Principle of Management SWOT ANALYSIS môn Principles of Management | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

Principle of Management SWOT ANALYSIS 1. Living motto
"You will never win if you never begin "Helen Rowland
This quote not only touched my heart, but it also gave me faith, the magical strength to realize who I
truly am, and the confidence to pursue achievement. As a result, willpower is vitally crucial for every
human being. It aids me in overcoming adversity in my life, therefore inspiring others to strive for
success. Dare to think dare to face challenges are characteristics that I think are essential for my
future dreams. In fact, I never thought I could become a student at ISB. However, my parents have
encouraged and pushed me to see where my ability is. And thanks to my hard work, daring to put
myself in new challenges has made me achieve this.
The success of Jack Ma is a real-life example that demonstrates its significance. Jack Ma, the founder
of Alibaba Group, is now Asia's richest billionaire, with a net worth of about $50 billion USD ("Jack
Ma," 2022). When he convinced 24 friends of his company concept, up to 23 people told him it was
impossible but just one of them advised that he can do it.
Jack Ma persisted in accomplishing launching a firm with only $20,000 in money. However, because
of Jack Ma's brilliance, that figure has grown to 800,000 USD three years later. 2. Vision Statement
Richard Branson was the potent motivator that led me most to conclude that my future objective is
to become a successful businessman. Entrepreneurship enables me to reinvent myself and pursue
my passion, even if it means taking risks. "Innovate - develop something different," as Richard
Branson famously said, has truly fueled my vision. My goal is to become an entrepreneur and run my
own chain of restaurants. In the last two years, the Covid-19 pandemic has severely affected
Vietnamese businesses, especially those in the F&B sector ("VIETNAM’S F&B INDUSTRY: MAJOR
TRENDS IN 2022," 2022). Therefore, I want to take advantage of my creativity in this field to develop
my personal brand chain at a time when it is in the most crisis situation. I feel that only by launching
a business and demonstrating my abilities as an entrepreneur will I be able to contribute to the
community. More than that, I want my idea to provide workers with the chance to make a living,
provide for their families, and pursue their own ambitions in an inventive atmosphere. 3. Mission Statement
To achieve my vision statement, I need to broaden my knowledge by reading business literature and
earning a bachelor's degree. Not only do I want to invest in academic education, but I also want to
develop my business knowledge and English skill, as English is becoming a worldwide language for
the corporate world. One of my future ambitions is to actively participate in live seminars from great
traders so that I may learn a lot from their experiences, including wins and mistakes. Before
beginning a firm, I want to invest in learning how to do enterprise in terms of fundamental business
skills such as investment accounting, understanding of legislation, financial management skills, human resources, and so on. 4. Strength
After going through high school and becoming a freshman at ISB, I consider myself a creative person
and always want to be creative. I used to be a manager for the media department of a club in high
school, that's why I have accumulated a lot of valuable experience in content creation. While those
changes are remarkable, I still manage to maintain a good work-life balance. Psychologist James C.
Kaufman (2016) has shown that creativity must represent something different, new and innovative.
That further fueled my desire to become a business owner.
And to motivate my vision statement, I always make myself actively learn and discover more
knowledge, so that my creative acumen is most effective. Capability can be a huge boon to my career
in a rapidly changing world that requires people to quickly adjust. I believe this strength of mine
provides businesses with the ability to generate new ideas, think outside the box and set themselves apart from the competition.
Second, I know I have the patience to face difficulties and I believe that is my strength. I know that
this quality helps me to pursue my goals, and not be discouraged even when faced with many
difficulties. In the book "The Power of Patience," author MJ Ryan (2019) encouraged that each
individual should practice living slowly and making himself calm in the face of challenges to enhance
this virtue because Patience is a long process, not a built-in virtue.
Patience gives me control, self-control, and mental clarity so that I can see better solutions and never
give up on difficulties. Running a business is never easy and I know that as an entrepreneur, I will face
many challenges. Therefore, I believe that this strength also helps me achieve the set goals and the will to pursue my dreams.
Finally, what gives me the most confidence in my ability is to completely solve difficulties. With three
years of experience as a club manager in high school, I am confident in my abilities since I understand
how tough it is to manage an organization. Furthermore, the most vital aspect of being a smart
businessman is the clever administration of a huge staff. 5. Weakness
In my daily life, I consider myself a sloppy and untidy person and my mess definitely interfere with
my regular tasks. I'm frequently late for school since I'm usually looking for stuff in a chaotic manner.
Furthermore, clutter makes it difficult for me to get things done, find what I need, or live a
disciplined and productive life. These issues have resulted in a time imbalance in my life, and I am
always concerned about my time management. Therefore, what I am progressively conquering is the
need to change my poor behaviours. By focusing on good habits, we are better equipped to achieve
more than we imagined (Duhigg, 2012, p. xx). Instead, I'll try to organise my plan focusing on time management tools.
Limited relationships are not always a personal flaw, but I believe they will bring certain constraints. I
consider myself to be a quiet person who is shy to communicate, which has made it tough for me to
build connections. I sometimes fail to talk to classmates because I believe it would be difficult to
speak with them, and this also contributes to my reluctance to interact with the instructor. This
personality will significantly impede my objectives of becoming an entrepreneur, resulting in a lack of
critical information and relationships.
