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INTRODUCTION (1) What is the role of balanced scorecard in assessing performance in Vietnamese garment enterprises? Reason for selecting the topic (2) How you use the Balanced Scorecard to evaluate performance in Vietnamese garment enterprises? Improving performance is always a strategic issue for any business operating in the market economy, as it is an important basis for the survival and development of the business Improving performance enables enterprises to perform well the reproduction process and generate revenue to contribute to the state budget (3) What is the difference between using the Balanced Scorecard to evaluate performance in large and medium-sized garment enterprises? And there are differences between garment enterprises in different regions? In order to achieve high performance, garment enterprises should evaluate their performance and find out the reasons for their effectiveness in order to have reasonable solutions by analyzing the performance In models of appreciation of performance, the Balanced Scorecard (BSC) model is widely appreciated by many researchers as well as by many businesses (4) How you use the Balanced scorecard to assess performance in line with Vietnamese garment companies? Scope and subjects of research * Research scope As the economy is opening up, garment enterprises have many opportunities but also many challenges In order to enhance the competitiveness of the market, garment enterprises must not only formulate financial strategies but also include non-financial strategies - In terms of space: the thesis focuses on researching Vietnamese garment enterprises To ensure representativeness, the author selects samples using the sampling method Currently, there are 4,200 garment enterprises (source: Virac) in the whole country, including large scale enterprises and small and medium sized enterprises from the North to the South For this reason, I chose the subject: "Applying the Balanced Scorecard to evaluate performance in Vietnamese enterprises" as his PhD thesis 2015) Objectives of the study * Research subjects With the research topic "Applying the Balance Scorecard to evaluate the performance in Vietnamese garment enterprises", the author identified the research objectives: - General objective: Applying the Balanced Scorecard to assess performance in line with Vietnamese garment enterprises - In terms of time: survey and data collection over the last years (from 2013 to - The status of using Balanced Scorecard in Vietnamese garment enterprises - Mission, strategic vision of Vietnamese garment enterprises - Performance indicators system at Vietnamese garment enterprises Methodology of the thesis - Detail objective: For the study, the author used both quantitative and qualitative research methods + Clarify the role of the Balanced Scorecard in assessing the performance of the business - Qualitative research methods + Evaluate the status of using the balanced scorecard to evaluate the performance of the garment enterprises in Vietnam - Quantitative research methods + Applying the Balanced scorecard to evaluate the performance suitable for Vietnamese garment enterprises According to previous studies, Hoque& Wendy (2000) or Ping, (2006) have confirmed that the size of the business will affect BSC Therefore, in their own study, the researcher applying BSC in large-scale garment enterprises and small and medium-sized garment enterprises Research questions Contribution of the thesis In order to achieve its research objectives, the author raises the following research questions: New contributions in academics, reasoning The dissertation clarifies the theoretical basis for the application of the Balanced Scorecard (BSC) to assess performance in enterprises Specifically: Monitoring and evaluating the application of BSC in the evaluation of the performance; (7) Attention should be paid to the maintenance of BSC in enterprises The dissertation clarifies the rationale for performance as expressed by the value created by the business from what the firm has invested This value includes both financial value and non-financial value Therefore, to evaluate the performance of enterprises, it is necessary to use financial and non-financial indicators The State should have policies to support and encourage Vietnamese enterprises in general and Vietnamese garment enterprises in particular to apply BSC in the assessment of performance The thesis clarifies the role of the Balanced Scorecard in evaluating the performance of the business with the indicator system associated with the development strategy of the enterprise Structural thesis The author presents the thesis in five chapters: Chapter 1: Overview of research The results of the thesis also show that the size of the enterprise will lead to the application of the Balanced scorecard to evaluate the performance is different Chapter 2: Theoretical Basis of Using the Balanced Scorecard to Evaluate Performance in Manufacturing Firms In practical terms, the thesis proposes Balanced Scorecard to evaluate performance in Vietnamese garment enterprises by scales: large enterprises, medium and small enterprises Chapter 3: Research Methods For Vietnamese garment enterprises, BSC has applied four perspective: Finance, Customer, Business Process, Learning and Growth In the Balanced scorecard uses the evaluation of performance for Vietnamese enterprises The author has verified more modern financial indicators: EVA, MVA, selected On the other hand, the characteristics of Vietnam's garment industry are dependent on many suppliers, so the Supplier factor is through the criteria: "Supplier's proportion request response", "Supplier's time ratio delivery of goods on time, "" Percentage of suppliers who are regular suppliers to enterprises "is selected by managers in the Balanced Scorecard to evaluate the performance This is also a new point in the author's research New proposals drawn from