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06 Jul 2020, 02:00
| FROM CUHK: Fruitful Live Chat with Young Entrepreneurs of “The Forbes 30 Under 30 Asia” |
Three young entrepreneurial business alumni, who had just been named on the Forbes 30 Under 30 Asia 2020 List, were invited to share their views on their entrepreneurial journey. The 20-minute long chit-chat session attracted approximately 6,700 viewers. The three speakers are:
For students who are keen on entrepreneurship, the speakers encourage them to go ahead exploring during the university life. “The university offers a wonderful platform where students could leverage numerous resources to give their entrepreneurial ideas a try. For instance, CUHK Centre for Entrepreneurship and CUHK Pi-Centre offer useful advice and connections that could help guide you to solidify preliminary ideas to a real business model,” they agreed. To further promote the entrepreneurial spirit among CUHK-ers, CUHK Alumni Torch Fund joined hands with relevant alumni associations and departments in CUHK, and launched the CUHK Entrepreneurs Alliance (CUEA), an alliance that aims to strengthen the network of CUHK alumni and faculty who are keen on the topic and share valuable resources through talks, meet-ups and interactions. The post Fruitful Live Chat with Young Entrepreneurs of “The Forbes 30 Under 30 Asia” appeared first on CUHK Business School. |
06 Jul 2020, 21:00
| FROM CUHK: CUHK Professional Accountancy Students Take Home Prizes from Big Four Accountancy Firms’ Competitions |
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EY Young Tax Professional of the Year 2020 (Hong Kong) Sachiko Surjono (PACC, Global Accounting Stream, Year 3) won the championship of the EY Young Tax Professional of the Year 2020 in the Hong Kong region. “The competition was both challenging and demanding. It highlighted tax issues relating to e-commerce from both Hong Kong and international tax perspectives,” Sachiko commented. EY Young Tax Professional of the Year is an international competition designed to identify young talent with an interest in tax, help them enhance their professional skills and develop their careers. Participants have an opportunity to share experiences with people from a range of backgrounds and cultures. The competition aims to demonstrate how much the tax profession has changed today and how business is managed in different cultures. The competition aligns with the objectives of the Global Accounting Stream – prepare outstanding accounting students to acquire a global mindset as well as an understanding of international accounting practices and issues. “The competition allowed me to have a glimpse of what a career in tax entails is like. It goes beyond just crunching numbers and filing tax returns. Instead, it is a complex issue that requires an up-to-date mindset on changes in global trade, regulations and technology,” Sachiko added. Sachiko will represent Hong Kong at the national competition to be held in the second half of 2020. Two other PACC students, Tong Ka-man (PACC, Year 3) and Wong Oi-ying (PACC, Year 3), were also among the best 8 finalists. Apart from the prizes to the top 3 winners, they were awarded direct entries to EY’s assessment centre for tax internship or graduate programme. Dr. Edmund Wong, Director of the PACC Programme and Senior Lecturer of the School of Accountancy at CUHK Business School commented, “I am proud of our students’ strong analytical skills and ability to apply them in a complex and ever-changing business environment. I look forward to seeing Sachiko make another breakthrough in the national competition later this year.” PwC’s Career Plus Challenge A team of four PACC students including Sachiko Surjono, Patrick So (PACC, Global Accounting Stream, Year 3), Renee Ko (PACC, Global Accounting Stream, Year 3) and Sammi Leung (PACC, Year 3) got the 1st runner-up of PwC’s Career Plus Challenge in Hong Kong. Patrick shared, “Career Plus Challenge is a demanding yet interesting case competition. As ‘being innovative’ was the key judging criterion of the competition, we had to understand the market thoroughly and figure out strategies that have never been implemented.” This year, Career Plus Challenge centred around the theme “ideal employer”, encouraging students to unleash their creativity as Gen Z representatives. Star mentors from PwC provided professional guidance to the top 10 teams in the final round. Patrick added, “While brainstorming new ideas, our team seriously considered the feasibility, effectiveness as well as costs of our solutions. The case competition is a great learning opportunity as we learned how to strike a balance between innovation and practicality, which is an important skill in the modern business world.” “Creative thoughts form an important element in contemporary business world. Such significance is amplified in the fight against COVID-19,” Mr. Eric Leung, Associate Director of the PACC Programme and Senior Lecturer of the School of Accountancy said. “I am delighted to see that our students, as future accountants, were able to identify problems in workplace, apply their analytical skills and come up with innovative ideas to solve business issues. These are definitely the core competencies we would like to train our students through our programme curriculum.” To let students of the Global Accounting Stream gain international exposure and practical knowledge, the PACC programme organises overseas study trip and various non-classroom trainings such as case analysis workshops and leadership training sessions, with scholarships provided. Discover more about the Global Accounting Stream and other streams of the Professional Accountancy programme here. The post CUHK Professional Accountancy Students Take Home Prizes from Big Four Accountancy Firms’ Competitions appeared first on CUHK Business School. |
09 Jul 2020, 19:00
| FROM CUHK: Many Hats, Same Aspirations |
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Jayford Wong (BBA in Professional Accountancy 2010) is a man of many talents. He spent many years in one of the Big Four firms Ernst & Young (EY) and currently works in the accounting and financial sector. As an emerging writer, he has published numerous essays and novels. His acclaimed new release is a bold integration of the two forms of writing. He also founded social enterprise Green BB social innovation team to run creativity-driven fun activities on environmental conservation. A prime example of the “Slash generation”, Jayford wears many hats but his aspiration has always been the same ─ that is to give people new experiences that touch their hearts in a creative manner. Accounting is in His DNA One may think that Jayford was destined to be an accountant and follow the footsteps of his father, who is also a BBA in Professional Accounting (PACC) Programme graduate from The Chinese University of Hong Kong (CUHK). He remembers visiting CUHK as a child. The beautiful campus made a mark on him. The familiar environment and parental influence inspired him to enroll at CUHK Business School, although he was a top science student back in secondary school. At the start of Jayford’s undergraduate journey, the accounting novice did not perform as well as those who had accounting background. In addition to putting in extra effort, he participated in accounting and business case competitions to widen his horizons and make up for lost time. I’m not particularly gifted, but I believe as long as I work hard I shouldn’t be too far behind. — Jayford Wong  More Than Crunching Numbers After graduation, Jayford entered EY, where real world experience made him thankful for what he had learnt in CUHK. “Professional accountancy training at CUHK Business School has built a solid foundation for me. I could handle accounting and administrative work with ease and communicate with clients and co-workers effectively.” A senior once told Jayford that accounting would always be a good stepping stone regardless of his future career. Jayford finds it very true: “You can get a good understanding of the general condition of a company just by looking at the budget of each department. Accounting is more than crunching numbers.” At the start of his career, Jayford also studied part time for professional accreditation. He was later assigned to US-based private equity clients, which meant he got meetings at night due to the time difference. When he got home from work, it was usually past midnight. “Although my working hours were long, the fast-pace learning process forced me to grow every day and appreciate team work.” An Emerging Off-duty Writer When Jayford was a junior secondary school student, he used to help his mother, a primary school Chinese teacher, grade articles written by her students. It planted the seed of his love for writing. He later minored in Chinese and started dating in CUHK. The experience served as a catalyst that inspired him to put his thoughts into words. He was a prolific award-winning writer during his time at EY. Much of his work was published in his blog. I realised I could empower people through writing when my readers self-reflected because of what I wrote. — Jayford Wong Nowadays, Jayford is not as productive as a writer and publishes about one book a year because his free time is so limited. For about one month a year he locks himself up and focuses solely on writing. Sometimes he even skips meals to avoid interrupting his train of thought so he can complete the project on time. “Sometimes I ask myself, ‘Why don’t I take a break? I’m on leave after all.’ But I want to finish what I’ve started. I believe hardship always leads to something great.”  Jayford’s first book signing event attracted a group of loyal readers at the Hong Kong Convention and Exhibition Centre last year. Jayford takes every setback as a lesson. After making a financial loss initially, he set out to understand the preferences of his readers through social media and adjusted his writing style accordingly. The sales eventually picked up. For his latest book, Don’t Want to Forget Although All Stubbornness Has been Exhausted, he has adopted a new format that integrates essays with novels to illustrate the process of recovering from a break-up. The attempt has proven to be very popular. “Last year I attended a book signing event at the Hong Kong Convention and Exhibition Centre. At first I was nervous and didn’t expect many people to show up. I was moved when I saw a line of readers.” Applying Creativity to Environmental Protection Jayford made the decision to leave EY and start Green BB Friend in 2018. In the prior year, he was invited by a friend who works for a social enterprise to lead a team to assess social needs and offer suggestions to improve the operating model of the organisation. “It made me realise that business acumen and creativity together can change the world.” Jayford thinks traditional environmental conservation activities are limited to picking up litter at the beach or separating waste. He wants to come up with original ideas that encourage people to make use of their imagination to contribute to protecting the environment. “Environmental protection isn’t a mission impossible. It can be fun instead of run-of-the-mill.”  Green BB Friend held its event “Raw Food 30” at Queen Elizabeth School last year. The students had a blast at the green party. Green BB Friend’s first original concept is called “Raw Food 30.” Participants are asked to make edible utensils to eat food with a low carbon footprint. Another project, “Dialogue in Gorlan,” recycles fruit with blemishes into dried fruit and juice as ingredients for participants to style artistic fruit platters. The brainstorming session during each event encourages participants to come up with new ways to promote environmental protection and pass on what they have learnt. These original experiences have been a hit among clients such as corporates, schools and charitable organisations. Soon they will host their first non-local events in Macau and Taiwan. A writer touches people’s hearts with words. A social enterprise stimulates new thinking through creativity. They’re basically cut from the same cloth. — Jayford Wong Although Jayford has three roles to play, he considers his end goal the same. “A writer touches people’s hearts with words. A social enterprise stimulates new thinking through creativity. They’re basically cut from the same cloth. As an accountant I’m good at cost control, so it strengthens the survival of the social enterprise. Perhaps we should care less about labels as long as we have clear guiding principles in life.” This article first appeared in CUHK Business School Alumni Portal, republished with permission from Alumni and Corporate Affairs Office, CUHK Business School. The post Many Hats, Same Aspirations appeared first on CUHK Business School. |
26 Jul 2020, 20:00
| FROM CUHK: CUHK Business School Hosted a Series of Online Talks for the Public to Broaden Business Knowledge during the Pandemic |
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The Chinese University of Hong Kong (CUHK) Business School hosted a “CUHK Business Webinar Series” for students, alumni, the business community and the general public between May and June to encourage continuous learning by acquiring world-class business knowledge during the pandemic. Four live public webinars were delivered by CUHK Business School scholars on 20 May, 2 June, 9 June and 11 June in early evening. The topics covered angel investment, oil ETFs investment, brand building and data visualisation. Close to 1,000 students, alumni, staff and working professionals around the world attended the online talks. To watch the full videos of the talks, please click the URLs. below. Webinar 20 May 2020 (Wednesday) An Introduction to Angel Investment [youtube2]p> Dr. Anson Au Yeung Senior Lecturer, Department of Finance Co-director, Asian Business Studies Programme Synopsis: Crude oil investors are currently witnessing extreme conditions in futures prices. On 20th April 2020, crude futures declined to a negative level for the first time in history. This webinar will brief you on the fundamentals of crude oil futures and provide an understanding on how expiration and contract roll will affect oil ETFs. Language: English [/*][/list] 9 June 2020 (Tuesday) Getting Famous = Successful Brand? [youtube2]p> Prof. Keehyung Kim Assistant Professor, Department of Decision Sciences and Managerial Economics Synopsis: With data being a critical source of competitive advantage, business analysts are now familiar with statistical, economic, and computational methods that analyze data. However, many are not trained to effectively communicate their findings with others, which is essential for decision-makers in inferring managerial insight. Data visualisation serves as a powerful means to present a story embedded in data when it is done right. However, when it is done wrong, misleading visualisation can confuse and even deceive the audience. In this era of big data, effective data visualisation has become even more important. In this live webinar, Prof. Kim will explain why data visualisation is so important with the support of various examples. Language: English [/*][/list] For users who cannot access YouTube, please click here to view the video on CUTV. The post CUHK Business School Hosted a Series of Online Talks for the Public to Broaden Business Knowledge during the Pandemic appeared first on CUHK Business School. |
02 Aug 2020, 18:00
| FROM CUHK: Embracing the Music of Business and Life |
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Learning the Tunes of Business Guided by a lifelong interest in business, Samson chose the Professional Accountancy (PACC) programme at The Chinese University of Hong Kong (CUHK) Business School as his gateway into the business world. “Many people think that accounting deals only with numbers and simple calculations. In reality, accounting is the common language of the business world. It enables you to interpret and understand the rationale behind each number and formulate financial plans and strategic decisions.” Samson understands that academic knowledge is only half of the equation. Business also involves working, communicating and collaborating with people. He found CUHK’s “Comprehensive University” setting and college system fabulous in helping him hone his soft skills. “CUHK’s all-round education celebrates diversity and instils a global mindset in students. We are encouraged to keep an open mind and respect other perspectives. This prepares us to take on today’s world, in which meeting, listening and working with people from all walks of life and nationalities is key.”  Appreciating the Timbres of the World To explore the vast realm of business and to find his place, Samson has taken on six internships and a myriad of extracurricular activities. He purposefully chose different industries to gain the widest exposure: he worked in retail, traditional finance and FinTech. He exchanged at IE University in Spain and, when that was cut short by COVID-19, swiftly took on an equity research internship. I wanted to see the real business world and how I can utilise my academic knowledge in different business settings to formulate new ideas.” “In these turbulent times, you need a broad set of knowledge and skills to innovate, improvise and succeed. CUHK’s all-round education is preparing me for this environment, not only in knowledge but also in mindset and soft skills.” ──Samson Huang In addition to working for established businesses, Samson tried his hand at forging his own ventures. He won the championship at UBS Group Chief Operating Officer Case Study Challenge 2019 and claimed the Best Airport Application Award at Cathay Pacific 24-Hour Hackathon in 2018. During the Hackathon, he attempted to come up with a solution to enhance the airline’s operational efficiency and to provide a better customer experience for travellers, all within 24 hours and with a team formed on site.   Samson also joined the student-led Hong Kong Federation of Business Students (HKFBS) as Internal Vice President. At HKFBS, Samson co-founded JUMPSTARTER IdeaPOP! Startup Pitching Competition, a student entrepreneurship competition under the JUMPSTARTER competition organised by the Alibaba Entrepreneurs Fund. “We offered ideas on what university students were looking for and organised the logistics, marketing and promotion of the competition. I was even the emcee of the finale event. It was an incredible experience.” Creating Music out of Distinctive Voices Through it all, Samson has learnt that communication and collaboration are indispensable to success in business. He sees a parallel with his work as the tenor of the all-boys O’blue Acappella. For unaccompanied vocal music to entrance listeners, each performer has to contribute his voice, in different pitches, to create a divine harmony. This coincides with Samson’s motto: to serve and to lead. “We have to serve others before we can lead. From my internships and collaboration with business leaders, I discovered that leaders are differentiated by how they manage themselves and how their conduct influences the people they lead. I often remind myself to have the right attitude and to perform well to influence and lead others.” “We have to serve others before we can lead. I often remind myself to have the right attitude and to perform well to influence and lead others.” ──Samson Huang   Singing In Harmony with the Next 10 Years Samson is now undertaking another internship at the Corporate Bank division of Deutsche Bank. The decision was inspired by his mentor during the CUHK Mentorship Programme. Samson is finding the experience rewarding and believes it will offer him greater clarity on which career path to pursue. “It is very important to step out of your comfort zone and try new things when you are young,” Samson said. “These experiences help you identify your strengths and career interests. They let you communicate with people from all walks of life and learn to respect others. Most importantly, they shape you as a person, enhance your agility and resilience to the new normal, and enable you to stand out in today’s competitive world.” Samson plans to use the next 10 years to lay the foundation for his career and to hone his capabilities. Then, he hopes to consolidate his knowledge and industry insights, set up his own business and pursue financial innovation. ‘In the Hearth of the Heart a Kindling Spark’ Is he worried about the Future of Work as an accountant? “Technology will be able to replace a very small part of the accounting industry, but in areas that require human intelligence, such as managing the financial goals and plans of a company, those will still require accountants.” Samson believes that technologies like AI and machine learning can be tools to help accountants focus on flexing their soft skills and generating new ideas. “Every one of us is a spark waiting to grow ablaze and to light up the world. Once we learn to harness the power of our true selves, we can change the world for the better, no matter the challenges.” ──Samson Huang  Samson’s confidence for the future was inspired by the lyrics of the song Soul Light by Kim André Arnesen. “The words ‘In the hearth of the heart a kindling spark’ have deeply influenced me. Every one of us is a spark waiting to grow ablaze and to light up the world. Once we learn to harness the power of our true selves, we can change the world for the better, no matter the challenges.” By offering himself to new experiences and possibilities, by attuning to the melodies of life and business, by bringing passion, motivation and the right attitude to everything he does, Samson is primed to take on the future. He is ready to contribute his voice to the music of business. The post Embracing the Music of Business and Life appeared first on CUHK Business School. |
19 Aug 2020, 22:00
| FROM CUHK: CUHK Business School Hosted a Series of Online Talks for the Public to Broaden Business Knowledge during the Pandemic |
|
