Aug 2, 2022
| FROM CUHK: CUHK Ranks 33rd in Finance in the ShanghaiRanking’s Global Ranking of Academic Subjects 2022 |
|
CUHK is ranked 33rd worldwide in Finance in the ShanghaiRanking’s Global Ranking of Academic Subjects (GRAS) 2022 released recently, up by 6 places from the ranking last year. In Hong Kong, CUHK has made its way to the top this year and second in Asia. This is a testament to the CUHK Business School’s continuous effort in achieving teaching and research excellence in the field of Finance. Presented by ShanghaiRanking, a higher education accreditation organisation, the GRAS assesses more than 5,000 universities in 54 subjects across natural sciences, engineering, life sciences, medical sciences, and social sciences. The GRAS measures the performance of universities in respective subjects by adopting a range of international academic indicators and third-party data, including international academic awards, research output, research quality and international collaboration. For details of the rankings, please click here. The post CUHK Ranks 33rd in Finance in the ShanghaiRanking’s Global Ranking of Academic Subjects 2022 appeared first on CUHK Business School. |
Aug 14, 2022
| FROM CUHK: Palpating by Numbers – Enhancing the Health of Corporations and Accounting |
|
Corporate Doctors Loretta was made partner after only 11 years on the job. Possibly, it was her reluctance to be complacent that set her apart. “Accountants deal with all sorts of ‘ailments’ every day. We can’t simply work the books behind closed doors. Instead, we should be curious about how clients operate to produce accurate and constructive solutions.” Thus, Loretta enjoys “walking the factory floors” and interacting with the operation staff. This allows her to observe, listen, ask questions and refine her diagnostic abilities. She opines that accountants should have strong language and communication abilities in addition to numerical skills; otherwise, they will not be able to clearly present complex ideas to clients. She learnt this lesson the hard way. When she first joined Andersen Canada, she was regarded as “too frank and untactful” due to cultural differences. She has since gathered mastery of the art of tactful communication. Now, many of her clients approach her for operational advice. “I often tell my team that it is wisdom, not merely intelligence, which drives success. Wisdom is the combination of experience and intelligence. We need to take the initiative to broaden our knowledge and speak frequently with our team.”  Loretta was elected President of the HKICPA last year. She hopes to promote the healthy development of the accounting profession. Committed to Establishing a Healthy Atmosphere Loretta’s tryst with the accounting profession was a result of both her father’s wish and her own interest in the field. She recalled running into her supervisor in Canada while attending her first partners’ conference. He told her that he was glad he made the decision of recruiting her, as he had helped the firm find a successor. This motivated Loretta to contribute more to the industry. Upon taking over the role as President of the HKICPA last year, she formed big plans for the healthy development of the industry: “Keeping up with the times is an indicator of the industry’s healthy growth. Against the backdrop of constantly evolving markets, our industry must adapt and prepare for the future by developing new systems and services. Take, for example, the emergence of ESG in recent years. It has prompted the International Sustainability Standards Board (ISSB) to develop sustainability-related disclosure standards. This shows that accountants can’t stick with the rules and refuse to evolve.” She noted that the HKICPA will focus on supporting its members’ professional growth once the work to transfer regulatory oversight to the Financial Reporting Council is complete. With AI and other tech applications fast maturing, many people are concerned that traditional professions such as accounting will be supplanted. But Loretta is far from being worried: “Accounting is more than just working with numbers. A large part of the job involves communicating with others, which can’t be easily replaced by technology. What technology can do is make our work easier by helping solve existing problems, such as further digitalising the auditing workflow and automating monotonous tasks. Doing so will enhance accountants’ productivity and efficiency, enabling them to have a healthier work life and make more meaningful contributions.” She encourages Hong Kong’s accountants to keep a close watch on new opportunities in the region: “The Mainland’s accounting system is largely aligned with international standards. There are 47,000 certified accountants in Hong Kong for a population of 7.6 million, but fewer than 300,000 on the Mainland for a population of over 1.4 billion. Obviously, this signifies a tremendous demand for accountants on the Mainland.” She revealed that the HKICPA is in talks with the Mainland authorities to exempt Hong Kong accountants from more examinations and work experience requirements, so that more members can tap the opportunities in the Greater Bay Area.  “By automating some of the monotonous tasks, technology can enhance the productivity and efficiency of accountants. It will facilitate the industry’s long-term development and enable it to create more meaningful contributions,” shared Loretta. Lifelong Learning for Lifelong Wisdom Since graduating from the CUHK Business School, Loretta has maintained contact with her classmates and professors. Inspired by the liberal teaching and learning during her undergraduate studies, she encourages other alumni and students alike to stay curious and embrace a lifelong learning mindset. “In today’s world, if you’re not progressing, you’re regressing; and you will lose out sooner or later.” Loretta’s love of learning has led her to not only obtain various accountancy qualifications, but also to become a Chartered Financial Analyst. Outside of work, Loretta makes time to pursue work-life balance. She has obtained a yoga instructor certification. “Everyone defines success differently. For me, success means continuing to advance in what I’m passionate about.”   Loretta was very studious during her undergraduate studies, receiving myriad accolades. She is determined to make a positive impact on the accounting profession. First published in the CUHK Business School Alumni Portal on 7 July 2022, this article was republished with permission from the School’s Alumni Affairs and Development Office. The post Palpating by Numbers – Enhancing the Health of Corporations and Accounting appeared first on CUHK Business School. |
Aug 30, 2022
| FROM CUHK: Celebrating Lifelong Friendships at MBA Mentorship Programme Appreciation Dinner |
|
In the past year, the mentorship programme was joined by 69 passionate, top-notch alumni from a wide array of industries, including banking and finance, consulting, technology, FMCG, retail and luxury goods, entrepreneurship and more. Equally enthusiastic, 99 MBA students received one-on-one coaching from their mentors, who shared practical business insights and valuable career advice. Prof. Lin Zhou, Dean of CUHK Business School, delivered a vote of thanks, specially to the mentors for their devotion to the mentorship programme. Their contribution is invaluable and key to the thriving alumni network.   The evening was filled with joy and laughter. Unwinding over the beautiful Victoria Harbour, the mentors and mentees enjoyed blissful dialogues and hearty sharing from their peers on what the mentorship programme had meant for them. The post Celebrating Lifelong Friendships at MBA Mentorship Programme Appreciation Dinner appeared first on CUHK Business School. |
Aug 31, 2022
| FROM CUHK: CUHK Business School Celebrates 35 Years of Nurturing Top Accounting Professionals |
|
Highlight of the event includes the captivating speech delivered by distinguished guest speaker Ms. Loretta Fong, President of the Hong Kong Institute of Certified Public Accountants, partner at PwC and an ardent alumna from PACC. Technological disruptions have had tremendous impact on the accounting industry among many others. To the central question of being accounting professionals in the new era of AI, Prof. Lin Zhou, Dean of CUHK Business School, shared his thought-provoking view in his welcome remark. “What sets us apart is the true value we bring – compassion, integrity and human connection. These qualities are at the heart of our education in CUHK. In the course of digital transformation, I hope we will continue to impact the business and community with the spirit of humanity.” In this meaningful event, the School took the opportunity to express their appreciation to its staunch supporters. Their generous contributions have made a myriad of opportunities possible and sowed the seed of giving back among the young generation of accounting talent.     The post CUHK Business School Celebrates 35 Years of Nurturing Top Accounting Professionals appeared first on CUHK Business School. |
Sep 7, 2022
| FROM CUHK: CUHK Business School Welcomes New Faculty Members in the Academic Year 2022-23 |
|
With solid research, teaching and industry experiences, the new faculty members are poised to make significant contributions in nurturing future business leaders and engaging in a wide range of research efforts that create impact to the business community and society at large. The new faculty members and the institutions from which they obtained their PhD / doctor’s degree are listed below: School of Accountancy
  The post CUHK Business School Welcomes New Faculty Members in the Academic Year 2022-23 appeared first on CUHK Business School. |
Sep 14, 2022
| FROM CUHK: CUHK Business School Welcomes Over 700 New Undergraduates |
|
