Subject Of Sunderland

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Table of Contents Introduction2 Task 1a:3 Task 1b:8 Task 1c:12 Task 2a:13 Task 2b:15 Task 2c:17 Conclusion20 References21 Introduction Vinamilk is the symbol of success of public company in Vietnam. Many reasons are given to explain the success. In this assignment, by combining theory and reality of Vianmilk, I will try to explain for success of Vinamilk. I will mention to stakeholders of Vinamilk, I will evaluate the mutual influence between Vinamilk and stakeholders; what stakeholders hope from Vinamilk; what Vinamilk hope from stakeholders; how to both them make them satisfy mutually. After that, I will evaluate the effect of government on operation of company; how to company respond the requirement well. Although it is not an easy task, I hope I can complete well in assignment below. Task 1a: You are required to identify the mission, values and objectives of selected organization and assess the influence of stakeholders. Vinamilk is one of the local big companies in Vietnam. Their brand has become the habitual milk brand for customers in Vietnam market. The values of Vianmilk have affirmed for during a long time. Vinamilk builds missions, objects for company to continue developing in the future. Both of below information is taken from Vinamilk’s website. ? Mission: Vinamilk continues to expand its existing geographical coverage and product portfolios to maintain its[1]. ? Objectives: The objectives of the Company are to continually develop production, trading and service operations in its fields of business in order to maximize profits for Shareholders and to enhance the value of the Company; to never stop improving the lives, working conditions, and income of its employees; and to fulfill its tax obligations to the State. Additionally, Vinamilk connects the processing industry with the development of raw material zones with the aim of building a more independent source of raw materials now and in the future[2]. | | |Values : | | | |Vinamilk wish to be the most favorite product in all areas, territories. Therefore, we meditate that quality and creation is the | |companion of Vinamilk. Vinamilk considers customers our focus and commit to meet all demands of customers[3] | | | | | | | | | |There are three types of stakeholder who have influence on company. | | | | | Figure1. The influence of stakeholders on Vinamilk Internal stakeholders : Connected stakeholders : External stakeholders As we see from illustration, we can see the close relationship between Vinamilk and three kinds of stakeholder. They influence not only in company but also mutually. Internal stakeholders play an important role Inside the Company. They are the life of Vinamilk. They include managers and employees. They have to close connection so if they can cooperate together well the system of company can run efficiently. Therefore, vinamilk has to concentrate on developing this relationship. Besides, they want to have good work environment. They only work well if they work in good environment. Both of them join in all activities in company so they are the people who make decision the success or unsuccessful of Vinamilk. Especially, for managers, they manage all operation of company so all their decision influence on present and future of company. Besides, the role of employees is also important because they join work directly so the result of their work will influence on company. Therefore, Vinamilk never stop improving the lives, working conditions, and income of its employees. Connected stakeholders are very important for their company. Suppliers Suppliers will play an important role in quality and prices of products of Vinamilk. If they can supply good raw materials such as milk, tins, carton packaging and packaging machines etc with reasonable price for company, company can produce good products with competitive price. It will create advantages for the company in competition with competitors. Therefore, Vinamilk need build relationship with suppliers. However, suppliers can sell raw materials for companies who can buy with high prices so Vinamilk has to find good ways to keep long term relationship with them. It will help Vinamilk have raw materials stability. ? Distributors Distributors play an important for Vinamilk. They cannot sell products for customers effectively if they do not have good distributors. Although Vinamilk can build agency, it does not enough distribution channels. They need have many different distribution channels. By cooperate with distributors, they open distribution channels quickly. Products can come with customers with less time. Therefore, if distributors refuse to sell their products, it will be very dangerous for development of Vinamilk. ? Bankers All companies need capital to invest and open producing. When they need borrow money, bankers are usually the good choice because bankers always have a lot of money for them. However, if interest rate is too high, it will be really difficult for company. They cannot accept to borrow money with high interest rates if they do not they cannot sure that they earn enough profit to pay for bankers in short time. Therefore, they do not have enough braveness to invest so they can develop quickly. It is really have a big effect on future of company. ? Shareholders