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Higher Nationals Assignment Brief – BTEC (RQF) Higher National Diploma in Business (Business Management) Student Name /ID Number Unit Number and Title Unit 24: Understanding and Leading Change Academic Year 2022-23 Unit Assessor Aung Kyaw Oo Assignment Number and Title ULC1: Drivers of Change and Organisational Impact (1 of 2) Issue Date 22nd September, 2022 Submission Date 4th November, 2022 IV Name Date Submission Format: The submission is in the form of an individual written report This should be written in a concise, formal business style using single spacing and font size 12 You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system Please also provide a reference list using the Harvard referencing system The recommended word limit is 2,000–2,500 words, although you will not be penalised for exceeding the total word limit Pearson Education 2018 Higher Education Qualifications Assignment Brief Unit Learning Outcomes: LO1 Produce a comparative analysis of the different types and drivers of change in business LO2 Evaluate the impact of change on organisational behaviour Assignment Brief and Guidance: CASE STUDY 1: VINAMILK Introduction COVID-19 is a harsh test for businesses and the whole economy which compels companies to adapt and change to not only survive but also recover and grow stronger as soon as the pandemic is under control Each business will have a different way of solving this problem At a typical large-scale enterprise like Vinamilk, dual goals (stabilise production and prevent the disease) are implemented based on three key spearheads: Governance, Technology and People Vinamilk has implemented a series of change management to achieve these goals Flexible management for speedy response For most businesses, even short-term production plans are usually drawn at least six months in advance However, continuous outbreaks of COVID-19 have changed this significantly According to Vinamilk’s CFO Le Thanh Liem, businesses had to change their planning from a 6month or 1-year plan to a less than 3-month plan This change is necessary for this pandemic situation The management board must closely monitor and regularly update the market situation to make timely decisions For example, at the initial stage of the pandemic in Vietnam, Vinamilk had to find ways to reduce inventory to optimise cash flow But at the time when the disease intensified, disrupting the supply chain and causing input materials to be in short supply, Vinamilk adjusted its strategy to increase inventories to promptly supply production activities "If keeping inventory at a normal level, it will not meet the plan implementation of the next quarter," Liem said In addition, Vinamilk has taken advantage of its nationwide production and distribution system to stabilise production even when some localities had to implement social distancing measures Technology increases flexibility One of the most profound and obvious impacts of COVID-19 is forcing businesses to move “from offline to online” At this time, technology comes to the fore in ensuring smooth business operations At Vinamilk, the employment of technology and investment in digital transformation has been implemented for many years For example, the ERP system (enterprise resource planning) was employed 15 years ago which helped facilitate sales and distribution activities, improving business efficiency The cashless payment system also helped Vinamilk’s payment system run smoothly Vinamilk’s factories and farms all apply automation and 4.0 technology, ensuring systematic and remote management "Vinamilk's supply chain operates entirely on the information technology system, connecting from the input - the purchase of raw materials - to the final output - the product to the consumer," Vinamilk’s representative said The company also equips technologies, tools and software to support communication and remote work including e-Office, online browser system, solutions to help employees access company data from home and digital signatures to ensure smooth operation in the company and with partners even during the "work-from-home" time People - the decisive factor Confronting COVID-19, human issues have become more important than ever The company and people must implement changes The critical issue at this time is to ensure the health and safety of employees to maintain stable business and production amid the pandemic From the beginning of 2020, Vinamilk has established a professional support committee for COVID19 prevention and control, disseminating information and guiding employees to comply with the preventive measures while being online 24/7 to support problems related to the disease The company also provides employees with preventive tools and nutritional products In addition, Vinamilk also makes employees feel secure to work with full