(Tiểu luận) final report change management topic mr pham thanh hung and cengroup

VIETNAM GENERAL CONFEDERATION OF LABOR
TON DUC THANG UNIVERSITY
FACULTY OF BUSINESS ADMINISTRATION

FINAL REPORT
CHANGE MANAGEMENT

TOPIC: MR.PHAM THANH HUNG AND CENGROUP
Supervisor name: Mr. Pham Van Phat
Student name: GROUP 02
Class: Group 12
Major: Hospitality Management

Ho Chi Minh City, March 2022

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VIETNAM GENERAL CONFEDERATION OF LABOR
TON DUC THANG UNIVERSITY
FACULTY OF BUSINESS ADMINISTRATION

FINAL REPORT
CHANGE MANAGEMENT

TOPIC: MR.PHAM THANH HUNG AND CENGROUP
Supervisor name: Mr. Pham Van Phat

Student name: GROUP 02
Class: Group 12
Major: Hospitality Management

Ho Chi Minh City, March 2022

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ACKNOWLEDGEMENT
First of all, we would like to thank teacher Mr. Pham Van Phat, who dedicatedly
instructs in the learning process as well as in completing the thesis.
Sincerely thank the Faculty of Business Administration for creating
opportunities and conditions for us to be exposed to Change Management and to
understand more interesting knowledge about that subject.
Due to the limitations of our own knowledge and reasoning abilities, there are
many shortcomings and limitations, we hope the teachers' guidance and contribution to
make our report more complete.
Sincerely thank!

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GROUP EVALUATION FORM

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TEACHER’S COMMENT
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TABLE OF CONTENTS
ACKNOWLEDGEMENT .............................................................................................. 1
LIST OF FIGURES ........................................................................................................ 5
INTRODUCTION .......................................................................................................... 6
CHAPTER 1: OVERVIEW OF CEN GROUP AND MR. PHAM THANH HUNG .... 7
1.1

About CEN GROUP ......................................................................................... 7

1.1.1

History of formation and development ...................................................... 7

1.1.2

Field of activity .......................................................................................... 9

1.1.3

Awards achieved ...................................................................................... 10

1.2

Portrait of Mr. Pham Thanh Hung .................................................................. 10

1.3

Business situation ............................................................................................ 13

1.3.1

Situation & Organizational Structure ....................................................... 13

1.3.2

Business results ........................................................................................ 15

1.3.3

Business goals in 2022 ............................................................................. 15

CHAPTER 2: THE LEADERSHIP STYLE OF MR. PHAM THANH HUNG ......... 16
2.1. Analysis of the success of Cen Group and the application of Mr. Pham Thanh
Hung's Collaborative Leadership style, what are the advantages and disadvantages?
16
2.1.1

Factors: ..................................................................................................... 16

2.1.2

Advantages: .............................................................................................. 18

2.1.3

Disadvantages........................................................................................... 18

2.2. Advantages and disadvantages of applying Collaborative Leadership style to
employees. ................................................................................................................ 18
2.2.1

Advantages ............................................................................................... 19

2.2.2

Disadvantages........................................................................................... 19

2.3. Advantages and disadvantages of applying Collaborative Leadership style to

customers/partners. ................................................................................................... 20
2.3.1

Advantages ............................................................................................... 21

2.3.2

Disadvantages........................................................................................... 22

CHAPTER 3: RECOMMENDATIONS AND LESSONS LEARNED FROM THE
RESEARCH TOPIC ..................................................................................................... 23
3.1

The advantages should be promoted ............................................................... 23

3.2

Limitations that need to be overcome ............................................................. 23

3.3

Lessons have learned ...................................................................................... 25

CONCLUSION ............................................................................................................ 26
REFERENCES ............................................................................................................. 27
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LIST OF FIGURES
Figure 1.1.1 Cen Group Ecosystem ................................................................................ 9
Figure 1.3.1 Organization Structure ............................................................................. 13
Figure 1.3.2 Corporate Structure .................................................................................. 14

