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CONTENTS LIST OF ABBREVIATIONS, LIST OF TABLES, LIST OF FIGURES .6 PREFACE 1.1 THE SIGNIFICANCE OF THE DISSERTATION .10 1.2 RESEARCH PURPOSES OF THE DISSERTATION 1.3 SCOPE OF THE RESEARCH .10 1.4 METHODOLOGY 10 1.5 STRUCTURE OF THE DISSERTATION 10 Chapter I - THEORITICAL BASIS .10 BUSINESS STRATEGY FOR THE ENTERPRISE .11 1.1 The Concept of business strategy 13 1.2 The Nature of business strategy 13 1.3 The Characteristics of business strategy 14 1.4 Generic business strategies………………………………………………… 15 1.4.1 The leading cost strategy…………………………………………………… 15 1.4.2 The making difference strategy…………………………………………….15 1.4.3 The concentrated strategy………………………………………………… 15 1.5 SETTING UP AND CHOOSING BUSINESS STRATEGY OF ENTERPRISE 16 1.5.1 Process of forming a strategy 16 1.5 Strategic vision, mission and objectives of the business .18 1.5.3 Business Environment 20 1.5.4 External environmental analysis 21 1.5.5 Sectorial environment of enterprises 22 1.5.6 Internal environmental analysis 23 1.5.7 Strategic Planning Method 26 Chapter II - STATUS OF VIGLACERA HA LONG I JOINT STOCK COMPANY 35 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 2.1 COMPANY INTRODUCTION .35 2.1.1 General introduction 35 2.1.2 Visibility, task and objective of the Company…………… .………………35 2.1.3 Business result and financial status of the Company from 2008 to June 2010 ………………………………………………………………………… ……36 2.2 MACRO ENVIRONMENTAL ANALYSIS AFFECTING OPERATION OF THE COMPANY 45 2.2.1 Economy .45 2.2.2 Politics 48 2.2.3 Culture and society .50 2.2.4 Technology 51 2.2.5 Population 51 2.2.6 Globalization .52 2.3 SECTOR'S ENVIRONMENTAL ANALYSIS AFFECTING THE COMPANY’S ACTIVITIES 53 2.3.1 Customer .53 2.3.2 Suppliers .54 2.3.3 Current competitors 55 2.3.4 Substitute products 57 2.3.5 New competitors 57 2.4 OPPORTUNITIES AND CHALLENGES 58 2.5 ANALYSIS OF INTERNAL ENVIRONMENT IMPACTING TO OPERATIONS OF THE COMPANY 64 2.5.1 Main activities .64 2.5.2 Support activities 68 2.6 STRENGTHS AND WEAKNESSES OF THE COMPANY 71 2.7 EFE ANALYSIS…………………………………………………………… 71 2.8 IE ANALYSIS 72 2.9 SWOT ANALYSIS 73 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 2.9.1 SWOT Matrix 77 2.9.2 Contents of the strategies 77 CHAPTER III CORPORATE STRATEGIC PLAN OPTIONS, SOLUTIONS, RECOMMENDATIONS AND CONCLUSIONS .82 3.1 CORPORATE STRATEGIC PLAN OPTIONS AND THE METHOD THEREOF 82 3.1.1 CRITERIA TO CHOOSE BUSINESS STRATEGIC PLANS .82 3.1.2 OPTIONS OF BUSINESS STRATEGIC PLANS 82 3.1.3 THE METHOD TO FINISH THE BUSINESS STRATEGIC PLANS 85 3.1.3.1 Objectives 85 3.1.3.2 Steps to finish 86 3.2 SOLUTIONS TO FINISH 86 3.2.1 Building a strong brand, strengthening the company image, promoting Marketing .86 3.2.2 Investment to strengthen the old production lines, implementing investment plans 87 3.2.3 Optimizing production processes to reduce management cost and improve roduct quality 88 3.2.4 Building and developing human resources with high-level management qualification, skilled technical worker force .88 3.2.5 Mobilize sufficient regulatory capital calculation and capital structure optimization for production and business activities .88 3.2.6 Role of the brand Viglacera for Viglacera Ha Long 1………………… 89 3.3 RECOMMENDATIONS 89 3.3.1 For Viglacera Company .89 3.4 CONCLUSIONS 91 REFERENCE DOCUMENTS .92 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 LIST OF TABLES Table 1.1: Summary of appropriate choices of generic business strategy 11 Table 2.1: Balance sheet of the Company of the year 2007, 2008, 2009 and 2010 36 Table 2.2: Business and production results of the Company in 2007, 2008, 2009 and 2010 41 Table 2.3: Financial items of the Company in 2008, 2009 and 2010 44 Table 2.4 The Customer reviews the companies 69 Table 2.5: Situation of human resources at the company in 2009 72 Table 2.6: IFE Matrix 74 Table 2.7: EFE Matrix 75 Table 2.8: SWOT Matrix 77 Table 2.9: QSPM Analysis 83 LIST OF FIGURES Figure 1.1: Business Strategy 10 Figure 1.2: The process of strategic planning 15 Figure 1.3: Macro environment 18 Figures1.4: PEST Model 19 Figure 1.5: The Five forces that shape industry competition 20 Figure 1.6: Value chain 23 Figure 1.7: SWOT Analysis Model 24 Figure 1.8: SWOT Matrix 26 Figure 1.9: IE matrix 29 Figure 2.1: Organization diagram of the Company 34 Figure 2.2: Financial operation result of the Company 39 Figure 2.3: Business and production result of the Company 42 Figure 2.4: Positioning the companies in the market 69 Figure 2.5: IE Matrix of the Company 76 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 LIST OF ABBREVIATIONS Abbreviation Interpretation GDP Gross domestic product ASEAN Association of Southeast Asia Nations AFTA ASEAN Free Trade Area WTO World Trade Organization SWOT Strengths – Weaknesses – Opportunities - Threats EFE External factor evaluation IFE Internal factor evaluation IE Internal-external factor evaluation QSPM Quantitative strategic planning matrix TTGDC Hanoi Stock Trading Center PREFACE BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 The significance of the dissertation: In the tendency towards the global economy, Vietnam is gradually moving from the centrally planned, bureaucratic economy to an integrated economy This transition and the international integration helps Vietnam have certain development From the accession to the World Trade Organization WTO, Vietnamese enterprises is catching new chances and facing the new challenges for their development and construction into a new height on the international market A series of the stateowned enterprises have been standing strongly and gradually asserted their roles Viglacera Ha Long Joint Stock Company is also one of the enterprises that have been transformed from the state-owned companies into the joint stock company, is one company specialized in producing the constructional materials like brick, clay An enterprise wants to be successful is required to follow the right direction; there are flexible and suitable changes with its business environment A right business strategy and a qualified team who are capable of organizing and implementing strategies to help company to catch, take advantage of opportunities and limit risks, develop their strengths, overcome the weaknesses in order to achieve the best profitability Viglacera Ha Long Joint Stock Company is a small and medium sized company, has just been transited to the form of equitization, severely competitive business environment, the establishment of business strategy for company is so much important However, due to many different reasons that this problem is less got interested A main reason is that the Company is a member of Viglacera Corporation The previous production plans were mainly based on the Corporation’s assignments Business strategies were mainly ceased at formulation and implementation of quarterly and annually business plans in line with the Corporation’s common plan The long-term strategic plans are sketchy and lacking of science Another reason is due to the lack of theoretical rationale, lack of constructing strategy skills Therefore the Company has not have business strategy with a right construing Stemming from the practical needs and having the desire to BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 apply knowledge at the working place where group’s members work Therefore, the group mutually select the topic of “To establish the Business Strategy of Corporation Ha Long - In the period of 2010 to 2015” as the dissertation of the group Research purposes of the dissertation Based on learned theory and application into the enterprise’s practice in order to improve production efficiency, lower costs, bring about higher profits for businesses, and enhance the value of the enterprise resulting in increasing the social efficiency To apply the theoretical basis, the analytical tools to build an appropriate business strategy for the enterprise To propose action plans to implement the strategy To propose solutions and recommendations for the company regarding the implementation of this strategy Objectives and scope of the research The researching objectives: Viglacera Ha Long Joint Stock Company Scope of the research: analyzing the production and business environment for constructional materials of the Viglacera Ha Long JSC, from which to build the business strategy of the constructional materials of clay for the Viglacera Ha Long JSC in period of 2010 to 2015 Due to limitation on time and scope of the learning process and requirements of the subject, we were only able to study deeply and build business strategies for current business lines of the enterprise but not to mention extension to other fields Methodology To apply direct methodology: Gather information from newspapers, magazines, the Internet The statistics from the published documents, the financial statements, balance sheet and business report in 2008, 2009 and first months of 2010, the rules, regulations, the strategies, and data of the Viglacera Ha Long Joint Stock Company BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 Additionally, to using method of analysis, synthesis, comparison in order to analyze the business activities of the Company Structure of the dissertation: THE DISSERTATION: "BUSINESS STRATEGY OF VIGLACERA HA LONG JOINT STOCK COMPANY IN PERIOD OF 2010 - 2015" INTRODUCTION: CHAPTER 1: THEORITICAL BASIS CHAPTER II: STATUS OF VIGLACERA HA LONG I JOINT STOCK COMPANY CHAPTERIII CORPORATE STRATEGIC PLAN OPTIONS, SOLUTIONS, RECOMMENDATIONS AND CONCLUSIONS REFERENCE MATERIALS CHAPTER 1: THEORITICAL BASIS BUSINESS STRATEGY FOR THE ENTERPRISE BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 1.1 The concept of business strategy Johnson and Scholes (Exploring Corporate Strategy) defined “the strategy” as follows: “Strategy means the direction and scope of an organization in a long run to gain competitive advantages for such organization through the formulation of its resources in an alternative environment, to meet market