Higher Nationals - Summative Assignment Feedback Form

Student Name/ID Tran Quoc Thanh / GDH210825

Unit Title Unit 19: Research Project
Assignment Number Assignment 2 Assessor Ngo Tran Thai Duong
19-04-2024 Date Received
Submission Date
1st submission
Date Received 2nd
Re-submission Date
submission
Grading grid

P4 P5 P6 P7 M3 M4 D2 D3

Assessor Feedback:
*Please note that constructive and useful feedback should allow students to understand:
a) Strengths of performance
b) Limitations of performance
c) Any improvements needed in future assessments
Feedback should be against the learning outcomes and assessment criteria to help students understand how
these inform the process of judging the overall grade.
Feedback should give full guidance to the students on how they have met the learning outcomes and
assessment criteria.

Grade: Assessor Signature: Date:

07.03-BM/ĐT/HDCV/FE 1/0 1/31

 Resubmission Feedback:
*Please note resubmission feedback is focussed only on the resubmitted work

Grade: Assessor Signature: Date:

Internal Verifier’s Comments:

Signature & Date:

* Please note that grade decisions are provisional. They are only confirmed once internal and
external moderation has taken place and grades decisions have been agreed at the
assessment.

07.03-BM/ĐT/HDCV/FE 1/0 2/31

Abstract
This research looks at the impact of Corporate Social Responsibility (CSR) initiatives on customer
satisfaction at Sacombank, one of the biggest banks in Vietnam. As organisations increasingly incorporate
social and environmental factors into their operations, understanding the effect of such programmes on
customer views becomes critical. The study focused on Sacombank's different sectors and used a
quantitative technique, with data collected from 30 respondents via a structured survey. The study's findings
reveal significant favourable relationships between Sacombank's CSR operations, notably environmental
measures, and customer happiness. These data show that CSR efforts are not only well-received by
Vietnamese customers, but also contribute to higher satisfaction levels. Such findings highlight the potential
for CSR programmes to improve consumer views, demonstrating that incorporating responsible behaviours
may provide strategic benefits in competitive marketplaces. The report encourages companies like
Sacombank to continue investing in CSR initiatives as a way to improve customer satisfaction and develop
long-term commercial success.

07.03-BM/ĐT/HDCV/FE 1/0 3/31

Table of content
I. INTRODUCTION ............................................................................................................................................. 5

II. LITERATURE REVIEW..................................................................................................................................... 7

1. CUSTOMER SATIFACTION .................................................................................................................................... 7

2. CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES: ........................................................................................... 8
3. THE RELATIONSHIP BETWEEN CSR INITIATIVES AND CUSTOMER SATISFACTION: .............................................................. 9
4. RESEARCH MODEL: ......................................................................................................................................... 10

III. PLANNED RESEARCH METHOLOGY ............................................................................................................ 11

1. APPROACH THEORY......................................................................................................................................... 11
2. RESEARCH METHOLOGIES.................................................................................................................................. 12
3. SAMPLING STRATEGY ....................................................................................................................................... 13
4. SAMPLE ........................................................................................................................................................ 15
5. RESEARCH INSTRUMENT: .................................................................................................................................. 16

IV. RESULTS .................................................................................................................................................... 18

1. PARTICIPANT DEMOGRAPHICS: .......................................................................................................................... 18

2. DESCRIPTIVE MEASURE..................................................................................................................................... 20
3. HYPOTHESIS TESTING ....................................................................................................................................... 21

V. DISCUSSION ............................................................................................................................................... 22

1. STATE THE MAIN RESULTS OF THE RESEARCH: ............................................................................................................ 22

2. REFLECT ON THE EFFECTIVENESS OF RESEARCH METHODS: MAINLY LIMITATION OF YOUR METHODS THAT MIGHT LEAD TO A WRONG
RESULT: ............................................................................................................................................................... 23
3. RECOMMEND FOR FUTURE RESEARCH: .................................................................................................................... 24

VI. REFERENCE ................................................................................................................................................ 24

07.03-BM/ĐT/HDCV/FE 1/0 4/31

I. Introduction
In the current economic situation, businesses all over the world are beginning to realise how important it is
to include social and environmental concerns into their operations. Corporate social responsibility (CSR)
activities have been widely accepted as a result of this paradigm shift (Nguyen, 2018). Leading bank in
Vietnam, Sacombank, is a prime example of this movement as it actively participates in CSR initiatives to
improve its reputation and advance social welfare. Sacombank, a prominent financial institution in Vietnam,
emphasises the significance of comprehending the ways in which its corporate social responsibility
endeavours influence customer contentment within the current intensely competitive marketplace.

Contemporary experts underscore the evolving landscape wherein businesses are increasingly recognized
as having a social responsibility to fulfil within their operating communities (Peloza & Shang, 2011; Sen &
Bhattacharya, 2001). This societal shift, as articulated by Bussey (2006) cited in Chang (2017), prioritizes
social behaviors and ethical beliefs over traditional competitive advantages like price and quality, prompting
consumers to favor companies engaged in corporate social responsibility (CSR) practices (Webb, Mohr, &
Harris, 2008). Consequently, businesses, including Sacombank, must prioritize customer satisfaction to
retain their clientele amidst growing consumer preferences for socially responsible entities (Donaldson &
O'Toole, 2007; Jin, Lee, & Huffman, 2012; Oliver, 1999). Research indicates that achieving high levels of
customer satisfaction yields long-term benefits, including favorable word-of-mouth, client loyalty, and
increased profitability (Palmatier, Dant, Grewal, & Evans, 2006; Yadav & Rai, 2015). Furthermore, CSR
initiatives have emerged as effective marketing tactics capable of inspiring consumer reactions and
enhancing organizational performance (Green & Peloza, 2011). Through the implementation and
communication of CSR activities, firms can reap numerous advantages, including revenue growth and
enhanced client retention (Peloza & Shang, 2011; Sen & Bhattacharya, 2001; Luo & Bhattacharya, 2006).
Therefore, understanding how CSR activities influence consumer behavior and marketing performance is
deemed essential for crafting effective marketing strategies (Luo & Bhattacharya, 2006; Marin, Ruiz, &
Rubio, 2009). For instance, In a study by ( Vo. 2020), the correlation between perceived CSR efforts and
customer satisfaction within the Vietnamese banking sector was investigated, shedding light on the potential

