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Keeping up the general trends of the Industrial Revolution 4.0; a lot of enterprises in the Information and Communication Industry have invested in data centers providing rental services and setting place for server hosting; providing, installing servers and Internet connections; providing storage solutions... for enterprises.
In the picture: An Don Information Data Center (IDC) of VNPT Data Company. The center has received the Certificate of Information Security Management System according to ISO/IEC 27001:2013 standard.
-Photo: T.N
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Having a “gap” with bigdata, digital industry, automation and IOT makes enterprises impossible to innovate and enhance corporate administration ability.
According to Prof.PhD. Nguyen Truong Son – Head of the Faculty of Business Administration (The University of Danang): Limited corporate administration ability of Vietnamese enterprises in the context of the Industrial Revolution 4.0 which is taking place comprehensively and extensively at a high speed in every aspect of life has been making the issue of innovating and enhancing corporate administration ability become more pressing.
With the main contains: the development of digital industry, automation, internet connection (IoT), big data, artificial intelligence... the Industrial Revolution 4.0 opens up new and big chances for enterprises: reducing transaction and management costs; applying modern technology to support the development of new products and services in management, defining strategic, increasing labour productivity, increasing access ability to information, data, connection, cooperation; increasing new business opportunities (based on digital technology such as e-commerce, digital finance...); increasing the ability to participate in global and regional value chains and electronic ecosystems...
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"The quality of Vietnamese enterprises is not high, the competitiveness is weak, the integration capability is quite low." – Prof.PhD. Nguyen Truong Son.-Photo: Thanh Hoang.
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The Industrial Revolution 4.0 also contributes to the provision of cross-border products and services at an affordable cost.
However, the Industrial Revolution 4.0 has also created a lot of challenges for enterprises such as requiring enterprises to change the production – business model, organization model, management model, business culture, form of enterprise, improving the quality of human resources, especially human resources leadership and administrators at all levels...
Prof.PhD. Nguyen Truong Son also emphasizes: Despite the strong growth in quantity, the quality of enterprises is not high, the competitiveness is weak, the integration capability is quite low.
There is a host of reasons for this problem, in which weak corporate administration ability is the fundamental cause.
The Industrial Revolution 4.0 will fundamentally change people lives and habits, the structure of the industry in the world and the lives of humanity. Requiring corporate administration change to accommodate business is irreversible.
The mission of enhancing corporate administration ability has not been paid much attention by enterprises. This means enterprises will encounter many difficulties in the operation and development process, especially in the context of strong integration and increasingly intense competition as nowadays. Compared to correlated ASEAN countries that are well-developed, Vietnam in general, Central region in particular, is still considered “the weakest corporate administration system”.
Most Vietnamese enterprises still administer in a convenient manner, the lack of company administration factors; the use of modern business administration tools in the areas of strategic administration, marketing administration, financial administration, human resource administration...is still quite unfamiliar and vague.
The limited administration ability is the most fundamental cause which makes Vietnamese enterprises, especially medium and small ones hard to integrate and have a weak competitiveness. In the past 15 years, the average size of Vietnamese enterprises has a down trend, enterprises grow very slowly, crowded in quantity but limited in quantity is the common situation. Enhancing administration ability is seen as an effective solution to modernize our enterprises nowadays.
Vietnamese enterprises should quickly invest in research, product development following 4.0 direction.
The National Business Administration Conference (COMB) 2017 was also the first conference taking place in Danang and discussing in 3 main topics: Challenges of globalization and industrial revolution to corporate administration; Human resource administration in the context of the Industrial Revolution 4.0 ; Marketing in the Industrial Revolution 4.0.
The organization committee of COMB 2017 Conference received 148 scientific articles, of which 103 articles were chosen by the Editorial Board to be posted in the summary record of the scientific conference.
Another 13 scientific compositions were selected to present at 3 subcommittees focusing on: the impact of globalization, of the 4th Industrial Revolution on administration, production and business of Vietnamese enterprises; innovation, creativity, start-up and entrepreneurial spirit; enhancing leadership ability, administration ability for functional fields: strategic administration, production, finance, human resources, marketing... for Vietnamese enterprises in the process of integration and in the Industrial Revolution 4.0; business culture, enterprises culture, business morality and social responsibility in the global economic.
At 3 subcommittees, the air of counter-argument, debate and contribution of ideas provided a lot of solutions related to the practical problems which have been arising when proposing to enhance corporate administration ability to be able to adapt to the context and impact of the Industrial Revolution 4.0.
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| Many start-up projects in Danang started their stories based on optimal exploitation of information and communication technology applications (Photo taken at the common workspace – Danang enterprise nursery). |
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In recent years, with the efforts of a tectonic government, Vietnamese business environment and economic management mechanism have been constantly improving in the direction of enhancing international economic integration ability, releasing all barriers to get a better mobilization of the country’s resources for development, appreciating the private economics and considering as a strong motivation of the national economic growth.
Thanks to these reform efforts, in 2016 for the first time, the number of registered enterprises reached over 100,000 enterprises. Another encourage point was that the number of enterprises which have stopped operating or dissolved in 2016 decreased by 9.5% compared to 2015, putting an end to a period that the number of enterprises which stopped operating has constantly increased over the past 5 years.
“In the new context, the biggest advantage for Vietnamese enterprises is that the whole world is entering the 4.0 Revolution at the same starting line. If Vietnamese enterprises quickly invest in researching and developing products in the direction of 4.0, it is likely that, after the revolution, the position of Vietnam, Vietnamese enterprises in the international market may be completely different. This also requires enterprises to rapidly change comprehensively their administration method” – Prof.PhD. Nguyen Truong Son emphasized.
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The COMB 2017 Conference with the topic “Enhancing corporate administration ability” with the aim of enhancing academic exchange, sharing experiences among researchers in management and business across the country, before the changes of business environment in the context of globalization and the Industrial Revolution 4.0. -Photo: T.N.
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