The modern business environment is changing day by day. Vietnam by far has been considered one of the fastest growing economies in the region and the country has been witnessing so many changes on its way towards a truly market economy. An important milestone in the way of global integration for Vietnam was marked when Vietnam joined WTO in October 2007. With this important event, a lot of opportunities and difficulties had been opened up for Vietnamese enterprises. So, it is time to come to the point of strategic thinking and making strategic choices. Strategic orientation and planning will help leaders of a company decide where their organization has to go, and whether they are going on the right direction or not. Leaders with a good strategy will make the company grow by grasping the opportunities and avoiding the threats that the environment brings to them. And in this case, Viet Nam Telephone Directory and Yellow Pages 1 Joint Stock Company (VNYP) also has to think about strategy for a new forwarding period. As a member of Vietnam Posts & Telecommunications Group, VNYP is the formal and biggest supplier of “Telephone Directory and Yellow Pages” in Vietnam during the last 17 years. After 17 years, the company has obtained many satisfactory achievements concerning portfolio of products and services as well as turnover and service quality. The trade name “Yellow Pages” has become familiar to almost everyone. However, in the new business environment which was discussed above, VNYP is facing with many difficulties including: - Decline in revenue from yellow pages in the past two years - Strong competition from Google and internet search engine optimizations - Low productivity and low performance quality - Increase of job resignation in the company In 2011-2015 periods, business environment continues to experience new and complicated happenings; domestic and foreign competition factors will have more effects on the economy. All these problems are concerning the company’s survival, growth and development. They are strategic issues. VNYP should carefully analyze the situation, formulate and choose appropriate, “the right” strategies for its survival and development in the coming period, to be along with the recovering trend of world economy. The thesis “VNYP – strategic choices for the period of 2010 - 2015” is coming in order to point out some main suggestions and recommendations to help meeting the requirement of those changes.