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NATIONAL ECONOMICS UNIVESITY PAGE I Dao Thuy Linh – CQ493858 – Business English 49A NATIONAL ECONOMICS UNIVESITY ENGLISH FOR BUSINESS DEPARTMENT FACULTY OF FOREIGN LANGUAGES ((( ¬ DAO THUY LINH RECOMM[.]
Dao Thuy Linh – CQ493858 – Business English 49A NATIONAL ECONOMICS UNIVESITY ENGLISH FOR BUSINESS DEPARTMENT FACULTY OF FOREIGN LANGUAGES ¬ DAO THUY LINH RECOMMENDATIONS TO IMPROVE MANAGEMENT OF EMPLOYEES’ PERFORMANCE AND CUSTOMER RELATIONSHIP IN LEASING BUSINESS OF INTRACOM Hanoi5/2011 I Dao Thuy Linh – CQ493858 – Business English 49A NATIONAL ECONOMICS UNIVESITY ENGLISH FOR BUSINESS DEPARTMENT FACULTY OF FOREIGN LANGUAGES ¬ RECOMMENDATIONS TO IMPROVE MANAGEMENT OF EMPLOYEES’ PERFORMANCE AND CUSTOMER RELATIONSHIP IN LEASING BUSINESS OF INTRACOM Field code: 701 Supervisor: MS NGUYEN PHUONG HOAI, M.A Hanoi5/2011 I Dao Thuy Linh – CQ493858 – Business English 49A i ACKNOWLEDGEMENTS This study is completed not as the result of my personal effort but the outcome of enthusiastic support and contribution from many people involved in my internship process Therefore, I would like to thank Ms Trần Thị Thu Giang, Dean of Faculty of Foreign Languages for giving me the opportunity to conduct this study I am also delighted to give my sincere recognition and appreciation to Ms Nguyễn Phương Hoài for her constant help with academic knowledge and her support during the time I complete my report I would also like to express my gratitude to INTRACOM, transportations and construction Company, particularly Leasing Department for allowing me to internship in the company I especially owe my thanks to people who directly instructed me who are Ms Nguyễn Thị Thoa, Manager of Leasing Department and other officials of the department Once again, I deeply appreciate all the great support that I received during my internship Dao Thuy Linh – CQ493858 – Business English 49A ii EXECUTIVE SUMMARY This report provides an analysis on the failure of Leasing Department-Intracom in term of employees’ performance and customer relationship management Data collected through methods of observation, horizontal and vertical analysis of revenue, growth and proportion shows that revenue and activities of Leasing Department has been running smoothly over the time However, the number of employees leaving for another place and company outnumbers against other companies, moreover the relationship management in Leasing Department of Intracom is managed manually lacking the support of modern machines This situation is the result of inefficient employees’ performance management and inefficient customer relationship management Its management failures are shown the most clearly in two sources: employee turnover and communication facilities Therefore, a management reform is the key solution to help Leasing Department overcome its drawbacks and attain greater competitive strength among other lease buildings in Hanoi Recommendations discussed in this report include: Improve employees’ performance management Improve customer relationship management Dao Thuy Linh – CQ493858 – Business English 49A iii TABLE OF CONTENTS ACKNOWLEDGEMENTS i EXECUTIVE SUMMARY ii TABLE OF CONTENTS iii INTRODUCTION CHAPTER 1: INRODUCTION OF LEASING BUSINESS OF INTRACOM .3 1.1 Introduction of Intracom 1.1.1 History of establishment and outstanding achievements 1.1.2 Business activities 1.2 Leasing activity in Intracom: Role and Difficulties 1.2.1 Role 1.2.2 Difficulties .6 As Philip Kotler says the difficulties of a business contain external and internal burdens The followings are external difficulties which come from the outside environment Intracom has face to biggest challenges: CHAPTER THEORETICAL FRAMEWORK 2.1 Framework .9 2.1.1 Management 2.1.2 Lease management .10 2.1.3 Lease management concerns .11 2.2 Important role of employee and customer relationship managements in leasing field 13 2.3 Improving customer and employee relationship managements 16 2.3.1 Employee management 16 2.3.2 Customer relationship management 20 CHAPTER 25 ANALYSIS AND FINDINGS 25 3.1 Employee performance management 25 3.1.1 Employee performance 25 3.1.2 Employee satisfactions .26 3.2 Customer relationship management 28 3.2.1 Intracom’s knowledge about its customers 28 3.2.2 Intracom leasing devices 32 Intracom has equipped the buildings with plenty of devices which can be divided into two groups: 32 CHAPTER 34 RECOMMENDATIONS 34 4.1 Employee management suggestions 34 4.1.1 Improving employees’ performance through opening training courses, drawing up employees in rank and waging properly 34 4.1.2 Improving employee satisfaction level 35 Dao Thuy Linh – CQ493858 – Business English 49A iv 4.2 Customer relationship management suggestions 36 4.2.1 To understand customers better .36 4.2.2 To facilitate customer data storage 37 CONCLUSION .38 APPENDIX 40 REFERENCES .41 Dao Thuy Linh – CQ493858 – Business English 49A INTRODUCTION Background Since 2009 of starting operation, Intracom has run business in leasing office smoothly with high percentage of filling up in room space However, the competitiveness becomes harsher and market is enlarging continuously, which presses Intracom has to consider remaining and improving operation proficiency to survive To achieve those objectives, Intracom has to overcome its failures in employee and customer relationship management Rationale The growth of Vietnam economy and free-trade create the convenient condition for firms to develop In plenty types of economic entities, small and medium firms are developing more outstandingly ever Each year sees the appearance of hundreds or thousands firms Their appearance also pushes a high demand on offices Based on that demand, offices for lease are more and more built to respond to that demand Leasing offices is more and more developed The market of lease is filling up rapidly, which put requirements to companies in leasing business to try more in fierce competition round