07.03-BM/ĐT/HDCV/FE 1/0 5/31

impact of CSR on consumer behavior in this specific industry. However, the study did not directly analyze
Sacombank's initiatives across various sectors. Thus, there is an urgent need for empirical research aimed
at assessing the extent to which Sacombank's CSR endeavors influence the satisfaction of Vietnamese
consumers with its banking services. This presents a valuable research opportunity to elucidate the
intricacies of corporate social responsibility and its effects on customer satisfaction in the Vietnamese
banking sector. By addressing this gap in the literature, further inquiries can be pursued, contributing to a
deeper understanding of the role of CSR in enhancing customer satisfaction in the banking industry.
The burgeoning significance of Corporate Social Responsibility (CSR) in contemporary business practices
has prompted considerable academic interest in its implications for consumer behavior and satisfaction.
However, scholarly exploration of this relationship within the Vietnamese banking industry remains notably
scant, necessitating focused inquiry to address this lacuna. Drawing inspiration from seminal works
underscoring the relevance of examining CSR within specific national contexts, this study endeavours to
elucidate the impact of CSR initiatives on customer satisfaction in the Vietnamese banking sector, with
Sacombank serving as a pertinent case study. By contextualising CSR within Vietnam's distinct
sociocultural and economic landscape, this research aims to contribute empirically grounded insights into
the efficacy of CSR strategies in fostering customer satisfaction (Vo. 2020). This study specifically aims to
respond to the following research questions:

Question 1: What is the effect of corporate social responsibility activities on customer satisfaction in the
context of Sacombank?

Question 2: How do customers perceive Sacombank's corporate social responsibility activities in

comparison to its competitors, and how does this perception influence their levels of satisfaction towards
the bank ?
By examining these questions, this study aims to bridge the existing gap in the literature regarding the effect
of Sacombank's CSR endeavors on customer satisfaction . Additionally, it seeks to provide valuable insights
to both practitioners and academics, aiding in a deeper understanding of the relationship between CSR and

07.03-BM/ĐT/HDCV/FE 1/0 6/31

customer happiness, which is crucial for the strategic decision-making process of companies like
Sacombank.

II. Literature review

1. Customer Satifaction

Customer satisfaction is at the heart of marketing ideas and practices (Munusamy, Chelliah, & Mun, 2010).
It is a critical outcome of marketing performance that connects consumption and purchase processes with
post-purchase events such as brand loyalty, repeat business, and attitude adjustments (Churchill &
Surprenant, 1982). Johnson and Fornell (1991) define customer satisfaction as a wide appraisal of a
company's performance provided by its customers.
Moreover, Grey and Boshoff (2004) found that customer satisfaction depends more on their perceptions of
the goods and services than it does on the goods or services themselves. Because of this, various consumers'
definitions of satisfaction for the same good or service vary (Ueltschy, Laroche, Eggert, & Bindl, 2007).
Kotler (1996) defined customer satisfaction as the result of a disparity between pre-consumption
expectations and post-consumption perceptions. In other words, satisfaction is the difference between
perception and expectation. However, because it is based on the expectations and perceptions of the
individual customer, which change over time and across individuals, customer satisfaction varies over time
and among consumers ( Zinkhan, 2004).
Being a major participant in the Vietnamese banking sector, Sacombank's standing, Customer satisfaction,
and competitiveness in the market are all directly impacted by its capacity to meet and beyond consumer
expectations. It's critical to comprehend the distinct tastes, requirements, and expectations of Sacombank's
wide range of clients in order to guarantee excellent customer satisfaction and build enduring partnerships.
Through focused tactics including tailored banking services, expedited procedures, and attentive customer
assistance, Sacombank may raise customer satisfaction and establish itself as a reliable financial partner in
Vietnam's changing market environment. (Quyet, 2015)

07.03-BM/ĐT/HDCV/FE 1/0 7/31

2. Corporate Social Responsibility (CSR) Initiatives:

Companies proactively incorporate social and environmental issues into their main business operations by
utilising corporate social responsibility (CSR) programmes (Porter & Kramer, 2006). Beyond just
complying with legal obligations, corporate social responsibility (CSR) seeks to positively influence society
and the environment. These programmes cover a wide range of activities, such as efforts to improve worker
welfare, meet social obligations, and advance environmental sustainability.

A number of concepts closely related to CSR activities need to be examined in order to clarify their unique
specifics:

Corporate Philanthropy: CSR includes more extensive initiatives to make a larger-scale contribution to
the well-being of society, whereas corporate philanthropy usually include financial gifts. Comprehensive
CSR initiatives include environmental and social concerns into every facet of business operations (Porter &
Kramer, 2006).
Business Ethics: CSR upholds the values of business ethics by making sure that company activities are
conducted in a fair, honest, and transparent manner. Responsible social behaviour is based on ethical
behaviour (Crane & Matten, 2019).
Sustainability: The goal of sustainability is to satisfy present demands without endangering the capacity of
future generations to satisfy their own. CSR initiatives frequently assist sustainability objectives by
encouraging environmental stewardship and social justice (Elkington, 1997).
Stakeholder Theory: By taking into account the demands of all stakeholders, including consumers,
workers, investors, and communities, corporate social responsibility (CSR) programmes seek to foster good
connections and improve long-term business performance (Freeman, 2010).
According to Signalling Theory, businesses use CSR programmes to demonstrate their commitment to
moral behaviour and social responsibility. According to Luo and Bhattacharya (2006), these activities serve
as signals to consumers, favourably influencing their views and eventually leading to increased customer
satisfaction.

07.03-BM/ĐT/HDCV/FE 1/0 8/31

Legitimacy Theory: Businesses operate in a way that conforms to cultural norms in an effort to gain
legitimacy and social acceptance. In order to become legitimate and accepted by society, CSR initiatives
are essential (Deephouse, D.L. and Suchman, M., 2008.)

Based on Nguyen's (2020) research, "Impacts of Perceived Corporate Social Responsibility Practices on
Customer Satisfaction and Perceived Value: A Case Study in the Banking Sector in Vietnam," this study
explores the relationship between perceived CSR initiatives and customer satisfaction as well as perceived
value in the context of the Vietnamese banking sector. Results from a survey of Vietnamese banking
customers show that perceived CSR initiatives are positively correlated with customer happiness and
perceived value. This demonstrates how important socially conscious banks are to Vietnamese customers,
and it implies that these kinds of efforts can raise customer satisfaction levels all around.

3. The relationship between CSR Initiatives and Customer Satisfaction:

Customer satisfaction and Corporate Social Responsibility (CSR) efforts have a complex relationship that
is based on a number of academic frameworks. Corporate philanthropy is one such framework that
highlights the wider reach of CSR programmes than just monetary contributions. According to Porter and
Kramer (2006), comprehensive CSR practices include social and environmental issues into every facet of
business operations, which may improve consumer satisfaction by taking a more all-encompassing approach
to societal well-being. Additionally, through CSR programmes, business ethics is essential to promoting
consumer happiness. CSR, according to Crane and Matten (2019), guarantees ethically sound corporate
practices that are transparent, truthful, and equitable. Businesses may improve customer satisfaction by
cultivating trust and loyalty via their commitment to socially responsible behaviour. Another important
factor affecting the connection between CSR efforts and consumer happiness is sustainability. According to
Elkington (1997), sustainability is the capacity to fulfil current requirements without sacrificing the ability
of future generations to meet their own. CSR programmes frequently encourage social justice and
environmental stewardship, which resonates with consumers who value morality and environmentally
friendly corporate operations and raises customer satisfaction levels. Furthermore, Stakeholder Theory
highlights how crucial it is for CSR programmes to take into account the interests of all stakeholders,

07.03-BM/ĐT/HDCV/FE 1/0 9/31

including customers. According to Freeman (2010), businesses may improve long-term company
performance and cultivate strong connections with a variety of stakeholders by attending to their needs.
This, in turn, can raise consumer satisfaction. More information on the connection between CSR efforts and
customer happiness may be found in the Signalling Theory. According to Luo and Bhattacharya (2006),
corporate social responsibility (CSR) initiatives convey to customers a company's commitment to moral
behaviour and social responsibility. These signals have the power to favourably affect customers'
perceptions, which will eventually lead to increased satisfaction. The importance that CSR activities play in
obtaining social acceptance and legitimacy within society is further highlighted by Legitimacy Theory. By
engaging in CSR activities, companies, according to Deephouse and Suchman (2008), comply to cultural
norms in an effort to gain acceptance and legitimacy from the community. As a result, CSR programmes
help to enhance consumer satisfaction levels by forming good attitudes.

4. Research Model:

H1: Sacombank’s initiatives positively influence customer satisfaction levels among consumers in Viet Nam

H2: The CSR that Sacombank has earned has a favourable impact on customer satisfaction scores in the
Vietnamese market.

07.03-BM/ĐT/HDCV/FE 1/0 10/

31
III. Planned research methology
1. Approach Theory

The Deductive method is a type of reasoning where a general premise or hypothesis is the starting point and
particular conclusion is reached based on supporting data. To arrive at a specific conclusion, it starts with a
general statement and uses logical deductions. Philosophy, physics, and mathematics are among the fields
that frequently use deductive reasoning (Jones, 2021).The inductive technique, on the other hand, proceeds
from particular cases to a hypothesis that is more broadly applicable. First, specific situations are observed,
and from these observations, more general rules or hypotheses are derived. According to Jones (2021)
inductive reasoning is widely applied in everyday decision-making processes as well as in social sciences
like psychology and sociology.

The current study's research project takes a deductive strategy, which is motivated by the method's
systematic reasoning process and logical basis. Deduction is the process of creating particular hypotheses
from accepted theories or principles and then verifying them via empirical observation, as opposed to
induction, which makes generalisations from specific occurrences (Lee, 2018).
The deductive approach has a number of benefits. First of all, it proceeds in an organised manner by starting
with a broad theory or hypothesis and then supporting it with particular observations or data. This improves
the research's rigour and dependability and guarantees that results are well-founded in logic and supporting
data. Furthermore, the deductive method makes results more predictable and broadly applicable. Moreover,
it promotes openness and reproducibility since researchers are forced to clearly state their assumptions and
procedures, which reduces bias and subjective interpretation. To summarise, the deductive method is
beneficial for research projects as it provides a rational and structured framework for developing and testing
hypotheses that enhance understanding of the subject matter being examined (Lee, 2018).

07.03-BM/ĐT/HDCV/FE 1/0 11/

31
2. Research methologies

The quantitative research method uses statistical approaches to gather and analyse data in an organised,
unbiased manner. It focuses on quantifiable data and uses numerical measures to get conclusions that are
consistent and widely applicable. Finding patterns, connections, and trends is the aim of this research
methodology, which enables researchers to draw unbiased findings and make defensible choices. (Pandey,
2019).

The goal of the qualitative research technique is to understand social processes from a subjective point of
view through the systematic collection and analysis of data. Using methods including observations,
interviews, and document analysis, this approach collects non-numerical data that allows researchers to
explore people's experiences, perceptions, and interpretations. (Pandey, 2019)

The choice to employ the quantitative research approach in this study was made since it was thought to be
appropriate for organising and conducting the investigation. According to Pandey (2019), quantitative
research has the benefit of producing exact and objective results since it uses statistical approaches to
analyse numerical data. This neutrality is especially beneficial since it improves external validity, enabling
conclusions to be extrapolated outside of the study's particular setting. Replication and comparative analysis
are further supported by the systematic and standardised data gathering methods used in quantitative
research, which adds to the validity of the study's conclusions. Moreover, the focus of quantitative research
is on measurable factors, which facilitates the recognition and assessment of connections and trends in the
data, resulting in a more thorough comprehension of the study issue.

