Prepare a new mindset for a new strategy

Chairman of Dat Xanh Group Luong Tri Thin: Prepare a new mindset for a new strategy

At the 2024 Annual General Meeting of Shareholders of Dat Xanh Group, Chairman of the Board of Directors Luong Tri Thin expressed many ambitious business plans this year. Ambition comes with many challenges, and according to him, Dat Xanh is capable of achieving those goals because it has fully prepared resources, especially human resources with a talented CEO team.

Having gone through a difficult period for the economy in general and the real estate market in particular, does that make an ambitious person like you feel discouraged and tired?

I am still the same as ever. In the stories I tell, in selecting and training the leaders of member companies (CTTV) to inspire and entrust future success, I always direct the Group's leadership generation to big goals, which are sustainable business development, increasing contributions to society, and commitment to shareholders. By setting such ambitious and far-sighted goals, the recent difficult period is just a necessary experience for the sustainable development of an organization.

I often share that the pandemic years, the days when business did not progress due to market factors, objective factors... were all valuable experiences for my leaders to have a longer-term vision, more perseverance and courage on the Group's upcoming 20-year journey. To be precise, challenges are always learning opportunities for ambitious people.

According to Mr. Luong Tri Thin, the plan to empower the next generation of leaders is the most suitable test, aiming at the sustainable development of Dat Xanh Group.

Recently, many business leaders often talk about “succession plan”. Do you apply this to your business?

“Succession plan” is often understood in many ways. The most common definition is the generational transition when senior leaders are old, or the preparation for the organization to have a succession plan for one or several key leadership positions.

I still prefer the second understanding. In fact, this plan has been in my mind since Dat Xanh was first established, that I must train 100 CEOs when the Group turns 20 years old. Many people thought this plan was not feasible; but in the end, we still did it, and did it most successfully. Looking at the leaders rising from the lowest position to the highest position in each CTTV, I think that success is the effort of the entire Dat Xanh system, not just me.

In the past, when the company was small, I held many positions and made many decisions every day. Now I am proud to say that Dat Xanh is managed and operated by many special factors, including a team of capable, professional CEOs who have studied abroad and have practical experience at the Dat Xanh Group system, a modern technology platform, through laws, deeply embedded in which is the way the apparatus makes decisions scientifically.

From another perspective, nothing will last forever without testing, especially a business. The advantage of having a team of courageous and enthusiastic CEOs who can make decisions to protect shareholders' interests, towards the development and benefits of the organization suggests to me the idea: why not test a plan to empower the next generation of leaders, thereby creating opportunities for themselves and Dat Xanh to move towards sustainability, testing the challenging problems of the market?

So this time, I will “illustrate” an independent leadership apparatus, without me in a key role.

Training successor human resources is one of the tasks that Mr. Luong Tri Thin has focused on over the past 20 years.

Can you share more specifically about this empowerment plan?

I will transfer the role of Chairman of the Board of Directors (BOD) and assume the position of Chairman of the Strategy Council. In an independent role, the Strategy Council that I manage is responsible for developing and planning strategies for the Board of Directors and the Executive Board on investment, business and important policy issues in all activities of the Group. This is also a challenging time, but also enough to prove the capacity of an Executive Board team that I have trained and built for a long time.

I am still involved in all operations, building, planning and implementing strategies for the entire system. Above all, this is also the stage for me to focus on preparing for the Group's bigger strategies and "games", serving the new development cycle of Dat Xanh in the medium and long term.

What does Dat Xanh expect to achieve from this process?

Dat Xanh needs to ensure continuous succession in key personnel positions, thereby ensuring the Group's continued operational efficiency in the future.

In addition to the human factor, succession is only successful when it helps the organization maintain and develop its knowledge and expertise, ensuring the use of these valuable assets in the future. In particular, in a real estate company like Dat Xanh, this is a vital factor because practical experience, investment strategies, and anticipating market trends contribute significantly to the success of the entire company in each new market cycle.

In short, all results are aimed at the goal of planning a corporate governance model according to international standards, including the following factors: transparency, empowering talent to develop, important decisions not depending on a single person, and further perfecting the technology platform.

For example, in recent years, we have established an Investment Council. This is an agency with the authority to appraise, analyze, and evaluate based on scale, cooperation structure, and investment... to make the final decision. A close-knit apparatus, with a realistic market view, and utilizing the skills, experience, and analytical capacity of the CEO team will help prevent risks and increase the efficiency of the Group's investments.

Or the establishment of a Strategy Council, which will operate in an independent role to build, plan and implement strategies in all important decisions in the system.

Dat Xanh Group Headquarters Building

At the recent 2024 Shareholders' Meeting, you mentioned management and business technology. How will this help Dat Xanh in the new market context ?

The real estate market is always cyclical. Humans are not the only factor that affects the planning and operation of a business. Therefore, investing in management technology platforms and business technology is more than just a matter of business survival.

The completion of the technology platform also greatly supports us in remote work management, improving productivity, and at the same time, understanding the Group's business operations better through data and market analysis. Technology also helps the Board of Directors not to depend on being tied to an office chair, and to be more flexible in balancing their daily time budget.

I believe that investing in technology also helps Dat Xanh be proactive in planning organizational work, improving productivity, and important decisions can be made right at the middle management level.

In current operations, technology plays a key role in business management. It can be said that Dat Xanh is a company that invests heavily in technology application. We have cooperated with FPT to deploy ERP on the SAP platform and officially went live on July 1, 2024 throughout the entire system. Dat Xanh is also a pioneer in developing real estate business technology (proptech) over the past 6 years. Thanks to that, up to now, we have owned a technology platform to serve sales, operational management and effective customer care.

As you have shared, Dat Xanh always builds long-term strategies during its operations. In the current context, what is the new strategic direction of Dat Xanh Group?

In the long-term strategic goal of 2025 - 2035, with a multi-industry and multi-field orientation based on exploiting strengths, Dat Xanh Group will take advantage of existing core business areas, creating strengths as a premise to penetrate new markets in the real estate industry ecosystem.

In the near future, Dat Xanh Group will focus on large-scale projects, urban areas, and target product segments that meet the real housing needs of the market, in line with the new real estate development cycle 2025-2035 for potential markets such as Dong Nai, Ho Chi Minh City, Binh Duong, and other provinces across the country. Focusing on core business areas: technology-based real estate services, and real estate development will always be the priority and important task of the company's Board of Directors.

2024 is the first year in the next 20-year development cycle of Dat Xanh Group. Dat Xanh's assets are not only strong financial resources, but also a strong brand system, rich practical experience represented by a system of brave CEOs across the country. I believe that the individual and the talented successor team will join forces to perfect the medium and long-term strategies that the Group and shareholders trust and entrust.

Source: https://baodautu.vn/chu-cich-hdqt-tap-doan-dat-xanh-luong-tri-thin-chuan-bi-tam-the-moi-san-sang-cho-chien-luoc-moi-d219158.html