VIETNAM NATIONAL UNIVERSITY – HO CHI MINH CITYUNIVERSITY OF TECHNOLOGY SCHOOL OF INDUSTRIAL MANAGEMENT INTERNSHIP REPORT REFINING THE CUSTOMER CARE SERVICE STRATEGY AT VIETCOMBANK HO CHI
CHAPTER I: COMPANY INTRODUCTION
The Joint Stock Commercial Bank for Foreign Trade of Vietnam
On April 1, 1963, the Vietnam Bank for Foreign Trade was established, which is now recognized as the Joint Stock Commercial Bank for Foreign Trade of Vietnam, commonly known as Vietcombank.
Vietcombank, the first state-owned commercial bank to undergo equitization, transitioned to a joint-stock commercial bank on June 2, 2008 Following the successful implementation of its equitization plan, Vietcombank shares, identified by the stock code VCB, were officially listed on the Ho Chi Minh City Stock Exchange on June 30, 2009.
For over six decades, Vietcombank has played a crucial role in enhancing the economic stability and development of the country, significantly contributing to national growth while also influencing regional and global financial markets.
Vietcombank has transformed from a specialized institution focused on the external economy into a comprehensive bank that operates across various sectors It provides a wide range of premier financial services, including traditional offerings like capital trading, capital mobilization, credit, and project finance, alongside modern banking solutions such as foreign currency trading, derivatives, card services, and electronic banking.
Vietcombank, with its extensive operational history and a skilled, attentive team, stands out as the preferred choice for businesses, large enterprises, and the general public in today's modern and highly integrated business landscape.
Vietcombank employees have consistently demonstrated wisdom and enthusiasm in their efforts to enhance the bank's sustainability The bank aims to maintain its status as Vietnam's leading bank by 2025, aspiring to rank among the top 100 banks in Asia, the top 300 banking and financial groups globally, and the top 1,000 listed companies worldwide, while significantly contributing to Vietnam's development.
Vietcombank's Board of Directors prioritizes human resource development as essential for the bank's success and efficiency, supported by a growing workforce Currently, the organizational structure of Vietcombank includes:
- In Vietnam, there are 474 transaction offices and 04 subsidiaries.
- 01 Singapore Representative Office, 01 US Representative Office, 01 Office Ho Chi Minh City Representative.
- 03 non-business units (cash handling center in Hanoi; cash handling center in
- School of Training and Human Resource Development in Ho Chi Minh City).
(Source: Deputy Manager, re-drawn by author)
Figure 1.1 Vietcombank’s branch and subsidiary network
(Source: Vietcombank’s website) Figure 1.2 Vietcombank’s organizational structure
October 30, 1962: Bank for Foreign Trade of Vietnam (Vietcombank) was established with precursor was Foreign Exchange Office belongs to the National Bank of Vietnam; April 01, 1963: Vietcombank officially came into operation;
1990: Vietcombank changed from an exclusively specialized in foreign trade- economic activities bank to a general commercial bank;
2007: Vietcombank and SeaBank signed a contract with Cardif to established Vietcombank - Cardif Life Insurance Company Ltd;
December 26, 2007: Vietcombank Initial Public Offered
2008: Vietcombank officially operated as a joint stock commercial bank;
2009: Listed on HCM Stock Exchange (HOSE);
September 302, 011: Mizuho Bank officially became a strategic investor of Vietcombank, holding 15% of its charter capital;
January 16, 2019: Increased the charter capital to VND37,088,774,480,000;
March 10, 2022: Increase charter capital to 47,325,165,710,000 VND.
Vision as of 2030: Top 1 Vietnam, Top 100 Asia, top 300 world, top 1000 listed companies that contribute to the development of Vietnam
By 2025, our mission is to achieve the top position in profit size and non-credit income, deliver an exceptional customer experience, excel in both retail and investment banking, maintain superior human resource quality, establish ourselves as a leading digital bank, and implement the most effective risk management strategies.
Trust - Maintain Faith and Skill Standards - Respect for principles and proper behavior Ready to innovate - Constantly pursuing the new, modern, and civilized
Sustainability - For long-term advantage
Humanity – emphasizing virtue, closeness and sympathy, and sharing.
