Firstly, contribute to systematizing the theoretical and practical basis of business activities and resreach the history of gpv viet nam technology company limted

VIETNAM NATIONAL UNIVERSITY OF AGRICULTURE FACULTY OF ACCOUTING AND BUSINESS MANAGEMENT INTERNSHIP REPORT Group of Student: Pham Thi Hien – 642290 – K64QTKDT Nguyen The Long – 645125 – K64QTKDT Vu Thu Ha – 641599 – K64QTKDT Lecture: Ph.D Tran Minh Hue HA NOI, 2021 VIETNAM NATIONAL UNIVERSITY OF AGRICULTURE FACULTY OF ACCOUTING AND BUSINESS MANAGEMENT INTERNSHIP REPORT Group of Student: Pham Thi Hien – 642290 – K64QTKDT Nguyen The Long – 645125 – K64QTKDT Vu Thu Ha – 641599 – K64QTKDT Lecture: Ph.D Tran Minh Hue HA NOI, 2021 ACKNOWLEDGEMENT Dear Teachers, this is the first internship, so it means a lot to us, 3rd year students who are still sitting in the university lecture hall Because in addition to cultivating specialized knowledge and skills, internships at enterprises and preparing necessary skills to complete the graduation thesis are also very important It is an opportunity for us to have access to the real working environment at companies and businesses, and to apply the theory taught in school to real work Especially thanks to that, we have gained the experience and skills as the basis for the final thesis internship After weeks of internship, receiving guidance and help from teachers and the company, our group of students including Pham Thi Hien, Nguyen The Long, Vu Thu Ha came from K64 Advanced Agribusiness Administration (K64QTKDT) successfully completed the first practical training session at GPV Vietnam CO., LTD with the topic of general understanding of the Company's business operations During the internship period, we had many opportunities and conditions to learn, research and collect comprehensively information from the history of formation and development, organizational structure, business fields to the market, processes, production activities and business results of the company Thereby helping us to better understand the company in all aspects and complete the Internship Report on the company We sincerely thank Instructor Ph.D Tran Minh Hue, Lecturer in Accounting and Business Administration Faculty, Vietnam National Academy of Agriculture, Mr Vu Tien Thinh and the Board of Directors of GPV VIETNAM CO., LTD The staff in the company enthusiastically guided and helped us during the internship period and wrote the report Due to many limitations in knowledge as well as practice time, the report cannot avoid errors, our team would like to receive comments and i guidance from teachers to report the internship program of our group is more complete We sincerely thank you! ii TABLE OF CONTENTS CHAPTER INTRODUCTION 1 Introduction 1.1 The rationale of the internship report 1.2 Report objectives 1.2.1 General objective 1.2.2 Specific objective 1.3 Scope of report 1.3.1 Scope of space 1.4 Report methodology 1.4.1 Data collection 1.4.2 Statistical method .3 1.4.3 Analytical method .3 1.4.4 Synthesis .3 CHAPTER 2: FINDING .4 Finding 2.1 2.2 Introduction of a company Operating characteristics and consumption market 2.3 Resources and Facilities 2.3.1 Organization stucture 2.3.2 The main product 2.3.3 Equipment 2.4 Business results of the company in years 10 2.5 Performance Analysis 13 CHAPTER 3: CONCLUSIONS AND RECOMMENDATIONS 15 Conclusions and Recommendations 15 3.1 Conclusions .15 3.2 Recommendations .15 iii LIST OF TABLES Table 2.1: Income Statement from 2019-2021 (Unit: VND) .10 iv CHAPTER INTRODUCTION 1.1 Introduction The rationale of the internship report To complete practical course 1st Help students with practical approach and apply the knowledge they have learned in practical production and business at production facilities Because the student who does an internship receives credit from the university, graded credit determined by the technical writing faculty, there needs to be documentation in addition to the site supervisor's evaluation as a basis for that graded credit Submitting an internship report not only provides the faculty with a document which qualifies the student for graded credit, it also provides the faculty with in-depth information about the profession they are responsible for preparing students to participate in Furthermore, and of considerable importance, the internship report increases the student's responsibility by requiring the student intern to gather information and plan the report throughout the work experience The student then has an opportunity to demonstrate maturity as a technical writer by presenting, analyzing, and evaluating his or her own work on the job Responding the demand of faculty accounting and business management also our requirement The concept of business analysis In the most general sense is the process of studying all phenomena and things directly and indirectly related to human production and business activities The analysis process is carried out from the step of actual investigation to abstract thinking from observing