Annual Report 2013: Leading from Asia by NUSBizSchool

NATIONAL UNIVERSITY OF SINGAPORE BUSINESS SCHOOL

LEADING FROM ASIA ANNUAL REPORT 2013

LEADING FROM ASIA

CONTENTS 01 02 04 08 12 20 22 26 28 30 38 40 42 Vision, Mission, Values

Dean’s Message

Year in Review

Beyond the Classroom

At the Helm

Meet the Faculty

Academic Focus

Executive Education

Career Services

Research to Practice

Ties that Bind

On Cover (left to right): Patrick Meyer (The NUS MBA) President, Social and Recreation Club Cheryl Ang Liping (The NUS BBA) Director (Publicity & Publications), NUS Students’ Business Club Ng Wei Jian (The NUS BBA) Vice President (Student Life), NUS Students’ Business Club Serene Chia (NUS MBA-Peking University Double-Degree MBA) Ex-Co, NUS MBA Alumni Relations Team

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

Giving Matters

Newsworthy

VISION

To be the leading business school in Asia, globally recognised for excellence in education and research

MISSION

To advance knowledge and develop leaders so as to serve business and society

VALUES Excellence

We strive to deliver the best in teaching, research and service Integrity We uphold the highest moral and ethical principles Innovation We embody curiosity, ingenuity and enterprise Teamwork We respect and inspire one another in our collective endeavours Care We serve our community and safeguard the environment LEADING FROM ASIA

DEAN’S MESSAGE

LEADING STRATEGY LEADING FROM ASIA Asia has shown remarkable and resilient growth that continues to power the global economy. In this ‘Asian Century’, NUS Business School has a role to play in the region’s development. It’s our ambition to lead from Asia and to achieve that goal, we are striving to advance knowledge and develop leaders with the capabilities and values the region will require in the coming decades.

LEADING FROM THE HEART We relentlessly pursue knowledge for its potential value to society. Our faculty produce widely-cited research with business relevance and evidence of the School’s intellectual intensity can be seen in the faculty’s passionate participation in the events we stage, whether they be research seminars, discussions or dialogues. Our research centres also attract the attention of both industry and government for successfully bridging academia and practice. As we strive for excellence in our research, we also seek to enhance the classroom experience. The Teaching Excellence Council, or TEC, was formed in May 2013 to enable the sharing of best practices and ideas among faculty members, while at the same time promoting an ethos of devotion and care in teaching. Among the initiatives introduced is a faculty mentorship programme with in-depth class visits to enable the sharing and exchange of teaching methods, plus teaching workshops. We are also trying to instil a sense of passion in our students. While a degree from NUS Business School is a coveted qualification, we want our graduates to aspire to more than just high-paying jobs. We want them to develop strong analytical and executive skills, practise quality judgment and be effective leaders who will help steer Asia’s future. To this end, and as part of our mission to build links with industry, we invite highly-respected business leaders to come to the School to interact with the students in forums such as lectures or dialogue sessions. In doing so, our students are able to appreciate that, even when presented with a moral dilemma, leaders have to make hard choices that reflect their conscience.

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

In addition, at both undergraduate and graduate level, students work closely with local and multinational companies on management practicums or field study projects which enable our students to bridge the gap between academic learning and real-world practice, and allow them to contribute to business and industry even before they leave with a degree. In short, we want to build a community with strong, shared values, a community that cares. For this to be a reality, we are actively building an inclusive environment in which everyone – from faculty to staff to students – has a role to play. In August 2012, we formed the Branding and Development Council to drive the process of integrating the School’s core values in our day-to-day organisational culture. Apart from organising interactive townhalls as an open platform for faculty and staff to share ideas and concerns, the BDC acts as the crucial bridge between faculty, staff and the deanery. This, to me, is what the spirit of NUS Business School is all about and it is embodied in our core values of excellence, integrity, innovation, teamwork and care.

LEADING TO GREATER GOOD ‘Leading from Asia’ defines what we do, how we do it and why we do it. We are proud to be ranked among the best, both in the region and globally. But looking back on the past year, what really counted above and beyond our pursuit of excellence is how we had come together as a community that shared a common vision of wanting to make a difference. In the spirit that enables us to lead from Asia, we look ahead to generating relevant business solutions that will positively impact the world.

u Scan QR code for video on our Core Values

Sincerely

Bernard Yeung Dean & Stephen Riady Distinguished Professor

LEADING FROM ASIA

YEAR IN REVIEW

BLAZING A TRAIL

CEREBRATION 2013

$20,000

It has been an exciting year for the School with significant milestones that continue to affirm our leadership position as one of the best business schools in Asia. We have initiated many ‘firsts’ with new programmes and industry collaborations, and hosted world-renowned speakers and leaders. We could go on, but we’ll let the figures tell the story. We believe that everything big starts small. A good idea that takes root can grow into something phenomenal. The School’s efforts in hosting key events over the past few years have significantly raised its profile and drawn increasing participation locally and internationally. Here are some of the year’s highlights.

300

WEE CHO YAW FORUM 2013

PARTICIPANTS

IN PRIZE MONEY

Cerebration 2013 in November saw intense competition from over 650 teams comprising some of the most innovative business school students from around the world. Now in its ninth year, the global competition has become one of the world’s leading MBA-level business case challenges attracting wide international interest, including submissions from more than half of the top 50 business schools listed in the Financial Times’ Global MBA Rankings. Team UNCYYM from The University of North Carolina’s Kenan-Flagler Business School took the top prize of $10,000 with its productivity-enhancing proposal on personal mobility.

“ We are honoured to be able to host the best minds from business schools around the world and give them a platform to develop solutions to some of the issues facing businesses, society and emerging economies today.” Alejandro Uribe, NUS MBA candidate and Team Lead, NUS Cerebration 2013 organising team.

u Scan for video

The fifth Wee Cho Yaw Finance and Banking Forum was held in Shanghai at the end of July, attended by some 300 NUS alumni and participants from the finance industry. Organised by the Centre for Asset Management Research and Investments (CAMRI), the session explored the challenges and opportunities faced by China’s asset management industry. Discussions moderated by CAMRI Director Professor Joseph Cherian centred around the exponential growth of this sector and its implications for asset managers and investors in Asia, particularly in Singapore and China.

u For video on NUS Cerebration

652

TOTAL NUMBER OF TEAMS

1796

MBA STUDENTS

302

BUSINESS PLAN SUBMISSIONS

117 28 SCHOOLS

SCHOOLS FROM THE FT TOP 50

COUNTRIES REPRESENTED, INCLUDING UNITED STATES, NICARAGUA, TURKEY, INDIA, CHINA AND SPAIN

COMMENCEMENT 2013 As the class of 2013 marked a new milestone in their academic journey, it was clear that the lessons closest to their hearts went beyond classroom learning. u For video on “ What I really found fascinating about the programme was the peer-level interaction with classmates coming from different countries, the exchange of ideas and understanding of current management challenges and how to best overcome them.”

FORMATION OF ABFER

LARGEST ECONOMIC RESEARCH ORGANISATION IN ASIA

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

The School hosted the inaugural conference of the Asian Bureau of Finance and Economic Research (ABFER) in May 2013. ABFER is an initiative backed by prominent academics in North America, Europe and the Asia-Pacific region, including leading professors from NUS, INSEAD, Chicago, NTU and SMU. Its aim is to promote research into finance and economic issues relevant to Asia and provide an intellectual boost to the local financial sector. Dean Bernard Yeung of NUS Business School and Dean Ilian Mihov of INSEAD are, respectively, the President and Vice President of ABFER; Randall Morck, our James Riady Distinguished Visiting Professor is also a Vice President. NUS President Tan Chorh Chuan chairs the body’s Advisory Council comprised of prominent public sector leaders, a CEO and a Nobel laureate. ABFER will host the conference in May 2014 and also stage an Asian Monetary Policy Forum that month.

