Alumni's Entrepreneurial Spirit Shines at Annual Work Conference in Nanjing

 
Alumni's Entrepreneurial Spirit Shines at Annual Work Conference in Nanjing
alumni chapter sharing

 30

Alumni’s Entrepreneurial Spirit Shines
at Annual Work Conference in Nanjing

                          “B
   By Lei Na                              esides global rankings     organisations.
                                          and research output,           The CEIBS Alumni Chapter
                                          alumni accomplishments     Nanjing helped organise the main
                          are integral to a business school’s        conference and related events held
                          success,” said CEIBS President Professor   over the three days. Many of these
                          Li Mingjun. He was giving the welcome
                          address at the Third CEIBS Alumni
                          Association Council Preparation
                          Meeting held in Nanjing on April 14.
                          The meeting was just one in a series of
                          events that made up the CEIBS Alumni

                                                                     activities provided participants with
                                                                     opportunities for continued learning,
                                                                     a key component at most of the
                                                                     school’s alumni gatherings. In fact
                                                                     CEIBS alumni have made a significant
                                                                     contribution to the school’s efforts
                                                                     at knowledge creation, as noted
                                                                     by President Li in his address. For

                          Association Working Conference 2017
                          that brought 180 alumni and school
                          leaders to the Yangtze River Delta city
                          from April 13 to 16. They gathered to
                          recognise alumni’s contributions to the
                          school’s development and explore new
                          ways to strengthen the synergy between
                          the school and its various alumni

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example over half the case studies     15, President Li, who is also CEIBS
that the school has contributed to     Alumni Association President, spoke
the Global Platform of China Cases     about how China has become a leading
have been based on the management      voice in globalisation, and the new
practices of CEIBS alumni companies.   challenges and opportunities this poses
                                       for business schools and their alumni.
                                       He also highlighted CEIBS’ many
   Global Footprint
                                       development milestones in 2016 and
    Over the years, the school has     said the school is looking, in its new
worked closely with its graduates      Five-Year Plan, for ways to heighten
and one core element of CEIBS’         the role its alumni play. President Li
strategy is to provide support         added that he believed the conference
for alumni companies as they go        would help build consensus and create
global. As he officially opened        a community in which the school and
CEIBS Alumni Association Annual        its alumni share a sense of purpose
Working Conference 2017 on April       towards future development.
                                             CEIBS alumni are already making
                                       a difference across the globe as well
                                       as in China. In his keynote address
                                       at the Conference, the Vice Mayor of
                                       Nanjing Mr Huang Lan spoke about his
                                       appreciation for the talents of CEIBS
                                       alumni, saying he hopes there will be
                                       more opportunities for exchange and
                                       cooperation between alumni and the
                                       city. Nanjing’s GDP exceeded RMB1
                                       trillion in 2016, ranking it at 11th in the
                                       country, he noted, as it works towards

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                          “As the new council begins, the work of CEIBS alumni
                          enters a new phase where we all play a more prominent
                          role, and the school provides stability, supervision and
                          support.”
                                                   - President of the Third Alumni
                                                  Association Council, Tian Ming

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CEIBS Alumni Association & Council Milestones
  The CEIBS Alumni Association was founded on May 8, 1995. By 1997 the number of alumni had grown to 335.
  During the annual meeting in June 1997, 47 alumni were elected to the first Alumni Council and the Articles
  of the CEIBS Alumni Association were discussed and passed.
  The Second Alumni Association Council began in 2009 with 85 honorary members and 163 members. The
  Articles of the CEIBS Alumni Association were revised so that council members would serve a five-year term.
  The CEIBS Alumni Working Committee was launched in early 2017 with the approval of the school’s
  Management Committee and a vote by a majority of the members of the Second Alumni Association Standing
  Council. The Committee’s first president is CEIBS alumnus Tian Ming. The school then decided to expand the
  30-person Alumni Working Committee by adding an additional 20 members, and forming the Third Alumni
  Association Council. The names of the council members are listed below. They are entrepreneurs and mid-to-
  top-level managers who are willing to make contributions to the school, and they come from various regions,
  industries, programmes and backgrounds. Members of the Alumni Association aim to better serve the alumni
  community, give back to their alma mater, and contribute to society while providing a platform for alumni to
  collaborate with each other and the school.

                                    meeting its targeted contributions to       who noted that it was because of
                                    China’s 13th Five-Year Plan.                alumni support that the school was
                                         CEIBS Assistant President and          able to establish its European base
                                    Management Committee Member                 in Zurich. He also spoke about the
                                    Dr Snow Zhou told the gathering             series of alumni study tours the school
                                    that finding ways to further tap the        held in Europe to explore topics such
                                    potential of the school’s alumni, to keep   as Industry 4.0, brand building, and
                                    pace with today’s rapid globalisation,      healthcare innovation.
                                    will be the challenge for the future. He
                                    noted that the world’s best business
                                                                                        Local Impact
                                    schools all utilise a five-link theory:
                                    faculty, students, alumni, resources and        In addition to their global footprint
                                    branding. CEIBS’ alumni network –           and noticeable presence in Nanjing,
                                    with more than 19,000 alumni from 85        CEIBS alumni have also made a huge
                                    counties and regions – and its strong       impact in other cities across China –
                                    alumni organisations already has a          and to the school. Deputy Director of
                                    solid foundation, he said.                  the CEIBS Alumni Relations Office Ms
                                         The topic of globalisation was also    Tanya Fu spoke about the contributions
                                    touched on by CEIBS Vice President          that Alumni Association members had
                                    and Co-Dean Prof Zhang Weijiong             made to the CEIBS community in 2016.

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                          Cai, Mingpo, EMBA 04 SH3, CEO 09     Ren, Yuxin, EMBA 06 BJ3
   Third CEIBS            Cao, Jie, EMBA 07 SH2, CEO 10        Tang, Qiqing, EMBA 96 SH2
   Alumni                 Chen, Nan, EMBA 05 SH6               Tian, Ping, EMBA 05 BJ3
   Association            Chen, Zhihai, EMBA 98 SH2
                          Chi, Hong, EMBA 97 SH1
                                                               Wang, Hongjie, EMBA 06 BJ2
                                                               Wang, Lei, EMBA 01 SH1
   Council                Du, Haibo, EMBA 03 BJ2               Wang, Xu’ning, EMBA 01 BJ2
   Members                Guo, Guangchang, CEO 06              Wei, Feiyan, EMBA 04 SH5
                          He, Fulong, EMBA 07 SH6              Wei, Jie, EMBA 10 BJ3
   (in alphabetical       He, Caihong, EMBA 04 BJ3             Wu, Jian’gang, EMBA 08 SH7
                          Hu, Baosen, CEO 04                   Wu, Zhuping, EMBA 99 SH3
   order by last          Hu, Jianbo, EMBA 05 BJ3              Xia, Guoxin, EMBA05SZ2
   name)                  Huang, Fanzhi, MBA 03                Xie, Ming, EMBA 00 SH2
                          Jian, Peijian, MBA 08                Xiong, Fan, EMBA 03 BJ2
                          Jiao, Sheng, EMBA 08 SH6             Xu, Bo, AMP 9 2009
                          Lang, Wangkai, CEMI 6                Xue, Lei, AMP 18
                          Li, Gang, CEO 14                     Yao, Weiguo, EMBA 10 SH2,CELC 13,LCP 12
                          Li, Guang, EMBA 13 BJ1               Yu, Rong, EMBA 06 SH3
                          Li, Haixiang, EMBA 05 BJ3            Zhang, Feng, EMBA 99 BJ2
                          Li, Wen, EMBA 10 SH2                 Zhang, Haixia, CEO 09
                          Lin, Daxu, CEO 06                    Zhang, Hong, EMBA 01 BJ3
                          Muffler, Johannes, MBA 08            Zhang, Qiming, EMBA 07 SH2
                          Nadipineni, Vijay Kumar, MBA 12      Zhao, Xuejun, CEO 06
                          Ou, Shufang, EMBA 12 SH2             Zhou, Haibin, EMBA 12 BJ3
                          Pan, Gang, EMBA 02 BJ2               Zhu, Mingyue, EMBA 13 BJ1
                          Pan, Longquan, CEO 08

