GCU Lahore - Cranfield University 3-Year Study Link Programme Concludes

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The GC University Lahore and Cranfield University UK concluded three years academic link program which has helped in solidifying the academic and faculty development of GCU and has led to the development of a new M. Sc courses in Entrepreneurship and Small and Medium Enterprise Management .

The Vice Chancellor GCU Prof. Dr. Khalid Aftab in his address on said that GCU is a unique institution in a sense that it has developed 27 academic and research links with reputed universities of the world including Kent State University, Ohio and Cranfield University UK. He said that GCU was at the top for having highest number of links with foreign universities. He said that the young scholars of the Economics department with the assistance of the renowned British academicians like Prof. Joseph Nellis, Melcolm Harper and Michael Osbaldeston have acquired state of the art skills and in-depth knowledge of the various dynamics of economics and entrepreneur management. He further said that universities across the globe and particularly within a country pool resources in order to raise the productivity level and general efficiency. He also told that a project of inter-varsity sharing of knowledge was in the pipe line in which young scholars of GCU, Indian scholars and scholars from the UK would interact and thus contribute rich treasure of knowledge to the entrepreneur management skills.

Mr. Uzair Ahson while briefing about the history and purpose of the link program told that the program was the second consecutive international higher education link of the Economic department and was launched in 2004 between GCU and Cranfield University under the title "capacity building of small and medium enterprises of Lahore" and its sole purpose was to develop courses to facilitate the process of the entry, survival and growth in the business world, and to train GCU faculty in the respective field to face the futuristic challenges by getting the entrepreneur skills. He also told that four Pakistani scholars of Economics department of GCU and three from UK benefited from the knowledge and experiences each other through mutual exchange bases.

Prof. Joseph Nellis of the Cranfield University UK while expressing his views said that his interaction with the GCU faculty and students under the link program has been very productive and mutually beneficial. He hoped that such links will be continued in future as well as because they not only promote inter-varsity academic work but also lead to inter-cultural harmony and understanding. He also thanked Prof. Dr. Khalid Aftab Vice Chancellor, HEC and British Council for generously funding this inter-varsity project with the noble cause of promoting higher education in Pakistan.

The chief guest of the ceremony Dr. S. Sohail Naqvi Executive Director HEC, while expressing his views lauded the GCU and the Cranfield University for successful completion of three years academic link programme. He also stressed on the importance of adding the entrepreneurship courses in all disciplines for the sake of employment generation and development of Pakistan's economy. He said that HEC was focusing on promoting entrepreneurial capabilities of graduates in Pakistan.

Prof. Dr. Khalid Aftab presented souvenir shields to Dr. Sohail Naqvi, Joseph Nellis, David Monkman, Ms. Nadia Jehangir, Mr. Yasir Butt and Mr. Haroon Rahim.

(21-06-07)

Pro Vice Chancellor Cranfield University lauds Pak Print Media

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Prof. Dr. Joseph Nellis, Pro Vice Chancellor of Cranfield University during his speech on the concluding session of the GCU-Cranfield academic link program highly appreciated the Urdu and English newspapers of Pakistan for giving excellent coverage to the link program and promoting the noble cause of education. He said that before arriving Pakistan, he was warned by the foreign office but contrary to this warning, Pakistan proved a wonderful place to visit and people of Pakistan gave him love, honor and respect. He also said that the best fruit in the world was produced in Pakistan and he commended the variety of mangoes in the country.

(21-06-07)

One Day Workshop on Enterprise Growth Skills: Application of Strategic Management Process for Entrepreneurs

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A one day workshop was arranged under GC University, Lahore-Cranfield Joint Higher Education Link Programme in the Department of Economics, GC University Lahore on April 24, 2007. The link has been established under the collaboration of Higher Education Commission and British Council Pakistan.

This workshop was a part of the activities planned for the third year of this link and focused on developing the enterprise growth skills for entrepreneurs. Mr. Abdul Hamid Malik, Management Consultant and visiting faculty member of the Department of Economics, GC University, Lahore was the resource person. Dr. Khalid Aftab, Vice Chancellor, GC University Lahore, while opening the workshop welcomed the participants and encouraged them to learn new management skills for achieving the competitive advantage in the increasingly competitive global business environment.

Mr. Abdul Hamid Malik, the resource person, explained the entrepreneurial process and various steps involved in the strategic management process to the participants. He described the industry life cycle and asserted on the role of innovation and creativity in attaining and maintaining the sustained competitive advantage. He classified the various organizations as cash cows, star, question mark and dog companies, according to their performance with reference to market share and anticipated growth rates. He also explained the strategies which could be adopted by entrepreneurs to innovate and remain a leader in their respective industries. After his presentation, the entrepreneurs were asked to categorize their companies according to their market shares and growth rates and formulate a strategy to remain at the top among their competitions. The entrepreneurs were assisted by few representative students, teachers, and bankers in this process. The entrepreneurs then gave presentations about their organizations.

This workshop proved to be very helpful for entrepreneurs as well as students to learn from each other in an academic environment. Concluding the workshop session, Dr. Khalid Aftab appreciated the participants and resource person for joining the workshop and highlighted the importance of such activities for mutually beneficial outcomes.

(24-04-2007)

Prof. Joseph Nellis, Pro-Vice Chancellor, Cranfield University visits GCU under Higher Education Links Programme (Phase I)

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This degree programme, started in June 2005 is a major output of the Higher Education Commission Pakistan and British Council Joint Higher education Link Programme (Phase I) between Department of Economics, GC University and School of Management, Cranfield University, UK. While in GC University, Lahore he met with the Vice Chancellor, Dr. Khalid Aftab, faculty members of Economics and Management Studies departments and talked academic and related matters specially curriculum development. Prof. Joseph Nellis also talked to the students of Management Studies Department, and Entrepreneurship and SME Management. The students interacted with the professor and learnt many things from him about business strategy.

On 7th February 2007, he delivered a public lecture on “Winning the Future: Challenges Facing Business in a Global Context” in Bokhari Auditorium GC University, Lahore. The lecture was attended by more than 200 students and faculty members from Kinnaird College, Lahore, FC College University, Lahore and GC University, Lahore. Delegates from Small and Medium Enterprise Development Authority (SMEDA), Bank Alfalah (SME Division), British Council Lahore and other professional bodies were also present on the occasion. In the lecture he said that the globalization and technology were the major trend setters in shaping the world economies of the present day.  The technological breakthroughs have also opened up ample business opportunities for the investor to explore the global markets. He asserted that the “Blue Ocean Strategy” could be helpful in the context of global competition faced by many firms. The blue ocean strategy was followed by many successful firms who avoided the competition by innovating and creating new markets: they made competition irrelevant. He stressed on the importance of incorporating innovation as a focus in new education programmes and advised to closely monitor the trends in international markets. He explained the global drivers of change in the context of technology and markets, and stressed on the repositioning of the firms in international markets.

On the occasion, Dr. Iftikhar Ellahi elaborated the contribution of Higher Education Links Programme for academic institutions in Pakistan and UK. He said that these links were very useful for building the image of Pakistan in global context.

(04-02-2007)

No Progress sans sustainable economic policies: Prof. Ian wood

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Prof. Ian Wooton Head of Economics Department Strathclyde University and  Co-coordinator of GCU-Strathclyde University, UK link delivered the last lecture of his four lectures on ‘governments, multinational and the competition for foreign direct investment: winners and loosers’.

Prof. Ian Wooton described in detail various factors which contribute to the foreign direct investment and inflow of capital in a country and laid down certain courses involved in monitory gains and economic losses for a country. Prof. Wooton said that better economic output is a result of sustainable economic policies whereas negative impact on economy of a country involves certain factors like socio-economic and political de-stability. He further said that the government of any country has to play pivotal role in reshaping her economy on sound ground through holistic economic policies to help improve their economic figure.

Prof. Dr. Khalid Aftab Vice Chancellor thanked Prof. Ian Wooton for his innovative lecture presentations on important economic issues for three consecutive days and hoped that the students would have gained their knowledge and understanding about the global economic markets competitiveness. Later, Vice Chancellor presented a souvenir shield to  the guest speaker. 

Prof. Wooton Speaks on Market Structure in the Service Sector: Imperfect….

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Prof. Ian Wooton, Head of Economics Department, Strathclyde University, UK delivered his lecture on ‘Market structure in the service sector: Imperfect competition and trade liberalization under GATS’. The lecture was a part of the series of the four lectures related to international trade, foreign direct investment and role of governments in the international trade. Prof. Wooton discussed in detail about the market structure in transport and distribution services, goods trade and the effects of liberalization. He also discussed the issues of trade liberalization in the perspective of intermediation between the producers and consumers. He also presented basic trade model and described in detail partial equilibrium structure with four groups of agents  i.e. competitive producers, transport sector, government and consumers. Uzair Ahson Lecturer of Economics Department GCU conducted the proceedings of the lecture.

