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VIETNAM NATIONAL UNIVERSITY, HANOI INTERNATIONAL SCHOOL *** GRADUATE INTERNSHIP REPORT INTERNSHIP COMPANY/INSTITUTION: Tan An Company Ltd., Address: 9th Floor, JSC Building 34, Lane 164 Khuat Duy Tien, Thanh Xuan, Hanoi Supervisor: Ms. Hoang Kim Thu Student’s full name: Hoang Thi Van Anh Student’s ID: 11071368 Major: International Business Class: IB2012B Internship Report Hoang Thi Van Anh Hanoi, 11/03/2016 ACKNOWLEDGEMENT I would like to express the deepest appreciation to the Tan An company having created an opportunity for my to work as an internship at the company. Especially many thanks to my mentor, Mr. La Nhat Tan who had helped me so much in communicating with other employees and specific works; to my Head of department, Mr. La Viet Anh who had always been welcome me at work, always enthusiastic to guide me, and provided me documents when needed; to my coworkers, Mr. Truong Manh Linh and Mr. Nguyen Huy Hoang at Export – Import Department, those who had lead me through the internship period with exportimport techniques. I would like to acknowledge extremely the support of my instructor, Ms. Hoang Kim Thu, a lecturer at International School, who always raised my work of writing this report and also inspired me to complete the work. She always devoted all her best to help me to understand what was going on and what I needed to repair. Finally, I would like to show my gratitude to International School having introduced me to Tan An company and help me experience the wonderful and dynamic internship period. Also to my friends, my teammates who have supported me while writing this report. Internship student Hoang Thi Van Anh 2 Internship Report Hoang Thi Van Anh PART 1: MAIN CONTENT INTERNSHIP REPORT 3 Internship Report Hoang Thi Van Anh Table of Contents A. CHAPTER 1: INTERNSHIP COMPANY / INSTITUTION OVERVIEW: TAN AN COMPANY...............................................................................................6 1. General information.......................................................................................6 1.1. Name of the company................................................................................6 1.2. Headquarter and other branches..............................................................6 1.3. Legal representative of the company.........................................................6 1.4. Industry and Activity fields........................................................................6 1.4.1. Exploitation............................................................................................7 1.4.2. Manufacture...........................................................................................7 1.4.3. Business..................................................................................................7 1.4.4. Investment and construction..................................................................8 2. Company’s milestones....................................................................................9 3. Mission, Vision and Core value......................................................................9 4. Operation of the Company...........................................................................10 5. Marketing mix analysis................................................................................12 5.1. Product and Place...................................................................................12 5.2. Customers................................................................................................13 5.3. Promotion.................................................................................................13 B. CHAPTER 2: COMPANY’S BUSINESS ACTIVITIES REPORT............14 1. Financial statement analysis........................................................................14 2. Business activities by functions....................................................................16 Board of Director:...........................................................................................16 Export – Import department:..........................................................................16 Hydroelectric Project department:.................................................................16 Financial and Accounting department:..........................................................16 General Trading department:.........................................................................16 Test and Measurement Equipment department:.............................................17 3. The company’s value chain...........................................................................17 3.1. Exploitation and Importation..................................................................18 3.1.1. Sources of resources.............................................................................18 3.1.2. Standard of importing..........................................................................19 4 Internship Report Hoang Thi Van Anh 