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2023

  • in podcast
  • 3 min read

How to Transform Your Idea into an Investment by Crafting an Irresistible Pitch

Welcome to "Continuous Improvement," the podcast where we explore strategies and techniques to enhance your entrepreneurial journey. I'm your host, Victor, and today we'll be diving into the art of pitching your business idea. Whether you're seeking investment or trying to secure partnerships, a compelling pitch can go a long way in captivating your audience. So, let's get started!

Before you even think about pitching, it's crucial to begin with a strong hook. You want to grab your audience's attention right from the start. Consider using an intriguing statistic, an anecdote, or a thought-provoking question related to your idea. A captivating opening will set the stage for what's to come.

Once you have their attention, it's time to establish the context. Highlight a market shift or trend that creates a unique opportunity for your idea. Convey a sense of urgency and explain why now is the right time to introduce your solution. Share relevant data, industry insights, or recent developments that demonstrate potential for growth and disruption.

Now it's time to clearly articulate the problem or pain point facing your target audience. Paint a vivid picture of the magnitude and implications of this issue. Connect with your listeners on an emotional level by helping them understand why solving this problem is essential and how it affects a significant number of people.

It's important to introduce your solution or product as a game-changer that addresses the highlighted problem. Clearly explain how your idea uniquely and compellingly solves the problem. Emphasize the key features and benefits that differentiate your solution from existing alternatives.

As you move forward with your pitch, don't forget to outline your business model. Show how your solution creates value and generates revenue. Clearly explain your monetization strategy, pricing, and distribution channels. Investors need to see that you have thoroughly researched and considered the financial aspects of your idea.

Traction is crucial, so make sure you demonstrate progress and market interest. Share evidence of early success or validation, such as milestones, customer testimonials, or partnerships. This shows investors that your idea is gaining traction and that there is demand in the market.

Articulate a compelling vision for the future of your idea and its potential impact. Convey your passion and enthusiasm as you describe how your solution can transform the lives of your target audience and reshape the industry. Investors want to see that you have a clear vision and are committed to realizing it.

It's time to provide a comprehensive analysis of the market you're targeting. Showcase the market size, growth potential, and any untapped opportunities. Present your understanding of the target audience, their needs, and their behaviors. Investors need to know that there is a sizable market for your solution.

Acknowledge the competitive landscape and demonstrate your understanding of the competition. Clearly articulate your unique selling proposition (USP) and how it positions you favorably against existing players. Show that you have researched and analyzed the competition, and explain how you plan to differentiate yourself.

Lastly, introduce your team, emphasizing their expertise, skills, and relevant experience. Highlight key members who bring credibility and domain knowledge to your venture. Investors invest in people as much as they invest in ideas, so demonstrate that you have the right team to execute your vision.

Throughout your pitch, remember the power of storytelling. Craft a narrative that emotionally connects with your listeners and conveys the journey from problem to solution. Weave in personal anecdotes, examples, and real-life scenarios to make your pitch compelling.

[Closing Thoughts]

Pitching your business idea is an inevitable part of the entrepreneurial journey. By mastering the essential components we've discussed today and leveraging the power of storytelling, you can create a pitch that captivates potential investors or partners. Remember, continuous improvement is key in refining your pitch and making it more effective. Thanks for listening to "Continuous Improvement." I'm Victor, your host, and until next time, keep striving for greatness.

  • in zh
  • 1 min read

如何通過構建無法抗拒的提案將您的想法轉化為投資

在快節奏的創業世界中，擁有一個開創性的想法只是建立成功業務的第一步。為了將該想法轉化為一個可行的投資，您需要一個有效的投資提案，以吸引潛在投資者的注意和興趣。投資提案的藝術在於將您的想法呈現為一個解決迫在眉睫問題的引人入勝的解決方案，並且得到了一個堅實的業務模型、一個卓越的團隊和對未來的願景的支持。本博客文章將指導你穿越一個好的投資提案的主要組成部分，強調故事講述的重要性，以吸引和激勵你的聽眾。

