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Capital resource and market are two big ostacles. Thus, it is essential for the management to make right decisions for business development in order that the company will dominate a more large scale of market in the future.
ACKNOWLEDGEMENTS During the internship time in Lan Hai Construction and Commerce Limited Company, staffs in the company have dedicatedly helped and guided to me I would like to express my deeply sincere thank to Lan Hai construction and commerce limited conpany to creat an favorable condition for me to practice and provide documents to complete this report Secondly, I would like to be grateful to the teachers of the English Faculty of Vietnam University of Commerce has provided me useful knowledge during the studying process, especially my supervior, Ms Pham Thuy Giang for her helpful instruction, invaluable suggestion and enthusiasm help from the beginning to the end so that I can go on track to complete this internship report Last but not least, I am extremely grateful to my family and friends for their continuous encouragement and trust Báo cáo thực tập tổng hợp ABSTRACT As we all known, internship is an important step in the studying process It helps students to fullfil the gap between theory and practice The internship is also transitional phase from studying environment to social environment in order to facilitate opportunities for students to practice rubbing and combining the knowledges they learned into the reality During the internship period, students can learn a lot more experience and have the opportunity to find out weaknesses themselves in their knowledge as well as their abilities in order to complete before graduating Moreover, the internship also helps student to develop independent-thinking ability and learn more about the working style and behavior in the office For me, as a student of the major of English for Business, the target set for-week general internship are firstly to learn the practical experience as well as creat an opportunities for myself to use my knowledge into practice Therefore, I choose to pay internship time in Lan Hai Construction and Commerce Limited Company that is one of top companies in Hoa Binh province The internship report consists of three chapter: Chpater I: Overview of the company Chapter II: Business performance of the company Chapter III: Current problems and recommendations However, due to limited time and knowledge, this internship report cannot advoid restriction and shortcommings So, I would be grateful to receive teacher’s comments for more complete report Báo cáo thực tập tổng hợp TABLE OF CONTENTS ACKNOWLEDGEMENT ABSTRACT TABLE OF CONTENTS LIST OF TABLES CHAPTER I: OVERVIEW OF THE COMPANY 1.1 1.2 1.3 1.4 History of establishment and development Business areas Organizational structure Human resources CHAPER II: BUSINESS PERFORMANCE OF THE COMPANY 2.1 The company’s major markets and products 2.1.1 Major Markets 2.1.2 Major Products 2.2 Current situation of business performance 2.2.1 Company’s business performance in 2011-2012 2.2.2 Situation of using capital resource of company in 2011 and 2012 2.3 Current situation of using English in the company 2.3.1 Current situation 2.3.2 Main reasons 2.3.3 Suggested solutions CHAPTER III: CURRENT PROBLEMS AND RECOMMENDATIONS 3.1 Achievements of the company 3.2 Some current problems of the company 3.2.1 Difficulties in mobilizing captial for expanding business 3.2.2 Limited infrastructure 3.2.3 Low qualified workforce Báo cáo thực tập tổng hợp 3.2.4 Poor marketing activities 3.3 Recommendations 3.3.1 Finding out some effective measures for mobilizing capital 3.3.2 Focusing on developing facilities 3.3.3 Improving the quality of human resource 3.3.4 Enforcing marketing activities CONCLUSION REFERENCES Báo cáo thực tập tổng hợp LIST OF TABLES Number Name Diagram 1.1 Organizational structure Table 1.1 Human resources of Lan Hai CCCo.,Ltd Table 2.1 Income statement of the company in two years 2011- 2012 Table 2.2 The situation of using equity of the company in 2011 and 2012 Page CHAPTER I: OVERVIEW OF THE COMPANY 1.1 History of establishment and development Lan Hai Construction and Commerce Limited Company was established on March 26 2006 Báo cáo thực tập tổng hợp Its shortcut name is Lan Hai CCCo.,Ltd It is located at No 51, Thong Nhat street, Vu Ban town, Lac Son district, Hoa Binh province The company was set up by three main members: • Mr Bui Van Hai • Mr Nguyen Van An • Mrs Nguyen Thi Ngoc Lan The charted capital: 5,000,000,000 dong Since it was established, the Lan Hai CCCo.Ltd has been gradually flourishing in terms of infrastructure, the quality of human resources and services to meet the consumers’ various demands It is one of the top companies that contribute a large number of money to Hoa Binh province’s GDP Somes current achievements of the company are due to the quality of products and services that the company offers to customers The company’s annual revenue and profit are growing dramatically and continuously For many years of operation, the company is getting bigger and bigger and grows its position in the marketplace 1.2 Business areas The business areas of the company includes: Trading building materials such as: iron, steel, paint, cement, tiles, sanitary ware, ceramic, household decorative furniture Trading and leasing types of construction machinery: excavators, cranes, trucks, road rollers, compactors Báo cáo thực tập tổng hợp Implementing civil Construction projects, industrial, transport, irrigation, public