La vuthuyduong sum

Objectives of the study With the research topic "Applying the Balance Scorecard to evaluate the performance in Vietnamese garment enterprises", the author identified the research object

INTRODUCTION

1 Reason for selecting the topic

Improving performance is always a strategic issue for any business operating in

the market economy, as it is an important basis for the survival and development of the

business Improving performance enables enterprises to perform well the reproduction

process and generate revenue to contribute to the state budget

In order to achieve high performance, garment enterprises should evaluate their

performance and find out the reasons for their effectiveness in order to have reasonable

solutions by analyzing the performance

In models of appreciation of performance, the Balanced Scorecard (BSC) model is

widely appreciated by many researchers as well as by many businesses

As the economy is opening up, garment enterprises have many opportunities but

also many challenges In order to enhance the competitiveness of the market, garment

enterprises must not only formulate financial strategies but also include non-financial

strategies

For this reason, I chose the subject: "Applying the Balanced Scorecard to evaluate

performance in Vietnamese enterprises" as his PhD thesis

2 Objectives of the study

With the research topic "Applying the Balance Scorecard to evaluate the

performance in Vietnamese garment enterprises", the author identified the research

objectives:

- General objective: Applying the Balanced Scorecard to assess performance in line with

Vietnamese garment enterprises

- Detail objective:

+ Clarify the role of the Balanced Scorecard in assessing the performance of the

business

+ Evaluate the status of using the balanced scorecard to evaluate the performance

of the garment enterprises in Vietnam

+ Applying the Balanced scorecard to evaluate the performance suitable for

Vietnamese garment enterprises

3 Research questions

In order to achieve its research objectives, the author raises the following research

questions:

(1) What is the role of balanced scorecard in assessing performance in Vietnamese garment enterprises?

(2) How do you use the Balanced Scorecard to evaluate performance in Vietnamese garment enterprises?

(3) What is the difference between using the Balanced Scorecard to evaluate performance

in large and medium-sized garment enterprises? And there are differences between garment enterprises in different regions?

(4) How do you use the Balanced scorecard to assess performance in line with Vietnamese garment companies?

4 Scope and subjects of research

* Research scope

- In terms of space: the thesis focuses on researching Vietnamese garment enterprises To ensure representativeness, the author selects samples using the sampling method Currently, there are 4,200 garment enterprises (source: Virac) in the whole country, including large scale enterprises and small and medium sized enterprises from the North to the South

- In terms of time: survey and data collection over the last 3 years (from 2013 to 2015)

* Research subjects

- The status of using Balanced Scorecard in Vietnamese garment enterprises

- Mission, strategic vision of Vietnamese garment enterprises

- Performance indicators system at Vietnamese garment enterprises

5 Methodology of the thesis

For the study, the author used both quantitative and qualitative research methods

- Qualitative research methods

- Quantitative research methods

According to previous studies, Hoque& Wendy (2000) or Ping, (2006) have confirmed that the size of the business will affect BSC Therefore, in their own study, the researcher applying BSC in large-scale garment enterprises and small and medium-sized garment enterprises

6 Contribution of the thesis

New contributions in academics, reasoning

The dissertation clarifies the theoretical basis for the application of the Balanced

Scorecard (BSC) to assess performance in enterprises Specifically:

The dissertation clarifies the rationale for performance as expressed by the value

created by the business from what the firm has invested This value includes both

financial value and non-financial value Therefore, to evaluate the performance of

enterprises, it is necessary to use financial and non-financial indicators

The thesis clarifies the role of the Balanced Scorecard in evaluating the

performance of the business with the indicator system associated with the development

strategy of the enterprise

The results of the thesis also show that the size of the enterprise will lead to the

application of the Balanced scorecard to evaluate the performance is different

In practical terms, the thesis proposes Balanced Scorecard to evaluate performance

in Vietnamese garment enterprises by 2 scales: large enterprises, medium and small

