ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 5HND Diploma in Business

Unit number and title Unit 9: Entrepreneurial Venture (5047)

Submission date 22/6/2023 Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student Name Nguyen Thi Thanh Ngan Student ID GBD210576

Class GBD1007A Assessor name Vo Cong Ngbia

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Table of Contents
I. Introduction ........................................................................................................................................... 4
II. Part 1: Business size and impacts on the economy ............................................................................ 4
1. Micro business ..................................................................................................................................... 4
2. Small and medium business ................................................................................................................ 5
3. Examining the importance of micro and SME enterprises.................................................................. 8
4. Recommendations ............................................................................................................................. 10
III. Part 2: Enhancing intrapreurship in both public and corporate organizations ........................... 11
1. Public sector ...................................................................................................................................... 11
2. Corporate enterprise .......................................................................................................................... 13
3. Intrapreneurship................................................................................................................................. 14
4. Similarities and difference between public and corporate intrapreneurship. ....................................... 15
4.1. Similarities ..................................................................................................................................... 15
4.2. Difference....................................................................................................................................... 16
IV. Conclusion ............................................................................................................................................. 17
References ................................................................................................................................................... 18

Figure of Figures
Figure 1. Vietnam Chamber of Commerce and Industry - VCCI (Source: VCCI) ........................................ 4
Figure 2. Fandy store (Source: Fandy website) .............................................................................................. 5
Figure 3. SME enterprises (Fishel, 2020)....................................................................................................... 6
Figure 4. Danang Riverside Hotel (Source: Hotelmix) .................................................................................. 8
Figure 5. Figure 5. The pie graph illustrates types of business in Viet Nam (Quandinh, 2019) .................. 10
Figure 6. NASA symbol (source: Nasa website) ......................................................................................... 12
Figure 7. The importance of intrapreneurship (Anjali, 2019) ...................................................................... 14
 I. Introduction
The Vietnam Chamber of Commerce and Industry (VCCI) is a well-known national organization that
stands for the business community, employers, and business associations in Vietnam. The operations of
VCCI are intended to advance economic, trade, and scientific-technological cooperation between Vietnam
and other nations on the basis of equality and mutual gain. This essay will present a brief research project
with two goals: to evaluate the economic effects of SMEs and to discuss the significance of
intrapreneurship in both public and private organizations. Additionally, recommendations will be also
given to solve the problems that the businesses are facing.

Figure 1. Vietnam Chamber of Commerce and Industry - VCCI (Source: VCCI)

II. Part 1: Business size and impacts on the economy

1. Micro business
A micro business is a subset of a small company that has less than ten employees and yearly revenue of
under $250,000. Micro firms sometimes run as sole proprietorships, which are made up solely of the
company owner. Micro enterprises are those with a starting capital need of less than $50,000, according
to the Small Business Administration (SBA). Microbusinesses encompass many different types of
independent contractors, such as consultants, Etsy store owners, and freelance writers. The traditional
business structure centers on a smaller consumer market and enables entrepreneurs to form intimate
bonds with their customers (Gross, 2022).
Some features of micro businesses may be found in the definition, which can be used to identify small
businesses from medium-sized and large enterprises. The following are some traits of micro businesses:
One of the characteristics of micro businesses is low capital. Unlike medium and large businesses, this
company has a smaller capital base. Comparatively speaking, this company is simpler to manage, stimulates
the regional economy. Spending money locally can help to create new jobs. As a result, the variety of
microbusinesses helps the country's growth go more quickly. Microbusinesses encompass many different
types of independent contractors, such as consultants, Etsy store owners, and freelance writers. The
traditional business structure centers on a smaller consumer market and enables entrepreneurs to form
intimate bonds with their customers (Lambert, 2022).

For example, Fandy store is a shop that specializes in selling the variety of shoes for those who like playing
sport or running located in Da Nang city. According to the research from the owner of this store, they
revealed that charter capital estimates about 800.000.000 to 900.000.000 million VND. Beside, the total of
staffs have six people and there is only one location in Da Nang. Therefore, it proves that Fandy store is a
micro bussiness.