The use of quantitative research methodologies is justified because this study examines the relationship
between customer satisfaction and Corporate Social Responsibility (CSR) in Vietnam's corporate
environment, particularly the banking industry as represented by Sacombank. This approach makes it easier
to analyse numerical correlations methodically, which allows for a more in-depth investigation of the impact
of CSR on customer satisfaction in a variety of industries, including banking .

07.03-BM/ĐT/HDCV/FE 1/0 12/

31
On the other hand, qualitative research techniques might not offer the degree of statistical rigour and
generalizability required for this study, despite their value in examining complicated phenomena and
obtaining rich, contextual insights. Because qualitative methods are more subjective and sometimes use
lower sample sizes, it can be difficult to draw generalisations or identify causal correlations from the data.
Therefore, the necessity for a more organised and methodical methodology that may provide trustworthy
and objective conclusions led to the choice to forgo using qualitative research for this project.

3. Sampling strategy

Covenience sampling strategy :

This study selected convenience sampling for a number of reasons. Initially, convenience sampling is an
economical and expedient technique that enables researchers to promptly collect data from easily accessible
people. Convenience sampling is a workable method for gathering data within the parameters of the
research, considering the restrictions of time and money. Convenience sampling also provides accessibility
to a large pool of possible participants. This technique makes it possible for researchers to contact people
who are easily reachable or ready to participate, which increases the viability of data collection, especially
in situations where it may be difficult to gain access to a particular community.

Moreover, exploratory or preliminary research, in which the main goal is to get understanding of a
phenomena or produce hypotheses for additional study, may find convenience sampling adequate. The
foundation for future, larger-scale investigations is laid by the researchers' ability to collect a variety of
viewpoints and preliminary findings through convenience-based participant selection. Furthermore, when a
representative sample is not needed to achieve the research purpose or when the study concentrates on
particular subgroups within a community, convenience sampling may be acceptable. This study may benefit
from focusing on participants from a particular geographic region or industrial sector, like banking, since it
might yield insightful answers to the research question without requiring a representative sample.

The purpose of this study, which focuses on Sacombank, is to learn more about the link between customer
satisfaction and corporate social responsibility (CSR) in the banking industry. Convenience sampling will

07.03-BM/ĐT/HDCV/FE 1/0 13/

31
be used to achieve this goal. In order to do this, 40 individuals who have a direct relationship to
Sacombank—such as existing clients and staff—will be the subject of an online survey that the researchers
will administer. The online survey will be delivered by email and numerous internet platforms, allowing for
effective data gathering from a wide range of participants. This strategy takes use of the accessibility and
ease of online communication channels to contact people who can offer significant insights into
Sacombank's CSR programmes and their influence on customer satisfaction. The study's survey results are
intended to provide preliminary insights into the research issue, providing the framework for additional
exploration into this link.

Stratified sampling strategy :

Using stratified sampling, the population is divided into homogenous subgroups, or strata, and samples are
chosen according to the size of each stratum. While ensuring that each subgroup is fairly represented through
stratified sampling can increase the sample's representativeness, it might not be the best strategy for this
particular research study, which examines the relationship between customer satisfaction and corporate
social responsibility (CSR) in the banking industry with a particular focus on Sacombank.

The absence of specific data or stratification characteristics for the target group may be one justification for
not employing stratified sampling. Accurately classifying the population in this situation according to
pertinent factors like customer satisfaction scores, banking habits, or demographics may prove difficult.
Furthermore, compared to convenience sampling, stratified sample implementation might be more difficult
and time-consuming, particularly when there are time and resource restrictions.

Random sampling strategy :

With random sampling, participants are chosen at random from the population to guarantee that every
individual has an equal chance of being included in the sample. Although random sampling is frequently
regarded as the most effective method for attaining sample representativeness and reducing sampling bias,
there are a number of reasons why it might not be the best choice for this particular research study, which

07.03-BM/ĐT/HDCV/FE 1/0 14/

31
examines the relationship between customer satisfaction and Corporate Social Responsibility (CSR) in the
banking industry, with a particular emphasis on Sacombank.

First, practical limitations like restricted access to the whole population of interest may make random
sampling difficult to accomplish. It would be challenging or impracticable to compile an exhaustive list of
all current Sacombank clients and staff members for this study, and then choose participants at random from
this list. Furthermore, the inclusion of individuals with pertinent experiences or insights into the study issue
may not be guaranteed by random sampling. For example, choosing people at random from the general
population may provide a sample that is insufficiently representative of the target group, which consists of
Sacombank employees and customers who directly engage with the bank's CSR programmes and customer
service.

4. Sample

Table 1: The proportion of respondents by gender who participated in the survey

07.03-BM/ĐT/HDCV/FE 1/0 15/

31
 Table 2: The proportion of respondents by age who participated in the survey

While people from a variety of professions participated in the survey, their numbers were inadequate to
have a substantial impact on the study's overall results. It is important to recognise that respondents from
diverse sectors and industries may have different viewpoints and experiences than those solely associated
with the bank industry. As a result, while doing research and statistical analysis, selecting a broad and
representative sample is critical. The tabulated data shows a clear trend in client demographics, with those
under the age of 25 holding the bulk of accounts (40%). This finding shows a strong focus on appealing to
young people among the bank's customers. Furthermore, 33.33% of clients are between the ages of 26 and
40, with the remaining 26.67% being above the age of 40. It is important to note that owing to the small
sample size of 30 participated, these results may not completely reflect the bank's overall client base.

