Business and Business Evironment BUSINESS AND BUSINESS EVIRONMENT Assignment 1 NAME NGUYEN THI QUYNH LIEN ID GBD210246 WORD COUNT WORDS 1 ASSIGNMENT 1 FRONT SHEET Qualification BTEC Level 4 HND Diplom.
BUSINESS AND BUSINESS EVIRONMENT Assignment NAME: NGUYEN THI QUYNH LIEN ID: GBD210246 WORD COUNT: WORDS ASSIGNMENT FRONT SHEET Qualification BTEC Level HND Diploma in Business Unit number and title Unit 1: Business and Business Environment Submission date 19/01/2021 Date Received 1st submission Re-submission Date 19/10/2021 Date Received 2nd submission Student Name Nguyen Thi Quynh Lien Student ID GBD210246 Class GBD1001 Assessor name Vo Thi Thao Ngoc Student declaration I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism I understand that making a false declaration is a form of malpractice Student’s signature Nguyen Thi Quynh Lien Grading grid P1 P2 P3 M1 M2 D1 Summative Feedback: Grade: Resubmission Feedback: Assessor Signature: Date: Internal Verifier’s Comments: Signature & Date: Table of Contents I Introduction II Diffrent types and purposes of organizations Types and Purpose of various sectors 1.1 Public sector 1.2 Voluntary sector 1.3 Private sector III Size and scope of a company 1.1 Introduction of Vingroup 1.2 Size and scope a Size b Scope 1.3 Size and scope of Vingroup helps it to achieve company’s objectives 12 IV Diffrent organizational Function 12 1.1 Organizational Chart 12 1.2 Main function of key departments and how they link to the objective of Vingroup 13 V Interrelationship between organizational functions 15 1.1 Evidence showing that key departments link together and support each other to obtain company’s goals 15 1.2 If there is one department change, will it affect organizational structure and objective 16 VI Complexities of different organizations and structures 16 VII Conclusion 18 VIII References 19 Table of Figure Figure 1: Figured from the Agribank’s Annual Report 2019 Figure 2: Figure from Action on Porverty Annual Report 2019-2020 Figure 3: Figure from FPT Annual Report 2020 Figure 4: Introduction of Vingroup Figure 5: Table of Sizes in Vietnam (Decree 39/2018/ NĐ-CP) Figure 6: Figure from Vingroup Annual Report 2020 Figure 7: Figure from Vingroup Annual Report 2020 12 I Introduction As a business analyst at Vietcombank Fund Management (“VCBF”), a joint venture between Joint Stock Commercial Bank for Foreign Trade of Vietnam (“Vietcombank”) and Franklin Templeton Investments The following report will delve into the companies that are doing business in Vietnam related to a variety of issues The company that will be selected to participate in the analysis is Vingroup, and below are the pieces of information needed to decide whether to invest in this group or not The report will cover the following issues: • Different types and purposes of companies • Size and scope of a company • Various organizational functions • Interrelationships between organizational functions • The complexity of different organizations and structures II Diffrent types and purposes of organizations Types and Purpose of various sectors 1.1 Public sector Public sector– The state holds assets in different forms, which it utilizes to offer a variety of products and services deemed beneficial to its inhabitants, even if this provision places the state in a "loss” (Worthington et al., 2006) State-owned firms are those in which the government owns more than 50% of the charter capital, or the total number of voting shares as defined by law (Loi, 2020) According to regulations in UK, public sector have two types: Public Corporation and Municipal enterprise (Worthington et al., 2006) Purposes of public sector: The primary focus of public sector organizations is public service; their goal is to offer the greatest service at any cost; to enhance the country's output by utilizing finite resources (UKEssays, 2015) Example and evidence Figure 1: Figured from the Agribank’s Annual Report 2019 Agribank is one of the banks in the public sector Through the definition of the public sector and the 2019 annual report of Agribank, a bank with 100% state charter capital, it can be seen that if the state owns 51% or more of charter capital, state-owned companies 1.2 Voluntary sector Voluntary (or third) sector– that are neither public nor private in nature Voluntary and community organizations (including registered charities and other organizations such as associations, self-help groups, and community groups), social enterprises, mutuals, and co-operatives are all included (NAO, 2010) Voluntary sector have two types: Non-profit and Social Enterprises (Education, 2021) Purpose of voluntary sector is not a for-profit company A charitable organization dedicated to achieving a social goal, such as ending poverty or increasing health care A social enterprise is a firm that aims to make a good impact on the environment and