{"id":9918,"date":"2025-05-23T11:45:08","date_gmt":"2025-05-23T04:45:08","guid":{"rendered":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/?p=9918"},"modified":"2026-03-25T14:09:29","modified_gmt":"2026-03-25T07:09:29","slug":"moat-la-gi","status":"publish","type":"post","link":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/kien-thuc-kinh-te\/moat-la-gi","title":{"rendered":"Moat l\u00e0 g\u00ec? \u1ee8ng d\u1ee5ng kh\u00e1i ni\u1ec7m \u201ccon h\u00e0o kinh t\u1ebf\u201d trong kinh doanh"},"content":{"rendered":"

D\u00f9 th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 kh\u00f4ng ng\u1eebng bi\u1ebfn \u0111\u1ed9ng, nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n v\u1eabn lu\u00f4n t\u00ecm ki\u1ebfm c\u00e1c doanh nghi\u1ec7p s\u1edf h\u1eefu l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng. Moat l\u00e0 g\u00ec<\/strong> m\u00e0 l\u1ea1i tr\u1edf th\u00e0nh ch\u1ec9 b\u00e1o \u0111\u01b0\u1ee3c Warren Buffett v\u00e0 nhi\u1ec1u qu\u1ef9 \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb \u01b0u ti\u00ean h\u00e0ng \u0111\u1ea7u? N\u1ebfu b\u1ea1n \u0111ang mu\u1ed1n hi\u1ec3u r\u00f5 c\u00e1ch \u0111\u00e1nh gi\u00e1 s\u1ee9c m\u1ea1nh d\u00e0i h\u1ea1n c\u1ee7a m\u1ed9t doanh nghi\u1ec7p, b\u00e0i vi\u1ebft n\u00e0y s\u1ebd l\u00e0 \u0111i\u1ec3m kh\u1edfi \u0111\u1ea7u l\u00fd t\u01b0\u1edfng.<\/p>\n

\"Moat<\/figure>\n

Moat l\u00e0 g\u00ec?<\/h2>\n
\n

Moat trong ti\u1ebfng Anh ngh\u0129a l\u00e0 h\u00e0o n\u01b0\u1edbc \u2013 c\u00f4ng tr\u00ecnh bao quanh l\u00e2u \u0111\u00e0i th\u1eddi trung c\u1ed5 \u0111\u1ec3 ng\u0103n qu\u00e2n \u0111\u1ecbch. Trong kinh doanh, moat l\u00e0 c\u00e1ch \u1ea9n d\u1ee5 ch\u1ec9 <\/strong>l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng<\/strong> gi\u00fap doanh nghi\u1ec7p b\u1ea3o v\u1ec7 v\u1ecb th\u1ebf th\u1ecb tr\u01b0\u1eddng kh\u1ecfi s\u1ef1 x\u00e2m nh\u1eadp c\u1ee7a \u0111\u1ed1i th\u1ee7.<\/strong><\/p>\n<\/blockquote>\n

Moat c\u00f3 th\u1ec3 \u0111\u1ebfn t\u1eeb th\u01b0\u01a1ng hi\u1ec7u m\u1ea1nh, c\u00f4ng ngh\u1ec7 \u0111\u1ed9c quy\u1ec1n, chi ph\u00ed th\u1ea5p ho\u1eb7c m\u1ea1ng l\u01b0\u1edbi ng\u01b0\u1eddi d\u00f9ng l\u1edbn. Thu\u1eadt ng\u1eef n\u00e0y \u0111\u01b0\u1ee3c nh\u00e0 \u0111\u1ea7u t\u01b0 huy\u1ec1n tho\u1ea1i Warren Buffett s\u1eed d\u1ee5ng nh\u1eb1m nh\u1ea5n m\u1ea1nh t\u1ea7m quan tr\u1ecdng c\u1ee7a vi\u1ec7c \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng doanh nghi\u1ec7p c\u00f3 kh\u1ea3 n\u0103ng t\u1ea1o ra kho\u1ea3ng c\u00e1ch c\u1ea1nh tranh r\u00f5 r\u1ec7t v\u00e0 duy tr\u00ec l\u1ee3i nhu\u1eadn d\u00e0i h\u1ea1n. Khi moat \u0111\u1ee7 m\u1ea1nh, n\u00f3 h\u00ecnh th\u00e0nh n\u00ean con h\u00e0o kinh t\u1ebf<\/strong>, gi\u00fap doanh nghi\u1ec7p ph\u00e1t tri\u1ec3n \u1ed5n \u0111\u1ecbnh b\u1ea5t ch\u1ea5p \u00e1p l\u1ef1c t\u1eeb th\u1ecb tr\u01b0\u1eddng.<\/p>\n

