tag:blogger.com,1999:blog-70841573629506012472024-03-05T16:06:48.490-08:00The Catalysts"The Catalysts" is for people who want to make a difference.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-7084157362950601247.post-81013854763847606932016-10-21T05:20:00.000-07:002016-10-21T05:29:10.757-07:00Political paralysis is no excuse for inaction: Role of Business and Philanthropists <div class="separator" style="clear: both; text-align: center;">
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<span lang="EN-US">Hong Kong is facing an unprecedented political gridlock. Yet amidst all the economic, social and environmental challenges, the city is ill afford to stay put. It is high time for businesses, philanthropists and foundations to provide the impetus for change.</span></div>
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<span lang="EN-US">The economic and social well being of a community is closely intertwined with business performance and profitability. More and more businesses now understand that CSR as a marketing concept is no longer adequate. To attain sustainable growth, business has to first and foremost address the needs of a society and give due regard to the interests of multiple stakeholders. ‘Doing good’ is not a responsibility and an after thought, but a pre-requisite to ‘doing well’. Such belief has led more and more business leaders taking a more proactive role in addressing economic and social challenges. </span></div>
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<span lang="EN-US">Unilever and GE are clear examples of how business turn social and environmental problems into new business opportunities through innovative offerings and practices. </span></div>
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<span lang="EN-US">The <i>Itasca Project</i> in </span><span lang="EN-US">America’s Minneapolis–Saint Paul region demonstrates how business can work together for the collective good. Established in 2003, it is an employer-led alliance seeking to revive the economic competitiveness and the community well being of the region. Working closely with government, educators and NGOs, business leaders lead task forces on key strategic issues such as generating quality job-growth and forging stronger collaboration between business and universities.</span></div>
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<span lang="EN-US">Mark Zuckerberg led a new approach to philanthropy by creating a limited liability company for for-profit investing </span><span lang="EN-US" style="color: #262626;">in new technologies and public policy advocacy to solve the world’s biggest challenges.</span><span lang="EN-US"></span></div>
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<span lang="EN-US">Traditional philanthropists and foundations can also become drivers of change by investing in startups that can make a difference. Earlier this year, the Rockefeller Foundation and Unreasonable Institute in the US launched the ‘Future Cities Accelerator’ to encourage </span><span lang="EN-US">revolutionary solutions to complex urban problems.<span style="color: #434343;"></span></span></div>
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<span lang="EN-US">Hong Kong has a vibrant business community, the largest number of HNIs in Asia and a strong tradition as a free wheeling community. The current political stalemate should not be an excuse for doing nothing. The above international best practices have shown that:</span></div>
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<li><span lang="EN-US" style="font-size: 12pt; text-indent: -18pt;">Business can take the leadership in driving economic and social prosperity. </span><span style="font-size: 12pt; text-indent: -18pt;">The dividing line between for-profit business and NGOs (or social enterprises) are blurring. </span></li>
<li><span style="font-size: 12pt; text-indent: -18pt;">Philanthropists and foundations should innovate their charity giving approach by supporting for-profit </span><span style="font-size: 12pt; text-indent: -18pt;"> </span><span style="font-size: 12pt; text-indent: -18pt;">startups in creating innovative and sustainable social changes. More funding also needs to go into public policy research.</span></li>
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Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com2tag:blogger.com,1999:blog-7084157362950601247.post-21691468366249184322016-10-21T05:14:00.000-07:002016-10-21T05:14:23.857-07:00How relevant is R&D spending to innovation development?<div class="separator" style="clear: both; text-align: center;">
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<span lang="EN-US" style="font-family: Calibri;">Hong Kong’s ability to reinvent itself as an innovation-led economy is in the spotlight again, in the wake of the latest release of the World Economic Forum’s Global Competitiveness Index. There are calls from various quarters that Hong Kong has to increase its spending in research, scientific and technology development (commonly referred to as R&D). </span></div>
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<span lang="EN-US" style="font-family: Calibri;">It should be clearly understood that technology is but one element of innovation. Hong Kong should ride on its unique DNA as a service economy and a trading hub in its pursuit of innovation. Li & Fung, Lan Kwai Fong, HKBN and startups like Go Go Van and Handy are good examples of service, process, customer experience, management and business model innovation. </span></div>
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<span lang="EN-US" style="font-family: Calibri;">Some believe that reindustrialization can help spearhead innovation. The reality is that service inputs make up an increasing proportion of manufacturing activities. Instead of bringing in more production lines, Hong Kong should continue to offer manufacturing services – albeit with a stronger dose of innovation. This also means that STEM education is important, probably not because we need more engineers but more </span><span lang="EN-US" style="font-family: Calibri;">designers, lawyers, accountants, marketers and business development specialists who can understand and commercialise technology.</span></div>
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<span lang="EN-US" style="font-family: Calibri;">If technology is not the only innovation driver, heavier investment in R&D should not be a pre-requisite to innovation development. </span><span lang="EN-US" style="color: #0c0c0c; font-family: Calibri;">Creating value in the 21<span style="top: -4pt;">st </span>century is not about ownership but the sharing of knowledge.</span><span lang="EN-US" style="font-family: Calibri;"> </span><span lang="EN-US" style="font-family: Calibri;">Countries are trading patents, copyrights and other intellectual property. <span style="color: #0c0c0c;">With the exception of the US, Japan, the UK, Germany, and </span> <span style="color: #0c0c0c;">France, all other OECD countries obtain over 90 percent of their productivity growth from ideas that originated abroad. The key to innovation is therefore not so much the amount of R&D spending but the ability to scout for, integrate and commercialise new ideas and inventions. In order to do this, </span></span><span lang="EN-US" style="font-family: Calibri;">Hong Kong should further enhance its understanding of the global markets and broaden its international network. This is also the most that Hong Kong can contribute to China’s high tech development.</span><span lang="EN-US" style="font-family: Calibri;"></span></div>
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<span lang="EN-US" style="font-family: Calibri;">Hong Kong is an ideal test bed for new products and services. </span><span lang="EN-US" style="font-family: Calibri;"> To catalyse innovation development, we should create demand for innovation to thrive. The government, businesses, universities and foundations should start t</span><span lang="EN-US" style="font-family: Calibri;">o create challenge funds, innovation prizes and demonstration projects and seek innovative solutions from around the world. Hong Kong should aspire to become the role model for innovative and sustainable solutions for densely populated cities.</span></div>
Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-65487079554253913642016-09-01T01:05:00.004-07:002016-10-21T05:10:31.005-07:00Do HK Startups have the ambition for the global market? (Chinese only)<!--[if gte mso 9]><xml>
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<span style="font-size: large;"><b><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"><b><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">香港初創企業</span></b><b><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"> </span></b><b><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">有否打入</span></b><span lang="ZH-TW" style="font-family: "songti tc";">國際市場的野心?</span></span></b></span></div>
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<b><span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc";">初創企業</span><span lang="EN-US" style="font-family: "songti tc";"> </span><span lang="ZH-TW" style="font-family: "songti tc";">缺乏國際市場潛力 </span></span></b></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixz4CrdTuY3hnZuRmlTT-czFr8SOdOhZYL0v2tipfSZWgCerpc8sRAL_OLyv2VJ72O8MHufEeF-eioa4QzZKvg5uPTHYnQyGTBHJQWCtcBUfXxIbmjB9IHNoSGlWW9swaSM-QsTnbKv4y2/s1600/thumb_j0438467_1024.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-size: large;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixz4CrdTuY3hnZuRmlTT-czFr8SOdOhZYL0v2tipfSZWgCerpc8sRAL_OLyv2VJ72O8MHufEeF-eioa4QzZKvg5uPTHYnQyGTBHJQWCtcBUfXxIbmjB9IHNoSGlWW9swaSM-QsTnbKv4y2/s200/thumb_j0438467_1024.jpg" width="200" /></span></a><span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc";">根據以三藩市為基地的</span><span lang="EN-US" style="font-family: "songti tc";">Compass</span><span lang="ZH-TW" style="font-family: "songti tc";">在上年</span><span lang="EN-US" style="font-family: "songti tc";">7</span><span lang="ZH-TW" style="font-family: "songti tc";">月發布的</span><span lang="EN-US" style="font-family: "songti tc";">2015</span><span lang="ZH-TW" style="font-family: "songti tc";">年全球生態系統排名,香港在全球發展最快的新創企業生態系統中排名第五位,總體排名則為全球第</span><span lang="EN-US" style="font-family: "songti tc";">25</span><span lang="ZH-TW" style="font-family: "songti tc";">位。</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"> 「香港是完全能夠發展強大的新創企業生態系統,但創業者必先提升國際化及視野。」這是</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">Compass</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">在</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">2016</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">年</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">1</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">月</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">29</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">日發布關於香港新創企業生態報告的最重要訊息。許多投資者認為香港新創企業生態系統看似缺乏風險資本,其中最重要原因便是缺少具國際市場潛力的初創企業。</span><span lang="EN-US" style="font-family: "songti tc";"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">筆者最近擔任一個本地初創企業比賽的評判,在</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">30</span><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">隊決賽隊伍中,幾乎沒有一隊有打入亞太區域或國際市場的計劃或野心。跟據一些非正式的統計,現時香港大約一半的初創企業是外藉或是曾在海外升學或就業回流到港的人士,而這些企業也是較國際化。香港作為一個小型城市,再加上在全球化經濟體驗系下,「走出去」是不容置疑的。但過去十多年,除了這金融行業外,香港似乎跟「國際化」的距離愈來愈遠。相反鄰近的新加坡與國際接軌的速度,無論在企業或是政府層面,都有著神速的發展,作為帶動城市發展的火車頭。
「聯繫力」是全球化、數碼化和知識經濟的新貨幣。其實,香港作為一個國際貿易中心,應有足夠條件發展其「超級聯繫人」的角色,將世界各地的構想、資本、人才、生產設施和市場連起來
。</span><span lang="EN-US" style="font-family: "songti tc";"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><b><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">吸納創新方案</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"> </span></b><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"><b>香港不比新加坡進取 </b> </span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">提及新加坡,很多人希望香港特區政府能更積極協助初創企業發展</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial;">。既然缺乏風險資本不是一個基本問題,那政府其實可以做甚麼呢?近年投資推廣署積極推動香港作為初創企業之都,功不可沒;但光是一個部門的熱誠和努力,當然是不足夠。若各公營部門能扮演</span><span lang="EN-US" style="font-family: "songti tc";"> </span><span lang="ZH-TW" style="font-family: "songti tc";">「需求創新者」的角色,在採構制度下,能容許空間與新創企業合作,對本地初創企業的發展,一定幫助不少。</span><span lang="ZH-TW" style="font-family: "songti tc";">新加坡政府在這一方面,便比香港更積極進取。香港一初創企業便曾經向筆者透露,正當創辦人不停被公營部門婉拒,新加坡政府卻對其創新方案大感興趣,主動邀請他往獅城提供服務。</span><span lang="EN-US" style="font-family: "songti tc"; mso-bidi-font-family: Arial;"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc"; mso-bidi-font-family: Arial; mso-fareast-language: ZH-TW;">此外,政策制訂者與規管者要明白新創企業的營商本質,在確保公眾利益獲得保障的大前題下,應與時並進,容許打破舊有模式的創新行為。中國內地和新加坡政府在金融科技規管上的進取,便相當值得香港參考。</span><span lang="EN-US" style="font-family: "songti tc";"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><b><span lang="EN-US" style="font-family: 新細明體;">台灣新創競技場</span></b><b><span lang="ZH-TW" style="font-family: 新細明體;">:世界就是你的競技場!</span></b></span></div>
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<span style="font-size: large;"><span lang="ZH-TW" style="font-family: 新細明體;">除了新加坡,</span><span lang="EN-US" style="font-family: 新細明體;">台灣</span><span lang="ZH-TW" style="font-family: 新細明體;">亦非常積極推動初創企業國際化。</span><span lang="ZH-TW" style="font-family: 新細明體;">於</span><span lang="EN-US" style="font-family: ProximaNova-Light;">2014</span><span lang="EN-US" style="font-family: 新細明體;">年核定的「創業拔萃方案」,其三大策略包含積極排除法規障礙、引入國際專業資金、打造國際創新創業園區</span><span lang="ZH-TW" style="font-family: 新細明體;">。</span><span lang="ZH-TW" style="font-family: "songti tc";">以</span><span lang="EN-US" style="font-family: "songti tc";"> “The World is Your Stadium!” </span><span lang="ZH-TW" style="font-family: "songti tc";">作為口號,去年成立的</span><span lang="EN-US" style="font-family: 新細明體;">台灣新創競技場的任務便是協助台灣初創企業發展國際業務</span><span lang="ZH-TW" style="font-family: 新細明體;">,</span><span lang="EN-US" style="font-family: 新細明體;">建構國際化科技創業的微型生態圈。</span></span></div>
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<span style="font-size: large;"><b><span lang="ZH-TW" style="font-family: "songti tc";">連起各界</span><span lang="EN-US" style="font-family: "songti tc";"> </span><span lang="ZH-TW" style="font-family: "songti tc";">推動科研商業化</span></b><span lang="EN-US" style="font-family: "songti tc";"><o:p></o:p></span></span></div>
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<span style="font-size: large;"><span lang="ZH-TW" style="font-family: "songti tc"; font-size: 12.0pt;">最後,社會上有不少聲音認為香港須加大科研的投資和科技人才的培養 。</span><span lang="EN-US" style="font-family: "songti tc"; font-size: 12pt;">香港雖然長遠需要發展科學、技術和研究能力 ,但</span><span lang="EN-US" style="font-family: "songti tc";">其實香港是不乏世界頂級科硏人才</span><span lang="EN-US" style="font-family: "songti tc"; font-size: 12pt;">,</span><span lang="EN-US" style="font-family: "songti tc";">我們缺乏的是把科硏商業化的能力。如以此角度看</span><span lang="ZH-TW" style="font-family: "songti tc";">,</span><span lang="EN-US" style="font-family: "songti tc";">香港不僅需要更多技術優才</span><span lang="ZH-TW" style="font-family: "songti tc";">,</span><span lang="EN-US" style="font-family: "songti tc";">還需要設計師、產品開發與行銷專才,了解技術與創新的專家</span><span lang="ZH-TW" style="font-family: "songti tc";">,</span><span lang="EN-US" style="font-family: "songti tc";">以及商業化的專家。
換而言之,香港是需要提升整個社會不同界別人士對創新的興趣,認知與能力。</span><span lang="ZH-TW" style="font-family: "songti tc"; font-size: 12pt;">這當然不是一朝一夕可以做到,但卻是刻不容緩</span><span lang="ZH-TW" style="font-family: "songti tc"; font-size: 12pt;">。其中最重要的,還是香港人需要提升我們的國際視野和網絡,做個世界級</span><span lang="ZH-TW" style="font-family: "songti tc";">「超級聯繫人」</span><span style="font-family: "songti tc";">!</span><span lang="EN-US" style="color: #3f3f3f; font-family: "songti tc"; font-size: 12.0pt;"><o:p></o:p></span></span><br />
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<!--EndFragment-->Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-7162748369183145392016-09-01T00:53:00.000-07:002016-09-01T00:55:35.503-07:00<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
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<b>Hong Kong as a Startup Hub: Mavens, Connectors and Salesmen</b></h2>
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US"><br /></span></i></b>
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">Hong Kong as a Startup Hub in a Network Economy<o:p></o:p></span></i></b></div>
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<span lang="EN-US">(This article is an extract from </span><span style="text-align: center;"><span lang="EN-US"><a href="https://www.sef.hku.hk/events/Ecosystem/startup/positioning/Final_Eng_VerA_nocrop.pdf">HONG KONG AS A STARTUP HUB: Mavens, Connectors and Salesmen </a>published on 29 Jan 2016 by Prof Richard Wong, K C Kwok and Rachel Chan.)</span></span></div>
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<span lang="EN-US" style="font-family: "cambria";">Each startup ecosystem is unique with its own
economic, social and political underpinnings.
