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Introduction to Management-MGT103
Lecturer: Nguyen Duy Hong

INDIVIDUAL
ASSIGNMENT
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NAME: Nguyen Son Tung

ROLL NUMBER: HS150529
DATE SUBMITTED: Tuesday, March 23, 2021

DECLARATION: I certify that this assignment is entirely my own work, except where I
have given fully documented references to the work of others, and that the material
in this assignment has not previously been submitted for assessment in any formal
course of study.

SIGNATURE: Nguyen Son Tung

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TABLE OF CONTENT

I. Introduction
A. The important of manager
B. The manager’s biography and the company/ organization’s info
II. Literature Review & Critical Analysis
A. Technical skills
B. Communication skills
C. Planning skills
III. Difficulties & Recommendation
IV. Conclusion
V. Reference List

I. Introduction
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A. The importance of manager

In recent years companies have increasingly focused on management, management

with the necessary skills is really important. The success of an organization can be
traced back to the way it is managed. Whether you are talking of a small to
medium-sized or a large establishment, management is so crucial to be overlooked.
(impoff, 2021)[1] Applying and using those management skills appropriately and
effectively will help the management gain success and high efficiency in the job. The
following is an analysis of how to use and apply management skills, how to train
and develop them through an interview of someone with management experience.

B. Manager’s biography and organization’s info

Manager’s biography

Name: Nguyễn Văn Dũng ( Steven

Nguyễn )

Academic level: Graduated from

high school in 2007

Location: Hanoi, NA - Vietnam,

Vietnam

Field of activity: Business

Contact
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Email: steven@luxstay.com

giaanhdung@gmail.com

Phone number: +84902242666

Working at: Luxstay, Netlink, Metub Network

Position in company: Chief Executive Officer

Organization’s info
Luxstay is an online platform of vacation rentals, established in Singapore in 2016,
and has strong activities in the Southeast Asian countries. Luxstay pioneers of
handmade hospitality for stays in the finest homes. Luxstay offers homeowners a
way to earn additional income from guests while they’re away, handling everything
from marketing to managing their house. It seeks out the finest homes, helps our
guests to book, and gives them the best services when they arrive. Luxstay is
invested by Genesis Ventures Japan & ESP Ventures Singapore, with the goal to
become the #1 luxury home-premium booking platform in Asia. Currently, Luxstay
claims they have around 15,000 listings, with around 20,000 monthly bookings and
a monthly growth rate of 20%. (rocketreach, 2021)[2]

Website: https://www.luxstay.com Employees: 59

II. Literature Review and Critical Analysis

A. Technical skills
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Technical skills are sets of abilities or knowledge used to perform practical tasks in
the areas of science, the arts, technology, engineering, and math. ... In most cases,
the acquisition of advanced technical skills requires specialized training or
education, which takes both time and resources. (Alan Farley, 2021) [3]

We often confuse soft skills with technical skills, soft skills help us adapt and develop
in the working environment, and technical skills help us to work highly professionally.
Steven Nguyen is exposed to technology early, so his technical skills are clearly
shown through his achievements. Steven Nguyễn tinkered to build a website, blog
and started earning his first money from the age of 15 from designing a hired
website. He has a passion for technology, he is determined to pursue it with the
desire to do something great. The Luxstay company he developed has become a
dominant player in the Home sharing market in Vietnam. Luxstay herself is also a
technology unicorn start-up, so Steven Nguyen's technical skills are clearly shown.

B. Communication skills
Communication skills are the abilities you use when giving and receiving different
kinds of information. Some examples include communicating new ideas, feelings or
even an update on your project. Communication skills involve listening, speaking,
observing and empathising. It is also helpful to understand the differences in how to
communicate through face-to-face interactions, phone conversations and digital
communications like email and social media. (Indeed, 2021)[4]

Communication skills are on the list of 21st century soft skills. It is very important for
us, particularly in jobs that require public communication, negotiation and
presentation. For Steven Nguyen, this skill is clearly shown through the famous TV
show Shark Tank exclusively for Vietnamese startups. Specifically, Nguyen Van Dung
is not afraid to express his desire to build this business into the first Vietnamese
unicorn (worth billions of dollars). CEO Luxstay calls for $ 600,000 for 1% of the
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shares (maximum issue rate of 20%, equivalent to $ 12 million, about 279 billion).
(shilfa, 2019)[5] This is the largest fundraising act in the history of Shark Tank
Vietnam. Investors were impressed with his communication skills and expressed their
interest in investing in Luxstay and growing together.

The ability to convey information accurately, clearly, and intentionally is an

important life skill and should not be overlooked. It's never too late to practice your
communication skills and that way you can see that you improve the quality of your
life.