Commencement 2013

Nikhil Aggarwal, UCLA – NUS Executive MBA

“ These few years really opened my eyes to many new things. I got to travel a lot, meet many people, experience different cultures and that really directed me towards what I want to do in my career.” Han Yi Chou, Valedictorian, The NUS BBA

“ Today a new journey starts where we can use all that we’ve learnt during our study here. So I am very happy, very proud to be here today.” Jose Paul Matthew, Valedictorian, The NUS MBA

LEADING FROM ASIA

FORMER PRIME MINISTER VISITS

NUS & IBM ESTABLISH BUSINESS ANALYTICS CENTRE

Emeritus Senior Minister (ESM) Goh Chok Tong visited the School on November 22. Mr Goh was briefed by Dean Bernard Yeung and members of the Asia Centre for Social Entrepreneurship and Philanthropy (ACSEP) on ACSEP’s development and research work. Also at the meeting were Paul Cheung, Professor of Social Policy and Analytics at NUS; Ivan Png, Lim Kim San Professor of Strategy & Policy; and Associate Dean Tay Kuan Ming.

OVER

IN FIRST INTAKE

$1b

POTENTIAL VALUEADD TO SINGAPORE’S ECONOMY BY 2017

2,500 BIZAD CHARITY RUN 2013

1000 $175,000 SIGN-UPS

INAUGURAL RACE AROUND NUS

New records were set in January at the third annual Bizad Charity Run organised by the NUS Business School Alumni Association and GANO, and supported by Bizad Club, MBA Alumni-NUS and the Mandarin Alumni Association. We set out to raise $100,000 and ended the day with a record collection that surpassed the previous year’s amount by 250%! We even broke event records for the number of participants. The year of firsts also saw the first ever competitive 10km race around NUS, in addition to the 5km fun run and a 3km special run for the wheelchair-bound.

As the School continues to attract top calibre educators, collaborators and students, we know we are doing our job well. If we happen to make history, it’s a bonus.

WINNER FROM AN ASIAN INSTITUTE

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

DEAN BERNARD YEUNG WINS IRWIN OUTSTANDING EDUCATOR AWARD

Industries Represented

Age Distrubution

‘BIG DATA’ VACANCIES TO BE FILLED IN 2015

1st

IN SINGAPORE TO INTEGRATE TRAINING IN DEEP BUSINESS STRATEGY THINKING AND DATA ANALYTICS TECHNOLOGIES

50% Engineering 25% Business 13% Science /

28% Information

Technology and Telecommunication

Mathematics

12% Computing / Information System

RECORD AMOUNT RAISED

10km

MULTI-DISCIPLINARY DATA ANALYTICS PROFESSIONALS BY 2017

2.9m

Educational Background

26% Banking, Financial and Insurancerelated services

62% <30 17% 30 > 35 12% 35 > 40 6% 40 > 45 3% More than 45

8% Government 6% Electronics 5% Manufacturing 27% Others

According to IT research company Gartner, 4.4 million jobs will be created globally by 2015 to support ‘Big Data’ but only a third of the jobs will be filled. To meet this demand, NUS and IBM jointly established the NUS Business Analytics Centre with support from the Singapore Economic Development Board (EDB) to help students and mid-career professionals gain the latest skills in business analytics and prepare them for high value jobs in the future. The Centre’s new one-year Master of Science degree programme in Business Analytics (NUS MSBA) was launched in August. Under the collaboration, NUS Business School and the School of Computing will work together to develop the academic curriculum and provide teaching support, while IBM provides industry expertise and access to analytics technology and solutions.

FORMER CAPITALAND CHIEF LIEW MUN LEONG JOINS NUS Founding President and CEO of CapitaLand Group, Liew Mun Leong, was appointed in April as Provost’s Chair Professor (Practice) in both NUS Business School and the Faculty of Engineering. Professor Liew is no stranger to accolades, having been previously named ‘Asia’s Best Executive’ and ‘Best CEO in Singapore’. In his new role, he shares lessons in management and leadership with undergraduate and postgraduate classes, and works with faculty on research and the development of business case studies.

Dean and Stephen Riady Professor Bernard Yeung won the prestigious Irwin Outstanding Educator Award, becoming the first person from an Asian institution in the 26-year history of the award to receive the honour. Seen as an illustrious accolade in business education, it is conferred by the Business Policy and Strategy (BPS) Division of the Academy of Management in the US. The award honours each year an eminent strategy scholar who has established a longstanding commitment to, and expertise in, imparting strategic management knowledge or educating others about strategic management.

Reflecting on this, Professor Yeung says: “I feel very humbled and honoured, but I also feel I was very lucky to have all these people to work with – my former supervisors, my peers, my students”.

For the full list of rankings, turn to page 42.

“ (Mun Leong) is one of Asia’s most prominent business leaders and …. he has helped develop Singapore into a thriving international business centre. I am confident that he will have valuable business insights to share.” Dean and Stephen Riady Prof Bernard Yeung

#1 may be just a number but it says a lot about what we are doing right. NUS

#1 #1

YEARS IN THE PUBLIC SERVICE, NOTABLY DEVELOPING CHANGI AIRPORT

YEARS LEADING AND DIRECTING PUBLICLISTED COMPANIES CAPITALAND OPERATES IN OVER

COUNTRIES AND HIRES MORE THAN

12,000 STAFF

NUS Business School University in Asia (Quacquarelli Symonds World University Rankings 2013/2014) University in Asia (QS World University Rankings by Subject, 2013)

#1 #1

Business school in Far East Asia (Eduniversal’s 2013 Business Schools Ranking) Non-US institution (Princeton Review, Oct 2013)

LEADING FROM ASIA

BEYOND THE CLASSROOM

ENGAGING INDUSTRY Throughout the year, we have played host to the region’s top business leaders. We believe that the best way to get inspired is to learn from those who represent the best in industry.

CORPORATE ENGAGEMENT The Strategic Management team has made significant strides in engaging the corporate world, having developed more than 30 business partnerships with leading global and regional organisations since 2010. Our collaborations with leading organisations are all-encompassing, ranging from faculty research, case studies, dialogue series, roundtable discussions to student internships, management practicums and graduate hiring.

Leadership Learning We believe that learning never stops. These informal lunch sessions with industry leaders help enhance the management capabilities of the School’s leadership and equip them with the skills to manage change and inculcate a culture that supports the School’s vision, mission and core values.

Leadership Insights CAMRI organised a public lecture by Nobel Prize-winning economist Robert C. Merton which drew 200 attendees. In his talk, Dr Merton spoke about the vulnerabilities in financial markets that are potentially exposed in a globalised economy.

u Watch Nobel

BUSINESS PARTNERSHIPS Strong collaborations with industry leaders, aligned with our strategic growth in Asia, ensure that our curriculum remains relevant in a changing world.

uM ichael Zink on the leadership qualities needed in uncertain economic times

• Development of a joint curriculum with Citi Global Transaction Services (GTS) on Transaction Banking, the first of its kind, where both Citi’s executives and our professors co-lecture the modules. • Signing of a Memorandum of Understanding (MOU) with a global leader in life insurance to collaborate on various faculty research and student projects.

Michael Zink, Head of ASEAN Countries at Citigroup

THE SPEAKERS SERIES Playing host to these distinguished guests allowed corporate executives, alumni, faculty, staff and students to gain deeper insight into the workings of top minds in leading organisations and also helped to raise the stature of the school in the business community.

uW atch interview with S Dhanabalan on leadership

Leadership Dialogue Ambassador Linda Tsao Yang, Chair, Asian Corporate Governance Association, presented her views on challenges in corporate disclosure in Asia.

laureate Robert C. Merton’s public lecture on managing macrofinancial risks

andarin Management Forum 2013: M Feng Lun on Leadership Styles in Singapore and China Dr Feng Lun, Chairman of Vantone Holdings and Chairman of World Future Foundation, shared with a 300-strong audience his observations of the differences between entrepreneurs in Singapore and China. The forum was organised by NUS Business School Mandarin Alumni, supported by Global Alumni Network Office (GANO), and moderated by Dr Lan Luh Luh, Associate Dean for Executive Education.

