The year 2020 will be remembered for the turbulence caused when a pandemic swept through the world, fundamentally changing people’s way of life, presenting unprecedented challenges to governments worldwide, and forcing businesses to reflect and adapt in order to survive. With this in mind, the Asia Business Council and the Tanoto Center for Asian Family Business and Entrepreneurship Studies at the Hong Kong University of Science and Technology (HKUST) embarked on a six-month research project to analyze how Asia Business Council member companies have responded to the pandemic in strategic, innovative, or impactful ways.
The eight companies that were selected employ over 360,000 people and have assets totaling over $680 billion. In terms of geographical distribution, the companies are from China, Hong Kong, Myanmar, Philippines, Singapore, South Korea, Taiwan, and Vietnam. The key industries the companies are engaged in include education, entertainment, financial services, information technology, investments, real estate, retail, telecommunications, and textile manufacturing. The case studies include: