Strengthening Global Business Education Through Collaboration - Highlights from the 13th BEST Alliance Symposium

Strengthening Global Business Education Through Collaboration - Highlights from the 13th BEST Alliance Symposium

On November 8, 2024, the Guanghua School of Management, Peking University hosted the annual BEST Alliance Symposium. This landmark event brought together academic leaders, faculty, and staff from three leading institutions: Peking University Guanghua School of Management (PKU), Seoul National University Business School (SNU), and Hitotsubashi University Business School, School of International Corporate Strategy (ICS). The meeting underscored the alliance's renewed commitment to advancing global business education and fostering cross-border collaboration.

The event agenda highlighted several critical initiatives across the alliance's member schools. From visionary strategies for 2030 to innovative curriculum updates and joint research programs, the discussions painted a vivid picture of the alliance's collective goals.

Collaborative Vision

Dean Qiao Liu of PKU opened the meeting by sharing Guanghua's strategies for 2030. These initiatives reflect a forward-thinking approach to addressing global challenges: The Thought Leadership Platform, launched in 2017, has completed 290 policy briefs and developed 38 courses. In 2024, it expanded its focus to include 26 new research projects exploring China's economic development and digital transformation. Guanghua's Sustainability Leadership initiative, through its annual Carbon Footprint and Carbon Neutrality Action Report, has set a precedent for sustainable business practices, transforming industry insights into actionable strategies. Additionally, the newly launched Frontier Technology Scenario Laboratory aims to leverage artificial intelligence to drive innovation in both business education and industrial practices.

Associate Dean Hongsuk Yang of SNU highlighted the school's efforts to deepen global connections. A significant milestone is the revival of the Global Residence Program (GRP) at Hitotsubashi ICS, scheduled for early November. This immersive experience will involve 20 students engaging in lectures and company visits for two days in Japan. Participants will have the opportunity to deepen their understanding of global business practices and cultivate cross-cultural collaborations. Dean Yang also reported a surge in MBA and EMBA program applications, attributing the growth partly to South Korea's cultural influence, including the global popularity of K-pop. He expressed optimism about strengthening relationships with international institutions through more frequent exchanges and visits.

Dean Emi Osono of ICS emphasized the school's focus on leadership and technological innovation. Notable updates include:

• The AI-powered Classroom Project, led by Professor Yoshinori Fujikawa, explores generative AI tools to enhance classroom engagement and provide actionable feedback to both students and faculty.
• ICS has also enriched its curriculum with electives such as Leadership and Career in Japan, Neo Japanese Management, Mergers and Acquisitions, Sustainable Finance, AI & Business, Management of Technology.
• Furthermore, ICS's recent re-accreditation with an "Excellent" rating from ABEST21 underscores its unwavering commitment to academic excellence.
• Dean Osono also highlighted the newly established SMBC Research Fund, supporting studies in sustainable finance. Professor Kei-Ichiro Inaba will spearhead this initiative with an endowed lecture in early 2025.

Connecting Students

A central theme in the discussions was the exciting opportunity to further enhance student mobility. Professor Yoshinori Fujikawa of ICS highlighted areas where participation in exchange programs could be increased, presenting a promising avenue for future growth. Guanghua's Shujun Mo proposed expanding the Doing Business in Asia (DBIA) program to include part-time MBA students and other master's programs, an initiative that could significantly elevate student engagement and broaden their global perspectives. Meanwhile, SNU's Byungjoon Yoo shared encouraging news about new exchange agreements, marking a strong upward trend in student opportunities and collaborations.

Joint Research: Bridging Academia and Practice

The afternoon session featured six joint research projects, showcasing the alliance's academic synergy. Collaborative projects with ICS faculty members included:

• "Learning to Say Thanks": A study on team gratitude by Professor Jack Ting-Ju Chiang (PKU) and Professor Satoshi Akutsu (ICS).
• "Cross-cultural empirical research on consumer acceptance of avatar robots in the retail and service contexts: Evidence from Japan and South Korea": Presented by Professor Satoko Suzuki (ICS) and Kiwan Park (SNU).
• "Governance structures and firm performance: A longitudinal analysis of Japanese firms": Presented by Professor Hiroshi Ono (ICS). These projects reflect the alliance's commitment to addressing real-world challenges through collaborative research.

Roundtable: Innovations in Business Education

The symposium concluded with a roundtable discussion moderated by Professor Jack Chiang, Director of Guanghua's International MBA Program. Panelists, including Associate Dean Qiaowei Shen of Guanghua, Associate Dean Byungjoon Yoo of SNU, and Professor Yoshinori Fujikawa of Hitotsubashi, shared their perspectives on the evolving role of business education. Topics included leveraging international collaboration to address common challenges such as aging populations, shifting talent demands, and the integration of AI and digital tools into curricula.

A Shared Vision for the Future

The BEST Alliance has exemplified the power of cross-border collaboration in business education and research over the past 13 years. The three schools remain committed to nurturing globally minded leaders, expanding program offerings, and addressing critical issues facing the East Asian region. With a shared commitment to innovation and partnership, the alliance is poised to contribute further to the development of the region and beyond.

Looking Ahead: The Roadmap for 2025

Alliance plans for the upcoming year include the next DBIA program (July-August 2025) and the annual symposium, which will be hosted by SNU in November 2025. These events promise to further strengthen the alliance's impact on global business education.

The 2024 BEST Alliance Symposium highlighted the transformative power of collaboration in academia. By leveraging each institution's strengths, the alliance continues to inspire innovation, foster cultural understanding, and prepare the next generation of global business leaders. As the alliance looks to 2025 and beyond, its vision for interconnected, impactful education remains stronger than ever.