Assignment Brief (RQF)

Assignment Brief (RQF)-

Higher National Diploma in Business Management

Student Name/ID Number:

Unit Number and Title: Unit 32 – Business Strategy

Academic Year: 2022/2023

Unit Assessor: Soumitra Chowdhury

Assignment Title: VinFast: Strategy for the Vietnam market

Issue Date: 28th December 2022

Submission Date: 3rd March 2023

Internal Verifier Name: Dr. Nguyen Phan Anh Huy

Date: 26 December 2022

Submission Format:
The submission is in the form of an individual written report. This should be written in a concise,
formal business style using single spacing and font size 12. You are required to make use of
headings, paragraphs and subsections as appropriate, and all work must be supported with
research and referenced using the Harvard referencing system. Please also provide a
bibliography using the Harvard referencing system. The recommended word limit is 2,000–
2,500 words, although you will not be penalised for exceeding the total word limit.

Unit Learning Outcomes:

LO1 Analyse the impact and influence which the macro environment has on an organisation.
LO2 Assess an organisation’s internal environment and capabilities.
LO3 Evaluate and apply the outcomes of an analysis using Porter’s Five Forces model to a given
market sector.
LO4 Apply models, theories and concepts to assist with the understanding and interpretation of
strategic directions available to an organisation.

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Assignment Brief and Guidance:

Can Vietnam’s VinFast be the real contender to Tesla’s EV throne?

Posted on October 4, 2022 by ASEAN Briefing; Written by James Fox

Vietnam’s VinFast is among new entrants in the EV market, but with its lower-cost and
tech-heavy offerings, could pose a real threat to existing manufacturers. In September,
the company delivered the first batch of its electric SUVs.

VinFast is a private automotive company headquartered in Singapore, focusing on the

development of electric vehicles (EVs). Established in 2017, it is a part of the
Vietnamese conglomerate Vingroup.

Vingroup – established by Vietnam’s first billionaire, Phạm Nhật Vượng – is the largest
conglomerate in Vietnam with business spanning the technology, real estate
development, retail, and service sectors ranging from healthcare to hospitality.

The Singapore-headquartered firm is the first Vietnamese car brand to expand into
global markets, producing electric cars and electric scooters. In September, VinFast
began handing its first batch of 100 full-electric SUVs to local customers, with US
deliveries of the vehicle due to begin as soon as December.

However, VinFast has surprised many critics and commentators with the
competitiveness of its products. VinFast launched its first, non-electric, models in 2018 at
the Paris Motor Show and was awarded ‘A Star is Born’ by AUTOBEST. In 2021, VinFast
announced two all-electric premium SUVs – VF8 and VF9 – for the global market.

This raises the question, can VinFast ever challenge Tesla’s dominance in the fast-
growing EV sector? Tesla was among the first EV companies to emerge and has
established a certain dominance over the sector – even outselling electric offerings from
traditional/well-established car brands. In the first six months of 2022, Tesla’s EVs were,
by far, the best-sellers globally.

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The EV industry

VinFast is by no means the only contender to Tesla’s crown. The EV industry is fast
developing, and Tesla competes with established car manufacturers, such as
Volkswagen, Porsche, and the Jaguar Land Rover group, as well as newcomers such as
Rivian and NIO.

The expansion of supply reflects growing demand. In the UK, it’s projected that electric
cars will outsell diesel and mild hybrid diesel for the first time by the end of 2022.
Meanwhile, petrol is set to remain the most popular fuel choice for used car buyers for
the next few years.

The industry has also seen the rise of manufacturers in countries not traditionally known
for their motoring heritage. Chinese car brands had very little global recognition before
the electric vehicle revolution. Now, Chinese manufacturers, including BYD, NIO,
Xiaopeng, SAIC, and Geely, are among the largest EV producers globally.

For now, the biggest markets for EVs are Europe, notably in countries like Norway and
Iceland, where EVs outsell combustion engines, followed by China and the US. China is
a fast-growing market for EVs, but like the US, EV sales have barely scratched the
surface. In 2020, the share of EV sales as a percentage of new car sales was six percent
in China and two percent in the US.