Shareholders always play a very important role in the company. There are two main kinds of shareholder; they are major stakeholders and minor stakeholders. For major stakeholders, they have a big effect on company; they can give important decisions for companies. All operation is managed by them. For minor shareholders, their effect on company is not big. Although they do not play an important role in important decisions of company, their opinions also influence on operations of companies. ? Customers Customers are the life and death of Vinamilk, Vinamilk cannot exist without them. Therefore, the main objects Vinamilk is making customers satisfied. By using Vinamilk’s products, customers will bring much benefit for Vinamilk. If their customers believe and continues to use their products for a long time, even customers also can advertise to customers ‘acquaintances about company’s products, it will help the company has more profit and it also will create a strong basic for development of Vinamilk in the future. However, if customers turn one back on Vinamilk’s products, Vinamilk can lose, even they can bankruptcy. ? Advertising Company Advertising Company is the connection between Vinamilk and new customers. They will help new customer know about the company. If the company is good, they can bring new customers to the company. External stakeholders are really important. They can effect on not only the company but also connected stakeholders. ? Government Government will create business environment for Vinamilk. All policies can be the advantages or disadvantages for company. If the government create good environment by good policies, company can develop quickly. Conversely, if the government makes difficult for the company, company cannot exist and develop easily. The company’s plans have to change following policies. ? Competitors Market is a battlefield so it is not easy for Vinamilk to exist and develop. They have many competitors. Especially, there are more dangerous competitors since Vietnam join WTO. Vinamilk has to competitive fiercely with their competitors if Vinamilk wants to develop. Vinamilk need find their competitor’s advantages and disadvantages and they need know their advantages and disadvantages. After that, they can improve their strengths and attack their competitor’s disadvantages. It helps Vinamilk have opportunities to win their competitors. The companies cannot exist and develop without community. They have live harmoniously with everybody. The companies must to have responsibility for communities; they have to make sure that they balance between their profit and community’s profit. Task 1b: Evaluate the extent to which selected organization achieves the objectives of three stakeholders Vinamilk cannot operate without their stakeholders. Stakeholders play an important role in company’s operation, they influence on all operations of company. Each stakeholder cannot cooperate with company without objects. Both of them want to get benefit from cooperating with the company so Vinamilk has to help customers achieve their objects if they want to continue and develop the relationship with their stakeholders. • Internal stakeholders: When the employees join Vinamilk, they hope much benefit from Vinamilk. Firstly, employees always get high salary and Vinamilk always believe that human is the most property value of company so they invest much for employees. Vinamilk never stop improving the employees’ lives. Vinamilk understands that when working at Vinamilk, employees will get a satisfactory salary according to their working capacity and competitive salary. Bonus stock Program is considered as the motivation for teams of devoted Vinamilk’s employees[4]. Secondly, employees want have good work environment. Vinamilk is always exerting them to create a professional, friendly, and open-hearted environment in order for individuals to show employees’ creativeness, promote their potentials to make differences. Thirdly, employees also want to have more opportunities to improve their skills and knowledge. It helps them to have more opportunities to get promoted in their job. Besides, Vinamilk understand that training and human resources development is the strategy of investment for our company’s success in the future so professional and skills training courses as well as practical training days are held frequently[5]. • Connected stakeholders: Vinamilk cooperates with many partners. They include many different components. They have much effect on Vinamilk. Everyone has objects so Vinamilk always try to make them satisfied. ? Suppliers: Suppliers are the important partner of Vinamilk. They want to get as much profit as possible by providing raw material for Vinamilk. They hope that their products will be bought with suitable price by Vinamilk. In addition, suppliers always want to have a long term relationship with Vinamilk. It helps them have regular orders. It is very important for future of suppliers. They want they influence the quality and price of products of Vinamilk. Good suppliers can help Vinamilks have the raw materials with high quality and they can produce good products with competitive prices. Therefore, building long-term ship is one of important goals of Vinamilk because of benefit of both of them. Vinamilk has many actions to express