Feature Stories

25.08.2020

The New Normal - Challenges & Opportunities

Message from the Dean

No one could have predicted the dire impact that COVID-19 would have on the world. Indeed, with its wide and lasting impacts, the outcome is still unclear.

So far, air travel has almost ground to a halt, global markets are experiencing upheavals, public facilities have become stretched, and to top it all off, the ongoing geopolitical tension is creating a new dimension of uncertainty.

The situation is so bad that it would be easy to throw in the towel and call it quits. But it is not the nature of human beings to simply give up. Throughout history, humans have risen against adversity and overcome wars, pandemics, and other disasters, because we know we have the power to determine the outcome of a crisis by our responses.  

There is no doubt that COVID-19 is a global game-changer which will be a part of our lives for a long time to come. It will establish a “new normal” and change the world.

In our latest series, “The New Normal – Challenges & Opportunities”, we embrace our role as a responsible business school to shape and reinforce the understanding of what the new business landscape and the new world will look like. We also discuss the best ways to approach this new world.

In this edition, we are honored to talk to five distinguished business and political leaders who share their thoughts on what they think the new normal will look like, and how they have coped with the changes so far.

Charles LI, Chief Executive of Hong Kong Exchanges and Clearing (HKEX) or the symbol of the city’s prosperity, talks about the importance of resilience and explains how HKEX kept going through a tumultuous financial market. Then we hear from the distinguished KOIKE Yuriko, the first woman to become the Governor of Tokyo. She talks about how Tokyo, one of the world’s most densely populated cities, is tackling the challenges of COVID-19, and the city’s preparations for the Olympics.  

We also hear from industry giants who have bucked the downward trend and led their companies to success. Dominic LAI, Deputy Managing Director of CK Hutchison and Group Managing Director of A.S. Watson, talks about how the company has responded to the crisis with resilience, flexibility and adaptability, and Louis SO, Co-chairman of Value Partners, shares his market outlook. Briming with some degree of optimism is our School Advisory Council Member Betty YUEN. She is Group Director and Vice Chairman of CLP Power Hong Kong, and discusses the importance of being prepared for a crisis.

Of course, the series wouldn’t be complete without hearing from our own faculty members. They share their expertise in a series of unique articles which cover topics ranging from the impact of COVID-19 on financial markets and emerging economies, the upside of the COVID-19 crisis, and how a strong digitalization strategy can help companies survive and become stronger.

This issue promises to be more than just good read. It’s a toolbox of key insights into what the “new normal” might look like, and how businesses can weather the storm.

Professor TAM Kar Yan
Dean of HKUST Business School