Development strategy for petro capital and infrastructureinvestment joint stock company (petroland) in the period of 2011 - 2015

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Development strategy for petro capital and infrastructureinvestment joint stock company (petroland) in the period of 2011 - 2015

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Capstone Project Report GLOBAL ADVANCED MASTER OF BUSINESS ADMINISTRATION CAPSTONE PROJECT REPORT DEVELOPMENT STRATEGY FOR PETRO CAPITAL AND INFRASTRUCTURE INVESTMENT JOINT STOCK COMPANY (PETROLAND) IN THE PERIOD OF 2011 2015 Class : GaMBA01.C0609 Implemented by : Group No.6 Member : Bui Minh Chinh Nguyen Thien Loi Nguyen Van Quan Dang Thi Tam Ho Thi Thanh Thao Nguyen Duy Thinh Nguyen Van Tuan HCM CITY - 2011 ~ 1 ~    Capstone Project Report ACKNOWLEDGEMENT After two years of learning and researching, with experience in working with many lecturers, classmate, and with the objective of highest grasp of knowledge, our group has gained various useful knowledge those we can used in our work We would like to send our gratitude to all the lecturers those have devotedly given us with useful knowledge, company’s management for their best condition provided to us to complete our graduation assignment Best wishes are sent to Petroland Representative Bui Minh Chinh ~ 2 ~    Capstone Project Report Table of contents Acknowledgement Table of contents List of tables List of figures, graphs Introduction Chapter Theoretical basis on business strategy and real estate business strategy 1.1 Definition, planning and implementation of strategy 1.1.1 Definition 1.1.2 Strategy planning and implementation 1.1.3 Some matrices commonly used in strategy planning 1.1.3.1 External factor evaluation Matrix - EFE 1.1.3.2 Internal factor evaluation Matrix - IFE 1.1.3.3 Competitive picture Matrix - CPM 1.1.3.4 SWOT Matrix 1.1.3.5 SPACE Matrix 10 1.1.3.6 QSPM Matrix 10 1.2 Model of five competitive forces of Michael Porter 10 1.3 Overview about real estate business in Vietnam 12 1.3.1 Office for lease market 12 1.3.2 Housing market 13 1.3.3 Trade center market 14 1.3.4 Tourism real estate market 14 1.3.5 Competition in real estate market 15 1.4 Necessity to make business strategy of Petroland 15 ~ 3 ~    Capstone Project Report Chapter Introduction about Petroland and current state of its production and business 16 2.1 Introduction about the Company 16 2.1.1 Establishment and development 16 2.1.2 Organizational structure 18 2.2 Overview about business activities of the Company 19 2.2.1 Business results of the Company 19 2.2.2 Situation of project implementation 21 2.3 Analysis of external environment 24 2.3.1 Macro environment 24 2.3.1.1 Economic environment 24 2.3.1.2 Political environment, policies and law 26 2.3.1.3 Socio-cultural environment 28 2.3.1.4 Technological environment 29 2.3.2 Micro economy 29 (1) Competitors 29 (2) Customers 31 (3) Supplier 33 (4) Alternative products 35 (5) Barrier from penetration into sector 36 2.3.3 Matrix of external factor evaluation – EFE 37 2.4 Analysis of internal environment 39 2.4.1 Financial capacity 39 2.4.2 Business capacity 39 2.4.3 Leading capacity 41 2.4.4 Human resources management 42 2.4.5 Marketing 43 ~ 4 ~    Capstone Project Report 2.4.6 Matrix of internal factor evaluation – IFE 44 2.5 Analysis of matrices to strategically planning 46 2.5.1 Competitive Picture Matrix 46 2.5.2 SPACE Matrix 47 2.5.3 SWOT Matrix 48 2.5.4 QSPM Matrix 50 2.5.4.1 Market expansion strategy and business diversification strategy 50 2.5.4.2 Low expense strategy and product difference-making strategy 52 Chapter Planning business strategy and solutions for Petroland 54 3.1 Planning Strategy 54 3.1.1 Forecasting the demand of Real Estate Market 54 3.1.2 Petroland’s mission and vision towards 2025 57 3.1.3 Overall and specific objectives of Petroland in the period of 2011-2015 57 3.1.3.1 The objectives of the projects 58 3.1.3.2 Targets for revenue and profit 73 3.1.4 Targeted market and customers 74 3.1.5 Selecting prior strategies 75 3.1.6 Competitive strategy 76 3.2 Strategy implementation solutions 78 3.2.1 Measures to implement strategy 78 3.2.2 Strategy organization, implementation and recommendations 89 3.2.2.1 Strategy organization, implementation of Petroland in 2011 – 2015 89 3.2.2.2 Recommendations to the State 90 Conclusion 93 Sources 94 Appendix 96 ~ 5 ~    Capstone Project Report List of tables   Table 2.1 Some basis financial data of Petroland 19 Table 2.2 Some financial ratios of