LUẬN VĂN THẠC SĨ Chiến lược phát triển công ty cổ phần đầu tư phát triển Nhà Hà nội – HANDICO giai đoạn 2015-2020 THESIS MBA DEVELOPMENT STRATEGY FOR HANOI HOUSING DEVELOPMENT AND INVESTMENT CORPORATION (HANDICO) DURING THE PERIOD OF 2015-2020 ACKNOWLEDGMENT After a period of time participating at the International management of business administration jointly organized by Hanoi National University and Griggs University (USA), members of our group have acquired the most advanced knowledge in the world in business management With the teaching method and issue raising method,… of domestic and foreign lecturers, we have been equipped with a scientific way of thinking in order to research on new knowledge in various fields concerning business administration in the future Our group’s Capstone project is a fine combination between the knowledge transferred from our professors and the practice that we ourselves have experienced Due to time limit, the knowledge we have is still at a reasonable level, so our capstone project may have some shortcomings We wish to receive contributing ideas from our professors and scientific council so as to further complete our project We sincerely thank our lecturers, tutors and the entire staff of ETC Center for their enthusiasm and their assistance to create favorable conditions throughout the course We also wish to express our thanks to all the students of GaMBA01.M03 who have strongly been united and helping one another during the time of studying and researching We would like to thank members of the Board of the Council, Board of Directors and all office staff of Hanoi Housing Development and Investment Corporation who have helped us collect data for analysis in our capstone project Thank you very much! Hanoi, December 2009 CONTENT CHAPTER 1: THEORIES OF MANAGEMENT STRATEGY 12 1.1/ OVERALL ABOUT STRATEGY AND STRATEGIC MANAGEMENT: 12 1.1.1/ The concept of strategy and strategic management: 12 1.1.2/ The benefit of management strategy 14 1.2/ CONTENT OF MANAGEMENT STRATEGY: 15 1.2.1/ The Business Vision and Company Mission Statement .16 1.2.2 External environment analysis: 17 1.2.2.1 Macro environment analysis: 17 1.2.2.2/ Industry environment analysis : 18 1.2.3/ Internal environment analysis : 22 Understanding a business in depth is the goal of internal analysis This analysis is based resources and capabilities of the firm 23 1.3/ FORMULATION AND SELECTION OF DEVELOPMENT STRATEGIES 25 1.3.1/ Strategy formulation: .25 1.3.1.1/ Identifying objective and the importance of identifying objective: 25 1.3.1.2/ SWOT matrix and choosing business strategy: 26 1.3.2/ Selecting the best strategy: .27 1.3.2.1/ Cost Leadership Strategy 28 1.4/ CONCLUSION: 33 CHAPTER II: ANALYSIS OF ACTUAL SITUATION OF HANOI HOUSING DEVELOPMENT AND INVESTMENT CORPORATION (HANDICO) .33 2.1/ EXTERNAL ENVIRONMENT ANALYSIS: 33 2.1.1 Macro environment analysis: 33 2.1.1.1/ Political - legal environment: (P) .34 2.1.1.2/ Economic environment: (E) .36 2.1.1.3/ Social environment: (S) 37 2.1.1.4/ Technology environment: (T) 38 2.1.1.5/ International environment: .39 2.1.2 Industry environment analysis: 39 2.1.2.1/ Potential entrants: .40 2.1.2.2/ Existing competitors: .42 2.1.2.3/ Bargaining power of buyers: 42 2.1.2.4/ Bargaining power of suppliers: 44 2.1.2.5/ Threat of substitutes: 45 2.1.3 Summing up results of external environment analysis: 45 2.1.3.1/ Opportunities and ranking opportunities: 46 2.1.3.2/ Threats and ranking threats: .48 2.2/ INTERNAL ENVIRONMENT ANALYSIS: 50 2.2.1/ Overview about HANDICO: 50 2.2.1.1/ The process of establishment and development of HANDICO: .50 2.2.1.2/ HANDICO’s organizational structure and management mechanism: 54 2.2.1.3/ Main business activities of HANDICO: 55 2.2.1.4/ Mission, vision and value of HANDICO: .57 2.2.2/ Analysis of production and trade results from 2006-2008 58 2.2.3/ Analysis of internal environment of HANDICO : 59 2.2.3.1/ Capacity in terms of equipment, infrastructure: 59 2.2.3.2/ Experience in operating and being master of technology: 61 2.2.3.3/ Production cost management and main material management .61 2.2.3.4/ Production quality: 62 2.2.3.5/ Management team: 64 2.2.3.6/ Strength in human resources: 65 2.2.3.7/ Management system for production and business activities 66 2.2.3.8/ Works sourcing, selling and marketing 67 2.2.3.9/ After-sales service: 68 2.2.3.10/ Analysis of selling price of products: 68 2.2.3.11/ Research and development 71 2.2.4/ Identifying outstanding capability and competitive edges 71 2.2.4.1/ Identifying outstanding capability: 71 2.2.4.2/ Identifying HANDICO’s stable competitive edges: .76 2.2.5/ Summing up internal environment analysis for HANDICO 77 CHAPTER III–FORMULATION AND SELECTION OF DEVELOPMENT STRATEGIES FOR HANDICO STRATEGIC SOLUTIONS AND IMPLEMENTATION PLAN .78 3.1/ FORMING BUSINESS STRATEGIES AND SELECTING THE BEST STRATEGY FOR HANDICO 78 3.1.1 SWOT