Chiến lược Hình thành và phát triển Quỹ Bảo vệ môi trường Việt Nam giai đoạn 2020FORMING DEVELOPMENT STRATEGY FORVIETNAM ENVIRONMENT PROTECTION FUND IN 2010 2020 THEORETIC PROBLEMS OF STRATEGIC MANAGEMENTANALYZING THE SITUATION OF STRATEGIC MANAGEMENT IN VEPF
PROJECT FORMING DEVELOPMENT STRATEGY FORVIETNAM ENVIRONMENT PROTECTION FUND IN 2010-2020 i ACKNOWLEDGEMENT We, would like to extend our gratitude to all the professors and university staff for their guidance and support through which we know the way to practice the theories and improve our awareness Let our thanks also go to Vietnam Environment Protection Fund for their assistance in our collection of data and relevant support for the timely completion of this capstone project ii TABLE OF CONTENTS ACKNOWLEDGEMENT INTRODUCTION: RESEARCH CONTEXT .1 Reason to choose this topic .1 Research objective: Research object and scope Research method .3 CHAPTER – THEORETIC PROBLEMS OF STRATEGIC MANAGEMENT .5 1.1 Concept of strategic management 1.1.1 Definition of strategic management 1.1.2 Strategic management process 1.2 Strategy commitment .9 1.2.1 Strategy vision 1.2.2 Strategy mission 10 1.2.3 Values 11 1.3 Strategy analysis 12 1.3.1 Macro-environmental analysis .12 1.3.2 Sectorial environmental analysis 12 1.3.3 Internal environmental analysis 13 1.3.4 SWOT matrix analysis 13 1.4 Strategy establishment and selection 15 1.4.1 General strategy 15 1.4.2 Strategy selection 16 1.5 Strategy implementation – check, evaluation 16 1.5.1 Organizational structure .16 1.5.2 Strategy implementation 18 1.5.3 Strategy implementation’s check and evaluation 19 i CHAPTER TWO - ANALYZING THE SITUATION OF STRATEGIC MANAGEMENT IN VEPF 20 2.1 An overview of VEPF – Vietnam’s Environmental Protection 20 2.1.1 Overview of the establishing process and the legal basis of operation of VEPF 20 2.1.2 Organization system 22 2.1.4 Professional activities: 24 2.2 Analyze and evaluate the strategic development management of VEPF 31 2.2.1 Commitment 31 2.2.2 Analysis of impacts on development strategies of VEPF – Challenge, Risk and Opportunity 31 2.2.2.4 Reasons for the limitations 45 2.2.3 Analysis of rivalry and core competencies .47 2.2.4 Present developing strategies of VEPF 48 2.2.5 Current organizational structure and supervisory system .48 2.2.6 Evaluation of the implementation of VEPF strategies- advantages and disadvantages .48 CHAPTER - MEASURES TO IMPROVE VEPF DEVELOPMENT STRATEGIES 2010-2020 .50 3.1 VEPF development orientation 50 3.1.1 SWOT analysis 50 3.2.2 Development orientation .52 3.2 Development strategy commitments 52 3.2.1 Vision .53 3.2.2 Mission 53 3.2.3 Objectives .53 3.3 VEPF development strategies for 2010-2020 .54 3.3.1 Strategies on policies and regulations 54 3.3.2 Strategy on capital mobilization .54 ii 3.3.3 Strategies on banking operations 55 3.3.4 Strategies on human resources 55 3.3.5 Strategy on international cooperation 55 3.4 Strategic solutions 55 3.4.1 Strategic solutions for policies and regulations 55 3.4.2 Strategic solutions for capital mobilization 57 3.4.3 Strategies on banking operations 64 3.4.4 Strategic solutions for human resources management 66 3.4.5 Strategic solutions on development cooperation 73 3.4.6 Facilitating conditions for strategy implementation .74 3.5 Improving the organizational structure for strategy implementation, strategy inspection, monitoring and evaluation 75 3.6 Strategy implementation roadmap .76 3.6.1 Steps to follow in strategy implementation 76 3.6.2 VEPF development strategy implementation roadmap 76 CONCLUSION REFERENCES iii INTRODUCTION: RESEARCH CONTEXT Reason to choose this topic In the past, activities aiming at protecting environment, preventing environmental deterioration and pollution, enhancing environmental quality, protecting biodiversity and improving awareness on environmental protection are important goals in the National Strategy on Environment of Vietnam To partially cater the capital need for these goals, the Prime Minister has issued Decision No 82/2002/QDD-TTg on 26/6/2002 on establishment, organization and operation of Vietnam Environment Protection Fund Vietnam Environment Protection Fund (VEPF) was founded with an initial chartered capital of 200 billion dongs, then increased to 500 billion dongs (2008) Operating goals of Vietnam Environment Protection Fund is to mobilize capital from organizations, individuals in the country and overseas; to receive investment capital from the State in order to support programs, projects, activities and tasks on evironment protection in the whole country" VEPF operates not-for-profit but it has to compensate its expenses and preserves the chartered capital After six years, VEPF has many contributions in environmental protection, invest to resolve problems in some polluted areas and overcome environmental incidences All projects which are loaned or financially supported by VEPF have achieved goals relating to environmental treatment so as to gradually achieve international standards on environmental protection Through funding activities, VEPF has made a contributiion to reduce damages caused by natural disasters such as flood in some provinces in the Central and the North of Vietnam, overcome oil overflows, pollution caused by floods in some provinces in some provinces in Northern Vietnam VEPF also initially funded awards, publicity campaigns aiming at enhancing people's awareness on environmental protection such as: Hochiminh City Green enterprise awards, National Press award for environment However, besides achievements, mechanisms, policies for VEPF's operations are incomplete and unsystematic; thus managemetn mechanisms of VEPF have not been clearly defined, human resources of VEPF have not satisfy the needs of a new area and a wide scope of operations in the whole country Besides, VEPF has neither fully promoted its available resources nor mobilized financial sources that according to the law, can be operating capital of VEPF, the implementation of VEPF's operations is not really effective in terms of soft loan, interest rate support as well as funding, co-fungding and international cooperation Until now, VEPF only satisfies a small part of capital need for environmental protection activities of Vietnam in general and of enterprises, project owners in particular Based on the objectives at the establishment of VEPF and real operating resutls after years, the study and evaluation of all aspects of VEPF's current activities including achieving results, drawbacks, limitations and reasons, from that, proposing solutions for the sustainable development of VEPF is an important element for building a model and operating orientation for VEPF in the future in order to promote to the highest VEPF's role as a tool of the Government to mobilize domestic and overseas resources for environmental protection of Vietnam in the coming period Therefore, in order to apply knowledge of the MBA course in real life, the research group choose the topic: "Building development strategy of Vietnam Environment Protection Fund during the period 2010-2020" for the graduation assignment of the Master of Business Administration course (GaMBA) Research objective: The topic: "Building development strategy of Vietnam Environment Protection Fund during the period 2010-2020" aims to achieve objectives as follow: - Systemizing fundamental issues about strategic management in general and corporate strategic management in particular; - Through carrying out this topic, analyzing and evaluating current implementation of the development strategy at VEPF from the establishment day (2002) until now; - Based on the analysis of current situation, proposing solutions for the development strategy of VEPF during the period 2010 -2020 Research object and scope This topic mentions the study of a specific unit, Vietnam Environment Protection Fund This is a newly established State financial organization, under the Ministry of Natural Resources and Environment, financially managed by the Ministry of Finance Time frame of the research: from 2002 (the establishment year) until the period 2020 Research method Directly collecting information from VEPF as well as referring to books and records for data from 2002 -2009 Referring to documents, newspaper, books and previous study syllabus as well as information from Internet Analyzing, synthesizing, comparing, contrasting, interpreting, concluding and totaling up to have confident conclusion Besides, to enhance research quality, meeting real demand, the topic has requested specialists' opinions as a method during the study Applying SWOT analysis to analyze and handle study results about business environment, to help VEPF build a prudent strategy Expected results The topic: "Building development strategy of Vietnam Environment Protection Fund during the period 2010-2020" aims to achieve expected results when the assignment finishes They are: - Completely mastering theories of strategic managemetn; - Practising, completing a scientific and effective working method when applying technological advances in real economic activities; - Making a contribution to build and develop VEPF in the coming period The specific results of the topic: Building the deveopment strategy of Vietnam Environment Protection Fund during the period 2010-2020 and the process for implementing this strategy Topic structure The topic: "Building development strategy of Vietnam Environment Protection Fund during the period 2010-2020" beside the Introduction and Conclusion, the content consists of chapters: CHAPTER - THEORETICAL ISSUES ABOUT STRATEGIC MANAGEMENT CHAPTER 2: ANALYZING CURRENT STRATEGIC MANAGEMENT AT VIETNAM ENVIRONMENT PROTECTION FUND CHAPTER 3: BUILDING THE DEVELOPMENT STRATEGY OF VIETNAM ENVIRONMENT PROTECTION FUND DURING THE PERIOD 2010-2020 CHAPTER – THEORETIC PROBLEMS OF STRATEGIC MANAGEMENT 1.1 Concept of strategic management 1.1.1 Definition of strategic management Strategic management is a combination of decisions, actions leading to repeated strategy planning, implementation, evaluation and adjustment according or not to time’s development process; it aims at ensuring that businesses take advantagesof opportunities as well as evade risks from the business environment in order to achieve given objectives It can be infered from the above definition that: - Strategic management is a combination of decisions, actions leading to strategy planning, implementation, and evaluation, in order to perform successfully strategic objectives of the business - Strategic management is the process in which businesses research environment to establish, organize and carry out strategies, aim at achieving strategic objectives in current and future business environment (This is the foundation for strategy establishment) - Strategic management is not only a science but also an art of forming, organising, carrying out, verifying and assessing general decisions which help the business obtain its long-term objectives 