(TIỂU LUẬN) STRATEGIC MANAGEMENT FOR TOURISM AND HOSPITALITY

STRATEGIC MANAGEMENT FOR TOURISM AND HOSPITALITY BUSM4572 - Semester 1, 2021 Assignment 3A - Strategic Management Group Report Nguyen Thi Quynh Nhu (s3740838) Nguyen Tra My Edwards (s3759026) Group Members Nguyen Khanh Huyen (s3794744) Tran Giang Ngoc (s3802257) Lecturer Dr Nuno Rebeiro Class Thursday 11:30 AM - 14:30 AM Date of submission 21st May 2021 Table of Contents INTRODUCTION - 270w MACRO ENVIRONMENT - 410w 1.1 Political Factor 1.2 Economic Factor 1.3 Social Factor 1.4 Technological Factor 1.5 Environmental Factor 1.6 Legal Factor MICRO ENVIRONMENT - 350w A Threats of new entrants (Very Weak) B Bargaining power of buyers (Weak) C Bargaining power of suppliers (Moderate) D Threat of substitute products (Strong) E Rivalry among existing competitors (Weak) CORPORATE’S SUSTAINABLE COMPETITIVE ADVANTAGES- 570W 1.1 Resources and Competencies 1.2 Tangible Resources 1.3 Intangible Resources 1.4 Core competencies 1.5 VRIN Framework 10 CURRENT STRATEGY IDENTIFICATION - 770w 10 Business Strategy 11 Different Level of Current Strategy 11 NEW STRATEGIC INITIATIVES - 683w 13 School of Business and Management Critique of current strategy 13 New Strategy 15 STRATEGY IMPLEMENTATION AND EVALUATION 800w(incl.risk) 17 RISK MANAGEMENT 17 CONCLUSION 330w 17 References 18 Appendix 24 School of Business and Management INTRODUCTION The purpose of this report is to review the micro and macro environment of Vietnam Airlines (VNA) within the aviation industry to evaluate the current strategy, discuss the current generic type of business strategy; presenting a new strategy as well as evaluate its effectiveness in achieving the organization objectives and implementing properly Vietnam Airlines (VNA) is the leading national airline in Vietnam Before Covid-19 hit, in 2019 alone, the company projected the record revenue of 100,316 billion VND, exceeding 8.3% in its annual plan and achieved its new record as the best performance ever (Vietnam Airlines 2020) However, the COVID-19 pandemic has an unprecedented crisis to all airlines, VNA recorded a loss of 10,676 billion VND, caused by total assets decreased by 17.6% with increasing major debts and lower significant equity (TTXVN 2021) In such a context, it requires urgent application of a series of policies to respond quickly to the new situation The outline of the report starts with a micro and macro environment analysis to identify the trends and competitiveness within the aviation industry to develop strategic context Through the analysis, resources and competences of the organization that are likely to identify sustainable competitive advantages to compete within the industry by using different frameworks Therefore, aligning with VNA's vision of the objective to rehabilitate the revenues and routes in 2023 and developing a sustainable aviation company to 5-star by 2030, is a major difficulty that every level of the organization needs to involve The results of the plan will favor the social and economic development of Vietnam, involving the objectives of adopting both the Retrenchment strategy, applied for the short-term (2021 - 2023) and Growth strategy, to be resumed from 2024 onwards MACRO ENVIRONMENT The P.E.S.T.E.L framework by Aguilar is applied to demonstrate critical external factors that intensely influence the tourism industry 1.1 Political Factor To help firms deal with the COVID-19 pandemic, the Government deducted revenue tax relief up to 30% for middle and small businesses (Huy Thang 2021) The airline industry needs strong support from the Government in terms of the post-recovery pandemic process since it is a pivotal sector in the value chain (Minh Tuan 2020) 1.2 Economic Factor Tourism is ranked 4th in terms of the country's GDP contribution In 2019, the GDP was high compared to other countries , although the slow growth in the first quarter of 2019 School of Business and Management The trade war between the U.S and China brings Vietnam certain chances and challenges regarding labor force upskilling and infrastructure enhancement National income is another aspect, in 2008, there were 20.5 million domestic travel trips, then enormously reached 80 million in 2018, whose main objectives are the Vietnamese’s growing middle class (World Bank 2021) 1.3 Social Factor As for demographics, there were 96.5 million people in 2019, 55% under 35 years old, which is highest among neighboring countries with similar income levels (World Bank 2021) The psychology and behavior of Vietnamese people mainly concentrate on quality, brand attributes and good purchasing experiences Digital behavior regarding multi-channel and omni-channel and young customers’ demand for quality require effective loyalty programs School of Business and Management 1.4 Technological Factor Several projects such as Metroline, upgrading and constructing inner-city highways (Xuan Tung, Thu Dung & Duc Phu 2020), the opening of high-speed train 320km/h (Vietnam News 2021) are other cheaper and speedy transports alternatives that can be formidable rivals for the airline industry In addition, the Government attempts to industrialize the economy with such technological innovation and start-up support (Vietnam Briefing 2020), to help improve customer’s journeys, yet the digital transformation stands at the infancy stage (Deloitte 2020) 1.5 Environmental Factor Industrial development along with travel rampant has seriously caused environmental pollution and natural resources damages (Ai Vuong 2016) Another drawback comes from lacking longterm vision related to the policymaking process as well as concern towards environmental issues (Tuan & Rajagopal 2019) 1.6 Legal Factor Vietnam has a friendly border since the Government is willing to provide visas for almost all countries globally However, the impacts of COVID-19 resulted in the restriction of the international flight that seriously affected Vietnam Airlines business Besides, to encourage tourism purposes, many banks have offered loans for tourists MICRO ENVIRONMENT Porter's Five Forces model will be used to identify and analyze the five competitive forces that shape every industry and aid in determining an industry's weaknesses and strengths A Threats of new entrants (Very Weak) Despite being ranked third in the Asia-Pacific region for quickest development, Vietnam's aviation industry is deemed low entry due to high entrance barriers, such as economies of scale, high capital costs, and a limited supply of suitable locations, which limit new entrants The government has taken attempts to ease the requirements for entering the aviation industry; School of Business and Management nevertheless, due to the severe laws prohibiting outside investors from owning aircraft, these are largely domestic competitors B Bargaining power of buyers (Weak) As a full-service airline with a 4-star service rating, Vietnam Airlines targets customers who are not price-sensitive and are willing to pay more for excellent service The concentration of a big group of consumers, such as tour operators, domestic/international hotel or convention organizers, and the prevalence of poor profit margins are not included in this analysis As a result, customers have little or no control over pricing changes C Bargaining power of suppliers (Moderate) Vietnam Airlines' main suppliers include aircraft (Boeing, Airbus, etc.) as well as smaller providers in the area of food and beverage, human resources,etc The choice of aircraft suppliers requires the prestige of demonstrating product certification However, the low cost of switching raw materials, market availability, and rivalry makes suppliers' bargaining leverage low to moderate D Threat of substitute products (Strong) Air travelling becomes one of the major modes of transport which brings about many customer segments and they tend to be price sensitive The threat of substitute products is high due to the fact that the switching cost is low, which means passengers can switch to other low-cost airlines such as: VietJet, Pacific Airlines and Jetstar E Rivalry among existing competitors (Weak) Service is a highly competitive industry where the boundary between product differentiation is hard to define Currently, in the domestic market, Vietnam Airlines has main direct competitors including: Vietjet Air, Jetstar Pacific, Bamboo Airways and VASCO, in which, VietJet Air is considered the main competitor with 43% market share Hence, the rivalry among existing competitors for Vietnam Airlines is medium to high School of Business and Management CORPORATE’S SUSTAINABLE COMPETITIVE ADVANTAGES 1.1 Resources and Competencies Resources can be defined as stocks of tangible and intangible assets available for the company, whereas competencies are routines for the deployment of resources (Galavan 2015) They represent the main source of competitive advantage and profitability for any enterprise that can enable businesses to drive the industry and to compete with its products and offering to customers needs (MBA Skool Team 2020) This section uses one of the most cited models of the resource-based view of the firm, VRIN model, to describe how Vietnam Airlines can achieve sustainable competitive advantage through resources that fulfill certain criteria (Salminen 2017) Resources can create a competitive advantage, but they must be scarce, distinctive, non-tradable, inimitable, durable, idiosyncratic, and non-substitutable (Pearson, Pitfield & Ryley 2015, p.179-189) 1.2 Tangible Resources Capital Vietnam Airlines, 86% owned by the government, using various capital sources to ensure sufficient provision of financial resources for investment needs (Reuters Staff 2020) Due to the global crisis brought by the COVID-19 pandemic, Vietnam Airlines recorded a net loss of $453 million in the first months of 2020 However, Vietnam's National Assembly approved a plan to increase the capital of state carrier Vietnam Airlines following the coronavirus pandemic by School of Business and Management purchasing new shares from the country's flag carrier via its State Capital Investment Corp (SCIC) (Reuters Staff 2020) Modern aircraft Vietnam's