ĐẠI HỌC QUỐC GIA HÀ NỘI TRƯỜNG QUẢN TRỊ VÀ KINH DOANH --------------------- PHẠM THỊ THÚY NGẦN BUILDING THE BUSINESS DEVELOPMENT STRATEGY FOR PASSENGER TRANSPORT ON ISLAND ROUTES IN QUANG NINH PROVINCE FOR HAVACO JSC DURING 2025-2030 XÂY DỰNG CHIẾN LƯỢC PHÁT TRIỂN KINH DOANH VẬN TẢI HÀNH KHÁCH CÁC TUYẾN ĐẢO TỈNH QUẢNG NINH CHO CÔNG TY CỔ PHẦN HAVACO GIAI ĐOẠN 2025-2030 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH Hà Nội - 2024 ĐẠI HỌC QUỐC GIA HÀ NỘI TRƯỜNG QUẢN TRỊ VÀ KINH DOANH --------------------- PHẠM THỊ THÚY NGẦN BUILDING THE BUSINESS DEVELOPMENT STRATEGY FOR PASSENGER TRANSPORT ON ISLAND ROUTES IN QUANG NINH PROVINCE FOR HAVACO JSC DURING 2025-2030 XÂY DỰNG CHIẾN LƯỢC PHÁT TRIỂN KINH DOANH VẬN TẢI HÀNH KHÁCH CÁC TUYẾN ĐẢO TỈNH QUẢNG NINH CHO CÔNG TY CỔ PHẦN HAVACO GIAI ĐOẠN 2025-2030 Chuyên ngành: Quản trị kinh doanh Mã số: 8340101.01 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: PGS. HOÀNG ĐÌNH PHI Hà Nội - 2024 GUARANTEE Comment [A1]: DECLARATION I hereby declare that this thesis is my own work. The results stated in the Thesis have not been published in any other works. The figures, examples and quotations in the Thesis ensure accuracy, reliability and truthfulness.
I have completed all the courses and have paid all the financial obligations as prescribed by Hanoi School of Business and Management - Vietnam National University, Hanoi. Therefore, I write this Declaration to request Hanoi School of Business and Management’s consideration so that I can defend the Thesis. My sincere appreciation! THE GUARANTOR Comment [A2]: THE AUTHOR Pham Thi Thuy Ngan i ACKNOWLEDGMENTS In order to complete my graduation thesis today, first of all, I would like to express my gratitude to the leaders of Hanoi School of Business and Management- National University of Hanoi as well as all the teachers who organized and facilitated this course. Thanks to you, I had the opportunity to gain comprehensive and in-depth knowledge about economic administration, which will be useful for my work and life later on.
I also deeply appreciate the dedicated guidance of Associate Professor Dr. Hoang Dinh Phi, who helped me complete my thesis. In addition, I would like to thank the leaders of the HavaCo Investment Joint Stock Company and related departments and offices for providing reference materials and factual data to help me complete my thesis. Finally, I would like to wish all the teachers, the staff and the principals of the school health, happiness, and success.
I sincerely thank you! Thesis author Pham Thi Thuy Ngan ii TABLE OF CONTENTS GUARANTEE. ii TABLE OF CONTENTS. iii LIST OF ACRONYMS. vi LIST OF TABLES.
vii LIST OF CHARTS. Research situation related to the thesis topic. Scope of research. 4 CHAPTER 1: THEORETICAL BASIS OF BUSINESS STRATEGY OF ENTERPRISES.
Theoretical basis of business strategy. The concept of strategy. The concept of business strategy (SBU level). The role and importance of developing a business strategy.
Characteristics of business strategy. The process of developing business strategies of enterprises. Mission and key objectives. Macro-environment analysis.
Industry environment analysis. Analysis of internal circumstances. Methods (Models) of Strategic Analysis. Choosing a business strategy.
