Group assignment vietjet air corporation

Vietjet AIR Managerial Analysis - Alpha Memes [ Group Assignment] Introduce Management (MGT103) Hồ Chí Minh, ngày 22 tháng 03 năm 2021 Group Assignment FPT University Course: MGT103 Vietjet Air Corporation Member information Student Code Full Name SS160071 Trương Nguyễn Nhật Vĩnh SS160063 Nguyễn Gia Bảo SS160106 Trần Trân SS160046 Trần Chính Phát SS160645 Nguyễn Trịnh Minh Khôi 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation I Introduction about the history of the organization/corporation and aspects related to their managerial functions - Vietjet Aviation Joint Stock Company is the first private airline in Vietnam Not only air transportation, Vietjet also provides goods and services consumption needs through e-commerce technology applications Vietjet is an official member of the International Air Transport Association (IATA) with the Operational Safety Certificate (IOSA) - Vietjet is ranked among the highest in the world with stars by AirlineRatings.com, a prestigious organization specializing in assessing the safety and products of global airlines Meanwhile, AirlineRating also awarded Vietjet with the award "Best Low-Cost Airline 2018 2019" According to Airfinance Journal, Vietjet is in the top 50 global airlines in terms of operation and financial health in 2018 - Vietjet Air is one of the main three airlines of Vietnam, operating with the slogan: “Save More, Fly More.” Customers can totally trust because this famous airline is in the top 20 of leading brands in 2015 and gets the most precious prize awarded by the Government Vietjet Air has extensive global network flight for domestic and international tourists History: - VietJet Air was established from main shareholders, T&C Group, Sovico Holdings and HDBank with an initial charter capital of VND 600 billion (equivalent to USD 37.5 million at the time of capital contribution) The airline was approved by the Minister of Finance of Vietnam in November 2007 and became the fourth airline in Vietnam, behind only Vietnam Airlines, Jetstar Pacific, and Air Service Flight Company (VASCO) and is the first private airline in Vietnam - According to the original plan, VietJet Air planned to officially go into operation at the end of 2008, but due to fluctuations causing the price of gasoline and oil to soar, VietJetAir decided to postpone it until November 2009 At the end of April 2009, Sovico Holdings acquired all of the shares of T&C Group and became the largest shareholder, owning 70% of VietJetAir's shares - In February 2010, Air Asia acquired a 30% stake in VietJetAir Air Asia is another low-cost airline based in Kuala Lumpur, Malaysia, specializes in providing domestic and international flights and is Asia's leading low-cost airline - In May 2011, Mr Tran Minh Trung, nephew of Mrs Nguyen Thi Phuong Thao, acquired 90% of VietJetAir's shares and transferred control to Mrs Thao Therefore, Mrs Thao continued to hold her position CEO VietJetAir until now Mr Tran Minh Trung is a famous young businessman in the South, Head of Communication and Events Department of Topica Group in the South 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation II The Organization’s Environment A GENERAL: Economic Dimension: Vietnam is the country with the fastest urbanization rate in Southeast Asia (about 3.4% / year) As of 2015, the number of urban areas increased from 420 (1995) to 775 areas and the total urban area also doubled from 836,117 to 1,642,420 The transportation between urban and rural areas creates demand for air travel between provinces in Vietnam Data from CAPA shows that the domestic passenger air transport market in Vietnam has increased from 12 million passengers in 2012 to 28 million passengers in 2016, equivalent to a compound growth rate (CAGR) of 23.6 %/year Vietnam is considered a country with a lower level of economic development compared to other economies in the region Therefore, Vietnam is expected to have better growth potential Vietnam's economy in recent years has made great progress The Vietnamese economy is changing its appearance, infrastructure has been upgraded, investment has increased With the speed of economic development, the demand of people has also increased, including the need for travel High-income earners have an increasing demand for air travel The Policy and Legal dimension: The ASEAN Open Skies (ASEAN Open Skies), which aims to work towards ASEAN aviation market, has been approved since 2016 The agreement is an important element for the region's aviation industry Eliminating the majority of barriers on the number of routes and flight frequencies between international airports in ASEAN countries Specifically, the " removes the 3rd, 4th, and 5th commercial rights restrictions for airlines designated by the signatory and ASEAN member states 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation IATA and Bloomberg believe that competition in Vietnam's aviation industry will increase, but at the same time