Balancing people, planet, and profit: How sustainability drives businesses, with accountants leading the charge

Balancing people, planet, and profit: How sustainability drives businesses, with accountants leading the charge

by | Dec 10, 2024 | Nanyang Executive MBA

Graduate Studies Blog

Balancing people, planet, and profit: How sustainability drives businesses, with accountants leading the charge

NANYANG EXECUTIVE MBA

Balancing people, planet, and profit: How sustainability drives businesses, with accountants leading the charge

The clock is literally ticking on climate change. We have less than five years before global temperatures reach a point of no return of 1.5°C of warming, beyond which global warming becomes irreversible.

This deadline is pushing governments to meet global environmental targets by 2030 to address rising temperatures from climate change and reverse massive biodiversity loss.

Businesses must now go beyond counting their profits to measuring the impact of their operations on the environment. They’re on the clock, too – under pressure from both consumers and regulators to commit to sustainability in practice, not just in name.

Green accounting, or sustainability accounting, has increasingly become central to companies’ operations. With sustainability accounting on the rise, accounting personnel must take on a larger leadership role in helping businesses meet their sustainability targets.

In a recent NBS Knowledge Lab seminar – and in ensuing conversations – Goh Kia Hong, senior lecturer at Nanyang Business School’s Accounting division, and Anne Liew Mei Hong (Nanyang Executive MBA ‘25), chief financial officer at Chuan Hup Holdings Limited, highlighted the benefits of sustainability reporting for businesses, and detailed how accountants can lead the charge.

 

Sustainability reporting and accountants’ evolving roles

The United Nations defines sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.”

In this context, green accounting measures the environmental costs and benefits of economic activities, aiming to maintain environmental sustainability and meeting corporate social responsibilities.

Governments have made sustainability a legal obligation for businesses in their jurisdictions. For instance, Singapore now mandates SGX-listed companies to report Scope 1 and Scope 2 greenhouse gas emissions, in line with global standards like the International Sustainability Standards Board (ISSB).

To accurately report on this expanded view of a company’s business activity, accountants must go beyond their traditional focus on financial data to “tracking, reporting, and verifying non-financial data related to ESG (environmental, social, and governance) factors,” Anne says.

“Only the accountant has visibility into the entire ecosystem,” she adds. This puts them “in the best position to find a balance between complying with sustainability and achieving profit goals.”

Kia Hong understands that this new role might stretch accountants’ current comfort levels. “Integration of non-financial data – especially related to environmental and social impact – can be complex,” he says. “Accountants need to adapt to new methodologies, terminologies, and regulatory frameworks.”

 

Overcoming data collection challenges

Accurate metrics are the foundation of effective green accounting. “Ensuring the accuracy and consistency of data is crucial in sustainability reporting, and it is also the most challenging part,” says Anne.

While global reporting frameworks like the ISSB provide accounting professionals with a reporting template to follow, Kia Hong notes that collecting accurate metrics is often easier said than done. For one, he notes that “accountants have limited expertise in environmental metrics such as carbon emissions and energy use.”

He also recognises that there is a “lack of standardised methods for collecting non-financial data.” For example, “qualitative factors like employee well-being or societal impact” are difficult to measure.

Despite these challenges, Kia Hong suggests several methods for improving data accuracy: accountants should rely on “verified, reliable data sources” and apply “clear methodologies, such as the GHG Protocol for emissions.”

He adds that “collaborating with experts in environmental science and engineering” and “leveraging digital tools such as data analytics, AI, and IoT (Internet of things) systems to automate and verify data collection processes” can improve the reliability of sustainability metrics.

For Kia Hong, accurate reporting promotes an ethical approach that “builds trust with stakeholders and reduces long-term risks,” minimising the temptation to resort to superficial claims (greenwashing) or silence (greenhushing).

“Accountants play a crucial role in ensuring transparent, honest reporting by adhering to clear standards, such as those set by the ISSB, and emphasising the importance of accuracy in disclosures,” he points out.

 

Aligning sustainability with corporate strategy

Anne notes that accountants are in an “ideal position to communicate sustainability performance to stakeholders (management, the board, auditors, and shareholders).”

