NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL FIELD STUDY REPORT Supervisor Assoc Prof Dr Bui Duc Tuan Student name Bui Thi Thanh Huyen Student ID 11172144 HANOI, 2020 TABLE OF CONTENTS CHAPTER 1 GENE[.]
NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL FIELD STUDY REPORT Supervisor: Assoc.Prof.Dr Bui Duc Tuan Student name: Bui Thi Thanh Huyen Student ID: 11172144 HANOI, 2020 TABLE OF CONTENTS CHAPTER 1- GENERAL INTRODUCTION 1.1 General Information 1.2 History of Formation and Development .2 1.3 Organizational Structure 1.3.1 Board of Directors .3 1.3.2 Accounting Department .4 1.3.3 Sales and Marketing Department 1.3.4 Human Resource Department 1.3.5 Technology Department 1.3.6 Import-Export Department 1.4 Areas of Activity 1.4.1 Trading and Import-Export Construction Machinery 1.4.2 Marketing and Communications 1.4.3 E-commerce 1.4.4 Showroom and Retail System CHAPTER 2- THE COMPANY’S PERFORMANCE .7 2.1 Business Performance 2.2 Achievements, Difficulties and Topic Orientation .8 REFERENCES ABBREVIATIONS HR Human Resource JSC Joint Stock Company BOD Board of Directors CHAPTER 1- GENERAL INTRODUCTION 1.1 General Information - Name: Vietnam Construction Machinery Development Joint Stock Company (VINACOMA., JSC - VCM GROUP) - Operation field: Distribution and retail of construction equipments and machinery - Head Office: Level 2, Hanoi Group Building, 445 Doi Can Street, Ba Dinh District, Hanoi, Vietnam - International Transaction Center: 2nd Floor, Hanoi Group Building, 442 Doi Can Street, Ba Dinh District, Hanoi, Vietnam - General Warehouse and Service Center: Dong Tru Branch, Truong Sa Street, Dong Anh, Hanoi - Phone: (+ 84-24) 7304 2888 - Fax: (+ 84-4) 222 10950 - Email: contact@vinacoma.com.vn - Website: https://vinacoma.com.vn 1.2 History of Formation and Development From 2002 to 2005, the company was formerly established as a support center of import-export promotion with the name VINACOMA / VCM Im-Ex Consulting Center The Center operates mainly in the field of consulting, supporting import and export construction materials, construction equipment and construction machinery It had gained prestige from various enterprises during the period Between the two years 2005 and 2008, the Consulting Center was converted into a Joint Stock Company with the brand name VINACOMA / VCM Group It directly imports construction machinery from developed countries such as Japan, German, Singapore as well as export machinery from Vietnam to foreign countries During the 2008-2011 period, it promoted import and export construction machinery and supported other businesses in the industry to expand and develop markets from all over the world VINACOMA developed and expanded its business to many fields including real estate, communication and construction electronics retail chain When there was a global financial crisis and most of the businesses were dissolved and went bankrupt in Viet Nam (2011-2015), the company experienced its most difficult period to maintain the business and overcome difficulties From 2015 to 2017, VINACOMA maintained its business growth and acquired achievements in business and scaled up This was considered to be the premise in its roadmap to grow stronger in the coming years 2017-2020 Vinacoma's strategic development orientation is to become the number one corporation in Vietnam as well as a multidisciplinary corporation to ensure sustainable development in future 1.3 Organizational Structure VINACOMA., JSC has a total of 71 employees including full-time and part-time staff There are six departments working under the control of the Directors and CEO, and they are Sales Department, Human Resource Department, Accounting Department, Technology Department, Import-Export Department and Marketing Department. BOD CEO Sales Marketing Department E-commerce HR Department Social Media Commerce Accounting Department Systmem Management Quality Management Technology Department ImportExport Department Marketing Department R&D Programming Design Figure 1.1 Organizational structure of VINACOMA., JSC Source: VINACOMA., JSC HR Department 1.3.1 Board of Directors VINACOMA., JSC has a board of directors consisting of highly qualified people with outstanding management skills and business-oriented development The functions of BOD in VINACOMA includes: - Establish vision, mission and values - Build up organizational structure and set strategy - Delegate authority to managers, monitors and evaluate the implementation of policies, strategies and business plans Exercise accountability to shareholders and be responsible to relevant stakeholders 1.3.2 Accounting Department The Accounting Department is responsible for recording daily transactions (including sales, purchasing, leasing, tax and borrowing) and the use of capital as well as cooperating with the HR Department to control and pay compulsory insurance and personal income tax for the tax authorities on behalf of employees 1.3.3 Sales and Marketing Department These Departments have to search for and identify potential clients on social media and websites, then reach out to those clients and make contact Salespeople identify the needs of clients, find out any relevant information for making a sale, deliver presentations and proposals and close sales Both Departments cooperate to set strategy for each stage in order to attract more customers and boost revenue Besides, managing customer relationships is also their to-do 1.3.4 Human Resource Department HR Department is the one recruiting, screening, interviewing and placing workers They also handle employee relations, payroll, benefits, and training They oversee specialists in their duties, consult with executives on strategic planning, and link a company's management with its employees 1.3.5 Technology Department The Technology Department is responsible for the hardware, software and networking of computers in the company Technological staff ensure that employees have full access to the computer systems 1.3.6 Import-Export Department Import-Export Department searchs for the potential suppliers of construction machinery, document shipments to ensure that the company is in compliance with customs rules and regulations