财务视角下腾讯轻资产运营模式研究

发布时间：2018-03-22 14:35

本文选题：腾讯公司　切入点：财务视角　出处：《石河子大学》2017年硕士论文　论文类型：学位论文

【摘要】：我们所说的轻资产运营模式,其实就是“资产投入较少、生产规模缩小、资产形态减轻、着重运用知识、使得投资效益明显提高”的一种新型的运营模式。麦肯锡公司提出了这种运营模式后赢到了世界各国各大企业的高度关注。而美国的耐克公司为了最大程度的获得很高的投资回报率,就将主要的精力都集中的放在了公司产品的研制和产品的销售业务上,这应当就是在企业的生产运营中轻资产的首次使用,时间发生在20世纪的70年代。轻资产的运营模式通过内外部资源的有效结合,不仅仅能有效地加强该企业的核心竞争能力,而且不用投入太多的资金就能很好的使企业高速的发展起来。经过很多年的发展,互联网行业已经成长为中国的标杆性支柱产业,如今,中国的经济高速的发展,而互联网产业无疑是一个重中之重的行业,近一段时期,互联网行业在中国也空前壮观地发展起来。但是,与发达国家的互联网行业相比,可想而知,这中间的差距还是非常大的,比如说,在互联网中的操作技能、资金投入、相关的管理经验以及产品的经营等方面。而在中国的互联网行业中,腾讯公司凭借其特殊的轻资产运营模式,理所当然的已经成为了中国互联网行业中的佼佼者。当前,在我国规模最大的提供互联网服务的企业就是腾讯公司,该公司依靠日积月累总结下来的供应链流程、独特的战略品牌、高超的技术水平和科研水平、稳定的用户资源、以及独特的运作平台等“轻资产”,整合了企业内外部的所有优秀的资源。腾讯公司通过整合企业资源、创新组织架构以及企业文化的管理运用,不断提升自身的市场竞争力。本文从财务视角出发,对腾讯公司进行深入地研究和分析,目标在于能够对其新的企业运营模式和财务理论进行有针对性地分析和丰富。通过阐述国内互联网行业的领先者——腾讯公司运用轻资产运营模式取得了成功的案例,进而以财务的视角论证轻资产运营模式对该企业的价值所做出的贡献。所以,对腾讯公司轻资产运营模式的深入研究具有十分现实的参考价值,不但可以对其日后的发展提供很好的建议,也可为其他类似公司发展和运用轻资产运营模式提供参考。本文在对相关文献进行整理收集的基础之上,概述了轻资产的概念、轻资产运营模式的概念、动因、财务特征及与企业价值相关的理论。在相关理论的基础上,对腾讯公司的概况、收入及构成情况,腾讯公司轻资产运营模式的可行性以及腾讯公司轻资产运营模式的实施策略进行了相关分析。同时,基于财务视角下,以腾讯公司06年——15年近十年的重要业务数据和财务指标为主,重点分析了腾讯公司的轻资产运营模式下的财务对企业价值的贡献以及轻资产运营效果。最后,总结了一下本文的内容,分析了一下本文研究的局限性,并且指出了本论文的不足之处。
[Abstract]:What we call the operation model of light assets is, in fact, "the investment of assets is relatively small, the scale of production is reduced, the form of assets is reduced, and the emphasis is on the use of knowledge." A new business model that significantly improves investment returns. McKinsey has proposed a model that has won the attention of companies around the world. And Nike in the United States is trying to get the most out of it. A high rate of return on investment, The main focus is on the development of the company's products and the sales of the products. This should be the first use of light assets in the production and operation of an enterprise. The operation mode of light assets, through the effective combination of internal and external resources, can not only effectively strengthen the core competitiveness of the enterprise. And without putting in too much money, enterprises can develop at a high speed. After many years of development, the Internet industry has grown into a benchmark pillar industry in China. Today, China's economy is developing at a high speed. The Internet industry is undoubtedly a top priority. In recent years, the Internet industry has also developed in an unprecedented and spectacular way in China. However, compared with the Internet industry in developed countries, one can imagine that, The gap is still very large, for example, in terms of operational skills, capital investment, related management experience and product management in the Internet. And in China's Internet industry, Tencent, with its special light assets operation model, has naturally become a leader in China's Internet industry. At present, Tencent is the largest provider of Internet services in China. The company relies on the cumulative sum up of the supply chain process, unique strategic brand, superb technology and scientific research level, stable user resources, As well as the unique operating platform and other "light assets", integrated all the excellent resources inside and outside the enterprise. Tencent company through the integration of enterprise resources, innovative organizational structure and corporate culture management, From the financial angle of view, this paper makes a deep research and analysis on Tencent. The goal is to be able to analyze and enrich its new business model and financial theory in a targeted way. Then the contribution of light assets operation model to the value of the enterprise is demonstrated from the perspective of finance. Therefore, the in-depth study of Tencent light assets operation mode has very practical reference value. It can not only provide good suggestions for its future development, but also provide reference for other similar companies to develop and use light assets operation mode. This paper summarizes the concept of light assets on the basis of the collection of relevant documents. The concept, motivation, financial characteristics and theories related to enterprise value of light assets operation model. On the basis of relevant theories, the paper gives an overview of Tencent, its income and its composition. The feasibility of Tencent light assets operation model and the implementation strategy of Tencent light assets operation model are analyzed. At the same time, based on the financial perspective, Based on the important business data and financial indicators of Tencent Company from 2006 to 15 years and nearly ten years, the paper analyzes the contribution of finance to enterprise value and the operation effect of light assets in the light assets operation mode of Tencent Company. This paper summarizes the content of this paper, analyzes the limitations of this study, and points out the shortcomings of this paper.
【学位授予单位】：石河子大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F49

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