For years, in Ho Chi Minh City, big shopping centers, such as
Diamond, Parkson, Vincom, and Now Zone, were the places many people
wanted to stroll around when feeling the need for entertainment or
bored.
But now, those who want to entertain themselves by walking around
such places, may get sadder, as the unexciting shopping atmosphere
caused by falling demand is haunting those shopping spheres.
“Take this! The popular trend is belts with big buckles.”
“Take it please, we are selling at a discounted price, VND800,000 each. Normally we sell it for a few million dong.”
This was heard at the Polo booth selling belts, and wallets at
discount prices at Parkson shopping centers on Le Thanh Ton Street in
District 1. Two employees were trying to persuade a customer to buy the
belt.
The customer excitedly took the belt out of the box, but then fitted
it on her waist and turned around tentatively. The group started to
laugh out loud.
The customer, who wore the uniform of an employee there, turned out to be an employee of a neighboring booth, Alain Delon.
VietNam Best Guide
Friday, June 15, 2012
Professional Hello to Vietnamese Business People
Vietnamese economy relies on other
countries for import products such as petroleum products, vehicles,
heaving engineering, and electronic equipment. In the meantime, the
country did export textile, furniture, rice, coffees and many other
products worldwide. This bilateral transaction had force both Vietnamese
and foreigner partners to “meet and greet” in order to sustain the
business relationship.
Professional Greetings

Dress to Impress
You might be heard the term “Dress to
impress.” Business suit with conservative colours such as black, navy
blue and dark grey is perfect. You will observe Vietnamese businessman
like to wear a white shirts matched with red or maroon neck tie in many
formal occasions. During summer, you may attend casual meeting by
wearing Polo T or short-sleeve shirts with black pants or khakis. Be in
mind that your Vietnamese partner will spend their first 30 second of
meet up to screen your appearance before moving to the meeting agenda.
Labels:
Vietnamese Business People
Location:
Hồ Chí Minh, Việt Nam
Financial Stress: Wake up Call for Small Entrepreneurs
Financial stress may happen to small
enterprises or multinational organizations. As a small business, you
might have a small network and less reputation and slow business
operation will result a financial stress.
You have to get real when you are under
financial stress. Detail analysis such as current profit, liabilities
& asset and current debts need to be done to see where your company
stand is financially. By doing profit and loss report, you will measure
your source of income and review your expenses. From here, you may cut
some of the unnecessary expenses and strengthen your financial.
Reset your Goal
Re-evaluation of your company’s mission
and vision will bring you back on the business track. The business goal
must be matched with your current situation and have a relevant time
frame to achieve. You may work on short-term goal and merge it with your
long-term mission. Taking step by step action will alleviate your
financial stress, and your business will be easy monitored.
Franchise as a Business in Vietnam
We always hear that franchise is a
“money making” business. Franchise is a strategic relationship between
groups of connection with objective to dominate the market and
attracting more customers from the competition. It can be considered as
business strategies which apply to gain and
sustain their consumers by creating an image to current and future
consumers. However, there are some wrong mindsets about franchise
business such as, thinking that become a franchisee is “buying a
franchise”.
The fact, franchisee are investing
their asset in the franchise system to use the brand, operation system
and continuous support from their franchisers. In Vietnam, popular
franchisers such as Pizza Hut, Shop & Go, Circle K and Lion City
Restaurant are aggressively expanding their business by using this
franchise system.
Understanding The Concept of Saving Face in Vietnamese Culture

The Concept of saving Face
First of all, let’s describe the concept
of “face” in Vietnam. It’s a combination of reputation, social
standing, dignity and individual honors. “Losing face” is an action to
cause someone look down in front of their friends or community and
“building face” is the process of making someone feel good in front of
others. This is totally different compared to Western cultures which is
very outspoken towards any matters. However, in Vietnam, building face
will come first during early stage of business meeting before proceeding
to the real deal.
Making Noise
Shouting or arguing in public is
strictly prohibited. This scene wills actually making the person lose
face toward bystanders through embarrassment. Even when you feel
frustrated, it is better for you to calm down and be patient until both
parties get a solution. For Vietnamese, at least small compromise can be
considered as a solution.
Labels:
Vietnamese Culture
Location:
Hồ Chí Minh, Việt Nam
Executive Search: Get Local Talent with International Competencies
Current economic growth had attracted
numbers of worldwide Foreign Direct Investment (FDI) to Vietnam. This
positive growth had contributed towards human capital development in
organization and challenging recruiters to be more competent in sourcing
suitable candidates for the company. Assigning Executive Search &
Job Placement Agencies such as Navigos Group, Adecco and Vietnam
Manpower Solution is another option for employers to speed up the
recruitment process and engaging the best person on board.
Specialization by Industry
In every organization, there will be
various division and vacancies which need recruiters to be expert in the
area. For example, one Executive Search agency may specialize in
banking and financial recruitment and some other may be good in
pharmaceutical industries. By using Executive Search agency, they know
the market and most of Executive Search Company are very focus on
certain industry which is general HR did not.
Skill Oriented
Headhunters are target oriented. One of
their missions is to fulfill their client’s recruitment assignment
within the timeline. Headhunters have a professional skills which is
normal HR people do not posses or use very often. Headhunters are
trained with skills such as how to cold call candidates from competitors
and how to qualify whether the candidates are interested with any
carrier movement opportunities.
Labels:
International Competencies
Location:
Hồ Chí Minh, Việt Nam
Umbrella-ing your Business in Vietnam with Insurance

You may choose to work with insurance agent from your provider of choice such as Prudential, Baoviet Insurance or AIA Insurance or professional Insurance Broker such as Grass Savoye Willis Vietnam or Jardine Lloyd Thompson (JLT Asia). Some professional prefer to work with brokers as they are not only limit themselves with one insurance and as a broker, they are good in customizing your insurance policies according to your needs.
In summary, insurance is a must in order to minimize your business risk and gaining trust from your subordinates and clients.
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