JAN
FEB Inside MBA Inside MBA Corporate social responsibility Entrepreneurship - Top 10 firms trending factors - Chinese invest in thebusiness world’s school applicants consider ‘start-up’ nation – Israel engages staffgets and“street makes - A- Agency ‘book smart’ model an impact CSR smart” as anwith entrepreneur - 11 reasonsand whyfocusing you didn’t - Identifying on make the cut paves chances to excel strengths
www.educationpost.com.hk/im-feb15
www.educationpost.com.hk/im-jan15
(Advertisement)
CONTENTS Cover story
4
Rise of ‘technopreneurs’ heralds new era in start-up culture JOHN CREMER
Dean’s desk
10
Making an impacting through entrepreneurship SEAN FERGUSON
Insights
12
Going to Israel CHRIS DAVIS
First person
16
Architect turned financier makes waves with business VICKIE CHAN
Inside MBA is published by Education Post, South China Morning Post Publishers Ltd. All rights reserved. ISBN: 978-962-8148-33-2
Brightest mind
20
Witman Hung: Qianhai spearheads China’s new wave of business reform VICKIE CHAN
Star blogger
22
The making of a female entrepreneur JENNIFER CHENG
Out of class
26
Course helps MBA jobhunters play to their strengths JOHN CREMER
MBA helpdesk
30
Admission interview tips WILFRED LEUNG
4
Cover story
Rise of ‘technopreneurs’ heralds new era in start-up culture Text: John Cremer Photo: AFP
Entrepreneurship has been playing a crucial role not only in business schools but global economies, including Hong Kong
The popular image of cash-strapped young entrepreneurs working on some industry-changing concept in the back of a suburban garage has become part of contemporary folklore, but these days there is little sign of that happening in Hong Kong. This is because, in the last few years, the local ecosystem for encouraging, funding and supporting start-ups has taken on a whole new level of sophistication. In fact, it can be said that universities, potential investors and various government departments are almost falling over themselves to offer anyone with a viable business idea the combination of advice, instruction, finance, introductions and office space to transform their project from dream to reality.
Inside MBA
6
Cover story
Alwin Wong, PolyU
“In the last few years, there has been a change in culture and mindset,” says Alwin Wong, director of the Institute for Entrepreneurship at The Hong Kong Polytechnic University (PolyU). “Hong Kong is now seen as one of the favoured places in the region for start-ups. There have been some notable success stories for young people taking the entrepreneurial pathway; and the private sector and big corporates are also jumping on the bandwagon.” Wong notes that in a knowledge-based economy, universities must do more than simply “crank out” graduates ready to follow a traditional professional path and move up the management ranks. It is also essential to spark innovation and get students exploring new ways to apply technology on the campus and in the community. The logical next step is to support these ideas through to fruition, with the aim of creating self-sustaining new businesses or tapping into some other vein of industry collaboration. To this end, PolyU has been actively encouraging students and alumni with a micro-fund scheme offering generous grants and experiential learning to supplement conventional classroom teaching and facilitate knowledge transfer. Start-up proposals are grouped under two headings – business or social innovations and new technology – and the initial assessment takes due account of likely commercial viability. Awards are made to the tune of HK$100,000 and the university commits to providing continuous support in the “pre-incubation” stage and then helping new ventures get into a public or private sector incubation programme. So far, around 40 projects – about half the total – have progressed to this subsequent phase.
IN SOME CASES, WE HAVE HIT THE JACKPOT, WITH SOME TEAMS MOVING TO SILICON VALLEY
“We keep track of the people who get grants but don’t ‘make it’ in their entrepreneurial endeavours, as well as applicants who don’t initially qualify for an award,” Wong says. “We still want to see them move on with their start-up and will help to rethink or revamp ideas if possible.” In particular, he adds, the would-be entrepreneurs benefit from advice on business models, market segments and, in round terms, what will or won’t sell. They are also made aware of the opportunity cost and continuous outlay which go with a possibly extended development cycle and that getting the technology part right can turn out to be much trickier than initially expected.
