ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 1: Business and Business Environment

Submission date April 8th ,2024 Date Received 1st submission April 8th ,2024

Re-submission Date Date Received 2nd submission

Student Name Nguyen Duc Long Student ID BS00814

Class MA07101 Assessor name Mr.Vi Dang Anh Khoa

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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.

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Introduction .........................................................................................................................................................5
I. Identify the positive and negative impacts the macro environment has upon business operations ................6
1. Porter’s 5 forces model of Acecook ..................................................................................................................6
1.1.The power of suppliers (Moderate) .......................................................................................................................... 6
1.2.The power of buyers (Moderate) ............................................................................................................................. 6
1.3.Potential competition (Low-Moderate) .................................................................................................................... 6
1.4.Threat of Substitutes (Low) ...................................................................................................................................... 7
1.5.Current competition (Moderate-High) ..................................................................................................................... 7
2.PESTLE Model ....................................................................................................................................................8
2.1.Political .................................................................................................................................................................... 8
2.2.Economic .................................................................................................................................................................. 9
2.3.Social ...................................................................................................................................................................... 11
2.4.Technology ............................................................................................................................................................. 12
2.5.Legal ....................................................................................................................................................................... 14
2.6.Environment ........................................................................................................................................................... 15
II. Internal and external analysis of Acecook to identify strengths and weaknesses .........................................16
1.Brand name .....................................................................................................................................................16
2.Human Resources............................................................................................................................................17
3. Vision .............................................................................................................................................................18
4. Technology base or Research and Development............................................................................................18
III. Strengths and weaknesses and their interrelations with external macro factors .........................................19
Conclusion ..........................................................................................................................................................22
Reference ...........................................................................................................................................................23
Introduction
My supervisor at VCBF, a Vietnamese company, has assigned me a task to analyze the internal and external
environments of Acecook. Following the report on Acecook, my manager believes that Acecook has the
opportunity to become a profitable investment. This report provides an analysis of the internal and external
environments of Acecook, a Vietnamese company operating in the instant noodle industry. The purpose of this
analysis is to evaluate the strengths and weaknesses of the company and assess how they interact with external
macro factors. The report will address the positive and negative impacts of the macro environment on the
chosen company, including the competitive environment (Five Forces Model) and PESTLE factors. Additionally, it
will conduct an internal analysis to identify strengths and weaknesses based on core competencies, followed by
an explanation of how these factors relate to external macro factors. Furthermore, real business decision-
making of the chosen company will be examined to highlight the influence of internal strengths and weaknesses
and external macro factors on strategic decisions.

Undoubtedly, everyone in Vietnam has heard the name Acecook at least once. Established in 1993, this is one of
the longstanding companies in the Vietnamese market. Overcoming numerous challenges over the years,
Acecook has gained the trust and love of consumers and holds a significant position in the Fast-Moving
Consumer Goods (FMCG) industry in Vietnam. Its signature product is the instant noodles brand called "Hao
Hao."
I. Identify the positive and negative impacts the macro environment has upon business operations

1. Porter’s 5 forces model of Acecook

1.1.The power of suppliers (Moderate)
The instant noodle industry heavily relies on raw materials such as wheat flour, wheat, cooking oil, seasoning,
etc. Suppliers of these raw materials are often small-scale or located overseas, which limits their bargaining
power. Acecook can implement a strategy of bulk purchasing to negotiate prices and demand suppliers to
provide sufficient quantities of high-quality raw materials to meet production needs. The ability to negotiate
favorable terms with suppliers can impact the company's competitiveness. Wheat flour is directly imported
from Australia and Canada, while palm oil is directly imported from Malaysia. Additionally, some other
ingredients are supplied by Vietnamese enterprises (Logistics, 2022).

Threat

Since Acecook's primary source of raw materials is imports, with only a small portion sourced domestically, if
suppliers are unable to meet the requirements for quality and quantity, Acecook may face difficulties in
maintaining or enhancing the quality of its products. Moreover, if prices do not accurately reflect the true value
of the ingredients, Acecook may have to deal with increased production costs, impacting profitability.

