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ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN TIẾN DŨNG EVALUATION OF BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY ĐÁNH GIÁ CHIẾN LƯỢC KINH DOANH CỦA CÔNG TY CP SÔNG ĐÀ LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH HÀ NỘI - 2020 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH - NGUYỄN TIẾN DŨNG EVALUATION OF BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY ĐÁNH GIÁ CHIẾN LƯỢC KINH DOANH CỦA CÔNG TY CP SÔNG ĐÀ Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS.TS HỒNG ĐÌNH PHI HÀ NỘI - 2020 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 the laws for above-mentioned declaration i TABLE OF CONTENTS DECLARATION i LIST OF FIGURES v INTRODUCTION CHAPTER THEREOTICAL FOUNDATION OF BUSINESS STRATEGY 1.1 General theories of business strategy 1.1.1 Concept of Strategy, Business strategy 1.1.2 Characteristics of Business strategy 10 1.1.3 Role of Business strategy 11 1.1.4 Levels of strategy 12 1.2 Business strategy development process of the enterprise 15 1.2.1 Determination of the current business mission and goals of the company 16 1.2.2 Evaluation of the external environment of the enterprise 18 1.2.3 Internal environment analysis of the enterprise 24 1.2.4 Strategic plan development 28 1.2.5 Strategy implementation 30 1.2.6 Strategy inspection and analysis 31 Table 1.3 Overall business strategy evaluation matrix 32 CHAPTER EVALUATION OF THE EXISTING BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY 34 2.1 General introduction of the company 34 2.1.1 Overview 34 2.1.2 Establishment and development process 34 2.1.3 Main business lines 34 ii 2.1.4 Achievements 35 2.2 Overview of the existing strategy of Song Da Joint Stock Company 36 2.2.1 Business strategy options 38 2.2.2 Evaluation of strategy options 39 2.2.3 Business strategy selection 40 2.3 Evaluation of the existing strategy of Song Da Joint Stock Company 41 2.3.1 Evaluation of environmental change 41 2.3.2 Evaluation of the achievement of the goals of the existing strategy70 CONCLUSION OF CHAPTER 80 CHAPTER PROPOSED SOLUTIONS TO IMPROVE BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY 81 3.1 Vision, mission and development goals 81 3.1.1 Vision and mission 81 3.1.2 Goals of Song Da Joint Stock Company by 2020 81 3.2 Proposed solutions to improve business strategy of Song Da Joint Stock Company 84 3.2.1 Strategy Management and Planning Solution 84 3.2.2 Production management solutions 85 3.2.3 Marketing management solutions 87 3.2.4 Human resources management solutions 88 3.2.5 Financial management solutions 90 3.3 Proposal for Song Da Corporation: 92 CONCLUSION 93 iii LIST OF TABLES Table 1.1 SWOT Matrix–Strengths-Weaknesses-Opportunities-Threats 28 Table 1.2 Quantitative Strategic Planning Matrix – QSPM 29 Table 2.1 SWOT mode of the existing strategy of Song Da Joint Stock Company 36 Table 2.2 Evaluation of the change in external environment 46 Table 2.3 Change of competitive forces 56 Table 2.4: External factor evaluation matrix (EFE) of Song Da 57 Table 2.5 Typical hydropower plant and irrigation projects 59 Table 2.6 Civil works and industrial infrastructure projects 60 Table 2.7 Solar Power construction works 61 Table 2.8 Construction equipment for hydropower and irrigation projects 61 Table 2.9 Implementation capacity of the main construction volume 63 Table 2.10 The company‟s current human resource structure in latest years 64 Table 2.11 Analysis of labor use efficiency 66 Table 2.12 Production and business condition in the 2013 – 2017 period 66 Table 2.13: Internal Factor Evaluation Matrix 67 Table 2.14 IE maxtric 69 iv LIST OF FIGURES Figure 1.1 Business strategy development process of the enterprise 16 Figure 1.2 External environmental analysis model (business environment) 18 Figure 1.3 PESTEL macro-environment analysis model 20 Figure 1.4 Michael Porter‟s Five Forces Model 22 Figure 1.6 Business strategy evaluation matrix 32 Figure 2.1 Organizational chart of Song Da Joint Stock Company 58 v INTRODUCTION Rationale The company‟s current strategy is built for the 2014 – 2017 period and vision to 2020 In the context of changing the economy day by day, the internal and external factors have changed Meanwhile the studied and applied strategy of Song Da Joint Stock Company has revealed limitations and some goals have not been realized This fact has motivated the author who directly performs the leadership and management at Song Da Joint Stock Company, to study and re-evaluate the strategy after years of application; thereby finding out disadvantages and limitations and having solutions to overcome those existing limitations Therefore, the author chooses the topic: “EVALUATION OF BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY” as my master‟s thesis topic in Business Administration Literature Review The Strategy has always been an attractive topic for researchers, so in the world as well as Vietnam, many authors have chosen this topic as their direction On the side of Song Da Corporation and other member companies, there are also many research works on construction and strategic planning According to the author‟s research, these works are mainly at the level of the master‟s thesis topic Some topics known by the author are as follows:  Tran Dinh Vinh (2012); Business Strategy Planning for Song Da Joint Stock Company in the 2012-2015 period; Hanoi University of Science and Technology; Master‟s thesis  Bui Tuan Dung (2013); Building business strategy for Song Da Joint Stock Company in the 2013-2015 period; Water Resources University; Master‟s thesis As mentioned above, the strategy is a familiar topic Besides, Song Da Corporation and its member companies are considered a common research subject of many researches and dissertations However, the author has not found out any research on improving the strategy of Song Da Joint Stock Company quite apart from that fact that access to documents on the actual applied strategy of Song Da JSC is not simple Therefore, the author can confirm the novelty and practicality of his topic when he is a member of the strategy development team and directly plays an executive management role at Song Da Joint Stock Company Aims of the study Based the theoretical issues, the fundamentals of business strategy, how to set up and evaluate a business strategy, the author analyzes and evaluates the existing strategies of Song Da Joint Stock Company After that, the author analyzes the changes of the internal and external environment to see the nonconformity of the existing strategy Thereby, the author proposes a number of solutions to improve the strategy of Song Da Joint Stock Company Research object The research object is the existing business strategy of Song Da Joint Stock Company Research scope  Space: Song Da Joint Stock Company  Time: 2016 - 2018 Research methods Research topic is based on case studies, field observations, interviews and analysis In addition, the author also uses statistical, analytical and forecasting methods to analyze, evaluate and give strategic business directions of the company Regarding the data collection method, the author uses primary and secondary data sources, particularly:  Primary data: are collected through surveys, interviews with experts, leaders, employees and field surveys  Secondary data: are collected from the Company‟s departments, books, newspapers, magazines, specialized research articles Structure of the thesis In addition to the introduction and conclusion, the thesis is expected to be divided into chapters, namely:  Chapter Theoretical foundation of business strategy  Chapter Evaluation of the existing business strategy of Song Da Joint Stock Company  Chapter Some proposed solutions to improve business strategy of Song Da Joint Stock Company  Make investment in the application of information management technology for production management b Achievements: No Motorbike, equipment Unit 2017 Sold Purchased Total Evaluation 6-25T tower crane Pc 0 11 Pass 15-25T wheel-mounted crane Pc 0 Pass 30-50T wheel-mounted crane Pc 0 Pass 40-90m3/h concrete pump Pc 0 Pass Pc 0 Pass Unit 0 Pass 35-250m3/h concrete mixing plant Aggregate transportation conveyor CVC mortar truck 6-7m3 Pc 18 Pass 10-15T dump truck Pc 0 14 Pass Pc 0 Pass 33-200m3/h crushed stone and sand crushing plant, 10 2.5-3.0m3 wheel loaders Pc Pass 11 0.8-2.5m3 excavator Pc 0 Pass 12 160-180CV bulldozer Pc 0 Pass Pc 2 Pass Pc 2 Pass 13 14 Cast-in-place pile drilling rig, diameter up to 1.8m Hydraulic pile compressor 79 CONCLUSION OF CHAPTER Along with the analysis of changes in the internal and external environment and analysis of achieving the goals of the Company, the author built the “Overall business strategy evaluation matrix” according to the table below: Overall business strategy evaluation matrix No Are there major Are there Are the goals changes in the major changes of the external in the internal enterprise environment? environment? done? Yes Yes No Conclusion Take corrective actions (Source: Extracted from Table 1.3) Thus, in this chapter 2, the author has demonstrated that the current strategy of Song Da JSC needs to be taken corrective action to suite the changes of the internal and external environment and achieve its great goals 80 CHAPTER PROPOSED SOLUTIONS TO IMPROVE BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY 3.1 Vision, mission and development goals 3.1.1 Vision and mission  Vision To build Song Da Joint Stock Company to become one of the strong units of the leading group of Song Da Corporation; Capable of acting as the General Contractor, EPC General Contractor of industrial infrastructure projects  Mission:  For customers: Provide high quality products at reasonable prices with the application of modern technology and advanced management methods  For shareholders: Ensure the harmony of interests between the Company and shareholders, interest groups in the development process  For employees: Ensure a professional and friendly working environment with increasing income and fair development opportunities  For society: Accompany and actively participate in activities for the sake of community 3.1.2 Goals of Song Da Joint Stock Company by 2020  Goals by 2020  Become a strong, reputable and capable contractor in the segment of General Contractor and EPC General Contractor of industrial infrastructure