WE WANT TO GIVE STUDENTS MORE PRACTICAL EXPERIENCE OF PLANNING A START-UP AND TO MAKE IT PART OF THE EDUCATION
Overall, about 40 to 50 per cent of the proposals received are based on ideas related to internet or mobile technology. However, PolyU is also known for its strong design programmes and these are proving fertile ground for innovative product concepts and cross-breeding with the engineering and other departments. “We encourage students to look at aspects of market demand in the community, license technical developments and take knowledge transfer a step further,” Wong says. “In some cases, we have hit the jackpot, with some teams moving to Silicon Valley and others attracting venture capital investors.” The university has also introduced extra components. There is a China entrepreneur fund offering parallel matching grants for PolyU graduates starting a business in the mainland, a fast-track route to incubation at the Science Park, and a technology launch pad fund which looks to team up young hopefuls with angel investors and impress them from day one.
Mingles Tsoi, CUHK
“We have to be responsible and disciplined about our investment,” Wong says. “We are not just throwing it into the sea.”
Inside MBA
8
Cover story
Due diligence is vital, but with the government’s Technology Startup Support Scheme for Universities (TSSSU) also allocating HK$4 million a year to each of six local institutions, money is clearly available. The stated aim of this initiative is to establish tech-related businesses and encourage students and professors to “commercialise” the results of R&D. In certain respects, The Chinese University of Hong Kong (CUHK) is well ahead. It already has an EYE (empowering young entrepreneurs) programme, in partnership with Google, while its pre-incubation Pi Centre offers free workspace, facilities and mentoring support for students in any discipline who want to create a real business. “We want to give students more practical experience of planning a start-up and to make it part of the education process,” says Mingles Tsoi, CUHK Center for Entrepreneurship’s project director. “For example, in the EYE programme, so far around 40 teams involving about 1,000 individuals have had customised mentoring to help them take a step-by-step approach with clear goals and objectives.” The programme is also open to budding entrepreneurs who are not CUHK students but who simply want to learn more about the start-up environment. This is seen as an important move in terms spreading knowledge and broadening horizons. “With the new interest in supporting ‘technopreneurs’, it is a good time to change the focus so that anyone can benefit,” says Peter Mok, head of incubation programmes at the Hong Kong Science and Technology Parks Corporation. “For that reason, we are rolling out our services and experience for the general public, not just companies, in order to build up the whole ecosystem and leverage the strengths of our strategic partners too.”
Peter Mok, HKSTP
(Advertisement)
mba@ust.hk
mba.ust.hk
(852) 2358-7539
10
Dean’s desk
Making an impacting through entrepreneurship Text: Sean Ferguson
As a cutting-edge science and technology university with a worldclass business school, the Hong Kong University of Science and Technology’s (HKUST) MBA students have the potential to make substantial entrepreneurial impact during and after their time on the programme. The university’s senior leadership has made a concerted effort to commercialise the many hundreds of technology patents which have resulted from science and engineering faculty research. MBA students are at the centre of these efforts. Rather than join the corporate ranks in traditional post-MBA career opportunities, this generation of MBA students is looking for more meaningful ways to make an impact in the business community. The university ecosystem, combined with the dynamism of Hong Kong, serves as a great catalyst for innovation. Hong Kong is a great platform for entrepreneurs who want to capitalise more broadly on the growth of China and Asia. HKUST attracts entrepreneurial students from the Americas, Europe, Southeast Asia, and of course China. In addition to cutting-edge technology from the research faculty, students learn from entrepreneurship faculty with real world experience building, selling, buying and funding start-ups. Their experience is not just confined to the region, however, as many of the faculty come from outside Asia. The university has launched numerous initiatives both in and outside the classroom to further its commitment to entrepreneurship. The business school has recently appointed Jitendra Singh as dean of the HKUST Business School, to help bring it closer to the university’s Schools of Science and Engineering. As a result, more joint courses and cross-school electives have been offered. The HKUST Entrepreneurship Center hosts numerous speakers and networking events. At the end of the school year, the Center will host the fifth HKUST One Million Dollar Entrepreneurship Competition.
Sean Ferguson is associate dean of master’s programmes and director of MBA programmes at the HKUST School of Business and Management.
