STRATEGIC DIRECTION FOR THAIBINH TEA JSC UP TO 2020

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EXECUTIVE SUMMARY In opening country conditions, more expanding partnerships with many countries around the world, the domestic enterprises have advantages and disadvantages for achieving production efficiency. As one of many companies producing and trading tea, Thaibinh Tea Joint stock company had the significant contributions to the development and expansion of Vietnamese tea brand in the world. However, in the trend of increasingly fierce competition today, the Thaibinh Tea JSC should have strategies to develop stronger and made profit higher. After studying an overview of Vietnam''''s tea industry and the company, I decided to do a study with the subject "Strategic direction for Thaibinh Tea JSC up to 2020". Within the scope of the study is Strategic direction for Thaibinh Tea JSC up to 2020, I have generalized theoretical basis for strategy, business strategy, the factors affecting the strategy, the significance of the strategy and the necessity of formulating strategy to answer the research question: Which strategic theories are applicable for research? What are main opportunities & threats of Thaibinh Tea JSC? What are main strengths & weaknesses of Thaibinh Tea JSC? What are business strategy directions for Thaibinh Tea JSC from now to 2020? Thaibinh Tea JSC have participated in the tea market since 1966, the company has gone through many changes in both the type and structure of our country’s economy from mechanism of centralized planning to the socialist oriented market economy. Currently, the company has compact organizational structure of manufacturing, consistent with mission requirements, including a director of the company is responsible for operating the main and highest; two deputy directors are assistants to the director; Administrative and Organized Department with 5 staffs who advise the Director in the management of training and arrangement, 3 staffs in Marketing Department advise the Director in the development in the preparation of planning, organization planning; Accounting Department performs the function of advising the Director in the management and use of finance; Technical Department is responsible for the technical examination in the tea processing and after processing brought to consumption; Two main factories and workshops produce with modern equipment and machinery. After the process of understanding and analysis of the factors that influence, strengths, weaknesses, opportunities and threats of the company, I found the company should do marketing activities comprehensively and more reasonable. In the period 2013-2020, the company should focus on improving product quality, focus on research and development department. The company aims to expand the market so pricing strategies of companies in this stage may be lower prices to attract customers or overvalued at the beginning depends on consumer market and production costs of the company. Creating a distribution system more widely with many more participants and finding some new provinces and selling present product or services in new markets. To implement strategic direction, the company must do some solutions: Exploitation and management of funds by attracting investment capital from outside, mobilizing capital in the form of share, adjust the capital structure of the business and speed up capital rotation; The company should strive to reduce the cost of doing business, especially in selling expenses and transaction costs; about solutions of human resource, Establishment of boards for market research, customer demands, development of product, developing training policies, appointment, assessment, innovation salary, publicity and fair reward to stimulate and promote the creation of active employees; Recruitment, attracting talents from outside, moving the less capable staffs in other departments or reduction of payroll; We have to make our MIS department stronger because managerial level takes decision on the basis of information.; About technology solutions, the company needs to pay more attention to the products with large quantities, but at the same time pay attention to the variety of items to support each other in terms of finance and meet the increasing demands of the market. The company should cooperate to other companies in the industry to build the supply chain and with the State are responsible for insurance these channels. With a desire to contribute to the process of improving business performance in the company and with the knowledge studied in the university and spent time practicing at Thaibinh Tea, I really learn, find out to see reality more clearly the importance of the business strategy in the company in particular and business in general in the market economy. This is just my first research and with the short time so the reasearch certainly not avoid shortcomings. NATIONAL ECONOMICS UNIVERSITY NEU BUSINESS SCHOOL MA TRUNG HIEU STRATEGIC DIRECTION FOR THAIBINH TEA JSC UP TO 2020 MASTER OF BUSINESS ADMINISTRATION THESIS HANOI –2013 NATIONAL ECONOMICS UNIVERSITY NEU BUSINESS SCHOOL MA TRUNG HIEU STRATEGIC DIRECTION FOR THAIBINH TEA JSC UP TO 2020 MASTER OF BUSINESS ADMINISTRATION THESIS SUPERVISOR: PROF DR TRAN THO DAT HANOI –2013 ACKNOWLEDGEMENT The