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JAN Inside MBA Inside MBA Corporate social responsibility - Top 10 trending factors business school applicants consider - Agency engages staff and makes an impact with CSR - 11 reasons why you didn’t make the cut
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CONTENTS Cover story
4
Benefiting stakeholders with corporate social responsibility ANDREA ZAVADSZKY
Dean’s desk
12
Making a difference – MBAs with a social purpose BILL KOOSER
Insights
14
Fluid engages staff and strikes a balance with CSR initiatives JOHN BRENNAN
First person
16
HKCSS-HSBC Social Enterprise Business Centre supports social enterprises with funding and know-how
Trends
22
Can you measure what you treasure? STAFF REPORTER
MBA helpdesk
24
How to research MBA programmes EMMA YIP
Out of class
28
Gin is back in demand at bars in Hong Kong and beyond JACQUELINE TSANG
JOHN BRENNAN
Brightest mind
20
Q&A with Brigit Fung Pui-kee ANDREA ZAVADSZKY
Inside MBA is published by Education Post, South China Morning Post Publishers Ltd. All rights reserved. ISBN: 978-962-8148-32-5
Star blogger
32
11 reasons why you didn’t get the job JOSHUA STEIMLE
4
Cover story
Benefiting stakeholders with corporate social responsibility Text: Andrea Zavadszky Photo: iStockphoto
Roger Levermore, HKUST
The meaning and content of corporate social responsibility (CSR), maintained by companies to give back to society and create social value, have developed and changed over the years in their direction, and now the programmes reach different beneficiaries. What simply used to be a platform of charitable or philanthropic giving to support the needy, such as old people or children who could not go to school, the sick or disabled and the arts and music, today is strictly aligned with a company’s core business and strategy, and primarily seeks to benefit its stakeholders. “The best companies, when they try to address social or environmental issues, they make it core to their core business strategy,� says Ioannis Ioannou, assistant professor of strategy and entrepreneurship, London Business School. In this sense, the main objective of CSR now is too look at where the company makes the largest impact on society or on the environment and how its stakeholders are affected, and create a programme with corporate governance and compliance in mind. For example, an oil company would look for ways to reduce its large carbon footprint caused by its CO2 emissions, an apparel company could look at excessive overtime or fair wages for their workers and a bank could work on financial inclusion programmes for the community. How does it work? Marriott International, a large hotel chain with a sizable and fast-growing presence in China, established that wa-
Inside MBA
6
Cover story
Professor Carlos Lo, PolyU
ter is one important natural resource hotels use in great volume. Therefore, in 2010 they launched a water conservation programme in Sichuan at a value of half a million US dollars to safeguard the source of clean water, while also making steps to reduce water consumption in their hotels. “For this to really work effectively, it requires stakeholder agreement and in-depth understanding of what the issues and challenges are,” says Craig Smith, chair professor of ethics and social responsibility at INSEAD, adding that the solution sometimes can be a tricky issue, involving multiple parties.
Environmental initiatives can save money!
1
Building the programme Once the right stakeholders or beneficiaries have been identified, the company should work out the vision, strategic direction as well as the management structure and public profile. A CSR programme is excellent for strengthening employee engagement and encouraging teamwork. Therefore, employees should be involved in the planning process including decision making and developing ideas. Employees should also receive training if necessary, while their efforts should be included in the appraisal system and rewarded. Professionals agree that the programme has to be managed topdown, and those responsible for CSR within the company should report to the chief executive or the board. “[CSR] is central to the business strategy and needs representatives at the highest level,” says Smith.
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3
In the case of smaller companies or SMEs, if the company’s environmental risk is lower, insurance companies may offer a better deal. Banks will recognise the company as a customer with high integrity and will look at loan applications favourably, and possibly give a concession. CSR award winning companies have a better reputation as customers, and also with customers.
The best companies, when they try to address social or environmental issues, they make it core to their core business strategy
Photo: Rob Greig
– Ioannis Ioannou
Inside MBA
8
Cover story
Roger Levermore, senior lecturer, department of management, The Hong Kong University of Science and Technology agrees. “It is not a publicity stunt! It should be led by people high-up in the organisation. In many organisations a role in CSR is not regarded as prestigious. Those reporting to the marketing department have legitimacy problems,” he says. At Marriott, the highest level of management from the US went to China to visit remote parts of Sichuan to see how the conservation work was going on. At the same time, the hotels made thorough arrangements to coach staff and explain to guests the need for and ways of saving water, including no daily change of bed sheets and bath towels. Having linked the CRS programme to the company’s core business and key stakeholders, the company should be able to run it for a considerable time. “It is a living concept. Some programmes have a lifecycle and some can continue,” notes Carlos Lo, professor and head, department of management, faculty of business, Hong Kong Polytechnic University of Hong Kong. Measuring the results Surveying the impact is easy when it comes to CO2 emission, financial inclusion or overtime. Reviewing it from the point of view of stakeholder satisfaction and benefit to company, such as sustaining business, adding value and creating competitive advantage, increasing staff motivation, engagement and retention is more difficult.