Figure 2. Fandy store (Source: Fandy website)

2. Small and medium business

SME businesses are ones that are established, run, and managed with a modest amount of funding and a
modest number of personnel. There are only a certain number of owners who have full ownership and
provide the necessary equity. A single person or a small group of people provide the funding. SME
businesses or industry has varied definitions in various nations. Private limited companies, partnerships, and
proprietorships are all options for small businesses (Ward, 2020).

There is not a single accepted definition of a SME. Each nation is entitled to choose its own definition and
may also opt to impose particular restrictions on particular businesses. In Vietnam, the criteria for classifying
SMEs are shown in Decree 90/2001/ND of the government. According to Truong (2023) it is assumed that
a small and medium-sized enterprise is an independent production and business establishment that has
registered its business in accordance with current laws, has a registered capital of not more than 10 billion
VND or an average annual number of employees not exceeding 300 people.

Figure 3. SME enterprises (Fishel, 2020)

In terms of the capital, SMEs have limited capital and often do not have access to large capital sources from
investment banks. This causes limitations in equipment innovation and job development promotion for these
enterprises. Furthermore, SMEs tend to have short-term plan and have distinctive characteristics. Due to
their modest size and design to accomplish short-term objectives, almost all company plans are short-term.
Also, they are easy to control since the operation is small so if compared to other firms, this one is simpler
to manage. Any departure is quickly identified because the workforce is restricted to a maximum of 50
employees and is directly under the owner's control. Control job gets simpler as a result. Its number of
employee will be limited and under a certain number. There are fewer than 50 employees working for tiny
businesses. In the scope of manufacturing, small and medium enterprises mainly operate in the field of
commerce rather than focusing on production and processing. Mainly trades related to the sale, purchase,
production of goods, services and distribution of consumer goods (Solanki, 2022).

For example: Danang Riverside Hotel is a 4-star international standard hotel with 14 floors including 107
rooms fully equipped with high-class and luxurious facilities. Cozy, elegant interior, with rich, high-quality
services are ready to serve their customers (Hotelmix, 2023). With 14 extremely luxurious luxury
apartments with full modern amenities and 87 bedrooms for long-term and short-term rental (Hotelmix,
2023). In addition, the hotel has a conference room to meet conference needs from 50 guests to 500 guests
with modern audio and light equipment (Hotelmix, 2023). Restaurants serving cuisine, especially,
restaurants with a capacity of up to 1200 guests are always ready to serve European and Asian dishes, all
kinds of parties, weddings, attractive specialty dishes. The top floor is the ideal location to organize food
programs, have fun, and enjoy the beautiful scenery of Da Nang city and the fireworks festival held on
March 27 and 28 every year (Hotelmix, 2023). In particular, the hotel has many beautiful locations for
guests to choose from, rooms overlooking the Han River and the whole city of Da Nang, rooms overlooking
the sea, Son Tra mountain range, Ngu Hanh Son cluster. To give guests a comfortable stay, Danang
Riverside hotel has invested in building 2 functional buildings with services such as: Spa, beauty salon,
gymnastics, babysitting. Acordding to information from website, there are more than 30 employees in total.
Since that, it is able to conclude Danang Riverside Hotel is a small medium sized enterprise.
 Figure 4. Danang Riverside Hotel (Source: Hotelmix)

3. Examining the importance of micro and SME enterprises

It can be considered that micro businesses and SMEs are the main economic force globally. Therefore, their
role in the economic and social development of the country is extremely large. Micro businesses and SMEs
not only contributes very significantly to creating jobs for people, solving unemployment but also creating
a large volume of goods in terms of quality, quantity and type. Additionally, it helps to stabilize the economy
and make the economy dynamic (Murphy, 2016). Thanks to the advantage of small scale, these businesses
are very flexible and creative in business. Along with the form of business organization specialization and
diversification. Micro businesses and SMEs can respond and change according to the requirements of the
new market. More importantly, it is a place to nurture talented entrepreneurs (Murphy, 2016).

