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Group 11 Project Proposal 1

Accounting (Đại học Hà Nội)

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HA NOI UNIVERSITY
FACULTY OF MANAGEMENT AND TOURISM
---------------oOo---------------
CAPSTONE PROJECT

PROJECT PROPOSAL
PROJECT ON DEVELOPING POSSIBLE PROPOSAL FOR THANH LAM
LIMITED LIABILITIES DURING COVID-19 EPIDEMIC

Major: Finance and Banking

Instructor: Mr. Nguyen Xuan Truong

Date: March 7th, 2022

Members (Group 11 – FB Students):

Nguyễn Lê Hà My ID:1804010069

Nguyễn Thị Ngọc Ánh ID:1804040020

Phạm Ngọc Khánh Linh ID:1804040068

Tống Phương Linh ID:1804040070

Phí Thị Bích Phương ID:1804040094

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TABLE OF CONTENTS

ABSTRACT .................................................................................................................................................. i

1. Problem statement ............................................................................................................................. 1

2. Literature Review.............................................................................................................................. 2

3. Method of Inquiry ............................................................................................................................. 3

4. Work allocation among group members based on the required tasks to be completed. ................... 5

a. Project proposal ............................................................................................................................ 5

b. Rationale report ............................................................................................................................. 5

5. Timeline for completion of the capstone, including a proposed schedule for meeting with an
advisor(s), deadlines for completion of research and chapters/sections, projected defense date. ............. 5

6. Potential obstacles and the feasibility of the proposed capstone. ..................................................... 6

REFERENCES ............................................................................................................................................ 8

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ABSTRACT

The growing of the covid-19 pandemic has contributed to rising greatly affected
the business activities of enterprises, which Thanh Lam company has faced to the
difficulties in recent years. The dominant explanation for this trend is because of
delaying works, construction and insufficient resources that have caused a
serious impact on company input. Previous research has primarily relied on
reality data to analyze difficulties that companies are facing and offer solutions to
improve on the firm’s operation. In our research, we use real data collected from
the company to decompose business performance between 2019 and 2021 leading
to a decrease in the revenue of Thanh Lam company. The findings indicate that
the rise of difficulties to operation is explained by spending much more budget for
epidemic prevention while business activities are almost halted and stopped due
to social distancing. This leads to the company not making a profit, the budget is
increasingly depleted, and the debt is increasing day by day. Therefore, this
writing offers some measures for the company to apply during these difficultt

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1. Problem statement

The COVID-19 pandemic caused an effect on the global economies, including Vietnam. During
the it’s raging, many companies had been in difficulties to stand and keep operating. If the large
ones or government companies were struggling, how were small ones? Therefore, we did
research on Thanh Lam Limited Liability Company to find out the effectiveness on it’s operating
during the global pandemic.

Thanh Lam Limited Liability Company is responsible for Surface Preparing and Administrative
Activities and Support services. The services are diversified; however, in this report, we
concentrate on Building, Surface Preparing to be specific and Education in Preschool and
Primary, which are in difficulties recently.

We have discovered problems that the company was facing. In the field of construction, due to
the impact of the Covid epidemic, work delays, construction and insufficient human resources
have caused a serious impact on company input, resulting in stagnation. Furthermore, the
shortfall in the budget has resulted in the company having no basis to hire new human resources
and had to borrow to pay salaries and to maintain the existing human resources. In the field of
schools, students could not go to school directly, thus they are required to cut a part of tuition
fees for students. They still have to maintain facilities and result in shortage of funds, so the
school is forced to borrow to manage capital. In addition, the school must also invest more in
Covid19 prevention equipment such as: air purifiers, sanitizers and masks for each class to
ensure the safety of students returning to school.

Facing these financing problems, the Thanh Lam Company chose to borrow from banks. We
based on their financial report to see whether there were any improvements on the firm’s
operation. Our main questions are would their use of loans be effective and whether the capital
could be used otherwise to bring profits to the company. This question will be discussed in this
writing.

In providing a solution for businesses, we find that the most difficult thing to solve is the
epidemic situation. Due to the complicated evolution of Covid19, because there are many new
strains and they develop in a way that is difficult for humans to control, it is very likely that in

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the future, the epidemic will break out again and that will make the industry more difficult to
control. The company's work might be delayed again, then it will be very difficult for the
business to both rotate capital, repay debt and maintain employees as well as the business.

In this project, we will carefully analyze the remaining problems of the business and suggest
solutions to help the company in the business. In our opinion, this project will help businesses
improve the situation of capital shortage and the need to borrow capital, helping the business
have a new direction to rotate the situation, repay debt and earn profits in the near future.

