Vietnam Banking Industry: Customer Satisfaction Analysis

Vietnam Banking Industry: Customer Satisfaction Analysis It can be said that Vietnam is on the way of dramatic development and integration in global economic. Since Vietnam has officially become a member of the World Trade Organization (WTO), besides the advantages and opportunities, there have been still many challenges that Vietnam has to overcome. In recent years, Vietnameses banks have achieved many important achievements in innovation have grown larger and stronger than previous time. However, compared to the world, Vietnam banking industry is still small, modest, and inadequate. Undoubtedly, compared to 10 years ago, Vietnam banking industry has really been a remarkable growth. Firstly, banking system has mobilized and provided a large amount of capital to the economy, estimated about 16-18% of annual GDP (Vietnam Head Department Statistic 2008), nearly 50% of social capital. Credit growth has been increased during the year and in 2008 which was estimate to be approximate 24% that is 19% higher than in 2007. The banking system has also contributed to growth, the development, and economic stability in recent years. Secondly, Vietnams banking system had a comprehensive renovation. Many legal documents have been issued comprehensively, the policies about banking activities has been completed and consistent with international practice. Moreover, the discrimination between types of domestic credit institutions and the foreign ones has been gradually eliminated. Banks as well as credit institution have been autonomous and self-responsible. Competitiveness of credi t institutions has been enhanced therefore banking market has been developing safely and effectively. Thirdly, monetary policies have been renovated and operating under market principles with international practice. The indirect operating tools that manage monetary policies have been formed and developed. Interest rate policy and exchange rate flexibility have been adopted by the market mechanism. Credit policies have been expanded and made innovation in the direction of fairness and equality for all economic sectors, business, and all residents. 1.2 Customer satisfaction management in Vietnam Banking Industry Competitive trends in quality of banking product and services on financial and monetary markets increasingly urged Vietnameses banks to renew and continue to have effective customer policies and strategies in order to compete fairly with foreign banks. Thus, Vietnameses banks have ability to overcome the challenges that have been forecasted to be very fierce in coming time. Customer satisfaction management can be considered as an important point in cultural enterprise and cultural care, implementation of banks strategies towards customers in the context of globalization. Undoubtedly, currently when the difference in quality, design of banking services as well as the competitiveness of the products itself is no longer critical among banks, the determined factor is the quality of customer service. Aware of the important of increase customer satisfaction, Vietnameses banks have established customer satisfaction management in order to evaluate customer satisfaction on their products and services. Therefore, banks can improve their operations as well as consolidate their images in customers eyes, and banks can increase sales, market share, and position in the market. 2. Bank management studies on BIDV, Hochiminh City branch (HCMC) 2.1 Performance of BIDV, HCMC branch Bank for Investment and Development of Vietnam has a short name is BIDV, was established under the Conference No.177/TTg dated on 26/04/1957 of Prime Minister of Socialist Republic of Vietnam. HCMC branch which is one of the largest scale branches in BIDV system, has estimated assets VND 10,000 billion (BIDV annual reports). HCMC branch has high business performance with ROA ratio always above 1%. There are 313 staffs classified into 4 blocks these are credit, customer services, block of units, and internal management. Founded in 1977, HCMC branch is always pioneer branch and dynamic in BIDV system in development new products and services based on applying modern technology and customer-oriented. Recently, BIDV HCMC branch has been successful in the role of focal bank in arrangement of syndicated loans, co-financed investor in large scale projects. HCMC branchs activities in recent years have been customer-oriented, creating the best conditions for customers to access and use bankin g services more effectively. BIDV is one of four state-owned commercial banks so it is quite easy to understand why customers have high level of trust for bank. Based on the result of survey and research done recently to measure customer satisfaction, reveal that generally bank has been successful in bringing satisfaction to customers through the provision of products and services. The level of customer satisfaction varies from agree to fully agree. The measurement of customer satisfaction is based on the quality of services, number of products and services, and the continuity of using the services. The quality of services brings satisfaction to customers, they use the most services provide to them and they seem to be happier to use more BIDVs services. This result confirms the criteria activities cooperate and succeed that BIDV has done for years. Thus, the bank has been successful in bringing satisfaction to customers through the provision of products and services. However, this is also pressure for the bank f or better improvement what they have achieved. Therefore, the bank should promote further efforts to preserve and bring the highest satisfaction to customers. 