(18-04-07)

PROF. IAN WOOTON DELIVERED LECTURE ON the current state of debate in the international trade”

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Prof. Ian Wooton, Head of Economics Department, Strathclyde University , UK delivered his first lecture on the topic of “the current state of debate in the international trade”.  The lecture was a part of the series of the four lectures related to international trade, foreign direct investment and role of governments in the international trade.

In his lecture, Prof. Ian Wooton focused on the history of trade theory and evolution of international trading system especially since the Second World War. He also discussed the role of trade in the growth of global income and regional and multilateral trading agreements. He asserted that international trade contributes significantly to the growth of national income, although there are certain issues related to non-tariff barriers to trade in both developing and developed economies. He explained some of his important research findings to audience and responded to their questions.

Later Prof. Ian Wooton met with the Vice Chancellor and discussed matters pertaining to the strengthening of GCU-Strathclyde University academic links. 

(17-04-07)

Prof. Ian Wooton will Deliver Invited Lectures under Joint Higher Education Links Programme, Phase II

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Prof. Ian Wooton, Head of Economics Department, Strathclyde University, UK is visiting Department of Economics GC University Lahore from 14th to 20th April 2007 under HEC-British Council Joint Higher Education Links Programme (Phase II). During his stay, Prof. Ian Wooton will deliver a series of lectures on the topics of International Trade, Globalisation, and Foreign Direct Investment, apart from other link activities. The schedule of these lectures is as follows:

Monday, 16th April 2007

“The Current State of the Debate in International Trade”

Timings:  11:00 A.M (1 hour)

Venue: Fazl-e-Hussain Reading Room, GC University, Lahore.

Tuesday, 17th April 2007

“Market Structure in the Service Sector: Imperfect Competition and Trade

Liberalization under GATS”

Timings: 11:00 A.M (1 hour and 30 mins)

Venue: Fazl-e-Hussain Reading Room, GC University, Lahore.

Wednesday, 18th April 2007

“Trade and Competition Policy with Special Reference to Regional Integration”

Timings: 02:30 P.M (1 hour and 30 mins)

Venue: Fazl-e-Hussain Reading Room, GC University, Lahore.

Thursday, 19th April 2007

 “Governments, Multinationals, and the Competition for Foreign Direct

Investment: Winners and Losers”

Timings: 11:00 A.M (1 hour and 30 mins)

Venue: Fazl-e-Hussain Reading Room, GC University, Lahore.

Faculty members and economists from other universities and organizations are also being invited to participate in these lectures for a wider dissemination of information.

It is to pertinent to mention that GCU Lahore has not only established academic and collaborative research links with world reputed research  institutions and University but also implemented these agreements practically in order to benefit from the centuries -long  scientific experiences of these institutions and Strathclyde university  is one of them. The Strathclyde University is not the alma-mater of the incumbent Vice Chancellor of GC University Lahore Prof. Dr. Khalid Aftab but also a place where he used teach once .He got his Ph. D degree from the same university and afterwards he was offered a position to teach in the same university on account of outstanding research during Ph.D.

(12-04-07, 14-04-07)

PROF. JOSEPH NELLIS DELIVERS A SPECIAL LECTURE AT GCU

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Prof. Joseph Nellis, Pro-Vice Chancellor, Cranfield University UK delivered a special lecture at Bokhari Auditorium of the GC University Lahore. He also called on VC GCU at his office and exchanged view regarding promotion of educational matters.

While delivering the lecture he said that globalization and global alliance are the major trend setters in shaping the world economies of the present day with the advanced technology in place and technological breakthroughs have opened up ample business opportunities for the investors to explore in the global markets. He asserted that the blue ocean strategy extended sufficient ground to the business circle to excel their businesses on profit taking basis. He also stressed the need to focus on education priorities as they played pivotal role in making oneself aware of the certain modulations that help in augmenting better academic potential and economic output.

He further said that developing countries produced 33 million graduates annually referring to the rising standards of the education across the world which was quite near to the whole population of the European Union countries. He also highlighted the global drivers of change and discussed the merging new business realities. He said the best companies with network alliance would be successful in future. Citing an example, he said that 300 million people in China had come out of the poverty line and the present rate of economic development of china would further boost their economy on stronger footing.

Dr. Iftikhar Elahi, Director British Council Lahore said on the occasion that British Council was supporting the Higher Education Links programmes for collaboration among Pakistani and UK universities and also endorsing all out help for the successful completion of the projects.

Prof. Dr. Khalid Aftab thanked Prof. Joseph Nellis for his thought provoking lecture and presented a shield to him to mark the occasion.

