1.1 Bussness strategy and the process to build business strategy for the enterprise:
The concept of strategy has deep historical roots, originating from military practices in ancient Greece It evolved alongside the conquests of imperial nations, embodying the art of achieving victory in battle This military background is reflected in its earliest definitions, highlighting the strategic principles that guided military leaders.
Strategy, as defined by the Dictionary of American Cultural Heritages, is both a science and an art focused on military command, utilized to develop master plans and execute large-scale campaigns.
And in the Larouse dictionary: “Strategy is the art of leading tools to get success”.
After World War II, the global economy experienced rapid recovery and significant changes in the business environment Operations shifted from small-scale, manual production to more advanced industrial practices due to the second scientific and technological revolution, intensifying competition This evolution compelled companies to adopt long-term production and operational strategies, aligning with the military concept of strategy However, the definition of strategy has evolved over time, leading to various interpretations and a lack of consensus in the field.
Based on traditional point of view, strategy definition understands as follows:
“Strategy is the study of finding a suitable position to compete in the industry, a scope of operation where competitive activities occur”. research
According to Micheal Porter, strategy is to emphasise competition.
Alfred Chandler, a Harvard University professor, defines strategy as the process of establishing the fundamental long-term objectives of an organization and developing an operational plan to allocate the necessary resources for achieving those goals.
However, Jame Quinn at Darmouth University defines: “Strategy is a model or plan of the enterprise to combine main goals, policies and operation order in one unity”.
William F.Gluek’s definition is that: “Strategy is a united plan, comprehensive, and designed to ensure basic goals of the enterprise successful”.
Traditional definitions of strategy emphasize the importance of content and planning, suggesting that enterprise strategies stem from pre-estimated and predicted plans Initially, these definitions were widely accepted by scholars and managers However, the rapidly evolving and complex business environment has rendered this approach less effective, as many formally established plans fail to succeed Consequently, relying solely on planned strategies is no longer adequate, highlighting the need for adaptive solutions in business operations Therefore, traditional definitions of strategy exhibit significant limitations, as the essence of strategy encompasses both scientific and artistic elements aimed at achieving success.
Modern definitions of strategy have evolved to replace traditional ones, reflecting the dynamic nature of today's business environment Rather than focusing solely on estimation and planning, these contemporary definitions prioritize the selection of the most appropriate strategies that align with specific organizational goals.
Defining strategy can be challenging, but a comprehensive understanding can be achieved by examining its various factors, which hold significant value for any enterprise These factors are closely linked to the unique circumstances of each organization, including its staff and structure To establish a common definition of strategy, it is essential to differentiate between the definition of strategy itself and the process of formulating it Ultimately, strategy encompasses all critical operations of an enterprise, characterized by unity, clear objectives, orientation, and the ability to adapt to environmental changes.
Recent developments indicate that definitions of strategy are evolving in response to changes in the economy, highlighting the dynamic nature of strategic ideas to remain relevant in the business environment Despite these changes, certain core characteristics of business strategy persist across different perspectives and time periods, with the fundamental aspect being the focus on achieving results.
- Business strategy has to define basic goals that need to achieve in each period and fix this matter in every fields and levels of operation of the enterprise.
- Business strategy of the enterprise is reflected in one continuous process from the construction to implementation, assessments and inspection, adjustment the situation of performing the goals given.
An effective business strategy must maximize the utilization of the enterprise's resources, including labor, capital, and technology It should focus on leveraging strengths and capitalizing on opportunities to enhance competitiveness in the market.
- Strategy is the tool to form long term of the enterprise:
Traditional definitions say that strategy is to help us shape the long-term goals, identify main operation programs to get above goals and mobilize necessary resources.
This feature will be more valuable if the long-term goals have been clarified. Because those goals always change, it causes this feature no value.
Unlike plans, which focus on specific actions for the short term based on precise data and predictions, strategies are designed for the long term and must account for unpredictable variables in a constantly changing business environment As it is nearly impossible to determine exact long-term actions, strategies serve as flexible guidelines and orientations When implementing strategies in business processes, companies must adeptly adjust their target goals and situational objectives to adapt to evolving circumstances.
- Business strategy tends to be on the offensive to get success in the market.
- Business strategy is carried out by discovering and utilizing business chances and comparison advantages of the enterprise to be successful.
A business strategy defines the enterprise's scope and is crucial for determining the fields in which it will operate Key considerations in strategy formation include growth rates, diversification, and investment activities Identifying the business scope is essential for analyzing the business environment, guiding strategic direction, and managing resource allocation and investments Two fundamental questions arise in this process: What do we trade? And what should we trade?
This is comparatively complicated problem due to tremendous effects on identifying the organizational structure of one company during period division of the market.
- Business strategy creates mutual relations between chances and challenges outside the company, between weak points and strong points to create competition capacities for the company.
This feature addresses the critical challenge of establishing a long-term and sustainable competitive advantage over rivals in the industry It represents a contemporary method for analyzing the competitive positioning of the enterprise.
- Business strategy is a clear identification between beneficial and non- beneficial interests that the company tends to give to its shareholders.
1.1.3 All kinds of business strategy:
Strategy is classified differently up to criteria of each person: research
1.1.3.1 Classify business strategy basing on strategy levels:
Base on this type strategy are classified as follows:
The master strategy at the company level encompasses a comprehensive plan that guides all operational areas within the organization Its primary objective is to define the overarching goals the company aims to achieve across various functions, ensuring alignment in operations, directions, and solutions to successfully reach these targets.
Business-level strategy focuses on a specific, narrowly defined area of operation When a company operates solely within this specialized field, its business strategy aligns closely with its overall company strategy.
Function-level strategy involves specific approaches tailored to distinct departments within a company, such as finance, marketing, and human resources This strategy serves as a supportive framework that enhances the overall business strategy and aligns with the broader corporate objectives, ultimately contributing to the organization's success.
1.1.3.2 Classify business strategy basing on contents:
Base on the contents of strategy, French managers think that business strategy include the following type:
- Commercial strategy: is to apply for all commercial activities from purchasing input factors to distribution and consumption of products.
Basic arguments of the research
Bussness strategy and the process to build business strategy for the enterprise:.3 1 The arguments of strategy
The concept of strategy has its roots in military history, tracing back to ancient Greece It emerged alongside the conquests of imperial powers and was regarded as the art of achieving victory in battle This military origin is reflected in its earliest definitions, highlighting the strategic planning essential for success in warfare.
Strategy is defined as both a science and an art in the context of military command, focusing on the development of master plans and the execution of large-scale campaigns, according to the American cultural heritage dictionary.
