The last issue of Vietnam Economic Times focuses on Corporate Social Responsibility and how community engagement activities can benefit to all. Ms Clemence Aron, our CSR Project Manager shared insights about how being a responsible business can benefit foreign companies when addressing a young population of consumers eager to act responsibly. Both businesses and consumers have developed a sense of responsibility.
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CSR is becoming a hot topic among the emerging middle class and more specifically among the young generation. There is a willingness from youth to deliver a positive impact on society. The major challenge for foreign businesses when willing to implement CSR is to manage to follow the groups’ guidelines and adapt their strategy to the very dynamic business environment and well integrate it into their multicultural organization. Businesses are striving to efficiently implement their CSR approaches, to create positive social and environmental impact as well as efficient policies enhancing the organizational performance. Engaging employees in CSR activities seems to be a key driver of job engagement and company performance.
Today businesses are paying attention to the concept “Creating Shared Value” (CSV). Economic benefits should not be considered as the only factor for value creation; societal issues should be approached from a value perspective and not considered as an optional concern. The company creates a social value position into the core business strategy. This concept could be the future of CSR in Vietnam, helping MNCs building their social responsibility aligned with their core strategy and enhancing sustainable development in the country.
Read this article extracted from the June issue of Vietnam Economic Times “Community engagement: CSR activities to the benefit of all”:
Source : Vietnam Economics Times, June 2018