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INTRODUCTION
Shark Hung's full name is Pham Thanh Hung, born in 1972 in Hanoi, he is one
of the famous investors in Vietnam through the Shark Tank program and also one of
the most inspirational people in the business industry. Currently, he is the chairman of
the century-old real estate development and joint stock company CENINVEST and the
vice chairman of the board of directors of CEN Group. Shark Hung is a very decisive
businessman, with sharp arguments along with rich and in-depth knowledge in many
fields such as real estate, Information Technology, science and engineering...
Regarding his education, he graduated from Hanoi University of Science and
Technology majoring in Metallurgical Mechanical Engineering, in addition, he also
holds a Bachelor's degree in English from the University of Foreign Languages Vietnam National University, Hanoi. with a Master of Business Administration (MBA)
from the School of Business Administration, Asian Institute of Technology, Thailand.

About his field of operation, Shark Hung is known as one of the "tycoons" in the
field of Real Estate and Startup Investment. Although he is the only "Shark" whose
starting point is a technical major, he has a predestined relationship with business and
in addition, he also participates in training programs in many different fields such as
Quality management, Productivity management, Internship training... in many
countries around the world such as the United States, Japan, Germany, the
Netherlands...
Talking about his personality, Shark Hung is often commented that he is an
elegant, sophisticated person, has a good sense of humor and especially looks quite
attractive to women, but he is a very delicate and profound person with a clean private
life. With his great personality and ability, he has a huge amount of fans, ready to pursue
and learn, especially those who have a passion for Startup. To achieve these successes,
he has for himself a leadership style with extremely intelligent and unique problemsolving methods along with a huge amount of practical knowledge. And that's why we
chose Mr. Pham Thanh Hung as the research topic about his approaches and problem
solving.
This analysis consists of three chapters, the first one is detailed overview of Mr.
Pham Thanh Hung, CEN Group, portrait of Mr. Pham Thanh Hung and business
situation. The second is about in-depth analysis of Mr. Pham Thanh Hung's leadership
style besides analyzing both the pros and cons of his leadership style. Final is
recommendations and to improve the effectiveness of leadership style.

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CHAPTER 1: OVERVIEW OF CEN GROUP AND MR. PHAM THANH
HUNG
1.1 About CEN GROUP
1.1.1
History of formation and development
Cen Group Company was established in 2002 under Decision No. 0103000476
made by Hanoi Department of Planning and Investment. With functions including
investment, rental, brokerage, consulting, exploitation, real estate appraisal.
Along with business activities, Cen Group also promotes social and cultural
activities to connect individuals to build a strong Cen Group. Many cultural activities
are built and developed by the Group so that each Cen family member's 8 hours of work
becomes meaningful and worth living.
Annual cultural programs at Cen Group such as: Cen Awards, Loyal Soldiers,
Miss Bikini, Football Awards, Parents' Day, etc. are not merely an event but also a place
of honor, recognition and gratitude, a playground for each individual to unleash their
creativity after work.
During the development process, Cen Group has been and continues to carry out
its mission with the community through charity programs. In 2016, Cen Group
established the Action Fund for Kindness with the purpose of volunteering for the
society and community and caring and supporting the Group's employees. In November
2020, the Fund officially changed its name to: Fund of Compassionate Hearts.
Up to now, the Compassionate Heart Fund has implemented many programs:
-

Build a charitable house;

-

Building schools;

-

Sponsoring poor children to go to school;

-

Giving scholarships to poor and studious students;

disasters;

Support people to overcome and stabilize their lives after natural

-

Funding heart surgery for poor children;

-

Open the cash machine "Love rice ATM";

In particular, every year, the Hearts of Kindness Foundation cooperates with Cen
Golf (a member company of Cen Group) to organize a golf tournament to raise funds
for charity, calling for many individuals and businesses to join hands to act for
humanity. love with Cen.

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Through a journey spanning nearly 2 decades of persistent and creative activities,
Cen Group has won many prestigious awards.
The brand and reputation are continuously affirmed in the context of difficulties
to prosperity of the real estate industry in Vietnam, helping Cen Group become more
and more loved by customers, trusted partners and companions.
Cen Group aspires to become a leader in the real estate sector through the power
of linking human and financial resources and a network of organizations and individuals
distributing real estate to create "Real Assets - Real Value" for all stakeholders.
Partners, project developers, consumers... create an environment and working space that
is truly "The Land of Dreamers" for employees to be respected and creative.

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Figure 1.1.1 Cen Group Ecosystem
1.1.2
●

Field of activity
Professional secondary real estate distribution and investment;

●

Investment, cooperation in investment and development of real estate;

●

Media consulting and marketing package;

●

Developing a network of Authorized Agents, Mentor real estate experts;

●

General contractor of finishing materials;

●

Provide property valuation services;
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Cen Group has more than 1.5 million loyal customers, nearly 4000 official

employees; thousands of collaborators; dozens of member companies with offices
across the country, serving the needs of investors, partners and customers to the fullest.
At present, the group has also opened up many different fields such as technology, golf,
fashion, health, agriculture... Especially, Cen Group is also a pioneer in supporting the
community. Started with a series of different projects.
Typical start-up projects that Cen Group invests in are as follows:
●

Fastee online golf course booking application.

●

Mopo smart battery.

●

General real estate investment platform Revex.

●
This is a new step of Cen Group to keep up with the development trend
of multi-industry corporations in the world. Cen Group wants startups, especially in the
technology field in Vietnam, to have the opportunity to access:
●

Investment funds

●

Support in product development and market expansion

●
Have access to many large investment funds in the world to deploy
products domestically and gradually expand to the region.
1.1.3
Awards achieved
●
Certificate of merit from state agencies for achievements in contributing
to the state budget in 2008.
●
Gold Award for Valuation of Typical Real Estate Exchange 2009 at
Vietnam International Real Estate Exhibition 2009 by Vietnam Real Estate Association.
●
ISO 9001:2000 certificate, dated September 30, 2008 by Guardian
Independent Certification Ltd (www.gicg.co.uk) for its excellent track record in
applying management systems according to standards international standards and
regulations in production and business activities.
●
Gold Award for Typical Real Estate Exchange 2009, at the Vietnam
International Real Estate Exhibition 2009 awarded by the Vietnam Real Estate
Association.
●

National Famous Brand Award 2010,…

1.2 Portrait of Mr. Pham Thanh Hung
Mr.Pham Thanh Hung was born on January 1, 1972, living and working in
Hanoi. He is the chairman of the joint stock company and real estate development
CENINVEST century, concurrently the Vice Chairman of the CEN Board of Directors.
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Over the years participating in Shark Tank Vietnam, he is a very sure person in
choosing a business to invest in, he rarely invests alone, but often invests with other
Sharks. Shark is a person with a lot of in-depth knowledge in fields such as real estate,
information technology, science and engineering… He is also referred to as the
Encyclopedia. To be as successful as today, Sharp Hung is someone who has undergone
many courses as well as worked in many different jobs:
■

Education

○
Graduated with a bachelor's degree in Casting - Heat Treatment at Hanoi
University of Science and Technology
○
Bachelor of Languages majoring in English at Hanoi University of
Foreign Languages
○
Trained at the School of Business Administration of the Asian Institute of
Technology (Bangkok, Thailand)
○

Master of Business Administration International MBA

○

Majoring in management and technology transfer

○
The most special: Shark Hung is one of the real estate entrepreneurs who
have been trained in Japanese, American, Korean, Indian or Singapore schools in the
fields of organization management and e-commerce.
○

In October 1998: He joined Total Quality Management in the US

○

In May 2005: He joined Quality Productivity Management in Japan

○
In November 2000: He joined the Training and Internship course on clean
production technologies organized by Inwent, CDG and IFF in Germany, France and
the Netherlands.
○
In June 2001: He attended a training course on “E-commerce” in the
United States.
○
In August 2001: He participated in the training course “Six Sigma
Training and Concepts to Improve Productivity” in India.
○
From 2002 to present: He participated in many trainings on Knowledge
Management and visited real estate markets in Asian countries such as China, Hong
Kong, Macau and Taiwan...

■

Work

○
In 1996 - 1997, Shark Hung was in charge of the service quality system
of the Marketing department of TOYOTA Motor Vietnam.
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○
1997 - 2004: Holding the position of strategic development director, sales
manager, assistant director of Vietnam productivity center.
○
2004 - 2005: Holding the position of deputy director of Son Tra Joint
Stock Company (real estate business).
○
2005 - 2008: Holding the position of Chairman of EPIC Investment and
Economic Consulting Joint Stock Company. – 2008: General Director of Hoang Quan
Hanoi Valuation Joint Stock Company.
○

The big positions Shark Hung has been doing.

○

Vice Chairman of the Board of Directors of CEN GROUP

○
General Director - Century Valuation Joint Stock Company
(CENVALUE) Chairman of the Board of Directors - New Star Media and
Entertainment Joint Stock Company (Program production & Exclusive exploitation of
advertisements on VOV channel) Traffic)
○
PLUS)

President, Century Real Estate Value-Added Joint Stock Company (CEN

○
Chairman, Century Real Estate Development and Investment Joint Stock
Company – CEN INVEST.

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1.3 Business situation
1.3.1
Situation & Organizational Structure

Figure 1.3.1 Organization Structure

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Figure 1.3.2 Corporate Structure
The staff at Cen Group is very strong and experienced. All members meet the
requirements of professional qualifications (suitable for each job position), have a sense
of responsibility, professional ethics and high discipline. The management team is
people of great stature in thinking, experienced in the market and dedicated to the
overall development of the business, society and community. The management team is
strong brave people; dare to face challenges and have good management capacity. And
finally, the staff is young people full of ambition and desire; confident; Dynamic and
wholehearted with work, with customers. At Cen Group, personnel will always be
facilitated to develop professional capacity, be recognized and be sent opportunities for
promotion, hold important positions.
On February 24, 2022, Cen Group held a ceremony to award the decision to
appoint personnel for more than 100 managers in both B.O and business blocks to
prepare for new projects in 2022.

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1.3.2
Business results
Century Real Estate Joint Stock Company (Cen Land, Hose: CRE) has just
announced its consolidated financial statements for 2021 with outstanding business
results. Accordingly, Cenland recorded business results in 2021 with full-year net
revenue of VND 5,597.58 billion (up 164.3% compared to 2020), reaching 112% of the
set plan. This is the highest result since the establishment of the company and is the
leader in real estate service companies (real estate) in Vietnam.
Profit after corporate income tax also recorded a new record of 450.5 billion
VND (up more than 50% compared to 2020), completing 110.4% of the whole year
plan. Profit after tax of parent company reached 457.98 billion dong. Basic earnings per
share reached 3,670 VND.
Total assets also recorded a stronger growth of 64% to 6,270 billion in the
context that the company is promoting secondary investment activities. In addition to
sales activities for more than 100 real estate projects across the country with a total
transaction value of more than 48,000 billion VND, Cen Land also expands investment
activities in new projects such as: Louis City Hoang Mai, Hinode Royal Park, C-Sky
View, Trinity Tower, hotel and service project along the southeast coast of Tuan Chau
Island, .... In addition, Cen Land has signed with many other partners to become the
strategic distributor of the project, such as Happy One - Central, Green Villas Urban
Area, Kien Hung Luxury, Sapa Jade Hill, Garden King Resort & Villas,…
Recognizing the successes in 2021, Cen Land has won many great awards: Top
10 typical enterprises with happy human resources; Top 50 most effective business
companies in Vietnam; Top 5 technology units that best support the real estate