1. 引語

你的投資提案的開頭對於抓住觀眾的注意力至關重要。從一個引人入勝的引語開始，激發好奇心，並為即將到來的事情奠定基調。考慮使用一個引人入勝的統計數字、一個趣聞或一個與您的想法相關的發人深省的問題。

2. 市場變化（回答"為什麼？"）

通過突出市場的轉變或趨勢來確立情境，爲你的點子創造了一個獨特的機會。傳達一種緊迫感，解釋現在是為何是引入你的解決方案的正確時機。分享相關數據、行業洞見或最近的發展，證明成長和顛覆的潛力。

3. 問題（回答"為什麼？"）

清楚地說明您的目標受眾面臨的問題或痛點。描繪這個問題的大小和影響，與你的聽眾產生情感連結。幫助投資者了解解決此問題的必要性以及它如何影響大量人群。

4. 解決方案/產品（回答"什麼？"）

將你的解決方案或產品介紹為改變遊戲規則的方式，解決突出的問題。清楚地解釋你的想法如何獨特而有說服力地解決問題。強調與現有替代品相比，讓你的解決方案與眾不同的關鍵特性和益處。

5. 商業模式（回答"什麼？"）

概述您的商業模型，展示你的解決方案如何創造價值並產生收入。清楚地解釋你的盈利策略、定價和分銷渠道。證明你已經徹底研究並考慮了你的想法的財務方面。

6. 推進力（回答"如何？"）

通過分享早期成功或驗證的證據來證明推進力和進步。突出里程碑、客戶證詞、夥伴關係，或者任何其他指示對你的解決方案的市場興趣和需求的重大成就。這提供了你的想法不僅僅是理論上的，而且已經在獲取推進力的證據。

7. 願景（回答"下一步是什麼？"）

闡述你的想法的未來和其可能影響的引人入勝的願景。在描述你的解決方案如何轉變你的目標受眾的生活並重塑行業的過程中，傳達你的熱情和熱情。投資者想要看到你有清晰的願景，並致力於實現它。

8. 市場（回答"下一步是什麼？"）

提供一個你的目標市場的全面分析。展示市場規模、增長潛力，以及任何未開發的機會。展示你對目標受眾、他們的需求和行為的理解。投資者需要知道你的解決方案有一個大規模的市場。

9. 競爭（回答"下一步是什麼？"）

承認競爭環境，並展示對你的競爭對手的深入了解。清楚地說明你的唯一賣點（USP），並說明你與現有玩家相比的有利位置。表明你已經研究並分析過競爭，並解釋你打算如何區別自己。

10. 團隊（回答"誰？"）

介紹你的團隊，強調他們的專長、技能和相關經驗。突出帶給你的企業信譽和領域知識的關鍵成員。投資者投資於人員，就像他們投資於想法一樣；證明你有實現你的願景的正確團隊。

故事就從這裡開始

在你的投資提案中，請記住，敘事是吸引和激發你的聽眾的有力工具。創造一個與你的聽眾產生情感連結，並傳遞從問題到解決方案的旅程的敘事。將個人趣聞、例子和現實生活情境融入你的投資提案，使其變得動人。

  • 3 min read

Career Conversations - Discovering Strengths and Values

Introduction

Navigating the world of career choices can often be overwhelming and confusing. With so many options available, it's easy to feel lost or uncertain about which path to choose. However, by taking the time to identify your strengths and values, you can gain clarity and engage in more meaningful career conversations. In this blog post, we will explore the importance of understanding your strengths and values in shaping your professional journey.

Understanding Your Strengths

Your strengths are the unique qualities and skills that come naturally to you. These are areas in which you excel and feel confident. Identifying your strengths is crucial because aligning your work with them increases your chances of experiencing satisfaction, engagement, and success. Here are some strategies for uncovering your strengths:

a) Reflect on your past experiences: Consider tasks or activities where you have consistently performed well. Which activities energize you and make you lose track of time? These experiences can provide valuable clues about your strengths.

b) Seek feedback from others: Ask trusted friends, colleagues, or mentors what they perceive as your strengths. Often, others can identify our strengths more clearly than we can ourselves.

c) Use assessment tools: Tools like the StrengthsFinder assessment can offer insights into your natural talents and help you articulate your strengths more effectively.

