Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (152)

GRIGGS UNIVERSITY Global Advanced Master of Business Administration CAPSTONE REPORT BUSINESS STRATEGY DEVELOPMENT OF MANGANESE MINERAL JOINT STOCK COMPANY PERIOD 2011 - 2020 Group: Members: Phan NguyÔn Quèc Khánh (Group Leader) Bùi Văn Minh Võ Văn Hải Hoàng Quốc Trờng NGHE AN, 2011 Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 ACKNOWLEDGEMENTS In the process of completing this capstone project, we would like to express our sincere thank to our lectures of Global Advanced Master of Business Administration – ETC – VNU and Griggs University for not only the valuable knowledge but also the mental support they have provided us during the past period We would like to express our gratitude to the Management Board and other executives of Manganese Mineral Joint Stock Company and its parent company – Ha Tinh Mineral and Trading Corporation for supporting us as well as providing us with useful comments during the process of completing this project Due to the limitations of time and our knowledge, it is inevitable that our report - “Business Strategy Formulation of Manganese Joint Stock Company for 2011 – 2020” may have some limitations We hope to continuously receive support and advice from our lectures of Global Advanced Master of Business Administration –ETC – VNU and Griggs University as well as the Management Board and other executives of Ha Tinh Mineral and Trading Corporation ; Manganese Mineral Joint Stock Company; sothat we can improve our captone report Best Regards and Many Thanks! Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 1/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 TABLE OF CONTENTS CONTENTS Page COVER ADKNOWLEDGEMENT TABLE OF CONTENTS ABBREVIATIONS LIST OF TABLES INTRODUCTION The importance of the research 7 The aim of the research Objectives and the scope of the research The methods of the research The structure of the research Chapter 1: THEORETICAL FORMULATION FOUNDATION OF STRATEGY 1.1 Basic concepts of business strategy 1.2 Strategic levels of the business 1.2.1 Corporate strategy 1.2.2 Competitive strategies 1.2.3 Functional strategies 10 1.3 Strategy developing process Chapter 2: OVERVIEW ENVIRONMENT IN 10 AND MAGANESE ANALYSIS MINERAL OF BUSINESS JOINT STOCK COMPANY 2.1 Overview: 2.2 Analysis of the Manganese Mineral Joint Stock Company’s business environment 2.2.1 Macroeconomic analysis: 15 18 18 Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 2/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Economic Factors Political and Legal Factors Technological Factors Socio-cultural Factors Natural Factors 2.2.2 Analysis of MMC’s industry environment Bargaining Power of customers Bargaining Power of suppliers Competitive rivalry among existing firms Threat of new entraints Substitute Products 2.3 MMC’s Internal Analysis 2.3.1 Resources Analysis Human Resource Finance Facilities Technology and Equipments 2.3.2 MMC’s management capacity assessment 2.3.3 MMC’s brand name assessment 2.4 MMC’s core business analysis (Investment Porfolio) 2.5 Building SWOT matrix 2.6 Building Internal - External factor matrix of MMC’s business lines 21 23 23 29 29 30 33 36 Chapter 3: DEVELOPING A BUSINESS STRATEGY FOR MANGANESE MINERAL JOINT STOCK COMPANY PERIOD: 2011 - 2020 3.1 Strategy Selection: 3.2 MMC’s vision, mission and strategic objectives: 3.2.1 MMC’s vision to 2020 3.2.2 MMC’s mission statement 3.2.3 MMC’s strategic objectives 3.3 Solutions to implement the strategy in period 2011 – 2020 3.3.1 Restructuring the company 3.3.2 Restructuring the proportion of products 3.3.3 Developing high quality human resource 3.3.4 Building effective information management system 3.3.5 Developing brand name and building corporate culture Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 3/ 53 - 41 43 43 43 43 44 45 45 46 47 48 Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 3.3.6 Building standard operating procedure 3.4 Limitations of the research and research orientation in the future CONCLUSIONS REFERENCES Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 4/ 53 - 49 50 52 53 Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 ABBREVIATIONS ABB EBIT EFE IFE IE MGR MMC RMS SWOT MEANING Earnings before interest and taxes External Factor Evaluation Internal Factor Evaluation Internal – External Matrix Market Growing Rate Manganese Mineral Joint Stock Company Relative Market Share SWOT Matrix LIST OF TABLES Table Contents Page Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 5/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Table: 2.01 Table: 2.02 Table: 2.03 Table: 2.04 Table: 2.05 Table: 2.06 Table: 2.07 Table: 2.08 Table: 2.09 Table: 2.10 Table: 2.11 Table: 2.12 Table: 3.01 Table: 3.02 Summary of opportunities (O) and threats (T) MMC’s productivity index compared with the average level of sectors in 2009 Operating results during years ( Unit: Dong) Balance sheet on September 31th (Unit: Dong) Financial Index Analysis Strength (S) and Weakness (W) Analysis MMC’s SWOT matrix Table of analyzed industries’ symbols Table of external factor evaluation (EFE) of exploitation and trade of unprocessed minerals (A) Table of external factor evaluation (EFE) of deep – processed products (B) Table of internal factor evaluation (IFE) of exploitation and trade of unprocessed minerals (A) Table of internal factor evaluation (IFE) of deep – processed products (B) Table of profit to sales ratios between unprocessed products and deep- processed products Table of estimated time, expenses and priority order in implementing strategic solutions over the period 2011 – 2020 Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 6/ 53 - 14 15 16 17 18 25 26 27 28 29 29 30 32 40 Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 INTRODUCTION The importance of the research In the competitive environment of the business community, some companies make the leap but others not This phenomenon has been observed and brought into question for years; and the answer seems to lie in the business strategy of a company To survive and rise to prominence, every company has to propose an appropriate business strategy that goes in line with the current trend of integration and the general development of the economy In other words, the future of an enterprise mainly depends on the management, the formation, and the implementation of a business strategy Manganese Mineral Joint Stock Company (MMC), a joint stock company that has been effectively operating in the last few years, is a subsidiary company of Ha Tinh Minerals and Trading Corporation However, its business environment has undergone major changes, putting significant pressure on its activities, thus leading to the reestablishment of its overall strategy Some tremendous pressure for MMC includes: First, the core business activity of MMC is mineral exploiting, whereas deposits of manganese and iron ore in Ha Tinh, its main area of exploitation, have been worryingly exhausted If no immediate measures are taken, MMC may experience difficulties in doing business from this point onwards Second, changes made by the state in natural resources management in the legal system have regulated that the grant of mineral mines to individuals and organizations shall be replaced with the introduction of bidding for the exploitation of mines in the upcoming years That has imposed considerable pressure on MMC Third, the vigorous growth of the economy in Vietnam in general and in Ha Tinh in particular, along with the economic cooperation with neighboring countries like Laos, Thailand, China, and other nations have brought about both opportunities and challenges for businesses based in Hanoi, including MMC in Ha Tinh Under the circumstances, MMC not only needs to focus on strategic measures, but also has to pay due attention to building, implementing, and controlling its Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 7/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 long-term strategy in order to maintain its growth rate, take advantage of its opportunities and strengths accordingly to the existing economic and legal environment and Mitraco’s assistance in decision-making process Therefore, it is advisable that MMC build and apply its overall strategy for the period 2011-2020 based on Mitraco’s development strategy so as to maintain its position and put stable stepping stones for the future The aim of the research The goal of this thesis is to formulate a business strategy for MMC with a view to answering two key questions: (i) how MMC should transform in order to sustain its growth rate as core business activity is narrowed down and (ii) how to achieve the maximum capacity in business Objectives and the scope of the research To evaluate the business activity of the enterprise To identify activities that it will maintain, apply, or eliminate, if any To define and assess strategic choices and necessary measures to sustain or expand its strategic business activities The methods of the research To this research, we use popular research methods in economic research such as analytical, synthetic, statistical, and comparison-and-contrast methods Others include macroeconomic analysis, industry analysis and business analysis In addition, SWOT and IE matrixes are built, then MMC’s strategy is formulated The structure of the research This research is divided into three chapters: Chapter I: Theoretical foundation of strategy formulation Chapter II: Overview and analysis of MMC’s business environment Chapter III: Developing a business strategy for MMC – Period 2011-2020 CHAPTER I: THEORETICAL FOUNDATION FORMULATION OF STRATEGY Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 8/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 1.1 Basic concepts of business strategy One of the most popular concepts of business strategy is one by Chandler: “the determination of the basic long-term goals and the objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals” Alain Threlart acclaims that “Strategy is an art which the enterprise use to fight against competition and win” Indeed, a business strategy help enterprises define clear goals and plans so that it can make the most of its resources and opportunities, thus giving it a competitive edge over other counterparts Also, businesses can broaden its vision and take precise actions when it comes to challenges and threats in a competitive environment, therefore nourishing its sustainability 1.2 Strategic levels of the business Every company has numerous different strategies in respect to their organization structures, varying periods and specific goals 1.2.1 Corporate strategy Development strategies  Segmentation growth strategies: Market- infiltration strategy; Market development strategy; Product development strategy  Integrative growth strategies: Merger strategy; Acquisition strategy; Strategic alliance