Benefits & Downsides of Collaborative and Mindful Leadership to the Leader herself...122.1.1.. Trang 4 MEMBER ASSIGNMENTNo.Full NameStudent IDCompletionPercentage1 Trần Thị Bích NgọcLead
VIETNAM GENERAL CONFEDERATION OF LABOUR TON DUC THANG UNIVERSITY BUSINESS ADMINISTRATION FINAL REPORT CHANGE MANAGEMENT Topic: CEO MAI KIEU LIEN A BUSINESS LEADER IN THE PUBLIC EYE Lecturer: PHAM VAN PHAT Ho Chi Minh City, March 2023 Table of Contents MEMBER ASSIGNMENT LECTURER’S COMMENT CHAPTER I: COMPANY OVERVIEW 1.1 About company 1.2 Leader and organizational structure 1.4 Business situation and results with clear targets for the next months .10 CHAPTER 2: ANALYSIS 12 2.1 Benefits & Downsides of Collaborative and Mindful Leadership to the Leader herself 12 2.1.1 Benefits of Collaborative and Mindful Leadership to the leader 12 2.1.2 Downsides of collaborative and mindful leadership to the leader 13 2.2 Benefits & Downsides of Collaborative and Mindful Leadership to the employees 13 2.2.1 Benefits of collaborative and mindful leadership to the employees .13 2.2.2 Downsides of collaborative and mindful leadership to the employees 14 2.3 Benefits & Downsides of Collaborative and Mindful Leadership to the customers 15 2.3.1 Benefits of collaborative and mindful leadership to the customers .15 2.3.2 Downsides of collaborative and mindful leadership to the customers 15 CHAPTER 3: CONCLUSION AND RECOMMENDATIONS 16 3.1 Conclusion 16 3.2 Recommendations 17 THANK YOU! We would like to express our sincere thanks to Ton Duc Thang University for bringing the subject Change Management into the curriculum In particular, the group would like to express our deep gratitude to the subject lecturer Pham Van Phat for teaching and imparting valuable knowledge to us during the past study period In particular, besides teaching professional knowledge, he also imparted valuable practical knowledge, creating the best conditions for us to complete the report as well as complete the best course Although there have been many efforts in the implementation process, due to limited ability and experience, the report inevitably has shortcomings Therefore, our team is looking forward to receiving sincere suggestions from teachers and lecturers to supplement and perfect in the next research process Finally, we would like to express our deep gratitude to Mr Phat with the school for creating conditions for us to have a professional learning environment, we promise to try our best to study well and always improve our morals own virtue Wish you always have good health and success in your work Sincerely thank! MEMBER ASSIGNMENT N Full Name Student ID Completion Percentage Trần Thị Bích Ngọc C1800055 100% o (Leader) Nguyễn Thị Huyền 718H1410 100% Trần Thị Thu Hà 718H1386 100% Trần Thị Kiều Giang 718H1383 100% Đinh Hoàng Thảo Vy 718H1573 100% Trần Lê Thùy Duyên 718H1378 100% Đặng Hoài Phương 717H0403 100% Nguyễn Tuấn Anh 717H0689 100% LECTURER’S COMMENT CHAPTER I: COMPANY OVERVIEW 1.1 About company Vietnam Dairy Products Joint Stock Company – Vinamilk is a manufacturing and trading company in the dairy and dairy products processing industry in Vietnam Established: August 20, 1976 Slogan: Vuon cao Viet Nam Mai Kien Lien is the general director Vinamilk has achieved a lot of success and become the enterprise holding 75% market share in the dairy processing industry in Vietnam With more than 183 distributors and more than 94,000 sales points covering all provinces and cities across the country Vinamilk also reaches out to the world by exporting its dairy products to countries such as the US, France, Poland, Germany, etc Southeast Asian countries, the Middle East Impressive numbers According to the annual report of the "Food and Beverage" industry of Brand Finance 2022, the Vinamilk brand has been valued at 2.8 billion USD, an impressive increase of 18% compared to 2021 and promoted in many major rankings in the field of food and beverage In particular, Vinamilk has surpassed other big brands to take the leading position in the Top most potential dairy brands in the world, Vinamilk is also the only brand from the Eastern region South Asia on these lists In the dairy industry, Vinamilk has also made strides on the most important rankings Specifically, this $2.8 billion brand has moved up to 6th place in the Top 10 most valuable milk brands globally and continues to appear in the Top strongest global dairy brands with 2nd position It is noteworthy that Vinamilk is the only representative from Southeast Asia, and is only behind the brand from the world's second largest market, India, in terms of brand strength Vinamilk is also present in major food rankings in general such as Top 30 most valuable food brands (24th place), Top 10 strongest food brands (8th place) This result is especially meaningful when 2021 is a year that sees a series of pandemic challenges impacting every business This also shows the solid foundation of the brand that this business has been building, not only helping Vinamilk to Document continues below Discover more from: Marketing Channels 704113 Đại học Tôn Đức… 48 documents Go to course Heineken - Tình hình 38 cạnh tranh và… Marketing Channels 100% (3) Chương Môi 89 trường Marketing Marketing Channels 100% (3) Nike Marketing Mix 762 (4Ps) Marketing Channels 100% (2) Essentials of Marketing Marketing Channels None Final Report - Kênh 48 phân phối Marketing overcome the fluctuations of the market, but also increasing Channels in value and strength None thanks to the right and sustainable