Philanthropy is the Most Essential Business Strategy for Sustainable Growth of a Business
CKGSB and United Way Worldwide (UWW) convened 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 the Philanthropy School at Beijing Normal University, as well as a delegation from the US of over 20 major donors to UWW.
Participants discussed key differences between the two countries in the mechanics of philanthropy while also identifying a number of similarities. Brian Gallagher, President and CEO of UWW, 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, claiming that the result of philanthropic activities needs to serve as input data in order to analyze the change in the behavior and life patterns of beneficiaries.
Dean Xiang Bing, the 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 constructing 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 service. CKGSB alumni’s 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.