This indicates a duty to advocate for closer alignment between corporate strategy and sustainability – for instance, by integrating sustainability goals into the company’s core business objectives and strategic plans, “to make sustainability a driver of business performance rather than a side project,” as Anne puts it.

Anne also recommends “linking sustainability strategy to value creation for stakeholders such as increased brand reputation, improved customer loyalty, better employee retention, and improved investor confidence.” An Oxford University meta-study supports this observation, finding that 80% of respondents saw stock price performance positively influenced by good sustainability practices.

Anne also proposes that “individual departmental KPIs should include sustainability reporting elements.” She adds that this can incentivise employees at all levels to prioritise sustainability in daily tasks and decision making, embedding sustainability in operational practices over the long term.”

 

Building a culture of sustainability

Anne stresses that sustainability is not solely the responsibility of the accounting department but requires a “concerted effort across the board – from stakeholders, the board of directors, and vendors.”

“Everyone plays a role, but I think accountants can be the project leaders in the data collection process,” she says. “The role of accountants is to marry this data into a business perspective – showing its implications on cost, revenue, and risk.”

Training and education can help foster a broader understanding of sustainability principles across different departments. Training achieves several goals at once: “creating awareness, building internal capacity, and building more support and consensus across different departments in the organisation,” Anne points out.

What is most important, Anne notes, is that “at the end of the day, the entire organisation needs to align with the same vision to achieve the goals set by the company.”

Anne also advocates for implementing specialised accounting software that integrates with existing ERP (enterprise resource planning) systems and supply chain data sources. This is “to facilitate data collection while improving traceability and accuracy” – enabling more effective monitoring and reporting of sustainability performance.

 

The future of green accounting

For Kia Hong, tomorrow’s accountants will need to adjust to a future that “will increasingly blend financial and non-financial reporting, which requires them to expand their roles in ESG, climate risk assessment, and integrated reporting.”

In brief, they’ll need to rise above a limited reporting-only role to “become strategic advisors, helping businesses navigate sustainability challenges while remaining financially viable…. as standards become more widespread, the role of accountants will evolve towards ensuring holistic accountability – encompassing environmental, social, and economic dimensions.”

As accountants upskill and diversify their skill sets, they will be able to serve more organisations integrating sustainability into their operations – and do their part to race against the clock and meet sustainability goals.

 

The Nanyang suite of MBA programmes can help prepare finance executives for this sustainability-focused finance regime. The period of study spans between 12 months to 2 years, depending on the chosen programme.

The programmes emphasise developing culturally aware, impactful leaders who grasp the synergy between business, technology, and innovation, empowering them to thrive in international environments and navigate continuous digital transformation.

Learn more about the Nanyang MBA programmes here.

 

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Click here to learn more about the Nanyang Executive MBA programme or contact us at execmba@ntu.edu.sg.

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Rethinking Marketing Education for a Sustainable Future

Rethinking Marketing Education for a Sustainable Future

by | Dec 10, 2024 | MSc Marketing Science

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MSC MARKETING SCIENCE

Rethinking Marketing Education for a Sustainable Future

Sustainability is often preached, but inconsistently practised in the corporate world. Different stakeholders pursue misaligned goals: while governments require companies to implement globally-adopted sustainability practices, consumers often hesitate at paying more for green products.

Businesses are stuck in the middle. How can they market “net-zero” products, while generating sales despite the higher perceived cost?

This fundamental question drives Nanyang Business School’s new marketing module for Master of Science (MSc) in Marketing Science (MMS) participants, “Marketing Sustainability”. Developed and taught by Asst Prof Charlene Chen, the module is designed to foster sustainability principles in emerging marketing professionals.

Asst Prof Charlene Chen

“It’s a forward-looking course – it’s about encouraging our students to use a marketing toolkit towards pushing the sustainability movement forward,” Prof. Charlene explains. “With the right training, we’ll have more champions of sustainability in marketing, and more effective champions of sustainability as well.”

 

New module bridges gap between marketing and sustainability

Companies, consumers, activists, and governments define sustainability based on their own short-term considerations – thus, what it means to create long-term value through sustainability can be interpreted in widely divergent ways.

Prof. Charlene’s real-world approach to sustainability recognises the importance of the bottom line. “A company can only be a force for good if it is solvent,” she explains. “If the company goes under, it loses the opportunity to make a big difference in the world.”

Prof. Charlene uses the “triple bottom line” as a useful lens to understand how competing parties can make common cause on sustainability. “You need to balance three things,” she explains:

  • Planet – “Doing good and protecting our planet;”
  • People – “We need to take care of the people who work for us;” and
  • Profit – “As much as we care about the planet, you should also care that the company needs to be financially sustainable.”

There’s no contradiction in the “triple P” framework: Prof. Charlene explains that “once you balance people and planet, very often, you can make a profit!” The stats bear this out: a Morgan Stanley survey found that over 80% of companies see potential financial opportunities from their sustainability strategies over the next five years.

 

Fighting the sustainability premium

Despite these encouraging findings, many businesses are reluctant to commit to sustainable practices and products – much less make sustainability a key marketing message. For starters, businesses watching their bottom line are wary about the additional cost required.

“Doing R&D, changing up your production line, or working with different suppliers add to costs, not only in terms of money but in terms of added work,” Prof. Charlene explains.

For their part, consumers do not respond all the same way to a sustainability-centred marketing message. Hype aside, “green products” are still a hard sell as sustainable products are seen as pricier overall. “That is the ‘sustainability premium’,” Prof. Charlene tells us. “Why should I spend more money to pay for them as a consumer?”

The green message hasn’t yet reached everyone; a 2022 Singapore Environment Council (SEC) study found that one in two consumers will avoid choosing products with sustainable packaging if it costs more.

“We cannot assume that all our consumers are sustainability conscious,” Prof. Charlene says. “That’s why the value proposition cannot just be ‘the product is sustainable’.”

 

Marketing beyond the sustainability value proposition

What other value propositions does Prof. Charlene suggest? First, “find an additional value proposition over and beyond sustainability.”

Saying “we’re a net zero product” isn’t compelling enough as a sales message. You need to dig deeper: “Adding a value proposition above and beyond ‘greener’ may help push the products more effectively to consumers,” Prof. Charlene says. “It may not be directly relevant to being green, but relate to properties that consumers still value.”

She cites AlterPacks as an example, a company that makes robust, reusable, and biodegradable food containers made from food waste. Alterpacks’ containers are “actually a lot pricier than what [clients] are using,” Prof. Charlene says. “[Alterpacks CEO Karen Cheah] managed to convince buyers because they are hardier than the usual containers. They are more heat resistant. They are more durable. They can be used several times before they are composted.”

Second: tell a compelling sustainability story. “People are visual – they want to see where their impact is on their purchase,” Prof. Charlene explains.

“For example, some stores tell you that they use ocean plastic in the manufacture of their products. They’ll have a concrete demonstration in-store to show you how much ocean plastics you are using by buying a swimsuit, for example.”

 

Relationships and persuasion to drive sustainable change

A lot of the work in marketing sustainability is understanding how to persuade people: “communicating what sustainability is to them in layman’s terms, and not use too much jargon because people get switched off,” Prof. Charlene says.

Students learn the importance of “converting multiple stakeholders within the organisation to become more green… it’s not just about convincing consumers,” she tells us; future corporate leaders “need to be able to use relationships to convince people why sustainability is the right agenda to pursue.”

This is what Prof. Charlene tries to achieve in her new Marketing Sustainability Class. Persuasion is the foundation of exercises like the change management simulation, where MMS students will apply real world tools used in change management such as conduct town halls, send emails, and organise training sessions to convince various organisational stakeholders to become more sustainable,” she explains.

A multi-stakeholder approach also informs the module’s sustainability communication exercises. “A big challenge in sustainability is how do you communicate to the layman? Nobody is going to pore through all your sustainability reporting,” Prof. Charlene tells us.