The majority of economies in the world are supported by Micro, Small and Medium Enterprises. They are
very crucial to developing nations. The International Council for Small Business (ICSB) reports that formal
and informal Micro, Small and Medium-sized Enterprises (MSMEs) account for over 90% of all firms, 60-
70% of all employment, and 50% of GDP on average (Muller, 2019). Smaller companies can adapt quickly
to a changing environment, but their scale also leaves them open to danger. The main challenge is getting
access to money. Small businesses may have a tougher time negotiating trade-related processes and locating
possibilities in foreign markets than their larger rivals. The generally stable financial situation of 2019
underwent a significant upheaval in 2020 (Muller, 2019). Europe's economies were severely harmed by
COVID-19. The majority of 2020 was marked by supply chain interruptions, lockdowns, and other measures
implemented by Member States and other nations around the world to stop the virus's spread. In the EU-27,
GDP (at constant prices) is projected to have decreased by 7.4% in 2020, with decreases in GDP (at constant
prices) occurring in all Member States (Muller, 2019). All aspects of aggregate demand experienced
substantial declines during this historically unprecedented abrupt reduction in GDP (at constant prices). Due
to the numerous job and support programs put in place, the pandemic had the least impact on family and
governmental spending.

Currently Vietnamese enterprises are mainly Micro enterprises and SMEs. These enterprises make a
significant contribution to the development of the economy so Micro businesses SME has become an
important part of the Vietnamese economy. The results of the business survey in 2011 showed that Micro
businesses and SMEs accounted for 97.6% of the total number of enterprises across the country, and they
also significantly contributed to the Gross National Income, creating jobs, mobilizing capital sources (Quan,
2019). at home and abroad for production and business activities, solving social problems. In addition, in
the process of operation, these kind of businesses have created a team of entrepreneurs and workers with
increasingly improved and perfected knowledge and skills. As of December 16th 2019, followed by
Quandinh (2019), the total number of enterprises surveyed in the statistics sector was 324691 enterprises.
According to labor criteria, the number of large enterprises is 7750 enterprises, accounting for 2.4%, the
number of Micro enterprise and SMEs is 316941 in total, accounting for 98% (of which medium enterprises
are 6853 enterprises, accounting for 2.16%, small enterprises are 93356 enterprises accounted for 29% and
micro enterprises were 216732 enterprises, accounting for the highest proportion with 66.84%) (Quan,
2019).

]
 Figure 5. Figure 5. The pie graph illustrates types of business in Viet Nam (Quandinh, 2019)

4. Recommendations
SMEs are essential in forming a nation's economy. They can be viewed as a hugely appealing and inventive
system. The sector is regarded as a topic of strategic relevance in an economy because of the positive social
and economic benefits of SMEs. To enhance the developing speed of these entreprenuer, some
recommendations are suggested. The first tip is to favor adaptability and creativity, small and mid-size
businesses should be credited with a number of technology advancements and processes. Specifically, SMEs
can concentrate on developing new goods or services in order to succeed; as a result, they are able to adjust
to changing market demands more quickly. The second one is to promote a competitive and healthier
environment. That means small and medium-sized businesses boost competition for product design, pricing,
and effectiveness and adapt to technological knowledge. The next propose is to supports large businesses,
that illustrate the small and medium-sized businesses assist large businesses in several operational areas that
they are better equipped to supply. Due to the sudden dissolution of SMEs, large corporations will be obliged
to take on more tasks that may not be productive for them. SMEs are more effective in developing tasks like
supplying raw materials and distributing the finished goods produced by large corporations. Last but not
least, it is necessary for businesses to detail the strategy and financial plan. In particular, the SMEs can
increase access to low-interest funding sources, review and promote loans through unsecured loans, evaluate
the efficiency and profitability of investment projects. Businesses also need to be transparent about financial
issues to use resources effectively, reduce costs and risks for both businesses and banks. Understand cash
flow and working capital deficits, reduce payment processing costs, reduce risk, and maintain profitability.
In a nutshell, there are four recommendations to help the business grow faster: encourage the innovation
and flexibilty, promote the environment, collap with well-known enterprises and have specific developing
plans.

III. Part 2: Enhancing intrapreurship in both public and corporate

organizations
1. Public sector
The public sector is any company or enterprise that is to run by the government for the benefit of the general
populace. The notion of the public sector goes beyond mere operation to encompass control over
government, which leads to actions like enacting public policy or exercising public power, among others.
There are numerous benefit packages available to those who work for the government. Retirement and
health insurance are included in these advantages. Employees can switch between several governmental
sectors and still receive the perks thanks to this (Balfour, 2021).

There are some particular features when it comes to public organizations. First of all, public enterprises will
be owned, managed, and controlled by the government. Government will take responsibility for funding for
the business’s share capital ranges from 51% to 100%. Government officials appoint public firms' senior
management. In terms of the service motive, these businesses offer the general population necessary goods
and services at fair prices. They follow social welfare principles. make money and pay taxes to the
government. Also, public businesses operate with full or partial authority. They conduct business as
corporations and companies. The government doesn't meddle with how they go about their daily business.
Regarding the unique legal standing, public enterprises are treated differently under the law. A specific act
of Parliament, the Company Act, or other laws establish them. That means public businesses are permitted
to sign contracts in their own names. In legal proceedings, they have the right to sue and be sued. Lastly,
due to their stability and ongoing existence, public enterprises also exhibit continuity. They are enacted by
law and may only be repealed by law. The continued existence of public firms is unaffected by changes in
shareholders, management, or personal (Geek, 2022).
For example: NASA stands for the National Aeronautics and Space Administration, or NASA, is the
world's foremost space exploration agency and America's civil space program. With a diversified workforce
of slightly under 18,000 federal servants, the agency collaborates with numerous other U.S. contractors,
academic institutions, and international and business partners to explore, discover, and advance information
for the benefit of humanity. With an annual budget of $23.2 billion in Fiscal Year 2021, or less than 0.5%
of the whole U.S. government budget, NASA supports more than 312,000 jobs nationwide and contributes
to more than $64.3 billion in total economic production (Fiscal Year, 2019).

According to Loff (2015), NASA has been at the forefront of peaceful space exploration for the past 60
years, uncovering new information about our planet, solar system, and cosmos. NASA research has
significantly improved aviation, aided in the growth of a commercial space industry, enriched economy,
produced jobs, and boosted national security. In addition to honoring the accomplishments of the first 60
years of NASA, it's also important to remember the tragic loss of life that occurred during that time,
including that of aircraft pilots and the crews of Apollo 1, Challenger, and Columbia. Devoted NASA
personnel have sacrificed many hours away from their families to plan and carry out missions, both on Earth
and in space.

Figure 6. NASA symbol (source: Nasa website)

2. Corporate enterprise
The area of the economy that is owned, controlled, and managed by people and businesses who want to
make money is known as the private sector. Typically, the government does not own or control businesses
in the private sector. To deliver a service or commercial endeavor to a community collectively, the private
sector and the government might occasionally work together in a public-private partnership. Private sector
companies establish fair market conditions to maintain pricing (Hutington, 2022).

The primary characteristics of the private sector is that it is run by private persons without the intervention
of the government, but there are other characteristics as well (Yang, 2013). To beggin with the motive profit,
it is what private sector businesses are primarily concerned with. Companies in the private sector often
manage to achieve larger profits compared to corporations in the public sector since they operate under the
rules and compliances of the particular country (Fabian, 2023). Besides, these companies will be owned,
and managed by private businessmen while public enterprises will be controlled by the government. Thus,
the state or federal governments do not have any involvement in the ownership or management of a private
sector business (Fabian, 2023). In terms of the private finance, owners or shareholders provide capital to the
private sector. The methods used by various private sector businesses to raise money also different. In a solo
proprietorship, the trader provides capital, whereas in a partnership, the partners provide capital. As an
alternative, a joint-stock firm might raise capital by issuing debentures, a form of long-term debt. That
means the private sector raises money is by applying for loans to cover both long-term and short-term funds
or demands (Fabian, 2023). In addition, the private sector has a competitive work environment with better
pay and career advancement depending on performance (Fabian, 2023). Therefore, to preserve a competitive
advantage over other private sector organizations, businesses try to provide the finest working environment
for their staff.

Example: As a joint venture between HEINEKEN and Saigon Trade Corporation (SATRA), HEINEKEN
Vietnam has a long history of 30 years with proud marks and achievements. From the first factory in Ho
Chi Minh City in 1991, HEINEKEN Vietnam now has 6 factories with more than 3,000 employees across
Vietnam. People are at the heart of HENEKEN’s development journey in Vietnam. HEINEKEN Vietnam
is creating 152,000 jobs across the entire value chain, contributing 0.7% of the country's total GDP.
HEINEKEN Vietnam is also among the businesses that contribute the most taxes to the state budget for
many years in a row. As a company that is constantly innovating, HEINEKEN combines international
experience with our know-how and deep understanding of the Vietnamese market to bring to Vietnamese
consumers a diverse product portfolio that is suitable for both domestic and international consumers.
suitable for different needs, interests and enjoyment times. Sustainable and responsible business is the
guideline for all activities of HEINEKEN Vietnam. They pursue the commitment of “For a better Vietnam”
from the very beginning, and have been honored by the Vietnam Chamber of Commerce and Industry
(VCCI) in the Top 3 Most Sustainable Manufacturing Enterprises in Vietnam for 6 consecutive years 2016
– 2021 (Heineken, 2020).

3. Intrapreneurship
The phrase "intrapreneurship" describes a framework that enables an employee to behave like an
entrepreneur inside of a business or other organization. An innovative product or service is pursued by
intrapreneurs, who are self-driven, pro-active, and action-oriented individuals. An intrapreneur is aware that,
unlike for an entrepreneur, failure has no personal penalty because the company picks up the tab for any
losses (Kenton, 2022).

Figure 7. The importance of intrapreneurship (Anjali, 2019)

Nowadays, the economic situation is not stable, so the intrapreneurship makes a significant contribution to
remain competitive, nurture and develop the enterprise. According to Fleiss (2022) an intrapreneur's
concept will not only inspire the businesses to take advantage of business prospects in a new or existing
market but also can deepen its relationship with its staff by giving them both authority and responsibility.
Furthermore, the intrapreneurship maximizes the use of human resources, so the employees have the chance
to excel in their primary areas of responsibility thanks to intrapreneurship. One of its importance is the
economic stability, rapid innovation is used to combat market unpredictability and economic downturns.
That leads to the innovative growth and the foundation of idea generation (Anjali, 2020). In summary,
intrapreneurship is crucial to a company's ability to properly grow an organization.

4. Similarities and difference between public and corporate intrapreneurship.

4.1. Similarities
There are some points of similarities between public and corporate intrapreneurship. Firstly, they greatly
impact to the economy of the nation under many shapes and sizes, big and small, private and public. The
public and private sectors make up the majority of the factors. Therefore, whether in the public or private
sector, it has a significant impact on the population and economy (Bode & Singh, 2016). Additionally, both
of them prioritize the innovation and the intelligence within business, focus on the development steps.
Being intelligent is necessary to succeed as an entrepreneur or intrapreneur. One needs a thorough
awareness of the market, as well as the tools and resources needed to launch their idea, to manage a firm
successfully. This is a crucial element that will offer them an advantage over rival companies. The
intelligence can assist in spotting potential business possibilities (Burns, 2013). To fully utilize their
intelligence, it is crucial to imagine feasible outcomes and develop methods in line with them. One of the
last similarity is the adaptability, based on the current market demands, any firm is susceptible to changes
(Bode & Singh, 2016). Thus, public and corporate intrapreneurship needs to be adaptable are confronted
with unforeseen difficulties that could have an impact on their business plan. The ability to adjust is
essential in these circumstances. To do this, they might need to make some judgments quickly or even
devise fresh approaches to overcome obstacles. Not only these, both entrepreneurs and intrapreneurs also
need to be confident in their ability to succeed and willing to make mistakes. They take the risk and put
their ideas into practice (Burns, 2013).
4.2. Difference
Dispite the similarly great contribution to the economy for the countries, public and corporate
intrapreneurship have many differences.