transaction market in 2021; Top 10 prestigious Vietnamese real estate brokerage and
consulting companies in 2021; Top 10 best real estate trading floors in 2021; Top 100
Vietnamese Gold Stars in 2021;…
1.3.3
Business goals in 2022
On January 10, 2022, Century Real Estate Joint Stock Company (Cen Land,
HOSE: CRE) has just held an Extraordinary General Meeting of Shareholders 2022. At
this meeting, many important decisions were approved by shareholders.
Increasing charter capital to more than 4,637 billion VND along with a revenue
target of 10,000 billion VND, even higher are Cen Land's big ambitions in 2022.
Chairman of Cen Group is confident with a revenue of 10,000 billion VND, if the
market is good, can reach higher, at 12,000 - 14,000 billion VND. “Even if the market
freezes, Cen Land has no problem. Cen Land has prepared quite well, and sees the
market like that”, affirmed the Chairman of Cen Land.

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CHAPTER 2: THE LEADERSHIP STYLE OF MR. PHAM THANH HUNG
2.1.
Analysis of the success of Cen Group and the application of Mr. Pham
Thanh Hung's Collaborative Leadership style, what are the advantages and
disadvantages?
2.1.1

Factors:
●
Creates an inspiring vision of the future (Strategy)
The vice president of Cen Group, Shark Hung himself also emphasized the
meaning of clearly defining goals. He said: "In making a business plan, we should know
what our goals are, what we want. Do we want a lot of money? Do we want to be
famous? Or dominate the market? Want a peaceful life? All those goals, we have to
know. So the goal has to sit down and clarify. We don't care about resources when we
set goals.
For the goal, it should be carefully considered, selected, and unchanged for some
time. As for how to do it, we have to think and find ways to achieve that goal. The
means, the path, the companions to reach that goal are always subject to change, always
have a back-up plan.
Quality makes a difference - 2014 is considered a successful year for STDA Real
Estate Project Supermarket System with a series of large projects successfully
distributed and enthusiastically received by customers. His company only acts
following the slogan "Real Assets - Real Value." STDA's criteria are that quality and
trust come first. The company proves by work, actions, and specific products, not just
PR and promotion. In addition, one of the factors that helped STDA overcome the real
estate market crisis was the solidarity and commitment of all STDA staff.
●

Motivates and inspires people to engage with that vision (Psychology)

According to Mr. Pham Thanh Hung, one of the most challenging tasks for
leaders is to find personnel. Because finding managers and employees who are excellent
at professional knowledge, not afraid of difficulties, dare to be responsible, and have
ethics, understand the strategies, vision, company culture, etc... is very important and
difficult.
STDA also gives the spiritual life of employees utmost attention and care by

organizing team-building activities, visits, and annual vacations to strengthen
employees' energy after each year's labor journey. Time to create more connections and
cohesion in the collective.
●

Manages delivery of the vision (Project Management)

Sharing about the word "Danger - Risk" - the theme of the program, Mr. Hung
said that "danger" is like the black sky, very vast, and "change" is like a bright star in
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the sky. "The small, fragile opportunity lies in the middle of the immense danger that
people feel burdened," the businessman described.
"We went through at least three economic crises, from 1997, 1998 to 2000, 2001.
The second crisis started from 2008 to 2012. Now is the third crisis. We are businesses
that have grown up from the crisis," said the Vice Chairman of Cen Group.
According to the businessman, an essential thing in a crisis is to practice "injury
resistance" - the ability to endure damage from outside.
There was once a startup Mr. Hung poured investment capital on television. But
when it comes to work, things are entirely different from what they say. They do not
accumulate capital, but they also have a lot of debt margin. Despite being poured capital,
this business continuously reported losses in two years of operation, and the two sides
ended their cooperation.

After this lesson, Mr. Hung changed his investment strategy, in which he reduced
the investment amount and increased the value of the commitment. The two parties
must have more commitment and interaction to disburse, and the disbursement method
will also be more optimal. It is not giving money directly to the startup but disbursing
funds to the platforms around the startup environment for partners to develop.
This position said that his investment "taste" needs to have three qualities:
honesty, determination, and management capacity. He values these factors more than
ideas, technology, and product formation.
●
Coaches and builds a team so that it is more effective at achieving the
vision (Coaching)
Mr. Pham Thanh Hung often conducts leadership in a "coaching" style. "Let’s
try it" used to help everyone grow towards the future, will give employees challenging
tasks stimulating their creativity. At STDA, everyone does all the work, not everything;
each individual and team strives to contribute to the sustainable development of the
enterprise.
With his position, he must also build a team of employees dedicated to the work,
have a spirit of cooperation, and for the common goal. To achieve that, he has prioritized
training and staff training to create a team of employees who know how to do the job.
Another important job of a good leader is knowing how to delegate work. If an
employee makes a mistake, he will create conditions for the employee to correct and
correct the mistake. When evaluating employees, he evaluates based on capacity and
work results.

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2.1.2
Advantages:
●
Reducing work, Shark Hung needs to focus on building goals, helping
the company grow.
By fostering cohesion and inclusion, team members feel more essential and
know what they have to do to achieve the company's common goals.
●

Be more creative in developing business activities

More experiences and opinions mean more input into the decision-making
process. From there, the management level in particular and the entire team, in general,
can consider and develop a more comprehensive and objective action plan.
●

Easily manage, deploy new and challenging plans

The annual staff training helps CenGroup quickly implement new plans with
high-quality staff with professional skills, a sense of responsibility, and an excellent
corporate culture. Build a positive and healthy corporate culture, increase commitment,
and close cooperation among team members.
2.1.3
●

Disadvantages
It takes a long time to everyone connect.

For employees to understand the corporate culture and the common purpose,
managers need a lot of time to share and encourage employees to try to learn and
develop themselves constantly.
●

Difficulty in finding personnel

The collaborative leadership style encourages mentoring. One of the problems
with mentoring is that it naturally creates a leader in the relationship. The person with
the most experience assumes the leadership role. Some mentors may feel like their
experience is even better than that of the leaders, which will spur them to take over the
team at the right time. The leader must create dual mentoring relationships to mitigate
this problem where each person brings something unique to the project.
2.2.
Advantages and disadvantages of applying Collaborative Leadership
style to employees.
The collaborative leadership style is defined by its balanced motivations. The
leader uses this style to create value in everything he does. That means he is always
trying to influence or motivate employees to make the greatest impact possible.
This is also a leadership style that features mentorship as a top priority. By
working directly with employees, the leader can impart his knowledge, skills, and
wisdom to his employees. According to Cen Group “Cen Group is often proud that this
place has teachers, who are also leaders who are conscientious, capable, but also very
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close and simple. Every employee at Cen Group is inspired by the Chairman, is
recommended to the Board of Directors, is respected and empowered in many things.
And at Cen Group, there are leaders who are considered great "Teachers", not only
guiding in their work but also helping them choose which path to take, leading and
developing together”. Here are some benefits and downsides of adopting this
collaborative leadership style for employees.
2.2.1

Advantages
●
There is balance brought to every decision

This leadership style allows every employee's point of view to be heard, while
the leader retains the authority to make his own decisions. Businesses are encouraged
with this leadership style as it requires each team member to maintain an open mind.
Some employees may be adamant about their own opinions, but that determination is
balanced by the willingness of others to find common ground. This process also works
to reduce unconscious biases commonly found in the workplace.
●

It improves employee morale.

This leadership style can convey to some experienced workers that their input is
not appreciated. However, for most people, the ability to learn from each other, work
together, and solve problems together makes for an engaging workplace. It's a natural
trust-building process because everyone is working toward the overall success of the
business. As that trust continues to grow, employee morale continues to improve, which

leads to business success.
●

Collaborative leadership boosts creativity of employees

Instead of trying to suppress innovation and creativity, the leader demands its
presence. All employees are encouraged to tap into their creative resources to complete
team and organizational projects as a whole. The leader does not fear that one day
someone may take his place. Instead, he invites challenges and encourages employees
to face them. New ideas push people forward and that's what this leadership style
delivers.
2.2.2

Disadvantages
●
It creates ambiguous roles.

Leaders must divide tasks and responsibilities clearly and closely for employees
to follow. Without clarity, it can lead to an employee not knowing his or her role at
work. This problem can become a problem that leads to chaos in the workflow.
●

Creative thinking can become stale

Creative thinking can lead to the creation of innovative products and services
within the organization. However, this cannot arise when all team members are united
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on all fronts. Leaders should encourage employees to have healthy conflicts and
discussions for creativity to flourish.
●

Responsibility might not be taken for mistakes

This leadership style allows the team to work as a unit and face challenges
together. However, when a single individual makes a mistake and leads to problems for
the entire team, it can lead to deep-rooted grievances and create a high probability of
future conflicts.
2.3.
Advantages and disadvantages of applying Collaborative Leadership
style to customers/partners.
Collaborative leadership is a trend that fosters a close bond between managers,
employees, and partners to bring a business model that requires a more agile, and
inclusive approach to accomplishing goals. The difference when applying this
leadership style to partners is that collaboration requires the positive contribution of
every employee, harnessing the diversity of each person to transform into creative
strength and inspiring them to create valuable things. Leaders are expected to engage
teams and organizations with a vision to lead the implementation and achievement of
the business objectives with collaborative units. From the perspective of a business that
is receiving foreign capital investment, Shark Hung said that there are points that need
to be studied carefully before agreeing to receive capital.
The first is to carefully find out when signing the contract. The negotiation
process between the two businesses is complex and often lengthy because foreign funds

are financial investors. The terms are given based on international practices, past
business results and predicted figures set by the enterprise. In the Shark Tank Vietnam
program, after negotiating an overview of the project and committing to the investment
there will be a due diligence process, meaning that the funds or ‘sharks’ have the right
to terminate the investment if the information given by the business or startup is
incorrect.
The goal of the funds is to ensure the safety of investment capital, so strict and
detailed terms will be set to ensure transparent control of the business, avoiding price
transfers or other governance issues, even force majeure cases are also clearly defined.
All this is for investors to accept the price offered by the business and work together for
a long time. In addition, businesses should not promise what is beyond the capacity of
their business or decide to sign contracts but do not understand the terms and budget,
which not only leads to losses for the company but also loses the brand image. For
example, committing to an Internal Rate of Return (IRR) of up to 22 percent is
extremely risky compared to the industry average. According to Shark Hung, the
acceptable Internal Rate of Return levels range from 12 to 15 percent.

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The second is the business’s negotiating skills. For example, CEN Land, when
negotiating with funds, requires one year to review the results instead of every six
months. According to Shark Hung, six months is too short a time to apply measures to
compensate investors for losses when a business is trying to create outstanding value.

In the negotiation process, all must be calculated and agreed before deciding to
cooperate together, especially the enterprise must also consider the settlement of
compensation with money, shares or other options.
The third is that when participating in extensive international integration,
managers must take responsibility for what has been signed, although it may lose due
to lack of qualifications. With problems caused by unqualified leaders leading to losses,
it is impossible to ask for help from the company. Instead, managers can foster their
own knowledge or hire a facilitator with their field of shortcomings. Thus, Shark Hung’s
company often signs bilingual documents but the Vietnamese version is the preferred
version to decide when disagreements occur.
2.3.1

Advantages
●
Information is shared and transparent

Openness in communication is a way to create trust not only with employees in
the company but also with business partners. One of the ways to increase long-term
collaboration is to build clear information, and shared terms. From there, it is easy to
see that businesses sharing a lot of information will have a high probability to come up
with many ideas for the project, many methods to solve the most optimal problem not
only to meet the needs of partners but also not to affect the value of the company.
●

