ANNUAL REPORT 2024
TOGETHER IN BELIEF, LEADING IN INNOVATION
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Under the strategic guidance and delegation of the GMS and the BOD, the BOM is resolutely committed to the thorough, innovative, and efficient implementation of the business plan through the following solutions:
Corporate Governance
Manufacturing and Business Development
Fostering Continuous Improvement: Implement initiatives to recognize and reward innovations focused on cost optimization and enhanced labor productivity. Develop a positive work environment with training policies that encourage employees to stay updated on new technologies. Introduce attractive reward, welfare, and compensation policies to motivate employees and enable them to maximize their potential. Innovation and Enhance Management Capacity: Establish precise and specific definitions of the roles and responsibilities of the management team. Empower managers by delegating authority effectively and strengthening their accountability in decision-making processes. Conduct ongoing internal and external training programs focused on leadership skills, managerial competencies, and other supporting skills to ensure the sustainable development of the leadership team.
Implementing a flexible sales strategy: Create and apply adaptable, rational, and innovative sales strategies and policies, continuously introducing highly competitive initiatives. Emphasize recognizing and honoring the contributions of the sales team and distribution channels, fostering motivation and excellence in performance. Enhancing production management efficiency at factories and warehouses through implementing scientific processes and methodologies to optimize productivity and minimize waste. This approach prioritizes streamlined operations, and improved resource utilization. Driving strategic investments in R&D to introduce groundbreaking product collections and solutions to the market, rapidly addressing customer demands with superior quality and pioneering designs that set industry standards.
Enhancing Effective Governance Capabilities: Strengthen strategic management, financial management, operational management, and risk control in line with best practices, aiming for compliance with international standards established by leading organizations. Optimizing Financial Management: Implement various strategies to optimize cashflow and enhance the efficient use of capital resource. Conduct investment and/or restructure the investment portfolio with a focus on prudence, effectiveness, and alignment with core business operations. Modernizing and Optimizing Operational Processes: Accelerate investment in technology and automation by leveraging information technology applications across all operational aspects, from production to business organization, in accordance with industry best practices and standards. Equip modern machinery and equipment to bridge the technological gap with leading global enterprises, while fully capitalizing on the potential of digital transformation.
Strengthening Partnerships based on mutual benefits: foster stronger partnerships through dedicated care, support, and specialized training programs for distributors, agents, and showrooms. These initiatives aim to enhance the operational efficiency of each partner, ensure consistent sales performance, align business operations seamlessly, maintain product quality, and diversify product designs. Expanding and Maximizing the potential of ecosystem: Enhance coordination within the An Cuong’s ecosystem to drive cross-selling initiatives among group of companies. This approach not only delivers comprehensive solutions to customers but also reduces costs and fosters growth in both output and revenue. Expanding export markets: Strategically select markets, customers, and orders that align with the Company’s goals to ensure targeted and sustainable growth. Actively participate in major global trade promotion events while organizing practical and impactful events independently to maintain relationships and attract customer interest in the Company’s products.
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