analysis: 78 3.1.2 Selecting the best strategy for HANDICO: 82 3.2/ COST LEADERSHIP STRATEGY: 84 3.2.1/ Content of strategy: 84 3.2.1.1/ Short-term goals till 2015: .84 3.2.1.2 Long-term goals: .85 3.2.2/ Strategic solutions: 86 3.2.3/ Implementation plan: .89 3.3/ STRATEGY OF FOCUSING INTO KEY CLIENTS .93 3.3.1/ Content of strategy: 93 3.3.1.1/ Short-term goals till 2015: .93 3.3.1.2/ Long-term goals: 94 3.3.2/ Strategic solutions: 95 3.3.3/ Implementation plan: .96 3.4/ SHORT-COMINGS OF CAPSTONE PROJECT: 100 3.5/ DIRECTION FOR FOLLOW-UP RESEARCH: 100 CONCLUSION 102 REFERENCE DOCUMENTS 104 ANNEX 106 ANNEX 108 LIST OF FIGURES Figure 1.1/ M.Porter ‘s 5-force competitive model 19 Figure 2.1/ PEST analysis 34 Figure 2.2/ Forecast of GDP growth of some regions, nations in 2009 and 2010 in comparison with the growth of recent years 37 Figure 2.3/ M.Porter ‘s 5-force competitive model 40 Figure 2.4/ Evaluation of opportunities for HANDICO 46 Firgure 2.5/ Evalutating impact of threats to HANDICO 48 Figure 2.6/ Summing up opportunities and threats for HANDICO 50 Figure 2.7/ Criteria and achievement during 2004-2008 53 Figure 2.8/ HANDICO’s chartered capital through various years 53 Figure 2.9/ HANDICO’s organization chart: 54 Figure 2.10/ HANDICO’s labor structure up to 31/8/2009: .55 Figure 2.11/ HANDICO production and trade results from 2006 - 2008 58 Figure 2.12/ Main equipmnet of HANDICO .59 Figure 2.13/ Typical constructions and projects implemented by HANDICO 63 Figure 2.14/ Typical constructions that HANDICO has won tender .69 Figure 2.15/ Main information about competitors 72 Figure 2.16/ Table of opinions of experts 75 Figure 2.17/ Table of opinions of internal survey in HANDICO .76 Figure 2.18/ Table of relationship in terms of HANDICO’s competitive edges 77 Figure 2.19/ Summing up strengths and weaknesses of HANDICO 78 Figure 3.1/ Overall SWOT matrix for HANDICO: 79 Figure 3.2/ GREAT model for choosing the optimum strategy for HANDICO 83 Figure 3.3/ Implementation plan for cost leadership strategy 90 Figure 3.4/ Implementation plan for strategy of focusing into key clients 97 ABBREVIATIONS ASEAN Association of Southeast Asian Nations APEC Asia – Pacific Economic Forum GDP Gross Domestic Products FDI Foreign Direct Invention GREAT Gains – Risks – Expenses – Achievability – Timing HANDICO Hanoi Housing Development and Investment Corporation PEST Politics, Economy, Society, Technology PR Public Relation R&D Research & Development SWOT Strength, Weakness, Opportunity, Threat SO Strategy for combining Strengths & Opportunities) ST Strategy for combining Strengths & Threat WO Strategy for combining Weaknesses & Opportunities WT Strategy for combining Weaknesses & Threat) WTO World Trade Organization Corporation Hanoi Housing Development and Investment Corporation FOREWORDS The Capstone Project Title: Development strategy for Hanoi Housing Development and Investment Corporation (HANDICO) during the period of 2015-2020: The reason for choosing the Project: During recent time, the world economy has experienced great changes; especially the financial crisis in the US has affected almost all the nations in the world including Vietnam After this economic crisis, we now can look back to find out the internal shortcomings and weaknesses of our economy At present, the Vietnamese economy in particular and the world economy in general tend to start recovering and developing It is important that each economic organization must find out a suitable direction for its own to enable the stable development in the future Vietnam has been regarded as an economy with rather fast economic recovery, which has been shown by the Government’s rescue packages to stimulate economic growth However, an undeniable fact is that the Vietnamese economy is growing at a lower level than its potential due to major obstacles including inefficient investment, dilapidated infrastructure and a merely economy of semi-fabrication with low added value From the 3rd quarter of 2007, domestic enterprises had to overcome the fiercest screening stage After this screening stage, the enterprises that still survive and develop have proven their high adaptability, agility and flexibility in their business and production activities For developing countries, construction is always considered one of the key industries, which plays an important role in the economic-social development course, especially during the industrialization and modernization of the country It creates basic physical facilities for the stable development in the future At present, Vietnam is actively implementing administrative improvement measurements to create a fair legal and investment environment in order to encourage and attract domestic and foreign investors However, investors also have to face with and abide by the rules of the game in which they have their real rivals, there is no concession or sharing, and it is a