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Luận Văn Group viết thuê luận văn thạc sĩ,chuyên đề,khóa luận tốt nghiệp, báo cáo thực tập,
Assignment, Essay
Liên Hệ: Zalo/Sdt 0967 538 624/ 0886 091 915 Website:lamluanvan.net
STRATEGIC MANAGEMENT
VIETTEL TELECOM GROUP
STUDENT ID
STUDENT NAME
Luận Văn Group viết thuê luận văn thạc sĩ,chuyên đề,khóa luận tốt nghiệp, báo cáo thực tập,
Assignment, Essay
Liên Hệ: Zalo/Sdt 0967 538 624/ 0886 091 915 Website:lamluanvan.net
1
EXECUTIVE SUMMARY
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.
2
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
3
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 ..................................................................................................................................17
REFERENCES ...........................................................................................................................................18
4
1. INTRODUCTION
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.
5
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.
2.1.1. Vision
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.
2.1.2. Mission
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
6
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
7
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
The Balanced Scorecard provides a framework that shows the causal relationship between the target
elements. The result of implementing these target elements is the pieces to create a complete picture of
the company’s business strategy.
Once the company has a complete strategic picture, it will be easier for the company to implement a
business marketing plan, including both external and internal marketing. The Balance Scorecard model
not only helps the company's partners and employees better understand the strategic content, but also is
impressive and easy to remember for each advantage, disadvantage, of the measures it is making.
Mission Creative to serve people
Vision 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
strategy Implementing the 5-year plan from 2015-2020. In 2020, become a global
corporation, a production resource group both civil and military
8
Balanced Scorecard
Element
Target
Finance Growth of 15 -20% in 2019, reaching revenue of 435,000 billion VND
Maintain the growth rate to 2020, striving to reach 450,000 billion VND in
revenue
Customer/Stakeholder Bringing information technology into every area of customers' lives
Promote and improve broadband service business to enhance customer
experience
Increase market share of domestic customers, dominant market share of
international customers
Internal Process Promote acquisition and merger of companies in the field of
telecommunications and information technology
Diversified products to attract more customers both civil and military
Organizational Capacity Increase investment in research and application of modern technologies to
improve service quality and increase defense capacity
2.3. PESTLE analysis
The macro-environment factors consist of socio-cultural, technological, political-legal, economics and
international variables. Each impact on the macro environment has potentially impacted organizational
strategies. Therefore, PESTLE analysis is an effective method that helps companies identify the external
risks beyond their control (Rastogi & Trivedi, 2016).
2.3.1. Political factor
 How stable is the government now and in the future
Vietnam is one of the socialist countries led by the Communist Party. Recently, under the leadership of
the Communist Party of Vietnam, Vietnam has been highly appreciated for stability, ensuring the
development of businesses and investors in the Vietnamese market. In addition, Vietnam’s legal system is
constantly being refined and developed to comply with international agreements that have been
9
successfully ratified in recent years. With the warming of international relations, Vietnam’s politics is
expected to remain stable in the future.
 Diplomatic relationship
Since the successful signing of the WTO accession agreement in 2008, Vietnam has joined regional and
international associations, thereby promoting its globalization process. In particular, GAT, AFTA,
ASEAN, APEC, etc. are all international associations that have recently accepted Vietnam.
2.3.2. Economic factor
 Exchange rate
Interest rates, inflation, exchange rates and taxes are factors that affect the telecommunications industry.
In the case of the Viettel Telecom Group, the exchange rate is a direct impact as it will result in an
increase in the cost of building the tower to improve the communication connection. For example, in
recent days, the trade war between China and the United States has caused market exchange rate
fluctuations. This has led to difficulties in bargaining international supply materials.
 Fiscal policies
After the global crisis of 2007-2008, Vietnam’s fiscal policy has actively and effectively applied some
changes in accordance with international agreements and the open economy. Although the inflation rate
remains at the planned level, Vietnam's GDP still maintains a steady growth of 7% per year. In the
telecommunications sector, Vietnam encourages domestic suppliers to adopt policies. Even during the
telecommunications reform period, foreign investors are welcome to join the industry, and domestic
service providers are still government-led and subsidized.
