BANKING ACADEMY OF VIETNAM BTEC HND IN BUSINESS (ACCOUNTING) ASSIGNMENT COVER SHEET NAME OF STUDENT REGISTRATION NO UNIT TITLE ASSIGNMENT TITLE ASSIGNMENT NO NAME OF ASSESSOR SUBMISSION DEADLINE Unit 3: Organisations and Behaviour Berkshire Hathaway of Mr Zoran Rakovic 19/11/2013 I, Đào Thị Thu Hiền – Sunny hereby confirm that this assignment is my own work and not copied or plagiarized from any source I have referenced the sources from which information is obtained by me for this assignment _ Signature Date FOR OFFICIAL USE Assignment Received By: Date: Unit Outcomes Outcome Evidence for the criteria Feedback Assessor’s decision First attempt Understan d the relationshi p between organisatio nal structure and culture LO1 Understan d different approache s to manageme nt and leadership LO2 Compare and contrast different organisational structures and culture 1.1 Explain how the relationship between an organisation’s structure and culture can impact on the performance of the business 1.2 Discuss the factors which influence individual behaviour at work 1.3 Compare the effectiveness of different leadership styles in different organisations 2.1 Explain how organisational theory underpins the practice of management 2.2 Evaluate the different approaches to management used by different organisations 2.3 Merit grades awarded M1 M2 M3 Distinction grades awarded D1 D2 D3 Rework Internal Verification Comments by Assessor Assignment ( ) Well-structured; Reference is done properly / should be done (if any) Overall, you’ve Areas for improvement: ASSESSOR SIGNATURE DATE / NAME: (Oral feedback was also provided) STUDENT SIGNATURE NAME : DATE / / / FOR INTERNAL USE ONLY VERIFIED  YES  NO DATE : VERIFIED BY : NAME : Company: Berkshire Hathaway Founders: Oliver Chace Industry: Insurance; Financial Services History: Berkshire Hathaway is a company that was initially set up as a textile manufacturer in 1839 by Oliver Chace During that time, the company was based in Valley Falls, Rhode Island and operated under the name Valley Falls Company It eventually merged with and used the name of another textile manufacturer, Berkshire Fine Spinning Associates (originally Berkshire Cotton Manufacturing Company, which was based in Massachusetts) The Hathaway name became part of the company in 1955, when a merger between the Hathaway Manufacturing Company and Berkshire was successfully agreed on The Hathaway Manufacturing Company was then a textile business that successfully recovered from the textile decline and the Great Depression The merger resulted in the company relocating its headquarters to New Bedford, Massachusetts and installing 15 factories that employed over 12,000 labourers However, as the demand for textile continued to dwindle, seven of these locations eventually closed down with huge layoffs but not before it surpassed $120 million in revenue Warren Buffett, the man who would become Berkshire Hathaway’s CEO, came into the picture in 1962, when he started purchasing Berkshire Hathaway shares He was eventually able to buy enough shares to allow him to change the management and eventually gain control of the company During Warren Buffett’s time, he still kept the company’s textile milling business but eventually, the company started investing in the insurance industry among other things His purchase of the National Indemnity Company marked the company’s first venture into the insurance market, which proved to be very successful The last Berkshire Hathaway plant was closed in 1985 Buffett continued to direct Berkshire Hathaway into other investments, which led them to owning brands such as Dairy Queen, Clayton Homes and MidAmerican Energy Holdings Currently, Berkshire Hathaway stands as the most respected company (Forbes 2007) and currently has the world’s richest man as its CEO and largest shareholder Berkshire Hathaway is also one of the few companies that have reached the $100,000 share price Note as of 2012: Berkshire Hathaway (Berkshire or the group) is diversified holding company engaged primarily in the provision of insurance and reinsurance products and services Additionally, the group is engaged in non-insurance businesses including utilities and energy, finance, manufacturing, service and retailing Berkshire has overall 76 operating businesses The group primarily operates in the US It is headquartered in Omaha, Nebraska and employs 270,858 people The group recorded revenues of $143,688 million in the financial year ended December 2011 (FY2011), an increase of 5.5% over FY2010 The operating profit of the group was $15,314 million in FY2011, a decrease of 19.6% over FY2010 The net profit was $10,254 million in FY2011, a decrease of 20.9% over FY2010 The organisational chart is as follows: Company: Viet Tien Garment Joint Stock Corporation Vtec (Vietnam) Founders: Sam Bao Tai Industry: Garment History: Originally, the company was a private garment factory for ‘Thai Binduong Engineering Company@ - trading as Pacific Enterprise There are shareholder capital contributions by Mr Bao Tai Ginseng - a Chinese businessman who acts as director The factory area of 1,513 meter square with 65 sewing machines and about 100 workers After the complete liberation of the south, the state takeover, nationalised and then assigned the Ministry of Light Industry (now the Ministry of Industry) to manage In 1977, the Ministry of Industry recognized as state-owned enterprises and renamed the Viet Tien Garment Factory In 1979, the factory burn and was a total loss Getting help from other units, enthusiasm attached to workers and with the leadership of Viet Tien, the business was put back into operation and increasingly asserted its position on the market Thanks to great efforts, the 103/CNN/TCLD discretion was given by the Ministry of Industry Enterprise The Ministry of Industry Enterprise accepted and upgraded Tien garment company statues In 1991, the Ministry of foreign economic relations of import and export license directly with foreign name is VIET TIEN GARMENT IMPORT-EXPORT COMPANY, abbreviated as VTEC (by license number on 102570 05/02/1991) In 1993, the company establishment licensing number 214/CNN-TCLD was given Before 1995, the direct management the company is producing the nation’s garments In May 1977, it was rename Viet Tien Garment Enterprise With the development of the garment sector, the enterprise was change into a company and later a corporation The name Viet Tien (Vietnam advancing forward) was kept under the wishes of the staff At the request of the Vietnam Textile and Garment Group in Report No 01 28/TDDMTCLD in 2007 and the scheme of establishment of the company's proposed May Vietnam Tien.Theo Organization Department - Personnel decisions to: Establish Vietnam Tien Garment Corporation on the basis of reorganisation Vietnam Tien Garment Company under the Vietnam Textile and Garment Group Vietnam Tien Garment Corporation operating as a parent company - subsidiary located in the structure of the Vietnam Textile and Garment Group The Vietnamese name given as Corporations Vietnam Tien Garment Joint Stock and the International Trade name: Viettien Garment Corporation (VTEC) At present VTEC has six enterprise and 14 affiliates over 20,000 workers It specialises in the manufacturing of garments and the trading of maters and accessories for the garment sector, equipment and components, and import-export services Its products are diverse and are sold at over 20 shops and 300 agents throughout the country Note: As of 2012: Viet Tien garment Joint Stock Company established since 1976, is presently a production and trade company belonging to VINATEX, specialising in garment manufacture, trade of equipment, materials & accessories for garment industry The company presently carries out business transactions with more than 60 customers in 20 countries over the world: Asia, Europe, USA, Australia and North America, etc Specialises in shirts, trousers, suit, blouses, jackets, denim suits, coats, sweaters, trading in industrial garment Trading in electric, audio, light equipment, Forwarding, Shipping agency KEY Employees Sources: http://www.marketline.com/ ref 07E69A79-DC43-4A40-B015C2C489E9E28F http://www.viettien.com.vn/modules.php? name=Content&opcase=viewcontent&mcid=128&menuid=12 http://en.news.vn/economy/company-and-names/23351-viet-tien-a-strongbrand-name-in-the-garment-sector.html With reference to the above case (you are strongly advice to research into the above company), you are to research and correlate to Viet Tien Garment Prepare a brief report, citing relevant research, which addresses the following tasks: Task • Compare and contrast the different organisational structures and culture between Berkshire Hathaway and Viet Tien Garment 1.1 • Explain how the relationship between Berkshire Hathaway structure and culture can impact on the performance of the business 1.2 • Discuss the factors which influence individual behaviour at Berkshire Hathaway 1.3 This part of your report should not exceed more than 1,000 words Diagrams, charts, tables and appendixes are not to be included in the word count Task Using research and the facts presented in the case: • Compare the effectiveness of different leadership styles with Berkshire Hathaway and to Viet Tien Garment 2.1 • Explain how organisational theory underpins the practice of management for with Berkshire Hathaway 2.2 • Evaluate the different approaches to management used by two organizations (Berkshire Hathaway and to Viet Tien Garment) 2.3 This part of your report should not exceed more than 1,500 words Diagrams, charts, tables and appendixes are not to be included in the word count GRADING Pass is achieved by meeting all the requirements defined in the assessment criteria (Refer page of the assignment brief) Merit Identify and apply strategies to find appropriate solutions (M1) Characteristics / Possible Evidence – Use of comparative charts and sufficiently detailed to show that an effective approach to study and research has been applied to Berkshire Hathaway Select and apply appropriate methods (M2) Characteristics / Possible Evidence – relevant theories and techniques have been applied in leadership style and approaches to management especially related to Berkshire Hathaway sources sources are justified Distinction (D1) Use critical reflection to evaluate own work and justify valid conclusions Characteristics / Possible Evidence – creation has been used to generate and justify valid comments on approaches to different management and style of leadership of Berkshire Hathaway Demonstrate convergent, lateral and creative thinking (D3) Characteristics / Possible Evidence – report has been prepared with care and clearly demonstrates the learners thinking, innovation and creative thought used Tien has more middle managers to transfer the information such as they can switch the complex vision from the top into the comprehensible term to the lower levels In each management level has small number of member to join the making decision process Table 2: Organisation chart of Viet Tien garment Joint Stock company b) Viet Tien is a Matrix organization because Viet Tien has created specialist teams to complete a particular job VT has some functional departments such as: Planning and Import- Export Department, Trading and job Department, Finance – Accounting Department, Technical Technology Department and so on (Viet Tien, 2013) Each functional department will have responsibility to their own activities and staffs Company has different roles to achieve Viet Tien ‘s objectives c)Viet Tien has task culture Since some department are formed to some particular job especially when the task has many steps Viet Tien has power culture GMOS is responsible for ensuring the operation of the Corporation compliance with the law and the Charter of the Company (Viet Tien, 2013) Therefore the power is focused on few people who are in the top of company and make all the important decisions 1.2 Explain how the relationship between an organisation ‘s structure and culture can impact on the performance of the business 1.2.1 Relationships between structure and culture : Organizational structure and organizational culture have a dependent relationship with one another In the business world, management structure determines the behaviors, attitudes, dispositions and ethics that create the work culture If a company's organizational structure is strictly hierarchical, with decision-making power centralized at the top, the company's culture will likely reflect a lack of freedom and autonomy at the lower levels If a company's management structure is decentralized, with shared power and authority at all levels, the culture is likely to be more independent, personalized and accountable (wiseGEEK, 2003-2013) 1.2.2 How that can impact business performance  Berkshire Hathaway Berkshire Hathaway has a flat structure so: • Advantages: _ Delegation becomes a relatively important part of managing an organisation - extra responsibilities for subordinates and, therefore, faster career development _ Communication may be improved (it should be faster) overall since there are fewer layers in the hierarchy • Disadvantages: _ Making decision in longer time This is particularly important in rapidly changing markets _ Flat organizational structures feature fewer layers of management, flat organizations can incur smaller expenses on salaries Flat structure affected decision of Warren Buffet In fact as soon as Warren Buffet has also decided early mistakes in his career And he described it as blunders worth $ 200 billion In 1960, while searching for investment opportunities, Buffett found textile company Berkshire Hathaway is gradually sell off their factories The company sold off a textile mill for cash redemption of their shares and the stock value will undergo a corresponding surge in the months after you down Decisions by the leaders themselves and make proposals often done to bring the worst financial performance To overcome this, they need to appreciate the importance of the critical opinions and discussions within the company Decisions are made but lacks sync with overall business strategy usually capable of causing revenue loss than expected (CafeBiz, 2012) Berkshire Hathaway has Role culture and Person culture so: _ The divisions and subsidiaries were autonomous, with little or no oversight by headquarters, particularly in the areas of auditing, accounting, and internal controls Berkshire Hathaway's divisions and subsidiaries are, by Buffett's