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F LUẬN VĂN THẠC SĨ Xây dựng chiến lược kinh doanh Công ty Du Lịch Viettravel THESIS TITLE BUSINESS STRATEGY BUILDING FOR VIETTRAVEL CO., LTD ACKNOWLEDGEMENTS Our appreciation goes to the Master of Business Administration Programs – Special mention also goes to all Lecturers of the Program provided us with valuable knowledge during the MBA course so that we can sum up into this as a final report Our gratitude also goes to the VIETTRAVEL Directorate and its staff has facilitated our Group during the practice time there Appreciation also goes to all the Students of and “Mama” staff for encouraging and helps us during the MBA course and report time Lastly, our appreciation goes especially to the Group’s families who facilitate us to fully participate in the MBA course Although our Group has tried our best to perform this Capstone Project Report within our capacities but it definitely still have unavoidable deficiencies We are thus hope that we will continuously receive more valuable comments from you all for the next step – the strategy implementation of VIETTRAVEL TABLE OF CONTENTS Page F ACKNOWLEDGEMENTS .2 LIST OF ABBREVIATIONS a The necessity of topics .10 a.The necessity of topics 10 b Research purposes 12 b.Research purposes 12 c Object and scope of the research 12 c.Object and scope of the research 12 d Research methodology .12 d.Research methodology 12 e Expected output 12 e.Expected output .12 f Lay-out of Capstone Project Report 13 f.Lay-out of Capstone Project Report 13 Basic theory of strategic management 14 Basic theory of strategic management 14 1.1 Concept of strategy 14 1.1.Concept of strategy .14 1.2 Concept of business strategy 15 1.2.Concept of business strategy .15 1.3 Business strategy clarification 15 1.3.Business strategy clarification 15 1.4 Basic model of business strategy management .16 1.4.Basic model of business strategy management 16 Strategy building for an enterprise .18 Strategy building for an enterprise .18 2.1 Business environment analysis 18 2.1.Business environment analysis 18 2.1.1 External business environment .18 2.1.1.External business environment 18 2.1.2 Macro environment analysis 18 2.1.2.Macro environment analysis 18 Economic environment 18 environment 18 Technological environment .18 environment 18 Sociocultural environment 18 environment 18 Demographic environment 19 environment 19 Political - Legal environment 19 - Legal environment 19 Global environment 19 environment 19 2.1.3 Micro environment analysis 19 2.1.3.Micro environment analysis 19 Bargaining power of buyers 19 power of buyers 19 The Bargaining power of suppliers analysis .20 Bargaining power of suppliers analysis 20 Rivalry among competing firm analysis 20 among competing firm analysis .20 Threat of new entrants analysis 20 of new entrants analysis 20 Threat of substitute products analysis .21 of substitute products analysis .21 2.1.4 Internal environment analysis 21 2.1.4.Internal environment analysis 21 2.2 SWOT Matrix Tool 21 2.2.SWOT Matrix Tool 21 2.3 External Factor Evaluation Matrix (EFE Matrix) 23 2.3.External Factor Evaluation Matrix (EFE Matrix) 23 2.4 Internal Factor Evaluation Matrix (IFE Matrix) 23 2.4.Internal Factor Evaluation Matrix (IFE Matrix) 23 2.5 Internal - External Matrix (IE Matrix) 24 2.5.Internal - External Matrix (IE Matrix) 24 CHAPTER II: COMPANY’S BUSINESS ENVIROMENT ANALYSIS 25 Overview about VIETTRAVEL 25 Overview about VIETTRAVEL 25 1.1 Foundation and development 25 1.1.Foundation and development 25 1.2 Company’s organization structure 27 1.2.Company’s organization structure 27 1.2.1 Head office in Hanoi 27 1.2.1.Head office in Hanoi 27 1.2.2 Representative office in Hochiminh city 28 1.2.2.Representative office in Hochiminh city .28 1.2.3 Partners system .28 1.2.3.Partners system 28 1.3 Main products and services .28 1.3.Main products and services .28 1.3.1 Tourism products and services .28 1.3.1.Tourism products and services 28 1.3.2 Other kind of products and services .28 1.3.2.Other kind of products and services 28 1.4 Some results of business operations of the company 28 1.4 Some results of business operations of the company 28 External business environment analysis .29 External business environment analysis 29 2.1 Macro environment analysis 29 2.1 Macro environment analysis 29 2.1.1 Economic environment 29 2.1.1.Economic environment 29 2.1.2 Technological environment 31 2.1.2.Technological environment 31 2.1.3 Socio-cultural environment 31 2.1.3.Socio-cultural environment 31 2.1.4 Demographic environment 32 2.1.4.Demographic