6 AN ANALYSIS OF FACTORS AFFECTING THE TRANSLATION QUALITY OF SALE CONTRACTS AT GLOVIMEX COMPANY

MINISTRY OF FINANCE ACADEMY OF FINANCE -�⧫� - Student: Vũ Vân Trang Group: CQ55/51.05 GRADUATION THESIS TOPIC: “AN ANALYSIS OF FACTORS AFFECTING THE TRANSLATION QUALITY OF SALE CONTRACTS AT GLOVIMEX COMPANY” Major: English for Finance and Accounting Student code: 17522202010163 Supervisor: Bùi Thị Tuyết Mai (Ms.) Hanoi – 2021 MINISTRY OF FINANCE ACADEMY OF FINANCE -�⧫� - Student: Vũ Vân Trang Group: CQ55/51.05 GRADUATION THESIS TOPIC: “AN ANALYSIS OF FACTORS AFFECTING THE TRANSLATION QUALITY OF SALE CONTRACTS AT GLOVIMEX COMPANY” Major: English for Finance and Accounting Student code: 17522202010163 Supervisor: Bùi Thị Tuyết Mai (Ms.) Hanoi – 2021 Academy Of Finance Graduation Thesis DECLARATION Vu Van Trang, hereby declare that this thesis and the study presented in it are my own and have been generated by me as a result of my own original research Thesis: “An analysis of factors affecting translation quality of sale contracts at Glovimex company” Hanoi, May 24th 2021 Student Vũ Vân Trang Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis ABSTRACT This study researched the factors affecting translation quality of sale contracts at Glovimex company The paper aims at finding out drawbacks in contract translation activities, and more importantly, suggesting main methods to improve the efficiency of contract translation at the company In order to achieve these aims, the graduation paper surveys the current performance of contract translation activities in the company and point out whether it is effective or not From received results, the study argues the most practical implications to improve the efficiency of contracts translation at the company in the future years Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis ACKNOWLEDGMENTS I would like to express my deep gratitude to all those who have given me the possibility to complete this graduation thesis In preparing this graduation thesis, I have had generous help and advice from my teachers, my colleagues, my family and my friends I would like to express my great thanks to all of them First of all, I would like to express my deepest gratitude to my supervisor, M.A Bui Tuyet Mai, lecturer of Academy of Finance, for her guidance and instructions It is whole-heartedly appreciated that your great advice for my study proved monumental towards the success of this study Second, I wish to show my sincere thanks to all my teachers at Academy of Finance, who have provided me with worthy lessons throughout years of study Moreover, I am indebted to the staffs of Glovimex Company for their valuable supports during the internship I am extremely thankful and indebted to them for sharing expertise, and sincere and valuable guidance and encouragement extended to me Furthermore, I would like to send my loving thanks to my family whose great love and care in both spirit and health to encourage me to complete the thesis Last but not least, I also place on record, my sense of gratitude to one and all, who directly or indirectly, have lent their hand in this thesis Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis TABLE OF CONTENTS Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis INTRODUCTION RATIONALE OF THE STUDY Globalization and an increment within the number of worldwide exchange have driven to a considerable require of interpretation in assorted areas, counting mass communication, education, writing, tourism, religion, science and innovation, development, trade and business,… Different sorts of interpretation, of course, have their highlights Lawful document translation is often seen as the foremost troublesome one for a few reasons For the growing popularity of this sort of interpretation, a interpreter has got to bargain with legal document numerous times Amid the interpretation prepare, troubles present to a translator, avoiding him/her from performing his/her work well As a translation intern, it may be a must to discover the troubles confronting interpreters, analyze them and work out comprehensive arrangements In this manner, interpreters can total their work in the most compelling way AIM OF THE STUDY The paper aims at finding out drawbacks in contract translation activities, and more importantly, suggesting main methods to improve the efficiency of contract translation at the company METHODS OF THE STUDY For better performance of challenges facing legal contract translation activities at Glovimex company and some suggested solutions, several methods are used,including: i) Experiment: As required in the internship period, I have a chance to translate different types of legal documents I will analyze the difficulties presenting duringmy translating process and try to find ways to overcome them ii) Discussions: Further discussions with colleagues are needed Different translators may have their own difficulties when completing their job Therefore, discussions will allow looking into the issue more properly SCOPE OF THE STUDY Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis As specified in the title of the thesis, the thesis focuses on the legal translation activities in Glovimex company Because of the limited time and the author’s knowledge, this thesis was carried out based on some specific legal documents in the author’s internship period ORGANIZATION OF THE STUDY The content of the thesis consists of three chapters: Chapter 1: Literature review This chapter focuses on some basic information relating to translation and legal translation Chapter 2: Factors affecting contracts translation activities at Glovimex company.This chapter will give an overview of Glovimex company before finding the challenges facing translation activities and the reasons for these challenges Chapter 3: Recommendations: This chapter concentrates on producing somepractical solutions to the difficulties arising Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis CHAPTER 1: LITERATURE REVIEW 1.1 An over view of translation 1.1.1 The definition Translation, a phenomenon traditionally considered as an “art”, has existed in every corner of our life It has been approached from a scientific and technical point of view and considered as an indispensable part in the field of not only literature, culture and religion but also commercial advertisement, popular entertainment, public administration, immigration and education….especially in this current renovation economy Thus, definition has been defined variously They are defined under many different ways which were given by a lot of famous translators longtime ago as “Foster, Cartford, Reiss, Bell, Pinhhuck…and its definition is continuously discovered, definited in many new ways and began to appeared in books, dictionaries or websites There have been a great number of books and articles which have been written about this subject The following are some typical definitions which are basic theoretical background for my study: Cartford (1965:20) considers as follows :“Translation is the replacement of text material of this language (source language) with text material of another (target language)” Hartman and Stork (1971:1) believes that :“Translation is the replacement of a representation of a text in one language by a representation of an equivalent text in a second language” Advanced Oxford Dictionary ( page 1632) defines:“Translation is the process of changing something that is written or spoken into another language” According to wikipedia , translation is claimed: “Translation is the interpreting of the meaning of a text and the subsequent production of an equivalent text, likewise called a translation that communicates the same message in another language The text to be translated is called the source text, and the language that it is to be translated into is called the target language; the final product is sometimes called the target text.” Vũ Vân Trang - CQ55/51.05 Academy Of Finance Graduation Thesis It is clear that the above definitions given by different linguists from different contexts, share common features of emphasizing the importance of finding closest equivalence in meaning with similar characteristics to the original by the choice of appropriate target language’s lexical and grammatical structures Some sorts of transfer from one language to another also insist on the different methods of translation which will be taken into consideration in the next part Translation methods For learners of English, there are different approaches to translation with various methods For a number of definitions of translation given above, we can see that the understandings of translation varies from one to another The central problem of translating is whether to translate literally or freely It all depends on some factors such as the purpose of the translation, the nature of readership and the text types And basing on the degree of emphasis on the source language and target language, there are eight methods of translation: The first one is Word- for- word Translation This is the type of translation that English learners are likely to take up in the process of mastering their translation skills In word-for-word translation, the source language word order is preserved and the words are singly translated by their most common meanings, out of context Cultural words are literally translated The main use of this method is either to understand the mechanics of the source language or to construe a difficult text as pre-translation process The second one is Literal translation This is a broader form of translation, each source language word has a corresponding target language word, but their primary meaning may differ The SL grammatical forms are converted to their nearest target language equivalents However, the lexical words are again translated out of context Literal translation is considered the basic translation step, both in communication and semantic translation, in that translation starts from there As pre-translation process, it indicates problems to be solved Vũ Vân Trang - CQ55/51.05 10 Academy Of Finance Graduation Thesis CHAPTER 3: SOME SOLUTION TO IMPROVE TRANSLATION QUALITY OF SALE CONTRACTS AT GLOVIMEX COMPANY 3.1 Orientations and objectives for the future development at Glovimex company 3.1.1 Prediction of the publishing industry in 2021 The global handicrafts market reached a value of US$ 718 Billion in 2020 Looking forward, IMARC Group expects the market to exhibit strong growth during the next five years Handicrafts refer to products that are handmade using simple tools and represent the culture and traditions of a country or region Their production requires considerable hand-eye coordination and intense concentration Each handcrafted product is unique as each craftsperson applies their strength differently, owing to which every product has distinct qualities Handicrafts play a vital role in the economic development of a country as they are a prominent medium for foreign exchange revenue, require low capital investments and offer employment opportunities In addition, handicraft items are perceived as a symbol of status owing to their uniqueness, quality, usage of natural materials, and the essence of vibrant art and culture In recent years, with the emergence of online retail and the proliferation of various e-commerce channels, the accessibility to handicrafts has become more convenient for consumers This has provided a boost to the sales of handcrafted goods across the globe Another factor driving the market growth is the shift