I felt a bit nervous when accepted the task of interviewing Panchao Xing, the alumninus of MBA and vice president of Zhejiang Kukahome Company, but his friendly voice smoothed my feelings when the I firstly contacted him.

Strong advantages of EMBA in Zhongnan University of Economics and Law

When being asked reasons of choosing EMBA of Zhongnan University of Economics and Law, Mr. Xing believed that further education for entrepreneurs have following advantages: 1. the development of enterprises and change of social environment require the entrepreneurs to update their knowledge; 2. EMBA has a clearer focus on entrepreneurs’ capacities compared with undergraduate education, which will push their enterprises’ development; 3. The Zhongnan University of Economics and Law has an outstanding feature of economics education compared with other universities, and the teachers and syllabus are remarkable.

Mr. Xing said as far as he knows, many entrepreneurs also return to other universities for EMBA education, but their learnings are less practical compared with his. Therefore, He mentioned several times in the interview that “choosing EMBA of Zhongnan University of Economics and Law is a wise choice, which has excellent quality and reasonable price!”

Learnings from EMBA reveal the charms in enterprise management

2008 witnessed the global financial crisis, which is also the year that Mr. Xing enrolled in EMBA. He said: “the recession was a good chance to get further education. It is an opportunity for individuals and enterprises.”

Mr. Xing also emphasizedthe role of learnings from EMBA in managing his enterprise – Zhejiang Kukahome.

With knowledge offinancial management and management accounting, Mr. Xing adjusted and optimized the operation mode and management methods. Financial management changes executives’ management concepts from “accounting based on real costs” to “business based on established budget”. Entrepreneurs learn to adjust the order and operation mode of business activities and investment. There are also many effective tools and methods to achieve a reasonable input and output ratio. With detailed operation tools and methods, enterprises have obvious improvement.

After breaking down the cost budget and conducting incentive plans in employees, the border between the “public” and the “private” has been blurred. The interests of the management and employees have achieved an integrity, which will facilitate the sustainable development of enterprises. “There was an employee mentioned that the main switch in the factory can be divided into several sub switches, so lights can be turned on based on demands, which can save electricity.” Mr. Xing was quite proud of this anecdote, because he thought his learnings have been applied to enterprise operation, and employees also consider them as the owner of the enterprise. It is a benefit for both employees and enterprises.

Mr. Xing remembered that in 2009 the sales showed no growth, but the enterprise realized profits of nearly 100mn. Mr. Xing thought such profits were related to his learnings from EMBA. Mr. Xing also said that financial management will show its value in other industries, because the concept reflect the social improvement. He hoped more entrepreneurs can manage with such concepts to achieve sustainable development.

“I am so lucky to have new improvement at the age of 50”

As to the influence from EMBA, Mr. Xing smiled: “I am in 50s and understand that if reputation and degrees can not bring profits, they are just in vain. I am so lucky that at the age of 50, I still have an improvement chance.” Compared with others who learn to get a degree, Mr. Xing’s journey in EMBA is more like a process of enriching himself.