LUẬN VĂN THẠC SĨ MBA
Xây dựng chiến lược kinh doanh công ty cổ phần địa ốc TASCO
THESIS TOPIC
BUILDING REAL ESTATE BUSINESS STRATEGY FOR
TASCO JONT STOCK COMPANY

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TABLE OF CONTENTS
TT

CONTENTS

Pages

Acknowledgements
Table of contents

List of table
List of Figures, Graphs
1
2
3
4
5
1.1
1.2
1.3
1.3.1
1.3.2

Method of selection strategies
Chapter 2: ANALYSIS REAL ESTATE BUSINESS ENVIRONMENTAL OF
TASCO JOINT STOCK COMPANY

2.1
2.1.1
2.1.2
2.1.3
2.2
2.2.1
2.2.2
2.3
2.4
2.5
2.6

Introduction
TASCO Joint Stock Company
Business Activities
History and development, Important timeline
External environment analysis
Macro Environment
Micro environment
External Factors environmental Matrix
Analysis Internal environment
Internal Factors environmental Matrix
Internal – External Enviroment Matrix of TASCO – IE Matrix
Chapter 3 : BUILDING REAL ESTATE BUSINESS

1

57
59
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STRATEGY OF TASCO JOINT STOCK COPANY
3.1
3.2
3.3
3.4
3.4.1
3.4.2
3.4.3
3.4.4
3.4.5
3.4.6
3.5
3.6
3.6.1
3.6.2
3.6.3
3.6.4
3.6.5
3.7
3.8
3.9

Oriented development
Objective of TASCO Jsc
Predition of Real Estate Market

72
72
73
74
75
76
77
79
79
82

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LIST OF TABLES
No
1
2
3
4
5
6
7
8

Name
Table 1-3
Table 1-5
Table 1-9
Table 2-3


46

Company
9
10
11
12
13
14
15
16
17

Table 2-8
Table 2-9
Table 2-12

Income statement of TASCO
Expenditure analysis of Financial
Internal Factors environmental Matrix of TASCO –

47
47
56

Table 2-13
Table 2-14
Table 3-1


Synthesis of SWOT Matrix elements
Scoring criteria of the Real estate business

67
71

Strategy

LIST OF FIGURES, GRAPHS
No

Name

Contents

Pages

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1
2
3
4
5
6
7
8
9
10

INTRODUCTION
1. The necessity of research Topics:
Vietnam joined the World Trade Organization (WTO), the trend of globalization as
today, the business is facing great opportunities to build and develop to a new level
and also for with the

big potential threaten. To survive and develope, businesses need to build for

themselves the direction and strategies of business on the basis of relevant research, analysis, business

Page 5

7
11
14
16
17
18
23
24
54
55
72
78


environment and the external environment within their own to take advantage of opportunities, minimize
risks from the business environment, as well as promoting the strengths and limited weaknesses of
companies.



business strategies.

3. Object and scope of research:
TASCO

Joint stock Company is a company that has business on real estate established and operated

mainly in Hanoi Capital . Therefore content to go further research, The authors would focus on analyzing the
business environment by TASCO is primarily the business environment in Hanoi Capital to build real estate
business strategic of the Company from now to year 2020.

Due to limited time and duration of study, although the field of business activity
around Tasco very diverse skilled construction and installation is only the authors of
selected real estate business and limited geographical analysis is in the capital
Hanoi. This is a market-oriented of the father company when TASCO complete
activities in the model company. This market is dynamic, challenging but full of
potential.

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4. Research Methodology:
Research methods: the information gathered from books, newspapers, magazines,
the statistics of Ha noi Statistics Department,

information and statistics from the consulting firm of real

estate business. Internal sources of information are the balance sheet, reporting the results of production and
business operations, financial reporting in 2007, 2008 – The time to December, 2009.

Afred Chandler definition: Strategy encompasses assign the basic long-term goals of an organization,
and selection process or how to act and allocate resources necessary to implement the goals .

According FERD R, David in the "Treatise on management strategy”: The strategy is the means
of the long-term goals. Business strategy may include the development of geographical diversification of
activities, chemical property, product development, market access, cut spending, liquidation and joint
ventures.

