Business Strategy ASSIGNMENT 2

In this paper, I will analyze the macroeconomic impact and impact of an organization and its business strategies, and moreover, I will evaluate and apply the results of an organization analyzing using the Porters Five Forces model for a given market area. More specifically, in order to do this research, I will apply the Bao Viet company to do the requirements in this exercise 1.

ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 32: Business Strategy (574)

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Contents

I Introduction

Is a business consultant at Deloitte LLP Yourcompany provides consulting servicesranging from conducting internal andexternal analysis, planning strategy,executing strategy and evaluating strategy

to companies in many different disciplines.Currently, your company has an order fromcompany A that operates in a specific field.The CEO of company A wants your company

to help them perform a comprehensiveassessment of the organization includingassessments of both the internal andexternal environments of the company.Based on these analyzes, they also wantsome strategic recommendations that theyshould pursue in the future Morespecifically, in the selection of companies, Iwill apply Bao Viet as the company to dothis research

II Assess an organization’s internal environment and capabilities 2.1 Analyze the internal environment and capabilities of a given organization using appropriate

frameworks

2.1.1 Information

Bao Viet Fund - Protections Gather(universal exchange title is: BaovietProperty) may be a Vietnamese Back -Protections gather operating in numerousdiverse businesses, in which the most areasare protections protections, managing anaccount, budgetary speculation andsecurities Founded on January 15, 1965,Bao Viet has presently created into the No

1 Back - Protections Bunch in Vietnam and

is one of the 25 biggest Vietnameseendeavors certified and positioned by theState class Up to presently, Bao Viet Bunch

is headquartered in Hanoi with more than

200 branches and part units spread over 63areas and cities nationwide At the 50thcommemoration celebration in January

2015, Bao Viet is glad to be granted thePrimary Course Labor Award by the Partyand State Bao Viet Bunch was allowed theCertificate of Quality Administration byBVQI (UK) concurring to ISO 9001: 2000 inAdmirable 2001 and ISO 9001: 2008 in2009.With a network of 67 membercompanies and more than 300 salesdepartments serving customers nationwide,more than 3,000 staff members with highprofessional qualifications, strong financialpotential, diversified products andsuperiority, good governance - business, riskmanagement and claims settlement, BaoViet Insurance is confident in its consultingability and meeting all insurancerequirements of both individual andcorporate customers Karma In recent years,

Bao Viet Insurance has been one of thepioneers in implementing centralizedmanagementoriented business models,diversifying products and distributionchannels, and promoting management riskand build advanced information technologysystems to provide customers with perfectservices and lasting values

2.1.2 Value chain application in Bao Viet

Inbound Logistics

Receiving and storing raw materials andinput products from manufacturers forbusinesses Ensure that the inputs for themanufacture of products are delivered atthe most fair value, time, and expense Thisdisplacement flow must be specifically andmeticulously controlled In order to ensurethat manufacturing runs seamlessly and atthe lowest possible expense Around the

same time, it can be as risk-free andeffective as possible Bao Viet Group is apublicly traded company with a largemarket capitalization; BVH shares play aleading role in the financial insuranceindustry, have high liquidity, and arefrequently included in the portfolios offoreign ETFs Vietnam is a country in Asia.Was the first SOE to find a successfulinternational strategic shareholder.Suppliers are foreign shareholders andconsumers who use goods and services inBao Viet, resulting in a plethora of high-value product lines that would entice buyers

to return

Manufacturing

Bao Viet prioritizes demand in order toprovide goods and services to consumers.Bao Viet, in particular, owns a digitalinformation management infrastructurethat can easily access consumer

information, as well as a large-scale logisticschain around the country to compete withmany brands Other firms' service offerings,

a 24/7 call-center system that is recruitedand highly educated will run with highcapacity and is ready to serve clients, thebiggest hospital fee guarantee systemVietnam gives loyalty to customers and isthe chosen alternative for healthcarefacilities, and the company owns a hugeland bank in prime locations

