TMC Academy

POST GRADUATE DIPLOMA IN MANAGEMENT AND

LEADERSHIP
Assignment Cover Sheet

NAME OF STUDENT Le Huong Ly

ASSIGNMENT ISSUE DATE 17 March 2024

MODULE CODE BMG708

UNIT TITLE Strategic Planning and Implementation

ASSIGNMENT TITLE Strategic Planning and Implementation

ASSIGNMENT NO 1

NAME OF ASSESSOR Daniel Vanhoutte

SUBMISSION DEADLINE 08 April 2024

TO BE FILLED BY STUDENTS
Please complete in full all categories neatly before submitting the work for assessment

NUMBER OF PAGES SUBMITTED

ASSESSMENT TITLE (A Copy of the Vina Aecook Vietnam (Aecook)
assessment brief MUST be attached together with
this work)
DATE ASSESSMENT BRIEF IS RECEIVED 17 March 2024
SUBMISSION DATE 08 April 2024

I, Le Huong Ly hereby confirm that this assignment is my own work and not the product of
plagiarism, collusion or other academic irregularity. I have referenced the sources from which
information is obtained by me for this assignment.

……………………………….. …08 April 2024…….

SIGNATURE OF STUDENT DATE

FOR OFFICIAL USE

1
Assignment Received By: Date:

2
TO BE FILLED BY STUDENTS
Please list the evidence submitted for each task. Indicate the page numbers where the evidence.
Can be found or describe the nature of the evidence (e.g. video, illustration).

Task Page Number or

Evidence Submitted
Ref Description
Explain the importance of external factors affecting an
1.1 6
organisation.
Analyse the needs and expectations of stakeholders of an
1.2 6
organisation.
Analyse the major changes taking place in the external
1.3 7
environment.
Use appropriate tools to analyse the effects of current business
2.1 7
plans.
2.2 Review the position of an organisation in its current market. 8
Evaluate the competitive strengths and weaknesses of an
2.3 8
organisation’s current business strategies.
Use modelling tools to develop strategic options for an
3.1 9
organisation.
Develop a comparative understanding of activity from
3.2 9
organisations in the market.
3.3 Create options to form the basis of future organisational strategy. 10
Propose a suitable structure for a strategy plan that ensures
4.1 11
appropriate participation from all stakeholders of an organisation.
Develop criteria for reviewing potential options for a strategy
4.2 11
plan.
Construct an agreed strategy plan that includes resource
4.3 12
implications.
Compare core organisational values (ethical, cultural,
5.1 environmental, social and business) with the current business 13
objectives of an organisation.
Develop appropriate vision and mission statements for an
5.2 14
organisation
Produce agreed future management objectives for an
5.3 14
organisation.
5.4 Develop measures for evaluating a strategy plan. 15
Develop a schedule for implementing a strategy plan in an
6.1 16
organisation.
Create appropriate dissemination processes to gain commitment
6.2 16
from stakeholders in an organisation
6.3 Design monitoring and evaluation systems for the

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 implementation of a strategy plan in an organisation.
Additional comments to the Assessor:

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EXCLUSION:

This report has provided comprehensive strategic analyses of Aecook Vietnam, via effective
strategic planning tools, it has identified external factors at the market levels, industry, and
globalization have brought opportunities to this company. Besides, the report also helps us have
a general view of the form of structure of Aecook Vietnam and the different needs, expectations,
and potential conflicts of stakeholders during the company's operations

Through the use of the SWOT model, there are 3 strategies proposed for Aecook Vietnam, only
the strategy of improving product quality according to the consumer needs of each market is the
most urgent. This strategy is evaluated based on criteria such as consistency, consonance,
feasibility and advantages.

The report also proposes plans to deploy human resources, taking advantage of resource
strengths such as technology and human resources to implement a low-cost strategy. It shows
that Aecook's business goals are suitable with the company's core values, vision, and mission In
addition, the report also provides indicators to seriously evaluate a strategic plan, focus on
effectiveness. Applaying technology to build a strategic plan implementation process to achieve
commitment and satisfaction from stakeholders. An evaluation system for financial and non-
financial aspects that has beed built using a balanced scorecard combined with KPIs and OKPs.

INTRODUCTION:

Nowadays, time is limited due to too much work, so most people don't have much time for
cooking. Therefore, fast food naturally becomes the top choice, but due to the economic and
environmental situation leading to people's income shrinking, many people want to choose cheap
products. Understanding this need, Aecook Vietnam Company is a pioneering foreign
investment company in the market of instant noodle production in Vietnam.

As one of the long-standing reputable noodle manufacturers in the instant noodle market,
Aecook Vietnam has produced famous products, especially cheap Hao Hao instant noodles that
have become so familiar to Vietnamese consumer with many strengths such as good taste,
diversified products. However, besides its image-building success, this type of noodle also has
weaknesses compared to competitors in the market.

This report will provide analyses of aspects of the company's products, markets, and position by
delving into the importance and effect of external factors and the company's stakeholders. From
that, though analytical tools can be realized competitive advantages for the company. The next
step, based on these competitive advantages, the report will propose plans for planning and
implementing comprehensive strategies for this product line in the future, and highlight the
potential that these strategies bring to the company. This approach will ensure Aecook's strategic
success in the domestic and foreign instant noodle market.

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DISCUSSION:

Task 1.1: Explain the importance of external factors affecting an organization.

External environmental factors are uncontrollable and they can directly or indirectly affect
customers' shopping behavior and business conditions of Aecook Vietnam. This report will
mainly focus on the economic aspects of the globalized, industrial market environment.

