https://www.scmp.com/rss/503616/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com [Sponsored Article] More than ever, our new generation needs to develop entrepreneurial skills and an innovative mindset. These qualities will help them build a dynamic career and thrive in the new economy. Fostering a culture of entrepreneurship and innovation is a key pillar at HKUST.  Entrepreneurship and innovation require a robust and multi-faceted ecosystem. As a hub where business and technology talent converge, HKUST Business School plays an integral role in building the ecosystem.  This... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032456/message-dean?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032456/message-dean?utm_source=rss_feed Tue, 15 Oct 2019 04:57:42 +0000 [Sponsored Article] Innovation is the key to success in our ultra-competitive world. The latest advances in artificial intelligence, blockchain, cloud technology and big data not only provide new sources of inspiration that drives innovation, but also fuels startups around the world. The new wave of startups are challenging traditional business models and no one can succeed by maintaining the status quo. In recent years, Hong Kong has cultivated some homegrown unicorns and attracted investment... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032457/entrepreneurship?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032457/entrepreneurship?utm_source=rss_feed Tue, 15 Oct 2019 04:56:54 +0000 [Sponsored Article] Five years ago, the Hong Kong entrepreneurial ecosystem had little to show for itself. It was easy for critics to say that Hong Kong had fallen behind other cities, and that the few thriving startups were isolated successes that were not supported by a robust ecosystem.  Today, the picture has changed as reflected by some key indicators. In 2014, Hong Kong had no unicorns – defined as companies with a valuation of US$1 billion or more. By 2018, there were eight unicorns in... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032459/driving-innovation?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032459/driving-innovation?utm_source=rss_feed Tue, 15 Oct 2019 04:56:21 +0000 [Sponsored Article] According to Dr Zeman, the Chairman of Lan Kwai Fong Group, the concepts of entrepreneurship and innovation have been around since the beginning of time. In today’s world, innovation has become even more important due to the speed that technology is changing and adapting.  “Technology is changing the world, and changing things so quickly,” says Dr Zeman. “Last year, the two buzzwords were AI (artificial intelligence) and VR (virtual reality), and everyone was on that track.... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032462/secret-my-success?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032462/secret-my-success?utm_source=rss_feed Tue, 15 Oct 2019 04:55:57 +0000 [Sponsored Article] The entrepreneurial spirit has been an important asset to Hong Kong, having built and rejuvenated the economy in previous generations. “Hong Kong has what we have today because of the entrepreneurial spirit upheld by our older generations,” Yan says.  Cyberport manages a leading technology park which plays a key role in incubating and supporting the growth of Hong Kong’s startup ecosystem. Yan took the helm of Cyberport in early 2018, having spent over 30 years in the... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032464/startup-spirit?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032464/startup-spirit?utm_source=rss_feed Tue, 15 Oct 2019 04:55:11 +0000 [Sponsored Article]   “China and the US are equally matched in terms of their achievements in tech. But China is much better at the kind of data collection that’s needed for AI, so China is developing much faster than the US in that area,” Leung says.  Biotech is another fast-growing sector in China. While the US has more innovations and innovators in biotech, China is catching up fast. According to Leung, around a quarter of biotech scientists in the US come from China, and many are hoping to... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032468/wealth-opportunity?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032468/wealth-opportunity?utm_source=rss_feed Tue, 15 Oct 2019 04:54:51 +0000 [Sponsored Article]   For budding entrepreneurs, one of the first lessons to learn is that there are a lot of ideas for sure-fire winners and killer apps out there, and most of them end up going nowhere. What typically makes the difference between success and failure is a clear-sighted understanding of the realities of the business world, and a willingness to listen to practical advice at pivotal moments.  Would-be entrepreneurs need to have more than a good idea to succeed, says Albert Wong,... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032473/making-it-real?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032473/making-it-real?utm_source=rss_feed Tue, 15 Oct 2019 04:54:29 +0000 [Sponsored Article] Around nine years ago, Yvette Yeh Fung was tasked by her father to lead the family foundation, The Yeh Family Philanthropy. Fung, who trained as a lawyer, studied the latest developments in the philanthropy space, and noticed a need for growth in the social entrepreneurship and venture philanthropy sector in Hong Kong.  In the past, a social enterprise would typically  be a side business started by a non-government organization (NGO) which aimed at generating employment for... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032474/growing-goodness?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032474/growing-goodness?utm_source=rss_feed Tue, 15 Oct 2019 04:54:03 +0000 [Sponsored Article] A new practical and inspiring space at HKUST for student teams to get their ideas off the ground •    An internal area of 460 square meters  •    4 rooms/workshops with modern facilities   •    An open incubatory area for up to 20 student teams  •    A moveable partitioned corner for seminars of up to 40 participants •    1 open pantry https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032475/incubator?