1.2.The power of buyers (Moderate)

Customers play a critical role in consuming Acecook's instant noodles. Typically, individual consumers such as
students and busy office workers purchase instant noodles from convenience stores, supermarkets, etc.
Consumers have numerous options regarding brands and types of instant noodles, so Acecook must focus on
improving product quality, diversifying its product offerings, and providing attractive promotional programs to
attract customers and maintain good relationships with them (Marketingai.vn, n.d.). Since 1993, Acecook has
supplied approximately 3 billion packs of noodles to the market each year to meet the demand of customers
nationwide. The estimated revenue of Acecook in 2021 is over 12,000 billion VND, indicating the significant
purchasing power of consumers (thanhnien.vn, 2022). With an affordable price starting from 4,500 VND, the
majority of buyers can easily access Acecook's products. Not only that, Acecook's products, which are both
quality and inexpensive, bring satisfaction to customers, making them come back to buy more.

Opportunities

Customers play a crucial role in helping Acecook generate revenue and profit. Diversifying and providing high-
quality products will help retain existing customers and attract new customer segments. By developing short
and long-term growth strategies, Acecook can increase sales volume and maintain positive relationships with
customers.

1.3.Potential competition (Low-Moderate)

The instant noodle industry has relatively low barriers to entry as it does not require significant capital
investment and the manufacturing technology is not overly complex. New businesses can easily enter the
market by collaborating with contract manufacturing plants. However, to succeed, new enterprises need
effective competitive strategies, the establishment of a strong brand, and the development of widespread
distribution channels. Acecook is one of the longstanding instant noodle brands in the Vietnamese market,
posing a significant challenge for new instant noodle brands (https://www.qdnd.vn, n.d.). Acecook is one of the
leading companies in the instant noodle manufacturing industry in Vietnam and holds a significant market
share, making it challenging for new competitors to enter the market (vietstock, 2022).

Opportunities

The longstanding presence and development in the market affirm the brand's position in the hearts of
customers, enhancing trust and brand recognition. Moreover, the experience and resources accumulated over
time help Acecook maintain its position and increase competitiveness.

1.4.Threat of Substitutes (Low)

Instant noodles are facing competition from substitute products such as pho, hu tieu, vermicelli, and rice
noodles. These products are preferred by consumers for their perceived higher nutritional value compared to
instant noodles. Acecook needs to research and develop new instant noodle products with higher nutritional
value, along with implementing market education strategies to meet consumer demand (Top10sanpham.vn,
2021). Some hu tieu (rice noodle) products from brands such as Nhu Y, Cung Dinh, etc., pose significant
challenges to Acecook. (toplist.vn, n.d.). Some products like Vifon's rice noodles and pho are priced very
competitively at just over 5,000 VND. This creates significant pressure on Acecook. (Websosanh.vn - So sanh
mua re, n.d.)

Threat

Competition from substitute products can indeed be a significant challenge for Acecook. Therefore, Acecook
needs to implement product research strategies with higher nutritional value, catering to consumer demand,
and enhancing their preference for instant noodle products.

1.5.Current competition (Moderate-High)

The instant noodle industry is one of the most competitive sectors in the Vietnamese FMCG market, with major
brands such as Masan Consumer, Vifon, and Asia Foods. Acecook, being a well-established brand, has been
dominant in the market for a long time. However, the emergence of competitors like Masan Consumer, Uniben,
etc., with appealing new products, is gradually narrowing the gap with Acecook. Competitors continuously
introduce new products, improve quality, enhance marketing efforts, and offer promotions, intensifying the
competition. This demands that Acecook formulate both short-term and long-term strategies to maintain
competitiveness. Omachi consistently updates and improves its products and engages in strong promotional
activities (Masanconsumer.com, 2023), while Uniben's Mì 3 Miền Gold brand is gradually dominating the
market with extensive launch and promotional activities (thuonghieuvietnoitieng.com, n.d.). Acecook holds a
dominant position in the instant noodle industry. According to KB Securities (2022), Acecook commands
approximately 33.5% of the domestic instant noodle market share.
 The market share of instant noodles consumed domestically at the end of 2021
(Source:KBSC;VNDirect;Tong hop)

Threat

The emergence of increasingly strong competitors such as Masan Consumer and Uniben is narrowing the gap.
Fierce competition from rivals to gain market share is driving up costs for Acecook to improve its products and
image, affecting its competitive advantage and market share in the instant noodle market. This compels
Acecook to find quick and flexible solutions to maintain its position.

2.PESTLE Model
2.1.Political
Vietnam's political stability, contrasting with political conflicts in some other countries or territories, significantly
influences the development of businesses nationwide, including Acecook (https://dangcongsan.vn, n.d.).
According to Baohatinh.vn (2023), the government is committed to standing by and supporting businesses in
building a strong, united, and professional business community.

Moreover, Vietnam has demonstrated adept diplomacy and strengthened cooperation with countries
worldwide through trade agreements, aiming to open up business opportunities with foreign nations and
expand markets (trungtamwto.vn, n.d.). The successful signing of these agreements brings new opportunities to
Vietnam's economy.
 Prime Minister Pham Minh Chinh receives Austrian Foreign Minister Alexander Schallenberg. (Photo: Duong
Giang/TTXVN).

Indeed, the global political landscape is experiencing various instabilities, such as the escalating tensions
between Russia and Ukraine or the evolving trade war dynamics between the US and China, alongside the UK's
withdrawal from the European Union (EU). These factors contribute to economic uncertainties worldwide and
inevitably impact the operations of domestic businesses to some extent (tcct, 2023).

The impact of political factors on Acecook

Positive

The political stability of Vietnam promotes a conducive business environment, enabling Acecook to focus on
short and long-term plans and investments. This stability also fosters economic development and drives
Acecook's growth.

Trade agreements between Vietnam and other countries may lead to reduced import tariffs on raw materials or
equipment, helping Acecook cut production costs and improve profitability. It also expands the consumer
market to many countries worldwide

2.2.Economic
According to the Central Economic Committee (2023), Vietnam's GDP reached approximately $406.45 billion,
increasing about 50 times from the period of 1986-2022. It ranks among the top 5 countries with the highest
economic growth worldwide. Additionally, according to the World Bank's forecast in 2023, Vietnam's GDP is
expected to continue growing in the next two years, with projected growth rates of 5.5% in 2024 and 6% in
2025, indicating the resurgence of Vietnam's economy.
 The GDP scale of Vietnam from 1986 to 2022.( Source: International Monetary Fund (IMF)).

In 2022, the GDP growth rate was 8.02%, significantly higher than the set target of 6-6.5%. According to
Associate Professor, Dr. Dinh Trong Thinh (2022), in the first six months of the year, Vietnam's Consumer Price
Index (CPI) only increased by 2.44%, with core inflation rising by 1.25%, which is relatively low. These conditions
can be seen as favorable for domestic businesses. However, he also raised concerns about potential risks such
as inflation and high commodity prices.

The GDP growth rate of Vietnam in 2022 (Source: Vneconomy)

The unemployment rate among the working-age population in general for the first 9 months of 2023 was 2.28%.
The labor force aged 15 and above is 52.3 million people, with a labor force participation rate of 68.9%
(Electronic Newspaper of the People's Army, 2023). This exacerbates the burden on the economy, increases the
risk of social instability, and particularly leads to resource wastage.

According to the State Bank of Vietnam (2023), by the end of 2023, the USD/VND exchange rate increased by
2%. The average mobilization interest rate is 3.5% per year, and the average lending interest rate is now 6.7%
per year. Credit increased by 13.3% compared to 2022. These are favorable factors for capital for domestic
businesses, including Acecook.

The Federal Reserve (FED) has increased interest rates 7 times from 0 to 5.75% as of now. Continuously
increasing the value of the USD will significantly impact the VND exchange rate.

The impact of Economic Factors on Acecook

Positive

Vietnam's growing economy implies that people's lives are becoming busier, thus instant noodles serve as a
solution due to their affordable price, convenience, and quick preparation. Acecook's products can meet these
needs.