2. Literature Review

The Covid-19 pandemic has been taking place in an unpredictable way in most countries around
the world, including Vietnam. This is also considered an issue that has received a lot of attention
and researches have been exploited. In Vietnam, the research topic on the impact of the Covid-19
pandemic on the business of enterprises is as follows:

Research paper “Đánh giá các chính sách và ứng phó với covid-19 và các khuyến nghị” by
author group, Neu- Jica (December 2020), has studied about the status and extent of impacts of
Covid-19 on the economy and businesses, evaluate the effectiveness of policies to respond to
Covid-19, thereby providing an important basis for making recommendations and policies in the
next period to overcome difficulties, recover and develop. The research shows that, due to the
impact of the pandemic, many economic activities have been halted and reduced, which has
negatively affected state budget revenue. Meanwhile, the demand for spending in epidemic
prevention is increasing. From the given impacts, the research team has proposed short-term and
long-term solutions to solve the backlogs and impacts of the pandemic on businesses in the
country.

The report “The Impact of COVID-19 on Small Businesses’ Performance and Innovation” by
Ronen Harel (September 2021), shows that the impacts of the covid-19 pandemic on the
revenues of small businesses operating in industrial sectors and at the extent to which these
businesses changed or adjusted their business activity. The report also gives specific options and
innovative processes to overcome difficulties in enterprises.

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The project “Project on developing possible strategies for Thanh Lam limited liability company
during COVID-19 the epidemic" also mentioned the impacts of COVID-19 on activities such as
the suspension of projects construction, complete closure of educational institutions.

From the review of domestic and foreign research documents, it can be seen that the research
topic on the impact of the Covid-19 pandemic has attracted a lot of attention from researchers.

This project will provide further research than the existing reports. Through the study, evaluation
and specific analysis in the research paper, we will have an objective view of the impact of the
Covid-19 pandemic on Thanh Lam LLC. From that practical basis, recommend and propose
appropriate policies that have the most direct and effective impact to remove difficulties for the
industry during the Covid19 pandemic.

3. Method of Inquiry

During the crisis of pandemic COVID 19, all countries, especially Vietnam, were urged to
implement a general lockdown in an attempt to slow down its spread, and this has been a lengthy
process. In addition to its impact on public health, COVID-19 has also caused a major economic
shock on many companies in Vietnam, as well as Thanh Lam Company. Given these gaps,
Fabeil et al. state there is a lack of research on pandemics and their effects on firm management,
and so this study aims to perceive how Thanh Lam Company has faced the disruption caused by
the lockdown, how they cope with this unique challenge and what the consequences for their
business. The main contribution of the study lies therefore in confirming that Thanh Lam Co. is
seriously affected by the economic and social crisis caused by the pandemic. Both their
architecture branch and pre-school are in financial crisis during the lockdown due to the
pandemic.

In the proposed paper, four types of analysis are needed for this study. First, in order to provide a
description of the sample from which data will be collected, descriptive information on the
company expense and profits will be observed. Second, to determine their revenue and profit, the
company’s annual income statement will be determined during the epidemic period. Third, to
determine the change in the firm’s balance sheet, it is needed to determine their financial report
during the year 2020 and 2019. Moreover, it is essential to see how much owner's equitíe and

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liabilities increase or decrease in this period by examining their accounting books so as to

determine their financial status and problems. If they borrowed from banks to keep the company
stable, it would be also needed to observe their loan in the financial reports.

During the data collecting process, it is essential to ask the president of Thanh Lam Company for
his agreement to carry out the research. Prior to their distribution, an introductory email or a
phone call is required to the president asking for their cooperation and let him know in advance
when we will come visit his company. The email or phone call will describe the research and its
importance and support of the head of the company. Once the permission is granted, it is
required to pay the firm a visit and conduct a direct interview to find out their problems. An
explanation for the reason to do the research will be directed and a request for permission to
view the company financial reports and accounting book will be carefully asked. It is essential to
have the agreement and cooperation of both the president and the accountants of the company to
have access to their financial reports. After all the data is collected, a project proposal to draw
out the best strategies for the firm's future will be done. It is anticipated that all data collection
efforts will be completed within a week.

