CREDIBILITY – THE SECRET TO SUCCESS OF SME

Updated: 18/4/2022 | 1:42:47 PM

The Site Visit program 01/2022 was held on April 15, 2022, at the Viet Tri Office of the Hoa Binh Minh Group. Its theme was "SME Enterprise Growth and System Development - From a Young Enterprise to a Successful Service Trade Model in Vietnam." The Group and the Hanoi Young Business Association (HanoiBA) co-organized this program.

To pay respects and gratitude to the Hung Kings on the occasion of the Hung Kings' Death Anniversary, the Group's Board of Directors Hoa Binh Minh and business delegations from HanoiBA in Phu Tho went to Hung Temple to offer incense according to high-level rituals, in keeping with the nation's good tradition of "when drinking water, remember the source."


The delegation offering incense at Hung Temple

Nearly 200 businessmen from HanoiBA and Phu Tho Young Entrepreneurs Association attended Site Visit No. 01/2022, which included visits to Viet Tri Office which has the most modern facilities in the locality, and Hoa Binh Minh’s Honda, Hyundai, and Vinfast car showrooms in Viet Tri, and a discussion with Chairman/CEO Bui Minh Luc.

Mr. Tran Dang Nam, Chairman of HanoiBA, stated at the event's start that Site Visit is a program that allows entrepreneurs to visit models, learn experiences, and meet new partners. The tagline "Engaging Entrepreneurs - Elevating Value" is what HanoiBA wants to propagate among the entrepreneur community in the Capital and other towns and provinces.


 

“Competence is Knowledge - Skills - Attitude”

Chairman/CEO Bui Minh Luc - a member of Vietnam's first generation of entrepreneurs - spoke about the experience of beginning a business from a tiny building material shop in Yen Bai in 1993 and the formation and development of Hoa Binh Minh Group until now. His joy comes from sharing insights learnt from his business experience with young entrepreneurs.

Competence, he believes, is the cornerstone for starting a firm. Knowledge, skills, and attitudes all come together to make up competence. Knowledge includes professional knowledge and basic knowledge. Skills include labor skills, soft skills, life skills, social skills, thinking skills, problem solving skills, communication skills. Attitude refers to the desire to act in the best interests of the group, as well as the willingness, hard work, loyalty, and honesty, and interactions within and outside the company.

There is no other way to become competent than to study and work. The process of acquiring and accumulating professional knowledge and expertise is known as learning. Working is a means of gaining experience and encouraging creativity. Based on his personal learning process, Chairman/General Director Bui Minh Luc identified 05 sources of learning: teachers, self, idols, friends, books and the internet. He has been learning non-stop every day of his life from these sources. He learns in order to think differently, to create, to stand out, and to break through. He emphasized that studying and working together help people realize their full potential and carry out their plans and ideas.


 

During the discussion with young entrepreneurs, Chairman/General Director Bui Minh Luc candidly answered numerous issues pertaining to opening new categories, attitude, and bravery in the face of problems and failure.

Nearly 3 decades of Hoa Binh Minh has been a journey with ups and downs. Customers and partners' last impressions of Hoa Binh Minh's leader are his credibility and conscientiousness. He has the spirit of a steady soldier who never falters. He is patient, determined, and sets clear goals that he works hard to achieve.

Based on his experiences in beginning a business and expanding the system, Chairman/CEO Bui Minh Luc said that the secret to his success rests in the principle “BUSINESS ACCUMULATION – CAPACITY GROWTH – EXPANSION AND DEVELOPMENT”.

In the seminar, young businessman Bui Quang Minh - Vice Chairman of HanoiBA, Director of the Group Office, Director of Hoa Binh Minh Automobile Company, commented that the success secret of President/General Director Bui Minh Luc also lies in speed, hard work, strategic and long-term vision. Starting with the first HEAD Honda Yen Bai, in 1998, he chose to open a series of HEADs in the Northwest and Northern provinces, then he expanded to the South.

Furthermore, the Director of the Group Office stated that in order to succeed, we must evaluate possible risks and develop a risk compensating mechanism. Managers must be able to predict declining business segments in order to calculate margins and rising business segments in order to restructure. All of Hoa Binh Minh's business segments have thorough long-term cash flow, finance, and human resource plans.

Hoa Binh Minh will become the LEADING INVESTMENT, SERVICES, TRADING GROUP IN VIETNAM in the long-term strategic orientation from 2021 to 2030, maintaining its leading position in existing sectors while expanding its investment in new domains when the opportunity arises.

In the period 2021-2025, specific objectives include accelerating breakthroughs in sustainable development with a revenue of more than 2 billion USD and participating in an IPO on the Vietnam stock exchange in 2025.

Mr. Tran Dang Nam appreciated the Hoa Binh Minh Board of Directors for their warm welcome, as well as Chairman/General Director Bui Minh Luc's open and passionate sharing and the vital values that the Site Visit program delivered to young entrepreneurs. Mr. Tran Dang Nam also concluded that the secret to success may be observed in the Hoa Binh Minh model's use of credibility and conscientiousness to customers. These are also core values ​​that have been developed and widely disseminated across the Hoa Binh Minh system.


 

The program came to a completion with the induction of 20 new HanoiBA members.

Some pictures of HanoiBA business delegations in Phu Tho visiting Viet Tri Office and Hoa Binh Minh Automobile showroom: