Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (76)

2 G L O B A L A D V A N C E D M B A P R O G R CAPSTONE PROJECT REPORT BUSINESS STRATEGY FOR URBAN HOUSING DEVELOPMENT OF HAIPHAT INVESTMENT JSC., PERIOD 2021 – 2030 M CL A SS N G R O U P G R O TABLE OF CONTENTS HANOI 2010 TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURES, CHARTS INTRODUCTION CHAPTER I: THEORETICAL BACKGROUND 1.1 Overview on Strategic management 1.1.1 Business Strategy 1.1.1.1 Definitions 1.1.1.2 Types of business strategies 1.1.1.3 Importance of business strategy 1.1.1.4 Requirements for a business strategy 1.1.1.5 Basis for business strategic planning 1.1.2 Business strategic management 1.1.2.1 Definition of Business strategic management 1.1.2.2 Roles of business strategic management 1.1.2.3 Strategic management process 1.2 Affects of environmental factors to business strategic management 5 9 9 11 11 12 13 13 13 14 15 20 of enterprise 1.2.1 External environment 1.2.1.1 External macro-environment 1.2.1.2 Micro environment 1.2.2 Internal environment 1.2.2.1 Human Resources based elements 1.2.2.2 Production and technique operation elements 1.2.2.3 Financial elements 1.2.2.4 Marketing and sales elements 1.3 Business strategy formulation 1.3.1 Generic business strategies 1.3.2 Selecting the optimum strategy 1.4 Business strategy implementation CHAPTER II: ANALYSIS OF THE BUSINESS STRATEGY AT HAI 20 20 23 26 27 27 27 27 28 28 35 37 40 PHAT INVESTMENT JSC 2.1 Overview of Hai Phat Joint Stock Company 2.1.1 Foundation and development G R 40 40 O U P 2.1.2 Ongoing projects 2.1.3 Production process and core products 2.1.4 Human Resources Capacity and Organizational structure 2.2 Analysis of Business Environment 2.2.1 Scale and Structure of market 2.2.2.External Environment analysis 2.2.2.1 Macro environment 2.2.2.2.Business industrial environment 2.2.3.Internal Environment Analysis 2.2.3.1.Financial Resources 2.2.3.2.Production capacity and core products 2.2.3.3.Human resource policy 2.2.3.4.Marketing and PR activities 2.2.3.5.Analysis of Competitive Advantages CHAPTER 3: BUSINESS STRATEGY FORMULATION OF HAI 42 44 44 45 45 49 49 52 56 56 58 58 60 63 66 PHAT INVESTMENT JSC 3.1.Development Orientation of the company 3.1.1.Scale, Structure and trends of market 3.1.2.Summary on SWOT analysis 3.1.3 Vision, mission, strategy orientation and goals 3.1.3.1.Vision 3.1.3.2.Mission 3.1.3.3.Strategy 3.1.3.4.Goals 3.1.3.5 Target Customer 3.2.Building the business strategy of Hai Phat Investment JSC 66 66 70 71 71 71 71 71 71 71 during 2010-2015 3.2.1 Strategy formulation 3.2.2 Selection of the business strategy 3.3.Strategic solutions 3.3.1 Solutions on technology and production 3.3.2 Solutions on human resources 3.3.3 Solutions on finance 71 72 74 74 74 75 3.3.4 Solutions on marketing 3.4 Improving the organizational structure, evaluation and control 75 76 3.4.1 Improving the organizational structure 76 3.4.2 Improving the evaluation and controlling system 76 3.5 Road map for solutions 76 CONCLUSION 79 REFERENCES 80 LIST OF TABLES Table 1.2: SWOT Matrix Table 1.2: GREAT Model Table 2.1: Business outcomes Table 2.2: The professional qualification of the company’s staffs Table 3.3: Opportunities and challenges for the company Table 2.4: Some important financial ratios and business outcomes Table 2.5: Strengths and weaknesses of Hai Phat Company Table 2.6: Competitive Profile Matrix Table 2.7: Evaluation on the core competencies and competitive advantages Table 3.1: Expected supply Table 3.2: Forecast of apartment block projects in Hanoi Table 3.3: Summary on SWOT analysis and strategic orientation of Hai Phat JSC Table 3.4: GREAT Quantitative Matrix Table 3.5: The Implementation Process of Strategic Solutions LIST OF FIGURES Figure 1.1: Five tasks of strategic management Figure 1.2: The three components of the business vision Figure 1.3: Michael Porter's Five Forces Model Figure 1.4: M.Porter’s Generic strategies Figure 3.1: Operation of primary market (All types in 2nd quarter of 2009) INTRODUCTORY Rationale In the market economy, enterprise must operate in a changing business environment : The regulations system is changed and more and more improved, the competition, both inside and outside of the industry, is increasing fierce, and customers are more demanding…For sustainable survival and development, enterpirse must define and select the right business strategy to adapt well to external and internal environmental changes Business strategic planning is a process of anlyzing the external and internal business environemtn, proposing strategies and implementation solutions in order to mobilize all efforts and resources in realizing strategic goals the most effectively as well as coping with unexpected stituation and adapting to changes In recent years, the Vietnam’s market economy grows tremendously With the encouragement policies facilitating the development of all economic sectors, many non-state small and medium enterprises were founded and contributed positively in the national economic growth Hai Phat