Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (11)

GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT “BUILDING AND SELECTING BUSINESS STRATEGY FOR VINACONEX CONTRUCTION AND IMPORT – EXPORT JOINT STOCK COPORATION TILL 2015” Group number: Group Student’s name: X0610 Ms Lan, Nguyen Thi Phuong (Team Leader) Mr Quy, Le Minh Mr Vu, Pham Anh Mr Chung, Nguyen Thanh Ha Noi, Jan 2012 ACKNOWLEDGEMENT Firstly, we would like to express our great appreciations to lecturers, professors, doctorsand doctors at Centre for Educational Technology and Career Development – Vietnam National University and Griggs University who have brought helpful and interesting courses to all program attendants, especially those who have enthusiatically supported us in the completion of this assignment During the performance of this assignment, we could have made some inevitable mistakes and we hope to receive your kind supportive opinion in order to make the assignment of Team No.2 be more corrective and completed Throughout the execution of this assignment as well as discussions, we have received kind supports from lectures, especially, Professor Ph.D Vu Thanh Hung who has enthusiasticallyenthusiastically provided helpful ideas to support our team to complete our assignment We also express our appreciation to leaders of VINACONEX Corporation who have supported us to access the firm’s data and information and provided us with references so that we can complete our assignment Members of Team No.2 - GaMBA X06.10 Hanoi, Nov 22nd 2011 Group Leader LAN, NGUYEN THI PHUONG Capstone Project Report Gamba01.X0610 - Group 2 TABLE OF CONTENTS ACKNOWLEDGEMENT GENERAL INTRODUCTION Reason for selecting the topic and the meaning of research topic Objectives and Scope of the research Research Methodology Structure of topic CHAPTER I: GENERAL RETIONALE FOR BUSINESS STRATEGY DEVELOPMENT 1.1 Overview of Business Strategy 1.1.1 The concept of business strategy 1.1.2 Characteristics of business stratergy 10 1.1.3 The role of business strategy 10 Capstone Project Report Gamba01.X0610 - Group 1.2 Strategy development process 11 1.2.1 Organization’s missions and goals identification 11 1.2.2 External Factor Evaluation 12 1.2.2.1General factors (PEST) 12 1.2.2.2 Industry factors 15 1.2.2.3 External Factor Evaluation 16 1.2.3 Internal Factor Evaluation 18 1.2.3.1 ResourceResour Analysis 18 1.2.3.2 Value chain Analysis 19 1.2.3.3 Corporation Culture And and Reputation Analysis 20 1.2.3.4 Internal Factor Evaluation 20 1.2.3.5 SWOT matrix Capstone Project Report Gamba01.X0610 - Group 22 1.2.4 Support1.2.4 Support tools for strategy selection 22 1.2.4.1 SPACE 23 1.2.4.2 BCG 23 1.2.4.3 TOWS 25 1.2.4.4 QSPM 26 CHAPTER II: ANALYSIS OF VINACONEX CORPORATION’S BUSINESS SITUATION IN RECENT YEARS 28 2.1 Corporation Overview 28 2.1.1History and development 28 2.1.2 Organizational structure 29 2.1.3 Achievements and problems 30 2.2Analysis of current business strategy development at VINACONEX 31 Capstone Project Report Gamba01.X0610 - Group 2.2.1 The fundamental basis for business strategy development 31 2.2.1.1 Define the demand for strategy developement 32 2.2.1.2 The basis for strategy development 32 2.2.2 External Factor Evaluation 32 2.2.2.1PEST Analysis 32 2.2.2.2 Industry factors 36 2.2.2.3 External Factor Evaluation (EFE) Matrix 42 2.2.3 Internal Factor Evaluation 43 2.2.3.1Value chain Analysis 43 2.2.3.2 Financial Analysis 46 2.2.3.3Corporation Culture and Reputation Analysis 50 2.2.3.4 Internal Factor Evaluation (IFE) Matrix Capstone Project Report Gamba01.X0610 - Group 50 2.3 Strategic planning tools 52 2.3.1 BCG Matrix 52 2.3.2 SWOT matrix for construction products 53 2.3.2.1 Strengths 53 2.3.2.2 Weaknesses 53 2.3.2.3 Opportunities 53 2.3.2.4 Threats 53 2.4 A2.4 A few comments on the Corporation's business and production 57 2.4.1 Achievements 57 2.4.2 Problems and the causes 57 CHAPTER III: BUSINESS STRATEGY VINACONEX CORPORATION TILL 2015 AND SOLUTIONS FOR IMPLEMENTATION 59 Capstone Project Report Gamba01.X0610 - Group 3.1 Recognizing the industrial trends toward 2015 59 3.2 VINACONEX Corporation’s Business Strategy development and selection 64 3.3 Strategy implementation methods 73 3.4 Recommendations and proposals 74 CONCLUSION AND PROPOSAL 77 REFERENCE 79 Capstone Project Report Gamba01.X0610 - Group GENERAL INTRODUCTION Reason for selecting the topic and the meaning of research topic At present, in the context of extreme competitiveness happening in every aspect of business and the severe crisis on financial and monetary market, in order for a firm to survive and grow, the most important and necessary task is to drive the firm toward the right direction that suits to fluent and sudden changes in business environment so as to obtain high level of adaption and to ensure the sustainable development for the firm To achieve that goal, every firm has to determine and develop nothing but its own suitable business strategy It’s all because business strategy means the foundation, the compass for every activity of that firm Hence, this is the common and main issue of firms, including those engages in construction sector – the sector that is growing rapidly in accordance with consuming trend, the sector that satisfiessastisfies one of the three fundamental needs of human which are food, shelter and entertainment Each firm needs to develop a sound business strategy which is appropriate with continuously changing high competitive environment and at the same time suitable with its own condition and situation This is the motivation for our research on the topic “Business strategy development at Vietnam Construction and Import-Export Joint Stock Corporation (VINACONEX Corporation) in the period 2012-2015” in order to figure out the right direction for the firm in present context Objectives and Scope of the research In this research, we - a team of class X0610 (Team No.2) – are comprised of following members: - Lan, Nguyen Thi Phuong Capstone Project Report Gamba01.X0610 - Group - Quy, Le Minh - Vu, Pham Anh - Chung, Nguyen Thanh On the basis of business environment analysis, the team appliesapply the two models: BCG and SWOT in developing business strategy for VINACONEX for the next period VINACONEX comprises one wholly owned company, 35 subsidiaries with joined capital from 50% and above, joint ventures, 17 associated companies The Corporation also invested capital into 19 other companies In the scope of this assignment, our team focus on analyzing the business of Vietnam Construction and Import – Export Joint Stock Corporation - VINACONEX and its real estate business VINACONEX có 01 Cơng ty 100% vốn, 35 cơng ty có vốn góp 50% Tổng cơng ty, công ty liên doanh, 17 công ty liên kết, ngồi góp vốn 19 đơn vị khác Vì vậy, đề tài nhóm chúng tơi tập trung phân tích hoạt động kinh doanh Tổng Cơng ty cổ phần xuất nhập xây dựng Vinaconex lĩnh vực hoạt động kinh doanh bất động sản At present, the operation of real estate business meets plenty of difficulties DespiteInspite of being a big company, the company has still made some wrong moves that were not appropriate with the company’s real capacity Attending the program has provided our team with important supplementary knowledge so that we have tools to analyze and to evaluate the presenting situation of VINACONEX in order to obtain solutions to develop strategy that suits the real estate operating market which is sinking into crisis so as for VINACONEX to grow stably in new period To develop the business strategy, our team has made analysis based on following basic issues: - Analysis of present real estate market; Capstone Project Report Gamba01.X0610 - Group 10 Tăng vốn, mở rộng quy mô hoạt động đầu tư hoạt động sản xuất kinh doanh Tổng Công ty sở tập trung vào lĩnh vực kinh doanh mạnh xây lắp bất động sản Quá trình mở rộng phát triển làm tăng giá trị doanh nghiệp, củng cố phát huy thương hiệu VINACONEX Khía cạnh xã hội hoạt động Tổng Công ty tiếp tục trì thúc đẩy, đảm bảo việc làm cho 43.000 cán công nhân viên làm việc Tổng Công ty đơn vị thành viên Việc tăng vốn đảm bảo cho Tổng Cơng ty có cấu nguồn vốn ổn định hơn, giảm thiểu rủi ro bối cảnh kinh tế vĩ mô bất ổn Khi Hệ số Nợ/ Vốn chủ sở hữu dự kiến giảm, số Khả toán tăng - MinimizeCut down investment activities in the context of macroeconomic difficulties To The ppromoteion of investment activities in hard the period of difficult macroeconomic situation which leads to thewill increase in the cost of capital and, reducinge investment efficiency The early completion of in-progress projects being implemented is necessary to havegenerate more cash flow from business operations in these projects; nevertheless, , but the deployment of new investment projects should be weighedconsidered carefully and applied performance to slow down schedule prolonging if needed.should be applied upon requirement VINACONEX primarily involved in investment projects of large scale and long investment period The investment restrictions should be of particular interestpaid special attention in order to avoid the lack of investment capital due to excessivespreading investment and reduclessened efficiency - Giảm thiểu hoạt động đầu tư bối cảnh kinh tế vĩ mơ khó khăn Đẩy mạnh hoạt động đầu tư giai đoạn tình hình kinh tế vĩ mơ có nhiều khó khăn làm gia tăng chi phí sử dụng vốn, giảm hiệu đầu tư Việc sớm hoàn thành dự án đầu tư triển khai cần thiết để có thêm dịng tiền từ việc vận hành Capstone Project Report Gamba01.X0610 - Group 94 sản xuất kinh doanh dự án này, nhiên việc triển khai dự án đầu tư cần cân nhắc kỹ lưỡng thực dãn tiến độ cần VINACONEX chủ yếu tham gia đầu tư dự án có quy mơ lớn giai đoạn đầu tư dài Việc hạn chế đầu tư cần quan tâm đặc biệt để tránh việc thiếu nguồn vốn đầu tư nhiều giảm hiệu - Limit Control the growth and expansion inof business scale, focusconcentrating oin the development of intensive operations and activities that bring high added value In the past few years, with the easing monetary policy of the State Bank, VINACONEX has takenook advantage of loansborrowed fund and accounts to promote growth and expand its production scale Until the present time, thesuch development model has been showeding the negative aspectseffects: production and business activities expanded rapidly but did not go into depth, did not create business advantage with competitors at the same sector, loansborrowed fund caused much pressures on the financial cost and cash flow With the current conditions, VINACONEX can afford to focus on developing intensive activities and activities tothat bring high added value, creating better competitive advantage than in the peers, whileand simultaneously delivering greater efficiency from these activities One of the practical directions is to continue investing in research and application lying of new building construction technologies - - Hạn chế tăng trưởng mở rộng quy mô, tập trung phát triển - hoạt động chuyên sâu hoạt động mang lại giá trị gia tăng cao Trong năm qua, với sách thả lỏng tiền tệ Ngân hàng nhà nước, VINACONEX tận dụng nguồn vốn vay chiếm dụng để đẩy mạnh tốc độ tăng trưởng mở rộng sản xuất quy mơ Đến thời điểm tại, mơ hình phát triển thể mặt tiêu cực nó: Hoạt động sản xuất kinh doanh mở rộng nhanh chóng Capstone Project Report Gamba01.X0610 - Group 95 không vào chiều sâu, không tạo lợi kinh doanh với đối thủ ngành, nguồn vốn vay gây áp lực chi phí tài dịng tiền - lớn Với điều kiện tại, VINACONEX có đủ khả tập trung phát triển hoạt động chuyên sâu hoạt động mang lại giá trị gia tăng cao, tạo lợi cạnh tranh hẳn so với doanh nghiệp ngành, đồng thời mang lại hiệu lớn từ hoạt động Một hướng thiết thực tiếp tục đầu tư vào nghiên cứu - ứng dụng công nghệ xây dựng IncreasingBoost debt collection The weak Cash flow from cash flow from weak performances in 2011 are was primarily influenced by the shrinkingreduction in funds extracted from working capital appropriated from the capital This is also athe reflection of the difficult macroeconomic situation into the financial situation of enterprises One of the important financial solution is to unfreeze the working capital, strengthenboost the collection of debts in order to reduce the pressures on capital whileas well as to enhancinge the efficiency of performance - Tăng cường thu hồi công nợ - Dòng tiền từ hoạt động kinh doanh yếu năm 2011 có ảnh hưởng từ việc co hẹp nguồn vốn chiếm dụng từ vốn lưu động Đây phản ánh tình hình vĩ mơ khó khăn vào tình hình tài doanh nghiệp Một giải pháp tài quan trọng khơi thơng dịng vốn lưu động, tăng cường cơng tác thu hồi công nợ nhằm giảm sức - ép vốn đồng thời tăng cường hiệu hoạt động Enhancinge the management and cost savings As a large enterprise, operating costs for the whole apparatus of VINACONEX and its subsidiaries incurred huge In thissuch difficult context, reducingcutting direct costs directly bring out greater efficiency to business operations, while saving resources of the business Capstone Project Report Gamba01.X0610 - Group 96  Tăng cường quản lý tiết kiệm chi phí Là doanh nghiệp lớn, chi phí vận hành cho máy VINACONEX công ty phát sinh lớn Trong bối cảnh khó khăn, việc cắt giảm chi phí trực tiếp mang lại hiệu cao cho hoạt động kinh doanh, đồng thời tiết kiệm nguồn lực doanh nghiệp Financial solution The Corporation will concentrate and optimize financial resources in order to implement the program on housing in accordance with the Party and Government’s guideline “Take part in regulating the housing market in Vienam, replicate the model of synchronized and modern urban areas in locals nationwide”  Establish the management mechanism for equity of parent company – The Corporation and create a fiancial link with member companies, using financial mechanism as one of management tools of the Corporation Keep on strengthening the management of equity to ensure the safety, effectiveness and growth of state-own capital  On the basis of the Corporation’s business plan for the period 2010-2015, the demands for capital was set up and balanced from available funds, fund added from annual business surplus, from sales of projects, from mobilization and borrowings, bonds issuing…in order to ensure the adequate funds for Corporation’s strategic objectives, giving priorities to housing development Strategy 3: Strategy of human resource development  Select and employ experts, recruit experienced and well-trained staffs; Cooperate with Universities and training centres to select good graded students right from graduating year Capstone Project Report Gamba01.X0610 - Group 97  Training skill workers, specialized worker in accordance with the business of each enterprise  Keep on strengthening the organization of the Corporation on the basis of strengthening the efficiency in the management of state-owned fund  Give priority in using state-owned captial for the objectives of housing development in 5-years plan through specific annual tasks and goals, specific mission of each member company to ensure the uniform implementation  Implement regulations on action coordination approved by the Group members council Develop action plan, specifying the five areas: Investment, construction and production of building materials; consumption of materials and product design consultancy  Optimize the strength of the Corporation and member companies 3.3 Basing on the oppotunies and threats that VINACONEX is facing with, Team No.2 proposeproposes the method to access the business strategy of VINACONEX as follow:  Focus on 32 major specialized businesses  Construction  Real estate  Other businesses: Cement, Power plants, Water supplying plant, schools  The major businesses need to focus on following issues:  Continue to pursue projects with large scale that create high commercial profit  Aquiring 100% of ownership at construction and consultancy companies Capstone Project Report Gamba01.X0610 - Group 98  In case a member company engages in more than business, then business should be transferred to another member company a member company should focus on the business that the company have comparative advantage  After transferring the business