PRINCIPLE OF MANAGEMENT
Personality: 5 aspects
1. Openness (ko dong nghia voi creative)
● How much would I like to change
● How much do I like new things
2. Conscientiousness
● How tidy or hard-working am I (hard-working: lam viec co tam)?
● Cach xac dinh: nguoi do co ngan nap hay ko
3. Extraversion
● Do I find energy when interacting with other people
4. Agreeableness
● How much do I value other people's feelings
5. Neuroticism
● How easily do I get upset
HOW CAN WE APPLY OUR PERSONALITIES?
- Jobs and friends => everyone is different
- HOWEVER, some are unfavorable
Extreme combo (5<...>95 extreme nhieu cot la co van de)
- Change? Just a little
● How to change without events (bien co):
=> Do small things often [openness and conscientiousness]
CHAPTER 1:
- Managers (3 levels)
-> Employee (2-3 years)
-> Line manager: responsible for the daily operation of the company
(nhanh thi 2 3 nam, cham thi qua 30 tuoi)
-> Middle manager: In general, there can be 2 types: responsible for a
function of a company, responsible for regional (giam doc chi nhanh),
product line (giong top manager)
-> Top manager (CEO, CFO, COO, CTO, CBDO,...): 2 responsibilities:
Long-term planning and strategy for the company
Oversight: Deal with problems that affect the company
- What to do?
Process: 4 steps:
Planning — Organizing — Leading — Controlling — (back to
Planning)
- Organizing: give the right job to the right people and give them
enough resources to do the job
- Leading:
- Controlling: check quality, progress,
- Challenges of my generation?
● Digital: changing the way we work with customers and colleagues (bay
gio xai mang xa hoi nhieu de lam viec hon)
● Ethics (dao duc): protect the environment, serve the community
● International competition
DECISION-MAKING
Outline
1. Before making any decision
2. Programmed vs non-programmed
3. Bad decision
4. Design thinking
5. Bad decision
6. Design thinking
1. Before making a decision
Before making any decision, you must be aware of your life view =>
BECAUSE sometimes you are the problem, not the business.
2. Progress
8 steps
1. Identify problems
2. Define criteria
3. Weigh (độ quan trọng)
4. Develop options
5. Analyze
6. Pick best
7. Implement
8. Evaluate (đánh giá)
Ví dụ:
1. Trip
2. Time Space Price
3. Weigh (x3 x1 x3)
4. Bus Car Fly
5.
Time Space Price
Bus 3 7 10
Cars 6 4 5
Fly 10 10 1
6. Choose Bus (46)
Then 7 and 8
3. Style
Unique = Big 5 + View about life (triết lý sống)
3 big common types of style
Rationality Bounded Rationality Intuitioon
Similarity - Try to choose the best
- Use calculation & logic for decision
Differences Develop as many Consider the Allow emotion +
options as possible options/criteria that are calculation in decision
& analyze with/ convenient making
many criteria as
possible.
4. Programmed vs non-programmed
- As an employee, ➡ no choices to make
● Decisions have been made for u by the company
● Usually procedure (bạn học bài nhanh ntn, trả bài trơn tru ntn,...)
- As manager
Non-programmed
5. Bad decision = bias
- Overconfidence
- Immediate gratification - definition: making decisions based on
short-term benefits without considering long-term benefits or
consequences
- Anchoring effect: make a decision based on 1st information u
have, even if it’s wrong information (phải có chuyên gia giúp
mình tránh)
- Selective preception
- Confirmation: u rush to make decisions without analysis and then
find information to support your decision
- Framing
- Availability: u believe popular information is true and unpopular
information is false
- Representation
- Randomness
- Sunk costs: Make decisions based on time, money, and effort that
u have spent rather than information abt the problem
- Self-serving
- Hindsight
6. Decision making
New style + popular
Definition: go through an 8-step process based on the user's pov, not your
own
Conflict and Human’s wrong
CHAPTER 3: CULTURE
Outline
Culture
1. Activity
2. As employee
- Easy
- advanced
3. As manager
- Types
- How to international
- Issues
1. Activity
Morning glory (rau muống)
Khoảng thời gian đầu mục 1 thầy kêu mọi người nói cách nấu món thịt kho
hột vịt bằng tiếng Anh.