2.2 Purpose of the study Nowadays, in the competitive environment, customers are crucial survival of the bank. The banks which are paid attention, interest as well as loyalty of customers, will capture market shares and develop faster. Business strategic direction to customers is becoming the most important strategies of banks. How to give customers the best satisfaction is always the problem that banks try their best to fulfill. Therefore, research customer satisfaction in the bank is an important work that has to be done regularly and continuously in order to meet their needs. Since then, they can serve customers better and make customers always be satisfied when using banks products and services. This study is not out of this purpose which aims to enhance customer satisfactions for BIDV as well as increase the quality of products and services supplied by BIDV. 2.3 Significant of the study The study presents the evaluation of customer satisfactions on products and services provided by BIDV HCMC branch. Thus, bank has a comprehensive glance on the products and services they are supplying to customers. Bank should focuses on business development strategies as well as the quality of products and services. Obviously, if the service quality does not meet customers demand, the customers will no longer to use it. From the evaluation of customer satisfactions, bank can realize clearly their strengths and weaknesses. From there, they continue to promote strengths and overcome weaknesses in order to improve the quality of services, increase customer satisfaction. 2.4 Limitation of the study The study has a positive contribution to the bank in understanding customers and identifying their position in the market, however the study still has some certain limitations as follows: The study focuses on group business customers therefore it cannot be the overview of the entire customers transactions in BIDV HCMC branch. The study only considers about the time used and the number of banks transactions, it does not find out all customer satisfaction in the connection with trading enterprises, financial potential and cultural factors. The study only focuses on evaluation of customer satisfaction of HCMC branchs services so it cannot assess on customers in the city and other locations as well as potential customers who are not using banking services. Based on these findings, this study can be improved with variety customer group, larger number of samples, wider research scale. 3. Model relevant to study 3.1 Introduction of Servqual model Managers in banking industry are under increasing pressure to demonstrate that their services are customer focused and that continuous performance improvement is being delivered. Given the financial and resources constrains under which banks must manage it is essential that customer satisfaction are properly met and measured and that from the customer satisfactions, any gaps in services quality are indentified. This information the assists a manager in identified cost effective ways of closing services quality gaps and of prioritizing which gaps to focus on a critical decision given scare resources. This study involves the use of Servqual model (Parasuraman, 1988) which is a popular model of quality research of services and the most common application in the marketing research. According to Parasuraman, the quality of services cannot be determined vaguely but it depends on sense of belonging to customers for such services and this perception is considered by many factors. Servqual model is built based on the evaluation of quality of services, which is the comparison between the expected value, expectation, and the value customers perceived. Servqual model considers two main aspects of services quality as a result services and the process of services which are studied through 5 criteria reliability, responsiveness, tangibles, assurance, and the empathy. Figure 3.1 SERVQUAL MODEL Reliability Responsiveness Customer satisfaction Services quality Tangibles Assurance Sympathy Sources: International Journal of Business and Management 3.2 Elements of Servqual Model 3.2.1 Reliability Reliability shows the ability to provide services accurately, on time, and credibly. This requires consistency in the implementation of services and respects commitments as well as keeps promises to customers. In the banking sector, this criterion is measured by customers through the following elements. The bank performs the services right from the first time. Banking services are implemented at the time they promise. Banking transactions are done correctly. Banks staffs are always ready to serve customers. There are always banks counselors at the table to help the customers. Banks statements are submitted regularly and promptly. 3.2.2 Responsiveness This criterion measures the ability to solve the problem fast, deal with customers complaint effectively and the willing to help customers as well as meet the customers requirements. In other words, responsiveness is the feedback from banks to what customers want. Banks staffs are available to assist customers. Bank provides services rapid, on time. Bank responses positively to customers requirements. Banks hotline for customer services is 24/24. Bank tries to solve problems for customers. 3.2.3 Tangibles Tangibles are the images of the facilities, equipment, machines, attitude of staffs, materials, manuals, and information systems of the bank. General speaking, anything that customers can see by eyes and feel by senses can impact on tangible. The bank has adequate facilities. Bank has modern equipment and machinery. Banks staffs look professional and dressed. Bank arranges the transaction counters, tables, and shelves scientifically and conveniently for customers. 3.2.4 Assurance This element creates credibility and trust for customers, which is considered through professional services, excellent technical knowledge, attitude courtesy, and good communication skills, so that customers can believe in the quality of banks services. Banks staffs serve customers politely, and courteously. Transaction documents are clear and understandable. Banks staffs always provide necessary services information for customers. Banks staffs answer customers questions clearly and accurately. 