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Luận văn thạc sĩ UEB innovating business model by using business model canvas the case of phuc hung
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ĐẠI HỌC QUỐC GIA HÀ NỘI
KHOA QUẢN TRỊ VÀ KINH DOANH
---------------------
NGÔ QUỐC ANH
INNOVATING BUSINESS MODEL
BY USING BUSINESS MODEL CANVAS:
THE CASE OF PHUC HUNG HOLDINGS J.S.C
ĐỔI MỚI MÔ HÌNH KINH DOANH BẰNG CÔNG CỤ
MÔ HÌNH KINH DOANH CANVAS:
TRƯỜNG HỢP CỦA PHỤC HƯNG HOLDINGS
LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH
Hà Nội - 2017
ĐẠI HỌC QUỐC GIA HÀ NỘI
KHOA QUẢN TRỊ VÀ KINH DOANH
---------------------
NGÔ QUỐC ANH
INNOVATING BUSINESS MODEL
BY USING BUSINESS MODEL CANVAS:
THE CASE OF PHUC HUNG HOLDINGS J.S.C
ĐỔI MỚI MÔ HÌNH KINH DOANH BẰNG CÔNG CỤ
MÔ HÌNH KINH DOANH CANVAS:
TRƯỜNG HỢP CỦA PHỤC HƯNG HOLDINGS
Chuyên ngành: Quản trị kinh doanh
Mã số: 60 34 01 02
LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH
NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. NGÔ VI DŨNG
Hà Nội - 2017
DECLARATION
The author confirms that the research outcome in the thesis is the result of author’s
independent work during study and research period and it is not yet published in other’s
research and article.
The other’s research result and documentation (extraction, table, figure, formula,
and other document) used in the thesis are cited properly and the permission (if required) is
given.
The author is responsible in front of the Thesis Assessment Committee, Hanoi
School of Business and Management, and the laws for above-mentioned declaration.
Date: 30th September, 2017.
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ACKNOWLEDGEMENT
I would like to acknowledge my advisor PhD. Ngo Vi Dung for his wealthy
advices. He has guided and promptly given me a lot of instructions and comments in order
to help me moving forward with the right direction to the completion of my final research.
I would like to express my deeply thank to PhD. Ngo Vi Dung for his support since
the beginning of my research that was selecting the very interesting research topic, then
going through research outline, until the end of this research. From this research, I can
have a deep understanding of business administration in general and innovative business
model of a business firm in particular.
I would like to thank everyone who are Phuc Hung’s staffs and Phuc Hung’s
customers, who have assisted me to be fulfillment with this research’s aims and scopes.
They also have spent a lot of their time with my team for the interview that my team was
able to collect necessary answers serving for analyzing of current performance of Phuc
Hung, as well as external environment factors affecting Phuc Hung’s business model.
In addition, I would like to express my special thank to every member of the team
who took part in and supported me in every study activities during implementation of the
research. Without their support, I was not able to complete my assignment of the research
study.
Because limited time and ability so it cannot avoid some mistakes in my research. I
look forward to receiving comments from lecturers and colleagues in order have more
completed and better achieved of research result.
Date: 30th September, 2017.