In this exercise, students must create content that explains sustainability concepts in a clear, concise, and engaging manner “using graphics, even using influencers and social media to spread bite-size messages in ways that people can understand,” Prof. Charlene explains. “That helps them communicate simply, clearly, and in a way that’s interesting and appealing.”

 

Teaching marketing sustainability for tomorrow’s CMOs

Prof. Charlene will start teaching “Marketing Sustainability” to MMS students in November 2024: “They are going to become marketing leaders in the future, and some of them already have some experience,” Prof. Charlene says.

“I am glad that I am able to be in a position to educate the next level of leadership – I am very privileged to be able to inspire and hopefully train a few CMOs along the way. If they manage to make a positive difference in the world. I’ll be super proud of them.”

 

Find out more about the Master of Science (MSc) in Marketing Science (MMS) here.

 

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Exploring beyond India: Lessons from our Indian Alumni’s Transformative Nanyang MBA Experience

Exploring beyond India: Lessons from our Indian Alumni’s Transformative Nanyang MBA Experience

by | Dec 6, 2024 | Nanyang MBA

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Exploring beyond India: Lessons from our Indian Alumni’s Transformative Nanyang MBA Experience

The only good thing about glass ceilings is that they can be broken. Two of our Indian Nanyang MBA alumni – Pradnya Sabale and Apoorva Jain – have proved this decisively.

Both Pradnya and Apoorva shared a desire to exceed their limits and achieve new heights in their respective careers. They were drawn to Nanyang Business School (NBS) for its prestigious global reputation, strategic Singapore location, and extensive networking opportunities that could help them achieve a career liftoff.

We asked Pradnya and Apoorva to share the Nanyang MBA’s unexpected lessons, and how these learnings have shaped their respective professional and personal growth trajectories.

 

Putting your career on the fast track

Before the Nanyang MBA, Apoorva was working as an information security auditor at a Big Four accounting firm. While the role was complex, “everything was process-oriented with strict rules and no decision-making capabilities,” she explains.

The COVID-19 pandemic hit hard but gave Apoorva space to rethink. “My education and background were purely technical,” she explains. “I wanted to pivot into a management role where I could make my own decisions, gain business knowledge, and influence strategy.”

For her part, Pradnya was working as an R&D engineer at a Japanese semiconductor equipment manufacturing company. “Being the youngest in the department, I felt a glass ceiling, especially as a foreign woman,” she explains. “I knew a management degree would be the fastest way to achieve my career goals.” 

 

Diversity matters for in-depth learning

Pradnya found that NBS – specifically the Nanyang MBA – aligned perfectly with her goals for professional growth and skill enhancement.

Her work on diversity initiatives helped her realise what she had to gain if her class was diverse, and an MBA in Singapore could deliver this better compared to what B-schools in India or Japan could offer. “That was a key factor in my decision – I wanted to experience a different culture,” she explains.

Apoorva, for her part, was won over by NBS’s supportive programme management team. “They were very kind and helpful, which made me feel at ease because I knew there would be someone to guide me and answer my questions patiently,” she recalls.

The alumni were also impressed by NBS’s high rankings and strong international reputation. “I carefully reviewed the programmes of various universities, and NTU’s leadership courses, along with the capstone module, really caught my eye,” Pradnya explains. “Compared to some European universities, I felt NTU’s programme offered exactly what I wanted to learn.”

 

Learning from both theory and practice

Pradnya Sabale

Both Apoorva and Pradnya selected the strategy and innovation track of the Nanyang MBA. Apoorva appreciated its emphasis on practical, real-world knowledge rather than purely theoretical concepts, and Pradnya chose it because the specialisation aligned with her interest in strategy.

The Nanyang MBA prepares participants to “innovate, lead, and transform” through a combination of theoretical depth and practical application. Apooorva and Pradnya undertook modules that demonstrated the Nanyang MBA’s blend of theory and practice.

The Strategic Transformation module appealed to Pradnya’s consultancy experience. “It was taught by a McKinsey veteran who shared his own experience,” she says, adding that she intends to revisit the module’s insights “after two or three years – by then, what he taught will still be relevant.”