3.2.5. Sympathy Sympathy is the caring, consideration, and the best preparation for customers, so that they can feel as guests of the bank and are always welcome at any times, anywhere. Human factors are the core of this success and the more caring the bank gives to customers, the more customer understanding increases. The sympathy of banks staffs for their customers are expressed as follows: Banks staffs notices the needs of each customer. Customers do not have to queue for a long time to be served. The bank has convenience location for customers to have transactions. Banks ATM systems are modern and ease to use. Banks staffs treat customers kindly. 3.3 Summary and limitation of previous research and findings Through journals I have examined, research issues about customer satisfaction can be classified into 3 main categories including factors influence on customer satisfaction, the measurement of customer satisfaction, and the impact of customer satisfaction on business 3.3.1 Research about factors influence on customer satisfaction The research investigates the relationship between services quality, overall customer satisfaction, and behavioral intention across public and banks. The findings indicate that services quality is significant determinant of customer satisfaction in banking industry (Monica Bedi, 2010; M.Jun and S.Cai, 2010). However, different dimensions of services quality were found to be statistical significant across public and banks. The study helps banks to redefine their corporate image to one that is customer-oriented and driven by service quality. Research limitation concern the potential for the data inaccuracies due to item misinterpretation or predisposition to certain responses on the part of the participant does exist (Bedi, 2010). Similarly, the sampled data is one limitation which was collected from one organization (M.Jun and S.Cai 2010). Although, the purchasing department serves a wide range of internal customers and is involved in various purchasing activities, the dataset is limited by the potential lack of generalisability. 3.3.2 Research about the measurement of customer satisfaction The research provides method to measure customer satisfaction based on assessing customer perception of services quality in services and retailing organization. One of the most popular model is Servqual (Parasuraman, 1988) is based on the perception gap between the received quality and the expected services quality, and has been adopted for explaining consumer perception of services quality. In addition, the availability of customer satisfaction data from national indices has also facilitated the examination of the factors associated with aggregate level customer satisfaction (M.Ogikubo et al, 2009). Besides, the research points out the limitation of the Servqual is that the evaluation of services quality evaluated based on the expectation performance gap derived from Parasuraman 1988 is insufficient because much of the empirical research supported performance based measures of services quality (K.Ravichandran, 2010). 3.3.3 Research about the impact of customer satisfaction on business The research presents that customer satisfaction has an important impact on business which is determined factor in customer loyalty as well as customer retention (Harkiranpal S., 2006). Moreover, the research provides an examination of satisfaction-retention relationship, and the development of more comprehensive view of the customers quality perception (Hennig Thurau and Klee, 1997). Customer satisfaction positively affects an organizations profitability. Satisfied customers form the foundation of any successful business as customer satisfaction leads to repeat purchase, brand loyalty as well as positive word of mouth (Hoyer and MacInnis, 2001). 4. Methodology for study 4.1 Research design These terms quantitative and qualitative are used widely to differentiate both data collection techniques and data analysis procedures. Quantitative is predominantly used as a synonym for any data collection techniques or data analysis procedures that generates or uses numerical data. In contrast, qualitative is used predominantly as a synonym for any data collection techniques or data analysis procedures that generates or uses non numerical data. Three types of quantitative studies these include experimental approach, cross-sectional designs, and survey method. Because of limited time to complete collecting primary data, survey is an optimal method to collect research information. When using survey will give more control over the research process and sampling is used it is possible to generate findings that are representative of the whole population at a lower cost than collecting the data for the whole population. 4.2 Data collection Data can be obtained from primary or secondary sources. Data can be collected in a variety of ways, in different settings and from different sources. Data collection methods include interviews, questionnaires, observation, and variety of other motivational techniques. Questionnaire is the best way to collect the data about customer satisfaction because making an appointment for personal interviews or telephone interviews is difficult, even though impossible. Beside the personal information and customer characteristic (open questions), questionnaire is designed including 33 properties (closed questions) that build up the characteristic of banking services. It is presented on scale from 1 to 7 points (from lowest satisfaction to highest satisfaction about the components of banking service). It will help quantify the opinion of customers who were invested and use the questionnaire to verify and analyze the multivariable date in the valuable the satisfaction of customers later. The custo mers are also suggested to evaluate their own overall satisfaction in last question by giving the scores. 4.3 Data analysis After collecting all the data, the process of analysis begins. To summarize and rearrange the data, several interrelated procedure are performed during the data analysis stage. For quantitative data analysis, statistical tools of Microsoft excel and analytical software SPSS are used for data input and analysis. The statistic results were presented by graphical form with detail description. 5. Conclusion Customer satisfaction is not only vital factor but also the target that all banks want to achieve. Along with the increasingly strong competitiveness in banking industry, learning about customer needs as well as the factors affecting customer satisfaction has become essential. Therefore, this study is useful in proposed policies, development strategies of banks. In the service sector in general and banking sector in particular, the role of the meeting customer needs has an important implication that derives from the interaction between banks and customers as well as the positive impact that banks have. More specifically, if banks bring their customers the high customer satisfaction, customers will continue to use their services, support new banks products or services, introduce the bank to other partners, and become loyal customers. From there, they are contributing to increase sales, market share, and position in the market that are the targets any bank wants to achieve. This study researches customer satisfaction with the products and services that banks provide to customers. This thesis is presented through the survey of customer satisfaction. Survey results are reliable input source to marketing strategies and opportunities to help banks better understand customer needs, customers evaluation of quality of banks services. Therefore, banks can improve their operations and enhance customer satisfaction more effectively.

Critical Reflection of Design Process

The Critical Reflection of the design process iphone Application This document describes the critical reflection of designing the mobile application and describing the software interface in terms of learnability, memorability, effectiveness, efficiency and satisfaction CTS Griffith University 11/6/2012 The Critical Reflection of the design process iphone Application This document describes the critical reflection of designing the mobile application and describing the software interface in terms of learnability, memorability, effectiveness, efficiency and satisfactionCTS Griffith University 11/6/2012 Critical Reflection of the design process Issues I have had issues with the development process were I had coding errors that needed to be resolved and spent some time fixing coding errors. Getting my program up and running in the iOS simulator was very difficult. Sometimes the emulator wouldn’t load properly and other times Titanium wouldn’t recognise that the emulator had successfully launched, I had to stop the emulator and start again and ends up taking time to launch.The program has taken a great deal of time to load. Outcome I was very satisfied with the outcome the project, the project went very well, finally had the program loaded on the emulator and had it successfully launched. Titanium is great for rapid prototyping. One thing I would differently though that would be an improvement is to add more functionality so that mathematical calculations that are not included in the current application can be performed. I will in the future build for Android and eventually the blackberry.I have acquired many skills and knowledge doing this project. I have Learnt how to develop inside of appcelerator titanium to build cross platform mobile applications, how to load the program on the emulator and have the capability and skills that from the knowledge I gained using the Titanium appcelerator to do future projects with it. I have learnt how to code the pr ogram, JavaScript is a language many developers know and enables myself as a qualified web developer to get into mobile app development.I have also learnt how to develop design ideas for the application to be suitable to be used outside, easy to use, address usability issues and make it look attractive. Software interface – learnability, memorability, effectiveness, efficiency and satisfaction The iPhone calculator is a simple calculator with minimal functions. The iPhone / iPad calculator has been designed for simplicity, easy to use, to be user friendly and usability.Designed for a wide range of users, the iPhone / iPad calculator is primarily designed for students as it is the student’s major tool for performing calculations; this calculator is designed to improve the speed and accuracy of the student’s computational skills and be used. The iPhones calculator works like a pocket calculator. The iPhone’s calculator feature on the Home screen, by clickin g the calculator icon. The calculator function is used to perform a variety of different mathematical operations. The iPhone calculator works by adding, subtracting, multiplying, and dividing.Numbers and symbols are large and easy to see and has large separated keys for increased accuracy It is also designed so that you have an efficient finger placement approach when selecting the keys so that you can perform calculations in a minimum amount of time. The iPhone calculator also has large colourful buttons and high contrast color schemes that will allow you to see the screen well outside. As most people nowadays owns a phone, the calculator function would come very handy to use when needed to perform calculations.It can be used anywhere at home, shop, work or travelling The calculator is very effective that allows the user to do a simple calculation with ease, enter in a number, then an operation, then another number, and then the = button. The c button will clear the current operati on. The calculator will perform operations in standard mathematical order. So 5+2? 2 will return 9. This is because multiplication and division are have higher precedence than addition and subtraction. .

