National Economics University: Business Environment Assignment Report

This report provides a comprehensive analysis of three banks: Techcombank, Agribank, and Shinhan Bank. It begins with an introduction to each bank, including their history and current standing in the Vietnamese market. The report then delves into the mission, vision, goals, objectives, and core values of each bank, providing insights into their strategic approaches. Further, it examines the legal forms, sizes, scopes, and stakeholders of these organizations. The report also explores the different business functions of Techcombank in detail. The analysis covers various aspects of the business environment, offering a detailed understanding of the organizational structures and operational strategies of these key players in the Vietnamese banking sector. The report concludes with references used in the analysis.

NATIONAL ECONOMICS UNIVERSITY
INTERNATIONAL SCHOOL OF MANAGEMENT AND ECONOMICS
HIGHER NATIONALS
BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS (RQF)
Unit Code, Number and Title L/508/0485 RQF level 5 - Unit 1: Business and the Business
Environment
Semester and Academic Year Semester 2 / Academic year 2019 - 2020
Unit Assessor(s) Daniel Vanhoutte/ Dao Minh Hoang/ Nguyen Thuy Chinh
Assignment Number and
Title
BBE A1.1: Organizational types, functions, and structure
(Assessment 1 of 2, Individual assignment)
Issue Date Thursday, 02 April, 2020
Submission Date 10.00 am on Wednesday, 29 April, 2020
IV Name Trinh Thi Thu Giang
IV Date 02 April 2020
Student name Le Tuan Minh
NEU Student ID 10190569 Pearson ID
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Student name / Signature LE TUAN MINH Date: 29/4/2020
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Contents
I. INTRODUCTION............................................................................................................................................2
About Techcombank:.......................................................................................................................................2
About Agribank:..............................................................................................................................................2
About Shinhan Bank........................................................................................................................................2
II. Mission, Vision, Goal, Objective, Core value of the three banks...................................................................3
Techcombank:..................................................................................................................................................3
Agribank:.........................................................................................................................................................5
Shinhan Bank:..................................................................................................................................................6
III. Types and Purposes of Legal forms, Sizes & Scope, and Stakeholders of the 3 company...........................7
Legal form........................................................................................................................................................7
Size And Scope:...............................................................................................................................................9
Stakeholders:..................................................................................................................................................10
IV. Different business function of Techcombank..............................................................................................12
Appendix............................................................................................................................................................16
Reference List:...................................................................................................................................................16
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I. INTRODUCTION
About Techcombank:
Viet Nam Technological and Commercial Joint-stock bank, or known as Techcombank. Started in 1993 as
one of the very first joint-stock banks with only 20 billion VND charted capital, and increased to 51 billion in
1995 VND, Techcombank is now one of the biggest banks in Viet Nam in terms of charted stock with one
headquarters in northside, two main offices, and 314 transitional departments nationwide. The success of
Techcombank is rooted in the strategies of focusing on customers and their needs(Techcombank, accessed
18/4/2020). In 2018, Techcombank ranked among the nine largest joint-stock banks in Vietnam in terms of
non-interest income ratios, cost-to-profit ratios, asset returns, and overall operating income per employee.
About Agribank:
Viet Nam Bank for Agriculture and Rural Development, or known as Agribank, was first established by the
Vietnamese Government in 1988 under the Decree number 53-HDBT. Over the last 31 years, Agribank has
made a significant contribution to macroeconomic stability, curbing inflation, and supporting agricultural and
rural growth, as well as building new rural areas and improving social security, making it Viet Nam's leading
state-owned commercial bank, the only commercial holding 100% of charter capital held by the state.