environment .32 2.1.5 Political- Legal Environment .32 2.1.5.Political- Legal Environment 32 2.1.6 Natural environment .33 2.1.6.Natural environment .33 2.1.7 Global environment 34 2.1.7.Global environment 34 2.2 Micro environment analysis 35 2.2.Micro environment analysis 35 2.2.1 Bargaining power of buyer analysis .35 2.2.1.Bargaining power of buyer analysis 35 2.2.2 Bargaining power of suppliers .36 2.2.2.Bargaining power of suppliers .36 2.2.3 Rivalry among competing firms 37 2.2.3.Rivalry among competing firms .37 2.2.4 Threat of new entrants analysis 38 2.2.4.Threat of new entrants analysis .38 2.2.5 Threat of substitute products 38 2.2.5.Threat of substitute products 38 2.3 External Factor Evaluation 39 2.3.External Factor Evaluation .39 Internal environment analysis 40 Internal environment analysis .40 3.1 Analysis of current strategy .40 3.1.Analysis of current strategy .40 3.2 Competitive edges 41 3.2.Competitive edges .41 3.3 Origin of sustainable completion advantage 44 3.3.Origin of sustainable completion advantage 44 3.3.1 Resources 44 3.3.1.Resources 44 The company now has the closed travel business procedure including the stages: 44 company now has the closed travel business procedure including the stages: 44 Infrastructure and business production capacity .45 and business production capacity .45 Human resource 45 resource 45 Financial Source 46 Source 46 Business capabilities of VIETTRAVEL 47 capabilities of VIETTRAVEL .47 3.3.2 Market 48 3.3.2.Market 48 Outbound Market 48 Market 48 Inbound market 49 market 49 The values of the VIETTRAVEL brand 50 values of the VIETTRAVEL brand 50 VIETTRAVEL brand awareness .51 brand awareness .51 Sense of superior quality 51 of superior quality 51 3.3.3 Brand Image 51 3.3.3.Brand Image 51 3.3.4 Brand loyalty 52 3.3.4.Brand loyalty 52 3.3.5 Other values of the brand .52 3.3.5.Other values of the brand .52 3.4 Value chains and the creation of value chains of the company: .53 3.4.Value chains and the creation of value chains of the company: 53 3.4.1 Research and development 53 3.4.1.Research and development .53 3.4.2 Marketing and sales 53 3.4.2.Marketing and sales 53 3.5 Out sourcing 53 3.5.Out sourcing 53 3.6 Internal Factor Evaluation (IFE Matrix) 53 3.6.Internal Factor Evaluation (IFE Matrix) 53 CHAPTER III: BUSINESS STRATEGIES OF VIETTRAVEL FOR PERIOD OF 2010-2015 55 Visions and missions of VIETTRAVEL for period of 2010-2015 55 1.Visions and missions of VIETTRAVEL for period of 2010-2015 .55 Business strategies selection for VIETTRAVEL period 2010-2015 57 2.Business strategies selection for VIETTRAVEL period 2010-2015 57 2.1 SWOT Matrix 57 2.1.SWOT Matrix .57 2.2 Internal - External Matrix (IE Matrix) 58 2.2.Internal - External Matrix (IE Matrix) 58 Solutions to implement strategies chosen 58 3.Solutions to implement strategies chosen 58 3.1 Solution 59 3.1.Solution .59 3.2 Solution 59 3.2 Solution 59 3.3 Solution 59 3.3 Solution 59 3.4 Solution 59 3.4 Solution 59 3.5 Solution 59 3.5 Solution 59 3.6 Solution 59 3.6 Solution 59 3.7 Solution 60 3.7 Solution 60 RECOMMENDATIONS 61 Vietnam Administration Tourism and stakeholders 61 1.Vietnam Administration Tourism and stakeholders 61 Higher authorities – The Union of Vietnam Transport 61 2.Higher authorities – The Union of Vietnam Transport .61 CONCLUSION 62 REFERENCES 63 APPENDICES 64 LIST OF ABBREVIATIONS WTO World Trade Organization ASEAN Association of Southeast Asian Nations UNESCO United Nations Educational Scientific and Cultural Organization UNDP United Nations Development Programme MBA Master of Business Administration FDI Foreign Direct Investment ODA Official Development Assistance GDP Gross Domestic Product MICE The Meetings, Incentives, Conventions and Exhibitions VND Vietnam dong USD American Dollar LIST OF TABLES AND FIGURES Page TABLES Table 1: Some results of the company’s business operation Table 2: External Factor Evaluation Matrix 24-25 35 Table 3: Human resource statistic 41-42 Table 4: Company’s capital structure 42-43 Table 5: Company’s revenue over the years 44 Table 6: Internal Factor Evaluation Matrix 50-51 Table 7: VIETTRAVEL goals and targets till 2015 Table 8: Balance Sheet 2007, 2008 53 63-68 FIGURES Figure 1: Business Strategy 11 Figure 2: Basic Model of business strategy management 13 Figure 3: Values of brand 47 Figure 4: SWOT Matrix 54 Figure 5: Internal External Matrix 55 INTRODUCTION a The necessity of topics Vietnam is a country located at the center of East Asia with a geographical location of advantages in economic cooperation and exchanges with other countries in the