Guide to
Advanced Education 2014
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The demand for MBA graduates among employers in the region has risen significantly as Asia continues to experience tremendous economic growth. Associate Dean of HKUST’s Business School Sean O Ferguson – who decided a year ago to move from the US (where he had previously run the MBA program at Rice University) to Hong Kong – shares his insights on the appeal and value of an MBA education
arning a top-ranked MBA isn’t just a popularly perceived path to achieving higher earnings. Acquiring the degree, especially in Asia, can dramatically enhance one’s career prospects, thanks to the region’s continued economic growth ahead. “The 1990s was about the US and the country’s impact on commerce and business. We think the 2000s is more about Asia,” says Sean O Ferguson, Associate Dean and Director of MBA programs at Hong Kong University of Science and Technology (HKUST). “So, by being here, you’re well equipped to manage in a place that is going to drive most of the growth in multinational corporations for the next 50 years.”
By Nan-Hie In
From West to East
Training Leaders in Asia for Global Businesses
The economic shift from west to east is evident everywhere in business
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ten years if they are in the US or two to four promotion if they are here in Asia, where there is a great demand for talent among companies looking to capture the growth opportunity. Recruitment surveys also support the claim that an MBA education greatly expands employment opportunities particularly in Asia. According to QS TopMBA.com’s Jobs & Salary Report 2013/2014, which is an annual survey on MBA employment trends, Asia leads the way in the surge of MBA hires. Demand for MBA graduates in the Asia Pacific region rose some 20 percent in 2013, which is the highest number in the survey, while demand in Latin America increased by six percent. The report also forecasts a 38 percent growth in job opportunities for MBA graduates in 2014 – which again is the highest figure in the survey compared to other regions such as North America where growth is expected to be around 16 percent.
Dimensions activities such as the recent listing of Chinese e-commerce giant Alibaba on the New York Stock Exchange in one of the largest initial public offerings in history. Such success underscores the phenomenal growth stories to emerge from China. “A lot of the great Chinese companies are really growing, and they are as big as some US companies now,” says Ferguson, adding that these Chinese enterprises are making acquisitions around the world as one way to go global. To meet their goals of expanding onto the world state, he adds, companies are trying to figure out how to get organized and to get the necessary talent to capture these growth opportunities in Asia. This is also a key reason that Ferguson decided a year ago to move from the US (where he had previously run the MBA program for eight years at Rice University – also his MBA alma mater) to be in Hong Kong at HKUST where he can be part of Asia’s immense growth. Prospective business education students can do the same, particularly
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from this institution’s renowned MBA program. HKUST’s business school has consistently earned top rankings in various reputable media listings, including being ranked 14th in the world and Asia’s number one MBA program in the Financial Times Global MBA Rankings of 2014. In the same listing, HKUST’s facility also captured the number one spot for research in Asia. Applicants can enroll in a 12- or 16-month full-time program. Professionals who are content with their current job posts but are eager to enroll in a program can alternatively turn to HKUST’s part-time MBA offerings and other options that are specifically designed to meet the needs and aspirations of business professionals. “Our programs are on par with the best schools in the US but the outcome can be excitingly more here,” explains Ferguson. “We want to focus on those people who want to be part of the growth and opportunity that Asia presents as a region estimated to have a GDP growth rate of about seven percent in the horizon.”
Earning power With a backdrop of extraordinary growth in economies across Asia, there is true value in earning higher business qualifications in ways that are directly beneficial to graduates, including the ability of make higher earnings as a result. Anecdotally, students typically make US$75,000 to US$80,000 annually after graduate school. Based on HKUST Business School’s trend data, partly due to the tremendous growth in the region, graduates of MBA programs are said to have higher earning potentials in a way that not only ascends faster but also lasts over a longer period of time – projected to be around US$170,000 to US$200,000 in a ten-year period. “Our alums typically double their salary in around ten years after they graduate from business school,” Ferguson points out. He adds that they are much more likely to receive promotions on the job – and on average are generally able to receive one to two promotions within
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Despite such rosy MBAs in Asia trends, prospective students should be aware of other realities that can have an impact one’s future success. One difference between Asia and the US in relation to MBAs is the more conservative recruitment style in this region, Ferguson notes. Furthermore, a career change is also more challenging in Asia than in America. Ferguson says there are three dimensions of a career change: job function (the type of work), industry (the sector to apply the job function) and geography (location). In the US, these dimensions have an impact in a way that is somewhat different from, say, Asia – and one can change all those dimensions and get a job. For instance, a school teacher may become an investment banker – a career switch that is often difficult to accomplish here as recruiters in the region generally emphasize heavily on prior work experience. The top priorities of recruiters in Asia are: prior employer, prior industry experience and their ability to perform, Ferguson says. “Whereas in the US they
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don’t focus as much on the industry with which you are associated – they're more concerned about how you impact your environment.” For instance, when a teacher is able to get a class of students to do better and have higher test scores, it indicates that he or she is difference-maker. The skills could also be re-applied to another area. In Asia, however, hiring managers prefer to seek a candidate based on whether he or she has done the job in the past. Because of such differences in recruitment style here in Asia, it requires more efforts to explain the rationale and value behind an MBA education, Ferguson says. That includes getting companies and corporations to understand why they would want to hire a person with an MBA instead of four non-MBA candidates for the same price. “We often explain to recruiters that undergraduates tend to be task orientated and they help manage costs and activities, and that MBA graduates are here to add revenue to an organization,” he says.