Construction projects and infrastructures Construction projects Trafficking and processing gold, silver and gemstones Buying and selling, repairing - maintaining cars, motorcycles, transport vehicles, construction machines Setting up business on motels, food services, entertainment services Providing freight services Trading and providing installation services, repairing domestic household appliances, equipment for offices and schools Mining for limestone and minerals in the region 1.3 Organizational structure DIRECTOR DEPUTY DIRECTOR Báo cáo thực tập tổng hợp SALES DEPARTMENT FINANCE AND ACCOUNTING DEPARTMENT Diagram 1.1 Organizational structure (Source: Sales department) TECHNICAL DEPARTMENT Director: The current director is Mr Bui Van Hai who manages and monitors directly business activities of the company The director’s roles are planning, developing and implementing strategies of the company effectively, which maximizes the firm’s profit Deputy director: The deputy director plays an important role in the company with two main tasks: asisting for the director in managing and making the firm’s activities under control following the division of the director and carrying out the duties that are collaborated by the director actively and studiously as well as being responsible for the effectiveness of activities Sales department: Sales department is the part to help the director in terms of selling products and services of the company; especially doing research and developing products as well as markets; building and developing customer relationships Besides, this department is also responsible for these activities to the director Finance and accounting department: The finance and accounting department has the functions of financial statistics and planning for the company by collecting documents and recording additional transactions and reporting corporate income tax, synthesizing and analyzing to give information in the form of economic reports to help managers make economic decisions and report to the tax authorities At the same time, the finance and accounting department is also responsible for staff salaries and other expenses that incurres in the course of business operations Technical department: This department is responsible for providing technical support for the company's operations as well as customers’ needs Moreover, it gives useful advice to the managing director on the following areas: technical quality management and supervision, material and equiqment management, labor safety and environmental Báo cáo thực tập tổng hợp sanitation management at projects, revising and submitting technical designs, construction drawing design, construction quality control, construction quality, reviewing and submitting as-built drawings, performing other duties assigned by the director 1.4 Human resources Number Labor level Post Graduate University College Intermediate General labor The total nuber of labor The number of labor (people) 04 06 22 40 Rate (%) 0% 10% 15% 20% 55% 100% Average income ( NVD) 4,500,000/person/month 3,500,000/person/month 2,500,000/person/month 1,800,000/person/month 3,075,000/person/month Table 1.1 Human resources of Lan Hai CCCo.,Ltd ( Source: Statistics of human resources of company in 2013) Lan Hai Construction and Commerce Limited Company is a small and medium-sized corporation with 40 employees working 8hours a day The average income is 3,075,000 VND per person per month The company’s average income is at an average level growing monthly income for 40 employees This helps to improve living standards of peole in Lac Son district as well as Hoa Binh province Báo cáo thực tập tổng hợp CHAPTER II: BUSINESS PERFORMANCE OF THE COMPANY 2.1 The company’s major markets and products 2.1.1 Major Markets The company’s major market is domestic market, especially Lac Son district and vicinities The company purchases some goods such as: construction materials, fittings of automobiles – motocycles – construction machineries, domestic appliances, equipments for schools and offices from distribution subsidiaries and firms Besides, the company also imports a few of goods such as: construction mechinaries, gold silver – gemstones from Korea, China and Taiwan Finally, they are sold for firms, agencies and individuals that order 2.1.2 Major Products Lan Hai Construction and Commerce Limited Company is a firm that runs its business on many fields but its main products launched to the market are construction materials, construction machines, gold – sliver – gemstones, motels, entertainment services, transport services and limestones Báo cáo thực tập tổng hợp 2.2 Current situation of business performance 2.2.1 The company’s business performance in 2011-2012 Raito 2012/2011 VND Rate % No Criteria 2011 2012 Gross sales of merchandise and services Revenue deductions Net sales of merchandise and service Original rate of goods for sales Gross profit from merchandise and services Financial revenues Financial expenses Including: Borrowing interest expense Sale costs Adminitrative expenses Net profit from operation Other income Other expenses Other profits Gross profit of Accounting Current corporate income tax expenses Net profit after tax Basic earning per share 6,867,745,300 7,451,320,970 583,575,670 8.5 6,867,745,300 7,451,320,970 2,583,575,670 8.5 5,769,589,453 6,278,900,674 509,311,221 8.8 1,098,155,847 1,172,420,296 74,264,449 6.76 2,398,735 25,956,450 20,134,980 3,568,987 49,675,304 42,370,521 1,170,252 23,718854 22,235,541 48.8 91.4 110.4 315,421,670 479,653,902 103,459,102 