2.3.3. Social factor
Vietnam's telecommunications growth has soared in recent years. The meaning of telecommunication is
greater than mobile phones. Now it's a combination of mobile phones, the Internet and cable networks
and so forth. Ten years ago, rural areas had limited access to the Internet and mobile phones, but now they
are potential customers for the growth of the telecom business. All service providers currently manage
internet, mobile and cable network operators. Customers prefer these service packages over single
services. Therefore, communication has become a very important aspect in everyone's daily life.
10
2.3.4. Technological advance
The evolution of telecommunications lies in both needs and requests. For example, copper is outdated and
is replaced by fiber optic cables for a better and smoother connection. The phone is now smarter and
integrates more features to use the phone and internet connection on the same device. This leads
telecommunications to the wireless business. Therefore, people now need an Internet connection anytime,
anywhere.
In response to the demands of technological advances, providers are forced to increase their investments
to have a significant impact on the telecommunications industry.
2.3.5. Legal factor
 Legal document to regulate to the operation of business
In Vietnam, telecommunications technology is on the rise. The Vietnamese government has approved a
number of long-term plans to make Vietnam a strong information technology by 2020, especially the
1755 / QD-TTg Decision issued on September 22, 2010. And the project "improving computer usage and
accessibility on public Internet." was launched in Hanoi on December 26, 2011. Therefore, under the
urgency of the government's development support and the growth of information technology, Vietnam's
telecommunications industry is developing rapidly. Due to the large population, people's connection
potential is expected to increase.
 Legal framework
The telecommunications industry in Vietnam is strictly regulated by the government, especially the
legislative issue. However, in response to the demand for technological advancement, the approval of
import and export technology products has brought tremendous growth opportunities for the
telecommunications industry.
2.3.6. Environmental factors
The factors that have the greatest impact on the development of the telecommunications industry related
to environmental issues are climate change and people's understanding of the environmental impact of
telecommunications technology. However, technological advances have their advantages and
disadvantages. People need natural resources to produce technology products, but these products are used
to help humans avoid disasters and save the planet. Therefore, the demand for the development of
telecommunications technology is continuing to grow steadily.
11
2.3.7. Overall discussion
External analysis using the PESTLE model can help companies identify and plan for the unexpected
impact of the external environment on the business. However, it has been suggested that PESTLE is not
the only reliable source of strategic planning, but collaboration with internal analysis, especially SWOT
method, is critical for more effective analysis (Perera, 2017).
2.4. Porter’s Five Forces model analysis
2.4.1. Explanation of 5 competitive forces
The purpose of analyzing five forces models is to help a company understand its industry structure and
determine its position in a profitable way (Porter, 2008). These five forces directly affect each of the
company's business strategies, especially the Viettel Telecom Group.
2.4.2. Threat of substitute
In the 4.0 technology era, the threat of alternatives is less competitive due to the interdependence and
dependence of everyday communications and networking around the world. At the same time, Viettel
Telecom Group provides telecommunications services covering almost all areas and meeting the service
needs of domestic and foreign companies.
Viettel
Telecom
Group
Subtitute:
Mobifone
Vinaphone
Competitors:
Mobifone
Vinaphone
Potential
competitor:
Vietnammob
ile
Supplier
power:
Leading in
accessing
point
Customer
power:
easily
change the
use of
service
12
2.4.3. Industry rivalry
Company Price Market growth
Viettel Telecom Group Ranging from VND10,000 to VND 300,000 monthly 46.7% market share
Mobifone Ranging from VND 30,000 to VND 1,500,000 monthly 26.1% market share
Vinaphone Ranging from VND 10,000 to VND 300,000 22.2% market share
2.4.4. Power of buyer
The target customers of the Vettel Group are the general public with low to medium income. Therefore,
its price range is set to meet and adapt most of the basic needs of its monthly use of telecommunications.
Price-sensitive consumers say that as long as there is a better offer, service subscribers can easily turn to
competitors' services.
2.4.5. Power of supplier
Viettel Telecom Group is a major telecommunications provider in the Vietnamese market. They have a
lot of international suppliers, but they all agree with the government. Therefore, the power of the internal
suppliers of the Viettel Group depends entirely on the government's successful agreement.
2.4.6. Threat of new entry
There are small competitors involved in telecommunication services. But their market share and financial
position are not enough to compete with participants in the current market. Therefore, the threat of this
new entry is small.
2.5. Strategy implementation method
The process that follows the strategic evaluation and control is called strategic implementation. This
process including:
 Constructing the possess of putting the strategies into action
 Provide capable resources for the act of strategies
 Build policies for strategy implementation and improvement
 Reward structure for the achievable result
13
These processes are crucial for the company’s success. It relies on the business environment, SWOT
analyses as well as the risk assessment. The implementation aims to turn strategies and plan into action
which accomplish toward objectives and goals (Atkinson, 2006).
Here are several steps that help Viettel accomplish its strategies successfully
2.5.1. Conduct annual goals setting
Follow balance scorecard, the development strategy for the market growth should aim at the increase of
15% and account for more than 70% domestic market share until 2020. In accordance with the 5-year
plan and the performance report of Viettel in 2018, this goal is not really challenged and achievable.
2.5.2. Conduct policy setting and support plan
Implementing a policy and plan is tightly correlated with the specific annual targets and achievable result.
In the Viettel’s condition, the policy should focus on different perspectives such as investment, financial
management, marketing, price and product and so forth. Moreover, it should include the action plan and
the implementation organization.
2.5.3. Development of action plans, budgets and implementation process
From the perspective of annual goals and strategic objectives, systematic policies can be used to transfer
into action plans through the implementation of process and action plans.
The action plan must include at least the main contents: implementation object, implementation time,
work content, supporters, supervisors, reporters, and resource budgets requirement
2.5.4. Allocation of human resources, finance, facilities
The particular action plan must allocate the resources in personnel, finance, time and facilities to set up
for the implementation. From this, the annual goals and essential strategic objectives can be accomplished
in compliance with policies.
2.5.5. Strategic commitment and implementation
To the successful strategy implementation, internal marketing plays an important role in delivering
understanding of strategy through the company's employees. From this, the core value, mission, vision are
being seen plain in employee’s awareness. In consequence, they feel certain about their performance in
the contribution to the complete strategy plans and objectives of the company. The communication of
strategic execution commitments between employees and company leaders is very important, and this
is a commitment by both parties to implement and work towards achieving the identified
strategic goals.
14
2.5.6. Strategic inspection control, evaluation and adjustment in the implementation
process
Supervision must be carried out during the implementation of the business strategy. There are many
different forms of testing, depending on the purpose. The inspection system organized by the Vettel
Group is as follows:
 The Control Committee regularly reviews the activities of the Group's Board of Directors, the
Viettel Telecom Centre and the Departments;
 Inspect the activities of the member units constantly and then submit a report to the Board of
Directors;
 The General Director and the supporting department conduct irregular or regular inspections of
the member units.
 Internal communication channels include financial reports, quarterly preliminary reports;
summary year-end reports...
 Viettel also organizes the collection of external information, such as feedback from customers
(contributions to notebooks), information about competitors...
Based on the information gathered, the team's leaders will analyze and evaluate the progress of the
strategy implementation and assess and adjust the strategy based on the environmental conditions. Every
year, the Group will adjust its strategic objectives and implementation in the annual plan; implement the
adjustment; and improve the financial management mechanism...
During the implementation of the strategy, the Group must always pay attention to inspection, supervision
and collection of necessary information, and make reasonable adjustments in a timely manner. It is hoped
that Viettel will continue to achieve greater success through the proposed goals, helping the Viettel brand
to stand firmly in the hearts of customers in Vietnam, Southeast Asia and emerging markets. With the
right strategy and the efficient utilization of Group's resources, the leadership committee's guidance and
the consensus of the group's employees will help Viettel gain a foothold during the economic crisis and
continue its growth and market expansion.
15
3. Recommendation and conclusion
3.1. Recommendation
3.1.1. Maintain the investment on expansion and the improvement of customer service
quality and capabilities
Regarding the competitive advantages of Viettel in recent years, in domestic as well as international
markets, it is important for Viettel to maintain the current competitiveness. Meanwhile, a proper
investment for upgrading diversity sectors of business to ensure the sustainable future development.
Particularly, the investment should cover different aspects of the business including telecommunication
technologies, transmission systems, research and development of new products, new technologies as well
as strategic plan for cost reduction of current service and product packages.