The Chinese University of Hong Kong (CUHK) Business School hosted a “CUHK Business Webinar Series” for students, alumni, the business community and the general public between May and June to encourage continuous learning by acquiring world-class business knowledge during the pandemic. Four live public webinars were delivered by CUHK Business School scholars. The topics covered angel investment, oil ETFs investment, brand building and data visualisation. Close to 1,000 students, alumni, staff and working professionals around the world attended the online talks. To watch the full videos of the talks, please click the URLs. below. Webinar 20 May 2020 (Wednesday) An Introduction to Angel Investment [youtube2]p> Dr. Anson Au Yeung Senior Lecturer, Department of Finance Co-director, Asian Business Studies Programme Synopsis: Crude oil investors are currently witnessing extreme conditions in futures prices. On 20th April 2020, crude futures declined to a negative level for the first time in history. This webinar will brief you on the fundamentals of crude oil futures and provide an understanding on how expiration and contract roll will affect oil ETFs. Language: English For users who cannot access YouTube, please view the video on CUTV. [/*][/list] 9 June 2020 (Tuesday) Getting Famous = Successful Brand? [youtube2]p> Prof. Keehyung Kim Assistant Professor, Department of Decision Sciences and Managerial Economics Synopsis: With data being a critical source of competitive advantage, business analysts are now familiar with statistical, economic, and computational methods that analyze data. However, many are not trained to effectively communicate their findings with others, which is essential for decision-makers in inferring managerial insight. Data visualisation serves as a powerful means to present a story embedded in data when it is done right. However, when it is done wrong, misleading visualisation can confuse and even deceive the audience. In this era of big data, effective data visualisation has become even more important. In this live webinar, Prof. Kim will explain why data visualisation is so important with the support of various examples. Language: English For users who cannot access YouTube, please view the video on CUTV. [/*][/list] The post CUHK Business School Hosted a Series of Online Talks for the Public to Broaden Business Knowledge during the Pandemic appeared first on CUHK Business School. |
19 Aug 2020, 22:00
| FROM CUHK: Embracing the Music of Business and Life |
|
Learning the Tunes of Business Guided by a lifelong interest in business, Samson chose the Professional Accountancy (PACC) programme at The Chinese University of Hong Kong (CUHK) Business School as his gateway into the business world. “Many people think that accounting deals only with numbers and simple calculations. In reality, accounting is the common language of the business world. It enables you to interpret and understand the rationale behind each number and formulate financial plans and strategic decisions.” Samson understands that academic knowledge is only half of the equation. Business also involves working, communicating and collaborating with people. He found CUHK’s “Comprehensive University” setting and college system fabulous in helping him hone his soft skills. “CUHK’s all-round education celebrates diversity and instils a global mindset in students. We are encouraged to keep an open mind and respect other perspectives. This prepares us to take on today’s world, in which meeting, listening and working with people from all walks of life and nationalities is key.” Appreciating the Timbres of the World To explore the vast realm of business and to find his place, Samson has taken on six internships and a myriad of extracurricular activities. He purposefully chose different industries to gain the widest exposure: he worked in retail, traditional finance and FinTech. He exchanged at IE University in Spain and, when that was cut short by COVID-19, swiftly took on an equity research internship. I wanted to see the real business world and how I can utilise my academic knowledge in different business settings to formulate new ideas.” “In these turbulent times, you need a broad set of knowledge and skills to innovate, improvise and succeed. CUHK’s all-round education is preparing me for this environment, not only in knowledge but also in mindset and soft skills.” ──Samson Huang In addition to working for established businesses, Samson tried his hand at forging his own ventures. He won the championship at UBS Group Chief Operating Officer Case Study Challenge 2019 and claimed the Best Airport Application Award at Cathay Pacific 24-Hour Hackathon in 2018. During the Hackathon, he attempted to come up with a solution to enhance the airline’s operational efficiency and to provide a better customer experience for travellers, all within 24 hours and with a team formed on site.   Samson also joined the student-led Hong Kong Federation of Business Students (HKFBS) as Internal Vice President. At HKFBS, Samson co-founded JUMPSTARTER IdeaPOP! Startup Pitching Competition, a student entrepreneurship competition under the JUMPSTARTER competition organised by the Alibaba Entrepreneurs Fund. “We offered ideas on what university students were looking for and organised the logistics, marketing and promotion of the competition. I was even the emcee of the finale event. It was an incredible experience.” Creating Music out of Distinctive Voices Through it all, Samson has learnt that communication and collaboration are indispensable to success in business. He sees a parallel with his work as the tenor of the all-boys O’blue Acappella. For unaccompanied vocal music to entrance listeners, each performer has to contribute his voice, in different pitches, to create a divine harmony. This coincides with Samson’s motto: to serve and to lead. “We have to serve others before we can lead. From my internships and collaboration with business leaders, I discovered that leaders are differentiated by how they manage themselves and how their conduct influences the people they lead. I often remind myself to have the right attitude and to perform well to influence and lead others.” “We have to serve others before we can lead. I often remind myself to have the right attitude and to perform well to influence and lead others.” ──Samson Huang Singing In Harmony with the Next 10 Years Samson is now undertaking another internship at the Corporate Bank division of Deutsche Bank. The decision was inspired by his mentor during the CUHK Mentorship Programme. Samson is finding the experience rewarding and believes it will offer him greater clarity on which career path to pursue. “It is very important to step out of your comfort zone and try new things when you are young,” Samson said. “These experiences help you identify your strengths and career interests. They let you communicate with people from all walks of life and learn to respect others. Most importantly, they shape you as a person, enhance your agility and resilience to the new normal, and enable you to stand out in today’s competitive world.” Samson plans to use the next 10 years to lay the foundation for his career and to hone his capabilities. Then, he hopes to consolidate his knowledge and industry insights, set up his own business and pursue financial innovation. ‘In the Hearth of the Heart a Kindling Spark’ Is he worried about the Future of Work as an accountant? “Technology will be able to replace a very small part of the accounting industry, but in areas that require human intelligence, such as managing the financial goals and plans of a company, those will still require accountants.” Samson believes that technologies like AI and machine learning can be tools to help accountants focus on flexing their soft skills and generating new ideas. “Every one of us is a spark waiting to grow ablaze and to light up the world. Once we learn to harness the power of our true selves, we can change the world for the better, no matter the challenges.” ──Samson Huang Samson’s confidence for the future was inspired by the lyrics of the song Soul Light by Kim André Arnesen. “The words ‘In the hearth of the heart a kindling spark’ have deeply influenced me. Every one of us is a spark waiting to grow ablaze and to light up the world. Once we learn to harness the power of our true selves, we can change the world for the better, no matter the challenges.” By offering himself to new experiences and possibilities, by attuning to the melodies of life and business, by bringing passion, motivation and the right attitude to everything he does, Samson is primed to take on the future. He is ready to contribute his voice to the music of business. The post Embracing the Music of Business and Life appeared first on CUHK Business School. |
20 Aug 2020, 21:00
| FROM CUHK: CUHK Business School Announces the 5th Hong Kong Business Sustainability Index and Launches the Greater Bay Area Business Sustainability Index |
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The Chinese University of Hong Kong (CUHK) Business School’s Centre for Business Sustainability (CBS) announces results of the 5th Hong Kong Business Sustainability Index (HKBSI) and launches the Greater Bay Area Business Sustainability Index (GBABSI) today. The HKBSI is aimed at charting the ongoing development and performance of Hang Seng Index constituent companies on business sustainability. Compared to the results of the 4th HKBSI released last January, the overall average score of the 50 Hang Seng Index (HSI) constituent companies as at 30 July 2019 in the 5th HKBSI was 57.54 (out of 100 points), up by 2.73 percent, whereas the performance of the top 20 companies remained stable with a slight increase of 1.93 percent. HKBSI aims at encouraging companies in Hong Kong to adopt corporate social responsibility (CSR) as a progressive business model for them to achieve business sustainability. Putting a spotlight on the largest companies as a leading force, 50 HSI constituent companies were invited to complete an online assessment questionnaire concerning their CSR performance for the financial year ended in 2017-18, based on publicly available information. Each company was assessed in three major areas, namely CSR Values, CSR Process (comprising CSR management and practices) and CSR Impact against seven stakeholder groups, as well as the company’s contributions to economic, social and environmental sustainability. As the technical partner of the project, SGS Hong Kong Limited conducted sample check and verification of the information provided by individual companies. For the top 20 HKBSI companies, the mean score of this round recorded an increase of 1.93 percent from 75.57 points in the last round. However, more companies (46%) reached the “Performer” level with an average score of over 60 points. The Hong Kong and China Gas Company Limited and HSBC Holdings plc were at the top level of “Exemplar” with over 90 points. This reflected that these companies’ business sustainability performance has reached an international standard. Prof. Carlos Lo, Director of CBS, explained that the assessment of HKBSI is based on the unique “Values – Process – Impact” (VPI) model, which was developed and launched in 2015 by the Sustainability Management Research Centre. Prof. Lo said, “There has been progressive advancement in the performance of business sustainability over the past five rounds of HKBSI. However, in this round, the change of HSI constituents restricted the increase of the overall average score as companies with a higher average score (58.51 points) were replaced by those with lower scores (37.35 points).” Within the VPI model, the average score of “Values” and “Impact” remained stable compared with the 4th HKBSI, while “Process-Management” and “Process-Practice” improved slightly with 8.54 percent and 4.75 percent rise respectively. In terms of stakeholder analysis, companies were adopting more proactive CSR strategies by putting more effort on improving their environmental practice (+21.32%). This may be due to the increasing global concern on climate change and pollution. The First Business Sustainability Index for the Greater Bay Area To encourage and motivate companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to adopt CSR as a progressive business model, CBS extended its sustainability index project to cover Hong Kong listed companies with operations in GBA that are eligible for southbound trading under the Stock Connect scheme. With the introduction of the inaugural GBABSI, 67 constituent companies of the Hang Seng Stock Connect Hong Kong Greater Bay Area Index (HSSCBBA) as at 30 July 2019 were invited to complete an online assessment questionnaire with the same scope as HKBSI. Benchmarking against the 5th HKBSI results, the overall average score (45.6 points) of the GBABSI companies was lower, but the standard deviation was wider (21.77 points), reflecting a huge performance gap between the top- and bottom-performing companies. The overall performance of the 1st GBABSI was comparable to that of the 2nd HKBSI (observation Year 2015). The performance gap between the top 20 GBABSI companies and the rest was pronounced. The average score of the top 20 companies was 76.64 points and that of the bottom 20 companies was 23.81 points. 