THE DEVELOPMENT OF CSR IN VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY VINAMILK

MINISTRY OF EDUCATION & TRAINING HOCHIMINH CITY UNIVERSITY OF TECHNOLOGY ASSIGNMENT REPORT THE DEVELOPMENT OF CSR IN VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY- VINAMILK Instructor (Lecturer) : MSc Nguyen Ngoc Duy Phuong Student’s name : Ha Quoc Chinh Student ID: 2155010008 Course code: BMOM5203 Course title: ORGANISATION AND BUSINESS MANAGEMENT Ho Chi Minh City, 2021 0 TABLE OF CONTENTS CHAPTER 1: THE THEORETICAL BASIS OF CSR 1.1 Some concepts related to CSR: 1.2 Overview of CSR 1.3 Reasons that businesses perform social responsibility 1.4 Conclusion CHAPTER 2: IMPLEMENTATION OF SOCIAL RESPONSIBILITIES AT VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY VINAMILK 2.1 Overview about Vietnam Dairy Products Joint Stock Company Vinamilk 2.2 Current status of CSR implementation at Vinamilk 2.2.1 For partners, shareholders, investors: 2.2.2 For staff/ for employees: 2.2.3 For customer/consumer: 2.2.4 Suppliers: 11 2.2.5 For environment/ Social: 12 2.3 Vinamilk CSR implementation budget: 13 2.4 Evaluate the implementation of CSR of Vinamilk 14 2.4.1 Economics responsibilities: .14 2.4.2 Legal responsibilities: .15 2.4.3 Ethical responsibilities: 15 2.4.4 Philanthropic Responsibilities: 15 CHAPTER 3: RECOMMENDATIONS FOR ADVANCED CSR 16 REFERENCES .19 0 CHAPTER 1: THE THEORETICAL BASIS OF CSR Corporate social responsibility: is known as one of the factors that make a lot of benefits for businesses such as increasing sales, profits, reducing turnover, or expanding market development opportunities Corporate social responsibility is not a new concept and on the world level, since the 1980s, CSR has become an important strategy in the development process of enterprises each company Since then, CSR has gradually proved its great role in the overall development of enterprises as well as in harmony with the interests of society Therefore, the concept of CSR is receiving more and more attention and investment from businesses 1.1 Some concepts related to CSR: “CSR is an enterprise's commitment to contribute to sustainable economic development, through jobs that improve the quality of life of employees and members of their families; community, and society as a whole, in a way that benefits both businesses and society as a whole” (What Is Corporate Social Responsibility?, n.d.) As the market competition is getting more and more fierce, the requirements and demands from customers are getting higher and higher, and therefore, society has an increasingly strict view of businesses about their obligations and responsibilities to the community In order to achieve sustainable development in society, businesses that want to develop sustainably must always adhere to not only standards on ensuring production business must be profitable, even super-profitable, but also standards on environmental protection nature, working environment, gender equality, occupational safety, labor rights, training and development benefits of employees, contributing to community development, including practical activities social security, humanitarian, charity, (Woods, 2018) (“Corporate Social Responsibility for Your Business,” 2018) 1.2 Overview of CSR - Economic responsibility: profit maximization, competitiveness improvement, business efficiency, and growth are prerequisites This is natural because the business is established first of all to seek profit from the entrepreneur Besides, business is a 0 component of society, so business functions need to be prioritized and put on top It can also be said that economic responsibility is a fundamental element and the remaining responsibilities must be based on the economic responsibility of the enterprise (What Is Economic Responsibility | IGI Global, n.d.) (Learn About Economic Model Of Social Responsibility | Chegg.Com, n.d.) - Legal responsibility: also known as the responsibility to comply with the law is a part of the commitment between businesses and society The State has the responsibility to encode social and ethical rules and standards into legal documents Enterprises, on that basis, will pursue their economic goals based on the standards and rules in the promulgated laws Along with economic responsibility, legal responsibility is the two fundamental, most basic, and indispensable parts of CSR (Corporate Social Responsibility [CSR] Law and Legal Definition | USLegal, Inc., n.d.) - Ethical responsibility: these are standards and rules that are recognized by society but not yet present in legal documents Social norms are always changing and therefore legal policies can only be followed during this transformation Therefore, the law cannot fully reflect the requirements of the codes of conduct of society Therefore, the responsibility to comply with the law is the minimum requirement for businesses In addition, businesses also need to fulfill obligations and rules beyond the law or ethical responsibilities Ethical responsibility is voluntary for all businesses but is central to CSR (e.g., implementation of weekends, payment for overtime workers, reputation for customers), cooperation, good relationship with customers…) (Writer, n.d.) (Ethical Responsibility | Global Learning Qualifications Framework | SUNY Empire State College, n.d.) - Philanthropic responsibility: are the activities of the business that have exceeded the expectations of the society Some examples are giving gifts to orphans, sponsoring scholarships for students, etc Charitable responsibilities are different from ethical responsibilities in that, businesses perform this responsibility "completely voluntarily" If businesses not implement CSR to this extent, they are still considered to have fully fulfilled their social responsibility (Philanthropic Responsibility - PDF, 0 n.d.) (Iwannanda et al., 2017) (Ethical And Philanthropic Responsibility - Myassignmenthelp.Com, n.d.) (Thacker, 2019) (Corporate Social Responsibility (CSR), n.d.) 1.3 Reasons that businesses perform social responsibility The activities performed the most and are almost considered a common standard that every business need: Environmental protection, waste treatment by standards to ensure rights and benefits for employees; producing products that are safe for consumers, and fulfilling obligations to suppliers; ensuring the interests of shareholders Businesses that perform well on social responsibility will create more competitive advantages for themselves (5 Reasons Why Social Responsibility Matters in Business, 2013) An enterprise is like an individual, if it wants to survive and thrive, it cannot only think for its benefit but must strive to bring benefits to society Business and society are two inseparable categories, it always supports and promotes each other's development (Horoszowski, 2015) (Arguments for and against Social Responsibility of Business, n.d.) 1.4 Summary The content of CSR includes many aspects related to the behavior of businesses towards relevant subjects and objects in the process of business operations, from producers, marketers, consumers, and consumers to local suppliers of raw materials and materials; from officers, employees to shareholders of the enterprise In which, there is both responsible for the protection of natural resources and the environment, but in fact, it is also a common responsibility for the interests of the community and society, including humanitarian activities, charity activities, donation activities for the general development of the country 0 CHAPTER 2: IMPLEMENTATION OF SOCIAL RESPONSIBILITIES AT VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY VINAMILK 2.1 Overview about Vietnam Dairy Products Joint Stock Company Vinamilk The company was established in 1976 based on taking over dairy factories left by the old regime, including Thong Nhat dairy factory (formerly Foremost factory); Truong Tho Dairy Factory (formerly Cosuvina Factory); and Dielac Powdered Dairy Factory (Nestle) The company's head office is at No 10 Tan Trao Street, Tan Phu Ward, District 7, Ho Chi Minh City The organizational structure includes 17 affiliated units and one office The total number of employees is 4,500 people Vinamilk mainly operates in the field of production and trading of milk and dairy products including liquid milk, powdered milk, condensed milk, yogurt, ice cream, cheese, currently Vinamilk has developed a beverage segment Vinamilk's products are mainly consumed in the Vietnamese market (accounting for 75% of the domestic dairy market) and also exported to foreign markets such as Australia, Cambodia, Iraq, the Philippines, and the US With its efforts, Vinamilk has become the leading dairy producer in Vietnam in terms of both sales and output Vinamilk was voted top largest enterprises in Vietnam, top 200 largest enterprises in Asia Vinamilk has achieved these results because of having the right vision and business philosophy: - Vision: "To become the number one belief symbol in Vietnam about nutrition and health products serving human life" - Mission: “Vinamilk is committed to providing the community with the best and most quality nutrition with its respect, love, and high responsibility for human life and society” - Core values: + Integrity: Integrity, Honesty in conduct and all transactions; + Respect: Respect yourself, respect your colleagues, respect the company, respect your partners, cooperate in respect; 0 + Fairness: Be fair to employees, customers, suppliers, and other stakeholders; + Compliance: Comply with the Law, the Code of Conduct, and the Company's regulations, policies, and regulations; + Ethics: Respect established standards and act ethically - Business Philosophy: Vinamilk wishes to become the most popular product in all regions and territories Therefore, the company always keeps in mind that quality and creativity are Vinamilk's companions Vinamilk considers customers as the center and is committed to meeting all needs of customers Towards the goal of becoming one of the Top 30 largest dairy companies in the world in terms of revenue (Chiến lược phát triển | Vinamilk Việt NamChiến lược phát triển | Vinamilk Việt Nam - Vinamilk , n.d.