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Main Contributing Factors For The Success Of Hong Kong In Attracting And Sustaining New Start Companies

7203 words - 29 pages

INTRODUCTIONOrganisations have a perfect 'habitat' where they will flourish and environments in which they will fail . Business type, potential customers and resources will limit the choice of suitable location . Success lies in identifying which location falls under which category. "Choosing the right location can be one of the most important business decisions that you will make" . Hall stresses location importance when searching for creativity and innovation. He describes creativity as a 'knock on effect', causing innovation to spread, similar to Silicon Valley.Entrepreneurship is taken from the French 'entreprendre', translated as 'go-between' or 'to undertake' . Kao defines ...view middle of the document...

Paradigmatic economic changes occurred within, and around the region to cause this. The Asian crisis in 97 had a major impact on the region's growth. Many facets of the business environment impact upon entrepreneurial ventures. The wrong location choice can be costly in terms of time, effort, money and reputation. Re-location is complicated, and location will ultimately determine the success or failure of a new venture . Success enjoyed by Silicon Valley and Route 128 has been attributed to many factors such as networking, experimentation and horizontal communication . An environmental analysis (Appendix 1), provides insight into Hong Kong's suitability for entrepreneurial ventures. I have used 12 criteria to appraise this location, including my conclusion of future considerations and recommendations as to Hong Kong's suitability.KEYADVANTAGES are denoted by blue bullet points.DISADVANTAGES or POTENTIAL PROBLEMS are denoted by red bullet points.FINDINGSLocation"Hong Kong's prime location at the geographical and economic centre of Asia" .Hong Kong has amassed knowledge, expertise, information and facilities necessary to enter these markets, earning the title 'the gateway to China' . Hong Kong's close proximity is advantageous as China has the 2nd largest GNP based on purchasing power parity . Geographically, Hong Kong is close to the Guandong Province, a vast manufacturing area. Some believe that Hong Kong's financial and transportation infrastructure, combined with Guangdong's manufacturing capabilities will create a successful trading network."For accessing markets across the Asia - Pacific region, Hong Kong is centrally positioned and networked" . Hong Kong provides access to other major markets within the Asia - Pacific region, saving companies a substantial amount of time, effort and money.Skilled and well educated workforceWoo believes that Hong Kong must focus on education and nurturing talent to sustain astable and healthy economy.Strong emphasis on education (Appendix 2); free compulsory education till 15. Hong Kong has 44 international schools, operating a wide range of curricula .Kao argues that the organisation must strike an "...appropriate balance between entrepreneurial and managerial attitudes ". Hong Kong's population has a diverse range of skills and many talented international managers , dealing with many different cultures, due to large foreign investment . "There's a thriving local venture capital community and an international pool of IT talent drawn to the buzz and cosmopolitan glamour of the port city" .The 3.39 million labour force has a varied composition. (Appendix 3a)"Hong Kong's workforce is well-educated, computer literate, resilient, flexible and entrepreneurial" . The government claim that the hard working nature of the employees is reflected in the small fraction of time lost to labour disputes .(0.31 days per 1,000 employees)No minimum wage, fluctuates with supply and demand.Hong Kong has trade offices located in...

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