Newly appointed EMBA director at the Chinese University of Hong Kong (CUHK), Professor Howard Lam, says, “With the rapid deployment of technology and the outbreak of Covid-19, it is generally expected that the future will be very different. Our programme has responded promptly to these [concerns] to offer new elective courses on different topics such as digital economy and transformation, innovation/technology, crisis management, corporate social responsibilities, global supply chains strategy, and how to survive and succeed in global disordering.

“In light of rising corporate and managerial complexity and new challenges facing senior executives, our programme aims to improve participants’ analytical and decision-making capabilities, and enhance the competitive advantages of their enterprises.”

Part of CUHK’s EMBA curriculum involves major areas such as leadership, strategy with entrepreneurship, finance, globalisation and innovation/technology focuses, with an emphasis on the context of Hong Kong’s strategic location within China and the Asia-Pacific region.

CUHK’s EMBA was the first such programme to be founded in Hong Kong, in 1993. In the 2020 Financial Times Global EMBA ranking, the CUHK EMBA programme was ranked first in the Independent EMBA in Greater China (English-instructed) accolade. It was also ranked number one in APAC and number four in the world for Alumni Career Progress, and 15th in the EMBA Worldwide rankings.

“The encouraging ranking results reflects that students have significant progress in career advancement after completion of the programme. It is also one of the programme’s objectives to nurture this kind of student,” says Lam.

He points out the independent nature of the programme, which provides freedom to cooperate with different partners and offers courses to meet the emerging learning needs of senior executives in an ever-changing world. A distinctive feature, he adds, is that the programme also integrates Chinese wisdom with Western know-how to prepare business executives for future challenges in this region. “Thus relevant unique courses are offered such as I-Ching and Leadership and Strategic Perspective in East/West Context.

“Being the first EMBA programme in Hong Kong, and running for 27 years, the programme has also established a strong internal (among students and alumni) and external network (with corporates) in the business community in Hong Kong,” Lam says. “Since 2003, in collaboration with the Radio Television Hong Kong (RTHK), we have been running the “Talking to CEOs” and the “New Thinking in Management” TV/Radio programmes. These programmes have been broadcast on several key media channels including RTHK Radio One, RTHK TV 31, i-Cable Finance Info Channel, now Business News Channel and now Direct Channel.”

As an independent programme in the special administrative region, the university’s EMBA students are mainly based in Hong Kong and the Asia-Pacific region. There is also a weekend teaching mode, which benefits frequent travellers and gives students the option of not having to study during weekdays to avoid potentially affecting their full-time jobs. “In other words, it helps students manage their time so that they can work and study throughout the same period.”

Applicants tend to be those already in full-time employment, high achievers who aim to advance their careers to more senior leadership positions such as a CEO or general manager of a Hong Kong or APAC business unit. Furthermore, the EMBA programme appeals to senior executives with entrepreneurial mindsets who want to leave a legacy by creating an organisation and value for the business, CUHK explains. “[People] who would like to make positive impacts to the business community and to the world [ …] and senior executives who look for lifelong learning and networking.”

EMBA students come from a wide range of industries, job functions and educational backgrounds. “We have CEOs, GMs, CFOs, MDs, and company chairmen studying in our programme,” Lam elaborates. “Their places of origins are also diverse, including Hong Kong, the UK, the US, Canada, Germany, mainland [China], Taiwan, Australia, Russia and Malaysia.”

The programme is part-time over two years with a class size of 40 to 50 students. After successful completion, graduates receive their MBA degree. The EMBA costs HK$650,000, but students submitting their full applications in the early stages of the programme’s admission cycle will be automatically considered for the Early Acceptance Award of HK$30,000. Applicants are expected to have obtained a bachelor’s degree or professional qualifications equivalent to a degree and have at least seven years of post-qualification experience including five years in a managerial role, while holding a senior management position.

Other universities have also taken the reinvention route. City University of Hong Kong’s (CityU) EMBA programme director, Dr Michael Wong Chaksham, says, “Our EMBA takes a major revamp this year to focus on up-to-date management issues and blended learning. Foundation courses are all replaced by advanced and topical courses in three pillars: Innovation Management, Asia Connect, and Financing Strategy.”