-a) (Công ty Vinamilk | Vinamilk Việt Nam - Vinamilk, n.d.) (Lịch sử phát triển | Vinamilk Việt Nam Vinamilk, n.d.) 2.2 Current status of CSR implementation at Vinamilk Vinamilk soon put action programs into CSR implementation through the implementation of Vinamilk's Code of Conduct Although it was not until January 2010 that Vinamilk's Code of Conduct was officially applied in the entire company But, many years ago, Vinamilk actively implemented policies related to CSR and was later included in the Company's Code of Conduct Such policies include the company's policies towards shareholders, investors, and employees, policies towards suppliers, customers, and consumers; policies towards the environment and the community (14479266235de3a6cc3ae07fc9ec8e0cef7b1d74ba5bb0e7de0512377edfe83cca2c725c73.Pdf, n.d.) 2.2.1 For partners, shareholders, investors: Vinamilk's viewpoints and policies: Vinamilk always keeps in mind that respecting mutual benefits is an important and essential motto in Vinamilk's relationship with partners, investors, and shareholders Whereby: 0 • Partners: Vinamilk is committed to respecting the interests of partners and making efforts to protect assets and human resources participating in cooperation, joint ventures, and association • Investors: Vinamilk is committed to creating equal investment opportunities for all investors in exchanging and disclosing information and creating a transparent business environment by publicizing the investor selection process • Shareholders: Vinamilk's principle is to consider the interests of shareholders as its own Vinamilk is committed to the fair and honest treatment of partners, investors, and shareholders All partners, investors, and shareholders are provided with information from the Company in the most honest way At the same time, Vinamilk is committed to ensuring the confidentiality of private information of partners, investors, and shareholders, except for cases required by law enforcement agencies (VnExpress, n.d.) (Nhà cung cấp Vinamilk | Vinamilk Việt Nam - Vinamilk, n.d.) Vinamilk action program: Vinamilk ensures to fulfill its commitments by providing the most transparent and honest financial statements and annual reports to partners, investors, and shareholders Vinamilk has been maintaining an information channel to investors, partners, and shareholders through the annual general meeting of shareholders; post information for them through the website http://vinamilk.com.vn/; regularly send news-letters to them and the company maximizes the role of the Investor Relations (IR) department with shareholders and potential investors (Chiến lược phát triển | Vinamilk Việt NamChiến lược phát triển | Vinamilk Việt Nam - Vinamilk , n.d.-b) (Vinamilk Kido Chi 400 Tỉ Đồng Lập Liên Doanh - Tuổi Trẻ Online, 2021) The IR department has the role of providing information about Vinamilk most understandably and transparently to investors, including parameters of Vinamilk's position in the market, Vinamilk's strategies and initiatives in creating and maintaining value Vinamilk's IR also always listens and receives feedbacks from investors to capture the 0 psychology of investors to ensure parallel interests between Vinamilk and investors as well as the company's shareholders company (Nam, 2021) In addition, Vinamilk always avoids violating the interests of shareholders For example, in increasing charter capital in 2010, Vinamilk increased its capital from bonus shares due to its surplus rather than forcing shareholders to contribute any more 2.2.2 For staff/ for employees: According to the code of conduct, Vinamilk implements CSR standards for employees by ensuring three basic principles: respect, fairness, and working environment Specifically: • Respect: Vinamilk respects the human rights and dignity of all employees and believes that Integrity is inherent in every individual Respect means that we value each other's differences, respecting each other's differences opinions stem from those very differences • Fairness: Vinamilk is committed to treating employees fairly, which means: - Fairness in assessing the capacity of employees despite the existence of different views and opinions at work - The recruitment, work arrangement, and determination of salary and other benefits for all Vinamilk's employees are based on the appropriate basis of responsibility, ability and self-expression, experience as well as results rating of each employee - Vinamilk provides equal opportunities for employees in different aspects of labor: - Firstly, is committed to setting appropriate work goals, always bringing satisfaction and challenges to each employee's ability - Second, is committed to providing training, coaching, and promotion opportunities to facilitate employee affirmation and development - Third, conduct performance evaluation to obtain frank and accurate feedback based on exchange (a280004, 2020) (Nhìn Lại 2020 Với Câu Chuyện Của Vinamilk: Khi Trách Nhiệm Cộng Đồng Trở Thành Một Phần Trong Văn Hóa Doanh Nghiệp, n.d.) 0 Environment: Vinamilk will always provide and maintain a secure, safe, healthy, and friendly working environment An environment that always attracts and retains talented people despite their different starting points It is an environment where: - All employees have the opportunity to discover and realize their potentials at the highest level as well as reach their destination to develop and contribute to the success of Vinamilk - All employees have the best working conditions in both physical and