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Ineffective salesforce in improving quality worker life joint stock company (iqwl jsc)

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UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business BUI QUANG HUY INEFFECTIVE SALESFORCE IN IMPROVING QUALITY WORKER LIFE JOINT STOCK COMPANY (IQWL JSC) Ho Chi Minh City – Year 2021 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business BUI QUANG HUY INEFFECTIVE SALESFORCE IN IMPROVING QUALITY WORKER LIFE JOINT STOCK COMPANY (IQWL JSC) SUPERVISOR: Dr DOAN ANH TUAN Ho Chi Minh City – Year 2021 TABLE OF CONTENTS LIST OF ABBREVIATIONS LIST OF FIGURES LIST OF TABLES ACKNOWLEDGEMENTS EXECUTIVE SUMMARY INTRODUCTION 1.1 Company history 1.2 Company vision mission 1.3 Products and services 1.4 Target customers: 1.5 Organization chart 1.6 Competitor’s information COMPANY CONTEXT SYMPTPOMS 3.1 Unachieved sales targets: 3.1.1 Definition of sales; sales target and its relationship 3.1.2 Diagnosis and analysis 3.2 High pressure on cash inflow for running business 3.2.1 Definition of cash inflow from operating activities and its important 3.2.2 Diagnosis and analysis 10 3.3 Increasing rapidly in proportion of expenditure compare to revenue 11 3.3.1 Business expenses 11 3.3.2 Diagnosis and analysis 12 PROBLEM 14 4.1 Potential problems 14 4.1.1 Ineffectiveness & Inflexibility in forecasting financial budgeting 14 4.1.2 Unprofessional trained salesforce 17 4.1.3 Instable of funding resources 19 4.2 Validating problem 22 4.2.1 Employee’s perspective 22 4.2.2 Manager’s perspective 23 4.2.3 Finance Manager’s perspective 24 4.3 The importance of main problems 26 CAUSE VALIDATION 27 5.1 Potential causes 27 5.1.1 Lack of professional HR in the training department 28 5.1.2 Budgetary constraints and lack of training opportunities 28 5.1.3 Poor tracking process of employee training knowledge acquisition 29 5.1.4 Differences in professional qualifications and competence of trainers 30 5.2 Cause validation 30 ALTERNATIVE SOLUTION 33 6.1 Alternative Solution 1: Propose to setting up professional training team 34 6.1.1 Exploration 34 6.1.2 Advantages and disadvantages: 35 6.1.3 Procedures: 37 6.2 Alternative Solution 2: Out sources professional trainers for staff 39 6.2.1 Exploration: 39 6.2.2 Advantages and disadvantages: 40 6.2.3 Procedures: 41 6.3 Alternative solution 3: Established post training evaluation system 42 6.3.1 Exploration: 42 6.3.2 Advantages and disadvantages: 45 6.3.3 Procedures: 46 6.4 Alternative solution 4: Focus on training budgeting to create training opportunities48 6.4.1 Exploration: 48 6.4.2 Procedure: 48 6.5 Solution justification 50 ACTION PLAN 51 REFERENCES: 58 APPENDIX 61 9.1 Financial statement report of IQWL from 2017 - 2020 61 9.1.1 Balance Sheet 61 9.1.2 Statement of income for the year ended 63 9.1.3 Statement of cash flow for the year ended 64 9.2 Supporting information 66 9.2.1 Interviewee’ information 66 9.2.2 Discussion objective 66 9.2.3 Interview outline 66 9.2.4 Interview guide 67 9.2.5 Transcript summary 68 9.2.6 Transcript for the group interview with the open – end question 79 9.2.7 Survey customer satisfaction (provide by IQWL JSC) 80 9.2.8 Survey customer satisfaction answer (provide by IQWL JSC) 82 LIST OF ABBREVIATIONS ACP AP APP AR BOD BSC CEO CFO COGS FC HR IQWL JSC Average collection period Account payable Average payment period Account receivable Board of Directors Balance scorecard Chief executive officer Chief financial Cost of goods sold Financial controller Human resources Improving quality worker life joint stock company LIST OF FIGURES Figure 1: Map of quantity potential customers Figure 2: Organization chart of IQWL JSC in 2019 Figure 3: Comparison between actual sales and sales target Figure 4: Actual sales by region from 2017 – 2020 Figure 5: Net cash flow from operating activities vs net revenue from 2017 - 2020 10 Figure 6: Proportion between expenses and revenue from 2017 - 2020 12 Figure 7: Proportion between expenses and revenue from 2017 – 2020 (Actual vs Plan) 13 Figure 8: The statistic about highest and lowest in average salespeople in 2019 by month 18 Figure 9: Initial cause and effect tree of IQWL 21 Figure 10: Main problem makes unable to achieve sales target at IQWL 27 Figure 11: Updated cause – effect tree map makes unable to achieve sales target at IQWL 28 Figure 12: Fish bone analysis diagram of unprofessional trained salesforce 33 Figure 13: The connection between balance scorecard and performance measures 44 Figure 14: Training budget flow (Referring from research(50)) 49 LIST OF TABLES Table 1: Net cash flow from operating activities vs net revenue (2017 – 2020) 10 Table 2: The variation of total revenue and expenses of IQWL from 2017 to 2020 compared to 2017 13 Table 3: Relationship between product share and profit margin in 2018; 2019 &2020 25 Table 4: Evaluation of the degree of impact for each potential cause 31 ACKNOWLEDGEMENTS The graduate thesis procedure is the most crucial