CASE OF VINGROUP JOINT STOCK COMPANY
After the economic crisis 2008 , many company bankrupted or closed in all areas . According to the statistics in Viet Nam had more than 79000 governance bankrupted in 2011, reduced to 58,000 in 2012 and 2013 increased more than 60 700 companies closed . Particular throughout the construction industry in 2013 at over 10,000 enterprises have ceased operations or solutions . However ,Vingroup is not only closed but also that business growth with high growth rates. So the question is :” How did Vingroup achieve such results, the issue of corporate governance in this?” I. Introduction
1. History of Vingroup
Vingroup Joint Stock Company (Vingroup JSC), formerly known as Technocom, was first established in 1993 in Ukraine by an ambitious group of Vietnamese youth. Technocom started its business with food production and soon became hugely successful with the brand Mivina. In the early 21st century, Technocom was ranked among Ukraine’s Top 100 largest and most powerful enterprises. From 2000, Technocom – Vingroup returned to Vietnam with a desire to contribute to their motherland’s development. With its long-term vision and perspective on sustainable development, Vingroup focuses on high-class tourism and real estate fields with two strategic brand names: Vinpearl and Vincom. Ten years after first coming back to Vietnam, Vincom became Vietnam’s No.1 brand-name in the real estate field, consisting of complexes of high-end shopping malls, offices and apartments in prime locations, which in turn created large modern urban complexes, and thus leading Vietnam’s trend of luxury smart eco-urban areas. As well, Vinpearl was the leader in the tourism industry with a series of international five-star and over hotels, resorts, beach villas, entertainment parks, golf courses. In January 2012, Vinpearl JSC., was merged into Vincom JSC., forming Vingroup JSC. With a constant effort from the beginning, Vingroup has truly honored Vietnamese brand names and is proud to be the nation’s leading private corporation built and successful thanks to the strong will and desire inherent in Vietnamese people. 2. Business
- Business Real Estate ;
- Rental Service offices , housing , machinery , construction equipment ; - Hotel business ;
- Entertainment and recreation: billiards, video games , water games , games on land , swimming ; - Beauty salon services ( not including work tattoo eyes and bleeding ) ; - Catering , refreshments ;
- Civil and industrial ;
- Trading in industrial , agricultural , construction , transport , electronics , information technology , refrigeration , civil , automation , protection devices to prevent theft auto , agricultural, forestry and fishery seafood ; - Buying agent , sales agent , consigned goods ;
- Investment Consulting ;
- Rentals has the equipment specification ( concert hall , theater , hall , wedding hall , studio , theater ) ; - Advertising and services related to advertising .
- Production , transmission and distribution of electricity . - Mining , processing and supply of water .
3. Vision and mission
Guided by its pioneering aspirations as well as a sustainable investment - development strategy, Vingroup has been striving to become Vietnam’s and the regions’ leading multisectoral business group, which aims to become a Group of international stature and standards. Vingroup aspires to establish its Vietnamese brand, demonstrating Vietnamese intellectual prominence and pride in the international arena. Missions
For the market: To provide premium products and services of international standards that are original, highly creative and embedded with local identities. In addition to its outstanding quality, each product - service contains a cultural message with a view to best cater for customers’ legitimate needs. For shareholders and partners: To enhance the collaborative spirit for mutual development; to strive to become “The...
Please join StudyMode to read the full document