423,908,420 657,890,425 179,467,870 108,486,750 178,236,523 76,008,768 34.39 37.2 73.5 345,478 7,132,856 (1,567,450) 101,891,652 178,783 4,513,278 (5,469,723) 173,998,147 (166,695) (2,619,578) (3,902,273) 72,106,495 -48.3 -36.7 -248.9 70.8 10 11 12 13 14 15 16 17 19 33,134,450 36,120,211 1,985,760 68,757,202 137,887,936 69,120,734 6.0 100.5 Table 2.1 Income statement of the company in two years 2011- 2012 ( Source: Financial report in two years 2011-2012 – Financial and Accounting Department) Accessment: From income statement of the company in two years, we can see that: Revenues and profit of the company in 2012 increased slowly in comparision with 2011 But the growth was only at low levels Gross sales of merchandise and services Báo cáo thực tập tổng hợp in 2012 was 7,451,320,970 VND that is an increase of 8.5% compared to 2011 Gross profit from merchandise and services in 2012 rose by 6.76% Net profit from operation grew dramatically in this period (73.5%) Moreover, net profit after tax doubled by 100.5% Generally speaking, the revenues and profits of the company increased slowly The business did not make losses but profits were not high Therefore, the company needs to more market research and analysis to have right decisions and new policies for developing its business 2.2.2 The situation of using capital resource of the company in 2011 and 2012 2011 No CAPITAL RESOURCE A LIABILITIES I Short-term borrowing Short-term borrowing and liabilities Trade accounts payables Advances from customers Taxes and amounts payable to the state budget Short-term payables Rewarding and welfare funds II Long-term liabilities Long-term loans and liabilities B EQUITY I Owner’s Equity Owner’s capital Exchange rate differences Retained earnings TOTAL EQUITY 2012 753,123,120 132,450,120 1,224,190,320 543,904,520 417,067,200 411,454,400 55.4 301.6 66,806,900 503,466,630 436,659,730 653.6 30,437,890 (4,771,230) -13.5 Item 10 11 12 13 14 15 16 17 Báo cáo thực tập tổng hợp Ratio 2011/2012 VNĐ Rate % 20,434,100 35,209,120 10,000,000 10,000,000 620,673,000 680,285,800 59,612,800 9.6 620,673,000 680,285,800 59,612,800 9.6 6,083,189,000 6,083,189,000 5,000,000,000 6,856,900,000 6.856,900,000 5,000,000,000 773,711,000 773,711,000 12.7 12.7 1,083,189.000 1,856,900,000 773,711,000 71.4 6,836,312,120 8,081,090,320 1,244,778,200 17.9 Table 2.2 The situation of using equity of the company in 2011 and 2012 (Source: Financial report in two years 2011 – 2012 – Financial and Accounting Department) Assessment: The table shows that the firm mobilized an average amount of capital from short-term borrowings But this source increased sharply from 132,450,120 VND in 2011 to 543,904,520 VND in 2012 The strongest growth was trade accounts payables with the rate of 653.6% in 2012 For long-term liabilities, a large amount of equity which was 620,673,000 VND in 2011was raised and the company added 59,612,800 VND in 2012 The owner’s equity of the company in 2012 was 6,856,900,000 VND, an increase of 12.7% compared to 2011 In general, the capital of Lan Hai Construction and Commerce Limited Company has constantly grown for recent years 2.3 Current situation of using English in the company 2.3.1 Current situation As introduced, Lan Hai Construction and Commerce Limited Company runs its business in many industries and its major markets are districts of Hoa Binh province Therefore, English is hardly used in business 2.3.2 Main reasons There are three main reasons for this problem: Internal Corporation: Lan Hai Limited Company is a small and medium-sized company which supplies goods and services at the average level to the market Comodities can be purchased from distribution subsidiaries in Vietnam Customers are mostly local people When recruiting, the company does not focus on English skill but professional technical skills such as engineering, accounting – auditing, etc are highly appreciated In general, this is an environment where English is hardly used Báo cáo thực tập tổng hợp Markets of The Company: The major market is domestic one, namely Lac Son district and surrounding areas Citizens are mostly Muong and Kinh ethnics Intellectual standards in some areas are low Moreover, the local authorities not pay more attention in developing tourism services Tourists are mostly local residents Partners of company are all Vietnamese Vietnamese is the common language used in negotiations, contracts, etc To sum up, using English is not available Qualifications of Employees: The company has totally 40 employees that is general labor (55%) The employees have mainly mechanical experience They have a poor English skill Because in their working environment using English is not popular, they not spend time and money improving English skill When the company does any business with foreign partners, the company will hire translators These negotiations are not common, namely buying machinery from global markets 2.3.3 Suggested solutions Obviously, English is an important tool in business It connects partners in different countries together It contributes greatly to helping the company go overseas Therefore, the company should enhance the role of English in order to make right decisions for their business activities I would like to suggest some solutions for Lan Hai CCCo.,Ltd: The company should expand its business and improve service quality to maximize profit and mark its strong position in the marketplace The company should focus on investing in tourism Because Lac Son district is a mountainous one that has a lot of beautiful landscapes The National