general and tourism development in particular. Therefore, businesses need to be more proactive in linking with the Government during the integration period. The research results also show that tourism businesses in the region still lack long-term strategic vision, and have limited sense of responsibility and obligation to the State, community and society. In addition, the connection and culture of cooperation between businesses are still formal, not really forming a bloc to jointly develop sustainable tourism, and not recognizing the common benefits of cooperation and association to create greater combined strength.
Social implications
Based on the results of testing hypotheses on the direct impact of implementing corporate social activities on HQHĐ and the indirect impact through intermediary variables, it is shown that implementing corporate social activities will increase SGBNV (hypothesis H2b), SCKNĐT (hypothesis H4b), STGCĐĐP (hypothesis H6b) and HQHĐ (hypothesis H1b). This result, together with the descriptive statistics of the social scale, helps the author to make the following implications for tourism enterprises in the DHNTB region:
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Firstly, the observed variable “protecting complaints and rights of local communities” has the highest mean value in the social dimension scale (with a mean value of 3.94). This shows that tourism enterprises in the DHNTB region have paid attention to protecting complaints and rights of local communities. However, tourism enterprises in the DHNTB region need to further improve their activities for local communities. When these activities are given due attention, they will not only benefit local communities but can also improve local tourism services, thereby helping to improve the quality of tourism services. With the strength of sea and island tourism products, the role of local communities at destinations is extremely important and needs to be given due attention, in order to avoid excessive development and unplanned disruption of existing local communities at tourist destinations.
Second, the observation variable “improving health and safety for employees and the community” has the second highest mean value in the social dimension scale (with a mean value of 3.93). This shows that tourism enterprises in the DHNTB region need to improve the integration of social welfare goals into the process of building business strategies. Tourism enterprises need to continue to pay more attention to the issue of improving health and especially the issue of safety for employees and local communities where the enterprise is operating. Along with that, tourism enterprises need to increase communication and promotion activities to attract and approach
stakeholders better. Research results show that when businesses do well in their social activities, they increase SGBNV, while sales and brand reputation of the business in the community also increase. From there, it helps to increase competitive advantage and business performance.
Third, the observation variable “awareness and action on the need to fund local community initiatives” has the third highest mean value in the social dimension scale (with a mean value of 3.92). This suggests that DHNTB tourism enterprises need to continue to improve their funding sources for the community and sustainable tourism activities, as these will improve the image of the tourism enterprises. In addition, tourism enterprises can plan to fund certain projects for local community-related initiatives related to communicating and raising awareness of local communities about sustainable tourism development.
Fourth, the observation variable “consider the interests of stakeholders in investment decisions” has the fourth highest mean value in the social dimension scale (with a mean value of 3.89). Accordingly, tourism enterprises in the DHNTB region need to focus on further improving the consideration of multi-stakeholder cooperation initiatives related to the fields of business operations. Tourism enterprises need to have a long-term strategy in developing and implementing action strategies for sustainable development goals that consider the interests of stakeholders in investment decisions. At the same time, tourism enterprises are an important bridge connecting relevant parties in promoting sustainable tourism development. Therefore, tourism enterprises need to closely cooperate with local authorities, partners, tourists and local communities, in which the interests of all stakeholders are considered through formal dialogue activities with stakeholders.
Finally, the observed variable “communicating the environmental impacts and risks of enterprises to the public” has the lowest mean value in the social dimension scale (with a mean value of 3.86). This shows that tourism enterprises need to further improve the communication of environmental impacts and risks of enterprises to the public. In addition, the Vietnamese Government often organizes activities such as conferences, seminars and annual meetings on tourism-related issues to disseminate and discuss tourism development issues. This is also an opportunity for Vietnamese tourism enterprises in general and enterprises in the DHNTB region to participate in communication activities as well as contribute to tourism development.
5.2.2 Implications for employee engagement
The research results show that there is an important mediating role of SGBNV in the relationship between CS and HQHĐ. The research results have shown that when enterprises carry out sustainable activities in terms of economic, social and environmental aspects, SGBNV will increase for the enterprise (hypothesis H2a, H2b, H2c). In addition, once employees are attached to the enterprise, HQHĐ will be improved (hypothesis H3).
From the research results together with the descriptive statistical results of the scale on SGBNV, the author gives the following implications for tourism enterprises in the DHNTB region in Vietnam:
Firstly, the observation variable “strong belief in the organization and acceptance of the organization’s goals and values” has the highest mean value in the SGBNV scale (with a mean value of 3.84). This shows that DHNTB tourism enterprises need to further improve internal communication work in the enterprise. Internal communication focuses on building relationships between departments in the enterprise, relationships between management and employees so that everyone in the enterprise has a common vision and clearly understands the strategic development goals of the enterprise. Enterprises need to convey information about the enterprise’s goals and implementation plans to employees, and at the same time connect related departments to strengthen SGBNV with the enterprise. From there, it helps to build strong belief in the organization among employees and employees will accept the goals and values of the organization.
