Hình thành chiến lược cạnh tranh của tổng công ty VINACONEX giai đoạn 2015 2020

THESIS SUBJECT FORMING UP VINACONEX’S COMPETITIVE STRATEGY FOR THE PERIOD FROM 2010 TO 2015 TABLE OF CONTENTS Page List of tables List of figures INTRODUCTION CHAPTER I: Basis of theory I.1 Basic theory of business strategy administration I.2 Theory of business strategy administration I.3 Basic characteristics and business strategy administration role I.4 Strategy administration process I.4.1 Three - stage process I.4.2 Business division level I.4.3 Functional strategy I.5 Strategy levels at multi-branch enterprise I.5.1 Competitive strategy 10 I.5.1.1 Strategy of leading its expenses 11 I.5.1.2 Strategy of Differentiation 11 I.5.1.3 Strategy of Centralization 11 I.5.2 Competitive advantages and abilities 12 I.5.3 Setting business strategy process 14 I.5.4 Tools to create competitive advantages 15 I.5.5 Determine strategy process 16 I.6 Control and predict business environment 17 I.6.1 Macro - environment 17 I.6.1.1 Politic – Llaw environment 17 I.6.1.2 Economic environment 17 I.6.1.3 Social & Cultural environment 18 I.6.1.4 Natural environment 18 I.6.1.5 Technological environment 18 I.6.2 Micro- environment 19 I.6.3 Control internal environment 20 I.6.3.1 Assessment for analysis of resources 21 I.6.3.2 Labour resource 21 I.6.3.3 Material resource 21 I.6.3.4 Invisible resources 22 I.7 Strategic planning 22 I.7.1 Vision and mission 22 I.7.2 Identify current strategy 23 I.7.3 Portfolio analysis 23 I.7.4 Selection and assessment of selected strategy 24 I.8 Implementation and examination of selected strategy 24 I.9 Research method 25 CHAPTER II: ANALYSIS OF THE REALITY OF COMPANY 27 II.1 VINACONEX Corporation Introduction 27 II.1.1 History 27 II.1.2 Periods of development 28 II.1.3 VINACONEX Corporation 29 II.1.3.1 Organizing and operating model 32 II.1.3.2 Core competition 36 II.1.3.3 Present competitive and business strategy 37 II.1.3.4 Production and business result from 2006 to prsent 38 II.1.3.5 Business administration 43 II.1.3.6 Finance 45 II.2 THE REALITY ACTIVITIES OF VINACONEX 46 II.2.1 Outside environment analysis 46 II.2.1.1 Opportunities 46 II.2.1.2 Challenge 48 II.2.2 Internal analysis 49 II.2.2.1 Strength 49 II.2.2.2 Weakness 50 II.2.3 Reality of business analysis 54 II.3 Competitive advantages of VINACONEX 55 II.3.1 Analysis of some major competitors in the market: 55 II.3.2.The advantages of VINACONEX as compared with competitors 60 CHAPTER III: PROPOSED STRATEGY SOLUTION AND RECOMMENDATIONS (2010 – 2015) 63 III.1 Judgment on construction and real estate markets 2010 – 2015 63 III.2 Proposed general strategy 69 III.3 Competitive strategy and selected solutions for business 70 III.4 Support strategies 78 III.5 Project proposed for the implementation of the development strategy of Vinaconex in detail 79 CONCLUSION 80 REFERENCES 81 LIST OF TABLES Table II.1: Indicators show the development of VINACONEX Table II.2: Business activity’s result of VINACONEX in the latest years Table II.3: Turnover structure in the period from 2006-2008 Table II.4: Profit before tax structure in the period from 2006-2008 Table II.5: Summarized SWOT analysis Table II.6: Business result of Song Da Corporation Table II.7: Business result of HUD Table II.8: Comparison of business result Table III.1: Budget spending figures Table III.2: FDI figures LIST OF FIGURES Figure II.1: Organization structure of VINACONEX Figure II.2: Assets structure of VINACONEX Figure II.3: Turnover structure of VINACONEX Figure II.4: Profit structure of VINACONEX Figure III.1: Market for rental office Figure III.2: Domestic arrival to major cities Figure III.3: Arrival to Da Nang Figure III.4: International arrival INTRODUCTION The Master of Business Administration Course (referred to as GaMBA here) is run by the Technology Training Center and Employment System – Hanoi National University The Course provides students with theories of different economic and administrative subjects in modern methods The last subject – strategy administration – collect and co-operate taught programs; provides company managers or directors with a vision and business strategies VINACONEX, is a very large construction company, which was changed from a state owned company to a joint-stock company complying with Business Law and it is appropriate to apply with modern international administration methods, our group – M03 includes: - Nguyen Tuan Anh - Nguyen Thuy Hang - Lam Tuan Hung - Le Doan Thanh - Hoang The Trung (Leader) We decided to choose this as our final project: Forming up VINACONEX’s Competitive Strategy for the period from 2010 to 2015 In performing research for the subject, we consolidated general knowledge to analyze, to assess company situation, to develope tendency, and to establish business vision and suitable competitive strategies The final research results can be put in real practice by the company and their staff joining in this course During the research process, competitive strategy is set by analyzing the company’s competitive advantages in comparison with competitors to find the best way to compete in two main business sectors of construction and investment, and real estate business, then, set suitable competitive strategies in period from 2010 to 2015 The details are as follows: - Analyze company current business activities; - Analyze strengths, weaknesses, opportunities, challenges SWOT; - Analyze market trends in company’s business sectors; - Assess the company’s core value and competitive advantages in comparison with competitors; - Propose competitive strategies and solutions for the period of 2010 – 2015; The project is presented into chapters: Chapter I: Basic theory of competitive strategy Chapter II: Analyze Company’s business situation Chapter III: Propose a competitive strategy and recommended solutions for the period of 2010 - 2015 And Conclusion We would like to extend our appreciation to our enthusiastic lecturers to VINACONEX Corporation Management Boards, and related divisions that supported us during our research process Group – GaMBA 01 M03 CHAPTER I: BASIS OF THEORY Activities of a corporation must be in closel association with the whole economy, the integration to regional and international economy by seeking, developing comparative advantages in order to gain success in tough competition in all national, international or global ranges Therefore, in order to adapt to the high effective business environment and long lasting success, corporations in general and Vietnamese companies in particular need to obtain strategic thinking, which means long vision aiming at needed flexible action that ensure the corporation is existing and developing activities in current environmental changes I.1 Basis theory of business administration strategy Business Strategy administration is the collection of business strategy forming, organizing, examining, adjusting activities, that happen repetitively in compliance and non-compliance with periods of time in order to ensure that companies make good use of all opportunities, as well as reduce all challenges and traps in meeting target goals I.2 Specific characteristics and the role of business administration strategy Strategy administration helps companies in orienting their own strategic vision, mission and targets In order to get successful and effective strategy, companies must manage business environment information system Based on that, administrators can estimate changing tendency and determine where the companies go and what they to get long lasting achievements Strategy administration gives companies excellent and well adapted environment strategies Strategies are general solutions that assist companies in obtaining long term targets This is significantly important in the complicated, changeable and competitive global business environment Strategy administration helps companies initiatively make decision to take opportunities timely and reduce risks in external environment, promote ability and lessen weaknesses in internal companies Moreover, this means a lot in reducing risks when facing serious problems, increasing and grasping developing chances I.3 Three - stage process in strategy administration Stage 1: Forming strategy The main content in this stage is to examine both internal and external factors to determine strengths and weaknesses, opportunities and challenges, to set targets, to select and to decide final strategy Stage 2: Operating strategy The main duty of this stage is to check the whole organisation, to propose considerable policy for the operating process, to sett up targets, short term, medium term, and annual solutions, and to distribute resources as set plans Stage 3: Assessing and adjusting strategy This stage is mainly for examining, assessing internal and external factors, measuring, and evaluating results, comparing with “limited” criteria, implementing targets adjustment, policy or solution to get adapted to new activities in business environment I.4 Strategy levels at Multi-branch Corporation The strategy might be run in different levels in corporation in general; however, there are basic levels I.4.1 Company level The company level includes enterprise’s general orientation about administration development in subsidiary companies, distributes financial resources and others sources among member companies determines a desired structure of products, services and business sectors involved and determine how the business categories are being and will be run I.4.2 Business division level The business division level focuses on improving competitive advantages of company products and services or a combination product in the market where the company is involved I.4.3 Functional strategy Focus on administration and effective usages of all company’s resources The functional strategy is being developed to get success from Business division level to Company level I.5 Competitive strategy Each company runs their own strategies that suit their organisation structure Parents Company’s strategy (Corporation) includes general orientation on development, administration of all member companies and product lists Therefore, Parents Company might choose some suggested solutions as follows: Development strategy through mergence, takeover or cooperation Development through mergence is to merge or more divisions to raise strength against challenges or make goods use of development advantages Development through taking over is that big company tries to take over smaller ones to get bigger and stronger associations Development through cooperation is to gather strengths and resources from different partners to raise competition ability and to disperse risks A company using mergence strategy might improve its competitive position in main business sectors by: Firstly, limitingthe competition in internal sectors of business, allowing company to quote higher price and get higher profits For example, in the 1930s, Alcoa and Alcan Companies (America) used reverse mergence to control boxit mine on an island of Caribe sea, Jamaica This mergence prevents new competitors from involving in the sector as their cost might be higher than above companies Secondly, guaranteeing the product quality, for example, Duc Viet Sausage Company manages a supplying system that ensures company’s 10 TT Sector Manufacturing industry Real estate business Food and beverage service Construction Telecommunication Entertainment Agriculture, forestry and 10 aquiculture Mining Transportation Household appliances Finance, Banking, 11 12 Insurance Health and social affairs Bulk & retail, and repairing 13 14 15 16 17 18 service Other services Science Education & Training Office procedures Waste treatment Total Projects Register Capital Legal Capital 6,550 278 229 413 489 110 (USD) 85,981,418,741 32,420,870,557 10,258,854,587 8,730,982,648 4,564,628,824 3,455,753,932 (USD) 28,449,043,285 8,696,349,527 2,215,209,118 3,176,036,248 2,857,559,543 1,041,693,553 468 60 260 37 2,920,317,601 2,682,326,547 2,121,352,009 2,070,892,464 1,432,412,075 1,998,805,156 793,381,012 647,075,453 70 60 1,181,605,080 948,775,273 1,084,318,000 232,901,705 181 46 637 119 86 12 10,105 897,989,961 590,569,500 480,383,209 240,002,203 177,212,926 40,523,000 159,764,459,062 423,290,598 124,173,894 227,738,072 97,049,497 80,592,516 29,823,000 53,607,452,252 (Source: Ministry of Planning and Investment 12/2008) Based on these statistics, the growth of investment in the economy for construction is always at two digits; especially, the rate of investment in construction increased at 26.9% in 2007 and this is a favorable step for the market of construction and installation of VINACONEX It is said that the real estate and construction markets of Vietnam are very attractive and are a promising market of profit returns to shareholders of the Corporation of VINACONEX However, offering a competitive strategy is very necessary to realize, maximize profits III.2 PROPOSED GENERAL STRATEGY With market identification, SWOT analysis, the board of directors of VINACONEX must consider three questions: - Where is VINACONEX positioned? 69 - Where is VINACONEX going to? - What does VINACONEX need to do? Through the analysis of inside factors and external environment, SWOT analysis as well as proposes of general market, we found that VINACONEX is in a race If there are subdivided groups, it can be said that VINACONEX is leading Nevertheless, the second level competitors are trying to pass and the third level competitors are trying to put away VINACONEX So what we have to do? Firstly, we must answer the 2nd question: Where is VINACONEX going to? The answer is: "With the current position of VINACONEX, we must determine the goal of corporation as a leading company of the Ministry of Construction in two main areas: Construction and Real Estate" by 2015: In the field of construction: - Leading the field of construction: civil, industrial, infrastructure, underground works in Vietnam and works with specific application of high technology - Focusing on key segments in the construction of great value projects - Building core companies specialized in construction and installation In the field of real estate: 70 - Being leader in some areas in Vietnam: investment in urban housing areas, residential and commercial infrastructure - Focusing on real estate with large-scale, long-term investment, high profit - Forming a core unit of real estate How to achieve these goals: - We need a favorable and stable competitive strategy which concentrates on different strategies of products and key goods We will focus on analysis of this point - We must have a comprehensive system of supported strategies such as finance, human resources, investment, technology and enterprise restructuring logically - We also need to have a plan, specific and clear schedule in organizing and implementing strategies as well as having a monitor mechanism to organize these strategies, from Corporation to individual member companies; thereby we can evaluate the results of implementation, identify the causes of mistakes and find the best solutions - We must have backup plans to handle the unexpected risk factors of the market as well as the macroscopic