Best of the best

Asked where the best EMBA (executive master of business administration) program in the world is, many might say it's in the United States or United Kingdom.

However, a 2008 global ranking proves Hong Kong is the right answer.

The program, taught by the Hong Kong University of Science and Technology (HKUST) in conjunction with the Kellogg School of Management of Northwestern University in the US, ranks No 1 in the world in this year's Financial Times EMBA global rankings.

This is the first time a China-based program has topped an international rankings chart.

In addition, the program is listed No 1 for work experience of its participants, No 2 in international faculty and No 3 in international students.

"It proves that we made the right decision and positive strategy to set up the cooperation in Hong Kong 10 years ago," says Steven DeKrey, associate dean and founding director of the EMBA program. "And with China's economy still booming at an amazing speed, we see a closer connection with the Chinese mainland and are expecting more voices from Chinese business hubs like Beijing and Shanghai."

"As well as senior decision makers in international corporations, we also expect executive students from State-owned enterprises and startup entrepreneurs from private equity in China, although we are highly selective," he tells China Business Weekly during a recent interview.

DeKrey says that Yuka Yeung, senior vice-president and chief operating officer of China's top hot-pot chain Little Sheep, is one of his program's alumni.

Launched in 1998 as a unique East-West partnership to offer the best management education for international talent based in Asia, the program consists of 28 courses, each covered during two weekends, offered over 16 months. Teaching is shared equally between Kellogg and the HKUST faculty.

During the past decade, the program has benefited 521 executive students from all over the world, mostly Asia-based.

"Hong Kong enjoys a good location in Asia, with good access to the mainland and Southeast Asia, as well as its own healthy and energetic business environment," says DeKrey.

More importantly, "the blend which Western and Eastern influences converge to help our program offer students the best of East-West educational pedagogy with Asian contextual applications".

The knowledge of Western business practices and technology, as well as students' understanding of Asia allows them to provide the best of East and West in business education and research, he says.

"The Asian culture we appreciate the most is that the students are all eager to learn."

The international faculty and students are also a strongpoint for an EMBA program, according to DeKrey.

"People always consider the US as the best destination for MBA or EMBA courses. But in the US, 60 to 70 percent of your classmates are American. It's hard for Chinese students to be involved in the US-dominated environment. However, in our Hong Kong program, there is no such majority," says DeKrey.

There are 60 students with 17 nationalities represented in their current class. Around 18 percent of the students are from the mainland, and 20 percent live and work in Hong Kong, with the rest from outside China.

"It's really international we also have students coming from Europe," says DeKrey.

Last year, the Kellogg-HKUST course welcomed three students from Spain.

"In such international circumstances, students can fully exchange their views on business from every corner of the world and gain more knowledge about the world's economy," DeKrey adds.

"Attending the course in the past six months has sharpened my skills a lot," says Gu Lei, area head of corporate and regulatory affairs, Greater China Area, British American Tobacco.

"I enjoyed the past half-year experience with the Kellogg-HKUST program very much. The faculty is first-class with a well-designed curriculum. It not only brought me the different aspects of the general business management, but also showed me the different successful models of operations in the world by digging into case studies.

"It's truly an international program, that beautifully combines the operations theories and practices of running business in Asia, particularly in China," says Gu, who is based in Beijing.

This year, eight academies on the mainland provided EMBA programs with tuition fees ranging from 248,000 to 408,000 yuan.

As the top EMBA program in the world, tuition fees for the Kellogg-HKUST EMBA program are 719,761 yuan ($103,600). However, it never lacks students.

"Nearly all the world's Top 500 enterprises have set up branches in Hong Kong, and many of them are regional headquarters, so we see a talent pool with huge potential," says DeKrey.

The EMBA program has won a place in the Top 10 in the Financial Times' annual survey since it entered the rankings in 2003.

"Being named No 1 in the world in a major international ranking is a strong affirmation of the quality that exists in Hong Kong in providing advanced education for business leaders," says Paul Chu, HKUST president.

"This will drive us to further enhance our academic excellence while continuing to improve the learning experience of students."

(China Daily 09/08/2008 page7)