Tài liệu Improvement the efficiency of postal finance service of the vietnam post

ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- TRẦN ĐỨC TRUNG IMPROVEMENT THE EFFICIENCY OF POSTAL FINANCE SERVICE OF THE VIETNAM POST NÂNG CAO HIỆU QUẢ KINH DOANH DỊCH VỤ TÀI CHÍNH BƯU CHÍNH CỦA TỔNG CÔNG TY BƯU ĐIỆN VIỆT NAM LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH Hà Nội - 2017 ĐẠI HỌC QUỐC GIA HÀ NỘI KHOA QUẢN TRỊ VÀ KINH DOANH --------------------- TRẦN ĐỨC TRUNG IMPROVEMENT THE EFFICIENCY OF POSTAL FINANCE SERVICE OF THE VIETNAM POST NÂNG CAO HIỆU QUẢ KINH DOANH DỊCH VỤ TÀI CHÍNH BƯU CHÍNH CỦA TỔNG CÔNG TY BƯU ĐIỆN VIỆT NAM Chuyên ngành: Quản trị kinh doanh Mã số: 60 34 01 02 LUẬN VĂN THẠC SĨ QUẢN TRỊ KINH DOANH NGƯỜI HƯỚNG DẪN KHOA HỌC: TS. TRỊNH NGỌC HUY Hà Nội - 2017 DECLARATION The author confirms that the research outcome in the thesis is the result of author’s independent work during study and research period and it is not yet published in other’s research and article. The other’s research result and documentation (extraction, table, figure, formula, and other document) used in the thesis are cited properly and the permission (if required) is given. The author is responsible in front of the Thesis Assessment Committee, Hanoi School of Business and Management, and the laws for above-mentioned declaration. Date: October, 18, 2017 i ACKNOWLEDGEMENT I have gained huge knowledge, skill and insights from my MBA course. The course raises my capacity of administration and management up to the next level. I am now very confident in my position of management. I would like to extend my sincerest thanks and appreciation to all those who have made this Thesis to be possible. I woud like to express my great gratitude to my supervisor Trinh Ngoc Huy for him useful comments, remarks and engagement during my process of doing this master thesis. Sincere thanks are extended to the Faculty of International Training Vietnam National University, Hanoi for equipping me with huge knowledge and skills through various interesting and practical subjects. I also would like to thanks my classmates for their friendship and reciprocal encouragement to make our class time to be unforgettable time Lastly, I would like to give my great thanks to my husband, my kids, and my family who always standby me during the past two years and encourages me to keep moving from the beginning of my study. ii SUMMARY 1. Summary of the results On the basis of synthesizing theoretical issues on improving the efficiency of postal finance service business, the author applied the research on this activity at Vietnam Post. The research result shows that despite positive performance in production and business activities such as in creasing general business and financial services business of the Corporation in particular; The workforce is constantly increasing in quantity and quality towards rejuvenation; The technology system has been synchronously invested; Marketing activities are focused on the annual investment budget increasing gradually ...; However, the business activities of the Corporation still have many constraints to overcome: the number of older workers still occupy a large proportion; The level of staff at the Corporation is not commensurate with the development of the sector; The number of laborers working on a seasonal basis and signing contracts mainly occupy the contract; The software, information system developed still remain a lot of inconsistencies in the hardware environment, etc. The research results also show the main cause of the shortcomings in the business activities of the Corporation which are Service quality is not high; The number of products and services is not high, Human resources are low; Marketing activity has not been promoted. The proposed solutions by the author are: Diversify products, improving the quality of human resources, marketing promotion, product quality improving. 2. Applicability in practice In the increasingly competitive economic environment, improving business efficiency is always a goal that businesses aim to maintain their position in the market. The more businesses want to expand their market share, the more sustainable they must improve their business performance. This is also the reason that the research problem of improving the business efficiency in general and postal financial enterprises in particular becomes an urgent issue, suitable for development needs, competition of the business. iii In addition, the postal finance service is a new type of service that has been expanded by Vietnam Post and Telecommunications Corporation, but it is also the most successful service of the Corporation. However, over the past time, the postal finance business of Vietnam Post Corporation is still very limited, separated, small scale, poor financial services. Therefore, with the research results of the author, we hope to contribute to orienting the improvement of the Corporation's business performance. With objective and reliable results that the author has made, I believe that the recommendations made by the author will be highly practical, suitable for the corporation's financial services business. This will be a good time to improve Vietnam Post's competitiveness and expand market share in the near future. 3. Further research orientations If there are further research conditions, the author hopes to undertake further research on improving business performance. The author will conduct further research on the business situation of other postal financial services to draw out the strengths and weaknesses of these enterprises. On that basis, we can measures and improve the efficiency of business operations of Vietnam Post. In addition, if there are further research conditions, the author will conduct a feasibility assessment of the proposed solutions to select the most suitable solution for Vietnam Post. iv LIST OF ACRONYMS 1 VNPost Vietnam Post Corporation 2 VNPT Vietnam Posts and Telecommunications Group 3 PF Postal finance 4 PTI Post Insurance Joint Stock Corporation 5 WTO 6 EU 7 APEC 8 ASEAN Association of Southeast Asian Nations 9 GATS General Agreement on Trade in Services 10 GDP Gross domestic product of goods and services 11 QD Decision 12 TTg Prime minister 13 GP License 14 NSI National Savings Organization 15 BCVT Post and Telecommunication 16 BTTTT Ministry of Information and Communication 17 AVG World Trade Organization European Union Asia-Pacific Economic Cooperation Forum An Vien Television Equipment v TABLE OF CONTENTS DECLARATION ......................................................................................................... i ACKNOWLEDGEMENT .......................................................................................... ii SUMMARY............................................................................................................... iii TABLE OF CONTENTS .......................................................................................... vi LIST OF TABLES .................................................................................................... ix LIST OF FIGURES AND CHARTS ......................................................................... x INTRODUCE ............................................................................................................. 1 CHAPTER 1: THE RATIONALE FOR POSTAL FINANCIAL SERVICES AND IMPROVING THE EFFICIENCY OF POSTAL FINANCIAL SERVICES ............ 7 1.1 Overview of postal financial services .............................................................. 7 1.1.1 Basic concepts ........................................................................................ 7 1.1.2 Characteristics of postal financial services ........................................... 9 1.1.3 Types of postal financial services ......................................................... 11 1.1.4 The role of postal financial services in the economy ........................... 14 1.2 Improving the business efficiency of postal financial services ..................... 16 1.2.1 Concepts ............................................................................................... 16 1.2.2 The need to improve the efficiency of postal financial services business ....................................................................................................................... 17 1.2.3 Improving business efficiency of postal financial services .................. 18 1.2.4. Criteria for assessing the effectiveness of postal financial business... 24 1.2.5 Factors affect the efficiency of postal financial services business ....... 27 1.3 Experience of improving the efficiency of the financial services business of some company, the post and Telecommunications Corporation in the world. Lesson for Vietnam.. ............................................................................................ 31 1.3.1 Experience of China Post ..................................................................... 31 1.3.2 Experience of Japan Post ..................................................................... 32 1.3.3 Experience of India Post...................................................................... 33 1.3.4. Lesson for VietNam ............................................................................. 33 vi CHAPTER 2: THE SITUATION OF IMPROVING THE EFFICIENCY OF POSTAL FINANCIAL SERVICES BUSINESS IN VIETNAM POST CORPORATION ...................................................................................................... 35 2.1 Profile of Vietnam Post Corporation ............................................................. 35 2.1.1 Introduction ofVietnam Post Corporation............................................ 35 2.1.2 Business lines ........................................................................................ 37 2.1.3 The The organization of Vnpost. .......................................................... 38 2.1.4 Results of postal financial services business at Vietnam Post Corporation ................................................................................................... 41 2.2 To improve the efficiency of postal financial services business at the Vietnam Post Office ............................................................................................................ 43 2.2.1 Human resource ................................................................................... 43 2.2.2 The information system ......................................................................... 47 2.2.3 Marketing activity ................................................................................. 49 2.2.4 Technology ............................................................................................ 52 2.3 Analysis of business efficiency of postal financial services in the period from 2013 to 2015 ......................................................................................................... 54 2.3.1 Efficiency of human resources usage ................................................... 54 2.3.2 Efficiency of capital usage .................................................................... 56 2.3.3 Overall efficiency .................................................................................. 57 2.3.4 Social – economic efficiency................................................................. 59 2.4 Evaluation activities to improve the efficiency of postal financial service business at Vietnam Post ...................................................................................... 60 2.4.1 Performance ......................................................................................... 60 2.4.2 Limitations and reasons........................................................................ 62 CHAPTER 3: PROPOSED SOLUTIONS TO IMPROVE THE EFFICIENCY OF POSTAL FINANCIAL SERVICES BUSINESS AT VIETNAM POST ................ 64 3.1 Business orientation and direction development of Vietnam Post in the period from 2016 to 2020 ................................................................................................ 64 3.1.1 Business orientation ............................................................................. 64 3.1.2 Direction development .......................................................................... 65 vii 3.2 Proposed solutions ......................................................................................... 66 3.2.1 The basis of proposed solution ............................................................. 66 3.2.2 Diversified service products to increase sales ..................................... 67 3.3 Recommendations .......................................................................................... 78 3.3.1 Recommendations to the State .............................................................. 78 3.3.2 Recommendations to the Ministry of Finance ...................................... 79 CONCLUSIONS, LIMITATIONS AND SIGNIFICATIONS OF THE STUDY ... 80 REFERENCES ......................................................................................................... 82 QUESTIONARE ...................................................................................................... 83 viii LIST OF TABLES Table 2.1 Results of financial services business of the General Post Office in the period from 2013 to 2015 ......................................................................................... 41 Table 2.2 Human resources in Vietnam Post Corporation in the period from 2013 to 2015 .......................................................................................................................... 44 Table 2.3: The content of personnel training at Viet Nam Post in the period from 2013 to 2015 ............................................................................................................. 46 Table 2.4: The information system at Viet Nam Post in the period from 2013 to 2015 .... 48 Table 2.5: Marketing activity carried out at Vietnam Post in the period from 2013 to 2015 .......................................................................................................................... 50 Table 2.6: The marketing performance at Vietnam Post in the period from 2013 to 2015 .......................................................................................................................... 52 Table 2.7 Technology applied at Vietnam Post in the period from 2013 to 2015 ... 53 Table 2.8: The efficiency of human resource usage in the postal financial services business at Vietnam Post in the period from 2013 to 2015 ...................................... 55 Table 2.9 Efficiency of capital usage at Viet Nam Post in the period from 2013 to 2015 .......................................................................................................................... 56 Table 2.10 Overall efficiency at Vietnam Post in the period from 2013 to 2015 .... 58 Table 2.11 Social – economic efficiency at Vietnam Post in the period from 2013 to 2015 .......................................................................................................................... 60 Table 3.1: The basis for proposing solutions to improve the efficiency of postal financial services business ........................................................................................ 66 ix LIST OF FIGURES AND CHARTS Diagrams 1.1: Specification of Postal financial service ............................................. 9 Diagrams 2.1: The organization of Vietnam Post .................................................... 38 x INTRODUCE 1. Statement of Problem Postal and telecommunications associated with information technology is the major economic sector, is an important infrastructure in the industrial modernization of the country, construction and defense of the Party and the State.. From January 1, 2008, Vietnam Posts Corporation (VNPost) officially separated to Vietnam Telecommunications Corporation. Vietnam Post Corporation is a member of State corporation which is established and allocated capital through the corporation and is now transferred to the Ministry of Information and Communication. In addition to securing the provision of public postal services and other public postal services, multisectoral businesses are permitted in which postal services are the principal business. Postal is an industry that society always needs is a social service. So with the strong development of the current economy, the demand for material and spiritual life of the people will also increase. However, the separation of post office Vietnam will create some shortage and difficulties. Therefore, the Vietnam Post Office wants to win first and foremost the preparation for the strength to increase the competitiveness of the enterprise, affirming its position by raising capital, updating modern technology, International cooperation to learn experience in exploiting and developing services, reviewing human resources ... At the same time the form of economic cooperation must be diversified and expanded to many fields to create the Vietnam Post Office Male has an independent working environment to assert himself. At present, in addition to the core services - postal delivery (postal, public utility, express delivery ...), the Vietnam Post Corporation has expanded its postal financial services business, information technology telecommunication and some other services. In particularly, postal financial services have the most important role that can bring success and enhance the competitiveness of Vietnam Post Corporation in the future. Because the supply of services provides full and sufficient benefits to both the capital and the demand for capital as well as to the economy. Postal financial services business of corporate basically plays a complementary role for commercial banks. 1 However, over the past time, the postal finance business of the Vietnam Post has been very limited, respectively, small scale, not fully exploited the sole advantage which is the nationwide post office network, along with the application of information technology at the transaction points, with traditional relationships available to customers. On the other hand, the demand for postal financial services requires higher and higher of services's quality and quantity. Otherswise, the Postal Financial Services business also includes basic implementation steps such as trading other commodity trading services. Factors of product diversification, factors of human resource quality, selection of target markets and customers, marketing, sales force organization and partnerships with partners in provide products. Therefore, the Vietnam Post Office needs to conduct in-depth research and analysis on products, markets and service deployment in order to improve the competitiveness and efficiency of the provincial post offices. around the country. Based on that situation, author decided to select topics: "Improvement the efficiency of postal finance service of the Vietnam Post”. 