HKUST Business Review

13 HKUST Business Review Cover Your planning must be flexible, so you can adapt to each new situation. When HKUST was founded in 1991, it was a bold experiment in redefining higher education. Located in a quiet corner of Clear Water Bay and established in a city better known for commerce than classrooms, its success was far from certain. “I’m amazed by what has been achieved,” said Dr. Vincent Lo, who served as Council Chair from 1999. “With all the changes over these past three and something decades, there were lots of challenges, and at the same time, lots of opportunities.” From an idea conceived in the late 1980s to becoming one of the top universities in Asia, HKUST’s ascent is a story built on strategic foresight, disciplined leadership, and the relentless pursuit of excellence. Defining Purpose and Direction The hallmark of the early years was a determination to act with focus. “We needed a mission statement for the University,” Dr. Lo said. “We had limited resources, so we made sure to channel what we had into the right areas.” There was a clear direction and academic freedom was prized, but Dr. Lo believed focus and accountability were equally vital for growth. “I had a lot of resistance from professors who said academic study is all about freedom and that no one should dictate what they had to do. But I insisted,” he recalls. His persistence paid off. The University’s structured approach —anchored in transparency, efficiency, and a shared mission — became a defining feature of its governance and a cornerstone of its success. Building an Institution for a Changing Economy As Hong Kong’s transformation at the turn of the century demanded new kinds of talent. HKUST met the challenge by expanding beyond science and technology to include business education — an addition that reshaped the University’s scope and impact. “The business school was so helpful in that sense,” Dr. Lo explains. “Hong Kong was quickly transforming itself from a manufacturing center into a service center, so we also needed to change our ways of doing things.” The decision proved prescient. As evidence, the Kellogg-HKUST Executive MBA program has since become a consistent global leader, ranking first in the world for so many years. In addition, HKUST’s ability to anticipate economic trends and align academic courses accordingly bolstered its reputation and has contributed significantly to Hong Kong’s evolution as a knowledge based economy.