Outbound Logistics

Bao Viet is currently the the appeal ofproduct lines to consumers by improvingthe prestige of the Bao

Viet brand by prestigious awards, boostingcustomer trust, and researching to launchmany brands

Items combining policy, investment, andfinancial management, call-center systemactivity 24 hours a day, seven days a week,maximizing the efficiency of the team of

consultants / insurance brokers andinvestment managers constructing abuilding on the basis of a financial store inconvenient places, unifying modern brandvalues, and targeting customers This buildsconfidence, and consumers can quicklyidentify and choose the best items for theirneeds

Marketing and Sales

Report from Bao Viet Life FinanceDepartment, after 6 months of usingMarketing Automation and Hubspot CRMservices of Repu Digital, the department hasrecorded remarkable business growthresults The response speed has beenimproved to meet the increasingexpectations of customers, expanding thelist of happy and satisfied customers

Marketing Automation service also excelled

at promoting its use, earning 30% morepotential customers through Digital

channels In particular, Bao Viet Life hasmade the most of the traffic coming fromthe website and through Repu's ConversionRate Optimization (CRO), the number ofpotential customers has increased throughthe website impressive number - 400%compared to the previous time

The conversion rate from potentialcustomers to subscribers to insuranceseminars and deep participation in salesstages is 3-5 times higher than potentialcustomers from other advertising channelssuch as Facebook

According to internal calculations andreports, after applying HubSpot system andconversion optimization consultingMarketing Automation, revenue is expected

to increase by about 10 billion, equivalent

to $ 400,000

More importantly, the cost of marketingstaff and online customer support is almost

unchanged Even the unification andsynchronization of the workspace also helpimprove work efficiency amongdepartments In the early stages there was

a 40% reduction thanks to automationthroughout Sales Automation As a result,Internet salespeople of Bao Viet Life caninvest more time in consulting and caringfor their customers This leads to anincrease in the percentage of interestedcustomers and deeper participation in thenext steps of the buying journey

Service

As an enterprise that provides products andservices to millions of Vietnamese people,Bao Viet determines that an enterprise canonly implement a sustainable developmentstrategy when it combines growth targets,economic profits with implement socialdevelopment, environmental protection

Staff

As the leading Finance - Insurance Group inVietnam, Bao Viet has a long history withmore than half a century of development, aleading prestigious brand in the market, andthe most experienced staff in the financialmarket main insurance with more than70,000 officers, agents and consultants

The infrastructure

The large-scale distribution network,including 168 branches and more than 700insurance transaction offices, covers allprovinces and cities of Vietnam that noother financial-insurance corporation inVietnam can compare

2.1.3 Application Benchmarking in Bao Viet

Life insurance in Vietnam is open tointegrate according to the world trend sinceVietnam has an open door policy Alongwith that is the establishment of insurance

companies in the Vietnamese market In theVietnamese market, Bao Viet has existed formany years and is still on the rise Besides,Manulife with a history of formation anddevelopment is also close to Bao Viet Comparing the size of the company up tonow, Bao Viet has owned more than 50product lines to customers, with more than

75 member companies, 300 transactionpoints, 200 branches nationwide.Vietnamese territory The company ownsmore than 2000 highly qualified staffmembers and 100000 professional serviceadvisors About Manulife with more than 18companies and 61 offices in 45 provincesand cities nationwide When evaluating thesize of the two companies on a 10-pointscale, most of Bao Viet has a higherdistribution scale in terms of infrastructure

as well as customer service staff, rated BaoViet 100 points, Manulife get 60 points

Comparison of revenue by year, specifically

in the first quarter of 2019 There is a slightdifference in revenue between the twocompanies Bao Viet and Manulife In thefirst quarter of 2019, Manulife's revenuereached 1141 billion VND and Bao Vietreached 1101 billion VND Judging on a 100-point scale, Manulife 100 points and BaoViet gets 94 points

