Pandemic offers corporations opportunity to improve social responsibility

As the world faces the challenges posed by COVID-19, the issue of corporate social responsibility deserves wider attention, and it requires more effective practice by enterprises, said a senior executive of a leading medical company.

"The outbreak of COVID-19 makes a difference in everybody's life. It also gives enterprises a chance to have deeper insights on CSR," said Kevin Xu, CEO of MEBO International, a California and Beijing-based leading manufacturer of regenerative medical products for burns, wounds and ulcers. MEBO International's operations cover more than 73 countries and regions globally.

"In such a challenging time, enterprises must find a way to provide care and support more effectively and efficiently, and therefore create greater impact on the community," Xu added.

MEBO has cooperated with all relevant parties on the front lines in the battle against the pandemic. It worked with the Chinese People's Association for Friendship with Foreign Countries to provide various kinds of medical supplies to Hubei province, which COVID-19 hit the hardest, through the Hubei Red Cross Foundation.

The company also extended similar support in the United States as it started to face the pandemic.

As an example, the Rongxiang Xu Bioscience Innovation Center in California, funded by MEBO, was opened earlier than scheduled as a free testing site for COVID-19 for Los Angeles County residents.

Recently, the company and Harvard Medical School worked together to provide an online registry for COVID-19-based skin disorders for future study and exploration.

"The purpose of the move was to find out the potential of regenerative science and methodologies to serve COVID-19 patients, and also to look for what research can be done to move the science to the next level," Xu said. "We want to be prepared in the future when we face the virus again."

The partners also built a free online platform, which helps people understand their needs, find the best way to allocate medical supplies, test kits and other related resources throughout the US. Such a tool was utilized by the authorities at the University of Chicago's Harris School of Public Policy, the Massachusetts Institute of Technology and New York University.

"From a long-term perspective, we believe these moves will bring more positive changes in our communities around the world," Xu said.

A young entrepreneur, philanthropist and social activist, Xu has penned a host of articles to inspire enterprises to promote CSR, especially as they fight the pandemic.

Effective CSR strategy

CSR is not a new concept, and many enterprises proclaim their dedication to sustainability and philanthropy. It is considered an essential element of a company and a critical driver of business growth. But how to set up an effective CSR strategy with maximum social benefits is a question worth considering, Xu said.

"CSR is not a single initiative or short-term behavior. It requires joint efforts from all parties across industries, cultures and historic backgrounds. In this course, governments, enterprises and nonprofit organizations should play their different roles to achieve organic development and creates social benefits," Xu added.

A well-defined social mission with long-term commitment is a top priority. When practicing CSR, enterprises should have a specific social mission with clear steps and set concrete, quantifiable goals, according to Xu.

In addition, global vision and worldwide perspective are also significant for Chinese enterprises to take an international path.

"As more Chinese enterprises nowadays go abroad for broader business opportunities, what they face now is how to do CSR in a cross-cultural background," Xu said.

It has been a tradition for companies in Western countries to act charitably. But for Chinese enterprises, there is still a long way to go.

"With different cultural backgrounds, Chinese enterprises should explore their own CSR strategies based on their own resources, advantages and features," he noted. "China is a country with a long history and splendid cultural inheritance. I think this might give Chinese enterprises an advantage for developing CSR over others."

Supporting the development of young people and cultivating young leaders have long been an important part of MEBO's genuine commitment to CSR.

Latest effort

Its latest effort involves cooperation with the Clinton Foundation, which happened in April. The two parties joined hands to establish the COVID-19 Student Action Fund. In this project, young students around the world are encouraged to come up with innovative ideas and creative suggestions to improve methods in fighting the pandemic.

Enterprises provide opportunities to these young people, which helps unleash their potential and allows them to make a difference to the world through their knowledge and understanding, according to Xu.

In 2018, the Kevin Xu Global Initiative on Science, Technology and Inequality was established at The University of Chicago Harris School of Public Policy, which works to cultivate young global leaders in various aspects, such as technology and social policy.

Xu also works as a mentor at Clinton Global Initiative Lead, a program providing special training, evaluation and teaching to young students, who have their ideas and innovative thoughts.

The idea is not about how to make money, but how to gather people who share the same values and ideas to accomplish something that can improve society, Xu explained.

"Such mentorship plays quite an important role in helping young people figure out a proper path to achieve self growth and benefit society," Xu said, adding that it's necessary to establish a similar platform or system in China to cultivate more young student leaders in CSR.

Over the years, MEBO has established cooperation with a number of universities in China, such as Nankai University, Binzhou Medical University and Shandong University.

Xu said he is planning on expanding cooperation with more domestic universities and organizations in the near future.