INTERNSHIP REPORT KBL VIETNAM LIMITED COMPANY

VIETNAM UNIVERSITY OF COMMERCE ENGLISH DEPARTMENT - - INTERNSHIP REPORT Internship place: KBL VIETNAM LIMITED COMPANY Student: Pham Thi Thu Thuy Class: K50N7 Student Code : 14D170468 Hanoi - 2018 TABLES OF CONTENTS TABLES OF CONTENTS i INTRODUCTION .ii LIST OF ABBREVIATIONS iii LIST OF TABLES AND DIAGRAMS iv PART I: AN OVERVIEW ABOUT KBL VIETNAM CO., LTD 1.1 General introduction about company 1.2 Process of formation and development 1.3 Core value 1.4 Organizational structure .2 1.5 The services provided by KBL VIETNAM CO., LTD 1.5.1 Consultancy 1.5.2 Supporting 1.5.3 Head-hunting 1.6 Company Culture 1.7 Target Customer 1.8 Vietnam market 1.9 Business situation analysis PART II: INTERNSHIP DESCRIPTION 2.1 Specific task and responsibility 2.1.1 Translation 2.1.2 Interpreting 2.1.3 Accounting support 2.2 Difficulties and experience learned from the internship 2.2.1 Difficulties from the internship .7 2.2.2 Experience learned from internship .8 PART III: THE USE OF ENGLISH IN REALITY AT KBL VIETNAM LIMITED COMPANY 3.1 The use of English in reality .9 3.2 Recommended solutions to improve English skill for employees working at KBL Vietnam 10 PART IV: TOPIC TO STUDY 11 CONCLUSION 12 i INTRODUCTION We are living in a global world and Vietnam has entered the period of renewal The wave of FDI enterprises invest in Vietnam has increasing rapidly This is not only a big opportunity but also a hard challenge for Vietnam when going global A number of foreign enterprises in Vietnam have increased implementing the needs for high quality of human resource English is one of the most important strengths for candidates to impress the employers Working in a professional environment with foreigners in the field of investment consultancy, finance analyzing requires employees to make use of language skills in a high level Being allowed by English Department – Vietnam University of Commerce, I have gratefully experienced as an intern in KBL Vietnam Limited Company After one month (from 02/01/2018 to 26/01/2018), under the valuable support and instruction of managers and colleges in the company, I was able to apply the knowledge obtained at university into practice, meanwhile collecting basic information to complete the internship report I would like to express my gratitude towards teachers at English Department – Vietnam University of Commerce as well as my managers and colleges in KBL Vietnam I look forward to receiving comments and suggestions in order to perfect the paper Hanoi, February 20, 2018 Student Pham Thi Thu Thuy ii LIST OF ABBREVIATIONS - Co., LTD VND No CEO FDI Limited Company Viet Nam dong Number Chief Executive Officer Foreign Direct Investment iii LIST OF TABLES AND DIAGRAMS No Name Diagram Table Content KBL Vietnam Limited Company’s organizational structure Business results of KBL Vietnam Limited Company in three recent years iv Page 12 PART I: AN OVERVIEW ABOUT KBL VIETNAM CO., LTD 1.1 General introduction about company - Name: KBL Vietnam Limited Company - Head office: 10th floor, SUDICO HH3 Building, Me Tri Road, My Dinh Ward, Nam Tu Liem District, Hanoi, Vietnam - Branch office: Room 3A01 Empress Tower, 128-142 Hai Ba Trung Street, DaKao Ward, District 1, Ho Chi Minh City, Vietnam - Tax code: 0104101718 1.2 Process of formation and development - The company was established under Decision No 0104101718 on 11 August, 2008 The chartered capital was 20 000 000 000 VND - Chief Executive Officer is Mr An Young Hee - The company has been operating for 10 years and has reached many achievements More and more partners put their trust in KBL and look forward to continuing co-operate in the future 1.3 Core value KBL VIETNAM CO., LTD is a FDI (Foreign Direct Investment) company with 100% capital invested by Korean The company has been developing strongly, rebranding swiftly, gaining trust and receiving appreciation from domestic and foreign partners Especially, the company has had a chance to co-operate with important partners like Samsung, Lotte, Hansol, etc The experience of working with those big co-operations drives the company towards The trust comes from partners is the key to help company growing more strongly and building sustainable development 1.4 Organizational structure Diagram 1: KBL Vietnam Limited Company’s organizational structure CEO Deputy Director General Manager Head-hunting Department Consulting Department Supporting Department Accounting Department - Mr An Young Hee is the founder, the CEO, and also the main shareholder of the company - Mr Kim Young Seok is the deputy director - Mrs Vu Ngoc Mai is general manager Roles and functions of each department in the company - CEO: To exercise the rights and duties assigned in accordance with the provisions of the Enterprise Law 2005, relevant laws - Deputy director: To support the CEO all the duties, setting up a business plan, finding out and analyzing the market, building customer incentives, seeking markets and developing sales activities to potential clients - General manager: To identify objectives, works and estimated resources needed to implement the project; manage activities of all departments; seeking markets and developing sales activities to potential