PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON MANAGEMENT AND BUSINESS 2021 (COMB-2021)

Kinh Doanh - Tiếp Thị - Kinh tế - Quản lý - Quản trị kinh doanh ISBN: 978-604-79-2984-9 Da Nang, October 28-29th, 2021 PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON MANAGEMENT AND BUSINESS 2021 (COMB-2021) NHÀ XUẤT BẢN TÀI CHÍNHNHÀ XUẤT BẢN TÀI CHÍNHNHÀ XUẤT BẢN TÀI CHÍNH i Welcome Notes COMB-2021 Dear Friends and Colleagues, We are pleased to welcome you to the International Conference on Management and Business (COMB 2021). Your contribution and participation to the Conference is highly appreciated. The University of Danang, University of Economics is especially pleased to be presenting this year’s conference following the cancellation of the event planned for 2020 due to the COVID-19 pandemic. While the conference will be held virtually this year, the fact that so many impressive speakers and participants are joining in the discussions shows that there is much enthusiasm for continuing to work together and collaborate. Following the success of last eight consecutive years’ conferences from 2012 through 2019; today, we are honored to be the host for the COMB-2021 in our beautiful Danang city. Throughout the process from ideas to realization of this event, we have received immense support from our partners and co-organizers – Heriot- Watt University (UK), University of Liège (Belgium), Mahasarakham University (Thailand), Thuong mai University, Quy Nhon University, Nha Trang University, and Vietnam Union of Science and Technology Associations – Danang Economic Science Association. ii I also would like to take this chance to show our deep gratitude for the contribution of our distinguished keynote speakers: Professor Babak Taheri, Professor of Marketing from Heriot-Watt University in the UK; and Professor Mario Cools from University of Liège in Belgium. Working with these prominent partners and individuals has allowed us to make this conference come true I’m sure that you will gain new insights and understandings of the key issues in management and business, especially under COVID-19, and hope you will be able to network and develop new contacts that will be useful in your future projects. In closing, I’d like to recognize the hard work of the organizing committee, including our partner universities for making the COMB-2021 possible under challenging circumstances. I also wish to thank chairs that have contributed by supporting the committee’s work and by hosting parallel sessions online. We are also indebted to members of the Organizing Committee for their support to make this event a great success. We wish you all an intellectually stimulating and productive conference. Thank you Assoc.Prof. Thuy Anh VO iii Assoc.Prof. Mario COOLS, Professor in Transport and Mobility, University of Liège, Belgium His main research focus lies on transportation models, reliability of transport systems, sustainability enhancing decision support systems, and the impact of new transport infrastructure. Prof. Cools has published numerous articles in leading peer-reviewed journals, including Safety Science, Transport Policy, International Journal of Production Research, Expert Systems with Application, Networks and Spatial Economics, Renewable and Sustainable Energy Reviews, Transportation Research. Part A-B-C. Professor Babak Taheri, Professor of Marketing at Heriot-Watt University, Edinburgh, UK Prof. Babak has an established reputation in the marketing field with a specific reputation in marketing management, consumer behaviour and tourism, leisure and cultural consumption. He has published over 100 academic journal articles, a significant number of which are in 3 and 4 ABS-listed journals with high impact factors. He is the co-chairman of tourism marketing special interest group in Academy of Marketing, UK. He is Senior Editor for Tourism Management Perspectives, and Associate Editor of two journals: The Service Industries Journal and International Journal of Contemporary Hospitality Management. KEYNOTE SPEAKERS iv Andrew Abbott, University of Hull, UK Yehuda Baruch, University of Southampton, UK Hong Bui, University of Bath, UK Scott Carnz, City University of Seattle, USA Prasanta Dey, Aston University, UK Gerard O’Donovan, Munster Technological University, Ireland Antonio Lobo, Swinburne University of Technology, Australia Ninh Nguyen, La Trobe University, Australia Truong Son Nguyen, The University of Danang - University of Economics, Vietnam Anne Bartel - Radic, Grenoble Alpes University, France Sharma Sushil, Ball State University, USA Pornlapas Suwannarat, Mahasarakham University, Thailand Diane Wright, Manchester Metropolitan University, UK Mario Cools, University of Liège, Belgium Bich Loan Nguyen, Thuong mai University, Vietnam Pornlapas Suwannarat, Mahasarakham University, Thailand Yen Tran, Heriot-Watt University, UK Thuy Anh Vo, University of Economics - The University of Danang, Vietnam Ngoc My Do, Quy Nhon University Hoai Nam Quach, Nha Trang University Ba Thanh Truong, Vietnam Union of Science and Technology Associations – Danang Economic Science Association SELECTION COMMITTEE ORGANIZING COMMITTEE v CONTENTS Seq. Submission ID Title Authors Page 1 COMB21013 Recovery of Vietnam’s civil aviation industry in the context of covid-19: challenges and solutions Nguyen Nu Tuong Vi 01 2 COMB21034 Impacts of covid-19 on enterprise a general health checkup Thi Minh Hang Le, Thuy Hang Nguyen 06 3 COMB21037 The effect of resilience, agility on hotel performance during the covid-19 pandemic: the moderating effect of environmental turbulence Tran Thi Tuyet 17 4 COMB21038 The effect of psychological capital and life satisfaction on organizational resilience during covid-19: Vietnam tourism insights Do Minh Phuong 28 5 COMB21049 The relationship between organizational culture and firm performance: evidence in Vietnam in the context of covid-19 pandemic Nguyen Thi Thuy Hang, Nguyen Hiep, Nguyen Phuc Nguyen 43 6 COMB21056 Evaluating the impacts of the covid-19 pandemic on the logistics industry in Vietnam Truong Duy Nhat Phuong, Ngo Thi Minh Thu 57 7 COMB21019 Solutions for digital transformation in higher education Nguyen Thi Thu Thuy 66 8 COMB21052 Discover organizational cultural values that support successful digital transformation in Vietnamese businesses Nguyễn Nhật Minh, Nguyễn Trường Sơn, Ngô Tấn Nhị 75 9 COMB21057 Digital transformation in enhancing customer relationship in the banking sector: the case of Chabot in Vietnamese commercial banks Thi Bich Thuy Nguyen; Tran Bao Tran Nguyen; Tam Minh Nguyen 88 vi 10 COMB21002 Factors affect tourism development in associated with environment at the Cuu Long river delta Tran Linh Dang, Bui Phuong Uyen 101 11 COMB21011 Corporate social responsibility and customer loyalty: the mediating role of corporate image