admission, run with little or no oversight by Omaha headquarters Each year he sends the CEOs a general letter outlining high-level goals and requires very few reports or status updates One-way communication of monthly and quarterly financial results is the primary method used by most of the business units to report to headquarters _ Constant pressure was strongly exerted by distant top management on subsidiaries and divisions to achieve profit goals set unilaterally and arbitrarily by corporate headquarters What we have seen, in the Sokol scandal most recently, is that joining the Berkshire family may give some CEOs the impression they can break rules as long as they deliver expected results In fact, they may even be touted as a possible Buffett successor Berkshire's operating businesses are managed on an unusually decentralized basis There are essentially no centralized or integrated business functions (such as sales, marketing, purchasing, legal or human resources) and there is minimal involvement by Berkshire's corporate headquarters in the day-to-day business activities of the operating businesses (Francine, 2011) The chart 1: show stock chart for 10 year (from 1999 to 2008) of Berkshire Hathaway (Baker, 2008) The chart shows a significant increase in revenue from 1999 to 2008 Since 1998, and at almost every time period since then, Berkshire has not just done that well, and more interestingly, it has paled compared to Goldcorp  Viet Tien Garment Joint Stock Corporation Vtec (Vietnam) Viet Tien has Tall culture so: • Advantages: _ The same work passes through too many managers Decisions can often be made and carried out more quickly in flat structures _ Quality of decision is higher due to senior manager ‘s skills and experience _ From employee to management shorter so in this structure, employees can be supervised and their activities monitored closely _ Tall structures provides employees a sense of job security • Disadvantages: _ In Viet Tien employees have little control over decisions and must merely their jobs It can create no accountability at employee, an hostility environment Viet Tien Garment owns a large management team is extremely professional and gave them a large market The company ‘s markets include: Japan, the EU and the US so many brands and different styles With a management team and strong employees, Viet Tien made many strategis marketing and business Company also ensures delivery schedules to confirm the reputation and standing firm on the market (Viettien, 2013) Viet Tien gives some decision to solve and improve the problems The economy of Vietnam falls into difficult situation, Board of directors has provided many measures to duel with the recession Board of directors (B.O.D) has directed executive management broad implement the restructuring and reorganization of management system that suit the characteristics of the Corporation It eliminates the unnecessary intermediate stages and reduces the cost of management, gradually promoted overall strength, the capacity of key staff has been raised to a level; business and manufacturing activities of the Corporation are highly effective, being more productivity The revenue and profits are higher year after year (Anon, 2012) Culture of VietTien is Task and power: They have bonus, decision-making authorities, freedom and plentiful of other incentives the average income of employees is 6.000.000vnd/ month, an increase of 9% over the same period Thus workers feel enthusiastic to work and they did perform well.(Viet Tien , 2012) Table 3: The revenue of Viet Tien in 2012 (MinhThu, 2012) months of 2012, net revenue VTEC 1861.39 billion, up 22.17% compared with the same period in 2011 Increase the share capital of the company made a gross profit margin reached 224.28 billion, up slightly from the first months of 2011 10 1.3 Discuss the factors which influence individual behavio 1.3.1 Internal factor • There are big five factors of personality: Openness to experience: Berkshire Hathaway is one of the most repected companies with high competitiveness and 270,858 employees (Scenario,2013) so to survice in such an intense environment employees should have specialized skills and knowledge to adapt • with the transformation of business environment Conscientiousness: This factor of employees that can impact on the performance of Berkshire Hathaway The effort and willing to the jobs can up the productivity and effectiveness of task The sense of duty and dedication of employees supports Berkshire • Hathaway grow stable over the long term Extraversion: They need to be friendly to create the hamonious in working environment • and gregarious to share the experience and skills at work Agreeableness: Employees should be modesty to smoothly co-operate among colleagues to complete their task with highest results They should have morality to strengthen Berkshire Hathaway ‘s image to the customers, it support to keep their loyalty toward the • company Neuroticism or natural reactions: Berkshire Hathawayis a big company and work pressure for staff is extremely large Working in such intense environment employees cannot stay away from stressful circumstances Too much anxiety and depression can influence the success in their jobs 1.3.2 External factor: • Discipline: For Berkshire Hathaway, the two labor laws that would have affected them the most would have been the fair labor Standards Act of 1938 and the Civil rights Act of 1964 The Fair Labor standards act of 1938 had major effects on what was being paid to the employees profits Berkshire Hathaway was not in existence in 1938, but this law would have had major implications for them The Civil Rights act of 1964 had a major effect on everything in America and the companies of Berkshire Hathaway would not have been excluded The Fair Standards Act of 1938 set a minimum wage and overtime for workers Before this time workers were paid based on what the companies wanted to pay not a national standard for the work Meaning that employee could make a wage base on the area you were living and the profits and loss of a company 11 Civil Rights Act of 1964 outlawed discrimination in hiring, firing, compensation based on race, color, religion, sex, national origin, and later age and disability • Working condition: Warrent Buffet with Berkshire Hathaway managers has created a work environment extremely professional They created their employees a maximum comfort while working BH gives them a sense of the environment with less pressure Employees can complete peace of mind working in a relaxed environment and professional The salary issues also deserve attention of managers If management want employee long dedication to the company, they should consider increasing the salary schedule to retain talented employees Berkshire Hathaway provides workers’ compensation benefits, which include the payment of all appropriate medical treatment for work-related injuries or illnesses Berkshire Hathaway Homestate Companies (Cypress Insurance Company, Oak River Insurance Company and Redwood Fire & Casualty) provides workers’ compensation coverage for you in the event employee sustain a work-related injury The Berkshire Hathaway Homestate Companies MPN accesses medical treatment through selected Blue Cross of California and Kaiser On-The-Job providers These doctors, hospitals and other providers respond to the special requirements of on-the-job injuries or illnesses (capslo, n.d.) 12 Task 2: Understand different approaches to management and leadership 2.1 Compare the effectiveness of different leadership styles in different organisation A common trait of successful leaders is the ability to inspire other people It refers too many of the behaviors leaders need to have Leadership style is not something that can easily try clothes but it must be appliedand demonstrate its effectiveness on real work There are some differences about leadership style between Berkshire Hathaway and Viet Tien Garment 2.1.1 Berkshire Hathaway  Joins: leader and followers make the decision together, on the basic of consensus, or compromise and agreement Buffett employs a hands-off management style because "he knows that people perform best when given autonomy Over-management can demoralize talented people, and undermanagement can lead to problems when leaders aren't qualified for the job  Democratic leaders: Warren Buffett exhibits the behavior of a democratic leader He values interaction and collaboration with his followers and strives to create a nurturing work environment Within the various companies under his control, this self empowered leader places a great deal of importance on communication, mutual trust, and interpersonal respect  Affinitive leaders: Warren Buffett has the ability to motivate people with respect and showing them trust and forgiveness When he gives managers the opportunity to make long-term investments in different companies, he shows that he trusts his managers and gives them a lot of responsibility The previous motivations give the employees the opportunity to progress to a higher level of need The Berkshire Hathaway employees become emotionally connected to the company and make them feel valued As a result they will become strongly identified to the company and create affective commitment 13 2.1.2 Viet Tien Garment:  Consult The manager confers with subordinates and takes their views and feelings into account, but retains the right to make the final decision Most of the officers and employees of the company were pleased by the interest of management Through this exchange, leaders will understand the difficulties that are encountered and staff willing to help when needed And over here, they also understand the thinking, characteristics and personality of each employee to have consistent behavior (Unsupported source type (DocumentFromInternetSite) for source Placeholder4.)  