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[YZU] Chairman Douglas Hsu’s Remarks on the 30th Anniversary of Yuan Ze University

Post Date 2019.05.03From:Far Eastern Magazine/Editor's Room

This year we celebrate the 30th Anniversary of Yuan Ze University, and also the 70th Founding Anniversary of the Far Eastern Group.  These milestones are remarkable and worth of celebration; however, facing with quick changes of the environment, we should stay mindful and expedite our process. 


Since the establishment of Yuan Ze University 30 years ago, Mr. Y. Z. Hsu, the late founder, overcame tremendous challenges in order to secure the campus site.  In particular, “faculty recruitment” was tough for a newly established university to attract outstanding faculty members.  Surprisingly, the flexibility and innovative spirit of the private university has attracted many talented professors and commenced a new chapter for Yuan Ze.
  
Yuan Ze now marks its 30th founding anniversary, for people reaching thirty of age, this is a major turning point with a delightful landmark.  For the future, we should think through what role Yuan Ze will play?  What kind of institute it aims to become?  What is our foundation?  In facing with lower birth rate era, this impacts the over-supply of schools and the lack of demands in students.  The survival of Yuan Ze depends on its roadmap for the next 5 to 10 years.
  
More than twenty years ago, Taiwan was in lead of the “Four Asian Tigers” and played a vital role in the world economy.  In contrast today, our ranking has dropped considerably.  While ranking is merely a reference, it may serve as the benchmark for our competitiveness in terms of national development as well as the development of our enterprises.  Currently, the annual revenues of the Far Eastern Group are ranked among the Fortune Global 500 list.  Our ranking will change in the future and relies on the efforts of all our colleagues.  The Group’s affiliate, Far EasTone Telecommunications is in leads of both communication and service quality.  Due to the cut-throat nature of the telecom industry, we will have to transform from the pure operator into a software solution provider in order to maintain sustainable growth.  This can apply to the education field as well.  Yuan Ze University should also stay competitive in its ranking and expedite its transformation to be adaptable to the future.
  
Recently, I attended the AEI World Forum in the U. S.  The discussions in various seminars no longer covered general topics such as market, product, and cost.  They are replaced by the topics in Artificial Intelligence (AI) field.  What was astonishing to me was that overseas institutions have advanced its topics to “how to control AI with AI” whilst most enterprises in Taiwan still stay on “how to introduce AI.”  Furthermore, during this trip to the U.S., I accidently lost my cell phone in the taxi.  As my mobile data was not backed up in the cloud, I was quite anxious and fully realized the importance of cloud technology.
  
Therefore, with digital convergence of AI, IoT, and cloud computing in the “New Economy” era, we must understand the application of advanced technologies.  The University should also strengthen its understanding of the New Economy” and enhance developments and education of relevant technologies.  In the past, business schools used to focus on cost control and marketing, now they must pay more attention to data analysis to understand when customers will arrive? What merchandise they are purchasing?  And then based on these customer data and sales information, we need to plan future marketing strategies so as to boost sales.  The dual-brand of Far Eastern Retail Group operating with Far Eastern Department Stores and SOGO Department Stores has also engaged in such analysis.  Moreover, the retail industry seeks talents in APP developments in order to provide one-stop shop services to better serve our customers and elevate customer satisfaction.  The University should also speed up to cultivate talents in this field.
  
The fact that the world is constantly in rapid change is the reality.  During the Mobile World Conference (MWC) held in Barcelona this year, everyone is enthusiastic about 5G technology.  Next year, the telecom industry will need to invest deeply in its relevant infrastructure.  Ultimately we still need to count on the academic or research and development institutes to push 5G into commercial application.  Simultaneously, the School should also expedite its research and development to keep up with the pace by reviewing the following:  Do we have enough innovations, or enough advancement?  What is our difference between our competitors?  Even among our internal departments, we should also benchmark internally for the following:  Does the School’s operating model and positioning needs to be readjusted?  How should we maintain cooperative yet competitive relations with other institutes in the world?  For instance, the Group’s affiliate, Far Eastern New Century Corporation (FENC), which acquired the polyester plants in the U. S. during recent years as part of its strategic move.
  
Today marks the 30th anniversary of Yuan Ze University, it is a new milestone, and also the beginning of another challenge.  We should always stay mindful and contemplate about the direction and strategies for the next step.  Additionally, I would also like to share some good news!  The world-renown technology company, Google Inc. will lease a new office complex at Taipei Far Eastern Telecom Park (Tpark) to relocate its R&D and engineering staff.  Tpark will serve as a research and development center.  In addition, the Group also plans to construct a medical, R&D, commercial, and residential complex at its FENC Neili site.  By then, the adjourning campus of Yuan Ze may benefit from the regional advantage to attract more outstanding faculty and relevant resources, and inject more strength in terms of talent cultivation and elevation of national competitive advantage.