Low inflation allows Acecook to maintain costs at a minimum, enabling it to enhance marketing strategies aimed
at consumers.

Low interest rates in Vietnam can benefit Acecook by facilitating borrowing. This could allow Acecook to invest
in production capacity, marketing campaigns, or research and development, ultimately solidifying its position in
the market.Nền kinh tế đang phát triển của Việt Nam đồng nghĩa với việc cuộc sống của mọi người ngày càng
bận rộn vì thế mì ăn liền như một giải pháp với giá cả phải chăng tiện lợi nhanh chóng. Các sản phẩm của
Acecook có thể đáp ứng những điều này.

2.3.Social
According to Vnexpress, the population of Vietnam in 2023 is 100.3 million people. Among them, the male
population is 50 million, accounting for 49.9%, and the female population is 50.3 million, accounting for 50.1%.
The rural population is over 62 million, and the urban population is 38.2 million. The enrollment rate in higher
education is over 55%, and according to the General Statistics Office, the labor force participation rate in the
two major cities of Hanoi and Ho Chi Minh City in 2020 was 67% and 63.5%, respectively. The average income of
laborers is 6.7 million VND per month (ThuVienPhapLuat.vn, 2023). The urbanization rate in our country is
increasing from 30.5% in 2010 to 40% in 2022 (quanly.moitruongvadothi.vn, n.d.). These are crucial pieces of
information for Acecook to build strategies to reach its target customer demographics.

According to statistics from the World Instant Noodles Association (2023), in 2022, the consumption of instant
noodles in Vietnam was 8.48 billion packets, with an average of 87 packets consumed per person in 2022.
Vietnam ranks among the top 3 markets for instant noodle consumption in 2022. Instant noodles can be used
by consumers as a light meal. There is a trend towards seeking products that can be personalized according to
taste preferences, allowing users to combine different ingredients to create complete meals. According to the
Facts and Factors market research report, the average annual revenue is expected to increase by 6% from 2021
to 2026.
With a clear understanding of these factors, Acecook has identified its target customer groups, including
students, office workers, aged 18-35, both male and female, who lead busy lives and seek quick convenience.
Income levels are categorized as follows: (7.5 – 15 million VND); (4.5 – 7.5 million VND); (3 – 5 million VND); (1.5
– 3 million VND); (0 – 1.5 million VND) (Anon, 2022).

The rapid societal changes demand that Acecook conducts research and exploration to effectively meet the
needs of its customers.

According to a study by Vero (2024), 60% of Vietnamese consumers choose a healthy eating lifestyle, with a
growing concern for their health. Moreover, there are rumors about the use of instant noodles causing cancer
(ExHub, n.d.). This poses challenges that require Acecook to develop both short-term and long-term strategies
to adapt and respond accordingly.

The impact of Factors Social on Acecook

Positive

The increasing urbanization and busy lifestyles lead to a rising population in fast-paced cities, driving the
demand for convenient and affordable meals, benefiting Acecook's instant noodles.

There is an opportunity to strengthen relationships with consumers by leveraging its longstanding presence in
the market, aligning its CSR activities with social values to build strong relationships and foster loyalty.

The blend of Vietnamese and Japanese cultures helps Acecook successfully adjust its products to suit
Vietnamese tastes, demonstrating deep understanding of local culture, thereby enhancing brand loyalty and
customer satisfaction.

The workforce, along with the population of Vietnam, provides an opportunity for Acecook to access resources,
support training, and contribute to the overall development of society.

Negative

Consumers tend to opt for healthier eating habits, with increasing concerns about health, which may lead them
to seek alternative options to instant noodles. This could negatively impact Acecook's core product portfolio.

Customer skepticism about products, fueled by rumors of harmful substances in Acecook's products, can create
misunderstandings that reduce customer trust and affect Acecook's brand and market share.

The rising demand and expectations of customers pose challenges, as failure to adapt to changing societal
trends may disadvantage Acecook in the competitive landscape.

2.4.Technology

According to Vnetwork (2023), Vietnam is one of the countries with a large number of Internet users, with 77.93
million users, accounting for 79.1% of the total population. A report by Forrester in 2023 indicates that
technology will continue to evolve and will lead businesses to change their marketing approaches in the coming
years.

