As of December 2021, the consumer goodsindustry alone has reached the milestone of 3,000,000 customers.To be precise, NEWA scaled up into an Investment Group, owning 7subsidiaries, distr
FINAL PROJECT Implementing Digital Transformation solutions for NEWA Group Class: Digital transformation and artificial intelligence Lecturer: Nguyen The Dai Nghia Class code: 222MI5216 Group members: Name Student ID Mission 1 Tran Pham Anh Duy K214020172 Leader 2 Nguyen Quang Dat K214020174 Member 3 Nguyen Ngoc Thao Nguyen K214020180 Member 4 Nguyen Quang Phat K214020181 Member 5 Le Phuong Thao K214020183 Member TABLE OF CONTENTS Ho Chi Minh city, April 29, 2023 I Overview of Enterprise 3 1 The history of formation and development 3 2 Vision and Mission 4 3 Business model and Revenue model 5 4 Business operation .7 II Analysis 9 1 SWOT 9 2 Porter’s Five Forces 10 3 Competitors .11 III Recommendations .12 IV Implementation 13 1 Planning 13 2 Implementing 14 3 Risk forecasting .16 V Conclusion 17 VI Group member assessment 18 VII Proof of teamwork using Trello 19 2 IMPLEMENTING DIGITAL TRANSFORMATION SOLUTIONS FOR NEWA GROUP I Overview of Enterprise NEWA Group can be considered as one of the most influential multi-industry investment units in the Vietnamese market today and is continuingly on the rise Formerly known as Wean Company (established in March 2012), a company specializing in the production of bedroom furniture and utilities After certain successes, the founder has gradually expanded the business field with the desire to provide consumers with a new experience, “Elevating life - Launching the future”- he always says this slogan with utmost confidence 1 The history of formation and development NEWA group's starting point is the mattress industry, in particular Wean - a company that manufactures bedroom furniture and gadgets in March 2012, laid the foundation for the start-up process, its main business products include popular mattress lines such as pressed cotton mattresses, spring mattresses, natural latex mattresses The company was strict with themselves, demanding for each product made to build trust in consumers The beginning of 2014, marked a big step in the company's material revolution NEWA is proud to be the leader in bringing mattress products made from artificial rubber to the market The company learned and improved production techniques from European rubber factories, creating a soft mattress with high durability but the price is 20% cheaper than natural rubber When just launched, Wean natural latex mattress has resonated and gained many positive responses from consumers This leading innovation in product design and function has helped the brand gain the trust of consumers In 2015, from a small supplier, Wean promoted to a main distributor, with 2 high-end showrooms located in the most prime locations in Ho Chi Minh City In addition to the soft mattress and warm blanket, the founder decided to elevate Wean into the NEWA group and continued his life-making journey with the Supplements Business Product sources are mainly imported directly from Europe and Korea Along with that is the development of the bird's nest industry The policy of building a modern "swallow-making" line; creating products of superior quality, bringing a new breeze to the market The next industry was bird's nest - a fertile land in the food market Vietnam possesses a climate and many favorable conditions for raising oats, creating an abundant supply From that premise, NEWA built our own bird's nest factory in parallel with outsourcing for like-minded business partners 3 Today's achievements are the result of many years of unremitting efforts NEWA Group sets itself the mission of "Creating the future, giving people a new and happy life experience", with 3 groups of activities: Technology – Industry, Trade, and Service On this journey, NEWA Group also faced many difficulties from finding investors, industry competition, economic crisis, etc But with the solidarity and determination combined helped the company to overcome its challenges and reap many sweet fruits Having accumulated many years of experience in the import and export industry, NEWA Group International Investment Group was officially established in 2020 with seven affiliated companies Strengths are in consumer goods such as nutritious food, furniture, and household appliances By the end of 2021, NEWA Group has built 7 branches in Ho Chi Minh City Ho Chi Minh City and associated with more than 20 agents nationwide As of December 2021, the consumer goods industry alone has reached the milestone of 3,000,000 customers To be precise, NEWA scaled up into an Investment Group, owning 7 subsidiaries, distributing the scope of activities to the following categories: Production and Trade, Import-Export, Real Estate, etc has greatly influenced the Vietnamese market The two most typical brands are Wean - Providing sleep care products and Vinnest - Premium bird's nest; welcomed by millions of customers 2 Vision and Mission 2.1 Vision NEWA – NEWA (New Age – New Area) aspires to open a new era, a new space; towards a more modern lifestyle The only way to keep up with the times is to keep moving forward, constantly improving With available strengths, NEWA Group always strives to bring breakthrough products to serve consumers' lives in the best way A in NEWA is also the leading character - Representing the aspiration to become a leading company in quality and expand its scale to many other fields The founders want to build NEWA group into a business Steadfast in the various industries, NEWA continues to expand its business scope and realizes its ambition of elevating the Vietnamese brand name in the domestic and international markets 2.2 Mission 4 If the orientation is too high, is it called far-fetched? This problem is always a big concern, when any company wants to scale bigger Many businessmen still have the mindset of following the old-fashioned way or imposing rigid theories that forget the "compromise" law in the marketplace NEWA always encourages employers to think bigger- while managing their dreams within reach NEWA Group's staff is always actively learning new things and saying no to the way of thinking The main goal is to improve the quality of products and services to bring satisfaction to customers For example, the real estate market is sure to attract many investors, and the latecomers will use the experience of their predecessors as a basis for competition So, the only key to standing in the market is this: Continuous improvement Good orientation will help us have the motivation to strive and discover more new potentials Additionally, as the human factor plays a huge role in the development foundation of the company, NEWA’s motto is "Make the company a second home for employees" with a professional working environment, freedom to express individual abilities and views as well as promote solidarity and mutual support Besides, NEWA also organizes many training programs to improve professional qualifications and open up many promotion opportunities In addition to business goals, NEWA Group also focuses on building higher social values through charity or relief activities In 2021, the company was also one of the frontline units to support local soldiers in their fight against the COVID-19 epidemic with more than 500 gifts sent to each household 3 Business model and Revenue model 3.1 Business model NEWA Group is a multi-industry investment enterprise with a diversified business portfolio The company operates in various sectors including nutritious food, furniture, household appliances, and most recently, real estate The business model of NEWA Group is primarily based on investment, development, and management of various businesses The company invests in different sectors and develops businesses that are profitable and sustainable in the long run NEWA group aims to create value and grow its businesses while maintaining its reputation and brand image In the nutrition culinary sector, NEWA has their own factory Self-reliance in production will help businesses control input and output quality easily, as well as be flexible in improving quality and design The factory owns modern production lines, 5 applying European technology, for high productivity and synchronous product quality In addition, the preliminary processing and distillation process are closely monitored and manually managed to ensure that the nutritional composition of the bird's nest is preserved However, this direction also brings many challenges because of high operating costs and the need for continuous upgrading of expertise to keep up with the times In the mattress and warm blanket sector, all machines and equipment used apply modern technology, meet international standards and the raw materials are 100% produced in Vietnam This is to replace previously imported products, helping customers save costs and easily check quality or apply warranty policy NEWA is one of the leading companies in manufacturing, processing and supplying furniture, bedroom gadgets and nutritious food In the real estate sector, the company invests in land and property development projects, and provides property management services The company has developed and owns several residential and commercial properties in Vietnam Not only that, the Group is still on track to expand its business scale and encroach into industries such as Commercial Services and others Overall, the business model of NEWA Group is focused on identifying and developing opportunities in various sectors, investing wisely, and creating value for stakeholders and customers 3.2 Revenue model NEWA Group's revenue comes mainly from Modern trade sources: supermarkets and small retailers, online platform retailers and commissioners (although admittingly, NEWA only partnered with one big online sales channel- Shopee) With mattress revenue stream, NEWA group’s most common ones are: + Direct to consumer: The company earns revenue by charging a markup on the cost of manufacturing the mattress and selling mattresses directly to consumers through a website or physical store + Wholesale: This model involves selling mattresses to retailers at a discounted price The retailer then sells the mattress to the end consumer at a markup, and the mattress company earns revenue from the wholesale price + Subscription: NEWA offers a subscription service where customers pay a monthly fee for access to a new mattress every few years The company earns revenue by charging a monthly fee and manufacturing and delivering new mattresses as needed 6 Document continues below Discover more fDriogmita: l Transformation