The Joint Stock Commercial Bank for Foreign Trade of Vietnam – Ho Chi Minh City
Vietcombank HCM, the first branch of the bank, was established on November 1, 1976 After several relocations, its current address is on the 1st floor of VBB Tower, located at 05 Cong Truong Me Linh, District 1, Ho Chi Minh City, Vietnam.
VCB HCM employs a total of 1,153 workers, comprising both officers and functional staff Among them, 18.57% hold a master's degree, while 77.53% are university graduates, with the remaining 3.90% representing other educational backgrounds Notably, VCB HCM ranks as the top branch among 97 locations.
Ho Chi Minh City with many important milestones as well as acheivements; the most recent one is 40-year celebration in 2016.
Figure 1.3 Mr Nghiem Xuan Thanh, contemporaneous Chairman of the board of Vietcombank, presenting in the 40 years of VCB HCM celebration
1.2.2 Functions, duties, and organizational structure
Vietcombank HCM’s organizational structure can be summarized as:
- Board of manager: 01 Vice president
- Functional departments: o Business customer department o Retail customer department o Accounting department o Debt management department o Customer service department o Treasury department o Administration and Human resource department o Corporate Banking Services Department 1 & 2
Administration and Human resource Department
Front Office Back Office Transactional branches
CHAPTER II: THEORETICAL BASIS OF CUSTOMER CARE/CUSTOMER
Definitions
To thrive in the competitive market, businesses must secure a substantial customer base, as customers are essential for their survival and growth Consequently, every business is actively seeking strategies to attract and retain as many users as possible.
Customer care is one of the key methods used to keep good relationship with old customers as well as make new loyal customers.
With that has been said, what is customer?
A customer of a business typically refers to individuals or groups outside the organization who buy its products or services While this definition captures a key aspect of customer relationships, it overlooks other important stakeholders, such as investors, regulatory bodies, and the employees of the business itself.
- In general terms: As related to customer care, customer can be defined as:
“Customers are people who are served by the business; it does not matter whether they pay for it or not”.
The second way of defining customer seems as if the business does not put profit in top priorities, it still includes all types of customers.
To effectively address customer needs, businesses must categorize their clientele into distinct groups, each requiring tailored policies For simplicity, we can classify customers into two primary categories: external customers and internal customers.
- External customer (casually called ‘Customer’): Including all people come from the outside of the business that use the business’s products/services They can be divided in to 3 small groups:
The user: Person or organization who actually utilize the
The buyer: Person who collects information about products/services, makes selection, buys and pays for those.
The influenced: Person or organization that is affected positively (or negatively) from utilizing products/services.
Businesses have to take care of these three groups since the purchase decision process (shown in Figure 2.1) includes aspects which directly influence all three mentioned groups.
- Internal customer (inside business): As all officers and workers members of a business who work for the business and benefit from it.
2.1.2 What does customer care mean?
Customer care encompasses the efforts of service providers to effectively meet customer needs while utilizing the company's services In a competitive landscape, businesses prioritize customer service, viewing it as a strategic investment that attracts customers and fosters competitive advantages Today, customers often regard customer care as a crucial factor in their decision-making process regarding service usage Additionally, the costs associated with customer service activities are generally lower than those of market research To ensure a profitable return on investment in customer care, three essential conditions must be fulfilled.
- Product (diversity, quality & specification, after-sales care)
- Convenience (location, shipping & returning conditions, open-close time, payment)
- Human (skill, level, attitude, behavior)
Figure 2.1 Purchase decision process of customer
In a competitive market where product quality and convenience are comparable, the human element becomes a key differentiator Customers are more likely to choose brands that offer exceptional customer care, characterized by warm and thoughtful service Ultimately, superior customer support can significantly influence purchasing decisions.
Overview of customer care activities
Customer care activities play a vital role in enhancing the competitive edge of banking service providers As one of the most lucrative sectors globally, business activities are conducted by various entities, including companies, corporations, and individual entrepreneurs The research process involved a thorough consultation and review of relevant documents.
Nguyen Thi Van Anh, 2007, Improving sales and customer service skills at Vietnam
The Master's thesis from Foreign Trade University examines the sales and customer service skills essential for businesses, with a specific focus on the Posts and Telecommunications Group (VNPT) It evaluates VNPT's achievements and shortcomings in these areas, highlighting the importance of effective customer engagement in the context of industry integration.