strategy is consistently pursued Copy of tổng hợp 58 Studocu Marketing Channels 1.2 Leader and organizational structure Vinamilk's growth and success during the past 45 years is the result of the efforts and enthusiasm of all members of the company, under the guidance and wise leadership of key personnel - the talented people, bravery and always doing their best for the common cause of Vinamilk Mrs Mai Kieu Lien - Member of management Council Chairman of the Strategy Committee, Member of Human Resources Committee General manager She was born in 1953 She was the Chairman of the Board of Directors from November 2003 to 2015 and then continues to be a member of the Board of Directors until now She has been the General Director of Vinamilk since December 1992 She has more than 27 years of experience in the role of General Director (from 1992 to present), leading Vinamilk through many periods During that process, she was honored to receive many national and international awards such as the First Class Labor Medal awarded by the State (2006); times voted by Forbes as one of the 50 most powerful businesswomen in Asia (2012 - 2015), Organizational structure: The organizational chart of Vinamilk is professionally presented and the distribution of the department is scientific andrational, decentralizing the responsibilities of each member and department The organizational chart helps the business operate in the most efficient way, helping the departments work together to create a strong Vinamilk None 1.3 Human resource of Vinamilk Viet Nam The total labor of Vinamilk in 2015 is 5,738 people with diverse professions, age, professional level Vinamilk always hold the views of respecting and treating equally to employees, not discrimination on gender, region, religion Every person, whether in the field or the level would have been facilitated to express their values and are part of the general success of the organization Rate the level of management/total labor: 7,1% Rate by gender: - Gender Amount Rate Male 4.267 74,5% Female 1.462 25,5% Total 5.738 100% Rate by age: Age Amount Rate Under 30 1.727 31,1% From 30- 40 2.428 42.31% From 40-50 1.241 21,63% Over 50 342 5.96% Total 5.738 100% - Education level: Education level Amount Rate By profession 2.462 42,91% College 487 8,49% The University 2.694 46,95% Above the University 95 1,66% Total 5.738 100% Through the data table above, we see the number of male workers account for more than 70% of the total labor of Vinamilk Moreover the number of workers under 40 years of age accounted for more than 50% This allows us to see the human resources of Vinamilk is a strong human resources, are in the best age for the dedication and work This is pretty high quality resources, more than 50% of the total number of workers have from college A majority of the workforce by the University account for 46.95%, this is an advantage of the human resources of the company Vinamilk has the experienced and enthusiastic commitment management team to the company Chairman Mai Kieu Lien has 30 years of experience in the dairy sector and key role in the development process of our company until today Other members have an average of 25 years of experience and ambition The industry’s main product survey at Vinamilk shows that the average annual product value of Vinamilk employee is about 173 million dong, equivalent to the labor of one software engineer Vinamilk has a team of engineers who have been trained aboard and both promote and apply effectively the knowledge they have learned in school Human resources is one of the important sources always Vinamilk focus and development Reasonable personnel policies, engaging in the areas of recruitment, training and development, compensation and welfare Human resources development, implementation, maintenance and continuous improvement In 2015, Vinamilk continues to pursue the goal of talent pool by continuing to implement the legacy human resource planning program (SP) and the program administrator trainee Vinamilk is honored to receive the best 100 jobs in Viet Nam with the second position in the overall and the most attractive employer brand in term of salary, bonus and welfare; Quality of work and life in 2014 1.4 Business situation and results with clear targets for the next months 2022 is a turbulent year after the impact of the Covid pandemic and the world's inflation situation, causing the consumption of consumer goods and dairy products in particular to decrease while freight rates are still anchored at a high level affecting orders of Vietnamese enterprises in 2022 In such a difficult context, Vinamilk is constantly looking for new opportunities, developing markets, and participating in parallel trade promotion activities maintain and improve relationships with customers, grasp new consumer trends to develop the market in both breadth and depth With the criterion of constantly searching for new opportunities, Vinamilk has achieved positive results in early 2023 (also the target in the first months of 2023) as dozens of contracts with a value of up to 100 million USD have been awarded signed in the Middle East (The total value of successfully signed export contracts to markets has reached 100 million USD, these contracts are expected to be implemented in the first months year) This is especially significant in the context of general export difficulties, not to mention that Vietnam's dairy products are not products with too many natural advantages 10 In addition, Vinamilk deployed to find