Official Research Model on Nlct of Ben Tre Tourism Enterprises

Competitiveness of Ben Tre Tourism Enterprise

Marketing Capacity

Trademark

Organizational and management capacity

Social Responsibility

Product and service quality

Human resources

- Model of author Nguyen Thanh Long (2016), studying factors affecting the competitiveness of Ben Tre tourism enterprises:

Local People Policy Mechanism

Natural environment

Price competition

Destination environmental conditions

Figure 1.5: Official research model on NLCT of Ben Tre tourism enterprises

(Source: Nguyen Thanh Long, 2016)

1.2.2. Model for measuring internal factors affecting the competitiveness of financial leasing companies

- With research by RKND DARSHANI (2013)

Rent

New technological advances

Competitiveness

Quality of service

Promotional efforts

Figure 1.6: NLCT model of Bank Of Ceylon Leasing-Sri Lanka

(Source: RKND DARSHANI, 2013)

Capacity Service Quality

Financial Capacity

Management and Executive Capacity

NLCT of financial leasing company in Ho Chi Minh City

Competitive Interest Rates

Capacity, Reputation, Brand

Technology Capability

Network Development Capability

- Research model of Hoang Thi Thanh Hang (2013)

Human Resource Capacity

Product Capability

Marketing Capacity

Maybe you are interested!

Figure 1.7: Model of internal factors affecting the competitiveness of CTTC companies - According to the model proposed by Thompson - Strickland (2007)

(Source: Hoang Thi Thanh Hang, 2013)

1.3. Review previous studies and identify research gaps

- For studies on competitiveness:

With foreign studies, the concepts and viewpoints on competitiveness have been summarized. In which, the viewpoints of schools with multi-dimensional views through each stage, with the thinking of research schools in the economic field, especially the most general about competitiveness or competitiveness at the national and corporate levels. Also in the research of scientists according to the viewpoints, it has shown important factors that impact or influence the competitiveness of a country, a company in different industries. The studies have also affirmed that competitiveness is inevitable, for

business activities of the company. From there, it is necessary to find out which internal factors affect the competitiveness of the companies, which are the important factors, which can be said to be the hinge for the research on competitiveness in the author's topic. However, the studies have not really provided a specific model with internal factors affecting the competitiveness of enterprises, to confirm the completeness and basis for the research on competitiveness of an enterprise. Most of the research works only raise general issues about factors, such as: Human resources, Capital, Marketing, Service quality, Product quality, Technology, Management, ... are internal factors that determine the competitiveness of companies. But there are not many and sufficient specific measurements for each of these factors, to determine the level of impact or confirm the reliability of measurement in enterprises in reality. A difference in issues in foreign studies such as: research data, policies, laws, or factors of management mechanisms, management level, technology, culture,... shows that the assessment of factors is really not suitable for full application to studies in Vietnam.

In domestic studies, authors have proposed models of competitiveness with influencing factors, such as the study of Ho Duc Hung (2009), which studied models of competitiveness of SMEs in Vietnam. This study has not yet specifically shown the level of influence of factors in the model on the competitiveness of an enterprise. The study is only qualitative analysis to build a model, but has not gone into depth in surveying and analyzing practice to confirm the certainty of the research conclusions. The remaining studies, such as Tran The Hoang (2011); Le Thi Hang (2013); Nguyen Van Thuy (2015); Nguyen Thanh Long (2016), have also proposed factors for competitiveness of companies in different industries. Therefore, there are many specific characteristics for industries in the study and the level of assessment is not really appropriate.

for the research on the competitiveness of CTTC companies, although in those studies there are many common points about the factors affecting the competitiveness of a company.

- For studies related to financial leasing:

Doan Thanh Ha's (2003) research has many contributions, however, at this stage, CTTC in Vietnam has just been formed and initially developed, the competitiveness is not really high, the understanding of this field of Vietnamese enterprises is still limited, and there is not much attraction for business investors. Therefore, the author only stops at the level of qualitative analysis of the reasons for initial success, as well as failures, or rather, lack of success for newly established CTTC companies, to help those interested in this field have a clearer view. From there, some solutions are proposed to affirm the development trend, the competitiveness of capital supply of the industry, to contribute to promoting the CTTC industry to be more and more complete, in the trend of the country's economy being gradually integrated.

With the research of Bui Thi Hong Doi (2003), the author has provided indicators to evaluate the efficiency and factors affecting the efficiency of CTTC operations. In which, the interest rate factor is assessed as the factor with the most obvious impact on the efficiency of the business operations of this industry. Like the topic of author Doan Thanh Ha, through the general assessment at the time of this research by the author, the CTTC industry has not really been expanded, the complexity is not high, so the thesis has many similar analyses and assessments to the topics at the same time. However, it has proposed solutions to contribute to improving the efficiency of the CTTC industry in Vietnam.

The study by Tong Thien Phuoc (2005) analyzed the factors affecting the operation of the CTTC market in Vietnam. This included analyzing and evaluating the impact of the financial and monetary integration process of the Vietnamese economy on this sector; Analyzing the factors

external factors, such as: legal environment, macroeconomic environment; endogenous factors with the operating mechanism of the industry. From there, solutions and recommendations are proposed to the State, Ministries and Branches to create conditions to promote the development of the CTTC market in Vietnam. However, the topic only stops at the level of qualitative analysis, the author has not measured the impact of these factors on the specific market.

Author Le Thi Kim Nhung (2005) also only analyzed at a qualitative level, evaluating the activities of CTTC in the period of Vietnam in the integrated economy. The topic only pointed out the successes and limitations of previous solutions, in the operation of the companies, the topic did not really give a specific level of success as well as limitations, did not state the results due to the influence of which factors and why. The proposed solutions mainly focus on contributing to the completion of the legal framework for the activities of the CTTC industry in Vietnam in the future.

