The first-ever EuroCham Business Awards are taking place this November. To find out more about the awards, and what our judges are looking for, we asked one of our panel to answer five quick-fire questions in the first of our “Meet the Judges” series.
Nika Salvetti is Visiting Professor at the Maastricht School of Management. Her research interests include Corporate Social Responsibility (CSR) and sustainability in business. Professor Salvetti’s work has taken her around the world, including to Bangladesh, Uganda, Indonesia, Serbia, and now Vietnam.
We asked Professor Salvetti for her thoughts on the EuroCham Business Awards, what she thinks European companies bring to Vietnam, and what impact European business has had on Vietnam over the last few decades. She also shared her top-tips for companies entering the EuroCham Business Awards, and discussed the qualities she is looking for in contenders.
Why are the EuroCham Business Awards Important?
It is a way to set the role model of 'good' (responsible and sustainable) companies for others to follow. It also provides ideas and business cases that show how being sustainable can also be profitable and rewarding.
What do European Companies Bring to Vietnam?
European companies follow the guidelines of the European Commission and agreements on 'how to carry out responsible and sustainable business'. Lately, with the emphasis of the EU on CSR, sustainability, and more recently on the circular economy, there is a "European" attention on promoting sustainable and responsible business along the supply chain.
How Have European Companies Changed Vietnam Over the Last Two Decades?
European companies have changed Vietnam by showing the best way to address sustainable challenges in a business pro-active and creative way.
What Qualities Are You Looking for in the Awards?
Companies that can distinguish themselves for addressing the most impactful sustainability and responsibility challenges in Vietnam:
Environmental impacts (water management; waste management; pollution; soil erosion; etc.)
Social impacts (labour conditions; income distribution; cultural diversity; safety and security in production; etc.)
Governance/political impacts (corruption and bribery)
Economic impacts (creating shared values and providing opportunities to local SMEs/communities to flourish)
What “Top Tips" Would You Give to Companies Hoping to Stand Out from the Competition?
Demonstrating how they tackle the triple bottom line (respect to the environment, society, local economy, and good governance while making profit);
Showing the best practices in terms of environmental sustainability and labour working conditions (beyond minimum salary);
Sharing innovative ideas to address sustainable challenges (i.e. what are they doing to reduce plastic waste?; How they ensure tracking and traceability along the supply chain of their products?; How they contribute to society through their business?)
Quantify the socio-economic and, if possible, environmental impacts of their operations in Vietnam (amount of tax paid to the Vietnamese Government; number of employees; local SMEs generated by their operations; water and waste footprint, etc.)
To find out more about the EuroCham Business Awards, including how to make a nomination, just click here.