High standards From a student’s perspective, there are other misconceptions about the MBA experience, including the common view that it’s just an extensive networking opportunity, Ferguson says. “We have a world-class standard here; we’re not trying to just get students through the program, and we try to push students because we think you only grow if you’re pushed and challenged.” The high academic standard is to help foster more confidence and knowledge among learners so that they can excel in the workforce and compete well with others, he adds. Precisely, HKUST’s full-time MBA students participate in a competition with other prestigious business schools and are challenged to conceive a smart solution to real business issues of a given company. The business school with the best recommendation wins an award or scholarships.
Sean O Ferguson
“Last year we won in case competitions at University of Southern California and Columbia University,” says Ferguson. “That gives us a sense of affirmation that we’re doing the right thing and that we can compete with the best schools.” Another beneficial aspect of the program in Hong Kong is the opportunity for students to immerse in a highly internationalized setting with a diverse student body, allowing one to collaborate with people from different cultures. About 70 percent of HKUST’s MBA students are from outside of Hong Kong or Mainland China – of which 20 percent comes from the US, another 20 percent from Europe, and the rest from ASEAN countries and elsewhere. “Diversity in the classroom provides you an awareness and sensitivity that can help you succeed in the markets globally because you’ve been exposed to it through your classmates and through the faculty,” Ferguson says. “It’s also infused in how we teach.” To make the MBA program a continuous success, Ferguson is pushing for greater entrepreneurship through HKUST’s 700-plus patents. He says the business school is working closely with the engineering school to commercialize its innovation and technologies as one institution that can one day become the Stanford or MIT of Asia. “Schools tend to measure success by the number of periodicals or academic journals in which they’ve appeared, which can be a good indicator of the capability of the faculty in areas such as research,” he says. “But, there is more, as we have also been focusing on that research to add value to society and have an impact on the way we do business or the way we live.”
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An EMBA Program for Inspiration and Innovation The Chinese University of Hong Kong’s (CUHK) EMBA is a highly ranked program not only here in Asia Pacific but among all other top programs globally. Professor Andrew Chan, Director of CUHK’s EMBA, describes how program participants are driven to reach out, become inspired and innovate through direct engagement with leading business executives and academics around the world
By Wilson Lau
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he competitive edge of The Chinese University of Hong Kong’s (CUHK) EMBA program is to stay current: not just meeting today’s needs but also projecting needs in the future. It constantly incorporates new elements in line with the growing demand of society. “Our society needs people who are globally minded and are the go-betweens for China and the West,” says Professor Andrew Chan, Director of CUHK’s EMBA. Intricately interlinked with the program’s key goals like building a global mindset, other new elements – entrepreneurship, design thinking and a focus on technological development – are embedded into the program where students are inspired to innovate in a world that is moving at a faster pace.
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Innovation & entrepreneurship Cultivating design thinking among its EMBA students is a new dimension – a goal for which the program will jointly offer a course on designing thinking together with the Institute of Design Knowledge, a division of the Hong Kong Design Centre. “Top design practitioners and academics will deliver the course,” Chan notes. The course will harness the synergy generated through the interaction between EMBA students and key designers in Hong Kong, he says. “They will work together. My students will learn from the designers about design thinking. From our students, the designers will pick up some knowledge on business management and strategies.”
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In this day and age when innovation is the name of the game, it is vital for business executives to master design thinking, which is all encompassing. “When you look at an iPhone, for example, it is as much a physical product as the design itself…the way how all the apps are put into the phone,” Chan explains. “Different processes and systems need to be integrated for a great product. That’s how design thinking comes into play.” “We inspire students to look out for what’s happening around them, what’s the talk of the town. When they attend seminars at Berkeley or Stanford, the little word ‘design’ pops up practically every time,” he says. “If that’s the norm, we have to follow the norm. Maybe one day we will lead the norm. That’s our commitment.” Another focus is on the comprehensive ‘how-to’ of entrepreneurship whereby students are encouraged to explore new possibilities. “They will learn about ways to develop a business plan, make a good business proposal and attract angel investors, direct investors and maybe eventually an initial public offering,” Chan notes. Entrepreneurship is a key element closely connected with components of the program. For instance, in the Greater China EMBA Elite Study Week, students can get learn from the tremendous experience from entrepreneurs in Taiwan; in study trips to the
University of California at Berkeley and Stanford University, students can interact with executives from Silicon Valley, a breeding ground for entrepreneurship and innovation.
Training for a global mindset One of the emphases of CUHK’s EMBA program is the Global Study Trips, allowing students to travel outside the Asia Pacific region and explore in-depth cutting-edge business phenomena on top of time-honored traditions and cultural heritage that make the corporate sector in some countries highly successful. In 2013, Germany was the country of study in which “our students looked at how people do business, how the government runs the country, and how the cultural traits affect people’s thinking,” Chan says. “We also explored how German businesses have put high value on quality and reliability and adopted some of their business philosophy such as sustainability.” Other countries such as the Netherlands and Denmark were also countries of study for students. A unique aspect of the global trip is that it is student-led, Chan notes. “At the beginning of the course, we tell the students what we aim to achieve by visiting a certain country and what they will learn from the experience. The
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Andrew Chan
students themselves then decide which country to visit.” The students, according to Chan, are highly engaged from day one of the course to take advantage of the interaction with companies during the anticipated trip, for which they need to conduct research on a number of countries and justify their selection before a final decision is reached through a vote. They may also decide the specific areas of focus, such as demographics, economics, politics, financial and legal aspects of a country. “A major dimension is with the leading corporations in a selected country. The students will do research on outstanding enterprises like Deutsche Bank, Adidas and Lufthansa in Germany and are themselves responsible for the solicitation with theses companies under the guidance of the faculty,” Chan points out. The very process in which the students develop the course is already part of the training, he says. “The course is student-oriented. We give the directions while the students decide on the plan, strategies, itinerary and organizations.” “Globalization cannot be learned inside a classroom. Students have to do research, do presentation, take questions and argue and then do follow-up research. From these, they will learn a lot,” he adds. “They cannot just pitch a place where they can get
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easy access. They have to bring in their resources and learn by doing it.” To further enhance their international experience, students enroll in a course offered by an acclaimed university overseas. The multi-pronged course is not only an opportunity to learn from top-notch professors in a highly specialized field but also a chance to interact with notable business people from corporations in the vicinity of the university. An example is UC Berkeley where students can learn about the latest development in technology, entrepreneurship, and design thinking from companies in nearby Silicon Valley.
The Greater China market The element of integrating classroom learning with interactive experience with leading business professionals in a certain region also works to the advantage of students in the “Greater China EMBA Elite Study Week.” This course is an educational partnership consisting of top business schools from three economies: Guanghua School of Management at Peking University in Beijing; College of Management of the National Taiwan University; and CUHK Business School. The course leverages the unique traits of three cities in the Greater China region. The ties of CUHK Business School within Greater China provide students a great learning experience with professors from their respective universities as well as business executives in the cities. “We couple parts of the regions with the subject matters taught,” Chan describes. “In Hong Kong, the course focuses on finance. In Taiwan, students explore the development of advanced technology and entrepreneurship. In Beijing, they will look at the macroeconomics, policies, and what’s going on in the capital of PRC.” “Students not just learn about the theories. They will actually mingle with the business people and government officials,” he says. “It represents tremendous networking with great future impact. The courses in these cities are
not just about the content – it’s also about the people that also matter: people in Beijing excel at analysis of macroeconomic issues; Taiwanese are good at setting up businesses; and Hong Kong is of course an expert in finance.”
Top ranking It’s been two decades since the CUHK’s EMBA program made its debut in 1993. In The Financial Times’ 2013 EMBA Global Ranking, in which 100 EMBA programs worldwide were surveyed, CUHK’s program stood at number 13. It also ranked number 1 among all independent programs in Asia Pacific. Chan attributes the program’s success to the fact that it is a quality program with well-defined segments and clear objectives. “We have a good image that attracts good students, faculty and alumni to help deliver lectures and recommend students,” he says. “We also benefit from a network of strong outside speakers who are top leaders in Hong Kong willing to share unique perspectives.” “It’s our vision, mission, clear conceptualization on our segments and
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our ability to cultivate a good reputation that are attractive to students and professors,” he adds. “Also our program administrators are happy to run the program in the sense that they contribute to society by doing so. That’s a formula of magic.” The ability to project future needs is a major competitive edge, Chan notes. “That’s why we organize global trips, international courses at renowned universities, and incorporate the Greater China elements. Maintaining the edge means we are on the frontier. People are constantly thinking about new challenges and are not complacent.” “We stay current while looking at the future. We aim to conceptualize what’s immediate in tomorrow’s world. We are trying our best in assembling resources and our networks together to actualize that,” he says. Social media has been utilized to keep students, professors and alumni more connected. For instance, online study groups on various topics, such as strategic marketing, now exist as a platform letting students and alumni jointly discuss academic and practical matters encountered at the workplace. Chan says some discussions have
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inspired him to include new enterprises such as GoGo Van into the curriculum.
New trends As the economy in Asia Pacific has maintained fast growth, CUHK’s EMBA program has placed no less of an emphasis on China. “Our professors do research on this dimension. We have students working in China. But, we also need students from different countries with diverse cultural experiences,” Chan says. “We want students with diverse training, background, cultural heritage and skill sets to join forces, first to learn and then to build a better program,” he explains. “The upcoming trend is to mix different groups together, building a strong student body and faculty community, and then these two communities can interact and generate even better results.” CUHK’s EMBA program treats the whole world as one market, and it does not limit students to the Asia Pacific region. “As we are in Hong Kong, we have deep knowledge in the situation here, and lots of experience and good networks. It’s natural for us to develop
something along this line,” Chan says. “But, we also have to explore elsewhere because there are lots of opportunities in other parts of the world.” “As a developing continent, Africa has many golden opportunities. We inspire our students to follow and create opportunities,” he points out. “We simply do not carve up the world into different parts and just focus on certain parts. We treat the whole world as one. We do not have prejudice, and that’s our global perspective.” Meanwhile, corporate social responsibility is one of the program’s pillars. “We do not just focus on profit maximization. We would like to develop for our community top leaders who are not just good at doing business but also have a good sense of social conscience,” Chan stresses. “Hence, our program has elements touching upon social enterprises, such as marketing and strategic development for these enterprises,” he adds. “Some of our students work on projects focusing specifically on social responsibility in some courses. In fact, we have had students who quit their jobs to either set up or join a social enterprise after graduation.”
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Innovation & Leadership in Turbulent Times The Hong Kong Management Association and Cornell University are partnering in a program for senior executives on innovation and leadership. In a conversation with biz.hk, Devin Bigoness, Executive Director for Executive Education at Cornell University’s Samuel Curtis Johnson Graduate School of Management, discusses how it relates to the challenges facing many companies in a highly turbulent business environment
biz.hk: What’s the Senior Executive Innovation & Leadership Program all about? Bigoness: The objective of this program is to help senior leaders transform their companies into innovation engines that can overcome a high degree of uncertainty, complexity and change that this turbulence brings. The most significant problem facing many companies today is about maintaining and expanding profitability under sustained “environmental turbulence.” Successful companies confront these challenges through constructive
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innovation that can be improved through learning from best practices and sharing strategic insights. biz.hk: Is there a correlation between executive education and leadership development? Bigoness: There is a significant connection. The responsibility of a company is to determine what the critical competencies and skills that their leaders need are. Then, in partnership with universities like Cornell, we can help close the gaps between where they are and where they need to be.
western company initiative. Today, companies from all markets and nations compete directly with previously unassailable western multinationals in large part because commerce can be learned, improved and disrupted. This trend has an impact on how companies are organized, their cultures and the development of talent globally and locally.
Michael Hostetler
Within customized executive education here at Cornell Executive Business Education, we work with our clients to understand their strategic goals and their employee capabilities to achieve these strategies, and then design executive education to help further these capabilities. We consider leadership development to be one aspect of executive education and a core area of work for us. We also mix innovation and entrepreneurship development as well as core business acumen as other components of executive education with our global clients. biz.hk: What does high business performance entail in a globalized world? Bigoness: Opinions vary on this question. Usually, executives will talk about growth for share price and profits. These are of course important. But, I think a case can be made for also paying attention to the impact on people and the environment, broadly speaking. From an operational perspective, globalization is becoming more “openplatform.” That is to say: it is no longer a
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biz.hk: What challenges do you see facing business executives? Bigoness: In addition to my previous comments, there are some significant, related challenges: “Environmental” as mentioned earlier; “Social” which relates to the need for wider participation in decision-making across and through companies as well as with external partners; and, finally, “Personal” which involves wisdom and responsiveness to uncertainty and orientation towards lifelong learning as needed to stay competitive. biz.hk: Why is innovation in business so important today? Bigoenss: There is a relationship between innovation and market demands. Sometimes, the innovation radically changes demand and, in other times, market demands drive the innovation. In today’s turbulent world, the most successful global companies need to be able to work on both ends of the equation simultaneously. biz.hk: How does your program work?
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What do participants get to do in two days? Bigoness: The two days cover the two crucial aspects of innovation: one is on internal and external sources of innovation, along with how to recognize it, and the other is on deepening the awareness and responsibility that company leadership holds in creating an innovation culture. During the program, several unique self-assessments are also used to identify innovation gaps in their leadership style and in their company culture, and then they start building plans that can close the gaps. The participants will also learn about benchmarking and how other global companies focus on creating innovation for value in an effort to create new opportunities at their companies. biz.hk: How does the program add value for senior managers? Bigoness: It provides a number of techniques that companies can use to significantly increase innovation. It also provides a structured set of tools to assess both the company and the individual participants in a way that will highlight where they are doing well with regard to innovation and where they can make improvements. Participants will then be able to create a roadmap to implement when they return to their companies. biz.hk: How did the partnership between HKMA and Cornell come about?
Devin Bigoness
Bigoness: The expanded partnership between HKMA and Cornell came about in late 2013 and was initiated by Johnson’s Dean Soumitra Dutta and HKMA’s Executive Director Victor Lee and Deputy Director Miranda Kwok. The goal was to focus on collaborating on market offerings in executive education and leadership for executive value. Cornell’s focus is to design and deliver education offerings that help create and further business impact. As Cornell celebrates the 150th anniversary of its founding, we are pleased to grow our relationship in one of the world’s top centers of business and with the cultural excellence in Hong Kong. HKMA’s mission is consistent with Cornell’s work and mission in the work they are engaged, specifically in the dynamic Hong Kong market. We have been able to collaborate now on two program offerings and look forward to our growing partnership in connecting East and West in addition to furthering the capabilities of Hong Kong executives in an ever more global business system.
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biz.hk: Can you give us a bit of perspective on your background and that of your program? Van Fleet: After finishing my undergraduate degree at the University of Southern California (USC) in 1991 with a minor in Japanese, I moved to Tokyo. I thought I’d be in Japan for a year or two, and then return to the US for graduate school. More than 23 years later, I’m still on this side of the Pacific – after ten years in Japan, a year in Taipei and the rest in Shanghai. USC’s Marshall School of Business and Shanghai Jiao Tong University’s Antai College of Economics and Management launched the Global Executive MBA, or what we call GEMBA, in Shanghai in 2003, with the first class beginning in 2004. I was the first employee in the partnership, and I was also a student in class number one.
How Not to Choose an EMBA Program John D Van Fleet, Assistant Dean of USC Marshall School of Business and Executive Director of the school’s Global Executive MBA in Shanghai, discusses the MBA and EMBA environment in Hong Kong and throughout Asia, with a focus on how prospective students should consider their options
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biz.hk: What’s the rationale behind having you as program director also join as a student? Van Fleet: The partners agreed that having the director as a student in the first class would give us a much stronger understanding of the program from the student perspective, and thereby the ability to develop the program and partnership more effectively. My GEMBA experience changed my life, and I remain grateful to our pioneer leadership for letting me wear two hats from 2004 to 2006. So, after many years in the private sector, I’ve now been working in the business education space in Asia for 11 years. biz.hk: You’ve suggested that we start our discussion on the topic of how not to choose an EMBA program. Why? Van Fleet: Every year, tens of thousands of people in Asia enroll in MBA and EMBA programs. Many of these people make unwise choices and ultimately join programs that are not ideal for them. During my time in the business education sector, I’ve met thousands of people with interest in MBA/EMBA education, and I’ve interviewed somewhere north of 500 candidates.
