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CAPSTONE PROJECT REPORT TOPIC: BUSINESS STRATEGY FOR SUDICO REAL ESTATE EXCHANGE 2010 - 2015 GAMBA 01.X03 - GROUP MEMBERS PHAN THANH DIEP– GROUP LEADER NGUYEN THI PHUONG MAI VU THI THU THUY NGUYEN THI THANH MAI Hanoi, November 2010 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM TABLE OF CONTENT LIST OF FIGURES LIST OF TABLES ACKNOWLEDGEMENTS INTRODUCTION Topic selection rational Page 8 Project object and scope Project goal Project research methodology Report structure CHAPTER I BUSINESS STRATEGY DEVELOPMENT THEORY 10 1.1 Business strategy 10 1.1.1 Definition 10 1.1.2 Classification 11 1.2 Business strategy formation 12 1.2.1 Mission and main goals 12 1.2.2 External environment 13 1.2.3 Internal environment 13 1.2.4 Strategy selection 13 1.3 Strategy formation tools 13 1.3.1 Stage 1: Input stage 13 1.3.1.1 External Factor Evaluation (EFE) matrix 13 1.3.1.2 Competitive Profile Matrix (CPM) 15 1.3.1.3 Internal Factor Evaluation (IFE) matrix 16 1.3.2 Stage 2: Combination stage 17 1.3.2.1 Strengths - Weaknesses - Opportunities – Threats (SWOT) Matrix 17 1.3.2.2 Strategic Position & Action Evaluation (SPACE) 1.3.2.3 Internal – External (IE) matrix 18 1.3.3 Stage 3: Decisive stage by Qualitative Strategic Planning Matrix 23 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM (QSPM) to choose among alternative strategies CHAPTER BUSINESS STATUS OF SUDICO REAL ESTATE EXCHANGE 2.1 Introduction on Song Da Urban & Industrial Zone Investment and 23 25 25 Development Joint Stock Company (SUDICO) and SUDICO Real Estate Exchange (SUREE) 2.1.1 History and development 25 2.1.1.1 SUDICO JSC 25 2.1.1.2 SUDICO Real Estate Exchange 27 2.1.2 Products and services 29 2.1.3 Business performance 29 2.2 Analysis of environmental factors affecting the operation of SUREE 30 Real Estate Exchange 2.2.1 Macro environment 30 2.2.1.1 Political factor 30 2.2.1.2 Economic factor 34 2.2.1.3 Social factors 38 2.2.1.4 Technological factors 40 2.2.2 Micro environment 42 2.2.2.1 Industry rivalry 42 2.2.2.2 Buyers 45 2.2.2.3 Suppliers 47 2.2.2.4 Potential entrants 48 2.2.2.5 Substitute 48 2.3 Opportunity and threat evaluation 48 2.4 External Factor Evaluation Matrix (EFE) 2.5 Competitive Profile Matrix 49 52 2.6 Internal factor evaluation 55 2.6.1 SUREE’s resources 55 2.6.2 Strengths and weakness analysis 59 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM 2.7 Internal Factor Evaluation Matrix (IFE) CHAPTER SUREE´S BUSINESS STRATEGY FORMATION 60 63 AND EXECUTING SOLUTIONS 3.1 SUREE´s business strategy formation 63 3.1.1 63 Rationale for forming the business strategy 3.1.2 SWOT matrix analysis 63 3.1.3 SPACE matrix analysis 66 3.1.4 IE matrix analysis 68 3.1.5 Alternative strategies for SUREE 69 3.1.6 QSPM Matrix analysis to select the best alternative strategy 70 3.2 Some solutions for SUREE business strategy execution 72 3.2.1 Model/structure building solution 72 3.2.2 Capacity building solution 72 3.2.3 Marketing solution 73 3.2.4 Good service solution 74 3.3 Execution plan CONCLUSION REFERENCES Vietnamese 74 76 77 77 English 77 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM LIST OF FIGURES Figure Figure 1.1 Figure 1.2 Figure 1.3 Figure 1.4 Figure 1.5 Figure 1.6 Figure 1.7 Figure 2.1 Figure 2.2 Figure 2.3 Figure 2.4 Figure 2.5 Figure 2.6 Figure 2.7 Figure 3.1 Figure 3.2 Name The axis of SPACE matrix Examples of variables in SPACE matrix SPACE aggressive images SPACE conservative image SPACE competitive image SPACE defensive image IE matrix SUDICO Capital Structure SUREE Organization Chart Revenue from land use right’s transfer with infrastructure Hanoi GDP 3rd quarter /2008 –3rd quarter/2010 CPI December 2009 – October 2010 Average population by urban and countryside area 1999-2009 Porter’s Five Forces SUREE SPACE matrix SUREE IE matrix Page 18 19 20 21 22 22 23 27 29 30 34 36 39 42 68 69 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM LIST OF TABLES Table Table 1.1 Table 2.1 Table 2.2 Table 2.3 Table 2.4 Table 2.5 Table 2.6 Table 2.7 Table 2.8 Table 2.9 Table 2.10 Table 2.11 Table 2.12 Table 3.1 Table 3.2 Table 3.3 Table 3.4 Table 3.5 Name SWOT Matrix Vietnam Gross Domestic Product (GDP) growth Vietnam 2010 FDI by sectors Vietnam population and population density in 2009 by areas Opportunities and threats for SUREE EFE Matrix Strengths and weaknesses of direct competitors Competitive Profile Matrix Economic Ratio 2007-2009 Economic ratio 2007-2010 Capital Structure SUREE’s strengths and weaknesses IFE Matrix Yearly targets SWOT Matrix SPACE Matrix QSPM Matrix Yearly expenditure plan Page 17 34 35 38 49 50 52 54 55 55 56 59 60 63 64 67 70 76 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM ACKNOWLEDGEMENTS First of all, our group would like to thank the Global Advanced Master of Business Administration Program for having successfully organized courses for GaMba.X0309 class The courses have provided and completed our knowledge and experience in all important areas of business administration Especially in Strategic Management course, we have received a lot of tools to analyze and develop strategies for company as well as modern international strategy trends These tools and knowledge are really useful in our work So we want to thank Prof Sean McCough and Ms Kim Thanh for their enthusiastic and responsible guidance and teaching In addition, we would like to thank Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SUDICO) and SUDICO Real Estate Exchange (SUREE) for giving us materials to study as well as arranging interviews with key managers of the company We would like to deliver our thanks to class managers and monitors who helped the class to coordinate comments on our report outline and always encouraged our group in the process of completing this assignment Our warmest thanks! GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM INTRODUCTION Topic selection rational Real estate market is one of the markets having important role and directly affecting the development speed of Vietnam's economy This is the opinion of Minister of Construction at the International Conference "Housing and real estate market development - International experience and options for Vietnam." In the last 10 years, there has been good progress with the changes in the mechanism and policies on housing and housing market in Vietnam in general and real estate development in particular Evaluation shows that this field contributes approximately 10% of Vietnam's GDP Besides that, the legal document system relating to housing and real estate sector development have been increasingly improved and complemented Stakeholders participating in housing and real estate market are and more diversified SUDICO is one of the companies operating in real estate investment and trading Given the development trend of the real estate and housing market, legal system requires businesses to perform property transactions through real estate exchange agencies To support the company activities, SUDICO Real Estate Exchange was born Our group leader has been working at the company for a long time and was assigned to manage the SUDICO Real Estate Exchange With the task of how to make SUDICO Real Estate Exchange survive and develop in the increasing competitive context in this sector urges us to make research and develop business strategies for the agency Therefore, the group leader has proposed this topic and got the consensus and encouragement from the whole group Project object and scope Project object: Operations of the real estate agencies Project scope: The project focuses on the activities of real estate agencies in Hanoi Project goal GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Building business strategy for SUDICO Real Estate Exchange under SUDICO Project research methodology Desk study Observation Statistics Interviews Group discussion Report structure This report consists of three chapters: Chapter 1: BUSINESS STRATEGY DEVELOPMENT THEORY Chapter 2: BUSINESS STATUS OF SUDICO REAL ESTATE EXCHANGE Chapter 3: SUREE´S BUSINESS STRATEGY FORMATION AND EXECUTING SOLUTIONS GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CHAPTER I BUSINESS STRATEGY DEVELOPMENT THEORY 1.1 Business strategy 1.1.1 Definition " Strategy is the determination of the basic long term goals and objectives, and the adoption of courses of action and the allocation of resources necessary for carrying out goals," Chandler 19621 Business strategy is the tool that businesses use to map directions and to find a relatively long time trajectory It is a forecasting tool for future steps of the businesses in a changing environment Thus, the content of business strategy must reflect two aspects follow:  It should set the large and long-term goals which are ensured to be achieved by effective solutions and tools  It should give clear guidance in the business activities of the company Strategy hierarchy in the business - Functional strategy: It considers the role and direction that the strategy aims at to improve the productivity of activities such as marketing, materials management, production development and customer service - Business strategy: It includes the competitive areas that the companies choose to focus and the way it positions itself in the market to achieve the set goal and contribute to improving the overall strategy of the company - Global strategy: It is the way to penetrate foreign markets to achieve a competitive advantage and maximized the capacity of the company - Corporate strategy: It gives answers to the questions of which business can maximize the profitability of the company The role of business strategy to a company - The strategy has the role to give orientations for all company activities and show clearly the goals to be achieved and how to achieve the goals Chandler, A (1962), Strategy and Structure Cambridge, Massachusetts