Brand Positioning and Development Associated with Corporate Culture

The bank brings convenience in business operations, enhances brand reputation, improves the bank's image and indirectly creates pride for bank employees.

How to do it

- Phase 1: Survey of corporate culture awareness of staff. Bank leaders need to conduct a survey and classify corporate culture awareness according to the requirements of each job position to develop a specific training plan. In the process of surveying the quality of human resources, it must be associated with the evaluation of work results. This awareness survey should be conducted simultaneously, avoiding the allocation of targets in the process of training and fostering corporate culture knowledge for the bank's staff.

- Phase 2: Assess the bank's needs for corporate culture training. Based on the survey results and job requirements at different positions of staff, the human resources department is responsible for determining the correct content that needs to be supplemented, equipped and the subjects that need to be trained, the time and location suitable for the work schedule. A training content can be divided into many small topics with many classes to facilitate employee participation in training.

- Phase 3: Conduct systematic training on corporate culture. The training program content needs to include basic topics such as: elements that make up corporate culture, benefits of building corporate culture, history of formation and development of corporate culture of the unit, tangible and intangible values belonging to the corporate cultural value system, development tradition of the bank, anecdotes about important contributors, typical rituals and other activities of the bank. Training time and specialized training are suitable for the working schedule of each department and position of the employee, can be divided into different study shifts with flexible hours, avoiding busy times such as the end of the term or the end of the month and should be organized periodically at least once a year. With such repetition, leaders and training units can assess changes over the years in employee perceptions and behaviors after instilling the bank's corporate cultural values.

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At the same time, it is possible to grasp the wishes, aspirations, ideas and initiatives related to corporate culture development from the staff through the method of

The teaching method focuses on learners, combining theory and practice of teamwork with hypothetical situations close to real work. Departments with the function of organizing training should combine organizing competitions and activities to learn about corporate culture in various forms such as images, articles, short clips, dramatization... to promote creativity and increase solidarity within the bank.

The results of these training sessions should be used by commercial banks as one of the criteria for income distribution. The human resources department or training unit conducts an assessment of the quality of the course through feedback from learners and unit leaders at different time intervals to provide the most objective feedback to develop more effective training programs in the future.

4.4.2. Positioning and developing the brand associated with corporate culture

Target

Identify the core values and position the brand of Vietnamese commercial banks in the international market, and each bank must position its unique brand in the domestic and international markets. Unify the image of the bank with a certain identification system, which represents the core values of the bank. Unify the will and actions of the bank's employees and leaders in expressing the image of the bank. Create a foundation for effective management of the bank's brand at all levels in the banking system through corporate cultural values.

Content

Bank brand can be understood as the perception of customers and partners about the bank. The positioning and development of the brand of commercial banks is associated with the process of creating love and difference in the minds of customers. The brand is often made up of the bank name, slogan, logo, characteristic color, design style and other identifying factors. These are also the material and spiritual cultural factors of the bank that need to be focused on building and developing in accordance with the strategic development orientation of the bank. Therefore, the process of positioning and developing the brand associated with corporate culture in a unified and effective manner can be implemented by commercial banks according to the following two contents:

- Internal communication. Developing an internal communication network of commercial banks creates sustainable relationships and increases solidarity among members of the bank, while creating cohesion and support in work between functional departments, branches - transaction offices, improving relationships between levels to move towards the common development goals of the bank. Commercial banks need to pay attention to developing and improving internal newsletters to serve the development of corporate culture and build the image of the bank. Communication information needs to ensure diversity, consistency and accuracy to increase efficiency in work while expressing ideas for organizing union activities, social activities to contribute to building a good image for the bank.

- Brand development is an important content for the implementation of the bank's business strategy. Banks need to research market potential, current position and carry out brand positioning, and at the same time need to coordinate strategies in a synchronous manner between brand development and corporate culture of the bank. Promote and promote the propaganda and advertising of the bank's image and brand on mass media, create the appearance of the bank at events, festivals, central locations, public places and social security programs, community support to bring the bank's image closer to the public and investors.

