ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- TRỊNH TRỌNG THỦY IMPROVING CORPORATE CULTURE AT VIETNAM PROSPERTIRY BANK HOÀN THIỆN VĂN HÓA DOANH NGHIỆP TẠI NGÂN HÀNG VPBANK LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH Hà Nội - 2017 TIEU LUAN MOI download : skknchat@gmail.com ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- TRỊNH TRỌNG THỦY IMPROVING CORPORATE CULTURE AT VIETNAM PROSPERTIRY BANK HOÀN THIỆN VĂN HÓA DOANH NGHIỆP TẠI NGÂN HÀNG VPBANK Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. TRỊNH NGỌC HUY Hà Nội - 2017 TIEU LUAN MOI download : skknchat@gmail.com DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article. The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given. The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration.
Date: November, 01, 2017 i TIEU LUAN MOI download : skknchat@gmail.com ACKNOWLEDGEMENT I have gained huge knowledge, skill and insights from my MBA course. The course raises my capacity of administration and management up to the next level. I am now very confident in my position of management. I would like to extend my sincerest thanks and appreciation to all those who have made this Thesis to be possible.
I woud like to express my great gratitude to my supervisor Mr. Trinh Ngoc Huy for his useful comments, remarks and engagement during my process of doing this master thesis. Also, I would like to give my sincere thanks to staff of Vietnam Prosperity Bank, in my survey, who have willingly spent their precious time joining the interview. Sincere thanks are extended to the Hanoi School of Business and Management (HSB) - Vietnam National University, Hanoi for equipping me with huge knowledge and skills through various interesting and practical subjects.
I also would like to thanks my classmates for their friendship and reciprocal encouragement to make our class time to be unforgettable time Lastly, I would like to give my great thanks to my wife, my kids, and my family who always standby me during the past two years and encourages me to keep moving from the beginning of my study. ii TIEU LUAN MOI download : skknchat@gmail. Summary of the result With the synthesis of corporate culture theory of researchers, foreign and domestic scholars, the author made the choice of corporate culture analysis method at VPBank, according to OCAI model, with four types of corporate culture, namely family culture, hierarchical culture, creative culture, competitive culture. From there, it was necessary for the author to not only determine the type of corporate culture expressed at VPBank but also identify the corporate culture that VPBank staff desire in the future.
As can be seen from the results, family and market culture are expressed strongly at VPBank, and in the future, VPBank staff recommend a higher creative culture at work. Besides, the author based on the content of survey to point out that there were some limitations in tangible value as weak sites about the rituals, festivals, the story, anecdotes of the enterprise, or declared value or common concept like the core value, information sharing that were limited points. Therefore, the proposed is to strengthen creative culture value and improve above corporate culture facts at VPBank 2. Applicability in practice Business culture in general and corporate culture in particular always accompany with the sustainable development of any business.
The more businesses want to develop, the more they need to build the solid foundation on culture, thereby creating coherence in the internal business, and the pride of employees with business, and create your own business style to help affirm corporate brand on the market. As a result, the issue of corporate culture research always has the urgency in accordance with requirements of the enterprise development. Hence, the author's research results will contribute a part in the direction of building enterprise culture for VPBank, following the consistent with the demands of VPBank officials staff, at the same time, the solution will contribute to the selection of building corporate culture direction of VPBank leaders. With positive and convince results that the author did, it might be believed that recommendations that the author gave are iii TIEU LUAN MOI download : skknchat@gmail.VPBank realistic high and meet the current characteristics of enterprise culture at VPBank and also support for the construction of enterprise culture at VPBank in the future.
Further research orientations If there are further research conditions, the author hopes to perform further research about corporate culture at VPBank accompanied the evaluation of enterprise culture model in a more diversified way, and use models such as family culture Model, Eiffel Tower culture model, homing missiles culture model, incubation culture model. There also needs additional researches about banking business culture to complete a more detail view on the characteristic culture at VPBank, from which propose better recommendations for VPBank.VPBank TIEU LUAN MOI download : skknchat@gmail.VPBank TABLE OF CONTENTS DECLARATION. iii TABLE OF CONTENTS. v LIST OF TABLES.
viii LIST OF FIGURES AND PICTURE. 1 CHAPTER 1: CORPORATE CULTURE THEORY AND CORPORATE CULTURE MODEL IN COMMERCIAL BANKS .1 An overview of corporate culture .2 Characteristics of corporate culture .3 The necessity of building corporate culture .2 Factors influencing the corporate culture .2 The leader’s characteristic .3 Other corporate culture .5 The business industry.3 Components of corporate culture .2 Statement about corporate culture .4 Components of the bank’s corporate culture .5 Business culture models .1 Clan oriented culture model .2 Adhocracy oriented cultures .3 Market oriented cultures .4 Hierarchy oriented cultures.VPBank TIEU LUAN MOI download : skknchat@gmail.VPBank CHAPTER 2 ACTUAL STATUS OF CORPORATE CULTURE OF VPBANK .1 Overview of Vietnam Prosperity Joint Stock Commercial Bank .1 The formation and development process .2 Business mission and function .3 Organizational structure and departments .2 VPBank ’s corporate culture contents .2 The statement of corporate values .3 The actual status of corporate culture of VPBank by survey.1 Assessing the levels of VPBank 's corporate culture .2 Identify the VPBank ’s corporate culture model and future oriented. The affecting factors on the VP Bank corporate culture. The national culture.
