STRATEGIC MANAGEMENT

PNJ - GROUP 4
Table of contents

THE INTERNAL AUDIT

01 MISSION, VISION, CORE VALUES
AND GOALS/OBJECTIVE 03

02 THE EXTERNAL AUDIT

04 TYPE OF STRATEGY
Introduction
about PNJ
About PNJ

Established in 1988, the

With more than 350 retail stores nationwide.
leading jewelry
manufacturer and
retailer in Asia
 Main business fields

Producing and trading

Trading watches and gold bars.
jewelry, fashion
accessories, souvenirs.
 Diamond, precious stones & Trading in real estate.
precious metal inspection services.
Performance

7000 Staff 4.0 MIL 60 MIL USD 10 MIL USD

Members Items/year Annual sales Annual export
revenue revenue
 Fine
Jewelry

Corporate Gifts

Product
Lines
Machine-made Chain
 MISSION, VISION, CORE

01 VALUES AND
GOALS/OBJECTIVE
 Accelerate the development of
PNJ constantly We aim to become Integrity strategic capabilities, refine the
innovates to bring the leading jewelry Responsibility entire system.
exquisite products fashion brand, with Quality Adhere to the four strategic
with true value, core attributes Innovation
directions established from
honoring the beauty being Creativity, Engagement
Fineness, and 2017-2022.
of humanity and
Reliability. Incorporate new business
life.
development platforms.

VISION MISSION Core Values Objectives

02 THE EXTERNAL AUDIT

2.1. EXTERNAL ASSESSMENT

External factors - Opportunities, Threats, Solutions

2.2. THE COMPETITIVE PROFILE MATRIX

Competitors: DOJI, SJC
 2.1
EXTERNAL ASSESSMENT
 External factors Opportunities

Tax incentive:
• Influence PNJ's finances, including lower
corporate taxes and credits for activities like
research, development, and expansion.
• Invest more in growth.
Policies and Regulations
Investment Promotion Policies:
Changes in tax policies, trade regulations, and
• Help PNJ grow and gain market share.
social welfare policies • Attract foreign investors and local partnerships.
Trade agreements:
• Impact PNJ's global competitiveness.
• Access new markets and lower material costs,
enhance supply chain efficiency.
 Threats Solutions for threats

Tax changes: engage tax experts or consultants, diver

revenue streams or exploring tax-efficient investment
Tax Changes: Increase operating costs, reduce
options.
profits or higher consumer prices, reduce sales.
Import/export restrictions: build strategic partnerships with
Import/Export Restrictions: delays or interruptions
reliable suppliers globally, implementing inventory
in production, affect customer satisfaction, harm
management systems, Explore alternative sourcing options
PNJ's market reputation.
or invest in domestic production capabilities.
Counterfeit Products: pose risks to consumer safety
Counterfeit products: Deploy anti-counterfeiting
and PNJ's brand reputation and revenue.
technologies, collaborate with law enforcement agencies,
educate consumers.
 External factors Opportunities

• Retail chain: With the opening of an additional 121

stores over the past 5 years, PNJ now owns a network
of 269 stores, more than double the total number of
stores of all three brands SJC, Doji,...This system
enables the company to reach customers nationwide
Competitive trends
and dominate market share.
• Expanding operations into promising sectors: the
Direct competitor in jewlery industry: PNJ's direct
combination of jewelry and watches, accessories...
competitors include other prominent jewelry
creates a broader interactive shopping space for
retailers and manufacturers such as DOJI group, SJC
customers.
group , and công ty TNHH Bảo Tín Minh Châu.
• Product structure: PNJ is a typical case of improving
business performance through shifting product
structure from gold bars to jewelry. Thanks to this
change, PNJ's gross profit margin continues to
improve.
 External factors Threats

• PNJ have to invest heavily on equipment for jewlery

Environmental
Our nature is becoming worse and the raw
materials are gradually running out, leading to lack
of supply for jewellery production process.
production process in order to not be harm for the
environment.
• PNJ also have the anualy environment check and
certification from environment committees about eco-
friendly in their production.

