Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (191)

ACKNOWLEDGEMENTS We would like to send our most sincere thanks to our professors, doctors of the Masters Program in International Business Administration (MBA) by Griggs University collaboration with ETC They have dedicated teaching and guiding us during the training process This knowledge is the foundation to assist us in developing this topic and then it can apply in practical work Especially, we sincerely thank the Academic Council of Griggs University, for guiding us in the process of conducting research We would like to thank Petro Vietnam Construction Joint Stock Corporation for supporting and allowing our group to study the Corporation and providing enthusiastically data for us to complete the task ` Hanoi, December 2010 Group 4: Trinh Van Dien (Group Leader) Trinh Van Thao Pham Van Hiep Hoang Trung Hung Group No.4 - GaMBA01.X03 Strategic Management COMMITMENT We, Group - Class MBA01-X03, declare that this topic: “Business strategy formulation of Petro Vietnam Contraction Joint Stock Corporation in period 20112015” is the subject of research by our group The Corporation related data includes the data provided by the corporation itself, the prospectus filed with the State Securities Commission, data of public companies registered with the State Securities Commission, and other data compiled from the stock markets Up to the present time, we believe the first topic study at the first time None of our group members has any conflict of interest to the Corporations in the report Hanoi, December 2010 Group 4: Trinh Van Dien (Group Leader) Trinh Van Thao Pham Van Hiep Hoang Trung Hung ` Group No.4 - GaMBA01.X03 Strategic Management TABLE OF CONTENTS CAPSTONE PROJECT REPORT BUSINESS - STRATEGY FORMULATION OF PETRO VIETNAM CONSTRUCTION JOINT STOCK CORPORATION (PVC) IN PERIOD 2011 – 2015 Page COVER ACKNOWLEDGEMENTS COMMITMENT TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURE, LIST OF ACRONYMS AND ABBREVIATIONS FORDWORD CHAPTER I: THEORY OF COMPANY’S BUSINESS STRATEGY FORMULATION 1.1 Overview about company strategy 1.1.1 Definitions and roles of strategy 1.1.2 Processing of strategic formulation 1.2 Generic Business Strategies 1.2.1 Overall cost leadership strategy 1.2.2 Differentiation strategy 1.2.3 Focus strategy 9 9 10 10 12 13 1.2.4 Note of strategy selection 1.3 Processing of business strategic formulation 1.3.1 Analysis for company internal factors 1.3.1.1 Mission, vision, and core valuation 1.3.1.2 Analysis for current strategy 1.3.1.3 Natural analysis for competitive benefits 1.3.2 Analysis for company external factors 1.3.2.1 Analysis for macro- economic environment 1.3.2.2 Analysis for industrial environment 1.3.2.3 Competitor Analysis 1.4 Tools of business strategic formulation 1.4.1 Matrix SWOT 13 14 14 15 15 16 18 18 18 18 22 22 Group No.4 - GaMBA01.X03 Strategic Management 1.4.2 Matrix EFE, IFE, IE 1.4.2.1 Matrix EFE 1.4.2.2 Matrix IFE 1.4.2.3 Matrix IE CHAPTER II: ANALYSIS FOR PVC’S BUSINESS STRATEGIES 2.1 Company Introduction 2.1.1 General Information 2.1.2 Structure of PVC’ stockholders, organizations and controls 2.1.3 Products and services of PVC 2.2 Analysis for factors internal to PVC 2.2.1 Mission, vision and core valuation of PVC 2.2.2 Review for operational conditions of PVC in 2007, 2008, and 2009 2.2.3 Planning and forecasting 2.2.4 Decision making for target markets 2.2.5 Analysis for Core Capabilities 2.3 Analysis for company external factors 2.3.1 Analysis for macro - economic environment 2.3.2 Analysis for industrial environment 2.3.3 Competitor Analysis 2.4 Overall Results of PVC by SWOT Model CHAPTER III: CHOOSING FOR BUSINESS STRATEGIES AND SOLUTIONS FOR PVC’ BUSINESS STRATEGIC FORMULATIONS IN PRIOD 2011 - 2015 3.1 Choosing to business strategies for PVC 3.1.1 Analysis for combined table of SWOT 3.1.2 Analysis for Matrix EFE, IFE, IE 3.1.3 Choosing for PVC’ business strategies 3.2 Some solutions for business strategic formulations of PVC 3.3 Implemental Roadmap 3.4 Limitations of risks and researches CONCLUSIONS REFERENCES INDEX LIST OF TABLES 22 23 24 25 27 27 27 30 30 32 32 33 42 45 47 49 49 50 53 60 63 63 63 64 66 69 72 74 75 78 79 Group No.4 - GaMBA01.X03 Strategic Management Table 1-1: Source of sustainable competition 17 Table 1-2: General table of Competitor Analysis 21 Table 1-3: SWOT Analysis sheet 22 Table 1-4: EFE Matrix 23 Table 1-5: IFE Matrix 24 Table 1-6: IE Matrix 25 Table 2-1: Some typical projects which PVC has been implementing over the past years 31 Table -2: The Common - size Balance Sheet of PVC of 2007 – 2010: 33 Table 2- 3: The Income Statement Report of PVC in period of 2007 – 2010: 37 Table 2-4: profitability and