region and international with its economy is growing and gained important achievements in the renovation of the country With diverse and abundant natural resources of 3,200 km coastline with diversity marine ecosystems and island; famous beautiful beaches; Ha Long Bay is recognized World Natural Heritage by UNESCO; Nha Trang Bay is considered as amongst the 29 world's most beautiful bays by The World Bay Club; Da Nang beach is rated as one of the most beautiful beaches the planet by Forbist magazine (USA) In addition, many marine ecosystems, islands and beaches such as the Lang Co Mui Ne-Phan Thiet, Phu Quoc Island etc Many caves, forests and natural protected areas such as Phong Nha-Ke Bang, Can Gio Area Biosphere Reserves World, Ca Mau salt-marsh forest Also, Vietnam is the country with its excellent culture- history with many cultural festivals-cultural art traditions, ancient capital Hue, Hoi An, My Son relics Of these, heritages were recognized as the world natural and culture heritages by UNESCO Vietnam has a stable political regime wiht hospitality people, refined food, handicrafts and traditional fine-arts is attracting more international tourists to Vietnam Currently, tourism is one of the key economic sectors of many countries including Vietnam Tourism is important for the country's economic development and improving people's incomes, particularly for people in the trade villages of tourist sites in the development strategies of national economy The most important in the integration period, tourism is the opportunity to exchange, convergence of global tangible and intangible civilizations; create believe, understanding, solidarity among nations In other words, tourism is a bridge to promote the economy, is the face of a nation In order to promote economic development needs to promote 10 Business strategies selection for VIETTRAVEL period 2010-2015 Rationale of business strategies selection for VIETTRAVEL is SWOT Matrix, IE Matrix and system of its goals and targets as stated above 2.1 SWOT Matrix An enterprise does not need to pursue the best opportunities that can instead creating the ability to develop competitive advantage by finding out the relevance between the strengths and upcoming opportunities In some cases, enterprise can overcome their weaknesses to win attractive opportunities To develop strategies for VIETTRAVEL, the Group based SWOT analysis for the synthesis of evaluation results opportunities, threats and strengths, weaknesses to incorporate these elements into business strategies for VIETTRAVEL Strengths (S) Internal - Quality of products and Environment External Environment Opportunities (O) - Industry consolidation; - Increase air agencies and hotels; - Avaiable nature resources and potential inbound market of Vietnam - Demand changes Threats (T) - Declining margins; - Price wars; - Economic downturn; - New competitors can provide new products and services services; - Business capabilities; - Loyal employees; - Reputation and image; - Assets Weaknesses (W) - Little diversification; Limited access to international market; - Absence of strategic partner; - Deficient human resource; - Research and Development S-O strategies W-O strategies pursue opportunities that are overcome weaknesses to good fit to the company’s pursue opportunities strengths S-T strategies identify ways that the company can use its strengths to reduce its vulnerability to external threats Figure 4: SWOT Matrix 57 W-T strategies establish a defensive plan to prevent the company’s weaknesses from making it highly susceptible to external threats 2.2 Internal - External Matrix (IE Matrix) The Implementation Team use IE Matrix to show the results of EFE Score Total EFE Score and IFE score as follows: I Grow & Build 4 IV VII II III Total IFE Score V Hold & Maintain VIII VI IX Harvest or Divest Figure 5: IE Matrix With EFE score of VIETTRAVEL is 2.8 and IFE score is 2.9, IE Matrix tell us that VIETTRAVEL should Hold & Maintain its strategy In this case, the suitabel stragegies chosen for VIETTRAVEL can be S-O and S-T strategies means that VIETTRAVEL tactical strategies should focus on market penetration and product development; Solutions to implement strategies chosen As above mentioned S-O strategies is utilizing company’s strengths to deploy opportunities from external environment; S-T strategies identify ways that the company can use its strengths to reduce its vulnerability to external threats; the 58 Group combines these strategies and proposes the following solutions for VIETTRAVEL: 3.1 Solution Respect the law and continue to maintain prestige in business and strictly follow the legal regulations on travel; compliance and implementation of adequate with quality of customer service procedure 3.2 Solution Select target market and use Promotion Mix to match with each market segment that the company has chosen Priority investment in transport means such as investment on cars, buses to active service and play a role in creating the core tourism product packages to serve inbound visitors who are target customers of the company period 2010-2015 3.3 Solution In each period, the company may consider option strategies to distinguish products (high quality, exclusive) or quick response strategies meet market demand because the demand of customers is changing very quick 3.4 Solution Enhance to investment in research and development product according to customer changing trends in travel; Implement copyright registration to protect industrial property rights 3.5 Solution Establish, improve and effectively use market information systems of the company in order to penetrate markets inbound and outbound markets beyond the traditional markets 3.6 Solution After equalization in 2012, the company will issue shares to participate in the stock market in Hanoi and HCM City to mobilize capital 59 3.7 Solution Strengthen the company organizational structure For each division of work according to the goals and targets defined, it need plans to recruit sufficient personnel to perform; build loyalty of employees for companies 60 RECOMMENDATIONS Vietnam Administration Tourism and stakeholders With competitive conditions tourism, Vietnam Administration Tourism is proposed to review businesses eligible of tourism enterprises that are granted international business licence to ensure prestige of Vietnam tourism Vietnam Administration Tourism should be combined more closely with Mistries/Sectors to improve infrastructure and investment for Vietnam Tourism Vietnam Administration Tourism should be combined more closely with stakeholders such as Ministry of Foreign Affairs, Ministry of Public Security, and General Department of Customs to facilitate tourists of migration and immigration procedures Further strengthen the role of state management on tourism from Vietnam Administration Tourism and other government agencies from central to local levels aimed at developing export on the spot and take Vietnam tourism development as right direction to reach more economic-social efficiencies Higher authorities – The Union of Vietnam Transport The Union is requested to facilitate allocation of finance for the company to implement expanding network and business development goals Also, the Union is requested to support VIETTRAVEL during process of organization structure strengthening; personnel and promoting in transport sector 61 CONCLUSION To survive and sustainable develop in the fiercely competitive environment today, VIETTRAVEL Co., Ltd likes any another business enterprise needs right business strategies and business plans for specific activities for its development period Spending years of operation, VIETTRAVEL has found the right way to develop and achieved significant successes thanks to promote its competitive advantage In the next period of 2010-2015 which defined challenging period but also provides many opportunities for businesses, the company should have a business strategy to ensure continuous development in the future context With topic "business strategy building for VIETTRAVEL in the period of 2010-2015", the Group hopes that this Capstone Project Report will bring practical value for VIETTRAVEL and also has small contribution to make Vietnam Tourism takeoff / 62 REFERENCES Strategic Management – Associate Prof PhD Ngo Kim Thanh & Le Van Tam (for pages 19-20); Competitive Strategy – Michael E Porter (for pages14-17); Strategic Management – Associate Prof PhD Le The Gioi, PhD Nguyen Thanh Liem & MBA Tran Huu Hai (for pages 10-14); The Ocean Blue Strategy – W Chan Kim & Renee Mauborgne; Document from VIETTRAVEL (for pages 23-24; 42-44;52-53); Vietnam Law on Tourism (for pages 61-63); and Other references from internet 63 APPENDICES I TOURISM CONCEPT NOTES According to Law on Tourism 2005, there are some concept notes as follows: Tourism means activities connected with trips taken by people outside their habitual residences aimed at satisfying their needs for sightseeing, study, leisure or recreation in a certain period of time Tourist means a person who travels for either tourism or for other purposes combined with tourism, except for those who go to