fierce, risky and challenging battle The rule of competition does not give exception to any economic entity or sector in the society and this rule exists in all fields Therefore, economic sectors in general and construction in particular have to find their own way, build their own specific and suitable strategies and tactics for survival and development Hanoi Housing Development and Investment Corporation (HANDICO) is a state owned enterprise founded on September 21 st, 1999 under the first “Corporation 90” model of Hanoi In the context that the economy is shifting towards the socialismoriented economy, the foundation of HANDICO had an important meaning in terms of arranging, splitting the enterprise-managing function of Bureaus, Departments, district authorities, focusing into the establishment of big and official economic organization operating in the fields of construction, as well as implementing other important responsibilities assigned by the municipality, meeting the demand of innovation in the business of housing development of the Capital in the modern society The most important thing for HANDICO now is to work out an overall development plan for all its production and business activities in order to compete with domestic and foreign enterprises and to enlarge market share so as to achieve its growth target in all aspects during the period of 2010-2015 This is also the target of the writers when choosing this strategic planning topic Purpose and scope of research: Researching the basis for setting up development strategy, strategy process and the way to select the optimum strategy in order to help HANDICO identify a suitable strategy of production and business in the current business circumstance From there, HANDICO can take on proper actions for expanding, reducing business cost, using capital effectively, having profit as well as enhancing the competitiveness for the enterprise From the above-mentioned research, putting forth proposals for solutions to improve the process of building up HANDICO’s strategy in the current business circumstance Scope of research: This capstone project focuses into analyzing the strengths and weaknesses of HANDICO’s current strategy From that basis, building up and selecting business strategy for HANDICO during the period of 2010-2015 Implementation method: Qualitative method: Applying theories of business strategy, bringing the models of business strategy setting up and selecting into the practical situation of HANDICO Research methodology: Statistics, survey, analysis, comparison, synthesizing data Data: Primary and secondary Data collecting method: Depending on data publicized on mass media and HANDICO’s capability portfolio Structure of capstone project: The capstone project consists of forewords and chapters The main content of each chapter is presented as follow: CHAPTER 1: THEORIES OF MANAGEMENT STRATEGY - Overall about strategy and strategic management 10 propose the reconsideration or changing of strategies if there are changes compared to original situation - Seriously and effectively implementing strategic solutions as mentioned above in the direction already set forth There must be a clear assignment to the person in charge to have the responsibility to implement the solutions and organize, estimate expenses for basic solutions Re-evaluation has to be done every quarter or every year The estimated plan for implementation of basic solutions to follow the selected strategies are as follow: 3.3.3/ Implementation plan: Strategy implementation plan will be assigned specifically and will be put forth with solutions, timing, deadline, assigned person and finally evaluation of result 96 Figure 3.4/ Implementation plan for strategy of focusing into key clients Person in charge Fund Solutions Deadline Criteria for evaluation (Million dong) - Taking more advantage of the support and - Chairman assistance from government, especially the - General Director 150 Municipality, People’s Council, People’s - Directors of member - Evaluating by criteria of To be done on a annual revenue growth of regular basis 125% to 140% Committee in two big cities of Hanoi and units Hochiminh City - In each strategic area, HANDICO has to - Vice General Director in organize a professional team who has high charge of key projects 180 The number of key projects in the assigned area qualification, understand well all the laws - Manager of Project Sales for HANDICO has to and regulations of the Government in the Department increase every year basic construction investment Taking the - Directors of member - Targeting to be master of initiative to contact different organs to deal units all key projects in Hanoi with all issues After that assigning tasks to areas up to 2015 From 01/2010 To 12/2010 member units of the Corporation for implementation - Reviewing, strengthening the technical - Vice General Director in staff of member