enterprises

For Vietnamese garment enterprises, BSC has applied four perspective: Finance,

Customer, Business Process, Learning and Growth In the Balanced scorecard uses the

evaluation of performance for Vietnamese enterprises The author has verified more

modern financial indicators: EVA, MVA, selected On the other hand, the characteristics

of Vietnam's garment industry are dependent on many suppliers, so the Supplier factor is

through the criteria: "Supplier's proportion request response", "Supplier's time ratio

delivery of goods on time, "" Percentage of suppliers who are regular suppliers to

enterprises "is selected by managers in the Balanced Scorecard to evaluate the

performance This is also a new point in the author's research

New proposals drawn from research results

Based on the research results of the thesis, the author has made suggestions to

improve the efficiency of using the Balanced Scorecard to evaluate the performance of

Vietnamese enterprises Specifically:

The thesis proposes Balanced Scorecards for large-scale garment enterprises and

medium- and small-sized garment enterprises that derive from their development

strategies

The dissertation proposes solutions for Vietnamese garment enterprises so that

they can apply the Balanced Scorecard to evaluate their performance (1) The garment

enterprises should develop a development strategy in line with the development strategy

the industry and the mission of the business(2) Business organizations need to be built

and improved; (3) improve the ability of enterprises to respond to changes in the market;

(4) Focus on improving the factors that influence the successful application of the BSC;

(5) It is necessary to widely disseminate knowledge about BSC in enterprises; (6)

Monitoring and evaluating the application of BSC in the evaluation of the performance; (7) Attention should be paid to the maintenance of BSC in enterprises

The State should have policies to support and encourage Vietnamese enterprises in general and Vietnamese garment enterprises in particular to apply BSC in the assessment

of performance

7 Structural thesis

The author presents the thesis in five chapters:

Chapter 1: Overview of research Chapter 2: Theoretical Basis of Using the Balanced Scorecard to Evaluate Performance in Manufacturing Firms

Chapter 3: Research Methods Chapter 4: Results of research using the Balanced scorecard to evaluate performance in Vietnamese garment enterprises

Chapter 5: Discussion and recommendations on the use of the Balanced Scorecard

to evaluate performance in Vietnamese garment enterprises

Chapter 1 OVERVIEW OF RESEARCH 1.1 Studies on the use of Balanced Scorecards - BSC for performance evaluation

In the early 1990's, Kaplan & Norton introduced Balanced Scorecard - BSC as an integrated device that facilitates the formal use of non-financial information in evaluating the effectiveness of business units ( Kaplan, R and Norton, D 1992)

Kaplan & Norton's book "The Balanced Scorecard: Translating Strategy into Action" published by the Harvard University Press in 1996 The authors propose the development of a Balanced Scorecard rating system that includes Financial and non-financial indicators are linked in a causal relation to the strategic implications of specific performance goals in terms of: Finance, Customer, Business Process, Learning and Growth

In the article "Transforming the Balanced Scorecard from Performance Measurement to Strategic Management" published in Accounting Horizons, No 15,

2001, and "The Balanced Scorecard, Measures that Drive Performance," in the Harvard Business Review, In 1992, by Kaplan & Norton, the authors proposed using a performance rating system that includes financial and non-financial indicators that strongly influence the successful implementation of a business strategy are linked together in a causal relationship BSC

The book “The development of the Balanced Scorecard as a strategic management

tool” by Cobbold & Lawrie, 2002, describes the development process of the BSC

The article "Measurement of corporate performance through a balanced

scorecard: an overview" by Ghosh and Mukherjee University lecturer Vidyasagar

published in the journal Vidyasagar University Journal of Commerce No 11 (2006),

analyzes the advantages of using the Balanced Scorecard to evaluate business

performance

Apply BSC in nonprofit organizations

For nonprofit organizations, there are many researches that using BSC as: (1)

