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ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - BUSINESS STRATEGY OF CONSTRUCTION COMMERCIAL ONE MEMBER LIMITED LIABILITY BANK STAGE 2018 – 2022 Ạ Đ Ạ XÂY LUẬ Ă – 2022 Ạ SĨ Q ẢN TRỊ KINH DOANH Ộ - 2018 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - BUSINESS STRATEGY OF CONSTRUCTION COMMERCIAL ONE MEMBER LIMITED LIABILITY BANK STAGE 2018 – 2022 Ạ Đ Ạ – 2022 Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬ Ờ Ă Ạ SĨ Q ẢN TRỊ KINH DOANH ỚNG DẪN KHOA HỌC: PGS.TS NGUY Ộ - 2018 Ọ NG DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration Date………………………… i ACKNOWLEDGEMENT To be able to complete the Master of Business Administration MBA with the subject "Business Strategy of Vietnam Construction Commercial Joint Stock Bank for the period 2018 - 2022" is the result of the continuous effort of and help and encouragement of teachers, friends, colleagues and relatives Through this article I would like to thank the people who helped me during the study - recent scientific research I would like to express my deep respect and gratitude to Professor Nguyen Ngoc Thang for his direct guidance as well as providing necessary information material for this dissertation Sincerely thank the leaders of Hanoi National University, Faculty of Business Administration has made it possible for me to successfully complete my dissertation Finally, I would like to express my sincere thanks to my colleagues and work units who have helped me in the process of studying and doing Thesis Hà Nội, ngày … tháng … năm 2018 Học viên Nguyễn Minh Công ii Contents DECLARATION i ACKNOWLEDGEMENT ii LIST OF TABLES vii LIST OF FIGURES vi INTRODUCTION 1 Rationale of choosing research topic Previous studies 3 Research objectives Object of the study 5 Scope of the study 6 Research methodology Structure of the study CHAPTER 1: LITERATURE REVIEW 1.1 The definition of business strategy 1.2 The definition of business strategic planning 10 1.3 The business strategic planning process 11 1.4 Tools used in business strategic planning 16 1.4.1 SWOT matrix .16 1.4.2 Porter’s Five Forces Model .17 1.4.3 PEST analysis 19 1.4.4 Value chain analysis 21 1.5 Related literatures .23 CHAPTER 2: OVERVIEW OF CBBANK 25 2.1 The foundation and the development of CBBANK 25 2.2 CBBANK’s products and services 26 2.2.1 Savings service 26 2.2.2 Lending service 26 2.3 Organization structure of CBBANK 28 2.4 Business performance of CBBANK 29 2.5 Current strategy of CBBANK 30 CHAPTER 3: THE BASIS FOR NEW BUSINESS STRATEGIES FORMULATION OF CBBANK 36 iii 3.1 Evaluation of primary activities 36 3.1.1 Operations 36 3.1.2 Marketing and sales 37 3.1.3 Services 38 3.2 Evaluation of support activities 38 3.2.1 Infrastructure and technology .38 3.2.2 Human resource management .39 3.2.3 Procurement .39 3.2.4 Risk management .40 3.3 External analysis .40 3.3.1 PEST analysis 40 3.3.2 Porter’s Five Forces analysis 48 3.4 IFE analysis 50 3.5 EFE analysis .52 3.6 SWOT analysis 52 CHAPTER 4: PROPOSING NEW LONG TERM STRATEGIES FOR CBBANK 54 4.1 Proposed business objectives, goals and missions .54 4.2 Proposed new long term strategies 54 4.3 Discussion of chosen strategies 57 4.3.1 Strategy 1: To introduce product bundle and credit card in banking products and services 57 4.3.2 Strategy 2: To conduct marketing communication to the customers 58 4.3.3 Strategy 3: To invest into high technologies in core banking and big data 58 4.3.4 Strategy 4: To renovate HRM activities with best practices 59 4.3.5 Strategy 5: To expand coverage network in other areas of Vietnam 59 4.3.6 Strategy 6: To strengthen risk management activities 59 4.4 Focus business strategies during 2018-2022 61 CONCLUSION AND RECOMMENDATION 65 Conclusion 65 Recommendation 66 REFERENCES 69 APPENDIX: SURVEY OF QUESTIONNAIRE .73 iv LIST OF TABLES Table 1: SWOT Analysis Matrix 17 Table 2: The history of development of CBBANK 25 Table 3: Lending services of CBBANK 27 Table 4: Business performance of CBBANK from 2008 to 2010, VND billion 29 Table 5: Frequency analysis 32 Table 6: Mean value analysis 33 Table 7: IFE analysis 51 Table 8: EFE analysis 52 Table 9: SWOT Matrix 53 v LIST OF FIGURES Figure 1: Porter’s Generic Strategies Figure 2: Business Strategy Process by Hax & Widle II (2003) 12 Figure 3: Business Strategy Process by Chetthamrongchai (2009) 13 Figure 4: Business Strategy Process by Grunig and Kuhn (2010) 14 Figure 5: Porter’s Five Forces Model .18 Figure 6: PEST Model 20 Figure 7: Value Chain Model 22 Figure 8: CBBANK’s Organization Structure 28 Figure 9: Average processing time of CBBANK, in comparison with other banks 37 Figure 10: Vietnam’s Political Stability Index 41 Figure 11: Vietnam’s GDP growth rate and inflation rate 42 Figure 12: Registered Capital