Văn hóa công ty – văn hóa doanh nghiệp – phân tích tại ngân hàng VIB e

Văn hóa cơng ty – văn hóa Doanh nghiệp – phân tích ngân hàng VIB INTRODUCTION Company culture - also known as corporate culture - is the intangible asset of each enterprise Along with the development of the market economy, the construction of corporate culture is an essential job Companies are building for themselves an unique culture; many have been successful but not a few has failed or had to endure a lot of difficulties before achieving success in building a corporate culture The success or failure in business of each company is always associated with cultural elements of that business, so it is safe to say that: Corporate culture – the golden factor for success I/ THE CONCEPTS AND THE SELECTION OF THE COMPANY: – Culture Definition: According to researchers around the world, culture is understood in two cases: Firstly, culture is understood to be anything created by man (which was not available in nature) and transmitted from generation to generation, and learned as well as accumulated by people Secondly, culture is understood to be the culture of the community Each nation produces some products - (valuable) tangible and intangible things - and the way on how to use them is unique based on their own historical background According to UNESCO, there is a different definition of culture: "Culture reflects and expresss in a general, lively way every aspect of life (of each individual and each community) that took place in the past, as well as happening in the present; over the centuries it has constituted a system of values, traditions, beauty and lifestyle based upon which each nation proves its own identity” – Company culture (corporate culture): What is corporate culture? Corporate culture includes all the cultural values created during the existence and development of a company which has become the values, concepts and practices, and traditions rooted into that company’s activities and affect feelings, the way of thinking and behavior of all members of the company in pursuing and implementing targets Like culture in general, corporate culture has its own distinctive characteristics Firstly, corporate culture is the product of those who work in a same company and meet the needs of sustainable value It established a system of values which people in the company share, accept, promote, and behave accordingly Corporate culture also contributed to create the difference between companies and is considered to be the own tradition of the enterprise – Selecting the company: - Company name: Vietnam International Commercial Joint Stock Bank (VIB) II/ ANALYZING THE CAUSE AND EFFECT RELATIONSHIP BETWEEN THE SUCCESS IN BUSINESS AND THE CORPORATE CULTURE OF VIB: – Introduction about VIB: - Full name: Vietnam International Commercial Joint Stock Bank - Abbreviated name: International Bank (VIB) - Headquater: VietTower Building, No 198B Tay Son, Dong Da, Ha Noi - The establishment and development history: + VIB was established on 18/9/1996, with the initial charter capital of 50 billion only and more than 20 staff members VIB founding shareholder is the Bank for Foreign Trade of Vietnam (Vietcombank), Bank for Agriculture and Rural Development of Vietnam (Agribank) and a number of businesses as well as successful Vietnamese businessmen in foreign countries + 2010 marked the milestone of VIB when the Commonwealth Bank of Australia (CBA) - the No retail bank in Australia and one of the 10 largest banks in the world with over 100 years of experience - officially became a strategic shareholder of VIB at a rate of share ownership initially of 15% After a year of being a strategic shareholder of VIB, on 20/10/2011, CBA has completed investing additional 1,150 billion VND in VIB, increase the percentage share ownership of the CBA at VIB from 15% to 20% to strengthen the capital base, capital adequacy ratio, expand business opportunities and operational scale for VIB This strategic cooperation relationship of VIB has facilitated VIB to improve the capital capacity, technology, risk management to develop successfully long-term plans in the business strategy of VIB and especially improving the quality of customer service to match international standards – Opearational results of VIB: By 2011, after 15 years in operation, VIB has become one of the leading commercial joint stock banks in Vietnam with total assets reaching 100,000 billion VND The bank’s charter capital is now VND 4,250 billion while its shareholders’ equity is more than VND 8,200 billion; after-tax profit in 2010 reached 1,100 billion VND in 2011 and is expected to reach 2,000 billion VND in 2011 Currently, the bank has 4,000 people working at 150 branches and transaction offices in 27 key provinces/ cities across the country During its operation, VIB has won a range of titles and awards from prestigious organizations nationally and internationally, including "Strong Brand of Vietnam", "Bank with The Most Satisfying Retailing Services" and "Bank with Excellent International Payment", and ranked the 3rd among 500 biggest private enterprises in Vietnam in terms of revenue as voted by VietnamNet Being one of the pioneers in reforming business activities, VIB always