period of two years participating in the Master of Business Administration program (EMBA) organized by the Business School of the National Economics University (BSNEU) has provided me with the most advanced knowledge in business management I would like to take this opportunity to send my gratitude to all professors who have enthusiastically led me through all important subjects I have been equipped with numerous ways of scientific thinking and problem solving All these knowledge and skill in various fields from the program have helped me a lot in my current and future I would like to express my gratitude to my supervisor, Associate Professor, Doctor Tran Tho Dat for his assistance and guidance while I was conducting this thesis He has given me a lot of valuable advices from the beginning step of my study until the final writing He also helped me to search for documents and many other necessary items for the thesis I admire his knowledge, experiences in the fields of strategy study devotion to me I would like to thank all my classmates and staffs in Business School have helped me a lot and provided me a good condition for study, a friendly and open studying atmosphere Besides, we also exchanged working experience in different fields which will be very helpful in our future I also have received support from experts, managers and many colleagues in Thaibinh Tea Joint stock company Without their support, I could not have completed the study Last but not least, my great thanks to my family, my parents for their strong support throughout the course of my study TABLE OF CONTENTS TABLE OF CONTENTS .3 ABBREVIATIONS Figure 1.1: Research process Error: Reference source not found .6 Figure 2.1: Example of PEST strategy analysis framework (based on Johnson & Scholes 1993) Error: Reference source not found Figure 2.2: Porter’s five competitive forces (based on Porter 1980) Error: Reference source not found Figure 2.3: Porter’s Four Corners analysis framework (based on Porter 1980) Error: Reference source not found .6 Figure 2.4: The Value Chain Model Error: Reference source not found Figure 2.5: TOWS analysis Error: Reference source not found .6 Figure 3.1: The organizational structure of Thaibinh Tea JSC Error: Reference source not found LIST OF TABLE Table 2.1: TOWS matrix Error: Reference source not found Table 3.1: Business results of the Thaibinh Tea JSC Error: Reference source not found Table 3.2: Summary of general environment analysis Error: Reference source not found Table 3.3: External Factor Evaluation (EFE) Matrix Error: Reference source not found Table 3.4: Manufacturing output by the list products of Thaibinh Tea in 2012 Error: Reference source not found .7 Table 3.5: Sales revenue by products of Thaibinh Tea in 2012 Error: Reference source not found Table 3.6: Internal Factor Evaluation (IFE) Matrix 44 Table 3.7: TOWS Matrix applied to Thaibinh JSC Error: Reference source not found Table 4.1: Expected results of Thaibinh Tea’s business operations in the period 2013-2020 Error: Reference source not found .7 LIST OF CHART Chart 2.1: I E Matrix Error: Reference source not found Chart 3.1: Several indicators reflect business performance of Thaibinh Tea Error: Reference source not found .8 Chart 3.2: Employment structure by age of Thaibinh Tea JSC in 2012 Error: Reference source not found Chart 3.3: Employment structure by level of Thaibinh Tea (2012) Error: Reference source not found Chart 4.1: Distribution of Thaibinh Tea JSC to 2015 Error: Reference source not found EXECUTIVE SUMMARY CHAPTER - INTRODUCTION CHAPTER - LITERATURE REVIEW AND THEORETICAL BACKGROUND ON STRATEGIC DIRECTION .8 Strengths - S 19 Weaknesses – W 19 If strategic position lies down in blue squares, the enterprise can develop quickly If strategic position lies down in yellow squares, the enterprise can grow selectively If strategic position lies down in remaining red squares, it is the best for the enterprise to withdraw gradually .20 CHAPTER – BUSINESS ENVIRONMENT ANALYSIS FOR 21 THAIBINH TEA JOINT STOCK COMPANY 21 CHAPTER – RECOMMENDATIONS OF STRATEGIC DIRECTION AND PROPOSALS FOR THAIBINH TEA JSC UP TO 2020 52 CONCLUSIONS 65 LIST OF REFERENCES 68 GUIDELINES FOR IN-DEPTH INTERVIEW TO LEADERS 69 INTERVIEW TO THAIBINH TEA JSC EMPLOYEES 70 ABBREVIATIONS ISO JSC HACCP KCS MOF UNIDO : : : : : : International Standards Organization Joint stock company Hazard Analysis and Critical Control Point System Check the product quality Ministry of Finance United Nations Industrial Development Organization WTO : World Trade Organization LIST OF FIGURES Figure 1.1: Research process Error: Reference source not found Figure 2.1: Example of PEST strategy analysis framework (based on Johnson & Scholes 1993) Error: Reference source not found Figure 2.2: Porter’s five competitive forces (based on Porter 1980) Error: Reference source not found Figure 2.3: Porter’s Four Corners analysis framework (based on Porter 1980) Error: Reference source not found Figure 2.4: The Value Chain Model Error: Reference source not found Figure 2.5: TOWS analysis .Error: Reference source not found Figure 3.1: The organizational structure of Thaibinh Tea JSC Error: Reference source not found LIST OF TABLE Table 2.1: TOWS matrix Error: Reference source not found Table 3.1: Business results of the Thaibinh Tea JSC Error: Reference