ENVIRONMENTAL ANALYSIS AND BUSINESS STRATEGY CHOICE OF HAVACO COMPANY FOR THE PERIOD OF 2025-2030. Overview of HAVACO Company. History of formation of HAVACO Company. Company Organizational Structure.
Business results of HAVACO Company. The current situation of the business strategy planning at Havaco Company. Macro-environment analysis. Industry environment analysis.
Internal environment factors. SWOT matrix analysis. Analysis of proposed strategies. Strategy selection through QSPM matrix analysis.
PROPOSING SOME SOLUTIONS TO IMPLEMENT HAVACO COMPANY'S BUSINESS STRATEGY FOR THE PERIOD OF 2025-2030. Determining the vision, mission, and objectives of Havaco Company. Proposing solutions to implement strategy. Human resources-related solutions .2 Technology-related solutions.
Marketins-related solutions. Operating and organizing solutions. Petitions to the State. Petitions to the industry.
Petitions to the company. 98 v LIST OF ACRONYMS SBU : Strategic business unit WTO : World Trade Organization fixed assets : Fixed assets EFE : External Factor Evaluation Matrix IFE : Internal Factor Evaluation Matrix SWOT : Strengths – Weaknesses – Opportunities – Threats BCG : Boston Consulting Group Matrix GDP : Gross domestic product CPI : Consumer Price Index DL : Travel CP : Stock TMDV : Trade in services vi LIST OF TABLES Table 1. EFE matrix template. Competitive Profile Matrix template.
SWOT Matrix Template. BCG Matrix Template. QSPM Matrix Template. Production and Business Results of HAVACO Company.
Competitors of Havaco Company. Competitive Profile Matrix. Profit indicators of the company during the period from 2019 - 2022. Cost of goods sold to revenue ratio.
Ratio of expenses to revenue. Total asset turnover from 2019 - 2020. Inventory turnover in the period from 2019 - 2022. Debt-to-total asset ratio.
Debt-to-equity ratio. Debt service coverage ratio. Short-term payment ratio. Havaco's quick payment ratio.
Company equipment in 2022. Marketing budget structure in 2022. SWOT Matrix Analysis Table of HAVACO Company. QSPM Matrix - S-O Strategy Group.
QSPM Matrix - W-O Strategy Group. 75 vii LIST OF CHARTS Diagram 2. Organizational structure of the company. Business production activity results of Havaco Company.
Vietnam's GDP growth from 2019 to 2022. Havaco's staff structure from 2019-2022. Developing the Halong Bay Cruise Product. Research Rationale In the era of globalization, bilateral and multilateral cooperation between governments and businesses is growing strongly, while competition between businesses is increasingly fierce and complex.
In order to survive and develop, businesses need appropriate business strategies in the context of their limited resources Business strategy is extremely important for the survival and development of a company. It sets out major objectives, mobilizes short-term and long-term resources, and ensures that business plans are directed in the right direction. A good business strategy helps businesses dominate the market, expand market share, improve business efficiency, establish a solid and secure position, and proactively adapt to changes in the business environment. Competitive strategy helps businesses to capture and utilize market opportunities effectively and to gain competitive advantages in the market by applying the limited resources of the company to achieve the set objectives.
It helps businesses better prepare to reduce risks related to changes in the business environment and to control market developments. Havaco Investment Joint Stock Company is currently evaluated as one of the leading companies in the field of tourist transportation to Co To Island; however, there is no specific business strategy. Havaco's business now arises naturally from the undirected passenger needs of the service provider and its passive response to competitor policies. Therefore, the topic "Development of business strategy for tourist transportation to the island of Havaco Company in the 2025-2030 period" is necessary.
The author wishes help Havaco Company establish its vision and mission, identify opportunities that need to be grasped, strengths that need to be promoted, and at the same time recognize potential challenges and weaknesses that need to be overcome. The research topic also identifies the limited resources currently available to Havaco Company and explores how these resources can be used most effectively to gradually expand market share and develop sustainably in the period from 2025 to 2030. Research situation related to the thesis topic 1 The thesis topic "Developing a business strategy for Decotex Company's curtain products in the Vietnamese market until 2015" by author Huynh Thi Thien Chung: The thesis used the QSPM matrix to analyze the selection of applying blue ocean strategy. However, the value chain the author built for the development of the company's curtain products strategy did not add new value, but only relied on current factors in the industry.
