Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (65)

CAPSTONE PROJECT REPORT DETERMINING BUSINESS STRATEGIES FOR KINH DO JOINT STOCK COMPANY FOR THE PERIOD 2020 - 2025 GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT CAPSTONE PROJECT REPORT DETERMINING BUSINESS STRATEGY FOR KINH DO JOINT STOCK COMPANY FOR THE PERIOD 2010-2015 DETERMINING BUSINESS STRATEGIES FOR KINH DO JOINT STOCK COMPANY FOR THE PERIOD 2010 - 2015 GROUP No 2: Trần Huy Tùng Trần Văn Tra Trần Xuân Trường Group No.2: Tran Huy Tung - Leader Tran Xuan Truong Tran Van Tra Pham Hong Thai Phạm Hồng Thái HANOI, 2009 HA NOI 2009 TABLE OF CONTENTS COMMITMENT ACKNOWLEDGEMENT INTRODUCTION 10 The necessity of the research topic .10 Problems in the research .10 Research objectives 11 Scope of research 11 Research methodology .11 Report structure .11 CHAPTER .12 THEORY BASIS FOR ESTABLISHING BUSINESS STRATEGIES IN 12 ENTERPRISES 12 1.1 Basic concepts 12 1.1.1 Concepts regarding strategy 12 1.1.2 Strategic management 13 1.1.3 Strategy levels: 14 1.2 1.2.1 Models for establishing strategies 14 Environment analysis models 15 1.2.1.1 PEST model- macroenvironment analysis model .15 1.2.1.2 Five competitive forces model of Michael Porter- Industrial environment analysis model 16 1.2.2 Internal analysis models: 18 1.2.2.1 Value chain model of Michael Porter – internal assessment model .18 1.2.2.2 7S model of Mc Kinsey- organizational structure analysis model: .22 1.2.2.3 Valuable resources, core competencies and competitive advantages: 23 1.2.3 Combined analysis model- SWOT analysis: 25 1.3 Competitive strategies: 26 1.3.1 General competitive strategies: .26 1.3.1.1 Product differentiation strategy: .27 1.3.1.2 Cost lowering strategy: .29 1.3.1.3 Niche market strategy: 31 1.3.2 Flexible and responsive strategy: 32 1.3.3 Customer value and benefit creation strategy: .33 CHAPTER .35 INTRODUCTION OF KINH DO JOINT STOCK COMPANY AND 35 ITS BUSINESS ENVIRONMENT ANALYSIS, INTERNAL ANALYSIS 35 2.1 General introduction to Kinh Do joint stock company: 35 2.1.2 Formation and development: 35 2.1.3 Operational results 37 2.1.3.1 Main product categories of Kinh Do corporation: 37 2.1.3.2 Summary of some achieved targets of Kinh Do in 2007 and 2008 40 2.2 Business environment analysis 41 2.2.1 Microenvironments analysis based on PEST model 41 2.2.1.1 Political factors: 41 2.2.1.2 Economic factors .42 2.2.1.3 Social factors: .42 2.2.1.4 Technological factors: .43 2.2.2 Competitive environment analysis: 45 2.2.2.1 Five competitive forces analysis: 45 2.2.2.2 Life cycle of the industry 51 2.3 Internal analysis based on the value chain: 52 2.3.1 Direct operations: 52 2.3.2 Supporting operations: 58 2.4 Internal analysis 7S model: 63 2.4.1 Organizational structure: .63 2.4.2 Manners: 65 2.4.3 System: .66 2.4 4: General value: 66 2.4.5 Officers: 66 2.4.6 Strategies: 68 2.5 Core competencies and competitive advantage of company: 69 2.5.1 Core competencies: 69 2.5.2 Competitive advantages: 70 2.6 SWOT Analysis 71 2.6.1 Strengths: 71 2.6.2 Weaknesses: .73 2.6.3 Opportunities: 73 2.6.4 Threats: 74 2.6.5 Kinh Do position in the market: .74 CHAPTER .76 DETERMINING BUSINESS STRATEGIES FOR KINH DO JOINT STOCK COMPANY FOR THE PERIOD 2010-2015 76 3.1 Development orientation for foodstuff processing industry in Vietnam 76 3.2 Strategic vision and mission: 77 3.2.1: Strategic vision: .77 3.2.2: Strategic mission: 78 3.3 Determining business strategies for Kinh Do JSC in 2010-2015 .78 3.3.1: Current business strategy of Kinh Do 78 3.3.2: Main strategies for Kinh Do 78 3.2.2.1 Product differentiation strategy: 78 3.3.2.2 Upward vertical integration strategy 80 3.3.2.3 Backward vertical integration strategy: .80 3.3.2.4 Horizontal integration strategy 81 3.3.2.5 Concentration strategy .81 3.3.2.6 Market penetration strategy: 81 3.3.2.7 Market development strategy .81 3.3.2.8 Related diversification strategy: 82 3.3 Selection of strategies: 82 3.4 Some proposed solutions to implement development strategies of Kinh Do to 2015 83 3.4.1 Marketing solution: 83 3.4.2 Solution of finance: 84 3.4.3 Solution of human resource: 85 3.4.4 Solution of production and technology 85 3.5 Some proposals to administrative authorities: 86 3.5.1 For the state authorities: 86 3.5.2 For the industry: 87 CONCLUSION 87 REFERENCES 89 APPENDIX .91 LIST OF FIGURES, GRAPHS Exhibit 1.1 PEST model 15 Exhibit 1.2: Five forces model of Michael Porter 17 Exhibit 1.3: 7S model of McKinsey 22 Exhibit 1.4: Source of competitive advantages 24 Exhibit 2.1 Logo of Kinh Do Joint Stock Company 36 LIST OF TABLES Table 1.1: SWOT analysis: 25 Table 2.2: Targets of Kinh Do in 2007, 2008 40 Table 2.3: Summary of microenvironments analysis: 44 Table 2.4: The main competitors of Kinh Do .47 Table 2.5: Analyzing five competitive forces: .50 Table 2.6:Revenues of companies in the food processing industry .51 Table 2.7:Profits of Kinh Do Company and Bibica Company .51 Table 2.8: Internal analysis based on the value chain 62 Table 2.9: Labor structure in accordance with criteria in 2008 67 Table 2.10:Internal analysis based on 7S model: 68 Table 2.11: Products comparison against competitors’ products 69 Table 2.12: Revenue, profit and shareholders’ equity target .72 Table 2.13: Summary of WSOT analysis results: 75 Table 3.1: Revenues from confectionery of Kinh Do JSC in 10 recent years: 77 COMMITMENT We assure that the content of this report has never been submitted to any program of training master of business administration as well as any other training program We are also committed that this report is resulted from our own effort All results, analysis or conclusion (except quotation) are our own working results ACKNOWLEDGEMENT The report “Perfecting business strategy for Kinh Do joint stock company for the period 2010-2015” has been completed under the guidance of Dr Vu Tri Dung – Lecturer at Hanoi National University We would like to express our sincere gratitude toward Dr Vu Tri Dung for his dedicated guidance and direct assistance to help us complete this report We are also grateful to other professors in Program of Training Masters of Business Administration of Griggs University for their enthusiastic teaching throughout the course to equip us with the necessary knowledge in business administration so that we can finish this report INTRODUCTION The necessity of the research topic Vietnam has successfully joined the World Trade Organization (WTO) and the business environment has undertaken many significant changes If relying solely on past advantages and experiences, sooner or later, domestic enterprises will not be able to stand firm and continue to progress in the current trend of regional and international integration Confronting with current challenges and increasingly fierce competition, to survive and develop further, each business needs to find their own appropriate path to go, to establish a development strategy accordance with external environmental conditions as well as internal factors of the company, in which business strategy is one component parts and represents one of the most important basis for building corporate strategy in order to constantly improve the position of the company in the market Along with the growth of the national economy, Kinh Do has achieved great accomplishments and contributed to upgrade the food and foodstuff processing industry of Vietnam to a higher level With a hope of giving contribution to find the right direction to maintain the position of Kinh Do Corporation in the future as well as to assist Kinh Do in positioning itself as a strong brand in the mind of customer to become one of the leading brand in Vietnam, and simultaneously applying what we have learned from the Program of Training Masters of Business Administration, we have selected the topic for our report as “ Determining business strategy for Kinh Do joint stock Company for the period 2010-2015” Problems in the research -Factors in the international environment that have effects on the process of establishing business strategy -Factors inside the company that have effects on the process of establishing business strategy 10 Since 2002, Kinh Do has brought more than 100 groups of new products to the market, mostly nutrient food, function food, satisfying the appetite and nutrition demand of consumers Including: Nutrition group supplementing ADH, nutrition group supplementing Canxium, nutrition group supplementing fibrous matter, nutrition group supplementing vitamin D, B, etc  Prompt supply: With the distribution system in all market regions, around 200 distributors and more than 65,000 retails outlets through out the country, Kinh Do has the largest agent system and serve all customers Success of company is the result of satisfying