takes its customers as the focus and its service quality and innovative solutions as the business motto, with the determination to become the most innovative and customer-centric bank in Vietnam Since its foundation, one of the missions defined by the bank’s leaders is to be excellent in providing innovative solutions to satisfy customers’ maximum needs Therefore, VIB has been enhancing its efficiency in the use of capital and management capacity and continuing to focus on the development of retail banking networks and new products through diversifying distribution channels in order to provide financial solution packages to focused customer groups, and simultaneously improving the service quality to increasingly better serve customers In order to that, VIB must continuously improve and invest, especially invest in human factors to create a professional and efficient working environment, connecting people, to promote the overall strength of 4300 personnel to accomplish the goal of becoming one of three leading joint-stock commercial banks in Vietnam by 2013 – The cause and effect relationship between business and corporate culture of VIB: a) The current situation of corporate culture in Vietnam: - Viewing in a general way, we can see that the culture in institutions and companies in our country still have certain limitations: + It is a culture built in a low level and complicated base of people knowledge affected by other factors + Working environment with many limitations lead to short-term vision; there hasn’t been a suitable concept about competition and coorperation; there’s a lack of professional manner in working, and it’s still affected by extreme trends of the subsidy economy + There hasn’t been a combination of concepts in manager staff training due to training origins; there hasn’t been a procedure in using staff, and there is a limitation in education which leads to low training quality - On the other hand, corporate culture is still affected by other factors such as: The poor agriculture production and the impact of the remnants from the colonized and feudal era b) The corporate culture of VIB: - Stemming from the above reality, VIB has always been awared that: corporate culture has a very important role in the development of every business, because without the factors of culture, languages, materials, information generally known as the business knowledge, any company will have many difficulties to stay and survive In today's social trends, the resources of a business is people in which, the corporate culture is the link and can multiply the value of each individual resource - Corporate culture is essential for a company; it can make a business develop, and without it, will make the company collapse Therefore, VIB has built for itself a cultural environment which fully contained the following elements: + A clear vision: VIB is thriving to become the most creative and customeroriented bank in Vietnam + Have a clear vision and mission: Towards customers: Become prominent in providing creative solutions to satisfy customers’ demand at the maximum level Towards personnel: Build a culture of efficiency, business spirit and effective working environment Towards stockholders: Bring attractive and sustainable benefits to stockholders Towards the community: VIB has always been involved in communityoriented activities; demonstrating the civic responsibility is one of the most important activity policies of VIB In recent years, VIB has actively participated in many meaningful social and charity programs such as: jogging to raise money to support children with the muscle fibrosis, supporting the victims of Can Tho Bridge collapse, support the establishment of hospitals for the poor in the province of Kien Giang, support the Surgery Foundation “For children Smile Operation Smile”, support the central provinces’ flood victims etc…, sponsor the Future Banker program of the Banking Academy, sponsor the celebrating Vietnamese talents program: education support activities (Education), Environmental Protection (Environment), community development (Enrich ment) + Insistent in targets: VIB is thriving to become one of the three leading commercial joint stock banks in Vietnam by 2013 and has always been insistent with that goal + Powerful in leading: After the Commonwealth Bank of Australia (CBA) became a strategic partner of VIB, in the Board of Directors and the Executive Board of the VIB, there have been foreign experts working to firmly and strongly implement plans to achieve goals outlined by VIB + Recruiting talents: Currently, the recruitment policy of the VIB is highly appreciated with fair examination and favourable treatment in order to allow employees to have conditions to devote their best for the job Through that, VIB has the ability to attract and retain talented people with the development, advancement opportunities, and the awareness of one’s own values + Freedom in cooperation: VIB are currently signing a cooperation contract with many organizations in the areas to facilitate its strategy such as schools, construction corporations, and automobile manufacturing and trading companies… + Shared authority: VIB has a structure to share authority, in which there is a clear