growth ratios 39 Table 2-5: Ratios for asset usage assessment 40 Table 2-6: Solvency ratios 40 Table 2-7: Solutions for markets 47 Table 2-8: Source of sustainable competition 48 Table – 9: material vendors 49 Table 2-10A Analysis of competitors – Reviews Objectives 53 Table 2-10B Analysis of competitors – Reviews Assumptions 55 Table 2-10C Analysis of competitors – Reviews Current Strategy 56 Table 2-10D Analysis of competitors - Reviews Capacities 58 Table 2-10E Analysis of competitors - Evaluate the ability to attack or defend 59 Table 2-11 SWOT table of PVC 60 Table 3-1: EFE Matrix valuates the PVC response capacity to outside 64 Table 3-2: Evaluation on capacity of understanding of the internal environment 65 Table 3-3: Selection of Business Strategy 67 Table 3-4: Applicable Strategy and Market 68 Table 3-5: Roadmap for Strategy Implementation 73 Group No.4 - GaMBA01.X03 Strategic Management LIST OF FIGURE Figure 1-1: Strategy Making Procedure 10 Figure 1-2: Business strategy 11 Figure 1-3: Forces Driving Industry Competition 19 Figure 1-4: The analysis part of the competition 20 Figure 2-1: Organizational structure of PVC 28 Figure 3-1: IE Matrix 66 LIST OF ACRONYMS AND ABBREVIATIONS GRIGGS or Griggs University .Griggs University, USA VNU-Hanoi .National University of Hanoi, Vietnam PVC Petro Vietnam Construction Joint stock Cooperation PVN………………………………………………… Vietnam Oil and Gas Group SWOT Model of competitiveness analysis (Strengths, Weaknesses, Opportunities and Threats) Group No.4 - GaMBA01.X03 Strategic Management FORDWORD Why we choose the topic In the stock market, among many stocks, investors have chosen to invest in the group of Petro family stocks since 2007 It has become one of the notable events in the stock markets Moreover, it is necessary to study and subsequently provide a report on the business strategy of the enterprise In addition, our group has two members working at the manager position in the Petro Vietnam construction Joint Stock Corporation Our group reaches the consensus to study the topic: “Business strategy formulation of Petro Vietnam Construction Joint Stock Corporation in period 2011 – 2015” with the desire of the knowledge application to improve individual capacity and to contribute to the sustainable development of the corporation Research objectives and Research applicability: - To understand the system of theoretical issues on strategy; - To analyze and assess the business situation in the Corporation within the context of the current Vietnamese economy; - To recommend some strategic solutions to the Corporation during the period 2011 – 2015; - To assist the Corporation in identifying its position in the market, therefore it could produce plans to develop and implement other strategies for the cause of sustainable development Object and scope of research - Object is corporate business strategy - Scope of research is within the framework of training programs and the Vietnamese markets Research methods Major data sources come from the prospectus, annual reports of the Corporation and other companies in the industry, and data on public companies in the markets The research methods include literature reviews on materials in local Group No.4 - GaMBA01.X03 Strategic Management and international, site visit and study at the actual companies, collection of the data resources at the company, and reference of expert opinions on PVC Expected Results - To increase the knowledge yourself/group management strategies in the current environment; - To assist the Corporation in recognizing its current position related to the company's competitive environment; - To identify and determine the relationship with the Corporation's stakeholders - To develop, as the result, a comprehensive strategy and implementation for competitiveness, shareholders’ values and profits increase at the higher level than average The layout of this topic: Besides the introduction and conclusion, the main content of the topic consists of three parts: Chapter I: Theory of an enterprise business strategic formulation Chapter II: Current business strategy analysis for PVC Chapter III: Choosing for business strategies and Solutions for PVC’ business strategic formulations in period 2011 – 2015 Group No.4 - GaMBA01.X03 Strategic Management CHAPTER I: THEORY OF COMPANY’S BUSINESS STRATEGY FORMULATION 1.1 Overview about company strategy 1.1.1 Definitions and roles of strategy 1.1.1.1 What is a strategy? In general, when running a business, each enterprise shall develop its own strategy If an enterprise has a clear strategy and everyone in the enterprise understands well this strategy, then it should achieve success in the markets In contrast, an