UA and NJUST Signs MOU

SEPTEMBER 2007

Through months of coordination by World Business Excellence Association (WBEA), the Nanjing University of Science and Technology (NUST) and the University of Alberta, School of Business (UASOB) formalizes their partnership by signing a memorandum of understanding (MOU) clearly stating their scope of cooperation.

Since March early this year, WBEA has been working closely with the two universities to establish a Social Entrepreneurship Research Centre based at NUST. This institute was inspired by the Canadian Centre for Social Entrepreneurship based at University of Alberta (UA), currently led by Gary McPherson. The institute will combine education in social entrepreneurship, research and activites in social communities.

Many social enterprises are still under development and remain unattractive to conventional entreprenurs because of its small financial returns compared to its great initial investments. The results may not be as immediate as a business operating strictly based on financial returns. Social entrepreneurs focus on social returns while weighing less importance on monetary values.

WBEA strives to capture the best of both worlds. As our vision states “WBEA will be the educator and facilitator, allowing all entrepreneurs to understand that economic and social returns are not tradeoffs, but compliments of each other.”

The cross country cooperation between NUST and UASOB will enable students to study the possibility of bringing successful Canadian business models to operate in China. Students from Canada and China have much to learn about each other. We hope that through joint programs, students will not only gain experience, but also to exchange ideas about culture and way of life.

WBEA is grateful for the enthusiasm from both universities in establishing this partnership. We are thankful for their support, and look forward to continuouly providing all the necessary reinforcements that contributs to this cooperation.