CU iBUS (September 2013), CUHK Business School

CU iBUS

Published by the Undergraduate Office, CUHK Business School

September 2013

A trial run of your career Although the summer vacation ended just one month ago, it’s not too soon to plan for next summer, which for some of you will be your first summer vacation as a university student. There are many meaningful activities and programs that you can apply for through CUHK to profitably utilize this time. Among them, internship is one of the most popular options. It can effectively help you to get a sense of what actual working life is like in a particular industry. This world will be completely different from the classroom environment where your learning usually takes place.

The Inauguration Ceremony Also in This Issue 08 Lightbox - CUHK Beta Gamma Sigma Chapter for Undergraduates &

Honoree Award Presentation Faculty Tea Reception 09 Photo Collection Campaign

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From the Editor Business School

October

16

Global Leader Series Economic Forum: The Rise of the Asian Century August 12 - October 20 CUHK 50th Anniversary Celebratory Event ‘Those Were the Days at CUHK Business School’ Photo Collection Campaign

Message from the editor Dear CU iBUS readers, A recent heated discussion topic in our community is the trend of overdependence of university students on their families. Parents in Hong Kong are blamed for over-protecting their children, leaving them unable to look after themselves once away from home. Another issue is the rising number of cases where teenagers run away from home, or attempt suicide due to their inability to tolerate stress and setbacks in life. We regard this as a problem that must be addressed.

Therefore it is among our top priorities to groom students who are not only knowledgeable and smart at study, but also strong enough to overcome emotional obstacles.

One of the most effective ways to nurture teenagers’ mental capabilities is to expose them to the real world as early as possible.

When I was studying in the UK, I was lucky enough to work for a large corporation as their intern. The job required me to conduct door-todoor surveys in various cities in the UK. I needed to drive all by myself to those cities and knocked on the doors of strangers. It was really a challenge for me at that age. However, with no one to depend on, I had no choice but to be calm, collected and resourceful whenever I got lost. This is exactly what I would recommend to students. In this issue of CU iBUS, we invited three students who took on internship opportunities to learn which profession suits them the most without the burden of long-term commitment. At the same time they learned how to deal with obstacles that are simply inevitable in working life. In this way, they are better prepared to face the obstacles that come up again during their professional working careers.

Contrary to the common belief that university life is the honeymoon period before stepping into working life, it is in fact a crucial bridge providing a soft landing from school life to a professional career. The University always provides a safety net in case you decide to step back, but why not go ahead and prove yourself tougher than the obstacles? Especially to the new students of the entering class of 2013, it is not too early to plan your university life. Take full advantage of the opportunities that are offered here so that you will be better prepared for life after graduation.

Prof. Stella So Editor-in-chief, CU iBUS cu iBUS September 2013 EDITORIAL

STUDENT EDITORIAL TEAM

CONTRIBUTORS

Contact us

Editor-in-chief Prof. Stella So

Lolitta Ho (IBBA Year 3) Jeanette Lai (IBBA Year 2) Tiffany Lam (IBBA Year 2) Jimmy Tsong (IFAA Year 2) Myra Zhang (IBBA Year 2)

Joseph Tong Janice Sue Wong Polly Tang Gillian Fong-McMaster

Address Room 616, Cheng Yu Tung Building, 12 Chak Cheung Street, Shatin, N.T.

Members Carol Ho Isadora Ho Elaine Leung

Telephone 3943 7746 Email bba@cuhk.edu.hk

Cover Story 01

A trial run of your career Although the summer vacation ended just one month ago, it’s not too soon to plan for next summer, which for

some of you will be your first summer vacation as a university student. There are many meaningful activities and programs that you can apply for through CUHK to profitably utilize this time. Among them, internship is one of the most popular options. It can effectively help you to get a sense of what actual working life is like in a particular industry. This world will be completely different from the classroom environment where your learning usually takes place. This month, CU iBUS invited three students who experienced some wonderful internships to share how working as interns has shaped their careers.

Through what means did you get these internship offers?

I applied for all these positions myself. I stayed up-todate with the emails from the UGO and job openings on JIJIS (Joint Institutions Job Information System).

Why did you choose this internship opportunity? How can it benefit your future career?

I hoped to get some work experience as early as I could to gain a feel for real life in the business world. I believe one can never fully understand an industry unless you have worked in it. That’s why I have tried to apply for internships in different industries.

Alex Lau

Integrated BBA, Year 3

You spent nine months of your Year 2 of study for internship, which companies have you worked for?