The annual flagship event marks the beginning of a new chapter for 700 newly admitted undergraduate students from 16 locations. The celebration was also joined by the students’ family members. Prof. Lin Zhou, Dean of CUHK Business School, applauded the tremendous efforts the students made in overcoming the challenging high school years amidst the pandemic. Looking back at the hardest time during COVID-19, Prof. Zhou inspired the freshmen with one important lesson, “No one knows what the future holds, but we are here and now to craft it. Be the change you wish to see in the world.” “CUHK Business School is a nurturing cradle for generations of global business leaders, and home to more than 40,000 alumni who have become the driving force for positive changes in society.” Prof. Zhou invited the students to step out of their comfort zone and take advantage of the experiential and interdisciplinary learning opportunities aplenty to live their life to the fullest at CUHK.  Prof. Lin Zhou, Dean of CUHK Business School  Mr. Leong Cheung (1994 BBA), Former Executive Director, Charities & Community at The Hong Kong Jockey Club, was nominated as this year’s Beta Gamma Sigma CUHK Chapter Honoree. During the event, the Beta Gamma Sigma CUHK Chapter Honoree was announced and conferred to Mr. Leong Cheung (1994 BBA), Former Executive Director, Charities and Community at The Hong Kong Jockey Club. Established in 2000, Membership in Beta Gamma Sigma is the most prestigious recognition awarded to veteran business leaders who embody its ideals through exceptional leadership. A dedicated and respectable alumnus, Mr. Cheung has inspired different sectors with his extraordinary leadership and remarkable endeavours in creating positive impact to the community.  A highlight of the evening was the signature badge presentation ceremony. The annual tradition signifies the undertaking of responsibility by the new class and celebrates the transition into business education and profession.  Dr. John Lai, Assistant Dean (Undergraduate Studies), CUHK Business School Dr. John Lai, Assistant Dean (Undergraduate Studies), drew a captivating close to the event and encouraged students to dream big, work diligently and build unforgettable friendships in the transformative journey.  The inauguration was concluded by a heartwarming music performance performed by CUHK students. The post CUHK Business School Welcomes Over 700 New Undergraduates appeared first on CUHK Business School. |
Sep 20, 2022
| FROM CUHK: Playing a Great Game with a Strong Mind |
|
Blazing New Trails Albert had turned down invitations from more prestigious banks in 2000 to join the lesser-known EFG Bank to develop its Asia-Pacific business from scratch. At that time, EFG Bank had no licence, office, clients or assets to manage in the entire Asia Pacific region. Albert jested that it was precisely these “four nothings” that attracted him the most. With the intent to capitalise on the opportunity, he tuned out the naysayers around him and challenged himself to build the bank from the ground up. “I didn’t mind failing. I just didn’t want to look back and regret not making the move. Because I was prepared, I decided to seize the opportunity and give it my all.” The two-person team (him and his secretary) at the time gradually grew into an operation with more than 700 employees in the Asia-Pacific region today. The boutique Swiss private bank manages assets worth nearly CHF35 billion in the region as at the end of 2021. Despite his success, Albert admitted that it was not part of his original plan. His intention at the time was to position the Asia-Pacific division as a marketing hub, while for the Swiss headquarters to continue to handle all the back-office services and asset custody. However, after two years on the job, he discovered that the region’s economic potential was far greater than they had anticipated. As a result, he decided to pivot: “The speed at which wealth in Asia Pacific was growing beyond our imagination. For this reason, we decided to open branches in Hong Kong and Singapore, as well as front and back offices, to provide clients with more immediate and diverse services.” EFG Asia Pacific’s operation also extended to Australia in 2019.  Albert is riding high on the Asia Pacific’s rapid wealth growth. By pioneering new services, he has enabled EFG to secure a significant position in the region’s private wealth management market. Adjusting the Mindset to Stay Cool-Headed A veteran banker who has weathered numerous financial storms, Albert has always maintained command in the face of adversity: “There will always be volatility in the market, and every downturn provides an opportunity for growth. So long as you make the necessary preparations ahead of time, you can turn a crisis into an opportunity.” He emphasised the significance of long-term thinking in investment, business operations and even customer relations. “Private banking is all about people. Given the sensitivity of the amounts and decisions involved, trust is of paramount importance but it can only be built over time. It is only by working closely and diligently with clients will they open up to us, and only then will we be able to better understand their needs and provide them with more suitable asset allocation and financial advice.” Albert also learnt the secret to keeping his composure through his training and experience as a football referee. “Football referees must be extremely focused. They must keep an eye on everything while maintaining a cool head to make the right calls in split seconds.” Of course, no one is perfect, and mistakes would be made. But Albert’s ability to quickly adjust his mindset allowed him to swiftly recover from the setbacks and move on. “One of the matches that stand out in my mind is when I missed a player committing a handball in the penalty area. I didn’t realise I had made a major error until the assistant referee reminded me during halftime. I’d never forget sitting in the changing room reluctant to return to the field. But, at the last minute, I reminded myself that I needed to let it go, face it head-on and be professional.”  Albert said his experience of being a referee has enabled him to hone his focus and mental quality to tackle the challenges at work. Although Albert has long “hung up his boots” from the world of football, he is still very much in the game of private wealth management. With places like Singapore actively developing their wealth management businesses, competition in the region has grown fiercer in recent years. However, Albert believes that Hong Kong still enjoys our own competitive edge: “Hong Kong’s capital market is one of a kind. For years, we’ve been one of the world’s largest IPO markets and we have spawned a slew of wealthy individuals. With the strong backing of China, demand for wealth management remains strong.” Albert’s ambitions are further fuelled by the enormous potential for wealth growth in the Asia-Pacific region. “Our Asia Pacific’s operations have the second largest amount of assets under management in the group. In the next five years, we hope to rise to first place, and become the first Swiss bank to have an overseas division with more assets under management than its head office.”  “For many years, Hong Kong’s IPO market has led the world. With our proximity to China and growing demand for wealth management, I look forward to managing assets on an even larger scale,” Albert Chiu shared. Get Ready to Seize the Opportunities Albert is grateful to CUHK for giving him an outstanding business education and a dormitory life that made him the person he is today: “Besides learning the basics, I was exposed to different people and issues through marketing projects and overseas learning opportunities. This allowed me to develop my communication skills, which have been especially advantageous in the people business.” He encouraged alumni and students interested in a career in wealth management to stay current on policies and trends of China and to equip themselves early: “Those who are prepared will succeed. China will play a significant role in the future of wealth management. It is only by preparing ahead of time can you seize opportunities in the region and take charge of your life.” First published in the CUHK Business School Alumni Portal on 4 August 2022, this article was republished with permission from the School’s Alumni Affairs and Development Office. The post Playing a Great Game with a Strong Mind appeared first on CUHK Business School. |
Sep 23, 2022
| FROM CUHK: CUHK Business Sustainability Indices Reveal Resilience Amidst the Pandemic and Launches Global and Real Estate Indices |
|
Since its launch in 2015, the BSI offers a framework that supports companies in driving their sustainability strategy and promotes business practices that contribute to positive social and environmental impact. This year, the BSI examines the sustainability performance of 285 companies listed in Hong Kong, Taiwan, Shanghai and Shenzhen spanning 12 industries, based on their Environmental, Social, and Governance (ESG) and Corporate Social Responsibility (CSR) performance during 2019-2020 fiscal year (or 2020 calendar year). The BSI covers three geographical locations (the Greater China region, the Greater Bay Area and Hong Kong), as well as the hotel industry in the region. Generally speaking, despite the impact of the pandemic, companies remained resilient in their sustainability endeavours and achieved an overall increase in BSI score (up by 10.62% YOY). The assessment period saw the emergence of COVID-19. To cope with the unprecedented challenges sparked by the pandemic, many companies shifted their focus to the bottom line and strengthened their interactions with primary stakeholders, such as deploying flexible working arrangements for employees. However, the score for practice and impact decreased moderately (down by 8.02-11.62% in Hong Kong, Taiwan and Shanghai). In Hong Kong, four companies (up from two YOY) achieved the highest rank (exemplar) and topped the chart of individual scores in the region during the assessment period. Comparatively more advanced in sustainability development, Hong Kong companies worked towards delivering social and environmental impact and translating business inputs into tangible social values. The most significant improvement in overall score by location was recorded in Shenzhen (up by 30.19% YOY) and Shanghai (up by 17.72% YOY), accounted for largely by the positive response to the regulatory requirements. Among the score drivers, environmental practices increased by 29.07% and 13.18% in Shenzhen and Shanghai respectively, attributed mostly to the considerable reduction in operations during COVID-19, and thus, reducing negative impacts on the environment. While both cities are in the earlier stages of their pivot to sustainability and therefore starting off a lower base, the two cities are quickly catching up and narrowing the gap with Hong Kong and Taiwan. On average, Taiwanese companies remained top performers (average BSI score: Taiwan 68.68, Hong Kong 59.65, Shanghai 43.04 and Shenzhen 34.80) and outshone in sustainability engagement and reporting, including extensively crafted CSR reports and comprehensive online disclosure.  