REPORT ON BUSINESS

ENGLISH 1.4 OF GROUP 4

Topic: How to become a millionaire

The lecture: Trần Trung Dũng, MA

The ID class: 210000000645

16/04/2021
 OUTLINE

I. OVERVIEW OF THE IDEA

II. Presentation

1. Introducing the talk show Orientation Of The Youth

2. Q&A of Millionaire in the information technology segment and a startup-A

person intends to start up the technology business. (Thoa and Thuy Van)

3. Q&A of Millionaire in the food and fast consumption segment and a startup- A
person is running a food business but at a loss.( Thu Trang and Thu Van)

4. Q&A of Millionaire in the information technology segment and a startup at the

information technology area but have difficulty in operating the business.(Thoa
and Huyen)

5. Q&A of Millionaire in the food and fast consumption segment and a startup- A
person are intending to start the FMCG industry-fast moving consumer goods.
( Thu Trang and Yen)

6. Finishing the talk show.

III. ASSESSMENTS OF TEAM WORKING

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 I. INTRODUCTION

Our presentation will be performed like a talk show which the guest (2
millionaires) will talk with the participants (4 startups). The millionaires share
their opinions and answer questions from 4 startups about the information
technology and the food and fast consumption segment.

II. PRESENTATION
1. Introducing the talk show Orientation Of The Youth

Welcome ladies and gentlemen,

I’m To Loan - the host of Orientation Of The Youth talk show. Can you guess
what we are going to discuss today? Well, to find the answer let enjoy a video.

The video you’ve just seen was recorded 5 years ago. Do you wonder how they
became till now?

Do you agree that you can be rich if you take action like them? Hmm, it seems not
sure. As we know, nowadays more and more people want to become a millionaire,
but to find the right way is still difficult for all of them. If you’re not careful and
self-aware you may be fallen into lots of cheating organizations or illegal business,
which cannot help you enrich or even become an empty-handed person. Actually,
mentors, who can give you some advice, orient your path in the career, are
necessary. That is the reason why we invited 2 millionaires to our talk show today.

Welcome Mrs. Thu Trang - the specialist gets many achievements in fast food
consumption.

MC To Loan

Good afternoon, madam. It’s really glad for me to see you - my idol. How do you
feel when joining our talk show today?

Thu Trang

I’m really excited about the genetic atmosphere here. I know all of you guys are
ambitious to run your own business successfully by yourselves.

MC To Loan

Wow, nice. So what do you think about the video that we have referred to at the
beginning of this show?

Thu Trang

Of course, it is justified to dare to declare and assert the goal you pursue and no
one has the right to stop. But it would be meaningless if just words without action.
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 After all, I think everyone should act decisively and step by step to conquer the
dream of getting rich instead of dreaming like that.

MC To Loan

And the rest guest, who is not less successful than Mrs. Trang, is Mrs. Thoa - the
specialist in information technology industry.

Good afternoon, the professional. It’s my great honor when having a chance to
meet you - the ideal woman. So do you want to say something to greet audiences
here?

Mrs. Thoa

I feel that I am so lucky to be a guest of the program. It is honor for me to be here

to share my opinions and take advice for new startup in the information
technology area!

MC To Loan

Yeah, and what’s your opinion about the video that we’ve shown at the beginning
of this show?

Mrs. Thoa

I can’t agree with Mrs Trang more. If I were them, I would pursue my dream till I
was successful instead of yelling like them. Unless they can reach their targets,
they may lose their reputation by themself or even no one will believe in them.

MC To Loan

Thank you for your advice. Through specialists’ advice, we should remember that
you cannot get any targets if you just claim without taking action. Now I think
everyone can’t have been waiting anymore to ask you the way to solve their
problems.

So let’s come to the first question from the audience. Let's raise your hand to give
us your questions. Oh, I see an audience far away. You, please!

2. Q&A of Millionaire in the information technology segment and a startup-A

person intends to start up the technology business. (Thoa and Thuy Van)

Millionaire 1: A millionaire in the information technology segment.

Startup 1: A person intends to start up the technology business.