And in the Larouse dictionary: “Strategy is the art of leading tools to get success”.
After World War II, the global economy experienced rapid recovery and significant changes in the business environment Traditional small-scale and manual production methods were replaced by advanced industrialization and modernization driven by technological revolutions This shift intensified competition, compelling companies to adopt long-term strategies for production and operations As a result, the definition of strategy, originally derived from military concepts, has evolved over time, leading to various interpretations and a lack of consensus in the field of economics.
Based on traditional point of view, strategy definition understands as follows:
“Strategy is the study of finding a suitable position to compete in the industry, a scope of operation where competitive activities occur”. research
According to Micheal Porter, strategy is to emphasise competition.
Alfred Chandler, a professor at Harvard University, defines strategy as the process of establishing the fundamental long-term objectives of an organization and creating an operational plan, while effectively allocating the necessary resources to attain these goals.
However, Jame Quinn at Darmouth University defines: “Strategy is a model or plan of the enterprise to combine main goals, policies and operation order in one unity”.
William F.Gluek’s definition is that: “Strategy is a united plan, comprehensive, and designed to ensure basic goals of the enterprise successful”.
Traditional definitions of strategy emphasize the importance of content and planning, suggesting that a company's strategy is derived from pre-estimated plans Initially, these definitions were widely accepted by scholars and managers However, the rapidly changing and complex business environment has rendered this approach less effective, as many formally established plans fail to yield successful outcomes Therefore, the need for adaptable solutions in business operations has become essential Consequently, traditional definitions of strategy exhibit significant shortcomings, highlighting that strategy is both a science and an art focused on achieving success rather than merely following predetermined plans.
Modern definitions of strategy have evolved to replace traditional ones, focusing on the dynamic nature of today’s business environment These contemporary definitions prioritize the selection of the most suitable strategy aligned with specific goals, rather than merely emphasizing estimation and planning.
Defining strategy can be challenging, but a clearer understanding emerges when we examine its various components, which are crucial for any enterprise These components are influenced by the unique circumstances of each organization, including its staff and structure To establish a common definition of strategy, it is essential to differentiate between the definition of strategy itself and the process of formulating it Ultimately, strategy encompasses all critical operations of an enterprise, characterized by unity, clear objectives, and adaptability to environmental changes.
Recent definitions of strategy have evolved alongside changes in the economy, highlighting the dynamic nature of strategic thinking to align with the business environment Despite these shifts, certain fundamental characteristics of business strategy remain consistent across different perspectives and time periods.
- Business strategy has to define basic goals that need to achieve in each period and fix this matter in every fields and levels of operation of the enterprise.
- Business strategy of the enterprise is reflected in one continuous process from the construction to implementation, assessments and inspection, adjustment the situation of performing the goals given.
An effective business strategy must maximize the utilization of an enterprise's resources, including labor, capital, and technology By leveraging these strengths and capitalizing on market opportunities, businesses can enhance their competitive edge.
- Strategy is the tool to form long term of the enterprise:
Traditional definitions say that strategy is to help us shape the long-term goals, identify main operation programs to get above goals and mobilize necessary resources.
This feature will be more valuable if the long-term goals have been clarified. Because those goals always change, it causes this feature no value.
Unlike plans, strategies do not dictate specific actions to take or avoid during the planning period Plans focus on short-term objectives and are based on precise data and accurate predictions In contrast, strategies are designed for the long term and must account for unpredictable factors In today's dynamic business environment, it is nearly impossible to conduct research that precisely defines long-term actions Consequently, strategies serve as guidelines and orientations When implementing strategies in a business context, companies must flexibly adapt to target goals and situational goals.
- Business strategy tends to be on the offensive to get success in the market.
- Business strategy is carried out by discovering and utilizing business chances and comparison advantages of the enterprise to be successful.
A well-defined business strategy establishes the scope of an enterprise, focusing on crucial aspects such as growth rate, diversification, and investment activities Identifying the business field is essential for analyzing the business environment and guiding strategic direction, resource allocation, and investment management Key questions to consider include: What do we trade? and What should we trade? Addressing these inquiries is vital for effective strategy formation and overall business success.
This is comparatively complicated problem due to tremendous effects on identifying the organizational structure of one company during period division of the market.
- Business strategy creates mutual relations between chances and challenges outside the company, between weak points and strong points to create competition capacities for the company.
This feature addresses a significant challenge: establishing a long-term and sustainable competitive advantage over rivals in the industry It represents a contemporary method for analyzing an enterprise's competitive position.
- Business strategy is a clear identification between beneficial and non- beneficial interests that the company tends to give to its shareholders.
1.1.3 All kinds of business strategy:
Strategy is classified differently up to criteria of each person: research
1.1.3.1 Classify business strategy basing on strategy levels:
Base on this type strategy are classified as follows:
The master strategy at the company level encompasses a comprehensive plan that guides all operational areas within the organization Its primary objective is to clearly define the company's overarching goals, ensuring alignment across various operations, directions, and solutions to effectively achieve these targets.
Business-level strategy focuses on a specific, narrowly defined area of operation, aligning closely with the company's overall strategy when it operates solely within that field This approach ensures that the business strategy effectively addresses the unique challenges and opportunities within its specialized market.
Function-level strategy focuses on individual departments within a company, such as finance, marketing, and human resources This approach serves as a supportive strategy that enhances the overall business strategy and aligns with the broader company-level objectives, ultimately driving organizational success.
1.1.3.2 Classify business strategy basing on contents:
Base on the contents of strategy, French managers think that business strategy include the following type:
- Commercial strategy: is to apply for all commercial activities from purchasing input factors to distribution and consumption of products.
Contents of strategy development process
A company's strategy is an organized process influenced by its structure, behavior, and culture This process can be divided into two key aspects: strategy formation and strategy implementation Effective strategy formation involves analyzing environmental opportunities and challenges, assessing risks, and evaluating the company's strengths and weaknesses based on its resources Additionally, it is crucial to impartially assess the company's ability to meet market demands and manage risks Ultimately, the chosen strategy should align the company's opportunities with its capabilities while maintaining an acceptable level of risk, a concept known as strategic economic alignment.
Whether that there are many different viewpoints and different approaches to the formation of the strategy but short strategy often built according to the following:
Figure 1.1: Chart of forming business strategy process.
Establish (decide what to do)
Define materials, technology, finance, and management of the enterprise
Values of human beings and leaders’s’ determination
Assert none-economic responsibilities to the soceity
Types of targets and definition company policies and its business field.