period in the lives of every student A thesis is an essential assumption for us before we begin our job to develop research skills and useful knowledge For the completion of this thesis, I would like to express my sincere thanks to: The Board of Management of University of Economics Ho Chi Minh City (UEH) especially UEH- Internal School of Business of creating favourable conditions in terms of facilities with a modern library system, a variety of books and documents that are convenient for searching and researching information Dr Doan Anh Tuan had spent his valuable time reading the thesis and gave me valuable comments and corrected my errors in the thesis draft as well as final thesis The management team and colleagues in Improving Quality Worker Life JSC for creating favourable conditions for me to providing data, statistics, information, reports; assisting me having practical contact, answering questions to helps me gain more understanding, practical knowledge to finish the thesis My family, relatives, and colleagues for always being there, supporting, and encouraging Due to the lack of talent experience as well as the limitations of knowledge, the thesis will certainly inevitably have shortcomings I look forward to receiving comments, suggestions, and recommendations from the committee to improve the essay Finally, I would like to wish you good health, success, and happiness EXECUTIVE SUMMARY "Not achieving sales targets" is considered a major concern for all most businesses, in particular for service companies By utilizing a wide range of current technology to generate convenient services, services companies are continually modernizing, enhancing customer utility as well as attracting more potential customers in order to push their sales revenue However, technology is just the enhancing factor, the quality of employees especially salesforce remains fundamental to the performance of services ' s company because salesforce is considered as the connection between clients and the company In reality, an unprofessional trained salesforce is the largest concern in IQWL JSC This prevents the new salespeople is unable to satisfy tasks requirement on time while the experienced salesforce is stuck in attracting potential customers The quality of service to convince customers to purchase products will decrease which affect the sales revenue This research wants to give effective ideas for promoting the quality of salesforce in order to help the core business activity of IQWL will be more grown from there It is also expected to reduce its company cost and boost IQWL's sales revenue Furthermore, the training policies will also be interested and enhanced for IQWL's employees 1 INTRODUCTION 1.1 Company history In 2007, in the beginning, Improve The Quality of Worker’s Life Joint Stock Company (IQWL JSC) was established with the purpose to provide a pre-paid payment in the form of an electronic mobile wallet At that time, the mobile top-up agent network is a nice niche business, but not large enough to be interesting Therefore, the company owner continues to search for "product and fit market", started to zoom into the idea of "credits" being a powerful enabler and wherever "credit" payment is available, "credit" always wins The challenge to provide credits is to be able to quantify and estimate its "risk" counterpart Aha moment when the company owner asking the question "what if we can latch on the payroll as a key enabler for providing credits to employees?" As a result, improving the quality of worker’s life concept was born In 2013, after starting to create technology, product, market research, to validate the improve the quality of worker’s life, IQWL JSC became a for-profit social organization that offers workers in developing countries a ground-breaking job compensation package at their place of employment The program enables manufacturers, social organizations, banks, and service providers to provide the lowest total cost of access to basic life-changing products and services to workers at the bottom of the economic pyramid, who earn only $100-500 per month As a result, to close the affordability gap, IQWL offers a financial alternative for the purchasing of goods and services with a – months’ interest-free deferred payment plan 1.2 Company vision mission With the aim of improving the quality of life of workers and their families, therefore, IQWL JSC has a vision is “a breakthrough employee benefits solution for low and mediumincome workers in developing countries, providing workers access to basic life-changing products and services that improve quality of life for both themselves and their families and contribute to their professional growth and productivity” In order to fulfil this vision, IQWL JSC explains the mission as follows: 69 Mr Hoang: The risk cost and finance cost also make the high expenses proportion These costs related to the services that IQWL provide IQWL provide the finance service with allow worker buy product with instalment payment packaging If the instalment period increase, these cost increasing Quang Huy: Why there is the negative cash flow in operating activities? Mr Hoang: It relate to the nature of business, because IQWL offer to purchase product and services with a – months’ interest-free deferred payment plan Hence, the AR is long than AP which commit to pay supplier on time, usually in 30 days It creates the gap between cash in and out in operating business Another reason is that there is the decrease in sales revenue which leads to the lack of cash in Quang Huy: Is the negative of cash flow in operating activities make the IQWL in trouble? Mr Hoang: It is definitely yes Quang Huy: How does it make? Mr Hoang: As I mention before, sale revenue decrease in sales leads to a shortfall in cash inflow When there is a lack of cash inflow, it means that the company lacks working capital to operate It means that IQWL will suffer the pressure on cash flow for production and business Quang Huy: Any strategy to solve this problem? Mr Hoang: We had cooperated with bank however; it is not easy It required lot of relationship and complication procedure And we are trying to commit all of requirements But current situation, we need support from parent company Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Mr Hoang: Of course You are welcome Quang Huy: Thank you very much! Mr Hoang: My pleasure! Interview with Mrs Minh – FC Quang Huy: Nice to meet you, thank you for taking the time to this interview Mrs Minh: I'm also very pleased to meet you, nice to an interview with you 70 Quang Huy: What is the reason cause the actual expenses cannot align with the budget? Can you explain it clearly? Mrs Minh: At current practice, there is the centralised control, which mean, Head office will set budget and allocated to each brand as well as region When receive the budget, the region manager will respond for all activities Quang Huy: How can it over budget? Mrs Minh: The region will respond for all finance position but they did not set budget by itself The budget was set by head office; hence it may be lack of information Quang Huy: How you control budget? Mrs Minh: After receive budget from CFO, I will input into the system following the region in charge and keep track them When making payment, I will check document and put number in to systems If the amount over the budget, the systems will warn me Quang Huy: What you if it excesses the budget? Mrs Minh: I will ask the responder for explanation if there is no reasonable I will reject However, as mention above, cause when setting budget, there lack of activities from the lower level who directly participate to the tasks hence the case of excessing budget cannot be blamed Quang Huy: In case of the actual expenses is reasonable and it excesses the budget, what you do? Mrs Minh: I will summary, inform to CFO and getting his decision Usually, he approves these kind of expenses because it is arising in reality and related to the operation of the enterprise Quang Huy: I understand that, in several years, the cost-to-sales ratio has increased quite high over the years, the first reason is related to the increased costs, so the second reason is related to the decrease in revenue? Mrs Minh: You are right, the sales in recent year not meet the achieve the target and it also decrease which lead to the decrease in net sales Quang Huy: I also see that the gross profit is decrease in several years, can you explain me why? 71 Mrs Minh: It depend on the margin of the product sold If the product has low profit margin but you sell a lot, it still not improves the gross margin It means that you must concentrate to sell product which are high profit margin Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Mrs Minh: Of course You are welcome Quang Huy: Thank you very much! Mrs Minh: My pleasure! Interview with Mrs Hong – Heads of Sales Quang Huy: Nice to meet you, thank you for taking the time to this interview Mrs Hong: I'm also very pleased to meet you, nice to an interview with you Quang Huy: Can you share with me about the target customer and its potential? Mrs Hong: IQWL has cooperated with the Vietnam General Confederation of Labour to deploy its service Via Vietnam General Confederation of Labour, IQWL reaches potential customers Our target customers are the official workforce who have to join social insurance According to statistics Ministry of Labor, War Invalids, & Social Affair, in 2019, Vietnam has about 96 million people and approximately 56 million total workforces The current number official workforce about 16 million, and adding million new members [this number is expanding more than 5% annually] each year, reaching about 20 million by 2025 (who has income from $100 - $500 per month) This official workforce is scattered throughout the provinces and cities of Vietnam As a result, besides headquarter in HCM city, our company also has branches in the northern and central of Vietnam These branches along with headquartering will responsible for managing regions which are Ha Noi, Hai Phong, Da Nang, HCM City, Dong Nai, Binh Duong, and Mekong delta These regions have about 7,7mllion of workers and our company will focus on regions such as the industrial park in HCM city, Dong Nai province, and Binh Duong province” Quang Huy: Does IQWL set sales target every year and how is the implementation?? Mrs Hong: Of course, yes, but the company does not reach the target even though IQWL has revised every year Quang Huy: What is the reason why the revenue is decrease? 72 Mrs Hong: The revenue decrease due to some reasons such as: cannot get new customers, the number product sales which has less revenue is higher than the number of product sales which has high revenue Quang Huy: Can you explain me more about why we cannot get new customers? Mrs Hong: Well, it depends on sales people, at IQWL, IQWL salesforces have between one to five years of experience, but they come from various backgrounds knowledge Some of them have degrees in business hence may have less experience and expertise in persuasion and selling Quang Huy: So IQWL make any training courses for them? Mrs Hong: IQWL just provides the basic training courses about the product and services to them After that, they were instructed by experiences Quang Huy: How about skills for salesforce? Mrs Hong: Actually, it depends on salespeople, if they want to have it, they need to training by themselves Quang Huy: Do you think it is practical? And why? Mrs Hong: I think training on-job has two side, the good thing is that company will save time and cost, during working time, experienced can train to new comers and new comers also know the reality of work The other side is that, experienced employees although they have the professional experiences and knowledge, they may lack of teaching methods to train A other reason experienced one will think that new comers are threat hence they may not transfer all of knowledge for new comers Quang Huy: Can you give me an example the difficulties that salesforce may concern if they are lack of training Mrs Hong: There are a lot of things I will give you an example, for the all product types such as mobile, washing machine, refrigerator…, there are about brand names with providing nearly 15 models in total It is really hard for a salesperson to understand clearly all information as well as the specifications of them Therefore, they may face certain difficulties in promoting and persuading customers to buy the product Furthermore, to persuade workers to buy goods, sales forces often call and interact with workers during free time such as lunch or recess However, during this time period, most customers don't want 73 to be disturbed by call or consulting because it is relaxing time If they have skills, these problems will not have happened Furthermore, Soft skills are also important, as a salesperson, they must know how to open the story and direct the customer's interest into what's selling however, most salespeople not know these skills due to lack of training courses Quang Huy: So you think IQWL need more training for salesforce? Mrs Hong: (Smile) Of course In fact, there are training courses at IQWL but not much focus on the sales force, just basic training courses on how to become familiar with the services and products that IQWL offers Haven't gone deep into situation handling skills Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Mrs Hong: Of course You are welcome Quang Huy: Thank you very much! Interview with Mr Hai – Regional manager Quang Huy: Nice to meet you, thank you for taking the time to this interview Mr.Hai: I'm also very pleased to meet you, nice to an interview with you Quang Huy: Do you face difficult to make the payment claimed? And why? Mr.Hai: Of course, yes It is due to the budget is not consist with our activities It means that, I am person who directly in charge to work of IQWL However, I not participate to the process of setting budget so, how can in know it is proper with our current situations Quang Huy: Please tell me in more specific? Mr.Hai: For example, the most difficult to control relates to logistics cost because this cost depends on the oil price, the weight of goods, and distance from the warehouse to workers’ houses Therefore, a fixed budget allocated from headquarter really make me difficult for me balance the cash flow follow the approval budget Quang Huy: About the revenue, any difficult in selling product? And what is it? 74 Mr.Hai: The problems at the salespeople, they are lack of knowledge and sometimes they are not follow the sale procedure such as increasing the instalment which lead the increase in financial cost Quang Huy: Could you give me clear explanation about the lack of knowledge of salesforce Mr Hai: Sales also affected by regional characteristics, environmental patterns, and local characteristics all influence shopping habits Due to the virtues of frugality and hard work the workers in the Middle of Vietnam not like to purchase washing machine while as a result of the cold weather and long winter, the workers in the North of Vietnam not like to purchase air conditioner Quang Huy: When you have the new comers, what is the method that you use to training/guide them? Mr Hai: When there is a new employee in, I will arrange a long-term employee to tutor, guide, and instruct the new employee besides introducing the job The training time is about 2-3 days, after that, the newcomer starts their jobs and if they have any questions or are stuck, they can ask their long-time colleagues for guidance Quang Huy: Anything you want to share? Mr Hai: I think that if new comers have better training about knowledge and skills, they will bring a lot of benefit to IQWL in both of economics and reputation because they are the person who directly connects the company with the customer Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Mr Hai: Of course You are welcome Quang Huy: Thank you very much! Interview with Ms Thao – Telesales Quang Huy: Nice to meet you, thank you for taking the time to this interview Ms.Thao: I'm also very pleased to meet you, nice to an interview with you Quang Huy: How long you have sales experience? and how long you work at IQWL? Ms.Thao: I have years in sales experiences and that is also the time I work for IQWL 75 Quang Huy: When beginning working at IQWL, where you get experiences for job? And How? Ms.Thao: At that point, most of the experience I learned came from long-time staff When I first started working, they took some time to guide and train me After long time working, I also get experience by myself Quang Huy: As the telesales, what is the difficult to you? Ms.Thao: In some cases, I make phone calls to persuade the client, but this client was referred by another telesales or a field sales representative Quang Huy: So there is no allocation for telesales and field sales? Ms.Thao: Yes Allocating job distribution based solely on team members' skills, rather than the company's need to efficiently respond to volume Multiple team sales may be assigned to a single customer data file or vice versa, there is one customer data file that does not deliver to the sale team Quang Huy: So what you in that case? Ms Thao: I try to explain again that IQWL provides variety of product so them can choose a nother and cooperate with field sales who respond this customer to support her/him Quang Huy: Any other difficulties? Ms Thao: As telesales, I only contact customers during their break time because the working time, worker cannot use their phones For customers, this is time for relaxing or for their family hence it is difficult for me to convince customers Furthermore, talking with the client via phone without face-to-face is really difficult, it requires me to need a lot of skills and knowledge to utilize the time and transfer all product's information in a short time Quang Huy: Where you have that skills? Ms Thao: (Smile) of course, during my working time And it must be a long time because I have to learn on my own, put in the position of the customer to understand their feelings, based on that to have a delicate treatment Quang Huy: Does IQWL provide training courses skills for you? Is it valuable? 76 Ms Thao: IQWL provide the training courses, but they are just basic to instruct me about the new products and services launch Quang Huy: Do you think you should have training course at IQWL? Ms Thao: Definitely yes Because training can provide me more valuable skills and knowledge by exchange and discuss stuck during working time, furthermore, during training time I can create more relationship with my colleagues who may be my partner later But the training time must be suitable for all employees (smile again) Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Ms Thao: Of course You are welcome Quang Huy: Thank you very much! Interview with Ms Trang – Field sales Quang Huy: Nice to meet you, thank you for taking the time to this interview Ms Trang: I'm also very pleased to meet you, nice to an interview with you Quang Huy: How long you have sales experience? and how long you work at IQWL? Ms.Trang: I have years in sales experiences including year working for IQWL Quang Huy: When beginning working at IQWL, where you get experiences for job? And How? Ms.Trang: At that time, when joining in the IQWL, I got experiences based on the long-time staff, they spent some days to guide me while still doing their tasks During the time of working, I also get experiences by myself Quang Huy: As the field sales, what is the difficult to you? Ms.Trang: I can only reach clients during lunchtime and when I leave the company to go home, so I need to take advantage of this time to convince the client Moreover, when workers need to buy products such as televisions, they just say they need to buy televisions without knowing all about their needs and features of the television, so I need to explain in detail, the ratio elaborate each category for them to understand It takes a lot of time Quang Huy: Do you remember all features of these products? 