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GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT Proposal on Forming Business Strategic for Vietnam Technical Electricity Equipment Co., Ltd (VNTEC) in Period for 2011-2015 GaMBA01.X02 – Group No 09 Group Members: Luong Quynh Huong Tran Thi Hong Tham Dao Linh Trang Hoang Thi Minh Thao CAPSTONE PROJECT REPORT - GaMBA – X03- Group HANOI, December 2010 ACKNOWLEDGMENT To: - GRIGGS University – MBA Training Program - ETC – Hanoi National University First of all, our Group would like to convey the best regards to the ETC in cooperating with GRIGGS University to hold this MBA Training Program We also would like to express our sincerely thanks to all the Professors who transfer their own knowledge by their enthusiasm and talent through the compact lectures, that help such trainees as us to understand more deeply the macro and micro economic aspects that we can apply in our works with the aim of obtain business better result We want to thank the Capstone Report Assessment Council who instruct and help our Group to complete the Capstone Report on establishing and proposing a development strategy for one company that our Group selected in line with the requirement of the thesis as well Finally, all our effort would have been in vain if the Class Administrators hadn’t been spending their very long working days to accompany GaMBA 01.X03 class to look after all matter relating to us and class in whole the studying process Thank you all Our Group really appreciates the GRIGGS University, the ET Center, and all CAPSTONE PROJECT REPORT - GaMBA – X03- Group List of Abbreviations ARPU Average revenue per user BOD Board of directors CEO Chief Executive Official EFE External Factor Evaluations FDI Foreign Direct Investment HR Human Resources IFE Internal Factor Evaluation PEST Political, Economic, Social and Technology SMART Specific, Measurable, Assignable, Realistic, Timely SME Small and Medium Enterprise SWOT Strengths, Weaknesses, Opportunities, Threats VNTEC Vietnam Technical Electric Company Ltd WTO World Trade Organization List of Figures Figure 1: VNTEC factory and its office Figure 1.1 The Strategy Management Process CAPSTONE PROJECT REPORT - GaMBA – X03- Group Figure 1.2 The Model of Strategic Management Process Figure 1.3: Levels of Strategy Figure 1.4: Porter's Generic Strategies Figure 1.5: PEST Model Figure 1.6: The graphical representation of Porter's Five Forces Figure 1.7: Chain Value of Michael Porter Figure 1.8: SWOT Matrix Figure 1.9: SWOT Analysis Figure 2.1: VNTEC Factory and its office Figure 2.2: Electric equipment Figure 2.3: Medium voltage switch boards, cabinets and panels Figure 2.4: Kios-Substation Figure 2.5: Organization mechanism matrix Figure 2.6: Revenues & Net Income 2005-2009 Figure 2.7: Vietnamese economic structure 1990-2009 Figure 2.8: Five-Forces of Michael Porter Figure 2.9: Returns on Sales of VNTEC 2005-2009 Figure 3.1: The I-E Matrix for VNTEC Figure 3.2: SWOT Matrix for VNTEC Figure 3.3: SWOT Analysis for VNTEC Figure 3.4: Chain-value for VNTEC’s Business Activities List of Tables Table 2.1 Vietnamese economic structure forecast for 2010 Table 2.2: Liquidity Index of VNTEC 2005-2009 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Table 3.1: External Factor Evaluation Table Table 3.2: Internal Factor Evaluation Table TABLE OF CONTENTS ACKNOWLEDGMENT List of Abbreviations List of Figures CAPSTONE PROJECT REPORT - GaMBA – X03- Group List of Tables TABLE OF CONTENTS PREAMBLE Purpose of preparing the capstone report The reason of selecting VNTEC for case-study to formulate the business development strategy 10 CHAPTER 1: THEORETICAL BASIS ON FORMULATING BUSINESS STRATEGY 13 1.1 Concepts and theories 13 1.1.1 Strategy and Strategic Management .13 1.1.2 Vision, Mission, Goals/Objectives, Policies 17 1.1.3 Levels and types of strategy 18 1.1.4 Competitive Strategies: 19 1.2 Theoretical model to be applied in the research 26 1.2.1 External Environment Analysis 26 1.2.2 Internal environment analysis 33 1.3 Research tools and methods 36 1.3.1 External factor evaluation – EFE 36 1.3.2 Internal factor evaluation – IFE 37 1.3.3 Internal – External factor (I-E) matrix 37 1.3.4 SWOT matrix 38 CHAPTER 2: VNTEC AND EXTERNAL-INTERNAL FACTORS INFLUENCING TO COMPANY’S BUSINESS OPERATION .41 2.1 VNTEC’s background information 41 2.1.1 General introduction .41 2.1.2 Major operation framework 42 2.1.3 Vision and Mission of the VNTEC 45 CAPSTONE PROJECT REPORT - GaMBA – X03- Group 2.1.3 Organization mechanism 45 2.2 Organizational Core Values 47 2.2.1 Production, Supplying and Construction Works: 47 2.2.2 Human resources: 47 2.2.3 Relationship 48 2.2.4 Operation Results for recently 48 2.3 Basic elements influencing to VNTEC’s current business operation 53 2.3.1 External