Corporate culture "lighting the way" for sustainable development

	Economic difficulties reduce the level of investment in corporate culture
	Corporate culture "lights the way" for sustainable development

Corporate culture is an intangible asset that helps build brands and fosters sustainable growth. Photop: H. Diu

Corporate culture as the "soul" of branding

In October 2023, the Politburo issued Resolution No. 41-NQ/TW on building and promoting the role of the Vietnamese business community in the new era (Resolution 41). The resolution emphasizes the task of developing business ethics and culture, promoting national spirit, and igniting the aspiration for a prosperous and happy nation. It underscores the importance of ethics and business culture as core elements, advocating for the rule of law and enhancing the role of entrepreneurs in economic diplomacy, public relations, and promoting Vietnam’s image, people, and culture. It also encourages businesses to fulfill social responsibilities.

To implement these objectives, various ministries have developed and executed action programs. Recently, one of the tasks outlined in Resolution No. 66/NQ-CP dated May 9, 2024, from the government’s Action Program for implementing Resolution 41, is to build business ethics and culture, promote national spirit, and ignite the aspiration for a prosperous and happy nation.

Corporate culture is regarded as a spiritual asset, the "soul" that helps build a brand, identity, and competitiveness, driving business growth towards sustainable development. To enhance the values of ethical culture, pioneering spirit, compliance with the law, transparency, fairness, and integrity within the business community, the government has tasked the Ministry of Culture, Sports, and Tourism to collaborate with the Vietnam Chamber of Commerce and Industry (VCCI) to develop a proposal on ethical and cultural business standards that align with national identity and embrace global business cultural excellence. Ministries, localities, and business associations are to enhance awareness among entrepreneurs and enterprises about adhering to ethical business standards, respecting national identity, social responsibility, and environmental protection; and upholding the rule of law.

At VCCI, the action program for implementing Resolution 41 includes tasks to promote the spirit of entrepreneurship and business ethics within the business community by sharing lessons and examples of distinguished entrepreneurs, especially those honored with titles like “Outstanding Vietnamese entrepreneur” and “Outstanding Vietnamese female entrepreneur.”

A core for sustainable development

With the objectives and tasks set by various levels and sectors, Vietnamese businesses are striving to make business culture the foundation for stronger and more sustainable development.

Pham Hong Diep, Chairman of the Board of Directors of Shinec Corporation, stated that corporate culture was the core for sustainable development. "From a business culture of honesty and ethics, we have built our unique corporate culture," said Diep.

Shinec has been developing for nearly 23 years across various sectors, from shipbuilding to industrial park infrastructure development. According to Diep, in any business sector, Shinec prioritizes the interests of its partners and customers, which has led to significant progress, especially in infrastructure investment and business.

Dinh Thi Thuy, CEO of MISA Corporation, said that corporate culture was the factor that unites resources within the organization, bringing everyone together with a common direction and aspiration. MISA has established ten external and eight internal conduct rules, helping MISA employees develop good cultural habits, create a learning, proactive, and creative work environment, and act responsibly. Thuy emphasized that building corporate culture always starts with the cultural and ethical example set by the leader.

Nguyen Van Be Ba, Director of Ca Mau Gas Company (part of PV GAS), noted that the requirement to build corporate culture was a timely and correct policy that helps businesses create competitive advantages, built unique cultural identities, and foster a positive and effective work environment, enabling employees to maximize their potential and remain committed to the company.

A recent report on promoting the learning and application of Ho Chi Minh’s ideology, ethics, and style from the Central Business Bloc Party Committee showed that 38/38 enterprises, agencies, and units have built corporate and workplace culture. Many companies have created corporate culture content and structures with innovative and sector-specific methods suitable for their production and business activities. This is a distinctive feature that creates each company's brand. Additionally, many businesses and banks in the bloc continue to lead in social welfare activities.

However, experts pointed out that a segment of entrepreneurs still lacked business ethics, cultural awareness, legal compliance, social responsibility, and national spirit. Some violate the law, collude with corrupt officials, and pursue personal gain, causing damage to the state and eroding public trust. This has led to the discovery and prosecution of many major corporate-related cases. Moreover, the high number of businesses dissolving in the first months of 2024 indicates the unsustainable nature of the domestic private sector.

These issues are just “one drop of poison infects the whole of wine,” so promoting business culture and ethics remains a crucial solution. According to experts, alongside adhering to regulations and established rules, businesses and entrepreneurs need to continue learning, raising awareness, and improving their understanding. Furthermore, authorities should enhance support measures, effectively implement policies, and guide entrepreneurs to stay on the right path, building businesses on a foundation of sustainable culture and actively contributing to international integration.