HKUST Business School [SBM] Newsletter (Issue 49)

Abstract

HKUST Business Newsletter Issue 49 Course that Nurtures Social Minds MBA Graduation Ceremony Page 2 Page 3 From the Dean The first half of this year saw a number of encouraging accomplishments made by our School. Academically it started with the results from the 2014 Research Assessment Exercise Report released by the University Grants Committee, in which we have achieved the highest percentage of four-star and three-star academic articles among all local universities. With four stars representing “world-leading” standard or the highest rating and three stars awarded for “internationally excellent” work, the results manifest our committed research endeavors. In the “QS World University Rankings by Subject”, HKUST was ranked among the best in the world in Computer Science & Information Systems (8th), Accounting & Finance (17th), Business & Management Studies (18th), Statistic & Operational Research (20th) and Economics & Econometrics (30th) – the results of joint contributions from the Business School and the HKUST family. On external engagement, we have taken an active approach to connect with the business communities around the world. We have established a closer link with international professional institutes like the Chartered Alternative Investment Analyst Association (CAIA), to promote alternative investment education in the region, and higher education alliances like the Global Network for Advanced Management (GNAM), to offer more global learning opportunities for students. Meanwhile, our students have received impressive accolades from case competitions overseas, with one team taking home the championship at the Belgrade Case Competition in Serbia and two second runner-up positions at the Scotiabank Case Competition in Canada and the Maastricht Case Competition in Holland. Another team has also won the Hong Kong Finals of L’Oreal Brandstorm Contest and will fly to Paris to compete with other 44 national winning teams at the International Finals. Both our students and faculty have made remarkable achievements this year, which will strengthen our international reputation. Your combined contributions are an integral part of the School’s effort to be widely and consistently regarded as one of the best business schools in the world. Professor Jitendra V Singh Dean, HKUST Business School Michael Jebsen Professor of Business More than 120 of the very best and brightest students were inducted into the HKUST Chapter of Beta Gamma Sigma (BGS) at a ceremony on 2 May officiated by Professor Wei Shyy, Executive Vice-President and Provost of HKUST, and senior management of the Business School. BGS membership is by invitation only to the top 10 per cent of undergraduates, top 20 per cent of postgraduates, and PhD candidates. The ceremony was the 15th induction since the HKUST Chapter was inaugurated in 2000 and brought the local membership total to more than 1,800. New Members Welcomed to BGS Elite BGS has close to 750,000 members in more than 160 countries, who all have to meet the strict academic requirements. Business schools must also achieve high standards for their degree and other programs to be eligible to set up a chapter on campus. “Having our own BGS chapter reinforces our international standing,” said the Dean, Professor Jitendra Singh, “and gives full recognition to our capacity in and commitment to promote excellence, honor outstanding students, and espouse the right values and principles.” And, just as importantly, HKUST members have the chance to attend an ever increasing range of business events and social activities hosted by the School. In addition to students, two special honorees are typically inducted each year who have made outstanding achievements in business, administration or service to the community. This year the honorees are Professor George Hongchoy, chief executive of The Link Management, and Mr Arthur Yuen, deputy chief executive of the Hong Kong Monetary Authority. At the induction ceremony, Mr Yuen noted that the 2008 financial crisis had underscored the value of Beta Gamma Sigma, which translates as “integrity, wisdom, earnestness”. “Our future business leaders must have a ‘behavioral’ view of issues and apply the type of values BGS promotes. They will also need a systemic view of things, since actions by individual economic agents, in certain conditions, can have a profound impact on a macro level,” he said. Professor Hongchoy said, “BGS offers guiding principles that one should live by in all aspects of life and in how we conduct business, By having a broader view of self and one’s career purpose, we can and will build a sustainable future for the community.” Website: www.bm.ust.hk Contact us: bmpr@ust.hk © 2015 by the HKUST Business School. All rights reserved. 