source not found Table 3.2: Summary of general environment analysis Error: Reference source not found Table 3.3: External Factor Evaluation (EFE) Matrix .Error: Reference source not found Table 3.4: Manufacturing output by the list products of Thaibinh Tea in 2012 Error: Reference source not found Table 3.5: Sales revenue by products of Thaibinh Tea in 2012 Error: Reference source not found Table 3.6: Internal Factor Evaluation (IFE) Matrix Table 3.7: TOWS Matrix applied to Thaibinh JSC Error: Reference source not found Table 4.1: Expected results of Thaibinh Tea’s business operations in the period 2013-2020 Error: Reference source not found LIST OF CHART Chart 2.1: I E Matrix Error: Reference source not found Chart 3.1: Several indicators reflect business performance of Thaibinh Tea Error: Reference source not found Chart 3.2: Employment structure by age of Thaibinh Tea JSC in 2012 Error: Reference source not found Chart 3.3: Employment structure by level of Thaibinh Tea (2012) Error: Reference source not found Chart 4.1: Distribution of Thaibinh Tea JSC to 2015 .Error: Reference source not found EXECUTIVE SUMMARY In opening country conditions, more expanding partnerships with many countries around the world, the domestic enterprises have advantages and disadvantages for achieving production efficiency As one of many companies producing and trading tea, Thaibinh Tea Joint stock company had the significant contributions to the development and expansion of Vietnamese tea brand in the world However, in the trend of increasingly fierce competition today, the Thaibinh Tea JSC should have strategies to develop stronger and made profit higher After studying an overview of Vietnam's tea industry and the company, I decided to a study with the subject "Strategic direction for Thaibinh Tea JSC up to 2020" Within the scope of the study is Strategic direction for Thaibinh Tea JSC up to 2020, I have generalized theoretical basis for strategy, business strategy, the factors affecting the strategy, the significance of the strategy and the necessity of formulating strategy to answer the research question: Which strategic theories are applicable for research? What are main opportunities & threats of Thaibinh Tea JSC? What are main strengths & weaknesses of Thaibinh Tea JSC? What are business strategy directions for Thaibinh Tea JSC from now to 2020? Thaibinh Tea JSC have participated in the tea market since 1966, the company has gone through many changes in both the type and structure of our country’s economy from mechanism of centralized planning to the socialist oriented market economy Currently, the company has compact organizational structure of manufacturing, consistent with mission requirements, including a director of the company is responsible for operating the main and highest; two deputy directors are assistants to the director; Administrative and Organized Department with staffs who advise the Director in the management of training and arrangement, staffs in Marketing Department advise the Director in the development in the preparation of planning, organization planning; Accounting Department performs the function of advising the Director in the management and use of finance; Technical Department is responsible for the technical examination in the tea processing and after processing brought to consumption; Two main factories and workshops produce with modern equipment and machinery 57 - Check the observance of the rules and technical processes, standards and manipulation of the workers during processing - Check the product quality before the import and export of finished goods warehouse Besides that, we have to focus in our research and development department We have to spend money in this department for invent a new technology or product It will increase our sales because we will be the only one who will offer that technology It will build up competitive advantage and market penetration 4.2.2 The price strategy Price is the cost what the customers have to pay in exchange with the company and it is determined by many factors The pricing in a competitive environment is not only important but also extremely challenging Thus, depending on the strategy, development stage, the company should provide appropriate price to offset the cost, get profit inline with the willingness of customers to pay for the products In the period 2013-2020, the company aims to expand the market so pricing strategies of companies in this stage may be lower prices to attract customers or overvalued at the beginning depends on consumer market and production costs of the company For using this strategy, we have to reduce our cost which decreases our profit margin like general and admin expense, interest expense and operating expense We are paying more 100 million VND in finance cost which belongs to markup long term and short term loans The second highest expense is interest expense which makes the income statement negative The third highest expense is general and admin expense which is base on salaries, rent repair, etc After cutting cost, we will be able to cut our product selling price which increases our sales and market penetration Company should be considered carefully and specifically calculated to provide appropriate price 58 4.2.3 Improving distribution system or Market