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Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020 Luận văn thạc sĩ Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020 Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020 Luận văn thạc sĩ Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020 Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020 Luận văn thạc sĩ Xây dựng chiến lược kinh doanh cho công ty cổ phần nhà và phát triển đô thị HUD tới năm 2020
Luận văn Thạc sĩ MBA Xây dựng chiến lược kinh doanh cho Công ty cổ phần Nhà Phát triển đô thị HUD tới năm 2020 Thesis title “BUILDING BUSINESS STRATEGY FOR HOUSING AND URBAN DEVELOPMENT CORPORATION (HUD) TO THE YEAR 2020” Page We would like to express our thankfulness to the lecturers, facilitators and experts of VNU for your enthusiastic provision of very important information and knowledge which help to equip us with new style and skills of management The changes in thinking and management style of ourselves and our colleagues, especially the effectiveness of the management work at our office during the recent time, are wonderfully crystallized from this important course Due to limited time, there are still some mistakes in the Project, even we commit that this capstone project is result of our real study and practice in HUD Corporation We would therefore like to welcome all recommendations and comments to perfect our Capstone Project on “Building business strategy to the year 2015 for the Housing and Urban Development (HUD)” Thank you very much! Page TABLE OF CONTENTS CHAPTER I KEY BASIC FOR A BUSINESS STRATEGY 1.1.Fundamental concepts of a business strategy 1.2.Strategy classification 1.3.Role of business strategy 10 1.4.Basis for building business strategy of an enterprise 11 CHAPTER II 24 INTRODUCTION AND ANALYSIS ON THE HOUSING 24 AND URBAN DEVELOPMENT CORPORATION 24 2.1 Establishment and development history of the Housing and Urban Development Corporation (HUD) 24 2.2.Analysis of the Corporation’s internal environment .26 2.2.1.Human resources 26 2.2.2.Financial resource 27 2.2.3.Technical – material facilities resources 30 2.3.Analysis of external environment 31 2.3.1 Analysis of macro environment 31 2.3.2.Industrial environment 37 CHAPTER III 44 BUILDING STRATEGY TO THE YEAR 2015 FOR HUD .44 Page 3.1Oriented development .44 3.2 Objective of HUD 44 3.3.1.EFE Matrix of HUD 44 3.3.2 IFE Matrix of HUD 45 3.3.4.SWOT matrix of HUD 46 3.6.Strategic solutions: 51 3.6.1.Human resources solutions 51 3.6.2.Financial solutions 51 3.6.3.Marketing solutions: .51 3.6.4.Investment solutions: 52 3.6.5.Organization solutions 53 3.7.The road map for implement strategy of HUD .53 Abréviations WTO HUD / HUD Corp PMU World Trade Organization Housing and Urban Development Corporation Project Management Unit AS Attractive score Page LIST OF TABLES Table 1.1: Strategy Management Model of F.David Table 1.2: Model of competitive forces of M Porter Table1.3: Competitors analysis Table 1.4: Model of IE Matrix Table 1.5: SWOT Matrix Table 2.1: Strengths and weaknesses of human resources Table 2.2: Capital Development Data Table 2.3: Capital mobilization in 2008 Page Table 2.4: Business results in recent years Table 2.5: Financial figures of the last two years Table 2.6: Strengths and weaknesses of financial sources Table 2.7: Strengths and weaknesses of technical and material facilities Table 2.8: Vietnamese GDP rate in recent years Table 2.9: Opportunities and threats for HUD Table 2.10: Factors affecting demand for real estate Table 2.11: Opportunities and threats of industry analysis for HUD Table 2.12: Competition criteria of HUD’s competitors Table 3.1: External Factors Evaluation Matrix of HUD Table 3.2: Internal Factors Evaluation Matrix of HUD Table 3.3: I.E Matrix of HUD Table 3.4: SWOT Matrix Table 3.5: Scoring criteria of strategy Table 3.6: Roadmap for making business strategy INTRODUCTION Circumstance, necessity and significance of the Project The economy of Vietnam is a market economy with the State management and the tendency to integrate into the global economy To exist and develop, every enterprise needs to have a strategy which is compliant to the integration trend and the common market development An enterprise without a good business strategy is like a boat without sailing and a strategy which is incompliant or carried out badly cannot help that get Page success in the competition market In other words, the destiny of an enterprise depends much on the making and management of its business development strategy The Housing and Urban Development Corporation (HUD) has been developing for 20 years Its existence and development associate with so many changes of our country, Vietnam At the moment, HUD Corporation is one of the leading corporations of Vietnam in housing and urban development To determine the correct business path for in the future, HUD Corporation is having its urgent concern of building a long-time, suitable and