4 analysis of swot model duringafter covid period at nimex joint stock company

MINISTRY OF FINANCE
ACADEMY OF FINANCE

Student: Tran Thi Hong Diem
Group: CQ56/51.03
GRADUATION THESIS
TOPIC:
Analysis of SWOT model during/after Covid period at Nimex
Joint Stock Company

Major

: English for Finance and Accounting

Student code : 1872202010065
Supervisor

: MA. Phan Thi Xuan

Hanoi – 2022


MINISTRY OF FINANCE
ACADEMY OF FINANCE

Student: Tran Thi Hong Diem
Group: CQ56/51.03
GRADUATION THESIS
TOPIC:
Analysis of SWOT model during/after Covid period at
Nimex Joint Stock Company

Major

: English for Finance and Accounting

Student code : 1872202010065
Supervisor

: MA. Phan Thi Xuan

Hanoi – 2022


Academy of Finance

Graduation Thesis
DECLARATION 

The author hereby said that this thesis “Analysis of SWOT model
during/after Covid period at Nimex Joint Stock Company’’ is her own and has
been generated as the result of her original research.

Hanoi, May, 2022
Graduation thesis author

Tran Thi Hong Diem - CQ56/51.03


Academy of Finance

Graduation Thesis
ABSTRACT

The thesis studied the factors affecting the business dynamics of Nimex Joint
Stock Company in the period of 2019-2021. In order to understand the strengths,
weaknesses, opportunities and challenges for Nimex Joint Stock Company and
more importantly, to propose a business strategy for the company. From the results
received, the thesis has proposed business strategies and solutions for the company
in the coming years.

Tran Thi Hong Diem - CQ56/51.03


Academy of Finance

Graduation Thesis
ACKNOWLEDGEMENTS

First and foremost, I would like to express my heartfelt gratitude to my
thesis's advisor, MA. Phan Thi Xuan, for her kind consultation, invaluable advice,
constant encouragement, and practice in providing helpful comments. She gave me
a lot of recommendations and invaluable feedback to my study. Without her, this
study would not have been achieved. Next, I truly appreciate the internship
opportunity that Nimex Jonit Stock Company gave me. My heartfelt thanks to all
the directors, the bankers, who have guided me not only in knowledge but also in
working experience, for their dedicated, patient and understanding helped me to
complete this research well.
Special thanks are given to every teacher and my friend from the Faculty of
Foreign Languages of the Academy of Finance for supporting and giving me advice
on my thesis. In addition, they have given me various and useful knowledge and

skills in my four years studying at the Academy of Finance.
Finally, I would like to take this opportunity to thank all my family members
who have always been by my side helping and encouraging me to complete this
study. I am extremely grateful for all the significant support and encouragement
during my study. 

Tran Thi Hong Diem - CQ56/51.03


Academy of Finance

Graduation Thesis

LIST OF FIGURES
No
1.1
1.2

Content

SWOT
Industry competitive environment

Page
5
15

LIST OF TABLES
No
1.1

1.2
2.1
2.2
2.3
2.4
2.5
2.6
2.7
3.1

Content
SWOT Matrix
Sample of business strategy assessment of enterprises
Asset volatility
Capital fluctuations
Revenue, cost, profit situation
Group of performance coefficient indicators
Cost list for joint promotion activities of Nimex joint stock
company in 2015-2021
Labor structure table at the company
SWOT analysis results
Nimex's SWOT Matrix

Page
7
10
24
28
30
34

42
46
61
76

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Academy of Finance

Graduation Thesis

TABLE OF CONTENTS
DECLARATION.......................................................................................................i
ABSTRACT...............................................................................................................ii
ACKNOWLEDGEMENTS....................................................................................iii
LIST OF FIGURES.................................................................................................iv
TABLE OF CONTENTS.........................................................................................v
INTRODUCTION.....................................................................................................1
1.Rationale Of The Study...........................................................................................1
2. Aims Of The Study.................................................................................................2
3. Scope Of The Study................................................................................................2
4. Methodology Of The Study....................................................................................2
5. Organization Of The Study.....................................................................................2
CHAPTER 1: LITERATURE REVIEW................................................................4
1.1 Overview of SWOT model...................................................................................4
1.1.1 Introduction to SWOT analysis model........................................................4
1.1.2 Content of SWOT model analysis method..................................................6
1.1.3 Pros and cons of SWOT analysis model...................................................11
1.2 Factors influencing SWOT model analysis........................................................11