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I’ve also witnessed many, many decision-making styles and processes, and I think I’ve gained some insight into what works well and what doesn’t. Simply put, asking the wrong questions will yield irrelevant, or worse, information, leading to poor decision making. Perhaps the mostly frequently asked bad question is, “What’s the best program?” A far better question is, “What’s the best program for me?” biz.hk: How should a prospective student go about choosing the best program? Van Fleet: We see in Asia alone a vast variety of options: various languages, local versus foreign degrees, programs affiliated with leading institutions versus those that are not, global versus local student bodies and faculty, variations in curriculum design, etc. When you ask the better question, you are consequently prompted to do some solid work investigating options: sitting in a class, meeting students, faculty and alumni, reviewing the curriculum. Considering all the variables, a program that’s great for one person may not be so great for another, despite such factors as external reputation. And this individually tailored evaluation is essential because the investment for quality business education can become one of the larger ones you’ll ever make. For example, our program tuition is US$100,000 for the class that starts in May 2015, but our students also spend somewhere around 1,200 hours of their time in their studies. The full investment, considering both cash and time, is similar to that required when you buy property. So, asking the wrong question leads to bad decision-making and a lower return on your investment, while asking the right question, and then working to answer it, raises your return on investment – your ROI. biz.hk: Are there any other bad questions? Van Fleet: A common one is, if it’s asked as a stand-alone question, “How much is the tuition?” While it’s of course important to know the cost of any
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option, a far better question is related to what I said about the first question. That better question is, “What’s the ROI?” For some, the least – or most – expensive programs may be best; for others, perhaps not. Again, asking the better question prompts you to consider each option against what your own goals and needs are. You can save money by choosing a less expensive program, but if you can project that a more expensive program will yield substantial incremental income over time, you may be smarter to choose the more expensive program. Of course, you cannot guarantee your future income stream with any program, but you can make some general assumptions. These assumptions include: 1) region-wide roles in multinationals pay more than similar-level singlecountry roles; 2) a program with solid international recognition will be more valuable if you seek career opportunities in other countries; and 3) a program with a well-established alumni network in many countries will deliver more international benefit than one without such a network. biz.hk: Where does your program fit into the universe of choices you’ve outlined? Van Fleet: I mentioned earlier some of the variables in the many business education options available to people in Hong Kong and around the region. Many of these are on linear spectra, such as less versus more expensive and local versus global students and faculty. In terms of cost, our GEMBA program is toward the high end of business education options – there are a few programs in the region that are substantially more expensive, but many that are less expensive. On the local versus global spectrum, we’re strongly global – our students typically hold passports from ten or more countries and regions, and 30 percent must use their passports to attend classes because they fly in from locations outside Shanghai – from Hong Kong, Korea, Japan, Taiwan and elsewhere in Asia, and even from the USA.
Our relatively infrequent class meetings, once every six to eight weeks, make our program a plausible option for those based outside of Shanghai, which in turn supports the student diversity that we’re proud of. Our faculty also supports our global relevance – while all are USC Marshall faculty, which we require because we grant a USC MBA degree, they too hail from a number of countries, and all have extensive international experience. They bring that rich experience and perspective to their encounters with our students. Having said all that, we regularly encounter people who are better off in a more localized program – for those individuals, choosing our program is a poor decision – again, the individual’s goals and needs are paramount.
Professor Baizhu Chen
Professor Tim Campbell
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Guide to Advanced Education 2014 So, for example, if you’re going to launch a product in China, you have HR decisions to make. That is, who will lead and support the business? You also have marketing decisions to make. Those will involve the 4Ps: product, price, placement and promotion. And you have operations decisions to make, including where and how to manufacture, and how to get the product to the customer. Furthermore, you have a money decision to make – how to pay for all of these initiatives. You cannot make these decisions independently of one another and thrive; you must make integrated decisions.
I’m being repetitive here, but it’s always about the individual. The first question to ask to avoid a poor decision is whether or not to take a program at all. I think the best way to answer that question is to ask friends, colleagues and especially mentors for perspective on the potential ROI of MBA/EMBA study as a concept, and only then to start considering individual programs. John D Van Fleet
biz.hk: But why should we care? Some of the most powerful business leaders in the world haven’t even earned bachelor’s degrees. Van Fleet: I couldn’t agree more with the fact that perhaps the choice isn’t about which program to enroll in, but to avoid all of them and save the time and money for other uses. For some people, choosing any program is a mistake.
biz.hk: Why should a business leader consider your program? Van Fleet: Acknowledging my bias, I think one profound reason is our curriculum design – we call it the theme-based, integrated curriculum. Businesses, and business schools, have a common organizational structure, with divisions including marketing, supply chain, HR and finance, among others. But real world business isn’t confined to vertical silos.
biz.hk: So, is your GEMBA curriculum precisely designed to reflect this reality? Van Fleet: That’s correct. Rather than teaching individual academic subjects in a stand-alone manner, we integrate our faculty into ten globally relevant themes, such as the General Manager as Integrator and Strategic Planning for Growth and Profitability. This curriculum design, which fosters a horizontal look at real world business, aligns with reality and gives our students an uncommonly powerful conceptual framework, helping them excel in the global business environment. Our design has an additional, practical advantage. With two faculties leading every five-day session, one in the morning and one in the afternoon, our students gain a refreshing variety of perspectives every day. Another value contributor for our program is the USC alumni network throughout Asia. Our Hong Kong alumni association has a decades-long history of strong community support and contribution, and we have similar clubs in Bangkok, Beijing, Jakarta, Mumbai, Seoul, Shanghai, Singapore, Taipei and Tokyo. USC is perhaps the most committed university in the world to alumni relations and support – as a thirdgeneration graduate of USC, I can attest to that personally.
Australian Graduate School of Management (AGSM) UNSW Business School AGSM MBA Hong Kong Program The AGSM MBA Hong Kong Program, now in its 17th year, is a part-time, face-to-face program specifically designed for regional business executives with leadership ambitions in mind.
