Group Research Report

7/27/2019 Group Research Report

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Group Research Report

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CONCLUSION ..................................................................................................................................... 17

APPENDIX ........................................................................................................................................... 17

REFERENCES ..................................................................................................................................... 21

ACKNOWLEDGEMENT

Firstly, we want to give our honest thank to Mr. Brad who is our lecturer and follows as well

as guide us through this course. He also a person gives us many useful lessons to know about

entrepreneurship which is necessary for our future. Moreover, he always is side by side when

we have problems and during our process to accomplish assignments.

Next, we want to say sincere thank to Mr. Vu who is a founder of Trung Nguyen coffee. We

are very grateful the precious time that he spends for our interview to help us collect useful

information about coffee industry, common entrepreneurship and the way to run business

fluently. Furthermore, we also receive many experience and lesson of real businessman from

him, which is very helpful for our entrepreneurship in the future.


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EXECUTIVE SUMMARY

Today, accompanying with the development of society is the rapid growth of entrepreneurs

who manage and assume major risks by seizing opportunities and adding value through time,

effort, money or skill. Because of the growth of entrepreneurship and the opened Vietnam

business environment, they must face with many barriers and try to use their best skills and

mind-set to be existed in Vietnam competitive market. For the deep understanding about

entrepreneurs in recent Vietnam society, this research report will examine the characteristic,

creative innovation, the way of collecting information of industry and competitive position,the value of business plan making, the inception of financial sources, the way using guerrilla

marketing techniques and benefit from entrepreneurial marketing of three local entrepreneurs

from different industries who are reasonably well established in the market. They are Mrs.

Duong Thi Bach Diep, CEO of Real Estate Diep Bach Duong Company, Mr. Vo

Quoc Thang, CEO of Dong TamCompany and Mr. Dang Le Nguyen Vu, CEO of Trung

Nguyen Coffee. Additionally, there are some helpful and valuable lessons experienced from

real entrepreneurs will also be presented.


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DISCUSSION AND ANALYSIS

Dang Le Nguyen VuTrung Nguyen Coffee Company

Entrepreneurial characteristics1. Innovation and Creativity

In the recent years, the economics are facing many big changes like never before; thesechanges included a rapidly expanding marketplace by globalization, increasing competition

and occurrence of many new technologies. Thereby, creativity and innovation is main key to

the success for each organization improves and develops their business. According to

Kuratko (2009), duplication is one of the four types of innovation, duplication prefers to

creative replication of an existing concept. In this case, Mr. Vu had recognized that using

franchise method brings many advantages in increasing profit and expanding market share for

many businesses in many countries around the world. However, the franchise method was not

common in Vietnam at the end of 20th century. Thus, Mr. Vu had had a creative decision in

applying the method for Trung Nguyen. Applying the franchise method help Trung Nguyen

who expanded the market share through out domestic market and foreign market such as

Singapore, Japan, China, Germany and other countries. As a result, Trung Nguyen had had an

important position on the world's coffee industry and sale revenue was increased

significantly. On the other hand, the innovation of Mr. Vu also displayed in designing Trung

Nguyen's shops. Mr. Vu realized that natural spaces are very necessary in big cities such as

Ho Chi Minh and Ha Noi. According to Biech (1996), creativity comes up from light ideals

and the role of innovation is to bring these ideals to real life He decided to bring the nature

into all Trung Nguyen's shops to make many new feelings to customers. The practice was

never applied by other coffee companies. Thereby, Trung Nguyen's shops had made a strong

impression on the customers.

2. Vision

Besides the innovation and creativity, vision also is one of the important characteristics which

I had found from Mr. Vu as a successful entrepreneur. According to Buser PA et al (1992),


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entrepreneurs need to have a vision or concept about where they want to go and what their

companies can be. Mr. Vu also knows where he wants to go and what Trung Nguyen can be.

In order to develop Trung Nguyen coffee becomes a strong brand in the coffee industry, Mr.

Vu had divided Trung Nguyen's strategy by 5 steps. Currently, Trung Nguyen has finishedthe second step. The first step is to form Trung Nguyen coffee brand. Secondly, Trung

Nguyen brings nature and culture to the uniformity in the products. The third and fourth steps

will be not revealed by Mr. Vu because of some secret rules in the business. However, the

last step of Trung Nguyen strategy is a Trung Nguyen global.