5. Research Instrument:

Variable Name Survey Questions References

Supports culture and art activities of the PL1
local community
Managers and employees participate in PL2
charitable activities of their local
communities

07.03-BM/ĐT/HDCV/FE 1/0 16/

31
 Operates in a manner consistent with ER1 Carroll & Shabana
expectations of societal and ethical (2010)
norms
CSR Recognizes and respects new ER2
ethical/moral norms
Obeys various federal, state, and local LR1
regulations.fulfills its legal obligations
Fulfills its legal obligations LR2
Focuses on maximizing earnings ECO1
Committed to profitability ECO2
Practices recycling pollutants and EC1
wastes
Manufactures eco-friendly products EC2 Sandhu & Kapoor
Makes efforts to improve product CP1 (2010)
quality
Settles customer complaints quickly CP2

I am satisfied with the service provided CS1

by VinGroup Pérez et al. (2012)
Customer Satisfaction The service of VinGroup company CS2 , Yang et al. (2017)
meets my expectations
Overall, I am satisfied with the service CS3
provided by VinGroup company

Table 3: Observation Variable

07.03-BM/ĐT/HDCV/FE 1/0 17/

31
The main tool used by the author to gather data for this study was a questionnaire. An essential part of every
quantitative research approach is the questionnaire. The structure of the survey's questions was influenced
by previously released scholarly studies. A Likert scale was used for pertinent survey topics, with response
possibilities ranging from 1 to 5 for customer satisfaction and from 1 to 7 for corporate social responsibility.
The study's exploratory aims were facilitated by this rigorous technique, which made it easier to examine
participant replies.

IV. Results

1. Participant Demographics:

Table 4: Participant demographics of gender

07.03-BM/ĐT/HDCV/FE 1/0 18/

31
 Table 5: Participant demographics of age

The demographic data highlights the diversity in gender and age among the participants. With a slightly
higher number of male participants (14) than female (13), and a smaller representation of those who identify
as other (3), we see a distribution where males comprise 46.67%, females 43.33%, and other 10%. Age-
wise, there's a significant representation of younger individuals, with 40% under 25, while those aged 26 to
40 account for 33.33%, and those over 40 represent 26.67% of the participants. This demographic spread is
important when considering the inclusiveness and relevance of the survey results. It suggests an engagement
with a youthful clientele, but also reflects a reasonable spread across different life stages. The inclusion of
diverse age groups and gender identities enriches the data, making it more comprehensive and potentially
reflective of a varied client base.

07.03-BM/ĐT/HDCV/FE 1/0 19/

31
 2. Descriptive measure

PL ER LR ECO EC CP CS

Mean 5,0 4,4 5,0 4,9 5,8 6,5 4,5

Standard Error 0,2 0,1 0,2 0,1 0,2 0,1 0,1
Median 5 4,5 4,75 5 6 6,5 4,7
Mode 4,5 4,5 4,5 5 6 6,5 5
Standard
Deviation 0,8 0,7 0,9 0,6 0,9 0,6 0,5
Sample
Variance 0,7 0,5 0,8 0,4 0,7 0,3 0,3
Kurtosis -0,4 0,0 -1,0 -0,1 -0,3 3,9 -0,7
Skewness -0,3 0,3 0,1 -0,6 -0,6 -1,7 -0,8
Range 3,5 3 3 2,5 3 2,5 1,7
Minimum 3 3 3,5 3,5 4 4,5 3,3
Maximum 6,5 6 6,5 6 7 7 5,0
Sum 149 133 148,5 148 174,5 193,5 136,33
Count 30 30 30 30 30 30 30

Table 6: Descriptive Measure

The Sacombank customer satisfaction and CSR perception survey results reflect a variety of viewpoints on
a number of responsibility issues. The average score for Ethical Responsibility (ER) was 4.4, while
Philanthropic Responsibility (PL) had a mean of 5. The mean Legal Responsibility (LR) was 5. Notably,
with a mean score of 4.9, Economic Responsibility (ECO) was recognised. The two most popular categories
were Environmental Contribution (EC) and Consumer Protection (CP), with average scores of 5.8 and 6.5.
Customer Satisfaction (CS) was tested using a new scoring method and had a mean of 4.5, suggesting that
respondents were very happy. The majority of respondents rated their satisfaction as good, with the
exception of CS, where the mean was 5. The median scores followed these patterns, and the most often
reported scores were at the top of the scale in each category. This shows that Sacombank is regarded
positively in numerous aspects of corporate social responsibility, with customer satisfaction being
particularly significant.

07.03-BM/ĐT/HDCV/FE 1/0 20/

31
 3. Hypothesis testing

Table 7: Hypothesis Testing

H2: The CSR that Sacombank has earned has a favourable impact on customer satisfaction scores in the
Vietnamese market.

To assess the relationship between Customer Satisfaction (CS) and Consumer Protection (CP), hypothesis
testing was conducted. The regression analysis revealed a coefficient of 0.5941 for CP, indicating a
statistically significant positive association between CP and CS. This suggests that an increase in CP is
associated with higher levels of customer satisfaction. The p-value of 0.0013 further supports this
relationship, indicating that there is a less than 0.05 probability that the observed relationship is due to
random chance. Therefore, at a 95% confidence level, it can be concluded that CP has a favorable impact
on CS in the Vietnamese market. This finding underscores the importance of robust consumer protection
measures in fostering positive customer experiences and enhancing overall satisfaction levels.

