Solutions to Risk Management for Importing Equipment Business Projects: an Application for the Case of Implementing Import Marine Equipment Contracts

• Main Author: To Thanh Binh
• Other Authors: Assoc. Prof. Dr. Nguyen Hai Thanh
• Format: Others
• Language: en_US
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/u989cg

碩士 === 龍華科技大學 === 商學與管理研究所 === 100 === Introduction Business and Management The research on risk management in the process of implementing import marine equipment contract in Vietnam and propose several propositions to improve the risk management at this stage. Research Methodology Use mixed method in the form of mixed model research with the application of case study; combine techniques of collecting qualitative and quantitative data and relevant analysis procedures to explain, explore and answer research questions Primary data are collected by methods as follows: -Primary data are collected through observations. -In-depth interviews with managers, sales representatives in Vietnam for the qualitative analysis to get an overview of risks they are facing during the implementation of marine equipment sales contracts and their measures to limit risks arising during this process. -The questionnaire is given to 15 sales representatives in order to collect quantitative and qualitative data served for the statistical analysis. Data including secondary data, those obtained from observation, interview and questionnaires will be analyzed qualitatively and quantitatively: Rough quantitative data or pre-processed and pre-analyzed need to be processed, in other words changing into information, to make them more useful. Quantitative analysis techniques such as charts, graphs and statistics allow us to do this, help us to explore, present, describe and consider the relationships and trends in the data. Qualitative data analysed using deductive and inductive method, from the simple classification of answers to the identification of relationships between various types of data. Results On the basis of qualitative and quantitative results, the following main result: -Most of the surveyed enterprises face challenges caused by L/C’s discrepancy and consider this risk to be serious. -Almost every surveyed enterprise has difficulties caused by late payment. -Many equipment suppliers were requested for the value reduction of signed contracts and delay of good delivery. -Risks caused by exchange rate fluctuation, increased cost of input materials have quite considerable impacts on enterprises’ operation. -The survey also shows that the financial and economic crisis in the world and Vietnam and the current decline in trade between countries have significant impacts on the business and is also the cause for a lot of risks. -It is commonly commented by various surveys that to some extent, the proposals make positive contributes to the risk management and really practical in the status of current business. Propose some practical approaches to enhance the risk management during the implementation of equipment sales contracts with partners in the shipbuilding industry, including: -Apply tools to prevent exchange rate risks -Notices in payment by irrevocable L/C -Forecast risks of delayed contract implementation -Apply rules and regulations of international trade Discussion The results meet the initial objectives and propositions somewhat help to solve difficulties that are facing by marine equipment suppliers. Conclusion The thesis clarifies common risks with which marine equipment import-export enterprises are facing along with risk mitigation measures being applied to increase the efficiency of risk management during the contract implementation The research has practical applicability