NATIONAL ECONOMICS UNIVERSITY

INTERNATIONAL SCHOOL OF MANAGEMENT AND

ECONOMICS

HIGHER NATIONALS
BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)

Unit Code, Number and Title L/508/0485 RQF - Unit 1: Business and the Business Environment

Semester and Academic Year Semester 1 / Academic year 2020 - 2021

Unit Assessor(s) Daniel Vanhoutte/ Dao Minh Hoang/ Pham Thi Bich Ngoc

Assignment Number and BBE A2.1: Business Environmental Analysis

Title (Assessment 2 of 2, Individual assignment)
Issue Date Monday, November 9th, 2020
Submission Date 10:00 am on Monday, December 7th, 2020

IV Name Nguyen Thuy Chinh

IV Date Monday, November 9th, 2020

Student name Nguyen Tien Hung

NEU Student ID 10190521 Pearson ID

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Content:
I. Introduction…………………………………………………..2
II. Major Finding……………………………………………….3
A) PESTLE…………………………………………………..3
1. Political & Laws………………………………………………………....3
2. Economic………………………………………………………………...3
3. Environment & Technology……………………………………………..12
B) SWOT……………………………………………………13
III. Conclusion…………………………………………………
16
References……………………………………………………..17

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I. Introduction
There are 3 parts in the report. In the first one, the competitors of aviation are judged through
different features, meanwhile PESTLE - abbreviating for Politics, Economics, Socio – culture,
Technology, Legal and Environment is referred in the following part, which would useful for the
discussion about how Marco environment can impact Vietnam Airline. And finally, the last
section illustrates the SWOT with the detailed explanation of Vietnam Airline.

II Major Findings
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A. PESTLE:
PESTLE is an expression of six main letters which represent for Political, Economy, Social-
Culture, Technology, Legal and Environment, or known as many other names along with
PEST... Scholes and Johnson were first thought to have developed this research process. The
main objective of this study is decried as a key instrument for understanding market growth rate,
market share, customer lifestyle characteristics, state regulatory quality, business workplace,
international business expectation and also the threats as well as opportunities in environment
(Rakesh, 2014).
1. Political & Laws:
All enterprises should considerably pay attention to these associated factors. In general, an
organization of a business depends on the stabilisation of the political situation of that region. In
Viet Nam which follow the Socialist Republic, therefore most companies in Viet Nam are being
controlled by the Government in Viet Nam. As a result, Vietnam Airline is under the supervision
of state management agencies at all levels and aspects and the government is holding 86,19% in
the percentages of the shares (Annual Report 2019 VNA). Another power from the Government
is creating the laws in order to protect people‘s right and punish violation. For example, Vietnam
Airline belongs to oligopoly market with the high barriers so that it is challenging for new airline
to form and develop as quickly as Vietnam Airline have done in recent years. It can be
cconsidered that VNA has the ability of changing price and other elements in this marker, which
can directly to the consumers’ benefit. The government based on that and decided to promulgate
the Competition law to ensure not only the fair competition between companies but also the
interests of clients in all markets generally and the oligopoly in particular. This law has been
comprehensively updated in 2018 and assigned that the abuse of the top position of every
enterprise, although they bring about reality bad consequence or not, is prohibited (Competition
Laws, 2018). It means that the action which can harm to customers and reject the other rivals
will be fined.

2. Economic:
2.1 Country’s economic status:
First of all, GDP growth in the country is an essential factor in evaluating the strength and
weakness in economy of a country and domestic industries.