*Khi tiếp khách nước ngoài, nói món ăn:
- Ingredients
- Steps
✅
- Serve
Culture is what remains after the business is done
2. As employee
- Easy: food, language, clothing, holiday, music, wonders, sports,
religion, etc
- Advanced: lifestyle, the way of thinking
(HOFSTEDE) - Analyze a country’s culture
There are 5 key elements:
1. Collectivism: How much do u value the benefit of the group over the
benefit of the individual (High: Asia - Low: USA)
2. Power distance: how much respect u give ppl higher than you
3. Uncertainty avoidance: how much you want to avoid risks (High: né rủi
ro - Low: chấp nhận rủi ro)
4. Masculinity ≠ gender: how much physical and mental strength should u
show?
5. Time-orientation
- Long: I want to achieve and build a career
- Short: Value tradition and enjoy the moment
Format trả lời câu hỏi tình huống:
- Solution
- Explain + kiến thức
- Nếu muốn extra points: ghi thêm cái mình làm ngược lại
3. As a manager
- Types
+ Global-ethnoentric
+ Multi-domestic - polycentric
+ Borderless - geocentric
Home vs Host
- Global: home is best
- Multi-domestic: the host is best
- Bordeless: The company has a unique way of working and recruiting
the best fit
How to be INTERNATIONAL
6 ways:
1. Outsourcing: Part of the production and service is done in another
country (1 phan nao do se o nuoc ngoai)
2. Import/export: (nhập cái áo về luôn)
3. Licensing: You allow another company to use parts of you to improve
its business.
4. Franchising: You allow another company to operate in the same way as
you do
5. Join venture (thường làm ăn lớn): công ty liên doanh.
6. Subsidiary: do business without partners.
Issues:
- Ethnics: Protect the environment, serve the community
- Diversity:
+ Surface level: Age, skin, color, height, clothing,...
+ Deep level: big5, IQ, EQ, religion,...
Change Management
Outline:
1. Cause of change
2. Process: 3 phases
3. Barriers to change
4. Organizational culture
5. Culture for change
6. Innovation
1. Cause of change
Openness: Must have a reason to change
- External: needs, law, technology, economy
- Internal (visible): Strategy (CEO), equipment, workers, demographic,
scandal
2. Process
Analysis
- Causes
- Affected:
Areas (in the company)
- Strategy:
+ How the company makes money
+ Long-term plan, vision & mission
- Structure: things that keep the company running, except finance
+ Physical: can hold (facilities,...)
+ Non-physical: work assignment, rules & regulations,
procedures.
- People: Hire/Fire
- Tech: (no need to explain)
- Plan for change
▶️
- Organize for change
Stage 1 of a change project (unfreezing preparation)
- Lead the project
✅
- Control
▶️
Always be present during the change project
👍 👍
Stage 2: The changing stage
Review & celebration
▶️
- Lead & control: create new habits
Stage 3: refreezing = habit
3. Barriers
- Individual: Stress, fear, competence,...
- Organizational: Finance (ví dụ: công ty thiếu người, lisense, company
culture,...)
4. The company’s culture
- Definition:
+ Attention to detail: How much does the company invest in things
that are not necessary but bring value to the customer?
+ Outcome orientation: how much the company cares about the
result rather than the process
+ People: How much does the company care about individuals'
growth and well-being
+ Team: How much does the company assign work in teams
compared to individual work
+ Aggressiveness: How much competition is there in the company
❓ ❓
+ Risk/Stability: how much the company wants to take
HOW TO KNOW (Company’s culture)
- Stories: company, founder, media, research report, rumors & gossip.