Investment Joint Stock is a company specializing in real estate investment During the development process, the company has big development steps and gain more and more prestige on the market However, despite the success, the company operation is still subjected to some limitation , it can not take full use of all resources and strengths to go over the industrial competitors The business results are not equivalent to the company’s potential There are many reasons, both subjective and objective, but the key question is that the company did not pay enough attention to business strategy In reality, the company has some business strategies, but they are not built upon a logic process and scientific base Together with the economic development, the competitive pressure increase more and more for enterprises Business environment factors keep changing, which require enterprises to have long-term strategic orientation as well as the adaptability to these changes For long term effective existence and development, enterprise needs a good strategy with a suitable implementation plan, which should be detailed according to defined objectives Therefore, planning and selecting an optimum strategy is essentially important for the enterprises As a moderate people’s enterprise, the Hai Phat Investment Company gradually affirmed its position in the general economic development However, the business strategy of the company is presenting many critical issues to be resolved This encouraged a research on “Business strategy of Hai Phat Investment Joint Stock Company during 2010-2020.”As a leader of the company and a member of this research team, we decided to choose the topic: “Business strategy for urban housing development for Hai Phat Investment in the period of 2011-2020” for the capstone project We hope that, this research will be come an important reference documents for business strategy formulation and implementation of Hai Phat company Research problem - External environmental factors influencing the business strategy formulation - Internal factors influencing the business strategy formulation - Business development orientation to 2020 for Hai Phat Investment Company is based on the link between theory and real situation analysis Research Objectives - Study literature issues on building and implementing business strategy - Apply theoretical issues in planning and implementing business strategy at Hai Phat Investment Joint Stock Company Working out solutions to implement the business strategy of the company during 2010-2020 Research objects and scope - The research focus on business strategy planning of enterprise - Research scope” Business strategy planning of Hai Phat Investment Joint Stock Company to 2020 The research will focus only on the urban housing development acitivites of Hai Phat Research methods - Documentary methods: The documents to be reviewed including publications, survey results, maps, statistics, reports… on the business operation of the enterprise and relating issues - Qualitative methods: interview and consultancy with some leaders, managers of the enterprise as well as outside experts in relating with enterprise for management and business The discussion should be focused on basic issues of strategic management over the past - Statistical method, information and data analysis and synthesis Expected results - Strategic Analysis (Analysis of the macro environment, competitive environment and internal environment) for the Hai Phat Investment Joint Stock Company; - Proposal of business strategy and some fundamental solutions during strategic implementation in order to improve the competitive position, increase the business effectiveness Limitation Despite many efforts of the research team, but the research outcomes are still limited - Information and statistics are not collected sufficiently for the objective and - concrete analysis and evaluation Strategy and suggested solutions are applied with the flexibility on the business features of each company Capstone Report structure Beside the introductory and conclusion, the thesis includes chapters: Chapter I: Theoretical Background Chapter II: Analysis on the business strategy of Hai Phat Investment JSC Chapter III:Building business strategy for Hai Phat Investment JSC., period 2010 – 2020 CHAPTER I THEORETICAL BACKGROUND 1.1 Overview on Strategic management 1.1.1 Business Strategy 1.1.1.1 Definitions Due to different approaches to strategy, its definitions are various Liam Fahey van Rober M.Randall believed that strategy can be understood as the premium approach taken concerning processes, attitudes, human resources, tangible asset, technology and information power, competitiveness, capacity, and resources (Portable MBA in Strategy) In a 1996 Harvard Business Review article and in an earlier book, Porter argues that competitive strategy is "about being different." He adds, "It means deliberately choosing a different set of activities to deliver a unique mix of value." In short, Porter argues that strategy is about competitive