Reflection on My Strengths

For example, after some self-reflection, I have identified the following strengths:

...

Identifying Your Values

Values are the guiding principles that shape your behavior and decisions. They are deeply held beliefs about what is important and meaningful to you. When your work aligns with your values, you experience a sense of purpose and fulfillment. Here are some steps to help identify your values:

a) Reflect on what matters most to you: Consider the aspects of life that you find most fulfilling and satisfying. These could be creativity, collaboration, autonomy, making a positive impact, or something else entirely. Identify core values that resonate with you.

b) Prioritize your values: Once you've identified your values, rank them in order of importance. This will help you understand which values are non-negotiable in your career.

c) Evaluate alignment with your current situation: Assess how well your current job or career path aligns with your values. If there's a significant mismatch, you may need to explore other options that better reflect your core values.

Reflection on My Values

As an example, after some self-reflection, here are my prioritized values:

...

Having Career Conversations

Armed with a clear understanding of your strengths and values, you're ready for more purposeful career conversations. Whether you're discussing career options with a mentor, seeking advice from a professional network, or interviewing for a job, here's how to make the most of these conversations:

...

Conclusion

Understanding your strengths and values is a transformative process that can have a significant impact on your career journey. By identifying and leveraging your strengths, you can excel in your chosen field. Similarly, aligning your work with your values will help you find both fulfillment and purpose.

  • in podcast
  • 3 min read

Career Conversations - Discovering Strengths and Values

Welcome to Continuous Improvement, the podcast where we explore strategies and insights to help you navigate the ever-changing world of career choices. I'm your host, Victor, and in today's episode, we'll dive into the importance of understanding your strengths and values when shaping your professional journey.

Navigating the world of careers can often be overwhelming and confusing. With so many options available, it's easy to feel lost or uncertain about which path to choose. But fear not! By taking the time to identify your strengths and values, you can gain clarity and engage in more meaningful career conversations.

Let's start by understanding your strengths. Your strengths are the unique qualities and skills that come naturally to you. These are areas in which you excel and feel confident. Identifying your strengths is crucial because aligning your work with them increases your chances of experiencing satisfaction, engagement, and success.

Reflecting on past experiences is a great way to uncover your strengths. Consider tasks or activities where you have consistently performed well. Which activities energize you and make you lose track of time? These experiences can provide valuable clues about your strengths. Additionally, seeking feedback from others can offer fresh perspectives on your strengths.

You can also use assessment tools, like the StrengthsFinder assessment, to gain further insights into your natural talents. These tools can help you articulate your strengths more effectively, giving you a strong foundation to build upon.

Now, let's move on to identifying your values. Values are the guiding principles that shape your behavior and decisions. They are deeply held beliefs about what is important and meaningful to you. When your work aligns with your values, you experience a sense of purpose and fulfillment.

Reflecting on what matters most to you is a crucial step in identifying your values. Consider the aspects of life that you find most fulfilling and satisfying. These could be creativity, collaboration, autonomy, making a positive impact, or something else entirely. Once you've identified your core values, prioritize them in order of importance.

Evaluating alignment with your current situation is essential. Take a look at how well your current job or career path aligns with your values. If there's a significant mismatch, it might be time to explore other options that better reflect your core values.

Armed with a clear understanding of your strengths and values, you're now ready for more purposeful career conversations. Whether you're discussing career options with a mentor, seeking advice from a professional network, or interviewing for a job, always remember to leverage your strengths and ensure alignment with your values.

Understanding your strengths and values is a transformative process that can have a significant impact on your career journey. By identifying and leveraging your strengths, you can excel in your chosen field. Similarly, aligning your work with your values will help you find both fulfillment and purpose.

That's all for today's episode of Continuous Improvement. I hope you found these insights valuable and that they help you navigate your professional journey with confidence. Remember, continuous improvement is a journey, not a destination. Stay tuned for more episodes where we explore strategies and insights to help you thrive in today's dynamic work environment. I'm Victor, signing off.

