Author Archives: clarice.yong

Hearing from Han Wee Tan  – Partner at Ernst & Young, EMBA’16D

What do you believe are the critical elements for a business to act as a force for good?
For a business to be a force for good, I think there some crucial elements.
• First, the business needs to embed doing good as part of into its strategic vision, purpose and ethos. Doing good forms needs to be a core part of the management agenda, as opposed to being a “nice-to-have” topic.
• Second, a business needs to translate that vision for doing good into sustainable practice. This involves committing time and resources to executing relevant programs over the long-term.
• Third, through active engagement, a business should be a beacon or ambassador for its unique flavor of doing good, ideally marshalling other organizations to participate in the same mission for the good of employees, customers, and communities.

What are some specific actions employees should do to enable a positive social impact on our community?
It is often difficult to generate sustainable social impact given our day jobs. That being said, employees can dedicate their time to doing good via specific channels.
For example, I’ve seen client organizations where a fixed number of hours are set aside regularly for employees to volunteer and support local organizations or charities which align with their causes or values.
Advocacy is an equally important channel. For example, I’ve seen employees who encourage their employers to adopt sustainable practices, or create social impact through diversity, equality and inclusiveness (DEI) initiatives.

What key BAFG principles would you like businesses in Singapore to embrace?
There are a number of important principles to bear in mind.
The first principle goes to the heart of how businesses interact with society. Whilst technological innovation and globalization has been a force for good, it has also left many people behind. Rising economic inequality has caused a decline in public trust in institutions and businesses. It is now increasingly important that businesses focus on long-term value creation for all stakeholders, not just shareholders.
Second, with the definition of value pivoting from traditional, tangible assets to areas like culture, trust and governance, traditional financial reporting metrics are no longer sufficient. In fact, they may pose an impediment to companies’ ability to adapt, forcing institutions to adhere their ingrained mindsets centered on short-term, financial profits.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge?
I am looking for a more active way to contribute to INSEAD post-graduation. The Business as a Force for Good Award is a good avenue for me to contribute, since it allows me to tap into the diversity of client experiences and social impact initiatives I’ve seen in my consulting work.
I also hope that my stepping forward encourages others to do the same, so that our community as a whole will benefit from an increased recognition that businesses should drive purpose and not just profits.

What motivated you to be an advocate for businesses to act as a force for good?
I have always been motivated to help the underprivileged in society. In our daily lives, many of us interact only with those living in mainstream society, but what about those on the fringe? It is these people who need the most help, whether they live in poverty, have unmet needs or lack access to basic necessities.
I believe businesses can do so much to help this segment, and often it is not mutually exclusive to their fundamental purpose of generating profits. It is my hope that all businesses step up and aspire to do good beyond profits, improve their social license to operate and help uplift humanity as a whole.

Meeting our 2023 Judges – Interview series

Post #1 – Diana Gan – Founder of Elementary Capital

Post #2- Kaushik Burman – General Manager & Managing Director at Gogoro India Pvt Ltd)

Post #3 – Dr Vinika D. Rao – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

Post #4 – Mike Summers  – Defence & Security Director, Singapore (ASEAN); Australia Trade and Investment Commission; Australian High Commission, Singapore

Post #5 – Nadir Zafar – Chief Experience Officer, Human Capital Leadership Institute

Post #6 – Tan Han Wee – Partner at Ernst & Young

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Catch-up with 2022 Judges – Interview series

Post #1 – Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health

Post #2 – Apo Ozkececi MCCC’19Dec-S – SVP Commercial & Regional Head, Asia Pacific, Accelya

Meeting with Nadir Ali Zafar  – Chief Experience Officer, Human Capital Leadership Institute, MBA’09J

What do you believe are the critical elements for a business to act as a force for good?
It means focusing on impact more than profitability.

What are some specific actions employees should do to enable a positive social impact on our community?
Volunteer work which can be facilitated by the company. Donate to good causes. Advocate for issues that are important to the community. Reduce waste at the office. Create awareness at work on important social issues.

What are some examples in your profession/ company where you’ve experienced BAFG first-hand?
Focusing on impact to customer rather than on the profit margin.

What key BAFG principles would you like businesses in Singapore to embrace?
Reduce carbon footprint. Introduce sustainability measures in the office.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge?
To serve the community and network.

What motivated you to be an advocate for businesses to act as a force for good?
Governments alone cannot be responsible – businesses must act as they are the major influencers in this field.

What would like to see in the upcoming review of the companies who are nominated?
More diversity in terms of countries where they are coming from, and also industries.