Strategy is also understood as a set of goals and policies as well as plans to achieve
the main goal, it shows that business going to make what business and enterprise or
will be subject to any business.
1.2.Role of strategy:
1.2.1.Planning:

Business strategy to help companies find clear purpose and direction to his. It's just the

administrator must consider and that is determine the direction of organizing to do and always will achieve
desired results.

1.2.2.Forecasting:

In a constantly fluctuating environment, the opportunities and risks always appear.

Process of strategic planning helps managers to analyze the environment and make predictions to identify
strategies accordingly. Whereby administrators are better able to grasp opportunities, take advantage of
opportunities and reduce risks related to the environment.

1.2.3.Controlling: Strategic helps administrators to use and allocation of resources is optimal as well as to
coordinate effectively function within the organization to achieve a common goal threads out.


will allow businesses to provide stability, control input costs.
- Combination horizontal: businesses want to control the competition. This strategy
allows

centralized

resources,

expanding

activities

and

increasing

the

competitiveness of enterprises.
1.3.2.2. Specialize strategies:

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This group have strategies such as market entry strategies, strategic market
development and strategic product development
- Market Entry Strategies: to increase market share for products or services available in the market's
current business.

- Market Development Strategies: into the new regional products or services existing business.


save

Left

position

of

the

business.

- Strategy for liquidation: is the sale of assets to the enterprise. Business accept defeat and try to rescue
picked up what they can.

1.4. Building strategies recuitment:
Strategic management process described by The model summarized below:

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Implement
controls to
identify
external
opportunities
and threats
directly


Distribution
of resources

Selection
strategies to
pursue

Building

Forth
policies

Implementation

Rank
strategic

strategic

strategic
Figure 1-1: Model of strategic management comprehensive DAVID F.
1.4.1. Mission and objectives of the enterprise
Mission is a statement with the nature of long-term goals. It distinguishes this
business with other enterprises. The declaration also so-called speech of a business
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to business philosophy, principles of business, the trust company. All of which
determine the region's business enterprises, in particular products, basic services,
the fundamental group of customers, market demand, technical field or a

Factors, including legal institutions, policies, regulations, institutions, laws,
treatment regimes, procedures, regulations, ... the State. In some countries also have
to mention the level of political stability or sustainability of the government. Laws
and state agencies along with pressure groups have roles to regulate the business.
c/Social factors

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All enterprises must analyze a wide range of social factors to assign opportunities,
potential threats. These factors include social factors such as women, demographic
pressures, lifestyle, ethics, traditions, practices, rates of population growth,
population shift, level of position

etc ... Changes in geographic, demographic, cultural and social

influences important to almost all decisions about products, services, markets and consumers.

d/Natural elements
These businesses have long recognized the impact of natural circumstances in their business decisions.
Analysis of natural elements including the consideration to issues of environmental pollution, energy
increasingly scarce natural resources, mineral exploitation and indiscriminate quality natural environment
risk of degradation, etc ... In addition, administrators must be aware of cases of force majeure such as natural
disasters, storms, floods and painting services ... to reserve the countermeasures in the process of production
activities their business.

e/Technology and technical factors
For businesses, technologies or other factors related to technology such as R & D,
copyright and technology, automation trends, technology transfer, ... can be both an
oppotinities, just the threat that they must be properly considered in drafting the strategy. Due to rapid


COMPETITORS
Suppliers

Buyers
Industry competition

Substitutes
Figure 1-2: Models of competitive work force by Michael Porter

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a/Potential competitors
Potential

competitors

include

companies

involved

in

new

sectors,


process of production and business. To avoid the pressure of bargain or supplier company should build
relationships mutual benefit or Backup supply various.

e/Substitutes
Work force in the five competitive forces in the model of Michael Porter is the competitiveness of these
products instead. Substitute products are the products of competitors in the same industry or business sector
can function together to meet the same demands of customers. To minimize the importance of pressure this
risk, companies need to consider very carefully the price trends and forecasting of product replacement in the
future.

Besides

the five competitive forces in the model of Michael Porter over , in the process of analyzing

micro-environment, enterprises also must be very interested in a number of other factors such as distributors
stock east, community, labor federations, ... to identify opportunities and risks to business operations of the
company.

