Management Study Program-Faculty of Economics and Business, Universitas Sumatera Utara (USU) held an International Virtual Summer Course 2022 with the theme “Young Generation Personal Financial Management” . This activity took place online through a zoom meeting from August 15th- 27th 2022. A total of 97 students took part in this program with participants from India, Pakistan, Malaysia, Myanmar, Turkey, Thailand, Madagascar, North Cyprus, Sierra Leone, and Indonesia.
On the first day,the event started with an Opening Speech from the Rector of USU, Dr. Muryanto Amin, S.Sos., M.Si and the Dean of the Faculty of Economics and Business USU, Dr. Fadli. After that, Head of Management Study Program - Faculty of Economics and Business USU, Dr. Khaira Amalia Fachrudin, SE, Ak, MBA gave a brief Introduction to the Program. She said personal financial management is very crucial for the young generation because it will improve their financial wellbeing in the future. The outcome of this program is the participants are expected to develop their self-confidence and implement financial well-being throughout their life successfully. The next event was followed by a lecture on the topic “Key Principles in Personal Finance Management'' by Azwadi Bin Ali, Ph.D (Universiti Malaysia Terengganu).
On the second day, Dr. Fekri Shawtari (Senior Lecturer, Community College of Qatar) delivered a lecture on the topic “Financial Well-Being and Financial Satisfaction”. He concluded that wellbeing in general and financial well-being is one of the most critical issues in financial management. After the lecture, the participants had a sharing session. The purpose of this session is to get to know each other better among the participants.
The participants learned about Personality Psychology on the third day. The lecture was delivered by Vivi Gusrini Rahmadhani Pohan, S.Psi., M.A., Ph.D (Universitas Sumatera Utara). “Personality can be defined as an enduring, unique cluster of characteristics that may change in different situations.Differences in gender, ethnicity, and cultural background can influence personality development”, she said.
On the next day, Dr. Sheetal Thomas (Indukaka Ipcowala Institute Of Management) delivered a lecture on the topic “Millennial Tips and Tricks for Financial Management”. In her lecture she said, “ We each must identify the hurdles we’ll face if we are to win the battle against overspending and financial mismanagement. If you don’t identify the hurdles, you’ll just keep tripping over them”. After the lecture,The committee held a game session.
On the fifth day, the participants were delivered a lecture with the topic “Building Brands via Storytelling” by Dr. Rosni Abdul Wahid (Head of Postgraduate Business School,University Kuala Lumpur Malaysia). She explained that Brand storytelling is the emotional transfer of information (opinions, facts, data, ideas, and arguments) through the introduction of a character, plot, and conclusion. Brand storytelling can also define your brand, stand out from your competitors, and makes your brand relatable, believable, and create long term brand loyalty.
On the sixth day, the participants had Assoc. Professor Dr. Maya Puspa (Al Qasimia University Sharjah) as the speaker. In her lecture she covered Online Shopping. “The internet offers benefits which help consumers to become more efficient and effective in online shopping – increasing consumer’s efficiency. Online shopping provides rapid access to product-related information, saving consumers time, effort and money, quality of the product, and shopping experience”, explained Dr. Maya.
On the seventh day, Prof. Arlina Nurbaity Lubis, SE., MBA (Universitas Sumatera Utara) delivered a lecture on the topic “Shop Wisely”. She concluded that In order to shop wisely you have to avoid many of temptation that you might always find anytime, anywhere. You should plan it out before going shopping and stick with the plan and your budget.
On the eighth day, the participants learned about Cashless Payment. The lecture was delivered by Dr. Mohammad Fouad Amin (Head of Islamic Banking and Finance, Senior Lecturer in Saud University, Riyadh, Saudi Arabia). He concluded that cashless payments systems expedite the transformation in financial services. Therefore, Banks and card providers play a key role in the midst of the payment revolution.
A closing ceremony was held on the last day after the final exam. During the closing ceremony, the participants watched all the videos for the creative video competition. Based on the results of the poll, the committee announced Siti Sarah and Nurul Izzati (Malaysia) as the first winner and Farid Haikal Nasution (Indonesia) as the second winner for the creative video competition. “ Video competitions can be used as a momentum in introducing the culture, tourism, and culinary origins of each participant”, the committee added. Meanwhile, for the previous game session Ridwan Firmansyah (Indonesia) and Annisa Ananda Setiawan (Indonesia) came out as the winners.
At the end of the closing ceremony, Dr. Khaira is thankful to the speakers for being involved in this course and hopes to work together again in the future. The participants also gave their impressions of the program. One participant said that although the program only lasts for two weeks, USU, the committee members, and the participants all contributed significantly to its success. And most of the participants hope that the summer course program will be held offline at Universitas Sumatera Utara next year.