Would like this paraphrase Continuous Improvement
Business Finance
Resulting from the examined risk mitigation strategy through corporate social responsibility and sustainable practices, it can be concluded that Vietnam fails to apply it for meeting the international standards within the environmental and social scopes. It is in view of exploiting the already unsustainable non-monetary and monetary costs for the Vietnamese middle- and small-sized enterprises and suppliers in particular. The mentioned boosting of the domestic potential, building the effective collaborations and partnerships, engaging of the governmental and managerial capacities, and establishing the reasonable social policies are to contribute to covering and mitigating the hanging risks. Apart from that, the local firms and corporations have to enhance the financial and technical support for pursuing the sustainable policies and attracting the foreign customers successfully (Tencati, Russo & Quaglia, 2010, pp. 100-101). Hence, the concluded implications point to the failures of Vietnamese enterprises to create a favorable medium for adopting the corporate social responsibility strategy at the operational and managerial levels.
When it comes to the alternative solution within the globalized supply chain, strengthening the focus on the labor and technological sources is essential in the course of facing and overcoming the risks. To be more specific, the Vietnamese enterprises are to reduce the imposed control for allowing the employees to reveal the potential to the full. The innovative approaches and encouragement of the initiatives may foster the construction of profitable atmosphere for gaining and retaining the competitive advantage and precondition the efficient cooperation. By extension, the better the performance rates and technological infrastructure are, the more improved and beneficial the collaboration with the international suppliers will be. It means that the carefully designed and implemented social policies along with the gradually accommodated equipment promise to accept, mitigate, and overcome the challenges of the global supply chain.
Tencati, A., Russo, A., & Quaglia, V. (2010). Sustainability along the global supply chain: The case of Vietnam. Social Responsibility Journal, 6(1), 91-107. doi:10.1108/17471111011024577
