Background Information and History
Con Cung Joint Stock Company is one of the largest public companies in Vietnam, founded in 2006 by a group of dedicated and experienced entrepreneurs. This company is a diversified business, actively investing in several industries such as rearing poultry and agriculture, constructing buildings, manufacturing and trading in goods, lots of services. The company also provides financial services such as banking, loan services and currency exchange. As of 2019, Con Cung Joint Stock Company has boasted over 1,800 staff working and solutions that have been used by millions people in Vietnam.
Business Model and Company Structure
Con Cung Joint Stock Company’s main business model focuses on providing excellent customer service and creating exceptional solutions for their customers. The company implements a multi-level structure to maximize efficiency. At the top level, there is an executive board responsible for managing the company’s policies and operations. At the middle level, there are departmental heads responsible for managing their respective departments and activities within the company. Below that, there are individual employees and teams that undertake the day-to-day operations for the company.
Financial Performance
Con Cung Joint Stock Company’s financial performance has been consistently strong. The company has been consistently profitable with an average profit margin of 26.3%. Total revenue for 2019 was VND 7,676 billion and net income was VND 609 billion. The company has also been consistently cash flow positive and at the end of 2018, the company had VND 1,110 trillion in total assets. These impressive financial indicators demonstrate the impressive performance of Con Cung Joint Stock Company over the last few years.
Competitive Advantages
The company enjoys a number of advantages over its competitors. Firstly, their well diversified product portfolio allows them to offer solutions that other competitors cannot. They also have a wide range of services and products such as banking, loan services, currency exchange and poultry rearing, construction and manufacturing. Another advantage of Con Cung Joint Stock Company is their excellent customer service, which allows them to exceed customers’ expectations. This has resulted in a high customer retention rate and an increase in revenue for the company. Lastly, the company’s strong financial performance has given them the capacity to invest in new technologies and services which has helped them to keep ahead of the competition.
Influence of Social Media and Technology
Con Cung Joint Stock Company is well aware of the impact that technology and social media can have on their business operations. They have implemented several digital strategies to maximize their reach on the internet. Their website is highly optimized for search engine traffic and they are active on social media platforms such as Facebook, Twitter and Instagram. They have also adopted mobile app technology to provide their customers with an easy and convenient way to contact the company, access their services and pay their bills.
Conclusion
Con Cung Joint Stock Company is a long-standing and highly successful company that has generated impressive financial results in recent years. The company has achieved their success by implementing a well-diversified product portfolio, excellent customer service and through the adoption of digital strategies and technology. As a result of these strategies, the company has been able to remain competitive and successful in the market.