Comparing customer service quality by

2020, Bao Viet has served more than 15.2million customers and Manulife has served800,000 customers Judging on a 100-pointscale, Bao Viet scored 100 and Manulife got

against threats The company's valuableresource is its workforce Highly specializedtrained resources will be very valuable tohelp the company increase the perceivedvalue of customers This is done byincreasing the difference in training forquality human resources in a new age.Resources that cannot convince theconditions to meet demand in theglobalization stage will lead to a competitivedisadvantage It is essential to continuouslyconsider the value of potential humanresources because when the internal orexternal conditions constantly change, itcan make the workforce in the companylose value or in vain

Rareness

A fully trained human resource with skillsand knowledge only found in one or a fewcompanies is considered rare The rare andvaluable human resource is what makes a

temporary difference for Bao Vietenterprises On the other hand, a situationwhere there are more than one firm withthe same human resources or usingcompetencies in a similar way leads tocompetition This is because businesses canuse identical resources to execute similarplans, and no organization can deliveroutstanding performance Even thoughequal competition is not a desirableposition, Bao Viet enterprise still does notignore valuable but popular resources.Losing valuable human resources andcapabilities will hurt a unit because they are

so important to survive in the market

Imitable

A human resource is considered to be verycostly to imitate if other organizations donot have it, cannot imitate it, cannot buy orreplace it at a reasonable price A businesshas the valuable, rare, and expensive

resources to mimic achieving a sustainablecompetitive advantage At Bao Vietenterprise with high quality humanresources trained in both knowledge andskills, it takes a great amount of financialresources for other businesses to imitate toinvite highly trained human resourcesspecialists as Bao Viet did Because thehistorical condition of Bao Viet's formation

is somewhat ahead of other businesses inthe same industry, other businesses have tospend a long time imitating Humanresources in Bao Viet will be an advantage

to compete in the future

Organization

Resources themselves do not create anyadvantage for a business if it is notorganized to capture value from them BaoViet has organized systems for itsmanagement, processes, policies,organizational structure and culture to be

able to fully discover the potential ofvaluable potential and capacity resources ,rare and expensive to imitate With a well-known brand name in the market andcontinuous innovation bringing in manypositives both internally and externally, BaoViet enterprises in the future will achievesustainable development values

2.1.5 Application SWOT in Bao Viet

Strength

Strengths are positive or beneficial factors inthe business that help achieve your goals.Here the strong point of Bao Viet insurance

is that real estate sources such as officesand headquarters of BAO Viet in theprovinces have quite favorable locations.The brand has a history of 25 years.Network spanning provinces It is a specialSOE and the state backing behind thecorporation Projects using state budget

funds will use Bao Viet's insurance products.Strong financial strength 18% share is forstate revenue.(BaoViet,2020)

Weakness

Weaknesses are negative factors in thebusiness or make it difficult to achieve yourgoals Here, the business results are not tooimpressive compared to other companies inthe same industry There is no outstandingtalent in human resources Mr Binh wassent down by the government Thepredecessor, who is very knowledgeableabout the Vietnamese insurance market, is

Mr Truong Moc Lam, who has been buildingfor many years and has passed away Theoperating apparatus below is also notdynamic enough as the other joint stockventure companies like Mr Duc of BMI Lowsalary mechanism makes many employees

go to foreign insurance companies Widenetwork and multi-sector operation if the

staff is not well managed will be a realdifficulty to smoothly operate the system.The financial investment segment is stillquite weak (BaoViet,2020)

III Conclusion

With a vision to 2025 is Maintain its position

as the leading Financial - Insurance Group inVietnam, enhance internationalcompetitiveness, strong financial potential,sustainable and efficient growth, Bao Vietaims to maintain the No 1 position in themarket in the field of life insurance and non-life insurance; is a leading enterprise in thefield of fund management, providingdomestic financial services; has aninternational standard foundation andinfrastructure for information technology,meeting the requirements of administrationand business throughout the system