and AI MI2255 Trường Đại học… 12 documents Go to course [222MI5211] Group 8 Sign Language AIMi… 15 None Chuyển đổi số GROW case 14 None Chuyển đổi số 27 Chuyển 100% (2) đổi số và… AI Application - hay lắm coi đuy 13 Chuyển 100% (1) đổi số và… Trading HUB 3 36 Xác suất 96% (28) thống kê File giáo trình bản pdf HSK 2 8 The revenue model of the bird nest final product typicGailályostirmìnilhar mattress 100% (11) income stream, however with processed/raw materials revecnhueủ nmgohdĩe…l typically involves the following as extras: + Value-added products: NEWA manufactures their own value-added products, such as bird's nest soup or bird's nest skincare products These products can help the company generate additional revenue streams and may be sold directly to consumers or through retailers + Membership programs: NEWA does offer membership programs that provide access to exclusive products or discounts on purchases for other businesses or the franchisers This can be a way to generate recurring revenue and build customer loyalty The revenue model of NEWA real estate sector typically involves the following: + Sales commission: This is the primary source of revenue for NEWA’s real estate sector - the sales commission earned from buying and selling properties NEWA earns a percentage of the sale price as a commission for facilitating the transaction + Property management fees: NEWA also charges property management fees for managing properties on behalf of property owners This can include services such as tenant screening, rent collection, and property maintenance + Property development: The company seldom generates revenue through property development too This can involve purchasing land, building properties, and then selling or leasing them Overall, the revenue model of NEWA group relies heavily on human resources, with great room and potential for incorporating AI technology into its operation systems at any levels 4 Business operation As NEWA group has many industries and different kinds of products, these are the overall business operation system of the all 7 company in NEWA system: 4.1 Business operation of mattress sectors This department is responsible for designing, testing, and manufacturing new mattress models They also work on improving existing products by incorporating customer feedback and new materials This department is responsible for promoting NEWA's products and generating sales through various channels, such as e-commerce 7 platforms, retail stores, and social media They also work on developing marketing campaigns and strategies to reach new customers This department is responsible for ensuring that customers are satisfied with their purchases and resolving any issues that may arise They handle customer inquiries, complaints, and returns This department is responsible for managing the flow of materials and products throughout the company's supply chain They work on sourcing materials, managing inventory, and coordinating transportation and shipping This department is responsible for managing the company's finances, accounting, and reporting, as well as ensuring smooth operation throughout the company They work on improving operational efficiency by automating processes, reducing waste, and improving customer service This department is responsible for generating leads, promoting properties, and closing deals with potential buyers, sellers, or tenants They work with a variety of marketing channels including digital advertising, social media, or events 4.2 Business operation of real estate sectors This department takes care of the day-to-day operations of rental properties, such as collecting rent, managing repairs and maintenance, and handling tenant requests They also perform tenant screening and lease administration This department is responsible for identifying and developing properties that have potential for investment, such as land acquisition, zoning, and construction They also work on improving the value of the company's current real estate assets This department is responsible for managing the company's finances, accounting, and reporting, as well as ensuring smooth operation throughout the company They also work on improving operational efficiency by automating processes, reducing waste, and improving customer service This department ensures that the company is compliant with all relevant laws and regulations, such as real estate laws, tax laws, and data privacy regulations They also handle disputes and legal matters that arise from the company's operations 4.3 Business operation of bird nest sectors 8 This department is responsible for harvesting bird's nests from natural and man-made structures and processing them into various forms such as dried nests or ready-to-use bird's nest products This department is responsible for ensuring the quality and safety of the bird's nest products before they are released for consumption They also work on developing and improving existing quality control standards as well as procedures This department is responsible for promoting and selling bird's nest products to various markets such as restaurants, traditional Chinese medicine shops, and direct-to-consumer channels They also work on developing effective marketing campaigns to reach new customers This department is responsible for conducting research