Meeting our 2023 Judges – Interview series

Post #1 – Diana Gan – Founder of Elementary Capital

Post #2- Kaushik Burman – General Manager & Managing Director at Gogoro India Pvt Ltd)

Post #3 – Dr Vinika D. Rao – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

Post #4 – Mike Summers  – Defence & Security Director, Singapore (ASEAN); Australia Trade and Investment Commission; Australian High Commission, Singapore

Post #5 – Nadir Zafar  – Chief Experience Officer, Human Capital Leadership Institute

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Catch-up with 2022 Judges – Interview series

Post #1 – Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health

Post #2 – Apo Ozkececi MCCC’19Dec-S – SVP Commercial & Regional Head, Asia Pacific, Accelya

Hearing from Mike Summers  – Defence & Security Director, Singapore (ASEAN); Australia Trade and Investment Commission;
Australian High Commission, Singapore

What were your key takeaways after graduating from INSEAD in relation to having a positive social impact on the community?
Future-ready businesses that deliberately balance socially responsible impact with short-term financial gain can capture a competitive advantage over the long term. An integrated environmental and social value strategy is critical to today’s business decision-making. Employees, customers, and investors have evolved with more agency and engagement and increasingly expect a company’s values to align with being a force for good. In a post-pandemic world, socially responsible companies that positively impact their communities can differentiate and take advantage of new market opportunities that lead to greater market share and company profits.

What do you believe are the critical elements for a business to act as a force for good?
A company must stand for its beliefs and establish and articulate a higher corporate purpose that embodies a vision, mission, and strategy and shows its employees, customers, suppliers, and community that it can be trusted to live up to its promise to be a force for good. A company that prioritises sustainability and other important ESG issues in its communities can turn the dial on value creation and outperform the competition that only focuses on maximising profits. The days of businesses taking resources and profits without giving back to society are ending.

What actions from companies have you seen which have been a force for good?
Australia is the largest non-NATO contributor of bilateral military aid to Ukraine’s war. Australian defence companies are providing military and humanitarian assistance, including medical equipment and crucial ballistic body armour for the personal protection of Ukrainian soldiers and civilian first responders on the front lines of the conflict. Their patent body armour protects the user from artillery, grenade fragmentation, and impact from firearms, which saves lives. Australia continues to stand with the people of Ukraine and will provide additional support measures in response to Russia’s ongoing violation of international law.

What are some examples in your profession/ company where you’ve experienced BAFG first-hand?
During COVID-19, the Australian High Commission in Singapore focused on training its leaders to understand their pivotal role in fostering well-being within their teams and the ability to observe and act when their team members were struggling. Educating and empowering our leaders through proactive support programs on mental health and well-being have been key elements of a successful Well-being Strategy. Good business leaders recognise that creating a mentally healthy workplace is no longer a peripheral concern but is at the heart of any successful business strategy that connects productive employees with productive communities and a profitable business.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge?
It is a pleasure to be a BAFG Judge on the IAA panel that champions Singapore business leaders that inspire others to be a force for good and have taken action to solve urgent societal problems that enrich communities while creating profitability and responsibility to shareholders. I am grateful to be a part of a cohort of thought leaders who value giving their time to share their outlook for the future of social and economic responsibility.

Meeting our 2023 Judges – Interview series

Post #1 – Diana Gan – Founder of Elementary Capital

Post #2- Kaushik Burman – General Manager & Managing Director at Gogoro India Pvt Ltd)

Post #3 – Dr Vinika D. Rao – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

Post #4 – Mike Summers  – Defence & Security Director, Singapore (ASEAN); Australia Trade and Investment Commission; Australian High Commission, Singapore

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Catch-up with 2022 Judges – Interview series

Post #1 – Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health

Post #2 – Apo Ozkececi MCCC’19Dec-S – SVP Commercial & Regional Head, Asia Pacific, Accelya

Notice is hereby given that electronic voting will be conducted for 2023 AGM from 9^th February to 2^nd March 2023, 6:30 pm. 

AGM will be conducted as an in-person event.
Date: Thursday 2nd March 2023, 6:00 – 7:00pm
Venue: INSEAD Asia Campus, 1 Ayer Rajah Ave, Singapore 138676

A virtual session will be held on 16th February 2023, 7:00 – 7:30pm, to answer questions raised by members so that you can make informed decisions with regards to the voting motions. To register for the session, please click here.

INFORMATION

Please find the 2022 Annual Report inclusive of the proposed 2022 AGM minutes (pages 27-29), 2021 EGM minutes (pages 30-31) and Financial Reports (pages 24-26) relating to The INSEAD Club of Singapore (INSEAD Alumni Association Singapore).

Do not hesitate to contact our President, Jaz Athenia Chua TIEMBA’16Jan, Treasurer Youyi Yuan EMFIN’19Feb or Secretary ChenSiew Lim MBA’22J if you have questions by 2nd March 2023.

ELECTRONIC VOTING

Members will receive an email from [email protected] on 9th February 2023 with the subject: INSEAD Alumni Association Singapore Annual General Meeting 2023 – Voting. Kindly check your SPAM folder if you have not received this email.

Voting ends on 2nd March 2023 at 6:30pm.

We require your participation to vote on these 6 motions:

1. Vote on the 2022 Financial review and statement (pages 24-26 of the 2022 Annual Report)

2. Vote on the proposed 2022 AGM minutes (pages 27-29 of 2022 Annual Report)

3. Vote on the proposed 2021 EGM minutes (pages 30-31 of 2022 Annual Report)

4. Vote for the election of the Executive Board Committee of our Society
4.1 Election of the following Board members or Office Bearers:
4.1.1 Treasurer: Youyi Yuan, EMFIN’19Feb
4.1.2 Secretary: ChenSiew Lim, MBA’22J
4.1.3 Board Member (Lifelong Learning & Career Development): Vandana Ahuja, EMC’19Dec-S
4.1.4 Board Member (Marketing & Communications): Madhura Chavan, EMBA’21Jan
4.2 Re-election for a third term of the following Office Bearer:
4.2.1 President: Jaz Athenia Chua, TIEMBA’16Jan

5. Vote on the constitutional revision of Article X: Dissolution (2) of our society and approve that remaining funds can be transferred to our company limited by guarantee when the society is dissolved

Under Article X: Dissolution (2) of our existing Constitution:

“In the event the Club is dissolved as provided above, all debts and liabilities legally incurred on behalf of the Club shall be fully discharged, and the remaining funds will be devoted to such local charitable organizations as the general members shall decide.”

To ensure that the remaining funds can be transferred to the company limited by guarantee once the society is dissolved, we will add “… or transferred to the new legal company…” and this requires a constitutional revision that is subject to approval by the Registry of Societies.

Once this revision is approved, we will proceed to dissolve the society and transfer the remaining funds to the company limited by guarantee.

6. Vote on the proposed Constitution and By-laws of our Company Limited Guarantee

Based on the mandate given in AGM 2022 to shift our organization from a registered society to a company limited by guarantee, the office bearers and volunteers have dedicated their efforts to initiate discussions with the lawyers to define the constitution and by-laws of the company limited guarantee before incorporating the company.

The approach involved using the existing Constitution and by-laws of the society as the benchmark and making adjustments to comply with the Companies Act that the company limited guarantee is bounded by. The objective is also to maintain the current procedures and processes of the general meetings and daily operations for simplicity.

• Ordinary members are INSEAD alumnus who has paid membership fees and thus have voting rights at the Ordinary Members’ Meetings
• Council members are known as the “Executive Committee Members” under our society structure. They are also the board of directors running the organization. The maximum term that each council member can serve on the board is 6 years.
• A corporate secretary will be employed by the company limited guarantee to carry out secretarial and administrative duties as required by the Accounting and Corporate Regulatory Authority (ACRA)

Once the proposed Constitution and By-laws are approved by the Members, we will proceed to set up the company limited by guarantee. The name of the company limited by guarantee can only be confirmed after application is made and approved. The proposed name is “INSEAD Alumni Association Singapore Limited” which is subject to approval by ACRA.

Listening to Masami Soto, Founder of Buy One Give One – Empirics Asia

Can you tell us about your experience winning this award and what it means for your business?

It’s fantastic to see prestigious business schools like INSEAD is focusing on this topic to mobilise businesses as a force for good. And we are excited to be awarded the award that we see as a special recognition for the years of work we have been doing with small to medium size businesses around the world for the last 15+ years. We know keywords like ESG, Sustainability and COP27 are trending. But we often neglect the power of small businesses and the everyday choices of people around the world. So, for us to receive this recognition is an indication that ‘the power of small’ can really become a force for food in the world.

How does your business balance the need to be profitable with the desire to make a positive impact?

We have a limitless desire to make a positive impact which is sometimes hard to match with the ability to make more money because money wasn’t the motivating factor for us when we started this work. But to sustain and grow what we do, to create a greater impact, we definitely need financial sustainability and growth. That balance is required for real sustainability whether we are a full-profit or non-profit entity. For us, balancing that comes with our pursuit to find ways to add greater value to our members (they are our clients).

Can you discuss any measurable impact your business has had on society or the environment as a result of its efforts to be a force for good?

Our work over the past 15+ years we’ve worked with hundreds of projects in 48 countries supported by thousands of businesses from 47 countries. And those activities created more than 310 million positive impacts. These ‘impacts’ include over half a million trees planted, more than 5 million meals given, nearly 30 million days of education support provided, and much more.

Can you discuss any partnerships or collaborations your business has formed in order to have a greater positive impact?

We collaborate with small businesses that are running their different business activities everywhere, every day and help them incorporate positive and tangible global impact in their everyday actions and transactions. For example, every time a coffee shop serves a cup of coffee, they might give access to water to people in need. Every time, a consultant has a Zoom call, they might educate a child for a day. These everyday actions are part of the fabric of our society and when we collectively integrate acts of kindness and social impact into these ordinary actions, we really can change the world for good. \

How does your business communicate and educate the public about its efforts to be a force for good?

We continuously work on doing good easier and simpler. By finding great projects and breaking them down into micro opportunities, we can make it possible for every small business to consider making ‘doing good’ part of their everyday operation and journey as a business. It’s so easy to say “one day, when we are more successful…” but today is the day we can start doing good when we are not worried about the size of good we do.

Can you discuss any advice or lessons learned that you would like to share with other businesses that are looking to make a positive impact?

Taking small steps regularly – rather than waiting for large opportunities.

Meeting our 2023 Judges – Interview series

Post #1 – Diana Gan – Founder of Elementary Capital

Post #2- Kaushik Burman – General Manager & Managing Director at Gogoro India Pvt Ltd)

Post #3 – Dr Vinika D. Rao – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Post #2 – Masami Soto, Founder of Buy One Give One – Empirics Asia

Catch-up with 2022 Judges – Interview series

Post #1 – Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health

Post #2 – Apo Ozkececi MCCC’19Dec-S – SVP Commercial & Regional Head, Asia Pacific, Accelya

Hearing from Dr Vinika D. Rao  – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

What motivated you to be an advocate for businesses to act as a force for good?  When you do something that has an impact on others, you have to ensure that said impact is positive rather than negative. It’s about feeling that you are ‘stewards’ who have been entrusted with something that you need to take care of, develop and be accountable for protecting. To be done with a sense of humility, an awareness that you will not be around in this role forever, only for as long as you are useful to those that you are impacting, and so you should also be developing other stewards who can take over from you. I believe the BAFG awards will recognize the efforts of such leaders and organizations and catalyse similar impetus by others.

What were your key takeaways after graduating from INSEAD in relation to having a positive social impact on the community? By intentionally delivering profit with purpose, responsible business leaders can prioritise the needs of current and future generations and our planet. As the recent discussions at COP 27 have highlighted, the problems that we need to solve require the combined and urgent stewardship efforts of all of us. BAFG has to go a step beyond being driven by the business case for doing good. For true impact, responsible business leaders have to embrace the idea that their organizations must be ‘purpose-driven’, delivering value to a wide array of stakeholders. They need to look beyond their shareholders, to include their employees, customers, suppliers, and the larger communities that they operate within, to be effective stewards for all.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge? The BAFG awards provide their nominees with the opportunity to showcase their Stewardship Approach of long-term value creation by balancing the needs of all their stakeholders, including their present community, future generations, and the Planet.

What do you believe are the critical elements for a business to act as a force for good? Companies need to understand that increasingly customers will not buy from them, employees will not work with them, investors will not fund them and partners will not collaborate with them if they do not integrate the SDGs into their value chains to optimize their impact on multiple stakeholders.

Anything else you would like to add? As a leading global business school, INSEAD can lead by example by integrating societal impact into its own operations and pedagogy, developing responsible business leaders, and contributing to local and global prosperity.

Meeting our 2023 Judges – Interview series

Post #1 – Diana Gan – Founder of Elementary Capital

Post #2- Kaushik Burman – General Manager & Managing Director at Gogoro India Pvt Ltd)

Post #3 – Dr Vinika D. Rao – Executive Director, INSEAD Emerging Markets, Gender & Africa Initiatives; Asia Director, HGIBS

Catch-up with 2022 Winners – Interview series

Post #1 – Michelle Woo, VP Venture Build, ENGIE Factory Asia Pacific (Corporate Winner)

Catch-up with 2022 Judges – Interview series

Post #1 – Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health

Post #2 – Apo Ozkececi MCCC’19Dec-S – SVP Commercial & Regional Head, Asia Pacific, Accelya