NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL VU QUANG MINH IMPROVING THE SALES FORCE MANAGEMENT AT SAVILLS VIETNAM Bachelor of Business Administration in English (E BBA) Thesis HANOI, 2016 NATIONAL E[.]
NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL VU QUANG MINH IMPROVING THE SALES FORCE MANAGEMENT AT SAVILLS VIETNAM Bachelor of Business Administration in English (E-BBA) Thesis HANOI, 2016 NATIONAL ECONOMICS UNIVERSITY BUSINESS SCHOOL BUSINESS SCHOOL IMPROVING THE SALES FORCE MANAGEMENT AT SAVILLS VIETNAM Bachelor of Business Administration in English (E-BBA) Thesis Student: Vu Quang Minh Class: EBBA – 4B Supervisor: Associate Professor Vu Thanh Hung HANOI, 2016 ACKNOWLEDGEMENTS I would like to express my most sincere gratitude to my instructor – Associate Professor Vu Thanh Hung for his enthusiastic guidance and helpful feedback during my working process of this final thesis It will be difficult for me to complete this thesis without his advices and suggestions The thesis was prepared by using theories and techniques gained through EBBA course at Business School of National Economics University I would like to say special thanks to all the lecturers and coordinators for the knowledge they brings and share throughout the course I absolutely appreciate and sincere thanks to all individual for providing me with the necessary information and supporting me with advice during the period of internship: Mr Nguyen Nhat Linh – Project Manager of Savills Hanoi who directly instructed me and other friendly staffs when I took my probation in Savills Vietnam Especially, I would like to give my special thanks to my family and my friends especially E-BBA 4B members for all their encouragement and support which enable me to complete this work Vu Quang Minh January, 2016 TABLE OF CONTENTS ACKNOWLEDGEMENTS TABLE OF CONTENTS LIST OF ABBREVIATIONS LIST OF FIGURES AND TABLES CHAPTER I: INTRODUCTION .7 1.1 Rationale 1.2 Research objectives 1.3 Research questions 1.4 Research Methodology 1.4.1 Research process 1.4.2 Research method 1.5 Data collection methods 10 1.5.1 The secondary data collection 10 1.5.2 The primary data collection .10 1.6 Research scope .10 1.6.1 Content 10 1.6.2 Location .10 1.6.3 Timeframe 11 1.7 Thesis structure 11 CHAPTER II: THEORETICAL BACKGROUND ABOUT SALESFORCE MANAGENT 12 2.1 Overview of sales force 12 2.1.1 The definition of sales force 12 2.1.2 The importance of sales force 12 2.1.3 Types of sales force 14 2.2 Sales force management 14 2.2.1 Definition of sales force management .14 2.2.2 Sales Force Recruitment and Selection 15 2.2.4 Sales force motivation .19 2.2.5 Sales force evaluation 21 2.2.5.1 Sales force evaluation factors 21 2.2.5.2 Sales force evaluation process .22 CHAPTER III: THE CURRENT SITUATION OF SALES FORCE MANAGERMENT AT SAVILLS 24 3.1 General information about Savills Vietnam 24 3.1.1 Overview 24 3.1.2 History .25 3.1.3 Business Areas 25 3.1.4 Organization Structure: 26 3.1.5 Sales Department Structure .33 3.2 Sales force management at Savills Vietnam 37 3.2.1 Recent sales results in Savills Vietnam, Hanoi Headquarters 37 3.2.2 Recruitment and training the sales force 40 3.2.2.1 Sales force recruitment 40 3.2.2.2 Sales force training 41 3.2.3 The operation of Savills sales force 43 3.2.3.1 The composition and size of Savills Hanoi sales force 43 3.2.3.2 The basic policies of sales force management in Savills .45 3.2.4 Savills Hanoi sales force motivation 46 3.2.4.1 Supporting tools 46 3.2.4.2 Salary and commission for company’s employees 46 3.2.5 Savills sales force assessment 48 3.2.5.1 Evaluation factors 48 3.2.5.2 Summarizing Savills Sales force problem 49 CHAPTER IV: RECOMMENDATIONS TO IMPROVE SALES FORCE MANAGEMENT AT SAVILLS 50 4.1 Business direction for Savills in the next period 51 4.2 Recommendations 51 4.2.1 Recruitment process 51 4.2.2 Training, development orientation and promotion .52 4.2.3 Management policies 53 4.2.3.1 Administrative policies 54 4.2.3.2 Work tasks 