companies Working out charge of technical issues 97 - The number of technical 200 staff increases 1.5 times by From 01/2010 plan for training, recruiting and setting - Directors of member 2011 suitable motivating policies to attract and units - Each year after that, the encourage capable staff increase will be 10% To 12/2011 - Targeting at 95% of key staff to stay with HANDICO for long-term - Criteria are the rate of - Periodically evaluating the jobs done, - Vice General Director in reporting problematic issues to the Board charge of projects 100 of Directors to find out solution projects done divide by total number of projects being assigned Targeting at the rate of over 90% 98 Every months 3.4/ SHORT-COMINGS OF CAPSTONE PROJECT: This research project only focuses into formulating and selecting business strategy for HANDICO An advantage for the group is that one of the group members is the key person of HANDICO from the foundation date, so he has been directly involved in the management of business activities of the Corporation Therefore, the group has the opportunities to investigate and collect accurate data as well as analyze the facts and figures of the construction industry However, the solutions to strategy implementation will surely have some objective short-comings If they are put into practice, they need to be discussed and agreed among the Executive Board and Board of Directors of the Corporation to be adapted according to actual situation In the context of integration, since Vietnam joined World Trade Organization WTO, the economy has been influenced by many factors from inside and outside Besides, during the initial period of global economy integration, there will be unforeseeable changes of the economy, especially when the construction industry depends a lot on such factors as raw materials, power, law and regulation,… Therefore, the research and formulation of strategies must be checked very carefully and the implementation has to be evaluated so as to have timely adjustment solutions or changes to guide the strategies along with the actual situation of each period of time With the analysis and statistics, the project report can be used as reference document for the Corporation and other construction investment companies in Hanoi areas Obviously, additional research will be necessary before the project report can be used in order to match with actual conditions of each company 3.5/ DIRECTION FOR FOLLOW-UP RESEARCH: The direction for follow-up research of this project report will be to intensify the technology investment into advanced construction, modern equipment, to pay more attention into human resources training, to push up the application of information technology into management activities in order to improve product 100 quality, reduce timing schedule, affirming HANDICO brand – Steadily moving with the society, building HANDICO up into one of the strong economic groups in Vietnam and in the region The follow-up research needs to focus into the following points: - In terms of theory: Continuing to make reference to documents of local and foreign universities and translated text books of foreign universities such as “Strategic management” of Dr Le The Gioi, Dr Nguyen Thanh Liem, Dr Tran Huu Hai “Management of competitive strategies and globalization” of Hill, M, Ireland, R., and Hoskinsson, R., 7/e, 2007 Thomson Southwestern… from there to find out suitable management model to the existing workforce of the Corporation - In terms of practical issues: + Investigating more deeply into the real capability of the Corporation in areas: For financing, making a more thoroughly analysis on the financial potential of the Corporation, especially financial ratios such as payment ratio, self-financing ratio, capital structure, profitability ratio,…, then to find our strengths and weaknesses in management as well as the real financial potential of the Corporation For human resources management, the Corporation should evaluate staff by a series of criteria such as age, years of working, professionalism, diligence, … in order to make a proper arrangement of workforce + Research deeply about construction law, real estate trading law in order to set up suitable and effective solutions because this is the key business of the Corporation + Continuing to research the adaptability of the Corporation in the new construction technology, especially light-weight material production technology + Researching more deeply about competitors in all aspects such as finance, technology, equipment, level of trust to compare the competitive advantages and build up suitable strategies 101 CONCLUSION To be successful in business, the task for enterprises in general and construction enterprises in particular is not only to set forth the business strategic target but also to analyze, investigate favorable factors that the strategies bring about On the