salary and welfare payment policy; enhancing support for employees at “three on-site” units; and proactively supporting employees in testing and vaccination Braving challenges, Vinamilk still rose six notches to 36th position in the world’s Top 50 dairy producers by total sales in the 2021 ranking by UK-based Plimsoll Publishing Ltd The company also appeared in Brand Finance's Top 10 Most Valuable Milk Brands in the world with a valuation of 2.4 billion USD Even when the pandemic is under control, the market picture will never return to the way it was before Businesses need not only strength and endurance, but also flexibility and sensitivity to find development directions when the economy returns to "new normal" Vinamilk has implemented the right changes through flexible management, speedy response, technology and people 2: VINFAST Introduction Established in 2017, VinFast is a private automotive manufacturer headquartered in Vietnam The company is a member of the Vingroup conglomerate, founded by Phạm Nhat Vuong VinFast’s state-of-the-art, 90% automated manufacturing complex in northern Vietnam is one of the largest in Southeast Asia It is the first Vietnamese car brand to expand into global markets as well as the first Vietnamese car brand to expand into producing Electric Vehicles (EVs) such as electric cars and electric scooters Vinfast has invested $3.5 billion in the development of this project which has an annual production capacity of 250,000 cars Changes in Business VinFast also launched Vsmart-branded smart phones, running on Android in 2018 The smartphones are part of an ecosystem of smart AI devices the group plans to launch to market In May 2021, Vinfast announced that it would cease the production of smartphones In 2018, Vingroup has announced its plan to become an international-standard technology-industryservice business in the future In March 2019, Vingroup acquired the e-wallet platform MonPay In the same year, the South Korean conglomerate SK Group bought a 6.1% stake in Vingroup for $1 billion On September 10, 2020, VinFast announced that a loss of VND 6.6 trillion ($284 million) in the first half of the year On February 9, 2022, Nikkei, Japan-based world's largest financial newspaper, reported that Vingroup, Vinfast's mother company, lost approximately $1.05 billion in 2021" at its manufacturing segment last year due to sluggish sales of gasoline-powered cars at home and growing investments in the emerging electric vehicle business Changes in Leadership On July 27, 2021, parent Vingroup announced that Michael Lohscheller, the CEO of Opel, had been appointed CEO of VinFast Global Five months later, on December 27, 2021, it was announced that Lohscheller had resigned the position and return to Europe due to personal reasons Vingroup has appointed Le Thi Thu Thuy, the incumbent Vice-Chair, as its new VinFast Global CEO Madam Thuy will take over the VinFast Global CEO position, managing VinFast’s operations and driving the Vietnamese carmaker towards becoming a global electric vehicle brand She will also maintain her current position as the Vice Chairwoman of VinFast’s parent company, Vingroup Based in Vietnam, the Vingroup Vice Chairwoman will directly oversee VinFast’s business activities in its current markets, including Vietnam, the US, Canada, France, Germany, and the Netherlands Madam Thuy will also lead market survey activities and expansions into other potential global markets in the coming years Leadership at VinFast Changes in leadership have significant impact on Vinfast Nguyen Le (2017), in The Leader business forum, analysed that Le Thi Thu Thuy, vice president of the corporation will also be one of the important factors that Pham Nhat Vuong trusts to steer the ship of VinFast Before joining Vingroup in 2008, she had worked for Lehman Brothers for eight years These actions prove that VinFast is pursuing a top-down management style This is the process of upper management or the chief executive officer reaching independent conclusions that change or improve the workplace or business systems These conclusions are then handed down to employees, who work to accomplish the goals on their own or with other employees Some lower-level managers may have input into how to accomplish the end goal, but they may not have much authority to change policies without approval from the highest level of management Quicker Response to Market Demand and Product Changes Designed to be one of the world’s leading smart electric mobility companies, VinFast currently produces several models of electric scooters and buses in Vietnam, and planned to launch three new electric SUVs – VFe34, VFe35 and VFe36, class C, D and E respectively - in Vietnam, North America and Europe in 2021 and 2022 On December 25, 2021, Vinfast delivered the first batch of 100 VF e34 electric crossovers to Vietnamese customers