Ngo Quoc Anh
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CONTENT
CHAPTER 1. INTRODUCTION........................................................................................................1
1.1. Rationale........................................................................................................................................ 1
1.2. Literature review.........................................................................................................................5
1.3. Aims of research..........................................................................................................................6
1.4. Object of research........................................................................................................................6
1.5. Scope of research.........................................................................................................................6
1.6. Thesis structure............................................................................................................................6
CHAPTER 2. THEORETICAL BACKGROUND..........................................................................7
2.1. Definition of Business Model...................................................................................................7
2.2. Business Model Canvas and Value Proposition Design.....................................................8
2.2.1. Business Model Canvas.....................................................................................................8
2.2.2. Successful application of using Business Model Canvas........................................10
2.2.3. Value Propositions Design..............................................................................................11
2.2.4. Innovating Business Model.............................................................................................13
2.2.5. Summary of research theoretical background............................................................14
CHAPTER 3. RESEARCH METHODS.........................................................................................15
3.1. Research strategy......................................................................................................................15
3.2. Data collection methods..........................................................................................................15
3.2.1. Internal Interview Form...................................................................................................15
3.2.2. Customer Interview Form...............................................................................................15
3.3. Research Process.......................................................................................................................16
3.3.1. Assemble team...................................................................................................................17
3.3.2. Preliminary ideas...............................................................................................................17
3.3.3. Internal interview..............................................................................................................18
3.3.4. Customer interview...........................................................................................................18
3.3.5. Group discussion...............................................................................................................19
3.3.6. Design Innovating Business Model..............................................................................20
3.3.7. Prototype.............................................................................................................................20
CHAPTER 4. RESEARCH RESULTS............................................................................................21
4.1. Overview of Vietnam’s Construction Industry...................................................................21
4.1.1. History..................................................................................................................................21
4.1.2. Character.............................................................................................................................21
4.1.3. Local Key Players.............................................................................................................22
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4.2. Introduction of Phuc Hung.....................................................................................................23
4.3. Key players’ current business models: Classification, Strength and Weakness.........25
4.3.1. Classification......................................................................................................................25
4.3.2. Current business models of key players.......................................................................26
4.3.3. Strength................................................................................................................................27
4.3.4. Weakness.............................................................................................................................28
4.4. Phuc Hung’s current business model: Characteristics and Performance.....................28
4.4.1. Characteristics of Phuc Hung’s existing business model.........................................28
4.4.2. Performance of Phuc Hung’s current business model..............................................30
4.4.3. Phuc Hung’s existing business model: Strength and weakness..............................31
4.5. Innovating Phuc Hung’s business model.............................................................................32
4.5.1. Study external environment............................................................................................32
4.5.2. Collection of ideas and opinions....................................................................................39
4.5.3. Design Business Models..................................................................................................40
4.5.4. Select the most satisfactory Business model..............................................................52
4.5.5. Innovating Business Model Discussion.......................................................................55
4.5.6. Recommendation...............................................................................................................56
CHAPTER 5. CONCLUSION, LIMITATION AND IMPLICATION.....................................58
5.1. Conclusion..................................................................................................................................58
5.2. Limitation.................................................................................................................................... 59
5.3. Implication..................................................................................................................................60
REFERENCES...................................................................................................................................... 61
APPENDIX A: INTERNAL INTERVIEW FORM......................................................................63
APPENDIX B: CUSTOMER INTERVIEW FORM....................................................................68
APPENDIX C: INNOVATIVE BUSINESS MODEL CANVAS..............................................71
APPENDIX D: “FIT MAP” CALCULATION SHEET...............................................................74
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ABBREVIATION
GDP:
WTO:
TPP:
FTA:
Gross Domestic Product
World Trade Organization
Trans-Pacific Strategic Economic Partnership Agreement
Free Trade Agreement
BP: Private Public Partners
FDI:
GSO:
MOC:
HNX:
CEO:
VND:
FPTS:
ROE:
ROA:
DBB:
DB:
EPC:
BIM:
ERP:
Foreign Direct Investment
General Statistics Office of Vietnam
Ministry of Construction
Hanoi Exchange Market
Chief Executive Officer
Vietnamese Dong
FPT Security
Return On Equity
Return On Assets
Design – Bid – Build
Design and Build
Engineering – Procurement – Construction
Building Information Modeling
Enterprise Resource Planning
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LIST OF FIGURES
Figure 2.1: A business model – a link between strategy and operations
Figure 2.2: Business Model Canvas
Figure 2.3: Value Proposition Canvas
Figure 3.1: Flowchart of the Research’s process
LIST OF TABLES
Table 4.1: Phuc Hung’s finance performance of 2013, 2014 and 2015
Table 4.2: Customer Profile ranking result
Table 4.3: Value Map ranking result of “Resource Driven” business model
Table 4.4: Value Map ranking result of “Offer Driven” business model
Table 4.5: Value Map ranking result of “Customer Driven” business model
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