Le Hoang Viet, 2011, Improving customer care policy at the Ho Chi Minh City Bank for Investment and Development branch, Master's thesis, University of Economics Ho
This article focuses on key aspects of customer service and customer care in Ho Chi Minh City It evaluates the current state of customer care at the Ho Chi Minh City branch of the Bank for Investment and Development Additionally, it proposes solutions to enhance the customer care policies at both the Investment Bank and the Ho Chi Minh City Development branch.
CHAPTER III: RESEARCH DESIGN AND METHODOLOGY
Research process
This research aims to develop a customer care strategy for VCBHCM by employing various methods, including qualitative, quantitative, descriptive, and analytical research These approaches will explore the theoretical market foundation and its influence on strategy development The accompanying figure illustrates the proposed research methodology.
Time and location of research
Time: from June to August of 2022.
Location: Joint Stock Commercial Bank for Foreign Trade of Vietnam - HCMCBranch.
Descriptive statistics method
In order to describe the development status of VCBHCM over the last few years, the author used descriptive statistics.
Strategy Development 64 46 66 Strategy Selection 64 Implementation & Solution
VCB currently has a robust count of POS machines, reflecting significant growth in its POS services Key variables influencing this expansion include advancements in technology, increased consumer demand for cashless transactions, and strategic partnerships with merchants Looking ahead, factors such as the ongoing digital transformation, regulatory support for electronic payments, and evolving consumer preferences are expected to further drive the growth of POS services at VCB.
Research designing
Primary data was collected through a set of questions answered by managers and employees in VCBHCM
Number of samples: 20 set of answers, which means 20 people were surveyed. Target participants: customer relationship/business specialists, maybe some customers.
Before the process commenced, participants' information was collected to establish an official list The author selected this sampling method because the survey's content requires in-depth knowledge that only a specific group of individuals responsible for related duties can adequately provide.
- Step 1: Basing on theory and related researches, the author picked and chose the most suitable questions for conducting this survey.
- Step 2: The set of questions, then, was reviewed and edited by university instructor and company supervisor.
- Step 3: The completed questionnaire was sent out to collect data (completed questionnaire in Appendix 1)
3.4.3 Quantifying and generalizing collected data using Likert scale (4) as convented below:
To make sure that the data is precise internally and externally, the author decided to collect information from the employees as well as the customers.
Employee questions (sample question booklet in Appendix 1):
- Evaluate by importance (weight): Choose number 1: Not important; Choose number 2: Least important; Choose number 3: Moderately important; Choose number 4: Extremely important.
- Evaluate by reaction level (response effectiveness): Choose number 1: Weak response; Choose number 2: Moderate response; Choose number 3: Good response; Choose number 4: Perfect response.
- Evaluate internal activities: Choose number 1: Bad; Choose number 2:
Moderate; Choose number 3: Good; Choose number 4: Perfect.
Customer questions (sample question booklet in Appendix 2):
- Customer experience with VCB: Choose number 1: Very bad; Choose number
2: Bad; Choose number 3: Moderate; Choose number 4: Good; Choose number 5: Perfect.
Basing on the listed 20 people that would be surveyed, the data collection process was carried on as below:
The questionnaire was printed and distributed to participants, accompanied by verbal instructions on how to complete it For individuals who could not be contacted directly, the questionnaire was sent via email.
- Step 2 : The answer sheets were collected and checked for quality assurance to avoid misleading results.
- Step 3 : Under-qualified answers were clarified and made qualified immediately.
Research tools
The Internal Factor Evaluation (IFE) Matrix is a strategic tool designed to assess a company's internal environment, highlighting its strengths and weaknesses By identifying key internal factors, businesses can determine what they excel at or possess that is more valuable than their competitors.
24 competitors have? In case of the weaknesses, ask which areas of the company that could be improved and at least caught up with the competitors.
Creating the IFE matrix includes 5 steps:
- Step 1 : List out factors that have crucial internal impacts on the competitive advantage of the company (10-20 factors).
- Step 2 : Accordingly determine value for each factor with minimum value of 0.0
(not important) and maximum value of 1.0 (extremely important); write the value in the weight column The sum of this column must me 1.0.