The situation of Internet usage in Vietnam in 2023 (Source: Vnetwork)

Moreover, according to the magazine "Economics and Forecast" (2023), thanks to the young population
structure, which is capable of quickly grasping trends, and the development of large e-commerce platforms such
as Shopee, Lazada, and Tiktok Shop, Vietnam is considered one of the leading developing markets in Southeast
Asia. Retail sales have increased rapidly from $6.2 billion in 2017 to $16.4 billion in 2022.

The Fourth Industrial Revolution has significantly influenced business activities. The emergence of robots,
automated production lines (Anon, 2022), and the introduction of tools and AI help businesses apply automated
processes, provide analyses (VN, 2019), and track production processes more efficiently.

The impact of Factors Technology on Acecook.

Positive

To enhance efficiency and productivity, Acecook can implement automated production chains and analysis to
optimize production costs and increase output.

This is an opportunity for Acecook to expand its market presence on e-commerce platforms and strengthen
brand image through social media marketing, asserting its brand position and boosting sales.
Managing the supply chain and making accurate and effective decisions based on detailed analysis will also be
crucial for Acecook's success.

Negative

Indeed, the rapid changes and development of technology may require Acecook to invest more in research and
development, as well as becoming more dependent on technology.

Furthermore, there is fierce competition on social media platforms and e-commerce platforms. Acecook will
need to devise effective strategies to stand out and compete in this crowded marketplace.

2.5.Legal
The legal system in Vietnam is increasingly improving, particularly with comprehensive regulations such as Law
No. 59/2020/QH14 (thuvienphapluat.vn, 2020), Law No. 91/2015/QH13 (thuvienphapluat.vn, 2015), etc. These
create conditions for both domestic and foreign businesses to understand and comply with regulations
effectively.

According to the Law Library, Vietnam has many policies that encourage investment from abroad or from
Vietnam to foreign countries through decrees and laws such as Decree No. 31/2021/NĐ-CP, Law No.
61/2020/QH14, etc. These policies provide opportunities for domestic enterprises to expand their production
and business scale or invest abroad to expand their market.

Under Law No. 72/2020/QH14, environmental protection policies are increasingly emphasized by the state,
especially for large-scale production enterprises. This requires companies to comply and engage in activities to
minimize emissions during production processes (thuvienphapluat.vn, 2020). Additionally, regulations related to
food safety and hygiene are becoming increasingly stringent, demanding companies to apply techniques to
ensure food safety and supply quality products to the community (thuvienphapluat.vn, 2010).

According to information from the National Tax Portal, at the 28th session of the National Assembly Standing
Committee, there will be discussions on adding some draft laws to the legislative program for 2024, including
the Value Added Tax Law (thuvienphapluat.vn, 2024). This will pose a challenging task for businesses in
optimizing operational costs. Additionally, under Law No. 45/2019/QH14, regulations regarding labor laws are
increasingly emphasized, requiring businesses to ensure the rights of workers, provide a safe working
environment, and fair wages.

The impact of Factors Legal on Acecook

Positive

With the investment encouragement policies being highly favorable conditions for Acecook to attract
investment and expand its business scale and production capacity to enhance competitiveness.

Moreover, with an increasingly perfected legal system, Acecook can clearly understand its business rights as
well as consumer rights.

Negative
Policies regarding environmental protection and food safety require Acecook to invest in advanced,
environmentally-friendly machinery and technology, not only to enhance product quality but also to tighten
food safety controls.

Furthermore, current and future tax and fee regulations may impact Acecook's production costs and
profitability. Additionally, regulations concerning labor rights increasingly emphasize the need for Acecook to
ensure workers' rights, wages, working conditions, and environment.

2.6.Environment
Every year, Vietnam is affected by numerous natural disasters such as storms, floods, landslides, especially in
the Central region (https://dangcongsan.vn, n.d.). However, Vietnam's climate is not too harsh, especially in the
Southeastern and Red River Delta regions, providing favorable conditions for businesses to establish factories.
Vietnam's advantageous geographical position, along with its diverse transportation system, facilitates
connectivity with other countries worldwide (AccGroup, n.d.).