demands and satisfy the expectations of concerned parties” In other words, the strategy means: What is the enterprise trying to achieve in the long run (direction) What is the market that the enterprise is competing and what kinds of activities involved in such market? (market; scope) How can companies perform better than other competitors in such market? (advantages) What are the resources (skills, assets, finance, relationships, technical competence, facilities) needed to be able to compete? (resources) What are the environmental factors, external factors that influence on the competitive capacity of enterprises? (environment) Values and expectations of those who have power inside and around of the enterprise? (concerned parties) Levels of strategy in the enterprise The strategy exists at multiple levels in any organization - from the whole enterprise to each employees Strategy at the level of company - related to all purposes and scope of the enterprise to meet the expectations of the concerned parties This is a crucial level because it is strongly influenced by investors in the enterprise and led to make BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 strategic decisions throughout the enterprise Strategy at the company level is often evident in the “mission statement” Strategic at the level of business departments - more related to a method of successful competition in a specific market It concerns strategic decisions about choice of products to meet customer needs, gain advantages over competitors, exploit or create new opportunities Functional strategy - related to organization of each bodies of the enterprise, to bring to the level of company and level of business departments under a strategic direction Thus, the functional strategy focuses on issues of resources, processes, human resources 1.2 The nature of business strategy Similar to military strategy, competitive strategy of an organization are directed towards achieving a match between the capacity to differentiate and external environment in which participants compete However, compared to military strategy, business strategy is more complicated Unlike the military conflicts, the business competition does not always cause outcomes of the winners and losers The rivalry in the industry sometimes has the opportunity to improve strength and skills as the seeds of competition The value of the capacity to differentiate and bring competitive advantages for organizations can be reduced over time by the changing environment Because of this capacity, competitive strategy includes not only one but also a few different decisions It is important to continuously explore new opportunities, prevent and repel potential threats, overcome the current weakness and shift power to new fields (Figure 1.1) Every enterprise needs to respond to strategic decisions continually However, a number of strategic decisions can become more urgent and overwhelming in some certain period, it depends on the specific context 10 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 - Higher learning spirit - The compact management machine - Having good relations with the - State management agency Opportunity (O) Strategies (SO) Strategies(WO) Vietnam's economic SO1 - To maintain traditional WO1 Expand growth is relatively high markets investment to organize and stable; recovery of the SO2 - Expanding investment high-quality products world economy creates a and increasing the capacity WO2 high demand - The to provide - Strengthen management adjust manufacturer SO3 -Build the image of the marketing domesticalizes raw company materials to become company for a consumption sector in the highest quality development policy of providing manufactured products - Scope of work is a professional materials with WO3 priority to Training to improve the capacity of SO4 -Promote the capacity the sales staff - Manufacturing sector to of research staff to develop WO4 serve the essential needs new products for export – Assign responsibilities clearly of the economy with long- SO5 - The training develops, Build evaluating system term developing improve the capacity and of appropriate personnel opportunities - The shares ownership of of the team, WO5 - the innovate leadership methods appropriate trade policy, companies in the coming strengthen stage management increase Identify the financial autonomy of the company WO6 - Investment in - The competitor is not training eligible enough to enter learning budget and divide the market of 77 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 and the Company - International Economic Integration creates opportunities for exporting the goods - Increasing population, urbanization with greater speed People's living standards rise, demand for building is big that increases the demands in the coming years Challenge(T) Strategies(ST) Strategies(WT) - Quality requires more ST1 – Classify the client; WT1 – Invest, explore and more highly and diversify the products to and license