The legal form describes the practical laws that are applicable for doing business in Vietnam. There are recent developments that are likely to affect businesses on the jurisdictions. Vietnam has essentially concluded certain negotiations with the European Union on the Free trade agreements that is the EU-Vietnam Free Trade Agreement. This is anticipated to be ratified by the member stares of the EU during the year 2018. EVFTA includes the following:
-The complete elimination of particularly custom duties (that includes 99% of the entire tariff duties) (Trung et al. 2015)
-Reduction of various non-tariff barriers
-Promotion of investment
-Several other matters associated to free trade.
The Vietnamese legal system was primarily modelled on fundamentally the French as well as Soviet System till the period of late 1980s at the time when Vietnam assumed the policy of Doi Moi (Trung et al. 2015). In particular, this transformed the entire economy of the nation from a centrally planned economy to particularly a market oriented economy. However, the government of the nation also heavily regulates business transactions in association to various foreign currencies (majorly US dollars). In addition to this, under the investment laws of Vietnam, there are certain incentives that are obtainable for specific geographic areas as well as industries, as well as for high-tech along with technologically advanced enterprises. Again, for a multiple-member limited liability company or else a non-publicly listed corporation, the management has the need to apply for particularly an Investment Registration Certificate, Enterprise Registration Certificate (Trung et al. 2015).
EzTravel Smart Suitcase can be referred to as a product that can aid travellers to avert difficulties associated to luggage. There are certain prominent functions assimilated in this product namely built in GPS chip that can help in tracking location at real time, built-in scale to avert overweight, USB port for charging electrical devices and all things are connected to the smart phone through a specific application.
Mission: “To offer technologically advanced designer smart suitcase at a revolutionary price, while directing the way towards socially-conscious business”
Vision: “To make EzTravel Smart Suitcase an important part of all trips so that travellers can get pleasure from journey as well as the destination”.
The primary aim of the proposed business is to enhance the travel experience by delivering the most dependable, client-responsive, and inexpensive baggage delivery solution offered globally for travellers.
The objectives of the company is therefore
– To deliver positive travel experiences- Travelling is essentially a stressful activity for travellers. However, we, the travel bag makers can make their trip enjoyable. We can try hard to surpass expectation by properly treating the luggage of the clients. The management of the company intends to depend on their experience as well as expertise to proactively make certain that all trips can be made easier.
-To earn long lasting loyalty of the consumers- The management of the company has the goal of having more number of loyal clientele and that is the reason why the entire team of the business is empowered to arrive at the right decisions for the clients of the company. Thus, it can be hereby said that the management of the company shows appreciation for the loyalty of the clients and the role client’s loyalty plays in the process of attainment of success.
-To communicate proactively as well as honestly-The management of the company intends to make every effort to anticipate, prevent as well as overcome issues that might perhaps influence the travel experience of their client.
-To pursue excellence- The management has the objective of attaining excellence and realising that there is always room for improvement in everything the company does.
-To foster growth and develop learning experience- The business intends to foster growth and success. In a bid to continue to attain growth, the business intends to embrace all kinds of change as a natural procedure of forward progress.
-To present humble, honest attitude and have fun-The administrative team of the company intends to make every effort for doing the right thing and taking accountability for all the actions. The business management has the objective of treating the clients, peers, and partners of business as well as our peers/rivals with utmost respect.
Vietnam can be considered as the world’s fifth largest exporter of the products (suitcases, backpacks, leather bags, hand bags) to the bag importers of the entire world during the year 2017 as per the statistics cited from the International Leather, Footwear and Handbag Association (LEFASO). As per LEFASO, the nation Vietnam stands fifth among the ten largest suitcase exporters, thereby contributing approximately 5.4% to past year’s worldwide supply. This industry has also reportedly registered a consistent growth of around 10 to 15% over the last five years as per LEFASO. During the year 2016, approximately 2.5 billion suitcases as well as handbags were bought throughout the world at the overall cost of approximately $300 billion (Anderson et al. 2014).