airlines will also benefit from the increased number of passengers due to more flexible flights between regions In particular, the low-cost airlines in the region will benefit the most from this agreement thanks to the short flight distance (within 3-4 hours) and increased pressure on traditional airlines B TASK: Competitors: The Civil Aviation Authority of Vietnam was born in 1956 However, it has just developed for about 10 years Up to now, Vietnam's aviation market has the participation of nearly 70 foreign airlines from 25 countries and territories, domestic airlines: Vietnam Airlines, Vietjet, Jetstar, Bamboo and Vasco Data from the Civil Aviation Administration of Vietnam shows that the number of aircraft has increased from 60 in 2008 to 221 in 2019 Domestic market share, Vietjet accounts for the largest market share with 41.7%, followed by Vietnam Airlines with 36.3%, Jetstar with 13.7%, Bamboo with 6.5%, and Vasco with 1.8% Suppliers: Selection of the most modern aircraft Boeing 737 MAX 200, Airbus A321, Airbus A320, and A320 neo are Vietjet Airs' advantage over competitors in its ability to fly long distances, save energy, safety, and the new fleet of aircraft is always attractive for a better experience for customers' options 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation Training is an important policy to help improve the quality of human resources, and is one of Vietjet's priority policies for employees, meeting the development needs of the Company and the career orientation of employees In 2019, Vietjet trained more than 93,000 hours for pilots, 344,000 hours for flight attendants, 125,000 hours for technical staff and more than 100,000 hours for Vietjet staff Vietjet continues to expand and upgrade the form of online training, which is considered effective, saving time and costs with 544 courses, training 19,936 trainees, reaching the rate of 59% In addition, on the occasion of signing a contract to order 20 new A321neo ACF aircraft on October 31st, Vietjet signed to invest in more simulated cockpit training for pilots, engineers , for the line aircraft A320 / A321, bringing the total to simulated cockpits invested by Airbus for Vietjet's Academy and helping the airline increase on-site training productivity as well as training for third parties in the near future support from Airbus, Vietjet provides the most advanced training solutions to ensure safety, reliability and operational efficiency throughout the life cycle of aircraft lines Airbus will also support Vietjet through many comprehensive and detailed training programs for pilots, apprentices, flight attendants, operating engineers, and aircraft maintenance and repair specialists Training is an important policy to improve the quality of human resources and is one of Vietjet's priority policies for employees, meeting the development needs of the Company and its employees, specifically: · Ensuring stable employment for employees; · Career orientation & promotion opportunities expansion future careers of employees at the Company; · Give employees peace of mind, trust, and long-term commitment with work; · Motivating employees to improve productivity, job and labor quality The goal of the training is to ensure that human resources with professional qualifications and skills meet the requirements of the aviation industry and are associated with the Vietjet Development Strategy to ensure stable jobs for employees , improving the stability and quality of the workforce according to the standards of their current titles In 2019, Vietjet organized 1,327 Initial, Periodic, and Level Up training courses for 47,109 times of Vietjet internal trainees, students of member companies, Vietjet's ground service companies, In which, organizing initial basic training courses and providing resources for Vietjet's Operations Division are as follows: · 19 Experienced Pilot Courses with 236 trainees; · new pilot courses (cadet) with 151 students / courses elevating the ranks to 62 captains, · 44 new flight attendant courses with 892 students / 11 courses for 187 the flight attendant · staff of aircraft maintenance engineering with 87 student · ground staff courses with 71 trainees · staff courses for flight dispatching with 46 trainees · Organized 23 courses "Culture integration of Vietjet" for 1,435 students and 51 courses "Enter aviation industry" for 1,018 new employees of the Company 12 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation · ICAO English proficiency assessment organization for 149 crew members Completed drafting and editing 102/122 spears professional training process Vietjet also continued to expand its online training form, which is considered to be effective, time-saving, and cost-effective with 544 courses, training 19,936 students, reaching the rate of 59% The training and development of teachers is interesting by Vietjet, currently there are 125 full-time and part-time teachers with full training capacity to meet the labor needs of the aviation