C\u00e1c lo\u1ea1i moat v\u00e0 c\u00e1ch h\u00ecnh th\u00e0nh<\/h2>\n

Moat kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 c\u1ed1 \u0111\u1ecbnh m\u00e0 g\u1ed3m nhi\u1ec1u d\u1ea1ng l\u1ee3i th\u1ebf c\u1ea1nh tranh kh\u00e1c nhau. D\u01b0\u1edbi \u0111\u00e2y l\u00e0 ba nh\u00f3m moat ph\u1ed5 bi\u1ebfn nh\u1ea5t m\u00e0 doanh nghi\u1ec7p c\u00f3 th\u1ec3 x\u00e2y d\u1ef1ng \u0111\u1ec3 t\u1ea1o ra s\u1ef1 kh\u00e1c bi\u1ec7t l\u00e2u d\u00e0i:<\/p>\n

T\u00e0i s\u1ea3n v\u00f4 h\u00ecnh<\/strong>: \u0110\u00e2y l\u00e0 nh\u1eefng gi\u00e1 tr\u1ecb kh\u00f3 \u0111o \u0111\u1ebfm nh\u01b0 th\u01b0\u01a1ng hi\u1ec7u, b\u1ea3n quy\u1ec1n, s\u00e1ng ch\u1ebf ho\u1eb7c gi\u1ea5y ph\u00e9p \u0111\u1ed9c quy\u1ec1n. V\u00ed d\u1ee5, Coca-Cola s\u1edf h\u1eefu m\u1ed9t th\u01b0\u01a1ng hi\u1ec7u to\u00e0n c\u1ea7u kh\u00f4ng d\u1ec5 thay th\u1ebf, cho ph\u00e9p h\u1ecd \u0111\u1ecbnh gi\u00e1 cao h\u01a1n m\u1eb7t b\u1eb1ng chung.<\/p>\n

Hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi v\u00e0 chi ph\u00ed chuy\u1ec3n \u0111\u1ed5i cao<\/strong>: Khi c\u00e0ng nhi\u1ec1u ng\u01b0\u1eddi d\u00f9ng tham gia v\u00e0o m\u1ed9t n\u1ec1n t\u1ea3ng (nh\u01b0 Facebook ho\u1eb7c Shopee), gi\u00e1 tr\u1ecb c\u1ee7a n\u1ec1n t\u1ea3ng c\u00e0ng t\u0103ng. \u0110\u1ed3ng th\u1eddi, n\u1ebfu vi\u1ec7c chuy\u1ec3n sang \u0111\u1ed1i th\u1ee7 ti\u00eau t\u1ed1n nhi\u1ec1u c\u00f4ng s\u1ee9c ho\u1eb7c chi ph\u00ed, kh\u00e1ch h\u00e0ng s\u1ebd c\u00f3 xu h\u01b0\u1edbng \u1edf l\u1ea1i l\u00e2u h\u01a1n.<\/p>\n

L\u1ee3i th\u1ebf chi ph\u00ed v\u00e0 quy m\u00f4<\/strong>: C\u00e1c doanh nghi\u1ec7p s\u1ea3n xu\u1ea5t l\u1edbn nh\u01b0 Amazon ho\u1eb7c Vinamilk c\u00f3 kh\u1ea3 n\u0103ng \u0111\u00e0m ph\u00e1n gi\u00e1 t\u1ed1t h\u01a1n v\u1edbi nh\u00e0 cung c\u1ea5p, t\u1ed1i \u01b0u chi ph\u00ed v\u00e0 duy tr\u00ec l\u1ee3i nhu\u1eadn c\u1ea1nh tranh.<\/p>\n