Inside MBA
12 12
Insights
Text: Chris Davis
Going to Israel Referred to by some as the world’s “start-up” nation, despite its small size, Israel has developed a reputation as an innovation pioneer across a wide spectrum of industries. This is increasingly attracting the attention of entrepreneurs and investors from Hong Kong and the mainland. Mickey Mushinsky, chairman of the Israeli Chamber of Commerce (IsCham) in Beijing, says investment activity between mainland China, Hong Kong and Israel is on the rise. He says collaboration is reflected in the increase in the number of Chinese com-
Text: Chris Davis Photo: iStockphoto
TODAY, ISRAEL HAS MORE THAN 5,000 START-UPS SO THE POTENTIAL FOR EVEN MORE COLLABORATION IS ON THE RISE
Mickey Mushinsky
panies and entrepreneurs looking for joint-venture opportunities, as well as venture capitalists (VCs) making direct investments in Israeli high-tech companies. For instance, through his investment arm Horizons Ventures, Hong Kong’s Li Ka-shing has invested in video-editing start-up Magisto and in FeeX, a service that finds and reduces hidden fees in investment accounts. Horizon has also invested in start-up firm Waze, which produces mobile application guides for vehicle drivers. “Today, Israel has more than 5,000 start-ups so the potential for even more collaboration is on the rise,” says Mushinsky, adding that the main areas of deal-making between Israeli and Chinese investors and businesses include medical devices, health care, IT, mobile, securities, communication and clean tech. “Israel has Inside MBA
14
Insights
been able to produce a wealth of successful start-up companies that are attractive to Chinese investors,” says Mushinsky. Last year saw the largest-ever foreign investment in Israeli start-ups, with Chinese investors among the most active players. At the same time, Mushinsky says, Israeli companies are actively “looking east” for investment and business opportunities. For example, Israeli firm Made In Sense Limited moved to Hong Kong Science Park in 2013, where its main focus is to design and develop intelligent, interactive and intuitive wearable companion devices to address the on-the-move requirements of smart phone and tablet users. In January, a delegation of 22 Israeli VCs visited Hong Kong, Shanghai and Beijing to scout for strategic partners to make joint investments in Israel. Amid growing two-way business and investment interest, Meirav Shacked, IsCham’s Beijing-based general manager, says one of its key roles is assisting Israeli and Chinese companies to develop business co-operation, know-how and ways to innovate products and services that generate mutual benefits. Established in 2008, IsCham now has more than 100 members and sponsors. Membership is made up of about 70 per cent Israeli companies and about 30 per cent Chinese enterprises. “We offer many different services designed to help companies and individuals with their specific business and investment needs,” says Shacked. Services include match-making between Israeli and Chinese companies and networking activities. IsCham also provides news and research relating to China’s economy, industries, trends and current events. Meanwhile, Ido Sharir, director-general of Israel’s Ministry of Science, Technology and Space, says many of Israel’s start-up entrepreneurs learn skills needed to start a business while completing their compulsory military national service. Speaking at the APAC Innovation Summit held last December in Hong Kong, Sharir said individuals learn to focus on producing solutions, self-discipline, and managing people and resources. He said the experience of
Meirav Shacked
serving in the military, and being involved with Israel’s security systems, often generates business ideas. “We have a thriving environment where ideas and inspiration are often transferred from the military for general applications,” Sharir told the summit.
Ido Sharir
Underpinning the increased importance of co-operation between Hong Kong and Israel, last October Israel opened an economic and trade mission in its Hong Kong consulate-general. The trade mission will assist Israeli- and Hong Kong-based companies in forging closer ties. In a move to further boost co-operation, last year Hong Kong and Israel signed a memorandum of understanding designed to encourage both technological and industrial research and development collaboration. Gregory So, Hong Kong’s secretary for commerce and economic development, says that by joining forces, the two can find more ways to multiply business ideas and opportunities.