maximum customers’ demand, that is bringing out value and benefit for customers It’s due to the good implementation of following strategies:  Strategy of leading products: As analyzed in above parts, company always pays much attention to product quality All the products supplied to the customers are guaranteed to have high quality, nice models and be certified by consumers and competitors This is illustrated clearly by awards, medals, honor that these products are awarded 3.3.2.2 Upward vertical integration strategy - This is the strategy controlling and supervising the distributors Now, Kinh Do can completely control domestic distributors because of well-known trade name “Kinh Do”, high quality, big finance Otherwise, now Kinh Do can’t control foreign contributors because trade name Kinh Do isn’t well-known abroad - Therefore, for domestic distributors, Kinh Do continues maintaining and expanding distribution system to extending domestic market share On the other hand, this strategy enhances advertisement for Kinh Do because of posters in these shops For foreign distributors, Kinh Do needs to advertise trade name abroad, heighten product value, create relation, seek more new distributors to increase prestige of Kinh Do on international market 81 3.3.2.3 Backward vertical integration strategy: - Coordination backwards is a strategy that controls and supervises suppliers, Kinh Do needs too establish close relationship with these to have stable and supplying resource with competitive price by signing long-term contract with them, finance support, etc - However, to implement this strategy, Kinh Do needs big finance, great receipts stable growth, etc 3.3.2.4 Horizontal integration strategy - Kinh Do can buy, join other enterprises in the industry This helps Kinh Do decrease initial investment expense, focus only on consolidating, developing according to strategies of Kinh Do - On the other hand, joining creates bigger production capacity, capacity of satisfying more types of products, modifying resources, cutting edge of each enterprise, then it’s easier to approach, research market more effectively Especially, coordinating with foreign companies helps Kinh Do learn management skill, how to heighten product quality, share technology, market with partners, etc 3.3.2.5 Concentration strategy - Developing products is the strategy of increasing receipts by improving or mending present products to raise consumption on present market - Kinh Do needs enhancing RD in expense, human resource and equipment to create products with higher quality Company can apply for support from domestic and foreign institutes, universities 3.3.2.6 Market penetration strategy: - Emphasize advertisement, promotion, consumption instructions, etc to raise present market share - Kinh Do should ask professional marketing companies to consult and support marketing activities 3.3.2.7 Market development strategy 82 - For domestic market: Improve distribution system, attempting to distribute goods to remote areas, where people still use bad-quality candy, even false and imitative goods of small plants Enhance the use instruction through reports, selfintroducing films, coordinating with local preventive medical centers, etc – For foreign markets, enhance trade promoting activities, find foreign trading partners, participate in exhibition fairs, sending officers abroad to investigate market and find foreign partners, coordinate closely with Vietnamese commercial counselors in many countries 3.3.2.8 Related diversification strategy: - Vietnam has got plentiful material resource of cashew, corn, peanut, etc and market needs these so much Moreover, these commodities has got same distribution characters like candy, and produced by machines in confectionery - Now, most of these products are produced by small enterprises, poor quality, Kinh Do needs focus on researching technology, production process to occupy the market in order to diversify products, raise receipts 3.3 Selection of strategies: From the main and realizable built above, by analysis, we can choose following strategies for Kinh Do JSC up to 2015 as followed: - In period 2010-2012, most suitable strategies are: Product differentiation strategy, strategy of penetrating market, strategy of developing products Because, now Kinh Do is still a young production and business enterprise with not