Luận văn xây dựng chiến lược kinh doanh tại công ty kiểm toán và kế toán hà nội

THESIS mba

BUILDING BUSINESS
STRATEGY AT THE HANOI
COMPANY PROFESSION OF
AUDITING AND ACCOUNTING
FOR STAGE 2015 TO 2020


CONTENT
Acknowledgement

8

Executive summary

9

Introduction
Chapter 1: The theoretical foundation of building business strategy in

10

enterprises

11

1.1.

Conception of business strategy

11

Concept of business strategy

12

1.1.2. Process of managing business strategy

14

1.1.1.

1.2. Content of building business strategy of enterprise
1.2.1. Defining a vision, determining strategic targets and enterprise’s tasks
1.2.2. SWOT analysis tool

14-15
16-21
22

1.3.

Deployment of business strategies

1.3.1

Targets, conditions of business environment and selected strategy

1.3.2

Organizing an apparatus for implementation

1.3.3

Allocating and adjusting resources

1.3.4

Building a plan for deployment

1.4.

Summary and evaluation

1.5.

The necessity of finishing the establishment of business strategies

1.6.

Methods of studying and applying the strategies.

22
22
23
23
24
25
25
25

Chapter 2: The real situation of establishing and implementing business
strategies of Hanoi Company Profession of Auditing and
Accounting Ltd – CPA Hanoi
2.1. An introduction of CPA Hanoi

26

2.1.1. Overview

26

2.1.2. Organizing structure

27

2.2. Analysis of business activities of CPA Hanoi in 2006, 2007 and 2008
2.3. SWOT analysis of CPA Hanoi

2

28-32


2.4 Analyzing some matters of establishing and implementing business
strategies in CPA Hanoi

33-47
48

2.4.1. Identifying the goals of business strategies of CPA Hanoi
2.4.2. Selecting business strategies

48

2.4.2.1. Determining the major services for the customers.

48

2.4.2.2. Segmenting market and selecting targeted market

48

2.4.2.3. Building material bases and enhancing financial capacity
2.4.2.4 Managing human resource

49-51
52

2.4.2.5. Building suitable organizing structure with the services provided in
the future

53

2.4.3. Carrying out business strategies

53

2.4.3.1. Concentrating on major services

53

2.4.3.2. Formulating marketing plan

53

2.4.3.3. Personnel management

54

2.5. Achievements

54

2.5.1. Results of common targets

55

2.5.2. Targeted clients

55

2.5.3. Personnel management

55-56

2.5.4. Building material bases

56-58

2.6 Analysis of shortcomings in the process of establishing and

58

implementing the business strategies in CPA Hanoi over the past 3

59

years
2.6.1. Shortcomings in identifying the strategic target

59

2.6.2. The process of establishing the business strategies

59

2.6.3. The process of deploying the business strategies
2.7. Analysis of reasons for the shortcomings

3

59-62
63


Chapter 3: Recommendations, solutions and conclusion
3.1. Summarizing the shortcomings of the strategies’ establishment and

64

deployment mentioned in Chapter 2
3.2. Recommendations.

64

3.2.1. Strategy-building process

64-71

3.2.2. Recommendations during the process of implementing business

72

strategies
3.2.2.1. Developing customers by effective marketing strategy

72-79

3.2.2.2. Building up a reasonable organizing structure

80-81

3.2.2.3. Effectively improving personnel management policy
3.2.2.4. Completing criteria to evaluate and monitor

82
quality of the

83

company’s services
3.2.2.5. Changing the structure of paid-in capital

84

3.2.2.6. Enhancing financial capacity

84

3.2.2.7. Integration and Globalization Strategy

85

3.2.2.8. Other services development

85

3.3. Solutions

85-86

3.3.1. Effective Marketing

86

3.3.2. Human Resource Management

87-88

3.3.3. Completing organizing structure of headquarter, branches and
representative offices

89
90-91

3.3.4. Finance

92

3.4. Foundations for implementing recommendations and solutions
3.5. Roadmap for implementing strategies
3.6. Limitations and orientation of studying in the future
Conclusion