Internal factors Weight Rating Weighted score
In Step 3, the rating system ranges from 1 to 4, where a rating of 1 indicates a severe weakness in the company, while a rating of 2 signifies a slight weakness Conversely, a rating of 3 reflects a mild strength, and a rating of 4 denotes a solid strength.
- Step 4 : Calculate the weighted score for each factor by multiplying its weight with its rating relatively.
To assess a company's competitive capability in the market, sum all the weighted scores A total exceeding 2.5 indicates above-average competitiveness, while a score below 2.5 suggests the company is weak in the market.
The External Factor Evaluation (EFE) Matrix is a strategy tool for analyzing a company’s external environment and identifying available opportunities and threats.Similar to IFE, creating the EFE matrix includes 5 steps:
- Step 1 : List out factors that have crucial external impacts on the competitive advantage of the company (10-20 factors).
- Step 2 : Each key factor should be assigned a weight ranging from 0.0 (low importance) to 1.0 (high importance) The sum of this column must be 1.0.
External factors Weight Rating Weighted score
In Step 3, the external matrix rating assesses the effectiveness of the company's current strategy in addressing opportunities and threats Ratings range from 4 to 1, where a score of 4 signifies a superior response, 3 indicates an above-average response, 2 reflects an average response, and 1 denotes a poor response.
- Step 4 : Calculate the weighted score for each factor by multiplying its wight with its score relatively.
To assess a company's competitive capability in the market, sum all the weighted scores A total exceeding 2.5 indicates above-average response effectiveness, while a score below 2.5 suggests the company is ineffectively responsive to external factors.
3.5.3 Developing and Selecting strategy tools
SWOT analysis is a strategic framework used to assess a company's competitive position by examining its strengths, weaknesses, opportunities, and threats This evaluation considers both internal and external factors, enabling businesses to identify current and future opportunities for growth and improvement.
This matrix integrates the previously discussed IFE and EFE matrices After identifying the internal and external factors influencing the company, proceed with the subsequent steps.
- Step 1: List out the main factors in the 4 quarters (Strengths, Weaknesses, Opportunities, Threats) respectively.
- Step 2: Pairing the factors logically; Creating the strategic combination: S/O, S/T, W/O, W/T.
- Step 3: Pointing out the logical combinations of the 4 factors S+W+O+T to create strategies.
- Step 4: Double-check the created strategies, group them in a way that they support each other in the run.
- Clearly shows all factors that directly affect company’s performance;
- Comes up with strategies that are suitable for the current situation of the company.
Disadvantages: The SWOT matrix works very well at giving alternative strategies but there is no hint/suggestion for decision.
The Internal External (IE) Matrix is a strategic management tool that combines the External Factor Evaluation (EFE) and Internal Factor Evaluation (IFE) matrices This nine-cell matrix effectively organizes an organization's divisions, allowing for the analysis of their current positions and the formulation of future strategies.
This IE Matrix depends on 02 main aspects:
- Total score of the IFE matrix shown on the X-axis:
If 1.0 total score 1.99, the company is internally weak
If 2.0 total score 2.99, the company is internally moderate
If 3.0 total score 4.0, the company is internally strong
- Total score of the EFE matrix shown on the Y-axis:
Total score of the IFE matrix
Total score of the EFE matrix
VI, VIII, IX: Should Harvest and eliminate
The Quantitative Strategic Planning Matrix (QSPM) is a vital strategic management tool that evaluates the attractiveness of various strategies and prioritizes strategic options By systematically assessing both external and internal environments, firms can effectively determine the feasibility of chosen strategies The QSPM emphasizes the importance of conducting thorough research, analyzing the benefits and drawbacks of alternatives, and making informed decisions to select the most effective course of action.
To build the QSPM matrix, the 06 steps below have to be done:
- Step 1: List the factors found and analyzed from IFE and EFE matrices.
Factors Weight Strategy 1 Strategy 2 Strategy 3
AS is ranged from 1-4 (similar to IFE &
AS is ranged from 1-4 (similar to IFE &
AS is ranged from 1-4 (similar to IFE &
- Step 2: Categorize by groups (internal, external)
- Step 3: Study the strategies found in SWOT matrix and IE matrix, combine them and see if there is any of the current strategies that can be replaced and implemented.