research results Based on the research results of the thesis, the author has made suggestions to improve the efficiency of using the Balanced Scorecard to evaluate the performance of Vietnamese enterprises Specifically: Chapter 4: Results of research using the Balanced scorecard to evaluate performance in Vietnamese garment enterprises Chapter 5: Discussion and recommendations on the use of the Balanced Scorecard to evaluate performance in Vietnamese garment enterprises Chapter OVERVIEW OF RESEARCH 1.1 Studies on the use of Balanced Scorecards - BSC for performance evaluation In the early 1990's, Kaplan & Norton introduced Balanced Scorecard - BSC as an integrated device that facilitates the formal use of non-financial information in evaluating the effectiveness of business units ( Kaplan, R and Norton, D 1992) The thesis proposes Balanced Scorecards for large-scale garment enterprises and medium- and small-sized garment enterprises that derive from their development strategies Kaplan & Norton's book "The Balanced Scorecard: Translating Strategy into Action" published by the Harvard University Press in 1996 The authors propose the development of a Balanced Scorecard rating system that includes Financial and nonfinancial indicators are linked in a causal relation to the strategic implications of specific performance goals in terms of: Finance, Customer, Business Process, Learning and Growth The dissertation proposes solutions for Vietnamese garment enterprises so that they can apply the Balanced Scorecard to evaluate their performance (1) The garment enterprises should develop a development strategy in line with the development strategy the industry and the mission of the business(2) Business organizations need to be built and improved; (3) improve the ability of enterprises to respond to changes in the market; (4) Focus on improving the factors that influence the successful application of the BSC; (5) It is necessary to widely disseminate knowledge about BSC in enterprises; (6) In the article "Transforming the Balanced Scorecard from Performance Measurement to Strategic Management" published in Accounting Horizons, No 15, 2001, and "The Balanced Scorecard, Measures that Drive Performance," in the Harvard Business Review, In 1992, by Kaplan & Norton, the authors proposed using a performance rating system that includes financial and non-financial indicators that strongly influence the successful implementation of a business strategy are linked together in a causal relationship BSC The book “The development of the Balanced Scorecard as a strategic management tool” by Cobbold & Lawrie, 2002, describes the development process of the BSC The article "Measurement of corporate performance through a balanced scorecard: an overview" by Ghosh and Mukherjee University lecturer Vidyasagar published in the journal Vidyasagar University Journal of Commerce No 11 (2006), analyzes the advantages of using the Balanced Scorecard to evaluate business performance Apply BSC in nonprofit organizations For nonprofit organizations, there are many researches that using BSC as: (1) Research using BSC in US and Canadian government by Lilian Chan,(2004) at Mc Master University, Hamilton, Canada published in The International Journal of Public Sector Management; (2) Research using BSC in Italian and Australian governments by Farneti (2008), University of Bologna, Guthrie of the University of Sydney, Australia, published in the Journal of Human Resource Costing & Accounting; (3) A comprehensive study of the using BSC in Greiling from the Institute of Management Accounting and Kepler of the University of Linz, Austria These studies show that BSC is ineffective in non-profit social service organizations as the characteristics of strategic, causal linkages, and four perspectives not match the special environment of the groups social services This statement was confirmed in the latest study by Kong, University of Queensland, Australia (2010), after analyzing the authors' research related to the use of BSC in nurseries non-profit social services Apply BSC in profit organizations (business enterprises) In Hoed & Wendy, (2000), the authors investigated the effect of scale on the application of BSC in the evaluation of the performance We conducted a survey of 66 manufacturing companies in Australia The size of the organization is measured by the team through three measures: Total sales, Total assets, Number of employees Quantitative research results show that the larger the scale, the greater the degree of BSC adoption Another study on the ability of BSC to implement strategy and business management in Hong Kong companies “Perception and Applicability of the Balanced Scorecard in Hong Kong Organizations” by Ping (2006) The author conducted a survey of 50 companies on the Hong Kong Stock Exchange in various business areas The objective of the study was to analyze the differences between companies using BSC and BSC unused companies Apply BSC in large scale production and business enterprises New Zealand also has many researches on the ability of BSC application in enterprises Typically, the study by Blundell & etc “The Adoption and Use of the Balanced Scorecard in New Zealand: A Survey of the Top Companies”, 2003, Pacific Accounting Review The authors conducted a survey of 40 leading companies on the New Zealand stock market The results show that these companies commonly use BSC with four perspectives of the model However, the "Financial perspective” is still used the most In 2005, Evan of Teeside Business School, University of Teedide, Middlesbrough, UK conducted a study on the ability to use BSC as a management tool in the hotel sector in the UK Authors used questionnaires for interviews The hotel is a medium-sized, high-end, 3-star hotel in North East England, with 30 to 200 rooms The results of the study on the use of BSC in hotels with 30 to 200 rooms in the UK show that most hotels are very interested in measuring daily or weekly sales, and compare actual costs with planned costs by week or by month In 2008, Jusoh conducted a study on the application of BSC and their effectiveness in evaluating the performance of Malaysian firms Research results show that less than 30% of companies surveyed used part or all of the BSC Many Malaysian manufacturing companies still focus more on financial indicators than non-financial indicators Balanced Scorecard is also highly regarded as a role in strategic management in leading companies in India This was confirmed by the authors in the "Balanced Scorecard in Indian Companies" study, Anand et al., 2005 The authors conducted a survey of 579 leading companies India in various business sectors According to survey results, the authors divide the business group into two groups: manufacturing and service business The results show that companies use the full perspectives of the BSC Another study on the use BSC in the evaluation of performance was piloted at a multi-national company in Bangladesh by Halabi et al., "Perceptions of Firms Learning and Growth under Knowledge Management approach with Linkage to Balanced Scorecard (BSC): Evidence from a Multinational Correlation of Bangladesh ", International Journal of Business and Management, Issue 9, 2009 The authors conducted a survey with semi structured questionnaire about BSC application in the multinational company in Bangladesh The results show that the Learning and Growth Perspectve is more focused Another study in large-scale enterprises in Bangladesh, “Empirical Study of the underlying Theoretical Hypotheses in the Banlanced Scorecard model: further evidence from Bangladesh”, Halabi, et al., Asia Pacific Management Accounting Journal, 2010 The study authors use BSC in leading manufacturing and service enterprises based in Bangladesh This study was conducted by collecting primary and secondary information The structured questionnaire was sent to the top 150 companies in Bangladesh The results show that the correlation between the perspectives of BSC Applying BSC in medium and small scale manufacturing enterprises A study on the application BSC in small and medium enterprises, Conducted a study entitled “Lingking Balanced Scorecard Measures to SME’s Business Strategy: Addressing the Moderating Role of Financial Resources”, International Joural of Research, 2015 The authors have confirmed the role of BSC in strategic management for small and medium enterprises Another study on the use of BSC in small and medium enterprises was studied in the UK and Cyprus, “The use of the Balanced Scorecard in Small Companies”, Giannopoulos, et al., Inernational Journal of Business and Management, 2013 Authors conducted a survey of 500 small and medium enterprises in the UK and Cyprus Questionnaires are mostly closed questions that are addressed to managers of these businesses The questions revolve around the use of BSC in these operations The results show that small- and medium-sized enterprises are highly appreciative of the role of BSC in the review of Korean equities despite the fact that BSC has only been used in recent years In 2013, there will also be a study on the application BSC in small and medium enterprises “Application of Strategic Performance Measures in Small and Medium – Sized Manufacturing Enterprises in Kenya: The use of the Balanced Scorecard perspectives”, Chimwani, et al., International Journal of Management Sciences and Business Research, 2013 This study aims to determine the application BSC in the assessment of performance in small and medium enterprises in Kenya Applying the Balanced Scorecard to garment enterprises "A Study of Business Performance through Key Performance Indicators (KPIs) in Thai Garment Industry," Suanmali, et al., 2009, The 5th International Congress on Logistics and SCM Sysems In this article the authors discuss the establishment of Key Performance Indicators (KPIs) for the measurement of corporate social responsibility in Thai garment companies., “Proposal of a performance model based on The balanced scorecard for the Moroccan textile industry”, Chriyha, et al., 2012 In this study, the authors conducted a discussion to find out the indicators in perspectives of the BSC for the textile industry in Morocco “Managing Through Strategic Performance Management in Apparel Companies” by Karabay & Kurumer, 2012, Fibers & Textiles in Eastern Europe 2012, proposed the BSC based on the strategy of the Turkish textile industry However, the authors also suggest that the proposed balanced scorecard does not apply to all companies The purpose of this study is to provide a starting point for the establishment of an effective management system that will help companies to implement the strategy in a new competitive environment “Key Success Factors for Organizational Innovation in the Fashion Industry ", Felice & Petrillo, 6/2013, International Journal of Engineering Business Management Results of the study, the authors have introduced the system of evaluation performance for the fashion industry in Italy "A Consolidated Model of Putting BSC into Action in Textile Industry in Pakistan", Maqbool (2015) In this study, the author proposed that performance evaluation model with six views instead of the four typical views of Kaplan and Norton: Financial - Customer - Supply Chain and Market - Sustainability – Learning & Growth 1.2 National studies on the use of the Balanced Scorecard to evaluate performance "Using Balanced Scorecard in Vietnamese Service Enterprises", Dang Thi Huong (2010), Hanoi National University Journal of Science, Economics and Business Administration 26 In the study, author presented the advantages and disadvantages of BSC development in Vietnamese service enterprises "Application the Balanced Scorecard and KPI performance measurement in employee assessment" by Bui ThiThanh (2011), Journal of Business Development 172 The author conducted a survey on 107 samples Officers and employees on the conditions to apply the company's BSC and KPI to employee evaluation at Liksin Based on the results of the study, the authors proposed a process of applying in steps (1) building BSC of the corporation, (2) implementing BSC at all levels, (3) implementing job description, ) setting evaluation criteria, (5) organizing evaluation and (6) reporting evaluation and record keeping "Issues in the Balanced Scorecard Implementation: A Case of Vietnam", Mai XuanThuy, Economic Development Journal 14, April / 2012, English version This research focuses on the implementation of BSC in an international accounting firm in Vietnam The author has used Kasurinen (2002) and qualitative research methods to analyze and identify barriers in the implementation of BSC "Factors affecting the acceptability of the model of balanced scorecard in strategic management in Vietnamese enterprises", Tran Quoc Viet, (2013) PhD thesis of National Economics University In his thesis, the author has contributed both theoretical and practical The research results will help Vietnamese enterprises, as well as consultants, make more accurate decisions on the acceptance of BSC by each Vietnamese company In addition, identifying the factors that influence the acceptability of the BSC will help managers have effective solutions to promote the use of the Balanced Scorecard in strategic management at the Vietnamese enterprises In 2013, Nguyen Thi Thanh Hai with his dissertation "Finalizing the indicator system for business analysis in transportation enterprises under the Ministry of Transport", the author has completed the system of only assessment criteria In her study, the author used the BSC to improve the criteria for business performance assessment in transportation companies under the Ministry of Transport Starting from the review, the authors found that the application of BSC in the evaluation of the performance is very important and that the application of BSC in enterprises of different sizes will be different However, in studies on the use of BSC in garment enterprises in the world, there are no studies that are separate from the enterprise scale And in particular, there are no studies in Vietnam on the use of BSC in assessing performance in general garment enterprises That is why the author chose the subject "Applying the Balanced Scorecard to evaluate the performance of Vietnamese businesses" as his PhD thesis SUMMARY OF CHAPTER With Chapter 1- Overview of research, the author gave an overview of previous researches on the application of BSC to evaluate the effectiveness of operations in the world and in the country With studies in the world, the size of the business will influence the application of BSC in assessing the performance of enterprises So, the author conducts an overview of researches using BSC in large enterprises and small and medium enterprises In addition, the study also reviewed the studies on the use of the Balanced Scorecard to evaluate the performance from which to find the space for its study From the results of the study, the author has selected as his research topic "Applying the Balanced Scorecard to evaluate performance in Vietnamese garment enterprises" Chapter THEORETICAL BENEFITS OF THE BENEFITS OF THE BALANCED SCORECARD TO EVALUATE PERFORMANCE IN MANUFACTURING ENTERPRISES 2.1 Introduction Balanced Scorecard 2.1.1 Concept In the early 1990s, Kaplan and Norton introduced the Balanced Scorecard as an integrated device that facilitated the formal use of non-financial information in evaluating the effectiveness of business units (Kaplan and Norton 1992) BSC is a management tool that helps businesses set up, implement, monitor, and achieve their strategies and goals through interpreting and developing strategic goals into goals The program of action is based on four aspects: finance, customers, business processes, learning & growth 2.1.2 The development of the Balanced Scorecard The first generation of BSC: BSC was first introduced by Kaplan and Norton (1992) as a set of measures that provided top managers with fast, comprehensive views of businesses with four perspectives edge of the balanced scorecard However, the causal relationship between dimensions was not thoroughly investigated at this stage The Second BSC Generation: BSC developed from a measurement system into a core management system This version of the BSC has incorporated causal links and results The Third BSC Generation: The main components of the BSC in this development phase are the target statements (DS), strategic objectives, strategic alignment, measures and initiatives ( Cobbold and Lawrie, 2002) 2.1.3 Function of the equilibrium card - A balanced scorecard is used as a measurement system - The balanced scorecard is used as a strategic management system - A balanced scorecard is used as a communication tool 2.2 Outline the performance 2.2.1 Concept of performance Long-term value of shareholders Productivity strategy Growth strategy Fanancial Improve cost structure Increase the efficiency of asset Add value to customers Increased sales opportunities Value gives the customer Customer Quality Price Internal Process Operational management processes Supply Manufacturing Distribution Risk management Funct ion Choice Ava ilabl e The process of customer management Process improvements Make a choice Winning the customer Keep the customer Develop customer Learning & Growth Servi ce Exploit opportunitis R & D list Design/ Development Risk management Memb er Processes related to social regulation Environment Health / Safety Job Community Capital of information Organizational capital Leader Unification According to the author, performance in today's era, as the economy grows, the social relationship is more and more complex, then the performance is the value created including the financial value and non- financial value Therefore, to assess accurately and comprehensively, the enterprise requires a system of finance and non- financial criteria Through the evaluation of performance, it is possible to evaluate the growth and development of enterprises in the market economy with many changes 2.2.2 Performance evaluation An evaluation of the franchisor is a comparison between the result obtained and the cost spent to obtain that result Useful results can be understood including economic efficiency and social efficiency Evaluation of performance is also understood as the measurement of enterprise's performance by means of the indicator system The study by Hult et al (2008) has examined how to measure marital problems, the authors argue that there are three criteria for measuring marital conflict: measuring financial performance, measuring business performance, measuring performance synthetic Human capital Culture Trademark An economic category is an economic measure that measures the viability and sustainability of an enterprise through the value it generates The added value of the business is the added value of shareholder investments or the added value of the resources that the business spends Value can be a combination of both the financial goal and the non-financial objective With the goal of finance, the value created is the value of shareholders For non-financial goals, the value includes benefits for working conditions, working time, social interaction Teamwork In order to assess the effectiveness of the operation, the enterprises need a suitable indicator system, which is closely linked with the target and strategy of the enterprise However, according to the author, the most difficult problem is choosing the model of evaluation of performace in accordance with the system of indicators reflecting the comprehensive performace of enterprises and at the same time, it must be attached with the development strategy of the enterprise 2.2.3 Principles for the establishment of a performance indicator system Some principles to keep in mind when building the indicator system for measuring performace: - The measurement criteria of the international standard must be in line with the development strategy of the enterprise SUMMARY OF CHAPTER - The criteria of measurement of performace must be linked with the vision, values and key success factors of enterprises - The norms of measurement of performace must reflect the past, present and future associated with the operation of enterprises - The norms of measurement of performace should reflect the needs of customers, shareholders and employees - The norms of measurement of performace must be consistent and coherent between the higher level and the lower level of the enterprise - The norms of measurement of the country need to change when the business strategy of the enterprise changes - The norms of measurement of the performace should be reliable - The norms of measuring performace should reflect the specific objectives of the enterprise - The measurement system of the international standard must include the financial criteria and non- financial criteria In this chapter, the author presents three contents: (1) Introduction to Balanced Scorecard with four perspective: Finance, Customer, Internal Process, Learning & Growth And these perspectives have a causal relationship Indicators in the BSC come from the corporate development strategy (2) Overview of performance In our study, the authors of the performace research are from the perspective that the value created includes the financial value and the nonfinancial value (3) Applying the Balanced Scorecard to assess corporate performance in general In this chapter, the author presents the four perspectives of the BSC introduced by Kaplan & Norton in his 1996 book "The balanced scorecard: Translating strategy into action." This will be a hint to help managers applying BSC in assessing the performance of your business With the content of chapter 2, the author wants to generalize the rationale for his research topic Chapter 2.3 Apply a balanced scorecard to assess the performance of your business RESEARCH METHODS 2.3.1 Financial perspective Most of the companies focus on revenue growth, productivity and shareholder value 3.1 Approaches to research problems Some organizations ignore the accounting system and focus on stock prices Market share price quotes are also often found on BSC model: 2.3.2 Customer perspective The objective of the company's customers is to ensure the best service, leading the quality of products and friendly with customers 2.3.3 Internal process perspective Indicators in the aspect of internal procedures show the ability to manage production and business activities; the ability to manage employees, capture customers and ensure environmental and social factors 2.3.4 Learning & Growth perspective Measures for training and development are divided into three categories: human resource training, information systems, organizational resources The approach to addressing the research objectives of the topic is summarized in Figure 3.1: Model approaching the study Applying the BSC assessment to performance in Vietnamese garment companies The research was carried out through the following steps: Step 1: The author goes to study the overview of previous researches on the application of BSC in the evaluation of performance Step 2: Research on the status of applying BSC in Vietnamese garment enterprises Step 3: Develop research hypothesis Introduce the initial indicator system in the balanced scorecard Overview of research Step 4: Conduct in-depth interviews Step 5: Build questionnaire Step 6: Conduct the survey Determining research gaps and research objectives Step 7: Synthesize data and analyze data Step 8: Apply BSC to build a system of rating criteria suitable for Vietnamese enterprises Understand the status of using BSC to evaluate the performance in Vietnam garment enterprises Connect with the vision, mission and strategic goals of Vietnamese garment enterprises 3.2 Qualitative research methodology and quantitative research methods 3.2.1 Qualitative research methods With the qualitative research method, the author conducted semi-structured and unstructured interviews, and then conducted a pilot study • Interview questionnaire In the In-Depth Questionnaire, the author uses semi-structured and unstructured questions Applying the Balanced Scorecard to develop a system of indicators to assess performance in Vietnamese garment enterprises • Experimental research Experimental research in large garment enterprises and small and medium garment enterprises were selected non-randomly to ensure the convenience of the study Major Garment companies are: DucGiang Corporation and Garment Corporation 10 Small and medium-sized garment enterprises: Nam Ha Garment Joint Stock Company and Nam Dinh Garment Joint Stock Company 3.2.2 Quantitative research methods • Sampling method The formula n = * m Where: n: Number of samples to choose m: number of observations Thus, with the 47 observed variables of the four expected factors, the minimum sample size was: n = * 47 = 235 samples In the study, the author examined data in 250 firms On the other hand, the sample size is determined by the general formula: Nt2 x pq n= N ε + t2 x pq • The method of data collection Questions in the questionnaire included open and closed questions Closed questionnaires were used to collect information on the 'usage level' and 'importance' of the criteria for rating companies in Vietnam Level questions were measured using Likert scale - levels In particular, level is the lowest level and level is the highest level The questionnaire was divided into three parts: Part I: Understanding the status of applying BSC in the enterprise's Margin Assessment through questions on the use of indicators; Part II: Finding information on the ability to use indicators in BSC to evaluate performance; Part III: General information about enterprises n: sample size • Data analysis methods N: sample total The author uses SPSS 19 software in data processing Data analysis is done through the following steps: In the thesis the author selects the sample with the following requirements: - The reliability requirement is 95.0% (confidence factor t = 95%) In the table, the value of the confidence factor t is calculated in terms of the coefficient t, of the luminescence, t = 1.96 ) - The sampling error range does not exceed 5% (ε = 0.05) With the assumption that the proportion of large enterprises is 50% and that of small and medium enterprises is 50% Since p + q = 1, then p.q will be greatest when p = q = 0.5 =>p.q = 0.25 => instead of the above formula to determine sample size (n) In order to ensure sufficient sample size for the factor analysis, the author will issue 500 votes, each of which will be distributed to managers • Method for determining sample distribution Khối Business type Group of Companies DN Số phiếu Large enterprise 125 230 125 232 Small and enterprises 250 462 Northern region 80 153 Central Vietnam 65 104 Southern 105 205 250 462 Total Regions Total medium Step 1: Statistical description of the sample and the observation variable Step 2: The author assesses the reliability of the scale Step 3: Analyze the EFA Discovery Factor Step 4: In-depth analysis by ANOVA to see if there is a difference between enterprises in different regions Step 5: Apply BSC to set up a rating system for Vietnamese garment enterprises SUMMARY OF CHAPTER In Chapter 3, the author introduces the research methodology used in his research With the research topic, the author uses both quantitative and qualitative research methods With qualitative research, the author conducted in-depth interviews, experimental research With quantitative research, the author wants to test the reliability of the observation variable, thereby performing exploratory factor analysis to examine the convergence of the observed variables while performing the ANOVA test to examine regional differences in the indicator system in the BSC evaluate the performance of enterprises Chapter RESEARCH RESULTS 4.1 Overview of Vietnamese garment enterprises 4.1.1 Characteristics of Vietnam garment industry At present, the country has 4,200 garment enterprises, attracting more than 2.5 million people, accounting for about 25% of the labor force of Vietnam's industrial sector According to VIRAC data, every $ billion of garment and textile exports can create jobs for 150 - 200 thousand laborers, including 100 thousand workers in garment enterprises and 50-100 thousand workers in supporting enterprises other assistance The majority of private sector enterprises (84%); concentrated in the South East (60%) and Red River Delta Garment enterprises account for about 70% of total enterprises in the industry 4.1.2 Management characteristics of Vietnamese garment enterprises According to the sample survey, the authors found that the organizational structure of garment enterprises was divided into two categories: online organization, online organization - function - To concentrate and expand the domestic consumption market - Improve and improve services, product quality - On time delivery - Find more customers - Attract and use rational human resources 4.2 Results of qualitative research 4.2.1 Results of in-depth interviews 4.1.3 Development strategy of Vietnamese garment enterprises After the in-depth interview, the author found that most Vietnamese garment enterprises not currently have a suitable rating system At present, Vietnamese garment companies are of the opinion that the construction of a comprehensive evaluation system is urgent - Build the garment industry into one of the key industries, and build some famous brands On the other hand, from the in-depth interview, the authors find that the current appropriate indicator system needs to have current values: EVA, MVA, CFROI - Strengthen export garment industry to take advantage of market opportunities In addition, the authors also added indicators: proportion of suppliers meet the requirements; Timely delivery time for suppliers; Percentage provider is a regular supplier to the business The author added the indicators also derived from the results of the interview - Ensure the garment industry develops sustainably, cutting costs and efficiency on the basis of modern technology, quality management systems, labor management and environmental management according to international standards Large-scale garment enterprises: - Increase market share - Enhancing shareholder value - Expanding export markets to Asia, US, UK - Provide the perfect sewing products in both quality and design - Towards automation, diversification in the product - Bring customers confidence and satisfaction from them to attract new customers and retain traditional customers - Expand the relationship with partners and customers to enhance the brand - The work environment is safe, comfortable, secure jobs and life for workers - Improve production capacity Small and medium size garment enterprises: - Increase profits - Expanding the size of enterprises 4.2.2 Results of the trial Based on the results of the pilot study, the authors find that Vietnamese garment enterprises are in need of a comprehensive indicator system for the evaluation of marginal incomes including financial and non financial criteria When putting the indicators in four perspectives of BSC research trials in four enterprises, the authors found that managers are now very interested in the criteria for assessing the level of satisfaction of customers and employees and the level of human resource training as well as investment, equipment renewal 4.2.3 Results of quantitative research Statistics describe the observed variables The author distributed 500 questionnaires to 250 businesses, resulting in 462 satisfactory results Assess the reliability of the scale Large-scale garment enterprises + Credit rating scale Fanance perspective: After Cronbach's Alpha tests, the result of retaining 14 targets (observation variable) was satisfactory with the coefficient Cronbach's Alpha = 0.921 requirements and correlation coefficients for the sum of observed variables> 0.5 + Customer perspective: With the Cronbach's Alpha test results, the observed variables were required with an Alpha coefficient of 0.910 and the coefficient of correlation for the sum of the Variable observations are> 0.5, the number of retained variables is + Assessment of the reliability of the scale in the internal process perspective: Then the second test, the required result with the correlation coefficient of all observed variables is> 0.5 and Alpha coefficient = 0.902 with retained variable of variables + Learning & Growth perspective: With the second test results, the remaining observations were satisfactory because the coefficient of correlation was> 0.5 and Alpha coefficient 0.835 and the remaining observed variables were satisfactory Small and medium-sized garment enterprises + Credit rating scale Fanance perspective:: the results obtained variables have the coefficient of correlation is equal to> 0.3 and Alpha coefficient = 0.802 remaining variables observed + Customer perspective: The second test result for the Alpha coefficient = 0.825 with the coefficients with the coefficient of correlation of> 0.5 with the remaining two variables + Internal Process" perspective: With the second result, the observed variables are retained satisfactorily with the total variance coefficient of 0.5 and the Alpha coefficient = 0.810 with variables + Learning & Growth perspective: The results of the second test of the observation variables have a total variable coefficient of> 0.3 and an Alpha coefficient of 0.811 with variables Observation is retained Results of the EFA discovery factor analysis • For large-scale garment enterprises The second factor analysis showed that the observed variables converged into groups with the KMO = 0.825 satisfactory with 30 variables From the analysis of variance, the author will test ANOVA to compare the differences in the indicator system among garment enterprises in the three regions: North, Central and South ANOVA test results of large, medium and small sized garment enterprises in the North, Central and South regions exhibit significant levels of significance> 0.05 The results show that enterprises in different regions did not differ statistically in the four perspectives of the scorecard SUMMARY OF CHAPTER In this chapter, the author presents some key points of Vietnam's apparel industry and the qualitative and quantitative research results From the qualitative research, the authors propose three more financial indicators: EVA, MVA, CFROI in terms of "Finance" and indicators: Proportion of suppliers meeting requirements, Proportion Time Supplier Supplier Timely, Supplier Percentage is a regular provider for businesses in the "Internal Process" perspective Results of quantitative research: Statistics describing 47 observational variables, results of scale reliability, EFA test Results of the EFA factor analysis, ANOVA test results retain 30 observation variables for large scale garment enterprises, and 18 observations for small and medium sized garment enterprises on dimensions edge of the balanced scorecard model At the same time, the ANOVA test results show that there is no difference in the rating system between enterprises in different regions Chapter DISCUSSION AND RECOMMENDATIONS TO IMPLEMENT THE BALANCE SHEET TO EVALUATE EFFECTIVENESS IN VIETNAMESE GARMENT ENTERPRISES 5.1 Discuss 5.1.1 Discuss the status of using the Balanced Scorecard to evaluate performance at Vietnamese garment enterprises Large garment enterprises Analysis results obtained the remaining variables converged into groups with coefficient KMO = 0.777 satisfactory with 18 variables observed Current situation The use of the Balanced Scorecard to assess the performance of large-scale garment enterprises is currently inadequate and managers are eager to use the Balanced Scorecard to assess the appropriate balance of payments With the development strategy of the enterprise, it helps enterprises to evaluate in a fuller and more accurate manner the enterprise's equitisation ANOVA test results Small and medium-sized garment enterprises After Levene's test, the coefficient Sig.> 0.05 for both large and medium-sized garment enterprises is acceptable Therefore, the variance between the groups is equal statistical significance Based on the results of in-depth interviews, the results of the trial, the authors found that small and medium-sized garment enterprises did not have access to the Balanced Scorecard Despite the fact that the assessment of the performance in addition • For small businesses to the financial indicators uses non-financial indicators However, indicators are mainly financial indicators The evaluation of medium and small enterprises' mar- ket has not been based on the strategy of enterprise development - The State should have specific guidelines, policies and action programs to popularize and train BSC knowledge for Vietnamese enterprises in general and Vietnamese garment enterprises in particular 5.1.2 Discussion on the use of the Balanced Scorecard to evaluate performance in Vietnamese garment enterprises - The State should have policies to support and encourage Vietnamese enterprises in general and Vietnamese garment enterprises in particular to apply BSC in the assessment of performance Large-scale garment enterprises With BSC for large enterprises, the two indicators "EVA" and "MVA" are appreciated by managers With the EFA test results, the three indicators are: "Percentage of suppliers meeting the requirements", "Percentage of suppliers delivering on time", "Percentage of suppliers being regular suppliers for the enterprise "also focus on the perspective of internal process These are indicators that, according to the author, are not mentioned in the evaluation of performance in garment enterprises in the world as well as Vietnamese garment enterprises Small scale garment enterprises For medium and small sized garment enterprises, the financial standards proposed by the authors in terms of finance: EVA, MVA, CFROI are not yet of interest to managers As such, the indicators in the financial perspective for small-scale apparel enterprises only include the traditional financial criteria taken from the accounting books Indicators belonging to suppliers in the perspective of internal processes are also selected by the managers 5.2 Recommendations on solutions to improve the use of Balanced Scorecard to evaluate performance of Vietnamese garment enterprises 5.2.1 For garment enterprises - Firstly, Vietnamese garment enterprises need to develop strategies for business development - Secondly, it is necessary to build and improve the organization - The third, Will the ability to cope with the rapid change of markets accelerate acceptance of the measures in the Balanced Scorecard as proposed? - The fourth, focus on improving the factors that affect the successful application of BSC - The fifth, It is necessary to popularize knowledge about BSC in enterprises -The sixth, monitoring, evaluating the use of BSC in the evaluation of the Performance - The Seventh, enterprises need to focus on maintaining BSC in their businesses 5.2.2 For the State SUMMARY OF CHAPTER In this chapter, the author discusses the results of the study: (1) Discussion on the status of using the equilibrium scorecard to assess the profitability of Vietnamese enterprises so that they can use the balanced scorecard to complete the system of evaluation criteria of performance (2) Discuss the use of balanced scorecard to evaluate marginal returns in Vietnamese garment enterprises more effectively Based on the results of the study, boldly recommend solutions to enterprises as well as to the State to apply the Balanced Scorecard to assess the Company's performance in Vietnamese garment enterprises CONCLUDE The Balanced Scorecard, introduced by Kaplan & Norton in 1992, provides managers with a holistic, visionary, strategic vision into a set of indicators in four perspective: Finance, Customer, Internal Process, Learning & Growth Many of the world's companies operate in different areas, using the Balanced Scorecard to evaluate the country Vietnamese companies in general and Vietnamese garment enterprises in particular need a comprehensive system of evaluation Research using a balanced scorecard to assess corporate mar- kets in enterprises is a real need of many businesses Based on the research gap, the author has conducted a study on the use of balanced scorecard for assessing marital status in Vietnamese garment enterprises By combining quantitative and qualitative research, based on the survey of 250 small and large garment enterprises with 500 questionnaires distributed to study the status Vietnamese garment enterprises The survey subjects are managers With the results of 462 valid votes collected, the analysis of the data by SPSS 19 software, the author has drawn new points In this balanced scorecard, the author has added modern financial indicators: EVA, MVA are appreciated by managers of large garment enterprises On the other hand, in terms of internal processes, the author also adds the following criteria: Supplier-to-Supplier ratio, Supplier-to-Supplier Timeliness, Supplier Percentage Regularly supplied to the enterprise These indicators are highly appreciated by managers of Vietnamese garment enterprises and in line with the production characteristics of May Vietnam With the contribution of the research will help the garment enterprises have a comprehensive indicator system to evaluate the corporate fit with their business However, the study also has certain limitations Next research direction: The following studies may examine the factors that affect the use of the balanced scorecard for evaluating marginal returns in Vietnamese garment enterprises In-depth testing of geographic factors affects the use of balanced scorecards