Craig Smith, INSEAD Photo: Matt Stuart
“The total number of volunteers is a very poor measure. You have to ask, did the values of the company change? Did it really motivate employees in a more meaningful and profound way?” Ioannou says. It is also interesting to see that well-constructed CSR programmes can introduce profound changes into companies’ businesses by encouraging innovation and important discoveries. “Sometimes [CSR] poses big obstacles in terms of integrating it into the business, such as how to take products back to disassemble and reuse. Addressing these issues is a matter of innovation,” Ioannou says.
BUILDING A CSR PROGRAMME
1
Understand the most important and pressing issues in consultation with your stakeholders.
2
Identify the beneficiaries of your programme among your stakeholders.
3
Get stakeholder input and agreement for the programme idea.
4 5
Work out the mission and vision of your programme.
6
Develop the management structure and connect it with the highest level of management in your company for additional support.
7
Involve staff members, appraise and reward their contribution and train them as necessary.
8 9
Ensure the programme is integrated into the business.
10
Tweak, overhaul or discontinue the programme as necessary.
Draw up the strategic direction and the public profile of the programme.
Measure the results on a yearly basis, and be on the lookout for other emerging issues.
Inside MBA
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Wilfred Leung
Forsaking the corporate world to help the needy
So, while still maintaining links with the scientific community, he found an initial role with an international NGO and, after a couple of moves, is now General Manager of the Charles K. Kao Foundation for Alzheimer’s Disease. The foundation focuses on providing care for people with dementia and educating the public about causes and treatment. In doing this, one of Leung’s responsibilities is to develop partnerships
There is a growing band of professionals who
with local companies, promoting the concept of
choose to put their hard-won experience to work
corporate social responsibility (CSR) and encour-
in the non-profit sector rather than the corporate
aging engagement among staff volunteers.
world and, in certain ways, Wilfred Leung personifies the type.
“It is very important to increase awareness of dementia in Hong Kong, which has an ageing popu-
Having originally studied biochemistry, and then
lation with more people living longer,” Leung says.
built a successful career as a research scientist
“We do fundraising and support service agencies
and instructor, he simply decided a few years ago
like the Hong Kong Society for Rehabilitation, St
that there were other ways to have an impact on
James’ Settlement and Haven of Hope. And I’m
the lives of others, which should be explored.
working directly with companies and local organ-
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isations for monetary donations, to get their staff
This extends to talks with the government and
involved, and to secure sponsorship or in-kind do-
the Housing Society about developing or adapt-
nations of merchandise, venues and PR support.”
ing more homes for the needs of elderly people and having more built-in facilities. In addition, the
Illustrating the scale of the challenge, Leung notes
foundation is co-organising a competition for both
that around 10 per cent of Hong Kong people in
secondary- and tertiary-level students to design
the 65-plus age group have varying degrees of de-
dementia-friendly home environments which also
mentia. The cause can be Alzheimer’s disease – it
reflect the best principles of green living.
is in 60 to 70 per cent of cases – vascular dementia or other so far unknown reasons.
“Overall, it is very encouraging for us to see the increased commitment,” Leung says. “But it is
Deterioration usually starts with mild cognitive im-
challenging too because we have to do more to
pairment, gradually affecting other areas of the
‘connect’ donors with beneficiaries, so they can
brain. This leads people to forget where or even
see how their contributions are making a positive
who they are or, for example, what they were in-
change.”
tending to do when out on the street. However, such encounters can also be quite In the 85-plus age group, about one-third are reck-
touching. For example, when 25 or so staff from
oned to be sufferers.
Wellcome recently visited a dementia-specific centre which arranges daily activities and physical
Worryingly, an increasing number of younger peo-
care, they brought scarves they had hand-knitted
ple, perhaps only in their late 40s, are also starting
and other Christmas gifts, staying for a tea party
to show symptoms. The reasons are not entirely
and to chat.
clear, but may be related to pollution, stress or modern-day urban lifestyles.
“To see the joy on the faces of the elderly people was something special,” Leung says. “They really
“We need to respect all these people even if they
appreciated the visit and the interaction.”
may not be able to express themselves well,” says Leung, who previously worked for World Vision
Now taking a part-time global MBA with Manches-
Hong Kong. “Fortunately, more and more compa-
ter Business School to improve his understanding
nies are interested in CSR in the fullest sense, not
of the corporate world and its methods, Leung was
just making a donation to get a tax deduction at the
pleasantly surprised to find that one of the first
end of the fiscal year. More employees and man-
case studies for his group centred on an NGO.
agers want to be involved, meeting the beneficiaries and spending time with them, and that makes it
Subsequently, other cases have looked at the
easier for us to find volunteers and corporate sup-
workings of the Red Cross and Unicef. In fact,
port for practical needs.”
roughly one-third of the cases used in the course bring in some aspect of NGO or non-profit work.
This might be anything from free adverting on the MTR to getting goods from caterers or space in
“This gives me a chance to share my experience
shopping malls for Christmas charity sales. Or it
with the group and the rest of the class,” Leung
could just mean there is a generally more recep-
says. “I think it also helps to open up new horizons
tive environment for discussions with the likes of
for classmates who work in the traditional corpo-
property developers and public services providers
rate sector and gives them ideas to introduce in
about offering dementia-friendly services.
their own companies.”
12 12
Dean’s desk
Making a difference – MBAs with a social purpose Text: Bill Kooser
Bill Kooser
Today’s MBA students are exploring a broader range of career options than ever before. There is no denying that investment banking, consulting and entrepreneurship remain some of the most sought after as careers which offer enticing prospects. Increasingly, though, business school students around the world are looking for ways to make a difference. They don’t simply want to do well, they want to do good too. For the current MBA generation, opportunities to give back to their communities and use their skills to address some of the world’s most pressing issues are taking on a new importance.
Top business schools have duly taken note. Courses on social enterprise, non-profit management and corporate social responsibility (CSR) are becoming a standard part of the curriculum. In addition, many schools now offer opportunities to work with the disadvantaged and learn about the difficulties of building businesses in emerging economies. They offer classes which highlight the opportunities in underserved markets and provide insights into how companies – big and small – can do more to serve their communities. Some, like Chicago Booth, have even taken steps to establish research centres with a focus on creating effective and socially responsible organisations. Business schools still teach that a company’s most important responsibility is to be successful. After all, if it isn’t successful, it can’t possibly address the wider needs of the community, which go beyond providing employment and offering products or services to the market. However, students and employers alike are increasingly interested in gauging success by something more than the usual measures of sales figures and income statements. Having a broader social mission can be good for employee morale. It is also good for the company’s reputation and can strengthen the communities and markets the organisation serves. More than ever, MBA students are considering not just where their careers will lead but how they will make a difference. That may lead them to start up a new social enterprise, join a firm with a strong CSR programme, or simply spend more of their free time on volunteer and charitable activities. They realise that such experiences can be fulfiling and rewarding in all kinds of ways. Business schools can help individuals achieve these goals and, thereby, are doing their bit to make a difference too. Bill Kooser is the associate dean for Global Outreach at the University of Chicago Booth School of Business. He is responsible for developing relationships with key government, business, and media leaders for the school.
STUDENTS AND EMPLOYERS ALIKE ARE INCREASINGLY INTERESTED IN GAUGING SUCCESS BY SOMETHING MORE THAN THE USUAL MEASURES Inside MBA
14
Insights
Fluid engages staff and strikes a balance with CSR initiatives
Guy Parsonage
With more and more charities and worthy causes vying for our attention, it is increasingly important for any organisation looking to mobilise public or institutional goodwill to get its message across in the most convincing way possible. That’s why Guy Parsonage, CEO of fluid, the Hong Kong-based multi-disciplinary strategic brand solutions agency, believes his company’s corporate social responsibility (CSR) projects can do the greatest good if they harness his staff’s communication skills. “As the space gets more competitive, I see the causes that focus on providing a clearly articulated message doing better,” he says. “I
Text: John Brennan Photo: Paul Yeung
always feel that our hands are of more value than our money, so I encourage businesses to not only donate funds but to commit their time across all levels and really work with their chosen charities to make a significant impact.” “As an agency, we are focused on providing meaningful change to the clients and communities we are part of. We have an extremely active CSR committee that commits the team to work on a range of causes and charities each year. We are currently working with Hands on Hong Kong to deliver their brand, creative and digital needs across projects like Drink for Good, Fruit for Good and Sweat for Good. We have also won a gold Marketing Effectiveness Award for our work delivering the WWF Earth Hour campaign.” Parsonage says that the CSR work fluid does is either on a pro bono basis, or at heavily discounted rates. “Our work for Hands on Hong Kong was completely free. This was possible because they were flexible around timelines and understood what we were doing. Also they didn’t have massive projects but small ‘trickle’ ones that carried through the year.” Parsonage says that staff engagement is key when it comes to committing the company to a particular project. “The programmes we work on are driven and decided on by the staff, themselves,” he explains. “And, I’d say, for more junior staff our CSR work gives them access to bigger projects that they have to self-manage. They give the senior management team access when needed, but they are given more license because the timelines are not normally as pressurised.” Moreover, Parsonage does consider this work within the overall context of what fluid does. “I think the big thing for me is just trying to create that balance around the work that we do. As a business, I try and make sure we have a balance of projects going through so that it’s not just big banks and big corporations that are benefitting from our skills. We are part of many communities – local, staff and clients – and our commitment to CSR work across all these groups is essential to maintaining truly strong and authentic relationships.”