Representatives of the overall top performing companies received certificates for their outstanding performance in business sustainability. Launch of Global BSI and Real Estate Industry BSI (REBSI) in 2023 The Global BSI includes companies in major stock markets around the world to enable companies with global influence to annually assess their CSR endeavours factoring a broad range of stakeholder groups. It covers blue-chip companies in major stock markets and recognises remarkable performance in sustainability. The data-driven approach will enable companies to seek continuous improvement in their ESG management in a systemic way for the benefits of the environment, business and society. The REBSI is CBS’ second sector-based BSI alongside with the Hotel Business Sustainability Index (Hotel BSI), providing a holistic assessment of the listed real estate companies in the Greater China region. The constituent companies will include the properties and construction companies in major stock indices in the Greater China region, namely, the Hang Seng Index and the Hang Seng Stock Connect Hong Kong Greater Bay Area Index of the Hang Seng Index Company Limited, the FTSE TWSE Taiwan 50 Index of the Taiwan Stock Exchange Corporation (TWSE) and FTSE Group (FTSE), the SSE 50 Index of the Shanghai Stock Exchange, and top 50 constituents from the SZSE 100 index of the Shenzhen Stock Exchange in terms of their market capitalisation.  Prof. Carlos Lo, Director of CBS at CUHK Business School Professor Carlos Lo, Director of CBS, articulates the vision for the BSI as it further expands, “We hope the BSI will enable the global business community to thrive on their trajectory towards sustainability. We hope this will be an effective tool for organisations to transform CSR, ESG and SDGs into an integral part of their business which fuels their activities at all levels.” Appendix 1 The Hong Kong Business Sustainability Index (HKBSI) HKBSI aims to encourage companies in Hong Kong to adopt CSR as a progressive business model for them to achieve business sustainability. In the 7th HKBSI, 58 Hang Seng Index (HSI) constituent companies were invited to complete the assessment. Compared to the results of the 6th HKBSI released last June, the overall average score of the HSI constituent companies was 59.65 points (out of 100 points), up by 1.7%. Among the assessment aspects of VPI, “Impact” registered a significant increase from 37.68 points (6th HKBSI) to 45.17 points, yet, “Values” recorded a slight drop from 65.54 points (6th HKBSI) to 61.71 points. “Process-Management” and “Process-Practice” have remained stable, recording 69.95 points and 65.90 points respectively. Among the companies assessed, four of them achieved the highest rank “Exemplar” with over 90 points, reflecting that these companies’ business sustainability performance has reached an international standard. In terms of stakeholder analysis, companies showed significant improvement in responding to regulatory requirements such as Government (up by 31.1 % ) and Investor (up by 8.3%). Overall VPI Scores – HKBSI [img]https://www.bschool.cuhk.edu.hk/wp-content/uploads/Overall-VPI-Scores-–-HKBSI-1200x781.jpg[/img] The Top 10 HKBSI Company Ranking Ranking Company Name 1 Hong Kong and China Gas Co. Ltd. 2 HSBC Holdings plc 3 BOC Hong Kong (Holdings) Ltd 4 Sun Hung Kai Properties Ltd 5 Hang Seng Bank Ltd 6 MTR Corporation Limited 7 CLP Holdings Ltd. 8 Henderson Land Development Co. Ltd 9 Sands China Ltd 10 New World Development Co. Ltd Appendix 2 The Greater Bay Area Business Sustainability Index (GBABSI) GBABSI covers Hong Kong listed companies with operations in GBA that are eligible for southbound trading under the Stock Connect scheme, aiming at encouraging and motivating companies in the GBA to adopt CSR as a progressive business model. A total of 72 companies participated in the 3rd GBABSI. Compare to the 2nd GBABSI results (52.86 points), the overall average score this year (54.21 points) mildly improved this year by 2.6%, with a significant increase by 7.7% in “Process-Management” score, mainly due to companies’ efforts to set a more functional managerial structure for sustainability issues. Nevertheless, benchmarking against the 7th HKBSI results (59.65 points), the latest GBABSI average score was 10% lower. Among the participating companies in GBA, four reached the highest rank “Exemplar”. Many companies originally in “Explorer” stage with their scores below 50 points started to publish CSR reports and began to set up CSR departments. Similar to HKBSI constituents, there was a significant improvement (32.5%) in regulatory requirements in terms of stakeholder analysis. In face of the challenges brought by the pandemic, many companies turned their focus to maintaining the bottom line. Besides, government regulations as well as health and safety concerns also led to reduced volunteering activities and community projects. As a result, the Community Practice and Impact scores decreased. Overall VPI Scores – GBABSI [img]https://www.bschool.cuhk.edu.hk/wp-content/uploads/Overall-VPI-Scores-–-GBABSI-1200x593.jpg[/img] The Top 10 GBABSI Company Ranking Ranking Company Name 1 Hong Kong and China Gas Co. Ltd. 2 BOC Hong Kong (Holdings) Ltd 3 China Resource Power Holdings Co. Ltd 4 Sun Hung Kai Properties Ltd 5 Hang Seng Bank Ltd 6 MTR Corporation Limited 7 Sino Land Company Limited 8 Henderson Land Development Co. Ltd 9 Sands China Ltd 10 Kerry Properties Limited Appendix 3 The Greater China Region Business Sustainability Index (GCBSI) To promote business practices that contribute to positive social and environmental impact in the Greater China region, CBS rolled out the inaugural GCBSI in 2021 to engage listed companies in Shanghai, Shenzhen, Taiwan and Hong Kong. This year, the overall score (51.86 points) improved by 11% when compared to that of last year. The scores of companies in Shanghai and Shenzhen increased significantly, by 17.72% and 30.19% respectively, while that of the companies in Taiwan and Hong Kong achieved a slight increase of 3.98% and 1.69% respectively. Specifically, listed companies from Taiwan achieved an average score of 68.68 which outperformed those in Hong Kong (59.65 points), Shanghai (43.04 points) and Shenzhen (34.80 points). Overall, companies in Taiwan were more instrumental in disclosing CSR information through multiple channels. For example, they were able to provide more comprehensive disclosure on their websites compared to companies in Hong Kong, Shanghai and Shenzhen. Companies in Taiwan and Hong Kong followed a balanced stakeholder pattern that involved community, customers, employees, environment, government, investors and suppliers. On the other hand, companies in Shanghai and Shenzhen focused on compliance including the government and investors. On average, Shanghai, as a more mature market, showed better CSR performance. Companies in Hong Kong engaged more with primary stakeholders (investor, customer, employee and supplier) than secondary stakeholders (community, environment, government), indicating a more market-oriented sustainability strategy. More focus was placed on CSR strategies related to their value chain development rather than societal stakeholders. Since 2020, due to the pandemic, many companies tried to cope with the new emergency and started to reduce community practice such as volunteering projects and community support projects – reduced by 8% in Taiwan, 11.6% in Hong Kong and 9.4% in Shanghai (an increase of 25.9% was recorded in Shenzhen). In terms of environmental practices, companies in Hong Kong and Taiwan reduced environmental practices by 9% and 3.9% respectively. Given the shrinking economy in 2020, many companies cut their budget for environmental donation and volunteering. Many companies also had to reduce or stop their production line and service, leaving less environmental footprint to be managed. On the other hand, companies in Shanghai and Shenzhen improved by 13.2% and 29% respectively, in response to China government’s environmental pledges. Overall VPI Scores – GCBSI [img]https://www.bschool.cuhk.edu.hk/wp-content/uploads/Overall-VPI-Scores-–-GCBSI.jpg[/img] The Top 10 GCBSI Company Ranking Ranking Company Name 1 Hong Kong and China Gas Co. Ltd. 2 HSBC Holdings plc 3 BOC Hong Kong (Holdings) Ltd 4 Sun Hung Kai Properties Ltd 5 Taiwan Mobile Co., Ltd. 6 CTBC Financial Holding Co., Ltd. 7 Hang Seng Bank Ltd 8 MTR Corporation Limited 9 CLP Holdings Ltd. 10 Wan Hai Lines Ltd Appendix 4 The Hotel Business Sustainability Index (Hotel BSI) The tourism industry plays a crucial role in CSR advancement and hotel companies are integral to its success. Entering the second year of Hotel BSI, the Centre for Hospitality and Real Estate Research (CHRER) at CUHK School of Hotel and Tourism Management (SHTM) continues to encourage hotel companies to adopt CSR practices and recognise top CSR performers. This year, the number of indexed hotel companies has expanded to 29 – 20 of which are based in Hong Kong, Macau, Mainland China, and Taiwan, plus nine international hotel chains. Companies’ performance for the financial year of 2019-20 is assessed based on publicly available information. Overall, the average score of all indexed companies in the Hotel BSI improved from 45.83 points to 52.61 points, representing a 14.9% increase. Forty percent of the indexed hotel companies reached the “performer” level and scored 60 points or above compared with 17% in the first Hotel BSI. The improvement was contributed mainly by those in the Greater China region, namely, Hong Kong (49.19 points, up by 13.5%), Mainland China (29.78 points, up by 8.1%), Taiwan (50.72 points, up by 30.4%) and Macau (70.11 points, up by 15.0%). Despite a slight decrease (- 2.1%) as compared to the previous index, the international chains still outperformed constituents based in Hong Kong, Mainland China and Taiwan with the highest average score of 63.99. The tourism and hospitality industries were hard-hit by the pandemic. However, the setback did not stop hotel companies from advancing their CSR trajectory. According to the data, even hotel companies that fell behind in their CSR initiatives traditionally in the Greater China region have now started to gain momentum. In addition to the endeavours of individual companies and regions, the tremendous call for sustainable tourism by various stakeholders, including travellers, businesses, investors, NGOs, tourism organisations and governments also played a key role in driving the industry-wide improvement. Top 10 list of 2nd Hotel BSI (in alphabetical order)
