{"id":14162,"date":"2025-08-22T16:33:29","date_gmt":"2025-08-22T09:33:29","guid":{"rendered":"https:\/\/www.phfm.vn\/?p=14162"},"modified":"2025-08-22T16:57:04","modified_gmt":"2025-08-22T09:57:04","slug":"nguyen-tac-vang-de-danh-gia-chat-luong-loi-nhuan-doanh-nghiep","status":"publish","type":"post","link":"https:\/\/www.phfm.vn\/vi\/nguyen-tac-vang-de-danh-gia-chat-luong-loi-nhuan-doanh-nghiep\/","title":{"rendered":"NGUY\u00caN T\u1eaeC V\u00c0NG \u0110\u1ec2 \u0110\u00c1NH GI\u00c1 CH\u1ea4T L\u01af\u1ee2NG L\u1ee2I NHU\u1eacN DOANH NGHI\u1ec6P"},"content":{"rendered":"
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B\u00e0 Helena Shiu, Ph\u00f3 T\u1ed5ng Gi\u00e1m \u0111\u1ed1c, C\u00f4ng ty Qu\u1ea3n l\u00fd Qu\u1ef9 Ph\u00fa H\u01b0ng (PHFM)<\/figcaption><\/figure>\n

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Th\u1ef1c t\u1ebf trong ph\u00e2n t\u00edch t\u00e0i ch\u00ednh, t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn r\u00f2ng\/OCF ph\u1ea3n \u00e1nh bao nhi\u00eau l\u1ee3i nhu\u1eadn k\u1ebf to\u00e1n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi d\u00f2ng ti\u1ec1n th\u1ef1c.<\/div>\n

Trong m\u00f9a b\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd II\/2025, nhi\u1ec1u doanh nghi\u1ec7p c\u00f4ng b\u1ed1 l\u1ee3i nhu\u1eadn t\u0103ng v\u1ecdt, th\u1eadm ch\u00ed g\u1ea5p nhi\u1ec1u l\u1ea7n so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc. M\u1ed9t s\u1ed1 ph\u1ea3n \u00e1nh \u0111\u00fang s\u1ef1 t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng c\u1ee7a doanh nghi\u1ec7p, \u0111\u1ebfn t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i, \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng thu\u1eadn l\u1ee3i, chi\u1ebfn l\u01b0\u1ee3c ho\u1ea1t \u0111\u1ed9ng ph\u00f9 h\u1ee3p v\u00e0 m\u00f4i tr\u01b0\u1eddng kinh doanh c\u1ea3i thi\u1ec7n.<\/p>\n

Tuy nhi\u00ean, b\u00ean c\u1ea1nh nh\u1eefng \u0111i\u1ec3m s\u00e1ng n\u00e0y, v\u1eabn c\u00f3 kh\u00f4ng \u00edt doanh nghi\u1ec7p li\u00ean t\u1ee5c b\u00e1o l\u00e3i k\u1ebf to\u00e1n t\u0103ng v\u1ecdt nh\u01b0ng th\u1ef1c t\u1ebf l\u1ea1i ch\u1eadt v\u1eadt v\u1edbi d\u00f2ng ti\u1ec1n v\u00e0 g\u1ea7n nh\u01b0 l\u00e3ng qu\u00ean quy\u1ec1n l\u1ee3i c\u1ed5 t\u1ee9c c\u1ee7a c\u1ed5 \u0111\u00f4ng. Li\u1ec7u \u0111\u00e2u l\u00e0 nh\u1eefng ch\u1ec9 b\u00e1o cho th\u1ea5y d\u1ea5u hi\u1ec7u \u201cl\u00e3i \u1ea3o\u201d r\u00f5 nh\u1ea5t v\u00e0 gi\u00fap \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn c\u1ee7a doanh nghi\u1ec7p?<\/p>\n

