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INTERNATIONAL EXECUTIVE MASTER OF BUSINESS ADMINISTRATION PROGRAM BUSINESS DEVELOPMENT STRATEGY OF MERCEDES-BENZ VIETNAM LTD., CO – PERIOD 2018 - 2022 Full name : Tran Thi Xuan Thuy ID : 1001806 Class : IEMBA Intake 01 March 2018 INTERNATIONAL EXECUTIVE MASTER OF BUSINESS ADMINISTRATION PROGRAM BUSINESS DEVELOPMENT STRATEGY OF MERCEDES-BENZ VIETNAM LTD., CO – PERIOD 2018 - 2022 Full name : Tran Thi Xuan Thuy ID : 1001806 Class : IEMBA Intake 01 DISSERTATION DECLARATION FORM I declare that this dissertation has neither been submitted to another master program nor any degree-issuing program before DISSERTATION DECLARATION FORM I declare that this dissertation has neither been submitted to another master program nor any degree-issuing program before Additionally, I warrant that the dissertation has been soly conducted by me and I have applied relevant knowledge absorbed from the PGSM’s IEMBA Program to complete my dissertation All my dissertation citations have been acknowledged in the dissertation references I am fully aware that any breach of the above is considered as cheating and leads to the exclusion of my dissertation from the PGSM’s IEMBA Program Student’s Signature Tran Thi Xuan Thuy i ACKNOWLEDGEMENT I would like to send our deepest gratitude to all lecturers I have studied your lectures and materials carefully and sought for various practical references to complete this Thesis I also would like to thank the leadership and staffs of the MERCEDES-BENZ VIETNAM LTD., CO Who have enthusiastically shared with us data and relevant documents to accomplish this important Thesis I swear this is my thesis and I wrote and self-published first Yours respectfully, Writing Tran Thi Xuan Thuy ii INDEX DISSERTATION DECLARATION FORM i ACKNOWLEDGEMENT ii LIST OF ABBREVIATIONS vi LIST OF DIAGRAM, TABLES AND FINGURE IN THE DISSERTATION .vii CHAPTER I: PREAMBLE 1.1.Reason for choosing the topic 1.2.Overview of the research topic 1.3.Research objectives and questions .2 1.3.1 General objectives 1.3.2 Detail objectives 1.3.3 Research questions 1.4 Research Methods .3 1.4.1 Data collection methods 1.4.2 Data processing methods .4 1.5 The meaning of the topic 1.6 Dissertation structure CHAPTER II: THEORETICAL BASIS OF STRATEGIC MANAGEMENT 2.1 Theoretical basis of Strategy and Strategic Management 2.1.1 Concepts 2.1.2 The purpose and role of the strategy 2.1.3 Strategic formulation process 2.1.3.1 Define the mission and objectives of the organization 2.1.3.2 Environmental research implementation 10 2.1.3.3 Strategic formulation 19 2.1.3.4 Strategic selection .20 2.1.4 Strategic formulation tools 21 2.1.4.1 Some strategic planning analysis tools 21 2.1.5 Use UPSTAIR tool to select the strategy .27 2.2 Business strategies of the enterprise .28 iii 1.2.1 Focused growth strategies 28 1.2.1.1 Market penetration strategy 28 1.2.1.2 Market development strategy 29 1.2.1.3 New product development strategy 29 2.2.2 Diversification strategies .30 2.2.2.1 Vertical integration diversification strategies 30 2.2.2.2 Horizontal diversification strategies 30 2.2.3 Growth strategies by outward way .30 2.2.3.1 Growth strategy through merger .30 2.2.3.2 Growth strategy through annexation (acquisition) 31 2.2.3.3 Growth strategy through joint ventures .31 2.2.4 Strategies serve stability target 31 2.2.5 Decline targeted strategies 32 2.2.5.1 Operation narrowing strategy 32 2.2.5.2 Operation cutting strategy 32 2.2.5.3 Liquidation strategy 32 2.2.5.4 Cost reduction strategy .32 2.2.5.5 Product differentiation strategy 33 CHAPTER III: INTERNAL AND EXTERNAL