Research using BSC in US and Canadian government by Lilian Chan,(2004) at Mc

Master University, Hamilton, Canada published in The International Journal of Public

Sector Management; (2) Research using BSC in Italian and Australian governments by

Farneti (2008), University of Bologna, Guthrie of the University of Sydney, Australia,

published in the Journal of Human Resource Costing & Accounting; (3) A

comprehensive study of the using BSC in Greiling from the Institute of Management

Accounting and Kepler of the University of Linz, Austria These studies show that BSC

is ineffective in non-profit social service organizations as the characteristics of strategic,

causal linkages, and four perspectives do not match the special environment of the groups

social services This statement was confirmed in the latest study by Kong, University of

Queensland, Australia (2010), after analyzing the authors' research related to the use of

BSC in nurseries non-profit social services

Apply BSC in profit organizations (business enterprises)

In Hoed & Wendy, (2000), the authors investigated the effect of scale on the

application of BSC in the evaluation of the performance We conducted a survey of 66

manufacturing companies in Australia The size of the organization is measured by the

team through three measures: Total sales, Total assets, Number of employees

Quantitative research results show that the larger the scale, the greater the degree of BSC

adoption

Another study on the ability of BSC to implement strategy and business

management in Hong Kong companies “Perception and Applicability of the Balanced

Scorecard in Hong Kong Organizations” by Ping (2006) The author conducted a survey

of 50 companies on the Hong Kong Stock Exchange in various business areas The

objective of the study was to analyze the differences between companies using BSC and

BSC unused companies

Apply BSC in large scale production and business enterprises

New Zealand also has many researches on the ability of BSC application in

enterprises Typically, the study by Blundell & etc “The Adoption and Use of the

Balanced Scorecard in New Zealand: A Survey of the Top Companies”, 2003, Pacific

Accounting Review The authors conducted a survey of 40 leading companies on the

New Zealand stock market The results show that these companies commonly use BSC with four perspectives of the model However, the "Financial perspective” is still used the most

In 2005, Evan of Teeside Business School, University of Teedide, Middlesbrough,

UK conducted a study on the ability to use BSC as a management tool in the hotel sector

in the UK Authors used questionnaires for interviews The hotel is a medium-sized, high-end, 3-star hotel in North East England, with 30 to 200 rooms The results of the study on the use of BSC in hotels with 30 to 200 rooms in the UK show that most hotels are very interested in measuring daily or weekly sales, and compare actual costs with planned costs by week or by month

In 2008, Jusoh conducted a study on the application of BSC and their effectiveness

in evaluating the performance of Malaysian firms Research results show that less than 30% of companies surveyed used part or all of the BSC Many Malaysian manufacturing companies still focus more on financial indicators than non-financial indicators Balanced Scorecard is also highly regarded as a role in strategic management in leading companies in India This was confirmed by the authors in the "Balanced Scorecard in Indian Companies" study, Anand et al., 2005 The authors conducted a survey of 579 leading companies India in various business sectors According to survey results, the authors divide the business group into two groups: manufacturing and service business The results show that companies use the full 4 perspectives of the BSC Another study on the use BSC in the evaluation of performance was piloted at a

multi-national company in Bangladesh by Halabi et al., "Perceptions of Firms Learning and Growth under Knowledge Management approach with Linkage to Balanced Scorecard (BSC): Evidence from a Multinational Correlation of Bangladesh ",

International Journal of Business and Management, Issue 9, 2009 The authors conducted

a survey with semi structured questionnaire about BSC application in the multinational company in Bangladesh The results show that the Learning and Growth Perspectve is more focused

Another study in large-scale enterprises in Bangladesh, “Empirical Study of the underlying Theoretical Hypotheses in the Banlanced Scorecard model: further evidence from Bangladesh”, Halabi, et al., Asia Pacific Management Accounting Journal, 2010

The study authors use BSC in leading manufacturing and service enterprises based in Bangladesh This study was conducted by collecting primary and secondary information The structured questionnaire was sent to the top 150 companies in Bangladesh The results show that the correlation between the perspectives of BSC

Applying BSC in medium and small scale manufacturing enterprises

A study on the application BSC in small and medium enterprises, Conducted a

study entitled “Lingking Balanced Scorecard Measures to SME’s Business Strategy: Addressing the Moderating Role of Financial Resources”, International Joural of

Research, 2015 The authors have confirmed the role of BSC in strategic management for

small and medium enterprises

Another study on the use of BSC in small and medium enterprises was studied in

the UK and Cyprus, “The use of the Balanced Scorecard in Small Companies”,

Giannopoulos, et al., Inernational Journal of Business and Management, 2013 Authors

conducted a survey of 500 small and medium enterprises in the UK and Cyprus

Questionnaires are mostly closed questions that are addressed to managers of these

businesses The questions revolve around the use of BSC in these operations The results

show that small- and medium-sized enterprises are highly appreciative of the role of BSC

in the review of Korean equities despite the fact that BSC has only been used in recent

years

In 2013, there will also be a study on the application BSC in small and medium

enterprises “ Application of Strategic Performance Measures in Small and Medium –

Sized Manufacturing Enterprises in Kenya: The use of the Balanced Scorecard

perspectives”, Chimwani, et al., International Journal of Management Sciences and

Business Research, 2013 This study aims to determine the application BSC in the

assessment of performance in small and medium enterprises in Kenya

Applying the Balanced Scorecard to garment enterprises

"A Study of Business Performance through Key Performance Indicators (KPIs) in

Thai Garment Industry," Suanmali, et al., 2009, The 5th International Congress on

Logistics and SCM Sysems In this article the authors discuss the establishment of Key

Performance Indicators (KPIs) for the measurement of corporate social responsibility in

Thai garment companies.,

“Proposal of a performance model based on The balanced scorecard for the

Moroccan textile industry”, Chriyha, et al., 2012 In this study, the authors conducted a

discussion to find out the indicators in 4 perspectives of the BSC for the textile industry

in Morocco

“Managing Through Strategic Performance Management in Apparel Companies”

by Karabay & Kurumer, 2012, Fibers & Textiles in Eastern Europe 2012, proposed the

BSC based on the strategy of the Turkish textile industry However, the authors also

suggest that the proposed balanced scorecard does not apply to all companies The

purpose of this study is to provide a starting point for the establishment of an effective

management system that will help companies to implement the strategy in a new

competitive environment

“Key Success Factors for Organizational Innovation in the Fashion Industry ",

Felice & Petrillo, 6/2013, International Journal of Engineering Business Management

Results of the study, the authors have introduced the system of evaluation performance

for the fashion industry in Italy

"A Consolidated Model of Putting BSC into Action in Textile Industry in Pakistan", Maqbool (2015) In this study, the author proposed that performance evaluation model with six views instead of the four typical views of Kaplan and Norton:

Financial - Customer - Supply Chain and Market - Sustainability – Learning & Growth

1.2 National studies on the use of the Balanced Scorecard to evaluate performance

"Using Balanced Scorecard in Vietnamese Service Enterprises", Dang Thi Huong

(2010), Hanoi National University Journal of Science, Economics and Business Administration 26 In the study, author presented the advantages and disadvantages of BSC development in Vietnamese service enterprises

"Application the Balanced Scorecard and KPI performance measurement in employee assessment" by Bui ThiThanh (2011), Journal of Business Development 172

The author conducted a survey on 107 samples Officers and employees on the conditions

to apply the company's BSC and KPI to employee evaluation at Liksin Based on the results of the study, the authors proposed a process of applying in 6 steps (1) building BSC of the corporation, (2) implementing BSC at all levels, (3) implementing job description, ) setting evaluation criteria, (5) organizing evaluation and (6) reporting evaluation and record keeping