3. Commitment

One of the prominent characteristics of Mr. Vu is commitment. Kuratko (2009) stated that

commitment and determination are seen as more important than any other factor that

inspiring an entrepreneur. The commitment of Mr. Vu is displayed explicitly through he had

come back Trung Nguyen after leaving the company in 5 years. After experiencing any

incredible obstacles in Trung Nguyen, he really had felt tired and embittered. Thus, Mr. Vu

had empowered his assistant to manage and lead Trung Nguyen. Although leaving the

company Mr. Vu still had given care to all Trung Nguyens activities. Thereby, when Trung

Nguyen had faced many difficulties in joining WTO, Mr. Vu and his staffs had solved these

problems together. On the other hand, the commitment also is showed in the period when Mr.

Vu was developing Trung Nguyen. In order to execute his ideas, Mr. Vu had spend all efforts

and time in these ideas and forget all such as the birthday of his son.

Types of innovations Extension and duplication

a) Extension

According to Kuratko (2009), extension is new use or different application of an existing product, service or process. After Mr.Vu had realized the saturation of roasted coffee market

because of a numerous competitors, he had researched and invented a new method in

enjoying coffee instant coffee. Trung Nguyen still uses the roasted coffee is main

component; however, these roasted coffee will be grind and prepare to make the instant

coffee - G7

b) Duplication

Mr. Vu recognized that franchise method was common in many countries on the world.

However, the method is still new in Vietnam. Thus, Trung Nguyen had applied the franchise


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method to expand the market share in Vietnam and many foreign countries. Base on the

method, Trung Nguyen had used the existing concept franchise method to renew it by

applying the method in Vietnam. Thus, Trung Nguyen had had a large number of outlets and

coffee shops at all provinces in Vietnam. Kuratko (2009) stated that duplication prefers tocreative replication of an existing concept.

Collecting information about the industry and competitive position in the marketa) Collecting information about the industry

The existence and development of any companies are depended on the information which

they collected. Thereby, information plays a main role in the success of an organization or

company. However, in order to have useful and necessary information is not easy. For the

case of Trung Nguyen, before establishing any new products, the company also has some programs to research and evaluate market. In order to have accurate researching and

evaluation, social survey of the social organizations, sellers information and market research

are main plans which Trung Nguyen had applied. According to Vu (2010), in the coffee

exhibit in the Reunification Palace, there are 65 percentages of customer who like instant

coffee G7 and 35 percentages for instant coffee Nescafe.

b) Competitive position in the market

In the Vietnam market, Trung Nguyen is one of the strong brands in coffee industry.Furthermore, with a large retailer system through Vietnam, Trung Nguyen had a high

position in the industry. Recently, the position of Trung Nguyen just is below the positions of

Starbuck and Nescafe (Ha, 2010). However, according to Mr. Vu (2010), after finishing the

coffee shop system Trung Nguyen will be a master in the Vietnam coffee industry.

Business planBusiness plan is a written description of a business that you intend to start implementation.

Furthermore, it is also a plan of operation and you want to do business development should

look like. Besides that, the business can reduce many risks during starting a new venture of

companies (Abram, 200). In order to have the success of Trung Nguyen, Mr. Vu divided the

Trung Nguyen strategy by 5 main steps below

1. Forming the Trung Nguyen Coffee brand

2. Brings nature and culture to the uniformity in the products3. Do not revealed


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4. Do not revealed

5. Trung Nguyen Global

In the recent, Trung Nguyen has finished the second step. Mr. Vu had spent a lot time for

plan each step. Each step is one short plan which needs to have specific plan to achieve theseshort plans. After finishing the 5 steps, Trung Nguyen can achieve the long term plan.

Sources of financeAfter having ideas in establishing a new venture, source of finance is important part which

each leader must do. For the case of Mr. Vu, he had mobilized finance by borrowing money

from his family and friends to begin a small coffee manufacturing in Daklak. After Trung

Nguyen was established, he mobilized finance by borrowing from commercial banks. Besides

borrowing from the bank, Trung Nguyen also uses money which is received from sellfranchise to run all activities of Trung Nguyen.

Marketing techniques

Marketing is one of the main methods of the sale promotion for any organizationsinintroducing and selling products or services. However, in order to apply and usethemarketing strategy effectively that is not easy. There are two ways to apply themarketingstrategy such as Guerrilla marketing, traditional marketing. In the case of Trung

Nguyen,

Mr. Vu use both Guerrilla and traditional marketing to improve sales for the company.According to Kuratko (2009), Guerrilla marketing is an investment in "unconventionalsystemof promotions that relies on time, energy and imagination rather than a bigmarketing budget.Trung Nguyen had taken part in many social events such as charityprograms and scholarshipfoundations to contribute a small proportion of TrungNguyen's profit to these events. Besidesthat, Trung Nguyen also had tried to build therelationship between the company andcustomers, societies and other companies. Fortraditional marketing, Trung Nguyen had spenta lot of finance for advertising on TVthrough some main channels in Vietnam such as VTV3,VCTV, and YANTV and so on. Inother hand, Trung Nguyen also had advertised many

products of the company by panels. Trung Nguyen had spent a lot of money for advertisingthat really help Trung Nguyen brand becomesstronger and has a high position in the coffee

market in the local and foreign nations.