On the one hand, public social intrapreneur are leaders in the public sector, such as a member of the
local, state, or federal government, or a representative of an international organization, who uses social
innovation and social entrepreneurship to advance the public benefit through legislation, rules, or other
public initiatives. The public intrapreneurs will be under government's control. They have the main aim
of obtaining a balance between wealth and economy and helping the citizen ’s of the nation. The public
intrapreneur does not have enough staff to work, but the workload is more as compared to the private
sector. In terms of the revenue, the public intrapreneur raises money from funding and public revenue
includes tax, duty, fine, etc. The public intrapreneur tends to work at areas, like: army, police, healthcare,
banking, transit, telecommunications, etc. Public intrapreneurs also receive a lot of benefits from their
business. Some of the benefits include: job security, retirement, allowances, pension plans. Unlike the
private intrapreneur, public intrapreneurs provide a sense of stability in the job (Perlman et al., 1988).

For example, Pradeep Kakkattil began his career in India as a journalist and filmmaker. He gave up his
journalism profession after learning that a friend had HIV in 1991 and began working on establishing
some of the early preventive programs that went on to become a national model for HIV prevention. In
order to expand access to healthcare, he assisted in founding the Health Innovation Exchange (HIEx) at
UNAIDS, a neutral platform that creates reliable collaborations between nations, entrepreneurs, and
investors. When it comes to addressing the lack of dependable energy, the Solar for Health Partnership
and the Investor Coalition are two examples of how HIEx addresses the disconnects between various
sectors that limit the potential of innovation and technologies to scale up access to healthcare (Awardees,
2022).

On the other hand, corporate social intrapreneurs are individuals that lead the creation of new projects,
services, products, or business models to address the social and environmental concerns. They may work
for international or regional corporations. The private sector is not under government's control. The major
objective of the corporate intrapreneurs is to earn profits for the business. The private intrapreneur earns
money by taking a loan or issuing debentures and shares. The private intrapreneurs tend to operate in the
fields related to finance, information technology, manufacturing, pharmaceuticals, banking, mining, etc.
Private sectors also provide some benefits. The benefits that they receive from the business are good
salary, competitive environment, incentives, promotion, high package. Also, there is no stability in the
job of the private sector societal and environmental concerns. They may work for international or regional
corporations (Perlman et al., 1988).

For example, Corinne Bazina has spent her entire career working for Danone, a multinational corporation
with a purpose, a pioneer in social innovation since 1972, and a company that has launched numerous
initiatives to use business as a force for good, including being the first multinational to commit to become
a B Corp and the first corporation to launch a social business fund: Danone Communities, to name a
few. She has been a Corporate Social Intrapreneur leading Danone's social innovation projects since 2010.
She has been in charge of the Social Business Fund Danone Communities, which Professor Yunus and
the CEO of Danone jointly chair (Awardees, 2022).

IV. Conclusion
This report will investigate the VCCI organization which is a well-known national organization that
represents Vietnam's business community, employers, and business groups is the Vietnam Chamber of
Commerce and Industry. The objectives of VCCI are to promote equal and mutually beneficial economic,
trade, and scientific-technological cooperation between Vietnam and other countries. In this essay, a quick
research project will be presented with two objectives: to assess the economic impacts of SMEs and to talk
about the importance of intrapreneurship in both public and private enterprises. Additionally,
recommendations to improve the businesses and the discuss of the similarity, difference between the public
and corporate intrapreneurs also given in this research.
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