clients - Head-hunting Department: Security for corporate human resources are managed and used effectively, to advise and assist the CEO of the organization and personnel, labor, wages, emulation reward, inspection, security and defense, legal Also finding candidates as requested of the customer - Consulting Department: Investment and business establishment consultancy; business management consultancy in accounting, audit, commerce - Accounting Department: To advise the company's leaders in the field of administrative operations and financial accounting of the company, advise orientations and measures, regulation of financial management, implementation the financial decisions of directors and implementation of accounting work effectively and economically, avoid waste, regulations, regimes under the current regulations - Supporting Department: To support the foreign labors working in Vietnam in visa-applying, visa-extension, work permit, residence card 1.5 The services provided by KBL VIETNAM CO., LTD 1.5.1 Consultancy KBL Vietnam Limited Company with 10 years in field of consultancy Consulting team members have pledge to serve the customers with all the cares With such areas like: - Investment consultancy Business establishment consultancy Audit consultancy Marketing consultancy Tax consultancy KBL Vietnam is one of the top-qualified companies in consultancy in Hanoi The company has been providing consultancy service for foreign organizations, businesses and individuals with quality assurance, with quick speed and ensured optimum cost With such top quality, customer service processes and professional attitude, KBL Vietnam has successfully implemented many projects and has become a trusted consulting services prestige and credibility with the domestic organizations and enterprises as well as abroad ones 1.5.2 Supporting KBL Vietnam has supported many foreigners working in Vietnam in setting up paperwork and settling down when they have not been familiar with life pace in Hanoi yet Some areas are requested the most in supporting can be listed as: - Visa-applying support Visa-extension support Paperwork translation Immigration procedures support - Residence card - Work permit Many foreign labors have put their trust in KBL Vietnam in helping them to prepare for a convenient life in Hanoi It is the big motivation for the supporting team members to serve better and better 1.5.3 Head-hunting Many partners came to KBL Vietnam to find a support in finding candidates working for their companies With all the trust from the partners, KBL Vietnam has been trying to be the prestige place, a trusted link between employees and employers 1.6 Company Culture Over 10 years of operation, the company has built for itself a culture characterized KBL, namely: - Each colleague is a friend, a relative Sharing difficulties at work Sharing puzzling issues in life All members behave sincerely, closely as family members Each member as long adhered to know each other more and more 1.7 Target Customer Being organized by a Korean CEO – Mr An Young Hee, KBL Vietnam defines the target customers are Korean enterprises which want to invest in Vietnam and support them to complete administrative procedures Mr An Young Hee understand how a Korean company is organized and also the Korean working style This is a big advantage of KBL Vietnam when competing with others companies in the same field Koreans attach much importance to culture, ritual They are also famous for being strict about work It is required that the employees need to be smart, careful and creative when dealing with Korean customer KBL Vietnam had a chance to co-operate with many famous Korean enterprises like Samsung, Lotte Department Store, Hansol, Imaxis Digital Studio, etc Working with big enterprises helps KBL Vietnam to gain more experience and to perform better in the future Service is a strict area that needs to be really careful and considerate To serve the customer perfectly is the goal that every service company wants to achieve 1.8 Vietnam market Vietnam is the country that the company was founded and is the main market of KBL Vietnam In Vietnam, the company has two main offices in Hanoi and Ho Chi Minh City With the huge amount foreign enterprises invest in Vietnam, we can see that the demand for consulting is growing With professional, experienced and numerous staff and collaborators, KBL Vietnam is a reliable provider for many foreign organizations, agencies and businesses in the country The company has provided consulting services with high quality to many agencies in many areas Some prominent customers of the company can be listed as: Samsung, Continental 72 Landmark Hotel, Lotte Department Store, Hansol Co., Ltd, Emart Mall, and a lot of agencies and other organizations 1.9 Business situation analysis Business results of KBL Vietnam Limited Company in the three recent years are shown in the following table: No 01 02 03 04 05 06 07 08 09 10 11 12 Criteria 2014 Revenue from providing 10.661.986.265 services Net revenue services 10.661.986.265 Cost of goods sold 8.375.196.755 Gross profit from 2.286.789.510 services (04 = 02-03) Enterprise Management 186.013.956 Cost Net profit from 2.100.775.554 operations (06 = 04-05) Other income 40.471.548 Other costs 29.454.854 Other profits (09 = 0711.016.694 08) Total profit before tax 2.111.792.248 (10 = 06 + 09) Current enterprise 402.389.584 income tax expense Profit after tax 1.709.402.664 (12 = 10-11) 2015 2016 11.137.488.376 12.538.146.209 11.737.488.376 13.538.146.209 8.506.417.332 9.351.895.106 2.631.071.044 4.186.251.103 201.406.923 360.647.356 2.429.664.121 3.825.603.747 37.387.429 27.275.105 36.147.875 26.152.908 10.109.324 9.994.967 2.439.773.445 3.835.598.714 426.718.390 685.517.228 2.013.055.055 3.150.081.486 Table 2: Business results of KBL Vietnam Limited Company in three recent years (Source: Finance reports from KBL Vietnam Limited Company) Over the business results of the company, we can see that the company's revenue has continued to increase over the years Especially, the company’s revenue in 2016 was 3.1 billion, which was 1.5 times higher than those of 2015 Therefore, the revenue rose to more than 12 billion shows that business activity of KBL Vietnam is now growing more and more PART II: INTERNSHIP DESCRIPTION 2.1 Specific task and responsibility The target customer of KBL Vietnam is foreigner So that dealing with customers and preparing paperwork in English are important parts every employee needs to know With the valuable support and instruction of managers and colleges in the company, I was able to apply the knowledge obtained at university into practice This is one of the most important experiences that will help me to complete myself and be able to apply for the future job 2.1.1 Translation KBL Vietnam has to deal with much paperwork from foreigners every day These are contract, certification, work permit, designation, etc I translated the paperwork from English into Vietnamese and vice versa 2.1.2 Interpreting The target customer of KBL Vietnam is foreigner Therefore English is a link that helps everyone to connect with each other My main work was interpreting for the Koreans, supporting them in making a consultancy and law business 2.1.3 Accounting support I helped to support accounting department in arranging paperwork, preparing invoice in English to send to customer and calculating service fee correctly 2.2 Difficulties and experience learned from the internship 2.2.1 Difficulties from the internship While being an intern working at KBL Vietnam, I had got valuable support and instruction of managers and colleges in the company But I could not avoid getting some difficulties in the work due to the lack of experience These difficulties not only did not make me feel disappointed but also help me to keep trying more and more - In the first day of being an intern, I took the responsibility to translate the background check (criminal records) certificate of the foreign customers from English into Vietnamese I got some trouble in facing with legal terminology Because my major is Business English, it is not easy for me to translate legal paperwork perfectly But then I got the supports from my manager – Mr Nguyen Xuan Bach, head of Consulting Department I could not finish the internship well without his encouragement and advice - Being an interpreter, I also got some difficulties while interpreting from English into Vietnamese for Korean customers The accent of Korean people speaking English is quite hard to understand It made me a while to recognize all the words the customer said Working with Korean customers more and more helped me to get over this difficulty quickly when I got familiar with it - This is the first time I had ever worked in a professional office, so that it is not easy for me to use all the equipment like printer, scanner, cash register, etc competently However, I was guided by my managers and colleges and now it is no longer the difficulty for me 2.2.2 Experience learned from internship I have learned so many things from being an intern working at KBL Vietnam These valuable experiences will be the firm foundation for me to keep moving on in the future career ladder - As a translator, I had a chance to level up the vocabulary The paperwork I had to translate all related to law, business and accounting Dealing with these terminologies helps me to expand the vocabulary and to apply pragmatics in theory into reality - As an interpreter, my reacted skill had been improved in a higher level I learned how to deal with foreigners in the right way It also helped me in improving listening and speaking skill - Though accounting is not my major, working as an accounting supporter is a big experience for me to learn how to deal with numbers Nowadays, employers are looking for an individual who can take more than just one task at work I believe that experience I got from being an accounting supporter will be the advantages for me to enhance with the future employers PART III: THE USE OF ENGLISH IN REALITY AT KBL VIETNAM LIMITED COMPANY 3.1 The use of English in reality Nowadays, English has become the global language Among hundreds of different languages, the world has chosen English as a means for people to understand each other English is the official language of 53 countries and territories, the official language of the EU and the third widely used language after Chinese and Spanish The