Positive and Sustainable Customer Policy

harmonize the interests of both customers and banks. Avoid requiring too many procedures and documents, overlapping requirements between departments in the bank and customers... causing inconvenience to customers. Pay attention to customer feedback, frankly admit and find ways to overcome the shortcomings that customers reflect.

- Focus on measures proposed by departments, such as: Clearly assigning authority and responsibility to each department, division, and individual in the service provision process, avoiding overlapping, and enhancing and promoting the application of modern technology in the field of service provision to customers.

- Arrange sufficient resources during the service provision process to avoid overload, especially at the stage involving customers...

3.3.7. Solutions on building business culture in Lao state-owned commercial banks

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To improve the culture of Lao State-owned commercial banks, in the coming time, it is necessary to implement the following solutions:

 Standardize professional ethics rules

An important step in building a business culture of commercial banks in general and Lao State-owned Commercial Banks in particular is to assess the ethics of bank staff to ensure that they always act ethically when performing assigned tasks. In addition, Lao State-owned Commercial Banks need to develop a system of written regulations and regimes for all employees in the bank to comply with, specifically applying solutions such as:

- Issue documents specifying ethical standards and taboos in professional activities in the form of a handbook so that bank officers and employees can regularly exchange and learn.

- Regularly organize seminars on ethics in the banking system, to help them develop skills to handle difficult ethical situations. On the other hand, through the seminars, it will provide good examples of ethics for everyone to learn and follow.

- Apply independent control mechanisms to enhance the self-awareness in the implementation process of all officers and employees in the bank.

- Use information from customers to support the assessment of the ethical character of bank officers and employees.

- It is necessary to reduce the overload for bank officers and employees to limit the ethical risks that they may encounter.

 Build a complete business philosophy for the bank

A bank with a complete set of business philosophy will be the foundation for orienting all operational processes. Therefore, in the coming time, Lao State-owned Commercial Banks need to build a set of business philosophy for each bank, but must ensure the following contents:

- Mission and goals of the bank:

This is a highly general content, the mission or also known as the motto or purpose of the bank's operations when conducting business activities in the market. From there, Lao State-owned Commercial Banks need to answer questions such as: Who is our bank? What are our bank's obligations? Where will our bank go?...

The bank's mission will be more specific through business strategies for each stage and the mission definition for different banks is completely different. Therefore, Lao State-owned Commercial Banks need to define their own mission and goals.

- Method of action:

In this section, Lao PDR commercial banks need to answer the following questions:

How will the company carry out its mission and achieve its goals? With what resources and means? At what cost?...

In order for Lao State-owned Commercial Banks to effectively implement their methods of action, in the coming time, Lao State-owned Commercial Banks need to do well the following contents:

+ Need to build a system of bank values.

+ It is necessary to develop measures and management styles suitable for each bank.

 Building and developing the culture of the leadership team

The culture of the bank's leadership team plays a decisive role in forming the business culture of commercial banks in general and of marketing activities in particular. Therefore, in order for marketing activities in particular and banking business activities in general to be highly effective, the bank's leadership team needs to ensure the following areas:

First: About level

To improve the qualifications of the leadership team, leaders need to add some content such as:

- The leadership team needs to improve their ability to learn, improve their own qualifications, regularly consolidate and find ways to practice and develop skills, and at the same time realize that "Learning must be done regularly, always approaching new things, constantly gathering new experiences and renewing oneself", only then can leaders direct and educate employees under their management, and new leaders can handle work and easily adapt to difficulties arising in the business process.

- Strategic vision: If we consider the whole bank as a ship, then the bank leader is like the captain. They are the ones who orient and direct the implementation of those strategies. Strategy is always long-term, so in the implementation process, there is always the impact of all factors, so

There needs to be decisive and resolute changes. Thus, it requires bank leaders to have a long-term vision to be able to steer the bank in the right direction.

- Business management level: The business performance of a bank reflects the management level of the bank's leaders. When a bank has ineffective business results, it reflects the poor management and direction of the bank's leaders, who do not have effective strategies and plans for directing business activities in general and in using people in particular, and vice versa.

- Social relationship capacity: Social relationship is an important factor, creating important strength for the bank. Thereby, it connects everyone in the bank together, in order to create a combined strength for the bank. When the leader builds a cohesive collective strength, it will create support from everyone in the bank, which means improving the efficiency of each person's operations. The leader's social relationship is not only reflected in the bank itself but also in communication with external agencies and partners. The ability and capacity of the leader in the bank will build a good image for the bank, in order to create trust for partners, customers and customers.

Second: Qualities of a leader

The qualities of a leader are expressed through the following contents: High demand for success; Self-confidence; Willingness to accept risks; Sensitivity in business; Passion and love for the work they are doing... When a bank leader possesses all these qualities, it will create a necessary and valuable leadership quality of a good leader. Therefore, each leader in Lao State-owned Commercial Banks needs to check whether he/she has these qualities or not, if so, he/she needs to make an effort to develop them. If the staff

Any leader who is lacking needs to find out the cause and overcome that weakness, in order to gradually improve himself.

Third: The moral qualities of a leader

Moral qualities are an increasingly important factor in business activities in general and in banking in particular. A leader with good moral qualities is not only a shining example for all bank officers and employees to learn and follow, but will also build a good image for partners and the public, thereby contributing to improving the efficiency of the bank's own staff, but also creating an attraction for customers to come to the bank.

 Building culture in communication and behavior

Behavior and communication are the realization of business culture in specific situations of commercial banks. Normally, in banks, there are two types of communication: Communication with customers and communication with bank staff. Both of these communications are meaningful in the business activities of the bank. Therefore, in the coming time, to build these two types of communication well, Lao State-owned commercial banks need to follow the following directions:

In the coming time, Lao State-owned commercial banks need to build a detailed culture of communication and behavior with customers. This detail needs to be from handshakes, greetings, introductions, giving cards, and talking to each type of customer. In addition, it is necessary to build and orient bank staff on communication and behavior styles through letters and telephones, instruct on how to handle situations, build a civilized public lifestyle, and civilized eating, smiling, and talking. However, when building and implementing, there must be unity and consistency, and the image of the bank must be highlighted in the minds of customers. The implementation of customer policies in a positive and sustainable manner is shown in the following diagram 3.1:

Approachable, close

Client

Culture of communication and behavior

Unified perception

Compliance Principles

Qualities for employees

The foundation of business culture

Attractive, appealing

Figure 3.2: Positive and sustainable customer policy

According to diagram 3.1, to successfully build a culture of communication and behavior in Lao state-owned commercial banks, it is necessary to synchronously implement the following issues:

+ Need to be unified in perception about customers. Officers and employees in the bank need to realize that the relationship with customers is not simply a fair relationship of borrowing and paying, but is a connection and sharing arising from the rights and responsibilities of both parties. Therefore, officers and employees of the bank need to consider customers as both the driving force and the goal of the bank's operations.

+ Lao State-owned commercial banks need to establish a code of conduct and communication. Specifically, bank staff must not discriminate in communication between customer groups such as: depositors, borrowers, payment customers, customers using card products and services, etc. Bank staff must know how to be close to customers, listen and understand their thoughts and wishes so that the bank can know what is weak, lacking and what needs to be supplemented.

+ Lao State-owned commercial banks need to build good qualities for bank staff and create conditions for bank staff to

Creative in work, honest in handling work, quick in handling problems, optimistic and confident in communication.

3.3.8. Modernization of facilities

It is necessary to accelerate the modernization of information technology, considering this a strategic goal to catch up with the banking technology level of countries in the region and the world, in order to increase the capacity of Lao State-owned Commercial Banks.

In the coming time, Lao State-owned Commercial Banks need to increase investment capital for additional equipment and re-equipment of advanced technical and technological equipment, modernize banks and payment systems, diversify and improve product utility. However, in limited conditions, technology investment projects must be carefully calculated and considered by Lao State-owned Commercial Banks, and should focus on key and effective investments, taking into account the development trend of information technology in the future.

Developing and expanding the application of modern information technology, but there must be measures to ensure the security of the data system, safety in electronic transactions, online transactions, and signature security. This is an extremely necessary task to prevent possible risks to banking operations, increase safety and prevent cybercrime, and increase customer confidence when using the services of Lao State-owned commercial banks.

In addition to equipping hardware such as computers, equipment, offices, etc., it is necessary to pay attention to developing software to take advantage of and exploit, such as: Software to support the provision of monitoring information, management of system operations, card connection software, online information connection between Lao State Commercial Banks and the Lao State Bank, software with online operation functions, etc.

Developing a team of IT specialists and engineers. First, Lao State-owned commercial banks need to review the staff of the bank at IT centers, create conditions to support training and retraining to improve professional qualifications, skills, and improve

ability to access modern banking technologies in the process of international integration. Improve the remuneration regime to attract high-quality resources and retain existing good human resources. It is necessary to link and cooperate with other banks, especially foreign banks, computer and software companies to send bank staff to study to update new information, technology, management and operation skills, to improve the qualifications of employees and later serve the bank.

3.4. Solutions on organizing, implementing and controlling Marketing of Lao state-owned commercial banks

In the process of marketing activities, people can divide bank customers into two groups, the group of customers who are economic organizations and the group of customers who are individuals. The characteristics of marketing activities of each of these groups are completely different, specifically: The services used by economic organizations are often more complicated than the services of individuals, the pricing method for economic organizations is often more flexible and preferential, because they have large transactions, while the price of services for individuals is often quite uniform and fixed, or individuals can use ATM services while customers who are economic organizations have to go to the bank. On the other hand, the promotion method for the group of customers who are economic organizations must be transacted at the bank, while for the group of customers who are individuals, it can be done through mass media... Thus, the current organizational structure of the marketing department of Lao State-owned commercial banks needs to change, dividing by customer groups instead of by each business segment or length of service as it is now (see figure 3.2).

In addition, it is necessary to create enough power for the marketing department to operate, specifically: The position of the marketing department in the organizational structure of Lao State-owned Commercial Banks also needs to be changed to correspond to its important position and function in the overall business activities of Lao State-owned Commercial Banks, bringing the department

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