environment elements 53 2.3.2 Internal environment elements 71 CHAPTER 3: BASIC ANALYSIS AND DEFINING THE BUSINESS STRATEGIES FOR VNTEC IN THE PERIOD FOR 2011-2015 75 3.1 Analysis on VNTEC’s Internal – External (I-E) Factor Matrix 75 3.1.1 External Factor Evaluation Table 75 3.1.2 Internal Factor Evaluation Table 76 3.1.3 Internal – External (I-E) Factor Matrix 78 3.2 SWOT Analysis for VNTEC 79 3.3 Short term objective identification for sustainable development strategy of VNTEC in the period for 2011-2015 .83 3.4 Proposing business strategies for VNTEC 84 3.4.1 High quality products with focus strategy .85 3.4.2 Production Management Plan 85 3.4.3 Financial Management Plan with Technical Investment Issue 89 3.4.4 Promotion it production through PR activities 90 3.4.5 Human resource strategy 91 CONCLUSIONS 93 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Observation on VNTEC’s Potential 93 The feasibility of Development Strategy formulated and expectation to apply the strategy successfully to VNTEC .96 REFERENCES 96 PREAMBLE Purpose of preparing the capstone report An enterprise occasionally, is it like needs a living organism, to be re-examined CAPSTONE PROJECT REPORT - GaMBA – X03- Group periodically to identify if it strengthens or weakens, whether there are advantages or opportunities for its development as well as to find out where challenges are in order to adjust itself, and which enterprise find out the rule in doing business, that enterprise will go to win because it can identify own strategy for properly and timely making decisions After studying the Strategic Management Subject, we can know how to exploit the major factors in the business strategy of one organization Day by day, companies have to solve further the problems of human resources, technology and strategy These resources interact and coordinate together to redefine the economic and competitive contexts on a global scale Despite the challenges are set out to development process, these resources are also opportunities for companies of all scales or all sizes in all industries Pioneering enterprises will seek out the manners to create new competitive advantages through adapting with the business environment or sometimes reshape its own business operation To survive and thrive in the current competitive environment, more than ever, enterprises need to build and sustain its competitive advantages It is a matter related to the strategic analysis for development Business strategy is a set of goals and policies set forth by the collective decisions on methods of identifying enterprise position to raise returns and create economic value for shareholders and owners Strategy to help answer two key questions: "Which industry should we participate in?" and "How shall we compete?” Therefore we must use the knowledge that we learned in forming the analytical skills in order to have competitive position for our enterprise, evaluate business strategies, and identify and analyze each business actions The concepts and models studied will help the learners as us to know how to solve complex problems in business strategies with the aim at building up solid foundation for making management decisions process CAPSTONE PROJECT REPORT - GaMBA – X03- Group The reason of selecting VNTEC for case-study to formulate the business development strategy For each organization or enterprise, strategy plays an absolutely important role, it can be compared like the steering wheel to steer the entire boat moving forward, in which the steering people are the management of such organization or enterprise Thank to the strategies, it is possible to determine the destination along with the system of objectives and solutions in order to implement, and then the enterprise can defeat its competitors or at least survive in the market Each organization or enterprise or even each individual need to implement the researches and formulate its own strategic Although many groups selected the famous State Owned Enterprises (SOEs), companies or organizations for their own capstone project, in this report, Group would like to take one Small and Medium Enterprise (SME) to be the case-study for our captone project, it is Vietnam Technical Electric Company Limited (VNTEC), because of the significant contribution of SMEs to the economic and social development of the country: - Since 1986, when the Party and Government have recognized the urgency of economic reform policy, so Vietnam had a very important transition to a market economy that accepted the multi-sector economy The role of SMEs has been aware correctly since that time - Recently, with the formation and development of these types of enterprises in market economy, SMEs have developed drastically and contributed a significant role in the economic