Establishing a commercial enterprise, the board of directors has determined that they must do something that brings more value to society than just simple buying and selling and making profits.
Is it true that establishing a company is just for making money?
Founded in 2007, our company at that time still carried the heavy mindset of short-term business with a primary focus on profit. We were fortunate to be established during a time when the business environment was still in its infancy and Vietnam had just begun its integration into the global economy by joining the World Trade Organization (WTO) in January 2007, making our endeavors relatively favorable. This was a great opportunity for ambitious young generations like us to showcase our capabilities, embrace challenges, and contribute to the prosperity of the country.
The Keieijuku training program for Vietnamese industrial entrepreneurs is sponsored by JICA (Japan International Cooperation Agency)
We, born in the 70s generation, came into existence after the country's reunification, thus witnessing and experiencing the challenges and hardships during the post-war and centrally planned economic period. The difficulties and backwardness of the nation served as a strong driving force that compelled our generation to strive for education and work to earn a living. It was a powerful motivator for resilient entrepreneurs to pursue their endeavors and leave a mark on their careers.
However, after several years in business, we began to question: Is the goal of entrepreneurs and building a company solely about making money? Is the entrepreneurial spirit solely measured by wealth and success? This significant question lingered without a clear answer after the initial years of fairly successful business and brand-building.
The journey of changing business mindset
There is a saying: "The greatest luck in life is not finding money, nor winning the lottery, but having someone who can lead you to a new high ground." This holds true for us, as we were fortunate to participate in the Keieijuku course designed for leaders of manufacturing businesses, sponsored by JICA.
Mr. Sakai Toshifumi (JICA) delivered a speech at the opening ceremony of the Keieijuku course
After the course, our perception of an entrepreneur's mission and role towards employees changed. We recognized the importance of producing valuable products for society, thereby generating profits for the business. With this new perspective, we embarked on a transformative journey, applying the knowledge we gained to our business. Despite facing both successes and failures in the time that followed, we continued to evolve and adapt.
A delegation from the Japan International Cooperation Agency (JICA) visited the office of CAT VAN LOI Company
The Vietnamese business delegation visited Kyudenko Corporation and Mr. Hashida Koichi, the CEO, shared about the "Mission, Vision, Business Philosophy, and Management Insights" during the visit.
Ms. Kumiko OGAWA, a JICA expert from the Vietnam-Japan Human Resource Cooperation Center (JVCC), visited Cat Van Loi Company
JICA - Japan provided support for On-the-Job Training (OJT) to Cat Van Loi's electrical conduit manufacturing plant
Establishing the commercial enterprise, the board of directors made the determination to do something that brings more value to society than just pure buying and selling for profit.
And so, we decided to establish a mechanical manufacturing plant to support the construction industry's mechanical and electrical (M&E) needs, aiming to replace imported goods. At that time, both our family and friends tried to dissuade us from this intention, as investing in land, workshops, machinery, and equipment would seem better suited for expanding into commercial services or investing in real estate for greater profits.
Over the past nearly 20 years, despite various government policies aimed at developing the supporting industry, the reality remains that the supporting manufacturing sector hasn't developed as anticipated and remains weak. The path of developing the supporting industrial sector has indeed been challenging, and there have been times when we faced difficulties that seemed insurmountable and made us consider giving up.
During times of frustration and uncertainty, I always revisit two books: 'Practical Business Philosophy' by Matsushita Konosuke (Chairman of Panasonic Corporation) and 'A Compass to Fulfillment' by Inamori Kazuo (Chairman of Kyocera Corporation), along with lectures on modern business methodologies from the Monodzukuri production mindset course.
"Every journey begins with the first steps."
The lectures from the course enlightened us on the development path for the company, a path I had spent a long time wandering to find. Successfully learning and applying the wise business philosophy in the Japanese style, dedicating service to society and community responsibilities with real value. This incredible energy has been passed on by us to the Vietnamese business community, management at all levels, and employees within Cat Van Loi Company, all working together to build a community with a 'compassionate' business culture, contributing and serving society.
The productivity and quality improvement project at Cat Van Loi Factory is being implemented by IDCS
The fire of the Monodzukuri production spirit" has ignited in us the realization of dreams and aspirations, which were passed down from our Japanese mentors, into actions that led to the establishment of the first Cat Van Loi Factory (2016) and the second factory (2022). These endeavors contributed to the fulfillment of the "Desire to Replace Imports."
And then came the first batches of exports to markets like Japan, Myanmar, Cambodia, Philippines, Singapore, and successful participation in the global supply chain of the Toshiba Group for various projects across Asia. Our products have been present in numerous industrial projects: Metro Line 1 (Ben Thanh - Suoi Tien), Thai Binh 1 Thermal Power Plant, Van Phong Thermal Power Plant, Long Son Oil Refinery, and the primary supplier for over 20 Japanese contractors in Vietnam.
We have achieved what we are today through a shift in business mindset and a commitment to serving society. As the lyrics of the song by composer Tran Long An, beloved by our generation during our youth, go:
Ai cung chon viec nhe nhang,
Gian kho se danh phan ai?
The article won First Prize in the contest 'Professions in the 4.0 Era' held by the forum 'Building Autonomous Industry' in 2022, organized by Tuoi Tre Newspaper & the Ministry of Industry and Trade
Quote: Tuoitre.vn
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