VIETNAM Case Study
Submitted By: Sonal Suresh CHANDWANI M2 – IBME
Table of Contents
Foreword 3
Positive aspects of Vietnam 3
Vietnam- Culture, Tradition and Language 5
Intimidations for investing in Vietnam 5
Positive Aspects for Synthenia investing with Vietchem 6
Negative Aspects for Synthenia investing with Vietchem 6
Positive aspects for Vietchem investing with Synthenia 7
Negative aspects for Vietchem investing with Synthenia 8
Recommendations …show more content…
Strong Management: It is very important to have a strong management team from both the parties. So it’s very important to hire efficient and skillful managers who also work considering the interests of both the parties. They should also realize the common goal of The Vietnam Polymer Company that needs to be achieved at the end. One of the issues overlooked during the decision phase id not understanding the differences between the cultures of two companies and for The Vietnam Polymer Group being the international joint venture, there is a need to develop a common culture setup which is unique to the collaborative venture for the Vietnam Polymer Group including their strategy, mission and vision. The managers from both companies should work together understanding that both have different strategies and different ways of finding solutions to the issues of the company. Respect and cooperation between two parties are the backbone in forming a successful joint venture. It is the responsibility of the managers to maintain a balance between the needs of Synthenia and Vietchem. They should find out whether the companies are able to manage their costs before their start generating their revenues. Monthly Reviews should be done by the managers in the initial phases to understand if the Joint Venture is going to be success or not and to check if The Vietnam Polymer Company is following the Development plan decided by the management. One of the most important parts to be played by the managers is to take care if the communication by both the companies is well established and clear. Clear and pre written communication will avoid discrepancies later. Both the companies may have differences in the capital, technology used, risks, assets etc. These issues should be carefully studied by the management in the decision period of forming the collaboration. The company should study the legal records of the JV partner of 7 to 10 years back. By this, they would get an insight of the
Submitted By: Sonal Suresh CHANDWANI M2 – IBME
Table of Contents
Foreword 3
Positive aspects of Vietnam 3
Vietnam- Culture, Tradition and Language 5
Intimidations for investing in Vietnam 5
Positive Aspects for Synthenia investing with Vietchem 6
Negative Aspects for Synthenia investing with Vietchem 6
Positive aspects for Vietchem investing with Synthenia 7
Negative aspects for Vietchem investing with Synthenia 8
Recommendations …show more content…
Strong Management: It is very important to have a strong management team from both the parties. So it’s very important to hire efficient and skillful managers who also work considering the interests of both the parties. They should also realize the common goal of The Vietnam Polymer Company that needs to be achieved at the end. One of the issues overlooked during the decision phase id not understanding the differences between the cultures of two companies and for The Vietnam Polymer Group being the international joint venture, there is a need to develop a common culture setup which is unique to the collaborative venture for the Vietnam Polymer Group including their strategy, mission and vision. The managers from both companies should work together understanding that both have different strategies and different ways of finding solutions to the issues of the company. Respect and cooperation between two parties are the backbone in forming a successful joint venture. It is the responsibility of the managers to maintain a balance between the needs of Synthenia and Vietchem. They should find out whether the companies are able to manage their costs before their start generating their revenues. Monthly Reviews should be done by the managers in the initial phases to understand if the Joint Venture is going to be success or not and to check if The Vietnam Polymer Company is following the Development plan decided by the management. One of the most important parts to be played by the managers is to take care if the communication by both the companies is well established and clear. Clear and pre written communication will avoid discrepancies later. Both the companies may have differences in the capital, technology used, risks, assets etc. These issues should be carefully studied by the management in the decision period of forming the collaboration. The company should study the legal records of the JV partner of 7 to 10 years back. By this, they would get an insight of the