1.2.1 External environmental factors:................................................................11
1.2.1.1 Domestic and world economic environment:..................................11
1.2.1.2 Political and legal environment.......................................................12
1.2.1.3 Natural environment........................................................................13
1.2.1.4 Socio-cultural environment..............................................................14
1.2.1.5 Competitive environment of enterprises..........................................14
1.2.2 Elements of the inner environment...........................................................16
1.2.2.1 The impact of marketing..................................................................16
1.2.2.2 Impact of human resources..............................................................16
1.2.2.3 Organizational structure of the enterprise......................................17
1.2.2.4 The financial situation of the business.............................................17
CHAPTER II: THE STUDY..................................................................................18
2.1 General introduction to Nimex Joint Stock Company........................................18
2.1.1 Formation and History...............................................................................18
2.1.2 Organizational structure and management apparatus................................20
2.2 Analyzing Nimex Joint Stock Company by using SWOT analysis....................23
2.2.1 Analyzing internal factors.........................................................................23
2.2.2.1 Financial state....................................................................................23
2.2.1.2 Marketing strategies..........................................................................36
2.2.1.3 Human resources...............................................................................46

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2.2.1.4 Nimex's organizational structure.......................................................51
2.2.2 Analyzing external factors.........................................................................52

2.2.2.2 Political and legal environment.........................................................54
2.2.2.3 Natural environment..........................................................................55
2.2.2.4 Social environment.............................................................................56
2.3 Summary of SWOT analysis results of Nimex Joint Stock Company...............59
CHAPTER III: RECOMMENDATIONS............................................................61
3.1 Future orientation of Nimex Joint Stock Company............................................61
3.2 Solutions to improve the effectiveness of the Company’s Swot model.............63
3.2.1 French prices improve the company's business situation..........................63
3.2.2 Product Policy Solutions...........................................................................64
3.2.3 Price Policy Solutions...............................................................................66
3.2.4 Mixed Promotion Policy Solution.............................................................66
3.2.5 Improving the quality of human resources................................................68
3.2.6 Solutions on management organization of enterprises..............................70
3.2.7 Some other recommendations...................................................................71
3.2.7.1 For the State and local authorities....................................................71
3.2.7.2 For the company................................................................................72
3.3 Build the SWOT matrix......................................................................................73
3.3.1 Strengths - Weaknesses - Opportunities - Risks.......................................73
3.3.2 SWOT Matrix.............................................................................................75
3.3 Apply swot analysis model to select Nimex's business strategy for the period of
2022-2025.................................................................................................................77
3.3.1 Identify the most suitable strategic group.................................................77
3.3.2 Strategic options........................................................................................78
3.3.2.1 Content of the options........................................................................78
3.3.2.2 Select strategic options by method for points....................................80
CONCLUSION.......................................................................................................82
REFERENCES........................................................................................................83

Tran Thi Hong Diem - CQ56/51.03

Academy of Finance

Graduation Thesis
INTRODUCTION

1. Rationale Of The Study
SWOT – a useful tool for understanding and decision making in any
situation for any business organization. With this toolkit, it will help businesses
capture and recognize strengths and weaknesses, as well as find opportunities and
challenges to have a business strategy to help businesses develop in a sustainable
and good way. more beautiful.
In the current market mechanism under the management of the State of Vietnam, all
enterprises must be completely autonomous in doing business, making their own
decisions and taking responsibility for their business activities. On the other hand,
each enterprise is an open economic module in the national economy and gradually
integrates with the regional and world economy, which requires businesses not only
to pay attention to the current situation and trends, changes in the domestic business
environment, but also must take into account both the positive and negative impacts
of the regional and international business environment. The business environment is
getting wider and wider, the competitive and volatile nature of the environment is
getting stronger and stronger, the future direction is increasingly important for the
development of the business. Business strategy is a tool to orient and control an
enterprise's