company’s objectives. For example: the amount of milk powder bought from the latter varies every year based on the best negotiated prices of each supplier. It makes sure that profit of suppliers is always guaranteed. When the world price of milk increases, they will adjust their price with their suppliers accordingly. By that way, Vinamilk creates many advantageous conditions to local suppliers to exist and develop in the future. It can bring profit to both parties. ? Distributors: Distributors also are important partners of Vinamilk. Their products cannot reach customers without distributors. Up to December 31 2007, they had sold their products through 201 distributors and over 141,000 outlets in 64 provinces in Vietnam[6]. All distributors want to be provided with good quality products from Vinamilk. It helps them increase sales turnover and they can increase reputation with customers because they always sell good quality products. Therefore, Vinamilk always try to provide high quality goods for distributors. Their experienced sales team of 1,787 salespeople nationwide has supported the distributors to attend to the outlets and customers better as well as advertising our products[7]. They also have highly qualified and experienced marketing and sales staff to analyze and identify the consumers’ trends and tastes so they can provide goods which are suitable with requirement’s customers. It helps them always provides good products which is suitable for customers’ requirement so distributors can be easy to sell product for customers. ? Shareholders: Shareholders are owners of Vinamilk, they own 49% charter capital of company[8]. The Shareholders Meeting has the highest jurisdiction of the Company, and all Shareholders with voting rights are allowed to participate[9]. They can vote and make important decisions at the meetings so they play an important role in Vinamilk Company. They always hope that their money will be invested efficiently. In other words, they want to have high dividend. Therefore, Vinamilk try to develop as much as possible. They build many plan and strategies which can help company develop quickly in the future. Both of things have one purpose; they want to increase their turnover. It can bring more profit not only to the company but also to the shareholders. ? Customers: Customers are the main object of Vinamilk and they always look for many things from Vinamilk. They want to buy many high quality products with low price and they also want to get good services from Vinamilk. Therefore, Vinamilk have had innovation in production to adapt those requirements of customers. They develop a comprehensive portfolio of dairy products[10]. They want to not only improve quality of products but also decrease price of products and customers can have opportunities to buy products with suitable price. They also develop new product lines to satisfy different consumer preferences[11]. It also helps them open product-line so customers have more choices. It is very important in nowadays when customers’ need has been changing. Vinamilk considers customers our focus and commit to meet all demands of customers. It helps them have motivation to make customers satisfy. • External stakeholders: Government affects all operations of companies. All operation have to operate within the environment which government creates because Government wants to make sure that they create a fair business environment for all companies and operation of company can bring much benefit for community. Firstly, Vinamilk have to observe the laws and regulations of government. Secondly, they want Vinamilk to contribute to Vietnam’s economy in many ways. Vinamilk pay tax in time. Vinamilk also is one of 100 companies pay more much tax in 2007 in Ho Chi Minh City[12]. Ho Chi Minh is the largest city in Vietnam so if Vinamilk pay much tax there, it also pays more in all Vietnam. Besides, the development of Vinamilk also can contribute to the development of food industry in Vietnam. It not only helps in improving the position of Vietnam food companies but also helps in improving the competition of economy in Vietnam. Finally, Government hopes that Vinamilk can create more job opportunities for citizen. Vinamilk has been carrying it out well. They develop quickly and they recruit employees. Besides, they also connect with more farmers. It helps farmers improve the living standard through breeding milking cows. Vinamilk cannot exist and develop without community. Communities hope that Vinamilk can create more jobs for citizen and Vinamilk has been carrying out well. They has been developing quickly, they need a lot of new employees so Vinamilk creates more job opportunities for them. Communities also hope Vinamilk contribute social activities. Vinamilk has created a scholarship fund for pupils[13]. Besides, Vinamilk also give a charity fun for poor children, orphaned with disabilities across the country. It helps them have more opportunities to rise in their life. Task 1c: Explain the responsibilities of the selected organization and strategies employed to meet objectives of stakeholders Vinamilk has many responsibilities and they have clear strategy to adapt their responsibilities and their objects. For social responsibilities, Vinamilk have responsibilities for many areas. ? Shareholders Vinamilk has the