Awareness of corporate culture lacking

4.0 Industrial Revolution Corporate Culture Forum held in Hanoi on October 3.

Sixty-three per cent of respondents in discussions at the 4.0 Industrial Revolution Corporate Culture Forum in Hanoi on October 3 said they recognized a key factor behind unsuccessful corporate culture models as being a lack of deep awareness about corporate culture and its role in the enterprise.

The forum was held by the Vietnam Chamber of Commerce and Industry (VCCI), the Hanoi Association of Women Entrepreneurs (HNEW), and Deloitte Vietnam, with 200 people in attendance, including local experts and enterprises and associations.

In the survey, 21 per cent of respondents said the key factor is a lack of a clear vision about corporate culture; 21 per cent said a lack of tools and methods to build a corporate culture; and 12 per cent a lack of patience and effort in the process of building a corporate culture. Dr. Vo Tri Thanh, a local expert, said that awareness is the key reason for this and, as the technology era develops, people are the biggest influencers in building a successful corporate culture.

“Small and medium-sized enterprises can seize the opportunities from Industry 4.0 if they are aware that corporate culture is a core value in the enterprise’s competitive capacity and helps them develop sustainably in this era,” said Ms. Ha Thu Thanh, Chairwoman at Deloiite Vietnam.

Dr. Vu Tien Loc, Chairman of VCCI, said an enterprise’s sustainable development depends not only on investing in technology but also on corporate culture. “Building a corporate culture 4.0 will help harmonize and create good interaction between people and robots at work and utilize the opportunities from Industry 4.0,” he said.

Mr. Gian Tu Trung, President of the IRED Institute of Education in Vietnam and Director of the PACE Institute of Leadership and Management (PACE) said that an industrial revolution not being accompanied by a cultural revolution would be a disaster, as the digital era is fluctuating and difficult to conceive, so everything must be redefined. “A successful enterprise is one spending 80 per cent of the time on building a corporate culture and 20 per cent on building its business strategy,” he said. “Meanwhile, most Vietnamese enterprises are doing the opposite.”

Mr. Le Phung Thang, CEO of Citicom Commercial JSC agreed with Mr. Trung about basic cultures at a company, and added that adaptive culture is also important for each employee and leader in Industry 4.0. The Hien Le Trading and Service Co., Ltd, an electric component supplier of Canon and Apple, is a typical case. Ms. Nguyen Thi Bao Hien, Chairwoman and CEO, said they have always been a pioneer in modern technology to ensure international-standard products meet the requirements of major multinational corporations. “This requires myself and all my employees adjust and adapt to constant changes,” she said.

[Source: vneconomictimes.com 4th October 2018]