at VinFast's manufacturing complex in Hai Phong.The VF e34 marks VinFast's first EV model and the first ever electric vehicle to be manufactured and sold in Vietnam Because the VFe34 was the first smart car and electric vehicle in Vietnam, it opened a new category in the automotive industry Agility and adaption were keys for success VinFast conducted regular customer surveys, which were used to quickly make changes to key messaging and to adjust which channels were being used to drive the campaign This ensured that all ads were engaging potential customers with messages they connected to and on channels they preferred On January 6, 2022, reports emerged that VinFast plans to build new EV plants in Germany and the United States as part of the company's plans to retire production of gas-powered vehicles and transition fully to EVs by late 2022 (Sources: www.vietnamplus.vn, www.vinfastauto.com, www.theleader.vn, www.wikipedia.org, www.mmaglobal.com, ww.spectos.com, www.vneconomictimes.com, www.mckinsey.com) ROLE: You are training to become a business analyst in a large multinational organisation REQUIRED: Using above case studies, compare the impact that large-scale change has had upon the organisation’s strategy and operations Use appropriate theory to inform your discussion Include evaluation on how the change will have affected behaviours within the businesses and, using theory and models, propose measures that could be taken to minimise negative impact on the businesses The submission is in the form of a comparative report and should include the following: An introduction to the drivers and impacts of change and how it affects organisational strategy An overview of the organisation case studies A PEST/SWOT analysis to be undertaken for each case study to identify drivers of change Analysis for each organisation on the impact of change and the effects it has upon the organisation’s strategy and operations Evaluate on how change will have affected leadership, individuals and team behaviour Evaluate on how the impact of change was minimised, and the application of appropriate models to manage process of change efficiently Recommended Resources Textbooks CAMERON, E and GREEN, M (2019) Making Sense of Change Management 5th Ed London: Kogan Page DAWSON, P and ANDRIOPOULOS, C (2017) Managing Change, Creativity and Innovation 3rd Ed London: Sage HODGES, J and GILL, R (2015) Sustaining Change in Organizations London: Sage LEWIS, L K (2019) Organizational Change: Creating Change Through Strategic Communication Chichester: Wiley-Blackwell MEE-YAN, C-J and HOLBECHE, L (2015) Organization Development: a Practitioner's Guide for OD and HR London: Kogan Page NORTHOUSE, P G (2018) Leadership Theory and Practice 8th Ed London: SAGE PENDLETON, D and FURNHAM, A (2016) Leadership: All You Need to Know.London: Palgrave Macmillan STANFORD, N (2018) Organization Design: Engaging with Change 3rd Ed London: Routledge Websites www.businesstrainingworks.com Business Training Works Resources (General reference) www.managementtoday.com Management Today Leadership News and industry articles (General reference) www.mindtools.com Mind Tools Leadership Change Management (General reference) www.strategy+business.com Strategy and Business Leadership (Articles) Learning Outcomes and Assessment Criteria Learning Outcome Pass Merit Distinction LO1 Produce a comparative analysis of the different types and drivers of change in business P1 Review a range of contemporary examples of organisational change and their impact on business operations M1 Analyse drivers for change and the types of organisational change they have affected LO1 and LO2 P2 Compare drivers for change and their influence on organisational change LO2 Evaluate the impact of change on organisational behaviour P3 Analyse how leadership and individual behaviour in organisations can be affected by change M2 Critically evaluate the long-term implications of change on organisational behaviour P4 Evaluate measures that can be taken to minimise negative impacts of change on organisational behaviour Pearson Education 2018 Higher Education Qualifications Assignment Brief D1 Make justified recommendations that would minimise impact of organisational change on organisational behaviour ... and E respectively - in Vietnam, North America and Europe in 20 21 and 20 22 On December 25 , 20 21 , Vinfast delivered the first batch of 10 0 VF e34 electric crossovers to Vietnamese customers at VinFast's... Leadership On July 27 , 20 21 , parent Vingroup announced that Michael Lohscheller, the CEO of Opel, had been appointed CEO of VinFast Global Five months later, on December 27 , 20 21 , it was announced.. .Unit Learning Outcomes: LO1 Produce a comparative analysis of the different types and drivers of change in business LO2 Evaluate the impact of change on organisational behaviour Assignment Brief