Download miễn phí Đề tài Valuating & Adjusting Strategy For Construction Installation & Industrial Material Company Limited
Table of content
Executive Summary 4
Chapter 1 – Introduction 5
I.1. Background 5
I.2. Operational Definitions 6
I.3. Problems Statement 7
I.4. Research Objectives 7
I.5. Research Questions 8
I.6. The importance of the research 8
I.7. Scope of Limitation 8
I.8. Structure of Thesis 9
Chapter 2 – Theory Review 10
II.1. Theoretical framework 10
II.1.1. Corporate strategy & role of corporate strategy in organization 10
II.1.2. Corporate strategy formulation 11
II.1.2.1. Diagnosis 112
II.1.2.2. Formulation 17
Chapter 3 – Environment Analysis
III.1. The societal environment (PEST Analysis) 19
III.2. Steel industry analysis 22
III.3. Opportunities and Threats 26
Chapter 4. Company analysis . .268
IV.1 Brief information. . . .28
IV.2 Business Structure 28
IV.3. Internal Resources 30
IV.4. Strengths and Weakness 34
IV.5. Current Strategy 39
Chapter 5: Adjusting Strategy & Implemetation 387
V.1. SWOT matrix . . .37
V.2. Adjusting Business Strategy. .38
V.3. BCG matrix 39
V.4. Implementation 42
Chapter 6: Conclusion 44
VI.1. Conclusion 44
VI.2. Contribution 44
VI.3. Further researches 45
VI.4.Thanks .45
Reference/Bibliography 46
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Tóm tắt nội dung tài liệu:
ernal Threats (T)Internal Strengths (S)
SO "Maxi-Maxi" Strategy Strategies that use strengths to maximize opportunities
ST "Maxi-Mini" Strategy Strategies that use strengths to minimize threats
Internal Weaknesses (W)
WO "Mini-Maxi" Strategy
Strategies that minimize weaknesses by taking advantage of opportunities
WT "Mini-Mini" Strategy
Strategies that minimize weaknesses and avoid threats
II.1.2.2. Formulation
Formulation, the second phase in the strategic management process produces a clear set of recommendations, with supporting justification, that revise as necessary the mission and objectives of the organization, and supply the strategies for accomplishing them. In formulation, we are trying to modify the current objectives and strategies in ways to make the organization more successful. This includes trying to create "sustainable" competitive advantages -- although most competitive advantages are eroded steadily by the efforts of competitors.
A good recommendation should be: effective in solving the stated problem(s), practical (can be implemented in this situation, with the resources available), feasible within a reasonable time frame, cost-effective, not overly disruptive, and acceptable to key "stakeholders" in the organization. It is important to consider "fits" between resources plus competencies with opportunities, and also fits between risks and expectations.
There are three primary steps in this phase:
Identifying the directional strategy (grand strategy) for the company
It should be either (1) growth strategy: company can be promoted internally by investing in expansion or externally by acquiring additional business divisions or (2) stability strategy (pause strategy): the organization wants to remain the same size or grow slowly and in a controlled fashion or (3) retrenchment strategy: the organization goes through period of forced decline by either shrinking current business units or selling off or liquidating entire business.
Identifying the portfolio strategy for the company
After having the clear direction, it is the time to decide the portfolio strategy of the company which pertains to the organization’s mix of SBUs and product lines that fit together in such a way as to provide the corporation with synergy and competitive advantage.
Define new mission, goals for the company
After analyse all aspect of the business and select which businesses the company should develop, it is necessary that the new corporate strategy should have a new mission and goals.
Mission Statement
The new mission statement is the organization's new vision translated into written form. It makes concrete the leader's view of the direction and purpose of the organization. This mission statement should be a short and concise statement of goals and priorities.
Setting Goals
The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.