I ENCOURAGE BUSINESSES TO NOT ONLY DONATE FUNDS BUT TO COMMIT THEIR TIME ACROSS ALL LEVELS Inside MBA
16
First person
Howard Ling
HKCSS-HSBC Social Enterprise Business Centre supports social enterprises with funding and know-how Text: John Brennan Photo: Edward Wong
Advising people on how to take an entrepreneurial approach in helping both themselves and the environment is increasingly seen as one of the most effective corporate social responsibility (CSR) strategies that businesses can engage in. “The sector is definitely growing rapidly,” says Howard Ling, chief consultant of the HKCSS-HSBC Social Enterprise Business Centre. “There are currently over 400 social enterprises active in Hong Kong.” Commercial opportunities have been spotted across a broad spectrum of the economy, with these local enterprises engaged in everything from car cleaning to recycling and from babysitting to caring for the elderly. HSBC and the Hong Kong Council of Social Service (HKCSS), a federation of non-government social service agencies, set up the business centre in 2009 to incubate and offer consultancy services to social enterprises. “We have consulted over 100 social enterprises in Hong Kong in the past five years,” Ling says. “These social businesses in-
clude Happy Veggies, My Concept, New Life 330, ibakery, I+O event management, Add Oil Music, and Good Points.” “HKCSS is responsible for the management of the centre and HSBC is the major and founding funder. The Li & Fung Foundation is another funder and McKinsey, KPMG, the Law Society of Hong Kong, DBS, Microsoft, Hong Kong Broadband Network and the Peninsula Group provide either grants or business support to many social enterprises. The MBA Alumni Association of the Chinese University of Hong Kong and Hong Kong Polytechnic University also support the centre.” Ling says the aim is to help social enterprises through the offer of both financial support and the sharing of skills. “We help them to apply for funds from foundations or government social enterprise funds. After the funding, we provide business support with our knowledge volunteers - we call them Social Angels. Business Angels give money, while Social Angels give knowledge and time.” Ling worked for Nestle, LVMH, and Tag Heuer Switzerland before striking out as an entrepreneur in 2004. His involvement with the HKCSS–HSBC Social Enterprise Business Centre stretches back from their inception. “I was interested in social entrepreneurship and youth development at that time and I was serving as a knowledge volunteer for several NGOs. When I saw this opportunity, I told my business partners that I would like to apply and spend less time on my own enterprises. We agreed on me taking up that challenge in 2009. After two-and-a-half years, I changed my full-time role to a parttime one and became the chief consultant for the HSBC–HKCSS Social Enterprise Business Centre.” Ling sees an increasingly bright future for social entrepreneurs and can quickly reel off a number of prominent examples of work leading businesses are already doing in this field. “DBS are giving grants to scale up social enterprises; the Peninsula Group is giving advice to improve social enterprises and also making purchases through social enterprises; the Sino Group is developing a sustainable community programme with social enterprises in Hong Kong; Hong Kong Broadband Network is outsourcing calling and catering services to social enterprises; and Pokka Café is hiring the hearing impaired.”
WE HAVE CONSULTED OVER 100 SOCIAL ENTERPRISES IN HONG KONG IN THE PAST FIVE YEARS Inside MBA
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MBA students put skills to use to make a difference within the social enterprise sector Conducting a consultancy report for a social enterprise not only allowed Baptist University (HKBU) MBA students to put theory into practice, the exercise also provided a social enterprise with practical recommendations. As part of their core “MBA Project Report” course requirement, a team of five HKBU MBA students produced a consultancy report for Yan Chai Hospital Healthy Herbal Packs Centre (YCHHHPC). The aim of the project focused on boosting financial performance and ensuring the Centre’s sustainability. The consultancy initiative supports the HKBU’s core objectives of integrating teamwork, innovation, integrity and social responsibility into its part-time MBA programme. “Producing the consultancy report was exciting, rewarding and challenging,” says Laychoo Wong, the HKBU MBA team leader. “As a social enterprise we needed to spend time finding out how the YCHHHPC business functions,” adds Wong, who describes working on the consultancy report as an “eye-opening” experience. Consultancy report partnerships are arranged with participating
enterprises through the HKBU Business School. Established in 2013, YCHHHPC is a social enterprise set up under the Home Affairs Department’s Enhancing Self-Reliance scheme and operated through the District Partnership Programme. The Centre helps to provide employment opportunities on a part-time basis for underemployed women or those who have to take care of their children and are unable to do fulltime job in the Tsuen Wan and Kwai Tsing districts. Apart from providing financial support, employment opportunities also help women integrate into the wider community. Putting MBA skills into practice Wong says the consultancy team was able to utilise knowledge and insights gained through their MBA programme coupled with individual business experience and skills to ensure the recommendations were significant and meaningful. “We were able to build a very good working relationship with the Yan Chai staff and management, which helped us to look deep into the business and retail functions of the organisation,”
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business, social enterprises need to function with sound business philosophies, Alex Wong says producing a report for a non-corporate enterprise has enriched the MBA team’s understanding of diverse market situations. Echoing Wong’s sentiments, the fifth team member, Bono Tsang, who works in sales expertise sales and marketing, notes the importance of using market research to develop solutions. Part of the consultancy team’s recommendation is to work with larger organisations to offer health packs as a customer reward scheme.
