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Long-term Development

Long-term Development

 
National Kaohsiung First University of Science and Technology, College of Finance and Banking
「Mid-term school affair development plan during the years from 2010 to 2013」
  1. Introduction
       
    Mission
      With the combination of integrated, forward-looking professional courses and comprehensive departments, and facilities’ own professional background knowledge and resources, we are able to create integrated synergy, and cultivate financial professionals who are able to meet the demands of financial development from area to area together.
       
    Self-identification
      We aim to become a university of science and technology which focuses on both theories and practices, and fulfill the goal of cultivating financial professionals to serve in the industries.
       
    Current situation
      Our departments include department of money and finance, department of risk management and insurance, department of money management, department of accounting and information, graduate institute of money and banking, and Ph.D. program for money management. We also have complete educational systems includes two-year and four-year programs, master, Ph.D. and even EMBA programs. In addition, we were allowed to develop the Ph.D. program for financial management in 2008. Now there are 39 full-time faculties in our college including 6 professors, 17 associate professors, 15 assistant professors and 1 instructor. There are 1217 students pursuing education in our college including 891 undergraduate students, 176 working on the master programs, 176 for the EMBA, and 50 students who are working on their Ph.D. degree.
       
    Features
         
      Teaching
        (1) We focus on both theories and practices, and combine the education of financial professional certificates to boost our students’ professional abilities and competitiveness in the job markets.
        (2) We build “E-Financing Professional Lab” to combine the specialties of our department developments.
        (3) We emphasize computer assist education, case study, and observation and learning in the industries to enhance the effectiveness of learning.
        (4) To ensure our position and self-identification in the industries, we have founded the community of industry consultation. It helps us develop further feature curricula to strengthen our students’ knowledge for the job markets.
        (5) To enhance our vocational education and become more internationalization, we provide professional English courses and some of our courses are also whole English lectures.
        (6) Our faculties who have an abundance of great practical working experiences are able to fulfill the purpose of vocational education which is applying what they have learned.
         
      Research
        (1) We hold academic seminars to enhance the interactions of academic experiences.
        (2) We encourage both our teachers and students actively participate in the academic researches by setting the rewarding regulations about the publishing of articles on the academic journals.
        (3) We combine all of our faculties’ professional knowledge to help us promote the researches in the fields of securities and financial, financial management, risk management, financial engineering and accounting and information.
         
      Service
        (1) We encourage our teachers to interact with enterprises, and we set the regulations about how teachers can serve in the enterprises and reward their further study in both government officials and private companies outside our school.
        (2) To comply with the “Industry-university training personnel training program” promoted by Council of Labor Affairs, Executive Yuan, we aim to recruit excellent professionals in the fields of management, so we would be able to develop more opportunities to collaborate with industries.
        (3) Keep working on the promotion of CFP international finance planning adviser certification programs.
        (4) We actively build up the close collaboration relationship with industries by promoting business to set strategic partnerships.
       
    Vision for the future
      We are trying our best to fulfill the goal which is building a well-established working and learning environment, and faculties and students collaborate to create an outstand college of finance and banking in the upcoming future.
           
 

2. SWOT analysis of our development

       
    Strength
      (1) We have complete educational systems including two-year, four-year undergraduate programs, master programs, EMBA, and Ph.D. programs.
      (2) All of our departments are relevant fields in the main industries which simply indicate that they are able to meet the demands of the industries.
      (3) Our comprehensive curriculum plans aim to cultivate the financial professionals who are able to combine theories and practices.
      (4) We have qualitative faculties and they have rich contacts in the industries.
       
    Weakness
      (1) We are located in the southern part of Taiwan, and it may not be easy to recruit excellent students and professors from the central and northern part of Taiwan.
      (2) We do not have many alumni, and some of them are not well-experienced yet. We still need to raise our visibility in both industries and the financial fields.
      (3) We still need to combine the performance of industry collaboration, researching resources and the researching groups to boost its function.
       
    Opportunity
      (1) Our governments deregulate the rules for faculties to provide services in the industries which enhance the opportunities for both faculties and industries to collaborate.
      (2) Some relevant financial industries are transforming, and they need comprehensive financial professionals. Therefore, it would broaden our students’ careers.
      (3) The Southern Science and Lujuh Science and Technology Parks enhance the industrial developments. Due to we are the nearest national university of science and technology, we hope there would be more opportunities to collaborate with those industries in the future.
      (4) Our own school actively encourages the collaborations between school and industries. By doing so, we can not only boost the contents of teaching and researching from teachers and students but also enhance our college reputation and attract more students to attend our school.
       
    Threat
      (1) The deregulation of founding new departments indicates that we need to compete with more schools, and it has become more and more ambiguous among the identifications of all the colleges of finance and banking. We must combine the resources from departments to departments to build up our own strength for competitions.
      (2) Since nowadays there are more and more different choices for students to attend their ideals schools, and fewer and fewer students choose to purse vocational education. We must face more recruitment problems.
      (3) We are not internationalized enough, and we should never neglect the recruitments from foreign school and the colleges of management from China. As for the future we must strengthen our internationalized competitive abilities.
         
  3. Implementation strategies and programs about developmental features
       
      College organizations and new departments and programs in a long run
         
        Developmental plans for the extensions of existing departments
        (1) To comply with the policies from the MOU, we are going to transform the two-year program in the department of money and banking into the second class for the four-year programs.
        (2) To comply with the “Industry-university training personnel training program” promoted by Council of Labor Affairs, Executive Yuan, we aim to recruit excellent professionals in the fields of management, so we would be able to develop more opportunities to collaborate with industries. 
         
        Plans for the new departments and programs
        (1) Under the policy of controlling the total amount of students, we would develop new four-year programs which are able to meet the demands of the job markets. 
         

Based on the key developments of MOU, we create much more space for relevant departments without the departments of managements.

Under the policy of controlling the total amount of students, we have each of our department offer their own plans of organization divisions.

To comply with the needs of the job markets and our faculties’ professions, we would transform two-year programs into four-year programs to help extend the scale of our college organization.

        (2) We plan to establish new departments with great competitive abilities. 
          We have founded the graduate institute of finance and banking, and institute of quantitative finance to enhance the competitiveness of our departments. 
        (3) We continue promoting financial professional programs, and working hard to advertise. So we can encourage our students actively take relevant programs to enhance their professional knowledge.
       
      Teaching mechanism and plans of students’ consultations 
         
      (1) We have all of our departments collaborate to plan relevant curricula about company financial management, financial engineering, and financial management, and investment insurance products. We also develop feature courses which combine finance, marketing, information management, knowledge of strategy management to train out students as the finance and banking management professionals.
      (2) We actively recruit professional faculties with practical working experiences to complete the abilities of practical teaching and learning to business decision-making capacity. We also widely invite outstanding and influential scholars, experts and government officials to provide speech, forums, and seminars to raise our visibility and enhance the interactions. 
      (3) We hold teaching seminars to boost the teaching methodology and interactions of experiences. We provide rewarding mechanisms to enhance the diverseness, exquisite perspectives, and features. We also support the processing of mult-teaching materials, and we help build up the E-learning platforms of all the departments. 
      (4) We encourage our students to take certificates from the governments or any other relevant associations, so they are able to boost their professional abilities when graduate. We would also integrate the contents or subjects of those certificate exams in the course designing. Meanwhile, we share all the information about relevant certificate exams on the department web pages.
      (5) We arrange the field trip interviews and summer internships regular or from time to time to help our students gain more opportunities to practice. We also consider the feasibility of sandwich courses. In addition, we encourage our professors to conduct case studies in the industries during the vacations. They may even participate in practicing real business to accumulate practical experiences. 
      (6) We build up the bridge for alumina to contact with each other, so it may help us understand their working situation and suggestions for their own departments. By enhancing their cohesion, it would help all the departments in terms of future development and their planning of teaching methodology in the future. 
      (7) We encourage our departments to promote the “Last Mile Job Hunting Programs” to help boost students’ competitiveness in the job markets.
       
      The key points of research and plans of fields 
       
     

In terms of the rapidly changing financial industries, the mission of our college lies in cultivating financial professionals who focus on both theories and practices, with professional certificates, and also meet the demands of the industries. We expect to boost our graduates’ competitiveness in the job markets of the financial field.

The current plans for department developments are as followed: 

         
      (1) The banking field  :The key point lies in financial management, financial innovation, securities investment, money management and some other relevant issues. The plans of fields lie in increasing relevant courses about international financial certificates.
      (2) The financial fieldWe establish researching groups and centers in terms of financial management, investment management, plans of money management, financial engineering and financial analysis. As for the future we would strengthen the development for the fields of international financial management and financial engineering.
      (3) The field of risk managementSo far the key point mainly lies in risk management. The fields include actuarial statistic, quantitative finance, and analysis of industrial insurance, insurance finance, economic insurance, the information about insurance, and policy insurance etc. the field plans lie more in social insurance, policy planning, finance and insurance supervision, and the risk management in the enterprises. 
      (4) The field of accounting and information:We combine financial accounting and knowledge of information management. We focus on (1) the researches of financial accounting, information and the capital markets. (2) The researches of accounting evaluation and internal audit regulations and business management. (3) The researches of accounting management and business policies. (4) The researches of the financial accounting information systems and E-business. 
       
    The plans of school and industry collaboration and developments
         
      (1) We promote the results of research by using E-learning digital teaching platform. It helps us make the most of the professional abilities, and provide the consulting services for industries. It would ensure our ruling position in the financial field.
      (2) With the plans of key specialty cases of our school, we have found professional teaching centers. The purposes of the center are to promote the training of internationalized financial professional certifications, building up the collaboration relationship with relevant financial industries, holding seminars, and we also have some relevant professional institutes to provide courses for our students.
      (3) The department of risk management and insurance has already assigned strategy personnel agreements with several insurance institutions working together to maintain and provide industrial educational training. They also work hard to maintain the collaboration relationship, and provide relevant curricula about risk management, and regularly hold academic seminars. 
       
    We work hard on the planning of recruitments
         
      (1) We recruit outstanding students from every department to form a recruitment group, and we also train students as second fiddle cadres from every department to help the recruitments. Each of our department takes turns to work as the convener as the recruitments. Each department would also allocate some budgets to make the overall recruitment work more smoothly.
      (2) We encourage all of our departments hold the recruitment activities and professional training camps together to raise our department rankings for the entrance exams.
      (3) We continue developing the partnerships with our target schools, and work with the office of research and development in our own school to invite teachers and students from the target schools and cram schools to come to take a visit at our school.
       
    We plan for the international academic interactions and collaborations.
         
      (1) The department of finance has already assigned the academic interaction and collaboration agreement with Fachhochschule Deggendorf-University of Applied Science in Germany. Under the agreement, they are able to share the resources including academic contents, exchanging faculties and students. We are going to strengthen the collaborations and interactions between both parties little by little.
      (2) We collaborate with international industries to hold international conferences and academic seminars, and we also invite financial experts and scholars from our partner schools. We provide short-term financial professional curricula, and actively demonstrate the performances of our research to help both teachers and students absorb more new professional knowledge from foreign countries. That way, we may effectively help all of our departments become internationalized.
      (3) We strive for the opportunities to exchange our students with outstanding departments in foreign countries, and then students are able to pick up new knowledge and skills in foreign countries during their vacations. It would raise all of our departments’ academic reputation and influence worldwide, and attract more high-quality foreign students to pursue education in our school.
      (4) We encourage our graduate school students to participate in the international academic seminars and publish their own journal articles by provide good rewards. We also strive for more budgets to support faculties to pursue further education, participating internationals conferences and publishing their own journal articles. In addition, our school also provides a great deal of money to support facilities’ further education in foreign countries.
      (5) We build up whole English environment to comply with the policies of MOE, and actively extend the quota of foreign students’ recruitments. 
       
    Boost the effectiveness of service
         
      (1) We shorten the time for the professors’ promotion review, and simplify the process of promotion which indicates how active we are in helping professors promote.
      (2) We review how we used our own teaching space, and actively strive for more new space so we would effectively deal with the problems of lacking of enough space.
      (3) We wisely devote the funds to subscribe academic journals and databases to effectively create a good environment for study and services.
      (4) We effectively manage our college computer lab for all the departments in our college to make the most use of our facilities.
       
    Students’ career training
         
      (1) We promote the “Last Mile” program plans to boost our students’ competitiveness in the job markets.
      (2) We focus on students’ job hunting abilities, and we have been working hard to investigate how they search their jobs.
      (3) We encourage students to obtain certificates so it would be helpful in terms of boosting their working abilities.
      (4) We build the bridge to help alumni contact and communicate with each other.
      (5) We comply with the office of student affairs by holding job hunting activities in the school. 
   