Hong Kong could not emulate directly the success of Silicon Valley, or
that of other startup hubs in the world. </span><!--EndFragment-->
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<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">Hong Kong Needs More Than Tech Talents<o:p></o:p></span></i></b></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqoLeyVd4qDsErHnLQWD_ahgpuAAAS77V_zTRgpqIBL0ngNY-sPS9sbSzH018p8Ak4ytpNw3ChJAn6DaoH5imcC1qVmQ0weuogPz8vQa0YS74WXuzqljvUhjFnARE2J4cHsRGn3byL2_s1/s1600/thumb_IMG_0227_1024.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgqoLeyVd4qDsErHnLQWD_ahgpuAAAS77V_zTRgpqIBL0ngNY-sPS9sbSzH018p8Ak4ytpNw3ChJAn6DaoH5imcC1qVmQ0weuogPz8vQa0YS74WXuzqljvUhjFnARE2J4cHsRGn3byL2_s1/s200/thumb_IMG_0227_1024.jpg" width="200" /></a><span lang="EN-US">Globalization and technology have made it much easier nowadays for people from
different locations to work and collaborate with one another. </span><span lang="EN-US">It also means that i</span><span lang="EN-US">t does not matter where
scientific discoveries and breakthrough technologies originate — the important
thing is who commercializes them. </span><span lang="EN-US">Seen from this perspective, Hong Kong needs not just more tech
talents, but also designers, product development and marketing specialists as
well as professionals who understand technology and innovation and are experts
in commercialization. </span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">Not So Much About Funding – But Capacity Building<o:p></o:p></span></i></b></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-US">Many stakeholders believe that the seemingly lack of risk capital is
just a symptom of the early stage development of the Hong Kong startup
ecosystem.<span style="mso-spacerun: yes;"> </span></span><span lang="EN-US" style="mso-bidi-font-family: Arial;">Hong Kong should invest in attracting global accelerators to Hong Kong and
developing special access for local startups in accelerator programs located in
top startup ecosystems. <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="mso-bidi-font-family: Arial;">Positioning Hong Kong <o:p></o:p></span></i></b></div>
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<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-US">Hong Kong is a city that works and <i style="mso-bidi-font-style: normal;">works fast</i>. It is well positioned to be an accelerator for startups
to build and scale their international business and to realise their global
ambitions. Hong Kong should:</span></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
</div>
<ul>
<li><b style="text-indent: -18pt;"><span lang="EN-US" style="color: #1b1718; mso-bidi-font-family: Helvetica;">Plays to its
strengths as a service economy</span></b><span lang="EN-US" style="color: #1b1718; text-indent: -18pt;">: Innovation (whether it is technology or
non-technology related) is likely to accelerate in many services, </span><span lang="EN-US" style="color: #1a1a1a; text-indent: -18pt;">within
the service sector itself as well as through the “servitisation” of the
manufacturing industry. </span><span lang="EN-US" style="color: #1b1718; text-indent: -18pt;">Hong Kong is a service economy, and should take pride
in and ride on its achievements.</span></li>
<li><span style="text-indent: -18pt;"><span lang="EN-US"><span style="color: #0e0e0e;"><b>Be</b> </span><b>A Super Connector to the World</b></span></span><span lang="EN-US" style="color: #0e0e0e; text-indent: -18pt;">: Connectivity is the new
currency in a globalised, digital and knowledge economy. </span><span lang="EN-US" style="text-indent: -18pt;">In a network economy, Hong Kong is well positioned to play the role
of a ‘Super Connector’ in linking ideas, capital, talents, production
facilities and markets.</span></li>
<li><span style="text-indent: -18pt;"><span lang="EN-US"><b>Serve as a Test Market</b></span></span><span lang="EN-US" style="text-indent: -18pt;">: Hong Kong is an ideal
place for market validation – for both B2C and B2B businesses.</span><b><i><span lang="EN-US"><o:p> </o:p></span></i></b></li>
</ul>
<br />
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">Catalysts for Growth<o:p></o:p></span></i></b></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<br /></div>
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-US">To fully realise Hong Kong’s potential as a startup hub, different players in the ecosystem need to build and strengthen their global
footprints and connections. Hong Kong also has to strengthen its role as a
“Customer” of innovation. </span><span lang="EN-US" style="mso-fareast-language: ZH-HK;">Both the private and the public sectors need to see the value of working
with startups as their innovation partners.</span><span lang="EN-US"><o:p></o:p></span></div>
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<span lang="EN-US">Policy makers and regulators have to understand the nature of
startup businesses, striking a balance between enabling disruption to happen
and ensuring that public interests are protected. </span><span lang="EN-US">T</span><span lang="EN-US">he Hong Kong startup
ecosystem should not be restricted by the geographical confines of the HKSAR
but is intimately connected with the ecosystems in the Pearl River Delta and to
the world. </span></div>
Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-87148692773991335532015-03-15T07:29:00.001-07:002015-03-15T17:59:20.582-07:00What is a startup?<span class="Apple-style-span" style="color: #444444; font-family: Calibri; font-size: 16px; line-height: 22px;"></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsjrIyJVhZVofsZGc5bNvnRJyOdgkmEs-gpyvUqpl8VsIZoNSsUdM4kC5U33P5e3hKkXTNjPiela1myNVMgeGu70hSGx5oOndwAxKCTeDXMxqvX5vp7EbgrmJIynsMFR30Oef2iSV3Vb3P/s1600/2012-09-16+14.57.47.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsjrIyJVhZVofsZGc5bNvnRJyOdgkmEs-gpyvUqpl8VsIZoNSsUdM4kC5U33P5e3hKkXTNjPiela1myNVMgeGu70hSGx5oOndwAxKCTeDXMxqvX5vp7EbgrmJIynsMFR30Oef2iSV3Vb3P/s1600/2012-09-16+14.57.47.jpg" height="150" width="200" /></a><span lang="en-US" style="font-family: Arial, Helvetica, sans-serif; line-height: 22px;">What exactly is a startup? Most people in Hong Kong equate startups with entrepreneurs, and more specifically many think that startups are newly established businesses. This should not be the case.</span></div>
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<span lang="en-US" style="line-height: 22px;">Startups should be able to provide an innovative solution to a real problem. They should have a scalable business model and carry high growth potential. The innovation does not necessarily have to be technological, it can be innovation in the business process, business model, customer experience or even in the way the business is managed. Yet technology very often plays an important role in enabling the startup business to scale.</span></span></div>
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<span lang="en-US" style="line-height: 22px;">Startups are growth engines of every society, as they create substantial economic and social benefits. Cities around the world are vying to be the next Silicon Valley or the next Startup Nation (Israel). </span><span lang="en-US" style="line-height: 22px;"> </span><span lang="en-US" style="line-height: 22px;">Hong Kong is the </span><span lang="en-US" style="line-height: 22px;"><i style="font-style: italic; line-height: 22px;">freest </i></span><span lang="en-US" style="line-height: 22px;">economy in the world with </span><span lang="en-US" style="line-height: 22px;"><i style="font-style: italic; line-height: 22px;">rule of law</i></span><span lang="en-US" style="line-height: 22px;">. It is </span><span lang="en-US" style="line-height: 22px;"><i style="font-style: italic; line-height: 22px;">fast</i></span><span lang="en-US" style="line-height: 22px;"> and </span><span lang="en-US" style="line-height: 22px;"><i style="font-style: italic; line-height: 22px;">efficient.</i></span><span lang="en-US" style="line-height: 22px;"> It is a compact city with a small but sophisticated market, which is ideal for prototyping innovative solutions. All these attributes are very favorable to the development of startups. Many people attribute the high rental in Hong Kong as the major barrier to the development of startups. This is actually an exaggeration. If we understand the nature of startup business, the rental is never a major cost component. The high rental will only be an issue if one aspires to open a retail outlet in the main commercial districts – yet these are not startup businesses.</span></span></div>
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<span lang="en-US" style="line-height: 22px;">In moving up the value chain, Hong Kong has good potential to become a startup hub of Asia Pacific – not just for the home grown ones but also as the platform for Mainland and overseas startups to scale their businesses globally. The Financial Secretary has announced a package of measures to support the growth of startups in Hong Kong. The Government does have a role to play in enabling the development of startups. However, money (or the lack of it) is not the the crux of the issue. Investors are hungry for deals and money will come where there is a critical mass of good deals. The Government should not play the role of investors.</span></span></div>
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<span class="Apple-style-span" style="font-family: Arial, Helvetica, sans-serif;"><span lang="en-US" style="line-height: 22px;"><br /></span>
<span lang="en-US" style="line-height: 22px;">Yet the Government has the responsibility to provide a startup-friendly policy, notably a visa policy that can enable startup talents to come to Hong Kong easily.</span><span lang="en-US" style="line-height: 22px;"> </span><span lang="en-US" style="line-height: 22px;">Given the disruptive nature of startups, Hong Kong needs a regulatory regime that can allow innovation to happen. Equity crowd funding is a case in point.</span><span lang="en-US" style="line-height: 22px;"> </span><span lang="en-US" style="line-height: 22px;">Whilst the Singapore Government is facilitating the development of equity crowd funding, the Hong Kong authorities have yet to adopt a clear policy. The Government should also step up its marketing role with unifying messages across all departments and quasi-government agencies – in promoting home grown startups with high growth potential and also Hong Kong as a startup hub in the region. </span></span></div>
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<span class="Apple-style-span" style="line-height: 22px;"><span lang="en-US" style="font-family: Arial, Helvetica, sans-serif; line-height: 22px;">Finally, Government has a vital role to play in strengthening entrepreneurial education in our schools. Our children need to understand from a young age what it means and takes to be a startup. It does not mean that every child will grow up to run startups. But a good entrepreneurship education will enable our next generation to become more innovative. To become a startup hub, we need not only innovative founders but also innovative clients and employees. Hong Kong will become a true startup hub if a 10-year old can tell the difference between a startup and a small business. The child will know that opening a small coffee shop is not a startup!</span></span></div>
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</span>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-23041228892706446572013-04-03T06:04:00.000-07:002013-04-08T08:05:07.230-07:00Making Impact Investing More Impactful<!--StartFragment-->
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiS3SLMw00vIRRBEfrxglI5751xgNTuY6LUyMtJOVqPkUWLxA3sreBqCNEKbAE_NiABVQfZWYRLH4RGv579VJNazi4-gTCbClxOuS75m1kvbHpFQZN6Cybvk2l1n3I4Km13yjtfXQF2EVuQ/s1600/Slide1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiS3SLMw00vIRRBEfrxglI5751xgNTuY6LUyMtJOVqPkUWLxA3sreBqCNEKbAE_NiABVQfZWYRLH4RGv579VJNazi4-gTCbClxOuS75m1kvbHpFQZN6Cybvk2l1n3I4Km13yjtfXQF2EVuQ/s320/Slide1.jpg" width="320" /></a></div>
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<span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">There
has been a lot of hype about impact investing since the term was coined 5 years
ago</span><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";">. </span><span lang="EN-US" style="mso-bidi-font-family: Verdana;">It is often described</span><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";"> as an emerging asset