much experience, not high-quality, instable market, etc therefore It’s really necessary to implementing above strategies in 2010-2012 in order to enhance potential and competitive ability on market gradually - In period 2012-2015, the most suitable strategies are: product differentiation strategy, strategy of integrating backwards, strategy of integrating forwards, strategy of developing in width Because at this period, Kinh Do is strong enough in finance, management experience, trade name prestige to attract, control suppliers, distributors in the way Kinh Do can get advantages On the other hand, with the 83 trend of integrating world trade now Kinh Do will extend to foreign market, gradually exploit local and world markets, this is a very suitable strategy to help Kinh Do be successful in coming periods 3.4 Some proposed solutions to implement development strategies of Kinh Do to 2015 Based on analysis results of activities, working environment and planned development strategies in 2015 of Kinh Do JSC, we propose bravely some solutions to contribute to implementing chosen solutions 3.4.1 Marketing solution: + Building marketing strategies for each product line: - Building effectively marketing strategies for each product line, label, avoiding so many names for confectionery of similar component, flavour, make consumers confused with so many confectionery names, then they cannot remember and have any impression on a particular label - Kinh Do trade name is very famous and known by Vietnam consumers through a few product line (as moon cake, fresh breads, AFC), whereas most of Kinh Do product lines cannot be remembered or recognized by consumers, this makes low receipts growth + Solution of cutting down fee to exploit rural market: - Population in rural areas makes up nearly 70% of nation’s population, however, rural market hasn’t almost been exploited Therefore, if Kinh Do wants to extend market share, the company should pay more attention to rural market through medium price product lines to serve customer group having low and medium income - With strategy of medium price plan, to ensure profits, company needs have methods of reducing production fee but keeping same quality as: improve workers’ knowledge to reduce rate of loss, seeking input material suppliers with competitive price, check to reject disvalued steps, etc 84 Besides, Kinh Do should care for medium and high-class markets because of higher living standards of Vietnamese Because this market part will bring lots of benefits such as: raising receipts and profits, enhancing trade name value Kinh Do needs study and research to give suitable price to compete with competitors and also ensure high profits When penetrating different export markets, Kinh Do needs have flexible price, suitable with each market For example America, Japan, EU, Kinh Do can apply high price strategy, on other markets, Kinh Do can fix medium price, the price can be a little different, depending on markets - Solution of price both ensures profits for company and helps penetrating market strategy be implemented more effectively + Solution of distribution: - Open branches on important markets to distribute products, this reduces bad pressure for distributors, and helps company approach market information quickly – Plan to participate in domestic and foreign exhibitions, fairs, to seek more distributors and advertise trade name - Enhance investment in online sales, this is a popular distribution method in the world due to economy in time and expense - Make long-term contracts with suppliers, big and prestigious trade partners and have supporting policies as: issuing credit cards, bonus, etc to restrict the case of losing distributors because in this harsh competition, it is easy that distributors find another supplier 3.4.2 Solution of finance: - Finance potential of Kinh is rather big, Kinh do’s finance indexes are always rather high, this is highly appreciated by investors Kinh Do should make use of this to mobilize other financial resources through new projects with high realization However, Kinh should consider to mobilize reasonably, avoid depending on others so much - Payment term of Kinh Do is highly appreciated compared to other enterprises in the industry, on one hand, it “attracts” suppliers, but on the other 85 hand, it generates unreasonable fee that Kinh Do has to maintain a big mobile amount Therefore Kinh Do needs consider payment term for each supplier group to reduce expense of bank interests - Hand over authority of paying for each division, firstly purchasing division, have reward policy if they use lesser expense than planned This excites suppliers to have competitive price, then company can reduce product price - For main distributors, company needs have credit supporting policies as: let them get reasonable discount according to their payment term, on the contrary, if distributors have financial difficulties, company should extend the payment term, etc 3.4.3 Solution of human resource: - Improve special knowledge of human resource because present rate of workers having good knowledge is low Company can send workers to be trained or select new workers It should be preferential for company to select workers of good knowledge for divisions of RD, human resource, marketing, export- import trade - Company needs have suitable salary policy to maintain good officers of company and attracts external good people Only by this can company have enough human resource for development - Company should pay depending on workers’ working effect, award for overfulfill norms, esp for business, marketing divisions to encourage maximum effort 3.4.4 Solution of production and technology + Solution of materials: - Seek suppliers and negotiate price and corning articles to ensure high quality and stable input materials with competitive and stable price, stable supply amount, quick delivery time to reduce storage fee Kinh Do needs sign long-term regulation contracts, then suppliers keep their mind on production and import goods Only by that can Kinh Do reduce price and heighten competitive ability on trade market 86 - Create financial support for main suppliers to build strategic relationship and ensure stable input materials, competitive price - Hand over authority in paying for input materials on purchasing division to make this active, have concrete award and blame regulations to motivate this raise working effect + Production solution: - Have reasonable production plan to exploit machine capacity, quickly depreciate value of machines, equipment, in order to invest in machines with more modern technology in the world - Take notice of reducing production price by limiting to minimum the loss rate, rejecting redundant and unvalued steps - Encourage engineers, officers to study solution of raising capacity, replace foreign machines, equipment to economize on fee + Technology solution: - Invest more in human resource, finance for RD division, have suitable award policy according to business effect of products that studied and made by them to encourage them create better products, create new competitive advantages for company – Encourage officers to participate in domestic and foreign technology exhibitions, fairs to seek more modern technology machines from developed countries to produce new product lines, satisfy higher demand of consumers + Quality management solution: Apply quality management systems: Certificate of environmental management ISO 14000 - Hazard Analysis and Critical Control Points (HACCP) or food safety management system ISO 22000:2005 - Apply developed management tools: 5S, Kaizen, Statistical Process Control, Failure Mode and effect Analysis, etc 3.5 Some proposals to administrative authorities: 3.5.1 For the state authorities: 87 - The state should organize more food exhibitions, fairs inland and overseas, then food enterprises can approach domestic and esp export market more easily - The state needs have methods to oppose imitative and false goods and taxes evasion forms The state should have support policy to have foreign exchange stability, like other branches to help these enterprises keep their mind on their work - The state should reduce the difference of city and rural living standards, heighten living standards for rural people Whenever living standards are improved , this 75% of population will make large and stable market, ensure firm development for food industry 3.5.2 For the industry: Organize an association of confectionery to help one another develop, compete with competitors in the region and the world This association organizes meeting, conference yearly, then enterprises in the industry give ideas, enhance coordination and implement common development strategies 88 CONCLUSION In the harsh competitive environment nowadays, determining business strategies is very pressing and necessary for every enterprise to exist and develop Wishing that company develops, grows up in strength more and more, we apply knowledge learning in program and working experience to collect, analyze, assess business environment, internal company, then show orientation of business strategies that is suitable for development of company in coming period Conclusion inferred from this capstone project report:  Business strategies are very necessary for enterprises to exist and develop in harsher and harsher business environment  Analysis of business environment shows that Kinh Do JSC has many opportunities of developing, besides, there are lots of difficulties, challenges  Internal analysis shows strong points to be promoted, weak points to be made good, to create competitive advantages for enterprise  Strategic orientation of company is staying in the leading position of food processing industry in Vietnam In the report scope and with restricted knowledge, though we have tried to collect basic theories and applied business strategies in production and business, it is unavoidable to have restrictions, mistakes and matters that not mentioned or not thoroughly mentioned We are looking forward to receive contribution, instructions from the teachers and readers, then this report can continuously be perfected and applied in business reality of company Thank you very much! 89 REFERENCES List of references: Associate Professor, Dr.: Nguyen Thi Lien Diep (1995), “Strategy and Business policy”, Statistical publishing House Associate Prof., Dr.: Nguyen Thi Lien Diep (1997), “Management science” , Statistical publishing House Nguyen Huu Lam, Dinh Thai Hoang, Pham Xuan Lan (1998), “Strategic management- competitive position improvement” , Education and Training publishing Pham Lan Anh (2000), “Strategic management”, Science and technology publishing Dr Vo Thanh Thu (1996), “Foreign trade relations”, Statistical publishing house Dr Nguyen Thanh Hoi, Dr Pham Thang (2005), “Management science”, Statistical publishing house Vinabico Joint Stock Company http://www.vinabico.com.vn Hai Chau confectionery company http://www.haichau.com.vn Bien Hoa confectionery JSC http://bibica.com.vn 10 Kinh Do JSC www.kinhdofood.com 11 Network of electronics communication - Food safety http://www.vietnamfood.com.vn 12 General statistics office of Vietnam http://www.gso.gov.vn/default.aspx?tabid=387&idmid=3&ItemID=4679 13 Ministry for planning and investment of confectionery growth http://www.mpi.gov.vn/ttkt-xh.aspx?Lang=4&mabai=1415 90 14 Ministry of finance http://www.mof.gov.vn/Default.aspx?tabid=612&ItemID=38660 15 State of food processing industry 1996-2000 and development orientation 2001-2010 in Ho Chi Minh City http://www.dpi.hochiminhcity.gov.vn/data/news/2003/7/143/chebienthucpham.ht m 16 Development orientation of industry in Ho Chi Minh City 2007 http://www.itpc.hochiminhcity.gov.vn/vi/tin_tuc_thi_truong/tin_tuc/tin_trong_nuo c/fo lder.2007-01-02.0112346049/folder.2007-0102.0297183819/news_item.2007-0111.8910317456 17 Development orientation of processing industry in Vietnam 2000-2020 http://vst.vista.gov.vn/home/item_view? objectPath=home/database/an_pham_dien_tu/ nong_thon_doi_moi/2005/2005_00024/MItem.2005-06-15.4704/MArticle.20050615.4717 18 UNDP (United Nations Development Program) http://www.undp.org.vn 19 Vietnam economy Statistics 1996-2006 – Saigon times No 01/2007 21 Research Institute for Economic Management Central http://www.ciem.org.vn/home/vn/home/index.jsp 22 Ministry of science and technology http://www.most.gov.vn/ 23 State records management and archives department of Vietnam http://www.luutruvn.gov.vn/ 24 Reports on production-business effect, financial report - Kinh Do JSC 20052009 25 Hochiminh stock exchange http://www.hsx.vn 26 Hochiminh securities joint stock company 91 http://www.hsc.com.vn APPENDIX CLASSIFICATION OF CONFECTIONERY: Confectionery are classed into following groups: Candy: groups a Hard candy: - Characters: hard, brittle, and in state like glass When using, people usually “hold in mouth” other than “chew” - This kind has lesser nutrition than soft candy because of using little natural flavour but mainly artificial flavouring - Hard candy can be formed by moulding or pouring - Typical flavour: + Fruit flavour (flavouring) + caramel flavour including main flavours: milk caramel, chocolate and coffee + Mint, ginger, tea, cinnamon, liquorices, etc (resource: medical herbs) - Typical states of hard candy: + Normal hard candy: transparent, hard, brittle + Spongy hard candy: spongy, brittle, due to lots of air bubbles Because of this air, candy color is opaque, not transparent like others, then it can be chewed + Hard candy with stuffing: stuffing is pumped to the inside of candy Its flavour can be of fruit, chocolate, wine, etc Fruit flavour stuffing may be taken from fruit supplementing vitamin b Soft candy: - Characters: soft, glutinous, people usually “chew” This kind usually uses natural materials with lots of vitamin – Typical flavour of this: + Fruit chew: this can be the combination: e.g.: between fruit flavor and yogurts, fruit and milk 92 + Caramel: A popular type of soft candy, including main types: caramel milk, chocolate and coffee c Jelly and gums: - This has high moister Many types of gel making things are used: gelatin, pectin Agar, gum, Arabic, denatured starch - Characters: glutinous, tough, in shape of colorful animals d Nougat and Marshmallow: - This is soft, glutinous like soft candy, however it is spongier and added some kinds of nuts: peanut, cashew, walnut, almonds, sesame, etc this requires high technology production, esp in keeping nut added to be lonely brittle, not oil stale e Chewing gum: - Difference: only for chewing, not swallowing Flavour: mint, fruit, cinnamon, etc - kinds: blowing candy, blowing up candy, siro stuffing Blowing candy can be blown to be bubbles, mainly for children Cake groups: a Biscuit: - Shape forming: by moulding, creating brittle and hard character Sometimes some vitamin and minerals are added to raise nutrition value: foe example: cake with canxi, vitamin B, sesame and cashew - This can be clamped by different flavour cream: fruit, chocolate, coffee Or covered by chocolate or coated by chocolate inside B Cookies: - Shape forming: By pushing, kneading There is more sugar and fat than biscuit, spongier and not as hard as biscuit Producers can add Fruit jam or cookies stuffing (normally of fruit or chocolate flavour) c Crackers: - Main component: wheat flour, fat and salt There is almost no sweet Sometimes sugar is scattered on cake surface Cream can be clamped Salty taste 93 depends on salt content Not salted crackers can be used in breakfast with milk at 85oC for people on diet d Wafer: - This is spongy, it has many layers, clamped cream or pipe shape, stick e High spongy Cakes: - These cakes have lots of air bubbles, so it is spongy, low weight like spongy cake, Chocopie, Layer cake, etc - If they are not packed, they are called fresh cakes and are made in handicraft production, short term maintenance, decorated by cream blooms, additive decorating materials, etc - If they are produced industrially, with package, long-term preservation, they are called layer cake, with cream clamped or chocolate covered f Bread and sandwich: g Snack - Brittle, spongy state This kind is formed by cutting, rolling or pressing, pushing Pressing and pushing can make many complex and plentiful shapes If other kinds of cakes can be made from wheat flour only, this kind is made from corn flour, cassava, potato flour This is soaked with much additive, unique flavour: sea food, baked lobster, onion, etc h Moon cake: - This has the characteristics of Eastern Asia, only for Middle Autumn Fried potato: - Thin slices of potato are fried well and soaked flavour Snack nut: - Some kinds of fruit are fried well or dried, then packed like snack, the most popular ones are cashew, peanut, popcorn, Holland bean, etc Chocolate and related products Regional Confectionery specialty 94 95 ... Patented trademarks of Kinh Do company that are in use: 36 Exhibit 2.1 Logo of Kinh Do Joint Stock Company  Company name: Kinh Do Joint Stock Company  English name: Kinh Do Corporation  Chartered... 3.3 Determining business strategies for Kinh Do JSC in 2010-2015 .78 3.3.1: Current business strategy of Kinh Do 78 3.3.2: Main strategies for Kinh Do 78 3.2.2.1 Product differentiation... INTRODUCTION OF KINH DO JOINT STOCK COMPANY AND ITS BUSINESS ENVIRONMENT ANALYSIS, INTERNAL ANALYSIS 2.1 General introduction to Kinh Do joint stock company: 2.1.2 Formation and development: Kinh Do