Building Business Culture in Vietnam

 

After 16 years’ operation of its economy under the socialism-oriented market mechanism, a proportion of Vietnamese businesses have grown up strongly. The profound reason for the fast growth is that Vietnam enterprises attach more importance to business culture, said Mr. Dao Duy Quat, second chief of the Central Ideology and Culture Committee, and the editor-in-chief of the Dang Cong San Viet Nam electronics newspapers.

 

At present, there is no official full research in corporate culture and the business culture construction in the Vietnamese business community but Vietnamese enterprises have developed their own business culture. This is proven by outer statistics such trademark and business partners’ trust. VCCI Chairman Vu Tien Loc said, many enterprises actually sown its image as well as reliability in the heart of international partners. Pierre Cardin An Phuoc, Trung Nguyen Coffee, Thai Tuan Silk, Rang Dong Light Source & Vacuum Flask and Mai Linh Taxi are exemplary trademarks.

Rang Dong Light Source and Vacuum Flask Joint Stock Company had to suspend production for six months in 1989 due to unfavourable factors. However, the company’s workforce began enriching their political sense, business knowledge, corporate culture and skill improvement to master new technologies and consolidate the solidarity. After its operational resumption, the company could introduce many new products on the market. Rang Dong bulbs and vacuum flasks reoccupied its northern traditional market and took a proportion of southern market share. Its efforts have bee recognized with the “Labour Hero in the Renovation Process” Title.

 

Another example is Mai Linh Taxi Corp. since its foundation; Mai Linh took initiative in building up corporate culture by opening courses to foster knowledge for its staff and transferring the culture value of the company to all staff generations. Mr. Ho Huy, Chairman of Mai Linh, said: “The success of an enterprise does not depend on capital size or technological level but personnel organisation. A person can get riches without initial capital but cannot succeed without culture. An enterprise needs recognition and confidence to build up its corporate culture.”

 

Apart from good examples, not a few companies and employers are doing business with dirty tricks. Such ways can make them rich quickly but soon become penniless or even jailed. Many companies bought new equipment and renew technology to avoid being backward, but, unluckily they did not pay due attention to fostering cultural virtue for their staff. Certainly, old people and backward knowledge hardly handle new technologies and equipment.

 

After Vietnam opened its economy, numerous giant construction companies like Company No. 18, Vinaconex, Licogi and even local firms in Hanoi, Danang and Ho Chi Minh City won several projects in Laos and Cambodia. However, the value of their individual projects never exceeds US$50 million. To date, not many Vietnamese companies can win bids for construction projects in other countries. It is a shameful figure for giant companies in a country with the commercial relationship with nearly 200 countries and territories. Cao Sy Kiem, deputy direct or Central Party’s Economic Committee and chairman of Vietnam Small and Medium Enterprise Association, said: apart from inferior financial capacity and technology to foreign rivals, Vietnam are also badly-reputed for unclear information and financial situations while the auditing and accounting level is very low. He affirmed that if Vietnam wants to integrate successfully, it companies must build up corporate culture and business culture.