77 Ms.Trang: (Smile) In fact, I don’t, because there are variety kinds of products with multiple features, so sometime I used catalogue to explain to them Quang Huy: Any difficult to share? Ms Trang: Yes, in field sales I usually contact with a lot of workers but It’s really hard for me to start the conversation So I have to make full use of all my communication and situational skills to be able to get to know, start a conversation and convince workers to buy my products Quang Huy: Does IQWL provide training courses skills for you? Is it valuable? Ms Trang: IQWL provide the training courses, but they are just basic to instruct me about the new products and services launch Quang Huy: Do you think you should have more training course at IQWL? Ms Trang: Why not People cannot know everything because knowledge is limitless Furthermore, the training will teach me new ways to approach customers in addition to the one I am currently using It is really useful for me Besides that, through training I can exchange knowledge and making friends with other colleagues Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Ms Trang: Of course You are welcome Quang Huy: Thank you very much! Interview with Ms Tu – New sales employees Quang Huy: Nice to meet you, thank you for taking the time to this interview Ms.Tu: I'm also very pleased to meet you, nice to an interview with you Quang Huy: How long you have sales experience? and how long you work at IQWL? Ms.Tu: I just work at IQWL about months Quang Huy: How can you start your job at IQWL? Ms Tu: I participate in the basic training with introduce to me about the services and the products that IQWL provides A long-time employee will tutor me and impart the necessary skills, experience and knowledge to me within 1-2 days, then I can start work Quang Huy: Any difficulties that you meet? 78 Ms Tu: Yes, sometimes I think that although it is the practical experience drawn from the previous person, in some cases I cannot apply it, it is not suitable for me For example, when I meet older clients, I have to talk about my children and family from time to time to make them feel that I am sharing and understood them, but I'm not married so I can't get experience about parenting to chat with clients So I need a different way to approach them Quang Huy: Did you share your thought with the upper managers? And what they think? Ms Tu: I also said that I would like to have a proper training session so that I can apply knowledge and skills in sales techniques to my work They said that my thinking was reasonable and they will consider further Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Ms Tu: Of course You are welcome Quang Huy: Thank you very much! Interview with Mrs Hanh – Head of HR Quang Huy: Nice to meet you, thank you for taking the time to this interview Mrs Hanh: I'm also very pleased to meet you, nice to an interview with you Quang Huy: What is the training courses that HR provide? Mrs Hanh: We provide the basis training course For the extra, we provide the training courses base on the requirement of the other departments Quang Huy: Is the any professional HR training division in your department? Mrs Hanh: According to the structure of org chart, there is, but actually, there is a shortage of people who can perform this role Quang Huy: What you think that some employees said there is lack of professional training courses in IQWL? Mrs Hanh: They may or may not be right It is true that the human resources department currently lacks a professional training team to be able to research and capture the information that needs to be trained by other departments It's not true because if other departments have training demand, they have to raise their voice and we will find and design the right one for them 79 Quang Huy: So you think that the HR department needs a professional training team to catch up on the training course for IQWL? Mrs Hanh: Yes, because that is also the role of the human resources department, moreover, this team will research and propose the direction of IQWL development in terms of training goals and training methods They also evaluate employee performance and offer improvement plans and much more related work Quang Huy: So now, what you to improve the training courses? Mrs Hanh: I will be proactive to ask each department the demand and also, finding the relevant course to suggest them Quang Huy: And then? Mrs Hanh: (Smile) I will consider and discussion with BOD about the professional training team Quang Huy: That’s all today However, I could require further insight later May I continue later with you? Ms Tu: Of course You are welcome Quang Huy: Thank you very much! 9.2.6 Transcript for the group interview with the open – end question Why you give the potential causes such as Lack of professional HR in the training department is the highest score? Mrs Hong: In fact, our salesforce really needs the training course for them to improve and update their skill, hence