National Economics University Assignment 2022

NATIONAL ECONOMICS UNIVERSITY
INTERNATIONAL SCHOOL OF MANAGEMENT AND ECONOMICS
BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)
ASSIGNMENT BRIEF
Unit Code, Number and
Title L/618/5036 - Unit 4: Leadership and Management
Semester and Academic
Year Semester 2 / Academic year 2021 - 2022
Unit Assessor(s) Nguyen Van Thuy Anh / Duong Van Bay /Nguyen Ngoc Hien/
Nguyen Thu Tram
Component Number and
Title
LM A2.1: Presenting Motivational Strategy
(Assessment 1 of 2, Individual assignment)
Issue Date Tuesday, April 25th 2022
Submission Date Tuesday, May 17th 2022
Student name
NEU Student ID Pearson
ID
Learner declaration
I certify that the evidence submitted for this assignment is my own. I
have clearly referenced any sources used in the work. I understand
that false declaration is a form of malpractice.
Student name / Signature Date:
Submission format
● This is an individual assignment.
● The submission format is in the form of an E-report. Please refer the “Turnitin Submission
Rules” that was posted on Moodle.
● The file on Turnitin must be in Word format and include the first page of this cover sheet.
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The first page of the cover sheet should be in the picture format in order to ensure the accepted
similarity of Turnitin.
● The similarity allowed is up to 25% after excluding references.
● Name of the file includes Student ID_Unit name_Assessment no. (E.g. “1010001_LM_A2.1”)
● Ensure that authenticity declaration has been signed electronically.
● Plagiarism is unacceptable. Students must cite all sources and input the information by
paraphrasing, summarising, or using direct quotes. A Referral Grade is given when Plagiarism
is identified in your work. There are no exceptions.
● Your evidence/findings must be cited using Harvard Referencing Style. Please refer to
Reference guiding posted on Moodle. The Reference page is compulsory to upload on Turnitin.
● This assignment should be written in a concise, formal business style using Arial 11 or Times
New Roman 13 font size and 1.5 spacing.
● The word limit is 2,000 words (+/- 10%).
● You MUST complete and submit softcopy of your work on the due dates stated on Assignment
brief. All late work is not allowed to submit. This rule is not waived under any circumstances.
● Read ALL Instructions on this Page and review the Pass, Merit and Distinction criteria
carefully. To pass the assignment, you must achieve ALL the Pass Criteria outlined in the
marking sheet. To achieve a Merit, you must achieve ALL the Merit criteria (and therefore the
Pass criteria). To achieve a Distinction, you must achieve ALL the Distinction criteria (and
therefore the Pass and Merit criteria).
Unit Learning Outcomes
LO3: Develop a motivational strategy to optimise organisational performance.
LO4: Apply leadership and management approaches to managing performance to ensure
continuous improvement.
Vocational Scenario
Introduction
Vietcombank - JSC Bank for Foreign Trade of Vietnam, formerly known as Bank for Foreign trade of
Vietnam, was established on 01/04/1963 from the Foreign Exchange Bureau (of the State Bank of
Vietnam).
After more than 50 years of development, Vietcombank has a total asset of 574 thousand billions
Vietnam dong. Vietcombank currently has almost 14,000 employees, more than 400 branches/
transaction offices/ representative office/ affiliates both in Vietnam and abroad, including Head Office
in Hanoi, 1 Operation Centre, 1 Training Center, 89 branches, over 350 transaction offices all over the
country, 2 subsidiaries in Vietnam, 2 subsidiaries and 1 representative office in other countries, 6 joint
ventures. In addition, Vietcombank has also developed an Autobank system with over 2100 ATMs and
more than 49,500 Points of Sale nationwide. Bank’s operations are supported by a network of more
than 1,800 correspondent banks in 155 countries and territories.
Originated as a specialized bank for foreign trade, Vietcombank nowadays has become a, providing
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customers with a wide range of leading financial services in international trade; traditional services
such as capital trading, capital mobilization, credit, project financing…etc., and modern banking
segment such as forex trading and derivatives, card services, e-banking and so on.
