CU iBUS (December 2013), CUHK Business School

CU iBUS

Published by the Undergraduate Office, CUHK Business School

December 2013

2013 Review As we celebrate the arrival of 2014, the memories of 2013 are not too far behind us. There are problems still to be solved and events that will stay in our hearts forever. In this issue of CU iBUS, we will review the important happenings that took place this past year and gather students’ view on their most significant news headlines.

Faculty Spotlight Mr. Lai Hon Weng, John Spotlight Citi-HKCSS Community Intern Program

Also in This Issue 08 Spotlight - Celebrating the New Year Korean Style 10 Lightbox - 2014 Calendar 12 Newsroom Click to view the full issue

From the Editor Abbreviation INDEX

Message from the editor

UGO Undergraduate Office

Happy New Year, dear CU iBUS readers. I hope that all of you were happy with what you achieved in 2013 and will find new goals to pursue in 2014.

IBBA Integrated BBA ABS Asian Business Studies GBS Global Business Studies IBCE International Business and Chinese Enterprise PACC Professional Accountancy Program HTMG Hotel and Tourism Management Program IFAA Insurance, Financial and Actuarial Analysis Program QFIN Quantitative Finance Program QFRM Interdisciplinary Major Program in Quantitative Finance and Risk Management Science GLEF Interdisciplinary Major Program in Global Economics and Finance

As we celebrated the 50th anniversary of CUHK and the Business School in 2013, we have seen many successful business leaders and scholars generously sharing their wisdom in a series of lectures here at the University. We took a small step towards our long-term goal of leveraging the knowledge beyond the walls of CUHK by opening these lectures to the public as well as our alumni and students. In the coming year we will continue to find more ways to reach out to the broader community.

With the New Year, we would also like to announce some new features in CU iBUS. Back in late October, we conducted a reader survey to gather your opinions towards this publication. Thanks to your enthusiastic participation, we are able to understand better what you want in this newsletter and how you want it. Beginning with the next issue, CU iBUS will be published bi-monthly. As a token of thanks, six lucky survey participants will receive a CUHK Business School 4GB USB drive. Congratulations to the following students: 1155009146 1155002860 1155015285 1009617934 1155035040 1155030940 We will be in contact with you shortly about how to claim your prize.

And to all of you who submitted a comment, thanks again for your participation and continued support.

Prof. Stella So Editor-in-chief, CU iBUS

cu iBUS December 2013 EDITORIAL

STUDENT EDITORIAL TEAM

Editor-in-chief Prof. Stella So

Brian Kim (Year 3) Cynthia Pin (Year 1) Jimmy Tsong (Year 2) Shafee Mohammed (Year 1) Myra Zhang (Year 2) Grace Chee (Year 3) Lolitta Ho (Year 3) Jeanette Lai (Year 2) Kama Wong (Year 2) Kimmy Wong (Year 1) Morven Mo (Year 2)

Members Carol Ho Isadora Ho Elaine Leung

Contact us Eunice Jung (Year 4) Tiffany Lam (Year 2) Victor Tai (Year 2) Mandy Chiang (Year 2) Josie Lau (Year 2) CONTRIBUTORS Tripp Pryor Nicola Lok Sunny Chung

Address Room 616, Cheng Yu Tung Building, 12 Chak Cheung Street, Shatin, N.T. Telephone 3943 7746 Email bba@cuhk.edu.hk

Cover Story 01

2013 Review

By Jimmy Tsong, Student Reporter

As we celebrate the arrival of 2014, the memories of 2013 are not too far behind us. There are problems still

to be solved and events that will stay in our hearts forever. In this issue of CU iBUS, we will review the important happenings that took place this past year and gather students’ view on their most significant news headlines.

Limit on infant formula for outbound travelers (March) In order to control cross-border trading of powdered infant formula, amended import and export regulations were imposed restricting travelers departing Hong Kong from carrying more than two cans, or an equivalent of 1.8 kg, of milk powder. Those infringing the new regulations could be fined up to HK$2 million and face seven years in jail.

