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1.1 CAPSTONE PROJECT REPORT BUILDING THE BUSINESS STRATEGY OF THE JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAMVINH BRANCH FROM 2011-2020 Le Thi Hue Anh Pham Thi Hoai Thu Tran Thanh Son Nguyen Van Phuc Class: GAMBA01.V03 NGHE AN 2011 STRATEGIC MANAGEMENT Group - GAMBA01.V03 ACKNOWLEDGE First of all, we would like to thank the griggs university for providing us the opportunity to participate in this course, in which we have received many benefits in terms of knowledge, approach and methodology of doing research We certify that the Capstone Project Report “Developing business strategy for Joint Stock Commercial Bank For Foreign Trade of Vietnam-Vinh Branch in the period of 2011 - 2020” is the result of our own work, data collection and analysis of the Capstone Project Report is correct The Capstone Project Report does not coincide with any other Capstone Project Report Our thanks are also sent to all our teachers in the griggs university for Master of business administration Programs for their enthusiastic supports We also wish to express our appreciation for the assistance of the university staffs; all our friends and classmates who helped us fulfill this Capstone Project Report Vinh city, 31 May 03 2011 On behalf of group Leader Le Thi Hue Anh STRATEGIC MANAGEMENT Group - GAMBA01.V03 CAPSTONE PROJECT REPORT LIST ABBREVIATION IFE : Internal Factor Evaluation Matrix EFE : External Factor Evaluation Matrix SWTO : Strengths, Weaknesses, Opportunities, and Threats QSPM : The Quantitative Strategic Planning Matrix ASEAN : Association of Southeast Asian Nations AFTA : Asean Free Trade Area APEC : Asia-Pacific Economic Cooperation WTO : world trade organization GDP : Gross domestic product SB : State Bank of Vietnam IMF : International Monetary Fund CPI : Consumer price index BIDV : Bank for investment and development of Vietnam VIB : Vietnam International Commercial Joint Stock Bank VIETINBANK : Vietnam joint stock commercial bank for industry and trade VP BANK : Vietnam Joint Stock Commercial Bank for Private Enterprises VIETCOMBANK : Joint stock commercial bank for foreign trade of Vietnam L/C : Letter of Credit EFTPOS : Electronic Transfer at Point of Sale ATM : Automatic Teller Machine STRATEGIC MANAGEMENT Group - GAMBA01.V03 INTRODUCTION Necessity of the Capstone Project Report The banking sector is one of sectors affected most obviously and powerfully by the trend of current international economic integration Integration could bring more development opportunities but also bring many risks, threats and challenges for the banking sector The banking is a specific business sector and has a special importance in the process of national economic development but also is very sensitive to the national and international changes of economic, political and social environment Therefore, the activities of commercial banks are always concerned and controlled closely Besides, internal competitive pressure has been increasingly severe and the economic integration process of the country has happened deeply and widely Requirement for each bank is to build their own strategies to operate stably and develop on the basis of taking advantage of opportunities and limiting challenges in the integration process To overcome challenges and make good use of the opportunities, thereby improve their competitive position in the market, the bank must make appropriate business strategy for each period, each stage of the development, in accordance with global trend on the principle of balancing national interest with bank interest In such general context, Joint Stock Commercial Bank for Foreign Trade of Vietnam, Vinh Branch has tried effort to assert its position together with improving competitiveness in exciting financial bank market of Nghe An Province STRATEGIC MANAGEMENT Group - GAMBA01.V03 Originating from this practice, the research team chose the Capstone Project Report: "Building the business strategy of the Joint Stock Commercial Bank For Foreign Trade of Vietnam-Vinh Branch from 2011 to 2020” in the hope of improving business efficiency and put up Vietcombank Vinh branch a new position in Vietcombank system in particular and Vietnam's banking system in general Research purposes The purposes of the Capstone Project Report is to develop business strategy for Joint Stock Commercial Bank For Foreign Trade of Vietnam-Vinh Branch from 2011 to 2020 and suggest implementation measure; and with their own smart business strategy, Vietcombank Vinh branch will improve competitive position, market share for capital mobilization, payment services, card services make an important contribution to the economic development of the province in the renovation period Research objective and scope Research objective is Vietcombank Vinh branch Research scope of the Capstone Project Report restricts to strategic issues and strategic management of the banking sector Analysis data is primarily from Vietcombank Vinh branch Therefore, the Capstone Project Report is only applied for this branch Research method - The rationale for the Capstone Project Report research is the subjects theory: Strategic Management, Marketing Management, production administration - The approach: the Capstone Project Report combines approaches such as individualized approach, historical approach, the approach of quantitative and qualitative - Method of data processing and analysis: The Capstone Project Report uses method of descriptive statistics, analysis, and synCapstone Project Report when evaluating the business operation results of Vietcombank Vinh branch: Use analysis matrix EFE, IFE, SWOT, QSPM STRATEGIC MANAGEMENT Group - GAMBA01.V03 - Information sources: The Capstone Project Report uses secondary information from newspapers, Internet and reports of Vietcombank Vinh branch, the State Bank of Nghe An Province Structure of the Capstone Project Report: Apart from introduction, conclusion, reference, and appendix, structure of the Capstone Project Report consists of three chapters: Chapter I: The rationale for building the business strategy of enterprise Chapter II: Analyzing the business environment of Vietcombank Vinh branch Chapter III: Selection of strategies and strategies measures at Vietcombank Vinh branch in the period of 2011-2020 STRATEGIC MANAGEMENT Group - GAMBA01.V03 CHAPTER I THE RATIONALE FOR BUILDING THE BUSINESS STRATEGY OF ENTERPRISE 1.1 Definition and role of strategy 1.1.1 Definition In the opinion, business strategy is an art, then: - Alain Threlart states that "Strategy is the art that enterprises use against competitiveness and to success" - M Porter believes that "Strategy is the art of building a solid competitive advantage to defense" Thus, these authors considered business strategy as an art to compete in the market and business development In terms of management standpoint and category, business strategy is a plan, then: - G Arlleret states that "Strategy is the determination of ways and means to achieve the objectives defined by the policies" - D Bizrell and the authors believe that "Strategy is as a general plan leading or directing enterprise to the desired target It is the basis to establish the policies and operational measures" - Gluecl believes that "Strategy is a consistent, comprehensive and integrated plan designed to ensure that the enterprise’s objectives will be performed" In the opinion of combining consistence: - "Business strategy is the art of coordinating activities and controlling them to achieve long-term targets of enterprise" - Chandler considered that strategy involves defining the basic long-term targets of enterprise, choose way or the process of action, allocate the necessary resources and implement those targets STRATEGIC MANAGEMENT Group - GAMBA01.V03 In the enterprise, "Strategy is the art which designs and organize proposals to achieve long term targets of the business and have a relationship with the changes of the business and competitiveness environment" 1.1.2 Roles of strategy First:business strategy helps enterprise to identify the purpose and its direction as a basis, a guideline for all business and production activities of enterprise; Secondly:Business strategy helps businesses to seize and take advantage of business opportunities, and have proactive measures to overcome the risks and threats in the competitive market; Thirdly: Business strategy contributes to improve the efficiency of using resources, enhance the competitive position of enterprises to ensure the sustainable development of enterprises; Fourthly: Business strategy creates a solid basis for working out decisions and policies on business production in line with market fluctuations 1.1.3 Strategy of business unit a) Cost leadership strategy Cost leadership strategy is collection of actions aiming at providing products or services that have the characteristics accepted by customers with the lowest cost in relation to all competitors The purpose of cost leadership strategy is to better than competitors, so that the cost of producing and supplying any product or service is lower than that of competitors b) Differentiation strategy Target of general differentiation strategy is to gain the competitive advantage of company by producing products (goods or services) that customers can realize their unique feature in terms of some important characteristics Company makes a difference to satisfy customer demand in a way that competitors cannot with requirement of price increases (at significant price above the industry average) Ability of generating income by require a price rate increase (rather than cost STRATEGIC MANAGEMENT Group - GAMBA01.V03 reduction as in the case of the cost leadership strategy) enables those who make a difference to better than competitors and won profit above average level of sector Increased price rate of who make differentiation is normally higher than the price required by those lead costs, and customers are willing to pay for it because they believe in the differentiated quality of product c) Focus strategy Focus strategy is the third general competitive strategy The main difference with the two above strategies is that it focuses on