S Dhananbalan of Temasek Holdings

u Watch our talk with Ambassador Linda Tsao Yang

uW atch

Wu Xiaobo, a well-known financial author in China, talked about the past and future of Chinese Enterprises. u For more on Wu Xiaobo’s talk

Liew Mun Leong, Founding President & CEO of CapitaLand Group

Samuel Tsien, Group CEO, OCBC Bank, shared his views and experience on helping employees venture abroad.

interview with Liew Mun Leong on building people the ‘CapitaLand way’

uW atch talk by Navtej S. Nandra on the outlook for financial markets Navtej S. Nandra, President of E*TRADE Financial Corporation

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

GOING GLOBAL The International Relations office works to enhance the School’s international academic reputation through maintaining its outstanding performance, and hosting and mentoring delegations from schools around the world. • AACSB and EQUIS accreditations successfully retained for another five years • NUS Business School elected as Partnership in International Management (PIM) Chair for Asia and Asia Pacific Region for 2014-2016

TAKING THE LEAD • Hosting International Conferences • October 2012 GMAC Asia Pacific Conference • March 2013 EFMD International Dean’s Programme • May 2013 Workshop for 25 China University Deans and Associate Deans • May 2013 Inaugural Conference for MAS-supported Asian Bureau of Finance and Economic Research (ABFER) • Mentored 13 China Business School faculty since August 2012 as part of the Temasek FoundationChina MBA Schools Dean and Faculty Capacity Building Programme • Hosted learning and collaborative delegations from over 30 schools from Asia, Europe and the Americas. These include Universiti Perlita Harapan, Nagoya University, Shanghai Jiao Tong University, IESE Business School, ESSEC Business School, Copenhagen Business School, London School of Economics, George Washington University and University of Toronto, among others.

GREATER INTERNATIONAL EXPERIENCE New student exchange agreements with Yale and Indiana (US), Koc (Turkey), Nagoya (Japan), FGV (Brazil), ESSEC (France), University of Ljubljana (Slovenia), BI Norwegian Business School (Norway), LBS (London), Rotterdam School of Management and Erasmus University (The Netherlands).

24% 54%

BBAS ON EXCHANGE INCREASED BY

(398 PARTICIPANTS) FROM 2012

MBAS ON EXCHANGE INCREASED BY

(86 PARTICIPANTS) FROM 2012

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

AT THE HELM

RAISING THE BAR Under the guidance of the Management Advisory Board (MAB), the School has made great strides in boosting its standing in the global league. Established in July 2009, the MAB comprises senior business leaders and ex-public officials appointed by the NUS President. It provides invaluable inputs into the School’s strategies and advises on the quality, relevance and rigour of the School’s education and programmes. In addition, as an advocate for the School, it assists and promotes the School in building its reputation.

CHAIRMAN S Dhanabalan

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

DEPUTY CHAIRMAN Hsieh Fu Hua

LEADING FROM ASIA

MANAGEMENT ADVISORY BOARD

MEMBERS

CHAIRMAN S Dhanabalan

DEPUTY CHAIRMAN Hsieh Fu Hua

Dr William Fung

Liew Mun Leong

Hsieh Tsun-Yan

Group Chairman, Li & Fung Ltd

Honorary Advisor, Temasek Holdings (Pte) Ltd

Non-executive Chairman, United Overseas Bank

Founding President & CEO, CapitaLand Group (1996 – 2012)

Chairman and Lead Counsellor, LinHart Group

Member, Council of Presidential Advisors

Chairman, Stewardship & Corporate Governance Centre

Chairman, Changi Airport Group (Singapore) Pte Ltd, Surbana International Consultants Holdings Pte Ltd, Pavilion Gas Pte Ltd and China Club Investments Pte Ltd

Independent Director, Singapore Airlines Ltd, Sony Corp, Bharti Airtel Ltd and Manulife Financial

Member, Presidential Council for Minority Rights Alumnus, NUS

President, National Council of Social Service Independent Non-executive Director, ICAP plc & Tiger Airways

Independent Director, Singapore Airlines Ltd Independent Non-Executive Director, Shui On Land Ltd, Sun Hung Kai Properties Ltd, The Hong Kong and Shanghai Hotels Ltd and VTech Holdings Ltd

Co-Founder and Adviser, PrimePartners Group of Companies

Director, Singapore Exchange Ltd, Singapore China Foundation, Pavilion Energy Pte Ltd, CapitaLand Hope Foundation, Human Capital Leadership Institute Board Member, Centre for Liveable Cities

Deputy Chairman, The National Art Gallery of Singapore

Board of Trustees, Chinese Development Assistance Council

Honorary Chairman, Securities Investors Association (Singapore)

Governor, Singapore International Foundation Provost’s Chair Professor of Management, NUS Business School Adjunct Professor of Leadership, Lee Kuan Yew School of Public Policy Member, Institute of Policy Studies Academic Panel

Provost’s Chair and Professor (Practice) in the Department of Management and Organisation, NUS Business School and the Department of Engineering & Technology Management, Faculty of Engineering

Alumnus, NUS Business School

Alumnus, NUS

Euleen Goh Chairman, Board of Governors, Singapore International Foundation Chairman, Singapore Chinese Girls’ School and Chairperson, Board of Governors, NorthLight School Non-Executive Director, CapitaLand Limited, DBS Bank Ltd, DBS Group Holdings Ltd and SATS Ltd Trustee, Singapore Institute of International Affairs Endowment Fund

Tan Soo Jin Managing Partner, Leadership Consulting, Amrop/Gattie-Tan Soo Jin Management Consultants Pte Ltd Executive-In-Residence, NUS Business School Vice Chairman, Governing Council, Singapore Institute of Management

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

AT THE HELM

LEADING IN ACTION A good leader seeks to change things for the better. A great one inspires others to work towards this shared vision. Under the leadership of the Dean and our various heads of departments, the School is focused on nurturing a creative climate and an environment of mutual respect. Together, we work towards producing intelligent, caring, and enterprising business leaders that can benefit business and society.

DEANERY Left to right Assoc Prof Hum Sin Hoon Deputy Dean Assoc Prof Chng Chee Keong Vice-Dean (Undergraduate Studies) Bernard Yeung Dean and Stephen Riady Professor Assoc Prof Susanna Leong Vice-Dean (Graduate Studies) Assoc Prof Trichy V. Krishnan Vice-Dean (PhD & Research) ay Kuan Ming T Associate Dean (Administration)

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

ACADEMIC HEADS Left to right Assoc Prof Anand Srinivasan Finance Prof Lim Chin Strategy & Policy

ACADEMIC HEADS CENTRE DIRECTORS

Left to right Assoc Prof Left to Srinivasan right Anand A ssoc Prof Decision Sciences Lam Swee Sum Director Prof Lim Chin ASIA CENTRE FOR SOCIAL Strategy & Policy ENTREPRENEURSHIP & PHILANTHROPY (ACSEP) Assoc Prof

Prof Teo Chung Piaw Decision Sciences

Ho Yew Kee Prof Joseph Cherian Accounting Director CENTRE Prof FOR ASSET MANAGEMENT Teo Chung Piaw RESEARCH & INVESTMENTS Decision Sciences (CAMRI)

Prof Richard Arvey Management & Organisation

Prof Chang RichardSea-Jin Arvey Prof Management & Executive Director Organisation CENTRE FOR GOVERNANCE,

Prof Ho Yew Kee Accounting

Assoc Prof Lee Yih Hwai Marketing

INSTITUTIONS & Assoc Prof ORGANISATIONS (CGIO)

Lee Yih Hwai Not in picture Marketing Prof Ho Teck Hua Director

CENTRE FOR BEHAVIOURAL ECONOMICS (CBE)

ADMINISTRATIVE DIRECTORS Left to right Joan Tay Executive Director Deanâ&#x20AC;&#x2122;s Office Dr Helen Chai Assistant Dean/ Director BBA Office Ng Pheck Choo Director Global Alumni Network Office (GANO) Simon Woo Assoc Director IT & AV unit Liang Bo Assoc Director Development Office Wang Wai Yee Senior Assoc Director Career Services

Left to right Lim Yue Wen Director International Relations & GANO Azmi bin Salleh Senior Assoc Director Facilities & Operations Stuart Pallister Director Corporate Communications Phyllis Kum Financial Controller/ Deputy Director Finance & Administration Nigel Yeung Executive Director Executive Education Not in picture

Chua Nan Sze, Marie-Antonie Director Graduate Studies

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

MEET THE FACULTY

ATTRACTING TOP TALENT Our global approach to teaching and research, complete with state-of-the-art facilities, attracts candidates who are truly world-class.