Thuy Van:

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 - Good afternoon MC To Loan, Mrs Thoa, Mrs Trang and everyone here. Nice to
meet you. I'm Thuy Van. I have graduated for 1 year and currently I intend to start
my business in technology field. This is the first time I have set up business so I
have a lot of queries. That is the reason I attended the conversation today. I hope I
can listen experience and get some advice from Mrs Thoa.

MC To Loan:

- It’s our pleasure! Can you show us your business plans?

Thuy Van:

- I plan to set up a company providing technology equipment such as laptop,

smartphone and smartwatch. Probably you also know that it needs a large amount
of capital to produce these products. The components and machines to
manufacture are extremely expensive and there are those I have to import from
abroad. However, currently, the amount of capital I have can only meet about 80%
of the need. I have carried out capital calls but investors are still quite hesitant to
invest in a new project. So, could you suggest me the ways to raise it?

MC To Loan

Well, it absolutely relates to Mrs. Thoa’s field, so Mrs. Thoa please give her some
advice.

Mrs. Thoa:

The fact that investors are hesitant to invest in a new project. It is not too difficult
to understand because they need to ensure their money being always profitable
from the startups . To raise investment money, you should have a plan which you
execute upon with timelines, milestones and tasks assigned to team members. This
increases the change of closing your capital raise successfully.

MC To Loan

Thank you Mrs. Thoa.

Thuy Van, Are you satisfied with that answer from the professional? Do you
wonder anything?

Thuy Van:

Yeah, I have one more question. Would you mind clearing up for me?

Mrs Thoa:

Not at all!

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Thuy Van:

The technology field requires workforce with high professional abilities. But
normally, they want to work in big companies to have many opportunities to
develop themselves. Therefore, to hire them, I will need to pay a high salary.
Whereas, the thing every businesses concern about most is profits. So, how can I
employ high quality workforce without suffering from reducing the profits?

Mrs Thoa:

Hmm, It’s impossible! If you want to have the high quality workforce, you need to
pay them high salary to keep them working for you. With low salary, they are
going to leave your company to apply for a new position in new company. With
high salary, they will try their best to complete the works you give. And you want
to ensure the company’s profit, you have to control and satisfy your employees, it
means that you know and understand the things that your employees do and find
out their potential to take advantage of the potential for your company, and
satisfying it means that you should look after environment to find out what the
employees need and try to meet the need. From that, they will ensure the profit
even make more profit for your company.

Thuy Van:

I got it! Thank you very much for sharing today.

MC To Loan

So through the conservation between Mrs Thoa and the start up, I think not only
the startup but also people who intend to start up should pour their heart to run the
business firmly in the first period instead of focusing on their profit.

Yeah so move on another one? You - the girl is wearing glasses, please.

3. Q&A of Millionaire in the food and fast consumption segment and a

startup- A person is running a food business but at a loss. (Thu Trang and
Thu Van)

Millionaire 2: A millionaire in the food and fast consumption segment.

Startup 3: A person is running a food business but at a loss.

Thu Van:

Hello MC To Loan, Mrs. Trang and Mrs. Thoa and all the audience here. My
name is Nguyen Thu Van. Currently, I am a director of Thai Hoa Food Limited
Company. I started a business together with my friends 6 months ago, so this
company was founded in my hometown, Hai Phong. We had a clear direction to
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 do business with clean food. I know that this is not only a reputable issue, but it
also directly affects the health of consumers. We built glass buildings that grow
the eco-plant food, employed about 300 people to take care of them. These plants
are grown in a non-polluting environment, strictly comply with the regulations of
the agencies on growing conditions and spraying procedures.

MC To Loan

This problem seems to be likely to be solved by Mrs. Trang - the director of Asia
Food and Consumption Joint Stock Company.

Thu Trang:

Yeah, thank you. I think your clean food walk-through is also very good. So, what
are your target customers?

Thu Van:

The varieties that we imported are all tropical fruits and vegetables. Our target
customer is high income Vietnamese customers because our food source has very
good quality. However, the reality is far from imagined, our food is unmarketable
because being too expensive.

Thu Trang:

In the fact, to provide a source of clean, high-quality food, the cost must be huge.
Therefore, the product cost will also be high. Most Vietnamese people now have
average income, so the number of customers is not large, you should expand your
business to international markets, so the profit of the business will also increase.