How to do it

- Phase 1: Implement brand positioning associated with corporate cultural values. Bank leaders conduct a survey of the current status of corporate culture to have a subjective and objective view when building a brand development strategy associated with corporate culture. At this stage, the leaders themselves must be imbued with the core values of corporate culture that are uniformly implemented throughout the banking system. From there, assess the current status of corporate culture at the agency to see which aspects of corporate culture have been achieved and which have not been achieved. This assessment can be conducted by the bank in conjunction with experts, companies, centers or universities specializing in corporate culture research to increase objectivity and accuracy. During the assessment process, the parties involved need to identify and analyze the factors affecting the formation process.

and develop the bank's corporate culture, evaluate the existing problems and causes to find corresponding solutions. Based on the internal strength and the position of existing competitors, the bank's board of directors sets out core values as the bank's competitive advantage, choosing to maintain development or change corporate cultural values to suit the bank's resources, the thinking of bank leaders and customer requirements for financial products and services at commercial banks. In the current competitive situation, these bank brands are competing fiercely on attributes such as attractive interest rates, good service style, simple procedures, low transaction fees, and spacious facilities. Bank leaders evaluate the bank's current position compared to competitors on the positioning map, consider the brand development orientation according to core criteria and decide on the next development steps based on this orientation.

- Phase 2: Establish a specialized department for brand development associated with corporate culture. This department is an essential department in the current competitive stage and has a long-term strategic nature for brand development. Commercial banks need to establish it not only at the central headquarters but also at regional and local branches. The role of corporate culture is emphasized when the bank is truly interested in developing the brand based on cultural values that exist sustainably in the awareness and trust of all staff instead of just short-term slogans and inconsistent implementation. Therefore, the role of specialized departments at commercial banks is important in the process of implementing brand development associated with corporate culture. The internal communication department is responsible for updating information on ongoing activities at the bank and choosing appropriate communication methods to provide the highest quality information. In addition, to meet the process of promoting the brand to the public and partners, this specialized department also standardizes branding work and builds a brand strategy associated with the business development strategy.

- Phase 3: Unify and deploy across the entire system the contents related to the brand associated with corporate culture such as using the correct name (full name, abbreviation, trading name...), logo, characteristic color, uniform, slogan... that have been registered and used in documents, forms, press releases... Design

Design uniformly and consistently the bank's brand identity publications such as stationery, forms, and documents for transactions with customers and partners. Most state-owned commercial banks now have uniformity in office design and headquarters architecture throughout the system with their own distinctive colors with specific styles and main colors. However, private commercial banks have not yet implemented this uniformly because the implementation conditions do not allow, the working location cannot be fixed permanently and the budget is limited. Bank leaders need to pay more attention to these material cultural factors to maximize the effectiveness of corporate culture in developing the bank's brand.

- Phase 4: Promoting the bank's brand through mass media, especially the bank's website, not only presents the diversity of products and services but also needs to demonstrate the dynamism of the staff to improve the bank's brand image. Public relations activities such as sponsorship events have great appeal to promote brand reputation, events with high community value demonstrating the social responsibility of the business unit such as sponsoring scholarships for students with difficult circumstances... are also communication channels that need to be increased to promote the bank's brand. In addition, banking products and services will be better promoted if commercial banks apply advanced technology, cooperate with international partners or units providing other utilities that the bank currently cannot meet. The inclusion of regional and international awards into the business strategy through each stage of the bank's development needs to be given more attention in order to enhance the bank's brand reputation and competitive strength.

Chapter 4 Summary

Corporate culture is considered an intangible asset of commercial banks, a major topic that needs to be fully researched by managers and is one of the important goals in the development strategy of enterprises and banks. Commercial banks in Quang Ngai province today need to identify, consider, and properly evaluate corporate culture factors, based on which there will be appropriate directions in management work, in order to have positive moves to retain talents and develop the bank's business activities.

