HKUST Annual Report 2017-18

A N N U A L R E P O R T 2 0 1 7 - 1 8 43 HKUST In Times Higher Education subject rankings, HKUST Business School ranked No.1 in Asia and No.14 globally in Business and Economics while QS World University Rankings by Subject 2018 ranked the School at No.16 for both Accounting and Finance and Business and Management Studies. After seven years’ dedicated service, Dr. William FUNG Kwok-Lun, Group Chairman of Li & Fung Ltd, retired as Chairman of the School Advisory Council. Under Dr. Fung’s leadership, the Council played an increasingly important role in advising the School on how to achieve its vision and strengthen connections with the business community. He will continue to provide informed guidance to the School on its future development. Dr. Hans Michael JEBSEN, Chairman of Jebsen & Co Ltd, succeeded Dr. Fung as Chair in September 2017. READY FOR THE FUTURE In 2017-18, the School made steady strides in preparing students for unfolding opportunities, in particular in emerging markets and the digital arena. Driven by the changing business environment, the School identified FinTech, business analytics, innovation and entrepreneurship, and emerging markets among areas for growth. Alongside InvestHK’s Hong Kong FinTech Week, the School organized its first FinTech Week in October 2017. A series of activities took place on campus related to the burgeoning financial technology sector, including career and company talks, and an alumni panel. The week-long event concluded with a FinTech hackathon to develop an app or product to disrupt the finance industry, attracting 24 student teams from across the University. The strategic partnership with the Moscow School of Management SKOLKOVO entered its second year, with solid progress made in the emerging markets’ sector. The two schools jointly developed the dual degree HKUST-SKOLKOVO Executive MBA for Eurasia. With its first cohort to start in November 2018, the program will help participants capitalize on opportunities opening up across Eurasia as a result of China’s Belt and Road Initiative and other developments. Meanwhile, SKOLKOVO Institute for Emerging Market Studies experts visited Hong Kong to explain the key geo-economics of the Eurasian heartland. FOSTERING GLOBAL BUSINESS EDUCATION Two major international academic conferences were held, demonstrating the School’s advocacy of top business education in Asia and beyond. The Association of Asia-Pacific Business Schools (AAPBS), an academic alliance serving more than 100 member organizations, conducted its major conference and workshop at HKUST in May 2018. Over 100 deans, directors, and senior administrators gathered for the event, which focused on “The Impact of Technology on the Future of Work”. Corporate leaders and specialists shared their insights on the subject. The School hosted the Global Network for Advanced Management Deans and Directors Meeting in December 2017 to discuss and promote collaboration among the 30 top business schools in the network. A Fall 2017 partnership with Yale School of Management and HEC Paris to launch a portfolio of dual degree master’s programs in international management and global operations was the result of membership of the network. Fifteen more Executive Education open enrolment programs (including two consortium programs), addressing general management and leading topics such as FinTech and family business, and 21 customized programs attracted over 1,600 senior executives in total. They represented more than 180 companies, organizations, and HKSAR government offices from over 40 industries around the globe. CAREER DEVELOPMENT, CORPORATE OUTREACH The School has dedicated offices to coordinate and expand student career development and corporate initiatives through leveraging existing industry links and developing new partnerships to source internships and job opportunities, corporate and capstone projects, case competitions and engagement activities. Other endeavors include co-hosting sustainability and green finance conferences with the University’s Institute for the Environment and expanding alumni engagement. Among these dedicated offices, the MBA career team continued to provide personalized support for graduate placement and internship opportunities. In 2017-18, more than 10 MBA graduates advanced their careers in multinational corporations across different industries including financial services, insurance, and methanol. The School also offered faculty development support. Orientation and mentoring assisted new faculty while an observational program brought together young faculty and star teachers to learn from each other. Faculty members were encouraged to attend external research or teaching workshops, such as the AAPBS Case Research Workshop, designed for researchers, and the Babson Entrepreneurial Leadership and Innovation Program, which helps teachers become leaders.