In Asia, the traditional pursuit of profit is being redefined by the mandate of purpose and social responsibility. Finance professionals, whose roles are deeply intertwined with corporate objectives, need to understand the shifting priorities as they impact investment decisions, risk profiles, and long-term value creation. The inaugural series of a multi-part research programme, The Business of Doing Good, offers timely insights into this evolving landscape. The programme is launched by Economic Impact, with support from the Institute of Philanthropy.
Drawing on research across 13 markets – Bangladesh, China, Hong Kong, India, Indonesia, Japan, Kazakhstan, Saudi Arabia, Singapore, South Korea, Thailand, the United Arab Emirates and Vietnam – and insights from over 40 senior executives, foundation leaders and academics, the series explores how companies are rethinking their role in society. The findings unpack the meaning of “doing good” by examining the factors shaping corporate motivations and mapping common archetypes to characterise how businesses are combining commercial ambition with societal value.
Unlike markets where shareholder primacy dominates, Asian companies are often expected to simultaneously serve their shareholders, and society and the environment. This informal mandate is often driven by the influence of family-led companies and national development goals.
Deep-steeped cultural, religious and collectivist traditions, including Confucian, Buddhist, Hindu and Islamic values, often frame businesses as moral actors with duties to their communities and countries. This creates a cultural imperative for social contribution.
Corporate social initiatives are moving beyond simple philanthropy towards integrated, long-term strategies. Companies are increasingly linking their core expertise and business models to social initiatives, in a move which enhances both public value and business sustainability.
Social initiatives are most successful when they reinforce business goals – boosting retention, reputation and capital access – although overly commercial approaches can harm credibility.
A lack of consistent reporting standards, fragmented regulations, and limited data make the crucial task of measuring impact difficult. The findings emphasise the need for clearer standards and stronger accountability to drive genuinely meaningful action.
Asia’s diverse landscape – characterised by variations in culture, regulation, generational pressures, and business logic – means companies must tailor their approach to create lasting value specific to their local context.
According to Charles Ross, Head of Policy and Insights, Asia-Pacific, Economist Impact, companies across the region recognise that “prosperity and purpose go hand in hand”. The research shows that these “unique-to-Asia influences are driving more strategic and purposeful approaches to how companies do good”.
To help financial and corporate stakeholders navigate the evolving landscape of corporate responsibility, business priorities and stakeholder engagement across Asia’s fast-changing economies, the first report introduces six distinct profiles of corporate engagement. They can help businesses in:
The second report in the series, The Business of Doing Good in Asia: Exploring profiles in action, details how profiles are put into practice by businesses. It highlights strategies ranging from embracing a long-term mindset and engaging with stakeholders for greater reach to promoting employee participation and embedding data-driven decision-making into processes. Each profile is accompanied by case studies and questions designed to encourage internal dialogue and guide strategic planning for business stakeholders.