development of our country Although there is not an official and overall survey result about the increasing in total equity, net revenue, profits, total assets of SME sector for recent years, but in the fact, Vietnam economy shows the rapidly increasing indexes and SMEs have been formed and developed widely in both urban and rural areas, in most industries, 10 CAPSTONE PROJECT REPORT - GaMBA – X03- Group 3.3 Short term objective identification for sustainable development strategy of VNTEC in the period for 2011-2015 “Strategies can be implemented through short-term objectives, functional tactics, reward system, and employee empowerment The organizational structure, leadership and culture are important in implementation of strategy execution” (Pearce & Robinson, 2005) In order to pursue the company vision and mission for whole operation process in longterm Group would like to propose the WT- Strategy after all the analysis perspectives of company as above with identification the short term mission for business strategy of VNTEC in the period for 2011-2015 In order to find out that shorter mission of VNTEC, we have to answer two questions: where is VNTEC now? And where does VNTEC want to be? So, with the current situation, VNTEC is being in Cell-V of IE Matrix and there are business field of Civil work nearly fall to Red region of Cell- VI Hence, the business strategy mission of VNTEC in periods for 2011-2015 is to strive to: - Strengthen and grow its market share as much as possible; - Improve human resources and ensure the stable works for the employees; - Consider of cutting off Civil Work field to concentrate to Trading and Producing fields to save the cost; - Buying more necessary equipment and machineries; - and Reform chain-value Actually, market only receives a certain volume of supplies and other companies are also holding some of their share either Therefore, it is not easily to expand and develop 86 CAPSTONE PROJECT REPORT - GaMBA – X03- Group the business to increase market share The important thing at this time is how the company can hold its market share, always ensures sufficient jobs for its employees, day by day can improve incomes for them, and gives more contribution to society By taking these actions successfully, it can ensure the development of company and state economy In fact, it is not necessary to use only one strategy in one time Multiple strategies can be used at the same time or according to a certain route Here are some suggestions for business strategy, which will improve VNTEC’s operation and help VNTEC can be sustainable in the market as following Section 3.2: 3.4 Proposing business strategies for VNTEC In the modern business environment, companies seem to be swimming in the sea with full of sharks – it has to face with very severe competitors But the company still found itself a new area for themselves, which we call the 'Blue Ocean, where they can swim alone without threats from competitors In many business sectors, although the competition to dominate the market even is very necessary, it is still insufficient to maintain high business results To capture these opportunities and profitable growth, they need to create "blue oceans" Not aim to compete, strive to foresee needs of consumers and take it as a starting point rather than the value that competitors can offer to customers Therefore, after years of business, the company may have to re-assess the direction of their product development It has to base on market needs and the needs of main customers of the company to determine their own strategies Strategy to develop a lot, but the strategy of how to be most effective, most likely, best for business at this period could be as follows: 87 CAPSTONE PROJECT REPORT - GaMBA – X03- Group 3.4.1 High quality products with focus strategy Although VNTEC has not to be too hard in competition with other rivals, but VNTEC had better not be subjective VNTEC always have to make its own differentiation advantages such as improving the quality and design of their products, trying to reduce costs This does not mean to strive to reduce prices but it is aim at increasing profits and preparing to prevent any risks that may occur when the economy is more volatile while its competitive ability come down and the company still being able to sustain to draw out the necessary steps for companies to deal with these difficulties It Means VNTEC should use the Focus Strategy up on each market segment that can apply both differentiation and cost-Leadership appropriately Usually due to the quality increased, it always is in parallel with the cost increased as well But if that cost is cut off any unnecessary steps to spend for improving the quality of the VNTEC, it will be able to achieve the objectives Currently, VNTEC selling prices