Introduction To Management: Analyze Managerial Skill of PHAM NHAT VUONG

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The document analyzes the managerial skills of Pham Nhat Vuong, the founder and chairman of Vingroup, through his roles and principles in managing the company.

The four main functions of a manager are planning, organizing and staffing, leading, and controlling.

Pham Nhat Vuong applies principles like caring about employees, setting high expectations, and learning from mistakes.

INDIVIDUAL ASSIGNMENT

INTRODUCTION TO
MANAGEMENT
Analyze managerial skill of PHAM NHAT VUONG

NAME: ĐỖ PHƯƠNG LINH CHI


STUDENT ID: HS153159
CLASS: MC1504
COURSE: MGT103
LECTURER: ĐÀO TRỌNG KHÔI
SUBMISSION DATE: OCTOBER 30, 2020
WORD COUNT: 1327

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Contents

I. INTRODUCTION 3

II. ANALYSIS AND FINDINGS 3

1. Literature review 3

2. Explain the manager’s roles and his problems 4

a. The reason why he is a great manager 4

b. The principles he applies to manage others 4

3. Summary of his contribution to the success of the organization 5

III. CONCLUSION 5

IV. REFERENCES 5

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I. INTRODUCTION

According to “What Management Is” published by Joan Magretta in 2012, whether we


realize it or not, each one of us stakes our well-being on the execution of management. On
the off chance that we need to create superior choices approximately the organizations we
connect, support, contribute in, or begin, we must know concretely what management is, and
when it is sweet or awful.
This report is reaching to analyze the critical part of a manager through an observation with
four main functions which are planning, organizing and staffing, leading, and controlling. It
was divided by Andrew J.DuBrin in “Essentials of Management” in 2008. This manager is a
great manager of a Vietnamese conglomerate focusing on real estate development, retail and
services ranging from healthcare to hospitality named Vingroup Joint Stock Company.
Currently, this company has 48 subsidiary companies. It is now in the stage of improving the
core values.

II. ANALYSIS AND FINDINGS


1. Literature review

The goal of this literature review is to clarify the elements that make him become a great
manager and the principles he applies to control his workflow management. First of all, a
manager is a person responsible for the work performance of group members (DuBrin, 2008).
A manager who cares about the people that they work with, being considerate of the people
that they work with, talk and listen to their team members and being motivational is a great
manager (What makes for a great manager?). Besides, they are also responsible for working
on a goal or set of goals. In this case, Vingroup has a goal to become a Group of Technology
- Industry - Trade and Service leading the region. Moreover, a great manager ought to
likewise interface with different groups in investigating and handling business troubles of
organization.
In addition, according to Andrew R. Thomas, there are 5 main principles a great manager
applies: does the right thing for the right person, sets their expectations higher than their
boss’s expectations for them, never makes the same mistake twice, goes to their boss with an
action plan, not a problem and follows up (The 5 principles of a great boss, 2019). In this
case, Mr. Pham Nhat Vuong is the founder and chairman of Vingroup so his principles are
somewhat different from usual.

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2. Explain the manager’s roles
a. The reason why he is a great manager

Firstly, he cares about his employees. “Each employee is an ambassador” – he said


(Billionaire Pham Nhat Vuong: "Each employee is an ambassador", 2017). It means that
employees are working for the whole system and representing the whole system, being the
image of the whole system. When the leader instills them that spirit, they must realize it and
perform well in daily work.
Secondly, he is considerate of his employees. In a complicated situation of COVID19,
VinFast employees told that they were willing to take no salary and he replied that the group
still has to pay the full salary and support for its employees because they still have to take
care of their families. (VinFast staff asked not to receive salary because of Covid-19 and Mr.
Pham Nhat Vuong's answer, 2020)
Thirdly, he always listens to and communicates with his employees. He uses a variety of
reward and punishment policies based on the understanding of the employees in the
company. That is the proof that he is always observing, listening to employees. Vingroup
thus becomes one of the best places to work in Vietnam (Why is Vingroup in the top 100 best
workplace in Vietnam?, 2018).
Finally, being motivational is one of the most important things that make Mr. Pham Nhat
Vuong achieve success. Starting from a restaurant business in Ukraine, producing instant
noodles, expanding the area of the factory, establishing a company specializing in the
construction of high-end commercial centers and houses, Mr. Pham Nhat Vuong’s motivation
is the “key” to open the door to success.

b. The principles he applies to manage others

In my opinion, there are 3 main principles he applies to manage others: do the right thing for
the right person, never make the same mistake twice and never stop following up.
One of the reasons that testify to the thing he does is right for the right person is choosing
women for many important positions in the management apparatus, the same with the way
Jack Ma manages Alibaba. Because “Women are Alibaba’s secret sauce, women care for
others much more than men” – Jack Ma (“Hire as many women as possible” – Jack Ma’s
secret of Alibaba’s success, 2020).