Special Features Institute History The University of New South Wales (UNSW) is a founding member of Australia’s Group of Eight (Go8) research universities and is ranked 48th in the 2014 QS World University Rankings. UNSW Scored more five star ratings in the 2014 Good Universities Guide than any other university in Australia The Australian Graduate School of Management (AGSM) is the graduate management studies division of UNSW Business School. Fully accredited by AACSB and EFMD, AGSM’s suite of specialised programs includes: • Master of Business Administration (MBA) ranked as #1 MBA in Australia since 2007 • Master of Business and Technology (MBT) • Graduate Certificate in Change Management (GCCM) • Executive Education
Australian Graduate School of Management (AGSM) UNSW Business School HK$320,000
Program Fee
Contact Details Tel Email
: (852) 2841 2800 : info@agsm.com.hk
www.agsm.edu.au/hk
Senior Executive Innovation and Leadership Program (Hong Kong Program) The Johnson School of Management at Cornell University has been a leading provider of business strategic education since 1953. The program “Senior Executive Innovation and Leadership” aims to nurture top-notch management talents to maintain profitability and growth of the company in today’s turbulent environment, as well as to transform senior managers to leaders with an innovative mindset.
Program
Senior Executive Innovation and
Special Features
Application Closing date Monday, 15 December 2014
• Lessons from Google, Virgin Group and Amazon: Introducing the business strategies adopted by these companies in explaining the role of leadership plays in building an Innovation Engine • Networking opportunity for elites from various industries • 3 Core elements of Learning: Knowledge, Action and Beliefs
Program Fee
Contact Details
Leadership Program (Hong Kong Program) Duration of Study
2 Days (Monday & Tuesday, 5 & 6 January 2015)
Admission Requirement Senior Executives, Professionals and Business Leaders Application methods
Online and Paper Application HKMA Member: HK$32,000 Non-member: HK$ 33,000 Cornell University’s Alumni: HK$ 30,000 an additional 10% discount will be offered if 3 or more participants register together
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Program
Cornell University and The Hong Kong Management Association
Group Discount
12
• 2 stage MBA Program comprising 16 courses (6 core + 10 electives) • Courses delivered by a range of tenured faculty + industry/subject matter expert practitioners • Intensive delivery of course modules • Flexible completion time between 1.5 – 7 years • Four intakes per year • Enrol and pay as you learn
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Contact Tel Fax Email
: Ms Iris Tong : (852) 2774 8594 : (852) 2365 1000 : iristong@hkma.org.hk
www.hkma.org.hk/cornell
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Guide to Advanced Education 2014 China Europe International Business School
The Chinese University of Hong Kong
Global Executive MBA Program (Part-time)
Executive MBA Program Program Features
China Europe International Business School (CEIBS) is the leading international business school in China. The school delivers cutting-edge international management expertise coupled with profound China insights. All our programs are benchmarked against the highest international standards.
Program Global Executive MBA Program (Part-time) Duration of Study 20 months Admission Requirements Bachelor’s degree or above; Minimum 10 years’ work experience & 7 years managerial experience; Proficiency in English. Application Methods Online Application + GMAT/CEIBS Admissions Test + Interview Application Closing Date June 12, 2015 Program Fees 588,000 RMB (96,000 USD)
Contact Details Contact Tel Fax Email
: : : :
Marcel Austin-Martin (86) 21-28905488 (86) 21-28905108 gemba@ceibs.edu
www.ceibs.edu/gemba
Global Executive MBA Program Features
- Ranked Top 10 globally for 3 consecutive years by Financial Times - Transform your ability to more effectively lead yourself, your colleagues and your organisation. - Work with world-class faculty and leading industry experts to develop the skills needed to meet the challenges of an increasingly complex global business environment. - Enhance your managerial effectiveness by quickly applying new skills, knowledge and frameworks to your company. - Develop a greater appreciation of global business opportunities by actively participating in three discovery modules to Japan/Korea, Silicon Valley and Europe.
China Europe International Business School MBA Program (Full-time) MBA Program Features
Program
Full-time MBA Program
Duration of Study
18 months/12 months Admission Requirements Bachelor’s degree or
above;
Minimum 2 years work experience; GMAT/CEIBS
admissions
score; Proficiency in English Application Methods
Online and interview
Application Closing Date March 23, 2015 Program Fees USD62,000 (MBA2016)
14
test
- Ranked in the prestigious Global Top-20 of Best MBA Programs by Financial Times - Access to 30+ top-tier exchange programs worldwide, including Wharton, Kellogg, LBS, and INSEAD - Accomplish your dream, and fund your business ideas with US$100M of available VC capital - Excellent value for money and rapid ROI when compared to European and US schools - Differentiate yourself after graduation with an internationally recognized degree combined with valuable China know-how - Over 70 merit-based scholarships available - Connect to China’s most prestigious business network of 15,000+ alumni
Contact Details Contact Tel Email
Program
Executive MBA Program
Duration of Study
2 Years
Admission Requirements Applicants must • have obtained a Bachelor’s degree or professional qualifications equivalent to a degree, • normally, have at least 7 years of post-qualification business or relevant work experience, including 5 years in a managerial position, and • fulfil the University’s English language proficiency requirement. Application Methods
: MBA Admissions Office : (86) 21-28905555 : admissions@ceibs.edu
Online Application (Online application is open on December 1, 2014)
Application Closing Date March 13, 2015
www.ceibs.edu/mba
Program Fees
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HK$489,600 (Subject to University's final approval)
Our EMBA Program aims to nurture top-notch management talents to meet the needs of Hong Kong, the mainland and the world. Our motto is “to combine tradition with modernity, and to bring together China and the West”. We have established the “six pillars” (Theories, Practices, Internal Network, External Network, Strategic Perspectives and Social Contribution) as our core value to positively influence the business community and society. One of our highlights is our rich range of activities offered, including the monthly “EMBA Forum”, the “Talking to CEOs” and “New Thinking in Management” TV/radio series in which distinguished leaders, academics and government officials are invited to share their experience and insights with our alumni and students. Global Study Trips are organized each year to expose students to different national and business environments so as to develop a global perspective and interact with senior executives in different parts of the world. We partnered with the EMBA Programs of Peking University and the National Taiwan University to conduct the “Greater China EMBA Elite Study Week”. The week was the first of its kind conducted worldwide and strategically provided a platform for the three groups of EMBA students in Greater China to interact and develop friendships. In its latest global survey of 100 EMBA Programs worldwide, the London-based Financial Times ranked our EMBA Program No. 24 in 2014, placing it among the Top 25 in the world again for the 14th consecutive year since the newspaper launched its global EMBA rankings in 2001. Our EMBA program has been ranked the top independent English-instructed program in the Greater China region again this year and has been the highest ranked independent program in Asia for more than 10 years in previous years.
