Sogang aims at top business school in Asia

By Na Jeong-ju

MBA schools say applicants should change their approach in selecting business schools as the world has changed over the past decade, calling for different elements and requirements in business than in the past.

In a rapidly globalizing society, they are urged to look for programs that can help them learn about the new global environment in class, paving the way to a global career and develop international business expertise. In that sense, good business schools in the global environment should not only ensure good salaries after graduation but also help their students get diverse global perspectives through their programs.

And Sogang Business School is one of the good.

The school with strong Jesuit tradition is becoming more enthusiastic about offering learning opportunities to talented Asian students under its ambitious globalization plan, school officials say.

The school plans to initiate the Sogang Global Brain Program for Asian Top Talented Program next year to give at least five students from Asian countries chances to take the school’s two-year MBA courses almost for free each year.

Beneficiaries of the program will receive full scholarships for two years and additional financial support based on academic merit.

“We’ve become one of the country’s best MBA schools thanks to excellent programs and outstanding students and faculty members. Our vision now is to become the best school in Asia,” said Chung Jai-hak, a professor of the university’s College of Business Administration.

“We are trying to offer the best MBA programs not only to Koreans but also to Asian students who are seeking job opportunities in Korea as well as other countries around the world. Korea must have top MBA schools for Asian students. The global brain program represents such a vision.”

The school’s four strategic values are globalization, leadership, excellence and ethics (GLEE).

Globalization represents its plan to expand its global student and faculty network. The school’s mission is to provide an outstanding education grounded in Jesuit tradition, cultivating students to become responsible leaders of the global business community through a devoted contribution to mankind. Also, it seeks to create new knowledge necessary for advancement of the academic world by emphasizing top-quality scholarship and research.

Most of all, the school has balanced programs of theories and training and excellent faculty members, according to the professor.

“Our academic prestige and future vision are embodied in the GLEE spirits. Based on the Jesuit educational tradition, we will focus on fostering students with a global perspective and business ethics,” Chung said.

The school is seeking to consolidate relationships with global firms to attract more talented Asian students through scholarships. Building a strong network of alumni and raising the school’s global reputation are the nuts and bolts for it to join the ranks of top MBA schools in Asia, school officials say.

They said the school’s 50-year-long academic prestige remains solid and will be so in the years ahead.

“We are one of the four business schools in the country that earned government funding for the development of MBA degree programs. We are also the recipient of another government subsidy provided under a project to nurture world-class universities,” a school spokesman said.

The school is now offering courses on diverse areas from accounting, finance, risk management and international business to marketing.

Under its globalization project, it has set up partnerships with more than 200 universities in 50 countries.

It is now offering dual-degree programs jointly with Britain’s Cass Business School, the College of Business in the University of Illinois Urbana-Champaign, the Carson School of Management at University of Minnesota and the Warrington College of Business Administration at University of Florida.

It is also a member of the International Association of Jesuit Business Schools, a group of about 100 business schools in about 30 countries, including Georgetown, Boston College and Loyola Marymount in the United States.

The school said, as of 2011, the university has joint academic agreements with 211 universities around the world and has been actively working on student and credit transfer, faculty and research exchanges.

“We plan to develop an innovative program that combines comprehensive information in business administration to nurture business leaders in rapidly-change Asian markets. The global brain program is part of such efforts,” Prof. Chung said.

The program is designed to give Asian students opportunities to earn MBA degrees in the country’s prestigious school in two years and to build a culturally diverse peer network across Asian countries. The school will provide scholarships to students and cover their living expenses through the program, which will be sponsored by the government as well as leading Korean firms, including POSCO, Samsung and Mirae Asset.

International students who plan to join the school’s MBA program next year are required to obtain a grade point average above 90 percent in the previous degree program and get high scores in language proficiency tests (TOEFL IBT 85, CBT 220 or higher), the school said

According to Prof. Min Jae-hyung, dean of the Sogang Business School, the clearest trend of business management in the 21st century is fast globalization.

“We should foster students who can cope aggressively with that trend. That’s why we’ve adopted a new educational vision to educate students to become top global business managers,” Min said.

He added that, to offer excellent business education, the school has been moving ahead with strategic alliances with top-rated international business schools, attractions of renowned international faculty members and reinforcement of academia-industry cooperation.

There is also a new paradigm in the global business environment: Unethical business management won’t survive and business managers who neglect ethical awareness wouldn’t be successful, Min said.

“The Jesuit tradition of Sogang that emphasizes good business management principles and integrity won’t change,” Min said. “We believe only managers who live up to global moral standards will be able to lead the corporate world in the future.”