MỤC LỤC
Basis of strategy at business level is established from the combination of products, market and competence of the enterprise to gain competitive advantage compared with its opponents. - Focus making strategy: is a strategy aiming at introducing products and services meeting requirements of a special group of customers or a special part of market which has adequate scale, good potential for development and non-decisive to the success of other opponents.
In which, investment capital of private sector and individuals accounts for 31.2% of the investment capital on whole society, state’s investment capital (including investment from state’s budget, government’s bond, investment budget according to State’s plan and investment from state’s enterprises) is 22.5%, an increase of 4.7% in comparison. However, seeing from the positive dimension of this issue together with population scale of Vietnam of 84 million people, most of the population is at working age, the potential of finance – banking services market is still great, especially when living standard and income of population become more improved. An other factor need to be cared for is that financial capacity of economic organizations and individuals still are weak, although education level of Vietnam has been improved, in comparison to integration requirements it is still limited, awareness of banking system of many people are still vague, together with the habit of using cash, leading the demand of the economy for banking services are still limited and operation of banking operation has lots of risks.
- Innovation viewpoints of the Party and State about economy, liberalization commerce – investment and equitisation of state’s enterprise (especially equitisation of State’s commercial banks) during past time create favorable conditions for Vietnam’s commercial bank system to intensify financial capacity, improve transparency in the operation, being active in integration and application of international practice in banking sector. - Law on State’s bank will be adjusted after the implementation of the project of establishment of modern Central Bank (some important contents in Announcement No 191 – TB/TW of the Ministry of Politics about goals, solutions for the development of Banking sector by 2010, vision to 2020). • During the integration process, Tien Phong Bank must accept strong influence of the world’s financial market, especially in interest and rate of exchange, requiring Tien Phong bank to intensify the flexibility in operation, business skills and reform management model for the purpose of profit and safety.
The banking products provided in the market have been diversified and including more applications of high tech such as ATM, mobile banking, e-banking,…Most banks have been paid attention to improving the quality of customer services: supporting or consulting for customers with a professional serving style, branch name marketing (mass media, newspaper, television and events) and taking part in social activities. Besides the direct rival such as the joint stock commercial banks above, we have to include a lot of potential rivals which also have had relatively rapid development in the last few years and have hold a firm market share, such as foreign banks and banks which have just been established.
Globalization and the international economic
The legal document in finance and banking is more
The population scope and population structure is
The information technology has been
The TPBank’s IT system includes the official system and the backup system, The data are often updated at the same time, ensure that the backup system still works when the official system gets into trouble and the backup system can ensure transaction normally 2.3.1.4 Network. Tien Phong Bank always reforms and build up policies in order to attract the talents encourages and recruits the applicants in other fields, suitable for the need of development, create the new developing impetus in the current competition of human resources. Tien Phong Bank has many activities to advertise its image and trade mark through marketing its products and services such as possible rewarding saving, gold egg nest saving, insurance bank…However, marketing activities are not professional and effectiveness is not high; it has still not established master plans in marketing.
+ Capital mobilization product group: 5 capital mobilization products have been performed, namely deposit in which its interest is calculated based on balance, possible to reward saving, issuing short term note, long term certificate of deposit, and capital increasing bond. +Product group based on modern technology: E-banking service has been implemented in Ho Chi Minh and Hanoi City and up coming time it will be expanded nationwide, message sending service to ask for information about account and information about interest rate, rate of exchange…have been implemented in all branches. + In addition, there is also a product group which has been paid attention to and strongly developed which is the group of products having expansion implementation, upgrading performance and utility based on available products such as electricity payment for EVN, bilateral payment for State’s Coffer.
Consolidate and increase share on the current market is carried out through solutions like: improve products and services to always have new points; expand sales network; reduce input expenses for more competitive output price; adjust advertisement and promotion strategies; develop communication strategies for customers to trust in TPBank products and services; develop sales strategies. TPBank takes full advantage of its prestige and registered brand name, technology to penetrate into new markets with a view of effectively make the most of opportunities from the home market’s potential that TPBank hasn’t exploited as well as reaching out of foreign markets. TPBank performs this strategy in order to deal with challenges, competition from rivals, under this strategy TPBank should focus on supplying, supporting all-in products and services for large customers – target customers – VIP ones to do business effectively, have a sustainable development strategy; and wait in front for the need of small and medium dynamic enterprises, state-owned enterprises which were privatized and ran effectively.
Be aware of the role of technology, TPBank continues to invest and upgrade server system, IT infrastructure, step up developing technical software, IT advanced applications into business operations in order to bring TPBank to become a high IT bank with the aim of diversifying products, improving productivity, quality and efficiency of banking services. Through above analysis, we see the strategy of differentiate the products has attractive score of 161, strategy of developing new products has attractive level of 177, thus both these strategies are very important for TPBank, in short term, TPBank should focus on promoting the differentiation of the products to enhance and increase the market share in current market. Moreover, QSPM matrix of group ST shows the process of market penetration needs to be supporting by the strategy of product differentiation by developing stronger the useful products, services for the customers and implementing the new products to create the differentiation.
Increase chartered capital: supplement from the founding shareholder; increase committed capital with the State Bank of Vietnam; collect the liabilities from group 2 Provision fund for the finance: Fund for investing and developing the professional skills, capital of level 1 will be increased remarkably when TPBank re-evaluates the fixed assets and the invested securities and issues the bonds to increase the capital Make soundly the finance: continue to use provision fund for the risk to stop the liabilities without the capacity of collection. Thirdly: Implement completely, supplement and manage seriously the credit file, necessary to issues the specific regulations about the archive, preservation and management of credit file, really consider the credit file as one of the important assets of the bank, as the foundation to affirm the ownership of the bank for the asset. The banking service at home is the promising service in Vietnam, in order to implement this service, the computers of the customers will connect with the system of TPBank and transactions will be through this service network, very favorable for the retail market of the bank.
Secondly: Continue to develop, complete and build the payment technology and banking information; complete and develop the payment technology of TPBank under concentrative payment model of each system, connecting the payment system of TPBank with the customers and TPBank with other banks.\. Diversify and improve the service quality of capital mobilization, combine with development of the service of investment credit, payment without using the cash, the service of the account and management of the assets basing on the principle of sharing the risks and profits among the customers and TPBank. Establish the professional unit about the analysis of the competitors; this unit has the task to help management of the bank to have the reasonable decisions basing on the clues of collecting the information, evaluation opinions, forecast about the main competitors.
Sixthly: in decisions of lending for the customers, it is necessary to forecast the socio- economic environment factors influencing on business production activity such as inflation, politics, exchange rate…. Build the system of modern financial information, ensure the bank’s system to operate effectively, safely, easy to supervise, and make a program of integration in Internet to update the financial, monetary information in the world. Enhance the international cooperation relationship to open the banking relationships and take advantage of capital resources, technology from countries and international organization, information exchange about the banking field, especially about training, introducing the knowledge and integration experience for the officials related to the State Bank of Vietnam and some commercial joint stock banks.
The investment strategies of TPBank define right orientation such as technological renovation of the bank, renovation of management… to improve the competitiveness. Therefore, the result of the TPBank system which has achieved in last years is high growth rate about monetary business, productivity, effective quality, improving financial capacity to create the prerequisite step in developing the system of TPBank towards building the multi- functional financial group and international integration. In the process of implementing the solutions, because of continuous changes of the business environment, TPBank needs frequently to evaluate, examine to have the suitable adjustments.