"Issues in the Balanced Scorecard Implementation: A Case of Vietnam", Mai

XuanThuy, Economic Development Journal 14, April / 2012, English version This research focuses on the implementation of BSC in an international accounting firm in Vietnam The author has used Kasurinen (2002) and qualitative research methods to analyze and identify barriers in the implementation of BSC

"Factors affecting the acceptability of the model of balanced scorecard in strategic management in Vietnamese enterprises", Tran Quoc Viet, (2013) PhD thesis of

National Economics University In his thesis, the author has contributed both theoretical and practical The research results will help Vietnamese enterprises, as well as consultants, make more accurate decisions on the acceptance of BSC by each Vietnamese company In addition, identifying the factors that influence the acceptability

of the BSC will help managers have effective solutions to promote the use of the Balanced Scorecard in strategic management at the Vietnamese enterprises

In 2013, Nguyen Thi Thanh Hai with his dissertation "Finalizing the indicator system for business analysis in transportation enterprises under the Ministry of Transport", the author has completed the system of only assessment criteria In her study,

the author used the BSC to improve the criteria for business performance assessment in transportation companies under the Ministry of Transport

Starting from the review, the authors found that the application of BSC in the evaluation of the performance is very important and that the application of BSC in enterprises of different sizes will be different However, in studies on the use of BSC in garment enterprises in the world, there are no studies that are separate from the enterprise scale And in particular, there are no studies in Vietnam on the use of BSC in assessing

performance in general garment enterprises That is why the author chose the subject

"Applying the Balanced Scorecard to evaluate the performance of Vietnamese

businesses" as his PhD thesis

SUMMARY OF CHAPTER 1

With Chapter 1- Overview of research, the author gave an overview of previous

researches on the application of BSC to evaluate the effectiveness of operations in the

world and in the country With studies in the world, the size of the business will influence

the application of BSC in assessing the performance of enterprises So, the author

conducts an overview of researches using BSC in large enterprises and small and medium

enterprises In addition, the study also reviewed the studies on the use of the Balanced

Scorecard to evaluate the performance from which to find the space for its study From

the results of the study, the author has selected as his research topic "Applying the

Balanced Scorecard to evaluate performance in Vietnamese garment enterprises"

Chapter 2 THEORETICAL BENEFITS OF THE BENEFITS OF THE BALANCED

SCORECARD TO EVALUATE PERFORMANCE IN MANUFACTURING

ENTERPRISES

2.1 Introduction Balanced Scorecard

2.1.1 Concept

In the early 1990s, Kaplan and Norton introduced the Balanced Scorecard as an

integrated device that facilitated the formal use of non-financial information in evaluating

the effectiveness of business units (Kaplan and Norton 1992)

BSC is a management tool that helps businesses set up, implement, monitor, and

achieve their strategies and goals through interpreting and developing strategic goals into

goals The program of action is based on four aspects: finance, customers, business

processes, learning & growth

2.1.2 The development of the Balanced Scorecard

The first generation of BSC: BSC was first introduced by Kaplan and Norton

(1992) as a set of measures that provided top managers with fast, comprehensive views of businesses with four perspectives edge of the balanced scorecard However, the causal relationship between dimensions was not thoroughly investigated at this stage

The Second BSC Generation: BSC developed from a measurement system into a

core management system This version of the BSC has incorporated causal links and results

The Third BSC Generation: The main components of the BSC in this development

phase are the target statements (DS), strategic objectives, strategic alignment, measures and initiatives ( Cobbold and Lawrie, 2002)

2.1.3 Function of the equilibrium card

- A balanced scorecard is used as a measurement system

- The balanced scorecard is used as a strategic management system

- A balanced scorecard is used as a communication tool

Human capital

Fanancial

Long-term value

of shareholders

Improve cost

structure

Increase the efficiency of asset

Increased sales opportunities

Add value to customers

Customer

Value gives the customer

Price

Quality Ava

ilabl

e

Choice Funct

ion Service

Memb

er

Trademark

Internal

Process

Operational

management

processes

Supply

Manufacturing

Distribution

Risk management

The process of customer management

Make a choice Winning the customer Keep the customer Develop customer

Process improvements

Exploit opportunitis

R & D list Design/

Development Risk management

Processes related to social regulation

Environment Health / Safety Job Community

Learning

&

Organizational capital

2.2 Outline the performance 2.2.1 Concept of performance

An economic category is an economic measure that measures the viability and sustainability of an enterprise through the value it generates The added value of the business is the added value of shareholder investments or the added value of the resources that the business spends Value can be a combination of both the financial goal and the non-financial objective With the goal of finance, the value created is the value of shareholders For non-financial goals, the value includes benefits for working conditions, working time, social interaction

According to the author, performance in today's era, as the economy grows, the social relationship is more and more complex, then the performance is the value created including the financial value and non- financial value Therefore, to assess accurately and comprehensively, the enterprise requires a system of finance and non- financial criteria Through the evaluation of performance, it is possible to evaluate the growth and development of enterprises in the market economy with many changes

2.2.2 Performance evaluation

An evaluation of the franchisor is a comparison between the result obtained and the cost spent to obtain that result Useful results can be understood including economic efficiency and social efficiency

Evaluation of performance is also understood as the measurement of enterprise's performance by means of the indicator system The study by Hult et al (2008) has examined how to measure marital problems, the authors argue that there are three criteria for measuring marital conflict: measuring financial performance, measuring business performance, measuring performance synthetic

In order to assess the effectiveness of the operation, the enterprises need a suitable indicator system, which is closely linked with the target and strategy of the enterprise However, according to the author, the most difficult problem is choosing the model of evaluation of performace in accordance with the system of indicators reflecting the comprehensive performace of enterprises and at the same time, it must be attached with the development strategy of the enterprise

2.2.3 Principles for the establishment of a performance indicator system

Some principles to keep in mind when building the indicator system for measuring performace:

- The measurement criteria of the international standard must be in line with the

development strategy of the enterprise

- The criteria of measurement of performace must be linked with the vision, values and

key success factors of enterprises

- The norms of measurement of performace must reflect the past, present and future

associated with the operation of enterprises

- The norms of measurement of performace should reflect the needs of customers,

shareholders and employees

- The norms of measurement of performace must be consistent and coherent between the

higher level and the lower level of the enterprise

- The norms of measurement of the country need to change when the business strategy of

the enterprise changes

- The norms of measurement of the performace should be reliable

- The norms of measuring performace should reflect the specific objectives of the

enterprise

- The measurement system of the international standard must include the financial criteria

and non- financial criteria

2.3 Apply a balanced scorecard to assess the performance of your business

2.3.1 Financial perspective

Most of the companies focus on revenue growth, productivity and shareholder

value

Some organizations ignore the accounting system and focus on stock prices

Market share price quotes are also often found on BSC

2.3.2 Customer perspective

The objective of the company's customers is to ensure the best service, leading the

quality of products and friendly with customers

2.3.3 Internal process perspective

Indicators in the aspect of internal procedures show the ability to manage

production and business activities; the ability to manage employees, capture customers

and ensure environmental and social factors

2.3.4 Learning & Growth perspective

Measures for training and development are divided into three categories: human

resource training, information systems, organizational resources

SUMMARY OF CHAPTER 2

In this chapter, the author presents three contents:

(1) Introduction to Balanced Scorecard with four perspective: Finance, Customer, Internal Process, Learning & Growth And these perspectives have a causal relationship Indicators in the BSC come from the corporate development strategy

(2) Overview of performance In our study, the authors of the performace research are from the perspective that the value created includes the financial value and the non-financial value

(3) Applying the Balanced Scorecard to assess corporate performance in general

In this chapter, the author presents the four perspectives of the BSC introduced by Kaplan