without comparative advantage, the process of merging will be implemented between member companies in construction sector into a specialized unit  VINACONEX transfers the assets that belong to the Group in construction and real estate to parent companies in responding sector  Use the parent company in real estate sector as a mean to mobilize land  In regard to other bussinessed, the following issue need to be focused:  Reduce the the stake in business that VINACONEX has no comparative advantage  Cooperate or joint a venture with specialists of partners and just need to remain the miminum capital ratio of VINACONEX in that venture  The implementation of above proposals will bring out following benefits to VINACONEX  Focus on specialized sector in order to boost the development and get superior benefit  Effectivness in management and dicision making  Strengthen the economic scale  Reduce the use of VINACONEX’s capital in investment  Flexibility in refinancing Capstone Project Report Gamba01.X0610 - Group 99  Comforting investors who are searching for imformation about VINACONEX business 3.4 Recommentdation and proposals 3.4.1 Missions in period 2012-2015 Till 2015, VINACONEX will be the regional leading company in Real estate and construction business To achieve that goal, VINACONEX need to conduct following steps: - Business developement  Define the orientation of development strategy  Set goals and develop criteria for evaluation of activities to identify and evaluate the progress achieved as well as to control / manage in case of deviation - Organizational restructure  Help VINACONEX effectively structure different businesses in order to develop clear guideline on supervision, possession, communication and financial principle  A transparent and effective structure will attract more strategic partners and foreign investors - Business administration, especially financial management / đặc biệt quản trị tài  Strive to ensure that VINACONEX and member companies comply with regulation without any mistake  Is important in upgrading the positioning of VINACONEX to international scale Capstone Project Report Gamba01.X0610 - Group 100  Good and transparent business administration will create the trust to partners and potential investors  Financial Management helps Vinaconex to get healthy financial situation and have enough resources for business development / Quản trị tài giúp Vinaconex lành mạnh hóa tình hình tài có đủ nguồn lực phục vụ phát triển sản xuất kinh doanh  3.4.2 In order to achieve the goals set forth by VINACONEX, it is essential to develop a specific business plan, a transparent business administration model and a strong business structure 2012 2013 2014 Busines Implementation s ofCarry strategy divestments in investment the Complete the Focus on major Focus on major as from out reduction project Cam 2015 of projects with projects high high application areas application of of technology, technology, creating products Cement, Lao Cai competitive creating with Hydropower, products Ngoi Pha without with advantage Phat Focus high with distinctiveness in on high real estate and Hydropower major projects, distinctiveness EnhancBoosting creating construction and in real estate installation, Capstone Project Report Gamba01.X0610 - Group 101 debt collection to products with and offering support fundings high quality services for construction high major distinctiveness and installation, Intensively projects / Thực in real estate offering high operates ions in thoái vốn and quality services key areas dự án construction To aswhich Xi măng Cẩm and increaseIncreas construction Phả, Thủy Điện installation e Lào Cai, Thủy Continue onfor the focus estate Điện Ngòi capital areas Phát… Tăng restructureing, spreading are capitalfunds activities and real Avoid Hoạt động chuyên sâu vào cường thu hồi Complete the investments, lĩnh vực cơng nợ để hỗ divestments in focus on real hoạt động xây trợ nguồn vốn the projects estates and lắp bất động cho dự án Focus on real specialization