flexible business strategy to face the fluctuations of the business environment, to meet the increasing demand for urbanization and housing, making contributions to the national course of industrialization and modernization With this current situation and contribute the ideas to get HUD Corp have the vision and direction in the very competitive economic environment of , our group have chosen the Project “Building business strategy for the Housing and Urban Development Corporation (HUD) to the year 2015” Study Objectives With this capstone project, there are two objectives we would like to gain: Firstly, to build the business strategy for The Housing and Urban Development Corporation (HUD) based on the analysis of internal and external environment to realize the current strength, weakness as well as the threats and opportunities, which have influence on the Corporation Secondly, to propose measures to implement the suggested business strategy for HUD Study method In the study process, the capstone project uses the method of analysis and summary all the real information from the Housing and Urban Development Corporation, the specialty books on Strategy Management, Marketing, and Finance, the magazines, newspapers and internet information The Group has also conducted an investigation and collected the ideas and opinions of some individuals, organizations about the Housing and Urban Development Corporation and other current competitors in the market All the collected investigation papers, we use the method of statistic and summarization to form it in the project Besides that, our group also uses the comparison method, industry analysis and Page enterprises’ activities to gather and combine them with theory, reality to build the vision and strategy in the housing and urban construction industry Study object The Project learns about theoretical and actual issues in the process of building the strategy of the Housing and Urban Development Corporation Study Scope: Studying fundamental basis of the making of the business development strategy in a Corporation trading civil Studying the actual business development strategy of the Housing and Urban Development Corporation (HUD) Recommendations to complete the business strategy for the Housing and Urban Development Corporation (HUD) Structure of the Project Report: The report includes three chapters: Chapter I: Key basis for the business strategy Chapter II: Introduction and analysis of the Housing and Urban Development Corporation (HUD) Chapter III: Building the business strategy to the year 2015 for the Housing and Urban Development Corporation (HUD) Page CHAPTER I KEY BASIC FOR A BUSINESS STRATEGY 1.1 Fundamental concepts of a business strategy The term of “Strategy” was used firstly in the military from the years of Sixty of Twenty century This term was applied in the business field and from that “Business Strategy” was initiated However, the business strategy is being understood by the management peoples with the different ways This is due to the approaching ways to business strategy of them are different Chandler defined strategy as “identification of the basic long term goals and objectives, application of a set of actions and the allocation of necessary resources” (Chandler, A (1962) Strategy and Structure Cambrige Massacchusettes MIT Press) According to Fred R.David (2003), strategy is the means to achive the long-term targets Pursuant to Rudolf Grunig and Richard Kuhn (2003), strategy is long-period management direction to aim the accomplishment the goals, main purposes of an enterprise in long-term However, with many different ways and methods of understanding and approching, business strategy is implying the followings meanings: - Determining the maind and longterm target of an enterprise - Drawing the general programs of actions - Choosing the action plan, deploying to allocate the resources to implement that target 1.2 Strategy classification According to Ms Nguyen Thi Lien Diep and Mr Pham Van Nam (1997, Strategy and business policy), in the forming process of strategy, there are some types of it: - Company-level strategy: It is a model decided in a company This strategy to determine and draw clearly the targets, aims of a company, what is company pursuing and from that to create the policies and plans to achieve the target Page - Business-level strategy: It is strategy to aim to define the products or market for particular business activities for company Each units of business department will try to fulfill their target to contribute the accomplishment of company’s goal - Function-level strategy: This strategy is concentrating on the supporting of strategy organizations, co-ordination fields and business area 1.3 Role of business strategy Business strategy plays an important role in the company’s process of existence and development The details are followings: Firstly, strategy is a tool to summarize all the long term targets of company