In previous internships I had worked for two of the Big Four accounting firms, KPMG and PwC, a valuation firm called AVISTA and a market intelligence provider called Mergermarket, part of The Financial Times Group. This summer, I worked at the institutional banking division of National Australia Bank.

The internships have benefitted my career a lot. They helped me to strengthen my CV, but the benefits are more than that. There is a well-known 70/20/10 model for learning and development, which states that on-thejob experience accounts for 70% of your development, relationships and network connections account for 20%, and formal training accounts for just 10%.

In addition to in-depth industry knowledge, the internship also helped me identify my weaknesses. It was not until I started the internship did I realize I was overconfident about my communication skills. There were times then I had to explain some abstract ideas or concepts, and I found it difficult to do so in a clear, simple way. Moreover I found there was still plenty of room for me to improve. Luckily, my internships provided me with loads of opportunities to nourish it.

How can you apply classroom learning to your job?

Though what is required at work is more than what I got from the classroom learning, I would say classroom learning provided me with the foundation such as in basic accounting, finance knowledge. Plus, the group projects in my management and marketing courses further developed my analytical mind and project management skills.

On the other hand, how is working different from studying?

The tasks were all open-ended. Unlike the assignments at school, you do not know if you have completed the tasks correctly or not. At first, this gave me “a sense of insecurity�. I always checked my work repeatedly before submitting it, which made me less efficient, but now, I have adapted to it.

Also, as a student you can skip classes once in a while but a working professional cannot skip working.

Have you experienced any difficulties and how did you overcome it?

As my major is not in accounting, I did not have much training in it. When I was working on a special project, I came across some more advanced accounting concepts such as non-controlling interest and leases in which I had no prior knowledge. I then researched these terms on Google, and read relevant articles to learn the concepts on my own. Being a quick learner is particularly important when it comes to working.

For some really difficult cases, as a last resort I asked my seniors for help and they were patient and willing to teach me.

Any unforgettable moments?

I made some really good friends from different universities. They made my intern life much more fun. I was also so impressed by the way my colleagues treated me. Some of them are in senior positions but they spent time taking care of me and gave me guidance on my career.

I once told my senior I am not too good at technical analysis. The week after, he gave me a book about it as a present. His kind gesture really touched me greatly.

Cover Story 03

Tiffany (right) and her favourite trainer (left)

Tiffany Chiang

Hotel and Tourism Management, Year 3

I will never forget how a guest came up to me, looked me in the eye, and shook his raincoat to wet my costume. I asked why he did that and he answered, “I don’t know.” Maybe he was angry that the heavy rain ruined his trip, or maybe he was simply playing a practical joke on me, but I felt utterly discouraged at that point. I could not understand how people can be so rude and disrespectful. Nonetheless, this incident taught me how to manage my feelings and keep up with the show by recalling the magic moments guests had given me: the kid who ran up to me and gave me a hug and kiss on my cheek after I smiled at her, the appreciation card given by my coordinator praising my positive attitude; and the guests who were simply having a great time at the Park. By remembering how my smile can brighten a guest’s day at the park, I was able to stay positive and continued to provide professional service. I believe this is very important in the hospitality industry.

This summer, I took part in the International College Program (ICP) run by the Walt Disney World at Orlando, Florida. As you may know, Walt Disney World consists of four theme parks, namely the Magic Kingdom, Epcot, Disney’s Hollywood Studios and Disney’s Animal Kingdom. My station was at “the Land” of Epcot, which is an abbreviation for the Experimental Prototype Community of Tomorrow. It is an educational park where you can find duplicates of famous buildings from all around the world, such as Tian Tan of China and the Eiffel Tower of Paris, France.

Attraction cast members operate rides and maintain their normal operation. I was responsible for operating the ‘Living with the Land’ boat ride and running the movie, Circle of Life. I was excited to be able to work at Epcot, but it wasn’t all about fun. Before we could work on our own, we needed to undergo demanding training and assessments to ensure the safety of our fellow cast members and guests. My trainer was very patient, guiding me through all the positions and letting me try them all until I felt completely comfortable working on my own. It took me four days to master all the positions and pass my assessment.

Rain on the parade Things were not all smooth and pleasant at work either.

I met guests angrily complaining about tour groups getting all the fast passes, so they needed to queue two hours for the popular ride Soarin’. I completely understood their feelings, but what was I to do?

Helpless as they were, all I could do was to comfort them, explaining that we cannot discriminate against large tour groups. I gave them suggestions on how to plan their time in the park while giving feedback to my coordinators regarding fastpass distribution, hoping the situation could be improved.

Graduation from ICP 2013

Minnie and Tiffany

Magical Moments Yes, it could be tiring and the questions from guests and their attitude could be annoying, but it was still a pleasure to create “magical moments” for them. For example, I kept Mickey Mouse stickers in my pocket to cheer up crying children, and went to work before my shift started to get fast passes for the popular rides, so I could present them to families with kids as surprises. You will be amazed how you can make one’s day simply by smiling at them, or by saying “Happy Birthday Princess” to kids who come to celebrate their big day. The key is, you have to love your job and be fully engaged in it.

As a hospitality major student with an outgoing personality, Disney has definitely given me a valuable opportunity to learn and broaden my horizon. It was amazing to be able to work with people from other parts of the world and learn about their cultures. I made friends with girls from Mexico, France and the United Kingdom and we even plan to travel to each other’s countries. I believe I have made some life-long friends here. Disney is probably the happiest place to work and it is really an unforgettable experience.

Cover Story

Francis with Terence Au, Marketing Manager and Eddie Wong, another intern at Ming Pao (from left to right)

Francis Cho Integrated BBA, Year 3

In early March, I applied for the “CUHK – Ming Pao Scholarship and Internship Competition”, jointly organized by CUHK Business School and Ming Pao. Our task was to develop a business plan to better promote Ming Pao by using social media. After two rounds of selection (written report submission and proposal presentation), I managed to win and gain this valuable opportunity to work for one of the most renowned newspaper publishers in Hong Kong. Even better, I got the chance to implement my own proposal – to build an instant news reporting group among the secondary school students. This would be done by providing a reporting channel on social media platforms like Facebook and Instagram, thereby enhancing awareness on the instant news reporting trend while fostering collaboration and communication between student reporters from different schools.

To officially work in Ming Pao has been one of my dreams since I joined their Student Reporter Scheme three years ago. It was then that I learned that Ming Pao integrates its Corporate Social Responsibility with its business model in various ways. The Marketing department organizes events like Education Expo and Financial Seminar, among others to strengthen customer relationships and at the same time provide well-rounded and reliable information to the public.

It was my first time participating in organizing a large-scale event for more than 6,000 participants.

This experience taught me that no matter how well everything is planned, things will still go wrong, so it is important to be able to react quickly to emergencies.

Being creative is one thing, but being sensible and providing a customized marketing solution is something that you need to practice in real life. You have to throw away all the rigid business models, listen to instructions and think with an open mind. But like studying, it is always easier if you can find the right person to ask for help.

Although I worked in Ming Pao for only seven weeks, I built strong friendships with my colleagues; I was touched when they threw me a mini farewell party on my last day. My bosses also shared with me their valuable experiences about career planning.

They encouraged me to treasure my time at CUHK, study different courses to better equip myself, and always keep an eye on local and global news. Most importantly they recommended I go on an exchange or overseas internship to broaden my horizons while I am still young. I feel quite blessed to have been able to experience this meaningful internship this summer.

Francis and colleagues at farewelll party

Internship formats include: Full-time: Single semester / Full-year internship / Summer internship Part-time Check out internship postings: http://www3.baf.cuhk.edu.hk/bbadb/

Spotlight 05

The Inauguration Ceremony for Undergraduates & Faculty Tea Reception

Date: September 2, 2013

By Jimmy Tsong and Jeanette Lai, Student Reporters Interview photos by Tiffany Lam, Student Reporter

T

he first day of school at CUHK is always the busiest day of the academic year. This year is no different as buses kept rolling, bringing students to the CUHK Inauguration Ceremony for Undergraduates, where they were officially welcomed by the Vice-Chancellor, Prof. Joseph Sung, and the Deans from each faculty.

Things remained hectic for our Business School students as immediately after the ceremony they were rushed to the Faculty Tea Reception at Cheng Yu Tung Building, home of the Business School. It was the perfect opportunity for the faculty members to say the first official “hello� to these new faces, among which include exchange students visiting from universities from around the world and their buddies from the Business School.

Prof. T.J. Wong, Dean of CUHK Business School giving the opening speech

The ceremony started with the opening speech by our Dean, Prof. T.J. Wong, urging students to take control over their own studies. Explaining to the audience about his liberal arts background, Prof. Wong began his speech illustrating similarities between the liberal arts curriculum and business administration studies.

With both programs, students are free to choose their concentrations after they have enrolled in the program. Another similarity is that both disciplines aim to equip undergraduates with transferrable skills, including problem-solving and analytical skills that can be applied to different practical contexts.

The Dean also encouraged students to fully utilize the resources provided by CUHK and the Business School.