Apoorva appreciated the CQ (Cultural Intelligence) module and its lessons on direct and indirect communication. “I learned how to pick up cultural cues and avoid being embarrassed when interacting with people from different backgrounds,” she explains.

Both Apoorva and Pradnya appreciated the Competitive Strategy module’s real-world applicability. “It was taught beautifully, using different examples to explain the competitive landscape,” Pradnya recalls of her experience. Apoorva appreciates how the module demonstrated these companies’ abilities to stay relevant in the market and beat their competition.

 

A safe space to learn vital business lessons

The Nanyang MBA provided Pradnya and Apoorva with a “safe space” to test and refine ideas without the restrictions of a corporate hierarchy. “If you wanted to challenge something, brush up on anything, or even quarrel about a topic, this was the place to do it,” Pradnya recalls. “That environment helped polish our principles and values.”

Apoorva threw herself into NBS’s extracurricular activities. “It was important not to limit my learning to the classroom, but to take advantage of the different opportunities that Nanyang MBA offered,” she explains. “I didn’t want to restrict my learning to what the professors were teaching.”

Throughout her MBA journey, Apoorva served as an NBS brand ambassador and competed in a number of international case competitions. She shares that the former built her confidence in public speaking and networking. The latter was a particularly memorable experience: “Presenting to senior judges, including Big Four partners and CEOs, refined my thought process,” Apoorva shares.

 

A real career game-changer

Apoorva Jain

With the lessons of the Nanyang MBA filling their sails, both Pradnya and Apoorva have been able to advance their careers.

Pradnya was able to pivot from a role as an R&D engineer in Japan to a strategy and management consultant role in India. “Going through the MBA is a transformational journey,” she shares. “Initially, I knew about three career paths after an MBA, but by the time I finished, I knew hundreds.”

Apoorva leveraged her SPAN capstone project experience to secure an internship and subsequent full-time role at Johnson Controls. Later, she transitioned to Marriott Singapore’s Information Security Partnerships team, where her MBA skills now help her drive strategic initiatives and cross-regional collaborations.

“It’s about building partnerships with different Marriott hotels and driving initiatives and programs,” she tells us. “I work with over 800 hotels in the APAC region, driving information security awareness campaigns and leading conferences from an information security perspective.” 

 

Sage advice for Indian MBA aspirants

Pradnya and Apoorva have some advice for other Indian executives who want to follow in their footsteps.

Pradnya cautions Indian students to ditch the mindset that an MBA is mainly for getting a higher salary or changing career direction. “If you come with an open mindset, you’ll come away with a lot of connections,” she advises. “These will help you throughout your career, not just for your first job.”

For applicants from a tech background without prior business knowledge,”An MBA can be a game changer – offering numerous opportunities to hone your skills, develop your personality, and become a better business leader,” Apoorva concludes. “The learning and experience you gain from the Nanyang MBA will be something you cherish throughout your life.” 

Learn more about the Nanyang MBA programme here.

 

Nanyang MBA

The Nanyang MBA is a flexible 12-month or 18-month programme designed to fuel your growth into a future-ready leader equipped with the skills needed to excel in a global, digital environment. The programme aims to develop impactful, culturally adept leaders who embrace the connection between business, technology, and innovation to excel in global environments and adapt to each new wave of digital change.

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The Causeway Connection: How Our Malaysian Nanyang MBA Alumni Achieved Their Career Goals

The Causeway Connection: How Our Malaysian Nanyang MBA Alumni Achieved Their Career Goals

by | Dec 6, 2024 | Nanyang MBA

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The Causeway Connection: How Our Malaysian Nanyang MBA Alumni Achieved Their Career Goals

It’s common to find Malaysians pivoting their careers across the Causeway. But these Malaysian Nanyang MBA alumni – Aaron Ting, Justin Lee, and Terrence Fou – took their cross-border career shifts to new heights.

The Nanyang MBA programme aligned seamlessly with their desires to push beyond their limitations and reach their goals. Aaron, Justin, and Terrence were drawn by Nanyang Business School’s stellar global reputation, strategic location, and networking opportunities; the possibilities that opened up to them post-Nanyang MBA justified their efforts.

