INTERNSHIP REPORT GoldTrans joint stock company

TABLE OF CONTENTS INTRODUCTION ii LIST OF TABLES AND DIAGRAMS LIST OF ABBREVIATIONS iii iv CHAPTER I OVERVIEW ABOUT GOLDTRANS JOIN STOCK COMPANY AND IMPORT-EXPORT DEPARTMENT 1.1 Information about GoldTrans Join Stock Company 1.1.1 General introduction .1 1.1.2 History of formation and development 1.1.4 Major business service: 1.1.5 Business results in the period of 2017-11/2019 .6 1.2 Import-export Department .7 1.2.1 Organizational structure of the department .7 1.2.2 Functions and responsibilities of the position CHAPTER II GENERAL INTRODUCTION ABOUT THE INTERNSHIP IN GOLDTRANS JSC 2.1 Assigned task during the internship .9 2.1.1 Welcoming foreign partners 2.1.2 Supporting managers to translate documents, assist in writing commercial correspondences 2.2 Challenges and experience during the internship 10 CHAPTER III THE REALITY OF ENGLISH USAGE IN GOLDTRANS JSC 13 3.1 The English usage in GoldTrans JSC 13 3.2 Proposing research problem 14 3.2.1 Existing problems in company’s human resources 14 3.2.2 Proposing research problem 14 CHAPTER IV PROPOSING THE TOPIC OF GRADUATION THESIS 16 CONCLUSION 17 i REFERENCES 18 INTRODUCTION This internship report has been prepared for the internship that has been done in GoldTrans Joint Stock Company in order to study the practical aspect of the course and implementation of the theory in the real business world The aim of this internship is to be familiar to the practical aspect and using theoretical knowledge and clarifying the career goals So I have successfully completed the internship and complied this report as the summary and conclusion that have drawn from the internship experience Being recommended and allowed by English Department – Thuongmai University, I have gratefully experienced as an intern in import-export department of GoldTrans Joint Stock Company After one month (from 20/12/2019 to 20/01/2020), under the valuable support and instruction of managers and fellows in the company, I enabled 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 toward teachers at Faculty of English – Thuongmai University as well as my managers and colleagues in GoldTrans Join Stock Company for giving me some instructions to complete the internship report and their precious lectures through which I have acquired much in knowledge, methodology and techniques Because of the limited practice time, also limited skills, the report is certain to have some mistakes I look forward to receiving comments and suggestions in order to perfect my internship report HaNoi, February 05, 2020 Student Nguyễn Duy Đức ii LIST OF TABLES AND DIAGRAMS No List Image 1.1 Diagram 1.1 Table 1.1 Diagram 1.2 Content Page Logo of GoldTrans Joint Stock Company Organizational structure chart of GoldTrans Joint Stock Company Revenues of exxporting merchandisess in GoldTrans Joint Stock Company Organizational structure chart of import-export department iii LIST OF ABBREVIATIONS No Abbreviated words Full phrase JSC JOINTt Stock Company GoldTrans Công ty giao nhận vận tải Vàng iv CHAPTER I OVERVIEW ABOUT GOLDTRANS JOINT STOCK COMPANY AND IMPORT-EXPORT DEPARTMENT 1.1 Information about GoldTrans Joint Stock Company 1.1.1 General introduction English trade name : GoldTrans Joint Stock Company Tax code : 0106720456 Address : 3rd Floor, B17 / D21 Cau Giay New Urban Area (No 7, 82 Alley, Dich Vong Hau Street), Dich Vong Hau Ward, Cau Giay District, Hanoi 5th floor, TTC building, 630 Le Thanh Tong, Hai Phong, Vietnam 4th Floor, Vietphone Office Building, 64 Vo Thi Sau, Yen The, Tan Dinh Ward, District 1, Ho Chi Minh City No 85, 5/8 street, Kalong Ward, TP TP Cái Quảng, Quảng Ninh Legal representative : Nguyen Thi Hoa Licensing day : 19/12/2014 Operating day : 19/12/2014 Phone : 0242008555 Fax : (84-240) 3558720 Email : Goldtrans.JSC.vn 1.1.2 History of formation and development GoldTrans Joint Stock Company was founded in february 2014 with the main business line "specializing in packaging and transport service” at domestic market At the beginning time, GoldTrans had mainly concentrated on its strength such as handling customs clearance, transportation and distribution for many import-export companies in Domestic Area such as Toshiba, In 2015, The company set foot into import and export merchandises such as: equipment, machinery electrical, electronics, information technology, mechanics, medical equipment, tools… Main import markets: Japan, Korea, and China Main export markets: Philippine, Myanmar Image 1.1 Logo of GoldTrans JSC The total investment capital of years is over VND 150 billion, ensuring regular jobs for 45 long-term workers and over 20 seasonal workers Directorin building facilities, technological Up to now, the company has invested innovation and automation of the entire production line in provinces: Ha Noi, Hai Phong, Ho Chi Minh city, Quang Ninh, successfully built a strong brand of GoldTrans, developed sustainably in Logistic field Company Secretary Deputy Director Marketing & Risk Department Sales Department Import-Export Department 1.1.3 Organizational structure Information Technology Department Accounting and Finance Department Administrative Department Diagram 1.1: Organizational structure chart of Gold Trans JSC  Director: Board of directors is responsible for the whole operation of the company such as establishing organizational structure, recruiting, supervising employees, and implementing of the plan such as marketing, sales, customer service, finance, import and export Board of directors has responsibility to continue progression in all aspects of the business in terms of product quality and operations through training and managing  Deputy director: The deputy director has power to lead and manage the departments of the company and support, advise director when giving decisions Deputy director also oversees the preparation of the annual report and accounts of the business and ensures their approval by the board  Company Secretary: The secretary has responsibility to support CEO as well as Board of directors including in: answering calls, taking messages, handling correspondence, arranging appointments, and managing databases In addition, the secretary also organizes and services meetings (producing agendas and taking minutes)  Marketing & Risk Department: The marketing & risk department takes responsibilities for conducting campaign management for marketing initiatives to remove risks of the company, producing marketing and promotional materials, creating content providing search engine optimization in the website, monitoring and managing social media, conducting customer and market research to define target markets, overseeing outside vendors and agencies  Import-Export Department: The import – export department has an obligation to consult the clients regarding insurances, duties and taxes, monitor the activities of shipments to secure the compliance of regulations, maintain customer relations and participation in the organization's sales activities, assess new marketing and sales opportunities as well as presentation of those estimations to the respective managements, secure the efficiency of imports and exports  Information Technology (IT) Department: The information technology is in control of the architecture, hardware, software and networking of computers in the company The IT department works with business executives to develop an IT strategy that supports the company’s business objectives and helps build a strong competitive advantage The department develops and operates a network to support effective communication and collaboration The IT team develops solutions that allow external organizations, such as customers and supply chain members, to securely access the corporate network The IT teams must protect the IT infrastructure and corporate data against attacks from viruses, cybercriminals and other threats  Accounting and Finance Department: The accounting and finance department is to manage, control and account the flow of money, the enterprise’s income and expenses Moreover, the department is to handle tax issues, prevent fraud, provide information for management and secure compliance to applicable statutes, regulations and international financial reporting standards  Administrative Department: The administrative department is to enhance the office staff’s ability to manage and organize office effectively and professionally, develop an appropriate office management strategy, improve an appropriate assets management strategy and control administrative budget 1.1.4 Major business service: + Services of sea transport, air transport, domestic transport + Road passenger transport other + Buying and selling appliances, equipment, machinery electrical, electronics, information technology, mechanics + Purchase and sale of chemicals (except for banned chemicals), comestic + Trading in medical equipment, tools + Service of installing scientific, electronic, automation and mechanical equipment + Agents buy, sell, sign goods + Import and export commodities trading company 1.1.5 Business results in the period of 2017-11/2019 Figures in: VND Criterias Gross revenue Net revenue Cost of goods sold Gross profit Sales expenses General and administrative expenses Operating profit Income from financial activities Expenses for financial 2017 32,182,624,961 32,182,624,961 25,340,451,836 6,842,173,125 2,902,710,903 2018 41,007,529,517 41,007,529,517 36,160,381,430 4,847,148,037 3,438,629,096 11/2019 52,505,703,827 52,505,703,827 47,107,129,615 5,398,57,421 3,864,214,506 2,702,892,288 4,367,680,306 4,752,595,955 1,236,565,937 3,004,161,635 3,883,893,955 1,219,074,876 4,761,404,657 4,989,217,353 1,364,015,259 881,782,425 995,247,222 activities Profit before taxes 716,795,287 875,096,917 1,105,323,398 Income taxes 179,189,821 218,774,229 276,330,849 Profit after taxes 537,569,499 665,355,311 988,992,563 Table 1.1: Revenues of selling machandisesin foreign markets (Source: Accounting and Finance Department) The company's net revenue increased very rapidly in the three years from 2017 to 11/2019: from the total revenue of 2017 was VND 32,182,624,961 to VND 52,505,703,827 in 2019, an increase of VND 20,323,078,866 The business situation of the company is effective, revenue increases year by year The purchasing power of the market increases, the product consumption range of the company is large, these company's business strategies are reasonable, increasingly creating trust in consumers In 2018 and 2019, the business situation of the company was not good Profit from business activities in 2018 was VND -3,004,161,635, in 2019 (couted to november) was VND -3,883,893,955 however the profit of the company has increased steadily over the years Through the above figures, we can see that the company has applied many measures to increase sales, increase profits, stabilize the development of the company in the context of fierce competition Over the past and present years, GoldTrans JSC has been constantly researching and improving to export products to foreign market 1.2 Import-export Department 1.2.1 Organizational structure of the department Purchaser Import-export