本文首先对价值链进行分析，价值链是指组织内外部间创造一系列价值活动的集合，价值链的形成有助于帮助企业清晰地认识到企业生产、运输、销售各个环节之间有形价值和无形价值之间的转化，因此分析价值链在企业的收益、分工和经营策略上具有重要意义。但伴随商业社会发展，价值交换不仅存在于企业内部之间，外部企业之间也在发生有形价值和无形价值的交换，企业不再是单一企业之间的竞争，更多是各企业集群商业生态系统之间的较量，此时价值链已无法满足目前商业社会的需要，而价值网络则能将更多参与者间的价值转换进行更清晰的展现，本文通过价值网络对商业生态系统内在逻辑进行剖析。运用价值网络E3-Value工具，将其商业系统各参与者之间的价值转换通过可视化的方式进行展现，并代入参数进行计算，最后对比分析得出结论。

万达体育早期持续对世界体育产业资源并购，但在运营过程中持续亏损，上市不到两年就退市，因此通过价值网络分析万达体育商业生态系统是本文探讨的核心。本文对万达体育发展历程以及财务状况进行梳理，其次分析万达体育的价值主张，构建万达体育的价值网络，再通过E3-Value工具对万达体育价值网络进行可视化分析，并将万达体育所发布的年报数据代入运算，对比分析出万达体育价值网络各环节参与者之间所出现的问题。

通过判断万达体育是否对版权进行长线运营、是否配合周期性赛事进行运营，在多种场景下进行分析，最终通过对比分析提出以下建议:（1）避免盲目并购，版权长线运营（2）孵化中国特色IP， 打开中国市场（3）迎合体育赛事周期性机遇，规避周期性风险。

This article first analyzes the value chain. The value chain refers to the collection of a series of value-creating activities between the internal and external organizations. The formation of the value chain helps companies to clearly recognize the tangible value and relationship between production, transportation, and sales. The transformation between intangible values, so the analysis of the value chain is of great significance in the enterprise's income, division of labor and business strategy. However, with the development of business society, Value exchange not only exists between enterprises, but also exchanges of tangible Value and intangible Value between external enterprises. Enterprises are no longer a competition between single enterprises, but more of the business ecology of various enterprise clusters. The competition between systems. At this time, the value chain can no longer meet the needs of the current business society, and the value network can more clearly show the value conversion between more participants. This article uses the value network to carry out the internal logic of the business ecosystem. Profiling. Use the value network E3-Value tool to visualize the value conversion between the participants in its business system, and substitute the parameters for calculation, and finally compare and analyze the results.

Wanda Sports continued to acquire resources in the world sports industry in the early stage, but it continued to lose money during its operation and was delisted within two years of listing. Therefore, analyzing the business ecosystem of Wanda Sports through the value network is the core of this article. This article sorts out the development history and financial status of Wanda Sports, analyzes Wanda Sports’value propositions, builds Wanda Sports value network, and visually analyzes Wanda Sports’Value network through the E3-Value tool, and uses the annual report data released by Wanda Sports. Substituting calculations to compare and analyze the problems that occur between participants in each link of the Wanda Sports value Network.

By judging whether Wanda Sports conducts long-term copyright operations and whether it cooperates with periodic events to operate, analyzes in various scenarios, and through comparative analysis, the following suggestions are made: (1) Avoid blind mergers and acquisitions, and copyright long-term operations (2) Incubate Chinese characteristics IP, open the Chinese market (3) Cater to the cyclical opportunities of sports events and avoid cyclical risks.