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 Figure 1: The growth of GDP in Viet Nam from 2017 to 2020

As we can see form the chart (Tradingeconomics, 2020), the rate of GDP in Viet Nam was
fluctuating all the period. In 2017, the percentage of GDP started over than 6%, then through a
fluctuated trend, it reached 7.5% in the last months of 2019. Nevertheless, in 2020, due to the
spread of a dangerous disease called Covid-19, all activities of society have been negatively
affected. In detail, Vietnam government decided to stop the business operations of all companies,
restaurants as well as other entertainment from 1st April in at least two weeks (Ministry of
Health Portal, 2020). This caused a significant consequence for the Vietnam’ s economy. It is
clearly evidenced that the proportion of GDP dropped intensely to under 4% in the first quarter
of 2020. Therefore, with the consequence of Covid-19, airline industries around the world have
many troubles and lost 84 billion USA while in Viet Nam, the number reached 4 billion VND
and Vietnam Airline was the enterprise which suffered the heaviest damage (IATA).

Another concerning factor for aviation company is the rate of Unemployment. Travelling by
plane is the most expensive way, the price for an airline’s ticket is between 500 and 3 million
VND in domestic market and it can increase to more than 10 million VND for a flight to foreign
country (vietnamairline.com). Therefore, a person who suitable for air transportation, must not
belong to the unemployment group. The graph bellow will analyse the rate of unemployment in
Viet Nam and Japan from 2017 to 2020 (Tradingeconomics, 2020)

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 Figure 2: The unemployment rate in Viet Nam and Japan

As can be seen from the graph, the unemployment rate of Viet Nam witnessed a downward trend
while in Japan, the rate of unemployment is being increased in the present. According to the
reducing in the unemployment rate in Viet Nam, Vietnam Airline (VNA) are seemed to have
some new potential customer in the near future.

The rate of Inflation also played as the economic element calculation as it illustrates “the rate of
the standard level of cost in products and services is increasing and also buying power is
consequently declining (Khan, 2015). In other words, the growth in the rate of Inflation, the
client trend will be much less appealing to aviation industry. For instance, the changing in the
inflation’s rate is one of the reasons for the increase in price of fuel as well as other factors in
airline industry. Customers have to pay more money for their tickets and also whenever they
cancel the track. This would create a significant fall in the demand of using airline as the total
charge of the airline industry rises due to the upward trend in the cost of fuel (U.S. Airline
Industry Headed, 2016). According to the inflation rate in Viet Nam between 2019 and 2020,
the rate had been reduced 2% in Oct 2019 and then it grown dramatically and reach a peak at
6.5% in Jan 2020 before decreased sharply to 2.5% in the end of Apr 2020 (Tradingeconomic,
2020)

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 Figure 3: The Inflation rate in Viet Nam in 2019 and 2020

2.2 Market:
Viet Nam have been rated as one of the world’s fastest expending in the market of airline
industry (International Trade Administration).
Viet Nam’s aviation infrastructure has 22 in the total airports including 11 airports in domestic
market as well as the number of airports in international market. The sized of Viet Nam’s
airports was designed in order to contain nearly 95 million passengers per mpa while the number
of customers was predicted to reach 128 million in 2020 in the airport (without the spread of n-
Covid) (International Trade Administration). Vietnam Airlines is one of the favourite brands
in the domestic market in Viet Nam, its competitors are Viet Jet, Bamboo, JetStar Pacific… The
size of the domestic market in Viet Nam of VNA was 37.7 million customers in 2019 and it has
grown 10% more in 2018 and this was the entry of new players. While in the international
market, VNA has 34.7 million passengers with 15% increasing in the period years (VNA
Annual Report 2019).

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 Figure 4: the market share of domestic aviation in Viet Nam