society while still producing consistent money (Education, 2021) Example and evidence: Figure 2: Figure from Action on Porverty Annual Report 2019-2020 Action for Porvety is one of the NGOs in Vietnam This organization has more than 50 years of experience in international construction and development in supporting and benefiting people such as poverty alleviation, helping farmers in farming, etc Besides, NGOs also help create links between Vietnam and other countries in the world 1.3 Private sector Private sector are owned by people and groups that have decided to invest in some type of commercial venture, generally for personal gain (Worthington et al., 2006) According to regulations in UK, private sector have four types: the sole trader, the partnership, limited companies and co-operaties (Worthington et al., 2006) Purpose of private sector: Profit maximization, growth, market share expansion, and sales expansion are all goals (UKEssays, 2015) Example and evidence: Figure 3: Figure from FPT Annual Report 2020 Through the definition as well as the 2020 annual report of FPT, we can see that this is a company with more than 50% of charter capital coming from individuals or organizations, while the state's charter capital accounts for more than 50% of the charter capital, less than 50%, and the main goal of this type is profit Therefore, we can conclude that FPT is one of the companies in the type of privately owned company III Size and scope of a company 1.1 Introduction of Vingroup Figure 4: Introduction of Vingroup Vingroup is a significant Vietnamese joint stock corporation Vingroup's forefather is the Technocom firm, which was formed in Ukraine in 1993 When Technocom returned to Vietnam in the early 2000s, they concentrated on tourism and real estate with two important brands, Vinpearl and Vincom Vincom Joint Stock Business and Vinpearl Joint Stock Company amalgamated in early January 2012, and it was formally managed on the group model under the name Vingroup Group-a joint stock company Vingroup operates and grows aggressively in three major business areas: technology, industry and trade, and service Regardless of area, the Group strives to offer products and services of worldwide standards to the market as well as customers, as well as to develop entirely new experiences regarding a modern living Vingroup is always a trailblazer, introducing customers to new trends 1.2 Size and scope a Size The size of a business unit corresponds to the size of a business entity The term "business size" refers to the scale of a company's organization and operations It refers to the size or volume of business produced by a particular company (iEduNote, 2021) The size of a business in Vietnam is based on the following factors: total capital, total revenue and total number of employees (Economica, 2017) Figure 5: Table of Sizes in Vietnam (Decree 39/2018/ NĐ-CP) Figure 6: Figure from Vingroup Annual Report 2020 Based on the scale comparison table above, based on numbers such as Total Capital, Total Revenue, and the total number of employees, it can be seen from large companies to small and micro-companies According to Vingroup’s financial statements, the total capital is 422,503,767 million dongs, the total revenue is 110,490 billion dongs and the total number of employees is 44.1 thousand people From those numbers, it can be confirmed that the scale Vingroup is a large corporation (Vingroup Annual Report, 2020) b Scope Stakeholders analysis Stakeholders are individuals who have a voice in how a company’s operations are run in the future Individuals or organizations that rely on a firm to achieve its goals are referred to as stakeholders (Fernando, 2021) There are two sorts of parties at stake: Specialty units, local officials, production lines, and workers at various levels of the organization’s structure are all examples of internal stakeholders (G Johnson et al., 2017) The operations and success of a corporation have an influence on people who not work directly for the company External stakeholders are referred to as vendors, investors, and public bodies (G Johnson et al., 2017) Vingroup’s stakeholder analysis Internal stakeholders Internal stakeholders will be concerned about economic efficiency and market presence, as will shareholders and investors Second, employees will care about a variety of and equitable possibilities, as well as fair compensation, employment, education, and human rights The regulator's third focus will be on compliance, anti-corruption, and public policy (Vingroup Annual Report, 2020) External stakeholders Wastewater and garbage, as well as energy and local communities, will be of interest to external stakeholders such as local and community Customers will also be worried about safety and health, as well as product responsibility In addition, equitable opportunities and supplier evaluation