Market level: According to data from Economic Life 2021, Acecook Vietnam along with
Masan Consumer, Uniben, and Asia Foods were the four brands that occupied the market,
holding nearly 88% of output and 84% of revenue. In particular, Acecook maintained the leading
position in the market and kept a long distance compared to the remaining businesses, with
35.4% in output and 36% in revenue. Therefore, it was not surprising that Acecook's business
result was superior to other businesses in the same industry. In 2019, Acecook held the top
position, recording a huge net revenue of 10,648 billion VND, and a net profit of 1,660 billion
VND. Asia Foods and factories belonging to the system achieved total revenue of 5,454 billion
VND (holding second place), while Masan Consumer earned 4,968 billion VND from the noodle
segment. Thus, the combined revenue of Asia Foods and Masan Consumer's noodle segment has
not kept up with Acecook.

Globalization: In 2020 and 2021, in the context of the COVID-19 pandemic, developments
were extremely complicated and showed no signs of stopping, Acecook's business situation in
these two years is a "bumper" year off "giant" of the instant noodle industry. with great market
demand and restrictions on going out as well as food restrictions, instant noodles have become
the top choice because of their speed and convenience during the epidemic season. According to
information from the Vietnam Retailers Association, the rate of increase in instant noodle
consumption in the context of COVID-19 was 67%. Specifically, in March 2022, Acecook's
revenue increased by 29% over the same period last year and increased by 10% compared to
February 2022. During the COVID-19 outbreak, this enterprise produced 400,000 - 450,000
boxes of products every day, equivalent to 12 million - 13 million packages.

Task 1.2: Analyze the needs and expectations of stakeholders of an organization.

According to Cafebusiness's 2021 report, Aecook Vietnam has 3 main shareholders including
Acecook Co., Ltd owned 56.64%, acting as the parent company; Marubeni Foods Investment
Asia Cooperatie F U.A holds 18.296%; and Mr. Hoang Cao Tri holds the remaining 25.064%
shares. All 3 main shareholders had a common desire to grow the company's revenue, market
share, and profits.

Stakeholders in a company Appendix 2 may have different goals and interests, leading to
conflict when they compete for resources or when decisions do not align with the goals of a
certain stakeholder. For example, if Acecook Vietnam plans to expand a new production factory
in Binh Duong, Vietnam. While management expects to use a large portion of the company's

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profits to fund this project, employees oppose this plan because they want the company to use
profits to increase wages and improve working conditions
Therefore, Aecook needs to balance these different needs and expectations by ensuring that its
strategies bring financial returns to shareholders but also bring benefits to stakeholders in the
company's operations.

Task 1.3: Analyse the major changes taking place in the external environment that will
affect strategy
Based on the EFE matrix presented in Appendix 3, the weighted score is 3.05 (compared to the
average of 2.5). This shows that Vina Aecook's ability to respond to opportunities and threats
from the external environment is relatively high, especially responding quickly to both domestic
and foreign competitors such as Masan, Vifon, Uniben, Indofood, Asia Food, and so on.
In conditions where consumers' living standards are declining due to the impact of the Russia-
Ukraine war, it has disrupted the opportunity for economic recovery for many countries,
including Vietnam. This leads to a sharp drop in commodity prices and serious disruption in the
supply chain, causing a decline in prices and inflation of goods and services. According to
Forbes Vietnam, in 2023, consumers can change their shopping habits, prioritizing essential
products at reasonable prices. Aecook clearly understood this trend, the company has applied
advanced techniques to optimize the production process, thereby helping to reduce labor costs
and save production costs. Therefore, the company determined to maintain the price of Hao Hao
noodles to meet demand and support consumers in difficult economic times. From this decision,
Aecook has built a friendly, approachable, and socially responsible brand image, and built the
trust of consumers.
Task 2.1: Use appropriate tools to analyze the effects of current business plans.
The SWOT analysis model is a useful tool to help businesses evaluate their current situation and
determine their competitive advantage and the threats that need to be resolved. Thanks to that,
appropriate strategic plans can be made and potential risks can be avoided. This helps enhance
competitiveness and sustainable development for businesses. To take full advantage of the potential of
Aecook's SWOT model (Appendix 4), we need to combine factors to come up with specific strategies:

Strategic plan No.1 ( S1, S2, S3, S4, S5 – T1, T2, T3): The instant noodle market is witnessing
the development of healthy, health-friendly products as consumers are becoming more conscious
about their health. Especially after the COVID-19 pandemic, consumers are increasingly
concerned about their own health care. According to a report by Decision Lab and Vero (2022),
46% of Vietnam's Millennials and Z generations believe that COVID-19 is the leading factor
causing them to reconsider their eating habits. 45% of consumers say that they lack time to cook
and prepare healthy foods. This pushes F&B brands to offer healthy food options that are easy to
consume and require less preparation time. Therefore, today's consumer needs are affordable and
convenient but also health-friendly, pushing manufacturers to prioritize creating products that
are good for health and enough nutritious. Therefore, Acecook needs to improve the quality of
instant noodles to meet consumer needs, thereby creating a competitive advantage in the market.
Strategic plan No.2 (S7- T4): Due to the impact of the Russia-Ukraine War, production
activities were negatively affected by supply disruptions and increased prices of fuel and input