to develop new bird's nest products and improve existing ones They also work on identifying potential markets for bird's nest products and developing new ways to enjoy them This department is responsible for managing the flow of materials and products throughout the company's supply chain They work on sourcing high-quality bird's nests, managing inventory, and coordinating transportation and shipping II Analysis 1 SWOT 1.1 Strengths Established player in the Vietnamese real estate market with a growing portfolio of high-end residential and commercial properties NEWA Mattress has a range of high-quality and affordable products that cater to the growing demand for comfortable bedding solutions NEWA Bird Nest has a reputation for producing high-quality bird's nest products that are popular in Asia due to their health benefits Experienced management team with a deep understanding of the local market and consumer preferences 1.2 Weaknesses Dependence on the Vietnamese market, which can be affected by economic, political, and regulatory risks 9 Limited international presence and brand recognition compared to established competitors in the industry Limited product diversification compared to other companies in the industry 1.3 Opportunities Expansion into new markets in Southeast Asia or other regions to increase market share Investment in research and development to enhance product offerings and improve customer satisfaction Potential for partnerships with other companies in the industry to create product synergies, expand reach, and diversify product offerings Growing demand for eco-friendly and sustainable products, which NEWA could cater to by incorporating more sustainable materials in mattresses and properties 1.4 Threats Increasing competition from not only established companies but also new entrants in the industry Economic instability and regulatory changes in Vietnam and other markets, which could impact consumer spending and demand Rapidly changing customer preferences and market trends,which could require NEWA to adapt its products and services to meet demand Supply chain disruptions caused by geopolitical events or natural disasters, which could impact the production and distribution of NEWA's products 2 Porter’s Five Forces The threat of new entrants in the mattress, real estate, and bird's nest industries in Vietnam can be considered relatively low These industries require high initial investments and substantial knowledge and expertise,which can act as barriers to entry However, there are still some smaller players that could potentially enter the market and compete with NEWA Group in the future The bargaining power of suppliers is low for NEWA Group, as it has established relationships with its suppliers and has a strong reputation in the market However, the availability and cost of raw materials,such as latex for mattresses and bird's nest for the bird's nest industry, can have an impact on the company's profitability 10 The bargaining power of buyers is high, as customers have many options to choose from in each of NEWA Group's industries This puts pressure on NEWAGroup to offer competitive pricing, high-quality products, and exceptional customer service in order to retain customers Threat of substitutes: The threat of substitutes is moderate, as there are alternative products available in each of NEWAGroup's industries For example, customers may choose to buy different brands of mattresses or options for synthetic bedding products However, NEWA Group's focus on high-quality, natural products helps it to differentiate itself from substitutes There is strong competition in all of NEWAGroup's industries from both local and international players In The mattress industry, for example, Kymdan and Everon are major competitors in Vietnam In the real estate industry,Vingroup and Sun Group are established players In the bird's nest industry, Yen Viet and PJ Company are major competitors.This makes it important for NEWA Group to continue to innovate and differentiate itself from competitors 3 Competitors 3.1 Kymdan Kymdan is a leading mattress brand in Vietnam that produces high-quality products with advanced technology Its mattresses are made with natural latex, which is known for its durability, comfort,and support Kymdan also uses advanced technology to produce its mattresses, such as the 3D VentilationSystem that promotes air circulation and reduces heat retention Kymdan's use of natural latex and advanced technology sets it apart from other competitors in the mattress industry Its reputation for producing high-quality, durable and comfortable products has helped it establish a loyal customer base in Vietnam 3.2 Novaland Novaland is a real estate developer that focuses on mid-end and high-end residential properties,with a growing portfolio across Vietnam Its projects are strategically located in prime areas and offer a range of amenities and facilities, such as gyms, swimming pools,and green spaces Novaland's portfolio of high-end residential properties and strategic locations give it a competitive edge in the real estate market Its focus on mid-end and high-end properties has helped it attract investors and buyers who are looking for quality properties in desirable locations 11 3.3 Yen Viet Company Yen Viet Company is a leading player in the bird's