FPT IS Leadership: Innovation is the key to creating competitive advantages in the VUCA era
Amid the challenges of competition for Vietnamese businesses in the VUCA era and the demand for innovation in corporate governance, Mr. Phan Thanh Son – Executive Vice President & Chief Business Development Officer of FPT IS – along with other leaders and experts, shared insights and proposed technology-driven solutions to help businesses optimize operations and enhance sustainable growth.
The National Scientific Conference on “Innovation in Corporate Governance” was co-organized by the Foreign Trade University in collaboration with the Communist Party of Vietnam Online Newspaper, the Vietnam National Innovation Center, Vietnam Chamber of Commerce and Industry – Enterprise Development Institute (VCCI-EDI), and leading technology firms such as FPT and Viettel. The event aimed to connect experts and leaders to discuss and explore innovative solutions for corporate governance, focusing on key topics such as: developing spin-off businesses and start-ups within universities, the impact of green human resource management on employee behavior, and strategies for governance innovation in the VUCA era.
Experts and leaders shared recommendations for technology-driven solutions to help businesses optimize operations and enhance competitiveness.
In his opening remarks, Assoc. Prof. Dr Dao Ngoc Tien, Vice President of Foreign Trade University, emphasized: “The context of digital and green transformation and sustainable development is reshaping how businesses operate. Therefore, companies must innovate not only in their products and services but also in their organizational and operational models. Fundamental innovation is essential to enhance competitiveness and succeed in the race against foreign enterprises.”
Mr. Pham Duc Thai, Deputy Editor-in-Chief of the Communist Party of Vietnam Online Newspaper, stated that in the era of digital technology and sustainable development, the demand for innovation in governance models and technology adoption has become a decisive factor for the survival and growth of businesses.
During the conference’s panel discussion on the theme “Flexible Management or Innovation Management in the VUCA Era,” Mr. Phan Thanh Sơn, EVP and Chief Business Development Officer of FPT IS, affirmed that “flexibility” is the key to stability and sustainability amid uncertainty. He highlighted that technology and innovation are foundational to creating competitive advantages for Vietnamese enterprises. Mr. Son elaborated: “The VUCA context drives uncertainty, disrupting traditional norms and shaping a new world. Businesses must adopt long-term strategies to both adapt to and prepare for this emerging reality. This transformation cannot be achieved in a short time but must be developed and implemented within the VUCA context as an integral part of corporate strategy.”
To adapt and transform, businesses must adopt flexible business and operational models, foster a culture of innovation, and leverage technology to enhance analytics and forecasting, enabling data-driven decision-making. Citing the transformation during the Covid-19 pandemic, FPT promptly adapted by shifting entirely to a “wartime” mindset with “10 transformations” policy, implementing numerous solutions to adapt to the new normal. These experiences were encapsulated in the FPT.eCovax solution suite, designed to help businesses maintain uninterrupted operations during the pandemic and establish systems to prevent future outbreaks in corporate environments.
Reflecting on FPT’s journey of accompanying Vietnamese businesses in digital transformation for, Mr. Phan Thanh Sơn noted that successful and agile innovation in digital transformation must stem from the vision and determination of leadership. Many digital transformation efforts fail because businesses are unsure where or how to begin, or because they approach digital transformation from a technology-first perspective rather than aligning it with corporate strategy and goals.
At FPT, the 3H + 3S formula, distilled from the FPT Digital Kaizen methodology, is applied. According to this approach, to achieve a “revolution” in digital transformation, businesses need to start with “Heart” – inspiring and fostering enthusiasm for digital transformation throughout the organization. Next comes “Head” – strategic planning, followed by “Hand” – hands-on execution. Business leaders must inspire and ignite the desire for change at all levels of the organization, demonstrating that digital transformation is about seeking new opportunities for the business, driving growth, and enabling employees to achieve better incomes and greater opportunities for advancement.
Additionally, companies must continuously foster creativity and a culture of innovation. This enables the organization to easily adapt its strategies and processes when faced with complexity and uncertainty. For example, the FPT Innovation Award – iKhiến aims to identify technological innovations that improve both economic efficiency and management practices. To date, through the iKhiến program, FPT has recorded over 7,000 innovative ideas. Many technological products have been developed, increasing labor productivity by 30%. Several ideas have been commercialized, becoming flagship products in the Made by FPT ecosystem, such as akaBot, FPT.AI, semiconductor chips, and recently, the VértZero greenhouse gas inventory solution.
Mr. Phan Thanh Son, EVP and Chief Business Development Officer of FPT IS, affirmed that “flexibility” is the key to stability and sustainability amid uncertainty
To support businesses in innovating their management systems through technology, Mr. Son proposed the adoption of intelligent management systems, coupled with the integration of new technologies such as Cloud, AI, and Machine Learning. “With over 30 years of experience in digital transformation for critical backbone systems and major projects for domestic and international clients, FPT IS has distilled our knowledge into integrated management solutions. These solutions help businesses automate processes, analyze real-time data, and make immediate decisions, thereby enhancing competitiveness. This is achieved by leveraging ERP core management systems in conjunction with the Made-by-FPT ecosystem to maximize application efficiency,” he explained.
“As a leading technology partner, combined with the strategic collaboration opportunity with Foreign Trade University, we aim to foster a culture of innovation and share knowledge with the younger generation of Vietnam. Together, we strive to create new technological products, enhancing Vietnam’s competitiveness and promoting sustainable development in the evolving global landscape,” Mr. Son emphasized.
