Innovative MSc programs are set to meet industry demands and prepare students for future leadership roles.
In a world where the business and technology landscape is in constant flux, HKUST is stepping up with bold new initiatives that include two timely Master of Science (MSc) programs.
This academic year will see the introduction of the MSc in Family Office and Family Business, as well as the MSc in Information and Cyber Security Management. Each is designed to address increasing demand in these critical areas. The new programs will meet the pressing need for expertise in addressing these topical domains and see HKUST lead the way in developing the next generation of senior industry executives.
Tackling the cybersecurity challenge
In recent years, cyber crimes have surged in Hong Kong, in terms of both the number of cases and the financial losses incurred. This underscores the urgent need for organizations to enhance their cybersecurity strategies and resilience. With that in mind, Hong Kong is already preparing legislation aimed at enhancing the protection of computer systems within critical infrastructure.
“These developments will increase the demand for talents in the information and network security fields,” said Professor HUI Kai-Lung, Acting Dean of the HKUST Business School.
“Our aim is to nurture a new generation of information security professionals who can effectively safeguard the critical and valuable assets of organizations against cyberattacks.”
As one of the pioneering cybersecurity programs offered by a business school in Asia, MSc in Information and Cyber Security Management equips students with requisite technical skills plus essential managerial skills in communications, leadership and stakeholder engagement. According to Professor Hui, this approach is vital because most current Internet fraud cases rely on criminal psychology more than technological vulnerabilities.
“The traditional engineering-centric teaching approach focuses on hard knowledge related to network technology,” he said. “Our new curriculum emphasizes a managerial perspective to train talents capable of network security management and supervision.”
The MSc program is open to fresh graduates and working professionals looking to upgrade their cybersecurity skills, ensuring that a broad range of individuals can benefit.
Professor Hui Kai-Lung, Acting Dean of HKUST Business School (right) and MSc Program Director Chris Tsang
Pioneering education in family business and family offices
By introducing the first MSc in Family Office and Family Business of its kind in Asia, HKUST is once again a pioneer. The move also ties in neatly with Hong Kong’s aspiration in becoming a leading global family office hub, reflecting broader economic and wealth management trends within the region.
“Many well-known, large-scale enterprises in Hong Kong were founded by local families,” Professor Hui said.
“Besides managing private wealth, a family office can play a crucial role in preserving family harmony, family values and legacy.” Our MSc program provides generalist training. At the same time, it also aims to develop an international outlook and a broad understanding of different investment options and industries in view of varying family value and legacy.
It is widely recognized that as decisions about a family’s wealth are transferred from one generation to the next, the discussions, relationships, and needs become more complex.
“Successful succession depends on the ‘three preservations’: preservation of family wealth, family harmony, and family value and legacy, besides continuity of the family business,” Professor Hui said. This involves understanding the importance of business management, family governance, wealth management, family philanthropy, impact investing and the education of younger family members who will be expected to take on greater responsibilities in due course.
To this end, the curriculum is interdisciplinary in nature. It covers both financial and non-financial topics and is taught by experts from different disciplines.
“We have received support from many family business and family office leaders and stakeholders. We look forward to having them share their business and management insights with students,” Professor Hui said.
The graduates will be equipped with up-to-date knowledge and practical skills, giving them a competitive edge when it comes to helping their own family businesses and family offices, and finding positions working for family businesses and family offices.
“They will be prepared for such roles as family business and family office managers, financial advisors, wealth planners, and business consultants,” Professor Hui said.
“HKUST boasts a premier research and teaching center dedicated to Asian family businesses and family offices—the Roger King Center for Asian Family Business and Family Office. With our strengths in family business and family office- related research, as well as support garnered from family business and family office leaders, we are well-positioned to offer this innovative program,” he added.
New Hub for Enhanced Learning
To support these exciting new programs and accommodate ever-expanding student numbers, HKUST has also opened a new MSc Learning Hub in Kowloon East. The 20,000 square foot state-of-the-art facility will serve as an extension of the Clearwater Bay campus, enhancing the all-round educational experience.
According to MSc Program Director of the HKUST Business School, Chris TSANG, the space is designed to foster a dynamic and collaborative environment that encourages interaction and innovation. Key features include flexible classrooms that can be reconfigured to host classes, events and seminars for more than 300 participants. There are also areas for seminars, and a lounge with stepped seating, mirroring HKUST’s main campus.
“With the addition of the new programs, the total number of our MSc programs has increased to 12, reflecting our commitment to providing diverse and relevant educational opportunities,” Tsang said.