07.03-BM/ĐT/HDCV/FE 1/0 21/

31
V. Discussion
1. State the main results of the research:

The Sacombank customer satisfaction and perceptions of CSR activity survey yielded
compelling results in a number of areas. According to the sample's demographic profile, there
were significantly more younger respondents—40% were under 25, 26.67% were over 40, and
33.3% were between the ages of 26 and 40—than male participants (46.67%). These
demographic insights emphasise how important it is to include a range of demographic traits
when assessing data and comprehending different groups' perspectives on Sacombank CSR and
its impact on customer satisfaction. In this study, the primary means of collecting data was
questionnaires, which the author used. The structure of the survey's questions was influenced
by earlier studies that were written up in scholarly journals. Accordingly, pertinent survey
questions used a Likert scale with response choices spanning from 1 to 7. This meticulous
approach greatly improved the study's exploratory goals and helped with the analysis of
participant responses. With regard to descriptive measures, the findings showed that all CSR
dimensions were positively viewed by respondents, with consumer protection (CP) receiving
the highest mean score and customer satisfaction (CS) showing very high levels of satisfaction.
CP's mode was notably at its peak, indicating a generally positive sentiment. The calculated p-
value of the regression analysis indicated a statistically significant positive correlation between
consumer protection (CP) and (CS). This illustrates how Sacombank's CSR activities positively
affect customer satisfaction scores in the Vietnamese market, underscoring the significance of
CSR programmes in influencing consumer loyalty and opinions. These findings imply that
VinGroup may use its social responsibility initiatives to boost stakeholder value and market
competitiveness. In order to achieve long-term success and stakeholder value, Vietnamese
businesses should prioritise investments in environmental sustainability, strengthen stakeholder

07.03-BM/ĐT/HDCV/FE 1/0 22/

31
engagement, improve transparency and accountability, and cultivate a culture of social
responsibility. These recommendations are predicated on the hypothesis that CSR should be
incorporated into business strategies.

2. Reflect on the effectiveness of research methods: mainly limitation of your methods

that might lead to a wrong result:

The primary focus of this research is the relationship between Sacombank's CSR and customer satisfaction.
A meticulous survey questionnaire was designed in order to collect quantitative data for this research
endeavour. The investigation used a self-selection sample research approach to ascertain how Sacombank's
CSR initiatives affected customer satisfaction. Although the study was successful in obtaining valuable
quantitative data supported by precise statistics, it is crucial to acknowledge the limitations associated with
the chosen research methodologies. The implementation of quantitative approaches has inherent constraints
that may impact the quality and validity of the data that is gathered. One important constraint of quantitative
research is that it may have limits on the number of people or variables that are explored. This narrow focus
might lead to a distortion or misrepresentation of the findings' interpretation. One such disadvantage is that
survey participants in quantitative research could not always provide accurate or genuine responses, which
might compromise the overall dependability of the data. Moreover, the strict structure found in many
quantitative research methods, including pre-made surveys or questionnaires, could make it more difficult
to look into unexpected occurrences or provide follow-up questions to get additional information from
respondents. These restrictions have an impact on the flexibility of the research design and may influence
our understanding of the correlation between CSR and customer satisfaction. In retrospect, the research
highlights how important it is to consider these limitations, even in cases when quantitative methods provide
valuable data. Future research projects should use qualitative approaches in order to complement the
quantitative results and provide a more comprehensive understanding of the intricate relationships between
CSR and customer satisfaction within Sacombank operations.

07.03-BM/ĐT/HDCV/FE 1/0 23/

31
3. Recommend for future research:

The study demonstrates the effectiveness of qualitative research approaches in supporting complete data
collecting. Researchers may explore the relationship between Sacombank's CSR activities and customer
satisfaction using a variety of qualitative methods. One option is to perform in-depth case studies of
Sacombank firms that have effectively implemented CSR programmes, resulting in high levels of customer
satisfaction. These case studies provide useful insights into the unique methods and procedures that improve
customer satisfaction via CSR efforts, as well as the problems that arise along the process. Additionally,
researchers may conduct interviews with corporate leaders to acquire a more nuanced knowledge of their
viewpoints on the benefits and downsides of Sacombank's CSR programmes. These interviews may look at
how CSR initiatives are managed, procured, and implemented, as well as how they affect the company's
values and organisational culture. Furthermore, using employee-focused groups as a qualitative approach
might give valuable insights into how employees view the advantages and difficulties of CSR initiatives,
including their impact on daily routines and overall work satisfaction. By combining qualitative and
quantitative research methods, academics may get a full picture of the influence of Sacombank's corporate
social responsibility operations on customer satisfaction.

VI. Reference

• Al-Ghamdi, S.A.A. and Badawi, N.S., (2019). Do corporate social responsibility activities enhance
customer satisfaction and customer loyalty? Evidence from the Saudi banking sector. Cogent Business
& Management, 6(1), p.1662932. Available at:
https://www.tandfonline.com/doi/epdf/10.1080/23311975.2019.1662932?needAccess=true ( Accessed
: March 25, 2024 )

07.03-BM/ĐT/HDCV/FE 1/0 24/

31
• Boshoff, C. and Gray, B., (2004). “The relationships between service quality, customer satisfaction
and buying intentions in the private hospital industry. South African journal of business management,
35(4), pp.27-37”. Available at: https://journals.co.za/doi/abs/10.10520/EJC22267 ( Accessed :
March 28, 2024 )

• Bhattacharya, C.B., (2006). “Corporate social responsibility, customer satisfaction, and market value.
Journal of marketing, 70(4), pp.1-18.” Available at:
https://journals.sagepub.com/doi/abs/10.1509/jmkg.70.4.001 ( Accessed : March 27, 2024 )

• Chang, H.H., 2017. “Consumer socially sustainable consumption: the perspective toward corporate
social responsibility, perceived value, and brand loyalty. Journal of Economics and Management,
13(2), pp.167-191”. Available at: https://ideas.repec.org/a/jec/journl/v13y2017i2p167-191.html (
Accessed : March 27, 2024 )

• Crane, A., Matten, D., Glozer, S. and Spence, L.J., ( 2019) . “Business ethics: Managing corporate
citizenship and sustainability in the age of globalization. Oxford University Press, USA”. Available
at:
https://books.google.com.vn/books?hl=en&lr=&id=fcSbDwAAQBAJ&oi=fnd&pg=PP1&dq=Crane+
%26+Matten,+2019)+Business+Ethics&ots=MtcchslZPC&sig=SjBQlgklkbcY0FblCmG8TuS3Tnw&r
edir_esc=y#v=onepage&q=Crane%20%26%20Matten%2C%202019).%20Business%20Ethics&f=fals
e ( Accessed : March 27, 2024 )