As rightly indicated by Anderson et al. (2014), it is imperative for entrepreneurs to undertake industry analysis for the purpose of determining the probable obstacles that a new and innovative business proposition might encounter. Therefore, the entrepreneur can predict the potential profitability of a particular product founded on whether the overall cost of penetrating the market is creditable and the proposed product can ensure its suitability and consistency (Simón-Moya and Revuelto-Taboada 2016)
The five forces Porter’s model can be put to use for comprehending the competitive advantage of the product in the industry
Threat of new entrants: This specific market is said to be very new, therefore it might take some time for new players to generate brand awareness. So, the new entrants in this specific market would require huge investments in area of marketing and promotion. Nevertheless, with the novel techniques of the proposed product, it might successfully secure attention of the targeted clientele. Therefore, intensity of the threat can be considered to be ranging between high to medium (Hollensen 2015)
Bargaining Power of suppliers: There are very small number of suppliers that have high technology in the nation and this can direct towards import of new foreign materials. Therefore, intensity of the threat can be considered to be high.
Bargaining Power of customers: In this case, bargaining power of customers can be considered to be medium as there is lesser number of alternative products offering the same advanced features
Threat of substitute products: There are essentially some GPS built in products that might perhaps be utilized for the purpose of monitoring the luggage, however they are nor very much user-friendly. Furthermore, EzTravel Smart Suitcase can be regarded as a combination of different ultimate characteristics and features. Therefore, the threat of substitutes can be considered to be very low.
Competitive Rivalry: The product cannot necessarily be easily duplicated by another maker owing to the high level of technical aspects. Therefore, this threat can also be considered to be very low (Schaper 2014)
The primary target group of the business are the business as well as leisure travellers who are necessarily both male and female, having mean income over and above VND 10 millions and travel on a regular basis. After deducting the concept assertion, the learner carried out a Buying Intention Survey that presents the feedback of around 100 respondents from particularly travellers at various places that include Hanoi,International Noi Bai Airport as well as Vietnam. This can help in understanding the manner potential consumers can react to the product EzTravel smart suitcase. It can be observed that more than 80% of the male respondents were very much inclined to the product since it associated to the technologically advanced product. Hereby the learner succinctly presented the opportunity of 61% favourable feedback and this satisfies the desirability, demands as well as justifiability of the proposed product in the commercial market.
Market Segment
-Business travellers- Business travellers include both male as well as female of age group (22 years to 60 years) travel on business trips
-Leisure Travellers-Leisure travellers include both male and female of all age groups travelling to various places for vacations or social purposes
Reasons for target market selection
Reports suggest that there have been around 42 million luggage bags that went astray and that resulted in a big difficulty for both business travellers as well as leisure travellers. Acknowledging these identified problems, the learner proposes this integrated solution of presenting the technologically advanced smart suitcase that contains ultimate features (Finch 2016). Both these categories or else classes of travellers therefore can acquire the benefits of these smart suitcases and get rid of the troubles currently faced.
The behaviour of the buyers across targeted segments are affected by size of the luggage as well as dimensions, weight of the luggage, feature and functionality of the luggage, durability, price, brand and environmental friendliness. In order to understand the buying behaviour of customers, it is also important to understand the entire luggage industry and the factors that affect the same (McKeever 2016). The airline industry is also seen to have considerable impact on the buying behaviour as majority of travellers essentially have the need to adjust different aspects of their travel, including considerations when it comes to this specific product that is luggage/travel bag.
The competitors of the proposed business include Sai Gon Bag Company that is Vietnam based bag manufacturer that has expertise in manufacturing bags such as laptop bags, women hand bags, travelling bags as well as purses. This company essentially have a wide range of products of different styles along with materials from which their customers can choose from.
Another firm operating in this segment include the Nguyen Thieu Co. Ltd. This company produces back pack for soprts, travelling and many others. Essentially, Nguyen also designs or prints logos as per the customer’s requirement. The present customers of the company are HPI Corporation, Rensei Education Center and Vietnam Post among many others.
The combinations of significant factors that is required in a bid to accomplish one or more favourable business goals (McKenzie 2017). The product is very flexible in creative design as well as technical skills capability. There are very small tools attached to their luggage in order to secure and monitor their things. There are very preeminent functions that are assimilated into this product. Essentially, the GPS chip attached to the suitcase permits the travellers to monitor the luggage by means of the application. In the meantime, the high-tech system of locking aids in preventing strangers from intruding on privacy of the luggage as it can be unlocked or opened with password or fingerprint of the owner. The ESS model also has incorporated scale that reflects the exact weight of the suitcase. This can help the user to adjust the weight as per regulations of the airline. The battery of the model can also last toll 100 hours and the overall level of the battery can be identified using colour of the lighting system of the LED. In this case, the green colour represents 100% and red colour represents battery level below 20%. Again, the battery can also be put to use as a charger for other electronic device. In addition to this, the ESS model will also be made available in three different sizes namely carry on, medium as well as large (Giamanco et al. 2016).
