26 SCHOOL OF BUSINESS MANAGEMENT SCHOOL OF BUSINESS MANAGEMENT 27 ANNUAL REPORT 2014/15 ligned with Nanyang Polytechnic’s (NYP) brand promise of Nurturing Innovative and Enterprising Graduates, the School of Business Management (SBM) continued with its strategic initiatives in AY2014/15 to produce confident young men and women with 21st century skills who are: A • Innovative and enterprising • Professionally competent and knowledgeable • Communicative and articulate •Global-ready SBM GRADUATE ATTRIBUTES NEW INITIATIVES & DEVELOPMENTS Memorandum of Understanding with Association of Chartered Certified Accountants For AY2014/15, SBM welcomed 1,218 new students, bringing its total enrolment to 3,612 students for its nine diploma courses: Diploma in Accountancy & Finance Diploma in Banking & Financial Services Diploma in Business Management Diploma in Food & Beverage Business Diploma in Fund Management & Administration Diploma in Hospitality & Tourism Management Diploma in Marketing Diploma in Mass Media Management Diploma in Sport & Wellness Management SBM signed a Memorandum of Understanding (MOU) with the Association of Chartered Certified Accountants (ACCA) on the NYP-ACCA Accelerated Professional Pathway Scheme for students from the Diploma in Accountancy and Finance (DAF) on 14 January 2015. Students under the scheme will be granted conditional exemptions to start their ACCA programme even before completing their diploma. Upon completion, they will be awarded an Advanced Diploma in Accounting and Business from ACCA. These students will also embark on an extended sixmonth internship with Ernst & Young (EY) in their final semester of study if they clear the selection process conducted by EY. They will do their final ACCA paper ‘F9’ concurrently while they are on internship. EY has in-principle agreed to offer fulltime employment to these interns thereafter. MOU with Singapore Association of Convention and Exhibition Organisers and Suppliers SBM signed an MOU with the Singapore Association of Convention and Exhibition Organisers and Suppliers (SACEOS) on 5 February 2015 to equip Diploma in Hospitality & Tourism Management (DHTM) students with the necessary knowledge and skills to be industry-ready. SBM and SACEOS will collaborate on the development of business cases that will be integrated into the curriculum. These will help sharpen students’ skills in managing real events. SACEOS will also offer preferential rates for student membership Top: (From left to right) Senior Director of SBM Mr Henry Heng, ACCA members and DAF students 28 SCHOOL OF BUSINESS MANAGEMENT and exemptions from selected modules for professional certification programmes upon graduation. Students will be matched with SACEOS corporate members for professional mentorship for two years. MOU with Accor Hotels SBM has partnered Accor Hotels since 2009, and the School’s third MOU was renewed on 2 March 2015 at the Grand Mercure Roxy Hotel. Under the MOU, improvements were made to enhance the internship training for DHTM students, where they will have the opportunity to intern at two new Accor Hotels – The Singapore Resort & Spa Sentosa and Sofitel So Singapore. Students would also be assigned projects on productivity enhancement during their internship. NYP Business Lecture Series – “Business Builders and Game Changers” On 2 July 2014, SBM organised the NYP Business Lecture for 1,100 final year students at the NYP Auditorium. The Business Lecture Series gets business leaders to share with final year students about the journey that they have taken to grow their companies. Following the success of its inaugural lecture in 2013 with distinguished speaker Dr Robert Yap, Chairman & CEO of YCH Group, 2014 saw Mr Kenny Yap, Executive Chairman & Managing Director of Qian Hu Corporation, take the stage. Students had the opportunity to learn from Mr Yap who has been in the ornamental fishing industry for more than 15 years. Hospitality & Tourism Industry Seminar On 12 January 2015, SBM organised the fourth Hospitality and Tourism Conference. The theme was “Mentoring Gen Y in the Hospitality and Tourism Industry”. The highlight of the conference was the inspirational speech by guest speaker Mr Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings, who shared the life lessons he learnt in his youth and how these helped him achieve success in life and the hospitality industry. SBM Innovation Boot Camp The SBM Innovation Boot Camp was held over two runs in September 2014 for 1,200 first year students. The programme inculcated an innovative and enterprising mindset in SBM students through various training methodologies such as group brainstorming and problembased learning in a highly-interactive format. During the Boot Camp, students journeyed through four Innovation Stations, culminating in an Innovation Challenge