Topic 1: FIRST IMPRESSION

1. What should we do to create good first impressions in business?

=> pretty much that people would come up with the appearance. But I don’t think that it’s the
appearance that matters much in business. I mean you don’t need to look so polished with
over-dressed-up clothes or wearing too much makeup to feel confident. I mean I would usually
go with the attitudes for the first time such as punctuality (there is a saying: if you arrive at a
meeting 5 minutes before…), or the way that you show your confidence but at the same time,
you show the respect towards the others as well.
2. Do you think we are prejudiced and stereotyped when judging people by their first
impressions?
Yes. Of course. I mean we can’t fully judge someone based on what we think. A person is
perceived differently with different aspects that we consider. But our first impressions are usually
formed just a few seconds after we communicate or even just by observing them without any
real interaction. So it’s not an understatement that we are all prejudiced when judging someone
based on our first thoughts.
3. Should we trust our first impressions?
Absolutely not. We manage to do this with little effort, inferring stable character traits from a
single behavior, like a harsh word or a clumsy step. I also heard that we tend to outweigh
negative moral behaviors than positive ones. So first impressions are usually not something that
I rely on to judge someone. A person is perceived differently with different ways that we
approach a person so I kinda try to get further interaction with that person like more personal
talks, to actually decide if the person is worthy to work with or be friends with.
4. Have you ever tried to make a great first impression but completely messed it up?
Yes. I suddenly recall a pretty memorable interview that I had when I was a freshman. So that
interview was my first ever one so I tried really hard to make sure everything looks perfect. I had
classes in the morning and the interview took place that afternoon. I had a very elegant white
blouse that day. But things got out of control when I decided to have something in my stomach
before hopping to the interview. I was lining up to get my food but unfortunately, a guy standing
in front of me was trying to turn back to get the bottle of soy sauce. I think he was trying too hard
that he dropped his tray of chicken soup and it got all over my shirt. Both of us looked panic. I
was frustrated but since he didn’t mean to do it so I had to accept that it was my bad luck. I
knew that I wouldn’t make it to get back home and get my clothes changed so I just went
straight to the interview. I tried to explain for the interviewer to understand the disaster that
happened to me and she was like ok, no worries about that. But the moment I took off my
jacket, I could see her shocked eyes looking down the mess. I offered to put my jacket on but
she kept saying something like “it’s okay but I have never seen anything like this before”. I got
so nervous that I didn’t know what to do with my hands but covered up the chicken fat spot on
my shirt and she was trying not to notice. It was like a comedy show, I swear I tried really hard
not to burst out my laugh. Eventually, I didn’t get that job but I guessed that was fine.
5. In what jobs do people have to make very quick decisions based on first impressions?
- Jobs need appearance like models, PG, salesman (the quickest impression is based on
appearance)
- Other skills are also needed but appearance is a priority.
_____________________________________________________________________

Topic 2: EMPLOYMENT TREND

6. What are the 5 fields with the heaviest demand for workforce in the next 10 years in
VietNam?
- Pharmacy (covid-19, people pay more attention to health)
- IT (industrial revolution, AI applications)
- Engineering (evergreen field, move the world)
- Translation - interpretation (global integration, improve efficiency of the work)
- Environmental Management (everyone becomes more environment-conscious)

7. What are the top 3 important soft skills for the workforce in the next 10 years around
the world ?
Time management (So as I can tell that through the pandemic of COVID-19, I believe that
working from home has sprouted and will soon be a thing in the future of work. Time is an
expensive resource, especially now that the lines between work and life have merged​. Time
management will be a critical soft skill as the traditional ​9 to 5 work hours become obsolete​.
Therefore, it’s crucial to have a strong grasp of how you spend your time (whether for work or
for your personal life), which help ​prevent burnout, stress, and anxiety.​)

Communication (never outdated, different kinds, other skills related to communication)

Stress management (technology advancements allow people to do things more easily ->
increase in the amount of work)