projects  Focus on all resources, develop the industrial infrastructure construction market segment and strive to have enough capacity to be the EPC General Contractor of industrial infrastructure projects by 2020 81  Build and develop a business registration unit in Lao PDR to independently receive the bidding package or perform the bidding for construction projects in the Lao PDR  Make investment in construction technology equipment to meet the competitiveness, business planning tasks as well as development goals  Financial goals  Total construction revenue is about VND 900 billion/year by 2020, the average annual revenue growth is 10%, of which: - Revenue from construction and installation of industrial and civil infrastructure works is the main segment accounts for 50% of total revenue (equivalent to VND 450 billion/year) - Revenue from construction and installation of hydropower, irrigation and other construction works accounts for 45% of total revenue (equivalent to VND 400 billion/year)  Revenue from industrial production accounts for 05% of total revenue - Pre-tax earnings in 2020 is expected at 50.0 billion dong/year - Pre-tax profit margin is expected at above 5.5% - ROA is expected at above 5.5%  Non-financial goals The organizational structure, governance and management is aimed at the following goals:  Unify production and business units in the same field, the same project to have a larger scale and stronger capacity as well as reduce costs  Build an advanced management model: Enhance standardization of processes and regulations and promote the sharing of the best information The company agency will act as a bridge to communicate 82 and disseminate the best information as well as provide standard operating procedures throughout the Company  Improve the works and project management efficiency: Organize the units directly under the management of the Company in the direction of autonomous operation, expand the production scale and actively perform the tasks assigned by the Company to ensure the ability to perform new jobs with the increasing scale  Improve the quality of human resources: Qualified management staff with strategic vision, highly qualified professional staff and skilled technical workers  Apply advanced new construction technology to production: Make investment in purchasing new equipment with many features suitable to the Company‟s production line, contribute to reducing labor costs and improve labor productivity  Improve financial efficiency of the Company: Restructure capital to reduce financial costs; Reduce management costs and production costs  Market goals Domestic market:  Infrastructure of industrial parks, economic zones, export processing zones, hi-tech parks, cement, chemical and steel plants throughout the country In particular, continue to maintain a good relationship with IMI Vietnam Co., Ltd., Calofic Cai Lan to market the projects for expanding rare oil production plants and Cai Lan vegetable oil factory; At the same time, give priority to investment projects of Formosa Ha Tinh industrial park, infrastructure of Nghi Son economic zone, Vung Ang urban service industry complex, infrastructure of Hanoi‟s hi-tech parks 83  Irrigation and anti-climate change construction projects (ODA)  The domestic hydropower, irrigation works that the Investor has had relationships with the Company and other Investors: Hung Hai Construction Co., Ltd, GEC, JV Power, ED, Sudico, etc International market: Lao PDR: Hydropower projects invested by Song Da Corporation; Joint venture of Song Da JSC and other contractors to perform the work in line with the Company‟s capacity for industrial and irrigation infrastructure works 3.2 Proposed solutions to improve business strategy of Song Da Joint Stock Company 3.2.1 Strategy Management and Planning Solution At present, Song Da does not have a separate department for construction and strategy management The strategy development is assigned to the Economics -Planning Department and only a long-term plan of -10 years has been built However, the strategy management is not really concerned but only of the general non-specific nature Therefore, Song Da needs to set up a Department in charge of building and managing strategies according to the following processes: Situation analysis – Target identification - Implementation - Evaluation and control Management of situation analysis: In a market economy that is always changing, Song Da needs to regularly analyze the internal and external environmental factors, impact factors, strengths, weaknesses, opportunities and threats, etc to identify inadequacies in its strategy; thereby improving and supplementing it For this purpose, the company needs to recruit wellqualified, knowledgeable and competent human resources who are able to analyze the strategy Management of goal identification: Through the above situation analysis, the Company finds out its strengths, weaknesses, opportunities as 84 well as threats; thereby forming a medium and long-term strategy or taking measures to adjust strategies and plans appropriately to promote its strengths, make the most of opportunities and minimize threats for development