President Guiliano addresses members of the Class of 2014 who earned M.B.A. degrees in Nanchang, China.
Vice President Wu Zhaoyun, Dean Zhou Mei, Dr. Gao Yangsong, Associate Dean Wu Liangping, distinguished guests, members of the NYIT class of 2014, faculty, and staff:
Greetings on this wonderful morning.
Today we celebrate our 13th NYIT commencement ceremony here in Nanchang. I salute the 126 M.B.A students who are graduating and completing an important chapter in their lives.
We are honored to count you among our graduates and are grateful and honored by the ongoing support of our partner, Jiangxi University of Finance and Economics.
The growth of China has been the most-followed news event of the 21st century. Several hundred of the world’s leading CEOs gathered in Chengdu last summer to discuss the country’s rapidly evolving business environment at a global forum sponsored by Fortune magazine. They discussed critical issues that will be facing China during the years ahead – all highly relevant to your business education and your newly minted M.B.A. degree from NYIT.
Today’s world is full of economic and social challenges, and historians and economists point to human capital as key to solving many, if not all, of the challenges we face today and in the future. In fact, cultivating human capital is a force that will drive China’s future, according to findings from that CEO forum. As a not-for-profit institution of higher learning, NYIT’s rewards are measured in the creation of human capital and the education of leaders. And you are well prepared to meet the demand for experts who can manage people, synthesize ideas, and grow business enterprises.
For example, a McKinsey report on the Fortune CEO Forum says that China’s potential—and the billions spent on its physical infrastructure—will remain underexploited without efforts to develop its human infrastructure, and demand is growing for better teamwork, communications, and presentation skills.
Indeed, human capital is the solution to many challenges facing various sectors. Consider manufacturing, with its rising wages and other factor costs, growing consumer sophistication, more complex value chains, and heightened volatility. Many of the barriers to operational improvement, however, are organizational, not technical: too many managers still lack the experience to identify root causes of inefficiency.
Defining and instilling a workplace or corporate culture also is critical. Consider e-commerce; China is now the world’s second-largest e-tail market. Revenues reflect a compound annual growth rate of 120 percent from 2003 -2012. E-tailing’s impact is especially pronounced in the country’s small and midsize cities. But what does all of this mean? Ultimately, as with any venture in the online world, it relates to security and the protection of intellectual property. Companies here and around the globe are striving to educate employees and make risk management part of the culture and employee mindset. This is as important for entrepreneurs as it is for businesses with hundreds, or thousands, of employees.
Your choice of NYIT, a 21st-century global university, speaks volumes about your personal goals. You are graduating from a distinguished university with its main campuses in New York, of course, but also with students from throughout the United States and nearly 100 nations, and close to 100,000 graduates from our campuses in America, China, the Middle East, and Canada.
Let me remind you: our first name is New York – New York is recognized all over the world because New Yorkers are so global and New York is a world capital. And we provide that access to the world through our last name, Technology, which is shaping the future in powerful and momentous ways. Value and use your calling card ... your NYIT degree ... you’ve earned it.
Class of 2014, you are among a remarkable and elite few. A mere fraction of the college graduates in China hold the M.B.A. degree, and the demand for business education will only grow. Business leaders in China will continue to rely upon you, to help gain a greater understanding of the global business world and how to be better leaders who can manage and nurture one of China's most valuable assets – human capital.
I encourage you to stay in contact with your alma mater here and in America. Do come to visit, do stay in touch.
At NYIT, you have acquired the skill of critical thinking, of assimilating ideas and knowledge from a variety of sources to solve problems in a variety of disciplines.
In the 21st century, solutions to the world’s most difficult problems will be found in a mix of 1) science and technology, 2) business and market economics, 3) government and public policy, and 4) education. After all, a good university is a zone of exploration where we promote new ideas, accept failure, reward creativity, breed innovation, and foster interdependent learning.
The most important key may be 5) the breakdown of isolated thought and action. You’ve learned that the search for integrated approaches to global problems depends upon collaboration – on teams of people and clusters of ideas.
My challenge to you, NYIT M.B.A. graduates—is that you apply the perspective, knowledge, and skills that you have acquired with us to a global landscape … to solving through technology, as well as intelligence and compassion, problems that exist on a global scale. You will accomplish this by nurturing and leveraging your NYIT contacts: professors, colleagues and, yes, the international network of NYIT alumni you are about to join.
Continue the global exchange of ideas you began here. We hope to see you visiting our New York campuses and please share information so that members of the NYIT global community can read of your successes in NYIT Magazine. And, of course, I look forward to seeing you at NYIT alumni events in China.
What I wish for each of you is:
the confidence to embrace new ideas and new people.
a willingness to learn from your mistakes.
a lifetime of learning and personal growth.
and, most of all, a disposition to speak gently … to love much … to laugh often … and to be kind.
Do make us proud.
Congratulations and best wishes to you, the 13th cohort of our China M.B.A. program and members of NYIT’s class of 2014.