About overseas flights in Vietnam, Vietnamese carriers made up a whole 57.8 proportion in the
portion of market. 23.9 percent was the total share of Vietnam Airlines and Jetstar Pacific while
VietJet performed a lower percent, at 18.3. Bamboo Airways have not activated the international
flight service yet. To September 2019, Vietnamese carriers provided 200 fixed-wing aircraft
which is nearly twice bigger than it was in August 2014, of 102 craft. Vietnam Airlines and
VASCO own 98 aircraft and 18, 70, 10 is the figure of aircraft belonging to Jetstar Pacific,
VietJet and Bamboo Airways, respectively. According to the Concentration Ratio (CR), which is
using to evaluate and define the kinds of competition and market in airline industry. With the CR
smaller than 50%, there will be the perfect competition in the market, if the rate growth more
than 60% which represent for the oligopoly industry and monopoly competition is having the
rate equal 100% (Kenton, 2020). In Vietnam Airlines, it has 49.88%, in the percentage of
customer in 2019 (Tinh, 2019), therefore VNA considered as an oligopoly company.
As an oligopoly company, Vietnam Airline played as a price maker, however they are not the
only one, VietJet also have ability to do that with 41,34 % in the percentage of customers in 2019
(Tinh, 2019). Customers can depend on the price and the service to have a suitable choice. It is
clearly seen that Vietnam Airline provides for customers the highest quality as well as the
highest price. On the second position, a VietJet’ s flight costs lower expense coming with a
steady service. As a result, the market creates different choices for people so that although clients

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are being price makers, they do not considerably impact on the changes of price in the hole
market. Moreover, whenever passengers choose the airline brands or even location and
destination to travel, it will appeal an elasticity in the amount of prices for the airline’s ticket.
The demand for airline seats would change according to many elements. For example, all
competitors provide flights on the same routes or a large number of routes have the same
increase of price, there will be less elastic in the demand of services in aviation. Besides, the
demand for airline would be inelastic in case of the price increase can be expanded to bigger
groups of airlines competitors or destination competitors (IATA).

2.3 Share of Industry:

*Porter’s Five Forces analysis in Viet Nam Airline’s industry activities:
The Porter’s Five Forces was proposed in 1979 by an instructor at Harvard University, professor
Micheal Porter. He created five models of his forces, including five distinct elements: Threats of
substitute products, Threats of new entrants, Rivalry among existing competitors Bargaining
power of buyers and Bargaining power of suppliers. (E. Dobbs, 2014).

(Imagine: Business to you, 2016)

a) Threat of new entrants:

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The danger of new applicants represents the belief of new competitors joining the business and
increases the level of competition, thus reducing its attractiveness (Tutor2u, Defining an
Industry). It seems the entry risks in the aviation industry are low because of restricted in the
pool of candidates and the attempts of new competitors to gain a business foothold are strongly
contested by industry participants. (Thompson, A., Strickland, A., Gamble, J., (2007), pg 61)
However, there are several barriers that new entrants encounter and must hurdle,
including:
High capital necessities: one of the costliest sectors is the airline sector, including aircraft
procurement and lease costs, security and safety procedures, customer support and human
resources. (Tutorial: Industry Handbook, Investopedia). In VNA the safety level is 7/7
(according to the Airline Ratings safety standards) and VNA already has more than 28 million
transported passengers in the present with the Vietnam’s largest airlines fleet. (Annual Report
2018/ vietnamairline.com). Moreover, 5 subsidiaries, 25 branches in over 20 major Vietnamese
on 31 December 2019. In addition, with 31 branches and representative offices in 20 countries
and territories, Vietnam Airlines has a geographically broad commercial presence covering
several parts of Asia, Europe, North America and Australia, which is able to catch up with
(Annual report 2019 VNA). Therefore, Vietnam Airlines will be believed as high quality airline
and this will help VNA in attracting new potential customer.

Restrictive regulatory policies: Following the Decree No. 76/2007/ND-CP of the Governments
which dated 09 May 2007 on business in air transport and general aviation, the condition for
applying business licenses must satisfy enough the quality and quantity of aircraft, organisation,
management and manpower for the operation and maintenance of aircraft, source of capital to
ensure the authority of aircraft, and legal capital ranging from 200 to 1000 billion. All of the
conditions are too high therefore it will prevent business from opening airline industry in Viet
Nam.
Brand value is another challenge for new entrants. In the airline industry, branding is crucial
and brings many advantages for a large airline. Major carriers devote substantial assets to
promotional activities. Frequent flyer systems and other opportunities have proven successful in
incentivizing passengers to travel with those airlines. This opportunity may also be good enough
for a client to select one airline over others, since another competitor provides a lower fare.

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Economy of scale if another factor which newbies company have to face in order to achieve and
surpass. Overall, this term can be defined as a term used by economists to refer to the situation in
which the cost of producing an additional unit of output (i.e., the marginal cost) of a product
(i.e., a good or service) decreases as the volume of output (i.e., the scale of production)
increases” (LINFO, 2006). Vietnam Airline is a leading company in airline industry in Viet Nam
and it also has already appeared with the large scale on the international or domestic market so
that the company is the price taker, VNA can reduce all the cost and create many steal-deals
offer for the passengers which others company cannot.
b) Bargaining power of buyers:
The cost of switching, relative purchasing quantity, product standardization, demand elasticity,
brand identification and service quality are calculating the buyer power. Due to the Internet,
pricing data is less fragmented and easy to compare. For vey same flights, a traveller may often
fond price discrepancies. It is not cheap to travel by plane and can be the most expensive
component for a trip. Thus, demand seems to be very elastic for some consumers, price sensitive
and looking for the best offers available. Nevertheless, the negotiating abilities of consumers in
the aviation sector in Viet Nam are not that powerful. The choice of a cheap market airline with a
reasonably high-quality level is small. They may prefer Jetstar Pacific (which currently
combined with VNA) or some business such as VietJet, which passenger credibility has not yet
grown and received negative feedback (vneconomic.vn). In other words, there is little variance
in the choice of client. In term of seldom booked long-haul flights, there are few international
airlines operating foreign flights directly from Viet Nam due to the monopoly in VNA such as
Vietnam Airline is the only industry has planes which operate flight from Viet Nam to France
while the others airline in Viet Nam cannot. (vietnamairline.com)
c) Threat of substitute products:
The existence and challenge of substitutes referred to the possibility that businesses in on
industry are subject to market pressure from the activities of business in a near-adjacent sector if
consumers see the goods of the two companies as replacements (Thompson, A., Strickland, A.,
Gamble, J., (2007), pg. 64). The aspect of competitive from substitutes is impacted by the
simplicity of with which customers can change over to a substitute consisting of three elements.
The first one is Available and Price Attractiveness of Substitute. Airlines’ ticket rates are
much higher compared to other forms of transportation. Nonetheless the long path from the
North to the South would make this distance smaller. Therefore, airline industries still have their

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place in the domestic market. The second factor is Comparibility of Substitute (quality,
performance, and other relevant attributes). The highest degree of quality, speed and security is
given by airlines. Fortunately, competitive advantages get much worse domestic market,
particularly on short routes, since it requires awhile with both on-air passengers and airport
transport, and inversely, since airports are placed outside of urban areas. The last prospective is
Switching cost. JetStar Pacific and VietJet can draw price-sensitive and convenience-oriented
passengers away from these alternative due to decreased non-stop airplanes. In addition, two
other airlines, Air Mekong and Vietnam Airlines, they both have systems called that the Mekong
Club (AirMekong) and Golden Lotus Plus Program (VNA) which can be become as passenger’s
interaction with the company in which frequent flyers can benefit from the number of miles
travelling with these airlines including remarkable convenience, free tickets, and
privelegedservice (VNA and AirMekong official website).
As the majority of Vietnamese citizens are bugged income, the switching cost is small and the
position of the airport is far away from urban centre, and for its cost and discomfort, airlines are
fallen behind other means of transport in domestic market.
d) Bargaining power of Supplier:
Aspects linked to the negotiating supplier’s power include the risk of forward growth and the
absorption of suppliers in the company. Aviation industry suppliers covering from aircraft
manufactures, fuel provides, flight academies supply flight attendance rates, flight academies,
respectively to a catering business. Normally, for the following reasons, the bargaining power of
suppliers in the airline industry is pretty high. First the airline industry in Viet Nam is controlled
by Boeing and Airbus. In depth, for all types, 10 Boeing 707 and 50 Airbus are being included in
VNA (vietnamairline.com). The focus provider inhibits the ability of the airport to exercise
supplier power. Vietnam ‘airline industries are unable to intergrade backwards with aircraft
manufacturers to self-produce on its own. Moreover, according to Vice President in Vietnam
Airline that the key factor of the airline industry was jet fuel, which accounted for about 80% of
operating expensed (Sharma, 2012) and straight forwardly affected the cost from each airplane
ticket. Rising in fuel prices forced airports to reduce 10-20% of current expenditure on all goods,
use fuel-efficient, maintain flexible schedules. Furthermore, the monopoly of airline in Viet Nam
Petro Corporation- Vinapco forces (Vinaoca.com) domestic industries into a problem that they
have no choice but to accept Vinapco as their providers in fuel, according to Vice President in
VNA. The situation of JPA on 31st March 2008, Vinapco sent a published application to raise

