Tan Hiep Phat's CEO Tips on How to Run the Business Effectively
Tran Phuong Uyen's worldview has merged globalization with localization, drawing on both her international education and her experience working for the multinational firm founded by her parents. As East joins West in the world of business and Asian multinationals continue to rise, her insights and experience are very much valuable for anyone who is looking into managing a business.
|Tran Phuong Uyen, CEO of Tan Hiep Phat at Forbes event. Photo: Zing News|
When you are a business owner you would try to find a way to run the business in the most effective way possible. But sometimes, your employees are unable to incorporate with one another to come up with desired results. CEO Phuong Uyen pointed out that "because we (Vietnamese) are such a self-reliant people. History has made it so. Put too much trust and reliance in other people, and you will end up being subjugated."
She analyzes the self-reliance characteristic as a "very entrepreneurial" trait. If you pay close attention to the houses and streets in Vietnam, most people have their day job and their small business on the side. Walking down the street, you will see that every house is some small business.
This idea could potentially harm productivity leading to bigger employers' most asked question: "How can employees give a company 100 percent of their time and energy if they are busy working out how to grow their own small business, as well?"
The female CEO shared that this is not what she would be "overly concerned about" at Tan Hiep Phat. One thing that each small business owner quickly learns is how difficult it is to make money and retain it. People who have only ever worked for a salary do not comprehend how much effort it takes to earn enough cash to pay the bills.
The second reason why collaboration is such a foreign notion to Vietnamese people has to do with issues of face and respect. Asians are known for their fear of losing face and their devotion to order. Everyone needs to know what the status of others is. The family culture is very much included in this concept. She shared that at Tan Hiep Phat, "we tend to call each other "Older sister" or "younger sister" for female colleagues and "elder brother" or "younger brother" for male colleagues."
|Phuong Uyen Tran. Photo: Forbes|
After taking up business from Tan Hiep Phat, Tran Phuong Uyen has her own vision map out with these principals. Sharing with Vietnam Times, here are the checklist that Tran Phuong Uyen think CEOs should consider when running the system:
Accept the importance of efficient communication
Communication is crucial in any situation, but when your personal and professional lives collide, it becomes much more critical. Transparency and improved communication enable everyone involved in the business to make better decisions and accept responsibility for their part in the process. Everyone may be united in purpose, goals, and tasks if they have a clear knowledge of expectations.
Pay attention to one another
Listening is an important element of communication. Company members must learn to completely listen to one another and to be generous with one another. As a result, we give others the opportunity to express themselves without interfering or mentally planning our own rebuttal. Doing this helps us let go of our preconceived notions about who we are and what we are capable of, allowing each individual to express themselves fully.
Set and stick to boundaries
If family members are involved in the business, it is critical to establish boundaries both inside and outside of the workplace. The possibilities for shattered boundaries and inter-marital or inter-generational conflict are nearly endless. Despite the fact that living quarters have changed throughout the years, it is still vital to recognize work environment boundaries.
Tan Hiep Phat, Asia's emerging star, is increasingly asserting its economic muscles. Through the experiences of CEO Phuong Uyen Tran and Tan Hiep Phat, the beverages company founded by her family, we learn that both the East and the West cultures may benefit from each other's experiences. The success of family-owned enterprises is undeniable. Asian women are surely building a brand for themselves.
Tran Uyen Phuong is a successful entrepreneur who motivates people all around Asia. She's also a published author. Her writing includes the book Competing With Giants: How One Family-Owned Company Took on the Multinationals and Won. Itdepicts the story of its journey from war ruin to a dynamic nation. The book, told through the eyes of a daughter who witnessed her parents overcome several challenges on their way to success, serves as a blueprint for others to follow in their footsteps. Its message is one of empowerment.
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