2 News Two professors in the Business School have been honored with Named Professorships, which are supported by donors and bestowed by HKUST to recognize academic excellence and attract top scholars from around the world. At the second inauguration of Named Professorships held on 24 April, the Dean of the Business School, Professor Jitendra Singh, was named Michael Jebsen Professor of Business, and Visiting Professor from the University of Michigan, Professor Xiuli Chao, was named Fung Visiting Professor of Information Systems, Business Statistics and Operations Management. Professor Singh said he was appreciative of the generosity of all donors especially Mr Hans Michael Jebsen, who has been a tremendous supporter of HKUST and the Business School. He added that it was a privilege to receive the honor and to lead the School in pursuing academic excellence. Two other HKUST scholars were also honored at the event. The Head and Chair Professor of the Department of Computer Science and Engineering, Professor Qiang Yang, was named New Bright Professor of Engineering, and Chair Professor of the Department of Mechanical and Aerospace Engineering Professor Xin Zhang, was named Swire Professor of Aerospace Engineering. Named Professorships for Outstanding Faculty Three teams of undergraduate students impressed in international competitions, with one team emerging a champion and two named second runners-up. At the Belgrade Business International Case Competition held in Serbia in March, four GBUS students came out on top after presenting two separate cases before a panel of judges. For one case they had five hours to prepare, for the other case 30 hours. The team members were Ryan Cheng and Cherry Wong, both final year students; Ray Liu, a third year student; and Hillary Juan, a second-year student. Meanwhile, at the Scotiabank International Case Competition in Canada, also held in March, Jimmy Kam, Jenny Qin, Henry Wang and Hay Teng Wong were named second runners-up. And at the International Case Competition@Maastricht held in April, Kenneth Chan, Michelle Leung, Andy Ng and Jacky Tam were also named second runners-up. Congratulations to all for their achievements in a globally-competitive arena. The Business School and the Chartered Alternative Investment Analyst (CAIA) Association, a not-forprofit organization recognized globally as the leader in alternative investment education, have formed an academic partnership. Under the partnership, the School’s students and alumni will have access to the CAIA Association’s curriculum and events on a range of asset classes, including commodities, hedge funds, and private equity. They will also be eligible to apply for scholarships to earn the CAIA Charter. A launch ceremony was held on 29 January, at which the CAIA Association’s CEO, Mr William Kelly, expressed his delight at having HKUST as its first academic partner in Asia, noting that Hong Kong was a critical market for alternative investments. Professor Peter Mackay, Academic Director of HKUST’s MSc programs in Investment Management and Financial Analysis, said the partnership was a testament to the quality of the School’s programs and the relevance of its course offerings. The HKUST Business School is CAIA’s 30th Academic Partner, joining other internationally topranked business schools. A team of HKUST students who have completed the Social Entrepreneurship and Venture Philanthropy Course (SEVP) and won $250,000 for its partnered social enterprise took centre stage at a ceremony held by the Yeh Family Philanthropy Ltd (YFP) on 12 May. YFP announced the launch of an innovative program “Nurturing Social Minds” designed to provide a hands-on action learning experience in venture philanthropy, impact investments and social entrepreneurship after the SEVP course was successfully piloted for two years at HKUST. During the ceremony, the highly motivated winning team shared their lessons from participating in the course. “The SEVP class was an eye-opening learning experience,” said Sunny Um, an MBA student. “It provides an excellent chance to gain first-hand exposure to social entrepreneurship and learn about the diverse spectrum of venture philanthropy. This experience will remain as a guiding light in my future career.” High Marks for Students in International Competitions New Partnership with Alternative Investment Group Course that Nurtures Social Minds 3 A total of 80 MBA graduates and 160 of their family members and friends gathered on campus on 29 March for a special graduation ceremony. The ceremony was organized in recognition of the international nature of the class. In the past some graduates were unable to return to Hong Kong for HKUST’s traditional congregation, which is usually held toward