The
Learning Game
In uncertain times, finance managers are
turning to mid-career education programs in record numbers.
"If I were given an opportunity to run
a listed company, I could start tomorrow."
Six months ago, Lionel Choong, a partner
at Deloitte Touche Tohmatsu and director of business development
at Deloitte & Touche Corporate Finance in Hong Kong, would
not have made such a statement. But today, halfway through
an Executive MBA (EMBA) program, Choong exudes confidence.
He can easily talk about marketing and
innovative strategies, core competencies, customer relationship
management, economic trends, e-business and other issues that
any top manager faces. "One of the skills that is required
of an executive in top management is decision-making," says
Choong. "A CEO or CFO may say he makes a decision based on
gut feel, but to make a good decision, he relies on his analytical
skills," he says. An EMBA program, says Choong, has sharpened
his decision-making skills.
Choong, an accountant by training, represents
a growing crop of finance executives and aspiring finance
managers who are returning to school to upgrade and broaden
their professional skills to cope with a fast-changing world.
The forces of globalization, technological change, market
liberalization and increasing competition demand that today's
executives are multi-cultured, multi-talented and multi-faceted.
Local Limits
The academic world agrees with Choong.
"In the past, when a manager ran a firm in Asia, the culture,
the rules and the workers were all local," says KC Chan, professor
of finance and acting dean at the School of Business & Management
at the Hong Kong University of Science & Technology (HKUST).
"But now, a firm may be based in Hong Kong, its subsidiaries
are all over the world and a manager has to deal with different
sets of rules and regulations and an increasingly multi-cultured
staff," says Chan.
Chan says the responsibilities of today's
managers are more multi-dimensional and challenging. "That's
why many are pursuing additional degrees and skills to equip
themselves," he says. Take David Fong, regional finance director,
Actmedia Asia, an advertising company in Hong Kong. "I was
trained as an accountant, so my knowledge in areas other than
accounting is fairly limited. As my company expands in Asia,
I need to be involved in many issues other than finance,"
he says. His solution: an EMBA at HKUST, which he is taking
in his own time and at his own expense.
Job mobility is another reason so many
executives are returning to the classroom. Executive recruiters
estimate that today's managers change jobs three to four times
in the span of their careers - the one-company-for-life scenario
is as dead as the 20th century.
Many executives also want to get their
promotions faster and overseas postings sooner. Hence, more
and more mid-career professionals are acquiring new skills
to propel their careers onto the fast-track.
Not surprisingly, the numbers enrolling
in post-graduate education are leaping. Educators and researchers
estimate that several hundred thousand executives, most in
their 30s and 40s, are currently in post-graduate programs
in Asia. Most are in Hong Kong and Singapore, the region's
financial and education hubs. For the most part, the students
are Asians working in large local, regional and international
firms. The minority are expatriates employed in Asia or those
looking to move to the region. Despite an economic slowdown
in the US and many parts of Asia, educators say they expect
demand for executive programs - now a multi-million dollar
business in the region - to continue to grow.
As a result, many schools are in an expansive
mode. HKUST, for example, is beefing up its China Business
and E-Business programs while at the same time looking to
strengthen its joint executive programs with universities
in Beijing and Shenzhen. The France-based business school
Insead (Institute of European Administration), which opened
its popular Singapore campus in October last year, acquired
plenty of land for potential expansion. Mid-career Asian students
are also heading for Australia. "There's definitely a huge
demand for post-graduate courses and executive programs in
Asia," says Bruce King, an associate professor of distance
education at the University of South Australia. The University's
Flexible Learning Center where King is director caters specifically
to working professionals.
Chair or Modem?
For those who decide to take the plunge,
there are several ways to do it: study via a local university,
travel to an overseas university or study using the Internet.
The strengths of a local university are its locally based
faculty and knowledge of local markets, while a Western University
offers a Western brand name and an international learning
environment. Distance learning, thanks to the advent of the
Internet, gives students the flexibility to learn anywhere
anytime and at their own pace. Alternatively, research institutes
and large management consultancies also organize shorter courses,
seminars and conferences that run from one to two days. Lastly,
Asian managers are increasingly seeking out local campuses
or programs set up by overseas universities.
For Choong the choice was clear. He chose
the EMBA program jointly offered by HKUST and the Kellogg
Graduate School of Management at Northwestern University in
the US. The program offers courses on all aspects of senior
management issues and business dynamics such as e-business,
negotiation skills, IT trends and Asia's changing markets.
Its participants must be senior executives with extensive
work experience, while instructors include top-flight faculty
members from both HKUST and Kellogg.
Choong says the program, which takes 16
months and costs HK$535,000, complements his knowledge in
finance and has made him a more well-rounded manager. Choong,
who has an acounting degree from the UK, particularly likes
the course structure. "It is divided into modules and involves
classes, case studies and group discussions, so you get different
kinds of learning experiences," he says.
Choong also says he values the face-to-face
contact and communication with fellow students. "Because the
students themselves are senior executives who come from different
industries and facets of business, we learn a lot from each
other," he says. Unlike a conventional university program
where textbooks and exams are paramount, in an EMBA program,
interaction among students and instructors is more important,
Choong says, adding that the program gives students plenty
of opportunities to exchange ideas, test theories and network.
The residential nature of EMBA - meaning
students live on campus - also appeals to Choong. "Studying
in a campus environment makes you more focused and energized.
You don't have any distractions," he says. Students attend
classes in the University's picturesque and secluded Clearwater
Bay in Hong Kong. For these benefits, however, the students
have to sacrifice their Friday afternoons and weekends.
Other executives wanting to study in a
local campus of a Western University can also choose the University
of Chicago or Insead, both of which have a campus in Singapore.
They offer a wide range of executive programs and post-graduate
courses, including a full MBA course.
The University of Chicago Graduate School
of Business offers its EMBA program in Chicago, Barcelona
and Singapore. Each campus takes about 85 students a year.
The faculty members who teach the full-time MBA program in
Chicago also teach the EMBA program on all campuses. The program
follows a modular format consisting of 16 intensive one-week
sessions over a 20-month period. It uses a general management
curriculum, in which students master tools drawn from the
fundamental disciplines that underlie business theory and
practice, such as economics, statistics and behavioral sciences.
In the classroom, students learn how to apply these analytical
tools to specific business problems.
To Train in Spain
Aside from attending classes in Singapore,
students in the Asian campus spend two weeks in Chicago and
one week in Barcelona. "An important aspect of the Executive
MBA Program is the opportunity to learn from and develop relationships
with fellow students on all three campuses," says Beth Bader,
managing director of the EMBA program at the University of
Chicago's Singapore campus. Students currently in the University
of Chicago's EMBA program are from 25 nationalities and work
and live in 15 countries. Exchanges between such a diverse
group of students help broaden their perspectives on business
and world affairs and give them a global network of professional
contacts, Bader says.
In fact, it was the high standard of the
students and faculty that attracted Shamindra Perera, director
of Funds Distribution at Frank Russell Investments in Singapore,
to the University of Chicago EMBA program, which costs US$68,000.
"I like the fact that the faculty who teaches the MBA in Chicago
teaches the program in Singapore - I'm getting the high caliber
professors," Perera says. Interacting and networking with
fellow students, most of whom are senior executives and department
heads at large companies and multinationals with at least
ten years of work experience, is a plus. "You learn as much
from your classmates as from the professors. That makes the
program worthwhile," Perera says.
But for Perera the main pull of the University
of Chicago program over all others offered in Asia is the
brand name. "The name matters very much," says Perera, who
has a degree from another brand name school, Cambridge University.
"The University of Chicago is a top business school that is
known worldwide," says Perera.
Like many executives returning to school,
Perera does it as a "re-investment" in his career - for career
advancement purposes. He also sees it as a way to force himself
to keep up. "Many times when I go into a bookstore, I'll buy
a book and then put it on my bookshelf," says Perera. "I say
to myself that I'll read it but may never get to because of
work and other commitments. But taking an MBA allows me to
balance my work with my desire to come up to speed in management
and finance issues, and strategic thinking," he says.
Perera says he also sees the advantage
of getting his MBA as a mid-career executive compared to when
he was in his 20s. "I can more readily apply theories and
case studies learned in the classroom into work situations
now that I have more work experience," he says.
Insead is offering a similarly international
learning environment, competing head-on with the University
of Chicago for Asia's brightest students. Insead has been
sending its staff to Asia to teach executive courses for more
than 20 years. In October last year, it opened a 10,300 square
meter campus - its first outside France - in Singapore. Insead
Singapore's one-year MBA program boasts a student body of
150, from 36 countries.
Aside from the MBA, Insead offers many
short courses on strategy, finance, marketing, management,
e-commerce, risk management and human resources management.
Its "Finance for Executives" is a highly popular eight-day
program that takes a global focus but from an Asian regional
perspective.
Insead Singapore's assistant marketing
director Sairam Nilgiri boasts that its MBA students live
in an international, culturally diverse campus environment.
"Students from different countries and industries, with various
knowledge and expertise, come to Insead to learn from each
other. The global alumni network formed as a result is very
valuable," he says. He adds that while many of Insead Singapore's
MBA students are from Asia, others are Americans or Europeans
who work or want to work in Asia.
Virtually Yours
An increasing number of executives, however,
choose a program not for its brand name or international learning
environment but for its convenience. Distance learning - formerly
done by correspondence but now delivered on-line - is popular
among executives who want to study around their own schedules.
Educators predict this idea of 'bringing the university to
you' or 'virtual university' to be the fastest-growing segment
of education.
"I work a lot and at all hours, so I need
something that allows me to study at my own pace. Distance
learning suits me," says Ross Chen, trading manager at Jin
Hui Holdings, a shipping company in Hong Kong. Michelle Tong,
assistant marketing manager at Orient Overseas Container Lines
in Hong Kong, agrees. "When I looked at the (distance learning)
program, I signed up right away because I liked its schedule
so much," she says.
Both Chen and Tong are taking their MBAs
via distance learning with the University of South Australia
and want to increase their knowledge in finance for career
advancement. "There is a lot of pressure in Hong Kong to succeed,"
says Chen, who was born in China. "People here are very driven.
If your peers are doing an MBA or taking other degrees and
you're not, you fall behind," he says.
The University of South Australia - through
its Flexible Learning Center and alliances with local learning
institutes - offers more than 1,000 courses over the web and
enrolls more than 4,000 overseas students via the Net. Courses
range from business administration to hotel management to
education, although MBA and IT programs remain the most popular.
Bruce King, director at Flexible Learning
Center at the University of South Australia, says its programs
cater to students all over the world, with the majority coming
from Hong Kong, Singapore and the rest of Southeast Asia.
While distance learning doesn't seem to offer students the
benefits of frequent face-to-face interaction with instructors
and classmates, it does provide contact when needed - via
the Internet, emails and chatrooms, King says. The average
class size of 20 to 25 ensures that students have the opportunity
to interact with each other, he says.
The University, moreover, provides assistance
to overseas students through Learning Connection, a unit that
allows students to discuss course work, career development
and personal issues with staff and counselors over emails,
or obtain personal support by doing on-line interactive workshops.
Chen at Jin Hui Holdings says before classes, which are held
at the Asia Pacific Management Institute in Hong Kong, students
meet in groups of four to five to discuss assignments. "We
talk, interact and get feedback from each other. We learn
a lot from each other," he says.
When asked how he juggles work, study
and family, Chen says he learns about time management from
the MBA program. "What I also do is sleep less," he says,
"so I have more time to study."
And more time to plan his next career
move, no doubt. 
By Lotte Chow, a contributing editor for
CFO Asia based in Hong Kong.
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Profiles
of 10 Schools in the Asia Pacific region
1 Department of Accountancy, The Hong
Kong Polytechnic University
www.acct.polyu.edu.hk
Among the accounting departments in the seven Hong Kong universities,
the Department of Accountancy at The Hong Kong Polytechnic
University not only ranks as the largest, but also possesses
the longest history. With over 2,000 full-time and part-time
students, the Department is currently the largest provider
of entrants into the accountancy and finance profession in
Hong Kong. The Department has over 50 full-time teaching staff,
most of whom hold PhD degrees as well as multiple professional
qualifications.
