The executive education programs specially tailored by the School of Business and Management of the Hong Kong University of Science and Technology (HKUST Business School) for companies have garnered the top position in the Asia-Pacific in a major international survey released today (19 May 2003) by the Financial Times.
This is the first time the London-based financial newspaper's global executive education rankings have featured a Hong Kong business school.
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The overall rankings include two categories, namely, open programs (standard programs that accept open enrolment) and customized programs (programs made to order according to the educational needs of the sponsoring companies). The HKUST Business School participated in the customized programs category in which 50 schools worldwide were ranked.
The ranking in the customized program category is determined by two surveys. One survey measures the responses from senior members of organizations that specified and purchased customized programs, usually the chief executive or the human resources director. The other evaluates the strength and diversity of the schools.
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The HKUST Business School has been ranked 28th in its debut on the Financial Times' list of the world's best executive education providers. In the customized programs category, four schools are from the Asia-Pacific, with the HKUST Business School leading the pack. The other three schools are the Australian Graduate School of Management (33), Mt Eliza Business School in Australia (45), and the China Europe International Business School (50). The School also ranks ahead of schools based outside of the region, such as the business schools of Warwick (30), UC Berkeley (34), the University of Chicago (37) and the University of Toronto (49).
The faculty diversity of the HKUST Business School is ranked fifth in the world. The customers of the School's customized programs reported a high satisfaction level with the quality of the programs. As a result, the School is placed 19th in the areas of "value for money" and "future use" (defined as the likelihood of the company using the school again) in the survey.
Dean K.C. Chan of the HKUST Business School was delighted with the high rankings of the School's executive education capabilities. "Offering high-end executive education for company clients is challenging for any business school. Such programs demand the best resources that you can offer in terms of faculty, administrative support, facilities and academic and business connections. These programs are also very rewarding because they provide a direct conduit for the transfer of management knowledge from our best faculty to participants who are typically leaders in the business and public sectors.
"In the currently challenging times facing Hong Kong, nothing is more important for companies to stay ahead than equipping their senior staff members with necessary knowledge and skills in a timely manner. The good news is that they need look no further than home for a business school that can provide world-class executive education for their valued employees," he said.
Kitty Chan, Director of Executive Programs and External Development, said: "Our programs target senior executives who are usually very demanding customers. Their companies will shop around the world for the most suitable provider to organize the highest quality programs that meet their needs of executive development. This FT survey has confirmed that we have done well to satisfy our customers. We are pleased to be able to compete with other major business schools on a global basis and be regarded as the best executive education provider in the region.
"Although most of our programs were suspended over the last two months owing to the threat of Sars, we are hopeful that business will pick up again in the second half of the year as there are positive signs that the situation will be brought under control soon."
The Financial Times' survey evaluates programs conducted in year 2002. During that year, HKUST Business School provided non-degree executive education to some 1,000 executives, of which 400 were based in Hong Kong, 400 were from the mainland, 160 from North America and Europe and 40 from other Asian countries. The School organized 25 customized programs for 20 companies and organizations. Among them seven were multinationals headquartered in Europe or US, eight major companies from the Chinese mainland and five companies and non-profit organizations in Hong Kong.