The target of company is the specific goad which company wants to achieve in the process of business activities The concretization, documentation all the company’s targets through the strategies help the members of company to know where they are going to, what they need, what they need to This to help the company to complete the target very clearly Secondly, strategy attaches with the short- term development target in the long- term circumstance In the modern business environment, almost companies should move actively and flexibly to the business environment However, the movement may be deviatory and destroy the long – term development That’s why strategy is very important and it creates the long – term orientation Strategy also contributes to the ensure the unity and orientation of the company’s activities In the history of existence and development, with strong allocation labor trend both in width and depth, all the works is being done in many different departments That specialization help to increase the effectiveness of the work, however, that department just care to improve business activities of itself only but not take care to other’s one and whole company’s Therefore, some activities may be an obstacle to each others and cause badly to company’s target Strategy will provide comprehensively and systematically in the problem solving in the reality to create the general strength of whole departments, whole members in the company From this it goes in one direction as company’s goal Page 10 CHAPTER III BUILDING STRATEGY TO THE YEAR 2015 FOR HUD 3.1 Oriented development Because the supply in recent years has not demand the higher and higher need of housing and urban, HUD orient to become the greatest supply housing and urban in Vietnam in years 3.2 Objective of HUD The objective of HUD is to achieve the profit which is higher than its industry profit rate, to preserve and develop the State capital invested in HUD 3.3 Building strategy 3.3.1 EFE Matrix of HUD According to the analysis of external environment of HUD above, we have EFE matrix as follows: Key external factors Demand for high urbanization development Level of importance 0.2 Ratio (Company’s Mark reaction level) 0.8 Page 44 Key external factors Science and technology development State supporting policies and lending capital sources People’s income, high population Inflation, economic crisis Environment effects Changing legal environment The industry is attractive and has high profit rate Weak pressures from buyers and sellers 10 Strong pressures from current competitors 11 Diversification of market segments Total Level of Ratio (Company’s Mark 0.08 reaction level) 2.9 0.232 0.15 3.8 0.57 0.15 0.08 0.01 0.08 3.2 3.2 1.8 3.4 0.48 0.256 0.018 0.272 0.06 2.6 0.156 0.01 2.5 0.025 0.1 0.3 0.08 3.4 0.272 3.381 importance Table 3.1: External Factors Evaluation Matrix of HUD With the total mark of 3.381, the Corporation is having rather good reactions to opportunities and challenges from external environment 3.3.2 IFE Matrix of HUD The Corporation’s strengths and weaknesses are put into the following matrix of internal factors evaluation Internal factors Level of Ratio (Company’s Mark 0.14 reaction level) 3.8 0.532 management quality Close control system, good business 0.12 2.3 0.276 operation and labor circulation Good capital sources, good liquidity 0.08 0.15 3.0 3.5 0.240 0.525 Plentiful human resources High qualifications of labor forces, good importance Page 45 Ratio Level of Internal factors importance (Company’s Mark 0.700 Good business results, high profits Effectiveness of cash flow and capital 0.20 reaction level) 3.5 usage Good facilities Modern machinery, advanced 0.12 0.05 2.0 2.8 0.240 0.140 construction technologies Total 0.14 2.1 0.294 2.947 Table 3.2: Internal Factors Evaluation Matrix of HUD With the total mark of 2.947, the Corporation has much strength in the respect of internal factors though there are still weaknesses 3.3.3 IE Matrix of HUD From the two tables above, we have the I.E Matrix as follows: The mark of IFE Strong 3.0-4.0 Medium 1.0 - 2.9 Weak 1.0 - 1.9 High 3.0 - 4.0 The mark of EFE Medium 2.0 - 2.9 Low 1.0 - 1.9 Figure 3.3: IE Matrix of HUD The matrix of internal and external factors shows that appropriate strategy for HUD is focus growth 3.3.4 SWOT matrix of HUD From the aforesaid analysis, we have the following SWOT matrix: Page 46 STRENGTHS (S) Having known by the WEAKNESSES (W) Workers not yet have trade mark in current high skills; management market in the recent years staff has not yet reached Plentiful human desired qualifications resources, suitable There are still problems organization structure Powerful financial SWOT MATRIX in the usage and transfer of sources, which meeting labor forces Not much investment in State requirements for big advanced machinery and projects Ability to mobilize technology Analysis, plans to capital for large effectively use capital is not implementation projects