Last month, the Tanoto Center for Asian Family Business and Entrepreneurship Studies at the HKUST Business School and the Asia Business Council published a joint research report entitled “Extraordinary Endeavors in Turbulent Times: Asian Innovation, Inclusion, and Impact during COVID-19.”
The eight companies that were selected for case research are the Ayala Corp (the Philippines), the DatVietVAC Group Holdings (Vietnam), the Esquel Group (Hong Kong), the Lotte Group (South Korea), the Yoma Group (Myanmar), the Fubon Group (Taiwan), the Lenovo Group (China), and Temasek Holdings (Singapore). They have more than 360,000 employees and assets of more than USD680 billion collectively. It is worth noting that six of them are family businesses.
In the second half of 2020, a series of online interviews with key decision makers in these companies were conducted to form part of the research materials for eight research articles that analyzed how the companies responded to the pandemic in their own strategic, innovative, or impactful ways. The companies also demonstrated their resilience, adaptability, and keen desire to give back to society.
“We hope that this report will illustrate the silver linings of the pandemic, especially during these trying times. More than ever, companies are realizing the importance of social responsibility, reimagining, reinventing traditional forms of philanthropy, and leveraging technology as a force for good in ways that will likely last well beyond the crisis, ” said Professor Winnie PENG, Director of the Tanoto Center, and Ms. Pauline YEUNG, Project Director of Asia Business Council.
Visit ABC-HKUST Joint Research Project for more details about the report and contact afbes@ust.hk for further enquiries.