Management of strategy implementation: The implementation is very important If a good strategy and plan is not properly implemented, it will not bring any results Therefore, Song Da Joint Stock Company should develop a program, process and budget to implement the strategy scientifically towards the implementation of its set goals Management of evaluation and control: In an ever-changing environment, the company‟s strategy is sometimes no longer appropriate, so it is necessary to check and evaluate whether its strategy is right or wrong to take timely corrective measures In addition, strategy control is also a measure to urge and remind all employees to focus their intellectual strengths on successfully implementing the proposed strategy of the company 3.2.2 Production management solutions Management of raw material supply: Unstable raw material prices and fluctuations of foreign currency exchange rate not only affect production and business plans but also reduce the business efficiency of Song Da JSC The capital collection and acceptance process was still slow, resulting in slow capital turnover, affecting the payment of materials The solution is that with a relatively large number of suppliers of Iron, Steel and Cement, in order to lower the product price, it is possible to negotiate to buy the cheapest raw materials On the other hand, Song Da JSC needs to make a budget plan to have a material purchase plan to meet production demands Good production management: means the lowest losses thanks to optimal wastage loss and minimized defective products through system administration Optimizing costs is 85 primarily through productivity management to reduce fixed costs per unit of product, which greatly determines the competitiveness and ability to win the bid Reduction of wastage rate of raw materials: The cost of raw materials includes cost of main materials (cement, iron, steel, bolts, earthing, porcelain and other electric materials, etc.) and cost for auxiliary materials (welding rods, etc.) At the company, the loss rate should be reduced to the lowest level but still ensure product quality through strict supervision and control measures according to the production and construction process in the field It is required to optimize transport equipment, backfilling, specific volumes for each concrete pouring of foundations and columns, etc Products must ensure the highest quality as well as minimize damages according to the following processes: the ISO 9001-2000 process: Product quality inspection; non-conformity product control procedures; preventive action procedures; corrective action procedures; the state acceptance process regarding the specialized construction works of electricity and water industry Labor cost: Organize production reasonably through the arrangement of production site, location of machinery and equipment, assembly lines; good preparation of materials and site to avoid labor waste; apply optimal construction methods; minimize unreasonable work in production By reducing labor costs, labor productivity shall increase and fixed costs per unit of product shall reduce Use of new technology: The Company needs to explore new construction technology solutions based on its available resources to increase labor productivity, reduce the construction equipment cost In recent years, the Company‟s Leadership has been very interested in this solution in reducing costs and increasing labor productivity It has been shown through the works that the company has constructed and are recognized and 86 appreciated by other customers Advanced construction solutions have saved costs for the Company over the past period 3.2.3 Marketing management solutions Market penetration: Song Da JSC applies a mixed marketing policy (with new advertising campaigns, promotion of the company; scaling up and strengthening of sales networks; etc.) to attract potential customers, expand market share, attract customers of competitors Song Da JSC will penetrate the urban transport infrastructure market of localities, pay attention to the local poor social policies where the Company is operating and dominate the relationship of people and local authorities Customer care: Song Da JSC‟s current products are always completed with the best quality, the fastest progress by highly-skilled employees through application of modern technology Song Da JSC conducts research on new technologies to improve quality and progress to satisfy customers‟ needs Song Da JSC always cares and listens to customers‟ opinions about products provided by the company even after many years of being completed and put into operation When there are technical situations to be handled but the warranty period has expired, the company is still enthusiastic about coordinating and supporting investors and customers in solving problems in a timely manner; thereby preserving its reputation Product development: With capital strengths in the field of construction and installation of electricity and water system, Song Da JSC is continuing to promote and expand markets in these areas in order to improve business value and product development Besides focusing on improving the quality of