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1.4.2.3. External Factors Environment Matrix(EFE):
Table 1-3: Model building EFE Matrix
The importance
Factors listed Scoring from 0 to
in
the 1 point higher
respectively as
external
factors important

the
importance
of the factor

Sort
elements
from 1 to 4

Graded
elements

Points of
the above
categories

Figure 1-4: The process of building EFE Matrix

1.4.2.4. Competition Matrix:
In all events and environmental trends can affect the strategic position of a
company, affects competition is often considered the most important.

Competition

Matrix dentify primarily with the competitive advantages and disadvantages of their special. While the
choice, choose the companies have similar characteristics to the elements (markets, human resources, finance
...) to conduct a comparison to draw conclusions about the strengths and weaknesses of your business in a
competitive environment.

1.4.3. Analysis and assessment
analysis


Planing: All activities related to the administration to prepare for the future. The specific tasks as

expected, set goals, set out strategies, develop policies, formation of goals.

b/ Orgnization: All the activities of management to create the structure of the relationship between rights
and responsibilities. The specific job is to design organizations and specialized work, detailing the work,
agreed order, coordination arrangements, job design and analysis work.

c/ Encouragement: Efforts to orient human activities, particularly leadership, joint working groups, change
how it works, authorized, improving the quality of work, organizational change, spirit of vienva management
...

d/

Human resources: Activities focusing on human resource management or individual management of

human resources including recruitment, payroll management, employee welfare and safety for employees,
the opportunity to work with , relations with labor federation, discipline policies and procedures for protests,
the mass media.

e/

Control: Related to all management activities to ensure the results match reality, consistent with the

results was planned, as kiemtra quality, financial control, sales, inventory , analysis of changes, ...

1.4.3.4. Internal Factors environment Matrix (IFE):
Table 1-5: Model building IFE Matrix
The importance

relationship between these departments. Process of building a matrix IFE also includes 5 steps as follows:

Figure 1-6 Map Process of building a matrix IFE
1.4.4. Matrix Internal - External (Matrix IE)
Matrix Synthesis of external factors, the internal factors is based on two main

aspects:
• Total number of important elements of the IFE matrix.
• Total number of important points of the EFE matrix .
IE Matrix set parts of a business in a box of 9 as shown:

THE POINT OF IFE MATRIX

THE POINT
OF EFE
MATRIX

Strong

Medium

Weak

3,00 to 4,00

2,00 to 2,99

1,00 to 1,99

High

Development and construction

(the yellow box - the box I, II, IV): the appropriate strategy is to

focus growth (market penetration, market development, product development),

Hold and maintain (the blue box - the box III, V, VII): the appropriate strategy for market penetration
and product development.

Harvesting and remove

(the red box - box VI, VIII, IX): cuts, liquidation or remove parts down

inefficient operations.

1.4.5. Analyzing the business environment (Strengths; Weaknesses; Opportunities; Threats - SWOT):
Opportunities (O)
Strengths
(S)

Weaknesses
(W)

Threats (T)

S+O

S+T

Use strengths to


WT

Strategies are defensive strategies to reduce the weaknesses and avoid threats from the outside

environment. Combination of important elements inside and outside the difficult task of developing a SWOT
Matrix, it requires a well judged, and will not be a best match.

Process of building strategy is a process that involves analysis of environmental factors inside and outside
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the enterprise on the basis of mission and business objectives are set out of the business to prepare and select
appropriate strategies. To build strategies to evaluate enterprises implement these measures properly or not,
and the current activities of the business can be done more efficiently or not. Assessment often strategies will
help the administration strategically avoid the complacency, subjective. Objectives and strategies need to pay
constant attention, development and combined so that complete the mission of the enterprise with the most
effective.

1.5. Selection strategy:
1.5.1. Selection criteria:
To choose strategies for businesses that have identified the criteria chosen strategy
to ensure the requirements.

Strategically selected to ensure suitable environmental conditions;

Compliance with foreign policy viewpoints and methods of management of Directors of the company;
Compliance with the financial capacity material and personnel of the enterprise.

1.5.2.Method of selection strategies


B=A
x
proportion

external

Total
1
S
S
S
The higher the total score S is the selection of more appropriate strategies and
implementation more effective.