43 out of 67 GBABSI companies (64%) scored less than 50 points. As for Hong Kong based and non-Hong Kong based GBABSI companies, the performance gap between them was also wide with an average score of 54.80 points and 36.12 points respectively. Among the assessment aspects of VPI, the GBABSI constituents, particularly those based outside Hong Kong, had much space for improvement in all the four aspects (Value, Management, Practice and Impact), and “Impact” was the weakest area across the board. Commenting on the results, Prof. Lo explained that HKBSI has been compiled for five rounds, and the requirements were well recognised by HSI constituent companies. Among the GBABSI companies, 18 also took part in the 5th HKBSI. HKBSI serves to engage companies in seeking continuous improvement of their CSR practices, while GBABSI seeks to arouse awareness in adoption of business sustainability practices among GBA companies. In 2021, CBS plans to introduce the Greater China Business Sustainability (GCBSI) Index covering 200 listed companies from HSI, FTSE TWSE Taiwan 50 Index, Shenzhen 100 Index and Shanghai Stock Exchange SSE 50 A Share Index. The launch of this consolidated business sustainability index will not only encourage and motivate companies in the region to integrate CSR initiatives into everyday business, but also to serve as a robust indicator for ESG investors in selecting companies with socially responsible corporate behaviour. In addition, the Association of Sustainability Professionals will be established under the aegis of CBS. The association will seek to support corporate sustainability management by promoting the professionalisation of CSR management, including the cultivation of CSR/business sustainability practitioners as professionals, the formulation of a qualification framework for sustainability management, and the performance of qualification accreditation. 5th HKBSI Average Scores 5th HKBSI 4th HKBSI Changes (5th vs 4th HKBSI) 3rd HKBSI 2nd HKBSI 1st HKBSI Changes (5th vs 1st HKBSI) Overall Mean (all companies) 57.64 56.01 +2.73% 50.82 45.73 41.75 +37.82% Top 20 Mean 77.03 75.57 +1.93% 72.46 68.82 57.25 +34.55% HK-based Mean 66.22 64.22 +3.11% 60.01 55.44 49.42 +33.99% Non HK-based Mean 49.53 48.44 +2.25% 42.33 36.02 35.17 +40.83% ————————————————— Overall Performance Level 5th vs 4th HKBSI 5th HKBSI 4th HKBSI 3rd HKBSI 2nd HKBSI 1st HKBSI 90-100 points Exemplar +1 2 (4%) 1 (2%) – – – 80-89 points Pace-setter -2 6 (12%) 8 (16%) 5 (10%) 2 (4%) – 70-79 points Achiever +2 5 (10%) 3 (6%) 6 (12%) 10 (20%) – 60-69 points Performer +2 10 (20%) 8 (16%) 7 (14%) 3 (6%) 8 (16%) 50-59 points Practicer -6 6 (12%) 12 (24%) 7 (14%) 4 (8%) 12 (24%) Below 50 points Explorer +3 21 (42%) 18 (36%) 25 (50%) 31 (62%) 30 (60%) ————————————————— Overall VPI Scores 5th HKBSI 4th HKBSI Changes (5th vs 4th HKBSI) 3rd HKBSI 2nd HKBSI 1st HKBSI Changes (4th vs 1st HKBSI) Values 65.22 66.34 -1.69% 62.40 55.53 54.08 +20.60% Process – Management 66.60 61.36 +8.54% 58.48 54.80 50.97 +30.67% Process – Practice 65.31 62.35 +4.75% 56.22 51.71 37.34 +74.90% Impact 38.62 39.23 -1.55% 32.59 28.51 32.71 +18.07% ————————————————— Process-Practice by Stakeholder Analysis 5th HKBSI 4th HKBSI Practice Change Scores Stakeholders Stakeholders Scores +4.75% 65.31 Overall Overall 62.53 -9.00% 71.79 Investor Investor 78.89 +0.74% 66.99 Employee Employee 66.50 +6.25% 68.81 Customer Customer 64.76 -11.97% 52.36 Government Government 69.48 +7.55% 62.50 Community Community 58.11 +8.81% 61.36 Supplier Supplier 56.39 +21.32% 67.26 Environment Environment 55.44 ————————————————— The Top 10 HKBSI Company Ranking 1. The Hong Kong and China Gas Company Limited 2. HSBC Holdings plc 3. BOC Hong Kong (Holdings) Limited 4. CLP Holdings Limited 5. MTR Corporation Limited 6. Sun Hung Kai Properties Limited 7. Hang Seng Bank Limited 8. New World Development Company Limited 9. Sino Land Co. Ltd. 10. Sands China Ltd. ————————————————— 1st GBABSI Overall VPI Scores – 5th HKBSI vs 1st GBABSI 5th HKBSI Standard Deviation 1st GBABSI Standard Deviation Total 57.54 18.81 45.60 21.77 Values 65.22 16.93 48.30 23.24 Process – Management 66.60 24.79 54.90 28.85 Process – Practice 65.31 21.89 53.36 24.54 Impact 38.62 19.72 29.84 20.95 ————————————————— Overall Performance Level 5th HKBSI (50 Companies) 1th GBABSI (67 Companies) 90-100 points Exemplar 2 4% 1 (1 in HKBSI) 1.49% 80-89 points Pace-setter 6 12% 6 (5 in HKBSI) 8.96% 70-79 points Achiever 5 10% 4 (3 in HKBSI) 5.97% 60-69 points Performer 10 20% 9 (4 in HKBSI) 13.43% 50-59 points Practicer 6 12% 4 (1 in HKBSI) 5.97% Below 50 points Explorer 21 42% 43 (4 in HKBSI) 64.18% ————————————————— Overall VPI Scores – 1st GBABSI (HK-based vs Non HK-based Companies) HK-based Companies Non HK-based Companies Total 54.80 36.12 Values 57.59 38.73 Process – Management 68.18 41.21 Process – Practice 62.48 43.98 Impact 36.35 23.14 ————————————————— The Top 10 GBABSI Company Ranking 1. The Hong Kong and China Gas Company Limited 2. BOC Hong Kong (Holdings) Limited 3. MTR Corporation Limited 4. Sun Hung Kai Properties Limited 5. Hang Seng Bank Limited 6. New World Development Company Limited 7. China Resources Power Holdings Co. Ltd. 8. Sino Land Co. Ltd. 9. Sands China Ltd. 10. Kerry Properties Ltd. ————————————————— Image by 95C from Pixabay The post CUHK Business School Announces the 5th Hong Kong Business Sustainability Index and Launches the Greater Bay Area Business Sustainability Index appeared first on CUHK Business School. |
21 Aug 2020, 08:01
| FROM CUHK: CUHK Business School Welcomes New Faculty Members |
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CUHK Business School has been a cradle of world-class research and paradigm-shifting ideas. The School attaches great importance to knowledge development and transfer, and proactively seeks collaboration with reputable academic institutes and organisations in the industry, with an aim to transform knowledge with real-life impact. The School has provided a dynamic and collaborative work environment for faculty members to achieve teaching and research excellence and to nurture talent, with a deep commitment to the socio-economic development of Hong Kong, mainland China and the region. Following a successful worldwide recruitment campaign, CUHK Business School has appointed two associate professors, seven assistant professors, one research assistant professor and two associate professors/professors of practice. Their diversified range of experiences and expertise will be valuable additions to the School’s community. All new faculty members and the institutions from which they obtained their Ph.D. are listed below: School of Accountancy Prof. Bella Ya KANG (The National University of Singapore) – Assistant Professor Expertise: Disclosure; Analyst Coverage; Banking; Tax; Empirical Corporate Finance; Behavioral Finance Prof. Sheryl Xiaolu ZHOU (University of Waterloo) – Assistant Professor Expertise: Financial Accounting; Financial Statement Analysis Prof. Chunmei ZHU (The University of Chicago) – Assistant Professor Expertise: Debt Contracting; The Consequences of Credit Default Swaps; The Role of Regulation (e.g., whistleblower provisions of the Dodd-Frank Reform Act of 2010) on Reporting Quality; Management forecasts Department of Decision Sciences and Managerial Economics Prof. Kevin Hongfan CHEN (The University of Chicago) – Assistant Professor Expertise: Revenue Management; Platform Economy; Optimization under Uncertainty Prof. Jenny Qianran JIN (McGill University) – Assistant Professor Expertise: Digital Platform and Consumer Behavior; Sharing Economy and its Societal Impact Dr. Paul KITNEY (The Australian National University) – Professor of Practice in Finance and Economics (a joint appointment by Department of Finance) Expertise: Adaptive Learning; Financial Friction Macroeconomics; Hedge Fund Strategies; International Finance; Macroeconomics; Macro Investing; Microeconomics; Monetary Economics Prof. Chiu-yu KO (Boston University) – Associate Professor Expertise: Applied Game Theory; Economic History; Financial Economics; Industrial Organisation; Political Economy Prof. Hongfei LI (University of Connecticut) – Assistant Professor Expertise: Artificial Intelligence; Causal Inference in Platform Study; Machine Learning in Service; Statistical Computing Department of Finance Prof. Gang LI (University of Toronto) – Assistant Professor Expertise: Asset Pricing; Financial Derivatives; Investment; Machine Learning School of Hotel and Tourism Management Prof. Sungwoo CHOI (Pennsylvania State University) – Research Assistant Professor Department of Marketing Prof. Tony KE (University of California, Berkeley) – Associate Professor Expertise: Microeconomic Theory and Industrial Organisation; Quantitative Marketing Prof. Howard Pong-yuen LAM (CUHK) – Associate Professor of Practice in Marketing Expertise: Branding Strategy; Data Mining/Text Mining; Marketing Management; Marketing Research; New Product Launch The post CUHK Business School Welcomes New Faculty Members appeared first on CUHK Business School. |
31 Aug 2020, 19:00
| FROM CUHK: From Waste to Wonders: Recycling Pioneer Turns Challenges into Opportunities |