Contact Details Tel Fax Email
: (852) 3943 7642 : (852) 2603 5762 : emba@cuhk.edu.hk
www.cuhk.edu.hk/emba
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Guide to Advanced Education 2014 The Chinese University of Hong Kong
HKU SPACE
Full-time & Part-time MBA Programs
Investment Banking Series (IBseries)
Program Overview
Who Should Attend
The IBseries prepares practitioners for the dynamic Investment Banking world. These programmes are taught by experienced industry practitioners.
Bachelor degree holders or practitioners in relevant industry
• Executive Diploma in Investment Banking (EDIB) • Executive Diploma in Merge and Acquisition (EDMA)
Jan, Jun & Sep (EDIB) Mar, Jun & Nov (EDMA)
Intakes
Key Takeaways • Understand investment banking operations • Awareness of strategic techniques on IPO, private equity and hedge funds • Capable to support merger and acquisition activities • Enhance communication within the complex merger process
Selected modules of the programme have been included in the list of reimbursable courses for Continuing Education Fund (CEF) purpose. For further details, please refer to HKU SPACE’s website or http://www.sfaa.gov.hk/cef/
Contact Details Program
Full-time MBA Program
Duration of Study
12 or 16 months
Admission Requirements
• Bachelor’s degree with honours (not lower than second class lower division or B grade) or equivalent professional qualification • Provide a satisfactory GMAT score • Three years of full-time post-qualification work experience are expected
Application Methods
Online Application
Application Closing Date
Nov 15, 2014; Jan 15, 2015; Mar 31, 2015
Program Fees
HK$489,780 (For 2014 intake)
Program
Part-time MBA Programs
Duration of Study
24 months
Admission Requirements
• Bachelor’s degree with honours (not lower than second class lower division or B grade) or equivalent professional qualification
Tel Email
Institute History With one of the most internationalized and the longest established MBA Programs in Hong Kong, the CUHK Business School has always strived to provide a truly global, ‘East meets West’ learning environment to our students. With our distinctive location in both Hong Kong and across the border in mainland China, CUHK MBA offers you a unique learning experience that combines local insights with global perspectives, teaching that is both practical and theoretical, and access to the largest alumni network in Hong Kong. CUHK MBA possibly is the closest doorstep to the global market.
Application Methods
Online Application
Application Closing Date
Nov 30, 2014; Jan 30, 2015; Mar 15, 2015; Final Deadline to be announced in Mid-Mar
Program Fees
16
HK$317,280 (For 2014 intake)
HKU SPACE Executive Diploma in Enterprise Risk Management (EDERM)
Program Features
Who Should Attend
Enterprise Risk Management (ERM) focuses on balancing risk and opportunities across function area within the organization. This program enables decision makers to associate risks and rewards to achieve company goals and objectives.
Entrepreneur, business owner, professional who need to equip risk management skill set in achieving company goals.
Modules
Apr, Aug & Nov/ Dec
Intakes
• Enterprise Risk Management Framework • Financial and Business Risk Management
Key Takeaways • Identify risk in operation system of an enterprise • Equip essential skills for risk management analysis • Develop business and financial techniques in managing enterprise risk • Integrated concepts of COSO model for internal controls
• Provide a satisfactory GMAT score • At least three years of full-time post-qualification work experience are required
: (852) 2520 4612 : edibma@hkuspace.hku.hk
Contact Details Contact Tel Fax Email
Contact Details
: Lawrence Chan : (852) 3943 7782 : (852) 2603 6289 : cumba@cuhk.edu.hk
Tel Email
: (852) 2867 8318 : ederm@hkuspace.hku.hk
www.cuhk.edu.hk/mba
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Guide to Advanced Education 2014 Institute of Advanced Executive Education, PolyU
HKU SPACE Executive Diploma Series for Non-Financial Executives
Program Overview
Executive Masters in Meaningful Innovation Real Estate Finance
Who Should Attend
The Executive Diploma Series is designed for business executive seeking a competitive edge in dynamic business environment. Participants will explore industry perspectives on fast changing market with practical application strategies.
Non-Finance degree holders or executives who wish to expand their business skill set in Finance, Accounting, Management and Marketing disciplines
• Executive Diploma in Finance and Business Management • Executive Diploma in Finance and Corporate Accounting • Executive Diploma in Finance and Strategic Marketing
Intakes
EMMI Special Features:
• Interdisciplinary Executive Master programme which nourishes innovation, entrepreneurship and multi-dimensional thinking to equip senior executives with the ability to approach open, complex, dynamic and networked problems in a systematic and effective way under a fast-changing business environment. • Incorporating design thinking, design methodologies and perspectives and the core values of “Making Meaning” to allow senior executives to create a greater sense of self-awareness and generate more innovative perspectives. • Combining expertise from different PolyU’s faculties (facilitated by IAEE’s professional team), industry experts and outstanding scholars. • A genuinely innovative professional development experience in generating innovative and meaningful solutions to issues which arisen the context of their organisations.