the end of the year. The new arrangement provides an opportunity for everyone to experience the sense of achievement that a graduation ceremony provides. “We understand how difficult it can be to get you all back to campus after your studies, especially when this year’s graduating class comprises over 30 nationalities from around the world,” said Mr Sean Ferguson, Associate Dean of Master’s Programs and Director of MBA Programs. The Dean, Professor Jitendra Singh, presided over the ceremony and encouraged graduates to pursue success and keep an open mind on how they define it. A keynote speaker, Mr Gordon Watson, Regional Chief Executive of AIA Group, also shared his thoughts on how to be a leader and on Asia’s future development from a business standpoint. The top students were recognized with an MBA Academic Excellence Award, while students demonstrating exemplary leadership and service in contributing to the enhancement of student life and the MBA program received MBA Citizenship Awards. The top three awardees from both groups were also presented with watches sponsored by BAUME & MERCIER. First Exclusive Ceremony for MBA Graduates “I believe that when the history of our times is written, this may be remembered as the period when significant elements of the 21st century business school were innovated, if not the entire organizational form.” That prognosis was made by the Dean, Professor Jitendra Singh, at the Asian Management Conclave in Singapore in March, which had the theme “Management Education in Asia: Strategies to Leapfrog”. The conclave featured presentations and discussions by deans and presidents from business schools in 15 Asian economies, and by global thought leaders on education. One conclusion that emerged was that Asian business schools needed to create much more original content on business management and practices in their countries and region, rather than merely adapting a Western curriculum, if they were Nearly 200 students attended a conversation with Mr Kenneth W Hitchner, President of Goldman Sachs in Asia Pacific Ex-Japan, held on 29 April as the first session in the School’s Asian Leadership Series this year. Mr Hitchner has had an interesting career that also includes being adjunct professor at Columbia Business School and a lieutenant commander and naval aviator in the US Navy. He spoke on leadership, the value of diversity, innovation and career development. He also noted that this was the best time to be in Asia, hightlighting China’s growth, and discussed trends and opportunities in the region. Mr Hitchner’s advice to students was to develop expertise, build credibility and be patient in planning their future careers. His talk was hosted by Mr Sean Ferguson, Associate Dean of Master’s Programs and Director of MBA Programs. Role for Asia in 21st Century Management Education Goldman Sachs Executive Shares His Insights to leverage the unprecedented opportunity of the “Asian Century”. Professor Singh used his address to delve into the evolution of management education over the last century and stressed the importance of developing more top class, research-focused schools in Asia. “Management educators in Asia must ask the question: Are we merely consumers of knowledge created elsewhere in the world or are we creating new knowledge by applying principles of scientific research? Asian B-schools must take responsibility for creating new knowledge – for use in Asia and export to the world,” he suggested. Other speakers also urged Asian management schools to innovate, for example, by leveraging technology and developing programs to meet local needs. The Asian Management Conclave was jointly organized by MBAUniverse.com and Singapore Management University. 4 Executive Education Partnership Program with Kellogg The Business School continues to play a key role in training Hong Kong government officers, providing both management and leadership programs. Recently, more than 110 government officers undertook training. In January, 87 officers from 18 departments completed the nine-day Management Development Program (MDP), which is targeted at senior managers. They were the 22nd and 23rd classes to participate and included two units that were firsttime participants – the Development Bureau and the Innovation and Technology Commission. Another 33 middle managers from seven departments completed the four-day Leadership Development Program (LDP), which included modules on Managerial Decision Making, Team Communications, Creative Thinking, and Leading for Performance. Both the MDP and LDP offer highly interactive learning experiences, including group discussions, role-plays, simulation exercises, and luncheon talks by industry speakers. Students from Spain, Russia and Scandinavia visited the School in the