& Norton in his 1996 book "The balanced scorecard: Translating strategy into action." This will be a hint to help managers applying BSC in assessing the performance of your business

With the content of chapter 2, the author wants to generalize the rationale for his research topic

Chapter 3 RESEARCH METHODS

3.1 Approaches to research problems

The approach to addressing the research objectives of the topic is summarized in model:

Understand the status of using BSC to evaluate the performance in Vietnam garment

enterprises

Connect with the vision, mission and strategic goals of Vietnamese garment

enterprises

Applying the Balanced Scorecard to develop a system of

indicators to assess performance in Vietnamese garment

enterprises

Overview of research

Determining research gaps and research

objectives

Figure 3.1: Model approaching the study Applying the BSC assessment to performance

in Vietnamese garment companies

The research was carried out through the following steps:

Step 1: The author goes to study the overview of previous researches on the application

of BSC in the evaluation of performance

Step 2: Research on the status of applying BSC in Vietnamese garment enterprises Step 3: Develop research hypothesis Introduce the initial indicator system in the balanced scorecard

Step 4: Conduct in-depth interviews

Step 5: Build questionnaire Step 6: Conduct the survey Step 7: Synthesize data and analyze data

Step 8: Apply BSC to build a system of rating criteria suitable for Vietnamese enterprises

3.2 Qualitative research methodology and quantitative research methods 3.2.1 Qualitative research methods

With the qualitative research method, the author conducted semi-structured and unstructured interviews, and then conducted a pilot study

• Interview questionnaire

In the In-Depth Questionnaire, the author uses semi-structured and unstructured questions

• Experimental research

Experimental research in 2 large garment enterprises and 2 small and medium garment enterprises were selected non-randomly to ensure the convenience of the study Major Garment companies are: DucGiang Corporation and Garment Corporation 10 Small and medium-sized garment enterprises: Nam Ha Garment Joint Stock Company and Nam Dinh Garment Joint Stock Company

3.2.2 Quantitative research methods

• Sampling method

The formula n = 5 * m Where: n: Number of samples to choose

m: number of observations

Thus, with the 47 observed variables of the four expected factors, the minimum sample

size was: n = 5 * 47 = 235 samples

In the study, the author examined data in 250 firms

On the other hand, the sample size is determined by the general formula:

Nt2 x pq

n =

N ε 2 + t2 x pq

n: sample size

N: sample total

In the thesis the author selects the sample with the following requirements:

- The reliability requirement is 95.0% (confidence factor t = 95%) In the table, the value

of the confidence factor t is calculated in terms of the coefficient t, of the luminescence, t

= 1.96 )

- The sampling error range does not exceed 5% (ε = 0.05)

With the assumption that the proportion of large enterprises is 50% and that of

small and medium enterprises is 50% Since p + q = 1, then p.q will be greatest when p =

q = 0.5 =>p.q = 0.25 => instead of the above formula to determine sample size (n)

In order to ensure sufficient sample size for the factor analysis, the author will

issue 500 votes, each of which will be distributed to 2 managers

• Method for determining sample distribution

Small and medium enterprises

Regions

• The method of data collection

Questions in the questionnaire included open and closed questions Closed questionnaires were used to collect information on the 'usage level' and 'importance' of the criteria for rating companies in Vietnam Level questions were measured using Likert scale - 5 levels In particular, level 1 is the lowest level and level 5 is the highest level The questionnaire was divided into three parts: Part I: Understanding the status of applying BSC in the enterprise's Margin Assessment through questions on the use of indicators; Part II: Finding information on the ability to use indicators in BSC to evaluate performance; Part III: General information about enterprises

• Data analysis methods

The author uses SPSS 19 software in data processing Data analysis is done through the following steps:

Step 1: Statistical description of the sample and the observation variable Step 2: The author assesses the reliability of the scale