\u0110\u1ec3 h\u00ecnh th\u00e0nh moat, doanh nghi\u1ec7p c\u1ea7n k\u1ebft h\u1ee3p chi\u1ebfn l\u01b0\u1ee3c s\u1ea3n ph\u1ea9m, \u0111\u1ea7u t\u01b0 v\u00e0o c\u00f4ng ngh\u1ec7, d\u1ecbch v\u1ee5 kh\u00e1ch h\u00e0ng v\u00e0 b\u1ea3o v\u1ec7 t\u00e0i s\u1ea3n tr\u00ed tu\u1ec7. Khi c\u00e1c y\u1ebfu t\u1ed1 n\u00e0y c\u1ed9ng h\u01b0\u1edfng \u0111\u1ee7 m\u1ea1nh, ch\u00fang t\u1ea1o n\u00ean con h\u00e0o kinh t\u1ebf<\/strong> v\u1eefng ch\u1eafc, gi\u00fap doanh nghi\u1ec7p \u0111\u1ee9ng v\u1eefng tr\u00ean th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Moat v\u00e0 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn k\u1ebft qu\u1ea3 t\u00e0i ch\u00ednh doanh nghi\u1ec7p<\/h2>\n

M\u1ed9t trong nh\u1eefng t\u00e1c \u0111\u1ed9ng r\u00f5 r\u1ec7t nh\u1ea5t c\u1ee7a moat ch\u00ednh l\u00e0 kh\u1ea3 n\u0103ng b\u1ea3o v\u1ec7 bi\u00ean l\u1ee3i nhu\u1eadn cao v\u00e0 \u1ed5n \u0111\u1ecbnh trong th\u1eddi gian d\u00e0i. Khi m\u1ed9t doanh nghi\u1ec7p s\u1edf h\u1eefu l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng, h\u1ecd c\u00f3 th\u1ec3 tr\u00e1nh \u0111\u01b0\u1ee3c cu\u1ed9c \u0111ua gi\u1ea3m gi\u00e1 v\u1edbi \u0111\u1ed1i th\u1ee7 v\u00e0 duy tr\u00ec gi\u00e1 b\u00e1n t\u1ed1t h\u01a1n so v\u1edbi m\u1eb7t b\u1eb1ng chung.<\/p>\n

V\u00ed d\u1ee5, Apple v\u1edbi h\u1ec7 sinh th\u00e1i kh\u00e9p k\u00edn t\u1eeb ph\u1ea7n c\u1ee9ng \u0111\u1ebfn ph\u1ea7n m\u1ec1m, c\u00f3 th\u1ec3 b\u00e1n s\u1ea3n ph\u1ea9m v\u1edbi gi\u00e1 cao m\u00e0 kh\u00e1ch h\u00e0ng v\u1eabn s\u1eb5n s\u00e0ng chi tr\u1ea3. Moat gi\u00fap h\u1ecd b\u1ea3o to\u00e0n bi\u00ean l\u1ee3i nhu\u1eadn d\u00f9 chi ph\u00ed s\u1ea3n xu\u1ea5t c\u00f3 t\u0103ng l\u00ean theo th\u1eddi gian.<\/p>\n

Ngo\u00e0i ra, moat c\u0169ng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn kh\u1ea3 n\u0103ng t\u1ea1o ra d\u00f2ng ti\u1ec1n \u0111\u1ec1u \u0111\u1eb7n. M\u1ed9t doanh nghi\u1ec7p c\u00f3 l\u1ee3i th\u1ebf b\u1ec1n v\u1eefng s\u1ebd d\u1ec5 d\u1ef1 \u0111o\u00e1n doanh thu h\u01a1n, nh\u1edd \u0111\u00f3 t\u1ed1i \u01b0u \u0111\u01b0\u1ee3c k\u1ebf ho\u1ea1ch \u0111\u1ea7u t\u01b0, m\u1edf r\u1ed9ng v\u00e0 tr\u1ea3 c\u1ed5 t\u1ee9c. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7c bi\u1ec7t quan tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n, khi d\u00f2ng ti\u1ec1n \u1ed5n \u0111\u1ecbnh l\u00e0 n\u1ec1n t\u1ea3ng cho t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng.<\/p>\n