existing products, Song Da JSC needs to have marketing policies for bidding for large projects in the shortest time; regularly train and improve the capacity of marketing staffs to approach projects 87 3.2.4 Human resources management solutions In the 2018 – 2023 period, the Company needs to implement well some of the following solutions: Recruitment and training of human resources: To ensure a stable human resource for the Company‟s development strategy by 2023, Song Da JSC must always focus on recruitment to select skilled candidates with appropriate qualifications, rich experience, dedication, the same direction of development with the Board of Directors; accept pay high salaries to them to meet current needs and development goals and prepare for future strategies In addition, attention should be paid to the training of employees, especially the key staff to create human resources who are able to help the Board of Directors effectively deploy the Company‟s production and business activities In addition, Song Da JSC needs to have manpower reserve to compensate for fluctuations in human resources and meet the needs of expanding production and business Employee encouragement: If the recruitment is to select candidates with appropriate qualifications, training and development is to equip them with the necessary skills to serve the present and the future, the employee encouragement policy is a solution to maintain stable human resources to meet production and business needs Employee encouragement is expressed through financial and non-financial factors such as income distribution, discipline and reward regime and satisfaction with the working environment Currently, Song Da Joint Stock Company only meets the above goals at a lower level than that of other companies in the same industry Internal communication activities of the Company has not been good, guidelines and policies have not been disseminated to each employee, resulting in slow implementation On the other hand, the income distribution regime was not really fair, the reward and discipline regime was not 88 commensurate or not suitable for the right subject, so it does not encourage employees to maximize their capacity Therefore, Song Da needs to improve the remuneration regime in the following direction: Income distribution regime for employees: The top concern of employees is income, so to motivate employees, Song Da JSC needs to have a proper income distribution regime  The income of employees must increase year by year and ensure to offset the inflation of consumer goods and inflation in the market On the other hand, income paid by Song Da JSC must be higher than the average income of companies of the same size and industry to avoid brain drain and attract talent from competitors  The regulations on income distribution must be built based on the criteria of the employee‟s job performance, title, responsibility, etc in SD4 to ensure fairness and encourage employees to improve their sense of responsibility, self-discipline and maximize their capacities  Reasonable reward and discipline regime: includes rewarding individuals and collectives with good achievements and initiatives to benefit Song Da JSC Reward must be conducted by each event and evaluation period (quarterly, yearly, etc.) to motivate and encourage employees of the Company to promote their capacity at work At the same time, there should be sufficient disciplinary measures to deter and prevent actions that are detrimental to Song Da JSC  A professional working environment: The working environment is one of the important factors that determine the employee‟s attachment, productivity, quality and efficiency Besides the done activities such as going to work on time, sewing uniforms, fully equipped with equipment for work, building a spirit of solidarity among employees, the company needs to: 89  Arrange an open, clean, safe and scientific working space for employees to conveniently manipulate and improve their working efficiency  Build a friendly and close working atmosphere between leaders and employees, between departments and workers At the same time, create conditions for employees to exchange their thoughts and aspirations so that they may show their ideas in the most comfortable way and maximize their capacity  Build a healthy competitive working environment that creates motivation for development by improving the working capacity of each employee  Ensure employee benefits: The Company needs to pay attention to the employee benefits such as social insurance, health insurance, clear and transparent allowances and information to all employees who need to know, etc 3.2.5 Financial management solutions Although Song Da JSC‟s financial resources are relatively stable, it needs to build a relatively safe and stable financial structure between production and investment, which is the core factor for Song Da JSC to firmly overcome the most difficult period of the financial crisis and economic recession However, the Company needs to implement some following solutions to improve its financial capacity: Reducing the number of days in the cycle of accounts receivable and inventories:  Complete the regulations