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Internal factors affecting operational efficiency
3.2.2.1 Training Transfer skills factor and operational efficiency
Training transfer skills refer to the ability to transfer knowledge and skills acquired during training to the workplace Research has shown that training transfer skills have a positive effect on organizational performance, as improved skills enable employees to become more efficient and productive A study by van der Klink (2001) found that training transfer skills are positively related to job satisfaction and organizational commitment Furthermore, a study by Lisa A
Vũ Lam Tùng — 11195639 — Business English
(2007) found that training transfer skills are associated with higher organizational performance, as employees with higher levels of these skills are able to better utilize their knowledge and skills in the workplace.
Training transfer is the ability of the trainee to use what he or she has learned in a different context and to recognize and expand its application in new circumstances (Hansen, 2001) When the trainees are inspired to apply their knowledge without being coerced, the transfer process takes place (Holton et al., 2003) It can also be defined as the extent to which trainees applied their training outcomes on a consistent basis in terms of knowledge, skills, behavior, and attitudes acquired during training in which they have participated (Velada & Caetano, 2007) Although there are numerous definitions of training transfer, it is generally accepted and is consistently used by other researchers to refer to the extent to which training outcomes in terms of knowledge, skill, and abilities are successfully applied to the job and maintained over time after the training session (Baldwin & Ford, 1988).
Research has identified a number of factors that can affect the effectiveness of training transfer skills These include the type of training, the quality of training, the support provided for transfer, and the relationship between the trainer and the trainee.
The type of training provided can have an effect on the effectiveness of training transfer skills A study by Scott (2010) found that the use of experiential learning was associated with improved training transfer skills This suggests that providing training that focuses on experiential learning can have a positive effect on the effectiveness of training transfer skills.
The quality of training is also an important factor to consider Research has shown that the quality of training can have a significant effect on the effectiveness of training transfer skills (Yang Hi, 2016) This suggests that providing high-quality training is important in order to ensure the effectiveness of training transfer skills.
Vũ Lam Tùng — 11195639 — Business English
Providing support for the transfer of knowledge and skills from training to the workplace can also have an effect on the effectiveness of training transfer skills A study by Paul Lyon (2008) found that providing support for transfer can lead to improved transfer skills This suggests that providing support for transfer is important in order to ensure the effectiveness of training transfer skills.
(iv) Relationship between Trainer and Trainee
The relationship between the trainer and the trainee can also affect training transfer skills A study by Scott (2010) found that a positive relationship between the trainer and the trainee can lead to improved training transfer skills This suggests that it is important to ensure that a positive relationship exists between the trainer and the trainee in order to ensure the effectiveness of training transfer skills.
Many owners and managers of small to medium-sized businesses lack managerial training and experience Through a process of trial and error, the typical owner or managers of small businesses develop their own management style Because of this, their management style is probably more intuitive than analytical, more focused on short-term issues than long-term ones, and conceptually more opportunistic than strategic (Hill, 1987) This attitude may present issues when difficult decisions need to be made, despite the fact that it is the key strength during the startup phase of the business because it fosters creativity The owners of small to medium-sized businesses are less equipped to deal with changes in the business environment and to plan appropriate changes in as a result of poor managerial ability Therefore, the proposed hypothesis has been formulated to estimate the associations between the training transfer skills and operational efficiency in the context of Hong Bang Joint-stock Company.
HI Training transfer skills has a positive impact on operational efficiency.
3.2.2.2 Management factor and operational efficiency
There is a growing body of literature addressing the role of management in operational efficiency Studies have consistently shown that good management practices can lead to improved operational efficiency and cost efficiency For example, one study found that firms with effective management practices had higher cost efficiency than those with weaker management practices (Komninos, 2004) This indicates that management plays a significant role in determining the success of a joint stock company
Vũ Lam Tùng — 11195639 — Business English
The competition must be defeated for a business to thrive and grow The ability of business managers to see the big picture and take charge is what ultimately determines whether an enterprise will prevail in a market that is fiercely competitive Up to now, it has also been confirmed that even the assurance and improvement of product quality of an enterprise is heavily influenced by management factors, not technical factors, quality-oriented management following the ISO 9000 series of standards is based on this ideological foundation.
In the business process, corporate governance exploits and distributes production resources The quality of resource allocation is also an important factor affecting the business performance of each period The quality and talent of the team of managers, especially senior managers, have the most important role , decisive influence on the success or failure of the business.
In the role of education in business performance, Nzioka (1995) notes that the need for better management is one of the factors impeding the growth of small businesses For effective management to occur, there must be proper planning, control, organizing abilities, and the right amount of qualified and competent staff. According to Harper (1984), the expansion of numerous businesses of all sizes suggests that the lack of qualified managers is a more significant barrier to economic growth The need for managers to plan, coordinate, and control the activities of the enterprise increases as it grows The owner, who is likely to manage the small business, may lack the knowledge, expertise, and experience necessary to successfully direct operations, which will have an impact on business performance He or she may work in a very rigid environment at times, one that is not set by wise managerial and business choices but rather by social and cultural norms Business performance is likely to be impacted by an inability to maintain accurate records, to keep personal and business affairs separate, to control cash flow, and to manage growth.
The outcomes and operational effectiveness of corporate governance are largely dependent on the managerial team's professional qualifications as well as the organizational structure of the management apparatus, which is dependent on the definition of the roles, responsibilities, and obligations of each department and each individual, as well as the establishment of the connections between the various components in that organizational structure Thus, the following hypothesis was formulated to test this link in the context of Hong Bang Joint-stock Company.
Vũ Lam Tùng — 11195639 — Business English
H2 Management skills have a positive impact on operational efficiency.
3.2.2.3 Working environment factor and operational efficiency
Working environment has traditionally been defined as the physical, psychological, and social conditions that employees experience while in the workplace This includes factors such as the design of the physical space, the amount of natural light, office temperature, and noise levels (Rasmussen, 2007). More recently, researchers have argued that working environment should also include elements such as job security, job satisfaction, sense of autonomy and control, and opportunities for career development These factors are important for employee motivation, commitment, and loyalty and can significantly affect the overall performance of an organization (Becker & Huselid, 2012)
Research Model <2 << 5 5< 5 2 9 5 999510909 05695056696606.ứ 19
Vũ Lam Tùng — 11195639 — Business English
After processing the research, reviewing results of previous studies, as well as learning the theoretical models that have been built, the research found that the factors belong to Training Transfer Skills (TTS); Management Skills (MS); Working Environment (WE); and Technology (T)) have direct relationships with
From the above research model, the author proposes the following hypotheses:
HI Training transfer skills has a positive impact on operational efficiency.
H2 Management skills have a positive impact on operational efficiency.
H3 Working environment has a positive impact on operational efficiency.
H4 Technology has a positive impact on operational efficiency.
Vũ Lam Tùng — 11195639 — Business English
INTERNAL FACTORS AFFECTING TO OPERATIONAL
Employees’ opinion on the Company’s Management skills
Table 4.4: Mean Scores for Management skills variables
Is the manager responsive to your needs and | 4.1714 66358 questions?
Do you feel like your Manager is fully aware | 4.2571 70054 of your skills and abilities?
Does your Manager inspire you to be better? | 4.4000 65079
Respondents agreed that the Manager inspires employees to be better at Hong Bang company (M=4.4, SD=0.65) Moreover, the Manager is said to be fully aware of employees’ skills and abilities (M=4.2, SD=0.7) The state that the manager is responsive to employees’ needs and questions was approved by most of the respondents (M=4.2, SD=0.66) The study findings imply that the respondents agreed that management communicates about operational efficiency (M=4.31, SD=0.58).
The findings indicate that Poor management is the root cause of many failings and poor performance (M=4.0, SD=0.56) Business Management Skill helps to improve operational efficiency and corporate value by allocating resources efficiently, improving policies for employees, and improving the quality of management Furthermore, improving the quality of corporate governance will reduce the risks associated with financial fraud or transactions for the benefit of senior management A high sense of responsibility combined with effective risk
Vũ Lam Tùng — 11195639 — Business English management and internal controls can help a company detect problems early before they arise The application of good corporate governance practices contributes to improving the decision-making process of the Executive Board and the Board of Directors.
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Table 4.5: Mean Scores for Working environment variables Note: Scale range from “1=strongly disagree” to “5=strongly agree”’
Workplace environment affects business 4.6857 52979 efficiency
10 The company's working environment is 4.6857 comfortable
= Employees are civilized and polite 4.3429 59125
Does everyone on the team receive fair 4.0857 44533 treatment from the Manager?
From the findings, The working environment at the company was rated as comfortable by the respondents (M=4.68) The manager's fairness toward each employee in the company was highly rated, receiving a mean of 4.08 points With a mean of 4.34, the respondents gave the statement "Employees are civilized and polite to a great extent" high marks.
They indicated the workplace environment affects business efficiency with a mean of 4.68 The working environment is considered an important factor that greatly affects the productivity and quality of employees' work Each employee will feel stimulated, have more creative inspiration, and be more motivated to
Vũ Lam Tùng — 11195639 — Business English produce their best work when working in an environment where expectations are met Additionally, a positive work environment fosters a sense of unity among employees and businesses, which benefits employees' health and morale at work. Contrarily, a poor work environment will cause employees to become easily depressed, produce subpar work, and even lose faith in the leadership and quit the organization.
4.2.4 Employees’ opinion on the Company’s Technology
Table 4.6: Mean Scores for Technology variables
Modern equipment at the company helps 4.5429 70054 employees feel comfortable when going to work
Technology help employees to complete the | 4.7429 44344 work faster
Technology enable the core business of company
The finding shows that the Technology plays an important role in business operational efficiency The surveyors all agree that Modern equipment at the company helps employees feel comfortable when going to work(M=4.5, SD0.7), Technology helps employees to complete the work faster(M=4.7, SD= 0.4), Technology helps the work more efficiency( M= 4.7, SD= 0.45), Technology enable the core business of the company(M=4.2, SD = 0.73).
Vũ Lâm Tùng — 11195639 — Business English
The research was carried out for the following main purposes: (1) Figure out the components of Internal Factors (2) Find out the effect of each component on the operational efficiency (3) Give some recommended solutions to improve the operational efficiency of the company.
Based on research models and hypotheses, the researcher has obtained some conclusions through 35 questionnaires as follows:
Firstly, there are 4 components of Hong Bang internal factors that affect operational efficiency, including: Training Transfer skills, Management skills, Working Environment and Technology In which, Training Transfer Skills allow employees to quickly learn and understand new tasks, while Management Skills provide an organized and efficient system for managing resources and personnel.
A comfortable and safe Working Environment can help to improve employee motivation, while the use of Technology can increase speed and accuracy in operations.
Secondly, findings supported all the study’s hypotheses which propose that there is positive relationship between internal factor including its components and operational efficiency Most employees at HB company agree with all internal factors of the company with the least is Management skills and the most is Training Transfer skills Regarding each factor as follow:
Training Transfer skills: The research suggests that providing high-quality training, providing support for transfer, and ensuring a positive relationship between the trainer and the trainee are all important factors to consider in order to ensure the effectiveness of operational efficiency.
Management skills: The research has highlighted the role that management plays in operational efficiency and the various approaches to understanding and improving it The research suggests that effective management is an important component of operational efficiency Managers should be aware of the impact that their management style and organizational culture can have on operational efficiency, and should strive to create an environment where employees can work together effectively to achieve organizational goals.
Working Environment: The evidence reviewed in this paper suggests that working environment can have an impact on operational efficiency, although the effect is not always statistically significant This suggests that it is important for
Vũ Lâm Tùng — 11195639 — Business English the joint stock company in Haiphong to take steps to create a supportive working environment in order to maximize operational efficiency.
Technology: The research provides evidence of the importance of technology-related factors in driving operational efficiency in HB joint stock companies Technology solutions can be used to reduce costs, improve customer service, and enhance collaboration and communication between departments. Additionally, it is important to provide adequate training and support, as well as to have an effective governance framework in place in order to maximize the benefits of technology solutions.
Based on the results above, this thesis has provided an overview of the internal factors that affect operational efficiency in Hong Bang Investment Joint Stock Company These include training transfer skills, management skills, working environment, and technology It is clear that the company needs to further develop these factors in order to enhance operational efficiency The implementation of appropriate strategies and policies for training, management, and technology can improve operational efficiency and help the company reach its goals Furthermore, an improved work environment can help employees become more productive and motivated Therefore, the company should strive to create an environment of mutual trust and respect in order to ensure that all employees can contribute positively to the company’s success.
This chapter was devoted to data presentation, analysis, and discussion of the study's findings The results were presented in frequency and correlation tables. The findings were discussed in combination with the research goals Chapter 5 will suggest recommendations to the company in order to improve their operational efficiency.
Vũ Lâm Tùng — 11195639 — Business English
5.1 Recommendation for Hong Bang company
The author wants to recommend Hong Bang company about the technology factor to promote Operational Efficiency because the business landscape continues to evolve and technology advances, it is increasingly important for companies to embrace and invest in the latest technologies to help them remain competitive and maximize operational efficiency The author is pleased to recommend that HB company explore a wide range of technologies to help them improve their operations and increase their efficiency.
The first technology that the author recommends is cloud computing In fact, during the internship at HB company, the author observed that the company did not store the data of customers and businesses in the cloud, but only in the computer's hardware By leveraging cloud computing services, HB company can access the resources and data they need anytime, anywhere This can help them reduce their dependence on physical hardware and allow them to access their data from any device, which can help them save time and money in the long run Additionally, cloud computing can provide them with enhanced scalability and flexibility, which can help them better manage their resources and respond quickly to changing market conditions. Beside, the author recommends that HB company explore the use of blockchain technology This technology can help them secure and store their data, increase transparency, and streamline their processes Additionally, blockchain can help them reduce the cost of managing their data and increase the speed of their transactions.