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Sets his expectations higher than his boss’s expectations for him is one of the most factors
that a great manager should have. Because Mr. Pham Nhat Vuong is the head of the group,
his “boss” seems to be the customers. When customer needs and expectations are increasing,
his expectations must be higher than those of customers. Because when that ratio increases, it
is enough to meet the needs of customers and can develop further.
The evidence to make sure that he never makes the same mistake twice are the evolution of
the group and the success of the products. For example, Vingroup “ecosystem” such as
Vinhome, Vinpearl, Vinsmart, VinUni has become an indispensable part of life, helping
Vingroup's financial activities revenue increase by 2.6 times in Q1/2020 (Vingroup's
financial activities revenue increase by 2.6 times, 2020).

3. Summary of his contribution to the success of the organization

Mr. Pham Nhat Vuong – Founder and chairman of Vingroup, Vietnam's first billionaire, the
richest person in Vietnam – has an excellent contribution to the success of the organization
and the country. Thanks to his great leadership, Vinhomes is the No. 1 real estate brand in
Vietnam, VinFast expands its business in many different markets, VinEco develops across
provinces through an association model with 1,000 households. Farmers, Vinpearl has
developed into a unique "pure Vietnamese" 5-star entertainment tourism ecosystem. Vinpearl
Air was launched with the promise of becoming the sixth airline in Vietnam.

III. CONCLUSION

This report has fully analyzed the great manager’s role and principles he applies to manage
others through the observation. A great manager is one of the most important positions and
key roles of a company. It is not easy to complete these roles because in short, it is a very
intense activity and extremely time consuming. Moreover, a professional manager also needs
experience and a sensitive mind to deal with a lot of other problems.

IV. REFERENCES

1. Magretta, J. (2012) What Management Is, pp.17.

2. DuBrin, Andrew J. (2008) Essentials of Management, 8th edition.

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3. What makes for a great manager? [online] Available at: https://www.greatmanager.co.uk/
[Accessed 16 Oct. 2020]

4. Thomas, Andrew R. (2019) The 5 principles of a great boss. [online] Available at:
https://www.ehstoday.com/safety-leadership/article/21920408/the-5-principles-of-a-great-
boss [Accessed 16 Oct. 2020]

5. Hồng, N (2017) Billionaire Pham Nhat Vuong: "Each employee is an ambassador"


[online] Available at: https://nhadautu.vn/ty-phu-pham-nhat-vuong-moi-nhan-vien-la-mot-
dai-su-d374.html

6. Chiêm, K (2020) VinFast staff asked not to receive salary because of Covid-19 and Mr.
Pham Nhat Vuong's answer [online] Available at: https://ndh.vn/doanh-nghiep/nhan-vien-
vinfast-de-nghi-khong-nhan-luong-vi-covid-19-va-cau-tra-loi-cua-ong-pham-nhat-vuong-
1272324.html

7. Vieclam24h (2018) Why is Vingroup in the top 100 best workplace in Vietnam? [online]
Available at: https://vieclam24h.vn/cam-nang-nghe-nghiep/vi-sao-vingroup-thuoc-top-100-
noi-lam-viec-tot-nhat-viet-nam

8. Jack Ma (2020)“Hire as many women as possible” – Jack Ma’s secret of Alibaba’s


success [online] Available at: https://www.youtube.com/watch?v=xv-C5j8TY9c

9. Thành, K. (2020) In the first quarter of 2020, Vingroup's revenue from financial activities
increased by 2.6 times [online] Available at: https://baodautu.vn/quy-i2020-doanh-thu-hoat-
dong-tai-chinh-cua-vingroup-tang-26-lan-d121168.html

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