ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 11: Research Project

Submission date 27/6/2023 Date Received 1st submission 27/6/2023

Re-submission Date Date Received 2nd submission

Student Name Hoang Ngoc Nam Student ID BH00232

Class MA0501(5060) Assessor name

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Analyze business recovery roadmap to rebuild opportunity after the Covid-19 of Saigon
Tourist
Contents
I. Introduction.......................................................................................................................................5
II. Theoritical frameworks....................................................................................................................5
2.1. The difinition of business recovery...........................................................................................5
2.2.The importance of business recovery........................................................................................5
2.3. The indicators of business recovery..........................................................................................6
2.4. Covid-19 and its impact on tourism industry............................................................................8
III. Literature reviews...........................................................................................................................8
IV. Methodology.................................................................................................................................11
4.1. Data collection method...........................................................................................................11
4.2. Data analysis method..............................................................................................................12
4.3. Interview questions and questionaires...................................................................................14
V. Activities and time scale................................................................................................................16
Reference............................................................................................................................................17
I. Introduction
Reason for choosing topic, Objectives, Structure of rp

II. Theoritical frameworks

2.1. The difinition of business recovery
The Queensland Government in Australia defines business recovery as the return to
normal operations following an incident, crisis, disaster, or significant event. A business
recovery plan is a pre-designed plan that includes timelines for restoring critical functions
and strategies for resuming business as close to pre-incident levels as possible.

However, The European Union Agency for Cybersecurity (ENISA) states that business
recovery plans are used by operational teams, also known as bronze teams, to recover their
processes after an incident that has affected their ability to operate normally. This
information is then used by information and communications technology (ICT) or
information systems (IS) teams to restore their processes and activate the IT service
continuity plan. If necessary, critical business units that have been affected by the incident
and have lost critical technology or information will also activate their business recovery
plans.

In this study, (nêu quan điểm cá nhân về định nghĩa business recovery)
2.2.The importance of business recovery
In addition to the economic benefits of business recovery after COVID-19, there are also
social and psychological benefits. Businesses can help to restore employment opportunities,
revitalize local economies, and provide a sense of hope and optimism. They can also serve
as platforms for community engagement and support for individuals' well-being.

The restoration of employment opportunities is a significant social benefit of business

recovery. By rehiring workers or creating new jobs, businesses can help to reduce
unemployment rates and provide individuals with a renewed sense of purpose and stability.
This is especially important considering the significant job losses and financial hardships
experienced during the pandemic. The availability of employment opportunities can help to
alleviate the stress and anxiety associated with job insecurity, empowering individuals to
regain control over their lives and improve their overall quality of life.
 The recovery of businesses also contributes to the revitalization of local economies.
When businesses resume their operations, it stimulates economic activity and encourages
spending within the community. This, in turn, supports other local businesses, suppliers,
and service providers, fostering a ripple effect of economic growth. The revitalization of
local economies not only boosts financial stability but also enhances the overall social fabric
of a community. It creates a vibrant environment with diverse offerings, attracting residents
and visitors alike, and fostering a sense of pride and belonging.

The psychological impact of business recovery should not be underestimated. For

individuals who have been profoundly affected by the pandemic, witnessing the revival of
businesses can instill a much-needed sense of hope and optimism. Businesses represent
resilience and the ability to overcome adversity, offering a ray of light amidst the darkness.
The reopening of beloved local establishments or the launch of new ventures can evoke
feelings of joy and excitement, acting as a beacon of progress and a reminder of the
community's resilience.

Furthermore, businesses have the potential to become sources of support and

assistance for individuals' overall well-being. They can serve as platforms for community
engagement, providing spaces for social interaction and collaboration. For example,
restaurants can serve as gathering places for friends and families to reconnect, fostering a
sense of belonging and social cohesion. Additionally, businesses can prioritize the mental
health and well-being of their employees and customers by implementing supportive
policies, offering resources, or collaborating with mental health organizations. Such efforts
not only contribute to the recovery of individuals but also create a culture of care and
compassion within the community.

2.3. The indicators of business recovery

There are some financial indicators that show how a business on its recovery by numbers
such as ROA, ROE and Cash flow from operation (CFO).

Return on assets (ROA) is a measure of how well a company is using its assets to
generate profits. It is calculated by dividing a company's net income by its total assets. A
high ROA indicates that a company is using its assets efficiently and generating a lot of profit
and if ROA at low, it indicates that a company is not using its assets efficiently or that it is
not generating much profit. ROA can be used to track a company's financial performance
over time and to compare the performance of different companies. A company with a
higher ROA than its competitors is likely to be more profitable. In terms of business
recovery, a rising ROA can be an indicator that a company is recovering from a financial
crisis.

Return on equity (ROE) is a measure of a company's profitability that shows how much
profit a company generates with the money that shareholders have invested. ROE is
calculated as: ROE = Net income / Shareholders' equity. Like ROA, if ROE is high, indicates
that a company is using its shareholders' equity efficiently to generate profits. This can be a
sign of a healthy and growing business. A company's ROE can also be used to track its
business recovery. If a company's ROE is increasing, it is a sign that the company is
becoming more profitable and that its business is recovering. On the other hand, if a
company's ROE is decreasing, it is a sign that the company is becoming less profitable and
that its business may be struggling.

Cash flow from operations (CFO) is the amount of cash a company generates from its
core business activities. It is one of the three major components of a company's cash flow
statement, along with cash flow from investing activities and cash flow from financing
activities. CFO is a good indicator of a company's financial health, as it shows how much
cash the company is generating from its operations. A healthy company will have a positive
CFO, which means that it is generating more cash than it is spending. This provides the
company with a buffer to weather unexpected expenses or invest in growth opportunities.
A negative CFO can be a sign of financial trouble, as it means that the company is spending
more cash than it is generating. This can lead to liquidity problems, as the company may not
have enough cash to meet its financial obligations. In terms of business recovery, a positive
CFO is a good sign that the company is on the road to recovery. This is because it shows that
the company is generating enough cash to cover its expenses and invest in growth.
However, it is important to note that CFO is just one measure of financial health, and it
should be considered alongside other factors, such as profitability and debt levels.

2.4. Covid-19 and its impact on tourism industry

The research Impact of the Covid-19 Pandemic to the Tourism Industry: Evidence from
Vietnam by Nguyen Bang Nong and Van Hoang Thi Ha shows that the COVID-19 pandemic
has a negative impact on the tourism industry in Vietnam. In 2020, the number of
international tourist arrivals fell by 80%, and the total revenue from tourism decreased by
59%. Domestic tourism also declined by 34%. In 2021, the number of international tourist
arrivals remained low at 1.6 million, compared to 18 million in 2019. The total revenue from
tourism was estimated to be 200 trillion VND in 2021, down from 800 trillion VND in 2019.
The number of jobs in the tourism industry also decreased by 20% in 2020.

The pandemic posed many challenges for the tourism industry in Vietnam, including
travel restrictions, border closures, the cancellation of events, and the fear of contracting
COVID-19. These challenges led to job losses and business closures in the tourism industry.
In 2020, it is estimated that over 1 million people employed in the tourism industry lost
their jobs due to the pandemic.

Lấy thêm thông tin từ báo chí chỉ ra các con số ảnh hưởng

III. Literature reviews

In their 2022 research, "Business recovery from disasters: Lessons from natural
hazards and the Covid-19 pandemic" S.E. Chang, C. Brown, J. Handmer, J. Helgeson, Y.
Kajitani, A. Keating, I. Noy, M. Watson, S. Derakhshan, J. Kim, and A. Roa-Henriquez confirm
that many businesses around the world have suffered heavy losses from Covid-19 and
natural hazards. The study discusses the challenges that businesses face after suffering from
the Covid-19 pandemic, but it does not provide clear research methods or data, nor does it
offer specific policy solutions. The authors note that it is difficult to come up with a single
solution that would work for all businesses, as each country has different policies, laws, and
environments. Therefore, the study concludes that the best way to support business
recovery is to provide flexible and tailored assistance that is responsive to the specific needs
of each business and country.
 In their 2020 study, "Small Business Recovery after Covid-19" Patrick A. McLaughlin and
Tyler Richards proposed solutions for small businesses that have been affected by the
pandemic. The study used secondary data collection methods to analyze how corporate
sales have been affected in the United States and how many companies have gone
bankrupt. The study also proposed that the government create exemption policies for
companies that have suffered damage, such as tax breaks and financial support. However,
the study did not consider enough studies and data, so the solutions are still limited.

The research project “Business Recovery Strategy in Post-Covid 19 Economic

Turbulence” by Jon Kenedi, Syamsul Amar, Rosyeni Rasyid, and Helmi Ali (2023) examined
the strategies that companies can use to recover from the economic turbulence caused by
Covid-19. The researchers found that four key strategies are essential for business recovery:
encouraging entrepreneurship, supporting revolving capital, exempting, or reducing taxes
for businesses, and building a competitive business environment. The research method
used in this study was a literature review and data collection from the researchers' own
research and experience.