These include:                            Report on CEIBS Alumni’s Influence,        association… Our role is to serve, not
• more than 70 alumni sharing their       organise visits to impressive alumni       seek personal gain, just as we promised
    management practices by speaking      companies, and set up a systematic         in the oath we took.”
    at the school’s forums;               work exchange mechanism for alumni              The rebuilding work began after
• about 1,500 alumni writing              chapter secretaries general.               the Inauguration Ceremony with
    recommendation letters in support         The three days of events also          alumni gathering in smaller groups
    of programme applicants;              included an Inauguration Ceremony          to generate ideas for the school and
• more than 150 alumni joining the        w here memb ers of CEIBS T hird            the alumni association. Their selfless
    MBA Mentoring Programme as            Alumni Association Council received        dedication has not gone unnoticed.
    mentors;                              certificates of appointment from           “There will be many difficulties and
• more than 30 alumni participating       President Li, and Council President        challenges ahead, but everyone should
    in the research and development of    Tian Ming led the members in taking        stick to the CEIBS spirit, unleash their
    case studies by CEIBS faculty.        the oath of office. “CEIBS has taught      entrepreneurial spirit, focus on the big
    Ms Fu added that, in the year         me about entrepreneurial spirit,”          picture, collaborate with each other,
ahead, the CEIBS Alumni Association       said Mr Tian in his address during         and usher in a new age of alumni
plans to continue to optimise the         the ceremony. “Therefore, the CEIBS        work,” said President Li as he officially
alumni information system, and            Alumni Association will be pragmatic       closed the meeting.
improve services for alumni who live      and strategic. We will be guided by
and work abroad. It will also prepare a   entrepreneurial spirit as we rebuild our

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                                                 CEIBS Around the World
                                                 Highlights from our 5 locations

                                        AI CA
                                   GH
                                            MP
                            SHAN

                                                US

                                    上海

                         TEDxCEIBS 2017: RE(DE)FINE
                         The 5th Annual TEDxCEIBS          committee – Candice Hou,          CEO of ELLE China magazine,
                         event was held at the Shanghai    Charlotte Li, Allen Liu,          and Fei Deng (EMBA 2013),
                         Campus on April 14. Organised     Caroline Zhu, Ernesto Chief,      Editorial Board Member of
                         by CEIBS MBA students, this       Jeremy Zhang, Summer Xia,         Phoenix Weekly magazine and
                         year’s TEDxCEIBS brought          Chris Pang, Celine Feng and       founder of the Free Lunch
                         together eight dynamic thought    Clinton Wong – worked for         for Children Programme, as
                         leaders who shared their ideas,   several months to deliver this    well as Visiting Professor of
                         insights and inspirations on      memorable addition to the         Sustainability at CEIBS Richard
                         what “RE(DE)FINE” means           prestigious TEDxCEIBS event       Brubaker, who is Founder &
                         to them. The members of the       series. Speakers included CEIBS   Managing Director of Collective
                         2017 TEDxCEIBS organising         alumni Xiao Xue (EMBA 2011),      Responsibility.

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             G CAM
          IN
   BEIJ

                 PU
                     S
                                                                                             Prof Wang Gao

            北京

New Milestones for CEIBS AMP Programme
The newest Beijing cohort of the CEIBS             class; their study journey began March   Professor of Management and Co-
Advanced Management Programme                      22 with an Opening Ceremony at           Director of the Centre on China
(AMP) is its most diverse yet, with the            the Beijing Campus. CEIBS Assistant      Innovation at CEIBS Han Jian as
highest-ever ratio of female participants          President and Chief Representative       well as Director of CEIBS Executive
and the most varied industry                       of the Beijing Campus Ma Yusheng,        Education Programme in Beijing Li
background. With 70 participants, it               CEIBS Professor of Marketing and         Jianqing attended the ceremony.
is also the Programme’s largest Beijing            Associate Dean Wang Gao, Associate

                                      TEACHIN
                                 ENZHEN

                                               G C RE
                                                  ENT
                               SH

                                          深圳

               CEIBS Management
              Forum Held in
              Shenzhen
            CEIBS Professor of Economics
           and Finance Xu Xiaonian gave
          a speech titled “From Capital
         Accumulation to Technological
        I n n o v a t i o n” a t t h e C E I B S
        Management Forum in Shenzhen
       on March 2. More than a thousand
      Shenzhen entrepreneurs and CEIBS
     alumni attended.

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                 H CAM
            IC
      ZUR

                     PU
                         S

             苏黎世

         The Zurich Campus Team
       The sight of swans gliding along the waters of the pristine Lake Zurich
      isn’t a bad way to start, or end, the day. It’s a postcard-perfect view that
     staff at our Zurich Campus can enjoy – as long as they can find the time.
     They rarely can.