is cheaper in compared with competitors’ prices in general on both import products (only / price of imported units) and products produced in the country However, VNTEC is not necessarily to apply lower prices than competitors from now on When the differentiation is made in design and quality together with its services, the company can rise prices now equivalently with rivals and even a little higher and customers still accept it Because VNTEC’s customers are companies or corporations, so they are not too sensitive with price like individuals, they mainly base on the quality 3.4.2 Production Management Plan VNTEC should import more necessary machineries and equipment for both producing and civil works about in 2014 when VNTEC paid all the short-term debts (please see more in Section 3.4.3) to reduce the impact on the issue of labor movements, improve 88 CAPSTONE PROJECT REPORT - GaMBA – X03- Group the quality and increase quantity of the product, installing camera for monitoring system in the manufactory Besides the strategic development of human resources, VNTEC should promote research and application of information technology, science and technology in production and business activities, and eventually to the invest production lines for the manufactory with advanced and comprehensive technology, in particular: The management, production works, processing data of the Company should be done on computer, using specialized software The data systems of the company is saved, maintained and exploited through the local computer network and the Internet; Try to make full of use of the most of global information networks and the Internet to exchange information and communication in order to save time; organize teamwork line towards the forming of production management model with international standards As a concrete example showed that, in the 1980s, due to expensive cost of land and raw material inputs, Toyota and Honda have developed models of inventory and quality management "just-in-time " model, which includes the production on time, right place, and products that customers need, thereby reducing excess materials and labor VNTEC must apply the “just-in-time” management model and turn the key threats that company has to face into its advantages In addition, VNTEC still keep the outsource for electroplating stage, hiring some big machineries that VNTEC cannot buy due to the efficiency of the investment, R & D activities, marketing activities in its chain-value in order to consider to reduce unnecessary stages in operation and doing business as below 89 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Figure 3.4: CHAIN-VALUE FOR VNTEC’S BUSINESS ACTIVITIES Primary activities Inbound logistic (raw material handling & warehousing Operations (machining, assembling, testing) Outbound logistic (warehousing & distribution of finished product) Marketing and sales (advertising, promotion, pricing, canal relation) Services (installation, repair, parts) Plating (production)/ cutting, drilling, carpentering (construction) Assembling or constructing Testing Trading Producing switch boards, panels, cabinets Civil works In which the chain-value in Operations: Operations Designing Machining Producing switch boards, panels, cabinets Civil works CAPSTONE PROJECT REPORT - GaMBA – X03- Group 90 Support activities Firm infrastructure (general management, accounting, finance, strategic, planning) Human resource management (recruiting, training, development) Technology development (R&D, product and process improvement) Procurement (purchasing of raw materials, machines, supplies) Trading Producing switch boards, panels, cabinets Civil works Legend: VNTEC is able to this activities efficiently, VNTEC doen’t have to use outsourcing for this activities VNTEC is able to this activities mostly as expected, VNTEC should use outsourcing for a part of this activities VNTEC is not able to this activities efficiently, VNTEC have to use outsourcing for this activities 91 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Thus, to become an enterprise operating efficiently, it should focus on developing core competences, their biggest strength Don’t business for current benefits that has to spend much resources and manpower for the sector that company is not professional in If the company follows on that way, its businesses will be sustainable development 3.4.3 Financial Management Plan with Technical Investment Issue VNTEC current cash flow deficiency results from the big investment on construction infrastructure for the factory in 2007 and 2008 and late payment from customers To cover the deficiency, VNTEC should active in requesting customers to make payment to the company VNTEC should only concentrate capital to invest in further really necessary equipment and