Can Tho University Journal of Science Vol. 13, No.

1 (2021): 71-77

DOI: 10.22144/ctu.jen.2021.009

Corporate cultural characteristics of startups in developed countries and

recommendations for vietnamese small businesses

Nguyen Quang Trung*

Faculty of Economics and Business, Hoa Sen University
*Correspondence: Nguyen Quang Trung (email: [email protected])
Article info. ABSTRACT

Received 18 Aug 2020 In the situation of globally connected digital economy, changes in organi-
Revised 13 Nov 2020 zational structure and smart corporate governance are placing the entre-
Accepted 31 Mar 2021 preneurial structures in the face of unprecedented decisions on building
and developing corporate culture. By the method of literature review, desk
review on the basis of secondary data is a typical study case on the cultural
Keywords characteristics of startups in the United States of America (USA), China,
Korea, Japan, Singapore and European Union. Based on the experiences
Corporate culture, developed from developed countries, some recommendations has been proposed for
countries, startups small business founders in Vietnam. It is expected to contribute an addi-
tional perspective on digital business in the era of globalization.

1. INTRODUCTION Korea, Japan, Singapore and EU, startup organiza-

tions in Vietnam can develop stronger cultures ef-
The era of smart industry with “smart companies”
fectiveness.
and IoT technology (Internet of Things - Internet
applications in all fields) has had a strong impact on 2. MATERIALS AND METHODS
the corporate management process in our country.
To achieve the goal from an overview of the existing
Barbosa (2014), Pendolin and Kari (2013), Schein
researches on the development of a tech startup cul-
(2012), Szumal and Cooke (2000), Wei et al. (2008)
ture, learn experience from developed countries and
showed that culture is a source of profound impact
make appropriate recommendations for small busi-
on the competitive advantage of startups. Mean-
nesses in Vietnam, two methods were used: litera-
while, scholars such as Neuburger (2018), Radjou
ture review and desk review, specifically:
and Prabhu (2015) and Ries (2017) agreed that
startups in general and especially for smart startups Literature review was used to identify, synthesize
must be continuous and constantly develop the com- and evaluate scientific research around the culture
pany's culture. The workshops, factories, industrial of startups in the USA, Canada, China, Korea, Ja-
enterprises to service trade enterprises and latest pan, Singapore and EU. Forty-five research papers
IDE models are have a micro-culture that connects by reputable researchers on the corporate culture
the past and the present, orients the future (Flam- characteristics of startups has been selected for anal-
holtz & Randle, 2011; Schein, 2012). This micro- ysis and citation involves the construction and ap-
culture is an integral part of the macro culture which plication of its nationality, theoretical as well as
is the professional culture. By exploring the effect practical value that it has raised. This article was
of startup cultural characteristics in the USA, China, conducted mainly based on secondary data sources,
which are typical studies of foreign authors related

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Can Tho University Journal of Science Vol. 13, No. 1 (2021): 71-77

to the research topic, the works researched and lim- company's culture is from the startup stage,
ited to publication time frames from 2000 to 2018 to constantly improving in the development process,
ensure the freshness of information. taking the company as the subject, social
environment (customers, customers, partners) and
There are three reasons that studies on corporate cul-
nature (where it operates, supplies of raw materials,
ture in five developed countries (USA, China, Ko-
the market of consumption) as space and the whole
rea, Japan, Singapore) and EU have been useful.
process of existence is a time axis.
First, these countries have large industrial centers
initiate and lead the world in business administra- Facing a strong startup wave in the Industry
tion. Next, it has had a lot of research on startup cul- revolution 4.0, the corporate culture in this period is
ture so it is very convenient for accessing data and increasingly being carefully studied by scientists.
documents. Most importantly, it is the six countries Not a pioneer, but Stephen (2016) completely
that are Vietnam's largest trading partners so oppor- convinced the expert community when pointing out
tunities for cultural exchange and integration are vi- the most basic characteristics of a startup are
able. innovation, startup, and risk-taking. Aulet (2016)
recognizes startups as those who create a new
Desk review has given an overview of the research
business in the form of small and medium-sized
problem, personal ideas proposed in the form of rec-
businesses (SMEs: they are small businesses in
ommendations for the development of small busi-
terms of capital, labor or revenue. According to
nesses and this corporate culture in Vietnam. This is
Word Bank (2011), SMEs have from 10 to less than
a common method for performing an initial assess-
200 employees and 20 billion VND capital or less,
ment of resources. It has been used to uncover
while medium enterprises have 200 to 300
sources of information and overview of the research
employees with 20 to 100 billion VND capital) or
problem. A desk review methodology has been
Innovation-Driven Enterprises (IDEs: businesses
combined with comparative analysis and systematic
based on innovative breakthroughs).
thinking of clarifying the significance of the re-
search, academic gaps, draw experiences. However, SMEs or IDEs are often perceived as
simple companies in terms of organizational
3. RESULTS AND DISCUSSION
structure and human resource management, limited
3.1. Theoretical foundations of corporate resources and financial management, manufacturing
culture and technology, the challenges of the company
before the business environment and marketing
From 2000 to the present, startup culture has often management. It is risky in operations such as the
been noted as a shared set of assumptions to guide evaluation of Moores & Yuen (2001), Kallunki &
employee behavior (Dennis, 2001; Dowling, 2001;
Silvola (2008), Wang & Bansal (2012).
Schrodt, 2002). Another point of view, Whetten &
Mackey (2002) considers corporate culture as the 3.2. Cultural characteristics of startups in
corporate atmosphere, logo system and identity. developed countries
Flamholtz & Randle (2011) think that corporate cul-
The era of globalization has created fierce business
ture is the personality of the company while Schein
competition in economies to regional and global
(2012) defines corporate culture as a model of
markets. It changes the face of the manufacturing
shared basic assumptions that the group has learned.
and service sector (Boughton, 2002). Many scholars
When it addresses issues related to adjusting for ex-
have realized that corporate culture is the force that
ternal fit and internal integration. It is concluded that
profoundly influences the competitive advantage of
the company's culture is a total of material and spir-
an IDE (Barbosa, 2014; Pendolin & Kari, 2013;
itual values that have been created from the estab-
Szumal & Cooke, 2000; Wei et al., 2008). Pendolin
lishment and throughout the company's develop-
and Kari (2013) assert that the value and profit of
ment process.
the company created today is no longer by mere
The classic studies of corporate culture in the West technology, but it requires constant innovation to-
all acknowledge that the structure of culture is a wards customers, who are the ones who will create
unified system of material values (symbolic new value.
systems) and spiritual values (also known as nature).
Ries (2017) in his book, “The startup way: How
Corporate culture is the sum of two subsets (1)
modern companies use entrepreneurial management
material values and (2) spiritual values with specific
to transform culture and drive long-term growth”
characteristics (identity) of the company. The

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points out that successful companies are finding and employees, corporate culture in the UK to en-
possible ways to replicate their corporate culture if gage employees, while in the US it is used to moti-
want to continue to grow, and at the same time, the vate employees to work hard and be productive.
IDEs that desire to succeed will strive to continu-
In Europe, Klaus (2016) recognizes that the startup
ously improve the company's culture.
IDE is extremely innovative, although the number
In the 2010s, tech startups changed the traditional of innovative and high-growth companies in Europe
theory of corporate culture structure (Craig, 2017; is generally quite small because of empiricism de-
Neuburger, 2018; Radjou & Prabhu, 2015). By spite the startup centers like London, Berlin, or eco-
adopting an innovative business-based approach, nomic centers like Stockholm and Munich (EY,
seeking a breakthrough solution from cultural dif- 2015). From the data of the Global Innovation Index
ferences to unprecedented problems, many startups and Social Survey in 27 European countries, Zhu et
thrive thanking to disrupting traditional lucrative al. (2018) conducted a study on cultural innovation,
business models (Radjou & Prabhu, 2015). Craig a multivariate SEM analysis confirmed that the re-
(2017) asserts that IDEs are changing the rules of lationship between Cultural values and innovation
corporate culture in an increasingly invisible way, performance interact with levels of belief and ideals.
which is completely different from the concept of
Today, Chinese values are frequently discussed and
the previous generation of entrepreneurs.
influential in international business and manage-
On the other hand, some characteristics of IDE cul- ment documents (Gadner et al., 2015; Zhang, 2007).
ture are also pointed out as Studholme (2014) in the Chen et al. (2000) note that the Chinese IDE is
famous works “Silicon Valley Startup Companies: strongly influenced by traditional culture, compa-
A Question of Culture” describing Silicon Valley nies that are conscious of learning from the outside
(USA) almost having the same meaning with IDEs but at the same time having a very clear awareness
and those companies are defined by culture. This about inheriting the tradition. Boontanapibul (2010)
meaningful conclusion was discovered by Stud- in the report “Doing Business in China: Cultural
holme (2014) by stumbling upon observations of in- Factors, Startup Concerns, and Professional Devel-
corporation in Silicon Valley that statements about opment”, says there are really many differences in
IDE establishment are often focused on culture. On culture, interest in entrepreneurship and develop-
the other hand, the importance of lean and customer- ment between the USA (strong individualism, me-
oriented culture management in IDEs has been dium power gap, for instability will accept risks,
noted by Heidi & Minna (2014). Robinson (2001) short-term orientation) and China (strong collectiv-
also recognizes that leanness is very useful for or- ism, central power, democratization trend, for insta-
ganizations as they aim to make corporate cultural bility will avoid risks, long-term orientation).
more innovative.
Korea is a strong startup nation, the successful ex-
The USA is the country with the strongest economy perience of Korean IDEs based on its own culture
in the world, leads the G20 group in entrepreneur- has garnered attention and praise from around the
ship culture (Kegel & College, 2016). Shaker et al. world (Choong & Jennifer, 2014; Gadner et al.,
(2004) base on data from 536 manufacturing com- 2015). The combination of Western management
panies in the United States to examine the relation- science and Korean cultural characteristics is con-
ship between corporate cultural aspects in family- sidered to be the most effective philosophy (Choong
owned and non-family-owned businesses, the non- & Jennifer, 2014). Gadner et al. (2015) evaluated in-
linearity between the cultural dimension of individ- novation systems in Austria, Israel and Korea and
ualism and entrepreneurship has been discovered. acknowledged the role of a unique Korean IDE cul-
The corporate culture is an invaluable asset of IDEs ture from the Family-Based Business Model, the
in Silicon Valley, and the willingness to take risks is model is the “Chaebol” which is a useful reference
the advantage of IDE here before the desire to be- for modern startups beacause the absolute control of
come an entrepreneur (Block & Keller, 2011). By the owners brings a strong consistency in the con-
comparison method, Farley (2018) has shown that stant commitment to corporate culture (Hong &
corporate culture in the UK focuses primarily on the Geon-Cheol, 2008; Rhyu, 2005).
needs of shareholders and the Board of Directors,
Japan has the most modern and innovative science
while its focus in the US is directed at the customers
and technology in the world in the Industry revolu-
tion 4.0, so it has always had a profound influence

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on the aspects of science and art of corporate gov- noted the Chinese factor in Singapore's startup cul-
ernance through real estate models (Just in Time - ture (Tan, 2015), which is easily explained by the
JIT), Continuous Improvement (Kaizen), Total Chinese who account for more than 76% (2015). ,
Quality Management, the quintessence of manage- they are present in all socio-political levels of Sin-
ment in general, and Japanese corporate culture to- gapore society (Ortmann & Thompson, 2016).
day is the global real reference sources (Kippen-
In the trend of integrating more and more deeply
berger, 2002; Nakagawa et al., 2018). Kippenberger
into the world economy, the Government of Vi-
(2002) says that recognizing Japanese style and
etnam identifies startups as important objects of the
spirit, Japanese corporate cultural values were pop-
economy and the driving force for economic
ularized worldwide through the “Seven Spirits of
growth. The fact also shows the startup wave is go-
Matsushita” (Seven Spirits of Matsushita) model
ing strong in Vietnam and the number of startups is
sated by Konosuke Matsushita (1894-1989) in 1933.
growing rapidly and these startups can only thrive
Peng (2009) summarized “The Seven Spirits of
when it has a strong investment in corporate culture.
Matsushita” including service through the industry,
The analysis of the characteristics of corporate cul-
fairness, harmony, and cooperation, struggle for
ture will have presented meaningful reference for
progress, courtesy and humility, courtesy and hu-
Vietnam small businesses.
mility, adjustment and assimilation, and gratitude.
Some typical IDE studies in Japan such as Kushida 3.3. Recognition results and recommendations
(2017) on “Innovation and Entrepreneurship in Ja- for Vietnamese small businesses
pan”; Kegel & College (2016) compared startup ac-
tivities between the United States and Japan in many 3.3.1. Recognition results
aspects including culture. Noriko et al. (2010) on This article has briefly introduced the cultural char-
“High-Tech Startup Management Strategies: Case acteristics in the USA, China, Korea, Japan, Singa-
Studies and Issues in Japan” evaluated the success pore and EU. Experience from the IDEs of USA
of startups mostly from a young culture but strong and EU show that corporate culture is truly an inval-
and distinct, not only modern and technological uable asset of the IDE that comes from differentia-
skills, but also preserving the Japanese business tra- tion, a streamlined and digitized structure is a spe-
dition. cial advantage of IDEs, cultural characteristics IDE
USA and EU appreciate creativity and innovation,
Lion Island - Singapore has always been considered
taking risks. The characteristic of Chinese and Sin-
a model startup ecosystem, an ideal destination for
IDEs in the region and around the world (Low, gaporean IDE culture shows traditional culture is
2009, 2011; Tan, 2015). By investigating and con- the foundation of corporate culture, the corporate
culture acquires new values on the one hand, but at
ducting in-depth interviews on core values from
the same time the corporate culture must follow
Singapore corporate leaders, Low (2009) recorded
value system of traditional culture. Korean and Jap-
the top 12 Singaporean companies value as human
anese cultural characteristics suggest that a harmo-
resources, followed by learning, sense of solidarity,
multiethnic/multiculturalism, achievement, globali- nious combination of East and West based on family
zation and networking, ongoing and resilient efforts, cultural identity and national culture is the key to
success in building culture, that towards people,
government support and participation, rationalism,
people-centered and for human development. Core
realism use, diversity, women's participation. Low
content is presented in Table 1.
(2011) points out that exogenous factors have a
strong influence on the development of Singaporean The diverse, colorful picture and theme of IDE cul-
IDE culture, less attention is paid to identity than ture in developed countries is a useful reference for
creativity and integration. Many discussions have Vietnamese small businesses on the path of devel-
oping corporate culture and asserting their identity.

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Table 1. Corporate cultural characteristics of startups in many developed countries

