REPORT ON BUSINESS ENGLISH 1 4 OF GROUP 4 topic how to become a millionaire

Q&A of Millionaire in the information technology segment and a startup-A person intends to start up the technology business.. Q&A of Millionaire in the food and fast consumption segment

Topic: How to become a millionaire

The lecture: Trần Trung Dũng, MA The ID class: 210000000645

REPORT ON BUSINESS

ENGLISH 1.4 OF GROUP 4

I OVERVIEW OF THE IDEA

II Presentation

1 Introducing the talk show Orientation Of The Youth

2 Q&A of Millionaire in the information technology segment and a startup-A person intends to start up the technology business (Thoa and Thuy Van)

3 Q&A of Millionaire in the food and fast consumption segment and a startup- A person is running a food business but at a loss.( Thu Trang and Thu Van)

4 Q&A of Millionaire in the information technology segment and a startup at the information technology area but have difficulty in operating the business.(Thoa and Huyen)

5 Q&A of Millionaire in the food and fast consumption segment and a startup- A person are intending to start the FMCG industry-fast moving consumer goods ( Thu Trang and Yen)

6 Finishing the talk show

III ASSESSMENTS OF TEAM WORKING

I INTRODUCTION

Our presentation will be performed like a talk show which the guest (2 millionaires) will talk with the participants (4 startups) The millionaires share their opinions and answer questions from 4 startups about the information technology and the food and fast consumption segment

II PRESENTATION

1 Introducing the talk show Orientation Of The Youth

Welcome ladies and gentlemen,

I’m To Loan - the host of Orientation Of The Youth talk show Can you guess what we are going to discuss today? Well, to find the answer let enjoy a video The video you’ve just seen was recorded 5 years ago Do you wonder how they became till now?

Do you agree that you can be rich if you take action like them? Hmm, it seems not sure As we know, nowadays more and more people want to become a millionaire, but to find the right way is still difficult for all of them If you’re not careful and self-aware you may be fallen into lots of cheating organizations or illegal business, which cannot help you enrich or even become an empty-handed person Actually, mentors, who can give you some advice, orient your path in the career, are necessary That is the reason why we invited 2 millionaires to our talk show today Welcome Mrs Thu Trang - the specialist gets many achievements in fast food consumption

MC To Loan

Good afternoon, madam It’s really glad for me to see you - my idol How do you feel when joining our talk show today?

Thu Trang

I’m really excited about the genetic atmosphere here I know all of you guys are ambitious to run your own business successfully by yourselves

MC To Loan

Wow, nice So what do you think about the video that we have referred to at the beginning of this show?

Thu Trang

Of course, it is justified to dare to declare and assert the goal you pursue and no one has the right to stop But it would be meaningless if just words without action

After all, I think everyone should act decisively and step by step to conquer the dream of getting rich instead of dreaming like that

MC To Loan

And the rest guest, who is not less successful than Mrs Trang, is Mrs Thoa - the specialist in information technology industry

Good afternoon, the professional It’s my great honor when having a chance to meet you - the ideal woman So do you want to say something to greet audiences here?

Mrs Thoa

I feel that I am so lucky to be a guest of the program It is honor for me to be here

to share my opinions and take advice for new startup in the information technology area!

MC To Loan

Yeah, and what’s your opinion about the video that we’ve shown at the beginning

of this show?

Mrs Thoa

I can’t agree with Mrs Trang more If I were them, I would pursue my dream till I was successful instead of yelling like them Unless they can reach their targets, they may lose their reputation by themself or even no one will believe in them

MC To Loan

Thank you for your advice Through specialists’ advice, we should remember that you cannot get any targets if you just claim without taking action Now I think everyone can’t have been waiting anymore to ask you the way to solve their problems

So let’s come to the first question from the audience Let's raise your hand to give

us your questions Oh, I see an audience far away You, please!

2 Q&A of Millionaire in the information technology segment and a startup-A person intends to start up the technology business (Thoa and Thuy Van)

Millionaire 1: A millionaire in the information technology segment.

Startup 1: A person intends to start up the technology business.

Thuy Van:

- Good afternoon MC To Loan, Mrs Thoa, Mrs Trang and everyone here Nice to meet you I'm Thuy Van I have graduated for 1 year and currently I intend to start

my business in technology field This is the first time I have set up business so I have a lot of queries That is the reason I attended the conversation today I hope I can listen experience and get some advice from Mrs Thoa

MC To Loan:

- It’s our pleasure! Can you show us your business plans?

Thuy Van:

- I plan to set up a company providing technology equipment such as laptop, smartphone and smartwatch Probably you also know that it needs a large amount

of capital to produce these products The components and machines to manufacture are extremely expensive and there are those I have to import from abroad However, currently, the amount of capital I have can only meet about 80%

of the need I have carried out capital calls but investors are still quite hesitant to invest in a new project So, could you suggest me the ways to raise it?

MC To Loan

Well, it absolutely relates to Mrs Thoa’s field, so Mrs Thoa please give her some advice

Mrs Thoa:

The fact that investors are hesitant to invest in a new project It is not too difficult

to understand because they need to ensure their money being always profitable from the startups To raise investment money, you should have a plan which you execute upon with timelines, milestones and tasks assigned to team members This increases the change of closing your capital raise successfully

MC To Loan

Thank you Mrs Thoa

Thuy Van, Are you satisfied with that answer from the professional? Do you wonder anything?

Thuy Van:

Yeah, I have one more question Would you mind clearing up for me?

Mrs Thoa:

Not at all!

Thuy Van:

The technology field requires workforce with high professional abilities But normally, they want to work in big companies to have many opportunities to develop themselves Therefore, to hire them, I will need to pay a high salary Whereas, the thing every businesses concern about most is profits So, how can I employ high quality workforce without suffering from reducing the profits?

Mrs Thoa:

Hmm, It’s impossible! If you want to have the high quality workforce, you need to pay them high salary to keep them working for you With low salary, they are going to leave your company to apply for a new position in new company With high salary, they will try their best to complete the works you give And you want

to ensure the company’s profit, you have to control and satisfy your employees, it means that you know and understand the things that your employees do and find out their potential to take advantage of the potential for your company, and satisfying it means that you should look after environment to find out what the employees need and try to meet the need From that, they will ensure the profit even make more profit for your company

Thuy Van:

I got it! Thank you very much for sharing today

MC To Loan

So through the conservation between Mrs Thoa and the start up, I think not only the startup but also people who intend to start up should pour their heart to run the business firmly in the first period instead of focusing on their profit

Yeah so move on another one? You - the girl is wearing glasses, please

3.Q&A of Millionaire in the food and fast consumption segment and a startup- A person is running a food business but at a loss (Thu Trang and Thu Van)

Millionaire 2: A millionaire in the food and fast consumption segment.

Startup 3: A person is running a food business but at a loss.

Thu Van:

Hello MC To Loan, Mrs Trang and Mrs Thoa and all the audience here My name is Nguyen Thu Van Currently, I am a director of Thai Hoa Food Limited Company I started a business together with my friends 6 months ago, so this company was founded in my hometown, Hai Phong We had a clear direction to

do business with clean food I know that this is not only a reputable issue, but it also directly affects the health of consumers We built glass buildings that grow the eco-plant food, employed about 300 people to take care of them These plants are grown in a non-polluting environment, strictly comply with the regulations of the agencies on growing conditions and spraying procedures

MC To Loan

This problem seems to be likely to be solved by Mrs Trang - the director of Asia Food and Consumption Joint Stock Company

Thu Trang:

Yeah, thank you I think your clean food walk-through is also very good So, what are your target customers?

Thu Van:

The varieties that we imported are all tropical fruits and vegetables Our target customer is high income Vietnamese customers because our food source has very good quality However, the reality is far from imagined, our food is unmarketable because being too expensive

Thu Trang:

In the fact, to provide a source of clean, high-quality food, the cost must be huge Therefore, the product cost will also be high Most Vietnamese people now have average income, so the number of customers is not large, you should expand your business to international markets, so the profit of the business will also increase

Thu Van:

Moreover, during transport, the poor preservation leads to food spoilage In addition, having difficulties in managing goods, our company suffered heavy losses, even the amount collected was not enough to cover the cost of equipment and machinery Mrs Trang, my biggest dream is to become a millionaire like you You are a great motivator for me to enter the business path Would you give me advice? How to preserve food? How to manage goods well?

