Refresh your mind with OWP
Wenhua Wang recalls his time on the program, saying one of the professor’s books is still his go-to reference
Wenhua Wang still has very fond memories of attending the Orchestrating Winning Performance (OWP) program. As Vice President of the Kunlun Energy Company headquartered in Hong Kong, he was sent by the Hong Kong Polytechnic University to attend the course as part of his doctorate in business administration.
Wenhua found his experience at IMD particularly rewarding. "I found many things very impressive," Wenhua says, adding that the biggest benefit for him was that it "refreshed my mind", taking him away from his job and showing him a more international perspective on business at higher management level. He says he appreciated the many different nationalities attending the program and was able to compare notes with others, including with a French executive who also works in the energy sector.
Wenhua appreciated the interactive nature of OWP, which is much less common in China, he says. "We were able to share experience and knowledge between us and were like a big family during the discussions."
OWP gave Wenhua a greater understanding of pricing and he learned that it's determined less by cost plus profit, and more on customer expectations. He also learned a great deal from the Mergers and Acquisitions session with Professor Nuno Fernandes, as Kunlun is involved in a lot of M and As as it expands and invests in mainland China. "The knowledge I learned at IMD has helped me make some big decisions with mergers," he says.To complement this knowledge, Wenhua carries Fernandes' book "Finance for Executives" wherever he goes. "I have read it three times, use it as a reference book and actually am talking to the publisher to try and have it translated into Chinese!" he enthuses.
Wenhua's main responsibilitieslie in the firm's financing and accounting, and he faces daily challenges. Kunlun is a listed company that distributes vehicle natural gas across China, with assets worth 12.9 billion US dollars, employing 20,000 people. This year saw the price of crude oil and natural gas dip which meant the company found it difficult to get the marketing right, says the Vice President.
Wenhua, who works in the Hong Kong headquarters, says hisother main challenge is financial cost. In China the lowest interest rate is a little higher than on the world stage, he says, so he has to find the best value fund for the company from outside China.
When asked why OWP was such a valuable experience, Wenhua says, "The world is changing very fast and so is people's knowledge so I think it is important to keep studying the latest business thinking".The next session of Orchestrating Winning Performance (OWP) takes place in Singapore from November 16-20.