We asked them to share how the Nanyang MBA helped them achieve their goals, and what unexpected lessons they picked up along the way.

 

Breaking free of career limitations

Before taking the MBA, Aaron had worked as a financial analyst in the retail industry. The pandemic gave him time to evaluate what he wanted to do next. “I believe an MBA equips individuals to manage diverse talent and work toward a common goal,” he says. “My decision to pursue an MBA was driven by a desire to enhance these skills and advance my career.”

Justin and Terrence both felt limited by their existing roles and saw the MBA as a pathway to positions with increased scope and impact.

Terrence had been working as an R&D scientist specialising in sustainable product development. “I found research in a corporate setting too constraining,” he explains. “I wanted to pivot into a marketing-related career.”

Meanwhile, Justin left the tech consulting industry in early 2019 to pursue a business development (BD) role in the renewable energy space. Unfortunately, his momentum was stymied by the pandemic. “That’s when I sought an MBA to pivot into a business development role within a regional renewal energy company,” he says.

 

Pursuing a world-class MBA programme closer to home

Terrence Fou

For each of them, the Nanyang MBA was the ideal choice, aligning with their personal and professional aspirations.

In Terrence’s case, the decision was straightforward since Nanyang Technological University (NTU) – the home institution of Nanyang Business School – was his alma mater. “I fully trust the quality of the faculty,” he shares. He was also granted an alumni subsidy and a partial scholarship, which he found tremendously helpful.

The Nanyang MBA was a perfect fit for Justin, given its global rankings. The prospect of participating in a class led by Singapore’s top sustainability and energy experts also piqued his interest. “Singapore was a natural choice since I wanted to focus on the ASEAN market,” he explains.

Aaron, too, was attracted to Singapore, but it was the personable and engaging staff at Nanyang Business School that ultimately sealed the deal. “An MBA programme starts with the university setting the tone and culture,” he says. “NTU’s programme admins were willing to go the extra mile to explain the programmes to me and how I could successfully become part of the cohort.”

 

Charting unfamiliar territories to uncover hidden opportunities

For many working professionals, staying in the same role can greatly limit their exposure to new ideas. That’s why many participants benefit from the Nanyang MBA’s broad range of opportunities to widen their professional viewpoint.

Justin Lee

Aaron, for instance, initially wasn’t sure how sustainability would fit into his finance-focused career. To his surprise, he found that the insights in the sustainability track multiplied his career options. “Though this journey hasn’t directly led to a new career, it has significantly broadened my professional network and opened doors to potential job opportunities,” he says.

Terrence had a similar experience with the strategy specialisation track. “The modules exposed us to numerous real-life business case studies,” he shares. “Those intense classroom discussions have helped me see business through a wider lens levelling up my strategic planning and improvisation skills.”

The sustainability track gave Justin access to modules that met his aspirations in the energy space. “I was particularly interested in the class ‘Energy Systems and the Future of Energy’, which was part of the sustainability track,” he explains. “As it was taught by Prof Subodh Gautam Mhaisalkar, who’s the Executive Director of the Energy Research Institute @ Nanyang, I could get insights into Singapore’s energy strategy at a country level.”

 

Enriching the learning experience with capstone modules and extracurricular activities

Beyond the classroom, the Nanyang MBA’s capstone modules and extracurricular activities played a key role in enriching our alumni’s educational journeys.

Strategy Projects at Nanyang (SPAN) gave Terrence a chance to work on an ESG-centred project, in line with his own background. “Our team chose a sustainability-related project on energy management via IoT devices and monitoring,” he explains. “We had great exchanges with the senior management team; we got great feedback and further conversations afterward.”

Justin, for his part, turned to extracurriculars to make the most of his MBA experience. He ran as the Sustainability Club Chair and participated in the Accounting4Sustainability International Case Competition (A4SICC). “I learned a lot about entrepreneurship from A4S,” he notes. “We did a lot of research to back up our financial model and proposal.”

 

Cultivating diverse skills and new perspectives

Aaron Ting

Aaron is quick to debunk misconceptions about what an MBA brings to an individual post-completion. “Many think it makes or breaks getting a specific job or role,” he says. “However, the true value of an MBA lies in the diverse skills and perspectives it cultivates.”