Solutions to threats

• Investment in Sustainable Technology: PNJ should adopt eco-friendly technologies, incorporating recycled
materials and energy-efficient processes.
• Collaboration with Environmental Agencies: Enhance partnerships with environmental agencies.
• Research and Development for Sustainability: Form a Sustainability R&D team.
 External factors Threats

• Persistent geopolitical tensions mixed with

protectionism and competition between major
countries.
Economic
• Implement tight monetary policies to control inflation
The global economic downturn
and anchor interest rates at high levels.
• Because of the general difficult economic situation,
consumer’s finances also decline.

Solutions to threats

• Run discount programs or give away vouchers to attract customers.

• Carry out marketing emphasizing that it is a stable asset and a safe haven.
• Expand online sales channels and taking advantage of digital platforms such as websites, mobile
applications, and social networks.
 External factors Opportunities

Culture force
Gold has been associated with Vietnamese culture Gold prevent currency depreciation.
for a long tịme.
 External factors
Demographic
• Number of population: Vietnam's population
tend to increase rapidly.
• Age structure of population: Vietnam is in the
"golden population" stage with 64% of the
population in working age.
Opportunities
• Number of population: This is a fundamental
advantage for PNJ to develop further because people's
needs are increasing.
• Age structure of population: This is a population with
high spending needs and is also the main customer
group that PNJ targets
 External factors Threats

Demographic

The sex ratio at birth (SRB), which is defined as

Rduce demand and sales of PNJ.
the number of newborns boys to every newborns
girls, is high and tend to be imbalance.

Solutions to threats

The company can invest more in the men's market, focusing on developing and diversifying men's jewelry
designs
 External factors
Technological forces
The gradually development of science and
technology, Most of the machinery for the jewelry
industry has to be imported,
Opportunities
• Accelerate in absorbing new science and technology
before competitors, thereby creating a production
advantage and reaching out to the world.
• Modernize the production process and product output
will be positively improved, thereby meeting more
market demand.
• Meet all consumer tastes and needs.
 External factors Threats

Technological forces

Invest a large budget in changing and upgrading

Modern technology will not be able to completely
technology
replace handwork like in Western countries.

Solutions to threats

• Continuous Learning and Training: Implement a culture of continuous learning within the organization.
• Vendor Negotiation and Partnerships: Negotiate favorable terms with technology vendors, suppliers, and
service providers to minimize upfront costs and maximize value.
• Phased Implementation Approach: Adopt a phased implementation approach
 2.2
THE COMPETITIVE PROFILE MATRIX
Critical Success Factors PNJ company DOJI SJC Company

Weight Rating Score Rating Score Rating Score

Design and
0.25 4 1 4 1 4 1
Innovation

Brand
Image and 0.2 4 0.8 3 0.6 4 0.8
Reputation

Advertising
0.05 4 0.2 3 0.15 1 0.05
Critical Success Factors PNJ company DOJI SJC Company

Weight Rating Score Rating Score Rating Score

Market
0.1 3 0.3 2 0.2 2 0.2
Share

Price
Competitiv 0.05 3 0.15 4 0.2 2 0.1
e
Critical Success Factors PNJ company DOJI SJC Company

Weight Rating Score Rating Score Rating Score

Technology 0.15 3 0.45 4 0.6 3 0.45

Innovative
Customer 0.2 4 0.8 4 0.8 2 0.4
Engagement

Total 1 3.7 3.55 3

This CPM portrays the competitive scenarios of PNJ and its competitors in the
jewelry industry – DOJI and SJC. From this table. it is found that PNJ scores better
in Advertising & Market share. and assumes minor strength in Brand Image &
Reputation and Innovative Customer Engagement. However. PNJ has minor
weaknesses in Price competitive and Technology. As a whole. PNJ’s total score is
3.7 and on the other hand. Doji’s total score is 3.55 and SJC’s is 3. From this
competitive profile matrix. it is revealed that PNJ enjoys more competitive
advantages by 0.15 than Doji and by 0.7 than SJC.
 03
The Internal Audit
 The Internal Factor Evalution (IFE) Matrix
Buyer persona
Weighted
Key Internal Factors Information Weight Rating Bio
Score
Neptune is the farthest
Name Jenna Doe
planet from the Sun and
Strengths Age 35 the fourth-largest by
Education MBA diameter in the Solar
1. Productions/ Operation: System. It’s an ice giant
Occupation Director and was named after a
• Accounting for 27% of the brand jewelry group in
Location France 0.05 Roman 4 god 0.2
2023
• Jewelry revenue growing - an average of 18, 5%/year.
Personality
2. Human Management:
Introvert Extrovert Thinking Feeling
• A 14% reduction in absenteeism, and a 208% increase 0.1 3 0.3
in labor productivity Intuitive Sensing Judging Perceiving
 The Internal Factor Evalution (IFE) Matrix
Buyer persona
Key Internal Factors Information Weight RatingBio
Weighted
Score
Neptune is the farthest
Name Jenna Doe
planet from the Sun and
Strengths Age 35 the fourth-largest by
Education MBA diameter in the Solar
3. Technology: System. It’s an ice giant
Occupation Director and was named after a
• Apply cloud computing strategy : 220% cost
Location France Roman god
optimization compared to traditional SAP system 0.05 4 0.2
• increase response capacity 3-5 times, sales
performance 200%. Personality
Introvert Extrovert Thinking Feeling

Intuitive Sensing Judging Perceiving

 The Internal Factor Evalution (IFE) Matrix
Buyer persona
Information Weighted
Key Internal Factors Weight RatingBio
Score
Neptune is the farthest
Name Jenna Doe
planet from the Sun and
Strengths Age 35 the fourth-largest by
Education MBA diameter in the Solar
4. Marketing: System. It’s an ice giant
Occupation
• Sustainable development strategy with messages of Director and was named after a
Location
healthy living, beautiful living, honoring human France Roman god
beauty and life helped net revenue reach 2,960 billion 0.15 4 0.6
VND (up 42.3% over the same Personality
period) and profit after
tax reached 147 billion VND (up 22.7% over the same
Introvert Extrovert Thinking Feeling
period)
Intuitive Sensing Judging Perceiving
Buyer persona
Key Internal Factors Weight Rating
Weighted
Score
Information Bio
Weakness Neptune is the farthest
Name Jenna Doe
planet from the Sun and
1. Finance/ Accounting Functions:Age 35 the fourth-largest by
• Sales returns rate in the fourth quarter of 2023 MBA
Education diameter in the Solar
0.2 System. 2It’s an ice giant
0.4
increased by approximately 10,6% compared to the
Occupation Director and was named after a
same period of 2022
Location France Roman god
2. Cost/ Benefit Analysis:
Personality
• The average gross profit margin in January 2024
0.15 2 0.3
reached 17.2%, down from 18.2% in the same period
Introvert Extrovert Thinking Feeling
in 2023
Intuitive Sensing Judging Perceiving
Buyer persona
Key Internal Factors Weight Rating
Weighted
Score
Information Bio
Weakness Neptune is the farthest
Name Jenna Doe
planet from the Sun and
Age 35 the fourth-largest by
3. Selling Products & Services: diameter in the Solar
Education MBA
• PNJ has yet to achieve sufficiently large, professional
Occupation Director 0.1 System. It’s
1 an ice giant 0.1
advertising campaigns and has increased the brand and was named after a
presence across online mediaLocation
channels France Roman god

4. Production & Operations:

Personality
• A significant increase of approximately 4% in 2023 0.2 2 0.4
Introvert
compared to the figures of 2022. Extrovert Thinking Feeling

Intuitive Sensing Judging Perceiving

Buyer persona
Products
Type of Strategies
Time/Place Type of Strategies

All products of PNJ Information

2021 Bio
Forward Intergration

Neptune is the farthest

Name
Watch & high-end jewelry Jenna
2021 Doe Horizonal Intergration
planet from the Sun and
Age 35 the fourth-largest by
God of Weath and Valentine diameter in the Solar
Gold and Proposal Ring
Education MBA Market Penetration
Day - 2023 System. It’s an ice giant
Occupation Director and was named after a
Wedding Jewelry ‘TrầuLocation
cau France Roman god
2023 Product Development
PNJ’

All Products Personality 2023 Market Development

Introvert Extrovert Thinking Feeling
Style By PNJ: jewelry 2019 Related diversification
Intuitive Sensing Judging Perceiving