Relations with high government agencies and partners very well Have products with OPPORTUNITIES (O) Housing and urban high quality SO STRATEGIES S2, S4, S5, S6 + O1, O3, WO STRATEGIES W1,W2,W3 + O1,O4,O6: development is a burning issue O4: Creating luxury urban Improve the organization and a spearhead industry Stable economy and politics, developing science centers, building resorts at and training of human famous landscape, resources => Enhance hotels => competitiveness Strategy and technology There are many State Differentiation Strategy preferential policies for the O3, O5, O6 : S1, S2, S4, S5 + O1, O2, Expanding investment and industry Great demand of the people, implementation of the society together with the projects in other areas, Page 47 increasing income of the neighboring provinces => Market Development population and the social development in the open -door Strategy and integration course Pressures from customers, suppliers, subsitutional products, potential competitors are not high New technologies for design, construction, project management THREATS (T) Pressures from current ST STRATEGIES S1, S5, S6 + T1, T3, T4, competitors are high Possibility to lag behind in T5: Established division attracting human resources of specializing in the good quality due to a great management of real estate number of competitors Inflation and global => Vertical integration economic crisis in 2009 affect costs Integration process leads to international competitor from big corporations Policies, legal documentations not WT STRATEGIES W1, W3, W4 + T1, T2, T3, T4: Joint venture with foreign partners to implement the project => Joint venture Strategy Strategy S1, S2, S6 + T1, T2, T3, T4, T5: Introduction of new products, meet more needs of customers => Diversification of business Strategy synchronize Page 48 Table 3.4: SWOT Matrix of HUD 3.4 Strategies for HUD Through analysis and combining elements of the SWOT matrix, there are strategies for HUD to 2015 as bellow: 3.4.1 Differentiation strategy Taking the strength of plentiful human resources, suitable organization structure, high quality and burning in housing and urban industry, HUD can diffrerenlize product by creating luxury urban centres, buiding resorts at famous landscapes, hotels… 3.4.2 Market development strategy HUD has created its own trademark in the housing and real estate business industry while the market is still potential and a spearhead industry With powerful financial sources which can meet the State requirements for big projects so there are opportunities to approach great land sources, capital sources with preferential interests HUD has a plentiful labor force which is ready to serve and meet the requirements for many projects with the high demand of the people and the society 3.4.3 Enhance competitiveness strategy Housing and urban development is developing with greater and greater demand but workers are not yet skillful enough Science and technology is developing but the Corporation not yet invests a lot in advanced machinery and technologies to meet the environmental requirements in construction The capacility of analysis, making plans to effectively use capital is not high In oder to limit these weaknesses and take advantage of opportunities, it takes a lot of time 3.4.4 Vertical integration Strategy An important activity in the vertical integration strategy is to strengthen the existing products, improve the management process to strengthen the financial investment, human resources, to achieve robust stability of the activities of the core of the company Page 49 3.4.5 Diversifying business Strategy Implement this strategy by diversifying the products of their property, HUD will offer a variety of real estate products to further meet the needs of customers Clearly define each group of customers to make products fit, improved from the quality improvements in each product to meet the diversified demands of customers Implementing the investment finance for the sector, products and services related to real estate: offices for rent, luxury apartments for rent, and lease the conference 3.4.6 Joint venture Strategy Joint ventures with foreign partners and to make some real estate projects Corporating to well-known real estate firms, HUD can learn experience of project management, technology and strong financial resources of these groups 3.5 Selecting Strategy for HUD Based on the criteria by Board of Directors has determined, based parameters evaluated elements inside, outside, model SWOT Matrix, the authors have table as follows: Factors Gain Risk Expense Appropriate Time bound Total marks Rate 0.2 0.3 0.2 0.2 0.1 Differencelize Market Enhance Vertical Diversify Joint products developme competitiven integration business venture Strategy nt Strategy ess Strategy Strategy Strategy Strategy 4 21 4 3 17 3 4 18 0.8 0.9 0.6 0.8 0.4 3.5 1.2 0.8 0.6 0.5 4.1 0.8 0.9 0.8 0.6 0.3 3.4 4 19 0.6 1.2 0.6 0.8 0.5 3.7 2 16 1.5 1 0.5 5 18 0.8 0.6 0.4 