Thu Van:

Moreover, during transport, the poor preservation leads to food spoilage. In

addition, having difficulties in managing goods, our company suffered heavy
losses, even the amount collected was not enough to cover the cost of equipment
and machinery. Mrs. Trang, my biggest dream is to become a millionaire like you.
You are a great motivator for me to enter the business path. Would you give me
advice? How to preserve food? How to manage goods well?

Thu Trang:

Wow, thank you. Of course, starting a new business will face many difficulties,
possibly leading to losses, but it takes time for everything, right? You need
perseverance and ceaseless effort, to keep your enthusiasm and determination as
now, I believe your business will thrive. As far as preservation matters, you should
preserve your food by methods such as freezing. This is one of the most popular
methods available today to preserve most foods while remaining fresh, not spoiled
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 for days. One of the safe methods is vacuuming. It also helps fresh foods like
vegetables to be preserved, but is more short-term than the freezing method.

Thu Van:

I am very happy for your sharing today. Thanks for giving me so much advice.

Thu Trang:

And most importantly, to become a millionaire in the food industry, you need high
determination, clearly defined goals, long-term strategies for the business, fully
equipped with knowledge of the field this area.

MC To Loan

I see that Mrs. Trang completely devote herself to give the audience many helpful
solutions. It’s so brilliant.

Thu Trang

Uh hah, It’s pleasure of mine, I should do that.

MC To Loan

The time is running. We’ve left just 2 chances for audience here. Who’s next?

4. Q&A of Millionaire in the information technology segment and a startup

at the information technology area but have difficulty in operating the
business.(Thoa and Huyen)

Startup 2: Another start up at the information technology area but have difficulty in
operating the business.

Huyen:

Hi, everyone. My name is Huyen. I have recently decided to run the phone
business. However, I have to face with many difficulties as well as challenges that
I haven’t still find out suitable solutions in order to run my company better and
make more profits. Could you give me some advice for these problems?

MC To Loan

Well, as a successful millionaire in smartphone business along with her valuable

experiences in this field, Mrs Thoa will be the best person to help you.

Mrs Thoa:

Ok, I am willing to give you some advice. So could you tell me more specifically
about the challenges you are facing to?

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Huyen:

The problem I have to face is finding and keeping the right talent employees.

Mrs Thoa:

Oh, yeah. Don’t worry about it. It is major challenge in any smartphone
businesses. The leading causes of unfilled vacancies in businesses today are skills
gaps and the increasing competition globally for those with highly sought after
skills-sets and experiences.

Huyen:

I can see it. Most businesses face intense competition to identify and engage the
right talent. That means a lot of companies are vying for the same candidates.
According to the best of your knowledge, what do we need to do to attract them?

Mrs Thoa:

Invest in a structured and well planned Multi Channel approach to market which
will include building your Employer Brand. Doing so will give your company
massive advantages when it comes to attract candidates. To do this successfully
ensure that you’re utilizing all the tools available to you in order to broaden your
talent pool, including social media.

Huyen:

That sounds great. Once I’ve hired the perfect candidate, how do I keep them?
Especially in today’s fast-paced market, what can we do to foster loyalty among
new hires?

Mrs Thoa:

The early stages of your employee’s careers are the most critical. Develop
effective on boarding programs to acclimate new hires to the company culture.
Employ existing talent to mentor and train individuals that show potential. Finally,
make the benefits of working for your business employee-friendly.

Huyen:

It means that I should care more about my employees, facilitate their growth as
well as create a comfortable atmosphere in the workplace. In addition we need to
boost their performance and retention rate by sponsoring additional employee
education, right?

Mrs Thoa:

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 Surely, by providing employee incentive programs, you will attract more talent
employees that play an important part in your business. They are the key that
decide to your success or failure.

Huyen:

I couldn’t agree with you more. It is really good advice for me. Thank you for
taking the time. You’ve been very helpful.

MC To Loan

After talking to Mrs Thoa, I believe that Huyen, you will actually define some
right ways to solve your problem, won’t you?

