Author Archives: lucy.estcourt

Introducing Antonio DeLorenzo GEMBA’15 – Head of Innovation Labs, ING.

What were your key takeaways after graduating from INSEAD in relation to having a positive social impact on the community? I furthered my love for entrepreneurialism and ethics in business, and build upon that foundation every day.

What do you believe are the critical elements for a business to act as a force for good? Equity, social justice, environmental impact, good governance, and a general sense of consciousness by employees.

What actions from companies have you seen which have been a Force For Good? I believe any dollar deployed to help humans consciously and responsibly further our interests in industry, are good dollars. I don’t believe in revolutions but in evolution and this is exactly what we’re seeing today. In the last few years, businesses have done lots to help reduce the negative effect we have on our planet and allow us to create more equity among communities and people. Great examples are decarbonization in shipping, the net zero banking alliance, and the big (and slow) shift from using fossil fuels to alternative sources of energy. I’ve also seen more businesses focused on less enabled communities like those with less capital or less access to technology.

What are some specific actions employees should do to enable a positive social impact on our community ? Firstly,  always question the status quo to seek opportunities for improving people’s lives, communities and the environment. Then link these opportunities to individual contributions for them to tackle, or raise them with a company that can make a change. Second, help colleagues, management, families, and communities be aware of what their companies are doing to help our lives.

What are some examples in your profession/ company where you’ve experienced BAFG first-hand? It’s great observing colleagues and leaders consciously work at ensuring a healthier workplace. It doesn’t take much time to ask someone how they’re doing but the effect is great. It leads to happier people leading happier lives at work and having better relationships with their colleagues, families, and communities.

What key BAFG principles would you like businesses in Singapore to embrace? Openness. Singapore is home to many companies, and a second home to many more. It’s a great opportunity to embrace dialogue across sectors that can enable more openness in knowing what we’re all dealing with, and can give us the ability to come together to tackle challenges we collectively face.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge? I’ve always been interested in alternative business models with inclusion. BAFG doesn’t mean good needs to be an alternative to what we do every day. Rather, what we used to call alternative needs to become the norm.

What motivated you to be an advocate for businesses to act as a force for good? Together with the community of my alma mater, we can push for a better tomorrow through positivity and rewarding progress.

Anything else you would like to add? The impact every dollar deployed may have on society and the environment should be carefully considered. Looking after our planet and communities should be of equal importance to profitability and compliance with laws.

Meet The Judges Interview Series

• Series #1 – Li Lian Liew GEMBA’13 – Director, Corporate Panning at Tan Tock Seng Hospital & Central Health
• Series #2 – Brad Fraser MAP’18 – Head of Prime Derivative Services Asia Pacific at Barclays

In 2020 Right People Renewable Energy (RPRE) won the INSEAD Alumni Association Singapore ‘Business As A Force For Good’ Award. We caught up with RPRE founder Robin Pho GEMBA’17 for an update on what his company has been up to since winning the award.

PEOPLE: Despite the COVID pandemic, we’ve tripled our employment headcount, including hiring people with disabilities. We’ve also partnered with JRS and UNHCR, to provide long term employment to Afghanistan refugees in their Jakarta office. In 2020, we won a B Lab award for “Best for Environment, and Best for Workers”, putting us in the top 5% of all certified B Corporations globally.

PLANET: We’re working on some very exciting decarbonisation projects involving solar and energy storage systems, including large scale floating solar projects in Batam, Indonesia, allowing clean energy to be exported to land scarce Singapore. We also continue to work on social impact projects, including Willing Hearts, a charity in Singapore, and a wind turbine project for a Refugee Learning Center in Bogor, Indonesia.

PROFIT: Since winning the BAFG Award, our revenue and pipeline of projects have grown significantly. We’ve successfully raised funding from New Energy Nexus, Loyal VC, and have been approached by other investors to further fund their growth plans.

Parting comment: It’s really heartening to see INSEAD alumni using business as a force for good and I’m looking forward to seeing many more purposeful and impactful companies sprout from the INSEAD eco-system. After all, INSEAD is the business school FOR the world.

Introducing Brad Fraser MAP’18 – Head of Prime Derivative Services Asia Pacific at Barclays. He is one of handful of experienced judges selecting the winners of our 2022 BAFG Awards. Find out his thoughts on the subject in our second “Meet The Judges” interview series. To read our first interview, click here.  

What were your key takeaways after graduating from INSEAD in relation to having a positive social impact on the community? My perspective of the wide impact businesses can make broadened. I was also able to consider new and innovative business models that can calibrate for impact, and the power of diversity as an enabler of that process.

What do you believe are the critical elements for a business to act as a force for good? Having a positive empowering place for people to work and a strategy that delivers impact to the community through product and service, and is carried out in a sustainable and ecological way.

What actions from companies have you seen which have been a force for good? Actions I’ve noticed are bottom of the pyramid business models that empower disadvantaged communities through training and skills development, but are still commercially viable. For example, The Social Space.