says Wong. As organisations increasingly focus on corporate social responsibility, Wong believes MBA students can gain valuable knowledge and experience through working with social enterprises, which can be applied to their own organisations. Attention to detail Starting from October 2013, the HKBU MBA team spent more than six months working with the Yan Chai Centre conducting interviews, collecting data and carrying out market research to develop a list of proposals and sustainability strategies. The students also demonstrated how they were prepared to go the extra mile to provide a comprehensive consultation report. For example, with the support of their employers, the students took time off from their day jobs to attend sales events. “We wanted to see the sales activities in operation so we had a better understanding of the goals and objectives,” says Michael Yeung, an accountant and a member of the MBA team who specialises in using analytical software. Nic Tang, another member, says the consultancy team quickly discovered that textbook solutions do not always necessarily apply to small businesses such as YCHHHPC. Economies of scale and restraints on financial and human resources are just two examples. “Our MBA programme provided a good platform that helped us put our skills into practice to develop suitable solutions applicable to the Yan Chai business needs,” says Tang. Highlighting the way that just like a for-profit
Working together Meanwhile, Yuen So-ying, assistant manager, development department, Yan Chai Hospital Board, says that because HKBU MBA students tend to have sound knowledge of how enterprises are run, this makes it easier for them to grasp the essence of getting to know the pros and cons of a small-scale social enterprise business such as YCHHHPC. “They are able to provide new insights and views on how to improve the business though the ideas that can be implemented during the short and longer-term,” says Yuen. In addition, Yuen says that through their business ties, HKBU MBA students can help to widen the Yan Chai Centre’s business network via publicity and even the sale of herbal packs. “With these networks established we can expand our charitable objectives and enable the underprivileged to have greater social interaction and more economic opportunities,” says Yuen.
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Brightest mind
Q&A
Text: Andrea Zavadszky
with Brigit Fung Pui-kee What drives you to work in the field of corporate social responsibility (CSR)? CSR is about creating competitive edge to businesses with consideration to their social and environmental sustainability. My mission is to advocate CSR to companies in formulating and implementing business strategies which bring positive societal impact, a better environment, and to ensure better distribution of resources in terms of money, time and skills. Companies could look into ISO26000, which offers guidance on how to work in socially responsible ways. What keeps you inspired? My interest in sustainability started when I was an undergraduate student. My motto is “be the change that you wish to see in the world”, by Mahatma Gandhi. What motivates me is to keep learning and doing the right things in issues related to CSR. Another thing that motivates me is to meet people related to the field. They are passionate about their work, and we share ideas about what we could do together for a better world. Environmental issues need to be solved by a common effort. Describe an ordinary working day in CSR? CSR is about communicating with different functions, departments and offices; so emailing is a crucial part of the day. There are many conference calls, meetings and video conferencing with different stakeholders. Industry benchmarking is also important. We need to look at what is happening in the market and what other companies are doing in related fields. There are also regular global webinars among member firms around the world where CSR directors and managers can share experiences. What is your most memorable project? In 2012, I worked as a CSR consultant, and we put together a
With an MSc in Environmental Planning and an MBA, Brigit Fung started out as a environmental officer in a construction company before becoming a CSR consultant to corporate clients and CSR manager in one of the Big Four accounting firms where she was responsible for the firm’s CSR strategy and programmes for close to 10,000 people in 17 offices across the Greater China region.