Manager Docs staff Diagram 1.2: Organizational structure chart of import-export department 1.2.2 Functions and responsibilities of the position  Import-export manager: In import-export department, import-export manager supervises the activities and import-export staffs Import-export manager directly give plans or directions of the department, implements the strategies of head of boards and divides it to other employers Besides, import-export manager entrusts purchaser and documentations staff with some documents or strategies, often held various meetings or minutes to evaluate and confirm assignments, keep a contact with some partners of the business  Purchaser: Purchasing is the department in charge of input for the importing company The purchaser has the following duties:  Search, evaluate and select the most suitable foreign/domestic supplier to purchase raw materials and inputs for the company's import activities;  Supervise, implement of closing orders, signing contracts to buy goods on both sides;  Make international payments to foreign beneficiaries;  Meet and deal with foreign supplier partners;  Combine with domestic sales to update sales situation to plan purchasing, new orders from suppliers on schedule to ensure sufficient goods  Documentations – Docs staff:  Check shipment import documents Plan customs clearance, pay taxes, and coordinate with forwarder to clear shipments;  Working with forwarders to arrange the release of goods, dispatching domestic goods to the warehouse (trucking);  Track the progress of imported goods and support domestic sales on debts, domestic bills, and money collection plans Support accounting department in the profession CHAPTER II GENERAL INTRODUCTION ABOUT THE INTERNSHIP IN GOLDTRANS JSC 2.1 Assigned task during the internship 2.1.1 Welcoming foreign partners Relating to import-export and merchandising activities, my work must consistently associate and contact with foreign guests including partners and customers The company cooperates with many countries such as Korea, China, Japan, etc It’s necessary to build a team of high qualified interpreters, responsible and willing to serve guests The team also performs clearly every detail working that partners can see the professionalism and enthusiasm of working in Vietnam In the department, I was trained by the company's professional interpreter, and also tried to apply the lessons into the actual work In meetings with business partners, with different topics, I was also assisted by my assistants in translating with foreign partners and customers about information, specification and usage of product, which helps me improve my negotiating skills and English skill when partners come and work in Viet Nam 2.1.2 Supporting managers to translate documents, assist in writing commercial correspondences Sometimes, we had to support manager to translate some financial reports, lists of new goods, contracts and other documents We translated English to Vietnamese documents and vice versa The demands of translating documents are the accuracy about the information of enterprises and its partners The length of each document is usually about two to three pages in average It is obviously necessary to realize how crucial translating and writing business correspondence are in order to make the trading, exchanging and installing products successfully Besides, I also had opportunity for assisting in writing many types of business correspondence Fortunately, Translation and Business Correspondence are two of the main subjects that I had been taught at Thuongmai University Therefore, it had helped a lot in order to complete excellently the assignments that the import-export department had given to me 2.2 Challenges and experience during the internship  Some challenges: Working in a professional environment requiring high flexibility, I was quite pressure in the early days of internship process so I had to try hard and after a period of adaptation, I got acquainted with it and completed the assignments efficiently At the beginning, I got some trouble with this I did not have too much knowledge about this area and I could not handle it myself, even though it was a small matter Although I’m a student of English Faculty and approached many kinds of documents and texts, I still met difficulties in understanding terminologies of main fields in business Some terminologies using construction field about materials or machines make us confused as translating or selecting It is highly difficult for us to understand the meanings of economic terminologies If we are not careful, we can misunderstand those meaning and provide the inappropriate information for manager and customers I interned at the import and export department, where most of the staff use English to work with customers That made me surprised because my major is English business However, I still faced many difficulties because the work required a large mount of knowledge about the import and export process Meanwhile, I have just started to get acquainted with this field in a subject called "professional management of international trade" and taught about supply chains as well as some types of correspondence used in import and export through my professional subjects I had to ask for help from my team many times In the first week of work, I almost needed help every day I was shy and worried about bothering people around me, however they always readily helped me and I also helped my team a bit when someone is busy 10 In addition, translating required many skills and knowledge We needed to have