Luận văn thạc sĩ quản trị kinh doanh quốc tế MBA (239)

CAPSTONE PROJECT REPORT GENERAL STRATEGY ESTABLISHMENT OF PETROVIETNAM FINANCE CORPORATION PERIOD 2011-2015 AND ORIENTATION BY 2025 Group No.: 10 Student’s name: Tran Thi Van Mai Xuan Thanh Le Anh Dung Vu Duc Thiep GaMBAX04-2009 Hanoi, June 2011 Capstone Project – Strategic Management of Group 10 GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT GENERAL STRATEGY ESTABLISHMENT OF PETROVIETNAM FINANCE CORPORATION PERIOD 2010-2015 AND ORIENTATION BY 2025 Group No.: 10 Student’s name: Tran Thi Van Mai Xuan Thanh Le Anh Dung Vu Duc Thiep Hanoi, June 2011 Capstone Project – Strategic Management of Group 10 COMMITMENT We have committed that contents in this research of Strategic Management had not been submitted for any other Master programs as well as any program We also commit that this research reflects great effort of members in our group Results, analysis and conclusions in this research (except for quotation) are of the whole group STUDENT’S SIGNATURES WORDS OF THANK Capstone Project – Strategic Management of Group 10 We would like to express our sincere thanks for Executive Board of Griggs University – US, training technology and job system center – Hanoi National University, lecturers and officers in the Department who have whole-heartedly taught, instructed, and created conditions for us during our attendance in GaMBA X04-2009 to complete the course We faithfully thank the national and international teachers who have participated in teaching our program, enthusiastically given instructions and fully been responsible for us during the process of study, research and completion of this capstone project report We also would like to send thanks to Vietnam Oil and Gas Group, Petro Vietnam Finance Corporation have created conditions and supported us to complete this research Thanks our colleagues, our friends and our family for encouraging us to this research Thank you so much Capstone Project – Strategic Management of Group 10 CONTENTS WORDS OF THANK CHAPTER – THEORETICAL BASE 12 1.1 STRATEGY AND CHARACTERISTICS OF STRATEGY .12 1.1.1 Some concepts about strategy 12 1.1.2 Characteristics of strategy .12 1.1.3 Business strategy and selection of strategy 13 1.1.4 Role of strategy .14 1.2 PROCESS OF STRATEGY ESTABLISHMENT 14 1.2.1 Mission and vision 15 1.2.2 Strategic goal 17 1.2.3 Analysis of external environment 18 1.2.4 Analysis of internal environment 26 1.2.5 SWOT matrix 28 1.2.6 Strategy selection 31 1.2.8 Model of analysis of strategy selection by the weight method 33 Summary of Chapter 33 CHAPTER –THE REAL SITUATION OF FACTORS AFFECTING THE FORMATION AND SELECTION OF BUSINESS STRATEGY OF 35 PETROL VIETNAM FINANCE CORPORATION (PVFC) 35 2.1 OVERVIEW ON PVFC 35 2.1.1 Process of establishment and development 35 2.1.2 Functions and tasks of PVFC 35 With the characters of a financial institution of Petro Vietnam industry, a connection bridge of capital market with Petro Vietnam and development along with a system of financial-banking institutions of Vietnam within the framework of integration, PVFC has the main functions and tasks: .35 2.1.3 Organizational structure and real situation of human resources .36 2.1.5 Targets of business operations .38 2.2 ANALYSIS OF FACTORS OF PVFC’S EXTERNAL ENVIRONMENT 41 2.2.2 Analyze the environment of the industry .47 2.2.3 Internal environment analysis 55 Value Chain model 55 CHAPTER - SELECTION OF DEVELOPMENT STRATEGY OF PVFC AND STRATEGY IMPLEMENTATION .66 3.1 INTRODUCTION OF DEVELOPMENT GOALS OF PVFC BY 2015 AND VISION BY 2025 66 3.2 SELECTION OF DEVELOPMENT STRATEGY OF PVFC 68 Capstone Project – Strategic Management of Group 10 3.2.1 Strategy selection 68 3.3 SOLUTIONS FOR STRATEGY IMPLEMENTATION .75 3.3.1 Solutions in organizations and management 75 3.3.2 Solutions in human resources and corporate culture 78 3.3.3 Solutions in market 81 3.4 PROPOSALS 82 CONCLUSION .84 REFERENCES 86 Capstone Project – Strategic Management of Group 10 ABBREVIATIONS Abbreviation GDP PEST PVN PVFC BLĐ SO ST SWOT TCTD TNHH VĐL WO WT NHTMCP Means Gross Domestic Product Political – economic – social – technology PetroVietnam Group Petrovietnam Finance Corporation Executive Board Strengths-Opportunities Strengths-Threat Strengths - Weaknesses - Opportunities – Threat Credit organization Limited Liability Charter Capital Weaknesses-Opportunities Weaknesses -Threat Joint Stock Commercial Bank Capstone Project – Strategic Management of Group 10 LIST OF CHARTS - FIGURES Figure 1-1: Process of strategic establishment .15 Figure 1-2: Model of analysis of degrees in external and internal environment .19 Figure 1-3: 5-force model of Michel Porter 24 Table 1-4: SWOT matrix .30 Table 1-5: Summary table of selections suitable to each strategy 31 Figure 2-1: Organizational chart of PVFC apparatus .36 Figure 2-3: Personnel classification upon age .37 Figure 2-4: Business targets in the period of 2006-2010 .39 Figure 2-5: Total assets and charter capital in the period of 2006-2010 39 Figure 2-6: Revenue in the period of 2006- 2010 40 Figure 2-7: PVFC profit in the period of 2006-2010 .40 Figure 