Cartier’s special limited-edition Baignoire Allongée to celebrate Cortina Watch’s golden jubilee
TUESDAY, NOVEMBER 22, 2022
Baignoire Allongée MM Cortina Watch Golden Jubilee Edition, designed by Cartier, honours the relationship and shared values of these two companies. This watch, available in only 10 pieces, features a “50” exploded Arabic numeral instead of “5” in burgundy as well as rose-gold sword shaped hands.
Cortina Watch, one of Singapore’s top brands in the watch retail sector, will unveil a series of limited-edition commemorative watches in conjunction with some of the industry’s most recognized watchmakers to commemorate its golden jubilee in 2022. On November 4th, Cartier will unveil a special 10-piece limited-edition Baignoire Allongée to celebrate the watch retailer’s golden jubilee.
Since the mid-19th century, Cartier has been at the forefront of creativity and innovation, and in many instances, a trailblazer in the world of jewellery and watchmaking. Through a local agent, Cortina Watch began selling Cartier’s creations in the late 1970s, where its jewellery timepieces were very sought after. From the debut of Jewellery Time, Cortina Watch’s flagship high jewellery watchmaking exhibition in 2000, Cartier has been a frequent collaborator of the event. Mr Jeremy Lim, CEO of Cortina Watch, says, “Cartier is one of the most iconic watchmaking and jewellery houses in the world, and it has been a genuine privilege to have been a part of their illustrious history, and to have shared such a close partnership throughout our years in the industry. Cortina Watch is thrilled to present the special edition timepiece that Cartier has created for this monumental year, and we look forward to stepping into the future with Cartier and continue to reach milestones together, especially with the upcoming collaboration at our updated retail space.”
Cécile Naour, CEO of Cartier Southeast Asia & Oceania, congratulated Cortina Watch on this milestone – “Cartier has journeyed with Cortina Watch for a few decades, with many amazing achievements. From collaborating on the Jewellery Time series launched in 2000, expanding our luxury retail watchmaking presence in Singapore, pioneering a partnership in Malaysia, to developing a professional watch-passionate team. In another milestone, Cortina Watch Raffles City will soon be welcoming clients in a renovated Cartier retail environment. Here’s to a memorable 50th anniversary, Cortina Watch, and to many more years of success.”
Baignoire Allongée MM Cortina Watch Golden Jubilee Edition
The evocatively named Baignoire is a cult Cartier object. The story begins in 1912, when Louis Cartier took the traditional round watch shape and elongated it. His stylistic research culminated in two straight, parallel lines joined by two curves, which formed the shape of a bathtub (baignoire in French) – hence its name.
The 1960s marked a second highlight in the history of the Baignoire watch. Swaying to the beat of “Swinging London”, the Baignoire Allongée saw the light of day in the workshops of Cartier London. The Baignoire Allongée was an oversized watch that stretched across women’s wrists, combining excessive chic with supreme simplicity. This definitive watch exudes style and character while hugging the contours of the wrist.
In 2019, the Maison relaunched the Baignoire and Baignoire Allongée. Like a fixation, the Baignoire watch brings forth new desires, such as the yearning to give its exuberant elegance texture and relief. Adding substance and texture to this extraordinary elegance, as daring design creates an extravagant bezel.
For the 50th anniversary of Cortina Watch, Cartier has created an exclusive edition of the emblematic Baignoire Allongée. The case is crafted in pink gold, with matching sword-shaped hands and ardillon buckle. On the opaline dial are brown Arabic numerals with ‘50’ highlighted in red, in place of ‘5’. The bezel and crown are set with diamonds, and on the back case is an engraving of the words “Cortina Watch Golden Jubilee”, marking this joyous occasion.