serving the needs of the limited customer group or segment A focus strategy directs at specific market gaps that can be determined in terms of geography, customer type, or by the segment of product route For example, a geographic gap can be determined by region or even by location It can select an upstream, middle, downstream client or the young 1.2 Process of developing business strategy Building business strategy is the first stage in the strategic planning process, including from step to step in the following diagram: STRATEGIC MANAGEMENT Group - GAMBA01.V03 Figure 1.1:STRATEGIC PLANNING PROCESS Mission and objective (1) Analysis of Internal business (S, W) (3) Analysis of Business environment (O,T) (2) Select strategy options (4) Corporate strategy (5) Strategy for business division and functional units Strategy implementation (6) Control and evaluation (7) Feedback information Step 1: Define mission and objection This is the first step of the strategy formulating process Mission and main objectives of the organization provide a context for building strategy Business mission of an organization is the purpose of its business activities, is the reason for the establishment, survival and development of an organization Business mission of an organization answers the question: What are the purposes of establishment and existence of an organization? The objectives are the states and the specific results that an organization wants to achieve within a certain period Most organizations pursue profit, achieving the target of leading position The second objectives are one that an organization deems necessary if they want to reach the excellent capacity Step 2: Analysis of business environment 10 STRATEGIC MANAGEMENT Group - GAMBA01.V03 years such as: regular savings, business lending, domestic payment card products payment reports, providing package service, priority to provide credit to all customers using banking services such as: deposits, international payments, foreign exchange, wage payment, loan production, developing retail banking services: home loans, buying cars loans, credit cards are the modern banking products which have not paid much attention and developed truely towards the comprehensive and modern banking activities in the future Besides, Vietcombank Vinh can base on banking activities in advising area to recommend new breakthrough products with feasible investment and study for the Central to introduce highly practical and convenient products for customers - Besides the policy continuously supplies products, new services which are diversified and have high added value to the market, Vietcombank Vinh branch branch continues developing the network of supplying products to customers in depth (improving the utility of products and services, creating more added value such as electronic, automatic trading methods ) and width (network covering at home and abroad, diversifying systems as Autobanking, ATM, Internetbanking, POS) Strategy of developing strong human resource - Promoting the strength of a staff which is estimated to have high quality, Vietcombank Vinh branch branch chooses strategy of developing strong human resource (with professional ethics and high professional capacity) to provide the important basis of platform and enhance its competitiveness comprehensively - Vietcombank Vinh branch branch will apply the policy of paying salaries and bonuses in appropriated with the dedication, competence and the price of labor on the market; apply its own policy to retain and recruit the talent; build the staff of good experts in each field of activity; have a training plan and retrain effectively - Besides, to ensure the strategy of developing strong human resource successfully, Vietcombank Vinh branch branch will combine to build and develop 55 STRATEGIC MANAGEMENT Group - GAMBA01.V03 Vietcombank culture appropriately, create friendly working environment, encourage creativity of each individual and make fair and reasonable distribution… Marketing strategy - Strengthening the promotion of VietcomBank’s brand and image - Improving the service quality of caring the customers - Investigating to find out the needs of target customers - Focusing on the study of new retail banking products suiting with the schedule of opening service for the bank to take advantage of the banks which are leaders in the deployment Simultaneously, there must be making a difference in the quality of products, the flexibility to compete 3.3 SOLUTIONS OF IMPLEMENTING STRATEGY 3.3.1 Marketing Solutions There are four main factors to coordinate the activities of marketing: product, price, distribution (place) and marketing (promotion) Banking Marketing coordinates all four elements The specific solutions of the commercial bank in marketing activities include: a) Improving and developing the Bank's products and services: - Improving the quality of products and services through the use of modern technology, advanced equipment, and facilitating service methods to customers - Using standard products, increasing utilities that make the use of products conveniently, ensure