3.1.2. Strategic plan of pricing policies for competitiveness and service flexibilities
In comparison to the competitors’ service packages, the price offered by Viettel is highly competitive.
However, as the market keeps upgrading and developing new strategies to attract users, Viettel should
maintain its budgets on developing new policies for a better offered service package at the most
competitive but the cost is lower than current policies.
In the meantime, there are the presence of new competitors on the telecommunication sectors with the
support of foreign investment. Even Though their size of business and market share is tight, this is a
notification of the rivalry on this business sector.
3.1.3. Improving service quality via human resource strategic management toward
changes
In the increasing competitiveness of the market economy, the nature of business environment and the
changing demand of customers has been dynamic and forced companies invest a great deal of attention on
the development of human resource capabilities. Particularly, as a military business direction, the human
resource of Viettel is under heavy controlled by the state. It may lead to the delay in responding to the
changes on the market place toward the service improvement and customer’s demand complexity.
Therefore, the strategic plan on managing and comprehensive human resource in terms of training and
adapting changes are vital within Viettel business. This action would help Viettel to be more responsive
to the competitors’ actions and the changes of customer’s expectations. The management of human
resource development may include a clear organizational chart, efficient labour force, policies, which then
is to ensure the appropriate personnel in accordance with the right functional tasks and responsibilities.
16
3.1.4. Financial management solution
Apparently, the world economy is in a period of recovery, but it is still in a very fragile and unstable state.
Vietnam’s economy struggles many difficulties. In particular, inflation is rising while trade is unbalanced.
Therefore, the Group’s financial risks still exist and affect enterprises, business operation and expansion
of the Group's share in the local and international markets.
Therefore, the financial management of the Group during this period must always focus on the ability to
raise working capital and use funds effectively and avoid waste. The capital mobilization plan must be
consistent with business plans and investments, not passive capital.
Viettel's finance and accounting department should coordinate with other departments, such as planning
and investment, to establish financial plans on a monthly, quarterly, and annual, constantly review the
implementation of these plans to raise funds in a timely manner. Financial plans must always consider
alternate capabilities and changes to suit demand.
Financial planning also requires special attention to how to use financial resources in the most efficient
way to bring the lowest operating costs, while at the same time having sufficient resources to invest in
5G, terminal production technology and new technologies such as expanding and improving coverage
quality.
3.1.5. Marketing solution
This is one of the important measures that have contributed to Viettel's great success. Here, we focus on
the segments of workers, civil servants, students, rural and urban areas... The middle-income class is
crucial.
Based on the analysis and evaluation of the business environment and the review of identified goals and
tasks, managers should select a development strategy to enhance the Group's position by focusing on the
development of products and services that have advantages.
At present, Vietnam's telecommunications market is growing very strongly. Operators are vying for
market share. Therefore, Viettel should try to introduce a low-cost package to support strong marketing
advertising for students and students to increase their market share. In addition, Viettel should continue
and strengthen promotions, such as offering cheap packaging to attract new customers to become
civilians.
17
3.2. Conclusion
In conclusion, Viettel is on the upper position in terms of competitive advantage within the
telecommunication industry. However, in order to maintain the effectiveness as well as develop its market
shares domestically and internally, Viettel is suggested to follow a strategic management implementation
for control and actively respond to the changes within the market.
18
REFERENCES
Atkinson, H., 2006. Strategy implementation: a role for the balanced scorecard? Management
Decision, 44(10), pp.1441-1460.
Cox, M.Z., Daspit, J., McLaughlin, E. & Jones,Raymond J., I.,II 2012, "Strategic Management: Is it an
Academic Discipline?", Journal of Business Strategies, vol. 29, no. 1, pp. 25-42.
Kaplan, R.S. and Norton, D.P., 1996. Using the balanced scorecard as a strategic management
system.
Perera, R., 2017. The PESTLE analysis. Nerdynaut.
Porter, M.E., 2008. The five competitive forces that shape strategy. Harvard business review, 86(1),
pp.25-40.
Rastogi, N.I.T.A.N.K. and Trivedi, M.K., 2016. PESTLE technique–a tool to identify external risks in
construction projects. International Research Journal of Engineering and Technology (IRJET), 3(1),
pp.384-388.
