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Business culture and ethics key to success

Released at: 11:35, 19/09/2018

Business culture and ethics key to success

Photo: Ngoc Lan

Hanoi workshop hears of importance of business culture and business ethics in competitiveness.

by Ngoc Lan

Business culture and business ethics are key factors in a market economy and determine the success and sustainability of businesses, the “Business Culture and Business Ethics” workshop held on September 18 in Hanoi heard.

Experts said that Vietnamese enterprises face both opportunities and challenges that require they enhance their competitiveness not only in capital, business strategy, technology, productivity, quality, efficiency, and products but also in reputation, branding, and business ethics.

Mr. Pham Duc Binh, CEO of the BNC Vietnam Technology JSC, told the workshop that building a corporate culture is an essential task for sustainable development. Leaders, he added, are decisive in the behavior of all members of the business.

Mr. Le Minh Tuan, CEO of Team Up, said the sad fact is that society expects businesses to be ethical but the business environment is simply not healthy and lacks transparency, making it difficult for those businesses that seek to adopt ethical practices and possess a positive culture.

Sharing Sweden’s experience in building a business culture and business ethics, Mr. Johan Alvin, Second Secretary at the Embassy of Sweden, said the factor that helps them succeed in this regard is not about the business environment but in the organization. “We want to create an environment without boundaries between individuals,” he said. “When making difficult decisions, we encourage all employees, partners and colleagues to take the initiative. We strive to create a balance between work and life for each individual as a comfortable environment enables us to think well and be creative.”

Economic experts, business leaders, and a number of startups focused on two topics at the workshop: “How to make corporate culture not just a slogan” and “Strengthening business ethics and increasing brand credibility”.

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