responsible for shareholders to increases profit for them as much as possible because they invest lot money in the company. Therefore, they want to get much profit from company. Accordingly, Vinamilk have proposed two main strategies to business more profitably. Developing a comprehensive portfolio of dairy products to target a broader consumer base and expand into higher margin value-added dairy products[14]. Besides, they also expense their market share in existing and new markets[15]. By that ways, they can earn more profit for shareholders. It is really a good strategy because it can open to business. Distributors For distributors, Vinamilk have to be responsible for them that Vinamilk have to provide their products stably with good quality. They develop raw material source to ensure a reliable and consistent frsesh milk supply base[16]. Besides, they develop new product lines to satisfy different consumer preferences[17]. It can help distributors can have many choices when they buy products of vinamilk. They can choose products which are suitable with their plans and their customers’ requirements. For management responsibilities, Vinamilk have responsibilities with employees and managers. ? Employees For employees, Vinamilk has to recruit new staffs carefully because it will have much effect on the company in the future. If they do not recruit carefully, new staff may not work effectively so they will have to sack new staff. It can create demoralizing incidents in company. Besides, Vinamilk should care about redundancies. It is not fair for employee if company try to recruit employees as much as possible when they need a lot contracts. After that, when they do not have enough contracts, they sack employees. Vinamilk has to recruit employees with suitable numbers and they have to make sure that they can work for a long time. Vinamilk also have to concentrate on retirement scheme. It is very important for employees if company want to keep working for company for a long time. They cannot feel secure if they are not sure of what they can enjoy when they cannot work. To do tasks, they try to develop the quality of products and to invent new products to adapt different requirements of customers. By that ways, Vinamilk can increase the profit. If they can earn more profits, they can have money to improve retirement system for employees. Besides, by developing a comprehensive portfolio of dairy products, they can open production. At that time, they can create more job opportunities for employees. Moreover, Vinamilk can avoid redundancies. ? Customers For customers, Vinamilk’s responsibilities are providing products and services which customers expect and they have to be honest and fair dealing with customers so one of Vinamilk’s strategies is developing new product lines to satisfy different consumer preferences. It helps customers have more choices. It is really important if Vinamilk want to keep more customers for a long time. Moreover, they can have loyal customers. They have a lot profit from strategies. Besides, by developing of raw material sources, they can ensure a reliable and consistent fresh milk supply base. It is the promise of Vinamilk that they always provide products with the best quality. Task 2a: Explain how economic systems attempt to allocate and make effective use of resources available within the country Vinamilk is founded in 1976. Vinamilk was managed by the Ministry of Food Industry from 1978 to 1991. In 1976-1986 periods, Vietnam economy was the command economy. Goods were allocated by coupon system; goods were not bought on free market. Therefore, the kind of system what was applied in ompany was the command economy system, the kinds of milk products which would be produced were decided by Ministries. Basing on the policies which were made decision by Vietnam parliament, Ministry would identify what need for life of citizen so they would decided. After that, they would give the quantity and quality of products for Vinamilk. Vinamilk only could produce products which would provide for citizen in Vietnam. In other words, both of products were produced because of benefit of society. May be, they could have enough ability to produce products for export. It would be useful for development of Vinamilk. However, they could have power to do it. From 2003 until now, Vinamlik has been privatized. Part of Vinamilk’s fortune has been sold to outside so Vinamilk has transformed to mix economy system. However, Government still has owned over 50% fortune of Vinamilk so they also have kept right control in company[18]. However, share holders also have played an important role in Vinamilk because they also have owned a part of fortune of Vinamilk. The kind of products has been decided by not only ministry but also by shareholders. Shareholders want to get profit so they require Vinamilk has to business efficiently. Therefore, Vinamilk have produced products to meet the requirement of market to collect profit. Vinamilk should find ways to reduce the cost of products but their products have to make sure that it brings much benefit for community. Therefore, they can get maximum profit, their profit is limited. Besides, in the past, they only could concentrate on the inland customers but they can open market to foreign market. For example: they can produce products to