position, about differentiating yourself in the eyes of the customer, about adding value through a mix of activities different from those used by competitors In his earlier book, Porter defines competitive strategy as "a combination of the ends (goals) for which the firm is striving and the means (policies) by which it is seeking to get there." Thus, Porter seems to embrace strategy as both plan and position While Henry Mintzberg, in his 1994 book, The Rise and Fall of Strategic Planning, points out that people use "strategy" in several different ways, the most common being these four: Strategy is a plan, a "how," a means of getting from here to there Strategy is a pattern in actions over time; for example, a company that regularly markets very expensive products is using a "high end" strategy Strategy is position; that is, it reflects decisions to offer particular products or services in particular markets Strategy is perspective, that is, vision and direction Mintzberg argues that strategy emerges over time as intentions collide with and accommodate a changing reality Thus, one might start with a perspective and conclude that it calls for a certain position, which is to be achieved by way of a carefully crafted plan, with the eventual outcome and strategy reflected in a pattern evident in decisions and actions over time This pattern in decisions and actions defines what Mintzberg called "realized" or emergent strategy Mintzberg’s typology has support in the earlier writings of others concerned with strategy in the business world, most notably, Kenneth Andrews, a Harvard Business School professor and for many years editor of the Harvard Business Review Strategy can be defined in many ways, including the following useful examples: According to the text book published by the National Economics University (2000), it’s summarized that: strategic management focus on the premium combination among management fields, marketing, finance/accounting, production/operation, R&D of information systems to achieve the business success Historically, the fundamental meaning of strategic management is enabling organization to formulate better strategies by more professional and reasonable application and better approached concerning strategic selection In other words, Strategy is the pattern of activities to be followed by an organization in pursuit of its long-term purpose’, includes its ‘placing’ within the movement In simple terms: ‘Where we are now, where we want to go and how we intend to get there’.’ Strategy is an agreed-upon course of action and direction that helps manage the relationship between an organization and its environment The goal is to achieve alignment or synergy so that an optimal flow of resources to the institution is achieved Strategy can also be defined as the process of identifying, protecting, leveraging and renewing the strategic capabilities of an organization through its definition of purpose its organization and processes, and its choice and support of people So, what most concerned strategy can be: - An understanding/assessment of the organization’s resources and capabilities - An understanding/assessment of the external environment - From these, a decision on the best way to use and apply the former to achieve an agreed aim in the latter 10 Domestic investors were and now are successful at selling many projects in recent quarters despite the market down turn happening in late 2008 and early 2009 Despite many foreign investors gave up big commercial and housing projects, development project of joint venture are still maintained in the crisis period, which is expected to dominate the majority of projects on sales in next quarters Groups with big projects are now pushing the work progress in a hope that they can catch up with the current positive market situation The accumulative market is now obviously coming back with many projects of domestic investors, which are sold with big number of several exchanges for the investors Capital venture is becoming popular with many projects sold out via this mode The signs are recognized similar with 2007 although many investors tend to use the flat which is initially planned for accumulation The last key question is that when tens thousands of flats are transferred, who will be living there This question can not be addressed in the booming period of 2006-2007 This period might be different, but CBRE still forecast that at least some parts of the low quality projects will have difficulty in finding the customers Ha Noi is always a small and highly competitive market with many options, which will unhide the differentiations between good and bad project Late 2009 and early 2010, it might be the time when the market self adjust Many investors believe that the land price will increase sharply at the end of the year at hot areas such as Ha Dong and western region This strong expectation can overcome the interest fluctuation at the end of the year, income tax law for income from real estate sales, or the shortage of information