3.2. Production................................................................................................19 Ferro Manganese factory:..............................................................................20 Phu Mau hydroelectric plants:.......................................................................20 MDF wood factory:.........................................................................................21 3.3. Distribution..............................................................................................22 3.3.1. Wholesale domestically........................................................................22 3.3.2. Exporting..............................................................................................22 4. Major activity analysis: Exporting Low Carbon Ferro Chrome..................23 4.1. Ore exploitation.......................................................................................23 4.2. Resources procession...............................................................................23 4.3. Exportation..............................................................................................24 Main partners:.................................................................................................24 Exporting execution:.......................................................................................25 C. CHAPTER 3: INTERNSHIP OBJECTIVES, CONTENT OF SPECIFIC WORKS, WORKING METHODS......................................................................27 1. Internship objectives....................................................................................27 2. Assigned tasks at the company: Importing turf grass seeds.........................27 2.1. Finding general information about some kind of turf grass seeds.........27 2.2. Contacting with foreign partners............................................................28 3. Difficulty while implementing assigned tasks...............................................30 D. CHAPTER 4: ACHIEVEMENTS AFTER THE INTERNSHIP PERIOD31 1. Book knowledge and gained practical knowledge........................................31 2. Gained skills.................................................................................................31 3. Gained experiences......................................................................................32 4. Contributing to the company and results......................................................32 REFERENCES...........................................................................................................34 5 Internship Report Hoang Thi Van Anh A. CHAPTER 1: INTERNSHIP COMPANY / INSTITUTION OVERVIEW: TAN AN COMPANY B. General information I. Name of the company Tan An Company Limited was licensed numbering 1714/GP-UP on 10/03/1995 by People’s Committee of Hanoi city. Tax code: 0 1 0 0 3 7 9 7 7 6. II. Headquarter and other branches Tan An’s headquarter located initially on 129B / 11B - group 12A - Thuong Dinh Ward - Dong Da District - Hanoi. Now it moved the headquarter to 9th floor, JSC Building 34, Lane 164 Khuat Duy Tien, Thanh Xuan, Hanoi. The company has broadened both Hanoi and Ho Chi Minh city – the 2 biggest and most developed cities in Vietnam and a small branch in Lao Cai province. The iron factory in Ninh Binh province and a group of small hydroelectric power plants in Van Ban district of Lao Cai province had been started to operate as well. III. Legal representative of the company From the birth of Tan An Company Limited, there are 2 members operated the company with the authority capital of 150,000,000 VND. After 15 years of operating, the company raised its capital up to 32,253,000,000 VND which means 215.02% increasing. At the present, the legal representative of the company is: Mr. Truong The Son Position: General Director. IV. Industry and Activity fields Within 15 years (until 2010), the had gained many achivements and developed itself in infrastructure, work-forces, scale, business activities and management level. By now, there are over 70 business lines, divided mostly into Construction industry and Commercial industry. In this report, there will be subdivided into 4 main activities: 6 Internship Report Hoang Thi Van Anh 1.1.1. Exploitation In order to serve for the manufacturing procedure and exporting raw materials to foreign countries (especially to China), Tan An company registered to exploiting some natural resources legally: - Wood and forestry products; - Coal, peat, iron ore and mental ore; - Sand, stone, gravel, clay. Those resources are used for the manufacturing activities of the company as listed after. 1.1.2. Manufacture Raw materials after being exploited will be used to produce finished goods which are divided into: - Chemical products; - Electronic components, consumer electronic and other machines, measurement equipment; - Batteries and accumulators; - Wooden products. These finished goods will be distributed domestically to subsidiaries and also for exporting purpose. 