Development or searching New Market In produce and business enterprise, the distribution system directly affect to the sales of the company The company has large and strict distribution system, will get higher results than others Distribution system of Thaibinh Tea JSC is too poor, small, only direct distribution channels and distribution level without the dealer level that only had booth to display, introduce products in Vietnam Tea Corrporation at 46, Tang Bat Ho, Hanoi Therefore, the company should consider about creating a distribution system more widely with many more participants - The company may expand distribution channels by seeking additional dealers in the province at that the company is distributing its products This is the market that the company is quite familiar so company will understand how the demand is Currently, in the domestic market, the company only distritubes in some provinces, maily in Quang Ninh and Lang Son and in other provinces, the consumption is very low, even seasonal as in Hai Duong Therefore, the company need to exploit the potential opportunities in these areas + The company should pay attention to expand the retail store just be able to directly consume the product just have introduced products for the company In addition, In this strategy, we have to find some new provinces and selling present product or services in new markets We have to take actions like targeting promotions, opening sales offices and creating alliances to operationalize a market development strategy The company should conduct research and distribute products to new markets as the other northern or central market and South by contracts with commercial firms or dealers product distribution Strategy for expanding market should be done in sync with market domiation strategy 59 4.2.4 Strategy for promotion, supporting to promote consumption of products Customers always have the desire to get the customer care services as comsuming a product Thus, promotion is essential to be able to consume more products - The company should implement well promotion strategy, sales supporting, further strengthen the propaganda activities, advertisement Towards quality ads, create a good impression for customer, making them want to try the company’s product - The company need to have policies about discount for customers who buy in greater numbers, with reasonable commission rate, with trial products, with great rewards on the holidays, the policy about payment for goods to more developed distribution system in order to expand the market for domestic consumption to other provinces across the country Must ensure supply according to customer requirements - For the overseas market, the company has only exported to Russia, China and Taiwan while Vietnam has exported to 110 countries and regions around the world So, the company needs to boost relations and measures to expand the market to other countries 4.3 Solution to implement strategic direction for Thaibinh Tea JSC 4.3.1 Exploitation and management of funds Capital of the company should be added for the purpose of ensuring funding for the needs and realities of the business process, at the same time increasing the financial autonomy that does not depend on the elements external requirements which requires the company need to some contents following: - Making feasibility project to attract investment capital, joint venture, or have plans with partners such as purchase of machinery, materials and technology then installment payment by the products so that additional own funds, contributing to business capital - The company can focus on mobilizing capital in the form of share to attract 60 idle capital among officials and employees - There are policies aimed at attracting capital through the process of internal profit distribution Ensuring capital sources and earned revenue for reinvestment (as necessary) on business activities - On the other hand, companies can apply for additional state funds and enlist the aid of capital * Adjust the capital structure of the business - Capital of the company is mainly fixed capital, current capital very small proportion (about 16%), replenish capital companies accounted for a large proportion, about 38% Company mobilizes capital primarily from officers and employees - Starting from the situation analysis and the situation management capital, of the company in recent years, combined with the opportunity to develop and mission requirements of the industry Product diversification is a crucial step for the company Thus, the revised capital structure, in particular, business capital is very crucial towards capital formation combined with distribution and capital restructuring * Speed up capital rotation The company should apply the appropriate form of payment to speed up payments, fast payback to facilitate transition into next cycle The speed depends on the payment method of payment, signed a contract with conditions to make timely payments, speed up rotation of capital and effective In addition, to speed up capital rotation needed to improve the efficiency of fixed assets and the selection of the appropriate method of depreciation 4.3.2 Solution of reducing costs The company should strive to reduce the cost of doing business, especially in selling expenses and transaction costs Since cost