reality, collecting data information, processing and analyzing data information, finding the cause to the decision set out operational orientations and solutions to implement those orientations The main content of business analysis is the business results indicators such as sales revenue, production value, cost, profit,etc When analyzing, it is necessary to clearly understand the boundary between quantitative criteria and quality indicators, absolute, relative, average,etc Deeply research the factors affecting the performance of business results on those targets 1.2 Report objectives 1.2.1 General objective Clarify the current status of business activities in the company Observe the operation, thereby proposing some solutions related to business performance 1.2.2 Specific objective Firstly, contribute to systematizing the theoretical and practical basis of business activities and resreach the history of GPV VIET NAM TECHNOLOGY COMPANY LIMTED Secondly, understand the organization, human resource, understand the process of producing product, and their products and analyze financial status in years ago Finally, Proposing some solutions to improve the efficiency of the company's business operations 1.3 Scope of report 1.3.1 Scope of space Research at GPV VIET NAM TECHNOLOGY COMPANY LIMTED Address: Vat Cach Village, Dong Cuong Commune, Yen Lac District, Vinh Phuc Province, Vietnam 1.3.2 Scope of time From 22/11/2021 to 26/12/2021: go to practice GPV VIET NAM TECHNOLOGY COMPANY LIMTED and get information From 27/12/2021 to 03/02/2022: Write the report 1.4 Report methodology 1.4.1 Data collection Data collection is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes Secondary data: From available materials of GPV VIET NAM TECHNOLOGY COMPANY LIMTED Primary data: Using observe to survey 1.4.2 Statistical method Based on the report which GPV VIET NAM TECHNOLOGY COMPANY LIMTED give for us: Asset, liability, machines, material,etc Statistical methods are mathematical formulas, models, and techniques that are used in statistical analysis of raw research data The application of statistical methods extracts information from research data and provides different ways to assess the robustness of research outputs 1.4.3 Analytical method An analytical technique (analytical method) is a procedure or a method for the analysis of some problem, status or a fact Analytical techniques are usually time-limited and task-limited They are used once to solve a specific issue Using the financial statement to analyze based on the outside factors and inside factors; using excels software to compute; using diagram, table,etc 1.4.4 Synthesis Research synthesis is the overarching term we use to describe approaches to combining, aggregating, integrating, and synthesizing primary research findings Each synthesis methodology draws on different types of findings depending on the purpose and product of the chosen synthesis Synthesis the data in financial statement, in the table For example: table show the number of employees and equipment of GPV VIET NAM TECHNOLOGY COMPANY LIMTED CHAPTER 2: FINDING 2.1 Finding Introduction of a company General Information Name: GPV VIET NAM TECHNOLOGY COMPANY LIMTED Address: Vat Cach Village, Dong Cuong Commune, Yen Lac District, Vinh Phuc Province, Vietnam Director is Mr Vu Tien Thinh GPV VN CO.,LTD operates mainly in the field of food processing History and Development: Company was founded in September 29, 2019 GPV Vietnam Technology Co., Ltd, formerly known as VEGAN PARADISE COMPANY LIMITED (VEGETARIAN PARADISE COMPANY LIMITED) was established in 2012, co-founded by Mr Tuong Ngoc Tan and Mr Vu Tien Thinh, with address at Address: No 16, lane 18, Ta Thanh Oai, Ta Thanh Oai Commune, Thanh Tri District, Hanoi City The main business of the company is the production and supply of ready-to-eat foods In 2019, realizing the increasing market demand, the company expanded its operations and established GPV Vietnam Technology Co., Ltd under the management and administration of Mr Vu Tien Thinh The company operates in the field of food processing and technology transfer for pastry processing The company was initially headquartered in Vinh Phuc with a total area of 2000m2 (of which 600m2 was used as a factory) In 2020, the Company expanded its factory area to 8000m2, launched the high-class pastry brand Cindy, and opened a representative office in Hanoi Currently, the Company is investing in opening a high-class bakery factory in Phu Tho with a total area of up to 5000m2, increasing the capacity to tons of flour per day New investment in carton and plastic tray production lines, in order to proactively provide a part of packaging for products 2.2 Operating characteristics and consumption market Currently, the company is manufacturing and supplying cakes and instant cakes every day In addition, the company also transfers production technology to facilities and factories in the fields of pastry processing technology and imports equipment, technology and