(08-02-2007)

GCU CRANFIELD UNIVERSITY UK JOINT EDUCATION PROGRAMMES ACHIEVEMENTS PRESENTATION ON 7^TH FEBRUARY

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Prof. Joseph Nellis, Pro Vice Chancellor of Cranfield University UK and Coordinator GCU Cranfield University Joint Higher Education Link Programme will deliver a lecture at the Bokhari Auditorium of the GC University on February 7. This three-year GCU Cranfield University Joint Higher Education Link Programme was launched in 2004 and would continue till 2007.

Prof. Dr. Khalid Aftab Vice Chancellor GC University, Lahore would also speak on the occasion. A detailed presentation on Higher Education Commission-British Council Link and its achievements will be delivered by Uzair Ahson, the Assistant Link Coordinator of the programme. The presentations would be followed by question answer session.

(03-02-2007)

Entrepreneurship and SME Management (ESME)

Introduction

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The Department of Economics, GC University Lahore has started this programme in Entrepreneurship and SME Management (ESME) under HEC-BC Joint Higher Education Link Programme 2004-07, in collaboration with School of Management, Cranfield University, UK. The Cranfield School of Management provides its expertise to develop and review the course structure and teaching materials. This is a two years Masters degree programme; however; a student can also do the One year postgraduate diploma after successful completion of first year of the study (the student will have to inform in writing whether he/she is enrolled in PGD or MSc in the beginning of the course).

Objectives of the Programme

The programme is designed for those who wish to become owner-managers by starting their own business ventures. It will also cater to the skill-needs of practicing entrepreneurs, business consultants and bank officials dealing with the SMEs.

What are SMEs?

SMEs are not that as small as commonly perceived.

The Prudential Regulations for SMEs Financing (issued by State Bank of Pakistan) define SMEs as:

“Small and Medium Enterprise (SME) means an entity, ideally not a public limited company, which does not employ more than 250 persons (if it is manufacturing / service concern) and 50 persons (if it is trading concern) and also fulfills the following criteria of either ‘a’ and ‘c’ or ‘b’ and ‘c’ as relevant:

(a) A trading / service concern with total assets at cost excluding land and building upto Rs 50 million.

(b) A manufacturing concern with total assets at cost excluding land and building upto Rs 100 million.

(c) Any concern (trading, service or manufacturing) with net sales not exceeding Rs 300 million as per latest financial statements.

An Individual, if he or she meets the above criteria, can also be categorized as an SME.”

(Source: Prudential Regulations for SMEs Financing (Up-to August 31, 2005) pp. 13-14 available at: 

http://www.sbp.org.pk/publications/prudential/index.htm).

Why are SMEs Important?

SMEs play a vital role in the process of economic development of an economy, Pakistan being no exception here. SMEs are strategically important because they help create linkages among various firms, generate employment, and develop new customized products.

SMEs constitute nearly 90% of all the enterprises in Pakistan; employ 80% of the non-agricultural labor force; and their share in the annual GDP is 40%, approximately. Similarly they have a large share in exports of Pakistan and earn valuable foreign exchange.

For detailed information on SMEs, relevant policy documents and banks, please visit:

www.smeda.org

www.smepolicy.net.pk

www.smebank.org

Admission to the Programme

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Admission to this programme starts in end-August of each year, as per University admission policies and procedures. For eligibility, please see the details below.

Eligibility

There will an entry test (Objective type), which will be conducted by the department. An essay will also be a part of entry test to judge the English proficiency of the candidate. The test will be followed by an interview.

Why this New Programme:

Entrepreneurship is about starting one’s own business. Creativity, pragmatism, risk taking, and decision making lie at the heart of entrepreneurship. The courses being taught have been designed specially to equip students with the skills for

(a)   Starting their own business, and

(b)   To play key role in the development of Small and Medium Enterprises (SMEs), and new ventures.

The usual management degrees like MBA or MPA focus on business administration of running concerns, operating usually at larger scales. ESME at GCU is not just another degree in management. The ESME programme, quite differently than the conventional management degrees, focuses on the ability of students and budding entrepreneurs to take strategic risks and venturing on to explore new dimensions of business world.

Similarly, there is now a realisation on the part of the Government and State Bank of Pakistan that SMEs need additional focus. So new specialised banks like SME Bank (www.smebank.org) are being established and other commercial banks are also establishing their own SME Divisions. Hence, the demand for skilled professionals trained to deal with SMEs is rising and this new degree is need of the hour. Moreover, as the Pakistan economy is developing fast and experiencing a structural transformation towards knowledge based production processes, so the new programmes like ESME are needed for educating people for tomorrow.