and transparency The first strong growth will be met due to the big supply and messy market, but then the supply volume will dilute the investment market in general and stabilize the average value The price of separate project will change when there’s more transparent information on: which infrastructure will be completed, where the people community will develop, and the most important is that which investor can guarantee the proposed quality of the project 68 The actual demand will be tested in late 2010-2011 Around 9000 flats will be on sales in 2009 and 14000 flat will follow in 2010 When these flats are transferred, the market will receive a huge housing supply Despite the recent recovery of the market in 2009, it’s hard to estimate how many of those flats are really used Table 3.2: Forecast of apartment block projects in Hanoi CLASS DISTRICT INVESTOR NUMBER OF FLATS Luxurious Cau Giay Indochina Land Holdings 390 High class Cau Giay Vinaconex 285 High class Cau Giay HUD 536 High class Cau Giay Richland Property 176 Silk city High class Ha Dong Song Da Thang Long 3300 Victoria High Class Ha Dong Van Phu Invest 1500 The Pride High class Ha Dong Hai Phat 1600 New Skyline Ciputra High class High class Ha Dong Tay Ho 380 300 Habico High class Tu Liem HUD Ciputra Hanoi Hai BinhDongriwon JV Construction started Construction ongoing Construction started Construction ongoing Building base Building base 500 Building base Ba Đinh Coenco 204 Building base Hai Ba Trung COMA 502 Building base Hoai Duc Posco 496 Scraping Tu Liem TID JSC 385 Building base Tu Liem Ninh Bac Financial Investment JSC 300 Scraping PROJECT Indochina Plaza Hanoi 289A Khuat Duy Tien N04 Southern East of Tran Duy Hung Richland Southern C1 Thanh Cong Skylight Spendora Dolphin Plaza FLC Landmark Tower Medium class Medium class Medium class Medium class Medium class ( Source: CB Richard Ellis Vietnam and Hai Phat’s Sales Department) 69 STATUS Construction started Construction ongoing Construction ongoing Figure 3.1: Operation of primary market (All types in 2nd quarter of 2009) On the urban scope of Hanoi interior, according to the survey by Savills, from 3rd quarter of 2009 to 2012, there will be at least 10.455 flats distributed in the Hanoi market (old) Despite the short term difficult situation of the domestic economy, but the Hanoi’s demand for real estate, mainly houses, are still existing The postponement 70 or cancellation of the projects can happen after that and the supply forecast should be reconsidered The majority of the future flat supply in Hanoi is expectedly medium class in the suburbs and new urban areas The primary and secondary price of good quality project in the city center might increase, mainly for the supply shortage in these areas In the high class segment, the supply is mainly medium term, and not plural, especially in project with good locations in old districts and provinces 3.1.2 Summary on SWOT analysis From above analysis, we can make a summary on SWOT analysis to lay a ground for proposing a strategy for the company in the future On the basis of market and business environment analysis, Hai Phat Company confirmed its development orientation in the future Table 3.3: Summary on SWOT analysis and strategic orientation SO Strategy (1): Using the financial and network strengths to expand the operation scale, cost leadership strategy (2): Using the high quality staffs and experience management team to diversify the business operation Product differentiation strategy O – Opportunity: O1: The economy overcome the crisis; continue the development with high growth rate O2: Subsidy policies and stimulus package from the government O3: Clear and transparent legal system and the policies facilitating enterprises’ investment O4: Demand for houses increase sharply WO Strategy (3): Improving the marketing and branding activities: Brand differentiation strategy S – Strengths S1: Real production and supply capacity S2: Professional and experienced staffs S3: Strong financial Resources S4: Experience leaders and managers S5: Customer relationship O W – Weaknesses W1: Weak brand W2: Low professionalism of sales activities W3: Market research is neglected W5 Weak corporate culture S W T 71 ST Strategy (4): Using the financial resource and experience management team to improve the market share of the company Cost leadership focus strategy T- Threats T1: More and more competition T2: Pressure of increasing input prices T3 Investment in the industry by big groups and foreign companies T4 Tightened credit policy and high interest rate WT Strategy (4): Concentrate resources on improving the marketing activities: market research, sales… : Differentiation focus strategy 3.1.3 Vision, mission, strategy orientation and goals 3.1.3.1 Vision Hai Phat investment JSC thrives to become one among the top 20 real estate investment company in Vietnam for next 10 years 3.1.3.2 Mission Supply the urban houses to people with average and high income in Hanoi and some key areas in Vietnam such as Hochiminh City, Da Nang, Bac Ninh 3.1.3.3 Strategy Concentrating all resources on financial accumulation in the first 10 years since its foundation, at the same time, gradually improving the organizational structure, heading for core human resource investment of next 10 years, developing the housing fund 3.1.3.4 Goals - Growth of 30%/year during 2010 - 2020 - Annual profit of about 200 billions VND - Salary of staffs increase by 10% - 20%/year 3.1.3.5 Target Customers On the basis of business environment analysis, competitive analysis and internal environment analysis as well as the strategy orientation, Hai Phat company selected priority “product/market” which is housing products for above average income customer (flats or villages) This is considered the most attractive market segment due to its potential market growth and limited supply 72 3.2 Building the business strategy of Hai Phat Investment JSC during 20102015 3.2.1 Strategy formulation Via SWOT matrix analysis, it formulates the strategy groups including: to exploit the strength, make use of the opportunities (S-O), overcome difficulties to make use of opportunity (W-O), promote the strength to limit the threats (S-T), overcome weaknesses to avoid the threats (W-T) Here below are generic strategies should be considered for the company: Strategy 1: Cost leadership strategy (Competition with price) Strategy 2: Differentiation strategy on product quality Strategy 3: Differentiation strategy on brand and reputation Strategy 4: Cost focus Strategy Strategy 5: Differentiation focus strategy In above strategies, strategy and are differentiation strategy and it can be combined because in reality, the brand can be ensure by the product quality In the mean time, strategy and strategy are focus strategies Because the company need to promote the strengths (financial resources) and overcome the weaknesses (marketing activities), we can combine them in to a general focus strategy So, the company only needs to focus on choosing optimum strategies among the proposed strategies: Strategy 1: Cost leadership strategy (price competition) Strategy 2: Differentiation strategy basing on the product quality and brand (non price competition) Strategy 3: Focus strategy 3.2.2 Selection of the business strategy With the GREAT model, we can select the optimum business strategy with the analysis and evaluation of weight on criteria at following steps: Step 1: Grading each option with 1-5 scale, with criteria: - G: The more gains, the higher grade (obtained the target) - R: The more risk, the lower grade - E: The more expenses, the lower grade - A: The more achievability, the higher grade - T: The more reasonable timing, the higher grade = Excellent; = Good; = Average; = weak; = poor 73 Step 2: Anticipate the impacts of those criteria on the general strategy; use the weight of impacts to show the importance and its degree of influence on strategic factors (weight in the range of 0-1, with the total of weights is 1) Criteria 1: Gain 0, 30 Criteria 2: Risk 0, 15 Criteria 3: Expense 0, 20 Criteria 4: Achievable 0, 25 Criteria 5: Time 0, 10 Calculate the grades into equivalence by multiply column with the responsive weight, then we come up with the total grade for each strategy in the final row Finally, we highlight 1-3 strategies with highest grades, which are strategies to be focused on Table 3.4: GREAT Quantitative Matrix Criteria Weight Strategy Strategy Strategy Rating 3 4 Score Rating Score Rating Score 1- Gain 0,30 0.90 1.50 0.60 2-Risk 0,15 0.45 0.30 0.45 3-Expenses 0,20 0.80 0.40 0.60 4-Achievability 0,25 0.75 1.00 1.00 5-Time 0,10 0.40 0.30 0.40 Total 1,00 3.30 3.50 3.05 With the above statistics, we can see that the focus strategy (strategy 3) have the lowest grade The differentiation strategy based on product quality and brand has the highest grade So, in order to achieve the target of becoming one among top 20 in the years to come, Hai Phat investment JSC need to create a good reputation on the basis of highly appreciated product quality The differentiation strategy is proved to be the optimum The strategy is highly recommended because this strategy is focusing on improving the business capacity by maintaining the quality policy, considering the product differentiation and quality as well as market reputation as the back ground for the sustainable development 3.3 Strategic solutions 74 Strategic solutions for strengthening factors of competitive advantages: * Effectiveness: apply at the same time all solution to increase the revenue and save the cost for the company * Quality: high quality product can satisfy the customers’ demand and increase the reputation of the company The higher quality, the less rate of loss during production process, which will help to save cost and time for the fault products * Innovation: Including the modernization of equipment and facility, production line, management system, organizational structure and functional strategies to ensure the common goals * Customer satisfaction: The company supplies the right goods for the right demand at the right time as expected by the customers 3.3.1 Solutions on technology and production Comprehensive investment on modern tools, facilities of construction in order to enhance the company’s position in bidding for high class projects 3.3.2 Solutions on human resources Strategic planning for human resource management to upgrade the qualification and management skill of the management body and technical level, skills of the whole staff for the strategic objectives of the company - Standardize the management team and recruit new managers Targets for 2015: + 100% of management staffs with university degree + 30% of direct production staffs with technical college degree and above + Over 40% of direct production staffs with professional training of levels and above - Improving the management mechanism and using effectively the existing human resource of the company Strengthening the authorities system, promote the individual responsibility and attaching remuneration, bonus, promotion opportunities with the individual performance - Establishing the outside and inside training plan for staffs Organizing short training course, regular updating of professional skills for the 75 - Allocating reasonable financial resources for human resource development, planning the annual training budget 3.3.3 Solutions on finance - Building the suitable financial management system for effective management of all resources in different strategic stages Some key actions should be done to improve the effectiveness of capital usage including: + At the moment, the assets which are inventories and goods always account for over 30% of total asset This is a big financial pressure, which cause the product price increase Therefore, it’s necessary to focus on scientific management methods to maintain a reasonable stock, which help to minimize the inventories while ensuring the inputs for production and business + Close control on debts of customers, minimize the over due date outstanding This will not only help to increase the capital usage effectiveness, but also minimize the risks + There’s a priority financial policy for marketing activities - Improving the financial and economic management system at production units and teams, applying the assigning policy which enhance the individual and collective responsibility, increase the productivity, diminishing the cost of middle management, reducing the product price 3.3.4 Solutions on marketing - Investing in broader and deeper market survey at following forms: + Survey on customer information (who used and not use the company’s products) with survey form - Advertising for products on public media 3.4 Improving the organizational structure, evaluation and control 3.4.1 Improving the organizational structure On the basic of strategy on organization, restructure the company in model of mother-son Company, including Hai Phat Company – Mother Company (diversified business) The son company is organized into 02 different specializations with technology investment, including 02 companies: Hai Phat Mechanism Company 76 and Hai Phat Construction JSC are 02 companies specializing in project constructions, especially investing in construction technology for high buildings An Thinh Invest JSC: In addition to project investment like the mother company, An Thinh JSC also imports the construction equipment and machineries for projectimplementation - Building the construction materials production plants: bricks, wooden furniture’s - Strengthening the business strategy and product management of the Hai Phat real estate company The restructure of the company model and the rearrangement of management system and production organization are not only for the general development orientation of the company They also lay a premise to implement the business strategy planned for each individual business of the company 3.4.2 Improving the evaluation and controlling system The controlling system supervise from the management team to every construction units and production groups in the furniture plants in order to obtain good and reliable statistics for evaluation All the controlling criteria should change its pure financial feature The content of these criteria are not belonging to the financial factors and should be anticipated more comprehensively the company’s operation Besides, the evaluation system also evaluates directly project units, functioning departments of the company, clarifying every jobs and the person in charge 3.5 Road map for solutions The road map can be demonstrated as followed synthesis table: Table 3.5: The Implementation Process of Strategic Solutions No Solution 2010 2011 Completing the organizational structure Comprehensive 77 2012 2013 2014 2015 investment on production equipments and technology Investment in raw material production lines Enhance the financial capability Marketing solutions Strengthening the qualification and production management skills, using effectively resources Standardizing and training the human resources Applying the ISO quality