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materials for production. Input material prices were increased, affecting domestic supply and
purchasing power and increasing businesses' production capital costs. Therefore, Aecook can
invest in a self-sufficient scale of input materials so that it does not depend much on suppliers.
Strategic plan No.3 (O1, O2, O3 – S5, S6): Competitors such as Masan and international
brands may be increasing their power, potentially creating innovations in products and
advertising strategies. This poses a challenge for Acecook to maintain and strengthen its position
in this competitive market. Therefore, based on its strengths such as a strong brand, effective
R&D, and standard production process,... Aecook needs to strengthen marketing and sales to
promote products to consumers, especially in rural areas and developing countries. This helps
the company maintain its leading position in the Vietnamese market and grow in foreign
markets.
Task 2.2: Reflect upon the position of an organization in its current market.
Ansoff.
Ansoff matrix is a useful tool that helps businesses analyze, plan, and implement different
strategies for growth and assess the level of risk associated with each strategy. This matrix
focuses on two aspects: product and market. For Aecook Vietnam, the company is currently
implementing two strategies at the same time for Hao Hao instant noodles: market penetration
and market development strategies, specifically:
Market Penetration: For the domestic market, Hao Hao noodles have been the best-selling
instant noodle product in Vietnam for many years. Specifically, in 2021, the company sold 30
billion packages of Hao Hao noodles through different distribution channels, equivalent to an
average consumption of 1.4 billion packages/year, thereby bringing in excess revenue for
Aecook (according to CafeF in 2022). Overall, this strategy helps the company increase market
share, increase revenue, and maintain its leading position in the domestic market.
Market Development: A many other food manufacturing companies, Aecook also wishes to
achieve market development by continuing to expand its global scale. Consumers can buy Hao
Hao instant noodles in more than 47 countries and territories around the world. For example,
Acecook Vietnam has exported two main products to Japan ( Pho and Hao Hao noodles).
Notably, the company's packaged Hao Hao noodles product is always sold very well at the
annual cultural exchange - Vietnam Festival (according to new General Director of Acecook
Vietnam Kaneda Hiroki 2023). However, the new market development strategy is highly risky,
because international standards and each country are different, requiring Aecook to clearly
understand the laws and food standards in each market to export suitable products.
Task 2.3: Critically assess the competitive strengths and weaknesses of an organization’s
current business strategies.
According to Michael Poter, a value chain is the series of activities of a company in a specific
industry. The product passes through all activities of the chain in sequence and at each activity
contributes to the creation of some value to gain a competitive advantage.
Specifically, for a food manufacturing company like Aecook, the source of input materials is
extremely important. However, the supply of raw materials to produce instant noodles in
Vietnam is limited because Vietnam is not a country. produce input materials such as wheat,
flour, and so on. In addition to the giant demand for input materials and requirements for food

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safety and hygiene inspection and certification according to regulations of the Ministry of Health
of Vietnam and the world. So, there are some few Vietnamese enterprises that are qualified to
work as Aecook's suppliers. Therefore, Aecook's current weakness in the value chain is that it
cannot be autonomous in its input material sources and must depend on suppliers (according to
Aecook Vietnam).
Next, marketing and sales activities are crucial and necessary activities that help Aecook create a
strong brand image in the minds of consumers. For example, in the market penetration
promotion strategy, one of Acecook's most successful campaigns is "From Vietnam to the
world" with the combination of the U23 Vietnam team. Taking advantage of the 2018 football
storm, Acecook's Marketing strategy has continuously launched 6 TVCs "From Vietnam to the
World" from mid-2018 to early 2019. This campaign has aroused national pride and self-respect in
Vietnamese, from which Acecook's brand image has spread widely. The results were that the
recognition level of Acecook products often fluctuates above 80%. In particular, the Hao Hao brand
has almost 100% coverage and was considered the national instant noodle brand in Vietnam
(According to Ego Express 2022).
Task 3.1: Use modeling tools to develop strategic options for an organization.
From the three strategic options drawn from task 2.1, strategic Plans 1 and 2 are chosen because
of their urgency in the current industry market. The third option is currently being implemented
effectively by the company (according to CafeF 2022). Currently, to meet consumer tastes and
minimize operating costs, this report prioritizes the use of strategic plans 1 and 2.
Based on the QSPM results in Appendix 5, the strategy score for improving product quality is
5.2 and higher than the strategy for building a self-sufficient scale of input materials, which is
4.1. Therefore, Aecook should prioritize developing strategies to improve product quality to take
advantage of strengths and opportunities to penetrate and develop the market in the future. This
strategic orientation is consistent with the core values, vision, and mission of always focusing on
consumer health of Mr. Kajiwara Junichi, General Director of Acecook. This approach ensures
that they are moving forward in a way that is consistent with stakeholder expectations.

Task 3.2: Develop a comparative understanding of activity from organizations in the

market.

According to WINA 2021 statistics, in recent years, Vietnam ranked third in the world in instant
noodle consumption with output growing steadily. Besides Acecook company, there are also the
participation of Masan Consumer (part of Masan Group) and Asia Foods. Among them, Masan
Consumer is most famous for its noodle brands "Omachi" and "Kokomi", while AsiaFoods has
"Hao Hang" and " red bear" which have made their name in nearly ten years. Comparisons can

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be drawn from the SWOT analysis of Masan consumers and Asia Food in Appendix6.

