Working environment in private sector vef presentation
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Private sector companies offer exciting growth opportunities compared to government and foreign companies. While private companies were once small, they have grown rapidly at an average of 11.9% annually and will account for nearly as large a share of GDP as foreign companies by 2017. Working for a private company provides the chance to change the world by building something great that serves people and aligning smart employees toward common goals, which is difficult as an individual or non-profit. However, there are also risks like needing capital, dealing with regulations, and facing heavy competition. It is important to pick a private company with long-term growth potential and a meritocratic, professional culture.
Working environment in private sector vef presentation
- 1. Private Sector: Your growth opportunities2nd VEF Alumni ConferenceLe Hong MinhCEO, VNG Corp
- 2. Popular career path if you graduate in…1990-2000: Government sector (some more studies) Government sector or Private companies2000-now: Foreign companies (some experience) Foreign companies or Private companiesPrivate companies are not first choices…but are often the destination
- 3. Private companies are still small…
- 4. But growing very fastGrowth rate of 3 major sectors (%) 2000-2008 (Source GSO)
- 5. And offer exciting opportunities2009-2017 red numbers are assumptionsPrivate companies in 2017 is nearly as significant as foreign companies now (% GDP)5% point in GDP but 2.5x growth in size (@11.9% average growth)Different sectors can have faster opportunities (Hot ones are Finance, Real Estate, Retail, Tech)
- 7. Comparisons between the 3 sectors
- 8. Risks with Private companiesIf you starting one:Capital & resourcesRegulatory environmentHeavy competition(Lack of quality people)If you working with one:Pick the right company (long-term growth capabilities)Pick the right environment (meritocracy, share of success, strive for professionalism)
- 9. Change the worldBuilding a company is the best way to change the world:Align the interests of a lot of smart peopleBuild something that’s great and that serves people (to receive value)You can’t do that if you’re an individual, because it’s just you (and no one to align)if you’re a non-profit, because you have no resources and you’re constantly ask for money instead of generating it and being self-sufficient
- 10. Thank you