Globalising an Asian family business: William Fung

Dr William Fung, Li & Fung chairman and member of NUS Business School's Management Advisory Board on how the listed Hong Kong-based MNC transformed from a Chinese family-owned business to one with 37,000 staff in 48 economies.

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Mr Fung's statements are contradictary to his supplier policy. He states that governments protection of environmental and social sustainability are not enough and additional control is needed. The Savar building collapse, a sub-contract of Li & Fung (and many other incidents) shows that Li & Fung does not enforce sufficient auditing at their suppliers. In fact he thinks sustainability policy is done when we can present some electric saving implementations in L&F's building but they don't care that their suppliers are often sweatshops producing with lowest wages and minimal saftey standards.