economic policies of the state For example, policies of tightening credit for real estate market or policies of controlling risks to world economic crisis Essentially, this is a chosen strategy for VINACONEX III.3 COMPETITIVE STRATEGY AND SELECTED SOLUTIONS FOR BUSINESS As the analysis of competitors, how VINACONEX can compete with Song Da corporations in construction field or how to compete with corporations of investment and housing development Urban (HUD) in real estate business Besides, a variety of other emerging companies such as Bitexco, Nam Cuong, Hoa Binh or other real estate funds of overseas investment such as Capital Land, Indochina Land On the other hand, the essence of formed competitive strategy is to associate 71 the business with environment of its operation; this is the sector which enterprises must compete, analyze the resources, capabilities, and core competence in order to discover competitive advantages and work out a competitive strategy as reasonable as possible So what are VINACONEX’s competitive strategies in the filed of real estate and construction? The proposals for strategically competitive VINACONEX are ordered as follows: Strategy of centralization Strategy of differentiation The first and second strategies are to focus on competing with direct competitors and then we will concentrate on each proposed strategy in the overall competitive strategy of VINACONEX Strategy of centralization Focusing on two areas in which corporations have the highest competitive advantage as the construction and real estate through the implementation: Increasing the proportion of active real estate and construction in revenue and profitability of corporations Reducing the proportion of other businesses in degradation of its total capital at other companies and projects - To businesses which are not in competitive advantages and with no specific characteristics of the Corporation For example, the company maybe limit, reduce or depredate the capital in the producing of conventional materials – cement products (the advantage of cement company) or other simple furniture materials (the advantage of ceramic company) at manufacturing building materials This aim is to reduce the use of capital investment into non – specialized and high-risk areas Actually, this company has degradated the capital of VINACONEXDECOR, Phan Vu Concrete and is having a program to degrade JSC Cam Pha cement - Searching and implementing real estate projects and developing large scale infrastructure to ensure long-term stability, enhancing reputation and brand 72 through investment projects in urban residential areas, residential, commercial infrastructure, recreation areas, tourist areas, managing and providing real estate services With the advantage of available reputation, VINACONEX corporations should focus on real estate projects, bringing its prestige such as Lang-Hoa Lac expressway, Song Da Water Supply Project, Trung Hoa-Nhan Chinh urban residential, the north of An Khanh urban residential, the project of building the first 7-Star Hotel in Hanoi (Hanoi Plaza Hotel) or the largest urban tourism in the North: Cai Gia – Cat Ba - Entering to build large scale projects which focus on main types such as civil, industry, infrastructure, port, installation of concrete structures, steel structures … Strategy of differentiation Unlike other general construction and real estate companies, VINACONEX should focus on diversifying products to create competitive advantage, specifically: - For the construction sector: VINACONEX should focus on projects that have high value technology, such as high buildings using sliding-core technology or structural concrete tensioning, self formwork applied all technology or climbing formwork and formwork sliding curved surfaces in the construction of concrete underground works VINACONEX should not be too much involved in normal projects, it should focus on the projects which have high properties in order to produce more profits and valued brand These projects are typically successful as: Song Da project, this project had a bold and creative idea and it brought the best solution for fresh water for the expansion of Hanoi; Bai Chay bridge project - the largest cable bridge in Southeast Asia The projects require high value in studies field and technological applications which only some Vietnamese companies could do, so they only bring accountable profit but also offer intangible value for VINACONEX brand 73 - For real estate area: this is a very large area from the residential area for people with low incomes to these apartments or urban areas for people with high incomes However, we suggested VINACONEX should focus on the housing segment of middle class with high income (this is the fastest growing class and the most beneficial in the development process of economy) These segments are concentrating on high-ranking villas and apartments, tourist and commercial centers VINACONEX should focus on the projects which are located in relatively favorable positions, large scale, overall and key infrastructure at big cities such as Trung Hoa - Nhan Chinh, North An Khanh, Tay Mo urban residential areas All products of the company from apartments, villas must have high quality, state-of-art design for those with high income condition Two of the successful projects under this model are the NO5 housing projects and Splendora urban residential area which are the most powerful real estate on the quality of life - Also in real estate of VINACONEX: as analyzed in the market determination, this company should also focus on real estate investment and management of tourism, it is relatively new in Vietnam and is particularly high but the Vietnamese main competitors of VINACONEX not actually access in this market where competitors are foreign investors Specific type of property is luxurious, professional management and international, closed co-operation with foreign models, for example, if we build hotels with the Hilton brand, we need follow the landscape and interior designs with the standards of the Hilton-style throughout the world This is a particular product that we proposed VINACONEX can select as one of the strategic direction of investment in their competition and one of the first step is VINACONEX urban tourism Cai Gia- Cat Ba Looking back in 2002-2003, when Trung Hoa - Nhan Chinh work had tallest building in Hanoi and was first applied sliding core concrete technology This technology has proven to be the first of its progress and this was also the urban 74 having most clusters in Hanoi calculated at level complete and use by 2009: blocks with 17 floors, blocks with 18 floors, blocks with 15 floors, blocks with 24 floors and a block with 34 floors Then VINACONEX continuously implemented NO5 area: blocks with 29 floors and blocks with 25 floors already has finished the entire basement, storeys and all the core volume) This is a typical example of applying the same strategy, technology and scale in VINACONEX deployment projects This point will create the value of a brand which developing steadily, creating a competitive advantage as well as a challenge for competitors joining the market Customers will be completely confident when signing the purchase contract with VINACONEX; simply, they believe that they will be delivered in time with the quality of the house exactly as specified Reputation, ability and potential of VINACONEX will be the tool and method to carryout a perfect strategy To go more deeply on this proposed centralization and differentiation strategies of we should come in separately in real estate and construction market For real estate VINACONEX should firstly centralize on the housing market such as the new residential city For this way the company have to study the market carefully as well as the development trend of the big city like Hochiminh, Hanoi, Haiphong and Danang For example in Hanoi the city will be expanded to the West and the new center of the City will be located in the west so the new residential are also should be there and VINACONEX have to jump in this area The existing successful story is Trung hoa – Nhan chinh area but VINACONEX have to go further by new residential project such as An khanh, Tay mo But with centralization we should not invest a lot on too many residential areas, in period of to years VINACONEX should focus on 2-3 projects with suitable scope and create the landmark for whole west region of Hanoi such as the Ankhanh project with 230 acre and Taymo project in similar square and our group believe that with 75 good design and right schedule this will new house for medium class for Hanoi city And now together with centralization the word of differentiation will show its meanings by which in this new residential are we should build a Green City instead of conventional city At first we VINACONEX will not build the cheap house or apartment, VINACONEX should make differentiation by design and build up the apartment for the family who have the income not lower than 250 millions VND/year that means they can spend around 125 millions from they yearly income for their house So with the minimum 80sqm for studio apartment which designed for 02 bedroom and medium-class for interior materials VINACONEX can target at the selling price of 20-25 millions VND/sqm ( this calculation is approximately based the 2009 pricing and applied for area in side of Ring – Hanoi city ) and this family can have their own house in by installment in 15 years Off course in this way VINACONEX have to set up the long-term credit contract with banks who will help and also get the profit from installment contract This strategy is completely different from HUD- VINACONEX’s main competitor in housing market who mainly specifies on the lower level of housing This new area will be also integrated with supporting infrastructure such as school, supermarket , and recreation center Furthermore the new city project build by VINACONEX should improve the quality in construction and also deliver to the Customer the Green city in which all buildings are grown up with energy-saved technology where CO2 emission is lowest as possible and this city will bring a clear and fresh air for all residences By these centralization and different ion strategies combined for housing market VINACONEX will build the landmark new city for Hanoi city and this formulation can be applied in other cities Second phase of centralization for real estate is tourist real estate which include hotel, resort , recreation center both in investment and management We also think this is the different from existing competitors is Songda Corp or HUD anyway in this section VINACONEX have to face to a lot of foreign competitors such as 76 Indochina capital, Vietnam Capital who have long - term investment point of view as well as the professional management plus strong connection with the most famous tourist, hotel , resort management company in the world In this market we suggest VINACONEX should move forward not too fast and must be in thoughtful manner VINACONEX also have to create the differentiation by choosing the most favorable location as well as the unique project We can take Catba-Catgia project as the example for this unique features and this should be the landmark for tourist in Northern area in next five or ten years During project implementation Vinaconex also should learn from the competitors especially from foreign competitors their experiences in project management and the operation management and in our group’s opinion VINACONEX in the beginning should not focus on operation management because we need at least years to learn these experiences Now how is about for construction market how VINACONEX can concentrate all the efforts to be the leading company in the construction In this section for details of competitive strategy our group still recommend VINACONEX keep going on this existing way by which we should not spend much money on the hydro-power plant as same as the Songda corporation as well as on high way business to compete with the companies under Ministry of transportation such as Cienco 1,2,3… This is not means VINACONEX completely not involve in this type of project VINACONEX still boost up this business but we should have the wise selection You can answer the questions why VINACONEX select Lang-Hoalac highway is top priority for construction market and the same story for Baichay Bridge All these projects have auniquefeatures which satisfy the requirement from differentiation strategy Lang- Hoalac highway is the widest profile highway in Vietnam so far and it is also the most important highway from Hanoi city to the west In this project VINACONEX no need to compete with strong company in this field such as Cienco number … but it will bring to VINACONEX intangible profit that is a name “VINACONEX” and if VINACONEX is going in right way , the 77 most spectacular new residential area attached this highway: North An Khanh and Tay mo will create new future and bring VINACONEX band name in next higher level and how we can image that in west side of Hanoi – the most development side of the city – we can called VINACONEX city Furthermore as we analyses above VINACONEX always update the high technology for high-valued project Our group strongly support and encourage the specific competitive strategies by which VINACONEX should participate the national scale project such as National Convention Center , Hanoi Museum , Hanoi new airport terminal or the first Underway metro in Hanoi or Hochiminh city or even the biggest underground packing in downtown of Hanoi All these kind of projects is not the easy one they required not only the high technology in construction procedures but also the new breakthrough in design and most important is ideal Similar to Baichay bridge – the most spectacular bridge in the northern region of Vietnam once again VINACONEX should strictly for the centralization and differentiation strategy by avoiding the direct compete with the companies who is obviously have the competitive advantages in these project but VINACONEX still stimulate and concentrate its values not for normal project but strongly on the high-featured project with high-technology, good location, high level required for design therefore besides the profits the intangible assets VINACONEX can get is much and much better IMAGE which can not come from the normal project, it can not come from the project where not contain the value of new ideal This image is really a motivation to bring VINACONEX name to the new height that is exact the competitive advantages of the company in the future III.4 SUPPORTING STRATEGIES A perfect competitive strategy does not bring itself efficiency and profits for companies, VINACONEX needs to implement strategies and supported programs at the same time, including: 78 - Financial Strategy: represented by the separate financial management and accounting systems; analyzing, planning and forecasting financial issues; balancing and ensuring capital which use leverage financing effectively, developing the policy of medium and long term finance, building control systems and managing financial risks - Strategic HR: it is important for VINACONEX to have clear and consistent policy in their overall strategy Because human is essence issue It decides winning or losing in organizations which carry out the strategy of the company It is necessary to build the management with a modern and reasonable model; a policy to use the right people, right place with the delivery of profits, pushing productivity and quality of labor higher The backup program: the strategy which shows the medium and long term was proposed by 2015 Therefore, in any case, we must have a strategy or a back - up plans for internal and external factors out of forecasts, for example, the financial crisis to the global recession in 2008-2009 It is the largest recession compared with the Great recession in the years before the 20th century It is a reason why a backup script also must prepare to minimize this risk VINACONEX has also applied successfully in 2009, measures such as raising the efficiency of capital use, expanding the investment progress from many projects, accepting slower but sustainable growth, restructuring investment projects III.5 PROJECT PROPOSED FOR THE IMPLEMENTATION OF THE DEVELOPMENT STRATEGY OF VINACONEX IN DETAIL Content 2010 2011 79 2012 2013-2015 Competitiv Continuous Reducing Focusing on main Focusing on large e strategy centralization, investment into projects, applied projects which degradation of capital, disadvantage areas high technology, applied high reducing investment completely creating property technology, into disadvantage areas Focusing on main products and creating property absolutely Enhancing projects, creating different products and investment into real property products construction different estate areas and different Providing high construction construction quality services Providing high quality services Revenue Construction: 45% Construction: 40% Construction: 35% Construction: 30% mechanism - Real estate: 50% - Real estate : 55% - Real estate : 60% - Real estate : 60% - Other revenue: 5% - Other revenue: Other revenue: 5% Other revenue: 5% 10% CONCLUSION Competitive strategies determine orientations, long – term basic development targets, at the same time select the method of implementation and solutions for using company’s limited sources to reach the set targets A successful strategy must 80 be suitable with conditions, and company’s internal and external situations, to create solid competitive advantages, and to improve company’s operation The proposal of “Setting a competitive strategy for VINACONEX period from 2010 – 2015” is being implemented to contribute practical and applicable suggestions for the development of VINACONEX, to become Vietnam’s leading corporation in construction and real estate We have specifically analyzed VINACONEX’s business activities over past years Analyzing SWOT in both internal and external environment, and logical theory basis about setting a competitive strategy, then propose a specific competitive strategy for VINACONEX period 2010 – 2015 In analyzing, We also mention some unusual situations in business environment, such as the positive or negative effects of global financial crisis 2008 – 2009 to the implementation of this proposal We would like to propose a competitive strategy and solution for VINACONEX’s business orientation to meet the Vietnamese financial forecasts by the year 2015: - VINACONEX should focus on main sectors of construction and real estate - VINACONEX should focus on creating differences in products and services - VINACONEX should implement all strategies, and solutions such as finance, technology, administration, and performance Based on these fundamentals, we hope that our proposals will provide VINACONEX’s Management Board with general orientations in further research in order to select and determine competitive strategies (for the Corporation) to become an even more successful corporation in the future 81 REFERENCES 1/ Raymond Alain – Thiétart (1999), Chiến lược doanh nghiệp, Trung tâm Pháp Việt đào tạo Quản lý 2/ Fred R David (2003), Khái luận quản trị chiến lược, Nhà xuất thống kê 3/ PGS.TS Nguyễn Thành Độ, TS Nguyễn Ngọc Huyền (2002), Giáo trình chiến lược kinh doanh phát triển doanh nghiệp, Trường Đại học Kinh tế Quốc Dân, 4/ PGS.TS Lê Văn Tâm (2000), Giáo trình quản trị chiến lược, Trường Đại học Kinh tế Quốc Dân 5/ PGS.TS Nguyễn Thị Liên Diệp, ThS.Phạm Văn Nam, Chiến lược sách kinh doanh, Nhà xuất Thống kê 6/ Viện nghiên cứu đào tạo quản lý (2005), Xây dựng triển khai chiến lược kinh doanh, Nhà xuất lao động xã hội 7/ TS Phạm Thị Thu Hương (2002), Quản trị chiến lược kinh tế toàn cầu, Nhà xuất khoa học kỹ thuật 8/ Quản trị chiến lược hiệu (2006), Cẩm nang kinh doanh Harvard, Nhà xuất tổng hợp TP Hồ Chí Minh 9/ PGS.TS Lê Thế Giới, TS Nguyễn Thanh Liêm, Ths Trần Hữu Hải (2007), Quản trị chiến lược, Nhà xuất thống kê 10/ Các website quản trị chiến lược 11/ Báo cáo kết hoạt động sản xuất kinh doanh VINACONEX năm 2006, 2007, 2008 sáu tháng đầu năm 2009 12/ Website : www.vinaconex.com.vn 13/ Website : www.cbrevietnam.com 14/ Website Bộ kế hoạch đầu tư : www.mpi.gov.vn 82