enterprise that does not have a clear strategy, soon or later, it could fail in the markets Hence, what is a strategy? Simply, a strategy is a gather of plans, methods, and objectives to gain higher profits than the average or to provide competitive advantages to an enterprise So far, there are several opinions on strategies For example, there are opinions of Alain Threlart, M.E Porter, G Arlleret, and D.Bizrell However, they all revolve around the main content as: “Strategy is work of art”, Strategy is a special plan, or Strategy is both plan and work of art In summary, strategies built should assist the enterprise in gaining expected objectives However, development and making decisions on objective based strategy are not sufficient; the strategy should lay out implementation roadmap with detailed time and periods in connection with certain resources 1.1.2 Processing of strategic formulation Strategy developing procedure is series of activities, including analysis, assumptions, decisions and actions of an enterprise, which carried out to achieve strategic/sustainable competitive advantages with higher profits gained than the average Group No.4 - GaMBA01.X03 Strategic Management Functions, tasks and objectives of strategy of an enterprise (1) Analysis of Internal Enterprise (S, W) (3) Analysis of Business Environment (O, T) (2) Strategy Choices (4) Company Level Strategy (5) Business unit level and Functional Division level Strategy Strategy Implementation (6) Checking & Assessment of Business performance (7) Feedback Figure 1-1: Strategy Making Procedure (Source: the lecture on Strategic Management – International MBA Training Program – Ngo Kim Thanh, 2010) In generally, a strategy making procedure includes four (04) stages: Stage 1: To determine targets of enterprise by matrix SWOT Stage 2: To develop and choose appropriate strategy for the enterprise Stage 3: To implement strategy Stage 4: To check and to assess strategy implementation, to adjust strategy if necessary 1.2 Generic Business Strategies As mentioned above, strategy related to long-dated objective of enterprises These strategies already built have to help enterprise achieve stated objectives However, the business strategy relates to how a firm can compete successfully in a 10 Group No.4 - GaMBA01.X03 - Profits Strategic Management : 1,966,750 million - Quality and progress: meeting clients requirements (Source: Annual Report of PVC) 3.1.3 Strategy Plans From the results of SWOT matrix and IE matrix, we can have some observations as follows: PVC is an enterprise which has strengths in term of finance, trademark and good relationship with stakeholders However, there are some weak points in term of high prices, low effectiveness of assets usage and they result to not yet high business operation results PVC has seen the problems and gradually overcome the problems (the conversion point for IFE matrix of 3.28 remains very much high) PVC has not yet had detailed strategy in order to utilize opportunities and to limit outside challenges (point for EFE matrix is of 2.97 points) - PVC has known for development of view, mission and core value - PVC has chosen the target market - The market of Vietnam is the one with highly potential with industry Based on the above analysis, PVC will choose the growth strategy However, to determine the detailed business strategy for growth, the Group provides the following alternatives: - Alternative 1: Overall cost leadership Strategy - Alternative 2: Differentiation Strategy - Alternative 3: Focus and Overall cost leadership Strategy To make assessment on which alternative is the most effective, we can view the Table 3-3: Table 3-3: Selection of Business Strategy No Criteria Points ALT1 ALT ALT Trademark 20 11 16 18 Market share 20 11 10 15 Income 20 17 12 15 Profits 20 18 12 18 Sustainable Development 20 15 17 17 64 Group No.4 - GaMBA01.X03 Total 100 72 Strategic Management 67 83 After conducting careful research and consideration by Group 4, it is decided that the PVC strategy selection is “Focus and Overall cost leadership Strategy” With target market selected in the chapter II, the core value states in the Chapter II Hence, the issue should be where the strategy for total low is applied How it is applied? Where the focus strategy should apply? Which the target market is? Moreover, how it is applied? If there is no clear definition, PVC should fall in the situation of getting stuck among strategies, and it does not take advantage of their existing strengths The Table for Definition of Strategy for each market shows as follow: Table 3-4: Applicable Strategy and Market No Market Types Types applied High Level Average Level Markets of oil industry