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Solution to the problem of integrating human resource activities with business strategy of Vinawaco Waterway Construction Joint Stock Company - 1


FOREIGN TRADE UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

MASTER OF INTERNATIONAL BUSINESS

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Solution to the problem of integrating human resource activities with business strategy of Vinawaco Waterway Construction Joint Stock Company - 1

Topic:

GRADUATION THESIS

SOLUTION TO THE PROBLEM OF INTEGRATING HUMAN RESOURCES ACTIVITIES WITH BUSINESS STRATEGY OF WATERWAY CONSTRUCTION JOINT STOCK COMPANY - VINAWACO


Student: Uong Hai Dung Class: English 5

Lock : 45

Instructor: Master Ngo Quy Nham


Hanoi, May 2010

INDEX


LIST OF TABLES AND FIGURES

INTRODUCTION 1

CHAPTER 1: SOME GENERAL THEORIES ON HUMAN RESOURCE MANAGEMENT AND HUMAN RESOURCE STRATEGY 4

1.1. SOME PERSPECTIVES ON HUMAN RESOURCE MANAGEMENT 4

1.1.1. Definition of human resource management 4

1.1.2. Human Resource Management Model 6

1.1.3. Objectives of Human Resource Management 8

1.1.4. Main activities of Human Resource Management 9

1.2. OVERVIEW OF HUMAN RESOURCES STRATEGY (CLNNL)

................................................................................................................... 12

1.2.1. Overview of Strategy 12

1.2.2. Overview of Human Resource Strategy (HRS) 15

1.2.3. Main content of Human Resource Strategy 19

1.2.4. The significance of integrating human resource strategy with business strategy of the enterprise 24

CHAPTER 2: ANALYSIS AND ASSESSMENT OF THE CURRENT STATE OF INTEGRATION BETWEEN HUMAN RESOURCE ACTIVITIES AND BUSINESS STRATEGY OF WATERWAY CONSTRUCTION JOINT STOCK COMPANY - VINAWACO 28

2.1. GENERAL INTRODUCTION OF WATERWAY CONSTRUCTION JOINT STOCK COMPANY - VINAWACO 28

2.1.1. History of the Company 28

2.1.2. The Company's main business lines from 1972 to present 28

2.1.3. Core values ​​29

2.1.4. Organizational structure of Company 30

2.1.5. Summary of financial data for the fiscal years 2005, 2006, 2007 32

2.2. CURRENT STATUS OF HUMAN RESOURCES ACTIVITIES OF WATERWAY CONSTRUCTION JOINT STOCK COMPANY - VINAWACO 32

2.2.1. Characteristics of Company 32's Business Strategy

2.2.2. Human resource structure in Company 35

2.2.3. Human resource activities of Waterway Construction Joint Stock Company - VINAWACO 38

2.3. ASSESSMENT OF THE INTEGRATION BETWEEN HUMAN RESOURCE ACTIVITIES AND THE COMPANY'S BUSINESS STRATEGY 50

2.3.1. The suitability between human resource activities and the company's business strategy 50

2.3.2. Contribution of integrating human resource activities with business strategy in improving the efficiency of production and business activities of the Company 55

2.3.3. Existing problems and causes 58

CHAPTER 3: SOME SOLUTIONS TO IMPROVE THE EFFICIENCY OF INTEGRATING HUMAN RESOURCES ACTIVITIES WITH BUSINESS STRATEGY OF WATERWAY CONSTRUCTION JSC 66

3.1. COMPANY'S DEVELOPMENT ORIENTATION GOALS TO 2020 66

3.1.1. Production and market planning 66

3.1.2. Financial goals 67

3.1.3. Investment plan 67

3.1.4. Labor and policies for employees 67

3.2. SOME SOLUTIONS TO IMPROVE THE EFFICIENCY OF INTEGRATING HUMAN RESOURCES ACTIVITIES WITH BUSINESS STRATEGY OF WATERWAY CONSTRUCTION JOINT STOCK COMPANY - VINAWACO 68