Feb, May, Aug & Nov
Key Takeaways • • • • •
Financial skills improve decision making Empower business leadership in workplace Build confidence in interpreting financial statements Brand utilization to increase competitive advantage Strategic execution techniques
Contact Details Tel Email
: (852) 2867 8467 : edseries@hkuspace.hku.hk
EMREF Special Features:
Ivey Business School – Asia Western University, Canada
Institute Name
Ivey Executive Education
Program
Special Features Duration of Study Admission Requirements
At Ivey, our unique learning method, immersive environment and world-class faculty all come together to deliver a learning experience unlike any other. Ivey Asia’s Executive Education Programs are designed with relevance to Hong Kong and China context. With consortium programs aimed for high-potential managers to senior executives, application driven cases put executives in the role of decision-maker to tackle real challenges faced by real companies. Executives will leave with new knowledge and ideas that are directly applicable to their organizations with immediate impact. We also design and deliver custom programs that are tailored to meet the challenges that organization faces.
Application Method
Program Fees
Contact Details Contact Tel Fax Email
: : : :
Contact Details
Carol Zheng (852) 2135 2242 (852) 2808 4433 executives@ivey.com.hk
Contact Fax Email
www.ivey.com.hk
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Institute of Advanced Executive Education, PolyU Executive Master in Meaningful Innovation (EMMI) Executive Master in Real Estate Finance (EMREF) 18 months Applicants should - have a first degree in any discipline; and - have industry experience with a minimum of 10 years at senior managerial level. Online application via "eAdmission@PolyU" (www.polyu.edu.hk/admission) HK$330,000 (EMMI) HK$313,500 (EMREF)
- First-ever interdisciplinary Executive Master programme in Hong Kong. - Combining expertise from different PolyU’s faculties, industry experts and outstanding overseas scholars in Real Estate Finance. - Innovative professional development opportunity together with advanced knowledge of Real Estate Finance in Asian and global contexts. - Providing the most advanced knowledge to senior executives on urban economic process, price determination in land and real estate properties, interrelation between real estate property market and investment market, portfolio analysis and choice, as well as prudent risk management with an understanding of the essential legal framework. - Incorporating design thinking and creativity methodologies to keep senior executives ahead of the game.
: Wanze Li, (852) 3400 8483 : Karen Moy, (852) 3400 8480 : (852) 2334 6877 : iaee.enquiry@polyu.edu.hk
www.polyu.edu.hk/iaee
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Guide to Advanced Education 2014
THE AMERICAN CHAMBER OF COMMERCE IN HONG KONG
USC-SJTU USC-SJTU Global EMBA Program in Shanghai Special Features GEMBA’s transformative learning experience, worldwide brand recognition and exceptionally powerful alumni network throughout Asia help students rise quickly in the global business landscape. GEMBA offers the credibility and prestige of USC Marshall, membership in two famed, global alumni associations, world-class and globally engaged faculty, an innovative curriculum and a truly global perspective. The 20-month (part time) program is taught in English and features integrated classes held every six to eight weeks. We have 10 sessions in Shanghai, two in Los Angeles and one in another Asian country. Graduates earn the USC Marshall MBA degree.
Program
USC-SJTU Global EMBA Program in Shanghai
Duration of Study
20 months Admission Requirements A bachelor’s degree, 10 years of full-time working experience including six years of management experience, ability to participate dynamically
in
a
100%
English-language
learning environment, and the understanding and support of your employer and family, as the GEMBA program requires a substantial time commitment.
20
Application Closing Date
31 March 2015
Program Fees
RMB¥620,000/ USD$100,000 for the 2015 intake
GEMBA is the only EMBA program that brings you all of these benefits: • Prestigious MBA degree – the same degree awarded to graduates of USC’s top-ranked EMBA programs in Southern California – plus a certificate from Shanghai Jiao Tong University • Unique curriculum - integrated and theme-based, which brings you a C-suite perspective on real-world business challenges and opportunities • Uncommon diversity - fellow students from throughout Asia and beyond with diverse industry, company and functional backgrounds • Exceptionally global - you learn about global business in three or more dynamic business centers – Shanghai and Los Angeles, plus other locations in Asia • World-leading faculty – who also teach in the University of Southern California’s top-ranked EMBA programs in Southern California • Executive-friendly schedule – 13 mostly five-day sessions, every six to eight weeks, over 20 months
FAST FACTS COMMUNITY AmCham celebrates over 45 years of promoting business and fostering greater trade ties and community service in Hong Kong
ACTIVITIES Members can access more than 400 programs, seminars, and conferences each year featuring top business and government leaders, industry experts and professional facilitators who address timely and relevant business issues. MEMBERS Over 1,700 members (40 different nationalities) from over 800 organizations, including multinational firms, small and medium enterprises, entrepreneurs, and non-profit organizations. COMMITTEES Our members can join and access up to 28 different committees covering industry sectors, professional service sectors, and special segments of the membership.
The American Chamber of Commerce in Hong Kong 1904 Bank of America Tower 12 Harcourt Road, Central, Hong Kong
Contact Details
T: (852) 2530 6900
Contact Tel Email
E: amcham@amcham.org.hk
: Ms. Doris Cao : (86) 21-6293-2707 : uscgemba@sjtu.edu.cn
www.amcham.org.hk
www.gemba.sjtu.edu.cn/en/
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BUSINESS NETWORKING
INFORMATION
VISIBILITY AND CORPORATE EXPOSURE
ADVOCACY
ACCESS