2020 has so far been a roller-coaster ride. COVID-19 has impacted the world in a way that is never seen before, devastating the economy and changing life as we know it. Business “as usual” does not exist anymore. Never is stewardship more important to leaders as they (re)position their organisations for success beyond the crisis while navigating immediate, monumental, and rapidly evolving challenges.
At SAC, we are launching new initiatives under Project Stewardship in Action to help, inspire and mobilise the business community to take responsible, values-based action that will build resilient, purposeful business and uplift the community. Read our latest research, articles and curated business resource for key information and best practices to guide recovery and long-term planning. We also welcome new ideas, content and opportunities to connect and collaborate.
COVID-19 has dealt the world a severe double whammy – a pandemic and its consequential economic crisis. In this context, beyond pondering about wealth creation at an inflexion point, it is pertinent to ask: how is stewardship relevant, and in what ways are stewardship actions important to business organisations and leaders under the circumstances? Stewardship Asia Centre's CEO, Ong Boon Hwee, explains how stewardship is more relevant than ever.
From Vision to Commitment – Stewardship Transformation Insights from Banyan Tree
COVID-19 has mobilised businesses globally to accelerate and embrace change in the way they operate, serve customers and the community. We caught up (via Zoom) with Claire Chiang, co-founder and senior vice president of Banyan Tree Holdings Limited, and Chairperson of Banyan Tree Global Foundation, to learn from her stewardship journey and distill practical insights on how businesses can embark on their stewardship transformation.
Stewardship in Action: Business Insights around the Region
As part of our COVID-response initiative, SAC organised and co-curated a series of webinars and e-conversations to engage regional business leaders on how they are navigating these challenging times. Read the insights here.
Building Resilience: Bouncing Back from Crisis
Resilience is not only pertinent to the COVID-19 situation, but may be instrumental in differentiating how businesses recover after surviving the crisis. How can businesses build resilience, and grow by turning setbacks into advantages?.In this article that first appeared in Entrepreneurs' Digest Issue 92, we explore the concept of resilience and bouncing back from crises amidst COVID-19.
Businesses facing up to COVID-19: Synergising Stewardship, Governance and Sustainability
The COVID-19 crisis, while unprecedented, has simply amplified the weakest links in business activities during these volatile times. Now, as organisations shift gears and move towards recovery, at the heart of an ambiguous future lies the questions: to whom, or to what, are organisations responsible? And what should a company’s focus be when paving the way for sustainable growth beyond the crisis?
Investor Stewardship - Facing the COVID-19 Test
Amidst this tremendous disruption, investors as always occupy an important position in the business landscape, and have a critical responsibility in the evolving situation. As an investor, how do you execute your responsibility as a trustee of funds in these tumultuous times?
Family Businesses: Overcoming Covid-19 Crisis by Enhancing Psychological
How family businesses react to the crisis will determine their future growth, survival and legacy. How do we make psychological ownership more tangible and harness it as a lynchpin in this dire climate? Read also our research paper on the subject.
“We are in this together”: The Mindset Guiding Yakun’s Jesher Loi through the COVID-19 Crisis
The ongoing COVID-19 crisis has dealt the global economy a significant blow. We sat down – remotely – with Jesher Loi, Ya Kun’s Director of Branding and Market Development, and next-generation leader, to understand what guides Ya Kun’s response in these challenging times.
Useful guides and resource links
Business Recovery Insights
- McKinsey: Taking supplier collaboration to the next level
- Boston Consulting Group: Sensing and Shaping the Post-COVID Era
- McKinsey: COVID-19: Implications for business
- PwC: Seven key actions business can take to mitigate the effects of COVID-19
- KPMG: Embedding resilience - A guide to the business implications of COVID-19
- EY: Beyond COVID-19: Will you define the new normal or watch it unfold?
- Bain: Back to Work: Recovery from Covid-19 will require resilience as companies advance, retreat, adapt—and repeat as necessary.
- Boston Consulting Group: Win the Fight, Win the Future
- World Economic Forum: Integrated Corporate Governance: A Practical Guide to Stakeholder Capitalism for Boards of Directors
- Institute of Directors: The corporate governance of coronavirus - what boards should consider
- Chartered Management Institute: Corporate Governance During Covid-19: Five Things Better Boards Are Doing Now
- EY: Five financial reporting issues to consider as a consequence of COVID-19
- Harvard Business Review: A Crisis Handbook for Family Businesses
- SAC: Stewardship for Family Businesses: Enhancing Psychological Ownership for Resilience in the Time of COVID-19
- SAC: Stewardship Principles for Family Businesses
- Pensions and Investments: Investors, companies adapting to crisis stewardship
- Principles for Responsible Investment: COVID-19: harnessing the power of collective investor action for change
- International Corporate Governance Network: Coronavirus as a new systemic risk: Implications for corporate governance and investor stewardship
- Stewardship Asia Centre: Business facing up to COVID-19: Synergising Stewardship, Governance and Sustainability
- Think with Google: Why human metrics are just as important as business metrics