B GIO DC V O TO TRNG I HC KINH T TP.HCM ---------

Bi lun ch 3

TC NG CA CNG TY A QUC GIA I VI NN KINH T - VN CHUYN DCH CNG TY

GVHD: PGS.TS Nguyn Th Lin Hoa. Lp: TCDN4 Kha 34. 1. Trng Quang Quc i. 2. Nguyn Th Phng Loan. 3. L Trng Sn. 4. Nguyn N Anh Vy. 5. V Th Nh Qunh.

TP.HCM, Thng 9 nm 2011

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MC LC

DANH MC BNG BIU ............................................................................................ 3 DANH MC HNH ........................................................................................................ 4 PHN 1. NHNG TC NG CA MNCs I VI QUC GIA S TI TRNG HP MCDONALDS V NN KINH T C......................................... 5 1.1. Phng thc s hu kinh doanh ca Mcdonalds ........................................ 6

1.1.1. Cc phng thc s hu ca cng ty a quc gia ........................................... 6 1.1.2. Thun li v kh khn ca phng thc nhng quyn thng hiu .......... 9 1.1.3. H thng nhng quyn thng hiu ca McDonalds ................................ 13 1.2. Tc ng ca Mcdonalds di gc kinh t c ...................................... 19

1.2.1. ng gp vo GDP, thu chnh ph, to cng n vic lm ......................... 19 1.2.2. Gp phn vo s pht trin ca ngnh cng nghip xy dng v thit k 22 1.2.3. Kch thch s pht trin ca ngnh nng nghip, gia tng xut khu ........ 24 1.3. Tc ng ca Mcdonalds di gc trch nhim x hi v quan h

cng ng ................................................................................................................... 25 1.3.1. Lc lng lao ng v Mi trng lm vic ................................................... 26 1.3.2. Chnh sch o to ngun nhn lc ................................................................. 30 1.3.3. Gi tr ng gp cho cng ng T chc t thin RMHC ........................ 31 1.3.4. Pht trin bn vng thng qua cc chnh sch bo v mi trng ............ 34 1.3.5. Tnh hung kinh doanh trong cc hot ng x hi ................................. 40

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PHN 2. NHNG TC NG CA MNCs I VI QUC GIA CH NH TRNG HP CHUYN DCH CNG TY CA STANLEY WORKS ............. 43 2.1. Tng quan v Inversion.................................................................................. 43

2.1.1. Inversion l g?...................................................................................................... 43 2.1.2. Lch s ca chuyn dch cng ty ........................................................................ 43 2.1.3. ng c thc y thc hin chuyn dch cng ty ........................................... 46 2.1.4. Cch thc thc hin.............................................................................................. 48 2.1.5. S pht trin ca chuyn dch cng ty trong nhng nm va qua .............. 54 2.1.6. Cc chnh sch t ra i vi chuyn dch cng ty ....................................... 57 2.2. Stanley Works v k hoch Inversion .......................................................... 59

2.2.1. Gii thiu v cng ty Stanley Works ................................................................. 59 2.2.2. K hoch Inversion ca Stanley Works ............................................................ 60 2.3. Li ch v chi ph ca Stanley Works khi thc hin Inversion .................. 62

2.3.1. Nhng li ch ca Stanley Works khi Inversion.............................................. 62 2.3.2. Nhng yu t cn tr Stanley thc hin Inversion ......................................... 66 2.3.3. Nhng thay i trong cu trc nu Stanley Works tin hnh Inversion .... 69 2.4. Tin trnh thc hin Inversion ca Stanley Works ..................................... 69

DANH MC TI LIU THAM KHO .................................................................... 73

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DANH MC BNG BIU Bng 1.1. Phng thc tham gia th trng Bng 1.2. Bo co doanh thu hp nht ca Tng cng ty McDonalds Bng 1.3. S lng v phn phi chui nh hng McDonalds ti c Bng 1.4. ng gp ca Mcdonalds C cho RMHC nm 2009 Bng 1.5. Tng lng rc thi trong nm 2008 2009 Bng 2.1. Nhng thay i c tnh trong thu nhp ca Stanley Works sau khi thc hin chuyn dch

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DANH MC HNH Hnh 1.1. T trng phn b lao ng theo gii tnh Hnh 1.2. T trng gia rc ti ch v cha c ti ch Hnh 2.3. Gi chng khon ca Stanley Works (SWK) sau cng b k hoch Inversion Hnh 2.1. Ngha v thu ca Stanley Works ti M trc khi thc hin chuyn dch Hnh 2.2. Ngha v thu ca Stanley Works ti M sau khi thc hin chuyn dch cng ty ra nc ngoi

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PHN 1. NHNG TC NG CA MNCs I VI QUC GIA S TI TRNG HP MCDONALDS V NN KINH T C Mcdonald t lu c bit n nh l mt trong nhng thng hiu thc n nhanh ni ting th gii. Nhng t ngi bit rng ngun gc ca Mcdonald chnh l nh hng The Airdrome do Patrick McDonald lp ra vo nm 1937 ti Monrovia, California, vi mn n chnh ca nh hng ch l bnh hamburger v nc p cam. t lu sau, hai ngi con trai ca ng, Mac v Dick quyt nh chuyn ton b nh hng v San Bernardino ng thi i tn thnh nh hng Mcdonald (1940). Vo nm 1953, anh em nh Mac tin hnh franchise1 thnh cng Phoenix, Arizona v Downey, thuc bang California, M. Tuy nhin phi n nm 1955, sau khi Ray Kroc n tham quan v nhn thy rng cch thc kinh doanh ca Mcdonalds l mt cha kha thnh cng, ng ngh Mac v Dick franchise nh hng trong phm vi c nc. Sau khi nhn c s ng thun, Ray Kroc nhanh chng cho ra i mt chui nh hng hot ng rng khp nc M. Vi tc pht trin ng kinh ngc, ch trong vng 3 nm u tin h thng cc ca hng ca McDonalds bn c hn 100 triu chic bnh hamburger v ca hng McDonald's th 100 c khai trng 4 nm sau . V th n nm 1961 Ray Kroc quyt nh tr 2.7 triu USD cho anh em nh Mac mua li khon ph bng 1% doanh s m hng nm ng phi tr v mt mnh lm ch ci tn Mcdonalds. Mt nh hng Mcdonalds ra i c th di nhiu hnh thc nh nhng quyn thng hiu, cng ty con hay cng ty lin doanh. Tuy nhin, ph bin nht vn l hot ng nhng quyn thng hiu (franchise) v nhng c tnh u vit ca n. Tnh n nm 2010, Mcdonalds s hu 32.737 nh hng, t ti 119 quc gia v vng lnh th trn th gii, trong c ti 26.388 nh hng ra i di hnh thc franchise

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Nhng quyn thng hiu. S c gii thch r hn trong phn 1.1

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(chim 80.5%)2. Hot ng franchise ra nc ngoi u tin c Mcdonalds thc hin vo nm 1967 ti British Columbia, Canada. n nm 1971, Mcdonald ng lot tin hnh franchise qua nhiu quc gia Chu u v Chu nh Nht Bn, Canada, Anh, c. Trong , c th ni c l mt trong nhng quc gia c ng gp ln nht vo doanh thu ca cng ty. Vi nh hng McDonalds u tin ca c c khai trng vo thng 5 nm 1971 ti Yagoona thuc ngoi Sydney. Tnh n nay c trn 780 nh hng trn khp nc c, to ra vic lm cho hn 85.000 ngi. 1.1. Phng thc s hu kinh doanh ca Mcdonalds

Cng ty a quc gia c nhiu la chn v phng thc s hu (entry mode) khc nhau m rng hot ng ra th trng ton cu. i vi McDonald, phng thc nhng quyn thng hiu ng gp khng nh vo s thnh cng ca n. thy c nhng c im trong phng thc nhng quyn thng hiu ca McDonald v nguyn nhn khin cho nhng quyn thng hiu tr nn ph bin, trong phn ny chng ta s lm r 3 ni dung chnh: (i) s lc cc phng thc s hu ca cng ty a quc gia khi m rng hot ng sn xut; (ii) u v nhc im ca phng thc nhng quyn thng hiu; (iii) c im nhng quyn thng hiu ca McDonald. 1.1.1. Cc phng thc s hu ca cng ty a quc gia m rng hot ng ra th trng ton cu, cng ty a quc gia phi la chn cc phng thc tham gia khc nhau nhm ti a ha gi tr doanh nghip. Theo tc gi Spulber (2007), ch c mt s t cc cng ty c quy m ln v hot ng sn xut a dng mi c th n phng tham gia vo th trng ton cu. Mt s trng hp ngoi l c th k n l: ngi khng l trong lnh vc bn l Wal-Mart v Carrefour t xy dng ring cho h h thng phn phi v mng li ca hng ph rng trn ton cu. Nh sn xut t Toyata t mnh a cc sn phm v thit k vo th trng bn2

Ngun: http://www.wikinvest.com/stock/McDonald's_(MCD)

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cnh h thng nh cung cp ph tng v i l bn l ca n. Cng ty du nh Exxon Mobil hoc BP bao ph th trng ton cu bng h thng phn phi theo chiu dc, t cc m du n nh my lc du v cc trm xng. Cc cng ty a quc gia trn chn FDI v s hu ton phn (company owned) khi tham gia vo th trng ton cu. Cc cng ty khc thng la chn gia cc giao dch giao ngay (spot transactions) v k kt cc loi hp ng khc nhau khi tham gia vo th trng cung ng hoc phc v ngi tiu dng. Chng ta c th quan st trong hnh di y: Bng 1.1. Phng thc tham gia th trng

Ngun: Spulber (2007), Global Competitive Strategy, Cambrige University Press, Table 5 2. C su phng thc khc nhau cng ty a quc gia c th tham gia vo th trng quc t. T trn xung s l s suy gim trong quyn kim sot hot ng v tng ng l s suy gim trong ri ro m cc cng ty a quc gia phi gnh chu. Cc gim c s la chn cc phng n trn bng 1.1 theo thun li v kh khn ca hot ng lin kt theo chiu dc. Phng n giao dch giao ngay vi hot ng bn t ca nh cung cp hoc cho khch hng th hin tnh lin kt theo chiu dc thp

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nht. Tng trng (growth) v M&A th hon ton cung ng FDI theo chiu dc. gia, phng n hp tc di dng cc lin minh hoc lin doanh gia cc cng ty, lc ny, cc cng ty tham gia s thc hin phn chia FDI cn thit. Hiu bit v th trng s l mt tiu ch quan trng a ra quyt nh tham gia vo hot ng phn phi. Nu cng ty kh gn gi vi khch hng th h c th trc tip nm ly hot ng phn phi. Ngc li, cc cng ty c th k kt hp ng vi cc nh phn phi chuyn nghip hn. Tuy nhin, ngay c khi h c nhiu kin thc v th trng th h cng c th tham gia vo cc hp ng ny i tc thc hin cc hot ng sn xut v R&D. Mt s thun li ca lin kt theo chiu dc trong hot ng phn phi l mi quan h khng kht vi khch hng cui cng: bng vic cho cc cng ty khc thc hin hot ng phn phi, cng ty c th truy cp c thng tin khch hng mt cch gin tip. Lin minh v lin doanh (Alliances v Joint venture) khng cn cc i tc phi tham gia lin kt theo chiu dc, h c th lin kt cc hot ng thng qua cc hp ng v cc tha thun bnh thng. quyt nh s tham gia vo lin doanh hay lin minh, cc cng ty a quc gia s xem xt chi ph xy dng v duy tr mi quan h. Cc lin minh v lin doanh quc t c chi ph qun l cao v lin quan n ri ro kh khn thc hin giao ko. Tuy nhin, lin minh cho php cc cng ty a quc gia chia s kin thc th trng v lin kt cc k nng cn thit khi tham gia mt th trng mi. Cng ty cng c th ti thiu ha FDI cn thit ca lin kt theo chiu dc bng vic tham gia cp quyn (licensing) quc t. Cng ty a quc gia c th cp php v bng sng ch, cng ngh, thng hiu, nhn hiu, phng thc kinh doanh, thit k sn phm, phn mm, phng thc giao dch, v nhng quyn thng hiu. Cng ty c th cp quyn cng ngh cho cc nh sn xut m nhn hot ng sn xut v bn sn phm. Vi hot ng cp quyn cng ngh, cng ty s khng tham gia vo hot ng sn xut v phn phi. Phng thc ny cho php cc cng ty bn cng ngh ca

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h rng ri trn ton cu m khng cn phi gnh chu thm ri ro t vic cp vn FDI, hc cch sn xut v phn phi ra th trng. Phng thc cp quyn cho cng ty a quc gia nhiu li th so snh. H s tham gia vo th trng vi s hu tr tu (intellectual property). S gia tng trong hot ng cp quyn cng ngh s to ra nhiu li nhun v ng lc i mi ca cng ty a quc gia. Bng vic u t pht trin hot ng R&D nhiu hn l hot ng sn xut v phn phi, cng ty a quc gia c th nhn c nhng li ch kinh t mang tnh quy m hay phm vi v gia tng li nhun t quyn s hu tr tu. Bn cnh , cng ty a quc gia cng khng phi tn chi ph dy tr hot ng sn xut, tip th, do chi ph vn cng thp. V vy, cng ty a quc gia tham gia cc hot ng cp quyn s d dng thch nghi vi cc thay i ca th trng hn l lin kt theo chiu dc. Nhng quyn thng hiu (franchising) l mt phng thc quan trng ca cp quyn. N cho php cng ty pht trin nhanh chng vi s vn b ra t da vo cc khon u t ca ngi nhn quyn. Cc cng ty a quc gia c hot ng nhng quyn hng u trn th gii l: McDonalds, Burger King, Yogen Frz Worldwide, Subway, Baskin Robbins, GNC Franchising, KFC, and Dairy Queen. Trong nhng thp nin gn y, hot ng nhng quyn thng hiu pht trin mnh m c bit l trong lnh vc dch v. Trong phn tip theo chng ta s lm r cc u v nhc im ca phng thc ny to nn tng cho vic phn tch hot ng nhng quyn ca McDonald. 1.1.2. Thun li v kh khn ca phng thc nhng quyn thng hiu Thun li Shane (2005) nu 3 c im ca hnh thc nhng quyn thng hiu nh sau: cung cp mt c ch tt la chn v khuyn khch cc nh qun l cc ca hng; a ra mt c ch hiu qu v nhn s v ti chnh phc v cho s tng trng nhanh

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chng ca cng ty; cung cp mt mc sinh li cao cng vi ri ro mang li tng i thp. Vic s dng phng thc nhng quyn thng hiu cn cho php cng ty a quc gia gim thiu vn la chn i nghch v trn trnh nhim v ca cc nh qun l. Bng hnh ng tr th lao mt cch xng ng vi nng lc v s c gng ca h, cc ca hng nhng quyn thng hiu a ra mt c ch khin t la chn nhn s vi k nng ph hp v n lc iu hnh hot ng sn xut kinh doanh sinh li. iu khin cho ngi c nhng quyn lun lm vic tt hn l nhn vin lm cng n lng trong vic gia tng doanh s, kim sot chi ph mt cch thn trng v thc y s sng to. Tng trng nhanh thc s quan trng vi nhiu cng ty, bi v, n to nn s gia tng hiu qu v mt chi ph i vi cng ty3. Bn cnh , nhng quyn cng gip cho cng ty a quc gia huy ng vn r v nhanh chng, bi v, h khng phi gnh chu cc chi ph pht trin h thng ca hng v thot khi cc vn v bt cn xng thng tin trn th trng. Hn na, bng vic to ng lc cc nh qun l ca hng iu hnh hot ng sinh li, nhng quyn thng hiu gim thiu chi ph s dng vn ch s hu v do n khng bt buc cng ty a quc gia phi t b quyn kim sot v s hu i vi ca hng nhng quyn. Nhng quyn thng hiu cn cho php cng ty a quc gia bn v qun l tt thng hiu c nhng quyn v bn nhng quyn, t , khin cho h cung cp sn phm v dch v ti khch hng cui cng hiu qu hn. Hn na, cng vi vic gim thiu vn bt cn xng thng tin khin cho cng ty a quc gia c th m rng hot ng sn xut kinh doanh vi chi ph nhn s thp hn l trc tip s hu v qun l cc ca hng.

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Cc doanh nghip c quy m ln thng c li th cnh tranh v u th trong vic thc hin cc giao

dch. Chng hn, mua nguyn nhin liu u vo vi chi ph r hn.

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Nhng quyn cung cp cho cng ty a quc gia mt m hnh ti chnh sinh li vi ri ro tng i thp. N to ra mt c ch loi b ri ro trong vic thit lp mt ca hng mi cho mt bn th hai, bi v vic thnh lp doanh nghip ban u lc no cng phi i din vi nhiu ri ro t nghin cu v pht trin th trng n cht lng sn phm Mt khc, nhng quyn cn gip gim thiu bin ng trong doanh thu bng cch gn phn thng cho cc nh iu hnh ca hng vi doanh s thu c, n s n nh hn l gn vi li nhun. Kh khn Tip tc da theo nghin cu ca Shane (2005) cho thy bn cnh cc thun li th phng thc nhng quyn cng mang li khng t kh khn. C th, bn bt li ca loi hnh nhng quyn thng hiu m cng ty a quc gia phi i mt l: mu thun v mc tiu ca bn nhng quyn v bn c nhng quyn; vn chi ph giao dch, c th l vn i xe khng tr tin (free rider), ch xut hin loi hnh nhng quyn m khng xut hin loi hnh s hu ton phn; kh khn trong vic can thip vo s cch tn v i mi v c cu ca t chc c nhng quyn; nhng quyn cung cp mc sinh li tuyt i thp hn so vi cc ca hng m cng ty a quc gia s hu ton phn. Nhng quyn gp rc ri trong mu thun gia bn nhng quyn v bn nhn quyn bi v thu nhp ca cng ty a quc gia s l tin bn quyn da trn tng doanh s ca h thng ca hng nhng quyn, trong khi , phn tin bn quyn li l mt chi ph m bn nhn quyn phi gnh chu. Cng ty a quc gia tm kim mt mc gi thp hn cng vi doanh s cao hn l bn nhng quyn mong mun. Do , h lun gia tng mt cc ca hng ti mt vng a l cho trc. Bn cnh , bn nhn quyn cng khng mun tham gia vo cc hot ng tp th do bn nhng quyn t chc, tr khi cc chnh sch ny mang li li ch cho h. Cui cng, gi tr ca cc ca hng trong h thng nhng quyn s gim i trong qu trnh hot ng v h lun phi tr

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mt khon t l ph nhng quyn c nh trong khi th trng lun c nhng bin ng bt thng. Bi v cng ty a quc gia v bn c nhng quyn l cc t chc c lp v mt php l, do , hot ng nhng quyn phi gnh chu nhiu loi chi ph giao dch khng xut hin hnh thc s hu khc. Mt s bn nhn quyn thng i xe khng tr tin trc s n lc ca cc bn nhn quyn khc trong ton h thng nhng quyn ca cng ty a quc gia trong vic bo v tn thng hiu. Hn na, bn mua quyn lo lng rng cng ty a quc gia s thay i cc iu khon trong hp ng nhng quyn v tc ng mnh n cc ti sn h u t, mua sm hoc trc tip n li nhun. Do , bn nhng quyn thng u t khng y cho h thng ca hng ca mnh. Cui cng, nhng quyn thng hiu l mt phng thc ngho nn trong vic bo v ti sn tr tu, chng hn nh b mt kinh doanh. Bn nhn quyn d dng bn i nhng ti sn tr tu c i tc chuyn giao. Nhng quyn khng phi l mt phng thc t chc hiu qu nu cng ty a quc gia ang trong thi k cn nhiu s ci cch v thay i thng xuyn. Vic s dng hp ng trong mi quan h qun l gia bn nhng quyn v bn nhn quyn khin cho n rt kh thay i chnh sch, cu trc hoc thng qua cc sn phm, qu trnh sn xut khng c bit n hoc khng c cp trong hp ng k kt. Hn na, thng tin khng y v nhu cu khch hng ni cc ca hng nhng quyn ang hot ng cng vi quyn lc khng hon ton i vi bn nhn quyn khin cho cng ty a quc gia khng th c y thng tin cn thit a ra nhng thay i ng lc v gp phi nhiu kh khn bt bn nhn quyn phi thc hin nhng s ci cch theo ng nh cng ty a quc gia ra sau khi h c chuyn giao nhiu li ch ban u. Cui cng, hnh thc nhng quyn thng hiu th hin rt nhiu chi ph v ti chnh. u tin, cng ty a quc gia phi tn mt khon chi ph ban u thit lp nn h

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thng nhng quyn, nu h thng ny c qu t ca hng th y khng phi l mt hot ng s dng vn hiu qu. Bn cnh , nhng quyn thng hiu thu c t li nhun hn l s hu ton phn. Trn y l cc phn tch v mt l thuyt ca tc gi, c ci nhn thc t v y v mt cng ty a quc gia i din cho s thnh cng vi h thng nhng quyn thng hiu trong ngnh cng nghip thc n nhanh. Chng ta s tip tc phn tch hot ng nhng quyn ca McDonalds 1.1.3. H thng nhng quyn thng hiu ca McDonalds T 1955 hot ng nhng quyn ca McDonalds bt u c thc hin khi Ray Kroc nhn thy y l loi hnh hiu qu m rng hot ng ra ton cu. V ng ch ca n cng khng bit rng hin nay McDonalds c n hn 30.000 nh hng trn ton th gii, trong 70% l h thng nhng quyn. Nm 2006, McDonalds vn ln ng u dch v thc n nhanh khi doanh s bn ton cu ln ti 57 t USD, phc v cho 50 triu ngi mi ngy. McDonalds thnh cng ch yu nh vo 3 im mu cht: (i) xy dng cc chun mc thng nht cho c h thng t to ra h thng nhn din thng hiu trn ton cu; (ii) ngi mua quyn c o to k lng v h tr cn thit, to iu kin cc ca hng nhng quyn thc hin ng cc tiu chun do McDonalds thit lp v cht lng sn phm; (iii) thnh cng trong cc chin dch tip th, qung co v nng cao nhn dng thng hiu bng vic tham gia cc hot ng cng ng, t thin mang li gi tr cho x hi. Hiu v h thng nhng quyn ca McDonalds McDonalds l mt trong cc v d in hnh trong hot ng nhng quyn thng hiu. McDonalds s bn quyn cung ng sn phm cho bt k ai mun thnh lp cng ty ring ca h, ngi mua quyn thng hiu.

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Trong h thng nhng quyn, McDonalds s hu v cho thu li cc trang web v nh hng. Bn mua thng hiu phi mua cc vt dng, thit b v quyn kinh doanh trn thng hiu McDonalds trong vng 20 nm. m bo s thng nht trn ton th gii, tt c cc bn mua thng hiu phi xy dng thng hiu c tiu chun ha ca McDonalds, thc n, b tr nh hng v h thng qun l. iu khon hp ng cng quy nh cc bn tham gia phi tun th cng cc phng php ch bin sn phm, vn hnh sn phm v duy tr cht lng ca cc mn n trong thc n. H mun tr thnh nhng ng ch Bn nhn quyn c cung cp cc kha o to v h tr t pha McDonalds, gip h iu hnh mt cch thun li nht nh hng ca h. R rng, bn nhn quyn phi tr tin bn quyn cho McDonalds, do , h ch c la chn pht trin s nghip ca ring h hoc l mt tt c. iu khin cho ch cc ca hng nhng quyn c nhiu ng lc v qu quyt tin ti thnh cng. Ch cc nh hng c trch nhim vn hnh h thng nh hng nhng quyn ca ring h theo cc tiu chun v cht lng, dch v v s sch s do McDonalds t ra. Nh mt phn ca giao ko, McDonalds thng xuyn kim tra cht lng ca mi sn phm u ra, nu c s tht bi trong duy tr cht lng s khin cho bn mua quyn b tc mt quyn kinh doanh trn thng hiu McDonalds. Ray Kroc rt tin tng rng mi doanh nghip phi to ra mt gi tr nht nh cho cng ng trong sut qu trnh n tn ti. Do , mi nh hng nhng quyn s phi tham gia vo cc hot ng v t chc t thin a phng. Ch bn cc sn phm c sn xut tt vi cht lng cao Mt s lng rt ln cc doanh nghip mi v sn phm mi tht bi v mt chi ph rt ln cho hot ng R&D pht trin sn phm v dch v ca h. Do , Ray Kroc

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khng nh rng tt c cc nh hng ca McDonalds s bn cng danh mc sn phm v cng mt cht lng, iu ny to iu kin tiu chun ha tin trnh v gim st cht ch tng bc t ti s thnh cng. Cc bc ch bin mn n trong nh hng McDonalds c phn chia thnh nhiu cng on nh, lp i lp li, gip cho cc nhn vin tr nn thnh thc v chuyn nghip. S chuyn mn ha v lng doanh thu ln cng vi mt thc n gii hn cho php cc nh hng c th t c hiu qu nh quy m. i vi bn mua quyn, iu kin ny c th gip gim thiu ri ro trong vic thit lp doanh nghip. H khng cn phi pht trin sn phm, u t nghin cu vo mt th trng rng ln v khng phi lo lng rng liu sn phm c hp dn khch hng hay khng. McDonalds thc hin vic u t v cc hot ng nghin cu th trng. Chng trnh o to tuyt vi Tt c cc bn mua quyn u phi tham gia cc chng trnh o to ton phn m chnh h l ngi phi chi tr chi ph v ko di trong vng 9 thng. Kha o to ny s thc s hu ch, cc bn mua quyn s phi bt u lm vic cc nh hng, mt ng phc v hc mi th t nu n ti trnh by thc n, phc v khch v c lau dn nh hng. McDonalds l cng ty a quc gia duy nht thnh lp mt trng i hc chnh quy o to cho tp th nhn s trong mng li hot ng ton cu ca mnh, i hc Hamburger. H cn phi tham gia cc kha o to su hn ti cc trung tm chuyn bit tp trung vo cc lnh vc nh qun tr kinh doanh, k nng lnh o, xy dng nhm lm vic v gii quyt cc yu cu ca khch hng. Bn mua quyn s phi tuyn dng, o to v thc y lc lng lao ng ring ca h, v th, h phi hc nhng k nng v qun tr ngun nhn lc. Trong sut thi k cui cng ca kha o to h cn phi hc v qun l chng khon v t lnh, qun tr li nhun v mt mt, v tnh php l ca tuyn dng v sa thi nhn vin. Kt qu l, cc ch nh hng tng lai s khng

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phi yu cu nhn vin ca h lm bt c th g m h khng bit lm. iu ny cng c th tr thnh ng lc mnh m cho nhn vin ca h. Continuous support McDonalds cam kt rng cc hot ng o to nh vy s khng bao gi chm dt. V s thnh cng ca McDonalds gn b cht ch vi s thnh cng ca h thng ca hng nhng quyn. McDonalds cng thit lp mt nhm t vn chuyn nghip nhm h tr lin tc i vi cc nh hng nhng quyn trong mi lnh vc t nhn s n k ton v h thng cng ngh thng tin h tr hot ng kim sot. Li ch t cc chin lc tip th ton cu c McDonalds thc hin Thng hiu bao gm tn, khu hiu, k hiu hoc thit k hoc kt hp tt c cc yu t trn gip nhn dng sn phm ca mt t chc so vi i th ca n. S tng trng ng ghi nhn ca McDonalds c mt phn ng gp to ln t h thng nhn quyn thng hiu mnh m ca n. Thng hiu McDonalds, Golden Arches nay tr thnh mt biu tng c cng nhn trn ton cu. McDonalds cng nhn s cn thit ca mt chin lc marketing kt hp. tr nn thnh cng, mt t chc cn phi hiu r iu m khch hng cn h; pht trin sn phm tha mn h; thit lp mt mc gi hp l; v lm cho thng tin v sn phm n vi mi ngi thng qua hot ng qung co trn truyn hnh, i pht thanh, phim nh v trc tuyn. Mt s hot ng qung co dng chuyn ti nhng thng tiu ring bit, chng hn, nh mnh vo qung b thnh phn dinh dng trong thc n nhanh ca McDonalds. Hot ng qung co c bit l i vi cc nh hng s ng mt vai tr quan trng khin cho khch hng thng xuyn quay li hn. Tt c cc bn mua quyn thng hiu nhn c li ch, v do h s phi ng gp chi ph l 4.54% doanh thu. Hn na, cc bn nhn quyn cng nhn li ch t cc chng trnh nghin

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cu th trng quc gia quy m ln, t c th xem xt thi v nhn thc ca khch hng. H mun mua th g vi mc gi bao nhiu? V cng ty th hin nhng c im vt tri no sao vi i th? Bt k sn phm mi no cng phi c kim tra phn ng ca th trng trc khi a vo sn xut. Nhng s xem xt v kim nh ban u nh vy lm gim i ri ro phi thay th thc n ca cc nh hng. u t vo nhn vt i din cng l mt hot ng trung tm nhm xy dng hnh nh v u t vo nhn thc v nhn hiu ca mnh. Chng hn, McDonalds lin kt vi 4 lin on bng quc gia trong vic xy dng nn 10000 cu th v hun luyn vin cht lng trn khp nc Anh. McDonalds vn theo nim tin vo gi tr cng ng ca Ray Kroc, h tr hot ng cng ng v t thin trn ton cu, bao gm RMHC cung cp ch cho cc gia nh c tr em mc phi cc chng bnh phi iu tr lu di. Thng tin v d bo Mt trong cc vn ch cht trong vic thit lp mt doanh nghip mi l d bo doanh thu hot ng. iu ny nh hng n dng tin v to nn cc vn lin quan n cc giao dch sai gi tr. Doanh thu v li nhun ca cc ca hng ph thuc vo rt nhiu bin ni v ngoi sinh khc nhau. Mi bn nhn quyn s c k vng s c cch tip cn tch cc i vi doanh s, v sut sinh li k vng trong sut 20 nm tn ti l 20%. Thun li ca McDonald t h thng nhng quyn McDonalds thy r c cc li ch m h nhn c t h thng nhng quyn. H thng ny to nn nhng doanh nhn y n lc v l tng cho ton t chc. Nhng quyn thng hiu cng cho php McDonalds t c mt t l tng trng cao v to ra mt s nhn dng thng hiu trn ton cu. Ngy cng nhiu nh hng c dng nn v McDonalds ngy cng nhn c nhiu li ch t quy m.

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V mt ti chnh, McDonalds nhn tin thu hng thng c tnh trn doanh thu ca h thng nh hng tc l thu nhp ca McDonalds s bin ng theo s thay i doanh thu ca h thng nhng quyn. Hn na, h cn nhn c mt khong ph 5% trn doanh s ng gp vo hot ng ca ton h thng v ph bn quyn. Ni chung, gi mua cho mi nh hng khong 150.000 bng Anh tr ln. V cc bn mua quyn mi s phi ng gp t nht l 25%. Thc y s sng to Trong khi bn nhn quyn phi ng xy dng cc nh hng ca h theo cch ca McDonalds th h cng c mt khng gian trng cho s sng to. Nhiu tng v sn phm mi cho thc n n t bn nhn quyn p ng nhu cu th trng. Pht trin sn phm mi l rt quan trng i vi bt k doanh nghip no, ngay c khi n thnh cng bng mt thc n c nh trong nhiu nm. Th hiu ca khch hng lun thay i v doanh nghip phi p ng s thay i . Chin lc kinh doanh nng ng s quyt nh xem doanh nghip c khai thc c cc khong trng ca th trng hay khng. Ci gh 3 chn Bn lin quan th ba trong h thng nhng quyn v ng vi tr ht sc quan trng l nh cung cp. Bi v McDonalds tp trung vo cht lng sn phm, do , n cng thit lp nn cc tiu chun cho nh cung ng ng u ngnh cng nghip thc phm ca mnh. McDonalds lun tin tng vo s pht trin trong mi quan h vi nh cung ng mi th c thc hin trn mt ti khon m v c s tin tng l ci bt tay. Nh cung cp s hot ng gn b vi McDonalds pht trin v ci tin cht lng sn phm cng nh k thut sn xut. iu ny c miu t bng mt ci gh c 3 chn bao gm McDonald, bn nhn quyn v nh cung ng. Bt k nh cung ng no

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p ng cc tiu chun do McDonalds t ra u c th chia s s tng trng va thnh cng cng McDonalds. 1.2. Tc ng ca Mcdonalds di gc kinh t c

1.2.1. ng gp vo GDP, thu chnh ph, to cng n vic lm Tnh n cui nm 2010, McDonalds c 32,000 nh hng t 117 quc gia trn th gii phc v cho 58 triu lt khch mi ngy. Khong 80% tng s nh hng c s hu v iu hnh bi 5000 doanh nhn nam v n ti a phng. Hot ng kinh doanh ca McDonalds c phn khc thnh 4 khu vc a l: Chu Thi Bnh Dng, Trung ng v chu Phi (APMEA) Chu M Latin v Canada Chu u Hoa K McDonalds c nm trong khu vc APMEA v phn khc ny i din cho hn 8000 nh hng v 18% tng doanh thu ton cu. Trong nhm ny, c, Nht v Trung Quc ng gp gn 50% doanh thu. c cng vi M, Canada, Php, c, Anh, Trung Quc v Nht Bn c xem l nhng th trng ch yu ca McDonalds trn ton th gii. 8 th trng ny ng gp khong 70% vo tng doanh thu (Xem bng 1.2). Bng 1.2 trnh by doanh thu ton cu ca Tng cng ty McDonalds cho thy tc tng trng doanh thu vt bc ca khu vc APMEA c v doanh thu hot ng v doanh thu nhng quyn. Mc tng trng n tng trong nm 2010 ca khu vc APMEA l 16% trong doanh thu hot ng, 23% trong doanh thu nhng quyn v 17% trong tng doanh thu trong khi tng trng ca cc khu vc cn li ch l mt con s. Doanh thu nm 2009 ca cc khu vc khc u gim trong khi khu vc APEMA vn tip tc tng trng.

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Bng 1.2: Bo co doanh thu hp nht ca Tng cng ty McDonalds Tng trng Triu USD Tng trng(%) loi tr chuyn i tin t (%) 2010 Doanh thu hot ng Hoa K Chu u APMEA M Latin v Canada Tng cng Doanh thu t nhng quyn Hoa K Chu u APMEA M Latin v Canada Tng cng 3,883 2,637 769 553 7,842 3,649 2,553 623 461 7,286 3,442 2,499 571 449 6,961 6 3 23 20 8 6 2 9 3 5 6 8 11 16 8 6 10 12 9 8 4,229 6,932 4,297 775 16,233 4,295 6,721 3,714 729 15,459 4,636 7,424 3,660 841 16,561 -2 3 16 6 5 -7 -9 1 -13 -7 -2 5 9 -3 4 -7 3 5 -7 0 2009 2008 2010 2009 2010 2009

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Tng doanh thu Hoa K Chu u APMEA M Latin v Canada Tng cng 8,112 9,569 5,066 1,328 24,075 7,944 9,274 4,337 1,190 22,745 8,078 9,923 4,231 1,290 23,522 2 3 17 12 6 -2 -7 3 -8 -3 2 6 9 4 5 -2 5 6 -2 2

Doanh thu cc nh hng nhng quyn Hoa K 28,166 26,737 25,351 5 5 5 5

Chu u

15,049

14,573

14,282

3

2

8

10

APMEA

11,373

9,871

8,895

15

11

7

8 9 7

M Latin v Canada Tng cng

6,559 61,147

5,747 56,928

5,604 54,132

14 7

3 5

15 7

Ngun: 2010 Financial Highlights, http://www.aboutmcdonalds.com C th l vo nm 2009, McDonalds c thng bo mc li nhun tng gp i trong bi cnh tng trng chung ca chui ca hng ny trn th gii nm mc kh

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khim tn. Tng doanh thu rng l 3.25 t USD ng gp 0.33% vo GDP ca c nm 2009 v do mc thu thu nhp doanh nghip 37 triu USD np cho chnh ph c cng tng so vi nhng nm trc . S lng nhn vin lm vic trong chui nh hng c khng ngng gia tng, tnh n cui nm 2009 l 85,000 ngi. Bn cnh , mi nm McDonalds cn m thm rt nhiu nh hng mi khp nc c theo nhu cu ca khch hng. Mi nh hng mi thu ht v hun luyn 80 120 nhn vin lm vic bn thi gian, ton thi gian v cng vic thi v. Trong nm 2009, tha mn khch hng, McDonalds tng thm thi gian m ca i vi 464 nh hng, to ra thm khong 20 vic lm mi ni. u t vn cho mi nh hng mi bnh qun t 3 5 triu USD ng thi mc lng chi tr cho nhn vin mi nh hng khong 1 triu USD/nm (trong nm 2009) v tng lng chi tr cho nhn vin l 877 triu USD, ng gp khng nh vo tiu dng v thu cho nc c. 1.2.2. Gp phn vo s pht trin ca ngnh cng nghip xy dng v thit k Tnh n cui thng 2 nm 2002, McDonalds c n 715 nh hng ang hot ng ti c. Mt khi nhu cu v thc n nhanh cng nh nng lc chi tiu ca con ngi ngy cng gia tng, th nhu cu i vi sn phm ca McDonalds cng s gia tng lin tc. Khng c g ng ngc nhin khi c ti 62% h thng nh hng McDonalds c bt u c xy dng t nhng nm 1990. Trong nhng nm gn y, cng vi s pht trin mnh m ca cng nghip thc phm ni chung v thc n nhanh ni ring, trc s cnh tranh mnh m ca cc i th cng ngnh, McDonalds vn m rng th trng trn khp nc c to iu kin cho s tng trng ca ngnh xy dng cng nh cng nghip sn xut vt liu xy dng. Bng 1.2 cng cho thy doanh thu t hot ng nhng quyn tng mnh, c bit l

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i vi khu vc APMEA th hin vic McDonalds khng ngng m rng chui nh hng ca mnh. Hin nay, chui nh hng McDonals ti c pht trin rt nhanh ang ng th 7 trn th gii vi 808 ca hng (31 thng 12 nm 2009) phc v cho khong 1.7 triu lt khch mi ngy. Bng 1.3 cung cp chi tit v v tr cc nh hng cng nh cc cng ty qun l v h thng phn phi nhng quyn ca McDonalds c. Bng 1.3. S lng v phn phi chui nh hng McDonalds ti c Tiu bang NSW VIC QLD WA SA TAS Tng cng Thuc s hu cng ty 116 51 35 19 11 0 232 Nhng quyn 175 160 147 42 38 14 576 Tng cng 291 211 182 61 49 14 808

Ngun: McDonalds Australia Corporate Responsibility & Sustainability Report 2010. McDonalds khng ngng m rng cc cuc nghin cu khch hng. i vi McDonalds, lm tha mn nhu cu ca khch hng l v cng quan trng. Do , kin trc v phong cch trang tr, thit k chui nh hng cng nh cc sn phm lun c s thay i cng vi th hiu ca khch hng to khng gian thoi mi v s phc v

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tt nht. Bn cnh nhng thit k ch o, McDonalds cng to nn nhng khc bit nh trong trang tr ph hp vi vn ha tng vng min. 1.2.3. Kch thch s pht trin ca ngnh nng nghip, gia tng xut khu Nn tng hot ng ca McDonalds da vo b ba: ngi c nhng quyn, nh cung cp v nhn vin. S ph thuc cht ch ca b ba ny c McDoanalds v nh king ba chn (the three legged stool). y chnh l nn tng kinh doanh i din cho sc mnh ca cng ty. Chnh v vy, McDonalds rt ch trng n vic xy dng mi quan h lu di gia b ba ny bng cch cam kt m bo mi quan h bn vng v c li nhun i vi cc i tc, m bo cc i tc u hng c li ch t vic tng trng ca chui nh hng. McDonalds cam kt ng h u tin hng u cho cc nh sn xut ca nc c, lun lun s dng ngun nguyn vt liu trong nc c bt c khi no kh thi. C th, McDonalds s dng mt t l rt cao l 94% thc phm v bao b c ngun gc ti c. Chnh vic la chn cc nh cung ng ca c cng vi mt nhu cu ngun nguyn vt liu u vo khng l ng gp ng k vo s tng trng ca ngnh nng nghip. T 1996 2001, McDonalds c t c mt s tng trng ng k v mt s nh cung cp ca h ti c phi tng gp i khi lng cung ng. Phn ln trong s phi thc hin m rng sn xut, thc hin u t mi nhm tha mn nhu cu ngy cng tng ca McDonalds. Nm 2001, McDonalds chi 500 triu USD cho thc n, giy v bao b. Nm 2009, McDonalds chi 1.8 t USD cho thc phm, bao b v cc hng ha dch v khc, trong hn 600 triu USD c s dng cho thc phm, bao gm: + Hn 360 triu bnh hamburger + Hn 83 triu bnh nng xp Anh + Gn 68 triu kg khoai ty + 26.2 triu kg tht b

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+ 660,000 kg to ct lt v thi ht lu + 15.6 triu kg tht g +Hn 72 triu qu trng + Hn 13 triu kg rau ti c, ch yu l c chua v rau dip + 36 triu lt sa Tiu chun thc phm ca McDonald ti c c quc t cng nhn, em li li ch xut khu cho quc gia ny. c l mt trong nhng nh cung cp tht b ln nht ca h thng McDonalds trn ton th gii, nht l chu . Hn 26 triu kg tht b c McDonalds c tiu th mi nm, trong khi 46 triu kg c xut khu phc v cho hot ng ca McDonalds cc nc ng Nam , Nht v M. Cc nng tri c cung cp rau dip cho Hongkong, Singapore, c pho mt ca c cng c xut khu sang Singapore v Pakistan. B Whipped c xut khu t Tasman n New Zealand. McDonalds cng phi hp vi nhng nh cung cp a phng thnh lp Nhm nui cy rau dip ti Gatton, Queensland; Werribee v Lindenow Victoria. Cc mi quan h i tc ny u hng ti mt mc ch cui cng l cht lng sn phm ca chui nh hng McDonalds. 1.3. Tc ng ca Mcdonalds di gc trch nhim x hi v quan h

cng ng Khi u McDonalds ch l mt hin tng ca nc M nhng nay n tr thnh mt thng hiu quc t ch thc vi hnh nh mi vm vng v chic bnh hamburger ni ting, t lu c xem nh biu tng ca ton cu ha. Cng vi tc pht trin nhanh chng, Mcdonalds cng ngy cng nhn thy trch nhim ca mnh i vi cng ng c bit l cc quc gia ch nh. Bt k mt cng ty a quc gia no, khng ch c Mcdonalds lun phn u gy dng nim tin trong cng chng thng qua hnh nh mt cng dn doanh nghip tt Good corporate citizen.

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Good corporate citizen cn c th c bit n di nhiu thut ng khc nhau nh l Corporate conscience lng tm doanh nghip, Corporate social responsibility trch nhim x hi ca doanh nghip, hay l Social performance_ thnh tch hot ng x hi. Cng c nhiu nh ngha khc nhau cho vn ny: Cng dn doanh nghip tt l Vic tp hp cc bin php qun l nhm gip cho cng ty gim thiu c cc tc ng tiu cc v ti a ha cc tc ng tch cc i vi x hi. (Canadian Centre for Philanthropy). Cng dn doanh nghip tt l mt cng ty xem vic cn phi c trch nhim i vi mi trng v cng ng l mt phn ct li trong hot ng kinh doanh ca mnh. Mt cng dn doanh nghip v th ng gp cho x hi thng qua nhng hot ng kinh doanh ct li, nhng chng trnh nhn o v u t x hi cng nh thng qua nhng cam kt trong chnh sch cng ng . (Global Association of Billionaires and Millionaires_ GABM) Mcdonalds c cng khng ngng pht trin hnh nh cng dn tt ca mnh thng qua cc chnh sch o to pht trin ngun nhn lc cho x hi, cam kt to ra mt mi trng lm vic lnh mnh, cng vi cc chng trnh t thin, ng gp cho cng ng, cng nh lun c nhng ng gp tch cc trong cc chin dch bo v mi trng sng. 1.3.1. Lc lng lao ng v Mi trng lm vic Mcdonalds tin rng cng vic kinh doanh c thnh cng v pht trin bn vng, h cn phi c mt chin lc o to nhn lc tht s tt. V nhn lc tt l mt yu t quan trng em ti s thnh cng cho thng hiu. V v th, Mc cam kt o to l u tin hng u ca chng ti. Lc lng lao ng v chnh sch tuyn dng

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Hng nm Mcdonalds chi hn 40 triu USD cho vic o to i ng nhn vin v nh qun l. Mi nh hng ca Mcdonalds c t 80 120 nhn vin lm vic lun phin, trong c t 6 n 8 nhn vin qun l. Nhiu nh hng hot ng lin tc 24/24, trong khi mt s khc hot ng 18 gi/ngy, chnh iu ny to iu kin cho vic tm kim linh hot thi gian lao ng ph hp. C v y s l mt tng tuyt vi cho nhng ngi mun cn bng gia gia nh v cng vic. Mcdonalds c mt i ng nhn vin kh tr, thc t c n 69% lao ng c tui t 14 18, 20% cn li ri vo khong 19 21. V l mt tp on tuyn dng mt lng ln lao ng tr tui c, do Mcdonalds nhn thy rng bn cnh vic cung cp cc k nng, kinh nghim cho thanh thiu nin th ng thi cng phi to iu kin cho h cn bng gia vic hc v vic lm. thc hin mc tiu , h thng cc nh hng c u phi cam kt mt s quy tc v tuyn dng i vi ngi tr tui nh: khng lm vic qu 2 ca mi tun i vi ngi di 17 tui, khng lm vic sau 23h v trc 5h sng. Chnh sch ny m bo rng ngay c khi nh hng lm vic 24h/ngy th vic hc ca nhn vin tr cng khng b nh hng. Mcdonalds c cng l ni c s i din mnh m ca ph n. C mt Gim c qun l v Gim c iu hnh, 60% ph ch tch cao cp, 45% cc v tr qun l iu hnh c nm gi bi ph n. Mcdonald vi chnh sch Gia nh i sng cng vic c th xem l mt tha thun nhm cung cp mt mi trng lm vic thn thin cho tt c nhn vin. Trong phm vi chnh sch ny, Mcdonalds cho php cc nhn vin linh hot la chon thi gian v c quyn chia s cng vic cho nhau. Hnh 1.1 T trng phn b lao ng theo gii tnh

28

Ngun: McDonalds Australia Corporate Responsibility & Sustainability Repor t 2010, Employment and Training. Mi trng lm vic an ton bnh ng Mcdonalds cam kt cung cp mt mi trng lm vic an ton nng ng, nhm mc ch bo v nhn vin, khch hng, nh u t v thng hiu ca cng ty. McDonald khng ch tun th cc qui nh v vn sc khe v an ton ngh nghip ca tng bang v vng lnh th nhm pht trin mt mi trng lm vic an ton v lnh mnh, m cn i xa hn trong cc hot ng nhm t c mc tiu an ton sc khe. Nhng iu lut OH&S c McDonald p dng bao gm: Khuyn khch tt c nhn vin nhn din v bo co li cc nguy c tim n. Nhn vin c ngh a ra kin v cch thc ci thin vn an ton v sc khe trong qu trnh lm vic. B nhim v tr qun l an ton mi nh hng v cc quy tc do nhng ngi ny lp ra s c kt hp li v to thnh Chng trnh An ton ni lm vic. An ton ni lm vic l mt ni dung c mt trong tt c cc chng trnh o to v pht trin nhn vin. Do , tt c cc nhn vin c o to cch thc c th m bao an ton lao ng ni lm vic. Thnh lp y ban An ton tng ni lm vic tun theo iu l ca OH&S. Mi y ban bao gm c nhn vin bnh thng v nhn vin qun l. Cc y ban ny s tin hnh cc hot ng kim tra an ton, thng xuyn t chc hp bo a ra cc khuyn ngh v k hoch p dng nhm t c mc tiu an ton v sc khe ni lm vic. Ngoi ra, Mcdonalds cng cam kt to ra mt mi trng lm vic m ti mi ngi c i x cng bng v tn trng. Chng ti tin rng tt c nhn vin u xng ng c lm vic trong mi trng an ton, bnh ng v th v. Mcdonalds lun khuyn khch tt c cc nhn vin ca mnh cng nhau xy dng mt mi trng

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lm vic thn thin nhm ngn chn bt k hnh vi no c th gy tn hi cho ngi khc. Theo l , mi nhn vin u c c hi pht trin nh nhau, c nh gi da trn hiu sut cng vic, khng ph thuc vo tui tc, chng tc, mu da, gii tnh, tn gio, ngi khuyt tt hay ngun gc quc gia. C nhiu knh truyn thng nhn vin cung cp nhng thng tin phn hi lin quan ti cc vn nh phn bit i x, Chng hn nh cc bui ni chuyn chnh thc gia ngi qun l v nhn vin, chnh sch Open Door, hay th c nhn PAL. Mcdonalds cng nhn thy rng vic o to cho cc nh qun l tr thnh cu ni gia cc nhn vin, nhm to ra mt mi trng lm vic hi ha l mt cch kh hiu qu. Kho st mi y (nm 2009) cho thy rng 90% i ng nhn vin tin rng h c i x mt cch cng bng v khng phn bit chng tc, gii tnh, tn gio hay tui tc. Chnh sch lng thng Cc nhn vin c cam kt h s nhn c mt mc lng c bn ti thiu cng mt vi li ch khc. Ngoi ra, h cn c th t do tham gia vo cng on v c khu tr ph thnh vin vn phi trch t lng ca h. Tt c nhn vin ca cng ty u c ghi nhn hiu sut lm vic hng nm v mc lng , tin thng gia tng c nh gi da trn hiu sut . Sau khi m phn cng nh tham kho kin rng ri, Mcdonalds v t chc SDA quyt nh rng nhn vin s nhn c cc li ch gia tng theo Hip nh mi v quyn li ngi lao ng (c hiu lc t thng 1/2010). Hip nh c trnh by v thng qua bi phn ln cc nhn vin ca cng ty (35.249 ngi tham gia, 31.970 nhn vin b phiu ng h ca Hip nh). Mcdonalds c cng c chnh sch cho nhn vin ngh hu sn v tr cho h mc lng tng ng vi 8 tun lm vic. Ngoi ra cn cung cp mt chng trnh chm sc tr u i dnh cho nhn vin. Chnh sch tun ngh th 5 cho php nhn vin s dng quyn c ngh php ti a trong mt nm v d nhin vn c tr lng cho

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tun th 5 . iu ny nhm gip cho nhn vin c nhiu thi gian ngh ngi v phc hi. ng thi, nhn vin ca Mcdonalds cng c php dng tin lng ca mnh mua li 4 tun ngh thm cho mi nm. Vo ma h, Mcdonalds cho php nhn vin bt u lm vic sm 30 pht v kt thc tr 30 pht t th 2 n th 5 c th kt thc tun lm vic vo lc 1:00 tra ngy th 6. Chnh sch ny to iu kin cho nhn vin c nhiu thi gian hn cng vi gia nh, bn b thng thc cc hot ng vui chi gii tr. 1.3.2. Chnh sch o to ngun nhn lc L mt t chc c cng nhn v lnh vc o to, Mcdonalds cung cp mt lng ln c hi vic lm cho ngi dn c. Chng ti t ho trang b cho nhn vin cc k nng cn thit m s phc v cho h d bt c s la chn ngh nghip no. Mcdonalds c mt T chc o to gip cho h trong vic pht hin cc ti nng tim n thng qua vic cp chng nhn v chng trnh traineeship4. Mi nm Mcdonalds chi hn 40 triu USD cho vic o to i ng nhn vin. Mcdonalds nhn thy rng, mt lc lng lao ng tt s l ng lc em ti s thnh cng cho thng hiu. Do Mcdonalds tin rng, o to v pht trin khng ch l trch nhim m cn l mt chin lc u t bn vng, khn ngoan. V l Mcdonalds tin rng m bo s thnh vng ca nc c, ngnh cng nghip v lnh vc gio dc cn phi phi hp pht trin k nng cho cc th h tng lai. L mt t chc kinh doanh, Mcdonalds chng nhng giu c v kin thc m cn c k nng tr thnh mt t chc gio dc, o to chnh thc, thay v ch gi gn trong vic o to nhn vin hoc l cp ti chnh cho cc t chc gio dc. M hnh kinh doanh o

4

Traineeship l mt chng trnh o to cho mt cng vic c th no

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M hnh ny l s hp tc gia cc trng trung hc vi nhng ngi mua franchise a phng nhm to ra mt doanh nghip o, to iu kin cho sinh vin tip xc vi mi trng kinh doanh ngay trong lp hc, theo mi sinh vin s t thit lp v iu hnh cng vic kinh doanh ca ring mnh. Mt c tnh u vit ca sng kin ny l sinh vin s nhn c nhng li khuyn v s h tr t nhng ngi mua franchise a phng, h l nhng ngi s mang kin thc v kinh nghim vo lp hc. Kinh nghim o gip cho sinh vin t c nhng k nng vt xa nhng chng trnh ging dy thng thng. Cc sinh vin c truyn t kinh nghim qun l v iu hnh mt doanh nghip m phng, iu ny gip gim khong cch t l thuyt n thc tin. Chng trnh bt u vo nm 2006, hin nay c trn 30 trng trung hc trn khp nc c tham gia chng trnh ny. Ngoi ra, McDonald c cng cp hc bng cho nhng ngi c ti nng nh l mt hnh ng tha nhn trch nhim i vi x hi. Nhng hc bng ny bao gm: Hc bng Operatic Aria Competition thu ht hng trm ngi tham gia. Hc bng Ballet ca McDonald h tr nhng ngh s ti ba trong lnh vc . Chng trnh City of Sydney Performing Arts Challenge ca McDonald to c hi cho khong 25.000 ngh s tr mi nm c th thi ti i vi cc i th trong a bn hot ng ca McDonald. Queensland, McDonald cng thc hin ti tr cc dch v cng ng cho chng trnh National Australias Young Australian hng nm. y l mt gii thng danh gi cho cc th h tr tui ngi c. Hng nm McDonald trao 100 hc bng, mi hc bng tr gi 1.500$ cho nhn vin ca mnh h tr h trong vn hc tp. Ngoi ra, McDonald cn trao 29 phn thng trong lnh vc th thao cho cc nhn vin ginh c nhng thnh tch ng k (McDonalds 2000:9). 1.3.3. Gi tr ng gp cho cng ng T chc t thin RMHC

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Chng ti c trch nhim gia tng gi tr cho cng ng, v chng ti t ho v ng mt vai tr tch cc trong cng ng ngi c. Mt trong nhng cch chng ti lm iu ny l lun h tr ti a cho cc t chc, cc n v t thin t gp phn to nn s khc bit cho cuc sng ca ngi dn. Thng qua vic lin kt cc nh hng li vi nhau, Mcdonalds lp nn 1 qu ti tr ln, thng dng ti tr cho tr em a phng hoc b sung ngn sch cho RMHC. RMHC l mt trong nhng t chc t thin ln nht dnh cho tr em v t chc ny cng gip c hng ngn h gia nh trn khp nc c mi nm. RMHC ng gp ch yu trong 2 lnh vc chnh: khuyn khch li sng tch cc v h tr gio dc, hc tp. T chc t thin RMHC Ronald McDonald House Charities (thnh lp 1985) l mt t chc t thin c lp vi ton b kinh ph cho vic iu hnh, qun l RMHC u do Mcdonalds ti tr, 100% s tin ca qu s c quyn gp cho t thin dng h tr cho cc tr em b mc nhng cn bnh bnh him ngho. Cc ng gp ca Mcdonalds vt ra xa gii hn ti chnh. Bi l tt c cc nhn vin ca Mcdonalds u c khuyn khch lun trn tinh thn sn sang gip . Vi s mnh chnh l to ra, tm kim, v h tr cc chng trnh gip tr em b bnh cng vi gia nh ca cc em. Ronald McDonald House Ronald McDonald House l mt chng trnh ch lc ca RMHC, h tr ch cho gia nh cc tr b bnh nng ang c iu tr ti bnh vin gn . Thay v phi qua m bnh vin, h c th n Ronald McDonald House v nhn s gip t cc tnh nguyn vin, hoc s chia s t cc gia nh cng hon cnh. Ronald McDonald House u tin ra i Philadelphia, M, vo nm 1974, hin nay c trn 294 ngi nh nh th ny ti khong hn 30 quc gia trn th gii. Ronald McDonald House c mt c nm 1981, v hin nay c khong 14 ngi nh nh th.

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Ngn hng mu Ronald McDonald McDonalds cam kt s l nh ti tr chnh cho ngn hng mu ti c. Ngn hng ny thu thp v lu tr mu ch yu s dng cho tr em b ung th. n nm 2009, Mc h tr cho 157 bnh nhn. Chng trnh hc tp Chng trnh to iu kin cho nhng tr b bnh nng c c hi c hc tp ging nh nhng tr em khc cng trang la. Chng trnh cung cp nh gi ton din nhm xc nh th mnh v nhu cu hc tp ca cc em. T kt qu nh gi s xy dng mt k hoch gio dc ring cho tng em. Ph huynh v nh trng sau bo co rng thnh tch hc tp, s t tin v lng t trng trong tr c ci thin khi tr tr li trng. K t u nm 1998 n nay, c hn 3000 gia nh nhn c s gip . McHappy Day McHappy Day tr thnh mt s kin cng ng ph bin nht nhm gy qu cho RMHC. McHappy Day to ra mt k lc mi vi 2.4 triu USD ng gp cho RMHC. Trong ngy ny mi mt Big Mac bn ra s tch ly 1 USD cho RMHC, cng 10 cent cho mi ba n Mighty Me Mighty Us c bn. McHappy Day din ra hng nm thu ht ng o mi ngi tham gia. Khng kh l hi din ra cc nh hng, v vic nhng nhn vt ni ting cng tham gia lm vic trong cc nh hng em n s thch th cho khch hng v cc nhn vin.

34

Bng 1.4. ng gp ca Mcdonalds C cho RMHC nm 2009 MCDONALDS AUSTRALIA LMT USD McDonlads h tr trc tip cho RMHC McHappy Day ($1 t mi Big Mac bn ra) QU QUYN GP T CNG NG McHappy Day (Quyn gp cng ng) Thng quyn gp cc nh hng McDonald TNG CNG 2.670.136 4.151.610 6.821.726 794.519 2.080.800 2.875.319 553.138 1.448.637 2.001.775 127.458 333.805 461.263 MCDONALDS AUSTRALIA nhng quyn USD USD TNG CNG

1.195.021

288.368

1.483.389

Ngun: McDonalds Australia Corporate Responsibility & Sustainability Report 2010,Community contribution. 1.3.4. Pht trin bn vng thng qua cc chnh sch bo v mi trng

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Bo v mi trng d nhin l mt cng vic cn thit phi lm, tuy nhin vic thc hin tt ngha v i vi mi trng cng lm cho cng vic kinh doanh tr nn c ngha hn. Chng ti khng ngng c gng lun l mt cng dn doanh nghip c trch nhim vi mi trng v chng ti c nhng thay i ng k trong sut lch s hot ng cng c s hiu bit thc s i vi cc tc ng ca mi trng. Mcdonalds cho rng mt nh lnh o trong kinh doanh cng phi l mt ngi i u trong vic bo v mi trng v do Mcdonalds cam kt v pht trin bn vng. Ngha l s thc hin cc hot ng theo cch khng gy nh hng n th h tng lai. Mcdonalds tip tc n lc bo v tri t bng cch t thch thc bn thn cng ty v i tc, vi cc mc tiu t ra l: Bt c vic lm no cng phi xem xt di gc mi trng m bo tun th tt c cc quy nh v mi trng Gio dc v nng cao thc ca nhn vin, i tc mua franchise, khch hng, nh cung cp nhn c s cam kt, hp tc ca h v nhng thay i trong hnh vi. m bo nhn vin nhn thc c trch nhim v c trch nhim cho hnh ng ca mnh Hnh ng ca cng ty Cng ty tin hnh thit lp cc thit b tit kim nc v nng lng trong cc nh hng. Chng hn nh thit b cm bin nh sng trong cc bi u xe, h thng my nc nng s dng nng lng mt tri, tr s chnh c trang b bn cha nc th tch 24.000 lt cha nc ma, v bn 8.000 lt t ti trung tm o to chnh. Nc t cc bn cha ny c s dng cho vic v sinh lm sch v thy li. Cnh quan cng nh cy trng xung quanh vn phng u c thit k sao cho c kh nng chu nhit tt nht, ph hp vi mi trng v gim thiu nhu cu ti tiu. Hin nay,

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Mcdonalds ang th nghim h thng n hunh quang nhm tit kim nng lng s dng cho vic chiu sng. Kt qu tit kim c ti 26 30% so vi trc. Tc ng ca h thng nh hng Mcdonalds i vi mi trng nht l trong lnh vc s dng nng lng, lng kh thi c kh nng gy hiu ng nh knh, tiu th nc v rc thi tng hp khc. Do , Mcdonalds lun n lc tp trung vo cc mc tiu ci thin v qun l hiu qu trong cc khu vc trng yu. Hnh ng t pha nh cung cp Mcdonalds cng tin hnh hng dn cho cc nh cung cp trong lnh vc bo v mi trng: Ti a ha vn s dng nc, loi b vic a cht thi c hi vo mi trng qua ng nc. Gim lng kh thi ra ngoi kh quyn Ti a ha hiu qu s dng nng lng, ng thi thay vo s dng cc ngun nng lng t nhin c sn. Gim rc thi, ti ch ti a, c bin php x l cht thi kp thi, hiu qu Bo v ti nguyn t bng vic kim sot xi mn, Bo tn mi trng sng t nhin cho cc loi sinh vt bn a

Mcdonalds s dng th tnh im nh gi, v gim st hot ng ca cc nh cung cp. c l mt trong nhng th trng u tin m Mcdonalds s dng phng php ny. Ngoi ra Mcdonalds cn phi hp h tr cho cc nh cung cp trong vic i ph vi hn hn, v vn ngun nc cho nng nghip. Vn s dng hiu qu ngun nc Nc l mt trong nhng nhu cu thit yu cho hot ng ca nh hng, gip duy tr tiu chun cht lng, dch v, v sinh (QSC) v l bc u tin trong cng on sn xut. Do Mcdonalds t bit quan tm n s lng v cht lng ca nc s dng cng nh nc thi. Mcdonalds tham gia chng trnh Every Drop Counts ca

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Sydney Water vi t cch l mt tnh nguyn vin ca mt t chc v qun l v nh gi vic tit kim nc. Ngoi ra gii quyt nhu cu cho vic bo tn nc, c bit trong cc khu vc chu nh hng ca hn hn, bn cnh vic hng dn thit k cnh quan l nhng thc vt chu hn, Mcdonalds cn s dng cc phng php d tr nc ma tin tin. Nhng hng dn ny gp phn lm gim thy li v ph bo tn khu vn. Chng trnh ny c cng nhn bi Hi ng v mi trng ton cu ca Mcdonalds cho sng kin xut sc nht trong s cc h thng trn th gii. Mcdonalds bit rng vic x l rc khng hp l ca mt lng nh khch hng l mt mi quan tm cho nhng khu vc xung quanh nh hng. cng l mt trong nhng vn v mi trng ch yu m cng ty i mt trong nhiu nm. Cng ging nh khch hng, hng xm, Mcdonalds cng mun c mt mi trng sch s, khng c bng dng ca rc thi. Chng trnh Clean Street bao gm cc sng kin nhm gi cho mi trng xung quanh gn gng, sch s. Cha kha thc hin iu ny l chng trnh Litter Pateol (tun tra rc) l mt chng trnh m cc nhn vin phi thng xuyn i nht rc trong v ngoi nh hng, trn cc ng ph ln cn. Vi chng trnh Clean Street, chng ti thng qua cc bao b, bng hiu bi u xe, khay ng thc n nhc nh khch hng v vic khng x rc Kh thi gy hiu ng nh knh Bin i kh hu hin nay l mt vn quan trng v nghim trng m bn thn Mcdonalds nhn thy rng, cng ty phi c trch nhim trong vic lm gim tc ng ca n. Mcdonalds lun hnh ng chng minh rng h lun tuyn truyn v gio dc v cch thc o lng v gim kh thi gy hiu ng nh knh cng nh tc hi ca chng. Mcdonalds hin ang tham gia chng trnh EEO (Energy Efficiency Opportunities) ca chnh ph, mt chng trnh buc cc cng ty ch c s dng nng lng trong mt hn mc nht nh v thng xuyn nh gi cng nh bo co

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kt qu nh gi v tnh hiu qu trong vic s dng nng lng. Mcdonalds cng c yu cu bo co lng kh thi gy hiu ng nh knh cho chnh ph Lin bang. Mt s thit b tit kim nng lng theo tiu chun mi c gii thiu cho cc nh hng nh l: Cc nh hng s s dng thng chin LOV, loi thng vi din tch chin c thit k nh hn, do gim lng du s dng khong 40% v gim bt nng lng dng lm nng u 4%. Cc bng hiu c thay th bng cng ngh n LED tit kim nng lng n 50 70% so vi n hunh quang 240V. Cc nh hng ca Mc c trang b h thng l nng mi, vi thit k nh t chim din tch v hiu qu s dng nng lng c ci thin ng k, tit kim khong 25% Qun l v ti ch rc thi Mc tiu ca chng ti l gim rc thi ra bi rc. S tng trng trong kinh doanh ng ngha vi vic Mcdonalds phi i mt vi mt lng rc thi khng l. Mcdonalds k hip c National Packaging Covenant cam kt mc tiu ti ch 65% cc bao b ng gi va khng c gia tng nhiu hn na lng rc ra bi. Ngoi ra Mcdonald cng lun tm ti cc sng kin mi vi mc ch bo v mi trng, cng nh lun l ngi i u trong vic hng ng cc phong tro v tri t. Ngoi ra Mcdonald cng lun tm ti cc sng kin mi vi mc ch bo v mi trng, cng nh lun l ngi i u trong vic hng ng cc phong tro v tri t.

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Hnh 1.2 T trng gia rc ti ch v cha c ti ch

Bng 1.5 Tng lng rc thi trong nm 2008 - 2009

Ngun: McDonalds Australia Corporate Responsibility & Sustainability Report 2010, Sustainable supply chain. Nhn vo hnh c th thy, lng rc thi ca cng ty ngy cng c xu hng tng, iu ny l hp l, v mt khi doanh s gia tng th cng ty li phi i mt vi vn rc thi gia tng. V th, Mcdonalds tin hnh k Hip c cam kt mc tiu ti ch hng nm l 65%. Ngoi ra Mcdonald cng lun tm ti cc sng kin mi vi mc ch bo v mi trng, cng nh lun l ngi i u trong vic hng ng cc phong tro v tri t. Clean up australia

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Mcdonalds c l mt thnh vin sng lp ca Clean up Australia vi trn 20 nm quan h i tc. Chng trnh Clean up australia day ngy nay tr thnh mt biu tng cng ng v c s lng tnh nguyn vin hng nm cao nht. Trong nm 2009, c tnh c khong 630.000 tnh nguyn vin ng k tham gia ti 6910 im ng k, tng hn 15% nm 2008. c tnh c khong 8.000 tn rc c thu thp, b sung vo s 200.000 tn thu thp k t nm 1989. Ln u tin trong nm 2010, cc nh hng ca Mc c chn t chc ra mt b su tp in thoi ti ch. Cc khch hng c khuyn khch mang in thoi c ti nh hng, km theo mt khon tin t cc. Sng kin ny gip chuyn hng in thoi ra khi bi rc. Australia Zoo Chng trnh Ba n hnh phc (Mighty Me, Mighty Us Happy Meal) l mt chin dch ti tr ca Mcdonalds. C mi Happy Meal c bn ra s tch ly 10 cent, trong mt thi gian nht nh. Phn ln s tin tch ly ny s c h tr cho Australia Zoo nhm bo v ng vt c nguy c b tit chng, thng qua vic quyn gp cho bnh vin ng vt hoang d ca Australia Zoo s tin 165.000 USD. Gi tri t Chng trnh gi tri t c t chc u tin vo nm 2007 vi mc ch kt ni vic s dng nng lng vi vn bin i kh hu v ch ra rng mt hnh ng nh cng lm tri t nng ln. Mcdonalds cng tch cc tham gia h tr cho chng trnh ny bng cch yu cu tt c h thng nh hng tt ht n trn biu tng Golden Arches. ng thi Mcdonalds cng sn xut cc khay cha thc n theo ch gi tri t cng nh mt s ti liu khc s dng trong nh hng nhm nn cao nhn thc ca khch hng v nhn vin. 1.3.5. Tnh hung kinh doanh trong cc hot ng x hi

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Lun c 1 s khc bit r rng gia hot ng x hi xut pht t mt mong mun c cng hin cho x hi (normative case) vi hot ng x hi xut pht t ng c trc li (business case). Normative case: l mt trng hp cho rng cng ty cn c ngha v o c vi x hi, v vic tr thnh mt cng dn tt l u nn lm. Mt t chc phi li nhun hng u ca M yu cu cc nhn vin hy t c nhng thnh cng theo nhng cch l tn vinh cc gi tr o c, tn trng mi ngi, cng ng v mi trng t nhin. Business case: Orlitszky et al. (2003) tin hnh phn tch trn 52 nghin cu kim tra mi quan h gia hiu qu kinh t v hiu qu x hi, vi c mu l 3878 quan st. Nhn chung, h tm thy mi tng quan cng chiu gia trch nhim i vi mi trng x hi vi thnh qu kinh doanh. V y l mi quan h i ng ch khng phi quan h mt chiu, chng tc ng qua li thng qua mt chu k o c. Cc cng ty ch thc hin tt ngha v i vi x hi khi h c ngun lc ti chnh, v ngc li h cng ch lm tt trch nhim ca mnh ch khi vic ny gip cho ngun lc ti chnh ca h ln mnh hn. Mt s nhn t quyt nh mi quan h cng chiu gia hiu qu ti chnh v trch nhim x hi: Bo v v nng cao danh ting thng hiu, cng c nim tin. Theo kho st ca SAM (Sustainable Assessment Management), 73% cng ty c phn tch cho bit rng nng cao danh ting l mt trong nhng li ch chnh ca CSR (Corporate Social Responsibility). V d nh cc cng ty du, cc nh bn l v nh khai thc vin thng. Danh ting c xy dng trn ti sn v hnh nh s tn nhim, tin cy, cht lng, tnh nht qun, minh bch, cng nh trn ti sn hu hnh v d u t vo con ngi, trch nhim i vi mi trng.

42

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Thu ht, ng vin v gi chn nhn ti. Gn 2/3 cng ty cho rng thu ht nhn ti l mt trong nhng ng lc cho hot ng CSR. Nhiu hn trong qu kh, ngy nay nhng ngi i tm vic c xu hng thch cc cng ty c nh gi l cng dn tt, c trch nhim. Nng cao hiu qu hot ng v ti thiu ha chi ph. Nhiu cng ty c bit l Chu , Nht Bn, M Latin li xem hiu qu hot ng l mc tiu cho cc CSR. Mt trong s h tr li: pht trin bn vng cho chng ta v cho khch hng ca chng ti c ngha l tit kim nng lng, s dng hiu qu cc ngun nguyn liu t nhin, v lm gim cht thi nguy him gy tc hi n mi trng. Chnh v th chng ti lun c hoan nghnh bt k ni no chng ti hot ng nh mt nh tuyn dng hp dn v mt nh u t gii. Ngoi ra CSR cng c tc dng trong vic tit kim chi ph nh l: gim c ph bo him, tin pht v hnh pht s nh hn, t b kin tng hn. m bo giy php hot ng. y l mt vn quan trng i vi cc cng ty trong lnh vc cng nghip cao, c quan h cht ch vi chnh ph. To iu kin cho cc c hi kinh doanh mi. Cc cng ty c phng vn bi WEF a ra mt s c hi kinh doanh chnh m h tin rng c th c c t CSR. (1) pht trin sn phm, dch v, v cng ngh mi trng. (2) Sn xut sn phm, dch v mi p ng nhu cu v cuc sng lnh mnh hn. (3) Cung cp hng ha, dch v gi c phi chng cho ngi tiu dng cc quc gia ang pht trin. Xy dng mt mi trng hot ng n nh v thnh vng. Pht trin x hi c kh nng m rng th trng hin ti vn m cc cng ty phi i mt trong cc th trng mi ni, do lm tng kch thc ca chic bnh trong di hn.

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PHN 2. NHNG TC NG CA MNCs I VI QUC GIA CH NH TRNG HP CHUYN DCH CNG TY CA STANLEY WORKS 2.1. Tng quan v Inversion

2.1.1. Inversion l g? Cch tit kim nhanh chng mt khon thu ng k v cng nh lm gim i ngha v thu tng lai ca cc cng ty a quc gia M l thc hin chuyn dch cng ty. Chuyn dch cng ty theo nh trong ti liu thu l chuyn dch cng ty ra nc ngoi l trng hp thng qua c cu doanh nghip ca cc cng ty a quc gia c tr s M c thay th bi mt cng ty nc ngoi hon ton mi, thng nm cc quc gia c thu thu nhp doanh nghip thp hoc bng khng, n s thay th cho cng ty m hin hu M v tr thnh cng ty m hp php. Vic chuyn dch c cu ny s chuyn i cng ty a quc gia c tr s M tr thnh mt cng ty a quc gia nc ngoi v thit lp nn tng cho cc giao dch sau lm gim i ng k cc tn tht v thu cho doanh nghip. Chuyn dch cng ty tr thnh mt hin tng ng ch vo gia nm 1998 v 2002, khi mt s cng ty a quc gia ln M quyt nh c tr nc ngoi. Ln sng ny lm tng mi lo ngi ng k trong chnh ph v gia cc chuyn gia v thu. Nhiu cuc tranh lun ni ln, nhng cng ty di tr b a ra thm tra, i khi xem xt chung ton th, i khi xem xt k lng tng cng ty. 2.1.2. Lch s ca chuyn dch cng ty Thu l nguyn nhn thc y vic ti c cu cng ty ca tp on a quc gia c tr s ti M, trong cng ty m ti M c thay th bi mt cng ty nc ngoi, do chuyn i nguyn thc th thnh mt cng ty a quc gia nc ngoi, l mt thc t din ra gn y.

44

Thc hin ti c cu ln u tin, thu ht s ch ng k ca c quan thu IRS, l trng hp ca McDermott nm 1983, li dng k h trong iu khon Subpart F5 ca B Lut Thu thu v cc khon thu nhp th ng khng chu thu trong phm vi quyn hn thu ca M. S thiu st trong iu l Subpart F kp thi c khc phc khi IRS tin hnh thng qua sa i cc phn cn hn ch trong B lut v vic sa i ny ph nhn li cc li ch m McDermott nhn c. Mc ch v hnh thc thc hin ca McDermott rt khc so vi cc chuyn dch c bit gn y. Cc c ng ca McDermott trao i c phn ca h vi c phiu ca McDermott International, mt cng ty con hin hu Panamanian c thu nhp v li nhun ng k, v kt thc vic s hu 90% cng ty ny. Giao dch ny dng nh c tnh dng ln b nh thu v cho php cc c ng thc hin trao i nhn tn tht trong vic trao i ny. Tt nhin chuyn dch phi c li ch hn l loi b ngha v thu ti M nh trn thu nhp tch ly ca McDermott International khi n cn l cng ty thuc quyn kim sot nc ngoi (CFC)6. Nu khng c s chuyn dch, cc khon thu nhp tch ly ny s b nh thu ti McDermott nh nh trn c tc khi bn c phiu hay thanh l McDermott International theo mc 1248.7 K t , v hnh thc th McDermott khng chuyn nhng c phiu m mc 1248 quy nh, nhng thu nhp tch ly thu c t giao dch ny loi b ngha v thu ti M mt cch hiu qu.

5

Subpart F l thu nhp do mt cng ty thuc quyn kim sot nm nc ngoi (CFC) to ra v ngun

thu ny cng ty m c ch yu thng qua quyn s hu ti sn, khng phi thng qua hot ng sn xut hng ha v dch v.6

Sau cuc chuyn dch, McDermott ch cn s hu khong 10% c phiu ca McDermott

International, trong khi trc y cc c ng ca McDermott s hu khong 90%.7

Tr khi c ch nh khc, cn khng th tt c ti liu tham kho phn ny u t B Lut Thu nm

1986 c sa i.

45

Sau , nm 1994, mt cng ty khc pht hin ra cch thc hiu qu hn, l dch chuyn cng ty ra nc ngoi ca Helen of Troy cng ty chuyn cung cp nhng sn phm lm p, t tr s ti Texas. y l ln sng hin i u tin ca chuyn dch ra nc ngoi v c xem l mt s chuyn dch thun ty c Helen tin phong thc hin vi mong i lm gia tng gi tr cc c ng. thc hin chuyn dch, cc c ng ca cng ty Helen of Troy M trao i c phn ca h vi Helen of Troy Limited, cng ty mi thnh lp Bermuda. Sau khi thc hin cuc chuyn dch, cng ty Helen of Troy c nhng s thay i sau: (i) Helen of Troy Bermuda gp c phiu ca n vi Helen of Troy M trong cng ty Barbados nhn li ch t hip c thu US - Barbados i vi cc khon thanh ton c tc hay tin li xut pht t Helen of Troy M. (ii) Helen of Troy M chuyn dch hiu qu cc hot ng ca cng ty con nc ngoi ca n n Helen of Troy Bermuda vi mc ch cc cng ty ny khng cn l cng ty thuc quyn kim sot nm nc ngoi (CFCs) ca n na. (iii) Henlen of Troy c l d nh chuyn dch tt c cc khon thu c v cc khon u t sang Helen of Troy Bermuda. R rng giao dch chuyn i ny c thc hin cc c ng ca cng ty sau khi thc hin chuyn dch khng phi chu thu. IRS phn ng nhanh chng i vi s chuyn dch ca Helen. c bit, chuyn dch ny lin quan n vic cc cng ty a quc gia M gn y thc hin ti c cu nhm mc ch thu v s chuyn dch ny, hoc l cc giao dch lin quan, thc hin ng theo nh hnh thc ti c cu, u l c hi trnh thu M.8 Mt ln na c quan thu IRS quy nh y l mt trng hp chu thu nu cng ty chuyn nhng mang quc tch M s hu bng

8

Cc thu ban hnh Thng t 94 46 v vic cng b sa i mt s quy nh theo Mc 367 (a).

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hoc hn 50% quyn biu quyt ca cng ty th hng nc ngoi ngay sau khi trao i9. Mc thu cho c ng ny dng nh ngn chn mt cch hiu qu cho n nm 1998 1999, khi bt u xut hin ln sng mi ca trng hp chuyn dch ra nc ngoi. Ln sng th ba l kt qu ca vic ti thnh lp cng ty ra nc ngoi ca 17 cng ty a quc M, in hnh nh Tyco v Ingersoll - Rand, v cui cng dng li bi nguy c chng i sp ti ca php lut v vic chuyn dch cng ty ra nc ngoi m nhng chnh sch php lut ny khng d dng c d on trc. Gia nm 2002 vic t b nh chuyn dch ca Stanley Works, thu ht s ch ca ng o cng chng v chuyn dch. Cc bin php chng li chuyn dch c xut, mt s bin php c hiu lc trc . Nhng xut ny ngn chn cc giao dch chuyn i vo thi im ny. Cn nhiu xut lp php khc nhau cha c c th ha vo bin php qun l cui cng, mc d vic p dng lut php c kh nng i ph vi hin tng chuyn dch mt cch trc tip hay thng qua cc phng din khc. 2.1.3. ng c thc y thc hin chuyn dch cng ty Gim gnh nng v thu ca cc cng ty a quc gia Xem xt h s ng k cho bn chng khon ra cng chng cho thy cc cng ty M ang thc hin (hoc t nht l xem xt thc hin) chuyn dch vi mc ch ch yu l tit kim thu. iu thu ht c bit ca s chuyn dch l n cho php cng ty tit kim thu ng k m khng cn thay i bo co hot ng hay bo co ti chnh. Cc mc ch thu c bit ca vic chuyn dch l: (1) Gim thiu trch nhim php l ca thu nh trn ngun thu nhp nc ngoi. (2) Gim ngha v thu nh trn ngun thu nhp trong nc M.

9

Mc 367 (a) ca Thng t 94 46.

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Trong trng hp thc hin chuyn dch v hai mc ch trn, ch n thun l cc cng ty mun lm gim chi ph, nh bt k mt cng ty li nhun no, v t t mnh vo mt sn chi bnh ng vi cc i th cnh tranh ca h. Theo nhn xt ca B Ti chnh, Cc quy nh thu quc t ca M to gnh nng v thu cho cc cng ty c tr s ti M so vi cc cng ty nc ngoi. Nhng iu lut ny gp phn to nn bt li cnh tranh cho cc cng ty M khi hot ng trong th trng ton cu. Cc cng ty a quc gia M c th c i th cnh tranh t cc khu vc Chu u v c h thng thu thp hn M. V d, cc i th cnh tranh c tr s ti c, H Lan, Thy S v Php, v gn y nht l Anh, c mt s trng hp l u t vo cng ty con nc ngoi, v chng ch np thu trong cc quc gia m chng u t v khng phi tr thu (hoc rt t) trn cc khon thu nhp t nc ngoi chuyn v nc. Cn i vi cc cng ty a quc gia M th b nh thu trn thu nhp ton cu, nhng khng b tnh thu hai ln thng qua khon tn dng thu nc ngoi. Nhng khon tn dng thu ny c s dng b tr vo ngha v thu M - phn thu b M nh trn ngun thu t nc ngoi. Do , c th thy rng nu thu sut nc ngoi cao hn M th s c li cho cc cng ty M v tnh cnh tranh, nhng nu thp hn, cc cng ty ny phi gnh thm mt ngha v thu trn phn thu nhp chuyn v nc. Theo thng k hin nay, M l nc c mc thu sut thu nhp doanh nghip cao so vi hu ht cc quc gia trn th gii: 39,21% (2010), ng th 2 trong 10 nc c thu thu nhp cao nht nm 2010 (sau Nht Bn) do T chc Hp tc Kinh t v Pht trin (OECD) xp hng. Do , quy nh v khon tn dng thu nc ngoi ca Lut thu M hu nh khng th xa b c bt li trong vic phi chu thu thu nhp nc ngoi ca cc cng ty a quc gia M. Chnh sch u i thu ca cc quc gia

48

Trong khi thu sut ca M rt cao so vi cc quc gia v lut thu ca n cn quy nh nh thu thu nhp ton cu, th mt s nc khc c chnh sch thu u i hn cho cc cng ty a quc gia trong nc khi khng nh thu thu nhp trn cc khon thu nhp pht sinh t nc ngoi v thm ch mt s quc gia khng h nh thu thu nhp doanh nghip trong nc (ngha l thu sut 0%) nh Bermuda, Bahamas, Islands,...Nh li th v thu nn ti y c rt nhiu cng ty a quc gia c thnh lp u t ra nc ngoi. Khng nhng th, s khc bit v mc thu sut cng nh lut thu u i ti cc quc gia ny khin nhiu cng ty a quc gia M tm cch chuyn dch cng ty ra nc ngoi, thay i quc tch sang cc quc gia c thu sut thp hn, tiu biu l cc quc gia nh Bermuda (0%), nhm mc ch ti thiu ha ngha v thu ca mnh ti M v gim bt nhng bt li v thu. Do , nhng nc c lut thu tng t nh Bermuda tr thnh ni cc cng ty a quc gia li dng trnh thu, chng c gi vi ci tn l cc thin ng thu. 2.1.4. Cch thc thc hin Bi v yu t ct li ca giao dch chuyn i l thit lp cng ty m tr thnh mt cng ty nc ngoi, cho nn bc u tin l phi tm mt cng ty nc ngoi thay th cho cng ty m hin hu ti M. Vic thay th ny c th thc hin di nhiu loi hnh thc. Cc hnh thc giao dch chuyn i khng ch c th tc ng trc tip n c tnh thu, m cn tc ng n cng ty vvic cng b thng tin, chng phi c tin hnh theo th t giao dch c th c thc hin. Cn nhn mnh ngay t u rng bn thn giao dch chuyn i thng khng thc hin theo mc ch m chuyn dch cng ty c thc hin. Thay vo , n ch thit lp khun kh theo cc giao dch c lin quan khc c thc hin (nh chuyn giao ti sn v c phn, ti cp vn, pht

49

hnh n, thnh lp cng ty con mi, vv). Cc giao dch c lin quan ny, thng thng c xem nh l mt phn ca chuyn dch cng ty. Tuy nhin, hnh thc ca giao dch ban u rt quan trng vi mt s l do. u tin, n t ra cc iu khon m giao dch ban u s b nh thu, t xc nh xem cng ty v cc c ng khi thc hin chuyn dch s cn phi tr cc chi ph thu trc hay khng v tr chng mc no. Th hai, n c th nh hng n bn cht vic cng ty cng b thng tin v cc th tc cn thit cng ty thc hin chuyn dch. Cui cng n to ra mt cu trc cng ty mi cp cao nht, khng ch lm thay i ng k cu trc thu ca doanh nghip, m cn thay i c h thng doanh nghip v c cu kim sot ca n. Cc hnh thc ch yu ca vic chuyn dch, l share inversion (chuyn dch c phn), thng c thc hin bi vic sp nhp 3 bn, v asset inversion (chuyn dch ti sn), thng l thc hin chuyn giao ti sn thnh lp mt cng ty mi. Ngoi ra, c th kt hp chuyn dch c phn v ti sn t c cu trc cp cao nht m cng ty mong mun. Ba hnh thc ny c m t chi tit nh sau: Share Inversion thng qua vic mua li c phiu ca cng ty m hin hu M. Mc ch ca hnh thc ny l thit lp mt cng ty nc ngoi mi (Newco), v tr thnh cng ty m thay th cho cng ty m hin hu M (USco)10. Theo hnh thc n gin nht, giao dch ny c th thc hin bng cch cc c ng USco trao i tt c cc c phiu ca h vi cc c phn ca Bermudaco gi l hnh thc ti c cu c in B. thc hin hnh thc ny i hi phi 80% c phn ca USco tr ln c trao i v ch trao i duy nht vi c phiu c quyn biu quyt ca Bermudaco.

10

Ngoi thay i trong c cu doanh nghip, c th gm c vic chuyn nhng gia cc cng ty

(lower-tier) nh hoc l thay i quyn hn trong ni b ca cc cng ty nh nu xt chng cn thit trong vic chuyn dch ca cng ty m.

50

t c mt s trao i nh vy, i vi c phiu ca cng ty ichng thng rt kh khn, c khi l khng th thc hin c, v n yu cu cc c ng phi u gi c phn ca mnh thc hin trao i. Do , nu trng hp ch c mt s t trong s cc c ng ng thc hin giao dch th th tc n gin ny dng nh l khng kh thi. Thay vo l thc hin sp nhp ba bn, thng c bit n nh cuc sp nhp triangular hay l sp nhp reverseS sp nhp reverse triangular C phiu Bermuda co

Sau khi thc hin giao dchC ng USco

C ng Bermudaco (C ng c ca USco)

Bermu daco

Bermu daco

SUB

Sp nhp

USco

USco

triangular, v c s dng rng ri trong cc giao dch ti t chc v mua li khc ti M. Hnh thc sp nhp reverse triangular l trng hp cng ty con ca Bermudaco sp nhp vo USco, c phiu ca cng ty con ny chuyn thnh c phiu ca USco.Tng t nh kt qu ca mt cuc sp nhp, l USco s tr thnh cng ty con thuc s hu hon ton ca Bermudaco v cc c ng ca USco s nhn li c phiu ca Bermudaco. Li th ca vic sp nhp ny l USco khng c bt k thay i trong cng ty hin hu ca n. Cng ging nh hnh thc ti cu trc B, i hi phi s dng c phiu biu quyt ca Bermudaco c c quyn kim sot USco. Nhng

51

nh cuc sp nhp ca cng ty con m cc c ng c ca USco xem nh cng trao i c phiu ca n vi c phiu c biu quyt ca Bermudaco, v cuc chuyn dch cng kh thi. Hu ht cc bo co v chuyn dch c phn l thc hin theo hnh thc sp nhp reverse triangular.11 Chuyn dch ti sn Nu hnh thc chuyn dch c phn lm thay i c cu cng ty bng cch tm mt cng ty nc ngoi thay vo v tr ca cng ty hin hu M, th ngc li hnh thc chuyn dch ti sn l hnh thc ti c cu cng ty hon ton bng vic loi b cng ty m c ti M (USco) v thay th n vi mt cng ty m nc ngoi mi (Bermudaco). Cc cng ty nc ngoi c USco kim sot trc tip trong cng mt h thng trc khi chuyn dch gi l nhng cng ty thuc quyn kim sot nm nc ngoi (CFCs), do to ra trch nhim thu cho USco i vi mt s loi thu nhp th ng chc chn hoc thu nhp Subpart F khi chng c chuyn v nc.Nhng khi USco c chuyn i thnh cng ty nc ngoi,th cc cng ty CFC ca n cng c chuyn i, v nh loi b mi trch nhim thu m USco phi gnh chu12. Theo mc ch quy nh ca cng ty, chuyn i ti sn thng c thc hin nh mt cuc ti thnh lp cng ty theo hai bc. u tin, USco thc hin ti thnh lp cng ty sang mt quc gia clut doanh nghip khng yu cu phi 100% c ng chp thun;v sau nduy tr hot ng quc gia hoc l li ti thnh lp cng ty theo o lut nc ngoi. Bc th hai ca giao dch c th c thc hin thun li

11

Chuyn dch c phn bao gm Helen of Troy (bo co 05/01/1994), Cng ty nng lng Triton (bo

co 23/02/1996), Fruit of the Loom (bo co 15/10/1998), Everest Group Re (bo co thng 1/2000), Nabors Industries (bo co 22/03/2002), Weatherford Industries (bo co 05/04/2002).12

Cng ty m mi nc ngoi c t chc cng khai, iu ny to iu kin trnh tnh trng cc

c ng ca n c cho l c ng CFC.

52

nu o lutca quc gia c th tc cho php vic cng ty nc ngoi ti thnh lp sang. Bermuda, cng u a thch ca nhiu cng ty chuyn dch, c quy nh iu l nh vy. Do , USco chuyn dch thnh cng ty Bermudaco, cng ty m mi Bermuda, v c phiu hin hnh ca USco t ng chuyn i thnh c phiu ca Bermudaco. Cng ty m nc ngoi mi (Bermudaco) mua li tt c ti sn ca USco, v chng c chuyn giao theo gi th trng ca nhng ti sn ny. Do , s chuyn dch ti sn ra nc ngoi ny hon ton b nh thu ln cng ty USco. Nu Usco s hu cc cc cng ty thuc quyn kim sot nc ngoi (CFCs), cc cng ty ny cng phi

S chuyn dch ti sn Trc khi giao dchC ng UScoC phiu Bermudac o

Sau khi thc hin giao dchC ng Bermudaco

USco

Bermudaco

Tt c ti sn ca USco

Bermudaco CFCs

CFCs

chu thu nh trn thu nhp c tc tng t nhkhi bn c phiu. Chi ph thu cao c th lm vic chuyn dch ti sn khng th thc hin trong trng hp khng c c tnh thu b tr. Khi USco c p dng thuc tnh thu b tr -

53

chng hn nh cc khon l hot ng rng hay vt qu cc khon thu tn dng nc ngoi th chi ph thu c th c gim thiu. Bi v phi chu cc khon chi ph, nn chuyn dch ti sn him khi c chn nh mt hnh thc ti c cu cng ty. Khng c g ngc nhin khi mt s cng ty thc hin chuyn i bng cch s dng cu trc ny White Mountain v Xoma chn cu trc ny k t khi chi ph thu pht sinh thu l ti thiu hoc khng chu thu thng qua vic s dng cc thuc tnh thu b tr. Tm li, i vi hnh thc chuyn dch c phiu, cc c ng ca UScl ngi chu thu khi thc hin trao i c phiu. Li ch thu trong chuyn dch l s chnh lch gia gi tr th trng ca c phiu v Cn i vi hnh thc chuyn dch ti sn, th chnh cng ty c ngha v chu thu ch khng phi cc c ng. V li ch ca hnh thc ny l chch lch gia gi th trng ca ti sn vCc cng ty s phi nh gi nh hng ti chnh ca cc hnh thc thc hintrc khi h quyt nh chuyn dch cng ty. Chuyn dch kt hp Chuyn dch kt hp tp hp cc yu t ca c chuyn dch c phn v chuyn dch ti sn. Mc ch l kt hp cc giao dch khc nhau gim thiu chi ph v thu tng th trong khi vn t c hiu qu thu ti u. Bc u tin ca giao dch l xy dng mt cu trc v cn bn tng t nh chuyn dch ti sn. Cng ty m (USco) thc hin ti thnh lp trong quyn hn php l M cho php ti thnh lp cng ty M ra nc ngoi m khng cn cc c ng nht tr tn thnh, v sau c duy tr hot ng bi cng ty mi thnh lp nc ngoi (v d nh l Bermudaco) theo quyn hn php l nc ngoi. Bc th hai ca giao dch bao gm chuyn dch cc ti sn nht nh c coi l nhn c t Bermudaco n mt mt cng ty con mi c thnh lp M (USnewsub) i ly c phiu ca Usnewsub. Vic la chn ti chuyn giao ti sn cho USnewsub ph thuc vo s kt hp tng th ca cc ti sn

54

c t chc ban u bi USco, s tng gi ca ti sn v hiu lc ca cc thuc tnh thu c th b tr vic tng gi tr ca ti sn. Ti sn m khng to ra khon tng thm ng k (built-in gain) (v d nh gn y mua cc chi nhnh nc ngoi, cc cng c ti chnh) ni chung s c gi li bi Bermudaco. Ngc li, ti sn tng gi v ti sn M s chuyn giao li cho USnewsub. Giao dch tng th c xem nh gm hai yu t: (a) chuyn giao ra nc ngoi ton b ti sn ca Usco cho Bermudaco, ngoi tr nhng ti sn ti chuyn i cho Usnewsub, v (b) chuyn giao c phiu trong nc ra nc ngoi mt cch gin tip bi cc c ng ca Usco c phiu ca Usnewsub nh mt s k tha ring ca Usco trong phm vi ca ti sn ti chuyn i t Bermudaco sang Usnewsub. Do , giao dch lm pht sinh thuln c c ng v cng ty m M. Ti sn gi li Bermudaco (cng ty m mi) c coi l chuyn giao cng vi ti sn chuyn giao ra nc ngoi, c cng nhn bi Usco (cng ty m c M). Cc phn khc ca giao dch nh l trao i c phiu bi c ng M trong phm vi ti sn c ti chuyn giao n Usnewsub (cng ty con mi thnh lp M), pht sinh ngha v thu i vi cc c ng. Kt qu l mc thu doanh nghip c th c gim thiu bng cch hn ch cc ti sn c hiu qu chuyn giao n Bermudaco m ch l cc ti sn khng to ra li nhun ng k v s dng cc c tnh thu b tr. Thu nh trn c ng c th c gim n mc ch bao gm cc nh u t min thu hay gi c phiu phn nh c thua l bn trong. Do chi ph thu nh trn c c ng v doanh nghip, cng vi phc tp ca cc k hoch thu c thit k ti thiu ha chi ph, nn chuyn dch kt hp l hnh thc tng i him khi s dng ti c cu cng ty ra nc ngoi. 2.1.5. S pht trin ca chuyn dch cng ty trong nhng nm va qua Theo nh Bo co ca B Ti chnh ghi nhn xut hin mt s gia tng ni bt gn y v quy m, tc v thng tin ca cc cuc chuyn i cng ty. Trong nm 1999,

55

c hn 6 cng ty chuyn dch, tip theo thm 2 cng ty chuyn dch vo nm 2000, v 4 cng ty trong nm 2001. Sau , c mt thi gian tm lng sau s kin ngy 11/9, nhng sang nm 2002 ang c t nht ba cng ty d nh thc hin chuyn dch c cng b (Stanley Works, NaBors, Weatherford International). Tuy nhin, bn cnh , sau s kin ngy 11/9, cng vi mi quan tm ca cng ng v s phn i gay gt ca Chnh Ph, c 7 d n lut a ra ang ch x l trong Quc Hi ngn chn s chuyn dch. Cho n nm 2009, c 10 doanh nghip ln chuyn dch tr s ra nc ngoi gim bt gnh nng v thu: Halliburton: cng ty thuc lnh vc Cng ngh v Dch v Du kh, cng b vic m mt tr s cng ty ti United Arab Emirates ca Dubai vo ngy 12 thng 3 nm 2007. Cng ty cho bit s chuyn dch ca n l mt phn trong chin lc tp trung ngun lc Trung ng thu ht kinh doanh c cng b nm 2006. Accenture: l mt cng ty t vn v l cnh tay c lc ca Cng ty kim ton Arthur Andersen ti Bermuda. Accenture thu c 662 triu $ trn mi hp ng vo gia 01/10/2001 n 30/09/2002. Theo nh lp lun ca Accenture th khng nn cho rng hot ng ca n l mt s chuyn dch cng ty bi v n cha bao gi c tr s ti M nh Arthur Andersen. Foster Wheeler Ltd: l mt cng ty k thut, chuyn dch cng ty n Bermuda vo nm 2001. Gn 70% hot ng kinh doanh ca Foster Wheeler n t cc hot ng kinh doanh quc t, v vic chuyn dch n Bermuda cho php cng ty gim ngha v thu trn thu nhp m n thu c t bn ngoi nc M. Hu ht cc vn phng chnh ca cng ty vn cn New Jersey. Ingersoll-Rand Co. Ltd .: l cng ty sn xut xe ti lnh Thermo King, c tr s ti New Jersey. Cng ty cng chuyn dch n Bermuda vo nm 2001 . Trong nm 2007, cng ty phi i mt vi vic Cc thu IRS (Internal Revenue

56

Service) tin hnh kim ton mt s khon n khi n ti thnh lp cng ty Bermuda vo nm 2002. Tyco International Ltd: lcng ty sn xut v cung cp dch v chm sc sc khe, kim sot, an ninh, vin thng v in t. Tyco International ti thnh lp cng ty Bermuda vo nm 1997. Nm 2002, Ch tch kim Gim c iu hnh ca Tyco International, b truy t v ti trn thu hn $ 1 triu USD New York. Cooper Industries Inc: l cng ty cung cp cc sn phm v cng c v in vi thng hiu ni ting nh Halo, Lumire, chuyn dch cng ty t Houston ti Bermuda vo nm 2002 v sau thu v 3,6 triu USD trong cc hp ng ca chnh ph. B Victoria Guennewig, mt pht ngn vin ca Cooper Industries pht biu: "Chng ti nhn thy rng nu da trn cc lut thu c ban hnh hin ti, r rng cc cng ty M b t vo th bt li kinh t so vi cc cng ty nc ngoi". Noble Drilling Services Inc: cng ty khai khong du v kh t nhin ln th t trn th gii, c tr s ti Cayman Islands nhng thc cht cng ty hot ng Sugar Land, Texas. Nm 2002, M bt u tin hnh chin dch loi b Noble v chn cng ty khc ca M c tr s chnh nc ngoi. Global Crossing: Global Crossing cung cp cc gii php vin thng u tin ca th gii hp nht mng IP trn ton cu. Cng ty ny c tr s hp php ti Bermuda, mc d tr s hnh chnh ca n l New Jersey. Seagate Technology LLC: l cng ty thit k, sn xut v marketing cc a cng c tr s ti California, v chuyn dch sang Cayman Islands. Nabors Industries Ltd: l nh u thu du v kh ln nht th gii, chuyn dch t Texas n Bermuda v Barbados vo nm 2002. Nabors Industries bo co 428,4 triu USD li nhun M trong nm 2005 v s ch tr thu 86 triu USD trn s tin .

57

2.1.6. Cc chnh sch t ra i vi chuyn dch cng ty Chuyn dch cng ty ra nc ngoi c xem nh l hnh ng thch hp gim thiu cc tc ng tiu cc ca lut thu M, chnh cc lut v thu t cng ty a quc gia ca M vo th bt li cnh tranh so vi cc cng ty a quc gia c tr s nc ngoi. Ngc li, mt s nh bnh lun li xem vic chuyn dch nh l hnh vi khng yu nc. Da trn hai dng kin tri ngc nhau, c nhiu kin c trnh by lin quan ti bn cht ca hnh vi chuyn dch. Tc ng tiu cc ca chnh sch thu i vi s chuyn dch cng ty ra nc ngoi l khng th nghi ng g. mc k thut, cc giao dch chuyn i c thit k t c mc tiu l nm ngoi h thng m Quc Hi thit lp chnh sch thu cho cc doanh nghip M.13 Chuyn dch cng ty lm thay i trng thi ca n cho mc ch thu m khng cn phi chu bt k thay i ng k trong t chc v hot ng. Thay i tnh trng thu theo quy m ny m khng chng minh do vic kinh doanh thay i, c th lm suy yu nim tin ca cng chng trong vic thng nht v cng bng ca h thng thu. iu ny th hin mt nguy c nghim trng cho h thng thu ca M, da trn s tun th t nguyn. Hin tng chuyn dch nu ln nhng bt cp ca h thng thu c th l do: (i) thiu st trong cc iu l c bn v thng nht quan nim, (ii) l hng trong cc quy nh v k thut v (iii) khng hon ho v c ch thc thi. Cc nh bnh lun v thu xem chuyn dch nh l mt sn phm c nhng thiu st trong vic thng nht quan nim c bn ca lut thu, v h lun lun nhn mnh rng mc tiu gim thiu thu thng qua chuyn dch c th hp php ha thng qua cc phng tin khc. Bi s nh hnh ngay t u thng qua cng ty m nc ngoi, do c th t c tit kim thu nh nhau thng qua giao dch chuyn dch sau

13

Bo co NYSBA

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. C th cho rng, vic cng ty nc ngoi mua li cng ty M v c bn c th t c kt qu nh nhau, loi b nhng tc dng trong phm vi quyn hn v thu ca M.14 Cc tranh lun ny xem vic cng ty t b quc tch l phn ng li cc gnh nng thu bt cn xng p t ln cc cng ty a quc gia M. Theo phng php ny c xc nhn bi Bo co ca B Ti chnh v chuyn dch Lut thu quc t ca M s dng p t gnh nng ln cc cng ty a quc gia c tr s M khng cn xng so vi cc gnh nng v thu m cc cng ty a quc gia cc nc i tc phi chu. Hot ng chuyn dch gn y cng vi vic thn tn t nc ngoi ca cng ty a quc gia M tng ln l bng chng cho thy nhng bt li v cnh tranh do cc lut thu quc t ca M, l vn nghim trng gy ra nhng hu qu ng k cho cc doanh nghip v nn kinh t M. Nhng kt lun ny cn ang tranh ci nn khng c h tr nhng d liu thng k r rng. Tuy nhin, Bo co B Ti chnh dng nh chp nhn l do bt li trong cnh tranh v s dng yu t ny trong vic h tr cho nhim v thay i cu trc thu nc ngoi ca M. L do bt li cnh tranh da trn gi nh Hoa K c t phm vi nh thu trn thu nhp ca cc cng ty c tr s chnh trong nc rng hn so vi cc nc khc. Vi l l thng xuyn a ra l thc y cc li ch ca thu trong lnh th. Tuy nhin, iu ch quan trng l Hoa K khng ch duy nht nh thu trn thu nhp ton cu ca cc cng ty a quc gia c tr s chnh trong phm vi quyn hn ca n, v hin ang nh thu trn c phn thu nhp thu ng ca chng thng qua ch chng tr hon (anti-deferral) (ngn chn ngun thu nhp t nc ngoi c gi li vnh vin ti cc cng ty nc ngoi).

14

Bo co NYSBA v Bo co B Ti chnh v chuyn dch

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Da vo cc yu t thun li ca chuyn dch cho thy vic khng phn bit gia cc cng ty c tr s M v nc ngoi c th gp phn lm cho chuyn dch xy ra. C t nht hai cch thay th gii quyt vn ny. Th nht, cc nguyn tc ca lut thu c tr phi c nh gi li m bo rng thu c tr c xc nh bi cc quan h kinh t ca cng ty a quc gia v M. Th hai, khung quy nh v min thu cn c sa i nhn mnh tnh hu hiu ca cc li ch phi thu quan ti cc nc c tr. Tm li, vic chuyn dch cng ty ra nc ngoi c th phi i din vi vin cnh suy gim dn. S quan tm ca cng chng tng ln, thm vo l d nh thc hin chuyn dch ca Stanley Works, cng vi s hm da ca php lut sp ti, ngn chn mt ln sng mi ca vic t b quc tch ra nc ngoi c tr ca cc cng ty a quc gia. Nhng nu xem xt chnh sch phng din rng hn thy rng tin trnh di di x ca cng ty s khng d dng bin mt. Trong th gii ca doanh nghip a quc gia, th vic xem xt v phm vi quyn hn ca thu, li ch kinh t v qun tr doanh nghip c coi l nn tng. 2.2. Stanley Works v k hoch Inversion

2.2.1. Gii thiu v cng ty Stanley Works Stanley Works c thnh lp vo nm 1843 New Britain, Connecticut bi Frederick T. Stanley, chuyn sn xut v cc dng c trong gia nh. Nm 1920, Stanley Works sp nhp vi cng ty Stanley Rule & Level mt cng ty cng ngnh chuyn sn xut v cc cng c v thit b bng tay c thnh lp bi mt ngi anh h ca Frederick T. Stanley, y chnh l mt ct mc quan trng gp phn vo s pht trin Stanley. Vi cht lng cao, cc i mi ph hp v ci thin hot ng tt th Stanley nh v c thng hiu ca mnh. Hin nay, Stanley l cng ty hng u trong vic sn xut cc cng c M vi doanh thu khong 2.6 t USD nm 2001 (doanh thu cp nht n ht nm 2010 l khong 8,41 t USD) vi gn 15.000 lao ng. L

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nh sn xut ton cu, c mt 18 quc gia, chim khong 20% th phn. Stanley hot ng trong hai nhm chnh, th nht l sn xut cc cng c chim khong 77% doanh thu v th hai l cc loi ca chim 23% doanh thu. Nhm cng c sn xut chuyn v cc cng c bng tay cho ngi tiu dng v c nhng ngi s dng chuyn nghip, nhng cng c c kh cng nghipNhm th hai sn xut cc h thng ca n gin cho gia nh cng nh h thng ca t ng cho cc trung tm thng mi v cao c. Cc sn phm ca Stanley n tay ngi tiu dng thng qua cc trung tm, h thng bn l ln nh Home Depot, Sears v Wal-Mart, v hu ht doanh thu ca cng ty cng n t cc h thng bn l ny, ring Home Depot trong nm 2001 ng gp khong 18% doanh thu ca tp on. Hin nay, bn cnh hai nhm ngnh chnh th Stanley Works cn u t vo nhiu nhm ngnh khc. 2.2.2. K hoch Inversion ca Stanley Works Stanley Works cng nh nhiu cng ty a quc gia khc t tr s ti M cm thy ngy cng b nng bi h thng thu thu nhp doanh nghip ca quc gia ny. Thu nhp ti M ca Stanley Works b nh thu vi mc thu sut 35%. Mc thu sut ny ch thay i ln hoc xung khong 1% trong hn 15 nm nay v tr nn ngy cng cao so vi mc thu sut thu doanh nghip trn ton cu do nhiu quc gia ng lot ct gim mc thu sut thu doanh nghip mt cch ng k trong sut nhng nm 1990. N thc s tr thnh vn khi m Stanley v cc cng ty a quc gia khc phi i mt vi vic ngy cng c nhiu khon thu nhp pht sinh bn ngoi nc M trong khi c quan thu Hoa K khng ch nh thu ln cc khon li nhun bn trong quc gia mnh m cn nh thu ln tt c nhng khon li nhun ny khi chng c hi hng v cng ty m hay c khi khng hi hng (theo Subpart F trong b lut thu IRS, mc 951 964). Nu Stanley ti chu u hot ng to ra li nhun, u tin h phi ng thu cho chnh ph nc s ti, chng hn nh Php hoc c, v sau

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phi ng thm thu trn kho li nhun ny khi n c hi hng v cng ty m khon ih M. Hnh 2.1. Ngha v thu ca Stanley Works ti M trc khi thc hin chuyn dch thu c th cng ty ra nc ngoi.

Ngun: Stanley Works and Corporate Inversion, Exhibit 1. n: Phn ln doanh thu v l nhun ca Stanley n t cc chi nhnh bn ngoi n n li nc M ni c gn 50% nhn vin ca cng ty c tr. Hn na, cng ty cn c m t l n c a, mt nguyn vt liu ngy cng t u tng n t nhiu ngun trn th gii. i. Trc thc trng trn cng nh ln sng Inversion trong thi gian va qua th nh ng c i v thc hin Inversion Bermuda c ban qun tr ca cng ty quan tm t Nu n a ti. chin lc ny c th hin s gp phn tng cng tnh linh hot trong hot ng c thc ho ca cng ty, gia tng s cnh tranh trn th trng ng thi gip cng ty tit kim ng sc i ti c mt khon thu ng k. y l sng kin mang tnh chin lc s tng cng n chi sc mnh cho cng ty trong di h nh hn.

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Hnh 2.2. Ngha v thu ca Stanley Works ti M sau khi thc hi chuyn dch cng thu c hin ty ra nc ngoi.

Ngun: Stanley Works and Corporate Inversion, Exhibit 2. n: Vo ngy 8 thng 2 n 2002, Stanley Works (M) tuyn b s thc hin chuyn dch nm cng ty n Bermuda. 2.3. Li ch v chi ph ca Stanley Works khi thc hin Inversion i ch c hi

2.3.1. Nhng li ch ca Stanley Works khi Inversion ng l Gim thiu ngha v thu thu Th nht, Bermuda l in hnh ca hu ht nhng trung tm ti chnh nc ngoi t, ng n khng nh thu i v cc khon thu nhp ngoi nc. (Trong th t, Bermuda i vi c. thc

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khng c thu thu nhp doanh nghip). Li nhun ca Stanley c to ra trn khp th gii c th c phn phi li mt cch t do xuyn sut qu trnh kinh doanh ton cu, bao gm c cng ty m, m khng phi chu thm bt k ngha v thu no ti quc gia t cng ty m (t ti Bermuda thay v M). Vi k hoch Inversion cng ty ra nc ngoi, Ch tch v Gim c iu hnh John Trani cho rng c tnh linh hot trong hot ng v s hiu qu thu u c ci thin. C th, Trani d on rng thu sut thu thu nhp Stanley s gim c 7% n 9% t mc thu sut hin ti l 32% xung 23% n 25%. S dng bn d tho ti chnh c tnh thu nhp cho nm 2003, Stanley d kin s phi tr 134 triu USD tin thu vo nm 2003 nh trn 420 triu USD thu nhp trc thu. iu ny cng ng ngha vi vic, nu thc hin Inversion, Stanley Works s tit kim c khong 30 triu USD ngha v thu mi nm15. Gi s mt t l li sut 2,5%, hn 10 nm ny s cho kt qu trong mt khon tit kim 263 triu USD nu quy v hin gi. ng thi, Stanley Works c tnh rng li nhun cao hn ca cng ty t vic thc hin Inversion c th lm thu nhp trn mi c phn (EPS) tng khong 11,5%.

15

Stanley nht qun theo mt c tnh thn trng khi cng b ra cng chng l c th tit kim c 30 triu USD tin thu mi nm. Cch tnh ny tri ngc vi cch tnh ra con s 33 triu USD y

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Bng 2.1. Nhng thay i c tnh trong thu nhp ca Stanley Works sau khi thc hin chuyn dch

Trc Thu nhp trc thu Thu (32%/24%) Thu nhp sau thu S c phn ang lu hnh Thu nhp trn mi c phn $420 (134) $286 88.0 $3.250

Sau $420 (101) $319 88.0 $3.625

Tit kim

+ $33

+ $0.375 or 11.5%

Ngun: Stanley Works and Corporate Inversion, Exhibit 3. Th hai, nhng hot ng ca Stanley M by gi s c thc hin nh l cng ty con t ti M ca mt cng ty nc ngoi. iu ny s dn n kh nng ti cu trc li doanh nghip, theo cng ty con ti M s gia tng ngha v i vi cng ty m ti Bermuda nh tin bn quyn, dch v n, l ph cp giy php, l nhng khon ph hp php c th c gim tr M, nhng li l khon thu nhp cho cng ty m Bermuda. Kt qu l lm gim trch nhim thu ti M khi Stanley tin hnh hot ng kinh doanh trn quc gia ny. Kha cnh th hai ca nhng li ch v thu khi thc hin chuyn dch doanh nghip thng c gi l earnings stripping. Thut ng ny cp n vic c cu li hot ng ca doanh nghip trong nc M c nhng khon chi ph hp php gim tr vo li nhun chu thu. iu ny c thc hin nhng mi trng c mc thu sut cao nh nc M.

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V d, mt cng ty con M c th vay tin t cng ty m nc ngoi v tr n vi li sut cao. Php lut v thu Lin bang ni chung cho php cc cng ty c th khu tr cc khon thanh ton li sut khi tnh thu nhp doanh nghip chu thu, do lm gim cc loi thu cho cng ty con M. Trong khi , cc cng ty m nc ngoi (cc thin ng thu nh Bermuda ) nhn c cc khon thanh ton li sut m li khng chu thu thu nhp doanh nghip hoc b nh thu rt thp. V th ba, l phn ng ca th trng vn i vi s ti cu trc ny. Tnh trung bnh, gi c phiu ca cng ty s tng 1.7% khi thng tin v chuyn dch cng ty ra nc ngoi c cng b. S gia tng ny chnh l hin gi ca dng tin tit kim c t vic ct gim thu nh trn ngun thu nhp nc ngoi v trn cc khon thu nhp trong nc (M). y chnh l kt qu ca vic ti cu trc hot ng ca cng ty sau khi thc hin chuyn dch. To iu kin cnh tranh cho doanh nghip Thay i ny s tng cng tnh linh hot trong hot ng ca cng ty, gip cng ty qun l cc dng tin quc t v i ph vi cu trc thu quc t phc tp tt hn. Kt qu, lm gia tng kh nng cnh tranh Stanley tr thnh mt thng hiu ln. Mi trng kinh doanh, kim sot v chnh sch thu Bermuda c k vng s to ra gi tr ng k cho c ng. Bn cnh nhng li ch mang li nh tnh linh hot trong hot ng, kh nng qun l dng tin trn ton th gii c ci thin v nhng li th cnh tranh, cu trc doanh nghip mi ny cn lm gia tng kh nng tip cn th trng vn quc t to iu kin cho s tng trng hu c, s lin minh v mua li mang tnh chin lc trong tng lai. Thm vo , iu ny c nhn mnh vi nhng quan ngi ca William Millerick, trng phng thng mi ca Stanley New Britain, ng lu l Cooper Industries v Ingersoll-Rand, hai i th cnh tranh ca Stanley works va mi thc hin Inversion gn y, v ang y Stanley works vo th bt li.

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2.3.2. Nhng yu t cn tr Stanley thc hin Inversion nh hng n uy tn cng ty Khi thc hin Inversion, cng ty s khng mang quc tch M na. Uy tn cng ty c th st gim ng k theo th hiu ngi tiu dng. Rt nhiu nh tiu dng phn bit s a thch sn phm da trn xut x ca hng ha. C mt iu gn nh chc chn l khch hng s sn lng chi tr vi mc gi cao hn cng nh nh gi l cht lng cao hn cho sn phm mang thng hiu M hn l Bermuda. Chi ph s dng vn ca cng ty khi t ti nc ngoi c kh nng cao hn cc i th cnh trnh v cc nh cho vay s cm thy ri ro cng nh pht sinh nhiu chi ph hn. V d nh, lut doanh nghip ca Bermuda khuyn khch cc doanh nghip s dng n. V y cng s tr thnh mt mi trng php l khng thn thin ngn cn cc nh cho vay i li cc khon u t vn trong trng hp cng ty mt kh nng thanh ton cho cc ngha v ca mnh. V th, ch n s i hi t sut sinh li cao hn cho ri ro tng thm ny, gy nn chi ph ln hn cho vic thay i cu trc cng ty. Phn ng ca ngi lao ng v c dn a phng Stanley Works l mt trong nhng cng ty cng nghip ln nht New Britain, l nim t ho ca c dn New Britain khi m cng ty c mt b dy lch s hn 160 nm. Tuy nhin k hoch Inversion ny c th khin cho ngi lao ng ni y lo lng v cng vic ca h, s dch chuyn cng ty ra nc ngoi cng ng ngha vi vic cng vic ca h cng s b dch chuyn theo. Chnh iu ny gy ra ln sng phn i trong d lun v nhng ngi lao ng. V quan trng hn, iu ny c th nh hng n mi quan h tt p gia cng ty v c dn a phng. Phn ng ca c ng Nhng li ch v pha cng ty c th nhn c khi thc hin Inversion l khng th chi b. Tuy nhin ng kha cnh cc c ng h s c kh nng chu thu trn

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phn thu nhp c ghi nhn do qu trnh bn hay trao i c phiu cho cng ty m mi nc ngoi. c tnh i vi cc c ng hin ti ca Stanley Works M s phi chu mt khon thu tng ng vi 150 triu USD nu tin hnh Inversion Inversion cng s hn ch nhiu c quyn ca c ng hin hu ca cng ty M. Chng hn, Bermuda khng cho c ng quyn c tc ng n cc quyt nh then cht nh hng n tng lai ca cng ty ca ban iu hnh: khng c quyn biu quyt khi cng ty x l mt lng ln ti sn. Hn na, lut Bermuda hu nh hn ch cc giao dch ni b bi cc nh iu hnh v gii hn nhiu trng hp m cc c ng c th kin co. Nhng iu ny c th khin cho cc c ng ca Stanley Works phn i k hoch ny. Cc chi ph khi thc hin Inversion Chi ph ca o chiu bao gm khng ch l chi ph hnh chnh thc hin inversion, m cn l li vn tng theo trch nhim php l thu ca h (Desai v Hines (2002) ) Cc chi ph ny c a ra chng li cc li ch ca Inversion, trong bao gm li ch t thu lnh th, mc thu thu nhp thp hn, v c hi g b cc khon thu nhp t M Phn ng t gii chnh tr K hoch ca Stanley Works thu ht s ch ca ng o mi ngi, c bit l t gii chnh tr. Sau khi Stanley cng b k hoch, tt c mi ngi t John Sweeney, ch tch ca AFL-CIO, cc chnh tr gia ca chnh ph ch trch ng thi ny. Mt vn phc tp l k hoch ca Stanley tr thnh mt qu bng cho gii chnh tr. N lm ni dy cc vn trong h thng thu M v tr thnh mt vn trong cuc ua chnh tr gia ng Cng ha New Britain i din l Nancy Johnson v ng Maloney, mt ng c vin khc vo mt gh trong quc hi. Mi ngi u hiu rng nu khng thay i thu th c l s