With a mission which emphasizes the need to serve "the needs
of a dynamic community", the Department runs - on top of its
full-time undergraduate programs -six part-time postgraduate
programs catered to the needs of working professionals. This
also makes the Department one of the largest providers of
postgraduate programs in accounting and finance in Hong Kong.
Programs such as the Doctor of Accountancy and Master of /
Postgraduate Diploma in Corporate Finance are designed to
serve finance and accounting executives who wish to further
enhance their expertise knowledge. To help busy executives
overcome time and place constraints, the Department has introduced
on-line learning through its CyberU in 2000. Its first program
- Master of Professional Accounting - saw enrolments leap
five-fold within the short span of one academic year.
2 HKUST Business School
www.bm.ust.hk/execprog
Rated as the best business school in Asia (Asia-Inc, August
2001) and honored in the World's top fifty league of business
schools by the Financial Times (January 2001), the HKUST Business
School has rocketed to the top within ten years of its inception.
Through its Executive Education Programs, the B-School equips
managers with up-to date strategic business knowledge and
solutions to challenging business issues in China Business,
Leadership, Team Building, Crisis Management, Accounting,
Finance, Strategy, Technology Management and Marketing. The
School, with strong international alliances, a much-acclaimed
world-class faculty and cutting-edge research, offers Open
and Custom programs in a cross-cultural environment that mixes
Western academic rigor with Asian realities. While the custom
programs are developed in close association with organizations
to address specific needs, the short open programs focus on
updating managerial skills for individual advancement. A blend
of experiential and action learning, simulation exercises
with case studies, lectures and seminars together produce
a delightful cornucopia of experiences that make the learning
intense and impactful. The program's diverse learning approaches
challenges managers to develop new perspectives, and strive
for realistic business solutions when they go back to put
into practice the learning.
This has resulted in strong endorsement for the programs from
companies like Morgan Stanley Dean Witters, PricewaterhouseCoopers,
Merck KGaA, DaimlerChrysler, Vivendi Water, HKSAR Government
and China Mobile, among others. The HKUST Executive Education
Center leverages on the strength of its international alliances
through a consortium program with Kellogg which gives organizations
an opportunity to hone the general management skills of their
future leaders.
"We all know how unique the China market is and even many
years of experience do not equip you to face some complex
situations. Meeting the China Challenge program covers critical
areas from HR to legal issues to investment decision making,
focusing on how to succeed in China." Ms. Alice CHAN, Finance
Director of Greater China Region, Compaq Computer Ltd.
Contact: Betty Lau, Assistant Director, Executive Programs
& External Development, School of Business & Management, Hong
Kong University of Science & Technology, Clear Water Bay,
Kowloon, Hong Kong.
Tel: (852) 2358-8947
Fax: (852) 2335-5836
3 Kellogg-HKUST Executive MBA
www.bm.ust.hk/emba
You may be at a point in your career where you have mastered
your own field, but you want a more thorough understanding
of other business functions. You're an organization leader,
but you're eager to prepare for even greater challenges ahead.
The Kellogg-HKUST Executive Master of Business Administration
Program, which capitalizes the combined strengths of the renowned
Kellogg Graduate School of Management of the Northwestern
University and the School of Business and Management of the
Hong Kong University of Science and Technology, may be the
next step for you. The Kellogg-HKUST EMBA program is a 16-month,
part-time general management program. It is tailor-made for
senior executives in Asia who have attained positions of leadership
within their organizations to meet the greater challenges
ahead from a global and integrative perspective.
The next intake will commence in January 2002, and the application
deadline is 30th September 2001.
Telephone: (852) 2358 4180
Fax: (852) 2358 1514
Email: emba@ust.hk
4, INSEAD
www.insead.edu
INSEAD, the number one non-US business school is the only
business school with totally integrated, inter-connected twin
campuses in Asia and Europe. INSEAD's Fontainebleau and Singapore
campuses are the twin hubs of a growing global knowledge network,
redefining the traditional business school model.