class with an estimated market opportunity up to USD 1 trillion.</span><span lang="EN-US" style="mso-bidi-font-family: Verdana;"><span style="mso-spacerun: yes;"> </span></span><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";">A lot of the ‘enthusiasm’ focuses on how impact should be
measured, but advocates of impact investing reckon that<span style="color: #262626;">
the actual volume of transactions remains minimal at best.<o:p></o:p></span></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Verdana;">The Global Impact Investing
Network (GIIN) defines impact investing as investments made with the intention
to generate measurable social and environmental impact alongside a financial
return. This I believe is a broad enough definition that</span><span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";"> can encompass a
wide spectrum of investment approaches, from creating social value as the key
driver on one end to generating financial value on the other. <o:p></o:p></span></div>
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<i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Impact First<o:p></o:p></span></i></div>
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<span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Most of
the discussions on impact investing centre around the notion of channeling private
capital to improve the life of the Bottom of the Pyramid (BoP) and the
disadvantaged, especially those in emerging economies. These impact driven<i style="mso-bidi-font-style: normal;"> </i>investments can have different rates of
return, from below market to above market. Investors may take the profits or
reinvest them back into the business, in parts or in their entirety. In
developed economies, this type of impact investing is often associated with
community investing.<span style="mso-spacerun: yes;"> </span></span></div>
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<i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Finance First<o:p></o:p></span></i></div>
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<span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Impact
investing could also be a concept applicable to investments made with <i style="mso-bidi-font-style: normal;">financial returns</i> as the key driver, though this is less talked about. Investors will look at the investment returns but they will also base their investment decisions on sustainability considerations.<span style="mso-spacerun: yes;"> T</span>his is where impact investing and socially
responsible investing (SRI)<a href="http://www.blogger.com/blogger.g?blogID=7084157362950601247#_ftn1" name="_ftnref1" style="mso-footnote-id: ftn1;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="EN-US" style="color: #262626; font-family: Cambria; font-size: 12.0pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Helvetica Neue"; mso-bidi-language: AR-SA; mso-fareast-font-family: "MS 明朝"; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">[1]</span></span></span></span></a>
overlap. The recent global financial crisis has led to a critical rethink of some
of the foundational beliefs that underpin the financial markets and investment
models. Jack Welch’s about-face remark that ‘shareholder value is the dumbest
idea in the world’ epitomized the market sentiment for a more responsible
capitalism. More mainstream investors have begun to see the case to integrate Environmental,
Social and Governance (ESG) factors into their investment decisions, as a means
to mitigate risks and identify companies with long term financial performance
advantages. Some finance first investors also see their investment as an opportunity to help change the world for the better, in addition to the monetary returns. This is what Victor Hwang in his book "The Rainforest: the Secret to Building the Next Silicon Valley" referred to as "extra rational motivations". <o:p></o:p></span></div>
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<span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Whist
impact investments with ESG considerations are largely applicable to companies
with large market capitalisation, the concept of impact investing is also highly relevant to innovative, small to mid cap ventures that seek to improve the well being
of mankind. </span><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";">The Investors’ Circle, for
example, was founded in the US over 20 years ago t</span><span lang="EN-US" style="mso-bidi-font-family: Arial;">o catalyze the flow of capital to high
impact entrepreneurs. It has so far </span><span lang="EN-US" style="mso-bidi-font-family: Times;">propelled US$168 million plus US$4 billion
follow on investments into 269 enterprises dedicated to improving the
environment, education, health and community. So impact investing is by no means 'new'. Depending on how one defines impact investing, it may not be entirely correct to say that the volume of transactions is small.<o:p></o:p></span></div>
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<i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="mso-bidi-font-family: Times;">Impact Investing Goes Mainstream<o:p></o:p></span></i></div>
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<span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">Hitherto
the impact investing agenda has largely been shaped by foundations and
non-profit organisations with philanthropic objectives. This is good, but not
good enough. Impact investing should by no means be restricted as a humanitarian
or community development tool. If impact investing is to achieve world-changing
impact, we need more mainstream investors to join the discussion and more
importantly<i style="mso-bidi-font-style: normal;"> </i>the action. </span><span lang="EN-US" style="mso-bidi-font-family: Arial;">Traditional impact investments
are private equity securities with very limited liquidity. S</span><span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">ome
analysts believe that </span><span lang="EN-US" style="mso-bidi-font-family: Arial;">publicly
traded companies with ESG portfolios will unleash a new market for mainstream investors
and bring in the largest dollar amounts of assets. We also need more angels, venture
capitalists, and family offices to invest in entrepreneurs who seek to change the
world for common good with innovative, sustainable and scalable solutions. And
beware that these entrepreneurs come in different forms and shapes – they do
not necessarily label themselves as social entrepreneurs. <span style="mso-spacerun: yes;"> </span>Not only do we need thought leaders like Jed
Emerson, we also need more visionary investors like Timothy Drapers
and Peter Thiel who back entrepreneurs who seek to change the world through disruptive innovations.<span style="mso-spacerun: yes;"> </span>This is particularly
the case for Asia, as angel and venture capital investing are still at a
nascent stage of development.<span style="mso-spacerun: yes;"> </span></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Times;">Impact investing is far from
being a single and discrete investment category. </span><span lang="EN-US" style="color: #262626; mso-bidi-font-family: "Helvetica Neue";">We should refrain
from applying value judgment on whether a particular class of impact investing
is more impactful than the others. Take job creation as an example. One may argue that all things
being equal, there is no reason why creating job opportunities in developed
economies should have less impact than in developing economies. Some businesses
can also benefit both the BoP/disadvantaged segment and mankind in general.
Clean technology is one obvious example. So are medical and health breakthroughs, which are not very often discussed in impact investing fora. Essentially, impact investors can have a portfolio
of investment spanning across the whole spectrum, from finance first to impact
first investment. One can also begin with finance first investment and then
gradually migrate towards impact first investment over time. </span><span lang="EN-US" style="mso-bidi-font-family: Times;"><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Times;">Indeed if impact investing is to
gain market traction, a lot more work needs to be done with mainstream investors
who are driven by financial returns. There is probably no need to position
impact investing as a new asset class as such. From the asset allocation perspective,
impact investment is no different from venture capital or private equity investment
in terms of the structure and tools of investment<a href="http://www.blogger.com/blogger.g?blogID=7084157362950601247#_ftn2" name="_ftnref2" style="mso-footnote-id: ftn2;" title=""><span class="MsoFootnoteReference"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria; font-size: 12.0pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: Times; mso-bidi-language: AR-SA; mso-fareast-font-family: "MS 明朝"; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">[2]</span></span></span></span></a>.<span style="mso-spacerun: yes;"> </span>From the risk and return perspective, impact
investing is also similar to socially responsible and sustainable investing.
After all, impact investing will only be able to achieve its <i style="mso-bidi-font-style: normal;">impact</i> if one day the majority of
investors realise that doing good also means doing well in the long term. <o:p></o:p></span><br />
<span lang="EN-US" style="mso-bidi-font-family: Times;"><br /></span>
<span lang="EN-US" style="mso-bidi-font-family: Times;"><br /></span>
<span lang="EN-US" style="mso-bidi-font-family: Times;"><br /></span>
<span lang="EN-US" style="mso-bidi-font-family: Times;"><i><span class="Apple-style-span" style="font-size: x-small;">References</span></i><span class="Apple-style-span" style="font-size: x-small;">:</span></span><br />
<span class="Apple-style-span" style="font-size: x-small;"><br /></span>
<span lang="EN-US" style="mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: x-small;">Spectrum of Impact Investing, AVPN (www.avpn.asia/about-us/avpn-background/)</span></span><br />
<span lang="EN-US" style="mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: x-small;">Values Based Investing, UBS (www.ubs.com/globsl/en/wealth_management)</span></span><br />
<span lang="EN-US" style="mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: x-small;">World Economic Forum (http://www.weforum.org/content/impact-investing-how-do-we-harness-hype)</span></span></div>
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<a href="http://www.blogger.com/blogger.g?blogID=7084157362950601247#_ftnref1" name="_ftn1" style="mso-footnote-id: ftn1;" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-size: 10.0pt;"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria; font-size: 10.0pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "MS 明朝"; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">[1]</span></span></span></span></span></a><span lang="EN-US" style="font-size: 10.0pt;"> SRI also includes negative screening of
companies that do harm to the society and/or the environment.<o:p></o:p></span></div>
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<div class="MsoFootnoteText">
<a href="http://www.blogger.com/blogger.g?blogID=7084157362950601247#_ftnref2" name="_ftn2" style="mso-footnote-id: ftn2;" title=""><span class="MsoFootnoteReference"><span lang="EN-US"><span style="mso-special-character: footnote;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria; font-size: 12.0pt; mso-ansi-language: EN-US; mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "MS 明朝"; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-fareast; mso-hansi-theme-font: minor-latin;">[2]</span></span></span></span></span></a><span lang="EN-US"> </span><span lang="EN-US" style="font-size: 10.0pt;">Dr Christine Chow,
Founder, Homage Consulting</span><span lang="EN-US"><o:p></o:p></span></div>
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Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com12tag:blogger.com,1999:blog-7084157362950601247.post-59519143594082530942013-02-23T17:29:00.000-08:002013-02-23T17:29:57.187-08:00Is Social Enterprise a Passing Fad?<!--StartFragment-->
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">The backlash against the deficiencies of capitalism has led
people to rethink the purpose of businesses. Governments are advocating the
development of social enterprises as a viable alternative to public service delivery.