is a part which directly affects business profits Therefore, to increase profits, besides business efficiency, reducing the cost of doing business is an effective measure to improve financial capability To this, the company’s leaders need to coordinate directly 61 with the employee to find out irrationalities in the point of purchase and storage of goods Then classifying and implementing plans costs incurred during this stage About indirect costs such as administrative costs, this cost is very difficult to manage because there is no clear norm, especially other expenses in cost management So the best measures to saving costs is the consensus from the board to all employees must be aware of the cost savings in each task and their actions to use reasonable costs most 4.3.3 Solutions of human resource * Managerial officials - Establishment of boards for market research, customer demands, development of product In particular, this Board should be assigned and responsible for specific and clear direction from the board of directors - Improving managerial skills of officers, employees in the company, particularly for staff who works in marketing, market research, clients demand * The policies - Developing training policies, appointment, assessment officers and employees of the company - Innovation salary, publicity and fair reward to stimulate and promote the creation of active employees - Innovating assigning responsibility policies, administration and management, enhancing the independence, responsibility of the business segments, especially the executive department and management * The recruitment - Recruitment, attracting talents from outside, moving the less capable staffs in other departments or reduction of payroll To create a team of payroll staff have higher qualifications, to easily adapt to changes in the modernization of production with market requirements - Organizing communication system in tea area to the growers understands new information and timely produce with consumer tastes - The company should take the initiative in linking with other companies in 62 the industry to just learn more experience just minimizes competition through exchange programs, staff exchanges or cooperation in researching and launching new products 4.3.4 Solution of information systems We have to make our MIS department stronger because managerial level takes decision on the basis of information Management information system receives raw information from both the external evaluation of an organization It gathers data about marketing, finance, production, and personnel matters internally; and social, cultural, demographic, environmental, economic, political, government, legal, technological, and competitive factors externally Because organizations are becoming more complex, decentralized, and globally dispersed, the function of information systems is growing in importance 4.3.5 Technology Solutions In line with the specific processing technologies (technologies of Taiwan Oolong tea) in the factory, should pay attention to the type and quality of tea which are processed for output products properly, keeping quality reputation of tea Vietnam to Taiwan In the collaborative process, the company needs to understand the approach "secret" processing technology these teas The processing factories should be invested in long term with big funds so indispensable to assistance and management of the State This promises to provide a lot of high quality products In the coming years need to focus on building a processing factories of average size in the direction of producing products with export demand and consumption of large volumes The company needs to pay more attention to the products with large quantities, but at the same time pay attention to the variety of items to support each other in terms of finance and meet the increasing demands of the market The company should cooperate to other companies in the industry to build the supply chain and with the State are responsible for insurance these channels The state should have appropriate policies to the companies deduct part of the profits back to invest return for the tea growers through popular technical progress, 63 provide new seeds, invest to build its own model All measures aimed at stabilizing the tea materials and create better quality tea 4.4 Recommendations for building and implementing business strategies of Thaibinh Tea JSC 4.4.1 Petitions to the tea industry - Should issue documents on management of the production process, the quality of tea products, avoid duplication and create conditions for production and trading business Focusing investment and prioritizing this area because this is an area, is difficult, especially about the need for financial assistance and investment capital to enterprises overcome difficulties - Ministry of Agriculture and Rural Development, the corporation should have specific provisions in the joint venture between the companies in the industry, to create conditions for businesses have the ability to expand markets, increase market share 4.4.2 Petitions to the Government - About capital lending policy Lending interest rate of the bank has a large role in the economic development of the country With a reasonable level of interest rates will stimulate enterprises borrow capital to invest in