      Last year the 10-member team ran 35 Executive Education courses, welcomed
     the first module of the revamped CEIBS Global EMBA, and hosted 12 study
    tours. The number of activities, events and course participants are expected        Philipp Boksberger, CEO/
   to be even higher this year. This January there was a major step forward in          President
  integrating the Zurich Campus into CEIBS’ wider operations, with the name
 changed to Zurich Institute of Business Education, the use of the CEIBS email       “I was originally hired by Peter Lorange
 domain and a rebranded website. In this story we introduce four team members        in November 2011 to be COO of the
who explain the roles they play in the successful operation of the CEIBS Zurich      Lorange Institute of Business Zurich
Campus.                                                                              (LIBZ), responsible for business
                                                                                     development. I became CEO/President

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of LIBZ in 2013, a role that I remained in     me. It was a sunny day, Lake Zurich was       in maintaining a very flat organisational
after CEIBS’ acquisition of what is now its    mirrored in our huge windows, and there       structure and in his staff managing
Zurich Campus.                                 it was – CEIBS’ visible presence in Europe.   programmes vertically. By that I mean
                                                                                             from top to bottom, start to finish. As a
In leading our high-performance team I         This summer we will do the second-round       result, I have organisational responsibility
continuously try to increase the efficiency    refurbishing of the campus in order to        for all aspects of the programmes, from
and effectiveness of our operations, to        update the additional classrooms and the      induction to graduation – both front and
create new offers (based on market needs       lobby. After putting in new auditoriums       back office. I appreciate this as it means
and overall trends) and to develop new         and a new IT system (including                my job is very varied. The key advantage
revenue streams.                               simultaneous translation equipment)           is that I have the pleasure of seeing our
                                               we’ve invested in multifunctional             students go through their entire learning
I believe the Zurich Campus is crucial to      classrooms and created new workspace          journey. In any one day, I may be reviewing
supporting CEIBS’ ‘Global Breath’ as it        for our admin team in the lobby area,         applications, managing the budget,
serves as a very effective bridge between      adding to our overall concept of working      liaising with faculty, processing grades, or
China and Europe. CEIBS’ operations in         in an open space as it encourages close       organising a graduation ceremony. You
the heart of Europe will facilitate dialogue   interaction with our clients.”                may even see me vacuuming or clearing
and foster business between the two                                                          away used cups!
continents. Having additional operations
in Africa gives us a unique selling                                                          Many of my responsibilities are still very
proposition when we approach European                                                        similar to my original role as EMBA/EMSc
businesses as we are able to offer access                                                    Programme Manager, but there is now the
to two of the most dynamic and fastest                                                       added diversity of working internationally
growing markets in the world.                                                                with my counterparts in China and Ghana.
                                                                                             Another difference is that unlike the dual
I’m very proud of our highly motivated,                                                      degree students, who mostly come from
entrepreneurial and multicultural team.                                                      Europe and do almost all their modules
They believe, as I do, in the future of                                                      here in Zurich, the GEMBA cohort consists
the CEIBS Zurich Campus. But we                                                              of three distinct groups of students from
have always had a lean organisational                                                        Europe, China and Africa, and they have to
structure so, given the accelerated growth                                                   attend core modules on each of these three
in business (thanks mainly to activities           Kirsty Warwick, GEMBA                     continents. This offers students an extra
initiated from CEIBS’ other locations) I           Zurich Programme                          dimension to their learning, and the most
am a bit concerned that the team’s work-           Director                                  amazing opportunity to not only learn
life balance is suffering. However we do                                                     from CEIBS’ exceptional faculty, but also
our best, and try to focus on the positives.                                                 to gain invaluable knowledge of these three
For example, after a year-long transition,     “I was hired in 2013 as LIBZ’s Dual           quite different cultures by interacting, and
we rebranded the CEIBS Zurich Campus           Degree EMBA/EMSc Programme                    by sharing knowledge and best practices
this January. The moment when the              Manager. I’m still in that role but now I’m   with each other. What more could you
CEIBS logo was revealed on the entrance        also Programme Director for GEMBA             ask for from a Global Executive MBA
of the campus was a very proud one for         Zurich as well. Philipp, our CEO, believes    programme!

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If financial resources were not an issue, I   doing things and getting our policies and       vendors. I basically do everything I can so
would personally like to see a big branding   practices in place, the continued support       that each tour runs smoothly.
campaign to really launch the CEIBS           and guidance from the extended CEIBS
name across Europe. CEIBS is a great          family would be much appreciated.”              The Zurich campus is a bit like a start-
brand and our international rankings                                                          up, which I like because I’m flexible,
support this, but despite being a highly-                                                     open-minded and able to work without
recognised name in Asia, we are just not                                                      much guidance. Being able to speak
that well known in Europe yet. At the                                                         Chinese and several European languages
end of the day, people like familiarity.                                                      gives me an edge in this role. So does
The more our name becomes known                                                               my past experience working in a variety
and our reputation grows, the easier it                                                       of industries as this makes it easier to
will be for us to promote the GEMBA                                                           understand what our clients need from
programme. In the meantime, I get                                                             our programmes. If I had unlimited
such pleasure from knowing that what                                                          resources – both financial and human – I
we do matters. I was really moved by                                                          would spend a substantial amount of time
the impact the first module had on our                                                        developing more cutting edge content and
students. The Leadership Stream, run                                                          cultivating partners for our programme.
by Professor Jack Wood, offered the best          Li Ding-Serra, CEIBS
possible start to the programme. The              European Study Tour                         But of course time is also a factor – there
students clearly felt enlightened by the          Director                                    never seem to be enough hours in the
whole experience, from start to finish. I                                                     day. This is especially true when you’re
heard them making comments like, ‘this        “I was hired in 2016 to manage the then-        working across time zones. A clear goal,
has been life-changing!’ and ‘it’s blown my   newly-launched European Study Tour              a well-aligned motivation system and
mind!’ You really can’t ask for anything      Programme. One thing I really like about        good communication are the keys for
more than that. From my perspective, it       my job is that there are no ‘typical’ days;     any global entity to achieve its potential.
was wonderful to see such a dynamic and       but I’m generally on the phone and I run        In working with CEIBS’ other locations,
diverse group of professional individuals     around a lot.                                   it seems that the limiting factor is usually
come together for a week and form a tight                                                     the amount of time the key players have
cohort, pumped up and ready to take on        One aspect of my job is about building          to communicate. But overall I’ve had a
any challenge together!                       relationships with companies and                wonderful experience working with CEIBS
                                              experts from various fields as we create        staff from China; they’re very competent
For those who haven’t yet visited us in       unforgettable Study Tours and work with         and efficient. I would say that the best
Zurich I think it’s perhaps hard to imagine   companies that will be great examples of        part of my job, though, is being able to
just how small we are compared to CEIBS       Real Situation Learning. I work closely         work with all my colleagues here at CEIBS
Shanghai. There are only 10 of us in the      with our CEO Philipp Boksberger,                Zurich Campus. We help and support
team, of which only half work full-time.      my colleague Lili Zhao and the CEIBS            each other in every way we can. I’m often
And that’s for the entire campus. But even    professors on the tours. I do everything        working away from the office so it’s always
though we might be small, we achieve          from designing course outlines and              a pleasure to see them every time I’m back
a lot! So while we here at the Zurich         schedules, to coordinating logistical details   on campus.”
Campus are still learning the CEIBS way of    with each class coordinator and our