2. Research overview In the past time, there has been a research work at home and abroad about the development or enhancement of efficiency and improvement of the quality of post and postal financial services with different scopes of research, Some of the highlights are: - Research by Nguyen Hoang Thong (2010) on "Improving business performance in Saigon Central Post Office in the period from 2015 to 2016". In the study, the author used a dialectical materialism method combining theory and practice. At the same time, based on the inevitable objective development of some socioeconomic issues to study macro and micro environment factors, internal environmental factors influence to the business performance of the Saigon Post Office. Following that, the author proposed some solutions to improve the efficiency of business operations at Saigon Post Office. However, since the author only used traditional methods to carry out research, the research also involved subjective opinions as well as the lack of objective evaluation. 2 - Research by Cao Xuan Thoa (2011): "Effective business of financial services of the post office in Hanoi". By carrying out the research, the author achieved the following main purpose: To study the theoretical basis on post and telecommunications financial services and the business efficiency of this type of service; Evaluating the efficiency of postal and telecommunication financial services of post offices in Hanoi; Propose some solutions to develop services, develop customers, use human resources, improve management to improve business efficiency of post office in Hanoi. However, the research of the author only carried out in a member of the Hanoi Post Office, therefore the presented solution was used at the unit level, while the orientation of advanced service efficiency depends on Vietnam Post Office. Hence, results of research can not be applied to research in Vietnam Post Corporation. - Study on "The solution for improving the efficiency of postal financial services business in the context of international economic integration" by Pham Quang Minh (2013). The main contents of study are issues of postal financial services in the context of economic integration, and in-depth analysis of the current status of postal financial services in Vietnam in past and experiences of some countries. The author has studied thoroughly the theoretical issues of postal financial services in the market economy and the conditions for developing this service. In addition, the author has put forward specific practical solutions to improve the efficiency of Vietnam's postal financial services business in the integration process. However, due to the author's research problem, which is to improve the efficiency of postal financial services business in Vietnam - the issue at the macro level refers to a lot of contents. But the status assessmentswas still general and issues was mentioned insufficiently. - The study by Gonzalez d'Alcantara, Paul H. Dembinski and Odile Pilley (2011) revolves around the business effectiveness of postal finance services, builds strategies based on the past and the future. future. In the study, the group addressed issues related to postal financial services such as the history of postal financial services development, the strategy for improving the efficiency of postal financial services business. However, due to research conducted in many countries in 3 different regions of the world such as France, Korea, New Zealand, China, Japan, some countries in Europe Africa .... Because each area has a particular economic characteristics so effective business postal financial services will also have different points. Therefore, when the author performs research at macro level in such countries, the research results of the author can not guarantee high accuracy. The study by Mark J. Scher (2001) on improving the efficiency of postal savings and other postal financial services. In the study, the author undertook an assessment of postal financial services, particularly postal savings in Asian countries, and learned the business experience of this type of service in developed countries around the world. . The research of the author has tremendous value in practice, helping Asian countries develop solutions to improve the efficiency of postal savings services in particular and postal financial services in general. However, the postal savings service is one of the services of the postal and financial services, so the research results of the author can not be applied to the study of financial and postal services. However, the study does not provide criteria for assessing the effectiveness of the development of postal financial services after the implementation of measures to develop services. To see the constraints as well as success in implementing the development of services. Thus, each study has a certain success, but research does exist a few restrictions. So, on the basis of inheriting the successes and overcoming the limitations of the research go ahead. The thesis author will complete his research topic. 3. Objectives of the study 3.1 In general The thesis's topic focuses on researching the current status of the efficiency of postal finance and operation services in order to raise the business efficiency of the Vietnam Post Corporation. 3.2 In pratice - Analyzing the real status of postal financial services business and some solutions ngfor improvi the efficiency of postal financial services business of Vietnam Post Corporation and at the same time generalizing successes And limitations of this activity. 4 - Proposing a number of measures to improve the efficiency of the post and telecommunications services of the Vietnam Post and Telecommunications Corporation. 4. Subject of research the subjects of the research are the efficiency of the business of postal finance services at the Vietnam Post and Telecommunications Corporation. 