MIT Press 10 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM not been aware SWOT analysis will help enterprise to have efficiency and competitiveness over competitors Table 3.2: SWOT Matrix O (Opportunity) Vietnam political situation is stable Economic growth is high and stable Foreign investment in real estate increased The number of real estate project in Hanoi after being extended is large Urban population development and urbanization are fast Real estate market is at beginning stage Real estate market segments are diverse: office and apartment for rent, project products, small houses and apartments The demand for real estate use and investment is large T (Threat) The legal trend in real estate sector is that the market will be more transparent and requires more professionalism The number of real estate agencies is big The competition is more and more fierce in all segments: + High quality office and apartment leasing segment dominated by foreign companies + Project products dominated by project owners’ in house agencies + Small houses and apartments dominated by individual brokers and speculators The transparent project products are few Customers are more difficult 10 Real estate services need to be in one full package 11 Information technology, internet, mobile are developing more and more There are more internet users 12 Efficiency and professionalism in real estate services and business are poor S (Strength) 13 There are few professional and transparent agencies SO: 63 ST: GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM SUREE has resources from SUDICO´s projects It has famous SUDICO trademark It has supports in capital, human resources, and finance from SUDICO O (Opportunity) S1,S2,S3,S4,S5+O5,O8,O9, O10,O12,O13: Focus strategy to make SUREE become a professional entity to sell the products of SUDICO´s projects to the customers who like transparency, full packaged product and professional services T (Threat) S2,S3,S4,S5+T2: Cost leadership strategy by providing services in the segment of high quality office and house for rent and sales at low cost with the same quality as foreign companies S2,S3,S4,S5+O5,O8,O9,O10, O11,O12,O13: Product development strategy by designing Management group and developing all real estate and young core staff services through collaborating are well trained and with other professional entities in enthusiastic order to provide high quality It collaborates with services and using e-commerce for leading real estate selling products of housing companies projects for investor customers W (Weakness) S2,S3,S4, S5+O5,O1,O2,O3,O4,O5,O6, O8,O9,O10,O11,O12,O13: Market development strategy by broadening distribution networks, using SUDICO´s trademark and customers, cooperating with partners to implement services to the customers WO: Products are not W2,W4,W6,W7,W8+O6,O7,O8,O9, available for sales O10: Functional strategy by investing It is affected by old in setting up a complete and organization, mechanism of state professional owned company management system and efficient Incentive for staff is operational mechanism for the future projects low Its finance depends on SUDICO Planning depends on 64 WT: W1, W3, W4, W6,W7, + T2: Joint venture strategy by collaborating with powerful in-house agencies of other investors and through that training staff, extending markets and making SUREE operate effectively GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM O (Opportunity) T (Threat) expenditure pressure It doesn’t have a good compensation for recruiting qualified employees Human resources are incomplete Department of customer and market investigation and Department of marketing, consultation and valuation lack of staff Actual experience is unavailable Distribution network is inefficient 3.1.3 SPACE matrix analysis SPACE Matrix helps enterprises to decide on the strategic direction whether aggressive, conservative, defensive or competitive strategy is the best The group defines that SUREE´s strategic position in SPACE Matrix is as follow: 65 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Table 3.3: SPACE Matrix Average Rate Rate FS variables Remark 1.Financial capacity Average, points Business risks Average, points CA variables - 2,33 Distribution network -3 Staff experience -3 Quite good, but still not meet the real demands -3 points Inexperienced staff, -3 points Brand name’s prestige -1 Very good, -1 point ES variables -2,5 Political environment -1 Very good, -1 point Law system -3 In progress, -3 points Inflation, exchange rates, interest rate -3 In the bad situation but under the control of the state , -3 points Entrance barrier -3 Average, -3 points IS variables 5,66 Sector growth speed Very good, points Important role to the economy Very important to economy , points 3.Sector capital size Big capital size, points We have: FS + ES = – 2.5 = 0.5 IS + CA = 5.66 – 2.5 = 2.16 Plot these scores on SPACE matrix, SUREE´s strategy locates at: 66 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Figure 3.1: SUREE SPACE matrix FS Aggressive CA -6 -5 -4 -3 -2 -1 (0.5, 2.16) IS -1 -2 -3 -4 -5 -6 Source: Team Analysis The above figure shows that the SUREE´s strategy needs to be as below: In the current context, SUREE must choose the aggressive strategy The other strategies like being conservative, defensive, competitive are impossible and will make SUREE loose the opportunities for development 3.1.4 IE Matrix analysis From EFE and IFE matrixes above: - Score from the EFE matrix - score to be plotted on the y-axis is 3.1 - Score from the IFE matrix score to be plotted on the x-axis is 2.6 67 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Figure 3.2: SUREE IE matrix EFE score strong average weak 3.1 Grow and Build I II III Grow Hold And and IV V n Hold Harvest And or VI Divest VII VIII Maintain IX Harvest Or 2.6 high Build Mainta medium low Divest IFE score Source: Team Analysis SUREE has its intersection in cell II It reveals that SUREE should apply the growth and build strategy It can be intensive and aggressive tactical strategies focusing on market penetration, market development, and product development 3.1.5 Alternative strategies for SUREE The analyses through SPACE matrix, IE matrix have the same conclusion SUREE should have “grow and build” and aggressive strategies Therefore from SWOT matrix, we can define SO alternative strategies for SUREE as follow: SO: S1,S2,S3,S4,S5+O5,O8,O9,O10,O12,O13: Focus strategy to make SUREE become a professional entity to serve customers who like transparency, full packaged product and professional services S2,S3,S4,S5+O5,O8,O9,O10,O11,O12,O13: Product development strategy by designing and developing all real estate services through collaborating with other professional entities in order to provide high quality services and using e-commerce for selling products of housing projects for investor customers 68 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM S2,S3,S4,S5+O5,O1,O2,O3,O4,O5,O6,O8,O9,O10,O11,O12,O13: Market development strategy by broadening distribution networks through using SUDICO´s trademark and customers, and cooperating with partners to implement services to the customers 3.1.6 QSPM Matrix analysis to select the best alternative strategy QSPM matrix is an useful tool which permits experts to assess the alternative strategies Selecting the strategies through QSPM matrix for SO is presented below: Table 3.4: QSPM Matrix Alternative strategies Factors Weight Focus Product Penetration AS TAS AS TAS AS TAS Internal factors Product availability for sales 12 12 Capacity, skills, professions of staff 12 Compensation for staff 2 4 Financial capacity 3 9 Brand name 4 16 16 16 Marketing strategies 3 12 Distribution network 6 Management group 6 Recruiting mechanism and training programs 2 3 3 10 Value added service packages for clients 12 12 4 4 3 External factors Political environment 69 Remark GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Alternative strategies Factors Weight Focus Product Penetration AS TAS AS TAS AS TAS Legal regulations 4 4 4 Economic growth and foreign investment 3 9 12 Volume of real estate projects of Hanoi 8 Urban population and urbanization 6 6 Demand for real estate investment and usage 3 9 12 Customer’s taste 12 Technological development 3 9 9 Number of real estate agencies 12 12 12 10 Market penetration of companies 12 12 12 Total attraction scores 155 177 Remark 167 AS is attraction score, TAS is total attraction score We give the priority to product development strategy from SO strategy group as its TAS equals to 177 and it is the highest score The selected strategy for SUREE is: Product development strategy by designing and developing all real estate services through collaborating with other professional entities in order to provide high quality services and using e-commerce for selling products of housing projects for investor customers Target market: Customers wishing to sell and lease out products: SUREE will focus on residential housing and urban area project owners in the north and in Hanoi They are those owning large scale and large capital investment but lacking capacity in 70 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM marketing, promotion, sales and after sales services or having not focused on them at present In 2-3 years time, there will be many finished projects in Hanoi with thousands of products to be offered The sales competition will be very tough then SUREE would not compete with foreign real estate agencies in the segments of foreign invested projects which are sold or leased out mostly by foreign agencies However, if the projects approach SUREE, it will take the chance to offer them trusted service and good market knowledge Customers wishing to purchase or rent products: Focus will be placed on customers who already bought or rented SUDICO products