will be important to partners and suppliers (Vingroup Annual Report, 2020) The business objective is a goal, or where the company want to go in the future Objectives are required in every area where performance and outcomes have a direct impact on a company's existence and prosperity (Toppr, 2021) The objectives of a business can be classified into two main categories, which are: Economic objectives such as profitability, market share/customer creation, innovation & resource utilization, productivity growth Social objectives such as offering reasonable prices for goods and services, creating jobs, paying employees fairly, and participating in community service (Toppr, 2021) Applied to Vingroup Economic objectives Vingroup has set a net revenue target of 170,000 billion VND (more than 7.3 billion USD) in 2021, indicating an almost 54 percent growth over 2020 During the same time period, profit after tax is roughly 54,000 billion VND (Son, 2021) Maintain leadership in the real estate, industrial, and service and product ecosystems ( Vingroup Annual Report, 2020) Ensure economic performance as well as long-term, effective growth In which the Group will encourage consistent and reliable income and profit streams in order to further its goal of becoming a Technology-Industry Group Furthermore, the company will always optimize and sensibly use the group's capital structure to raise money in local and foreign markets ( Vingroup Annual Report, 2020) The corporation's growth philosophy will be connected with social responsibility in order to make a sustainable contribution to the economy ( Vingroup Annual Report, 2020) Improve the enterprise's governance and management capability ( Vingroup Annual Report, 2020) Social objectives The Group always establishes long-term human resource development goals, such as protecting employee rights and equality, creating a strong culturally coherent workplace, focusing on training long-term human resources, and engaging employees through union and community activities ( Vingroup Annual Report, 2020) For society, the firm always strives to achieve goals such as producing goods for the community, enhancing the social environment in regions where Vingroup is present, and demonstrating responsibility to partners, customers, and the community ( Vingroup Annual Report, 2020) Environmental protection is another aim that the Group prioritizes, such as saving power, water, decreasing emissions and noise in Vingroup projects; promoting the environmental protection plan in real estate project management; producing green goods, and living space near to nature ( Vingroup Annual Report, 2020) 10 Definition of Vision and Mission Based on your objectives and desires, a vision is a clear mental image of what you want your business to be in the future Having a clear vision for your company can help you stay on track and avoid going in the wrong path (Queensland, 2021) A mission statement is an action-based declaration that states an organization's purpose and how it serves its consumers This might include a description of the business, what it does, and its goals (Fond, 2020) Applied Mission and Vision to Vingroup Vision of Vingroup - Vingroup aspires to become the region's top Technology, Industry, and Services company (Vingroup – Mai mai tinh than khoi nghiep, 2019) Mision of Vingroup- to improve the lives of Vietnamese people (Vingroup – Mai mai tinh than khoi nghiep, 2019) How the vision, mission and objectives meets the needs and interests of the stakeholders From the concerns of the above stakeholders, it can be seen that the vision, mission and goals set by the corporation have met the issues desired by the stakeholders Vingroup always wishes to pioneer, form a supply chain of high-quality products and services, and have a long-term investment and development plan Vingroup is constantly looking for ways to improve the quality of life for Vietnamese people and strengthen their position in the world (Nguyen, 2016) Today, the least developed industries in Vietnam are technology and industry The cause of underdevelopment is the lack of knowledge and trust among partners in Vietnamese enterprises, as well as Vingroup As a result, Vingroup always strives to become a pioneer in these fields Not only that, to develop according to plan, Vingroup has assigned the Vinmart system to Masan to optimize development resources for the technology segment, allowing them to accomplish exactly what they want and what the company offers Vingroup always provides the market with the most modern goods and services Moreover, Vingroup clearly understands the needs of the market and is therefore able to provide consumers with innovative and differentiated goods Not only that, but Vingroup also offers low-cost but high-quality products that can satisfy customers Besides, Vingroup is constantly committed to cooperation and development Vingroup is also committed to becoming the number one partner and always offers attractive, sustainable and value-added investment plans the best advancement potential and the most guaranteed income Finally, Vingroup constantly participates in local community activities, treats waste sources, creates green products and promotes environmental protection projects ( Vingroup Annual Report, 2020) 11 1.3 Size and scope of Vingroup helps it to achieve company’s objectives Vingroup has said that it would promote commercial operations in 2021 in order to enhance the group's three primary pillars: technology, industry, and trade in services, resulting in a "tripod" posture For 2021, Vingroup has set a sales target of USD 7.3 billion (Son, 2021) From this aim, it is clear that the firm's joint stock company type is appropriate for the specified target since the joint stock company has the capacity to mobilize capital in a flexible manner Loans from local and international organizations and individuals are used to mobilize capital Furthermore, the issuing of shares and bonds assists the firm in developing its commercial operations in the sectors that it is pursuing, therefore avoiding a capital deficit (Nguyen, 2021) Vingroup Group – Joint Stock Company (abbreviated "Vingroup" or "The Group") is Vietnam's largest private business and the enterprise with the highest market capitalization on the Vietnamese stock exchange The Group's goods and services are constantly designed to provide consumers with worldwide quality VinFast, VinSmart, VinTech, and One Mount Group are examples of technology-industrial goods In it, we can see that the industrial section Vingroup has a monopoly on vehicle manufacturing in the country; the group is constantly developing technology Vinhomes, Vinhomes Serviced Residences, VinOffice, VHIZ, Vincom Retail, Vinpearl, VinWonders, Vinmec, VinSchool and VinUni are some of the services available Furthermore, Vingroup's products have reached the majority of Vietnam's provinces About the group's vision: "Vingroup aims to become the region's top Technology-Industry-Trade Service Group"; about the mission: "For a better life for everyone." According to the above, the company's size, scope, and type must be large enough, the capital must be substantial enough to business in many different sectors, and the group's countrywide coverage has been enhanced to assist the group accomplish the specified objectives, goods, and services ( Vingroup Annual Report, 2020) IV Diffrent organizational Function 1.1 Organizational Chart Figure 7: Figure from Vingroup Annual Report 2020 12 Definition of Matrix organization structure: A matrix organizational structure is a hybrid of two or more organizational systems The matrix organization is the framework that connects these various organizational systems in order to provide equilibrium Typically, there are two chains of command, with project team members reporting to two different bosses or supervisors (Westland, 2018) Apply to Vingroup According to the organizational chart of Vingroup, it can be seen that the group is organized in two types: functional organizational structure and organizational structure by unit or by project From this, it can be asserted that the organizational structure of the corporation is a matrix organizational structure when it has a combination of different types of organizational structures 1.2 Main function of key departments and how they link to the objective of Vingroup Components of the Vingroup Management Structure: The General Meeting of Shareholders,The Board of Direction, The Supervisory Board, The Management, The Corporate Office and The P&Ls ( Vingroup Annual Report, 2020) The General Meeting of Shareholders ("GMS") is Vingroup's highest level of authority and comprises all shareholders with voting rights The GMS establishes essential governance structures and has the authority to designate members of the Board of Directors and Supervisory Board ( Vingroup Annual Report, 2020) The Board of Directors ("BOD") is the Group's management body, elected by the General Meeting of Shareholders and given the authority to make business decisions for the Group as well as exercise rights and responsibilities that not fall under the jurisdiction of the General Meeting of Shareholders The Board of Directors is made up of nine members, three of whom are independent directors This structure provides openness and complies with current Vietnamese legislation as well as international norms ( Vingroup Annual Report, 2020) The Board of Directors appoints the CEO and Deputy CEOs to the Management The Management is in charge of monitoring the Group's business operations by managing and supervising the division heads at the corporate office as well as the top executives at each P&L The CEO is the Group's legal representative