Bài Assignment mẫu: STRATEGIC MANAGEMENT VIETTEL TELECOM GROUP
Management is a process of manipulating various functions into a big picture of a business. A Strategic management requires managers to combine all range of business sectors into a set of identification which is to identify the strengths to maintain and the weaknesses to improve of an organization. This essay is a strategic analysis of Viettel telecom Group into its internal and external environment. The result of this essay is to express the suggestion to Viettel managing board the strategic implementation process. This process aims to maintain the leading position of Viettel within the domestic and international markets, and improve the management policies for future development.
TABLE OF CONTENTS
EXECUTIVE SUMMARY 1
TABLE OF CONTENTS 2
1. INTRODUCTION 4
2. VIETTEL – BUSINESS ANALYSIS 5
2.1. Overview about Viettel – Business nature 5
2.1.1. Vision 5
2.1.2. Mission 5
2.1.3. Structure of the ownership 5
2.1.4. Core competencies 6
2.1.5. Economic objectives 6
2.2. Balanced Scorecard 6
2.3. PESTLE analysis 8
2.3.1. Political factor 8
2.3.2. Economic factor 9
2.3.3. Social factor 9
2.3.4. Technological advance 10
2.3.5. Legal factor 10
2.3.6. Environmental factors 10
2.3.7. Overall discussion 11
2.4. Porter’s Five Forces model analysis 11
2.4.1. Explanation of 5 competitive forces 11
2.4.2. Threat of substitute 11
2.4.3. Industry rivalry 12
2.4.4. Power of buyer 12
2.4.5. Power of supplier 12
2.4.6. Threat of new entry 12
2.5. Strategy implementation method 12
2.5.1. Conduct annual goals setting 13
2.5.2. Conduct policy setting and support plan 13
2.5.3. Development of action plans, budgets and implementation process 13
2.5.4. Allocation of human resources, finance, facilities 13
2.5.5. Strategic commitment and implementation 13
2.5.6. Strategic inspection control, evaluation and adjustment in the implementation process 14
3. Recommendation and conclusion 15
3.1. Recommendation 15
3.1.1. Maintain the investment on expansion and the improvement of customer service quality and capabilities 15
3.1.2. Strategic plan of pricing policies for competitiveness and service flexibilities 15
3.1.3. Improving service quality via human resource strategic management toward changes 15
3.1.4. Financial management solution 16
3.1.5. Marketing solution 16
3.2. Conclusion 16
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In today’s dynamic market economy, the sustainability growth of a business requires a set of strategic management to ensure its presence in the marketplace. Literally, strategic management is considered as the process in which the manager formulates and allocate resources in order to achieve a goal of developing competitive advantages within the specific industry (Cox, Daspit, McLaughlin and Jones, 2012). This purpose of strategic management is to help an organization to plan for its future development and fulfill the gaps within the firm’s responsibilities. This plan is also considered as the direction for the organization and employees movement. The result from implementing the strategic management would be a greater operational efficiency, market share and profitability.
In this report, Viettel Telecom Group is taken into consideration for the strategic management analysis. There would be a top down analysis, from external environment analysis to internal environment analysis in order to figure out the appropriate balanced scorecard and strategic implementation of Viettel Telecom Group.
2. VIETTEL – BUSINESS ANALYSIS
2.1. Overview about Viettel – Business nature
In Vietnam, a shift from the command market to the market economy, domestic companies have faced many challenges in important administrative management. Organizations need to check and build critical equipment to be flexible enough to respond to market changes. Business processes must be identified based on the results of the survey and the strengths, weaknesses, quality and shortcomings of the business must be estimated to help the organization obtain general data about business situations outside and inside the organization.
The Vettel Group is one of the effective models for adapting to the market economy. In the past, Viettel was a small organization with many troubles and no market-known brands. Nowadays, It is currently one of the leading providers of media telecom services in Vietnam and on its way to the international market. In Viettel’s achievements, brand positioning has developed to the extreme.
A pioneer in modern and innovative technology applications, groundbreaking provider of solutions create new high-quality products and services at affordable prices to meet the needs and options of customer expectations. (Vietteltelecom.vn, 2019)
Being born in difficult circumstances with the spirit of soldiers, Viettel is not afraid of difficulties to reach out to distant lands, with philosophy “to the death to seek the way to survive” is well aware in the business, along with the attention and deep understanding of customers to continuously improve their products and services, Viettel is introducing its best to the world.
Caring innovator – Creativeness is to serve human beings
2.1.3. Structure of the ownership
Viettel is a defense economic enterprise with 100% state capital and is owned by the Ministry of National Defense. The leadership apparatus has included Major General Le Dang Dung the company general manager and 5 deputy general directors with the highest management function of the board of directors of the corporation
There are five deputy directors of the Viettel Telecom Group. Vietnam has assigned roles and responsibilities for the four major sectors of the Viettel Telecom Group Master Plan, which is domestic communications management, global market management, research and development management, and relationship management. Its main role is in military status.
2.1.4. Core competencies
• Practice is the standard for truth testing
• Mature through challenges and failures
• Quickly adaptive to change is the power of competitiveness
• Creativeness is to survive
• System of reflection
• East-West combination
• Tradition and method of soldier
• Viettel is a shared house
• Business philosophy
2.1.5. Economic objectives
Viettel Telecommunications Group continues to expand aggressively to a larger scale. In particular, in 2010, an increase of 16300 2G and 3G stations, accounting for 45% of the total number of existing stations of the total number of other mobile information service providers in Vietnam. Moreover, Viettel Telecom Group promises to increase investment in optical networks nationwide. This shows that, despite being a state-owned enterprise, Viettel has an effective strategy to become a leader in the telecommunications network infrastructure in Vietnam and in other invested countries.
Overall, although Viettel has been a late participator in the telecommunication sector, it has been ranked the first place in domestic, Vietnam market, as well as the winner in terms of telecom subscription in Cambodia and Lao. The previous report in 2010 recorded the revenue in Cambodia reached $161 million and $61 million respectively. Also in this year, telecom operator Metfone (Viettel’s brand in foreign markets) received the award for the best service provider of the year form Frost & Sullivan. Following successful strategies and tactics in the international market, Viettel Telecom Group is pushing to invest in new markets over Asia, the Americas and Africa.
2.2. Balanced Scorecard
Balanced scorecard is a system of strategic planning and management, used by business, nonprofit and governmental organizations to guide business operations according to vision and strategy of the organization, improve the efficiency of internal and external marketing, track the performance of the business compared to the target (Kaplan and Norton, 1996)
• Financial performance and the use of financial resources
Financial measures include factors such as fixed costs, depreciation expenses, return on investment, profits earned, revenue growth
• Organizational performance from the point of view of the customer
Customer satisfaction is an indicator of business success, because it directly affects both current and future revenue. This measure is to answer the question: How are customers seeing the business?
• The quality and efficiency related to our product or services
This scorecard refers to the internal business process. The indicators in this scorecard allow managers to understand the business situation, and whether the product or service meets the needs of customers.
Signs of a smooth operating business are gathered from many small indicators such as the growth rate of scale, the increase in the number of employees attached to the work, and the percentage of time for handling official duties are shortened.
• Human capital, infrastructure, technology, culture
This scorecard includes staff training and attitudes about corporate culture related to personal and business progress. With constantly changing technology, employees must be always ready to learn at any time. Indicators can be used to help managers allocate training budgets in the most effective and reasonable manner. In any case, the ability to learn and develop creates a solid foundation for the development of the business.
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