Periodical review policy and procedure for the smooth operation

UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business HOANG TUYET MAI PERIODICAL REVIEW POLICY AND PROCEDURE FOR THE SMOOTH OPERATION MASTER OF BUSINESS ADMINISTRATION Ho Chi Minh City – Year 2019 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business HOANG TUYET MAI PERIODICAL REVIEW POLICY AND PROCEDURE FOR THE SMOOTH OPERATION MASTER OF BUSINESS ADMINISTRATION SUPERVISOR: DR LE THI THANH XUAN Ho Chi Minh City – Year 2019 Hoang Tuyet Mai _ Thesis for Master of Business Administration Page Hoang Tuyet Mai _ Thesis for Master of Business Administration Page TABLE OF CONTENT EXECUTIVE SUMMARY ACKNOWLEDGEMENTS A B C D E F G INTRODUCTION BACKGROUND INFORMATION .7 SYMPTOM CONTEXT 11 FINANCIAL STATEMENT 11 ACCOUNTING DOCUMENTS 12 WORK CONFLICTS AND UNSATISFIED EMPLOYEES 14 PROBLEM IDENTIFICATION 16 Manpower cost 16 Material cost .18 Policy and procedure development 18 Problem definition and consequence 21 Initial effect map 24 CAUSE VALIDATION 25 Problem during initial policy and procedure development of the division 25 Lack of periodical review, update of policy .29 Updated cause and effect map 31 Final cause and effect map 33 SOLUTION 34 Improve analysis and research and enhance communication .34 Improve too general policy and procedure 39 Periodical review, update of the policy 46 CONCLUSION 50 SUPPORTING DOCUMENTS 51 Literature review 51 Study method 53 Interview guide .53 Transcripts 55 ATTACHMENT 67 REFERENCE .76 EXECUTIVE SUMMARY Policy and procedure is an important part of each company, it contributes to success of the company Policy and procedure help the company work smoothly, it is the manual for every employees and through all departments It is the guideline and the effective training for newcomers Developing and implementing policy is a process of continuous improvement, there is never a moment because the company continues developing Policy and procedure periodic review is as important as preparing period The company with out of date policy and procedure is as no policy and procedure The thesis focuses on researching the policy and procedure of the external division of AB Petroleum Company From interviewing managers and employees as well as studying reports, policy and procedure of the division and the company, the author has found out serveral problems during the period of policy development of the Division as well as the lack of periodic review of the policy and procedure Based on study literatures, researches as well as interview relating personnel, author has given solutions (i) the company should establish a preparing and reviewing team of policy and procedure to enhance communication as well as knowledge share during period of policy development and periodic review (ii) policy and procedure should be detailed to guide users from various departments (iii) set the procedure for periodic review of policy and procedure to always update changes to ensure adequacy and effectiveness ACKNOWLEDGEMENTS I would like to acknowledge all who supported me during my study without whom I would not be where I am today I would especially like to thank my supervisor – Dr Le Thi Thanh Xuan and professors of ISB for all their advices and guidance Without their help, this could not have been possible I also would like to show my gratitude to my colleagues at work and classmates at ISB for their continuous supports I also send my sincere thankfulness to my parents and friends for their support and encouragement A INTRODUCTION There are many challenges for organization when they want to expand their business The organization needs to identify the appropriate organization structure and operating mechanism as well as prepare their new policy and procedure for the best management control system If not, it will impact on the existing operation of the organization Good new vision and mission allows the organization growth on the right way Good organization structure equips the organization with the best skilled personnel as well as Good procedure and policy helps organization always compliant with law and consistent with existing policies and procedures of the company Moreover, policies and procedures are an essential component of any organization Policies address important issues, such as what constitutes acceptable behavior by employees Procedures, on the other hand, clearly define a sequence of steps to be followed in a consistent manner, such as how the organization will respond to any policy violations All these readiness help the companies succeed to gain their goals and objectives BÁO CÁO KẾT QUẢ HOẠT ĐỘNG CUNG CẤP DỊCH VỤ BÊN NGOÀI QUÝ NĂM 2018 Tỷ giá quy đổi CHỈ TIÊU Ngân sách USD Luỹ kế từ đầu năm đến cuối quý trước VND USD Quý báo cáo VND 22955 Luỹ kế từ đầu năm USD VND USD A- NGUỒN THU Doanh thu cung cấp dịch vụ 441,960.00 955,375 41.93 878,892,656 38,287.33 879,848,031 38,329.26 441,960.00 - - 878,566,709 38,273.44 878,566,709 38,273.44 955,375 41.93 325,947 13.89 1,281,322 55.82 Doanh thu hoạt động tài B- CHI PHÍ THỰC HIỆN DỊCH VỤ 299,005.00 - - (230,178,864.00) (10,027.40) 1- Chi phi thuê 50,000.00 - - - - a- Thuê chuyên gia 12,000.00 - - - - b- Tư vấn 38,000.00 - - - - 2- Chi phi nhân công 34,726.00 - - - - - a- Nhân công trực tiếp 11,308.00 - - - - - - b- Nhân công kiêm nhiệm 23,418.00 - - - - - - 3- Chi phí vật tư, cơng cụ SX a- Máy tính để bàn, phụ kiện (UPS,software…) b- Máy tính xách tay trang thiết bị khác 15,950.00 - - (26,000,000.00) (1,132.65) 4,950.00 - - - - 11,000.00 - - (26,000,000) (1,132.65) 4- Chi phí lại, cơng tác phí 37,035.00 - - - - a- Thuê xe, lại 21,285.00 - - - - - - b- Cơng tác phí 5- Chi phí điều hành 15,750.00 - - - - - - (230,178,864.00) (10,027.40) - (26,000,000.00) (1,132.65) - (26,000,000) (1,132.65) - - 111,460.00 - - (204,178,864.00) (8,894.75) a- Chi phí hành thơng tin liên lạc 24,000.00 - - (27,800,000) (1,211.07) b- Hội thảo chuyên đề 87,460.00 - - (176,323,864) (7,681.28) - - (55,000) (2.40) - - - - (8,565,429) (373.14) 648,713,792.00 28,259.93 c- Chi phí ngân hàng 6- Thuế dự phịng phí 49,834.00 7- Chi phí tài C- HIỆU QUẢ DỊCH VỤ:C=A+B 142,955.00 955,375.00 41.93 (204,178,864) (27,800,000) (8,894.75) (1,211.07) (176,323,864) (7,681.28) (55,000) (2.40) - - (8,565,429.00) (373.14) 649,669,167.00 28,301.86 Attachment 2: Form of timesheet Attachment 3: Form of working hour (base for labor cost allocation) No Period 2018/09 2018/09 2018/09 2018/09 Employee Code V0005 V0008 V0010 V0015 Prepared by Onshore/ Offshore Name Dep AD AE - Appro ved by BD - BE - #P - GENERAL DEV 5.2 & Other Project 5.3 - TRANING Attachment 4: Optimization card Hoang Tuyet Mai _ Thesis for Master of Business Administration Page 137 Hoang Tuyet Mai _ Thesis for Master of Business Administration Page 138 REFERENCE 12 Gunn, A (1984) Matching of costs and revenues as a goal of tax accounting.Virginia Tax Review, 4(1), Retrieved from https://search.proquest.com/docview/205870104?accountid=63189 (2) Randolph, Susan A, MSN, RN,C.O.H.N.-S., F.A.A.O.H.N (2006) Developing policies and procedures AAOHN Journal, 54(11), 501-504 Retrieved from https://search.proquest.com/docview/219334086?accountid=63189 (3) http://www.diycommitteeguide.org/resource/how-to-develop-policies-andprocedures (4) Moule, B., & Giavara, L (1995) Policies, procedures and standards an approach for implementation Information Management & Computer Security, 3(3), 7-16 Retrieved from https://search.proquest.com/docview/212354621?accountid=63189 (5) Setting a document's use by date (2003, Aug 11) Vietnam Investment Review, Retrieved from https://search.proquest.com/docview/201509271?accountid=63189 (6) Lord, C (2018) Quashing corruption claire lord Accountancy Ireland, 50(4), 15 Retrieved from https://search.proquest.com/docview/2123045035?accountid=63189 (7) Shockley-Zalabak, P (2013) TRUST from the top down Communication World (Online), 30(3), 13-17,5 Retrieved from https://search.proquest.com/docview/1449610525?accountid=63189 (8) TETZ, F F (1961) The policy and procedure manual an effective guide to action National Association of Accountants.NAA Bulletin (Pre-1986), 43(3), 71 Retrieved from https://search.proquest.com/docview/198787891?accountid=63189 (9) http://www.brighthubpm.com/methods-strategies/79297-comparing-various-formsof-communication/ (10) Papa, S (2005) Preparing for your annual review () New York: SourceMedia Retrieved from ProQuest Central Retrieved from https://search.proquest.com/docview/215120866?accountid=63189 (11) http://www.atca.com.au/modules/modules/reviewing-the-tc-2/reviewing-policiesand-procedures/ (12) Tracey, S B (2002) Policies and procedures: Beyond simply documenting what you AFP Exchange, 22(5), 24-29 Retrieved from https://search.proquest.com/docview/225976876?accountid=63189 (1) (13) https://policy.usq.edu.au/documents/13454PL (14) McCullough, R V (1979) Training employees: A difficult, but necessary, task.Rough Notes, 122(7), 76 Retrieved from https://search.proquest.com/docview/200356746?accountid=63189 (15) Kroth, M., & Christensen, M (2009) Chapter 2: The right person for every job and the right job for every person Alexandria: Association for Talent Development Retrieved from https://search.proquest.com/docview/901796668?accountid=63189 (16) Gültekin, S (2014) Understanding policy process: Is there A single best way?/Politika sürecini anlamak: Tek bir en iyi model var mi? 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According Rathe , the other issue in preparing policy and procedure is that the policy leaders, responsible for policy- writing procedure are limited in the area of understanding of the issues... – member of the Division) composed a draft of the policy and procedure Step 2: He sent the policy and procedure to department to review and modify their relating parts (commercial and contract