1.1.2 Strategic management process The below diagram illustrates ordinary stages of strategic management process: VEPF There should be separate mechanism to encourage enterprises under Decision 64/2003/QĐ – TTg to borrow from VEPF (for example: no collateral requirement, VEPF lending 100% investment expenses, project owner returning 50% of loan etc.) Besides, VEPF needs to actively provide syndicated loans to ensure providing loans to diversified borrowers, applying diversified supporting methods such as providing loan and support concurrently to enhance effective usage of capital * Supplement, consolidate operational processes and procedures at VEPF VEPF needs to continue supplement, streamline and complete operational processes and procedures; cooperate with relevant stakeholders to solve problems arising during project implementation (mechanism and procedures for lending, appraising, collecting loan, CDM, collateral etc.) and funding activities to increase the effectiveness of projects * Enhance the effectiveness of project appraisal activities, focusing on collecting loans to ensure loan recovery, meanwhile developing professional working style Further enhance the quality of project appraisal activities and financial support activities As the aim of VEPF is to guarantee loan recovery, though overdue debt has yet to arise, VEPF should focus on loan collection activities to ensure loan recovery and revolving loans VEPF should also pay attention to developing professional working style and providing good services to customers VEPF needs to closely cooperate with local government and enterprises in lending, funding, monitoring disbursement and debt collection etc to provide good supports to customers Violation of VEPF as well as legal regulations needs to be punished 3.4.4 Strategic solutions for human resources management 66 The organizational structure and regulations on reporting relationships within VEPF have been identified in the VEPF organizational and operational charter VEPF can only identify areas for improvement after a period of operation What should be focused are the human resources and their working facilities * Human resources Similar to any other organization, VEPF has types of human resources: managerial administrative staffs and professional staff VEPF managerial staff, as specified in VEPF establishment decision, basically holds concurrently different posts (VEPF Chairman and members of the Management Board) This is both an advantage and a disadvantage for VEPF operations Such disadvantages should be addressed and eliminated through enhancing the professional expertise and the working productivity of other managerial staffs that not hold concurrent positions VEPF operational capacity cannot be maintained at high level if these highly qualified managerial staffs are not recruited Together with attracting and recruiting such work force, the training, working conditions and policies for the work force is also a concern if VEPF is to motivate and encourage staff commitment It should be noticed that staffs involved in capital mobilization tasks are required to have the capacity to frequently develop and nurture long-term relationships with partners It is also important to note that together with capital mobilization capacity, disbursement capacity is among the most important capacities required in staff recruitment and training * Working facilities Working facilities mentioned herewith refer to modern means of connection between VEPF and external individual and organizational partners This means are important as seeking capital as well as developing and nurturing relationships with partners require VEPF to have frequent contact with external partners Modern 67 working facilities not only make this process effectively, promptly and conveniently but also enhance the attractiveness of working for VEPF * Organizational structure According to Decision on establishment of VEPF of the Prime Minister, VEPF is defined as "a state-owned financial institution under the administration of Ministry of Natural Resources and Environment and Ministry of Finance" This Decision defines the rights of VEPF to "organize and operate its professional units according to its charter, objectives and assigned tasks” The organizational structure and reporting matrix within VEPF can be summarized as below (Diagram 3): Diagram 3: Organizational structure and reporting matrix within VEPF 68 VEPF VEPF Board of Management Supervisory Board Professional Advisory Board Executive Board Board of Directors Coun cil Coun cil Coun cil … Supporting units Admin Operational units Coun cil Coun cil Coun cil … Note: Direct reporting relationships Cooperating relationships The tasks, rights and obligations of units and divisions in VEPF organizational structure are specified in details in the Organizational and operational charter of VEPF 69 In the 2010-2020 period, VEPF should propose to the Government, the Prime Minister and related government agencies to promptly consolidate and improve the effectiveness and the specialization of VEPF organization and operations VEPF organizational structure should be re-organized towards professionalism, effectiveness, and cost-effectiveness: a VEPF technical board should be consolidated; VEPF Director should be directly involved in day-to-day management of VEPF and has the capacity to solve all problems related to VEPF In the coming time when VEPF activities are expanded, VEPF needs a Vice Director with experience and professional knowledge to support VEPF Director in managing operational activities (lending, collecting loans, and attracting external funding etc.) b Members of the Supervisory Board should not hold concurrent posts This Board has the responsibility to supervise and monitor the whole operations of VEPF c Operational units need to be restructured to ensure their quantity and quality Some independent units and divisions should be established and provided with qualified staffs d Based on the assessment of the needs for environmental protection support at local and enterprise levels, in the coming time, VEPF should consider establishing some VEPF branches in some provinces and cities At present, VEPF needs to promptly establish branches in big major cities such as Hanoi, HCMC, Da Nang, Hai Phong etc to promote supportive activities and further enhance effectiveness of VEPF operations * Training to enhance human resources capacity VEPF needs to promptly develop detailed plan of training and capacity building for existing staffs and recruiting highly qualified staffs with professional experience in banking and finance and knowledge in environmental issues VEPF can build capacity building and training plan as well as incentive mechanism as below: 70 First, VEPF needs to classify its staffs according to the following major criteria such as adequate professional knowledge for the task, good ethic, responsible, good command of foreign languages and IT as well as promotion opportunities After classifying staffs, VEPF will assign different groups of staffs to different training sessions to improve the effectiveness of training activities For domestic training: Training on professional expertise, working methods and updated knowledge in the field For overseas training: Expanding international cooperation in training activities with regional and international donors The focus should be on training and capacity building for managerial and professional staff, for leading experts in credit appraisal and credit rating, funding, risk management, remittance and payment etc as the basis for further developing these staffs in the future Training of trainers: Each unit or division will select and send some highly qualified staffs with learning and teaching capacity to domestic and overseas training sessions These trained staffs will later be responsible for training, guiding and disseminating the knowledge acquired to leaders and staffs of VEPF With regards to training content, VEPF should provide its staffs with comprehensive retraining on banking and finance, project appraisal, credit granting and monitoring as well as environment-related knowledge etc Besides, with the increasing requirement for foreign languages and IT knowledge of the integration process, VEPF needs to promptly organize training and retraining programs on foreign languages for its staffs Foreign languages training should be VEPF priority especially when foreign organizations and agencies provide support to VEPF 71 * Building incentive mechanism to attract talented staffs VEPF should actively propose to relevant ministries and sectors plans to encourage and attract talents to work at VEPF, focusing on such factors as working conditions, salary, working environment etc., specifically: Working environment and conditions: VEPF, in cooperation with relevant agencies, needs to find working office for VEPF to stabilize VEPF operations in the coming time VEPF can construct new or rent convenient working office for VEPF transactions Besides, adequate working facilities such as personal computers, chairs and tables need to be equipped Additionally, VEPF should also focus on consolidating an effective and consensus-oriented working environment Salary: As VEPF is a distinct financial institution, VEPF staffs receive similar salary and allowances with those of state-owned enterprises However, in order to attract highly-qualified staffs, VEPF also needs to reconsider its salary policy and propose to relevant government agencies suitable salary policies with the role and operations of VEPF Furthermore, VEPF needs to study, develop and issue criteria for staff performance appraisal, based on which rewarding policies can be defined * Recruitment of professional staff By September 2009, VEPF has only had nearly 40 staff This number is insufficient given the requirements and objectives of VEPF Therefore, VEPF needs to have plans to recruit professional staffs In the 2010-2020 period, the number of VEPF staffs should be 200 Also, additional branches in major cities and provinces need to be set up * Developing a modern synchronous infrastructure system based on IT application, including: - Information support system: Includes applications that can provide diversified information for VEPF management activities Applications are analyzed 72 and designed on data storage platform, detailed information and data can be accessed and downloaded from the server system - Application system: Human resources management system, VEPF legal document archive searching system, website and email system - Besides, VEPF also needs to invest in and develop a modern, high-quality hardware system to fully utilize IT applications to improve the effectiveness of VEPF 3.4.5 Strategic solutions on development cooperation * Networking In its early stage of operation, the establishment of network between VEPF and financially powerful organizations and individuals is a significant task In other words, the establishment, maintenance and development of such network are among decisive conditions for the existence and development of VEPF As mentioned in part 2, this network should cover: - National partners, including: + Banks (development investment, development assistance, commercial banks,…) + VEPF (development investment, development assistance) + Financial companies ( securities, financial leasing…) + State Bank of Vietnam + Others - Foreign partners, including: + Multilateral international banks (WB, ADB, ) + International environnent VEPF (GEF, WWF, ) + Foreign environmental VEPFs with representatives in Vietnam and regional countries (SIDA fund, SDEF,…) 73 + International donors ( UNDP, AUSAID, USAID, CIDA, SIDA,…) + Others * Communication of VEPF activities VEPF should actively promote communication campaign to introduce VEPF and its activities to related organizations and agencies Different methods of communication can be adopted in isolation or in combination: a Cooperating with the press, central and local television to implement advertising programs, with articles or programs providing analysis and assessment of VEPF activities on monthly or quarterly basis, subject to VEPF financial capacity and budget for this activities - Organizing training programs on environmental protection, accompanied by provision of financial supports to environmental protection projects implemented by central and local agencies, enterprises, economic and social organizations b Continue to revise, complete and publish VEPF brochure in different languages (currently in only languages) and improve its pictures and format This not only enhance VEPF image but also attract the attention of customers to VEPF activities c In the meantime, VEPF needs to further boost promotion activities, seek activities and projects; guide and advocate economic, social organization, enterprises to cooperate with VEPF in implementing these activities and projects 3.4.6 Facilitating conditions for strategy implementation As a state-owned financial institution in charge of implementing public policies, VEPF can successfully implement its development strategy under the following conditions: - Complying with Government policies and legal regulations 74 - Having support from related organizations, especially the Ministry of Natural Resources and Environment, the Ministry of Finance, the Ministry of Planning and Investment, the State Bank of Vietnam - VEPF management and staffs share the same objectives and determination to achieve those objectives - Frequently monitoring, and adjusting strategies during implementation process 3.5 Improving the organizational structure for strategy implementation, strategy inspection, monitoring and evaluation The organizational structure and the internal control system is an integrated system of a series of activities, solutions, plans, viewpoints, policies and regulations as well as efforts of each member of the organization in order to ensure that the organization operate effectively and achieve its objectives In other words, they are a combination of all factors that an organization needs in order to achieve its objectives and avoid problems In the case of VEPF, such system needs to be strengthened to achieve powerful organization, professional operations and sharp expertise Inspection and appraisal is the process of monitoring and evaluating the quality of strategy implementation to ensure that strategies are implemented, adjusted with changes in the environment and continuously improved VEPF strategy monitoring and evaluation needs to be built, adopting the following model: Leading: Board of Management, Board of Directors Executing and organizing: Board of Directors Implementing: Operational departments, social organizations, and VEPF staffs Inspecting and supervising: Board of Management, Board of Directors, Technical Board, and Internal Audit 75 3.6 Strategy implementation roadmap 3.6.1 Steps to follow in strategy implementation In general, strategy implementation roadmap consists of the following steps Step 1: Set up organizational structure for implementing, monitoring and supervising VEPF activities and improve capital mobilization and capital using capacity for VEPF Based on Prime Minister’s Decision on the establishment of VEPF and on VEPF organizational and operational charter, VEPF needs to consolidate the existing organizational structure In this structure, with the importance of capital mobilization activities, there should be a Vice Director and a separate department in charge of mobilizing capital for VEPF This unit operates under the direct supervision of the Vice Director mentioned above In other words, the first step in strategy implementation is to consolidate the organization Step 2: Implement synchronously but in priority order the VEPF development strategies This is the next important step that should be implemented In another words, step provides the synergy or motive while step maintains and speeds up the whole VEPF engine Step 3: Evaluate and supervise the implementation of development strategies, revise and adjust unsuitable content This step is streamlined into previous steps and is implemented throughout the strategy implementation process Based on actual implementation results (success or failure), VEPF can assess and draw out lessons to complete the factor “development of VEPF” as well as continue capacity building for this institution If VEPF operates successfully, VEPF can even consider the possibility to set up specialized unit to support the development strategy implementation process 3.6.2 VEPF development strategy implementation roadmap With the above mentioned steps, implementation roadmap from 2010 to 2020 can be: 76 During 2010 -2012: Implement step In the context of administrative reform, VEPF can only be established and actually operate in 2010 as: Firstly, only in 2010 can VEPF have sufficient physical conditions (office, charter capital, staffs etc) as well as accompanied legal and administrative procedures (operation registry etc) necessary for its establishment and operation For example, in order to obtain the charter capital provided by the government for years of operation, VEPF has to wait State budget plan for 2010 Similarly, in order to recruit staffs, VEPF has to wait for government staff plan for 2010 (as VEPF is defined as a state-owned financial institution) Secondly, VEPF is identified as an institution under the administration of the Ministry of Natural Resources and Environment, a new ministry established based on some government agencies, including the General Department of Environment under the former Ministry of Science, Technology and Environment The Ministry of Natural Resources and Environment is now waiting for the Decree on the Ministry’s organizational structure to be issued by the Prime Minister, in which VEPF Environmental Protection is an affiliated organization This Decree is expected to be promulgated by the end of 2012 - During 2012 - 2020: Implement step The reason for choosing 2013 is that a 3-4 year period (2012-2016) is average time, according to national and international experience, for VEPF to operate independently in terms of finance, and for public interest This period starts from VEPF establishment to its smooth operation (in case of success) Especially with the requirement to establish, consolidate and expand VEPF network, 3-4 years is considered necessary period - During 2011-2020: Implement the activities listed in step 77 CONCLUSION In the modernization and industrialization process, in the context of increasing environmental pollution, degradation, financial investment for environmental protection becomes more urgent than ever before This covers national and international environmental protection, including the proper allocation and use of investment in environmental protection to achieve high and sustainable economic growth of Vietnam in its industrialization and modernization process Undoubtedly, in the next 10 years (2010-2020), the industrialization anf modernization process will pose great urgent challenges for environmental protection activities This period also requires more financial investment for environmental protection Promoting the strengths, limiting the weaknesses and effectively implementing VEPF activities are among the urgent tasks aiming at achieving the objectives set by the government Among the most important tasks of VEPF is developing VEPF development strategies for 2010-2020 The establishment and operation of VEPF marks a significant milestone in implementing government policies on socialization and diversifying investment in environmental protection A properly designed and suitable development strategy for VEPF will help synthesize the efforts of different stakeholders to overcome obstacles, fully utilize all opportunities, and existing and potential national and international resources for environmental protection In order to implement VEPF strategy on capital mobilization for Vietnam Environmental Protection Fund, these strategies need to be concretized into policies and implementation plan Capital mobilization strategies will create an action framework for concretizing policies and implementation plan Within the framework of an MBA dissertation, we have applied knowledge acquired through the course to carry out the following specific tasks: - We have analyzed and assessed VEPF capacity, adopting the value chain model From such analysis, we have identified core capacity and factors lxxviii contributing to the competitiveness of VEPF The SWOT instrument has also been adopted to identify strengths, weaknesses, opportunities and threats of VEPF in order to help VEPF develop suitable development strategies - Draft VEPF development strategies for the 2010-2020 period based on analysis of internal and external environment and identification of suitable tasks with VEPF core capacity - Recommend conditions and measures to successfully implement and execute strategies - Strategic measures proposed in this dissertation have practical implications for VEPF in the future They enable VEPF to gradually develop to the position of a state-owned financial institution which ensures sustainable development, promotes environmental reservation and protection activities, and contributes to implement objectives specified in the National Environmental Strategy However, due to time and experience constraints, this study surely has shortcomings Within the framework of a study on strategy development, we have yet to develop a clear, specific plan to implement strategies More in-depth analysis is needed to ensure effective and suitable implementation of strategies Besides, strategies may also need adjustment to make them suitable with the practice This dissertation will be further revised and improved in the year 2010 During the study, the researchers have received considerable support and encouragement from professors giving lectures in Strategic Management We have fully utilized all knowledge acquired through the MBA course, studied various reference materials in strategic management, collected and processed data about VEPF, related websites and research findings of colleagues and fellows However, given the restricted time and knowledge, shortcomings are indispensable Therefore, we welcome all comments and inputs to further improve the study Thank you very much lxxix REFERENCES -Grant, Robert M., Contemporary Strategy Analysis: Concepts, Techniques, Applications, 2005, 5th ed Blackwell Publishers -Hill, M., Ireland, R., and Hoskinsson, R., 7/e, 2007, Quản trị chiến lược: Cạnh tranh toàn cầu hoá (Strategic Management: Competition and Globalization), Thomson Southwestern -Lê Thế Giới –Nguyễn Thanh Liêm – Trần Hữu Hải, Quản trị chiến lược (Strategic Management), 2007, Statistics Publisher -Michael E Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors, 1998,1sted Free Press -http://www.mckinseyquarterly.com/home.aspx -http://www.harvardbusiness.org/resources/strategy -Studies on VEPF within PCDA projects -VEPF’s resources -Strategic management textbook published by the Statistics Publishing House 2009 -Strategic Management textbook published by National Economics University Publishing House 2009 Strategic Management textbook of the MBA training program held by Hanoi National University and Griggs University lxxx [...]... important factor of strategy establishment and selection is just the vision of individuals or teams participating in strategy planning, this factor is 9 dependent upon intuition of individuals or teams Analysis and intuition are the bases for giving decisions in forming strategy in accordance with business environment In the face of such a changeable business environment, leadership’s good intuition and... protection in the period of industrialization and modernization highlighted the important part of environment protection toward the development of country The instruction also proposed solutions for implementing organization including strengthening and diversifying investment for environmental protection Due to the urgent demands for protecting environment, sustainable development and global integration,... government in setting up potentials for environmental protection activities at the central and local levels, encouraging and defending the legitimate interests of organizations and individuals at home and abroad in investment in various forms, applying science and technology advance to environmental protection Immediately after guiding implementation for Environmental Protection Law (the former), the...Lead -in Internal environment Strategy intention Strategy mission External environment Mergence & re-structuralization Strategy result Action Strategy Strategy establishment Business-level strategy Strategy enforcement Active competition Corporationlevel strategy International strategy Cooperative strategy Feedback Strategic management process Business management Leadership strategy Structure... Council of Vietnam Environment Protection Fund comprises of seven (7) members, working concurrently, including representatives Departmental-level heads from Ministries such as Ministry of Natural Resources and Environment, Ministry of Finance, Ministry of Planning and Investment and State Bank of Vietnam The Chairman is a Vice Minister of Ministry of Natural Resources and Environment Depending on requirements... control Business setting and innovation Competitive strategy with overaverage level of profit 1.1.2.1 Strategy planning Strategy planning is the very stage in which companies establishes and selects strategic projects to organize and deploy in fact; this stage follows 4 steps: Step 1: - Defining functions of company (Define company’s mission) - Defining business field and industry - Defining vision... understanding of the environmental conditions that organizations have to confront General environment that organizations often encounter can be divided into three levels: the macro environment, working environment and internal environment Macro environment affects all industries, but unnecessarily in a fixed way The working environment is determined for a specific industry; with all companies in industry... attracting human resources Therefore, company needs to pass the feedback information system and checking methods to monitor and evaluate implementation Thus, the strategy establishment and implementation process is performed through 7 following steps: Defining missions and objectives Analyzing external environment Analyzing internal business Establishing strategic projects Analyzing and selecting strategy. .. reserve fund to deal with the environment depression, environment pollution and environment incidents in order to cope with them initiatively The financial source for establishing this fund includes the capital extracted from State budget, contribution from enterprises (including joint-venture enterprises) and contribution from individuals and organizations at home and abroad to environment protection. .. supporting activities seize 3% and no supporting interest rate lending activity for financial and credit organizations was carried on 2.1.4.4 Further developing cooperation Based on initiatively extending relation and finding international partners, coordinating with general cooperation programs of Ministry of Natural Resources and Environment, together with making contact with at home banks such as Foreign