The Birth of Shanghai's First Conglomerate

Someone once said...

Jianghu is not about fighting and killing, but about human relationships.

Such a statement would be perfectly appropriate in a monopolistic industry or a system.

However, if placed in a market-driven private enterprise, the end result would only be a rotten and incompetent workforce.

Everyone is focused on cultivating personal relationships and making pleasing superiors their primary job.

Who will be held accountable for the outcome?

Who will guarantee the welfare and benefits for those more than one million grassroots employees?

Tengying Group has launched a vigorous self-revolution.

In the past, the decision would have been made from the top down according to the power structure.

In other words, higher-level leaders can directly decide whether or not lower-level managers stay or leave.

The current structure is completely reversed.

For example, in a Boiling Sheep restaurant, the power to select the store manager will no longer be concentrated in the regional manager, but in the store's front-line employees.

You can only become a store manager if most of the frontline employees believe you are capable of it.

Other traditional chain enterprises under the Tencent Group will also undergo rectification.

Power should be returned to the grassroots employees through self-revolution.

Completely decentralize power and strip senior executives of the authority to appoint and dismiss personnel.

Only then will they truly consider how to serve the grassroots employees well, and learn how to be a truly qualified grassroots leader.

Any reform is bound to trigger some backlash.

The reason is simple: it has touched upon the core interests of these people.

Just imagine what it's like when you no longer have the power to promote people, and you're even subject to constant supervision from those entry-level employees.

They are the ones who decide whether you are qualified and whether you can stay in this position.

Who would need to give him gifts, and who would deliberately try to please him?

How can he, as a superior, comfortably enjoy the respect and deference others show him?

If he sits in the office for even a little while, he'll probably be asked to come and do some dirty or tiring work.

Such reforms are definitely the last thing the existing management team wants to see.

Unfortunately, everyone underestimated Chen Pingsheng's determination to delegate power and return it to grassroots employees.

When people band together to boycott, his approach is not to negotiate at all.

Instead, they were dismissed outright.

Deer Antler Coffee, Boiling Sheep, Bobo Milk Tea, as well as Snack Run and Tenghui Department Store, are found in most cities across China.

Because most of the veteran executives were involved in this optimization campaign.

The market also experienced unprecedented turmoil.

Former senior executive of Bobo Milk Tea in Shacheng, which has seven or eight districts.

Yuhua is under his wife's care, Wangcheng is his younger brother, Kaifu is his brother's wife, and Xingsha is his wife's younger brother.

He arranged for his entire family to be regional managers in Shacheng.

These people believed that there was strength in numbers, and they refused to believe that the boss could simply close all the stores in the city to fire him.

A perfectly good listed company has somehow degenerated into a family-run business.

The city manager had a series of relatives working in management positions, and these relatives in turn appointed other relatives as store managers.

To say that chaos is rampant is an understatement.

The vice president-level official responsible for promoting him was fired.

Not even an explanation is needed.

If the gift isn't delivered properly, everyone will notice the problem.

The drawbacks of concentrating power in the hands of senior executives are self-evident.

Chu Qiuyan, the person in charge of Bobo Milk Tea, is still too young.

They are simply not capable of handling complex personnel management independently.

In the fiercely competitive milk tea market this year, Bobo Milk Tea suffered repeated defeats.

They were even driven to desperation by the newly emerging milk tea brands.

If this doesn't change, all the tens of thousands of employees at Bobo Milk Tea will have to find new jobs.

Chen Pingsheng certainly wouldn't close all the stores in Shacheng, but those stores that led the trouble and even incited the grassroots employees to coerce him into backing down.

All stores closed within a single day.

Since he has already undertaken this task, he will not back down, and he will only persist in pushing forward no matter how great the difficulties.

Such a large-scale executive optimization campaign must have involved more than just one executive from Shacheng leading the protest.

In major cities, stores and even large numbers of store managers have emerged to lead the protests.

A series of personnel reforms have caused turmoil throughout the stock market.

Countless people even posted online questioning whether the group was abandoning its veteran employees after achieving great success.

These people even organized management personnel they knew or were related to to stand in front of the store, hold banners, and film protest videos.

Suddenly, the entire internet, including the stock market, wanted to ask the same question.

What's wrong with Tengying Group?
Why are stores closing down one after another?

Meanwhile, negative trending topics about Tencent's affiliated companies continue to emerge online.

The first thing to emerge was that Tencent Group was experiencing an unprecedented upheaval.

Why do many companies lay off their frontline employees first when they are struggling financially?

That's because if their benefits are cut or their salaries are reduced, they have no choice but to accept it due to the pressure of making a living.

As long as I don't starve to death, that's fine.

Even if they fire lower-level employees, they won't cause much of a stir.

Cutting the senior management team is different. These people are a group with some savings and know how to drag you down with them at the lowest cost.

No company dares to cut its senior management team unless absolutely necessary.

Not to mention cutting off a large number of people like this now.

The backlash caused by these people uniting together would give even someone as strong as Chen Pingsheng a major headache.

Needless to say, the stock prices fell across the board; that was a foregone conclusion.

The key issue is that a large number of stores have simply closed down.