8. What are the potential benefits big corporations can offer its staff around the world?
- Paid time off (combat burnout)
- Insurance (health, vision,..)
- Retirement savings plan
- ​Training
9. What are some key strategies for retaining employees in companies? Give specific
examples.
- Investment in employees’ professional development (opportunities to learn -> future career
growth, conference, workshop, in-house mentoring program)
- Offer a benefits package that is truly beneficial (health insurance, financial incentives, child
care; solicit feedback, customize benefits options because of different demographics boomers
vs millennials)
- Culture of open communication (morale improves when free to speak, managers are
committed to open, transparent and respectful -> trust in senior management)

10. What are the roles of headhunters in a labor market?

- Intermediary to link talents who are unable to find suitable jobs and firms that need those kind
of talents.
- Job allocation can be more efficient thanks to head hunters.
_____________________________________________________________________
Topic 3: ETHICS
11. What are the major issues that bussiness faces today?
- ​Accounting ​(cooking the books especially in publicly traded firms; inaccurately reported its
financial statements and its auditor for tax evasion purpose)
- ​Technology/Privacy (developments in technological security capability -> being monitored by
computers and company provided electronic devices; ensure efficiency but when does it cross
the line and become spying?; companies ain’t keep this a secret; should review how they are
being monitored)
- ​Health and Safety (occupational accidents or work-related diseases; physical harm isn’t the
only safety issue -> the rise of psychosocial risks and work-related stress; job insecurity, high
demands, imbalance of effort-reward, low autonomy -> associated with health related behavioral
risks: heavy alcohol consumption, increase in cigarette, eating disorders)

12. What are advantages and disadvantages of business ethics?

ADVANTAGE ​(customer, employee, investor, society)
- ​Provide a competitive advantage in terms of customers (customer feel better parting their
money into such products. ex: fashion brand whose clothes are sourced, designed and
produced in environmentally-friendly ways; a print company uses sustainable sourced materials,
undamaged environment printing processes, labor,..; it can be unique selling point: boost
company reputation -> boost sales)
- ​Improve employee happiness (comfortable, not want to be partially responsible for any
unethical consequences (deforestation or poverty due to underpay laborers; not only retain the
human resources but also increase competitive edge regarding recruitment)
- ​Attract more investors ​(know that firms work with prioritises having high morals -> money is
being used in a responsible way and head to a sustainable development in the long-term)
- Better for society ​(care about behavior, impact and environmental footprint -> better for whole
society; ex: print comp. cares about sourcing its materials sustainably like the stock (paper,
card) is sourced in a way not affecting the environment so for every tree cut down for stock,
another one will be planted in its place; producing environmentally-friendly products like
sustainable inks or energy saving printers; laborers are paid appropriately to ensure their
business doesn’t damage the locals’ lives)

DISADVANTAGE ​(limited ability to maximise profit, time-consuming)

- ​Limited ability to maximise profit (ex: having factories in developing countries -> reduce
cost bc can have unethical but legal practices in those countries: child labor and low wages; not
an issue for large firms but for small firms who are evolving)
- ​Time consuming to implement the practices (developing implementing and maintaining ->
time consuming, especially if a company has previously followed unethical practices; these
practices need to be updated according to changes in regulations)

13. What are the principles of business ethics?

- ​Transparency ​(honest and transparent in all communications and actions; not only truthful,
but also candid and forthright; not deliberately mislead or deceive by misrepresentations,
overstatements, partial truth (2 half-truths dont make a truth); supply relevant info and correct
misapprehensions of fact)
- ​Integrity ​(earn the trust of others through personal integrity; refers to a wholeness of character
demonstrated by consistency between thoughts, words and actions; maintaining requires moral
courage, the inner strength even when it may cost more; fight for their beliefs and do not
sacrifice principle for expediency)
- ​Promise-keeping ​(make reasonable effort to fulfill the letter and spirit of their promises and
commitments; not interpret agreements in an unreasonably technical or legalistic manner in
order to make excuses or create justifications for escaping made commitments)

