Electronic component distribution development strategy for a Vietnamese startup in a new environment post-Covid 19 Pandemic
Lam, Giau P (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202401251824
https://urn.fi/URN:NBN:fi:amk-202401251824
Tiivistelmä
GL company is being suffered the impacts from business environment post Covid 19. The causing lead to the company’s turnover dropping significantly. The electronic component demand is slowing down situation. Based on practical issues, GL company’s board of director expects the suitable strategies to tackle these challenges. Therefore, the author has built the thesis based on existing issues of GL company. The research questions are established accordingly.
David, et al. (2023, p. 30) figures out a comprehensive strategic management model. The David’s model accompanies with analytic techniques, the five forces model (Porter, 1980), strategy map (Kaplan, 2010), Balanced Scorecard (Kaplan & Norton, 1992) are a corrective solution to solve issues of GL company. By analytic techniques, the author determines the list of the external factors, competitive factors, and internal factors. Furthermore, the crucial factors of the external & internal environment are collected through expert survey.
The building of IFE matrix, CPM matrix and EFE matrix is based on crucial factors of analytic results. Simultaneously, customer survey is conducted to contribute the strategy formulation. The outcomes of matrices figure out the responses of existing GL’s strategies with opportunities & threats, strengths and weaknesses, and customer’s expectation. The author conducts SWOT matrix analysis. The results of SWOT matrix reveal the feasible strategies which GL company should consider for strategy form. In the decision stage, the quantitative strategic planning matrix (QSPM matrix) will generate attrative strategies that GL company should be prior to implement because of its resources limitations.
Based on these attractive strategies of QSPM matrix, the author defines the objectives for financial perspective, customer perspective, supplier perspective, learning & growth perspective. Strategy map is built to visualize the strategy. Consequently, Balanced Scorecard is built based on clear objectives, feasible measures, achievable targets, initiatives to boost employees and managers pay attention the best efforts in the same rules and gained successful strategy implementation. Finally, the results of research will be summarized in the conclusion. And, the author suggests for further extensive studies such as developing research through survey of outside experts, building a finacial strategy for GL company, building the development strategy for specific product or specific region of Vietnam.
David, et al. (2023, p. 30) figures out a comprehensive strategic management model. The David’s model accompanies with analytic techniques, the five forces model (Porter, 1980), strategy map (Kaplan, 2010), Balanced Scorecard (Kaplan & Norton, 1992) are a corrective solution to solve issues of GL company. By analytic techniques, the author determines the list of the external factors, competitive factors, and internal factors. Furthermore, the crucial factors of the external & internal environment are collected through expert survey.
The building of IFE matrix, CPM matrix and EFE matrix is based on crucial factors of analytic results. Simultaneously, customer survey is conducted to contribute the strategy formulation. The outcomes of matrices figure out the responses of existing GL’s strategies with opportunities & threats, strengths and weaknesses, and customer’s expectation. The author conducts SWOT matrix analysis. The results of SWOT matrix reveal the feasible strategies which GL company should consider for strategy form. In the decision stage, the quantitative strategic planning matrix (QSPM matrix) will generate attrative strategies that GL company should be prior to implement because of its resources limitations.
Based on these attractive strategies of QSPM matrix, the author defines the objectives for financial perspective, customer perspective, supplier perspective, learning & growth perspective. Strategy map is built to visualize the strategy. Consequently, Balanced Scorecard is built based on clear objectives, feasible measures, achievable targets, initiatives to boost employees and managers pay attention the best efforts in the same rules and gained successful strategy implementation. Finally, the results of research will be summarized in the conclusion. And, the author suggests for further extensive studies such as developing research through survey of outside experts, building a finacial strategy for GL company, building the development strategy for specific product or specific region of Vietnam.