ENVIRONMENT ANALYSIS IMPACTS ON THE BUSINESS ACTIVITIES OF MERCEDES VIETNAM LTD., COMPANY .34 3.1 General information about Mercedes Vietnam .34 3.1.1 The formation and development process of the company 34 3.1.2 Functions, mission and business fields 36 3.1.2.1 Functions & mission 36 3.1.2.2 Business fields 37 3.2 Analyzing external environment factors influences the strategy development of the Company 41 3.2.1 External environment factors .41 3.2.1.1 Macro environment 41 3.2.1.2 Micro environmental factors .54 iv 3.2.2 Analysis of opportunities, challenges and external factors evaluation matrix (EFE) 62 3.2.3 Internal environment 65 3.2.3.1 The issue of organization and HR .65 3.2.3.2 Research and development factors 68 3.2.3.3 Financial - accounting factors 69 3.2.3.4 Technological factors 71 3.2.3.5 Issues in marketing, market research and product consumption .73 3.2.4 Analyzes strengths, weaknesses and internal factors evaluation matrix of the Company (IFE) 75 CHAPTER IV: FORMULATE THE BUSIESS STRATEGY OF MERCEDES VIETNAM LTD TO 2022 80 4.1 Company development orientation 80 4.1.1 Objectives of the Company 80 4.1.2 The immediate objective of the company by 2022 81 4.2 SWOT matrix 81 4.3 Business strategies selection until 2022 84 4.4 Strategic Implementation Solutions 84 4.2.1 Solutions for market penetration strategy implementation 85 4.2.2 Solutions for implementing product development strategies .85 4.2.3 Strategic implementation solutions for joint venture strategy 86 4.2.4 Strategic implementation solutions for narrowing the activity .87 CONCLUSION 88 REFERENCES 89 ANNEX 01 90 ANNEX 02 93 ANNEX 03 95 ANNEX 04 96 ANNEX 05 98 v LIST OF ABBREVIATIONS No Abbreviation Meaning WTO World Trade Organization APEC Asia-Pacific Economic Cooperation AFTA ASEAN Free Trade Area TPP Trans-Pacific Partnership Agreement ASEAN Association of Southeast Asian Nations AEC ASEAN Economic Community EU European Union HCM Ho Chi Minh City DMG Daimler Engine Company 10 MBV Mercedes Benz Vietnam Ltd., Co 11 BoD Board of Directors 12 FED Federal Reserve System 13 GDP Gross Domestic Product 14 NĐ-CP Government decree 15 VAMA Vietnam Automobile Manufacturers Association 16 VCCI chamber of Commerce and Industry of Vietnam 17 TCS Traction Control System vi LIST OF DIAGRAM, TABLES AND FINGURE IN THE DISSERTATION Table 2.1: External Factor Evaluation matrix 21 Table 2.2: Internal factor evaluation matrix 22 Table 2.3: Competitive Profile Matrix 24 Table 2.4: SWOT matrix .26 Table 2.6: Changes in Market penetration Strategies .29 Table 2.7: Changes in market development strategies 29 Table 2.8: Changes in new product development strategy .30 Table 3.1: Sales of Mercedes Benz Vietnam in the period of 2014 - 2017 40 Table 3.2 Overview of the economic situation in Vietnam over the years 45 Table 3.3 Statistics and population forecast in Vietnam .52 Table 3.4 Sales of the brands in the Vietnam market in 2016 and 11 months of the year 2017 .55 Table 3.5 Sales of luxury car manufacturers in the Vietnamese market in 2016 and 11 months of the year 2017 56 Table 3.6 Summary of challenges and opportunities for MBV .63 Table 3.7: External Factor Evaluation Matrix (EFE) of the Company 64 Table 3.9: Revenue of MBV over the years 70 Table 3.10 Summary of strengths and weaknesses of MBV 76 Table 3.11: Internal Factors Evaluation Matrix (IFE) 77 Table 4.1: Summary of SWOT matrix at MBV .82 Figure 3.1: Organizational structure of Mercedes-Benz Vietnam 39 Figure 3.2: Revenue distributed by MBV’s distributor 70 Chart 3.1 GDP growth of Vietnam over the years 44 vii
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