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Using Hoffer matrix in strategic business analysis for Nguyen Hoang Group in
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International Journal of Multidisciplinary Research and Growth Evaluation www.allmultidisciplinaryjournal.com

International Journal of Multidisciplinary Research and Growth Evaluation

ISSN: 2582-7138
Received: 24-05-2021; Accepted: 15-06-2021
www.allmultidisciplinaryjournal.com
Volume 2; Issue 4; July-August 2021; Page No. 61-66

Using Hoffer matrix in strategic business analysis for Nguyen Hoang Group in Vietnam
Dinh Ba Hung Anh 1, Nguyen Hoang Tien 2
1-3
Department of Finance and Marketing, Van Hien University, Ho Chi Minh, Vietnam
Corresponding Author: Dinh Ba Hung Anh

Abstract
In today's economy, there are many fluctuations, especially analysis is extremely important before making an
and the strongest impact on the economy today is the Covid- implementation decision. And there are plenty of business
19 pandemic, which has caused a significant decline in many analytics matrices out there, each with their own pros and
economies, even the world's leading economies such as the cons. We will use the Hofer matrix, which analyzes the pros
US, China, and Japan are also significantly affected. In many and cons of the strategy and helps the business to increase its
respects, education is perhaps the most stable, although position. How effective is the analysis and effectiveness of
affected by other factors. But that does not mean that the field the matrix? We will learn based on the application of Hofer
is not affected by unexpected factors. As we can clearly see matrix to analyze the business strategy of an educational
many educational corporations have gradually shifted their group, which is Nguyen Hoang Group. One of the famous
business strategies to fit the current times. But how, to know educational corporations and also has many business
if your business strategy will bring business efficiency to the strategies worth learning.
business or not. Therefore, the use of matrices for strategy

Keywords: business analysis, Hoffer matrix, Nguyen Hoang Group

1. Introduction
Urgency of the research problem
In the midst of the world is constantly upgrading and improving the quality of education today's educational corporations. The
application of reasonable business analysis matrices will help businesses clearly identify the advantages and disadvantages of
their business strategies. But there are many matrices with their own differences and ways of analyzing strategies, making
strategies as optimized as possible when businesses use the right roles and functions from the matrices. Especially as the Hofer
business analysis matrix. Although not a new matrix, it is still an effective matrix in analyzing the pros and cons of the elements
in a business strategy. To help increase the position of the business. Therefore, for a well-known educational group like Nguyen
Hoang Group. The analysis of the topic "Business analysis of Nguyen Hoang Group using Hofer matrix" has practical
significance, both theoretical and practical, contributing to the effectiveness of business strategies using magic. Battle of Hofer
brought.

The significance of the study for management practice

The research topic has practical significance in strategic management. The results obtained from the analysis of the topic bring
practical values in management to improve the effectiveness of business strategies and increase the competitive position of
enterprises.

Objectives of the study

The research objective of the topic is to analyze opportunities and challenges for businesses of Nguyen Hoang Group when using
Hofer matrix in business. From there, businesses will be able to learn from existing challenges and be ready to have new
strategies to seize upcoming opportunities. Propose solutions to help businesses overcome weaknesses when using Hofer matrix
in business. Especially in the post-Covid era with many changes like the present.

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International Journal of Multidisciplinary Research and Growth Evaluation www.allmultidisciplinaryjournal.com

2. Theoretical Basis to help strategists objectively decide which of the likely

2.1. Several business analysis matrices alternatives is the best strategy. most attractive and worthy
EFE Matrix for businesses to pursue in order to successfully realize their
EFE stands for External Factor Evaluation Matrix, that is, the goals.
evaluation matrix of external factors or the evaluation matrix
of external factors. The EFE matrix is a matrix that helps CPM Matrix
analyze the external business environment with factors at the The Competitive Profile Matrix (CPM) is a tool compares the
levels of the world environment, macro environment and company and its competitors and reveals the strengths and
industry environment. weaknesses of their relative.

Matrix IFE 2.2. Hoffer Matrix

The IFE is the Internal Factor Evaluation Matrix. The IFE The Hofer matrix is based on the thinking and theory of the
matrix is used to summarize and evaluate the important SWOT matrix, instead of factors S (strengths), W
strengths and weaknesses of functional business segments, (weaknesses), Opportunities (O), threats (T) belonging to the
and it also provides a basis for defining and evaluating the industry or business environment, unlike BCG which
relationships between these segments. includes the industry growth rate and equivalent market share
of the required business unit, constitutes two groups of
BCG Matrix factors that are related to industry development and the
The BCG Growth Sharing Matrix was developed entity's competitive position business. The Hofer matrix will
by Henderson of the BCG group in the 1970s. The BCG overcome some of the favorite points of the McKinsey matrix
Matrix stands for Boston Consulting Group. BCG matrix that are not interested in changing the competitive advantage
theory is built to help businesses orient their market share of the units but depending on the development stage of the
growth strategy by putting product categories into 4 groups, industry.
determining the position of these products in the market to
bring them to market. make investment or exit decisions. The steps of Hofer matrix analysis include
Step 1: Identify the SUBs to analyze
McKinsey Matrix Step 2: Evaluate the prospects of SUB according to the
The McKinsey matrix is a more flexible, multifactor portfolio following criteria:
analysis model than the BCG matrix. This matrix allows  Competitive position of SUB.
businesses to apply assessment of the appropriateness  The development stages of the industry (star, question
between their capabilities and production and business mark, Cow, Dog).
activities of products and services, and at the same time helps Step 3: Classify the SUBs on the matrix.
to predict the location of products/services, facilitating Step 4: Develop strategic goals for each type of SUB.
strategic planning.
Description of the Hofer matrix
SWOT Matrix  The vertical axis (Y) is the development stages of the
SWOT is an English abbreviation of four words: Strengths, industry. Includes stages: embryo (PT), growth (TT),
Weaknesses, Opportunities and Threats. The SWOT model is competition (CT), maturity (CM), decline (ST).
a tool to help provide an overview for analysis used in  The horizontal axis (X) is the competitive position of an
business planning, strategy formulation, competitor entity. Including factors: High (C), medium (TB), low
assessment, marketing, product and service development. (T).
The SWOT model is often used at the beginning of a business'
marketing plan. Based on the description of the Hofer matrix, the units are
classified into the SB U group as follows
Hofer Matrix SB U (C, PT), SBU (C, TT) - considered as star SBU.
Hofer matrix is one of the tools used to determine the SB U (T, TT), SB U (T, ST) - known as SBU dog.
assessment of a company's competitive position, which is SB U (C, CT) - referred to as SBU “?".
determined by internal and external factors. The 15- SB U (C, CM) - considered SBU dairy cows.
square matrix is an evolution of the ADL and McKinsey The establishment of SBU needs to have the right strategies
matrices and is particularly useful when analyzing strategic and suitable for the type of organization of the business and
diversity entities. The matrix is created on the basis of two the environment of the macro. Establish a strategy to
criteria: the maturity of the industry, which is divided into maintain business unit organization at SB U (C,
five stages, and the competitive position of companies in the PT), SB U (C, TT) levels. It is necessary to establish a strong
industry. In this way, circles are created, representing investment strategy in SUB (C, CT) to become the type of
different areas of activity within the company, and the size of enterprise located in the star SB U position. Earn profits
the circle is proportional to the size of the from SB U (C, CM) businesses. Give up the SBU (T, TT) and
industry. Sometimes segments can be added to the circle, SBU (T, ST) because then these SBU are no longer able to
reflecting the company's market share in the field. generate profits for the business.

QSPM Matrix 2.3. Strengths and weaknesses of the Hoffer matrix

QSPM matrix or quantifiable strategic planning matrix in Strengths: Business architecture can be evaluated and
English is Quantitative Strategic Planning Matrix, changed through stages of development of the industry.
abbreviated as QSPM Matrix. The QSPM matrix uses inputs  Analysis of activities on multiple outsource of different
from the analyzes at the IFE and EFE matrix formation steps companies.

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International Journal of Multidisciplinary Research and Growth Evaluation www.allmultidisciplinaryjournal.com

