International Journal of Multidisciplinary Research and Development 28 International Journal of Multidisciplinary Research and Development Online ISSN: 2349-4182, Print ISSN: 2349-5979; Impact Factor: RJIF 5.72 Received: 27-05-2020; Accepted: 15-06-2020; Published: 30-06-2020 www.allsubjectjournal.com Volume 7; Issue 7; 2020; Page No. 28-33 Comparative analysis of business strategy of Vinmart+ and Familymart convenience stores in Vietnam Nguyen Hoang Tien 1 , Rewel Jiminez Santural Jose 2 , Nguyen Phuong Mai 3 , Tran Thanh Tung 4 , Nguyen Khanh Cuong 5 , Nguyen Thi Hoang Oanh 6 1, 2 Saigon International University, Vietnam 3 International School, Vietnam National University, Hanoi, Vietnam 4 University of Economics, Ho Chi Minh City, Vietnam 5 Lilama 2 International Technology College, Vietnam 6 Thu Dau Mot University, Vietnam Abstract Vietnam's economy grows at an annual rate of 7%. This has led to the growth and attractiveness of the retail sector and especially the convenience store model in this country. Familymart and Vinmart are two big players in the retail industry on a micro scale, which is a convenience store on the Vietnamese market. The comparative analysis of the business strategies of these two businesses will also provide valuable experience for foreign businesses wishing to join the segment of convenience goods in Vietnam and both domestic businesses that want to start a business in line with this business model. Keywords: business strategy, convenience store, Vinmart, familymart, Vietnam 1. Introduction In recent years, we can see that modern distribution channels are gradually prevailing, popularly in big cities. In particular, Vietnam is witnessing a strong explosion of modern retail channels such as supermarkets, trade centers. Vietnam's retail market is very dynamic and potential, with an average annual revenue growth of 11.7% in the period 2008-2015 [1, 2, 3] . Vietnam's retail market has been changing both in quality and quantity. It is expected that by 2020, the total market value of retail sales in Vietnam will reach USD 180 billion (Atkearney.com, 2008). In 2017, the country ranked sixth in Global Retail. Multinational retailers such as Lotte, Big C, Aeon, Circle K and 7-Eleven are taking advantage of Vietnam's emerging retail market and have established their footprint. The presence of foreign retailers in Vietnam creates more competition for domestic retailers (Vietnam EU Business Network, 2018). Facing the strong penetration of the foreign retail market, typical domestic retailers such as Vinmart and Vinmart+ of the Vingroup are also actively expanding their business activities. Vinmart+ and FamilyMart are 2 convenience store chains that are growing exponentially across the country [4, 5, 6, 7] . To learn more about the retail industry in general and the two convenience stores chains Vinmart+ and FamilyMart in particular, we investigate deeply into the issue "Analyzing and comparing business strategies of Vinmart + and FamilyMart in Vietnam retail market". 2. Theoretical framework 2.1. Concept and the role of business strategy Business strategy is analysis, understanding and giving a basic path, sketching the trajectory of progress in production and business activities. It is a comprehensive plan, the coordination and consistency are carefully trained to lead the business unit to ensure the business unit's goals. Business strategy is the determination of the basic objectives of the business unit, the selection of means and ways of action, and the allocation of essential resources to realize the business objectives [8, 10, 11] . In today's volatile market conditions, only one thing businesses can know for sure is that change. Strategic management as a direction, a direction to help these organizations overcome the turbulent in the marketplace, reaching the future with their own efforts and capabilities. Business strategies are designed to help businesses focus on adapting best to changes in the long term [9, 11, 12] . Strategic management makes it possible for an organization to be more proactive rather than passive in defining its future, it allows an organization to be proactive and influential, enjoy the environment it operates in and, therefore, use its full power to control beyond what is variable. Strategic management makes each person aware of the utmost importance of given threats and opportunities in the business environment. Both management and employees understand and commit to the goal of the business. Once everyone in the business understands what the business is doing and why it feels like they are part of the business, they will commit to supporting all business activities [11, 13, 14] . 2.2. Analysis of corporate business strategy Identify the mission and goals of the business Mission is the reason for the existence of an enterprise that shows the direction of the enterprise during its lifetime. Businesses can change strategies to carry out their missions but rarely change the reason for their existence. The goal is the final desired result that the business should achieve. Goals set the direction for all decisions and formulate measurement standards for practical implementation. The goal is the final desired result that the business should achieve. Goals set the direction for all decisions and