HKUST Business School [SBM] Newsletter (Issue 19)

Abstract

[evdate 2003-08-15] HKUST Business School Newsletter Issue 19 HKUST Business Leadership Forum page 3 Companies Learn from the Best page 2 PhD Students in Demand page 9 PhD Students in Demand page 9

HKUST Business School Dean: K.C. Chan Associate Deans: Gary Biddle, Steve DeKrey, Kar Yan Tam Newsletter Editors: Elaine Chu, May Hung Sub-editor: Virginia Unkefer Writers: Charles Anderson, Kathy Griffin Contact us: bmpr@ust.hk Fax: (852) 2358 1467 Website: www.bm.ust.hk (c) 2003 by the School of Business and Management, the Hong Kong University of Science and Technology. All rights reserved.

From the Dean We live in a time full of challenges. Events that took place globally and locally since the onset of the second quarter of 2003 have created an impact on many facets of our lives. These include the war on Iraq and its related incidents, the outbreak of SARS and the recent peaceful mass demonstration in Hong Kong. The bright side is that such challenges provide an unusual kind of dynamism for us to reflect on what the core values are that we should cherish and nurture so that in times of change we not only can cope but also remain competitive. The School's new event - "The HKUST Business Leadership Forum" - encapsulates such thinking. As a combined event between the Beta Gamma Sigma HKUST Chapter and the Business Mentoring Program, the event signifies five important qualities. The first three are embedded in the three Greek words,

i.e. Beta, Gamma and Sigma, which respectively mean "honor", "wisdom" and "earnestness". The other quality is the gist of the Business Mentoring Program -

"connectivity", while the overarching quality is "leadership", as embraced in the

title of the event. Such virtues guide the development of the HKUST Business School and the way we develop our students. As reported in this newsletter, the School remained a vibrant center of activities

amid the recent challenges. The second half of the year looks set to be even more eventful. In September, the Kellogg-HKUST EMBA 5th Anniversary Homecoming Dinner, which was delayed due to SARS will be held. We will also be hosting Hong Kong's first international case competition. I look forward to providing you with more updates through these columns. K.C. Chan Dean HKUST Business School Contents From the Dean 1 News 2-6 {????}Companies Learn from the Best {????}Recognition for Quality of Research Output {????}Global Exposure for Leadership Students {????}HKUST Business Leadership Forum {????}Lessons from SARS {????}In Memory of Derek Ho {????}Honors for Teaching {????}New Committee to Steer MBA Program {????}Advisory Board Member is New HKEx Head {????}External Appointments for Dean Chan {????}Top Journals Appoint HKUST Expert {????}A Community of Interests Research 7-8 {????}Seeing Red? Blame It on the Screen Color {????}Emotional Intelligence in the Workplace Students & Alumni 9-11 {????}PhD Students in Demand {????}Research Students Honored {????}Grand Awards for Accounting Students {????}A Capital Adventure for MBA Students {????}Young People Told to Nurture a Nimble Mind {????}Quality Time for Manager {????}Alumna Tops by All Accounts China News 12 {????}Visit to Peking University {????}SRO for Yan Xu in Shenzhen {????}Shanghai Alumni Gathering {????}Talk by Wal-Mart China President People 12 {????}Faculty Promotions and Appointments Photo on this page - courtesy of Robert Lendrum / HBL Network 2 News Companies Learn from the Best HKUST's executive education programs for companies are among the best in the world, ac5cording to a major international survey by the Financial Times. The survey measured the responses of companies which purchased the programs, as well as the strength and diversity of the business schools offering them. The HKUST Business School placed 28th of 50 ranked schools, making it the best performer in Asia. It also came out ahead of business schools outside the region, such as Warwick (30th), UC Berkeley (34th), the University of Chicago (37th) and the University of Toronto (49th). The Business School offers customized executive education programs tailored to meet the needs of sponsoring companies. Participants reported a high level of satisfaction. The School ranked 19th in terms of "value for money" and "future use", meaning the company would use the School again. The faculty diversity was ranked fifth in the world. Dean K. C. Chan said high-end executive education offered rewarding opportunities for faculty to transfer the best and latest management knowledge to leaders in the business and public sectors. "In the currently challenging times facing Hong Kong, nothing is more important for companies to stay ahead than equipping their senior staff members with the necessary knowledge and skills in a timely manner," he said. The survey covered programs conducted in 2002. During that time, HKUST Business School organized 25 customized programs for 20 companies and organizations, of which seven were multinationals headquartered in Europe or the US, eight were major companies from the mainland and five were companies and non-profit organizations in Hong Kong.