 As GDP per capita increase, Vietnam's contribution to necessary to clearly define the appropriate methods of data
international organizations to which Vietnam is now a collection, as the basis for planning the data collection in a
member may increase. Economic incentives from scientific way, in order to achieve the highest efficiency of
international financial institutions will no longer be the this important period. Information sources are collected from
same as in previous years, lending policies to Vietnam newspapers, specialized magazines, educational textbooks
will also change such as ODA loans, preferential loans and sources from the Internet.
will be stricter.
 Enterprises must flexibly adjust products according to 3.2. Research Methods
consumer needs, integrate advanced technologies to Using research methods to exploit secondary sources of
minimize production processes, reduce delivery times, information, based on inheritance of existing studies on
shorten product life cycles but still ensure the ability education in Ho Chi Minh City in general, and the
manage production and product quality, increase infrastructure of education in particular and other educational
competitiveness institutions, other relevant documents.
 Promote the development of production and business Theoretical analysis and synthesis method, analytical studies
solutions based on digitization integrated with sensor study different documents and theories by breaking them
systems, control systems, communication networks for down into parts to better understand modern education and
business. classical education. Summary is linked on each side, a piece
 Develop new skills for individuals as well as for of information has been analyzed to create a complete and
the organization; participate and effectively use the profound new theoretical system of modern education.
intelligent supply chain created from the 4.0 industrial Comparative method, Since February this year is generally
revolution. different from the previous year when the impact of the
 Show profitable investment relationships in different Covid-19 epidemic was too great on Vietnam's education and
fields. training, all levels of education are the same transition from
 Indicates changes towards an optimal business structure. teaching at school to an online format. At the beginning of
 The reduced leverage ratio leads to the ability to select the second quarter, most of Nguyen Hoang Group's schools
more necessary projects with good efficiency that were were stable again because Vietnam has controlled Covid-19.
previously eliminated because investment would cause
public debt to exceed the ceiling. 3.3 Research Process
 Build a lean and efficient operation apparatus and In the field of Social Sciences and Humanities alone,
arrange the right workforce with the right people to statistics on productivity and output are more limited. When
ensure the highest labor productivity. researching on labor productivity of social sciences
researchers in Vietnam based on SSHPA database, with
Weaknesses: not only the development of new industry structure and technical specifications presented in Vuong et
expressed its attractiveness. al. (2018), as of May 5, 2019, only 2443 international
 When the number of SBUs is too large, operating in publications by 1445 Vietnamese authors have been
many different fields, it is a step to create solutions to recorded. This means the scientific productivity average 1
solve strategic problems for the whole corporation, not author Vie t in Social Sciences and Humanities through the
to solve all profit problems like ordinary companies. is stage 11 years is very low compared to the overall study in
often different, therefore, it is listed in the overall the country, in particular with the industry prospect and
strategic segment of the parent company, which is now engineering - technology. Total annual output of the social
called a corporation or group. sciences and humanities sector in the period 2008 - 2019
 Having a mistake in the organization process, you cannot (May 5). Although the growth rate is quite steady, it takes up
come up with a specific strategy for each product, and to 5 years for the annual output to have a noticeable
there is no way to have enough time to create and change. Between 2014 and 2018 alone, total production
innovate. nearly doubled from the previous six years.
 When the SBU includes a number of related fields, by On the threshold of international integration with the
dividing the product into an independent SBU, the knowledge and sharing economy, it is not surprising that
person responsible for the product will organize the Vietnamese universities take the lead in reforming education,
accounting, marketing, sales. Therefore, strategic through improving their research capacity and international
business units are very important publication avoidable. Currently, a series of universities such
 When the SBUs have a strategic relationship with each as Nguyen Tat Thanh University, Duy Tan University, Ton
other, all the time is used only to process the current Duc Thang University, or Phenikaa University are
work, not to expand. accelerating on the research front, including the association.
Research results with financial benefits for international
3. Research Methods publications amounting to hundreds of millions of VND
3.1. Data sources and methods of collection (Hung, 2019) show a significant change.
Research methods are used such as statistical methods, In the context of integration and development, strengthening
synthesis, comparison, literature review. Statistical method, international cooperation is a specific direction for
data collection on the education and training situation taking Vietnamese researchers to learn from international standards.
place in the first 2 quarters of 2020 and current operational However, domestic universities do not for that reason ignore
data to compare with the education and training of the the development of internal strength, ensure and promote the
previous quarters before. Data collection is a very important requirements of quality and scientific investment efficiency,
step in the research process. However, data collection is often based on international standards.
time-consuming, labor-intensive and costly. Therefore, it is

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International Journal of Multidisciplinary Research and Growth Evaluation www.allmultidisciplinaryjournal.com

