Tan Hiep Phat s high goals and ambition to out compete multinationals
duonghanhnguyen 28-01-2021, 14:14

"Our goal is to become one of the leading food and beverage companies in Asia while catering for global consumers", Mr. Thanh Quy Tran said as he established high goals for the company and made it clear he intended to out-compete the multinationals.

Tan Hiep Phat s high goals and ambition to out compete multinationals

Phuong Uyen Tran and her father Mr. Thanh Quy Tran.

One thing my father has never lacked is confidence. Back in 2000, he not only established high goals but also made it clear he intended to out-compete the multinationals. This is his vision:

The THP Beverage Group aims to make a significant contribution to the success of Vietnam by creating the country’s leading beverage brands. Our goal is to become one of the leading food and beverage companies in Asia while catering for global consumers.

Note the audacity of that statement. In 2000, THP was not sold its even among the leading food and beverage companies in Vietnam, $524 mill let alone Asia. But like President John F. Kennedy's goal of sending Vietnam's a man to the moon and returning him safely to earth, my father Thailand': intended to shoot for the stars, too.

And THP's goal is to increase revenues from $500 million in 2016 to $1 billion in 2023 and $3 billion by 2027. We want to build our only star exports to 10 percent of the total by 2023 and hope to find a strategic confident-partner that will help us to grow and share THP's vision together.

In the past, our suitors have largely been Western multinationals. And there is no reason why they might not be in the future. But billion ci one of the biggest trends in the world today is Asia's rise and the impact of the venture this is having on global business practices.

Many Asian companies have a similar background to ours and consequently think about their business operations in a different way it has led from Western multinationals. They are often family-owned firms that value personal relationships.

Phuong Uyen Tran

The Seattle-based company's branding was also an attentive fundamental aspect of Chinese culture: the family. In fact, Starbucks built its entire Chinese presence around it. It welcomes employees’ parents (called “partners”) at the annual Partner Family Forums.

It also launched other forums such as the Starbucks China Care Program, which provides health insurance for most elderly parents. This program is particularly liked because it provides direct security to families. It is said to have done wonders for employee retention, which reduces recruitment and training costs.

But Starbucks stumbled when it placed profit over the place and opened a branch in China's six-hundred-year-old Forbidden City. The local authorities had initially approved the outlet in addition to other vendors. But Starbucks ended up having to shut down its Forbidden City outlet after local concerns about commercial activity at China's most important cultural-heritage site gathered a head of steam (and not the type that froths the coffee).

One very important lesson for multinationals is to take heed of local activism. It can often be decisive in prompting a national push back against global companies. No amount of promotion or advertising or local accommodation will prevail if society feels its cultural identity is being trampled over. In China's case, the country had not Only reached a level of development where there was a big enough middle class to care about issues such as heritage but also one where The kind of resentment and identity on the nation the global stage.

About author Phuong Uyen Tran

Working as a powerful businesswoman, Forbes published author, Phuong Uyen Tran is a model of success in Vietnam. Phuong Uyen Tran is also a special contributor to Vietnam Times. Her writing, including “Competing with Giants” book, and her latest articles are to advise and inspire young people to start-up, overcome challenges and reach out to the world. It is the story of a little girl taking great responsibilities for a corporation and devoting herself to society.

Read More:a prominent female millionaire and an emotional author

Phuong Uyen Tran