strategy; Diversification strategy; Concentric diversification strategy; Horizontal diversification strategy; Mixed diversification strategy Stability strategies Exit strategies 1.2.2 Competitive strategies There are three fundamental competitive strategies: cost leadership, differentiation, and segmentation strategy 1.2.3 Functional strategies Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 9/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Policy 0.20 0.80 Business environment 0.25 0.50 Consumption possibility 0.20 0.80 Competition level 0.15 0.3 Technology development 0.25 0.5 Total 1.00 2.9 (Source: studied and evaluated by the group)  Comment: The ability to react to external environment of B products is above the average 2.6.2 Internal factor evaluation (IFE) Based on the internal environment analysis and the current status of MMC’s product lines, our group set up a, internal factor evaluation (IFE) table of MMC’s business lines as followed: Table of internal factor evaluation (IFE) of exploitation and trade of unprocessed minerals (A) Table 11 No Internal environment Weights Ratings factors Total marks Staffs and workers’ 0.30 capabilities Financial capabilities 3 0.90 0.20 0.80 Control system 0.15 0.30 Equipment and machinery 0.15 0.45 Compensation policy 0.20 0.40 Total 1.00 (Source: studied and evaluated by the group) Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 39/ 53 - 2.85 Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03  Comment: Product A’s capability of MMC is above the average Table of internal factor evaluation (IFE) of deep – processed products (B) Table 2.12 No Internal environment factors Weights Ratings Total marks Staffs and workers’ capabilities 0.25 0.50 Financial capabilities 0.20 0.80 Management information 0.15 0.30 Marketing 0.20 0.40 Compensation policy 0.20 0.60 Total 1.00 2.60 (Source: studied and evaluated by the group)  Comment: Product B’s capability of MMC is on the average 2.6.3 Internal – External matrix Based on the external factor evaluation (EFE) table and internal factor evaluation (IFE) table, we have Internal – External matrix as followed: Internal – External Matrix of business lines Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 40/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Internal Factor Evaluation (IFE) of products High Weak i Moderate ii External Factor Evaluation (EFE) of products iii B 2.95 A 2.9 iv vii v viii vi ix  Strategic Orientation: From IF Matrix we can see that MMC should: - Should hold and maintain exploitation and trading of (A) crude minerals; may extend the exploitation to farther areas Should hold and invest in deep – processed products to increase the added value for each unit of product Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 41/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 CHAPTER 3: DEVELOPING A BUSINESS STRATEGY FOR MANGANESE MINERAL JOINT STOCK COMPANY PERIOD: 2011 - 2020 3.1 Strategy Selection: The way for MMC to have sustainable development is that MMC has to gradually convert its core competences, from crude mineral mining to deep – processing line In – years, MMC will have to form a new core competence in order to replace step by step the crude and unprocessed mineral mining and trading field by deep – processed production, ensuring the long term development of MMC The route of MMC’s core competence transformation is proposed as followed: Table of profit to sales ratios between unprocessed products and deep- processed products Table 3.01 Year Unprocessed products Deep – processed products 2013 25% 75% 2015 20% 80% 2017 18% 82% 2020 15% 85% Manganese ore mining and exporting are the traditional business activities generating the major revenues and profits for MMC over the past years Our group believes that these will not the key operating field of the company in coming years because of some following reasons:  Manganese mining in Ha Tinh cannot be long- lasting due to the limits of resources and reserves  To carry on Manganese mining activities, MMC needs to find the resources from other provinces, which is very difficult, requiring MMC to have the specific solutions and schedules Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 42/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03  The regulations of the State require the Manganese exploitation to accompany with the implementation of deep –processing projects for Manganese products like Fero Manganese or electrolyzed Manganese to ensure the export conditions However, it is very difficult for MMC to establish a electrolyzed Manganese plant which needs both capital and technology Therefore, we recommend that it is not advisable to consider crude Manganese mineral mining and exporting the key business of MMC in the long run, but the exploitation mainly is used to develop the deep – processing of Manganese products At the same time, there should be a comprehensive review on the current Manganese mining and processing In our opinions, investing in Manganese deep – processing project (Fero Manganese factory) should be considered as the top priority During this time, MMC needs to get started right away to carefully research the mining resources, market, technology, technology transfer partners, and evaluate the capital capability, profitability of the project before making the final investment decision From above analysis, we choose MMC’s strategy: “Business strategy: moving progressively from commercial exploitation of unprocessed Manganese mineral to deep – processing of Manganese products”, continuing to supplement and make investments in exploration of new mineral mines which provide new opportunities and are close to the company’s core competences Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 43/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 3.2 MMC’s vision, mission and strategic objectives: 3.2.1 MMC’s vision to 2020: “Becoming one of the leading companies in exploiting, deep – processing Manganese ore and other minerals, serving the steel industry in the Central Region both on scale and business efficiency, positioning Fero Manganese to be the key product creating the sustainable development associated with the steel industry development of Central Region.” 