Organon continues to drive equality and empower women globally with Her Promise, Our Purpose campaign and new mural
TUESDAY, NOVEMBER 22, 2022
Ambassador Robert F. Godec, U.S. Ambassador in Thailand (center), Assoc. Prof. Dr. Tavida Kamolvej, Deputy Governor of Bangkok (third from right), and a delegation from Organon (Thailand) led by Mr. Koen C. Kruijtbosch, Managing Director of Organon (Thailand) Ltd. (third from left), attended the event to honor all parties for the Her Promise, Our Purpose campaign.
Organon (Thailand) Co., Ltd., a leading pharmaceutical company for women’s health, today continued its commitment to empower women globally with the launch of a new artwork as part of the “Her Promise, Our Purpose” campaign. The campaign, held in countries such as the United States, Mexico, the United Kingdom, Indonesia, Brazil, and now Thailand, commissions murals in each market to reflect the unique perspectives of its local artist, unified by the common goal of addressing the unfulfilled health needs of women around the world.
For Thailand, Organon partnered with the Embassy of the United States in Thailand, Ministry of Public Health, Bangkok Metropolitan Administration, and UN Women to create an artwork under the theme “We are Tomorrow” featuring on the wall of the U.S. Embassy and Consulate in Bangkok, Thailand.
The mural was designed and painted by the well known female artist of Thai descent Ms. Amanda Phingbodhipakkiya, as well as U.S. Ambassador Robert F. Godec; Bangkok Governor Dr. Chadchart Sittipunt; Ms. Siriporn Rathee from UN Women; Ms. Patima Hirisajja from Department of Health, Ministry of Public Health, and Mr. Koen C. Kruijtbosch, Managing Director of Organon (Thailand) Co., Ltd. Students from Suan Lumphini School and the BMA Governor’s son Mr. Sanpiti Sittipunt also participated in its creation.
“We are Tomorrow” is a mural project under Organon’s campaign Her Promise, Our Purpose, which aims to inspire women around the world through collaborations with local artists through paintings on the walls.
Mr. Koen C. Kruijtbosch, Managing Director of Organon (Thailand) Co. Ltd., said, “Paintings are a powerful medium for raising awareness and driving social change. We want to create more awareness regarding women’s health issues and promote cooperation across many sectors, particularly for access to birth control and family planning. Women should have the choice to make an informed decision about their “planned pregnancy” to reduce “unintended pregnancies,” which is a great concern in society. Organon is committed to working with all sectors to support access to contraception, as well as sharing useful knowledge and information to 100 million women in low-to-middle-income countries – encompassing more than 70 countries around the world by 2030. If this can be achieved, we can prevent 120 million unintended pregnancies, 2.1 million infant deaths, and over 250,000 deaths from pregnancy.”
Ms. Amanda Phingbodhipakkiya shared that “This artwork depicts brave women and LGBTQ communities, looking at the horizon with bright, sparkling eyes. They are creating a new space, an avenue to work for a brighter future together, amidst blossoming flowers and a clear sky full of hope. This mural was inspired by conversations with artists, women, and LGBT youth, who discussed the meaning of perseverance for independent authority, changes, safety, knowledge, respect, and social involvement. These are what we want for Thai women. This mural conveys this vision for Thai society, which everyone can appreciate and support.”
The mural “We are Tomorrow” was completed on November 12, 2022. To celebrate this commitment to women, Organon, together with the Embassy of the United States in Thailand, organized an event to thank all parties involved in the campaign at the U.S. Embassy and Consulate in Thailand. The event was honored by the presence of U.S. Ambassador to Thailand Robert F. Godec; Assoc. Prof. Dr. Tavida Kamolvej, Deputy Governor of Bangkok, and Mr. Koen C. Kruijtbosch, Managing Director of Organon (Thailand) Co. Ltd. Organon also displayed the artwork “We are Tomorrow” to the world at the International Conference on Family Planning (ICFP) 2022, held on 14-17 November 2022 at the Peach International Convention Center, Chonburi, to increase awareness of the Her Promise, Our Purpose campaign.
