CEO Insights Magazine

ACEO who seamlessly blends seasoned experience, strategic foresight, and a great passion for fostering organizational and individual growth is the linchpin of a thriving enterprise. Such leadership not only navigates the complexities of the business landscape but also inspires and empowers the workforce. Similar to Tran Hang, an innovative CEO propels progress, guaranteeing flexibility in ever-changing markets and fostering a milieu conducive to the prosperity of both the organization and its individuals, enabling them to attain unprecedented levels of success.

As the CEO of Phu Thai Chemicals Corporation, Tran Hang epitomizes visionary leadership and strategic acumen. Also, Tran has navigated the company through a trajectory of remarkable growth, solidifying its position as a prominent player in the realm of chemicals and commodities trading. With a profound understanding of the industry, Tran brings over two decades of expertise to the table, demonstrating a remarkable journey across various prominent business development domains.

Below is an excerpt of Tran Hang’s exclusive interaction with CEO Insights ASIA magazine.

Could you give a brief account of your professional journey and what motivates your daily routines?

With over 25 years of experience as a Growth Specialist in the oil & energy industry, I've navigated diverse roles from Finance to Pricing, Sales, and Business Development. My journey is marked by a passion for driving profitable growth and a knack for transformative challenges. Achieving recognition such as three Global Shell Vice President Awards and a Top 7 Finance position in the 2017 Global Commercial Competition underscores my commitment to innovation and customer-centric strategies.

Daily, I draw motivation from setting challenging goals and crafting clear plans for their attainment. Strategy is crucial, but execution is equally paramount in my approach. This mindset has led to a successful stint as the Top CEO title of VIETTHAI Group, along with an exceptional performance at Phu Thai Chemicals Corporation in 2023. My professional narrative is a tapestry of strategic acumen, unwavering dedication, and a relentless pursuit of excellence, propelling me to tackle each day with vigor and purpose.

Define Phu Thai Chemicals Corporation as an organization and its position in the market.

Phu Thai Chemicals Corporation is a formidable player in the Chemicals and Commodities Trading arena, boasting a diversified portfolio across four core business lines: Chemicals, Paper, Wood, and Agriculture Industries. Our unwavering aspiration is to become a premier supplier of Chemicals and Commodities in our home country and the broader Asian market. Notably, our recent expansion into the woodchip and tapioca business has swiftly positioned us as a key exporter of these products. In the realm of Chemicals, we proudly rank among the top 10 solvent businesses in Vietnam. With branches spanning six cities domestically and extending our footprint to three international locales (China, Singapore, and Indonesia), our global presence mirrors our commitment to excellence and market leadership.

As the CEO, what are the factors you take into account when developing effective corporate growth strategies?

As the CEO, crafting effective cor­porate growth strategies requires a meticulous blend of factors to en­sure sustainable success. Foremost is people management, recogniz­ing that our talented workforce is the cornerstone of our business growth. Investing in schemes that motivate and empower employees is essential to harnessing their po­tential as valuable company assets. Strong leadership is paramount, providing a clear vision and deci­sive action plans to propel us to­ward our targets.

Maintaining a solid customer fo­cus is another key factor. Regular meetings with customers, sharing expectations, and market insights, and collaboratively devising action plans foster a symbiotic relation­ship crucial for business expansion. Strategic planning is ingrained in our approach, with a robust 5-year business strategy regularly reviewed and adapted to evolv­ing market dynamics. Additionally, a vigilant financial management plan, encompassing performance tracking, budgeting, and timely adjustments, ensures agility in re­sponse to market movements. This holistic approach defines our cor­porate growth strategies, ensuring resilience and prosperity in the dy­namic business landscape.

How is the team built and how do you guide your team to analyze customer satisfaction and resolve concerns?

In building our dynamic team, we prioritize a proactive approach to customer satisfaction analysis and issue resolution. Quarterly surveys, initiated at the beginning of each year, provide a comprehensive overview of our Customer Satisfaction Index. Customers are engaged in our Corporate Social Responsibility and service plans, and their feedback scored through a meticulous questionnaire, shapes our strategies.

Maintaining real-time connectivity is integral. Through SMS and live chat, we seek continuous feedback b eyond q uarterly s urveys. T his immediate interaction allows us to address concerns promptly, ensuring a holistic understanding of our customers' experiences. We keep an open line of communication, inquiring about product deliveries and service quality throughout the month.

Our customer service department spearheads a systematic process for complaint resolution. Templates streamline information gathering, enabling swift communication with relevant departments. Whether logistics or other aspects, teams investigate promptly, facilitating timely resolutions. Monthly reviews assess pending complaints, gauging the effectiveness of our responses and identifying areas for improvement. This iterative process fosters a culture of responsiveness, ensuring our team remains agile in enhancing customer satisfaction and resolving concerns efficiently.

What is the kind of approach you have instilled in the team to meet with best international practices?

In steering our team towards international excellence, I've cultivated an inclusive ethos that transcends borders. Our company, with offices spanning Vietnam and China, operates as a cohesive unit, blurring the lines between geographical distinctions. Embracing a singular team identity, our core values emphasize a shared purpose and unified goals encapsulated in a singular playbook. This extends beyond nationality; our team is devoid of local divisions, forging a collective spirit that permeates every aspect of our operations.

Communication is the linchpin of this approach. Regular updates ensure everyone is abreast of our business performance, fostering a sense of involvement and shared responsibility. By integrating team members into strategic discussions and business plans, we dismantle barriers and amplify their role in shaping our success story. Our commitment to language diversity, particularly encouraging the study of Chinese, underscores our dedication to understanding and serving our primary customer base. Additionally, leveraging communication tools like Google Meet and Zoom ensures seamless virtual collaboration, uniting our team even when physically distant. This holistic approach creates a workforce that not only feels valued and included but actively strives to elevate our business on the global stage.

What is the future destination you are headed towards?

The future destination for Phu Thai is an ascent to the summit of Vietnam's corporate landscape, emerging as a premier player in commodities and chemicals. Our strategic roadmap unfolds with a focused ambition to secure a position among the top three solvent service suppliers in Vietnam within the next three years. Precision is our guide, as we meticulously plan and execute strategies, leaving no room for ambiguity. A three-year plan and a meticulously forecasted execution plan underscore our commitment to achieving this milestone. In tandem, for commodities like machinery, widgets, and tapioca, we navigate towards a destination defined by market leadership. Identifying our strengths and distinct advantages, we craft detailed plans for each sector, shaping our trajectory toward becoming the foremost supplier. Here, the strategy lays the foundation, but our unwavering commitment to execution stands as the catalyst propelling us toward our envisioned future.

In light of your strong professional experience, what would be your advice to budding industry leaders in the field?

In the realm of industry leadership, my seasoned advice to emerging trailblazers is rooted in a profound understanding of the business field. Commitment is the linchpin; it forms the cornerstone of trust between leaders, companies, and stakeholders. To foster enduring relationships, budding leaders must not only meet but exceed commitments, demonstrating reliability and credibility. Building a growth plan becomes paramount, showcasing to stakeholders the blueprint for sustainable business expansion. Beyond industry specifics, this advice transcends sectors, emphasizing the universal importance of reliability in establishing lasting partnerships. Stakeholders seek not just suppliers but steadfast collaborators, necessitating a demonstration of unwavering commitment to ensuring a continuous and reliable supply. This, I believe, is the key to fostering lasting connections, earning trust, and laying the groundwork for sustained success in the dynamic landscape of business leadership.

Tran Hang, CEO, Phu Thai Chemicals Corporation

Tran Hang, CEO of Phu Thai Chemicals Corporation, boasts a distinguished professional journey spanning decades. With expertise in Finance, Pricing, Sales, Marketing, and Business Development, she has steered the company to new heights. Tran has garnered accolades, including three Global Shell Vice President Awards, affirming her excellence in 'Winning with Customer and Partners,' 'Growth Innovation,' and 'Innovative Growth.'