3.2.2 MMC’s mission statement: “Being the major contributor to the economic – social development of Ha Tinh province, Central Region and the entire country Being continuously creative, striving to create high quality products with reasonable prices Implementing satisfactory compensation policies in terms of both material and spirit in order to encourage staff to generate more new values for shareholders specifically and the whole society generally” 3.2.3 MMC’s strategic objectives MMC’s vision and missions are converted into strategic objectives specified for coming period as followed:  Maintain the positive business results in the short term From now to 2015, mineral mining and processing continue their key role in generating revenues and profits for MMC  Concentrate resources to establish electrolyzed Manganese factory which will create sustainable and long term development for MMC  Develop and implement strategies for recruitment and traning to improve the quality of staff, especially mid-level ones and seniors  Develop the management information system Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 44/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 3.3 Solutions to implement the strategy in period 2011 – 2020 3.3.1 Restructuring the company Execution time: in year 2011 Goals: The Company should be restructured to meet the development needs and to be in line with the internal and external environment; clearly define its role and position in the whole Corporation, the relationship between the parent companies, subsidiaries and unit members Implementation directions: a The principle of modern corporate governance should be introduced and applied within the company Principles of honesty, loyalty, cautiousness will be throughout basis for administration work b Building professional machinery assisting Directors and Board of the company - The organizational structure of the company should have parts capable of processing information efficiently, facilitating the smooth flow of information, helping the leaders to make as quick decisions as possible - Directors and Board of the company should have professional assisting machinery Therefore, they need to review the whole department system under the direction of sizing and professionalization Some key departments should be rearranged and supplemented with suitably professional skills: Finance – Accounting, Sales; Technical Department restructured into Research and Development (R&D) These functional departments are under the direct management of the Directors The Research – Development department is in charge of: Supporting technically the exploiting plants and deep – processing factories; Counseling the technology improvements, assessing technical feasibility of projects that Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 45/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 the company contributes capital into; conducting researches and implementing the technological improvements in plants and factories 3.3.2 Restructuring the proportion of products Execution time: 2011 – 2015 Goal: Shifting progressively from crude product business to deep – processed product one in order to increase added values for each unit of products and ensure the sustainability of the company even when the resources run out Implementation directions: Together with exploring new mineral mines, restructuring, investing in Fero Manganese factory producing the key products and heading to the new development of the company in short run, the company should consider the mineral, especially Manganese, deep processing field to be the strategic one with the sustainable development potential, making it the core business line of MMC in long run Nevertheless, the development of this sector is limited; therefore, transition to other ones is required The capital and profits generated from mineral mining should be invested wisely to prepare MMC itself for a new development period when revenue from minerals declines and Ha Tinh’s economy reaches the new level of growth with new business opportunities A big question raised is in the long term, what the core business of MMC is and beside minerals, which will become the backbone of it in the near future Apparently, this new core line should be based on some certain criteria:  Decision criteria: MMC’s comparative advantages (relative and absolute) in terms of technology, equipments, management capability, geographical proximity to and understanding of local markets, strong relationship with the local government Not going too far from the existing core competences Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 