(Advertisement)
16
First person
Architect turned financier makes waves with business Text: Vickie Chan
The founder of airplay blow dry bar, Wang Cheung, has an eclectic background. From architecture to toys and then finance, this multilingual Hong Kong entrepreneur lived in Switzerland, the United States and Japan before partnering in business with his wife. Wang received his MBA from Harvard Business School in 2007. Tell me about your background – how did you go from architecture to finance? I chose architecture, to combine creative and technical. But I realised I liked working with people, so I spent seven years in the toy industry, working with international customers. When the company launched stocks, I realised I didn’t know anything about finance, so in 2005 I did an MBA and started credit trading. What made you decide to leave finance to start your own business? I always wanted my own business; I was always looking out for good ideas. I read an article about a blow dry bar in the US and
YOU HAVE TO BE ONE STEP AHEAD OF THE GAME, ESPECIALLY IN RETAIL OR ANYTHING ON TREND
thought it would work in Asia. It turned out my wife had already suggested it, and had put the magazine in my bag! It took three months to write a business plan, find a location and investors, and hire staff. We had to move fast, to be the first in Hong Kong. Through my MBA I met people with different backgrounds and did case studies, so I learned not to be afraid. Looking back at those three months, I realise how little we knew, despite the finance, human resources and lessons in building business relationships. What are the ups and downs of business and life? Owning a business is fun – but more stressful. As an employee, you always getting paid, but now I can work really hard and still lose money. What you put in isn’t always equal to the return, at least in the short term. Inside MBA
18
First person
How do you keep the right balance between work and home – and deal with conflict? My advice is: don’t start a business with your wife – it’s impossible to avoid conflict with a business partner! We were determined to keep work and home separate, but it’s impossible – you think about your business 24/7. The good thing is that if we argue over the business, we always compromise and make up – those are marriage skills. Can you give me some insights into your business model and strategy? You have to be one step ahead of the game, especially in retail or anything on trend. Keep innovating, because anyone can copy your business model. When you’re operating, you experience customer behaviour, see room for improvement, watch the competition. The challenge is to document ideas and decide what to execute. The blow dry bar business is not a salon: Our model is no cut, colour or perm, which keeps the location clean and smelling good. Customers sit at a bar, relax with friends, have a complimentary drink or something sweet, while our artists make them party – or work – ready.
I hear you find the 4Ps (price, product, promotion, place) crucial when you do business. Tell me more. When you run a business, you don’t think this way because there are so many moving pieces. It’s an important framework, but each “P” can split into a lot of sub-categories – you’ll soon discover more factors to consider. How has your MBA helped you in your career – and your life aspirations? My MBA gave me conviction; there are a lot of options and you can be adventurous. You learn different frameworks, which help you to structure your thoughts around issues – it’s more efficient dealing with challenges. The basic skill sets are also helpful, because a business owner needs the basics in everything. And the networks are really helpful. Now I’m on the board of the Harvard Club in Hong Kong and an officer of the Harvard Business Association of Hong Kong, so I stay close to the alumni; it’s opened a lot of doors. You have lived in so many countries, and speak several languages – how does this inspire you? I love to see what’s different in each market, which informs my strategies – we took a US model and adapted it to Asia: here, we need makeup services too and the opening hours extend later. It’s made me adventurous and curious, open to ideas and cultures around the world – I’m also adaptive, which is a useful trait as an entrepreneur.
MY MBA GAVE ME CONVICTION; THERE ARE A LOT OF OPTIONS AND YOU CAN BE ADVENTUROUS
Inside MBA
20
Brightest mind
Q&A
Text: Vickie Chan
Witman Hung:
Qianhai spearheads China’s new wave of business reform Witman Hung
With more than 25 years’ experience in the computing industry, Dr. Witman Hung has seen a lot of change and gained a great deal of experience. Now, he is using his expertise as the principal liaison officer at Shenzhen Qianhai Authority. How did you start out? I did a three-year higher diploma in mathematics, statistics and computing at The Hong Kong Polytechnic University. When I graduated I worked for a start-up – private companies were computerising, so business grew fast. In 1989 I decided to start my own company and we had clients like Broadway. However, my old boss then gave me a project with KPMG. I was studying for my MBA at Hull University, as well as for a BA in management at Bolton University at the same time. After my MBA I decided to work in corporate for 10 years, in areas such as MBA training. I worked in outsourcing systems at AT&T until the Asian financial crisis. I then worked for a manufacturing company, and found myself managing staff and profit and loss. I wasn’t doing much technical work, but I did stay involved in some of the larger projects. I had always wanted to be an entrepreneur so in 2007 I started my own company, automating back office work for clients – but I’ve since sold that. Now, I focus on my three angel investments and my work for the Qianhai Authority.
What first attracted you to computing? My father was a computer engineer and we used to build simple computers together. At secondary school we also did basic programming. I saw how IT helps people – the idea of being able to do something you wouldn’t otherwise really interests me. How has the industry changed since you entered it? It used to be very much a niche – in the 1980s there were probably 200 computer science graduates in Hong Kong. Now, the internet – and the wide use of computers – means there are more jobs and more diversity, with narrow specialisations such as network management and logistics. Did you ever consider to develop in a certain area? My shift to management was quite natural – I was promoted due to my abilities and I needed a team. You hire people beneath you and, by default, you become more senior.