new mines stably serve different needs of the with high quality - Inflation and economic customers Gradually WT2 crisis is at risk of re- standardize and guide the quality eruption customers to use properly - Improve of the financial activities to ensure capital - Interest of credit, coal, ST2 - Improve the exploiting for investment activities electricity is up that also product quality to maximize and increase the costs capital structure the strength of materials, optimization - Policy of management of equipment and technology to environmental resources is create distinctive products closer to increase costs ST3 - Take advantage of the and reduce the corporate company’s image, enhance interests that make it recruitment, and improve the difficult for operation lives of the officials and - Legal systems are under employees the process of additional 78 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 adjustments affecting operating activities of the company - Recruitment of personnel is difficult, lack of human resources in management to reach a new style of modern management - The speed of world economic recovery is slow Directly affect the operation of the Company 2.9.2 Contents of the strategies * SO Strategy project (Strategy 1): SO1 - To maintain traditional markets SO2 - Expanding investment and increasing the capacity to provide SO3 -Build the image of the company to become a company providing professional materials with the highest quality in Vietnam SO4 -Promote the capacity of research staff to develop new products for export SO5 - The training develops, improve the capacity and ownership of the team, innovate leadership methods * WO Strategy project (Strategy 2): WO1 - Expand investment to organize high-quality products WO2 - Strengthen the management to limit the high cost due to disadvantage of the scale and marketing adjustments to consump the product WO3 - Training to improve the capacity of the sales staff WO4 – Assign responsibilities clearly Build evaluating system of appropriate personnel WO5 - Identify appropriate trade policy, strengthen financial management 79 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 WO6 - Investment in training budget and learning * ST Strategy project (Strategy 3): ST1 – Classify the client; diversify the products to serve different needs of the customers Gradually standardize and guide the customers to use properly ST2 - Improve the exploiting product quality to maximize the strength of materials, equipment and technology to create distinctive products ST3 - Take advantage of the company’s image, enhance recruitment, and improve the lives of the officials and employees * WT Strategy project (Strategy4): WT1 – Invest, explore and license new mines with high quality WT2 - Improve the quality of financial activities to ensure capital for investment activities and capital structure optimization Summary of Chapter Through analysis of external environmental factors, industry environment factors, internal environmental factors of the Company , we can draw strengths, weaknesses, challenges and opportunities for the construction and analysis of IE and SWOT matrix tables in order to find out the business strategy which can be considered to be applicable to Viglacera Ha Long joint stock Company at the period from 2010 to 2015 CHAPTER III CORPORATE STRATEGIC PLAN OPTIONS, SOLUTIONS, RECOMMENDATIONS AND CONCLUSIONS 3.1 CORPORATE STRATEGIC PLAN OPTIONS AND THE METHOD THEREOF 80 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 3.1.1 CRITERIA TO CHOOSE BUSINESS STRATEGIC PLANS To select business strategies being suitable to the company relies on the following criteria: ● Stable source of raw materials being suitable to business strategies ● Technological equipments (their current applicability furnishing the strategy) ● Ability to raise finance to implement business strategic plans ● Staff qualifications in need for finish business strategic plans ● Executive management capacities of leaders supporting business strategic plans ● Development ability to satisfy expectation of staffs ● Location and control of the Company on the market ● Management unit expectations ● Corporate Branding ● Sustainable development 3.1.2 OPTIONS OF BUSINESS STRATEGIC PLANS As analyzed in Chapter II, Quantitative Strategic Planning Matrix – QSPM is to define, compare and evaluate corporate strategic plans with particular criteria as followed: 81 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 Weight Table 2.9: QSPM Analysis Key factors Strategic Strategic Plan Plan Attrac tive scores Input materials with the advantages High quality and modern production technology Understanding demands, remaining customer-to-close relations; creating good company image Appreciated options segmentation of and Total Attracti ve Attracti ve scores scores Strengths Strategic Strategic Plan Total Attracti ve scores Attra ctive scores Total Attrac tive scores Plan Attrac tive scores Total Attracti ve scores 0.04 0.16 0.12 0.12 0.12 0.04 0.16 0.16 0.12 0.08 0.04 0.16 0.12 0.04 0.08 0.03 0.09 0.09 0.09 0.09 0.03 0.09 0.09 0.09 0.09 0.02 0.06 0.06 0.04 0.02 0.03 0.12 0.09 0.06 0.03 0.02 0.04 0.04 0.04 0.04 0.02 0.06 0.06 0.06 0.04 0.01 0.02 0.03 0.03 0.02 market product distribution channels Investment extension Officers with high qualifications and skill Focusing on training and developing officers Belief of officers in sustainable development of the company High desired learning Good relations with the State administration agencies Single management unit Weaknesses Must import materials to produce decorative products Production volumes is limited (low quality) High cost Yet meet customer requirements immediately Sale units without high profession Analysis systems to evaluate systems have not been completed Weak administration accounting work 0.04 0.04 0.08 0.08 0.12 0.02 0.08 0.06 0.02 0.01 0.04 0.16 0.12 0.12 0.08 0.03 0.09 0.06 0.06 0.03 0.03 0.09 0.06 0.06 0.06 0.01 0.02 0.02 0.02 0.02 0.03 0.03 0.06 0.09 0.12 82 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 Opportunities Relatively High and sustained economic growth in Viet Nam, world economy being recovery to increase the consumer demands Manufacturers using domestic material source Business scale is advanced in development policies Competitors with inexperience having low penetrability in market Manufacturing sector to serve the essential needs of the economy should develop long-term 0.04 0.16 0.12 0.08 0.04 0.03 0.12 0.09 0.03 0.03 0.03 0.12 0.06 0.06 0.06 0.03 0.09 0.09 0.09 0.06 0.03 0.09 0.06 0.06 0.06 0.02 0.04 0.04 0.04 0.04 0.03 0.12 0.09 0.06 0.06 0.03 0.12 0.09 0.09 0.06 0.03 0.06 0.06 0.06 0.06 opportunities Capitalization of the Corporation to increase the period of autonomy of the Company Competitors not having enough essential conditions to penetrate in the market segmentations International economic integration providing opportunities for good export Population growth, extended urbanization, high living standards resulting in much demand for construction in the coming years Threats Strict rrequirementss for high and stable quality products Inflation and economic crisis with the risk of occurrance Credit interest rates, coal, and electricity making high costs Strict rsource management policies 0.05 0.15 0.15 0.15 0.10 0.03 0.03 0.06 0.09 0.12 0.04 0.04 0.08 0.12 0.16 0.04 0.08 0.08 0.08 0.08 0.03 0.06 0.06 0.06 0.06 0.04 0.08 0.12 0.12 0.16 0.02 0.02 0.04 0.04 0.04 as result of reduced benefits and increased costs, making it difficult for the Company's systems Legal system adjustments operating with additional affecting operating activities of the Company Recruitment difficulties, lack of management level human resources to reach modern method Low world process management economic Directly recovery affecting the operation of the Company 83 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 Total 2.91 2.52 2.49 2.38 (In which: i Total Weight = ii Attractiveness Scores (based on the current method): 4; highly attractive: 3; reasonably attractive: 2; somewhat attractive: 1.not attractive.) Based on assessment results, the above given points, it is clear to see that the strategic plan with the highest score In other words, this is the most approciate strategic plan for the Company So this strategic plan is proposed and selected In addition, in views of the above assessments and given points, it is shown that a maximum total score of all items is 4, while the total score of the strategic plan is 2.9 Thus, there are still many opportunities for companies to hve further improvements of the performance of its own business Strategic Plan is selected: It is to maximize the advantages of raw materials, technological equipment to maintain the traditional market; improving production volumes; promoting officier capacity, studing and developing of new product lines for exporting; enhancing leadership to develop training in order to promote the capacity and automony of the teams; Building company brand to support the company in reaching professional and highest quality clay brick company The strategic plan is to produce the differential products 3.1.3 THE METHOD TO FINISH THE BUSINESS STRATEGIC PLANS 3.1.3.1 Objectives ● Training and developing human resources to expand production ● The period 2010: Study of modern equipments for in-depth investments to improve productivity and quality such as burners, tires, vacuum cleaners ● The period 2012 - 2015: Investing new unheated brick manufacturing assembly 84 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 ● The period 2012 - 2015: new manufacturing plant on working, increasing production capacity, revenue is estimated at 300 billion per year ● Ensuring profitable growth of 30% per each year 3.1.3.2 Steps to finish ● Spreading the content of strategic plans ● Preparing the necessary resources ● Grouping strategic goals in each period ● Making assessment at the end of each period to learn more from mistakes and ajust approciate strategic