INSEAD has major strengths in all business disciplines and
has produced a substantial amount of research on Asian businesses.
This knowledge is conveyed through its one-year MBA, as well
as its Executive Education and PhD programmes. Learning at
INSEAD develops a unique brand of global management expertise.
Participants interact with faculty and fellow students in
a truly multicultural environment, gaining insights into international
business practice.
During the year 2000-2001, there are 726 MBA students, 6,000
Executive Education participants and 52 PhD students being
taught by 192 standing, affiliate and visiting faculty. There
are more than 75 nationalities represented at INSEAD's two
campuses. This truly signifies INSEAD's motto of "enrichment
through diversity".
For further details about the courses on offer please call
+65 799 5388.
5 Macquarie Graduate School of Management
(MGSM)
www.gsm.mq.edu.au
Established in 1969, Macquarie Graduate
School of Management (MGSM), the postgraduate business school
of Macquarie University in Sydney, has earned an enviable
reputation as a leading business school in the Asia-Pacific
region. MGSM is ranked as the leading business school in New
South Wales (Business Review Weekly, January 2000), in the
top 8 business schools in the Asian region (Asiaweek, 2000)
and one of the top 40 business schools worldwide for executive
education (London Financial Times, June 2001).
MGSM teaches in Australia, Singapore and Hong Kong, offering
a full range of postgraduate programs. MGSM looks for the
best MBA applicants - high performing, high potential professionals,
possessing a recognised first degree and a minimum of five
years' relevant work experience. Students may pursue a general
management program or follow a specialist management stream.
With 36 dedicated full-time faculty and 60 part-time faculty,
students experience quality education that bridges the gap
between theory and practice. Face-to-face class work, combined
with innovative electronic teaching methods, real-world case
studies and analysis, research and syndicate group work form
part of the learning approach. Students receive superior levels
of client support throughout their program. Graduating students
continue to benefit from MGSM's executive careers placement
service and a global network of over 6,000 alumni.
Sydney: + 612 9850 9017
Singapore: +65 835 0355
Hong Kong: +852 2774 8533
Email: gsminfo@gsm.mq.edu.au
6 The Management Development Institute
of Singapore
www.mdis.edu.sg
The Management Development Institute of Singapore (MDIS) is
the oldest not-for-profit professional institute for lifelong
learning in Singapore. Founded in 1956, MDIS is one of the
most established professional management institute in Singapore.
Approaching the fifth decade, MDIS has maintained its dedication
to the professionals through the provision of well-accredited
courses, seminars and management services.
MDIS has also provided the opportunity for individuals to
develop professionally through academic programmes that are
offered in collaboration with acclaimed universities from
Australia, United Kingdom and the United States of America.
Since 1956, MDIS has been assisting individuals to make strategic
career moves. The success of MDIS' graduates is attributed
to the Institute's strong commitment to high quality standards
of education.
Vision: To be the premier management institute in Singapore
and in the region. Mission: To prepare individuals and organisations
in Singapore and the region to stay competitive through the
provision of excellent training and well-accredited programmes.
7 University of Michigan Business
School Executive Education Center
www.execed.bus.umich.edu
The University of Michigan Business School Executive Education
Center's Asia Pacific Regional Office, based in Hong Kong,
delivers a comprehensive portfolio of short management programs
tailored to address the needs of executives in Asia. These
programs feature world-renowned Business School faculty and
explore issues, both academic and practical, directly related
to the region. To date, over 2,000 participants have benefited
from the Executive Education Center's programs in Hong Kong
and Singapore. A Management Series of personal development
programs commences at junior management level with a three
day delivery, "Developing the Manager in You" through to mid
to senior management five day offerings of "Leadership in
Action" and "Management of Managers" programs. A new addition
to the 2002 portfolio includes The Senior Executive Leadership
Program in Asia to be delivered in Phuket, Thailand - a two-week
multi functional executive program for regional senior management.
