Limited-time discount for students! | Solutions starting at $6 each

Diploma in Business - Assignment

Added on - 03 Aug 2021

  • 44

    Pages

  • 12154

    Words

  • 89

    Views

  • 0

    Downloads

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 8 of 44 pages


ASSIGNMENT 1 FRONT SHEET
QualificationBTEC Level 4 HND Diploma in Business
Unit number and titleUnit 32: Business Strategy (574)
Submission dateJune, 5th 2021Date received (1stsubmission)
Re-submissiondateDate received (2ndsubmission)
Student nameNGO HOANG ANHStudent IDGBH190038
ClassGBH0904Assessor nameDO THACH ANH
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism.I understand
that making a false declaration is a form of malpractice.
Student’s signature:
Anh
Grading grid
P1P3M1M3
Page |1
SummativeFeedbacks:ResubmissionFeedbacks:
Grade:Assessor Signature:Date:InternalVerifier’sComments:
Signature &Date:
Page |2
Table of Contents
Introduction.................................................................................................................................................4
I.Determine the strategic context of Binh Minh Plastic Joint Stock Company...................................5
II.Implement a macro environmental audit for Binh Minh Plastic Joint Stock Company by using the
PESTLE framework...................................................................................................................................8
1.Political factors............................................................................................................................8
2.Economic factors.......................................................................................................................10
3.Social factors..............................................................................................................................15
4.Technology factors.....................................................................................................................16
5.Legal factors...............................................................................................................................17
6.Environment factors..................................................................................................................19
7.Comments on the importance of macro environmental analysis for the strategic development
of your chosen company...................................................................................................................20
III.Carry out the industry/sector audit forBinh Minh Plastic Joint Stock Companyby using Porter’s
5 force model........................................................................................................................................21
1.Threat of Substitutes.................................................................................................................22
2.Bargaining Power of Buyers.......................................................................................................23
3.Bargaining Power of Suppliers...................................................................................................24
4.Rivalry Among Existing Competitors..........................................................................................27
5.Threats of New Entrance...........................................................................................................30
6.The critical success factors for a company in the Plastic market...............................................31
IV.Carry out a specific stakeholder analysis and devise a stakeholder mapping for Binh Minh
Plastic Joint Stock Company..................................................................................................................33
1.Stakeholder analysis..................................................................................................................33
2.Stakeholder mapping.................................................................................................................36
V.Identify and analyze the main opportunities and threats that Binh Minh Plastic Joint Stock
Company is currently facing..................................................................................................................37
1.Opportunities.............................................................................................................................37
2.Threats.......................................................................................................................................38
Conclusion.................................................................................................................................................39
Bibliography...............................................................................................................................................40
Page |3
Introduction
Businesses that want to thrive in today's market must have a solid business strategy in place.
Business strategy is regarded as the key to operating a business in order to achieve specific
goals, plans, and success.With extensive experience in analysis and strategic planning for
companies in a wide range of industries, this report presents the findings of a comprehensive
audit ofBinh Minh PlasticJoint Stock Company(BMP),which is leading and reputable
manufacturing and trading enterprise in Vietnam for plastic pipe products and plastic pipe
accessories of all kinds serving the water supply and drainage industry, post and
telecommunications, electricity, industrial and civil construction. use. The main content
includesan assessment of the internal and external environments. The report will also make
recommendations on the strategy that businesses should pursue in the future based on these
analyses.External analysis, Internal analysis, andStrategic planning and evaluationare the
three main sections in which the data and related information are presented.
Page |4
I.Determine the strategic context of Binh Minh Plastic Joint Stock
Company
Visson:Maintain the position of the leading enterprise in Vietnam's plastic building
materials industry. Actively build capacity so that you can compete in the region and
internationally.
Mission:Provide products and services to meet the market's growing demand. Ensure that
the interests of customers, employees, shareholders, and society are all aligned.
Objectives:
Sustainable development objectives:
For production and businessFor the environment
Strengthen measures to save energy, save
water and treat wastewater.