and counsel clients on matters like tariffs, insurance, and quotas They also keep track the shipment of the goods 1.4 Areas of Activity VINACOMA operates in fields including Marketing and Communications, Ecommerce, Showroom and Retail System, Trading and Import-Export Construction Machinery 1.4.1 Trading and Import-Export Construction Machinery VINACOMA gradually affirms its reputation in the field of importing and exporting construction machines in both domestic and foreign markets It supplies a variety of construction machines such as excavators, bulldozers, rollers, trucks, cranes and mining equipment Moreover, the import and export activities of VINACOMA are increasingly expanded VINACOMA wants to associate with domestic and foreign partners in order to improve production capacity, thereby promote the general growth of other business areas in the company - The company provide services including: Importing machines and equipments upon customers’ requests Commission agency Dealership cars Domestic and international transportation Supplying genuine equipments and machines 1.4.2 Marketing and Communications VINACOMA desires to develop leading technology solutions for Marketing and Communication so as to provide customers with the best images and the best products to the customers Its products and services includes: - Making and developing the projects for communication channels, internet, information technology - Providing Internet marketing service solutions and digital media, online advertising and Web Services - Organizing and carrying out some media events to connect, encourage investment, PR and Brand Promotion - Investing in potential construction and technology projects 1.4.3 E-commerce VINACOMA’s orientation and long-term goal is developing comprehensive E-commerce technology services From the beginning, the company's board of directors has determined all intensive strategies for long-term projects The company’s main aim is to become the leading company in this field and integrate into the international market In the time of economic development along with integration and globalization, demands for foreign trade, commercial promotion, technology transfer is inevitable and these become vital factors To meet the growing demand of customers, VINACOMA has applied information technology and increased trading via online trading floors The company has launched ecommerce trading floors comprising www.mayxaydung.vn – domestic trading floor and www.machinfo.com – international trading floor Through E-commerce trading floors, VINACOMA can easily provide information about its services and products to clients Their mission is to minimize fee for customers, serve customers to the best, simplify payment methods and shorten distance 1.4.4 Showroom and Retail System Nowadays, customers become more and more careful in choosing the construction machinery Accordingly, the company intends to establish and carry out the system of showrooms and outlets for construction machines and equipment so as to enhance the customer experience Besides, VINACOMA intends to expand the nation-wide system with main products, namely mini construction machine and equipment, generator, bar cutter, hand tool, water pump, forklift, lifting equipment, spare parts and others In this area, VINACOMA provides services listed below: - Receiving retail orders directly from the customers - Receiving deposits and cooperating with other partners in the same field - Representing and distributing construction machines of some brands - Leasing service - Cooperation and joint venture CHAPTER 2- THE COMPANY’S PERFORMANCE 2.1 Business Performance During the 3-year period, VINACOMA's total revenue experienced an increasing trend which started from 92.47 billion VND to 112.76 billion VND - Between 2017 and 2018, the sales climbed by 10.75 billion VND which generated a revenue growth of 11.63% Between 2018 and 2019, the sales grew by 9.54 billion VND which generated a revenue growth of 9.24% Even though the sales rose in years, its growth rate experienced a downward trend 120 112.76 100 80 103.22 92.47 60 40 20 2017 2018 2019 Chart 2.1- Revenues of VINACOMA., JSC in Recent Years (Billion VND) Source: VINACOMA., JSC Sales Department 2.2 Achievements, Difficulties and Topic Orientation 2.2.1 Achievements VINACOMA has been through 15 years of establishment and development and gained a good reputation in the industry in both B2B and B2C VINACOMA., JSC is one of the leading companies in Vietnam in the distribution of construction machines It has cooperated and built strong relationships with international partners and provides machines for plenty of large projects not only in Vietnam but also in other countries as well 2.2.2 Difficulties That VINACOMA has lots of young employees who have just graduated can be considered a double-edged sword Although young telesales people create the dynamic working environment for the company, they not have enough selling experience and lack knowledge of construction machines Moreover, as the directors often set high requirements and apply salary deduction for those who not meet these requirements, the sales team is usually under enormous pressure Being stressed, some telesales people lose their enthusiasm in working as well as their patience in persuading the customers Realizing these problems in VINACOMA, the author decided to choose the topic “Improving Telesales People’s Competency at VINACOMA Joint Stock Company” REFERENCES Vinacoma n.d. Giới Thiệu (Onlined) Address: https://vinacoma.com.vn/vi/gioithieu/ (accessed on 18/10/2020) ... Human Resource JSC Joint Stock Company BOD Board of Directors CHAPTER 1- GENERAL INTRODUCTION 1.1 General Information - Name: Vietnam Construction Machinery Development Joint Stock Company (VINACOMA.,... into a Joint Stock Company with the brand name VINACOMA / VCM Group It directly imports construction machinery from developed countries such as Japan, German, Singapore as well as export machinery. .. and Import-Export Construction Machinery 1.4.1 Trading and Import-Export Construction Machinery VINACOMA gradually affirms its reputation in the field of importing and exporting construction machines