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Duong Thi Bach Diep Diep Bach Duong Estate Company

Entrepreneurial Characteristics1. Tolerance for failure:

According to Karuko (2009), tolerance for failure is one of the main keys to success for any

entrepreneurs to improve and develop their business. During the period when Mrs. Diep had

begun Diep Bach Duong Real Estate Ltd., company which was established in 2003 and

specialized in construction and real estate industry, she had experienced many struggles and

failures. Thereby, she had realized that failures as a best tool to learn and improve herself.Experiencing the serious failures in 2007 when the company had bear large loss in investing

capital in many high buildings in district 7 especially in Phu My Hung. The company spent

lot money to buy more buildings in Phu My Hung at the time which the price is low.

However, the financial crisis in 2007 made the company could not sell these buildings. Thus,

Diep Bach Duong Company did not use the finance to provide for other activities of the

company. After the failure, Mrs. Diep has learned many lessons in researching and

analysing the real estate market. Consequently, Diep Bach Duong also has the sustainabledevelopment in the real estate market.

Types of innovations: Duplication

According to Kuratko (2009), there are four types of innovation such as invention, extension,

duplication and synthesis. Duplication prefers to creative replication of an existing concept.With eight years of experience in merchandising tract house, Mrs. Diep has a deep

knowledge in real estate industry. However, real estate industry was not very common in the

end of 20 th century in Vietnam. Thus, recognizing the high demand of tract house of local

market, Mrs. Diep had established her own company which specializes in consulting and

exchanging tract house for local companies and many foreign companies who come to

Vietnam. For instance, Diep Bach Duong Real Estate Ltd., Co had invested capital in

buildings and offices for lease.


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Collecting information about the industry and competitive position in the market:

During 32 years Mrs. Diep had lived and experienced in Saigon, she has been friends with

many people and colleagues. Thus, the information about real estate market was collected bythem. Having this information is a basic step to form the beginning concepts of Mrs. Diep in

this industry. Based on her knowledge about foreign cultures through some business trips and

traveling, Mrs. Diep can have a deep understanding about foreign customers to provide them

the best product as Diep Bach Duong can. In order to execute her projects in developing a

series of hotels through out Vietnam, Mrs. Diep had gone to many hotels in different

countries to finish her projects better.

Source of financing for their business:

There are a lot of ways to mobilize fund to start a new business such as borrowing from

relatives, friends, loans from banks or shareholders capital contribution. For Mrs. Diep,

having power to create a successful company like today is not enough. The most important

and meaningful things for her success can be listed that are the capital from her family and

banks. Mrs. Diep had shared that 40 percents of Diep Bach Duongs capital are collected

from her parents and friends, the rest is her capital. However, after the company had becomea strong group Mrs. Diep began borrowing from local and foreign banks to provide for all

activities of the company.

Business Plan

In order to manage and lead companies effectively, each organization or companies must

have clear plans. According to Fiore (2005), business plan plays a main role in the operating

the business of any companies. Giving clear and accurate plans that can help the companies

reduce the risks and improve profit of these companies. On the other hand, Fiore (2005) also

stated that plan will be divided by 2 types; short term plan and long term plan. The short term

plans will provide for the long term. In order to manage and lead Diep Bach Duong Company

effectively, she and her staffs also had prepared many clear and specific plans. However,

depending on each strategies of the company, she will give suitable plans. According to Diep

(2010), in order to achieve the 5years plan -giving Diep Bach Duongs Brand to foreign

markets, we divided the long-term plan by 3 short term plans. The 3 short term plans are


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1. Affirming Diep Bach Duong Brand in the local market

2. Diversifying products and services of Diep Bach Duongs Brand

3. Researching and developing Diep Bach Duongs Brand in Asian countries

Marketing techniques

According to Falls (2010), marketing has an important position in introducing new products

or services to the market by advertising and promotion campaign. Moreover, Falls (2010)

also stated that advertising is unique method to satisfy customer demands.