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                                              my own Executive MBA three years                potential students and/or alumni for
                                              ago, I’ve worked in leadership roles in         all our programmes. I like to take any
                                              global multinationals and high-end              opportunity to talk about the great
                                              corporate luxury brands. So I have a            variety of programmes our Zurich
                                              keen understanding of what corporate            Campus is offering – and of course our
                                              executives demand from business                 MBA programme in Shanghai.
                                              education (both at the corporate and
                                              individual level).                              Here in Zurich we are a multinational
                                                                                              team and everyone has great skills which
                                              My most important task each day                 makes us as a very strong team. And we
                                              is to meet the needs of our various             can count on each other; that is a great
                                              stakeholders. I’m constantly aware              gift. I’ve also been working very closely
    Katharina Kirchhoff,                      that we’re branding ourselves and our           with my Shanghai-based colleagues
    Head of Sales and                         Campus in Zurich at every touch point           from the MBA department. I had the
    Marketing                                 and with every activity we do – internally      opportunity to travel with a few of them
                                              as well as externally.                          to Germany and within Switzerland. I
“I joined CEIBS Zurich Campus in 2016                                                         had the chance to see and experience the
as Head of Sales and Marketing, a role        There are many global EMBA                      CEIBS spirit during fairs, company visits,
that’s constantly evolving. That’s what       programmes being offered on the                 coffee chats and one-to-one talks. I’m
I like most about my job with CEIBS           market. We must be able to differentiate        looking forward to making even more
Zurich: being part of its growth and          our programme from the others, and              wonderful memories with CEIBS.”
development, seeing all the changes           this requires the ability to tell truly great
taking place, establishing procedures and     stories about every aspect of the CEIBS               Philipp Boksberger, CEO/
structures within my team, and finding        experience.                                           President
new ways to meet our goals.                                                                         Yvonne Bello, Head of
                                                                                                    Operations
                                              I would love to see us do a branding
                                                                                                    Kirsty Warwick, GEMBA
With customers, I prefer to explain           campaign in Western Europe to increase                Zurich Programme Director
my role as Head of Client Relations,          awareness of CEIBS outside of China.                  Li Ding-Serra, CEIBS
Sales & Marketing. We’re offering top         That would be fantastic as it would help              European Study Tour Director
programmes and we have one of the best        us strike the right balance between a ‘push’          Lili Zhao, Programme
Global Executive MBA programmes on            and ‘pull’ sales strategy. I truly believe            Director
                                                                                                    Carol Fuzzard, Corporate
the market. We provide programmes             that CEIBS is special and the best way
                                                                                                    Programmes Director
that can alter the course of an executive’s   to communicate this to potential clients              Katharina Kirchhoff, Head of
life or career; this is so much more than     is on an emotional level. It’s about how              Sales and Marketing
just ‘selling’ a product. From their very     we tell our story, and the quality of our             Andreas Rogalas, Senior
first contact with us, our customers          programmes.                                           Client Relations Manager
should experience the luxuriousness of                                                              Lazar Tosic, Client Relations
                                                                                                    Manager
our products, and there should always         I regularly join at least one networking
                                                                                                    Patricia Bähr, Senior
be an atmosphere that makes them feel         event off campus per week in order                    Event Manager and Alumni
at home. In addition to completing            to get in contact with companies,                     Relations

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                 CAM
            RA

                    PU
      ACC

                       S
              阿克拉

                                            From left: Alumni and Corporate Relations Manager Samuel Ocloo-Dzaba, with
                                            Marketing Executives Abena Korantemaa Botchway and Elikplim Quaicoe, welcoming
                                            CEIBS Teddy to Accra.

                               The Accra Team
                                Don’t be fooled by the comparatively modest size of the CEIBS Accra Campus. There’s a
                               lot going on at this base for the school’s operations in Africa. This year participants from
                              across the continent who have enrolled in the CEIBS Global EMBA programme are learning
                             alongside peers from – and in – Europe and Asia. One hundred and 求fifty-eight women
                            with a strong interest in running their own business have already completed the Women
                           Entrepreneurship and Leadership for Africa (WELA) programme and more will benefit
                          from courses being offered in Accra, Lagos and Johannesburg this November. Last year CEIBS
                         Accra Campus offered four fully-funded Executive Education Open Programmes as part of
                        its corporate social responsibility initiatives in the region and 210 leaders from the private and
                       public sectors have been trained so far this year through various executive education courses.

                     CEIBS’ foray into Africa dates back to 2008 and some of the existing staff have been with the school
                    from the very beginning. Others have since joined the 13-member team being led by Executive
                   Director Mathew Tsamenyi, who is also Professor of Management Practice in Accounting. In this
                  issue we introduce you to Celestine and Kenneth who have been with CEIBS in Africa from the very
                 beginning, along with Samuel and Thelma who joined the team within the last two years.

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                                            for the Accra Campus.

                                            Unlike my former role, which mostly had
                                            me sitting at my desk, I now spend most
                                            of my time outside the office meeting
                                            new people and sharing the CEIBS story.

                                            I’m determined to engage our alumni
                                            even more and ensure that their
                                            interactions w ith CEIBS prov ide
                                            them with such great added value
                                            that they naturally want to become
    Samuel Ocloo-Dzaba,                     active members of the CEIBS family.              Thelma Opara, Head
    Alumni and Corporate                    I’m convinced that if our alumni feel            Business Development,
    Relations Manager                       valued and appreciated, they will not            Sales & Marketing,
                                            hesitate to provide the leads, referrals         Africa; Country
“I initially joined CEIBS as an             and even resources that the school               Manager, Nigeria
Admissions Coordinator for the CEIBS        needs for future growth.
Africa Global EMBA and Executive                                                       “ I n my f o r m e r ro l e a s C o u n t r y
Education programmes. That meant            I’m excited to be a part of the CEIBS      Manager for Nigeria, I was focused on
manag ing the entire admissions             community. I had my first visit to the     growing the CEIBS brand, recruiting
process from the initial enquir y           Shanghai Campus in April and look          students, organising and running
through to enrolment. I also worked         forward to working even more closely       programmes w ithin that specific
with the marketing team to raise            with the teams in China and Europe.        country. I effectively managed all
awareness of these programmes among         I believe there are ways in which we       CEIBS-related affairs in Nigeria, from
key internal and external interest          can leverage our resources and efforts     running the office to interfacing with
groups by organising on-campus              as we work towards our shared goals.       the alumni chapter.
recruitment events and representing         For example, CEIBS staff around the
CEIBS off-campus. And I supported           globe could support social intervention    In my current position as Head of
the marketing team in the development       projects on the African continent which    Business Development, Sales and
and implementation of marketing and         would generate wide publicity and          Marketing for all of Africa, in addition
student recruitment strategies.             visibility for the school. We could also   to my responsibilities for Nigeria, I am
                                            explore developing an annual event         also responsible for developing new
Now, as the Alumni and Corporate            which would bring Chinese business         businesses across Africa and recruiting
Re l a t i o n s Ma n a g e r, I ’m t h e   executives and investors to Africa         students from across the continent.
intermediary between our alumni             where they could interact with CEIBS
and the scho ol. I build genuine            alumni and other local businesses. This    My strong knowledge and
relationships with corporate clients        could potentially create opportunities     understanding of the Nigerian
and I’m also largely responsible for all    for the development of home grown          market, in particular, and the African
marketing and communications efforts        businesses in Africa.”                     market in general, their cultures

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 44

and the psychology of their people           and approach to work; so too would           “I was originally hired as Assistant
have given me a great advantage in           opportunities for ‘shadowing’ peers on       Librarian and Class Coordinator but in
doing my job. More importantly, six          the job. And of course more financial        my current role – though I still do a bit
years of experience working in the           support for brand promotion activities       of work managing the Accra Campus
foremost business school in Nigeria,         would make things so much easier.            Library – my responsibilities have
LBS, at different executive levels in                                                     increasingly been related to ensuring
both the Alumni department and               Despite the challenges I enjoy working       that courses and academic programmes
the Sales and Marketing department           at CEIBS. So far my best memory of my        are successfully delivered in line with
gave me adequate exposure and in-            time with the school is the graduation       CEIBS’ high standards.
depth knowledge of the management            ceremony which took place in Accra
education sector in Nigeria – and Africa     in January 2017. That was when the           As Senior Class Coordinator I work on
as a whole. In addition, my ability to       very first set of Nigerian WELA ladies       class management and coordination of
learn and make decisions quickly has         I recruited (38 women of substance,          every programme organised by CEIBS
also been a great resource in effectively    the highest number ever recorded in          in Africa. Meanwhile, as Academic
carrying out my duties.                      the school's history) and the first set of   Administrator I manage students’
                                             EMBAs I recruited graduated. Watching        records and the blackboard learning
CEIBS still has a long way to go to          each of them mount the podium to             platfor m and libr ar y op er ations
build a strong brand in Africa. If           receive his/her certificate filled my        o f C E I B S Ac c r a C a m p u s . I a l s o
resources were not an issue, I would         heart with a sense of accomplishment         help prepare accurate data on our
make fre quent business t r ips to           and joy. I couldn't help recalling their     programmes and academics, which is
more African countries, participate          individual journeys and marvelling           used for accreditation purposes etc.,
in business events across the region,        at the transformations that had taken        as well as prepare academic certificates
which would g ive CEIBS g reater             place during the programmes.”                and transcripts as needed.
visibility as well as strengthen its brand
recognition in Africa. I would also                                                       I have the distinction of being the only
organise more experiential marketing                                                      member of the CEIBS Accra Campus
events like the AVIC programme, to                                                        team who has played a key role in the
attract clientele who are more suited to                                                  administrative side of the EMBA and
CEIBS’ target market. My job would                                                        Executive Education programmes
be less challenging if there was a better                                                 offered since CEIBS’ inception in
understanding of the peculiarities of                                                     Africa. Over the years I have been
the African continent, particularly                                                       fortunate enough to gain a wealth of
its diversity, and adjustments were                                                       experience which helps me work with
made – especially to the Global EMBA                                                      people from different backgrounds
admission process – to accommodate                                                        (culture, mind-set, work experience).
these unique features. I also think
that deeper integration of activities              Kenneth Assan, Senior                  My best memory of CEIBS so far is
across CEIBS’ various locations would              Class Coordinator and                  advice I got from Professor Kwaku
go a long way towards us having a                  Academic Administrator                 Atuahene-Gima in May 2009. It was the
more holistic and integrated view                                                         second day of the first CEIBS EMBA

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                                                                                                                                    45

module in Accra. He said, ‘Ken I know        role and I’m also accountable for the                  hard work. You are an asset to CEIBS.’
you work hard but if you want to work        outcome of these decisions. I promote                  Today, those words of encouragement
with CEIBS then you better be smart!’        the unique CEIBS brand through the                     are still my source of strength and
His words have had a profound impact         delivery of the GEMBA, WELA and                        my motivation to give my very best
on my career at CEIBS.”                      Executive Education programmes                         to CEIBS from the school’s Accra
                                             along with events such as seminars,                    Campus!”
                                             graduations and study trips abroad.

                                             I’m the only CEIBS Accra Campus
                                                                                                      Accra Campus Staff
                                             employee who has worked in almost
                                                                                                         Mathew Tsamenyi – Executive
                                             all the depar t ments (Mar keting ,
                                                                                                         Director
                                             A d m i s s i o n s , Ac a d e m i c A f f a i r s ,
                                                                                                         Samuel Ocloo-Dzaba –
                                             C o r p o r a t e S e r v i ce s , Eve n t s a n d          Alumni and Corporate
                                             Programmes) in Africa. I’ve learned                         Relations Manager
                                             a lot but I think I still have a lot to                     Thelma Opara – Country
                                                                                                         Manager, Nigeria; Head
                                             learn about what goes on at our other
                                                                                                         Business Development, Sales
                                             campuses. I think it’s important to                         & Marketing, Africa
                                             integrate with our colleagues from                          Celestine Kumahor –
      Celestine Kumahor,                     China and Switzerland, to learn from                        Programmes Delivery and
                                                                                                         Events Manager
      Programmes Delivery                    them on the job and to get a better
                                                                                                         Mavis Akrofi – Finance and
      and Events Manager                     understanding of our various cultures.
                                                                                                         Administration Manager
                                                                                                         Chigozirim Chukuemeka –
“I was originally hired as a Marketing       I’ve had a long journey with CEIBS,                         Marketing and Administrative
Executive in 2008 but have been              and there have b e en some g reat                           Executive, Nigeria
subsequently promoted to various             experiences along the way. But my                           Kenneth Assan – Senior Class
                                                                                                         Coordinator and Academic
positions. Now as the Programmes             best memories are from the first two
                                                                                                         Administrator
D e l ive r y & Eve n t s Ma n a g e r, my   years (2008 to 2010). There were only                       Winfred Nyarko – Finance
primar y role is to liaise with the          five of us, and I was the only person                       Officer
Executive Director in the planning and       doing marketing – though I didn’t                           Fafali Opoku – Class
successful execution of all programmes       have a marketing background. We had                         Coordinator
to meet international standards.             very limited resources but our passion                      Benjamin Diabah – Research
                                                                                                         Associate
I’m responsible for all CEIBS Accra          helped us meet our target of recruiting
                                                                                                         Abena Korantema Botchway
programmes delivered both locally and        42 students for the first EMBA class in                     – Marketing Executive
internationally.                             Accra. I will never forget what my then                     Elikplim Quaicoe – Marketing
                                             boss, Prof Kwaku Atuahene Gima, said                        Executive
The difference between this and the          to me. He said, ‘Employing you is the                       Lawrencia Ofori – Human
                                                                                                         Resource and Administrative
other responsibilities I’ve had over the     best thing to have happened to CEIBS
                                                                                                         Assistant
years at CEIBS is that now I manage a        Africa.’ Then three months later CEIBS                      Diana Nani – Programmes
team of four, I’m allowed to make 60%        President Prof Pedro Nueno said to me,                      Coordinator
to 85% of all decisions regarding my         ‘Thank you for your dedication and

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              CEIBS Alumni Nigeria
              Chapter Grows
             The CEIBS Alumni Nigeria Chapter
            added 58 new members at a ceremony
            held on March 18 at the Ovation Hall in
           Lagos’ Victoria Islands neighbourhood.
          A delegation from the CEIBS Alumni
          Chapter Ghana and a representative

                                                             of CEIBS Africa alumni in French-speaking countries were
                                                             among the more than 100 business executives who attended
                                                            the event. Executive Director of CEIBS Accra Campus Professor
                                                            Mathew Tsamenyi also attended.

                                                            In his welcome address, Adebayo Sunday Agboola, Acting
                                                            President of the CEIBS Nigeria Alumni Chapter and Group Head,
                                                           Private Sector, eTranzact International PLC said he was optimistic
                                                          that the chapter has a special role to play in not just boosting
                                                         the CEIBS brand but also in transforming Nigeria’s economy. He
                                                        urged members to actively participate in the organisation as a way
                                                        of expanding the group’s influence in key discussions affecting the
                                                       country’s development, and driving Asia-Africa relations. With its
                                                      newest batch of inductees, the Alumni Association’s Nigeria Chapter
                                                      now has 171 members.

                                                    The event was also an opportunity to honour the late President of the
                                                   Chapter, Adewale Talabi, who passed away last September. CEIBS Alumni
                                                   Ghana and Nigeria Chapters, including five of his EMBA 2009 Nigeria
                                                  classmates donated NGN3 million to his widow, Adebimpe Talabi.

theLINK Volume 2, 2017
Iconic view from
                                                             Mr & Mrs Bund

   Can you still afford to ignore Asia?

Observing from afar, is nothing like living it up close.
 Business has moved East, and so should your MBA.

      Come experience an FT Top-20 MBA
         in the world’s most dynamic city.

 www.ceibs.edu/mba                    For more info write jsteven@ceibs.edu
Feature

  48

Prof Chen Shimin’s

                                  CEIBS MBA Journey
    By Lei Na

D
               espite his many years working as CEIBS MBA           year, another one of his papers was accepted for publication
               Programme Director, Prof Chen Shimin sticks          by a highly-regarded Australian journal. And he co-authored
               to his scholarly habits. His office door is always   a paper, published by the American Accounting Association,
               closed, though he has assured his colleagues that    which won the 2017 Journal of Management Accounting
they may knock and come in whenever the light is on. Prof           Research (JMAR) Best Paper Award.
Chen believes in the importance of democracy and efficiency in           Like most scholars, Prof Chen’s office is packed with
running the MBA Department; so he listens to all suggestions        material from the world of academia. Stacks of books and
before making decisions and regularly communicates with             documents cover his desk, allowing him to readily switch
students to better understand them and their needs. Although        between administrative and research work. There are a
administrative work takes up a lot of his energy, Prof Chen is      few paintings on the wall. One was a gift from an EMBA
still unwaveringly dedicated to teaching and research. Last year,   participant, and another – a landscape of horses on the prairie
he published a paper in one of the 50 journals used by Financial    – was a gift from a colleague. The paintings add colour to the
Times to compile business school research rankings. This            room and reflect Prof Chen’s easy-going and warm personality.

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                                                                                                                                    49

     He has been a university professor      in 2001 when he met Prof Ding Yuan –         community. “It seemed a little risky at
for most of his life, and he has obviously   who was then working in France – at an       the time,” he said with a smile, “but I love
enjoyed this academic journey over           academic conference. At the time Prof        challenges.” That may be because he is no
the years. In 1978, he began studying        Chen was teaching in both Hong Kong          stranger to overcoming hurdles.
accounting at the Shanghai University        and America. In 2004, Prof Ding began             B o r n i n S h a n g h a i , Pro f e s s o r
of Finance and Economics and stayed          working at CEIBS and, while he was on        Chen worked as a farmer in Fengxian
on to teach after obtaining his master’s     a business trip to Hong Kong, the two        District in his youth. He was among
degree. Eight years later, he left China     professors ran into each other again. Prof   the second batch of students to attend
to get his doctorate at the University of    Ding invited Prof Chen to join CEIBS.        university following China’s restoration
Georgia in the US. Then he taught at         “Ding Yuan was not Dean at the time,         of college entrance examinations after
Clarion University of Pennsylvania and       but he played an active role in recruiting   the Cultural Revolution. After years of
the University of Louisiana at Lafayette,    professors for the school,” explains         moving between the East and West, he
obtaining tenured professorships at both     Prof Chen. While visiting his family in      returned to his hometown to join the
universities. Prof Chen taught in Hong       Shanghai, Professor Chen visited CEIBS       CEIBS faculty, where he has taught for
Kong for eight years, on and off, and in     to see if the school was somewhere he        an unforgettable nine years. He has seen
2008 he gave up a tenured professorship      could work. He enjoyed stimulating           many positive changes in the prosperous
at the Hong Kong Polytechnic University      conversations with other professors and      city, and in the school, which leave him
to join CEIBS.                               was charmed by the school’s atmosphere.      hopeful and confident about the future.
     Prof Chen’s path to CEIBS began         He decided to join the CEIBS                      Earlier this year, the Financial Times’

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2017 ranking of global business schools was released, and         2016 recruitment season. Within three months of graduation,
CEIBS’ MBA programme was ranked #11 globally and #1 in            93.4% of the MBA2016 graduates reported having received
Asia. This achievement is hardly surprising because over the      at least one job offer and 92.7% accepted. Almost 81% of
last 13 years the CEIBS MBA Programme has consistently            graduates successfully changed their career paths after their
been ranked within the Financial Times’ Top 25 global business    MBA. Graduates have also seen a noticeable uptick in their
schools, in line with other world-class institutions. As he has   salaries with almost 70% earning RMB300,000 – RMB600,000
done in previous years, Prof Chen sent out an email thanking      per year, a 92% increase, on average, over what they earned
the CEIBS faculty and relevant departments.                                               before their CEIBS MBA. In fact, the
He believes that this achievement is the                                                  percentage salary increase of CEIBS
result of the coordinated efforts of the                                                  MBA graduates was ranked 4th globally
entire school, and is indicative of the overall                                           in 2016, and their weighted salary was
accomplishments of the CEIBS MBA                                                          ranked 14th.
Programme.                                             We must                                 A full-time English-language-
     Prof Chen beams with pride whenever                                                  taught international programme,
he talks about the Programme that he has               support them in                    CEIBS MBA is on par with those
led for five years: “It’s a flagship programme         achieving their                    offered by other world-class business
at CEIBS. It represents CEIBS’ academic                                                   schools. Prof Chen attributes this to
and teaching standards globally. We are very
                                                       career goals.                      CEIBS’ world-class faculty which has
lucky; the school doesn’t financially rely on                                             ensured the quality of the programme.
the programme at all,” he explains. “Instead,                                             “Global Breadth” is a vital aspect of the
it provides abundant resources to support                                                 curriculum; for instance, every MBA
its development. CEIBS’ vision is to build                                                student must take part in international
a world-class business school, and in order                                               exchange programmes or overseas
to achieve this goal we must build a first-                                               elective modules. They may also choose
rate full-time MBA Programme. Our entire team is working          to take dual degree programmes with Cornell, Johns Hopkins
towards this goal.”                                               and Tufts universities in the US.
     He added, “Each MBA student has his own career goals.             “China Depth” is the other core element of the
They are all here because they have encountered development       programme. CEIBS MBA classes are already using a large
bottlenecks or because they hope to change their career path      number of cases from the Chinese market, professors teach
or start a business. We must support them in achieving their      management ideas based on Chinese practices, and most of
career goals.” Thanks to China’s economic development and         the students’ internship and consulting projects are China-
the MBA Departments’ career development team – which              based. The school has started a mandatory course, “China
Prof Chen lauds as “#1 in Asia” – CEIBS’ MBA Programme            within the World”, to help students understand the country’s
offers numerous career opportunities for both Chinese and         role and responsibilities in the fields of global politics,
international students. According to the CEIBS MBA2016            economics, society, and culture. Chinese language courses
Career Report, the school’s Career Development Centre (CDC)       are also offered to international students to help improve
was instrumental in making students aware of more than            their competitiveness in the Chinese market. In recent years,
800 positions available at 319 companies during the 2015 to       many international students have chosen to stay in China