[NARRATOR]: This podcast was brought to you by Continuous Improvement. To stay updated on future episodes, make sure to subscribe and follow us on your favorite podcast platform. For more resources and additional content, visit our website at continuousimprovement.com. Thank you for listening!

  • in zh
  • 1 min read

簡介

在職業選擇的世界中導航，往往會讓人感到壓力重重和迷惑。面對如此眾多的選項，很容易感到迷失或不確定該選擇哪條路。然而，花時間確定你的優點和價值觀，可以使你有更清晰的方向，並進行更有意義的職業對話。在這篇博客文章中，我們將探討理解你的優點和價值觀在塑造你的職業生涯中的重要性。

理解你的優點

你的優點是你的獨特品質和天生技能。這些是你在其中表現出色且充滿自信的領域。確定你的優點很重要，因為將你的工作與它們對齊可以提高你體驗滿足、投入和成功的機會。下面是一些揭示你優點的策略：

a) 反思你的過去經歷：思考你在哪些任務或活動中表現出色。哪些活動使你充滿活力，並且讓你忘記時間？這些經驗可以提供關於你的強項的寶貴線索。

b) 尋求他人的反饋：詢問值得信賴的朋友、同事或導師他們認為你的優點是什麼。往往，他人比我們自己更能明確地識別我們的優點。

c) 使用評估工具：像StrengthsFinder這樣的評估工具可以提供你自然才能的洞察，並幫助你更有效地表達你的優點。

對我的優點的反思

例如，經過一些自我反思，我確定了以下優點：

...

確定你的價值觀

價值觀是塑造你的行為和決策的指導原則。它們是你對什麼重要和有意義的深深信念。當你的工作與你的價值觀一致時，你會體驗到目標感和成就感。下面是一些幫助確定你價值觀的步驟：

a) 反思你最在乎的是什麼：思考你覺得最令人滿足和滿意的生活方面。這些可能是創造力、協作、自主性、產生正面影響，或者其他完全不同的東西。確定與你產響的核心價值。

b) 給你的價值觀排序：一旦你確定了你的價值觀，就按照重要性對它們進行排序。這將幫助你了解在你的職業中哪些價值是不能妥協的。

c) 評估你當前情況的對齊情況：評估你當前的工作或職業道路與你的價值觀的符合程度。如果有顯著的不匹配，你可能需要探索更好地反映你核心價值的其他選項。

對我的價值觀的反思

例如，經過一些自我反思，這些是我按優先順序排序的價值觀：

...

進行職業對話

配備了對你的優點和價值觀的清晰理解，你已經準備好進行更有目標的職業對話。無論你是與導師討論職業選擇，尋求專業網絡的建議，或者參加求職面試，以下是如何充分利用這些對話的方式：

...

結論

理解你的優點和價值觀是一個變革性的過程，可以對你的職業之旅產生重大影響。通過識別和利用你的優點，你可以在你選擇的領域中表現出色。同樣，將你的工作與你的價值觀對齊將幫助你找到滿足和目的感。

  • 4 min read

Saga Pattern in Microservices Architecture

"The whole is greater than the sum of its parts," a sentiment articulated by Plato, perfectly encapsulates the essence of great architecture. Great architecture is a blend of experience (patterns, anti-patterns, and battle scars), creativity (thinking outside the box, prototyping, and utilizing the scientific method), and mechanical sympathy (understanding a machine's operations at a lower level). Achieving the best architecture is deceptively simple in concept but remarkably difficult in practice.

Introduction

In the realm of microservices architecture, maintaining data consistency and integrity across multiple services is challenging. As systems become increasingly distributed and complex, traditional transactional methods often fall short. This is where the Saga pattern comes to our aid. In this blog post, we will delve into the Saga pattern, discussing its importance in microservices architecture, its benefits, considerations for implementation, and real-world applications.

What is the Saga Pattern?

The Saga pattern is a design approach that facilitates the management of long-lived transactions across multiple microservices. It tackles the issue of consistency in distributed systems by segmenting a large transaction into a series of smaller, local transactions. Each local transaction represents a step in a broader business process, and the sequence of these local transactions constitutes a saga.

The core concept of the Saga pattern is that compensating actions can reverse the effects of completed transactions in the event of failures or errors. This enables the system to maintain data integrity and eventually attain a consistent state.

In the context of microservices, virtually everything can be considered a saga, especially any process involving more than one microservice. A step in a saga generally performs one of the following tasks:

  • Interacting with a database
  • Invoking another microservice
  • Publishing an event

Benefits of the Saga Pattern

  1. Improved Data Consistency: By decomposing transactions into smaller steps and incorporating compensating actions, the Saga pattern ensures that data remains consistent across multiple services, even when failures occur.

  2. Scalability and Availability: Because microservices can be scaled and deployed independently, each service participating in a saga can manage its workload efficiently. This contributes to the system's overall scalability and availability.

  3. Flexibility and Loose Coupling: The Saga pattern encourages loose coupling between services, as each service is accountable for its segment of the complete saga. This enables independent development, deployment, and maintenance of services, allowing teams to operate autonomously.

Implementing the Saga Pattern

To put the Saga pattern into practice, one can adopt various approaches. Here are two common ones:

  1. Choreography-based Saga: In this model, each service in the saga directly communicates with the other services. They publish events or messages to indicate the completion of their local transactions, and other services subscribe to these events and react accordingly. While the choreography approach eliminates the need for a centralized orchestrator, it requires meticulous coordination and event management.

  2. Orchestration-based Saga: This method involves a central orchestrator that guides the steps of the saga and oversees the flow of transactions. The orchestrator issues commands to individual services, directing them to execute their local transactions. Although this approach provides centralized control, it introduces a single point of failure and potential performance bottlenecks.

Real-World Use Cases

The Saga pattern is applicable in various practical scenarios:

  • E-commerce Order Processing: When you place an order, the process involves multiple services like inventory management, payment processing, and shipping. Utilizing the Saga pattern ensures that each service performs its tasks consistently and correctly, even if failures happen at any stage.
  • Hotel Reservation Systems: Reserving a hotel room requires the coordination of availability, payment, and confirmation. A saga ensures that each of these steps is executed correctly and triggers compensating actions if errors occur.

Conclusion

Maintaining consistency and data integrity in microservices architecture is crucial. The Saga pattern provides a robust framework to address these challenges by segmenting transactions into smaller, manageable parts and including compensating actions. By adopting the Saga pattern, organizations can develop scalable, flexible, and resilient microservices systems that offer a consistent and reliable user experience.

It's important to note that implementing the Saga pattern requires a thoughtful consideration of your specific use cases and system requirements. Although it presents significant advantages, you should evaluate the trade-offs and choose the most suitable implementation approach based on your unique needs.

  • in podcast
  • 2 min read

Saga Pattern in Microservices Architecture

Welcome to Continuous Improvement, the podcast where we explore strategies and techniques to enhance our architectural practices. I'm your host, Victor, and today we will be diving into the fascinating world of microservices architecture and the Saga pattern.

The quote, "The whole is greater than the sum of its parts," by Plato, perfectly sums up the essence of great architecture. Great architecture combines experience, creativity, and mechanical sympathy to achieve the best results. However, in the realm of microservices architecture, maintaining data consistency and integrity across multiple services can be quite challenging.

Today, we will unravel the Saga pattern and understand its significance in microservices architecture. We'll discuss its benefits, considerations for implementation, and real-world applications.

So, what exactly is the Saga pattern? Well, it's a design approach that helps manage long-lived transactions across multiple microservices. By breaking down a large transaction into a series of smaller, local transactions, each representing a step in a broader business process, we create a saga. The saga ensures data consistency by utilizing compensating actions to reverse the effects of completed transactions in case of failures or errors.

The Saga pattern is incredibly valuable in microservices architecture as it offers several benefits. Firstly, it enhances data consistency by decomposing transactions and incorporating compensating actions. Secondly, it contributes to scalability and availability by allowing independent scaling and deployment of individual services. Lastly, it fosters flexibility and loose coupling by enabling independent development and maintenance of services.

To implement the Saga pattern, there are two common approaches: choreography-based and orchestration-based sagas. In choreography-based sagas, each service communicates directly with others via events or messages, indicating the completion of their local transactions. On the other hand, orchestration-based sagas utilize a central orchestrator to guide the flow of transactions and issue commands to individual services.

Now that we have a good understanding of the Saga pattern, let's explore some real-world use cases. For example, in e-commerce order processing, the Saga pattern ensures that services such as inventory management, payment processing, and shipping coordinate their tasks consistently and correctly, even in the presence of failures. Another example is hotel reservation systems, where a saga guarantees correct execution of steps such as availability, payment, and confirmation.

Before we conclude, it's important to remember that implementing the Saga pattern requires careful consideration of your specific use cases and system requirements. While it provides significant advantages, evaluating trade-offs and selecting the most appropriate implementation approach is crucial.

Thank you for joining me today on Continuous Improvement. We delved into the Saga pattern, its relevance in microservices architecture, its benefits, implementation considerations, and explored real-world use cases. Remember, continuous improvement is a journey, and we are here to learn and grow together.

Join me next time for another exciting topic. Until then, keep striving for excellence in your architectural practices. This is Victor signing off.

  • in zh
  • 1 min read

在微服務架構中的Saga模式

「整體大於部分之和」這種觀點，由柏拉圖闡述，完美地概括出偉大建築的精髓。偉大的建築是經驗（模式、反模式和戰鬥傷疤）、創造力（跳脫框架的思考、原型製作和使用科學方法）和機械同理心（了解機器在較低級別的運作）的混合體。在實踐中，達成最佳建築驚人地簡單，但卻極度艱難。

簡介

在微服務架構的領域中，維護多個服務之間的數據一致性和完整性具有挑戰性。隨著系統變得日益分散和複雜，傳統的事務處理方法經常力不從心。在這裡，Saga模式來我們的幫助。在這篇博文中，我們將深入探討Saga模式，討論其在微服務架構中的重要性，其好處，實施的考慮因素，以及實際應用。

什麼是Saga模式？

Saga模式是一種設計方法，促進了跨多個微服務的長期交易管理。它通過將大型交易分段為一系列較小的本地交易，解決了分散系統中的一致性問題。每一個本地交易代表一個更廣泛的商業流程中的一個步驟，而這些本地交易的序列構成了一個saga。

Saga模式的核心概念是，補償行為可以在失敗或錯誤的情況下，逆轉已完成交易的影響。這使系統能夠保持數據完整性，並最終達到一致的狀態。

在微服務的背景下，幾乎所有的東西都可以被視為一個saga，特別是任何涉及多個微服務的過程。一個saga中的一個步驟通常執行以下任務之一：

  • 與數據庫進行交互
  • 調用另一個微服務
  • 發布一個事件

Saga模式的優勢

  1. 改善數據一致性：通過將交易分解為較小的步驟，並加入補償行為，Saga模式確保即使在遇到失敗時，數據仍然在多個服務間保持一致。

  2. 可擴展性和可用性：由於微服務可以獨立地進行擴展和部署，參與saga的每個服務都可以有效地管理其工作負載。這有助於增強系統的整體可擴展性和可用性。

  3. 靈活性和鬆散耦合：Saga模式鼓勵服務之間進行鬆散耦合，因為每個服務都要負責完成saga的一部分。這使服務的開發、部署和維護可以獨立進行，讓團隊能夠自主運營。

實施Saga模式

要將Saga模式付諸實踐，可以採用各種方法。以下是兩種常見的：

  1. 基於編排的Saga：在這種模型中，saga中的每個服務都直接與其他服務進行通信。他們發布事件或訊息，表示他們的本地交易已完成，其他服務訂閱這些事件並做出相應反應。雖然編排方法消除了對集中式協調者的需求，但需要精心協調和事件管理。

  2. 基於協調的Saga：這種方法包括一個集中式的協調者，該協調者指導著saga的步驟，並監督交易的流動。協調者向單個服務發出命令，指導他們執行他們的本地交易。雖然這種方法提供了集中化的控制，但它引入了一個失敗的單點和潛在性能瓶頸。

實際範例

Saga模式可以應用於各種實際情況：

  • 電子商務訂單處理：當你下訂單時，該過程涉及多個服務，如庫存管理、付款處理和運輸。使用Saga模式確保每個服務都以一致和正確的方式執行其任務，即使在任何階段都有失敗發生。

  • 酒店預定系統：預定酒店房間需要協調可用性、付款和確認。一個saga確保每一步都得以正確執行，並在出現錯誤時觸發補償行為。

總結

在微服務架構中維護一致性和數據完整性至關重要。Saga模式提供了強健的框架，通過將交易切割為較小的、易於管理的部分，並包含補償行為來解決這些挑戰。通過採用Saga模式，組織可以開發出可擴展、靈活、有韌性的微服務系統，提供一致和可靠的用戶體驗。

重要的是要注意，實施Saga模式需要根據你的特定使用案例和系統需求進行深思熟慮。雖然它具有顯著的優點，但你應評估權衡並根據你的獨特需求選擇最合適的實施方法。

  • 4 min read

Challenges of MBA Programs

I graduated from the part-time Master of Business Administration (MBA) program at the Chinese University of Hong Kong in 2019. An MBA degree has long been considered one of the most prestigious and valuable qualifications in the business world. However, despite its popularity and reputation, many MBA programs also face a number of significant challenges, such as declining attractiveness to prospective students, fluctuating global rankings, and uncertain career prospects for graduates. A frequently asked question among my friends is whether pursuing an MBA is worth it.

One major challenge facing MBA programs is the declining number of applicants. For example, MBA programs in Hong Kong have been significantly impacted by the pandemic and political unrest, leading to a decline in applications for the third consecutive year. This downward trend is a cause for concern among business schools. Several factors may contribute to this decline. One possible reason is the escalating cost of MBA programs, which can deter many international students. Another potential factor is the reduced recognition of these qualifications by employers, especially in Singapore, which lowers the perceived value of the investment.

In my opinion, the worth of an MBA program depends on your personal career goals and the specific program you're considering. An MBA can be a valuable investment, equipping graduates with a wide range of business skills and knowledge, including leadership, strategic thinking, financial analysis, and communication. These skills are highly sought-after by employers and can help you advance your career and increase your earning potential. More importantly, the network and friendships formed through the MBA program have broadened my perspective. Keeping an open mind can also pave the way for new opportunities.

Another challenge is the inconsistency of international rankings. While rankings can be a useful tool for students when choosing an MBA program, they can also be unreliable. Different ranking systems employ different criteria and methodologies, resulting in disparate outcomes. This inconsistency makes it difficult for prospective students to accurately compare and evaluate different MBA programs.

Many people are unaware of the methodology behind Financial Times' business school rankings. The system only considers full-time MBA students and excludes part-time programs. Graduates from years past also influence the ranking through survey responses. If graduates do not respond to the survey or cannot provide updated salary information, this could negatively impact the school's ranking. Also, career changes or relocations by alumni can skew the ranking, which may not necessarily be a fair metric.

Graduates may also face challenges in finding employment and progressing in their careers. Although an MBA can impart valuable skills and knowledge, it doesn't guarantee success in the business world. The degree may open some doors, but graduates often face intense competition for top positions. The current economic climate can further complicate job searches. For instance, there may be layoffs and fewer entry-level opportunities in investment banking. Employers might prefer candidates with different types of experience over MBA graduates.

Personally, I believe the value of an MBA degree may be diminishing. This devaluation could lead to a situation where an MBA is no longer a minimum requirement for certain positions, thus failing to differentiate candidates. This trend is concerning for society at large, as it limits opportunities for individuals with potential and ambition. Ignoring the merits of diverse backgrounds could result in social mobility issues, where opportunities are only available to a lucky few.

Overall, MBA programs face numerous challenges that affect their appeal to prospective students and their potential for career advancement. Despite these challenges, they also present opportunities for business schools to adapt and innovate. By addressing these challenges head-on, MBA programs can continue to offer valuable education and prepare graduates for future career success. As a CUHK MBA graduate, I found the program provided quality education, excellent career prospects, and unique insights into doing business with China—particularly beneficial for international students.

Ultimately, the decision to pursue an MBA should be based on a thorough evaluation of the costs and benefits. You should consider your career goals, personal circumstances, and financial situation before making a decision. Research various MBA programs, taking into account factors like accreditation, reputation, curriculum, and alumni networks. By doing so, you can make an informed decision on whether an MBA program is the right fit for you. If you are interested in learning more about the CUHK MBA program, feel free to drop me a message on LinkedIn. I would be happy to answer your questions.

  • in podcast
  • 3 min read

Challenges of MBA Programs

Welcome to Continuous Improvement, the podcast where we explore ways to enhance our personal and professional lives. I'm your host, Victor Leung. Today, we're diving into the topic of MBA programs, their challenges, and whether pursuing an MBA is worth it. I recently came across a thought-provoking blog post that raised some interesting points on this subject, and I wanted to share my thoughts with you.

The declining attractiveness of MBA programs tops the list of challenges faced by business schools around the world. In recent years, we've seen a decrease in the number of applicants, leading to concerns about the future of MBA programs. Rising costs, reduced recognition by employers, and uncertain career prospects have all contributed to this declining trend.

One factor that can deter prospective students is the increasing cost of MBA programs. With tuition fees on the rise, many international students are finding it difficult to justify the investment. Additionally, employers' recognition of these qualifications has been diminishing in some regions, further impacting the perceived value of an MBA.

However, the worth of an MBA program ultimately depends on your personal career goals and the specific program you're considering. The skills and knowledge gained from an MBA, such as leadership, strategic thinking, financial analysis, and communication, are highly sought after by employers. These skills can help you advance your career and increase your earning potential. Additionally, the network and friendships formed during the program can provide valuable connections and open doors to new opportunities.

Another challenge faced by MBA programs is the inconsistency of international rankings. While rankings can be a useful tool for students, they can also be unreliable. Different ranking systems employ different criteria and methodologies, resulting in disparate outcomes. This makes it difficult for prospective students to accurately compare and evaluate programs.

For instance, the blog post highlights how the methodology behind Financial Times' business school rankings can skew the results. The exclusion of part-time programs and the reliance on alumni responses to surveys can affect a school's ranking. Additionally, career changes and relocations by alumni can further impact the ranking, making it an imperfect metric.

Finally, graduates may face challenges in finding employment and progressing in their careers despite having an MBA degree. While an MBA equips graduates with valuable skills and knowledge, it doesn't guarantee success in the competitive business world. Intense competition for top positions and the current economic climate can complicate job searches and limit opportunities.

Personally, I believe the value of an MBA degree may be diminishing. As the blog post suggests, it could reach a point where an MBA is no longer a minimum requirement for certain positions, failing to differentiate candidates. This trend raises concerns about limited opportunities and social mobility, where only a select few can access certain positions.

MBA programs face significant challenges, but they also present opportunities for adaptation and innovation. By addressing these challenges head-on, business schools can continue to offer a valuable education and prepare graduates for future career success. Thorough evaluation of the costs and benefits, consideration of career goals, personal circumstances, and financial situations are crucial in making an informed decision about pursuing an MBA.

Thank you for tuning in to this episode of Continuous Improvement. I hope this discussion has provided you with new perspectives on the challenges faced by MBA programs and the worth of pursuing an MBA. As I mentioned earlier, this topic was inspired by a thought-provoking blog post, and I encourage you to read it for yourself to gain a deeper understanding of the subject.

If you have any questions or thoughts on this episode, feel free to reach out to me on LinkedIn. I always enjoy engaging with my listeners. Until next time, keep striving for continuous improvement in all aspects of your life.