C. Planning skills
Planning skills are the ability to think about and successfully manage activities, with
the help of any available resources, to achieve specific goals is known as one's
planning skills. Planning is basically a roadmap that guides us on how to complete a
task before attempting to begin it. (cleverism, 2021)[6]

The plans for the Luxstay company in the next 5.10 years were created and put into
operation by Steven Nguyen. Specifically, Dung identified the company as a
combination of three factors: real estate, tourism and technology. The technology
platform acts as a connecting intermediary to handle customer and business
requests.(Thu Phương, 2019)[7] Compared with traditional services such as travel
agents and brokerage services, with the development of technology applications,
customers can easily perform services over the Internet. Through the successful
fundraising on SharkTank, that capital will be used by Luxstay's CEO to invest in
technology development, attract customers and promote policies to support business
partners on the platform. Always looking at things and thinking positively, that is his
life motto, so Steven Nguyen's ability to plan and form important strategies for the
company is undeniable.
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III. Difficulties & Recommendation

A. Difficulties
Steven Dung identified himself as "the faulty version of the family" when he
dropped out of college, started his career at the age of 15, was skeptical of his
family, and questioned his future. (nguoiduatin, 2019)[8] So far, he has had a lot of
success to prove that he can work hard to develop. Besides, Steven Nguyen's
immediate difficulty is to compete with major competitors in the Homesharing field,
especially the big man Airbnb. That is not to mention the development of this type
of short-stay which has led to many headaches for homeowners such as fraud,
slander, sudden cancellation, or entanglement of legal proceedings complex
management.

B. Recommendation
To manage the company system and operate it most smoothly, in addition to the
above skills, Steven Nguyen needs many other skills to adapt to many situations and
situations. Most importantly, as a manager, we need a lot of time to adjust and
make decisions in the workplace, especially when you take on a managerial role.
Your responsibility is to guide the team to success, instead of relying on others, you
are the one for the team to look forward to.

IV. Conclusion
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Becoming a better manager isn’t something that magically happens overnight, it’s a
process that occurs by implementing simple tips and changing your current habits. It
is important to remember that every industry and company has different
management styles but these general tips can help improve daily interactions and
relationships between employees and managers. (celarity, 2021)[9] Don’t forget
that part of being a manager is helping your team stay organized and productive.
As a manager, a director of a rapidly growing company like Luxstay, Steven
Nguyen has had certain successes. And surely he and Luxstay will continue to
develop and succeed in the near future to become the iconic start-up of Vietnam
and reach out to the world.

"Good management is the art of making problems so interesting and their solutions so
constructive that everyone wants to get to work and deal with them. ''

-Paul Hawken-

V. References

[1] Impoff (2021). “Importance of Management In An Organization.” Impoff.

(online). (Viewed 20 March 2021). Retrieved from
https://impoff.com/importance-of-management/

[2] Rocketreach (2021). “Luxstay Information”. Rocketreach. (online). (Viewed 20

March 2021) Retrieved from
https://rocketreach.co/luxstay-profile_b45e7547fc750e45
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[3] Alan Farley (February 18, 2021). “Technical Skills”. Investopedia. (online).
(Viewed 20 March 2021). Retrieved from
https://www.investopedia.com/terms/t/technical-skills.asp

[4] Indeed (February 12, 2021). “Communication Skills: Definitions and Examples”.
Indeed. (online). (Viewed 21March 2021). Retrieved from
https://in.indeed.com/career-advice/resumes-cover-letters/communication-skills

[5] Shifla (July 28, 2019). “3 "sharks" compete for money”. Shifla. (online). (Viewed
21 March 2021). Retrieved from
https://shilfa.com/vietnam/3-sharks-compete-for-money/

[6] Cleverism (2021). “Planning”. Cleverism. (online). (Viewed 22 March 2021).

Retrieved from https://www.cleverism.com/skills-and-tools/planning/

[7] Thu Phương (August 28, 2019). “CEO Luxstay Nguyễn Văn Dũng: Tham vọng
trở thành “kỳ lân” biểu tượng của Việt Nam” (in Vietnamese). (online). (Viewed 22
March 2021) Retrieved from
https://baodautu.vn/ceo-luxstay-nguyen-van-dung-tham-vong-tro-thanh-ky-lan-bie
u-tuong-cua-viet-nam-d105949.html

[8] nguoiduatin (August 05, 2019). “Steven Dũng - ông chủ 30 tuổi của Luxstay :
"Tôi không giỏi nên luôn tìm cách thu hút người giỏi ở bên mình"”. (in Vietnamese).
(online). (Viewed 23 March 2021). Retrieved from
https://www.nguoiduatin.vn/steven-dung-ong-chu-30-tuoi-cua-luxstay-toi-khong-gio
i-nen-luon-tim-cach-thu-hut-nguoi-gioi-o-ben-minh-a444204.html

[9] celarity (2021). “10 Simple Tips to Become a Better Manager”. (online). (Viewed
23 March 2021). Retrieved from

https://www.celarity.com/blog/10-simple-tips-to-becoming-a-better-manager/