According to Problem Statement and the date which has been collected, Thanh Lam has faced
many obstacles both in finance and facilities. Therefore, some of the possible proposal is
recommended for the firm. Firstly, it is suggested the company to limit their assets on
administrative activities, make it strict and discuss this matter with the preschool about which of
the facilities are prior and which need support first. Secondly, hand sanitizer and mask, the
school can ask for parents to prepare for their kids and make regulations about it so as to reduce
the company’s expenses. Moreover, it is also encouraged that the firm reduce their employees for
some unwanted positions or cut the bonus payment. If they were in more crisis state, it is highly
recommended the company to even reduce the employees’ salary so it can be fully utilized to the
prior items with exact budget and expenses. If they were short in incomes from their currents
branches, merging with another small business or opening new one is also a solution but it will
required a huge source of capital. What’s more, during the time of lockdown due to epidemic,
Thanh Lam preschool can open a small online program about how to educate the children at
home during COVID-19 and things they need to do during epidemic. This might help the school
earn more prestige in the future, save some expenses and earn more incomes. In addition, these

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are the most possible solutions to their current problem and further proposal will be conducted to
bring the best proposal for Thanh Lam Company

4. Work allocation among group members based on the required tasks to be completed.

a. Project proposal
Phí Thị Bích Phương Abstract & A brief literature review
Nguyễn Lê Hà My Method & collect the real data from the company
Nguyễn Thị Ngọc Ánh Work allocation & Timeline
Phạm Ngọc Khánh Linh Problem statement
Tống Phương Linh Potential obstacles and the feasibility

All of the group members discuss the title of the project together.

b. Rationale report
Phí Thị Bích Phương Abstract & A brief literature review relevant to the chosen topic
Nguyễn Lê Hà My Introduction and Method
Nguyễn Thị Ngọc Ánh Results of the projects and edit form of the report
Phạm Ngọc Khánh Linh Problem statement
Tống Phương Linh Conclusions and action plan & Deliverables as an appendix

5. Timeline for completion of the capstone, including a proposed schedule for meeting
with an advisor(s), deadlines for completion of research and chapters/sections,
projected defense date.

Please note that you are advised to submit the proposal as soon as it is ready for approval before
commencing the project.
Proposed schedule for meeting with an advisor
Date Purpose
12/03/2022 Advisor review our project proposal and answer our questions
25/03/2022 Advisor read the draft introduction & problem statement and give the

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recommendation
02/04/2022 Advisor read the draft brief literature & method of inquiry and give the
recommendation
24/04/2022 Advisor read the draft results & conclusions and action plan and give
the recommendation
02/05/2022 Advisor read the draft report and give the recommendation
10/05/2022 Advisor read the draft report and give the recommendation
16/05/2022 Advisor read the complete report and give the recommendation

Deadlines for completion of research and chapters/sections

Date Problem
07/03/2022 Project proposal
22/03/2022 Introduction & Problem statement
31/03/2022 A brief literature review relevant to the chosen topic
31/03/2022 Method of inquiry
10/04/2022 Results of the projects
20/04/2022 Conclusions and action plan
23/04/2022 Deliverables as an appendix
30/04/2022 Edit form of the report
18/05/2022 Edit the complete report
23/05/2022 Final deliverable
23/05/2022 Rationale report

Projected defense date: 26/05/2022

6. Potential obstacles and the feasibility of the proposed capstone.

In the course of the project, there are bound to be potential problems that can arise. The first
problem to be confirmed is the company we are researching is a private company with not too
large scale, so it is likely that it might be difficult to get the necessary data from the company.
The second problem was determined to be due to the impact of the Covid epidemic, so it would

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be difficult to directly interview businesses to get specific opinions and data for the research
paper for precise view. However, these issues can still be resolved satisfactorily, so regarding
the authenticity of the project, we confirm that it is completely feasible to choose Thanh Lam
company as the research object.

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REFERENCES

Masocongty.VN (n.d.). Cong ty TNHH Thanh Lam. Retrieved from:

https://masocongty.vn/company/382196/cong-ty-tnhh-thanh-lam.html

Kinhdiemtamquoc.vn (n.d.). Làm thế nào để biết doanh nghiệp lãi hay lỗ. Retrieved from:
https://kinhdientamquoc.vn/lam-the-nao-de-biet-doanh-nghiep-lai-hay-lo/

Neu-Jica, (2020). The report “Đánh giá các chính sách ứng phó với covid-19 và các kiến nghị”
Retrieved from: https://www.jica.go.jp/vietnam/english/office/topics/c8h0vm0000ecmc4u-
att/210305_02_vn.pdf

Ronen Harel, Global Business Review (September, 2021). The impact of Covid-19 on small
business performance and innovation. Retrieved from:

https://www.researchgate.net/publication/354362787_The_Impact_of_COVID-
19_on_Small_Businesses'_Performance_and_Innovation

Fabeil, N.F.; Pazim, K.H.; Langgat, J (n.d.). The impact of Covid-19 pandemic crisis on micro-
enterprises: Entrepreneurs’ perspective on business continuity and recovery strategy. Retrieved
from https://www.asianinstituteofresearch.org/JEBarchives/The-Impact-of-Covid-19-Pandemic-
Crisis-on-Micro-Enterprises%3A-Entrepreneurs%E2%80%99-Perspective-on-Business-
Continuity-and-Recovery-Strategy-

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