Thu Trang:

Wow, thank you Of course, starting a new business will face many difficulties, possibly leading to losses, but it takes time for everything, right? You need perseverance and ceaseless effort, to keep your enthusiasm and determination as now, I believe your business will thrive As far as preservation matters, you should preserve your food by methods such as freezing This is one of the most popular methods available today to preserve most foods while remaining fresh, not spoiled

for days One of the safe methods is vacuuming It also helps fresh foods like vegetables to be preserved, but is more short-term than the freezing method

Thu Van:

I am very happy for your sharing today Thanks for giving me so much advice

Thu Trang:

And most importantly, to become a millionaire in the food industry, you need high determination, clearly defined goals, long-term strategies for the business, fully equipped with knowledge of the field this area

MC To Loan

I see that Mrs Trang completely devote herself to give the audience many helpful solutions It’s so brilliant

Thu Trang

Uh hah, It’s pleasure of mine, I should do that

MC To Loan

The time is running We’ve left just 2 chances for audience here Who’s next?

4 Q&A of Millionaire in the information technology segment and a startup

at the information technology area but have difficulty in operating the business.(Thoa and Huyen)

Startup 2: Another start up at the information technology area but have difficulty in operating the business.

Huyen:

Hi, everyone My name is Huyen I have recently decided to run the phone business However, I have to face with many difficulties as well as challenges that

I haven’t still find out suitable solutions in order to run my company better and make more profits Could you give me some advice for these problems?

MC To Loan

Well, as a successful millionaire in smartphone business along with her valuable experiences in this field, Mrs Thoa will be the best person to help you

Mrs Thoa:

Ok, I am willing to give you some advice So could you tell me more specifically about the challenges you are facing to?

The problem I have to face is finding and keeping the right talent employees

Mrs Thoa:

Oh, yeah Don’t worry about it It is major challenge in any smartphone businesses The leading causes of unfilled vacancies in businesses today are skills gaps and the increasing competition globally for those with highly sought after skills-sets and experiences

Huyen:

I can see it Most businesses face intense competition to identify and engage the right talent That means a lot of companies are vying for the same candidates According to the best of your knowledge, what do we need to do to attract them?

Mrs Thoa:

Invest in a structured and well planned Multi Channel approach to market which will include building your Employer Brand Doing so will give your company massive advantages when it comes to attract candidates To do this successfully ensure that you’re utilizing all the tools available to you in order to broaden your talent pool, including social media

Huyen:

That sounds great Once I’ve hired the perfect candidate, how do I keep them? Especially in today’s fast-paced market, what can we do to foster loyalty among new hires?

Mrs Thoa:

The early stages of your employee’s careers are the most critical Develop effective on boarding programs to acclimate new hires to the company culture Employ existing talent to mentor and train individuals that show potential Finally, make the benefits of working for your business employee-friendly

Huyen:

It means that I should care more about my employees, facilitate their growth as well as create a comfortable atmosphere in the workplace In addition we need to boost their performance and retention rate by sponsoring additional employee education, right?

Mrs Thoa:

Surely, by providing employee incentive programs, you will attract more talent employees that play an important part in your business They are the key that decide to your success or failure

Huyen:

I couldn’t agree with you more It is really good advice for me Thank you for taking the time You’ve been very helpful

MC To Loan

After talking to Mrs Thoa, I believe that Huyen, you will actually define some right ways to solve your problem, won’t you?

And now it’s the last chance for only lucky person Who wants to catch it? Ah, I see a girl over there

5 Q&A of Millionaire in the food and fast consumption segment and a startup- A person are intending to start the FMCG industry-fast moving consumer goods.( Thu Trang and Yen)

Startup 4: A person are intending to start the FMCG industry-fast moving consumer goods.

Yen:

Hello MC To Loan and all of the guests here today

My friends and I are planning a start-up in the FMCG industry We want to start a company called Landy The company has 4 main shareholders, each of us contributes $50000 for capital The first items we have set up in business as instant noodles, soap, fast food, so our target customers are low-income ones When we successfully capital turnover, we will expand our business to add other items and sell them on the online website

Trang:

Why do you choose FMCG products?

Yen:

We chose the FMCG industry because we saw its potential Firstly, society develops fast, people have to work for a living and the demand for using FMCG products is increasing Secondly, these products are essential for busy people who have low and medium-living standards because the prices are not high, suitable for large numbers of workers and students