first half of the year for customized programs and site visits. The Executive Education Office welcomed four groups of students in the first half of the year, including the most recent visitors, a group of 29 MBA students from Escuela de Alta Dirección y Administración, Spain. The theme of their visit was “Customer Experience and Multi-Channel Marketing” and the students attended lectures, a guest talk by Royal Dutch Shell’s former global brand strategy adviser, and company’s talk by digital director of Creativeworks and general manager of Louis Vuitton Hong Kong. They also visited Louis Vuitton’s store in Hong Kong. Another group of EMBA students arrived from St Petersburg State University in April, the second visit to be organized with this university. The four-day program focused on operations management, key concepts and best practices through talks by leaders from Maersk and Li & Fung. The group also visited Hong Kong International Terminals. Russia’s Kaliningrad International Business School and the Executive Education Office jointly organized a Strategic Customer Strategy Program for 13 executives from Russia. The participants learned about principles and tools they could apply in their businesses and visited SmarTone Mobile Communications to learn about its customer strategies and value-added services. Finally, Stockholm School of Economics in Riga sent 26 EMBA students here on a China Business Program. The program comprised lectures, cultural tours and company visits to Orient Overseas Container Line, Chiaphua Components Group, Yantian International Container Terminals and InvestHK.. The students also met with other EMBA students from Kellogg-HKUST and St Petersburg State University. UST Continues to Groom Government Officers for Advancement Exciting Classroom for European and Russian Students Kellogg School of Management’s “Advanced Management Program” for global leaders provides participants with the opportunity to closely study selected global markets. This year they selected Hong Kong and Shanghai as destinations for the overseas module. The School was invited to organize the Hong Kong lectures and visits for the program in January, which were opened with a presentation of business cases in China by Professor Laurence Franklin. An interdisciplinary panel discussion of the China business environment followed, with Professor Michael Sung moderating. Panelists included Dr Marcus Schuetz, a German expat who has extensive working experience in a joint-venture in China, and Mr Francis Kwok, an UST alum and also a young entrepreneur with extensive experience running his business in various Chinese cities. On day two, Professor Cassian Cheung gave an update on the China market and Professor Lynn Pi provided an overview of the country’s financial system. Mr Jim Thompson, the chairman and founder of the Crown Worldwide Group, shared his own experience in establishing and expanding business in China. 5 EMBA/MSc Programs KH18 Executive MBA Commences Professor Jitendra Singh, Dean of the Business School, presented scholarships to the academically outstanding students of the MSc programs in Economics, Global Operations and Investment Management at a special get-together for MSc students on 27 April. Hilti, the School’s corporate partner, sent 22 senior managers from its various Asia Pacific offices to the HKUST Business School in March to conduct a Corporate Strategy Workshop for MSc students. The workshop is part of Hilti’s regional “People Day” meeting which aims to share experiences among the colleague and interact with university students. Hilti’s President of Asia, Mr Robbert van-der-Feltz, shared the company’s business strategies with students. Students also got the chance to talk with company directors from finance, logistics and human resources from its Asia Pacific Office. The workshop attracted 20 students from MSc programs, International Management and Global Operations. Students have learnt a lot from the senior executives through the interaction and in turn they also earned job opportunities at Hilti through their outstanding performance at the workshop. Hilti is a Liechtenstein-based company that develops, manufactures, and markets products for the construction, building maintenance, and mining industries. It employs more than 20,000 people worldwide. Nearly 130 MSc students, including the MSc in Accounting and International Management students, attended the event, which the MSc Program Office organized in appreciation of the students’ dedication to the program. It was also an opportunity for students to meet the Dean, as well as other senior management and faculty. Seventy alumni of the HKUST Bilingual EMBA came to campus from across China on 11-12 April for a homecoming celebration. They were welcomed by