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Meet Harold Yip (BBA in Marketing 1987, Executive MBA 2001), a graduate with double degrees in business from The Chinese University of Hong Kong (CUHK) Business School. Harold established MilMill last year. It is the first factory in Hong Kong that turns waste paper into environmentally friendly products such as recycled toilet paper and copy paper. When COVID-19 hit, everyone was scrambling for bathroom rolls in the city, and it would have been a golden opportunity for Harold to sell his products. Unfortunately, his fledgling business couldn’t profit from this. His biggest problem: There simply wasn’t enough waste paper for his mill to turn into pulp for recycling. So he had to come up with creative solutions. “I truly believe that after the pandemic, more and more people will be interested in learning how to live a healthy and sustainable life.” — Harold Yip One of the solutions was to work with District Councils and other organisations to increase the number of waste paper collection stations. Community support came pouring in, and the volume of recyclables increased rapidly within two months. “We received mail from enthusiastic supporters every day,” Harold recounts. “The beverage cartons had all been cleaned thoroughly, and some packages were even from overseas. It was such a huge encouragement for all of us!” His company also received donations from supporters. In addition, he is planning to raise funds through crowd-funding and pre-sell his products online.  The Long Road to Circular Economy The opening of MilMill came on the heels of a long journey that Harold embarked on 11 years ago. At that time, he had just quit his job as CEO of Fook Woo Paper (later renamed as Integrated Waste Solutions Group). It was the peak of his corporate career, which began as a salesperson in the paper industry. While most people regarded old documents as nothing but garbage, Harold saw a viable commercial opportunity in them. Using his knowledge in the paper industry, he chose to start a hi-tech paper recycling company with a business partner. The company, Secure Information Disposal Services Ltd (SSID), shreds confidential documents for companies. It uses a proprietary RFID system, which allows clients to track the end-to-end process from pick-up to destruction, greatly improving the trust factor. “The recycling business was an ideal entry point because we’re charging clients for handling their confidential documents, and after destroying those documents, we turn them into recycled paper products that we can sell,” Harold said. “CUHK’s liberal environment helped me understand that there was so much more to do beyond studying, I had a chance to develop my interests and learn how to learn. Participating in various student-led organisations nurtured my mindfulness in caring about the community.” — Harold Yip SSID also helps clients, including CUHK, perform waste audits and waste-reduction planning. This type of business isn’t one that turns a quick profit like many others. But Harold has never been interested in making a quick buck. In fact, when he graduated from CUHK, most of his classmates entered the banking field because it was very lucrative. But he was more interested in becoming a social entrepreneur. Establishing SSID was his first step in realising that dream. Social Entrepreneurial Dream Comes True Running a business in a relatively new industry isn’t easy. It took seven years before SSID could turn a profit. When it finally did, Harold felt that it was time to dive deeper so he could get closer to his goal. MilMill is his dream come true. The lead-up to the opening of MilMill took a great deal of effort and investments. Using his sales skills and past contacts, Harold secured contracts from 3,000 companies. They would be the mill’s waste paper suppliers. In October 2019, he reached an agreement with a paper factory in Vietnam. Under the agreement, MilMill would export pulp to the factory for it to manufacture recycled toilet paper. MilMill would then purchase the products to sell in Hong Kong. Why did Harold choose to enter the pulping business? He explains: “Pulping can completely remove all words and images from paper. This is the safest and most sustainable way to manage confidential documents.” In addition, he says, pulping makes it possible to recycle waste paper products that are difficult to break down, such as beverage cartons. The ability to break down these materials allows MilMill to amass more raw materials for recycling. It also opens up opportunities overseas. “Beverage carton is a composite material, and there are international laws that restrict it from being exported as wastage, “Harold says. Once the material has turned into pulp, however, it can be exported. The initial market response to recycled toilet paper was quite positive. MilMill sold the product in small retail stores at first. The demand increased rapidly. In May, the product appeared on supermarket shelves. When the pandemic broke out, MilMill was forced to halt its production because of a shortage in raw materials due to the lockdowns. The supply of beverage cartons and other waste paper dropped by 90 percent and 50 percent, respectively. But Harold wasn’t frazzled by these formidable challenges. He ploughed on to keep his business afloat. “A pulping machine works at its best when it’s kept in operation around the clock. Similarly, we should always look ahead and make the most out of every moment that we have!” — Harold Yip  Moving Forward as Recycling Pioneer While recalibrating his next steps after the pandemic, Harold remains hopeful and full of new ideas. He and his business partner are looking to expand their operation by collecting waste directly from beverage companies and malls, then pulping and exporting it to their Vietnam facility. There, the pulp will be made into recycled cardboard boxes and tissue paper and sold back to the companies that supplied the waste. “Guiding people to develop new habits is much more complicated than simply attracting a consumer to choose a particular brand,” Harold said. He believes there is still much room for improvement when it comes to educating consumers about recycled products. “Like other commercial goods, recycled products require marketing to change consumer habits,” he says. Harold’s brain is always in action, churning out new ideas constantly. “A pulping machine works at its best when it’s kept in operation around the clock. Similarly, we should always look ahead and make the most out of every moment that we have!” This article first appeared in CUHK Business School Alumni Portal, republished with permission from Alumni and Corporate Affairs Office, CUHK Business School. The post From Waste to Wonders: Recycling Pioneer Turns Challenges into Opportunities appeared first on CUHK Business School. |
06 Sep 2020, 20:00
| FROM CUHK: Look Forward, and Spark Onward! |
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“Look Forward” is the tagline, the brand expression introduced by The Chinese University of Hong Kong (CUHK) Business School in 2019. It is an attitude, an inspiration to our action rather than an action itself. It is the forward-looking spirit we cultivate in our people – who constantly seek out and encourage new ways of learning, thinking and engaging with the community. We share a determination to make the future better for all. At CUHK, students can learn about different ways of life beyond textbooks. They can maximise their potential to become their best selves through an array of experiences and exposures. By bringing in impactful research, global perspectives and life lessons, our faculty members empower students to make an impact on their future. Looking forward also means focusing on developing our people to meet the challenges and provide solutions of the future. When our students become alumni, they would become forward thinkers with their competitive edge – owning a well-rounded mindset and key skillset, as well as an extensive alumni network. Such “Look Forward” attitude enables them to navigate through changes nimbly whenever life throws a curveball. Amidst a future with COVID-19 uncertainty locally and globally, CUHK Business School unleashes the “spark” in our people to shine through highs and lows. To that end, as students embarked on their CUHK journey, they can glow as they grow in both professional and personal spheres. Just as the star-like “spark” in our logo symbolises enlightenment, the School has boldly blazed a trail for business education in Hong Kong and Asia, and continues to enlighten many. We nurture innovative and entrepreneurial mindset in socially minded leaders, leveraging on our deep connections to the Pearl River Delta to actively contribute to the social and economic development of this region. As you envisage your future and carve out your own path, we hope you will share our #LookForward spirit and #BeYourSpark. Explore what’s in your future with us now! The post Look Forward, and Spark Onward! appeared first on CUHK Business School. |
07 Sep 2020, 01:00
| FROM CUHK: CUHK Business School Welcomes More Than 1,500 Local and International Students for 2020-21 |
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Today, the School offers 10 undergraduate programmes and 18 postgraduate programmes including MBA, Executive MBA, Master, Master of Science, Master of Philosophy and Doctor of Philosophy. CUHK Business School advocates building a culturally, ethnically, and socioeconomically diverse academic environment. To this end, the School admits outstanding international students each year. For this academic year, the School welcomes students from 22 countries/regions, including Argentina, Australia, Canada, China, Germany, India, Indonesia, Ireland, Japan, Kazakhstan, Kenya, Macau, Malaysia, Mongolia, Myanmar, Russia, South Korea, Spain, Taiwan, Tajikistan, Thailand and United States. We look forward to embarking on a fulfilling learning journey with our students. The post CUHK Business School Welcomes More Than 1,500 Local and International Students for 2020-21 appeared first on CUHK Business School. |
09 Sep 2020, 02:00
| FROM CUHK: The Stage Welcomes Students with a Refreshed Look |
Situated on the 3rd floor of Cheng Yu Tung Building, the Stage was founded in 2011 as a restaurant for the School’s hospitality students to engage with different stakeholders such as faculties, alumni and visitors. It has been a vital teaching and learning component of the School’s BBA in Hospitality and Real Estate programme. Prof. David Chan, Professor and Director of School of Hotel and Tourism Management at CUHK Business School said, “The Stage is an important value-add for nurturing our students to become future leaders in the hospitality industry. It incorporates innovative business strategy and learning experiences that are most relevant to the real world environment.” The Stage was renovated this summer with a contemporary design such as new tables and chairs, flooring, paintings, and warm lighting. It will continue to serve as a networking hub for CUHK communities and its affiliates. The restaurant offers light breakfast, a wide selection of Western and Asian dishes for lunch, and authentic Hong Kong delights as afternoon tea.    The post The Stage Welcomes Students with a Refreshed Look appeared first on CUHK Business School. |
16 Sep 2020, 01:00
| FROM CUHK: CUHK Business School Hosts the First-ever Online Inauguration for Undergraduates |