Research topic "International Tourism and Covid 19: Recovery Strategies for Tourism
Organizations" by Wadim Strielkowski (2020) has not yet analyzed in-depth data such as
how Covid-19 affects tourism businesses or found solutions. The data of this study mainly
describes the Covid-19 situation on the tourism industry, and the solution is inspired by
Hong Kong, which is an application to track people with Covid-19 and isolate them. In
general, this research paper is sketchy and lacks depth of data, solutions, and research.

The research "Impacts of Covid-19 pandemic on tourism industry in Vietnam and initial
response solutions" by Pham Truong Hoang, Tran Huy Duc, and Ngo Duc Anh (2020)
provides evidence and statistics on the impact of Covid-19 on the tourism industry in
Vietnam. The study, which is based on secondary data, makes recommendations to support
tourism businesses, including promoting domestic tourism, reducing corporate income tax,
helping businesses find customers, and restructuring businesses.
 The research topic “Supporting businesses recovery after Covid-19 through social
insurance exemption and reduction mechanisms: Legal barriers need to be removed”
(2022) by Ngoc Thi Yen Le uses secondary data to demonstrate the factors affecting the
development of businesses by Covid-19. The data collected by this author are official,
reliable, and true to the epidemic situation in Vietnam. However, the author does not use
specific research methods, but only relies on secondary data to find a solution. Therefore,
the author's solutions only discuss the state coming up with policies to help businesses limit
paying workers' insurance, bumilt this is not a completely optimal solution.

The research study by Ha Van Su and Ta Viet Anh, titled "The Impacts of Covid-19
and Recovery Solutions for Small and Medium-Sized Enterprises in Vietnam" examined
how the Covid-19 pandemic has affected businesses of all sizes in Vietnam. The study found
that 36.4% of small businesses and 37.7% of medium enterprises have been affected by the
pandemic. These numbers demonstrate the significant impact that the pandemic has had
on businesses in Vietnam. The study also offered two sets of solutions to help businesses
recover from the pandemic. On the business side, businesses should adopt automation
methods, implement flexible epidemic prevention measures, and provide epidemic
prevention equipment for employees. On the government side, the government should
vaccinate the entire population, establish a support fund for small and medium-sized
enterprises, and implement a digital transformation policy.

Nguyen Thi Minh Huong's (2020) research, "Effects of Covid-19 pandemic on tourism
and policy implication for Vietnam" shows that the number of Vietnamese tourists
decreased by 1% in early 2020, but by the end of the year, the number had decreased by
85%. The paper uses secondary data to propose five policies that the government can
implement to help the tourism industry recover: making tourists feel safe, understanding
the potential of tourism, reducing tourism costs, diversifying tourism culture, and
restructuring the market.
IV. Methodology
I will use a mixed-methods approach to my research, which means that I will use both
quantitative and qualitative methods. By combining these two approaches, I will be able to
gain a more comprehensive understanding of the impact of the pandemic on the tourism
industry. This will help me to propose more effective strategies for recovering Saigon
Tourist after the pandemic.

4.1. Data collection method

The COVID-19 pandemic has had a profound impact on society and the environment,
but the full extent of its impact is still not fully understood. This study will use semi-
structured interviews with tourism industry professionals to gain a better understanding of
the pandemic's impact on the industry. The interviews will be conducted online or in
person, depending on the individual's preference.

The researcher chose the semi-structured interview method because it is a flexible and
in-depth way to explore complex and nuanced topics. This method allows the researcher to
ask open-ended questions and to follow up on the interviewee's responses, which can help
to identify the root of the problem and to gain a deeper understanding of the interviewee's
perspective. Additionally, interviews can be helpful for uncovering subjective experiences,
emotions, and personal stories that cannot be captured by numbers. Finally, the interview
process can help to build trust and rapport between the interviewer and interviewee.

The interview method is a popular data collection method because it can provide rich
and detailed data. The interviewer can ask open-ended and follow-up questions to dig
deeper into the responses and uncover nuances and complexities. This method is also
flexible, meaning that questions can be adapted to lead to a more comprehensive
understanding of the research topic. Additionally, interviews can be useful in gaining trust
and cooperation, which can lead to more honest and open responses. However, there are
some drawbacks to using the interview method. One potential limitation is that
interviewees may give biased opinions if the interviewer is not careful in avoiding leading
questions and dominant opinions. This may affect the accuracy of the data collected.
Interviews are also time-consuming, as they require considerable planning and can be time-
consuming to analyze. Additionally, the interview data can be difficult to analyze because it
is qualitative and subjective, which makes it very difficult to compare the data.

Quantitative research will also be used in this study and conducted at Saigon Tourist
Company to assess the impact of the COVID-19 pandemic on the company. It will also
gather feedback on restoration proposals and evaluate the effectiveness of several recovery
plans. The survey will be coordinated with the CEO of Saigon Tourist to ensure that all
employees complete it.

Contrary to the interview collection method, the survey method can be more
generalizable and collect data from many people. This method also saves cost and time
because it allows implementation online or through digital platforms, reducing the need for
manual data entry. Furthermore, the survey allows flexibility in collecting data from simple
demographic data to more complex attitudinal data. Although this method has significant
strengths, there are also drawbacks to this method. Like interview method, the responses
can become biased and more difficult to overcome than the interview because it is not
possible to observe the behavior and responses of survey participants. Additionally, this
method is limited to exploring in-depth of complex phenomena, as surveys typically involve
closed-ended questions with limited response options.

Since each method has strengths and weaknesses, researcher has combined the two
methods to compensate for the weaknesses of each. This gives researcher a reason to
choose one more method, the survey, because it saves cost and time, and allows researcher
to collect a large number of participants.

In summary, this study uses a variety of flexible data collection methods to optimize the
strengths and minimize the weaknesses of each method.

4.2. Data analysis method

The interview will be analyzed using thematic analysis, which is a method of identifying
patterns and themes in qualitative data. This method will help to optimize the results of the
interview by providing a clear and concise understanding of the main themes that emerged
from the data.
 Thematic analysis is a convenient method for analyzing data because it does not require
training and can be used to extract meaning from raw data. It can also be used to process
large amounts of data efficiently. However, there are some limitations to thematic analysis
such as it can be difficult to capture the true meaning of complex narratives using this
method. Additionally, the results of thematic analysis can be subjective and may not always
match reality.

Thematic analysis is a method of data analysis that can be used to identify patterns and
themes in text data. It is a convenient method because it does not require any prior
training, so it can be used by researchers with varying levels of experience. Using this
method can analyze large amounts of data efficiently, which can be a valuable asset for
researchers who are working with large datasets. Thematic analysis can be used to draw
important information from raw data that has been collected previously and it can also help
to save time and resources. However, thematic analysis also has some disadvantages such
as it can be difficult to capture the true meaning of complex narratives using thematic
analysis, and the results of thematic analysis can be subjective and may not always reflect
reality.

Descriptive analysis will be used to analyze the surveys. This method will yield
meaningful numerical figures that can be used to measure the effectiveness of recovery
plans and the impact of COVID-19 at a high level.

Descriptive analysis is a simple and effective way to understand the characteristics and
patterns of a dataset. It uses statistical measures and graphical representations to
summarize and visualize data, which allows researchers to quickly understand the central
tendencies and distribution of the data. Descriptive analysis can also help to identify outliers
and inconsistency, which can be crucial for detecting errors or discovering valuable insights.
However, it has some limitations. It cannot establish causal relationships between variables,
nor can it predict future trends. Additionally, descriptive analysis may overlook complex
relationships between variables and fail to capture the dynamic nature of data over time.
4.3. Interview questions and questionaires
4.3.1. Interview questions(and follow-up questions)
a) How has Covid-19 impacted your business?
 What were your sales like before and after the pandemic?
 How many employees have you had to lay off?
 What are the biggest challenges you are facing right now?
b) What are the specific ways in which Covid-19 has damaged your business?
 Have there been any changes in government regulations that have made it more
difficult to operate your business?
 Have there been any changes in consumer behavior that have led to a decrease
in demand for your products or services?
 Have your company made any changes to comply with COVID-19 safety
protocols?
c) Does your company have any action to recover from the damage caused by Covid-
19?
 What new marketing strategies is your company implementing?
 Will your company expand to the new market?
d) What are the biggest challenges that Saigon Tourist is facing in business recover
efforts?
 Are you having trouble getting funding?
 Are you having trouble maintaing contracts?
e) What advice would you give to the business recovery?
 What resources have been helpful to you?
 What are the best practices that you've learned?
 What organizations have been providing support?
1.1.1. Questionaire survey
a) How has the COVID-19 pandemic impacted your tourism company? Please select all
that apply:
 Significant decrease in revenue
  Closure of business operations
 Layoffs or reduced workforce
 Decreased customer demand
 Other (please specify)
b) What specific challenges has your tourism company faced as a result of the COVID-
19 pandemic?
c) Have you implemented any business recovery recommendations or strategies to
mitigate the effects of COVID-19? Please select all that apply:
 Developing new products/services
 Enhancing health and safety protocols
 Utilizing digital marketing and online platforms
 Collaborating with local government and tourism bodies
 Other (please specify)
d) On a scale of 1 to 5, how effective have the business recovery recommendations or
strategies been in helping your tourism company recover from the impact of COVID-
19? (1 = Not effective at all, 5 = Very effective)
e) What specific recovery recommendations or strategies have been the most effective
for your tourism company? Please describe briefly.
f) What recovery recommendations or strategies have not been effective for your
tourism company? Please describe briefly.
g) In your opinion, what are the main reasons why tourism companies have been
damaged by COVID-19? Please select all that apply:
 Travel restrictions and border closures
 Fear and hesitancy among travelers
 Reduction in disposable income for potential tourists
 Lack of government support or assistance
 Other (please specify)
V. Activities and time scale
Task Schedule