And now it’s the last chance for only lucky person. Who wants to catch it? Ah, I
see a girl over there.

5. Q&A of Millionaire in the food and fast consumption segment and a

startup- A person are intending to start the FMCG industry-fast moving
consumer goods.( Thu Trang and Yen)

Startup 4: A person are intending to start the FMCG industry-fast moving consumer
goods.

Yen:

Hello MC To Loan and all of the guests here today. 

My friends and I are planning a start-up in the FMCG industry. We want to start a
company called Landy. The company has 4 main shareholders, each of us
contributes $50000 for capital. The first items we have set up in business as instant
noodles, soap, fast food, ... so our target customers are low-income ones. When we
successfully capital turnover, we will expand our business to add other items and
sell them on the online website.

Trang:

 Why do you choose FMCG products?

Yen: 

We chose the FMCG industry because we saw its potential. Firstly, society
develops fast, people have to work for a living and the demand for using FMCG
products is increasing. Secondly, these products are essential for busy people who
have low and medium-living standards because the prices are not high, suitable for
large numbers of workers and students.

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 Mrs. Trang, I know you are a well-known person in the FMCG business, can you
give me some experience to become more successful?

Trang:

I think you should target all kinds of people. Because those are practical everyday
items, anyone needs to use them. Moreover, FMCG products such as shampoo,
fish source, and MSG have to be affordable enough to suit everyone.

Yen: 

Yes, I got it. Now, I understand why you are a successful person. I admire so
much. Because my company has a small capital so the initial operation can be
difficult. We will use 60% of capital to buy products, 10% to hire the remaining
workers to use the premises and settle costs incurred. I think it is the most sensible
way for us. How do you think about that?

Trang:

I think your direction is also reasonable.

Of course, a business cannot be without difficulties. Previously, I also had many

problems such as hiring labor, improper distribution of products, causing the
product to be damaged a lot when reaching consumers. Then, as you can see, I
delivered through various intermediaries such as retail stores, and used methods
such as refrigeration or vacuum extraction to extend product shelf life.

Yen: 

Thank you for letting me know a great of useful information and high-quality
knowledge about the FMCG industry. I will remember and use it effectively. This
is a very dedicated project of us, we have spent a year brainstorming and
researching about it. I hope ‘our brainchild’ will have a chance to be fulfilled.

6. The end of the talk show.

MC To Loan

Wow, there are the amount of useful information we can get from this exchange.
After all, the startup should orient their goals clearly and pursue till catching them.
You should widen your limitation, take action and you will get the result. Though
your failure, you can still get the experience to stand up. If you success, it’s great
and deserved with your efforts.We hope that everyone can get useful lessons for
yourselves from this talk show today. Thank you for your appearance again,
professional! We are looking forward to having a chance to cooperate to you once
more time. It’s time for us to say goodbye. Thank you for joining with us.

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 ASSESSMENTS OF TEAM WORKING

(Bảng đánh giá quá trình làm việc nhóm)

Điểm trên
STT Thành viên Nhận xét thang điểm
A,B,C
- Tổng hợp ý tưởng

- Chủ động giao nhiệm vụ công

Nguyễn Thị Tố Loan
1. bằng, trách nhiệm A
(leader)
- Hoàn thành tốt các công việc phụ
trách
- Hoàn thành nhiệm vụ được giao
2. Phùng Thị Thùy Vân B
đúng hạn
- Tích cực đóng góp ý tưởng
3. Nguyễn Thị Thu Trang - Có tinh thần chủ động hợp tác A
nhóm tốt
- Hoàn thành nhiệm vụ được giao
4. Phạm Thị Thương Huyền B
đúng hạn
- Chủ động, tích cực trong hoạt
động nhóm
5. Nguyễn Thị Thoa - Hoàn thành tốt nhiệm vụ làm nội A
dung cá nhân được giao và tổng
hợp Word
- Chủ động nhận nhiệm vụ, trao đổi
công việc, xây dựng bài nhóm
6. Nguyễn Thu Vân A
- Hoàn thành tốt nhiệm vụ lên nội
dung cá nhân và làm powerpoint
- Hoàn thành công việc được giao
7. Tô Thị Yến B
đúng hạn

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