Showcase of their Top: Mr Ho Kwon Ping and SBM students Below: The Business Lecture Series held at NYP Auditorium 29 ANNUAL REPORT 2014/15 ideas. From the 250 ideas, eight outstanding ones were selected as Innovation Challenge winners for their creativity, feasibility and market viability. The winning ideas included an anti-theft device at ATM machines and a dual function sports bottle. SBM Innovation Prototype Development Showcase As a follow-up to the Innovation Boot Camp, four teams of SBM students brought their creative ideas to the next level by participating in the BMS107 Innovation Prototype Development General Studies Module (GSM). Students were guided through the process of development, from product conceptualisation and design to eventual prototype development. The module concluded with a Prototype Showcase of the students’ final creations on 9 February 2015. Critical Thinking Skills – New General Studies Module The BMS253 Critical Thinking Skills is a new GSM introduced in 2014. Two runs of the module were conducted for a total of 1,200 second year students. The module enabled students to appreciate the importance of thinking critically in a fast-moving global environment and the competitive advantage they would gain if they do. Teaching through “Harvard-Style” Case Studies A total of 18 case studies written by SBM lecturers, working in collaboration with the industry, were deployed as teaching tools over the academic year. These were reviewed by the Singapore Management University for quality assurance. The SBM academic team also invited company representatives to interact with students for discussions about the case studies. This allowed students to put themselves in real-life situational challenges and propose solutions, helping them develop problem-solving and decision-making skills. Some of the case studies worked on were mall management and marketing issues in Capitaland malls, internal controls and risk management issues for Singapore Airlines and service operations & quality management for Olympus Imaging. Simulation Games As part of its new teaching pedagogy, SBM introduced simulation games to reinforce student learning as well as for assessments in 2014. The games allowed for hands- on practical application of concepts and better student engagement. To date, SBM has successfully implemented 18 simulation games. The games include Accounting simulation games for Principles of Accounting and Accounting for Assets Modules, and “The Retail Workshop Game” for the Essentials of Retail Operations and Management module. ColourYourWorld@SBM ColourYourWorld@SBM is an initiative to enhance the SBM student experience and provide a more customer-friendly school environment. The campaign aims to create a strong sense of belonging, pride and ownership among SBM students, promote innovative thinking and creativity, and provide a platform for them to have a say in the common spaces and systems in the school. A web portal was specially developed for the students to submit their ideas and suggestions. SBM Club Executive Team SBM continued grooming the Executive Team (E Team) as an interest group within the SBM Club in 2014. Opportunities were created for more than 130 SBM students to emcee, lead or host activities and events in an effort to encourage student leadership, improve communication and develop articulate, confident young men and women. The E Team managed, administered and assisted the running of key internal events such as SBM Director’s List Certificate Presentation Ceremony, Innovation Bootcamp, and external events like the 8th Top: NYP Principal & CEO, Mr Chan Lee Mun, addressing students at the Innovation Boot Camp 30 SCHOOL OF BUSINESS MANAGEMENT International Symposium on Advances in Technology Education (ISATE). Infrastructure Development for Teaching Enterprise Training – Productivity & Training Centre SBM entered an agreement with the Singapore Workforce Development Agency in June 2014 to set up the Productivity Training Centre under the umbrella of the Teaching Enterprise Project (TEP). The key objective of this collaboration is to raise awareness and equip students with key productivity tools so as to better prepare them for the working world. The Centre’s launch was on 6 April 2015 and Senior Minister of State for Law & Education, Ms Indranee Rajah, was the Guest of Honour. This Centre will be a new Teaching Enterprise that trains students in the implementation of productivity improvement projects. INDUSTRY TIE-UPS & PROJECTS Video Productions In 2014, Diploma in Mass Media Management students produced videos for the National Day Parade, the Formula 1 Singapore Airlines Singapore Grand Prix and MediaCorp’s SG50 – Singapore Day in Shanghai. These projects provided the students with opportunities to get involved in the details of filming mega events viewed by thousands of people. Industry Services Hub Under the umbrella of the Industry Services Hub that covers the Business Services Centre, Customer Relationship Management Call Centre and e-Learning Development Centre, SBM secured a total of 12 projects, including mystery shopping, customer satisfaction surveys, mystery callings, appointment settings and handling of inbound calls. Top: Senior Minister of State for Law and Education, Ms Indranee Rajah launching the Productivity Training Centre at SBM Below: The Productivity Training Centre 31 ANNUAL REPORT 2014/15 The industry projects gave TEP students good training and equipped them with allround skills. In addition to existing clients like the United Overseas Bank and Daikin Airconditioning (Singapore) Pte Ltd, two new clients were secured – Olympus Imaging Singapore Pte Ltd and the Institute of Singapore Chartered Accountants. Retail Entrepreneurship Projects SBM developed new retail concepts for entrepreneurship projects. Student entrepreneurs, consisting of current retail students and alumni, were recruited to set up retail entrepreneurship projects in Bugis and *SCAPE. PITCHallenge at *SCAPE was held in August 2014 and SBM teams were given retail spaces to run their project. At *SCAPE Underground, Tea with Love, which is currently run by SBM students, and Knocks, run by SBM alumni, have taken up new commercial space leases from October 2014. EVENTS Celebrity Chef Series @ L’Rez Throughout 2014, a host of celebrity chefs participated in SBM’s Celebrity Chef series. They included Chef Tadashi Ono of Hashi Japanese Restaurant and Chef Daniel Koh of Daniel Koh’s Kitchen who worked with the Diploma in Food & Beverage Business students at NYP’s training restaurant L’Rez on 19 February 2014 and 23 July 2014 respectively. Chef Tadashi guided the students on the art of Japanese cuisine while Chef Daniel gave advice on cooking Chinese dishes. Students also have learnt from Chef Rick Stephen from SATS Catering and Chef Louis Tay from the Tanglin Club Singapore on 12 November and 10 December 2014 respectively. During their visit, Chef Stephen and Chef Tay guided the students in the preparation of high-quality food in a rapid production environment and shared their culinary experiences of working in five-star hotels and private clubs in Singapore. Students also picked up useful tips from the two professionals in their Food Preparation and International Cuisine modules. Top left: Students involved in the video production for F1 Top right: Students working on the video production for National Day Parade Below: Students with Chef Louis Tay 32 SCHOOL OF BUSINESS MANAGEMENT Enactus SBM SBM has been working with Enactus Singapore to enable students to work on social enterprise projects within the community. Students completed the workshops and proceeded to the final stage of the Enactus Singapore Incubator Programme. Their social enterprise project idea is to minimise food wastage by redeploying near expiry food products to selected communities in Singapore. Verbal Minds (Oratorical Contest) Verbal Minds 2015, organised by the SBM Entrepreneurship Club, was held on 28 January 2015. The verbal pitching competition allowed students to present their business ideas in innovative and convincing ways. Through the process, the 20 participants honed their oratorical and pitching skills and applied their quick-thinking when presenting their entrepreneurial ideas. The top three students were presented with cash prizes sponsored by the Entrepreneurship Club Fund. Olympus Competition On 5 February 2015, SBM worked with Olympus to organise a Customer Relationship and Service Management competition. Participants had to propose a customer relationship management strategy for Olympus that focused on increasing customer acquisition, retention rates and sales, and submit their proposals to a panel of lecturers. The three groups with the best proposals were then selected for the second round of competition where they did a formal presentation to Olympus and SBM staff. The judges, comprising Olympus senior managers, were impressed by the students’ presentation skills and innovative ideas, and the winners were awarded Olympus vouchers worth a total of S$2,500. CME Group Trading Challenge The CME Group Trading Challenge is a four-week global electronic live trading competition where 28 teams of undergraduate and graduate students from National University of Singapore, Nanyang Technological University, Singapore Management University, Singapore Institute of Management and NYP traded a variety of CME Group products from multiple asset classes in a simulated trading environment on a real-time professional trading platform. The SBM team, comprising five students from the Diploma in Fund Management & Administration, made it to the Championship Round. SBM Short Story Writing Competition SBM’s first short story writing competition attracted 64 entries from students. The finale, which was held on 6 January 2015, was attended by more than 100 students and staff and included a sharing session by the guest judges and authors, Mr Don Bosco and Ms Danielle Lim, on their story writing and publishing experiences. HR Exchange 2014 – The Debate with a Difference To generate interest among students in current human resource management issues, SBM organised the HR Challenge 2014 – The Debate with a Difference on 7 January 2015. A total of 30 students were Top left: Students with Chef Rick Stephen Top right: Students honed their oratorical and pitching skills at Verbal Minds 2015 33 ANNUAL REPORT 2014/15 grouped into teams to conduct research on controversial topics in human resource management and debated on the given motions related to the topics. The theme for the 2014 edition of the competition was “Managing the Millennial Generation”. During the finals, teams debated the motion “Millennials are the least engaged workforce at the workplace”. Students impressed the judges, comprising HR professionals, with their presentations. NYP-ACCA Accounting Fest 2015 The Asia-Pacific Supply Chain Management Challenge SBM organised the NYP-Resort World Sentosa (RWS) Amazing Race 2014 – The Epic Treasure Hunt on 5 November 2014. A total of 11 secondary school teams participated in the competition where they produced promotional posters featuring hidden treasures and fun facts about RWS that they discovered during the event. The posters were put up on the Amazing Race Facebook page to garner ‘likes’ and the winning teams went on an exclusive RWS Marine Life Park back-of-house tour on 4 February 2015. The Asia-Pacific Supply Chain Management Challenge was organised by Supply Chain Asia to engage students in the industry through interaction with successful e-commerce companies in their country of origins. SBM students presented their views on the theme,“Challenges and Opportunities relating to e-Commerce and its impact on Supply Chain”. The competition allowed students to gain an understanding of the industry and deliberate the challenges and opportunities arising from the development of e-commerce. INDUSTRY EVENTS & PROGRAMMES Media Industry Networking and Sharing Session with MediaCorp SBM students attended a media industry networking and sharing session on 26 November 2014 organised by MediaCorp. Mr Sebastian Leang, Executive Producer of English Entertainment, and Ms Janet Ong, Production Manager of Chinese Drama, shared stories of the daily happenings at MediaCorp that piqued students’ interest. Singapore Customs Procedures Certification Programme for Supply Chain Management Students The Singapore Customs Academy conducted a one-day certification programme for 32 SBM students on 7 January 2015. The Academy was set up by Singapore Customs to share relevant technical knowledge and regulatory customs requirements with members of the public. The one-day certification programme comprised lectures on topics such as Customs Procedures and Customs Tax Regime and a warehouse visit to the Menlo Logistics distribution centre. The NYP-ACCA Accounting Fest 2015 is an annual accounting competition targeted at secondary school students and is jointly organised with ACCA. Held on 26 March 2015, the competition introduced 136 secondary school students to different accounting concepts and demonstrated how they can be applied to make sound business decisions in a fun and informal manner. NYP-RWS Amazing Race 2014 ACHIEVEMENTS Go Global Challenge SBM students pitched their international business strategy plan to executives from Banyan Tree Holdings and Sakae Holdings during the inaugural Go Global Challenge (GGC) held on 30 July 2014. The second round of the challenge was organised on 4 February 2015 and supported by industry partner, The Soup Spoon. GGC allowed students to apply international entry strategies that they learnt in class to the Below: Participants of the NYP-RWS Amazing Race 2014 34 SCHOOL OF BUSINESS MANAGEMENT business environment of actual corporations. Students made their presentations to a panel of representatives from the companies, and after intense rounds of presentations, the winning teams walked away with the prize money of $500 each and an invaluable experience that broadened their perspective and knowledge. Singapore Innovation & Productivity Innovation Challenge In conjunction with the Singapore Innovation & Productivity (SiPi) Conference organised by the Singapore Manufacturing Federation, the finals of the SiPi Innovation Challenge Trophy competition was held on 9 October 2014. Two SBM student groups made it into the top five finalist teams. Using the Business Canvas Model, the five finalists were required to submit their business ideas and demonstrate their understanding of business model innovation and implementation. At the final presentation, teams had to present their product, value proposition and commercial viability of their ideas, as well as their execution and risk management plans to industry judges. Team C-Nergy were the First Runner-Up with their business idea of selling cup cereal through vending machines that allow consumers to choose from a wide selection of milk flavours, cereal types and toppings. Team Company-X received the Consolation Award for their business idea to create customisable wearables that allow individuals to select specific physical activity sensors and synchronise them to a mobile phone application that displays personal health metrics. NYP-NETS YONO Viral Video Marketing Competition As part of their New Media Marketing module, SBM students produced a 30-second clip for the NYP-NETS Viral Video Marketing Competition. They were challenged to use their mobile devices to create a promotion for the new NETS YONO (You Only Need One) card. The submission to NETS was featured on *SCAPE’s big screen from 15 to 31 December 2014. Singapore Young Chefs Challenge A team of four second year SBM students received the Best Table Display Award at the Singapore Young Chefs Challenge held at the Singapore Hotel and Tourism Education Centre on 2 August 2014. Contestants had to create tapas-style Singapore heritage food dish and present it to a panel of judges. Dishes created included poached chicken roulade on rice cake and chilli crab buns among others. FedEx/JA International Trade Challenge This challenge was organised by FedEx Express and Junior Achievement to broaden students’ understanding of global trade and enhance their knowledge of product distribution, competition, pricing, promotion and sales. A total of 10 SBM students attended the International Trade Challenge workshop on 24 May 2014 that covered the market entry strategy tips and international marketing plan criteria. This year, there were a total of 68 entries from various schools and polytechnics. One SBM team made it to the Singapore finals. Local Champions, Global Leaders Competition As part of the SG50 celebrations, SBM students took part in Spring Singapore’s SG50 “Local Champions, Global Leaders” competition. The competition, held from 5 to 9 February 2015, gave students the opportunity to tell stories of local industry champions and multinational companies that have contributed significantly to Singapore’s economy in a media of their choice. SBM’s media and marketing students worked with Qian Hu Corporation and Rodyk & Davidson LLP to showcase their journeys through narrative videos and blog postings. It was an enriching experience for the students as they got to work with Qian Hu’s CEO, Mr Kenny Yap, and Rodyk’s partner, Mr Gerald Singham. The videos were part of the Qian Hu and Rodyk showcase at the Spring Singapore exhibition at the Suntec City Convention Centre. Below: SBM Teams C-Nergy and Company-X with lecturers 35 ANNUAL REPORT 2014/15 Asia Innovation Challenge On 29 March 2015, two Supply Chain Management (SCM) students emerged as the first place winners at the annual Asia Innovation Challenge, organised by the Junior Achievement Japan in partnership with Junior Achievement Singapore. The competition was also sponsored by FedEx. SCM students formed a team with two Japanese counterparts and was tasked with identifying a social issue in Southeast Asia and developing a product, service or business model to address the social issue. CAPABILITY DEVELOPMENT Staff Overseas Study Visits A total of 33 SBM staff embarked on various overseas study trips and immersion programmes to the USA, UK, Australia, China, Japan, South Korea, Malaysia and the Philippines. These visits gave staff members the opportunity to build networks with overseas organisations for possible future collaborations. Staff Attachment to Local Industry Five SBM staff members went on local industry attachments ranging from a period of one to two weeks. The attachments were at Olympus Imaging Singapore, Singapore Management University, Suntec Singapore, Resorts World Sentosa and APL, a subsidiary of Neptune Orient Lines. Staff on Overseas Attachments and Conferences Two SBM staff members were attached to overseas companies in Hong Kong and UK as part of their overall staff capability development. Another two staff members attended the National Association of Foreign Student Advisers Conference 2014 in San Diego, USA as well as the Asia-Pacific Association for International Education 2015 Conference in Beijing, China. Staff Overseas Faculty Teaching SBM continued to actively send academic staff for suitable faculty exchanges with partner universities. Four SBM staff members taught in overseas partner universities – IMC Krems in Austria, Dualen Hochschule Baden-Württemberg Mosbach Campus Bad Mergentheim in Germany, University of Applied Sciences Wuerzburg-Schweinfurt in Germany, and Robert Gordon University in Scotland. STUDENTS INTERNATIONAL PROGRAMME As part of NYP’s strategy to prepare students to be globally ready, SBM continued to provide students with various international exposures. These included: Overseas Student Exchange Programme As part of the Overseas Student Exchange Programme (OSEP), SBM students study for one semester at leading tertiary educational institutions abroad. During the year, SBM sent 109 students to partner universities under this study abroad programme. A total of 124 international students from partner institutions also attended a semester of classes in SBM. Top: Students with Qian Hu’s CEO, Mr Kenny Yap (centre) Below: SBM students Ang Yi Ting and Starlynn Goh (first and second from right) with their Japanese teammates 36 SCHOOL OF BUSINESS MANAGEMENT In 2014, SBM signed seven new MOUs with overseas universities, bringing the total number of OSEP partnerships to 47 universities across 17 countries worldwide. New MOUs were signed with the following institutions: Europe/UK • Northumbria University, UK • University of the Basque Country, Spain South Korea • Incheon National University • Chonnam National University Japan • Ryukoku University Taiwan • National Chi Nan University Hong Kong • The Higher Education Institute of Hong Kong (THEi) Overseas Internship Programme and Student Learning Centres SBM sent 20 students for overseas internships where they gained work experience and learnt of new cultures. Students interned at leading companies like Walt Disney World in Orlando, USA; Shangri-La Pudong in Shanghai, China; Ovolo Group, Hong Kong; and Banyan Tree Lang Co, Vietnam. New Overseas Learning Centre In 2014, SBM established a new student learning centre in Harbin, China. A total of 10 students from SBM, together with students from the School of Chemical & Life Sciences, attended classes and went on sightseeing trips from 21 to 29 December 2014. A total of 165 students also visited the three other Student Learning Centres in China (Panyu, Chengdu and Beijing), and two Student Learning Centres in Japan (Tama University and Osaka International University). Immersion and Educational Study Trips A total of 370 SBM students went on overseas immersion and educational trips to the UK, USA, Japan, France, Australia, Hong Kong, Taiwan, South Korea and Malaysia. Students visited business organisations and institutes of higher learning, and learnt how businesses operate in these countries. PROFESSIONAL DEVELOPMENT PROGRAMMES In 2014, SBM conducted 30 professional and executive development courses for a total of 732 participants. These included 17 Ministry of Education-funded public diploma and specialist diploma programmes, as well as five customised formal award certificate and diploma programmes. A total of 278 working adults completed their studies in the following formal award programmes in 2014: • Certificate in Business Management, 5th intake • Diploma in Business & Management Studies, 2nd intake • Diploma in Business Practice (Accounting), 1st intake • Diploma in Business Practice (Customer Relationship & Service Management), 1st intake • Diploma in Business Practice (Supply Chain Management), 1st intake • Diploma in Correctional Administration, 1st intake • Specialist Diploma in Fund Management & Administration, 8th intake • Specialist Diploma in Hospitality and MICE Management, 2nd intake • Specialist Diploma in Human Resource Management, 2nd intake • Specialist Diploma in Retail Business & Entrepreneurship, 1st intake • Specialist Diploma in Supply Chain Management, 12th intake During the year under review, SBM conducted a total of eight non-formal award short courses that included one new course in Beverage Knowledge and Service. Top: SBM students in Switzerland 37 ANNUAL REPORT 2014/15 Beverage Knowledge and Service The programme is one of 10 short courses offered by NYP under the SPRING-NTUC collaboration that aims to attract, place and train 500 Singaporean and Permanent Residents in the Food Services & Retail sectors over the course of three years. This course introduces participants to the identification, production and service of non-alcoholic beverages, beer, wine, spirits, cordials, cocktails, mixed drinks and coffee, as well as the sensory evaluation of beverages and services. In total, 157 participants completed the following short courses in AY2014/15: • Beverage Knowledge & Service, 1st intake • Certificate in Fund Administration, 17th intake • Certificate in Human Resource Administration, 25th - 28th intakes • Financial Management Skills for Non-Accountants, 3rd intake • Managing the Customer Experience, 2nd intake Top: Students in Osaka, Japan Below: Students in Beijing, China