• Churchill Jr, G.A. and Surprenant, C., (1982). “An investigation into the determinants of customer
satisfaction. Journal of marketing research, 19(4), pp.491-504”. Available at:
https://journals.sagepub.com/doi/abs/10.1177/002224378201900410 ( Accessed : March 28, 2024 )

07.03-BM/ĐT/HDCV/FE 1/0 25/

31
• Deephouse, D.L. and Suchman, M., (2008). “Legitimacy in organizational institutionalism. The Sage
handbook of organizational institutionalism, 49, p.77.” Available at:
https://books.google.com.vn/books?hl=en&lr=&id=2CIlCwAAQBAJ&oi=fnd&pg=PA49&dq=(Such
man,+1995).+Legitimacy+Theory:+&ots=5qthT7-X-
G&sig=Qemau3tsjZthV5gKisycL4yB2to&redir_esc=y#v=onepage&q=(Suchman%2C%201995).%20
Legitimacy%20Theory%3A&f=false ( Accessed : March 27, 2024 )

• Donaldson, B. and O'toole, T., (2007). “Strategic market relationships: from strategy to
implementation. John Wiley & Sons.” Available at:
https://books.google.com.vn/books?hl=en&lr=&id=5a5Lt9pfs8YC&oi=fnd&pg=PP1&dq=Donaldson
+(2007).Strategic+Market+Relationship.+West+Sussex:+John+Wiley+and+Sons&ots=MWOSjgRPX
e&sig=Dxkn2Ly9f2pKp_lu23elrMUUurU&redir_esc=y#v=onepage&q&f=false ( Accessed : March
26, 2024 )

• Duc (2020)”FINANCIAL INCLUSION, CORPORATE SOCIAL RESPONSIBILITY AND

CUSTOMER LOYALTY IN THE BANKING SECTOR IN VIETNAM “Available at:
https://www.ceeol.com/search/article-detail?id=978560 ( Accessed : March 25, 2024 )

• Elkington, J., (1997). “The triple bottom line. Environmental management: Readings and cases, 2,
pp.49-66”. Available at:
https://books.google.com.vn/books?hl=en&lr=&id=hRJGrsGnMXcC&oi=fnd&pg=PA49&dq=Elkingt
on,+1997&ots=0glxENKufG&sig=yeEEBCU2i5Hm6rZ3fkq8JNXVJzU&redir_esc=y#v=onepage&q
=Elkington%2C%201997&f=false ( Accessed : March 27, 2024 )

07.03-BM/ĐT/HDCV/FE 1/0 26/

31
• Freeman, R.E., Harrison, J.S., Wicks, A.C., Parmar, B.L. and De Colle, S., (2010).” Stakeholder
theory: The state of the art.” Available at: https://books.google.com.vn/books?hl=en&lr=&id=xF8-
WN1QlIMC&oi=fnd&pg=PR7&dq=freeman+1984+stakeholder+theory&ots=ZYvWW-
ty6P&sig=pfRwHVg9U5eFPHSzU-
A4yMrPJSI&redir_esc=y#v=onepage&q=freeman%201984%20stakeholder%20theory&f=false (
Accessed : March 27, 2024 )

• Green, T. and Peloza, J., (2011). “How does corporate social responsibility create value for
consumers?. Journal of consumer marketing, 28(1), pp.48-56.” Available at:
https://www.emerald.com/insight/content/doi/10.1108/07363761111101949/full/html ( Accessed :
March 26, 2024 )

• Jin, N., Lee, S. and Huffman, L., (2012). “Impact of restaurant experience on brand image and
customer loyalty: Moderating role of dining motivation. Journal of Travel & Tourism Marketing,
29(6), pp.532-551”. Available at:
https://www.tandfonline.com/doi/abs/10.1080/10548408.2012.701552 ( Accessed : March 26, 2024 )

• Johnson, M.D. and Fornell, C., (1991). “A framework for comparing customer satisfaction across
individuals and product categories. Journal of economic psychology, 12(2), pp.267-286”. Available
at: https://www.sciencedirect.com/science/article/abs/pii/016748709190016M ( Accessed : March
28, 2024 )

• Jones, F.R., Mardis, M.A., Prajapati, P. and Kowligi, P.R., (2021), “July. Facilitating Advanced
Manufacturing Technicians' Readiness in the Rural Economy: A Competency-based Deductive
Approach. In 2021 ASEE Virtual Annual Conference Content Access”. Available at:
https://peer.asee.org/facilitating-advanced-manufacturing-technicians-readiness-in-the-rural-economy-
a-competency-based-deductive-approach ( Accessed : March 28, 2024 )

07.03-BM/ĐT/HDCV/FE 1/0 27/

31
• Lee, (2018) . “A color‐index‐based empirical algorithm for determining particulate organic carbon
concentration in the ocean from satellite observations. Journal of Geophysical Research: Oceans,
123(10), pp.7407-7419”. Available at:
https://agupubs.onlinelibrary.wiley.com/doi/abs/10.1029/2018JC014014 ( Accessed : March 28, 2024
)
• Luo, X. and Bhattacharya, C.B., (2006). “Corporate social responsibility, customer satisfaction, and
market value. Journal of marketing, 70(4), pp.1-18.” Available at:
https://journals.sagepub.com/doi/abs/10.1509/jmkg.70.4.001 ( Accessed : March 27, 2024 )

• Marin, L., Ruiz, S. and Rubio, A., (2009).” The role of identity salience in the effects of corporate
social responsibility on consumer behavior. Journal of business ethics, 84(1), pp.65-78”. Available at:
https://link.springer.com/article/10.1007/s10551-008-9673-8 ( Accessed : March 27, 2024 )