Impact investing has emerged as a new asset class. There are stock exchanges
established specifically for social enterprises. Business schools are setting
up social entrepreneurship programmes one after another. <o:p></o:p></span></div>
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">Amidst all the interest and enthusiasm, there is still no shared
consensus on the essential nature of a social enterprise. Many people think
that social enterprises exist to help the underprivileged by building up their
capacities and creating opportunities for them. Some believe that social
enterprises must be non-profits.<o:p></o:p></span></div>
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">Wikipedia</span><span style="font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;"> defines a social enterprise, based on the book
“Understanding Social Enterprise: Theory and Practice” (Ridley-Duff and Bull,
2011), as "an organisation that applies commercial strategies to maximize
improvements in human and environmental well-being, rather than maximising
profits for external shareholders." A social enterprise can be structured
a for-profit <span style="mso-spacerun: yes;"> </span>or a non-profit. This is a
very broad definition, and certainly encompasses more than just organisations
with a charitable purpose. <o:p></o:p></span></div>
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<span style="font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">If we
take a look back at history, the function of business was to provide the goods
and services that a society needed. It is largely in the last 100 years that
the meaning of "business" has been distorted. Instead of satisfying
needs, companies now “thrive on” creating wants and desires and value creation
has become synonymous with returns on shareholder value on a quarterly basis.<o:p></o:p></span></div>
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<span style="font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">The
relentless pursuit of profit has wreaked havoc on our economy, society and
environment. It is also unsustainable for businesses themselves. <span style="color: #262626;">The average life expectancy of a Fortune 500 company is
between 40 and 50 years. </span>The pace of corporate funerals is set to
accelerate, according to a Yale study. <o:p></o:p></span></div>
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<span style="font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">Studies
have shown that the companies that perform best over time are purpose-driven organisations.
These companies make money but profit is not their r<i>aison d'être</i>. They
improve the lives of people, address environmental issues, provide meaning for their
employees and build sustainable businesses in the interests of all
stakeholders. <o:p></o:p></span></div>
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">My favourite example of such a purpose-</span><span style="font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">driven
<span style="color: #262626;">organisation is Zappos. Tony Hsieh, CEO of the
online retailer, says Zappos is all about “making customers and employees
happy.” By demonstrating the crucial link between the purpose of an
organization and sustainable growth, the Zappos culture is influencing
companies around the world in a big way. Nonetheless, most people would not
equate Zappos with a social enterprise.<o:p></o:p></span></span></div>
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">Instead of singling out <i>social enterprises</i> as a desirable
category of business, there is a strong case to be made that every business
should integrate a social purpose into its core. Instead of teaching social
enterprises as an elective, business schools should inculcate in every student
the imperative of building <i>for-purpose</i> organisations. We need to
encourage all aspiring entrepreneurs to think about in what ways they can make
a difference to society. It is with this objective in mind that we launched the
Make a Difference (MaD) Venture Fellows Programme in Hong Kong last year. <span style="mso-spacerun: yes;"> </span>The Programme celebrates and supports young,
innovative, doing-good and doing-well entrepreneurs. 16 MaD Venture Fellows
from Hong Kong and 9 countries participated in an intensive 4-day programme,
meeting with mentors, potential investors and business partners, as well as inspiring
other entrepreneurs. <o:p></o:p></span></div>
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<span style="color: #262626; font-family: Verdana; font-size: 11.0pt; mso-bidi-font-family: Verdana;">The three 2013 MaD Venture Stars, selected through an expert
judging and crowd-voting process, demonstrate the myriad possibilities for a
business to create a better world through innovation:<o:p></o:p></span></div>
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<span style="font-family: Symbol; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;">Insight Robotics, Hong Kong (www.insightrobotics.com)</span></b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;"> applies robotics technology to protecting critical infrastructures
and key resources around the world. It detects and visualises remote incidents
such as forest fires, oil leaks, water pollution, floods, droughts and security
breaches for management authorities and assists them in devising the most
efficient disaster recovery and contingency plans. <o:p></o:p></span></div>
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<span style="font-family: Symbol; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;">Wibbitz ,Israel (www.wibbitz.com)</span></b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;"> has <span style="color: #323233;">created text-to-video technology that automatically turns
any text-based article, post or feed on the Web into a video</span> within 20
seconds. It helps reduce costs and production time for SME publishers and
content providers, breaks down language barriers and has tremendous application
potential in education.<o:p></o:p></span></div>
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<span style="font-family: Symbol; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";"> </span></span></span><b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;">Wifinity Tech, India (www.wifinitytech.com)</span></b><span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;"> applies simple and cost-effective wireless technology and artificial
intelligence to help enterprises and buildings monitor, manage and economise on
energy and water consumption. <span style="color: #323233;">Enterprises and
public institutions can reduce energy bills by 20% and water wastage by 15%,
with ROI in less than 12 months.</span><o:p></o:p></span></div>
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<span style="font-family: Verdana; font-size: 11.0pt; line-height: 150%; mso-bidi-font-family: Verdana;">None of these MaD ventures identify themselves as social enterprises,
but their founders definitely have the vision to change the world for the
better. <span style="color: #262626;">It is cool to talk about social enterprises
these days. We hope that this will just be a passing fad, as one day all
businesses should have a social purpose. It is time to get back to the basics.<o:p></o:p></span></span></div>
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Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com7tag:blogger.com,1999:blog-7084157362950601247.post-50956966774518237162012-09-15T21:08:00.001-07:002012-09-15T21:08:33.395-07:00The Myths of Social Enterprises<!--StartFragment-->
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">The concept of </span><span lang="EN-US"><b>social
enterprises</b></span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;"> has a long history, albeit manifested under different names and
orientations. The backlash against the deficiencies of capitalism in recent
years has accentuated the development of social enterprises around the world.
However, there is still not a shared consensus of what essentially a social
enterprise is.<o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">Social enterprise has
philanthropic roots in the US and cooperative origins in the UK. <span style="mso-spacerun: yes;"> </span>More recently, some governments are also
trying to encourage the third sector to take a more market-driven approach in
providing social goods.<span style="mso-spacerun: yes;"> </span>Social
enterprises are therefore often</span><span lang="EN-US"> narrowly seen</span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;"> as organisations seeking to
solve the problems of the bottom of the pyramid or challenges in developing
economies. <o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">According to the wiki
definition, a <span style="mso-bidi-font-weight: bold;">social enterprise</span>
is “</span><span lang="EN-US"><i>an organisation</i></span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;"> </span><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black; mso-bidi-font-family: Helvetica; mso-themecolor: text1;">that applies commercial strategies
to maximise improvements in</span></i><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="mso-bidi-font-family: Helvetica;"> human and environmental well
being, rather than maximising profits for external shareholders</span></i><span lang="EN-US" style="mso-bidi-font-family: Helvetica;">”. Social and environmental
challenges are obviously not confined to the have-nots. Developed economies
also have their challenges. Pollution, wastes, obesity, stress-related
diseases, aging population, education, housing, workplace relations and
work-life balance are but a few examples. Therefore it is conceptually
inappropriate to limit the scope of social enterprises.<o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">The second fallacy is that social
enterprises must be non-profit organisations. To repute this argument, it is
essential to understand what non-profit and for-profit mean. </span><span lang="EN-US" style="color: #1a1a1a; mso-bidi-font-family: Arial;">A non-profit
organization is an organization that does not distribute its surplus funds to its
owners or shareholders; whereas a for-profit organization can do so. It is also
important to differentiate between the concepts of for-profit and profit maximization.
Whilst the latter should be condemned, there is nothing wrong for an
organization to provide incentives to its investors </span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;">through the distribution of dividends. The
distribution of profits should not compromise the enterprises' social benefits.
Indeed if we want more private investors to be involved in the delivery of
social goods, instead of just relying on government funds and subsidies, there
is every justification that a social enterprise can be for-profit.<o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">The social and environmental
challenges that we are facing today are enormous, and in order to solve these
problems, a social enterprise also has to be an innovative enterprise as
well.<span style="mso-spacerun: yes;"> </span>The innovation can be in the
technology, product, service, delivery process, customer experience or in how
the enterprise is managed.<span style="mso-spacerun: yes;"> </span>Scalability
is another issue, in order that the enterprise can attain maximum impact on the
society. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">All in all, social
enterprises should be a lot more than non-profit organisations serving the
needs of or creating employment opportunities for the disadvantaged segments of
the society.<span style="mso-spacerun: yes;"> </span>And social enterprises
should definitely not be a euphemism for non-profit organisations struggling to
develop a viable business model with no or limited innovation.<o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">Many of the enterprises that
do not name themselves as social enterprises are also creating enormous
benefits to our society. Many technology ventures are cases in point.<span style="mso-spacerun: yes;"> </span>My favorite example is LinkedIn.<span style="mso-spacerun: yes;"> </span>Most people will not associate LinkedIn as a
social enterprise. But it is certainly doing a lot of good in connecting
professionals around the world. Another example is Zappos. The happiness
culture advocated by Tony Hsieh is creating a lot of good to its employees and
customers. By demonstrating the crucial link between the purpose of an
organization and sustainable growth, the Zappos culture is also influencing
companies around the world in a big way. But I do not think Tony will ever call
himself a social entrepreneur. <o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">Because of the confusion and
sometimes the unfortunately negative associations of a social enterprise, some
organisations and advocates in social innovation have stopped using the term. We
are seeing more and more people making references to “impact ventures” or “for
purpose” organisations instead.<o:p></o:p></span></div>
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<span lang="EN-US" style="mso-bidi-font-family: Helvetica;">As Juliet says, </span><span lang="EN-US" style="font-family: "Helvetica Neue"; font-size: 14.0pt; mso-bidi-font-family: "Helvetica Neue";">"</span><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";">What's in a name? That
which we call a rose by any other name would smell as sweet</span></i><span lang="EN-US" style="mso-bidi-font-family: "Helvetica Neue";">." </span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;">So long as the enterprise is
making a difference and creating positive value to the society, there is
actually no point in debating whether it is a social enterprise. This is the
approach we take in the Make a Difference (MaD) Venture Fellows Programme. We
are inviting young, innovative, do good and do well entrepreneurs to join the
Programme in Hong Kong on 24-27 Jan 2013. They can work in diverse sectors from
environment, energy, education, medical and health care to technology that
enhances productivity and connectivity and management practices that build
happy teams and customers. This Programme aims to celebrate and support entrepreneurs
who are making a difference to scale new heights by connecting them with
capital, networks and market knowledge in Asia. If you are MaD enough, please
apply via </span><span lang="EN-US"><a href="http://www.MaD.asia/"><span style="mso-bidi-font-family: Helvetica;">www.MaD.asia</span></a></span><span lang="EN-US" style="mso-bidi-font-family: Helvetica;"> by 28 Oct 2012. <o:p></o:p></span></div>
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Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-11936619791724251522012-04-07T19:24:00.000-07:002012-04-07T19:24:27.260-07:00From Corporate Social Responsibility to Corporate Sustainability<div class="MsoNormal"><i style="mso-bidi-font-style: normal;"><span lang="EN-US"><br />
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<i style="mso-bidi-font-style: normal;"><span lang="EN-US">CSR as Philanthropy<o:p></o:p></span></i></div><div class="MsoNormal"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Corporate Social Responsibility (CSR), like many business jargons, means different things to different organisations. For some companies, CSR is almost synonymous with philanthropy. From charity donations, planting trees to corporate volunteering, these companies pursue CSR activities as a means to build a good brand image. With rising public rampage against the evils of capitalism, the ‘need’ to adopt CSR as a reputation (or risk) management tool has become more real than ever. <span style="color: black;">Other companies take a more integrated approach. They will </span></span><span lang="EN-US" style="color: black;">consider the social and environmental consequences of their business activities. </span><span lang="EN-US" style="color: black;">CSR is not an after thought but aligned with their operation and stakeholder management processes to minimize the negative impact on the society. </span><span lang="EN-US" style="color: black;"> </span><span lang="EN-US">Yet </span><span lang="EN-US">a 2001 Harvard Study by Mohr, Webb, and Harris showed that although these CSR activities inspire a positive image of a company, it is far from certain that customers will change their purchase behavior as a result.</span><span lang="EN-US"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">CSR as a Value Creation Tool<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">Truly successful companies integrate CSR as part of the overall corporate strategy to enhance their competitive advantage. CSR becomes a proactive value creation tool to innovate the business, develop human capital, enhance energy efficiency and develop shared values with customers and the society at large. Below are three examples:<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"></div><ul><li><span lang="EN-US" style="color: black;">P&G and </span><span lang="EN-US">Unilever deliver micro versions of their products to the bottom of the pyramid in developing countries.</span></li>
<li><span lang="EN-US"></span>Patagonia has launched an advertising campaign with the headline of "Reduce What You Buy”, appealing to the green conscious customers who are at the same time prepared to pay more for quality products.</li>
<li>Standard Chartered ’s partnerships with local blindness charities around the world has led the bank to introduce “speaking” ATMs with Braille keys and recruit the blind from the school for its call-centres. </li>