Mr. Diep recognized that the development of internet and social media, thus; she focus on the

advertising on some prestige websites and some advertising programs of VTV. Some prestige

websites such as Vnexpress.com, dantri.com which are attracted a large number of viewers

daily. This is the best way to introduce pictures and information which related to about Diep

Bach Duong Company. Furthermore, advertising Diep Bach Duongs Brand via VTV that

can help the company will be know by people who live in Vietnam and foreign countries

such as USA, Canada and so on.


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Vo Quoc Thang Dong Tam Company

In the business of building materials and interior decoration, Vo Quoc Thang is a name

familiar to many young entrepreneurs that have effected the business decisions and how totreat people of their generation.

Entrepreneurial characteristics1. Commitment, determination and perseverance

When he was two years old, his family business with the name is Dong Hiep must stop

production due to material difficulties. However, with the son in the business family, he has

passion with the tile and the most valuable asset to be successful on the market is the

confidence entrusted by his father. in addition, Vo Quoc Thang always remember in his head

forever what his father said " The mind (moral), patience (patience), humility (modesty) are

the virtues required of a person at all time, especially for a businessman" (Toi muon dua

Dong Tam thanh thong hieu quoc gia, 2007). Therefore, He used it to drive to achieve and

grow and Dong Tam company will be established when he was only nine teen years old.

Furthermore, the tiles of Dong Tam was very famous due to it was very durable and it can

use for a long time. Therefore, tiles of Dong Tam have used in many major contraction

projects from the past until now such as Cho Ray Hospital, Nguyen Tri Phuong hospital andCu Xa Thanh Da. This is an effect of patient of Vo Quoc Thang.

2. Opportunity orientation and goal orientation

Vo Quoc Thang study at Japan to get more knowledge and increase experience form his

Japanese teacher is the professional of management, Mr. Shozo Hibino. Besides that, M.

Thang invited him go to Vietnam to teach their staff for the management of dong Tam on

"Breakthrough Thinking" to achieve the objective of his company (Ha, 2009). He gave

orientation for his employee have a comprehensive reform in the way of thinking, ways of

working and creating synergy throughout the company to meet the strategic development of

the Dong Tam in 2015.

Type of innovation Invention

Kuratko (2009) offers the option that there are four types of innovation such as invention,

extension, duplication and synthesis. Moreover, in this situation, invention is suitable for


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Dong Tam Company. According to Kuratko (2009), "invention is the creation of new

product, service, or process often one that is novel or untried such as concepts ten to be

revolutionary". Besides that, Vo Quoc Thang is not only a successful entrepreneur but also

he was very successful in the role of a football. According to Hoang (2010), Mr. Thanginvested money to establish Dong Tam Long An football team to contribute to develop

economy and he said that entrepreneurship is a player" because of entrepreneurs do today is

not unlike what a player running on the pitch and the market is like a battlefield. If you stop

running, you will lose opportunity to win. In addition, Dong Tam Long An has won third V-

League 2004 and V-League championship for two consecutive years 2005-2006.

Furthermore, in the long term development strategy, Mr. Thang want to invest money in the

business real estate, development of industrial parks and residential areas to built business

with many large investment plans and investment associated with domestic and international

(Vo Quoc Thang dem tu duy dot pha vao doanh nghiep, 2008).

Systhesis

According to Kuratko (2009)," synthesis is the combination of existing concepts and factors

into a new formulation or use". Vo Quoc Thang after successful on production tiles with high

quality of Dong Tam, he decided to invest money on the construction sector by using Dong

Tam tiles on the Dong Tam's building and apartment to expand market share and make Dong

Tam company more developing (Vo Quoc Thang-Gach Dong Tam Long An, 2009).

Entrepreneurs go about collecting information about their industry and competitiveposition in the market

Vo Quoc Thang is a hard working people; he went to many European countries to learn how

to make tiles for Dong Tam Company. After found some information in many countries,

finally he has found the answer in Italy and Spain where is a land of modern ceramic

technology in the world to help him develop his company. In 1994, with the knowledge he

learnt and selected information from other countries, he decided to invested in a modern

factory in Dong Tam Long An. Moreover, after two years successfully in Long An, Mr.

Thang expand market to the South and the North in 1996. Furthermore, according to Ha

(2009), Mr. Thang also finds out the demand of customer in Vietnam by doing some surveys


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to collect feedbacks from customers to improve the products and develop orientation.

Therefore, after doing some survey,Mr. Thang wants to invest money into new technology,

new equipment, updated specific knowledge and the most advanced techniques in

manufacturing operations to provide customer the product with high quality and bestcustomer service. In addition, he feels he not achieved what he wanted, so he continue with

his passion and decide expand market into USA with 1.500.000 USD capital is the first step

to create more distribute system for Dong Tam tiles in foreign country market.