Improve production processes, install
modern equipment to increase productivity,
save raw materials and reduce environmental
pollution.
Adhere to business ethics rules.
Anti-counterfeiting, counterfeit goods.
Apply the latest standard environmental
management system.
Fully comply with the provisions of law and
other requirements on the environment.
Building an environmental monitoring and
managementsystem,monitoringand
assessing the impact on the environment.
Identify and assess the risks of environmental
pollution to take measures to control and
reduce pollution, and apply waste separation
at source.
Build teams and processes that are ready to
respond to emergency situations.
For employeesFor the community
Page |5
Evaluate the working environment every year
to take measures timely improvements.
Maintain and improve the quality of health
care activities health and life for workers.
Send employees to attend training courses in
and abroad to improve expertise to meet the
needs of development needs of the
Company.
Raise employees' awareness about saving
reduceenergyandpreservethe
environment.
Actively participate in community activities to
build a friendly and environmentally
responsible corporate image.
Maintaining regular charity activities such as
blood donation, taking care of Vietnamese
heroic mothers, martyrs' parents, seriously
wounded soldiers, donating salary days for the
fund to support difficulties...
Raise employees' awareness of humanitarian
and charity activities.
Key objectives of the company by 2025:
Consumption output: 137,000 tons.
Market share: accounted for 30% of the market share in Vietnam.
Deploying 5S management model for all employees and departments parts at 100%.
Deploying 3 automation systems at factories.
Implement employee competency management system to apply training programs,
capacity building training and career development for 100% of employees.
Implement periodic employee satisfaction surveys in BMP's working environment:
95% satisfaction.
(BMPlasco, 2020).
Page |6
A business strategyis a set of business decisions and actions that direct an organization's
resources in response to external opportunities and threats. Depending on the
characteristics and business period of each business, different business strategies will define
different goals. To begin, it must be stated that all production and business activities must
be directed toward specific goals. That goal will be the primary motivator for businesses to
take action in order to achieve it; often, businesses in production and business activities
have the same goals of entering the market and increasing profits, market share growth,
and so on. As a result, having clear goals based on an assessment of the company's internal
and external markets is the most important factor when conducting business activities. The
second role of a business strategy is to coordinate all resources aimed at achieving a specific
business goal. The business strategy will capitalize on competitive advantages derived from
the coordination of organizational and enterprise resources, including various functional
departments such as the organization department, administrative department, finance
department, and department of human resources, material planning, marketing
department,... .The third function of a business strategy is to devise a method of acting that
is more realistic and effective. All production and business activities will be closely linked to
the company's current situation. Managers understand which competitive advantages will
be exploited and which opportunities will be capitalized on.
BMPhas established specific business strategy for the entire company to coordinate and
implement in the past and even in the future. In particular, the Company has established
specific business strategies such as affirming the company's capacity and leading position in
the Vietnamese market, orienting to combine with other companies in the group, and
maintaining its leading position in terms of market share in the ASEAN region. BMP also
assigns the responsibility of establishing an average growth target that is not less than the
market's overall growth. To form the supply chain comprehensive application in corporate
governance, the company has used advanced management models and tools such as LEAN,
5S, in conjunction with the investment and application of modern technology, a high degree
of automation in production, and a high degree of automation in production(BMPlasco,
2018). In specific, the company focuses on creating an internally friendly and safe working
Page |7
environment, as well as prioritizing employee benefits, so that the company can be included
in the top 50 best places to work in Vietnam.BMP has launched a lot of development
strategies on Human Resource in the past year. The company always evaluates the working
environment every year to take timely improvement measures. The strategy of maintaining
and improving the quality of health and life for employees of BMP includes many regimes
and policies. The company also implemented 5S activities, established an additional SHE
department to supervise, organize monthly and quarterly inspection and assessment on
occupational safety and health.In addition, there are professional training strategies, the
Covid-19 pandemic leave regime with salary and gender equality strategies.With the
successes achieved thanks to specific and reasonable business strategies over the years,
BMP continues to offer strategies for the period 2021-2025 as follows:
Become the leading company in the market share of consumption volume in Vietnam
and is in the TOP 3 leading companies in terms of market share in Southeast Asia.
Success in perfect operation of the entire supply chain through the application of 5S
management model, economical and lean production, applying automation with
modern technology.
Maintain the position of TOP 50 companies with the happiest workplace Vietnam.
(BMPlasco, 2020).
II.Implement a macro environmental audit for Binh Minh Plastic Joint Stock
Company by using the PESTLE framework.
1.Political factors
Government stability:Vietnam is regarded as one of the countries with an appealing
and promising business environment. Vietnam will create and consolidate countries'
confidence in their policy mechanisms by providing a stable political backdrop, a
comprehensive legal system, a dynamic economic development environment,
international integration, and acceptance of international laws and rules.This is a
Page |8
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document