Service quality and customer service performance – The case of vietnam joint stock commercial bank for private enterprises

Service quality and customer

vietnam national university, HANOI school of business

 

Service quality and customer service performance – The case of vietnam joint stock commercial bank for private enterprises

 

Major: Business Administration Code: 60 34 05

Master of business administration thesis

Hanoi – 2007

 

TABLE OF CONTENTS

ACKNOWLEDGEMENTS i
ABSTRACT ii
TÓM TẮT iv
TABLE OF CONTENTS vi
LIST OF ABBREVIATIONS viii
LIST OF FIGURES ix
LIST OF TABLES x
INTRODUCTION 1
1. Rationale 1
2. Objectives & aims 1
3. Hypotheses 2
4. Scope of work 2
5. Data resource & processing 3
6. Methods & approaches 3
7. Significance 3
8. Limitations 4
9. Expected results 4
10. Follow –up (potential) 4
11. Thesis structure 4
PART 1: LITERATURE REVIEW AND RESEARCH METHODOLOGY 6

CHAPTER 1: LITERATURE REVIEW 6

1.1 The nature of services and Characteristics of services 6
1.1.1 Why study services? 6
1.1.2 What is service? 6
1.1.3 Characteristics of services 6
1.2 Managing service quality 8
1.2.1 Service quality 8
1.2.2 Dimensions of service quality 8
1.2.2.1 Reliability 8
1.2.2.2 Empathy 9
1.2.2.3 Assurance 9
1.2.2.4 Responsiveness 9
1.2.2.5 Tangibles 10
1.2.3 Results of previous researches 10
1.3 Measure of customer service performance 11

CHAPTER 2: RESEARCH METHODOLOGY 14

2.1 Study Design 14
2.2 Measures 14
2.3 Sampling 16
2.4 Data collection 17
2.4.1 Method of data collection 17
2.4.2 Questionnaire design 18
2.4.3 Questionnaire pretest 18
2.4.4 Respond rate 18
2.4.5.1 Procedure of purification and validation 18
2.4.5.2 Procedure of reliability 19
2.5 Summary 20

PART 2. STATUS OF VPBANK AND DATA ANALYSIS 21
CHAPTER 3: STATUS OF VPBANK 21

3.1 General overview of VPBank 21
3.1.1 Vision and Mission 22
3.1.2 Core value and Business areas 22
3.2 Foundation and development process 23
3.3 Organization structure 25
3.4 Employees and Training Programs 26
3.5 Products & Services 26
3.6 Business operation results in 2006 26
3.7 Achievements 28
3.8 Orientation of business activities for 2007 29

CHAPTER 4: DATA ANALYSIS 31

4.1 Descriptive statistics 31
4.1.1 Demographics of the sample 31
4.1.2 Descriptive statistics of study scales 32
4.1.2.1 Descriptive statistics for five dimensions 33
4.1.2.2 Descriptive statistics of customer satisfaction 36
4.2 Reliability Test 37
4.3 Factor analysis 37
4.3.1 Factor analysis for reliability 38
4.3.2 Factor analysis for empathy 40
4.3.3 Factor analysis for tangible 42
4.3.4 Factor analysis for responsiveness 44
4.3.5 Factor analysis for assurance 46
4.4 Analysis of Relationships 48
4.4.1 Scatter grams 48
4.4.2 Collinearity problem 49
4.4.3 Multiple regressions analysis 49
4.4.4 Hypotheses Test 53
4.5 Summary 55

PART 3: CONCLUSION AND RECOMMENDATIONS 56

CONCLUSION 56
RECOMMENDATIONS 58
REFERENCES 64
APPENDICES

LIST OF ABBREVIATIONS
VPBank: Vietnam Joint Stock Commercial Bank for Private Enterprises CJS Bank: Commercial Joint- Stock Bank
CA’s: Cronbach’s Alpha
VIF: Variance inflation factor CS: Customer satisfaction

LIST OF FIGURES

Figure 3.1 VPBank’s Organization Chart 25
Figure 3.2 Safety assurance ratios 27
Figure 3.3 mobilized Capital source 27
Figure 3.4 Structure of outstanding loans 28
Figure 4.1 Scree Plot of Reliability 40
Figure 4.2 Scree Plot of Empathy 42
Figure 4.3 Scree Plot of Tangible 44
Figure 4.4 Scree Plot of Responsiveness 46
Figure 4.5 Scree Plot of Assurance 48

