sample of research business, Essays (university) of Research Methodology

Download sample of research business and more Essays (university) Research Methodology in PDF only on Docsity! HO CHI MINH CITY UNIVERSITY OF FOREIGN LANGUAGES - INFORMATION TECHNOLOGY FACULTY OF INTERNATIONAL BUSINESS ADMINISTRATION SCIENTIFIC RESEARCH REPORT TOPIC: ANALYZING HUMAN RESOURCE STRATEGY OF VINAMILK IN VIETNAM FROM 2016 TO 2018 Student’s name: Nguyén Huynh Phic Thinh ID Number: 18DH480818 Class: KN1802 Instructor: Dr. Nguyen Nhat Tan HCMC, December / 2020 List of abbreviations HRM VNM HR List of Figures Human Resource Management Vinamilk Human Resource Chapter 1: Introduction 1.1 Rationale Regarding the potential of the industry, Vietnam is considered to be a worthy dairy market to exploit with the amazing numbers it shows. In the market “liquid milk", if customers can meet the demand, it can reach more than 34,000 billion VND, while in the market "powdered milk" is more than 48,000 billion VND. This is both a great opportunity for Vinamilk to continue to develop and expand its market share, but it also shows that Vietnam is a competitive market and competitors will appear constantly. VNM has to continue to grow because as long as they stand still, they are lagging behind the rest of the competition and losing their market share. (VIRAC, 2020) Vinamilk's full name is Viet Nam Dairy Products Joint Stock Company is the business activity in Food Manufacturing. A big man in the dairy industry in Vietnam beside competitors such as: TH True Milk, Tan Hiep Phat, Nutifood and so on. Vinamilk (VNM) demonstrates its strength by gaining market in turn. 54.5 percent, 58 percent and 55 percent respectively in 2016, 2017 and 2018. (An, 2019) Human Resources is a very important part of every company. Through the analysis of the Western theories X, Y, Z we will understand more about human resource management. However, since management is still an art, not rigid, it is up to each administrator to combine the above theories. Through theory, we will learn the tips that leaders possess to apply and bring the company to success. (3 STUDY ON HUMAN MANAGEMENT: X, Y, Z, 2015) Vinamilk also has its own problems, despite being regarded as one of the places with the best working environment in the world. A common example is the possibility of not having a replacement. The explanation is that they did not find qualified talent promptly to replace former employees who worked at the company. (Annual Report , 2018) There have been many researches on VNM in the past. Two of them are "Evaluating brand openness according to the level of Vietnamese consumers of Vinamilk brand" (Lién, Thang, & Lién, 2014) through methods used to analyze the data on looking for industry potentials to assess the openness and development of Vinamilk. The second study is a study on corporate social responsibility performance at Vinamilk (Nam, Ngoc, & Tu’, 2013) with the aim of proving the social contributions of VNM after the successes of your own. 1.2 Aims The purpose of this study is to find the art of leadership, the differences in people management between VNM and other companies and how VNM's strategies operate to explain the results why they are always choosing Top selection to rank in the top best working environment in Vietnam from 2016 to 2018. This analysis builds secondary data from other studies, then through the statistical process and data selection. whether to give the best results. With the above purpose, at the same time we also want to find gaps and spread good and successful things that VNM has achieved to many young people and other company leaders to bring Vietnamese economy men go up. 1.3 Scope The article focuses on the research and information selection of articles from 2016 to 2018 in Vietnam market. Focus analysis on HR strategy and the successes of HR strategy for the overall development of the company. There is a bit of a limitation because these are data obtained from secondary data sources, there is not enough time and opportunity to approach and get statistical questions directly from VNM staff, so we have not gone into depth internal problems. 