Proactively planning an effective business strategy

VCN - According to Dr. Mac Quoc Anh, Vice President and General Secretary of Hanoi Association of Small and Medium Enterprises, Director of the Institute of Economics and Business Development, in the current context, the business community, especially small and medium businesses, needs the involvement of the authorities, along with the self-improvement efforts of the enterprises themselves to improve their competitiveness.
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Proactively planning an effective business strategy
Dr. Mac Quoc Anh

In the current period of economic fluctuations and difficulties, in your opinion, what support and solutions does the business community need from the management agency?

Many policies to support businesses have been implemented such as policies on exemption, reduction and extension of tax and fee payment deadlines; lending interest rate support; support credit loans to priority subjects.

However, the business community, especially small and micro enterprises still need support from the State for businesses to continue stably developing production and business.

First of all, it is necessary to continue to create a favorable business and production environment. Relevant agencies need to strengthen the reform of enterprise registration procedures, implement the "single window" mechanism in business registration to create favorable conditions for enterprises to enter the market early and reduce the number of unnecessary costs for the business. At the same time, the management agencies also need to continue administrative reform in tax payment procedures and processes and the operation of credit institutions.

In addition, in my opinion, markets in finance, currency, securities, real estate, science, technology and labor market need to be developed synchronously, helping businesses easily access input resources as well as solving output problems.

Regarding access to capital, in fact, SMEs access capital from many different sources, but accessing capital from credit institutions is still the main and important channel for this business sector. Therefore, in order to remove difficulties, the Government needs to strengthen support in providing information, operation situation and the ability of enterprises to pay; thereby encouraging credit institutions to link up, creating a data system on small and medium-sized enterprises as well as making transparent the necessary criteria for credit access for small and medium-sized enterprises.

Along with the support from the State, how should businesses proactively implement solutions?

From the above solutions of the State, businesses must actively approach and benefit from the above policies. Specifically, enterprises must improve their organizational structure to adapt to the conditions of integration, enhance professional qualifications of human resources, and raise awareness of the role of science and technology in science and technology in order to enhance the competitiveness of enterprises.

In addition, enterprises need to promote specialization and actively participate in global processing chains to improve management skills as well as technology application capabilities. Enterprises also need to focus on building corporate brands to attract external resources such as capital, technology, and human resources as well as easier to attract partners, and expand markets to promote the competitiveness of enterprises.

Moreover, in the current context, joint ventures and associations in production and business activities play an important role. Accordingly, it is necessary to correctly identify the strengths and weaknesses of the enterprise, and to determine the correct forms and methods of joint venture and association to promote the effectiveness of joint ventures and associations.

In the context that our country's main export markets are facing many difficulties and declines, what recommendations do you have for businesses to overcome and develop?

Regarding the development of trade, along with difficulties from the export market due to the influence of global economic fluctuations as well as financial and human limitations, it is difficult for small and medium enterprises to conduct market research and trade promotion by themselves, so the State should have measures and policies to provide market information and trade promotion.

In addition, industry associations also play a very important role, helping businesses build linkages, joint ventures and cooperation in the production and consumption of products as well as supporting business training from human resources to skills in marketing, import and export.

However, businesses must be very proactive in the current situation because the fluctuations of the market are non-stop. Enterprises need to form and build a marketing department with high professional qualifications, and experience in market investigation and forecasting to help business owners plan strategies effectively.

By Hương Diu/Bui Diep

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