the coherence and safety of money and all the necessary information - Expanding of products and services by self-service customers through ATM system (Automatic Teller Machine) which works 24/24 hours, transacting at home through home banking products, Internet Banking The best meet in the needs of customers by diversifying product and increasing value-added services of the product, creating maximum efficiency for customers with the lowest cost is Vietcombank Vinh branch branch’s strategy of 56 STRATEGIC MANAGEMENT Group - GAMBA01.V03 developing products Being a branch operating in the areas of Vietcombank system, the products of the branch are systematic and have general standards Moreover, by understanding of local customers and consumer habits of the area, Branch has appropriate policies to develop the best products at the customer's needs and to receive the technology, standard products services of self-service best suited for the development A significant thing here is that the policy of cross-selling products of the branch is being promoted and applied effectively Cross-selling products are understood as a customer at a time using a variety of products and services of the bank For an individual customer, those are deposit operations, consumer loans, granting cash, card payment services For business customers, those are: deposit operations, cash payments, working, fixed capital loans, international payments, guarantee or salary transfer, foreign currency trading Customers using more than one product or service of Bank for Foreign Trade of Vietnam, Vinh branch will enjoy many privileges such as interest rate of depositors agreed with high interest rates, having lending interest rate which is competitive in the market and reducing transaction costs, having priority in foreign currency trading and paying as the schedule according to published rates The development to provide fully products and services to customers demonstrating the growth of the branch and presenting a marketing strategy that is suitable with the trend of economic development in the country and abroad b) Valuation of products and services to customers: - Valuation basing on the overall benefit: In the Bank's activities, it is difficult to determine exactly the price of a single product as well as benefits having on a particular product because the services have a very close relationship - Using multiple forms of prices: standard price (quotation); own price (the secret in the incentive level to avoid price competition); grossing price (with conditions), different price (plus amplitude over the interbank market price at Sibor, 57 STRATEGIC MANAGEMENT Group - GAMBA01.V03 Libor, input price ) The valuation for products of the manufacturing enterprises is difficult, and then the valuation for the bank's products is much more difficult with the aim of ensuring profitability, competitiveness and growth which is seemingly unable to be accompanied Before 2005, the competitive environment was only almost by 04 large state banks: Bank for Foreign Trade of Vietnam, Vietnam commercial bank for industry and trade, Vietnam Bank for Agriculture and Rural Development, Bank for Investment and Development of Vietnam The valuation for products, particularly here for banking services is: deposit rates, lending rates, service fees that are relatively easy and almost have high consensus However, since 2005 up to now, with the participation of over 27 joint stock banks in the area and a wide range of financial companies, things have been quite different Leasing finance in activity has made the determination in deposit rates, lending and service charges become very important to ensure a profit, have competitive capacity and growth Thus, with the high competition of joint stock banks, the policy that the Bank for Foreign Trade of Vietnam, Vinh branch chosen is harmonized objectives: reasonable profit, ensuring the high competitiveness with banks and growing fast With such a general policy, deposit rates of the branch are always sticking the direction of Vietcombank and being flexible in deposit rates that ensure and attract customers to send money The current deposit rate of the branch is relatively competitive, nearly equal to the joint stock banks, diversify the types of money raised to improve sales, diversify products and meet the reserving ratio which is required by state bank Lending rate of Vinh branch as well as the system of Bank for Foreign Trade of Vietnam is usually lower with the motto "always gives the customer success" Vietcombank has always wanted to share the difficulties of the enterprise and ensured that parties all achieve appropriated profit This explains why customers often choose Vietcombank for their borrowing requirements Fee policy of Vietcombank system is branch managers basing on activities in the area, customers using the service at Vietcombank can be reduced the cost from 25%, 50% to 100% but not less than the 58 STRATEGIC MANAGEMENT Group - GAMBA01.V03 minimum cost c) Expanding the distribution types of products to customers Branch type Characteristics of the branch