Business Environment Assignment 2

BTEC HND IN BUSINESS
(FINANCE)
ASSIGNMENT COVER SHEET
NAME OF STUDENT
REGISTRATION NO.
UNIT TITLE

Trần Quyết Thắng - Joe
F05 - 194
Business Environment (Unit 1)

ASSIGNMENT TITLE

Vietnam Association of Seafood Exporters and Producers
(VASEP)

ASSIGNMENT NO
NAME OF ASSESSOR
SUBMISSION DEADLINE

2 of 2
Jubred A. Peñano
January 8, 2013

I, Trần Quyết Thắng - Joe hereby confirm that this assignment is my own work and not copied or
plagiarized from any source. I have referenced the sources from which information is obtained by me
for this assignment.

________________________________
Signature

______01/08/2013_____
Date

----------------------------------------------------------------------------------------------------------------

FOR OFFICIAL USE
Assignment Received By:
BE A2 2012-2013 HVNH

Date:
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Unit Outcomes - BE A2
Outcome

Evidence for
the criteria

Assessor’s
Decision

Feedback

First
attempt

Understand
the behavior
of

organizations
in their market
environment
LO3

Be able to
assess the
significance of
the global
factors that
shape national
business
activities
LO4

Explain how
market
structures
determine
pricing and
output decisions
of businesses

3.1

Illustrate the
way in which
market forces
shape
organizational

responses using
a range of
examples

3.2

Judge how the
business and
cultural
environments
shape the
behaviour of a
selected
organisation

3.3

Discuss the
significance of
international
trade to UK
business
organisations

4.1

Analyse the
impact of global
factors on UK
business

organisations

4.2

Evaluate the
impact of
policies of the
European Union
on UK business
organisations

4.3

Merit grades awarded

M1

M2

M3

Distinction grades awarded

D1

D2

D3

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Internal
Verification


Outcome

Evidence for
the criteria

Assessor’s
Decision

Feedback

First
attempt

Rework

Assignment
( ) Well-structured; Reference is done properly / should be done (if any)
Overall, you’ve
Areas for improvement:

ASSESSOR SIGNATURE

DATE

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DATE

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NAME:............................................................................................

(Oral feedback was also provided)
STUDENT SIGNATURE
NAME :.................................................................................
FOR INTERNAL USE ONLY
VERIFIED
YES
NO
DATE
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VERIFIED BY : .............................................................................
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: .............................................................................

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Vietnam Association of Seafood Exporters and
Producers (VASEP)
Title page

Prepared for: Professor Jubred A. Peñano
Business Environment
Organizations in Their Environment
Banking Academy, Hanoi

World count: 3,358 (not include the table)
Submitted on January 8, 2012

Prepared by: Trần Quyết Thắng (Joe)
Class: F05-B
Registration No.: ITP- F05 - 194

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Vietnam Association of Seafood Exporters and
Producers (VASEP)
Executive summary
This report aims to find out the market structure of VASEP in local market and the
international and how it influence to the making decision of VASEP about the price, volume,
etc. besides, VASEP culture also affect its activities in the international market and the
business environment of EU - one of the biggest customer of VASEP.
The find shows VASEP structure in local is oligopoly, and in the international market is
monopolistic competition. Additionally, there are many policies about social, regional,
contact law policies.
It is clearly that VASEP has tried too much to have the suitable decisions for particular
market and the right behavior that follow the laws, the regulations of the foreign markets
especially EU.

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Table of Content

Title page.....................................................................................................................................i
Executive summary....................................................................................................................ii
Introduction................................................................................................................................1

Outcome 3.1: Explain how market structures determine pricing and output decisions of
businesses...................................................................................................................................1
3.1.1. Local............................................................................................................................1
3.1.2. The international market..............................................................................................2
Outcome 3.2: Illustrate the way in which market forces shape organizational responses using
a range of examples....................................................................................................................4
The international market.........................................................................................................4
Threat of new entrants: low.................................................................................................4
Threat of substitutes: high...................................................................................................4
Customer’s power: high.......................................................................................................5
Suppliers’ power: low..........................................................................................................5
Intensity of competition: high.............................................................................................6
Ways of competing..............................................................................................................6
Marketing segmentation:.....................................................................................................6
Marketing mix:....................................................................................................................6
Competitive strategies:........................................................................................................7
Outcome 3.3: Judge how the business and cultural environments shape the behavior of a
selected organization..................................................................................................................7
Outcome 4.1: Discuss the significance of international trade to UK business organizations....8
Outcome 4.2: Analyse the impact of global factors on UK business organisations.................10
4.2.1. The political factor....................................................................................................10
4.2.2. The economical.........................................................................................................10
4.2.3. The social factors.......................................................................................................10
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4.2.4. The technological factors..........................................................................................10
4.2.5. The environmental factors.........................................................................................10