The learned cultural values. The business industry. 59 CHAPTER 3 SOLUTIONS FOR IMPROVING THE CORPORATE CULTURE OF VPBANK. The development direction for the VPBank corporate culture.
Solutions for improving the corporate culture of VPBank. Complete the general concepts. Complete the declared values. Building the visible values to create the special characteristics in VPBank corporate culture.
Training and enhancing the understanding of corporate culture. Other supplemental solutions .VPBank TIEU LUAN MOI download : skknchat@gmail. Improve the legal framework of the State.3 Enhance the leadership of the Party, and management effectiveness of the Goverment .VPBank TIEU LUAN MOI download : skknchat@gmail.VPBank LIST OF TABLES Table 2.1 Business results of VPBank .2 The main ideal in business operation of VPBank .3 Special architectural features.4 VPBank 's policy documents .5 Main ritual and ceremonies of VPBank .6 Annual charity events .7 Assessment of corporate culture levels .8 The VPBank ’s corporate culture model under the evaluation of staffs.6 The VPBank ’s corporate culture model under the evaluation of staffs .9 The VPBank ’s corporate culture model under the evaluation of middle leaders .10 The VPBank ’s corporate culture model under the evaluation of senior leaders .11 General assessment on VPBank ’s corporate culture model .12 Strength and Weaknesses in the direction develop the corporate culture models in VPBank .VPBank TIEU LUAN MOI download : skknchat@gmail.VPBank LIST OF FIGURES AND PICTURE Figure Figure 2.1 Structure of VPBank .2 Visible values assessment .3 Declared values and General concepts assessment .4 Visible values assessments by surveyed groups .5 Declared values and General concepts assessments by surveyed groups .6 The VPBank ’s corporate culture model under the evaluation of staffs .7 The VPBank ’s corporate culture model under the evaluation of middle leaders .8 The VPBank ’s corporate culture model under the evaluation of senior leaders .9 General assessment on VPBank ’s corporate culture model .VPBank TIEU LUAN MOI download : skknchat@gmail. Rationale Vietnam is in the process of deepening integration with the regional and world economy.
The integration process plays an important role in expanding the trade and exchange activities of the whole industries, institutions (enterprises) with the rest of the world. Economic integration will gradually remove trading (and investment) barriers, enter the international markets, reach to the new technologies and modern management experience. At the same time, the integration process promotes innovation and enhances the competitiveness of domestic firms, promotes economic growth, reallocates resources efficiently, and enhances the living standards, attracting finance, science and technology. This actual requires each country (industry, sector) in general and each enterprise in particular to actively integrate, promote strengths, remove the weaknesses in order to create competitive advantage and development.
Banking sector is no exception to the above trend. Naturally, the economic integration creates favorable conditions for foreign banks that have large-scale, high-level of management, huge capital and finance. enter the Vietnam banking market, exploitation our country's financial market. This is one of the greatest pressures on commercial banks in Vietnam.
The strength of an enterprise is not only shaped by external resources (such as assets, capital, quality and quantity of labor .) but also by organizational factors. The corporate culture is an invaluable invisible asset of every enterprise. The corporate culture is “the soul, belief, attitude and the value” that stable exist in enterprise. Corporate culture is built on factors including: business and management philosophy; Motivation of individuals and organizations; Regulatory system; Information system; Movement, Ceremony (Ritual).
Building corporate culture in the organization is important to motivate employees, reduce conflicts in the enterprise, improve the efficiency of inspection and control, and improve the competitive advantage of the enterprise. Realize the important of corporate culture, Vietnam Prosperity Bank (VPBank) has built up its own specific culture and creates its strength to overcome 1 (LUAN.VPBank TIEU LUAN MOI download : skknchat@gmail.VPBank all difficulties and challenges to become a leader in many aspects of commercial banks in Vietnam. However, VPBank ’s culture is still limited and not yet really fit with its potential and the expectation of employees. Moreover, the issue of research on corporate culture at VPBank has not been done in a science way, and there is not any research project related to the corporate culture at VPBank is done up to now.
Therefore, the author has chosen the topic of "Corporate culture at Vietnam Prosperity Bank" to fulfillment the master thesis because of these practical and research requirements above. Literature review The phrase of "cultural entrepreneur" or "corporate culture" is no stranger to business man and those who care about the economy, in general. Besides capital, finance, labor resource, management skill, business strategy…, the strength of corporate culture made the difference between the enterprise and its competitors. In other words, corporate culture has a very important role that helps stabilize the business grows and making relationship between business owners with employees, partners, customers become better.Because of its importance, researchers and business managers have spent a lot of time in studying the field of corporate culture.
Following are several typical case studies: E. Schein (1992) ran a research on "Organizational Culture and Leadership". According to Schein, the structure of corporate culture can be divided into three different “layers”. The term "layer" refers to the extent possible sense of the cultural values of the organization, or in other words, it is the visible and invisible property of corporate cultural values.
In this research, the author pointed out the “three layers model” of corporate culture.