The Nanyang MBA experience draws its lessons not just from professors, but also from fellow cohorts. “The perspectives you can potentially gain from your peers carry a lot of weight,” he explains. “They can broaden your views in the workforce and how it can be translated into your personal life.”

That’s why he appreciates how the Nanyang MBA opens doors to a wider network of connections. “It’s about the genuine relationships you form with like-minded individuals – professionals who have the same passion and drive,” he explains. “It all boils down to how one approaches and takes away from these relationships in a meaningful manner.”

 

Getting ready for the real world with a Nanyang MBA

These alumni not only achieved the goals they set out to pursue, but also gained unique takeaways from their Nanyang MBA journeys that served them well in furthering their careers.

Aspiring Nanyang MBA candidates from Malaysia and beyond can follow in Aaron, Justin, and Terrence’s footsteps, becoming culturally aware, impactful leaders who understand the synergy between business, technology, and innovation and are empowered to thrive in international environments.

Learn more about the Nanyang MBA programme here.

 

Nanyang MBA

The Nanyang MBA is a flexible 12-month or 18-month programme designed to fuel your growth into a future-ready leader equipped with the skills needed to excel in a global, digital environment. The programme aims to develop impactful, culturally adept leaders who embrace the connection between business, technology, and innovation to excel in global environments and adapt to each new wave of digital change.

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Insights from 3 ASEAN Development Scholarship Recipients on Navigating Graduate School

Insights from 3 ASEAN Development Scholarship Recipients on Navigating Graduate School

by | Dec 6, 2024 | MSc Business Analytics

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In any industry today, data holds the key to making smarter decisions. Those with data analytics skills are able to unlock insights that drive business success – and open doors to career growth in the process.

For three ambitious professionals, an MSc in Business Analytics (MSBA) from Nanyang Technological University (NTU) is taking their careers to new heights. As recipients of the ASEAN Development Scholarship – a post-graduate scholarship open to citizens of ASEAN countries outside Singapore – they receive the support and resources they need to transform their skill sets. Each scholarship award covers either 100% or 40% of tuition fees.

Here, our three ASEAN Scholars share how they are making the most of their MSBA journey, and how their time at NTU is helping them achieve their career ambitions.

 

Jacqueline Ong – Working hard, playing harder

Even as a Computer Science undergraduate in Minnesota, Jacqueline Ong had already caught an exciting glimpse of student life at NTU.

“NTU has a solid exchange programme with my alma mater and I had bonded with many NTU exchange students,” she recalled. “The school sounded academically rigorous as well as exciting, so it was at the top of my list when I decided to apply for graduate school.”

After three years as a software developer, Jacqueline decided she was ready to explore a different role in technology. “I wanted to understand the metrics and factors that drive businesses, and an MSBA would reshape my skill set,” she explained. “I was eager to catch up with industry trends and learn more about big data, machine learning, and strategy.”

Three months into the programme, Jacqueline foresees that her newfound ability to interpret data within a business context will not only help her build data-driven solutions, but also work better in an interdisciplinary team. “The MSBA is equipping me to do the technical work that’s needed while communicating fluently with different stakeholders,” she said.

As an ASEAN Development Scholar, she has taken full advantage of the resources at her fingertips to accelerate her professional growth – from career workshops to data competitions.

“Being part of the scholarship programme has connected me with a diverse network of scholars, brand ambassadors, and even potential students,” she shared. “These valuable relationships open up opportunities for collaboration and motivate me to do better.”

But life as a scholar isn’t all work and no play. The NTU campus is buzzing with clubs and events, and Jacqueline makes it a habit to stay up-to-date through her school emails.

“My biggest passion is dancing and last month, I auditioned into NTU MJ – our school’s dance crew that’s well-known in the local dance scene!” she said. “Through our weekly sessions, I’ve bonded with other students and trained with amazing choreographers who have all helped me feel grounded in my community.”

In fact, some of her favourite memories in NTU so far have come from spontaneously joining events – such as the university’s official DJ night to welcome new participants at Gaia.