However, not only Vietnam but the entire world has experienced one of the worst pandemics in human history,
namely Covid-19, which severely impacted the business operations of enterprises, disrupting growth processes
(AST Group - Assurance, Smart Solutions & Trustworthy, n.d.).

According to the EIP annual report, Vietnam is among the top 10 countries with environmental pollution in the
Asian region. Furthermore, land and water sources are heavily polluted, especially in industrial areas (Nhat,
n.d.). Every year, Vietnam is affected by numerous natural disasters such as typhoons, floods, landslides,
especially in the central region. (https://dangcongsan.vn, n.d.).

The current status of environmental pollution in Vietnam (Source: Hop nhat)

The impact of Factors Environment on Acecook

Positve
The favorable geographical location and climate enable Acecook to expand its production scale across the
country with 11 factories to meet market demand and enhance competitive capacity.

The impact of Covid-19 has increased the demand for instant noodles, helping Acecook to maintain its position
during the pandemic.

Negative

Indeed, everything has two sides, and Covid-19 has also posed many challenges in terms of operations,
importing raw materials, and production management.

Moreover, high environmental pollution indices require Acecook to invest in modern machinery to address
water sources and other issues.

PESTLE factors have a significant impact on Acecook's operations. Acecook has many opportunities in the
Vietnamese business environment due to political stability and economic development. However, Acecook must
face challenges related to changing societal needs, environmental impacts, and food safety regulations. To
maintain its competitive advantage, Acecook needs to focus on product innovation, quality improvement, brand
building, and develop long-term strategies to adapt to changes in these factors.

II. Internal and external analysis of Acecook to identify strengths and weaknesses

1.Brand name
The name "Hảo Hảo" by Acecook is certainly not unfamiliar to Vietnamese people over the years. Established in
1993, Acecook has overcome challenges and become one of the long-standing businesses in Vietnam, earning
consumer trust and becoming one of the giants in the Vietnamese instant noodle market. According to vietstock
(2022), Acecook holds about 33.5% of the domestic instant noodle market share.

Acecook is known for its innovation, utilizing advanced Japanese technology to ensure product quality suitable
for Vietnamese tastes. Additionally, it innovates in marketing strategies and develops diverse product lines
(ExHub, n.d.). One notable aspect of Acecook's products is their simple yet refined packaging design and unique
flavors tailored to Vietnamese preferences. Furthermore, Acecook diversifies its product range to include items
such as hu tíee and phở to meet consumer demands, distinguishing itself from other players in the Vietnamese
instant noodle market.
 Hao Hao instant noodle (Source:Acecook Viet Nam)

However, Acecook recently faced a scandal where some "Hảo Hảo" products were recalled in Europe due to
containing carcinogenic substances, resulting in negative repercussions. Nevertheless, after reevaluation, it was
confirmed that Acecook's products domestically do not contain carcinogenic substances, reaffirming the brand's
credibility (vietnamnews.vn, n.d.).

Despite this setback, Acecook's long-standing presence and consumer trust are significant advantages. The
brand's reputation remains strong, and its ability to innovate in operations will drive further growth. With its
established position and continued innovation, Acecook is poised to expand its market to other countries in the
future.

2.Human Resources
Human resources are one of the most critical factors for every business's development. Vietnam, with a large
labor force, is a significant advantage for Acecook in recruitment and training. From 1995 to 2021, Acecook has
employed nearly 6,000 staff members, and this number has continued to grow. Acecook recognizes its
workforce as a key factor in its development, thus continually striving to improve, build an ideal working
environment, ensure favorable policies on salaries, rewards, social welfare, and promote development despite
cultural differences between Vietnam and Japan. Based on the management principle of 3H: Happy Customers,
Happy Employees, and Happy Society (ExHub, n.d.).