Markets of other industries Focus Low Costs Focus Low Costs Low Level Low Costs Low Costs Based on the above results, total high level and average level markets in the oil industry apply the focus strategy The markets outside of the oil industry and the market of oil industry at low level apply the low cost strategy Therefore, the question is why to so If we do, then we will have two effects, which are: - To consolidate and maintain more market power in the segment of the petroleum industry; and to show that this market is not “monopolistic market" - Based on the available power, gradually build momentum, challenge for the subsidiaries to have the ability to compete in other areas of construction and installation in the domestic market and overseas market 3.1.3.3 Proposal for specific strategies 65 Group No.4 - GaMBA01.X03 Strategic Management According to the above analysis, we have a strategic decision: "The focus strategy in combination with costs low associated" In addition to strategies for the target market selected, our team adds strategic parts / functions as follows: - Financial strategy: Fund raising through issuing stocks; ensuring retained profits for reinvestment and development; paying special attention to the issuing and listing of securities in overseas (via the back door listing, or the model of Shell Company in the U.S.) The reasons for conducting the above-mentioned solutions are: + To increase the supervision over PVC by the outside shareholders and it is one of the important solutions, + Overseas listing for the purpose of attracting more easily and favorably funds and reaching other objectives: PVC can file directly its listing application to the foreign stock exchanges However, now, the listing requirements in the overseas stock exchanges, especially in the US, are very high In order to enable the listing, our group suggests that PVC can conduct “back door listing” or the model of “Shell Company” For example, when PVC wishes to have its shares listed in the stock exchanges of the U.S, PVC should cooperate with a company in the U.S (it is listed in an U.S stock exchange) to establish a subsidiary In accordance with the U.S laws, this subsidiary will be also accept to list in the U.S stock exchange Subsequently, the U.S Company will sell all of its shares of the subsidiary to PVC Eventually, PVC will list in the U.S stock exchange - Bidding strategy: Take advantage of sector, financial strength, best available technologies, trademarks, etc to promote the implementation of EPC method for every project - Technology strategy, new product: Constantly researching, learning and developing technologies, products and services - Strategic Human: Humans are the key to development Therefore, the strategy does not stop people in professional training but also to ethical business 66 Group No.4 - GaMBA01.X03 Strategic Management and loyalty to PVC To achieve this, PVC must be continuous market research, made possible with technology issues, improve institutional mechanisms and human resources training - Marketing strategy: PVC strengths the work of promoting their brand of sync (from PVC to its subsidiaries, etc.) and make it more forms; which is the marketing slogan: "PVC – Leading Contractor" 3.2 Some business strategy solutions for PVC 3.2.1 Overall cost leadership strategy: - Target market is the market outside of the oil industry and a part of the market of the oil industry (which applies technology and low quality) for all of service types such as design, provision, construction, assessable, and maintenance services (applying EPC) - Solution for bargain power of buyers: + Reasonable quality: To satisfy the minimum requirements of clients, but also satisfy all of requirements in term of legal, standards and conditions for operation and insurance, + Completion date: To delivery products on time or earlier if possible, + Reasonable products price: To comply with competitive prices on the market - Solution for bargain power of sellers: + Payable in advance for suppliers or other methods It applies only to foreign supplier, to avoid any cases of foreign exchange fluctuation; PVC should have an appropriate amount of reserve + Currently, PVC is a business brand and has very good relations with suppliers Therefore, vendors who want to sell, they must also lower the price In other words, they themselves compete on price, payment terms and so on Therefore, they provide advantages for PVC - Solution for construction and accessibly: + To use construction and assembly tools at the average level + To use human resource with average or low quality 67 Group No.4 - GaMBA01.X03 Strategic Management + Management for construction or assembly