2-8: Chart of inflation situation in VN from 2000 to 2008 45 Figure 2-9: Population distribution upon Urban – Rural .46 Table 2-15: Swot analysis 65 Table 3-2: Evaluation of priority of strategy implementation according to Smart matrix 70 PREFACE Petro Vietnam Finance Corporation has been established since June 2006, its former is Petro Vietnam Finance Company It is a non-banking credit organization and a financial institution of Vietnam National Oil and Gas Group (PVN) Through more than 10 years of establishment and development, so far PVFC has become one of credit organizations with rapid development rate and the trademark as Petro Vietnam Finance has been affirmed in Vietnam’s financial market and countries in the region With main functions of arrangement capital resources for the Group, most profitable and efficient operation of financial resources of oil and gas industry, establishment of financial tools supporting for staff policies of the Group, many creative products of PVFC had been born in succession, becoming typical products, making contribution to create the difference and uniqueness of PVFC in the market Capstone Project – Strategic Management of Group 10 such as co-sponsor, lending trust, investment trust, consultancy and brokerage for investment, consultancy in enterprise equitization In addition, PVFC is a consultant in finance and transforming finance structure, bringing enterprises in oil and gas industry to attach with operation of capital market Strong and rapid development of PVFC reflect and affirm its role as a firm financial instruction of PVN Operation results of PVFC for the past 10 years have shown ideas-based development of PVFC has just been in its initial phase with many existing objective and subjective obstacles and challenges Thus, studying to discover suitable development strategy in this period is very important and necessary for PVFC to have a sustainable development orientations From this fact, we have chosen topic “Establishment of general strategy of Petro Vietnam Finance Corporation period 2010 – 2015 and vision by 2025” Purposes of research: Systematize theoretical basis about strategy as premise to analyze factors affecting operation of the Company, and development strategy establishment of the company upcoming time Analysis of factors affecting development process of PVFC includes business operation, human resources training and development, technology, finance…of the Company so as to combine with orientations, influential factors to establish development strategy and solutions for PVFC period 2010 – 2015 and vision by 2025 Scope of research: In the scope of the topic, our group will focus on studying, establishing and selecting development strategy for period 2010 – 2015 and vision by 2025 Method of research: Approach learned theories about strategic management; survey and collect data in PVFC, use methods such as comparison, analysis, systemization and statistics from reports and data from PVFC, State’s administration agency, and related websites… Capstone Project – Strategic Management of Group 10 Significance of the research: The research topic has systematized theoretical basis about development strategy establishment at Company level and applied to establish development strategy for PVFC The topic has analyzed state of PVFC and factors affecting development strategy of the Company The topic has proposed some development strategy and solutions to take development strategies of PVFC In addition, the topic can be used as materials for other research works in market establishment and management, operation’s results of financial companies At the same time, it also is significant in term of theory, it provides a new views on strategy and business activities management manner of a financial company which are differed from approach and analysis of strategy of some credit organizations over the past time Limits of the research Time of research and figures for reference are limited Financial market in Vietnam and in the world is recessed with many unexpected changes and adverse effects on economies including Vietnam, hence establishment strategy for the Company must have some adjustments to suit with happenings in the financial market Expected results - Analyze, select and establish development strategies which are suitable for PVFC - Have orientations for general development process of the Company period 2010 – 2015 and vision by 2025 Structure of the research In addition to the preface, conclusion, appendixes, charts and figures, the research are divided into three chapters: 10 Research work for Strategic Management serious organization Mobilization in sector, PVN is competing strongly with the banks with main market share of mobilization capital Thirdly (strategy 3): Quick application of technological achievements and management science In tendency of development of the enterprises, the units in financial, banking sector with modern IT system will quickly have many opportunities to develop more products, services, serving better the demands of the customers; and the management will be more serious, effective; save the cost and time Modern core banking system always plays the specially important role in the strategy of each credit organization in the enterprise management This software has been applied by many banks and PVFC is the first financial company which set up to reach the business objectives, develop the services in the current integration process From 2001, PVFC used the Bank200 software system However, after many operation years, PVFC has developed more new services, this software system has not met the requirements in new management condition any more and expressed a lot of limitations such as: not collecting immediate data (online); low ability of expansion; limited in analysis, controlling, security; difficult to control the activities of the Corporation immediately…, thus leading to loss of the opportunities in the business, difficulty in developing the new skills under international standards From the beginning of 2010, after one implementation year of developing Flexcube V10.2 solution together with partner Oracle Financial Service Software, PVFC has been successful in bringing its products to the Flexcube core banking system With SOA architecture foundation of Flexcube – the most modern architecture of core banking systems, Flexcuve meets the professional requirements of PVFC, creating the condition easily in expanding the new products, services The professional processes in Flexcube system are processed thoroughly The system has the characteristics of high expansion, easy integration with other systems and favorable in improvement By that, PVFC has taken more initiative in selecting the 73 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management suitable professional sub-systems with its activities of business management such as investment, credit, deposit, inter-banks… Because the parameter of Flexcube system is opened, when having the new professional products, PVFC can be easier in operation and application PVFC can make the parameter by itself and add to the system without the support of the bidder Besides the traditional sub-systems of core banking, PVFC has brought the investment management sub-system into application This becomes the first subsystem implemented in Vietnam’s market Thanks to characteristics of Flexcube, combining with the technological foundations of Oracle, PVFC created and improved the professional processes and more suitable management methods with PVFC Especially, the activity of the report has met the modern management requirement of credit organization; timely providing the information for the requirement of making the decisions quickly is the urgent and decisive requirements of the success in management Successful implementation of Core banking is the foundation so that PVFC continues to implement other software systems such as: System of enterprise resource programming (ERP), system of Credit Liabilities Management (ALM), system of risk management… Special utility of modern Core banking is possible to have better risk management This has helped PVFC to manage the market risk, the credit risk, liquidation…with many different levels in management Besides that, owning to the advantage in concentration of Core banking, PVFC can improve the management of customer information and provide the services to the customers With the realistic benefits, solution of new, more modern core banking will create a foundation and management environment, operation, provision of modern, safe, quick and professional service Development of modern core banking software system is one of the large efforts to help the development of PVFC into a strong financial regulation and bring PVFC to integrate into the world economy 3.2.3 Roadmap of implementing the strategy 74 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management Strategy 1: Dividing into periods: 2011 – 2012 and 2013 – 2015, In which, the period needs to define the products for the development basing on evaluation of the capacity of the Corporation, not develop the products without having the competitive advantage (avoiding the disease of some groups, larger corporations) The period should focus on improving the products Strategy 2: implemented frequently, to maintain, develop the relationships with PVN in the severe competition with the competitors Strategy 3: dividing into periods: 2011 – 2012 and 2013 – 2015 The period focuses on applying core banking to narrow the distance with the competitors The period focuses on applying the advances of technology and equipments to reach the target of one of the top groups 3.3 SOLUTIONS FOR STRATEGY IMPLEMENTATION Solutions for strategy implementation is a stage whether the strategy will be realized or not Thus PVFC needs to well organize the implementation of strategy to ensure efficiency for strategy 3.3.1 Solutions in organizations and management Organization model Build PVFC towards the model of Parent-Subsidiaries Company Parent Company is PVN, Subsidiaries are ones having contributing capital of the Parent Company in some specialized business fields such as fund management, financial consultancy, real estate, securities, media… Management + Build machinery of the Company which is strong enough to support for Executive Board of PVFC to make quick and right decisions on business situation, at the same time support for units in the system + Establish Subsidiaries which are intensive in banking and non-banking professions, actively participate into security market in the country and in foreign 75 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management countries Prepare to soon open branches and representative offices in foreign counter to penetrate into operation of international capital market For Subsidiaries, PVFC will manage via representative of the Company in Subsidiaries Relationship of PVFC with Subsidiaries will be as follows: • PVFC invests its capital in Subsidiaries, perform the function of ownership of its capital in the subsidiaries through operation regulations of the Subsidiaries (take part in Board of Management, Supervisory Board, Management machinery in the Subsidiaries) • Subsidiaries are independent accounting unit, have full power to use capital in accordance with Resolutions of Board of Management (with participation of PVFC), management regulations of Subsidiaries and of State’s law The Subsidiaries will bear direct liability for investment capital management and utilization with PVFC and with law • Subsidiaries will be liable for submitting PVFC business results corresponding to contributing capital of PVFC and according to agreement, regulations of the Subsidiaries • The Subsidiaries will receive preference in terms of finance, information, trademark, training, market, relationship, technology…of a member unit in PVFC • The Subsidiaries will be managed and supervised of PVFC according to internal regulations of PVFC + Establish system of rules, regulations, and professional process to manage and run the system legally Clearly define responsibilities of each title, raise high discipline in carrying out tasks assigned Decentralization to create activeness of units in the system; manage and run consistently in the whole system Apply and maintain the quality management system ISO 1900 – 2000 + Give priority for information and technology development to serve for monetary and investment services By 2010, transaction via Internet has been done Apply information and technology in all professions of PVFC Use electric equipments, internal information network for the whole PVFC to ensure safe, rapid, 76 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management and accurate management of business Successfully use information and technology to collect information and advertise image of PVFC In order to steps by steps modernize information and technology and commercialize electronics in Vietnam, PVFC needed to identify modernization of information and technology as core and driving force to effectively perform business process and enterprise management, at the same time create basis for new products and services Thus applying information and technology in modernization is the only way to not be leave behind and improve competitiveness, and position of PVFC in domestic and international monetary and financial market PVFC needs to set goals and route map for information and technology as follows: Carry out transaction with customers via computer internet; apply information and technology in all professions of PVFC; quickly automate customer accounting system with advanced solutions; boost electronic commerce promotion, develop modern products such as e-card Up coming time, it is needed to focus on: + Recruit and train programmers who are competent in information and finance-banking knowledge This will help PVFC to be active and creative in exploitation, programming its own software + Establish and further complete core-banking software with service software and transmission line security + Upgrade and consistently use hardware of computers in PVFC to effectively use server system + Organize information system consistently, up-dated, accurate and safe Establish information channels among management levels; regularly or periodically analyze business activities of PVFC to create processed information quickly, promptly, accurately to serve for management - Intensify testing, and supervising to ensure activities of the company are tested and reviewed both before and after implementation to ensure all activities of PVFC are legal Well perform rules, regulations, processes which PVFC applies to reduce risks To improve efficiency of internal control system, PVFC needs to: 77 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management + Create a supervisory environment, including encouraging high standards about ethics to prevent and limit non-permitted behavior; help staffs and officers be fully aware of importance of internal controlling, understand their roles and positions in internal controlling mechanism + Establish process of identifying, evaluating and supervising to limit risks; establish organizational structure with clear decentralization + Profession processes, operation mechanisms in important aspects such as mobilization, lending, financial investment, foreign currency trading….must be regularly reviewed to discover shortcomings, potential risks, or new potentials in changing business conditions; so as to add, change, complete professional measures, establish new and more complete professional process + Raise high testing, considering it as a part not simply as addition to daily activities of the company Testing is done from the highest level, testing business activities, accounting, risk limit obedience, approval and commission… + Test and supervise the obedience of rules, regulations of PVFC; so as to improve working capacity and self-discipline of staffs and officers Build supervisory regulations to ensure efficient operation of PVFC + Promptly report on results of testing, internal controlling and propose necessary solutions to Executive Board of PVFC after analyzing and give out measures to overcome + Establish and efficiently apply internal information controlling system to ensure information update, report to administrator to promptly handle with problems 3.3.2 Solutions in human resources and corporate culture - Solutions in human resources Establish staffs who have good characteristics, are competent, active in handling with situations and creative to overcome challenges, have good knowledge about business and management to meet requirements of operation and management 78 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management of modern financial investment institution Train financial experts at sector level, national level and international level PVFC plans long term and consistent strategy for human resources with following main ideas: + Recruitment policies: Candidates who are recruited by PVFC must meet development requirement of PVFC They must be competent, experienced and have team-working ability…The company gives priority to recruit experts in financebanking, economics management, information and technology, children of staffs or officers who have made great contribution to development of PVFC and oil and gas industry + Training policies: Hold training course for staffs and officers to have goals suitable with development strategies of each period and long term development of the company, in which the priority is given to quickly train senior managers, managers, leading experts and international experts in finance-banking Contents of training will be modern management skills, foreign languages, specialized tools , problem solving skills… + Treatment policies: Ensure equality and public Wage and bonus policies are attached to efficiency and quality of work which will encourage staffs and offices to be creative in work Diversify treatment policies and expand treatment policies to good experts Ensure that income of experts is equivalent to that in developed countries in the region, income of staffs and officers are at top rank in finance-banking in Vietnam - Corporate culture Currently, there are many concepts about corporate culture In general, corporate culture can be a system of material and spiritual standards which regulate relationship, attitude and behavior of all members in the Company towards good value in the society, creating uniqueness; and at the same time be long lasting strength of the Company which is reflected in its products in the market Each 79 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management company will have different standards system Corporate culture of a company is symbol of a company, at the same time it also create distinct personality and styles of members in the Company Thus, there is no common standard for corporate culture for all enterprises It requires careful study and experience to establish valuable tradition, custom of the whole organization or of individuals Since the fist days of establishment, Executive Board of PVFC has identified that business activities of PVFC need to have distinct characters that is culture of PVFC PVFC culture establishment needs to be keep studying, performing and learning from experience in a long term process which requires devotion of all members in PVFC PVFC culture includes following main contents: + System of development strategy of the company in the long run are practical to produce products and services of high quality This is a strategic idea, a foundation of PVFC culture which Executive Board of PVFC and its members consider as their career This strategic idea comprises ideas about establishing and keeping the prestige with customer, for the continuous growth of PVFC, ideas about internal solidarity; works of all members have impacts on one another; ideas of creation and innovation; the ideas of taking practice as measure of work; ideas of equality in distributing working achievement; transparency in finance and democracy promotion… + System of signs, symbols of PVFC such as images, common symbols, traditional days of PVFC; common typical characteristics of PVFC such as uniform, name card, letter envelope, letter paper, handbook and pens…Appearance factors must also follow forms and used widely and continuously to create impress in the society, becoming pride of members in PVFC and their family from generation to other generation + System of custom of attitude and daily behavior of each member are a part of PVFC culture Such principles consist of regulations about confidentiality, labor regulations, uniform, badge, working style and transaction principles, 80 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management recording and reporting principles…All of these regulations must be clear, specific, and becoming cultural rules and lifestyle of each members + Financial discipline of PVFC such as obedience of business norm; way to calculate wage and bonus; regulations about advances, payment, borrowing; accounting, auditing and internal controlling principles….These principles must be performed transparently, eccomically and equally, and responsibly for common prosperity of PVF + Non-written regulations which members in PVFC volunteer to establish for relations among members and for the common sake of PVFC Some typical rules such as honesty, openness, frank suggestions, custom of holding birthday parties, new year parties, reward children of staffs and officers who have good studying results, help for difficult families… 3.3.3 Solutions in market - Location Focus on develop in centers of Oil and gas industry, finance-banking, economic centers of Vietnam and some branches, representative offices in foreign countries serving for foreign investment of PVN and connect with international financial centers - Customers Customers of PVFC are domestic and international individuals and organizations Main subjects are Parent companies, subsidiaries and staffs of oil and gas industry, individuals and organizations of mutual development Specific customer policies are: + With banking financial organizations: Close relations with National commercial Banks and other financial institutions in Vietnam Improve cooperation with international financial institutions + With: PVFC is a non-banking financial institutions, a tool of the Group to perform financial strategies 81 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management + With member enterprises of PVN: Consolidate and closer cooperate with the goal to support at maximum level for business activities to provide financial products and services for member enterprises + With other enterprises: expand on the basis of selection, judgment and priority for potential enterprises Conclusion: With selected strategies, in which the most important one is taking difference in products as competitiveness advantage, PVFC believes that in the next years, it will steps by steps be on track to become a leading prestigious trademark in Vietnam 3.4 PROPOSALS To efficiently perform solutions for operation development of VFC, it requires support, favorable conditions of State, State Bank of Vietnam and PVN for PVFC 3.4.1 FOR STATE AND STATE BANK OF VIETNAM - Soon authorize the establishment of Petro Commercial Joint Stock Bank to create a favorable business environment and initiative in carrying out the opening and international integration for business units to ensure: + Improve self-control in business, decision making in using assigned capital and capital mobilization of enterprises + Follow the principle that State only manages State’s enterprises as an owner of investment capital into enterprise in term of value + Further complete the decentralization of State’s property among representative agencies; define scope, competence, responsibilities of Ministries, Sectors, Provincial People’s Committee and Board of Management to ensure consistent decentralization of property + Continue to clarify, complete the model of Company, Corporation, Group, relation of Parent – Subsidiaries, relations of Board of Management and General Director + Continue to boost multi-property in enterprise 82 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management - Affirm that Financial Companies in Groups (State’s Corporation) are not only non-banking credit organization according to Law on Credit organization but also financial institution in Groups (State’s Corporation) operating in accordance with Enterprise Law, perform some tasks, functions in management and run of finance, credit of the Group State Bank of Vietnam needs to give permission Financial Companies in the Group (State’s Corporation) to act as key credit organization for investment and development projects owned by the Group (Corporation) 3.4.2 FOR PVN - Continue to expand financial relations and identify PVFC as a financial institution which acts as a linking bridge between PVN and other financial organizations and market in the country and in the world, and manages financial sources of PVN to make profit - Support PVFC to improve self-control in term of finance, develop business activities - Entrust PVFC to represent PVN in mobilizing capital from domestic and international credit organizations and to manage self-accumulation capital to reinvest - Assign PVFC as key point to establish and take capital mobilization plans from social capital sources to invest in projects of PVN and member units in PVN - Steps by steps entrust PVFC as direct representative of contributing capital of PVN in Joint venture companies, joint stock companies; permit PVFC to take part in investment preparation process of PVN as well as investment capital in joint ventures and joint stock companies - Continue to assign PVFC make capital mobilization plans through bond issuance of PVN and members of PVN in the country and in foreign countries; perform professional of bond issuance for PVN and members of PVN - Create favorable conditions for PVFC to consult for equitization, bond issuance, finance for PVN and its members 83 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management CONCLUSION With development goals for the next 10 years, leaders and staffs and officers of PVFC have been striving to lay a foundation for sustainable development in the future With core value system of the Company, PVFC has been steps by steps lay foundation for corporate culture to turn it into competitiveness advantage of the company in comparison with its rivals in the market and available for expansion in the future At the same time, Executive Board of PVFC has given out orientations for planning business strategy of the company as they are also fully aware of roles of planning business strategy, it helps the company to take advantage of business opportunities, find out strengths as well as overcome existing weaknesses and minimize threats to the development of the company in the future In addition, planning strategy also analyze and identify relations or combination of business environment and the company, between past and present and future The relation or combination is foundation for goals in business strategy of the company in the future Applying theory learned in MBA co-organized by Griggs University and Center for Education Technology and Career Development into practice of PetroVietnam Finance Corporation, our group has completed following tasks: - Synthesize theoretical issues by planning business strategy of the Company and typical features of real estate business affect the strategy planning - Analyze the panorama of financial market in Vietnam over the past time and make judgments and predictions about its development in the future - Analyze external factors to identify opportunities and challenges for PVFC in the present, then to tale business strategies which can take good advantage of opportunities and minimize challenges - Analyze internal factors of the Corporation to be fully aware of strengths and advantages of the Corporation in comparison to those o its rivals and its 84 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management existing weaknesses then to have orientations to take business strategies which can bring into full play of strengths and overcome weaknesses of the Corporation - Apply theory in Swot analysis of the Corporation so as to identify its business strategy for each market segments - Propose the process of strategy implementation and solutions to take those strategies From the set goals, we have tried to analyzed, surveyed and collected evaluation ideas of experts in finance We hope that such contents will be useful reference for managers in general and strategy management in particular in planning business strategies of enterprises Although our group have tried our best to study, information and viewpoint exchange and analyze “topical” issues in planning real estate business strategy at the same time we receive enthusiastic instructions and assistance of Executive Board of PVFC, this topic involves in many subjects, many different fields, but time for research is limited and also sensitiveness of figures and data in the research, thus it is unavoidable to make mistakes and have shortcomings Hence, we hope to receive contributing ideas of lecturers and students to our research Thank you so much./ 85 CLASS GAMBAX04-2009 GROUP No.10 Research work for Strategic Management REFERENCES Michael E Porter (1980), Competitive Strategy, New York: Freepress, USA Associate Professor Nguyen Thua Loc, Doctor Tran Van Bao (2005), Course book on business strategy of commercial enterprise, Publisher: Economics University Associate Professor Le The Gioi, Doctor Nguyen Thanh Liem (2009), Strategy management, Statistics Publisher, Hanoi Nguyen Canh Chat (2006), Establishment and implementation – Business strategy – way to success, Research and Development Institute, Socio-Labor Publisher, Hanoi Michael E Porter (2009), Competitiveness advantage, Youth Publisher, Ho Chi Minh city Sources from Internet 86 CLASS GAMBAX04-2009 GROUP No.10 ... have whole-heartedly taught, instructed, and created conditions for us during our attendance in GaMBA X04-2009 to complete the course We faithfully thank the national and international teachers... exchange rate, interest rate and foreign currency credit disorders; therefore, along with other imbalances by chance, the financial market has contributed to create a total motive power and make... Commercial Joint Stock Bank (VIB), Vietnam Technological and Commercial Joint Stock Bank (TECHCOMBANK), Military Commercial Joint Stock Bank (MB), etc with market share up to 26.5% The remaining