in Vietnamese aviation industry Hoang Anh Thu 117 12 COMB21036 E-leadership and the role of electronic communication in Vietnamese companies Nguyen Thi My Hanh, Duong Thi Thuy Quynh, Pham Ho Ha Tram 134 13 COMB21045 Evaluation of stakeholders'''' satisfaction with EVNPT''''s power transmission services Hoang Thi Thuy Nga 146 14 COMB21054 Challenges for SMEs in agricultural export: an empirical study in Vietnam Le Tien Dat 166 15 COMB21058 The risk of leverage based growth strategy: a case study of Minh Phu seafood corporation Nguyen Thanh Liem, Phan Hoang Long, Nguyen Xuan Lan 181 16 COMB21064 Impact of corporate social responsibility on business reputation: evidence from small and medium enterprises of the seafood processing industry in Khanh Hoa Đặng Hoàng Xuân Huy, Nguyễn Ngọc Duy, Lương Hoài My 189 17 COMB21017 The impact of entrepreneurial competencies on entrepreneurship intention: the case among business students in Danang Le Thi Minh Hang, Nguyen Son Tung, Ta Nguyet Phuong 205 18 COMB21027 The policy framework to support startup: a comparative study between the city of Hanoi and ho chi minh Bui Thi Hong Ha 220 19 COMB21031 Policy to improve the efficiency of incubation services at technology incubators to promote the To Hong Duc , Phan Thi Thuy Hang, Hoang Huong Giang 232 vii development of science and technology firms in Vietnam 20 COMB21035 Competencies for Vietnamese entrepreneurs Nguyen Quoc Tuan 248 21 COMB21061 Impact of psychological capital to entrepreneurial intentions – a PLS- SEM approach HOANG Ha, LE Thi Minh Hang 256 22 COMB21032 Determinants of consumer pressure for better reverse logistics Huynh Nguyen Bui, Nam Phuong Phung 270 23 COMB21053 Innovation of hotels in Vietnam Nguyen Thi Bich Thuy, Nguyen Ngan Ha 281 24 COMB21003 The role of intrinsic motivation in the relationship between psychological capital, autonomy, and innovative performance - An Application of The Theory of Planned Behavior-TPB Phong T. Tran, Dung D. Phan 294 25 COMB21023 Impact of autonomy on performance of public science and technology non - business units in Vietnam Nguyen Dang Dung , Nguyen Thi Hong 308 26 COMB21026 Work life balance of non-academic staff working in a public university Nguyen Van Long, Nguyen Bao Phương 318 27 COMB21041 Organizational citizenship behavior – a cross-cultural perspective Huynh Thi My Hanh 331 28 COMB21050 Retaining highly-skilled returnees through home-country embeddedness and reverse cultural shock Hồ Thị Thúy Nga 349 29 COMB21055 Does pay and demographic characteristics really impact on job satisfaction? A case of employees working in Danang Dinh Thi Thuy Na 360 30 COMB21059 Comparative academic performance and perceived employability of male vs female HRM students Phung Thi Phuoc An, Tran Thi Hang, Tra Luc Diep 367 viii 31 COMB21006 Determinants of tourist’s intention to use tourism mobile application – an effective tool for smart tourism development Tran Thi Thu Dung, Le Van Huy 376 32 COMB21015 YouTube audiences'''' perception of over-tourism: a qualitative content analysis with leximancer Ha Luong 394 33 COMB21029 A comparison of media channels in pandemic warnings and the consent levels of Vietnamese youths in implementing preventative measures during covid-19 Hiep Trung Bui, Tien Thuy Luong, Mario Cools 403 34 COMB21033 The role of social proof, trust, and customer traits towards the consumers’ online impulse buying on live-stream broadcasting platform - the case of Facebook live in Vietnam Ky-Minh Do, Van-Truc Vo 412 35 COMB21047 The role of immersion and presence in building customer engagement in social commerce livestreaming: an empirical study in Vietnamese context Nhan Tran- Danh, Ha Tran- Thi-Phuong, Anh Nguyen- Thi-Ngoc 440 36 COMB21048 The impact of brand hate on negative word-of-mouth and non-repurchasing intention: an empirical study in Vietnamese context Ha Tran-Thi- Phuong, Nhan Tran-Danh, Anh Ho-Hoang- Tram 451 37 COMB21060 An extensive model of perceived value in predicting consumer satisfaction toward mobile commerce: the moderator role of use of time Ho Huy Tuu , Nguyen Huu Khoi 465 38 COMB21063 Effects of relational benefits on relationship quality and customer loyalty: a study of the university- businesses relationship in HCMC-VN Phuong Thanh Nguyen, Hieu Viet Cao, Hiep Minh Phuoc, Tran Thanh Phong 481 ix 39 COMB21007 Purchase intention in cross-border e- commerce: the case of Vietnamese consumers Ta Nguyet Phuong, Nguyen Son Tung 501 40 COMB21024 Management accounting for decision - making in Vietnamese mechanical manufacturing enterprises: factors affecting and impact on firm performance Nguyen Thanh Hung, Nguyen Quynh Trang 509 41 COMB21030 Factors influencing the behavioral intention to use and recommend mobile wallets in Vietnam Nguyen Thi Thuy, Nguyen Thi My Yen, Nguyen Thi Thuy Huyen, Nguyen Thi Trang Huyen, Hoang Van Hai 523 42 COMB21039 Market anomalies: evidence from Vietnam stock market Hoang Van Hai , Tran Thi Tam Chau, Nguyen Van Long, Phan Kim Tuan, Nguyen Bao Phuong, Ngo Xuan Thuy 536 The International Conference on Management and Business – COMB 2021 1 RECOVERY OF VIETNAM''''S CIVIL AVIATION INDUSTRY IN THE CONTEXT OF COVID-19: CHALLENGES AND SOLUTIONS Nguyen Nu Tuong Vi Vietnam Aviation Academy ABSTRACT Due to the impact of the COVID-19 epidemic, the aviation industry in Vietnam is the most serious decline and supporting the aviation industry is considered a practical solution to promote growth for the whole economy, making an important contribution to the economy. In the article, challenge of the policy of restricting air traffic, financial challenge of aviation enterprises and challenge of flight infrastructure and engineering are three challenges for Vietnam aviation industry in the context of COVID-19. The author also proposes three solutions as it is necessary to strengthen aviation medical safety, it is necessary to innovate flight service procedures and the policy to support aviation recovery in order to help Vietnam''''s aviation industry maintain their operation and move towards recovery in the context of COVID-19. Keywords: COVID-19, aviation industry, Vietnam, challenges 1. Introduction Air transport in a broad sense is a combination of economic and technical factors aimed at exploiting air transport efficiently. In a narrow sense, air transport is the movement of aircraft in the air or more specifically the form of transporting passengers, goods, luggage and parcels from one place to another by aircraft (Chen et al, 2015). Air transport is an important chain link to connect modes of transport, create the ability to combine modes of transport such as Air Transport Maritime Transport, Air Transport Car Transport to take advantage of the modes of transport. Air transport is the central activity and one of the vital resources of the world (Hengsheng, 2019). Its development makes the greatest contribution to the development of modern society, is an essential economic sector for development. Air transport makes it possible to quickly transport many items in the market. The role of the civil aviation industry is therefore increasingly emphasized because of its influence on the entire national economy on a global scale, impacting on economic growth, increasing the strength of the economy, promoting international tourism development that is a key industry of the economy, thereby facilitating the development of the territory (Edgar and Joao Claro, 2014; Chen et al, 2015). According to statistics from the Civil Aviation Authority of Vietnam, in 2014-2018 period, Vietnam''''s air transport market recorded a high and continuous growth with an average rate of 20.5 in the period in terms of passengers and 13.2 in terms of cargo. In 2019, the growth rate of the market continued to be maintained at 11.8 in terms of passengers and 3 in terms of cargo compared to that in 2018. Total passenger transport reached 78.3 million passengers and cargo transport reached more than 1.25 million tons (CAA, 2020). In the international market, more than 80 leading airports in the world opened air lanes tofrom Vietnam. Many airports were upgraded and built nationwide, including modern international airport terminals, meeting international standards such as Tan Son Nhat, Noi Bai, Da Nang, Phu Quoc, Cam Ranh, Van Don, etc. According to the report of the International Air Transport Association (IATA), Vietnam is recognized as one of the aviation markets with the fastest annual growth rate in the world, higher than the average rate of the Asia-Pacific region. In Vietnam, the aviation’s growth of 2.5 will contribute to stimulating national GDP growth of 1 and vice versa, in addition, civil aviation activities are closely related to national defense, security and external economy, not just of purely economic nature (IATA, 2021). Vietnam''''s aviation industry is also not outsider of impacts of COVID-19 epidemic. When the COVID- 19 epidemic broke out on a global scale, the policy of restricting international and domestic air traffic by the governments of countries as a measure to prevent from the spread of the epidemic, the exploitation output of the worldwide airlines recorded a serious decline, leading to a decrease in the air traffic management output of inbound, outbound and transit flights. According to Vietnam Air Traffic Management Corporation (VATM), The International Conference on Management and Business – COMB 2021 2 VATM''''s plan for 2020 total air traffic management output was expected to reach only 436,000 flights, equal to 44.8; reduced more than 537,000 times, of which the inboundoutbound air traffic management was 32.5 compared to that of 2019. Private airlines such as Vietjet Air and Bamboo Airways in general ran out of financial resources to support the air transport service. In the context of the COVID-19’s outbreak, the world economy suffered great damage and the air transport industry was not the first industry to be hit in the strongest manner, which requires strong enough measures or policies for airlines to maintain their operation and revive soon (VATM, 2021). 2. Theoretical framework The recovery of the organization''''s operations after major incidents has been interested since the 1950s when Deming (1950) by the PDCA model (plan - do - check - adjust) and Lewin (1951) by the three-stage change development plan (defrost - change action - refreeze) to change the organization according to the direction of the manager. Complementing the ideas of Deming (1950) and Lewin (1951), Cummings Worley (2005) considers performance recovery as efforts to increase organizational performance and well-being through intervention plans aims to change the beliefs, attitudes, values or structure of organizations so that it can better adapt to the changing operating environment (Figure 1). Figure 1. Comprehensive Model for Diagnosing Organizational Systems (Cummings Worley, 2005) Cummings Worley (2005) understood organizational recovery after a major event as the implementation of plans to improve and refine strategies, structures, technologies, people, and measurement systems, it is to adapt to the great change from the environment. As the civil aviation industry has to change its operations and organizational structure to respond to COVID-19, risks may become more complex, new risks may arise, and potentially break the current system. This analysis is based on the theoretical framework of Cummings Worley (2005), which is also the basis for proposing relevant recommendations through the recognition of the civil aviation industry as an organization that needs to be operated again. 3. Research method Desk research report on the recovery of Vietnam''''s civil aviation industry in the context of COVID-19 with the secondary data source of good research works on civil aviation and COVID-19. Literature research focuses on summarizing and evaluating sources to provide a systematic understanding of the research problem. The documents are cited for an indefinite period of time, mainly from 2019, it for analytical citations, published by IATA, VATM and the Civil Aviation Authority of Vietnam. 4. Results and solutions 4.1. Challenges for Vietnam aviation industry in the context of COVID-19 In this article, the author mentions three challenges for Vietnam aviation industry in the context of COVID-19, such as challenge of the policy of restricting air traffic, financial challenge of aviation enterprises and challenge of flight infrastructure and engineering, it has been clearly stated: Challenge of the policy of restricting air traffic: In response to complicated developments of COVID-19 epidemic, in order to avoid spread on a large scale, the aviation authorities direct Vietnamese airlines to operate and transport passengers in line with the situation and development of the epidemic. In this force majeure case, the restriction of air traffic is inevitable. The International Conference on Management and Business – COMB 2021 3 The order of flight restriction, social distancing and isolation to prevent from the spread of the epidemic caused many international and domestic air lanes to suspend operating, immediately leading to a significant decline of the aviation industry, output through Vietnam''''s airports for the first 6 months of 2021 was estimated at 26.8 million passengers, down 19.4 over the same period in 2020 (145,000 international passengers, down 97.9; and 26.7 million domestic passengers, up 1.4) and 668 thousand tons of cargo, up 12.7 over the same period in 2020 (490 thousand tons of international cargo, up 18.1; and 179,000 tons of cargo domestic, up 0.3). International air lanes were almost paralyzed, except for some flights with the nature of relieving compatriots from other countries, so airlines mainly focus on exploiting domestic air lanes (CAA, 2021). For domestic airlines, during the 4th epidemic outbreak (from April 27, 2021 to now), there was a policy of suspending all domestic air lines carrying passengers to and from Con Dao (Ba Ria - Vung Tau), Ca Mau (Ca Mau), Rach Gia (Kien Giang). The remaining air lanes were allowed to operate minimally. Specifically, Phu Quoc - Hanoi: 1 flightday, A321 aircraft was assigned to Vietnam Airlines to operate. On July 19, 2021 alone, Vietnam Airlines had no plan, Bamboo Airways is assigned to operate. Can Tho-Hanoi: 1 flightday, A321 aircraft was assigned to operate by Vietnam Airlines. On July 19, 2021 alone, Vietnam Airlines had no plan, Bamboo Airways was assigned to operate. Ho Chi Minh City-Hanoi: the airlines organized the operation with the frequency and supply load as at present (stated in Document No. 2973CHK-VTHK, July 8, 2021). For international aviation, according to statistics of the Vietnam National Administration of Tourism, the number of international visitors to Vietnam in 2020 reached 3.6 million, mainly in the first three months of 2020. In general, the output of passenger transport in 2020 reached 36.3 million passengers, down 54.1 compared to 2019 (7.23 million passengers for outbound, down 82.7; 29.06 million turns for inbound, down 22.3). Up to now (August 8, 2021), there have been only about 30 foreign airlines from Northeast Asia, Southeast Asia, the Middle East and France to operate flights for cargoes, diplomats, experts, investors, skilled workers, foreign students... tofrom Vietnam. Financial challenge of aviation enterprises: Vietnam has 6 active airlines, including: 3 airlines of VNA Group (Vietnam Airlines, Pacific Airlines, Vasco), Vietjet Air, Bamboo Airways along with the new airline just put into operation in late 2020, namely Vietravel Airlines. In the report on business development in 2020 and the first 5 months of 2021, for the aviation industry, the Ministry of Planning and Investment said that the market recorded the most serious decline, the demand for air transport in 2020 decreased by 34 .5 - 65.9, revenue of aviation enterprises decreased by 61 compared to 2019. Vietnam Airlines'''' 2020 audited financial statements showed a sharp decline in revenue and profit. Specifically, Loss before tax of Vietnam Airlines was VND 8,743 billion. In which, passenger transport efficiency (excluding revenues other than passenger transport efficiency) got loss of VND 10,975 billion, VND 10,989 billion higher than that of the same period last year. The average revenue of a domestic passenger was VND 997 thousand passenger, down 34.5 compared to 2019. Vietnam Airlines forecasted a loss of about VND 4,800 billion in the first quarter of 2021, and possibly up to VND 10,000 billion in the first 6 months of the year. Meanwhile, Vietjet''''s loss before tax is VND 1,780 billion, of which passenger transport efficiency (excluding revenues other than passenger transport efficiency) got loss of VND 4,311 billion, VND 3,896 billion higher than that of the same period. The average revenue of a domestic passenger was VND 450,000 VNDpassenger, down 34 over the same period. The Vietnam Aviation Business Association (VABA) reported that the revenue of airlines in Vietnam in 2020 decreased by more than 60 (a decrease of about VND 100,000 billion). The amount of money paid to the State budget also reduced accordingly, while in 2019, airlines paid direct and indirect taxes and fees more than VND 20,000 billion. In 2020, airlines such as Vietnam Airlines, Vietjet and Bamboo Airways got loss of VND 16,000 billion. In 2021, due to the impact of the COVID-19 epidemic, the revenue of airlines decreased deeply. In 2021, the short-term debts and due debts payable of 3 airlines, namely Vietnam Airlines, Vietjet and Bamboo Airways reached VND 36,000 billion, of which those of Vietnam Airlines alone were VND 20,000 billion (VABA, 2021). The accumulated property and financial resources of airlines have been exhausted, opportunities to access loans are difficult and borrowing costs are high. The International Conference on Management and Business – COMB 2021 4 Challenge of flight infrastructure and engineering: Total designed capacity of 21 airports nationwide is about 96.05 million passengersyear, while the number of passengers through the entire port network last year reached 103.5 million passengers. The airplane between Hanoi and Ho Chi Minh City alone is one of the busiest air lanes in the world with a capacity of 8-9 million seats per year, COVID-19 has upset business indicators and challenged the flight infrastructure and engineering more and more clearly. At present, the fleet of Vietnamese airlines has reached about 250 aircrafts, during the COVID-19 epidemic, only 1-2 of the fleet is operating. Currently, Vietnam aviation has only partially recovered and about 70-80 of the fleet is still lying on the ground, total number of active seats in April 2021 was estimated at 137 compared to the same period in 2019 while the purchasing power (total market revenue) was estimated at only 76. This situation leads to inefficient use of the fleet, low occupational efficiency while terminal costs are still payable. Meanwhile, to maintain minimum operation during the epidemic season, airlines has had to pay more than VND 100 billion day (CAA, 2020). 4.2. Some solutions for the recovery of Vietnam civil aviation industry in the context of COVID-19 Firstly, it is necessary to strengthen aviation medical safety. In the context of the epidemic, strengthening aviation medical safety is a prerequisite for maintaining the operation of the industry. To enhance aviation medical safety, first of all it is necessary to organize the control of passenger''''s medical declaration, ensure that passengers make medical declaration before boarding the plane; propagandize passengers to execute medical declarations when buying airline tickets and when doing airline check-in procedures. Airlines have right to refuse to transport the cases that fail to comply with medical declaration and regulations on epidemic safety. Continue to maintain the requirement of evidences of negative COVID-19 test or recovery from COVID-19 infection for all passengers along with improving the quality of COVID-19 rapid test service to serve passengers, at the same time strictly comply with regulations on anti-COVID-19 epidemic such as 5K and vaccine passport. Set up a fixed RT-PCR laboratories right at the airports instead of taking samples and transferring them to medical facilities at the present to minimize waiting time for pre-flight medical test. Ensure absolute safety for the flight service force. Next, it is necessary to innovate flight service procedures. Focus on service control