About CompanyTencent Holdings Ltd, also known, Assignments of Humanities

Download About CompanyTencent Holdings Ltd, also known and more Assignments Humanities in PDF only on Docsity! About Company Tencent Holdings Ltd, also known as Tencent, is a Chinese multinational technology conglomerate holding company. Founded in 1998, its subsidiaries globally market various Internet-related services and products, including in entertainment, artificial intelligence, and other technology. Its twin-skyscraper headquarters, Tencent Seafront Towers (also known as Tencent Binhai Mansion) are based in the Nanshan District of Shenzhen. Tencent is the world's largest video game vendor, as well as one of the most financially valuable companies. It is among the largest social media, venture capital, and investment corporations. Its services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games. Offerings in China include the instant messengers Tencent QQ and WeChat, and one of the largest web portals, QQ.com. It also owns the majority of Global's music services (Tencent Music Entertainment), with more than 700 million active users and 120 million paying subscribers. 1 Mission & vision User value is our guiding principle, we strive to incorporate social responsibility into our products and services; Promote technology innovation and cultural vitality; help industries digitally upgrade; collaborate for the sustainable development of society. 2 Products and services 2.1 Social media 2.2 Entertainment 2.2.1 Video games 2.2.2 Television and cinema 2.2.3 Comics 2.2.4 Music 2.2.5 Video streaming 2.3 E-commerce 2.4 Utilities 2.5 Medical 2.6 Others Question 1 The 2016 report indicated that the actual dilemma of new media social responsibility was manifested in the proliferation of illegal and harmful information, information security and protection issues. The public education and supervision were weak. The reasons for this situation include: 1) lack of original information, 2) ineffective control of infringement, 3) single risk monitoring, 4) over-pursuit of entertainment, 5) cultural heritage, and 6) poor user experience. Private media companies sometimes let out users’ private information. For example, Baidu Cloud, a personal data storage center, automatically let out its users’ documents and photos for years (Chen & Sun, 2017). These shortcomings make media companies begin to reflect on considering how to improve social responsibility of new media, and it could be started considering the following four aspects: 1) clearing the information space, focusing on information quality; 2) providing environmental monitoring, setting up a supervision platform; 3) disseminating cultural values, improving cultural quality; and 4) building a harmonious ecology and promoting coordinating relations. For further study, these four aspects are important elements in evaluating Tencent. 1. Tencent’s CSR activities: *) Implementing CSR internally Tencent has been actively involved in public welfare undertakings, endeavoring to assume corporate social responsibility and promoting Internet use. In 2006, Tencent launched the first charitable foundation of China’s Internet charity, and founded the Tencent charity network – gongyi.qq.com. The goal of Tencent is ambitious. Tencent published its first CSR report in 2008 (Tencent.com, 2018). Tencent makes full use of its Internet advantage to help people in need, and has established a comprehensive Internet public welfare system so that people can donate money or goods through the Internet, and it also has a certain role in promoting the public welfare undertakings of other enterprises. - About employees and safety at work In 2017, Tencent granted 300 shares of Tencent stock to each employee as a special souvenir for its 18th anniversary. The total value of the awarded stock was 1.5 billion Provide stable and relieble Internet-based products and services. Create e scund eperating madel and generate investment returns for shareholders. Develop a comprehersive ‘employee benefits Respond promptly to users) * needs and continuously enhance service quality. Create new lifestyle possibilities for users with : Innovative products. Disclose financial and . operational information in a timely and accurate manne, in compliance with all relevant. + rules and regulstions. Communicate with investors + through a variety of channels, including fece-to-face meetings. Care for and nurture employees; provide them with training and career development opportunities. Foster a diverse corporate culture. Develop the Company's “Technology + Culture” strategy based on users’ needs, with the aim to enhance user ‘experience. Innovate new products, technology and architecture to provide secure and convenient services in support of users’ mobile lifestyles. Create a sound and well-established Board of Directors and produce financial reports on a quarterly basis. ‘Convene regular shareholder meetings and extraordinary general meetings. Set up a dedicated Investor Relations department to actively communicate with shareholders and investors. Set up a Human Resources Department to aversee employment policies and employee benefits. Form an Occupational Health and Safety (OHS) Committee to promote work safety and hygiene standards. Build and manage the Tencent Academy to provide ongoing training ‘opportunities for employees. - Another activities: TECHNOLOGY AS THE ASSISTANT IN IMPROVING PEOPLE’S LIVES + BECOMING THE DIGITAL ASSISTANT OF EVERY INDUSTRY The Company is consolidating its strengths in the Consumer Internet space and embracing opportunities in the Industrial Internet. Building on its core capabilities in cloud computing and supporting digital services, Tencent aims to help every industry become smarter. Tencent launched the Cloud Starter program in November 2018. In the next three years, Tencent will work with its partners to leverage five key catalysts: capital, resources, technology, capabilities and opportunities. It will build on its technological infrastructure – the cloud, AI and big data – to help Internet, finance, retail, education, healthcare, transportation and other enterprises in traditional sectors and public administration to upgrade. + IMPROVING PEOPLE’S DIGITAL LIVES Tencent shares its technological innovations with ecosystem partners to help address the pain points for traditional industries such as healthcare, education, retail, transportation and tourism. The Company leverages technologies including data analytics, cloud computing, artificial intelligence and mobile payments to develop products that address the most important challenges faced by traditional