ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

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

Submission date 8/12/2021 Date received (1st submission)

Re-submission date Date received (2nd submission)

Student name Nguyen Thai Bao Student ID GBH200086

Class GBH0906 Assessor name Nguyen Thuy Linh

Student declaration

I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I
understand that making a false declaration is a form of malpractice.

Student’s signature: Nguyen Thai Bao.

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Contents
Introduction ............................................................................................................................................. 4

Strategic Capabilities Analysis ............................................................................................................. 4

Benchmarking: VinFast vs Ford ........................................................................................................... 4

Number of sales................................................................................................................................... 5

Product performance .......................................................................................................................... 5

Price ..................................................................................................................................................... 6

Value Chain Analysis ............................................................................................................................. 6

Primary Activities ............................................................................................................................... 7

Support Activities ................................................................................................................................ 9

VRIO Framework ................................................................................................................................... 11

Excellent service and policies ............................................................................................................. 12

Brand value .......................................................................................................................................... 12

Technological application ................................................................................................................... 12

Strengths and Weaknesses.................................................................................................................. 13

Strengths .............................................................................................................................................. 13

Weaknesses .......................................................................................................................................... 14

Conclusion .............................................................................................................................................. 14

References .............................................................................................................................................. 15
Introduction
The internal environment of a company is a factor that contributes to the company's vitality and strength
in the business environment, respectively. Regarding Internal Environmental Analysis, it is a method of
investigating what is unique to the business in order to discover strengths and weaknesses, therefore
laying the groundwork for building and conducting a full evaluation of the elements that influence the
organization's performance. The internal aspects of VinFast will be discussed in more detail in this study.
In particular, this report is divided into three sections: the first section is devoted to Strategic Capabilities
Analysis, which will examine Benchmarking, Value Chain, and Activity System; the second section is
devoted to Capabilities Evaluation, which will employ the VRIO framework; and the third section is
devoted to the evaluation of VinFast's Strengths and Weaknesses.

Strategic Capabilities Analysis

The following is the definition of an organization's strategic capabilities. Strategic capacity is defined by
Johnson et al. (2017) as a firm's physical and people resources, skills, and talents that enable it to
compete. Resources and competences make up strategic capabilities. Resources are assets that
companies may employ (from partners or suppliers (Johnson, et al., 2017). Competencies are the
techniques for effectively using or deploying such assets (Lenz, 1980).

Physical, financial, and human resources define an enterprise's strategic capabilities. Resources are
physical assets while competencies are intangible assets. Those are indicators of the interior
environment. The aforesaid resources are well utilized and deliver several advantages to the company
(Klein, et al., 2013).

Benchmarking: VinFast vs Ford

In a statement published on February 17, 2021, Ford said that its objective is for all of its passenger cars
in Europe to have zero emissions, operate on electricity or gasoline hybrid, and be all-electric by 2030
(Viet Nam Plus, 2021). Tesla, which is also known for its electricity products, only provides cars in the US
market. Unlike Tesla, Ford distributes its products widely, almost all over the world. This means that
soon or later, Ford will distribute its hybrid technology to every country that Ford appears, including Viet
Nam.

It is also known that through this year's Los Angeles Auto Show, VinFast has introduced to the US market
with two electric car models VF e35 and VF e36. Recently, billionaire Pham Nhat Vuong's VinGroup
suggested to the government a five-year trial program to exclude electric automobiles from special
consumption tax and registration fees. This shows that VinFast has an ambition to sell electricity cars in
the Viet Nam market (VinGroup, 2021).

This made Ford a competitor of VinFast.

The table below shows some financial data that can be used in the benchmarking session between
VinFast and Ford.

VinFast Ford

Sales (cars) 31.500 24.660

Profit (billion dong) 4231 Not published

Figure 1. Some financial comparison between VinFast and Ford in 2020 (Son, 2021) (Hai, 2021).

Number of sales
Ford Vietnam, founded in 1995, is a joint venture between Ford Motor Corporation in Michigan, USA,
and Song Cong Diesel Company (Ford Thu Duc, 2018), which means Ford has been in the Viet Nam
industry for 26 years. On the other hand, VinFast was founded in 2017, which means VinFast has only
entered the market for 4 years (VinFast, 2017). However, as can be seen above, the number of sales of
VinFast in 2020 is significantly higher than that of Ford.

Product performance
In 2020, a number of Ford Ranger owners reported that their vehicle experienced issues when stuck in
traffic. According to car owners, they all had a problem with the transmission oil pump gears being
broken while in operation. Mr. Dung of Quang Ninh, who owns a 14C 271.78 Ranger Wildtrak version,
informed Lao Dong reporter that on June 21 2020, he was driving at 80km/h when the engine suddenly
screamed quite loudly. The engine speed had reached 4000v/min at the moment, and the automobile
began to drift freely; the Taplo meter also displayed an error. However, Ford affirmed that there were
no safety issues, including no chance of fire, based on meticulous engineering judgment (Lao Dong,
2020).