the Dean, Professor Jitendra Singh, who noted that 700 elite executives and business professionals had graduated from the program since its launch in 2002 and contributed to the economic and social advancement of Greater China and Asia. Also on hand to greet the alumni were the Associate Dean (HKUST EMBA & Executive Programs), Professor Xu Yan, and the Chairman of the EMBA Alumni Association, Mr Han Yuze. The HKUST Bilingual EMBA alumni also heard from Professor Milind Rao who spoke on “Money and Macroeconomics”. Outstanding MSc Students Awarded Scholarships Corporate Strategy Workshop by HILTI Homecoming for Bilingual EMBA Alumni The 18th Kellogg-HKUST Executive MBA (KH EMBA) class began their challenging program in January, flying in from Russia, Australia and major cities across Asia. The 61 students represent 19 nationalities and work in offices as far flung as St Petersburg, Moscow and Perth. The highly diverse cohort reflects the global recognition and international standing of the KH program. Since 2007 KH program has been consistently ranked among the world’s best EMBA programs, clinching the No.1 spot on the Financial Times’ annual survey for six years, and No.2 for two years. The program is committed to delivering a premier learning experience for senior executives. Its longstanding reputation has been made possible not only by its high-caliber students, but also its distinguished international faculty at both HKUST and Kellogg. The program attracts a spectrum of international talent that grows each year, creating a highly stimulating environment in which students learn from each other and excel. 6 Research Jun B. Kim, Paulo Albuquerque and Bart J. Bronnenberg use a statistical technique that analyzes the products that were searched together and infers how different brands and products compete in the market place. In addition, their approach allows the authors to visualize the competition in the market. Their analysis is unique in that they focus on what consumers search before they decide to buy rather than on purchase information. “Our method visualizes consumer browsing behaviors in the form of product search maps. Manufacturers can use these maps to understand how consumers search for competing products before making a choice, including how information acquisition and product search are organized along brands, product attributes and price-related strategies. “The maps also inform manufacturers about the competitive structure in their industry and the content of consumer consideration sets,” they said. They used a statistical approach called asymmetric multidimensional scaling, which can show the relations of searched products in terms of price, brand, and other technical attributes for digital camcorders from Amazon.com for one year, starting This would enable them to scrutinize the local relationships among products and thus to better understand substitution patterns for their own products during consumer search activities,” the authors said. “Second, our analysis helps manufacturers to understand which and to what extent product attributes influence the contents of consumer product search. For example, we found that the role of brand is less significant than format or price, which is consistent with a recent large-scale industry survey. “And third, they can use the product search map to diagnose the performance of their product lines. “As more online data become available to practitioners and the marketing research community, well-tailored multidimensional scaling techniques may prove to be useful exploratory tools for analyzing and enhancing our understanding of brand search and consideration.” Mapping Online Consumer Search Amazon.com enables consumers to shop at the click of a button, which also provides rich information for manufacturers about consumer search and choice. One study shows how this information – which is freely and publicly available – can provide firms with insights into the competitiveness of their products. KIM, Jun | ALBUQUERQUE, Paulo | BRONNENBERG, Bart J. Journal of Marketing Research, Vol. XLVII (February 2011) Professor Jun B. Kim June 2006. The data focuses on the top four major brands (Sony, Canon, JVC and Panasonic) and the three most common media formats (DVD, hard drive and MiniDV), resulting in 62 products in their analysis. An example of the information this approach yielded could be seen in MiniDV searches, which were found to cluster around products priced lower than $300. Manufacturers could use the layers of information from the map to identify their closest competitors – and even to see if their own products were competing against each other. For one Sony MiniDV, for instance, the top three most jointly searched alternatives were other, less expensive Sony products, while one JVC MiniDV was not searched frequently with other products, indicating it was not competing effectively. At the category level, consumer searches tended to be guided first by format, second by price, and finally by brand. The method has a broader applicability and can be used to reveal broader patterns of search behaviors in other product categories. “Manufacturers can use product search maps firstly to monitor in detail each product’s neighboring competitors during the consumer search stages. 