• Munusamy, J., Chelliah, S. and Mun, H.W., (2010). “Service quality delivery and its impact on
customer satisfaction in the banking sector in Malaysia. International journal of innovation,
management and technology, 1(4), p.398.” Available at:
https://scholar.google.com.vn/scholar?hl=en&as_sdt=0%2C5&as_vis=1&q=Munusamy%2C+J.%2C+
Chelliah%2C+S.%2C+%26+Mun%2C+H.+W.+%282010%2C+Oct.%29.Service+quality+delivery+a
nd+its+impact+on+customersatisfaction+in+the+banking+sector+in+Malaysia.International+Journal+
of+Innovation%2C+Management+andTechnology%2C1%284%29%2C+398–404.&btnG= (
Accessed : March 28, 2024 )

• Nguyen, (2018), “Corporate social responsibility (CSR) in Vietnam: a conceptual framework

“Available at: https://link.springer.com/article/10.1186/s40991-018-0032-5 ( Accessed : March 25,
2024 )

07.03-BM/ĐT/HDCV/FE 1/0 28/

31
• Nguyen, N. and Pervan, S., (2020). “Retailer corporate social responsibility and consumer citizenship
behavior: The mediating roles of perceived consumer effectiveness and consumer trust. Journal of
Retailing and Consumer Services, 55, p.102082”. Available at:
https://www.sciencedirect.com/science/article/pii/S0969698919306794 ( Accessed : March 28, 2024
)

• Oliver, R.L., (1999). “Whence consumer loyalty?. Journal of marketing, 63(4_suppl1), pp.33-44.”
Available at: https://journals.sagepub.com/doi/abs/10.1177/00222429990634s105 ( Accessed :
March 26, 2024 )

• Palmatier, R.W., Dant, R.P., Grewal, D. and Evans, K.R., (2006). “Factors influencing the
effectiveness of relationship marketing: A meta-analysis. Journal of marketing, 70(4), pp.136-153.”
Available at: https://journals.sagepub.com/doi/abs/10.1509/jmkg.70.4.136 ( Accessed : March 26,
2024 )

• Pandey, J., (2019).” Deductive approach to content analysis. In Qualitative techniques for workplace
data analysis (pp. 145-169). IGI Global”. Available at:
https://scholar.google.com.vn/scholar?q=The+Deductive+approach&hl=en&as_sdt=0&as_vis=1&oi=s
cholart#d=gs_cit&t=1711600195874&u=%2Fscholar%3Fq%3Dinfo%3AlTm-
m3c4MhwJ%3Ascholar.google.com%2F%26output%3Dcite%26scirp%3D1%26hl%3Den ( Accessed
: March 28, 2024 )

• Peloza, J., & Shang, J. (2011). “How can corporate social responsibility Activities create value for
stakeholders? A systematic review. Journal of the Academy of Marketing Science “ Available at:
https://link.springer.com/article/10.1007/s11747-010-0213-6 ( Accessed : March 25, 2024 )

07.03-BM/ĐT/HDCV/FE 1/0 29/

31
• Porter & Kramer,(2006). “Public Policy and Private CSR Activities: Complements or Substitutes?”
Available at: http://feemdeveloper.net/attach/CSR2007-022.pdf ( Accessed : March 27, 2024 )

• Quyet, (2015), “Service Quality Effects on Customer Satisfaction in Banking Industry” Available at:
https://www.researchgate.net/profile/Tran-
Quyet/publication/287107501_Service_Quality_Effects_on_Customer_Satisfaction_in_Banking_Indu
stry/links/57754ef308aead7ba06ffcef/Service-Quality-Effects-on-Customer-Satisfaction-in-Banking-
Industry.pdf ( Accessed : March 27, 2024 )

• Sen, S. and Bhattacharya, C.B., (2001). “Does doing good always lead to doing better? Consumer
reactions to corporate social responsibility. Journal of marketing Research, 38(2), pp.225-243”.
Available at: https://journals.sagepub.com/doi/abs/10.1509/jmkr.38.2.225.18838 ( Accessed : March
26, 2024 )

• Ueltschy, L.C., Laroche, M., Eggert, A. and Bindl, U., (2007). “Service quality and satisfaction: an
international comparison of professional services perceptions. Journal of Services Marketing, 21(6),
pp.410-423”. Available at:
https://www.emerald.com/insight/content/doi/10.1108/08876040710818903/full/html ( Accessed :
March 28, 2024 )

• Vo, D.H., Van, L.T.H., Dinh, L.T.H. and Ho, C.M., (2020). “Financial inclusion, corporate social
responsibility and customer loyalty in the banking sector in Vietnam. Journal of International Studies
(2071-8330), 13(4).” Available at: https://www.ceeol.com/search/article-detail?id=978560 ( Accessed
: March 28, 2024 )
• Webb, D.J., Mohr, L.A. and Harris, K.E., (2008). “A re-examination of socially responsible
consumption and its measurement. Journal of business research, 61(2), pp.91-98”. Available at:
https://www.sciencedirect.com/science/article/pii/S0148296307001634 ( Accessed : March 26, 2024
)

07.03-BM/ĐT/HDCV/FE 1/0 30/

31
• Yadav, M.K. and Rai, A.K., (2015). “Exploring the relational impact of service quality on customer
satisfication. Ushus Journal of business management, 14(4), pp.17-31.” Available at:
https://journals.christuniversity.in/index.php/ushus/article/view/1440 ( Accessed : March 26, 2024 )

• Zinkhan, G.M. and Braunsberger, K., (2004). “The complexity of consumers' cognitive structures and
its relevance to consumer behavior. Journal of Business Research, 57(6), pp.575-582”. Available at:
https://www.sciencedirect.com/science/article/abs/pii/S014829630200396X ( Accessed : March 28,
2024 )

07.03-BM/ĐT/HDCV/FE 1/0 31/

31