mental aspects Employees are provided with a convenient working space, work equipment as well as always feel comfortable to promote their abilities and contribute personal ideas An environment that ensures the spiritual aspect also means that, in which each employee feels respected, everyone has the opportunity to socialize and have fun regardless of individual differences in talent or personality - All employees are guaranteed health and safety Vinamilk always strictly adheres to the regulations on safety and health to ensure the best health for each person so that they are ready to develop their capacity (ONLINE, 2019) Vinamilk action program: Vinamilk has gradually used the overall human resource management system to realize the rules in the company's code of conduct The overall human resource management system is coordinated by Vinamilk with Tinh Van Consulting Joint Stock Company (Tinh Van Consulting) - an experienced company and a partner of many large enterprises in the field Human resource management consulting based on information technology (IT) With the application of the overall human resource management system Histaff (from June 13, 2011) (Tinhvan Group - Tinhvan Consulting sẵn sàng Golive hệ thống HiStaff Vinamilk, n.d.) in sync with the enterprise management system ERP (Enterprise Resource Planning), Vinamilk was able to manage data efficiently centralized and synchronized The system helps the company to monitor changes in regular personnel changes of member units and branches spread across the country; Applying a flexible 0 timekeeping system such as: Assigning work shifts, monitoring entering and leaving hours, leaving late, leaving early, working overtime, overtime, overtime ; Support policies on calculating the income of workers such as Product delivery, Line productivity, daily performance, revenue calculation (KPI), Monthly salary fund allocation, effective salary monthly performance, 2.2.3 For customer/consumer: Consumers are the decisive factors for the success or failure of a business Therefore, Vinamilk is always conscious of implementing policies to promptly meet the needs and bring the most satisfaction to consumers That is clearly shown in the company's code of conduct: Winning the trust of consumers is always the goal that businesses aim for Likewise, Vinamilk considers the trust and love of customers for Vinamilk's products as a measure of success and a valuable motivation for the company to continue operating and developing Set the highest standards for products: Vinamilk commits to always making products that meet the standards of quality, safety, and hygiene; always diversifies products and provides products with competitive prices The company has complied with and applied regulations/standards related to quality, equipment, workers, raw materials in the production process Vinamilk always strictly adheres to the standard production process including the stages from raw material receipt, selection, initial treatment to processing, filling, packaging, and preservation To so, Vinamilk has been proactive in all stages from the source of clean raw materials to the closed production process meeting international standards • Honesty in Advertising: One of the ways to bring the image of VINAMILK to consumers is advertising vinamilk expects advertising not only to be creative, attractive, and useful but also to focus on honesty and accuracy vinamilk is committed to always advertising honestly ie tell the truth about its products vinamilk says it right, does it right, and sells the right quality products to consumers as announced 0 10 • Satisfying consumers: Vinamilk always focuses on consumers to meet and satisfy needs and tastes when creating products Consumers' needs are always changing, the best way to that is to always respect consumers' opinions, as well as create a comfortable, friendly, and timely environment to exchange information with consumers use Vinamilk is committed to always receiving information from consumers such as product contributions, concerns, questions, or complaints with the most respectful, polite, and timely attitude as well as commitment will promptly investigate and appropriately resolve issues related to product and service safety • Preservation of consumer information: Vinamilk always respects and preserves the privacy of consumers' information (Vì Sao Vinamilk Ln Là Thương Hiệu Rất Thành Công Trên Kênh Digital?, n.d.) (SONHKND, 2014) Vinamilk action program: - The cow raising process is also guaranteed to meet quality standards: The cows are all fed according to the TMR (Total mixing ration) method, with a mixed diet consisting of: grass, fresh or composted corn, molasses, bran, hummus… ensure rich nutrition, in order to produce more milk and quality (PLO.VN, 2013) - Vinamilk dairy farm meets international standards Global GAP - Honesty in advertising: Complying with commitments in the code of conduct for advertisements (Clips, information posted on the mass media, milk trial campaigns ) of Vinamilk always emphasize the quality of products such as real milk, clean milk, 100% pure fresh milk The company's product packaging also clearly states the origin, nutritional ingredients, or recommendations related to