and instructions on the process of acceptance and payment of the completed work volume; make adjustment to suit each project; The professional Departments of the Company and the 90 direct construction units must regularly urge, inspect, control and gather sufficient and timely documents as prescribed; be interested in resolving working relationships with supervision consultants, design consultants and representatives of the investors in the field; promptly reflect the problems so that the Company‟s leaders will have solutions;  The handling procedures for additional volumes, price adjustments, at present, have many shortcomings in terms of construction mechanism However, the company needs to predict, forecast these figures, make recommendations to the investor soon and request the investor to work in a timely manner to avoid damages to the contractor Regarding the tasks of the relevant departments of the Company, it is necessary to promptly settle the design of additional construction drawings, prepare and submit the relevant cost estimates;  Improve the debt collection procedures: It is necessary to accurately perform the hand-over, acceptance and use and prepare payment documents to recover capital early Restructure capital and increase charter capital: Currently, the ratio of loans to total capital of the company is large and the Company is still using a relatively high level of financial leverage In the next phase, it is necessary to restructure the increase of the equity proportion to ensure the safety in payment process and increase financial autonomy Increase in charter capital: Song Da JSC is a listed company Therefore, the issuance of additional shares to increase charter capital is also more favorable To ensure the construction capacity is different from the competitors, Song Da JSC needs capital to invest more advanced technological equipment Increase in production and business efficiency creates conditions for supplementing owner‟s equity: 91  Improve the rules, sanctions on business management in general and the regime of production and equipment management assignment Carry out appropriate work assignment among departments, direct production department Implement the mechanism of urging, checking, controlling, reducing management costs and increasing profits well  Strengthen the management of assets and equipment; promote the efficiency and capacity of construction equipment Maintain equipment well to ensure high residual real value When the equipment is fully depreciated, it will be a big capital of the company The implementation of the construction equipment management and allocation regulations should be solved well; thereby strengthening the management system, checking the maintenance and using equipment from the company to the construction units; strictly perform maintenance, especially overhaul work 3.3 Proposal for Song Da Corporation:  Song Da Corporation authorizes the Board of Directors of Song Da Joint Stock Company based on the results of reviewing and evaluating strategy and actual situation of production and business to flexibly adjust and update short-term targets to achieve long-term strategic goals and ensure the interests of shareholders and the development of the Company  Assist the Company in marketing, bidding to find jobs, especially for industrial infrastructure projects in line with the main business line orientation of the Company  Assist the Company in access preferential loans so that the Company can restructure high interest loans 92 CONCLUSION The business strategy determines the success or failure of the enterprise The right strategy will help enterprises shape the goals and the steps in their operation However, if the company insists on following a predetermined strategy from the beginning, it will be easy to fall into the passive status with the times With the rapid changes of the economy in this booming era of the 4th industrial revolution, many strategies that have been right become wrong Therefore, the strategic evaluation after a period of application is urgent and important for all enterprises in all fields Song Da JSC has had a right business strategy and shows its efficiency in the application However, after a period of application, it is necessary to make adjustment to fit the times With a long enough time of working at the Company, the author may be entangled in an “experience trap”, looking at the problem with the eyes of an insider Therefore, through this thesis and with the guidance of Assoc Prof Dr Hoang Dinh Phi, I have had many tools and an objective view of what I have been doing Sincerely thanks, 93 ... VÀ KINH DOANH - NGUYỄN TIẾN DŨNG EVALUATION OF BUSINESS STRATEGY OF SONG DA JOINT STOCK COMPANY ĐÁNH GIÁ CHIẾN LƯỢC KINH DOANH CỦA CÔNG TY CP SÔNG ĐÀ Chuyên ngành: Quản trị kinh doanh. .. 34 2.1 General introduction of the company 34 2.1.1 Overview 34 2.1.2 Establishment and development process 34 2.1.3 Main business lines 34 ii 2.1 .4 Achievements... Business goals must show the following characteristics: specificity, consistency, measurability, feasibility, challenge and flexibility 17 1.2.2 Evaluation of the external environment of the enterprise