or wish to own or use more SUREE will also extend customer network to Song Da Group staff, SUDICO branches’ staff, and high income customers who are leaders from securities, banking and insurance sectors 3.2 Some solutions for SUREE business strategy execution 3.2.1 Model/structure building solution In order to implement the strategy effectively, SUREE shall propose to SUDICO to change the structure and allow it to be proactive in its own business with an open target mechanism, to attract more qualified employees and encourage staff to work effectively by good compensation at the same time SUDICO should create a chance for SUREE to have a certain capital in order to build the organization, develop networks and implement marketing strategies and attract clients as well SUREE should build a suitable compensation scheme to stimulate employees to work effectively and link the performance with staff’s income 3.2.2 Capacity building solution SUREE should recruit enough qualified employees for the departments that SUREE still lack of staff such as marketing, valuation, customer and market investigation It is necessary to set up an expert group of market consultation and marketing to serve the sales activities SUREE should keep on cooperating with training organizations like Vietnam 71 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM Marketing Association and send employees to the selling skill courses, management courses and marketing courses SUREE should review and improve current processes which are being used with the application of LEAN, 5S, 6Sigma, ISO 9001 standards in recruitment, training, brokerage, and customer service IT system should be used fully in management and operation effectively 3.2.3 Marketing solution For SUREE, this solution is a priority and it is expected to spend around 6% of revenue in Marketing & PR Multimedia advertisement: - Television: Produce short clip about SUREE and broadcast on popular TV channels domestically - Newspapers: Select newspapers relating to real estate investment, architecture and foreign customers like: Heritage, Vietnamworks, Vietnam Investment Review etc - Core Media: Establish a familiar group of reporters to transmit the information of SUREE and SUREE´s ongoing projects regularly The reporters should be specialized in real estate, investment, finance, and economics - Internet: Develop website for SUREE, for each project and link banner advertisement on SUDICO´s website and other domestic and foreign websites Continue advertising on www.vatgia.com/batdongsan for sales Direct advertisement to customers: - Send email/postal mails to loyal and potential customers introducing company’s new projects - Hold events and meetings for customers and press on important occasions like inauguration or completion of samples apartment of ongoing projects - Participate in trade fairs and exhibitions of real estate 72 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM - Hold periodical conferences for close customers, creating good relation between the agency and clients - Continue taking care of potential buyers and customers - Advertise SUREE on new projects at the public area in SUDICO finished projects like lifts, outdoor banners Advertisement at project site: - Put banners, billboards providing information of SUREE at the project site - Put apartment samples at or near the project site to create direct perception for customer Events and sponsorship: - Hold seminars on investment, new product introduction and market assessment report - Write article and sponsor publications of real estate 3.2.4 Good services solution In providing services like real estate advertisement, market investigation, marketing and sales, management and other value added services, SUREE will collaborate with domestic and foreign professional companies to provide a comprehensive packaged services for investors commercial housing projects It should establish strategic partners like design, architecture, internal & external decoration, marketing, miniature manufacture companies as well as real estate agencies with large distribution network that Surre has not collaborated with 3.3 Execution plan 2010 -2011 period: - Set up clear vision and mission - Set up advanced management system and apply new and advanced IT technology in management and operation - Select qualified employees for job requirements Focus on recruiting person with experiences, high qualifications, enthusiastic, having worked 73 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM in similar field for foreign companies Use people who are good at communication skill to sell products and build network - Set up suitable scheme of compensation and reward for employees - Focus on developing the next level staff below the core staff, deliver training and hands-on training so they will be prepared for the next period - Build professional, transparent and regularly improved management system - Make full use of creativity of individuals and groups to make highest profit for the agency with the best reward scheme - Create competitive environment to promote capable, devoted and determined individuals based on their actual performance - Set up an internal atmosphere as a family and share information to all members - Set up a trademark recognition kit and SUREE culture 2011-2012 period: - In this period, focus on developing packaged services Continue to promote advertisement so SUREE is widely known as the exclusive distributor of SUDICO project products Simultaneously, diversify the sources of products offered in the agency - Provide the housing and real estate services for other investors’ projects - Develop consulting services in investment, market research and assessment for real estate projects - Develop IT strongly to obtain the most efficiency - Apply strong unique but economical PR - Set up a sales group who is capable of consulting and selling services to customers - Set up strong research group (valuation and consultation) - Organize systematic training programs 74 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM 2013-2015 period: Develop agents/agency networks at SUDICO projects as well at other investors’ project and exploit potential customers in these areas Yearly expenditure plan: Table 3.5: Yearly expenditure plan Unit: VND Million No Item Initial investment cost 2011 306.7 2012 899.2 2013 3,168 2014 3,168 2015 2,828 Office, operations cost 1,020 2,352 5,904 9,380 11,664 PR & marketing cost 380 1,200 2,400 3,240 4,320 Total cost 1,620.5 4,451.2 11,472 15,792 18,812 Total expected revenue 6,000 12,000 36,000 60,000 72,000 Source: Group discussion with SUREE management 75 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM CONCLUSION Building strategy is very important for enterprises in Vietnam now because the integration and development trend offer both opportunities and threats The competition among units in the same sector is also becoming more severe Due to the science and technology advances and market opening, the world has become flatter and required enterprises to develop their core competencies, develop their own strategy for sustainable growth Strategy determines the success or failure of an enterprise especially for new enterprises It is even more important for SUDICO Real Estate Exchange when it has many parallel advantages and difficulties Building strategy is a hard job for enterprises and implementing strategic management is even harder Implementing its strategy in an ever-changing environment of different factors requires the strategy maker to master the market trends and strategic management knowledge Given the limited time while the knowledge and experience in the field of real estate services are also very limited, SUREE director and group members have received invaluable support from Griggs School’s professors and teachers in strategic management faculty to complete this report The group highly appreciates it and looks forward to receiving comments from teachers and friends to improve this strategy The contribution of the report and its comments will not only help the group members to have a logical arguments but also help a newly established unit of 17 staff advance to further developments Thank you very much! 76 GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION PROGRAM REFERENCES Vietnamese: Le The Gioi, Nguyen Thanh Liem, Tran Huu Hai (2007), Strategic management, Statistics publisher, Hanoi Nguyen Thanh Hoi (1999), Human Resources Management, Statistics publisher, Hanoi Vu Trong Khai, Lam Ngoc Diep (1996), Company organization and management, Statistics publisher, Hanoi Sacombank Securities Company (2010), Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SJS) report, Hanoi Song Da Urban & Industrial Zone Investment and Development Joint Stock Company, Audited report 2006, 2007, 2008, 2009, Hanoi Song Da Urban & Industrial Zone Investment and Development Joint Stock Company, Quality control system ISO 9001:2000, Hanoi Website of Construction Ministry tttp://quanlynha.vietreal.net.vn/Desktop.aspx/Home/ Website of General Statistics Office of Vietnam http://www.gso.gov.vn Website of Hanoi Construction Department www.soxaydung.hanoi.gov.vn 10 Website of Song Da Urban & Industrial Zone Investment and Development Joint Stock Company www.sudicosd.com.vn English: Chandler, A (1962), Strategy and Structure Cambridge, Massachusetts MIT Press Charles, Hill and Garth, Jone (1995), Strategic Management, Washington CBRE Vietnam (2010), III Quarter 2010 report , Hanoi J David Hunger & Thomas L.Wheelen (2001), Essentials of Strategic management M.E Porter (1980), Competitive Strategy, Free Press New York 77 ... Advanced Master of Business Administration Program for having successfully organized courses for GaMba.X0309 class The courses have provided and completed our knowledge and experience in all important