Through assessment, it shows that the limitation of the above studies is that the authors stop at the level of qualitative research, there is no specific model of internal factors affecting the competitiveness of CTTC companies in Vietnam. Therefore, the accuracy in proposing solutions, or any appropriate and specific policy implications has not been confirmed.

With the author Hoang Thi Thanh Hang (2013), also synthesized the most common points to inherit, from the overview of research and background theory on NLCT, on CTTC and NLCT in CTTC. The author also saw the shortcomings and found gaps from previous research related to CTTC in Vietnam, proposed a study in the scope of CTTC companies in Ho Chi Minh City. The proposed model of this study provides a group of 10 internal factors affecting the NLCT of CTTC companies in Ho Chi Minh City, specifically: Financial capacity; Management and operation capacity; Human resource capacity

capacity; Product development capacity; Marketing capacity; Service quality capacity; Interest rate competitiveness capacity; Brand competitiveness capacity; Technology capacity; Network development capacity. The author based on the research of Thompson - Strickland (2001) and experts' opinions, to come up with a model with the above factors, the author eliminated the factors: Capital mobilization and lending capacity, because it is considered to be reflected in financial capacity. At the same time, response capacity and service capacity were also eliminated because they were reflected in service quality capacity.

However, through analysis and evaluation, the study of Hoang Thi Thanh Hang (2013) still has many limitations, the model has factors that are not suitable for studying internal factors affecting the competitiveness of CTTC companies in Vietnam, specifically:

Regarding the scope of the study only in Ho Chi Minh City, while there are many CTTC companies located in Hanoi, there are differences, so there is no universality in the study of CTTC companies in Vietnam. This is the first gap of the study.

The research model of Hoang Thi Thanh Hang (2013) still has inappropriate factors, such as the factor: Interest rate competition. The model does not mention the Price factor, while price has been mentioned by many previous researchers and considered important, specifically in previous studies: When studying NLCT, schools from Classical to Modern always mention the cost criterion. In production or trade, everything must be done to minimize costs, then competition will be easy; Michael Porter (1990) introduced the concept of national competitiveness as national productivity. This means that the lowest cost but brings the highest efficiency. According to Flejterski (1984), competitiveness is the ability to design and sell products with prices, quality and other features that are more attractive than other competitors.

competitors; Adamkiewicz-Drwiłło (2002), when affirming that the competitiveness of a company is determined by the price factor. Recent studies, such as: RKND DARSHANI (2013); Tran The Hoang (2011); Le Thi Hang (2013); Nguyen Thanh Long (2016), also include the price competitiveness factor in the authors' research model on NLCT. In which, the price factor includes many small constituent factors, not just the interest rate. Therefore, interest rate competition is only a part of the price competition of products or services. Prices are formed from many factors, in CTTC companies in Vietnam, they are mainly formed from: Interest rates, Deposits, Asset prices. In which, Interest is calculated with floating interest according to the market and fixed interest is given with fluctuation margin (2-3%), which is a competitive item in CTTC companies as well as commercial banks. Specifically, CTTC industry, must take into account the deposit. CTTC companies determine this item to ensure the safety of part of the company's capital, requiring the lessee to pay in advance. The deposit is usually at a level of 10-15% of the total value of the leased asset, with or without interest. CTTC companies often have great competition in this item, and it is the item that customers consider when choosing CTTC companies. For asset price, it is often based on market price. However, this item depends on the relationship between CTTC company and supplier. Managing asset price is to avoid collusion between the lessee and supplier to raise the price higher than the actual price on the market, causing damage to CTTC company. This shows that this is a second gap in the research model of Hoang Thi Thanh Hang (2013).

According to the study of Hoang Thi Thanh Hang (2013), the risk management factor is not mentioned. While in many previous studies on NLCT, enterprises always mention this factor, specifically: Researchers following the Neo-Confucian school

Classical economics also encourages businesses to know how to face risks, accept risks to be able to test solutions. Michael Porter (1990), also mentioned sustainability, avoiding risks so as not to only compete and develop in the short term with the competitiveness of a country, when providing residents with a high standard of living with many jobs. With the model of 5 competitive pressures of Michael Porter (1990), it shows that businesses always face pressures, risks that are always lurking around and can appear at any time for the activities of the business. David Aaker (2007), with the model of analyzing the competitiveness of competitors, also mentioned: Threats, for competitors. Thereby, it is possible to identify weaknesses, risks that can lead to the failure of competitors. In studies on NLCT with enterprises in specific industries in Vietnam, there are also many models that mention the factor of risk management and risk prevention for enterprises. For example: Tran The Hoang (2011), talking about the NLCT of seafood exporting enterprises, the author included in the model the factor of Commercial dispute handling capacity, in order to improve the ability to resolve uncertainties, disputes, and risks that may occur during the implementation of export contracts; Nguyen Van Thuy (2015), when studying the factors affecting the NLCT of a joint stock commercial bank, the factor of Risk management capacity was identified as one of the important factors in the author's research model. Through the synthesis of studies, risk management is always mentioned by scientists in studies on the NLCT of an organization.

In the financial services industry, the issue of risk management is of interest and attention to the government and the State Bank, with regular instructions and strict regulations on risk management. According to Circular No. 13/2018/TT-NHNN, dated May 18, 2018, there are regulations on the control system of commercial banks. The content has outlined the key risks that need to be controlled: a) Credit risk, operational risk, market risk, interest rate risk

Comment