Tr\u1ea3 l\u1eddi NC\u0110T, b\u00e0 Helena Shiu, Ph\u00f3 T\u1ed5ng Gi\u00e1m \u0111\u1ed1c, C\u00f4ng ty Qu\u1ea3n l\u00fd Qu\u1ef9 Ph\u00fa H\u01b0ng (PHFM) cho r\u1eb1ng, khi doanh nghi\u1ec7p c\u00f4ng b\u1ed1 l\u1ee3i nhu\u1eadn k\u1ebf to\u00e1n cao nh\u01b0ng d\u00f2ng ti\u1ec1n l\u1ea1i \u00e2m, \u0111\u00f3 th\u01b0\u1eddng l\u00e0 t\u00edn hi\u1ec7u c\u1ee7a \u201cl\u1ee3i nhu\u1eadn \u1ea3o\u201d, t\u1ee9c l\u00e0 l\u1ee3i nhu\u1eadn tr\u00ean b\u00e1o c\u00e1o kh\u00f4ng \u0111\u01b0\u1ee3c h\u1eadu thu\u1eabn b\u1edfi ti\u1ec1n m\u1eb7t th\u1ef1c t\u1ebf v\u00e0 kh\u00f3 b\u1ec1n v\u1eefng.<\/p>\n

\u201cTuy v\u1eady, ch\u00fang t\u00f4i kh\u00f4ng xem vi\u1ec7c chi tr\u1ea3 c\u1ed5 t\u1ee9c ti\u1ec1n m\u1eb7t l\u00e0 th\u01b0\u1edbc \u0111o quan tr\u1ecdng nh\u1ea5t \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 gi\u00e1 tr\u1ecb doanh nghi\u1ec7p. Mi\u1ec5n l\u00e0 doanh nghi\u1ec7p s\u1eed d\u1ee5ng ti\u1ec1n hi\u1ec7u qu\u1ea3, l\u1ee3i \u00edch c\u1ed5 \u0111\u00f4ng v\u1eabn c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c gia t\u0103ng\u201d, b\u00e0 Helena Shiu n\u00f3i.<\/p>\n

Theo Chuy\u00ean gia c\u1ee7a PHFM, ch\u1ec9 b\u00e1o thu\u1eadn ti\u1ec7n nh\u1ea5t \u0111\u1ec3 nh\u1eadn di\u1ec7n \u201cl\u00e3i \u1ea3o\u201d v\u00e0 \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn l\u00e0 t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn r\u00f2ng so v\u1edbi d\u00f2ng ti\u1ec1n ho\u1ea1t \u0111\u1ed9ng (OCF). L\u1ee3i nhu\u1eadn ch\u1ea5t l\u01b0\u1ee3ng t\u1ed1t th\u01b0\u1eddng \u0111i k\u00e8m d\u00f2ng ti\u1ec1n ho\u1ea1t \u0111\u1ed9ng m\u1ea1nh. Khi l\u1ee3i nhu\u1eadn r\u00f2ng d\u01b0\u01a1ng \u0111\u00e1ng k\u1ec3 nh\u01b0ng OCF l\u1ea1i \u00e2m ho\u1eb7c th\u1ea5p h\u01a1n nhi\u1ec1u l\u00e0 d\u1ea5u hi\u1ec7u c\u1ea3nh b\u00e1o quan tr\u1ecdng. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y l\u1ee3i nhu\u1eadn ch\u1ee7 y\u1ebfu d\u1ef1a v\u00e0o c\u00e1c kho\u1ea3n d\u1ed3n t\u00edch thay v\u00ec d\u00f2ng ti\u1ec1n th\u1ef1c, h\u00e0m \u00fd kh\u1ea3 n\u0103ng ghi nh\u1eadn doanh thu s\u1edbm ho\u1eb7c tr\u00ec ho\u00e3n c\u00e1c lo\u1ea1i chi ph\u00ed.<\/p>\n

\u201cKhi so s\u00e1nh OCF v\u1edbi l\u1ee3i nhu\u1eadn r\u00f2ng, c\u0169ng c\u1ea7n x\u00e9t \u0111\u1ebfn giai \u0111o\u1ea1n ph\u00e1t tri\u1ec3n c\u1ee7a doanh nghi\u1ec7p. OCF \u00e2m \u1edf giai \u0111o\u1ea1n kh\u1edfi nghi\u1ec7p c\u00f3 th\u1ec3 l\u00e0 b\u00ecnh th\u01b0\u1eddng, nh\u01b0ng ch\u00eanh l\u1ec7ch l\u1edbn v\u00e0 k\u00e9o d\u00e0i \u1edf c\u00e1c doanh nghi\u1ec7p \u0111\u00e3 tr\u01b0\u1edfng th\u00e0nh th\u00ec c\u1ea7n nghi\u00ean c\u1ee9u s\u00e2u h\u01a1n\u201d, b\u00e0 Helena Shiu chia s\u1ebb.<\/p>\n

C\u0169ng theo chuy\u00ean gia c\u1ee7a PHFM, t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn r\u00f2ng\/OCF ch\u1ec9 mang t\u00ednh s\u00e0ng l\u1ecdc ban \u0111\u1ea7u v\u00e0 \u0111\u1ec3 k\u1ebft lu\u1eadn kh\u00e1ch quan v\u1ec1 ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn, c\u1ea7n ph\u00e2n t\u00edch chuy\u00ean s\u00e2u b\u00e1o c\u00e1o t\u00e0i ch\u00ednh.<\/p>\n

Th\u1ef1c t\u1ebf trong ph\u00e2n t\u00edch t\u00e0i ch\u00ednh, t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn r\u00f2ng\/OCF ph\u1ea3n \u00e1nh bao nhi\u00eau l\u1ee3i nhu\u1eadn k\u1ebf to\u00e1n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi d\u00f2ng ti\u1ec1n th\u1ef1c. N\u1ebfu t\u1ec9 l\u1ec7 n\u00e0y cao b\u1ea5t th\u01b0\u1eddng, \u0111\u01a1n c\u1eed nh\u01b0\u00a0 >1 trong nhi\u1ec1u n\u0103m li\u1ec1n, ngh\u0129a l\u00e0 l\u1ee3i nhu\u1eadn ch\u1ee7 y\u1ebfu \u0111\u1ebfn t\u1eeb b\u00fat to\u00e1n k\u1ebf to\u00e1n v\u00e0 kh\u00f4ng \u0111\u01b0\u1ee3c h\u1eadu thu\u1eabn b\u1edfi d\u00f2ng ti\u1ec1n th\u1ef1c.<\/p>\n

Theo chia s\u1ebb c\u1ee7a Ph\u00f3 T\u1ed5ng Gi\u00e1m \u0111\u1ed1c PHFM, c\u00f3 3 nguy\u00ean t\u1eafc m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 tham kh\u1ea3o khi \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p.<\/p>\n

\u0110\u1ea7u ti\u00ean l\u00e0 t\u1ec9 tr\u1ecdng l\u1ee3i nhu\u1eadn \u0111\u1ebfn t\u1eeb d\u00f2ng ti\u1ec1n th\u1ef1c hay l\u00e0 c\u00e1c kho\u1ea3n d\u1ed3n t\u00edch. L\u1ee3i nhu\u1eadn c\u1ee7a doanh nghi\u1ec7p \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 t\u1ed1t khi \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi d\u00f2ng ti\u1ec1n th\u1eadt t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh. Ng\u01b0\u1ee3c l\u1ea1i, n\u1ebfu ph\u1ea7n l\u1edbn l\u1ee3i nhu\u1eadn \u0111\u1ebfn t\u1eeb c\u00e1c kho\u1ea3n d\u1ed3n t\u00edch, th\u00ec ph\u1ea7n l\u1edbn l\u1ee3i nhu\u1eadn ch\u1ec9 \u0111\u1eb9p tr\u00ean s\u1ed5 s\u00e1ch v\u00e0 \u00edt gi\u00e1 tr\u1ecb th\u1ef1c.<\/p>\n

Th\u1ee9 hai l\u00e0 t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ngu\u1ed3n l\u1ee3i nhu\u1eadn. Nh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean xem x\u00e9t t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn \u0111\u1ed9t bi\u1ebfn \u0111\u1ebfn t\u1eeb c\u00e1c kho\u1ea3n thu b\u1ea5t th\u01b0\u1eddng, c\u00f3 t\u00ednh th\u1eddi \u0111i\u1ec3m v\u00e0 kh\u00f3 l\u1eb7p l\u1ea1i, hay \u0111\u1ebfn t\u1eeb ho\u1ea1t \u0111\u1ed9ng kinh doanh c\u1ed1t l\u00f5i c\u1ee7a c\u00f4ng ty.<\/p>\n