7 Events Internet+ Era Innovation Forum in Nansha The opportunities and challenges of what is being called the Internet+ era were among the hot topics of a forum co-organized by the HKUST Business School and the Fok Ying Tung Research Institute in Nansha, Guangzhou, on 28 March. The forum, “Diversified Innovation in the Internet+ Era”, attracted participants and alumni from across the Pearl River Delta Region to hear industry experts speak on the meaning of Internet+, how to innovate and the challenges and opportunities that lie ahead. Speakers included Professor Wu Jingshen, Executive Dean of HKUST Fok Ying Tung Research Institute; Professor Xu Yan, Associate Dean (HKUST EMBA & Executive Programs); Mr Yang Xiao, Vice President of Guangzhou’s Scientific Institute; Mr Cai Xin, Vice General Manager of Tencent’s Interactive Entertainment Business Group; and NUS Adjunct Associate Professor Perry Chou. Also speaking was Mr Zhang Yunfei, an HKUST PhD candidate and founder of Zhuhai Yunfeng Intelligent Technology Ltd – a pioneering company that has successfully developed the pilotless boat. Mr Zhang talked about the source of his inspiration and his entrepreneurship experience. The Tanoto Center for Asian Family Business and Entrepreneurship Studies at HKUST recently explored issues related to family wealth preservation for ultra-high-net-worth families in Greater China. The seminar in March was attended by more than 60 family business owners and family office professionals from Hong Kong and China, and featured talks by experts and family business leaders. The Center’s Associate Director Professor Winnie Peng, who advocated that family office, besides its commonly known wealth management functions, can actually play the role as a glue to keep a multigenerational family together, “to preserve not only wealth, but also harmony, family legacy and values for future generations.” Governance played a key role in wealth preservation, too, according to Ms Sandra Urie, Chairman and CEO of Cambridge Associates. She emphasized the importance of a well-defined investment governance structure: “Families should identify who could participate in the investment decision-making process and in what form.” A panel discussion featuring speakers from different family business backgrounds and moderated by Professor Roger King, the Center Director, looked at how and why families set up family offices. The panel participants included Mr James Chen, Chairman, Wahum Group Holdings; Mr Robert Dorfman, Chairman, Herald Holdings Ltd; Mr Geoffrey King, Managing Partner, Violet Hill Partners; and Mr Eddy Lee, Director, Lee Kum Kee Company Ltd. The first Alumination event of 2015 brought together the alumni community in Singapore for a fun and informative evening on 15 April, capping other alumni activities organized by the School. More than 50 alumni joined a cocktail reception in Singapore that also featured updates from Associate Dean & MBA Program Director Mr Sean Ferguson. The School has also organized a number of alumni lunches, networking drinks and joint school mixers in Hong Kong since the start of the year. These are great ways for former students to catch up with fellow schoolmates and make new contacts in their business districts – from Central and Quarry Bay to Science Park and Cathay Pacific City. Preserving Family Wealth Across Generations Connecting Alumni Around the World Trends and Jobs Talk for Financial Analysts Job opportunities in Asia for both young chartered financial analysts and mid-career executives was the subject of a lunchtime panel discussion co-organized by the Hong Kong Society of Financial Analysts, Chartered Financial Analyst (CFA) Institute and the HKUST Value Partners Center for Investing. Senior industry executives were invited to discuss topics related to “Investment Industry Trends and Career Implications” at the 31 March luncheon. A total of 68 participants joined in the discussion moderated by Mr Paul Smith, Chief Executive Officer and President of the CFA Institute. These events were also used to cultivate social bonds among the wider network of business schools. At joint school mixers, graduates were joined by alumni from other top-tier business schools, such as NYU, INSEAD and Yale. An event in Seoul also brought HKUST MBA alumni and students together for a social gathering with alumni from KAIST, Seoul National University and Sungkyungkwan University. 