A mission for Vietnamese corporate leaders

Companies will last if they have a sustainable organization, where generations of excellent leaders keep on bringing differentiation.

Korea reminds us of Hyundai, Samsung brand names; Japan of Honda, Sony; the United States of Coca-Cola, GE, and Ford… These images associate with country image, representing their ways of thinking, management capability, development level and national culture.

All for the country

When the Chairman of Samsung Corporation was on his death bed, he was still heartrending about his company having not succeeded in making electronic chips. His last words to his colleagues on his bed were “Keep on your work on the chip! When it is done, put that chip on my tomb. Let’s do it for Samsung and for Korea”. Motivated by such a desire, all of Samsung employees spared no effort on the chip project. They finally made it.

In 1951, Akio Morita (the founder of Sony Corporation) came to Germany and was welcomed by representatives of Japanese community in a restaurant. When dessert was served, the representatives were proud of small umbrellas putting on ice-cream glasses that were Japan exports. In 1930, Japan could make cars. However, almost 20 years later, representatives of Japanese community in foreign country bragged about those small handicraft exports. Morita felt so ashamed. When returning to Japan, Morita shared his feelings to all of his employees. Since that, all of Sony employees worked their best to bring about today image of Sony.

In Vietnam, in 1909, Mr Bach Thai Buoi, a Vietnam national, operated his passenger transportation service on routes Ha Noi – Nam Dinh, Nam Dinh – Vinh by hiring three ships from the Marty Company. During his operation, he met severe competitions from foreign shipping companies and at some moment, he was on the edge of bankruptcy. However, with the heart of a national capitalist, he reduced the price to the lowest, named the ships after national heroes such as Trung Nhi, Dinh Tien Hoang, Le Loi… Local passengers were strongly attracted by these value propositions. His company became famous, expanded his market to Hong Kong, Singapore, Japan and Philippines, with more than 30 ships in total.

The above stories indicate that in order to build a national company, we have to build a force of corporate leaders, who strive for national pride in their work without differentiating between private or state-owned entities.

Devotion and vision is a must

Company leaders must be devoted and visional. Devotion is shown through focusing on benefits, maximizing added value for customers, good treatment and compensation to attract, maximizing long-term value for shareholders, conserving the environment and society, retaining and opening employees’ capabilities so as to turn them into company asset, changing consuming behavior of organization and employees. For example, leaders should adopt company policy that encourages employees to use goods made-in Viet Nam. When the majority does it, consumption of imported goods will be against the trend. Through the time, the habit to use local goods will become cultural identity.

Vision is to seek sustainable differentiation for company. To achieve this, company has to have a differentiated strategy, business model and function of products and service. They must keep on innovating, and be the first in predicting and solving customers’ problems on the base of devotion. Besides, company has to build a group of dedicated and capable employees.

Every leader, manager, innovator, no matter how excellent they are in creating differentiation, will pass away some time. However, a company will never stop existing if it has a sustainable organization, where generations of excellent leaders keep on bringing differentiation. Over the time, we will have national companies that every people are proud of.

Do Thanh Nam

Strategy consulting specialist

Tags: Vietnam companies, Vietnam enterprises