He highlighted that aside from going for exchange study, the campus of CUHK itself is a great platform for local students to explore different cultures from across the world. About 20% of our students come from the mainland and overseas; while only about 80% are Hong Kong locals. He encouraged students to grasp this opportunity to get acquainted with foreign culture. “When you work in a multi-national company or even in a local company, you will deal with clients from all around the world. You can’t choose, and your abilities to work in a cross-cultural setting will help you,” Prof. T.J. Wong noted.

Importance of Social Responsibility Professor Wong believes that a sense of social responsibility is of great importance for business students, and the CUHK Business School strives to offer opportunities for different social responsibility projects, so that students are able to have hands-on experience with social businesses. This coincides with the remarks in a speech by Dr. William Yu, founder and Chief Executive Officer of World Green Organization and guest of honor at this ceremony. With the intriguing topic, “How to survive and win in a world of relentless changes?”, Dr. Yu highlighted the importance of social responsibility when doing business. “Business is expected to be socially accountable and responsible today. More importantly, for more than the past ten years, the reputation of business has been shattered.

What businesses urgently need to do is to rebuild the public’s trust and repair relations with stakeholders,” Dr. Yu explained.

Dr. Yu also highlighted one striking difference between the young adults in his audience versus university students from his generation. “The main activity time of students nowadays starts at 2 in the morning. But during my time, the definition of a “night person” might be a person who is active from 10 o’clock to 1 a.m.” On the other hand he feels that the key to success has not changed that much. “Perseverance and the desire for achieving your own goals are always essential.” He added that having a compelling set of purposes and goals, as well as believing in oneself, allow one to persist and persevere in face of difficulties.

CUHK Business School – Undergraduates Facebook page The highlight of the ceremony was the official launch of CUHK Business School – Undergraduates Facebook page. The page was established in June, so the Inauguration Ceremony was the perfect occasion to officially introduce this interactive platform to everyone in the School, especially the freshmen who are excited and enthusiastic about the forthcoming year as fresh university students. Students were invited to click ‘like’ right on the spot and the number of aggregated ‘likes’ escalated instantly.

Our students had a great time mingling with the faculty members and their newly made friends while grabbing a bite during the refreshment break. The Faculty Tea Reception was the grand launch event kicking off all the wonderful activities that CUHK Business School will be organizing for the students.

f

View all photos here www.facebook.com/CUHKBusinessUG

Official launch of CUHK Business School – Undergraduates Facebook page

Spotlight 07 (Right) Candy

Year 1, Integrated BBA

“In these four years of university life, I hope I get to know more people from different backgrounds.

I also hope to find my future career direction and to learn more through joining different committees (seung jong).”

Sonia Wong (Middle)

Alex

(Left)

Exchange student from Germany

“It is really inspiring to be here and it is interesting to see how the cultures interact with each other.

I especially like the global atmosphere here.”

MC for the ceremony

“I am delighted to see so many exchange students here. It shows that there is more international support to our university.

Our school is getting more globalized.”

Pauline, Anna and Coralie (From left to right)

Exchange students from France

“The campus here is totally different from ours in France. We used to study in a building in a small town back in our country.

We hope to get to know more about the culture, food and language here in Hong Kong.”

(Right)

Yen

Exchange student from Canada

“Hong Kong is a world city as it connects to different part of the world. I like the campus a lot but I did not expect it to be on the hill when I looked at the map. I hope to join more business school events during my exchange.”

Lily

Freshman from Beijing

“I found Hong Kong a very international city and decided to study at the Chinese University of Hong Kong because of the beautiful campus. I want to take up internship opportunities and go on exchange during my study in Hong Kong.”

Lightbox

September

26

CUHK Beta Gamma Sigma Chapter Honoree Award Presentation

Prof. T.J. Wong, Dean of CUHK Business School and Mr. James Wang, honoree of CUHK Beta Gamma Sigma Chapter 2013

Mr. Wang Jun Yan (James) is the CUHK Beta

Gamma Sigma Chapter Honoree of 2013. With over 18 years of securities and investment experience, he has been involved in investment banking, capital markets, direct investments and fund management in China since the early 1990s. Mr. Wang is currently the Chairman of China Alpha Investment Management Limited, the Managing Director and Chief Investment Officer of CITIC Securities International Investment Management (HK) Limited and an Adjunct Professor in the Department of Finance of CUHK Business School.

