Economist Impact, with support from the Institute of Philanthropy, last week launched the first series of its multi-part research programme, The Business of Doing Good. The series offers insights into the evolving landscape of corporate responsibility, business priorities and stakeholder engagement across Asia’s fast-changing economies.
Drawing on research across 13 markets—Bangladesh, Mainland 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, Economist Impact says the series explores how companies are rethinking their role in society. The research unpacks the meaning of “doing good” by examining the factors shaping corporate motivations and mapping common archetypes to characterise how businesses are blending commercial ambition with societal value.
According to Economist Impact, key findings include:
- Businesses in Asia are expected to serve society as much as shareholders: Family-led companies and national development goals often create informal expectations for firms to make contributions to society and the environment.
- Culture and religion matter: Confucian, Buddhist, Hindu and Islamic values, along with collectivist traditions, often frame businesses as moral actors with duties to their communities and countries.
- Businesses are moving from cheque books to long-term strategy: Companies are increasingly linking social initiatives to their core expertise, creating integrated, long-term value for the business and the public.
- Impact sticks when it supports the bottom line: Social initiatives are most successful when they reinforce business goals—boosting retention, reputation and capital access—though overly commercial approaches can harm credibility.
- Good intentions aren’t enough: Fragmented regulations, inconsistent reporting and limited data make measuring impact difficult. Clearer standards and stronger accountability will help drive meaningful actions.
- There’s no single formula for doing good: Culture, regulation, business logic and generational pressures all interact differently across Asia, so companies must tailor their approaches to create lasting value.
“In Asia, doing good has long been woven into the fabric of business,” said Charles Ross, head of policy and insights, Asia-Pacific at Economist Impact. “Shaped by cultural values, government priorities and collective responsibility, companies across the region recognise that prosperity and purpose go hand in hand. Our research shows that these unique-to-Asia influences are driving more strategic and purposeful approaches to how companies do good.”
To help businesses align purpose with impact strategy, the first report in the series, The Business of Doing Good in Asia, introduces six distinct profiles of corporate engagement. These profiles provide a lens through which companies can assess their purpose, refine their approach and identify new pathways to create meaningful impact.
The second report in the series, The Business of Doing Good in Asia: exploring profiles in action, examines how profiles are put into practice by businesses. Economist Impact says tt 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.
“This research reflects our commitment to equipping leaders with regionally grounded tools for action,” said Lester Huang, chairman of the Institute of Philanthropy. “By capturing the diverse ways companies pursue public good, the series helps to advance a more strategic and context-aware approach to corporate purpose.”
To explore the insights from The Business of Doing Good, click here.
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