from ethnic to contemporary designs, coupled with the strong demand from offices, hospitals and hotels Apart from this, the growing travel and tourism industry has provided vast opportunities to local artisans and handicraft manufacturers to produce commoditized products and sell them to tourists who are willing to spend significantly on souvenirs and other craft items Moreover, handicrafts have lower energy requirements, unlike machine-made products which involve the utilization of electricity and various other fuels On account of the low capital investments, the industry is flourishing, particularly in the developing regions such as India, China, Vũ Vân Trang - CQ55/51.05 40 Academy Of Finance Graduation Thesis and Afghanistan Looking forward, IMARC Group expects the global handicrafts market to exhibit strong growth during the next five years Breakup by Product Type: Woodware Artmetal Ware Handprinted Textiles and Scarves Embroidered and Crocheted Goods Zari and Zari Goods Imitation Jewelry Sculptures Pottery and Glass wares Attars and Agarbattis Others On the basis of the product type, woodware currently represents the most popular type of handicraft products across the globe These woodwares are also used in the manufacturing of kitchenware, decorative materials, toys, etc Breakup by Distribution Channel: Mass Retailers Departmental Stores Independent Retailers Specialty Stores Online Stores Others The majority of the handicrafts are distributed through mass retailers, also known as discounters, who sell a wide variety of products at lower than conventional prices Breakup by End Use: Residential Commercial Vũ Vân Trang - CQ55/51.05 41 Academy Of Finance Graduation Thesis At present, the residential sector dominates the market and is further categorized into home accessories, furniture, jewelry, home textiles and others Regional Insights: Asia-Pacific North America Europe Middle East and Africa Latin America Region-wise, North America exhibits a clear dominance in the market as consumers in the region are willing to spend substantially on handicrafts, including handmade jewelry, apparel and handcrafted home accessories Competitive Landscape: The global handicrafts market is fragmented in nature with the presence of a large number of small and big manufacturers Some of the leading players operating in the market are: Asian Handicraft Fakih Group of Companies Shandong Laizhou Arts and Crafts Ten Thousand Villages Oriental Handicrafts Pte Ltd NGOC Dong Ha Nam Minhou Minxing Weaving Co Ltd Native Crafts and Arts Industries 3.1.2 Orientations for the future development at Glovimex company After more than years of operation and development, Glovimex has become one of the leading brands in the handicrafts industry and is loved by many customers With a young, dynamic, highly specialized and passionate team of employees, Glovimex is on its way to becoming one of the leading handicraft companies in Vietnam Based on the global market and the company's competence, Vũ Vân Trang - CQ55/51.05 42 Academy Of Finance Graduation Thesis Glovimex has given the business mission of the company: “To provide valuable knowledge for Vietnamese people, contributing to the advancement of the country The business mission of Glovimex is expressed through the slogan: “Customers is the first” The company also has a vision to become a leading hats brand in Vietnam Glovimex desires to bring more values to society and clients, accompanying the growing of Vietnamese intellectuals, businesses and clients Therefore, Glovimex has five core values: Pioneer – Innovation – Intelligence – Quality – Dedication Pioneer means always stays ahead of the market and creating trends, be not afraid to fail and encourages the spirit of daring to The second value is Innovation, which is making a difference and bringing advancement Intelligence is the third factor which brings the highest value in the products and services of the business Each individual is constantly learning and updating new knowledge and trends to develop themselves and bring knowledge to readers The value of Quality means satisfying the needs of customers and people involved in the product, system, or process The company must always assure quality in a comprehensive and continuous manner Finally, dedicating to customers and dedicated to work are the top philosophy of every Alphis They always listen to best understand the requirements and best meet the wishes of each customer 3.1.3 Objectives for the future development at Glovimex company For the future development, Glovimex has made commitments to achieve the main objectives as follow Firstly, Glovimex is aiming to create a lot of internal innovations The Glovimex brand will focus on business hats, beds, startup Within the next few years, this line of book will have a drastic transform into digital content Vietnamese businesses are in need of knowledge, not just from handicrafts Glovimex wants to expand the knowledge-providing formats of clients, such as providing templates of presentation, business plan, contracts or reports, etc The “Song” Company has a mission of supporting Vietnamese authors, bringing Vietnamese readers the knowledge of local people themselves Previously, the Vũ Vân Trang - CQ55/51.05 43 Academy Of Finance Graduation Thesis publishing industry imported knowledge from abroad, but it is a fact that Vietnamese readers also needed the knowledge written by the Vietnamese themselves ETS Data and Publishing Company is a newly established unit with the goal of developing the line of science, medicine, technology and education books Over the years, Vietnamese people have neglected health issues Medical books are a new and potential market in Vietnam that the company want to exploit This unit not only publishes printed books but