the development of production which makes the economy growing Therefore, the government should have clear policies to avoid borrowing complicated, creating the conditions for businesses borrow as quickly as possible, helping them capture business opportunities State offered a moderate interest rates, avoid high interest rates - Improving the legal system Healthy competitive environment is desire of most enterprises, especially enterprises are small-scale operations such as Thaibinh Tea Healthy competitive environment helps companies reasuring production and business, promoting its advantages Prevent large companies overwhelms small companies, leads to exclusive production, purchase and sale of goods, destabilize the economy and causing damage to consumers Therefore, the state should quickly improve the legal system to create a healthy competitive environment for business activities 64 - Implement sync the policies of trade management A the current reality in Vietnam, it is influenced by market mechanism in a negative way, many businesses have run under the immediate profit and ignoring the rules of law, in violation of problems social ethics, there are nefarious acts, such as smuggling and tax evasion, making false information, the ad says so, say wrong, deceive consumers for illicit profits Therefore, a necessary requirement is that we must have now a system of sync laws on the management of the commercial sector to encourage the healthy development of trade in accordance with target oriented In summary, to improve business efficiency and competitiveness of the company, the company need to have coordination and close cooperation between the corporate strategy and the policy of the State The company's solutions are factors "need" and the policy of the State is a factor "enough" to facilitate Thaibinh Tea JSC has developed strongly, stablity and firmly in the future 65 CONCLUSIONS * About theoretically The research has been systematized the theoretical basis about the strategy and strategic management include: Definitions and roles of strategy and strategic management; roles of strategy and strategic management; analysis environment for business models: Model analysis for the external environment, internal environment model for analysis; Model selection for business strategy: TOWS Matrix, IE Matrix * About characteristics in production of the company Over 50 years of development, Thaibinh Tea JSC have more developed and continuously improved productivity and product quality Manufacturing output of the company is increasing, the revenue also increases As a result, the company’s products are more widely-known and popular, has foothold and a certain contribution in the tea sector in Vietnam Every year, the company contributes to addressing employment for over 80 employees, purchasing over 800 output for farmers and strictly implementation of tax obligations to the state * About the factors affecting the business strategy of the company The company participated in the tea industry for a long time, should have advantages and certain difficulties when engaged in manufacturing and trading in the current session The company has experience in the production and processing of tea, with its own brand, market and customers but also have own limitations, such as the business capital of the company is small, the recovery of which is slow, small distribution system, the marketing, sales promotion are not really effective the characteristics associated with macroeconomic factors such as politics, the law is unclear, erratic movements and prolonged economic recession and widespread micro factors such as competitors more and more powerful, customer requirements for products growing, increasingly difficult to find a reputable supplier, the quality greatly affect the efficiency of the company's tea business 2010-2012 66 * Strategic direction for Thaibinh Tea jsc up to 2020 After the process of understanding and analysis of the factors that influence, strengths, weaknesses, opportunities and threats of the company, I found the company should marketing activities comprehensively and more reasonable In the period 2013-2020, the company should focus on improving product quality, focus on research and development department The company aims to expand the market so pricing strategies of companies in this stage may be lower prices to attract customers or overvalued at the beginning depends on consumer market and production costs of the company Creating a distribution system more widely with many more participants and finding some new provinces and selling present product or services in new markets * Solutions to implement strategic direction for Thaibinh Tea Jsc up to 2020 To implement strategic direction, the company must some solutions: Exploitation and management of funds by attracting investment capital from outside, mobilizing capital in the form of share, adjust the capital structure of the business and speed up capital rotation; The company should strive to reduce the cost of doing business, especially in selling expenses and transaction costs; about solutions of human resource, Establishment of boards for market research, customer demands, development of product, developing training policies, appointment, assessment, innovation salary, publicity and fair reward to stimulate