DSpace at VNU: Developing business strategies for Hau Giang Pharmaceutical Joint Stock Company (2012-2015)

Developing business strategies for Hau Giang Pharmaceutical Joint Stock Company (20122015) Nguyễn Quý Anh Tuấn Khoa Quản trị Kinh doanh Luận văn Thạc sĩ ngành: Kinh doanh quản lý; Mã số: Người hướng dẫn: TS Vũ Anh Dũng Năm bảo vệ: 2011 Keywords: Công ty cổ phần; Quản trị kinh doanh; Dược; Chiến lược kinh doanh Content TABLE OF CONTENTS ACKNOWLEDGEMENTS .i ABSTRACT ii TÓM TẮT v TABLE OF CONTENTS viii LIST OF TABLES xi LIST OF FIGURES xii LIST OF ABBREVIATIONS xiii CHAPTER 1: INTRODUCTION 1.1 Necessity of the thesis 1.2 Research aim and objectives 1.3 Research questions 1.4 Research methodology 1.5 Scope of the research 1.6 Significance of the research 1.7 Suggestions for future research .7 1.8 Thesis structure .7 CHAPTER 2: LITERATURE REVIEW 2.1 Strategy overview .9 2.1.1 Strategy definition 2.1.2 Hierarchy and types of strategy 11 2.2 Strategic management process .16 2.3 External scanning: macro environment and industry environment analysis 17 2.3.1 Macro environmental analysis: P.E.S.T.E.L Model 17 2.3.2 Industry environment analysis 18 viii 2.3.3 Synthesis of external factors – External Factors Analysis Summary (EFAS) 23 2.4 Internal scanning: organization analysis .25 2.4.1 Resource-based view of the firm 25 2.4.2 Value chain of the firm 26 2.4.3 Synthesis of internal factors – Internal Factors Analysis Summary (IFAS) 28 2.5 Strategy formulation 29 2.6 Strategy implementation .30 2.6.1 Management issues 30 2.6.2 Tactical issues 34 2.7 Strategy evaluation and control 35 2.8 Chapter review .37 CHAPTER 3: ANALYSIS ON VIETNAM PHARMACEUTICAL MARKET 39 3.1 Overview of Vietnam pharmaceutical market 39 3.2 Notable characteristics of Vietnam pharmaceutical market 42 3.3 Forecasts on Vietnam pharmaceutical market in 2012 – 2015 50 3.3.1 Development prospects of Vietnam pharmaceutical market 50 3.3.2 Prescription drug market forecast 51 3.3.3 OTC drug market forecast 51 3.3.4 Patented Drug Market Forecast 52 3.3.5 Generic drug market forecast 53 3.3.6 Pharmaceutical Trade forecast 54 3.4 Synthesis of External Factors – EFAS (External Factors Analysis Summary) .55 3.5 Chapter review 58 ix CHAPTER 4: ANALYSIS ON DHG PHARMACEUTICAL COMPANY62 4.1 Overview of DHG pharmaceutical company 62 4.1.1 Establishment and development of DHG 62 4.1.2 Scope of business and major products of DHG 64 4.1.3 Vision, mission and core values of DHG 65 4.1.4 Organizational structure of DHG 66 4.1.5 Business performance of DHG 67 4.3 Internal analysis for DHG .69 4.3.1 Value chain analysis of DHG 70 4.3.2 Distinctive competencies of DHG 75 4.4 Competitive position of DHG 77 4.5 Synthesis of internal factors – IFAS (Internal Factors Analysis Summary) 87 4.6 Chapter review .91 CHAPTER 5: STRATEGY DEVELOPMENT FOR DHG IN 2012 – 2015 93 5.1 Orientations and objectives of DHG in 2012-2015 .93 5.2 Strategy development for DHG 94 5.2.1 International experience on strategy development 94 5.2.2 TOWS Matrix of DHG 95 5.2.3 Strategy development of DHG in 2012 - 2015 97 5.3 Recommendations for implementing and controlling DHG’s strategies 105 CONCLUSION 107 REFERENCES .109 x REFERENCES English: David, F (1986), “The Strategic Planning Matrix – A Quantitative Approach”, Long Range Planning, Vol.19, No.5, p.102 Barney, J B (1999), “Looking inside for competitive advantage”, Academy of Management Executive, p.9 Business Monitor International (BMI) (Q42010), Vietnam Pharmaceuticals and Healthcare Industry Report: Including 5-year and 10-year industry forecasts by BMI Byars, L.L., Rue L.W and Zahza, S.A (1996), Strategic Management, Irvin Hitt, M.A., Ireland, R and Hoskisson, R.E (1999), Strategic Management: Competition and Globalization, South-Western College Publishing Hunger and Wheelen (2000), Essentials of Strategic Management, Prentice Hall Kumar, R (2005), Research Methodology: a step-by-step guide for beginners, SAGE Niven, P (2002), Balanced scorecard step-by-step: maximizing performance and maintaining results, John Wiley and Sons Porter, M.E (1980), Competitive strategy: techniques for analyzing industries and competitors, Free Press 10.Radder, L and Louw, L (1998), “The SPACE Matrix: A Tool for Calibrating Competition”, Long Range Planning, Vol.31, No.4, pp 549 11.Thompson, A.A and Strickland, A.J (1998), Strategic Management: Concept and Cases, Irwin/McGraw-Hill 12.Weihrich, H (1982), “The TOWS Matrix – A Tool for Situational Analysis”, Long-Range Planning, Volume 15, no.2, p.61 13.“The success story of Sun Pharma” 25/5/2007 Rediff India Abroad Retrieved from http://www.rediff.com/money/2007/may/25bspec.htm 109 14.“M&A of Sun Pharma” 30/12/2010 Retrieved from http://www.sunpharma.com/Acquisition.do Vietnamese: “Thị trường dược phẩm tăng trưởng 25%” 31/5/2010 Báo điện tử Thời báo Kinh tế Sài Gòn “Vietnam pharmaceutical market increases 25%” 31/5/2010 SaigonTimes Online Retrieved from http://www.thesaigontimes.vn/Home/kinhdoanh/thuongmai/35284/ “DHG đạt lợi nhuận gấp đôi kỳ” 1/12/2009 Báo điện tử Thời báo Kinh tế Việt Nam “DHG’s profit: twice as high as that of the last year period” 1/12/2009 Vneconomy Retrieved from http://vneconomy.vn/20091201051952243P19C9915/dhg-dat-loi-nhuangap-doi-cung-ky.htm “Thị trường dược chuyển động từ phía nhà đầu tư ngoại” “30/11/2010 Báo điện tử Thời báo Kinh tế Việt Nam Pharmaceutical market and moves of foreign investors” 30/11/2010 Vneconomy Retrieved from http://vneconomy.vn/201011300153616P0C19/thi-truong-duoc-vachuyen-dong-tu-phia-nha-dau-tu-ngoai.htm “SaViPharm cung ứng thuốc cho GlaxoSmithKline” 16/12/2010 Báo điện tử Thời báo Kinh tế Sài Gòn “SaViPharm manufactures medicine for GlaxoSmithKline” 16/12/2010 SaigonTimes Online Retrieved from http://www.thesaigontimes.vn/Home/kinhdoanh/thuongmai/45031/SaViPh arm-cung-ung-thuoc-cho-GlaxoSmithKline.html “Sản xuất thuốc phải nhập 90% nguyên liệu ” 27/7/2010 Báo điện tử Thanh Niên 110 “ Manufacturing medicine has to import 90% materials” 27/7/2010 ThanhNien Online Retrieved from http://www.thanhnien.com.vn/Pages/20100727/san-xuat-thuoc-phai-nhapkhau-90-nguyen-lieu.aspx “Hướng cho nguyên liệu dược” 25/10/2010 Báo Điện tử Nhịp Cầu Đầu tư “New direction for pharmaceutical materials” 25/10/2010 Nhip Cau Dau Tu Online Retrieved from http://www.nhipcaudautu.vn/article.aspx?id=6369 “Sản xuất nguyên liệu thuốc kháng sinh: Phập phù tìm đầu ra” 13/8/2010 Báo điện tử Sài Gòn Giải Phóng “Producing antibiotics materials: Difficult to find buyers” 13/8/2010.SGGP Online Retrieved from http://www.sggp.org.vn/thuoc/2010/8/234070/ “Quy hoạch phát triển ngành cơng nghiệp hóa dược đến năm 2015 tầm nhìn 2025” Cổng thơng tin điện tử Chính Phủ “Plans for the development of the pharmaceutical chemical industry till 2015 and vision until 2020 ” Vietnam Government Online Portal Retrieved from http://www.chinhphu.vn/portal/page?_pageid=578,33345598&_dad=portal &_schema=PORTAL&docid=87182 “Công nghiệp Dược Việt Nam – Bước khởi đầu gian nan” 27/2.2010 Báo Điện tử Tuổi Trẻ “Vietnam pharmaceutical industry – Difficult start” 27/2.2010 Tuoi tre Online Retrieved from http://tuoitre.vn/Tuoi-tre-cuoi-tuan/365682/Cong-nghiephoa-duoc-Viet-Nam-Buoc-khoi-dau-gian-nan.html 10.Bảng cáo bạch công bố thông tin (nếu có) cơng ty dược DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA 111 Prospectuses (if any) of pharmaceutical companies DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA 11.Báo cáo thường niên 2006 - 2009 (nếu có) cơng ty dược DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA Annual Reports 2006 – 2009 (if any) of pharmaceutical companies DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA 12.Báo cáo tài 2006 - 2009 (nếu có) cơng ty dược DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA Financial Reports 2006 - 2009 (if any) of pharmaceutical companies DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA Website Ho Chi Minh Securities Exchange website, www.hose.vn Hanoi Securities Exchange website, www.hnx.vn DHG website, www.dhgpharma.com.vn DVD website, www.viendongpharma.com.vn IMP website, www.imexpharm.com.vn DMC website, www.domesco.com.vn DBT website, www.bentrepharma.com.vn DCL website, www.cuulongpharma.com.vn DHT website, www.hataypharma.com.vn 10.OPC website, www.opc.com.vn 11.TRA website, www.traphaco.com.vn 12 Sanofi-Aventis Vietnam website, www.sanofi-aventis.com.vn 13 Pfizer website, www.pfizer.com 14 Novatis website, www.novatis.com 15 MSD Vietnam website, www.msd-vietnam.com 16.GSK Vietnam Website, www.gsk.com/worldwide/vn.htm 112 ... 28 2.5 Strategy formulation 29 2.6 Strategy implementation .30 2.6.1 Management issues 30 2.6.2 Tactical issues 34 2.7 Strategy evaluation and control... 5: STRATEGY DEVELOPMENT FOR DHG IN 2012 – 2015 93 5.1 Orientations and objectives of DHG in 2012-2015 .93 5.2 Strategy development for DHG 94 5.2.1 International experience on strategy... Vietnam pharmaceutical market 50 3.3.2 Prescription drug market forecast 51 3.3.3 OTC drug market forecast 51 3.3.4 Patented Drug Market Forecast 52 3.3.5 Generic drug market forecast