14. How do you recognize an ethical organization? (trả lời giống câu 13 cũng được)
- ​Customer focus (if a company does not produce what people want and will pay for, there is
no point to that company -> reinforces the responsibility firms have to the market; firms’
decisions affect its stakeholders (people, investors, partners and customers); -> serving all of
these people is part of firms’ ethical responsibility)
- ​Results-oriented ​(not aim for results at any cost, rather, work on achieving results within
company values (protect environment, well paid wage); results attained in the context of
developing what customers want, and producing and delivering it at a fair price to all the parties
involved). Results are more than just numbers. They are benchmarks and lessons for the future
as well as goals for the present.
- ​Risk-taking (that ethical companies are timid and mousy, scared of doing the wrong thing is
simply not true; great companies innovate, they think "out of the box", and they try new things.
They re-invent themselves and they reward the risk-takers. As long as firms stick to
philosophical guns, risk-taking poses no threat to their ethics.)

15. Explain ethics in Advertising

Ethics in advertising is important, because by acting ethically with their advertising, a company
is being ​responsible towards the needs of the customer -> evens the playing field for the
consumer (giving them the info to make an informed decision on what products to buy); show
that firms have morals when advertising to consumers -> makes consumers’ feel like the
company cares about what they need and protected by a company who make a difference to
the community they work in.
Ex: Toms - a brand selling shoes: provide a pair of shoes for someone less fortunate every time
someone buys a pair of shoes from them. ​A new trend in marketing: make consumers feel
like they are contributing to society's welfare​. This is exciting for people - especially
millennials, because they feel like they are making a difference in the eyes of others. Toms
made this commitment to help the global community and as a result, have created ​a sense of
global community around their brand. ​Rather than giving the less fortunate money​, Toms
gives them something they can use that will be of ​longer-term benefit to the people they are
trying to help. They could just donate profit to the people, but that would only help them short
term, like the old saying about giving a man a fish versus teaching a man to fish.
_____________________________________________________________________

Topic 4: CONSULTANT
16. What does a consultant do? What general responsibilities does a consultant have?
Consultants ​offer advice and expertise to organisations to help them improve their business
performance in terms of operations, profitability, management, structure and strategy. The work
stretches across ​a variety of areas​, including management, strategy, IT, finance, marketing,
HR and supply chain management.
General responsibilities include​: Research, analyze, detecting issues -> solutions, assesing
pros and cons of each, presentation, make recommendations, implementing, develop further

17. What are the key skills for a successful consultant?

- Problem-solving ​(the role often involve problem solving without a great deal of advance
information on issues presented; ex: conflict resolution among employees, assisting in the
creation of a business plan for a self-employed man or woman, analyzing bookkeeping
practices of a company or providing training in a variety of fields)
- Communicating clearly and empathetically (​have some solutions -> the recipients value
your ability to communicate those answers clearly, concisely and with empathy. Empathy:
demonstrating a willingness to hear how a problem is affecting the employees personally. For
example, if your consultancy is focused on improving efficiency in a restaurant, the cooks,
servers, hostesses and kitchen workers will be the ones to carry out your suggestions. When
you can show kindness and understanding while clearly outlining the changes those workers
need to make, they are more likely to respond favorably and ​accept the work they should do​.
- ​Thinking conceptually and practically (Conceptual thinking: visionary and innovative.
Consultant might ask ​provocative questions ​in a group brainstorming session to help others
think conceptually and formulate inspirational touchstones for the company to believe in.
Established your vision -> your practical-thinking skills will allow you to help others ​transform
vision into actionable items and deliverables​: outline a specific strategy that narrows a
business’s focus; help them organize projects into their component parts, and assign tasks
based on broad ideas that have been customized for your client.

18. Should a company develop internal consulting or external consulting?

I would say that I prefer building my own consulting system -> reduce the dependence on
advisory firms -> reduce costs. They also understand the organization well and consider
carefully giving any advice and implement the strategy because they are directly involved and
affected by its result -> reduce moral hazard problems.