I am aware that a variety of things impact how we operate in relationships, ranging from our prior
baggage to our own communication style. However, I am gradually transforming my personality by
speaking more freely in all of my relationships and letting go of guilt, anxiety, and concern about
what others will think (Gazipura, 2017, p. xx).
Another disadvantage I encounter is a lack of office computer abilities. According to Microsoft's
statistics (Curry, 2021), they have 145 million monthly active business users, therefore no matter
where I work, I have to know Microsoft. However, because I haven't had much practice with these
tools, I still lack many soft skills.
However, these soft skills are increasingly becoming more common and important. Due to the
influence of pandemics, it was rather difficult for me to engage in online classes; perform and submit
assignments on online tools. From the beginning, computer fluency is one of the most significant soft
skills for businessmen. Having the required abilities that will assist me in achieving certain goals, as
well as learning computer skills, will increase my total knowledge of the job. 6. Opportunity
Since I had the opportunity to become a 1st-year ISB student, I have improved my language skills. My
major is Marketing - taught entirely in English. My graduate degree will be officially recognized by
FIBAA Switzerland and CPA Australia. After 12 years in the process of studying, I have been familiar
with the ways of communicating in English and now when I have to constantly adapt to the
international environment, English has become my main language. I have been taught major
specialised knowledge with Economics subjects - which will help me a lot in my development as an entrepreneur.
In today's globalised world, people increasingly need to communicate in many different languages,
and the whole world is tending to use English as a common language for international relations
(Grenier, n.d.). According to Jessica Vollman, CEO of Fluent City, at the beginning of the Covid-19
pandemic, a foreign language is especially important right now because it can help professionals and
the companies they work for (Vollman, 2020). The majority of American businesspeople consider
English to be the global language and the language of international business (Conner, 2014). To be
successful, businesses need to adapt to the needs of foreign customers as well as communicate with foreign partners effectively.
Moreover, I had the opportunity to familiarise myself with the international integration environment
when I became a student at the international training institute ISB. What I think will become a great
opportunity for starting a business in the 21st century. According to a report by International Labor
Office, Vietnam integrates very quickly into the world economy. In 2015, total exports and imports as
a percentage of GDP reached about 200%. This percentage is very high when compared to
international standards and makes Vietnam more dependent on world market developments (Herr,
Schweisshelm, & Vu, 2016, p. xx).
Figure 1: [Source: International Labour Office, 2016]
Vietnam has gradually opened up its economy and market by establishing bilateral relations in trade,
investment and finance and participating in multilateral mechanisms in those areas. The process of
international economic integration in Vietnam has achieved important steps. Vietnam became a
member of many international educational organizations (ThemeBucket, 2021). Many educational
cooperation models with developed countries have been expanded, especially in the form of
cooperation programs and the building of high-quality universities in Vietnam, and one of them is ISB. 7. Threats.
Since I set my sights on becoming an entrepreneur, one of the threats that I think all economics
students face is that despite the increasingly competitive job market, however, there is still a
shortage of workforce and staff. Since Vietnam became a strategic investment location for many
foreign entrepreneurs (PT Cekindo Business International, 2022), Vietnam has emerged as a start-up hub (Deshmukh, 2020).
In recent years, according to the report of Statista (Figure 2), the number of newly registered
enterprises in Vietnam is increasing (Nguyen, 2021). The start-up job model is increasingly
competitive due to the increasing number of recent graduates. Graduates no longer want to work in
offices with long hours on computers, but now they want to start their own businesses. That's why
doing business is becoming increasingly challenging when there are so many competitors in one
category. The major challenges facing the Vietnamese startup community are the lack of a talented
workforce, capital, lack of scale, and slow regulatory reform (Deshmukh, 2020).
Figure 2: [Source: Statistic, 2021]
The second threat is the COVID-19 pandemic in Vietnam, which has caused great challenges to
business and business development - including multinational corporations. According to a report by
the Report issued by the Vietnam Chamber of Commerce and Industry (VCCI) and the World Bank in
Vietnam, up to 90% of businesses are seriously affected with many businesses having to downsize or
temporarily suspend operations, even bankruptcy (World Bank Group, 2021, p. xx). The number of
businesses shutting down is a record high, reaching more than 100,000 businesses.
Business closures lead to increased unemployment as a result of the epidemic, as well as stock
market volatility. Moreover, the report also shows that the Covid-19 epidemic has affected access to
customers, followed by the impact on cash flow and employees of the business. The supply chains of
many businesses have been disrupted. Import and export faced many big problems and many
factories had to close because they were not supplied with enough production materials. Although
recently, the Vietnamese government has removed the wings and normalized life, problems are still
encountered such as many businesses have gone bankrupt, the lack of knowledge among students
and the outbreak of the epidemic and the explosion of underemployed students.
Therefore, if in the next 3 years after I graduate, the covid epidemic still occurs not only in Vietnam
but also in some other countries, I think this is still a big challenge for being an entrepreneur. References
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