Dtac business Launches a 5G Mobile Private Network Built on AWS to Drive Digital Transformation for Thai Businesses
TUESDAY, NOVEMBER 22, 2022
New 5G MPN services can help retailers, manufacturers and logistics players improve supply chain automation
dtac business launched a 5G Mobile Private Network (5G MPN) today with an aim to transform supply chains for Thai businesses, including those in the retail, manufacturing and logistics industries as they transition into “Industry 4.0“
Industry 4.0—also known as the Smart Factory—refers to the incorporation of advanced technologies such as Internet of Things (IoT), machine learning (ML), cloud and edge computing, smart sensors, and more into industrial production processes. 5G MPN is the glue that connects all devices that contribute to supply chain automation operated by real-time big data processing.
dtac business’ 5G MPN is ready to support businesses in their digital transformation and drive efficiency in their operations. Built on Amazon Web Services (AWS), the 5G MPN is equipped with three core solutions at the edge: IoT, Artificial Intelligence (AI), and ML. The 5G MPN is a dedicated 5G core system using a private 5G core designed for optimized integration with edge computing using dtac’s 26GHz spectrum on 5G connectivity, along with local core systems for data processing. This combination offers high reliability, low latency, and superior security.
Sadat Ibne Zaman, Chief Business Officer, Total Access Communication PLC or dtac, said, “The COVID-19 pandemic has transformed Thai retailers and logistics industries. 5G MPN can help businesses realize the efficiencies and cost savings of Industry 4.0 by helping warehouses and distribution centers quickly adapt to changes. With the scalability and flexibility of cloud computing solutions, we can easily enable our customers to adopt advanced technologies, such as IoT and automation with robotics, to meet digital transformation demands and boost Thai businesses’ competitive advantage.”
dtac business used AWS, the world’s most comprehensive and broadly adopted cloud platform, to design and offer three digital solutions for the Thai market:
Robotics Automation – a solution to automate warehouse and distribution facilities with robots handling the goods connected to 5G MPN. The automated warehouse and distribution facilities can significantly improve efficiency and accuracy while minimizing injury risks for human workers.
Predictive Maintenance – this solution features machine learning connected to 5G MPN to detect errors in warehousing and distribution equipment, as well as providing predictive maintenance for the entire process. The solution uses Monitron sensors connected to 5G MPN in a Massive IoT configuration to monitor the vibration and/ or temperature of the equipment. Data from all connected equipment is centrally processed at a control center using machine learning that can alert operators in case of any errors for preventative maintenance to prevent unwanted downtime.
Video Analytics – smart video cameras connected to 5G MPN can assist in warehousing management in various applications, such as intrusion detection, which are especially beneficial for high-value assets. Real-time monitoring can enhance security and minimize incidents and loss. AWS provides the 5G edge infrastructure for independent software vendors to run their video analytics software.
Vatsun Thirapatarapong, Country Manager, Thailand, AWS, said, “Digital transformation and Industry 4.0, powered by private 5G, can aid businesses in boosting their competitive advantages and economic recovery efforts. With the Thai economy predicted to fully recover from the pandemic, there may be an opportunity for businesses to double down on digitalization and boost their competitive advantage. Powered by AWS, dtac business is building secure and scalable software-driven networks that can enable businesses to simplify operations, and reinvent the customer experience to accelerate innovation that can unlock economic growth.”
Discover unique dining experience at ONESIAM with a myriad of 10 new world-famous restaurants
TUESDAY, NOVEMBER 22, 2022
ONESIAM a synergy of global destinations including Siam Paragon, Siam Center, and Siam Discovery, delivers an enticing dining experience with a myriad of dining options and an appealing introduction of over 10 new world-famous restaurants. ONESIAM is recognized as leading world-class dining destination and as a top-of-mind destination for locals and international visitors.
Siam Paragon, the ‘World Class Food Destination,’ features a dining haven at Gourmet Garden Zone on G floor. As one of the most-sought after location for leading restaurants operators, dining experience at Siam Paragon is a true delight. Siam Paragon is introducing a number of brand-new premium restaurants, staring with premium Japanese sukiyaki and shabu shabu at Nabezo Premium. Originated in Japan, the restaurant offer its Premium line exclusively in Thailand. On offer are top quality A5 Grade Omi-Gyu Beef, X-Wagyu Beef (Japanese F1 Beef), Buri fish, and Kurobuta pork to enjoy with the taste of uniquely authentic Japanese hot pot. Straight down from London to Siam Paragon is Burger & Lobster. This world-famous restaurant and one of the most sough-after eateries in London makes the most out of their prime quality ingredients, serving fresh and delicious lobster menus like Canadian Lobsters, Lobster Rolls and varieties of satisfying premium burgers like Beef Burger.
Premium Korean BBQ restaurant Maple Tree House will soon open its first Bangkok outpost Maple Tree House BKK at Siam Paragon, G floor. The restaurant offers traditional Korean BBQ experience, a Samgyupsal style, with superb quality menus in a contemporary setting. The dining zone on 4 Floor will indulge food lovers with new all-you-can-eat restaurants. Oishi Grand offers a wide selection of Japanese dishes made from selected quality ingredients in an elevated all-you-can-eat style. Customers will enjoy, sashimi and sushi imported from top fish market, made fresh for each serving. In addition, experience the first and only ‘Fine Dining Buffet’ exclusively at Siam Paragon at “Wisdom International Buffet,” the Crown Buffet 9,999++” offers wide selections of international menus with top quality ingredients sourced from across the globe.
Siam Center now brings together popular eateries to its new Vibrant Eatery Avenue on 2 floor, ranging from spicy papaya salad or Som Tam to Taiwanese dessert café. TumTum offers tempting hot and spicy North-Eastern Thai menus like Som Tam or papaya salad while Plern Pung serves choices of casual but delicious Thai dishes ranging from rice menus to noodles.
“La Meow” is a Hunan Sichuan-style Chinese restaurant by IRON CHEF THAILAND Chef Feng Jun who creates magic in every dish. Whether it’s stir-fried mala, mala soup, fried chicken with Sichuan peppers, stir-fried beef with pickled chili, beer-boiled fish, or braised pork belly in Hunan red sauce, these all are not-to-be-missed dishes. Level down the spiciness with some sweet desserts from Switzerland “Ronnies Macaron.” Find flourless macarons made with premium-grade almonds blended in perfect proportions, giving a unique fragrance and signature chewy texture. The colorful macarons come with light cream filling that adds a perfect level of slight sweetness to their flavor, best to enjoy with a cup of hot tea or coffee. Cafe hopper will love the dessert menu from “ERR” (Er), a chic Taiwanese-style cafe serving refreshing and delectable Bingsu and Baoping. Featured also are Fire Dragon Taiwan tea, peanut butter tea, or the first nitro cold brew drink in Thailand — all brought to serve delight satisfaction at Siam Center.
Experience deliciousness and exquisite dining from world-famous and most popular restaurants at ONESIAM and enjoy special dining promotions at Siam Paragon, Siam Center, and Siam Discovery. Get a Siam Gift Card worth 100 Baht for a minimum of 800 Baht spent, (limited quota) from today until 27 November 2022. For further information, log on to Facebook: ONESIAM, Application: ONESIAM SuperApp, Tel. 02-610-8000.
Dow joins forces with Chulalongkorn to enhance Engineering Curriculum to meet industrial demand
MONDAY, NOVEMBER 21, 2022
Bangkok, November 18, 2022 – Dow Thailand Group and the Faculty of Engineering at Chulalongkorn University have signed an academic MOU to elevate the university’s curriculum through knowledge sharing from Dow experts; upskilling the chemical engineering curriculum to meet Thai industrial demand and allow students to compete in the global industrial sector.