Mutually beneficial results

Win-win is the principle of negotiation to create a favorable environment for
cooperation for the purpose of seeking mutual benefits. Besides, when solving
problems, the company both solves the partner’s problem and creates a victory for itself.
Collaborative leadership is key to achieving the harmony of all members’ opinions

when participating in negotiations is heard and is an important factor for the success of
the business.
●

Encourage innovation

Innovation in the business environment will promote a variety of ideas and
mindsets to solve problems in a way that is consistent with reality. Instead of intervening
and giving a personal opinion from the beginning, the leader only briefly introduces the
project, then listens to the opinions of employees and partners to collect as many good
ideas. If from the beginning the leader gives an opinion or direction, people will align,
which will shut down the conversation and the flow of ideas, limiting the ability to

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exploit the intellect. Thus, innovation will create a friendly working atmosphere, and
oriented for rapid, and sustainable development.
2.3.2

Disadvantages
●
Conflict of working style

Besides the aspect of collaborative leadership style is to encourage the
development of each individual to have many directions of development in the work,
this is also the negative side of this style. In a project, it will bring together not only the
employees of the company but also the partner’ members, so there may be conflicts in
the working style of the individual. This leads to hindering the progress of completing
the work according to the timeline and the entire staff will find it difficult to fully access
the tasks.
Besides, collaborative leadership allows people to give opinions, so there will be
some members who are trying to become leaders and are not willing to step back to do
the necessary things to get the job done well. As a result, this can cause stress to the
remaining members and affect the co-working environment of the collaborative team.
●

Lack of trust among members

Trust is one of the most important factors when people work together. However,
because the work is collaborative, one member being late or not completing the work
can negatively affect the work of the entire team. It can also lead to frustration, reduced
work productivity, and lack of trust not only with the company’s employees but also
with partners.

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CHAPTER 3: RECOMMENDATIONS AND LESSONS LEARNED FROM
THE RESEARCH TOPIC
3.1 The advantages should be promoted
To receive the success like today, we cannot help but mention the ingenious
leadership styles of Cen Group's vice chairman - Mr. Pham Thanh Hung. Understand
and take advantage of the strengths of this leadership method and also gradually find
ways to limit and overcome its weaknesses. Therefore, in order for this leadership
method to become more complete and more effective, we need to increasingly promote
its inherent advantages such as:




Encourage employee creativity
The decision-making power rests with the employee
Little intervention from superiors

It can be said that these are the strengths that need to be developed and
maintained in this leadership approach. Leaders do not interfere too much in the
working process of their employees, but instead leaders are always ready to stand
behind to support and supervise closely, delegating full decision-making authority to
their employees. This leadership style helps employees to unleash their full creativity
and potential, not being restrained by rules, employees freely share their opinions and
at the same time learn how to express themselves, accept and listen to the opinions of
others. At the same time, creating a chance for employees to have the opportunity to
learn from each other in order to develop their potential.
For Shark Hung, he is not afraid to try new things, accept challenges and is ready
to face risks and failures. He constantly promotes and creates conditions for his
employees to fully develop their capabilities, ready to support and help if necessary. In
addition, he is a very “generous” person, for potential employees, he is not afraid to

invest and reward them generously to boost their morale, but also for those who make
mistakes, he is willing to give them the opportunity to correct them.
With the above advantages, the capacity and efficiency of both employees and
managers will be enhanced, thereby attracting and inspiring more employees. From the
development of increasingly abundant human resources, businesses will be more and
more innovative and developed with newly discovered talents. This is a huge advantage
that brings a lot of benefits to businesses, which need to be promoted and improved and
enhanced regularly.
3.2

Limitations that need to be overcome
However, with any leadership style, there are always good sides and
disadvantages that need to be overcome. The drawbacks of shark Hung's leadership
style have been analyzed in detail above, so we know the seriousness of those
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