0.5 3.3 Scale: 0.1 Weakest; 2.3 = Average, = Good; = Very good Table 3.5 Scoring criteria of Strategy Table grading factors with reference to the consultants with HUD strategy planning, Group has been the choice for business strategy for HUD is market development Page 50 3.6 Strategic solutions: To develop with the current opportunities and threats, the Corporation needs to use strengths to take advantage of the opportunities 3.6.1 Human resources solutions - To provide training courses to improve workers’ skills and qualifications - To provide refreshment courses on management quality and operation improvement - To build up the Corporation a learning organization with an open working atmosphere to create a good working environment to attract and maintain talented staff - To enhance capacities of staff, from management level to workers so that they can directly deal with all stages of investment projects, from investment preparation, investment implementation and project completion according to the State laws and regulations 3.6.2 Financial solutions - To focus on capital sources, efficiency of capital sources spending - To make plans for expenditures, capital arrangements and effective circulation of cash for each project - To strictly manage over input costs, corporate management costs in order to push up turnover for more profits 3.6.3 Marketing solutions: - Marketing activities should always be a step forwards The acknowledgement and making use of this concept is of extreme importance, especially for big investments activities such as the building up of new urban areas, or those with long-time investment, complicated products and difficulties to avoid and overcome errors - To ensure sufficient conditions and sources for marketing management at all levels in the professional and modern manner - To regularly evaluate the efficiency of marketing management in order to find out strengths to develop and weaknesses to overcome - State regulations on housing business should be perfected to create pressures, environment and conditions for marketing management to promote its role in enhancing the competitiveness of the Corporation Page 51 - To carry out market studies in the whole country To study the population, social issues, geographical characteristics, habits, traditions, economic characteristics and development tendency of each locality - To make studies and analysis of approved planning to find investment opportunities for housing and urban development; To exploit with the most effectiveness areas allocated by studying and designing properly; To take part in the development of housing fund of the City - To balance economic, financial, technical and labor capacities in order to define investment projects to be developed in year, years and 10 years - To make short-term and long-term financial and operation plans 3.6.4 Investment solutions: - To collaborate with relevant bodies to solve difficulties, speed up investment preparation, site clearance of feasible projects which already get agreements on location where there is high demand for housing - To make investment plan in economic zones, industrial parks in compliance with the common progress of development of these areas in order to meet the demand for housing of workers, laborers in the future when the areas are put into operation - To study and propose to State competent authorities policies and mechanisms to push up housing development industry - To speed up current projects which are feasible with short payback period In 2009, the Corporation has studied and invested in 71 projects with the total investment capital of 4,400 billion Vietnamese dongs Of which, projects are completed in 2009, 15 on-going projects, projects are newly started, 42 projects are under research and investment preparation The Corporation has put into operation Song Thao Cement Plant with the success of the implementation of the EPC pilot model and the program on domesticization of cement mechanical and machinery manufacture + To develop social housing: this is a new market segment to meet the demand for housing of the majority of population This field has been receiving a lot of State tax, policy and credit incentives In November 2009, HUD Corporation held the groundbreaking ceremony of the Welfare Housing Project in Chanh My-Binh Duong Ecological Page 52 Urban Area, consisting of blocks of 12-storey buildings, 1,507 apartments, 95,000m floor areas In December 2009, it started the social housing project in Le Thai To – Bac Ninh Province New Urban Area, consisting of: blocks of 6-storey buildings, 220 apartments, 17,00m2 floor area The Corporation is preparing for a social housing project in Thanh Lam-Dai Thinh New Urban Area, housing project in Chi Tien commune, Yen Noi commune - Thanh Ba-Phu Tho District - Hanoi, consisting of blocks of 4-storey buildings, a kindergarten, a cultural house, a medical station, 96 apartments, 5,750m floor area Besides, the