Dow is a leading global Materials Science company, developing and producing a broad range of differentiated, science-based products and solutions such as plastics, industrial chemicals, coatings, and silicones for its customers in high-growth market segments, such as packaging, mobility (especially EV cars), infrastructure, and consumer applications. Dow has operated in the field for over 125 years, with 104 manufacturing sites in 31 countries and distributors in 150 countries.
As experts in Materials Science, Dow is increasingly involved in curriculum development strategies for students that help upskill them to meet the needs of the market. One role is providing experts to be special lecturers for the Engineering Practice branch of the Master’s program in Chemical Engineering at Chulalongkorn University. This collaboration integrates expertise into the course content, along with providing research that supports efficient Thai manufacturing. Through this cooperation, Dow is not only giving an opportunity to students to learn directly from industry experts, but also supports scholarships and presents openings for students to work at Dow after they graduate.
Decha Panichayapichet, Site Director, Dow Thailand Group, said, “Dow Thailand is currently the largest manufacturing base of Dow in Asia-Pacific. We have the knowledge and expertise to standardize our safety and environmental controls. Because our operations are internationally recognized, we are assured that we can pass on world-class knowledge and modern technology to young generations, Thai communities, and Thai scientists. This is the commitment Dow has made over decades. On this occasion, it is our pleasure to announce our cooperation with the Faculty of Engineering, Chulalongkorn University to create skilled Thai chemical engineers before they enter the labor market; a new generation that will be an important force in developing our country on the path of sustainable progress.”
“This collaboration between the Faculty of Engineering and Dow Thailand Group is a good opportunity to encourage the quality of the engineering sector in Thailand now and into the future. I believe it is also a benefit for students to learn directly from the entrepreneur who is the world’s leader in Materials Science,” said Prof. Dr. Supot Teachavorasinskun, Dean of the Faculty of Engineering at Chulalongkorn University. “We anticipate this collaboration will improve students’ holistic development, since they can learn from experiences that cannot be found in a regular classroom. This is a great opportunity for Dow to contribute to educational success and help ready graduates to be a qualified workforce for the future.”
To learn more, or to apply to the Chemical Engineering and Applied Industrial courses, please click https://chem.eng.chula.ac.th/
How Jubilee Diamond is using personal digital touch to sparkle in economic gloom
TUESDAY, NOVEMBER 22, 2022
Nongluck Ajanapanya
Thailand’s near century-old jewellery brand is celebrating sparkling success after wedding tradition with digitization’s personal touch.
Unyarat Pornprakit, CEO of SET-listed Jubilee Enterprise, the mother company of Thailand’s leading jewellery brand Jubilee Diamond, told a press conference on Monday that data combined with artificial intelligence (AI) is helping the company meet the individual needs of clients.
“It assists our designers and marketing teams in predicting what type of design they prefer or which promotion we should use for each customer segment,” Unyarat explained.
She also highlighted the importance of data digitization, stating that it allowed her brands to respond quickly during crises like the Covid-19 pandemic.
After closing all nationwide stores and counters in 2020, Jubilee launched its online channel within five days.
Currently, data digitalization is sustaining the growth of Jubilee Diamond, Unyarat revealed. The internet is now the main platform for engagement with customers.
“We now know in real time whether or not customers are satisfied with our products and services. If not, we are alerted and can correct it quickly,” she said.
The CEO explained that the personal touch is powered by systematic data collection, which is being expanded via advanced technologies such as artificial intelligence (AI) and Net Promoter Score (NPS), a tool that measures customer satisfaction after using services or products. World-class brands use NPS as a business management standard.
The CEO said the results of the analysis have been very satisfying, especially when used in marketing activities and product development.
For instance, it has driven up repeat purchases among Jubilee Diamond’s membership programme, which currently accounts for 55% of total revenue.
Under advanced data digitalisation, the programme has been rebranded “The Sparkling Club”, offering a whole new level of benefits.
Jubilee Diamond now has a new member base that accounts for 60% of its total 200,000-plus members. The company expects to add 20,000 new customers this year and 30,000 in the following years.
Unyarat also revealed that by the end of this year, Jubilee Diamond will have 130 branches nationwide, with 6-8 new flagship stores and counters opening in 2023.
She dismissed the idea that inflation and looming economic recession would affect her business, stating that diamonds are always in demand and that data digitisation allows her to target market segments accurately and quickly.
“The brand is growing 5-7% per year on average,” she said.
Jubilee Diamond has been innovating in the jewellery trade for more than 93 years, making it the top jewellery company in Thailand. It is also the only diamond jewellery retailer listed on the Stock Exchange of Thailand.
SEC suspends all operations of broker Asia Wealth Securities
TUESDAY, NOVEMBER 22, 2022
The Securities and Exchange Commission (SEC) suspended all operations of brokerage firm Asia Wealth Securities (AWS) after its net capital was recorded at below zero for more than five days.
The company blamed this on the More Return Plc (MORE)’s trading debacle.
The SEC announced on Tuesday that it has also ordered AWS to transfer its clients’ assets to other brokers immediately.
The SEC said AWS’s capital had stayed at below zero since November 14 and it had failed to take proper action as required by the law, like cancelling all advance selling and purchasing orders placed by clients.
The commission also accused AWS of failing to inform its clients and transferring their accounts to other brokers as required by law.
Meanwhile, Asia Wealth Securities explained on its website that its stock broking rights had been suspended on November 18 because it had been hit by default orders to buy MORE shares.
The Anti-Money Laundering Office and police said major shareholder, Apimuk Bamrungwong, and 24 alleged accomplices, had issued a purchase order for 1.5 billion MORE shares in a supposed move to manipulate share prices. However, they defaulted on the payment, causing severe damage to brokers handling the orders.
AWS has apologised for the inconvenience caused and said it always complied with SEC regulations and would try to solve the issue as soon as possible.
AWS clients can call the SEC 1207 hotline and press 7 to file complaints against the broker or they can e-mail info@sec.or.th.
Amlo freezes THB5.3bn in assets of alleged MORE stock manipulator
TUESDAY, NOVEMBER 22, 2022
The Anti-Money Laundering Office (Amlo) has frozen 5.3 billion baht in assets belonging to the fourth-largest shareholder in More Return Plc (MORE) and his associates over suspicion they manipulated the share price.
Amlo said it froze the assets of Apimuk Bamrungwong and 24 other suspects and is seeking legal action against them over alleged money laundering.
The Stock Exchange of Thailand (SET) last week suspended trading in MORE stock at the request of brokers after a major buyer defaulted on payment for 1.5 billion shares worth 4.4 billion baht.
An investigation then found that Apimuk and 24 of his alleged accomplices had lodged purchase orders with their broker to buy 1.5 billion shares at 2.90 baht on November 10 – after the MORE stock closed at 2.79 baht on November 9.
Amlo took action after receiving the Central Investigation Bureau (CIB) report on the deal dated November 20 (Sunday).
The CIB launched its investigation after representatives of 11 security brokerages met with the Economic Crime Suppression Division on Wednesday, seeking a probe of Apimuk and MORE.
According to the SET, irregularities were spotted on November 10 when trading in MORE stocks rose to more than 7.14 billion baht – the highest in both the SET and MAI (Market for Alternative Investment) – while the share value plummeted from 2.9 baht to 1.95 baht, shocking investors.
Amlo said the 25 suspects have no family connection but their purchase orders shared the same Internet Protocol (IP) address as the IP address of Apimuk.
Amlo alleged that Apimuk and his associates did not really intend to buy the MORE shares but were instead manipulating the share price to profit from the margin.
On Monday, the SET removed the suspension on MORE stock trading, which resulted in the price plummeting another 29.93% to close the day at 0.96 baht. Trade volume in the stock on Monday hit 8.5 million baht.
SET president Pakorn Peetathawatchai said the resumption of trading in MORE stock would not affect the system as the SET has anticipated all possible impacts by running a computer simulation. He said the affected brokers would still be able to conduct their business as normal.
How business schools are gearing up to create future global business leaders
TUESDAY, NOVEMBER 22, 2022
Vitaya Saeng-Aroon
Top-notch local and international business schools gathered in Bangkok recently to examine their responsibilities and future in light of growing pressure to create the next generation of business leaders.
Since the focus nowadays is not just on making profits, but also on caring for people and protecting the planet, we wanted to know how they tackled these challenges.
“I don’t think most of them have the answer. In higher education, there are new challenges. Business managers now go back to school, and they need a new skill set to make societal changes,” said Caryn Beck-Dudley, president and CEO of the Association of Advance Collegiate Schools of Business (AACSB) in an interview with The Nation.
While working as dean of the Leavey School of Businessat Santa Clara University as well as the College of Business at Florida State University and the Jon M Huntsman School of Business at Utah State University, Beck-Dudley identified the persistent demands of enterprises and challenges faced by business schools in producing future leaders.
So what qualities should future leaders have to successfully run businesses?
“Historically, they were taught to make profits. That cannot be the goal anymore. They have to make societal impacts as well. Business leaders should have these new skill sets: compassion, empathy, and depolarisation, which is the ability to deal with conflicts,” she said.
In addition, she said, business schools should collaborate more across disciplines. From her experience and observation, business schools are well behind other disciplines like law, engineering, medicine, and architecture in getting connected to industry.
“It has become apparent, following the pandemic, that we are globally connected. The world has difficult and complex problems. To solve these problems, [we] require a whole bunch of people to work in a whole bunch of ways,” she said.
AACSB is a non-profit organisation, providing quality assurance, business education intelligence, and learning and development services to over 1,850 member organisations and more than 950 accredited business schools worldwide. AACSB’s accreditation processes are ISO 9001:2015 certified.
At the annual two-day Asia Pacific Annual Conference, held recently at Samyan Mitrtown in Bangkok, participants were provided with networking opportunities and stages to discuss a variety of topics, ranging from the classroom in the post-Covid era; application of technology and innovation; integrating diversity, equity, inclusion and belonging; and supporting changes in the faculty’s role, both in terms of research and teaching.
Geoff Perry, executive vice president and Chief Officer: Asia Pacific at AACSB International
“The purpose of the conference is to bring together business schools around Asia-Pacific to share and analyse challenges and trends in business education. We also talked about details around credentials. We support networking,” said Geoff Perry, executive vice president, and chief officer for Asia Pacific at AACSB International.
One challenge for business schools is that the pandemic has accelerated online learning. There are growing concerns about how teachers now engage students in learning, he said.
“Business schools should be more ‘purposeful’ to differentiate themselves and that’s what students are looking for. Students tend to have more interest in companies with a bigger purpose,” he said.
In April 2022, the organisation released an insight report titled “Five Forces Driving the Future of Business Education”. The 25-page paper points out how business schools should adjust to the changing landscape of the market’s demand by lining up five areas of development.
1. Commit to a positive societal impact The new generation of learners is rethinking what business education could – and should – be as customers and employees to push businesses into prioritising their purposes.
While many business schools are enmeshed in structures that impede them from increasing societal impact, they are called to generate good change in the communities they serve. The development of the information, abilities and behaviours necessary for future leaders with societal effect will require educators and administrators to think strategically about how they might generate research with impact.
Suggested action: Encourage the faculty to explicitly address societal effects in their research, teaching and outreach in a way that is consistent with your institution’s mission, values, and impact goals by increasing incentives and success indicators.