Vietteltelecom.vn, 2019. Giới thiệu về Viettel. [online] Available at: https://vietteltelecom.vn/tin-tuc/chi-
tiet/gioi-thieu-ve-viettel/16659712 [Accessed 26 Jul. 2019].

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STRATEGIC MANAGEMENT VIETTEL TELECOM GROUP

  • 1. Luận Văn Group viết thuê luận văn thạc sĩ,chuyên đề,khóa luận tốt nghiệp, báo cáo thực tập, Assignment, Essay Liên Hệ: Zalo/Sdt 0967 538 624/ 0886 091 915 Website:lamluanvan.net STRATEGIC MANAGEMENT VIETTEL TELECOM GROUP STUDENT ID STUDENT NAME
  • 2. Luận Văn Group viết thuê luận văn thạc sĩ,chuyên đề,khóa luận tốt nghiệp, báo cáo thực tập, Assignment, Essay Liên Hệ: Zalo/Sdt 0967 538 624/ 0886 091 915 Website:lamluanvan.net 1 EXECUTIVE SUMMARY 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.
  • 3. 2 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
  • 4. 3 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 ..................................................................................................................................17 REFERENCES ...........................................................................................................................................18
  • 5. 4 1. INTRODUCTION 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.
  • 6. 5 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. 2.1.1. Vision 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. 2.1.2. Mission 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
  • 7. 6 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
  • 8. 7 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 The Balanced Scorecard provides a framework that shows the causal relationship between the target elements. The result of implementing these target elements is the pieces to create a complete picture of the company’s business strategy. Once the company has a complete strategic picture, it will be easier for the company to implement a business marketing plan, including both external and internal marketing. The Balance Scorecard model not only helps the company's partners and employees better understand the strategic content, but also is impressive and easy to remember for each advantage, disadvantage, of the measures it is making. Mission Creative to serve people Vision 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 strategy Implementing the 5-year plan from 2015-2020. In 2020, become a global corporation, a production resource group both civil and military
  • 9. 8 Balanced Scorecard Element Target Finance Growth of 15 -20% in 2019, reaching revenue of 435,000 billion VND Maintain the growth rate to 2020, striving to reach 450,000 billion VND in revenue Customer/Stakeholder Bringing information technology into every area of customers' lives Promote and improve broadband service business to enhance customer experience Increase market share of domestic customers, dominant market share of international customers Internal Process Promote acquisition and merger of companies in the field of telecommunications and information technology Diversified products to attract more customers both civil and military Organizational Capacity Increase investment in research and application of modern technologies to improve service quality and increase defense capacity 2.3. PESTLE analysis The macro-environment factors consist of socio-cultural, technological, political-legal, economics and international variables. Each impact on the macro environment has potentially impacted organizational strategies. Therefore, PESTLE analysis is an effective method that helps companies identify the external risks beyond their control (Rastogi & Trivedi, 2016). 2.3.1. Political factor  How stable is the government now and in the future Vietnam is one of the socialist countries led by the Communist Party. Recently, under the leadership of the Communist Party of Vietnam, Vietnam has been highly appreciated for stability, ensuring the development of businesses and investors in the Vietnamese market. In addition, Vietnam’s legal system is constantly being refined and developed to comply with international agreements that have been
  • 10. 9 successfully ratified in recent years. With the warming of international relations, Vietnam’s politics is expected to remain stable in the future.  Diplomatic relationship Since the successful signing of the WTO accession agreement in 2008, Vietnam has joined regional and international associations, thereby promoting its globalization process. In particular, GAT, AFTA, ASEAN, APEC, etc. are all international associations that have recently accepted Vietnam. 2.3.2. Economic factor  Exchange rate Interest rates, inflation, exchange rates and taxes are factors that affect the telecommunications industry. In the case of the Viettel Telecom Group, the exchange rate is a direct impact as it will result in an increase in the cost of building the tower to improve the communication connection. For example, in recent days, the trade war between China and the United States has caused market exchange rate fluctuations. This has led to difficulties in bargaining international supply materials.  Fiscal policies After the global crisis of 2007-2008, Vietnam’s fiscal policy has actively and effectively applied some changes in accordance with international agreements and the open economy. Although the inflation rate remains at the planned level, Vietnam's GDP still maintains a steady growth of 7% per year. In the telecommunications sector, Vietnam encourages domestic suppliers to adopt policies. Even during the telecommunications reform period, foreign investors are welcome to join the industry, and domestic service providers are still government-led and subsidized. 2.3.3. Social factor Vietnam's telecommunications growth has soared in recent years. The meaning of telecommunication is greater than mobile phones. Now it's a combination of mobile phones, the Internet and cable networks and so forth. Ten years ago, rural areas had limited access to the Internet and mobile phones, but now they are potential customers for the growth of the telecom business. All service providers currently manage internet, mobile and cable network operators. Customers prefer these service packages over single services. Therefore, communication has become a very important aspect in everyone's daily life.