Assessments of current corporate culture manifestations, along with employees' wishes to adjust the corporate culture model in the future and identify factors that have a positive impact on the process of building and developing corporate culture are the key contents studied to propose appropriate solutions in adjusting the corporate culture model to be more consistent with the vision and mission that have been determined for the next stages of development.

In this chapter, the author presents the experience of building, changing and developing corporate culture through studying typical cases. At the same time, the author summarizes the development strategy of the Vietnamese banking industry to 2025, with a vision to 2030, and the goal of developing corporate culture at commercial banks. Based on practical requirements and on the results of practical research, the author also boldly proposes a number of solutions to develop corporate culture at commercial banks in Quang Ngai province. The group of solutions to shape the corporate culture model includes: Strengthening family culture, reducing market culture, reducing hierarchical culture, and strengthening creative culture. Solutions to develop corporate culture include: Increasing awareness of corporate culture for staff, positioning and developing brands associated with corporate culture.

CONCLUDE

The thesis has clarified the basic theoretical issues of corporate culture at commercial banks, assessed the current status of corporate culture expression, diagnosed the current and expected corporate culture model, analyzed the factors affecting corporate culture at commercial banks in Quang Ngai province, thereby proposing solutions to adjust the model and develop corporate culture for commercial banks in Quang Ngai province, specifically:

(1) In theory, the researcher concluded that corporate culture at commercial banks is a system of material and spiritual cultural values that the bank selects, creates, uses and expresses in the process of business operations, creating the bank's unique features. Material cultural values include architectural features of the workplace, external symbols, regulatory systems, behavioral standards and meeting etiquette. Spiritual cultural values include philosophy, mission, strategic vision, development history and cultural traditions, beliefs and attitudes of employees. There are many factors affecting corporate culture at commercial banks, but they mainly include two groups: subjective factors (leaders, bank employees, job characteristics) and objective factors (customers, competitive environment and integration process).

(2) In practice, evaluating corporate culture at commercial banks in Quang Ngai province shows that:

- The material manifestations are relatively clear, and commercial banks are interested in building and developing them. However, there are still some manifestations that are not really appreciated in the bank's corporate cultural value system, such as anecdotes and stories about the bank's development tradition and bank employees' awareness of their own contributions to the bank's development strategy in the coming time.

- The current corporate culture model in banks is heavily market-oriented and hierarchical, while the desire of the staff is towards a corporate culture model with higher sharing, cooperation and creativity than the current one. However, in order to move towards the characteristics of corporate culture that bring efficiency in banking operations, which are Market Culture and Family Culture, state-owned commercial banks need to

change the properties, while private commercial banks have achieved a balance between the types of attributes.

- Factors affecting corporate culture are determined through linear models and quantitative methods of two groups of state-owned and private commercial banks. For the state-owned commercial bank group, corporate culture is directly affected by factors such as Staff (including leaders and bank employees), Customers and Integration process. Corporate culture at private commercial banks is affected by factors such as Staff, Customers, Leaders, Competitive environment and Job characteristics. The level of influence of the factors is different between the two groups of state-owned and private commercial banks.

(3) Based on the development strategy of the Vietnamese banking industry to 2025, with a vision to 2030, the goal of developing corporate culture at commercial banks and based on the results of practical research, the researcher proposes a number of solutions to increase the expression of corporate culture values, develop corporate culture at commercial banks in Quang Ngai province. The group of solutions to shape the corporate culture model at state-owned commercial banks includes: Strengthening family culture, Reducing market culture. The managerial implications for developing corporate culture include: Increasing awareness of corporate culture for staff, Positioning and developing brands associated with corporate culture.

Despite great efforts, the research of the PhD student is certainly limited. The research directions planned for the future of the PhD student include:

- Assess the impacts of other factors on corporate culture at commercial banks;

- Research to evaluate the role of corporate culture in commercial banking operations;

- Expand the scope of research to other commercial banks, possibly including foreign-invested commercial banks operating in the Vietnamese market;

In addition, further studies can expand the implementation of corporate governance research in other areas of banking.