is that apparatus organization is relatively completed, working on a variety of professional, being decentralized and authorized at a level consistent with management requirements and development goals Normally, each branch is tasked to undertake the marketing and supply of products in a certain area Customers often come to transact directly at the headquarters or at trading desk of the branch Transaction offices Each transaction operates on a number of professional, fewer employees, compact structure, and leadership being nature of professional treatment than merely administrative Vinh now has 04 transaction offices within the area of Vinh city and plans to expand operations to other districts through the establishment of Quynh Luu, Do Luong transaction offices in the future The transaction offices of the branch almost provide fully banking services to customers from the capital mobilization, small and medium enterprises loans, remittance payment The head of the transaction office can compete within their capacity to provide the best services to customers Automatic banking This type of distribution channel is characterized by selfservice customers through machinery and computer programs made available Currently, machines can automatically serve a number of operations such as: cash withdrawing, transferring money, changing money, sending money, paying service charges Typical of this type is the mechanical systems, such as: - Payment machines (EFTPOS - Electronic Funds Transfer at Point Of Sale) - Automatic Teller Machine (ATM - Automatic Teller Machine) - Payment via fixed telephone, mobile phone (Phone - Banking) Vietcombank Vinh branch branch is now the leading bank providing automated and electronic banking services in the province with more than 50 points accepting payment cards and more than 25 automatic teller machines (ATM) Most 59 STRATEGIC MANAGEMENT Group - GAMBA01.V03 of hotels, restaurants, supermarkets and shopping centers are provided automatic and electronic banking services to promote Vietcombank’s image, brand to a large population The investment in machinery and equipment for automatic and electronic banking services is very expensive Currently, charging from this type of service is not much, not covering the costs That customers when using the service often use many other services is what Bank for Foreign Trade of Vietnam towards for the goal of sustainable growth in the future Electronic banking Electronic banking as well as the type of self-service customer through a system of networked computers and telecommunications equipment (Internet Banking, Home Banking) A convenient point of this type is to allow customers to carry out at home the complex payment operations such as: transferring through many clues, international payments, service requests Agent bank For some services that not require evaluation or complex calculations, the level of risk is not great The bank may authorize other entities to perform Usually, it is the agent credit card payments, foreign exchange agent, remittances payment agent, traveler's checks This distribution channel tends to expand due to the continuous development of customer's needs while the cost for setting the bank's transactions are quite expensive d) Promoting marketing activities of the bank In banking, the communication to customers is very important, especially for developing countries - where people and businesses are not familiar with the types of banking products Promotion work must be done regularly, continuously and maintained in the long time Using many different means of communication such as: Personal communication Through the transactions between the bank staff and customers With the staff having knowledge, experience, flexible behavior creativity, that will help to improve the bank’s image, strengthen customer’s confidence and gain much useful information for banks With the systematic work 60 STRATEGIC MANAGEMENT Group - GAMBA01.V03 of the branch That Vietcombank builds "standards of customer service" and commons to all branches to implement and evaluate the performance through marking the branch is one of criteria to evaluate the completed work of the branch New staff being recruited into the Bank for Foreign Trade of Vietnam will be undergoing a training course of sales skills - Popularizing activities of the Bank of society, through publishing Annual Report of the Bank, seminars, publishing articles in newspapers, magazines, answering service on radio, television, etc - Promotion Supporting customers, adding additional services, discounting for market penetrations to orient customer in using products and choosing services of the Bank - Direct Marketing: through dialogue and exchanging with customers, meeting customers to introduce the Bank and its products Sending mail, offering to company leader, consulting professional, making customer conference - Fund Activities to promote the brand, attract the attention of the public, strengthen relationships with the community and create the excitement in the staff The financing is often done through sports, arts, environmental protection, social and charity activities 3.3.2 Solutions of organization and human resources a) Restructuring the organization and operation model, management and administration structure - Restructuring the organizational model following the orientation of customers (wholesale /retail) and business criteria (sales /operation /risk management /business support) - Apply international standards in executive management - Improving capacity of risk management, specifically: 61 STRATEGIC MANAGEMENT Group - GAMBA01.V03 +) normalizing processes, operation and management procedures according to international standards Accordingly, the systems of customer management, credit management, finance management, especially risk management will be improved and advanced according to international standards +) Continuing to develop and improve the system of internal management reporting and management accounting to support business management, effective application of management information systems in supporting the decision making in business activities as well as strengthening the role of business executive, control and management of banking risks +) continuing to implement the separation clearly in the functions of three parts: customer relations, risk management and operations in all key business areas of the Bank for Foreign Trade of Vietnam b) Implementing the recruitment of human resources Vietcombank Vinh branch branch now has the regulation on labor recruitment but the implementation has some problems that we need to such as: - About the subject recruitment: Vinh ViecomBank has focused on recruiting those who are new graduate students, have high academic results, has not focused on attracting the talents, who have experience from the other units to move to the bank In the future, the branch needs to change ways of thinking about the recruiting methods For those who have real capacity from other units, the branch should base on the real needs of the bank to recruit them to work with the worthy position and treatment - During the exam: Tests and questions focus on theory, lack of reality and ignore other skills such as communication skills, behavior and team work So, the branch should propose the parent bank to reorganize the way in examining to recruit people who have not only knowledge but also other skills to serve the work better - Eliminating recruitment through the relations - Having policy in supporting and attracting the best students from the universities by building relationships with reputable universities 62 STRATEGIC MANAGEMENT Group - GAMBA01.V03 c) Training human resources and building a system to encourage the employees-Employment is a vital resource Emphasizing to build and strengthen the staff having professional ethics and high professional capacity is the goal that VIETCOMBANK always towards - Continuing to improve salary and bonus policies following the principle: being appropriated with the capacity, dedication and having competitiveness, gradually building a staff of good experts in each field and forming special treatment mechanism which directs to "attract and use the talented people" - Finishing the mechanism of recruiting, planning, and appointing under the direction of openness and transparency to ensure the right person for the right job Increasing gradually forms of recruitment for management positions 3.3.3 Solution of the healthy in financial situation - Improving continuously financial capacity, restructuring income by increasing the proportion of income from activities, beside the traditional banking activities Strengthening the role of management accounting and management information system for the executive management - Basing on the results of achieved debt settlement, Vietcombank Vinh branch branch will continue to promote the improvement of the quality of credit activities, introducing the paradigm of modern credit management, applying debt classification and deducting DPRR according to international standards to ensure the sound financial situation in accordance with international standards 3.3.4 Solution of information technology applications - Vietcombank constantly upgrades technology systems to ensure the development of banks in depth, ensuring that technology always support maximum the mission of maintaining its leading position in banking technology application in Vietnam - Enhancing the safety, security, being always ready to meet the system and coupled with establishment of preventive mechanism 63 STRATEGIC MANAGEMENT Group - GAMBA01.V03 - Early constructing the system that provides management information to effectively support the management decision - Currently, the transmission system has not been good leading to that the system sometimes performs slowly In the future, the transmission system must be modernized to ensure smooth and fast operation to serve customers better - For the staff working in information technology, the bank needs to worthily recruit and treat for them to have the peace of mind and focus on searching and applying information technology in operating the bank better 3.3.5 Cultural Vietcombank Building Culture of the organization is considered to be a perception only existing in an organization, not an individual Thus, individuals who have different cultural background, lifestyles, and perceptions and work in different positions in an organization tend to show that organizational culture in the same way or at least having a common denominator Vietcombank's business culture is reflected very clearly in the upside Those are what people, customers, visitors can see through the logo, slogan, brochure, card visit, said cover, staff uniforms, decoration, communication style of the staff VIETCOMBANK is appreciated by the polite and professional style in working of the staff, being ready to serve customers, giving customers the most comfortable On the other side, the business culture is created by the virtue of discipline, honesty, diligence and creativity of all employees in the business Behaviors to communicate with superiors, subordinates are like in a big family Therefore, Vietcombank’s business culture has been appreciated by many economy magazines Currently, Vietcombank has built a culture handbook of Vietcombank issued for the entire system Generally, Vietcombank cultural handbook issues fully featured basic elements of culture of an organization However, the application of the culture handbook to come to life and work of each staff is not easy Vietcombank Vinh branch branch must constantly study, test and evaluate the staff in implementing the contents that cultural handbook issued This must be regarded 64 STRATEGIC MANAGEMENT Group - GAMBA01.V03 as one of the targets evaluating the work done by the staff in Vietcombank Vinh branch branch 65 STRATEGIC MANAGEMENT Group - GAMBA01.V03 CONCLUSION In integration and opening trend today, especially when Vietnam joins WTO, Vietnam economy in general and banking sector in particular are enjoining enormous benefits However, we are facing with big difficulties and challenges In banking sector, competition has taken place within domestic banks before, is now facing with competitive globalization trend in which, foreign banks with strong financial potential, modern techonology, advanced qualified humam resource, dominant technique will be huge obstacles to domestic banks to overcome Therefore, it is emergent need for Vietnam banks to quickly renovation technology, improve financial capacity, provide more training for qualified human resources, develop banking network to expand market share and enhance competitive capacity For these, every bank must build themselves a suitable business strategy to survive and develop Based on strategic management theories and strategy development process in Chapter I, combining with judgement and assessment analysis about real situations, detailed characteristics of Vietcombank Vinh branch including internal and external factors impacting on business strategies development in Chapter II and resolutions for those strategies in Chapter III This Capstone Project is result of our group efforts but shortcoming is unavoidable We would like to receive contributing ideas, guidelines from teachers, scientists, colleges and those interested to supplement and complete higher quality writing as well as improve feasibility of the project in practical application 66 STRATEGIC MANAGEMENT Group - GAMBA01.V03 REFERENCES Strategic Managemetn textbook of MBA Program, Griggs University MBA in hand topic marketing (Charles D Schewe Alexander Watson Hiam) Newcomers training document (Retail bank) VietcomBank Vietcombank culture handbook Associate Prof.PhD Nguyen Thi Lien Diep and MBA Pham Van Nam (2006), Business policy and strategy, Social – labor publishing house, Ho Chi Minh City Associate Prof.PhD Le The Gioi- PhD Nguyen Thanh Liem- MBA Tran Huu Hai (2009), Strategic Management, Statistic publishing house, Ha Noi Fredr.David (2006), Strategic Management Outline, Statistics Publishing House, Ha Noi Operating summary report of Vietcombak – Vinh branch 2008, 2009 and 2010 Report on tasks implementation of commercial banks in the area in 2010 of Nghe An Province State Bank 10 Vietnam Bank Association (December, 2006), commitmemts of Vietnam and Vietnam Bank when enter WTO 11 Decision No.112/2006/QD-TTg on 24/05/2006 of Prime Minister on Vietnam banking development project approval until 2010 and orientation for 2020 12 Vietnam economics news on 2nd June, 2008 13 Website:www.VietcomBank.com.vn;www.sbv.gov.vn;www.mof.gov.vn; www.moit.gov.vn; www.vneconomy.com.vn 67 ... environment of Vietcombank Vinh branch Chapter III: Selection of strategies and strategies measures at Vietcombank Vinh branch in the period of 2011-2020 STRATEGIC MANAGEMENT Group - GAMBA01.V03 CHAPTER... QSMP matrix 22 STRATEGIC MANAGEMENT Group - GAMBA01.V03 CHAPTER II ANALYSIS OF BUSINESS ENVIRONMENT OF VIETCOMBANK VINH BRANCH 2.1 Introduction of Vietcombank Vinh branch 2.1.1 Establishment and... substitution product/service instead of VIETCOMBANK and other banks is great 2.2.2.4 Bargaining power of suppliers 36 STRATEGIC MANAGEMENT Group - GAMBA01.V03 Vietcombank Vinh branch branch mobilizes capital