  • 11. 10 2.3.4. Technological advance The evolution of telecommunications lies in both needs and requests. For example, copper is outdated and is replaced by fiber optic cables for a better and smoother connection. The phone is now smarter and integrates more features to use the phone and internet connection on the same device. This leads telecommunications to the wireless business. Therefore, people now need an Internet connection anytime, anywhere. In response to the demands of technological advances, providers are forced to increase their investments to have a significant impact on the telecommunications industry. 2.3.5. Legal factor  Legal document to regulate to the operation of business In Vietnam, telecommunications technology is on the rise. The Vietnamese government has approved a number of long-term plans to make Vietnam a strong information technology by 2020, especially the 1755 / QD-TTg Decision issued on September 22, 2010. And the project "improving computer usage and accessibility on public Internet." was launched in Hanoi on December 26, 2011. Therefore, under the urgency of the government's development support and the growth of information technology, Vietnam's telecommunications industry is developing rapidly. Due to the large population, people's connection potential is expected to increase.  Legal framework The telecommunications industry in Vietnam is strictly regulated by the government, especially the legislative issue. However, in response to the demand for technological advancement, the approval of import and export technology products has brought tremendous growth opportunities for the telecommunications industry. 2.3.6. Environmental factors The factors that have the greatest impact on the development of the telecommunications industry related to environmental issues are climate change and people's understanding of the environmental impact of telecommunications technology. However, technological advances have their advantages and disadvantages. People need natural resources to produce technology products, but these products are used to help humans avoid disasters and save the planet. Therefore, the demand for the development of telecommunications technology is continuing to grow steadily.
  • 12. 11 2.3.7. Overall discussion External analysis using the PESTLE model can help companies identify and plan for the unexpected impact of the external environment on the business. However, it has been suggested that PESTLE is not the only reliable source of strategic planning, but collaboration with internal analysis, especially SWOT method, is critical for more effective analysis (Perera, 2017). 2.4. Porter’s Five Forces model analysis 2.4.1. Explanation of 5 competitive forces The purpose of analyzing five forces models is to help a company understand its industry structure and determine its position in a profitable way (Porter, 2008). These five forces directly affect each of the company's business strategies, especially the Viettel Telecom Group. 2.4.2. Threat of substitute In the 4.0 technology era, the threat of alternatives is less competitive due to the interdependence and dependence of everyday communications and networking around the world. At the same time, Viettel Telecom Group provides telecommunications services covering almost all areas and meeting the service needs of domestic and foreign companies. Viettel Telecom Group Subtitute: Mobifone Vinaphone Competitors: Mobifone Vinaphone Potential competitor: Vietnammob ile Supplier power: Leading in accessing point Customer power: easily change the use of service
  • 13. 12 2.4.3. Industry rivalry Company Price Market growth Viettel Telecom Group Ranging from VND10,000 to VND 300,000 monthly 46.7% market share Mobifone Ranging from VND 30,000 to VND 1,500,000 monthly 26.1% market share Vinaphone Ranging from VND 10,000 to VND 300,000 22.2% market share 2.4.4. Power of buyer The target customers of the Vettel Group are the general public with low to medium income. Therefore, its price range is set to meet and adapt most of the basic needs of its monthly use of telecommunications. Price-sensitive consumers say that as long as there is a better offer, service subscribers can easily turn to competitors' services. 2.4.5. Power of supplier Viettel Telecom Group is a major telecommunications provider in the Vietnamese market. They have a lot of international suppliers, but they all agree with the government. Therefore, the power of the internal suppliers of the Viettel Group depends entirely on the government's successful agreement. 2.4.6. Threat of new entry There are small competitors involved in telecommunication services. But their market share and financial position are not enough to compete with participants in the current market. Therefore, the threat of this new entry is small. 2.5. Strategy implementation method The process that follows the strategic evaluation and control is called strategic implementation. This process including:  Constructing the possess of putting the strategies into action  Provide capable resources for the act of strategies  Build policies for strategy implementation and improvement  Reward structure for the achievable result