Recognition for Quality of Research Output The Business School ranks among the world's best in terms of quality research in operations management and information systems, an international study has reported. The study which reviewed 1,692 academic units worldwide that specialize in the field placed HKUST in 12th place based on research output from 1997 to 2002. Professor Kar Yan Tam, head of the department of information and systems management, said the results showed HKUST's research capabilities were being recognized at an international level. "In the past few years, we've been building up a great momentum, with a lot of good people publishing scholarly work at the highest international standard," he

said. The study, by ORMS Today, looked at frequency of publications in the four top journals in the field - Management Science, Operations Research, Information Systems Research and the INFORMS Journal on Computing. This was considered to be a fair measure of scholarship and academic achievement.

Kar Yan Tam Financial Times Ranking of Executive Education Programs in Asia-Pacific (Customized Programs) School Ranking 1. HKUST Business School 28 2. Australian Graduate School of Management 33 3. Mt Eliza Business School 45 4. China Europe International Business School 50

3 Newsletter Issue 19 HKUST Business School

Global Exposure for Leadership Students International experts on development in China and the global AIDS crisis, together with business leaders and a top jewelry designer lectured at the University in the spring semester, providing students with direct exposure to people who make a difference.

These distinguished speakers were invited under the new general education program, "Innovation and Leadership in the 21st Century", for undergraduate students including those from the Global Business Program.