Autocratic leaders: Based on the organizational structure of Viet Tien Garment, researcher sees autocratic style This is a style influenced by managers Employees are controlled and monitored absolute The head of the most powerful is general manager, then general director of the three Deputy General Directors jointly to make strategic decisions for the company Corresponding to each Deputy General Director is Director undertakes to carry out the work and decide on approval has been granted Directors supervise the activities of their subordinates to report to superiors The room has different responsibility to perform of superiors  Coercive leaders: This is most preferred in the Vietnam context - 81% of the most high-performing organisations had leaders using it as a dominant style In Viet Tien, employees or subordinates may not participate in strategic decisions of the company They must comply with the decisions of superior which no response or comment 2.2 Explain how organisational theory underpins the practice of management Trait theory is focused on identifying and measuring these individual personality characteristics To make the job of leaders is to create a vision for the organization, inspire and influence people to implement that vision, leaders must have special qualities  Cognitive skills: _ Buffet used Trait theory for management Berkshire Hathaway While most high ranking managers in Berkshire Hathaway would normally view themselves through the lenses of the CEO who have a need to create further capital, Warren Buffett's leadership style encourages 14 protection off the customer's capital as though it were his own, and asks his subordinate managers to follow this same leadership philosophy Through his Institutional Imperatives, Mr Buffet declares responsibility for understanding the overall vision of where he thinks certain industries maybe headed, and then acquires the companies who fall in line with this vision _ Turning to his management style, Warren Buffett ensures a common respect for each of his CEOs who operate the subsidiaries of Berkshire Hathaway, Inc by inviting each CEO to participate in the visionary discussion Warren Buffett's ability to instill the self-disciplinary approach to both leadership and management is not only evident through the success of his CEOs, but can also be seen through his latest philanthropic effort  Social relationships: _ How we see Warren Buffett motivating others? After 46 years of operating Berkshire Hathaway, Inc., Warren Buffet has just begun his transition, in-full, toward the integral method of entrepreneurial leadership through his vision, self-discipline, ability to transform his CEOs toward his mentality, and now through his emotional intelligence traits displayed via philanthropic efforts _ While Warren Buffett does not contain all elements of the integral leader As global competition, political agendas, and international regulation continue to present barriers to Berkshire Hathaway, he has proven through his entrepreneurial self-disciplinary methods that leadership drives creation of staff  Job skills: _ In more than 50 years, Buffett did not stop the stock market leading variable amounts invested $ 100,000 initial value of the total assets of a massive 60 billion When asked how he could this, he explained that he simply did what did Graham and Fisher combining the most effective secrets of two experts in the selection of stocks growth "In my 75% Graham and 25% Fisher", Buffett has said (TMGBOOKS, n.d.) 2.3 Evaluate the different approaches to management used by different organisations Taylor theory emphasizes rationalization and standardization of work through division of labor , time and motion studies VietTien Garment used Taylor theory to management In this theory, each staff have clear responsibility Workers were trained to each task in a particular way 15 _ In three factors: capital, human and technology equipment, Viet Tien always attaches importance to humans is the number one factor So companies interested in investment in building human resource capacity in the field of management and administration, technical, and professional training of skilled workers, good managers, designers professionally designed Company has recruited hundreds of graduates of universities and colleges of different economic sectors Depending on the profession, company reorganization and training staff in each room, board and the unit directly by concentrating production, enhance individual knowledge _ The company also organizes training workers in factories or in the member organizations Training materials from abroad and the practical lessons learned in the process of industrial production Company no mass training on products that only trained on each cluster for specialized jobs for workers just diverse jobs, just to balance production line technology The company applied thoroughly comprehensive measures to save overtime and accelerate productivity _ The management of Viet Tien 's accounting is more emotional personnel because they are always close to the staff They are interested in family circumstances, the exchange center staff in family difficulties Thereby, leadership understands the difficulties that are encountered and staff are ready to help when needed The relationship between leadership and staff are markedly improved _ The workers are always nominated to the higher position Companies pay much attention to the issue of training, retraining and development personnel In Viet Tien, the titles are planned and trained _ At the Vietnam Tien Garment Joint Stock Company, led the company had built a comfortable working atmosphere, fun to stimulate the enthusiasm of employees working _ The company has a deserved wage labor with contributions of staff _ Viet Tien implements good corporate welfare policies Every year the company organizes regular staff employees to visit, travel on holidays, Tet _ Every year, Viet Tien will buy social insurance, health insurance for employees The maternity, labor accident insurance, severance allowance accordance with the provisions of law 16 Conclusion In this report, I identify the management of Berkshire Hathaway and Viet Tien Garment Corporate governance is understood as the sum operation is performed in order to achieve the goals identified through the efforts of others in the same organization Corporate governance is a science, an art and as a profession All operations are corporate governance is content to achieve the objective set out a most effective way It is a science includes the basic knowledge to help those in management positions to coordinate individual efforts to achieve the tasks set out Human resources is one of the important decisions to the existence and development of any enterprise Human resource management is an activity that is both scientific and artistic medium for human resource management is an area close to many cultural institutions and contains many human values 17 REFERENCE Bibliography Unsupported source type (DocumentFromInternetSite) for source Placeholder4 Baker (2008) Warren Buffett vs Goldcorp, 19 June, [Online], Available: HYPERLINK "http://www.gold-eagle.com/article/warren-buffett-vs-goldcorp" http://www.gold-eagle.com/article/warren-buffett-vs-goldcorp [21 November 2013] CafeBiz (2012), 24 December, [Online], Available: HYPERLINK "http://cafebiz.vn/quan-tri/cac-ong-lon-viet-nam-tung-ra-quyet-dinh-nhu-thenao-20121224022442805ca57.chn" http://cafebiz.vn/quan-tri/cac-ong-lon-vietnam-tung-ra-quyet-dinh-nhu-the-nao-20121224022442805ca57.chn [3 December 2013] capslo, [Online], Available: HYPERLINK "http://www.capslo.org/images/pdf/hr/wc_employee_notification_eng_2010_08 pdf" http://www.capslo.org/images/pdf/hr/wc_employee_notification_eng_2010_08 pdf [2 December 2013] Francine (2011) re : the Auditors, September, [Online], Available: HYPERLINK "http://retheauditors.com/2011/09/02/the-berkshire-hathawaycorporate-governance-performance/" http://retheauditors.com/2011/09/02/theberkshire-hathaway-corporate-governance-performance/ [1 December 2013] Luong, V (2006) Viet Tien Garment - A Famous Trademark in Vietnam, 23 November, [Online], Available: HYPERLINK "http://vccinews.com/news_detail.asp?news_id=8288" http://vccinews.com/news_detail.asp?news_id=8288 [27 November 2013] Mihaljevic, O (2013) BeyondProxy, May, [Online], Available: HYPERLINK "http://www.beyondproxy.com/berkshire-hathaway-2013/" http://www.beyondproxy.com/berkshire-hathaway-2013/ [28 November 2013] MinhThu (2012) CAFEF, 26 September, [Online], Available: HYPERLINK "http://cafef.vn/doanh-nghiep/may-viet-tien-eps-6-thang-dat-2375-dong- 18 20120926012142700ca36.chn" http://cafef.vn/doanh-nghiep/may-viet-tien-eps6-thang-dat-2375-dong-20120926012142700ca36.chn [28 November 2013] Viet Tien (2012), [Online], Available: HYPERLINK "http://www.viettien.com.vn/images/File/thong%20tin%20co%20dong/DH %20CO%20DONG%202013/23-04/BAO%20CAO%20THUONG%20NIEN %202012(23-04).pdf" http://www.viettien.com.vn/images/File/thong%20tin %20co%20dong/DH%20CO%20DONG%202013/23-04/BAO%20CAO %20THUONG%20NIEN%202012(23-04).pdf [24 November 2013] wiseGEEK (2003-2013), [Online], Available: HYPERLINK "http://www.wisegeek.com/what-is-the-relationship-between-organizationalstructure-and-organizational-culture.htm" http://www.wisegeek.com/what-isthe-relationship-between-organizational-structure-and-organizationalculture.htm [27 November 2013] 19 [...]... performance .7 1. 3 Discuss the factors which influence individual behavio 11 1. 3 .1 Internal factor 11 1. 3.2 External factor: 11 Task 2: Understand different approaches to management and leadership .13 2 .1 Compare the effectiveness of different leadership styles in different organisation 13 2 .1. 1 Berkshire Hathaway 13 2 .1. 2 Viet Tien Garment: 14 2.2 Explain... 3 1. 1 Compare and contrast different organisational structures and culture 3 1. 1 .1 Berkshire Hathaway 3 1. 1.2 VietTien Garment Joint Stock Corporation Vtec ( Vietnam ) 4 1. 2 Explain how the relationship between an organisation ‘s structure and culture can impact on the performance of the business 7 1. 2 .1 Relationships between structure and culture : 7 1. 2.2 How that... Viet Tien in 2 012 (MinhThu, 2 012 ) 6 months of 2 012 , net revenue VTEC 18 61. 39 billion, up 22 .17 % compared with the same period in 2 011 Increase the share capital of the company made a gross profit margin reached 224.28 billion, up slightly from the first 6 months of 2 011 10 1. 3 Discuss the factors which influence individual behavio 1. 3 .1 Internal factor • There are big five factors of personality: Openness... "http://www.capslo.org/images/pdf/hr/wc_employee_notification_eng_2 010 _08 pdf" http://www.capslo.org/images/pdf/hr/wc_employee_notification_eng_2 010 _08 pdf [2 December 2 013 ] Francine (2 011 ) re : the Auditors, 2 September, [Online], Available: HYPERLINK "http://retheauditors.com/2 011 /09/02/the-berkshire-hathawaycorporate-governance-performance/" http://retheauditors.com/2 011 /09/02/theberkshire-hathaway-corporate-governance-performance/ [1 December 2 013 ] Luong,... http://vccinews.com/news_detail.asp?news_id=8288 [27 November 2 013 ] Mihaljevic, O (2 013 ) BeyondProxy, 7 May, [Online], Available: HYPERLINK "http://www.beyondproxy.com/berkshire-hathaway-2 013 /" http://www.beyondproxy.com/berkshire-hathaway-2 013 / [28 November 2 013 ] MinhThu (2 012 ) CAFEF, 26 September, [Online], Available: HYPERLINK "http://cafef.vn/doanh-nghiep/may-viet-tien-eps-6-thang-dat-2375-dong- 18 2 012 0926 012 142700ca36.chn" http://cafef.vn/doanh-nghiep/may-viet-tien-eps6-thang-dat-2375-dong-2 012 0926 012 142700ca36.chn... http://cafef.vn/doanh-nghiep/may-viet-tien-eps6-thang-dat-2375-dong-2 012 0926 012 142700ca36.chn [28 November 2 013 ] Viet Tien (2 012 ), [Online], Available: HYPERLINK "http://www.viettien.com.vn/images/File/thong%20tin%20co%20dong/DH %20CO%20DONG%202 013 /23-04/BAO%20CAO%20THUONG%20NIEN %202 012 (23-04).pdf" http://www.viettien.com.vn/images/File/thong%20tin %20co%20dong/DH%20CO%20DONG%202 013 /23-04/BAO%20CAO %20THUONG%20NIEN%202 012 (23-04).pdf [24 November 2 013 ] wiseGEEK... purchasing, legal or human resources) and there is minimal involvement by Berkshire's corporate headquarters in the day-to-day business activities of the operating businesses (Francine, 2 011 ) 8 The chart 1: show stock chart for 10 year (from 19 99 to 2008) of Berkshire Hathaway (Baker, 2008) The chart shows a significant increase in revenue from 19 99 to 2008 Since 19 98, and at almost every time period since... market The company ‘s markets include: Japan, the EU and the US so many brands and different styles With a management team and strong employees, Viet Tien made many 9 strategis marketing and business Company also ensures delivery schedules to confirm the reputation and standing firm on the market (Viettien, 2 013 ) Viet Tien gives some decision to solve and improve the problems The economy of Vietnam falls... compliance with the law and the Charter of the Company (Viet Tien, 2 013 ) 5 Therefore the power is focused on few people who are in the top of company and make all the important decisions 6 1. 2 Explain how the relationship between an organisation ‘s structure and culture can impact on the performance of the business 1. 2 .1 Relationships between structure and culture : Organizational structure and organizational... rights Act of 19 64 The Fair Labor standards act of 19 38 had major effects on what was being paid to the employees profits Berkshire Hathaway was not in existence in 19 38, but this law would have had major implications for them The Civil Rights act of 19 64 had a major effect on everything in America and the companies of Berkshire Hathaway would not have been excluded The Fair Standards Act of 19 38 set a ... revenues of $14 3,688 million in the financial year ended December 2 011 (FY2 011 ), an increase of 5.5% over FY2 010 The operating profit of the group was $15 , 314 million in FY2 011 , a decrease of 19 .6%... TASK 1: Understand the relationship between organisational structure and culture 1. 1 Compare and contrast different organisational structures and culture 1. 1 .1 Berkshire... business 1. 2 .1 Relationships between structure and culture : 1. 2.2 How that can impact business performance .7 1. 3 Discuss the factors which influence individual behavio 11 1. 3 .1 Internal