Student Experience – Page 2 – Asia School of Business

Professor Renato Lima-De-Oliveira, Assistant Professor of Business and Society, Asia School of Business recently participated in a panel discussion on “Energizing Malaysia’s Future, with Gas” alongside Rosman Hamzah, Secretary General, Malaysia Gas Association, moderated by Sharaad Kuttan, Senior Anchor and Producer, Astro AWANI. Lima-De-Oliveira said besides being able to increase employment opportunities and the income of the energy source country, gas is a flexible and versatile energy source.

“In the last World Energy Outlook from the International Energy Agency (IEA), the experts from IEA said that gas is the hardest to predict. It’s the hardest source of energy to say if it’s going to increase, if it’s going to decrease. It’s a very versatile, very flexible source of energy. It contributes to decarbonizing the world, if you’re replacing coal,” Lima-De-Oliveira said.

To watch the full session recording, visit Astro AWANI’s YouTube channel

Established in 2015 from a partnership between MIT Sloan School of Management and Bank Negara Malaysia, Asia School of Business has been specializing in business administration-related courses like full-time MBAs and executive education classes for students from Malaysia and globally. We ask Professor Charles Fine, the dean of the school to talk about how the school has weathered the pandemic and where the future lies in executive education.

“We want people who are extraordinary but also unconventional – they are not looking for the traditional path. We’ve had students who have gone into traditional post-MBA roles, but we also have had people… who’ve gone into social enterprises and entrepreneurship.” – Professor Charles Fine

Listen to the full interview below.

When it comes to our mobility, the popularisation of electric vehicles (EV) symbolises the combination of advancements in technology coupled with the urgency of climate change. Globally, we are still not meeting the target greenhouse gas (GHG) emission reductions. Countries like China intend to phase out internal combustion engine (ICE) vehicles by 2030, Singapore by 2040, and now, the prospect of an increasingly electrified motor fleet in Malaysia is drawing closer.

Ultimately, the intent of EVs is to reduce fossil-fuel consumption in transport and the emissions to our atmosphere that come with it. However, EVs as standalone units are not going to be the single solution to a lower-carbon transition. In fact, electrification of vehicles is not likely to reduce our emissions significantly unless the grid electricity that we are powering them on sees an increasingly higher proportion of renewable energy in its energy mix.

The work at the Massachusetts Institute of Technology (MIT) by Prof John Sterman illustrates how the lens of systems dynamics helps us view climate change challenges holistically — rarely does any significant change happen as a single independent event. His work helps educate people to catalyse positive change by designing high-leverage policies for sustained improvement.

Of course, “greening” the ecosystem of transport networks constitutes only one component of the battle to reduce carbon emissions, but automobiles are an essential component. Change requires leadership in all areas and many shapes and forms. Let us break it down: Who are the leaders that can make this impact?

Governmental leadership

The 12th Malaysia Plan (12MP), unveiled in September, shows the government’s intention and aspiration to enhance green mobility to achieve low-carbon nation status. This is good news for climate action and sustainability in Malaysia. Incentives for local manufacturers producing EVs are being reviewed, incentives for consumers purchasing EVs are being discussed, and the general transition to a more sustainable transport system is being promoted.

With legislative mechanisms and policies, government leadership as an enabling force is intended to catalyse collaboration and innovation among the private, public, industry and governmental sectors. The central government’s master plan also encourages alignment by state-level policies, and that inclusivity will be necessary to ensure all of society can be a part of this.

Industry leadership

Major automakers are making bold commitments and pledges in their EV targets for this decade. Ford Motor Co has a 40% target of EVs by 2030, while Volkswagen AG goes as far beyond the pack as to expect half of its US sales and 70% of its European sales to be EVs by 2030. Such competition will help drive up innovation and drive down EV prices.

These targets by automotive manufacturers must be accompanied by significant capital investment, research and development, and management attention — to come close to accomplishing the goals set out. The challenges for manufacturers include battery development and manufacturing, semiconductor chip availability and reaping economies of scale in EV production.