structured level in order to optimize intelligence and abilities of each staff + Customer as the target: is express through VIB’s slogan: “The heart of banking”, with the idea of connecting humanity, with the promise of always trying, devoting in serving customers Additionally, it was also expressed through the logo of VIB: The logo of VIB is formed by three letters V, symbolizing the connection and integrated resources that we bring to the relationship with customers and partners In the center of the three characters V is the image of a heart showing that the customer is always in the heart of VIB + Considered ideas, supported improvement: Every year, VIB always created a campaign for internal competition in order to improve new business ideas, new improvement in working procedures to promote business effeciency + Appreciated success: Monthly, quarterly and yearly, VIB conducted a business report, and appraise the contributions of individuals and units to the success of VIB in the forms of bonuses, raises, promotions , foreign trip in order to encourage staff members to work harder c) The importance of corporate culture: - There is a question posed upon us, why Corporate cuture has such an importance to companies in general and VIB in specific? - We can confirm that: + Corporate culture makes each member to understand their own value to the company An organization can only develop when all members understand where they are going? What are they doing? And to which level is their role? With very specific goals, they get to stay in an environment where they can freely devote, share ideas, recognized with success all can understand that, they are an indispensable part of the company They are like a link in an active chain and if that link stops working, the entire system will also stop + Corporate culture makes everyone in the company working together, overcoming the challenging period, the difficult situations of the company and they can work without thinking about time A unity, a working atmosphere of the company is most needed when it is in difficult and challenging times, especially those companies on the brink of bankruptcy All members of the company need solidarity and sacrificing spirit The higher level and impact the company has, the more sacrifice its members need to offer To overcome difficult situations, companies need a comprehensive strength to withstand and that power can only be achieved when there is a corporate culture - the culture of sacrifice, the culture of unity + Corporate culture can create encouragement, motivation for everyone and above all, create an atmosphere of a victory group In a world when the social standards of success are no longer be measured by the success of an individual, it was pushed to the group level Even when viewing by the individual perspective; that individual will never be considered a success if his group fails A new concept for leaders today is, "Team work is dream work," which means that only by working in team our dream of success can become true Or in other words, the leadership ability is measured by the ability to lead a group The bigger the group, the higher the leadership; and the more people joining a job, the sooner that job is completed Just try to imagine if all people are in the spirits of the winner, the spirits of the people on their way to glory? With them, there will never be a second path to 10 victory This is very important because everyone focus on the same target When they have put a goal for a team to win, they will all work together to perform The spriti of the teamwork is elating It's the key to success and is also the key to unity And to get to that key, there’s only one way, which is corporate culture CONCLUSIONS: The success of every business, especially in Asian countries, is usually based on the personal relationships of the leader; while in Western European countries, the success of the business is based on factors such as the resource management ability, work performance, employees’ flexibility Besides subjective factors, in order to build corporate culture, VIB has also focused on the objective factors It is to create a market, customers’ interests, expressed through the business principle with the determination to "become the most creative and customer-oriented bank in Vietnam." One of the missions that the Board of Directors of VIB had determined right from the day of establishment is to be "prominent in providing creative solutions to satisfy customers’ demand at the maximum level." It is by successfully building its own corporate culture; VIB has achieved significant success for both the current and future 11 ... only be achieved when there is a corporate culture - the culture of sacrifice, the culture of unity + Corporate culture can create encouragement, motivation for everyone and above all, create an... our dream of success can become true Or in other words, the leadership ability is measured by the ability to lead a group The bigger the group, the higher the leadership; and the more people joining... Excellent International Payment", and ranked the 3rd among 500 biggest private enterprises in Vietnam in terms of revenue as voted by VietnamNet Being one of the pioneers in reforming business