the lack of professional HR in the training team which can respond for the training courses has the most affect Because with their expertise they can find the right training solutions for IQWL sales force And without professional training team, the other causes are meaningless Mr Hoang: Every year, IQWL spends an amount of money on training and training, but without a professional training team that can things like planning, training time, and funding, I cannot know what is exactly budget for approving budget can So there is a professional training team so the other causes can be solved Mrs Hanh: I agree that without a professional training team can lead to a problem such as unprofessional trained salesforce because the HR training team plays an important 80 role in helping me detect shortcomings in human resource management as well as strengthen the capacity and skills of employees It affects other causes since there is an HR training team, the remaining causes will be solved 9.2.7 Survey customer satisfaction (provide by IQWL JSC) Please indicate your gender Male Female Other Where you leave? a Northern of Vietnam b Middle of Vietnam c Southern of Vietnam What is your age? a From 18-24 years’ old b From 25-34 years’ old c From 35-54 years’ old How did you get introduced to IQWL? a Product brochure b IQWL Centre c Labour Union d Colleague What are products have you experienced with IQWL? a Mobile phone, TV, Latop b Washing machine c Air conditioner/steam fan d House-ware/furniture 6.How did you place your order during your last transaction with IQQ? a Directly sales staff b Sales - Call centre staff guided me c I contact IQWL by myself 7.Are the numbers of options within the goods category sufficient? a Yes b No Are the prices of the goods reasonable? a Yes b No Upon delivery of the goods, was the product the same as compared to the product description given? a Yes b No 81 10 Were the goods delivered within the period specified at the time of transaction? a Yes b No 11 If no, by how many days was the delivery delayed? a 1-2 days b – days c to 10 days d Beyond 10 days e N/A 12 What did you like about IQWL? a Pricing b Quick delivery c After sales service d Transparency e All of the above 13 For what reason would you choose IQWL over any other financier? a Promotion/discounts b Product pricing, c Convenience, d Easy to practice 14 What type of promotion attracts you the most? a Free gifts, b Product Discount, c Others Please specify 15 Would you recommend using IQWL to your peers? a Yes b No 16 Why you rate it this score? a Enthusiastic sales staff b Quick/ on time Delivery c Good quality product d Quick process 17 Which statement of satisfaction is true to you? a Flexible amount paid each month b Convenient payment c Clear information d Enthusiastic sales staff 18 Which statement of dissatisfaction is true to you? a Concerned of wrongly-charged amount b Sometime unclear information due to too multiple products c Late delivery d Unenthusiastic sales staff 82 19 What would you give the services of IQWL out of 10? a 1-5 b 6-8 c 9-10 20 What you think that IQWL should improve? a Should delivery on time and quick b Offer more products c Should improve after sales service d Clear instructions and informaion e Offer more promotion 9.2.8 Survey customer satisfaction answer (provide by IQWL JSC) (*) Due to the protection information data, IQWL just provides some answer’s results How did you get introduced to IQWL 51% 42% 39% 45% 42% 40% 38% 52% 51% 51% 48% 47% 43% 41% 41% 36% 16% 4% 7% Male 4% 7% Female 12% 9% 5% North Product brochure 2% 4% Middle IQWL Centre 3% South Labour Union 4% 4% 18-24 Colleague 7% 2% 3% 25-34 35-60 83 What are products have you experienced with IQWL? 62% 58% 55% 55% 53% 45% 38% 28%28% 26% 24% 21% 17% 17% 10% Male 9% Female North Mobile phone, TV, Latop 26% 21% 16% 14% 6% 32% 28% 26% 25% 15% 10% 8% 6% 10% 7% 4% Middle South Washing machine 18-24 Air conditioner/steam fan 25-34 35-60 House-ware/furniture Which statement of dissatisfaction is true to you? 41% 39% 32% 35% 40% 34% 34% 32% 31% 31% 30% 38% 35% 34% 36% 24% 20% 18% 15% Male 17% 14% Female 18% 15% 16% 13% 12% 12% North Middle South 18-24 Concerned of wrongly-charged amount Sometime unclear information due to too multiple products Late delivery Unenthusiastic sales staff 15% 15% 12% 25-34 26% 14% 35-60 ... CHI MINH CITY International School of Business BUI QUANG HUY INEFFECTIVE SALESFORCE IN IMPROVING QUALITY WORKER LIFE JOINT STOCK COMPANY (IQWL JSC) SUPERVISOR: Dr DOAN ANH TUAN Ho Chi Minh City... will also be interested and enhanced for IQWL's employees 1 INTRODUCTION 1.1 Company history In 2007, in the beginning, Improve The Quality of Worker? ??s Life Joint Stock Company (IQWL JSC) was established... Inflexibility in forecasting financial budgeting Based on the data analysis above, the ineffectiveness & Inflexibility in forecasting financial budgeting is concerned with increasing rapidly in the proportion
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