Business plan

Business plan is the first step of all every entrepreneur do and it is very important to achieve

goal. Before staring the business, Vo Quoc Thang has made plan and strategies for one year to develop Dong Tam Company. Perfect business can help Dong Tam Company achieve

budget and bring profit to the company. In the fist step, he develop plan to make Dong tam

become famous in South and North in Vietnam to satisfy the demand of customer to provide

them the products with high quality and best customer services. The second step, he wants to

expand market in US to introduce Dong Tam tiles to foreigner customer. Base on the

business that he has made, Dong Tam company has famous in both Viet Nam and other

countries and tiles of Dong Tam company has achieved ISO 9001 (Vo Quoc Thang-GachDong Tam Long An, 2009). As a consequence, achieved ISO 9001 which is the evident to

prove Dong Tam Company has provided high quality product and best service to customer.

In addition, he has planned to develop on the real estate market and invest on construction

sector in the future.

Source of financing for their business

Vo Quoc Thang with the help of his parents to establish Dong Tam Company when he wasonly nineteen years old. In 1986, the company has only ten employees in the factory.

Moreover, he was very successful and his product was very famous in Vietnam can lead to

the company earn a lot of profit. Furthermore, he used profit to establish Dong Tam Long An

and now the factory has 3,300 employees (Phong, 2008). Beside that, he spent $1,500,000 to

expand market into US and bring more jobs to many people and reduce unemployment in

Vietnam.


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Guerrilla marketing techniques

Dong Tam company use PR to introduce their product to the customer. Mr, Thang understandthe life of poor students when they do not have enough money to study and develop their

skills, so Dong Tam company and Tuoi Tre magazine combine to celebrate program to

provided scholarships for 126 poor students to help them opportunity and chance to develop

their skills (Phong, 2008). Furthermore, he also gives 2 billion each year for poor students in

the deep end such as Ca Mau, Son La, and Dak Lak through out the year in university lecture

halls. Besides that, he gave fund for children of company employees are of school age and

donated ten of thousands of gifts food festival for the poor people.

LEARNING OUTCOME

Entrepreneurial Characteristic:

Although entrepreneurs are not born but there are some common characteristics existed intheir former subconscious. According to Hornaday and Aboud (2008), to discuss and

understand about the psychological nature of successful entrepreneurs, we must identify their

personal characteristics. There are many common characteristics are researched but a

successful entrepreneur just have some of its.

The hardest step is when starting establish a new venture. Therefore, with existing

characteristics, three local entrepreneurs that we mentioned above can overpass obstacles and

difficulties fluently at the first step of business. Particularly, Mr. Vu and Mr. Thang have the

same characteristic: commitment which is necessary to maintain the business. Although the

family business of Mr.Thang was stopped and there are many barriers that Mr. Vu faced with,

but with the love on their business they try their best to maintain their business and reach the

success like today. Besides, tolerance from failure is also an important characteristic of

entrepreneur. Mrs. Diep has strong tolerance from failure when her business gets big loss

while facing with financial crisis in 2007. She did not only give up but also considered it as

lessons in researching and analysing the real estate market. Furthermore, three of them have

their own vision to drive and grow their business in right direction.


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After doing this research, we now know that most of entrepreneur characteristics are nature

(Suster, 2010), but some of them was inherited from parent and existed when running

business. To illustrate, Mr. Thang who was inherited commitment and perseverance from his

father. Mrs. Diep has the natural trait: strong tolerance from failure which helps her a lotwhen running business. However, the most important thing is three of them experienced

some characteristics needed when doing business. From their situations, we can conclude that

entrepreneurs should apply some of common characteristics which are appropriate with their

business.

Type of innovation

As we discuss above there are 4 types of innovation that is a direction for business to rely onsuch as invention, extension, duplication and synthesis. Although Mr.Vu and Mrs. Diep ran

business in different industry, they applied the same innovation: duplication. Because they

have done a clearly research and have deep knowledge about their business, they knew what

is new and can be developed in Vietnam. For example, Mrs. Diep recognized that real estate

industry was not common in the end of 20 th century in Vietnam while there is high demand of

trading houses in local market and Mr. Vu realized that franchise method was common in

many countries in the world but Vietnam. Thus, they based on the existing concept to apply

successfully on their business. Besides that, Mr.Thang also was successful by applying

another innovation: invention which is investing in new major such as football, real estate,

industrial parks and residential areas. From their innovation, we can understand that no

matter what innovation of our business is? Our goal is to do research and find out what type

of innovation is suitable.