46/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 - Having potential of sustainable and long – term development, consistent with economic development requirements in Ha Tinh, other neighbor provinces and the whole country Complying with the financial and capital capacity Having a link with current – employed business lines of MMC  Selected sector: Production of metallurgical additives: Vung Ang Economic Zone can be the largest steel producing center in the near future, which leads to the high demand of metallurgical additives Therefore, MMC needs a clear investment plan to be the pioneer in this sector 3.3.3 Developing high quality human resource Execution time: 2011- 2013 Goals: To cater for the company restructuring as well as ensure the capacity of entering new business sectors; increase productivity; involve in operating activities generating more added values It is also crucial to focus on improving staffs and workers’ quality Human resource development strategy has to be able to deal with these problems: - Restructuring proportion of company’ s labors Specializing, enhancing the professionalism in implementing work - Developing a compensation system tied to job performance Motivating employees to be active in operating activities, raising revenues and profits for the company Focusing on training management and technical staff Implementation directions: Human resource recruitment and training should be conducted in a way of “training and recruiting based on the capability framework” which is accomplished through following steps: Step 1: Identify the functions and responsibilities of all job titles, starting from company leaders’ Step 2: Determine the capability framework for each job title Step 3: Determine the specific measures for each capability Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 47/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 - Step 4: Evaluate the capability of persons currently holding the job titles This should based on many information sources: + Self – evaluation from persons currently holding jobs + Evaluation from their direct supervisors + Evaluation from their colleagues or people having working relationship with them Step 5: Identify “capability gaps” This step involves the comparison between the “capability requirements” and “actual capability” to determine the “capability gaps” of each individual Basically, this “capability gaps” is the recruitment and training demand Step 6: Construct plans for recruitment and training In principle, this process should be in charge by MMC’s Human Resource Department However, it is advisable for the company to hire outside consultants to help implement it 3.3.4 Building effective information management system: Execution time: 2011 Goal: It is very difficult to ensure effectiveness of strategic management if there is a lack of fully collected and analyzed information Transparency of management information will enhance responsibility as well as the management effectiveness Implementation direction The building of information system can be conducted together with the company restructuring This process requires the reconstruction of accounting system, financial and business operating reports on the purpose of assuring the ability to provide accurate, complete, reliable and objective information This system should be built on the basis of modern technology application 3.3.5 Developing brand name and building corporate culture Execution time: 2011 – 2015 and ongoing Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 48/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Goal: Along with restructuring the company and determining the medium and long – term core business lines, building an MMC brand name to reflect its vision, business, services and products should be considered a work needing to be executed With a strong, prestigious brand name, MMC will have advantage in entering the new markets, as well as sending a clear message about the image of MMC Implementation direction: After restructuring, one of the key tasks of the company office is constructing and promoting the image, brand name and business culture of the company, thus a Marketing Department should be established During the process of developing the brand name, it is the company’s duty to demonstrate principles of corporate culture, exercise social responsibilities and protect environment The disclosure and strictly following policies of these will contribute to building a strong and friendly brand name in customers and partners’ minds The establishment of a unique corporate culture of MMC will also mount the contributions of personnel and employees of the company Together with the adjustment in the compensation system, a strong corporate culture can become the foundation to enhance the staff and workers’ productivity and creativity in the entire company 3.3.6 Building standard operating procedure: Execution time: in 2011 Contents: Perfecting the internal legal system of the company to increase the management efficiency and improve the business results The included documents are: - Specific assessing criteria for each type of jobs - Compensation and punishment policies (based on the above criteria) Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 49/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 - Regulations on financing and decentralization of spending - decisions Regulations on working and reporting Regulations