8 People Administrative Appointments Kasper Nielsen, Associate Professor of Finance, is appointed Academic Director of the HKUST-NYU MS in Global Finance. New Appointments Professor Finance Utpal Bhattacharya, PhD, Columbia University. Research Interest: The dark side of financial markets. Adjunct Professor ISOM Edwin Keh, BA, Whittier College Professor Keh has extensive experience in global supply chains and procurement operations. He is CEO of the HK Research Institute of Textile & Apparel and a lecturer at the Wharton School. He was COO & SVP of Wal-Mart Global Procurement (until 2010). Adjunct Associate Professor Finance and Management Johnny Chen, Master’s Degree in Accounting, University of Rhode Island and a US qualified CPA. Professor Chen is the China Chairman for Zurich Insurance Group covering both General Insurance and Life Insurance segments. Promotion Professor Marketing Rashmi Adaval, PhD, University of Illinois at Urbana Champaign. Research interests: Role of affect in consumer information processing; effects of sensory information on memory, judgments and behavior; numerical cognition. Three faculty of the Department of Information Systems, Business Statistics and Operations Management (ISOM) have been appointed to advise the Hong Kong government on issues related to new technologies. Chair Professor Tam Kar Yan has been named a member of the Steering Group on Financial Technologies, which is advising the government on how to develop Hong Kong into a fintech hub. Professor Tam said it was an exciting prospect to be working closely with the government on this development. “Fintech is a disruptive innovation. From Cryptocurrency to Algo Trading, fintech is making significant impacts on the finance industry.” Professor Xu Yan has been appointed a member of the Governing Committee of the Customer Complaints Settlement Scheme (CCSS) for the telecommunications industry, which helps to resolve billing disputes between customers and telecommunications service providers. “The CCSS is a good model of industry self-regulation in the telecommunication industry. Hong Kong is a pioneer in taking this approach and is strongly supported and sponsored by the Office of the Communications Authority (OFCA) and the Communications Association of Hong Kong (CAHK)”, Professor Xu said. He is also currently member of the Telecommunications Regulatory Affairs Advisory Committee of OFCA, and President of Regulatory Issues Group of CAHK. And Associate Professor Michael Zhang has been appointed a member of the Advisory Board of Cyberport Entrepreneurship Centre, which nurtures and strengthens entrepreneurs and start-ups in the area of information and communications technology. Undergraduates have shown their high-flying colours by emerging winners in local competitions. Vincent Leung, a final year student in Management majoring in human resources, came out on top in a competition for the Hong Kong Management Association Personnel Management Club Scholarship. He won HK$4,000 for his essay and presentation on the future for HR practitioners, beating out other HR majors from local universities. Meanwhile, a team of students was named Champion of the local final of the CFA (Chartered Financial Analyst) Institute’s Research Challenge 2014-15 (Hong Kong). The team comprised Philip Huang Yizu, Allen Tong, Derrick Qi, and James Wang. ISOM Faculty Appointed as Government Advisers Students Come Out Winners Professor Tam Kar Yan Professor Xu Yan Professor Michael Zhang Six staff from the Business School were honored at HKUST’s annual Long Service Award Ceremony held on 10 March. HKUST launched the award presentation in 2010 to show appreciation to all those who have contributed to the university’s rise since its founding in 1991. The six Business School recipients of the Long Service Medal were: Ms Anita Wong of the Department of Accounting; Professor Vidhan Goyal of the Department of Finance; Professor Stephen Nason of the Department of Management; Professor Kristiaan Helsen of the Department of Marketing; Professor Anaimalai Muthukrishnan of the Department of Marketing; and Professor Zhang Hongtao of the Department of Information Systems, Business Statistics and Operations Management. Ms Wong, who is a secretary, said, “I would like to thank all my colleagues at HKUST, many of them have become my longstanding friends.” Professor Nason said, “I am really excited about the achievements we have made. We have a group of dedicated and devoted individuals here who are passionate about teaching and research, and that is what makes this university attractive.” Six Loyal Staff Honored status as at 1 June 2015