Collecting information about their industry and competitive position in the market

It is obviously to know that collecting information about the industry that we do business on

is very important in the very first step. Based on that notion, Mr. Vu paid much time on doing

research, evaluation and social survey to collect necessary information. Mrs. Diep collected

information from many people and colleagues work on real estate major. Moreover, she and

Mr. Thang also collected information from foreign companies and customers through their

business trip and traveling.


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After doing business based on collecting information about their industry, they continued to

collect the information about their competitive position in the market to know where they

were and how they should improve. There are the easiest way to improve their position in the

mar ket is to satisfy customers because the faster you can adapt to accommodate customer needs, the stronger your company's reputation ( Bobinski, 2004). This can be seen as a useful

lesson for a new entrepreneur.

Business plan

As everyone knows that, business plan takes important part on the process of doing business.

Therefore, based on their current business, Mr. Vu, Mrs. Diep and Mr. Thang have their own

way to create a business plan into different steps. From their works, we can see that there aremany advantages of making business plans such as minimizing risks, running business

fluently and increase profits.

Source of finance

According to this research, we can summarize the ways to mobilize capital of establishing

new venture. Those are money borrowed from family and friends, banks and venture

capitalists. About this source of finance, Mr. Vu, Mrs. Diep and Mr. Thang have the

similarities. In the beginning, they borrowed money form their family and friends to start new

venture. Then, they borrowed money from commercial banks to maintain and develop their

business. Through this research, we now are not worried about the way to mobilize capital to

start new venture.

Guerrilla marketing

After overpassing many main barriers that listed above, entrepreneurs move to focus on the

marketing technique which was the best way to bring their brand name become more well-

known and increase market shares. Specifically, Mrs. Diep realized the benefits from

advertising on internet and media. Therefore, she advertised her company on some prestige

websites such as Vnexpress.com, dantri.com and VTV channel. Besides, Mr. Thang focuses

on public relationship strategy, he combine with Tuoitre newspaper to create scholarship fundfor poor students. About this field, Mr. Vu who was more successful on his business by


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applying many of marketing techniques including 2 types of Mrs.Diep and Mr.Thang. To

illustrate, he had taken part in many social events, built relationship between companies and

customers, and also spent money on medias advertising.

CONCLUSION

In conclusion, there are many similarities and differences between three local entrepreneurs.

Those are the comparison and reflection between their personal traits, great ideas for

innovation and how they collect information of their industry as well as competitive position

in the market. Moreover, they have their own direction to create the business plan, to use

guerrilla marketing techniques and to gain benefits from entrepreneurial marketing. From that

reflection, we have a chance to understand deeply about the entrepreneurship and gain the

helpful experience from real entrepreneurs. Thus, we can be confident about the major that

we studying and have an optimistic look in the future.

APPENDIX

Interview

Dang Le Nguyen Vu

1) Business is always difficult, especially when the system stores high-end coffee franchise

straight into Vietnam in recent times. Reason that he claims is not hard coffee business?

Mr. Vu: These foreign corporations in Vietnam, they have opinions about the value of coffee

outside the West? Their coffee is delicious? The substance is not suitable to the Vietnamese?

I say no! But they provide other value that Vietnamese people could want, which is "to look

like Western, just American." It sits high in the store to demonstrate a certain level, but not

necessarily because of coffee. Central Highlands will be more than they dared to claim. Said

they must do to get it. So we built the plant, considered the whole of their products. We must

see through the formula of the "West". Raw materials, machinery and his good, Trung

Nguyen will be better. Machinery leading to raw materials must be selected all over the

world, plus his own secrets. It is more about the product. What about their standing in the

luxury buildings, plus a similar way to the West, like the USA. I do feel sadness that part. But

the real interesting, stand in the corner of the Vietnamese people really qualified, I do not

endorse this, and I do not appreciate some systems that are present here! We will do morefundamental values. I myself do not fear the problem location. Currently, the best location in


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Vietnam, Trung Nguyen is eligible, not financial gain? And the Vietnamese people really

have the heart to support China Yuan get good positions for branding the country? I think of

it.

2) What did you do in the five years of "neglect" Central Highlands?

Mr. Vu: I think coffee is just economics. But in my concerns, economic issues are not purely

motivated such as I said my old coffee just to take the family out of poverty. Once resolved, I

feel stronger, the country, people did not have much. I was worried about the present human

society. Can be tortured by the agonizing over how to make this country strong? In five years,

I do many things involved, so that when we look back and evaluate all, I find coffee really is

power in Vietnam - if we reorganize and know. I have proposed the construction of model

development in the Highlands, opening ways of thinking and approach developed regions and

countries. I think it is the smart choice in the new context, and it does not conflict any

ideology or religion is operating in this world. In this place, Central Highlands - as a

proponent - will do first.

3) From the capital of Buon Ma Thuot coffee, coffee to 36 Dien Bien Phu Ha Noi, Coffee

Saturday (HCMC) ... the system can identify Trung Nguyen Coffee is looking forward to a

new target audience is elite flowers?

Mr. Vu: Trung Nguyen's slogan is "Joining the creative source." I want to promote coffee is

the energy of the brain, so it works better. We are involved right from the manufacturing

process. Also usually present, coffee is world heritage, for all the people and world. Napoleon

once said: "If politics is the lack of coffee flavor that only lose." Trung Nguyen is the spirit of

re-processing views of coffee, from food to its normal up of cultural and artistic life and

philosophy, lifestyle, views of life. Trung Nguyen will be in many places, but the first

country to Vietnam. We connect and develop those who love and passion for coffee. But in

each period, to invest for the object, quickly spread to upgrade. We all know, many people

drink coffee, especially Southerners. But minorities understand coffee in cultural perspective,

the remaining drinking habits, drinking to the province, drinking soft drinks in perspective ...

In the workshops at home and abroad, the intellectuals are said to awaken the coffee industry

of Vietnam in economic level.

4) That's why Central Highlands recently returned with signs of an investment in all copies

and much more scale, which is the first brand to upgrade Central Highlands in Vietnam?

Mr. Vu: I've just come back a year to do what needed. I have to prove, if not called me back just say the sublime theory, great views. This year, sales doubled Central Highlands. That


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was the figure I am committed to you. I thought at first he could not increase sales figure

doubled over a thousand billion. I said I will do the same. I analyze each "he" one, including

"his" Starbucks prepares to jump into, from the perspective, philosophy, systems and the

financial strength ... I will require organizational change and thinking approach other. One isyou have to make the revolution for yourself. If not, I require an organization to implement

ideas, points of view. Trung Nguyen is the result achieved on target.

Interview transcript with Mr.Vo Quoc Thang, CEO of Dong Tam Company on 18

December, 2010.

Interviewer : Ok, lets begin. I know you when I was a child and you are a successful

businessman in vietnam today and your company is the most famous on the production tiles

from the past until now. How did you do that?

Mr. Thang: Hum This is a good questi on (smiling). First of all, I want to say that I am not

sure I am a successful businessman because what I want to do come from passion with tiles

when I was young and I alway remember what my father said to me is that "The mind

(moral), patience (patience), humility (modesty) are the virtues required of a person at all

time, especially for a businessman". This was a good knowledge to help me success on the

business.

Interviewer : Oh that is a great answer and I can learn from your father's experience to b e

successful of my job in the future. How could you star your business with only 10 employees

and now it has increased significantly to 3,300 employees?

Mr. Thang : Uhm. Uhm, when I was young, my family had a company with the name of

Dong Hiep in 1969. After 1975, with the difficult of finding material to make tiles, DongHiep had bankrupt. In 1986, when I only 19 years old, with the passion of tiles and with the


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help of my parents capital, I has established my own company with the name is Dong Tam.

Moreover, this company only have 10 employees, so I try to work and study from Italy and

Spain where is a land of modern ceramic technology in the world to help me develop my

company. And now, I had expanded my company at South and North in Vietnam with 3,300employees.

Interviewer: Oh, you are very hard working and patient. Why did you invite Mr.Shozo

Hibino, Who is Japanese teacher to teach you staff the way of thinking is call Breakthrough

Thinking ?

Mr. Thang: hum, I do that because I want my employees have a comprehensive reform in

the way of thinking, ways of working and creating synergy throughout the company to meet

the strategic development.

Interviewer: That is a good way to make employees more creating on the way of thinking.

How did you satisfy the demand of customers?

Mr.Thang: My Company provide good services for customer and explain clearly the suitable

tiles for them and gave them some suggestions. Moreover, we did some surveys to get

feedback from customer to improve our products and give customers high quality of goods

and services.

Interviewer : Do you have any stresses due to you work a lot?

Mr. Thang : Yes, definitely have because I went to work at 5am until 12 pm and i had only 4

hours to sleep. Therefore, it can bring a lot of stresses for me.

Interviewer : Oh, I am very surprise for this. What did you do if you get stress?

Mr. Thang: Uhm (smiling)I am always doing exercise such as badminton, tennis and golf to

reduce stress.

Interviewer : I know that you did some charity to provide money to help poor peopleespecially poor student? Why did you do that?


