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GRIGGS UNIVERSITY GLOBAL ADVANCED MASTER BUSINESS ADMINISTRATION PROGRAM CAPSTONE PROJECT REPORT ESTABLISHING BUSINESS STRATEGIES FOR THIEN PHUC MINH JOINT-STOCK COMPANY PERIOD 2011-2015 Class: GaMBA01.N05 Group Number Nguyen Tuan Anh Nguyen Thi Tu Nguyen Pham Huu Duy Nguyen Quoc Huong HA NOI 2011 GaMBA01.N05 – Group Strategic Management TABLE OF CONTENTS LIST OF ABBREVIATIONS .3 LIST OF TABLES, FIGURE INTRODUCTION Significance of the study 1.1 General introduction: 1.2 Significance of the study Purpose of the study Study methodology Capstone Project Report Structure CHAPTER LITERATURE REVIEW .9 Definitions: .9 1.1 Definition of business strategy 1.1.1 Strategy .9 1.1.2 Business Strategy .9 1.2 Roles of business strategies .10 1.3 Types of business strategy .11 Strategy building process .12 2.1 Deriving from company’s mission and goal 12 2.2 Analyzing and evaluating external environment .12 2.2.1 Microenvironment .12 2.2.2 Micro environment 14 2.3 The business internal environment analysis .19 2.3.1 Human resources .19 2.3.2 Financial capacity 19 2.3.3 Operation management 20 2.3.4 Marketing 20 2.3.5 Administration 20 2.4 Strategic management tool: SWOT matrix, IE matrix .21 2.4.1 SWOT matrix 21 2.4.2 IE matrix 22 Chapter THE ACTUAL SITUATION ANALYSIS OF THIEN PHUC MINH JOINT-STOCK COMPANY (TPM) 24 2.1 The introduction of Thien Phuc Minh JSC .24 2.1.1 Company name, structure, history and development process 24 2.1.3 Performance report, 2009 – 2010 26 (Source: Annual business performance report 2009 and business planning 2010) 27 2.2 Analysis of Macro environment (PESTLE model) 27 2.2.1 Technology, Social – Cultural, Political - Legislation 27 2.2.1.3 Economy: .29 2.2.1.4 Social – Cultural: 30 GaMBA01.N05 – Group Strategic Management 2.2.2 Globalization 30 2.3 Analysis of industry environment (PORTER model) 32 2.3.1 Current competitors 32 (Source: Market analysis reports of TPM, 2010) 34 2.3.2 Substitute goods .34 2.3.3 Bargaining power of consumers .35 2.3.4 Bargaining power of suppliers 36 2.3.5 Potential Competitors .36 2.3.6 Opportunities 36 2.3.7 Threats 37 2.4 Analysis of internal environment 37 2.4.1 Organization – Human Resource .37 2.4.2 Production facilities & raw material areas 38 (Source: Market analysis reports of TPM, 2010) 40 (Source: Market analysis reports of TPM, 2010) 40 (Source: Market analysis reports of TPM, 2010) 41 (Source: Market analysis reports of TPM, 2010) 42 2.4.3 Distribution channels: 42 2.4.4 SWOT analysis: 43 CHAPTER PROJECTED BUSINESS PLAN FOR TPM DURING 2011-2015 49 3.1 Development objectives: 49 3.2 Selecting strategy .49 3.2.1 EFE analysis: .49 External Factor Evaluation Matrix (EFE) 49 Interal Factor Evaluation Matrix (IFE) 51 3.3 Strategic solutions 53 3.3.1 Marketing mix strategy 53 3.3.1.1 Product .53 3.3.1.2 Promotion 53 3.3.1.3 Place 54 3.3.1.4 Price 54 3.3.2 Human resource strategy 54 3.3.3 Production strategy 56 3.3.4 Other strategies 57 3.3.5.2 Micro activities .58 3.4 Action plan .58 CONCLUSION 60 References 62 LIST OF ABBREVIATIONS STT Abbreviation Name GaMBA01.N05 – Group 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 TPM VNF1 ST CH CTCP DN EFE IFE DNNN DNTN TTTM DT LN CF GDP KHKD KTTT KT-XH Strategic Management Thien Phuc Minh Vietnam Northern Food Corporation Supermakets Shops Joint Stock Company Company External effective factor Internal effective factor State company Private company Trade center Total profit Net profit Cost Gross domestic product Business plan Market economy Economy – Society LIST OF TABLES Table number 01 02 03 04 05 06 07 08 Table name Profit and loss statement 2009-2010 Compurgation to domestic retail competitors Product structure – Convenience store Convenience stores’ location Starting product sector- Supermarket Location and construction plan- Supermarket Swot analysis Selected strategies Page 25 32 38 39 40 42 43 46 GaMBA01.N05 – Group 09 10 Strategic Management EEF martrix of a TPM IEF martrix of a TPM 50 51 LIST OF FIGURE Figure number 01 02 03 04 05 06 07 08 09 Figure name Five competitive driving forces of M Porter Combining factors of macro environment and micro environment EFE Matrix IFE Matrix SWOT Matrix IE Matrix The company chart I – E martrix, a total martrix of internal and external factors of TPM Connection of Evaluation system Page 14 17 18 20 21 22 24 53 56 INTRODUCTION Significance of the study 1.1 General introduction: Thien Phuc Minh Joint-stock Company (TPM) was established on January 2008 on a footing of 15 founders from Vinafood I joining capital TPM’s main business activity is to distribute consumer goods and set up a retail chain throughout the northern area of Vietnam, from Hue northwards One year after the establishment of TPM, all ordinary shareholders and strategic counterparts were offered to join With the strategy to mobilize all strength of social resource, TPM set out a target of attracting strategic shareholders that are companies with years of experiences in the field of retail distribution, or those who committed to build a long-term relationship