Highway 12B is a part of Son La – Ninh Binh tourism route ( Bai Dinh Pagoda) and Ho Chi Minh Highway that runs through So, it makes sure that this is a wonderful destination for tourists if there are appropriate policies to develop this field Báo cáo thực tập tổng hợp The firm should organize training courses for workers, especially English and professional skills to catch up with the trend of the market and reduce costs for the business when negotiating with foreign partners CHAPTER III CURRENT PROBLEMS AND RECOMMENDATIONS 3.1 Achievements of the company In years of operation and growth, Lan Hai Construction and Commerce Limited Company has achieved many significant accomplishments in building, developing and expanding business activities Fist of all, the company has built a strong position in the market It is one of the top companies that have good prestige and high-quality trade products in Hoa Binh province In 2011, the company was awarded certificates of the Merit of positive contribution to the economic development of the province The company expanded its market sharply in the period of 2011 – 2012 and is getting more and more famous for its high-quality products and good services The number of greater-value contracts and orders are increasing Thanks to this, revenues and profits also increase annually Employees’ lives have been improved Educational levels and living standards are obviously improved The company's infrastructure is improved and expanded compared to the previous years Many morden machines and equipment are equipped to support its business To get this success, the leadership of the company is the most important factor They have specific plans, objectives and judicious strategies to develop the company The Board of Directors have outlined exact directions to penetrate the market and compete with rivals operating in the same industry Báo cáo thực tập tổng hợp The company has young staffs They are always enthusiastic, inquisitive and dedicated to the job Although their literacy is not good, they always learn and accumulate experience to complete their duties as well as possible The company has many incentive policies for customers such as installation, warranty and repairing at home,etc The staffs are always dedicated to deal with customers’ problems In particular, the company also has gratidute-to-customers phases in the festivals So, the company gets the trust of customers The company always tries to create good relationships with customers and partners Ensuring the company’s reputation and quality of products is the first priority of the company Finally, the company has a logical structure The management of business operations, human resources and finance of the company are always ensured 3.2 Current problems of the company Although the company gets many achievements, there are still some limitations that are considered as a major challenge for the development of the company 3.2.1 Difficulties in mobilizing captial for expanding business The company must raise a large amount of capital to use for business expansion and infrastructure improvements This process encounteres many difficulties because of some main reasons: The economic development of Hoa Binh province is slow, mainly focusing on developing agriculture There are few policies to support enterprises The number of bank branches is limited For example, Lac Son district has only a branch of Bank for Agriculture and Rural Development Thus, raising capital from banks gets more time for administrative procedures Lac Son district is not an ideal destination for investors because of its underdeveloping transportation and low literacy Báo cáo thực tập tổng hợp The amount of capital raised from other resources is small and short-time for refunding 3.2.2 Limited infrastructure Infrastructure is an important factor contributing to the development of the company In other words, it is a first foundations that the Board of Directors considers carefully when starting up a business Lan Hai Construction and Commerce Limited Company in many years of operating and developing has many positive changes in infrastructure But this seems to be not enough to keep pace with market trends The number of machines and equipment is limited For instance, when receiving great projects, it is essential for the company to hire some kinds of machines from other firms Scientific and technical applications have not been used in the process Because of limited infrastructure, the company’s ability of competition to large-scale enterprises will decrease Besides, it has to face with difficulties in business expansion In addition, transportation in Lac Son district is backward Roads have been used for many years It is difficult for moving and economic development of the district 3.2.3 Low qualified workforce In general, laborers of the company are mostly general labor with low qualifications There are employees graduating from universities This is a big obstacle for the company Moreover, qualification is not the part that have a great effect on the others It combines with visibility, communication skills and experience to have flexible reaction to any situation that may occur The management is very experienced and have professional skill but they are not sensitive to market trends thus reducing competition with rivals The team of young worker are very enthusiastic with their job but inexperienced and low-qualified Báo cáo thực tập tổng hợp The company does not have a separate department for management and human resources training 3.2.4 Poor