VIETNAM NATIONAL UNIVERSITY, HANOI
SCHOOL OF BUSINESS

VU ANH DUONG

A STUDY ON
VISION OF VIETNAMESE CORPORATIONS
& LESSON FROM PRESIDENT HO CHI MINH’S VISION

Major

: Business Administration

Code

: 60 34 05

Master of business administration thesis

Supervisor: Dr .TA NGOC CAU

Hanoi – 2012


ACKNOWLEDGEMENT
I would like to express my gratitude to all those who gave me the possibility to
complete this thesis. I want to thank the Vietnam Report for giving me permission
to do the necessary research work and to use their valuable data. I have furthermore
to thank all the managers and staff at FPT, Vietsteel subsidiary, VIB, Habubank,
and CMC Group who gave and confirmed permissions and encouraged me to go
ahead with my thesis.

thesis also concentrates on studying about Vision of Organization in the
business enterprise of Vietnam in general and vision of Leaders in
Vietnamese enterprises in particular. In current globalization background and
Vietnam has become a member of WTO, the stormy development of
technology, natural resources are becoming scarcer and scarcer, and above all
the issue of Vietnamese enterprises are facing the severe competition from
developed economies. To solve the above issues, the role of the enterprise
leader is vital importance. The declaration of the highest leader in an
enterprise always helps the business to see the focal point, the necessary

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concentration to have in short-term and long-term action. The leader should
always remind, communicate, train their subordinates, and assess the vision of
the enterprise.
The author has surveyed top 100 Vietnamese biggest private enterprises,
according to the table listing 500 Vietnamese leading private enterprises,
which evaluated and ranked by VNR 500 in 2010, to offer the current
situation of Vision and how to transform Vision of Vietnamese enterprises,
which expected to become leaders of Vietnamese economy in the future
approaching international arena. The results as follow:
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Not declaring officially the Vision of its enterprise, this case can be

resulted from failing to be aware of the importance of Vision or recognized
but not be creative enough and develop the vision of the organization.
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TĨM TẮT
NGHIÊN CỨU VỀ TẦM NHÌN CỦA CÁC DOANH NGHIỆP VIỆT NAM
& BÀI HỌC VỀ TẦM NHÌN CỦA CHỦ TỊCH HỒ CHÍ MINH
Vũ Ánh Dương
Thạc sĩ QTKD, 2007-2009
Khoa Quản trị kinh doanh
Đại học Quốc Gia Hà Nội

Giảng viên hướng dẫn: Tiến sỹ Tạ Ngọc Cầu
Tháng 9 năm 2012, 79 trang

Tầm nhìn của người lãnh đạo là một trong những chức năng quan trọng nhất
của Lãnh đạo. Khả năng nhìn nhận tiềm năng tương lai của một tổ chức hay
một công ty luôn là một yếu tố cực kỳ quan trọng cho sự thành cơng của tổ
chức đó.
Luận văn sẽ trình bày một khuôn mẫu, khái niệm để định nghĩa tầm nhìn một
cách rõ ràng, tránh sự mập mờ lâu nay đối với khái niệm này, đồng thời cung
cấp cho độc giả những hướng dẫn cụ thể cho việc hình thành một tầm nhìn
chặt chẽ, mạch lạc, rõ ràng trong một tổ chức. Luận văn cũng tập trung nghiên
cứu về Tầm nhìn của các doanh nghiệp sản xuất kinh doanh của Việt Nam nói
chung và tầm nhìn của Lãnh đạo các doanh nghiệp Việt Nam nói riêng. Trong
bối cảnh tồn cầu hóa hiện nay, Việt Nam đã trở thành thành viên của WTO,
tốc độ phát triển vũ bão của công nghệ, nguồn lực tự nhiên ngày càng khan
hiếm, và hơn trên hết vấn đề các doanh nghiệp Việt Nam đang phải đối mặt
đó là sức ép cạnh tranh khốc liệt từ các nền kinh tế phát triển. Để giải quyết

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được những vấn đề nói trên, vai trị của người lãnh đạo là hết sức quan trọng.

-

Cách thức truyền tải tầm nhìn không tốt.

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Đề tài này cũng phân tích các bài học thực tiễn về Tầm nhìn từ Chủ tịch Hồ
Chí Minh trong các giai đoạn lịch sử khác nhau, cụ thể là tuyên bố về tầm
nhìn và Truyền tải tầm nhìn.
Từ các kết quả nghiên cứu, một số giải pháp đề xuất được đưa ra nhằm giúp
các Lãnh đạo và tổ chức nhận thấy được tầm quan trong của việc xây dựng
Tầm nhìn, cũng như phát triển Tầm nhìn trong doanh nghiệp Việt Nam trong
thời kỳ mới. Từ đó các doanh nhân có thể xây dựng tổ chức của mình phát
triển trường tồn.

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TABLE OF CONTENT
ACKNOWLEDGEMENT ----------------------------------------------------------- i
ABSTRACT --------------------------------------------------------------------------- ii
TÓM TẮT ----------------------------------------------------------------------------- v
LIST OF TABLES ------------------------------------------------------------------ xi
LIST OF ABBREVIATIONS ---------------------------------------------------- xii
INTRODUCTION ------------------------------------------------------------------- 1
Statement of the study ------------------------------------------------------------ 1
1. Objectives and Aims ---------------------------------------------------------- 2
2. Research questions ------------------------------------------------------------ 2
3. Scope of Work ----------------------------------------------------------------- 3

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1.4 Distinguish an Vision ----------------------------------------------------1.4.1 Vision and mission: --------------------------------------------------1.4.2 Vision and core value:--------------------------------------------------1.4.3 Vision and slogan: ------------------------------------------------------1.4.4 Vision and strategic: ----------------------------------------------------1.4.5 Vision and project objective: -------------------------------------------

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16
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19

1.5

Procedures for Developing a Vision ----------------------------------- 19

1.6

Transforming a vision --------------------------------------------------- 20

1.7 Lesson of the Ho Chi Minh’s Vision ---------------------------------1.7.1 Ho Chi Minh’s Vision --------------------------------------------------a. The first case ---------------------------------------------------------------b. The second case -----------------------------------------------------------1.7.2 Structure of Ho Chi Minh’s Vision --------------------------------a. Core ideology --------------------------------------------------------------b. Great aspiration ------------------------------------------------------------1.7.3 Characteristics of Ho Chi Minh’s Vision ----------------------------1.7.4 Communicating the Vision ---------------------------------------------

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21
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2.3.2 No communicate the Vision -------------------------------------------- 54
2.3.3 No invest to brainpower and efforts to develop and communicate a
Vision ----------------------------------------------------------------------------- 56
2.4

Discussions ----------------------------------------------------------------- 60

Chapter 3: Conclusions and recommendations ------------------------------ 63
3.1

Conclusions ---------------------------------------------------------------- 63

3.2 Recommendations -------------------------------------------------------3.2.1 Develop a successful vision -----------------------------------------3.2.2 Communicate widely the vision ------------------------------------3.2.3 Commitment to follow the vision -----------------------------------

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64
65
70

READING REFERENCES ------------------------------------------------------ 71
APPENDIX 1 ------------------------------------------------------------------------ 73
APPENDIX 2 ------------------------------------------------------------------------ 79

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LIST OF TABLES
Table 1.1

Case of Core ideology


46

Table 2.6

Case of FPT and Vietsteel

47

Table 2.7

Case of VIB Bank

48

Table 2.8

Case of CMC Corporation

49

Table 2.9

Case of DOJI gold& GEMS group

50

Table 2.10 Case of SHB Bank and Phu Thai Group JSC

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BHAG

Big Hairy Audacious Goal

ASEAN

Association of Southeast Asian Nations

CSR

Corporate Social Responsibility

VIB

Vietnam International Bank

GS E&C

GS Engineering & Construction Corporation

FPT

FPT Joint Stock Group

VINAMILK

Vietnam Milk Joint Stock Company

DOJI

Hanoi Building Joint Stock Bank

SHB BANK

Saigon-Hanoi Commercial Joint Stock Bank

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INTRODUCTION
Statement of the study
The Vision of enterprises has become more and more important with the
enterprise especially in the deep and wide integrating process of Vietnam
economy now. Whether, the enterprise will develop in the right direction,
right itinerary as planned and whether the enterprises have a huge enough
aspiration, which will direct all members, endeavored to develop company.
Almost big company in the world has set up a goal, ambition of international
stature and then they initially are the big company of country to become the
leading international enterprises. Their visions will have to be big enough and
transformed to all member, employees, and owners of company, as result they
will contribute to the strength of their company.

In Vietnam, Vision is the new definition with enterprises. There are many
companies as well as President, CEO, businessperson or manager did not
understand clearly the importance of Vision. Some of them neither confuse
the nature of Vision nor do not bring into play the strength of Vision that are
the tool to orient the company, encourage, and raise the human recourse
potential of company to lead into the new altitude. Within 100 Vietnamese
largest private enterprises, which have been published by VNR500 year 2010,
68% of them have not stated the Vision, and the last 32% of them have stated

 In Vietnam, how do Vietnamese Leaders develop and implement their
vision?

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 What are suggestions for Vietnamese Leaders?
3. Scope of Work
 The thesis focuses on studying the biggest Vietnamese enterprises. The
conclusions; evaluations; recommendations; or proposal aim to apply
on the biggest corporations of Vietnam and the world.
 This study will focus on analyzing Vision and vision transformation of
Ho Chi Minh President.
 To generalize the fact of Vietnamese companies, study considers the
Vietnamese biggest private companies.
4. Data Sources and Processing
 Book: Leadership in organizations; fifth edition; The author: Gary Yukl
 Built to last ; The author: Jim Collins
 Vietnam report 500 (VNR500)
 Documents and profile of 100 Vietnamese largest private enterprises
 “The CEO golden rules” author Mary key + Dennis Stearns
 Author: Susan Ward issued on website: About.com (a part of NY times
company)
5. Method
This study is an empirical research, which applied two methods:
 Review of related literature/documentation.
 Interview relevant people.

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enterprises might be interested in the recommendations and the conclusions of
the study, from which they can get useful information on how to react in
Vision-related issues and how to benefit from them.
10. Follow-up
Further study will be taken on improvement of Vision understanding and
implementation among Vietnamese enterprises based on the experience and
achievements of large corporations. Other way of study will be analyzing the
impact of understanding level to Vision implementation in Vietnamese
enterprises in some provinces particularly and all over Vietnam generally.
11. Short Introduction
The research is divided into three parts, which are including:
Chapter 1: Theoretical Foundation: will give a relevant theoretical
background to the study and case study of Ho Chi Minh
Chapter 2: Research on Vietnamese corporations: In this chapter,
Vision understanding and implementation in Vietnam will be reviewed.
One hundred biggest private corporations representing for Vietnamese
enterprises will be analyzed on their awareness, real activities. In
connection with the Vision of Ho Chi Minh in term of creation and
transformation of visions, it will be the best lesson for Vietnamese
company.
Chapter 3: Conclusions and recommendations: Conclusions and
recommendations will be noticed for better implementation of Vision in
Vietnamese enterprises.

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CHAPTER 1: THEORETICAL FOUNDATION
1.1


become, create (that will promote the advance and change to achieve the
future perspective.”
Quoted “Built to Last” of author - Jim Collins & Jerry I.Porras
“The Vision can provide a sense of continuity for followers by liking past
events and present strategies to a vivid image of a better future for the
organization. The vision provides hope for a better future and the faith
that it will be attained some day. During the hectic and confusing process
of implementing major change, a clear vision helps to guide and
coordinate the decisions and actions of thousands of people working in
widely dispersed location.”
Quoted “Leadership in organization” of author Gary Yulk
Sometime, a vision statement is called a picture of your company in the
future but it is so much more than that. Your vision statement is your
inspiration, the framework for all your strategic planning. A vision
statement may apply to an entire company or to a single division of that
company. Whether for all or part of an organization, the vision statement
answers the question, “Where do we want to go?”
Author: Susan Ward issued on website: About.com (a part of NY times company)
According to the author, Vision is a future vision that the enterprise should
look forward to and it becomes dynamism to encourage everybody to share
his or her efforts to achieve it. Vision is offered basing on the current core
value or the past and great aspiration of the enterprise.
Based on the above-mentioned definitions, Author found that Vision could be
understood as follows:

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1. It is the combination between cores values of organization with the
ambition that the organizations want to archive in the future.

1.2.1 Core ideology:

Constant particulars of an organization are constant factors and surpass
product/ market life cycle, technological advances, administration styles and
leaders. Frankly, the biggest and most important contribution of “architects”
of the world leading corporations is core ideology of such corporations. The
talented leaders will depart this world, products will be outdated, the market
will change, new technologies will appear, and administration styles will
change. Nevertheless, core ideology of a leading corporation is always
invariable and a guiding star for development. The core ideology includes
core values and core objectives.
- Core values:
Core values are basic and constant of an organization. The core values are a
small group of leading, constant, and unexplained principles. They have
internal values and importance for members of the organization.
The key is that a leading company must decide core values without depending
on external environment, competitive factors or current trends or styles of
administration. No core value is right for all companies.
- Core goals:
Core goals are basic reason for existence of an organization. Between core
goals and core values, core goals are considered more important in leading
and communicating inspiration for an organization.
An effective objective must reflect the importance attached to the company’s
works. It must exploit ideal motive power of the employees. It must not
simply reflect products or target customers of such organization.

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To see more clearly, what the core value is. The author selected and offered

Example about Core ideology:
Table 1.1: Case of core ideology
Company Name

Core ideology
Humans are the core of the company strength.

Ford Motor

The product is the final results of efforts
Profit is a necessary means, being measure of success
Honesty, veracious in business
Expect to achieve happiness achieved due to
development, renovation and applying technology due to
the benefit of community

Sony

Improving the cultural life of Japan
Always be leaders
Respect and encourage the ability and creativity of the
staff
Taking enough care to all staff

IBM

Spending time bringing about trust to customers
Going to end in all pledge, always in leading position
Perfect products


laborers.”
1.2.3 Vision:

Nature of the Vision as analyzed above is a combination between the present
and the future, any company’s Vision must be shown Core ideology and
BHAG. Some leaders seem to ignore the past or the present and only focus on
the future. If a leader respects things obtained by his organization or himself
and expresses respect for the persons who lay foundation for his position.

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