activities

according

to

objectives

suitable

to

environmental

circumstances and therefore, it plays a decisive role in the success or failure of the
business
Nimex Joint Stock Company, over the course of more than ten years of
establishment and development, has gradually asserted its position and is currently
the leading producer of stone powder and agro forestry products in terms of market
share. provincial school. However, Vietnam's accession to the WTO, which means
that Vietnam must open its market to 100% foreign-owned enterprises to operate
freely and equally in the Vietnamese market, has led to the fiercer competition in
the near future. In addition, the global financial crisis and the stagnation of the
domestic economy are also directly affecting the existence and development of all

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Graduation Thesis

branches of the national economy, including the economic sector. import and export

sector
Faced with that situation, Nimex Joint Stock Company needs to devise a business
strategy to capture business opportunities, limit difficulties and challenges to
continue developing? This is an issue of vital importance for the company in the
near future
During the internship at Nimex Joint Stock Company, on the basis of the
knowledge that was equipped at school, combined with the understanding of the
actual business situation of the Company, I would like to choose the topic:
“Analysis of SWOT model during/after Covid period at Nimex Joint Stock
Company” for the graduation thesis
2. Aims Of The Study
The study was carried out to answer the following questions:
1. What is the current situation of analysis of SWOT model at Nimex Joint
Stock Company?
2. What are the solutions to improve the effectiveness of analysis of SWOT
model of Nimex Joint Stock Company?
3. Scope Of The Study
Due to the limitations of time and scale, the study online focus on SWOT
model at Nimex Joint Stock Company from 2020 to 2021
4. Methodology Of The Study
The thesis focuses on using the following research methods:
-

Statistical method

-

Comparative method

-

Analytic – synthetic method

5. Organization Of The Study
Apart from the introduction, Conclusion, and References, the study includes the
following chapters:
Chapter 1: Literature review
This chapter introduce theory related to SWOT model.

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Chapter 2: The study
This chapter shows the situation of SWOT model activities at Nimex Joint Stock
Company.
Chapter 3: Recommendations
This chapter suggests some solutions to improve the effectiveness of the Company’s
SWOT modelgr

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CHAPTER 1: LITERATURE REVIEW
1.1. Introduction to SWOT analysis model
The SWOT analysis model is a very useful tool for capturing and making
decisions in any situation for any business organization. SWOT stands for
Strengths, Weaknesses, Opportunities, and Threats. SWOT provides a tool for
strategic analysis, reviewing and evaluating the location, orientation of a business or
a business plan. SWOT is suitable for teamwork and analysis, used in business
planning, strategy formulation, competitor evaluation, marketing, product and
service development, etc. In SWOT analysis models, strengths and weaknesses are
intrinsic factors of the company and opportunities and threats are external factors.
SWOT allows the analysis of various factors that have a relative effect on the
competitiveness of the company.
SWOT analysis is the subjective evaluation of data arranged in SWOT
format in an easy-to-understand logical order, easy to present, easy to discuss and
make decisions, which can be used in any decision-making process. SWOT patterns
allow for thought stimulation rather than based on habitual or instinctive responses.
The SWOT model was born in the 1960s and 1970s at Stanford research
institute. The original purpose of the study was to understand the causes of the
failure of companies' long-term planning. It was funded by the 500 largest U.S.
companies of the time. Managers of this period argued that making a business
strategy of the business in the form of a long-term plan was an expensive but less
effective investment. In fact, the crux of the matter is how to get the management
team to agree and come up with a capture able action plan. To solve this problem,
the Stanford Research Institute team, including Marion Dosher, Dr. Otis Benepe,
Albert Humphrey, Robert Stewart, Birger Lie, sought to build a model, a system
that could help the management team evaluate and do its job well.

