Tencent (00700)An online internal staff meeting was held a few days ago. Chinese media interface news reported that Chairman Ma Huateng said at the meeting that the most eye-catching business of the WeChat business group is the video account, which is basically the hope of the whole company, hoping to be closer to the transaction and do a good job. Closed-loop e-commerce. He also directly pointed out that Tencent’s internal corruption problem is shocking. Many businesses cannot be done because the corruption loopholes are too large and the business has been gutted. Going forward, we will continue to build digital capabilities for investigations and anti-fraud.
Cut out the non-boutique products and do a good job in the e-commerce closed loop
The report noted that the overall tone of Ma Huateng’s speech was much sharper than in the past. Regarding the video account business, he pointed out that in the past three years, short videos have had a considerable impact on the entire Internet, and all platforms and companies need to pay attention to them, thus eroding the time of many long videos and games and other products, forcing the company to adjust other activities, such as changing the strategy of long videos and cutting down on non-quality content.
Tencent has also made many attempts to combine short videos with e-commerce and hopes that the video account will be closer to transactions in the future and close the e-commerce loop.
As for the game business, Ma Huateng believes that in the long term, the number of licenses in the mainland game market will certainly be limited, and obtaining licenses will not be as easy as in the past, so Tencent Games must focus on high-quality products and don’t waste any licensing chances.
As for the reform of part of the platform business and content business group, Ma Huateng said that he told the team that if they can’t be responsible for their own profit and loss, if they are still sinking and there are also many problems , then there is not much time for Tencent News “It’s okay to cut the whole (business)”, and it turned into a profit in October.
He frankly said that it is necessary to really put pressure on the team and let the team think and act from the entrepreneurs point of view. He said bluntly: “You can’t survive, you have to rely on others to continue your life, and you can play quietly on the weekends.” This is unacceptable. “If the team doesn’t even have the pressure to start a business, then the pressure will come from the top.” While there may not be a need to cut staff next year, the remaining team will need to do more meaningful things. Otherwise , wasting such people ‘s time is also a kind of irresponsibility .
Use Big Data to analyze vulnerabilities
As for Tencent’s internal corruption, he bluntly said that the internal corruption problem is “really shocking”, and also involves some mid-level officials. Many businesses cannot be done, not because of problems with executives or corporate management, but because of too many loopholes in corruption. Big business has been hollowed out. He said many problems existed before, but have not been investigated as rigorously.
But Huateng said that this year Tencent will introduce digital features in anti-fraud, all refund and external supplier data will be collected, internal audit and internal control will conduct big data analysis, and most problems can be found low level. will continue to build this capacity.
This year, Tencent has been emphasizing cost reduction and efficiency increase. But Huateng stressed that many businesses should be stopped as soon as they should be cut. And insist on cost reduction and efficiency increase, forming a habit.
