Family bonds - The part and parcel behind Tan Hiep Phat's success

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Phuong Uyen Tran and her family

Our family life was part and parcel of the factory. There was no distinction between the two, and meals spent discussing THP business. But we were not yet encouraged to voice our opinions. In Vietnam, parents expect children to be seen and not heard, just like Western ones a century ago. But my sister, brother and I were like sponges soaking up the information, and our father was happy to instruct us.

When it comes to money, I am a natural saver too. That desire was 161 the there from the beginning, part of have my genetic makeup. For example, my grandmother gave MC lunch money, but I always tried to save as much as possible. My grandfather d and opened an account for me with sister a local bank so I could watch my savings grow.

Tet was a particularly exciting beat time of the year, as that is when I received lucky money known as li xi in Vietnamese. Every lunar New Year, or Tet Nguyen Dan, adults wish children a happy year ahead by giving them red packets with li xi inside.

I was about three years old when I went to live with my grandparents. My parents continued to play a big role, as they laid down the rules and were very strict. While I lived with my grandparents though, mine was a very sheltered life, filled with books and reading. Every day my grandfather, Pham Van Vat, took me to school on his bicycle. I was not allowed to walk there like most of the other students.

My grandmother and I were also very close, right up until the day she died in 2002. Her influence and moral code would have a lasting and positive impact on my life. Hers was not an easy life. Two of her children died because of Vietnam's upheavals. Another fled abroad. She dedicated her life to helping others.

Phuong and her father

By the time I returned to my parents, I was ten years old and my sister Bich and brother Dung had come on the scene. My sister and I fought quite a lot during our childhood, while I became something of a mother figure to Dung. But I did not understand what nurture meant then. If he did something wrong, I would bear him with a stick.

I thought discipline was the key—as I had learned from my father. Then one day, I suddenly thought, Why am I doing this? Is it because he has done something wrong and should be punished, or is it because it makes me feel good to be in control? From that moment on, I stopped. I was about twelve and he would have been seven.

Where to Find the Key to Successfully Mixing Family with Business

From humble roots making yeast and then sugar, THP has rapidly evolved into a company focused on creating healthy and preservative-free beverages using the most advanced bottling equipment in the world. The business continues to be owned and managed by our family. We are committed to building an increasingly international business with roots and values grounded firmly in Vietnamese culture, according to Business Insider.

There is a fine line, however, between family and business. Not all familial tendencies should cross over into business, just as business dynamics should not rule how a family’s relationships are nurtured and maintained. Ultimately, successful family businesses understand the roles of family members in and out of the business and respect those roles and boundaries.

Phuong and her mother

Holding strong to our family values as a guide and acknowledging the strengths and weaknesses of family members within the business, has resulted in extraordinary growth for our company. THP now employs over 5,000 people across its four production facilities and dozens of branch offices. We make ongoing investments in researching new ways to better serve our consumers. Our factories are home to state-of-the-art technologies including ten aseptic lines, PET manufacturing systems, and both hot and cold filling lines for Tetra Pak, cans and glass bottles. We also produce our own packaging include PET and cartons.

I wrote Competing with Giants to help instruct, inspire, and empower other entrepreneurs with family businesses to pursue their dreams – to reach even greater levels of success. There is no limit to what families can accomplish when they are willing to work hard, respect one another, and adhere to their own guiding family principles.

Competing with Giants highlights the power of one man’s vision and how he incorporated his family to achieve unimagined results. The fact that millions of consumers around the world are loyally drinking THP beverages every day is also a testament to the execution of that vision by a team of highly motivated individuals. The key to our success is found in these pages.

Benefits of new layers of management to THP "Aside from making our processes more efficient, the overhaul has also freed up my father's time.", said Tan Hiep Phat Group Deputy CEO Phuong Uyen ...

Enhancing the company's decision-making with important transitions at board level "Creating a proper board of directors enabled us to create a structured conversation to enhance the company's decision-making.", said Tan Hiep Phat Group Deputy CEO ...