Petroland 19 Table 3.1.The objective of revenue, profits and dividends in the period of 2011–2015 73 Table 3.2 Apartment area and number of bed rooms that customer need 81 Financial statements of Petroland in 2008, 2009, and 2010 96   List of figures, graphs   Figure 1.1 Model of five competitive forces of Michael Porter 11 Figure 2.1 Organization Chart of Petroland 18 Figure 2.2 GDP Per Capita in VietNam in the period of 2000-2010 25 Figure 2.3 Image of strategy (SPACE matrix) 48                   ~ 6 ~    Capstone Project Report INTRODUCTION “If we understand our situation and the competitors, we can always win victory; otherwise, defeat is a certain result” Sun Tzu A company, an organization, an individual, a family that desires to gain success in a final objective is required to identify a road Market is like a battlefield, especially for every company with responsibility to shareholders and employees Therefore, all companies should develop a proper business strategy as the basis for their business operation in current time and future Business is like fighting "Sometimes it is as rapid as wind; sometimes as slow as forest; sometimes aggressive as fire but sometimes as defensive as mountain” Therefore, we must know how to orient, grasp the change, predict possible variations and changes in the market; how to satisfy customers, keep loyal customers All such issues are contained in the business strategy of the company With the hope that our assignment can be applied in practice, we would like to develop the assignment “Development strategy for Petroland in period of 2011-2015” This is the first research conducted by us; therefore, there maybe some shortcomings So we hope that the university and Company’s management board will give us constructive ideas for our improvement Representative Bui Minh Chinh ~ 7 ~    Capstone Project Report Chapter Theoretical basis on business strategy and real estate business strategy 1.1 Definition, planning and implementation of strategy 1.1.1 Definition According to Fred R David, “Strategy is a series of the complicated action plans to mobilize the resource of an organization to achieve a specific objective Business strategy may consist of development in geography, activity diversification, capitalization, product development, market penetration, spending cut-down, liquidation, and joint venture”.(1) 1.1.2 Strategy planning and implementation(1) The strategy management is comprised of 03 stages: + Strategy establishment is a process of establishing the business tasks; carrying out the research to determine the internal and external limitations; setting long-term objectives; and selecting alternative strategies and typical strategies for pursuit + Strategy implementation requires company to establish the annual objectives, proposal of policies, encouragement of personnel and distribution of resources to implement the established strategy Implementation of strategy is comprised to development of a culture to support strategy in the establishment of effective structure, orientation of activities, preparation of funds, development and use of information system, encouragement of personnel’s operation + Strategy evaluation will monitor the comment on results of established activities and strategy implementation including the measurement of personal and organizational achievements, and the actions to be adjusted (1) Fred R David, translators: Truong Cong Minh, Tran Tuan Thac, Tran Thi Tuong Nhu (2006), Concepts of Strategic Management, Statistics Publisher, Ha Noi city, VietNam ~ 8 ~    Capstone Project Report 1.1.3 Some matrices commonly used in strategy planning(1) 1.1.3.1 External factor evaluation Matrix - EFE EFE matrix is often used for assessment of external factors to enable strategists to summarize and evaluate economic, social, cultural, demographical, geographical, political, governmental, legal, technological and competitive information Therefore, strategists can summarize the main opportunities and risks of external environment affecting the operation of the enterprises in order to evaluate the response with such opportunities and risks by the enterprise and determine if external factors impose positive or negative impacts on the company 1.1.3.2 Internal factor evaluation Matrix - IFE Internal factor evaluation (IFE) matrix is a strategic management tool for auditing or evaluating major strengths and weaknesses in functional areas of a business IFE matrix also provides a basis for identifying and evaluating relationships