First is Asia Food, this company focuses on the popular product segment and has launched "Hao
Hang" instant noodles. Advertising Hao Hang noodles on TV with a name similar to Hao Hao,
packaging designed similar to Hao Hao instant noodle brand, and a cheaper price than Hao Hao.
This has confused consumers between the two products and has directly affected Aecook's
revenue during the period from 2006 to 2015. By April 2015. he company had to stop production
because this type of noodle violated Aecook's trademark copyright, thereby worsening Asia
Food's image in the eyes of consumers. In addition, due to the loss of its key product in the
instant noodle market, Asia Food's market share is further narrowed, reaching only 8% in 2021
thanks to its key product, Red Bear instant noodles.

Next, in contrast to Asia Food, Masan took advantage of its two famous high-end brands,
Omachi and Chinsu, which were well known, and then launched two new products, Omachi
instant noodles and Chinsu instant noodles with salmon sauce. In addition, Masan also invested
heavily in advertising these two types of noodles to change consumer habits to use noodles made
from natural foods, safe for health, and avoiding harmful substances from cheap noodles that are
dangerous to consumers. Thanks to the strong marketing strategy, as a result, according to Retail
Data statistics (2021), Masan Consumer's market share ranks 2nd at 27.9%, this figure is only
behind Aecook Vietnam at 35.4%.

Task 3.3: Create options to form the basis of future organizational strategy.

In a positive case, if the strengths and opportunities are stable, instant noodle consumption
demand will continue to grow, and Aecook has enough ability to successfully dominate the
domestic market and develop in the new market. In foreign markets dedicated to cheap instant

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noodle products Hao Hao, Aecook's growth rate can reach 5% -10% per year (according to
Forbes Vietnam 2022). In addition, Aecook pays great attention to investing in the R&D
department. When consumer needs change and they are interested in quality, convenient, and
healthy products, the R&D department also helps Aecook research. and develop products that
suit consumer needs and tastes, thereby helping the company develop sustainably and maintain
competitive advantage and long-term growth.

Next, according to the Vietnam Import-Export Report 2022, the Industry and Trade sector, under
the direct direction of the Government and Prime Minister, has focused on synchronously,
drastically, and flexibly implementing solutions. Removing difficulties for manufacturing and
exporting enterprises, diversifying export and import markets, and promoting trade. Thanks to
the Government's supportive policies, Vietnam's instant noodle export industry will have
stronger developments. It is expected that in the future, Vietnam's instant noodle industry will
continue to develop and affirm its position in the international market.

4.1: Propose a suitable structure for a strategy plan that ensures appropriate participation
from all stakeholders of an organisation.

Aecook Vietnam is currently applying a common functional structure in Vietnam, this structure
is functional from top to bottom with division into relatively independent departments to
perform certain activities. Aecook's structure is shown clearly in Appendix 8.

At Aecook Vietnam, instead of grouping everyone working on the same project together, people
are grouped according to their common work areas such as marketing, finance, operations,
customer service, and so on. By bringing together people with similar job skills, they can help
each other and learn from each other's expertise. From there, helping them achieve high
efficiency and productivity, the company can also reduce training costs and increase work
performance.

However, in a functional structure, employees' roles are static and they must report work results
to department managers (key players) after to shareholders (key players). So for example, when
managers have leadership styles such as authoritarian, they often make a decision quickly and
without consulting employees, which can cause conflicts between the two sides. The solution in
this case is that managers need to respect and listen to employees' opinions and clearly explain
their decisions. Besides, employees also need to try to demonstrate their abilities, so that
managers can trust them and change their leadership style in management.

4.2: Develop criteria for reviewing potential options for a strategy plan.

Based on the opportunities the instant noodle industry brings. Company need to develop criteria
to consider the potential for future strategic planning to bring success to the company. There are
4 criteria that need to be considered:

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Consistency: Aecook Vietnam's mission is to become a supplier of high-quality products and
services, bringing HEALTH - SAFETY - PEACE OF MIND to customers. However, in 2021,
Aecook's Hao Hao instant noodles were recalled due to containing 2-chloroethanol exceeding
the allowable threshold according to EU regulations (according to the Food Safety Authority of
Ireland (FSAI)). Therefore, to ensure consistency between food safety goals and policies,
Aecook should build a food safety management system according to international standards such
as ISO 22000, and HACCP. The food safety management system will help Aecook effectively
control all stages of the food production and trading process, ensuring safety for consumers both
domestically and internationally. In addition, Aecook also needs to regularly monitor and update
changes in foreign food safety regulations to ensure that its policies are always consistent with
the laws and policies.

Consonance: For markets in some Southeast Asian countries such as Vietnam, Laos, Thailand,
and Cambodia, Aecook needs to learn about the tastes of consumers in these countries. Most of
the time, they often use sour and very spicy foods. Therefore, Aecook's spicy and sour Hao Hao
instant noodles product is completely suitable for consumer preferences in these countries.

Feasibility: According to Forbes Vietnam 2021, in the Southeast Asian market, Aecook has
enough budget to build a production factory in this area, largely because the company's after-tax
profit has grown steadily by about 8.2%/year in recent years. Therefore, the company can
implement a strategy to improve product quality thanks to these factory's advanced technology.

Advantage: When Aecook optimizes distribution and logistics costs to ensure competitive
product prices. Aecook can use efficient transportation methods and negotiate with reputable
partners to minimize costs in the contract. Reasonable costs help Aecook increase profits and
compete effectively in domestic and international markets.

4.3: Construct an agreed strategy plan that includes resource implications

Finance issues: According to Euromonitor's report 2022, Acecook's products account for an
overwhelming proportion in Vietnamese kitchens, this company holds a market share of about
50% in urban areas and 43% nationwide if including rural areas. According to Vietdata,
Acecook's revenue grew by an average of 8.2% in the period 2017–2020. In 2020, the company's
net revenue reached 11,531 billion VND, and profit after tax was 1,892 billion VND. In 2021,
Acecook ranked 114th on VNR500's list of the 500 largest companies in Vietnam with an
estimated revenue of over 12 trillion VND. Therefore, Aecook completely has enough budget to
implement the strategy of improving its produtct.