A session on AACSB: Asia Pacific Annual Conference: Lessons on Hybrid Pedagogy
2. Embed principles of DEIB (diversity, equity, inclusion, and belonging) into organisational culture and strategic planning Business schools should incorporate DEIB into all aspects of their operations, from faculty hiring to programme development to student enrolment, to fostering inclusive and fair work cultures that advance their goals, values and the communities they serve. To improve standards, business schools should encourage DEIB among their students, teachers, and staff, much as corporations seek workplace diversity.
Suggested action: Examine your strategy for enhancing DEIB by identifying shortcomings or potential improvements. Invite your co-workers to do the same, and after getting input from various stakeholders, create a micro-strategic plan to handle DEIB.
3. Evaluate existing partnerships and create new ones to ensure the business school is solution-driven and relevant to the learner and industry needs To maintain objective alignment and market distinction, business schools must evaluate how collaborations will affect every aspect of the institution, from curriculum development and educational delivery to research and outreach programmes.
Successful partnership necessitates a deliberate strategy, such as prioritising cross-disciplinary cooperation to address difficult problems or utilising education technology providers’ experience to enhance educational delivery.
Suggested action: Analyse present alliances critically, making sure they support strategic objectives. Are you in agreement on concrete initiatives or are you just checking boxes? Check the relationship’s worth versus organisational goals to see if the effort is paying off.
A session on AACSB: Asia Pacific Annual Conference: Transforming the Face of Higher Education Through Innovations.
4. Strategically invest in technology that serves diverse learners’ needs and addresses the educational demands of the future All forms of learning are now accepted, and business schools are required to provide for them. Both online and in-person learning will benefit from technological advancements, for example, immersive platforms to increase distance learners’ engagement or AI-enabled tests to measure each learner’s skill attainment specifically. Business schools will need to catch up with developing technologies, such as decentralised finance, or DeFi, in their curricula and learning experiences as the future ushers in a workforce that is driven by technology.
Suggested action: Examine the learners’ experience for chances to produce more individualised and experiential learning. Keep up with industry best practices as the business IT landscape changes and create curricula that support the future workforce. They may use cutting-edge technologies, such as decentralised finance (DeFi), in their curricula and educational activities.
5. Equip faculty for success as their roles expand to meet new expectations The faculty will need to adjust to technology and hybrid models that are essential to the success of their school in addition to taking on new, demanding duties. Faculty now serve as mentors, facilitators, and counsellors in addition to teaching and conducting their own research, which necessitates that business schools support faculty in a variety of ways, enable the sharing of best practices, and recognise creative online teaching initiatives.
Suggested action: Determine whether faculty members in your institution have the essential skills required to achieve the objectives and deliver results by reviewing their portfolios. If not, think about recruiting a more diverse pool of faculty and determine which areas require more support and training to guarantee effective delivery across a range of delivery modalities.
PTTEP agrees to pay Indonesian seaweed farmers $129 million over 2009 oil spill
MONDAY, NOVEMBER 21, 2022
PTT Exploration and Production Plc (PTTEP)’s subsidiary PTTEP Australasia (PTTEPAA) has come to an out-of-court settlement with Indonesian seaweed farmers and will pay US$129 million in compensation.
The oil spill and subsequent slick took place when the Montara wellhead platform in the Timor Sea had a blowout on August 21, 2009. The leak off the northern coast of Western Australia could only be plugged on November 3 that year, making it one of Australia’s worst oil disasters.
The West Atlas rig is owned by the Norwegian-Bermudan Seadrill and operated by PTTEPAA.
Some 13,000 Indonesian seaweed farmers filed a class action lawsuit against PTTEPAA demanding $200 million in compensation and an Australian court ruled in favour of them on March 19 and October 25 last year. PTTEPAA appealed against the verdicts on December 13, 2021, prompting the court to urge both parties to settle their differences in out-of-court negotiations.
PTTEPAA said the group of farmers has agreed to drop its lawsuit and the settlement does not mean PTTEP Australasia is at fault. It added that details of the settlement cannot be released now because it is still being deliberated in court.