In his director’s message, Wong asserts that the reinvention of CityU’s EMBA programme for 2020- 2021 was to nurture a new generation of corporate leaders for fast-changing business ecosystems.

The revitalised programme will continue to focus on the global-Asia business environments. Many Asian corporations are global leaders in a diverse range of sectors, from smartphones and automobiles, to household products. “Asia is the fastest growing economic area in the world, providing many opportunities for business innovation,” Wong notes.

Most modules at the City University are composed of three parts or activities: pre-class online study, a five-day intensive masterclass, and post-class assignments. “In addition to providing broad-based business education, our new EMBA narrows our foci [sic] to upskill themselves [on these] three pillars,” Wong adds.

These courses are designed to help decision-makers to adapt their businesses for continuity in light of geopolitical developments. “Modern corporate leaders should be aware of these issues and be able to develop strategies to implement their plans for innovation and transformation,” says Wong. “Given the US-China trade tension, many corporations in Asian regions are required to redevelop their strategies in Asia for production and marketing.”

“Asia provides an interesting platform for business growth. Industrialised economies [consist] of Japan, South Korea, Taiwan, Hong Kong, Singapore and Israel. Emerging economies include mainland China, Asean, India, Pakistan and others. This business platform gives many interesting business case studies and new opportunities for international activities.”

CityU’s new EMBA will provide study tours linking business schools in the Asian regions and develop joint activities with their local EMBA programmes in order to help leaders develop new business ideas about cross-cultural business.

On the financing front, Wong says many successful business firms today, including both listed companies and unlisted unicorns, are capable of communicating with institutional investors about their business prospects and eventually getting their funding. To be well-versed in these matters is an essential skill for any CEO, CFO, CTO and corporate board members. CityU’s new EMBA has developed three modules to focus on venture capital, private equity, IPO, debt financing strategies, and financing for M&A. “With sufficient funding, a business can easily transform and innovate itself.”

Traditional EMBA programmes, he says, aim to provide fundamental training in business, management and leadership, and as such are less attractive to seasoned executives. “Almost all our EMBA participants are aged between 35 and 55 and have already been successful leaders in their professions, such CFO, CTO, CIO, CMO,” Wong explains.

“They need to gain new ideas and strategies on how to transform and innovate their business for the next five to 10 years. Our new EMBA places more emphasis on professional sharing, in which corporate leaders with track records are invited to share their thoughts, experiences and latest practices on innovation, transformation, and financing strategies. Today, many business innovations come from corporations rather than universities.”

Beyond innovation, the realm of data science continues to be an important element in the executive curriculum.

“This is an important business strategy that corporate leaders should be aware of,” says Wong, whose EMBA programme covers big data applications and strategies in three modules respectively: strategic issues on fintech and financial services, innovations in marketing, and technology management for innovation.

CUHK’s Prof Lam agrees, “Big data/data science is important for some relevant industries with huge volumes of data. We will ensure that our students can learn how to solve problems in competitive business environments with quantitative methods and new concepts in data science.”

He adds that to enhance relevance and practicality for quality teaching, CUHK’s EMBA programme has developed case studies to enhance students’ learning ability. “To prepare students to deal with the big data trend, the programme aims to prepare our students to become visionary leaders with a digital mindset so that they know how to inspire big data talents and elites to apply AI or big data to achieve excellent business performance in the digital era.”

The duration of the course is 18 months to three years part-time with intensive mode in a class size between 10 to 20 students. Students are expected to attend one five-day masterclass every two months. The programme costs HK$650,000 plus general expenses for overseas study tours. Scholarships are available and range between HK$50,000 to HK$200,000 per student.

For those with an inclination for analytical and rigorous academic achievement, the Hong Kong University of Science and Technology (HKUST) is arguably the premier choice of education in the city.

Their HKUST Business School’s approach to data science requires students taking a core course in Applied Statistics and Regression – as basic training in big data for their students. “Our faculty have expertise in the applications of big data analytics in various business areas, including accounting, information systems, marketing, and operations management,” says Professor Zheng Shao-hui, department head and chair Professor in the Department of Information Systems, Business Statistics and Operations Management at HKUST School of Business and Management.

The school has launched a new DBA programme, starting in the autumn of 2021-22, that aims to develop senior executives through practice-driven research.

Established in 1991, the school is recognised for its dynamic, qualitative programmes and impactful research. It is one of the first Asian business schools to gain accreditation of both the US-based Association to Advance Collegiate Schools of Business (AACSB International) and the European Quality Improvement System (EQUIS).

“DBA students at HKUST go through a solid and thorough applied research training, gain exposure to the latest business research trends across disciplines and participate in a series of research training through a set of core and elective courses, and dynamic residential programmes,” Zheng says.

This four-year part-time programme is a 55-credit curriculum which comprises coursework and a thesis proposal in the first two years, and thesis research and residential programmes in the third and fourth year. HKUST Business School is ranked 30th in the world and number one in Asia in the 2020 Top 100 Business School Research Rankings by the University of Texas.

“The school is a world-class faculty with over 25 nationalities, making it a truly international community to pursue quality and distinctive research,” Zheng adds. “Our frontier courses allow students to be exposed to the latest research trends across seven business disciplines in the first year of study alone, and dynamic residential programmes are well-planned for students to participate in a series of research activities. An emphasis is put on interdisciplinary research where students receive co-supervision from the experienced research faculty.”

Students are expected to complete 11 core courses in their first year that are designed to help them focus on developing their research skills and understanding of research trends in different business disciplines. By the second year, they are required to complete four elective courses based on the academic backgrounds of the students and their intended research topic, and submit their DBA thesis proposal. Years three and four are dedicated to the completion of the DBA thesis research with oral defence and participation in the DBA residential programmes.

Some recent updates to the course sees the school organising a series of HKUST DBA online info sessions and research talks in which candidates can meet programme representatives and learn the finer details of the experienced research faculty and their ideas and findings.

A typical HKUST DBA candidate has at least 12 years of experience at a managerial level with a high standard of English. The programme seeks to admit a highly selective group of senior executives. This includes corporate executives, entrepreneurs and business owners, who are motivated to learn and share their experience, and who are committed to go through this professional doctoral training.

The HKUST DBA alumni has a track record in producing high quality research work and cutting edge knowledge with global perspectives in international publications. “Students,” Zheng adds, “will not only receive theoretical knowledge but also learn international practices from global perspectives that would be beneficial to their career development.”

The prestigious programme, which only accepts a maximum of 10 to 15 students per year, takes four years of part-time studies to complete. It costs $1,800,000 for the 2021- 2022 intake. Applicants must have at least a bachelor’s degree, fulfil the university’s English language admissions requirements, and possess substantial years of work experience.

At the end for each of these programmes, establishing meaningful connections while gaining expert insight into the industry has always been a main focal point.

Lam highlights the lifelong learning and networking opportunities that come from CUHK’s EMBA programme in which alumni and students have continued to connect through different types of non-credit bearing seminars and events since 2002.

CityU’s Wong chooses to emphasise his school’s EMBA association to which over 300 graduates belong, and can take advantage of its extension. EMBA graduates can join alumni activities of their EMBA (Chinese) programme, which have more than 300 students and alumni in mainland China.

Zheng in turn says, “The four-year academic journey [at HKUST] will allow students to establish professional and collaborative relationships with our faculty members and fellow classmates, to explore other possible research collaborations in the future.”

The CUHK programme is available part-time only and is completed over a two-year period. The total cost is HK$640,000, and scholarships are available. Students are expected to have a bachelor’s degree and at least seven years of business or relevant work experience, including five years in a managerial position.

Class sizes usually range from 45-50 people, which means there will be ample networking opportunities, in addition to joining the robust CUHK EMBA Alumni Association following graduation. According to Chan, applicants aren’t limited to the business/finance sector, as last year’s class had professionals working as doctors, engineers, accountants, lawyers and architects.