raw materials for food production The company's products are a favorite and always selling well at convenience stores in the Northside of Vietnam, most in Hanoi, Vinh Phuc and Phu Tho In which, Hanoi is the highest consumption area, accounting for 60% of the company's total product output The convenience stores that the company chooses to cooperate with are small and medium-sized, with evenly distributed items, so consumers can easily access the products The company is gradually moving towards distributing products in large chain of convenience stores such as Vinmart, Tomita, Dalatfarm to reach out to more demanding customers in the big urban area 2.3 Resources and Facilities 2.3.1 Organization stucture Currently, GPV Vietnam Technology Co., Ltd has about 30 employees including workers and board of directors All workers, when recruited into the factory, are thoroughly trained in food hygiene and safety and all of the employee working in the department must meet the company's recruitment requirements in terms of qualifications and experience CHIEF EXECUTIVE DIRECTOR (CEO) DEPUTY BUSINESS DIRECTOR BUSINESS DEPARTMENT ADMINITRATION DEPARTMENT DEPUTY TECHNICAL DIRECTOR ACCOUNTING DEPARTMENT TECHNICAL DEPARTMENT Chief Executive Direct (CEO) of the company is Mr Vu Tien Thinh He is also the founder of GPV His responsibilities are manages and directs the company toward its primary goals and objectives Oversees employment decisions at the executive level of the company Leads a team of executives to consider major decisions including acquisitions, mergers, joint ventures, or large-scale expansion Deputy Business Director is Mr Vu Tien Thinh has responsible for overseeing the development of an organization's business goals and objectives They typically work to increase business revenue, identify and develop business opportunities, and expand the company's presence and its brands Deputy Technical Director is Mr Vu The Vuong has responsible for recording the technical specifications of the products they use to maintain consistency throughout the production process He also makes purchases of tech systems, oversee their installation and train their staff to use the new technology during production Business Department include marketing, finance, operations management, human resource, and IT These five divisions represent the major departments within a publicly traded company, though there are often smaller departments within autonomous firms Adminitration Departmant is important to any company because it works across all departments and with all kinds of work The functions of the Admin Department include General Office Management; Asset Management; Transport Management and Security and Safety Management Accounting Department records accounts payable and receivable, inventory, payroll, fixed assets and all other financial elements The department's accountants review the records of each department to determine the company's financial position and any changes required to run the company cost-effectively Technical Department has fuctions that manage, implement and inspect technical work, ensure work progress, saftey, quality and economic efficiency in company; management of using, reparing, purchasing equipments, machines for business operations in company 2.3.2 The main product Salted shredded meat hamburger (Net weight: 55g, Price 8,000-10,000/piece) This is the company's first salty cake product It is a best-selling product, loved and trusted by consumers Buttermilk hamburger (Net weight: 55g, Price: 6,000-8,000/piece).Buttermilk hamburger providesdelicious, convenient and nutrition Grape coconut milk bread (Net weight: 250g, Price 25,00030,000/piece) This is a sold-out product as soon as it hits the shelves of GPV's highend cake line Chrysanthemum bread (Net weight: 250g, Price 25,000-30,000/piece) GPV's chrysanthemum bread product lines also possess extremely rich nutritional content, suitable to be used by all ages 2.3.3 Equipment Although GPV is a young company, they invests in very modern equipment and machinery to create high quality bakery products with beautiful shapes, saving time and expenses for customers, workers and most importantly, ensure food safety for products A full set of cake production lines with full equipment, high productivity, cost-effective support for breadmaking technology transfer include: Machine 1: Dough Mixer Machine 2: Cake Depositor Machine 3: Rotary Oven Machine 4: Cake Filling Machine Machine 5: Cooling Conveyor Machine 6: Sterilization Machine 7: Nitrogen Generator Set Machine 8: Cake Packing Machine Machine 9: Date Printer 2.4 Business results of the company in years Table 2.1: Income Statement from 2019-2021 (Unit: VND) Source: Business department Revenue In 2019, the company's revenue reached more than 25 billion VND, by 2020 it will reach more than 30 billion VND, an increase of about billion VND In 2021, the revenue suddenly increased by nearly one and a half times higher, about 46 billion VND, an increase of nearly 15 billion VND compared to 2020 It can be said that the company's revenue has a relatively fast growth It proves that the company has constantly made efforts to negotiate, seek to expand economic relationships in order to increase revenue, and also show that the quality of products of the enterprise is increasingly improved, created reputable in the market In 2019, the company's revenue was 25,623,489,000 VND This is the year that GPV Technology Co., Ltd has brought high-class bakery products to the market Thanks to this step forward, GPV's revenue in 2020 has increased by nearly 1.2 times Another reason why revenue is constantly growing is that the company is very diligent in researching and understanding customers' tastes to launch new products on special holidays Not only that, GPV's products are also constantly innovating in terms of design to meet the maximum needs of customers The period 2020-2021 is a difficult period because the COVID-19 epidemic creates many challenges for most industries and business fields, but for food industry enterprises, 10 especially leading ones then there are many opportunities Even, many food businesses have outstanding business results thanks to flexibility and taking advantage of available advantages Adapting to the epidemic, in the context of a complicated pandemic, many provinces and cities implement the distance, businesses face difficulties, but there are still food businesses that rise to dominate market share, large revenue growth and profit This business has a great advantage thanks to a closed ecosystem from production to distribution Thanks to that, even during the epidemic, the company was still flexibly adapting, seizing opportunities to gain market share, and achieved impressive business results In 2021, the company's revenue is 45,965,621,000 VND, an increase of more than 15 billion VND Explaining this, besides the reasons mentioned above, it must be mentioned that GPV officially started construction of the factory in Phu Tho Factory project in Phu Tho on an area of 5,000m2, including building a factory and investing in a coconut grape cake production line The investment in phase of a factory in Phu Tho is expected to increase Bibica's average annual revenue by more than 40 billion VND/year and the fact that revenue in 2021 has increased by more than 30 billion VND compared to the previous year 2020 Expense Through the above analysis, we can see that the company's total business expenses increased relatively quickly, in 2019 it was nearly billion VND, but in 2020 it is more than billion VND In 2021, the company's total business expenses are nearly 11 billion VND The fluctuation in selling expenses from 2019 to 2020 is VND 1,165,683,000 The fluctuation of selling expenses in 2020 - 2021 is VND 3,711,342,500 Specifically, fluctuations in selling and administrative expenses are as follows Selling expenses in the period of 2019 - 2021, the proportion of selling expenses in total revenue increased continuously In 2019, selling expenses were nearly billion VND, in 2020 it was 4.8 billion VND In 2021, selling expenses are more than 11 billion VND The fluctuation in selling expenses for 2019–2020 is VND 777,122,000 The fluctuation of selling expenses in 2020-2021 is VND 2,474,228,333 Although selling expenses increased, the expense ratio decreased Administration expenses in 2019 reached nearly billion VND The volatility of 2019 - 2020 is 388,561,000 VND The 2020-2021 volatility is 1,237,114,167 VND Similar to selling expenses, although administrative expenses have increased over the years However, although selling expenses, general and administrative expenses, and total operating expenses increased, the expense ratio still decreased That's because the company has applied the advancement of science and technology, using software to help plan enterprise resources The company has fully applied the features of the software suite, including: Accounting and Finance Management, Sales Management, Purchasing Management, Warehouse Management, Production Management This helps GPV manage business activities more scientifically Therefore, although selling and administrative expenses still increased, but the company managed well, so the expense ratio over the years still decreased Profit In 2019, GPV's total pre-tax profit reached nearly VND 18 billion In 2020, this number has reached over 21 billion VND and increased by more than billion VND compared to 2019 From 2020 to 2021, the total profit before tax of enterprises has increased faster than the period of 2019-2020, reaching a high level nearly 33 billion VND In general, the profit structure of the enterprise does not have many significant changes In the period of 2019 - 2020, profit from production and business activities increased by more than billion VND Besides, other profit increased by more than 300 million dong However, because it accounts for a small proportion of the total profit, this figure, although large, does not affect the growth of the total profit From 2020 to 2021, the profit from production and business activities increased 12 sharply, more than 10 billion VND At the same time, other profits increased by more than billion dong High-class cakes or steamed cakes are consumed strongly in the midst of the pandemic With high profit margins, modern sales channels will create new growth drivers The COVID-19 pandemic has changed consumption trends, creating opportunities for modern distribution channels to develop rapidly as people choose to shop online at home and supermarkets with quality products and origin 2.5 Performance Analysis Strength In general, the company's revenue increased rapidly from VND 25.6 billion to nearly VND 46 billion mainly because the company expanded the market and improved product quality GPV is a brand on the rise in the Vietnamese confectionery market today The company focuses on improving product quality and building a brand name in the market Part of that is because the company has constantly researched and understood the tastes of customers to launch new products on special holidays and care about the needs of all customers of all ages GPV is a company with quite good asset utilization efficiency, especially current asset utilization efficiency The number of days of a working capital turnover is relatively fast compared to other companies in the same industry, Bibica's solvency is relatively good, it can avoid the pressure of debt repayment as well as the ability to raise capital easily The company currently has 35 distributors, of which 12 distributors of the Company's products have been consumed in Hanoi city, distributors in Vinh Phuc province factory, distributors in Phu Tho province and the remaining distributors in other provinces Weakness The increase in the cost of input materials of the product due to the Covid epidemic affects the company's revenue and is also a difficult problem 13 for the company to increase or keep the product price unchanged Currently, students and workers are mainly working remotely due to the Covid epidemic, so the purchasing power of the company's products is less than before Over the past three years, the company's total expenses increased quite rapidly in 2019 from nearly billion VND to 11 billion VND in 2021 Because the company spent too much on selling expenses Although revenue increased, the company's profit did not increase as expected, which is reflected in the company's low profit-to-revenue ratio Therefore, to meet the needs of development, the company needs to take measures to improve profits in the future Opportunities Bread and instant products are essential necessities, so the demand for the company's products is increasing, especially during the Covid-19 pandemic The company is currently expanding its production plant in Vinh Phuc and opening a new factory in Phu Tho will increase the company's production capacity, fully meeting the needs of the market in Hanoi and the northern provinces At the same time, this is also a good opportunity to expand the market of the product to the central provinces and especially the southern market The Covid-19 epidemic also created opportunities for the Company to promote its brand and increase revenue from isolation areas and hospitals Thearts Currently, many companies and units are also entering the market of instant cake production, so there will be many competitors, requiring the company to improve and diversify products and innovate to meet the needs of customers increasing consumer demand Imported bakery products are also increasing due to Vietnam's accession to AFTA, the import tax rate of confectionery products will be reduced, so the selling price of these products can be more competitive, which consumers Vietnam is also very fond of imported goods, which will be a challenge for the company's products 14 PTER 3: CONCLUSIONS AND RECOMMENDATIONS Conclusions and Recommendations 3.1 Conclusions Despite facing pressure from partners and difficulties of the economy, GPV has continuously expanded its investment for years now From the construction of a steam cake production line at the factory in Vinh Phuc to the construction of a new factory in Phu Tho All In 2021, GPV invests in new production lines It is expected that in 2022, these two lines will bring the Company an additional VND 40 billion and the Company's market share will increase to 5% If 100% capacity is fully exploited, GPV's market share will increase to 10% market share The Company's vision to 2025 will be to become a leader in the confectionery industry in Vietnam are aimed at making GPV the leading confectionery brand in the market To get there, we had to scale up, increase our selling point, and increase our reach And before that, new factories were invested and built When the factory in Phu Tho comes into operation, GPV's output can double provide quality products at reasonable prices Upgrading the value chain through collaborative participation, responsibility of the owner and proper training Develop an effective distribution network Expand the activities of affiliated units through partners above Global 3.2 Recommendations Increase revenue Abou the product quality, enhance the role of the quality system management function and inspect and monitor the processes at the company's quality management department to ensure the quality of the product Establish a self-inspection, supervision mechanism in all departments, to ensure that each department and workshop must have sufficient data and records to be statistically analyzed for operational management and improvement 15 continuous progress Make the most of the available resources into the main activities of the company, avoiding waste or improper use Promote marketing and sales, the company should have a strategy to develop a suitable sales system In the immediate future, it is necessary to focus on expanding the market share of old customers through measures to stabilize prices, diversify products in the market and strengthen customer care Gradually develop and expand market share for potential and new customers Establishing a team specializing in competitor research to advise the leadership, the business department to change - improve management - technology in a timely manner to maintain competitive advantage Enterprises should have a reasonable view and assessment of the risk of debt collection occurring to reduce receivables Striving to complete the facilities, sell good quality products to increase prestige and enhance competitiveness Reduce the cost It is necessary to diversify suppliers to have competition in price and quality of input materials Continue to review and improve the cost control system in each department and workshop with the goal of maximizing existing resources and minimizing costs Having a policy to manage and control expenses that are reasonable with the revenue and profit derived from that increase in costs Like expenses, typically marketing costs and sales department salaries increase too quickly, this can increase revenue but also reduce profits Therefore, the company needs to make the most of the resources to avoid the case where the costs are too much compared to the profits achieved The company needs to control the growth of financial costs, by reducing inventory and investments to reduce bank loans, reduce interest expenses, calculate capital needs each period to have plan to use loan capital effectively in the period of high inflation economy Control and use the unused portion of fixed assets to save maximum costs Manage inventory rationally and effectively, minimizing storage costs There is a department 16 that regularly reviews and strictly manages the transportation process as well as the preservation of goods to minimize possible damage and loss There is a reasonable mechanism of punishment as well as reward to encourage individuals and departments to well implement the cost control plan at their units The company should have a policy to urge as well as quickly complete the factory project in Phu Tho and put it into stable operation in order to minimize fixed costs (such as land rent) Manage Accounts Receivable The company should limit the amount of outstanding capital in payment To that, the company must implement a number of solutions as follows: Apply policies to encourage customers to pay quickly: payment discount It is necessary to evaluate and classify customers based on the history of trading relationships between the company and customers, or evaluate the business and financial activities of the customer If good customers sell in large volume, average customers sell in limited volume, weak customers should not sell on credit Strictly control debt monitoring and debt collection Evaluate and make reasonable provision for receivables for bad debts Legally handle the case of overdue debt intentionally entangled, appropriating capital of the company Manage Accounts Payable The company should adjust short-term assets reasonably so that it can both ensure the payment of debts and use capital more efficiently, and at the same time, avoid long-standing inventory stagnation to reduce quality and reputation with customers while at the same time ensuring solvency in the short term If the economy is stable, the company should consider taking advantage of financial leverage by increasing the debt ratio to a safe level of debt in order to make the most of debt instead of self-financing equity and tax savings from the use of debt, increasing net income In the context of the current high inflation economy, the company should consider reducing the 17 debt ratio below the debt safety level Defining the functions and duties of specific departments Create conditions for management staff to learn and improve their professional qualifications In order to promote the ability and complete the assigned tasks effectively, the company needs to encourage and timely reward individuals and groups with outstanding achievements in management as well as in production 18