---- Michael Yu Minhong, Gründer und CEO von New Oriental Bildung & Technology Group Inc., spricht in einem Interview in Chengdu City, im Südwesten von China
--FILE--Michael Yu Minhong, founder and CEO of New Oriental Education & Technology Group Inc., speaks at an interview in Chengdu city, southwest China's Sichuan province, 27 June 2015. The education space in China is quickly evolving. New Oriental Education was founded by Micheal Yu as an organization that could provide English-language test prep for students who were looking to go to college abroad. But he quickly discovered that the business didn't offer much of a moat: Given the one-off nature of such classes and increased competition, the company couldn't continue to thrive the way he wanted. So he decided to pivot. While not dumping the English classes, Yu chose to focus instead on after-school tutoring for K-12 students. While competition could still encroach, the very nature of the business -- with students potentially attending for 14 consecutive years and forming mental and emotional bonds with their learning centers -- provides a much stronger business model.
