INTERNSHIP REPORT TIEN VINH TRADING AND INVESTMENT LIMITED COMPANY
TABLES OF CONTENTS
Tien Vinh Trading Investment Limited Company operates mainly in the field of supplying chemical products. With diversified types of chemicals and agilely, professional manner the company always bring satisfaction for customer and stable production for manufacturers, factories and enterprises. With available chemicals in warehouses, professional service, Tien Vinh always satisfies their customers. At the recommendation of the English Faculty of the Thuong Mai University, I had a great opportunity to experience as a trainee position at the office of the Tien Vinh Company. After nearly a month working here (from January 2nd, 2018 to January 29th, 2018), with the help and guidance of dedicated team leaders and staff, I have opportunities to apply the knowledge that I learned in practice, and learn the basic information to complete my internship report. I would like to send my sincere thanks to the teachers in English Faculty Thuong Mai University and the staff of the Tien Vinh Company that helped me to complete this report. I look forward to receiving comments and help from the teacher to complete his report. Hanoi, January 28th, 2018
Student Vi Thi Nguyet
LIST OF ABBREVIATIONS
LIST OF TABLES AND CHARTS
Image 1.1: Logo of Tien Vinh Trading Investment Co., ltd Image 1.2: Some key products of Tien Vinh Trading Investment Co., ltd Diagram 1.1: Some typical partners of Tien Vinh Trading Investment Co., ltd Diagram 1.2: Organizational chart of Tien Vinh Trading Investment Co., ltd Table 1.1: The company’s business result in the period of 2015 – 2017 (VND)
PART 1: OVERVIEW OF TIEN VINH TRADING INVESTMENT LIMITED COMPANY 1.1.
Information about Tien Vinh Trading Investment Limited Company 1.1.1. Formation and development of the company
General introduction about the company Name of company: Công ty TNHH Đầu tư Thương mại Tiến Vinh. Transaction name: Tien Vinh Trading Investment Limited Company. Transaction office: 26/53 Duc Giang, LB, Hanoi. Office address: Cau Chiec, Nhan Hien, Hien Giang, Thuong Tin, Hanoi. Telephone number: 024 226 13555
Image 1.1: Logo of Tien Vinh Trading Investment Co., ltd History of formation and development The company officially came into operation on March 18 th, 2015 with the director Nguyen Thanh Trung. The company was initially 03C9 Nguyen Du, Thuong Tin, 5
Ha Noi. From the year 2017 the company was located at Nhan Hien, Hien Giang, Thuong Tin, Ha Noi. In order to achieve these achievements, from the beginning, the company has identified itself with specific direction and business philosophy as red thread throughout the formation and development of the company. Vision and development orientation - Invest in improving human resources, improving quality and customer service. - Expand the market in breadth and depth in line with the trend of integration. - Focus on developing distribution systems in the country and Southeast Asia. - Ensure sustainable development.
1.1.2. Major business areas The main products The main products of Tien Vinh include various types of chemicals. The chemicals are the raw materials for various manufacturing industries imported from Korea, Singapore, Indonesia, Malaysia, Japan, Taiwan, China, etc. to meet various requirements of customers. Particularly, Environmental treatment chemicals; Chemicals in glass, ceramics; Construction chemicals, metallurgy; Chemical for coatings; Rubber and plastic chemicals; Chemicals in the paper industry; industrial Chemical. Notably, from August 2017, the company added chemicals for fiber industry.
Image 1.2: Some key products of Tien Vinh Trading Investment Co., ltd Market operations and main partners Tien Vinh supplies chemicals to manufacturers, factories and enterprises in all provinces and cities from the North, central provinces to the Southern provinces. Some typical partners of Tien Vinh include Gia Linh Chemical Limited Company, Thuan Phong Manufacturing & Trading Joint Stock Company, Asia Chemical Corporation, Vedan Vietnam Company, Guangdong Guanghua Sci-Tech Limited Company (JHD).
Diagram 1.1: Some typical partners of Tien Vinh Trading Investment Co., ltd
1.1.3. Organizational structure The company’s organizational structure includes four departments.
Diagram 1.2: Organizational chart of Tien Vinh Trading Investment Co., ltd The company has four functional management divisions including: Administration Department, Accounting Department, Sales Department, Import Department. Each department has its own roles, responsibilities and close coordination with other departments to ensure that all tasks are completed easily, quickly and professionally. 1.1.4. Business results of the company in the period of 2015 – 2017 In order to make an overall assessment of the operation efficiency of the company in the period 2015 - 2017, the following business results tables are used as a foundation to evaluate. No
1 Revenue from sales and providing services
Cod e 01
20.389.606.24 16.163.890.79 3.950.476.87 8 6 1
2 The deduction from revenue
3 Net revenue from sales and services (10 = 01 02)
Cost of goods sold
20.389.606.24 16.163.890.79 3.950.476.87 8 6 1
14.182.555.50 3.566.378.81 2 8
5 Gross profit from sales and services (20 = 10 11)
20 2.409.336.015 1.981.335.294 384.098.053
6 Financial income
7 Financial expenses
8 In which: interest expenses
9 Cost of business management
10 Net profit from operations (30 = 20 + 21 - 22 – 24)
11 Other income
12 Other costs
13 Other profits (40 = 31 32)
14 Total profit before tax (50 = 30 + 40)
15 Current enterprise income tax expense
16 Profit after tax (60 = 50 – 51)
Table 1.1: The company’s business result in the period of 2015 – 2017 (VND) 1.2. Information about Import Department Import department is the core department cannot be lack in the company. There are some main responsibilities of import department in the company: 1. Performing transactions, negotiating and signing contracts with suppliers. 2. Completing procedures and documents of import and export of goods. 3. To receive, examine, compare and record import goods with the actual quantity at the border gates in the course of making dossiers of goods clearance. 4. Manage, track orders, contracts. Coordinate with related departments to ensure timely delivery as well as receipt. 5. Carry out the search for suppliers, expand the import sources according to the company strategy. 6. Regularly contact, care and maintain good relationships with customers and suppliers. In order to do well in this job, the requirement for importers and exporters is good in foreign languages. They must be knowledgeable about import and export procedures, planning skills and presentation skills and have a basic understanding of international trade conditions, international payment methods, international transport modes and legal documents on customs declaration.
PART 2: INTRODUCTION TO THE INTERNSHIP PROCESS
2.1. Tasks to be performed during the internship - Search and contact to foreign suppliers via telephone and email to plan your purchase. - Track the status of the order, make sure goods are always available in stock, contact directly with the relevant departments to perform tasks. - Work directly with the sales department to plan the purchase of goods. Sales Department is responsible for contacting and receiving orders from companies, agents in the country. At that time, the sales department staff will work together and deliver orders to the import staff. The importer will contact the suppliers and make a purchase plan. - Type data, information, support the other departments at the request of the supervisor. - Ensure the order complies with contractual agreements, report results to supervisor. - Perform other office tasks as required by the supervisor.
2.2. Difficulties and lessons learned 2.2.1. Difficulties in the practice During my one-month practical internship from 2nd January, 2018 at the import department of Tien Vinh Trading and Investment Limited Company, I had the opportunity to apply the skills and knowledge I have learned and gained certain experiences, useful lessons for myself. In the company, I was instructed, trained and assigned appropriate tasks.
First of all, for adaptation to the work environment, Tien Vinh Trading and Investment Limited Company is a medium-sized company, but regulates strict working regulations and discipline. The company emphasizes corporate culture and professional ethics of employees. During my first week of training, sometimes I was ambiguous about work and slow in dealing with basic assignments such as sending e-mails asking for catalogs, quotations, and ordering. I do not know much English vocabulary in the field of importing, particularly buying chemicals. My vocabulary is not much enough to confidently draft the documents, contracts. Therefore, I always study, ask senior staffs in the department. New employees or trainees, collaborators when starting work in the import department of the company must read the English work-intensive documents such as contracts, vouchers, product catalogs, forms of documents, documents of international regulations on import - export, logistics. This will also put pressure on new staff and trainees if they do not really study hard and improve their knowledge constantly. In communication or working, all staffs need to be really polite, flexible and open with colleagues, bosses and importantly with customers and partners. The staffs of the import department are required to be highly qualified in not only foreign languages but also economic knowledge, import-export, logistics and customs. Staffs work in import department need work directly and constantly with foreign partners, especially suppliers from China, Taiwan, Indonesia, and the US, so they require the high level of English or Chinese. Actually, that was a big challenge for me. I had the opportunity to discuss directly on telephone with partners in English. During the talk, I was unable to fully understand what the partner said and reacted slowly. The cause is mainly due to my limited. For Chinese partners, their English pronunciation is a bit different, that make me confuse, misunderstand their message. Besides, sometimes they use both English and Chinese so I was a bit confused. I have also encountered problems with new terms in chemistry, completely new terms that I had never known before. 12
In addition, the job of purchasing staff requires skills and insights I have not yet mastered. I was embarrassed and made mistakes when drafting letters, documents, contracts and other documents. Besides, while talking to partners, because my English is not good, I do not catch to them, that lead to mistakes.
2.2.2. Lessons learned After the intern period at the company, I got used to the business environment, encountered difficulties, obstacles and learned many lessons for myself. In order to avoid confusion, to adapt to changes when moving from a learning environment to a professional working environment, students must accumulate knowledge and skills right from their school days. Not only focus on learning, students need to improve the living skills, working effectively skills, be flexible. Students should practice early in the company when have the opportunity to do. Finding a part time job is a good way for students to gain practical experiences and skills. There are many companies that are always ready for college students to go to work. In my own opinion, students should make use of the available time to work or participate in community activities, international volunteering, active exchanges, exchanges their living and working experiences. These are activities that every American student is actively involved in so they are very quick, creative and do their job well. Skills they need such as communication skill, organizational and planning skill, teamwork, negotiation skill, and many other skills. In addition, investing in yourself and networking is also important to each student. Confidence is the key to success, professionalism builds trust and working attitude determines whether you will continue to be welcome to work or to split the company. When we go to practice, we are new, we will have many difficulties and challenges so we have to always persevere, learn from the senior staffs. If it is not difficult to observe, learn and apply, it will be difficult to overcome difficulties, difficult to adapt to competitive and disciplined working environment. 13
Requirements for purchasing staff in import department, in addition to English, need to be familiar with import-export knowledge such as INCOTERMS clause, international payment, transport modes, international rules, laws, procedures and documents. Students should spend their time in school to learn, accumulate and constantly practice their English listening, speaking, reading and writing skills. Students need to improve their vocabulary in a variety of field, then when working in a company in any field, students should prepare their own lists of English words and phrases in that area. Regularly update communication patterns as well as new words. Learning the partner’s culture is also important, it helps us to exchange, work and receive good feedback from them. Students who study Business English should also grasp the necessary economic knowledge. Students need to know the flexible use of English, suitable for each partner, customer.
PART 3: PRACTICAL USE OF ENGLISH AT THE TRAINEESHIP
3.1. Describe the actual use of English at the traineeship At the company, English is mainly used in the import department. For the import department, the input staff must have certain qualities and characteristics, of which they cannot lack of foreign language, particularly English. Import staff must be fluent in English and use it as a daily language to communicate and negotiate with foreign partners. English is used in documents, contracts of company and even when exchanging through telephone, e-mail or something else. The import department also supports other departments on documents and activities relate to English. English is used extensively in exchange of Business Correspondence with foreign partners. However, except the import staffs and some of the key staffs in the department, most other departmental staffs have a basic level of English. Sales department use English in communication activities, design and operate the company’s website, tables, posters. One point worth mentioning is the culture of learning English at the company. The company has promoted and organized training sessions to improve English language skills for employees. Naturally, most of the training responsibilities are carried out by the import department. The company organized short training sessions of about fifteen minutes to supplement pronunciation, teach English communication skill for employees in the company. These activities not only help connect employees but also create an effective English learning environment for staffs and help them to improve their English communication skills. Using English effectively in the workplace is also considered as one of the factors that determine the bonus or increase salaries for employees in the company.
3.2. Proposed research issues Being a student study in Business English, I realized that learning a language in general and English in particular is aimed at the most important goal is to communicate fluently in the language. In order to communicate fluently in one language, particularly English, it is necessary to have a combination of linguistic theory and skillful practice in order to use it effectively. Using English fluently means fluent in listening, speaking, reading and writing. In my own opinion, it is necessary to use English fluently to achieve the best effect in all human-to-human interactions worldwide. The fact shows that most countries that do not speak English as their mother tongue are universal English as a second language. For international business, Business English plays an essential and important role, an indispensable role. Our country is facing many difficulties and obstacles when reaching out to the world due to language barriers, particularly English. English is really an effective tool for anyone who wants to reach out to the world. The use of Business English is also a part of professionalism and reflects the size of company when reaching out to the world in today's flat world today. In order to survive and develop, every individual, especially an employee, has a role to contact with foreign partners, and English is an indispensable requirement. In particular, the use of English in Business Correspondence is also very concerned when the communication through email in particular and the internet in general is increasingly used constantly, frequently and widely. In order to get fluent English, each individual must has a plan to improve his or her own English and be disciplined and persistent. It is necessary to improve your English in the direction of Business English regularly and continuously, constantly learning, accumulating as well as practice continuously in practice.
PART 4: PROPOSALS COURSE TOPIC
In spite of the fact that I am a trainee, the company always facilitate me with the best conditions and policies as a new employee-purchasing officer at the import department of the company to help me complete the intern period as well as intern report in the best way. I find that English communication plays an extreme important in business activities, especially in the field of import and export. After the time practicing at the company, I can say that there are a lot of common mistakes made when writing English Business Correspondence in Tien Vinh Trading and Investment Limited Company. While using Business English, it is unavoidable to face difficulties, confusions. Especially when communicating with people in different countries have different cultures. In Business English, Commercial Correspondence is a worthy of being interested in and cultivating. There are many common mistakes that can be made when using English in Business Correspondence, especially for new graduates who are new to English practice, often make many mistakes when using English in Business Correspondence. For business people, works require to use English, it is necessary to use English accurately. Therefore, Business English in general and English in Business Correspondence in particular is worth to be learning and training as well as practicing to be able to conquer and use English effectively.
Tien Vinh Trading Investment Limited Company is one of the companies importing and trading chemicals in Vietnam, supplying mainly chemicals for factories, manufacturers, enterprises. Focusing on building a contingent of managers and technicians who are highly qualified, dynamic and creative, quick to adapt to innovation is the foundation for the company to accomplish its goals. It has the capacity of capital, labor and technology for multi-business activities. During the nearly one month of practicing as a purchasing officer in the import department of the company, the students themselves have had the opportunity to apply the knowledge learned in school to the reality, and learn more. good attitude, morale, methods of work, behavior, communication in the business environment. That valuable and valuable experience has helped him to better shape his future career. Once again, I would like to send my sincere thanks to the teachers in English Faculty - Thuong Mai University and the staff of the Tien Vinh Company that have helped me to complete this report. Hanoi, February 28th, 2018 Student Vi Thi Nguyet
REFERENCES I would like to express my gratitude to the following researches for providing the very useful information sources so that we could complete this study: 1. Financial Report of Tien Vinh Trading and Investment Limited Company. 2. http://tienvinhchem.com/