Standard Chartered Bank Singapore: Embracing the Silver Lining
(7 pages of text)
Standard Chartered Bank (Singapore) Limited (Standard Chartered) was part of an international banking group that focused on the creation of wealth across Asia, Africa, and the Middle East. As part of its commitment to corporate social responsibility, Standard Chartered launched a project in 2012 called Silver Lining, a community project that aimed to support elderly Singaporeans in meeting their financial and health care needs. Silver Lining had overcome a number of challenges since its inception, choosing appropriate partners and finding ways to help young volunteers overcome language barriers to work with elderly clients. It had also joined with other organizations to collaborate on offering supports and services to seniors in the community, some of whom were dealing with poor mental health. In early 2017, Standard Chartered had to make some key strategic decisions in order to ensure the continued relevance of Silver Lining and justify the need for continued funding for the project.
This case can be used in undergraduate- and graduate-level courses on corporate social responsibility, philanthropy, or corporate giving. After working through the case and assignment questions, students will be able to do the following:
- Identify the underlying factors that led to Standard Chartered’s success as a reputable charitable bank.
- Evaluate and prioritize the allocation of resources needed for community investment efforts to remain locally relevant.
- Describe the concept of social license, and explain the need to align community engagement efforts with business goals.
Finance and Insurance
Singapore, Large, 2017
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