knowledge of culture and customs worldwide to translate documents appropriately So, I had to find suitable way to convert information into Vietnamese or English to help readers understand them It was not easy for new intern to implement these tasks Writing or replying partners’ email and letter and organizing working schedule are not easy for us It is really essential to exert knowledge of business correspondence in replying emails or letters of partners and customers Using formal words, sentences and structures are relatively difficult When replying the complaint emails or letters, we need to be patient to deal with the problems intelligently and flexibly If we not control our emotion, we could lose the great image of enterprise and impact the prestige of company Thus, the task needs to have the accuracy in performances  Experience during the internship: Working as an intern at GoldTrans during weeks, I applied the knowledge studied at school into practice I got valuable working experience and soft skills I not only had many chances to improve my knowledge and experience in the importexport sector but also had access to many modern equipments and a professional environment They included spirit of learning, language skills, computer skills and communication skills Therefore, I found easier to make relationships with colleagues; I have learned many lessons and can solve problems if I meet again The following are some of experiece and skills that I gained during this internship processing: Firstly, I had chances to support import-export department to meet and deal with foreign guests so my English speaking skill was improved more and more, this made me more confident when I stand on many people Next, through my one-month internship, I also felt that my English skills were not good As a student at English Faculty of Thuongmai University, I have been 11 exposed to a lot of English but I need to improve to be more confident in an English environment Especially, my communication skills and commercial writing skills were improved much better than before I also knew how to handle some types of documents, contracts, reports and had some understandings about national law as well as regulations for goods before import and export Besides, my computer using skills were improved significantly This experience has helped me to improve my English skills quite much, such as my reading, writing skill I was becoming familiar with structures, grammar in writing and how to effectively enrich my vocabulary I also learned common English phrases and specialized words in official documents I believe that all experience and skill will be very useful for both my life and future job 12 CHAPTER III THE REALITY OF ENGLISH USAGE IN GOLDTRANS JSC 3.1 The English usage in GoldTrans JSC In the past few years, Vietnam’s economy has strongly integrated into global one, causing increasing demands of high quality human resources that has not only a thorough understanding of specialized affairs but also good foreign languages and soft skills Nowadays, English plays an extremely important role in every enterprise It represents a key offering more opportunities to expand business scale, seek more investors, partners and find out new markets from which improve profitability and production efficiency With the development of the economy, the human resources of GoldTrans are also required, recruited and supervised to write business correspondence, making transactions and interact in English The staffs of import-export departments are required to have English communication, business correspondence writing, contract drafting and negotiating in business environment Moreover, GoldTrans built up the policies in increasing great remunerations of employers when the workers had a high English qualification (TOIEC, IELTS, TOEFL…) However, using English in GoldTrans still faces many limitations due to the english skills of the employees have not been focused Now, the company just has about 50% of their employees who can use English Especially, in recent years, the demands of the business have expanded abroad, most of the departments in the company use English But the level of English usage among the departments are different and just focuses on the Import/Export with the task of receiving and handling business contracts; contract drafting and writing emails to negotiate and perform commercial transactions with domestic as well as foreign partners 13 3.2 Proposing research problem 3.2.1 Existing problems in company’s human resources In recent years, English has become an integral part of the company and the key for expanding relationships with brands Admittedly, the work for my internship uses a lot of English words as well as terms on documents Working as a one-month intern, I can realize several problems: Firstly, the part of staffs has no maximum exploitation in using English in some departments such as finance & accounting, marketing, sales, etc Secondly, the company is short of staff with high proficiency of English, which causes a big disadvantage in the business process as well as competition further to the bigger markets For example, some employees are good at English at very basic level, enough to comprehend what the documents say but sometimes not know how to reply or handle problems Lastly, it is difficult for the workers to interact and solve with some problems with foreign partners or customers Sometimes, when finishing reports, they make some mistakes about grammatical errors and it impacts the transmission of information to managers Specifically, when