More than 100 domestic experts, scientists and businesses discussed many solutions to promote sustainable double-digit economic growth for Vietnam.
On October 25, the University of Economics - Vietnam National University, Hanoi organized an international conference with the theme "business administration with the goal of sustainable double-digit economic growth in Vietnam" gathering more than 100 experts, scientists, policymakers and the domestic and foreign business community.
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Speaking at the Workshop, Associate Professor, Dr. Hoang Khac Lich - Member of the Party Executive Committee, Vice Principal of the University of Economics, Vietnam National University, Hanoi, raised the problem that in the context of globalization and the 4.0 Industrial Revolution, the traditional growth model based on low-cost capital and labor has reached its limit.
"C need to calculate now no longer be "how to get enough resources," but "how to manage that resource most effectively?". It is the shortage of modern business governance capacity (BBS) that is gradually becoming the biggest internal "bottleneck" that hinders the breakthrough of businesses and the economy" - Vice Principal of the University of Economics, Vietnam National University, Hanoi stated.
Sharing at the workshop, Professor.Gary L.Frankwick - Honorary Professor of Marketing, University of Texas, USA - said: "In businesses, marketing plays a key role in promoting sustainable economic growth by focusing on both quantity and quality".
Prof. Gary L. practicewick also mentioned a number of core marketing strategies to achieve sustainable growth such as: Marketing 4.0, combining traditional methods and digital to enhance customer experience; Data-based marketing, using customer awareness to build effective strategies;...
Emphasizing the role of educational institutions and the academic world in the breakthrough growth process, Dr. Bradley A. Corbett, Founder of myENGLishGYM, Canada said: "As Vietnam prepares to enter a period of remarkable economic growth, universities and the academic world can act as a trusted advisor and companion for managers in the government and businesses."
In particular, the academic world can invest heavily in researching and understanding domestic and international models, in order to flexibly adjust and apply them to solve modern governance and operation problems.
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Pointing out 6 ways to help educational institutions contribute to promoting sustainable growth goals, Dr. Bradley A. Corbett stated: "First, business strategy. This is a way to support strategic planning and policy making based on data and scientific research. In Vietnam, the policy is mainly based on the field of education and labor market planning - where academic research is used to orient skills development and human resource training in line with the actual needs of the economy. In addition, creating a bridge between the government and businesses to connect the public and private sectors to ensure that policies are built on practical evidence and are highly feasible.
Second, human resource governance. Training, skills development and building a team of high-quality human resources to meet the needs of the labor market.
Third, innovation and knowledge transfer. This proposal aims to promote research, application of new technologies and transfer of knowledge from universities to businesses.
Fourth, connecting regions and communities contributes to strengthening cooperation between academia, businesses and localities for sustainable development.
Fifth, international thinking and global cooperation support the expansion of research cooperation, academic exchanges and sharing of development models with international partners.
Sixth, institutional flexibility contributes to improving the adaptability of academic institutions to rapid changes in the economic and social environment".
The workshop is not only an academic forum, but also a bridge to exchange and create solutions for business governance innovation - from strategic thinking, organizational models to modern operational tools, serving the goal of rapid and sustainable growth and improving national competitiveness.