  • 14. 13 These processes are crucial for the company’s success. It relies on the business environment, SWOT analyses as well as the risk assessment. The implementation aims to turn strategies and plan into action which accomplish toward objectives and goals (Atkinson, 2006). Here are several steps that help Viettel accomplish its strategies successfully 2.5.1. Conduct annual goals setting Follow balance scorecard, the development strategy for the market growth should aim at the increase of 15% and account for more than 70% domestic market share until 2020. In accordance with the 5-year plan and the performance report of Viettel in 2018, this goal is not really challenged and achievable. 2.5.2. Conduct policy setting and support plan Implementing a policy and plan is tightly correlated with the specific annual targets and achievable result. In the Viettel’s condition, the policy should focus on different perspectives such as investment, financial management, marketing, price and product and so forth. Moreover, it should include the action plan and the implementation organization. 2.5.3. Development of action plans, budgets and implementation process From the perspective of annual goals and strategic objectives, systematic policies can be used to transfer into action plans through the implementation of process and action plans. The action plan must include at least the main contents: implementation object, implementation time, work content, supporters, supervisors, reporters, and resource budgets requirement 2.5.4. Allocation of human resources, finance, facilities The particular action plan must allocate the resources in personnel, finance, time and facilities to set up for the implementation. From this, the annual goals and essential strategic objectives can be accomplished in compliance with policies. 2.5.5. Strategic commitment and implementation To the successful strategy implementation, internal marketing plays an important role in delivering understanding of strategy through the company's employees. From this, the core value, mission, vision are being seen plain in employee’s awareness. In consequence, they feel certain about their performance in the contribution to the complete strategy plans and objectives of the company. The communication of strategic execution commitments between employees and company leaders is very important, and this is a commitment by both parties to implement and work towards achieving the identified strategic goals.
  • 15. 14 2.5.6. Strategic inspection control, evaluation and adjustment in the implementation process Supervision must be carried out during the implementation of the business strategy. There are many different forms of testing, depending on the purpose. The inspection system organized by the Vettel Group is as follows:  The Control Committee regularly reviews the activities of the Group's Board of Directors, the Viettel Telecom Centre and the Departments;  Inspect the activities of the member units constantly and then submit a report to the Board of Directors;  The General Director and the supporting department conduct irregular or regular inspections of the member units.  Internal communication channels include financial reports, quarterly preliminary reports; summary year-end reports...  Viettel also organizes the collection of external information, such as feedback from customers (contributions to notebooks), information about competitors... Based on the information gathered, the team's leaders will analyze and evaluate the progress of the strategy implementation and assess and adjust the strategy based on the environmental conditions. Every year, the Group will adjust its strategic objectives and implementation in the annual plan; implement the adjustment; and improve the financial management mechanism... During the implementation of the strategy, the Group must always pay attention to inspection, supervision and collection of necessary information, and make reasonable adjustments in a timely manner. It is hoped that Viettel will continue to achieve greater success through the proposed goals, helping the Viettel brand to stand firmly in the hearts of customers in Vietnam, Southeast Asia and emerging markets. With the right strategy and the efficient utilization of Group's resources, the leadership committee's guidance and the consensus of the group's employees will help Viettel gain a foothold during the economic crisis and continue its growth and market expansion.
