Vietnamese-American Leadership Summit 2011_ A Strategy for

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					Vietnamese-American Leadership
        Summit 2011:
  A Strategy for Creating a Prosperous

  Corporate Leadership, Entrepreneurship, and Economic
            Development Committee (CLEED)

                            Draft 2.0
                  Last Modified: June 19, 2011
                    Last Reviewed: Tino Dinh
• Context: Vietnamese-American Leadership
  Summit Goals
• Track 2 Objectives: Building a Prosperous
• Challenges and Current State
• Track 2 Strategy
• Focus on Structure
• Action Plan
                          Track 2     Current
               Context                          Strategy   Structure   Action Plan
                         Objectives    State
Context: Vietnamese-American Leadership
              Summit Goals

                        Track 1: Political

                        - Leadership and
                        Unity of Purpose
                         - Organization
                          and Strategy
                          - Resources

                                                 Track 3:
            Track 2:

                          Track 2            Current
            Context                                         Strategy   Structure   Action Plan
                         Objectives           State
Track 2 Objective: What Do We Want?
• VA Summit Mission: To Build a Prosperous and
  Influential Community
  – CLEED Mission: Create an action plan that
    describes how to build a prosperous Viet-Am
  – Action plan = strategy that is in the self-interest of
    Vietnamese-American business people to execute
  – Summit brings people and ideas together to
    create the action plan and identify the resources
    and people to execute it
                             Track 2     Current
                  Context                          Strategy   Structure   Action Plan
                            Objectives    State
    What Do We Want?: Defining Prosperity
•   Creating SMART (Specific, Measurable, Attainable, Realistic, Timely) Objectives
•   What Does a ‘Prosperous Community’ Mean
     –   Overall Wealth of Community?
           •   Total $$ Wealth
     –   Individual and Family Wealth?
           •   $$ Wealth/Household
           •   % Poverty
           •   Educational Attainment
     –   Closing the ‘gap’?
           •   Gini coefficient (wealth disparity)
     –   Systemic characteristics of ‘successful firms’
           •   Scalable
           •   Sustainable
           •   Capitalizes on unique competitive advantages of Viet-Amer Community
     –   Firms?
           •   First to enter Fortune 500
           •   First 10 to break $100MM revenue
           •   First globally-recognized brand?
           •   First franchise to open internationally?
           •   Publicly traded
           •   ‘Best place to work for’

                                                           Track 2     Current
                                            Context                                  Strategy   Structure   Action Plan
                                                          Objectives    State
      Current Challenges: A Hypothesis
•   Most Vietnamese-American businesses are ‘mom and pop’ stores that:
     –   Struggle financially
     –   Cannot be expanded beyond family or passed to the next generation
     –   Concentrated in low-skill industries that are vulnerable to price competition, outsourcing, or
         economic downturn
•   Though certain Vietnamese-American firms and individuals may be very successful, they are
     –   They are examples of individual success, rather than any institutional capacity
•   There is no ‘system’ in place that recognizes the unique challenges faced (or advantages
    enjoyed) by Vietnamese-American entrepreneurs and facilitates their success
•   Beyond immediate family or personal relationships, there is little trust amongst Vietnamese-
    American firms and hence a lack of cooperation or collective action to achieve common
•   Vietnamese-Americans executives are under-represented in Fortune 1000 firms
•   No good, comprehensive data on the state of Vietnamese-American businesses as a whole
     –   There is little transparency amongst Vietnamese-American businesses as a whole, who are mostly
         ‘cash and carry’ due to mistrust of government tax authorities, and others in the community
         (‘survival mentality’)
     –   Vietnamese-Americans may be an attractive market for other businesses/products/services---but it is
         hard to verify this without data

                                                   Track 2       Current
                                    Context                                   Strategy     Structure      Action Plan
                                                  Objectives      State
     Current State: SWOT Analysis of Vietnamese-
         American Business Community Today
                                Strengths                                                                     Weaknesses

• Very successful entrepreneurs
•Many very highly educated professionals                                          •Mostly ‘mom and pop’: cannot be sustained or scaled beyond family
•Multi-lingual and ‘ambicultural’                                                 •Mostly low-value industries
•High levels of personal savings                                                  • Goods and services mostly catering to fellow Vietnamese—customer
•Agile: quick to seize business opportunity; natural ingenuity and                 base now expanding due to improving quality
 resourcesfulness                                                                 •‘Cash and carry’—lack of transparency
•Strong informal networks: willing to assist each other                           •‘Survival mentality’ favors maximizing short-term vs. long-term
• Naturally independent, self-organizing                                           rewards
                                                                                  •Lack of mutual trust—many unwilling to trust each
                                                                                  • Disorganized; resistant to centralization

                             Opportunities                                                                      Threats

• Vietnamese are well-represented in high-growth industries: IT,                  •Global economic recession (especially hitting real estate, service
 health care                                                                       industries)
•Globalization: rapidly expanding US-Vietnam business ties = new                  •Globalization: outsourcing of labor/services
 markets, cheaper sources of parts and labor                                      •Price-competition in traditional industries (nails, restaurants)
• Many natural allies amongst small business, minority, and                       •Assimilation of second and third-generation Vietnamese =
 Asian-American business interests                                                 decreasing affiliation with common identity
•Second generation of successful Vietnamese-American
 entrepreneurs and executives willing to give back