Photo courtesy: Financial Post

Dock workers go on strike for better working conditions and pay (March)

Photo courtesy: Wikipedia

The Union of Hong Kong Dockers went on strike due to the unfair pay and poor working conditions at Kwai Tsing Container Terminal. It was the longest industrial action on record in Hong Kong, lasting forty days.

Control over use of Personal Data (Privacy) tightened in Hong Kong (April) The amendment of the Personal Data Privacy Ordinance in relation to direct marketing aims to strengthen protection over individual personal data.

It allows individuals to confirm whether their personal data is to be held by marketers, to obtain a copy of any such data from them, and to have personal information corrected in the marketing company’s database.

Photo courtesy: HKTDC

Former CIA contractor Edward Snowden revealed classified documents (May)

Photo courtesy: The Guardian

The former CIA contractor, Edward Snowden, revealed numerous classified documents to the press about the mass surveillance program of the US federal government on its citizens. Being recognized as a hero by some while a traitor by the American government, he left the US and travelled to Hong Kong before finally being granted asylum by the Russian government.

Completion of Kai Tak Cruise Terminal (June) To promote the cruise liner industry, the Kai Tak Cruise Terminal opened at the site of the former Kai Tak Airport, welcoming its first passengers on June 13, 2013.

Photo courtesy: Discover Hong Kong

Amendments to the Trade Descriptions Ordinance (July)

Photo courtesy: South China Morning Post

The Trade Descriptions Ordinance was amended in order to prohibit unfair trade practices in consumer transactions. It ensures that advertised claims (e.g. product benefits or features) were supported by evidence.

Long queue for kindergarten admission application form (October) Kindergartens in Hong Kong are under great pressure due to the influx of Hong Kong-born mainland children. Long queues are seen where parents line up overnight just to obtain an enrollment application form for their children.

Photo courtesy: South China Morning Post

Cover Story 03

Free-TV crisis in Hong Kong (October) Two new free TV licenses were issued by the HK Government to Hong Kong Television of PCCW and Fantastic Television of i-Cable Communications, while Ricky Wong Wai-kay’s Hong Kong Television Network Limited’s application was rejected despite being widely recognized as the most qualified applicant among the three.

Photo courtesy: South China Morning Post

Transformer 4: Age of Extinction began filming in Hong Kong (October)

Photo courtesy: Reuters

The fourth installment of the American blockbuster Transformer movies was filmed in Hong Kong. During filming, the crew was assaulted by suspected triad gang members who demanded “protection money”.

Typhoon Haiyan devastated the Philippines (November) Being the deadliest typhoon on record to hit the Philippines, Typhoon Haiyan devastated the island country in early November 2013. Haiyan inflicted over five thousand casualties.

Name: Alan Mak (IFAA Year 2) Choice: Free-TV crisis in Hong Kong Reason: The decision of turning down Wong

Wai-kay’s proposal was not grounded.

Name: May Lee (IBBA Year 2) Choice: Free-TV crisis in Hong Kong Reason: The government refused to use a transparent

approach to explain the licensing procedures

to the public. It heightened the tension

between the government and local citizens.

Name: Sam Pui (PACC Year 2) Choice: Former CIA contractor Edward Snowden

revealed classified documents Reason: This exposed the US government as a

hypocrite who claimed to recognize the

importance of human values but actively

involved in infringing human privacy.

Photo courtesy: KUHF News for Houston

Facebook Page Polling results – most significant event of 2013 79%

13%

4%

Free-TV crisis in Hong Kong Former CIA contractor Edward Snowden revealed classified documents Control over use of Personal Data (Privacy) tightened in Hong Kong

Selected by fans of CUHK Business School – Undergraduates

Cover Story

2013 Major Events in CUHK Business School 2013 was a very significant year for CUHK Business School as we witnessed the 50th anniversary of the School.