Agribank has almost 2,300 branches and transaction centers located in all parts of Vietnam, the only
commercial bank located in 9/13 island districts with approximately 40,000 employees. Agribank has always
been in the top 10 largest cooperation in the country and won many international awards. In 2018, the
Government of Viet Nam has awarded Agribank with the First-Class Labor Medal - the most prestigious
award of the Party and State of Viet Nam for its contribution to the nation's agriculture and economic
development(Agribank Awards, accessed 18/4/2020)
About Shinhan Bank
Shinhan Bank is a company owned by the Shinhan Financial Group, Korea's first privately-funded financial
holding company in Korea. It has had the highest market capitalization for many years and is considered a
financial company with steady growth potential. Not only being known as the flagship company in Korea, but
Shinhan Bank has also expanded globally. They currently have over 1000 branches in 20 different countries
around the world, with 30 branches in Viet Nam. Shinhan has been targeting Vietnam very early in its global
expansion plan, as it is a potential market with great internal strengths, stable economic growth, and an open
investment policy. Shinhan bank opened its first office in Ho Chi Minh City in 1993. Around the time,
Shinhan Bank was considered pioneer cooperation in the development of diplomatic relations between
Vietnam and Korea. In 2008, Shinhan Bank was licensed and approved to become one of Vietnam's five
100% foreign-owned banks, and in 2011, they merged with Shinhan Vina Bank and officially became the
biggest foreign-owned bank in Viet Nam at the time. According to the annual report of 2016, the total assets
of the Shinhan Bank in 2016 is $2.48 billion. The solid and sustainable development of Shinhan Bank in
Vietnam over the last 25 years has been attributed to its financial reputation, outstanding innovations, and,
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most importantly, its contribution to sustainable development in Vietnam. In 2018, Shinhan bank is the only
bank in SEA to receive the honorable "Global Quality Service 2018" award by VISA organization.
II. Mission, Vision, Goal, Objective, Core value of the three banks
Techcombank:
Vision:
The vision of Techcombank is that they "aspire to be the best bank and a leading business in Vietnam", and
Techcombank is achieving that. In 2018, Techcombank is rated as the best bank by
EuroMoney(Techcombank Awards, accessed 18/8/2020).
Mission:
Techcombank has 3 missions. The first mission is to become the chosen and most trusted financial advisor of
our customers, supporting them with a full spectrum of financial goods and services via a personalized /
customer-centric partnership. Based on the information on their website(Techcombank News, accessed
18/8/2020), with highest priorities is to protect the right and health of consumers, while ensuring the
continuity of business, Techcombank's Online Banking services are always up 24/7 in order to optimize the
financial performance and to help customers transact safely and conveniently. The second mission is to
support their workers by providing them with a great working atmosphere, where they have opportunities to
grow, to compete, contribute, and develop a sustained and successful career. In September 2019,
Techcombank has been given the Gold Cup of "The Stevie Awards", in category "Employer of the Year -
Banking"- Honoring organizations with the leading working environment, the reward is a recognition of
Techcombank's efforts and commitment in creating a friendly and ideal working environment, provides the
best condition for employees to "outperform every day" (VietNamNet, 2019). The last mission is offering
investors/shareholders superior long-term value by initiating a rapidly growing plan while enforcing accurate
corporate governance and risk management best practices. Techcombank has announced the issuance of
Techcombank Bonds Phase 1- 2019 to increase the size of working capital and improve safety ratios in
Techcombank's business activities.
Objective and Goal:
With the revenue structure, in 2019, Techcombank's objective is to keep on increasing the net fee revenue by
boosting its advanced transaction banking system for corporations and enhancing the customer experience
with card services, life, and non-life insurance products, E-services and account management for consumers.
They are also implementing new bond distribution, better non-life-insurance products, etc… to expand the
bank's solution packages with the goal to fulfill customer's highly diverse and sophisticated needs
With customers, the bank's objective is to keep continuing its ecosystem-based approach to fulfill the short-
term demands (like vehicles and houses) of individual and corporate value chain customers in Vietnam
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Core Values:
The culture of Techocombank is focused on five core values that keep the sustainable development of the
organization's, create a strength for the company, as well as bring greater success for customers:
The first core value is customer-centricity. Techcombank puts itself in the place of its customers in every way
of thinking and behaving to provide the best benefits and experience for its clients. They also protect the
rights of the clients by complying with the laws and regulations of the Bank. In 2019, Techcombank has
launched a new online bank card opening feature using an app called Fast Mobile, with the new services,
customers no longer need to come to the offices to open their bank cards, they don’t need financial proof and
supplement records to open their card and customers can receive their newly opened card at any address they
requested.