CSR guide for small- and medium-sized companies. The project (www.csrsme.com.hk) was supported by the HKSAR Government Sustainable Development Fund. It also involved public forums and training workshops, and brought mindset change to SME owners, helping them to understand the needs of society and the environment. It made a real difference for SMEs. What keeps you awake at night about your job? I seldom need to loose sleep over problems at work, but when I hear about natural disasters, that keeps me awake. First thing the next day, I need to find out the severity of the affected area and the business impact related to the disaster. Then I discuss with non-governmental organisation (NGO) partners and our business leader how to respond in a timely and effective manner and whether to initiate a staff donation campaign in response to the disaster relief efforts. It is even worse if one of our colleagues is on a service trip to the affected area at the time. Then, I get really worried, but I trust that our risk management team will ensure the safety of our people at all times. How do you launch a new programme? It depends on the firm’s direction, the staff’s interest and the needs of the community. Many colleagues enjoy relating staff volunteering experience with their professional skills. For example, as a professional services firm, we have introduced financial literacy classes for high-school students as one of the activities in our community service day. Why did you decide to join an MBA programme? While working with different groups of people, including business people, government and NGOs, they kept asking “what is the business case for this project?” You might not have an idea how businesses look at CSR but the MBA helps you understand what they are looking for. From the first step of writing my statement for the programme application to taking CSR related courses, internships, hosting a student-organised CSR event and networking with like-minded business people and alumni during my MBA, all that has prepared me for a meaningful career. What trends do you see coming? CSR is not regulated at the moment but businesses can’t ignore this possibility. I see it becoming more and more important. From this year, all Hong Kong listed companies need to publish a report on their environmental and social governance. Furthermore, carbon management is also a good way to cut cost, if your measurement is in place. Inside MBA
22
Trends
Can you measure what you treasure? Text: Staff Reporter
In our current ranking-obsessed society, where we like to measure and compare everything, a survey by the Education Post suggests that applicants remain sceptical as to the inherent value of university rankings, when they are choosing business schools. There is a plethora of university-oriented Reputation Rankings, the most well-known perhaps being the annual results published by the Times Higher Education magazine. Undoubtedly, the reputation of the school continues to be
the number one factor that applicants consider when deciding on which business school to apply to; however, there seems to be a growing emphasis on the relative quality of universities. This could be one reason why a business school’s reputation is deemed to matter more than its rankings: after all, there is more to a university’s reputation than its positioning within a ranking table. In both of the 2014 surveys conducted by Education Post (one in early 2014, and the other in late 2014), rankings come up as seventh in the list of factors considered by applicants in their decision-making process. The possibility of a differentiation among applicants between a business school’s reputation and its rankings is surprising, given the emphasis that all the top universities place on their position within the pecking order when attempting to attract prospective MBA students. Furthermore, location and the length of the MBA courses have both become more important factors for candidates, as have the considerations in the areas of return on investment and networking opportunities. This may be a reflection of the increasingly competitive climate whereby MBA degrees are assessed more holistically, in terms of what graduates can concretely gain and benefit from post-completion. Considering the globally high unemployment rates, it is understandable that one would scrutinise business schools more closely, weighing up the institution’s career placement records etc, since graduates are ultimately seeking to leave with an enhanced brand image and better jobs. What is, however, more surprising is that the quality of the academic staff is not deemed as vital a factor as it used to be, falling from second place to fourth place. This pragmatic, holistic approach to choosing an MBA business school may be foreshadowing a future whereby even the teaching itself will need to be adapted to meet students’ needs and the demands of a cut-throat market. Overall, it may well be the case that applicants are looking beyond rankings and comparison tables when determining their own MBA education; nevertheless, they do still fulfil a role within the employment market and are ignored at the candidate’s own risk, as detailed in a recent article. For business schools to remain competitive and to reach out through the proper channels, it is now imperative that they do not only focus on the university’s research department; rather, they should flesh out exactly which criteria top candidates deem important when applying for their courses.
APPLICANTS ARE LOOKING BEYOND RANKINGS AND COMPARISON TABLES WHEN DETERMINING THEIR OWN MBA EDUCATION
Inside MBA
24
MBA helpdesk
How to research MBA programmes Text: Emma Yip Image: iStockphoto
I really want to get an MBA but I am not sure which programme is suitable for me. Where is the best place for me to find out more about different MBA programmes around the world? I am quite open in terms of geographical locations and the types of programmes. Emma: Remember the days when you researched graduate programmes by checking out the two-inch thick manual “Best 100 MBA programmes” from the library? Or by signing up for various MBA fairs and road shows held around the country? Gone are those days! We are seeing more and more MBA programmes launching exclusive marketing and admissions events online – chats with admission officers, blogs from current students, online sample classes – to help candidates from all over the world learn more about their programme. It’s convenient and the information is timely. In addition, many online forums and websites, such as Vault.com and Poets & Quants, offer updates and interesting articles about the latest developments in many top MBA programmes. Online forums are a great venue to learn more about different perspectives on various programmes – with the caveat that most active forum contributors are either big fans of the school or highly disgruntled students or alumni. So it is important to put things in perspective when evaluating the validity of the comments. Once you have narrowed down your choices, and if your resources allow, it is always a good idea to pay a visit to the school itself before you apply. Nothing can replace a personal visit to the school, sitting in a sample class, and talking (in person) with current students. Have fun researching!
Emma Yip has worked in admissions teams in top business schools across the US, Europe and Asia.
