- Social interaction + Develop relationship through workshops, training programs,

projects, ...
-> Have more network + experience in different fields + social skills
-> More opportunities for promotion
 Definition of social interaction: A social interaction or social relation is the
way people talk and act with each other. It may include interactions in a
team, family or bureaucracy. It includes any relationship between two or
more individuals. It is a source of socialization and it characterizes all types
of social relationships.
 Working as employees in the company is create more social interaction than
being a start-up because
When working for an established company generally, there will be a team,
organised social events and be part of a community, which for many people
is a huge bonus about going into work. Working within a team and bouncing
ideas off like-minded people can give the young a great feeling of job
satisfaction, which they may not have when running a business. To be
specific, companies frequently provide many opportunities for employees
such as holding annual ceremonies to recognize employees for their hard
work, hosting employee appreciation days once a month or taking
departments out for a nice lunch after achieving a company goal, creating
office trivia, book clubs, sports team, or escape rooms.

- get along well with people in the same field of work, as they share a
lot of things in common, including everyday experiences.
- get along well with the advantage is that you will learn a lot not only
in terms of performing your job but also in the ways of the trade from
these people in the workplace with people in the same field of work,
as they share a lot of things in common, including everyday
experiences.
- As you climb the corporate ladder, you will get to grow your
professional network and build connections that you can benefit from
in the long run. Besides serving as an excellent platform for
networking, your workplace can allow you to practice your social,
communication, and people skills.
 The importance of social connection

- Healthier life. Employees with strong social connections are generally

healthier. According to Mayo Clinic, “Adults with strong social
 support have a reduced risk of many significant health problems,
including depression, high blood pressure and an unhealthy body mass
index (BMI).” It is also noted that research found that older adults
with a rich social life and quality relationships are likely to live a
longer life than those with fewer social connections.
- Happiness. Relationships are crucial to happiness. Quality
relationships provide support and help build self-worth – which both
lead to feelings of happiness. The Harvard Study of Adult
Development tracked the lives of 724 men for 79 years. Researchers
hoped to discover the secret to success, happiness and a good life. The
study found that relationships tremendously impact our health,
happiness and quality of life. It was also found that the quality of
relationships mattered more than quantity.

Disadvantage of working on your own

Being self-employed is a very lonely way of working, and you may not see people
from one day to the next. You won't have colleagues to socialise and chat with.
The bigger the firm, the more contact you have with others.

Disadvantage of being start-up in view of macro environment

Being start-up can waste a lot of time and it is difficult to achieve it for many
reasons
 Firstly, they have to deal with Construction Permits
-   It takes 110 days and 11 procedures to get permits for construction in Vietnam,
requiring interaction with several official departments. Inspections
must be carried out by the Department of Construction and the municipality, and
certificates should be obtained from the Firefighters Prevention Department, the
Department of Construction and the Department of Natural Resources and
Environment.
 Such of these procedures may not strengthen the business growth 
 They also need to register Property
-   Registering property takes 57 days to complete, which is far higher than the
OECD norm but around average for East Asia and the Pacific. Contracts between
the transferor and the transferee are signed before taxation is paid and registration
for the right to use land is complete.
  Furthermore, Paying taxes
-   There are a massive 32 corporate tax payments to be made each year which takes
872 company hours to complete. Compared to the OECD norm of 176 and the
East Asia and Pacific 209, taxation is one of the most burdensome processes of
doing business in Vietnam.
 About Culture
-   The Vietnamese believe in the teachings of the early Chinese philosopher
Confucius which emphasise the importance of relationships, responsibility and
obligation. Vietnam is also a collectivist country and community concerns will
always come before business or individual needs.
-> Hard to conduct market research and specify the target customer, which may make
the business take worse consequences
-> Therefore, this creates huge burdens for the CEOs to overcome any external
forces in the macro-environment.

The second disadvantage is competitive Sector

  In 2020, Vietnam had more than 1,500 startups operating in different fields. In
terms of the density of startups per capita, the rate in Vietnam is even higher
than in many other countries such as China, India, or Indonesia. According to
statistics of the Financial Journal under the Ministry of Finance, there are
currently about 2,100 startups in Indonesia, 2,300 in China and 7,500 in India.
However, recent statistics all reflect a rather sad reality with the development
situation of Vietnamese startups. Specifically, among newly born startups, only
3% are actually successful , satisfying one of the following criteria: Valued at
10 million USD or more, revenue from 2 million USD, having 100 employees,
have raised capital for the second round or sold the company at a good price.
 The administrative barrier for foreign investors.

Issues such as administrative procedures, business conditions, sub-licenses,

difficulty in divestment after a period of investment in Vietnam always make
foreign investors hesitate. Hence, the number of domestic start-up projects
receiving foreign investment stopped at a low level.

In 2016, the total value of the investment in startups in Southeast Asia reached
about 1.5 billion USD. In Vietnam, this number is just under 100 million USD,
80% of the remaining money goes to Indonesia and Singapore because their
startup and capital support policy is much better than Vietnam.
 Question 4: You said that companies create social connection so can you
tell me some benefits of social connection?

 Employees with strong social connections are healthier. According to some

research, “Adults with strong social support have a reduced risk of many
significant health problems, including depression, high blood pressure and
an unhealthy body mass index (BMI).” It is also noted that research found
that older adults with a rich social life and quality relationships are likely to
live a longer life than those with fewer social connections.
 Relationships are crucial to happiness which can translate into work
performance. Quality relationships provide support and help build self-worth
– which both lead to feelings of happiness. It promotes a sense of safety,
belonging and security. Allows employees to tell their thoughts to others.