1 Identify the research topic 2/6/2023-7/6/2023

2 Create the project and cruit 8/6/2023-19/6/2023

members

3 Build research plan 20/6/2023-19/7/2023

4 Decide and assign research 20/7/2023-27/2023

tasks

5 Propose interview and 28/7/2023-4/8/2023

survey forms

6 Start interview and surveys 5/8/2023-11/8/2023

and collect data

7 Analyze data 14/8/2023-28/8/2023

8 Conclude the results and 29/8/2023-4/9/2023

data

9 Propose recommendations, 5/9/2023-6/10/2023

solutions

10 Create report 7/10/2023-29/10/2023

11 Close the project 30/10/2023

Reference
Chang, S.E., Brown, C., Handmer, J., Helgeson, J., Kajitani, Y., Keating, A., Noy, I., Watson,
M., Derakhshan, S., Kim, J. and Roa-Henriquez, A. (2022). Business recovery from disasters:
Lessons from natural hazards and the COVID-19 pandemic. International Journal of Disaster
Risk Reduction, [online] 80, p.103191. doi:https://doi.org/10.1016/j.ijdrr.2022.103191.

Strielkowski, W. (2020). International Tourism and COVID-19: Recovery Strategies for

Tourism Organisations. doi:https://doi.org/10.20944/preprints202003.0445.v1.

McLaughlin, Patrick & Richards, Tyler. (2020). Small Business Recovery after Covid-19. SSRN

Electronic Journal. 10.2139/ssrn.3595311.

Kenedi, J., Amar, S., Rasyid, R., Ali, H., Hamka, J., Barat, T., Utara, K. and Padang, K. (2023).
Business Recovery Strategy in Post-Covid 19 Economic Turbulence: a Literature Review.

Trương, P., Du, H. and Đức, N. (2020). TÁC ĐỘNG CỦA ĐẠI DỊCH COVID-19 ĐẾN NGÀNH DU
LỊCH VIỆT NAM VÀ NHỮNG GIẢI PHÁP ỨNG PHÓ Impacts of Covid-19 pandemic on tourism
industry in Vietnam and initial response solutions. [online] Available at:
https://ktpt.neu.edu.vn/Uploads/Bai%20bao/2020/So%20274/379214.pdf.

Le, N.-Y. (2022) “Supporting businesses recovery after Covid-19 through social insurance
exemption and reduction mechanisms: Legal barriers need to be removed”, VNUHCM
Journal of Economics, Business and Law, 6(3), pp. 3000-3007. doi:
https://doi.org/10.32508/stdjelm.v6i3.754.
Văn, Hà, et al. TÁC ĐỘNG CỦA ĐẠI DỊCH COVID-19 và GIẢI PHÁP PHỤC HỒI CÁC DOANH

NGHIỆP NHỎ và VỪA Ở VIỆT NAM(2022).

Văn, H., Trường, S., Học Thương, Đ. and Việt, T. (n.d.). TÁC ĐỘNG CỦA ĐẠI DỊCH COVID-19
VÀ GIẢI PHÁP PHỤC HỒI CÁC DOANH NGHIỆP NHỎ VÀ VỪA Ở VIỆT NAM(2020). [online]
Available at: https://ktpt.neu.edu.vn/Uploads/Bai%20bao/2022/So%20299/380644.pdf.