Cu\u1ed1i c\u00f9ng, moat c\u00f2n gi\u00fap doanh nghi\u1ec7p ch\u1ed1ng ch\u1ecdi t\u1ed1t h\u01a1n trong giai \u0111o\u1ea1n kh\u00f3 kh\u0103n ho\u1eb7c khi th\u1ecb tr\u01b0\u1eddng c\u00f3 bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh. Khi r\u00e0o c\u1ea3n c\u1ea1nh tranh \u0111\u1ee7 l\u1edbn, \u00e1p l\u1ef1c t\u1eeb \u0111\u1ed1i th\u1ee7 s\u1ebd \u00edt \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn hi\u1ec7u qu\u1ea3 kinh doanh c\u1ed1t l\u00f5i c\u1ee7a c\u00f4ng ty.<\/p>\n

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Xem th\u00eam: Tuy\u1ec3n d\u1ee5ng c\u00f4ng ty t\u00e0i ch\u00ednh<\/a> ta\u0323i Careerlink.vn<\/p>\n<\/blockquote>\n

Moat trong chi\u1ebfn l\u01b0\u1ee3c kinh doanh v\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n<\/h2>\n

Moat kh\u00f4ng ch\u1ec9 l\u00e0 y\u1ebfu t\u1ed1 t\u00e0i ch\u00ednh, m\u00e0 c\u00f2n l\u00e0 n\u1ec1n t\u1ea3ng \u0111\u1ec3 x\u00e2y d\u1ef1ng chi\u1ebfn l\u01b0\u1ee3c kinh doanh hi\u1ec7u qu\u1ea3. Khi doanh nghi\u1ec7p nh\u1eadn th\u1ee9c \u0111\u01b0\u1ee3c l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng c\u1ee7a m\u00ecnh, h\u1ecd c\u00f3 th\u1ec3 \u0111\u01b0a ra c\u00e1c quy\u1ebft \u0111\u1ecbnh chi\u1ebfn l\u01b0\u1ee3c r\u00f5 r\u00e0ng h\u01a1n, \u0111\u1eb7c bi\u1ec7t trong vi\u1ec7c l\u1ef1a ch\u1ecdn th\u1ecb tr\u01b0\u1eddng, ph\u00e1t tri\u1ec3n s\u1ea3n ph\u1ea9m v\u00e0 m\u1edf r\u1ed9ng quy m\u00f4.<\/p>\n

V\u00ed d\u1ee5, m\u1ed9t c\u00f4ng ty s\u1edf h\u1eefu b\u1eb1ng s\u00e1ng ch\u1ebf \u0111\u1ed9c quy\u1ec1n c\u00f3 th\u1ec3 t\u1eadp trung v\u00e0o vi\u1ec7c khai th\u00e1c th\u1ecb ph\u1ea7n ng\u00e1ch m\u00e0 kh\u00f4ng lo b\u1ecb sao ch\u00e9p. Ng\u01b0\u1ee3c l\u1ea1i, doanh nghi\u1ec7p c\u00f3 l\u1ee3i th\u1ebf v\u1ec1 chi ph\u00ed c\u00f3 th\u1ec3 tri\u1ec3n khai chi\u1ebfn l\u01b0\u1ee3c gi\u00e1 th\u1ea5p \u0111\u1ec3 chi\u1ebfm l\u0129nh th\u1ecb tr\u01b0\u1eddng \u0111\u1ea1i ch\u00fang m\u00e0 v\u1eabn \u0111\u1ea3m b\u1ea3o l\u1ee3i nhu\u1eadn.<\/p>\n

Trong l\u0129nh v\u1ef1c \u0111\u1ea7u t\u01b0, moat l\u00e0 ch\u1ec9 b\u00e1o quan tr\u1ecdng \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 kh\u1ea3 n\u0103ng ph\u00e1t tri\u1ec3n b\u1ec1n v\u1eefng c\u1ee7a doanh nghi\u1ec7p. Nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n th\u01b0\u1eddng \u01b0u ti\u00ean c\u00e1c c\u00f4ng ty c\u00f3 moat m\u1ea1nh, v\u00ec \u0111i\u1ec1u n\u00e0y l\u00e0m gi\u1ea3m r\u1ee7i ro b\u1ecb thay th\u1ebf v\u00e0 gia t\u0103ng k\u1ef3 v\u1ecdng v\u1ec1 c\u1ed5 t\u1ee9c \u0111\u1ec1u \u0111\u1eb7n ho\u1eb7c gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh.<\/p>\n

Ngo\u00e0i ra, moat c\u00f2n gi\u00fap doanh nghi\u1ec7p duy tr\u00ec m\u1ed1i quan h\u1ec7 l\u00e2u d\u00e0i v\u1edbi kh\u00e1ch h\u00e0ng. Khi kh\u00e1ch h\u00e0ng \u0111\u00e3 quen thu\u1ed9c v\u00e0 h\u00e0i l\u00f2ng v\u1edbi s\u1ea3n ph\u1ea9m, h\u1ecd \u00edt c\u00f3 xu h\u01b0\u1edbng chuy\u1ec3n sang \u0111\u1ed1i th\u1ee7 \u2013 \u0111\u00e2y c\u0169ng l\u00e0 l\u1ee3i th\u1ebf c\u1ea1nh tranh m\u00e0 doanh nghi\u1ec7p c\u00f3 th\u1ec3 t\u1eadn d\u1ee5ng \u0111\u1ec3 n\u00e2ng cao gi\u00e1 tr\u1ecb v\u00f2ng \u0111\u1eddi kh\u00e1ch h\u00e0ng (CLV).<\/p>\n

Ph\u00e2n t\u00edch v\u00e0 \u0111\u00e1nh gi\u00e1 moat doanh nghi\u1ec7p<\/h2>\n

\u0110\u1ec3 x\u00e1c \u0111\u1ecbnh m\u1ed9t doanh nghi\u1ec7p c\u00f3 moat hay kh\u00f4ng, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n k\u1ebft h\u1ee3p c\u1ea3 y\u1ebfu t\u1ed1 \u0111\u1ecbnh l\u01b0\u1ee3ng v\u00e0 \u0111\u1ecbnh t\u00ednh. Tr\u01b0\u1edbc h\u1ebft, b\u00e1o c\u00e1o t\u00e0i ch\u00ednh l\u00e0 c\u00f4ng c\u1ee5 ph\u1ea3n \u00e1nh r\u00f5 r\u00e0ng hi\u1ec7u qu\u1ea3 c\u1ee7a moat. C\u00e1c c\u00f4ng ty s\u1edf h\u1eefu l\u1ee3i th\u1ebf c\u1ea1nh tranh b\u1ec1n v\u1eefng th\u01b0\u1eddng duy tr\u00ec bi\u00ean l\u1ee3i nhu\u1eadn g\u1ed9p cao, l\u1ee3i nhu\u1eadn r\u00f2ng \u1ed5n \u0111\u1ecbnh v\u00e0 d\u00f2ng ti\u1ec1n d\u01b0\u01a1ng trong nhi\u1ec1u n\u0103m li\u00ean ti\u1ebfp.<\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu (ROE) v\u00e0 tr\u00ean t\u00e0i s\u1ea3n (ROA) c\u0169ng c\u1ea7n \u0111\u01b0\u1ee3c xem x\u00e9t. N\u1ebfu doanh nghi\u1ec7p c\u00f3 ROE cao h\u01a1n m\u1ee9c trung b\u00ecnh ng\u00e0nh trong th\u1eddi gian d\u00e0i m\u00e0 kh\u00f4ng c\u1ea7n s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y t\u00e0i ch\u00ednh qu\u00e1 l\u1edbn, \u0111\u00f3 l\u00e0 d\u1ea5u hi\u1ec7u t\u00edch c\u1ef1c v\u1ec1 s\u1ef1 hi\u1ec7n di\u1ec7n c\u1ee7a moat.<\/p>\n