and has the most authority in directing the Group's day-to-day activities ( Vingroup Annual Report, 2020) The Corporate Office is the entity in responsibility of assisting the Board of Directors, the CEO, and the Company's Management in developing the Group's business plans and orientations ( Vingroup Annual Report, 2020) The P&Ls are in charge of carrying out Group decisions and addressing matters that not fall under their purview According to the laws and Group rules, the P&L is directly responsible for the day-to-day operations of 13 the business units and reports to Group management The P&Ls are also in charge of raising concerns to the Group that harm shareholder interests ( Vingroup Annual Report, 2020) The Supervisory Board has increased control and supervisory operations and collaborated with the Board of Directors and Management to monitor and analyze the results of GMS and BOD resolutions The Supervisory Board also followed audits by the Internal Audit Division and the Group's external audit reports, in order to screen for risks resulting from continuing operations, within the extent of the roles and tasks defined in the Law on Enterprises, Charter, and internal rules (Vingroup Annual report,2020) Each department has its own function, but they all aim for a common goal: to help Vingroup become an international corporation by creating products and services with Vietnamese brands that meet international standards The departments always closely support each other in reporting the financial situation, checking honesty, as well as being prudent in management and administration Implement business plans and investment plans One objective and how key departments help to achieve that objective Human resources are always regarded as a critical component and a valued asset by Vingroup With the tagline "Vingroup - Forever the spirit of entrepreneurship," the Group has developed a lean team that includes both German and Talent employees The Group's recruiting aim is to attract and welcome all individuals who wish to work in a dynamic, fast-paced, creative, and productive atmosphere where everyone can maximize their potential and skills Furthermore, Vingroup prioritizes human resource development by effectively implementing training programs and enhancing employees' knowledge and professional qualifications Training is not only for the purpose of improving employees' qualifications so that each member becomes a worthy representative of Vingroup in any circumstance, but Vingroup will also contribute to the improvement of the quality of human resources in Vietnamese enterprises in general through the training system (Vingroup, 2021) Some outstanding training activities in 2020 as: • Training leadership and management skills for all workers through more than 10,000 online courses (Vingroup Annual report,2020) • Training and development of resource employees: Personal development plans have been prepared for every resource staff Staff mentoring with KPIs for training and resource development Chapters resource staff training program for typical positions such as General Manager Vinpearl Manager, Resident Doctor/Nurse Vinmec, Principal of Vinschool, accomplished to be highly effective, satisfy the demands camp personnel for each facility PhD students and engineers can participate in a training program in artificial intelligence and data science (Vingroup Annual report,2020) 14 • Professional development training, particularly in the sectors of manufacturing, health, education, and technology (Vingroup Annual report,2020) • Service quality will be improved through a training program at VinFast, VinSmart, Vinpearl, Vinmec, Vincom Retail, Vinhomes, and Vinschool (Vingroup Annual report,2020) • Fire prevention and defense training in accordance with state requirements Occupational hygiene and safety, food hygiene and safety, and vocational certificate training for jobs that require certification (Vingroup Annual report,2020) From the actions for sustainable human resource development listed above, it is clear that BMTW is in charge of conducting centralized activities with broad implications for the group, such as administration, human resource policy formulation, and training human capital Through the use of sophisticated technologies, BMTW has continually reinvented training formats Furthermore, the collaborating units carefully arrange the testing and assessment of the abilities of state personnel Employees at all levels have been drawn to and participated in human resource training and development programs (Vingroup Annual report,2020) V Interrelationship between organizational functions 1.1 Evidence showing that key departments link together and support each other to obtain company’s goals According to Annual report 2020, the governance architecture of Vingroup is based on four prefixes: equity, efficiency, responsibility, and transparency This is an excellent approach for keeping core values, running company operations effectively, stratifying activities amongst online sites, and creating synergies between layers, operations, and functions to achieve business goals (Vingroup Annual report,2020) After three years of launching a governance revolution for the first time, dubbed "5 Chemistry," Vingroup announced revisions in principles in 2020 to better meet the real operating environment and requirements Since then, the Group has used the new "5 Chemistry" approach and utilized its strength at BMTW and P&L "Nuclearization-Standardization-Simplification-Automation-Efficiency" is included Vingroup always thinks "people are the cause of all activities," which is why the principle of "Nuclearization" is at the top of its priority list The whole human resources structure of the group is developed around the criterion of becoming a TINH, professional, and successful team, according to the company's slogan The example, effort, and hard labor of the system's employees is a distinguishing quality Employees are given responsibilities and are expected to bind the outcomes Furthermore, one of the major goods of workers is the duty of teaching the new generation to assure significant duties in the future Furthermore, Vingroup's Board of Directors has created and actively executed several power supply training programs in order to develop a world-class management system and long-term attachment to the Group All of the criteria are systematized and simplified as a result of this The Group and its P&Ls will be able to standardize and simplify the distribution of procedures, notably for operators in industries, 15 hotels, or hospitals The "Standardize-Simplify-Automate" method has the significant advantage of making managerial activities more clear, convenient, and simple, allowing employees in the system to work less stressfully The task of expanding the number of people is not difficult since there is a comprehensive information system in place, and the outcomes are regulated and closed Furthermore, the effort "Efficiency" strives to generate income, optimize expenses, and improve the Group's long-term worth (Vingroup Annual Report, 2020) 1.2 If there is one department change, will it affect organizational structure and objective For example, if a business eliminates the Corporate Office, it will have a significant influence on the company's aims and organizational structure for the following reasons: • This is a professional apparatus tasked with advising and assisting the Board of Directors and the Board of Directors on economic and social goals methods and orientations (Vingroup Annual report,2020) • This department is also responsible for oversight and engagement with subsidiaries to guarantee that they are constantly operating at their best There would be no one to review, assess, and approve each subsidiary's business plans if this department did not exist (Vingroup Annual report,2020) • This is also the location for focused operations, the establishment of civil policies, and the provision of training and legal assistance Compliance with the law is essential for any business This will be the location where the heads may learn about the current Enterprise Law legislation (Vingroup Annual report,2020) • Brand development is critical for a company in establishing its position in the local market Perhaps in the future, this brand will be recognized on a global scale (Vingroup Annual report,2020) • When it comes to investing in a firm, investors' interests are also essential This department will be in charge of ensuring investment rates and optimizing investor rewards shareholders (Vingroup Annual report,2020) • When the group has set a target of collecting VND 170,000 billion in net revenue in 2021, it also plays an equally significant function in terms of capital mobilization and acquisition and sale to invest in large projects in the future (Vingroup Annual report,2020) From the above reasons, it can be affirmed that the Corporate Office is the effective right hand of Vingroup's governance structure Although this is not a department that can make all decisions, it is a department with the function of analyzing and advising on the plans that The General Meeting of Shareholders and The Board of Directors have set out This department also plays the role of keeping the relationship between subsidiaries, overseeing the activities of subsidiaries (Vingroup Annual report,2020) From the example above can see if there is one department change, it will affect the organizational structure and objective of Vingroup VI Complexities of different organizations and structures Introduce about International business 16 International business is defined as any commercial operations that cross national boundaries, such as the creation