93

References

94-95
96- 105

Appendix

4


DATA ANALYSIS SHEET
Sheet 2.1 Summarizing criteria by balance sheet
Sheet 2.2. Criteria of business statement (Currency: VND)

Sheet 2.3. The situation of clients, turnover of each service
Sheet 2.4. The situation of clients, turnover paid by each kind of client
Sheet 2.5. The situation of CPA Hanoi Staffs
Sheet 2.6. The analysis of basic financial criteria
Sheet 2.7. The staffs’ situation at Auditing Company 114 until December 31st,
2008:
Sheet 2.8. The income situation of Auditing Company 114 according to the
structure of services
Sheet 2.9. The client situation of Auditing Company 114, according to kinds of
client
Sheet 2.10. Analyzing respective criteria of competitors in 2008
Sheet 2.11. Analyzing the turnover of competitors
Sheet 2.12. Analyzing other criteria of competitors
Sheet 2.13. Summarizing the market segment and targeted market selection
Sheet 2.14. Analyzing each kind of client
Sheet 2.15. Analyzing changes in the staff
Sheet 2.16. Analyzing staffs who were recruited over 3 past years (2007, 2008 and
2009)
Sheet 2.17. Analyzing changes in the number of clients
Sheet 2.18. Analyzing changes in the number of each separated client
Sheet 3.1. Summarizing recommendations and solutions

5


USED TABLES
Table 1.1. Strategy managing process
Table 1.2. Enterprises’ tasks
Table 1.3. Analysis of macro factors

Table 1.4. Analysis of departmental environment
Table 1.5. SWOT matrix
Table 1.6 Mc Kinsey matrix
Table 1.7. Model 3c for assessment
Table 1.8. Implementing business strategy
Table 1.9. Strategy analysis
Table 3.1. Mc Kinsey matrix
Table 3.2. SWOT matrix
Table 3.3. Model of 7 service steps
Table 3.4. Model 3c for price-fixing
Table 3.5. Defining position
Table 3.6. Personal behaviors in organization
Table 3.7. Cooperation in business activities
Table 3.8. Organizing structure
Table 3.9. The process of quality management

6


APPENDIX
Appendix 01: Basic information of organizing structure, services and clients of
CPA Hanoi
Appendix 02: Criteria and process of personnel recruitment of CPA Hanoi
Appendix 03: Criteria and procedure of auditing service quality assessment.
ABBREVIATION
WTO – World Trade Organization
GDP - Gross Domestic Products
SBU - Stony Brook University
PESNT –Politic, Economics, Society, Nature, and Technology
SWOT - Strengths, Weaknesses, Opportunities and Threats

CPA HANOI –Company Profession of Accounting and Auditing Ltd
VACPA - Vietnam Association of Certified Public Accountants
CPA - Certificate of Public Accountant
VAA - Vietnam Automation Association

7


Acknowledgement
Our great attitude goes to many supporters and supervisors in the process of
completing this assignment before completing the MBA program (GAMBA) which
is carried out by the cooperation between Hanoi National University and GRIGGS
University of the US. We would like to express our appreciation to Dr. Mc Gough,
and Associated Professor Ngo Kim Thanh for their instructions and guidelines of
advanced strategic management, the completion of this study cannot come to an end
without their support
We are deeply indebted to teachers of GAMBA program who help us
improve the knowledge of business management in enterprises. We appreciate the
idea for organizing this semester that is conducted by ETC center of Hanoi National
University and GRIGGS University
Also, we would like to thank board of directors and departmental directors of
CPA Hanoi for their enthusiastic encouragement when we collected the information
about the company to fulfill this assignment.

