Link to original video by INSEAD

MBA Graduation December 2019 - Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings

Outline Video MBA Graduation December 2019 - Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings

Short Summary:

Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings, addresses INSEAD MBA graduates in December 2019. He offers a contrarian perspective on the value of an MBA, questioning its relevance in the face of evolving societal needs and technological disruption. He highlights the increasing importance of social entrepreneurship, lifelong learning, and diversity & inclusion. Specific technologies like AI and robotics are mentioned as drivers of disruption, while climate change is presented as a significant challenge requiring action. The overall implication is that while an MBA remains a valuable credential, graduates must embrace a broader definition of success, focusing on purpose, societal impact, and adaptability to navigate the complexities of the 21st century. No specific processes or methods are detailed, but the speaker emphasizes the importance of lifelong learning and adapting to change.

Detailed Summary:

The speech can be broken down into several sections:

1. The MBA and its Value (Contrarian View): Kwon Ping begins by playfully acknowledging his invitation, attributing it to a marketing strategy to attract the high-earning MBA graduates to his hotels. However, he then presents a contrarian viewpoint, revealing his own lack of an MBA and suggesting that his biggest strategic asset—a large beachfront property—resulted from a lack of "due diligence." He acknowledges the MBA's importance as a milestone but questions its increasing commoditization and the potential for groupthink among graduates. He observes a shift away from traditional MBA paths towards social entrepreneurship. A key quote: "the MBA what may well remain an important credentializing prerequisite for the c-suite but it is in danger of being considered irrelevant by unicorn creators or social entrepreneurs who are increasingly replacing corporate leaders as societal change makers."

2. The Changing Landscape of Careers and Education: Kwon Ping discusses the decline in MBA enrollment in the US, contrasting it with the increasing participation of women. He emphasizes the need for lifelong learning and periodic skills-based executive education to adapt to rapid technological advancements and longer lifespans.

3. The Role of MBAs in Societal Change: He argues that the MBA's potential lies in fostering thought leadership and business-led societal change. He advocates for diversity and inclusivity within the MBA world and beyond, believing it crucial for organizational improvement. He hopes INSEAD MBAs will become societal change-makers, not just high-earning corporate managers.

4. Personal Anecdotes and INSEAD's History: Kwon Ping shares his personal journey, highlighting his connection with INSEAD spanning nearly 40 years. He recounts his early career, his family business, and his decision to start Banyan Tree. He also mentions his involvement with INSEAD's Pacific advisory board and his role in appointing a dean to SMU.

5. Macro Trends Shaping the Future: He addresses several significant global trends:

6. Personal Responsibility and Purpose: He concludes by emphasizing the importance of personal purpose and meaning. He encourages graduates to challenge assumptions, pursue their passions, and dare to make a difference, however small. He offers this guiding principle: "the courage to change what can and must be changed; the humility and the grace to accept what you cannot change in life; and the wisdom to know the difference between the two."

The speech lacks detailed processes or methods but emphasizes the importance of critical thinking, adaptability, lifelong learning, and a commitment to societal impact as key skills for success in the 21st century.