marketing activities Marketing activities play an important role in building a good image of the company but the management has not paid more attention to this aspect The prestige and reputation of the company are made up largely due to the quality of services, goods and services offered to customers thus it is widely known The application of information technology in management and marketing is very limited The company has not utilized fully some kinds of advertising, such as: banners, posters ,leaflets, etc to promote the company's image The company does not have a separate department to implement marketing activities therefore the investigation, analysis and market research to learn more about customers’ tastes are slow and unprofound 3.3 Recommendations Through a short time of internship combined with the knowledge I have learned in university, I would like to suggest some solutions to solve the company's current problems: 3.3.1 Finding out some effective measures for mobilizing capital Funds is one of the top factors that should be considered when establishing a business because it affects significantly the size, type and many other targets In the current context of the economy, the company should have more flexible policies in raising capital and maximizing annual profit For example, calling for investment from other large enterprises or policy support from local authorities are very feasible Moreover, the company should have reasonable plans of spending to cut costs and save funding for other investment activities 3.3.2 Focusing on improving infrastructure Báo cáo thực tập tổng hợp Infrastructure is considered as a strong foundation of a business With a good-quality infrastructure, the business will bring to customers good products and services Thus, facilities of the business should be improved: - The company should add more machines and equipment used for the process of labor - Science and technology should be applied in the process of working to save time and budget, simultaneously increase labor productivity 3.3.3 Improving the quality of human resource The training and improving the efficiency and capacity of the workforce are very esssential for the company: - The company should pay more attention to improving the management skills of the leadership and organize workshops to exchange experience and knowledge of the - management and workers The company should train living skills and professional skills for employees as well as open training courses on using information technology and applying science and - technology in the work process The company needs to have a specialized department of management and staff training It is advisible the company should develop an appropriate structure of human resources, promote the features of each individual and utilize effectively human resources of the company 3.3.4 Enforcing marketing activities While market economy is growing, marketing plays an important role in the development of the business Developing marketing activities is a primary goal that any business wants to navigate The more effective marketing activities are, the more developing the business is Thereby, revenue and profit also increase If there is a reasonable marketing policy, it is sure that the business will dominate quickly the large market Báo cáo thực tập tổng hợp - Firstly, the company should periodically discuss and analyze to outline a specific plan - and right direction for the business in the quarter, especially marketing activities The firm needs to fully utilize types of advertising to bring its brand closer to community and use some forms such as: leaflets, banners, posters, Internet advertising, - etc The company should donate to humanitarian organizations of the province and the district and implement after-sale policy as well as posible, such as : free shipping, warranty, installation and repairing at home Báo cáo thực tập tổng hợp CONCLUSION Lan Hai Construction and Commerce Limited Company is a firm which specializes in trading construction materials, construction machines, gold – sliver – gemstones, motels, entertainment services, transport services and limestones During my internship in the company, I have chance to understand more about the company In particular, I get more information about its operation, market and problems In general, the company is facing with many problems to survive in a fecier competion of marketplace I have give some solutions that are based on my limited acknowledge and experience Capital resource and market are two big ostacles Thus, it is essential for the management to make right decisions for business development in order that the company will dominate a more large scale of market in the future Báo cáo thực tập tổng hợp REFERENCES Doko.vn Intership report of previous courses Synthesis Report of Business Result of Lan Hai Construction and Commerce Limited Company in the period of 2011 - 2012 Tailieu.com.vn Báo cáo thực tập tổng hợp ... quality control, construction quality, reviewing and submitting as-built drawings, performing other duties assigned by the director 1.4 Human resources Number Labor level Post Graduate University... liabilities Long-term loans and liabilities B EQUITY I Owner’s Equity Owner’s capital Exchange rate differences Retained earnings TOTAL EQUITY 2012 753,123,120 132,450,120 1,224,190,320 543,904,520... budget, simultaneously increase labor productivity 3.3.3 Improving the quality of human resource The training and improving the efficiency and capacity of the workforce are very esssential for the