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. 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:
Ayala Corp
Recommitting to a Broad Stakeholder Eco-system during the Pandemic
Esquel Group
Launching a Sustainable Mask amidst a Public Health Crisis
Fubon Group
Forming a Mobile Phone-based Information System to Prevent Community Outbreaks
Lenovo
Championing Educational Technologies to Enable Virtual Learning Experiences Worldwide
Lotte Group
Embracing “Open Innovation” in E-Commerce for the Post Corona Era
Temasek
Tapping Investment Expertise and Diverse Networks to Help Fight the Virus
Yoma Group
Accelerating Financial Inclusion in a Time of Social Distancing