and safety before flight, reduce post-flight processes to quickly release passengers. Airlines need to improve service quality to better meet the needs of passengers, especially passengers who are the elderly and the disabled; build a plan to organize appropriate passenger transport, promote the application of e-ticketing, guide and arrange human resources to assist passengers in making mandatory medical declarations, completing security check-in procedures when attending domestic flights. Airports should change the appropriate way of organizing passenger pick-up and drop-off, limit overcrowding at ports, change the security screening process and capacity at international airports and minimize congestion at the security screening area. Organize appropriate distribution of walking flows and lanes of passengers; arrange the areas for inter-flight passengers, passengers rejected for entry, etc., separate from the area of passengers related to screening and isolation handling in anti- COVID-19 epidemic. Finally, the policy to support aviation recovery. It is very necessary to strengthen the role of the State in the aviation industry through equal support policies for all airlines and owners of State capital in national airlines through special support packages along with tax, fee and price solutions. The State’s role will ensure the existence of airlines and the interests of customers, creating a premise for the future recovery of the industry. The role of State management in the aviation industry is mainly expressed in a number of aspects: 1- Establish new safety standards for aviation activities; 2- Form policies to protect the aviation industry such as taxes, fees, healthcare, insurance and other issues when flying, it is necessary to have a legal corridor to facilitate credit institutions together with enterprises to overcome difficulties and ensure liquidity, so that it is possible to recover and develop in the future; 3 - Ensure fair and healthy competition among enterprises operating in the aviation market, develop and effectively use the airspace with other countries. The International Conference on Management and Business – COMB 2021 5 5. Conclusion COVID-19 continues to develop very complicatedly, which is make the aviation enterprises face the problem of “existing or not existing”. A series of flights was cut down, aircrafts were in idle state, passengers were absent, airports came to a standstill, airlines continuously reported huge losses showing the negative impacts of the epidemic to the business activities of this industry. The recovery of the aviation industry worldwide depends entirely on the ability to control the COVID-19 epidemic. Although the world has been producing a vaccine to prevent from COVID-19, but the prospect of completely extinguishing the epidemic in the near future is very unlikely, so the report''''s author proposes that now it is needed to have special solutions such as enhancing aviation safety, renovating flight services and policies of supporting aviation recovery in order to help Vietnam''''s aviation industry maintain their operation and move towards recovery in the context of COVID-19. REFERENCES 1 Chen, J. K. C., Batch, A. et Batnasan, U.J. (2015), “Services innovation impact to customer satisfaction and customer value enhancement in airport”, Technology in Society, 43, 219-230. 2 Cummings, T.G., et Worley, C.G. (2005), Organization development and change (8th ed.), Mason, OH: Thomson South-Western. 3 Deming, W, E. (1950), Elementary Principles of the Statistical Control of Quality, Japanese Union of Scientists and Engineers. 4 Edgar, J. et Joao Claro, J. P. S. (2014), “The Airport Business in a Competitive Environment”, Procedia - Social and Behavioral Sciences, 111, 947-954. 5 Hengsheng, G. (2019), “Airport Revenue Diversification”, Journal of Management Science Engineering Research, 02, 21-24. 6 Lewin, K. (1951), Field Theory in Social Science, Harper and Row: New York. 7 The Civil Aviation Authority of Vietnam - CAA (2020), “IATA: The COVID-19 epidemic caused the airline industry''''s revenue to drop”, http:caa.gov.vnhang-khong-the-gioiiata-dich-covid-19-khien- doanh-thu-nganh-hang-khong-lao-doc-20201204105515849.htm 8 The Civil Aviation Authority of Vietnam – CAA (2021), “Provisional guidance (replacing Decision No. 1594QD-BGTVT dated August 27, 2021) on epidemic control for air transport activities during the time of Covid-19 epidemic prevention and control”, https:caa.gov.vnhoat-dong-nganhhuong-dan-tam-thoi- thay-the-quyet-dinh-so-1594-qd-bgtvt-ngay-27-8-2021-ve-kiem-soat-dich-doi-voi-hoat-dong-van-tai- hang-khong-trong-thoi-gian-phong-chong-dich-covid-19-20210910151926292.htm 9 The International Air Transport Association - IATA (2021), “Airline Industry Statistics Confirm 2020 Was Worst Year on Record”, IATA. 10 The Vietnam Aviation Business Association – VABA (2021), “Support to reduce fees and charges: 3 recommendations, 6 proposals of the President of the Aviation Business Association”, http:vaba.com.vnho-tro-giam-phi-le-phi-3-kien-nghi-6-de-xuat-cua-chu-tich-hiep-hoi-doanh-nghiep- hang-khong.html. 11 Vietnam Air Traffic Management Corporation – VATM (2021), “VATM has been heavily affected by the Covid-19”, https:vatm.vnvatm-chiu-anh-huong-nang-ne-cua-dai-dich-covid-19-n6300.html The International Conference on Management and Business – COMB 2021 6 IMPACTS OF COVID-19 ON ENTERPRISE A GENERAL HEALTH CHECKUP Thi Minh Hang Le, Thuy Hang Nguyen University of Economics - The University of Danang ABSTRACT It has been proved that COVID is not just a disease, which infects humans and birds, but also causes impacts on enterprises. This large-scale research put focus on firms operating in Danang, one of the cities, which are severely impacted by the pandemic from the beginning of 2020 to the first quarter of 2021, right before the escalation of the number of cases in May. The large firm’s database enables the readers to have a wider view of local firm’s health but also provides quite detailed information as all the firms are categorized into 5 groups, which are (1) essential service, (2) non-essential service (3) essential products for daily life, (4) essential products for industry and (5) non-essential products, based on the Directive 16 of the government. This research is considered as a pilot study for the next research on the related topics. Keywords: COVID, Firm’s health, Danang Vietnam. 