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Gin is back in demand at bars in Hong Kong and beyond
There used to be a curious visual prejudice when it came to alcohol. Whiskies and brandies, rich and lusty in their swirling amber hues, were the tipples of choice for many, while wines in ruby red or liquid gold were popular everyday drinks - leaving white spirits such as gin to literally pale in comparison. Not that we need any encouragement to add another spirit to our liquid arsenal, but gin – previously banished to the dusty shelves of past generations – has experienced a refreshing revival in recent years. Its exploding popularity has led to an increasing number of bars dedicated to the spirit, and to impressive flavour infusions and the creation of more nuanced varieties of tonic, known as gin’s best friend.
Text: Jacqueline Tsang Photo: May Tse
“In many ways, this is the most exciting time in history for gin and gin drinkers,” says Erik Holzherr, who goes by the moniker “The Gintender” and owns three bars in Washington DC. “I have been into gin as long as I can remember, and we stock more than 90 different brands. But it wasn’t until the last two years that I’ve noticed an increased excitement and demand for the spirit.” He attributes this to the booming cocktail culture and to the emergence of a new generation of drinkers. “[These] newer, young drinkers are embracing change and doing what many generations tend to do – [which is] everything possible to avoid their parents’ style and culture, which includes their negative views of gin,” he says. “In some ways, this gin resurgence is a rebellion of values and style.” This phenomenon has certainly not been confined to Western shores. Hong Kong-based mixologist Antonio Lai, the owner and consultant of Quinary and Origin – the latter of which is one of the top gin bars in the city – says local demand for the spirit was only a couple of years behind Europe, and that curiosity was the most significant element behind it. “More of our customers, who were familiar with gin and tonics, became very curious about the ingredients and different styles of gins, and some of them started trying gin on the rocks and eventually just a small cube of ice or a dash of tonic,” he says. “But some of the time, we found that just introducing the spirit to non-gin drinkers was fairly difficult. To ease them in, we made some creative cocktails to entice the beginners.” Lai is a firm believer in pushing the limits, and as of the end of last year, Origin was still the only bar in Hong Kong with its own gin . Origin has more than a dozen in-house blends – the result of Lai’s never-ending experiments in which he redistills gins with a variety of ingredients ranging from pandan leaf, shiso leaf and lemongrass to basil, lemon peel and cucumber. “Not all combinations work,” he says. Lychee, a popular ingredient in local drinks and cocktails, was a disaster, as was banana. “The flavours fought together and didn’t produce a good end result.” The endless combinations of flavours have proven to be instrumental in building a growing population of gin aficionados. The spirit differs greatly from vodka in that vodka disappears into a cocktail
The Ginelicious cocktail at Ozone Bar.
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while gin accentuates it, says Holzherr, who claims it’s his “personal mission to convert vodka drinkers to gin drinkers”. The distinct character of gin is something that Teresa Moon is familiar with. The mixologist and assistant manager at Ozone, The Ritz-Carlton Hong Kong’s 118th-floor bar, grew up in Spain, where gin is a popular drink of choice. She has made a careful study of the different characteristics of the spirit, and one of her recent cocktail creations, 24 Reasons, was awarded second runner-up at the Beefeater 24 Global Bartender Competition last year. “It could be a hot summer’s day, for example, and I would crave a cocktail made with G’Vine, a flowery, fresh gin, whereas on a bitterly cold night I might want a martini made with a strong, hearty gin like Monkey 47, which would certainly warm me up,” she says. “People are describing gins with as much depth as they do with whiskies, and they’re starting to differentiate between tonics as well.” She points out how as people grow increasingly attuned to the subtle nuances of gin, they’re also paying more attention to what tonics should be paired with the spirit. Ozone, for example, has a menu for tonic waters, with varieties from Britain, the US and Japan, and an in-house blend. The descriptions read like wine-tasting notes: “herbal and aromatic”, “sharp and clean”, “delicate and soft”.
Moon’s 24 Reasons cocktail
The pairing of ingredients with premium gins is a subtle skill, so there is such a thing as going overboard. “When I find a gin that impresses me, I try not to doctor it up or alter it too much,” Holzherr says. “I believe a good cocktail allows you to taste the individual ingredients used rather than masking those pieces of the puzzle.”
Teresa Moon, Ozone Bar
Moon is of the same ethos, and references her background as a strong influence. “Having come from a culinary background before I started with mixology, I think that if you have a premium ingredient, everything that goes with it should showcase it and not hide it. This follows the Mediterranean philosophy as well, of respecting the ingredient,” she says. Whichever way you look at it, there’s no doubt that something special is happening to the world of gin right now, so the next time you’re out it may be worth it to dip a toe in the juniper berry pool and find out if there’s a variety of the spirit that’s right for you. As Moon puts it: “There’s a different gin for every moment.”