also pays attention to digital data and content of medical From there, the company is heading to digital transformation and dissemination of health knowledge through many channels such as social networks In term digital content, the company will create various scientific clips to popularize knowledge easier and simpler There is a large gap in medical knowledge of Vietnamese which Glovimex is hoping to fill in by cooperating with other media companies Glovimex intends to work with National Geographic to create interesting scientific content for Vietnamese children The company wants to develop digital content for schools and households so that more and more scientific videos and clips will have a chance to reach children and audiences Secondly, the company wants to use digital content to provide students with open resources from prestigious universities in the world such as Harvard or MIT Prestigious universities around the world all have a huge and quality archive of their own Based on that fact, Alpha Books wants provide Vietnamese students the opportunity to access this highly valuable resources In many disciplines, Vietnamese university curriculum is quite outdated and still based on the exchange of materials between universities Once connected and partnered with prestigious universities around the world, students will have access to their up-to-date resources One of Glovimex’s most important goals is to increase revenue from ecommerce activities up to 20% compared to the total annual sales of Glovimex The company also want to increase the market share of Glovimex every year to 5% over the previous year Vũ Vân Trang - CQ55/51.05 44 Academy Of Finance Graduation Thesis Last but not least, the company wishes to create a firm position for the Glovimex brand in the minds of customers and put Glovimexamong the top leading company in Vietnam 3.2 Recommendations to improve translation quality at Glovimex company: The quality of translation is not only about the work being free of errors and thinking that the quality assurance system will take care of the proofreading and editing of the work before client submission There is stiff competition within the translation industry, and professional translation companies and translators use advanced technology and other industry innovations to ensure that they can provide their clients with high-quality work It is vital to start the quality assurance process at the start of the translation work to enhance translation quality It seems like there will be more work involved in the entire translation process, but doing so will definitely improve translation service and the quality of translation output Pre-planning and evaluation Having a more comprehensive system can help translators establish a functional and flexible template that they can adjust depending on the needs of a particular project Nevertheless, the model aims to have a guide to see to it that they can execute and deliver high-quality translation consistently If translators are working for a translation company, each project is typically assigned to a team, with a project manager, a translator, an editor and proofreader, and probably a desktop publisher Before they start work on the translation, the project manager should check the source material for any inconsistencies, errors, and typos With this step, their team can already identify parts of the source text that may need clarification from the client Vũ Vân Trang - CQ55/51.05 45 Academy Of Finance Graduation Thesis Resolving all the issues at this stage ensures that the translator will have a smoother pace while working on the project Planning for the translation quality When translators plan for quality, it means that they are organized and have a checklist that includes the needs of all the deliverables of a particular project This covers everything, such as the creation of file names, the format of the files, the client authorization process, and the directories of related deliverables and project expectations Having a team ensures that a responsible person handles every phase of the translation process This step means potentially minimize the occurrence of errors Reference materials and documentation See to it that translators get documentation and reference materials from the client from which the translator can refer to while working on the document Having the reference materials eliminates the guesswork Moreover, a style guide and a glossary will significantly improve the quality of the translation A glossary is valuable for materials where the words can have specific meanings that are relevant to the project It is helpful to assure accuracy and clarity of the translation if the client can also determine the terms, products, or brand names that should stay in the original language In terms of SEO, the glossary can be a source of relevant keywords that can help the translation, mainly if the translation will be available online On the other hand, having a style guide will help the translator to understand the requirements of grammar and punctuations, the tone of the material, and the other things that clients expect from the translation Vũ Vân Trang - CQ55/51.05 46 Academy Of Finance Graduation Thesis For different translations, such as translating materials with technical terms, a terminology list, and reference materials about the technical subject, can help improve the quality of the translation The translation company can assign a subject matter expert when the project is complex and highly technical Vũ Vân Trang - CQ55/51.05 47 Academy Of Finance Graduation Thesis 4.The translation process Once translators go through the pre-planning process, they are ready for the translation process They now have the right directions from the client, the glossary, and the reference materials that can help they create a high-quality translation It is normal to find some errors in the translation, as there could be differences between the source and the target languages There could be some incorrect word choices, mistakes in punctuation or spelling, and the use of nonstandard grammar These errors can be corrected by when the translator reviews and edits the work after finishing the translation Another team member makes the final edit before sending the material to the proofreader After the proofreading and revision, the project manager reviews the final work, checking it to see if everything fits the client’s requirements 5.Formatting Some complex translation projects require document formatting to ensure that the translated text fits the text boxes correctly When converting from one language to another, the length of the text varies They are languages where the text will become shorter, while some languages need more space to accommodate the text Since it is vital for most translations to be a mirror image of the original, the translation agency offers desktop publishing services, which may be included in the project cost or billed separately 6.Translation delivery Translators can improve the value of their translation and translation services by ensuring that they cater to the client’s preference Some projects require the Vũ Vân Trang - CQ55/51.05 48 Academy Of Finance Graduation Thesis translation to be a single document For more complex projects, company should ask the client how they want to receive the multiple files Improve translator’s translation skills Although it is vital to follow all the requirements of the client and the specific project, translators can increase the quality of the translation by improving your skills Instead of just translating the text from the source to the target language, it is better if they localize their translation Consider the preferences of the target audience and use the information to help they with their work Think of the cultural issues as well Vũ Vân Trang - CQ55/51.05 49 Academy Of Finance Graduation Thesis CONCLUSION It’s not denied that translation has become importance in the context that English has become the most commonly used language in the world In companies, especially foreign-invested companies, translation becomes an essential element, especially important documents such as sales contracts GLOVIMEX Company always understands this In recent years, the company has always paid great attention to the quality and effectiveness of the contracts Consequently, the company has also achieved some great achievements However, besides the achievements, the company's translation activities still have some limitations that need to be fixed From the knowledge that I learned in the university and the practical experiences at GLOVIMEX company, I have completed an analysis of the factors affecting the translation quality of sales contract here In this analysis, I have pointed out and analyzed a few factors that I think affect the quality and effectiveness of the translation of sales contract After that, I boldly gave some suggestions and recommendations that I think it can increase the efficiency and quality of translation at the company However, improvement of translation activities of GLOVIMEX company is a complex problem It needs to be carefully investigated and considered I also know that the amount of knowledge about translation and English that I have is not large, so that in the internship and this essay, it’s difficult to avoid mistakes These suggestions and recommendations are only personal and I really look forward to receive contributions and comments from the lecturers and others readers Finally, I would like to express my gratitude to my instructor, Ms Bui Thi Tuyet Mai, who enthusiastically helped me finish this thesis I also would like to thank the staffs of GLOVIMEX company for helping me in my internship Vũ Vân Trang - CQ55/51.05 50 Academy Of Finance Graduation Thesis REFERENCE A-Books The Advanced Oxford Dictionary ( page 1632) The Cambridge Dictionary Catford, J.C (1965) A linguistic theory of translation London: Oxford University Press Hartmann, R R K.; Stork, F C (1972) Dictionary of Language and Linguistics Newmark, P (1988a) A Textbook of Translation Hertfordshire: Prentice Larson, Mildred L.1984 Meaning Based Translation America: University Hall Press of America Essential Microeconomics by John G Riley (2012) B-Internet The translation process- PACTRANZ or Pacific International Translations (https://www.pactranz.com/) Legal match – Sale contract (https://www.legalmatch.com/ ) Upcounsel – Sale contract (https://www.upcounsel.com/ ) The Project Jurrisprudence (https://www.projectjurisprudence.com/2019/02/6-essential-characteristics-of-contract-ofsale.html ) (https://legal-translations.com.au/importance-legal-contract-translations/ ) Vũ Vân Trang - CQ55/51.05 51 CRITIC’S JUDGEMENT Critic: ……………………………………………………………………………………… Student: Vũ Vân Trang Group: 51.05 Intake: CQ 55 Topic: “An analysis of factors affecting the translation quality of sale contracts at GLOVIMEX company” Mark: • - In number: • - In word: Critic ...MINISTRY OF FINANCE ACADEMY OF FINANCE -�⧫� - Student: Vũ Vân Trang Group: CQ55/51.05 GRADUATION THESIS TOPIC: ? ?AN ANALYSIS OF FACTORS AFFECTING THE TRANSLATION QUALITY OF SALE CONTRACTS AT GLOVIMEX. .. the Glovimex brand in the minds of customers and put Glovimexamong the top leading company in Vietnam 3.2 Recommendations to improve translation quality at Glovimex company: The quality of translation. .. included in the project cost or billed separately 6. Translation delivery Translators can improve the value of their translation and translation services by ensuring that they cater to the client’s