Second, the observation variable “strong desire to maintain organizational membership” has the second highest mean value in the SGBNV scale (with a mean value of 3.83). This shows that tourism enterprises in the DHNTB region need to further improve their human resource work in the enterprise. Leaders need to demonstrate their management ability by addressing the concerns of employees in the enterprise. Especially in the tourism industry, when many experts recognize that Vietnam is currently lacking human resources in tourism, the role of business leaders is to increase interaction with employees. To successfully interact with employees requires the attention of leaders to employees and most importantly, the enterprise is willing to listen and respect the opinions of employees. When the enterprise does this well,
With this, employees will be willing to make efforts to work and stay with the business for a long time, thereby helping to increase business performance.
Third, the observation variable “willing to make significant efforts on behalf of the organization” has the third highest mean value in the SGBNV scale (with a mean value of 3.82). This shows that tourism enterprises in the DHNTB region need to further improve their activities to improve their corporate image and brand. In fact, when employees tend to be proud of the organization they are working for, they will increase their SGBNV with the organization. Accordingly, employees will be willing to make significant efforts on behalf of the organization. Performing well the activities of the enterprise towards sustainable development with core contents on economy, society and environment will help the enterprise enhance its prestige and reputation, thereby gaining more attractiveness not only to employees but also to partners, investors and tourists. These things help to enhance HRD. Fourth, the observation variable “leaving the business will be very costly” has the fourth highest mean value in the SGBNV scale (with a mean value of 3.81). This shows that the issue of salary as well as treatment policies is an extremely important factor in retaining employees. To increase competitiveness and adapt to environmental changes, attracting good workers to work in the business is a top goal in the human resource policy of businesses. To do this well, salary is not the deciding factor, but it is always the top important factor to help businesses achieve their goals. However, according to the research results, this factor has not received appropriate and appropriate attention. In addition, one of the factors affecting SGBNV is job stability. Stability is a basic need of the majority of employees, especially for a developing country like Vietnam and in the tourism industry, where the labor force is considered to be in great demand. In addition, the ability to be stable shows the development potential of a business, which is a guarantee for employees to trust, contribute and stick with the business.
Finally, the observed variable “duty to the business and belief that staying is the right thing to do” has the lowest mean value in the SGBNV scale (with a mean value of 3.80). This shows that DHNTB tourism enterprises need to further improve policies on salary, bonus and benefits to create more attachment for employees in the enterprise. In addition, enterprises need to establish mechanisms and
Strictly implement the democratic mechanism in the enterprise, this will help employees have confidence in the enterprise. Enterprises need to: (i) communicate so that new employees know their rights and obligations to the enterprise; (ii) ensure safe and healthy working conditions, pay salaries on time and in full, create favorable conditions for employees to improve their professional qualifications and (iii) enhance the ability to best meet the appropriate needs and desires of employees as well as treat each employee fairly and objectively, respect and recognize the contributions of employees to the enterprise.
5.2.3 Implications for local community participation
Based on the results of testing the hypotheses on the positive impact of CS on increasing STGCĐDP (hypotheses H6a, H6b, H6c) and STGCĐDP on increasing HQHĐ (hypothesis H7), it shows that when enterprises carry out sustainable activities in terms of economic, social and environmental aspects, STGCĐDP will increase, and through that, HQHĐ will be improved. From the research results, the author gives the following implications for tourism enterprises in the DHNTB region in Vietnam:
First, the observation variable “local communities are playing a leading role as innovative entrepreneurs and workers” has the highest mean value in the scale of STGCĐP (with a mean value of 3.84). The research results indicate that when tourism enterprises carry out activities that take into account economic, social and environmental issues, this affects the participation of local communities. In addition, the research results also show that STGCĐP in tourism increases the operational efficiency of tourism enterprises in the DHNTB region. Accordingly, it is necessary to increase community participation in tourism development. To enhance the role of local communities in tourism development, it is necessary to raise awareness of the economic, social and environmental impacts of tourism for local communities as well as improve their experience in participating in tourism, especially experience with tourism enterprises participating in tourism business and experience in participating in maintaining local public hygiene and protecting the natural environment of tourist destinations.
Enhance the role of local communities in tourism development, in which local communities should be “innovative entrepreneurs” and the main human resource for tourism development. Tourism contributes to the preservation and development of cultural heritages and brings economic benefits to local communities and conserves nature and biodiversity while minimizing environmental impacts. In particular, local communities play a key role in creating an environment
attractive tourism. Local communities participate in preserving unique heritage values and have the potential to exploit tourism products. Each person can be a tour guide to effectively introduce and promote local culture and history to tourists. Therefore, tourism development requires the active participation of local communities.
Second, the observation variable “local communities are consulted and tourism policies are reviewed accordingly” has the second highest mean value in the scale of STGCĐP (with a mean value of 3.83). The research results clearly show that awareness and impact of CS are really important for STGCĐP in tourism development. Therefore, planners as well as businesses should focus on enhancing the role of local communities in tourism development.