 Overall VPI Scores  Performance by Level of Achievements  Appendix 5 About the Business Sustainability Indices (BSI) The BSI is a series of indices based on the assessments using the unique “Values – Process – Impact” (VPI) model developed and launched in 2015 by the Centre for Business Sustainability (CBS). Each index company is assessed in three main areas, namely Corporate Social Responsibility (CSR) values (Values), CSR management and CSR practices (Process), as well as the company’s contributions to economic, social and environmental sustainability (Impact). About the Centre for Business Sustainability (CBS) The CBS is a collaboration between the Department of Management and the Department of Government and Public Administration at CUHK. Founded in June 2018, the CBS mission is to promote business sustainability as a viable and profitable business model through conducting innovative research on CSR and sustainability management practices in the region. CBS also aims to transfer the acquired knowledge of CSR applications to both academic and business communities. The centre’s projects include Business Sustainability Indexes on listed companies and SMEs, local companies and corporations based in the Greater China Region. About CUHK Business School CUHK Business School comprises two schools – Accountancy, and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management, and Marketing. Established in Hong Kong in 1963, it was the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes including MBA, EMBA, Master, MSc, MPhil, DBA and Ph.D. The School currently has over 4,600 undergraduate and postgraduate students from over 20 countries/regions. In the Financial Times Executive MBA Ranking 2021, CUHK EMBA was ranked 19th in the world. In Financial Times Global MBA Ranking 2022, CUHK MBA was ranked 50th. CUHK Business School has the largest number of business alumni (over 40,000) among universities/business schools in Hong Kong – many of whom are key business leaders. The post CUHK Business Sustainability Indices Reveal Resilience Amidst the Pandemic and Launches Global and Real Estate Indices appeared first on CUHK Business School. |
Sep 29, 2022
| FROM CUHK: CUHK Business School Faculty Members and Students Awarded for Research Excellence |
|
Research Excellence Award 2021-22 The Research Excellence Award aims to encourage outstanding research performance and to provide a long-term, overall positive effect on promoting research excellence at the University and further improving the success rate of all major research grant applications. Prof. Liang Guo Professor, Department of Decision Sciences and Managerial Economics and Department of Marketing Young Researcher Award 2021 Established in 2002, the Young Researcher Award aims to recognise the research accomplishments of young faculty members. Prof. Wensi Xie Associate Professor, Department of Finance “I am deeply honoured to receive the award and would like to express my sincere gratitude to CUHK Business School and the Department of Finance for the recognition of my research output. I would also like to thank my collaborators and colleagues for their guidance and support. This award will motivate me to continue to conduct meaningful and impactful research in the future.” Postgraduate Research Output Award 2021 To encourage quality research, the University established the Postgraduate Research Output Award in 2002. Dr. Hong Zhang Graduate of 2022, Ph.D. Programme in Management “I am extremely grateful for the unwavering support from my supervisor Prof. Wendong Li. His guidance and encouragement throughout my PhD studies have helped me immensely. I am also thankful to all the other faculty members, colleagues and friends in the Department of Management for their care and support. Motivated by this award, I will forge ahead with research that is impactful and beneficial to our society.” Business School Postgraduate Research Output Award 2021-22 (Gold Prize) In addition to the University research awards, the School also set up the Business School Postgraduate Research Output Award to recognise quality research and continue to build its strength in research excellence. Dr. Yangxin Wang Graduate of 2022, Ph.D. Programme in Management “It’s my great honour to receive the Business School Postgraduate Research Output Award 2021-22 (Gold Prize). I would like to express my great gratitude to my supervisor and coauthor, Prof. Dora Lau. She guided me through and helped me to develop my lofty ideas into solid research.” The post CUHK Business School Faculty Members and Students Awarded for Research Excellence appeared first on CUHK Business School. |
Oct 2, 2022
| FROM CUHK: Driving Change with Care, Compassion and an Eye to the Future |
|
When One Door Closes, Another Opens Dr. Wu’s medical journey began in the usual way. At CU Medicine, he studied under some of the best gastroenterologists – Prof. Joseph Jao-yiu Sung, Prof. Francis Ka-leung Chan, Prof Sydney Sheung-chee Chung, among others. Apart from being his seniors, mentors and role models, these doctor-professors generously created opportunities for those who came after them. According to Dr. Wu, he was “standing on the shoulders of giants”. Despite completing his studies and specialist training with flying colours, the economy had slowed and Dr. Wu was met with a setback just as his promising career was set to begin. Fortunately, Dr. Wu’s mentors and colleagues connected him to various projects, allowing him to advance his career in more realms than one. At one time, he was tasked with promoting collaboration between Western and Chinese medicine. At another, he founded the “Global Physician-Leadership Stream” of the MBChB programme, which is the first undergraduate medical leadership programme in Asia, and an initiative designed to nurture promising students to become medical leaders. More recently, he spent three years helping to launch the CUHK Medical Centre, and serving as its Chief Operating Officer. “These opportunities allowed me to experience things beyond the reach of typical doctors. I had the chance to work with elites from various industries and see the world through their eyes. In doing so, I couldn’t help but notice the gaps in my knowledge and skills, and how small my world seemed.” His unique experiences also taught him to stay humble and agile while working with different stakeholders. As an inquisitive person with a penchant for new adventures, Dr. Wu kept learning and broadening his horizons. Above all, he made it a point to develop a strategic thinking mindset to foster positive-sum outcomes.  Broader Exposure, Broader Vision Dr. Wu’s exposure to various fields, as well as his international experience in the capacity of the President of Asian Pacific Association of Gastroenterology, afforded him with unique perspectives. He observed stagnation in Hong Kong’s development when compared to its neighbours: “Competition is intensifying across the Asia Pacific region, with many ambitious players carving out new markets to meet emerging demands for medical services. Technology and digital transformation are also upending the medical industries and creating new possibilities.” In his view, Hong Kong should more proactively connect with the outside world, stay on top of developments in the region and capitalise on new opportunities with courage and determination. Dr. Wu believes that taking an interdisciplinary approach and embracing ecosystem development is the way forward. By bringing together the government and the private sector, as well as investors and innovators, Hong Kong can create an ecosystem for network effect and collective growth. “If Hong Kong is to maintain its global leadership, we must innovate, break down professional silos, lift each other up and seize new opportunities, especially in the Greater Bay Area and on the Mainland. The next ten years will be crucial.” Consolidating Knowledge for Continued Success Dr. Wu hopes to become a better ecosystem leader in the medical industry. He has long desired to pursue an EMBA to consolidate his knowledge and experiences to become a better leader. COVID’s travel restrictions opened a window, and he decided to go for CUHK’s EMBA programme. He pointed out that his decision was not a difficult one. As an alumnus and professor of CUHK, he adores the University’s culture. He was drawn to the EMBA programme’s distinctive features, particularly the integration of Chinese and Western cultures, and he was impressed by the CUHK EMBA alumni. “I met many alumni through my work at Shaw College. They’ve impressed me not only with their professional excellence, but also with their dedication to social responsibility. This is a quality that distinguishes CUHK’s education. We’re encouraged not only to advance our careers but also to find ways to give back. CUHK has the most extensive and solid alumni network of any local university. I knew the programme would help me strengthen my social acumen, professional networking and leadership wisdom, like knowledge about digital transformation.”  Ensuring Continuity in Healthcare Quality While propelling Hong Kong’s medical industry forward is his primary goal, Dr. Wu’s motivation stems from something more fundamental – to serve patients better and always have their best interests at heart. This is also the quality he hopes to instil in his students. For this reason, he places great importance on creating knowledge and instilling in students the ethics and qualities – empathy, caring and compassion – that doctors require and patients deserve. One of Dr. Wu’s teaching focuses is professional communication. “Doctors exhibit their level of care with words. Patients entrust their caregivers with their lives and health. If what you say can motivate them, they’ll remember it forever. But if you say something that violates their trust even inadvertently, the patients will also remember it for the rest of their lives.” Dr. Wu hopes that students who choose to pursue a career in medicine will respect the privilege they have been given. “We receive our medical training to help patients improve their well-being. I often remind my students to take up this mission seriously, to find ways to care and share their strengths, even if the help they’re providing may not be medical-related. If doctors can find fulfilment and thus motivation in serving patients, their dedication will benefit our entire healthcare system and spread compassion throughout our society.” Every Person Is the Architect of Their Own Fortune Looking back at his non-linear career, Dr. Wu is glad that he learnt to enjoy the journey as it came. “I still remember Prof. Sung shared with me how fortuity plays a big role in life. Many things are unpredictable and do not turn out as we would like. However, we can choose to get equipped and create more conditions for fortuity to occur. If you always give your all and show empathy, care and compassion, people will remember you and opportunities will come your way.” Dr. Wu was grateful to have been afforded the privilege of becoming a doctor and contributing to fostering Hong Kong’s medical development. “Even if I could choose again, I would still have chosen to become a doctor as my lifelong career.” Thinking of advancing yourself in the new normal? Explore what’s in your future with CUHK Business School’s programmes. Learn more The post Driving Change with Care, Compassion and an Eye to the Future appeared first on CUHK Business School. |