To mark this milestone, the School organized a series of events providing great opportunities for alumni and students to gather together. This past year has also seen a few “firsts” at the CUHK Business School. Some of these events include the following:

CUHK Business School joins forces with IBM to offer Global Business Consulting course (January)

Launch of Undergraduates Facebook page (September)

Have you “liked” the Business School Undergraduates Facebook page yet? The Facebook page was Co-organized by the Business School and IBM China/ officially launched at the Inauguration Ceremony Hong Kong Limited, the brand new four month “IBM Global Business Services – Business Consulting Course” for Undergraduates on September 2, 2013. Like the page now and start receiving the newsfeed of events aims to equip students with knowledge on various related to the Business School! topics relevant to business consulting services.

Business Elite Camp (July) Offering secondary school students some glimpses of university life, the first ever CUHK Business Elite Camp was successfully launched in July. Camp activities comprised seminars, interview and etiquette workshops, and a mock case competition.

“Those Were the Days at CUHK Business School” photo collection campaign (August)

To celebrate the 50th Anniversary of CUHK Business School, the Alumni Office organized the photo collection campaign. Out of all the photos submitted, the winner of the public category awards for ‘Most Memorable Entries’ went to Ms. Lau Hiu Wing. Taken while on a study trip organized by the Cross Boundary Leadership Program to Cambodia, her photo depicted the energy of business students even while traveling.

Hurray!

https://www.facebook.com/CUHKBusinessUG

Global Leader Series Economic Forum (October) Titled The Rise of the Asian Century, the forum featured four economic heavyweights: Nobel Laureate Prof.

Robert C. Merton, Prof. Liu Ming Kang, Prof. Lawrence Lau, and Prof. Fred Hu as speakers. They provided their unique insights on the opportunities and challenges ahead for Asian economic development.

CUHK 50th Anniversary Banquet (December)

Over five thousands students, alumni, staff and friends of CUHK gathered for CUHK’s 50th Anniversary Banquet held in the Hong Kong Convention and Exhibition Centre on December 8. This provided an unusual opportunity for all of them to reunite and revisit memories of their tears and joys while at CUHK.

Faculty Spotlight 05

Mr. Lai Hon Weng, John Director, Global Business Programs (GBS and IBCE)

| Serving CUHK since 2007 | Affiliated to United College | Birthday: December 29

About your profession Why did you choose management as your profession?

Management is not just a profession but something that ALL students need, not only managers. Great management starts with self-management. We wanted to inspire students to internalize this concept before they proceed to manage others in the workplace.

What made you decide to become a teacher?

It just happened that one day I had this dream of becoming an unconventional teacher even before starting my undergraduate studies. This idea was further reinforced by my professor / mentor while at University. She was a great teacher but had to retire early due to disability. It’s the best career I could have chosen and I have never looked back.

Generally speaking, are there any common character traits for a successful leader in management?

Able to articulate their vision and inspire followers; have courage, energy; learning to fail forward; generosity in helping others to achieve goals and giving back to society.

About CUHK What is your favorite corner at CUHK? The Garden Café! It’s really a great spot to meet friends and students over coffee or lunch.

Can you share with us an unforgettable moment during your teaching at CUHK? Wow, that’s difficult as each day is special, but it would be any e-mails I receive from grads or current students where they define success in their own way that is not all about getting money, power, and fame – instead, doing what they really love and believe in. This may sound very Steve Jobs-like but this is something I always talk about in class as well.

About yourself Could you share with us one of your most emotional moments?

My colleagues throwing a huge farewell party for me while I still worked in industry. It was totally unexpected...... I seldom weep but that was one moment where I did!

If you could meet with your idol, dead or alive, who would it be?

Peter Drucker, over a casual lunch.

Any book you wish to recommend to the students?

I would recommend The 7 Habits of Highly Effective People by Stephen R. Covey for first year business school students to develop good habits to aid personal and professional development.

Is there anything you are good at that would surprise us?

Um, I can actually cook – Asian, French, Italian. In fact, I was featured in newspaper food column some time ago as judge and food critic.