of FDI in Vietnam, US$ billions 43 Figure 13: FDI inflows to Vietnam by Country, % 44 Figure 14: Vietnam’s GDP per capita growth rate 45 Figure 15: Framework of proposing long term strategies .55 Figure 16: Framework of risk management in CBBANK .60 vi INTRODUCTION Rationale of choosing research topic Recently, Vietnam banking industry has met the high growth rate of which the total saving amount and total lending amount have been anticipated at annual growth rate of 13% and 10% respectively In more detail, the customer loan is estimated to grow from VND2,475 trillion to VND5,149 trillion while the customer deposit is anticipated to grow from VND2,209 trillion to VND3,975 trillion in the period of 2010-2017 (Business Monitor International, 2017) Among the overall banking businesses, retail banking service is determined as primary source for banks’ profitability in the long run (Kalra, 2012) The evidence is that Vietnam’s population is more than 86 million of people with the GDP per capita has been increasing on yearly basis, now is more than US$1,500 Vietnam retail banking market is also considered the fertilize land for card business development as Cimigo (2009) reports that the future attention of the individual consumers to debit and credit card shall be upward from 23% and 1% of debit and credit card ownership in 2009 to 24% and 7% in the years to come Another evidence for the development of retail banking market in Vietnam is through the frequency of ATM using Nielsen (2017) indicates that Vietnamese individual consumers are now utilizing the ATM service offered by both of local and foreign commercial banks at the frequency rate of 9% for once a week, 50% for 2-3 times a months, 37% for once a month, and 4% for once every 2-3 months; and those frequency rate has been becoming shorter Although retail banking service is blooming in Vietnam, the local banks are still facing several problems The first problem is that local banks are now competing fiercely with each other due to there are about 35 joint stock commercial banks and state-owned banks in Vietnam (Kalra, 2012) Furthermore, it is worth to indicate the potential threat from foreign banks who are considering Vietnam banking as high potential growth market and they are more toward Vietnam banking market with high investment and diversified products Furthermore, Vietnam banking market is now being dominated by state-owned banks that have advantages of high capital density and the support from Vietnam government Vietcombank Securities (2017) reports state-owned banks dominate both of deposit and lending market with the shares of 47.7% and 49.3% respectively Joint stock commercial banks, however, only consume for 43.4% and 37.1% of the deposit and lending market share Additionally, Kalra (2012) asserts that the individual customers attempt to choose the banks who are not only provide attractive interest rate but also have better customer services According to State Bank of Vietnam, Vietnamese local banking system now has 05 State-owned banks, 35 joint stock commercial banks In addition, this market is also covered by joint-venture banks and foreign banks’ branches The listed problems in the previous section (e.g low liquidity, shortage capital adequacy ratio and higher bad debt outstanding) are the result of unsustainable business model The business models of Vietnamese commercial banks are rated as unsustainable growth expectation and non-core/non-centralized businesses Furthermore, the future development of the Vietnam banks is put under questionable as the increase of the competition in the banking market When Vietnam joined in WTO, Vietnam has to open the financial market as the WTO rule for trade liberalization Thus, the entry for the foreign bank will be more visible In the author’s opinion, the foreign banks have the advantage of higher technology and more diversified product with higher quality compared to the domestic banks To cope up with the new situation, the commercial banks have to formulate the business strategies with the planning for long term vision (i.e years) However, during the time of working for CBBANK, the author has identified that the bank has only established the business strategies for short term (3 years) but there is no specific business strategic planning for long term business strategies In addition, the tools for formulating the business strategies are not sufficient as the bank only focused on the external environment but internal environment Therefore, the author believes that the current business strategies of CBBANK are not reliable and the author proposes to redefine the business strategies of CBBANK in long term vision role of monitoring the operations in bank wide level Internal Audit should review the operations