</ul><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US">Proactive Corporate Sustainability<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">Some people consider the above as examples of Strategic CSR but I believe <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Corporate Sustainability </i></b>is a more appropriate description. Corporate Social Responsibility, as suggested in its name, implies a reactive approach i.e. the company is obliged to giving back to the society (to ease its conscience) for all the money it makes. Corporate Sustainability in contrast is a proactive strategy to ensure an organisation’s long-term growth, taking a balanced development approach to profit, people and planet. </span><span lang="EN-US" style="color: #202020;">It is a business approach that creates long-term shareholder value by embracing sustainability opportunities while at the same time successfully reducing and avoiding sustainability costs and risks.</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black;">Purpose-Driven Business<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">Central to the sustainability policy is the definition of the ‘core purpose’ of an organization. Like a compass, the purpose governs the vision, the values, the brand promise, the strategic and operational priorities and the behavior of senior management. </span><span lang="EN-US">Organizations that put purpose at the heart of what they do give meaning to and establish strong emotional connections with their employees and customers alike. It is a potent source of employee engagement and brand building, differentiating the winners from the losers in a commoditized and crowded marketplace. A 2010 IMD/Burson Marsteller Corporate Purpose Impact Study showed that a strong, strategically coherent and well-communicated corporate purpose is associated with up to 17% better financial performance. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black;">Developing Corporate Sustainability in Asia<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="margin-bottom: 12.0pt; mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">Asia, probably with the exception of Japan, has traditionally been lagging behind Western Europe and North America in CSR practices. In recent years, we have witnessed more and more companies adopting CSR practices albeit a majority is still at the image building or reputation management level. Of the 2012 Global 100 Most Sustainable Corporations, 16 are from Asia - 11 from Japan, 2 each from Singapore and South Korea and 1 from India. A recent study by EIRIS, a responsible investment research specialist, shows that only 1 percent of Asian companies made to the top grade based on environmental, social and governance (ESG) issues, compared to 20% in the UK. </span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">What are the key drivers for driving sustainable businesses in Asia? </span><span lang="EN-US" style="color: black;">Companies in Asia obviously have to realise the case for sustainable business, that “doing good” is not just philanthropy but strategically linked to “doing well”. They have to take a long term and holistic approach to business growth and be prepared to sacrifice short-term gains. It requires considerable mindset changes as well as capacity building work.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black;">Role of Stock Exchanges<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">According to Richard Welford, Chairman of CSR Asia, governments and quasi-public bodies—particularly stock exchanges – are some of the most important drivers. In Hong Kong, Malaysia, the Chinese Mainland, and more recently Singapore and Thailand, stock exchanges are playing an increasing role in encouraging reporting on sustainability. </span><span lang="EN-US" style="color: black;">Quality and transparent ESG disclosure is crucial for investors to start demanding sustainable business practices in lieu of short-term financial gains. The growing sustainable investment market also presents new opportunities for stock exchanges in the form of new products and services for responsible investors. These include specialized indices such as the Johannesburg Stock Exchange Socially Responsible Investment Index. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black;">Consumer Education<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">Consumers and the civil society also play a vital role in demanding more sustainable businesses. Unlike those in North America and Western Europe, consumers in Asia fall largely in the price sensitive or brand conscious groups. What a brand stands for, in terms of its core purpose and values, is relatively unimportant for most Asian consumers. However, this is changing as more and more Asian societies become more affluent – especially amongst the young generations. As more Asian consumers start to move up the Maslow’s <i style="mso-bidi-font-style: normal;">Hierarchy of Needs</i> in search for meaning and self-actualisation, companies will be obliged to change their brand strategy.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><i style="mso-bidi-font-style: normal;"><span lang="EN-US" style="color: black;">Role of the Civil Society<o:p></o:p></span></i></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">The civil society can be a catalyst in consumer education, as well as in delivering sustainable solutions together with corporations. </span><span lang="EN-US" style="color: black;">NIKE, for example, has transformed its corporate responsibility function into Sustainable Business and Innovation to integrate sustainability into its business model. One of the key pillars of its sustainability strategy is to mobilize the civil society in scaling solutions. It has been working with Creative Commons and other brands to build a digital platform (the GreenXchange) to enable the sharing of sustainability innovations on a global scale. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="color: black;">In Hong Kong, we have recently launched <i>Let’s Make a Difference</i> – a network of like-minded philanthropists and corporations - to promote the development of innovative and sustainable businesses. It grows out from the Make a Difference initiative that was introduced in 2012 to inspire and empower young people to create positive economic, social and environmental changes for Asia. We are recruiting members to <i>Let’s Make a Difference</i> and look forward to partnering with organisations that want to leverage the creativity, knowhow and network of young people in making a difference.</span><span lang="EN-US" style="color: black;"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com9tag:blogger.com,1999:blog-7084157362950601247.post-68055368610010020432012-04-05T00:43:00.002-07:002012-04-05T00:43:42.575-07:00Innovating Capitalism: Making Money with a Difference<span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Does capitalism in its current form still serve the common good of society? The global financial crisis has triggered intense debate, most recently in the Financial Times, about the future of capitalism, and whether capitalism -the driver of innovation - is overdue for innovation itself.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">The answer to the call for “better capitalism” lies, in part, in a critical rethink of the role of business in society. Maximizing shareholder value is no longer the Holy Grail. Companies that perform best over time are purpose-led organisations that seek to build sustainable businesses in the interests of all stakeholders. </span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">These companies make money but purpose, not profit, is their raison d'être. They advance productivity, improve the lives of people, address environmental issues, boost job satisfaction, manage a socially-responsible supply chain and so on.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Such companies do not necessarily have to be big. We see that at the Make a Difference forum held each January in Hong Kong. MaD runs an award scheme to identify and champion young change-makers who can bring about economic, social and environmental benefits to Asia an innovative and sustainable manner. Winners of the 2012 MaD Award amply demonstrate how small enterprises can change the world in a big way.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Take Marina Gana Vida (MGV), a company which runs a fish farming business in Mindanao, an area of the Philippines that has been plagued by widespread poverty and civil unrest caused by religious differences. By introducing an eco-friendly supply chain, from fish breeding, to making nets, storage, processing to distribution and marketing, MGV contributes to conserving marine resources and improving the livelihood of 2,500 Muslim households.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Founder Jonah Nobleza established MGV as a social enterprise unit of Strategic Development Corporation Asia in 2007 at the age of 30. "MGV is governed by three maxims," he said. "We believe in healthy food for consumers, vibrant and resilient coastal households as well as a happy earth." Armed with compassion, courage and business acumen, Jonah and his team aspire to develop MGV as the leading supplier of all natural marine products in the Philippines in the next ten years. As the Grand Award Winner of the 2012 Make a Difference Award, MGV will use its US$20,000 cash prize to set up a community feed mill to facilitate its shift to full organic fish farming.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Doing good and doing well is not confined to social enterprises. Arthur Huang, a university professor, engineer and architect, founded MINIWIZ S.E.D., LTD in 2006 at the age of 28.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">“Producing less and buying less are the only solutions to sustainability. But how can we achieve this when business demands growth and consumers desire more?” Arthur saw this as the challenge and opportunity for Miniwiz. Synergizing expertise in design, engineering and manufacturing, his company delivers innovative, cost competitive and attractive solutions and products under its 3Rs mantra – Reduce, Reuse and Recycle.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Miniwiz’s most prominent project “EcoARK” was built for the 2010 Taipei International Expo using 1.5 million PET (plastic) bottles that were 100 per cent upcycled. It has also developed ground-breaking waste composites called POLLI-BER, made with recycled thermoplastics and agricultural waste. Miniwiz is now working with the Harvard Graduate School of Design to research into sustainable construction and materials with a specific focus on Asia.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Small organisations can also make a big impact by influencing large companies and leveraging their resources. Beijing-based Horizon Corporate Volunteer Consultancy, founded by Wang Zhong Ping in 2005, has assisted over 100 enterprises in China – including Fortune 500 companies - to run corporate volunteerism programmes by pairing charity organisations with corporate resources. The consultancy has worked with over 100,000 volunteers and 600 charitable organisations, benefiting more than 100,000 children, the elderly and the disabled.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">Productivity growth backed by decades of conventional capitalism has resulted in cheaper consumer goods becoming more available while basic needs such as food, housing, healthcare, energy and education are becoming less affordable. Governments all over the world are facing the dual challenges of meeting these needs without landing themselves deeper in debt.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
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</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;">I believe today’s opportunities lie not so much in producing more, better and cheaper consumer goods, on the old capitalist model, but in businesses providing innovative and profitable solutions to meet the social and environmental needs in both developed and developing economies. As each year’s crop of MaD Award winners demonstrate, such businesses can succeed on their own or in partnership with governments and NGOs.</span><span class="Apple-style-span" style="color: #1e1e1e; font-family: arial, Helvetica, sans-serif; font-size: 12px; line-height: 14px;"><br />
</span>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com1tag:blogger.com,1999:blog-7084157362950601247.post-18976065248937353372011-12-13T05:42:00.000-08:002011-12-13T05:44:44.519-08:00Myth about 'social enterprises'<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The controversies surrounding social enterprises in Hong Kong stem from three fundamental reasons. First, the definition of a social enterprise is contextual. It is difficult to come to a universal consensus on what a social enterprise is. Creating job opportunities in rural India is certainly a social enterprise, but it may not be the case in Hong Kong. The government advisory committee for social enterprise funding discussed a definition for months, but unable to reach a consensus, decided to put it aside. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Second, the Government puts policy responsibility for social enterprises under the Home Affairs Bureau. But as rightly pointed out by Raymond Yim of the Social Enterprise Incubation Centre, social enterprises should not be the monopoly of NGOs and should definitely not be run as charities. Making profit should not be perceived as something evil. Indeed I would argue that we should encourage more for-profit companies to run social businesses. This is the only way to ensure that people with business skills can build and grow the enterprises on a sustainable basis.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Third, most people assume that enterprises can only do good by benefiting the ‘bottom of the pyramid’ - the disadvantaged, the disenfranchised and the disabled. But the reality is that challenges in health care, environment, education and many other social issues are as relevant to other segments of the society as to the underprivileged. An enterprise can still be ‘social’ if it is addressing the obesity issue of middle class kids.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The November issue of the Harvard Business Review carried a special feature on </span>good companies that ‘create value for society, solve the world’s problems, and still make money’. This is a new generation of companies that are doing good and doing well in a variety of ways. They improve the lives of people, provide jobs, address environmental issues, enhance employees’ <span lang="EN-US">job satisfaction and </span>quality of life, develop a responsible network of suppliers and partners, and last but not the least operate on a financially viable basis to provide resources for the attraction/ retentions of talent and continuous innovation. They can be big multinational companies as well as small and medium sized enterprises. Whether they are social enterprises or not are irrelevant. My favourite example is Google. Is Google a social enterprise? Probably not. But has it created enormous value for the world? A resounding yes.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;">Policy priority (and resources) should therefore be directed at encouraging and supporting the development of ‘good companies’ that can create economic, social and/or environmental value in a profitable (and thus sustainable) manner. Government policies and regulations should encourage responsible investment taking into account Environment, Social and Corporate Governance (ESG) issues. Government funding support should favour entrepreneurs who aspire to do good and do well. The annual Make a Difference Award, which champions young and innovative change makers, is a case in point. We have selected 3 finalists for the 2012 Make a Difference Award, and not all of them are the classic ‘social enterprises’. But they are definitely doing good and doing well. You can check them out from <span lang="EN-US"><a href="http://www.MaD.asia/"><span lang="EN-US"><span lang="EN-US">www.MaD.asia</span></span></a></span> and cast your vote on the Grand Award winner.<o:p></o:p></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
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</div>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-49088927996603177622011-05-28T20:57:00.000-07:002011-05-28T20:57:31.959-07:00Why Cubans are happy?I was in Havana last week. With the mix of European and African culture, it is a very interesting and 'colorful' city with so much to do. In fact, it doesn't feel like a 'socialist' country. Yes, most of the buildings are old and run-down. People are poor, earning from around 300 Euros (most workers) to 1000 Euros (those higher up in the Police/Military). You see entrepreneurial activities everywhere to supplement the family income, from the elderly women selling peanuts to the security guards charging an 'admission fee' for entry to museums beyond the official opening hours. But there is a lively rhythm in the air everywhere. Cubans have music and dance in their blood. They feel happy and content. Why?<br />
