We're seeing what? The world is coping with an economic crisis the
largest within 70 years back here. Some experts economy leading to, the
time when the worst is still to. Do not avoid the impact, the
Vietnamese economy faced many difficulties, standing in the risk
reduction in the real economy. Can see, from 10/2008 until now, the
impact of economic crisis in the world for Viet Nam become increasingly
clear over:the activities of production - business and reduce tend to be narrow;
exports next month reduction compared with the previous month; power
consumption and the consumer price reduction; some goods and materials
important u dong, is a prominent steel, cement and fertilizer; TTCK
couch potatoes and the stock price has continued down low; real estate
market and tram lang signs close with ...The impacts are on the macro requires the immediate adjustments in
managing the production - in business enterprises in the country. Some
risk operations and finance major leaders of enterprises that need
attention first, associated with minimize this risk, including revenue
and profitability with worse; capable of standing firm's projects on
not be guaranteed; its liquidity become worse; stability reasonable in
relation to other units provided is not guaranteed; changes detrimental
to the human resources, performance and culture Enterprises.Some regional focus and management suggestions on dynamics of
leadership enterprises 1. Revenue Typically, the decline in revenue in
this period is due to two basic factors: (i) lose the relationship of
the revenue generated by customers of enterprises also have problems; (
ii) pressure from discount requirements of current customers or other
future.Some of the basic dynamics that leaders of an enterprise should
directly participate in and guide the implementation, including: -
Identify and manage closely its customers have high-risk child's
ability to breach contractual relations, eg instance, consider the
terms of the contract and binding legal obligations; - active in
strengthening relationships to share and capture the financial
situation of our customers is important;
extreme management and monitoring of the price reduction pressure from
customers or all important network of customers; - quickly adjusted (if
necessary) forecast of revenue to balance the production plan or
purchasing goods, materials, avoid loss of balance resulting in waste
of resources; - Ra decided to temporarily reduce production more if
market conditions are not yet in operation can allow production to
continue as planned and inventory level of the whole market is
predicted high (some enterprises have been notified to do so in May 10
and May 11).2. Operational costs during the period of economic development and
stability when the conditions of market advantages, the enterprises
often do not spend enough effort to manage costs effectively. Many
leading enterprises in the country, said that it is the "conversion"
necessary and they spend a lot more effort to generate revenue.
Considering one aspect and that in each case the specific enterprises,
this is logical.However, when enterprises are faced with the risk reduction in revenue
per month, calculated on the logic still be guaranteed? The truth is,
(i) always exists a number of monthly fee (the relative) basis arising,
for example, the cost of renting office, the salary paid to management
staff - administrative ... and (ii ) The costs incurred outside the
budget approved - authorized implemented by the reflection of the
individual member leaders (depending on the specific DN).
Obviously, working closely control and reduce operational costs must be
seen as a priority of leaders of enterprises. Can consider the dynamics
orientation follows: - That tight policy of spending depending think -
not based on the budget was approved; - Bang reasonable solution, to
minimize possible of the fees; - Develop and implement immediately a
program of action to reduce costs, including changes in policy
management costs; - Review and tightened the available policy options
to use Unit provides. 3.The investment projects quite There are many
enterprises, or
enterprises, activity groups have professions, tend to have more
investment projects. Many of these enterprises are facing directly with
the difficulties of deploying resources projects, mainly financial.
Mobilize capital from investment funds of private domestic or foreign
in this stage is very difficult. Leaders of enterprises should quickly
and actively implement the action: - Review the list of projects, in
order to find opportunities to pause or promote the implementation;-
Enterprises accelerate the implementation of the project really
important and can achieve the value of existing purebred (NPV) in
short-term and the time to seize short-term capital, combined with the
review of the calculation assumes the departments to ensure the project
can stand firm and effective; - Strengthening effective project
management, management of progress, human resource, Categories
incurred, the costs incurred ...4. Working capital Depending on the
type of business, its position, the
terms of payment under commercial contracts and the ability to manage
activities of leaders of enterprises, the level of reasonable
requirements of working capital will vary in the DN. The effective
management of working capital at this stage is really a big challenge
for the leaders of enterprises. Working capital should be viewed as
"the spirit of chopsticks", DN does not also have to use.And all this
after having it, it can only be put into the hands of
"sorcerer" with the best power from the client is using a wise one.
Will be an unforgettable mistake if leaders DN forget these items in
the plan to work their weekly: - Monitoring closely monthly (or even
weekly / day) all of the balance of capital mobility in the official
headquarter, branches and subsidiary companies belonging to the group;
- Implementing the right adjustments wisdom states working capital may
be worse;- Trying hard to the maximum enforcement of compliance with
the terms
of trade have been committed with partners. 5. Budget and manage cash
flow "Cash is king". The existence of an enterprise will depend
directly on the ability to maintain positive cash flow and ability to
pay support to the limit, this is especially important during periods
of financial crisis as at present. Some dynamics management towards
this area include:- Traffic Monitoring closely the forecasting of cash
flow from the main
office, branches and subsidiary companies belonging to the group and
commitment with banks in the credit contract that DN is a party to
participate; - Management closely sources and activities generated
positive cash flow; - Can the ability to liquidity and debt structure
to reduce the ability of financial dependence, especially in the short
term;- Implementing the right dynamics needed to reduce the risk of
changes
in exchange rates as well as market rates; - closely tracking results
positive solutions from groups of the Government to match or adjust the
management plan budget most effective. 6. Stability in relations with
other units supplied relations with other units to provide a structure
important part in the value chain (value chain) of an enterprise. The
possibility of the major supplier (or in overseas) of an enterprise
have been affected in bad economic decline is quite high.Leaders of
enterprises in this stage should be: - Monitoring strict
financial situation of the units provided that enterprises are
relations; - Identify units provide alternative can meet the more
reasonable; - Make a backup plan to determine the project to ensure
continuous operation. 7. Human resources, achievements and cultural
enterprises Resources personnel are the most important enterprises.
However, this is also a resource that enterprises difficult to manage
and have little right to control. In the context of economic decline,
the benefit of the majority of the people can be affected and they tend
to quickly find a few other enterprises more difficult ...Moreover, some of the narrow production and cut costs as is done
certainly reduce the amount of personnel are working and can cause
problems arising other related themes in violation of the Labor, or to
the Trade Union. Leaders of enterprises should directly participate in
and guide the implementation: - Review and analyze comprehensive work
force when the current balance with other resources from the production
plan - the business has been adjusted; - See review and determine the
priority objectives of the policy employed, working overtime hours and
key employees need to keep;- Structure and about cross cultural enterprises to support the focus
on management of funds; - Ordenar cross Matrix assessment of the
achievements with the praise. To ensure that the risk of major
activities and financial management is an effective, enterprises should
develop a program to ensure (assurance program) - the action against
the degradation of. The program to be mentioned: - Results identify and
analyze the current situation of enterprises according to the above
areas; - Matrix characteristics of the risks and the priorities and
risks need attention; - Define the focus and dynamics, management and specific details for
each area affected by the risks; - Request the participation of all
functions related enterprises, including internal auditor - Management
closely the process of implementing the program, and the implementation
schedule specifically, to ensure that the information internally and
implement synchronization; - comments Consult the experts on risk
management and Activities during construction or implementation of the
program. In additional, enterprises can start to consider the risks of
strategic and compliance.This allows enterprises to set up the plan more efficient management of
risk in the long term. Comments on the positive aspects more, while the
business risk in the context of economic decline in the country was a
threat to the existence of an enterprise, then they may create
opportunities for some enterprises others - can assume is (i) a
competitor with larger-scale contractor are looking to grab market, or
(ii) the DN investment strategies are now preparing to penetrate the
market by merger or purchase the other enterprises with a lower cost
with the opinion, this is an opportunity can only get once. So then,
let's act now to a different DN! Hoang Manh Thang