In addition to the broad catalog of open enrollment programs
offered in selected locations throughout Asia, the University
of Michigan Business School also offers Certificate and Custom
Programs with a variety of flexible options to help meet organization-specific
or personal development goals.
email: enquiry4@umich.edu
8 Australian National University's
National Graduate School of Management
http://ngsm.anu.edu.au/cfoe
The National Graduate School of Management (NGSM) is the Australian
National University's business school. Formed in 1994 the
School has developed a particular focus on international business
and innovation. The School provides high quality postgraduate
teaching and research in management and business and tailored
executive management programs for Australian and international
corporate clients. We enhance the management capabilities
of a select group of future and present business leaders and
government officials in Australia and the Asia Pacific region.
Our success is based on:
Listening to clients and developing management programs to
meet their individual needs
Accessing the best teaching from a range of Australian and
international business schools
Forming strategic alliances with leading edge companies
Improving and ensuring education offerings remain attuned
to the dynamics of global business needs
Phone: +61 2 6125 9830
Fax: +61 2 6125 4895
Email: ngsm@anu.edu.au
9 PURPLETRAIN.COM
www.purpletrain.com
PurpleTrain.com is Asia’s first e-learning service provider
offering a one-stop service for Business and IT education
programmes, corporate training courses and education-related
services. By combining innovative technology with world-class
training content, PurpleTrain.com delivers anytime, anywhere
learning. It offers both companies and individuals a high
value, quality and effective online training solution. Over
300 online courses are available, ranging from certificate,
diploma, degree to master programmes, in IT training, Business
and Professional Development programmes. PurpleTrain’s cybercampus
epitomises the value of continuous lifelong learning and has
provided students from all over the world with access to internationally
renowned courses without having to leave their countries and
without affecting their work schedules.
This flexible virtual learning vehicle is well-supported by
comprehensive online learning tools. Students can access course
materials conveniently through a Web browser, engage in synchronous
chats with their course facilitators, post questions in the
discussion rooms, make payments online, and reap the benefits
of collaborative learning through online discussions with
facilitators and course-mates in other parts of the world.
In addition, it also provides services like monitoring and
feedback of students’ progress and performance, private e-mail
facilities as well as round-the-clock customer service. PurpleTrain.com
is a 100%-owned venture of Informatics Holdings Limited, a
leading training and education provider listed on the Singapore
Stock Exchange. Its online learning community now stands at
over 40,000 users from all over the world.
email: enquiry@purpletrain.com
10 Richard Ivey School of Business
(Asia)
www.ivey.com.hk
As a world leader in developing global business managers,
the Richard Ivey School of Business at The University of Western
Ontario has taken a leadership role in enhancing the skills
of Asian managers to compete in global markets. With a Canadian
base spanning 80 years, Ivey has been consistently ranked
among the best in the world for its MBA and executive programs.
Ivey placed 19th for the second consecutive year in a comprehensive
survey conducted by The Financial Times in January 2001. This
survey ranked the best 100 full-time MBA programs in the world
and Ivey placed ahead of a number of prominent institutions
including Yale, Darden, USC and Oxford. Ivey placed number
one in the world for "value for money", which determines the
rate of return for each dollar spent between the start of
the MBA to three years following graduation.
Our first Hong Kong EMBA class began in August 1998. This
is a 22-month, part-time MBA program, which focuses on international
general management. Our current class is made up of 47 executives
with an average of 13 years of working experience. By joining
our Program, they will graduate with a full Master of Business
Administration degree from The University of Western Ontario
and will develop strong analytic, decision-making, and leadership
skills in all areas of business. Classes are held in specially
designed classrooms in Ivey's Cheng Yu Tung Management Institute
and are taught by Ivey's best professors from Canada. Ivey
is the first North American Business School to build a campus
in Asia. This places Ivey at a very unique position - the
only world ranked business school with programs delivered
right here in Hong Kong exclusively by professors from the
Canadian home campus.
Contact Amelia Chan at:
Executive MBA Program Services,
Richard Ivey School of Business, Cheng Yu Tung Management
Institute,
5th floor, Phase I, Hong Kong Convention & Exhibition Centre,
1 Harbour Road, Wanchai, Hong Kong.
Tel.: 2135 2299
Fax: 2808 4433
E-mail: amelia_chan@ivey.com.hk
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