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                                                                                                       51

MBA Department's Major Achievements
during Prof Chen Shimin's Tenure:
•   Consolidated CEIBS MBA Programme’s leading position in reputable
    global rankings. The programme has been ranked within the Top 25 global
    business schools in the Financial Times' annual survey for 13 consecutive
    years; was ranked first in Asia by Financial Times, Bloomberg Businessweek
    and Forbes in 2015 and regained the first place in Asia in the 2017 Financial
    Times rankings.
•   Added entrepreneurship courses to the programme in 2013, set up eLab in
    2015 and strengthened CEIBS’ focus on entrepreneurship.
•   Helped streamline the requirements for all MBA students to attend
    international exchange programmes or overseas elective modules, signed
    dual degree programme agreements with Cornell University, which
    strengthened the CEIBS MBA programme’s international dimension.
    Further enhanced the MBA programme’s international dimension through
    mandatory international experience for all students and signing the dual
    degree agreement with Cornell.
                                                                                    CEIBS is indeed
•   Launched a leadership module to help students further develop leadership        an excellent
    skills.
•   Offered the “One-Year Option” in 2014, which made the programme more
                                                                                    platform.
    flexible for students who return to their previous employers or the family
    business.
•   Launched the Dishuiquan loan project in 2016, which provides low-interest
    loans to Chinese and international students.
•   Launched the MBA Bootcamp in 2014, providing opportunities for
    potential candidates to understand CEIBS at a deeper level.
•   Initiated mutual-benefit cooperation in placement services with world-
    famous business schools including HBS, LBS, INSEAD, IESE and IE
    Business School.
•   Helped students host extra-curricular activities including the renowned
    TEDXCEIBS and VCIC East Asia Regional Finals.
•   Promoted communication between MBA and EMBA alumni via annual
    alumni activities, Mentoring Programme, recruitment, and internship
    activities.

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                         to work with Chinese companies – an impressive
                         result of globalisation. “Internationally, we are the
                         business school with the best knowledge of China;
                         and in China, we are the most international
                         business school,” Prof Chen emphasises.

                                 Birth of CEIBS eLab
                              During an academic visit to Israel four years
                         ago, Prof Chen was impressed by a local incubator
                         there and came up with an idea to build one at
                         CEIBS. After returning to China, he shared his
                         idea with school leaders and gained their support.
                         In April 2015, the CEIBS MBA Entrepreneurship
                         Lab (eLab) was launched at CEIBS Shanghai
                         Campus. Prof Chen has great expectations of the
                         eLab, which is now overseen by Professor Vincent
                         Chang. The eLab’s mandate is to create an
                         environment in which entrepreneurs can flourish
                         by accessing the knowledge and resources needed
                         to navigate and succeed in the real world.
                              The IDEA Challenge Programme, a CEIBS
                         eLab initiative, was launched in November
                         2015 under the guidance of Prof Chang. IDEA
                         represents four stages of a start-up project: Idea,
                         Design, Evaluation and Acceleration. To date,
                         the programme includes 40 start-up teams and
                         is strongly supported by venture capital funds
                         including the alumni company ChairMan Capital
                         and the alumni-initiated Prosperity Fund.
                              The eLab began in a small corner of the second
                         floor of the CEIBS Canteen. To Prof Chen’s delight,
                         after two years of development it has now grown
                         into a distinctive entrepreneurial platform on the
                         Shanghai Campus. It has received strong support
                         from large swathes of the CEIBS community, for
                         example alumni company Mohen Chao Design

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                                                                                                                               53

                                             entrepreneurial and innovative gene is        Prof Chen calls himself “a lucky man”.
                                             bearing new fruit through the eLab.           His wishes have been and continue to
                                                                                           be fulfilled with the passing of time. He
                                                                                           has a successful career, a happy family,
                                                  A New Challenge
   Don’t think about                                                                       and his two children are doing well in
                                                   Over the past 5 years, Prof Chen has    their studies. However, behind the so-
   the reward when                           been involved in pushing forward the          called “luck” is his hard work from 8 in
   you are making a                          development of the MBA Department.            the morning to 6 every evening – and
                                             It is no exaggeration to say that he is       his insightfulness. “I often tell younger
   contribution.
                                             one of the best practitioners of CEIBS’       colleagues that they should do their best
                                             motto “Consciousness, Innovation and          to take ownership of whatever they do.
                                             Excellence”. July 2017 marks the end          In retrospect, this is the approach I take
                                             of Prof Chen’s term in his current role       when dealing with most issues. Don’t
Associates sponsored its interior design,    with the MBA Department; he will soon         think about the reward when you are
a signature style that has become            face a new challenge – filling the role of    making a contribution. When the time
synonymous with the eLab’s much              Director of the CEIBS Case Centre. Back       is right, your hard work will pay off,” he
larger, ultra-modern new location near       in July 2013, the Shanghai Municipal          says.
the MBA dorms. The incubator has also        Government, after careful consideration,           He adds, “CEIBS is indeed an
given back to the business community.        selected CEIBS to build the “Shanghai         excellent platform. All the g reat
It has provided specialised courses and      MBA Case Development and Sharing              achievements made either by me or
Entrepreneurship Bootcamps to more           Platform” which focuses on management         my colleagues are closely related to the
than 50 companies so far. With Prof          in the Chinese context and aims to help       platform. Without CEIBS, as individuals,
Chang at the helm MBA students who           business schools across the world gain in-    we would not have been able to achieve
get into the incubator and/or volunteer to   depth knowledge of China’s economic           so much.” Looking back on his time with
be part of its service team are among the    environment. Following three years of         the CEIBS MBA, Prof Chen is full of
main drivers behind the eLab’s day to day    hard work, the platform has begun to          gratitude, “I have to say special thanks
operations. In 2016, the eLab welcomed       take shape. “In the past few years, thanks    to Yvonne Li, Ma Ning and the entire
its new hosts – the MBA2018 freshmen         to efforts made by Professor Liang Neng       MBA team. Working with them over the
batch, a quarter of whom have experience     and Research Fellow Dr Raymond Xu, the        last five years has been a very enjoyable
in starting new companies. At night, the     Case Centre has done a lot of work and        experience. Although we may not have
CEIBS campus is quiet and peaceful,          has provided its successors with a solid      reached a consensus on every issue, we
but the eLab is abuzz with the sounds        foundation,” says Professor Chen. “The        have generally been a very harmonious
of budding entrepreneurs gathered            CEIBS Case Centre has a vision, which is      team and have accomplished a lot
for brainstorming sessions. Twenty-          that when Chinese cases are mentioned         together. I hope CEIBS will continue to
two years ago CEIBS, now a world-            in an international context, listeners will   excel and that the MBA programme will
renowned business school, grew out of an     first think of CEIBS.”                        scale new heights.”
entrepreneurial vision and today CEIBS’            Looking back on his career path,