the product In addition to the fact that Vinamilk respects honesty in advertising, Vinamilk also ensures to sell the right quality products to consumers as announced as a way to prove the truthfulness of the company's advertising - Quality assurance is always top and hygienic 0 11 2.2.4 Suppliers: Vinamilk always wants to ensure a stable and reliable supply source based on sustainable relationships and harmonizing interests with suppliers of raw materials and services at a high standard Therefore, Vinamilk is committed to building the image of a reputable, respectful and honest company with suppliers (Fonterra Là Nhà Cung Cấp Lớn Của Vinamilk - Sưu Tầm - Khoa Đào Tạo Quốc Tế-Đại Học Duy Tân , n.d.) (Ví dụ Chuỗi cung ứng Vinamilk - Tham khảo cơng ty sữa lớn Việt Nam , 2020) (Mơ hình chuỗi cung ứng Vinamilk khâu sản xuất | ALS, n.d.) Vinamilk action program: - Maintaining good, sustainable long-term relationships with customers will help the company strengthen its competitiveness in the market Therefore, Vinamilk has taken practical actions such as planning, cooperation terms, and customer support to win customer loyalty Vinamilk's customers here are the company's product distributors Vinamilk has a nationwide product distribution system with more than 240 distributors on the Vinamilk product distribution system and over 140,000 sales points throughout the nationwide system The company also sells goods through all supermarkets nationwide (Tích, 2021) - Vinamilk always maintains a long-term sustainable relationship through the company's evaluation policy and preferential and supportive policies for suppliers For example, Vinamilk has provided financial and technical support to farmers so that they can develop quality livestock; At the same time, the company also buys high-quality milk at a reasonable price, thereby encouraging farmers to continue sticking with the dairy herd Thanks to appropriate and appropriate policies, Vinamilk has maintained long-term relationships (over 10 years) with large reputable suppliers in the dairy industry in the world and Vietnam such as Fonterra (SEA) Pte Ltd, Hoogwegt International BV, Perstima Binh Duong, Tetra Pak Indochina… (Những điểm cốt lõi Quản trị Chuỗi Cung ứng Vinamilk, 2021) 0 12 2.2.5 For environment/ Social: - For environment: Vinamilk always aims to make production activities as safe as possible for the surrounding environment, including protecting water, air, and environment around production and processing zones; at the same time, Vinamilk always tries its best to ensure the interests of the entire community, sharing a part of the burden of social responsibility for the state and the government Vinamilk action program: Vinamilk has been constantly implementing action programs for the environment Since the beginning of production, Vinamilk has focused on minimizing and treating waste generated during the company's operation Vinamilk has advocated building factories and farms in the direction of modernity and standards with an advanced waste treatment system that meets ISO 14000 standards.(Sản Xuất Sữa Trong Nhà Máy Hàng Đầu Thế Giới Của Vinamilk - DVO - Báo Đất Việt, n.d.) Besides, Vinamilk also takes measures to minimize pollution to the surrounding environment as well as to residential areas around the company's factories and farms All noise sources are located far from residential areas and are completely isolated The company also plants trees around the factory to create a green - clean - beautiful landscape, and at the same time limit noise, dust, and smoke affecting the air environment in the area.(đô, 2019) Vinamilk also constantly improves the packaging quality of products so that it is safe, beautiful, and environmentally friendly For example, reduce the weight of sweetened condensed milk packaging: use the thinner tin to reduce the packaging weight of sweetened condensed milk products and reduce the amount of plastic packaging consumed per yogurt unit For social: Vinamilk has constantly tried its best to share responsibility for the social community with the state and the government through social charity programs and community development movements Typical programs of Vinamilk include the Milk 0 13 Fund for poor children_ "For a Vietnam that always rises", Vinamilk Annual Scholarship Fund_ "Vinamilk - Nurturing young Vietnamese talents" Vinamilk's charity programs for the community always focus on children because the young generation is the future of the nation Over the years of implementing the above programs, Vinamilk has contributed significantly to the sustainable development of the community and the country The Growing Up Vietnam Milk Fund was originated from the "One million cups of milk fund for poor children in Vietnam" which was implemented in 2008 to share the difficulties of poor children, special circumstances, and disabled children This social activity of Vinamilk is also for the noble purpose of reducing the rate of malnutrition, increasing the height of children, and wishing to change a generation of Vietnamese people (“Quỹ Sữa Vươn Cao Việt Nam” Vinamilk Chung Tay Trẻ Em Thái Nguyên, n.d.) 2.3 Vinamilk CSR implementation budget: Vinamilk always sets aside a large amount of budget for its activities (accounting for about 2% - 3% of the company's capital) Every year, Vinamilk increases its budget to improve the effectiveness of CSR implementation for related activities and programs: Figure 2.1 : Budget for CSR activities of Vinamilk over the years (2008-2011) (Source: Annual report from 2008-2011) => The increase in the budget for CSR shows that Vinamilk is paying more and more attention to the implementation of corporate social responsibility Consider it as one of the 0 14 solutions to improve the company's competitiveness as well as demonstrate the Company's highest responsibility to the community and society 2.4 Evaluate the implementation of CSR of Vinamilk The level of success of Vinamilk in implementing CSR Assessed through the social index assessment method, through the assessment of the company's business ethics, employee satisfaction, customer satisfaction, impact on the community, impact positive for the environment In addition, experts also often use the evaluation method according to KPIs (Key Performance Indicators) - "Performance Indicators" including brand value, level of attraction, and retention of trust of customers customers, the company's reputation, the attractiveness of the employer, the level of human resource attraction, and employee retention 2.4.1 Economics responsibilities: Thanks to the efforts to implement CSR, Vinamilk's business situation is developing day by day The impacts of CSR are reflected in the economic benefits it brings to Vinamilk through financial and non-financial benefits - Enhancing Vinamilk's position and reputation, that is recognized through a series of prestigious national and international awards Vinamilk has won trust and created a feeling of trust for investors, partners and shareholders - Emulation movements during the past 40 years have liberated human resources, helping Vinamilk always achieve impressive growth rates Especially in the last 10 years since equitization, average sales have increased by over 20%/year; Profit increased by 15%/year; The average contribution to the state budget is over 3,000 billion VND/year The total value of the payment to the state budget since the equitization in 2003 has reached over 22 trillion VND, equivalent to 1.1 billion USD The company rose to Top 100 most valuable companies in Southeast Asia, Top 300 enterprises in Asia (Top 100 ASEAN and Top 300 ASIA), and Top 50 best-listed companies in Vietnam With the goal of sustainable development and reaching out to the world, Vinamilk sets a long-term development strategy associated with emulation movements to become one of the 50 0 15 largest dairy companies in the world by 2017 with sales of billion VND USD (SỰ THÀNH CÔNG CỦA VINAMILK NGÀY HÔM NAY, n.d.) 2.4.2 Legal responsibilities: Besides the noble titles and awards awarded by the State Party, since its establishment, Vinamilk has also achieved many prestigious and prestigious awards awarded by domestic and international organizations: times in a row proud to be honored with the National Brand; Global Food Technology Award for liquid dairy products at the 2014 Food Science and Technology Conference, held in Montreal, Canada Ranked 1st in the Top Vietnamese companies in the 300 most valuable enterprises in Asia 2015 in Japan,… 2.4.3 Ethical responsibilities: Vinamilk is assessed to implement relatively good values and ethical standards The rules of social behavior or voluntary actions that follow the ethical standards of the society such as the welfare of the company's employees or the social welfare according to the fine customs and traditions of our nation are always recognized by Vinamilk maintained and strictly enforced 2.4.4 Philanthropic Responsibilities: Vinamilk always performs very well and regularly maintains charity activities Vinamilk's implementation of charity programs with depth and high community character has clearly demonstrated the company's determination to strictly comply with CSR standards => Therefore, it is possible that economic responsibility and philanthropic responsibility should be considered top priority issues for businesses Because, if they charity work, it will cause a greater resonance and at the same time, it will help promote the economy of businesses and the country 0 16 CHAPTER 3: RECOMMENDATIONS FOR ADVANCED CSR On the path of integration, implementing corporate social responsibility is an extremely necessary job, bringing benefits to businesses and society as well as improving the competitiveness of enterprises industry, of the country To be able to help businesses perform their social responsibilities well, in our opinion, it is necessary to implement the following solutions: - Through many different channels, it is necessary to strengthen information and propaganda so that people understand the true nature of the issue of "Corporate Social Responsibility" and the Code of Conduct, especially in businesses, management, macro policymaking - Conduct investigations, surveys, and practical studies at enterprises that have implemented and will implement the Code of Conduct, especially in enterprises in industries that are engaged in the export of commodities Vietnam's key products such as leather shoes, textiles, frozen seafood, etc., to see the advantages, difficulties, challenges, and barriers, from which to have appropriate solutions to implement - The State needs to issue supporting mechanisms and policies so that businesses can fulfill their social responsibilities In the process of implementing social responsibility and the Code of Conduct, businesses need to have costs, even quite large investment costs, such as investments to improve sanitation and environmental conditions labor These costs are often unbearable for businesses, so with a preferential and preferential policy, the State can lend from the development support fund, trade promotion fund, etc - Promote the role of professional associations such as Industry and Trade Association, Vietnam Chamber of Commerce and Industry, ministries, and branches informing information channels on social responsibility for businesses, especially providing information on social responsibility updated information on the Code of Conduct; advising businesses in the process of implementing social responsibility and the Code of Conduct, etc The social responsibility of enterprises in the process of industrialization and modernization is demonstrated through protection environment 0 17 - Continue to improve the legal system on environmental protection, the sanctions must be really strong enough to deter violators In addition, it is necessary to synchronously build an environmental management system in factories and industrial parks according to international standards, and at the same time organize close supervision towards a nice and friendly environment than with humans - Strengthening the work of understanding the situation, inspecting, examining, and supervising the environment, closely coordinating between specialized agencies, especially between the environmental inspection force and the environmental police force at all levels , to detect, prevent, and promptly and thoroughly handle acts causing environmental pollution by organizations and individuals - Organize seriously the appraisal and assessment of environmental impacts of investment projects, on that basis, the specialized agency will accurately advise the competent authorities to consider and decide whether to grant or approve the project investment license is not granted The decision of investment projects should be carefully weighed between the immediate benefits and its long-term environmental impacts Publicly and transparently implement plannings and investment projects and create conditions for all organizations and citizens to participate in social criticism about the environmental impacts of those plans and projects 0 18 CONCLUSION The research has clarified the theoretical basis of CSR including several categories, concepts, elements highlighting the benefits of CSR for businesses, and evaluation methods At the same time, the research has provided a scientific analysis of the resources for Vietnamese enterprises to implement CSR coming from two main directions: internal resources (1) and external resources of enterprises (2) Besides, the study also emphasizes that businesses need to advocate the development of internal resources because it is more important, but on the other hand, they also need to take advantage of opportunities brought by external resources Research on the current situation of CSR implementation at Vinamilk has shown positive results about the situation of CSR implementation in this company The CSR that Vinamilk implements basically brings benefits to businesses and the whole society Finally, through the analysis, the study has synthesized a group of solutions for small and medium businesses Thereby, the business community is the most important component in the formulation and implementation of CSR development solutions in Vietnam Besides, the state and society will join this community with extremely practical solutions 0 19 REFERENCES Reasons Why Social Responsibility Matters in Business (2013, February 22) The Borgen Project https://borgenproject.org/5-reasons-why-social responsibility-matters-inbusiness/ 14479266235de3a6cc3ae07fc9ec8e0cef7b1d74ba5bb0e7de0512377edfe83cca2c725c73.pdf Retrieved November 13, 2021, (n.d.) from https://www.vinamilk.com.vn/static/uploads/download_file/14479266235de3a6cc3ae07fc9ec8e0cef7b1d74ba5bb0e7de0512377edfe83cca2c725c73.pdf a280004 (2020, August 13) Phần mềm quản trị doanh nghiệp MISA AMIS https://amis.misa.vn/11627/quan-tri-con-nguoi-theo-chien-luoc-nhan-su-cua-vinamilk/ Arguments for and against Social Responsibility of Business (n.d.) 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IMPLEMENTATION OF SOCIAL RESPONSIBILITIES AT VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY VINAMILK 2.1 Overview about Vietnam Dairy Products Joint Stock Company Vinamilk 2.2 Current status of CSR implementation... development of the country 0 CHAPTER 2: IMPLEMENTATION OF SOCIAL RESPONSIBILITIES AT VIETNAM DAIRY PRODUCTS JOINT STOCK COMPANY VINAMILK 2.1 Overview about Vietnam Dairy Products Joint Stock Company Vinamilk. .. implementation of CSR of Vinamilk The level of success of Vinamilk in implementing CSR Assessed through the social index assessment method, through the assessment of the company'' s business ethics, employee