with TPM based on a firm binding to the sustainable development of both side GaMBA01.N05 – Group Strategic Management 1.2 Significance of the study As a newly established company, TPM hasn’t had a complete strategy for its development Thus, to be engaged in research into such strategies has a tremendous meaning to the company’s accomplishing its target to build a modernized commercial business model A proper research into strategies would facilitate TPM in attaining an up-todate business model, creating a premise for a sustainable development and a stepby-step assertion of position and brand in the consumer goods retail market Purpose of the study The purpose of this study is to identify proper business strategies that assists TPM in realizing its vision of standing among the top 10 retail companies in Northern Vietnam The retail field is truly a business environment with high competitiveness and full of challenges and difficulties Moreover, it is also an environment in which not many retail companies in the Northern area have been able to gain noticeable success Rivals are not only just specific companies but also a sizable system of grocery retail outlets pervading every corner with great competitive strength Therefore, with the desire to find a proper strategy for the company, after a course of study at Griggs, members of the group have applied their learnings to establish business strategies for TPM Company by logically analyzing, methodically defining problems, focally solving, correctly grasping target customers, threats, and rivals Thence, appropriate strategies for goods, price, marketing, human resource have been produced These strategies play a decisive role in conditioning the company’s growing progressively, effectively and approaching closer to professionalism GaMBA01.N05 – Group Strategic Management Study methodology The study process had knowledge on strategic management, marketing management, human resource management, economic management, and operation management used This study was carried out by methods of problem identification, study, analysis and solving This study utilized following materials: Field survey, documentation of the General Department of Statistics, study reports of retail market of Vietnam, figures from articles reflecting the business situation of internationally renowned retail corporations that have been operating in Vietnam, such as Metro Cash & Cary (Germany), Bourbon (France), Parkson (Malaysia), Zen Plaza (Japan) Analysis tools: PESTLE, PORTER model, SWOT analysis, QSPM With the reasoning basis adopted through MBA training program of Griggs in coordination with practical experiences, survey results, market surveys, and opinions of lecturers, we, in co-operating with the company, have linked theory with practice to complete this strategy report Capstone Project Report Structure Introduction Chapter I : Reasoning basis Chapter II : Analyzing the situation of Thien Phuc Minh Joint-stock company Chương III : Proposing strategies for Thien Phuc Minh Joint-stock company, period 2011 – 2015 Conclusion GaMBA01.N05 – Group Strategic Management GaMBA01.N05 – Group Strategic Management CHAPTER LITERATURE REVIEW Every company after being established and starting its business always sets a development target for itself Depending on business characteristic, goal, and vision, each company has its own way of approaching and creating a business strategy Hereafter, we would like to introduce a popular methodology used to build and select business strategies by companies in their process of creating business strategies Definitions: 1.1 Definition of business strategy 1.1.1 Strategy Strategy is a set of activities designed to create sustainable competitive advantage According to McKinsey (1978), strategy is a plan of controlling and utilizing organizational resources such as finance, personel, risk limitation to measure the business efficiency of particular sector, market, or to mobilize supplement capital from credit organizations or individuals; therefore, it is necessary to work with a plan in order to enhance and ensure the vital rights of a company Strategy is everything that an organization has to based on its strengths and weaknesses in the context of opportunities and threats A sound strategy will bring effectiveness helping managers define goal, thorough course of action, which creates values for employees and shareholders 1.1.2 Business Strategy Business strategy of a company is that company’s long-term direction and scope with the purpose of achieving competitive advantage through its own resource configuration in the context of changing environment to meet the market demands and satisfy expectiations of all parties Business strategy does not aim to GaMBA01.N05 – Group Strategic Management point out a specific method to attain those targets because that is the mission of many other supporting programs and functional champagne Business strategy only creates frames to guide thinkings about business direction and to act In business operation of a company, the existence and success