Oct 16, 2022
| FROM CUHK: CUHK EMBA Ranks 24th in Financial Times Executive MBA Ranking 2022 |
|
Among the world’s top 100 EMBA programmes, CUHK EMBA stays strong in the top place in Asia Pacific (third globally) in the “Career Progress Rank” which tracks the changes in our alumni’s seniority and the size of company they now work in, versus before their EMBA. Besides, the overall satisfaction score* rated by our alumni is averaged at 9.75 on a 10-point scale, being the third in Asia Pacific and forth globally. “The ranking result is a testament of our effort in priming our EMBA students with transformative competencies to master their roles as senior executives. I would like to extend my gratitude to our faculty, staff, students and alumni for their immense support over the years,” said Prof. Lin Zhou, Dean of CUHK Business School. “2023 marks the 60th Anniversary of CUHK and the Business School, as well as the 30th anniversary of our EMBA programme. We look forward to connecting with students, alumni and teachers to celebrate the meaningful impact we have created, and will continue to create together.” “We are pleased to have once again achieved outstanding results in alumni’s career progress and overall satisfaction in this year’s ranking. It speaks for our strength in equipping our students with the right skills to create remarkable impact valued by their organisations. We will continue to nurture top business talent through cutting-edge education that integrates Chinese Wisdom and Western Knowhow.” said Prof. Howard Lam, Director of EMBA Programme and Associate Professor of Practice in Marketing. CUHK EMBA is structured around the “six pillars” (Theories, Practices, Internal Network, External Network, Strategic Perspectives and Social Contribution) that aims to enhance the well-being of the business community and society. Relevance and practicality are fundamental to the learning experience it delivers. For more details, please click here to read the full results of the Financial Times Executive MBA Ranking 2022 and visit www.bschool.cuhk.edu.hk/emba to learn more about CUHK EMBA. *Notes: Data is for information only and is not used in the rankings’ calculation. The post CUHK EMBA Ranks 24th in Financial Times Executive MBA Ranking 2022 appeared first on CUHK Business School. |
Oct 17, 2022
| FROM CUHK: The First Month of Vibrant Campus Life at CUHK |
|
CUHK Business School is sought after by high-calibre students. This year, 13 CUHK programmes admitted top students with a score of 33 or above in their best five Hong Kong Diploma of Secondary Education (HKDSE) subjects. Three of the programmes are offered by CUHK Business School, namely, Global Business Studies (GBS), Quantitative Finance (GFIN) and Quantitative Finance and Risk Management Science (QFRM). Andy Chi-pang Tsang (QFRM, Year 1) Enrolled in the BSc in QFRM programme, Andy Chi-pang Tsang is one of the “super top scorers” in HKDSE examination this year.  Since his childhood, Andy has taken great pleasure in studying theories and hypotheses as well as solving complex puzzles. Reveling in the world of logic and Mathematics, Andy regarded QFRM his natural choice in the JUPAS application. Enthusiastically starting his university life, Andy wishes to gain a plethora of experiences from civic engagement such as voluntary work, to interacting with international students and partaking in extra-curricular activities. To Andy, CUHK Business School is “diverse, pioneering and international”. Such characteristics led him to set his heart on CUHK for his tertiary education. “I am confident that my student life here would be wondrously rewarding, for how encouraging and supportive the atmosphere is. It is envisaged that the programme and the School will provide me with countless experiential learning opportunities and equip me with a global, innovative and forward-looking mindset.”  As a cradle for nurturing the next generation of global business leaders, CUHK Business School brings together students with diverse backgrounds, talents and interests. Rangi Wing-kei Chan (MiM) Admitted to the MSc in Management (MiM) programme this year, Rangi Wing-kei Chan was born in New Zealand and raised in Hong Kong.  “I chose CUHK Business School because of its great reputation which was recognised worldwide. Here, postgraduate students come from more than 20 countries and you can meet people from around the world.” Driven by her passion to serve, Ranji was involved in providing different community support, from leading poverty alleviation projects, mentoring children with special needs to interning for a mental wellbeing organisation. Prior to joining CUHK, Ranji dedicated a year in golf and accomplished the Hong Kong Professional Golfers’ Association Certificate. Falling in love with the sport at a young age, Rangi decided to treat it earnestly as a profession at the age of 16. “Now, I am a professional golfer and a full-time student at CUHK. I know this year would be challenging for me trying to balance the two sides of my life, but I am very much looking forward to it.” The post The First Month of Vibrant Campus Life at CUHK appeared first on CUHK Business School. |
Oct 19, 2022
| FROM CUHK: Be True to Yourself and Nurture Diversity on the Road of Leadership |
|
Follow Your “True North” After graduating from The Chinese University of Hong Kong (CUHK), Aaron joined an internationally renowned management consulting firm. It was not a calculated move, but it allowed him to realise one thing – it is not the industry that matters most, but the need to stay with your “true north”. “I enjoy working with teams towards common goals and sharing the success. I am also naturally curious and love to learn new things. That’s why I didn’t stick to one sector in the first place. Instead, I followed my intuition and look for opportunities accordingly. I’ve come across food and beverage, automotive, apparel, and a handful of other industries; the opportunity to learn a new part of the world through entering a new sector, and work with good people to share success always keeps me motivated.” Empower to Innovate The Jardine Restaurant Group has an extensive portfolio that includes widely loved brands such as KFC, Pizza Hut and PHD. However, in order to remain competitive and dynamic in the face of changing markets and consumer behaviours, the group must constantly renew its tactics. Aaron chooses to trust his teams, giving them room to experiment with seemingly outlandish ideas as long as the risks are manageable. Take the “popcorn chicken pizza with Oreo cookies” developed by his Taiwanese team as an example. Aaron said he found it hard to comprehend the idea at first, “With the discomfort of not fully comprehending how the market would receive the product myself, I trusted that our Taiwanese team knew the local market better than I did, especially after they elaborated their approach. They had already done their big data analysis and market research, and believed this “out-there, innovative” concept originating from night markets would be popular. As such, I chose to respect their judgment, which proved to be correct as the product was a hit locally.”  Aaron encourages his teams to embrace their uniqueness. He believes in empowerment and entrusts his teams with autonomy and ownership, which in turn create greater satisfaction at work and better results. Aaron does not consider himself a micromanager. He believes that letting everyone’s unique qualities shine through, if not blossom, is more conducive to success than merely following superiors’ directives. He has unquenchable curiosity. He makes it a point to go online and learn something new every day. He also enjoys interacting with people from different fields, and likes to stay on top of social media trends to get new inspirations and finetune his strategies. “There will always be risks when you try something new. This is because you have to move away from existing practices. However, in the face of an ever-changing market, status quo often is more risky than calculated risk taking, as the cost of missing an opportunity could be way higher.” Tackle Challenges with Culture and Values The outbreak of COVID-19 not only brought immediate impact to the food and beverage industry, but also lasting changes to its ecology. On the consumer front, preferences have switched away from dine-in towards takeaway and delivery. On the supply chain side, in the face of global supply chain disruptions, the ability to tackle supply chain changes and manage risks has never been more important. At the same time, the pandemic has put a strain on people’s lives and changed the way employees interact with work. With the world changing from so many perspectives, Aaron adopts an “A-C-E” management philosophy: “A” stands for agility; “C” is for customer-centricity and; and “E” stands for empathy. Together, these values help enable a laser-focus on customers, the ability to change and adapt, and a work environment where everyone is empowered to be their best self. With the guiding principles laid out, Aaron and his team is continuously working to enhance the offerings for customers, be it better digital experience on ordering platforms, greater customer experience with faster delivery speed, improved product quality with more precise temperature control and consistency, or increased convenience with new store formats. All these initiatives are established to evolve the business constantly in pursuit of a better model. Aaron added, “We want to create a purpose-driven organisation that makes work more meaningful for our employees. We approach this by promoting empathy, from building a people-centric culture, embracing diversity and inclusion, to supporting the communities and embedding sustainability in everything we do.”  “The post-pandemic world is changing faster than ever, with significant shifts in customer patterns, volatile supply chains and employees rethinking their life priorities. Leaders need to stay on top of market changes, enable agility to evolve their business accordingly, all while putting people at the centre of their strategies, “ Aaron shared. Keeping the Passion and Taking Charge of Life Looking back at his days at CUHK, Aaron misses being a part of student societies and the group leader of the orientation camp the most. He enjoyed working with a group of passionate young people to achieve common goals: “From planning events and implementing strategies to motivating people and establishing success metrics, all of these experiences provided a valuable lesson for my future career in business management.” He encourages everyone to be true to themselves, be consistent in both action and mind, and give their best in life and at work so that they will have no regrets. “Everyone has their own ambition, as well as limitation. Only by being genuine, respectful, and true to yourself can you forge a path that’s right for you.”  Aaron (front) was the group leader of the CUHK orientation camp. He is still moved by the passion he shared with his teammates. First published in the CUHK Business School Alumni Portal on 9 September 2022, this article was republished with permission from the School’s Alumni Affairs and Development Office. The post Be True to Yourself and Nurture Diversity on the Road of Leadership appeared first on CUHK Business School. |