sell for customers in Cambodia. However, they still must concentrate on inland market than foreign market. In the future, Vinamilk will be privatized completely. Ministry only will keep a part of share in company so they do not affect much on company. Company can be independent in operation. They can decide what will produce. They will base on much the requirement of market and they will produce products to meet their requirement. Besides, they also depend on the suppliers, they helps Vinamilk identify the quality and quantity of products. At that time, they cannot control by ministry so they can concentrate on seeking the maximum benefit. They can find the good ways to reduce the cost of products as much as possible without caring about benefit of society much. Besides, they do need pay attention to the interest of customers who do not have more opportunities use their products. They only concentrate on the customers who can bring much profit for company and they will divide customers into many level. They will milk products which are suitable with every kind of customers Task 2b: Discuss the impact of social welfare and industrial policy initiatives on selected organizations and the wider community Social welfare policies affected much on operation of Vinamilk. It includes many policies. However, I want to mention pension plan and gender equality at work. In my opinion, two policies play an important role for operation of company. ? Pension policy : Pension policy mentions retirement plans. When everybody decides to work for other company, they care about the pension of company. Pension plays an important role for them when they do not have work force. Although their children have responsibilities to serve them when they are old, they still want to have pension. They want to reduce their children’s burden. Vinamilk understands the requirement of candidates so they also care about their pension plans. It helps employee feel secure about their future. It also brings many benefits for not only employees but also company. It helps company attract more good employees for company so they can build good staffs for company. It is really important for development of the company in the future. Besides, company can keep good employees work for them for a long time. Employees can not feel secure to work for a company until they are old if they do not make sure that they will still have a good life after they do not have work force. However, beside advantages, it also has two disadvantages. Firstly, company will have to spend a lot of money for this plan. They have to maintain a fund which is used to pay for retired employees every month. Furthermore, retired money also likes salary, it needs to rise continuously. They cannot maintain a permanent number of retired money when living costs has been raised continuously. Secondly, if the company does not open to business and the number of retired employees is higher than the employees is working for company. It is really a big problem for company. Pension plan also affect much on community. The percent of old people in modern life has risen so the government has to create more policies to support their life. If the old people have suitable pension to have good life so the government does not need pay money for them. They can invest it to other areas such as building public building. So it brings much benefit for community. ? Gender equity : Gender equity is the important problem in modern life. All companies are encouraged to create more work opportunities for women. It helps women improve their position in society. Vinamilk also need to do it so it affects much in many activities of company. Firstly, it affects on recruitment policy. They have to correct their recruitment policy; they need recruit more woman employees. Besides, company needs to review all work in company. After that, they indentify what work is suitable with women and they can raise the number of woman employees at that work. For example, in milk factory, women can work soft task as sticking the labels on milk bottles. However, if the company has too many woman employees, a problem can happen. That is labor turnover. Most of Vietnamese woman employees usually get married. After that, they can be pregnant so they have to be absent in period time. Companies have to ensure woman employees ‘interest so they usually pay salary for them during their blackout time. Besides, to make sure that the speed of common works happen normally. May be, the company has to find other people who will replays their employees in their employees’ blackout time; it makes company cost much money. Furthermore, they have to take time to train new people and new people cannot work well as employees. For community, by increasing the woman employees in work, it can help increase the role of women in society. It is really good for women but it is ot easy for women recognize their time. For men, they do not do house work, they can only use time at home to relax but women have to do housework at home. They do not have time to relax . However, an opposite problem can happen. The role of women has risen continuously, they have more opportunities to get promote in their work so they can catch many important positions in companies, they live a life like men, they only concentrate on working. They do not use much time for family. Many women do not use much time to educate their children so it can bring some bad effects for growth of children. Besides social welfare policy, industrial policy also affect on the operation of Vinamilk. It comprises many problems. However, I want to mention improvement in infrastructure. Vietnam government has been investing a lot of money to build new road network and road system in recent years. Besides, they also have been spent lots of money to improve and open old road system. Especially, the Government has decided to mobilize VND36 trillion (US$2. 