sản lớn Continuing estates and Improve centralization, construction product quality divestments, sector Avoid Continue radically reduce spreading investing to into investment from investments / key areas / sectors without Tiếp tục Tăng vốn cho competitive cấu nguồn lĩnh vực advantage vốn, Hoàn trọng tâm Enhancing the thành xong Tránh đầu tư real estate sector việc thoái vốn giàn trải, tập dự án trung bất động Tăng cường sản , chuyên tập trung vào mơn hóa Nâng lĩnh vực kinh cao chất lượng Capstone Project Report Gamba01.X0610 - Group 102 doanh bất sản phẩm Tiếp động sản tục đầu tư vào xây lắp Tránh đầu tư lĩnh vực giàn trải Revenue Construction:504 Construction:4 Construction:3 Construction:430 structure 5% 5% 50% Real estate: 45 Real 545% estate: Real estate: Real estate: 50% 550% 5060% 5060% Others : 5% Others : 5% Others : 5% Others : 510% Based on the growth of VINACONEX shown over the years: In 2011, the income from the construction sector is accounted for 49% of total income, real estate accounteds for 28.62% of total revenue but profits from real estatethis sector accounted for 77.15% of total gross profit These two areas provided the main revenue source for VINACONEX, and these two areas in parallelgo in line with each other In the following years from 2012, VINACONEX will promotes real estate business activities forbecause the VINACONEX hasowns many large real- estate projects such as the ongoing urban project of Splenldora whichwtih the total area of 264ha, the urban area of Trung Van, Nam Cau Thi Li - Da Nang, Tay Mo, Dai Mo (234ha) Therefore, VINACONEX needs to focus on real- estate sector more than other areas Căn vào tình hình tăng trưởng VINACONEX qua năm thể : Năm 2011, lĩnh vực xây lắp thu nhập chiếm 49% tổng thu nhập, bất động sản chiếm 28.62% tổng doanh thu lợi nhuận thu từ bất động sản chiếm 77.15% tổng lợi nhuận gộp Đây hai lĩnh vực mang lại nguồn thu lợi nhuận cho VINACONEX, đồng thời hai lĩnh vực song hành với Trong năm từ 2012, VINACONEX đẩy mạnh hoạt động kinh doanh bất động sản VINACONEX có nhiều dự án bất động sản lớn khu đô Capstone Project Report Gamba01.X0610 - Group 103 thị Spenldora triển khai tổng 264ha, khu đô thị Trung Văn, Nam Cầu Thị Lý – Tp Đà Nẵng, Tây Mỗ, Đại Mỗ (234ha) nên năm triển khai nên dự án quy mơ lớn Do đó, VINACONEX cần phải trọng tâm đến lĩnh vực bất động sản nhiều lĩnh vực khác CONCLUSION: Capstone Project Report Gamba01.X0610 - Group 104 To develop a strategy, we need to evaluate whether an organization implements appropriate methods and how to implement the current activities more effectively Each organization needsneed to be wise enough in order not to become the prisoner of its own strategy Strategy is not always made of stone The regular review of strategy will help the administrator out of his self- sastisfactionsastisfaction Goals, strategies should be paid more attention and should be developed and linked better to each other, not just bounded in daily decision An organization without clear orientation, strategy will accelerate its failure When an organization does not know where it wants to go, it usually stops at somewhere it does not want at all Each organization should set up and communicatecomminucate clearly its specific objectives and strategies The theory of strategy and strategic management is really a practical model when applied to analyze and find the business strategy for the VINACONEX corporations in the period 2011-2015 The application of the classical models in the strategic management theories such as the PEST model, model of five competitive factors, SWOT Matrix, BCG Matrix, IE Matrix and QSPM matrix can greatly increase the quality of decision to select strategy for VINACONEX but they should not used to control the strategic selection The factors that involve in the process of strategy formulation and selection such as social and political behaviors are always important and should be considered and controlledcontroled Due to increasing legal pressure from outside the Board of Management is responsible for a more active role in analyzing and selecting strategies This is an active trend for the Corporation The successful implementation of the strategy depends on cooperation between all the functional managers and department managers in the organization Marketing Department is generally responsible for the strategy that requires significant increasing in sales volume in new areas and with new products or improved products Financial and accounting managers must propose effective strategy implementation methods with low cost and minimized risk for the company R & D Capstone Project Report Gamba01.X0610 - Group 105 administratorsadministratiors need to copy the complex technologies or develop new technologies to successfully implement the strategy The assignment providesassignment provide an overview of the general strategy of the Hanoi Construction corporationVINACONEX in the period 2011-2015 This general strategy aimed at the company's activities in general from the field of personnel training, technical innovation - technology to improve marketing activities In order to have a specific look at strategy, action plans of each department, each individual there should be more specific assignment in order to analyze characteristics and moves of each unit in the company Those are the new topics presented in the assignment Along with macro assignments in order to develop action plan for specific unitspecific unit, the assignment of “ Developing business strategy for VINACONEX in period 20112015” Propose appropriate strategy, action plans for the Corporation and offer a source of references for other company in the same business Capstone Project Report Gamba01.X0610 - Group 106 REFERRENCES Strategic Management – MBA Grigg StrategicConcept of stratergic management – Fred R David Vietnam Construction and Import-Export Joint Stock Corporation (VINACONEX), Financial reports of the years from 2008 to 2010 Vietnam Construction and Import-Export Joint Stock Corporation, Business report Tam, Le Van; Thanh, Ngo Kim, Strategic management, National UniversityUninversity of Economy Publishing House, Hanoi, 2009 Viet, Nguyen Hoang, Strategic management, Vietnam Commercial UniversityUniversity, 2008 Luan, Pham Vu Commercial Business Administration, Hanoi National UniversityUninversity Publishing House, Hanoi 2001 Doan, Pham Cong - Commercial business economic, Hanoi National Uninversity Publishing House, 1991 Rudolf Gruning (2003), Process-based strategic planning (VietnameseVienamese translation), Science and Technic Publishing House, 2003 10 Fred R.David, Strategic Management: Concept & Case (VietnameseVienamese translation), Statistic Publishing House, 1995 11 Garry D.Smith (1994), Business strategy and policy (VietnameseVienamese translation), , Statistic Publishing House, 1994 12 MichaelMicheal E.Porter, (VietnameseVienamese translation), Competitive Strategy Strategy ScienceScience and Technic Publishing House, 1996 Website: Http:// www.VINACONEX.com.vn Http://www.hud.com.vn Capstone Project Report Gamba01.X0610 - Group 107 LIAST OF TABLE Picture 1.1: PEST Model Picture 2: Competitive pressures pressure Chart 2.1: Growth of VINACONEX during the periodsperios of 2005-2010 Chart 2.2: GDP growth rate according to EIU forecast accourding to EIU forcast Chart 2.3: Structure GDP of Viet Nam Chart 2.4: Growth rate of economy in Viet nam 3.5 Capstone Project Report Gamba01.X0610 - Group 108 ... góp 50% Tổng cơng ty, cơng ty liên doanh, 17 cơng ty liên kết, ngồi góp vốn 19 đơn vị khác Vì vậy, đề tài nhóm chúng tơi tập trung phân tích hoạt động kinh doanh Tổng Công ty cổ phần xuất nhập... Capstone Project Report Gamba01.X0610 - Group 33 Company structures TIỂU BAN CS VÀ CĐ ĐÃI NGỘ ĐẠI HỘI ĐỒNG CỔ ĐƠNG BAN KIỂM SỐT TIỂU BAN TÀI CHÍNH TIỂU BAN ĐẦU TƯ HỘI ĐỒNG QUẢN TRỊ TIỂU BAN NIÊM YẾT... tích hoạt động kinh doanh Tổng Công ty cổ phần xuất nhập xây dựng Vinaconex lĩnh vực hoạt động kinh doanh bất động sản At present, the operation of real estate business meets plenty of difficulties