On the students’ first day of university, Prof. Lin Zhou, Dean of CUHK Business School and Choh-Ming Li Professor of Economics, Prof. Andy Wong, Associate Dean (Undergraduate Studies) and Associate Professor of Practice in Marketing of CUHK Business School, and Mr. Peter Yan, Chief Executive Officer of the Hong Kong Cyberport Management Company Limited, took turns to motivate students with words of wisdom on how to maximise their university life. Dean Zhou (left), Mr. Peter Yan (middle) and Prof. Andy Wong (right) to motivate students with words of wisdom. Dean Zhou took the floor by welcoming freshmen from 16 countries and regions, including Argentina, China, Germany, India, Indonesia, Kazakhstan, Macau, Malaysia, Mongolia, Myanmar, Russia, South Korea, Spain, Taiwan, Tajikistan and Thailand. He recounted the story of CUHK and shared with the freshmen three ideas: faith, cultural heritage and unity, which were closely related to the University’s three founding colleges: Chung Chi College, New Asia College and the United College. Prof. Zhou said, “To have a sublime goal beyond oneself and never give up in face of adversity is the essence of being faithful. No one can achieve anything great without a strong sense of conviction, or faith.” He emphasised cultural heritage is a distinct feature of CUHK education, adding that “while being open to the modern thoughts and ideas from the West, it is our duty to study and promote the best of traditional Chinese culture.” Prof. Zhou also encouraged students to embrace diversity of the CUHK community, learn from each other, and meet the challenge of their times together as a whole.  Dean Zhou (right) presented the 2020 Beta Gamma Sigma CUHK Chapter Honoree Award to Mr. Peter Yan (left). Mr. Peter Yan (BBA-Marketing 1985), the CUHK Beta Gamma Sigma Chapter Honoree of 2020, shared his experience with the freshmen in his keynote speech. With more than 30 years of experience working in the IT industry, he indicated that technology would change the way we live and work. However, the demand for talent with interdisciplinary knowledge and entrepreneurial spirit would remain constant, no matter what the changes would be. He encouraged students to make the best of the coming years to equip themselves with knowledge across unconventional disciplines, embrace challenges and opportunities to learn, venture into something new, and treat every setback as an experience to build perseverance. Mr. Yan concluded his speech by sharing his favourite quote, “Life begins at the end of your comfort zone, and do not let fear or failure get in the way of your success.” Finally, Prof. Andy Wong advised students on “how to slow down time” by doing five things in their university life ahead. He recommended students to fill their new chapters with stories and memories by reading more, making more friends, making more mistakes, exercising more, and learning more. He ended the Inauguration Ceremony by saying that, “The best four years of your life start now. Do more to make it slow, to make them last.” The post CUHK Business School Hosts the First-ever Online Inauguration for Undergraduates appeared first on CUHK Business School. |
04 Oct 2020, 19:00
| FROM CUHK: A Resolute Runner Leading Hong Kong’s Endurance Race in R&D |
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In 1994, he completed his MBA at The Chinese University of Hong Kong (CUHK) Business School; and in 2016, he shifted to a different course of career when he joined HKSTP, later becoming its CEO. Drawing from his vast experience in the private sector, Albert is now leading HKSTP in nurturing the Park’s innovative talent and technology companies, fostering the growth of Hong Kong’s innovation and technology (I&T) ecosystem and championing an innovative future for Hong Kong. Gear Up and Race As an avid runner, Albert is adamant about going the distance both at work and in life. He still remembers this one time when he had to present an M&A proposal worth US$200 million to Jack Welch at the GE headquarters. As someone who had only joined the company for a short period of time, Albert found it nerve-wracking enough to come face to face with the legendary CEO, and it was even tougher as he was unfamiliar with the M&A process in the US. All Albert could do was to put in the time and work, learn about the subject, build up his capacity and prepare for the occasion. “When you are confronted with a challenge, you can choose to run away from it or push on. But running away only means you are losing a learning opportunity. I would rather gear up and make the best preparations instead.” — Albert Wong Indeed, Albert is someone who revels in new challenges—the harder the better. “The reason why I chose CUHK Business School’s MBA programme was because it was very hard to get in.” During his studies, he realised that learning is not limited to the classroom, and that he can also draw inspiration from those around him. In a programme populated by professionals from different fields—lawyers, bankers, salespeople, people from the fashion and apparel industry—discussions with these individuals broadened his perspectives and opened his mind. What Albert learnt from those exchanges would benefit his career development immeasurably for years to come.  Albert cherishes the professional knowledge, networks and mutual learning opportunities he acquired at CUHK. These experiences inspired him to pursue further career development in the private sector. After getting warmed up in the private sector, Albert’s enterprising spirit led him to a new course. He decided to join the marathon of Hong Kong’s I&T development, to embark on a race that demands intelligence and endurance. It is a course that he has since been running on for more than a decade. Taking the Baton of HKSTP and Turning Hurdles into Results One of the biggest challenges Albert faced when he joined HKSTP was to determine how to effectively nurture talent, help the Park’s companies commercialise their R&D and raise funds, and advance Hong Kong’s R&D. “HKSTP is not a property development project. You cannot just attract tenants and call it a success. Our real value is measured by the success of all our companies.” Albert adopted GE’s management principles and practices in running HKSTP. He established KPIs to assess the Park’s performance in talent and start-up cultivation, support and fundraising. Albert pointed out that during the past four years, the number of R&D practitioners in HKSTP surged to more than 9,000, making the Park Hong Kong’s largest R&D hub. Additionally, nearly 500 start-ups are participating in HKSTP’s incubation programmes, which have already added more than 700 incubatees to the roster of graduates since the programmes were launched. As for funding, during the past three financial years, the Park’s companies have raised more than HK$29.7 billion. “These are all highly inspiriting numbers. They are a testament to the achievements that our team has made over the past several years.” “We must join the race even if we started late. It is imperative that Hong Kong continues its development in R&D. It is an existential matter for Hong Kong.” — Albert Wong Unleashing Hong Kong’s Potential to Become an I&T Hub To Albert, Hong Kong’s R&D expansion has been delayed for 20 years. But he maintained that, “We must join the race even if we started late. It is imperative that Hong Kong continues its development in R&D. It is an existential matter for Hong Kong.” A knowledge-based economy is set to dominate the world in the future, and technology is an integral part of this. Albert considers Hong Kong’s world-class universities, the R&D talent they produce each year, and the city’s standing as an international financial centre adjacent to massive markets in the Greater Bay Area and throughout Asia to be advantages that Hong Kong can use to catch up. With the government investing nearly HK$10 billion to promote local R&D, sectors such as biomedical technology (biotech), fintech, AI, robotics and smart city are especially well-placed for a breakthrough. Adding to this the excellent environment and ample opportunities HKSTP provides for innovation and cross-disciplinary collaboration, Hong Kong is primed to claim the podium as an international innovation hub.  Albert jokes that, “My ultimate hope is that HKSTP will no longer be necessary, and that Hong Kong’s I&T sector can maintain a vibrant R&D ecosystem on its own.” “In the face of the pandemic, society’s demand for innovation and technology is keener than ever.” — Albert Wong Outsmarting the pandemic. Pivot to survive. Although the global pandemic and economic uncertainty is casting a long shadow over start-ups and affecting their growth, it is at the same time accelerating the R&D of biotech and attracting investors to new opportunities and high-growth projects. Albert said being agile and adaptive is the key to survival. “I believe different opportunities arise from different circumstances. Some of the Park’s companies have already pivoted and have started developing technologies related to the pandemic, healthcare or living in the new normal. We must evolve with the times and turn invention into products demanded by the market. That is the true essence of innovation.” While there are twists and turns and highs and lows along the course of life, Albert still encourages young people and entrepreneurs to stay resolute, spark their innovative spirit and race towards their dreams. As he looks to the future, Albert considers, “Prospects and opportunities abound for Hong Kong’s I&T. Even professionals in sectors such as HR, finance and accounting should consider joining I&T companies to accelerate and catalyse Hong Kong’s I&T transformation and establish it as another major pillar of our economy.” The post A Resolute Runner Leading Hong Kong’s Endurance Race in R&D appeared first on CUHK Business School. |
12 Oct 2020, 04:00
| FROM CUHK: Undergraduates From All Corners of the Globe Embark on Their Learning Journey at CUHK Business School |
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CUHK Business School advocates building a culturally, ethnically, and socioeconomically diverse academic environment. For this academic year, CUHK Business School welcomed outstanding non-local students from Argentina, China, Germany, India, Indonesia, Kazakhstan, Macau, Malaysia, Mongolia, Myanmar, Russia, South Korea, Spain, Taiwan, Tajikistan and Thailand. As the coronavirus rages on, these promising young men and women are denied the pleasure of setting foot on campus to breathe its air and feel its breezes. Yet their enthusiasm is by no means dampened, as they familiarise themselves with the School, their fellow schoolmates and coming university life through online orientations and activities. This may be an eerie time to start an important life chapter, but why should we say no to the lesson life took pains to teach us: that our lives are moving feasts taking no definite shapes, and an openness to the inconceivable shall allow us to make the most of it? This year, the School admitted many high-calibre non-local students through various channels, including: Zhenglong Cui (Integrated BBA)  Zhenglong Cui, the freshman taking Integrated BBA as his major, is from Hubei. Despite pressure brought about by the coronavirus outbreak, Zhenglong managed to stay positive and make good use of the one-month extension to gear up for the examination. He stayed focused taking online classes at home and took care to work and rest at regular hours. All this brought him good results and the award of a University Admissions Scholarship by his dream school. Lucas Hernandes Echaniz (Integrated BBA)  Lucas Hernandes Echaniz from Spain is enrolled in the Integrated BBA programme. Lucas chose to study at CUHK Business School because it is a modern and reputable school strategically located in the global business hub residing on the Pearl River Delta. He is impressed by the programme and believes it is one of the most innovative and flexible business undergraduate programmes in Hong Kong. “The concentrations offered by the programme catered to my inquiring personality. The double concentration option offers me the opportunity to delve into more than one interest, which in my case was important due to my strong interests in both marketing and finance,” shared Lucas. “In addition, the availability of experiential learning programmes, such as overseas exchanges programmes, internships and study trips allows us to enrich our studies with a variety of memorable and enjoyable activities.” Even though Lucas is not able to