The value propositions refer to the features of the product that can make it attractive to the customers. These technically advanced features of the product can help the target segment of customers to avert their current problems by using the features of GPRS tracking, built in scale, smart phone linking, smart applications, password locked security system and all these at a reasonable price (Sheikh and Evangelista 2016).
Marketing Strategy
Explain the “why”: The management intends to share the central question of “:why”. This means that the people starting the business can let people know the idea behind their business, the reason why they are here in the market, the purpose they intend to serve. The management of the firm can help people get engaged, understand the company and its products (Bender et al. 2016). The marketing strategy of the firm also includes properly describing the target audience, listing all the marketing goals and objectives of the corporation, development of marketing communication strategies and establishing the marketing budgets.
Marketing Mix:
Product: EzTravel Smart Suitcase offers product that is technically advanced with broad range of innovative features (for instance, tracking of location, built-in scale, charger, password protected lock, smart App and many others) (Selvi 2017)
Price: The management of the firm EzTravel Smart Suitcase intends to offer the product at prices starting from VND 3500000 to VND 5500000 for every model.
Place: The management of the firm intends to make the product available on different online shops (for example, Lazada and Zalora among many others). In the near future, the management of this company also intends to market the product in different department stores (Selvi 2017)
Promotion: The promotional strategies include use of the e-commerce websites, social media platforms, endorsement by celebrities, exhibitions/fairs.
-Development of the idea
-Understanding market trend
-Development of the technical specifics
-Identification of the technical necessities
-Marketing plan
-Budget plan
-Elaborate plan of operations by the entire business team (manufacturing, sales, service, finance)
The new business intends to be a partnership business between three parties with the name as “Smart Group Sales”. The three partners will be in agreement to execute the business operations as co-owners (Gardien 2017)
The business has the need to meet the supplementary investment conditions as well as restrictions that include the following:
– Restrictions on particularly foreign ownership
-Limitations on certain business sector
-Particular forms of investment necessities
-Geographic limitations (Gardien 2017)
-Conditions and stipulations on particularly the qualifications of Vietnamese partners
-Additional conditions or stipulations related to particular business segments
Essentially, Vietnam acceded to the World Trade Organization (WTO) during the year 2007 and as a matter of accession; it made certain commitments in diverse service segments by means of Schedule on Specific Commitments in Service. In case of Multiple-member limited liability company (MLLC), the structure of the management as well as key positions held by the MLLC are very much alike to the ones of a single-member company, barring the fact that it needs to have board of directors where every member is properly represented (Gardien 2017).
Rights have the need to be registered as well as enforced in Vietnam that is stipulated under regional laws (Singh et al. 2016). At the time of doing business in the Vietnamese market, it is important to take into consideration the following IP related factors:
IP rights in Vietnam are very much territorial in nature as well as registrations. It is necessarily important to register the intellectual property rights (Thuy 2016). In this market, all the intellectual property rights are administered by the National Office of Intellectual Property. This authority is accountable for the development of IP stratagem in Vietnam as well as publishing various suggestions for protection of various forms of intellectual property (Thuy 2016).
Vietnam has high technical competency and is said to have good scalability. Essentially, a scalable business can have company’s earnings increasing at faster pace as compared to that of the contemporary cost base (McKeever 2016). In essence, it is the scalability that matters for profitability and growth potential of the business since the factors bearing majority of the cost aspects do not necessarily take in manufacturing. However, higher amount of investment have the need to be obtained in a bid to run the business. In actual fact, there are ample potential manufacturers that can help in making up the mind in doing business.
The segment below presents a brief summary of the major accountabilities of the important people:
Board of Directors: They are anticipated to oversee the entire strategic plans along with advancements of the firm. Specific regions include soundness of functioning, financial stability together with long term interests of the specific business.