Advertisement 09

IBCE students win YDC E Challenge

Career Development Workshops

Date: July, 2013

By Wong Hiu Wing, Janice Sue

Date: September, 2013

A team of four IBCE students won the 2nd runner up of the YDC E Challenge with the business start-up plan "Believeat Norriture", outcompeting more than 150 other teams.

Chan Yee Lin, Elaine, Choi Cheuk Lun, Geoffrey, He Heung Ting, Fion (all IBCE, Class of 2013) and Wong Hiu Wing, Janice Sue (IBCE, Year 3) worked together on their business venture plan which featured molecular cuisine. The team consistently outperformed its competitors throughout different stages of the competition from March 2013 to July 2013. After submitting a 1000-word executive summary, fifty teams were selected for the semi-final round. Only ten teams qualified to proceed to the final round based on the quality of their five-page business plan and one minute visual presentation. In the final round, the top ten teams prepared a full thirty-page business plan, presenting their proposal to a judging panel composed of elite venture capitalists, successful entrepreneurs and industry professions on July 20, 2013.

Sponsored since 2000 by the Young Entrepreneur Development Council, YDC E Challenge is an annual business plan competition open to all full time tertiary-level students in Hong Kong. Topical workshops, mentorship programs and networking sessions are organized to bolster various skills and to foster the entrepreneurial spirit of these young adults.

As school resumes, a series of workshops on career development were organized for our students to help them better prepare to launch their professional careers after graduation. On September 7, 2013, we invited consultants from the Boston Consulting Group (BCG) to speak to our students about management consulting through an interactive session. Ten BCG consultants, eight of whom are CUHK alumni, spoke to the students about the job responsibilities and career path of a consultant and shared the day to day routines working in a management consulting firm.

On September 27, 2013, we also invited ACCA and their members to talk to our students regarding career opportunities in the accounting field. Ms. Eunice Chu, Finance Director of Revlon HK and Mr. Horace Ma, Chief Financial Officer of S. Culture shared their career journey from Big 4 accounting firms to their position as in-house accountants.

Another two sessions of sharing focusing on job hunting and CV writing were held on September 21st and 23rd, respectively. On the 21st, Mr. Baldwin Hui and Mr. Rex Ho, both recent BBA graduates from the Class of 2013 shared how university students should start preparing for their career during their studies and how internship opportunities helped them build their career path. In the session on the 23rd, Ms. Susanna Wong, director at OC&C Strategy Consultants and head of the overall recruitment initiative in the Greater China Office, shared her tips on writing effective resumes from an employer’s perspective.

Boston Consulting Group (BCG) delivered an interactive session on September 7.

Newsroom 11

GBS Orientation Trip to Japan Date: August 27-31, 2013

By Polly Tang

This summer, twenty GBS newcomers had their first taste of university life through a studentled orientation trip to Tokyo, Japan. Having the opportunity to visit various institutions in a foreign country, not only did they get to experience a completely different culture, they also got a glimpse of one specific international business environment.

IBCE Batch 4 Orientation Trip to Chengdu Date: August 21-25, 2013

By Fong-McMaster, Gillian

The tour of the Waseda University campus kicked off this trip. Students from Waseda’s School of Commerce gave our students a most friendly welcome, organizing a lunch reception and taking them around the main teaching buildings. A discussion and presentation also took place where student views and expertise on a range of topics including school life, education system and career path were shared.

To provide students with opportunities to experience business in China and enhance the bonding among IBCE students, a group of thirty seven Year 1 IBCE students from CUHK and the University of South Carolina (USC) set off to Chengdu for an Orientation Trip on August 21.

To better understand the ways of China business, our students visited local Chengdu companies including the Blue Sword Group, Sichuan International Agricultural Company, and BOE Technology Group Co., Ltd. They learned about these companies, their current business strategies and goals for the future.

In addition the students also got a glimpse of the cultural aspects of Chengdu. Visits to the Wuhou Shrine and Chengdu Panda Base opened their eyes to this city’s heritage. A highlight of the trip was the mask changing show which showcased the color and art of the city.

Dah Chong Hong (Japan) Limited, Burson Marsteller and the Hong Kong Economic and Trade Office in Tokyo also provided our students valuable learning opportunities.

One topic discussed is the culture shock resulting from the rigid mentality of the Japanese. Our students actively raised questions which were thoroughly answered by This four-day trip offered a first taste of the multiplicity different firms’ representatives. They also received a great of cultures and diversity offered by the program, and deal of invaluable life advice from the professionals. provided the students a perfect environment to get to know each other better.

As the trip was student-oriented, all of our students were actively engaged. Just achieving the strong bonding among these new students made it a fruitful trip.