Intracom is a long-time player in this business Since its establishment in 1998, Intracom has provided leasing services and construction in numerous projects In some extent, it can be seen as well-known in the C-classed office for lease However, as a specialized department with its own management Leas Department has failed to prove its efficiency in keeping employees loyal to company and keeping in touch with customers This results from its inefficient management Therefore, in this study, I analyzed some drawbacks of Lease Department in terms of employees’ performance and customer relationship managements from which I could draw some recommendations to solve the situation Research questions My report gives answers to the following questions: - What are issues of employees’ performance management? - What are Lease Department’s failures in customer relationship management? - How can Lease Department and Intracom improve its management? Dao Thuy Linh – CQ493858 – Business English 49A Scope of research The study focus on analyzing failures of Intracom in managements of employee and customer relationship in order to withdraw the lessons and to give some recommendation to innovate its leasing performance Methodology In this report I based on three main research methods to present my ideas and arguments, which are observational method, quantitative method and descriptive method Sources and method of data collection Analysis in my report primarily based on secondary data such as statistics of employee turnover, records of human resources and current facilities The data was collected through observation, Intracom’s performance reports and minutes of meetings Dao Thuy Linh – CQ493858 – Business English 49A CHAPTER 1: INRODUCTION OF LEASING BUSINESS OF INTRACOM 1.1 Introduction of Intracom 1.1.1 History of establishment and outstanding achievements Precursor of Intracom is a State-owned Company and it was transferred into Joint Stock Company model in 2006 That milestone marked the expanding of Intracom from a single business into a multiple business In other word, Intracom has diversified its business activity Intracom with 300 employees include engineers, experts, workers, etc They work and build a plenty of projects of offices, apartments, social houses and new urban zones The chef filed of Intracom business is building containing hydro powers, high-rise and low-rise buildings etc However, the company is spreading its business into leasing, financial investment, building materials, etc Intracom created and built its brand as a leading builder in construction with identical logo and slogan of “shining with country” and “integration for two-side development” It promises to bring winning and profit to its partners Intracom has been awarded a number of achievements and merits Some are merit by building ministry, gold cup for successful integration 2000 1.1.2 Business activities Intracom is building company widening its activities to other fields of investment, leasing and material production Nevertheless, its main power is in building and sub-fields are investment, leasing and material production Construction The main strength of Intracom is building and construction, which makes it Intracom values this as a start point and long development schedule Currently, Intracom is building major projects: Intracom Intracom 2, Intracom 3, Intracom Dao Thuy Linh – CQ493858 – Business English 49A 8, hydro power projects, Oriental medical project, Ta Loi 3, Ta loi and other small ones Investment Investment can be understood as spending spare money, labor, capitals, etc on the any field to make and create more money and benefits in the future Intracom currently is investing in finance, construction and hydro power In these, Intracom can contribute its capitals and other powers to the projects, following the principles of integration and sharing Beyond basic investments, Intracom stands on its incredibility to build up the close relationship with banks such as Agribank, Techcombank, Viettinbank and VRBank, etc Leasing Intracom depends on building to improve leasing activity In other word, a number of finished and planned projects and buildings will become the foundation and sources to develop leasing activities Leasing is a kind of new filed in Vietnam theoretically, but in practice, it can be seen as traditional one Because many enterprises are powerful in building, which makes potentiality to enhance leasing based on the spare rooms in their buildings Also, leasing keeps many advantages to develop in a transitional economy in Vietnam Leasing not only solve the problems of offices in hot-time of estate but also helps company, especially medium companies saves money of wasting on building one of their own Seeing that need, Intracom determines to keep up with the modern trend, focuses on growing leasing business 1.2 Leasing activity in Intracom: Role and Difficulties 1.2.1 Role Traditional business, new concept It is hard to trace back the origin of leasing business No clear evidence of leasing is found However, leasing business has a quite simple development like a natural improvement For the beginning, it started from the using up of available rooms and spaces of buildings where its owner couldn’t spend all The owner would like to exploit the available resources which can bring them more money than leave them ... observation, Intracom? ??s performance reports and minutes of meetings Dao Thuy Linh – CQ493858 – Business English 49A CHAPTER 1: INRODUCTION OF LEASING BUSINESS OF INTRACOM 1.1 Introduction of Intracom. .. performance management in Intracom? - What are failures of Intracom in management of customer relationship? - How can Intracom Lease Division improve its employees’ performance and customer relationship. .. spreading its business into leasing, financial investment, building materials, etc Intracom created and built its brand as a leading builder in construction with identical logo and slogan of “shining