Developing an international innovation and technology hub is one of the strategic positionings of the Guangdong-Hong Kong-Macao Greater Bay Area. In order to achieve this goal, the “Guangzhou-Shenzhen-Hong Kong-Macao” innovation and technology corridor will be built by actively attracting and connecting global innovation resources. Cities in the Greater Bay Area have their own positioning and provide corresponding preferential policies for talents in different industries or professional fields to bring in worldwide professionals. Given these new economic changes, how should the Hong Kong enterprises realign to embrace the challenges?
You will find the answer from this issue! eTACSEN is launching a new column to show a whole new-level perspective of the Greater Bay Area, demonstrating the development trend of Hong Kong companies in multiple dimensions.
Corporate Culture: The Key Of Cross-Regional Linkage
As Hong Kong, a part of The Greater Bay Area is seen as an international financial center and a strategic hub for many international customers, the local companies can leverage the financial and geographic advantages, providing more chances and strengthening multi-regional as well multi-city cooperation to different clients, which in turn also increase their original advantages and opportunities.
However, how to ensure that cross-regional collaboration is successful? eTACSEN believes that convergence of corporate cultures is the key to the cross-regional linkage among enterprises. It would be improving collaborative efficiency.
Although with an implemented policy about the Greater Bay Area, the cultures of Mainland China and Hong Kong are in a period of integration, there is a certain degree of cultural differentiation between the two places.
- Differences in interpersonal relationship handling:
The Mainland companies are mainly relationship-oriented. It is commonly referred to that interpersonal relationship is a priority before executing projects since things would go more smoothly with good relations, while Hong Kong companies tend to be task-oriented as western countries, in which the company cultures focus on the tasks that need to be performed before dealing with interpersonal relationships.
- Differences in contract handling:
Hong Kong companies seldom amend the contract terms once they are signed. Even after the contract terms are implemented, local companies in Mainland China may have the mindset that everything can be negotiable even after the contracts have been signed.
When it comes to expanding Mainland’s market, being familiar with and sensitive to the local culture, understanding the cultural differences, building common values, will enhance Hong Kong companies’ accuracy of cross-regional decisions and smoothly accelerate business expansion.
Top-Down Approach Should Not Be The Only Way To Promote Corporate Culture
A survey (Kouzes & Posner, 2017) reveals that the more clear a person is about their personal values, the more able they are to commit to an organization. Nevertheless, most companies adopt a pure “top-down” approach when it comes to promoting corporate cultures. By using this standardized and formalized model, companies can achieve a faster result. With that being said, leaders could require employees to follow orders, but they could not manipulate their minds.
The implication of the above survey is :
Linking Personal Values With Company Values is the Key in Promoting Corporate Culture
It is believed that 80% of employees agree on the importance of corporate values; however, very few of them associate their personal values with corporate values.
Leadership plays an essential role to promote corporate culture. That’s the reason that a good company should motivate all leaders to realize the relevance between personal values and corporate values so that they can lead by example, be of the same mind and encourage teammates to participate in finding better solutions. The new method allows employees to be a real part of the corporate.
When working with managers from Mainland China, it is advisable to consider local culture and customs on the basis of the group culture, which can make the promotion of corporate culture have twice the effectiveness with half the effort.
Case Studies
eTACSEN successfully assisted Hong Kong logistics giant, leading domestic telecommunication companies, Hong Kong family businesses ranging from retailing, real estate, and garment industry with their leadership training. They eventually truly understand the relations between individual and organizational values through a series of panel discussions from middle to senior management. It helps to effectively promote the corporate culture from Hong Kong to East China, South China and the world, achieving cultural unity and cross-regional linkage.
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The Leadership Challenge
