NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES BUSINESS ENGLISH DEPARTMENT VU SONG HIEP FACTORS AFFECTING THE WORK MOTIVATION OF SALESPEOPLE AT LTV., JSC COMPANY NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES BUSINESS ENGLISH DEPARTMENT VU SONG HIEP FACTORS AFFECTING THE WORK MOTIVATION OF SALESPEOPLE AT LTV., JSC COMPANY Supervisor: Tran Thi Dan Huyen, Vũ Song Hiệp — 11191915 — Business English 61C ACKNOWLEDGEMENT Throughout my time at National Economics University, I gained the attention and support of numerous organizations, individuals, and teachers both inside and outside the university. Because of them, I had the most wonderful time of my university life, filled with vivid and delightful memories. As a result, I would like to begin by thanking all the lecturers who have enthusiastically guided and taught me the knowledge over the last three years. I'd like to convey my heartfelt gratitude to Dr.
Tran Thi Dan Huyen, who actively led and aided me with responsibility and passion during my internship and thesis writing process. I would like to thank Mr. Do Duc Bao (Director), Mr. Ngo Van Thai (Business Manager) and Ms.
Do Khanh Linh (HR Manager) of LTV Company for supporting and facilitating my experience in real-world employment, the opportunity to apply theoretical knowledge to reality, and the provision of critical information and data for the research process. Furthermore, I would like to thank all the employees and managers at LTV Company for helping me whenever it was required. Without their willing assistance, I would not have been able to finish my internship. Vũ Song Hiệp — 11191915 — Business English 61C EXECUTIVE SUMMARY The primary goal of this research was to thoroughly investigate the factors influencing the work motivation of LTV Company salespeople.
This descriptive study looked at the effects of various variables on employee motivation (Job Satisfaction, Intrinsic Motivation, Extrinsic Motivation, Organizational Commitment, and Compensation). The previous literature was analyzed and reviewed to highlight some of the key issues addressed in this research. The inquiry was conducted in a rational and analytical manner, with questionnaires used to conduct a survey. The study's sample size was 31 people.
According to the findings, all five factors included in the research, including job satisfaction, intrinsic motivation, extrinsic motivation, organizational commitment, and compensation, have a significant relationship with salespeople's performance; however, some elements in each factor discourage their working motivation. Finally, the survey results are discussed to make some recommendations for improving work motivation based on the remaining problem deducing from the five factors, mostly the inner motivation of the staffs. ii Vũ Song Hiệp — 11191915 — Business English 61C TABLE OF CONTENTS ACKNOWLEDGEMENTT. Hi 000000960 i EXECUTIVE SUMMA RRYY.
6 << HH Họ HH 00000998896 ii LIST OF TABLES. 0 00 000908906 Vv LIST OF FIGURES .00000090600898 86 vi LIST OF ABBREVIA THONNS. Research TaÝÏOII4Ì€. Research Oj]j©CẨÏVS.
Research object and SCOJD€. Học 000000840089 0850 5 CHAPTER 1: INTRODUCTION OF THE LONG TRUONG VINH JSC.1, History of the COMPANY n6. Characteristics of Long Truong Vinh., JSC’s production and business. Organizational SÍTHCÍHHT.
Employment situation of the Long Truong Vinh. The compensation policies at the Hanoi headquarters of Long Truong Vinh. Financial compensation of Long Truong Vĩnh. The job components of Long Truong Vinh,.
Working environment of Long Truong Vĩnh.«<<< 15 CHAPTER 2: THEORETICAL FRAMEWORK. The role of WOTK Motivation. The effect of work motivation on Sales PervfOrMANCe .ccscscceseseeeseeseeseees 22 1H Vũ Song Hiệp — 11191915 — Business English 61C 2. Factors influencing On WOrk HIOẨÍVAÍOHH.
Intrinsic MĨOfÍVAIÍÏOH. ch nh HH HH TH nh HH 24 2. Extrinsic MOtivatiOn n6 n6 ốố. Organizational COIHIHÍIINCPIÍ.
SHth 26 CHAPTER 3: RESEARCH METHODOLOGY. Data COÏÏ@CÍ[ODH. HH TH HT 28 3. FOIA] veSCAICH nốố.sscsesssssscssssnssesssssssssnssenscessssssascncsenscsssesesesensesssescnsssasessseesees 31 CHAPTER 4: FINDINGS AND DISCUSSION.
Sample CÍAT((CÍ€TLSÍÍCS. TH TH ngờ 32 2,7. Employees’ assessment on the Job SafiSƒ4CÍÏOH. Employees’ assessment on their Intrinsic Motivation.
Employees’ assessment on their Extrinsic MÍofÏVafiOH. Employees’ assessment on their Organization COIMHÌHM€HI. Employees’ assessment on the Company’s CormD€HsdfiOH. Conclusion Of the SÍLỈY.
ng me 40 CHAPTER 5: RECOMMENDA TIONG. Go HH 0096 1s 56 43 1S UẼ. INtrinsic HIOÍÍVAHOHH. ELXÍTLHHSLC HHLOÍÏVẨÏODH.
COMPANY COHHHITHIÍTHLC HH. TH TH ngờ 45 CONCLUSIONN.o G0 cọ TH HH 0 100000900000096000096604 080 46 REFERENCES APPENDIX: QUESTIONNAIRE IV Vũ Song Hiệp — 11191915 — Business English 61C LIST OF TABLES Table 1. 1: Qualification of Long Truong Vinh., JSC's employees in Q1/2023. 2: Total bonus of Long Truong Vinh.
3: Brief version of corporate culture of Long Truong Vinh. Factors affecting job satisfaction of salespeople in LTV Company ¬—. 1: Mean Scores for Variables .- --- sàng HH, 35 Table 4. 2: Mean Scores for Job Satisfaction variables.
3: Mean Scores for Intrinsic Motivation variables. 4: Mean Scores for Extrinsic Motivation variables. 5: Mean Scores for Organization Commitment variables. 6: Mean Scores for Company’s Compensation variables.
39 Vũ Song Hiệp — 11191915 — Business English 61C LIST OF FIGURES Figure 1.1: Long Truong Vinh., JSC organizational strucfure.1: The proposed research model. 1 Gender in LTV’s Sales Team (2023). Age in LTV’s Sales Team (2023).--- --- St ssneireereree 33 Figure 4. Working seniority in LTV’s Sales Team (2023).
Income in LTV’s Sales Team (2023) .ccccecceeseceseeeeeeeeneeeneeeeees 34 vi Vũ Song Hiệp — 11191915 — Business English 61C LIST OF ABBREVIATIONS Abbreviation Meaning HR Human resources JSC Joint Stock Company LTV Long Truong Vinh M Mean Number Q Quarter SD Standard Deviation Std. Deviation | Standard Deviation vil Vũ Song Hiệp — 11191915 — Business English 61C INTRODUCTION 1. Background The purpose of this research is to investigate the factors affecting work motivation of salespeople at LTV., JSC Company and to propose recommendation for the company to adjust the policies to motivate salespeople. The research is intended to present a uniform understanding of the group of factors as well as suggestions to inspire salesmen in the modern world.
This research is meant for use by large and small operators in publicly or privately owned operations to study factors influencing worker motivation as a solution to stimulate labor and economic demand. The study was created through literature searches of previous studies, data of the LTV Company and online surveys with a selection of salespeople in LTV Company. The main body of this research contains the introduction of the LTV company, the theoretical framework, findings, analysis, and some recommendations. An appendix provides the survey form of factors affecting the work motivation of salespeople in LTV Company.
Research rationale The business division is the driving force behind all company or business operations, bringing customers closer to the products and assisting them in their understanding and use. Consequently, the performance of salespeople in marketing is to create a sustainable competitive advantage over competitors (Hossain, Sultana & Mazmum, 2016; Dey et al. When employees are motivated enough to work, they will show a more positive attitude at work. Therefore, encouraging salespeople at work can improve the performance of the organization as a whole and the productivity of the business division in particular.
Armstrong (2006) defined job satisfaction as people's feelings and attitudes toward their profession, as shown by a positive and favorable attitude toward it. The perceptions of sales representatives' supervisors, according to Tai, Huang, and Chuang (2016), show confidence-related conduct toward the sales manager. Trust has a connection to salespeople's overall success in the organization as well as their job satisfaction. The competitive operating environment, the rapid expansion of critical product lines, and the requirement to sell to new clients more successfully are all Vũ Song Hiệp — 11191915 — Business English 61C challenges facing today's technology enterprises.
As a result, the effectiveness of salesperson performance is essential for completing organizational tasks (Hossain et al. Furthermore, despite the economic downturn and global competition, the telecommunications industry is rapidly expanding (Uddin et al. As a result, improved sales performance in a mobile service company is critical to increasing profit in the organization. Previous empirical studies have emphasized the significance of work motivation and the many effects connected to job performance.
Employees' sentiments about their jobs are influenced by their jobs, and job motivation can be used to forecast employee behavior in the workplace, such as absenteeism. The premises that have a positive impact on the performance of the sales department staff are still unexplored and call for more study, despite the fact that the relationship between work motivation and other significant factors such as workplace conditions, employee well-being, workplace stress, and social interference has been thoroughly studied. Despite the substantial quantity of research done on this subject, there is still a research gap left by other scholars, particularly at LTV Company. It is increasingly difficult for companies to attract highly qualified sales staff and to compensate employees, resulting in worker dissatisfaction in the industry.
LTV Company tried to use a variety of techniques to deal with the many barriers that had arisen in the previous few years to maintain its position in the market. The reward management system is one of these techniques. The researcher's objective in this study was to ascertain the efficacy of this method for assessing employee motivation as a proxy for workplace performance. The researcher selected the topic "Factors affecting work motivation of salespeople at LTV., JSC Company" due to the theoretical gap and the practical necessity.
This chapter shows the theoretical basis of the topic, research objectives, research questions, research objects, research scope, and structure of the topic. Research objectives The purpose of this study was to investigate the following specific objectives: First, identifying the factors affecting the work motivation of salespeople in LTV Company. Second, examining the effect of the factors on work motivation of salespeople at LTV Company. Vũ Song Hiệp — 11191915 — Business English 61C Third, proposing recommendations for the company to adjust the policies to motivate salespeople.
Research questions To achieve the aforementioned goals, research is carried out to discover the answers to the following research questions: Question |: What factors influences the work motivation of salespeople? Question 2: How do the factors affect the work motivation of sales department employees? Question 3: What solutions should be taken to improve the work motivation of employees in the company? 4. Research object and scope Research objects This study focuses on investigating organizational policies, the work environment, employee satisfaction, and how these factors relate to salespeople's drive to succeed at their jobs at LTV Company. Research scope Geographical scope: LTV Company Limited. Time scope: Data were collected from the survey responses of the Salespeople at LTV Company in 2023.
Content scope: The content of this study includes issues related to compensation, the work environment of LTV Company, and employees’ motivation, such as a conceptual framework to make the identification, analysis, and evaluation of the relationship between motivation and performance among employees at LTV Company Limited. Research methodology Research Design Vũ Song Hiệp — 11191915 — Business English 61C In order to determine how factors including job satisfaction, intrinsic motivation, extrinsic motivation, organizational commitment, and compensation affect the working motivation of LTV Company salesmen, this study used a descriptive survey research methodology. Orodho (2003) defines a descriptive survey as a method of gathering data through interviews or the distribution of questionnaires to a sample of people. The method helps the researcher collect important data on the situation of the phenomena and, if possible, draw general conclusions from the information acquired.
Researchers can gather and present data from descriptive surveys in a methodical way to study the impact of the aforementioned elements on the work motivation of LTV Company employees working in the business department. Research Instruments The study instrument used to gather data is the questionnaire. The questionnaire is administered using a drop-and-select approach and is divided into three sections in accordance with the research goals. The questionnaire was chosen for data collecting because it offers considerable managerial benefits, including the ability to analyze quickly accumulated data and to uniformly stimulate potentially large numbers of people at once (Borg & Gall, 1989).
Respondents can share their opinions and offer comments on the questionnaire (Gay, 1992).