WE HAVE A 2020 GOAL FOR QIANHAI: 650,000 PEOPLE WORKING IN MODERNISED COMPANIES
What is Qianhai all about? It’s a special innovation zone for what China calls “the modern service industry”. Qianhai should supplement Hong Kong and enable China to learn the best business practices from Hong Kong. I see this as the second wave of reform in China – during the development of Shenzhen, China had a lot to learn. With more privatisation, they can see how the market can lead developments. In Qianhai we hope to remove some of the approval requirements for businesses, to see what can happen. How has your career given you the experience and knowledge you need for your role as principal liaison officer at Shenzhen Qianhai Authority? Aside from my skills and experience, I have advised the Hong Kong government on policies relating to technology and privacy – so it seems like a natural partnership. I was invited by a minister to be the Hong Kong representative. What’s next? We have a 2020 goal for Qianhai: 650,000 people working in modernised companies. Meanwhile I will support my interest in the start-ups I invest in – I want to see how these young people will continue to achieve. I think it’s part of a natural cycle – from being a technician to managing, to investing and being a mentor.
Inside MBA
22
Star blogger
The making of a female entrepreneur Text: Jennifer Cheng Photo: Akio Kon
As the current founder and CEO of Glam-it! (Glam-it.com), I’m a serial entrepreneur who has helped create and build companies such as Groupon Hong Kong, BEECRAZY, and Glamabox in the group buying, social media, e-commerce space. I’ve always been what they call book smart. My family was very fond of telling me, and rightfully so, how there was a definite and distinct difference between book smarts, which I had, and street smarts, which I lacked, and which are still not my strong suit. Part of this I attribute to the reality that I was very sheltered growing up (book smart), and only left home for college (book smart), worked
a few years while modeling and acting (street smart), and doing my MBA at HKUST (book smart) and finally spread my entrepreneurial wings in Hong Kong these past few years during which I involved myself with three start-ups as vice president or co-founder (street smarts + school of hard knocks), culminating in GlamGirl my current start up which just launched (street smarts + book smarts + school of hard knocks). I got my first taste of entrepreneurship while working in NYC as a model and actress, because the whole process told me how to run my own business and build a brand, both of which were essentially me. Also, unbeknownst to me at the time, I was honing my sales skills and presentation skills with each audition or shoot, improvising as I went. At the same time, at my day job as a media sales executive, I learned to further formalise these soft-skills including writing, selling, presenting. At this point I decided to go to Hong Kong to pursue my MBA, which I realise now was to get the academic codification of these skills, and discover others I wouldn’t encounter in my industry. There are many entrepreneurs (Bill Gates, Mark Zuckerberg come to mind) who don’t need a formal education to jump right in to founding their companies. For me though, this was a necessary step, as I really needed to learn how to make my previous education and experiences work for me, and I needed the time for everything to percolate and gain the clarification I needed for the next stages of my life and career. In business school, I gritted my teeth through accounting, macroeconomics, terms like FIFO and LIFO (inventory terms “first in, first out”, “last in, first out”), financial modeling, but perked up during marketing and reviewing the 4 P’s (Product, Price, Place, Promotion). Through every case study or group assignment, I saw real-life application for what my peers and I were learning in the classroom that I couldn’t wait to apply when I was outside of the classroom. I actually got involved with start-ups, and worked three part-time jobs while I was in business school. That’s how excited I was to put the new skills and knowledge I was acquiring to good use. Also, even as I referred to case studies, I would often be overcome by a surreal feeling that I could go back in time, that the perspective I was gaining could be applied to my previous work and life scenarios. Since hindsight is 20/20 anyway, I trained myself to look to the present and the future.