- Rituals: Repeated activity has special meaning
- Artifact & symbols:
+ Artifacts: objects represent the comp
+ Symbols: images, sounds, experiences that represent
- Language: The special vocabulary & grammar the computer uses
5. Culture for change
1. Focus on ends (results) rather than means (methods)
2. Tolerating risk/impractical
3. Tolerate conflict
4. Minimize control
5. Empower (trao quyền)
- Give staff decision-making
- Tell them what they’re doing is important
6. Innovation
- Normal incremental
- Disruptive: innovation changing an industry or daily life
STRATERGY
Outline:
1. Planning
2. Stratergy
3. How to write
4. Career
1. Planning (ưu tiên dọc trước)
2. Stratergy
- Long-term vision mission 3-5 years
- Direction, not detail
→ template for other plans
TYPES: SBU: là 1 cách normal industry nằm trong corporation
NORMAL CORPORATE
- A single industry company (hoạt động - Multi-industry company
độc lập) → To decide which industry to enter
→ A normal company needs a strategy to
become the best industry
Normal strategy = competitive company
Vs
Cooperate
3. How to write a strategy
STEP 1:
- Vision: what the company wants to become (
- Mission: What does the company do to make the vision a reality
(viết mission và mission của 1 hãng nào đó)
STEP 2: Internal and external analysis
External Internal
Corporate PESTLE BCG
Competitive 5 Forces Core competencies and
competitive advantage
Trong trường hợp, cty có nhiều production thì mỗi sản phẩm sẽ là một industry
PESTLE - to identify attractive industries: Political, economic, social, technological, legal, and
environmental.
Boston Consulting Group (BCG): To identify which industries to keep
(ở đây còn 1 cái biểu đồ nữa mốt vẽ lại nha)
5 Forces:
- Competitors
- Future competitors
- Substitute
- Buyer
- Supplier
Core competencies: what you do well
Competitive advantage: what you do better than other people
+ Goals must be SMART
Specific, measurable, achievable, relevant, and timely
+ Goals writing approaches plan in general tradition vs MBO
4. Career (chắc ko cần chép đâu)
START UP
Outline
1. Graduation
2. Start up
- Small biz
- entrepreneur
3. Process
- Analysis
- Feasibility
- Planning
- Raise fund
- Operate
- Exit
4. Master's/study abroad
1. Graduation
- Employment: Full-time, Part-time
- Self-employment: Freelance, Start-up
- Gap year
- Master
2. Start up
- Small business: Sell something that already exists
- Entrepreneurial/venture: Sell something new
3. Process
- Analysis
+ External: PESTLE
⇒ Final unsolved problem
+ Internal: Can I solve it? Can my solution be easily copied?
⇒ A good idea
➤ From work/life experience
Feasibility (quan trọng): how easily can you turn your idea into a company
+ Hơn nhau ở khả năng thực thi
+ Finance + legal: HR, marketing. Manufacturing, logistics
- Legal: grey area: lawyer
- Finance: personal, friends, family, competitions, bank loan, investment,...
Planning: strategy
- Finance projection
- Ownership form
✅
+ Proprietorship, partnership, corporation, limited liability company
Liability (tax): your responsibility to pay
- Proprietorship/partnership: You & the company are one; any damage the company has
will also affect you (only 10% tax on the company)
- Corporation: You & the company are separated; you won’t do any damage to the
company (just one owner). However, with 2 layers of tax, the company & you
- LLC: Also separated, tax 1 time (10% tax)
Raise fund
Operate #1 growth
Exit
- Transfer + sell part or whole (keep some share)
- Liquidate (ethical): Don’t hurt staff
Master and abroad
CONTROLLING
Outline:
1. Performance
2. What? Structure & plan
3. Plan control
4. Tools
1. Performance
✅2 yếu tố: productivity, effectiveness
- Productivity: the amount ò ửok you can do in on certain amount of time with a certain
amount of resources
Work: time/resource
- Effectiveness: quality, goal
2. What?
- Structure: You prevent physical structure from being damaged and prevent non-physical
structure from being violated
- Plan: Every plan has a control process
3. Plan control
E.g.: Trip to VT
1. Feedforward:
- Anticipate (predict) problems
➤ Solution (business term - scenario planning)
- Rehearse
- Dedicated communication channel
- Ask the expert
- Last-minute revision
2. Concurrent
- Management by walking around (MBWA)
- (experiential management)
- Correction
+ Immediate: Fix the problems
+ Basic: Fix the causes of the problems
3. Feedback
🔴
- Report: MBWA, user, expert, media
- Measure performance
Quantitative Qualitative
Satisfaction (1-5) Ask for an opinion specific
5: perfect I want to serve later
4-1: useless
- Compare with goals & standard: xem ảnh trong note.e
4. Tools
- MIS: Management Information System (base.vn)
✅ Software that automatically corrects, analyzes, and presents information
- Balanced scorecard
+ Advantage: gives teamwork experience, more fun, and does not waste time