among those areas The IFE matrix is used in to use and promote strengths and find the solution to mitigate the weakness 1.1.3.3 Competitive picture Matrix - CPM Competitive picture matrix is an essential strategic management tool to compare the firm with the major competitors of the industry based on the factors affecting competitiveness of the company in the industry This help to provide the managers with clear picture to the firm about their strong points and weak points relative to their competitors; identify the competitive advantage of the company and the weakness to be overcome 1.1.3.4 SWOT Matrix Strengths – Weaknesses – Opportunities – Threats matrix, SWOT provides a the company to understand its weakness in business Therefore, company can manage (1) Fred R David, translators: Truong Cong Minh, Tran Tuan Thac, Tran Thi Tuong Nhu (2006), Concepts of Strategic Management, Statistics Publisher, Ha Noi city, VietNam ~ 9 ~    Capstone Project Report and eliminate risks those are not aware by the company In addition, by using comparison tool, and SWOT analysis between companies and competitors, company can draft a strategy to distinguish company with the rivals, which facilitates company to compete effectiveness in the market 1.1.3.5 SPACE Matrix SPACE matrix helps company to identify the what strategy is the most suitable with the company among aggressive, conservative, defensive, competitive The axis of SPACE matrix represents two internal aspects of the organization (Financial strength (FS) and competitive advantage (CA) and two external factors including environmental stability and industry strength These four factors are the most important factors deciding the strategic position of the organization 1.1.3.6 QSPM Matrix The Quantitative Strategic Planning Matrix is a strategic tool which is used to evaluate alternative set of strategies QSPM identifies the attractiveness of various strategies by making use of or improving key external and internal successful factors A QSPM matrix may consist of any quantity of strategies However, only strategies in a specific group must be evaluated together For example, a group of strategies may include backwards combination strategy, upwards combination strategy, and associating combination strategy, while another group of strategies may include the issue of share and sale of an unit of company to increase a necessary capital These two groups of strategies are completely different and QSPM only evaluates the strategies in their group 1.2 Model of five competitive forces of Michael Porter (2) According to Michael Porter, a leading strategy and competition planner, competition intensity of the market of any production sector is under the impact of forces as follows: ~ 10 ~    Capstone Project Report least two leading staffs with good management skills and good jobs in fierce competition in every unit, department of the Company Recruit some employees who have worked for foreign real estate companies For staffs doing professional works in combination with hiring experienced and young, enthusiastic, creative and ambitious personnel Ensure that all units and departments in the Company have good technicians understanding culture - society, psychology of customers and have a high spirit of cooperation Develop staffs whose vision and management ability are good Combine training in schools in various forms such as study tours and job rotation Perfect salary system and bonuses to attract and keep good employees Pay appropriate salary and bonus to those who have contributed much to business results of the Company Combine multiple forms of reward Emphasize stock awards to encourage staffs to make efforts for overall business results of the Company Develop network of "collaborators" who are experts and experienced and skillful people to invite them to cooperate with Petroland These people may work part time or follow each project of Petroland Experts or experienced people in project management can contribute to helping the Company expand the business when human resources of Petroland are still limited (9) Enhancement of marketing effectiveness Build a marketing strategy for Petroland Design specific marketing program for each product: Advanced apartments, average apartments, real estate management and real estate services as well as other products Study carefully and select forms of advertisement so as to be appropriate to each type of product or psychological characteristics of each target customer group Combine measures to promote and attract customers Advertise on television, radio, panels, website, weekend newspapers, Real Estate Journal, House patterns and online advertising Identify the Company’s products and give easy remembered messages ~ 87 ~    Capstone Project Report Investigate, study market to understand needs and preferences of customers Held many different forms to collect customer comments Seriously analyze asset information about needs, interests and opinions of customers Opinions of the majority of customers must be studied thoroughly to improve quality of products/services and enhance customer satisfaction To enhance customer care Give customers necessary instructions regarding its product Help customers solve quickly relevant procedures, documents Consult customers about interior layout and other issues that customers need Support customers and offer attractive promotions First, offer payment terms in phases and extend time between payment terms, contributing to reduce financial pressure for customers Second, work with banks to assist clients to borrow money to buy apartments Third, launch product to market in many phases, each selling only a limited amount of apartments In addition, the Company offers promotion program such as discounts to customers who bought the first apartment, etc Petroland can choose a famous partner and associates offer award of a villa/apartment of the Company (10) Build Petroland brand name Building a brand will help bring a sustainable competitiveness and sustainability in future Brand is only sustainable if the enterprise focuses on customer satisfaction, chooses quality and prestige as the first or leading factor Petroland identifies clearly that qualified and professional product/service supply is the foundation for brand development Here are some specific measures to develop brand - Choose a reputable contractor Petroland focuses on selecting partners of planning, design, construction, etc who are prestige and meets international quality for urban projects, commercial center - office buildings - apartments This is the prerequisite to bring high quality products to market - Encourage customers to participate in product fabrication process Find customers and sell products from initial construction stage Let customers to involve in process ~ 88 ~    Capstone Project Report of finalizing and arranging interior to better meet needs of each individual customer Actively advise clients on interior layout - To provide professional after sales services Provide real estate management service and customer care operations to improve customer satisfaction - Advertise Brand Petroland Use a combination of many advertising forms Emphasize Public Relation in brand advertisement (Charity, events, etc.) 3.2.2 Strategy organization, implementation and recommendations 3.2.2.1 Strategy organization, implementation of Petroland in 2011 – 2015 The development strategy of Petroland in the period of 2011 – 2015 is to give main orientations In order to implement this strategy, the following specific steps will be implemented: - Disseminate development strategy to all managers of the units and functional departments The goal is to help people understand thoroughly the strategy and commit to implement the strategy Organize discussion widely about it to clarify requirements and tasks for each unit or department - Identify barriers and measures to overcome barriers Clearly identify barriers and risks in the process of implementing the strategy Develop solutions to prevent risks and overcome these barriers - Allocate resources Allocate resources (capital, people, etc.) for implementation of the Company in the period of 2011 - 2015 - Prepare annual operating plan Annual plan is to concretize objectives and strategy set out Petroland will make specific operation plans for each year based on development strategy from 2011 to 2015 - Set up an action plan Each unit, function departments should base on annual strategy and plans to build a specific action plan to their units All action plans should be consistent and towards implementing the set strategy In addition, based on development strategy of Petroland in the period of 2011 - 2015, function departments ~ 89 ~    Capstone Project Report will build functional strategies (human resource strategy, financial strategy, marketing strategy, etc.) for the Company 3.2.2.2 Recommendations to the State(18) According to Association of Real estate, Ho Chi Minh city, the government should implement some following