“ I really enjoyed my stay here for the past five years. I benefited a lot from the PhD courses, the discussions and the interactions with the professors, as well as the other PhD students.” Cheng Si, Doctor of Philosophy, Class of 2013

“ NUS Business School has a vibrant research atmosphere, strong research culture and a solid infrastructure, including world-class IT facilities, deep financial support, access to global information and databases, and top quality faculty with impressive track records.” Professor Trichy V.Krishnan (Vice-Dean, Research)

OUTSTANDING RESEARCHER Associate Professor Sumit Agarwal won the School’s Outstanding Researcher Award. Also a nominee for Outstanding Researcher at university level, Sumit is a well-known expert in finance, particularly the financial issues consumers face. He has been cited widely and produced five Tier-1 papers since joining us two years ago, a feat that puts him on par with the best researchers in the field.

Research Productivity Tier 1 & Tier 2 publications by our faculty (in print and accepted) 1 Aug 2010 to 31 Jul 2013 Department

Tier 1

Tier 2

Total

Accounting

Decision Sciences

Finance

Management & Organisation

Marketing

Strategy and Policy

GLOBAL FACULTY

OUTSTANDING EDUCATORS Eight of our outstanding educators have won the School’s Teaching Awards, which recognise faculty members for their exceptional commitment to good teaching. Assoc Prof Kwok Chee Chiu, Winston Department of Accounting

CANADIAN 2 0 1 0 7 0

Assoc Prof Chou Cheng-Feng, Mabel Department of Decision Sciences Dr Lee Hon Sing Department of Finance

AMERICAN 1 0 1 0 12 1

Assoc Prof Yeo Wee Yong Department of Finance Dr Sandy Lim Geok Peng Department of Management & Organisation

FINNISH 1 1 IRISH 1 1 GERMAN 3 0 DUTCH 1 1 2 1

INDIAN 3 0 4 1

PORTUGUESE 1 0

Assoc Prof Ang Swee Hoon Department of Marketing

THAI 1 0 1 0

Outstanding Educator Award (School Level) for Academic Year 12/13.

TAIWANESE 1 0 5 0 HONG KONG 3 0

Dr Tambyah Siok Kuan Department of Marketing Assoc Prof Marleen Dieleman Department of Strategy & Policy

SOUTH KOREAN 1 0

CHINESE 24 1

Total as at 5 Dec 2013 New additions since 1 Jan 2013 PRACTICE TRACK 12 1

MAURITIAN 1 1

SINGAPOREAN 6 1 21 3 39 0

MALAYSIAN 1 0 1 0 3 1

FILIPINO 1 0

AUSTRALIAN 1 0

TEACHING TRACK (LECTURER & ABOVE) 30 4 TENURE TRACK 112 7 GRAND TOTAL 152 12

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

ACADEMIC FOCUS – UNDERGRADUATE ACHIEVEMENTS

NUS OPEN DAY 2013

16,500

TRAINING THINKERS We empower our students to think outside the box and aim for the stars. If they succeed at what they do, we consider it job satisfaction.

VISITORS

The focus on nurturing ‘ACE’ students – Analytical, Caring and Enterprising leaders who serve business and society – drew many prospective students to our booth on Open Day.

GEORGE YEO SPEAKS TO BBA STUDENTS

$110,000 COLLECTED FOR CHARITY

RAG & FLAG 2013 Bizaders did the School proud by coming top in the most unique float design and Rag performance. They also won the NUS President’s Challenge Shield for their record flag collection of $110,000 in the annual NUSSU Rag Day. This marked the third consecutive year Bizad has emerged Champion in the flag category since 2011.

The former Minister of Foreign Affairs and Member of Parliament spoke at our bi-annual event for Dean’s List recipients. Drawing from his vast experience, Mr Yeo spoke about the changing social and economic environments particularly in China and South East Asia. He discussed the impact this has on Singapore and also shared personal anecdotes from his time as Foreign Minister and his current role as Vice-Chairman of Kerry Group and CEO of Kerry Logistics.

u For photos of the event

PERFORMANCES BY NUS FACULTIES AND HALLS OF RESIDENCES

BUSINESS CASE COMPETITIONS: KEY WINS IN 2013 Our students’ success is our success and their outstanding performances certainly gave a boost to our School brand internationally. Three-time Champions: CBS ICC (Copenhagen Business School, Denmark)

Champions: Belgrade Business International Case Competition (University of Belgrade, Serbia)

Champions: Thammasat Undergraduate Business Challenge 2013 (Thammasat Business School, Thailand)

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

u Watch how BBA undergraduates work together with the best local SMEs

LEADERSHIP TALK BY LIEW MUN LEONG ON 21 AUGUST In a talk, ‘Your Job Makes You’, Provost’s Chair Professor (Practice) Liew Mun Leong stressed to undergraduates in the Leadership Development Programme the importance of being people-oriented. Liew touched on his personal journey that included 42 years of public and private sector leadership, and expounded on his personal credo of building people. The talk was featured by print and radio media.

LEADING FROM ASIA

ACADEMIC FOCUS – GRADUATE NEWS

TRANSFORMING LIVES Employers choose our graduates not just because we rank among the best in Asia, but because we continually strive for excellence.

GRADUATE STUDIES INTAKE - THE NUS MBA (2013) Distribution of nationalities for

full-time and

LATEST GLOBAL MBA & EXECUTIVE MBA RANKINGS

part-time MBAs

Brazil

Malaysia

Switzerland

Canada

Myanmar

Taiwan

China

New Zealand

Thailand

France

Pakistan

Germany

Philippines

India

Singapore

Vietnam

Indonesia

South Korea

Japan

Sri Lanka

GMAT SCORE (FULL TIME / PART TIME) 2013

672 / 637

Total

WORK EXPERIENCE (FULL TIME / PART TIME)

5.3 YEARS / 7.1 YEARS

MBA STUDENT ACHIEVEMENTS

MANAGEMENT PRACTICUM

27 28

Aiming to provide a well-rounded programme for students, the Management Practicum was introduced this year as a compulsory graduation requirement for full-time MBA candidates. The extensive consultancy project allows our MBA students to utilise management skills, and apply concepts and theories acquired in the classroom to real‐life business dilemmas. A total of 55 projects with 35 companies were sourced. From 2014, the practicum will be a compulsory requirement for graduation for both full-time and part-time MBA candidates.

P ROJECTS SOURCED FOR SEMESTER 1

PROJECTS FOR SEMESTER 2

Financial Times Jan 2014 - The NUS MBA Ranked

#32

STUDENT EXCHANGE (FOR 2013)

79 Outgoing 70 Incoming

Forbes Oct 2013 - The NUS MBA

STUDENT TRIPS

India – Delhi & Mumbai Taiwan Spain – Barcelona & Madrid Indonesia China – Beijing & Shanghai Myanmar

for two year International MBA programmes outside USA - (up two spots from previous year)

TOTAL: 91 Students

We are proud of our NUS MBA students who show why they are among the best in Asia. 3 Asia MBA team Cindy Huang Lu, S Kim Taewan, Lee Jun Xian, Terence Chong and Jason Zheng Jinzhen

NUS MBA team Naveen K R, Alfred Emmanuel Awe and Dennis Chu • 4th NUS Asian MBA Stock Pitch Competition Runner-up

• Mai Bangkok Business Challenge Best Business Plan, Best Presentation, and Sasin Alumni Association Most Favourite awards

Financial Times Oct 2013 - UCLA - NUS EMBA Ranked

(2nd year in a row)

• Thammasat Business School’s Asia Venture Challenge Divisional Runner-up and Best Written Plan

President of NUS MBA Student Council 2013 Aditya Kaul (Class of 2014) • 30th Graduate Business Forum, Hyderabad, India Elected Chairman of the President’s Network

NUS MBA candidate Christian Halberg and his team of three undergraduates from the Engineering Faculty • 2013 GlobalTiC Talentpreneur Award & Forum, Taiwan First prize in the Biotechnology Category & Best Exhibition title

Class of 2013, Varun Mittal

• UC Berkeley’s Intel Global Challenge Best Team of Young Entrepreneurs award and cash prize of US$5,000

• 30th Graduate Business Forum, Hyderabad, India Nominated Vice President (Technology and Public Relations)

Financial Times Oct 2013 - Asia Pacific EMBA Ranked

#17

(up nine spots from previous year)

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

Average number of years of work experience

17 18.2 13.5 APEX-E

APEX-C

APEX-ENGLISH

2013

APEX-CHINESE

Management Communications Bootcamp

UCLA - NUS EMBA

Geographic distribution of students from the UCLA – NUS Executive MBA and the Asia Pacific Executive MBA (English) programmes.