Assignment †OUMH1203 English for Written Communication- SEP 13 Essay

ASSIGNMENT SUBMISSION AND ASSESSMENT ______________________________________________________________________________ OUMH1203 ENGLISH FOR WRITTEN COMMUNICATION SEPTEMBER 2013 ______________________________________________________________________________ INSTRUCTIONS TO STUDENTS 1.This assignment contains TWO (2) questions that is set in the language of the printed module for the course. 2. Your assignment should be typed using 12 point Times New Roman font and 1.5 line spacing. 3.Your assignment should be between 500 to 800 words excluding references. The number of words should be shown at the end of your assignment. Do not copy the assignment question and instructions to your answer. 4. You must submit your assignment BY MAIL to fes.assignments@villacollege.edu.mv by 18:00 hrs. You are advised to keep a copy of your submitted assignment for personal reference. 5.You can submit your assignment ONCE only in a SINGLE file. 6. Your first assignment must be submitted on 27th October and the second assignment on 10th November. Submission after 1800 hrs on this date will be accepted as LATE SUBMISSION. 10% of your assignment marks will be deducted for each delayed day. 7. You should not copy another person’s assignment. You should also not plagiarise another person’s work as your own. EVALUATION This assignment accounts for 50 % of the marks for the course mentioned and shall be assessed based on the Rubrics or Answer Scheme. You would be informed of the assignment mark before the Final Semester Examination commences. PLAGIARISM : MARKS DEDUCTION Warning: The submitted assignment will undergo a similarity check. If plagiarism is detected, marks would be deducted as follows: Assignments with 10 – 30 % overlap with others: 20% deduction from the total marks scored. Assignments with more than 30% overlap with others: Zero mark would be given. ASSIGNMENT QUESTION This assignment consists of TWO parts. PART A: IN CLASS ASSESSMENT_ (INDIVIDUAL TASK-30%) From the list of topics below you need to choose any THREE topics and this must be done in class during your tutorial sessions. Each of these essays carries 10% of the total marks. Each essay should be approximately 500-800 words long. a) In many countries, old people are sent to live in old-age homes where there are nurses to look after them. Sometimes governments pay for this care. Who should be responsible for our old people? Use specific reasons and details to explain your choice. b) The Expectancy Theory of Motivation by Victor H. Vroom suggests that an individual’s perceived view of an outcome will determine the level of motivation. How can this theory be applied in the Maldivian classrooms to improve the performance of secondary students? c) Though not out of choice, the current situation requires students to join evening classes to complete their tertiary education at colleges and universities. What are the advantages and disadvantages of attending classes in the evening? d) Co-education is the current system followed in Maldivian schools. While some think students study better in single-sex schools, others believe they need to be mixed for various reasons. In your opinion, what is the best system for the Maldivian schools? Justify your opinion with specific reasons and details. PART B: GROUP TASK (20%) You need to complete these TWO tasks in groups of 3 or 4. Work in groups of three or four people. Choose TWO of the topics given below. Write a research essay on each of your chosen topic. Your research essay carries 10% of the total marks each. Each essay must be between 500 to 800 words long. . a) International research has found numerous benefits which apprenticeship brings for those apprentices who complete their programme. How important is a national level apprenticeship programme for the Maldivians? Write a report on this including recommendations to improve the current situation. b) The customs and traditions of a country help to maintain its uniqueness. It is believed that many customs and traditions of the Maldivians are dying out due to globalisation. Write a report based on the impact of globalisation on the Maldivian customs and traditions. c) The