nest industry in Vietnam that offers high-quality products and services Its bird's nest products are made from 100% natural ingredients and are processed using advanced technology to ensure quality and safety Yen Viet Company's commitment to quality and safety sets it apart from other players in the bird's nest industry Its use of advanced technology in processing its bird's nest products has helped it establish a reputation for producing high-quality, safe and nutritious products These competitors offer their own unique features and advantages that set them apart from NEWA Group To remain competitive, NEWA Group may need to leverage its strengths and find ways to differentiate itself from these competitors For Example, it could focus on applying digital transformation into their accounting model, as NEWA Group is only a stage one enterprise in applying digital transformations into their companies III Recommendations NEWA Group uses an application which is called MISA in the accounting department, in which they used to record transactions of each company, recorded insurances, taxes and financial statements, created online bills and transactions and managed the quantities of products in the storage To outclass its competitors, NEWA Group can use digital transformation in the following ways: NEWA Group candevelop an omnichannel retail strategy that integrates its physical stores with its online platforms such as an e-commerce website and social media channels This will enable the company to offer a seamless shopping experience to customers, regardless of their preferred channel NEWA Group can use customer data to personalize marketing efforts,providing targeted promotions and recommendations based on customer preferences and purchase history This can help to improve customer engagement and drive sales NEWA Group can leverageautomation technology such as chatbots, automated ordering and payment processing systems to streamline operations and improve the customer experience This 12 helps to reduce waiting times for customers and increase efficiency in the ordering process NEWA Group can implement AR and VRtechnologies to provide customers with immersive and interactive experiences of its products This can help to increase engagement and improve the customer experience NEWA Group can use blockchaintechnology to improve the security and transparency of its supply chain, providing customers with assurance that its products are authentic and ethically sourced By leveraging these digital transformation solutions, NEWA Group can differentiate itself from other competitors, differentiate its products and services, and offer a superior customer experience.This can help to increase customer loyalty and retention, drivesales, and ultimately outclass other competitors IV Implementation 1 Planning 1.1 Develop an omnichannel retail strategy Developing an omnichannel retail strategy can take anywhere from a few months to a year, depending on the complexity of the strategy It will involve researching and identifying customer needs, evaluating existing systems and processes, and developing a comprehensive plan for integrating and optimizing channels Implementing an omnichannel retail strategy will require a significant investment in technology, systems, and personnel It may also require changes to existing processes and workflows, and training for employees 1.2 Utilize customer data to personalize marketing efforts Implementing a data-driven personalization strategy can take several months to a year, depending on NEWA's existing data infrastructure and capabilities It will involve gathering and analyzing customer data, identifying customer segments, developing personalized content and offers, and integrating the personalization strategy with existing marketing channels Implementing a data-driven personalization strategy will require investment in data analytics tools, customer relationship management systems, and marketing automation software It may also require hiring data scientists, analysts, and other personnel with expertise in data management and analysis 13 1.3 Leverage automation technology Time: Implementing automation technology can take several months to a year, depending on the complexity of the automation It will involve identifying areas where automation can provide value, selecting and configuring the appropriate tools, integrating the tools with existing systems and processes, and training employees on how to use the tools Implementing automation technology will require investment in automation tools, such as robotic process automation (RPA) software, chatbots, and other AI-powered tools It may also require hiring automation specialists and other personnel with expertise in automation and AI 1.4 Implement augmented reality (AR) and virtual reality (VR) technologies Implementing AR and VR technologies can take several months to a year, depending on the complexity of the technology It will involve identifying use cases for AR and VR, selecting and configuring the appropriate tools, integrating the tools with existing systems and processes, and creating content and experiences that leverage AR and VR Implementing AR and VR technologies will require investment in AR and VR hardware and software, such as headsets and development platforms It may also require hiring AR and VR developers and other personnel with expertise in creating AR and VR content and experiences 1.5 Use blockchain technology Implementing blockchain technology can take several months to a year, depending on the complexity of the implementation It will involve identifying use cases for blockchain, selecting and configuring the appropriate platforms and protocols, integrating blockchain with existing systems and processes, and training employees on how to use blockchain Implementing blockchain technology will require investment in blockchain platforms and protocols, as well as infrastructure such as nodes, wallets, and smart contracts It may also require hiring blockchain developers and other personnel with expertise in blockchain development and integration 2 Implementing 2.1 Omnichannel retail strategy An omnichannel retail strategy requires NEWA Group to provide a seamless and consistent customer experience across all of its channels To implement this strategy, the company should start by auditing its existing channels, such as its 14 website, mobile app, social media accounts, and physical stores This audit should identify any areas where the customer experience can be improved, such as slow load times, confusing navigation, or inconsistent branding Next, the company should prioritize the channels that are most important to its target audience and focus on integrating those channels For young adults, prioritize mobile apps and social media channels On the other hand, for older adults, focus on improving its website and in-store experience To integrate channels, NEWA Group should ensure that its inventory management, order fulfillment, and customer service processes are consistent across all channels For example, if a customer places an order on the website and wants to return it in-store, the company should have processes in place to handle the return seamlessly Similarly, if a customer contacts customer service through social media, the company should have a process for responding quickly and resolving the issue 2.2 Personalize marketing efforts Personalized marketing efforts require NEWA Group to gather and analyze customer data to identify patterns and trends To implement this strategy, the company should start by identifying the types of data it wants to collect, such as demographic data, purchase history, browsing behavior, and social media activity This data can be collected through various channels, such as the company's website, mobile app, social media accounts, and email marketing campaigns Once the data has been collected, the company can use analytics tools to analyze the data and identify patterns and trends For example, the company might identify that customers who purchase a certain product are more likely to also purchase another product Based on this data, the company can create targeted marketing campaigns that are tailored to individual customers' preferences and interests To create personalized marketing campaigns, the company can use a variety of tools and techniques, such as email personalization, targeted ads, and customized product recommendations These campaigns should be designed to provide a relevant and personalized experience for each customer, which can lead to increased customer engagement and loyalty 2.3 Automation technology Automation technology involves using software and tools to automate manual processes and tasks To implement automation technology, NEWA Group should start by identifying the processes and tasks that are most time-consuming and labor- 15 intensive This might include order processing, inventory management, or customer service inquiries Once the processes and tasks have been identified, the company can evaluate automation tools such as chatbots, workflow automation tools, or machine learning algorithms For example, a company might implement a chatbot to handle customer service inquiries, which can reduce the workload on human customer service representatives and provide faster response times for customers To implement automation technology effectively, the company should ensure that its employees are trained to use the tools and that the tools are integrated with the company's existing systems and processes This can help to ensure that the automation tools are used effectively and that they provide the expected benefits, such as increased efficiency and reduced costs 2.4 Augmented reality (AR) and virtual reality (VR) Augmented reality (AR) and virtual reality (VR) technologies can provide engaging and interactive experiences for customers To implement AR and VR technologies, NEWA Group should start by identifying how these technologies can enhance the customer experience This might involve creating virtual product demos, offering virtual try-on for clothing or makeup, or creating immersive in-store experiences Once the use cases for AR and VR have been identified, the company can work with developers and designers 2.5 Blockchain technology implementation Blockchain technology is a decentralized digital ledger that can be used to store and verify data in a secure and transparent manner To implement blockchain technology, NEWA Group should start by identifying the use cases where it can provide value This might include supply chain management, payment processing, identity verification, or data sharing Once the use cases have been identified, the company can evaluate blockchain platforms and protocols to determine which one is the best fit for its needs The company should consider factors such as scalability, security, and interoperability when evaluating blockchain platforms To implement blockchain technology effectively, the company should ensure that its employees are trained on the technology and that it is integrated with the company's existing systems and processes The company should also ensure that it has the necessary infrastructure in place, such as nodes, wallets, and smart contracts One of the key benefits of blockchain technology is its ability to provide a secure and transparent way to verify transactions and data This can help to reduce 16 fraud, increase efficiency, and improve trust between parties For example, a company might use blockchain technology to track the provenance of goods in its supply chain, which can help to ensure that products are ethically sourced and produced Another benefit of blockchain technology is its ability to facilitate peer-to-peer transactions without the need for intermediaries such as banks or payment processors This can reduce transaction fees and increase speed and efficiency For example, a company might use blockchain technology to facilitate payments between suppliers and customers, which can reduce costs and improve cash flow 3 Risk forecasting 3.1 Cost The expenditure for buying or equipping state-of-the-art machines or devices can be extremely expensive for a company's budget Besides, the investments in creating training courses with an aim to adapt these AI transformations and expense for inviting specialized trainers or mentors could be a dilemma 3.2 Cybersecurity With the explosion of digital technologies, there is a problem about security of financial transactions due to the overdependence on network websites and computerized systems This triggers the looming cybersecurity threats in transaction activities that all employees have to be trained to recognize and brainstorm the solution on time Moreover, companies should provide AI-based cybersecurity solutions for major financial institutions that are increasing in number and reach 3.3 Disadvantages of Blockchain Firstly, one of the biggest drawbacks of blockchain technology is that it can be challenging to scale due to the fixed size of the block for storing data Blockchain networks consume a huge amount of energy due to the computational power required to verify and process transactions Finally, the legality of using blockchain technology can be a problem, as some government regulations do not yet recognize it as a legitimate form of record-keeping V Conclusion In this day and age, SMEs have a profound influence in national economies on a global scale, generating employment and contributing to innovation The insight of this research provides a conceptual framework to support digital transformation as well as Artificial Intelligence (AI) into the NEWA Group – a SME in Vietnam, which has never been applied before 17 There comes to conclusion that NEWA Group is aware of tremendous benefits when adopting top-notch technology as well as its strengths and opportunities in the marketplace However, being the “newborn” in the industry, some factors consisting of weak position, organization's size, low brand recognition, low skill level of employees, are those considerable barriers to adopt digital transformation and AI into this enterprise Despite the scenario of having customized solutions that meet the requirements of NEWA Group, this company still needs to take advantages by deeply understanding its strategies and implementations to overcome those obstacles Hence, we suggest that NEWA Group should consider the feasibility of modern platforms and mechanization to apply into its activities such as omnichannel retail, blockchain, augmented reality (AR) and virtual reality (VR), and so on With the aim of improving the efficiency and effectiveness in terms of organizational performance, NEWA Group should carefully select and be consistent with the company's own orientation rather than being arbitrary Especially for a SME that does not have a strong foothold in the market like Newa Group, it is even more struggling to think deliberately when there are many high demands when applying digital transformation and artificial intelligence (AI), including the expenditure for equipping state-of-the-art machines or devices can be extremely expensive for a company's budget in this modernized 4.0 era today VI Group member assessment GROUP MEMBER EVALUATION FORM Full name Assigned task Complete Self- Group performance assessment assessment Trần Phạm - Section IV: Planning Anh Duy and implementing (leader) - Section VII: Observe 100% 5 5 Trello Nguyễn - Section I: Overview 100% 5 5 Quang Đạt of NEWA Group Nguyễn - Section V: Write the Ngọc Thảo conclusion Nguyên - Check the content 100% 5 5 and format the essay Nguyễn - Section II: Conduct a 100% 5 5 18 SWOT and Porter Five Force of NEWA and Quang Phát analyze conpetitors - Section III: Make recommendations Lê Phương - Section IV: The risks Thảo forecasting 100% 5 5 - Synthesize the essay VII Trello Our Trello link: https://trello.com/invite/b/i5aaccoj/ATTI1d726dc79836edca48cc7fabbd4740ec41F8E F53/final-project 19