Citi-HKCSS Community Intern Program T

he Citi-HKCSS Community Intern Program is an annual program that aims to nurture the sense of Corporate Social Responsibility in Hong Kong business students through three-month internships at NGOs. This summer, Chung Pok Man, Sunny (IFAA, Year 2) joined this program and gained a new perspective on society’s problems. His devotion to this important cause earned him and his teammate the Award for Excellence, awarded to only three teams that made outstanding contributions. We asked Sunny to reflect on his internship experiences and he shares his thoughts below.

m?

u to join this progra

What motivated yo

Chung Pok Man, Sunny (IFAA, Year 2)

Did anything that you lea rned shock or touch you?

Since I can foresee that after graduation there is a high chance for me to be involved in the commercial Before the internship began, we had to join an field, I want to try something extraordinary at this stage. I realized that the Citi-HKCSS Community Intern induction program. It provided me rare opportunities to understand the problems and needs of the Program is a good opportunity. community. First, I got a chance to understand the housing problem in Hong Kong during a rooftop I have an impression that society generally holds housing (天台屋) home visit. The elderly gentleman a negative view towards business, thinking that it who resides there fulfilled all criteria to receive means selfishness and money-mindedness. Yet from Comprehensive Social Security Assistance (CSSA), my point of view, the tools of business can be used but he did not apply for it. “I have more than I need to support society, maximizing returns with limited resources. Business is an industry of managing assets and the CSSA is meant for people who truly need it. Clearly, I do not.” His analysis of his own situation and using limited resources to bring the greatest touched me a lot. It reminds me how fortunate I am return. This should be the key to operating a NGO, and that we must never ever take things for granted. many of which have very limited resources. My goal The society is full of complaints, but most are by those is to integrate my business knowledge with the who have more than they need. traditional values of NGOs. Secondly, I realized the power of social enterprise by visiting the Gingko House (銀杏館), one such social enterprise targeting the elderly. They employ senior citizens as waiters and waitresses. These elderly gain both monetary and mental satisfaction because they are no longer a burden to society or to their families.

They prove their value through productive work rather than through pity from others. This is a perfect example of how business can help alleviate social problems.

Spotlight 07

What were your duties at the NGO you worked for?

I worked for the Tai Po Baptist Church and my duties involved promotion on the internet such as setting up a Facebook fan page and researching how to improve the organization’s website. Also, I helped to organize the Flag Selling Day during my internship.

The organization is small scale, therefore, I had many chances to do a wide range of duties.

Most importantly, the working style of social workers impressed me a lot. They did a lot of reflection.

After each project, case or event, they organized a meeting to discuss the logistical issues and tried to modify the plan for the future. Reflection is the key to improvement, whether it is for individuals or organizations.

What made and succeed your team stand out fr o in winning the Award o m the others f Excellence ?

We really cannot be sure of the exact reasons, but there are two principles that I’d stick to when doing an internship.

Firstly, be active but not overactive. During my internship, my seniors offered me a high degree of freedom. They always asked me to set the deadline and work out the specific working procedures. We could always ask when things were ambiguous but since people were all busy with their work, we tried not to ask too much. This made observation a very good “teacher”. Companies employ interns to work but not to learn. Therefore, no one would put educating and nurturing the intern on the top of their list. I strongly believe, most learning comes from active observation. This kept me from making mistakes.

Secondly, be confident but not overly so. I remember when I presented my ideas to my supervisor, he told me, “Your idea is good, but your tone makes me think that you are unsure about your suggestion. If you are not confident, how can others trust your idea?” This also made me question why I behaved so hesitantly despite reassessing my ideas over and over again before presenting. I made a note to myself to always strike a balance between being confident and overconfident.

Celebrating the New Year

Korean style

By Brian Dong Joon Kim, Student Reporter

Once in a year, the whole world gathers together

with their family, friends and loved ones in counting down to welcome the New Year. In some cases, this is the only time during the year that the whole family gathers together in one place due to the busy city lifestyle. As the fireworks brighten up the skies, everyone wishes for a prosperous new year. But in our family, we have one more round of celebrations. Let me share how my one hundred percent Korean family celebrates our 설날 (Seollal), which literally means, an unfamiliar day.