They included the chief of the United Nations development program in China, Kerstin Leitner, founding scientific director and CEO of the Aaron Diamond AIDS Research Center, David Ho, CEO of Cathay Pacific Airways, Philip Chen, vice-chairman and chief executive of Hang Seng Bank, Vincent Cheng, internationally renowned jewelry designer, Kai Yin Lo, HKUST's vice-president for research and development, Prof Roland Chin, and associate dean Prof Kar Yan Tam. All talks were followed by an interactive question-and-answer session between the speakers and the participating students. The Innovation and Leadership program was conceived by University Council member Ronnie Chan, chairman of Hang Lung Group, and President Prof Paul Ching-Wu Chu to expose students to real-life situations in business and the community. Prof Alvin So, associate dean of the School of Humanities and Social Science, was director of the program. David Ho Philip Chen HKUST Business Leadership Forum Tim Lui, Beta Gamma Sigma HKUST Chapter Honoree, gave an insightful talk on the subject of "Leadership" at the School's new regular downtown event, the HKUST Business Leadership Forum, in July. The Forum was co-hosted by the Business Mentoring Program of the Undergraduate Programs Office and the Beta Gamma Sigma HKUST Chapter. The event facilitated interactions and exchanges among chapter members, participants in the mentoring program and the business community. It attracted an audience of 200. Tim Lui, a Beta Gamma Sigma Honoree since 2001, is a tax partner of PriceWaterhouseCoopers and the treasurer of the University. Lui was president of the Hong Kong Society of Accountants in 1997 and is currently chairman of the society's taxation committee. The event also coincided with the 7th meeting of the Business Mentoring Program , which has now garnered support from non-profit organization Friends Unlimited and from the alumni of the School's EMBA, MBA and undergraduate programs. The University's Student Affairs Office provided invaluable assistance in the liaison between the mentors and mentees. Tim Lui (second from the right) receives a token of appreciation from representatives of the School. From left: Prof Gary Biddle, president of Beta Gamma Sigma HKUST chapter, Dean K.C. Chan, and Prof Kar Yan Tam, undergraduate programs director. Ten mentors have been involved with the Business Mentoring Program three times or more. The pictures above and on the right show some of those mentors with Luke Wong, director of student affairs (far left) and Prof Kar Yan Tam (far right). 4 News Lessons from SARS The outbreak of SARS brought the futuristic, Internet classroom to life for staff and students who had to continue their work without live instruction. It proved to be an interesting lesson in the benefits and limits of web technology as a teaching tool. At the Business School, visiting speakers canceled, EMBA students from outside Hong Kong were not allowed to fly in, and all other students and staff had the option of not attending classes. "Institutions like universities are not known for crisis management, yet here we were offering classes with no attendance requirement and no faculty. No one says it's comparable to having live instruction, but under the circumstances it was reasonable," Associate Dean Steve DeKrey said. The speakers' course for the MBA - normally dependent on attendance - had to be restructured so students could watch videos and do more reading and writing assignments. The EMBA course turned to live webcasts - an expensive option, but one that enabled students to stay on track. The e-commerce course for MBA students shifted entirely on-line, with videotaped lectures, on-line case discussions and web logs, or blogging, a less structured forum for discussion. Paul Forster, assistant professor of information and systems management, had high expectations of the first two, but in fact blogging was the most successful tool. "What I learned from all this was that experimentation is very important. On-line learning requires heavy investment and preparation to provide quality materials and monitor interaction with students - definitely more than a live lecture," he said. "MBA students want in-class interaction, that's what they are paying for. On-line teaching doesn't replace that, but you could include an on-line component," he added. The head of the department of information and systems management, Prof Kar Yan Tam, said the difficult situation forced the various programs to explore different ways to deliver lectures and course materials. "It was a valuable experience to both the teachers and students," he said. Everyone agreed that web technology was a supplement - not a replacement - for live classroom instruction, Dean K. C. Chan said. This applied to both undergraduate and graduate students. "Interaction between the teacher and students is a very important part of the teaching and learning experience. There is no way you can replace a live person," he said. "However, the advanced technology and state-of-the-art electronic media available at HKUST provided us with the tools to continue with teaching and learning by various creative ways." Paul Forster In Memory of Derek Ho The Business School was deeply saddened by the loss of one of its alumni, Derek Ho, to SARS. Derek graduated in 1997 with a BBAISMT. He was an Amoy Gardens resident when he contracted SARS in early April. He passed away a few weeks later. Derek is remembered for his kindness and his passion for delivering Internet services to the people of Hong Kong. Our heartfelt sympathies are extended to Derek's family and friends. Innovative teaching and learning methods kept courses running during the SARS outbreak.

Picture shows MBA students celebrating the completion of a management course with a mask free dinner at the Yacht Club, hosted by Prof Steve DeKrey (fourth from left).

5 Newsletter Issue 19 HKUST Business School Honors for Teaching Honors for Teaching Five professors from the Business School have been given top marks by students in a poll of undergraduates. About 2,600 students, representing more than half of all undergraduates, selected Professors Jong Hag Choi (2nd from left) and K. P. Ramaswamy (4th from left) from accounting, Professor Tridip Ray (5th from left) from economics and Professors Percy Dias (3rd from right) and Mike So (far right) from information and systems management as being among the "Best 10 Lecturers" at HKUST. The awards were organized by House II, one of the halls for undergraduates, and presented in February. Meanwhile, the HKUST Business School Franklin Prize for Teaching Excellence was presented to the following five professors in May: Year One Teaching Tridip Ray Assistant Professor Economics Year Two Teaching Inseong Song Assistant Professor Marketing Year Three Teaching Clive Lennox Assistant Professor Accounting MBA Required Courses Albert Ha Associate Professor Information and Systems Management MBA Non-Required Courses and MSc Teaching Suren Mansinghka Adjunct Professor Finance