Can VinFast prosper amid intense competition?

The Vingroup might be new to the EV industry, but it has lofty goals. The goal is to
manufacture around one million electric cars within the next five to six years. However,
that’s quite some going considering the company only manufactured 35,000 cars in
2021. As part of its ambitious growth plans, VinFast aims to be profitable within the next
three years, according to Chief Financial Officer David Mansfield.

During a media day in September, the company said it is moving rapidly to address
production issues with a large new factory in Haiphong, north of Hanoi that covers 84
hectares. Additionally, another new factory is planned for phased development in North
Carolina in the US with an initial US$2 billion investment. VinFast had purchased the
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Assignment Brief (RQF)

former Holden facility in Lang Lang, Victoria, before pulling out of the deal at the height of
the Covid-19 pandemic.

The company has surprised several automotive commentators with the attractiveness of
its EV offerings. VinFast has two models, the VF8, a mid-size eSUV, and the VF9, a full-
size eSUV. The VF8 has a range of 292 miles and starts at US$40,700 in the US with a
monthly battery subscription. The VF9 has an estimated range of 369 miles, with a
starting price of US$55,500, with a monthly battery subscription.

Both products have comparable ranges to their Tesla competitors but are being
marketed at considerably lower prices. Tesla’s Model Y has a 318-mile range and a
starting price of US$65,990. Meanwhile, the Model X has a 223-mile range and a
US$120,990 starting price.

VinFast’s EVs are also packed with futuristic features, including voice-activated windows
and temperature control, a sizeable screen, and other new-age devices. Using the inbuilt
sim card and the face recognition device on the steering wheel, drivers can even order
food from their cars.

Expanding to high-wealth western markets will be key to VinFast’s potential success.

While there might be a considerable market inside of China, even Chinese
manufacturers have been keen to expand their reach into Europe and North America.

Despite its nascency, VinFast is fast expanding. It may also be poised for greater
success in Western markets than in Chinese firms. Political tensions between Beijing
and the West have created an uncertain export environment for Chinese auto
manufacturers amid the ever-present threat of a worsening US-China trade war.

Supply chain development

In December 2021, Vingroup said that it had started building a US$174 million battery
cell plant in Ha Tinh province’s Vung Ang Economic Zone for its VinFast EV project.
During the first phase, the company is looking to produce 100,000 battery packs per year

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Assignment Brief (RQF)

before upping its capacity to one million. It is understood that the plant is unlikely to be
fully operational until 2025.

VinFast has also been expanding its network and supply chain in 2022. In September,
the firm signed an agreement with Renesas Electronics Corporation, a premier supplier
of advanced semiconductor solutions. Renesas will provide a broader range of products
to VinFast, which will include SoCs, microcontrollers, analog, and power semiconductors
in a move that VinFast says will support its expansion.

One factor that may aid the supply chain development is Vietnam’s potential emergence
as a nickel-mining hub. The state has a relative abundance of nickel and the surge in
demand for batteries has led to the reopening of nickel mines that had been closed due
to profitability issues.

Australian company Blackstone Minerals recently took over the Ta Khoa Nickel Project
(TKNP) in the country’s northern Son La province. The mines contain high-grade nickel
sulfide mineralization, which is in demand by the lithium-ion battery industry.

The real rival to Tesla?

While there is plenty of competition for Tesla and other EV-makers around the world,
VinFast has impressed critics with its offerings in the space and its ambition. The
Vietnamese firm appears to have all the tools to allow it to prosper, but only time will tell
how successful this emerging EV-maker will be.

While VinFast has cheaper offerings than Tesla and other brands, such as Porsche and
Mercedes – all of which are leading sector development – there are other companies,
such as MG, providing cheaper EV products. However, it appears that VinFast, with its
low-cost, tech-heavy EVs, may be well positioned to prosper.