President: Responsibilities include tactical decision making, assessment of diverse extension benefits along with strategic alliance as well as effectual administration
Chief Executive Officer: The main accountability is mainly to fit between reserves of the corporation and diverse peripheral aspects. Responsibilities mainly take in proper operation of the strategic fit between company’s reserves and different peripheral aspects. However, liabilities comprise of functioning of regular activities, technical as well as functional dependability and financial stability.
Director of Finance: Responsibilities include monetary supervision, preservation of assets as well as management of human resources
Director of Sales and Marketing: Responsibilities include sales development and execution of marketing programs
Director of Information Technology: Accountabilities mainly comprise of entire effectiveness of the technology, development of software and information control
The resources include the appropriate man power, machines and technical capacities and the requisite finance obtained by both debt and equity. The financial resources can be obtained by means of both debt and equity. For this purpose, the business has the need to assure a balanced portfolio for luring more number of financiers as they will assess the prospect of the business and decide as to whether their investment will bring higher rate of return. Therefore, the start up business would require the following resources for running the business:
Financial Resources- The most important component of the business can be said to be funding (McKeever 2016)
Human Resources- The success of the business can be considered to be highly dependent on the overall talent as well as strength of the members of the staff.
Educational Resources- The entrepreneur also needs to have thorough understanding as regards the competition in the market, the industry in which the business will function, system s of information, effective marketing aspects as well as knowledge of the product to be offered.
Physical Resources- This includes suitable place of work, equipments, telephones, adequate materials of marketing as well as adequate arrangement of information system (McKeever 2016).
Emotional Resources- The owners need to retain their sanity and at the same time stay motivated as starting a new business can be considered to be a very demanding endeavour.
Income Projections
The income projections highlight the working of business based on facts and figures that highlight the efficiency of the business working. Also, the income projections can intertwined with the help of sales forecast for the 5 years ahead with cash flow activities and the balance sheet and profit and loss schedule.
|
(1) Sales Forecast |
||||||
|
(2) Cash flow forecast |
||||||
|
(3) Depreciation Schedule |
||||||
|
(4) Profit and Loss Forecast |
||||||
|
(5) Balance sheet |
||||||
|
(1) SALES FORECAST |
|
|
|
|||
|
Year |
0 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Projected Sales |
|
11820,00,000 |
23640,00,000 |
35460,00,000 |
47280,00,000 |
59100,00,000 |
|
(b) Cost of goods |
1182,00,000 |
2364,00,000 |
3546,00,000 |
4728,00,000 |
5910,00,000 |
|
|
Gross Profit |
10638,00,000 |
21276,00,000 |
31914,00,000 |
42552,00,000 |
53190,00,000 |
|
|
(2) CASHFLOW FORECAST |
|
|||||
|
Preop |
||||||
|
Year |
0 |
1 |
2 |
3 |
4 |
5 |
|
CASH INFLOWS |
|
|||||
|
Cash from Sales |
11820,00,000 |
23640,00,000 |
35460,00,000 |
47280,00,000 |
59100,00,000 |
|
|
Capital Employed |
200,00,000 |
200,00,000 |
200,00,000 |
200,00,000 |
200,00,000 |
200,00,000 |
|
Other cash inflows |
||||||
|
TOTAL CASH INFLOW |
200,00,000 |
12020,00,000 |
23840,00,000 |
35660,00,000 |
47480,00,000 |
59300,00,000 |
|
CASH OUTFLOWS |
|
|
|
|
|
|
|
Payments for materials |
1182,00,000 |
2364,00,000 |
3546,00,000 |
4728,00,000 |
5910,00,000 |
|
|
operating expenses ( ) |
0 |
|||||
|
Advertisement |
6000,00,000 |
8000,00,000 |
5000,00,000 |
5000,00,000 |
3000,00,000 |
|
|