solutions to develop real estate sector: • General solutions (1) Continue renovating and improving policies and legislation on housing and related sectors in line with socialist oriented market economy development policies; the State directly involves in orientation role, support, regulation and maximum capital mobilization from all economic sectors taking part in housing development and real estate market of housing (2) The housing planning shall take one step forward; housing development must comply with planning approved by authorized agencies and legal documents; promote housing development due to the project in urban areas to build residential areas with technical infrastructure and social infrastructure consistent with approved urban planning, including priority of implementing housing development projects, large urban zone projects to create new synchronous residential areas (3) Amend land policies towards simplifying administrative procedures, shortening implementation time of housing projects in particular in stages of land acquisition, compensation, land clearance; adjust land price and collect land use fee to reduce land prices in house price structure in line with income conditions of various citizen; use land policies to support and regulate housing market especially houses for low-income people (4) Complement and complete financial and tax policies related to housing market to expand capital mobilization capacity of economic sectors and society involving in housing development; creating legal corridor to develop ~ 90 ~    Capstone Project Report non-bank institutions such as trust fund for real estate, housing investment fund, housing savings fund to open capital sources for investment in housing development; use taxation as a tool to regulate market, promote use house effectively and limit speculation (5) Continue to supplement and perfect the market economic institutions in of housing while issuing appropriate policies of house promotion and support for each subject who is difficult in improving living places, ensuring social welfare; The State actively participates in establishing social housing fund for rent; supporting the rural poor households improve their housing conditions; upholding its roles in orientation, macro-regulation and control of housing market fluctuation (6) Encourage and support technology research, transfer and application, new, modern building materials, in housing development; and encourage development of construction materials, types of housing using natural energy for energy consumption of households; encourage research and development of green houses, ecological houses, smart houses, organic houses (7) Enhance and strengthen management of the State in housing sector, pushing up administrative procedure reform in construction of houses; consolidate and enhance capability of apparatus of the State management agencies, consulting organizations and enterprises engaged in house development and management Build adequate, reliable, transparent information system which is easy to access as a tool to manage and oriented housing market to develop stably, wealthily • Solution group of completing mechanism, policies related to houses The modification of mechanism and policies is to create consistency and simplification of administrative procedures, shortening implementation time of housing development projects between housing legislation with normative legal documents particularly laws on land and investment ~ 91 ~    Capstone Project Report (1) Land law and enforcement guideline documents - Regulation on simplifying procedures, procedures of land allocation, land lease to set up investment projects on housing construction; - Regulation on permitting application form of leasing land for housing construction, especially construction of houses for rent; specifically regulation on land acquisition on two roadsides in site clearance for building transportation road so as to conduct an auction of land use right to regulate difference in tax of land where the State invested in infrastructure (2) Housing law and enforcement guideline documents Only select investors for housing development projects through auction or project bidding, for the appointment of investors, it is only applied in some special cases in accordance with regulations of the Government (3) Real estate business law and enforcement guideline documents Comply to pay via bank in housing transactions to manage and limit risks to people, offer a mechanism to