Human resource: According to Anphabe's announcement in 2024, Acecook is a company

named in the Top 15 Typical Enterprises with Happy Human Resources 2023 in the Large
Enterprise Sector and Top 50 Attractive Employer Brands for Students in 2023. Currently,
Acecook Vietnam currently has nearly 6,000 employees working in office and production
groups. Acecook has many good human resources policies to attract and retain employees. For
instance, Enterprises always care about the longevity and development of employees, creating a

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good working environment and many development opportunities. Therefore, Acecook has built a
team of staff, especially the R&D team, to always research and produce products that suit
consumers' needs. Human resources are very crucial contributing to implementing company
strategies.

Technology: According to the 2021 Facts & Factors report, the giant of the instant noodle
industry - Acecook owns one of the 11 largest instant noodle manufacturers in Asia.
Anticipating the increased demand for noodles, for many years now, Acecook Vietnam has
continuously invested millions of USD to build factories and equipment to boost its production
capacity. According to Dan Tri newspaper in 2021, factory modernity is reflected in the level of
automation of nearly 90%, minimizing human participation. Thanks to that, a factory line can
produce about 600 packages of noodles per minute. Thanks to technological factors, Aecook can
meet consumer needs, reduce production costs, and compete with competitors in the market.

Supply chain and logistic: Acecook is one of the earliest companies to participate in the instant
noodle market in Vietnam. So it is not difficult to understand that the company is one of the
leading brands in consuming products of this type. The company's products have a coverage of
more than 95% of retail points nationwide, and the recognition level of Acecook products ranges
from 80 - 100%. Therefore, thanks to this system, Acecook can bring products to consumers
quickly, save costs, and ensure high quality.

5.1: Critically evaluate the core organisational values (ethical, cultural, environmental,
social and business) with the current business objectives of an organisation.
Business ethics: Acecook was selected into the top 100 "Sustainable Enterprises 2023" thanks to
pursuing the value "Cook Happiness: Happy Customers, Happy Employees, Happy Society".
Since the first days of entering the market, Acecook has always proactively created changes.
Determined to always comply with the principle of quality assurance using Japanese technology,
Acecook has accompanied suppliers in applying modern technology and instructing skills in
managing domestic raw materials, and so on. Differences in business concepts and initial culture
have been skillfully reconciled, thereby leading to an improvement in quality, food safety and
hygiene, and the value of the entire instant noodle and copper industry. In addition, this company
also contributes to the economy in general by creating stable jobs for more than 6,000 workers.

Ethics culture: According to Kantar World Panel 2022 research, Acecook Vietnam is the most
chosen instant noodle manufacturer by consumers. The results are largely thanks to the business
philosophy "Omoyari - Think for others" that the business has always applied since its inception.
Omoiyari is a concept originating from Japan, meaning to always put yourself in someone else's
position to think and act. It can be seen that this spirit is most clearly applied in the R&D process
when businesses always explore and research to produce quality products, aiming at the peace of
mind and trust of consumers.

Social responsibility: The long-standing philosophy of the entire corporation is "to contribute to
the development of society through the path of "stomach". This enterprise has carried out social
activities regularly each year as a thank you to people. Vietnamese consumers, from happy

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noodle packages given to children in difficult circumstances, to relay scholarships or giving light
to poor people who cannot afford eye treatment. Within 30 years, ppiness from the slogan "Cook
happiness" has spread throughout the country, not only from the noodles but also the feelings
between people.

Environmental suistainability: Following the direction of sustainable development in the

coming time, Acecook Vietnam continues to implement a series of projects for the environment
such as improving products from plastic cups to paper cups, using bio-plastic forks, and
researching new materials. Environmentally friendly packaging materials. In particular,
company employees gradually switched to using environmentally friendly clean energy sources
such as solar energy and clean burning gas, contributing to reducing greenhouse gas emissions
and saving energy.

5.2: Suggest appropriate vision and mission statements with sound reasoning for an
organisation.

On the day the establishment license was granted in 1993, Mr. Kajiwara Junichi, General
Director of Acecook Vietnam, promised two things to the Vietnamese Government. “One is to
improve and develop the processed food industry. Second is to actively export products,
bringing Vietnamese culture to the world.". As a result, during more than 30 years of
association, that promise is always kept, and constantly strive to realize it with the following
goals and vision:

Vision: Becoming a leading food production enterprise in Vietnam but also around the world,
with enough management capacity to adapt to the globalization process. This is shown through
the way Aecook always strives to implement two strategies: market development and market
penetration.

Mission: Mr. Kajiwara Junichi also expressed Acecook's business motto of creating "Japanese
quality" products, so from product research and development, attention has been paid to the
careful selection of input materials and control quality during the production process and the
distribution stage after the goods leave the warehouse and are brought to distribution agents.
Therefore, the company's mission is briefly expressed through the slogan "Providing high-
quality products/services that bring HEALTH - SAFETY - PEACE OF MIND to customers".

5.3: Produce agreed future management objectives for an organisation.