Depreciation |
100,00,000 |
100,00,000 |
100,00,000 |
100,00,000 |
100,00,000 |
|
|
Insurance |
500,00,000 |
500,00,000 |
500,00,000 |
500,00,000 |
500,00,000 |
|
|
Equipment |
1800,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
|
Rent |
0 |
2000,00,000 |
2000,00,000 |
2000,00,000 |
2000,00,000 |
2000,00,000 |
|
Research and Development |
0 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
Wages |
0 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
Payback Loan |
0 |
7500,00,000 |
7500,00,000 |
|||
|
Total Expenditure |
0 |
12400,00,000 |
13600,00,000 |
10600,00,000 |
18100,00,000 |
16100,00,000 |
|
Net Income Before tax |
-10762,00,000 |
-1324,00,000 |
12314,00,000 |
15452,00,000 |
28090,00,000 |
|
|
Income Tax Expenses |
0 |
0 |
0 |
2462,80,000 |
3090,40,000 |
5618,00,000 |
|
Net Income |
0 |
-10762,00,000 |
1324,00,000 |
9851,20,000 |
12361,60,000 |
22472,00,000 |
|
TOTAL CASH OUTFLOWS |
0 |
4458,00,000 |
29564,00,000 |
49374,00,000 |
71832,00,000 |
94290,00,000 |
|
Cash flow summary |
||||||
|
NET CASHFLOW FOR PERIOD |
200,00,000 |
7562,00,000 |
-5724,00,000 |
-13714,00,000 |
-24352,00,000 |
-34990,00,000 |
|
OPENING CASH BALANCE |
0 |
200,00,000 |
7762,00,000 |
2038,00,000 |
-11676,00,000 |
-36028,00,000 |
|
CLOSING CASH BALANCE |
200,00,000 |
7762,00,000 |
2038,00,000 |
-11676,00,000 |
-36028,00,000 |
-71018,00,000 |
|
(4) PROFIT AND LOSS FORECAST |
||||||
|
Preop |
||||||
|
Year |
0 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Revenue |
0 |
11820,00,000 |
23640,00,000 |
35460,00,000 |
47280,00,000 |
59100,00,000 |
|
Cost of sales |
0 |
1182,00,000 |
2364,00,000 |
3546,00,000 |
4728,00,000 |
5910,00,000 |
|
Gross profit |
0 |
10638,00,000 |
21276,00,000 |
31914,00,000 |
42552,00,000 |
53190,00,000 |
|
Expenses/overheads |
||||||
|
Advertisement |
6000,00,000 |
8000,00,000 |
5000,00,000 |
5000,00,000 |
3000,00,000 |
|
|
Depreciation |
100,00,000 |
100,00,000 |
100,00,000 |
100,00,000 |
100,00,000 |
|
|
Insurance |
500,00,000 |
500,00,000 |
500,00,000 |
500,00,000 |
500,00,000 |
|
|
Equipment |
1800,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
|
Rent |
2000,00,000 |
2000,00,000 |
2000,00,000 |
2000,00,000 |
2000,00,000 |
|
|
Research and Development |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
|
Wages |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
1000,00,000 |
|
|
Payback Loan |
0 |
0 |
0 |
7500,00,000 |
7500,00,000 |
|
|
Total expenses/overheads |
12400,00,000 |
13600,00,000 |
10600,00,000 |
18100,00,000 |
16100,00,000 |
|
|
Profit before tax |
-1762,00,000 |
7676,00,000 |
21314,00,000 |
24452,00,000 |
37090,00,000 |
|
|
Tax @ 30% |
-528,60,000 |
2302,80,000 |
6394,20,000 |
7335,60,000 |
11127,00,000 |
|
|
Profit after tax |
-1233,40,000 |
5373,20,000 |
14919,80,000 |
17116,40,000 |
25963,00,000 |
|
|
Transfer to reserves |
-1762,00,000 |
7676,00,000 |
21314,00,000 |
24452,00,000 |
37090,00,000 |
|
Balance Sheet |
|||||
|
Assets |
2018 |
2019 |
2020 |
2021 |
2022 |
|
Current Assets |
|||||
|
Cash |
1182000000 |
2364000000 |
3546000000 |
4728000000 |
5910000000 |
|
Accounts receivable |
1182000000 |
2364000000 |
3546000000 |
4728000000 |
5910000000 |
|
Total current assets |
2364000000 |
4728000000 |
7092000000 |
9456000000 |
11820000000 |
|
Fixed (Long-Term) Assets |
|||||
|
Equipment |
180000000 |
100000000 |
100000000 |
100000000 |
100000000 |
|
Less: Depreciation |
10000000 |
10000000 |
10000000 |
10000000 |
10000000 |
|
Total fixed assets |
190000000 |
110000000 |
110000000 |
110000000 |
110000000 |
|
Total Assets |
2554000000 |
4838000000 |
7202000000 |
9566000000 |
11930000000 |
|
Liabilities and Owner’s Equity |
|||||
|
Current Liabilities |
|||||
|
Accounts payable |
2885385000 |
3281708500 |
2918024350 |
4654331785 |
4490629963 |
|
Accrued Rent |
150000 |
150000 |
150000 |
150000 |
150000 |
|
Bank Charges Payable |
100000 |
100000 |
100000 |
100000 |
100000 |
|
Income taxes payable |
-52860000 |
230280000 |
639420000 |
733560000 |
1112700000 |
|
Accrued salaries and wages |
550000 |
605000 |
665500 |
732050 |
805255 |
|
General Expenses |
65000 |
71500 |
78650 |
86515 |
95167 |
|
Lease Payment |
150000 |
165000 |
181500 |
199650 |
219615 |
|
Total current liabilities |
2833540000 |
3513080000 |
3558620000 |
5389160000 |
5604700000 |
|
Owner’s Equity |
|||||
|
Owner’s investment |
20000000 |
20000000 |
20000000 |
20000000 |
20000000 |
|
Net Profits |
-123340000 |
537320000 |
1491980000 |
1711640000 |
2596300000 |
|
Reserve and Surplus |
-176200000 |
767600000 |
2131400000 |
2445200000 |
3709000000 |
|
Total owner’s equity |
-279540000 |
1324920000 |
3643380000 |
4176840000 |
6325300000 |
|
Total Liabilities and Owner’s Equity |
2554000000 |
4838000000 |
7202000000 |
9566000000 |
11930000000 |
|
Common Financial Ratios |
|||||
|
Debt Ratio (Total Liabilities / Total Assets) |
1.11 |
0.73 |
0.49 |
0.56 |
0.47 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.83 |
1.35 |
1.99 |
1.75 |
2.11 |
|
Working Capital (Current Assets – Current Liabilities) |
(4695,40,000) |
12149,20,000 |
35333,80,000 |
40668,40,000 |
62153,00,000 |
|
Assets-to-Equity Ratio (Total Assets / Owner’s Equity) |
-9.14 |
3.65 |
1.98 |
2.29 |
1.89 |
|
Debt-to-Equity Ratio (Total Liabilities / Owner’s Equity) |
-10.14 |
2.65 |
0.98 |
1.29 |
0.89 |
The financial plan and forecast needs to be analysed and have checked that the company will improve with its activities in the 5 year period.
The corporation can plan to acquire funds in different manners; nevertheless depending on an financier can be considered to be the most familiar approach. Corporations have the need to assure a balanced portfolio for the purpose of attracting financiers as they will assess the same and decide about their investment (Babin and Zikmund 2015). Again, this business can receive funds from investment corporation – (Vietnam Innovative Startup Accelerator) also simply referred to as VIISA that is necessarily inclined in developing project associated to high technology. In this case, the proposer and owner of the business can fund amounting to VND 5 billion from external financier and for that purpose disburse interest at the rate of 3%.
Inability of financiers to deliver the entire investment amount or else a complete withdrawal of investment
The business has the need to negotiate with the present financiers or look for another source of investment. Essentially, the firm can depend on crowd funding on condition that it has the need to assure its profitability that is generally the possibility of the business operation to essentially the customers before acquiring the fund (Ren et al. 2015).
Issues of illegal duplication
In the current scenario, the entrepreneur has the need to issue patent for the new technologically advanced product (Nepal and Chotiyaputta 2016)
Issues in the process of manufacturing
Getting a substitute manufacturer can be an issue with mainly the primary manufacturers. In this case the corporation needs to sketch out a price deal as the back up manufacturing firms can essentially push the product’s price upward in times of emergency (Trinh 2016).
Milestone Table
|
Tasks |
Date |
|
Initial fund contribution |
January 2018 |
|
Establishment of legal entity |
January 2018 |
|
Initial content for localization |
February 2018 |
|
Vietnam launch |
February 2018 |
The co-owners of the firm can lessen or else eliminate their stake in the business by means of liquidation, friendly selling or else by entering into merger or else acquisitions. In case of mergers and acquisitions, these kinds of business transactions normally refer to merging with a similar kind of corporation as well as larger company. This kind of exit is primarily chosen by big corporations and can be adopted by start ups (McKeever 2016). However, the management of the company discover that the firm has become insolvent, then they might consider liquidating the firm and consider dividing the assets among shareholders as well as creditors.
References
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