"Core values" nourishes the enterprise

A company needs a strong cultural value system to guide all of its operations; it cannot expand only on earnings.

- The firm will grow sustainably if entrepreneurs have a solid ethical base and a strong business culture. How do you think business culture and ethics contribute to the long-term growth of businesses, sir?

In my opinion, a company's core values are rooted in business culture and entrepreneurial ethics, and it cannot survive on only earnings or good business practices. That is the foundation that sustains a company's long-term growth. Even if a firm experiences short-term success, it will eventually weaken and run the danger of collapsing if ethics are compromised and corporate culture is opaque.

Businesses with a solid ethical base are frequently more resilient to changes in the market, as reality has shown. They were able to weather the storm and keep growing strong because they had the confidence of their partners, the companionship of their employees, and the support of their consumers when the crisis struck.

Therefore, the word "ethics" cannot be disregarded when it comes to a business's sustainability. In addition to being successful, businesses run by entrepreneurs who keep a clear mind and act responsibly and sincerely will be as resilient to market fluctuations as a house with a solid foundation.

- How could entrepreneurs train and strengthen their core values, sir, to create, grow, and perfect business ethics and culture inside enterprises?

First and foremost, we need entrepreneurs who put moral principles first to develop a sustainable economy. A company needs a solid set of core values to guide all of its operations; it cannot expand only on earnings. The most crucial qualities for entrepreneurs are resilience, a sense of responsibility, and an awareness of their social responsibility in addition to managerial abilities and expertise in business.

Entrepreneurs must first and foremost develop their own ethics in order to do this, as the business culture is reflected in their character. They must treat partners and employees fairly, be honest in business, be upfront in their financial dealings, and, most importantly, show a sense of community responsibilities. Businesses cannot thrive if they prioritize their own interests over the welfare of society and their obligations to clients, employees, and the nation.

- What kind of policies are needed to support businesses, especially SMEs, to encourage development according to ethical and social standards, sir?

Policy support is crucial for firms to pursue sustainable development and integrity. Support policies are even more crucial for SMEs, which are pillars of the economy that confront several obstacles. The central government must provide a transparent and equitable economic climate to protect legitimate enterprises from unfair competition. To motivate companies to invest in innovation and raise the quality of their goods and services in a sustainable and socially responsible way, tax incentives and preferential loans are required.

Education and awareness-building around business ethics should also be prioritized. Clear ethical guidelines are also necessary for business associations to provide a benchmark that entrepreneurs may aspire to.

It takes more than a day or two to develop an ethical team of entrepreneurs and a transparent business culture. The patience of every entrepreneur, the backing of society as a whole, and the appropriate sort of support from the central government have all been necessary for this lengthy trip.

- Few people understand that business culture is what actually creates a long-lasting difference between businesses, sir, even if we frequently discuss intense rivalry, growth needs, and integration challenges.

A good business strategy may help a corporation thrive, but for it to last, it needs a strong business culture that is based on honesty, respect for clients, equity for workers, and social responsibility. These principles are what enable companies to acquire trust, which is a priceless resource that cannot be purchased with cash.

Examine the top firms in the world, or even well-known Vietnamese brands; they all have a clear, responsible, and transparent business culture along with offering excellent goods and services. In addition to selling goods, they also spread a message and foster client trust. Businesses that have a sustainable business culture not only draw in clients but also keep talented employees, fostering an atmosphere where everyone feels appreciated and contributes to something more than just making money.

In the context of further integration, business culture is even more important for Vietnamese companies. We cannot rely on short-term benefits at the expense of long-term values, nor can we compete on cheap pricing indefinitely.

Vietnamese companies can only succeed by establishing a robust business culture that is motivated by responsibility and ethics. Only then will they be able to dominate both the home market and the global arena.

Therefore, business culture cannot be disregarded while discussing a company's success. It's not just a catchphrase to put on a show; rather, it's a beacon of hope and a strong basis for any company to advance, stay on course in the face of obstacles, maintain steadfastness, and grow sustainably over time.

Thank you very much!