On the morning of October 10, 2020, Quy Nhon University collaborated with University of Economics - Hanoi National University, University of Electricity, University of Commerce, Institute of Brand Strategy and Competition in organizing the National Science seminar titled "Green Growth - Corporate Restructuring at the time of Covid-19 pandemic" to create a forum linking universities, research institutes with the business community for a mutual change of experience and practices of corporate governance in Vietnamese businesses towards the sustainable development of enterprises in the context of climate change and global epidemic crisis.
The seminar was held with the participation of lecturers, staff of co-organizers, representatives of departments and agencies in Binh Dinh such as the Department of Science and Technology, Tax Department of Binh Dinh province, Department of Labour, Invalids and Social Affairs, Binh Dinh Young Entrepreneurs Association, consultants, and especially those from more than 40 Binh Dinh-based businesses.
A general overview of seminar
Addressing the Business Advisory Session of the seminar this morning, Assoc.Frof.Dr. Do Ngoc My - Rector of QNU, on behalf of the Organizing Committee emphasized that Vietnam was one of the countries strongly affected by global climate change, the National Strategy on Green Growth and the National Strategy on Climate Change with a vision to 2045 issued and implemented clearly demonstrated the Party and State's political determination in green economic development associated with sustainable development of the country and that in 2020, the Covid-19 epidemic has had a profound impact on the world economy, changing both the production and consumption trends of countries. For Vietnam, especially small and medium enterprises, the problem of enterprise restructuring and production restructuring is a current and urgent issue. Currently, although the Covid-19 pandemic in Vietnam has been controlled, production and consumption activities have gradually returned to the so-called "New stable and normal" situation, but many small- and medium-sized enterprises are still facing many difficulties such as a lack of raw materials, capital, employees, the shrinking of the consumer market.
This shows that, through this crisis, one of the urgent problems is that businesses need to carry out a restructuring, beginning from strategy, finance, human resources, management to corporate culture. It is because, in fact, many business owners are interested in only orders and daily affairs without paying attention to building a management system, so when these events happen, it is very difficult for businesses to transforming quickly to adapt to difficult circumstances or new business situations.
Assoc.Prof.Dr. Do Ngoc My - Rector of QNU delivers the opening speech for the business consultation session
Therefore, the Business Advisory Session taking place in the seminar's chain of events is to contribute research to solving the current problems in the economy, giving support to Vietnamese businesses in restructuring, and strengthening corporate governance and development towards sustainable development post-Covid-19 pandemic; promote scientific research in the fields of economics, business administration, accounting, auditing, and finance among researchers, lecturers, and students towards practical application in enterprises.
Speaking at the seminar, Assoc.Prof.Dr. Nguyen Truc Le - University of Economics, Hanoi National University, member of the chairing delegation also emphasized the urgency of the seminar in the context countries have identified the need to transform development from brown economy to "green economy" and consider this as the optimal choice for sustainable development in the context of global climate change; and proposed a stronger link between universities, scientists and the business community to support each other to promote green and sustainable development and growth jointly develop a foundation, adding that the economy had to be "truly green" for people, ensuring the highest welfare, achieving social equity and minimizing negative impacts on the environment and ecosystems, helping to embellish and develop natural ecosystems.
Speaking at the Business Consultation session, Dr. Vo Tri Thanh - Director of the Institute of Branding Strategy and Competition said that in a transforming world - Choosing corporate strategy/policy showed that the Covid 19 pandemic was having a very strong impact on people's lives, business activities of enterprises and the economy, especially in the tourism sector. The Covid-19 pandemic was breaking many link chains and forced businesses to undertake a restructuring of new supply chains. He affirmed that it was a challenge but it was also an opportunity for businesses in Vietnam to participate in the global chain of value. From it, enterprises had to face 8 tasks: (i) search for business opportunities, (ii) connect and accept competition, (iii) keep pace with the industrial revolution 4.0 and digital transformation, (iv) respect the law, (v) raise capital in a sophisticated, complex and diversified financial market, (vi) create trademarks and assume social responsibility, (vii) stand by the government and (viii) manage uncertainty/risk.