55 4.2.4 Sales force motivation .57 4.2.4.1 Salaries and Benefits 57 4.2.4.2 Reward and recognition system 58 REFERENCES 59 APPENDIX 60 LIST OF ABBREVIATIONS PM Project Manager SM Sales Manager R&D Research and Development IT Information Technology HRM Human Resources Management LIST OF FIGURES AND TABLES Figure 1: Research process Figure 2.1: Recruitment and Selection process 17 Figure 2.2: Training components 18 Figure 2.3: Evaluation process 23 Figure 3.1: Organization structure of Savills Vietnam 26 Figure 3.2: The human allocation at Savills Hanoi 28 Figure 3.3: Gender distribution in Savills Hanoi .29 Figure 3.4: Age distribution in Savills Hanoi 30 Figure 3.5: Sales team’s major distribution .31 Figure 3.6: Level of Education of Salespeople in Savills Hanoi .32 Figure 3.7: The Sales Department Structure 33 Table 3.8: The Sales Department allocation 33 Table 3.9: Recent sales results in Savills Vietnam, Hanoi Headquarters 38 Table 3.10: Savills Vietnam Recruitment Report 2014 – 2015 41 Table 3.11: Savills training sessions 42 Table 3.12: Projects report of Savills Hanoi 2014 – 2015 44 Table 3.13: Salaries and commission of Savills employees 47 CHAPTER I: INTRODUCTION 1.1 Rationale It is an indisputable fact that sales force has been the leading factor in the success of a company in terms of the fund they bring back as well as the image they are spreading Especially with the current development of information technology, their roles are even more necessary as they are the main element to make the company profitable In the market situation at the present when technology has revolutionized the way people work and communicate, competitions among parties are getting more fiercer, sales force needs to be intensely trained and widened the horizon in order to fulfill its missions However, businesses in Vietnam mostly focus on training high level managers including financial managers, HRMs, marketing managers but neglect on sales managers This is, in fact, a fatal mistake makes many companies making a loss, being brand-unknown, and even standing on the edge of bankruptcy despite a long time period of establishment Branch established in 1995, Savills is one of the largest real estate consulting firm in Vietnam with over 940 staffs and provides comprehensive real estate services Savills Vietnam has two main campuses in HCMC and Hanoi, which have achieved remarkable results in sales as well as keep the annual profit at a stable level Unfortunately, due to the tough competitive market, the company couldn’t reach proposed sales target Therefore, the author would like to choose the subject “Improving the sales force management at Savills Vietnam” with the desire of enhancing the efficiency of salespeople’s working performance and improve their contribution to organization Furthermore, the author also carry out this study with the expectation of better understanding among employers and employees to help the company achieve further success in the near future 1.2 Research objectives The primary intention of this study is to investigate and to comprehend the sales force management in Savills Vietnam which would be focus on the following objectives: To identify appropriate framework for evaluating the sales force management in Savills Vietnam To understand the current situation of sales force in Savills Vietnam To propose recommendations and solutions to improve the management of sales force in Savills Vietnam 1.3 Research questions In order to achieve the mentioned objectives, the content of the study will be based on the below questions: What are the sales force characteristics and sales force management? What is the appropriate framework for evaluating the efficiency of the sales force in Savills Vietnam and how it is managed What should the managers to improve salespeople in Savills Vietnam? 1.4 Research Methodology 1.4.1 Research process The research process is described as the following graph, using both secondary and primary data: