2006 marked an important milestone in the integration of the global economy when Vietnam became an official member of the World Trade Organization (WTO). Entering the sea, Vietnam is facing huge opportunities for economic development as well as affirming its position in the international arena: access to markets of large goods and services with equal nations. tablets; maximizing internal strength and competitive advantage in the international arena. However, Vietnam is also facing increasingly fierce competition challenges, on a deeper level; interdependence between countries by the process of globalization; face many problems such as environment, national security, etc.
The integration process of the country poses great challenges for domestic enterprises including Viet A Industrial Investment and Trading Group Joint Stock Company (hereinafter referred to as Viet A Group). Born in the context of the Asian financial and economic crisis and the world in the late 1997 had a strong impact on the domestic economy, many business components in the young economy including Vietnam Asia is facing the difficulties of economic recession, reducing foreign direct investment FDI, currency devaluation, inflation, especially the decline in demand in the world and domestic markets. Besides, the country has just entered the market mechanism, the policy mechanism is still limited, unclear, easily affected by changes in supply and demand. Especially tax policy, foreign exchange control policy at that time greatly affected the operation of enterprises. Along with the above external difficulties, internal enterprises also face limitations. That is the lack of human resources in terms of quantity, quality and awareness of integration with many limitations. Next is the problem of capital, facilities for investment, maintenance and expansion of production and business while rapid development of science and technology, management and special systems is the emergence of more businesses entering the market in the same industry, creating increasingly fierce competition. Meanwhile in the opening period, the limitations of the Family Company model began to reveal its inherent limitations, requiring a change in management methods for effective response, meeting with love. diverse demand arises in the economy.
Overcoming difficulties and challenges in the integration process, Viet A has affirmed its position in the domestic market and developed gold into the international market. Being evaluated as one of the strong economic groups in Vietnam with 15 companies, member units, 6 factories and 3 representative offices. From only 5 people in the early days of establishment until now after nearly 13 years of construction and development of Viet A, nearly 2000 officials and employees have worked regularly.
The transformation of a family company into a Joint Stock Company in 2005 is seen as a milestone in the development and integration of Viet A into the economy. With the new position and power, Viet A quickly researched and grasped the technology and produced high-tech products that can replace imported goods. Some products were previously imported from advanced countries, so far most have been produced by the hands and minds of Viet A officials and employees. Viet A branded products have been exported to international markets. Viet A brand – VAPOWER has created a rather firm foothold in the minds of customers. With a sensitive policy and strategy in foreign affairs, Viet A established a system of strong international technology partners with a global position, large-scale and multidimensional. about cooperation. According to the national market research results in 2007 by Acorn Company (Singapore) – a reputable company operating independently in the field of market research, Viet A brand – VAPOWER is one of the Strong brand in the electricity industry market, power development, and leading the domestic business sector. Along with the development of human resources, Viet A brand is affirmed through the annual increase in business and production. If in 1999 the company’s sales only stood at a modest level of VND 20 billion per year, this figure was nearly VND 1,500 billion by 2007. The steady increase in annual sales once again proves the sustainable development of Viet A.
The difficulties and challenges of the integration period seem to increase the determination of the Viet A leadership team, pioneer Pham Thi Loan. The desire of “Viet A’s products” is well known and trusted by the world and encourages Ms. Loan to overcome many challenges and obstacles, the high determination flame from the conductor is transmitted to the team. Staff and employees of the Group In addition to the determination to be flexible, creative and learn advanced management methods from developed countries around the world, especially from international partners commitment and trust in investing in Viet A The development of Viet A also lurks in a spirit of nationalism and society, working together with the Party and the State to realize the goal “Rich people, Strong Country, The Society is Fair, Democratic and Civilized ”. In its development, Viet A demonstrates its adaptation to suit current conditions, in line with national and international socio-economic conditions. The transition from a family company to a joint stock company in 2005, the acceptance of the introduction of modern management culture in the world into enterprises is a testament to that suitability.
In parallel with those fundamental changes in history, to grasp the opening opportunities of the economy with the need to expand the company’s operations, especially the diversification of investment and development scales. technology, expanding to other areas beyond the foundation strength, the breakthrough from the family company model has solved the pressure on capital, human resources, management systems, technology, etc., in line with the trend of integration and development, especially after Vietnam became an official member of the World Trade Organization (WTO) in 2006.
Throughout the process of formation and development, right from the first days of establishment, the conductor of Viet A Group, Pham Thi Loan, always cares about the management by system, mechanism and construction. specific and detailed guiding documents for each job, process and work handling in all departments and departments with profound views that “Employees can leave the company but the system lost”. In 2000, Viet A was granted the Certificate of Quality Management ISO 9001: 2000. Along with the management by the system of mechanisms, documents, scientific and technical advances were also particularly interested in application in the public. management, such as enterprise resource management software ERP, human resource management IHRM, and other preeminent office management software …
The most important lesson in the success of Viet A, according to the CEO Pham Thi Loan, is the human factor, deciding the success or failure of an enterprise. The human factor is considered the “source” for development. Viet A has built a friendly working environment where “The company is family, colleagues are brothers”