Public companies obtain GNH of Business certificates

… To operate in line with the 9 domains of Bonheur National Brut

Bhutan Power Corporation Limited (BPC), Bank of Bhutan Limited (BoBL) and Bhutan Telecom Limited (BTL), three state-owned enterprises, received the GNH of Business certificate yesterday.

Their operations were found to be aligned with nine areas of BNB and the values ​​were embedded in the companies.

The GNH Certification Board of Directors has certified the companies following an assessment of almost a month for each company using assessment tools developed by the Center for Bhutan and GNH Studies. The companies had volunteered to be assessed.

The BPC evaluated in June 2021 received four out of five stars. BoB and BTL, rated in 2019, received three stars because their activities were moderately aligned with GNH values. Prime Minister Dr Lotay Tshering awarded the certificates which will be valid for two years.

Few of the companies that were assessed failed to achieve the BNB alignment assessment score.

BNB of companies

The company’s GNH is derived from the principles of the GNH index.

Emphasizing the importance of business metrics used to gauge their success or failure, the idea is to move towards measuring the success or failure of a business using the BNB metric.

According to GNH of Business Assessment Tool for GNH Certification, this involved requiring companies to incorporate non-economic metrics encompassing aspects such as employee job satisfaction, community contribution, and conservation efforts. environment.

GNH of Business is an idea of ​​operating a business with sensitivity to social, cultural, economic and environmental issues and relying on holistic measures of well-being for its performance.

Assessment tools also assess a company’s efforts to integrate BNB values ​​into its operations and practices. The tool is based on the framework of nine fields of BNB studies and 46 indicators.

The nine domains are psychological well-being, time use and balance, cultural diversity, ecological resilience, community vitality, good governance, education, health and standard of living.

BNB of business Evaluation

To emphasize the importance of the well-being of employees and the communities in which a company operates, the tool assesses the most important components in nine areas: worker happiness and the organization’s commitment to happiness.

The assessment assesses the well-being of workers and the organization’s commitment to happiness captures how a commitment to BNB is reflected in a company’s day-to-day operations and practices.

Based on the nine domains and various indicators, some of the ratings were job satisfaction, job confidence, job discrimination and harassment, work overload and sleep hours.

Some of the assessments also include training opportunities offered, support for cultural preservation and promotion, corporate volunteering, corporate donations, and local employment.

The use of renewable energies, energy conservation, emission control, solid and liquid waste controls are also assessed.

CBS and GNH Studies, Karma Wangdi, director of research, said any commercial entity or for-profit company can apply for GNH of Business certification.

“The company would only be eligible for certification if it scores over 50,” he said, adding that it could reapply for assessment.

Karma Wangdi said the data was collected using a structured survey questionnaire through face-to-face interviews. Three waves of large-scale BNB surveys were conducted.

“The benefit of the certificate would be to promote the business,” he said. “We plan to propose to the government to encourage or grant tax benefits to these companies to motivate them to come forward for evaluation.”

Contribution by Yangchen C Rinzin

Researcher Kuensel

Center for Bhutan and GHN studies

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