on reporting implementation results of the Board and - the General Assembly of shareholders’ resolutions Regulations on internal inspection and audit Table of estimated time, expenses and priority order in implementing strategic solutions over the period 2011 – 2020 Table 3.02 No Solutions Execution time Constructing of standard operating procedure Restructuring the company Developing high quality human resource Constructing an effective management information 2011 2011 – 2011 2011 - 2013 2011 - 2011 system Restructuring business lines and investment portfolio 2011 - 2011, a In medium and long term b In long term Developing the brand name and corporate culture reviewing in 2014 or 2015 2011 – 2017 2011 - 2013 and ongoing 3.4 Limitations of the research and research orientation in the future 3.4.1 Limitations of the research a, The time of the research: The time for the research is limited, whereas MMC is operating its business in many areas of the province; therefore, the research may not deeply developed and the evaluation can be insufficient Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 50/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 b, The scope of the research: In the scope of the capstone project, we only focus on developing general business strategy (corporate – level strategy); therefore the evaluation of each business is not deeply focused c, Strategic development experience and skills: Although during the MBA course and the process of completing this project, the group has received valuable knowledge and kind support from the lecturers of the program; due to our limited experience, it is inevitable that the project may be subjective or may have some limitations d, Implementation ability of the company: This general strategy includes many solutions that have to be implemented based on the planned route Whereas, the human resource of MMC is not sufficient to effectively implement the strategy and the established objectives MNC should come up with good solutions to implement, evaluate and adjust its strategy Besides, MNC should hire a consultancy organization to formulate competitive strategies for each SBU; develop strategies for human resource development and training, strategies for additional investment and new business investment 3.4.2 Research Orientation in the future - Continue to formulate product development and business expansion strategies for MMC - Develop functional strategies, especially human resource training and development strategy, Marketing strategy, investment strategy Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 51/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 CONCLUSIONS The business environment has become increasingly competitive due to the rapid development of science and technology as well as international economic integration In order to operate stably and develop sustainably in the today’s business environment, the company should take advantage of its internal strengths, reduce weaknesses, take opportunities, avoid threats; at the same time create its own competitive advantages Moreover, the company should select an appropriate business for its operation as well as manage the investment porfolio effectively In order to carry out the management activities effectively, the company’s managers should develop, continuously adjust and complete appropriate business strategies in the mid-term and long-term period At the same time, through the business strategy, the company implements scientific action plans, anticipate potential opportunities and threats in order to find the appropriate solutions Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 52/ 53 - Griggs University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 REFERENCES Ass.Prof.Ph.D Le The Gioi, Ph.D Nguyen Thanh Liem, M.Sc Tran Huu Hai (2009), - “Strategic Management”, Statistic Publishing House Ass.Prof.Ph.D Nguyen Thi Lien Diep, M.Sc Pham Van Nam (2006), “Strategies and Relevan Policies”, Lao dong – Xa hoi Publishing House, HCM City Ass.Prof.Ph.D Ngo Kim Thanh, Ass.Prof.Ph.D Le Van Tam (2009), “Strategic Management”, National Economics University Publishing House Ass.Prof.Ph.D Ngo Kim Thanh “Business Strategy”, text book for Strategic Management Course, Global Advanced Master of Business Administration Manganese Mineral Joint Stock Company: Financial Report 2008, 2009, 2010; Company’s organizing and operating regulations, policies, processes and other relevant documentary Course materials – Strategic Management - Global Advanced Master of Business Administration Course materials – Marketing Management - Global Advanced Master of Business Administration Course materials – Human Resource Management - Global Advanced Master of Business Administration Course materials – Corporate Finance - Global Advanced Master of Business Administration Business Strategy Development of Manganes Mineral Joint Stock Company – Period 2011 – 2020 - 53/ 53 - ... University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 ACKNOWLEDGEMENTS In the process of completing this capstone project, we would like to... University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 TABLE OF CONTENTS CONTENTS Page COVER ADKNOWLEDGEMENT TABLE OF CONTENTS ABBREVIATIONS... University Global Advanced Master of Business Administration Capstone project peport - Group: - Class: GAMBA 01.V03 Economic Factors Political and Legal Factors Technological Factors Socio-cultural Factors