Extraordinary Endeavors in Turbulent Times: Asian Innovation, Inclusion, and Impact during COVID-19

ASIA BUSINESS COUNCIL HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY 1 7 Ayala Corp (Philippines) Extraordinary Endeavors in Turbulent Times payments; and investments to digitize the infrastructure of its bank. JAZA emphasized the importance of analyzing business metrics to predict future trends. The success of this strategy will likely be key to Ayala Corp.’s future growth in the digital economy. Conclusion While the initial shock from the novel coronavirus has subsided, the economic and health impacts of the pandemic remain. Ayala, which saw its net income fall significantly during the first half of 2020, as did most private sector firms in the country, will have challenging times ahead. Moving forward, the Ayala businesses will need to simultaneously revive profits and address the continuing needs of the community, all while reinventing the centuries-old conglomerate’s business model for a new, digitized economy. To address this challenge, JAZA has crystallized the lessons of the pandemic into a strategy that he describes as “shared prosperity, collaboration, and sustainability.” He is steering a course that will see the company adapt its business model to changing consumer needs while ensuring a fair return on capital, making a positive impact on communities, and protecting the environment for future generations. He believes aligning the institution’s goals to the broader development goals of the country allows a company to create sustainable value. The coming years will show whether the support Ayala has extended to the community during the pandemic, for MSMEs as well as the poor and vulnerable, have helped put the company on track to achieve this vision. A dormitory built for IMI (an Ayala company) employees to reduce travel PHOTO: ROLLY BARAYANG/AYALA CORPORATION