UK (1) KENYA (1)

u For video on

UCLA – NUS EMBA

TRULY INTERNATIONAL EMBAs

AUSTRALIA (3)

MANAGEMENT COMMUNICATIONS BOOTCAMP Creative and proactive approaches to business challenges were on full display during the very first bootcamp conducted during The NUS MBA Orientation 2013. This non-credit graduating requirement for the new cohort comprises eight concurrent sections taught by successful business veterans, including Hsieh Tsun-yan, former McKinsey Managing Director (Canada) and the School’s Provost Chair Professor (Practice) of Management and Management Advisory Board member.

GRADUATE STUDIES INTAKE - EXECUTIVE MBAs (2013)

BRAZIL (1)

ITALY (2)

CHINA (1) TAIWAN (1) CHILE (1)

SINGAPORE (26)

INDIA (12)

MALAYSIA (3)

GERMANY (1) THE NETHERLANDS (1) SPAIN (1) DENMARK (2)

INDONESIA (6)

GEORGIA (1) IRELAND (1)

FRANCE (2)

UNITED STATES (9)

JAPAN (3)

CANADA (1)

LEADING FROM ASIA

EXECUTIVE EDUCATION

INSPIRING LEADERS Business leaders understand the need to anticipate change and be prepared for new challenges. The astute ones turn to our executive education and business development programmes.

Number of Participants Open Enrolment Programmes – English Company Specific Programmes – English Open Enrolment Programmes – Mandarin Company Specific Programmes – Mandarin

2013

2012

% Change

607 2,060 102 1,152

482 1,619 64 998

+ 26 + 27 + 59 + 15

Geographical breakdown of Open Enrolment Programmes (English) (2010 - 2013)

4,044 EXECUTIVE PARTICIPANTS

27%

INCREASE FROM LAST YEAR

Sanjay Gattani, Singapore Chief Financial Officer, Tata NYK Shipping

“ Truly global standards with Asian perspectives. Highly recommended.” Daniel Wanma, Papua New Guinea Chief Operating Officer, Air Niugini

“ It was a very enriching experience for me, exchanging many ideas and thoughts with participants from different backgrounds in a very collaborative class.” Reiko Ogata, Japan Chief Consultant, Dentsu, Inc.

“ All the case studies, simulations, exercises and classes were relevant to what we are currently doing. I would highly recommend the course to anyone at the senior level who wants to upgrade their business knowledge.” Ooi Suan Kim, Malaysia Principal, OS Kim & Associates

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

“ The NUS Advanced Management Programme is a ‘must-attend’ for current and future senior leaders.”

SOUTHEAST ASIA, EXCLUDING SINGAPORE

EUROPE

SOUTH ASIA

MIDDLE EAST

EAST ASIA

OCEANIA

THE AMERICAS

AFRICA

SINGAPORE

Note: Figures have been rounded up.

LEADING FROM ASIA

CAREER SERVICES

BBA (ACCOUNTING) EMPLOYMENT BY INDUSTRY

MARKETING A VALUED BRAND

15 2 8 8

ACCOUNTING

FINANCE

EDUCATION

We are a critical touch point between our students and corporate recruiters. We actively facilitate recruitment of our students by global banks, MNCs and other organisations from across industries, and also make available to them career-related seminars and workshops. This ensures our undergraduate and graduates are fully-equipped to attain their aspirations, whatever they might be.

GOVT/ STAT BOARD

HIGH INTERNSHIP PARTICIPATION MBA

BBA

97 90 100 %

TECHNOLOGY

LOGISTICS

CONSULTING

MBA

BBA (HONS)

NETWORKING EVENTS

ENGINEERING/ MANUFACTURING

BBA (ACC)* HONS

92 92.6 96.2

MANUFACTURING

Every year, our flagship student-recruiter networking events bring together hundreds of graduating students and recruiters, with representatives from global financial institutions, MNCs, local SMEs and start-ups.

FINANCIAL SERVICES

GRADUATE EMPLOYMENT

ENERGY/ OIL & GAS

MBA EMPLOYMENT BY INDUSTRY

BBA (ACC)*

MEDIA/ ENTERTAINMENT/ ADVERTISING

OTHERS

* BBA (ACCOUNTING)

PHARMACEUTICAL/ HEALTHCARE/ BIOTECH

CONSUMER PRODUCTS

Relazione 2013, 26 September

183 107

BBA GRADUATING STUDENTS

RECRUITERS FROM 52 GLOBAL INSTITUTIONS

“ Great event! Loads of potential. Good candidate pool to choose from!” Recruiter from a local marketing consultancy firm

BBA EMPLOYMENT BY INDUSTRY

4 4 4

FMCG

HEALTHCARE

ENGINEERING, SHIPPING, MARINE OFFSHORE, REAL ESTATE

OTHERS

GOVT/ NGO/ STAT BOARD/ EDUCATION

ADVERTISING/ MEDIA/ PR, MEDIA

MANUFACTURING/ TECHNOLOGY/ TELECOMMUNICATIONS

ENERGY/ OIL & GAS

FINANCE/ ACCOUNTING

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

TRAVEL/ HOSPITALITY/ F&B/ RETAIL/ MICE

TRANSPORT/ LOGISTICS/ AEROSPACE

Connexions 2013, 9 October

145 100

MBA STUDENTS

REPRESENTATIVES FROM 46 COMPANIES

“ Thanks a lot for your help in engaging the recruiters!” NUS MBA Class of 2014 candidate on Connexions 2013

CONSULTING

LEADING FROM ASIA

RESEARCH TO PRACTICE

TRANSFORMING BUSINESSES We examine how to invest smart, shape behaviour, promote best practices and make the world a better place. Then we do it.

DOING GOOD: ASIA CENTRE FOR SOCIAL ENTREPRENEURSHIP & PHILANTHROPY (ACSEP) ACSEP bridges the gap between those who want to do good and those in need, via research and education. Besides introducing new modules in our BBA programme, we have also organised community outreach programmes and over 25 conferences and seminars. New Initiatives Our new MBA module, Measuring and Improving the Impact of Social Enterprises, is taught by Professor Paul Brest, Professor of Law, Emeritus and Former Dean of Stanford Law School. We have also launched three new BBA Modules: Social Entrepreneurship, Business with a Social Conscience, and Field Service Practicums. ACSEP Philanthropy Seminar: Innovation or Imitation. Does it matter? On 8 May 2013, ACSEP launched ‘Innovation in Asian Philanthropy’, a major new study drawing on 26 case studies from 10 Asian countries to illustrate the diversity of innovation in Asian philanthropy today.