Vietcombank has many advantages of applying advanced technology into the automatic banking
system, products development, e-banking services, based on its high technology foundation. Products
such as Internet Banking, VCB Money, SMS Banking, Phone Banking have always attracted a great
deal of customers by its convenience, promptness, safety, efficiency, creating the habit of non-cash
payments amongst the mass. Mr. Nguyen Trung Dung, the new CEO had a clear vision of
development of Vietcombank: ‘To become the powerful diversified financial conglomerate in par with
strongest financial institution in the region in 2030’
In the Employees Induction Handbook, the CEO wrote:
‘Dear Vietcombankers!
After 50 years of establishment and development, Vietcombank generations have contributed
heartedly to a very strong brand name – the Vietcombank - in which we are proud of a differentiated
corporate culture characterized by professional attitude and humanity Vietcombank.
With vision of becoming the powerful diversified financial conglomerate in par with strongest financial
institutions in the region, Vietcombank has been proving itself as the best bank of Vietnam. We are
serving our dear customers with differentiated and qualified products and services on the basis of high
technology infrastructure. However, those offers are still not satisfied our customers unless your
working attitudes are friendly, warmly welcomed, each of us does understand deeply his/her individual
responsibilities, and we, the colleagues treat each other as “family”. By doing this, we can not only
maintain Vietcombank’s good reputation and image to our customers and partners, but also develop a
competitive advantage based on our most valuable assets – our human resources, our corporate
identity and our Vietcombank’s culture…’
Organisational structure
Vietcombank’s mission : ‘To be the best bank for the prosperity of Vietnam’
Philosophy: ‘Always placed at the partner’s position to understand, share and implement the business
in the most effective and efficient ways’
Meaning of Vietcombank’s logo:
❖ A Green and Powerful Vietcombank
❖ A Prestigious and Modern Vietcombank
❖ A Friendly and Shared Vietcombank
Core values:
● Independence – keep prestige and be professional
● Norm – respect the rules and follow the norms and ethical code
● Continuous improvement – always aim to the modern and civilized business practices
● Sustainable development – for long-term perspectives
● Humanity – respect morality, be close and share
Vietcombankers may see Mr. Dung walked the halls, talking with employees from every level in every
division. Most importantly, he listened to employees describe what they thought needed to be done.
He got lots of stories and complaints about company’s being slow to react to market changes,
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stubborn resistance to new ways of thinking, and not listening to what customer want.
As a state-owned company, it was very clear that a traditional management approach was applied to
Vietcombank’s business activities. The values and beliefs are reflected in the attention to rules,
procedures and “control” in all departments. Mr. Dung thinks that the old ways of doing things were too
slow. With the support of consultancy group, he and Vietcombank’ staff made significant progress in
digitalization of banking activities and restructuring the organization.
Organisational structure
Figure 1. VCB organizational structure
The head office focuses on functional activities in order to support the branches/transaction
offices/companies in implementing their operating activities. Followings are the major management
functions of the head office (grouped in Blocks):
- Wholesale Block
- Retailing Block
- Capital/Fund Block
- Risk and Bad Debt Management Block
- Operating Block
● Supporting Block, including Accounting and Finance, and other supporting activities (IT, Administration,
Marketing and Sale, Human Resource Management, R&D, Training and Development…)
The branches and transaction offices are in charge operating activities, dealing with customers to
provide banking services in terms of:
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- Saving deposits
- Individual payments
- Organizational payments
- Debit cards, Credit cards
- Automatic payroll through accounts
- Paying, withdrawing and transferring all types of payments
- Currency exchange, traveler checks
- Personal loan services
- Insurance, financial security
- International payment and transfer
- Electronic banking
There is a strong emphasis on teamwork, with lots of project teams and task forces in operation to
handle tasks like new product or process development. Within each division, the head of department
and staff work closely together as a matter of routine. Across divisions, staff from the individual
specialist areas also get together to handle company-wide issues for example the Human Resource
manager will develop a common approach to payment systems for the whole business. Employees
are rewarded for their expertise and their contribution to the company rather than simply for their
position in the hierarchy or their length of service.
As far as the general management of Vietcombank is concerned, Mr. Dung takes the view that
managers need to see all activities within the business as interdependent. Hence the role of
management is two-fold:
● Firstly, to control activities within the business and co-ordinate operations between the different
departments by the application of clear policies and procedures.
● To effectively handle all “transactions” with other organisations, whether they are suppliers,
customers, government or other types of institutions.
In the office, the open and honest communication amongst manager and staff is encourage on the
purpose to get the job done. A commitment to training and development at Vietcombank creates
positive employee relations. This supports the bank’s commitment to help all its employees continually
broaden their skills base and deepen their knowledge, at every stage of their career.
Since 2013, Vietcombank has always been a strong employer brand on top ten of The 100 Best Place
to Work in Vietnam which ranked by Alphabe and Nielsen. The evaluation has been based on 6
criteria: compensation and benefits, development opportunities, culture and values, leadership, job
quality and life quality, and reputation.
Mr. Nguyen Trung Dung and other leaders believe people spend a considerable part of their lives at
work, so it is not surprising that they expect to be rewarded and satisfied with the job that they do.
Motivation is concerned with why people do things as well as what drives them to behave in a
particular way. Understanding what motivates individuals is important in the workplace. Motivated
employees are happier at work. They get more satisfaction from their work, are absent less often, tend
to be more loyal and work with more enthusiasm. This in turn encourages them to contribute more to
the development of the organization.
Monetary reward is still a prime motivator to many people. Pay could simply be used to increase rates
of output. These are people who can be paid according to the amount of work that they do or units
they produce.
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Vietcombank’s offers competitive salaries. The traditional approach to leadership and management at
Vietcombank emphasized on breaking down jobs into components or specialist tasks through the
division of labour. These rewards can help to increase productivity and profitability. The danger with
this is that individuals are simply focused on output to get rewards so quality might suffer as a result of
employees rushing to do the job. This is not a process that allows development of people. It limits their
ability to take ownership of what they do.
Vietcombank’s flexible benefits programme allows employees to choose those benefits that suit them.
This includes childcare vouchers and discounted life assurance schemes. Their employees are
motivated by cash alternatives which include the opportunity to buy and sell their holiday days. These
savings and competitive salaries help employees pay go further and so motivates them to be loyal to
the company.
Vietcombank’s values the safety of all employees. The company is committed to providing a safe and
healthy work environment to prevent accidents. Employees are however accountable - that means
they have to take responsibility for observing the health and safety rules and practices. Vietcombank’s
also offers employees a range of working patterns. Some may want to work part-time; others may
want career breaks or undertake homeworking. This helps employees to choose the best option for a
healthy work-life balance.
Vietcombank’s operates weekly group ‘huddles’. These provide informal opportunities for employees
to receive and request information on any part of the business, including sales data and bank
products. This helps strengthen teams and enhances employees’ sense of belonging. Having an open
approach to communication keeps everybody focused on the company’s aims and objectives.
Vietcombank’s breakfast clubs and support for swimming promote a healthy lifestyle and keep the
business active in the community.
However, Mr. Dung thinks Vietcombank’s staff should be encouraged to be creative and use their
imagination to contribute towards change. Consequently, traditional view of monetary reward for
output is not appropriate for the motivation required for this type of workplace.
In his opinions, encouraging everyone to live by the Core Values throughout the whole business
creates a culture of people that have ownership over their own projects and strive for continuous
improvement and industry-leading results. He wants to make Vietcombank become a positive place to
work within which these values influence the behaviour of individuals. Employees are encouraged to
speak positively about each other when apart, focusing on their strengths. This involves listening to
others and accepting their right to their own views regarding the workplace.
As the CEO, Mr. Dung foresees the challenges of digital transformation in the bank industry and
obstacles in developing the human resource and retaining talented people. The labor market is more
and more instable, competitive, challenging, and turbulent.
You are the consultant and have been given specific responsibility for a comprehensive research and
analysis for the areas. You are requested to prepare a report covers a motivational strategy to
enhance organisational performance and an improvement of performance management that will
ensure its continuous improvement. The report should address the following tasks:
Assignment activity and guidance
Task 1: Develop a motivational strategy to optimise organisational performance
 Produce a motivational strategy for an organisation that supports optimal achievement of
organisational objectives
 Produce a detailed motivational strategy for an organisation that addresses intrinsic and extrinsic
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motivation
 Produce a comprehensive motivational strategy that effectively addresses all variables of
motivation to enhance organisational performance.
Task 2: Apply leadership and management approaches to managing performance to ensure
continuous improvement.
 Apply to a range of business situations, appropriate leadership and management approaches for
managing performance and continuous improvement
 Assess how leadership and management approaches for managing performance supports
continuous improvement.
 Make recommendations to improve performance management that will ensure continuous
improvement
Recommended Resources
Please note that the resources listed are examples for you to use as a starting point in your research –
the list is not definitive.
Weblinks
MindTools. Motivation, Energizing Your People to Achieve Good Things. Available at:
https://www.mindtools.com/pages/article/motivating-your-team.htm
Motivation theories: Available at: https://businessjargons.com/motivation.html
Businessballs. Improving Workplace performance: Business Case. Available at:
https://www.businessballs.com/improving-workplace-performance/motivational-case-
study-exercise/
HN Global
HN Global (2021) Reading Lists. Available at:
https://hnglobal.highernationals.com/learning-zone/reading-lists
HN Global (2021) Student Resource Library. Available at:
https://hnglobal.highernationals.com/subjects/resource-libraries
HN Global (2021) Textbooks. Available at: https://hnglobal.highernationals.com/textbooks
Journal articles
Patrick MacDonald, Stephanie Kelly, Scott Christen, A Path Model of Workplace Solidarity,
Satisfaction, Burnout, and Motivation. First Published April 13, 2014 Research Article https://
doi.org/10.1177/2329488414525467
Lara Manganelli, Anaïs Thibault-Landry, Jacques Forest, Self-Determination Theory Can Help
You Generate Performance and Well-Being in the Workplace: A Review of the Literature First
Published March 13, 2018 Research Article https://doi.org/10.1177/1523422318757210
Textbooks
Robbins S. P., Judge T. A. (2013) Organizational Behavior, 15th ed Prentice Hall, ISBN-13: 978-0-13-
283487-2
Adair, J. (2019). Develop Your Leadership Skills: Fast, Effective Ways to Become a Leader People
Want to Follow. Kogan Page
Orti, P. and Middlemiss, M. (2019). Thinking Remote. Inspiration for Leaders of Distributed
Teams. Virtual Not Distant
Kelly, P. and Cole, G. (2020) Management: Theory and Practice. 9th Ed. Cengage.
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Mullins, L. J. (2019) Organisational Behaviour in the Workplace. 12th Ed. Harlow: Pearson.
Learning Outcomes and Assessment Criteria
Pass Merit Distinction
LO3: Develop a motivational strategy to optimise
organisational performance.
D2 Produce a comprehensive
motivational strategy that effectively
addresses all variables of motivation
to enhance organisational
performance.
P5 Produce a motivational
strategy for an organisation that
supports optimal achievement of
organisational objectives.
M4 Produce a detailed
motivational strategy for an
organisation that addresses
intrinsic and extrinsic
motivation.
LO4: Apply leadership and management approaches to
managing performance to ensure continuous improvement.
D3 Make recommendations to
improve performance management
that will ensure continuous
improvement.
P6 Apply to a range of business
situations, appropriate leadership
and management approaches for
managing performance and
continuous improvement.
M2 Assess how leadership and
management approaches for
managing
performance supports
continuous improvement.
* Please note that grades are provisional. They are only confirmed once internal and external verifiers
have taken place, and the final decisions have been agreed by the assessment board.
* This grade only reflects the result of this assignment, not for the whole Unit.
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