study, work or practice their professions to get paid at the places of destination Tourism activity means activities of tourists, organizations and individuals doing tourism business, local communities, agencies, organizations and individuals engaged in tourism-related activities Tourism resources mean natural landscapes, natural elements, historical or cultural relics, and works of creative human labor or humanity value which can be utilized to meet tourist needs and constitute a fundamental factor to form tourist resorts, tourist spots, tourist routes or tourist cities Sightseeing means activities of a tourist during a day at a tourismresourced area in order to experience and appreciate the values of tourism resources Tourist city is a city having advantages to develop tourism and in which tourism plays an important part in its activities Tourist resort is an area which has attractive tourism resources, with natural tourism resources as its advantage, and has been properly planned and invested for development with the aim of meeting the various demands of tourists and bringing about socio-economic and environmental benefits Tourist spot means a place having attractive tourism resources that satisfy the sightseeing demand of tourists 64 Tourist route means an itinerary which links various tourist resorts, tourist spots and tourist service-providing establishments associated with land, rail, waterway and air transport routes 10 Tourist product means a combination of necessary services provided in order to meet the needs of tourists during a trip 11 Tourist service means the provision of services in travel, transportation, accommodation, meals and drinks, entertainment, information, guidance and other services to satisfy the needs of tourists 12 Tourist accommodation establishment means an establishment which rents rooms and beds and provides other related services for guests, of which hotels constitute a major form 13 Tour program comprises an itinerary and services at tour price which has been fixed in advance for a tourist’s trip from its beginning to end 14 Travel business means the formulation, sale and organization of a part or the whole of a tour program for tourists 15 Tourist guiding means an activity of guiding tourists under a tour program A person who conducts the guiding activity is called a tourist guide and is paid for the tour guiding service 16 Specialized means of transport of tourists is a means with sufficient conditions to cater tourist services, which is used to carry tourists under a tour program 17 Tourism promotion means an activity of public information, publicity and marketing aimed at seeking and stimulating opportunities for tourism development 18 Sustainable tourism means development of tourism that meets the needs of the present without harming the ability of the future to meet tourism needs 65 19 Eco-tourism means a type of tourism that is based on nature, connected with the local cultural identity and with the participation of local communities for the sake of sustainable development 20 Cultural tourism means a type of tourism that is based on the national cultural identity with the participation of local communities in order to preserve and bring into full play their traditional cultural values 21 Tourist environment consists of natural and social ones where tourist activities take place II COMPANY’S FINANCIAL STATEMENTS BALANCE SHEET 2007 Unit: VND Assets A Itinerant assets and short-term investment I Cash Cash at a fund (NP included) Bank deposit 3.Transfering cash II Amount of Short-term financial investment Short-term sercurity investment The other short-term investment Provision for devaluation short-term investment III Accounts receivables Customer receivables Prepay for supplier Deducted VAT Internal receivables Other receivables Provision for Accounts receivables IV Inventory Purchased goods in transit Code Opening number Closing number 100 2,403,426,573 2,097,019,549 110 111 112 113 80,936,773 21,169,717 59,767,056 - 1,004,457,610 430,923,261 573,534,349 - 120 - - 121 128 - - 129 - - 130 131 132 133 134 138 139 140 141 459,299,000 44,299,000 415,000,000 1,802,885,998 - 457,648,531 127,648,531 330,000,000 634,913,408 - 66 Inventory materials 142 - - 143 144 145 146 147 149 150 151 152 153 154 155 1,742,961,697 59,924,301 60,304,802 60,304,802 - 586,002,895 48,910,513 - 160 - - 161 - - 162 - - 200 1,059,636,113 1,539,340,428 210 211 743,500,000 743,500,000 1,240,631,558 1,240,631,558 212 1,376,406,363 1,883,237,921 - Depreciation of fixed assets Leased Fixed assets - The