“It was a very impressive event where we danced the night away, singing our hearts out and waving our phones in a sea of glittering flashlights,” Jacqueline recalled. “It’s true what they say of a Master’s student: work hard, play hard!” 

 

Jason Patrick – Enhancing technical skills with hands-on learning

As a Senior Technology Consultant with EY Indonesia, Jason Patrick helped businesses to build IT strategic plans and spur their digital transformation. In the course of his work, he noticed that many clients struggled to make strategic decisions due to a lack of data analytics expertise.

“Not only do data analytics skills enhance decision-making and drive profitability, they can also contribute to improving society,” he said. “I decided to pursue an MSBA to learn how to create robust analytics strategies.”

Jason aspired to continue on his career path as a consultant specialising in data and analytics strategy. So he sought a programme with a strong emphasis on practical application. NTU’s MSBA programme, with its hands-on projects and data analytics practicum, fit the bill perfectly.

“The MSBA provided an opportunity to enhance my technical knowledge through hands-on learning,” he explained. “It would equip me with the skills to implement the right technologies and solutions that would assist clients in decision-making.”

Clinching the ASEAN Development Scholarship was the icing on the cake, giving him the confidence boost he needed to pursue professional growth. “Being a scholar has raised my confidence in my potential and abilities,” he revealed. “It further motivates me to excel in my career.”

This extra dose of confidence now serves Jason well as he tackles new challenges in his MSBA journey. He shares that he’s faced a steep learning curve in mastering new technical skills, such as Python programming and data visualisation.

“I’m navigating these challenges by staying focused and taking it one step at a time,” he said. “For subjects I’m unclear about, I schedule time for extra exploration to understand them better.”

For future MSBA participants, Jason’s top tip for success is to be unafraid of asking questions. “NTU has plenty of resources to help you make the most of the MSBA experience, so don’t hesitate to ask when you’re confused,” he advised. “I’m very grateful that the professors, the graduate team, and my course mates are all very open to clarifying any questions I have.” 

Phuong Anh Nguyen Hoang – Tapping into the power of collaboration

Every day, vast amounts of customer and sales data are generated on e-commerce sites globally. For e-commerce planners like Phuong Anh Nguyen Hoang, the key to success lies in turning these numbers into insights. After three years on the job, she felt she needed to deepen her data analytics knowledge.

“I became increasingly interested in how analytics can enhance customer experiences and operational efficiency,” she recalled. She hoped to develop a career in data analytics within the e-commerce sector and she saw that an MSBA would open doors for her.

“The MSBA programme at NTU stood out to me because it focused on real-world applications and industry-relevant tools,” she shared. “This combination is crucial for me to tackle complex business challenges.”

Winning the ASEAN Development Scholarship enabled Phuong Anh to focus on her studies, giving her the resources to chase her career goals. “I’m so grateful for the technical skills I’ve gained, particularly in data analysis and statistical methods,” she said. “This foundational knowledge has empowered me to approach business problems with confidence.”

Beyond the technical skills, it’s the collaborative learning and sense of community that Phuong Anh cherishes the most. Through the MSBA’s many group projects and class discussions, she has picked up new perspectives and gained a better grasp of difficult concepts.

“Collaboration enhances learning, so actively engage in class discussions and group projects to maximise your MSBA experience,” is her advice to future participants. “I’ve learnt the importance of teamwork when solving complex issues.”

Besides building connections with her peers, Phuong Anh is proactive about growing her industry network as well. NTU’s regular networking events and career workshops offer rich opportunities to do just that.

“Don’t hesitate to take advantage of such events; they have been invaluable in helping me connect with industry professionals while significantly improving my communication skills,” she advised. “I believe these connections will play a crucial role in my future career.”

 

Maximise your career potential with the MSBA

Like Jacqueline, Jason, and Phuong Anh, you can take your career to the next level by mastering business analytics skills. As data reshapes industries, an MSBA prepares you to deliver useful insights and stay on the cutting edge of business transformation.

Learn more about the MSc Business Analytics programme here, and find out how the ASEAN Development Scholarship can support your journey.

 

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