4.2.6. The legal factors........................................................................................................11
Outcome 4.3: Evaluate the impact of policies of the European Union on UK business
organizations............................................................................................................................11
4.3.1. Monetary system (EMS)............................................................................................11
4.3.2. Common agricultural policy......................................................................................11
4.3.3. The social welfare......................................................................................................12
4.3.4. Regional policy..........................................................................................................12
Reference..................................................................................................................................13
Table 1: The market structure of VASEP...................................................................................1
Table 2: The prices of VASEP and its competitors....................................................................1
Table 3: The competitors of VASEP in international market.....................................................2
Table 4: The shrimp price in Japan market of VASEP...............................................................3
Table 5: The average price of frozen pangasius fillet between VASEP's competitors...............3
Table 6: The volume of pangasius fillet and tiger black shrimp in 2011...................................3
Table 7: The substitutes of seafood............................................................................................4
Table 8: The marketing segment of VASEP...............................................................................6
Table 9: The yield of pangasius fillet and tiger black shrimp in 2011 and 2012.......................9

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Introduction
VASEP is one of the biggest seafood associations in Vietnam and its members include a lot of
huge Vietnamese companies about producing and exporting seafood. As the result, VASEP
always try to find the judicious ways to improve in the international market by following the
requirement of other countries. Besides, there are many benefits of international trade; it does
not consist of the profit but also the market share and reputation of VASEP. All of them make
VASEP become stronger and have strengthened position in the market.

Outcome 3.1: Explain how market structures determine pricing and output decisions of
businesses

a)
b)
c)
d)
e)

Market Type
Pricing
Volume (Units)
Product Variety
Customers

Local

International

Oligopoly
High
Average
Wide
Many

Monopolistic competition
Competitive
High
Wide
Many

Table 1: The market structure of VASEP

3.1.1. Local
a) The competitors of VASEP are:


Ca Mau Association of Seafood Exporters and Producers (CASEP) - 2007



VINAFIS – 2000



Directorate of fisheries - 1990

This shows that VASEP has an Oligopoly structure
b) The product price of VASEP is also affected by this competitor. Therefore, VASEP set a
suitable price to take advantage of competing and attract more customers with high
market share.
The table below shows the comparative prices of VASEP and its competitors:
CASEP
Pangasius fillet (1kg)
24,000 VND
Penaeus monodon (20 shrimps/1kg) 240,000 VND

VASEP
41,000 VND
230,000 VND

VINAFISH
41,000 VND
251,000 VND

Crab egg(1kg)

50,000 VND

47,000 VND

51,000 VND

Table 2: The prices of VASEP and its competitors

(VASEP, 2012; CASEP, 2012; VINAFISH, 2012)
c) The local market always is the traditional market for VASEP so they do not need to
provide too many products but it is still enough to supply the Vietnam customers’
demands. It is about 479.000 tons in the end of 2011.

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d) There are some main products such as tiger black shrimp, pangasius fillet, tuna, tilapia,
bivalves… so customers have many choices.
e) The main customers of VASEP are individual, the retailers and the organizations like

seafood restaurants, supermarkets…like Big C, METRO, and COOPMART or Minh
Long Seafood Restaurant, Melia hotel, Hanoi Hotel, My Way, Sushi bar …
3.1.2. The international market

a) The products of VASEP and other associations in the world are differentiated so the
associations can raise the price without losing all of their customers. Because of the
different farming condition of each country, the differentiated products sold in the
monopolistic competition have some features that make customers prefer it to available
related seafood of other associations.
This below shows the competitors of VASEP in international market:

