“Corporate Governance That Rules“
DKSH Vietnam shows other businesses how it is done through exemplary stewardship by enriching the lives of others.
With over 150 years of experience under its belt, DKSH originated in Switzerland and specialises in the provision of market expansion services. The Swiss company expanded to Vietnam in 1890 before it was closed due to war and reinstated in 1991. It was subsequently officially registered as DKSH Vietnam Co., Ltd. in 2008 and is currently the leading market expansion services provider within the Asian region.
DKSH Vietnam helps businesses grow within Asia and beyond by leveraging on its extensive global networks, unmatched industry expertise, and local insights to extend an integrated and tailor-made portfolio of services to businesses in accordance to their respective needs. These services range from sourcing, market insights, marketing and sales, distribution and logistics, and after-sales services.
Anchored by its 5 core values comprising integrity, empowerment, collaboration, entrepreneurship, and sustainability, DKSH Vietnam today has 4 business units – Consumer Goods, Healthcare, Performance Materials, and Technology – and 2 joint ventures, serving over 300 global clients within those fields as well as over 190,000 customers consisting of supermarket chains, convenience stores, mom-and-pop stores, pharmacy chains, and more.
Dominating the industry as a market leader, DKSH Vietnam has demonstrated exemplary stewardship in the way in which it operates. Besides enriching lives by providing people access to essential consumer goods, healthcare products and more, the people-first company similarly champions employee growth and engagement while giving back through substantial CSR investments for the environment and surrounding community.
Like many other businesses, DKSH Vietnam has had to confront the uncertainties of the ever changing business environment, particularly with respect to COVID-19. Owing to its agility and adaptability, the company remarkably delivered growth even in less than favourable conditions. This is by and large due to its solid business model that enables the company to be flexible while mitigating risks, and a constant investment in digital transformations and innovations.
More importantly, DKSH Vietnam has beaten all odds to help its clients stay focused on their core business of product development and innovations to support their top- and bottom-line growth, increase their market share, penetration and coverage as well as reduce fixed costs and complexity through efficacious business continuity planning strategies even during challenging times.
Besides the unforeseen pandemic, other pivotal events DKSH Vietnam has had to endure include the Vietnam War which ultimately caused a cease in its operations, and more recently, constructive changes in Vietnam’s policy reform in an aim to become a developed country by 2050. The government aims to foster public-private partnerships as one of keys to the country’s sustainable growth, and the company is doing everything possible to meet such changes.
It is apparent that DKSH Vietnam’s good corporate governance has enabled it to brilliantly differentiate itself from its competition, and as a strategy for growth, the leader in market expansion services prioritises on growing its existing business units, strengthening its service offerings, and increasing operational efficiency to better serve its business partners. The company also remains steadfast in driving its 5 core values throughout its operations.
DKSH Vietnam’s astute corporate governance has also catalysed many of the company’s achievements, such as being conferred as one of the Best Companies to Work For in Asia by HR Asia in 2020 and 2021, and the Corporate Excellence under the Asia Pacific Enterprise Awards (APEA) 2021 by Enterprise Asia, as well as many other recognitions by local authorities for its contributions.
With a workforce of nearly 4,000 people as its most prized asset, DKSH Vietnam strives to create a sense of belonging within the organisation through various programs and initiatives, given that it regards talent competition and retention as a challenge in the near future. The company aspires to create irreplaceable connections with its employees by encouraging them to grow with passion, act with purpose, deliver with direction, and care about others.
Besides empowering employees to set their own growth and development goals, DKSH Vietnam’s workforce places an emphasis on diversity and inclusion, with over 50% of its employees being females and also holding roles as managers as well as senior leaders. Additionally, employees are given the choice to work from home up to 40% of their time in an effort to cultivate work-life balance.
Employees at DKSH also reap the benefits of learning and development programs that cover both professional courses and soft skills development sessions. Its Talent Incubator program further offers employees the chance to shadow top management in the industry and are coached to be future leaders of the company. Finally, DKSH Vietnam partners with universities to design special programs and courses for its employees to advance their education levels.
During the peak of COVID-19 pandemic, DKSH Vietnam has made over 20 donation activities in cash and in kinds with the total value up to USD 1 million to help the society battle the pandemic in Vietnam, and a MoU with the Vietnam Young Physicians Association to be a partner in programs that aid the recovery of patients after COVID-19 infections.
Other CSR initiatives pertaining to the environment include a decrease in carbon dioxide emissions by 8% in 2020, with a target of an additional 35% reduction by 2025 against the baseline of 2020. This is achieved by optimising transport and energy use, and expanding its consumption of renewable energy. Furthermore, DKSH Vietnam also implemented a campaign entitled Together We Save The Earth, which was inspired by the group’s Faster – Leaner – Greener project in which its purpose is to reduce waste, particularly at office locations.
As Industry Champions of the Year, ACES recognises DKSH Vietnam as a worthy captain of the market expansion services industry that proactively shifts business paradigms and uses profits for social good. It not only validates the company’s strategy for sustainable development in Vietnam, Asia, and beyond, but also is a strong encouragement for its future commitment as it continues to enrich lives everyday.
“The businesses that are crazy enough to think they can change the world, are the ones that actually do. DKSH Vietnam Co., Ltd has made an extraordinary impact not many others will achieve in our lifetime, and despite its successes, holds itself accountable for the wellbeing of others. What more can’t it do?”
Shanggari Balakrishnan, Chief Executive Officer, MORS Group