The second core value is innovation and creativeness. Techcombank workers are always able to lead the
transition in order to achieve good results with new ways of working and better results with breakthroughs. In
the service sector, Techcombank is the leading bank in the training and advancement of employees. New
workers are expected to undergo compulsory training and regular capacity building training before going to
work. Workers in all roles are encouraged to build a specific career path. Ngo Quang Tru, a young man
working at the Techcombank Head Office Transaction Center, said: "After being recruited to Techcombank, I
was sent to the bank to attend structured training courses for workers trained at the training center. Create and
organize personnel, who are directed directly into everyday work. Thanks to that, I've shortened the process
of accumulating experience, perfecting skills to get on a job confidently".
The third core value is collaboration for common objectives. This core value is what makes Techcombank a
strong and sustainable corporation, as it is the unity in thinking, in action. In an enterprise, each individual is
a separate entity but with the bond - or in other words, corporate culture, those entities stick together. Like in
a Vietnamese folktale, 1 chopstick is easy to break, but if a lot of chopsticks unite as one big bundle of
chopsticks, no force or power can easily break it (Nam Phong, 2015). Mr. Nam Phong is the director of the
business center at Techcombank, following the core value of the company, he re-evaluates the whole
operation and people of the department, then he built common goals, behavioral standards based on the 5 core
values of the bank, thereby building an organization's personnel apparatus that shares the same DNA. And so,
within six months of doing this work, the selling potential of the business center increased by 300 percent,
unpaid loans decreased by 100 percent, the rate of grievances through the call center network was less than
0.5 percent, and the number of workers absent. A drop from 25% to 0.05%
The fourth core value of Techcombank is self-development. Workers of Techcombank (Techcomers) always
try to learn to enhance their skills keep setting higher targets for themselves, together with the Bank's
advancement and success. Techcombank also provides incentives and resources for workers to learn and
succeed. Employees with self-developing skills are of high quality. As said by Mrs.Pham Vu Minh Dan -
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Techcombank's Director of Human Resources Administration, high-quality staff are a significant element in
the Bank's sustainable growth strategy. From the very first days of its establishment, the Bank has defined a
sustainable development strategy, including advanced technology and high-quality human capital. In
particular, 2015 is the year selected by administrators as the year of human resource development, which is
why the Bank encourages robust human resource development activities.
The fifth core value is to work efficiently. Techcombank always operates with a development plan and
with the discipline to ensure that the resources are optimally distributed. Every department is clearly divided
with strict inspection and every employee works in a positive and disciplined manner. Techcombank is now
leading the banking industry in results, beating the target by 2 years. Having an excellent HR background
with OHI and EES at a record level (Techcombank core values, accessed 18/8/2020)
Agribank:
Vision:
The bank developed towards modern banking with the motto: "safe - effective - sustainable", Affirming the
key role in credit investment in agricultural development, farmers and rural areas, as well as strong
productivity and full international integration of the economy. In 2018, Agribank was ranked at 465th in the
world and ranked 2nd in the country based on data of core capital, additional figures used to evaluate include
assets, capital to assets ratio, profit growth, return on capital, return on the bank's assets
Misson:
To become Vietnam's leading commercial government-owned bank, which plays a dominant and key role for
the national economy, especially in investment in agriculture, rural areas, and farmers, making a massive
contribution to the social and economic-economic development of Vietnam. Agribank was honored to receive
the National Brand 2018, recognized by the Ministry of Industry and Trade, for the efforts of the Agribank
system in renewing, improving business operations, developing translated products, utility banking in the
direction of increasingly professional and sustainable development. (Agribank, accessed 18/8/2020)
Objective and Goal:
With marketing, Agribank's objective is to establish a marketing plan for domestic and international media, as
well as innovates the working style, transaction culture and improves customer policies with the goal to boost
the brand recognition (Agribank annual report, accessed 18/8/2020)
Core Value:
Agribank's first core value is honesty. Agribank workers agree between thinking and acting, always being
honest, dare to speak, to do, to take responsibility. All the thoughts and acts of Agribank officials and
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employees derive from integrity, honesty, and seriousness of thinking and behavior.
The second core value of Agribank is discipline. The employees of Agribank strictly follow the directives and
strategies of the Communist Party, the strategies, laws, rules, and regulations of the State, and contribute to
the development of the Socialist rule of law within Agribank itself. They also comply with internal rules,
regulations, business procedures, management mechanisms from Head Office to branches, ensuring the
principle of centralization, unity, and professionalism in executive management.
The third core value is creativity. Staffs at Agribank are very proactive and always learning very constantly to
improve their knowledge as well as raise professional awareness and creatively apply new knowledge into
work to fulfill assigned duties and tasks. They are also diligent in studying and promoting innovation,
applying advanced science and technology, changing administrative processes to offer full benefits to
consumers, stakeholders, societies, and governments and the bank itself.
The fourth core value is quality. Agribank's banking products and services are always perfected and improved
by professional staff, creating quality and competitive products and services. The implementation process at
Agribank ensures the requirements of the process and prescribed standards. Quality in products is a measure
of the level and dedication of each individual in Agribank
The fifth core value of Agribank is efficiency. The staff always takes work efficiency as the most important
goal, thereby constantly improving productivity and quality of assigned work. (Agribank culture, accessed
18/8/2020)
Shinhan Bank:
Vision:
Shinhan Bank's vision is to become the number one bank that makes a new future and is loved by all, that
shares a vision with its customers. For the market, they will set new banking standards by pushing the current
banking industry's boundaries through change and innovation. And lastly, is to build an environment in which
workers can work in happiness and pride, knowing that they are members of Korea's leading bank. (Shinhan
Bank vision, accessed 18/8/2020)
Misson:
Shinhan bank's mission is to create "A better world through the Power of Finance" by provide trendy
financial goods to customers, offer better value to clients to attract them, increase the corporation's value.
(Shinhan Bank mission, accessed 18/8/2020)
Objective and goal:
With the finance, Shinhan bank's objective is to provide professional services that create value for clients of
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the bank in particular and of the group in general to reach the goal of reaching the top 5 banks with the best
performance in 2020 in the field of investment banking. (Shinhan Bank, accessed 18/8/2020)
Core value:
The first core value of Shinhan Bank is "Core values customer focus". The Bank act on the principle of
listening and understanding what customers need and they provide goods and services that best serve the
financial needs of each customer
The second core value is mutual respect. Shinhan Bank supports free interaction that gives Shinhan staff the
chance to understand each other to build a strong team with excellent teamwork and fairness.
The third core value is leading the change. This involves creative critical thinking and innovation. Shinhan
bank always tries to find better ways to accomplish the set goals, that’s why Shinhan Bank want their staff to
be creative. They also apply innovation to their working process, so that the products and services could
fulfill the highly diversified needs of consumers.
The fourth core value is reaching excellence. In order to become an excellent bank, Shinhan Bank always sets
challenging goals for its employees to train and promote their self-development ability and ability to
overcome the crisis. , breakthrough to achieve success.
The fifth core value of Shinhan Bank is the spirit of self-control. Every Shinhan Bank employee always
brings a passion for work and life and spread that enthusiasm to others. Along with the positive joy, it makes
every member of Shinhan Bank sticking and uniting, can towards the common goal.
III. Types and Purposes of Legal forms, Sizes & Scope, and Stakeholders
of the 3 company.
Legal form
As stated in the Vietnam National Law System website, there are five types of businesses company in
Vietnam. They are Limited Liability Company (LLC), Joint-Stock Company (JSC), Partnership Company
(PC), and Private Enterprise (PE) and Sole Proprietorship (Vietnamese Laws on Enterprises, 1999)
Limited Liability Company: has 2 forms, it is "Single Member LLC" and "Multiple Member LLC". A
"Single Member LLC" is either owned by an individual shareholder or by one corporation, who is responsible
for the debts of the company to extend the charter capital of the company. "Multiple Member LLC" has more
than one but less than fifty members, they can be companies, individuals, or both.
Joint-Stock Company: is owned by multiple organizations (Shareholders). They are responsible for the debts
and liabilities of the company to extent their capital investment. JSC is a public company so its stock can be
bought and sold on the stock exchange market.
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Partnership Company: PC has 2 or more members that are joint owners and do business under a common
name (General partners), there may be capital members in the company as well. The general partners must be
the persons responsible for all the company's liabilities and all its properties. Capital-contributing members
are responsible only for the liabilities of the company in the amount of capital contributed to the business.
Private Enterprise: is a company owned by an individual and is solely responsible for all its activities. ...
Every person is only entitled to set up a private enterprise. The owner of a private company may not be the
owner of a household business or a member of a partnership at the same time.
Sole Proprietorship: A form of company-owned and managed by a single individual and in which there is no
legal distinction between owner and business entity. The owner controls all elements directly and is legally
responsible for the financing of the company, which may include debts, loans, losses, etc…
Legal forms of the three banks and their Pros/Cons:
Techcombank is a Joint-Stock company and there are many reasons for its legal form selection. Firstly, The
ability to raise capital is very high by issuing shares to the public. This is a unique feature only a joint-stock
company has. A joint-stock company also does not limit the number of shareholders and can raise capital
internationally. Secondly, shareholders can easily, freely transfer, exchange, inherit shares through the selling
of shares on the stock market. Finally, Every business decision is gathered from the shareholders so it is very
clear in management and administration. However, joint-stock companies also have some drawbacks, such as
the complexity in administration and operation as the number of shareholders can be very large, many of
them may not even know each other and these could cause some serious conflicts. Another one is that
business and financial security is limited as the company must disclose and report to the
shareholders(Chinqulov, Q, 2018). Techcombank wants to become the best bank and leading enterprise in
Vietnam, so they chose this type of business to have many investors both national and international to invest
in to expand the market.
Both Agribank and Shinhan Bank are single-member Limited Liability company. Agribank is owned by The
Government of Viet Nam and Shinhan Bank is owned by Shinhan Finance Group. The advantage of a single-
member limited liability company is that the owner of the company would have full authority to decide on all
matters relating to the functioning of the company. Moreover, It would cause less risk for the owner as they
are only responsible for the activities within the number of funds contributed to the company. Also, The
Capital Transfer Regulations are strictly monitored, so it is easier to control investors (Schwidetzky, 2018).
But on the other hand, LLC also has some downside. It can not directly withdraw funds but must be by the
transfer of portion or all of the capital to another organization or entity.
Size And Scope:
Size:
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According to the handbook of business policy, the business size is determined based on the total revenue of
the company. Following the Decree no.38/2019 of the Vietnamese Government, businesses will be divided
into three main sizes: micro, small, medium. Large enterprises only account for 5% of the whole country it is
separated from the other three kinds. Microenterprises in the field of trade have a total yearly income of no
more than 10 billion VND or total capital of no more than 3 billion VND. Small businesses have a total
annual revenue of equal or less than 100 billion VND / Total capital no more than 50 billion VND. For
medium-sized businesses, the total revenue of a year must not be over 300 billion VND and the total capital is
no more than 100 billion VND.
Because the requirement of large enterprises is the total capital of more than VND 100 billion, all three
banks, Techcombank, Agribank, and Shinhan bank, are considered large enterprises. Based on the 2019
financial report, Techcombank's total capital is 62 trillion VND(Techcombank, accessed 19/4/2020). The
information has proved that Techcombank's size is large in Vietnam. This also equivalent to Agribank and
Shinhan Bank, as Agribank's total capital are almost 63 trillion VND (Techcombank, accessed 19/4/2020)
and Shinhan Bank is 13 trillion VND. Therefore, Agribank and Shinhan Bank also deserve to be a big-size
company.