About VinFast, aside from the "Vietnamese brand automobile" branding, the design attracts car buyers
like Le Anh. “The Lux A2.0 is stylistically superior than premium vehicles from Europe.” - Le Anh. The
baggage compartment of the VinFast Lux A2.0 is fairly big and has storage sections. Many goods, luggage
and golf bags may be held. Electric chairs, large cushions, and soft leather add to the user's comfort.
Most automobile owners enjoy VinFast Lux A2.0 for its soundproofing. But, according to Le Anh and
many VinFast Lux A2.0 owners, the design perfection of VinFast automobiles is not great. Moreover, the
baggage compartment prioritizes the second row area on VinFast Lux A2.0. The plastic used on the door
trim, cup holder, gear lever or interior decorative plastic is easily scratched (Cuong, 2020).

Price
The prices of VinFast’s products range from about 500 million dong to 4.5 billion dong, which is the price
range of 5 different product segments (VnExpress, 2021). On the other hand, the prices of Ford’s
products range from about 600 million dong to 2 billion dong, which is the price range of 3 different
product segments (Ford Viet Nam, 2020).

Value Chain Analysis

Value chain analysis is the process of identifying and evaluating key value-added processes to reduce
costs or boost differentiation. The value chain illustrates the internal processes a business must take to
convert inputs into outputs (Porter, 2004). A value chain is a business model that defines all steps
required to create a product or service. From design through distribution, the value chain comprises
metrics for businesses producing goods, such as raw material acquisition, manufacturing processes, and
marketing (Fearne, et al., 2012).
To examine a company's internal activities, value chain analysis is employed. Its purpose is to identify
the most valued operations (cost advantage or differential advantage) and those that may be enhanced
to create a competitive advantage. That is, internal activities disclose a company's competitive
advantage or disadvantage. To generate products and services, a company's internal value chain reflects
all of its operations. The value chain is made up of important operations that directly and indirectly
provide value to the final product (Porter, 2004).

The value chain has five major activities and four supporting activities. In this section, five key value chain
operations are discussed, shown, and implemented directly on VinFast.

Figure 2. Value chain model (Dubey, et al., 2020).

Primary Activities
Inbound logistics
An automobile and electric motorcycle manufacturing plant called VinFast was inaugurated in Cat Hai, a
district of Hai Phong on September 2, 2017. The car factory, in particular, is the world's most expansive
and technologically advanced facility, having been designed for the Industry 4.0 paradigm. At a
manufacturing rate of 38 cars per hour, the factory's design capacity in Phase 1 is 250,000 automobiles
per year; in Phase 2, that capacity increases to 500,000 vehicles per year. With the factory's six
workshops (staining, body welding, painting, engine, and auxiliary workshop), the manufacturing process
is coordinated and closed, resulting in a seamless connection and automation. Siemens and SAP have
delivered thousands of robots and sophisticated industrial operating systems (Thang & Tran, 2019).

Operations
In the VinFast car assembly plant in Hai Phong, a complex procedure and a team of highly qualified
personnel have reduced production time and brought to market models in a number of industries
(VinGroup, 2021). The VinFast Fadil, VinFast Lux A2.0, VinFast Lux SA2.0, VinFast President, and VinFast
VF e34 are all examples of high-quality products that VinFast invests in and picks from design partners.

The post-production VinFast models will also be submitted to rigorous testing and quality review by well-
known international organizations such as ASEAN NCAP, EURO NCAP, WLTP, and so on (VinGroup, 2021).

Outbound logistics
With GM Group's manufacturing facilities, sales agent system, and customer service, VinFast no longer
has to establish showrooms. On March 15, 2019, VinFast officially replaces the Chevrolet sales agent
system. VinFast has decided to upgrade the dealer's infrastructure and identity. Moreover, VinFast
expanded into a dealer system with two VinFast - Chevrolet brands. This method allows VinFast to save
time, join the market at the right time, and pick locations. Using an established distribution channel also
helps VinFast to reach customers faster, which is effective product promotion (Cuong, 2018).

Marketing
In terms of media, the material on the company's website or on the company's official fanpage is
constantly being updated, and this includes not only information on items for sales purposes, but also
articles about automobiles. In addition, the enormous personnel of the parent firm VinGroup
contributed to this communication effort in a small but significant way (Cong & Phuong, 2018).

In addition, advertisements for VinFast automobiles may be seen in abundance in the elevators of
buildings in both Ho Chi Minh City and Hanoi. Automobile forums on social media platforms, such as
Facebook and Twitter, are now awash with conversations about VinFast automobiles (Cong & Phuong,
2018).