LIST OF TABLES

Table 2.2 Measurement of Bank’s Performance 16
Table 4.1 Demographic Descriptive Statistics 32
Table 4.2 Descriptive Statistics for Reliability 33
Table 4.3 Descriptive Statistics for Empathy 34
Table 4.4 Descriptive Statistics for Tangible 34
Table 4.5 Descriptive Statistics for Responsiveness 35
Table 4.6 Descriptive Statistics for Assurance 36
Table 4.8 Reliability Statistics 37
Table 4.10 Factor solution for Reliability 39
Table 4.12 Factor solution for Empathy 41
Table 4.14 Factor solution for Tangible 43
Table 4.15 Total Variance Explained – Responsiveness 44
Table 4.16 Factor solution for Responsiveness 45

INTRODUCTION

Competition will probably become much stronger when foreign banks expand their scale and scope of operations in the Vietnamese market. Vietnamese commercial banks will need to cope with many difficulties in expanding their banking activities in the world and competing with foreign banks whose strength of capital, technology, services and global operational scale provide them with potential advantages.
Before these challenges, Vietnamese commercial banks, especially Joint Stock Commercial Banks have been giving out many strategies such as widening branches, interest competitiveness, or promotion campaigns, and so on. However, all of them recognized that service quality was critical element to attract customers and necessary for effective competition

2. Objectives & aims

Objectives of study
The objective of this research is to investigate the relationship between five dimensions of service quality and Customer Service Performance of VPBank.
Aims of study
VPBank’s managers can use this instrument as a baseline for a longitudinal benchmarking program that is a means of comparing its performance from branch to branch or from year to year.

3. Hypotheses

In this study, five dimensions of service quality including reliability, empathy, tangible, responsiveness and assurance were employed to evaluate the impacts of those dimensions on customer service performance of VPBank. A below research model shows five relationships converted into five hypotheses.Hypotheses 1: A positive relationship exits between Reliability and Customer Service Performance of VPBank – Hanoi branch.
Hypotheses 2: A positive relationship exits between Empathy and Customer Service Performance of VPBank- Hanoi branch.
ositive relationship exits between Assurance and Customer Service Performance of VPBank- Hanoi branch.

4. Scope of work

This study focuses only on identifying the relative importance of five dimensions of service quality on customer service performance of VPBank Hanoi branch. The target customers are retail customers of VPBank. Because of the time and resources limitation to survey, this research surveys at VPBank Hanoi branch.

5. Data resource & processing Data resource

Questionnaires were personally delivered to and collected from customers came VPBank to implement transactions during the period of survey.
Data Processing
Each possible response to each question in the questionnaire was coded in the ways that conform to the requirements of this program. After the data was coded, the data were then ready to be analyzed.

7. Significance

For theoretical significance: The research enhances understanding of how five dimensions of service quality with customer satisfaction were. In addition, it adds to the knowledge of services marketing and research marketing.
For empirical significance: This is the first empirical study to date in VPBank to examine the relationships between five dimensions of service quality and customer service performance of VPBank at Hanoi branch. VPBank’s managers can use this instrument as a baseline for a longitudinal benchmarking program. Having a baseline will give VPBank’s management a means of comparing its performance from branch to branch or from year to year.

8. Limitations

Like other researches, this study has also several limitations. Because the scope of this research focuses only on individual customer group of VPBank, and survey test only VPBank Hanoi branch. Moreover, this study is also limited both time and resources.
9. Expected results
The result of this study showed positive effects for reliability, empathy, tangible, responsiveness and assurance on customer service performance. Regression analysis has been applied to identify the relative importance of the quality dimensions. Standardized beta coefficients are the parameters used to determine the contribution of each dimension. The higher the score is , the more important the dimension is.

10. Follow –up (potential)

The finding reported in this study offer several suggestions for future research. In future, researcher can cover more service categories and with large database to identify more dimensions to add to the service quality construct such as technology.

11. Thesis structure

Excluding the executive summary, introduction, references and appendixes, this thesis contains three parts
The first part, named, “Literature review and research design” covers chapters one and two. The purpose of this part is to introduce the theoretical background and the design of the study. All relevant theories: service and characteristics of service, managing service quality, and customer satisfaction were contained in chapter 1. Chapter 2 presented methodological issues such as providing an explanation of the measurement, sampling method, data collection, and procedure of purification, validity, and reliability.
The second part of this study, named, “Status of VPBank and Data analysis” contains chapters three and four. 

PART 1: LITERATURE REVIEW AND RESEARCH METHODOLOGY

CHAPTER 1: LITERATURE REVIEW

Services have six characteristics: intangibility, heterogeneity, simultaneity, perish ability, transferability and cultural specificity (Anonymous, 1998).
Intangibility makes services more difficult for customers to imagine and desire than goods. Because of intangible characteristic, services can not be inventoried, patented, readily displayed or communicated, and service price is difficult.Heterogeneity: Services are frequently delivered by human beings to human beings. However, humans tend to be inconsistent in their behavior, their delivery and consumption of services. Because of heterogeneous characteristics, service delivery and customer satisfaction depend on employee actions. 

Service quality and customer

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