- Step 4: Determine the Attractiveness Score (AS) accordingly: AS is ranged from 1-4 1 = Not Attractive; 2 = Somewhat Attractive; 3 = ReasonablyAttractive; 4 = Highly Attractive.
- Step 5: Calculate the Total Attractiveness Score (TAS) by multiplying Weight and AS.
- Step 6: Calculate the total TAS of each strategy, which is the sum of columns.
The most appealing strategy is determined by the highest total TAS in step 6 Businesses have a variety of strategies to choose from, each with unique implementation methods that can be executed individually or in combination The strategy selection process necessitates a thorough analysis of both subjective and objective factors It is essential to understand that while portfolio analysis results are valuable, they are not the sole tool in this process.
VCBHCM
The reality of customer care in CBSD1 – VCBHCM
In 2018, VCB HCM revamped its customer care strategy, recognizing the crucial role of Sales Officers in enhancing service quality Previously, the bank employed a "One-on-one care" approach, where a single officer managed all customer interactions However, following a strategic decision by the branch leader, the bank transitioned to a "Functional caring" model, delegating responsibilities to specialized departments This new strategy, which focuses on aftersales support by CBSD1 while marketing and contract processes are handled by the marketing department, remains in effect today To evaluate the effectiveness of these strategies, the author analyzed department sales results over the past five years, as detailed in Table 4.1 and further elaborated in the appendix.
Table 4.1 Department sales results of the recent 5 years
The data indicates that since the implementation of the new strategy, there has been no increase in new customers or net revenue VCBHCM CBSD1 remained unaffected, viewing the situation as a unique case According to the Deputy Manager, the department was adapting to the new customer care plan in 2018, which was progressing as intended Unfortunately, the COVID-19 pandemic in 2019 and 2020 significantly impacted the organization's overall performance, leading to poor results In response, both the department and the organization made concerted efforts to recover, as reflected in the 2021 performance data Consequently, the administrative board has decided to extend the implementation period until the end of 2023 to evaluate its effectiveness.
In a conversation with Mr Nguyen Nhat Hoang from CBSD1, it was revealed that "one-on-one care" is more effective than "functional caring" due to the familiarity it fosters with customers He emphasized that providing care from the initial contract signing through to aftersales creates a more comfortable experience for customers, as it strengthens the connection between CBSD1 employees and their clients.
The VCBHCM customer care survey was conducted from June 20 to August 1, 2022, involving 50 customers After distributing the survey, the collected data was processed in Excel to calculate average scores for each factor The results were then summarized in a table, illustrating VCBHCM's customer care performance.
Employees instruct customers entirely and understandably
Employees have positive attitudes with customers
Services are served on time 0% 0% 24% 36% 40% 4.16
Employees are knowledgeable and always ready to answer customers’ questions
Customers feel that their information is highly secured
Employees react quickly and precisely whenever customers inform having problems
Employees are well dressed when they meet up with customers
Customers feel respected and fulfilled after every care time
Customers will recommend VCB’s services to friends and family
Customers feel connected to the support agency
Evaluation of the reality of customer care in CBSD1 – VCBHCM
Table 4.2 indicates that the majority of customers rate the quality of customer care at VCBHCM as above average Specifically, the data highlights the high level of employee training, with exceptional ratings in areas such as customer instruction, attitudes, flexibility, information security, and overall manners.
Customers experience long wait times for VCB services, which, combined with the "Functional caring" strategy mentioned by Mr Hoang, results in a lack of familiarity among users This significant disadvantage is largely unchangeable and will be discussed in detail in the following section.
The long wait times at CBSD1 are influenced by customers' perceptions, including the importance of high information security and a network of legitimate procedures Additionally, VCB emphasizes the need for customers to recognize that the branch's location can affect service speed, making it essential to ensure maintenance is completed as quickly as possible.
CHAPTER V: REFINING THE CUSTOMER CARE STRATEGY FOR VCBHCM
5.1 Base proposal and refinement of customer care service of VCBHCM in the near future
Several external factors significantly impact the quality of customer care, and the author has identified eight key factors for evaluation, as illustrated in the table below.