Th\u1ee9 ba l\u00e0 l\u1ee3i nhu\u1eadn c\u00f3 v\u01b0\u1ee3t chi ph\u00ed v\u1ed1n hay kh\u00f4ng. Nguy\u00ean t\u1eafc n\u00e0y th\u01b0\u1eddng b\u1ecb b\u1ecf qua, nh\u01b0ng \u0111\u00e2y c\u0169ng l\u00e0 m\u1ed9t trong nh\u1eefng ch\u1ec9 b\u00e1o gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e1nh gi\u00e1 ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p. C\u1ee5 th\u1ec3, n\u1ebfu m\u1ed9t doanh nghi\u1ec7p b\u00e1o c\u00e1o l\u1ee3i nhu\u1eadn b\u1ec1n v\u1eefng, nh\u01b0ng l\u1ee3i nhu\u1eadn n\u00e0y l\u1ea1i th\u1ea5p h\u01a1n chi ph\u00ed v\u1ed1n, \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c doanh nghi\u1ec7p \u0111ang l\u00e0m hao m\u00f2n gi\u00e1 tr\u1ecb c\u1ed5 \u0111\u00f4ng.<\/p>\n

\u201cB\u00ean c\u1ea1nh ph\u00e2n t\u00edch \u0111\u1ecbnh l\u01b0\u1ee3ng, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u1ea7n quan t\u00e2m c\u00e1c ch\u1ec9 b\u00e1o \u0111\u1ecbnh t\u00ednh nh\u01b0 doanh nghi\u1ec7p th\u01b0\u1eddng xuy\u00ean thay ki\u1ec3m to\u00e1n; m\u1ee9c \u0111\u1ed9 c\u00f4ng b\u1ed1 th\u00f4ng tin h\u1ea1n ch\u1ebf; v\u00e0 qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p y\u1ebfu. N\u1ebfu xu\u1ea5t hi\u1ec7n m\u1ed9t trong ba d\u1ea5u hi\u1ec7u n\u00e0y, ch\u1ea5t l\u01b0\u1ee3ng l\u1ee3i nhu\u1eadn nhi\u1ec1u kh\u1ea3 n\u0103ng th\u1ea5p\u201d, b\u00e0 Helena Shiu n\u00f3i th\u00eam.<\/p>\n

Ngu\u1ed3n:<\/strong> NCDT<\/a><\/p>","protected":false},"excerpt":{"rendered":"

  Th\u1ef1c t\u1ebf trong ph\u00e2n t\u00edch t\u00e0i ch\u00ednh, t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn r\u00f2ng\/OCF ph\u1ea3n \u00e1nh bao nhi\u00eau l\u1ee3i nhu\u1eadn k\u1ebf to\u00e1n \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi d\u00f2ng ti\u1ec1n th\u1ef1c. Trong m\u00f9a b\u00e1o c\u00e1o t\u00e0i ch\u00ednh qu\u00fd II\/2025, nhi\u1ec1u doanh nghi\u1ec7p c\u00f4ng b\u1ed1 l\u1ee3i nhu\u1eadn t\u0103ng v\u1ecdt, th\u1eadm ch\u00ed g\u1ea5p nhi\u1ec1u l\u1ea7n so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m…<\/p>\n","protected":false},"author":10,"featured_media":14180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[103,107],"tags":[175,173,174,176,177,178],"_links":{"self":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14162"}],"collection":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/comments?post=14162"}],"version-history":[{"count":3,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14162\/revisions"}],"predecessor-version":[{"id":14183,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/posts\/14162\/revisions\/14183"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media\/14180"}],"wp:attachment":[{"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/media?parent=14162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/categories?post=14162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phfm.vn\/vi\/wp-json\/wp\/v2\/tags?post=14162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}