  • 16. 15 3. Recommendation and conclusion 3.1. Recommendation 3.1.1. Maintain the investment on expansion and the improvement of customer service quality and capabilities Regarding the competitive advantages of Viettel in recent years, in domestic as well as international markets, it is important for Viettel to maintain the current competitiveness. Meanwhile, a proper investment for upgrading diversity sectors of business to ensure the sustainable future development. Particularly, the investment should cover different aspects of the business including telecommunication technologies, transmission systems, research and development of new products, new technologies as well as strategic plan for cost reduction of current service and product packages. 3.1.2. Strategic plan of pricing policies for competitiveness and service flexibilities In comparison to the competitors’ service packages, the price offered by Viettel is highly competitive. However, as the market keeps upgrading and developing new strategies to attract users, Viettel should maintain its budgets on developing new policies for a better offered service package at the most competitive but the cost is lower than current policies. In the meantime, there are the presence of new competitors on the telecommunication sectors with the support of foreign investment. Even Though their size of business and market share is tight, this is a notification of the rivalry on this business sector. 3.1.3. Improving service quality via human resource strategic management toward changes In the increasing competitiveness of the market economy, the nature of business environment and the changing demand of customers has been dynamic and forced companies invest a great deal of attention on the development of human resource capabilities. Particularly, as a military business direction, the human resource of Viettel is under heavy controlled by the state. It may lead to the delay in responding to the changes on the market place toward the service improvement and customer’s demand complexity. Therefore, the strategic plan on managing and comprehensive human resource in terms of training and adapting changes are vital within Viettel business. This action would help Viettel to be more responsive to the competitors’ actions and the changes of customer’s expectations. The management of human resource development may include a clear organizational chart, efficient labour force, policies, which then is to ensure the appropriate personnel in accordance with the right functional tasks and responsibilities.
  • 17. 16 3.1.4. Financial management solution Apparently, the world economy is in a period of recovery, but it is still in a very fragile and unstable state. Vietnam’s economy struggles many difficulties. In particular, inflation is rising while trade is unbalanced. Therefore, the Group’s financial risks still exist and affect enterprises, business operation and expansion of the Group's share in the local and international markets. Therefore, the financial management of the Group during this period must always focus on the ability to raise working capital and use funds effectively and avoid waste. The capital mobilization plan must be consistent with business plans and investments, not passive capital. Viettel's finance and accounting department should coordinate with other departments, such as planning and investment, to establish financial plans on a monthly, quarterly, and annual, constantly review the implementation of these plans to raise funds in a timely manner. Financial plans must always consider alternate capabilities and changes to suit demand. Financial planning also requires special attention to how to use financial resources in the most efficient way to bring the lowest operating costs, while at the same time having sufficient resources to invest in 5G, terminal production technology and new technologies such as expanding and improving coverage quality. 3.1.5. Marketing solution This is one of the important measures that have contributed to Viettel's great success. Here, we focus on the segments of workers, civil servants, students, rural and urban areas... The middle-income class is crucial. Based on the analysis and evaluation of the business environment and the review of identified goals and tasks, managers should select a development strategy to enhance the Group's position by focusing on the development of products and services that have advantages. At present, Vietnam's telecommunications market is growing very strongly. Operators are vying for market share. Therefore, Viettel should try to introduce a low-cost package to support strong marketing advertising for students and students to increase their market share. In addition, Viettel should continue and strengthen promotions, such as offering cheap packaging to attract new customers to become civilians.
  • 18. 17 3.2. Conclusion In conclusion, Viettel is on the upper position in terms of competitive advantage within the telecommunication industry. However, in order to maintain the effectiveness as well as develop its market shares domestically and internally, Viettel is suggested to follow a strategic management implementation for control and actively respond to the changes within the market.
  • 19. 18 REFERENCES Atkinson, H., 2006. Strategy implementation: a role for the balanced scorecard? Management Decision, 44(10), pp.1441-1460. Cox, M.Z., Daspit, J., McLaughlin, E. & Jones,Raymond J., I.,II 2012, "Strategic Management: Is it an Academic Discipline?", Journal of Business Strategies, vol. 29, no. 1, pp. 25-42. Kaplan, R.S. and Norton, D.P., 1996. Using the balanced scorecard as a strategic management system. Perera, R., 2017. The PESTLE analysis. Nerdynaut. Porter, M.E., 2008. The five competitive forces that shape strategy. Harvard business review, 86(1), pp.25-40. Rastogi, N.I.T.A.N.K. and Trivedi, M.K., 2016. PESTLE technique–a tool to identify external risks in construction projects. International Research Journal of Engineering and Technology (IRJET), 3(1), pp.384-388. Vietteltelecom.vn, 2019. Giới thiệu về Viettel. [online] Available at: https://vietteltelecom.vn/tin-tuc/chi- tiet/gioi-thieu-ve-viettel/16659712 [Accessed 26 Jul. 2019].