1 billion) through the issuance of Government bonds for the transport sector[19]. It brings many benefits for Vinamilk. First of all, their production can conduct quickly. Factories can get raw materials from farms in the countryside easily. Besides, Vinamilk can build distribution system better because the transport can be conduct easier with good road system, even they can open sell areas to countryside. It also reduces stress for commuting employees. When a problem happens, they can gather employees quickly. However, they need pay tax completely, it will help government has budget to invest building road. Besides, they also can cooperate with government to build new road with many different form. For example: they can build new roads and the government can allow them to collect fee. Community also collect many benefit from this policy. It can reduce the number of traffic jams so it can bring much more benefits for community. For example: if one person has to lose two hours every day because of traffic jam, they have to go to work 10 hours. However, if he does not meet traffic jam so he can go home earlier and he can have more time with his family. He also has more time to teach his children so it is really good for society. They can reduce the number of accidents which originate from bad roads. Especially, in bad weather, bad roads can cause the accidents. Task 2c: Evaluate the impact of macro-economic policy (fiscal and monetary policy) measures and influence of the global economy on selected organization and stakeholders in your country. Vietnam has joined WTO in November 7th, 2007. From that time, the economy of Vietnam has step to a new page. Fiscal policy and monetary policy has changed to suitable with the new condition so it affects on operation of the Vinamilk Company. For fiscal policy, it includes: • Taxation and other sources of income. • Government spending • Borrowing whenever spending exceeds income • Repaying debt when income exceed expenditure In the past, local companies were protected by tax policy of government; they did not pay much tax like foreign companies so they did not compete with foreign companies. However, everything has been changing now. Foreign companies will be treated equally like inland companies. They will not pay much tax as in the past and foreign companies with strong finance, many experiences about competition. It will create heavy pressure on local company like Vinamilk. It will put local companies like Vinamilk in front of a new difficult challenge so Vinamilk has to do many tasks if they do not want to be defeated on the Vietnam market. Besides, an increase or decrease of tax will also have an influence on Vinamilk. If government increases the tax, Vinamilk will meet many difficulties. They will not earn much profit, but they cannot increase the price of products to earn much profit because there are lots of milk companies in Vietnam market and a few of it are famous companies in area or over the world so they are dangerous competitors of Vinamilk. Vinamilk has to find how to decrease the price of the products and increase the quality of their products to competitive with them but they still can earn profit for stakeholders. The task is not easy. If government decreases the tax, it will create many opportunities for company to develop. They can have much money to continue investing; they can open producing and research new products. They can spend a lot of money for marketing activities…Company can earn much profit so their stakeholders also earn much profit. Besides, Vietnam government also spends a lot of money to invest in many areas which have good influences on operation of Vinamilk. Spending on transport is one of it. Government spends much money to build new road systems; open and upgrade old road systems; so transport of company conducts easily and quickly. The distance between raw material areas, factories, and distributors can be shorter. It helps company save a lot time so it will help company can earn much profit. The Vietnam government spends a lot of money for education; it occupies 5. 6 % of GDP[20] . For example: they spend much money to build and upgrade the educational infrastructure for schools, junior college, and universities. During the period 2001 – 2005 the Government annually allocated a certain sum and mobilized other resources in order to send 400 – 500 learners to study in foreign countries with advanced science and technology[21] etc. Government hopes that they can educate good quality human resources for the country by improving the quality of education. Therefore, it will help company have many opportunities to build a good workforce from local human resources. They can attack the world market by local human resources. Both of policies are typical policies which express the good influences from fiscal policies on Vinamilk and Vinamilk need to take full advantage of those policies. For monetary policy, it includes: • Interest rates • Exchange rates • Control of money supply • Controls over bank lending and credit Vietnam government tries to control monetary policy of Vietnam. The depreciation of the dong with respect to the US dollar would stay at low level so it is the advantage for Vinamilk. When they sign contracts to buy raw materials or machines with foreign partners, they do not worry that the value of contracts will increase immediately. Besides controlling exchange rates, government also try to control interest rate of bank. It affects much on opening business of Vinamilk. If the government asks banks raise the percent of interest rates, it is not good for opening plans of Vinamilk. They cannot borrow money to buy more machines and build more factories if they want the output of company to rise quickly. It will affect the development of Vinamilk. For WTO, when Vietnam joined it so Vietnam has to follow the rules of WTO. They have to open the economy. It will create more opportunities for foreign company to join Vietnam market easily. They are treated like local companies so it will create a pressure for Vinamilk. The local companies were protected by tax policies for a long time; it reduced local companies’ competitive ability because they did not need to be competitive with other companies. Foreign companies are usually multinational company and they have much experience in competition in many different countries so they have more advantages in competing with local companies. Besides, most of local companies are medium companies or small companies. Therefore, foreign companies can easy defeat the local companies. They are usually big companies with strong finance, good management system. However, it also creates more opportunities for Vinamilk. They have more opportunities to join international economy. They can join foreign markets easier than in the past. Vinamilk will be treated as local companies in those countries. Government of countries cannot create barriers to block Vinamilk. Besides, Vietnam government has to reduce import tax. It brings much benefit for Vinamilk. They can have good condition to import machines and raw materials with good quality and suitable price. Therefore, they can produce products with suitable price and good quality. Conclusion There are a close connection between Vinamils and their stakeholders, they influence mutually about many sides. Both of them want to get benefit so they need helps mutually if they want to achieve their own objects. Besides, all operation of Vinamilk is influenced by policies of Vietnam government. It can advantages or disadvantages so Vinmilk need reduce disadvantages and take full advantages of those policies. If they can do it, they can develop in the future. References 1. https://www. vinamilk. com. vn. 2. https://www. saharavn. com. 3. https://vietnamnews. vnagency. com. vn. 4. https://www. ap-foodtechnology. com. 5. https://www. thanhniennews. com. 6. https://en. moet. gov. vn. ———————- [1] https://www. vinamilk. com. vn/ENG/? vnm=about&id=2. Last accessed 10-11-2008 [2] https://www. vinamilk. com. vn/ENG/? vnm=about&id=2. Last accessed 25-11-2008 [3] https://www. vinamilk. com. vn/ENG/? vnm=about&id=6. Last accessed 10-11-2008 [4] Available: https://www. vinamilk. com. vn/ENG/? vnm=news_career&m=9. Last accessed 15-11-2008. 5 Available: https://www. vinamilk. com. vn/ENG/? vnm=news_career&m=9. Last accessed 15-11-2008. [5] Available: https://www. vinamilk. com. vn/ENG/? vnm=market&id=14. Last accessed 16-12-2008. [6] Available: https://www. inamilk. com. vn/ENG/? vnm=market&id=14. Last accessed 16-12-2008. [7] Available: https://www. vinamilk. com. vn/ENG/? vnm=Share_detail&id=39. Last accessed 16-12-2008 [8] Available: https://www. vinamilk. com. vn/ENG/? vnm=DownloadFile&m=11. Last accessed 16-12-2008. [9] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [10] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [11]Avaww. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [12]Available:https://www. saharavn. com/index. php? page=5? 101&script=tintuc&view=5780&type=news. Last accessed 16-12-2008. [13] Available: https://vietnamnews. vnagency. com. vn/showarticle. php? num=01SOC091206. Last accessed 16-12-2008. [14] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [15] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [16] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [17] Available: https://www. vinamilk. com. vn/ENG/? vnm=about&id=7. Last accessed 19-12-2008. [18] Available: https://www. p-foodtechnology. com/Industry-drivers/Vinamilk-set-to-seek-new-investors. Last accessed 16-12-2008. [19] Available: https://vietnamnews. vnagency. com. vn/showarticle. php? num=02COM291108. Last accessed 18-12-2008. [20] Available: https://www. thanhniennews. com/education/? catid=4&newsid=33635. Last accessed 16-12-2008. [21] Available: https://en. moet. gov. vn/? page=6. 4&view=3461. Last accessed 16-12-2008. ———————– VINAMILK Customers Managers Advertisement Companies Bankers Shareholders Competitors Community Local authorities Suppliers Employees

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