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CUHK MBA Students Won the 3rd Place of
L¡¦ORˆ[AL e-STRAT 6 CHALLENGE is the largest internet strategic competition in the world. Since L¡¦ORˆ[AL launched its e-Strat Challenge in 2000, applications have skyrocketed; the number of applicants has risen thirteen-fold. This year the competition divides the participants into eight geographical zones to compete for champions in the MBA Category and the Undergraduate Category. Over 40,000 students from 125 countries participated. They formed teams of three students to participate in a total of 6 rounds¡¦ competitions on the internet and were required to take the role of a General Manager to manage an international cosmetics firm. World-renowned universities such as the London Business School, Indiana University, Yale University, The Kellogg School of Management, Stanford Business School, MIT School of Management and Peking University participated. Those 300 selected teams (including both the MBA and the Undergraduate categories) in the semi-finals submitted a business plan apart from taking part in the 6th round while the 16 international finalists have to present their business plans to a jury of top management and strategic experts of L¡¦Oreal at the Eiffel Tower in Paris, in order to persuade L¡¦ORˆ[AL to buy their companies. MBA students of the CUHK who won the competition are grateful to participate in this competition. Team member Peter Liu said, ¡§We have sharpened our analytical, presentation and business plan writing skills through this competition. We also learned a great deal about marketing especially for the cosmetics industry and the China market. We had to make strategic planning on product attributes development, distribution channel coverage, advertisement and creation, promotion and pricing. We went through months of hard work to achieve this result so we are all very happy with this rewarding experience.¡¨ Prof. Michael Ferguson is very pleased with this result, ¡§The students have spent much time and effort in this competition and I feel very proud of them to represent Hong Kong to achieve this excellent result. We are celebrating the 40th anniversary of our MBA Programmes this year and this news is even more commemorative. The Chinese University of Hong Kong established the first full-time MBA programme in 1966, followed by the first part-time MBA programme in 1977 and the first EMBA programme in 1993 in Hong Kong. Since then, we have always strived to review our curriculum and aim to offer innovative management education which features at combining global vision with local relevance. We are always committed to providing world-class education and research in business administration to cope with the needs of Hong Kong, the mainland and the international community. For instance, we have increased the percentage of our international students for our full-time MBA Programmes from 44% in 2002 to 85% this year to cover 13 countries. This has proved that we have succeeded in creating an Asian MBA education center which is very popular among overseas students.¡¨ Prof. Ferguson continued, ¡§For more than 40 years, the Faculty has nurtured over 3,800 MBA graduates, which is the largest contingent of any business school in Hong Kong, and many of them are key decision-makers in the business world. We have recently launched The Distinguished Speakers¡¦ Series in March and April to commence the 40th Anniversary Celebrations of our MBA Programmes. The Distinguished Speakers¡¦ Series features three eminent local business leaders of the banking and financial sector in town including Dr. Hon David Li Kwok-po, Chairman & Chief Executive of the Bank of East Asia Ltd., Dr. Vincent Cheng Hoi-chuen, Chairman of HSBC Ltd. and Dr. Joseph Yam Chi-kwong, Chief Executive of the Hong Kong Monetary Authority. Together with our alumni, we are going to organize a series of celebration programmes to commemorate this historical moment.¡¨
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