Hi, need to submit a 1500 words paper on the topic Project Management in Vietnam in the IT/IS Area.
Vietnam has introduced reforms in its economy and had opened its market to foreign competition in 2001. The GDP growth of Vietnam has been significant with growth that can be seen across various sectors as shown in the table (Economywatch) as below:To meet the challenges of the contemporary business environment of cut-throat competition, an effective information system has become essential. Timeliness and efficient delivery of organizational goals and objectives have become intrinsic to the survival of the businesses.
Sharing the information amongst the various internal and external linkages, within the businesses so as to exploit the potential and opportunities, has become the need of the hour. Thus, the highly competitive global environment has necessitated the tacit manipulation of the informed choices by the organizational leadership.Porter’s five forces model is highly relevant in the contemporary business environment primarily because it helps to understand the market compulsions of developing economies and facilitates applying appropriate business strategy (Porter, 1988).
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The five forces that considerably impact market decisions are the entry of competitors. the threat of substitutes. the power of the buyers. the power of the suppliers. and competitive rivalry amongst the existing firms. There is huge competition from neighboring countries like China, India, Japan, etc which are all developing economies and offer huge cut-throat competition. Hence, Zeta would need to adopt an innovative approach and competitive market strategy to meet the challenges from various areas as mentioned.
Indeed, the business dynamics within the developing economy of Vietnam are also undergoing a dramatic transformation. The use of information technology and its application would help the business houses to evolve new strategies and analytical packages that would improve .their core competencies and production.