industries. + SMART HEALTHCARE BRINGS SECURE AND EFFICIENT MEDICAL SERVICES + PROVIDING RELIABLE AND TRUSTWORTHY MEDICAL INFORMATION To provide reliable and trustworthy online medical information, Tencent collaborated with highly-recognised healthcare organisations to launch the first Internet-based medical science information platform – Tencent Medipedia – providing a reliable channel of communication between patients, doctors and hospitals. In 2018, Tencent Medipedia invited leading medical science practitioners, well-known medical experts and industry associations to provide authoritative and in-depth content for the platform, extending its coverage from common diseases to critical and rare illnesses. Information is organised according to the consultation process to provide patients personalised suggestions based on their specific conditions. + SMART TRANSPORTATION TO ENSURE TRAVEL SAFETY To enhance driving safety, Tencent worked with an automotive partner to develop the All in Car cloud-based platform, which alerts drivers of mechanical malfunctions and reminds them to get regular check-ups to enhance travel safety. In addition, Tencent has developed smart applications to transform cars from a mere means of transport into an intelligent mobile space for users. These applications also provide a holistic solution spanning different segments of the automobile industry, such as design and for Good” is our fundamental and guiding principle as we continue to develop our products Increasing profits for business => Attracting investors Attracting more employees by promising working environment We have created an environment for our employees to participate meaningfully in the development of the Internet industry, build their careers and realise their dreams. We strive to instill in all employees a sense of belonging and ensure they feel gratified and empowered at work. To this end, we offer competitive remuneration and benefits, as well as a pleasant work environment for everyone to enjoy. At Tencent, we regard our employees as our primary asset. To safeguard their rights, we make sure to provide them a discrimination-free work environment, one where equality is valued. We have also put in place an incentive compensation scheme. Every employee at Tencent enjoys a competitive salary commensurate with their role CSR contributes to improve the nation image => Accessing to the international market Baidu, Tencent hay ByteDance (công ty mẹ Tik Tok) đã chi 115 triệu đô la Mỹ cứu chữa các bệnh nhân và phát triển vắc xin chống dịch nCoV. (Trước những nghĩa cử cao đẹp đó, giới làm truyền thông cho rằng những hoạt động từ thiện, CSR, quyên góp tiền cho công tác nghiên cứu, chữa bệnh cho bệnh nhân corona trong thời điểm này thì sẽ được quan tâm hơn những thời điểm bình thường do đại dịch corona đã nằm trong tâm thức (top of mind) của nhiều người và hiện những từ khóa liên quan đến virus corona đang dẫn đầu các kết quả tìm kiếm thông tin. Tùy vào quyết định của họ, có những doanh nghiệp sẽ im hơi lặng tiếng trong thời điểm này bởi họ cho rằng đây là thời điểm nhạy cảm và nếu đưa những thông tin không phù hợp sẽ tạo ra những ảnh hưởng trái chiều. Còn những doanh nghiệp chọn hướng lên tiếng sẽ tạo ra những tích cực trong mắt khách hàng của mình.) Promoting culture As our economy becomes increasingly globalised, people are longing for cultural enrichment, which is important for preserving the unique heritage and inheritance of a country. For Tencent, using technology to promote cultural expression is part of our commitment to “Tech for Good”. It is also a means of fulfilling China’s growing cultural aspirations. Capitalising on the Internet trend that advocates the application of the Internet and other information technology in conventional industries, Tencent is working hard to promote the richness of Chinese culture both domestically and internationally. 2 Disadvantage Reduce a company's freedom to maximize its profit. For example, a multinational company may move its manufacturing facility to a developing country to reduce costs. Practices acceptable in that country, such as child labor, poor health and safety, poverty-level wages and coerced employment, will not be tolerated by an ethical company. Improvements in working conditions, such as a living wage and minimum health and safety standards reduce the level of cost-savings that the company generates. However, it could be argued that the restrictions on company freedom benefit wider society. Conflicts with the Profit Motive Even for larger companies, the cost of CSR can be an obstacle. Some critics believe that corporate social responsibility can be an exercise in futility. A company's management has a fiduciary duty to its shareholders, and CSR directly opposes this, since the responsibility of executives to shareholders is to maximize profits. A manager who forsakes profits in favor of some benefits to society may expect to lose his job and be replaced by someone for whom profits are a priority. This view led Nobel-Prize winning economist Milton Friedman to write a classic article with the title: "The Social Responsibility Of Business Is to Increase Its Profits." Consumers are Wise to Greenwashing Greenwashing is a term used to describe corporate practices that appear to be environmentally responsible without actually representing a change in how a company conducts its business. Question 3 3. What are the implications for Vietnamese firms from the company?  Vietnamese firms need to become more deeply aware of the importance of implementing social responsibility:  The practice of social responsibility contributes to cost reduction and increased productivity.  Implementing social responsibility contributes to increased revenue.  Implementing social responsibility contributes to improving the company's brand value and reputation.  Performing social responsibility contributes to attracting a good workforce.  Vietnamese firms need to share their technological innovations with ecosystem partners to help address the pain points for traditional industries such as healthcare, education, retail, transportation and tourism.  Vietnamese firms need to consider their employees as their main assets. In order to protect their interests, businesses must ensure that they provide them with a non- discriminatory work environment, one in which equality is valued.  Vietnamese firms must commit to providing employees with training opportunities to help them improve their ability to think critically and support their development.  Vietnamese firms must ensure employees enjoy the benefits of work-life balance by striving to provide a comfortable work environment.