8


EXECUTIVE SUMMARY
Hanoi Company Profession of Auditing and Accounting Ltd is one of the
best auditing companies in Vietnam. Thanks to great experiences on auditing field

over 10 past years, CPA Hanoi has enjoyed its stable position in domestic auditing
market in Vietnam. Its reputation is realized by many enterprises and trusted by
state owned offices. In fact, many new auditing companies have been founded in
recent 5 years, so the auditing market becomes more and more competitive.
Because CPA Hanoi is one of few enterprises which are allowed to list their shares
on the Vietnamese stock market, we choose CPA Hanoi to carry out our study on
business strategy. We hope that this study will contribute to maintain its current
achievement and develop more stably in the future.
Hanoi Company Profession of Auditing and Accounting Ltd possesses more
strong points than other companies with the same scale. However, in the changing
continuously and strongly competitive market economy, the company needs to
establish duly business strategy, additionally, it is required that the company fulfils
proposed strategies in order to reach the business goals.
In the process of carrying out the study, we applied 2 models of PESNT and
5 competitors to analyze both external and internal environment of this CPA Hanoi.
After comparing its current business strategy with the coming business
environment, we implemented the SWOT analysis to identify the company’s
strategic goals and emphasize on some of its businesses like marketing strategy,
organizing structure, personnel management, and financial capacity. On that basis,
we defined shortcomings and strong points, opportunities and threats. In terms of
business strategy, we analyzed 7 major factors of services generally and auditing
particularly, then we suggested different strategies to develop its market such as

9


central growth strategy, market segment, and the suitable ways to access each group
of client. Because of the invisibility of services, the application of competitive
strategies must be flexible; we should not concentrate on only one specific business
strategy. In this assignment, we mention clearly a strategy for auditing activities. At

the end of this assignment, we used a number of tables to collect and identify
recommendations, solutions so that the strategy can be implemented.
We hope that all information mentioned in this report will be applied in the
business activities of CPA Hanoi

10


CHAPTER I: THE THEORETICAL FOUNDATION OF BUILDING
BUSINESS STRATEGY IN ENTERPRISES
1.1. Conception of business strategy.
1.1.1. Concept of business strategy: “Strategy is the direction and the size of an
organization in a long period: strategy will bring advantages to the organization by
arranging resources in the best way in a competitive environment to meet the
demand of the market and capital contributor’s expectation”.
Up to now, there are a number of concepts of business strategy; however, there
are only three popular concepts which are:
Business strategy is an art:
Alain Threlart: “Strategy is an art which enterprises use to cope with
competition and gain successes.”
Mr.Porter: “Strategy is an art of building firm competitive edge to defend.”
In conclusion, both Alain Threlart and M.Porter consider that business strategy
is an art for competition in market and developing enterprises.
According to the management category, business strategy is a kind of plan:
G. Arlleret: “Strategy is the specification of ways and facilities to obtain the
established goals by policies.”
D.Blzrell and his group of authors: “Strategy is a general plan which leads
enterprises to the expected goals, which is the basis of making policies and the
mechanism of operation.”
Gluecl: “Strategy is a uniform, comprehensive and summarizing plan which

ensures all the enterprise’s goals will be realized.”
According to the concept of combining the unification.
Business strategy is an art which combines activities and manages them to get
the long-term targets of enterprises.

11


Chandler considers that strategy includes specifying the basic long-term targets
of enterprise as well as choosing a method or process of action, allocating essential
resources, and realizing the targets.
In enterprises: “Business strategy is an art of organizing the facilities to achieve
long-term targets of enterprises and have a relationship with business environment’s
changes and competition.”
1.1.1.2. Process of managing business strategy.
Managing business strategy is a process of studying environment to establish
strategic targets, policies, and business solutions of enterprises, to introduce
strategies, business policies into practice, then adjusting, testing and evaluating
implementation’s result and business strategy.
Table 1.1. The process of managing business strategy (source: slide 41 - lecture of
strategic management)

Process of managing business strategy
CONTROL
ENVIRON
MENTS
Analysis
outside
environmen
t

IMPLEMENTATION
STRATEGY

Strategy establishment
Duty


Target

TEST &
EVALUA
TION


Strategy


Policies


Program


Budget


process
&
progres

s

Control
internal
environmen
t

12
Feedback information


Result


1.1.1.2.1 Strategy-forming period.
Forming strategy is the process of establishing business tasks, doing survey to
realize internal and external factors, offering long-term targets and choosing
alternative strategies. Sometimes, process of forming strategy is called ‘Forming
strategic plan’.
The decisions in forming strategic period will connect organization with specific
products, markets, resources and technology in a lasting time.
1.1.1.2.2 Implementing strategy period.
Realizing strategy is often called action period of strategy administrators. Main
activities of this period are:
Establishing annual targets: these are points which organizations must achieve to
get the long-term targets. The annual targets must be measurable, quantitative,
challenging, practical, suitable and preferential. The annual targets are extremely
important in strategy; they are the basis of allocating resources.
The policies: Policies are means of obtaining targets. Policies are the same to
annual targets, they are very important in implementing strategies because they

generalize expectations of administration staff in the organization. These policies
allow cooperation

and synchronization between departments

within

the

organization.
Resources distribution: Resources distribution is a central administrative activity
including implementation of strategy. Strategy administration allows resources to be
distributed according to priorities getting from annual targets.
1.1.1.2.3 Evaluating strategy period
Most of strategy makers agree that evaluation strategies are important to achieve
organization’s prosperity; timely evaluations can warn the administration and
difficulties which can happen before becoming serious situation.
Responding information must be adequate, timely and be a basis of evaluating
strategy which can have no more different information than current one.

13


It cannot be proved a typical strategy as the best, but it can be evaluated by
serious errors.
Richard Rumel suggests four criteria to evaluate that strategy, which are:
consistency; accordance; favor; feasibility
Strategy administration process comprises: Commitment -> Decision ->
Action
Competitive edges of strategy

Sustainable competitive edges
Above average profit
1.2. Content of building business strategy of enterprise
1.2.1. Defining a vision, determining strategic targets and enterprise’s tasks.
Organization’s vision is very important for managers to build up long-term
targets and determine specific tasks to achieve the targets. Its vision can be declared
by forms of enterprise’s slogan or can be enterprise’s motto.
Targets system of enterprises has a general character that expresses an expectation
achieving a particular result from a specific period. Strategic target system shows
expectations of obtaining a certain result in strategic period.
According to Philipte Lasserre, strategic target comprises issues which are
related to business volume such as scale of operation, growth rate, market share and
so on; issues which are related to interest such as revenue, cost, interest and issues
which are related to scale, threat, possession, etc.
Determining tasks, strategic targets of enterprise is extremely important
opening stage in implementing business administration according to strategy. The
targets are identified clearly and specifically, which is important for enterprises to
be successful.
The targets must be adjustable to suit with environmental changes, avoid the
risks and take advantage of opportunities. Nevertheless, it must be very careful as
modifying the targets because this change must be done with responding
modifications in other related strategies as well as action plan.

14


Identifying tasks: when identifying tasks, the enterprise need to define the following
concerns: who need to be satisfied? How to meet the demand for consuming?
We can use the following three – dimensional frame model made by D. Abell:
Table 1.2: Enterprise’s tasks (source: Graph 11 on page 6 - the lecture of strategic

management)

Who need to
be satisfied?Groups

Consumption
demands

of

the demands?
Consumers
thỏa mãn?

Defining
business
lines
How to
satisfy
consumption
demand?

Strategic vision and historical missions can be summarized in this table:
• Strategic vision refers to future

• Confirm

that

most

of

missions

the

management’s direction of the

company’s

will

company “Where will we go?”

concentrate on current business

• Markets that need to be pursued

“Who are we and what are we

• Future focus is technology,

doing?”
• Current products and services

service or customer.
• Company’s

model

• Customer’s demand is serving

that

• Technology

management board is pursuing

capacity

15

and

operating


1.2.2. SWOT analysis tool
1.2.2.1. Analyzing external environmental factors:
External environment is a system of complex factors which always has abilities
to affect enterprise’s operation at different levels. Fluctuation of these factors is out
of enterprise’s control; these factors alternatively affect strategic administration of
enterprise. Therefore, to make the most use of opportunities, restrict and prevent the
risks timely to raise efficiency, decrease damages in strategic administration,
enterprises should analyze carefully external environmental factors, including micro
environment and macro environment.
a.

Macro environment: including these factors: political – legal –

governmental environment; economic environment; social and cultural
environment; technological and natural conditions.

TABLE 1.3. Analysis Environments

Economic
factors

Technological
factors
Political factors
and laws
internal
business
environment
Socio-cultural factors

Natural
factors

16


b. Micro environment: including the analysis of five competition forces such as:
potential competitors; direct competitors; customers; suppliers; alternative products
or services;
Table 1.4. Business Environment in the country (Source; charter 5 competition
forces- slide 17 pages 9. Presentation Strategy management)
Potential competitors
Risk of new

competitors
Cause pressure
suppliers
Suppliers

Competitors in the industry



Ability to
pressure
customers
Customer

The competition between firms in
the industry

Risks of products and services instead
Substitutes

1.2.2.2. Analyzing enterprise’s internal environment:
Enterprise’s internal environment comprises a system of tangible and
intangible elements existing in the process of enterprise’s operation and directly
affecting the progress of strategy administration. Each enterprise has a differently
internal environment, having both strong points and weak points, and changing by
time.

17

Analyzing internal environment is a necessary need to every kind of
organizations in an economy. This is the basis helping enterprises clearly
understand their strong points and weak points compared with their competitors; at
the same time helping administrators realize ability of catching markets’
opportunities in each period. In other words, analyzing internal environment is to
“Have both feet on the ground”, and thanks to doing so administrators have a basis
to define tasks, suggest targets and formulate strategy which are adjustable to
internal and external environment of organizations.
Analyzing strong points and weak points of internal environment is done by
basic contents: Analyzing and evaluating resources such as human resources,
material resources including production capital, machine and equipment stock,
reserve raw material, information on business environment; intangible resources
including main thought on business philosophy; business strategies and policies
adjustable with environment; efficient organizational structure; customer’s goodwill
and loyalty…
Analyzing the operation of function departments in organizations including:
marketing department; human resource department; finance and accounting
department…
All the enterprises have both strong points and weak points in business fields. No
enterprise is all weak or all strong in every field. The internal strong points and weak
points combining with external opportunities and threats are basic elements which
enterprises should regard as building strategy. Determining the strong points and
weak points based on comparing with other enterprises in their field and their
operation’s results. The strong points are the ones which are done better than their
competitors, the ones which are not easy for the competitors to have, and become
competitive edges of enterprises. The weak points are the limitations of enterprises;
they are points which enterprises need to adjust as building strategy.
1.2.2.3- Evaluation method of business environment

18

In evaluating factors of business environment, there will have a number of
opportunities and threats; there is a need to find out a method concentrating on the
most attractive opportunity and the worst threat.
Popular methods are used:
-

Summarizing scale of business environment

-

Matrix of internal and external factors

-

Analysis of SWOT matrix

-

The priority’s order of opportunities and threats

Using SWTO matrix to summarize the above analyzing process is necessary and
appropriate.
Being a business manager, you need to have a strategy to be successful.
Business strategy looks toward further future of company. Company’s
administrators are easy to forget and miss a business strategy because they are so
busy with current work. In this situation, you cannot know how to locate your
business and where it stands. With good strategic skills, you will set up real targets
and clearly know how to achieve them in the future. Strategy decides your

enterprise’s future or the enterprise can lose the position in market for the
competitors. However, before choosing or building a business strategy for
enterprise, you should analyze Strong points, Weak points, Opportunities,
Threats or in other words SWOT. So what is SWOT?
Table 1.5. SWOT matrix model (source: SLIDE 26 – Lecture of strategic
management)