1.1.3. Business Tan An Company has been doing its business in both domestic and foreign markets. The company imports such products as electrical products and other products which are needed in Vietnamese markets or sometimes re-export to another country. The produced goods or imported goods are wholesaled inbound and exported outbound. - Mineral; 7 Internship Report Hoang Thi Van Anh - Industrial chemical; - Forestry products; - Agricultural products; - Electrical products; - Production materials: equipment, furnaces, geological exploration equipment, machine tools, metallurgical industry materials; - Other products. In addition, there are two researching centers aiming to develop its projects and products: - Projecting center; - Testing measurement equipment center. 1.1.4. Investment and construction Besides above business activities, the company penetrated into investment with the launching of: - Building Phu Mau hydropower plants; - MDF wood and furniture factories; - Iron and Ferro Manganese factories. And the construction of: - Traffic works; - Irrigation; - Civil engineering. The company activates widely in many aspects, especially focuses mostly in manufacturing activities and export – import activities. By producing products by themselves, the company has achieved successfully in exporting Vietnamese 8 Internship Report Hoang Thi Van Anh wooden items like handicraft as a Vietamese traditional product to foreign markets dedicating to the expandsion Vietnamese brand to the world. C. Company’s milestones 25/3/1995: Established in Hanoi Capital. 1998: Tan An Co., Ltd has built a production factory of High Ferro Chrome Carbon in Ninh Binh to supply the nationwide market and completely replace import of such goods from abroad. 2004: Tan An Co., Ltd started building a group of small hydroelectric power plants in Van Ban district of Lao Cai province. 12/2007: Ho Chi Minh branch of Tan An company had been launched. 2008: + Launched Lao Cai branch. + Three small hydroelectric power plants went into operation and activities in accordance with the designed capacity to synchronize into the national grid. + The company has a joint venture with the Vietnam Forestry Corporation to build the MDF wood processing factory with a capacity of 54 thousand tons per year in Yen Thuy district of Hoa Binh province. 2009: The company has a joint venture with a China partner to build the Feromangan (FeMn) producing factory with a capacity of 100 thousand tons per year which is considered as the largest factory in Vietnam now. 2010: Company’s capital raised up to 32,253,000,000 VND; in comparison with the beginning capital, it had increased 215%. D. Mission, Vision and Core value With the motto “Cooperation - Development”, Tan An Company expressed determination to quickly make Tan An Co., Ltd become a powerful company. 9 Internship Report Hoang Thi Van Anh The work of Tan An Company is to import raw materials of chemicals, metallurgical materials, machines and equipments to serve for the domestic industry. E. Operation of the Company Beside headquater at Hanoi city, Tan An has representative office in Ho Chi Minh city and some factories, hydropower plants, warehouses, estate property in other provinces. In order to manage the whole company, Tan An required itself to continous level up its management system. Therefore, the structure must be clear, each department must be in charge of specified works to be easier in solving. The main structure of the whole company (including 2 big branches and other factories) will be illastrated as the map below: Diagram 1: structure of the whole company. Boardof ofDirector Director Board Business Business Planning Planning Department Department HoChi ChiMinh Minh Ho branch branch 10 Export-Import Export-Import Department Department NinhBinh Binh Ninh iron and Ferro iron and Ferro manganese manganese factory factory HoaBinh Binh Hoa MDF wood MDF wood factory factory Financial&& Financial Accounting Accounting Department Department Human Human Resources Resources Department Department LaoCai Cai Lao branch branch LaoCai Cai Lao Hydroelectric Hydroelectric Plants Plants Internship Report Hoang Thi Van Anh Diagram 2: Headquater’s structure – Hanoi Capital. Board of Director General Director: Truong The Son Chairman: La Hong Son Union President Export – Import department Western + USA markets Hydroelectric Project department Financial & Accounting department General Trading department Test & Measurement Equipment department China + Asia markets Diagram 3: Ho Chi Minh’s office structure. Headof ofrepresentative representativeoffice office Head Business Business Planning Planning Department Department 11 Export-Import Export-Import Department Department Financial&& Financial Accounting Accounting Department Department Human Human Resources Resources Department Department Internship Report Hoang Thi Van Anh F. Marketing mix analysis Tan An has both Export and Import activities with the main product lines are wooden finished froducts and natural mental ores and divided clearly into 2 departments that focus on 2 big markets: China and Western countries + USA. I. Product and Place In importing, the main object aiming to is woods while Ferro manganese and handicraft are the targeting commodity for exporting. Table 1: Tan An products and markets. Import - Woods for materials; - Raw materials of chemicals; - Metallurgical materials; - Machines and equipments; - Small hydropower equipments. Export Items - Handicraft items - Ferro Markets USA, Britain, Japan, China and Canada. USA, Japan, Germany. Manganese Tan An Company’s products spread widely from diverse aspects and focused mainly on Construction and Commercial products. Its raw materials of chemicals and metallurgical materials are used for manufacturing constructional devices and materials then export those finished products or being sale inside the country. Its machines and equipments are used for both selling domestically and supporting factories, plants and other properties of Tan An Company. Tan An is the leading Handicraft company in Viet Nam with more than 10 years of experience and always a pioneer in the field of handicraft and now have 3 considerably large specializing in ceramics, bamboo, rattan... Their products are available in more than 10 countries throughout the world such as US, Canada, Japan, China, Taiwan, and Germany. There is a remarkable collection of handicraft products made of many kinds of materials ranging from Bamboo, Rattan, Palm 12 Internship Report Hoang Thi Van Anh Leaf, Sea grass, Jute, Fern, Glass to Ceramic, and Lacquer...All of them are in unique designs. Feromagan – a proof by the strength of natural resources, aiming to exporting to USA, Japan and Germany. It can be seen that USA and Japan are 2 biggest target market of Tan An with the amount of exporting products are highest among listed markets. II. Customers In doing business, firstly, there cannot help to mention about the company’s customers. It is based on different products lines, then the target customers must be different. Normally, Tan An company distributed its products by B2B model the most (Business to Business): - Other companies and manufacturers both in Vietnam and foreign countries: Construction companies, International companies; - Retailers: Electronic shops, home center shopping mall, etc.; - State institutions: National power grid, Educational and Medical institutions. About Handicraft products, if customers make up their own products’ designs, the comany could turn all the ideas into the real products with high quality and hottest style, surely satisfying the most fastidious requirements. With 03 factories located in the traditional villages, Tan An have the excellent showrooms with thousands of designs to serve customer in experiencing in person all real products made from skillful handicraft men. III. Promotion Tan An Company only wholesales its products domestically, not for retailing, therefore the products’ price are also discounted in the market. When having a strong and long relationship with the company, the customers (usually other business) will get some additional services for free and discounted prices if purchasing huge amount of commodities. 13 Internship Report Hoang Thi Van Anh G. CHAPTER 2: COMPANY’S BUSINESS ACTIVITIES REPORT 1. Financial statement analysis Initially, Tan An capitalized with 150,000,000 VND until 2014 the total assets had raised significantly up to 260,100,895,554 VND (Appendix 1: Declaration of financial capacity) which meant increasing 1734 times. Also based on this declaration, over three years (from 2012 to 2014), the company was in the highly economic growth in general with the jumping outstandingly of its revenue from 344 billion up to over 548 billion VND. Table 2: Declaration of financial capacity (extracted from Appendix 1). No. Year 2012 Year 2013 Year 2014 1 Total assets 203,720,913,56 1 163,158,742,75 4 260,100,895,554 2 Total payables 116,532,653,10 8 152,975,852,01 8 142,059,838,779 4 Total short-term liability 88,114,012,287 125,975,852,01 8 126,752,595,205 5 Revenue 344,940,547,84 3 525,891,656,10 7 548,662,181,579 In the period 2013 – 2014, although that Tan An company had reduced its Costs of goods sold but it was only 0.2%; therefore, with the decrease of revenue by 0.88%, Tan An’s gross profit had lost 14.9% in comparison with the year of 2013. Table 3: Income statement (extracted from appendix 2). Criteria Revenues from sales Net revenue from sales and services (10=01-02) Code 1 10 Note VI.10 2014 543,820,640,645 543,803,640,645 2013 548,662,181,579 548,662,181,579 4 5 Cost of goods sold Gross profits from sales and services (20=10-11) 11 20 VI.11 521,811,016,337 21,992,624,308 522,817,956,124 25,844,225,445 10 Operating Income {30=20+(21-22)(24+25)} Other income Other expenses Other profit (40=31-32) 30 6,862,806,028 6,777,625,587 31 32 40 114,897,354 -114,897,354 817,500,303 200,757,146 616,743,157 1 3 11 12 13 14 Internship Report Hoang Thi Van Anh 14 17 Earnings before taxes (50=30+40) Earnings after income tax (60=50-5152) 50 60 VI.13 6,747,908,674 6,346,963,752 7,394,368,744 6,938,057,227 