Fresh & Frozen Seafood Association of the Philippines (FFSAP)
Indonesian Frozen Seafood Association (APSI)
Malaysian Frozen Food Processors Association (MFFPA)
Myanmar Fishery Products Processors & Exporters Association (MPEA)
Thai Frozen Food Association (TFFA)
Brunei Darussalam Aquaculture Producers Alliance Cooperative (BAPA)
Bangladesh Frozen Foods Exporters Association
Seafood Exporters Association of India (SEAI)
Seafood export Ecuador (INEPACA)

2000
2000
2004

1984
1953
1949

Table 3: The competitors of VASEP in international market

b) VASEP has to provide the price have a little bit difference compare with other suppliers
because it has several huge direct competitors such as Thailand, India, etc. It means that if
VASEP sets high price, customers will chose alternative products. Oppositely, with low
price, VASEP cannot ensure about making profit.

The shrimp price in Japan market
80.75 ¥/USD, the frozen shrimp, 07/07/2012. The price of Japanese companies, USD/block
Penaeus monodon HLSO (1.8kg/block)
Origin
Vietnam
India
Indonesia
Size
Low
High
Low
High
Low
High
(quantity/pound)
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price

price
2

price

price

price

price
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8-12
13-15
16-20
21-25
26-30

36.86
28.87
22.73
21.50
-

37.47
29.48
23.34
21.50
-

29.48
20.88
19.41
19.66

29.48
21.50
19.66
19.66

36.86
28.87
24.57
21.50
20.88

37.47
29.48
25.18
22.11
21.25

Table 4: The shrimp price in Japan market of VASEP

(VASEP, 2012)
Average price of frozen pangasius fillet, US$/pound, FOB
Price
Change (%)
Jan 2011
Dec 2010
Jan 2010
Jan 2011 vs

Origins

Cambodia
China
Thailand
Vietnam

2.160
4.546
3.342

2.375
4.604
2.934
3.224

3.243
4.243
3.049
3.114

Dec 2010
-9
-1
+4

Jan 2011 vs
Jan 2010
-100
+7
+7

Table 5: The average price of frozen pangasius fillet between VASEP's competitors

(Pangafish, 2012)
c) The sizes of foreign customers are very large so their demand is high so if VASEP cannot
ensure the amount of products it will lose the customers. Total Vietnam seafood exports
estimate 1.2 million tons(Taichinh, 2012)
Pangasius fillet (ton)
172,000

Volume

Tiger black shrimp (ton)
198,000

Table 6: The volume of pangasius fillet and tiger black shrimp in 2011

(Globefish, 2011)
d) The main seafood exporting products are pangasius, shrimp, tuna, mollusks, bivalve
mollusk, crustaceans, marine fish, cephalopod, fishmeal, and others.
e) There are many customers of VASEP. They are:


Seafood Importers Association of Australasia Inc. (SIAA)



Scottish Seafood Association (SSA)



Japan Fish Traders Association

In general, VASEP has the different activities in the different market to run business
effectively. Based on the particular market conditions, VASEP set the reasonable price and
the right output to satisfy specific customers.

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Outcome 3.2: Illustrate the way in which market forces shape organizational responses
using a range of examples
The international market
Oppose to the Vietnam market, VASEP has many rivals in the world market. Therefore, the
competitive forces are very different.
Threat of new entrants: low
Based on the competitors of VASEP there are several new entrant in producing and exporting
seafood industry. However they are very young and do not have less experience compare
with VASEP. Besides, VASEP has stable suppliers to ensure the source of materials for
producing. Additionally, there are many loyal customers of VASEP around the world so these
new entrants will meet several troubles.
Threat of substitutes: high
The development of other food industries:




Fruits
Vegetables
Roots and tubers






Pulses
Nuts and oil seeds
Oils and fats
Sugar and honey

Table 7: The substitutes of seafood

(Rstb.royalsocietypublishing, n.d.)
There are many alternative choices for customers so it can bring a huge impact on the
activities of VASEP. For example, if seafood price has any fluctuations, the customers would
choose other kinds of foods instead of purchasing seafood.

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Figure 1: Food and consumption trends and drives

(Rstb.royalsocietypublishing, n.d.)
Customer’s power: high
Based on the customers in the customers who are named below, there are several customers
so if they do not purchase the VASEP’ products, VASEP can have loss and do not sell the
seafood. These bring the negative impacts on running business of VASEP. For example, the
seafood will be kept in the stocks for the long time and it can lease the toxic smell if the date
is not still valid.
Suppliers’ power: low
Raw material:


An Giang fishery association



Aquaculture Stewardship Council



Dong Thap seafood association



Can Tho seafood association



Dong Thap seafood association

(TalkVietnam, 2012)
There are many partners who supply raw materials for VASEP to produce. As the result,
VASEP can have a lot of choices to have the best materials to ensure the quality of seafood to
meet the demand of not only local market but also the international market. Besides, VASEP
can receive the reasonable price and can make more profit.

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Intensity of competition: high
Now the markets are witnessing the intense competition about the quality of the products.
There are many requirements in the international buyers about the quality. For example,
Japan established the policy about levels of antibiotics in seafood products especially shrimps
namely tiger black shrimp.
Ways of competing
The marketing philosophy: VASEP uses marketing concept to find out what the customers
need and want and after that it could bring the reasonable strategies to satisfy the customers
and ensure the profit. There are four main factors that make marketing become more
efficient. They are: targeting market, the demand of customers, marketing mix and the
profitability.
Marketing segmentation:
Existing products
 USA

Existing markets

New markets



Japan



EU




China
Russia



ASEAN



Taiwan

Table 8: The marketing segment of VASEP

Marketing mix:


Product:

Core product: seafood like pangasius, shrimp, tuna…
Augmented product: delivery on time, warranty about the quality
Product class: frozen seafood
Product form: various like pangasius, shrimp, tuna, mollusks, bivalve mollusk,
crustaceans, marine fish, cephalopod, fishmeal, etc.



Place:
Make products always available at big markets like USA, EU, and Japan…
Building the warehouses or stocks near raw material and processing areas



Promotion:

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VASEP joined Seafex-Dubai-2012 – seafood exhibitions
Advertising through foreign business newspapers, magazines or through TV, radio
Send direct mails to customers to introduce products
Sale forces go to customers


Price:

Make product prices become competitive.
Discount
Offer a period of non-interest credit

Competitive strategies:


Cost leadership strategy: make the producer costs lower by stabilizing the raw
material for producing.



Differentiation strategy: invest more to improve the farming technology to make
Vietnam products have special taste.



Focus on customers like Japan, EU, USA

Overall, by applying the reasonable strategies and have a suitable marketing for particular
markets, VASEP can increase the sale revenue and the market share in the international
market to take advantages of competing with other associations.
Outcome 3.3: Judge how the business and cultural environments shape the behavior of
a selected organization
Predatory pricing: yes
When VASEP exports the pangasius fillet into USA markets, most of its members had set
lower price than the standard price in USA. By doing this, VASEP could attract more
customers quickly and took more advantages than other USA companies. However, Vietnam
pangasius fillet had been sued in 2002 by Catfish Farmers of America because this
association considered that Vietnam products price less from $0.008 to $1/pound than similar

USA products (VASEP, 2002). Actually, Vietnam had loose this suit and pangasius fillet is
stretched anti-dumping taxes. This brought many negative impacts on Vietnam products.
There are many reasons to explain for this activity of VASEP’s members. One of them is
these members do not know and understand the laws of USA market so they also do not
comprehend obviously the importance of these requirements. Furthermore, Vietnam is
development country. It means Vietnam companies though this price was reasonable and
decided to use it.
Collusion: yes
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There are many associations in ASEAN which produce and export seafood so there are
several competitors of VASEP. This is the reason for establishing the ASEAN Seafood
Federation (ASF) to bring the agreement between businesses to ensure they do not compete
with each other in outside markets. More than ever, ASF should play the key role in
coordination its member efforts to overcome the increasingly blatant protectionism (Vietfish,
2012). By joining this association, VASEP and other ASEAN seafood associations can
support each other and cut down the competition between business to have good price and
high market share in the international market.
Carter: yes
One of roles of ASF is all member has agreed on prices of their products like pangasius fillet
from $2.9to $3.5 per 1 kg or $25 to $29 per 1 kg penaeus monodon. By following this
agreement, all seafood associations in ASEAN including VASEP can make sure increase
profit and reduce the competition between them. There are many advantages for the
development of VASEP in not only local market but also in international market. Because of
these cartels, VASEP could achieve the objective – earning 2.2 billion USD in 2012 (VASEP,