1. Introduction In 2020, the appearance of a “small” virus created enormous change on a global scale. COVID-19 has taken the lives of not only million people but also enterprises, as according to Euler Hermes, a trade credit insurance, in the period from 2019-2021, about 35 of companies would go bankrupt (Euler Hermes, 2020). Until the first quarter of 2021, Vietnam had enforced fierce measures at the beginning of the pandemic and quickly put everything under control in a short period of time (Trang Nguyen and Danh Vu, 2020). The world’s media portraited Vietnam and its health service as role models for its firm, quick and effective reactions. In scientific journals, articles focusing on the social aspects, both human’s physical and mental health, the changes in behavior, etc. with Vietnamese people as the research target had been widely published in a large quantity(Ha et al., 2020; Le et al., 2020; Trevisan et al., 2020). However, the situation has not been captured fully without mentioning the economic aspect, enterprise health to be specific, as companies are the nucleus of economies. With the economic approach, this paper aims to describe the health of Vietnamese firms on a large scale after 1 year of COVID-19. This is probably the economic scientific research with the largest sample size until now conducted in Vietnam. Unlike the human body, which does quickly react with the virus, the impacts of COVID-19 on firms are slowly showed, at least not as quick as our body. Therefore, reverse to the hasty need of lightening publish speed of the social-focusing article, we can slow down a little bit when conducting such research like this. This research is not a descriptive paper about “the impact of COVID-19 on…” but more than that. Taking it slow enables us to actually see how companies had changed to adapt to the situation. How effective the government’s measures are? How long firms are expected to remain alive? All from the perspective of local enterprises - the COVID fighting patients. So, it is possible to call this a general health checkup report. 2. Theoretical framework We clearly are not the only one, who feels the need of capturing the COVID-19 situation of enterprises. As mentioned at the beginning, there are a lot of papers with the economic perspective that have been well published during the last 2 years. Regarding the firm’s situation in general, Rakshit Paul (2020), detailly listed all the impacts of COVID-19 on every aspect of the Indian economy, right before the pandemic escalating in this country. The authors saw the pandemic somehow as a chance for India to grow strong as there is an investment shift from China. Also, possible business strategies are listed as a source of reference. Though, this was actually not a research paper but more likely a review gained from the media. The International Conference on Management and Business – COMB 2021 7 Focus on how American SMEs suffered from the COVID and how things have improved since the CARES Act (short for The Coronavirus Aid, Relief, and Economic Security Act, which was legislated by the US’s congress), Humphries et al., (2020), did an amazing job of being able to collect a huge sample size from the participation of 8000 business owners. Similar to other papers (Dias et al., 2020; Tu et al., 2021), this one portraited the present state by showing the current layoff rate and views on the future vision of their businesses, in addition to that the level of their awareness of existing government relief acts. Interestingly, it was shown that the small one was fallen behind, as obviously, how they could get benefited from the CARES when remaining unaware and lack of congruent information assessment of the government grant programs. We also encounter a similar result in the paper of A. W. Bartik et al., (2020) and Shafi et al., (2020). Bloom et al. (2021) collect the data from 2500 firms to assess how COVID has impacted small American businesses. A plump has been found on firm’s sales, this is more serious for small businesses (40 in drop) compared to just 10 drop happened with large online businesses. Meanwhile, based on the financial data of listed companies, the impacts of COVID on the corporate performance of China, the US first rival, was studied by Shen et al., (2020). It is evidently showed that COVID has a significant impact on firm’s performance especially with firms in vulnerable sectors like catering, tourism, transportation, and those, which are in the “red zone”. Also about China, Bouey (2020) keeps track of how things escalated in China to give the reader some indication about how COVID affects local SMEs then point out some recommendations base on China’s situation. As shown in China’s case, social-distancing-based actions put a burden on SMEs, as they are financial-fragile and more cash-constrained compare to the big ones, in addition to that the shrinkage in market demand makes it even worse for those “ants”. In the difficult time, those can benefit from online platforms and virtual services, indeed this is how many SMEs in China have used to survive during COVID. The paper above showed how different companies were impacted by the pandemic but couldn’t deliver a situation comparison between nations, regions, or types of business. It would be a unilateral statement to describe COVID as a fatal shear for every business. It is undeniable that COVID restrictions make the demand for non-essential goods slump but it also opens a whole venue for other businesses such as healthcare goods, sanitization products (Kaye et al., 2021). E-commerce is one of them, as COVID has triggered the rapid growth of this business by changing customer’s habits (Bhatti et al., 2020). The risk of some can be the chance for the others. The thing is, are they able to make use of “ the fortune”? Is it possible for a tree to be healthy and green if its root is rotten? Despite long lines of customer floods into the stores, can retailers gain a significant leap in revenue if their suppliers, their transporter fail to make their job done? It is irrefutable that COVID has given the global supply chains a strike. Everything gets disrupted because of the lockdown of a third-party’s company in a far-away developing country. Clearly, the global supply chains are not strong enough to endure such a serious pandemic of the human race (Kumar et al., 2020). For SMEs – the vulnerable one, particularly, change is essential to survive. Regarding this, Gregurec et al., (2021) divide SMEs into subsectors then ask them what motivates them to change and which technologies assist them in that process. For the change-driven factors, they may be the change in the organization, change in the customer behavior and demand or technical change, etc. Almost all advanced technologies are mentioned in this research, including blockchain, AI, deep learning, etc. What makes this paper more interesting is that the authors somehow manage to fit the impacts of COVID on SME’s business model by illustrating all the dimensions into business model CANVAS in a detailed and easy-to-understand way. Overall, all the paper focused mainly on how are companies suffering from COVID and how things change but are they all simply resulted from COVID? Can we break it down into more specific macro factors? That’s what we are going to experience in this upcoming research. 