He proposed that to achieve sustainable development goals, businesses should focus on: (i) creating new product creation and marketing, (iii) Reshaping production and business methods, (iv) Focusing on diversifying investment fields and business modes, (v) promoting uncertainty management and proactively responding to risks, (vi) creating trademarks and assuming social responsibility,, (vii) standing by the government and (viii) managing uncertainty/risk.
Dr. Vo Tri Thanh - Director of the Institute of Branding & Competition Strategy does a consultating presentation at the seminar
Following the presentation at the Enterprise Consultation Session, Dr. Nguyen Van Duc - Deputy General Director of Picenza Vietnam Company, Deputy Head of Banking Faculty, Hanoi University of Business and Technology expressed his opinion on: Innovation and creativity in internal governance to improve productivity and potentials for the post-Covid-19 pandemic. The content of the advice was about (1) Innovating the mindset of Leadership & Business management, which included (i) Leadership and Management thinking of a manager, (ii) "Tripod" thinking in management, (iii) "Rule of law-based" thinking in management, (iv) "Customer" thinking in management and (v) "Advantage over comparison "in corporate governance. Based on this, he proposed that in management and management innovation, businesses should: (i) arrange work for personnel, (ii) create a disciplined working environment, (iii) create a working style. professional work Industry for employees, (iv) monitor activities in the enterprise, (v) motivate employees to work, (vi) improve to increase labor productivity and save costs. (2) Innovation in governance, with the suggestions of experts on (i) building a system of regulations, regulations for management and administration in a consistent manner, consistent with the specific activities of the business; (ii) developing a mechanism to closely monitor the implementation of the company's employees' rules and regulations; (iii) The management must set an example in implementing the internal rules and regulations of the enterprise; (iv) developing the processes of work and management for departments, divisions; (v) applying 5S in production management of enterprises; (vi) training and guiding employees to understand and apply the working procedures, work management procedures and (vii) imposing sanctions on cases of improper work and mismanagement.
Dr. Nguyen Van Duc, Deputy General Director of Picenza Vietnam Group Joint-stock Company,
Deputy Head of Banking Department, Hanoi University of Business & Technology makes a consulting presentation
There were a lot of opinions shared on the work of management and administration at the time of the Covid-19 pandemic. Mr. Le Phuong - Vice Chairman of Binh Dinh Young Entrepreneurs Association said that businesses were facing two problems, temporarily running down their operations to review the post-Covid-19 pandemic to make appropriate decisions being unable to meet the business goals, as time left was not much for the year 2020. Therefore, he suggested that experts need to consult the government and local authorities to come up with suitable policies so that businesses could easily access and apply, especially business support packages explaining that if businesses were let by themselves to do business during the time the Covid-19 pandemic ws raging, there would be a lot of potential risks such as stopping operating any time. At the same time, Ms. Nguyen Thi Mong Duyen - Hong Ha Binh Dinh Joint-Stock Company also suggested that experts need to give detailed advice on solutions to attract customers and motivate employees in the context that Covid was still at risk of recurrence and negatively affected business activities, etc. The Organizing Committee acknowledged that the proposals and opinions offered by experts satisfactorily answered businesses’ questions.
On behalf of co-organizers, Assoc.Prof.Dr. Le Anh Tuan and Dr. Vo Tri Thanh give flowers and commemorative medals to sponsors
Speaking at the consultation session, Assoc. Le Anh Tuan - Power University, member of the presiding delegation, on behalf of the Organizing Committee summarized the results achieved at the consultation session and proposed that businesses, while waiting for support from the government, need to proactively save themselves through business restructuring by immediately eliminating ineffective business activities, restructuring staff, promoting sales, seeking and joining new value chains, etc. At the same time, he expressed his sincere thanks to scientists and economic experts, businesses for their active and responsible participation for the development of economic science in general and green growth in particular.
Participants take souvenir photos at seminar's consultation session
Nguyen Ngoc Tien
CT