DSpace at VNU: Developing business strategies for Hau Giang Pharmaceutical Joint Stock Company (2012-2015)

Developing business strategies for Hau Giang Pharmaceutical Joint Stock Company 2012-2015 Nguyễn Quý Anh Tuấn Khoa Quản trị Kinh doanh Luận văn Thạc sĩ ngành: Kinh doanh và quản lý; Mã

Developing business strategies for Hau Giang Pharmaceutical Joint Stock Company

(2012-2015) Nguyễn Quý Anh Tuấn

Khoa Quản trị Kinh doanh Luận văn Thạc sĩ ngành: Kinh doanh và quản lý; Mã số:

Người hướng dẫn: TS Vũ Anh Dũng

Năm bảo vệ: 2011

Keywords: Công ty cổ phần; Quản trị kinh doanh; Dược; Chiến lược kinh doanh

Content

TABLE OF CONTENTS

ACKNOWLEDGEMENTS i

ABSTRACT ii

TÓM TẮT v

TABLE OF CONTENTS viii

LIST OF TABLES xi

LIST OF FIGURES xii

LIST OF ABBREVIATIONS xiii

CHAPTER 1: INTRODUCTION 1

1.1 Necessity of the thesis 1

1.2 Research aim and objectives 3

1.3 Research questions 4

1.4 Research methodology 4

1.5 Scope of the research 5

1.6 Significance of the research 6

1.7 Suggestions for future research 7

1.8 Thesis structure 7

CHAPTER 2: LITERATURE REVIEW 9

2.1 Strategy overview 9

2.1.1 Strategy definition 9

2.1.2 Hierarchy and types of strategy 11

2.2 Strategic management process 16

2.3 External scanning: macro environment and industry environment analysis 17

2.3.1 Macro environmental analysis: P.E.S.T.E.L Model 17

2.3.2 Industry environment analysis 18

ix

2.3.3 Synthesis of external factors – External Factors Analysis Summary

(EFAS) 23

2.4 Internal scanning: organization analysis 25

2.4.1 Resource-based view of the firm 25

2.4.2 Value chain of the firm 26

2.4.3 Synthesis of internal factors – Internal Factors Analysis Summary (IFAS) 28

2.5 Strategy formulation 29

2.6 Strategy implementation 30

2.6.1 Management issues 30

2.6.2 Tactical issues 34

2.7 Strategy evaluation and control 35

2.8 Chapter review 37

CHAPTER 3: ANALYSIS ON VIETNAM PHARMACEUTICAL MARKET 39

3.1 Overview of Vietnam pharmaceutical market 39

3.2 Notable characteristics of Vietnam pharmaceutical market 42

3.3 Forecasts on Vietnam pharmaceutical market in 2012 – 2015 50

3.3.1 Development prospects of Vietnam pharmaceutical market 50

3.3.2 Prescription drug market forecast 51

3.3.3 OTC drug market forecast 51

3.3.4 Patented Drug Market Forecast 52

3.3.5 Generic drug market forecast 53

3.3.6 Pharmaceutical Trade forecast 54

3.4 Synthesis of External Factors – EFAS (External Factors Analysis Summary) 55

3.5 Chapter review 58

CHAPTER 4: ANALYSIS ON DHG PHARMACEUTICAL COMPANY62

4.1 Overview of DHG pharmaceutical company 62

4.1.1 Establishment and development of DHG 62

4.1.2 Scope of business and major products of DHG 64

4.1.3 Vision, mission and core values of DHG 65

4.1.4 Organizational structure of DHG 66

4.1.5 Business performance of DHG 67

4.3 Internal analysis for DHG 69

4.3.1 Value chain analysis of DHG 70

4.3.2 Distinctive competencies of DHG 75

4.4 Competitive position of DHG 77

4.5 Synthesis of internal factors – IFAS (Internal Factors Analysis Summary) 87

4.6 Chapter review 91

CHAPTER 5: STRATEGY DEVELOPMENT FOR DHG IN 2012 – 2015 93 5.1 Orientations and objectives of DHG in 2012-2015 93

5.2 Strategy development for DHG 94

5.2.1 International experience on strategy development 94

5.2.2 TOWS Matrix of DHG 95

5.2.3 Strategy development of DHG in 2012 - 2015 97

5.3 Recommendations for implementing and controlling DHG’s strategies 105

CONCLUSION 107

REFERENCES 109

109

REFERENCES English:

1 David, F (1986), “The Strategic Planning Matrix – A Quantitative

Approach”, Long Range Planning, Vol.19, No.5, p.102

2 Barney, J B (1999), “Looking inside for competitive advantage”,

Academy of Management Executive, p.9

3 Business Monitor International (BMI) (Q42010), Vietnam Pharmaceuticals and Healthcare Industry Report: Including 5-year and 10-year industry forecasts by BMI

4 Byars, L.L., Rue L.W and Zahza, S.A (1996), Strategic Management,

Irvin

5 Hitt, M.A., Ireland, R and Hoskisson, R.E (1999), Strategic Management:

Competition and Globalization, South-Western College Publishing

6 Hunger and Wheelen (2000), Essentials of Strategic Management, Prentice Hall

7 Kumar, R (2005), Research Methodology: a step-by-step guide for beginners,

SAGE

8 Niven, P (2002), Balanced scorecard step-by-step: maximizing

performance and maintaining results, John Wiley and Sons

9 Porter, M.E (1980), Competitive strategy: techniques for analyzing

industries and competitors, Free Press

10 Radder, L and Louw, L (1998), “The SPACE Matrix: A Tool for

Calibrating Competition”, Long Range Planning, Vol.31, No.4, pp 549

11 Thompson, A.A and Strickland, A.J (1998), Strategic Management:

Concept and Cases, Irwin/McGraw-Hill

12 Weihrich, H (1982), “The TOWS Matrix – A Tool for Situational

Analysis”, Long-Range Planning, Volume 15, no.2, p.61

13 “The success story of Sun Pharma” 25/5/2007 Rediff India Abroad

Retrieved from http://www.rediff.com/money/2007/may/25bspec.htm

14 “M&A of Sun Pharma” 30/12/2010 Retrieved from

Vietnamese:

1 “Thị trường dược phẩm tăng trưởng 25%” 31/5/2010 Báo điện tử Thời

báo Kinh tế Sài Gòn

“Vietnam pharmaceutical market increases 25%” 31/5/2010 SaigonTimes

Online Retrieved from

http://www.thesaigontimes.vn/Home/kinhdoanh/thuongmai/35284/

2 “DHG đạt lợi nhuận gấp đôi cùng kỳ” 1/12/2009 Báo điện tử Thời báo

Kinh tế Việt Nam

“DHG’s profit: twice as high as that of the last year period” 1/12/2009

Vneconomy Retrieved from

http://vneconomy.vn/20091201051952243P19C9915/dhg-dat-loi-nhuan-gap-doi-cung-ky.htm

3 “Thị trường dược và chuyển động từ phía nhà đầu tư ngoại” “30/11/2010

Báo điện tử Thời báo Kinh tế Việt Nam

Pharmaceutical market and moves of foreign investors” 30/11/2010

Vneconomy Retrieved from

4 “SaViPharm cung ứng thuốc cho GlaxoSmithKline” 16/12/2010 Báo điện

tử Thời báo Kinh tế Sài Gòn

“SaViPharm manufactures medicine for GlaxoSmithKline” 16/12/2010

SaigonTimes Online Retrieved from

http://www.thesaigontimes.vn/Home/kinhdoanh/thuongmai/45031/SaViPh arm-cung-ung-thuoc-cho-GlaxoSmithKline.html

5 “Sản xuất thuốc phải nhập khẩu 90% nguyên liệu ” 27/7/2010 Báo điện

tử Thanh Niên

111

“ Manufacturing medicine has to import 90% materials” 27/7/2010

ThanhNien Online Retrieved from

6 “Hướng đi mới cho nguyên liệu dược” 25/10/2010 Báo Điện tử Nhịp Cầu

Đầu tư

“New direction for pharmaceutical materials” 25/10/2010 Nhip Cau Dau

Tu Online Retrieved from

http://www.nhipcaudautu.vn/article.aspx?id=6369

7 “Sản xuất nguyên liệu thuốc kháng sinh: Phập phù tìm đầu ra” 13/8/2010

Báo điện tử Sài Gòn Giải Phóng

“Producing antibiotics materials: Difficult to find buyers”

13/8/2010.SGGP Online Retrieved from

8 “Quy hoạch về phát triển ngành công nghiệp hóa dược đến năm 2015 tầm

nhìn 2025” Cổng thông tin điện tử Chính Phủ

“Plans for the development of the pharmaceutical chemical industry till

2015 and vision until 2020 ” Vietnam Government Online Portal

Retrieved from

http://www.chinhphu.vn/portal/page?_pageid=578,33345598&_dad=portal

&_schema=PORTAL&docid=87182

9 “Công nghiệp Dược Việt Nam – Bước khởi đầu gian nan” 27/2.2010 Báo Điện tử Tuổi Trẻ

“Vietnam pharmaceutical industry – Difficult start” 27/2.2010 Tuoi tre Online

Retrieved from http://tuoitre.vn/Tuoi-tre-cuoi-tuan/365682/Cong-nghiep-hoa-duoc-Viet-Nam-Buoc-khoi-dau-gian-nan.html

10 Bảng cáo bạch công bố thông tin (nếu có) của các công ty dược DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

Prospectuses (if any) of pharmaceutical companies DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

11 Báo cáo thường niên 2006 - 2009 (nếu có) của các công ty dược DHG,

DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

Annual Reports 2006 – 2009 (if any) of pharmaceutical companies DHG,

DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

12 Báo cáo tài chính 2006 - 2009 (nếu có) của các công ty dược DHG, DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

Financial Reports 2006 - 2009 (if any) of pharmaceutical companies DHG,

DVD, IMP, DMC, DBT, DCL, DHT, OPC, TRA

Website

1 Ho Chi Minh Securities Exchange website, www.hose.vn

2 Hanoi Securities Exchange website, www.hnx.vn

3 DHG website, www.dhgpharma.com.vn

4 DVD website, www.viendongpharma.com.vn

5 IMP website, www.imexpharm.com.vn

6 DMC website, www.domesco.com.vn

7 DBT website, www.bentrepharma.com.vn

8 DCL website, www.cuulongpharma.com.vn

9 DHT website, www.hataypharma.com.vn

10 OPC website, www.opc.com.vn

11 TRA website, www.traphaco.com.vn

12 Sanofi-Aventis Vietnam website, www.sanofi-aventis.com.vn

13 Pfizer website, www.pfizer.com

14 Novatis website, www.novatis.com

15 MSD Vietnam website, www.msd-vietnam.com

16 GSK Vietnam Website, www.gsk.com/worldwide/vn.htm