1.4 Significance of the study This study plays an important role in potential success formulas as well as the limitations in HR strategy that companies are facing. This analysis helps bystanders like us have a clearer view of the importance of HR strategy. For VNM, it will help them to further improve their strengths and weaknesses. From analyzing VNM's HR strategy from 2016 to 2018, the author has proposed a number of measures so that VNM can solve the problem of reducing a bit of pressure when working for its employees, creating in a competitive yet healthy environment. (History of formation and development, 2018) Vinamilk (VNM) is a large dairy company in Vietnam established on August 20, 1976. After many non-stop efforts, to 1995 Inauguration of the factory in Hanoi. Perhaps VNM has started to find its right direction by continuously opening more factories in places like Can Tho (2001), Binh Dinh, Saigon (2003), Nghe An (2004), and so on. Next, VNM opened a cow farm in Tuyen Quang (2006) and many other establishments were inaugurated in the following years. During its relentless efforts in business operations, Vinamilk was awarded many labor medals from the government. In 2014, VNM decided to take a risky move to foreign investment. They raised their shares in Miraka in New Zealand with the ambition to step out onto the foreign playground. Vinamilk also launched its brand in Thailand and Myanmar in 2016. In 2017, VNM was ranked among the 2,000 largest listed companies in the world. Not stopping there until 2018, Vinamilk continues to be in the Top 200 companies with revenue of over 1 billion USD in Asia Pacific. (Vinamilk, History development, 2015) 2.1.3 Mission, vision and strategy Vinamilk (VNM) wishes to continue to maintain its No. 1 position in the Vietnamese market. Besides, they also have a bigger ambition that is to try to be in the top 30 best dairy companies in the world in terms of sales. VNM is also ready for other mergers and acquisitions. This makes VNM stronger and stronger while eliminating some of their competitors. And VNM continues to show its ambition by entering the export market of wanting to become the most valuable dairy company in Southeast Asia. The mission of VNM is "To become the leading symbol of belief in Vietnam about health and nutrition products serving human life". “Vinamilk is committed to providing the community with top nutrition and quality with respect, love and high responsibility for human and social life”. (Vinamilk, Development strategy, 2015) 2.1.4 Scope of operation, product concepts and Competitive advantages: Vinamilk owns 7 subsidiaries and 3 associates, three of which are overseas. Some subsidiaries such as Driftwood Dairy Holding Corporation, Angkor Dairy Products Co., Ltd and so on. VNM operates two main distribution chamnels. The first distribution 10 channel (traditional channel) has nearly 220 independent distributors and more than 140,000 retail outlets. This channel helps to distribute nearly 80 percent of VNM's output. Vinamilk has opened 14 product showrooms in major cities such as Hanoi, Da Nang, Ho Chi Minh City and Can Tho to support the purchase and sale of this distribution channel. The second distribution channel is (modern chamnel) as a system of supermarkets large and small. Vinamilk has the advantage of being a system of dairy factories that are invested in many localities throughout the country. With more than 1,400 first-level agents and a distribution network spread across the country, with 5,000 agents and 140,000 retail outlets selling Vinamilk products as well as other direct distribution channels such as hospitals and supermarkets, schools and so on. In addition to Vietnam, VNM also expanded its influence to other countries such as Cambodia, the United States, Poland, New Zealand and so on. (Thu, 2019) With strong potential and a sensible strategy. VNM always diversifies its products in different small markets such as Vinamilk Liquid Milk market share with products such as 100 percnt Vinamilk fresh milk, Super SuSu cocoa barley drink and so on. Market share Powdered milk Vinamilk with products Dielac Optimum Mama, Dielac Alpha Golda and so on. Vinamilk Yogurt Market Share with Vinamilk Probi Yogurt, Vinamilk Pasteurized Drinking Yoghurt, Vinamilk and Vinamilk Su Su and so on. Vinamilk's nutrition products for children from 6-24 months old. And finally Vinamilk's market share of adult nutrition products with Vinamilk Sure Prevent, Vinamilk CanxiPro and so on. It is the variety of products and the small market shares that help create a unique and strong mark of VNM to consumers in the country and the region. Of course, besides pleasing customers, VNM is always a fear to its competitors. Depending on each market share, they have separate competitors. But competitors are strong enough and have them pay attention such as TH true milk, Tan Hiep Phat, Nutifood and so on. (Vinamilk, Product, 2015) a1 2.1.5 Market share 2016 gpi7 2018 8% 26% 98% 12% Figure 2.2: Milk market share from 2016 to 2018 in Vietnam (%) (An, 2019) As more and more rivals emerge on the market. It makes the rivalry fiercer, but by maintaining a market share of around 50 percent, VNM still retains its position. In particular, VNM still shows no sign of stopping and continues to retain its number one spot in Vietnam and expaining the international market. 