Corporation is studying social housing programs in Thanh Hoa and Da Nang provinces; building houses for students in Phap Van, My Dinh I projects with the Hanoi Department of Construction as the investor The Corporation also delivers 82,000m2 non-refundable areas at Phap Van, My Dinh II, Viet Hung projects to the Hanoi authority for building social housing + To invest in some big projects: These are big projects of high economic efficiency and good trademark for the Corporation It focuses on the market segment of superior products to improve its capacities (HUD Tower is a 32-storey office building of Grade A, Anh Duong Project in Da Nang which is a 45-storey apartment building on the beach, CC2 Van Quan building with 36 storeys) 3.6.5 Organization solutions - To unceasingly perfect the management system, check the functions and duties of each department in order to perfect the organization of an enterprise specializing in housing and urban development - To promote business and production activities which support housing business of the Corporation such as: designing, construction, material production, management services …, especially perfect the model of professional housing and urban services management 3.7 The road map for implement strategy of HUD - Firstly, the Corporation’s members must be strong, of which 100% State-owned enterprises must play the decisive role At the same time, the Corporation concentrates on the following investment directions in the coming period: investment together with Page 53 sustainable development, attaching special importance to economic effectiveness, preserving and growing capital, and diversified business To follow these directions, each member company has to make use of its internal forces, mobilize all capital sources, actively apply new construction technologies, invest in modern equipment and machinery, push up decentralization with responsibilities of investment and construction partners, reduce administrative interferences in specific activities./ Table 3.6: Roadmap for making and implementing strategy Items of Work Human resources Targets Time to Requirements Department in - Workers have implement Yearly from - Organizing charge Human resources skillful 2010-2015 training department qualifications - Excellent courses - Rewarding heads management team - Being an eager- good samples - Organizing to-learn skill contest - Hiring organization of and other departments counselors, Finance - High profit - Good capital spending - Investing in good Investment projects - Making the most of State incentive policies trainers Yearly from -|Saving costs - Increasing 2010 - 2015 turnover - Increasing 2010-2011 Financial department and financial board debt take-back - Updating State information and data on planning, site clearance Page 54 Marketing - Making Corporation the Yearly from - Making to 2010 - 2015 marketing have long and firm strategies and position market – Creating plans - Carrying out connections marketing between strategies and and in the business production Marketing and IT departments plans activities and the market Page 55 CONCLUSIONS Real estate investment and business is a young economy in Vietnam During the recent time, it has only been developing in Hanoi and Ho Chi Minh City In the circumstance of economic integration with the participation of a number of foreign powerful real estate corporations which are very strong at finance, technology and management, the competition will be more and more severe This requires to make the Corporation a powerful economic organization which can gather some other companies in the industry to form a holding corporation Though this organization model is still new in Vietnam with pilot implementation in different sectors, this will surely the development trend to reach strategic objectives: to develop the market, to take part in the adjustment of prices in the real estate market and to develop the society together with the Corporation’s development Page 56 REFERENCES Chandler, A (1962), Strategy and Structure, Cambrige Massacchusettes MIT Press) Dao Cong Binh (2007), Implementing Business Strategies, Youth Publishing House Fed.R.David (2003), Overview of Strategy Management, Statistics Publishing House Nguyen Canh Chat (2009), Strategic Market Management, Labor and Social Publishing House Nguyen Thi Lien Diep, Pham Van Nam (1997), Business Strategies and Policies,, Statistics Publishing House, Hanoi Overview about strategy management book – National Economy University Pham Thi Thu Phuong (2007), Strategic Management in Global Economy, Science and Technology Publishing House Nguyen Bach Khoa (1999), International Business Strategy, Education Publishing House, Hanoi 2005 Housing Law 10 Law on Real Estate Business 11 Decision No 76/2004/QĐ-TTG dated 06/5/2004 approving the directions for housing development to the year 2020 12 Ministry of Construction (2004), Directions for housing development to the year 2020, Hanoi 13 