of each functional units in the bank at least once per year and all issues are captured and reported directly to Board of Director 4.4 Focus business strategies during 2018-2022 Among business strategies, the researcher chooses business strategies that are relevant to the bank, including (1) To renovate HRM activities with best practices and (2) To strengthen risk management activities To renovate HRM activities with best practices In near future, CBBANK tries to complete four key tasks assigned by the bank’s top management board and motivate officers and employees to participate in training class so that they can improve their professional skills contributing to effectiveness of branch’s operation For the application of information technology in operation, the branch plan to implement various activities such electronic data storage; preparing for computerization project of managing work systems, training program, managing wage and labor Because of economic crisis, CBBANK will continue downsizing to ensure the wage and compensation policies in favor of employees and Agribank’s operation After overcoming economic crisis, the branch will recruit more staff based on the demand of each department Therefore, CBBANK will keep the number of employees at proper level until 2022 After that, CBBANK will recruit one position to fill in a vacancy because of retirement and try to increase the number of employees to proper level by the end of 2022 to meet the target capital per employee of branch Moreover, CBBANK also try to be independent of SBV and Vietcombank in recruitment and selection activities to make decision itself Although the banking sector is considered to have better pay for employees than other sectors, due to the economic crisis and bad debt problems, the operation of the banking sector in the period of 2018 – 2022 has deal with many difficulties Thus, the general trend of the banks is the reduction in the salary of employees compared to the 61 previous time In fact, according to Head of human resource department, the employees of Agribank just receive 70% of total salary that they should be paid To improve the Pay factor, the bank should implement the following solutions: Firstly, the bank should build wage policy based on employee performance Due to the difference in the work of different positions, the bank can set up the standards of quality assessment for each specific position Salary based on performance is done through establishing the ranking system for calculating salaries and bonuses staffs receive The standards should be specific with detailed measurement criteria and employees can control it Moreover, the bank should guarantee income for newcomers in particular and workers in general so that they have feeling of motivation and continue to work Thus, the bank is required to adjust the wage policies, labor allowance under the average inflation rate to ensure so that real wages are not lower than the increase in goods prices and services in the market Thirdly, the bank needs to ensure the equity of remuneration policies, bonus among employees and fair opportunities for all of them The level of bonus paid depends on the contribution of the employees and is standardized with specific criteria in order to evaluate it As the employees work in different positions, characteristics of work are different, so the evaluation of performance is also different The bank needs to rebuild the assessment of the nature of work of each section and the regulation of the standard It helps to determine the level of difficulty of each position to set the appropriate coefficients for each position The construction of this system must be based on customer research and analysis of specific work, which are established and done by experienced experts with appropriate capacity Equity of compensation does not mean that the same position or the people in the same department should receive equal amount of pay, rather compensation given to employees in the same department should be the same if they generate the same results or produce the same performance Last but not least, salary, bonus or commission of employees should be paid on time Despite of the legal provisions (the Labor Code), in reality, businesses tend to pay 62 later than regulated Whether workers have less complaints or lawsuits on this issue but the bank also needs to comply with the law and ensure the payment of salary, bonus on time The commission for high volume of sale also needs to be given to employees on time so that they can feel their contribution matter This will motivate and create better incentives for employees at work Once the bank improves its pay structure, it can not only retain the current workforce, but also attract more potential candidates