Oct 27, 2022
| FROM CUHK: Hong Kong and Singapore Lead Green Fintech Development Among the Five Economies in APEC |
|
Today, GoImpact, an ESG and Sustainability education firm, together with The Chinese University of Hong Kong’s Business School (“CUHK Business School”) released the findings from their working paper, Exploring the Green Fintech Ecosystem in Asia: Insights from Five Economies in APEC. This study finds that government support plays a vital and essential role in facilitating green fintech development, while talent shortage is a common concern in the five economies in the region. Derived from three elements — environment, finance, and technology — the industry report defines green fintech as financial activities that utilise green technologies that bring better environmental outcomes. Industry experts from five APEC economies, namely Hong Kong SAR, China (“Hong Kong”), Indonesia, the Republic of Korea (“Korea”), Singapore and Thailand, have urged policymakers to establish a conducive environment for green fintech to flourish. According to them, governments can help through offering incentive schemes for startups to develop in this area and spearhead the change by setting sustainable regulatory frameworks and mandating disclosures, reporting, and thresholds. The study also suggests that financial institutions should embrace the sustainable agenda to achieve the triple bottom line: profit, people, and the planet. Given the current competitive banking environment and the global shortage of green talent, financial institutions should utilise their unique positions in the business ecosystem to develop more in-house sustainability talent to promote the sustainability agenda, the report further explains. Key findings from the study include the following:
Prof. Kalok Chan, Wei Lun Professor of Finance at CUHK Business School, said, “It is our great pleasure to partner with GoImpact to explore the Green Fintech ecosystem in Asia. This research paper offers a glimpse of trends and insights for the five Asian economies in terms of Green Fintech Ecosystem health, government initiatives and supporting institutions. As one of the leading business schools in Asia, we will also continue cultivating talents with a socially responsible mindset and equipping them with the skills and knowledge to make a positive impact for the betterment of the Green Fintech industry.” Ms. Helene Li, CEO and Co-Founder of GoImpact, said, “The intersection of Capital and Technology is the sweet spot driving the adaptation of Sustainability. We are proud to partner with CUHK Business School on this study that aims to bring a better understanding of the diverse landscape in Asia and a more collaborative lens in working together on this timely agenda.” Li will speak about adopting an active ESG approach for inclusive and green finance at the 2022 Hong Kong Fintech Week on 31 October 2022 to share more insights on the global fintech industry. Download Information The Full Report of Exploring the Green Fintech Ecosystem in Asia is available for download from this link. About GoImpact Bridging the great divide between the talk and action, accelerating the Sustainable Development agenda from intention to implementation – GoImpact means impact made easy and actionable. GoImpact is an ecosystem developed to connect the dots and provide action enablers built around 3 key pillars – GoLearn (education); GoNetwork (structured advocacy); GoInvest (deal flow platform for sustainable investments). Through our integrated learning platform in partnership with top tier education institutions and accreditation channels, we seek to establish a common baseline of Sustainability learning, made easy, for many. Website: www.goimpact.today/home About CUHK Business School CUHK Business School comprises two schools – Accountancy, and Hotel and Tourism Management – and four departments – Decision Sciences and Managerial Economics, Finance, Management, and Marketing. Established in Hong Kong in 1963, it was the first business school to offer BBA, MBA and Executive MBA programmes in the region. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes including MBA, EMBA, Master, MSc, MPhil, DBA and Ph.D. The School currently has over 4,600 undergraduate and postgraduate students from over 20 countries/regions. In the Financial Times Executive MBA Ranking 2022, CUHK EMBA was ranked 24th in the world. In Financial Times Global MBA Ranking 2022, CUHK MBA was ranked 50th. CUHK Business School has the largest number of business alumni (over 40,000) among universities/business schools in Hong Kong – many of whom are key business leaders. The post Hong Kong and Singapore Lead Green Fintech Development Among the Five Economies in APEC appeared first on CUHK Business School. |
Oct 31, 2022
| FROM CUHK: Innovate to Unlock Endless Possibilities |
|
Intrigued by Technology. Fascinated by Decentralised Networks. Both nature and nurture played a role in Hannah’s fascination with technology. In the age of the internet and smartphones, technology has remained an inseparable part of her life. As a teen, her interest in DIY crafts led her to search for tutorials online. “I recall learning from videos posted by people in the US, Taiwan and Japan. I thought to myself that it’s really amazing that technology empowers us to connect and share information with the whole world,” said Hannah. If DIY projects piqued her interest in technology, Hannah’s family guided her future path. She was introduced to the Berkeley Open Infrastructure for Network Computing (BOINC), an open-source middleware system that enables users worldwide to offer their passive graphics processing unit (GPU) capacity for projects of their choice, such as climate tracking or genetic research. “It opened my eyes to the power of network computing. I developed a keen interest in learning more about technology.”  Over time, Hannah contemplated how different technologies can be implemented in diverse contexts to benefit people. “Take the example of blockchain. We can leverage blockchain with IoT (Internet of Things), NFTs (non-fungible tokens) or gamification to achieve greater results, whether it is to improve business efficiency, customer engagement, food safety or sustainability. The possibilities are endless.” Charting the Future of Business with Technology After receiving her bachelor’s degree in 2021, Hannah determined that a postgraduate programme that lets her delve deeply into business topics involving technology would be useful for her professional development. She decided that CUHK’s MSc in Management (MiM) would offer her the best master’s journey. Without surprise, she found herself gravitating to the range of FinTech and blockchain competitions available to CUHK students.     Being able to take part in different projects and case competitions, Hannah enjoyed an intensive yet rewarding year with MiM. One of the competitions she joined was the BOCHK Challenge organised by Bank of China (Hong Kong). “Our team reimagined how banks connect with their customers and employees in the era of Web3 and came up with ‘BOCverse’. While preparing for this project, we became aware of the challenges that traditional banks face as they undergo digital transformation. Our goal was to ideate solutions for resolving their pain points as banking experiences continue to transform. We went on to earn the Innovative Design Bronze Award and the Greatest Teamwork Award.” The Bittersweet Capstone While competitions were enjoyable, it was the Capstone Project that Hannah thoroughly loved and viewed as one of her sparkiest moments at CUHK. The project enables students to interact with real-life business clients and propose innovative, feasible solutions to address their business pain points. “The Capstone Project was a bittersweet and unforgettable moment because it was the programme’s final course and the last presentation we gave. It was very fulfilling to see how much everyone had learnt during the year and to apply that learning in the final presentation to the client. Our team was named second runner-up. Undoubtedly, it was a memorable and inspirational experience for us all.”  Building Skills and Self-Awareness through Challenges Participating in various projects and competitions also enabled Hannah to grow as a person. “One of my greatest takeaways was developing stronger self-awareness. It is an especially important skill for young people because it helps us become aware of our character and where we can use our strengths to make a positive difference.” As a case in point, Hannah delved deeper into her passion and strengths for innovation and technology while participating in the International Blockchain Olympiad. The experience highlighted areas where she could further develop and improve her technical knowledge. “I found it to be an exciting opportunity for personal development. It helped me grow over time through intellectual experiences and step towards a better version of myself.”  Hannah noted how CUHK Business School supported students who were eager to hone their skills. “I can say that my collaboration, creative and analytical skills improved significantly during my one year with MiM.” Cross-Cultural Exposure Broadens Perspectives Hannah moved from Canada to Hong Kong to pursue her BBA and later her master’s degree. During this time, she pursued an exchange programme in Taiwan and attended an entrepreneurship summer academy in Kazakhstan, where she collaborated with teammates from five regions and countries to conduct sustainability research.    Growing up in international places offered Hannah diverse cultural experiences. She enjoys immersing herself in new environments and meeting new people. “Being able to immerse yourself in new environments and meet new people is always a blessing. It helps you grow by broadening your perspectives, experiencing different cultures and learning to interact with people from unique backgrounds. Cross-cultural experiences have helped me become much more open to divergent viewpoints and to aspire towards continuous self-improvement.” Pursuing the Next Node of Growth Currently, Hannah is working with blockchain technology in a professional setting. She aims to further her personal development and challenge herself in all aspects of her life. “I am grateful for where I am in life and will continue striving for positive fulfilment in both my personal life and work.” After living and building connections in Hong Kong for several years, Hannah considers the city to be her home. “Hong Kong holds a very special place in my heart as it is where I’ve had the most personal growth. Over the next few years, it is here that I plan to continue exploring blockchain, technology development and business growth to develop my career. I know Asia is where I want to be in the future. I look forward to seeing all that is possible for me here.”  Thinking of advancing yourself in the new normal? Explore what’s in your future with CUHK Business School’s programmes. Learn more The post Innovate to Unlock Endless Possibilities appeared first on CUHK Business School. |