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Feature

 54

Wang Cong: Applying
Research to our Everyday Lives

                                      A
    By Janine Coughlin                             cademic researchers have a lot in common with entrepreneurs –
                                                   both are looking to solve problems which affect our daily lives.
                                                   For Professor of Finance Wang Cong, the challenges of corporate
                                                   governance and mergers and acquisitions provide plenty of
                                      inspiration.
                                           “There are many mergers and acquisitions announced in the media and
                                      these do impact the lives of ordinary people. If you work for the company being
                                      acquired in the transaction, you care about whether it will lead to employee lay-
                                      offs because that will impact your job security,” he says, when asked to elaborate
                                      on his research interests. “Also, if you hold shares in the acquiring company, you
                                      will care whether this company can make acquisitions that increase its value so

Fast Facts:
Research & Teaching Interests:
Corporate Finance, Corporate
Governance, Mergers &
Acquisitions, Executive
Compensation, Capital Raising
and Financing Strategies

Tip for Work/Life Balance: “I
learned tai chi when I was an
undergraduate student at Peking       that the stock price of your shares will increase, creating value for you. These sorts
University. Since then I have         of issues are quite interesting and important topics to research.”
been practicing it 15 minutes              The research support that CEIBS provides to faculty was part of what attracted
per day. It is very helpful to calm   him to leave a tenured position at Chinese University of Hong Kong (CUHK),
your mind and improve your            where he was Associate Professor of Finance and an Outstanding Fellow of the
health.”                              Faculty of Business Administration. He moved to Shanghai in September 2016 to
                                      join CEIBS but his first visit to the school was in 2015, to participate in a Finance
                                      Symposium. “I spoke with Dean Ding Yuan and many other Finance Department

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                                                                                                                         55

colleagues,” he recalls. “I really liked them, and I also liked   University, and then it was on to the US for a PhD in
the environment here, so I decided to join.” His wife and         Finance at Vanderbilt University. However after five years
son enjoy living in China’s bustling economic capital and         in Tennessee, his wife wanted a more lively, urban lifestyle,
it’s just a short trip back home for Professor Wang to visit      so he took the faculty position at CUHK. They spent nine
his parents.                                                      years there before Professor Wang made the move to CEIBS,
      He grew up in Shandong Province, and did his                joining distinguished faculty such as his academic idol,
undergraduate degree at Peking University’s Guanghua              Baosteel Chair Professor of Economics Wu Jinglian. “When
School of Management. He moved to Singapore to do a               I was still an undergraduate I read his books on China’s
Master’s Degree in Economics at Nanyang Technological             economic reform. I feel quite honoured being a colleague of
                                                                  Professor Wu,” he says.
                                                                      Professor Wang is well on his way to building his own
                                                                  impressive body of high impact research. While at CUHK
                                                                  he received that institution’s 2010 Young Researcher Award,
                                                                  and a paper he wrote won the 2015 Emerald Citations of

                                                                        Mergers and acquisitions
                                                                        announced in the media do
                                                                        impact the lives of ordinary
                                                                        people.

                                                                  Excellence Award. Two of his papers are among the top 10
                                                                  most-cited articles published by the Journal of Finance in
                                                                  2007 and 2009 respectively; the publication is among the 50
                                                                  journals that the Financial Times uses when compiling its
                                                                  research rank for business schools.
                                                                      Another FT50 journal, the Review of Financial Studies,
                                                                  recently published a paper Prof Wang co-authored that
                                                                  explores a timely issue – the implications of the strategies

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 56

that multinational companies use to shelter their foreign         is large acquisitions,” he explains. “We have seen cases like
earnings from taxes.                                              Microsoft paying more than US$8 billion for Skype, which
     “Multinational corporations in the US hold trillions of      is based in Luxembourg, a tax haven country in Europe.
dollars of cash in foreign countries. This is because for their   Microsoft also paid more than US$7 billion to acquire
foreign earnings, they only need to pay taxes to the foreign      Nokia, another European company. Three years later
government at the foreign tax rate,” Professor Wang says,         Microsoft had to sell Nokia for only US$350 million, so
explaining his research. “If they want to repatriate this cash    essentially over three years it lost over US$7 billion. This is
back to the US then they have to pay the US government at         an example of the so-called over-investment problem.”
the US corporate tax rate, which is normally much higher.”             The significance of corporate tax strategy has also
     While this strategy may save a company on taxes,             been making the news in recent times. First, the European
Professor Wang’s research shows this comes at a cost. “In my      Union ordered Apple to pay US$14 billion in back taxes
paper we found that shareholders place a huge discount on         plus interest on earnings it had been stashing in Ireland,
the foreign cash companies hold on their balance sheets,” he      and it accused the Irish government of providing illegal
says.                                                             state aid to the iPhone maker by allowing it to shelter its
     There are several reasons for this, the first being the      money from tax collectors there. Both Apple and the Irish
tax bill that will be due down the road if the money is           government are disputing the ruling. Then, in the wake
eventually repatriated. The second is that cash parked            of the Brexit vote, German Chancellor Angela Merkel said
abroad won’t be used for domestic investment, which means         that the EU will need to relook at its corporate tax policies.
the company may have to rely on external capital markets to       In addition US President Trump made promises on the
raise these monies, and will incur financing costs. Third, it     campaign trail about changing US tax regulations to
may lead to inefficient foreign over-investment.                  encourage multinationals to move their foreign earnings
     “One channel that these MNCs spend their cash on             back to the US.

theLINK Volume 2, 2017
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