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the price of a Jet’s fuel increased to 750,000VND/ton instead of 593,000/ton in just a day, it is a
classic case that shows clearly the enormous power in Vinapco. While Jetstar Pacific had not
accepted and tried to bargain however Vinapco still stopped supplying fuel to this company on
April 1, as the result, JetStar had 30 flights delay and even more than 5,000 unhappy impacts and
feedbacks from passengers (taichinhdientu.vn). Valuable and essential product characteristics
and also the youthfulness of basic inputs (aircraft and fuel) improve supplier bargaining power
which will versus the aviation company in Viet Nam.
e) Rivalry:
The competitive in rivalry indicates the purpose of competition on a market between companies
(Defining an Industry, Tutor2u). Since carriers are engaged in a constant battle to carry out the
market share from others, the improvement of the industry is average and since it was easy for
customers to move between aviation industries, the competition will be increased with the
changing in price. In the aviation industry, competition is also intense because of fixed cost.
Based on Principle 3: “Rational individuals believe as much of the price of a trip is determined at
the margin” of “Ten Economics Principles,” there is a great incentive for aviations to offer
unsold tickets efficiently to hide their price as many as possible, which resolves price
competition among companies. In terms of finances, technologies, in-flight entertainment,
customer support, aviations are constantly being against the others. Through numerous strategies
(full-service vs. low-cost), the competition power of the domestic aviation companies in Vietnam
is very massive, requiring companies to have enough strength and advantages in competition in
order to succeed.

3. Environment & Technology:

Aviation industry have to take an eye to the area’s environment caused there are many complies
about the air pollution from plane and they have to invest in the technology to find out the best
solution for the problem. In 2018, airlines industries engendered more than 800 million tons of
carbon dioxide (CO2) which is the caused for the greenhouse effect. In Europe, many people
don’t like to travel by plane when the damage from airlines to the air are being clearly and more
concerned, instead of flying, people from here choosing to going by boat (CNN Explain). This is
contrary to the demand from Viet Nam, aviation is an important industry, the amount of
passenger in Viet Nam airlines is increasing dramatically (IATA) as well as the number of
flights, therefore more and more waste fuel is burning, and the threat of air pollution is growing.

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Aviation industry in Viet Nam should figure out a suitable solution such as replacement fuel with
the green-friendly fuel. For example, in 2019, Etihad Airways using a mix of jet fuel and biofuel
made from a plant called Salicornia, which grown in the Abu Dhabi desert, using to flight
climate change (CNN Explain). In fact, Vietnam Airline has complied with the environment’s
applicable laws protection and also, they invest in the technology to update the vehicle and
equipment which help reducing in the fuel consumption and the destruction in the environment
by CO2 emission (VNA Annual Report 2019).

