Portrait of a CEO in the era of integration

The Ho Chi Minh City Young Business Association and International Entrepreneurial Knowledge Joint Stock Company organized the “CEOs in the Integration Era” seminar. It suggested several representative CEO models that could help businesses overcome difficulties and develop more flexibly.

Discussing the role of the CEO (Chief Executive Officer), Đặng Đức Thành, Chairman of International Entrepreneur Knowledge Joint Stock Company, affirmed that the CEO plays a crucial role in determining a business's success or failure.

A CEO's caliber and success lie not only in effective business management but in strategic production and business planning for sustainable growth. They also involve strongly meeting shareholders' expectations, contributing to social welfare and having the resilience to overcome today's inflation and financial crisis…

In recent years, certain “model” CEOs have emerged with several common characteristics:

1. CEOs drawing on Eastern principles: Alongside Western management theories and science, Asian CEOs increasingly study Eastern theories to apply in business management, such as Confucius's rectification of names, Sun Tzu's Art of War, feng shui, and the theories of yin-yang and the five elements…

In Vietnam, this trend seems to be becoming increasingly common in business, especially real estate. Dr. Lê Chí Hiếu, Chairman and General Director of Thủ Đức Housing Development Joint Stock Company, shared many experiences of applying yin, yang and the five elements to manage corporate resources effectively, such as flexible capital-flow management and operation, organizing sales, investing in new products, expanding market share and business locations, building corporate culture and developing the company’s brand…

From his own experience, he believes applying these theories helps business leaders respond more flexibly and turn situations around.

2. A CEO who adapts to crises

Expert Lý Trường Chiến shared a startling quote from marketing guru Philip Kotler: “Over the next 5 years, if you continue running your business or managing your company as you do now, you will soon eliminate yourself from the game.” This prompted many comments on management skills and principles for responding quickly and effectively to market changes. CEOs have recently proposed several common ideas:

– Temporarily adopt a ‘hibernating bear’ strategy. ‘Hibernating’ does not mean sleeping indefinitely. It means focusing on core activities, reducing less important investments and expenditure, and concentrating resources on key objectives that deliver immediate results.

– Scale down operations or flexibly switch business sectors, focusing investment on a sector suited to current market conditions.

– Make the most of training and self-training. Alongside reorganizing and restructuring the business, use difficult periods to care for human resources, from leaders and middle managers to employees, both materially and emotionally. Encourage creative ideas, improvements to production processes, and new products; build pride in the company's culture and brand among every employee…

3. Like “qigong masters” drawing on the universe's vital energy, businesses can draw on external strength through joint ventures, acquisitions and mergers, raising capital from credit institutions and investment funds, and developing and adjusting sales policies.

4. Apply the 3Cs effectively: Care (attention and support); Communication (communication); Commitment (commitment), toward the pillars of the business: customers, workers or employees, shareholders and investors, and the wider community…