number of motor vehicles imported to the Maldives is increasing at an alarming rate. Write a report based on the potential transportation problems  of Male’ in 15 years’ time, and provide suggestions to overcome them. d) Many believe heavy exposure to TV carnage during childhood leads to imitation of what they see on TV, acceptance of violence as normal, desensitization to real people’s suffering and arousal by images on television, triggering violent responses. Write a report on how critical this issue is in the Maldives? Include recommendations to overcome this problem in the future. Thank you and Good luck! ____________________________________________________________________________ END OF PAGE

Subitizing A Skill to Build Math Fluency

Subitizing is a hot topic in math education circles. Subitizing means â€Å"instantly seeing how many.† Math educators have discovered that the ability to see numbers in patterns is the foundation of strong number sense. The ability to visualize and understand numbers and numeration supports operational fluency and the ability to add and subtract mentally, to see relationships between numbers, and to see patterns. Two Forms of Subitizing Subitizing comes in two forms: perceptual subitizing and conceptual subitizing. The first is the simplest, and even animals are able to do it. The second is a more advanced skill built upon the first. Perceptual subitizing is a skill that even small children have: the ability to see perhaps two or three objects and immediately know the number. In order to transfer this skill, a child needs to be able to â€Å"unitize† the set and pair it with a number name. Still, this skill is often exhibited in children who recognize the number on a die, such as four or five. To build perceptual subitizing, you want to give students a lot of exposure to visual stimuli, such as patterns for three, four, and five or ten frames to recognize numbers like 5 and others. Conceptual Subitizing is the ability to pair and see sets of numbers within larger sets, such as seeing two fours in the eight of a domino. It is also using strategies such as counting on or counting down (as in subtraction). Children may only be able to subitize small numbers, but in time, they will be able to apply their understanding to constructing more elaborate patterns. Activities to Build Subitizing Skills Pattern Cards Make cards with different patterns of dots and show them to your students. You might try an â€Å"around the world† drill (pair up students and give it to the one who answers first.) Also, try domino or die patterns, and then pair them, like the five and a two so your students see the seven. Quick Image Arrays Give students a number of manipulatives and then have them arrange them in numbers and compare patterns: diamonds for fours, boxes for sixes, etc. Concentration Games ï » ¿Have students match numbers that are the same but in different patterns, or create a number of cards that are the same number but different patterns, and one that is different. Ask students to identify the one that doesn’t belong.Give each child a set of cards one to ten in different patterns and have them spread them on their desks. Call out a number and see who can find the number on their desk the most quickly.Challenge students to name a number one more than that on the dots on the card or one less. As they build skills, make the number two more and two less, and so on.Use the cards as part of classroom learning centers. Ten Frames and Conceptualizing Addition Ten frames are rectangles made of two rows of five boxes. Numbers less than ten are shown as rows of dots in the boxes: 8 is a row of five and three (leaving two empty boxes). These can help students create visual ways of learning and picturing sums larger than 10 (i.e., 8 plus 4 is 8 2 (10) 2, or 12.) These can be done as images, or done as in Addison Wesley-Scott Foresman’s Envision Math, in a printed frame, where your students can draw the circles. Sources Conklin, M. It Makes Sense: Using Ten Frames to Build Number Sense. Math Solutions, 2010, Sausalito, CA.Parrish, S. Number Talks: Helping Children Build Mental Math and Computation Strategies, Grades K-5, Math Solutions, 2010, Sausalito, CA.