international events like the Olympics, global organizations, multinational companies consider English as common language of communication This shows the importance of English in all fields of economy, culture, society, etc By defining the target customer is foreigner, it is necessary for KBL Vietnam to dealing with customer in English All language skills must be competent It is compulsory for all employees working in KBL to know English They have to deal with customer, to interpret, to prepare paperwork all in English These transactions are primarily related to orders, negotiation and payment English proficiency of the employees who perform transactions is very high The fact that all employees need to deal with foreign customers in English requires the usage of English in company is very necessary However, the English level of employees is not equal In department such as consulting where all employees use English to consult with customers, all four English skills are used in a high level But others department like head-hunting or accounting where employees not need to communicate directly with foreign customers, English skills of employees are not really good It is the unbalance between the English standard of employees working at KBL Vietnam Most employees working in consulting department have to use English at a professional level to giving advices to customer about business, law, tax, etc It is not difficult to understand why candidate apply for a position in consulting department is required to have IELTS certification with the point at least up to 6.5 On the contrary, employees working in accounting department deal with numbers mostly They not have much chance to communicate with foreigners It leads to the fact that not so many employees in accounting department can use English well Candidate applying for a position in accounting department does not have to face with English Entrance Test or is required to have a professional English certification Accountants only can deal with easy English structure with no specific terms Therefore it is not difficult to understand why the English skill between different departments is not equal 3.2 Recommended solutions to improve English skill for employees working at KBL Vietnam To improve English skill for employees, KBL Vietnam Limited Company may consider the following solutions: - Organizing an English course for employees who are in need of improving their skills - Creating more opportunities for employees to communicate with foreigners directly - Increasing the salary for employees who pass the English Entrance Test It will be the motivation for the others to improve English - Employees who are good at English should make a plan to support those who are worse 10 PART IV: TOPIC TO STUDY Subject: A study on translation of typical terms used in labor law from Vietnamese into English Labor is the most important activity of human being creating both material products and social values High labor productivity, quality and efficiency are significant factors which determine the level of development of a country Being an intern working in KBL Vietnam is a valuable experience for me to get a chance working with labor contract and legal certificate Therefore, I put forward a subject to study about typical terms used in labor law from Vietnamese into English This is a subject relating much to my internship and I suppose that I can finish it well 11 CONCLUSION The business motto of KBL Vietnam Limited Company depends on the trust, sincerity and progressiveness Training managers and technical staffs who are competent, professional, dynamic, creative and highly adaptable is the key for KBL Vietnam to accomplish the goal of becoming a strong company with adequate capital capabilities, human resources and technologies to diversify the business activities During one month doing the internship as an office staff at KBL Vietnam, I possessed the a opportunity to apply the knowledge obtained at university into reality and learn more about styles, attitudes, methods of working, communication in business environment, generating valuable experiences that helps me give out the clear direction for my future career Through my experiences obtained during the one-month internship and my knowledge background, I conducted this report in order to figure out some existing problems at the company I hope that it would contribute to the company’s development in the future I would love to give my sincere thanks to all managers and colleges at KBL Vietnam Limited Company for helping me to accomplish this report Hanoi, January 27, 2018 Student Pham Thi Thu Thuy 12 ... results of KBL Vietnam Limited Company in three recent years iv Page 12 PART I: AN OVERVIEW ABOUT KBL VIETNAM CO., LTD 1.1 General introduction about company - Name: KBL Vietnam Limited Company. .. results of KBL Vietnam Limited Company in three recent years (Source: Finance reports from KBL Vietnam Limited Company) Over the business results of the company, we can see that the company' s... goal that every service company wants to achieve 1.8 Vietnam market Vietnam is the country that the company was founded and is the main market of KBL Vietnam In Vietnam, the company has two main