Because VinFast's opening ceremony was conducted in Vietnam, the number of guests was much higher
than the number of attendees at the Paris launch. When compared to the launch event held earlier this
month, which brought together cult figures in the entertainment industry such as former world player
David Beckham and new Miss Vietnam Tran Tieu Vy, the opening event had a more diverse guest lineup,
including representatives from government ministries and agencies as well as popular YouTubers and
other influential entertainment figures in the society (Cong & Phuong, 2018).

Services
Taking a look back at the succession of policies that VinFast has introduced over the years, marketing
expert Le Tho Phu feels that there is always a shadow of former consumers, whether it is appreciation
gifts, a 5-year guarantee, or gift vouchers for new clients. This is an example of how a "blockbuster" 600
billion appreciation to existing customers during a period when "new vehicle company is god," according
to the year-end tradition, can make even the most discerning consumers feel appreciated. In terms of
both respecting existing customers and inspiring the wishes of prospective customers, it can be argued
that VinFast has been quite effective in making people want to acquire a VinFast automobile in order to
take advantage of those benefits (CafeF, 2020).

Support Activities
Infrastructures
To move from centralized management to management by business areas, the Group has promoted
decentralization of administration and management at all levels, with subsidiaries acting as independent
business establishments and profit centers (“P&L”), while the parent company VinGroup – Joint Stock
Company acts as strategy, evaluation, and subsidiary management. This governance model was
developed by synthesizing expertise from prominent consulting companies such as McKinsey, BCG, PwC,
Ernst & Young and tweaking internally to get the best fit model. The P&L governance model will support
the Group's future growth. Moreover, the Group works on digital transformation in management across
all P&Ls to increase governance efficiency and quality, therefore supporting the unifying aim of
streamlining and simplifying management (VinGroup, 2021).

Human Resource Management

Employees are a company's most important resource. VinGroup has created an appealing, professional,
and pleasant working environment by implementing the following human resource policies and regimes:
Regardless of country, age, gender, or credentials, VinGroup cherishes the values generated and
provided by workers. VinGroup seeks professionals that want to work in a dynamic, fast-paced, creative
and successful workplace. It is easy to apply for a job with VinGroup, and the pay is reasonable and based
on each person's ability to contribute. between employer and employee interests VinGroup also focuses
on human resource development via training programs, knowledge enhancement, professional
qualifications, standardized training, employee skill improvement, and training. Employees may
participate in cultural, skill, and professional development programs, as well as obtain useful experience
and develop themselves in various roles. The importance of workers personally educating, mentoring,
and training subordinates has long been highlighted. Seminars with top academics and experts are
conducted routinely to refresh information and expertise for VinGroup members (VinGroup, 2021).

Technology Development
The Group's research institutions and technology firms have fostered world-leading technology
research, development, and application in the last year. The VinGroup's research institutions and
technology firms have been working hard to create fundamental technological solutions for the
company's goods and services. A future solution for self-driving automobiles and smart ecosystems is
predicted to provide the Group breakthrough value (VinGroup, 2021).

VinGroup aims to make VinFast one of the world's leading smart electric vehicle companies, focusing on
electric vehicle research and development, serving the diverse needs of global customers in several
segments (VinGroup, 2021).

VinGroup seeks to optimize the distribution network and after-sales support both at home and abroad.
In particular, VinFast regularly uses new technology to all operations to provide the best customer
experience: O2O sales, AR/VR virtual reality technology in showrooms (VinGroup, 2021).

Procurement
VinFast has won lucrative contracts from BMW to purchase intellectual property rights. As a result, the
corporation has almost mastered its whole manufacturing process. Pininfarina (design), BMW
(technology, engineering, and manufacturing processes), Magna Steyr and AVL (automobile engineering
and consulting), Siemens (factory design, management, and operation), Bosch (automotive components
and technology), and others are among VinFast's suppliers (Nguyen, 2020).
Moreover, according to Thelec, Korean battery manufacturing equipment manufacturers have secured
a big contract to provide production equipment to the 2.5 GWh battery facility of Vietnamese automaker
VinFast. In Hai Phong, VinFast is presently constructing two 200PPM production lines for designing and
producing cylinder battery cells (Anh, 2021).

Wonik PNE, a solution provider for battery development systems, and TSI, a whole solution provider for
secondary battery production, recently signed two agreements totaling 32 billion won. and 11 billion
won to furnish VinFast with equipment. Furthermore, Koem, Partech, and PNT are discussing a deal with
VinFast. They are quite likely to get orders (Anh, 2021).

As can be seen, VinFast has these strategic capabilities, which can be name as: Excellent service and
purchase policies, Brand value, and Technological application.

VRIO Framework
The VRIO model is used to assess an organization's internal resources and capabilities for competitive
advantage. For example, money, resources, human resources, physical and immaterial resources such
as all market information and industry expertise are assessed using the VRIO model. Value, uncommon,
emulate and arrange (Bigelow & Barney, 2020).