Established since 1995, Acecook has repeatedly been listed among the best workplaces. Recently, it was
recognized as one of the Top 10 Outstanding Enterprises with Happy Human Resources in 2021 and among the
Top 15 Best Places to Work in Vietnam. Mr. Kajiwara Junichi, General Director of Acecook Vietnam Joint Stock
Company, emphasized the creation of a 3P working environment. Pleasure meets basic needs regarding salaries
and social welfare, Passion encourages innovation and creativity along with pursuing one's career aspirations,
and Purpose helps individuals find their differences and life meanings through their work. Moreover, Acecook
highly values its human resources and invests significantly in training and development to maintain the best
management system (ExHub, n.d.).

Especially during the Covid-19 pandemic, Acecook implemented a stable policy without layoffs, ensuring full
welfare benefits. Throughout the peak pandemic months, Acecook had over 2,900 employees participating in
on-site working models, ensuring care policies, salary, and social welfare for employees while still maintaining
production to meet market demand, a feat that few other companies could achieve like Acecook (ExHub, n.d.).

Many employees express their happiness in dedicating themselves to Acecook, such as Ms. Thao Nguyen, a
specialist in microbiology and GMO testing, Mr. Nguyen Huu Cuong, head of the noodle production plant, or Mr.
Le Dinh Quyet, with 22 years of experience, currently the head of the seasoning production plant. These
individuals have long been dedicated to Acecook, and they feel joy and emotional attachment in contributing to
Acecook's development up to this day (VnExpress, n.d.).

In general, this will be Acecook's strength. With this strong human resource base, Acecook can increase its
competitive advantage in the market. Furthermore, it helps Acecook improve product quality, diversify its
products, and adapt well to rapid changes in the surrounding environment, leading to even stronger
development in the future.

3. Vision
From the perspective of Japanese investors investing in Vietnam, Acecook not only seeks profits but also aims to
contribute to the overall development of the community and the country. With the vision of becoming a leading
food production enterprise in Vietnam, capable of managing to adapt to the globalization process, this vision
reflects Acecook's dreams and ambitions on the path to becoming a leading enterprise in the food production
industry, especially instant noodles in Vietnam, and expanding into the international market so that Vietnamese
products are present in various powerful nations and continents worldwide. This vision aligns with the
aspirations of the Vietnamese people and is a significant advantage for Acecook in enhancing its competitive
advantage against industry peers, contributing greatly to Vietnamese society and gaining consumer recognition
and trust (Acecook Vietnam, 2020).

Additionally, every year, Acecook sets aside a portion of its revenue for CSR activities to support the community,
such as donating 4,000 boxes of noodles to flood-affected areas, supporting highland communities, providing
scholarships for students, etc. These activities not only help support the community overcome difficulties but
also contribute to enhancing the company's reputation, aligning with its business philosophy. This will be a
strong point that greatly impacts Acecook's development. It helps Acecook identify its direction, understand its
current position, and develop appropriate strategies to enhance its competitive advantage, develop, and
contribute to Vietnamese society.

4. Technology base or Research and Development.

In order to gain the trust of consumers as it does today, Acecook has invested a lot of effort in researching the
Vietnamese taste palate to adjust flavors accordingly. Coming from Japan has been a significant advantage for
Acecook, allowing the company to learn and apply advanced modern technologies from Japan to the
manufacturing process. Currently, Acecook operates more than 11 factories nationwide, and the noodle
production process is ensured to meet strict standards to prevent insects and bacteria infiltration. The
production process consists of 12 main stages from raw materials to finished products, and each stage applies
modern manufacturing technology, automated and precise settings, along with strict supervision to ensure the
highest quality products reach the customers (thamquannhamay.acecookvietnam.vn, n.d.). Nowadays, the R&D
department plays a crucial role in researching consumer needs and tastes, helping Acecook diversify its products
with various flavors such as seafood stir-fried noodles, spicy sour shrimp, pork ribs, etc., providing customers
with more choices and meeting market demands, thereby enhancing competitiveness (a280004 and MGM.A28-
HV-0001.DMHa, 2022). Furthermore, Acecook applies solar energy systems to instant noodle production,
contributing not only to cost savings but also to environmental protection efforts (ExHub, n.d.).