Above all, in a bigger range of development, Tan An Company raised its profit significantly throughout many years of doing business as can be seen in the Appendices. Thereby, the earning before tax had 8.74% reduction because of falling off in other income while there were many other expenses had to pay out leading to 8.52% reduction of earning after tax (different tax expenses) – appendix 2. According to the audited balance sheet in year end of 2014 (Appendix 3: Balance sheet), the total asset continously increased 68,567,336,655 VND (from 260 billion up to 328 billion VND). Cash and cash equivalents reduced remarkably through the beginning to the ending of this year, however, there was incresed in investment and short-term receivables which meant the company used cash for investing in other financial projects and long-term assets and cash on selling were not collected from customers yet. Table 4: Cash flow statement (extracted from appendix 4). Criteria I Cash flows from operating activities Net cash flow from operating activities II Cash flows from investing activities Net cash flow from investing activities III Cash flow from financial activities Net cash flow from financial activities Net changes in cash and cash equivalents Cash and cash equivalents at the beginning of the period Differences in exchange rate affection Cash and cash equivalents at the end of the period Code Note 2014 2013 20 -59,607,236,132 18,002,249,490 30 -35,376,171,892 910,785,737 40 50 60 79,889,301,019 -15,094,107,005 18,600,923,282 -15,021,390,542 3,891,644,685 14,709,287,597 61 70 3,506,816,277 18,600,923,282 As can be seen from the table of Cash Flow Statement above, the company had paid a much bigger amount of money for operating and investing activities in 2014 than 2013 which meant that Tan An was investing in some big investments and projects. 15 Internship Report Hoang Thi Van Anh Together with the raised capital spectacularly indicated that the company was needing a huge amount of money for the above operating and investing activities. H. Business activities by functions As mentioned, Tan An company has 1 headquarter, 2 branches and some other factories, hydroelectric plants which are shown the structure above (in chapter 1, part 4: operation of the company). Although, there are many offices and plants, all Tan An’s branches are organized simply as 6 main departments which have different responsibilities as follows: Board of Director: Controling the whole Tan An’s business activities; directly managing works, employees; making decision on distribution methods, inventories level, invesments and scale of invesment. Export – Import department: Doing market research (both domestic and foreign markets), finding material resources and then making import-export plans; advising the Director of international business, Vietnamese and international import-export policies; implementing the contracts, negotiating price and other related, preparing relevant foreign trade documents, performing international payments, etc. Hydroelectric Project department: Focusing on managing hydropower plants, and planning long-term, short-term projects; distributing electric power to national electric network; forecasting inbound and international prices for response timely to the trend; assuring information to be confidential toward those who are not responsible for. Financial and Accounting department: Managing all financial matters at Tan An company: judging the assets and capital using following the State financial management; making financial plans; responsing capital matters periodly aiming to helping the Director changing the way in using capital resources efficiently. 16 Internship Report Hoang Thi Van Anh General Trading department: Being responsible for selling within Vietnamese boundaries: advising the Director of business strategies and policies; signing inland trading contracts, transportation, packaging when being authorised; co-working with Import-Export department for finding other commodity resources. Test and Measurement Equipment department: Researching and testing measurement devices and providing devices for education, medical, scientific technology; system integration, technical services for industrial factories. I. The company’s value chain Exploiting Producing Importing Distributio n Wholesale domestically Exporting Diagram 4: Tan An value chain. In Tan An company, all staffs and workers including engineers, universities, colleges, secondary and technical workers from grade 3 to grade 7, are selected based on different positions that each individual is responsible for. Basically, there are two main flows of standard for choosing work forces to work at Tan An: - Blue-collar workers: Generally, there is no need to have education-based or may have graduated from vocational schools for those who want to work in the sites, as long as their health are good enough, having experiences and especially clearly understand about the objects they are working for (normally natives priority). For example, for the exploiting labors, they need to deeply understand about the way of cutting trees, digging soils for getting the mental ores; and for those who work at hydro power plants, they need to be good at electrical aspect. 