Chapter 3 – Environment analysis
III.1 The societal environment (PEST Analysis)
Political forces
Infant industry policy: Steel in general and steel products for construction and shipping industry in detail are strategy material for a country especially developing one like Vietnam. Government naturally always tries to protect domestic production. Before 2004, steel industry in Vietnam mainly concentrated on finished-good manufacture, which served construction industry. The input material for this manufacturing was mild foil. Almost kind of the foil was imported from outside, up to 90% of demand. Government implemented infant industry policy through tariff tool. Bellow is the table that describes movement of tariff policy from 2001 to 2009
Year
2001
2002
2003
2004
2005
2006
2007 - Dec 2008
Nov-
2008
2009
product
March
July
Foil
10%
5-10%
3-5%
0%
10%
10%
2%
5%
0%
8%
Rebar
40%
5-40%
5-20%
0%
20%
20%
10%
10%
15%
15%
Figurers 2: Tariff on foil & rebar from 2001 to 2009
(Source: Gathered by author through VSA website)
The unstable tariff policy shows very clearly on the table. Rates changes from year to year or even increases and decreased in the same year. Especially in 2004 the tariff rates was down to zero percent in March and rose up again 10% for foil and 20% for rebar in July. The same story happened in November 2008 when tariff rate on foil decreased from 5% to 0% and increased to 8% in 2009, just one month after.
There are 03 situations leading decision of Government to increase or decrease tariff on foil and rebar
- a) Shortage foil or domestic price higher: reduce tariff to encourage import (this normally lobbied by finished-goods manufacturers)
- b) Surplus imported foil or cheaper price: increase tariff to protect domestic foil manufacturers (lobbied by foil manufacturer)
-c) Shortage finished-good because a “fever” rebar and too high domestic foil price: decrease both of tariffs.
The unstable situation above caused by depending on outside resources and by conflicts between domestic manufacturers. The unstable tax policy strongly effected to market price and of course effected to trading companies. It brings opportunities of super profit and brings serious threats to a company like Cim Co whose revenue almost came from import and distribution activities.
Steel industry development policy: The orientation to export:
As said above, according to the Development Planning of VN Steel Industry in the year from 2010 to 2015 duration, Vietnam shall become steel export country. As planed in 2010, Vietnam shall export the first 500.000 tons steel products, which manufactured from domestic iron ore exploiting & processing industry.
Currently there are three huge complex projects on sifting - refining -laminating processes under construction in Vietnam: Thach Khe with capacity of 2.2 million tons, Van Phong 8 million tons, Vung Tau 2 million tons. When these projects fully come to operation with 100% capacity, domestic demand on input materials shall be sanctified.
Therefore, if the imported product price is not competitive, market share of importers shall be narrow strongly. Cim Co., Ltd with over 90% revenue from trading shall face to a threat of fierce competition. In addition, in long term, infant industry policy of Government shall really uphold because domestic producers supply enough crude material for inputs.
Economic forces
Monetary policy: In the year 2009, State Bank used primary interest as a tool to control monetary supply. The Bank issued ceiling loan rate equal 150% primary rate. In the first quarter of 2009, the rate was 7% it means commercial bank can not loan with rate over 10.5% and mobilizing rate was in range from 7% to 8%. This rate was not enough attractive to encourage people to deposit their saving money. From June commercial banks started a rising rate competition, at the end of the year mobilized rate maximum at 10.5% and bank system has to face with solvency problem. State Bank has reacted by increasing primary rate up to 8% from the first January 2010. This dynamic aimed to improvement the ability of mobilizing of banks. After this action, in February State Bank issued a document allowed commercial banks to loan with negotiable rate for medium and long term period and in March the Bank has shown its intend of remove primary rate regime. Immediately, loan rate on the market rose up to 18-20%. With this high rate, enterprises use the more loans will take the more burdens from capital expense. Cim Co., Ltd is a company which use high finance leverage; higher interest brings more difficulties for its business and investments.
Exchange rate: Right before the Traditional Holiday of Tet (February 2010), State Bank has issued an unexpected decision: Increasing exchange rate from 17.941 VND/USD to 18.544 VND/USD , this was the second time the Bank increased the rate and widen adjustment range for commercial bank within 6 months. The free market rate at April 2010 shall be around 19.400 and seem to have an up trend in 2010. This dynamic of State Bank shows quite clearly the trend of free exchange rate policy in the near future, which is the hot topic during years. This trend shall effect to whole economy in two aspects: Increasing press to inflation & burdens of national dept.
Being importer Cim Co., Ltd shall get more difficult in competition with domestic producers about price in long term and in sort term it must pay more for payables in USD.
Inflation: In the two months at beginning of the year CPI indicator was 3.35 %, increased...