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First of all, very simple, I think it is the weather. It is rather difficult to be melancholic if you have the sun shining on you. I bet there are more happy people in Cuba than in Finland for this simple reason. Second, Cubans and music (and together with it Salsa) are inseparable, and they take great pride in their cultural traditions and influence in the world. We enjoyed so much the cabaret show (the least you will expect from a 'socialist' country) and the Buena Vista Social Club. I even stumbled on the grave of the iconic Ibrahim Ferrer who died in 2005. Havana is a perfect example of how art improves the quality of life and make people truly happy. (And the cigars may also help!) The Cubans also have a good aesthetic sense. Contrary to my perceptions, there are not too many political slogans in the street. Fidel's photo is almost absent. Even if there is political propaganda, it is done in a very artistic way. The Communist Chinese certainly have a lot to learn from the Cubans. Hamel is a must go, with its street art, sculptures, murals and graffiti. The UNESCO preserved old town along the Calle Obispo is an architecture gem. We went to an arts and craft market and happily found some nice paintings.<br />
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Third, it is the Government. Yes - I am not kidding. Most Cubans have high respect for Fidel Castro, as he has ended the inequality and corruption of the Batista regime. The Cuban government provides free and good standard education and health care to its citizens. Many university students study science and medicine. One of its major exports is medical doctors to Venezuela - in exchange for oil. Housing is on a 'communal' basis, as people live together in big families across generations. Although Cuba is very poor by Western standard, compared to most Latin American countries, Cubans think they lead a much better life. It is certainly a very different story to the one portrayed by the Americans.<br />
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Apart from Fidel, Jose Marti (like Sun Yet Sen of Republic China), Che Guevara and Camilo Cienfuegos are greatly admired. To some people, they are terrorists but to most Cubans, they are like saints. Indeed there is no absolute truth in history. And Fidel is a great orator. He is known for his long speeches but they are so emotionally uplifting for the Cubans. For example, when the Batista Government was overthrown, he said 'for the first time in history, the government will side not with the rich but the very poor.' I still don't have the answer whether bloodshed is essential in a revolution. Similarly when one introduce change in a corporate setting, sacrifice for the greater good is probably inevitable. (To share with you a little secret, the name InnoFoco is inspired by Che's foco theory - fast moving guerillas attacking the establishment from the fringes.)<br />
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I love Havana and would like to go back again.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-67944139903633850292011-05-09T20:17:00.000-07:002011-05-09T20:17:17.172-07:00Let us give innovation a new meaning<!--StartFragment--> <br />
<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The recent report by the Chinese Academy of Social Sciences has raised an alarm bell on Hong Kong’s losing competitiveness and its sliding ‘happiness’ index. There was a timely article in the Financial Times last week written by Richard Florida (an expert in the creative economy) on how America can fix its broken jobs machine. Florida’s piece may be able to shed some light on Hong Kong’s current predicament.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Florida posited that neither job creation, nor educating more people for higher paying jobs will solve the problem of “the bifurcation of the job market and an increasingly unequal and polarized society,” an unsettling phenomenon that we are all very familiar with in Hong Kong. A successful job strategy must focus on upgrading the entire low wage service job category through service innovation.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Using the example of Zappos (a successful online retailer), Florida showed how companies should value their employees, view them as a source of innovation, help them move through an internal career ladder and most importantly, build a culture and community that delivers better services (aka happiness) to customers. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Florida’s piece is a potent reminder that innovation is not just about product and technology. <span style="mso-spacerun: yes;"> </span>It is equally, if not more important, to create value through <b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">service innovation</i></b><i style="mso-bidi-font-style: normal;">.<b style="mso-bidi-font-weight: normal;"> </b></i>Companies and organisations need a more creative and holistic approach to differentiate themselves and enhance productivity. Service innovation entails customer experience innovation (e.g. Starbucks), business model innovation (e.g. IKEA), process innovation (e.g. Li & Fung’s supply chain management) and/or management innovation as in the case of Zappos.<span style="mso-spacerun: yes;"> </span>It also includes social service innovation as the public /NGO sector is arguably the largest employer. The ‘application’ of technology is crucial in service innovation, but not necessarily the need for technological ‘innovation’ as such. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Florida pointed out the need for a national initiative to promote and nurture ‘service innovators’. And because many service companies are ‘small’, the government can take the lead to foster partnership with universities, professional and industry associations.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The introduction of the minimum wage marks a new chapter in Hong Kong’s job market. However, it is questionable whether ‘money’ alone can solve the problem. According to the 2010 Towers Watson Global Workforce Study, Hong Kong’s employee engagement level is substantially lower than the global and even regional levels. Equally important is the need for employers to come up with innovative approaches to enhance productivity gains to offset the higher operating costs on all fronts. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">The Chinese Academy of Social Sciences argued that </span><span lang="EN-US" style="mso-bidi-font-family: "Georgia Bold Italic";">Hong Kong was under threat because of the city's under investment in high-tech research and development and the creation of new industries. These are probably true, but more importantly; I think Hong Kong has misunderstood what ‘innovation’ should really mean for this city. <span style="mso-spacerun: yes;"> </span>If we continue to think ‘innovation’ as an industry, a product or a technology, as implied in the Government’s six new pillars of industry, there is no way that Hong Kong can reap the real benefits of innovation across all sectors of the economy and the society.<o:p></o:p></span></div><!--EndFragment-->Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-83583030762706366742011-02-27T19:54:00.000-08:002011-02-27T19:54:12.653-08:00Meaning of the Arts and Arts Education: Need for an Ecosystem Approach<span class="Apple-style-span" style="font-family: Helvetica;"></span><br />
<div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Arts education is a rather nebulous concept in Hong Kong. Some see it as an entrance ticket to a good school. Many posit that Hong Kong should do more arts education because we need more arts talents and a bigger audience for the West Kowloon Cultural District.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The arts should bring about personal, economic and social benefits, in addition to the obvious cultural values. Quality arts education is conducive to the nurturing of creative and critical thinking, and communication skills. There is thus a strong linkage between arts education and the development of a knowledge economy that thrives on creativity and innovation. The arts also serve a tremendous social value, building social cohesion and identity. They are also powerful social inclusion tools, through empowering deprived communities. Policy makers should take an eco-system approach to arts education and audience development. </span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">By international standards, Hong Kong has one of the highest percentages of children learning arts. However, Hong Kong has yet to reap the multiple benefits of the arts because there is limited understanding in different quarters of the society about the real value of the arts and what constitutes a ‘quality’ arts education. Despite the huge number of children doing arts classes, not all of them become ‘consumers’ of the arts. </span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">Arts education is like foreign language learning.<span> </span>It does not necessarily take place in a classroom setting. If Hong Kong aspires to build a more arts literate society, we need to make the arts part of the everyday life of the populace. We are not only talking about out door or community arts but also our living environment – from the design of our city and buildings to the posters that adorn our streets and the media we consume every day.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">In addition to a more arts rich environment, the arts groups also have a role to play in arts education - so long as they receive public funding. <span> </span>Indeed audience development should not be just about promotion. We need a holistic and integrated approach to reduce the entry barriers to the arts - from programming, pricing, venue to the audience experience. We should develop peoples’ interest in different arts forms – from the more popular arts to the classical arts. Policy makers and arts providers have to take a more audience-centric approach – to understand what make or break an enjoyable audience/visitor experience.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div><div class="MsoNormal" style="text-align: justify;"><span lang="EN-US">The West Kowloon Cultural District is not just an iconic landmark.<span> </span>It will serve as a powerful catalyst in propelling Hong Kong to become a creative metropolis. It will bring a better quality of life to Hong Kong people. The hardware aside, we should take a critical look into how arts education and audience development should be done in Hong Kong. It is not so much about the number of people taking arts classes or the number of arts and cultural performances. What is more important is the quality of our arts education and offerings. We also need a sustained communications campaign to promote the values of the arts and the real meaning of arts education, without which arts will continue to be perceived as something marginal.</span></div><div class="MsoNormal" style="text-align: justify;"><br />
</div>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-17102180542671775972011-02-16T04:05:00.000-08:002011-02-16T04:05:48.947-08:00Is user-centric innovation dead?User-centric innovation has attracted a fair share of cynicisms and criticisms lately. Quoting the examples of Apple and IKEA, this recent piece argued that companies should lead their users, not the other way round. (http://www.fastcodesign.com/1663220/why-user-led-design-is-a-failure?partner=homepage_newsletter)<br />
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I recall we had a similar debate at a marketing class back in the b-school days. As what we have learnt from our business education, the short answer is really 'it depends'. Which side you take hinges on how one defines user-centric innovation. If we simply see this as asking people whether they like a certain new product concept, then user-centric innovation probably has limited value. But if we take a broader view of what user-centric innovation should be, I think there is still considerable value in listening to your customers.<br />
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I have just come across a good example today. Ashley Madison is a dating website for aspiring adulterers. The founder obviously did not ask people whether they fancied such a website. He realised that 30% of users of Internet dating services were pretending to be single when they weren't. So he discovered that there should be a market for a website for cheaters.<br />
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This is precisely user-centric innovation. Observing and listening to customers will not tell you what kind of products they need, but it will give you insights on their latent needs and wants, values and aspirations. This is by no means a straight forward process, but is definitely necessary.<br />
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By the way, if Apple would listen to me, I will tell them that they need to design a new Mac book with a screen that can be adjusted to the eye level of the user. It's a pain in the neck, spending too much time looking down on the laptop.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-31089212585000707232011-02-10T04:54:00.001-08:002011-02-10T04:55:47.980-08:00We need more high impact entrepreneurs<div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">There has been so much talk about the narrow economic base in Hong Kong. Economic studies have pointed out the strong link between entrepreneurship on the one hand, and innovation, job creation and long term GDP growth on the other. As this city is soul searching into its future competitiveness, we need to take a fresh look into what entrepreneurship should mean for 21<sup>st</sup> century Hong Kong.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Many people observe that the entrepreneurial spirit, which makes what Hong Kong is today, seems to be dissipating amongst the young generations. Conventional wisdoms have it that Hong Kong’s small domestic market and high rent spell the death of entrepreneurs. In a globalised economy, the boundaries of a market should be marked not by geography but by mentality. No doubt the high rent in Hong Kong is squeezing many small shops out of the market. But entrepreneurship is not just about retailing. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">If Hong Kong has to revive its entrepreneurial spirit, we need to look into more fundamental issues. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">We should look into the competitive advantage of Hong Kong as a service economy. Instead of product and technology innovation, Hong Kong’s entrepreneurs may stand a better chance in creating new businesses through service, process, management and business model innovations. We should stop emulating the Silicon Valley.<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">In Hong Kong and as in many other economies, business has increasingly been seen as a major cause of social and environmental ills. Hong Kong needs to nurture a new generation of ‘capitalists’ that do good and do well – sustainable enterprises that generate not just economic value, but also social and/or environmental values. <o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">A new Make a Difference (MaD) Award has recently been launched to celebrate innovative and socially responsible entrepreneurs. The Grand Award Winner is Laputa - a Hong Kong company doing eco-construction materials business. </span><span lang="EN-US">International studies have shown that by celebrating the success of entrepreneurs, we will create new aspirations for the young. It is possible to alter societal values in less than a generation. </span><span lang="EN-US"><o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">Apart from celebrating successful entrepreneurs, I as the convenor of the MaD Award have identified 8 essential conditions for Hong Kong to accelerate the development of entrepreneurship</span><span lang="EN-US">:<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">1)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Identify and support innovative and high potential entrepreneurs <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">2)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Encourage more early-stage angel investment in Hong Kong <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">3)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Closer coordination and collaboration amongst education institutes, business professionals, investors and philanthropists <o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">4)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Enhanced entrepreneurial learning for senior secondary and tertiary school students<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">5)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Encourage and facilitate more inter-disciplinary collaboration, from business to arts, sciences and technology<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">6)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Strengthen information dissemination about governmental and non-governmental support available to aspiring entrepreneurs<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">7)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Encourage the development of entrepreneurial mindsets through the education system e.g. creativity, confidence, self-motivation, risk taking and accepting failure<o:p></o:p></span></div><div class="MsoNormal" style="margin-left: 36.0pt; mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Arial;">8)<span style="font: normal normal normal 7pt/normal 'Times New Roman';"> </span></span><span lang="EN-US">Attract more entrepreneurs to start-up their ventures in Hong Kong<o:p></o:p></span></div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><br />
</div><div class="MsoNormal" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US">We need concerted efforts from the Government, businesses, educators, philanthropists, the media and last but not least, the support of parents to revive Hong Kong’s entrepreneurial spirit. <o:p></o:p></span><br />