depends, first and foremost, on the rightness of the strategy outlined and the properness of strategy enforcement A company that implements its business strategy well has basis advantages and effectiveness compared to ones that not: Having a business strategy helps company clearly define its purposes and directions in business activities Only then can it determine which direction to organize its business structure, what it should to reap successes, and when the company will be able to achieve the objectives identified 1.2 Roles of business strategies Role in planning: Business strategy helps a company clearly identify its purpose and direction for the future; orientate long-term businesses, which is a solid basis for the implementation of the operation, helping administrators to know, review and orientate the direction, the method, and the time when outcome is achieved Role in forecasting: In the globalization trend, business environment always vacillates, hence the analysis of environment and the build of business strategies helps administrations plaintly recognize opportunities as well as threats, recognize strengths and also weaknesses in their company From that point, they can analyze, evaluate, and forecast future environment conditions to bring out appropriate strategies, make the most of their opportunities and strengths, alleviate threats and weaknesses, and help their company overcome all difficulties, challenges to gain success Role of controlling: Business strategy helps administrators utilize and allocate resources reasonably, make decisions appropriate to particular conditions of business environment, increase the close-knit association among employees, strengthen the prevention of jeopardies occurring, avoid financial risks, enhance the 10 GaMBA01.N05 – Group Strategic Management utilize the market potential 48 _ GaMBA01.N05 – Group Strategic Management CHAPTER PROJECTED BUSINESS PLAN FOR TPM DURING 2011-2015 3.1 Development objectives: TPM tries to make the most of their strengths to achieve a long-term goal, which serves three main objectives: (1) Define potential customers that TPM targets, which will determine the retail model (2) Define the suitable retail model to provide goods and services to its targeted customers (3) Define which investing and operating method TPM will use to maintain the competitive advantage with other retailers (in both short-term and longterm) 3.2 Selecting strategy 3.2.1 EFE analysis: External Factor Evaluation Matrix (EFE) EFE matrix refers to a model used to assess external factors which can either be opportunities or risks that may impact on an enterprise’s performance It helps a manager to know how his enterprise reacts to those opportunities and risks (or external factors) Moreover, it can tell if the opportunities and risks are advantageous or disadvantageous for the enterprise Steps to build a EFE matrix: 49 _ - GaMBA01.N05 – Group Strategic Management Make a list of opportunities and risks that are likely to influence on the enterprise’s performance - Sort out the opportunities and risks following to a point scale of from 0.0 (not important) to 1.0 (very important) The importance of an opportunity or a risk depends on its influence on the sector that the enterprise works in - Determine a weight of an opportunity or a risk following a 1-4 point scale A weight depends on how the enterprise reacts to a factor - Multiply the importance of a factor and its weight for a respective number - Add the results of all factors for the matrix mark The higher the total mark is, the better the enterprise reacts to opportunities and risks Table 09: EFE matrix of a TPM (Source: authors’ calculation) No 10 External Factor Evaluation (EFE) Tax reform New agricultural technology Increased interest rate Changing in consumer behaviors The appearance of retail giants Financial crisis Urban expansion WTO Better suppliers Nature Weight Rating 0.08 0.10 0.05 0.18 0.09 0.10 0.05 0.04 0.11 0.20 1.00 3 2 3 Weighted Score 0.24 0.40 0.10 0.54 0.27 0.20 0.10 0.12 0.33 0.40 2.70 * Comments: The total mark of 2.70 (compared to the average level of 2.5) shows the TPM’s reaction to opportunties and risks as external factors is above the average level Additionally, factors such as hard competition with powerful brands and sale distribution systems are desicive for the development of a TPM However, the reaction to such factors hasn’t be strong enough Therefore, a development strategy must focus on improving Vinacomin’ reaction to the above-mentioned factors 50 _ GaMBA01.N05 – Group Strategic Management 3.2.2 IFE analysis Interal Factor Evaluation Matrix (IFE) Internal factors are important for the develolment strategy of an enterprise More importantly, how can a strategist accurately detect what strong and weak points of the enterprise are and how its internal factors react to changes To give an asnwer to these questions, an IFE matrix is widely used Steps to develop an IFE matrix - Make a list of strong and weak points that may impact on an enterprise’s performance Classify those strong and weak points