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032475/incubator?utm_source=rss_feed Tue, 15 Oct 2019 04:53:41 +0000 [Sponsored Article]   In the world of innovation, action is the key to success. Our alumni are taking action every day, tackling intriguing problems and building new solutions from their bases in Hong Kong, Mainland China, Europe, India, and beyond.  Our alumni’s entrepreneurial ventures may sound simple, but there is more than meets the eye regarding the technology they have developed and their business models.  In the following pages, Rao Xiang (HKUST EMBA), Founder of AXON Technology, talks... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032479/action-key?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032479/action-key?utm_source=rss_feed Tue, 15 Oct 2019 04:53:14 +0000 [Sponsored Article] When he was still a PhD student, Rao Xiang founded Axon Technology, a company that applied data engineering and machine learning into the field of telecommunications back in 2003 – a time before ‘big data’ had been coined as a term. Always ahead of the trends, Rao helped banks and insurance firms in China evaluate the creditworthiness of tens of millions of potential customers, before fintech became recognized as a solution for inclusive finance.  In the past, it was not easy... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032480/ahead-curve?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032480/ahead-curve?utm_source=rss_feed Tue, 15 Oct 2019 04:52:48 +0000 [Sponsored Article] Tech entrepreneurs often have ambitious personalities and big imaginations. They want to develop products with many functionalities to serve different customer segments. But according to seasoned entrepreneur Victor Ruiz - Co-founder and CEO of actiMirror, and an alumnus of the Kellogg-HKUST Executive MBA (EMBA) Program - it’s better to “keep it simple”. Although it’s tempting to design a product which solves multiple problems, successful products are usually highly focused,... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032482/keep-it-simple?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032482/keep-it-simple?utm_source=rss_feed Tue, 15 Oct 2019 04:52:17 +0000 [Sponsored Article] Innovation does not necessarily mean cutting-edge technology. A scalable, monetizable business model could also be described as innovation at its finest. Jess Cheng, an HKUST BBA alumna, co-founded ChargeSpot, the world’s largest transnational power bank sharing platform. The economies of scale that ChargeSpot managed to build have been essential to its success.  Cheng co-founded ChargeSpot in Hong Kong in 2018, and the service has since expanded to cities in Taiwan, Japan,... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032554/charging-ahead?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032554/charging-ahead?utm_source=rss_feed Tue, 15 Oct 2019 04:51:55 +0000 [Sponsored Article] For Pandey, this is a perfect combination of his skills and passion. Many career paths were open to Pandey, who has a software engineering background, a computer science degree, an MBA from HKUST, and the experience as a “Teach for India” fellow.  “Teach for India” is a non-profit organization that is a part of the well-known global “Teach for All” network. The “Teach for” organizations recruit college graduates and working professionals to serve as full-time teachers in... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032564/empowering-startups?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032564/empowering-startups?utm_source=rss_feed Tue, 15 Oct 2019 04:51:22 +0000 [Sponsored Article] “I genuinely enjoy the idea of a collaborative mindset, openness to experiment with different solutions, and the selflessness of most leaders,” says Fung, a startup and tech enthusiast.  Fung is intrigued by the concept of delivering social impact through entrepreneurship. With his own startup experiences, he is passionate about helping other entrepreneurs or like-minded peers to validate their ideas and scale their businesses to create a positive impact. “I was brought up as... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032566/forging-path-support-social?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032566/forging-path-support-social?utm_source=rss_feed Tue, 15 Oct 2019 04:49:57 +0000 [Sponsored Article] Entrepreneurial teams specializing in artificial intelligence (AI) took the spotlight at the 2019 HKUST-AXON “AI” One Million Dollar International Entrepreneurship Competition in Beijing. Ten finalists from across the nation vied for a one million yuan cash award from the judges in the finals, which took place on August 31. Voibook Technology, a startup with an AI-enabled aid to cope with hearing and speaking impairments, took the top spot.  As a flagship entrepreneurship... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032572/intelligent?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032572/intelligent?utm_source=rss_feed Tue, 15 Oct 2019 04:49:07 +0000 [Sponsored Article] The insight and expertise of our faculty and alumni drives the vibrant exchange of ideas and discussions.   The Alibaba Entrepreneurs Fund is a not-for-profit initiative launched by the Alibaba Group. Its mission is to help Hong Kong and Taiwan-based entrepreneurs and young people realize their dreams and visions for their businesses and communities. Our MBA alumna Cindy Chow, Executive Director of the Alibaba Hong Kong Entrepreneurs Fund, talks about ways to foster the next... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032576/insight-faculty-and?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032576/insight-faculty-and?utm_source=rss_feed Tue, 15 Oct 2019 04:48:23 +0000 [Sponsored Article] Despite progress made over the last decades with respect to poverty reduction, notably in China, there are still large unmet social needs and massive efforts required to reach the United Nations’ Sustainable Development Goals (SDGs). More than 700 million people, or ten per cent of the world population, still live in extreme poverty, subsisting on less than US$1.90 per day. Hundreds of millions of people lack access to basic necessities like sanitation, safe drinking water,... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032818/positive-contributions-society?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032818/positive-contributions-society?utm_source=rss_feed Tue, 15 Oct 2019 04:47:45 +0000 [Sponsored Article] Entrepreneurship is one of the core values of Alibaba. We believe that entrepreneurship can be applied not only to one’s business venture, but also to one’s life. The boldness of exploring outside of one’s comfort zone and harnessing creativity is the basic ingredient for Hong Kong’s younger generation to keep the city vibrant and competitive. The Alibaba Hong Kong Entrepreneurs Fund (AEF), on which I serve as Executive Director, is committed to building Hong Kong’s... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032825/transforming-hong-kong-through?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032825/transforming-hong-kong-through?utm_source=rss_feed Tue, 15 Oct 2019 04:47:11 +0000 [Sponsored Article] Family business is the dominant form of business worldwide, and even more so in many economies in Asia, where family ownership is often more concentrated and contributes a greater proportion to a country’s GDP. For example, nearly 70 per cent of listed companies in Hong Kong are family businesses, and the top 15 families contribute over 80 per cent of GDP. In Mainland China, despite of a much shorter history of family businesses (around 40 years), it contributed over 60 per... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032829/innovation-and-technology-asian?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032829/innovation-and-technology-asian?utm_source=rss_feed Tue, 15 Oct 2019 04:46:43 +0000 [Sponsored Article] Venture capital (VC) financing of entrepreneurial firms receives a lot of press coverage. VC financing is very difficult to obtain for most entrepreneurs, so there is much to discuss about who gets it and how. Yet, as both entrepreneurs and venture investors know, the odds of success after the venture financing remain very small. My research with Kathy EISENHARDT at Stanford University suggests that CEO-board relationships and strategy processes in VC-backed ventures can be a... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032831/new-venture-boards-how-harness?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032831/new-venture-boards-how-harness?utm_source=rss_feed Tue, 15 Oct 2019 04:41:01 +0000 [Sponsored Article] Only the most promising and innovative of the entrepreneurial firms are able to do an initial public offering (IPO). For those who can, an IPO is a major transformative event that is unlike others. The crucial transition to becoming a public firm is paved with new challenges and dilemmas that can shape the trajectory of these entrepreneurial firms.  In this article, we shed light on two critical aspects that first surface in the firm’s life at IPO: formal board leadership... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032835/scaling-ventures-through-ipo?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032835/scaling-ventures-through-ipo?utm_source=rss_feed Tue, 15 Oct 2019 04:40:19 +0000 [Sponsored Article] Can Virtual Banks Coexist with Traditional Banks? To mark the launch of the new MSc in Fintech Program, jointly offered by the three Schools at HKUST for the first time, a fintech symposium was held on August 17.    According to a panel of financial experts, virtual banks and traditional banks can comfortably co-exist while facilitating financial innovation and enhancing customer experience. Virtual banks are viewed as a key component of Hong Kong’s push for smart... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032837/banking-future?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032837/banking-future?utm_source=rss_feed Tue, 15 Oct 2019 04:36:26 +0000 [Sponsored Article] HKUST signed a Memorandum of Cooperation in June with the China Banking Association, Shenzhen University, and the China Construction Bank University to co-develop a professional qualification for fintech practitioners in China. This collaboration manifests a pioneering effort between Mainland China and Hong Kong to establish a nationwide qualification framework and enhance professionalism for the fintech industry. In response to a strong demand for fintech talent in China,... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032834/first-fintech-qualification?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032834/first-fintech-qualification?utm_source=rss_feed Tue, 15 Oct 2019 04:35:09 +0000 [Sponsored Article]   In driving Hong Kong’s burgeoning multidisciplinary fintech sector, the launch of the MSc in Fintech program will provide students with a prime opportunity to enhance their career opportunities in a new sector that continues to change the global financial system. Jointly offered by the Schools of Business and Management, Engineering, and Science, it is the first time the three Schools have combined their strengths to create a new degree program designed to prepare... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032832/changing-system?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032832/changing-system?utm_source=rss_feed Tue, 15 Oct 2019 04:34:32 +0000 [Sponsored Article] KPMG’s 10-week paid internship program allows HKUST Master of Science in Accounting (MSAC) students in the accounting analytics concentration to experience working life at this professional services firm. Offered through KPMG’s University Collaboration program, participants also learn about the industries and clients that KPMG services, and begin to develop a network of professional relationships. Five MSAC students joined the first internship program, and the number is... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032826/learning?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032826/learning?utm_source=rss_feed Tue, 15 Oct 2019 04:32:12 +0000 [Sponsored Article] Accounting errors are a commonly acknowledged phenomenon. A 2007 Wall Street Journal report found about 10 per cent of public companies in the US issued financial restatements to address errors, and it is likely many more errors did not get corrected. Yet despite this magnitude, there has been little empirical testing of the effect of errors on firm reporting incentives. Research by Vivian W Fang, Allen H Huang and Wenyu Wang addresses that gap using real data that shows... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032998/carrot-and-stick-effect?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3032998/carrot-and-stick-effect?utm_source=rss_feed Tue, 15 Oct 2019 04:00:00 +0000 [Sponsored Article] Whether it is believing in something lucky, like a four-leaf clover, or in bad omens such as breaking a mirror or walking under a ladder, superstition exists around the world. In Chinese culture, for example, the number ‘8’ is believed to be lucky, whereas the number ‘4’ is unlucky. This is because in Mandarin, the pronunciation of ‘8’ sounds like ‘good fortune’ and ‘4’ sounds like ‘death’. It is therefore surprising, considering how pervasive superstition is globally, that... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033013/influence-lucky-numbers?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033013/influence-lucky-numbers?utm_source=rss_feed Tue, 15 Oct 2019 03:55:00 +0000 [Sponsored Article] Market demand is often assumed to be shaped by the same characteristics as individual consumer behaviour – for instance, to be more responsive to losses than gains if consumers are loss averse. But new research shows that such assumptions can be misleading. Zhenyu Hu and Javad Nasiry demonstrate that the diversity of consumer valuations for a product – whether a consumer sees a price as a loss, gain, or neutral – means individual consumer behaviour does not necessarily get... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033017/loss-averse-consumers-may-not?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033017/loss-averse-consumers-may-not?utm_source=rss_feed Tue, 15 Oct 2019 03:50:00 +0000 [Sponsored Article] For most companies, TV remains the primary means of advertising, with commercials accounting for 40% of global advertising spending. However, increasingly, the TV industry is facing fierce competition from new media channels, as well as advances in technology that allow viewers to skip commercials all together. It is therefore imperative for the industry to understand how commercial breaks affect their viewership and hence strategically manage the timing of these breaks. A... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033018/channel-surfing?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033018/channel-surfing?utm_source=rss_feed Tue, 15 Oct 2019 03:45:00 +0000 [Sponsored Article] Dr Samuel Johnson, the celebrated 18th century British writer, is famously quoted as saying, "No man but a blockhead ever wrote except for money." While the seriousness of his words has been the subject of some debate down the centuries, the broader question of to what degree creativity comes from within, or is driven by external rewards, has long been an issue of even greater contention. And, given that economic success or failure is increasingly likely to be... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033022/creative-impulses?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033022/creative-impulses?utm_source=rss_feed Tue, 15 Oct 2019 03:40:00 +0000 [Sponsored Article] Two organizations are more likely to establish a connection if they have a pre-existing relationship with a common partner or intermediary—this is known as triadic closure and has long been of interest to scholars. However, all of the research up until this point has failed to take into account the importance of the intermediary in facilitating or even reversing this process. Indeed, existing research completely ignores the attitudes and motivations of the intermediary, and... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033026/interorganizational?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033026/interorganizational?utm_source=rss_feed Tue, 15 Oct 2019 03:30:00 +0000 [Sponsored Article] A key challenge in supply chain management is to match supply and demand of various products. In dealing with this challenge, substitution is a useful option of recourse for managing product inventories: when the demand for a certain type of product exceeds its supply, use another product type, often one of a higher grade in terms of quality or functionality, as a substitute to supply the demand, at the demanded product’s price. For instance, semiconductor manufacturers may... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033029/buying-and-selling?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033029/buying-and-selling?utm_source=rss_feed Tue, 15 Oct 2019 03:25:00 +0000 [Sponsored Article] Online hiring is often assumed to reduce biases based on gender, age or race because such information is often not explicitly revealed by job applicants. But a new study shows that biases are alive and kicking thanks to subtle cues from applicants’ names and photos. Jason Chan and Jing Wang looked at gender bias, which is well-documented offline to be tilted against females. Their surprising finding is that the opposite happens online: employers tend to favour female... https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033032/female-hiring-bias?utm_source=rss_feed https://www.scmp.com/presented/business/topics/hkust-biz-school-magazine/article/3033032/female-hiring-bias?utm_source=rss_feed Tue, 15 Oct 2019 03:15:00 +0000