B. SWOT analyse:
Strengths Weakness

 One of the most famous brands in  The productivity from selling online
aviation industry in Viet Nam tickets is not absolutely exploited
 Has the largest number of market  Competitive market
share in Viet Nam  Business Class witness a lower
 Rich-experienced staffs and proportion then the average level of
comprehensive structure IATA
 The improvement in connection of
routes between Vietnam and other
areas
 Focus on training and developing
employees
Oppotunities Threats
 The increase in the number of  Futrue competitor
passengers who travel to Viet Nam  The spread of COVID-19, the economic
 Penetrate the North America’s market is not unstable
 Groud transports still limited
 GDP increase 6% per year

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First of all, the strength factors in Vietnam Airline is the most reliable choice of airlines in
Vietnam. Besides the longest history, VNA is also has the most stable airline with the high-
quality service and modern technology. These elements are a part of reasons which make people
choose VNA as the most ideal transport and help VNA is one of the top 10 Well-known Brands
Vietnam in 2019 (VNA Annual Report, 2019). Secondly, as the statistic were referred in the
above part, VNA make up the biggest percentage in the market share, as it has an important
influence on the price of the airline aviation. Moreover, to provide the best service, VNA always
concentrates on the quality of the organization structure, including the employee, the crucial
factor because they directly communicate to clients. Other reason is that the performance of
staffs can affect the productivity of the company so that VNA has trained and aimed to the best
quality of staff among all competitors of airline market. Finally, customers can obviously
confirm that VNA has created the best overseas flight. Some nations even only have the
connection routes with Vietnam through VNA such as France. This character attracts a large
figure of attentions and help VNA raise the number of clients.
As a business, Vietnam Airline has both strengths and weaknesses. When people analyse about
the operation of this company, it is clearly seen that VNA has not completely exploited when
they activate the online service. Selling online tickets help customers to save time and is one of
the methods to raise the profit. Meanwhile, VNA has not still made use of this manner as the
percentage of selling tickets online only made up 6.3% of total revenue (vietnamairline.com).
Secondly, although VNA is a great choice in general, it causes difficulties for some people to
afford. Having set the highest price in the airline aviation, VNA made itself a week competitor in
the race of cheap price. Then, to deal with this problem, VNA combined with Jetstar Pacific as a
partner to meet the demand of people who have the lower budget. Finally, according to the
conclusion of the conference “Change with the world” in August 2019, it was showed that the
proportion of Business Class of VNA was lower than the average level that IATA referred
before. This has required VNA to have efficient solutions to attract more potential customers and
increase the revenue of the company.
With the development of Vietnam Airline, the companies can has some following opportunities
in the future. First of all is the increase of passengers. In more details, this change is predicted to
be in the number of visitors to Vietnam. One of the reasons can be caused from the development
of Vietnam in different fields like economy, politic, culture and especially recently, Vietnam
successfully prevent Covid-19 from spreading in society. Moreover, VNA can be the first choice

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of foreigners when they first travel to Vietnam due to its reputation. The second prediction is that
VNA would have chances to penetrate North America’s market. If the company succeed in
implementing this, it will a massive step of the aviation. And lastly, about finance, VNA’s GDP
is looked forward to increasing by 6% in comparison with the previous year (Duong, 2020).
In contrary of opportunities is the threats, which is about bad things happening in the future. To
Vietnam Airline, there are two main threats being obviously forecasted. Although airline is an
oligopoly market, where new companies are supposed to have to suffer a constant pressure in the
race with old members, it is possible that in the future, many new competitors would appear and
create a higher quality with more reasonable price. This can lead to lots of risks in the
development of VNA. Especially, recently, COVD-19 has not completely ended so the economy
has not been stable yet. As a result, it will cause difficulties for all companies generally and
VNA in particular. To deal with the predicted risks and succeed in achieve goals, VNA should
make conferences to have the best co-ordination between managers and staffs to seek efficient
solutions.

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III. Conclusion:
In brief, this report is made with the purpose of clarifying both the risk of other opponents and
the positive effect of clients as well as supporters of Vietnam Airline. Moreover, PESTLE
method is applied to analysis exterior elements in the effect on the development of VNA in a
period of time from past until the future. Through the connection and the mutual effect between
factors inside and outside the enterprise, VNA should recognize all the opportunities and threats
to seek out the most solutions for the plans in the future.

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