Field Service and Community Outreach On 17 May 2013, students from NUS Business School and Lee Kuan Yew School of Public Policy presented highlights of their consulting assignments with socially-driven organisations (SDOs) in Singapore as part of their field service projects (FSP). The FSPs were guided by ACSEP faculty and the research team. The participating organisations were Singapore Association for Mental Health, Society for the Physically Disabled, Tsao Foundation, and World Toilet Organisation. Additionally, in community outreach across Asia, our interns consulted for Singapore Red Cross and Magic Bus, India. Working Paper Series Two working papers under Entrepreneurial Social Finance series were published: The Emerging Ecosystem of Entrepreneurial Social Finance in Asia, 2nd Edition by Dr Rob John. Innovation in Asian Philanthropy by Dr Rob John and Pauline Tan, with Ken Ito. Charity Governance Awards 2013 The Singapore Red Cross and the Young Men’s Christian Association of Singapore (YMCA) were conferred with top honours at this year’s Charity Governance Awards (CGA), attended by 140 guests from 70 organisations. An initiative of the Charity Council, the CGA honour charities that have adopted the highest standards of governance. ACSEP developed the assessment process and criteria, facilitated the judging process and produced feedback reports for the charities. Special Commendation Awards Winners - The Association of Muslim Professionals (AMP) - The Singapore Indian Development Association (SINDA)

ACSEP Philanthropy Seminar 8 May 2013 The panel of philanthropists and impact investors included Lee Poh Wah, CEO, Lien Foundation, Singapore; Micaela Ratini, Co-founder, Insitor Fund, Cambodia; Vidya Shah, CEO, EdelGive Foundation, India; Tao Ze, Vice President, China Foundation Center, Beijing. ACSEP Visiting Senior Fellow, Dr Rob John, was the moderator.

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

Conferences & Seminars • PRI-NUS Asia-Pacific Forum: Investing for sustainable and long-term returns in the AsiaPacific Region, 20 November ACSEP jointly organised this forum in partnership with the Principles of Responsible Investment, Institute of Real Estate (IRES), and CFA Society Singapore.

Philanthropy to Social Entrepreneurship

Change through Good Governance

Charity Governance Awards

• Philanthropy to Social Entrepreneurship, 25 November Professor Eugene Tempel, Founding Dean, Philanthropy, Public Affairs, and Business, Indiana University (IU)

• LegaleSE, A Legal Handbook for Social Enterprise, 7 December

Professor Tempel discussed the origins of philanthropy and philanthropic trends in the US, including the development of philanthropy to more formal systems, such as social entrepreneurship.

ACSEP contributed an introductory chapter to LegaleSE, which was launched by the Law Society of Singapore Pro Bono Services Office to provide legal guidance to help social entrepreneurs in Singapore. The chapter provided a brief overview of the social enterprise landscape in Singapore and around the world.

• Stimulate, Sustain, Inspire Change through Good Governance, 27 November

• 3rd Funders Roundtable, 3 September Led by Professor Paul Brest

Speakers shared the importance of governance in charities, lessons of good governance practices, and how good governance can be practised and implemented in real life.

The 3rd Funders Roundtable (FRT) focused on the role of information in grant-making. It explored the use of information to create sustainable and effective giving partnerships, and how the process of gathering and sharing information can create a common language that brings greater collaboration and impact.

EVENT ATTENDEES COMPRISED OF SENIOR MANAGEMENT FROM FOUNDATIONS AND GOVERNMENT AGENCIES

LEADING FROM ASIA

MANAGING MONEY: CENTRE FOR ASSET MANAGEMENT RESEARCH AND INVESTMENTS (CAMRI) CAMRI is a leading Asian academic centre that provides a platform for experiential and applied research, education and dialogue on asset management and investments. CAMRI has had a busy year bringing together leaders in industry and academia, launching initiatives and creating more hands-on learning opportunities for students.

u For Smart Finance blog

Experiential & Applied Research CAMRI continues to champion best practices in the industry by contributing articles to its Thought Leadership series and weighing in on life-cycle savings and investing in Asia. Research director Associate Professor Sumit Agarwal also started a widely-read Smart Finance research blog on Think Business. The Centre recently launched a web-enabled Real Retirement Life Income Calculator which helps households estimate the monthly contributions required to ensure a level of real income in retirement that will allow for a dignified standard of living. Impactful Education • CAMRI launched a Live Student Managed Fund in March 2013 supported by a US$2.5m state-ofthe-art investment management and trading lab with 36 Bloomberg & MSCI Barra workstations for students’ and researchers’ use. • Launched the Student Managed Fund (SMF) e-Resume Book and sponsored 15 students for the CAIA Exams in partnership with the Chartered Alternative Investment Analyst (CAIA) Association. Under the partnership, some of our best students in the SMF programme are awarded exam fee waivers and textbook scholarships. Additionally, we issued the inaugural SMF e-Resume Book of our graduating BBA (Hons) students who have either completed or have taken most of the coursework within the CAMRI SMF Track at NUS Business School. This book, which is sent to various Asset Management associations in Singapore, introduces potential employers to our students.

First runners-up from NUS Business School, 4th Annual NUS Asian MBA Stock Pitch Competition, March 2013

u F or NUS Asian MBA Stock Pitch competition 2013

• Eighty students completed the Bloomberg Assessment Test (BAT) in the CAMRI Lab. Two of our students were inducted into the BAT Asia Pacific Hall of Fame for being among the top performers. Industry Outreach • Special Private Equity (PE) Course, involving CAMRI Board Member, Veronica Eng, January 2013 Over 60 attendees comprising MBA students and executives from Temasek, GIC, SGX, Pavilion etc. • CAMRI Lunch Forum with Professor Charles M. C. Lee, January 2013 About 30 attendees attended the invitation-only talk with Professor Charles Lee, the Joseph McDonald Professor of Accounting at the Graduate School of Business, Stanford University.

• The Investments Roundtable A total of 95 academics and senior executives of investment management firms in Asia attended the roundtable moderated by CAMRI director Professor Joseph Cherian. Issues discussed included understanding and predicting liquid and illiquid markets, investment regulations and policies, and portfolio risk management.

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

Hosted industry panel for Asian Bureau of Finance and Economic Research (ABFER), May 2013

• Asset Owners’ Dialogue (AOD) This industry leadership forum provided a confidential and academicallymoderated environment for asset owners from around the world to discuss the latest applied research, share ideas and brainstorm with leaders from the asset owner community and academia. Discussions explored establishing norms, best practices, and where applicable, proposing policies for the asset management industry. The AOD, which was held in Beijing, also saw the launch of the NUS-Cornell Global CIO Academic Survey.

LEADING FROM ASIA

SHAPING BEHAVIOUR: CENTRE FOR BEHAVIOURAL ECONOMICS (CBE) As the first research centre devoted to behavioural economics in Singapore, the CBE puts theories to the test by collaborating with corporations to design programmes to stimulate positive behavioural change. The Centre also organises talks and activities to introduce its latest findings and stimulate discussion.

Talks & Seminars • Incentives and Behaviour Change, 28 May Professor Uri Gneezy, Rady School of Management, University of California, San Diego

Research Collaboration Health Promotion Board (HPB) Since January 2013 Design of intervention programmes to improve participation rates for breast cancer screening programmes and build models to predict their effectiveness Workforce Development Agency (WDA) September 2012 to September 2013 Provided incentives to increase participation in training programmes and completion of courses Ministry of the Environment and Water Resources (MEWR) Since September 2012 Help reduce demand for energy consumption

Economists often emphasise that incentives matter. Who would want to work if they are not paid? Professor Gneezy got people thinking when he highlighted the effect of monetary incentives in fostering desired behaviour in non-employment contexts such as education, public good and lifestyle change.

HabitNUS and ChallengeNUS January to May 2013 In 2013, the CBE launched two websites to help users create and monitor commitments and challenges: • ChallengeNUS – Challenge someone else to change. If they succeed, reward them.

• 4th Behavioural Economics Summer Institute Camp, 22 July to 2 August 2013 40 selected local and overseas graduate students and junior faculty in economics, business, and related disciplines came together to explore the findings and methods of behavioral economics. Professor Vincent Crawford, University of Oxford; Professor David Laibson, Harvard University; and Professor Matthew Rabin, University of California, Berkeley introduced students to the psychological foundations of various economic topics and taught them to apply the concepts to topics such as consumption, savings behaviour, household finance, macroeconomics, and welfare economics.

• HabitNUS – Challenge yourself to change. If you fail, do good by donating time or money. Approximately 150 participants have used HabitNUS to complete challenges set by CBE as part of a study into the effectiveness of financial and other incentives.