19. What are the benefits and drawbacks of internal consulting?

Advantages of internal consultants
- ​Cheaper ​(the cost of internal strategy advisors for a typical project is four to six times lower
than the rates of external consultant).
- ​Have a better understanding of the organisation they advise (In addition, internal
consultants have existing relationships with other employees within the organisation, improving
their means and channels of communication)
- More often involved with the realisation of their own advice

20. What are the advantages and disadvantages of external consulting?

Advantages
- Regularly draw from a broader business perspective gained from their vast experience with
various clients, markets and sectors, and bring new ideas and best practices along to clients ->
reduce trust issues
- Furthermore, advisors often work for specialised consulting firms, frequently with the biggest
names in the market, and are regarded as credible advisors due to their track record -> higher
level of expertise and experience
_____________________________________________________________________
Topic 5: STRATEGY
21. How important is it for a business or organisation to formulate a strategy?
- Gives direction​: Setting out a well-planned business strategy will ensure your entire
organisation is working towards the same goals and instills a sense of shared
responsibility​ amongst employees.
- ​Creates a measure for success (measure organisation’s performance and growth against
the desired goals -> measure success and better identify areas that require improvement in
future)
- ​Increases adaptability (innovation-focused society -> need to be responsive to change ->
predict and meet the changing demands of the current market; analysing and reviewing
customer’s expectations and needs -> better identify new market trends and adapt their strategy
as required)

22. What factors should be considered when a firm devises a business strategy?
- Scan your internal environment (realistically identifying ​strengths and weaknesses ​of
internal factors include finances, human resources, machinery and equipment, culture and
operational protocols)
- ​Assess your external environment​: In the external environment, identify opportunities and
threats. These may be related to political, economic and demographic factors that are outside of
your control but still affect the business.
- ​Define your competitive advantage​: Find the unique position that your business can occupy
relative to its competitors and given its strengths and weaknesses and the surrounding
environment’s opportunities and threats.
- ​Make SMART goals​: When using your assessment to form business goals, formulate goals
that are specific, measurable, actionable, realistic and have a time element.
- ​Account for your personal and business goals: Personal goals represent the individual
objectives of management, staff and others involved in the business. Such goals may include
earning money, contributing to the community, developing professional skills, having time
available to spend with family or advancing a given industry. When setting business goals,
ensure that ​business goal achievement will enable the people involved in your business
to realize their personal goals.

23. How regular should a business strategy be reviewed and updated?

The scheduling for the strategic planning process depends on the nature and needs of the
organization and the its immediate external environment. Planning should be carried out
frequently ​in an organization whose products and services are in ​an industry that is changing
rapidly (fashion, technology, etc.)​. In this situation, planning might be carried out once or
even twice a year and done in a very comprehensive and detailed fashion (that is, with attention
to mission, vision, values, environmental scan, issues, goals, strategies, objectives,
responsibilities, time lines, budgets, etc). On the other hand, if the organization has been around
for many years and is in ​a fairly stable marketplace​, then planning might be carried out once a
year and only certain parts of the planning process, for example, action planning (objectives,
responsibilities, time lines, budgets, etc) are updated each year.

24. Who should be involved in deciding a company’s strategy?

Strategic decision makers who include chief executive officers, chief financial officers,
controllers, presidents, vice presidents and directors in any organization, including small
businesses, have several responsibilities that others in the organization do not share. Because
strategic decision makers manage organizations from the top, failure to fulfill their
responsibilities results in poor overall management of an organization and its eventual demise.

25. If a company wishes to enter new markets, what kind of strategies can it adopt?
- Direct Exporting​: Direct exporting is selling directly into the market you have chosen using in
the first instance you own resources. Many companies, once they have established a sales
program turn to agents and/or distributors to represent them further in that market. ​Agents and
distributors ​work closely with you in representing your interests. They become the face of your
company and thus it is important that your choice of agents and distributors is handled in much
the same way you would hire a key staff person.
- Franchising​: Franchising works well for firms that have a repeatable business model (eg. food
outlets) that can be easily transferred into other markets. Two caveats are required when
considering using the franchise model is that your business model should either be very
unique or have strong brand recognition that can be ​utilized internationally and secondly
you may be creating your future competition in your franchisee.
- ​Piggybacking​: Piggybacking is a particularly unique way of entering the international arena.
This ​reduces your risk and costs because you are essentially selling domestically and the
larger firm is marketing your product or service for you internationally.
_____________________________________________________________________

Topic 6: NEW BUSINESS

26. What qualities determine whether you have the ability to start your own business?
(Willingness to sacrifice, interpersonal skills, leadership ability, optimism…)
- Business confidence (must have quality when facing failures; maintain self-belief by accepting
that there are some factors beyond control)
2. Initiative
Obstacles may be overcome by a pro-active approach. Entrepreneurs anticipate problems and
solve them in a pragmatic way.
3. Clear Goal Setting
Successful entrepreneurs are driven to achieve ambitious targets. They tend to perceive money
as a measure of their success and not as their end goal. When they have made their first
million, they do not retire. Instead, they focus on making their next million.
4. Communication
The ability to influence, convince and inspire. Successful entrepreneurs can tell a story and
make it believable. They have natural integrity and charisma.
5. Use of Resources
The ability to get the most of the resources available. All businesses have resources such as
people, information and equipment. A good manager will juggle these resources, use feedback
and delegate effectively to ensure that profits are maximized

27. What is the most important aspect of a new business?

Cost Structure ​(pretty much new businesses have limited capital -> a thorough research on the
standard cost factors within your industry not only helps you manage your business more
effectively, but also provides your investors with the information they need to partner with you)

28. Can you suggest some ways to get a new business funded?
- Friends and family ​(seems like a daunting prospect—but tapping those closest to you is often
a good first step ​before getting external funding -> should have a business plan (what you’re
selling, what you plan on charging, how you’ll make money, and whether you’re asking for a
loan, an investment, or a gift)
- ​Angel investor (A good place to start is angel investors, usually established business
professionals with high net worths who are looking to invest in promising companies. Typically,
an angel will invest anywhere from $10,000 to a few million dollars. In addition to making direct
loans, angel investing groups sometimes host events or competitions that can help provide new
entrepreneurs with additional networking opportunities
- Venturing into Bigger Capital ​(looking for some serious funding (at least $1 million) -> you’ll
need to turn to venture capital. Venture capitalists (VCs) are more likely to require an in-depth
and airtight business plan, but they can also give you larger amounts of money.

29. Who are the most talented/passionate people in a particular industry? What makes
them successful?
Smart phone: Steven Paul Jobs was the chairman, chief executive officer (CEO), and
co-founder of Apple In. "people with passion can change the world" - holds the secret to
entrepreneurial success. Passion is everything. Following your passion is the secret to
overcoming the setbacks all entrepreneurs face and it builds resistance against the inevitable
naysayers who will question your vision. If you’re not passionate about your ideas, nobody else
will be.
Bill Gates was chief executive officer (CEO) and co-founder of Microsoft. “I benefited from
having a great education — public schools through 6th grade and then a great private School,”
Gates said. He also can predict future, responsible person.

30. How has a particular industry changed in the last 5, 10, 20 years? Where is it headed?
Technology plays a vital role in every field of the whole industry today. It is not an
understatement that technology drives the whole world to a brighter future.
Ex: if we throw the coronavirus back to 20 years ago, it may have destroyed some part of our
earth where there is no advanced technology like the EMCO artificially supporting people’s
breathing. Online applications like Zoom were not there so the shutdown of a city must have
been a whole disruption of the world. Even at that time, medical masks were something very
abnormal. The risk of infection might have been much worse when the information is not
transmitted to the public well and massively.