new growth drivers with potential products through the beef project in cooperation with Sojitz Corporation (Japan) The project is implemented in Vinh Phuc province with a total investment capital of approximately 500 million USD in stages Phase is expected to come into operation in 2023 with a capacity of about 30,000 beef cattle/year 11 CHAPTER 2: ANALYSIS 2.1 Benefits & Downsides of Collaborative and Mindful Leadership to the Leader herself 2.1.1 Benefits of Collaborative and Mindful Leadership to the leader Collaborative and mindful leadership can offer numerous benefits to the leader, including: Improved communication Collaborative leadership fosters an environment of open communication where ideas, suggestions, and feedback are encouraged This helps the leader to be more approachable and receptive to the needs and concerns of their team Engage employees to contribute to the company's development, improve performance The mindful leader's approach to individual and group interactions fosters feelings of psychological security and loyalty They will give their best because they feel cared for, appreciated, and recognized for their unique strengths and endeavors They know that the leader truly cares about them, which motivates them to constantly devote themselves to their work Enhanced creativity The key success secret of Vinamilk, according to Ms Lien, is creativity and she emphasized that "Creativity is a vital factor" And she believes that “knowing how to spark everyone's creativity, all obstacles will be overcome.” A mindful leader can create a safe space for team members to brainstorm and experiment with new ideas new ideas, leading to better problem solving and decision making 12 2.1.2 Downsides of collaborative and mindful leadership to the leader While collaborative and mindful leadership can offer numerous benefits, there are also potential downsides to consider: Decision-making can be slower When multiple stakeholders are involved in decision-making, the process can be slower and more cumbersome This can be frustrating for leaders who are used to making quick decisions and moving forward with their plans Risk of conflict Collaborative leadership involves bringing together different personalities and perspectives, which can sometimes lead to conflict or disagreements Leaders must be skilled in conflict resolution to manage these situations effectively Overreliance on consensus Collaborative leadership can sometimes lead to a focus on achieving consensus, rather than making the best decision for the organization This can result in suboptimal outcomes if groupthink or compromise leads to decisions that are not in the best interest of the organization 2.2 Benefits & Downsides of Collaborative and Mindful Leadership to the employees Collaborative and mindful leadership can have both benefits and downsides for employees Here are some of the key advantages and disadvantages: 2.2.1 Benefits of collaborative and mindful leadership to the employees Increased engagement 13 Mai Kieu Lien's leadership style empowers employees by giving them a voice in decision-making processes, allowing them to contribute their ideas and insights to achieve the company's goals This can lead to increased engagement and motivation among employees Better teamwork Mai Kieu Lien has prioritized teamwork and collaboration within Vinamilk, creating a culture that values cooperation and shared goals This can foster a sense of community among employees, which can lead to greater engagement and loyalty Promoting professional development Under Mai Kieu Lien's leadership, Mai Kieu Lien has invested in employee development programs, providing opportunities for employees to learn new skills and advance their careers within the company This can increase employee engagement by demonstrating a commitment to their growth and development Prioritizing worklife balance Mindful leadership emphasizes the importance of work-life balance, which can reduce stress and promote mental health among employees Mai Kieu Lien has created policies that support work-life balance, such as flexible scheduling and wellness programs, which can increase engagement by improving employee well-being 2.2.2 Downsides of collaborative and mindful leadership to the employees While collaborative and mindful leadership can have several benefits for employees under the leadership of Mai Kieu Lien, there can also be some downsides Conflict resolution can be challenging, leaders have to approach conflicts in a calm and thoughtful manner While this can be effective in many situations, it can also make it challenging to resolve conflicts quickly or assertively ● May not be effective for everyone: Mindfulness practices may not be effective or appealing to all employees, and some may not have the time or resources to engage in them ● May not be taken seriously: In some organizations or cultures, mindfulness may be viewed as a "soft" skill and not given the same level of respect or attention as other leadership approaches ● Requires considerable training time and effort: Developing mindfulness skills can take time and training, which may be difficult to implement across an entire organization Overall, while the benefits of collaborative and mindful leadership under Mai Kieu Lien's leadership are significant, it is essential to recognize that there can also be potential downsides By being mindful of these downsides, leaders can work to mitigate them and create a positive work environment that supports employees' wellbeing