encourage transaction of people done through real estate transaction center (such as favor of transfer tax, registration fees, creating favorable conditions for ownership certification procedures to buyers who purchase houses at real estate transaction center (4) Investment law and enforcement guideline documents - Personal income tax: Regulate to reduce the personal income tax when selling a house to limit tax losses for the State, applying higher personal income tax rate if the individual or individuals purchase housing short time (1-2 years) - In term of VAT and business income tax: Regulate to reduce tax rate for housing construction projects for social subjects (low-income people, workers in industrial areas, students in universities and colleges) ~ 92 ~    Capstone Project Report CONCLUSION To devise a strategy which is good and appropriate with actual application, our team with Board of Management of Petroland has studied and proposes basic strategies to orient the development of Petroland That strategies are: Low – cost strategy: Give priority to the investment and development of housing for people of medium income Market – expansion strategy: Investigate and promote real estate projects in southern cities and provinces The strategies are basically appropriate with capability and strengths of Petroland With view to becoming a leading enterprise in real estate in Ho Chi Minh city, Petroland decides to implement the business strategy as given ~ 93 ~    Capstone Project Report SOURCES (1) Fred R David, translators: Truong Cong Minh, Tran Tuan Thac, Tran Thi Tuong Nhu (2006), Concepts of Strategic Management, Statistics Publisher, Ha Noi city, VietNam (2) http://nqcenter.wordpress.com/2008/04/22/mo-hinh-5-ap-luc-canh-tranh-michaelporter/ (3) Tran Tien Khai (2011), Real Estate Principle, Society Labour Publisher, Ho Chi Minh city, Viet Nam (4) Many authors (2010), Viet Nam Real Estate Business, youth Publisher, Ho Chi Minh city, Viet Nam (5) http://www.khaidat.com.vn/nguon-cung-tang-van-phong-cho-thue-gap-kho-793 (6) http://vnexpress.net/gl/kinh-doanh/bat-dong-san/2011/04/thi-truong-nha-thunhap-trung-binh-nhieu-tiem-nang/ (7) http://dddn.com.vn/20110322043924849cat173/cho-thue-trung-tam-thuong-maimieng-banh-khong-de-xoi.htm; and http://vietbao.vn/Kinh-te/Cho-thue-trung- tam-thuong-mai-dat-hang/10936751/87/ (8) http://vnbusiness.vn/articles/bất-động-sản-du-lịch-và-nghỉ-dưỡng-bắt-đầu-ấmlên (9) http://www.ceco507.com.vn/Nam-2011gia-bat-dong-san-se-canh-tranh-quyetliet-newsview.aspx?cate=108&id=167 (10) http://cafef.vn/ (11) http://www.cophieu68.com/companylist2.php?stcid=1 (12) Internal Documents of Petroland (2010), Ho Chi Minh city, VietNam (13) http://vnexpress.net/gl/kinh-doanh/2010/12/3ba24d1c/ (14) http://cafef.vn/20101007083613951CA33/tphcm-gdp-binh-quan-dau-nguoi-nam2010-uoc-2800-usd-bang-168-lan-nam-2005.chn ~ 94 ~    Capstone Project Report (15) http://vi.wikipedia.org/wiki/Thành_phố_Hồ_Chí_Minh (16) http://www.tinkinhte.com/viet-nam/phan-tich-du-bao/wb-viet-nam-se-tangtruong-trong-giai-doan-20112013.nd5-dt.143607.113121.html (17) http://www.saigonhouses.com/print_preview.php?rq=cms&cmsID=5290 (18) Documents for workshop of Housing development strategy towards 2020 and Vision towards 2030, which was organized by Association of Real estate, Ho Chi Minh City on 4th March, 2011 This documents was supplied by Petroland (19) http://nhavang24h.vn/noi-dung/bat-dong-san-du-lich-co-hoi-mo-cho-nha-dau-tutiem-luc (20) http://www.hids.hochiminhcity.gov.vn/xemtin.asp?idcha=4649&cap=4&id=4651 and http://www.diaoconline.vn/tinchitiet/58/25054/kinh-doanh-bat-dong-sanphai-khac-biet-moi-thang/ (21) http://www.msb.com.vn/g-tin-tuc-su-kien/b-tai-chinh-ngan-hang/tong-quan-kinhte-viet-nam-nam-2010-va-trien-vong-nam-2011/ (22) Lecture slide: Strategic Management of Griggs University (23) Lecture slide: Strategic Management of Dr Hoang Lam Tinh, The University of Economics, Ho Chi Minh city (24) http://www.petroland.com.vn (25) http://www.vanphathung.com (26) http://www.khangdien.com.vn (27) http://www.thuduchouse.com ~ 95 ~    Capstone Project Report APPENDIX Financial statements of Petroland in 2008, 2009, and 2010(12) Balance Sheet Asset A Working asset and shortterm investment I Cash and cash equivalents cash Cash equivalent II Short-term financial investments Short-term investment securities III Short-term receivables Trade receivables Prepayments to suppliers Other receivables IV Inventories Inventories V Other current assets Short-term prepaid expenses VAT to be reclaimed Other current assests B Long -term assets I Fixed assets Tangible fixed asset - Cost - Accumulated depreciation (*) Intangible fixed asset - Cost Cost of basic construction in progress II Real Estate Investment - Cost 2008 2009 2010 618,700,185,851 706,693,128,841 1,601,398,030,962 190,574,573,936 201,794,435,381 249,370,284,462 5,374,573,936 9,494,435,381 10,870,284,462 185,200,000,000 192,300,000,000 238,500,000,000 285,000,000,000 50,000,000,000 10,000,000,000 285,000,000,000 50,000,000,000 10,000,000,000 117,933,936,364 30,190,551,673 949,319,760,835 11,893,865,497 538,134,373,499 91,892,050,000 15,502,734,509 4,568,645,320 26,041,886,364 2,793,951,667 406,616,742,016 1,049,994,985 390,191,897,810 358,022,133,070 1,049,994,985 390,191,897,810 358,022,133,070 24,141,680,566 34,516,243,977 34,685,852,595 124,025,850 185,549,977 22,874,541,986 20,039,606,816 3,978,047,900 370,422,735,490 32,704,086,798 1,626,607,202 384,922,687,321 11,402,384,648 408,925,961 741,837,055,555 323,917,735,490 171,315,497,783 301,484,171,936 6,049,033,509 6,094,253,797 32,337,998,200 6,695,417,202 7,858,499,069 36,709,209,919 (646,383,693) (1,764,245,272) (4,371,211,719) - 1,024,000,000 73,994,097,639 1,024,000,000 73,994,097,639 317,868,701,981 164,197,243,986 195,152,076,097 - - 54,316,283,441 54,530,921,417 ~ 96 ~    Capstone Project Report - Accumulated depreciation (*) III Long-term financial investments Investment in subsidiaries Investment in joint venture, associated company Other long-term investment IV Other long-term assets Long term prepaid costs Other long term assets Total Assest (214,637,976) 46,350,000,000 212,805,000,000 384,962,520,000 157,325,000,000 358,712,520,000 40,480,000,000 - 46,350,000,000 15,000,000,000 26,250,000,000 155,000,000 802,189,538 1,074,080,178 221,890,640 155,000,000 802,189,538 852,189,538 989,122,921,341 1,091,615,816,162 2,343,235,086,517 2008 Source of capital 22,719,973,289 A Payable debts 22,719,973,289 I Short-term debts Short term loans and debts 3,410,168,527 Payable to the sellers 1,255,000,000 Prepaid by the buyers Taxes and the items payables 7,644,598,652 to the Government Payable to the employers Payable costs 10,853,306,110 Other payable costs (443,100,000) Reward and welfare Fund II Long-term debts Other long term payables Long term loans and debts B Total Equity of 966,402,948,052 shareholders I Equity of the Shareholders 966,402,948,052 937,620,000,000 Paid-in capital Development and investment Fund Financial provision Fund Other fund 28,782,948,052 Unappropriated profits Total Capital 2010 105,442,903,614 1,123,553,997,003 105,093,903,614 790,633,031,520 341,500,000,000 7,032,147,705 194,196,508,571 71,576,416,579 4,024,779,640 2,906,680,918 51,716,557,896 1,826,316,978 3,027,530,000 122,091,445,196 20,864,749,234 74,076,210,217 887,592,200 349,000,000 332,920,965,483 349,000,000 1,299,180,987 331,621,784,496 986,172,912,548 1,219,681,089,514 986,172,912,548 1,219,681,089,514 937,620,000,000 1,000,000,000,000 1,439,147,403 2,077,326,587 1,439,147,403 2,077,326,587 45,674,617,742 215,526,436,340 989,122,921,341 1,091,615,816,162 2,343,235,086,517 ~ 97 ~    2009 Capstone Project Report Resutl from business operation Items Revenue from sales and service provision Deductions Net revenue from sales and service provision Cost of goods sold Gross profit from sales and service provision Financial revenue Financial expenses - Including: interest expense sales expenses Management expenses 10 Net operating profit 11 Other income 2008 2009 1,172,443,332 47,687,568,864 18 Earning per share (EPS) 1,172,443,332 47,687,568,864 934,600,026,640 1,172,443,332 35,675,177,969 702,925,535,006 - 12,012,390,895 231,674,491,634 64,943,838,422 35,294,208,507 33,969,466,288 3,780,683,602 590,958,904 7,732,185,458 - 7,732,185,458 457,470,720 1,975,162,079 20,789,282,525 19,439,243,973 24,366,402,261 40,373,872,295 26,818,925,805 231,570,208,124 8,000,000 20,740,543 1,072,116,346 72,622,471 111,619,932 8,000,000 (51,881,928) 960,496,414 40,381,872,295 26,767,043,877 232,530,704,538 11,348,924,243 2,679,637,173 59,487,990,020 - - 29,032,948,052 310 24,087,406,704 257         ~ 98 ~    946,220,540,076 11,620,513,436 12 Other expenses 13 Other profit 14 Total profit before tax 15 Corporate income tax – current 16 Cost on deferred business tax 17 Profits after business income tax 2010 173,042,714,518 1,730 Capstone Project Report Cash Flow statement Items 2008 2009 2010 I Cash flow from the business activities Before tax profit 