{"id":4270,"date":"2012-04-23T09:57:00","date_gmt":"2012-04-23T02:57:00","guid":{"rendered":"https:\/\/dinhhongky.com\/\/uncategorized\/three-qualities-of-vietnamese-entrepreneurs-in-times-of-crisis-investment-bridge\/"},"modified":"2012-04-23T09:57:00","modified_gmt":"2012-04-23T02:57:00","slug":"three-qualities-of-vietnamese-entrepreneurs-in-times-of-crisis-investment-bridge","status":"publish","type":"post","link":"https:\/\/dinhhongky.com\/en\/articles\/three-qualities-of-vietnamese-entrepreneurs-in-times-of-crisis-investment-bridge\/","title":{"rendered":"Three Qualities of Vietnamese Entrepreneurs in Times of Crisis (Investment Bridge)"},"content":{"rendered":"
An article by Mr. Dinh Hong Ky, published on Nhip Cau Dau Tu on April 23, 2012). Professor Dinh Xuan Ba, Honorary Chairman of Secoin Construction Materials Joint Stock Company, stated that. Dare to accept risks is one of the three characteristics of the Vietnamese business class in times of crisis, along with innovation and pioneering in business activities.<\/div>\n
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Gi\u00e1o s\u01b0 \u0110inh Xu\u00e2n B\u00e1, Ch\u1ee7 t\u1ecbch danh d\u1ef1 C\u00f4ng ty C\u1ed5 ph\u1ea7n V\u1eadt li\u1ec7u x\u00e2y d\u1ef1ng Secoin, \u0111\u00e3 ph\u00e1t bi\u1ec3u nh\u01b0 v\u1eady.<\/div>\n
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Dare to accept risks is one of the three characteristics of Vietnamese entrepreneurs in times of crisis, along with innovation and pioneering in business activities.<\/div>\n
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Dare to accept risks<\/div>\n
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However, there is also a large number of Vietnamese entrepreneurs who do not dare to accept risks. They lack creativity, innovation, daring to think and act, and lack pioneering spirit. This is most clearly demonstrated in the herd mentality in business activities in recent times. The herd mentality in stocks, real estate, and in the multi-industry, multi-industry corporation model has pushed countless businesses to the brink of bankruptcy.<\/div>\n
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From another perspective, the risk-taking decisions of a part of Vietnamese businesses are still mainly reckless. Some people have not set out wise rules for accepting risks or lack discipline in complying with these principles. Others have not yet measured and quantified the risks.<\/div>\n
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Every investment opportunity always has potential risks. Some investments may involve more than one type of risk. A full understanding of the major risks is necessary to take calculated risks and make informed investment decisions.<\/div>\n<\/div>\n
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There are some common risks in business operations: default risk; business risk; cash shortage risk; purchasing power risk or inflation risk; interest rate risk; technology risk; political risk and market risk.<\/div>\n
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There is a very good saying: \u201cNo risk means no profit. High risk also means high profit expectation\u201d. The problem is how to manage that risk. Not all 8 types of risks mentioned above can occur at the same time and in the same investment. On the other hand, different types of risks are related to each other. It is important to carefully assess the existence of each type of risk and its level in each investment opportunity.<\/div>\n
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Since Vietnam joined the World Trade Organization, Vietnamese leaders and businesses often use the phrase \u201cgoing out to sea\u201d. Going out to sea means accepting risks. The vast ocean contains both opportunities for fish and shrimp in the hold, as well as the risks of big storms that sink ships. Only entrepreneurs who dare to accept the challenges of the ocean are worthy of receiving the essence of the ocean.<\/div>\n
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Innovation<\/div>\n
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It is a fact that innovation and creativity among a large number of Vietnamese entrepreneurs are not high. We often comment that Vietnamese people are smart and creative, but many times those innovations are fragmented, reactive, lacking long-term and proactive thinking.<\/div>\n
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Vietnam is influenced by Confucianism and Buddhism. These two streams of thought do not encourage people to be creative and innovative to overcome fierce competition.<\/div>\n
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Vietnam’s economy is entering a period of severe challenges. The ability to forecast, flexibility in business strategy and the ability to think differently from the norm are highly creative factors. That ability can help entrepreneurs bring their businesses through this difficult period.<\/div>\n
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Here I want to delve into the analysis of the innovative quality of entrepreneurs, which is the ability to think differently from the norm. The economic and financial theories, the business standards that seemed the most sustainable and advanced have now been shaken and caused skepticism for economists and the business community.<\/div>\n
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At the same time, businesses that dare to do things that go against the norm can bring unexpected successes. At the end of 2008, when the US financial market was shaken, according to standard logic, the USD must have depreciated. However, the reality shows that strangely, this currency has appreciated more strongly and sustainably than other currencies. If businesses behave in a non-standard way, this is a great opportunity for them.<\/div>\n
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American stock billionaire Warren Buffett and his principle of success in the stock market “invest when the market is scared…” is also a proof.<\/div>\n
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However, according to Dr. Nguyen Thi Tuyet Mai, a graduate lecturer in marketing, the ability to think outside the norm only appears in leaders who are very knowledgeable and have a firm grasp of norms.<\/div>\n
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Pioneering<\/div>\n
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When talking about the mission of a business, we often emphasize the leading role in economic growth, job creation, meeting social needs… In a profound way, the activities of entrepreneurs need to be pioneering, paving the way for new ideas, new perceptions and, to some extent, positively impacting the vision in society.<\/div>\n
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Pioneering is also the most important factor in competitive strategy. In some companies, creating novelty is the criterion for research and development of new products. Some companies launch a new product model every year, aiming to push competitors into the position of being latecomers. If competitors plan to copy a product, it is also the time for the company to launch a new model and sell it at a high price; and old models are discounted to compete with rivals. With this strategy, some companies have partly created a pioneering position in the market.<\/div>\n
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(*) Chairman and CEO of Secoin Construction Materials Joint Stock Company.<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

An article by Mr. Dinh Hong Ky, published on Nhip Cau Dau Tu on April 23, 2012). Professor Dinh Xuan Ba, Honorary Chairman of Secoin Construction Materials Joint Stock Company, stated that. Dare to accept risks is one of the three characteristics of the Vietnamese business class in times of crisis, along with innovation and…<\/p>\n","protected":false},"author":3,"featured_media":4268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"_links":{"self":[{"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/posts\/4270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/comments?post=4270"}],"version-history":[{"count":0,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/posts\/4270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/media\/4268"}],"wp:attachment":[{"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/media?parent=4270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/categories?post=4270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dinhhongky.com\/en\/wp-json\/wp\/v2\/tags?post=4270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}