The team takes the first step by gathering information and evaluating what is
good, what is bad in current and future operations. The good in the present
manifests itself in satisfactory, which in the future manifests itself in opportunity;
The bad side of the present manifests itself in the fault, which in the future

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manifests itself in danger. This model of analysis was originally called SOFT. After
the model was introduced to Urick and Orr in 1964 in Zurich, Switzerland, they
changed F to W (Weak) and SWOT was born from there. The first version was
tested and presented in 1966 based on work at Eie Technology Corp. In 1973,
SWOT was used at J W French Ltd and has been growing ever since. In early 2004,
SWOT was perfected and demonstrated its superiority in setting and unifying the
business objectives and strategies of organizations and businesses without relying
on consulting or other costly resources.

Figure 1.1: SWOT
From the above drawing we can understand that SWOT analysis is an
analysis of four factors: Strengths, Weaknesses, Opportunities, and Threats.
Strengths and Weaknesses are internal factors in the business. Opportunities and
Threats are external factors that affect the business. Weaknesses and Threats are
negative factors for the business, while Strengths and Opportunities are positive
factors. In order for enterprises to operate production and business effectively,

enterprises must build for themselves strengths; overcome weaknesses; search,
explore opportunities and minimize threats.
1.2 Content of SWOT model analysis method

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In order to apply SWOT analysis model to the development of business
strategy in the enterprise, it is necessary to first conduct information collection,
analyze the factors of the internal and external environment affecting the business
according to strengths criteria, Weaknesses, Opportunities, Threats.
Strengths: What are the advantages of your business? What business is the
best business? Which business resources are the strongest? The above issues must
be considered and evaluated in a practical and objective way.
Weaknesses: What are the biggest weaknesses for the business? What
weaknesses can be improved? What should businesses avoid doing? Why can your
competitors do better? It is necessary to pay attention to collecting information
about the market and of competitors, conducting comparisons and comparisons to
detect our own weaknesses that we may not see without comparison.
Opportunities: Where is your business's best opportunity? What trends in
the market need to be taken care of? What is the growth potential of the market?
The most effective way to identify opportunities is to review the strengths of the
business itself and ask yourself whether that advantage will bring or open up any
new opportunities for the business or vice versa, review the weaknesses of the

business and question whether there are any opportunities that arise if they are
eliminated.
Threats: What obstacles are businesses facing and will face? What might
your competitors have in mind? How can the fluctuations of the economy affect
businesses? Is there a problem with solvency as well as for the cash flow of the
business? After analyzing the relatively independent factors in the SWOT model,
these elements are sorted and synthesized into a table called the SWOT matrix. The
SWOT matrix consists of 9 cells: 4 cells that list the factors of strengths weaknesses - opportunities - risks; 4 cells list the strategic options formed and 1 cell
is always left empty (top cell, left):

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(Always empty)

Opportunities

Threats (Risk)

(Opportunity)

(Listed)

(Listed)

Strengths (Strengths)

SO strategies

ST strategies

(Listed)

(Listed)

(Listed)

Weaknesses(Weaknesses)

WO strategies

WT strategies

(Listed)

(Listed)

(Listed)

Table 1.1: SWOT Matrix
The SWOT matrix is an important and effective combination tool that can
help managers develop four types of strategies: Strengths-Opportunity strategies
(SO); strategic weaknesses - opportunities (WO); Weakness-risk strategy (WT) and
strength-risk strategy (ST). Combining the above elements together is the most
difficult task in applying the SWOT model. It requires good judgment and

recognition of the problem. Looking at the table above, we will have 4 specific
strategies above that are understood as follows:
SO strategy: Businesses use their inner strengths to exploit and take
advantage of external opportunities. This is the most ideal position that a business
has always wanted to have and all managers want their business to be in a position
where internal strengths can be leveraged to embrace external trends and
opportunities.
WO Strategy: Businesses improve, overcome internal weaknesses by taking
advantage of opportunities from the outside. Sometimes there are good
opportunities from outside that existing but the business has weaknesses that
prevent it from taking advantage of these opportunities.
ST strategy: Businesses promote their own inner strengths to avoid or
minimize negative influences from external threats.
WT strategy: These are corporate defense strategies aimed at minimizing
internal weaknesses and avoiding threats from the external environment. A business
in this situation often has bad business results, has to overcome many weaknesses,

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Graduation Thesis

and has to deal with external threats. In this case the business must struggle to
survive, link or merge to avoid the risk of bankruptcy.
After creating the SWOT matrix and considering the coordination, one must
look at it in an overview combined with experience and judgment to determine the

most suitable strategic options. Once the strategic options have been identified,
these options will be considered to come up with the most optimal strategy for the
business by the method of giving points.
Some criteria used for evaluating and selecting strategies:
 Is the strategy appropriate for environmental circumstances?
 Is it in line with the integration trend of Vietnam’s economy?
 Is it in line with the government's policies and policies?