Housing and Urban Development Corporation (HUD), 2007-2009 Reports 14 Michael E Porter (1985), Competition Strategies, Free Press, New York 15 Michael E Porter (2008), Competition Strategies, Youth Publishing House Page 57 16 Garry D Smith, Danny R Arnold, Bobby G Bizzell (2003), Business Strategies and Tactics, Statistics Publishing House 17 Rudolf Grunig and Richard Kuhn (2003), Building Strategy, Science and Technology Publishing House 18 The World Fact Book, provides information on the history, people, government, economy, geography, communications, transportation, military, and transnational issues for 266 world entities 19 Websites: - www.vnexpress.com; - www.na.gov.vn; - www.mof.gov.vn; - www.vnexpress.com; - www.hn.gov.vn; - www.autointell.com; - www.construction.com; - www.building.co.uk; - www.investinvietnam.vn - www.hud.com.vn Page 58 [...]... diversification or trademark loyalty (It is the buyers’ love for existing products as they believe those products are special A firm can create trademark loyalty by continuously promoting, registering and protecting patent of its products; improving products’ quality through research and development programs; strongly focusing on product quality and after sale services The trademark loyalty causes difficulties... perfect strategy, it is needed to determine the ability, weakness of company’s finance It shows by Page 18 some major financial figures such as liquidity, ratio of asset, equity, profit This will help to build the strategy and perform it better and more feasible 1.4.2.3 Marketing Studying the marketing to realize the market chances, market segments to choose the targeted market and market orientation... WT Strategies Listing the Exploiting opportunity to fill seats Overcome weaknesses weaknesses of weaknesses and overcome weaknesses in order to reduce risk SWOT MATRIX to take advantage of the opportunity Table 1.5 SWOT MATRIX 1.5.2 Tools of strategy selections 1.5.2.1 Selection criteria: To choose strategies for businesses that has identified the criteria chosen strategy to ensure the requirements:... Corporation’s internal environment 2.2.1 Human resources HUD Corporation has recruited and trained a great number of cadres, of which the majority is university and post graduates with experience in carrying out big projects At the time being, the Corporation has 1,428 staff, of which 306 are female, with the following qualifications: - Post graduates: - University graduates: - Junior College graduates: - Others:... 399 320 1.95 2.1 2.3 6,124 8,603 million dongs/person 2,313 120 (Source: HUD, 2007, 2008, 2009) Page 28 Table 2.5: Financial figures in the recent two years Figures 1 Liquidity Short-term Payment Coefficient (times) Quick Payment Coefficient (times) Debt Payment (times) 2 Capital structure Debts/Total Assets Debts/Equity Equity/Total Capital Source 3 Operation Capacities Total Assets Turnover (period/year)... Profit Margin Net Profit/Net Turnover (%) Net Profit/Total Assets (%) Net Profit/Equity (%) Net Profit Margin/Sales (%) 2007 2008 1.21 0.58 8 1.11 0.46 26 0.71 2.43 0.29 0.69 2.26 0.31 - 0,34 5,53 128 219 25 346 9,1 3,93 13,48 16,77 14,8 4,47 14,55 13,19 (Source: HUD, 2007, 2008, 2009) Payment figures show that HUD s liquidity is quite good It is in safe position by the end of 2007 and 2008 The quick payment... less labor with low cost and long duration and more quantity The development of technology has gradually improve the quality of housing design, architectural spacing, apartment structure, construction quality and usage of construction materials suitable to the environment, the Page 35 regional climate and the common development level of the society It also creates favorable conditions for the application... located, economic efficiency and feasibility of projects 2.2.2 Financial resource The Housing and Urban Development Corporation (HUD) is a 100% State-owned enterprise, specializing biggest real estate projects in Vietnam Capital is a very important factor for all enterprises, especially in construction industry At the moment, the Corporation has its own equity of 1,800 billion Vietnamese dong (equivalent... recent time, the Corporation has successfully kept its stability and development despite of financial crisis and stand-still real estate market to be initiative in financial potential for investment Table 2.2: Capital Development Data No I II 1 2 3 4 III IV Items Opening shareholder equity Annual growth Additions from other sources of own equity Additions from annual profit 2007 1,086 335 165 170 2008... companies Additions from implemented projects Closing shareholder equity Planned investment capital 2009 1,856 2,191 0 341 150 1.700 4,047 6,060 (Source: HUD, 2009) In 2008 alone, the mother Corporation itself created the capital flow of VND 4,685 billion Page 27 Table 2.3: Capital Mobilization in 2008 No 1 2 3 Items Sales revenue Equity Credit loans Total Amount Percentage per total capital flow (billion