It's not that he wants to shut down, but those people will incite the employees to stand with them and protest.

Even if he, as the big boss, has the best ideas, he can't explain them to each and every employee.

The entire Tengying Group originally started in traditional industries and is deeply rooted in those industries.

Nowadays, due to a sweeping personnel reform, the personnel department is in a state of chaos every day.

No matter how much trouble others cause or how much they close the store.

He will only steadily advance the process of optimizing senior management.

Even after being optimized, they still dare to cause trouble.

Then let's get Uncle Hat to arrest them; the lower-level employees are also threatening to resign because they've been misled.

Approved instantly.

He's unaware of his own stupidity and certainly won't explain it.

As for the stock market crash caused by the large number of store closures.

The short videos are full of people cursing the company for being cold-blooded and heartless, and some are even bringing their wives and children to say that the company is not giving them a way to survive.

Chen Pingsheng didn't bother to explain.

He still remembers this person. He was only a few years ago when things were going well. After he was promoted, his employees stopped giving him gifts and stopped bringing him anything to visit him during holidays.

They have absolutely no chance of being promoted.

Even at work, they have nothing to do every day, and they just go to so-called educational criticism meetings whenever they have nothing to do.

The target of criticism is definitely the employee.

As for himself, he always emphasized how things were in the past and that everyone should learn from him.

They would even hang banners after each meeting to deeply study the spirit of his speeches.

If such a person isn't fired, all the excellent employees under him will be filled with despair.

No matter what others say, he won't even give a single response.

No enterprise reform can be completed without pain; a short period of pain is worse than a long period of pain.

Another week has passed in the blink of an eye.

Professor Chen has not been seen at the University of Finance and Economics since.

Lin Qiunan, however, still followed the news about Tencent Film Group online every day.

Unfortunately, it no longer has influence in traditional industries.

The group is a leading conglomerate in China, with businesses spanning entertainment, investment, short videos, catering, department stores, and new energy technology.

Such a large conglomerate.

Few people could have imagined that we would see such a massive wave of founder departures, executive layoffs, and large-scale optimization of veteran employees.

It turns out it all started with these college girls in a concubine selection group.

When Lin Qiunan first heard about this concubine selection group, she felt that Tengying Group had already embarked on the path of corruption and decadence.

It is no longer like when it was first established or even when it was a startup, with a do-or-die spirit, gathering all its strength and becoming unstoppable.

Unstoppable.

Now that it has firmly established itself as one of the leading private enterprises in China, it is also inevitably making some fatal mistakes.

These mistakes may not have many consequences in the short term, but if they accumulate, they will definitely turn into a fatal crisis one day.

Fortunately, his boss, the true founder of the company, has been able to maintain his original aspirations as always.

Use great courage to cut yourself twice.

It is clear that the big boss of Tengying Group has already begun a comprehensive cleanup of the corrupt values ​​that have grown within the senior management team.

Perhaps after this rectification, Tencent Film Group will either rise from the ashes and be reborn.

Otherwise, they will simply become just another ordinary person.

It's really not easy to maintain such a large conglomerate.

Even the slightest disturbance can generate a lot of gossip among the public.

Not to mention such a comprehensive optimization campaign.

Her only question was that this optimization campaign by Tencent Group seemed to target only the senior management team who worked in offices.

It is not targeted at frontline employees.

There have been no reports from the outside world of salary cuts or layoffs of lower-level employees.

It's worth noting that Tencent Group has always been known for its high welfare and high income.

Once an intern is hired by Tencent Film Group, the company will provide her with a graduation bonus of 50,000 yuan.

This money won't be included in their later salaries; the group is telling them it's 50,000 yuan.

After graduating from university and entering society, no matter how difficult things get, you should never ask your parents for money again.

In addition, a very comfortable small apartment will be prepared.

Let them stay for free for six months.

To successfully navigate the social adjustment period after graduating from university.

It was precisely because of these numerous intern benefits that the Tencent Film Selection Concubine Group incident occurred.

That's why countless college girls knowingly do the wrong thing.

All of this has clearly been thoroughly tainted by the personal desires of some executives.

Only today, under the fury of the big boss, has an epic-level executive optimization campaign been launched in the workplace.

This action directly or indirectly affects customers, employees, and shareholders.

They are all at least over ten million.

It's because when people go out, they encounter Tencent-affiliated companies everywhere.

Even scrolling through short videos on your phone is like this.

Outsiders have no idea how much influence the Tencent Film Group has on their lives.

Such a large-scale enterprise could have thrived if not for Chen Pingsheng's consistent low-key approach to life and pragmatic work.

The group also invests the vast majority of its profits in the field of new energy technology and the real estate economy of its Shanghai headquarters.

It's likely that countless people have already set their sights on this huge piece of the pie.

Wasn't that the case with Xu Pipi and Young Master Yan before?

It can only be said that they have absolutely no reason to be proud.

Meanwhile, those high-ranking executives were already enjoying life with their legs crossed.

This is a great irony, and it's also dragging Tencent Group backward.

The only option he could make was to optimize and eliminate these older employees who had worked alongside him throughout the company's struggles.

There is no other way.

(End of this chapter)