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(Published in SCMP on 10.2.2011)</div>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-85211739728979630442011-02-01T04:23:00.000-08:002011-02-01T04:23:14.209-08:00Design is not Pretty Stuff<!--StartFragment--> <br />
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span style="mso-list: Ignore;">·<span style="font: 7.0pt "Times New Roman";"> </span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Design turns creative ideas to become practical and attractive propositions. It is a way of creative thinking, and a structured creative process with a set of skills, tools and methods. </span></span></div><div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span class="Apple-style-span" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><br />
</span></span></div><div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;"> </span><o:p><span class="Apple-style-span" style="font-family: Times;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Good design channels creativity into innovation. It ‘</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">matches people</span></span><span style="font-family: Calibri; mso-ansi-language: EN-GB; mso-bidi-font-weight: bold;"><span class="Apple-style-span" style="font-size: large;">’</span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-weight: bold;"><span class="Apple-style-span" style="font-size: large;">s needs</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> with what is technologically feasible and what a viable business strategy can convert into customer value and market opportunity’</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn1" name="_ftnref1" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[1]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;">.</span></span></span></o:p></span></div><!--StartFragment--> <div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;"> Design is not art and craft. It creates value for businesses and </span><span style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">goes much beyond aesthetic appeal. It can change the value of outputs, costs of inputs, and the efficiency with which inputs are turned into outputs. </span></span><span class="Apple-style-span" style="font-size: large;">Design also improves quality of life </span><span style="color: black;"><span class="Apple-style-span" style="font-size: large;">by providing products and services more attuned to people’s needs and minimising the impact on </span></span><span class="Apple-style-span" style="font-size: large;">the environment. </span><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="text-align: justify; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">D</span><span style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">esign can be used to:</span></span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span class="Apple-style-span" style="color: #141413; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><br />
</span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Differentiate products and services through a range of non-price characteristics from colour, style, ergonomics to performance and user experience </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Enhance product and service quality</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Improve efficiency in production or consumption of service</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Lower production/delivery costs and </span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">maintenance costs </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Arial; mso-bidi-font-weight: bold;"><span class="Apple-style-span" style="font-size: large;">Manage risk by prototyping new ideas</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Enhance image of a product, a service and/or an organization</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: "Courier New"; mso-fareast-font-family: "Courier New";"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Reduce the environmental footprint by </span></span><span lang="EN-US" style="color: black; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">reducing resources, waste and carbon emissions </span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;"><br />
</span></span><span lang="EN-US" style="color: black; font-family: Calibri; mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: large;">Design has increasingly evolved to become a strategic tool and process, through which businesses use to identify and develop new market opportunities. The more design is embedded at the strategic level, the greater its impact is on the sustainable growth and development of an organisation. Similarly, </span></span><span lang="EN-US" style="color: black; font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">design capability has to be developed across the economy and the society.</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div align="center" class="MsoListParagraphCxSpMiddle" style="text-align: center;"><span lang="EN-US" style="font-family: Calibri; mso-no-proof: yes;"><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="color: #595959; font-weight: bold;"><span class="Apple-style-span" style="font-size: large;"> </span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Georgia;"><span class="Apple-style-span" style="font-size: large;">Design is as relevant to public as to commercial organisations. Today’s public services must respond to new challenges such as an ageing population, social disparity, rising public demand, and the need for sustainable development. Efficiency alone cannot address these pressures. </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: large;"> Traditionally, design has been classified into different disciplines such as graphic, product, industrial, interior and fashion design; and more recently digital</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn2" name="_ftnref2" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[2]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;"> and interaction design</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn3" name="_ftnref3" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[3]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;">. </span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;">Some design disciplines such as industrial design are closer to sciences while others such as fashion design are arguably closer to the arts.</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: large;"> Service design is an emerging discipline focusing on the design of strategies, systems, processes and touch points. It aims at providing a unique and desirable experience to the user. It is a cross-disciplinary practice combining skills in various design disciplines, business, technology and the social sciences (anthropology, psychology and sociology). </span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;">·</span><span style="font: 7.0pt "Times New Roman";"><span class="Apple-style-span" style="font-size: large;"> </span></span></span></div><div class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: Symbol; mso-bidi-font-family: Symbol; mso-fareast-font-family: Symbol;"><span class="Apple-style-span" style="font-size: large;"><span style="font: 7.0pt "Times New Roman";"></span></span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Times;"><span class="Apple-style-span" style="font-size: large;"> Increasingly design can no longer be seen as discrete disciplines, but rather an array of interacting disciplines offering a strategic and total solution at the firm or society level. More and more leading education institutes in the world are offering inter-disciplinary design learning. </span></span><span lang="EN-US" style="font-family: Calibri; mso-bidi-font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div><span class="Apple-style-span" style="font-size: large;"><br clear="all" /></span> <hr align="left" size="1" width="33%" /> <div id="ftn1"> <div class="MsoFootnoteText"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref1" name="_ftn1" title=""><span class="MsoFootnoteReference"><span lang="EN-US"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria;"><span class="Apple-style-span" style="font-size: x-small;">[1]</span></span></span></span></span></a><span lang="EN-US"><span class="Apple-style-span" style="font-size: x-small;"> Tim Brown, </span><i><span class="Apple-style-span" style="font-size: x-small;">Design Thinking</span></i><span class="Apple-style-span" style="font-size: x-small;">, Harvard Business Review, June 2008</span></span><span lang="EN-US"><span class="Apple-style-span" style="font-size: x-small;"><o:p></o:p></span></span></div></div><div id="ftn2"> <div class="MsoFootnoteText" style="text-align: justify; text-justify: inter-ideograph;"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref2" name="_ftn2" title=""><span class="MsoFootnoteReference"><span lang="EN-US"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria;"><span class="Apple-style-span" style="font-size: x-small;">[2]</span></span></span></span></span></a><span lang="EN-US"><span class="Apple-style-span" style="font-size: x-small;"> </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: x-small;">Digital design focuses on the communication of messages and experiences that take place on computers, the internet, mobile phones, film, video and other digital technology devices.</span></span><span lang="EN-US"><span class="Apple-style-span" style="font-size: x-small;"><o:p></o:p></span></span></div></div><div id="ftn3"> <div class="MsoFootnoteText" style="text-align: justify; text-justify: inter-ideograph;"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref3" name="_ftn3" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: x-small;">[3]</span></span></span></span></span></a><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: x-small;"> </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: x-small;">Interaction design shapes the experiences of people as they interact with products, services, people, environments across a variety of contexts.</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div></div></div><!--EndFragment--> <div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span class="Apple-style-span" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><br />
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</span></div><!--EndFragment-->Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-82387205456652976532011-02-01T04:16:00.000-08:002011-02-01T04:16:18.064-08:00Creativity ≠ Innovation<span class="Apple-style-span" style="font-size: large;"><br />
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<div class="MsoNormal" style="mso-layout-grid-align: none; mso-pagination: none; tab-stops: 28.0pt 56.0pt 84.0pt 112.0pt 140.0pt 168.0pt 196.0pt 224.0pt 252.0pt 280.0pt 308.0pt 336.0pt; text-align: justify; text-autospace: none; text-justify: inter-ideograph;"><b><span lang="EN-US" style="color: #404040; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">‘Creativity, design and innovation’ are vital to the sustainable development of every society. Yet they often mean different things to different people. This is an attempt to take a more holistic and integrated look at these concepts. We hope this and the next piece can stimulate more discussions on what creativity, design and innovation mean for businesses, educators, the public and the third sectors; and what the development priorities should be for your city.</span><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></b></div><div class="MsoNormal" style="mso-layout-grid-align: none; mso-pagination: none; tab-stops: 28.0pt 56.0pt 84.0pt 112.0pt 140.0pt 168.0pt 196.0pt 224.0pt 252.0pt 280.0pt 308.0pt 336.0pt; text-align: justify; text-autospace: none; text-justify: inter-ideograph;"><span class="Apple-style-span" style="color: #404040; font-family: Calibri;"><b><span class="Apple-style-span" style="font-size: large;"><br />
</span> </b></span></div><div class="MsoNormal" style="mso-layout-grid-align: none; mso-pagination: none; tab-stops: 28.0pt 56.0pt 84.0pt 112.0pt 140.0pt 168.0pt 196.0pt 224.0pt 252.0pt 280.0pt 308.0pt 336.0pt; text-align: justify; text-autospace: none; text-justify: inter-ideograph;"><span class="Apple-style-span" style="color: #404040; font-family: Calibri;"><b><span class="Apple-style-span" style="font-size: large;"> </span></b></span></div><span class="Apple-style-span" style="color: #404040; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><b></b></span></span><br />
<span class="Apple-style-span" style="color: #404040; font-family: Calibri;"><b><div class="MsoNormal"><b><span lang="EN-US" style="color: #0080ff; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="font-size: large;">1.</span><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="font-size: large;">Creativity </span></span></b><span lang="EN-US" style="color: #0080ff; font-family: 'MS ゴシック';"><span class="Apple-style-span" style="font-size: large;">≠ </span></span><b><span lang="EN-US" style="color: #0080ff; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Innovation</span><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></b></div><div class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"></div><ul><li><span class="Apple-style-span" style="font-weight: 800;"><span class="Apple-style-span" style="font-weight: bold;"><span lang="EN-US"><span class="Apple-style-span" style="font-size: large;">Creativity is the ability to generate new ideas. </span><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="font-size: large;">It is the first step to innovation.</span></span></span></span></li>
<li><span class="Apple-style-span" style="font-weight: 800;"><span class="Apple-style-span" style="font-weight: bold;"><span lang="EN-US"><span class="Apple-style-span" style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">All people can be creative provided the conditions are right and they have the relevant knowledge and skills.</span></span></span></span></span></li>
<li><span class="Apple-style-span" style="font-weight: 800;"><span class="Apple-style-span" style="font-weight: bold;"><span lang="EN-US"><span class="Apple-style-span" style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">The potential for creativity is not limited to any particular role or process within a firm. Successful companies promote creativity in all parts of the organisation.</span></span></span></span></span></li>
<li><span class="Apple-style-span" style="font-weight: 800;"><span class="Apple-style-span" style="font-weight: bold;"><span lang="EN-US"><span class="Apple-style-span" style="color: #141413;"><span class="Apple-style-span" style="color: #404040;"><span lang="EN-US" style="font-family: Symbol;"><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">Factors that influence creativity include management beliefs, systems, practices and incentives.</span></span></span></span></span></span></span></li>
<li><span lang="EN-US"><span class="Apple-style-span" style="font-size: large;">Creativity is vital for each and every facet of the economy and the society. It is not just the creative industries. </span><span style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">All industries have to be creative.</span></span></span></li>
<li><span lang="EN-US"><span style="color: #141413;"><span class="Apple-style-span" style="color: #404040;"><span lang="EN-US" style="font-family: Symbol;"><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="color: #141413;"><span class="Apple-style-span" style="font-size: large;">Factors that influence creativity in a society include culture, education, government regulations and competition.</span></span></span></span></span></li>
</ul><span class="Apple-style-span" style="font-size: large;"><br />
</span> <div class="MsoNormal"></div><div class="MsoNormal"><span lang="EN-US"><span class="Apple-style-span" style="font-size: large;"> </span></span><b><span lang="EN-US" style="color: #0080ff; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">2.</span><span class="Apple-style-span" style="font-size: large;"> </span><span class="Apple-style-span" style="font-size: large;">Innovation is > new</span></span></b><span lang="EN-US" style="color: #0080ff; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> </span><b><span class="Apple-style-span" style="font-size: large;">product or technology</span></b></span></div><div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"></div><ul><li><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Creativity is about coming up with ideas while innovation is about bringing ideas to life</span></span></li>
<li><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="color: #404040;"><span lang="EN-US" style="font-family: Symbol;"><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Innovation can be big or small, radical or incremental.</span></span></span></span></li>
<li><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="color: #404040;"><span lang="EN-US" style="font-family: Calibri;"><span lang="EN-US" style="font-family: Symbol;"><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Most people associate innovation with </span><b><span class="Apple-style-span" style="font-size: large;">product</span></b><span class="Apple-style-span" style="font-size: large;"> and </span><b><span class="Apple-style-span" style="font-size: large;">technology</span></b><span class="Apple-style-span" style="font-size: large;">. There are other types of innovation and they are not necessarily mutual exclusive:</span></span></span></span></span></li>