5. Scope of research Scope: The study was conducted at Vietnam Post Corporation About time: The research data was collected from 2011 - 2015 Content: Concentrate on researching postal finance services at Vietnam Post Corporation 6. Methodology of the study Research using the following methods: + Comprehensive Analytical Methods: Based on the collected data and materials, the author will conduct analytical and critical review and selection of critical material and will undertake thesis analysis. The author will use this method to analyze the efficiency of human resources, capital efficiency, effective use of working capital ... in the Vietnam Posts Corporation. + Comparative method: The comparison method is used to compare change of indicators reflecting the efficiency of financial services business of Vietnam Post Corporation. This shows the changes in the efficiency of financial services business for every year and the changes compared with the planned targets set forth in the financial services business efficiency. Similar to the general analytical method, the author applies a comparative method to compare the performance indicators of human resources, capital efficiency, working capital efficiency... in Vietnam Post Corporation. + Expert Method: The author consulted experts who are experienced teachers in the field, the leaders of the Vietnam Post Corporation and the staff who worked. A long time in the field of postal finance services at the Vietnam Post Corporation. Expert interviews will show the author about the current situation of postal finance service business in Vietnam Post Corporation, envisioning the advantages and 5 disadvantages in the business of financial services. It is at the corporation and has an appropriate research approach. 7. Structure of the thesis The thesis will consist of 3 main chapters with the following contents: Chapter 1: The rationale for postal financial services and improving the efficiency of postal financial services Chapter 2: The situation of improving the efficiency of postal financial services business in Vietnam Post Corporation Chapter 3: Proposed solutions to improve the efficiency of postal financial services business at Vietnam Post 6 CHAPTER 1: THE RATIONALE FOR POSTAL FINANCIAL SERVICES AND IMPROVING THE EFFICIENCY OF POSTAL FINANCIAL SERVICES 1.1 Overview of postal financial services 1.1.1 Basic concepts * Concept of Service According to the common notion used in Vietnam, services are economic activities that do not directly produce material goods for society but create surplus value due to exploitation of labor power, knowledge, and gray matter. Human capital directly or indirectly contributes to satisfying human needs and is an important contributor to GDP. Services are labor-intensive products of human nature, crystallizing diverse activities in the areas of economics, finance, banking, insurance, accounting, consulting ... (Fred R. David, 2000) It is also possible to understand that services are an activity or benefit provided to exchange and add value to the material and to diversify, enrich, differentiate, internalize ... the highest Is to become the brand, the business culture and create high satisfaction for consumers, so that they are willing to pay high, so that business is more effective. (Garry D. Smith (1998) * The concept of financial services In a market economy, financial resources are transferred from financial providers to financial petitioner either directly or indirectly through financial intermediaries or intermediaries. These intermediaries implement financial services. Under this understanding, financial transactions conducted through intermediaries (including financial intermediaries and intermediaries) are referred to as financial services. And where these financial activities take place is called the financial services market. According to the WTO (2005): A financial service is any financial service provided by a financial service provider. Financial services include all insurance services and services related to insurance, banking services and other financial services (except insurance). 7 The flowing line of money with only two functions: means of payment, storage facilities. That is the process of forming and distributing financial resources, distributing social wealth expressed in the form of value, in the form of funds of the subject. It is the economic category, reflecting the distribution relationships of social goods in the form of value. Creation, creation and distribution of monetary funds by entities in the economy in order to achieve the objectives of the entities under each condition.Là sự vận động của tiền tệ chỉ với hai chức năng: phương tiện thanh toán, phương tiện cất trữ. Đó chính là quá trình hình thành và phân phối các nguồn tài chính, phân phối của cải xã hội thể hiện dưới hình thức giá trị, dưới dạng các quỹ của chủ thể. * The concept of postal finance service Postal services include a wide variety of services. Initially, the postal services mainly included mail services, postal matters, parcels ... Gradually in the development process, in order to adapt to the increasingly diverse needs of societies, many postal services The main commercial is the operators put into operation such as express delivery services, flower delivery services, postal trust, datapost ... in which some services are hybrid services between post and telecommunications - Informatics and especially interesting are the posting financing services. Monetary financial services were a distinct advantage of the banking industry and provided by the banking industry. It is a service that satisfies the demand for money such as loans, savings, stock investments ... Recognizing the needs of people on financial services, the postal sector has taken advantage of the network of To engage in providing competitive financial services to the banking industry. However, due to the nature of the postal sector, the financial services provided by the postal sector are limited to certain services and must comply with certain regulations. Therefore, the financial services provided by the postal sector also have different characteristics from financial services. They call it the posting financing services. As such, it is possible to understand that the posting financing service is the financial service provided by the postal sector to society based on its existing postal network. 8