Step 3: Analyze the EFA Discovery Factor Step 4: In-depth analysis by ANOVA to see if there is a difference between enterprises in different regions

Step 5: Apply BSC to set up a rating system for Vietnamese garment enterprises

SUMMARY OF CHAPTER 3

In Chapter 3, the author introduces the research methodology used in his research With the research topic, the author uses both quantitative and qualitative research methods With qualitative research, the author conducted in-depth interviews, experimental research With quantitative research, the author wants to test the reliability

of the observation variable, thereby performing exploratory factor analysis to examine the convergence of the observed variables while performing the ANOVA test to examine regional differences in the indicator system in the BSC evaluate the performance of enterprises

Chapter 4 RESEARCH RESULTS 4.1 Overview of Vietnamese garment enterprises 4.1.1 Characteristics of Vietnam garment industry

At present, the country has 4,200 garment enterprises, attracting more than 2.5

million people, accounting for about 25% of the labor force of Vietnam's industrial

sector According to VIRAC data, every $ 1 billion of garment and textile exports can

create jobs for 150 - 200 thousand laborers, including 100 thousand workers in garment

enterprises and 50-100 thousand workers in supporting enterprises other assistance The

majority of private sector enterprises (84%); concentrated in the South East (60%) and

Red River Delta Garment enterprises account for about 70% of total enterprises in the

industry

4.1.2 Management characteristics of Vietnamese garment enterprises

According to the sample survey, the authors found that the organizational structure

of garment enterprises was divided into two categories: online organization, online

organization - function

4.1.3 Development strategy of Vietnamese garment enterprises

- Build the garment industry into one of the key industries, and build some famous

brands

- Strengthen export garment industry to take advantage of market opportunities

- Ensure the garment industry develops sustainably, cutting costs and efficiency on the

basis of modern technology, quality management systems, labor management and

environmental management according to international standards

Large-scale garment enterprises:

- Increase market share

- Enhancing shareholder value

- Expanding export markets to Asia, US, UK

- Provide the perfect sewing products in both quality and design

- Towards automation, diversification in the product

- Bring customers confidence and satisfaction from them to attract new customers and

retain traditional customers

- Expand the relationship with partners and customers to enhance the brand

- The work environment is safe, comfortable, secure jobs and life for workers

- Improve production capacity

Small and medium size garment enterprises:

- Increase profits

- Expanding the size of enterprises

- To concentrate and expand the domestic consumption market

- Improve and improve services, product quality

- On time delivery

- Find more customers

- Attract and use rational human resources

4.2 Results of qualitative research 4.2.1 Results of in-depth interviews

After the in-depth interview, the author found that most Vietnamese garment enterprises do not currently have a suitable rating system At present, Vietnamese garment companies are of the opinion that the construction of a comprehensive evaluation system is urgent

On the other hand, from the in-depth interview, the authors find that the current appropriate indicator system needs to have current values: EVA, MVA, CFROI

In addition, the authors also added indicators: proportion of suppliers meet the requirements; Timely delivery time for suppliers; Percentage provider is a regular supplier to the business The author added the indicators also derived from the results of the interview

4.2.2 Results of the trial

Based on the results of the pilot study, the authors find that Vietnamese garment enterprises are in need of a comprehensive indicator system for the evaluation of marginal incomes including financial and non financial criteria When putting the indicators in four perspectives of BSC research trials in four enterprises, the authors found that managers are now very interested in the criteria for assessing the level of satisfaction of customers and employees and the level of human resource training as well

as investment, equipment renewal

4.2.3 Results of quantitative research

Statistics describe the observed variables The author distributed 500 questionnaires to 250 businesses, resulting in 462 satisfactory results

Assess the reliability of the scale

Large-scale garment enterprises

+ Credit rating scale Fanance perspective: After 2 Cronbach's Alpha tests, the result of retaining 14 targets (observation variable) was satisfactory with the coefficient