External factors Weight Rating Weighted score
Science and Technology development 0.134 4 0.536 The need of POS terminal is increasing
Likelihood to attract high-class customers
New comers into the market 0.122 2 0.244
Focusing more on organizations than individual customer 0.065 2 0.13
Technology is getting more complex 0.072 2 0.144
The weighted score of 2.857 indicates that the organization's ability to respond to external environmental factors is above average, though not exceptional Current strategies have enabled the bank to effectively address both opportunities and threats.
Internal factors Weight Rating Weighted score
Strong and stable financial resources 0.084 4 0.336
Qualified and enthusiastic leadership 0.118 3 0.354 Legitimate reputation and brand name 0.119 4 0.476
Variety of products and services 0.128 3 0.384
High-quality products and services 0.079 3 0.237
Delays to wait for IT department to solve software problem 0.112 2 0.224
Long wait-time due to many procedures 0.111 2 0.222
By grouping the factors used in EFE and IFE matrix, the author have come up with a completed SWOT matrix with strategy reccomenedations as shown in Table 5.3.
Table 5.3 SWOT matrix & strategy reccomendations
O2: The need of POS terminal is increasing O3: Likelihood to attract high-class customers
T2: New comers into the market
T3: Focusing more on organizations than individual customer T4: Technology is getting more complex
S1: Strong and stable financial resources
S4: Legitimate reputation and brand name
S5: Variety of products and services
S6: High-quality products and services
W2: Delays to wait for IT department to solve software problem
W3: Long wait-time due to many procedures
(Source: Generalized and created by author)
5.2 Customer care strategy proposal for near future
5.2.1 Strategy proposal from IE Matrix (Internal-External)
Total score of the IFE matrix
(Source: Generalized and created by author)
The EFE matrix scores 2.857 and the IFE matrix scores 2.807, placing VCB in position V of the IE matrix, indicating a strategy of hold and maintain Recommended strategies that align with VCB's capabilities include a Marketing Development Strategy and an Additional Service Development Strategy.
According to the SWOT matrix and the IE matrix analysis, the author proposes the 5 strategies:
- Strategy 2: Additional Service Development Strategy
- Strategy 3: Weak-point Improvement Strategy
- Strategy 5: Restructuring Human Resource Strategy
External factors Total Attractive Score
Science and Technology development 12.00 12.00 9.00 9.00 6.00 The need of POS terminal is increasing 12.96 12.96 12.96 6.48 9.72 Likelihood to attract high-class customers
New comers into the market 10.64 7.98 5.32 7.98 10.64
Focusing more on organizations than 5.96 8.94 8.94 8.94 8.94
Technology is getting more complex 7.02 7.02 9.36 9.36 4.68
Internal Factors Total Attractive Score
Strong and stable financial resources 8.22 8.22 10.96 10.96 10.96
Qualified and enthusiastic leadership 9.84 9.84 6.56 9.84 9.84 Legitimate reputation and brand name 12.08 12.08 12.08 9.06 9.06 Variety of products and services 11.92 8.94 8.94 5.96 5.96 High-quality products and services 8.64 11.52 5.76 5.76 11.52
Delays to wait for IT department to solve software problem
Long wait-time due to many procedures 13.44 10.08 6.72 10.08 13.44
(Source: Generalized and created by author)
So, the QSPM show that:
- Strategy 1 (Marketing Development Strategy) has the highest attractive score with 170.4 points and it is going to be the first chosen strategy.
- Strategy 5 (Reconstructing Human Resource Strategy) is the second strategy to be chosen with 158.74 points.
VCB HCM CBSD1 should prioritize its Marketing Development Strategy as the next step in enhancing its customer care strategy Continuous evaluation and adjustments will be made during the implementation phase to ensure effectiveness.
5.3 Solutions for implementation of new strategies
A dynamic and resourceful team is essential for a corporation to excel in a competitive market, including the banking sector For Vietcombank to enhance its customer care strategy, it must focus on three key aspects of human resource planning: identifying human resource needs, selecting the right personnel, and investing in training and development.
Vietcombank's human resource planning is crucial for its success, particularly in implementing its mobile network delivery strategy This involves accurately identifying the specific human resource needs, including the number of personnel, types of roles, and required skill levels Additionally, a comprehensive plan for acquiring the necessary human resources is essential for effective network development.