New Committee to Steer MBA Program A new committee consisting of professors closely involved with the MBA program has been set up to chart its future development. The 10-member committee appointed by Dean K.C. Chan is chaired by Albert Ha, associate professor of information and systems management. Prof Steve DeKrey, the MBA program director, is secretary to the committee. Other members include: Vidhan Goyal, associate professor of finance; David Li, associate professor of economics; J.T. Li, associate professor of management of organizations; Suren Mansinghka, adjunct professor of finance; Steve Nason, visiting assistant professor of management of organizations; Chris Westland, professor of information and systems management; T.J. Wong, professor of accounting; and Rami Zwick, professor of marketing. Prof DeKrey said the committee would play an important role in facilitating the exchange of ideas among MBA faculty. "This is an important development in the management of the MBA program. We expect the program to benefit in terms of both the teaching and learning quality, from the input of this committee," he said. Echoing Prof DeKrey's view, Prof Ha said: "We look forward to working closely with the MBA office to further enhance the program, the high quality of which is already well recognized both locally and internationally."

6 News Top Journals Appoint HKUST Expert Three leading international journals have appointed Albert Ha, associate professor of information and systems management, as an editor of their publications.

Ha has been named senior editor of Manufacturing and Service Operations, where he has served on the editorial board for the past three years. He has also been re-appointed associate editor of Operations Research and Management Science, having served both publications in that position for the past two and a half years. All three publications are considered among the best in their field. Ha recently completed a one-year appointment as deputy head of his department. He joined HKUST in 2001 from the School of Management of Yale University.

External Appointments for Dean Chan Dean K. C. Chan, has been asked to share his wisdom and knowledge on three external bodies. The Hong Kong Government has invited him to join the high-powered Strategy Group to revitalize Hong Kong's economy in the wake of SARS.

The AACSB International - The Association to Advance Collegiate Schools of Business has appointed him a member of the Maintenance Accreditation Committee from July 2003 to June 2006. The AACSB is the premier accreditation agency in the US for business administration and accounting degree programs.

Dean Chan has also been named an independent non-executive member of the board of directors of Wharf T&T, effective 1 June this year.

Advisory Board Member is new HKEx Head Paul Chow, a member of the Business School's Corporate Advisory Board, has been appointed Chief Executive of the Hong Kong Exchanges and Clearing. Chow has sat on the Advisory Board for more than three years. The Board is comprised mainly of senior business executives who offer advice on the direction and future development of the School. Another Board member, Martin Tang, has stepped down and will be joining the University Grants Committee. The School thanks Tang for his contribution as one of the founding members of its Corporate Advisory Board. Paul Chow

A Community of Interests Community involvement by students and staff is not just an exercise in civic duty. It can bring benefits to both the university and Hong Kong. Associate Dean Steve DeKrey has strong links with three non-profit organizations and he believes the gains have been two-way. "I do it out of a commitment to Hong Kong, but also as a way to bring HKUST's name out there. If you don't give, you don't get," he said. As a member of the oldest Rotary Club in Hong Kong, he meets regularly with prominent business leaders, whom he taps to lecture at HKUST. As a member of the board of the American Chamber of Commerce, he set up an education committee which looked at how to help Hong Kong improve its education system. Prof DeKrey is also a charter board member of US-based Junior Achievement, which is coming to Hong Kong. Junior Achievement offers practical business education to school-age children, for instance by getting businessmen to visit schools. He has asked fellow members of AmCham and the Rotary Club to participate. Prof DeKrey's community work also has the occasional personal benefit. During a recent Rotary golf tournament, he shot 43 based on his handicap - his best game ever.

7 HKUST Business School Newsletter Issue 19 Research Newsletter Issue 19

Seeing Red? Blame It on the Screen Color It's 9.15 am on a Monday morning and bleary-eyed Jason Yeung, executive assistant to the chairman of a busy Hong Kong firm, is ordered by his boss to do last minute research for a meeting that starts in 15 minutes. Jason finds the right website easily enough, but downloading the information is proving, as usual, to be an exercise in frustration. A bright red screen pops up during the download, flashing announcements about other services. Jason drums his fingers on his desk, muttering "Come on!" under his breath. The clock is ticking down and he has a pile of other things to do. After what seems an eternity, the document finishes downloading. But Jason has started his working week in a knot of tension. Jason's problems are not only related to his boss's rushed demand and the flashing announcements. The background color of the website is likely contributing to his tension and making him feel less favorable about the site itself. Research by Gerald Gorn and Jaideep Sengupta of the department of marketing and other collaborators suggests the background screen color on a website during downloads affects a person's perception of the speed of the download. This is because some colors make people feel more relaxed than others. For example, blue is a more relaxing color than red or yellow, as they confirmed in an experiment with undergraduates. When a blue page popped up, the students thought the download time was shorter, even though it was the same as other hues. They also reported that they felt more relaxed looking at a blue screen. "One of the biggest criticisms consumers have about using the Internet is that it often takes a long time to download web pages," the authors said. "While the objective speed of a download is important in a user's perception of its speed, other factors are involved as well. We suggest that one factor is the background screen color that typically first appears when a download is in progress." In addition to the hue, the researchers looked at the "chroma" and "value" of colors. Chroma is the saturation of a color. Highly saturated colors have a greater proportion of pigment in them, making them rich and deep. Value refers to the degree of whiteness or blackness of a color. High value colors look as if white has been mixed into them, giving a pastel appearance. Colors that have a lower chroma (i.e. lower intensity) and higher value (i.e. more pastel like appearance) also made the subjects feel more relaxed and perceive that the waiting time for a download was shorter. However, one moderating factor was the number of times the students were exposed to a slow download. Red or blue, they felt less relaxed with repeated exposure, although more so with red. The findings help to identify a source of frustration for Internet consumers, but they also have practical value. People viewing a screen with a more relaxing color were more likely to say they would recommend the site to a friend. Their opinion of the site was therefore affected by the screen color. "Our findings should help guide managerial decisions on the design of web pages," the authors said. "They suggest that a manager give consideration to each of the dimensions of color and select colors for the screen that make people feel relaxed during a wait, thus influencing perceived quickness." Bright colors may help call attention to a product, but pastel blues and greens are the better bet if website operators want to keep their customers from seeing red. From: "Effects of Screen Color on the Perceived Quickness of a Download: The Mediating Role of Relaxation," by Gerald Gorn, professor of marketing at HKUST; Amitava Chattopadhyay, professor of marketing-innovation and creativity at INSEAD; Jaideep Sengupta, associate professor of marketing at HKUST; and Shashank Tripathi, manager of Strategic Alliances, Dentsu, in Japan. The paper has been accepted for publication in the Journal of Marketing Research. Gerald Gorn (left) and Jaideep Sengupta 8 Research Emotional Intelligence in the Workplace "Emotional intelligence" - or EI - is an important factor in determining an individual's career choice and job performance and has implications for managers and job-seekers, according to research produced at the Business School. Kenneth Law of the Business School's department of management of organizations has collaborated on several recent studies on EI in the workplace with Chi-Sum Wong of Chinese University and others. Little research has been produced on the topic, so the authors were covering new ground. In one study, 142 workers were evaluated by their peers and supervisors and also completed self-evaluations. A worker's EI was found to be a significant factor in predicting how supervisors and peers rated their job performance and organizational citizenship behavior. "This [finding] is very important for organizational research. It is well known that mental intelligence is a good predictor of job performance. Management researchers are eager to find alternative predictors," the authors said. "EI [is] another possible candidate." EI, in simple terms, is the ability to perceive, understand and manage one's emotions. Law and his colleagues argued that EI is an ability, rather than a personality trait which would involve choice and preference. EI is also something that can improve over time. Apart from having an impact on job performance, the researchers found EI played a role in job satisfaction in a separate study of 307 workers from different occupations. The workers were asked to evaluate their EI and report on their job and life satisfaction. They were divided according to six vocational types: realistic (in this case, bus drivers), investigative (computer programmers), artistic (designers), social (teachers), enterprising (shop managers) and conventional (clerks). The authors were especially interested in seeing if there was a link between EI and social jobs, which have a high level of "emotional labor". This requires workers to present a particular kind of emotion as a job requirement regardless of how they feel (think of flight attendants). A person with a higher EI would be expected to be better at managing and controlling their emotions. In fact, EI had a significant effect on both job satisfaction and life satisfaction. It also affected the relationship between emotional labor and job satisfaction, so a person with a higher EI would find greater satisfaction in a job with emotional labor demands than someone with a lower EI. "This study is the first attempt to hypothesize and test the role of EI in various occupations," the authors said. "While the results may be preliminary, they are encouraging and lead to important implications in the selection and career development context." They added more study should be done on the subject. The role of EI in another type of performance - academic results - was also investigated, although the results were less clear-cut. Students from a high school in Anhui Province were asked to rate their EI. Their parents were also asked to rate the student's EI. This was measured against exam results and a mild correlation between EI and mental intelligence was found. More significantly, parents' assessment of their child's EI was found to be a better predictor of life satisfaction than the student's own assessment, lending support to the idea that EI could be improved and developed over time. The student study was reported in the same paper as the study on job performance. The authors noted this paper contributed three significant things to the study of EI. It provided empirical evidence that EI is a form of intelligence, it applied testing methods that were new to the field of EI and, for the first time, it used peer ratings of EI to predict job performance. From: "Emotional Intelligence as an Intelligence Facet: Construct Validation and its Predictive Power of Job Outcomes" by Kenneth Law and Lynda Song of HKUST's department of management of organizations and Chi-Sum Wong of Chinese University's department of management. "The Interaction Effect of Emotional Intelligence and Emotional Labor on Job Satisfaction: A Test of Holland's Classification of Occupations" by Chi-Sum Wong of Chinese University's department of management, Ping-Man Wong of the Hong Kong Institute of Education's department of educational policy and administration and Kenneth Law of HKUST's department of management of organizations. Kenneth Law 9 HKUST Business School Students & Alumni Newsletter Issue 19 PhD Students in Demand PhD Students in Demand The Business School's PhD graduates have been in demand at universities in the region, with the program recording full employment for all of its 10 graduates this year. Eight out of the 10 will be working outside of Hong Kong, with two going to Australia (respectively the University of Melbourne and Monash University), three to Singapore (Nanyang Technological University, National University of Singapore and Singapore Management University), and three to the mainland (Peking University, Tsinghua University and Zhongshan University). Program Director Prof Kevin Chen said the placement success was an endorsement of the quality of the School's research program and its graduates. "Our graduates set their eyesight on the global academic market and they did very well. This will continue to be the placement objective of our program," he said. The Business School began to offer Master of Philosophy (MPhil) and Doctor of Philosophy (PhD) programs in 1992, there have been 30 graduates so far including this group of 10. Overall, about one-third are working in universities in the US, Australia and other Asian countries. Forty per cent are employed by local universities and 17 per cent by mainland universities. The remainder are working in non-academic professions. Parting shot Eight of the 10 graduating PhDs take a photo together. From left are (back row) Yuk Ying Chang, Ming Jian and Catherine Yeung, (front row) Xin Chang, Jiwei Wang, Wei Wei Fan, Tao Li and Adrian Cheung.

