F11-053 - Dao Hoang Nam.v.1.1.docx

Opening a new branch of vietinbank in my dinh

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Opening a New Branch of Vietinbank in My Dinh Overview of Vietinbank Vietinbank s headquarter is located in Hanoi, Vietnam with the total of 155 branches and offices in 63 provinces and cities, include 2 in Germany, one in Laos, Cambodia and Myanmar (Vietinbank, 2018). The company was founded in the late 80 s, State Bank of Vietnam is the biggest stakeholder with 64.5%, the second was Mitsubishi bank with 20% of the share and the last 8% belong to IFC. Proud to be the number one bank in Vietnam, with the largest capital size, the best asset quality and the highest brand value. As stated by the annual report (2017) , the bank has a total of asset as 1,095,061 billion VND and Return on Asset is 9%, company charter is VND 37,234,045,560,000 and the number of employees is 23,000 people. As the organization chart demonstrated (see appendix A) determine that Vietinbank has a highly centralized operations function with a decentralized branch system typical in Vietnam (Vietinbank, 2018). This analysis will learn more about the implications of the business such as Size and Scope, Business type and purpose, and the connection between functions of the organization. Furthermore, this analysis will examine closer to the Human resource management, include purpose of HRM, important problems related to Workforce Planning, and an Assessment of the HRM Procedure to open a branch in My Dinh.
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1.1 Business Type and Purposes of Vietinbank 1.2 Explain the different types and purposes of organizations; public, private and voluntary sectors and their legal structures What is an organization? Is a group of people or more specific, a company that decide to cooperate with each other to meet the need or persued objective together, regardless of the size. Organization often comes various types of form. There were three main type was public sector, private sector and voluntary. Public sector is “the selection of a nation s economy, which is under control by the government, whether is it central, state or local” (S, 2018). The main purpose was to provide services to the public, community and wider, the nation. For example: school, hospital, public libraries,etc. In contrast, private sector, which is owned by individuals or companies, their basic goal was to seek profit. For example small business like grocery stores, to big companies like Apple and Samsung. They raised money from “issuing shares and debentures or taking by loan” (S, 2018). While public sector funds from taxes, duty and the money will go to the national Treasury. The Voluntary Sector is usually “comprised of organizations whose purpose is to benefit and enrich society, often without profit as a motive and with little or no government intervention” (PrivacySense.net, 2016, N.A). They usually participation in voluntary events, charity activities and they will not gain any profit. Their goal is to beyond profit for the organization. Their main source of income was through public fund, fundraising and mostly from their members, “the money they earned are usually invested back into the community or the organization itself” (PrivacySense.net, 2016, para 2, N.A).
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Legal structure will shape the business. Each structure will have its own pros and cons, depend
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