17 Internship Report Hoang Thi Van Anh - White-collar employees: Those who work in offices at different departments, act as supervisors at sites, engineers, factories and plants. In Tan An, all those employees have to get at least a bachelor degree and are trained professionally before working officially for Tan An company. For those who are the managers such as head of departments, directors, they must have a higher education degree and are experienced for years in the same fields. By using such strong labor forces like that, Tan An is partly successful in follows its value chain: I. Exploitation and Importation For the purpose of doing business, every company need to find out the material resources and then go to get that materials by any methods. In Tan An company, there are two ways of taking the materials resources: Exploiting natural resources or Importing such kind of raw materials or products, machines, technologies, etc. From now, there will be described deeply about raw materials not machines and technologies (because of the use of supporting for producing). 3.1.1. Sources of resources + Exploiting: As registered to the Vietnamese law, Tan An company is allowed to take advantages of natural resources at Northern areas where are woods from timber forests and mixed forests with bamboo wood, pure bamboo forests and mixed wood forests; and ore exploitation mainly in Quang Ninh, Thai Nguyen and Ninh Binh province but it is just a small partial of mental ore and wood sources which are main ingredients for producing and doing business at Tan An. + Importing: This is the main source of Tan An for distributing within boundary and production. With the highly demand of woods domestically, the company has been importing woods from the Africa and the Americas for years in such countries as: the Republic of the Congo, Colombia, Gabon, Cameroon, Angola, etc; whereas China is always the main land for Tan An company to import mental ores over a decade. With storage system and distribution agents in many provinces and cities 18 Internship Report Hoang Thi Van Anh nationwide, our company wishes to serve customers with products of high quality, reasonable price, and fully, on-time delivery. 3.1.2. Standard of importing + After many years, both parties are in close relationship and therefore raised the standard of each importing contract: delivery commodity, international payment, incoterms or insurance are solved rapidly and fairly each time has any problem. + About the products, after delivery, the foreign countries always sent the samples to Tan An company for comparison afterward. If there are any miss-matched with the sample or any damage of goods, then both parties go to deal together. In fact, this case rarely happens while trading between Tan An and foreign companies. II. Production After the first process, those raw materials will be transferred following 2 ways: distributing directly to customers (wholesale to other domestic companies) or being processed until becoming finished goods. The company focuses on production, because production is fundamental for the company to develop stably. Table 5: Production in 3 factories. Places Ferro Scale of manufacturing Ninh Binh Over 400 workers; Products Steel, cast iron, other manganese Average capacity: 100,000 building materials and factory tons/year. devices. About 250 workers; Electricity Phu Mau Lao Cai hydroelectric Annual power yield is 21-22 plants million Kwh per year. MDF wood factory-Vinafor 19 Hoa Binh Nearly 190 workers; Handicrafts, wooden furniture, other wooden Internship Report Hoang Thi Van Anh Average capacity: 54,000 products. tons/year. Ferro Manganese factory: was located in Ninh Binh province where processing the mental ores to supply building materials such as steel and cast iron for the Vietnamese market. By using modern technologies and machines, together with over 400 workers, experienced engineering, manufacturing and working staff the factory now has 2 mineral-heated furnaces with the capacity of 6300KVA, at the end of 2010, we will invest to build 2 new mineral-heated furnaces and 1 refined furnace, production will reach at least 100,000 tons per year. Illustration 1: Ferro production and package. Phu Mau hydroelectric plants: was placed in Lao Cai province where supplies the electricity for some institutions and companies. Phu Mau group of hydroelectric power plants comprise 3 plants with capacity of 5.6 MW. Annual power yield is 2122 million Kwh per year. The Phu Mau plants act as an up-growing electric plants with the increasing labors by years and now reached about 250 workers. Plant number 1: Installed capacity: 1.4 MW Height of estimated water column: 80m Plant number 2: Installed capacity: 1.8MW Height of estimated water column: 150m Plant number 3: Installed capacity: 2.4MW Height of estimated water column: 250m 20