Sustainability paves the way forward

09 May 2022

The Business Family Insights column profiles business families and how they approach issues of governance and stewardship. They support the SMU Business Families Institute's mission to encourage business families to Think Generations, Think Growth, Think Giving and Think Global. SMU alumnus and Director of Eng Hup Shipping and Bee Sin Shipyard Tommy Phun shares about Eng Hup’s journey in digitalisation and sustainability and his goal for the company to become a leading maritime solutions provider, powered by innovation. SMU Assistant Professor of Strategic Management (Education) and Academic Director of BFI Kenneth Goh said, “While family-owned businesses can be misconstrued as staid, we find that the long-term perspective commonly held by family owners is a strong motivator for next-gen leaders’ transformative efforts. In particular, the transformation to sustainable business models will help to preserve the family’s legacy.”

The Business Times Online