Technology development plays a crucial role — as EVs must improve their appeal to certain market segments, for example, by offering batteries that can last longer and charge faster. EVs are becoming less expensive, and over the lifetime of owning an EV versus a conventional ICE vehicle, there are significant savings in maintenance and operational costs.

If EVs are powered with electricity from renewable sources such as solar and wind energy, then vehicle carbon emissions per kilometre will be dramatically reduced compared to ICE engines. This leads to a bigger question: What are the opportunities for us to lower our individual emissions from the transport choices we make?

Society as the leader

Choosing an EV is becoming an increasingly attractive solution for consumers. EV product appeal, complemented by incentives to purchase, subsidies to maintain and operate, and a charging-station infrastructure that is accessible, will drive sales growth for EVs. However, just replacing all ICE vehicles with EVs will not address all our transport challenges.

Beyond encouraging EVs over ICE vehicles, society must also consider citizen behaviour and the larger transport networks that complement automobiles. Rather than choosing to own an automobile, whether electric powered or not, there is an increasing demand in society for broader sustainable transport services. For non-vehicle owners who rely on ride-shares, for example, we might consider how they can encourage the further “greening” of transport.

Having ride-sharing apps that allow the choice to ride only in electric vehicles, for example, might speed the transition to EVs. Additionally, ride-sharing apps that add a “carbon price” of fuel in ride-shares could empower riders to make better and more sustainable choices.

Individual citizens need to be transformation leaders — each in their own way — raising their consciousness about climate risk and pushing individual, professional and institutional contributions towards a common agenda of carbon reduction. The only way forward is through active discussions as we all strengthen the dynamic processes that lead us to continuous improvement.

Read the full article HERE.
Originally published by The Edge Malaysia – a business and investment weekly.

Press Release from the Asia School of Business (ASB) – 9 November 2021

Kuala Lumpur, MY. Nov 9, 2021: In conjunction with the COP26 UN Conference on Climate Change in Glasgow, Scotland, the Edinburgh-based Global Ethical Finance Initiative (GEFI), together with the University of Glasgow and Royal London, is honoring the monumental contributions of Glasgow’s most famous economist, Adam Smith, with the publication of five essays on interpreting his treatise on The Wealth of Nations for the contemporary challenges the world faces with climate change.

Tan Sri Dr. Zeti Aziz, former Governor of the Central Bank of Malaysia and visionary and Co-Chair of the Board of Governors for Asia School of Business (a collaboration with MIT Sloan) was invited to contribute to this discourse with an essay interpreting for modern times Book V of Adam Smith’s Wealth of Nations. Dr. Zeti observes that Smith’s Book V addresses the appropriate role of government in influencing the populace’s wellbeing, which complements his famous observation that an “invisible hand” will typically guide economic transactions and outcomes.

In fact, Smith advocates that government provides what Dr. Zeti refers to as a “helping hand” concerning the provision of public goods and regulations where pure market outcomes require guidance. Her view is that Adam Smith would have advocated for government action toward environmental sustainability by providing regulations and incentives for private industry and providing appropriate investments to address the climate change agenda.

Immediately following the conclusion of the COP26 Conference in Glasgow, Asia School of Business’ annual conference, Leadership for Enterprise Sustainability Asia (LESA), will run from 15-18 November, amplifying many of the COP26 messages but interpreting them for Malaysia and the ASEAN and emerging Asian nations. Details on the ASB LESA conference appear at https://asb.edu.my/lesa. Dr. Zeti has been invited to share her views at the LESA conference.

The Press Release from the Global Ethical Finance Initiative (GEFI) appears below. The full essay by Dr. Zeti, reproduced by permission of the author, may be found on the ASB website at https://asb.edu.my/of-the-revenue-of-the-sovereign-or-commonwealth/

Press Release from the Global Ethical Finance Initiative

SCOTLAND’S FIRST MINISTER JOINS LEADING GLOBAL ECONOMISTS TO UPDATE ADAM SMITH’S WEALTH OF NATIONS FOR THE 21ST CENTURY CLIMATE CRISIS

A major new essay series has been launched at COP26 in which leading global thinkers explore today’s climate crisis through the eyes of economic pioneer Adam Smith. The reimagining of the Wealth of Nations includes a foreword from First Minister Nicola Sturgeon, in which she argues that Smith would have likely ‘supported regulation to guard against the destruction of the planet’.

She also makes the argument to look beyond GDP as the primary measure of a country’s success, adding: “At this pivotal moment for the planet and as we emerge from the challenges of the pandemic, progressive nations and governments are increasingly focusing on wellbeing, not simply an increasing GDP for the sake of it.”

The series of five essays has been prepared by the Edinburgh-based Global Ethical Finance Initiative (GEFI), in conjunction with the University of Glasgow and Royal London, bringing together world-renowned experts to reimagine Smith’s works.

The authors include Usha Rao-Monari, Under-Secretary-General at the UN, Professor Sir Anton MuscatelIi from Glasgow University, Lord Meghnad Desai, Professor Emeritus at the London School of Economics, sustainable fund management pioneer David Pitt-Watson and former Malaysian Central Bank Governor Dr Zeti Aziz.

This series of essays takes the Wealth of Nations and updates it for the 21st century, asking how Smith’s work applies to the challenges of today. The work is designed to encourage and inspire further creative thinking and practical action to leave an enduring legacy after the COP26summit.

The essays are being explored at an evening lecture series taking place across three days during the second week of the COP26 Conference at the University of Glasgow Adam Smith Business School, and online.

In her foreword, First Minister Nicola Sturgeon writes:

“We cannot know exactly how Smith would have responded to the climate emergency, but given his support for reasonable protections against, for example, abuse of monopolies, it seems likely that he would have supported regulation to guard against the destruction of the planet.

“This series of essays takes the Wealth of Nations and updates it for the climate change era, asking how the themes of Smith’s work apply to the challenges of today and teasing out how Smith himself might have reacted to the climate emergency.

“It showcases Scotland’s proud academic history, and is a timely celebration of one of the key figures of the Scottish Enlightenment… “It is the perfect time to reach back into our past as we look ahead to a future that is cleaner, greener and more just.”

Sam Wheldon-Bayes of the Global Ethical Finance Initiative, editor of The Wealth of Nations in the 21st Century, said:

“During the 18th century, the Scottish Enlightenment put Glasgow at the heart of world thinking. Today, with the world in Glasgow for COP26, we ask what we can learn from one of the great pioneers of the Scottish Enlightenment.

“Expert authors, across three continents, from the fields of finance, economics, politics, development and central banking have written five essays drawing on Smith’s themes and reflecting on the climate crisis.

“They consider both how Smith’s thinking can guide our approach to climate action, and what he himself might have thought about the climate crisis. “Our wish is that the essay series drives creative thinking and practical action to make the changes needed in the financial system for a sustainable future for planet and people.. ”

Kaisie Rayner, Climate Change Lead at Royal London, said:

“When Scottish moral philosopher and economist Adam Smith wrote his first book about markets, the role of government, and society, in 1759, he would never have imagined it’s global impact, far less its continued relevance in the modern world. Yet, here we are over 250 years later considering how it can help us navigate the 21st century. That’s quite some legacy.

“As the eyes of the world focus on Glasgow, it’s fitting that we consider Smith’s instruction to be guided by a moral compass. We also hope that leaders gathered for COP26 emulate the global success of Smith’s works and provide a legacy we can all contribute to and be proud of. The action we take on climate change over the next decade will radically shape the health of the planet, so we have to act now to help customers retire into a future worth living in.”

– END –

NOTES

The essays, including the foreword from Nicola Sturgeon, can be read here: https://www.globalethicalfinance.org/wp-content/uploads/2021/11/Wealth-of-Nations.pdf
Adam Smith at the COP- more information available here: https://www.pathtocop26.com/workstreams/adam-smith-at-the-cop/
Register for the launch events at: https://www.eventbrite.co.uk/e/adam-smith-at-the-cop-path-to-cop26-tickets-182421968017

Further details on the essays:

Essay 1: Of the Causes of Improvement in the productive Powers of Labour – Lord Meghnad Desai – renowned UK economist
Essay 2: Of the Nature, Accumulation and Employment of Stock – David Pitt-Watson, pioneer of ethical fund management and co-chair of finance negotiations at Paris Climate Summit
Essay 3: Of the different Progress of Opulence in different Nations – Usha Rao-Monari & George Gray Molina, Under Secretary at the UN charged with driving the UN’s Development Programme
Essay 4: Of Systems of political Economy- Professor Sir Anton MuscatelIi, Dr Michele Battisti & Dr Craig Smith, Leading Scottish Economist and Vice Chancellor of Glasgow University
Essay 5: Of the Revenue of the Sovereign or Commonwealth -Tan Sri Dr Zeti Aziz, former Governor of the Central Bank of Malaysia
The Misinterpretation of Adam Smith: Bringing Back the Theory of Moral Sentiments – Kaisie Rayner, Head of Climate Change at Royal London

About GEFI

The Global Ethical Finance Initiative (GEFI) is the hub at the centre of the ethical fina·nce movement. We curate independent conversations among a broad coalition of financial services stakeholders, as well as delivering practical projects. We are the partner for action on ethical finance, based in Scotland. https://www.globalethicalfinance.org/

The finance sector needs to act together to achieve decisive action at COP26 in Glasgow, the most important summit since Paris. With a global footprint and Scottish roots, GEFI has united the leading financial services stakeholders committed to action at COP26 with a campaign of over 30 events and activities. We are committed to making finance work for COP26, and COP26 work for finance. https://www.pathtocop26.com/

“Renato Lima-de-Oliveira, an assistant professor of business and society at Asia School of Business and a fellow of the Centre for Market Education, said this year has been a positive year for oil companies after a disastrous 2020. He said it is likely that 2022 would be even better, with the full recovery of production beyond pre-pandemic levels or above 100 million barrels per day.

But in the medium to long term, he said crude oil is still a sunset business as the world renews the calls to decarbonise by 2050 or earlier in order to deal with climate change. He noted that many countries are facing an energy crisis now like Brazil, China and the UK. “The core of the problem is that investments in fossil fuels are going down because of the push to decarbonise the economy and their lower long-term growth prospects in a net-zero emissions world but renewables are not yet mature enough to fully replace them.

“This is the time to put in place policies that are aligned with this emerging energy economy and are resilient to the climate challenge we face. “In particular, the aspiration to be net zero by 2050, as expressed in the 12th Malaysia Plan, is a start but it needs to be followed up soon with a concrete roadmap to boost investments in green economy,” Renato said.

Read the full article HERE.
Originally published by The Star.

Prof Melati Nungsari, Assistant Professor of Economics at ASB and International Faculty Fellow at MIT, is a microeconomist who focuses on industrial organization and labor economics. She found herself pursuing topics of income distribution, how people get jobs, and skills matching, by asking herself: “What can I do that helps solve problems?” At ASB, she found the opportunity to combine her interests and microeconomics lens to solve pressing regional challenges.

“If I was going to give up my job [in the US] and move back home, I wanted to have a broad impact. I got involved with supporting undocumented migrants and refugees and youth unemployment in Malaysia, as those are big issues here,” said Melati. Since joining ASB, she’s led research projects involving supporting undocumented migrants and reducing youth unemployment in Malaysia.

Equipping at-risk youths with entrepreneurial skills

Since 2019, Melati has trained hundreds of at-risk Malaysian youths in entrepreneurship under RYSE (Rapid Youth Success Entrepreneurship), a project she founded and leads. The inspiration for RYSE came from a course that Melati took at MIT on training entrepreneurs to succeed. Inspired by Prof Scott Stern’s work, she pivoted her research towards youth entrepreneurship, when she realized that youth unemployment is a significant issue in Malaysia.

In Malaysia, the youth unemployment rate stands at 11.72% as of 2020, making Malaysia the country with the second highest unemployment rate in Southeast Asia. Melati launched RYSE, aiming to build a curriculum similar to MIT’s, but more localized and accessible for Malaysian youth. She also took a research-based approach it RYSE, gathering data that would help in understanding how to improve entrepreneurial outcomes.

“We started with training urban youth, and have since extended our reach to rural areas in Malaysia, such as Semporna in Borneo.” RYSE also empowers promising young entrepreneurs with seed funding and coaching to launch their ventures. For three consecutive years, the Citi Foundation has funded RYSE, marking almost MYR2mil in funding to date.

Advocating for refugees, migrant workers, and vulnerable groups

Melati has also been instrumental in driving partnership between ASB and the United Nation High Commission for Refugees (UNHCR) to support refugee advocacy in Malaysia. As of end March 2021, there are 178,920 refugees and asylum-seekers registered with UNHCR in Malaysia. Through a series of Research Workshops on Refugee Studies and Forced Migration, held since 2018, ASB and UNHCR are promoting dialogue among academics on these topics.

In 2018, Melati, together with Prof. Sam Flanders from ASB and peers from Universiti Putra Malaysia, published a free textbook with UNHCR Malaysia to teach refugees conversational Malay language. Simultaneously, Melati and Sam are conducting an ongoing project to measure the impact of language training on the economic and social outcomes of refugees.

During 2020, Melati also received a WHO (World Health Organization) research grant and was engaged by the UN Development Fund to study the effects of the pandemic on vulnerable groups and human rights in Malaysia.

Melati is also Faculty Director for the Maybank-endowed ASEAN Research Center. “We were given a USD5mil grant to start this center to fill the gap in research on ASEAN-specific issues.” The Center’s first flagship project, launched in 2021, focuses on understanding how Covid-19 has affected small businesses and roadside hawkers throughout Malaysia.

Educating future CEOs on worker and social issues

This research work informs Melati’s classroom approach. “I ask students to think beyond managerial considerations – to leadership and strategic issues, like labor rights and social justice considerations.” For instance, during the pandemic, there were “problematic issues with worker management – leading to outbreaks and clusters,” emphasized Melati. She believes these circumstances were due in part to “a lack of understanding of how life is for workers.”

When teaching, she aims to educate her students, who may become future CEOs and founders, so that “when they lead companies, they don’t overlook these issues.” These issues are pertinent for any business leader, emphasized Melati.

“We are seeing a rise of conscious capitalism – consumers are demanding that brands align with their values. More global brands are aligning with social issues. Businesses need to understand the labor aspect of business, as worker issues have an impact on brand reputation and sales. Businesses have a big role to play in solving these issues.”

Read the full article here.
This article was originally published on South China Morning Post.

Professor Kevin Crow, Assistant Professor of International Law and Ethics, Asia School of Business (ASB) and International Faculty Fellow at MIT Sloan, was elected to the coordinating committee of the European Society of International Law (ESIL)’s Interest Group on International Legal Theory and Philosophy (IGILTP) this May, making him the first business school professor and first ASEAN-based professor elected to the committee.

Professor Crow’s participation in the committee will span the next four years, during which time he will play a role in setting the theoretical and philosophical agenda for the world’s largest international law society. He will also contribute to the IGILTP’s mission of facilitating research, dialogue, education, and reporting related to all areas of international law and international legal theory.

Alongside his work with ASB and MIT, Professor Crow is an affiliated researcher focusing on freedom of political expression and data privacy with Columbia University’s Global Freedom of Expression Initiative, which brings together international experts and activists with the University’s faculty and students to survey, document, and strengthen free expression.

In addition, Professor Crow is active in legal consulting and international impact litigation, including advising UN working groups on global business and human rights issues. His new book, International Corporate Personhood: Business and the Bodyless in International Law (Routledge 2021), theorizes the phenomenon of corporate legal personhood in international law.

Find out more about Professor Crow here.
Watch a Virtual Masterclass by Professor Crow on the subject of Responsibility in Action.

Read the full article here
This article was originally published on Asia Law Portal.

PETALING JAYA: Having a good grasp of what stage an organisation is in can help business owners better identify the right tools and people needed to bring the company forward. There are unique challenges at each stage of an organisation’s growth and being able to recognise the road ahead gives the company and its leaders an advantage, said Loredana Padurean, associate dean and faculty director for action learning at the Asia School of Business & International Faculty Fellow at MIT.

Padurean added that understanding each stage would ensure the right preparations are made and that will be crucial to helping the company make the leap into the next phase. “Working in a start-up may feel like a jungle trek while working in a large, mature company can feel more like being on a tanker ship in a large ocean. “Therefore, we have to understand the unique opportunities and different challenges that come with each stage, to know what strategies to apply, what type of people to hire and what kind of investments to make to move on to the next stage, ” she said.

The earliest stage of a company, she said, was all about figuring out and successfully prototyping a proposition that works for every stakeholder in the value chain including customers, employees, suppliers, distributors and investors. At this stage, quick thinking, fast actions and an innovative mind will be the strongest assets. Once the company is able to scale, it will need to grow in parallel to its market alongside its production and delivery capabilities.

This is where six main capabilities become important, namely, processification, professionalisation, automation, segmentation, collaboration and culturalisation. When the company reaches a certain stage of maturity, innovation and maintaining an entrepreneurial mindset will be key. “It’s critical that organisations understand that only by maintaining an entrepreneurial approach throughout that they will be able to grow and maintain a competitive advantage, ” she said.

Padurean will be speaking at the workshop “The Entrepreneurial Organization: Nail It, Scale It, Sail It” on Sept 29. The programme is to help participants understand the evolutionary journey that companies go through from the early stages to become a mature and sustainable company. It will also help provide specific tools necessary for companies to transition from one stage to another with relevant case studies.

This framework is taught in MIT Sloan programmes including its Executive Program in General Management. The full-day workshop will be held at Menara Star, Petaling Jaya. The event is organised by Star Media Group in partnership with Asia School of Business.

Originally published by The Star.

MALAYSIA’S independence was achieved with the collective strength of all races and religions. Her continued growth and success will also be defined by the continued empowerment of all. Recently, I spoke to a young Malaysian whom I believe exemplifies the Malaysian dream. Dreams usually begin with an idea. For Yizhen Fung from Kota Baru, Kelantan, the idea was planted from conversations that she had with friends made online.

“As a teen, I spent a lot of time on online forums. I befriended someone from Hong Kong and we frequently discussed world issues and future goals. I particularly enjoyed listening whenever she talked about her dream of going to Oxford University.” Slow as the days of dial-up and early broadband were, the Internet was her window to the world and gave her fresh perspectives on life – socially and culturally.

“The ideas planted in my mind through these interactions would somehow lead me to Oxford, and later on, the Asia School of Business in collaboration with MIT”.

Small Town Perspectives

As a Kelantanese native, Yizhen spent her early childhood in Kuala Lumpur, and moved back to her hometown of Kota Baru when her family decided to start their own business there. For a thirteen-year-old who could not speak a word of the local Kelantan dialect, the culture shock was apparent. At school, Yizhen was the only Chinese girl in her year. She quickly picked up the local dialect, made many friends and immersed herself in Kelantanese Malay culture.

Her teachers had to adapt to her too. These adolescent experiences deepened her perspective of religious and cultural diversity. Kota Baru was a much sleepier town then. Its first Starbucks opened only in 2018. “It was a blessing in disguise. I could focus on my studies”. One of two students in her school who achieved 10A1s in their SPM examinations, she decided to pursue law but unfortunately, could not secure any scholarship because “policies precluded science stream students from an arts scholarship”.

Undeterred, she enrolled into an A-levels programme at a college in Kuala Lumpur and excelled again. Equipped with her A-levels results and inspired from the conversations she had had with her online friends, Yizhen applied to do the undergraduate law programme at Oxford.

Stepping Towards the Dream

Yizhen recalls her Oxford University admission interview at the Renaissance Hotel in KL. “I printed out the Wikipedia page on ‘law’ and memorised it. While waiting, I overheard these two girls from a renowned boarding school chattering away about worldly issues. They spoke so eloquently. I was intimidated but also impressed. Despite being Malaysians, our worlds appeared so different”.

Yizhen aced her interview and was offered the opportunity to read law at Brasenose College, University of Oxford. This happy news was compounded by a further stroke of fate. Shortly after, the Government’s Public Services Department (PSD) announced scholarships for students who received an offer from any of the world’s top 5 universities (the scholarship no longer exists). This allowed Yizhen to pursue a pivotal opportunity that she otherwise would have lacked the means to.

City of Dreaming Spires

Yizhen recounts her time in Oxford as both very difficult but also very rewarding. “Oxford was a hard and fast lesson which made me realize how small I was and how little I knew about the world beyond Malaysia,” she said Oxford’s emphasis of independence in academic and critical thinking stood out. The professors were constantly pushing academic boundaries but were also willing to provide extra guidance.

With high expectations and tight deadlines, Yizhen learned to confront her insecurities and re-frame her mindset. “In a furnace environment, you either melt or emerge as steel. Progress is most important, rather than ‘perfection’ and knowing when to seek help.”

Off the Beaten Track

Yizhen graduated in 2011 and returned to Malaysia to fulfill her scholarship bond. Realising early on that legal practice was not her true passion, she spent five years servicing her scholarship bond at a capital market regulator, working first as policymaker and subsequently speechwriter and advisor at the chairman’s office.

Despite the fast-paced career trajectory, she yearned for something more. “While regulators play a noble role in facilitating innovation, the private sector is at the forefront of innovation, disruption and change. I wanted to be a part of that.”

MIT-Asia School of Business

Yizhen decided to go back to school. The MBA program at the Asia School of Business in collaboration with MIT Sloan (ASB), with its campus in Kuala Lumpur, was the perfect solution. “A dear friend I met many years ago was part of ASB’s inaugural class. I witnessed his transformation first-hand from a self-made entrepreneur to a well-rounded corporate leader. This convinced me to do the MBA.”

Of the 20 months programme, Yizhen spent 8 months abroad, including in Thailand, Vietnam and Hong Kong working on projects across manufacturing, financial services and consumer goods. She also spent 4 weeks taking classes at MIT in Boston. And all this was done together with 46 other classmates from 18 nationalities. “It was a truly global experience that trained me for an environment of constant change and collaboration.”

Yizhen returned to Malaysia shortly before the Covid pandemic escalated and graduated (virtually) in April 2020, winning both the Dean’s Award for outstanding academic performance and award for Best Action Learning project. Due to Covid-19, Yizhen had to turn down a job opportunity in Hong Kong. But as one door closes, another opens. She recently started her new role as chief of staff at a Southeast Asian conglomerate that is innovating rapidly for a post-Covid world.

Freedom Enabling Future

In the spirit of Malaysia’s National Day, I asked Yizhen about what independence means to her as a young Malaysian. As someone whose journey has taken her across cultures and continents, her response was simple: “The freedom to shape one’s own future, irrespective of the background they were born into. Social mobility transforms lives and transcends generations.”

“The most empowering thing about social mobility is that the onus is not on the government alone; we all have a role we can play. I have grown immeasurably from the advice and help received from the countless friends, mentors and colleagues, all of whom were kind, generous and genuinely wanted me to succeed.” Yizhen’s final reflection, “Above all, be generous with your time and pay the kindness forward as you never know whose lives you might touch next!”

I believe Yizhen’s journey represents what an independent Malaysia has enabled us to achieve, from the opportunities to the possibilities. Malaysia is a still a work in progress, but 63 years on, there is a lot to build on. Happy 63rd National Day!

This article was originally published on The Star

Over the past few months, retail businesses have faced both enormous opportunities and unprecedented challenges. Their leaders have had to work hard and fast to take advantage of the changing landscape and transform their businesses, sometimes beyond recognition. Through a panel discussion led by the ASB Career Development Office as part of its “Rejuvenation & Reimagination Series,” we explored how retail operations have evolved during the COVID-19 pandemic and learned about the new opportunities that have arisen.

The discussion was led by ASB alumnus and branding expert Azra Becirovic, with insightful panelists Faizah Asma Mohamed Anuar of Lazada e-Logistics and Kristy Yong, Executive Director of the popular Malaysian retail outlet MS. READ. Both Lazada and MS. READ have had to fast-forward their operational plans in order to meet customer needs, creating two distinct challenges:

adapting to changes in customer demand
using digital technology to maintain customer intimacy

Read on to learn how they anticipated and addressed these challenges.

Challenge 1: Adapting to Changes in Customer Demand

When the Movement Control Order (MCO) was announced in Malaysia, e-commerce platforms like Lazada were perfectly positioned to deliver necessities to their consumers, while also supporting the businesses of their sellers. Not only did they have to onboard triple their normal rate of new sellers, they were also faced with the challenge of handling entirely new product categories, including fresh foods. Faizah explained:

“We had a crisis where our Cameron farmers had trouble getting produce to their customers, and they actually had to dump their produce. Because we had underlying tech, we had the ability to do same-day delivery within four hours. We had to make tweaks, and of course not sleep overnight… to adapt the tool to suit our sellers needs, but in two days we set up the Cameroon farmers.”

Lazada had already invested in its underlying logistics network and technology, which put them in a position to step in and serve a need earlier than previously planned. They have continued to innovate, launching an online fresh food bazaar for Ramadan, which despite the lockdown helped increase the reach of some of their sellers compared with previous years.

But what about businesses that are primarily brick-and-mortar, like MS. READ? Beyond restricting how consumers could access products, the MCO also changed consumer priorities. People are now more conscious of their material needs, looking for products that are long lasting and local. By keeping its brand’s purpose at the forefront of their strategy, MS. READ has been able to continue delivering customer value.

Kristy said, “The average basket size has definitely dropped. People are making more meaningful purchases. They’re just making more conscious decisions, so it’s really about upping that customer service to keep the sale.” By the time customers could return to the store, Kristy and the MS. READ team also paid special attention to making sure that both staff and customers felt safe.

With only three days prior notice before lockdown restrictions were lifted, they made the decision to move the opening day back by one day, so that the team could spend more time preparing and sanitizing the store and make sure they were set up for success. Lazada and MS. READ were able to navigate these challenges by focusing on what their customers needs are now and what they will be in the future. In both cases, preparation and adaptability played a huge role.

Challenge 2: Using Digital Technology to Maintain Customer Intimacy

As a technology platform, Lazada had access to a tremendous amount of data, and the resources to extract insights from that data. Faizah mentioned, “[Through these insights] we have meaningful discussions with our customers to get them to improve or allow us to support them better.” Their expertise in the digital space meant that they were already equipped with the tools they needed to handle the new normal.

But for MS. READ, the MCO gave them time to prepare a digital strategy for the first time. They started by having regular check-ins with customers over Whatsapp, but knew they needed a more robust system. As Kristy explained: “The downtime over the last MCO has given us an opportunity to build out our backend to have better visibility and integrate the customer journey online and offline.

This crisis has allowed us to build the visualizations that will enable us to read, understand, and use our data.” In this case, the crisis became an opportunity, allowing MS. READ to move forward with digital transformation initiatives and better serve their customers.

Advice for Job Seekers

The two speakers shared some wisdom on navigating the job market over the foreseeable future. The job market has changed drastically, which means everyone must reevaluate their options and think about where they ultimately want to go in their career. Now more than ever, those who are hiring are looking for adaptable and tech savvy leaders. Faizah said:

“It is a limited market, so you have to give and take… [The next job] may not be your ideal job. But if it takes you one step toward a role which can give you experience, then take it. It’s about how much you want it. It’s about learning. It’s about where you can bring value in the role that you are in. If you are fortunate enough to land that role, then value it. Be hungry.”

There are many more challenges ahead, which means tomorrow’s leaders will need to be resilient and able to add value in an uncertain environment.

Category: Student Experience