According to Fred David, management goals are specific results that an organization wishes to
achieve within a certain period. Management goals play an important role in orienting,
promoting, and evaluating organizational performance. Based on Aecook's market penetration
and market development strategy at present, the company's future management goals are as
follows:

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Regarding the domestic market penetration strategy, Aecook's goal is to continue to dominate
the instant noodle market share in the Vietnamese market. By implementing effective strategies
such as improving product quality. Thanks to this, Acecook can continue to maintain its leading
position in the instant noodle market in Vietnam and enhance competitiveness in an increasingly
harsh and challenging business environment.

For the foreign market development strategy, the company aims to increase the proportion of
export revenue from 8% to 20% in the coming years (according to Kajiwara - general director of
Aecook Vietnam in 2017). In addition, the company also wants foreign customers to have an
accurate view of the company's products after food safety and hygiene scandals in the EU.

5.4: Develop measures to critically evaluate a strategy plan.

Based on strategic goals, Acecook can build a strategic effectiveness measurement system based
on the Balanced Scorecard (in Task 6.3). The Balanced Scorecard system will help Acecook
comprehensively measure performance, including financial, customer, internal process, and
learning & development aspects. However, in addition to relying on the Balanced Scorecard for
analysis, the company also needs to further evaluate the effectiveness and efficiency of the
strategy, specifically:
Efficiency: Does the strategy support cost maximization and output maximization? It measures
productivity versus cost efficiency, whether the company is allocating resources (financial,
human, product and service quality, technology) to achieve maximum output or not.
Effectiveness: A company can evaluate the effectiveness of a strategy by asking to what extent
the strategy has achieved its goals. If a strategy fails to achieve its initial goals or uses up
additional energy resources, the company must determine where the strategic plan failed and
take action to address and reassess the strategy.
Quality: Does it meet consumer needs? Does the strategy improve financial ratios (market share,
profit margin, debt to equity, revenue growth)? Does the strategy promote strengths and limit
weaknesses of products ? How does strategy influence the performance of marketing and HR
activities?
6.1: Develop a schedule for implementing a strategy plan in an organisation.
Aecook's most potential strategy at the present time is to improve the quality of cheap instant
noodle products Hao Hao. This report will arrange time for the strategy's start to January 2025
and end to December 2030.

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In 2025, the finance and accounting department will calculate and consider the cash flow budget
for project development, at the same time, the research & development department will re-
research food standards in each new market to improve the product better. Then, in the stages of
purchasing input materials, the company needs to establish longer-term contracts with supply
companies, to receive a stable supply source at a cheaper cost after successful price negotiations.
In 2026 and 2028, the production phase will deploy available technologies to improve
operational efficiency and minimize staff costs, along with cheaper input material costs that will
help reduce production costs. significantly reduced.
6.2: Create appropriate dissemination processes to gain commitment from stakeholders in
an organisation.
Regarding the application of functional structure at Aecook, key people in the company play an
important role in resolving conflicts between stakeholders. To gain consensus from stakeholders
and highlight a low-cost strategy, communication is the best solution, as detailed in Appendix
10.
The company can regularly organize seminars for all employees and owners/shareholders to help
them have more opportunities to communicate with each other, understand each other's goals
better, and then all Questions from the parties will be answered clearly and in detail. In addition,
when connecting with each other through seminars, employees will feel more satisfied with their
superiors because they feel respected and listened to. From there, they will contribute more to
the company and work more productively.
6.3: Design robust monitoring and evaluation systems for the implementation of a strategy
plan in an organisation.
The balanced scorecard, KPIs and OKRs have been selected to monitor and evaluate selected
strategies, including analysis of 4 aspects of financial and non-financial goals:
Example for Aecook’s
Perspectives Objectives
KPIs in 2025

Increase the revenue. 10% increase

Finacial Increase net profit. 15% increase
Reduce input costs. 5% decrease
Customer Increase the rate of loyal customers. 80% increase
Increase customer satisfaction; achieve 9/10

16
 Example for Aecook’s
Perspectives Objectives
KPIs in 2025

Business Ensuring 100% of products

processes Improve product quality.
meet quality standards.
Train 100% of employees
Improve human resource.
on professional skills.
Increase the rate of
Learning & Attract qualified people to work. candidates applying for jobs
Growth by 10%.
Create a good and fair environment, policies,
Increase employee
and compensation so that employees can
satisfaction rate to 90%.
work with peace of mind.

CONCLUSION:
Overall, this report has identified the strategy of improving product quality as the most
appropriate and urgent strategic choice of Aecook in the market today. This strategy is consistent
with the company's core values, vision, and mission, while also promoting Aecook's strengths in
advanced technology, human resources, and capabilities. An implementation plan includes a
timeline, stakeholder engagement processes, and a system for monitoring and evaluating aspects
to ensure the effective implementation of the strategy.

However, influences from external factors and the industry environment are always changing
rapidly, requiring Aecook to continuously monitor, control, evaluate, and regularly adjust
strategic plans to match the goals that are set by the company.

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th
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chọn mua nhiều nhất 2021&#8217;,” Tạp chí Kinh tế Sài Gòn, viewed
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APPENDIX 1: Market share of instant noodles industry in Vietnam in 2020.

(Source: Retail data 2021)

APPENDIX 2: Objectives of Aecook Vietnam's stakeholders.

A. Internal:
1. Owners/ shareholders: Are those who invest in Acecook and wish to receive profits from
the company's business activities. In addition, they also want the company to grow
suistainably.
2. Managers: customer satisfaction, organizational development, company goals, benefits,
roles and responsibilities. In addition, they also want to have good salaries and benefits, a
good working environment, development opportunities, and a good corporate culture.
3. Employees: They hope to have good salaries and benefits, a good working environment,
development opportunities, a good corporate culture, and leadership.
B. External:
1. Government: The Government wants food production businesses to comply with
regulations such as paying full taxes and ensuring product quality according to standards.
Good implementation of the government's wishes will help businesses develop
sustainably and contribute to the country's socio-economic developme

19
 2. Society: Society expects manufacturing companies to operate responsibly, meet society's
needs, and contribute to common development such as economic development and job
creation for people, environmental protection and pollution control, support for local
communities, and social initiatives.
3. Customers: hope Acecook provides high-quality products, safe for health, reasonable
prices, diverse flavors, and good customer service.
C. Connected:
1. Bank: cecook has loans to invest in development projects and maintain business
operations. Therefore, the bank wants Acecook to have good debt repayment ability, pay
reasonable loan interest rates, ensure asset safety, be transparent in financial activities and
cooperate closely with them.
2. Suppliers: To maintain the company's operations, Aecook needs suppliers of input
materials, packaging, machinery and equipment, and so on. These suppliers look forward
to long-term and stable cooperation with Acecook, getting paid on time, being provided
with transparent information, participating in the product development process, and
sharing benefits.

APPENDIX 3:
Weigh Rating Weighted
Key external factors
t score

Opportunities

1. Consumer demand for instant noodles in Vietnam increases 0.2 4 0.8

by more than 20% from 2020 to 2023.

2. The company's products have a coverage of more than 95% 0.2 4 0.8
of retail points nationwide, and the recognition level of
Acecook products ranges from 80 - 100% (in particular, the
Hao Hao brand is almost a national brand, has 100%
recognition coverage for consumers in Vietnam).

3. Acecook is a typical enterprise in applying new technology 0.05 3 0.3

and paying attention to the environment.

4. The most stable political mechanism in the region, the 0.05 2 0.2
investment environment is more open and better. Vietnam
joined the WTO/APEC organization, businesses have the
opportunity to cut taxes. Vietnam - US relationship has
improved

5. Online sales channels are increasingly growing, helping 0.05 1 0.05

Acecook reach more customers.

20
 Weigh Rating Weighted
Key external factors
t score

6. The increasing demand for convenient products is an 0.05 2 0.1

inevitable trend in modern society.

Threats

1. The proportion of Acook’s competitors is increasing 0.2 3 0.6

(According to a survey by Nielsen Vietnam, there are
currently about 50 domestic instant noodle companies and
many foreign brands penetrating the Vietnamese market).

2. The customer’s need for food safety is increasing 0.05 1 0.05

3. Input prices for the food industry increased due to 0.05 1 0.05
increased gasoline prices.

4.The proportion of consumers in Vietnam who tend to 0.1 1 0.1

tighten spending is 62% by 2023.

Total 1.00 3.05

APPENDIX 4: SWOT analysis of Aecook Vietnam.

Strengths Weaknesses
S1: Strong and long-standing brand value. W1: Involved in a huge media incident due
S2: The price of Hao Hao noodles is in the to FSAI recalling two products, including
cheap segment so it is suitable for the Hao Hao instant noodles.
majority of consumers.
S3: Modern technology, advanced
production lines
S4: Diversify products, with a combination
of tradition and modernity.
S5: Strengthen market research and
development.
S6: Large number of distribution points and
distribution channels.
S7: Positive business situation, steady profit
growth.
Opportunities Threats
O1: The fast food market, for example, T1: The industry market is full of potential
instant noodles, has had good growth and will also attract both domestic and
potential in recent years, causing demand foreign food manufacturing companies to
and consumption to increase. This is also a enter the market, thereby making the instant
great opportunity for the brand to develop noodle market fiercely competitive and

21
and reach further in the future. harsher.
O2: Integration offers the potential for T2: Consumers are increasingly concerned
greater expansion into foreign markets about the quality of products and their
O3: Support from policies for the food health.
industry. T3: Consumers are interested in green
consumption, leading to increasing
responsibility for environmental protection.
T4: Production raw material prices increase
due to economic inflation.

APPENDIX 5 : QSPM for selected strategies

Strategy 1 Strategy 2
Improve Self-supply of
product input materials
quality
Weigh
t AS TAS AS TAS
Key Internal Factors
Strengths
1. Strong and long-lasting brand in
0,2 3 0,6 3 0,6
Vietnam
2. Financial Position 0,1 3 0,3 1 0,1
3. Wide distribution network 0,1 2 0,2 1 0,1

4. Training and development 0,1 3 0,3 1 0,1

5. Invest in modern, high-quality

0,1 3 0,3 1 0,1
equipment and technology

6. Build R&D strengths in product

0,05 3 0,15 1 0,05
development

7. Good human resources policy 0,05 3 0,15 3 0,15

Weaknesses 0
1. Not being able to produce the source
0,1 1 0,1 3 0,3
of input materials

2. The product contains ingredients that

0,1 2 0,2 2 0,2
are not good for health

3. Low nutritional value 0,05 3 0,15 2 0,1

4. Impact on the environment 0,05 2 0,1 2 0,1

22
 Strategy 1 Strategy 2
Improve Self-supply of
product input materials
quality
Weigh
t AS TAS AS TAS
Subtotal - Internal 1,0 2,6 1,9

Key Internal Factors

Opportunities

1. Consumer demand for convenience

0,2 3 0,6 3 0,6
foods is increasing.

2. Export market potential 0,1 3 0,3 3 0,3

Threats 0 0
1. Pressure from substitute products 0,2 2 0,4 1 0,2

2. Consumer demand for healthy and

0,05 3 0,15 2 0,1
environmentally friendly products

3. Domestic and foreign competitors are

0,3 3 0,9 3 0,9
increasingly fierce

4. Trade barriers, many strictness 0,05 3 0,15 0 0

5. Government policies 0,05 2 0,1 2 0,1
6. Vietnam's exchange rate is unstable,
the Vietnamese Dong is continuously 0,05 1 0,05 0 0
depreciating
Subtotal - External 1,0 2,7 2,2

Total 5,2 4,1

APPENDIX 6: SWOT analysis of Masan Consumer and Asia Food.

Masan Consumer Asia Food
Strengths • Large financial resources; • Asia Food can have a wide
• Strong and long-standing brand; distribution network, making products
• Large number of distribution easily accessible to consumers.
points; • Asia Food can have a reasonable
• Advanced factory and price policy, suitable for consumers'
production technology; budgets.
• Investment in R&D;

23
 • Diversify high-end products;
• Experienced staff.
Weaknesses High price • Thị phần thấp;
Product quality is still questioned • Thiếu tài chính nguồn lực
due to a series of scandals; • Ít sản phẩm đa dạng: Asia Food chỉ
thể tập trung vào một số mặt hàng
nhất định, chưa đáp ứng được nhu
cầu đa dạng của người dùng.
Opportunites • The fast food market, for example, instant noodles, has had good
growth potential in recent years, causing demand and consumption to
increase. This is also a great opportunity for the brand to develop and
reach further in the future.
• Integration offers the potential for greater expansion into foreign
markets
• Support from policies for the food industry.
Threats • The industry market is full of potential and will also attract both
domestic and foreign food manufacturing companies to enter the market,
thereby making the instant noodle market become fiercely competitive.
furthermore.
• Consumers are increasingly concerned about product quality and their
own health.
• Consumers are interested in green consumption, leading to increased
responsibility for environmental protection.
• Prices of raw materials for production increased due to economic
inflation.

APPENDIX 7: Mappping of Aecook’s Stakeholders.

High Level of Stakeholder Interest Low Level of Stakeholder Interest

High Level of Key player: Keep satisty:

Stakeholder  Shareholders  Employees
Power  Manager  Customers

Low Level of Keep engaged: Keep inform:

Stakeholder  Banks  Society
Power  Government
 Suppliers

APPENDIX 8: Form of structure of Aecook Vietnam

Administrative Council

24
 Chief executive officer

Administrative Accounting Technical Planning marketing I-E

R&D
offices department department department department department

Production Bussiness
department Department

Ho Chi Minh factory

Ho Chi Minh Branch
Binh Duong Factory
Binh Duong Branch
Vinh Long Factory
Vinh Long Branch
……..
….

APPENDIX 9: Roadmap for implementing the strategy of improving product quality and
low costs
Tasks Department in charge Timeline
Task 1 Prepare budget estimates in the 2025 Finance - accounting Q1 – Q2
financial plan for new product research and department 2025
development activities Research and
Research food standards in each market.. Development
Task 2 Set up contracts with suppliers and negotiate Administration Q3 – Q4
for lower prices 2025
Task 3 Apply new technologies in the production Manufacture Q1 – Q2
process to improve efficiency 2026
Task 4 Promote the benefits of products Marketing and sales Q3 – Q4
domestically and internationally năm 2026
Task 5 Expand domestic sales channels and begin to Marketing and sales Q1 – Q2
explore foreign markets. 2027
Task 6 Implement a strong customer service Marketing and sales Q3 – Q4
strategy to meet growing customer base 2027
Task 7 Continue to innovate and improve Research and Q1 – Q2
technology to achieve better efficiency Development 2028
Task 8 Further optimize the production process to Manufacture Q3 – Q4
reduce costs 2028
Task 9 Marketing and sales Q1 – Q2
Increase marketing efforts in foreign markets
2029
Task 10 Completely expanded into foreign markets Marketing and sales Q3 – Q4

25
 2029
Task 11 Review the strategy's performance and make All of departments 2030
necessary adjustments.

APPENDIX 10: Actions to avoid conflicts between stakeholders and assist the company in
implementing cost-maximizing strategies.
Stakeholders Department in Action
charge
Shareholders General Meeting of Organize annual meetings to discuss directly and
Shareholders (chaired get opinions from all shareholders.
by the owner)
Managers Owner/ Shareholders Have regular reports from management to capture
all company problems and resolve them
immediately to avoid wasting time and handle
work more effectively.
Listen to the opinions of subordinates to make
them feel respected during their work.
Employees Human resources Conduct surveys and discuss directly about issues
department in the working environment: salaries, bonuses,
benefits and fair judgments. When workers are
satisfied, they will increase work efficiency and
reduce the risk of dismissal.
Encourage employees to come up with creative
ideas to make work more effective.
Customer Marketing and sales Collect customer opinions through surveys,
online feedback and hotlines when purchasing
products so that the company can take timely
corrective measures, avoiding risks that
negatively affect the company's image.
Suppliers purchasing Organize face-to-face workshops and receive
department advice from suppliers.
There are clear contracts and agreements on raw
material supply.
Regularly negotiate with suppliers to resolve
issues related to purchasing, costs and ensure the
safety of input materials.
Bank Finance Department Maintain good relationships, and provide accurate
data to ensure loans with the lowest and most
preferential interest rates.
Society Marketing and sales Carry out advertising through mass media so that
the brand image always appears in consumers'
minds.

26
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