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Mr. Thang : I want to make poor students have a better life in the future, help them can go to

school and study with other students in order to reduce crime in Vietnam. Moreover, I am

also provided scholarship for those who are very hard working on their study.

Interviewer : Ok, one more questions I want to ask you are that why did you invest money

on the football market when you are very successful in the way of producing tiles?

Mr, Thang : Oh, this is my hobbies, I like football when i was a child (smiling) and I want to

establish my own football team. It is not only satisfied my hobbies but also reduce stress

when I am tired from working too much.

Interviewer : Oh, that is a great answer, thank you for today you give me a lot of sensitive

information to help me for the job in the future after I graduate at RMIT. I am very happy

when I talk with you and I hope i can meet you again in the near future. One last thing i want

to say is that I hope you have a good health and more successful in your business. Thank you

for this interview.

Mr. Thang : I am always welcome you again in the near future (smiling). I hope you will be

successful on your study. Thanks for the compliment.

REFERENCES

Biech, E 1996, Creativity and innovation: the ASTD trainer's sourcebook, 1st

edn ,McGraw Hill Training, USA.


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Bobinski, D 2004, The importance of Customers opinion, Manager-Issue, viewed 30

December 2010, .

Ha, N.T.T 2009, CEOVN Vo Quoc Thang- Dong Tam , ceovn, viewed 20 december 2010,

.

Hoang, N 2010, Ong Vo Quoc Thang, chu tich cau lac bo Dong Tam Long An: Dau tu it dau

phai rut lui , saigongiaiphong, viewed 22 December, 2010,

.

Hornaday, JA and Aboud, J 2008, The characteristics of successful entrepreneurs, Online

Library.Wiley, viewed 30 December 2010,

.

Kuratko, F 2009 , Introduction to entrepreneurship, 8th edn , Cengage Learning International

Offices, Canada.

Phong, L.T 2008, Vo Quoc Thang: Toi chia se voi nguoi dam lam doanh nhan , saga, viewed

22 December, 2010, < http://www.saga.vn/Doanhnhan/Guongmatdoanhnhan/13523.saga

'Toi muon dua Dong Tam thanh thuong hieu quoc gia', 2007, diendandoanhnghiep , viewed

20 December, 2010, < http://dddn.com.vn/14566cat137/ong-vo-quoc-thang-chu-tich-hdqt-

kiem-tong-giam-doc-cty-cp-dong-tam-toi-muon-dua-thanh-thuong-hieu-quoc-gia.htm >.

'Vo Quoc Thang dem tu duy dot pha vao doanh nghiep', 2008, agro, viewed 22 December,

2010, < http://www.agro.gov.vn/news/newsdetail.aspx?targetid=10452 >.

' Vo Quoc Thang-Gach Dong Tam Long An', 2009, Leading Business School (LBS) , viewed

22 Decmber, 2010,

.
http://www.sggp.org.vn/thethao/vleague/2010/10/241405/http://www.saga.vn/Doanhnhan/Guongmatdoanhnhan/13523.sagahttp://dddn.com.vn/14566cat137/ong-vo-quoc-thang-chu-tich-hdqt-kiem-tong-giam-doc-cty-cp-dong-tam-toi-muon-dua-thanh-thuong-hieu-quoc-gia.htmhttp://dddn.com.vn/14566cat137/ong-vo-quoc-thang-chu-tich-hdqt-kiem-tong-giam-doc-cty-cp-dong-tam-toi-muon-dua-thanh-thuong-hieu-quoc-gia.htmhttp://www.agro.gov.vn/news/newsdetail.aspx?targetid=10452http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://lbs.edu.vn/index.php?option=com_content&view=article&id=1873:vo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-anvo-que1bb91c-the1baafng-ge1baa1ch-de1bb93ng-tam-long-an&catid=40:cau-chuyn-kinh-doanh&Itemid=66http://www.agro.gov.vn/news/newsdetail.aspx?targetid=10452http://dddn.com.vn/14566cat137/ong-vo-quoc-thang-chu-tich-hdqt-kiem-tong-giam-doc-cty-cp-dong-tam-toi-muon-dua-thanh-thuong-hieu-quoc-gia.htmhttp://dddn.com.vn/14566cat137/ong-vo-quoc-thang-chu-tich-hdqt-kiem-tong-giam-doc-cty-cp-dong-tam-toi-muon-dua-thanh-thuong-hieu-quoc-gia.htmhttp://www.saga.vn/Doanhnhan/Guongmatdoanhnhan/13523.sagahttp://www.sggp.org.vn/thethao/vleague/2010/10/241405/


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