</ul><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: 'Courier New';"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Service innovation</span></span></b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> is the introduction of </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">new or improved service offerings and user experience. It is relevant to both commercial (e.g. financial services) and public organisations (e.g. education and health care), service and manufacturing industries</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn1" name="_ftnref1" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[1]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;"> alike (e.g. iPhone and Apps). </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: 'Courier New';"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Business model innovation</span></span></b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> involves changes in the WHAT (the value proposition of an offering), WHO (customers, collaborators or competitors and/or HOW a firm </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">aligns its resources, processes and profit formula. IKEA, for example, brings together low cost and stylish design.</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: 'Courier New';"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Process innovation</span></span></b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> results in a</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> change in the way a product or service is created, delivered, sold or consumed (e.g. supply chain management)</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: 'Courier New';"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Management innovation</span></span></b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> is</span></span><span lang="EN-US" style="color: #141413; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> the introduction of a new management practice, process, structure, or technique to further organizational goals (e.g. flexi hours)</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"><span lang="EN-US" style="font-family: 'Courier New';"><span class="Apple-style-span" style="font-size: large;">o</span><span style="font: normal normal normal 7pt/normal 'Times New Roman';"><span class="Apple-style-span" style="font-size: large;"> </span></span></span><b><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Social innovation</span></span></b><span lang="EN-US" style="color: #535353; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"> </span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">refers to new ideas that resolve existing social, cultural, economic and environmental challenges. It can take place in the for-profit, nonprofit and public sectors and increasingly in the spaces between these three sectors (e.g. urban farming).</span></span><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;"><o:p></o:p></span></span></div><div class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-align: justify; text-indent: -18.0pt; text-justify: inter-ideograph;"></div><ul><li><span lang="EN-US" style="color: #1a1718; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">More and more developed economies have adopted services and non-technological innovation as a strategic development priority</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn2" name="_ftnref2" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="color: #1a1718; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[2]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;">. </span></span><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Leading companies and education institutes are shifting their focus from product to service innovation as ‘the next hot area’</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn3" name="_ftnref3" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="color: #262626; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[3]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;">.</span></span><span lang="EN-US" style="color: #262626; font-family: Helvetica;"><span class="Apple-style-span" style="font-size: large;"> </span></span><span lang="EN-US" style="color: #1a1718; font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">Innovation in services often involves complementary changes to technologies and non-technological factors (such as skills and organisational culture and structure) and hence the importance of multi-disciplinary collaboration.</span></span></li>
<li><span lang="EN-US" style="color: #1a1718; font-family: Calibri;"><span class="Apple-style-span" style="color: #404040;"><span class="Apple-style-span" style="font-size: large;">There has also been a significant shift from a producer and technology-centric approach to </span><i><span class="Apple-style-span" style="font-size: large;">user-centric innovation</span></i><span class="Apple-style-span" style="font-size: large;">, whereby innovation is inspired or even driven by users in a more and democratic manner</span><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftn4" name="_ftnref4" title=""><span class="MsoFootnoteReference"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri;"><span class="Apple-style-span" style="font-size: large;">[4]</span></span></span></span></a><span class="Apple-style-span" style="font-size: large;">.</span></span></span></li>
</ul><br />
<div style="mso-element: footnote-list;"><br />
<hr align="left" size="1" width="33%" /><div id="ftn1" style="mso-element: footnote;"><div class="MsoFootnoteText"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref1" name="_ftn1" style="mso-footnote-id: ftn1;" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-size: 9pt;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Cambria; font-size: 9pt;">[1]</span></span></span></span></a><span lang="EN-US" style="font-size: 9pt;"> </span><span lang="EN-US" style="color: #1a1718; font-family: Calibri; font-size: 9pt;">Successful manufacturing firms often provide both a physical product and an accompanying service.</span><span lang="EN-US" style="font-size: 9pt;"><o:p></o:p></span></div></div><div id="ftn2" style="mso-element: footnote;"><div class="MsoFootnoteText"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref2" name="_ftn2" style="mso-footnote-id: ftn2;" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;">[2]</span></span></span></span></a><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"> Council of the European Union, <i style="mso-bidi-font-style: normal;">Council Conclusions on a Broad-based Innovation Strategy</i>, Dec 2006 <o:p></o:p></span></div></div><div id="ftn3" style="mso-element: footnote;"><div class="MsoFootnoteText"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref3" name="_ftn3" style="mso-footnote-id: ftn3;" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;">[3]</span></span></span></span></a><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"> ‘Service Innovation: The Next Big Thing’, <i style="mso-bidi-font-style: normal;">Business Week</i>, 29 March 2007<o:p></o:p></span></div></div><div id="ftn4" style="mso-element: footnote;"><div class="MsoNormal" style="mso-layout-grid-align: none; mso-pagination: none; text-autospace: none;"><a href="http://www.blogger.com/post-create.g?blogID=7084157362950601247#_ftnref4" name="_ftn4" style="mso-footnote-id: ftn4;" title=""><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"><span class="MsoFootnoteReference"><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;">[4]</span></span></span></span></a><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"> Richard Seymour (a renowned designer) said </span><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;">at the sixth annual meeting of the International Advisory Panel of the </span><span lang="EN-US"><a href="http://www.designsingapore.org/"><span style="color: windowtext; font-family: Calibri; font-size: 9pt; text-decoration: none;">Design Singapore</span></a></span><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"> Council that </span><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;">Singapore ‘needs to place anthropology before technology.’ (Oct 2010)</span><span lang="EN-US" style="font-family: Calibri; font-size: 9pt;"><o:p></o:p></span></div></div></div><br />
</b></span>Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-9562529864153141372010-11-24T21:27:00.000-08:002010-11-24T21:27:42.439-08:00Making Money HappilyZappos.com is the world’s largest and arguably the most successful online shoes and clothes retailer. Tony Hsieh, the CEO of Zappos, sums up the goal of his company in two words: “delivering happiness” to both its customers and employees. He did a talk at the Make a Difference Forum in Hong Kong earlier this year on his company philosophy to an Generation Y audience. One of the participants said, “How come we do not have companies like Zappos.com in Hong Kong? If there is one, I will jump to work with them – even with less pay.” Here is what I think we can learn from Zappos.<br />
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First, Hsieh is adamant about the importance of having a meaningful company vision. To many people, vision is the airy fairy thing that adorns the annual report and has limited relevance to the daily businesses. To Zappos, having a meaningful vision is essential to inspire employess to give their best on an every day basis – in good and bad times. And the money will follow. The 20th century carrot and stick approach is no longer enough to boost productivity and to carry your company through hard times. <br />
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Second, Heish believes that Zappos’ culture is its number 1 competitive advantage. Competitors can eventually copy everything else that it does, but they can never copy its culture and values. Organisations have to stick by their core values in hiring and firing, performance reviews and in how the workforce is managed day in and day out. And most importantly, the top management has to lead by example.<br />
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Third, freedom is one of the essential conditions for happiness. The most prosperous nations of the world are those that advance the cause of freedom and where people are encouraged to explore their potential. Similarly, if you look at the most innovative and successful companies in the world, they thrive on empowering their employees. <br />
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Fourth, economist John Helliwell found that trust is the greatest contributor to workplace happiness, beating out pay, workload, or perks. Zappos has embraced an ethos of trust and transparency, using social networking tools such as Facebook, Twitter and blogging to share information, both good and bad, with employees, customers, and anyone else interested in the company.<br />
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It has become almost a fad lately to talk about the challenges of managing the Gen Y in the work place. Actually the ‘uniqueness’ of the Gen Y are more exaggerated than real. Young people demand meaning, freedom, trust and an open culture. But so do the rest of us – whether you are baby boomers or Generation X. The only difference is that Gen Y is more vocal whereas we the older folks tend to accept things as they are. Another commonly held belief is that the HR department is the custodian of staff morale. But without the vision and commitment of the top management and the board to build a culture of happiness, there is actually very little that the HR people can do. <br />
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Some people may argue that the Zappo way is only relevant to the Americans. I would argue that there is no reason why Asian organisations cannot - if we are prepared to invest in the happiness of ouremployees, sacrifice short term financial gains for long term sustainable growth.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-69119315719649796082010-11-21T04:40:00.000-08:002010-11-21T04:42:17.871-08:00Defining DesignDesign means different things to different people. Here are what I think are essential to understanding what design is.<br />
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Design is not art or pretty stuff. Design is a multi-disciplinary process integrating art and culture, user and market needs, business considerations and technological considerations. <br />
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It follows that design is not for people who like to draw. We need to switch from the concept of a designer to a design team with professionals from various disciplines working together, from psychologists, sociologists, anthropologists to business strategists, marketers, engineers, IT specialists and so on. In the renowned Mayo Clinic in the States, both doctors and nurses work in a design team to design better experience for patients and more effective operation processes for the Clinic.<br />
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Design should in no way be associated with luxury, but should be part of our every day life, whether you have deep pockets or not. Ikea is a good example that design and good design can be affordable to most people. In Europe and the US, many governments are using design principles and processes to improve the delivery of health care, education and social services for the underprivileged.<br />
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So design is applicable to both tangible 'stuff' and intangible services and experience. If Hong Kong has nothing but services industries, our schools should teach 'service design' in a big way. And it is not just the design school. Service design should be integrated into each and every discipline. Our design incubators like the InnoCentre and the future Hollywood Road Creative Cluster should open its doors not just to product, graphic, interior, fashion and jewellery designers, but design teams that design business strategy, process, service and experience. <br />
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Finally, design helps us understand the difference between creativity and innovation, which are often treated as synonyms but are actually two vastly different concepts. Design is the process that translates creative ideas into useful and profitable applications (i.e. innovation). Here is my analogy: creativty is flour, innovation is bread and design is the bakery process.<br />
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I would like to end with two more clarifications: Innovation is not an industry - it should permeate in every industry; and innovation is not just about technology. Innovation has to fulfil unmet needs in the marketplace. This is why countries like Denmark are investing heavily in developing and promoting user-centric innovation.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com1tag:blogger.com,1999:blog-7084157362950601247.post-53808052069157437142010-11-13T04:14:00.000-08:002010-11-13T04:14:25.741-08:00Communication channels with your customersI was annoyed by a sales call today ...<br />
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A saleswoman called me up when I was having lunch today, trying to cross sell some magazine titles to me. I asked her to email or fax the information to me instead, but unfortunately she declined. Apparently she is only responsible for making sales calls.<br />
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Everyone has his/her own preferred means of communication. One of the 'tricks' in managing the boss is to know whether he/she prefers verbal or written communication. The same principle should apply to managing your customers. Do you know or have you asked your customers whether they want to receive sales calls, emails, SMS or the conventional flyers? Does your organisation have the flexibility to enable your staff to communicate to different customers differently?<br />
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I am pretty sure that if I had received an email today from the salesperson, I would have a 50% chance of ordering some new magazine titles. Tough luck for the woman on the line.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0tag:blogger.com,1999:blog-7084157362950601247.post-6237948279463176502010-11-09T06:44:00.000-08:002010-11-09T06:44:14.542-08:00Find a way into the heart of customersThere is good piece in the FT today on the importance of designing emotions in the operation process. How can organisations handle customers who are upset, alarmed or disgruntled?<br />
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Referring to a paper recently published in the MIT Sloan Management Review, the piece points out that operations people should not see themselves as purely rational or financial beings. "They don't realise that emotions are very process driven." The paper argues that companies have to identify the emotions that they most frequently deal with and train their staff to deal with these highs and lows. In particular, it is important to design 'trust' and 'control' in the customer management process.<br />
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Another piece in the FT today picks on a similar theme. It posits that IT professionals nowadays should not just be concerned about efficiency gains, but should enable the organisation to be more effective. For example, the HR director can use IT systems not just for benefits and payroll, but for talent management and recruitment.<br />
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So running a successful company requires empathy from staff at all levels. TLC is no longer the airy fairy stuff but a core component of any well run organisations and any successful brand.Rachel Chanhttp://www.blogger.com/profile/14567617599937061611noreply@blogger.com0