largest airline fleet In its journey to become a 5-star airline, Vietnam Airlines successfully flew its first Boeing 78710 Dreamliner, one of Asia's youngest and most modern fleets capable of performing efficiently and effectively while providing exceptional passenger comfort and amenities advanced technology (Vietnam Airlines 2019) Advanced Technology The airlines also introducing the ecoDemonstrator program which aimed to solve contemporary issues and create safer and more sustainable flights by using less noise reduction technology, UV lights technology to sterilized aircraft cabins and cockpits to deal with the COVID-19 pandemic and sustainable fuels that can reduce CO2 emissions by up to 75% (Vietnam Airlines 2018) 1.3 Intangible Resources Brand Reputation Vietnam’s aviation industry is primarily driven by two main types of airlines which are full cost and low-cost airlines Vietnam Airlines is the largest full - cost airline in Vietnam, providing large, complicated operations with numerous staff and different types of aircraft to support both domestic and international flights (Mai & Le 2014) Service quality The brand Vietnam Airlines after ten years of membership in Skyteam is similar to other airlines in the region, which also have positive changes to service quality Vietnam Airlines, in particular, was recognised as a - star airline by SkyTrax for four consecutive years from 2016 to 2019 due to its consistent service level (Vietnam Airlines 2020) 1.4 Core competencies Pearson, Pitfield and Ryley (2015, p.179-189) stated that resources which meet all four requirements of VRIN are considered core competencies and sources of sustained advantage Digital transformation Vietnam Airlines is continually seeking a transformation to a digital airline to improve service quality and customer experience as a step in becoming a - star airline Specifically, the business leverages the development of ICT in Vietnam to digitize flight management documents, artificial School of Business and Management intelligence (AI) and Big Data in business, operations, and fleet management and applies automation and customization to enhance the customer experience (Vietnam News 2019) Self-training transshipment program One of the most outstanding advantages of Vietnam Airlines is the ability to localize the pilot training program by launching its first simulator complex in Vietnam, allowing the brand to take the initiative in training, ensuring that pilots meet the safety criteria This self-training transshipment enables saving up to 285 billion in 10 years (Vietnam Airlines 2018) 1.5 VRIN Framework School of Business and Management 10 flights, consequently, recevied three honoured awards and ranked 4-star as one of the best 20 airlines on Skytrax for its services (Nguyen 2019) Functional Level This level incorporates the activities and subfunctional activities to achieve the goals According to the framework of Ansoff’s growth strategies, product development emphazing on presenting new products to existing market to boost market share (Hussain et al 2013), and VNA literally applied this concept Figure 4: Ansoff’s growth strategies R&D Department To achieve its goal, Vietnam Airlines added the VNPay QR code mobile application (Nguyen 2019) Cyber security, development of services including e-payment are other main focuses Moreover, the firm enabled the e-documents and e-flight folders (Vietnam News 2019), and collaborates with VNPT Service Provider Group to develop the leading technologies to resolve School of Business and Management 12 the digital transformation issues (Ngoc Lan 2019) Additionally, the firm represents the airlines to work with partners from IATA on a digital health passport project to manage travel health credentials (VietnamPlus 2021) Marketing Department Besides product innovation, Vietnam Airlines emphasized on enhancing their services by launching a new international campaign “Reach Further” to exhibit the carrier’s fleet and ultramodern features to deliver superior flying experiences (Marketing 2015) HR Department Improving service along with nurturing the core competencies of human resource, Vietnam Airlines has intensified its training and development programs for all staff and cabin crew (Nguyen 2019) Specifically, in 2019, “Changing The World '' workshop 10 (Pham 2019), safetysecurity training courses with IOSA standards and English courses were also provided (VNA 2019) NEW STRATEGIC INITIATIVES Critique of current strategy To assess whether VNA’s strategy is suitable for the current day, the Balanced ScoreCard is used It is a tool for strategic management which determines if an organization’s business practices correspond with its vision and strategies (Grigroudis et al 2012) School of Business and 13 (Figure Balanced Scorecard, Bigliardi & Bottani 2010) Vision and Strategy To maintain the no position of a national flag carrier and become a leading digital airline in Asia (VNA 2019) ● Financial perspective: Increase shareholders’ investment values ● Customer perspective: Offer high quality and diverse services to meet customers’ expectations ● Internal Business Processes perspective: Moving towards digital transformation to enhance business operation ● Learning and Growth perspective: Continue to deliver – star services and strive for star standards Strengths There is consistency between VNA’s vision and its internal business processes, which emphasizes on the business’s continuous effort to apply technology to enhance efficiency and to offer greater customer service, implicating that the firm is very customer – oriented VNA also leaves itself room for growth, as it aims to achieve - star standards These ambitions are supported from the financial perspective, where VNA gets the government's support as it is 86% owned by the government (VNA 2016) Limitations In the domestic (Vietnam) market, VNA’s succeeds with its differentiation strategy, but in the regional (Asia) market, VNA still struggles with differentiation because compared to other Asian airlines like Japan Airlines, Cathay Pacific, Thai Airways, Malaysia and Singapore Airlines, VNA is rated 3* only, while the others are rated 4* and 5* (Pearson et al 2015) Furthermore, the growth strategy alone is not suitable for the current situation where Covid 19 is still prevalent With closed international flights, the domestic market becomes fiercer and VNA has to compete not only with low - cost airlines but also with trains and buses (Nguyen 2021) In School of Business and Management 14 2020, VNA’s revenue fell 59%, flights decreased by 48% and passengers dropped by 51% (Thuy 2021) Hence, there is a need for a complimentary strategy New Strategy Although the firm needs restructuring, it still expects to make profit as of 2023 and resolve all losses by 2025 (Thuy 2021) Thus, VNA should adopt both the Retrenchment strategy, applied for the short-term (2021 - 2023) and Growth strategy, to be resumed from 2024 onwards Retrenchment Corporate level: For the next years, VNA should implement retrenchment, which is to reduce the level or the size of operations to prevent corporate value loss It is suitable for a turbulent environment with negative economic conditions, low ROI and unstable markets (Ung et al 2016) Business level: Retrenchment consists of asset retrenchment (divestitures, closing and laying off) and cost retrenchment (reducing marketing expenses, salaries, administrative and other indirect costs) (Morrow et al 2004) This will help VNA to reduce business complexity and become agile when responding to environmental changes Functional level: VNA should continue taking these following downsizing actions to increase business efficiency In terms of finance, divesting a part of the firm’s investment capital at highly efficient businesses in the aviation industry to improve the firm’s finance and get support from the government for selling additional shares to raise capital (Thuy 2021) and increasing liquidity via more bank loans (Flight Global 2021) Regarding logistics, they should negotiate with suppliers for late payments (Flight Global 2021) and boost cargo transport (Giang 2020) As for operation, remodeling production and modifying business scale (Giang 2020) Lastly for human resources, reorganizing labour and adjusting salary policies (Giang 2020) Growth Corporate level: Considering VNA’s goals for 2025, the brand should maintain the market positioning of the best airline in Vietnam and continues to strive to be a 5* digital airline School of Business and Management 15 Business level: The firm should continue streamlining processes through technological innovations while transitioning from – star to – star standards by utilizing its competitive advantages analysed earlier and generating new USPs Functional level: Once the pandemic is controlled and the aviation industry gets back to normal operation, VNA should learn from other - star airlines and adopt these new tactics and measures: The Emirates provides customers with hygiene kits and protective gear for cabin crew and aircraft disinfection (The Emigrates Group 2021) Likewise, Garuda Indonesia and Singapore Airlines with exemplary hospitality delivered by excellent frontline staff and consistent onboard product standards; and Japan Airlines’s Economy Class elevated with comfortable seats and inflight entertainment (SkyTrax 2020) Besides, Etihad Airline introduces multi-lingual Wellness Ambassadors offering 24/7 customer support on travel health, wellbeing and sanitation These services are available on web chat and email (Future Travel Experience 2021) STRATEGY IMPLEMENTATION AND EVALUATION - 800w Each service organization has its characteristics, therefore, many approaches are drawn from a variety of disciplines Using Okumus et al., (2010) school of thought, the Configuration Approach reflects the complexities and dynamics of the strategy process that need to be thoroughly understood, a cluster of interconnected structures, linked processes, and mutually dependent practices that is best viewed systematically Analyzing the position of Vietnam Airlines in the market, based on the BCG matrix, VNA is gradually step-by-step turning from a star to a cash cow, to eliminate the possibility of low growth in the domestic market, analysis of internal context and operational process are under investigation Internal context (org structure, culture and leadership) In the internal context, the distribution of power and the dominant organizational dimension are the two main criteria that differentiate the typical configurations (Janićijević 2017) Vietnam Airlines has a large hierarchy organizational structure, the implementation of strategy needs to align the organization structure to business strategy The individuals are responsible for developing and deploying the strategy and monitoring results VNA has a general meeting of shareholders where the Board of Directors (BOD) will directly Receive instructions from the executive board to implement a strategy to deal with a huge capital loss situation Regarding the experience, skills, and competencies needed to execute the strategy, the CEO and Execute Management are responsible for managing different departments, the need to adapt quickly and strategically is essential for success in a high-performance organization (Figure 6) School of Business and Management 16 VNA’s starting point as a Full-Service Airline Carrier (FSC), the company organization structure characterized by hierarchical and vertical whose functional and divisional departments are separate, designed to align experts in the respective fields, where individuals perform tasks where they are most proficient However, VNA structures can experience the “silos”effect and often fail to communicate or coordinate effectively, cross-functional can be difficult to promote, especially resistant to change (SHRM n.d.) With centralized decision-making, VNA can take advantage of economies of scale and centralized purchasing functions To execute the short-term strategy, the corporate needs to look into the positions where unnecessary resources are excluded for longterm benefits Culture exercises an indirect form of control, Vietnam Airlines’ organizational culture is mainly based on the Clan as well as the Hierarchy culture model It wants to continue to strengthen the Clan and Adhocracy culture model, limited Hierarchy culture model (Nguyen 2017) With a general rating of 3.917 / points, the company values employees well-fair and provides benefits to maintain the company’s cohesiveness and solidarity Vietnam Airlines’ corporate cultural values have been nurtured over our 25 years of development, its target is to become the Favourite Workplace in Vietnam (Vietnam Airlines n.d.) To preserve and promote cultural strengths at the workplace, Vietnam Airlines has launched a series of School of Business and Management 17 cultural programs such as Safety Culture, Office Culture, Four “Xin” (please) – Four “Luôn” (always), Accelerating improvements Faster and Higher as the basis of employees’ work ethics, attitudes, and behaviors The focus is on communicating messages on corporate value to customers and shareholders through promotion campaigns containing strong brand images Operational process (operating planning, resource allocation, people, communication and control) New service standards are frequently updated, following guidelines from Vietnam’s authorities such as the Ministry of Health, the Civil Aviation Administration as well as the International Air Transport Association (IATA), and SkyTeam Alliance's Skycare & Protect (VNA 2021) VNA’s strategic network will continue to develop its route network departing from Ha Noi - Da Nang Ho Chi Minh City and promote new hubs and coordinate with JPA and VASCO in product offerings VNA's business activities mainly focus on developing service centers and upgrading to - star Skytrax standards to differentiate services from low-cost (LCC) and hybrid airline competitors In terms of short-term strategy, staff cuts are implemented on all foreign pilots and flight attendants All employees have to reduce wages, policies for employees working voluntarily without pay, on rotational leave, or part-time Instead of giving Tet bonuses in cash, many Vietnamese airlines have switched to giving Tet bonuses to employees in kind, such as air tickets and vouchers to encourage employees' morale To execute the long-term strategy, VNA uses a combination of solutions including increasing owner’s equity, mobilizing capital from capital markets, and utilizing the Sale and Leaseback (SLB) structure, VNA also restores its financial investment portfolio to focus capital on its core business In its long-term investment strategy, VNA improves the capacity of aircraft operation and maintenance, as well as IT infrastructure Spend 50% of the investment capital on the fleet and 50% on other aspects In communicating the strategy, executive management level delivers purpose to stakeholders, current situation, what we are trying to achieve through the actions In the situation where we need to recover our loss A strategy map provides the visual foundation of a business strategy It provides the means by which a business can communicate its strategic plan to customers, employees and stakeholders School of Business and Management 18 Figure 7: Strategic Mapping for VNA and Balance Score Card modeling business Adapted from Teixeira (2018) School of Business and Management 19 RISK MANAGEMENT CONCLUSION This report analyzed the macro and micro environment around VNA, investigated the business competitive advantages and the firm’s current strategy, suggested new strategies for VNA to adopt, and provided insights about how VNA can implement and evaluate new strategies The macro environment which was analyzed according to the PESTEL model shows that Vietnamese businesses get government’s support with tax reduction policy; positive economic growth and growing middle class while facing challenges including the high expectations of young customers; competition from a smarter transportation system; prolonged pollution; and restriction in travel policies due to the pandemic As for the micro environment, applying Porter’s forces, VNA benefits from low threat of new entrants, low bargaining power of buyers, moderate bargaining power of suppliers, high risk of substitute and medium high competition with LCC School of Business and Management 20 VNA’s current strategy is differentiation, charging high prices for - star services combined with the growth strategy with the aim to upgrade from to star This strategy is consistent with the firm’s technological innovation and has succeeded in VN, but compared to other Asian airlines, VNA’s is rated lower The growth strategy by itself is not suitable for the current Covid situation Therefore, strategies were proposed: retrenchment (downsizing and streamlining resources and processes) for the short term (2021 – 2023) and growth (2024 onwards) to continue the goal of becoming a digital – star airline During strategy implementation, the board of directors will initiate changes and communicate with the CEO and Execute Management department Although having a hierarchical structure which can be challenging to coordinate between all departments, VNA still benefits from economies of scale For strategy evaluation, VNA can use the Balanced Scorecard framework to make sure business actions are aligned with objectives of financial, customer, internal processes and growth perspectives It is also important to identify and measure business, legal, competition, information and internal risks so that all levels of business strategies can respond promptly to environmental changes References Ai Vuong 2016, ‘Can Vietnam’s Tourism Industry Save the Environment?’, thediplomat, 24 June, viewed 11 May 2021, Akan, O, Allen, R, Helms, M & Spralls, S 2006, ‘Critical tactics for implementing Porter's generic strategies’, Journal of Business Strategy, vol 27, pp 43-53 Bigliardi, B & Bottani, E 2010, ‘Performance measurement in the food supply chain: a balanced scorecard approach’, Department of Industrial Engineering, vol 28, no 5, pp 249 – 260 CAPA 2015, ‘Vietnam Airlines clarifies its dual brand strategy and accelerates Jetstar Pacific's expansion’, CAPA, November, viewed 11 May 2021, Carman, J-M & Langeard, E 1980, ‘Growth Strategies for Service Firms’, Strategic management journal, vol 1, no 1, pp 7–22 Deloitte 2020, ‘The Vietnam Consumer Survey Staying resilient amidst headwinds’, Deloitte Southeast Asia, viewed 10th April 2021, Flight Global 2021, Vietnam Airlines outlines measures to bolster financial position, Flight Global, viewed 11 May 2021, Galavan, J-R 2015, 'Understanding Resources, Competences, and Capabilities in EU Common Security and Defence Policy', August, no 653371, pp 1-17 School of Business and Management 21 Giang, T 2020, ‘Vietnam Airlines faces more than half a billion dollars in losses’, Vietnam News, 11 August 2020, viewed 11 May 2021, < https://vietnamnews.vn/economy/770877/vietnam-airlines-facesmore-than-half-a-billion-dollars-in-losses.html> Grigoroudis, E, Orfanoudaki, E & Zopounidis, C 2012, ‘Strategic performance measurement in a healthcare organisation: A multiple criteria approach based on balanced scorecard’, Omega, vol 40, pp 104 – 119 Hussain, S, Khan, J, Rizwan, A & Latif, A 2013, ‘ANSOFF matrix, environment, and growth-an interactive triangle’, Management and Administrative Sciences Review, vol 2, pp 196-206 Huy Thang 2021, ‘Chính sách hỗ trợ cần điều chỉnh phù hợp “trạng thái bình thường mới” ‘, Government News, viewed 10th April 2021, Janićijević, N 2017, ‘Organizational models as configurations of structure, culture, leadership, control, and change strategy’, Economic annals, vol 62, no 213, pp.67-91 Mai, N-K & Le, T-U 2014, 'The Factors Affecting Vietnam Airlines Service Quality and Passenger Satisfaction – A Mediation Analysis of Service Quality ', International Journal of Innovation, Management and Technology, vol 5, no 5, pp 327-333 Marketing 2015, ‘Vietnam Airlines launches global campaign’, marketing interactive, October, viewed 11 May 2021, MBA Skool Team 2020, 'Resources and Capabilities', MBA Skool , viewed 18 May 2021, Minh Tuan 2020, ‘Hàng không - 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