should to ensure there is no inventory of materials, human resource, tools and broken products or stand – by acceptance products + Production procedure should ensure the lowest attrition of materials and the attrition should be lower than the accepted amount - Solutions of maintenance and insurance services: These constructions have demand of insurance for – years, the good insurance should include very good usage instruction, and then the insurance fees should saves PVC has set up the detailed insurance procedure and detailed instruction for usage procedure - Solution for human resource: Human resource for these projects is not required to be high It only needs to meet the minimum requirements Therefore, human resources here can be outsourced or consist of employees with short-term labor contracts - Solution for finance: It is necessary to conduct research production procedure for selection and creation of material substitute, so cost of goods sold are lowest In addition, it is important to calculate the most appropriate cash flow so it is not necessary to use the company finance resource or it should be very little if it is in use - Solution for material management: it is encouraged to look for material and equipment substitutes and create the best competition for markets of materials, equipments and material attrition is the priority - Solution for marketing: It is necessary to have marketing strategies that cover entire markets and marketing strategies for oil industry 3.2.2 Focus Strategy: - Target market: It apply for high level and average level markets in the oil industry The nature of “focus” should base on the specialization capacity of PVC and the State support - Solution for construction and assembly: 68 Group No.4 - GaMBA01.X03 Strategic Management +The usage of construction and assembly for high technology and techniques, + The usage of human resource with high quality, + The management of construction and assembly should ensure, + Production procedure with materials attrition should be most appropriate - Solution for technology and quality applied: The market segmentation needs products with high quality in terms of high technology, capacity, extension capacity, durability and high requirement of services; especially, meeting the requirements of Vietnamese standards which result to meeting the international standards in this industry - Solution for insurance and maintenance business: It is required a lot of time and human resource and there is a detailed procedure and solutions for prevention and substitute when accidence could occur - Solution for human resource: For this strategy, it is required to high quality human resource, especially human resource in the technology areas, design and so on Hence, at PVC, there will be two parts: high-level part and average level part These parts require staff to understand techniques and active research on input related and output related products and products with high consistency and internationalization This is good inside competition environment for PVC To this, the training and retraining should be: + Contents of training: management skills, thinking skills, skills of personnel; professional skills and in particular foreign language; + Forms of training: Training on concentration and decentralization; training should focus on applied skills have characteristics of PVC + Training subjects: To review the system standard job titles for each specific job, on that basis, select the objects you need training, which need special attention to personnel management and technical staff However, attention should be pays to the perception of this group, to avoid conflicts - Solution for marketing: The market assessment should conducts via investment channels and actively looking for clients (mainly foreign clients), using 69 Group No.4 - GaMBA01.X03 Strategic Management the marketing techniques and technical techniques to convince and build confidence with clients In addition, it is necessary to strengthen advisements on different communication means, so clients can understand and perceive of the product importance and capacity to implement these products - Solution for Investment: Focus on investment in modern equipments and machines Based on the high quality human resource, it is critical to focus on research, improvement and product development 3.3 Roadmap for implementation of PVC strategy To ensure the checking, supervision and effectiveness assessment for strategy solution implementation, it is required to implement the roadmap at the table 3-5: Table 3-5 Roadmaps for Strategy Implementation No Works Business Strategy Solution for human resource and science research Solution for corporate