who appreciate a stable compensation scheme To strengthen risk management activities The bank should develop clear framework and checklist for underwriting activities The appropriate credit risk management culture can be achieved through key points The board of director and board of management have the adequate involvement in the credit risk management process For example, the board of management has the responsibility of approving all the highest level of credit risk management policies such as risk appetite, risk statement and risk management framework The credit risk management policies should be reviewed annually in line with the business performance of BIDV For example, if the organization has new business strategy on developing the loans, there is also adequate policies and measurements must be developed to ensure the credit risk is controlled BIDV should have in place a system for the ongoing administration of their various credit risk-bearing portfolios The organization should also ensure IT strategy project has close interaction and coordination with Credit Risk Management project to align functional and data requirements The requirements of the Credit Risk Policy and credit risk measurement techniques as they are progressively upgraded This may include, for example, standardizing scorecard assessment within loan origination system, facility rating review, tracking of arrears, measuring default etc To ensure risk-managed lines of business, Early Warning System (EWS) should be developed These models can be based on binominal discrete-dependent-variable models can be subject to post-default bias This bias arises when no distinction is 63 made between each period, when economic fundamentals are largely sound and sustainable The experts said that EWS model should be a multinomial logistic model, which allow distinguishing between default and non-default state Once the EWS is developed and general results are derived, the policy-makers can make an optimal choice based on the degree of risk or risk conservative level Collection strategy optimization is the next revolution in credit decision It is an objective, mathematical decision techniques that is becoming widely used in the credit risk management environment The highest purpose of these things is to answer the question, what is the best set of actions to assign to customers to maximize recoveries within the operational and financial constraints Strategy Optimization has the potential to determine the best action to simultaneously: Maximize recoveries; Retain customers over the medium term; Operate within the existing budget and resource constraints; and Identify which customers to focus on It is not just the best action, but also the best timing 64 CONCLUSION AND RECOMMENDATION Conclusion This study is developed with the objectives of (1) To get in-depth understanding about business strategies of commercial banks, (2) To analyze external market situation in case of Vietnam banking industry, (3) To analyze internal situation of primary and support activities of CBBANK, (4) To provide SWOT analysis for CBBANK, (5) To determine business strategies for CBBANK upon on SWOT analysis, and (6) To provide recommendations to guide how CBBANK can implement selected business strategies The first objective is obtained through chapters, including Introduction and Literature Review In Introduction Chapter, some empirical evidences of business strategies of commercial banks are collected and examined accordingly The researchers collect empirical evidences from Alves et al (2012), Chen (1999), Leichtfus et al (2010), Lowth et al (2010), and Roengpitya et al (2014) These studies provide general understanding about how business strategies in the banks today Moreover, Literature Review Chapter provides the concept of business strategy, business strategic planning and its process, and tools which are being utilized in business strategic planning formulation Some literatures reviews are also explored during this chapter The second and the third objective is obtained through the third chapter At first, internal analysis is conducted with the exploration of the foundation and the development of CBBANK as well as the bank’s current products and services Current organization structure of the bank is mentioned and how the business performances as well primary and secondary activities of the bank External analysis is conducted with the application of PEST analysis and Porter’s Five Forces Model After internal and external analysis, the researcher provides a SWOT matrix with clear identification of internal strengths and weaknesses and external opportunities and threats On the other hand, the fourth research objective is fulfilled accordingly 65 SWOT matrix is considered