VinFast's VRIO framework is built on three resources that might be assessed using the VRIO framework:
Excellent service and purchase policies, Brand value, and Technological application.
 Organizational
Strategic capabilities Value Rarity Inimitability Strategic implications
support
Excellent service and Sustainable
Yes Yes Yes Yes
purchase policies competitive advantage

Brand value Yes No No Yes Competitive parity

Technological Temporary
Yes Yes No Yes
application competitive advantage
Figure 3. VRIO analysis of VinFast.

Excellent service and policies

VinFast has provided its customers excellent service and policies as a way to show gratitude towards its
customers. The difference in the way VinFast treats its customers is that VinFast does not distinguish old
customers - new. This makes old customers feel appreciated, because the long-standing market practice
is "buying off and selling off", not many car companies often give gratitude gifts to customers who have
bought cars all year like VinFast. This is not easy for competitors to imitate this strategy, since VinFast
already has its background as a subsidiary of VinGroup, so VinFast can use the resources provided by
VinGroup as gifts to tribute its customers (Giang, 2020).

Brand value
VinFast has actively constructed an own value chain and swiftly filled it with the world's top brands,
unlike many automotive production ventures that start from a stage in an existing value chain. To put it
another way: "Vietnam already has a company with enough posture and capacity to actively construct
and lead a global value chain with the companionship of the world's top brands", Dr. Vu Dinh Anh
confirmed. In Vietnam, VinFast is a symbol of national pride because it is a unique Vienamese automobile
brand (Trang, 2018).

Technological application
VinFast, in particular, is the first automotive factory in Vietnam that has mastered the core phases and
is capable of producing the major components of a vehicle, such as the bodywork, engine, and
transmission, etc. In addition to the capacity to self-stamp, VinFast has solidified its position as an
independent automobile manufacturer with the addition of huge panels and the capacity to process and
produce engines on-site in accordance with European high-quality requirements (Le, 2019).

Strengths and Weaknesses

Obviously, SWOT analysis is an important factor in developing an enterprise's business strategy, when
strengths and weaknesses are viewed as two internal factors in a business. All of those two factors are
shown in the things mentioned in turn below.

Strengths
Clear, consistent, strong, pervasive and influential corporate culture
Work ethic and dedication helped VinFast beat the timeline by 3 months, creating a new miracle in the
global car industry. For the first time, a vehicle plant built, installed, and started production in under 21
months. Previously, VinFast achieved global records for progress by opening an electric motorbike plant
and developing three automobile models in 12 months. VinFast has received over 10,000 automobile
orders before the official debut and would handle the delivery of the first cars. Leading multinational
automotive manufacturers such as BMW, Magna, AVL, Bosch, Siemens... participate as components in
VinFast's Vietnamese value chain. In other terms, the VinFast facility signified the transition from hired
to owned. With the opening of the VinFast facility, Vietnam has officially become a global car industry
player (Le, 2019).

Support from the parent company – VinGroup

As mentioned above, VinFast uses resources from its parent company – VinGroup – as gratitude gifts for
its customers. Thus, in the future, a high probability that VinFast’s products will be integrated with
software from Vintech’s charge of development. This shows that VinFast has supports from its parent
company and other subsidiaries from the same group. This also means that VinFast has already got its
reputation as an automobile brand from a leading group in Viet Nam, makes it easier for VinFast to enter
any new market (VinGroup, 2021).
Weaknesses
The firm is relatively new and relies on consumer trust
Undeniably, VinFast is still a very young and immature organization. With only 3-4 years of experience,
it is hard to compare the quality of the firm’s products to other mature brand’s products. Moreover,
having the reputation of being a brand from VinGroup, this automatically helps VinFast gain trust from
people in Viet Nam, resulting in more than 10,000 orders before the official launching. This however
creates a drawback for VinFast, since only one mistake can deconstruct the already-existing reputation
of the brand, which will be fairly hard to rebuild it.

Working in a high-pressure and competitive atmosphere is challenging

VinFast is a new firm in the automobile manufacturing industry, and as a result, there is a great deal of
pressure on inefficient personnel. Working at VinFast necessitates proactive learning on the part of
interns and new employees. Because of the high workload and the highly regimented workplace, new
workers, who need time to get acclimated to the real world, are likely to experience great strain during
their first few working days on the job.

Conclusion
The strengths of VinFast as compared to rivals in the same sector have been discovered via the above-
mentioned research, which was created using a benchmarking methodology. Furthermore, it has
contributed to the rise in the value of vehicle goods via the use of the value chain model. Finally, the
VRIO framework has aided in the evaluation of critical resources across the business process of VinFast,
allowing the company to recognize its own strengths and weaknesses as well as the challenges it is now
experiencing.
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