original price - Depreciation of leased fixed assets Intangible fixed assets 213 214 215 216 217 (632,906,363) - (642,606,363) - - The original price 218 - - - Depreciation of intangible fixed assets II Long-term financial investment 219 220 - - Long-term security investments 221 - - 222 - - Inventory equipments Work in progress Inventory end-product Merchandise inventory Goods in transit for sale Provision for devaluation of stocks V The other Itinerant assets Advance 2.Prepaid expenses Deferred expenses Pending defficiency assets Handled charge-off VI Non-business expenditures Last year expenditures This year expenditures B Itinerant assets and Long-term investment I Fixed assets Tangible fixed asset - The original price Contributed Joint-venture 67 Other Long-term investment 228 - - Provision devaluation of investment III Construction in progress 229 - - 230 - - IV Long-term collateral, deposits V Cost for Long-term Prepaid Total A Payable Liabilities I Current Liabilities Short-term loan Deadline for Long-term debt Payable for supplier Prepaid buyer Tax and pay for Government Payable for staff Payaable for internal division Other payable II Long-term Debt Long term Loan Long-term Debt III Other Loan Cost for payable Redundant assets 240 241 250 300 310 311 312 313 314 315 316 317 318 320 321 322 330 331 250,750,000 65,386,113 3,463,062,686 2,311,998,425 2,311,998,425 921,100,000 341,141,978 949,255,564 33,850,719 66,650,164 - 250,600,000 48,108,870 3,636,359,977 1,647,688,805 1,647,688,805 1,095,000,000 20,363,636 538,996,260 (23,572,321) 16,901,230 - 332 - - Long-term collateral, deposits 333 - - B Owner fund 400 1,151,064,261 1,988,671,172 I Funds Enterprise Capital Diffirential re-assess the asset 410 411 1,151,064,261 1,006,800,000 1,988,671,172 1,356,800,000 412 - - Exchange rate differences Fund of Development investment Fund of Financial provision Profits/distribution Investment fund for capital construction 413 414 415 416 144,264,261 631,871,172 417 - - 68 II Other Expenditure, Fund Provision Fund for Unemployment benefit Fund for reward and welfare Fund for management Fund for Non-business - Fund for Non-business last year - Fund for Non-business this year Expenditure for fixed assets Total Statements apart from Balance sheet Leased asset Process materials 420 - - 421 - - 422 423 424 425 426 - - 427 - - 430 3,463,062,686 - 3,636,359,977 - - - - - Consignment goods Handled debt Currencies Remain expenditure limits Basic Depreciation Capital BALANCE SHEET 2008 Assets A Short-term Asset (100=110+120+130+140+150) I Cash II Short-term financial investment Short-term financial investment 2.Provision for devaluation Short-term investment III Short-term Receivables Customer Receivables Prepaid for supplier Other Receivables Provision for short-term receivables IV Inventory Inventory Provision for devaluation inventory Code Opening number 100 2,765,095,905 2,097,019,549 110 120 121 146,781,956 1,004,457,610 129 130 131 132 138 139 140 141 149 69 Closing number 815,195,068 666,695,068 148.500.000 385.153.222 385.153.222 457,648,531 127,648,531 330,000,000 457,648,531 634,913,408 - V Other short-term asset Deducted VAT Tax Other shorterm asset B Long-term asset (200=210+220+230+240) I Fixed Asset The original price 150 151 152 158 - 200 1.417.965.659 1,539,340,428 210 1.115.777.739 1,240,631,558 211 1.883.237.921 1,883,237,921 Depreciation of fixed assets Capital construction Cost in progress 212 (767.460.182) (642,606,363) 213 - II Property Investmet The original price 220 - 221 - Depreciation III Long-term financial investment Long-term financial investment Provision for devaluation Long-term financial investment IV Other Long-term Asset Long-term Receivables Other Longterm Asset Provision for charge-off receivables Asset total (250=100+200) A Payable Debt (300=310+320) I Short-term Debt Short-term Loan Payable for suppliers Prepaid buyer Tax and Payable for staff Payable Other short-term receivables Provision for short-term receivables II Long-term Debt Longterm Loan and Debt Provision Fund for Unemployment benefit Other long-term receivables Provision for Long-term receivables B Equity (400=410+430) 222 230 231 - 239 - 240 241 248 249 250 300 310 311 312 313 314 315 316 318 319 320 321 302.187.920 302.187.920 4,183,061,564 756,532,840 756,532,840 660.668.675 29.251.624 66.612.541 3,636,359,977 1,647,688,805 1,647,688,805 1,095,000,000 20,363,636 538,996,260 (23,572,321) 16,901,230 - 322 - 328 329 400 1,988,671,172 70 3,426,528,724 I Equity Owner capital Surplus capital Other capital Treasury Stocks Exchange rate differences Owner funds Disposable profits distribution 410 411 412 413 414 415 416 3,426,528,724 1.956.800.000 1,356,800,000 - 417 1,469,728,724 631,871,172 II Fund for reward and welfare Total (440=300+400) Statements apart from Balance sheet Leased asset Process materials 430 440 4,183,061,564 3,636,359,977 - Consigned goods Handled charge-off Currencies Table 8: Balance Sheet 2007 & 2008 (Source: Accounting Department of VIETTRAVEL) 71 [...]... services can meet the demand equivalent to the products and services in the industry Competitive pressure primarily of alternative products and services is the ability to meet demand in the industry, adding other factors are price, quality and other factors of the environment such as culture, politics, technology will also affect the threat of alternative products and services 2.1.4 Internal environment... pressure affect directly on the entire production and business of industry Customers are divided into 2 groups of retail customers and distributor customers Both groups will pressure on companies about price, quality products, services by continue bargaining They are the persons who 19 control competition in the industry through their decisions of purchasing products and services When analyzing the distributors,... less pressure to industry will depend on the following factors: (i) The attractiveness of the sector: This factor is expressed through profit indicators, number of enterprises in industry (ii) The barriers to joining sector are the factors that make joining a sector more difficult and expensive 20 Threat of substitute products analysis Substitute products and services are products and services... environment, it should consider the new policies relevant related to State management; law on anti-monopoly, tax law; selected priority industries; Law on labor; the areas in which state management policies can impact operations and profitability of the ability of the industry or enterprises In addition, it should mention a series of problems that enterprises must face on a global scale related to politics... Quang Trung, Hai Duong, Hung Yen, Ha Tay, Thanh Xuan, Bac Ha Noi, Ha Noi, - Branches of Bank or foreign trade of Vietnam The objective of the company not only make a profit in the tourism industry brought economic benefits to the country and society but also desire to be really cultural bridge between Vietnam and countries in the region and the world With the motto VIETTRAVEL – New style creates success,... problem, VIETTRAVEL has continued improving the technological equipment; apply advanced technologies to enhance the service quality of products, costs of production to generate profits for the optimal business Recently, the company has invested in upgrading the Website to prepare for attracting inbound visitors via the Internet On the other hand, the devices of the card payment bank of Industry and... work, products or services changed or not? Technology change gets risk or not? Is there any overdue debt or cash flow? Are there any weaknesses with enterprise? Analysis often helps to find out what to do and turn weaknesses into prospects Internal factors need to analyze should include: enterprise culture and image, organization structure; key persons; ability to use resources; experience; capacity operation;... Center was strong enough to establish a company as VIETTRAVEL today In 2005, to meet demand for big volume of Chinese inbound visitors at that time, VIETTRAVEL established a representative office in Mong Cai and Lang Son In 2006, after two years confirmed the existence and development, VIETTRAVEL identified its strengths is organizing outbound tours VIETTRAVEL s customers are not just customers at the... activities for enterprise in product positioning, business orientation in the new context Through practice time at VIETTRAVEL, the Group found that VIETTRAVEL Directorate is too busy with current business activities and although there are many ideas for future development but they are still ideas in their mind, not specific business strategy Thus, the most important thing VIETTRAVEL should do in this... 9348498 Fax: 84 4 9344458 + Email: VIETTRAVEL@ Website: www .VIETTRAVEL. Total of employees in Hà nội: 45 for 5 departments: + Sales and Marketing Department + Operation and Tour guide Department + Trade service Department + Accounting Department + Administration – Personnel Department 27 1.2.2 Representative office in Hochiminh city + Address: 43 Hoang Du Khuong, 12 Ward, District 10, HCMC
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