Nov 1, 2022
| FROM CUHK: MBA Cohorts Meet Their Mentors at the Elite Mentorship Programme Kick-off Dinner |
|
This year, 50 top-notch business leaders have committed to be mentors for 82 MBA students. These senior alumni are business movers and shakers across different industries, from banking and finance, technology, business consulting, FMCG, healthcare, logistics to property development and many more. In the year to come, they will provide one-on-one coaching to help the students thrive in their personal and career development. Organised by the CUHK MBA Alumni Association and the Office of MBA, the EMP was launched in 2003 and has since become an indispensable part of CUHK MBA programme. Benefitting over 1,800 alumni and students to date, the programme offers students an invaluable opportunity to grow their professional network and gain invaluable insights into the latest business landscapes across industries.       The post MBA Cohorts Meet Their Mentors at the Elite Mentorship Programme Kick-off Dinner appeared first on CUHK Business School. |
Nov 14, 2022
| FROM CUHK: CUHK Business School Mourns the Passing of Prof. David Chan |
|
Prof. Chan joined CUHK in 2018 and took the helm of the School of Hotel and Tourism Management. With over 30 years of experience in the industry, Prof. Chan shared a strong passion for nurturing a new generation of young leaders driven by a hospitality spirit, an attitude in hopes of creating a better world by bringing happiness and unforgettable memories for people. With a vision to bring innovation to hospitality business education, Prof. Chan orchestrated countless opportunities for students to develop their potentials and supported faculty members to venture into cutting-edge research and pedagogies. Through thick and thin, it was a tribute to his remarkable leadership that the School of Hotel and Tourism Management reached its new heights. Prior to joining CUHK, Prof. Chan dedicated his career to the world-leading hotel groups, including Peninsula, Regent, Marriott and Hyatt in the US, Australia, Mainland China and Hong Kong. He obtained his PhD in Tourism Management from Sun Yat-Sen University and completed Advanced Management Programme from the School of Hotel Administration at Cornell University. Actively contributing to the development of the industry, Prof. Chan was President of Greater China of International Association of Hotel General Managers and Vice President of China Real Estate Chamber of Commerce, among many other roles he served. Prof. Chan will be dearly missed. He was a great leader, colleague, friend, mentor, and above all, a profoundly kind-hearted gentleman. The spirit, energy and memories he shared will continue to flourish and shine inside every soul he touched. As a way to celebrate his life, Prof. Chan’s family has created an online memorial board for those who would like to leave their thoughts and memories. The post CUHK Business School Mourns the Passing of Prof. David Chan appeared first on CUHK Business School. |
Nov 21, 2022
| FROM CUHK: Taking the Reins of Life, Business and the Family Legacy |
|
Derrick admitted that he has a penchant for “refusing to accept reality”. Yet, it is precisely this doggedness that has earned him both achievements as well as respect. “Once I’ve identified my objective, I’m not going to give up. The construction industry is all about being proactive and problem-solving. I don’t think there are problems that cannot be solved.” Winning Respect from the Frontlines Following his graduation from university, Derrick stayed in the United States to work as a consultant. After a few years, his mother asked him to return home and help out at the family business. Considering that he could have more time to spend with his parents, he left the US and came back to Hong Kong. He started off at the lowest rung of the company and worked on construction sites, hoping to gain experience in construction management. But his colleagues were understandably wary of him. To keep him at a distance, they deliberately assigned him to work at the upper floor office. “I knew I had to be the one to break the ice. So, I went to the construction site every day to check on the progress of the work. I would strike conversations with frontline colleagues and construction veterans to learn about construction progress and operations. Where possible, I would also attend meetings and volunteer to assist. This helped me gain practical experience while also relieving my colleagues’ workload.” Nobody expected the company’s “heir” to roll up his sleeves and get his hands dirty, let alone do the hard work that no one else would – cleaning the sewage pit with his bare hands and getting them covered in sludge. “It’s not as if I was trying to prove anything. However, if there was a problem, stalling or fleeing wasn’t going to cut it.” Despite the hardships, Derrick managed to earn the much-deserved respect of his team with his hands-on approach and conscientious attitude. His experience working at the frontlines also taught him about leadership: “An engineer’s work is full of sweat and tears; it involves reading and collating architectural drawings, as well as careful planning and effective communication. This is how they make sure every unit runs smoothly without making mistakes.” Derrick likened a construction team to a football team, in that success is dependent on everyone working together to achieve common goals while complementing one another.  As an ambitious and goal-focused second-generation leader of a family business, Derrick is a man of his words. His hands-on approach encourages his employees to trust him. Creating the New by Breaking with the Old and Investing in the Future Just as Derrick was making strides in his career, his father passed away unexpectedly in 2010. Losing his orientation, Derrick found it difficult to ascertain whether he should stay on the job. After much rumination, he recalled his father’s teaching: “I still remember working as a volunteer and returning home late at night. My father questioned how much I could do with a single pair of hands, and advised me to focus on gaining professional success first and galvanise ‘a hundred pair of helping hands’ to achieve greater impacts.” Ultimately, Derrick chose to reposition his work and transform the company into a platform that not only continues its mission but also contributes to society. Ever since, he has been actively developing ideas and strategies, while establishing a charity crowdfunding platform to raise funds for sick children and rare disease patients. The construction industry has been fraught with labour shortages. After taking over the company, Derrick was also challenged with people issues. His company’s image suffered a setback due to a construction dispute, and bids placed on construction projects saw no chance of winning at all. Even his human resources colleagues pointed out that “no smart people would choose to work in the company.” After this upset, Derrick resolved to deal with the root cause of this problem. He set up the Elite Program (Management Trainee Program) and hired recent graduates to intern in various departments of his company, in order to groom them to become future executives. He also subsidised continuing education for middle and senior management colleagues, and formed a girl group called “Dream Girls” to promote the industry while projecting an image of diversity and vitality. To encourage more young people to join the industry, he even founded the HKCA Young Members Society and toured around universities for promotion, hoping to bring together young people who are interested in pursuing careers in construction. Derrick jovially remarked that whenever he comes up with new ideas, others are always quick to dismiss them. Nonetheless, he would stick to his beliefs, even if others thought him naïve: “When I set my mind on achieving something, I will see it through, regardless of the challenges.”  “By figuring out your objectives and setting your sights farther, you will naturally find solutions to problems. That is true for construction project planning, management as well as life itself, “ said Derrick. In addition to nurturing talent, Derrick also sets his sights on site safety. He bemoaned how society has become acclimatised to construction site accidents. However, human lives are at stake, and no amount of compensation can make up for the families of the dead who have lost. Tragedy can be avoided only by clearly defining safety responsibilities and raising safety awareness. “Fortunately, there is industry consensus on this. But what I hope to achieve is sustainable development, not flashy ‘fireworks’ that look great but vanish in the blink of an eye.” Humility, Sincerity, Positivity Pursuing an EMBA at the Chinese Business School allowed Derrick to meet successful people from various industries. This experience taught him to stay humble and helped him make new friends and confidants. He was particularly impressed by the masterclass “I Ching and Leadership”: “There is always a turning point, whether things are going in your favour or against you. It is necessary to consider both positive and negative aspects of everything, keep an open mind and chart a course forward.” He urged young alumni to maintain a humble, sincere and studious attitude while awaiting opportunities, without counting what they have to offer. “We all have our own problems and shortcomings. Only by facing problems bravely can we overcome our limitations, grow and take control of our lives.”   Derrick (top: back row, first from left; bottom: second last row, fifth from right) enjoyed his EMBA studies alongside business leaders from various industries. First published in the CUHK Business School Alumni Portal on 6 October 2022, this article was republished with permission from the School’s Alumni Affairs and Development Office. The post Taking the Reins of Life, Business and the Family Legacy appeared first on CUHK Business School. |