CHAPTER 2
ANALYSIS REAL ESTATE BUSINESS ENVIRONMENT OF TASCO JOINT STOCK
COMPANY

2.1. Introduction
2.1.1. TASCO Joint Stock Company
Company Name: TASCO JOINT STOCK COMPANY (TASCO Jsc.,)
Address office: 3rd Floor, B15 Dai Kim

Urban , Hoang Mai District , Hanoi city , Vietnam;

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Capital: 135 billions VND (One hundred thirty five billions VND)

transportation

infrastructure

name Ha Nam
construction.

November, 2000: Mark a major turning point in the evolution of the company. The company has conducted
equitization, transfer from state-owned enterprises operate according to the Joint stock company , Decision
No. 2616/2000/QD-UB on 20th November, 2000 of People's Committee Nam Dinh of Province and named
Nam Dinh Construction Transportation and Infrastructure Joint stock company.

In 2002, the company changed its name

to Thanh Cong Transportation and Infrastructure Joint

stock company by decision of the Chairman.

In 2003, the company has merged and become affiliated companies of the
Investment Corporation Housing and Urban Development (HUD), the Ministry of
Construction.
On 15th, December, 2003 changed its name to Thanh Cong Joint Stock Company by Decision No.
559/2003/QD-HDQT of Chairman.

In 2005, to promote the strength, as well as continue to assert the prestige and experience have grown since
the project was completed, the company has officially become the system of "parent company - subsidiary
company" with two branches in Nam Dinh, Ho Chi Minh City, 6 subsidiaries including Phuong Tay JSC,
Thanh Cong JSC Number 1,2,3,5, Tasco Tourism Joint Stock Company and 20 teams of responsibility
directly at the fiels .


12th, May, 2008 Contrac BT project "Building the route from Le Duc Tho Road to new urban Xuan

Phuong - Tu Liem District - Hanoi City" with Tu Liem District, with a total investment of 1543 billion VND
and the value from the land use right of the "Unit 2, 3 areas " of Xuan Phuong New Urban projects and other
land to return to the project;

2.2. External environment analysis
Scope of operation of the

real state business of TASCO is mainly in the city of Hanoi and for

research and analysis is going into the issue, the authors would be focused analysis of the external
environment of TASCO mainly in Hanoi city.

Analyzing external environmental of TASCO will see the opportunities and threat that the company may
encounter from the business environment. Since that appropriate strategies to limit threat and make the most
of opportunities for the development of the company. External environment including the macro environment
and micro environment.

2.2.1. Macro environment
2.2.1.1. Economic environment:
a/ Total domestic income (GDP) of Hanoi
Report of City People's Committee of the 7th Session of Council, that the total
domestic product in the capital six months increased by 10.04%. GDP increased by
high-speed total social investment reached 10,115 billion (up 16.3% over the same
period last year). In particular, specific value construction is made from the capital
budget increased 90.8%, reaching record levels in many years.
Accordingly, Hanoi is expected May 9, 2009, total domestic product (GDP) grew
5.7%, industrial production value increased by 7.7%, total retail sales increased


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the country has not matched the potential advantages. Economic structure of Hanoi
after merger poses many problems need to be adjusted to suit reality. Besides doquy
planning, urban management is limited, inadequate, infrastructure Capital not match
the requirements of development and increasing population. Status of illegal
construction and order urban land management is still complicated development,
especially with the new local merger of Capital; traffic jams still status,
environmental sanitation has ensure.

Figure 2-2: Economic structure of Hanoi in 2008
Source: Statistical yearbook of Hanoi in 2008
c/ Average income per capita:
With the spectacular growth in the second half, the GDP of the capital increase to
approximately 6.7% and income per capita in 2009 reached 32 million. In the
second quarter last year, the GDP of the capital in turn increase 8.3% and 9%.
Dramatic increase in the context of economic crisis contributed to the total domestic
product of Hanoi estimated to grow 6.7% over 2008 and 6% higher than expected.
Respectively, the average income of people capital reached 32 million dong (VND
30 million plan).
In 2010, Hanoi expected GDP to reach 90-10% or higher, bringing per capita
income exceeding 36 million. Expected, GDP per capita of the city late in 2015 will
reach 72-75 million, ie more than double the 2010 level (35.56 million)
Ha Noi Department of Statistics has said that the average income a month working
in a sector of the city state management is 2.107 million, up 21.2% over the same
period by the State to change the basic salary.
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