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

PROMOTING BEST PRACTICES: CENTRE FOR GOVERNANCE, INSTITUTIONS & ORGANISATIONS (CGIO) With a mission to promote governance and best practices for institutions and organisations, CGIO continues to encourage discussion through conferences and seminars, and steer high-quality research in the areas of listed companies, gender diversity and family businesses

2013 GOVERNANCE & TRANSPARENCY INDEX (GTI), RELEASED 1 AUGUST

INCREASE IN CORPORATE GOVERNANCE FOR TOP-RANKING COMPANIES

INCREASE IN STANDARDS OF CORPORATE GOVERNANCE AND DISCLOSURE PRACTICES WITH MEAN SCORE OF GTI 38.0 (ITS HIGHEST SINCE INCEPTION)

Lawrence Loh

Isabel Sim

Muhammad Ibrahim

Vincent Yang Shaozhen

Launch of Singapore Gender Diversity 2013 Report

Annual GTI Report The annual GTI report, a flagship project of CGIO and now a major corporate governance benchmark in Singapore, attracted attention from the media as well as companies. The GTI is based on a study of annual reports issued by Singapore-listed companies and other publicly-available information.

EVENT HIGHLIGHTS CGIO organised over 20 conferences and seminars featuring top thought leaders.

Gender Diversity in Boardroom CGIO researchers found slow progress in Singapore’s boardroom gender diversity in contrast to regional peers. The study also revealed positive findings for the business case of gender diversity in corporations.

Singapore Board Diversity Report 2013 Time for Women to Rise

By Dr Marleen Dieleman, Dr Meijun Qian and Mr Muhammad Ibrahim

(3RD EDITION, RELEASED 14 NOVEMBER) FEMALE BOARD DIRECTORS

7.9 8.7

% SINGAPORE

% MALAYSIA

SINGAPORE EXCHANGE

11.6 15.8

% INDONESIA

% AUSTRALIA

ASIAN FAMILY FIRMS

(2ND EDITION, RELEASED 30 MAY)

60.8 692

LISTED FIRMS WERE FAMILY BUSINESSES

FAMILY FIRMS OUTPERFORM NONFAMILY FIRMS

3.7 0.9

VS.

% IN RETURNS ON ASSETS

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

ASIAN FAMILY FIRMS

FAMILY FIRMS ARE HIRING MORE PROFESSIONALS TO WORK ALONGSIDE FAMILY MEMBERS IN TOP POSITIONS

Seminar and Book Launch: Government in Business - Friend or Foe? by Lim Hwee Hua, 30 October Former Singapore Second Minister for Finance and Transport Lim Hwee Hua and fellow panellists, consisting of Liew Mun Leong, Chairman of Changi Airport Group, and Mildred Tan, MD of Ernst & Young Advisory, engaged the audience in a lively exchange of views on the government’s role in business and the economy.

CGIO Academic Conference, 27 August Academics from around the world came together to share their insights into State-Owned Enterprises, Political Connection and Sovereign Wealth Funds. Keynote speaker, internationally-renowned Professor Weiying Zhang of Peking University, was followed by a strong line-up of leading academics from both local and overseas institutions presenting their papers.

State-Owned Enterprise Roundtable: What does success look like for State-Owned Firms, 28 August A diverse group of speakers – H.E Dang Huy Dong, Vice Minister, Ministry of Planning and Investment (Vietnam); Ignasius Jonan, CEO, Indonesia Railways; and Liew Mun Leong, Chairman, Changi Airport Group – discussed key themes related to state-owned enterprises and government-linked companies. The event was graced by H.E Tran Hai Hau, the Vietnamese ambassador to Singapore.

A Study of SGX-listed Family Firms Dr Marleen Dieleman Dr Jungwook Shim Mr Muhammad Ibrahim

Family Business Roundtable: Professionalising The Family Firm, 17 May James Riady Distinguished Visiting Professor Randall Morck delivered a keynote presentation on professionalising family firms followed by a panel discussion with practitioners Berndt Brunow, Chairman of Oy Karl Fazer Ab; Navin Amarasuriya, Managing Director of B.P. de Silva; and Govindraj S. Dempo, Founder and CEO of Raj Dempo Ventures. They kept the audience engaged with anecdotes on their personal experiences of managing and growing family businesses.

LEADING FROM ASIA

TIES THAT BIND

MAKING CONNECTIONS In business, it is important to make the right connections. The Global Alumni Network Office (GANO) engages its extensive network of more than 50,000 alumni globally, in close collaboration with three local alumni associations – the NUS Business School Alumni Association, MBA Alumni-NUS and NUS Business School Mandarin Alumni Association.

EXPLORING SINGAPORE & NETWORKING Over 130 MBA students and alumni members got together in August for an enjoyable evening of networking. Students who were new to life on campus and in Singapore were able to gain much-needed knowledge, get accustomed to what is available and most importantly, feel the warmth of friendship.

OVERSEAS CHAPTER INSTALLATIONS

EMINENT BUSINESS AWARDS We are proud to honour outstanding candidates with the NUS Business School Eminent Business Alumni Awards, the highest recognition from the School of alumni who have excelled in business and management. The biennial event was held at the Shangri-La hotel and graced by Minister for Foreign Affairs and Minister for Law Mr K Shanmugam. “ The school always strives to develop leaders who will serve society and business.” Peter Seah, Chairman, Awards Committee and Chairman, DBS Group

300 250

ALUMNI AT THE MBA REUNION 2013, 31 MAY

Planning reunions can be unnerving, especially when the numbers roll into the hundreds, the guest lists stretch from 1969 to 2013 (for the BBA alumni), and some of the guests are based around the world. But the alumni and students persevered in their roles as organisers, performers, class champions and sponsors. Even those who were living abroad coordinated their business trips to coincide with the events, making them a big success.

MBA MENTORSHIP PROGRAMME, 6 FEBRUARY BBA MENTORSHIP PROGRAMME, 25 SEPTEMBER

There are no boundaries when it comes to knowledge sharing and networking. In Bangalore, Jakarta and Ho Chi Minh City, our alumni events and gatherings were well attended, well received and deeply enriching.

Second Alumni Seminar in Bangalore, India, 20 February Our alumni were privy to the insights and experiences of guest speaker Aroon Raman, Managing Director of Raman FibreScience Pte Ltd and author of The Shadow Throne, who shared what it took to be a successful entrepreneur.

ANNUAL NUS BUSINESS SCHOOL REUNIONS

ALUMNI AT THE INAUGURAL NUSBSA REUNION DINNER, 31 AUGUST

OVERSEAS EVENTS

MENTORSHIP PROGRAMMES An exchange of ideas, imparting of knowledge, gaining of new perspectives – these are just some of the takeaways for both mentors and mentees of the NUS Business School Mentorship Programmes for MBA and BBA students.

Alumni Dialogue and Networking Dinner at Ho Chi Minh City, 23 November Alumni and corporate guests from Singapore, Malaysia, China, Taiwan and Vietnam gathered to discuss the opportunities and challenges Vietnam holds for local and foreign investors. Distinguished speakers included Tri N Pham, Chief Country Officer, Vietnam Deutsche Bank; Tran Thai Binh, Partner, LNT & Partners; and Eddy Laurence Ho, Director of Operations, RealtyLink Consultancy. Participants also visited the Vietnam Singapore Industrial Park and Township (VSIP), as well as CapitaLand’s latest overseas venture, The Vista.

Alumni Forum and Dinner in Jakarta, Indonesia, 16 – 17 May Participants keen to capitalise on Indonesia’s growth story gained invaluable insights from distinguished speakers Alex Ibarat (MSc 2001), President and Director, PT Arpeni Pratama Ocean Line Tbk; Michael Riady (UCLA - NUS EMBA 2012), Executive Vice Chairman, Lippo Malls Indonesia; and Sutradharma Tj Sudarman, CEO & Partner, TJS and Partners. In the event on 17 May, organised by the Jakarta Mandarin Alumni Chapter, Njoto Suhardjojo (Executive Education, 20th Batch) gave a management perspective on Sun Tzu’s Art of War. Akie Setiawan (NUS APEX-MBA Chinese 2003) and Soerjo Santoso (Executive Education, 4th Batch) respectively spoke about ‘green’ business and the affluent second generation.