physically attend CUHK Business School at the moment, he can hardly wait to join student run associations and clubs such as the CUHK Case Competition Team and the Cambridge Consulting Network. He looks forward to continue learning and equipping himself for his future career at CUHK. Jigang Bryan Kim (Global Economics and Finance Programme)  Bryan from South Korea takes a liking to Hong Kong as a metropolitan city with a rich blend of cultures. He chose to study the Global Economics and Finance programme because he was attracted by the University’s forward-looking education policy, international reputation, and the flexible credit-based curriculum. He hopes to make friends with schoolmates of different majors in his College and enjoy the full benefits and unique characteristic of CUHK education. As a child of a diplomat, Bryan moved around the globe during his childhood. He is interested in global relations, especially on how different economies interact with each other. His interest in global economy was further solidified after taking a number of economics classes and internships when he was a high school student. Bryan realised that, to learn more about the global economy, he must be sensitive to the changing world, and it is crucial for him to be constantly exposed to a multicultural environment. He thinks CUHK meets these criteria, as the University has been devoting tremendous effort in equipping its students with a multicultural experience and professional knowledge to help them succeed in the global economy. He also believes CUHK is open to changes which will help him get closer to his full potential. Apart from courses pertaining to his business major, Bryan is also taking courses such as psychology and mathematical economics. He thinks the courses will help him develop into an expert on the global economy in the future. He shared, “CUHK Business School offers a plethora of learning experiences that I couldn’t have imagined before. I truly believe that the School can nurture me into a successful professional in the economics and finance sector.” Xueji Li (Integrated BBA)  Twin sisters Yuji and Xueji from Henan were admitted to the science and Integrated BBA programmes at CUHK respectively. Elder sister Xueji was a winner of first-class award at the National High School Mathematical Competition in Henan province. She is also an excellent painter and Latin dancer. Xueji cited Isaac Newton to explain why she chose to study at CUHK: “If I have seen a little further, it is by standing upon the shoulders of giants.” She added, “As a time-honoured university, CUHK lives up to a long-standing reputation for nurturing many great minds in the economics and finance fields.” With enlightenment and instructions from CUHK professors, she believed she could succeed in her life and contribute to the Hong Kong community. Xueji is passionate about finance, and recounted her experience of choosing new furniture for her new home, through which she had found the charm of finance and made up her mind to pursue a career in the sector. In sharing what she is looking forward to in her university life, she said: “‘All over the place was six pence, but he looked up at the moon’. If you’re focused on looking for six pence on the ground, you’ll never notice beautiful stars in the sky. Likewise, Xueji said, “I am interested in finance from an academic and a professional point of view not because of the potential wealth generated from a successful career, but I truly believe it can help to improve the quality of life for people around us.” Thant Thiri Min (Hospitality and Real Estate Programme)  Thant Thiri from Myanmar was admitted to the Hospitality and Real Estate programme. She is impressed by the programme’s robust curriculum and the University’s study environment. Thant Thiri intends to join scores of extracurricular activities and cross-pollinate ideas and talents with schoolmates. She plans to return to her home country working in the hotel industry for the benefit of the community at large upon graduation. The original article was edited by amyli@cuhkcontents with information from Office of Admissions and Financial Aid. This article is an extended edition of the story entitled “Into Our Fold – Meet the new non-local students in a time of distancing” which was first published in the CUHK website. The story was repurposed and edited by CUHK Business School’s Marketing and Communications Office with permission from Information Services Office, CUHK. The post Undergraduates From All Corners of the Globe Embark on Their Learning Journey at CUHK Business School appeared first on CUHK Business School. |
18 Oct 2020, 20:00
| FROM CUHK: Pursuing Social Business in a Pluralistic World |
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Joshua is part of a growing coterie of elite students to have enrolled in the Global Business Studies (GBS) programme of The Chinese University of Hong Kong (CUHK) Business School. “I picked GBS for my major as it is one of the finest business courses in Hong Kong. Its curriculum is well-structured and internationally oriented; and there is ample support for students to explore different career paths,” said Joshua. Building Cultural Fluency and Business Agility Each student of GBS spends at least two semesters overseas, one at the University of North Carolina’s UNC Kenan-Flagler Business School and another at the Copenhagen Business School. This multicultural experience offered Joshua actionable and invaluable insights into not just foreign cultures, but also international cooperation. “The programme’s tri-continental learning experience enables students to gain the necessary skills that help them succeed in this increasingly globalised and pluralistic world.”── Joshua Chiu  Joshua recalled most fondly his experience working with students from different academic and cultural backgrounds. For one such project, he had to work with students from the US, the UK and Denmark. He described the experience as a “style clash”, as every participant held different approaches to tackling the same issue. “It was only after we learnt to understand each other’s perspectives that we were able to create a holistic solution together. It was a fantastic experience! I have developed lifelong friendships and bonded with students from different countries.” During his enriching exchanges in Denmark, Joshua was also acquainted with what having an entrepreneurial mindset and leading during uncertain times entails. He participated in a month-long coursework modelled on a case competition, where he was required to work with students from various institutions and devise a business proposal for a Danish e-commerce company. “My teammates and I knew very little about the industry and had a steep learning curve. We managed to pull it off through hard work and perseverance, and it was very rewarding indeed.”    Enriching His Business Skillset and Entrepreneurial Mind As a business student, Joshua is relentless in his pursuit of business knowledge and excellence. For example, he joined the Hong Kong Shared Good Values Competition to devise solutions for social enterprises to share good values. Interning at KPMG China, he challenged himself to develop advanced accounting skills within a short period of time. Even during the pandemic, he signed up for an internship at a conglomerate and is learning coding in his spare time. He considered the broad exposure useful to help him appreciate and understand different sectors, companies and the business world better. “CUHK Business School prompts us to continue learning even outside of the classroom, to learn and grow all the time because that is what leads you to success.” ── Joshua Chiu Joshua is also highly accomplished academically. He received the Kunkle and Pommerenke Scholarship in recognition of his academic excellence and leadership abilities. In addition to emerging as a champion at CUHK Academic Cup, he is a student ambassador of the Undergraduate Office of CUHK Business School. He attributes this pursuit of knowledge and experience to the growth mindset that CUHK instils in students. “CUHK Business School encourages students to not only acquire hard-core textbook knowledge, but also develop the soft skills needed for the business world. Additionally, the school prompts us to continue learning even outside of the classroom, to learn and grow all the time because that is what leads you to success.”  Inspired by the Power of Empathy and Social Responsibility Even though Joshua is a business major, it is social businesses and mission-driven organisations that he finds himself gravitating towards. In 2018, he undertook his first internship at Teach for Hong Kong, a non-profit organisation founded by a GBS alumnus Arnold Chan in 2015. It was a rare choice for a business student as most students tend to opt for major commercial enterprises for their first internship. “You can always intern at large companies and for-profit organisations. I wanted to explore how social enterprises or social businesses work. I was intrigued by this mission-driven organisation and how it promoted educational equity and growth-making communities.” “I wanted to explore how social enterprises or social businesses work. I was intrigued by this mission-driven organisation and how it promoted educational equity and growth-making communities.” ── Joshua Chiu However, it was not until he joined a service trip to Cambodia in 2018 that Joshua was most profoundly touched by the indelible impact of social purpose. That winter, he volunteered at Cambodia Youth Action Global Education Center to teach children English as well as to help build their school. “It was a life-changing experience for me. Despite being the children’s tutor, I felt I was the one who was empowered. Learning English was a precious experience for the children. They were exhilarated by the lessons and cherished every opportunity to practice this international language. I was deeply inspired by the power of education, and plan to explore more about social enterprises and social responsibility.”  Soul Searching and Forging Ahead Joshua now intends to first pursue his master’s degree after graduation and then gain further experience in the financial sector. Down the line, he hopes to combine his interests and strengths into a career of his own. “During the past few months, I spent a lot of time figuring out what I want to do over the next five to 10 years. I have decided that my ultimate goal is to utilise my business acumen, business skills and global perspectives to promote community development. I want to help our community achieve not only financial well-being, but also social bonding.” The post Pursuing Social Business in a Pluralistic World appeared first on CUHK Business School. |
20 Oct 2020, 21:00
| FROM CUHK: Leadership and Crisis Management Discussed at the Dialogue with Women Chief Executives and Mentorship Programme 2020-21 |