operation fields In addition to Vietjet maintaining the approval of qualified organizations to train and train for the Air Force and Ground Service Division, and the training equipment, in November 2019, Vietjet continued to coordinate with Airbus has been successfully approved by the Level Pilot Class Training Organization issued by the Civil Aviation Authority of Vietnam (CAAV) and the European Aviation Safety Agency (EASA), which guarantees pilot training stable and save cost as well as time V Operations, Quality, and Productivity Management, System, and Control: VIETJET AIR’S SMART STRATEGY The airline model that Vietjet created is a hybrid between low cost and traditional, called "new generation aviation" Vietjet manages to optimize operating cost management, including costs of aircraft, ground services, engineering, and costs of manpower, technology application to reduce human costs But unlike the low-cost model, Vietjet has its own services, such as the skyboss service with a lounge, shuttle bus, and more options for premium services on the flight to target a wider audience including customers with high payment ability Vietjet is operating a smart strategy in Finance Its financial model is a copy of that of some fast-growing airlines like AirAsia, Indigo and Lion Air: buy aircrafts in large quantities, negotiate to reach better technical support and prices than other competitors, then create a aircrafts rental to finance and leaseback companies from these companies This is an effective financial model, ensuring the airline has a new and synchronized fleet of aircraft without having to bear the burden of debt 13 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation Many people believe that Vietjet is facing both challenges in the domestic and international markets, especially in the context of the slow development of aviation infrastructure and the possibility of overload, however Ms Thao - CEO of Vietjet - considers this as an opportunity She said Vietjet would invest in airport infrastructure if given the opportunity VIETJET AND THE USE OF SPECTOS Professional customer service is the key to Vietjet's success in the competitive landscape of the domestic aviation market With the collection of huge amounts of data from airport service quality assessments, the employees at Vietjet Customer Service Department encountered many difficulties in data analysis ● Spectos Real-Time Performance Management - The perfect solution for Vietjet Real-time performance RTPM solution helps Vietjet manage performance, monitor activities as well as make continuous improvements in real time Spectos' ability to customize and design the RTPM suite solution according to internal control procedures is an important requirement of Vietjet including regular inspection, continuous data collection and classification, evaluation, assignment, monitoring, data processing and reporting ● Excellent service for passengers and Vietjet Air After the success of a 3-month testing program in Tan Son Nhat airport, Vietjet decided to apply Spectos for the entire system and at all 32 international and domestic airports of the airline All data on airport service quality assessment is recorded through the online rating panel and immediately transferred to Vietjet's Customer Service Center In which, each failed assessment in the process automatically constituted a finding on the system and passed to the designated responsible person 14 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation All evaluation results are analyzed automatically and displayed on the screen of the online report and used as KPIs to evaluate the performance of each airport This made access to critical information faster and clearer, shortened problem-solving times and improved service quality at all airports VI Leadership, Vision, and Strategic Management LEADERSHIP: Leadership characteristics of Mrs NguyenThi Phuong Thao - Extrovertive - Sociable, sincere - Conscientious - Eager to learn, progress - Confidence and energetic Leadership Styles: - Caring about people: At the APEC CEO Summit 2017 (APEC CEO Summit 2017), Mrs Thao once shared with thousands of global CEOs that she "considers the company as her child, and considers employees as relatives" The evidence is that last Lunar New Year, she cooked some traditional meals to serve her employee, which not every CEOs gonna for their staff From these small things, she gains her employee’s trust day by day Mrs Thao is quite focused on people, her desire is not to be called a billionaire, but to improve the country economy, as well as raising the average salary for its own employees One key to the success of Mrs Thao is to lead employees with love - Dare to think dare to do: As a rare female CEO of the industry, Ms Thao is considered to be "changing the aviation market" Instead of seeing airplanes as luxury, Mrs Thao considers traveling by plane as simple as buses and taxis, so she wants to bring planes to places where this kind of thing is not popular Ms Thao goes on to create a hybrid model between low cost and traditional, called "new generation aviation" Vietjet uses optimal operating cost management, including costs of aircraft, ground services, engineering, and labor cost, technology application to reduce human costs But unlike the low-cost model, Vietjet has its own services, such as the Skyboss service with a lounge, shuttle bus, and more options for premium services on the flight to target a wider customers, Including customers with high payment ability Vietjet’s goal is to make luxury air travel simple, so that everyone and visitors can experience it Vietjet Air is continuing to pursue the goal of building a multinational aviation corporation with a global stature Many plans to open more domestic and international routes and expand to Europe and the US market have been announced VISION: 15 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation Vietjet has affirmed its role as a new-generation airline, always pioneering the latest best, pioneering in administrative reform and improving service quality; pioneering investment in modern and advanced aircraft, equipment and infrastructure; pioneering in recruiting talented human resources towards sustainable values for the community, shareholders and investors - Vietjet wants to become a global airline group with an extensive regional and worldwide flight network, providing not only airline services but also consumer services across advanced e-commerce platforms; a trusted and highly prestigious brand in the eyes of travelers all over the world - Continuously expand our flight network nationally, regionally, and globally; - Provide innovation to airline services; - Make air travel the most popular form of transportation for Vietnamese and all people around the world; - Bring happiness and satisfaction to our customers by offering outstanding services, always with a friendly smile STRATEGIC MANAGEMENT: ● Technology: Selection of the most modern aircraft Boeing 737 MAX 200, Airbus A321, Airbus A321, Airbus A320, and A320 neo are Vietjet Airs' advantage over competitors in its ability to fly long distances, save energy, safety, and the new fleet of aircraft is always attractive for a better experience for customers' options ● Human Resources: Case management 16 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation The employee's information included in the profile management system will be classified as follows: - If it is the notice of the employee's retirement, death or some reason not working in the agency anymore, but there is information related to the unit, then switch to the function Update record to save information to the repository records - The information about new employees entering the company will be transferred to the function of Update profile to bring information to the Profile store If there is a change in information about an employee's profile in the system, the record update function will process and amend accordingly, after modifying accordingly, it will be put into the file store Salary management - Acupuncture function will perform timekeeping for employees each month and it receives information from agents outside the staff - The Allowance function will add the employees to be subsidized and the allowance information is put into the Allowance store - The Salary function takes data from the Attendance and Records warehouse to calculate the salary for employees each month, then put them into the Salary warehouse Disciplinary Reward Management: - During work, Employees in the agency who work well or have mistaken will have Commendation or Discipline Search, statistics - Search Statistics receives the lookup needs of the staff and requested information of the Board of Directors, the function will search and classify information - Upon receiving the requested information, the Reporting and Statistics function will classify the information and determine to get the data in the warehouse to process ● Operational control: At Vietjet, Safety, Security, and Quality Assurance (SSQA) are always at the top priorities of flight operation management Vietjet proactively enhances aviation quality - safety - security through excellent resources management, efficient use of quality management systems, data analysis systems and safety management systems Throughout the years, Vietjet has been proud to be the leader in the application of flight data analysis system and actively partners with Airbus to implement Safety Management System, meeting aviation safety standards in accordance with the regulations of the 17 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roup.assignment.vietjet.air.corporationGroup.assignment.vietjet.air.corporation International Civil Aviation Organization (ICAO), aviation authorities, associations, alliances to which Vietjet is a member to minimize potential risks, preventing incidents that may occur in operation activities 18 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