finance management Marketing Solutions Solutions for production and materials management Time Proposed Products 1/3/2011 Strategy Set 1/3/2011 40 % of PVC staff having at least bachelor degree and being influent of at least one foreign langue 1/3/2011 1/3/2011 1/3/2011 Development and application of affective and advanced corporate finance management Strengthening advertisements on public communication media Organization for effective production management 70 Imple mentat Impleme ion Implementatio ntation costs n agencies method (billion VND) Management 0.2 Hired Board HR Department 572 Hired 0,05 Accounting and Finance Department Hired 0,5 0,05 Communicatio n Department Hired Techniques and Hired Safety Department; Physical Equipment Department; Group No.4 - GaMBA01.X03 Solution for organization structure 1/3/2011 Appropriate and light organization structure 0,5 Strategic Management Tender Economics Department Human Resource Department Hired (Note: The cost of Solution for personnel implements for the period of 2011 – 2015) In accordance with the above plan, the development of business strategy and functional strategies should be built completely and approved before 1/3/2011 The period for strategy implementation should begin from 1/1/2011 to the end of 2015 During the implementation process, there will be responses and it could result to the adjustment of some matters in the strategies 3.4 Limitations for research and risks: Strategies develop with assumptions and forecast of Vietnam market growth and it cannot avoid any internal and external assessments in subjective manner Hence, the provision and effectiveness of strategies will have low level of accuracy Within the scope of program in terms of limited content, time and materials for reference, the assessment based on logic thought will lead to the limitations in several ways 71 Group No.4 - GaMBA01.X03 Strategic Management CONCLUSIONS AND RECOMMENDATIONS Summary of business strategy of PVC during the period of year 2011 – 2015 - In regards to business strategy of PVC for the period of year 2011 – 2015: It is the focus strategy for some key factors – focus strategy linked with low cost strategy The main thought of this strategy is no spread and scatter of resources (including human resource, capital, technology, especially the PVC position advantage in the industry) For each period, it is necessary to focus on crucial strategies for PVC business operation; to define the roadmap for implementation of solutions for each target market - Business strategies and target markets are applied and described in details for PVC in the period of 2011 – 2015 are: +Entire high level and average level markets in the oil industry apply for focus strategy, + The markets outside of the oil industry and markets of oil industry at low level apply the low cost strategy, Note: the criteria for market segmentation should bases on the level of technology usage and product quality In all of the markets, PVC always try to implement the method of tender EPC – turnkey - The solution system includes: + Solution for human resource: Implementation expenditure of 572 billion within years, with the objective of 40% staff of PVC, who have at least bachelor degrees and are influent in at least one language + Solution for corporate finance management; Marketing solution; Solution for production and materials management; + Solution for organization structure Lessons - Since the environment (including inside and outside of environment) always changes, it is necessary to reassess the strategies in order to have the best business strategies; 72 Group No.4 - GaMBA01.X03 Strategic Management - Take advantage of opportunities (mainly legal environment) and industry specific characteristics is the key to the development of PVC However, PVC needs to avoid misunderstanding about the monopoly in the oil- gas industry - It is nonstop for application of knowledge’s gained in the Global Advanced Master of Business Administration - Griggs University (especially the subject Strategic Management - an economic science is relatively new in Vietnam today) into practice in order to improve the competitive capacity for Vietnamese enterprises in the local and international markets - In this thesis, when calculating the weights and degree of influence, comparing factors and so on in the models and tables, Group has reference from the key experts’ opinions of the PVC Therefore, it could affect the soundness of the strategy Recommendations Due to choosing the factors (macro, micro and internal factors of the enterprise) which have impact on business operation results of the enterprise, the estimation of possibilities and importance of the factors in the matrix can and also should continue to study in order to contribute for completion in term of theory and practice In accordance with subjective opinions of the group, it is necessary to have more in-depth research project for this topic (can use the weighted average of expert opinions and surveys) so it could increase the accurateness of the models And in summary, for concluding words, the assignment of “Business Strategy Development for PVC in the period of 2010 – 2015” of the group is chosen based on the actual condition of the enterprise as well as conditions of individuals The analysis is based on sources of information and figures provided by the enterprise, prospectus, annual reports and other sources With the business strategy for PVC, it is for the purpose of research, study and assignment completion, and it is valuable for PVC for reference, and it could be that PVC could gain position as expected in 2015 73 Group No.4 - GaMBA01.X03 Strategic Management MATERIALS FOR REFERENCE I BOOKS Michael E Porter, Competitive Strategy (New York: Free, Press, 1980) Porter, M.E The contribution of Industrial Organization to Strategic Management, New York: Wiley (1981) Lawrence R Jauch and William F Gluek (1989), Business Policy and Strategic Management Charles W.L.Hill, Gareth R.Joines (2002), Strategic Management: An Integrated Approach, 5th, Ed Houghton Mifflin David A Secenzo, Stephen P Robbin (2002), Human Resource Management, 7th John Wiley & Son, Inc Charles D Schewe – Alexander Watson Hiam The Portable MBA in Marketing Le The Gioi, Associate Professor, PhD, (2007), Strategy management, Statistical Publishing house R Lubit, (2001), “Tacut knowledge and knowledge management: The keys to sustainable competitive advantage ”, organizational Dynamics, 29(3) Jack W Calhoun (2004) Fundamentals of financial management, 10th Thomson 10 Abell D F (1980), Defining the business: The Starting Point of Strategic Planning, Englewood Clifs, NJ: Prentice Hall II MATERIALS AND OTHER PUBLICATIONS: Annual Management Report 2007-2008-2009 of PVC Financial Statement 2007-2008-2009 of PVC PVC’s planning report 2010-201 III WEBSITES: http://www.pvc.vn/ http://www.ssc.gov.vn/ State Securities Commission http://dddn.com.vn/ Enterprise Forum http://www.marketingchienluoc.com/ 74 Group No.4 - GaMBA01.X03 Strategic Management Appendixes I Assignments No Name Trinh Van Dien Task Leading in the development of outlines and report completion Trinh Van Thao Contacting and working with the PVC Participating in preparation for the outlines Participating in writing for Chapter I Participating in report completion Pham Van Hiep Contacting and working with the PVC Dealing and processing the raw date Gathering the industry data Participating in preparation for the outlines Participating in writing for Chapter III Participating in report completion Hoang Trung Hung Summarizing the macro and micro economy status Gathering the industry data Participating in writing for Chapter II Participating in report completion II – LIST OF INSTITUTIONS AND INDIVIDUALS PARTICIPATING IN RESEARCH No Names of individuals Contents and institutions Research Committee of the Providing guidance for the report Griggs University (the US) Providing guidance for report outlines Providing general comments for the outlines Providing comments for detailed contents of the Professor, PhD Ngo Kim draft Consulting the topic selection for the group Thanh – Lecturer of Providing direction for research and consulting the Strategy Management topic contents during the research progress of the Subject group 75 Group No.4 - GaMBA01.X03 Strategic Management PVC General Corporation Providing initial thought for related matters to the Including the enterprise and the industry chosen for topic of the representatives: the Deputy group report; CEOs and Heads of Providing necessary and relevant materials, data Functional Departments and allowing the group to work during the research progress III Monopoly relation of oil industry related corporations (Value Chain and Monopoly) (Source: PVN, data generated from Tan Viet Securities firm, May 2010 report) 76 ...Group No.4 - GaMBA01.X03 Strategic Management COMMITMENT We, Group - Class MBA0 1-X03, declare that this topic: “Business strategy formulation... environmental changes 23 Of conversion Group No.4 - GaMBA01.X03 Strategic Management n 1.0 xx (Source: the lecture on Strategic Management – International MBA Training Program – Ngo Kim Thanh, 2010) Valuation:... environmental changes … n 24 X Of conversion Group No.4 - GaMBA01.X03 Strategic Management (Source: the lecture on Strategic Management – International MBA Training Program – Ngo Kim Thanh, 2010) 1.4.2.3