following a point scale of from 0.0 - (not important) to 1.0 (very important) The importance of a strong or a weak point is assessed by its influence on the enterprise’s performance The total points of the importance of the strong and weak points should be Determine a weight of each factor following a 1-4 point scale - Multiply the importance of a factor with its weight for a mark of each factor - Add marks of all weights to know a total mark of the martrix The enterprise with a high mark for a matrix shows its internal factors are highly responsive to challenges Table 10: IEF martrix of a TPM (Source: authors’ calculation) No 10 Internal Factor Evaluation (IFE) Increased productivity New personnel structure Better after-sales service Bigger budget for R&D Joining the retail association Commitment of leadership Brands are protected New foreign partnership New offices High job quit rate 51 Weight Rating 0.07 0.06 0.04 0.05 0.03 0.10 0.20 0.30 0.05 0.10 4.00 3.00 3.00 2.00 2.00 3.00 4.00 4.00 3.00 3.00 Weighted score 0.28 0.18 0.12 0.10 0.06 0.30 0.80 1.20 0.15 0.30 _ GaMBA01.N05 – Group Strategic Management 1.00 3.49 *Comments: A total mark of 3.49 tells TPM is beyond the average level in terms of generally internal strategic position The enterprise should seek solutions to deal with the weak points importat for its performance such as conducting a large advertisement compaign of its commerical brand for extended markets, strengthening its distribution systems in a more professional way, 3.2.3 I - E analysis Thanks to the marks of IFE and EFE martrix, the group members build an IE matrix to accurately identify its strategic position The total mark of the IFE martrix horizontally is 3.49 and the total mark of the EFE vertically is 2.70 Connecting those two points to identify TPM’s strategic position EFE scor e 4.0 Stron g Average Weak I II III High IV V VI Mediu m VII VIII IX Low k 3.0 2.0 1.0 4.0 3.0 2.0 1.0 IFE score Figure 08: I – E martrix, a total martrix of internal and external factors of TPM (Source: authors’ analysis) From the I-E martrix, it can be seen that the strategic position of TPM is 52 _ GaMBA01.N05 – Group Strategic Management highlighted blue, therefore TPM should have a developmental strategy of its own When combining it with SWOT martrix as analyzed previously, TPM should select SO strategy as it is leading in terms of low expences, retail sales, development of product distribution system, and investment in retail distribution systems in the Northern provinces in Vietnam 3.3 Strategic solutions 3.3.1 Marketing mix strategy 3.3.1.1 Product All of the food that has been distributed in traditional way are having a high possibility of containing pathogen resulting from residue of plant protection, excess preservative, and mildew that consumers can hardly realize As a result, quality issues need to be considered carefully This consideration requires tight control over the production process, from buying raw materials to maintenance and produce 3.3.1.2 Promotion The product strategy alone is not enough; investment in factors outside the product decides 80% of the success to bring the product to the customer * Participate in fairs and events organised by the government and Hanoi committee * Establish manuals analysing the danger of using unsafe food, and helping consumers recognize the risk of unsafe products * Word of mouth marketing: through company’s customers * Develop attractive advertising programs to target customers to launch them on major television channels, radio, newspapers and e-newspapers * Advertising using electronic tools: e-mails, text messages 53 _ GaMBA01.N05 – Group Strategic Management * Organize advertising campaigns in supermarkets, shopping centers, fairs, shopping festivals, sponsor gifts bearing the company’s logo to famous hotels and restaurants 3.3.1.3 Place From Nghe An province to the Northern area, develop modern distribution channels, creating the most convenience way for consumers, home delivery, actively exploiting sales channels over the phone, online, constantly keeping the picture of the company through people, processes and other physical expressions, unite throughout the system Develop after-sales services: care, counseling, replace defective products, customers’ familiar card, VIP card, birthday, wedding 3.3.1.4 Price Based on the emphasis on quality, from the close study of the market prices of competitors (both brand and distribution channels), TPM commits to keep the average price in the high range, while still maintaining high quality On the basis of product chain has been built, VNF1 establishes a clear pricing mechanism, and has specific strategies for each line For examples: • Popular product line, easily comparable and highly competitive over price; TPM builds low rate of profit, even no profit in certain stages to create customer loyalty • Advanced product line, due to the high difference, need to be priced on the basis of high profit in order to generate profit to the company In addition, promotions, sales promotion, marketing must be combined harmoniously