plans 3.2 SOLUTIONS TO FINISH 3.2.1 Building a strong brand, strengthening the company image, promoting Marketing Using capital from 0.35% revenue in order to sign licensing Agreement with the Mother Company to build brand Viglacera in general, Advertising products through mass media, advertising posters, and vehicles must be carefully built up to meet every need of customers, Strengthening marketing human resources with the training, marketing staffs with qualification of University on Business administration issues, Establishing a consult unit for customers with qualification on construction and architecture to support customers using the company's products, Building sale plans on monthly, quarterly basis to eliminate costs incurred products having yet sold, Linking closely between marketing units and manufacturing, financial units and strategic planning department to find out appreciate production plans for each period by standardizing and improving the internal communication system Developing and expanding market to support new clients Making policies to encourage large quantity consumption and fast payment, Expanding new entrants to meet every requirement of customers on both mutual benefits, 85 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 A statistical survey of market consumption strategic planning for each period, Entering gradually in regional and international markets around the world 3.2.2 Investment to strengthen the old production lines, implementing investment plans Focused investing to improve the existing production lines, encouraging to technical innovations, increasing production capacity by reducing labor to increase productivity, increase production and income stability Focusing on construction and selection of appropriate investment to reduce production costs and improving economic effectiveness Selecting investment methods paying attention to careful and accurate financial analysis, Establishing of project managers, cooperating with foreign consultants with much experience to build the project 3.2.3 Optimizing production processes to reduce management cost and improve product quality Complete management mechanism operating at all levels from the company to the workers under specific decentralization Accelerating the application of quality management system ISO 9001-2000, combining the power of collective leadership and the performance of staff to complete the task Finding out every measure to maximize resources and existing capacity, production organization and suitable management and investment, removing timely obstacles, Application of information technology to operating management to ensure internal information security timely, accurately and strictly in the control of specific decentralization, Strictly managing the product quality, applying quality inspection many times 86 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 Strengthening studying to develop new entrants 3.2.4 Building and developing human resources with high-level management qualification, skilled technical worker force Enhancing funding for the training and development; each year, about 1% of revenue used for training and development, On site-well organized training in place, organizing skilled workers, and profession competition every year to arrange for appropriate management team, Enhancing learning in the company as well as in other companies in the industry, Developing profession of staffs and workers Building profession standards staff for each title, finishing salary payment systems, responsibility ratio and complexity of work assigned, the product volume assigned, and reimbursement Building bonus regulations in effective management, Applying policies in term of social insurance, health insurance, body insurance , unemployment insurance for workers Strengthening and improving the system of rules and regulations on personnel work to ensure the high autonomy of the recruitment, job analysis, employee evaluation and salary policies The rules, financial regulations , accounting and regulations among the parts 3.2.5 Mobilize sufficient regulatory capital calculation and capital structure optimization for production and business activities Maintain and strengthen close relationships with banks Calculating the capital structure to ensure a reasonable cost of capital, increasing three-fold capital with the current roadmap for conducting investment, Enhancing capital accumulation from production and business efficiency Ensure the provisions of the banking system on mortgage assets, Strengthening debt collection, reducing costs receivable, decreasing inventory turnover to increase the working capital cycle To enhance liquidity and efficiency of production 87 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 3.2.6 Role of the brand Viglacera for Viglacera Ha Long Viglacera is the brand for regulation of law on industrial property Annual, Viglacera Ha Long Company signed license contract with Viglacera Corporation at a cost of 0.35% revenue that year Viglacera brand contributed to promote for the development of Ha Long Viglacera Company However, nowadays, General Company Viglacera only holds 26% shares in the company, in the near future, General Company will no longer hold the rest oF shares in Viglacera Ha Long 1company Recognizing this problem in the future, Viglacera Ha Long Company created “ Brick Hung Yen”, which is its own brand for using now and in the future 3.3 RECOMMENDATIONS FOR VIGLACERA COMPANY ● Supporting member companies in developing the brand “Viglacera” ● Guiding the company in expanding investment ● Sales promotion, expanding export markets ● Supporting corporate capacity through trade promotion, supporting in training of human resources for its subsidiaries ● Building assessment system to representatives reasonably ● Promoting good relationship with the State management agency for mineral resources ● Materials strategies to ensure materials with a competitive advantage and sustainable competitiveness for companies 3.4 CONCLUSIONS Due to time and other resources limitation, it is not avoidable for this thematic to have shortcomings This thematic should be limited to corporate strategic planning for Viglacera Ha Long 1, but not refers to business scale the Company This thematic doe not adequately refers to the other competitors and production priorities Instead of such above mentioned shortcoming, corporate strategic plans of Viglacera Ha Long Company is relatively Through the opportunities, challenges, strengths and weaknesses of the company, they help it 88 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 face corporate changes flexibly, timely and properly.The supplement and assessment of these issues will help it adjust corporate strategic plan appropriately With the report, "CORPORATE STRATEGIC PLAN OF VIGLACERA HA LONG OF PERIOD 2010 TO 2015", it is expected that the company will apply them in the business practices In view of these corporate strategic plans, the company will determine objectives, policies and measures in the future With such shortcomings, we hope to receive comments and a contribution of teachers and colleagues to corporate strategic plans is more complete Thank you for your attention! 89 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 REFERENCE DOCUMENTS Vietnamese: Pd Dr Le The Gioi, Dr Nguyen Thanh Liem, MB Nguyen Huu Hai (2009), Strategic Adminstration, Statistical Publishing House Pd Dr Ngo Kim Thanh, Slide of the lecture of Human Resource Management , Master Training program for Master Certificates of International Business administration, learning materials for students Griggs University Huynh Minh Em translation (2008), MBA in your hand, Marketing, Ho Chi Minh Publishing House Ph.D/DBA Nguyen Huu Than (2008), Personnel Management, Labour and Social Publishing House Viglacera Hạ Long Joint Stock Co.,, Report of Organization Structure in 2009 Joint Stock Co., Viglacera Hạ Long 1, Financial Report 2008, 2009, the first months of the year 2010 Joint Stock Co., Viglacera Hạ Long 1, Production Report in the years of 2008, 2009, and the first months of 2010 90 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 English: Robert A.Pitts and David Lei (2000), Strategic Management - Building and Sustaining Competitive Advantage, South-West Thomson Learning James Collins and Jerry Porras (1996), “Building Your Company’s Vision” Haschak, Paul G (1998), Corporate statements: the official missions, goals, principles and philosophies of over 900 companies Jefferson, N.C: McFarland Derek F Abell (1980), Defining the Business: The Starting Point of Strategic Planning Englewood Cliffs, N J Prentice-Hall F F Ducker, Management – Task, Responsibilities New York: Harper & Row M E Porter (1980), Competitive Strategy, New York: Free Press C E Helfat & R S Raubitschek (2000), “Product sequencing: Co-evolution of knowledge, capabilities and products”, Strategic Management Journal, 21:961979 K Hafeez, Y B Zhang & N Malak (2002), “Core competence for sustainable competitive advantage: A structured methodology for identifying core competence”, IEEE Transactions on Engineering Management, 49(1):28-35; C K Prahadad & G Hamel (1990), “The core competence of the corporation”, Harvard Business Review, 68(3):79-93 R R Wiggins & T W Ruefli (2002), “Sustained competitive advantage: Temporal dynamics and the incidence of persistence of superior economic performance”, Organization Science, 13:82-105 10 David, Fred, “The Strategic Planning Matrix - A Quantitative Approach.” Long Range Planning 19, no (October 1986): 102 Also, David, Fred, Strategic Management Concepts and Cases, (Prentice-Hall Publishing Company): Upper Saddle River, NJ, 2009 91 BUSINESS STRATEGY OF HA LONG VIGLACERA JOINT STOCK COMPANY IN THE PERIOD 2010 - 2015 ... tile is also enhanced with a new level Vietnam has 54 different ethnic minority groups, where the Kinh people account for majority When getting married, all ethnic groups want their children to