                                                                      Track 2          Current
                                                     Context                                             Strategy          Structure       Action Plan
                                                                     Objectives         State
   Track 2 Strategy for a Prosperous
  Vietnamese-American Community

Build Structure: Strengthen Chambers of
  Commerce, Networks, Associations

     Build Capacity: Human, Intellectual Resources

        Increase Access to Capital: Making Our Community a Destination
                                   for Investors

                                     Track 2     Current
                          Context                          Strategy   Structure   Action Plan
                                    Objectives    State
Track 2 Strategy for a Prosperous Vietnamese-American Community
                    ‘Crawl’ (Year One)                 ‘Walk’ (Year Two-Five)                 ‘Run’ (Year Six-Ten)
  Objective         Identify Existing                  Pool, and Allocate                     Create Globally
                    Resources; Mentorship              Resources Efficiently;                 Competitive Brands
                    and Learning from                  Work as a Community                    and Companies
  Build Structure   -Collect data on VietAm biz and    - Establish strong governance          - Serve as an example for
                    networks                           structure (National and regional)      other communities
                    -Strengthen Chambers of            - Have professional chambers           - Lead Strategic Alliances
                    Commerce nation-wide               (esp. National-level staff)            - Lead professional
                    - Link professional Networks       - Have strategic alliances             associations
                    -Establish online                  - Have effective networks              -- Businesses arise from
                    communication platform and         - Influence issues                     availability of Viet-Am
                    database of businesses                                                    business data

  Build Capacity                                       - Identify strategic industries        - Create innovative products
                                                       - Find or create new markets for       and services
  (Human and                                           products and services                  -Have IP and legal protections
  Intellectual                                         - Build large pool of professional     - Field senior corporate
                                                       service providers                      executives and successful
  Resources)                                           - Build large pool of corporate        start-ups
                                                       executives (500 in 5)                  - Create globally-recognized
                                                       -- Develop standardized resource       brands
                                                       prrograms                              - Create large firms

  Access to                                                                                   -Attract Private Equity and
                                                                                              Venture Capital
  Capital                                                                                     - Create Vietnamese capital
                                                                                              market to allocate capital

                                                       Track 2
                                      Context                       Current State      Strategy       Structure       Action Plan
                       Vietnamese-American Business Community:
                                  Current and Future
Current State: Uncoordinated Individuals                                 Future State: Formal Governance Structure
     and Groups, Loose Networks                                                  and Coordinated Networks

                   VA Leadership Summit
                  ‘Track 2’ CLEED Steering                                                 Local

                                               National                                                        Strategic
                                             Vietnamese-      Professional
   professional                                                                                                Alliances
                                              American        Associations
                                             Chamber of
                   Local Vietnamese-
                  American Chambers of                                                     New

                                                                Technology, Governance               Mandate, Taskings, and
                                                                  Structure, Expertise                    Resources

                                                             Track 2         Current
                                                  Context                                 Strategy     Structure     Action Plan
                                                            Objectives        State
  Proposed Governance Structure
• Nationally Representative Board of Directors
   – Regional, state, or city representation?
• ‘New Committee’
   – Professional Staff at National VietAmCham;
   – National Network of Experts
   – Delegation volunteers/liaisons to Local Chambers
• Liaisons to specific industries and Viet
  professional associations
• Liaisons to strategic alliances (non-Viet)
• Insert MAP here
                               Track 2     Current
                    Context                          Strategy   Structure   Action Plan
                              Objectives    State
         Structure Action Plan: Year One
•   Local Chamber delegates will lead outreach to their local communities:
     –   Build consensus and buy-in for Action Plan’s central objectives and new VietAmCham Governance Structure
     –   Receive and incorporate feedback from local business owners, executives
     –   Identify significant regional challenges or opportunities that can be successfully addressed at the National level
     –   Share findings with New Committee
     –   Develop membership campaign to be implemented locally
•   New Committee will inventory and reach out to existing Vietnamese-American business associations,
    professional groups
     –   Issue report on state of VietAm business organizations
     –   Coordinate national membership drive
     –   Identify funding for permanent staff
     –   Coordinate joint membership fee for national/local chambers of commerce
•   Build Alliances: New Committee will Identify/reach out to like-minded regional and national
    organizations (SCORE, Skoll Foundation, Kauffman Foundation, US Chamber of Commerce, TIE, etc)
     –   Work with Track 3 to “adopt” a local chamber
•   New Committee will create technology platform or portal to serve as central repository of info and
    networking, refine Strategy and Action Plan
     –   Establish national database of VietAm business leaders
•   Break out to-do list by type, delegations (local outreach) vs. staff (natl coordination)
•   Identify staff

                                                      Track 2        Current
                                      Context                                       Strategy      Structure     Action Plan
                                                     Objectives       State
                             Timeline for Structure Action Plan
       Mar            Apr    May   Jun      Jul      Aug       Sep     Oct     Nov        Dec     Jan       Feb    Mar        Apr    May         Jun      Jul
      2011J           2011   2011 2011     2011      2011     2011    2011     2011       2011   2012      2012    2012      2012    2012       2012     2012
Build Structure and

                       CLEED Forms; self-organizes

                                               VA Leadership Summit:


                                              First Draft of

                                                                              Track 2            Current
                                                            Context                                               Strategy          Structure          Action Plan
                                                                             Objectives           State

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