Vietcombank must implement a thorough selection process to acquire the necessary human resources, aligning with its strategic direction and future goals This involves developing a comprehensive set of standards and criteria for each position within customer care, focusing on qualifications, professional training, relevant work experience, foreign language skills, information technology proficiency, and a dynamic, enthusiastic approach to work.
Training and development are crucial for enhancing staff qualifications and skills at Vietcombank Regular training should align with the bank's customer care goals and strategies, focusing on both the recruitment of new employees and the retention of existing staff It is essential to develop human resources to ensure effective strategy implementation while maintaining high quality Additionally, Vietcombank must establish policies for annual retraining and foster an environment that encourages self-training and professional skill enhancement.
Vietcombank is a leading bank in Vietnam with a team of knowledgeable and friendly employees If Vietcombank wants to strengthen customers' trust and high credibility in
To establish a favorable perception of Vietcombank among customers, it is essential to implement a cohesive branding strategy that includes eye-catching posters, distinctive logos, memorable slogans, and thoughtfully designed headquarters This encompasses both interior and exterior workplace aesthetics, as well as the quality of services and transaction styles Furthermore, advertising efforts must be synchronized and consistent across the entire network to reinforce the bank's image effectively.
- Promoting co-contributions to social security and the community by implementing scholarship fundraising programs, organizing charitable sporting events, and sponsoring public projects.
Vietcombank must prioritize the consistent and ongoing development of its brand identity By emphasizing marketing as a crucial component of its business strategy, the bank can effectively promote its products and services to a wider audience This approach will not only attract new customers but also foster strong, lasting relationships between Vietcombank and its clientele.
My internship at Vietcombank HCM was an invaluable experience, thanks to the welcoming staff and supportive environment that fostered my growth It allowed me to discover my strengths and identify areas for improvement, boosting my confidence and enhancing my professional attitude I learned the importance of teamwork and gained practical experience that complemented my theoretical knowledge I am particularly grateful to the Corporate Banking Services Department 1 for their exceptional support, which made my internship truly rewarding and helped me understand my competencies in human resources.
I came to know about the importance of customer care and the role of Sale Agency in an organization.
During my internship, I maximized my limited workspace to gain valuable experiences by seizing every opportunity and effectively applying my academic skills My efforts were recognized, highlighting the gap between theoretical knowledge and practical application Fortunately, the managerial staff was receptive to enhancing current practices, which served as a significant source of motivation.
My internship experience was a significant milestone in my academic and professional journey I embraced the daily challenges and made minor improvements that left a lasting impact The lessons I learned during this time will be invaluable for my future endeavors.
During my internship at Vietcombank HCMC, I gained valuable insights that will benefit my future career Adapting my mindset and body to a professional environment was crucial, as the transition from university to work required a new schedule to avoid stress and frustration To manage my tasks effectively, I created a to-do list, sought guidance from my supervisor, familiarized myself with new responsibilities, and allowed time for adjustment Punctuality emerged as essential, not just for productivity but also for maintaining a positive reputation Additionally, establishing a clear boundary between work and personal life enhanced my professionalism, as workplace interactions differ significantly from university friendships Lastly, finding a mentor proved invaluable, as real-world experience often surpasses theoretical knowledge These four lessons from my internship have shaped my understanding of the professional landscape.
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Appendix 1&2 Evaluation of S, W, O, T from officers
2 The need of POS terminal is increasing 1 2 3 4 1 2 3 4
3 Likelihood to attract high-class customers 1 2 3 4 1 2 3 4
5 New comers into the market 1 2 3 4 1 2 3 4
6 Focusing more on organizations than individual customer
7 Technology is getting more complex 1 2 3 4 1 2 3 4
9 Strong and stable financial resources 1 2 3 4 1 2 3 4
12 Legitimate reputation and brand name 1 2 3 4 1 2 3 4
13 Variety of products and services 1 2 3 4 1 2 3 4
14 High-quality products and services 1 2 3 4 1 2 3 4
16 Delays to wait for IT department to solve software problem
17 Long wait-time due to many procedures 1 2 3 4 1 2 3 4
(Source: Designed by author) Appendix 2 Customer question booklet
Employees instruct customers entirely and understandably
Employees have positive attitudes with customers
Services are served on time
Employees are knowledgeable and always ready to answer customers’