(The case study is taken from https://www.aseanbriefing.com/news/can-vietnams-vinfast-be-the-real-

contender-to-teslas-ev-throne/ at 9.30 am on 8th October 2022.)

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Assignment Brief (RQF)

You are an assistant analyst working for a consultancy firm in Vietnam. You are required to write
a report on the business strategy of VinFast Vietnam.

Task 1: Analyse the impact and influence which the macro environment has on VinFast Vietnam.
Task 2: You are also asked to evaluate and apply the outcomes of an analysis using Porter’s Five
Forces model on VinFast Vietnam.
Task 3: Assess VinFast Vietnam’s internal environment and capabilities.
Task 4: Apply models, theories and concepts to assist with the understanding and interpretation of
strategic directions available to VinFast Vietnam.

PRESENTATION
1. The assignment should have a cover page that includes the assignment title, assignment
number, course title, module title, Lecturer/tutor name and student’s name. Attach all
the pages of assignment brief/achievement summary with your report and leave them blank
for official use.

2. Ensure that authenticity declaration has been signed.

3. This is an Individual assignment.

4. Content sheet with a list of all headings and page numbers.

5. A fully typed up professionally presented report document. Use 12 point Arial or Times New
Roman script.

6. Your assignment should be word-processed and should not exceed from 2,000 to 2,500 words
in length.

7. Use the Harvard referencing system.

8. Exhibits/appendices are outside this limit.

9. The assignment should contain a list of any references used in the report.

NOTES TO STUDENTS FOR SUMMISSION

 Check carefully the submission date and the instructions given with the assignment. Late
assignments will not be accepted.
 Ensure that you give yourself enough time to complete the assignment by the due date.
 Do not leave things such as printing to the last minute – excuses of this nature will not be
accepted for failure to hand-in the work on time.
 You must take responsibility for managing your own time effectively.
 If you are unable to hand in your assignment on time and have valid reasons such as illness,
you may apply (in writing) for an extension.
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Assignment Brief (RQF)

 Failure to achieve a PASS grade will results in a REFERRAL grade being given.
 Take great care that if you use other people’s work or ideas in your assignment, you properly
reference them in your text and any bibliography.
 NOTE: If you are caught plagiarizing, the University policies and procedures will apply.

Transferable skills and competencies:

 Analytical skills to conduct own analysis in order to draw conclusions.

 Providing information based on collation, analysis and interpretation of data.

 Creative thinking for presenting information and data in a simplified and informative
manner.

 Digital skills using different software applications to visually present information and data
concisely.

 Communicating effectively in all forms, written, visual and oral, for operating efficiently in
the international business environment.

Employability skills and academic study akills:

 Problem solving skills including critical thinking, usind expert and creative solutions to
solve non-routine problems, using systems and digital technoloy and generating and
communicating ideas creatively.

 Independent skills including self-management, adaptability and resilience, self-monitoring

and self-development, self-analysis and reflection, planning and prioritizing.

 Interpersonal skills including leadership skills, communicating effectively, working with

others, negotiating and influencing and presentation skills.

 Commercial skills including awareness of the business sector, sales & marketing, managing
and monitoring budgets.

 Business skills including awareness of types of companies and legal structures, invoicing,
presenting financial information and business management.

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Assignment Brief (RQF)

Learning Outcomes and Assessment Criteria

PASS MERIT DISTINCTION
LO1 Analyse the impact and influence which the macro
environment has on an organisation (Task 1) LO1, LO2, LO3 & LO4
P1 Applying appropriate M1 Critically analyse the macro
frameworks to analyse the environment to determine and D1 Critique and Interpret
macro environment for a inform strategic management information and data,
given organisation. decisions. applying environmental
and competitive analysis
LO2 Assess an organisation’s internal environment and to produce a set of valid
capabilities (Task 3) strategic directions,
P2 Using appropriate M2 Critically analyse the internal objectives and tactical
frameworks analyse the environment to assess strengths actions.
internal environment and and weaknesses of an
capabilities of a given organisation’s internal capabilities,
organisation. structure and skill set.
LO3 Evaluate and apply the outcomes of an analysis using
Porter’s Five Forces model to a given market sector (Task 2)
P3 Applying Porter’s Five M3 Devise appropriate strategies
Forces model to evaluate the to improve competitive edge and
competitive forces of a given market position based on the
market sector for an outcomes.
organisation.