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Star blogger
11 reasons why you didn’t get the job Having run my own business since 1999, I’ve been involved in hundreds of hiring decisions. Right now my firm is working on filling several positions in our Hong Kong office. We have come across many promising candidates in our searches, however for various reasons we never reach out to them. Others whom we contact are never hired. Here are some of the reasons why, even when you are a great candidate for a certain position, you don’t get the job, and what you can learn from the employer’s standpoint to help you find the best career for yourself.
Text: Joshua Steimle Photo: AFP
Why they didn’t contact you 1. They couldn’t find you. Do you have a LinkedIn profile? Is it up to date? Does it include keywords related to your best skills? Or do you have a professional listing on another website that shows up in search engines? If not, how do you expect potential employers to find you? Even if you plan on getting a job through your personal connections, a potential employer who is referred to you will still likely want to learn more about you online before reaching out. Make sure they can find you. 2. Your LinkedIn profile had problems. Common problems with LinkedIn profiles include spelling or grammatical errors, incorrect use of capitalisation, a bad photo, lack of information, or a weak title. If your title uses words like “visionary,” “leader,” or “exceptional” then you’re overdoing it. Just give me the facts about who you are and what you can do. Why they didn’t hire you 1. You didn’t respond quickly. This is my number one tip to make your career skyrocket: always respond quickly when someone contacts you. If not immediately, then as quickly as you possibly can. If a potential employer needs to wait 24 hours every time they email you in order to get a response, they will assume you’re going to be hard to work with on anything that’s time sensitive. 2. You were late to the interview. Don’t show up an hour early, but also don’t show up five minutes late. The message this sends is “my time is more important than yours,” and that message won’t impress anyone. 3. You didn’t interview well. Be ready to take notes. Have questions prepared ahead of time. Don’t wing it. This is a big deal. If it’s not a big deal to you, this will show through loud and clear to the potential employer, who will wonder why you’re wasting their time.
THIS IS MY NUMBER ONE TIP TO MAKE YOUR CAREER SKYROCKET: ALWAYS RESPOND QUICKLY WHEN SOMEONE CONTACTS YOU
4. Your appearance was distracting. Most people I interview dress and groom appropriately. But occasionally someone’s teeth are crooked and brown, or they have lots of hair growing out of their ears. It’s not so much about looking a certain way, but if something about your appearance is distracting, the potential employer won’t be able to listen as well to anything else you have to say. 5. You smelled bad. Who wants to work with someone who has bad breath or strong body odour? Take a good shower, use anti-perspirant, brush your teeth, and use mouthwash. If you smoke, then you’re at a double the disadvantage, because not Inside MBA
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Star blogger only is it hard to hide the odour, but smoking has been shown to damage your ability to sense other odours.
6. You lacked confidence. Being desperate for a job displays a lack of confidence. Being willing to turn it down because it’s not the right fit shows confidence. This doesn’t mean being snooty, it means knowing what you’re good at and what you want, while still being polite. For more on understanding what confidence is and how to develop and display it, I recommend the books The charisma myth: How anyone can master the art and science of personal magnetism by Olivia Fox Cabane, and The power of self-confidence: Become unstoppable, irresistible, and unafraid in every area of your life by Brian Tracy. 7. You were arrogant. There is no balance between self-confidence and arrogance – they are two entirely separate things. Arrogance is pride. It’s viewing yourself in relative, subjective terms, rather than working to be objective about your skills and abilities. The antidote to arrogance is humility, which is seeing yourself as you truly are. 8. You were negative. Don’t badmouth anyone. Not employers, not co-workers, not even the competitors of the company with whom you’re having an interview. When you’re negative, you stir up negative emotions in the person interviewing you. More critically, you may make them see you as a potential liability since many people who are negative tend to be negative no matter what job they take. 9. You didn’t follow up. If you want to work at a certain company, don’t ever assume you didn’t get the job until they tell you so. More than once I’ve wanted to hire someone, but I got busy and wasn’t able to get back to them as quickly as I wanted to. By the time I did, they had taken a job elsewhere. Then they told me they wanted to work at my company, but they thought I wasn’t interested. Notice what is not mentioned here – the resume, or CV. I never ask for one. I haven’t asked for one in years. If someone doesn’t have a LinkedIn profile they’re years behind the times, in my opinion, and I’m not interested in hiring them. Remember that your skills, abilities, and personality make you uniquely suited for some jobs, but not others. It doesn’t help you to take a job that isn’t an ideal fit when there are so many jobs available which might be better for you. Don’t settle for a job just because you need one, keep looking for a job you’ll love and developing the traits that will help you get it.
IF YOU WANT TO WORK AT A CERTAIN COMPANY, DON’T EVER ASSUME YOU DIDN’T GET THE JOB UNTIL THEY TELL YOU SO
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