MobiFone offers business check-up

MobiFone’s innovative app allows business leaders to run a health check on their firms

According to the Agency for Business Registration, under the Ministry of Planning and Investment, the number of businesses nationwide that disbanded in the first 11 months of the year totaled 8,468. This statistics may seem alarming, however the figure has actually dropped by 2.23 per cent compared to the same period last year. Looking closely at the dissolved businesses, 93.6 per cent were small-scale enterprises, with the total chartered capital of under VND10 billion ($458,715). Such statistics suggest that large-scale enterprises were generally better organised and managed, whilst boasting a higher qualified labour force and developed production technologies. In comparison, smaller-scale businesses who were not so equipped to cope with a greater business strategy.

This raises the question: what path can lead local businesses to success? What steps can guide them through stiff business competition, to a place where they can create core advantages that will ensure future sustainable development.

Businesses’ self-evaluation of performance

Successful businesses, first and foremost, need to have a clear vision, which can then be translated into a long-term strategy. Once a clear and focused vision has been established, the business itself will know where to go or head to in the future. Their staff, customers, and consequently the general community, will appreciate this transparent message from the business leader regarding the company’s aspirations.

What’s more, a business will run well when it thoroughly comprehends the legal framework associated with its operation. Given a legal system that is developing and fluctuating, such as Vietnam’s, businesses need to ensure that their knowledge and understanding of local laws is up-to-date.

Mastering the above-mentioned elements will help businesses to spot prospects for expansion and potential markets that can extend beyond the country’s borders. Understanding such needs among local businesses, coupled with the skills and knowledge of the local regulatory environment, MobiFone, one of the leading mobile network operators in Vietnam, has recently come up with an application that enables businesses to check up on their business’s health through the Online Business Healthcheck.

The application offers a free online tool at mobibiz.vn, allowing businesses to take the initiative to access their activities and view factors that may affect their business growth, such as vision, finance, market, and customers. Upon receiving businesses’ responses to the online check list, the system will automatically process the information and analyse the data, consequently providing an overview report on the businesses’ health. Developed to base its evaluation on the businesses themselves and their demand for further development, the derived report is practical in a sense that it offer solutions to overcome the businesses’ drawbacks and enhance business performance. The report also compares the position of an enterprise performance with other similar enterprises within the region, concluding the strengths and weaknesses of the businesses based on their peers in the market. The Online Business Healthcheck belongs to the MobiFone Business Master Project, developed by MobiFone, to connect businesses within the local economy with the world economy. The master plan, coupled with many grand networking events, will provide a platform for Vietnamese businesses to connect with leading experts around the world in order to keep up to date with optimal corporate governance trends, as well discover advanced applications in their business models to enhance their performance and results.

Visit mobibiz.vn to take the Online Business Healthcheck

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