12 It is these factors that will affect the company's growth. (AFC Institute of Financial Management, 2018) 2.4 Previous studies There have been many studies on VNM in the past. Three of them are "Evaluating brand openness according to the level of Vietnamese consumers of Vinamilk brand" (Lién, Thang, & Lién, 2014) through the method of analyzing industry potential search data to evaluate price of the opening and development of Vinamilk. This research helps to speed Vinamilk's scale expansion and development in the near future. The second study is a study of corporate social responsibility activities at Vinamilk (Nam, Ngoc, & Tu, 2013) with the aim of demonstrating the contribution to society of VNM after the company's successes. And the last one is the Analyzing Factors Affecting Customers' Loyalty to Vinamilk's Fresh Milk in Gia Lam, Ha Noi (Hoa & Quy, 2016) with the aim of finding out the determinants of customer loyalty to Vinamilk. This will be an important study to help ‘VNM's sales department have the right strategies to increase company revenue. 15 Chapter 3: Methodology 3.1 Research design 3.1.1 Features of secondary methods In analysis, the selection and collection of data is very critical, influencing the findings as well as the authenticity of a study. There are many different types of research data, but there are two prominent ones: primary and secondary data. So, what are primary and secondary data? How do them different? Secondary data is a type of data collected directly at a time in response to a research problem of a certain researcher. Each method of selecting data for research has its own pros and cons, but usually secondary data is always the priority for researchers to choose. Secondary data also has its advantages. This type of data has been used by scientists, sometimes ensuring the full professionalism and authenticity of that data. Secondary data is also collected very easily through websites, articles, ... (Sileyew, 2019) However, the secondary data has some drawbacks, such as the fact that the sources of misinformation from websites are not reliable enough. In addition, secondary data also has a weakness that the information is not updated continuously in each period to match the time of research. (Sileyew, 2019) 3.1.2 Reason for using secondary research method The use of secondary data in this study has an essential benefit of utilizing the experience gained through research papers and data available from previous researchers. There are also three very important benefits that make it a lot easier to use secondary data in this study. First, data is easily collected through the Internet or public library, ... Secondly, we can easily recognize false and inaccurate information after consulting through many data sources. of different researchers. The finally, equally important thing is to limit the cost of data collection as well as the time that we have to spend. (QuestionPro , 2017) Going back to this study, the importance of secondary data collection will help us get the most accurate figures and assessments of Vinamilk (VNM). These data will show 16 different changes from year to year, the sales increase or decrease, the market share increases or decreases. All of these things have a strong influence on the management apparatus of the Company and the HR management strategies that are indispensable in this success. 3.2 Source of data Secondary data is very diverse. We can easily access and collect them in places but: articles, data on live websites and especially the official website of the company, in the library, in books, in reports on the Internet, ... 3.2.1 Book and article: www.sciencedirect.com 3.2.2 Company’s website: https:/Awww.vinamilk.com.vn/ 3.2.3 The library, proquest: http://lib.huflit.edu.vn 3.2.4 Reports: http://CafeF.vn/doanh-nghiep.chn 3.2.5 Other online website The domestic websites have a high reputation and are widely used by other researchers. 3.3 Data collection To save a lot of time and money. The author has done this research through familiar channels and tools such as data system on Google tools, internal library system in schools and data systems on platforms and websites official. 3.3.1 Google tools Easily search and access articles, reports and books to explain definitions of research problems, solve sales figures, revenue... 3.3.2 Internal library system in school This is a valuable instrument for secondary data collection. In order to help get the right details, the data in the library is highly theoretical and diverse. 3.3.3 Data systems on platforms and websites official This data source allows to find basic facts, development history, and analysis with secondary data from market rivals without having to go to the company for research. 