and effectively together to pull consumers towards the products of TPM, help it achieve its goals 3.3.2 Human resource strategy 54 _ GaMBA01.N05 – Group Strategic Management With TPM, the aim to become the leader in the field of production and distribution of food on the market, it must build human resource strategy given that customer is the center and the employee is the operator One of TPM advantages is to have human resource experienced in the field of agricultural products, knowledgeable in the field of management, modern trade business, understanding the market of agricultural products in general, food market in particular; especially in the area of clean food (production techniques, skills, ability to cooperate with others ) is even more scarce.) In order to gradually bring the company to stable operation, achieve objectives, TPM must focus on building organizational chart structure, human resource plan to organize the recruitment, selection and training from key positions to other professional levels so that the company would quickly go into operation In the course of operation, the company pays a lot of attention on selecting personnel It has developed and introduced the recruitment processes based on analysis of the positions of each division, function rooms from which provide job descriptions and professional requirements to control the entire recruitment process for the company The core problem is to build a system for evaluating job performance with comprehensive relationship, closely with other factors such as compensation policy (financial and non financial), motivation and the training and development plan Job description Salary EVALUATION SYSTEM Awards and punishments Motivation Figure 09: Connection of Evaluation system 55 Job requirements Traning and development _ GaMBA01.N05 – Group Strategic Management Companies must step by step review compensations including direct financial remuneration, indirect financial remuneration and non-financial compensations, review revenue and consider production costs to adjust the actual compensation policy At the moment, although TPM has paid lots of its intension on compensation policy, due to the short time setting, and the company's limited resources, soon it will be adjusted according to the market, fair to employees, able to motivate employees, make employees to have long commitment with the company Develop and implement the provisions of the enterprise culture: rules and guidelines in the implementation of specific communication, behavior, enhance the role of employees in all activities, create excitement for their work, encourage initiatives and appreciate the creations of the staff Strengthen solidarity towards the same goal, establish a friendly environment and commit to employees development Create democratic atmosphere with long-term goals to promote all staff to support and maintain a new style of leadership Create a highly and fairly competitive environment, always be conscious learning, improved methods to meet the requirements of the job and improve effectiveness Building a detailed list of the management issues and supervision for the daily work concerning HR.; ensuring effective implementation of the coordination meeting exact needs of the professional division; and advising the leader in longterm development plan 3.3.3 Production strategy As a business operating in the fields of manufacturing and distributing high quality products, TPM should focus on: - Forecasting demand: TPM has gathered data, analyzed, connected marketing, sales, planning … with each other; and predicted demand for products of the company From these predictions, it creates plan for reserving materials, 56 _ GaMBA01.N05 – Group Strategic Management operating production, which minimizes cost, eliminates costs not beneficial to enterprises such as waste of unreasonable inventories, and waste in production caused by not appropriate machinery Employees may be proficient in skills and awareness is not high, causing a high rate of product failure Or in the supermarket business, find out the reasons for reducing the rate of loss of retail from the current 1% to 0.25% during the period of to years … - Increasing productivity, lowering production costs and promote technical innovations: explore, identify the causes of reduced labor productivity from which to find solutions to increase labor productivity of the unit, lowering production costs; putting equipment into operation to replace manual labor (auto-production, packaging, product classification) and also keep hygiene and food safety at the factory suitable with goals - About product quality management: The company should continue to consolidate and improve the production process, quality management aims to improve the quality of products produced by the company such as arranging production layout, applying modern methods of production JIT / Lean on production, using 5S programs, or apply quality control by HACCP, ISO 9001/22000 3.3.4 Other strategies Besides, to achieve the strategic objectives, TPM must have other functional