manchineries in order to not depend much on the labor forces When the company receives the big orders, VNTEC can use the automatic machine to connect with computer to produce some parts of the products without workers It had better to be implemented in 2014 after the company can cover some investment capital for constructing factory from depreciation, advance payment from customers and the profit forecast is increasing at level of about more than 130 billion VND then VNTEC can pay the short term debts and can start to continue its investment in really essential equipment and machineries for its own business activities In order to consider the plan to buy further really necessary equipment and machineries, VNTEC also can raise about for price by 1%-2% (depend on the inflation situation) and cut off unnecessary costs (don’t recruit more staff, just reallocate the staff of construction works to other divisions) for its products as mentioned in the Focus Strategy in Section 3.2.1 With the price is increased by 1-2%, the company still 92 CAPSTONE PROJECT REPORT - GaMBA – X03- Group not only keep the market but also may pursue the strategy of expanding market share, that causes the increasing of profit (about 20-25%) and create the stable jobs for its employees All of these will make sure the sustainable operation of the VNTEC as the strategy mission set forth for the period from 2011 to 2015 3.4.4 Promotion it production through PR activities Before and currently, VNTEC create the relationship with customers by its former relation when the Director of the company was working as the Deputy General Director of one Group company Thus, VNTEC doesn’t have to implement much PR, but the customers still know about the company and its capability then introduce the company to other customers for their orders Now a day, when the communication is in the digital form, VNTEC also should create the relationship and communication with its customers by digital method The website is the one measure to solve that matter Therefore, VNTEC should redesign its website to provide information to customers more quickly and efficiently as soon as possible With the information on the website, the customer can easily imagine the design they would like to order and VNTEC also can easily recommend the customers to imitate and applied the style of switch boards or panels that is uploaded information on the website Besides that, the company should have at least one person to be in charge the PR activities to deal with customers if necessary That person also is requested to have knowledge on electric technical issues Some time, that person has to advise the 93 CAPSTONE PROJECT REPORT - GaMBA – X03- Group customers to order the most suitable equipment for their requirement So, the company can select one among technicians or technical designers of the company to be in charge this position This is will be proposed more detail in Item 3.5 – Human resource strategy VNTEC can try to expand the market by holding customer conferences, party meetings in the New Year Event, end of the year events, present gift to the customers to create closer and new relationship with its former and new customers In short, VNTEC shoud continuously to build up sustainable relationship with its customers by it high quality, best schedule, reasonable price and thorough services 3.4.5 Human resource strategy The development strategy for human resource of the company is consist of: Formulating policies on preferential treatment to attract and retain expertise and highly qualified employees, building good training and self-training policy for building stable professional team It should strive to set up and comfortable, fun and opening working environment, but still ensure the professionalism and modernization These works should be implemented promptly in every year in order to have a more stable human resources for it operation soon For stabilization of performance and future growth, VNTEC should develop a comprehensive human resources strategy that focuses on retraining personnel for efficiency, rewards efficiency improvements, and that does not unnecessarily reduce staffing levels It should reorganize the personnel structure in the company, increased powers and responsibilities as well as benefits to employees in the company It is also have to 94 CAPSTONE PROJECT REPORT - GaMBA – X03- Group create the enthusiasm and engagement of employees with the company, save labor and management cost The company can arrange at least one person to be in charge the PR activities to deal with customers if necessary by taking full advantage of using the company can select one among technicians or technical designers of the company to be in charge this position in order to implement save management cost mentioned above, because that person also is requested to have knowledge on electric technical issues Some time, that person has to advise the customers to order the most suitable equipment for their requirement So, VNTEC can send the technician or technical in charge PR position to one training course on Marketing management For the position on Human resource, the company also should have at least one person to be in charge this or at least one Deputy Director has to plurality this position Even in order to make the organization structure is the most efficient, the Director should not all works of all fields even the human resource management as he is It also cannot hand over to one staff of Accounting Division The Division with staff is also too busy now with the work volume at the moment Thereby, the company can recruit one more staff to support the Director to handle this matter That person in charge of human resource has better to be sent for training as well Besides that, the importing more machineries to reduce the impact of labor problems in the factory is also an measure for personnel matters as described in Section 3.2.2 above Before and currently, VNTEC create the relationship with customers by its former relation when the Director of the company was working as the Deputy General Director of one Group company Thus, VNTEC doesn’t have to implement much PR, but the customers still know about the company and its capability then introduce the company to other customers for their orders Now a day, when the communication is 95 CAPSTONE PROJECT REPORT - GaMBA – X03- Group in the digital form, VNTEC also should create the relationship and communication with its customers by digital method The website is the one measure to solve that matter Therefore, VNTEC should redesign its website to provide information to customers more quickly and efficiently With the information on the website, the customer can easily imagine the design they would like to order and VNTEC also can easily recommend the customers to imitate and applied the style of switch boards or panels that is uploaded information on the website CONCLUSIONS Observation on VNTEC’s Potential In summary, the motto that Company should pursue is not thinking about sublime things, but observing end-users and customers to know what they need, even normal things around in order to find what Company can best, what are the Company strengths and what field Company should operate Many companies try to find a great sublime strategy such as becoming big corporations doing business in multiple areas, expanding exports However, in our opinion, VNTEC should find a strategy from the simplest things that are how to be applied at any time, anywhere, for all kind of jobs applied for Company Business Management The primary objective of the Company is to ensure sufficient jobs for employees The secondary ones are to increase Company profit to increase incomes of all employees, to ensure a moderate number of employees undertaking the entire production and business activities of the Company, to focus on well-qualified, skilled staff with high wages rather than cheap normal one 96 CAPSTONE PROJECT REPORT - GaMBA – X03- Group The production for export is also a target However, to get prestige on the international market, the first thing to is to create a prestige in country land Secondly, while other enterprises would like to expand to world markets, VNTEC is opposite when trying to increase the ability of domestic localization as much as possible From that, high-quality goods but with low cost, even just a half or to 2/3 of the cost of imported ones can be produced If an enterprise does not have business theory, not build and communicate the mission, vision, core values, company culture, if company owners not pay attention long-term goals and orientation but just look at short-term goals with "snatch", "quickly done, quickly completed" business style, they shall get losses and bankruptcy Therefore, how vision should be, how corporate culture should be set up, how longterm goals and orientation are formed are the responsibilities of each company based on their own capacity and resources, and VNTEC is not an exception Some Principles Applied by Group that are recommended to VNTEC in formulating strategy in the future Seven principles for the successful implementation of business strategy: Ensuring that the business plan a simple and specific: Avoid lengthy descriptions of the business objectives Instead of that, clearly identify the activities that your company shall and shall not Assuming the challenge: Make sure that the assumptions in the long-term business strategy must reflect market economic situation and real company operations in comparison with competitors 97 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Being