4. Research Results and Discussions students in a closed training system from preschool to
4.1. Business analysis for NHG using Hoffer matrix doctoral level. System of 7 educational brands. Nguyen
A. Established the international integration school iSchool Hoang's 5-year strategic vision, period 2019-2024 is to
(2008) continue to be the leader in the private education market and
B. Operating Saigon Academy International Kindergarten international schools in Vietnam, owning over 150
in Ho Chi Minh City educational institutions, 10 educational cities international
C. Founding UK Academy (2016) IEC, 200,000 students, 15,000 Professors, PhDs, Masters,
D. Taking over Hong Bang International University (2015), lecturers, teachers, senior management, educational support
Gia Dinh University, Hoa Sen University, BR-VT staff at home and abroad. Currently, in Nguyen Hoang's
University hands, there is the Saigon Academy-SGA International
E. Cooperating with Junior Achievement Worldwide (JA) Kindergarten system that trains children from 0-6 years old
to launch 10 start-up finance programs with 7 campuses in Ho Chi Minh City. The international
F. Opening the first IEC in Quang Ngai integration school system iSchool provides inter-level
G. Computer distribution business training from preschool to high school with 13 campuses
located in Ha Tinh, Quang Tri, Binh Dinh, Khanh Hoa, Ninh
Nguyen Hoang Group from a business developing Thuan, Ho Chi Minh City, Long An, Tra Vinh, Soc Moon,
information technology, distributing computers, they turned Kien Giang, An Giang, Bac Lieu. The system of bilingual
to the path of education in 2008 with the goal of creating a international schools British Academy - UK Academy,
complete international standard education ecosystem, from providing inter-level training from preschool, primary school
preschool to doctorate, from international integration model, and high school. UK Academy has campuses in Ba Ria-Vung
international bilingual model to fully international Tau and Binh Thanh District, HCMC. The North American
model. The general education system includes 3 brands International School System-SNA provides training from
iSchool, UK Academy, and SNA and the university level Kindergarten to Grade 12 with a high-quality international
includes Ba Ria-Vung Tau, Hong Bang, Gia Dinh and Hoa standard program. The head office is located at Him Lam
Sen universities. Residential Area, Binh Hung Commune, Binh Chanh
From the success of the iSchool system in the West to meet District, Ho Chi Minh City.
the children of well-off families in the locality, in 2011 At the undergraduate level, NHG has Ba Ria-Vung Tau
Nguyen Hoang Group put into operation Saigon Academy University, Gia Dinh University of Information Technology
International Kindergarten in Ho Chi Minh City and quickly and Hong Bang International University. In the field of
expanded establishments in provinces and cities. Depending studying abroad, Nguyen Hoang has the Institute for
on the local socio-economic conditions, Nguyen Hoang International Cooperation and Study Abroad-iStudent. Not to
Group invests in different models, for example, iSchool has mention, besides Hoa Sen, Nguyen Hoang is negotiating to
a relatively affordable tuition fee for the majority, higher than acquire another private university in Ho Chi Minh City. At
the bilingual international school system. UK Academy), and the same time, opening a branch of an international university
higher is the International School of North America (SNA). in Vietnam.
In the near future, NHG will conduct research on valuable
4.2. Discuss the results of the above business analysis educational data sources that ACE opens to members,
After 20 years of operation, Nguyen Hoang Group is the continuously participate in activities to exchange expertise
largest private enterprise in the field of education in and leadership experiences, such as: Leadership training
Vietnam. Revenue in 2018 was VND 4,000 billion, according program, principal's conference, annual educational
to self-disclosure information. Nguyen Hoang is operating 50 conference. Through this, NHG can introduce Vietnam's
educational institutions in 18 provinces and cities, meeting private education, approach potential partners, and prepare
the learning needs of about 50,000 learners, from preschool willing to cooperate to open up common development
to postgraduate training. As of July 2019, four universities of opportunities, for an advanced, modern and global education.
Nguyen Hoang Group including Ba Ria - Vung Tau, Hong
Bang, Gia Dinh, Hoa Sen have attracted nearly 50,000 4.3. Proposal to improve the Hoffer matrix
students. The general education system consisting of three  Taking over Hong Bang International University (2015),
brands iSchool, UK Academy and SNA is meeting the Gia Dinh University, Hoa Sen University, BR-VT
learning needs of more than 15,000 students, of which 70% University are in a strong position, enterprises must be
attend 34 campuses in 18 provinces and cities. Eight aware of the right business environment to develop and
campuses of Saigon Academy attract 1,500 children of not stop improving the business environment for
preschool age. About 5 years ago, Nguyen Hoang sustainable growth.
participated in many M&A deals in education. In 2015, they  Established iSchool (2008), Cooperated with Junior
acquired shares of Hong Bang International University. In Achievement Worldwide (JA) to deploy 10 finance-
2018, they acquired Gia Dinh University, and then Hoa Sen start-up programs, opened the first IEC in Quang Ngai
University. which is in the infancy stage of business penetration.
Nguyen Hoang is a pioneer enterprise to launch an education Businesses need to practically apply the profit categories
city model, where all kinds of schools from preschool to high of the market economy in order to evaluate and choose
school are concentrated. “In the next 5 years, Nguyen Hoang the right plan.
aims to own more than 150 schools, 10 educational cities,  Operating Saigon Academy International Kindergarten
continue to be the leader in the private education market in in Ho Chi Minh City, establishing UK Academy (2016)
Vietnam”. Up to now, Nguyen Hoang Group has invested in is in the stage of penetration and development, it is
building and operating nearly 40 educational institutions in necessary to have a clear development plan to improve
15 provinces and cities, training nearly 40,000 pupils and the quality.

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International Journal of Multidisciplinary Research and Growth Evaluation www.allmultidisciplinaryjournal.com

 Computer distribution business is in recession, it is For leaders of the rest of NHG's business units
necessary to find out the weak points, redefine the NHG gathers high-quality human resources, including many
strategy, make the right decision whether to phase out or senior personnel, experienced experts in all fields. Although
not. converging from many different environments with different
capacities and experiences, the members of NHG's
5. Conclusions and Recommendations committee all share the same passion and enthusiasm to
5.1. Conclusions accompany and join forces with NHG on the journey of
Enterprises using Hofer matrix for analysis will help build spreading knowledge.
business strategies through studying the internal and external  Board of Directors
environment. However, the disadvantage of this matrix is that  Boards of directors
the strategies built are general and relative  Management boards of university blocks
Through the analysis of the Hofer matrix, the company can  Board of Directors of the Central Institute of Hoa Sen
clearly understand the strengths and weaknesses of the University (HSU)
business to help the enterprise build business strategies that  The Board of Directors of the Central Institute of Hong
are suitable for its existing resources, helping the company to Ban University (HIU)
allocate resources appropriately for the strategies business  Management Board of Central Drilling Institute of Ba
strategy in line with its existing resources, helping the Ria-Vung Tau University (BVU)
company to allocate resources reasonably for all business  The Board of Directors of the Central Institute of Gia
strategies Dinh University (GDU)
Besides, the Hofer matrix also offers plans to use strengths to  Management Board of Block K-12
exploit opportunities and limit challenges of the business  Board of Directors of IEC Quang Ngai
environment to overcome their weaknesses.
Nguyen Hoang Group is an enterprise that has affirmed its 5.3. Solution for coordination between universities and
solid brand in the domestic market. With a clear development the rest of NHG's business units
strategy and developing future growth and development NHG Education Group currently has more than 4,000
projects employees. Most of these are lecturers, teachers, high-level
With the Covid-19 epidemic still happening in the world and human resources, many of which have master's degrees,
there has been no announcement that this pandemic will end professors, doctorates, leading experts. Although converging
completely, in Vietnam, the Covid-19 epidemic is entering from many different environments, different capacities and
the post-production stage. This is also the period for aspirations, all of them share the same passion, accompany
businesses to come back and overcome the crisis that has and contribute to NHG on the journey of knowledge sharing.
lasted for the past few months. NHG's faculty - teachers are the bridge, concretizing
It can be seen that, although it has entered the post-Covid-19 investment strategies, implementing the Humanist
era, businesses have encountered many difficulties and educational philosophy, directly training generations of all-
challenges from the Covid epidemic, the complete decline in round students, bringing the quality of education to the world
corporate finance, changes in personnel or changes in the creating NHG to reach the international level.
purchasing needs of customers. Customers are the challenges NHG is considering developing the International Education
that businesses face. City project to create links between schools and NHG's
business units such as Hoa Sen University, Hong Bang
5.2. Recommendations and suggestions International University, Gia Dinh University in the
For leaders of NHG provinces: Dak Lak, Hai Phong, Quang Ngai.
 Perfecting mechanisms and policies related to reality
such as tax policies, costs, forms of education. Acknowledgement: We acknowledge the support of time
 Need specific policies on transparency and transparency and facilities from Van Hien University (VHU) for this study.
in education-related issues
 The State needs to set up a fund, introduce policies to References
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