and promote the creation of active employees; Recruitment, attracting talents from outside, moving the less capable staffs in other departments or reduction of payroll; We have to make our MIS department stronger because managerial level takes decision on the basis of information.; About technology solutions, the company needs to pay more attention to the products with large quantities, but at the same time pay attention to the variety of items to support each other in terms of finance and meet the increasing demands of the market The company should cooperate to other companies in the industry to build the supply chain and with the State are responsible for insurance these channels 67 With a desire to contribute to the process of improving business performance in the company and with the knowledge studied in the university and spent time practicing at Thaibinh Tea, I really learn, find out to see reality more clearly the importance of the business strategy in the company in particular and business in general in the market economy This is just my first research and with the short time so the reasearch certainly not avoid shortcomings But that's all what I myself have tried to study, boldly offered my own insights Via this report, I sincerely thanks for helping hearted guidance of teacher Prof Dr Tran Tho Dat and all staffs and employees of Thaibinh Tea JSC who has facilitated, helped me to complete this topic 68 LIST OF REFERENCES Dao Le Cuong (2005), “The solutions to improve the business strategy of the Hanoi Trade corporation from now to 2010” Nguyen Sinh Cuc (2001), Tea production and exportation, reality and solution Vu Thi Thu Hien (2008), “Business strategies in the Glass Industry corporation” Nguyen Kim Phong (2005), Orientation and solutions to promote tea production to 2010 Peter Fitzroy, James M Hulbert and Abby Ghobadian, Strategic Management: “the challenge of creating value”, 2012 Philip Kotler and Kevin Lane Keller, A Framework For Marketing Management, Prentice Hall, 2012 Porter ME (1980), Competitive Strategy, New York, The Free Press Porter M The competitive advantage of Nations, Harvard Business Review, March 1990 Robert E Ankli, Michael Porter’s competitive advantage and business history, University of Guelph, 1992 10 Thompson JL (1993), Strategic Management: “Awareness And Change” New York, Chapman & Hall 11 Uma Sekaran and Roger Bougie, Research Methods For Business: “A skill building approach”, A John Wiley and Sons, Ltd, Publication, 2009 12 Vietnam Tea Association, Modernize equipment and technology for tea production 69 GUIDELINES FOR IN-DEPTH INTERVIEW TO LEADERS Question 1: What are opportunities of Thaibinh Tea JSC? And how does Thaibinh Tea have to to take advantages of these opportunites? Question 2: What are the challenges for Thaibinh Tea? And how does Thaibinh have to to reduce risks from external environment? Question 3: What are the weaknesses of Thaibinh Tea? And how does Thaibinh Tea have to to reduce? Question 4: What are the strengths of Thaibinh Tea? And how does the company improve? Question 5: What are the successes of Thaibinh Tea up to now? In order to reach greater achievements, what did Thaibinh Tea do? Question 6: What are the key products of Thaibinh Tea? Question 7: What is business strategy of Thaibinh Tea next years? For interviewing leaders, the author used all these questions above 70 INTERVIEW TO THAIBINH TEA JSC EMPLOYEES Is the Thaibinh Tea’s structure appropriate? Are job descriptions and job specifications clear? Is employee morale high? Are Thaibinh Tea’s quanlity and customer service good? Are Thaibinh Tea’s products and services priced appropriately? Does Thaibinh Tea Jsc have an effective advertising? Are facilities, equipment, and offices of Thaibinh Tea Jsc in good condition? 71 QUESTIONNARE TO CUSTOMERS AND AGENTS In order to gather information about the level of customer satisfaction with products and service quality of the company and gradually improve customer satisfaction, I respectfully receive feedback of customers on the following issues: He/she commented on the quality of Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high He/she has comment on the the price of Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high He/she comments on the discount rate of Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high He/she comments on the time delivery of Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high 5 He/she comments on the time payment of Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high He/she comments on attitude of the staff in Thaibinh Tea JSC compared with other companies: Very low Low Medium High Very high ... important subjects I have been equipped with numerous ways of scientific thinking and problem solving All these knowledge and skill in various fields from the program have helped me a lot in my... affect the success of the business So, to survive and grow, the businesses must determine for themselves the right strategic plan, if there is no strategic plan or wrong strategic plan, the company... used in economic and social field Generally, “strategy” was understood as trend and method to resolve long term and overview mission According to UNIDO definition: “Generally, a development strategy
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