Clothing In Korean culture, on the morning of Seollal everyone should dress up in 한복 (hanbok/韓服), the colorful Korean traditional clothing. However as time went by, more and more families skip this part of the custom to wear brand new clothes instead, symbolizing a clean spirit and hope for an evil-less year. Like new year in any other culture, Seollal is a time to say goodbye to the past and hope for a happy new year with a clean body and spirit.

Seollal is the first day of the lunar calendar year - the same day as Chinese New Year. The three-day holiday of Seollal, including the days before and after, is considered one of the most important traditional holidays and has more significance than the ordinary January 1. All the family members from parents to grandparents and cousins gather in one place on the eve of Seollal and greet the New Year together.

Photo courtesy: Korean Culture and Information Service, KOCIS

Photo courtesy: Korean Culture and Information Service, KOCIS

Photo courtesy: Korean Culture and Information Service, KOCIS

Spotlight 09

Photo courtesy: Korean Culture and Information Service, KOCIS

Food

Photo courtesy: Korean Culture and Information Service, KOCIS

Rituals

Like the Chinese niangao (年糕), we have a special dish for the New Year called 떡국 (Tteokguk). It can be loosely translated as “rice cake soup”. Bowls of this delightful soup, containing sliced rice Photo courtesy: Wikipedia cakes, eggs, meat and a spoonful of seaweed, are placed around a large dining table in the morning. Everyone sits in front of a bowl to have the first meal of the year. This tteokguk has a greater meaning than just the delicious soup that it is.

It is believed to grant one more year of life and good luck to follow. Once you finish your tteokguk, you are a year older. Some families also perform 차례 (charye/ 茶禮), a ritual bow to ancestors that the family wishes to remember at this time of the year.

The most important part of Seollal is the tradition of 새배 (sebae/歲拜), which means New Year’s bow. Children wish a happy new year to elders such as grandparents, parents, uncles, and aunts by performing a deep traditional bow while saying “새 해 복 많이 받으세요!” (Saehae bok mani badeuseyo!), which is Happy New Year in English. In return, the elders give out 덕담 (deokdam/德談), or words of wisdom along with 새뱃돈 (sebetdon), or New Year’s money.

Through sharing and wishing each other happy new year, the year can begin with a blessed Photo courtesy: Rory and Jamie feeling of hope and joy.

Just like Thanksgiving and Christmas, this is also a time to show your gratitude to the people around you. In Korea, it is a custom to send gifts such as a box of fruit, rice cakes or beef to close relatives, business partners or seniors to create or maintain a good relationship with them. Seollal is usually the busiest time for department stores and delivery services for this reason.

You can also wish a big Korean happy new year to your friends without having to send rice cakes to them. Just call them up, or text them saying “새해 복 많이 받으세요!” (Saehae bok mani badeuseyo!). Maybe they will give you some words of wisdom and 세뱃돈 (sebetdon)!

새해 복 많이 받으세요!

IBCE Macau Field Trip 1 Date: November 13, 2013

By Tripp Pryor (IBCE, Year 4)

Social Venture Competition Asia (SVCA) Date: December 6, 2013

A day trip to Macau was organized for IBCE students to learn firsthand how massive foreign investment is shaping the special administrative region’s economy.

The students toured the City of Dreams complex and attended a presentation from Mr. Alidad Tash, Senior VP of Gaming Operations and Strategy for Melco Crown Entertainment.

Lensational, formed by four GBS students, shined once more in international competition. Founded by Bonnie Chiu (Class of 2013), Peggy Tse (Year 4) and Michael Ng (Year 3), Lensational was awarded third place in the Social Venture Competition Asia, held in Seoul on December 6, 2013.