3. Research method In Vietnam, the research stream has mainly focused on the medical and health sectors. Searching for a while but we only found a few papers with an economic approach. Most of them clarify how COVID has made a strike on the tourism sector (Do et al., 2021; Hoang et al., 2021; Nong et al., 2021). Apart from that, the paper of (Nguyen et al., 2021) is also an interested one with the financial scope, the author investigates how COVID The International Conference on Management and Business – COMB 2021 8 impacts firm’s financial performance by looking at the firm’s revenue, profit, cash reserve and DE ratio. The researchers also ask the firm’s representative about how they generally react to the shock and their assessment of the effectiveness of the government’s granting program. Despite the differences in the approach and scope, those above papers have somehow done a good job in describing the current state, however, see the loss in number is not enough. We feel the urge to investigate how firms managing to survive by changing their business, adapting to the changing environment in a structured way, using well-modeled tools like PESTEL and CANVAS. These two tools would be used in this paper to fully capture the change in the macro external environment as well as how firms adjust themselves to fit it. PESTEL is presented for Political, Economic, Socio-cultural, Technological, Environment and Legal, this analysis enables firms to determine the dynamic environment them operating within, to detect opportunities and threats confronted by the firms (Yüksel, 2012). Well team up with PESTEL external scanning tool is CANVAS model (Figure 1), which depicts for the internal environment. The nine-section model justifies how an organization generates, delivers and captures value, going from key activities, key resources to channels and revenue stream, etc. (Osterwalder and Pigneur, 2010, p.14). Figure 1: Business model CANVAS This paper is expected to be large-scale qualitative research, this enables us to dig deeper into the nature of the changes that happened to firms. The questions are asked in many forms, besides the descriptive requirements, most of the questions are open-ended. The questionnaire is developed into 6 small sections. First, we start by firm classification on size or business sectors in which the firms are operating. Second, firm’s representatives are asked how external environment factors have affected their business. To create a concrete structure, we ask firms to follow the PESTEL model here, not to gain a full description of the external environment but more about capturing the critical changes. After that, investigating how firms suffer from COVID by looking at popular indicators such as revenue, profit, number of labor, etc. The fourth session is used to investigate their own forecast on their firm’s health if COVID still can not be controlled in the future. Not only describe the impacts, but we are also interested in how these firms have adapted to the situation, that is why we spend the next session on the firm’s reactions to the change caused by COVID. The data is collected extensively on all aspects of the business. Unlike (Gregurec et al., 2021), who use the Business model Canvas as an illustration tool for their research, here we use the model directly in our questionnaire. This makes it easy for both the interview and the informant to understand the question as well as prevent possible missing information as the model already covers every aspect of the business. Similar to the use of PESTEL in the previous section, the focal point here, again, is the changes, not how companies operate. Finally, firm’s representatives are asked to give their opinion on the granting acts of the government. (Appendix A) This research is supported by volunteer business students who have a decent knowledge of the business model CANVAS. They are those who conduct the interview and play an important role in this project. The informant from Danang-based firms, which have set up collaborative relationships with the Danang University The International Conference on Management and Business – COMB 2021 9 of Economics, is invited to join the interview randomly. The data collection process lasts 2 months, from March to April 2021, right before the escalating of COVID in Vietnam, with almost 100 data at the end. 4. Results and discussion To be exact, we collected valid data from 95 enterprises, operating in different sectors with different sizes in Danang. The firm’s representative was carefully chosen and must holding at least head of department position. There are two points that need to be declared clearly here. First, the local branches or big national enterprises are treated as headquarters, the informant provided the data from the perspective of the CEO, assuming that the information available to the headquarter and to every branch is equal. This assumption is important as it makes all the firm participating in this research has an equal background, the same lockdown policy implied on as they were all operating in Danang. Second, the assumption above is still not enough to create a completely equally circumstantial for all the firms, as there are still critical differences between the impacts of COVID on a service provider versus that on a manufacturer. Therefore, base on the Directive 16, implemented by the Vietnamese government, 95 firms are classified into 5 groups: (1) essential service: such as healthcare service, food retailing, logistics… (2) non-essential service, (3) essential products for daily life, including agriculture, food processing… (4) essential products for industry, such as exporter, raw material producers… and (5) other non-essential products. Hereafter, the paper will deliver 5 reports respectively to those 5 groups mentioned above (Figure 2) Figure 2: Descriptive statistics 4.1. Non-essential service For this group, we have 47 firms. These are firms that provide tourism services, rental services; they are constructors or IT companies also. Among them, there are only 4 firms, which are considered big enterprises. Most of the firms agree that Economics and Technologies are the external changing factors that have the greatest impact on firms. As these are all non-essential service providers, except for the August totally closed down in 2020, the demand is not as high as usual. In detail, 21 of firms claim a severe drop in demand, which is 50-70 less than the normal one. A decrease of 5-30 is seen by 44 of firms. According to that change in demand, most of the firms have to pause their daily operation (13) or reduce their capacity (47) (Figure 3) However, as almost 50 of the firms that fall into this category can still actually deliver their service without direct contact, so even if the on-site activities are pause, 17 of companies shift to online and still have growth or unchanged revenue. Meanwhile, for 45 of the firms, who can not, a decline in revenue is unavoidable. As a result, 32 of firms experience a significant reduction in profit, around 40-80 drop; 40 of firms have slight revenue drop, which is below 20 and only 26 of firms, which can manage to have a 10-30 growth in profit (Figure 4) Of course, this is not purely because of decreasing demand and operational intermission, but also difficulty in distribution and sourcing. Regarding distribution, 47 of firms complain 47 34 2 6 6 0 10 20 30 40 50 Non-essential service Essential service Essential product for daily life Essential product for industry Non-essential product Firms participating the research by catagory The International Conference on Management and Business – COMB 2021 10 that they find it difficult to distribute their service. About sourcing, 25 of firms are annoying as their order coming late, 3 of firms even have a cut-off source due to the breakdown of the supply chain. To adapt to the new condition, 36 of firms have layoff a small percentage of their workforce to survive. In terms of cost per service, in general, 42 of firms have their cost structure increasing. Being asked about their own assessment on “financial health”, 40 of firms are still “in-shape”, while 42 feel slightly ill. 45 of firms claim that their ability to raise funds is also decreasing. As a large portion of firms in this group are tourism companies, 50 of the firms think that their bankruptcy possibility is more than 50, which is pretty Figure 3: Operation condition of group 1 high, if the situation is not improved. However, if things get better soon, 51 of firms believe that they need under 6 months to fully recover, 26 less than 1 year, 4 less than 2 years. Noticeably, only 11 of firms confirm that their business model has changed. These changes may be about distribution channel, target market, new activity. When being asked about the support policy of the government, 55 of firms did not receive any support until the interview, 70 admit that they don’t know or just know some basic knowledge about the supportive package from the government. Hence, 47 of firms have no assessment of the government’s actions, only 10 have a negative assessment. Figure 4: Profit growth of group 1 30 47 13 10.0 Operation condition Operating as usual Operating with lower capacity Paused operating or temporary close Operating with higher capacity 32 40 26 2 Profit growth Significant drop (40- 80) Slight drop (below 20) Slight increase (10-3- ) Unchanged The International Conference on Management and Business – COMB 2021 11 4.2. Essential service For essential service providers, we have a good balance structure of 18 SMEs and 16 big enterprises. They are food retailers, banks and logistics companies, both national and international. Those firms also have a similar view on critical external factors during the pandemic. In general, all the service provider in this group is essential to people’s minimum daily consumption demand so it is expected that the impact of COVID on these are not in a negative tendency. However, from what we get, there are still 26 of firms operating with lower capacity due to the pandemic (Figure 5). Again, we have to look at some potential factors that may cause this: demand level, distribution and sourcing. Just 15 of firms have to deal with a significant drop (40- 50) in demand; 32 claim to have a slight decrease in demand (around 20-30) and 41 of firms have a small rise below 30. There are 65 of firms having problems in distributing while only 30 of firms having difficulty in sourcing. As a result, essential service providers are still suffered from the disease. This is shown clearly by looking at firm’s revenue and profit. Except for 47 of firms, which can still maintain positive revenue growth, 41 of firms experience a negative growth rate of -20 to -55. In terms of profit growth, in accordance with the above revenue rate, 44 of firms have a growth of profit, which is below 30. Firms, which have a slight drop in profitability (below 10 decreasing) account for 26 of the whole group. A significant profit drop at 30-40 is experienced by 17 of firms only (Figure 6). Figure 5: Operation condition of group 2 COVID has suddenly created more pressure on these firms. 32 of firms report an increasing cost structure as safety measures are mandated for firms to keep operating as usual. 70 of firms don’t change their workforce or even have to recruit more to meet the increasing demand. In terms of financial health, 59 of firms are still “healthy”, 30 of firms even claim that their ability to raising capital is improved. Those firms are quite optimistic about their survival rate, as they are all essential, so they are likely to still be alive even if the disease escalating in the future. Though the negative impacts are unavoidable, for those who are struggling, it is expected that they would need less than 6 months to fully recover after that. These firms account for 70 of the whole group. We don’t have enough information about their latest business model whether they are good or not, digitalized or still quite raw but when being asked if their business model changed during this time, we get a “no” from everyone. 65 of firms don’t receive any help from the government, mostly because they are not “in the list” as just 17 of firms “have no idea”, the rest have basic knowledge about the supportive package. In general, 35 of firms give nice compliments about the government’s actions. 53 26 6 15.00 Operation condition Operating as usual Operating with lower capacity Paused operating or temporary close Operating with higher capacity The International Conference on Management and Business – COMB 2021 12 4.3. Essential products for daily life For this category, we only have 2 firms, both are agriculture and food processing firm, one medium, one big in size. With that background, it makes sense that apart from Economics and Technology, Environment is also a changing factor that impacts firms during this time. Food is essential so these firms still operating at normal capacity. The growth rate of revenue is 4 and 11, respectively, though, profit growth rates are just below 1.5 this is explained by the radical change in cost structure, in which the increasing labor cost and operating cost - mostly spending on safety measures, account for a significant amount. Although companies have some difficulties regarding distributing their product to the market, as they are not so serious, nothing really changes in their business model or financial health. 4.4. Essential products for industry Exporters or raw material providers fall into thi...