Scope:
Techcombank's scope is to become the biggest bank and a leading corporation in Vietnam. Techcombank has
one headquarters in Ha Noi at 191 Ba Trieu, Hai Ba Trung District, two main offices, and 314 transaction
points across the country. With the total assets in 2019 of nearly 1.4 quadrillion VND, and revenue before tax
approximately 12 trillion VND, they are 2019's best payment bank in Vietnam.
Shinhan Bank's scope is pretty similar to Techcombank, but because they are an international enterprise, their
scope is not only to become the leading bank in Vietnam but also in the world. Shinhan Bank is
headquartered in 20 countries with more than 1,000 transaction points and 18,000 employees worldwide. In
Vietnam, Shinhan bank has expanded its network to all 3 regions with a total of 36 branches. Shinhan Bank
Vietnam has total assets of 103 trillion VND and revenue before tax around 2.8 trillion VND. Their
headquarter is in 74 Nguyen Thi Minh Khai, District 3. (Shinhan Bank, accessed 19/4/2020)
The scope of Agribank is to be an important element in the country's economy in agricultural development
investment. With the total assets of 2019 at approximately 1,4 quadrillion VND, Agribank is one of Asia's
500 largest banks at rank 142. Agribank currently has almost 2300 branches across the country and nearly
40000 employees. Their headquarter is in Lang Ha, Thanh Cong Ward, Ba Dinh District, Ha Noi. (Agribank,
accessed 19/4/2020)
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Stakeholders:
Figure 1. Stakeholder Mapping
Stakeholders are people who related to the company, they can be the people who directly help build the
business with strategy, the people who invest directly in the company, or who are interested in the products
and services of the enterprises. (Freeman, R, 1983) argued that stakeholders belong to "Groups without
organizational support will cease to exist" in an organization, proving that stakeholders play a very important
role in a business.
In this report, the 7 main stakeholders of the three banks including customers, employees, state banks,
steering committee, board of management, Vietnam Bank Association, and Media will be analyzed.
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Customers:
The customer is one of the bank's stakeholders but not the most important stakeholder. Although customers
have an important role in determining the profit and loss of the business, they are not too concerned about the
internal operations of the company. They are interested in the services and utilities of the bank, along with
promotions that benefit them. That's why the bank needs to continue to maintain customer service and
improve it.
Staff:
Employees in the business are factors that can have a strong impact on a company's profitability, both in a
good and a bad way. A good employee can attract many customers to the company, but a bad employee can
also drag the business down, in both revenue and reputation. However, employees only follow the duties they
are assigned to and do not always engage directly or take care of other matters within the company outside of
their jobs. Therefore, All three banks need to have a reasonable salary and salary along with training courses
for staff.
Vietnam Bank Association:
The Vietnam Banking Association is a voluntary organization. They gather banks and encourage banks to
help each other to promote socio-economic development, so they do not have too much influence on the
bank. The banks only need to continue complying with the association's rules.
State Bank:
The state bank is a government agency, having the highest authority among the banks. They perform the
function of state management of currency, banking, and foreign exchange operations. For Techcombank and
Shinhan Bank, the State Bank is only responsible for law and tax declaration, not participating in or directly
related to the Bank, so only need to comply with the laws and pay taxes. As for Agribank, it is owned by the
State Bank, so they directly participate in managing the ministry within the bank, so the influence of the state
bank on Agribank is very large.
Steering Committee:
The Steering Committee consists of CEO and Block Directors, who implement the strategic directions set by
the Board of Directors from time to time. They are experienced people, directly involved in management and
administration, supervising personnel, so their influence on the banks is very large.
Board of Management:
The Bank's Board of Directors is a part of the banking management body, has the highest position in the
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management apparatus, has full power on behalf of the bank to carry out the assignments, rights, and
obligations as authorized by the co-shareholders. The Board of Directors has a role in developing strategies
for the bank, aimed at helping bank development. They manage and supervise bank operations. Therefore, the
Board of Directors has the greatest influence on the banks.