Ngo\u00e0i d\u1eef li\u1ec7u t\u00e0i ch\u00ednh, ph\u00e2n t\u00edch SWOT l\u00e0 ph\u01b0\u01a1ng ph\u00e1p \u0111\u1ecbnh t\u00ednh h\u1ed7 tr\u1ee3 \u0111\u00e1nh gi\u00e1 \u0111\u1ed9 b\u1ec1n v\u1eefng c\u1ee7a moat. Nh\u1eefng \u0111i\u1ec3m m\u1ea1nh kh\u00f3 t\u00e1i t\u1ea1o nh\u01b0 c\u00f4ng ngh\u1ec7 \u0111\u1ed9c quy\u1ec1n, m\u1ed1i quan h\u1ec7 \u0111\u1ed9c quy\u1ec1n v\u1edbi nh\u00e0 cung c\u1ea5p hay h\u1ec7 sinh th\u00e1i kh\u00e9p k\u00edn \u0111\u1ec1u l\u00e0 ch\u1ec9 b\u00e1o r\u00f5 r\u00e0ng v\u1ec1 l\u1ee3i th\u1ebf c\u1ea1nh tranh d\u00e0i h\u1ea1n.<\/p>\n

Vi\u1ec7c \u0111\u00e1nh gi\u00e1 moat kh\u00f4ng th\u1ec3 d\u1ef1a v\u00e0o m\u1ed9t ch\u1ec9 s\u1ed1 duy nh\u1ea5t, m\u00e0 l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a vi\u1ec7c quan s\u00e1t li\u00ean t\u1ee5c v\u00e0 ph\u00e2n t\u00edch nhi\u1ec1u chi\u1ec1u. Moat b\u1ec1n v\u1eefng l\u00e0 y\u1ebfu t\u1ed1 c\u1ed1t l\u00f5i gi\u00fap doanh nghi\u1ec7p \u0111\u1ee9ng v\u1eefng b\u1ea5t ch\u1ea5p chu k\u1ef3 kinh t\u1ebf ho\u1eb7c s\u1ef1 bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.<\/p>\n

\u1ee8ng d\u1ee5ng con h\u00e0o kinh t\u1ebf trong \u0111\u1ea7u t\u01b0 th\u1ef1c t\u1ebf<\/h2>\n

Trong \u0111\u1ea7u t\u01b0 gi\u00e1 tr\u1ecb, vi\u1ec7c nh\u1eadn di\u1ec7n doanh nghi\u1ec7p s\u1edf h\u1eefu con h\u00e0o kinh t\u1ebf<\/strong> l\u00e0 m\u1ed9t trong nh\u1eefng y\u1ebfu t\u1ed1 quan tr\u1ecdng \u0111\u1ec3 l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu c\u00f3 ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng b\u1ec1n v\u1eefng. Nh\u1eefng c\u00f4ng ty n\u00e0y th\u01b0\u1eddng c\u00f3 kh\u1ea3 n\u0103ng duy tr\u00ec l\u1ee3i nhu\u1eadn v\u01b0\u1ee3t tr\u1ed9i so v\u1edbi trung b\u00ecnh ng\u00e0nh, b\u1ea5t k\u1ec3 chu k\u1ef3 kinh t\u1ebf hay \u00e1p l\u1ef1c c\u1ea1nh tranh.<\/p>\n

M\u1ed9t trong nh\u1eefng \u1ee9ng d\u1ee5ng r\u00f5 n\u00e9t c\u1ee7a con h\u00e0o kinh t\u1ebf<\/strong> l\u00e0 trong vi\u1ec7c n\u1eafm gi\u1eef c\u1ed5 phi\u1ebfu d\u00e0i h\u1ea1n. Thay v\u00ec t\u00ecm ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb bi\u1ebfn \u0111\u1ed9ng ng\u1eafn h\u1ea1n, nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n t\u1eadp trung v\u00e0o c\u00e1c doanh nghi\u1ec7p c\u00f3 l\u1ee3i th\u1ebf c\u1ea1nh tranh kh\u00f3 b\u1ecb sao ch\u00e9p, nh\u1eb1m \u0111\u1ea3m b\u1ea3o gi\u00e1 tr\u1ecb c\u1ed5 phi\u1ebfu t\u0103ng \u1ed5n \u0111\u1ecbnh theo th\u1eddi gian.<\/p>\n