Structure of the company and relations:
Labor sdistribution, coordination among units, information system.
Standards of measurement methods, motivation systems, control system Select andf promotion
The highest leaders of the company
1.2.1 Define missions and targets of the company:
Strategy makers must base their decisions on a clear understanding of the enterprise's objectives, as they navigate various requirements from stakeholders, including shareholders, suppliers, customers, government, and the community These requirements must be assessed and prioritized, playing a crucial role in guiding the company's decision-making process Identifying the company's goals is not merely theoretical; it is a practical challenge that strategy makers and researchers must continually address.
1.2.1.1 Define missions of the company:
Before studying this matter, we need to raise a question: what is the target or mission for the company?
The target of a company serves as its fundamental reason for existence, guiding the strategic decisions of its leaders The approach taken by these strategy makers towards the target not only shapes the establishment process but also significantly influences the content and direction of the target itself.
Here are series opinions on mission of the company.
The company's mission serves as a foundational element that guides its strategic direction, rooted in the Latin term "Mittere," meaning to send (Cumming and Davies, 1994) Establishing a clear target during the initial phase is crucial, as it is significantly influenced by the organization's cultural values (McCoy, 1985; Collins and Porras, 1994) Additionally, competitive ambitions and intentions are essential components of the mission As Campbell suggests, the mission encompasses all factors that create a cohesive framework Developing a mission statement involves a process that includes six fundamental steps.
Step 1: Form the first idea of business mission.
Step 2: Survey the environment and assess iternal conditions. research
Step 3: Redefine the idea about business mission.
Step 4: Rebuild the mission composition of the company.
Step 5: Hold to perform the mission of the company.
Step 6: Consider and correct the mission
Setting clear targets is essential for guiding business operations and enhancing productivity, such as achieving a 15% increase in shareholder value These targets serve as motivation, with ambitious goals like reaching a turnover of 500 billion next year presenting both challenges and opportunities for assessment Companies typically define their targets across eight key areas to ensure comprehensive strategic alignment.
6 Development and the output of staffs;
7 Attitude and the output of workers;
Failing to address any of the eight key areas can lead to significant consequences for a company To ensure that short-term objectives do not compromise long-term success, it is essential to maintain a balance among these goals.
In a company, a primary objective is established alongside job responsibilities, which can be affected by factors such as labor force, delivery time, product quantity, and pricing These elements serve as individual goals that can be aligned with production However, pursuing a single objective may sometimes conflict with achieving other related goals.
Goal definition is not completely a simple matter or a subjective one, so in order to have a suitable goal the enterprise needs to satisfy one of these following factors. research
A clear and well-defined goal is essential for effective teamwork, as ambiguity can lead to conflicting interpretations and hinder progress For example, aiming to become a market leader may result in varied operational strategies that can confuse employees Additionally, goals should possess distinct characteristics; a generic target, such as a 5% increase in market share, may not fully engage resources or inspire commitment Furthermore, goals must be realistic and feasible; if they lack this quality, they can diminish motivation and interest among team members.
Identifying goals for each period must base on not only mission statement paper but also counting the effects from subject factors That is external and internal factors.
A company's capabilities significantly influence goal identification, as the effective utilization of both human and material resources is crucial for achieving feasible objectives It is essential to develop goal systems that leverage existing capabilities without surpassing them, ensuring that the organization remains aligned with its resources.
Leaders play a crucial role in shaping a company's strategic goals, and their opinions significantly influence the overall goal-setting process.
The company's past achievements have created a strong foundation for pursuing current goals, as these successes provide invaluable experiences that inform our strategies and decisions.
Company owners and employees play a crucial role in setting operational goals and managing the company's assets, with the hope of achieving rapid growth Employees are responsible for executing these goals and anticipate that successful implementation will enhance their living standards and overall quality of life.
The business environment significantly impacts all aspects of an enterprise's operations, determining the success of goal implementation To ensure smooth business functioning, it is essential for the goal systems to align with the prevailing business environment.
Customers, competitors, and other stakeholders significantly influence a company's success To thrive, a business must align its goals with customer demands while also minimizing competitive threats This can be achieved by developing distinctive competitive advantages that set the company apart in the marketplace.
1.2.2 Analyzing the business environment of the enterprise:
1.2.2.1 External factor effects on the enterprise:
Every business operates within a specific external environment that significantly impacts its existence and growth This influence can manifest as either positive or negative effects To thrive and evolve, a company must adapt to the prevailing trends and changes in its surrounding business landscape.
Analysis of production and business operation reality in VSH
General introduction of Vinh Son - Song Hinh hydropower joint stock
Vinh Son - Song Hinh Hydropower Joint Stock Company originated from the Vinh Son Hydropower Plant, which began construction on September 15, 1991, under III Power Company The plant was officially operational and connected to the National Grid on December 4, 1994, with a capacity of 66 MW and an annual electricity output of 230 million KWh As the first large-scale hydroelectric facility in the Central and Central Highlands regions, it plays a crucial role in meeting electricity demands for remote areas and enhancing the stability of the national power system By the end of 2000, Vinh Son Hydropower Plant had generated 1,880 billion KWh, achieving an average annual yield of 310 million KWh—over 35% more than its design capacity Notably, in 1999, the plant's output reached 419 million KWh, surpassing all initial expectations.
In 1999, Vietnam Electricity tasked Vinh Son Hydropower Plant with managing the Song Hinh Hydropower Plant project to improve power system management efficiency and leverage the team's expertise By July 2000, the facility was rebranded as Vinh Son - Song Hinh Hydropower Plant, consisting of four machine teams that collectively generate over 600 million kWh of electricity for the National Grid each year.
Vinh Son- Song Hinh Hydropower Joint Stock Company includes:
- Office: 21 Nguyen Hue St., Quy Nhon City, Binh Dinh Province
- Vinh Son Hydropower Plant is located in the northwest and away from Quy Nhon city 120 km, is at Vinh Son Commune, Vinh Thanh District, Binh Dinh Province
- Song Hinh hydropower plant is located in the southwest and distant from Tuy Hoa town 45 km, is located at Son Thanh Commune, Tuy Hoa District, PhuYen Province
In November 2003, the Prime Minister approved a master plan for the arrangement and renovation of State enterprises under Decision 219/QD-TTg, specifically for the Electricity of Vietnam during the 2003-2005 period Additionally, the Ministry of Industry issued Decision No 2992/QD-TCCB to equitize the Vinh Son - Song Hinh hydroelectric plant Consequently, on May 4, 2005, the plant officially transitioned to a joint stock operation model.
- Name: Vinh Son - Song Hinh hydropower joint stock company
- International transaction name: Vinh Son - Song Hinh Hydropower Joint Stock Company
- Address: No 21, Nguyen Hue Street, Quy Nhon City, Binh Dinh Province
- Email: hpp_vssh@evn.com.vn
- Charter capital: VND 1,250,000,000,000 (one thousand, two hundred and fifty billion dong)
• Shareholders are the State (EVN): 750,000,000,000 (accounting for 60%);
• Shareholders are employees: 62.500,000,000 (accounting for 5%);
- According to the business registration certificate, No 3503000058 of May
4, 2005 granted by Department of Planning and Investment of Binh Dinh Province
• Provide operation management and maintenance of hydropower plants service;
• Consult project management and building program supervision of hydropower plants;
• Trade in supplies and equipment in the field of hydropower;
• Investment in construction of power projects;
2.1.2 Main features of the company affect the construction of strategic plans: 2.1.2.1 Characteristics of organization:
Labor force: Total number of employees are 120 people allocated as follows
Structure of organization and management system:
DEPUTY DIRECTOR (Investment in charge)
Figure 2.1: Structure of organization and management system
The Company is governed by a Board of Directors, which consists of five members elected by shareholders for a five-year term This Board includes a CEO who also serves as Vice Chairman, a commissioner who acts as General Director, and three additional commissioners The company's management structure is organized in a vertical hierarchy, comprising the Board of Directors, the Board of Supervision, the Board of General Directors, and various functional departments.
The Vinh Son - Song Hinh Hydropower Plant consists of two facilities: the Vinh Son Hydropower Plant in Binh Dinh Province with an installed capacity of 66 MW and an initial investment of VND 818.581 billion, and the Song Hinh Hydropower Plant in Phu Yen Province with a capacity of 70 MW and a total investment of VND 1,794.065 billion The Vinh Son hydropower facility, which operated from 1994 to 2000, served as the precursor to this project, effectively generating high power output during its six years of operation.
1880 billion Kwh, reaching on average 310 million kWh per year , increased over
Deputy Director (Production in charge)
O p e ra tio n D iv is io n P ro je c t D iv is io n P la n n in g - In v e s tm e n t D e p t
V in h S o n H y d ro p o w e r P la n t Te c h n ic a l D e p t S o n g H in h H y d ro p o w e r P la n t Te c h n ic a l C o n s u lt a n t C e n te r
A c c o u n tin g D e p t A d m in is -t ra tiv e D e p t
35% compared with the design In 2000, Vinh Son Hydropower Plant is assigned to take over the Song Hinh Hydropower Plant to go into operation, run and produce electricity until equitization.
Table 2.2: Results of electricity production
2.1.2.2 Characteristics of the company’s capital:
To achieve its annual production and business goals, the company proactively developed a plan to efficiently mobilize and utilize capital in alignment with its scale and growth Strengthening relationships with banks and credit institutions, including the Swedish SIDA organization, Nordic Development Fund (NDF), Nordic Investment Bank, and the Bank for Investment and Development, enabled the company to create comprehensive loan packages for key projects Recognizing the significance of guaranteed capital for business and investment, the company prioritized securing financial support for its initiatives.
Table 2.3: Summarization of the company’s implementation capitals
Analysis of real situation of strategic building and strategic thoughts formed in VSH
Vinh Son - Song Hinh Hydropower JSC is a prominent player in Vietnam's energy sector, operating under the umbrella of Vietnam Electricity The company specializes in power generation, contributing significantly to the country's electricity supply.
VSH has developed a strategic orientation by aligning its plans with Vietnam Electricity and adhering to contracts with power purchasing companies from 2008 and 2009 In response to the evolving market economy, the company is progressively innovating and focusing on the competitive electricity market VSH prioritizes customer needs, product quality, and service excellence while establishing its own short-term and long-term objectives.
Strategic planning at Vinh Son - Song Hinh Hydropower JSC focuses on establishing collective goals that are crucial for the company's business operations This article will delve into the detailed process and key components involved in developing an effective strategic plan for the organization.
Figure 2.2: The process of building strategic plan in VSH
2.2.1 Defining customer’s need and build plan:
Short-term plans are typically developed at the end of specific periods, such as quarterly or annually In contrast, long-term plans are more complex and involve strategic considerations, making them less frequent and usually created during pivotal moments for the company and the industry as a whole.
2.2.2 Setting up basics to build plans:
When building up a long term plan the company always uses these following basics
Determine the demand of making strategic plan
Approved Submit to Board of managers
Specify and quantize the targets to calculate
- Economic orientation of the country and industry
In alignment with the government's economic and societal development goals, as well as the trends within the electricity sector, the company assesses customer demand and favorable government policies Based on this analysis, the company evaluates overall demand and formulates plans to effectively meet these needs.
The board of directors and the general manager hold the highest authority and responsibility within the company, making their policies crucial to the overall operations Consequently, the investment and planning teams must align their strategies and initiatives with the directives set forth by these leaders.
Analysis result of business situation of the company in the last period.
Through this analysis, the company can assess market demand and its capacity to meet that demand, providing a clear view of capital efficiency and business operations This foundational information is commonly utilized for strategic planning at Vinh Son – Song Hinh Joint Stock Company However, it is important to note that this basis has some underdeveloped aspects that may lead to discrepancies between the plan and the current market situation.
In developing a long-term strategic plan, Vinh Son – Song Hinh Hydroelectricity Joint Stock Company prioritizes key performance metrics that significantly influence the company's growth trajectory The following essential norms are selected to guide the formation of this strategic plan.
Trend extrapolation is a statistical method used by companies to forecast customer demand, represented by the equation Y(t) = a.t + ∂(t), where 'a' and 't' are predictive functions and ∂(t) accounts for error This approach allows businesses to make informed decisions based on anticipated market trends.
After concretizing the necessary targets, the planning – investment department prepares a table-plan (attached with explanation), then submit to the
Board of Managers for comments A plan consists of many different parts like the plans for product, market, human resources, finance
The Board of Managers will evaluate the plan and approve it if there are no issues; however, if any concerns arise, they will provide direct feedback to the Department of Planning and Investment for necessary corrections.
2.3 Evaluate the situation of building strategy in VSH:
The company is establishing a long-term strategic orientation, which serves as the foundation for its business strategy This orientation reflects the collective goals of the company for the future, fostering motivation and alignment in its activities towards a unified and consistent objective.
The company is working to clearly define its targets, objectives, and future development orientation, a challenging endeavor in today’s dynamic business landscape By quantifying these development goals, the company and its departments can enhance their vision, assign tasks more clearly, and ultimately operate more efficiently.
When building strategic plan the company has officially inherited the results achieved in the past time and consider the influenceable environmental factors at the same time
Despite the company's significant efforts to improve management methods and implement strategic management, it has primarily focused on providing orientations rather than developing a concrete business strategy Consequently, there are ongoing challenges in formulating effective plans and strategies for the company's growth.
Vinh Son - Song Hinh Hydropower JSC just builds the plan for each annual accounting and the strategic business orientation but not building any official strategy
When establishing strategic goals and direction, the company places significant emphasis on previous period figures However, these figures may not accurately represent changes in the business environment, leading to potential setbacks and hindrances to progress.
Analyzing competitors is crucial for developing a successful business strategy, yet many companies still overlook this essential process By failing to recognize the importance of competitor information, businesses risk losing market share to their rivals Prioritizing competitor analysis can help companies make informed decisions and stay ahead in the market.
Analyse effect of environment impact to VSH
Vietnam aims for strategic economic development to transition from an underdeveloped nation to an industrialized country by 2020 During the period from 2006 to 2010, the economy experienced growth rates of approximately 7.5% to 8% By 2010, the GDP per capita is projected to reach between $1,005 and $1,100, with income per capita having reached significant levels in 2007.
$750, estimated in 2010 to $1200, 2015 is $2,500 and up to 2020 is $3,500 These
VSH plays a crucial role in the strategic development of the electricity sector Additionally, both international and regional economies are demonstrating signs of recovery following the global financial crisis.
With the above conditions, forecast in the near future, demand for business cooperation of the companies in the near future on the domestic market will require urgent every year.
The export market is expected to expand significantly, driven by increasing product demand trends linked to economic development This growth will necessitate higher standards of quality and service for products in the domestic market.
As domestic demand continues to grow, Hydropower JSC Vinh Son - Song Hinh is poised to seize new business opportunities, attracting increased interest from both local enterprises and international partners.
Following its successful hosting of the 14th APEC meeting in October and November 2006, Vietnam gained recognition as the 150th member of the World Trade Organization (WTO) This milestone garnered significant appreciation from the international community for Vietnam's political stability and security The government has been proactive in establishing a legal framework and information system to foster economic growth, implementing policies that encourage the mobilization of social resources and attract foreign investment Additionally, efforts have been made to enhance state management within the legal system while minimizing administrative interference in business operations and market activities.
On July 18, 2007, the government issued Decision No 110/2007/QD-TTg, outlining the National Power Master Plans for 2006-2015, with a review set for 2025 The company is positioned to invest in hydropower projects, including the Upper Kontum Hydropower and Vinh Son 2 and 3 facilities.
The Government has introduced significant innovations in investment management and construction by decentralizing authority to ministries, branches, and local investors This approach enhances oversight while reducing direct State intervention in investment activities.
The slow issuance of decrees and circulars guiding the implementation of the law, along with overlapping local regulations, has hindered the construction sector's progress However, despite these challenges, the current political climate presents numerous opportunities for investment, paving the way for significant potential in the construction market in the coming years.
Strategic opportunities for business export power are evident in a stable political environment, an evolving legal framework for investment, and innovative governance at both the government and provincial levels Additionally, the development of foreign relations creates favorable conditions for enterprise growth.
Modern technological equipment is increasingly utilized in industries like construction in Vietnam, particularly in hydropower projects This integration of advanced tools and scientific methods enhances the efficiency and convenience of construction operations.
Equipment of hydroelectric plants in the world well developed, besides Vietnam is China has experienced in the production of equipment for factories.
Besides domestic engineering firms have also produced a number of categories for hydropower plants.
In Vietnam, businesses face challenges due to limited capital, necessitating careful investment planning to ensure effective production and operational strategies Companies must focus on optimizing their equipment investments while also maintaining a consistent commitment to continuous improvement.
VSH improvement of technology innovation, technology to increase quality and lower price products.
The Central Highlands province of landmass, population density is not high, so that migration and resettlement is not difficult as other localities in the country.
Current population of our country is about 86 million people (the world's population passed the 6 billion people) and is considered having young population.
As the qualifications of our workforce continue to rise alongside economic and population growth, the demand for electricity and services is rapidly increasing This trend presents significant opportunities for business development, particularly in the Power Sector and tourism services The growing population and economy drive the need for electricity and services, benefiting both domestic and foreign companies Additionally, the global demand for products and services is on the rise, fueled by convenience and economic activities This positive trend creates ample opportunities for the growth of Vinh Son Song Hinh Hydropower Corporation and other power generation companies.
For hydroelectric power plants in general natural factors directly impact the quality and output of electricity for the development of the economy.
Power is a business economics has its own specific features, specifically:
- Require large capital investment, high technology, recovery time invested for longer than other economic sectors.
- Power to produce where there are consumed, there is no product inventory.
- Demand for power increasing, the current electricity production in our country to not meet demand.
- The units produce electricity mostly belonging Power Corporation ofVietnam (EVN), ie the market share of EVN is majority.
- Price of electricity power plants approved by EVN Currently in Vietnam began forming competitive electricity market But competitive markets are not complete.
Businesses focused on power generation need not worry about power output, as their primary concern lies in product pricing and having a skilled technical team to manage the plant However, the most significant challenge in investing in power plants is the substantial capital requirement, as most facilities demand a large initial investment.
Specific characteristic of Vietnamese electricity is Government monopoly moreover currently the demand is exceeding the supplier, so competition is still low.
The Vietnamese government is establishing a competitive electricity market to enhance competition among power plants, utilizing a unit buyer model This model is designed to foster competition by having multiple suppliers serve a single buyer However, its current implementation is limited to a pilot program within the Electricity of Vietnam (EVN), where both the electricity plants and the sole buyer are part of the same entity, hindering true competition Furthermore, for the next five years, the government will continue to allow EVN to act as the exclusive buyer, resulting in supply levels that are either smaller than or nearly equal to demand, which diminishes competitive pressure in the market.
2.4.2.2 Competitive pressure from potential competitors:
The competition from potential suppliers in Vietnam's electricity industry remains minimal due to significant barriers such as investment policies and electricity pricing regulations New entrants face substantial challenges, including the need for considerable capital investment, advanced technology, and lengthy construction timelines For thermo electricity plants, costs can soar into the hundreds of millions of USD, while hydroelectric plants are heavily influenced by environmental factors and require 2 to 4 years for construction These elements contribute to a high level of risk for newcomers in the sector.
Evaluate effect of external and internal environmental impact to VSH
Source: Phu Gia Stock Company: www.phugiasc.com - 14/11/2009
2.5 Evaluate effect of external and internal environmental impact to VSH:
2.5.1 Evaluate effect of external environmental (EFE matrix):
After evaluating the external factors influencing VSH's production and business operations, and considering the company's recent performance along with expert consultations from various teams, the authors have determined the significance of these factors They established a ranking system from 1 to 4 to assess how these peripheral factors impact the business, leading to the creation of a comprehensive assessment matrix.
Table 2.11: EFE matrix of VSH
No External factors Important level Specify Important score
2 Investment of Government and society to Electricity industry 0.1 3 0.3
3 High DPP growth rate so electricity demand increases quickly 0.1 4 0.4
4 Many changes in investment and construction policy 0.1 3 0.3
5 Market is developing and competition is increasing 0.1 3 0.3
6 Input is mainly depended on nature 0.1 3 0.3
7 Income growth rate is stunned 0.1 3 0.3
8 High interest rate and exchange rate risk 0.1 2 0.2
9 Competition in electricity industry increases 0.1 2 0.2
10 Increasing in prices of inventories 0.1 2 0.2
The total score for external factors influencing VSH's production and business activities is 2.8, indicating an overall favorable environment for the company However, certain critical challenges persist, including intense competition in the electricity sector, issues related to compensation and land clearance, as well as rising costs of essential materials and raw resources.
2.5.2 Evaluate effect of internal environmental (IFE matrix):
After evaluating the strengths and weaknesses of key business operations within the company, as well as analyzing production outcomes and expert insights from various departments, we have identified the critical factors that influence the success of VSH.
The significance of these factors is assessed using an importance score that ranges from 0.0 (not important) to 1.0 (very important) The total points are compiled based on the reviews, with a maximum score of 1.0 Additionally, the response of businesses to these factors is evaluated on a scale from 1 to 5.
4 (best reaction: 4 points, fair reaction: 3 points, average reaction 2 points, weak reaction: 1 points)
Table 2.12: IFE matrix of VSH
No Elements in the enterprise Important level Sort Important score
1 Leaders are enthusiastic, have vision, have good relations with local authorities
2 Have experienced implement investment projects in construction, have high speciality and experience in this area
4 Price of hydropower has high competitive ability
5 Investting in expand business on both depth and width
6 Limitation in human resorce and management ability
7 Machineries have high technology and stable in operation
8 Financial ability of the Company is not active, based heavily on loans
9 Electricity price is depended on EVN 0.1 2 0.2
An evaluation of a company's internal elements reveals a moderate response to impactful factors By leveraging strengths and addressing weaknesses, the organization can achieve stable and sustainable growth.
Building strategic goals in VSH
3.1.1 Determine the mission and strategic goals of the company:
The company is an enterprise business in the Power Sector; therefore, the development of the company always must be placed in the development of the sector.
Since then, when determining the strategic objectives of the company, we must rely on the general development trend of the industry and aims to grow the Vietnam economy
* Mission of VSH: important contribution and with EVN to ensure sufficient power supply for the development of socio-economic of Mien Trung and Tay Nguyen area
* Vision of VSH: Construction company become a leading company about
Power supply of Mien Trung and Tay Nguyen area
3.1.2 The strategic objectives of the company:
- Development and production business hydroelectric energy resource (mainly in the coastal Mien Trung) Make sure to provide more electricity for the country
The company collaborates with various economic sectors to enhance the organization of legal profession production, ultimately boosting business effectiveness and benefiting employees, shareholders, the company, and society as a whole.
Within 01 years, focused implementation: innovation management and operation methods, created the initiative in production and business to meet the developmental needs of the industry
- To promote efficiency, improve productivity capacity of the two Vinh Son Song Hinh hydropower plants and now the company is owning and managing them.
The Vinh Son hydropower plants' production capacity improvement project, completed in 2007, focused on enhancing the reservoir capacity of Lake C This initiative required a modest total investment yet delivered significant economic benefits, resulting in an increased output of 78 million kWh annually.
Over the next five years, we will focus on significant investments in new construction projects, expanding production capacity, and maximizing the efficiency of our electricity business to meet the increasing domestic demand for power consumption.
* Investment in building hydroelectric plants upper Kon Tum:
Energy of annual average: 1094 million Kwh
* Investment in building hydropower projects Vinh Son 2:
Power of annual average: 365 million kWh
* Investment in building hydropower projects Vinh Son 2:
Energy of annual average: 102 million kWh
* Considering the construction investment of Dong Cam hydropower projects: Power Capacity: 120 MW
Choose the business strategy for VSH
From the analysis general results of the EFE Matrix and IFE Matrix, and set SWOT matrix in order to identify strengths, weaknesses, opportunities and risks of the market
2 High growth rate DPP lead to increase in electricity demand
3 Increase in Government and Society for Electricity industry
4 Many new changes in investment and construction policy
5 Producing electricity market is setting up
1 Input for production is much depended on environment
2 Income growth rate is not too high and stunned
3 Interest rate increases and higher exchange rate risk
4 Increasing in competition of electricity industry
5 Increasing in price of inventories
3 Good financial situation and tax income is low
- SO-1: Deploying efficiency and ability in producing electricity to reduce cost
- SO-2: Focusing on hydropower producing
- ST-1 Deploying efficiently current power to lower cost
- ST-2: Coordinating with domestic and foreign investors to maintain and enlarge market share production in both depth and width
6 High and stable quality machineries
7 Good relationship with local government and banks enlarge hydropower plants to increase capacity.
1 Depending on EVN selling price
2 Lack of human resource and limitation in management new project
3 Enterprise cultural is not really attract employees
Improving in management ability and creating a friendly and attractive working environment to employees.
Having new plan to train for employees
Continuing to invest on short term financial investment Reduce exchange rate risk
Promoting new idea to incease capacity and lower production cost.
Through a qualitative and specialized approach, we conducted a thorough analysis of VSH's strengths, weaknesses, opportunities, and threats during the 2010 to 2015 period Engaging with industry specialists, managers from various offices, and the company's board of directors, we identified and selected key strategies for further examination, including SO – 1, SO – 2, ST – 1, and ST – 2.
-Using qualitative GREAT matrix to make the best chose for the company:
Table 3.2: GREAT matrix of VSH
SO – 1 SO – 2 ST – 1 ST – 2 WO
Evaluationpoint ConversionPoints Evaluationpoint ConversionPoints Evaluationpoint ConversionPoints Evaluationpoint ConversionPoints Evaluationpoint ConversionPoints
Basing on below analysis, we decide to choose some of strategies:
The first strategy focuses on enhancing efficiency and capacity to achieve lower production costs By increasing the capacity of water reservoirs, the company can boost output while reducing the cost per kilowatt-hour (Kwh) This approach allows VSH to offer lower prices than its competitors, gaining a competitive advantage in electricity production.