What are some specific actions employees should do to enable a positive social impact on our community ? Positive social impact starts with the individual. How we account for our individual choices and decisions, flows into our daily actions in the workplace and at home. Providing we are operating from a social impact perspective, we don’t all have to work for a social enterprise to have a social impact.

What are some examples in your profession/ company where you’ve experienced BAFG first-hand? I’ve worked in teams alongside social impact start ups and established companies, providing them with advise and support at various stages of their development.

What key BAFG principles would you like businesses in Singapore to embrace? Two major challenges we face today are climate change and increasing inequality. I believe businesses that address these issues within a Singapore context, can deliver real value and help shape our community positively.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge? I value the opportunity to be part of INSEAD’s efforts to empower and celebrate businesses that have been a force for good.

What motivated you to be an advocate for businesses to act as a force for good? We need to move beyond the singular model of business as a commercial entity and incorporate a broader view of the many ways business can impact a wide range of stakeholders while continuing to be a commercial success.

Anything else you would like to add? As alumni of a global business school, we have a real opportunity to take this knowledge combined with our experiences, and make a real contribution to the challenges being tackled both locally and internationally. I encourage everyone to step up to that opportunity.

The Judging panel for the 2022 Business As A Force For Good Awards brings together the expertise of INSEAD alumni from across various industries. Li Lian Liew GEMBA’13 – Director, Corporate Planning at Tan Tock Seng Hospital & Central Health, shares her  thoughts on the topic in our first ‘Meet The Judges’ interview series. 

Key takeaways after graduating from INSEAD in relation to having a positive social impact on the community? The realisation that INSEAD alumni are in positions of power and that we have the resources (force) to do better. And….sadly, not everyone wants to.

What do you believe are the critical elements for a business to act as a force for good? Trustworthiness in upholding the “social contract” and continuous open-minded efforts.

What actions from companies have you seen which has been a Force For Good? As a Singaporean it’s great to see many local businesses doing well such as Magorium, which developed NewBitumen – derived from plastic waste – to replace traditional (crude-derived) bitumen used for road construction. Companies that aren’t social enterprises like Grab and Carousell, have also found meaningful ways to do good.

What are some specific actions employees should do to enable a positive social impact on our community ? Social media definitely! The internet allows us to share company experiences as employees, consumers and a community that can influence economic forces. It’s a force for checks and balances that we’ve never had before, and it’s still not optimised.

What are some examples in your profession/ company where you’ve experienced BAFG first-hand? In Singapore there are many community-care organizations that provide healthcare, social support and financial respite for the underserved. These aren’t necessarily social enterprises or charitable organizations. For example, the NTUC (National Trades Union Congress) provides healthcare, insurance, cheap(er) groceries, etc while also dealing with issues of gender equality (especially in the workplace), disadvantaged youths ect.

What key BAFG principles would you like businesses in Singapore to embrace? (1) Understand that actions have consequences, therefore plan accordingly. (2) Understand that Gen Z will not tolerate irresponsible short-termism. (3) Understand that we as a species are in real danger of extinction.

What were the main reasons for accepting an invitation to be an IAA Singapore BAFG judge? It takes all of us, with many actions big and small, to become a collective force for good. This is one of them: a chance to raise awareness and the profiles of what INSEAD alumni are doing, and to promote open sharing to shortcut development to becoming better.

Parting comment: Businesses need to bear in mind that the more of a force for good they become, the more evolved, resilient and profitable they become. It is good for everyone.

Congratulations to ECOSOFTT for winning the ‘Business as a Force for Good Award Singapore 2019 Edition’. Sam Al-Schamma (TIEMBA ‘13 ), a board member and investor in ECOSOFFT, accepted the award on behalf of Marcus Lim (TIEMBA’13) and Stanley Samuel (TIEMBA’13). ECOSOFTT is a social enterprise aimed at addressing the global challenge of water shortage, scarcity and quality.

ECOSOFTT was founded by two graduates of the INSEAD TIEMBA programme, Stanley Samuel and Marcus Lim, both TIEMBA’13J. Their work has helped numerous communities become self-reliant, water secure and sustainable. It has also transformed the lives of thousands of women and girls who have returned to school or learnt economically-useful skills, since they no longer need to spend hours each day collecting water.

ECOSOFTT’s vision is by 2050 to treat over one-trillion litres of water per day; enable 10,000 communities to become water smart; and protect, clean and restore a thousand water bodies.

It is wonderful to see so many INSEAD alumni enabling ‘Business as a Force for Good’. We look forward to recognising other initiatives like this again next year!

Our Entrepreneurship Interview Series continues this week with Ramya Ragupahi MBA’14D, owner and founder of Oh My Goodness! – the region’s only gluten-free certified food company. Read what inspired her to establish the business, the most enjoyable and challenging moments, and advice for alumni also thinking about starting their own company.

Name of your company and year it was established: Oh My Goodness! , April 2017

Key takeaways after graduating from INSEAD: Community is everything. When you’re surrounded, inspired and seeking out individuals who are buzzing at that same level as you, it’s all you need to make magic happen.

What motivated you to establish this business? You know what they say: “if you want something done right, you gotta do it yourself!” I was trying to solve my own problem of not being able to find anything good to eat with all my newly discovered food allergies and sensitivities.

What are the most fun and difficult things about your business? The most fun part is meeting other people who are into the same kind of food and love the goodness of food as much as you do. Every single day is also different which keeps me engaged and always on my toes! The difficult part is being responsible for others. Everything changes once you hire people to work for you, which makes finance management so critical as salaries and rent make up the bulk of our expenses.

Any advice for alumni thinking of starting a similar business? Please stop the cash burn that’s so prevalent in the startup world – some of us could really do with that cash! Hahaha. Your starting point isn’t necessarily the fancy co-working space and be prepared to not take a salary – especially not your post-MBA salary – for a while.

Interesting / fun fact about yourself: If I were re-born and could choose to be anything I wanted to be, I’d be a dancer.

Knowing what you know now, is there anything you would have done differently when you first started out? I may have thought a bit more seriously about starting a business while $150k in debt…hahaha

How are you preparing for recovery after the pandemic? Preparing? Is that a thing? Hahaha. This pandemic is so unpredictable with its twists and turns I’m not sure anyone can really prepare prepare for it in any real way. All you have to do is keep breathing and flow, I think.

Book you’d recommend? Phil Knight’s Shoe Dog is a must for entrepreneurs starting a business out of pure (almost insane) passion and with no initial “seed funding” or “angel investment” to speak of (like me!).

What is your leadership style? Whatever the opposite of micromanagement is.

What keeps you up at night? “Will I make rent and salaries this month?”

Predictions on work trends post Covid: Possibly a fervour for wanting to connect as humans more at the workplace. Well, that’s what I hope! Ha!

Future plans:

• For the company: to grow it to a point where it makes sense to handover to someone who can turn it into what it can truly be, with our fullest potential realised.
• For me: spending a year in France in 2024 while the company runs itself and I watch from afar in pride.

One thing you’ve yet to cross off on your bucket list:

• For the company: exporting our first container.
• For me: a holiday in the Galapagos islands or an Alaskan cruise!

** Ramya is offering all alumni based in Singapore a special discount of 10% off all collections on Oh My Goodness! & an additional 5% discount off corporate orders. Please contact her directly for more details.

Check out our new Members Business Directory for more business owned and managed by IAA SG members.

IAA Singapore’s Entrepreneurship Interview Series kicks off with Denis Lambert TIEMBA’19, founder of Tamuz Ventures. Read what motivated him to start his own business, advice for alumni thinking of doing the same, and more.  

For a list of other business owned by IAA Singapore members click here.

In our final 2021 Volunteer Interview Series, we feature DEI committee member Sonia El Kha MCCC’19Dec-S.  Read about her inspiration for volunteering, predictions on work trends post Covid, and ideas on how we can support alumni during the pandemic.

In this week’s volunteer interview series we feature a VERY SPECIAL volunteer –   Virginia Brumby MBA’09J, ExCo member for social events and IAF, and recent recipient of the esteemed 2021 INSEAD Alumni Volunteer Leader Award. 

Virginia’s volunteering work has been instrumental to the success of numerous IAA programmes and initiatives over the past 12 years. Read about her journey and some of her most memorable moments.

Notice is hereby given that electronic voting will be conducted for the 1st Extraordinary General Meeting (EGM) of ‘The INSEAD Club of Singapore’.

We require the participation of IAA Singapore members to vote on 3 motions:

1. To release funds of upto SGD 25,000 to seek legal advice on the future structure of ‘The INSEAD Club of Singapore’. Click here for details.
2. Vote in Abdullah (Apo) Ozkececi, MCCC’19Dec-S as Vice-President (as required by the IAA SG Constitution Article VI.A.4).
3. Vote in Vibhor Gupta, EMBA’21Jan as Secretary (as required by the IAA SG Constitution Article VI.A.4)

Members will receive an email from [email protected] on 16th November 2021 with the subject: INSEAD Alumni Association Singapore EGM 2021 – Voting. Do check your SPAM folder if you have not received this email. Voting ends on 3 December 2021 at 7.45 p.m.

Results of the votes will be announced at the virtual EGM. This event is for IAA SINGAPORE members only. You can register for the event here.

If you have any questions/feedback, please write to President, Jaz Athenia Chua TIEMBA’16Jan;Vice President-Elect, Abdullah (Apo) Ozkececi MCCC’19Dec-S; Treasurer Amy Xu MBA’14J or Secretary-elect Vibhor Gupta EMBA’21Jan

THANK YOU

We thank the below outgoing Executive Council members for their contributions:

• Board Member for Marketing and Communication– Jean-Francois Legourd, MBA’12D for serving 3 years in this role and we wish him success in his start-up.
• Board Member for Clubs– Julie He, MBA’13D for serving 2 years in this role. We wish her tons of energy for her new baby and continued happiness for her family.
• Secretary– Brad Fraser, MAP’18Apr for his time and effort serving as Secretary and welcome his continued volunteering efforts as a mentor in our mentorship programs.