Is it in line with the overall development trend of the industry?

 Does the strategy help businesses gain advantages over competitors?


Does it help the business to develop its strengths? Does it help
businesses avoid direct confrontation, avoid the strengths of
competitors?

 Is the organizational structure, internal policy, management style and
business philosophy of the business in line with this strategy?
 Does the organizational structure make sense? What major
adjustments do we need?
 Is the management style, business philosophy suitable?
 Does internal policy facilitate or hinder the implementation of the
strategy?
 Does the company's human resources meet the requirements of
implementing the strategy?
 Can the current number of employees be met?
 Missing and weak in which department?
 What is the quality of human resources?



8

Is the cost of retraining high or low?

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 What is the level of financial risk when providing capital to
implement the strategy? The ability to raise investment capital?
 The possibility of payback?
 The time limit for returning investment capital?
 Are the potential benefits worth the risks?
 Is the strategy right for the future? Is the timing of the strategy
appropriate, does it work?
 Are the analyses, judgments, assumptions mentioned consistent with
reality?
 Make a table to evaluate strategic options according to the principle:
 The total weight of all factors is 1; Give the level of response of each
strategy according to each factor determined according to the
following principle:
o 1 - 2: Weak
o 3 - 4: Poor 5 -6:
o

Average 7 -8:

o Pretty 9-10: Good.
 The total score that the strategic options receive is between 1-10.


Principle of choice:
o Eliminate all options with a total score of less than 5.00
o Choose the strategic option with the highest total score.

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TT
1
2

3

4

Graduation Thesis

Importance
level

Criteria

Option 1
Categor
y

Point

Option 2
Categor
y

Point

Option n
Categor
y

Point

Suitable
for
environmental
circumstances.
Give the company an advantage over its
competitors.
In line with the organizational structure,
internal policies, management style and
current business philosophy of the
business

The ability of human resources to
respond

5

The level of financial security

6

The potential benefits are worth the risk.

7

Suitable for the future of development.

8

The right time to do it

9

Authenticity of analysis and judgment
Total points

1.00

Source: Business Strategy and Business Development Syllabus (Tr77)
Table 1.2: Sample of business strategy assessment of enterprises

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1.3 Importance of SWOT

The analysis of the SWOT Matrix is one of the 05 steps to form a
business strategy, which has implications for the business in the formation of
the domestic business strategy and in the formation of an international
business strategy to meet the development needs of the business.
SWOT analysis is an indispensable stage in the process of planning the
business strategy of the business especially in the case when the business
wants to develop, step by step create a reputation and brand for themselves in
a solid and sustainable way.
SWOT analysis is meant to help subjectively evaluate the data arranged
in SWOT format in an easy-to-understand, easy-to-present, discuss logical
order that can be used in all decision-making processes, it will also provide

useful information for connecting the resources and capabilities of the
business with a competitive environment. the business operates.
The SWOT matrix used will help to bring the most insight into the
organization, the business as well as the specifics of each project, it also helps
the planner or business owner get a more comprehensive and comprehensive
view of strategic planning decision making and planning settings.
Therefore, this model is applied in many stages such as developing a
market development strategy, planning for the company, evaluating
performance, making decisions, evaluating competitors, new product
development plans for market expansion strategies,
Strengths and Weaknesses represent internal elements of the business,
which are two factors that can be controlled and changed. These factors are
related to company operations, assets belonging to the enterprise, product
development,
Opportunities and Threats are external, market-related and macro
factors. Businesses can seize the opportunity but also need and pay attention,

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