At the Macau Trade and Investment Promotion Institute, the students learned what factors makes Macau so appealing to international investors. From entertainment to retail, real estate, and fine dining, Macau has burst onto the world stage with impressive development.

The Social Venture Competition Asia (SVCA) is an annual social venture business plan competition for early stage businesses with a social mission. A total of sixteen teams competed this year, at the end of which Lensational won 2.5 million Korean Won (around HK$18,000) for their third place showing.

GBS and IBCE Zhuhai Team Effectiveness Workshop 2, 3 Date: November 16-17, 2013

By Nicola Lok (IBCE, Year 1)

In today’s business environment, management soft skills are of critical importance. In order to help GBS and IBCE students further develop these skills and apply relevant knowledge and attitude to the workplace, a team effectiveness workshop was conducted on November 16 and 17 in Zhuhai.

The workshop took an experiential approach in fostering team spirit, leadership, communication and problem solving skills. For each team building activity, students were given three attempts so that they could continuously revise their gaming strategies to perfect their performance. Moreover, the reflection and sharing sessions after each activity allowed students to understand the other teams’ strategies, problems encountered and respective solutions.

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Highlights of the trip included kayaking and rowing activities. These created the opportunity to forge a closer bond between the GBS and IBCE students.

These activities highlighted the power of having a “can-do” attitude despite the anxiety associated with unfamiliarity. The sense of achievement gained from completing all the tasks and the satisfaction of pushing the limits were the students’ greatest takeaways from this trip.

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Newsroom 13

HTMG student wins chance to learn from Chef Alain Ducasse directly 4, 5 Date: November 4, 2013

CUHK Alumni Homecoming: Business School Open House 6 Date: December 7, 2013

By Brian Dong Joon Kim, Student Reporter

“SPOON 10th Anniversary Open Culinary Competition”, a competition for chefs in training, was organized by InterContinental Hong Kong and the two star Michelin restaurant SPOON by Alain Ducasse. In this competition student chefs were required to design a dish and present it to Michelin three star chef Mr. Alain Ducasse and Philippe Duc, SPOON’s executive chef.

Fermi Fang (HTMG, Year 3) shone in the competition with his dish “Late Autumn”. Inspired by the colorful nature of Fall, the dish consisted of three layers with celery mixed with pomelo honey as the base, topped by a strong savory mix of pumpkin and hairy crab meat highlighting the topping of this dish, seared scallop.

The dish earned Fermi a place with nine other student chefs to share “A Day with Alain Ducasse” on November 22 to learn from this acclaimed chef.

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To celebrate its golden jubilee this year, the CUHK Business School organized an Open House event during this CUHK Alumni Homecoming Day, welcoming all business alumni home to Cheng Yu Tung Building.

The highlight of the day was the presentation of the prize for the photo collection campaign named “Those Were the Days at CUHK Business School.” Various Expressing his gratitude for this valuable opportunity, memorable photographs from the 1960s to the present Fermi noted “what CUHK has given me is not direct were exhibited. The displayed photographs not only hands on training, but rather the opportunity and highlighted the history of the School, they also hold freedom to deeply understand each theory behind [the] sentimental reminiscences for many of the alumni. culinary arts and in return, allowing me [to] learn the hard skills easily”.

After presenting the prize for the photo collection campaign, the student ambassadors escorted alumni on a tour of the Cheng Yu Tung Building to show them the icons of the building, such as the Financial Trading Laboratory, the Demonstration Kitchen, the Wine Laboratory, and the Hyatt Learning Centre.

The Open House was an unforgettable event for our alumni, faculty members and students.

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Outreach efforts— admission talks Date

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School / Event

Speaker

Dec 11 Career Master Day

Dr. Andy Wong Assistant Dean (Undergraduate Studies)

Dec 12 Visit by mainland key middle schools

Prof. Zhang Meng Associate Professor (Department of Marketing)

Dec 20 Visit of Yuet Wah College (Macau)

Dr. Andy Wong Assistant Dean (Undergraduate Studies)

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Happy New Year from Undergraduate Office, CUHK Business School