and success 14 2.3 Benefits & Downsides of Collaborative and Mindful Leadership to the customers For Vinamilk's customers, collaborative and mindful leadership brings many benefits, but there are also some drawbacks as follows: 2.3.1 Benefits of collaborative and mindful leadership to the customers Customers satisfy their needs with a variety of products With a comprehensive approach to customers' needs along with the organization's constant creativity and improvement, Vinamilk constantly researches and creates milk and dairy products with new flavors to meet customers' needs Vinamilk products such as fresh milk, yogurt, and fruit milk are dairy products in Vietnam produced with 100% natural ingredients With 100% organic, Vinamilk's dairy products retain the full delicious and greasy taste of Vinamilk fresh milk, making consumers satisfied Bringing a better experience to Vinamilk's target customers For consumers to get information or find solutions to issues as quickly as possible, departments will cooperate and agree with one another in the most efficient way possible under the direction of collaboration This demonstrates how much Vinamilk appreciates its customers' time and does not interfere with or negatively impact their experience No company enjoys hearing negative feedback about their goods, but if consumers have contacted you about their issue, it indicates that they are really dissatisfied Or perhaps it's worse than that Even if it may not be the greatest course of action for businesses, responding to customers' issues right away gives them the impression that Vinamilk has paid attention and genuinely comprehends their issues And this will provide visitors to Vinamilk a positive first impression Workers who are not under pressure or fatigue prefer to give customers their all and serve them with great attention Vinamilk helps employees be less stressed, which increases their productivity and attention and benefits consumers as well The passionate Vinamilk personnel will provide the greatest customer service Because some personnel are heart-centeredly taught, always understanding, devoted to serving clients, and never display negative or nervous feelings that would make them uneasy Customers can use the best quality products As a conscientious leader, Ms Mai Kim Lien orients Vinamilk to follow the motto "brand attached to the community", products that always aim to protect public health with quality and unique products most unique The ingredients are carefully selected for quality and safety combined with modern technology, strict quality control process to bring nutritional and safe products to consumers 2.3.2 Downsides of collaborative and mindful leadership to the customers Face-to-face working relationships are less due to modern cooperation 15 Collaboration in the modern day may occur practically everywhere Workers could work on the same file from two very distant places rather than collaborating on a project More than the development of a real connection, information sharing defines contemporary collaboration Consumers may sense a separation amongst staff members due to the inconsistent customer service This is quite unprofessional and can make customers unhappy with Vinamilk's products and services Collaborative leadership styles can be costly With this leadership approach, we're effectively having two individuals work on one project instead of just one person, which involves creating mentoring positions Moreover, it raises the cost of labor for accomplishing a job Vinamilk's business is significantly impacted by these costs, particularly the budget for creating higher-quality products at competitive rates for customers Less creativity Although it has been discovered that mindfulness can be beneficial for issues requiring analytical thinking (since it clears the mind), higher levels of mindfulness have been linked to lower levels of creativity Consumers may become disinterested with Vinamilk's unoriginal products or business viewpoints This might result in fewer clients, which would mean lower revenue for the business CHAPTER 3: CONCLUSION AND RECOMMENDATIONS 3.1 Conclusion It can be said that when customers in Vietnam think of the dairy sector, Vinamilk milk is the first thing that comes to mind In this extremely competitive economy, the role of an entrepreneur is the core factor that determines the success or failure of that business Thanks to Mai Kieu Lien's Adaptive and Collaborative Leadership, she has brought Vinamilk to the top position over time as it is today For Mai Kieu Lien herself: - Establish precise short- and long-term objectives for herself and accomplish them - Always keep a positive attitude at work: Assertive - Democratic - Compliant For employees: - Respect your employees and encourage them to express their individual opinions, themself, and be creative in order to improve woke efficiency - Especially creating a working environment, fair and transparent - Employees who work well are rewarded and encouraged For products and partner: - Focus on product quality - Create meaningful campaigns for the community, build a good image for Vinamilk 16 3.2 Recommendations - Understand the staff to optimize opportunities and limit risks in business operations - It is necessary to be decisive in actions and decisions - Motivate and inspire employees to work, always build a strong and united team - A good leader must have the mind and vision, have the foresight to forecast the situation to make timely and timely decisions 17