Research Students Honored The second annual PhD Student Research Paper Competition came to a close in May when two winning candidates were selected. Hung Wan Kot of the finance department won the competition in the senior category (Year Four), for his paper "Do Financial Analysts' Forecasts Really Proxy for Investors' Opinion?" Zhihong Chen of the accounting department won in the junior category (Year Three or below) for his paper "Does Firm-specific Return Variation Reduce Mispricing of Accounting Earnings?" The winners were each awarded HK$5,000. Ten submissions were received in total, including those from two other finalists, Yuanto Kusnadi of the finance department and Zihui Ma of the economics department. Judging panel members said they were impressed by the quality of both the presentations and research produced by the students. The competition was set up last year to promote an active and competitive research environment in the Business School's PhD programs. From left: Hung Wan Kot, Yuanto Kusnadi, Zhihong Chen, Zihui Ma, Prof Kevin Chen, PhD program director, Dean K.C. Chan, Profs Larry Qiu (economics), Peter Chen (accounting). David Bodoff (information and systems management), and Jiang Luo (finance). 10 Students & Alumni A Capital Adventure for MBA Students Two teams from the Business School were joint winners at an international business plan competition that also gave them access to venture capitalists. The University of San Francisco International Business Plan Competition is one of the premier events of its kind. It is open to graduate students from around the world. The two HKUST teams were the only entries from an Asian university to make it to the semi-final round, where the top 25 teams compete. They shared the US$1,000 International Business Prize. The overall champion was an entry from the University of Michigan, Mobius Microsystems. In the competition, students submit a 3-5 page business plan proposal and make a presentation before the judges. "However, the real prize is the chance to offer your business proposal before leading Silicon Valley venture capitalists and chief executives" who are the judges, HKUST team member, Mary Yu, said. Yu, an MBA student, was part of a team proposing to use technical innovations to provide international roaming services at a 70 per cent lower price and with a 50 per cent higher profit margin than currently available. Her partner in Unified Communications Ltd was Agnes Ng. The other team was Grace Liang Guizhen and Cheryl Ng, whose proposal concerned a start-up company, Shenzhen Denste Technology. The company focuses on digital energy systems using wind power, natural gas, electricity and other fuel sources. They are developing an automated system to ensure more efficient power transmission. Yu said the competition exposed them to standards of excellence and enabled them to be ambassadors for HKUST. They also discovered that biotechnology was the latest "hot topic" with venture capitalists, and they developed a network of friends and contacts, she said. The four students are donating their $1,000 prize to the MBA office as a thank you for the School's support and to encourage other MBA students to participate.