drafting contracts and writing business correspondences, they often confuse word classes and phrase classes The words and sentences used in contract need to be clear and accurate but they often express the meaning of sentences in English complicatedly It makes readers misunderstanding the contents of contracts Some common mistakes that the worker had are including: subject-verb agreement errors, sentence fragments, misplaced or dangling modifier, wrong word usage, lacking parallel structure, possessive nouns, etc Thus, it could result in the conflict between other workers and made a negative impression on the eyes of international partners 3.2.2 Proposing research problem Being aware of the negative reality and recognizing the importance of English for the operations and the existing limitations, GoldTrans should implement a 14 number of policies aiming at raising the English level of the staff After one month as an intern student, I would like to give some recommendation to improve the use of English, including: The first is company’s duties GoldTrans should have a plan to offer short training course not only to strengthen the major knowledge and soft skills, but also increase English background for employees The training courses will concentrate on communication and negotiation skills, email composing, contract editing in English with a hope that the English competence of people working in GoldTrans will be improved significantly The company makes conditions for applicants who are very good at English; promises to reward such as extra bonus for individuals with good working performance In addition, encouraging them to use english in the company as much as possible to increase their english reflex For example, the company can organize some small competitions during special holidays of the company or the company's vacation, so that they have the opportunity to express and try to communicate in the Company The second is personal duties Each employee needs to raise awareness of practicing and improve his/her English ability so as not to fall behind on society Being active in everyday communication is also an effective way to improve your listening and speaking skills .Improve and enhance the use of English in business is a necessary step, as a prerequisite for the development of companies in the current integration economy 15 CHAPTER IV PROPOSING THE TOPIC OF GRADUATION THESIS Nowadays, English has really become the most popular language around the world as well as the key for international relationship, enterprises have to improve the quality of human resource that has not only specialized knowledge but also good foreign languages and soft skills The companies require the high qualification of interviewer in the first round If the interviewers are good at foreign languages, they would have opportunities for being a part of company After one month internship at at Import-export Department in GoldTrans JSC, I realized that most of staffs can speak and listen in English basically, which is enough to communicate with each other However, when working with contracts, merterials, emails they often met grammartical and structute errors That might begin from the lack of knowleadge in the meaning of phrasal verb or terminologies and the difference between speaking and writing From the above reasons, I propose a subject for graduation thesis: “A Study on common English written errors made by last year students and how to improve writing skill for students who wish to work at import export companies” 16 CONCLUSION While doing the internship and researching about business operations at GoldTrans JSC, I have gained knowledge about company’s history and business results in the period of three years (2017 – 2019), also the factors which affect company’s business activities, working environment, especially experience for my future job During four weeks of internship at the company’s departments, I grabbed the opportunity to apply the knowledge obtained at university into reality, especially communication and wrting, reading comprehension skills Many difficulties to face, many problems to solve, however, I also got a lot of experience: enhancing my English skills and fulfilling myself, my ability Through my experiences obtained during the one-month internship and my background knowledge, I conducted this report in order to figure out some existing problems at the company and propose the research problems I hope that it would contribute to the unit’s development in the upcoming time I would love to give my sincere thanks to our supervisors at Faculty of English – Thuongmai University, and all managers and colleagues at GoldTrans JSC for helping me to complete this report HaNoi, February 05, 2020 Student Nguyễn Duy Đức 17 REFERENCES I would like to express my gratitude to the following researchers for providing very useful information sources so that I could complete this report:  Goldtrans.com.vn  Dichvuhaiquan.com.vn  http://www.vietthangpst.com.vn 18 ... JSC JOINTt Stock Company GoldTrans Công ty giao nhận vận tải Vàng iv CHAPTER I OVERVIEW ABOUT GOLDTRANS JOINT STOCK COMPANY AND IMPORT-EXPORT DEPARTMENT 1.1 Information about GoldTrans Joint Stock. .. Logo of GoldTrans Joint Stock Company Organizational structure chart of GoldTrans Joint Stock Company Revenues of exxporting merchandisess in GoldTrans Joint Stock Company Organizational structure...REFERENCES 18 INTRODUCTION This internship report has been prepared for the internship that has been done in GoldTrans Joint Stock Company in order to study the practical aspect