3.2.1. Strengthening the link between human resource activities and business strategy 69

3.2.2. Improving the effectiveness of implementing human resource management policies 71

CONCLUSION 80

REFERENCES 81

LIST OF TABLES AND FIGURES


Figure 1.1. Human resource management cycle 7

Figure 1.2. Harvard 7 QTNNL model

Figure 1.3. Basic steps of the Strategy Development Process 15

Figure 1.4. Basic content of human resource strategy 19

Figure 2.1. Human resource qualification structure of Waterway Construction Joint Stock Company - VINAWACO 37

Figure 2.2. Seniority structure in Waterway Construction Joint Stock Company - VINAWACO 38

Figure 2.3. Performance evaluation model of Waterway Construction Joint Stock Company 47


Table 2.1. Relationship between objectives in Business Strategy and applied human resource policies and activities 52

Table 2.2. The opposite impact of human resource management activities on the production and business efficiency of Company 55

Table 2.3. Contribution of human resource activities to the business performance of the Company 57

Table 2.4. Impact level of key HR activities 58


INTRODUCTION


In the current trend of globalization, especially when Vietnam has joined the WTO, the development of human resources to meet the requirements of industrialization and modernization is always an issue for industries and localities, including the construction industry. The Ministry of Construction is developing a strategy for human resource development in the industry until 2020 with the goal of building and developing human resources with sufficient quantity, qualifications and capacity to complete tasks well in the main areas of the industry. Currently, the labor force of the construction industry is about 2 million people. The labor force under the management of the Ministry of Construction alone is about 250,000 people, of which the number of highly skilled technical workers is more than 150,000 people. However, the above number is still not enough to satisfy the huge demand for staff and technical workers of construction enterprises. Therefore, the challenge for construction enterprises in managing this valuable resource is not small.

Waterway Construction Joint Stock Company - VINAWACO, in the development strategy and production and business activities of the Company, always acknowledges the role of human resource management in general and the Company's human resource activities in particular, playing a key role in effective business management as well as creating and developing the Company's advantages.

The Company's human resource management activities are built on the basis of regulations, policies and procedures on the basis of the main activities of human resource management to maximize the role of human resources in production and business efficiency. These activities include job analysis and design, determining human resource needs (human resource planning), attracting and recruiting competent individuals, selecting employees (recruitment), training employees to perform current jobs and preparing for the future.


future development (training and development), employee compensation (salary/benefits), performance appraisal (performance management), and creating a professional, dynamic working environment with high corporate culture (labor relations). The role of human resource strategy is clearly demonstrated through the growth of revenue and market share, customer satisfaction and production and business efficiency of the Company in recent years.

In addition to the above positive aspects, the Company's human resource activities also revealed certain limitations in the implementation process, especially during the period when the Company transformed from a 100% state-owned enterprise to a joint stock enterprise. In this situation, the author wishes to have a deeper and more specific view on specific aspects in implementing human resource strategy from the perspective of theory and scientific research. Thereby, we can have specific assessments as well as provide appropriate solutions/recommendations for sustainable development in the future.

Object and scope of research

This thesis will focus on studying the current status of human resource activities and the issue of integrating those activities with the business strategy of Waterway Construction Joint Stock Company - VINAWACO from 2006 to present.

Research methods

The research methods used are data collection and analysis/evaluation; descriptive and generalization methods; comparative graph methods.

Thesis layout

- Chapter I: Some general theories. In this chapter, the author presents the most basic theoretical issues on human resource management and strategy.


human resources, strategic structure in enterprises, human resource strategy model to serve as a basis for specific studies in the following chapter.

- Chapter II: Analysis and evaluation of the current status of human resource activities in Waterway Construction Joint Stock Company - VINAWACO..

- Chapter III: Some solutions to improve human resource activities in the Company and the issue of integrating those activities with the Company's strategy with the aim of further enhancing the role of human resource activities in the Company's future development.

The author would like to sincerely thank all the staff working at the Administrative Organization Department in particular and all the staff of the Waterway Construction Joint Stock Company - WAC. JSC in general for their great support in providing research materials as well as helping me understand how to apply theoretical issues into practice. The author would also like to express his sincere thanks to Master Ngo Quy Nham - Lecturer of the Faculty of Business Administration for his enthusiastic help throughout the process of writing and completing this thesis.

Due to the limitation of research time as well as practical experience, this thesis still has many limitations in content. The author hopes to receive comments and contributions from teachers and students to make the article more complete.

Thanks a lot.

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