The application of modern technology in production and continuous research and development to diversify
flavors are strengths for Acecook. This helps Acecook optimize production costs, ensure product safety and
quality, increase profitability, and enhance competitiveness with other players in the Vietnamese instant noodle
market.

III. Strengths and weaknesses and their interrelations with external macro factors
Strengths + Weakness -

+Strong brand value thanks to its long-standing +Risks related to media scandals regarding food
presence in the market. With diverse and unique safety
flavors that are suitable for Vietnamese culture,
+Most instant noodle products lack significant
catering to all social classes. Good responsibility
nutritional content.
towards the community and society.
+Difficulty in enhancing competitiveness in higher-
+ Applying modern production lines, ensuring
end segments
Japanese quality standards, and possessing strong
resources and capital. +High dependence on imported raw materials.
+ Robust growth and development.

Opportunities + Threats -

+ The instant noodle market is increasingly + The emergence of numerous competitive rivals
expanding with growing demand and distribution poses many challenges
network
+ New policies regarding taxes and fees.
+ The government is encouraging foreign
+ Substitute products with higher nutritional value
investment.

+ Strong development of social media platforms.

As one of the longstanding enterprises in Vietnam, Acecook always aims to move forward and bring value to the
community. In the context of improving economy and changing eating habits, Acecook has formulated a new
development strategy in 2023 by producing high-value instant food products with significant advancements in
quality, nutrition, and environmental protection. Acecook Vietnam is aiming to build a positive image and
enhance the value of instant noodles, thereby improving competitiveness and further development (VnExpress,
n.d.).

SWOT analysis greatly influences Acecook's business decision-making when setting its strategic development
goals. The SWOT model plays a crucial role in helping Acecook Vietnam assess the business environment and
make appropriate business decisions in its strategy to enhance the value of instant noodles.

Acecook can leverage its strengths, such as its long-standing experience and strong brand value. Additionally,
having robust resources with modern production lines and strong growth and development conditions allows
Acecook to increase the value of its products. Moreover, its strong CSR activities supporting the community help
build a positive image among customers.

Acecook has utilized its strengths to seize opportunities to achieve its goals. With the increasing demand for
instant noodles, expanding distribution networks, government encouragement of foreign investment, and the
strong growth of social media platforms, Acecook has capitalized on its strengths, including its strong brand
value, modern production lines, and extensive distribution network. This has led to the formulation of
reasonable development strategies to meet customer needs and become one of the major players in the
Vietnamese instant noodle market, with a high market share.

However, Acecook faced a scandal in 2021 when its exported products to Europe were found to contain
carcinogenic substances, which caused public outcry. This was a concerning issue for consumers. Nevertheless,
Acecook leveraged its strengths to overcome this weakness by its long-standing presence in the market, modern
production technology, strong brand value, and significant contributions to societal development. Acecook
provided explanations regarding its products and managed to overcome the scandal, maintaining consumer
support and trust in its products.
A significant challenge for Acecook is the emerging competition from competitors who are improving the quality
and image of their products, gradually gaining market share and position in the market. Additionally, the
emergence of substitute products such as noodles, pho, and hu tieu, along with new regulations on taxes and
fees, poses a considerable challenge to Acecook. However, Acecook has utilized its strengths and opportunities
to address these challenges by focusing on optimizing production costs, increasing the value of instant noodles,
building good customer relationships, and engaging in meaningful CSR activities.

SWOT helps Acecook evaluate its ability to achieve its goals, thereby formulating appropriate strategies and
plans to leverage strengths and opportunities, overcome weaknesses and challenges to move forward. This
helps Acecook implement its 2023 strategy of building a positive image and increasing the value of instant
noodles.

SWOT of Omachi
Conclusion
In summary, this report has provided in-depth analyses of the internal and external environments of Acecook,
highlighting its strengths, weaknesses, and their correlation with external macro factors. By understanding
these dynamics, Acecook can make informed strategic decisions to leverage its strengths and mitigate
weaknesses, ultimately achieving its business objectives in the Vietnamese market. Therefore, investing in
Acecook has the potential to become a profitable investment opportunity.
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