Jennifer Cheng
Inside MBA
24
Star blogger
Jennifer Cheung (centre) shares her experience at the MBA Festival 2014
Since getting my MBA and working at three start-ups and started GlamGirl, I’ve gained even more of what I’m terming my postMBA education. Here are some lessons I learned along the way, some of which were more painful than others: 1. Develop your network, and maintain good relationships based on trust, respect, and good business dealings. You never know when your client will become your supplier, or your marketer your customer, or any of these and other combinations. That people’s roles and significance change is only to be expected as they take on new positions and you all move through different stages of life and career milestones. 2. Choose your partners wisely. Better to have no partners at all and go it alone, unless you have partners you can absolutely trust. It’s better, if possible, not to go into business with friends or people you haven’t spent several years getting to know, because there is so much risk that things can go awry. 3. Grow your team slowly and wisely. I’ve finally found that I work best without partners (or maybe I haven’t found the perfect partner yet). Instead, I draw advice and inspiration from my team (a core group of a few individuals working at GlamGirl since the beginning), and they are collectively a very effective sounding board for me.
4. Communicate clearly, and when in doubt, put it in writing. Putting things in writing and reading them to yourself brings clarity. Doing this is also imperative if you are making an agreement or a contract, so that every one is on the same page. I’ve seen friendships and professional relationships alike wrecked when things weren’t put into writing, so I can’t stress this part enough. 5. If you are not passionate about something, don’t do it as a job, and do not create a business around it. It’s really amazing when you are able to create a company that is solving a problem that you and other people could benefit from, and truly rewarding to create value. That’s something I’m lucky enough to experience every day. I’m at the point now where I’m married to my brand, and don’t distinguish that much between one and the other, and now that I’ve given up chasing a work-life balance, a work-work balance doesn’t seem so bad. 6. Prioritise. It’s all about trade-offs. Figure out what’s important to you, that you cannot live with, then make your list from there and base your decisions accordingly. I’m trading in compensation in terms of salary, in return for an opportunity I’m passionate about, and which, if I can overcome the next set of challenges, might really pay off for me and my team at GlamGirl. In the short-term, I’m sacrificing the cushy paycheck and the glitzy office, and investing more in our product development instead. I don’t regret any of the experiences I went through, as difficult as some of them were, because they were outweighed by the times my team and I were able to overcome the challenges we and our companies encountered and because the culmination of all this education which continues to this day is GlamGirl- my beauty and fashion brand and e-commerce platform.
BETTER TO HAVE NO PARTNERS AT ALL AND GO IT ALONE, UNLESS YOU HAVE PARTNERS YOU CAN ABSOLUTELY TRUST
Inside MBA
26 26
Out of class
Text: John Cremer Photo: iStockphoto
Avary Chong
Course helps MBA jobhunters play to their strengths
Finding a job or career path that feels absolutely right can be surprisingly hard. That becomes clear when you start to notice how many people – in their reflective off-duty moments – admit to being in a job, or even a sector, where they seem unable to put their talents to best use. All too often, the root of the problem can simply be that the individual is not fully aware of his or her real strengths. That might seem strange, but when making career choices it is easy to be influenced by peer pressure or the attraction of what pays best. Instead of thinking long and hard about how to maximise their potential and find long-term job satisfaction, many people are still more likely just to go with the flow, do what’s expected and trust to luck that everything will work out. The end result can be years of frustration and growing discontent. Another approach, of course, is to be more proactive when it comes to knowing your strengths and determining how and where they can be best utilised in the world of work. A number of well-regarded tools are now available to help with that process, among
Inside MBA
28 28
Out of class
them Gallup’s “Strength Finders” programme, which has already been used by more than 11 million people around the world. “In particular, this is something for MBA students or executives with a keen interest in upgrading themselves,” says Avary Chong, certified strength coach for Gallup, who notes that there are two main options to consider. The first is to take a test which includes one-on-one assistance in identifying and understanding a person’s unique strengths and, thereby, giving them a better chance to excel. The other is a tailor-made course, designed primarily for employers and business schools, which helps with career planning and counselling, shows the overall benefits of letting people play to their strengths, and leads to certification as a recognised coach. The basic aim, Chong explains, is to help people do what they do best every day. This has to start with getting them to appreciate their personal strengths – that combination of talents, skills and knowledge which everyone has in different measure. Beyond that, the next step is to see them using those innate traits and abilities more effectively in their daily lives in handling work assignments, relating to others and, in due course, achieving their broader goals. “It has to be a concern that most people don’t know what their true strengths are or have the opportunity to really use them to their advantage,” says Steve Wang, principal of Gallup in Hong Kong. However, related research has thrown up some important findings. For one thing, it has shown that people who do have the chance to focus on their strengths every day are six times as likely to be “engaged” in their jobs. As a direct result, they are also more productive, as individuals and in teams. In addition, they are more than three times as likely to describe themselves as having an excellent quality of life. “We believe it is important to create a culture where strengths are recognised and can thrive,” Wang says. “These assessments and courses have already helped millions of people discover what they do best and have allowed us to enhance personal development and create a ‘science of strengths’.”
