Ms Huynh Thi Dung, General Director of TIE Joint Stock Company, has experienced the hardest time of the subsidy period. A Vietnam Business Forum reporter has an interview with her on the Company’s activities.
Despite fierce competition from electronic and IT agents, the Company still acquired a good income last year. Could you talk more about it?
In 2008, the Company made nearly VND350 billion, a considerable amount amidst the economic recession and aggressive competition from other distributors who tried their best to boost sales. The result came from our well-prepared infrastructure like a wide agent network, professional salespeople, progressive working environment and strong corporate culture. Prices of electronic appliances repeatedly dropped and stockpiles of outdated models caused a loss. Thus, we cleared our stockpiles in the third and fourth quarters of 2008 to ensure profitability. Last year, our revenue might be lower but our policy of avoiding loss was on the right track. economic recession and aggressive competition from other distributors who tried their best to boost sales. The result came from our well-prepared infrastructure like a wide agent network, professional salespeople, progressive working environment and strong corporate culture. Prices of electronic appliances repeatedly dropped and stockpiles of outdated models caused a loss. Thus, we cleared our stockpiles in the third and fourth quarters of 2008 to ensure profitability. Last year, our revenue might be lower but our policy of avoiding loss was on the right track.
What is thedifficultywhen you are the agent for foreign electronic companies?
The biggest difficulty is to complete all signed commitments with foreign partners to ensure the highest benefits. For instance, we signed contracts with punctual payment, price protection and discount clauses. If we were unable to make good forecasts, we would suffer stockpiles and losses. We had to reach a certain sales value before we enjoyed discount and we had to make punctual payment before thinking of bonus money. However, we will expand into other fields like production, retailing expansion, hotel service, travel service, office for lease and apartment trading.
Before you were a director of a joint stock company, you were a division director of a state-owned company. How have you changed to adapt yourself to the new position?
When I worked for a state-owned enterprise, I felt stable and secure with the income. But in a joint stock company, I am responsible for the dividend for my shareholders and living conditions of my employees. A joint stock company is a combination of a private-run enterprise and a state-owned enterprise. If we work like a state-owned company, we will fall into stagnation and if we operate as a private-owned company, we will easily commit operational mistakes like with financial statements. I always think that I have to change my way of thinking to compete and my ambition must be pervaded in the company. I quit the division manager of the State-owned enterprise to be a CEO of a joint stock company while for a time I felt I felt exhausted due to the pressure of work and living. Fortunately, I receivedencouragement from my higher authorities, my friends and relatives, to undertake responsibilities.
In your acknowledgement - what is the advantage of being a businesswoman?
Young managers are knowledgeable but they cannot bear heavy pressure as experienced ones can. The weakness of the women becomes the advantage that men do not have. For example, when men work together, they celebrate with a party after achieving a goal, but women are stricter. This avoidance saves much for the company. Women are more attentive and selective than men.
I also know how to balance the company’s work and my family’s duty. I am proud to have the strong support from my husband and daughter. have the strong support from my husband and daughter.
Reported by Thanh Tien
Vietnamese
