Vtech 2002 Annual Report Download - page 22

VTech Holdings Ltd20
Corporate Affairs
Other Businesses
VTech has in recent years made a small number of
investments in businesses outside its three core business
areas. These include e-learning and e-business related
services. During the course of the restructuring, VTech exited
or severely reduced its involvement in these investments,
which today account for a negligible proportion of both costs
and sales. VTech will continue to focus on its core businesses
and we do not expect new investment in non-core
businesses in the near future.
Investor Relations
VTech has put increasing efforts over the years to building
relationships with its investors in the United States, Europe
and Asia. The Group is committed to continuously improving
its standard of corporate governance and ensuring full, timely
and equitable disclosure of relevant information.
Investor Briefings
During the 2002 financial year, VTech held over 50 one-on-
one meetings with investors to keep them abreast of the
latest company developments. In addition, we organized site
visits to our advanced manufacturing facilities in mainland
China. Senior management also participated in various
investor conferences and roadshows in Singapore, Edinburgh,
London and Hong Kong. As with VTech’s usual practice, the
annual and interim results presentations in Hong Kong were
supplemented for investors outside the Hong Kong SAR by
international teleconference calls at which investors were
invited to discuss results performance with senior
management.
Investor Relations Website
For all investors, the corporate website www.vtech.com
provides up-to-date investor information, including press
releases, stock exchange announcements and “pdf” versions
of the annual and interim reports.
Quarterly Newsletter
In July 2002, the Group will begin to issue a quarterly
newsletter to investors in order to keep them informed of
VTech’s latest developments.
Employee Relations
The people who work at VTech have consistently
demonstrated a tremendous commitment and enthusiasm to
make the Group and its products better – during both
periods of growth as well as challenging transitional years.
We take great care to ensure this positive attitude is
encouraged at every level, from our factory floor through
senior management.
Keeping Everyone in Touch
Open communications are critical to sound employee
relations. The Group works diligently to provide channels for
information and ideas to flow among colleagues, between
management and employees. VTech’s Intranet is a powerful
tool that enhances efficient communications. A global on-line
quarterly newsletter was launched in Spring 2001 to keep our
staff informed of key developments within the Group.
In June 2001, the Group began to issue a monthly “Chairman’s
Letter” to further open lines of communication directly
between all staff around the world and the Chairman. To assist
management further in understanding employee attitudes
and to provide a structured way of benchmarking
perceptions, we developed a Staff Attitude Survey and
launched in June 2002. It will help the Group gather opinions
from VTech employees globally.
Managing Continuous Change
VTech operates in an environment that requires
responsiveness and change. To help employees address this
challenge successfully, in July 2001, we initiated a culture
building program on change management in Hong Kong and
China.
Developing People Through In-house Training
and Education Subsidies
People working at VTech receive a wide variety of practical
job-related training that has been designed specifically to
enhance their on-the-job performance. Outside the company,
each year VTech offers training subsidies to employees
choosing to follow courses of study that will broaden their
skills. During the financial year 2002, our people have taken
up subsidies for courses ranging from various seminars to
MBA/MSc programs.
VTech and the Community
VTech products and technology improve people’s lives by
making them more enjoyable, fulfilling, as well as convenient
and enlightening.
The Group creates prosperity through the employment it
provides to a wide variety of people in the United States,
Europe and Asia. VTech also seeks cost-effective ways of
supporting initiatives in local communities in the markets
where it operates that help further ideals such as education
and support individuals in need.