as key strategic toolbox for the researcher to determine business strategies of CBBANK, including Strategy 1: To introduce product bundle and credit card in banking products and services, Strategy 2: To conduct marketing communication to the customers, Strategy 3: To invest into high technologies in core banking and big data, Strategy 4: To renovate HRM activities with best practices, Strategy 5: To expand coverage network in other areas of Vietnam, and Strategy 6: To strengthen risk management The last research objective is to provide recommendation to guide the bank on the implementation of selected business strategies This research objective is fulfilled through the second section of this chapter Recommendation To help CBBANK adjust their retail products and services to be more customers centric, the author firstly recommends that the bank should build the customer insight data that facilitates for retail products and services development with the characteristics and functionalities directly link to the customers’ demands It means that CBBANK should invest in Business Intelligent Tool in order to help the bank demonstrating the profitability in each customer segment and each product and service category In this context, the negative profitability in particular customer segment or product/service category is highlighted in decision making process of conducting adjustments or dropping The second recommendation is that CBBANK should find different ways to segment its customers For example, the bank is now segmenting its customers by income and deposit but it is also segmented by market geographies or customer jobs .The clear customer segmentation shall help the bank to priorities its investments, and focusing on those operations that directly impact to chosen customer segments When the bank has clear customer segments, it can characterize the products and services in line with these segments 66 The third recommendation is about the improvement of messaging and branding Although CBBANK is now focusing on relative high income and above average income customers, the bank cannot communicates with the market that it is only focusing on those customers as this action shall create the negative perception to other customer segments In this context, CBBANK can adopt several distinct brands and the bank can use these brands to actively manage different customer segments The fourth recommendation is to establish more promotion programs as it is not scoped for credit card product but also extended to other products For example, the bank should learn other banks providing promotion programs for depositors and online banking customers The depositors should be received the opportunities of travelling abroad when they retain their deposits in CBBANK and online banking customers should be discounted on their online payment The fifth recommendation is that bank should establish consistent corporate culture for its employees when they are offering the bank’s products and services to the customers The corporate culture consists of the essential role of top management in encouraging their employees to achieve the objective set by the bank as well as increasing the customer satisfaction To that the top management of CBBANK can conduct the management by walking directly to each sale unit in the transaction office to monitor how the employees deliver the banking products and services to the customers and by providing required resources for them to accomplish assigned tasks The top management also establishes incentives and reward mechanism that the employees who are determined as the best customer forwarding attitude shall be received extra bonuses beside the basic salaries Other activity which helps to better formulate customer centric is training Indeed, when the employees of CBBANK are received well-training programs, they shall have adequate skills for delivering and supporting their customers better Furthermore, the training should cover the following sessions: How to communicate well with the customers, How to maintain the relationship with existing customers, and How to 67 explain the characteristics of CBBANK’s products and services in simple way for the customers to understand To further improve that, the involvement of top management in the business strategic planning process is very important and affect directly to the success of the banks in the future Hence, the author recommends the managers should:  Participate in every step in business strategic planning process  Meeting with the units in-charge in each step to understand the status of business strategic planning and to solve the potential problems  Establish the well communication with stakeholder and investors in order to introduce the new business strategies