  4. The goal of our future development
         
    Future developments
         
      (1) We plan the combination of information technology and professional finance as the main curriculum structures.
        There is an obvious difference of curriculum designs between ours and other colleges’. In addition to the educational programs, we also focus on the combinations and applications of information skills in terms of the professional fields of insurance, finance and business money management.
         
      (2) Projects and summer internships.
        By studying the practical projects, students can not only deeply talk about the cores of the lessons, cultivate students to discover, understand, analysis and solve the problems independently but also provide them opportunities to have internships in the professional financial institutions. They way, we may help students develop their own professional skills which are able to meet the demands of industries.
         
      (3) We encourage students to obtain professional certificates.
        Encouraging students to actively take any professional certificates from the government or relevant associations has always been one of the developmental specialties of our college. It would enhance our graduates’ professional abilities. We integrate the contents and subjects of certificate exams in our course designs, and the department of finance and the department of risk management and insurance are also the educational training certification institutions certified by Financial Planning Association of Taiwan, FPAT.
       
    Implementation strategy
         
      (1) We continue promoting the community of industry consultation to help our departments ensure their own industrial positions. So it would be easier to develop feature curricula, and enhance students’ basic knowledge about the job markets.
      (2) We encourage out departments to strive the “Employment Programs” held by the Council of Labor Affairs, to fulfill the goal of vocational education which is combining what we have learned into real use.
      (3) We hold academic lectures and practice lectures to enhance the interactions between faculties and academics, and help the industries understand more about our college.
      (4) We set the regulations to support fees for students get professional certificates for the sake of boosting their competitiveness.
      (5) We comply with our school by setting the regulations about how teachers can help students with the summer internships; we encourage teachers to arrange students to have internships actively based on the demands of the professional curricula of their own departments.
   
  5. The Gantt Chart of the year’s key work progress
     
    5. The Gantt Chart of the year’s key work progress
   
  6. Key developments for the next four years
       
    (1) We comply with school by actively strive for the new college building.
    (2) We aim to boost both the quality and quantity of the academic research articles. As for the undergraduates, we aim to strengthen the combination of their projects and industrial practices, and improve their abilities of analyzing financial markets. In addition, through the integrations of the teaching and researching resources, we may make the most of the existing researching professionals and facilities to create more forward-looking research plans about the collaborations with the industries. Hope to boost the levels of our academic performance.
    (3) We aim to become the educational certificate institution, and we integrate relevant courses such as CFA, CFP and FRM etc. to cultivate internationalized financial professionals. Students are also able to acquire the knowledge and abilities of international financial certificates.
    (4) We encourage students to obtain international financial professional certificates, and work on the regulations of rewarding students’ certifications. By doing so, we hope to boost our graduates’ professions and international competitiveness.
    (5) We extend the sandwich course collaborations and interactions with industries and financial institutions. We encourage students to have internships in those institutions during their supper vacations which would help enhance the partnerships between school and industries.
    (6) We hold extension education, and we are going to further develop master credit programs and EMBA in the future. We aim to provide professionals from the industries an area to pursue their further education, and become the training center of financial professionals in the southern part of Taiwan.
       
  7. Conclusion
       
      Since January, 2001 the implementation of the law of money management, the financial industries in Taiwan were also established with the trend of those companies, and the revolutions and deregulations of innovative financial products from the governments. All these factors reactivate the overall financial industries. An observation from the future trend of Taiwanese financial industries has given us an idea that the professionals in the fields of securities, futures, financial researches, investments, managements, risk management and insurance would certainly be very hot in the industries.
       
      With the governments’ promotions of international and freeing policies, the industries in our countries have already realized the trends of international business, and many of them are trying to invest factories oversea or making budgets with other foreign countries. Once the international financial interactions are active, people may have the need of risk management. All above have indicated the importance of cultivating international financial and risk management professionals.
       
      With this kind of trend, we aim to establish complete and professional college of finance and banking. Besides cultivating financial professionals, we would also boost the qualities of financial professions in vocational schools. We effectively integrate the faculties’ professions, researching facilities, researching fields and proposals from the departments of financial management, money management, and risk management and insurance to develop integrated and forward-looking professional feature programs. We also focus the integrations from departments to departments. With the collaboration plans among industry, official and school, we extend the practical effectiveness of interactions with the industries. We hope to fulfill the objective of vocational education which lies in the equal importance of combining the theories and practices.