Grand Awards for Accounting Students Two accounting students have recently received awards in recognition of their academic excellence and service to the community. Maximillian Wong, Accounting Year-Three, received a HK$100,000 scholarship for his selection as one of three outstanding students by the Chinese General Chamber of Commerce in a ceremony in July.

The "Chinese General Chamber of Commerce Excellence Awards for Tertiary Students" were established by the chamber on its 100th anniversary to honor university students who not only have achieved distinguished academic results, but also displayed outstanding qualities in his/her dedication in serving the community. Maximillian Wong is an active participant in many extra-curricular activities. In 2003, he was selected as one of only two university students to serve on the Chief Executive's Commission on Youth. Benne Chan, Accounting Year-Two, and five other undergraduates from Hong Kong, were honored as Goldman Sachs Global Leaders at a ceremony held on 16 May 2003. They were among 100 outstanding university students from 17 countries who received the prestigious awards this year. The Global Leaders Program was created by the Goldman Sachs Foundation and its partner organization the Institute of International Education in 2001. Its goal is to identify and reward the academic excellence and leadership potential of 100 accomplished second-year students worldwide and to foster their leadership skills and prepare them for distinctive service to society and their future professions. The winners each receive a scholarship of US$3,000 and are invited to participate in the Goldman Sachs Foundation's Online Curriculum Program. Mary Yu (left) and Agnes Ng. Benne Chan poses with Eugenia Savarese, representative of the Institute of International Education. Ian Fok (left), vice-chairman of the Chinese General Chamber of Commerce, presents the award to Max Wong.

11 HKUST Business School Newsletter Issue 19

"Quality Time for Manager The ever-changing corporate environment means managers and employees need to keep learning in order to stay on top of the game. Eddy Chan has taken that advice to heart. He completed his EMBA while working in a senior managerial job that requires him to travel more than 70 per cent of the time.