17 y «8 Sree VINAMILK fl #2 Unilever Vietuam Vinamilk HH fe ° pEPsico a mr tomae ine a #7 a #9 a0 ‘Vietiel Groep. Serggy Papen ‘Abbott Laboratories §.A Microsoft Vietnam PepsiCo Foods Vietnam Figure 4.1: Top companies with the best workplace in Vietnam 2016 (Hoa, Mai, 2017) In 2016, VNM was honored to be ranked second in the top companies with the best and most efficient working environment in Vietnam. The opponent they did not yet surpass was Unilever, a company with a very own management style that had certain successes at that time. 100 NOI LAM VIEC TOT NHAT VIET NAM 2017 Bes = oO «@ air y = fhcarleyy seis Ness Wana — acemanauene —_ Vietcombank ro THpdbanvinTherw Oudn BO Noga fing TYP Noo thuong Core ty TNH ge gl ks ELS NESTLE VIETNAM LTD iWiewte)” efetNam (ietsorrberk) ~‘boca'Cala viet Nem SUNTORY S — .___— Pepsico | (Q) sensston PEPsico pte asus tere sree oon : Cag ty TAH Meroedeo Bene Suntory Pepsico VietNam PepslGo Foods Vit Narn ie ‘Sersung Vine Electronics ASUS Vit Narn Figure 4.2: Top companies with the best workplace in Vietnam 2017 (Ha, Thi, 2018) 20 Continue to maintain strengths and weaknesses in management. VNM has officially become a place with the best working environment in Vietnam in 2017. This is a recognition for the continuous efforts of the leaders of VNM. du 100 VIETNAM BEST PLACES T0 WORK 2018 fa] ga = ga a GED etcomk a samsung = == i a a oS) a” ba “ee J ona BIDVG adidas a ASUS OTH «=P BOSCH Schneider = Tiki] Figure 4.3: Top companies with the best workplace in Vietnam 2018 (Ha, Thi, 2019) VNM understands an essential truth in business. Do not stop and continuously improve, if you stand still, you are falling behind your opponent. That is why VNM continues to top the ranking of the best places to work in the country in 2018. To bring all employees from the lowest to the highest levels. They even published a cultural handbook that was circulated internally, titled "Vinamilk's Journey". (annual report of VNM 2018) 4.1.2 Assessment. Although following the theory of personnel, management and employee behavior of the theory X. However, VNM has applied a very smart way and put everything in its own framework very VNM. If we keep all the requirements of the theory X. We can see that it is very dry and mostly aimed at the company interests in an ecstatic and unconcerned manner. In other words, the current salary is simply a compensation for the mental and physical fatigue of the employee. VNM has still used the theory of X very intelligently. 21 They care more about employees’ welfare they care not only employees but also their relatives. This creates a great motivation for employees to be wholeheartedly devoted to VNM. As for discipline or order, VNM always aims to make every employee aware of their enormous responsibility. Making that individual feel is also important to the company, not just a small employee. These things inadvertently have created a machine that is still operating in a smooth, highly productive and efficient manner, especially it comes from each employee, not the brutal suppression and control. from the leaders. The above factors have proven the reason why VNM still ranks at the top of the ranking of companies with the best working environment in Vietnam for two consecutive years 2017 and 2018. This is a huge success that VNM has achieved. well, on the other hand, they also make their opponents very wary and respectful. (Gregor, Douglas Mc, 1960) 4.2 Create awareness for employees 4.2.1 Performance In the old company culture, the superiors were the people in all power. That is why they never consider any other opinion, especially from their subordinates. In Z theory mentioned. A leader and manager must understand the personal situation realize the difficulties they are facing. It could be professionally it could be financial. Next, when knowing the problem, administrators need to take measures to help employees. This will make employees feel that they have not been abandoned and when they have overcome difficulties, they will be wholeheartedly devoted to the company. (Ouchi, 1980) Starting from 2016 and 2017. Vinamilk implements a motto "When an error occurs, the main reason is you, do not blame anyone". A statement is both deterrent, motivating employees to be more responsible for the job. Just creating a concept, we have to find a solution when we have a problem, not find someone to blame. VNM always tries to create a professional working environment. Every behavior from the smallest to the most important decisions is focused on by important leaders. Once the most difficult human problem is solved, VNM begins to focus on external factors. The philosophy of taking people as a base has been strengthened thereby leading to many unexpected successes. We can clearly see those successes in sales statistics. These are 22 Figure 4.5 Organizational structure and positions of management levels (Candela, 2008) As you can see in Figure 4.5 the only path for employees to reach top leaders and vice versa is middle management. It can be said that this is a very important position to connect and make an organization operate effectively. Recognizing this serious problem, VNM has taken very correct