consistent in operation: Leaders of the Company divisions as well as groups determining business strategy, marketing and financial operations of the company must reach agreement on common operation assessment framework Early giving discussion on resource allocation: The challenge for enterprises is in the time they need new resources to implement their business strategies Through questions like “How From strategy to practice -Photo: fast can your company develop a sales force?" www.activestrategy.com and "How fast shall competitors be able to react?”, you can make more feasible and consistent forecasts and business plan Identifying priority areas: Doing business with plan requires some key activities be conducted on time and in appropriate ways Public disclosure of strategic priority is done so that all employees are aware of the focused business activities Continuously supervising business operations: Supervising actual business results and comparing with the company business plan From that, rebuild the assumptions for business plan and reallocate resources if necessary The errors in business plans and in implementing those plans can be adjusted Avoid confusion on the two activities Developing the ability of implementing business plan: Those who implement business strategy are important than any strategic business Selecting and developing the capacity of company managers should be considered as priorities in business (Summary of key ideas from the HBR article by Michael C Mankins and Richard Steele) 98 CAPSTONE PROJECT REPORT - GaMBA – X03- Group The feasibility of Development Strategy formulated and expectation to apply the strategy successfully to VNTEC For stabilization of performance and future growth, VNTEC should develop a comprehensive human resources strategy that focuses on retraining personnel for efficiency, rewards efficiency improvements, and that does not unnecessarily reduce staffing levels There are a variety of risks that VNTEC may encounter during strategy execution: financial distress, potential problems in firm acquisition, employee resistance, timing, competitors’ reaction, customer preference shift, management conflict, and inaccurate prediction To deal in advance with the above risks, VNTEC may should really put serious think on the proposals of the Group in order to apply for its sustainability and development Therefore, Group really expects the company will consider carefully about serious analysis of the Group in forthcoming time and can implement it successfully REFERENCES 99 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Text Book – Strategic Management – GaMBA of Griggs University Presentation Slides - GaMBA of Griggs University Tex Book – Human Resource Management - GaMBA of Griggs University Tex Book – Operation Management - GaMBA of Griggs University Tex Book – Marketing Management - GaMBA of Griggs University Tex Book – Financial Management - GaMBA of Griggs University VNTEC Financial Report 2005-2009 Data from General Statistic Office UNDP Report 2009 for Vietnam project 10 Master Plan VII for Power Sector – Vietnam Electricity (EVN) 11 Lamb, Robert, Boyden Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall, 1984 12 Chaffee, E “Three models of strategy”, Academy of Management Review, vol 10, no 1, 1985 13 Levinson, J.C Guerrilla Marketing, Secrets for making big profits from your small business, Houghton Muffin Co New York, 1984 14 Hamel, G & Prahalad, C.K “The Core Competence of the Corporation”, Harvard Business Review, May–June 1990 15 Deming, W.E Quality, Productivity, and Competitive Position, MIT Center for Advanced Engineering, Cambridge Mass., 1982 16 Reichheld, F The Loyalty Effect, Harvard Business School Press, Boston, 1996 17 Tichy, Noel Managing Strategic Change: Technical, political, and cultural dynamics, John Wiley, New York, 1983 18 Mintzberg, Henry and Quinn, J.B The Strategy Process, Prentice-Hall, Harlow, 1988 19 Liebeskind, J P “Knowledge, Strategy, and the Theory of the Firm”, Strategic Management Journal, vol 17, winter 1996 20 Kim and Mauborgne Blue Ocean Strategy Harvard Business Press 2005 100 CAPSTONE PROJECT REPORT - GaMBA – X03- Group ... University – MBA Training Program - ETC – Hanoi National University First of all, our Group would like to convey the best regards to the ETC in cooperating with GRIGGS University to hold this MBA Training... strategies 40 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Figure 1.9: SWOT Analysis (Source from Presentation Load) 41 CAPSTONE PROJECT REPORT - GaMBA – X03- Group CHAPTER 2: VNTEC AND EXTERNAL-INTERNAL... unit (RMU) 44 CAPSTONE PROJECT REPORT - GaMBA – X03- Group Figure 2.3: Medium voltage switch boards, cabinets and panels 45 CAPSTONE PROJECT REPORT - GaMBA – X03- Group + Kios-Sustations Figure