2012). This is very good for running business of VASEP.
In general, most of VASEP’s behaviors are very good excepting dumping. However, dumping
is only the lack of understanding of Vietnam companies – VASEP’s members. All these
behaviors help VASEP exist in the difficult competitions of the international market.
Outcome 4.1: Discuss the significance of international trade to UK business
organizations
VASEP has become a UK business and this also brings many benefits to not only VASEP but
also the development of Vietnam economy. There are some reasons to explain the important
of international trade in the whole economy today.
First of all, the international trade helps VASEP cut down the dependence on local market.
For example, Vietnam economy has fluctuated for the last few years with high inflation rate,
interest rate…It makes the customers limit on expenditure so these have negative influence to
VASEP. However, by selling to the foreign buyers, VASEP can turn over the difficulty of the
effects of local market. Moreover, there are numerous customers on the outside markets, it
helps VASEP actively produce. Besides, the life cycle of seafood products is extended and the
international trade also gives VASEP the opportunities to stabilize the seasonal market
fluctuations.
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Based on the ‘Table 6: The volume of pangasius fillet and tiger black shrimp in 2011’ in
outcome 3.1 and other data which is collected from VASEP’s resources about its volume in
2012, I think VASEP should focus more on pangasius, produce only it and do not create any
more tiger black shrimp. By doing this, VASEP will use the resources like labours,
materials…effectively; therefore it can make more profit and expand the business’s scope.
Besides, VASEP can receive many orders from many different customers and increase the

market share. It can be assumed that the volume of exporting pangasius fillet can increase
30% in 2013.
2011
2012
Increase/Decrease
30% increase in 2013

Pangasius fillet (ton)
172,000
380,000
208,000
494,000

Tiger black shrimp (ton)
198,000
270,000
72,000
0

Table 9: The yield of pangasius fillet and tiger black shrimp in 2011 and 2012

(Globefish; 2011, 2012)
VASEP has comparative advantage so it can increase the revenue in the international market.
Moreover, when VASEP joins the international market, it can have more customers.
Therefore, VASEP would produce more to supply the demands and it can get the economies
of scale. It means that VASEP has more customers and use all the resources like labours,
material, machines… more effectively. For example, the productivity of a worker will
increase to ensure the output goes up. As the result, the unit cost for a unit product can be
reduced and VASEP can cut down the price to have more advantages than its competitors.
The chart above will show the relationship between output and the average cost when a

business get economies of scale.
It can be seen clearly that when VASEP has
economies of scale, it can reduce the average cost
and increase the output (from C1 to C2). This will
bring more benefits for VASEP and cut down the
waste of resources.

Figure 2: The economies of scale

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Outcome 4.2: Analyse the impact of global factors on UK business organisations
4.2.1. The political factor
Elizabeth II has reigned for 60 years in UK and the political of UK changes rapidly. As the
result, it makes the foreign companies outside UK like VASEP could predict the future of the
UK economy. Besides, one stable politic can create a favourable business environment for the
development of companies and associations.
4.2.2. The economical
The UK economy grew by 0.5% in the first three months of the year; official figures have
shown, reducing the risk of a double-dip recession. (BBC, 2011). This shows the
opportunities for businesses and VASEP is no exception. The growth of economy brings
many benefits to the people and they can use more money for expenditure and. Thus, VASEP
can sell more products and get more profit.