management process Improving the controlling and evaluation system In order to ensure the effectiveness of supervision and controlling system as well as evaluate effectively the solutions, there should be a road map as followed: - From 2010 to 20011 completing the company’s organizational structure, building the long term and detailed business plan up to 2015 for each son companies in construction, real estate business and raw materials production Completing the controlling and evaluation system - From 2011 to 2013 Building the marketing plan and promote the program of building and advertising the company brand all over the country - From 2013 to 2015 invest in electric equipment production lines and equipment and construction - Implement the plan of labor standardization and human resource training from 2010 78 - From 2011 to 2015 investing in upgrading and improving the information system with the assistance of informatics Improving the controlling and evaluation system 79 CONCLUSION Building a business strategy play an important role in orienting the future development of Hai Phat investment JSC The right business strategy will bring into play all resources and make the company highly adaptive to the external changes Business strategy serves as a lodestar for the production and business activities at the company in its development process However, it’s not easy to research and map out a good business plan and carry it out successfully With our knowledge on business administration gained from the Master in Business Administration of Griggs University – USA, our group tried to apply theories in to study and analysis of the strategic planning and implementation at Hai Phat Investment JSC, where one of our group members are Chairman cum CEO On the basis of literature review on business strategic planning and their application in the true case of Hai Phat investment JSC, our group defined and selected the optimum business strategy for Hai Phat Investment JSC during 2010 – 2015 These solution groups should be implemented comprehensively in order to attach the company’s functions to its strengths to perform the strategy During the strategy implementation, the company should conduct evaluation on the achievement of each stage honestly and subjectively so that they can make timely adjustments for better production and business performance Due to limited time and experience, this report will surely bare some constraints and drawbacks The reality is various and changing, which require continuous in-depth study for better strategic planning and implementation of enterprises in general and Hai phat investment JSC in particular To finish this works, we have received great supports from professors at the Master in Business Administration of Griggs University – USA in coordination with the ETC of National University Thank you all! 80 REFERENCES Le The Gioi, Nguyen Thanh Liem and Tran Huu Hai, “Strategic Management”, Statistical Publishing House, 2009 "Production and Business Strategic Planning” – Dr Nguyen Van Nghien – Hanoi Politechniques University, 2002 Liam Fahay & Robert M.Randall , “Portable MBA – Strategic Management”, 2009 Fred R David, Principal of Strategic Management, HCMC Statistical Publishing House, 2003 GS.John A.Quelch, “Modern Marketing:Global Experience”, Harvard Business School Global Advance Textbook of Griggs University Dr Vu Thanh Hung (Chief Editor), Dr Nguyen Van Thang: “ Strategic Management” Hanoi Education Publishing Hourse, 2005 Institute of management research and training: “Building and Implementing business strategy”, Social and labor publishing house, 2007 News on Vietnam’s economy and society on Internet 10 Financial Statement of Hai Phat Investment Joint Stock Company 11 « Strategic Management: Concepts and Cases: Competitiveness and Globalization »’ Micheal Hitt and all, 2010 ; 12 « Essentials of Strategic Management », D.Hunge T.Weleen, 2006 ; 13 « Grands Strategies » , C.Hill, 2008 14 Competitive Strategy: Techniques for Analyzing industries and Comprtitors , Micheal E.Porter, Free Press, 1998 15 Competitive Avatage: Creating and Sustaining Superior Performance, Micheal E.Porter, Free Press, 1998 16 The Five Copetitive Forces That Chape Strategy, Micheal E.Porter, HBR, 2006 17 Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant , W Chan Kim and W Chan Kim (Author) › Visit Amazon's 81 W Chan Kim PageFind all the books, read about the author, and more.See search results for this author 18 Are you an author? Learn about Author Central 19 Renée Mauborgne, 2005 20 Business Tactic and Strategy, D Smith and all, Social and Technic publishing house, 2008 82 ... tangible asset, technology and information power, competitiveness, capacity, and resources (Portable MBA in Strategy) In a 1996 Harvard Business Review article and in an earlier book, Porter argues... of of experience experience experience 0 0 25 11 10 I 1 II Above University Doctor in Econmics MBA Master in Corporate Finance University Construction Engineer, 46 Architecture, transportation