Teal Unicorn are working closely with Golden Communications Group, a Saigon media and communications company.Founded in 1998, Golden provides integrated marketing communications and advertising services in Vietnam: traditional advertising, media planning, and media buying. digital strategies, mobile marketing, campaign tracking, public relations, corporate or promotional events, television programs, gameshows, commercial films, billboard, and outdoor advertising spaces. .
Golden Communication Group, a prominent figure in Vietnam’s media and communications landscape, embarked on a significant transformation to enhance its operational efficiency and competitive stance. With a rich history spanning over 25 years, the company recognised the need for innovative change amid mounting challenges.
By late 2023, Golden faced significant inefficiencies due to a fragmented organisational structure comprising five independent subsidiaries. This setup led to duplicated efforts, communication barriers, and sluggish decision-making, threatening its competitive edge. CEO Nguyễn Minh Hương highlighted the urgency for transformation to avert potential business closure.
Led by Dr. Cherry Vu, Teal Unicorn guided Golden through a comprehensive transformation process. They focused on implementing Open Management principles tailored to Golden’s unique needs, through structural re-organisation, transparency initiatives, business agility, and staff empowerment through self-management.
By the end of 2024, Golden Communication Group experienced notable improvements:
- Revenue Growth: Achieved an increase of 5-8%.
- Profitability: Grew by 80%, illustrating operational and strategic success.
- Productivity Gains: Worker efficiency improved by over 110%.
- Generous Bonuses: everyone received an additional 3 months’ salary or more.
Reflecting on the successful transformation, MS. Minh Hương noted, “If we hadn’t undergone management transformation during this period, the timeline for closing down would have been counted in months, not years.” This underlines the substantial impact of Dr. Vu’s leadership and the initiatives by Teal Unicorn.
The transformation at Golden Communication Group showcases the profound capabilities of Open Management in driving organisational change. By strategically restructuring, enhancing transparency, and empowering staff, Golden not only reversed its downward trajectory but also reinforced its industry standing. This case exemplifies the potential of adaptive leadership and innovative management practices to achieve sustainable success.
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Nguyễn Minh Hương, Chief Executive Officer. participated in our webinar with four CEOs