Tourism is a creative economic sector, the strength of tourism lies in the locality and enterprises. Therefore, to promote the development of tourism, it is necessary to promote creativity, decentralization, and stronger empowerment of enterprises and local communities. The research results also show that local communities play an important and central role in tourism development. When participating in tourism activities, local communities earn income and enjoy benefits, thereby becoming more responsible for preserving resources, cultural identity, protecting the environment, and maintaining security and order.
In addition, the DHNTB region with its diversity of cultural values, typically the Cham Pa and Sa Huynh cultures, the culture of coastal residents, and especially the cultural and historical revolutionary relics, is considered an important potential for developing tourism in the region. Therefore, it is necessary for local people to directly participate in activities to protect natural resources and the environment at destinations. At the same time, businesses and local authorities should proactively promote propaganda to raise awareness of the local community about protecting the ecological environment, maintaining public hygiene, and maintaining cultural identity. In addition, the local community is the subject of managing national cultural heritages, with its own style and lifestyle that needs to be respected. Therefore, the local community is responsible for participating in tourism activities and accordingly, the State's policies and product design plans are considered. At the same time, tourism enterprises need to pay attention to and create conditions for the community to directly participate in tourism development. From there, the local community is empowered to take ownership and implement management activities and support the development of the tourism industry. Finally, the observation variable "local community has a voice in the decision-making process of local tourism development" has the lowest mean value in the scale.
measure STGCĐĐP (with an average value of 3.76). The research results show that the voice of CĐĐP in tourism development is still limited. This can be explained by the fact that local people in the DHNTB region seem to be "vague" and far away from participating in planning and planning for tourism development. On the other hand, due to the reality in developing countries like Vietnam, CĐĐP in tourism development is still limited due to objective and subjective reasons. Therefore, state management agencies and local authorities need to have policies to encourage people to participate, creating conditions for people to promote the value of cultural forms, arts, and traditional crafts to serve tourists. When people participate in tourism activities, they not only have more income but also contribute to preserving traditional beauty. Therefore, the most important thing is to help people realize the role of tourism development for their locality, understand how to do tourism, and thereby voluntarily participate. Only then can tourism be developed sustainably.
5.2.4 Implications for investor commitment
In Vietnam, the policy and legal framework as well as regulations on credit, credit support and capital contribution regulations for SMEs are being gradually improved. The legal and policy regulations are gradually moving towards creating favorable conditions to help businesses overcome difficulties in accessing capital sources so that businesses can develop more stably and sustainably. The Law on Support for SMEs was passed by the Vietnamese National Assembly in 2017.
In addition, the banking sector has also implemented many solutions and policies to support SMEs in accessing loans more conveniently. Along with issuing guiding documents and policies to support businesses, the State Bank of Vietnam has recently implemented many action programs to connect banks with businesses. These activities have created conditions to promote credit capital to support SMEs in developing production and business. At the same time, credit granting forms of credit institutions are increasingly diverse and abundant. Not only that, administrative procedures for borrowing and providing capital have also been reformed and streamlined. In addition, credit institutions have also paid attention to developing preferential credit product packages to support businesses.
The research results of the thesis show that the SCKNĐT for tourism enterprises in the DHNTB region of Vietnam is still relatively low. This is due to the characteristics of tourism enterprises in
The region is mostly composed of SMEs with the main type of business being limited liability companies. In reality, many investors and credit institutions are not really interested in the SME segment. The reason may be due to the limited ability of these enterprises to plan and manage finances. However, the test results show that the impact of CS on economic, social and environmental aspects (hypotheses H4a, H4b, H4c) all have a positive impact on investor commitment. At the same time, investor commitment has a positive impact on increasing the QHĐ (hypothesis H5). From there, some management implications for tourism enterprises in the DHNTB region of Vietnam are:
Firstly, the observation variable “shareholders are increasingly actively participating in the implementation of economic, social and environmental goals of enterprises” has the highest mean value in the SCKNĐT scale (with a mean value of 2.97). This shows that tourism enterprises in the DHNTB region need to proactively improve their financial capacity, risk management and governance activities to increase their ability to meet the conditions for borrowing capital from investors and credit institutions. In addition, tourism enterprises need to research and build a network of external capital sources. At the same time, enterprises need to seek investment capital sources from the capital market, financial institutions, financial companies, as well as investment funds to ensure sufficient capital to help enterprises maintain operations and develop sustainably.
Second, the observed variable “financial institutions integrate CS implementation into their financing analysis and financing decisions for investment projects” has a low mean value (2.96). This shows that tourism enterprises in the DHNTB region need to increase investment and application of information technology in their business activities. The results of the study also show that the positive impact of implementing business activities towards sustainable aspects attracts the attention and response of investors. Thereby, increasing the commitment of investors to businesses. Therefore, businesses need to invest more in these aspects.
Finally, the observation variable “financial institutions where businesses transact are committed to providing sufficient loans for investment projects with the aim of improving the efficiency of resource use and improving society and the environment” has the lowest mean value in the SCKNĐT scale (with a mean value of 2.90). This shows that tourism enterprises in the DHNTB region need to actively participate in business associations to be able to quickly access