THIS IS SOMETHING FOR MBA STUDENTS OR EXECUTIVES WITH A KEEN INTEREST IN UPGRADING THEMSELVES
LET CHOICE NOT CHANCE DETERMINE YOUR FUTURE Education Post is Hong Kong's leading online education website with up-to-date editorial content such as insider news from the Accounting, Business and Education communities and the most comprehensive database in postgraduate, MBA and continuing education with information on over 2,000 courses.
@ educationpost.com.hk
YOUR CAREER STARTS HERE
Inside MBA
30
MBA helpdesk
Admission interview tips Text: Wilfred Leung Image: iStockphoto
An interview is an important meeting. We all have to go through a few during our career, whether for a business school admission application or when we are about to graduate from an MBA programme and are looking for possible career advancement. But how do you prepare well before attending such an important meeting? Do your research – it is always important to obtain background information on the organisation you are applying to. It is easy to find out their history, strength and structure from the internet. This will help you to prepare for some of the questions and provide a good impression, showing that you are interested in their organisation. Most likely questions – prepare a list of the most likely questions and attempt to give a good answer to each of them. If this is for a business school application, one common question is your short
BEAR IN MIND THAT WHAT THEY ARE LOOKING FOR IS WHETHER YOU HAVE A CLEAR UNDERSTANDING OF YOURSELF AND YOUR CAREER GOALS
Inside MBA
32
MBA helpdesk
Wilfred Leung
and long-term goals and your post-MBA plans, in addition to the usual self introduction. Bear in mind that what they are looking for is whether you have a clear understanding of yourself and your career goals. You may not need to be very specific about the details, but at least you should have goals in terms of the industry and functional areas you will be working towards. This information will help them assess whether you may be a competent candidate for the position or programme. Manage your anxiety – the day before your interview, make sure you rest well. A clear mind will help you to stay focused and alert for the interview questions. Have you ever had a dream where you showed up at an important meeting overdressed or underdressed or even wearing pyjamas? I have, and this just shows how much you value the meeting. Try to accept and manage your anxiety. Consider taking a walk on the day before and sleeping early. I have experienced sitting on both sides of the table, as a candidate as well as an interviewer. The interviewers may be under pressure too to recruit the right candidates. They may be thinking what kind of questions to ask and observations to make. Note that while you are looking for the right organisation, they too are trying to look for the right candidate. Both parties may stand on an equal footing. This is an important meeting, but then again it is just a meeting. There are other jobs or schools out there if this one does not go well. Q&A time – near the end of the interview, the interviewer usually asks you whether you may have any questions. Do not skip this
part lightly. This is a good time for you to find out more about the organisation and the position you are applying for. Ask sensible, intelligent questions to show the interviewer that you are interested in the nature of their work, and you have done some research in the area. As an MBA student, with your experience and observation, you should know by the time you get to this part of the interview how much the interviewer is interested in you. Handle your questions gently and clearly, wearing a smile which will help put both parties at ease. When you feel it is appropriate or it has been initiated by the interviewer, discuss the conditions of your possible employment in terms of salary range and other benefits. Of course, you need to do this in a subtle manner and this may be a time to use some of the negotiation skills you have learned in business school. You know you have more bargaining power when you sense that they more or less would like to get you on board, but this requires careful observation and reaction throughout the interview. And if this is a school admission interview, you can find out what kind of scholarship or financial aid may be available by asking the right questions. Overall, it comes down to the basics of needing to have a good understanding of yourself, where you are now and where you are heading, and a thorough knowledge of the organisation you are applying to. All the best!
Wilfred Leung is general manager at Charles K. Kao Foundation for Alzheimer’s. He is an honorary research associate at the Li Ka Shing Faculty of Medicine, The University of Hong Kong and has been serving in the school management committees of local primary and secondary schools.
Inside MBA