The business strategic planning requires the company’s managers have high expertise and experience in setting up business strategies However, the business strategic planning is quite new in Vietnam Thus, the author recommends CBBANK should hire strategic consultancy for business strategy formulation and implementation The bank can set up the project and to ask some foreign consultants bidding for this project Base on the proposal of each vendor, the bank can decide what best strategic consultant with acceptable fee The author recommends CBBANK should establish the effective communication between responsible parties or stakeholders as follow:  Documentation on each step of the business strategic planning  Having the communication campaign through emails to all employees in VPB and let them know about the values of new business strategies  The communication campaign should be expanded to the public to help the investors know about the new business strategies of the company  Establishment of internal round table to discuss and to solve the problems arise during the business strategic planning process 68 REFERENCES Amadeo, K (2017) What is retail banking? Types and economics impact [https://www.thebalance.com/what-is-retail-banking-3305885] ASEAN Briefing (2017) Cambodia’s FDI Outlook for 2017: Understanding the challenges and opportunities ahead [https://www.aseanbriefing.com/news/2017/03/07/cambodia-fdi-2017.html] Asian Development Bank (2018) Vietnam: Economy Online [https://www.adb.org/countries/viet-nam/economy] AT Kearney (2014) Going Digital: The Banking Transformation Roadmap [https://www.atkearney.com/documents/10192/5264096/Going+Digital++The+Banking+Transformation+Road+Map.pdf/60705e64-94bc-44e8-9417652ab318b233] Australian Government (2018) ICT to Vietnam Online [https://www.austrade.gov.au/australian/export/exportmarkets/countries/vietnam/industries/ICT] Bao, T T., Bernice, O., and Scott, W (2015) Vietnam banking industry report [http://www.duxtonam.com/wp-content/uploads/2015/01/Vietnam-BankingReport_2015.pdf] Besanko, D., Dranove, D., Shanley, M., and Schaefer, S (2004) Economics of Strategy Wiley & Sons, Inc Biinform (2017) Vietnam bank card report 2017 Online Retrieved from [https://biinform.com/Reports/F5E-vietnam-bank-card-report-2017-.html] Cameron, R., Ginsburg, H., Westhoff, M., and Mendez, R V (2012) Ajzen’s theory of planned behavior and social media use by college students American Journal of Psychological Research, 8(1), pp.1-20 69 Chan, S (2017) FDI up 25% [http://www.khmertimeskh.com/news/34577/fdi-up-25/] Chetthamrongchai, P (2009) Developing Marketing Strategies and Plans Marketing Management Chheng, V., and Wong, Y (2012) Cambodia-Laos-Vietnam: Economic reform and regional integration Cambodian Institute for Cooperation and Peace [http://www.aseancenter.org.tw/upload/files/201209073-1.pdf] CIMIGO (2017) Vietnam consumer trends 2018 Online [http://www.cimigo.com/vi/research-report/vietnam-consumer-market-researchtrends-2017] Clark, T., Dick, A., Hirtle, B., Stiroh, K J., and Williams, R (2007) The role of retail banking in the U.S banking industry: Risk, return, and industry structure [https://www.newyorkfed.org/medialibrary/media/research/epr/07v13n3/0712hirt.pdf] Credit Suisse (2017) Vietnam banks sector Online [http://www.iberglobal.com/files/2017-2/vietnam_banca.pdf] Danielsen, R (2017) Vietnam SEB Merchant Banking – Country Risk Analysis Online [https://sebgroup.com/siteassets/large_corporates_and_institutions/prospectuses_and_ downloads/country_analysis/asia/2017/2017-04-vietnam.pdf] Export.Gov (2017) Vietnam – Banking systems Online [https://www.export.gov/article?id=Vietnam-Banking-Systems] Global Edge (2018) Cambodia: Trade Statistics [https://globaledge.msu.edu/countries/cambodia/tradestats] Grunig, R and Kuhn, R (2011), Process-based Strategic Planning – 6th edition, Springer, Berlin and Heidelberg 70 Hall, W.K (1980) Survival Strategies in a Hostile Environment Harvard Business Review, (September-October), 75-85 Hax, A C and Widle II., D L (2003) The Delta Model – A New Framework of Strategy Journal of Strategic Management Education, 1(1), 1-21 Hofer, C.W and Schendel, D (1978) Strategy Formulation: Analytical Concepts St Paul, MN: West Publishing Horsky, D and P Nelson (1993) New Brand Positioning and Pricing in an Oligopolistic Market”, Marketing Science 11(2), 133-153 Mintzberg, H (1994) The Fall and Rise of Strategic Planning The Free Press, New York Moore Group (2016) Vietnam Digital Landscape Report Observed online at < https://www.slideshare.net/tinhanhvy/vietnam-digital-landscape-2015> Park, S Y (2009) An analysis of the Technology Acceptance Model in understanding university students’ behavioral intention to use e-learning Educational Technology & Society, 