one hand, it is necessary to find out opportunities, on the other hand there is the necessity to discover threats to the survival of enterprises to timely cope with them, ensuring that the enterprise must survive and steadily develop, strengthening and expanding marketing share This project report has clearly point out the objective necessity and the urgency of establishing business strategy for Hanoi Housing Development and Investment Corporation HANDICO This strategy development is considered a practical need to solve the problems that HANDICO is facing Contributions of the project report: - The project report has clarified the nature and the role of business strategy, especially when our country is on the way of renovation and development - The report has proposed systematically and specifically the basic issues to complete the business strategy of HANDICO, it is the pre-requisite for HANDICO to affirm its position and brand in the trend of integration Our group wishes to make certain contribution to the development of HANDICO in terms of both theory and practice However, the research was done in a narrow aspect and within a limited time range, although the group wanted to research from many aspects, we can only reach basic ideas Therefore, this report will surely have some short-comings or lack of adequate and deep analysis over the issues that were raised Therefore, the group wishes to receive contributing comments from the Council Board and all students of International Master of Business Administration, so that our project report can be more complete 102 Our group would like to express our thanks to Lecturers, Professors and staff of ETC Center for Technology, Training and Job Opportunities – Hanoi National University for creating all favorable conditions for us to be in touch with the most advanced knowledge of business management in the world, at the same time to complete well the program for Master of Business Administration organized by the Center Hanoi, December 2009 103 REFERENCE DOCUMENTS Akker, David A “Business Strategy Implementation”, Translator: Dao Cong Binh – Minh Đuc, Youth Publishing House Casseres, Benjamin Gomes “Competitive methods for gaining victory”, Translator: Manh Linh Culture and Information Publishing House (2005) Vietnam Economic Development Strategy 2000-2010, MPI Duong Ngoc Dung “Competitive Strategy with Michael E.Poter’s theory” Hochiminh General Publishing House (2005) Drucker, P.F “The Practice of Management” New York: Harper (1954) Dao Duy Huan “Strategic Management (In the global economy)” Statistics Publishing House (2007) Le The Gioi, Nguyen Thanh Liem, Tran Huu Hai “Strategic Management” Statistics Publishing House (2007) Nguyen Thao, Trung Nguyen “Business Management” Labor and Society Publishing House (2007) Nguyen Trong The, Nguyen Huu Tho “Effective Management” Labor and Society Publishing House (2007) 10 Pham Lan Anh “Strategic Management” Science and Technique Publishing House (2004) 11 Pham Van Duoc, Dang Thi Kim Cuong “Business Activities Analysis” Hochiminh General Publishing House (2005) 12 Porter, Michael “Competitive Strategy: Techniques for Analyzing Industries and Competitors” New York: Free Press (1985) 13 Business Management Department, Hanoi National University “Strategic Management” 14 Capacity portfolio Hanoi Housing Development and Investment Corporation in 2009 104 15 HANDICO – 10 years of establishment and development Vietnam News Agency Publishing House – September 2009 16 Website:http://mystrategicplan.com/resources/internal-and-external-analysis/ 17 Website: http://handico.com.vn 18 Website: http://constrexim.com.vn 19 Website: http://hancorp.com.vn 20 Website: http://hud.com.vn 21 Website: http://licogi.com.vn 22 Website: http://songhongcorp.vn 23 Website: http://udic.com.vn 24 Website: http://vinaconex.com.vn 25 Website of Ministry of Planning and Investment, www.mpi.gov.vn 26 Website of Ministry of Construction, www.moc.gov.vn 27 Website of Statistics Bureau, www.gso.gov.vn 28 Website : www.saga.vn 29 Website : www.marketingteacher.com 30 The Economist, July 25th, 2009 World Development Indicators and IMF data center) 105 ANNEX OPINION SURVEY FOR EXPERTS With the view of getting opinions from experts in the construction industry for our capstone project under the Master of Business Administration program entitled “DEVELOPMENT STRATEGY FOR HANOI HOUSING DEVELOPMENT AND INVESTMENT CORPORATION (HANDICO) DURING THE PERIOD OF 2015-2020”, we would like to send you this opinion survey leaf and would appreciate it if you can spend your valuable time giving us your opinions in terms of research and practice Please mark your opinion for Corporations working in the field of constructions based on the criteria below and score (scale from to 10), the higher the score, the higher your evaluation for the Corporation Corporations are arranged in alphabetic order, including: Vietnam Investment Construction and Trading Joint Stock Corporation CONSTREXIM Vietnam Construction and Import-Export Joint Stock Corporation VINACONEX Urban Infrastructure Development Investment Corporation UDIC Housing and Urban Development Corporation HUD Hanoi Housing Development and Investment Corporation HANDICO Hanoi Construction Corporation HANCORP Song Hong Corporation Infrastructure Development and Construction Corporation LICOGI 106 CONST- VINA- REXIM CONEX UDIC Corporation HANHUD DICO HANCORP LICSHCO OGI Leadership Managing capability Production & operation management Technology Equipment Product quality Human resources Brand and reputation Production cost Note: - For a certain criteria, if you not have foundation for evaluation for any Corporation, please mark “K” for that Corporation - For a certain criteria, if you not have foundation for evaluation for all Corporations, please mark “K” in Remarks column - Full name:…………………………………… Education:……………………………………………………………………… - Position:……………………………… …… Company:……………………………………………………………………… Thank you very much for your help ! 107 ANNEX OPINION SURVEY FOR HANDICO STAFF With the view of getting opinions from HANDICO staff for our capstone project under the Master of Business Administration program entitled “DEVELOPMENT STRATEGY FOR HANOI HOUSING DEVELOPMENT AND INVESTMENT CORPORATION (HANDICO) DURING THE PERIOD OF 20152020”, we would like to send you this opinion survey leaf and would appreciate it if you can spend your valuable time giving us your opinions in terms of research and practice Please mark your opinion for Corporations working in the field of constructions based on the criteria below and score (scale from to 10), the higher the score, the higher your evaluation for the Corporation Corporations are arranged in alphabetic order, including: Vietnam Investment Construction and Trading Joint Stock Corporation CONSTREXIM Vietnam Construction and Import-Export Joint Stock Corporation VINACONEX Urban Infrastructure Development Investment Corporation UDIC Housing and Urban Development Corporation HUD Hanoi Housing Development and Investment Corporation HANDICO Hanoi Construction Corporation HANCORP Song Hong Corporation Infrastructure Development and Construction Corporation LICOGI 108 CONST- VINA- REXIM CONEX UDIC Corporation HANHUD DICO HANCORP LICSHCO OGI Leadership Managing capability Production & operation management Technology Equipment Product quality Human resources Brand and reputation Production cost Note: - For a certain criteria, if you not have foundation for evaluation for any Corporation, please mark “K” for that Corporation - For a certain criteria, if you not have foundation for evaluation for all Corporations, please mark “K” in Remarks column - Do not put your name on the survey leaf - Department you are working in:…………………………… Time of working for HANDICO:……… ………Years Thank you very much for your help ! 109 ANNEX III METHOD FOR GETTING OPINIONS BY INTERVIEWING EXPERTS To have an objective evaluation over the basic criteria, to identify core competencies of Hanoi Housing Investment and Development (HANDICO) as compared to competitors, the group of authors has conducted a survey to get opinions from external experts and key staff of HANDICO The people being interviewed are: 1/ External experts: These experts come from various departments and organizations in the field of investment management and basic construction, who are directly managing and frequently working with construction corporations in the area, including: • Ministry of Construction • Hanoi Construction Department • Hanoi Planning and Investment Department • Hanoi Blue-print – Architecture Department • Natural Resources – Environment Department • Enterprises’ Capital and Asset Management Bureau – Hanoi Finance Department • Hanoi Construction University The people receiving opinion survey cards are members of Management Boards, heads and deputy heads of department with long working time, rich experience and deep understanding of Construction Corporations 110 2/ Key staff of HANDICO: These staff have over years of experience working in HANDICO, high professional knowledge and deep understanding of management They belong to: • Board of General Directors • Planning – General Admin Department • Project Development and Trade Department • Construction Installation Management Department • Finance – Accounting Department • Capital Investment Management Department • Organization – Human Resources Department • Assistant – Secretary Board • Board of Directors of member companies • Board of Directors of project management boards belonging to the Corporation The group of authors has assigned tasks to each member to distribute opinion cards, collect and take out some cards which are not in conformity or lack of information After that, the group synthesize, calculate average point of each given criteria and conduct analysis 111