The press and Media:
Press communication is important for banks because it not only reflects and analyzes the bank's products and
customer service, but it is also a means to connect customers with an enterprise. It is the media that introduces
the product, reviews, and gives information to customers to better understand, and promote the brand of the
business. Although the press contributes a significant part to the bank's profits, it does not directly participate
in the banking system, nor does it have powers.
IV. Different business function of Techcombank
The graph below illustrates the organizational structure of Techcombank which is functional. This type of
structure is suitable for a bank like Techcombank as it is a large corporation. The structure in the graph is
divided into three main parts using different colors like Red, orange, green, and blue and white. The box
covered in blue part is the committees under the Board of Directors in compliance with regulatory
requirements, and the green part is the committees under the BoD without regulatory requirements. Looking
at the chart, we can see that Techcombank is a huge enterprise with many departments and it has lots of
employees. With a structure like this, it will help Techcombank in managing the company by narrow the
control range. This structure uses a top-down command chain, which means that the bottom part will take
orders from the top of the structure.
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1. Functional Structure:
Functional Structure is a method used to manage employees. Workers will be grouped based on their
profession, into a department, and will be lead by a functional manager. The functional manager will
help individuals in a department to improve their skills and use their skills effectively, to achieve the
goals of the organizations. (Zaki, Mahmoud A, 2015)
Implementing this structure has many benefits. When dividing functional departments, employees
will only focus on their specialties and skills, and this will help them cultivate and have in-depth
specialized knowledge, helping employees to be more effective. The division of departments also
helps to minimize communication channels because employees have only one boss for a department,
so reporting will be easier and faster. However, the downside of this structure is that it will cause a
disconnection between the members of the company because each department will only care about
their work.
Objective Measure Target Initiative
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Financial Percentage of NIM
Increases Interest Nim percentage rises
to 4% in 2019
reducing deposit
rates by 0.1 - 0.2% /
year for terms of 1-3
months
Customers Increase the number
of loyal customer
Customer satisfaction surpass the
percentage of
satisfied customers in
2018 at 92%
- offering
Techcombank
priority service
- Zero Fee
program,
completely free
for online
transactions
starting from
individual
customers in
September 2017,
then expanded to
business
customers from
August 2018
Internal Process Increase deposit
and lending
activities
amount of loan surpass the
percentage of
customer lending
structure in 2019
offer loan
support packages
Organization Capacity Capacity building
of employees
Bank's culture promote building
corporate culture
to promote
cooperation and
coordination of
employees
-Employees are
entitled to one
day off on
birthday
- Employees are
selected flexible
working hours
suitable for
themselves
Figure 2. BSC
Following the figure, Techcombank's relationship in the balanced scorecard is explained that if the
staff's capacity is improved, lending and deposit activities will be more effective, and customer care
will be performed more professionally. Since then customers will be satisfied with the service and
there will be more loyal customers at the bank, and will have more borrowing activities, which
means the revenue and profit of the bank will go up.
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Finance
Loan
R&D

Conclusion:
To that end, after learning more about the banks, my knowledge and vision of the bank have greatly
expanded. This exercise points to the differences between banks, the opposition between their
missions, their visions, and their core values. Then find short-term and long-term tasks between
banks. Also, through research, I learned that there are many types of businesses in Vietnam, and we
have to learn very carefully about the scope and size of the business to avoid errors because It is
related to each other. I also understand more about the role of stakeholders and shareholders in the
business. The structure of the bank also reflects the way it operates, the ranks and relationships
within the business, and the need to use a balanced scorecard to make an overall assessment.
Appendix
Figure 1. Stakeholder Mapping............................................................................................................11
Figure 2. BSC.......................................................................................................................................16
Reference List:
Techcombank. 2020. About Us - Techcombank. [online] Available at:
<https://techcombankjobs.com/about-us-35a5140b/en> [Accessed 22 April 2020].
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