203 ATTENDEES

“ NUS has imbued me with a life-long thirst for knowledge, an acceptance of diversity as a strength and the quest for excellence in every business endeavour using management science and philosophy.” - Alumni mentor

“ The NUS Business School motto ‘Leading from Asia’ would not be possible without alumni mentors volunteering to give back.” Professor Chng Chee Kiong Vice-Dean (Undergraduate Studies)

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

GIVING MATTERS

REALISING DREAMS Over the years, the generous support of individuals and corporate donors, foundations, alumni, as well as faculty, staff and students, has given us a head start in creating a world-class environment for learning and research. Your gifts have gone a long way in helping the School invest in strategic projects, enrich the learning experience with visits from distinguished educators and eminent leaders, and most importantly, ensure deserving students get to benefit from the NUS Business School experience. Our donors have helped to realise dreams with their generous donations. Last academic year, $6.89 million was contributed by 654 donors, who included alumni and students.

GIVING BY SOURCE*

63%

INDIVIDUALS

SINGAPORE GOVERNMENT AND STATUTORY BOARD

17% 15%

CORPORATIONS

FOUNDATIONS

GIVING BY PURPOSE*

78%

STUDENT SUPPORT

11%

FACULTY RESEARCH & PROFESSORSHIP

11%

RESEARCH CENTRE

* % of total funds received in AY2012/2013

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

ENDOWED AND EXPENDABLE GIFTS There are many ways donors can make a difference: 1. Pledge an endowment where the principal sum is preserved and invested to earn returns to support a designated purpose. 2. Plan an expendable gift to be used for an intended purpose over a specified period. For the Academic Year 2012/2013, we received $1.3 million in expendable gifts and $5.59 million in endowed gifts. The unaudited market value of the School’s endowment is $88.99 million, a 19% increase from the previous academic year.

YOU HAVE MADE AN IMPACT We are truly grateful to the following donors who have given $250,000 or more to the School.

$10 MILLION OR MORE Lippo Group

$1 MILLION OR MORE Dymon Asia Capital (Singapore) Pte Ltd Estate of Foo Hee Lim Jardine Cycle & Carriage Limited Mrs Lee Choon Guan Trust Fund Low Tuck Kwong Musim Mas Holdings Pte Ltd OSIM International Ltd Saw Swee Hock Singapura Investment Holdings Pte Ltd Tahir Alice & Peter Tan Tang See Chim & Family Victor and William Fung Foundation

$250,000 OR MORE

Veronica Eng Siang Yang Raymond Goh & Lee Kwai Fong Ian Ferguson Foundation The Institute of Banking & Finance Lee Foundation Mizuho Corporate Bank Ltd Morgan Stanley Asia (Singapore) Pte Jean Ngiam-Wu Po Kin & Family NUS Business School Alumni Association NUS Business School Mandarin Alumni PSA Corporation Limited Singapore Press Holdings Ltd Singapore Totalisator Board Temasek Foundation CLG Limited YCH Group Private Limited

WHAT OUR DONORS SAY “ It is a firm belief of my late grandfather Mr Pek Cheng Chuan in “取之社会, 用之社会” (to give back to society from which one has benefitted) that motivates us to carry on his aspiration to contribute to society, particularly in the field of education.” Thomas Pek Ee Perh Managing Director Tai Hua Food Industries Pte Ltd Pek Cheng Chuan Memorial Bursary

“ My wife, Emma, and I hope the students, by being able to put financial worries behind them, can continue to excel in whichever discipline they wish to.” Professor Joseph Cherian Director Centre for Asset Management Research & Investments (CAMRI) Yanfang and Joseph Cherian Bursary

WHAT OUR RECIPIENTS SAY “ No words can describe how much your gift means to me. Your support has been truly priceless in helping me through all my struggles and I hope one day I can continue on the good deeds by helping others in need.” Siti Arina bte Abu Bakar, NUS BBA NUS Business School Alumni Association – Lim Pu Leh Bursary NUS Business School Alumni Association – Lim Beng Geok Bursary Yanfang & Joseph Cherian Bursary

“ The Li & Fung Scholarship made it financially feasible for me to spend a semester in the UK on an exchange. It was a lifechanging experience that really has broadened my world view and expanded my horizons. Thank you for giving me such an opportunity.” Teo Chun Rui, NUS BBA (Hons) Li & Fung Scholarship

u FOR STORIES ON GIVING

LEADING FROM ASIA

NEWSWORTHY

THINK BUSINESS

MAKING HEADLINES The School continued to attract media attention across the region and beyond for its initiatives, faculty research and commentaries, as well as the achievements of its students and alumni.

READERSHIP

Launched in April 2012 to support and promote the School as a thought leader in business education, Think Business continued to increase its reach, doubling its readership in a year. Its published commentaries and analyses featuring faculty and visiting academic and industry leaders have also been extensively reproduced in the media.

2013 vs. 2012

TOTAL VISITORS

UNIQUE VISITORS

87.69%

98.68%

MEDIA REPORTS 11 Jan 2013, Straits Times

GEOGRAPHIC DISTRIBUTION OF READERSHIP

United Kingdom

8 Apr 2013, Lianhe Zaobao

13 Jan 2013, Sunday Times

United States

China India Malaysia Singapore Indonesia

8 May 2013, Business Times

9 Nov 2013, Education Post (South China Morning Post)

POPULAR CONTENT ON THINK BUSINESS IN 2013 Kodak: A failure of focus: Lessons from Kodak Lessons from the decline of a once mighty American industrial icon

MEDIA MENTIONS Total Media Mentions in Southeast Asia in 2013

2.45

TELEVISION

0.45

RADIO

Media Mentions by media type (2012 – 2013)

Dealing with Demanding Customers What to do when the customer isn’t always right

700 600 500 400

28.7

300

INTERNET

68.4

PRESS

Tainted milk: Unravelling China’s melamine scandal China’s 2008 tainted milk scandal laid bare the harsher realities behind the country’s economic miracle

200

100

INTERNET

2012

2013

OSIM and the use of celebrity marketing A chair is a chair is a chair. But how you market it is what sets it apart, according to OSIM International’s founder

Hong Kong The Philippines

Australia

SOCIAL MEDIA As the School’s presence on the main social media platforms continued to grow, social media was also employed during major School events like Commencement 2013, as well as the BBA and MBA Orientations, to deepen engagement with students. In late 2013, an official School blog Outside-In was launched with the aim of nurturing a sense of community among staff, students, faculty and alumni, and keep stakeholders updated with the latest news and happenings in the School.

Big Data: What’s the big deal? Big data’s real value comes from being smarter in the way you use it

SOURCE: iSentia

u GO TO THINK BUSINESS u VISIT OUTSIDE-IN

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

NEWSWORTHY

INTERNATIONAL RANKINGS Financial Times MBA Rankings 2014

32nd

Financial Times EMBA Rankings 2013 5th (UCLA - NUS Executive MBA) 17th (Asia Pacific Executive MBA) Financial Times Master’s in Management Rankings 2013 7th (CEMS Master’s in International Management) Forbes Global (2-year) MBA rankings 2013 2nd outside the United States Princeton Review (2014 edition) Among “The Best 295 Business Schools” QS World University Rankings® 2012/13

25th

QS Global 200 Business Schools 2013/14 4th in Asia-Pacific QS World University Rankings® by Subject 2013 11th in the world (for accounting and finance) Times Higher Education World University Rankings 2013/14

26th

Times Higher Education World Reputation Rankings 2013 22nd (university-wide) University of Texas at Dallas World Rankings based on Research Contribution 2013

43rd

NUS Business School National University of Singapore Mochtar Riady Building 15 Kent Ridge Drive Singapore 119245 Email : askbiz@nus.edu.sg Website : bschool.nus.edu February 2014

NUS BUSINESS SCHOOL ANNUAL REPORT 2013

LEADING FROM ASIA

NUS BUSINESS SCHOOL ANNUAL REPORT 2013