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Running into its third straight year, in the wake of the pandemic, the theme this year is “Leadership and Crisis Management”. The world has seen unprecedented challenges over the year. From inconvenience of social distancing measures to fear of unemployment and even health threats, people’s lives are overwhelmed by all sort of uncertainties. The women chief executives’ personal journeys and professional experience can shed light on ways of managing crises and overcoming obstacles in the new normal. The testimonies from them come timely, helping to guide students through the challenging times. During the inaugural dialogue for this year, two current undergraduate students, Tam Hok Yiu Sean (International Business and Chinese Enterprise, Year 4) and Law Kwan Lok Richard (Global Business Studies, Year 4), served as the moderators of the panel session for the first time. The student moderators invited three women chief executives to speak on this year’s theme. They included Ms. Diana Cesar, Chief Executive, Hong Kong, HSBC; Ms. Amy Lo, Country Head and Chief Executive of UBS Hong Kong Branch; and Ms. Sally Wan, Chief Executive Officer of AXA Hong Kong.  From left to right: Tam Hok Yiu Sean, Year 4 student of International Business and Chinese Enterprise programme; Ms. Sally Wan, Chief Executive Officer of AXA Hong Kong; Ms. Diana Cesar, Chief Executive, Hong Kong, HSBC; Ms. Amy Lo, Country Head and Chief Executive of UBS Hong Kong Branch; and Law Kwan Lok Richard, Year 4 student of Global Business Studies programme “It’s difficult to define success, but at different points in time and junctures in your lives, we are bound to make different decisions and choices that will shape our future,” Diana shared about her definition of success. “I think it’s important that we equip ourselves along the way to ensure that we are well prepared for what we are about to pursue next.” From sourcing face masks and laptop PCs to encouraging adoption of digital workflows or processes among her colleagues, partners and customers, Sally recounted how she had led her company to maintain business continuity through the COVID-19 crisis. “Whenever there is a crisis, there is always an opportunity that you can grasp to expand.” Amy cited Richard Branson to share how to spread positivity in times of uncertainty, “‘We only live once.’ The key is to make the best out of your time. You must realise where does your passion lie and have to do something you really like. Since its inauguration in 2018, over 1,500 secondary school students, teachers and principals from more than 50 secondary schools, as well as female chief executives and professionals participated in the dialogue series. It will provide students with first-hand insights from senior executives through sharing, mentoring and coaching. The thought-leadership platform is supported by the Women Chief Executives group from 16 leading local and international financial services institutions, namely AXA, Asia Insurance, Bank of China (Hong Kong), Bank of Montreal, BNY Mellon, Citi, Citic, HSBC, OCBC Wing Hang, Mastercard, Rabobank, Standard Chartered, TransUnion, UBS, UOB, and Visa. The post Leadership and Crisis Management Discussed at the Dialogue with Women Chief Executives and Mentorship Programme 2020-21 appeared first on CUHK Business School. |
25 Oct 2020, 18:00
| FROM CUHK: CUHK EMBA Ranks 15th in Financial Times Executive MBA Ranking 2020 |
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CUHK EMBA has risen by 16 spots to 4th globally in the “career progress” category of the ranking. This is a measure that tracks changes in our alumni’s seniority and the size of company they now work in, versus before their EMBA. Compared to results last year, CUHK EMBA also showed impressive progress in areas such as research publications and the proportion of core courses dedicated to corporate social responsibility, ethics, social and environmental issues. Prof. Lin Zhou, Dean of CUHK Business School, said: “This is a fantastic achievement. I would like to thank our faculty, staff, students and alumni for their tremendous support to CUHK EMBA, particularly those who have dedicated their services to the programme over the years. The programme has inspired thousands of business leaders who have been instrumental to Hong Kong’s and the national economic development. This is the 27th year of our programme, and we will continue to keep pace with the dynamic marketplace through an optimal blend of Chinese wisdom and western knowhow.” “We are very pleased to see the positive ranking results and uptick in many key areas of our ranking. The big jump in our career progress rank is testament to our ability of nurturing our students to become top-notch management talent in the ever-changing world and create great value to the business community and society post-EMBA,” said Prof. Howard Lam, Director of EMBA Programme and Associate Professor of Practice in Marketing. CUHK EMBA nurtures top-notch management talent for tomorrow’s challenges in Hong Kong, the mainland, and beyond. The programme is structured around the “six pillars” (Theories, Practices, Internal Network, External Network, Strategic Perspectives and Social Contribution) that aims to enhance the well-being of the business community and society. Relevance is emphasised in the context of Hong Kong’s strategic location within China and the Asia-Pacific region. For more details, please read the full results of the Financial Times Executive MBA Ranking 2020. The post CUHK EMBA Ranks 15th in Financial Times Executive MBA Ranking 2020 appeared first on CUHK Business School. |
01 Nov 2020, 20:00
| FROM CUHK: Charting a Journey of Enrichment and Self-Discovery Through Covid |
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When Alex picked Hong Kong and the Chinese University of Hong Kong (CUHK) Business School to pursue her postgraduate studies, she had a clear plan in mind: “I have always been fascinated by this charismatic, fast-moving financial hub and I really want to work here.” She was particularly attracted to the programme’s practical and hands-on curriculum and its tremendous career support. The extensive alumni network—built upon five decades of graduates now occupying every corner of the industry—was also a draw. Alex is no stranger to living, studying and working away from home. In fact, Hong Kong is just the latest port of call in her spawling escapades. While studying for her Bachelor of Economics at Chengdu’s Southwestern University of Finance and Economics, she had already spent a semester at Singapore Management University and took up an internship at an equity research firm in Shanghai. “I always believe you get what you put into it. That is why I am always pushing myself to do more and to experience more.” ─ Alex Wang  Eager to make the most of her year at CUHK Business School and prepare for a working life, Alex had adopted a “vastly different” mindset and attitude for Hong Kong. “I always believe you get what you put into it. Before I came, I pledged that I would make the most of the opportunities and resources offered to us. That is why I am always pushing myself to do more and to experience more. Essay writing competition? I will be a part of that. Outward bound training? Performing for the orientation dinner? I will do that too.” This outgoing and energetic student not only went after the experiences, but she also went for the results. Shortly after school started, she already clinched an Admission Scholarship of 2019, won a Pre-term Courses Scholarship and claimed the Fifth Prize in the Pre-term Essay Writing Scholarship. A Quest for Personal and Professional Development Alex knew it would be a busy year from the get-go. When she met the programme director, Professor Joseph Cheng, she was given an honest and unvarnished portrayal of what she could expect. She remembers the professor telling her how very intense, very demanding and very challenging the programme would be. “It turned out to be true! But as long as you put in the work, you can definitely learn a lot of things and then some.” Alex particularly relished the real-world relevance of the curriculum, and she derived great pleasure from guest speakers giving speeches and trading simulations. In one of the courses, conducted by the managing director and vice president of a bank and a representative of the Asian Development Bank, she was awestruck by the speakers’ eye-opening perspectives of the credit market and even the Indian market. The camaraderie of her peers was also a source of delight. “I got to be surrounded by a lot of brilliant, talented people with grit who are driven, hardworking and determined.” She became friends with many of them, who continue to motivate her and push her to do better and achieve greater things.  Adapting to a New Learning Environment The outbreak of COVID-19 early this year turned this diverse learning environment upside down. With the programme’s trimester model and classes continuing online without skipping a beat, Alex’s transition to a new learning model was not without strain. “From February to April, I had five classes and sometimes I would have six, seven hours of lectures a day. There were also group projects, presentations and take-home exams that we had to complete within 12 hours. It was intense.” Alex’s key to managing this change was self-discipline. “When you take classes, you can easily leave your laptop on for three hours and not actively listen. Or when it comes to job applications, you can get lazy when you are not in a competitive environment. You must really manage yourself.” “Work hard, be proactive and be open-minded. Make the best of what you have. The programme is a fabulous place to maximise your learning and experience, and to invest in yourself.” ─ Alex Wang But going all-digital also brought new benefits, particularly to student collaboration. Although meeting face to face is easier, Alex said being able to meet through Zoom or WeChat offered students greater flexibility given their packed schedules. “We could have meetings at 10 pm as long as I am not asleep. That was not possible before.” Pursuing a Career in Credits Alex has since completed her final trimester and—despite the tough job market—has landed a job as a Credit Solutions Trading trainee at Natixis, a French financial firm in Hong Kong. She will be working in her favourite area of credit, focusing on credit derivatives including credit default swaps and credit-linked notes, and looking into the fundamentals of the Chinese high-yield market. She will also be researching the creditworthiness of mainland Chinese companies. “I find the bond market hugely interesting and I thoroughly enjoy researching the credibility and creditworthiness of a company. I can spend hours on it.” ─ Alex Wang She believes the MSc Programme in Finance and her internships have helped her establish a good foundation in credit analysis and research, and she trusts that she would be a good fit for this line of work across the board.  Advice to Those Seeking an Intensive and Rewarding Journey Having successfully steered through two rollercoaster trimesters, does Alex have any advice for students considering following in her footsteps? “My roommate is actually in the next batch. My advice to her was to work hard, be proactive and be open-minded; make the best of what you have. The programme is a fabulous place to maximise your learning and experience, and to invest in yourself. #BeYourSpark!” For Alex, she was especially grateful for the myriad resources on campus and online that supported her personal and professional growth. “It has definitely been an intensive, challenging and rewarding journey of personal and professional enrichment and self-discovery.” The post Charting a Journey of Enrichment and Self-Discovery Through Covid appeared first on CUHK Business School. |
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