Nov 23, 2022
| FROM CUHK: Hong Kong’s Top-ranked Innovative Companies Announced at Corporate Innovation Index Awards Presentation and Forum 2022 |
|
The Corporate Innovation Index (CII) Awards Presentation Ceremony and Forum 2022 was held today at Cheng Yu Tung Building in the Chinese University of Hong Kong (CUHK) to honour the top-ranked innovative corporations and SMEs in 2022. Commissioner for Innovation and Technology Ms. Rebecca Pun Ting-ting and Legislative Council Member (Technology and Innovation Constituency) the Hon Duncan Chiu were invited as guests of honour to officiate and present awards at the ceremony, together with CUHK Vice-Chancellor and President Professor Rocky S. Tuan and CUHK Business School’s Dean Professor Zhou Lin. In response to the Hong Kong government’s mission to develop Hong Kong into an innovation hub, the Asia-Pacific Institute of Business (APIB), the executive education arm of CUHK Business School, launched CII in April 2021, with The Hong Kong General Chamber of Commerce (HKGCC) as a strategic partner. The project is initiated by APIB’s Executive Director Professor Cheung Waiman and is funded by the Innovation and Technology Commission (ITC) of the Hong Kong government under the General Support Programme (GSP). With the aim of energising Hong Kong’s economy with innovation in the digital age, CII is designed to provide an innovation management and assessment tool that helps promote innovation culture, enhance innovation capabilities and recognise achievements in technology adoption among large corporations and SMEs in Hong Kong. It recruited more than 200 companies to undertake the CII 2022 survey questionnaire, which examined their innovation performance during 2021. The companies come from a wide range of industries, including retail, trading and logistics, manufacturing, tourism and hospitality, business and professional services, financial services and fintech, property, construction and proptech, information, technology and communication, healthcare and biotech. Speaking at the awards presentation ceremony, Professor Rocky S. Tuan said, “Innovation, sustainability, and social responsibility are at the heart of CUHK’s vision and mission. We seek to become an agent of positive change in knowledge, attitudes and practices in relation to innovative and sustainable development of Hong Kong and elsewhere, and we believe that there is plenty of room and opportunities for the University to collaborate with the industry and the Government. Today, we are thrilled to unveil the inaugural ‘Hong Kong Corporate Innovation Index’ to celebrate the achievements of the top-ranked companies, as well as to inform policymakers on the current trends of innovation in the Hong Kong corporate landscape for the advancement of the innovation and technology ecosystem in Hong Kong.” Congratulating APIB on its successful inaugural CII, Ms Rebecca Pun said, “Innovation and technology (I&T) provides key impetus for Hong Kong’s high quality economic development. We will further enhance the I&T ecosystem and re industrialisation. Particularly, we will introduce a new funding scheme, namely, the ‘Research, Academic and Industry Sectors One-plus Scheme’, ‘RAISe+ Scheme’ in short, in the coming year to provide funding on a matching basis for research teams in universities which have good potential to become I&T start-ups, so as to encourage more collaboration among industry, academic and research sectors to drive the ‘1 to N’ transformation of outstanding R&D results and the tech industry development.” The Hon Duncan Chiu added, “I would like to express my heartiest congratulations on the success of the Corporate Innovation Index Awards Presentation Ceremony and Forum 2022. This event provided those aspiring to drive innovation and transformation with a unique exchange experience where creativity is encouraged, expertise in application of technology is cultivated, and enterprises’ attainment of excellence and innovation is recognised.” Professor Zhou Lin remarked, “By introducing the first-of-its-kind corporate innovation index in Hong Kong, we hope to extend our culture of innovation to the wider community and create a network of cross-sector experts in business innovation.” Top 20 CII Constituent Companies and 25 Star Award SMEs in 2022 were honoured at the ceremony. WeLab Bank, HSBC and Hang Seng Bank were awarded the top three innovative corporations for achieving the highest scores in the CII 2022 survey. [For the CII 2022 top-ranked constituent companies and star award SMEs, please refer to appendix.] The forum was divided into two sessions, one for corporations and the other SMEs, Lessons Learnt from Making Innovative Enterprises and SMEs Achieving Innovation Key Success Factors and Overcoming Challenges in Hong Kong. CUHK Business School’s Associate Professor of Practice in Management Professor Toa Charm and Associate Professor of Practice in Entrepreneurship Professor Dominic Chan, CUHK’s Faculty of Engineering Professor of Practice in Financial Technology Professor CK Chan, and HKGCC’s Smart City Working Group Convener Mr Patrick Lee jointly moderated the forum. When addressing at the Forum, Mr Patrick Lee said, “We have embarked on an important journey to identify the success factors of innovation for companies big and small.” CII online assessment tools, guidebooks and a series of seminars and workshops are now available to help companies rev up their innovation practice. Meanwhile, CII has launched its 2023 Survey; recruitment of participants is already in progress. For details, please visit: https://exed.bschool.cuhk.edu.hk/join-cii/      APPENDIX Corporate Innovation Index 2022 Ranking Corporate Innovation Index 2021-2022 CII Constituent Companies:
Three-Star Award SMEs: (7) – in alphabetical order
In response to the Hong Kong government’s call to develop Hong Kong into the innovation hub of the region, APIB of CUHK Business School has established conceptual framework of corporate innovation for Hong Kong in the digital age, developing a set of measurement matrices called the Corporate Innovation Index (CII). It will recruit hundreds of large corporations and SMEs to participate in the CII ranking annually. CII aims to promote awareness and the importance of innovation among Hong Kong corporations in the fast-changing, digital age; recognise top-ranked innovative companies and help participating companies to benchmark against and learn from industry leaders; strengthen the innovation capabilities of Hong Kong corporations and business leaders through education and training; and inform policymakers on the state of and current trends in corporate innovation in Hong Kong to facilitate the formulation of public policies that advance the sustainability, competitiveness and reputation of Hong Kong companies locally and internationally. CII is funded by the Innovation and Technology Commission (ITC) of the HKSAR, under the General Support Scheme (GSP). For more details, please visit: https://exed.bschool.cuhk.edu.hk/zh/corporate-innovation-index/ About CUHK Business School CUHK Business School comprises two schools – Accountancy, and Hotel and Tourism Management – and four departments: Decision Sciences and Managerial Economics, Finance, Management, and Marketing. Established in Hong Kong in 1963, it was the first business school to offer BBA, MBA and Executive MBA programmes in Asia. Today, CUHK Business School offers 10 undergraduate programmes and 20 graduate programmes, including MBA, EMBA, MAcc, MSc, MPhil, DBA and PhD. The school currently has more than 4,600 undergraduate and postgraduate students from more than 20 countries and regions. In the Financial Times Executive MBA Ranking 2022, CUHK’s EMBA was ranked 24th in the world. In Financial Times Global MBA Ranking 2022, CUHK’s MBA was ranked 50th. CUHK Business School has the largest number of business alumni (more than 40,000) among universities and business schools in Hong Kong – many of whom are business leaders. www.bschool.cuhk.edu.hk The post Hong Kong’s Top-ranked Innovative Companies Announced at Corporate Innovation Index Awards Presentation and Forum 2022 appeared first on CUHK Business School. |
Nov 28, 2022
| FROM CUHK: CUHK Business School Launches MSc in Information Science and Technology Management Programme |
|
The first of its kind, MSc in ISTM is a one-year full-time master programme, joining the hands of CUHK Business School and Faculty of Engineering to offer the best-in-class teaching and research in business and technology. Enhancing from the current programme MSc in Information and Technology Management, the new programme provides even more flexibility in its curriculum and course selection. Based on individual needs and interests, students can choose to take more technical or managerial courses, from a wide spectrum of training on blockchain, big data management, FinTech and social media analytics, etc. Students can also choose to take one course offered by other Master’s programmes in CUHK Business School or the Faculty of Engineering to meet their quest for knowledge out of the box. Anyone who aspires to elevate their knowledge in information technology and business acumen, especially recent graduates and young professionals, will find the programme practical and insightful. Students are expected to gain an advanced and holistic understanding of the professional landscape. They will enhance their ability to think and act from multiple perspectives and effectively speak the language of people from across disciplines. Practicum training is also available for students to put their knowledge to the test in a real business setting. “The curriculum is designed to provide maximum flexibility. No matter from business or computer science and technology in their undergraduate study, students can choose their courses according to their abilities, interests and future plans,” said Prof. Weiquan Wang, Programme Director of MSc in ISTM Programme. “The demand for talent proficient in both business and technology is soaring and opportunities are everywhere. The programme aims to prepare the students to become business technology champions in industries such as consultancy, banking, fintech, education and more.” With its vast corporate network, CUHK Business School’s Career Management Centre will provide comprehensive career support for students of MSc in ISTM Programme through an array of professional skills workshops, networking seminars and recruitment programmes. Please visit the programme’s website to learn more details. The post CUHK Business School Launches MSc in Information Science and Technology Management Programme appeared first on CUHK Business School. |
0 user online
Switch to Desktop Site