40,381,872,295 26,767,043,877 232,530,704,538 Adjustment for items - Fixed asset depreciation 646,383,693 1,164,769,394 2,821,604,423 - Profit from investments (64,943,838,422) (34,641,627,132) (32,369,973,269) - Loan interest cost 3,780,683,602 7,732,185,458 Profit from business operation before change of working capital (20,134,898,832) (6,709,813,861) 210,714,521,150 - (Increase)/ decrease of receivables (35,455,909,135) 78,667,215,574 (893,365,690,382) - (Increase)/decrease of goods in stock (1,049,994,985) 30,712,882,828 32,169,764,740 - Increase/(decrease) of payables 13,507,025,430 86,129,734,226 284,664,215,157 - (Increase)/ decrease of prepaid cost (124,025,850) (61,524,127) (22,910,882,649) - Paid loan interest (3,780,683,602) (3,153,354,969) - Paid business income tax (3,931,790,969) (7,417,133,274) (10,995,781,771) - Other cash received from business operation 195,056,000 - Other payments from business operation (1,371,237,500) (3,635,858,046) (50,000,000) Cash flow from business activities (52,341,515,443) 177,685,503,320 (402,732,152,724) II Cash flow from the investment activities Expenses for purchasing, constructing fixed assets and other long term assets (414,217,254,598) (268,478,939,811) (181,967,044,571) Collections from liquidation, transferring of the fixed assets and other ~ 99 ~    Capstone Project Report long term assets Expenses to loans, for buying debt instrument from other companies (315,000,000,000) Collections from loans, reselling debt instrument from other companies 264,409,041,096 42,143,200,000 Expenses on the investment on the joining capital to other companies (16,350,000,000) (196,455,000,000) (172,157,520,000) Collected interest from loans, dividend and profits divided 50,863,343,977 34,059,256,840 26,787,581,880 Cash flow from the investment activities (694,703,910,621) (166,465,641,875) (285,193,782,691) III Cash flow from financial activities Collections from share issuance, receiving equity capital from the Shareholders 937,620,000,000 62,380,000,000 Expenditures for paying for the capital joined by the Shareholders, for re-buying the issued shares from enterprises Short term and long term loan received 113,510,627,000 807,821,784,496 Payments to the loan principle (113,510,627,000) (134,700,000,000) Expenses to the payment to financial leasehold Dividend and profits paid to the shareholders Cash flow from financial activities 937,620,000,000 735,501,784,496 ~ 100 ~    Capstone Project Report Flow of net cash of current term Money and equivalents at the term begining Money and equivalent at the term ending 190,574,573,936 11,219,861,445 47,575,849,081 - 190,574,573,936 201,794,435,381 190,574,573,936 201,794,435,381 249,370,284,462   ~ 101 ~    ... Per Capita in VietNam in the period of 200 0-2 010 Source:http://www.msb.com.vn/g-tin-tuc-su-kien/b-tai-chinh-ngan-hang/tong-quan-kinh-teviet-nam-nam-2010-va-trien-vong-nam -2 011/ Chart and Figures... http://dddn.com.vn /20110 322043924849cat173/cho-thue-trung-tam-thuong-maimieng-banh-khong-de-xoi.htm; and http://vietbao.vn/Kinh-te/Cho-thue-trung-tam-thuong-mai-dathang/10936751/87/ (8) Reference from http://vnbusiness.vn/articles/bất-động-sản-du-lịch-và-nghỉ-dưỡng-bắt-đầu-ấm-lên... competitiveness with on-going projects of Petroland are Khang Dien Housing Investment and Trading Joint Stock Company (KDH), Van Phat Hung Joint Stock Company (VPH), and Thu Duc Housing Development Corporation

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Mục lục

  • TRANG B5À

  • ACKNOWLEDGEMENT

  • Table of contents

  • List of tables

  • List of figures, graphs

  • INTRODUCTION

  • Chapter 1. Theoretical basis on business strategy and real estate business strategy

  • 1.1. Definition, planning and implementation of strategy

  • 1.2. Model of five competitive forces of Michael Porter

  • 1.3. Overview about real estate business in Vietnam

  • 1.4. Necessity to make business strategy of Petroland

  • Chapter 2. Introduction about Petroland and current state of its production and business

  • 2.1. Introduction about the Company

  • 2.2. Overview about business activities of the Company

  • 2.3. Analysis of external environment

  • 2.4. Analysis of internal environment

  • 2.5. Analysis of matrices to strategically planning

  • Chapter 3. Planning business strategy and solutions for Petroland

  • 3.1. Planning Strategy

  • 3.2. Strategy implementation solutions

  • CONCLUSION

  • SOURCES

  • APPENDIX

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