The nations Typical research Core values
Shaker et al. (2004), Block & Keller Corporate culture is truly an invaluable asset of the
The United States (2011), Studholme (2014), Kegel & IDE that comes from differentiation, a streamlined
College (2016), Farley (2018) and digitized structure is a special advantage of
EY (2015), Klaus (2016), Zhu et al. IDEs, cultural characteristics IDE USA and EU ap-
European Union
(2018) preciate creativity and innovation, taking risks
Chen et al. (2000), Zhang (2007), Traditional culture is the foundation of corporate
Chinese Gadner et al. (2015), Boontanapibul culture, the corporate culture acquires new values
(2010) on the one hand, but at the same time the corporate
Low (2009, 2011), Tan (2015), Ort- culture must follow value system of traditional cul-
Singapore
mann & Thompson (2016) ture.
Kippenberger (2002), Peng (2009),
Noriko et al (2010), Kegel & College A harmonious combination of East and West based
Japan
(2016), Kushida (2017), Nakagawa on family cultural identity and national culture is
et al. (2018) the key to success in building corporate culture,
Rhyu (2005), Hong and Geon-Cheol that towards people, people-centered and for hu-
Korea (2008), Choong and Jennifer (2014), man development.
Gadner et al. (2015)
(Kaizen), Green Productivity for management to
3.3.2. Recommendations for Vietnamese small
wasteful screening, productivity improvement and
businesses
gradually increasing the creative nature (Adhocracy
First of all, businesses need to quickly establish a culture) of the corporate culture.
strategy for developing a business culture in the di-
Finally, Vietnamese small companies need to enrich
rection of adapting to the new digital age. In general,
their corporate culture based on acquiring traditional
small companies in Vietnam are more passive with
elite values. Companies need to have a clear plan
the ongoing digitalization trend, it is very difficult
and roadmap in shaping and developing corporate
for us to "lead" the Industry Revolution 4.0, the abil-
culture based on both "advanced" and "modern",
ity to access technology and infrastructure systems
connecting the corporate culture to the source of val-
are almost very low. Therefore, all companies need
ues. The traditional culture of Vietnam towards peo-
to be aware of and build a culture strategy to adapt
ple, people-centered and for human development.
to the tremendous change that is happening from the
Effective use of internal marketing will help the
completion of infrastructure to information technol-
company promote the strength of unity and internal
ogy applications. The most important future strate-
unity and contribute to promoting the company's im-
gies, tactics and plans to adapt to a connected, secure
age to the outside.
and safe environment to apply smarter and more
convenient applications. These recommendations can be useful for startups
in Vietnam in general. Whether the startup of com-
Next, administrators need to gradually change the
mercial and service are the most popular now but the
corporate governance method. The impact of the In-
truth is no evidence that it is not confirmed in ac-
dustry Revolution 4.0 is characterized by smart
cordance with the innovation company. These ideas
companies, the Management by Values (MBV)
should continue to be observed for the suitability for
method with the foundation of comprehensive de-
each type of startup in Vietnam in future studies.
velopment value, participation, continuous im-
provement and creativity, consensus and commit- 4. CONCLUSION
ment. Thinking that today's administrators need to
4.1. Conclusion
be aware and practice drastic governance in the di-
rection of MBV, identify values, communicate and The corporate culture is the force that deeply influ-
thoroughly understand each member, transform val- ences the competitive advantage of an IDE (Bar-
ues and philosophy into actions and MBV decisions. bosa, 2014; Pendolin & Kari, 2013; Szumal &
Also, it is necessary to apply modern quality produc- Cooke, 2000; Wei et al., 2008). Pendolin & Kari
tivity tools such as 5S - Visual Management (Visual (2013) find that startups have changed the tradi-
Management), Continuous Improvement Practice tional theory of corporate culture structure (Craig,

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2017; Neuburger, 2018; Radjou and Prabhu, 2015). Chen, X., Bishop, J. W., and Dow S. K. (2000). Team-
This study concludes that digital business in the era work in China: Where Reality Challenges Theory
of globalization is an indispensable trend forcing and Practice. Management and Organizations in the
modern business structures in Vietnam to quickly Chinese Context, 269-282.
establish a strategy to develop corporate culture to- Choong Y. Lee and Jennifer Y. Lee (2014). South Ko-
wards adapting to the new era and rich numbers are rean Corporate Culture and Its Lessons for Building
Corporate Culture in China. The Journal of Interna-
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tional Management Studies, 9(2), 33-42.
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of Office Culture. Forbes
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