1. EVALUATING BUSINESS STRATEGIES OF
INTERTEK VIETNAM TO BECOME NUMBER
ONE BRAND OUT OF THE ASSURANCE,
TESTING, INSPECTION AND
CERTIFICATION SERVICE IN VIETNAM
2. PART I . INTRODUCTION
1.1. Focus of the internship report
The financial crisis and global economic recession have had a significant
impact on the economies of countries such as Vietnam, which has also been
significantly affected by the COVID-19 pandemic. Because of the serious and
complicated nature of the financial crisis and economic recession, it has
impacted many industries and fields, including the field of assessment, which is
regarded as a key industry in the economy today.
Intertek Vietnam Limited is facing with the economic movement with many
difficulties and challenges posed by the crisis, and industry competition is
fiercer. The company is trying to find out for itself a relatively sustainable
business development strategy for the coming period.
During my work at Intertek Vietnam, I researched and learned about the
company's business strategy in the past time and found that there were some
shortcomings. With the desire to contribute some ideas to the development
and implementation of business strategies at Intertek Vietnam Limited more
and more perfect, I have chosen the topic: “Evaluating business strategies of
intertek Vietnam to become number one brand out of the Assurance, Testing,
Inspection and Certification service in Vietnam”
3. PART I . INTRODUCTION
1.2. Overview of Vietnam's inspection market
According to the most recent preliminary statistics from the
General Department of Customs, the total import and export value
of Vietnam's goods in the period of August 2, 2020 (from August
16 to August 31, 2020) reached $26,65 billion, a 12.6 percent
increase (equivalent to a $ 2.99 billion increase) over the
performance results in the first half of August 2020. The results
obtained in the second half of August 2020 increased the country's
total import-export value in the first eight months of 2020 to USD
337.23 billion, a slight increase of USD 2 million over the same
period in 2019. In which the total import and export value of foreign
direct investment (FDI) enterprises was 202.79 billion USD, down
4.8 percent (equivalent to 10.29 billion USD) from the same period
in 2019; the import-export value of domestic enterprises was
134.44 billion USD, up 8.3 percent (equivalent to 10.29 billion
USD) from the same period in 2019. The balance is due on August
2, 2020. The goods trade surplus was 3.33 billion USD, bringing
Vietnam's goods trade surplus to 3.33 billion USD in 8 months
4. PART I INTRODUCTION
1.3.1. Some overview about Intertek
Vietnam Limited
1.3.2 Functions of the company
1.3.3 Overall assessment of the company's
performance in recent years
1.3.4. Some inspection activities of Intertek
Vietnam Limited
1.3.5. Organization of the administrative
management apparatus of Intertek.
1.3.6. Business model
5. PART II MY ROLE IN THE
COMPANY
2.1. Job description
Inspection field: Consumer goods
Authorization: Soft line inspection certificates
Subject of inspection:
Methods and procedures of inspection
2.2. My main
job
Currently, I hold the position of Business
Manager
My main job is to review and approve
inspection documents
When assigned to inspect a source of goods, I
first ask my staff to conduct the assessment,
the inspector must fully prepare the necessary
professional tools, control the location down to
the source, and inspect the goods inspection of
source quality based on initial observations;
next is to conduct sampling to ensure the most
uniform sampling; at the laboratory, sample
analysis steps are performed to check all
indicators, quality requirements in accordance
with the contract; Seal, lead clamp the entire
sample and shipment.
2.3. Favorable conditions and challenges in
doing the tasks
2.3.1. Favorable conditions in doing the tasks
2.3.2. Challenges in doing the tasks
2.4. Basic solution and general achievement.
2.5. Personal assessment of job results and
experiences
6. PART III. DEFINITION OF TERMS
Intertek
Inspection
Business
Strategy
FDI
COGS
ITS
ANSI/ASQC
MIL-STD
BS
ISO
VND
ATM
EN71
ASTM
CPSC
RoHS
LG
GAP
IKEA
ROE
Co., Ltd
COVID-19
GDP
USD
ASEAN
WB
Nielse
7. PART IV. PROFILE OF MARKET
SERVED
4.1. Macro environment
4.1.1. Political environment
4.1.2. Economic environment
4.1.3. Social environment
4.1.4. Technological environment
4.1.5. Demographic environment
4.2. Microenvironment
4.2.1. Competitors
4.2.2. Supplier
4.2.3. Internal corporate organization
4.3. Internal business analysis
4.3.1. Human Resources
4.3.2. Services provided by the company
4.3.3 Financial situation
4.3.3. Competing capability
8. PART V. BUSINESS STRATEGY OF INTERTEK VIETNAM
LIMITED
5.1 Product strategy
5.2. Price Strategy
5.3 Distribution strategy
5.4 Promotion strategy
5.5 Service Process
5.6 People Policy
9. PART VI. EVALUATION
6.1 SWOT analysis
6.2. The need to build a business strategy
6.3 Business strategy implementation plan
6.3.1 Orientation, mission and development strategy of
the Company until 2025
6.2.2 Strategic objectives
6.2.3 Tasks to be completed by 2025
6.4. Expected results of strategy implementation
10. PART VII . SOLUTION TO BECOME A NUMBER ONE
BRAND OUT OF THE ASSURANCE, TESTING,
INSPECTION AND CERTIFICATION SERVICE IN
VIETNAM
7.1 Solutions to promote inspection services at the company
7.1.1 Solutions for research and develop market
7.1.2. Product policy: Certificate of inspection
7.1.3. Price policy: Inspection fee
7.1.4. Customer Policy
7.1.5. Promotion policy to support business: Exploit, advertise
7.2. Timely handling of errors in inspection
7.3 Information technology solutions
7.4. Build a good relationship with the State management agencies
7.5 Solutions for training high-quality human resources
7.6 Invest in technical facilities
7.7. Expected business results
11. PART VIII. CONCLUSION AND
RECOMMENDATIONS
8.1 Conclusion
Theory and practice prove that business strategy has an important role in the operation of enterprises in the
modern economy, deciding the success or failure of the Company for the longest time and in the current Covid-
19 epidemic situation. First of all, the business strategy helps the business to realize its purpose and direction,
which is the basis and guideline for all activities of the business. Moreover, the economic crisis is a threat to the
survival of many businesses, the business environment is changing a lot, and the business strategy will create
conditions for businesses to grasp and take advantage of business opportunities while proactively finding
solutions to overcome and overcome risks and threats in the competitive market. Therefore, all businesses must
find a new development direction, improve their competitiveness and find a suitable position in the current
market.
The practice of enterprises in the industry of assurance, testing, inspection, and certification has shown that if
an enterprise has the right business strategy, has a broad vision, and high practicality, it creates thinking in
action to guide to specific strategic goals, the enterprise will succeed in today's competition.
Intertek Vietnam Limited is also trying to improve its competitive position through building the right business
strategy, suitable to the current business environment and economic context and that will be a very important
task that needs the drastic efforts of all employees in the Company.
With the knowledge and knowledge learned at school, on the basis of using a combination of research
methods, I have completed the research paper and completed the following main tasks:
1/ Contribute to the generalization and systematization of the theoretical basis related to the business strategy
for each enterprise. Clearly analyze the process or requirements when developing and implementing a business
strategy.
2/ Analyze the overview of Intertek Vietnam Limited and clearly analyze the business environment of the
Company, assess the current situation of the process of strategy formulation and implementation at the
Company, thereby pointing out the remaining aspects. What needs to be overcome in the implementation of the
Company's business strategy in the next time
3/ from the above-mentioned theoretical and practical bases, stick to the goals and tasks set by the Company in
the coming time, propose solutions to improve the efficiency of the current business strategy of Intertek Vietnam
Limited
12. PART VIII. CONCLUSION AND
RECOMMENDATIONS
8.2. Recommendations
In order for the assessment service to develop in the coming time, it is recommended to improve the legal
regulations on commercial assessment according to the following contents:
Completing regulations on the organization of registration of professional seals: Expanding the subjects
of application include traders under the provisions of the Commercial Law, enterprises under the
provisions of the Law on Commerce, enterprises in accordance with the Law on Enterprises,
organizations, and units established under decisions of competent state agencies and branches (if any).
Completing regulations on registration and use of professional seals: It is necessary to stipulate the
registration of professional seals with competent state agencies where the head office and branches
operate; specifying cases of common use and different use of professional seals.
Completing regulations on surveyor practice: Regulations on surveyor practice; registration, entrance
examination, examination and issue of professional certificates of assessors; annual professional test.
Only persons with professional certificates of assessors may be recognized and appointed as assessors
of commercial assessment organizations. In case of a job transfer, with a valid vocational certificate, they
may continue to be recognized and appointed as an assessor of the place where they move to.
Completing regulations on management of commercial assessment certificates: Promulgating a
mechanism to control the conformity between the content of assessment conclusions with registered
expertise and expertise; prevent the issuance of fake certificates.
Completing regulations on obligations of commercial assessment organizations: Regulations on reporting
and statistical obligations on operation; the obligation to periodically train and improve the expertise of
assessors.
Completing regulations on the management system of organizations providing online commercial
assessment services.
Completing the policy of developing commercial inspection services, encouraging commercial inspection
organizations to apply ISO/IEC 17020:2012.