12(3), pp.150-162 Phuong, T (2017) Moody’s: Cambodia and Vietnam have strong growth prospects [http://english.thesaigontimes.vn/55624/Moody%E2%80%99s-Cambodia-andVietnam-have-strong-growth-prospects.html] Porter, M.E (1980), Competitive Strategy, Free Press, New York Sonia, B., Vinayak, HV., and Heidi, Y (2015) Digital Banking in ASEAN: Increasing Consumer Sophistication and Openness McKinsey & Company [https://www.mckinsey.com/~/media/mckinsey/business%20functions/mckinsey%20d igital/pdf/digital%20banking%20in%20asean%20(4).ashx] Statista (2018) Number of Internet users in Vietnam from 2015 to 2022 (in million) Online [https://www.statista.com/statistics/369732/internet-users-vietnam/] 71 The Asian Banker (2017) Vietnamese banks are playing a risky game [http://www.theasianbanker.com/updates-and-articles/vietnamese-banks-are-playinga-risky-game-in-retail-financial-services] The Global Economy (2018) Vietnam: Political Stability Online [https://www.theglobaleconomy.com/Vietnam/wb_political_stability/] The World Bank (2018) Vietnam Online [http://datatopics.worldbank.org/financialinclusion/country/vietnam] The World Bank (2018) Vietnam Online [https://data.worldbank.org/country/vietnam] Transparency International (2017) Vietnam Online [https://www.transparency.org/country/VNM] U.S International Trade Administration (2017) Vietnam – Banking systems [https://www.export.gov/article?id=Vietnam-Banking-Systems] Vietcombank Securities (2016) Banking report 2017 Online [https://www.vcbs.com.vn/en/Communication/GetReport?reportId=4830] Vietnam News (2018) Vietnam, Cambodia’s bilateral trade surged 30% in 2017 [http://vietnamnews.vn/economy/422484/viet-nam-cambodias-bilateral-trade-surged30-in-2017.html#hVT0qMpvq9JQrrdL.97] Wang, S., and Kapfer, C (2017) Vietnam banks are playing a risky game The Asian Banker [http://www.theasianbanker.com/updates-and-articles/vietnamese-banks-areplaying-a-risky-game-in-retail-financial-services] 72 APPENDIX: SURVEY OF QUESTIONNAIRE I am a student in a university in Vietnam My thesis’s topic is about Business Strategies of CBBANK My thesis requires a data and therefore I develop this questionnaire to collect your opinion about how the bank is constructing and implementing business strategies Your answers are valuable to me and I commit that all your personal information is safe and the results from the survey of questionnaire are not used for any commercial purposes If you have any questions, please contact me through: ……………………………… Part I: Demographic Information Gender  Male  Female Age  Less than 30  31-35  36-40  More than 40 Education  Master/PhD  University  Below Monthly Income  Less than 5VNDm  5-10VNDm  More than 10VNDm 73 Part II: Your evaluation Please provide your attitude towards following statement using a scale: 1-Strongly disagree, 2-Disagree, 3-Neutral, 4-Agree, 5-Strongly agree Content Current business strategy at CBBANK is effective and reliable The company has long term mission aiming rather than short term mission The mission covers the main business context of the company The mission is set based on strength and weakness of the company The mission is introduced and communicated in detail with functional unit within the company Primary activities are evaluated before conducting business strategy Support activities are evaluated before conducting business strategy Business strategy comes up with prediction of future economic in Vietnam Business strategy comes up with evaluation of competitive environment Top managers involve into formulation strategy Business strategy is chosen carefully Formulation strategy comes up with very detail steps The company establishes the mechanism to capture all feedbacks of functional units related to business strategy formulation 74 Timeline is validated and controlled tightly Periodic and ad-hoc meeting are established to review implementation process The company has owned team to take the responsibility of business strategy implementation The company establishes monthly meeting to review implementation process Issues during implementation process is welladdressed and acknowledged by top managers 75 ... KHOA QUẢN TRỊ VÀ KINH DOANH - BUSINESS STRATEGY OF CONSTRUCTION COMMERCIAL ONE MEMBER LIMITED LIABILITY BANK STAGE 2018 – 2022 Ạ Đ Ạ – 2022 Chuyên ngành: Quản trị kinh doanh Mã số: 60... of Vietnam in 2016 is stood at 0.17 It is concluded that Vietnam does not have stable political situation In addition, politics situation of Vietnam is reflected through another index, namely... According to Asian Development Bank (2018) , GDP growth rate of Vietnam is improved significantly during 2014 -2018? ??s period During this period, GDP growth rate of Vietnam is surged to 6.7% per annum

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