strategies: Financial Strategy – To effectively operate the financial activities of the company, promoting the existing resources, and mobilize external resources, improve efficiency of capital use, profit rate, Here is what TPM of interest Investment strategy - with the advantages of land ownership from Ha Tinh to the Northern area, to maximize the strength of these advantages to support the distribution system of the company, TPM also needs a effectively long term investment strategy 3.3.5 Other suggestions 57 _ GaMBA01.N05 – Group Strategic Management 3.3.5.1 Macro policy: Develop and implement macro policies relating to the operation of the company, regularly updated, adjusted to suit the realities of the market as well as operation of the business 3.3.5.2 Micro activities Business activities of enterprise organizes and operates following the approved strategy They are also a basis for TPM to develop annually, quarterly, and monthly action plans, business plans; and take them as the short-term goals 3.4 Action plan Development plan for TPM is given based on averall market research on retail in the North Plans are designed to perform in the first years of construction, completion and development of TPM Time Plan - Complete and approve detail plans for years - Recruit key personnels Quater I- - Key personnels are responsible for recruiting enough employees to II work for their funtional divisions (2011) - Complete management and information system - Prepare area for retailing in 2011 - Form distribution center and rough-wrought center - The rest of year and the following years will follow this plan : Year Year Year Year Year Development plan Shopping Supermarkets malls 0 58 Shops 13 18 22 _ GaMBA01.N05 – Group Strategic Management Year 0 Total 12 53 59 _ GaMBA01.N05 – Group Strategic Management CONCLUSION The purpose of the research: determining business strategy for TPM Jsc, with the goal of becoming the top 10 retailers in Vietnam With strategic objectives bind to agricultural products and consumer goods and retail distribution systems, TPM’s business strategy are: - Compliance with common trend of the economy when joining WTO - Compliance with the development strategy of the Goverment - A springboard for the company to develop business flexibility and independence in the long term - Contribute to improving the value of agricultural products and consumer goods in Vietnam - Penetrate the world market through the international retail channel in Vietnam The problem with TPM is to develop retail chains with stable quality and good service With strategic analysis, in order to bring the power of retailer, with quality strategy , improving the quality of services towards a better service to become the competitive advantage of TPM in the market Although distribution and retailing of agricultural products area has a high potential, it also contains many potential risks, which requires the top management of the company to have strong determination, consistent with their goals; all fluctuations, lack of commitment may lead to failure Modern distribution market for retail is a new field with the TPM, human resources knowledgeable in this area are still lacking so that if company does not make good human resources management, short-term, medium term and long term investment planning, it will face more difficulties and failures are inevitable In a highly competitive market and strongly influenced by consumer behavior has formed long-standing, beside quality issues, marketing is very urgent Besides human strategies, building new image of the business in public through all phases of business processes to influence perceptions and behavior of consumers, 60 _ GaMBA01.N05 – Group Strategic Management the company set top concern to quality strategy through researching advanced technologies such as breeding, storage and processing This is a core value to the company for attracting customers Any delay or subjective may cause the competitors beyond the front 61 _ GaMBA01.N05 – Group Strategic Management References Alex Miller (1998) Strategic Management 3rd Ed Irwin/McGraw-Hill Charles W.L Hill, Gareth R.Jones (2002) Strategic Management : An intergrated Aproach, 5th Ed Houghton Mifflin Peter Wright, Mark J Kroll, John Parnell (1996), Strategic Management : Concepts and Cases 3rd Ed Prentice Hall Thomas L Wheelen, J David Hunger (2004) Strategic Management and Business Policy 9th Prentice Hall Thompson Strickland, (1998) Strategic Management : Concepts and Cases, 10 th Ed 62 ... strategies for Thien Phuc Minh Joint-stock company, period 2011 – 2015 Conclusion GaMBA01.N05 – Group Strategic Management GaMBA01.N05 – Group Strategic Management CHAPTER LITERATURE REVIEW Every company... suitable products for each market, each retail outlets, to 47 GaMBA01.N05 – Group Strategic Management utilize the market potential 48 _ GaMBA01.N05 – Group Strategic Management CHAPTER PROJECTED... 60 References 62 LIST OF ABBREVIATIONS STT Abbreviation Name GaMBA01.N05 – Group 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 TPM VNF1 ST CH CTCP DN EFE