4.2.3. The social factors

According to the Office of nation statistic, the 2011 Census finds the population of England
and wales has reached 56.1 million, up by 3.7 million or 7.1% from the 52.4 million in the
2001 Census (Woodridge, 2012). The population increases, it means that the demand about
food also go up and seafood products of VASEP can be purchase more. This can help VASEP
increase sale revenue and productivity.
4.2.4. The technological factors
To help Vietnam farmers improve the quality of seafood products, some companies of UK
transfer a number of IT technologies in order to create supply chain of safe seafood (Vietfish,
2007). By applying the new technologies, VASEP can bring many high quality products for
not only UK market but also various markets. Besides, VASEP also attract more new
customers and satisfy the existing buyers. The market share of VASEP can be increased and
bring more profit.
4.2.5. The environmental factors
Environment has become a global issue so UK has some policies about this problem. For
example, as a responsible and caring company, Direct Seafoods will work within the
Directive 94/62/EC on packaging and packaging waste (BBC, 2011). This means that VASEP
has to prepare carefully about packaging to follow these requirements. If not, the seafood
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products of VASEP can be recalled easily and it will affect the reputation of VASEP in the
world market.
4.2.6. The legal factors
The legal factors are very important. It directly affects the running business of VASEP in UK.
One of these factors is contract law. Directive 2004/18/EC on the coordination of producers
for the award of public works contracts, public supply contract and service contracts and in

particular the principle of free movement of goods, freedom of establishment and freedom to
provide services (ETC, 2012). This policy regulates the requirements about contracting.
Contracting is a significant step in order to co-operate with other associations. If do not
follow these requirements, VASEP cannot have the partners to work with in UK market.
Outcome 4.3: Evaluate the impact of policies of the European Union on UK business
organizations
4.3.1. Monetary system (EMS)
European monetary system was set up to establish the greater monetary stability in European
Union. To implement it, the European Council adopted and drafted a Regulation 640/2006
that relating to EMS. It requires about the exchange rate between members of EU and other
countries to ensure the profit and limit the fluctuation. This is the main reason for creating the
Exchange Rate Mechanism. The legal basis for ERM II is the Treaty on the European Union,
particularly its articles 138 and 140, and the Decision of the European Council of June 16,
1997. Therefore, the exchange rate between VND and pound has to follow the requirement
and it affects directly to VASEP’s members. For example, the exchange rate decrease will
make VASEP export easier.
4.3.2. Common agricultural policy
This system has the regulations to ensure the outside Eurozone products not bring the virus or
parasitic which can harm the plants and animals that are farmed in EU. For example,
Regulation (EU) No 28/2012 dated 11.1.2012 amending Decision 2007/275/EC and
Regulation (EC) No. 1162/2009 certification requirements for certain products processed
synthetic from animals and plants (composite products) are imported into or transit through
EU. It means that VASEP has to make sure about the products whether they follow the laws.
If not, VASEP products can be recalled easily and it will bring negative impacts on VASEP’s
reputation in the world market, especially EU.
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4.3.3. The social welfare
These purposes of the social welfare are improving the living and working conditions, social
securities, treating equal between women and men and health protection and safety at
workplace…for the workers. For example, Communication from the Commission to the other
institutions concerning the conversion into euros of the amounts provided for in the Staff
Regulations No 1999/C 60/09. It regulates about the salaries that employees have to be paid.
These presents that VASEP’s employees when working in EU will be paid equal and receive
benefits like other EU workers.
4.3.4. Regional policy
EU consists of many members so EU brings a lot of regulations to promote an overall
harmonious development and strengthen economic and social cohesion by reducing
development disparities between the regions. Regional Development Fund (Regulation of the
European Parliament and of the Council (EC) 1261/1999), co-financing measures aiming at
decreasing regional disparities in the Community. This policy aims to ensure the development
of difference areas in EU about farming fish and other material for producing seafood.
Therefore, VASEP also meets some difficulty in selling seafood products in these regions. It
means VASEP should focuses more on potential markets in EU like German, French…
Conclusion
VASEP brings the suitable decisions to develop in the difference markets especially local
market and international market. This is not only makes good profit but also help Vietnam
economy develop. Furthermore, VASEP is now likely to focus on trading in international
market. To implement these, VASEP needs to improve its ability like resources, labors,
policies…

Reference
affairs, E. a. (n.d.). What is ERM II? Retrieved 12 25, 2012, from Economic and financial
affairs: />BE A2 2012-2013 HVNH

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BBC. (2011, 04 27). UK economy grows by 0.5% in first quarter of 2011. Retrieved 12 25,
2012, from News Business: />directseafoods. (n.d.). Environmental policy. Retrieved 12 23, 2012, from directseafoods:
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BE A2 2012-2013 HVNH

13

Red

BE A2 2012-2013 HVNH

14

Red