The second strategy (SO-2) emphasizes the expansion of hydropower production by increasing capital investment This centralization strategy aims to meet the growing demand for electricity within the country By implementing this approach, VSH can significantly enhance its market share in the electricity sector.
The strategies implementation solutions
Strengthening management in all aspects, improve their labor management, technical management, operations management, implement periodically repaired to improve the stability of the technical equipment in production and ensure safety
Improve ability of operation workers, improve the inspection process operating power plants
Reduced rate for electronic production, increase the rate of commercial electricity using the power saving measures, reducing losing electricity
Research renovating and upgrading electrical equipment to enhance stability of the plant operation, ensuring absolute safety for workers
Save costs and reduce the price to increase competitiveness when the company take part competitive electricity market for coming years
Actively looking for investment partners, the loans to expand production and business development Effectively using of basic depreciation capital and annual leave profit
Vinh Son-Song Hinh Hydropower Joint Stock Company, backed by substantial financial resources derived from an annual depreciation capital of approximately 150 billion, is well-positioned to engage in the construction, investment, and operation of large-capacity hydroelectric plants.
Financial activities significantly impact the overall operations of an enterprise, with key indicators such as liquidity, debt, operational efficiency, and profitability reflecting the business's financial health Analyzing these financial metrics enables companies to identify their strengths and weaknesses, facilitating the development of effective strategies to promote growth and mitigate risks To enhance financial performance, VSH should implement targeted financial solutions that address these critical areas.
- Optimizing profit through branches compare and competitors such as analysis of the indicators of flexibility, efficient using of capital and profitability
- Strengthening capital generating activities: Need to diversify the methods to create capital to ensure financial resources for production and business operations of the company
To make the recovery of capital and raising capital, the company can perform a number of measures follows:
+ Management revenues, to ensure the full collection and avoid owed;
+ Maintain good relationships with the Bank by guarantee held by reputation, find the regular support of Bank;
+ Mobilize capital from shareholders with a reasonable mobilization plan, have benefit for shareholders Take advantage of opportunities on the stock market;
Vinh Son - Song Hinh Hydropower Joint Stock Company is dedicated to enhancing technical services for hydroelectric power plants Our team comprises highly qualified management and technicians who possess extensive practical experience in the field.
With a decade of experience, our company is well-positioned to offer specialized management services for hydropower plants, a rapidly growing market The government's push for increased investment in the energy sector further enhances the potential for expanding these services While many investors possess the capital and capability to import machinery and construct plants, they often lack the operational expertise needed for effective power plant management post-construction This gap presents a significant opportunity for VSH's skilled management team and technicians to thrive in this promising market.
In the future, the company aims to enhance organizational structure and boost operational efficiency at the Vinh Son-Song Hinh Hydropower plants through targeted initiatives.
To enhance the water capacity of Lake A Vinh Son and boost the plant's production capabilities, a comprehensive renovation solution is proposed with an estimated total investment However, the project's progress has been hindered by complex upgrade techniques, leading to delays in surveys and processing To address these challenges, it is crucial for the company to urgently collaborate with the Irrigation Technology Transfer and Consulting Joint Stock Company to finalize the project documentation The lake upgrade project is expected to be completed and operational by the end of 2007.
The Song Hinh Lake upgrade project, with an estimated investment of approximately 100 billion, aims to enhance reservoir capacity and minimize excess water discharge This initiative is expected to boost the power output of the Song Hinh hydropower plants by around 60 million kWh annually.
3.3.2 The centralize strategy implement solutions group:
3.3.2.1 Promoting the new construction of new hydroelectric plants:
According to EVN’s forecast, electricity demand was 112 billion kwh in
2010 (double in 2005), was 190 billion kwh in 2015, was 294 billion kwh in 2020, was 431 billion kwh in 2025 But the ability to supply follow Power VI planning, to
In 2010, electricity consumption was approximately 93 billion kWh, which surged to around 150 billion kWh by 2015, highlighting a significant capacity shortage This urgent need for additional power generation has led the country to import electricity from China at elevated prices.
Particular, the current potential of hydropower as the effect was almost exhausted
VSH currently possesses financial resources exceeding 1.374 billion, enabling significant investments in new projects The company has a strong capacity for capital raising from shareholders and can easily secure loans, positioning it well for the construction and operation of large-capacity hydroelectric power plants The Thuong Kon Tum, Vinh Son 2, and Son Vinh 3 power plant projects have received approval from authorities as part of the national power development plans, demonstrating high economic efficiency with a relatively low investment rate of approximately 20 billion per MW Additionally, VSH leverages its human resource management expertise, particularly from experienced personnel in hydropower management, to effectively oversee new investment projects.
To capitalize on emerging business opportunities, VSH should promptly initiate the construction of the Vinh Son 2 and Son 3 hydropower plants alongside the ongoing Thuong Kon Tum Hydropower project.
The Vinh Son 1 plant is strategically located near the factory, enhancing transportation efficiency and simplifying project management by allowing simultaneous oversight of multiple projects Additionally, the upcoming operation of the Vinh Son 2 plant will effectively utilize the excess capacity from the Vinh Son 1 reservoir, which is currently underutilized.
3.3.2.2 Solutions for personnel and labor:
Labor productivity plays a crucial role in determining the efficiency and cost structure of enterprises; higher labor productivity leads to reduced unit costs of products Therefore, developing human capital solutions tailored to the specific conditions of a business can significantly enhance its strategies and drive efficiency.
VSH's human resource development planning focuses on enhancing the management skills and professional capabilities of its workforce, fostering innovation, and reducing production costs Failure to effectively implement this plan could hinder the company's competitiveness and impact the success of its strategic objectives.
To enhance project management and operational efficiency in factory construction and operations, companies must strengthen their human resources by strategically planning labor demand for each profession This includes organizing training and retraining programs for both direct and indirect employees, with a particular focus on technical workers and specialized engineers Additionally, it is essential to develop comprehensive training plans for leadership positions across all levels of the company to support rapid production growth and the diversification of business strategies.
A recent study highlights that adapting cultural change to align with new strategies is often more effective than altering strategies to match existing cultural environments The key challenge in transforming the cultural landscape involves establishing behavior standards, implementing work standards, providing coaching and training, and applying effective incentive systems.
Recommendations
The government has enacted the "Law on Energy Audit" to address energy loss and promote power conservation This legislation mandates the development of sub-law documents aimed at implementing effective power-saving measures and addressing energy waste, particularly in administrative offices and public entities The law emphasizes that energy-saving practices are a responsibility that all organizations and individuals must adhere to, ensuring strict compliance with financial institutions and relevant regulations.
Vietnam is currently facing challenges in attracting significant investment for power plant construction due to a lack of competitive electricity pricing mechanisms The government's proposed plan to increase electricity prices aims to address this issue, as current rates remain considerably lower than those in the region By implementing regulations that promote a market-driven pricing structure, the government seeks to foster a competitive power generation market in Vietnam.
3.4.2 For the provincial People's Committee of Gia Lai, Kon Tum, Quang Ngai, Binh Dinh, Phu Yen:
The Steering Committee of the districts, along with relevant functional departments, is actively involved in the environmental impact assessment and selection of plans This collaboration aims to ensure that projects are aligned with economic security and defense strategies, facilitating the timely implementation of planned activities.
To efficiently manage agricultural and environmental resources, it is essential to allocate land promptly for cultivation and settlement This includes the timely implementation of projects and protective forests, as well as ensuring swift compensation and clearance processes These efforts aim to establish a stable and improved quality of life for relocated communities.
Building business strategy is an indispensable issue in any business, especially in the competitive time open economies
In 2015, Vinh Son - Song Hinh Hydropower Joint Stock Company explored strategies to enhance its business operations, drawing from both theoretical research and practical assessments The focus was on identifying effective solutions to shape the company's strategic direction.
Business strategy is a fundamental concept that plays a crucial role in the marketplace, guiding organizations towards sustainable growth and competitiveness Understanding the process of developing effective business strategies is essential, as it encompasses various types commonly employed by companies A critical step in establishing a business strategy involves analyzing the business environment, including both macroeconomic factors and the specific context of the enterprise This analysis helps identify the strengths, weaknesses, opportunities, and challenges that businesses face, enabling them to craft informed strategies for success.
Between 2005 and 2010, the Vinh Son - Song Hinh Hydropower Joint Stock Company developed its construction planning and strategic thought through various survey methods This analysis led to the formulation of a comprehensive business strategy for the company, aimed at guiding its operations and growth through 2015.
The power sector is crucial for the national economy, supporting production, business services, and the overall quality of life The advancement of the electricity industry serves as a foundation for the industrialization and modernization of countries, contributing to broader economic development In South Vietnam, the economy is experiencing an average growth rate of 8% annually, accompanied by a significant increase in electricity demand of approximately 12% per year Consequently, the electricity industry has consistently met these demands up until 2020.
In addition to operating power plants present, the State encourages foreign investment and participation in the construction of the power in the independent
Investment decisions to enhance production capacity at the Vinh Son Song Hinh hydropower plants and the long-term development of the Thuong Kon Tum, Vinh Son 2, and 3 facilities align with government policies that promote investment through tax exemptions and land rent relief These incentives are crucial for hydropower projects in challenging remote and mountainous regions The main challenge remains in capital raising and efficient business management to maximize economic returns The Vinh Son Song Hinh Hydropower Joint Stock Company serves as a successful model of equitization, effectively mobilizing capital from various economic sectors and bolstering the reputation of the Electricity Group of Vietnam among domestic and international investors By applying strategic management theories, including competitive analysis and frameworks like EFE, IEF, and SWOT, the thesis has developed both short-term and long-term business strategies for VSH, culminating in a strategic plan for 2015.
This thesis aims to provide research findings that will assist leaders in effectively identifying opportunities, enhancing competitive advantages, reducing risks, and addressing challenges in production and business operations, ultimately fostering stability and sustainability for the company.
Due to limitations in expertise, experience, and comprehensive research, many essays may lack thorough analysis and evaluation We welcome constructive feedback from teachers and peers to enhance the quality of our thesis.
Appendix 1: Consolidated income statement of VSH
3 Gross profit from sales of merchandise
1 Money and equal items like money 52.759 228.784 37.989
2 Finacial items of short term investment 57.740 510.685 835.685
3 Items need to be collected in the short-term period 25.435 70.558 100.813
Must to reeive from the customers 23.195 62.356 60.324
Must pay to sellers in advance 859 2.861 2.363
Price reduction precautions of commodities in stock -2.000 -5.194
Taxes and other items receiving from the government 659
Investment into associated companies and joint venture companies 10.419
Income taxes of assets hangin on 560 560
Loans and short-term debts 117.823 101.279 104.310
Must to pay the sellers 4.753 12.782 1.308
The customers pay in advance 200 600 155
Taxes and other items paying to the government 762 5.976 6.942
Paying items and other short term items 90 141
Must to pay long term items 224.725
Loans and long term debts 420.525 313.901
Income taxes hanging on to pay
Surplus of joint stock capital 370.661 370.661
Benefits after taxes not distributed 95.174 26.966 309.533
2 Expenses and other funds sources 188 1.337 1.298
Fund of rewards and welfare benefits 178 662 677
Expenses to form fixed assets 10 674 621
1 Incorporated audit report in 2006, 2007, 2008 Vinh Son - Song Hinh hydroelectric joint stock company
2 Business - Finance Plan in 2008 and aims to grow the next years of Vinh Son
- Song Hinh hydroelectric joint stock company
3 Fred R David (1995) (translated by Truong Cong Minh, Tuan Tran MA, Tran Thi Tuong Nhu), treatise on strategic management (An introduction on strategy management), Stastics Publishing House, Hanoi
4 Duong Ngoc (2007), "Overview of Vietnamese economy in 2007", Vietnam Economics Times, Vietnam and Economics World 2007-2008, p 4
5 Huan Dao Duy (2007), Strategic Management (in the economics globalization), Statistical Publishing House
6 Fred David (2006), treatise translation on Strategic Management, Statistical Publishing House
7 Le The Gioi, Nguyen Thanh Liem, and Tran Huu Hai (2007), Strategic Management, Statistical Publishing House
8 Nguyen Khoa Khoi and Dong Thi Thanh Phuong (2007), Strategic Management, Statistical Publishing House
9 Nguyen Thi Lien Diep and Pham Van Nam (2006), Business Strategy and Policy, labor - social publisher
10 Pham Thi Thu Phuong (2007), Strategic Management in the global economy, scientific publisher and technology
11 Syllabus, the lecture slides of subjects Management Marketing, Management Strategy, Economic Management - Training Program Master of International Business Administration, University of Griggs (USA)