Building business culture: a foundation for sustainable development

Saturday, Oct 21, 2023 07:07

Workers at Giang Điền Industrial Zone in the southern province of Đồng Nai's Trảng Bom District. — VNA/VNS Photo Hồng Đạt

Developing a sustainable business culture that helps increase competitiveness is important for Việt Nam's prosperity, heard attendees at the Multi-Stakeholder Forum (MSF) 2023 held in Hà Nội yesterday.

The forum was themed: “Utilising the power of Việt Nam's business culture towards sustainability and competitiveness in times of change”.

In particular, in the context of the world's increasingly complex fluctuations, awareness and promotion of cultural advantages play a pivotal role in shaping Việt Nam's future as a responsible business community and emerging economy with aspirations to become even stronger in the future.

Speaking at the forum, Phạm Tấn Công, President of the Việt Nam Chamber of Commerce and Industry, said: “The role and importance of businesses and entrepreneurs in society are increasingly being recognised as essential conditions for the gradual revival and development of Việt Nam's business culture. Business culture is undergoing certain changes, aiming towards sustainable development and responsible business practices. This requires businesses to adapt and adjust promptly, thereby becoming reliable partners, fostering creativity, innovation, and a willingness to co-operate.”

Phan Văn Anh, Vice President of the Việt Nam General Confederation of Labour, said: “The Việt Nam General Confederation of Labour views this as a highly practical issue, in line with the trend and deepening integration of Việt Nam into the international community in all areas. It meets the expectations and desires of all agencies, partners, businesses, workers, and trade union organisations. If implemented effectively, this will help build the image and significantly enhance the competitiveness and sustainable development of the Vietnamese business community.”

“It will also play a crucial role in enhancing Việt Nam's position and capacity on the international stage, realising the aspiration for a prosperous and happy nation. The importance of business culture for the development of a nation is immense. Business culture not only benefits businesses but also helps state management agencies regulate the behaviour of business entities in areas where legal gaps exist. Business culture also helps citizens develop a healthy consumer culture and engage responsibly in economic relations with businesses and the State,” he added.

“Workers are an important subject in business culture in general and organisational culture in particular. Therefore, as a representative organisation protecting workers in Việt Nam, the Việt Nam Confederation of Labour is always committed to and ready to cooperate with all relevant parties to discuss and identify areas for improvement and propose effective solutions that promote Việt Nam's business culture towards competitiveness and sustainability.”

Speaking at the event, Choi Joo Ho, President of Samsung Vietnam, shared insights on the efforts to build a people-centred corporate culture: “In recent years, the multi-stakeholder forum has become a platform for knowledge exchange, sharing experiences, learning, constructive dialogue, and promoting a common vision among stakeholders for the sustainable development of Việt Nam. In the future, we are committed to nurturing this collaborative effort for the collective prosperity of all.”

“As a member of the Responsible Business Alliance (RBA), Samsung Vietnam prioritises the protection and respect of labour rights for both Samsung employees and workers at our partner companies. Samsung's core values such as 'People,' 'Excellence,' 'Change,' 'Integrity,' and 'Co-prosperity' are ingrained at all levels of management and among Samsung employees. The quality of our organisation is regularly assessed through the Samsung Culture Index, with the participation of all levels of management and employees. This process helps us identify strengths and weaknesses in our organisational culture, optimise strengths, and proactively address existing challenges in our corporate culture. Samsung continually works to ensure that employees and workers can operate in a safe and conducive work environment, contributing to the shared prosperity of society.”

Not only does it affirm distinct cultural imprints and promote competitive advantages, but the Vietnamese business community and workers also need to integrate global values, including ethical business standards, and promote global co-operation even more rapidly. This integration will help create products and services suitable for various markets, thereby contributing to promoting the creation of new values and being highly adaptable to the changes of the times.

MSF 2023 introduced, for the first time, a contemporary study on "Identifying Việt Nam’s business culture and implications for sustainable development and competitiveness". The study received professional feedback from leading experts based on surveys and the application of international research approaches and results to Việt Nam's conditions. The outcomes of the research are expected to bring new perspectives to managers and planners in promoting a business culture that is unique, modern, and highly adaptive. It is also foreseen as useful for businesses, trade unions, and workers in managing business goals through refining organisational culture and corporate culture.

The event attracted over 500 delegates, representing government agencies, ministries, branches, non-governmental organisations, social organisations, associations, businesses, research agencies, universities, trade unions, and interested experts who participated both online and in person.

MSF is an initiative of Samsung Vietnam, first organised in 2018. Through the forum, co-organisers aim to collaborate with government agencies, labour unions, social organisations, businesses, and individuals interested in promoting meaningful discussions and actions for the sustainable development and prosperity of Việt Nam. — VNS

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