V\u00ed d\u1ee5, Microsoft l\u00e0 c\u00f4ng ty \u0111i\u1ec3n h\u00ecnh s\u1edf h\u1eefu nhi\u1ec1u t\u1ea7ng moat nh\u01b0 h\u1ec7 sinh th\u00e1i ph\u1ea7n m\u1ec1m Office, m\u1ea1ng l\u01b0\u1edbi kh\u00e1ch h\u00e0ng doanh nghi\u1ec7p to\u00e0n c\u1ea7u v\u00e0 r\u00e0o c\u1ea3n k\u1ef9 thu\u1eadt cao. Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0y t\u1ea1o n\u00ean con h\u00e0o kinh t\u1ebf<\/strong> m\u1ea1nh m\u1ebd, gi\u00fap c\u00f4ng ty duy tr\u00ec v\u1ecb th\u1ebf d\u1eabn \u0111\u1ea7u trong ng\u00e0nh su\u1ed1t nhi\u1ec1u th\u1eadp k\u1ef7.<\/p>\n

T\u01b0\u01a1ng t\u1ef1, Nestl\u00e9 hay Procter & Gamble l\u00e0 nh\u1eefng th\u01b0\u01a1ng hi\u1ec7u to\u00e0n c\u1ea7u s\u1edf h\u1eefu l\u1ee3i th\u1ebf v\u1ec1 quy m\u00f4, chu\u1ed7i cung \u1ee9ng v\u00e0 s\u1ef1 trung th\u00e0nh t\u1eeb kh\u00e1ch h\u00e0ng. \u0110\u00f3 l\u00e0 l\u00fd do v\u00ec sao c\u1ed5 phi\u1ebfu c\u1ee7a c\u00e1c doanh nghi\u1ec7p n\u00e0y th\u01b0\u1eddng l\u00e0 l\u1ef1a ch\u1ecdn \u01b0u ti\u00ean trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a c\u00e1c qu\u1ef9 l\u1edbn v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n theo tr\u01b0\u1eddng ph\u00e1i \u201cbuy and hold\u201d.<\/p>\n

Moat gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u00ecn xa h\u01a1n c\u00e1c ch\u1ec9 s\u1ed1 ng\u1eafn h\u1ea1n \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 s\u1ee9c m\u1ea1nh th\u1ef1c s\u1ef1 c\u1ee7a doanh nghi\u1ec7p. Moat l\u00e0 g\u00ec<\/strong> kh\u00f4ng ch\u1ec9 l\u00e0 kh\u00e1i ni\u1ec7m chi\u1ebfn l\u01b0\u1ee3c m\u00e0 c\u00f2n l\u00e0 c\u00f4ng c\u1ee5 h\u1eefu hi\u1ec7u trong \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n. Hi\u1ec3u r\u00f5 c\u00e1ch nh\u1eadn di\u1ec7n v\u00e0 \u0111\u00e1nh gi\u00e1 moat s\u1ebd gi\u00fap b\u1ea1n x\u00e2y d\u1ef1ng danh m\u1ee5c c\u1ed5 phi\u1ebfu b\u1ec1n v\u1eefng, t\u1ed1i \u01b0u h\u00f3a l\u1ee3i nhu\u1eadn v\u00e0 gi\u1ea3m thi\u1ec3u r\u1ee7i ro tr\u01b0\u1edbc bi\u1ebfn \u0111\u1ed9ng th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Tr\u00ed Nh\u00e2n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

D\u00f9 th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 kh\u00f4ng ng\u1eebng bi\u1ebfn \u0111\u1ed9ng, nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n v\u1eabn lu\u00f4n t\u00ecm ki\u1ebfm c\u00e1c doanh nghi\u1ec7p s\u1edf h\u1eefu l\u1ee3i th\u1ebf …<\/p>\n","protected":false},"author":58,"featured_media":9919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[78],"class_list":["post-9918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kien-thuc-kinh-te","tag-tai-chinh"],"_links":{"self":[{"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/posts\/9918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/comments?post=9918"}],"version-history":[{"count":3,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/posts\/9918\/revisions"}],"predecessor-version":[{"id":15142,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/posts\/9918\/revisions\/15142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/media\/9919"}],"wp:attachment":[{"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/media?parent=9918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/categories?post=9918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mb668s.com\/cam-nang-7mb66-xoc-dia\/wp-json\/wp\/v2\/tags?post=9918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}