steps to not go into the parking streak leading to the failure of other companies. VNM builds an employee- oriented culture towards its employees. Create the best conditions for salary, bonus and facilities. However, everything needs to keep the standards and professional manners. Employees must always maintain the right attitude when working, open, friendly and enthusiastic. Following that, in the years 2016, 2017 and 2018. We can easily see that VNM began to focus on building policies and recruiting talent. There are regimes and incentives to expand resources as well as prevent these talents from falling into the hands of competitors’ companies. Not only that, VNM always does not want to keep too many talents but makes them disagree, which will cause the division of the company and affect productivity as well as data on market share and revenue. 4.3.2 Assessment It can be said that VNM is doing too well with its human resource strategies. They are not simply a good company in business, but also a very sophisticated and perfect machine. It shows that the leaders of VNM always put themselves in their employees, they take "people" as the base to go to success. Taking care of employees like a family makes them feel respected and important to the company. Not only that, VNM is also very mentally understanding that each employee has a small family behind. And having sanctions as well as preferential treatment to take good care of the employee's family also makes employees focus on dedicating to the company, taking the company as a reason to live and work. What helps limit a lot of the issues we discussed, is that the division as well as the individual decisions of managers or employees that could have a negative impact on the employees. to the maximum. (Vinamilk, Annual report 2018, 2018) 25 Although there are still many limitations that have not been reached to perfection, some internal shortcomings. But VNM deserves a template for organizing and creating a great working environment for other companies to refer. Chapter 5: Conclusion and Recommendations 5.1 Conclusion This paper analyzes Vinamilk's HR strategy (VNM) from 2016 to 2018. The author has chosen this topic to find out VNM's excellent leadership and human governance strategy. Find the downsides and some challenges of reducing pressure load and connect with employees through the right HR strategies. HR strategy plays a very important role not only in the HR department but also affects the whole company. A company with a good HR strategy will provide a strong foundation for growth, and this study will find gaps and shortcomings in a company's HR strategies to keep the company growing. This article focuses on elements in the art of human governance like the administrator's behavioral culture with subordinate employees. Next is the issue of managers must know to create awareness for employees. And finally there are middle management issues, who makes the connection between senior management and employees. These are the three basic and important factors that have been mentioned in well-known theories about HR management strategies. This article, however, has some restrictions while the author is doing research. The author uses secondary data to obtain various definitions and hypotheses from other writers with respect to HR strategy theory. The author uses secondary data as well as previous studies to check for details about the business. It saves time and resources to use secondary data, but secondary data is also processed, making it difficult to determine the quality and reliability of the source of the data. This paper searches for data via the university library materials because of time and location constraints. 26 5.2 Recommendations Vinamilk is doing its job very well. VNM always shows how admirable other competitors are in terms of HR management within Vietnam and Asia. However, VNM needs to solve some outstanding issues related to the relationships between employees and managers, giving employees a sense of closeness so that they can fully devote themselves to VNM. VNM can inspire its employees to do better by talking about the company's achievements or history of birth and development. Give employees a sense that they also have a responsibility to uphold and develop a common corporate tradition. This topic only focuses on HR strategy of VNM. So the author thinks that for the better, in the future, other authors can focus on other areas of human resources. Going into more detail and detail. For example, the way VNM recruits talents or keeps talents for a long time, this makes VNM an excellent and competitive workforce that makes competitors wary. Besides, the author should also exploit more ways that VNM has been doing and is not doing well that need improvement so that VNM can overcome and go further on the path to its goals and success. 27