“Once the money is in your pocket, it’s hard to get it out again.” Lu Feng joked, looking at him. “If I miss this historic opportunity, I’m afraid I could kneel at the entrance of Schroder’s headquarters and still not get this money back.”
“I am very supportive of Mr. Lu and have high hopes for Jiafeng’s future development,” John stated.
The meal was rather unpleasant. John kept saying he supported Lu Feng while insisting on his own profit-sharing plan. Around 9 p.m., the dinner party ended, and Lu Feng returned to his room, unable to sleep. He got out of bed and called Su Yourong's room.
"Who is it?" Su Yourong asked lazily.
"It's me. Tomorrow is the day the profit-sharing plan will be announced. Who do you support?" Lu Feng asked.
On the other end of the phone, Su Yourong sighed and said, "You said you would give me a sum of money, so of course I support you. If this money is distributed, Jiafeng will be gone next year, leaving only an empty shell. This is in the interests of the Schroder Group, not in my interests."
"Okay! Thank you!" Lu Feng said and hung up the phone immediately.
The next morning, Yang Fuqun and his group, who were originally scheduled to attend the meeting, were informed that today's board meeting was limited to board members only and would no longer include senior executives of the group. This was because it was considered that having so many senior executives gathered here would have a negative impact on the group's operations, and everyone was asked to return to their posts as soon as possible.
A chorus of curses erupted, with many questioning whether Lu Feng had prevented them from participating. The former leader of the company had now become an enemy in the eyes of these people.
At 10:30 a.m., Lu Feng and his group entered the conference room. Today, there was a long conference table with nameplates on it and tea in front of each person, which looked quite formal.
"Hurry up and sit down." Lu Feng greeted the others in a very relaxed manner, saying, "There are far fewer people today, so there's no need to be so formal."
Everyone sat down chatting and laughing. John saw Lu Feng and Su Yourong exchange a few words, both of them smiling. He already understood that he wouldn't be making any significant contributions to the board of directors this year.
"Today, since there's no host, I'll be the host. We'll mainly discuss two topics: first, the budgets for each department next year; and second, the issue of bonuses. Let's start with next year's budget. Last year's budget reached its peak, and we can't support expenditures like that."
Lu Feng addressed the crowd, saying, "Fortunately, all of this money has been converted into patents and talent reserves. Some money should be spent where necessary, otherwise we would be letting down the investors who have placed their trust in us. In our development, we have also encountered many problems. The international community is constantly changing, and our overseas markets have suffered a major blow."
"Kevin, the head of overseas markets, couldn't come because he was busy with work. However, the budget for overseas markets will be reduced. The international community is not very friendly to us right now. The marketing department has been doing a good job in recent years, and the brand has been very well consolidated. It is already a brand recognized by the people in many provinces."
"Advertising, marketing, and channel maintenance all need to be strengthened on the existing basis. Therefore, I think the marketing department's budget should be increased by 20%. The most expensive part is the R&D company. We can't do what we did last year with 1.5 billion US dollars."
"We will consolidate our existing foundation. This year's plan is to defend our position. The company has already reached a certain scale. We will steadily launch good products according to plan. We need to grasp the market rhythm in terms of product upgrades. Therefore, I propose a budget of 500 million US dollars for the R&D company this year."
"Aside from necessary expenses, the internal improvements to the corporate headquarters building, the investment in the new factory area, and the interest payments on maturing debts, the biggest expense next year should be the mobile phone business. This will be the heart of the group's business, especially with the launch of the new brand. We cannot cut corners on marketing and advertising, so I propose a separate budget of 200 million RMB for the mobile phone business."
"Everyone has a folder in front of them containing the detailed budget and performance requirements for each department next year. If you have any questions, anything you don't understand, or any objections, please feel free to ask."
Everyone opened the folders in front of them, which contained detailed lists of the performance of each department, subsidiary company, and branch company this year, as well as the situation for next year, the budget, the goals to be achieved, and how much money to earn for headquarters.
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