No doubt it's been very tough. Before I enrolled in this program, quite a lot of people challenged me and asked me how could I do it. The important thing is whether you want to do it. And if you have the determination to do it, you need to organize yourself well," he said. As regional vice president for China and Mid Pacific for FedEx Express, Chan travels frequently between China, Hong Kong, Taiwan and Macau. During flights, he studied. In the office, he knew his time was limited, so he delegated more and concentrated better, which he still continues to do. "I've built up the habit of delegating work, so now I can have more time to think about long-term issues for the company and spend more time developing other people," he said. He is fortunate in having a company that supports lifelong learning. FedEx encourages employees to enrol in further studies and is keen to see them develop, both through independent studies and training in the company. Part of Chan's job is in fact to train employees in China, especially to adapt them to the company's American culture. "China has a young workforce. They may not be used to concepts like empowerment and they need more guidance and teaching rather than letting them run the show freely. The important thing is to communicate to them and explain the thinking behind our rules and regulations," Chan said. The EMBA program has helped him in that respect, he said. He has learned to be more patient and to analyze issues thoroughly, rather than just going on instinct. It has also helped to enhance his quality time outside work. Thanks to the better time management skills he developed during the course, he is able to spend more time with his wife and baby twin girls.

Photo shows Eddy Chan being congratulated by Erica Kantor of Kellogg School of Management on his graduation from the Kellogg-HKUST EMBA Program in 2002. Eddy Chan

Young People Told to Nurture a Nimble Mind World-renowned specialist in Chinese studies, Leo Ou-fan Lee, currently an adjunct professor at the School of Humanities and Social Science, told the 100 participants in the School's annual summer study program for sixth formers that an open and quick mind is what matters most for one to become successful. Prof Lee said business has three dimensions: the substance (a particular profession), the style and the vision. While learning the substance is important in that it gives you the required knowledge for a profession, the key to success lies with the latter two dimensions. He advised youngsters to make a point in their daily lives of leaving "mind space" for nurturing creativity and imagination. This can be done in the form of pursuing one's interests or hobbies. Prof Lee's talk was part of the five-day summer program which included seminars from other HKUST professors, a speaker's dinner featuring political leader Christine Loh, company visits and management games. The annual event is jointly organized by the dean's office, the departments of economics, finance, and information and systems management and the respective student associations. A team of the summer study program participants work on their plans during a management game.

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China News Shanghai Alumni Gathering EMBA and MBA students, alumni and their friends held their third formal get-together in the spring in Shanghai. About 20 people joined Prof John Hulpke, MBA Program Director, China, for the event. Visit to Peking University Dean K. C. Chan led a visit by the Business School to the Guanghua School of Management at Peking University in March, to exchange views with academics there and meet HKUST students on the campus. Dean Chan was accompanied by Associate Deans Gary Biddle and Steve DeKrey on the one-day visit. SRO for Yan Xu in Shenzhen Professor Yan Xu spoke to a standing-room-only audience in Shenzhen on telecommunications restructuring and the bursting of the IT bubble. The talk, held before more than 200 Shenzhen MBA students and businessmen, received enthusiastic feedback from the audience and helped to strengthen the Business School's image in the Shenzhen business community. Talk by Wal-Mart China President Cassian Cheung, the president of Wal-Mart China, spoke to Shenzhen MBA students in June. Cheung talked about the "Wal-Mart culture" and shared his experiences with students. He is also a member of the Business School's Corporate Advisory Board. Photo shows Cassian Cheung (8th from the right) flanked by Profs John Hulpke and Steve DeKrey, together with Shenzhen MBA students.

People Faculty Promotions and Appointments The School is pleased to announce the following new appointments and promotions:

Kalok Chan has been appointed head of the department of finance, with effect from 1 July 2003. Professor Chan is a world renowned scholar in finance and joined HKUST in 1995. He became a full professor in June 2000 and was acting head of the department between September 2002 and January 2003. He is also associate director of the Center for Asian

Financial Markets. Joseph Fan has been promoted to associate professor in the department of finance from July 2003. Prof Fan was previously assistant professor. He has a PhD from the University of Pittsburgh and joined HKUST in 1997 from the University of Hong Kong. Kenneth Law has been appointed acting head of the department of management of organizations. Prof Law joined HKUST in 1994 from the University of New South Wales in Australia. Wilfried R Vanhonacker has been named acting head of the department of marketing from July 2003-June 2004. Prof Vanhonacker joined HKUST in 1993 and has extensive experience in Europe and the US. He was dean of the China Europe International Business School in 2000-01. He joined HKUST in 1993 and was the head of marketing from 1993-2000.