and transfer of resources, commodities, services, know-how, skills, and information Raw materials, energy, technological know-how and patents, capital, and organizational skills are examples of resources Manufactured components, subassemblies, and assemblies are examples of goods Accounting, financial, legal, consultancy, import and export, health care, and transportation are examples of services Know-how can include technological advancements in products and processes, as well as copyrights, trademarks, and brands Organizational and management abilities are examples of talents (Tatah, 2021) Any commercial activity performed across national boundaries is referred to as international business There are several approaches of internationalizing a firm To begin, a business might select one of the five fundamental tasks such as: Importing & exporting; Licensing; Franchising; Strategic partnetships & Joint venture; Foreign direct investment (FDI) (Chantaput, 2015) Apply to Vingroup Importing & Exporting Business Imports are goods or services that are carried into a country from another (Chantaput, 2015) Exports are goods or services produced in one nation that are then sold in another (Chantaput, 2015) Import-export is the most basic and largest international commercial activity, and it is frequently the first choice when companies seek to grow internationally since it is the simplest method to join the market with a little outlay of cash (Chantaput, 2015) Vingroup has had international business activities, including two segments in phones and automobiles For the phone segment, VSmart has officially been exported to three countries: Russia, Spain, and Myanmar For the automotive segment, VinFast has officially put branches in the US, Canada, France, Germany and the Netherlands into operation In addition, VinFast has also opened an official office in Australia (Vingroup – Mai mai tinh than khoi nghiep, 2020) Based on current international business activities of Vingroup It can be affirmed that Vingroup is following import and export business VSmart has introduced smartphone lines into international markets through distributors such as TFT Trading (Russia), Strong Source (Myanmar), and two big retailers, Mytel and Alibaba (Myanmar) This is a wise decision given that the markets mentioned above are all significant and promising markets with high growth rates VSmart has been extremely astute and responsive in determining the demands of customers in various regions VSmart was introduced in Russia at the same time that the 5G network was being developed VSmart's smart product models can handle the 5G millimeter range, giving users the best However, on May 9, 2021, Vingroup officially 17 discontinued development and production of mobile phones in order to devote resources on creating electrical goods and features for VinFast vehicles (Vingroup – Mai mai tinh than khoi nghiep, 2020) In order to prepare for the future, VinFast Trading and Service Co., Ltd formally opened its branches in the United States, Canada, France, Germany, and the Netherlands on July 12, 2021 With each market launch, VinFast moves closer to its aim of being a worldwide smart electric car company Producing smart electric automobiles to target these countries is a wise decision, especially because Europe and North America have declared plans to phase out the sale of cars with combustion engines In addition, Mr Michael Loscheller, who formerly served as Vice President of Volkswagen America and General Director of Opel Worldwide, has been selected as the global general director of VinFast by Vingroup With over 20 years of industry expertise, he will be able to support the internationalization plan, with the objective of making VinFast a worldwide smart electric vehicle firm Vingroup was extremely intelligent and knowledgeable in selecting people to join the senior leadership ranks of VinFast, and also demonstrated the strategy of linking knowledge and technology, recruiting talents to support business in the market Foreign markets will see some success, and this will serve as a springboard to introduce VinFast to all countries across the world (Vingroup – Mai mai tinh than khoi nghiep, 2020) VII Conclusion This report provides a definition of the size and scope, functions and structure of the company doing business in Vietnam This report also provides the necessary information about Vingroup, which with its profit capital is considered one of the largest corporations in Vietnam, has clear economic and social goals, a high vision as well as a clear mission to develop the company, a closely linked organizational structure, a large business market stretching across the country, and having business activities in the overseas market promises to become a corporation of international stature From there, it can be seen that investing in Vingroup is a wise choice and they deserve to be invested 18 VIII References 1.AGRIBANK, 2020, Annual Report 2019 Available at https://info.agribank.com/investorrelations/FinancialReports/AgriBank Only Ann_2019 Final.pdf (Accessed October 2021) ACTIONNONPOVERTY, 2021, Annual Report 2020 Available at: https://actiononpoverty.org/wp- content/uploads/2020/11/Annual-Report-19-20-Low-res.pdf (Accessed October 2021) Business.qld.gov.au 2021 Create a business vision | Business Queensland [online] Available at: https://www.business.qld.gov.au/starting-business/planning/business-planning/vision [Accessed 15 October 2021] Chantaput, V., 2015 Forms of International Business [online] Global Business Opportunities Available at: https://sopapornchantaput.wordpress.com/2015/06/28/5-forms-of-international-business/ (Accessed October 2021) Economica.vn n.d [online] Available at: http://www.economica.vn/Content/files/LAW %26 REG/SME Support Law 2017(1).pdf (Accessed October 2021) FPT, 2021, Annual Report 2020 Available at: https://fpt.com.vn//Images/files/cong-bo/2021/FPT-ARENG_web.pdf (Accessed October 2021) Fond 2021 Best Mission Statements: 12 Examples You Need to See [online] Available at: https://www.fond.co/blog/best-mission-statements/(Accessed October 2021) G Johnson et al., 2017 Exploring Strategy: Text and Cases 11th ed Harlow: Pearson Habib, A., 2021 Non-profits vs Social Enterprises: What's the Difference? [online] Blog.insightglobaleducation.com Available at: http://blog.insightglobaleducation.com/non-profits-vs-socialenterprises-whats-the-difference - :~:text=Non-profits rely on public,where they get their money [Accessed 15 October 2021] 10 iEduNote 2021 Size of Business Unit: Definition, Measures, Factors, Concepts, Optimum Size of Business [online] Available at: https://www.iedunote.com/size-of-business (Accessed October 2021) 19 11 Investopedia 2021 Learn What Stakeholders Are and the Roles That They Play [online] Available at: (Accessed October 2021) 12 Loi, T., 2021 Khái niệm 'Doanh nghiệp nhà nước' thay đổi từ 01/01/2021 [online] Thuvienphapluat.vn Available at: https://thuvienphapluat.vn/tintuc/vn/thoi-su-phap-luat/chinh-sach-moi/30534/khai-niem-doanhnghiep-nha-nuoc-se-thay-doi-tu-01-01-2021 [Accessed 15 October 2021] 13 Nao.org.uk 2021 What are third sector organisations and their benefits for commissioners?- [online] Available at: https://www.nao.org.uk/successful-commissioning/introduction/what-are-civil-society- organisations-and-their-benefits-for-commissioners/[Accessed 15 October 2021] 14 Nguyen, H., 2021 Luat Viet Nam [online] Luat Viet Nam Available at: https://luatvietnam.vn/doanhnghiep/cong-ty-co-phan-561-19339-article.html [Accessed 15 October 2021] 15 Tatah, A., 2021 INTERNATIONAL BUSINESS (Introduction) [online] Academia.edu Available at: https://www.academia.edu/8342604/INTERNATIONAL_BUSINESS_Introduction_ [Accessed 15 October 2021] 16 Ukessays.com 2021 The Purposes Of The Public Sector Organizations Business Essay [online] Available at: https://www.ukessays.com/essays/business/the-purposes-of-the-public-sector-organizations-businessessay.php#citethis [Accessed 15 October 2021] 17 VINGROUP, 2021, Annual Report 2020 Available at: https://ircdn.vingroup.net/storage/Uploads/0_Bao cao thuong nien/2020/Vingroup AR 2020_210924_EN_1.pdf (Accessed October 2021) 18 vnexpress.net 2021 Vingroup đặt mục tiêu doanh thu 7,3 tỷ USD năm 2021 [online] Available at: https://vnexpress.net/vingroup-dat-muc-tieu-doanh-thu-7-3-ty-usd-nam-2021-4278445.html (Accessed October 2021) 19 VinGroup 2020 Vingroup - Mãi tinh thần khởi nghiệp [online] Available at: (Accessed October 2021) 20 Vingroup 2021 Vingroup [online] Available at: https://vingroup.net/phat-trien-ben-vung/19/chien-luoccon-nguoi [Accessed 15 October 2021] 21 Worthington, I., Britton, C and McMillan, K., 2006 The business environment 5th ed Harlow: Financial Times Prentice Hall 20 22 Westland, J., 2018 Matrix Organizational Structure – A Quick Guide [online] ProjectManager.com Available at: https://www.projectmanager.com/blog/matrix-organizational-structure-quick-guide (Accessed October 2021) 23 2021 [online] Available at: https://www.toppr.com/guides/business-studies/nature-and-purpose-ofbusiness/objectives-of-business/ (Accessed October 2021) 21 ... October 20 21] 17 VINGROUP, 20 21, Annual Report 20 20 Available at: https://ircdn.vingroup.net/storage/Uploads/0_Bao cao thuong nien /20 20/Vingroup AR 20 20 _21 0 924 _EN_1.pdf (Accessed October 20 21) 18... October 20 21) Economica.vn n.d [online] Available at: http://www.economica.vn/Content/files/LAW %26 REG/SME Support Law 20 17(1).pdf (Accessed October 20 21) FPT, 20 21, Annual Report 20 20 Available... 20 21, Annual Report 20 20 Available at: https://actiononpoverty.org/wp- content/uploads /20 20/11/Annual-Report-19 -20 -Low-res.pdf (Accessed October 20 21) Business.qld.gov.au 20 21 Create a business