RMIT Vietnam business students gained insight into how a global classifieds company operates with a visit from the Vietnam managing director of Carmudi, Jack Nguyen.
Mr Nguyen and his Carmudi team are working on a class project with around 150 management and marketing students to develop a strategy business plan in a class co-ordinated by Dr Susan Mate.
“Carmudi started up in Vietnam in 2014 listing car and motor bikes for sale and connect with 500 car dealers across the country. They are part of the Rocket Internet family and currently have a presence in 20 countries,” Dr Mate said.
“Over the past few months the students have been working in project teams to apply strategy theory to research the Carmudi Company and develop a strategy plan as part of their assignment work.”
Mr Nguyen, who came to Vietnam from New York to run Carmudi, filled in students about his company, including a SWOT analysis, speaking to them about what’s involved in building an online company, followed by a Q&A session where the students gathered assignment information.
“We are a sales listing e-commerce company – we don’t actually sell cars,” he said.
“While the market in Vietnam currently is hugely focussed on motorbikes, car ownership is growing fast. This gives big opportunities to a company like ours.”
Mr Nguyen emphasised the importance of co-branding through partnerships and balancing the cost of different types of advertising with their effectiveness, noting the difficulties of doing business in Vietnam: lengthy contract establishment time and inefficient payment methods.
The Carmudi staff will return to RMIT Vietnam to hear students’ recommendations for the business to develop and grow.
Dr Mate said many students have enjoyed working on a real life case as this helps ‘bring the theory to life’, giving them practical feedback and relevant employability experience.
“Integrating work with learning is one way that students engage with their project learning,” she said.
“Forming partnership relationships is another form of collaboration other than internships that can assist students gain practical ability in developing their graduate attribute skills."