LO4 Apply models, theories and concepts to assist with the

understanding and interpretation of strategic directions
available to an organisation (Task 4)
P4 Applying a range of M4 Produce a strategic
theories, concepts and management plan that has tangible
models, interpret and devise and tactical strategic priorities and
strategic planning for a given objectives.
organisation.

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Assignment Brief (RQF)

STUDENT ASSESSMENT SUBMISSION AND DECLARATION

When submitting evidence for assessment, each student must sign a declaration confirming that the
work is their own.
Student name: Assessor name:
Soumitra Chowdhury

Issue date: Submission date: Submitted on:

20h December 2022 3rd March 2022

Programme:
Pearson BTEC Higher National Diploma in Business

Unit 32: Business Strategy

Assignment number and title: Final Assignment (weight 100%)

VinFast: Strategy for the Vietnam market

Plagiarism
Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and students who
break the rules, however innocently, may be penalised. It is your responsibility to ensure that you
understand correct referencing practices. As a university level student, you are expected to use
appropriate references throughout and keep carefully detailed notes of all your sources of materials
for material you have used in your work, including any material downloaded from the Internet. Please
consult the relevant unit lecturer or your course tutor if you need any further advice.

Student Declaration

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

Student signature: Date:

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 Assignment Brief (RQF)

Achievement Summary

In this assessment, you will have Achieved?

Assessm (Tick)
Learning the opportunity to present
Learning outcome ent
Outcome evidence that shows you are able First IV
Criteria Rework
to: Attempt Check

Applying appropriate frameworks

P1 to analyse the macro environment
Analyse the impact
and influence which for a given organisation.
LO1
the macro
(Task 1) environment has on Critically analyse the macro
an organisation environment to determine and
M1 inform strategic management
decisions.
Using appropriate frameworks
analyse the internal environment
P2 and capabilities of a given
Assess an organisation.
LO2 organisation’s
Critically analyse the internal
(Task 3) internal environment environment to assess strengths and
and capabilities.
M2 weaknesses of an organisation’s
internal capabilities, structure and
skill set.
Applying Porter’s Five Forces
Evaluate and apply model to evaluate the competitive
P3 forces of a given market sector for
the outcomes of an
LO3 analysis using an organisation.
(Task 2) Porter’s Five Forces Devise appropriate strategies to
model to a given improve competitive edge and
market sector. M3 market position based on the
outcomes.

Apply models, Applying a range of theories,

theories and concepts concepts and models, interpret and
P4 devise strategic planning for a given
to assist with the
LO4 understanding and organisation.
(Task 4) interpretation of
strategic directions Produce a strategic management
available to an M4 plan that has tangible and tactical
organisation. strategic priorities and objectives.

Critique and Interpret information

and data, applying environmental
LO1 – LO4 D1 and competitive analysis to produce
a set of valid strategic directions,
objectives and tactical actions.

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 Assignment Brief (RQF)

Higher Nationals - Summative Assignment Feedback Form

Student Name/ID
Unit Title Unit 32 – Business Strategy

Assignment Number Final Assignment Assessor name Soumitra Chowdhury

rd
3 March 2023 Date Received 1st
Submission Date
submission
Date Received 2nd
Re-submission Date
submission
Assessor Feedback:

Grade: Assessor Signature: Date:

Resubmission Feedback:

Grade: Assessor Signature: Date:

Internal Verifier’s Comments:

IV Signature & Date:

* Please note that grade decisions are provisional. They are only confirmed once internal and
external moderation has taken place and grades decisions have been agreed at the assessment board.

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