SWOT MATRIX

STRONG POINTS - S

WEAK POINTS - W

OPPORTUNITIES - O

STRATEGIES - SO

STRATEGIES - WO

THREATS - T

STRATEGIES - ST

STRATEGIES - WT

Analyzing SWOT

19

Internal environment’s factors of an enterprise can be classified as Strong points
(S), weak points (W); external factors can be classified as opportunities (O) and
threats (T). This analysis for strategic environment is called the analysis of SWOT
matrix.
The analysis of SWOT matrix provides helpful information in harmonizing
resources and company’s capacity with competitive environment in which company
is operating. Therefore, this is a tool in choosing strategy.
Strong points: strong points of an enterprise are resources and capacity which
are used as the basis of developing competitive edges.
Weak points: having no above-mentioned strong points is weak point of
enterprise.
Opportunities: external context can create new opportunities for enterprise to
grow and develop.
Threats: the change of external environment can also bring back a lot of threats
to enterprise.
SWOT connection
•

S – O strategies: pursuing the most appropriate opportunities by the strong
points of enterprise.

•

W – O strategies: overcoming the weak points to pursue opportunities.

•

S – T strategies: determining the ways which enterprise can use its strategies
to decrease damages from external threats.

•

W – T strategies: setting up a defensive plan to prevent the weak points of
enterprise from external environment.

1.2.2.4. Evaluating ability of competition:
To evaluate competitive ability of an enterprise, people often use MC KINSEY
matrix.

20


Table 1.6. MC KINSEY matrix (source: SLIDE 25 – lecture of strategic
management)
THE
ATTRACTIO

Strong

Medium

Weak
High

N
OF
BUSINESS

Medium
Low

Competitive ability of enterprise

1.2.2.4- Choosing and building all kinds of business strategies
Popular business strategies are often referred: function strategy; business
level strategy; global strategy; company level strategy; evaluating and choosing
suitable business strategy.
Business strategies of an enterprise include growth strategy, business strategies
of SBU, function strategy.
Three basic strategies for competition applied in reality include strategy for cost
domination, strategy for distinguishing product, and strategy for centralization
Growth strategies include: central growth strategy (consisting of 3 small
strategies of market penetration, market development, and product promotion);
Integration strategy for growth (consisting of 3 small strategies of merger,
acquisition and joint-venture); Business diversification strategy (including
diversification strategies of concentricity, laterality and mixture); Function strategy
(including strategies of finance, personnel, technology, marketing, production and
investment)
When using cost dominated strategy, the model 3c can be used
Table 1.7. the model 3c for pricing-fixing (source: lecture of marketing strategy)

21


PRICE-FIXING

MODEL 3C FOR MAKING PRICES
HIGH
PRICE
( No
possible

demand at
this price )

CUSTOMER’S COMPETITOR’S
Assessment of Prices and prices
unique product
of substitutes
features

COST

LOW
PRICE
( No
possible
profit at this
price )

1.3. Deployment of business strategies
1.3.1. Targets, conditions of business environment and selected strategy:
1.3.1.1 Reviewing the targets of business strategy:
Enterprise needs to review and revaluate chosen strategic targets to see whether
they are suitable with company’s situation or not? And its implementation
1.2.1.2 Reviewing conditions of business environment and chosen strategy.
In current situation, there are a number of environmental factors to raise the
position of strategy administration, big social aspect has affected to a branch and
companies in this branch such as: demography, economy, politics, cultural and
social companies, technology and science of globalization.
With the markets are more competitive, value chain is an important tool to
improve competitive ability of enterprise. Globalization and liberalization economy

have bring back instability to making strategy.
1.3.2 Organizing an apparatus for implementation.
Organizing the apparatus is a process of determining work that need to be
done; establishing departments and boards, assigning task to units, person; creating
horizontal and vertical relationship in internal organization to realize its strategic
targets in effective ways. Organizing engine effectively is to ensure good
implementation of administration function and efficiently serve common targets.
The tasks in the correlation of enterprise decide which organizing models are
chosen to set up such as: online model, function model, mixed model. After that,
administrators implement the process of organizing apparatus including seven steps:

22


determining enterprise’s targets; analyzing work; establishing departments and
boards; determining staff; assigning tasks; organizing cooperating and realizing
tasks; verifying and reorganizing.
Table 1.8. 7 steps for implementing business strategy

Identifying enterprise objective

Analyzing its business

Establishing departments

Planning staffs

Assigning tasks
&labourdistribution
Evaluation & reorganization

Cooperation to fulfill the assigned
tasj
1.3.3 Allocating and adjusting resources:
Resources are the asset of one company, including human resource,
trademark value, and the input of production process of a company such as:
equipment capital, staff skills, trademark, financial resource, good managers.
These resources have tangible and intangible relationship such as: finance,
material, organization, human resource, innovation, and fame.
Therefore, at present, enterprises need to adjust human resource
appropriately and scientifically, and to define criteria such as value, rarity, too
expensive to imitate, and having no alternative product. Main competences are
resources and ability to bring back competitive edges to a company, creating the

23


competitive distinction of a company and reflecting that company’s characters,
helping company neutralize the threats and making full use of future opportunities.
1.3.4

Building a plan for deployment:

General business strategy of enterprise has the orientation of all its activities and
it is built by the following steps:
Strategic planning: determining mission, vision and major value, analyzing and
formulating strategy.
Concretizing strategy: identifying strategic targets and decisive ideas, defining
targets, measurement tools, and strategic initiatives.
Setting plan: Improvement plan of operating process, formulating sale plan,
planning the capacity of resources and budget provision.

Implementation: operating plan and functions.
Monitoring and evaluating: evaluating strategy and assessing implementation.
Experimenting and adjusting strategy.
Analyzing profit and strategy
Analyzing strategies: use the following model to analyze the strategic factors
Table 1.9. The model of strategic analysis (source: slide 39 on the page of 20 –
lecture on strategic management)
VISION
MISSION

STRATEGY
STRUCTURE

ENVIROMENT
SYSTEMS

COMPETITION
RESOURCES

VALUES

CUSTOMERS

PROCESSES
SHAREHOLDERS

EMPLOYEES

CHANGE

SUPPLIERS
GROWTH

STAKEHOLDERS
GLOBALIZATION

LEADERSHIP

1.4.

DECREASE
Summary and evaluation:

DECONSTRUCTION

Enterprises need to wrap up, summarize and assess process of setting up
and effectuate the periodic business strategy annually or by the proper time, so
that they can find out factors to make success as well as find out limitations to
fix in time.

24


1.5.

The necessity of finishing the establishment of business strategies.
High competitiveness of the market economy and fluctuating world’s

economy situation has both positive and negative sides. There are factors
which directly or indirectly affect enterprises; therefore, there will be

considerable impacts to the implementation of business strategy’s targets. So,
the managers should review their targets frequently and supplement suitable
business strategy to achieve the targets and maintain the sustainable
development of enterprises.
1.6.

Methods of studying and applying the strategies
In the process of carrying out the project, we have used these methods:
Collecting document: primary document including: original documents

of our unit on business administration, financial statements, our company’s
annually summarizing report, company’s regulations, secondary documents
such as the copy of annual report of Vietnam Association of Certified Public
Accountants, the documents of Government and Ministry of Finance which are
related to company’s operating field, information from newspapers and on the
websites of Ministry of Finance, Ministry of Planning and Investment, Vietnam
Association of Certified Public Accountants…
Using of question table related to researching issue
Directly interviewing Director Board, Operation Manager in our
Company on the company’s real situation in setting up and implementing
business strategy.
Analyzing collected document and information and completing the
project according to chosen content.

CHAPTER II: THE REAL SITUATION OF ESTABLISHING AND
IMPLEMENTING BUSINESS STRATEGIES OF HANOI COMPANY
PROFESSION OF AUDITING AND ACCOUNTING LTD– CPA
HANOI

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