Philanthropy is the Most Essential Business Strategy for the Sustainable Growth of a Business
November 1, 2013

CKGSB and United Way Worldwide (UWW) recently brought together leading executives, philanthropists and academics from China and the United States to debate the future of philanthropy, share best practices and explore possibilities of collaboration. The forum featured key Chinese activists, such as Wang Zhenyao, CKGSB alumnus and Dean of Philanthropy School of Beijing Normal University, as well as a delegation from the US of over 20 major donors from United Way Worldwide.

Participants discussed key differences between the two countries in the mechanics of philanthropy, yet also identified a number of similarities. Brian Gallagher, President and CEO of United Way Worldwide, emphasized that global corporations, charitable organizations, governments and individual donors can all do their part to bring positive impact to their communities. Meanwhile, Professor Jennifer Huang, CKGSB Professor of Finance, led the discussion at the forum and claimed that data about the result of philanthropic activities needs to be collected in order to analyze changes in the behavior and life patterns of beneficiaries.

Dean Xiang Bing, Founding Dean of CKGSB and Board Member of UWW, claimed that business leaders must have a holistic view of corporate integrity and social responsibility. Dean Xiang emphasized CKGSB’s dedication towards fostering business leaders who incorporate philanthropy into business practices. Dean Xiang claimed that American and Chinese business leaders have a collective obligation to create a world where giving back is not only a humanitarian responsibility, but also an essential measure of business success.

Meanwhile, CKGSB’s dedication towards philanthropy and business in China was further highlighted at the forum. The CKGSB Philanthropy Fund has run high impact philanthropic endeavors including the construction of 683 school libraries in underdeveloped regions in China. Moreover, the School has institutionalized philanthropy in its curriculum, requiring all Executive MBA students to complete 48 hours of community development. CKGSB alumni charitable giving and philanthropic activities were also introduced. In 2008, companies led by CKGSB alumni donated 400 million RMB (US$59M) to Sichuan earthquake relief efforts, accounting for about 7% of China’s total institutional donations.

Full article PDF, in Korean.

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