The construction and direction of the strategy also did not entirely rely on the foundational theory of "blue ocean strategy" such as: the 4 action framework, redefining market boundaries, target customer segments. The thesis topic "Developing a business strategy for Saigon Transportation Mechanical Corporation's bus products from 2011 to 2020" by author Pham Vo Loc: The thesis analyzed SWOT and QSPM matrices to choose and build a strategy. However, buses are a product that not only simply affected by market supply and demand but also depended heavily on the State's development strategy for the transportation system. Therefore, the choice of the business strategy for this thesis will be greatly influenced by the macro-environment.
The thesis topic "Solution for building the Vifon brand in the 2008-2012 period" by author Nguyen Van Ut: Although this is not a research project about business strategy, the abundant and valuable data can serve as a valuable reference for my thesis topic. The thesis topic "An investigation of the strategic approach of a retail organization and study the blue ocean opportunities - A case study of Wilkinson Retails, UK" by author Gopinath Bukke: The author studied Wilkinson's competitiveness strategies to compare with blue ocean strategy. From there, they came to the current conclusion that Wilkinson is focusing on the low-cost strategy rather than differentiation. At the same time, with the characteristics of the retail industry in the UK, the author suggested that Wilkinson should change towards a blue ocean strategy.
Although the thesis did not about building a strategy, the way the author gathered and analyzed data to discover whether a company is pursuing a blue ocean strategy or not can be a valuable reference when constructing business strategy according to the blue ocean strategy theory. Research objectives Comment [A3]: Bổ sung cả Câu hỏi nghiên cứ Research Questions 3. General objective Contribute to perfecting the business strategy to enhance business efficiency, create high and sustainable development capabilities for the Company in the future. Specific objectives Systematize the theoretical and practical aspects related to the company's business strategy planning.
Evaluate the current state of business operations and the company's business strategy. Propose solutions to improve the company's business strategy for the 2025 - 2030 period to enhance the Company's business operations' effectiveness. Research subjects The research topic focuses on issues related to business strategy at Havaco Company and some business competitors in the same industry in Quang Ninh province. Scope of research Due to the wide range of business strategy planning, this thesis will only focus on researching the application of some analysis models to propose a business strategy for the company and build a business strategy for the company in the period 2025- 2030.
Research method - Approaches: The research topic utilizes a combination of approaches such as individual approach, historical approach, qualitative approach, and quantitative approach. - Data processing and analysis approach: The research utilizes descriptive, analytical, and synthesis statistical methods when evaluating the business operation results of Havaco Company; Utilizes SWOT analysis matrix, external factor evaluation matrix (EFE), internal factor evaluation matrix (IFE), and quantitative strategic planning matrix to assess the strengths, weaknesses, opportunities, and threats of Havaco Company. - Sources of information: The research uses information from textbooks, research documents, theses of some domestic and foreign authors as reference materials for the thesis. Additionally, the thesis also uses some books, newspapers, the internet, etc.
Thesis Structure In addition to the introduction, conclusion, bibliography, the content of the Thesis is structured into 3 chapters: Chapter 1: Theoretical basis of business strategy of enterprises Chapter 2: Overview of Havaco Company and the current status of business strategic planning at Havaco Company Chapter 3: Some solutions to implement the development of business strategy at Havaco until 2030 4 CHAPTER 1: THEORETICAL BASIS OF BUSINESS STRATEGY OF ENTERPRISES 1. Theoretical basis of business strategy 1. The concept of strategy The term "strategy" originated from the military field, indicating long-term and comprehensive plans based on the certainty of what the opponent can or cannot do.