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Without doubt, the job market is shrinking. Re-structuring of the economy and the current financial crisis are but some of the causes of this state of affair. As far back as 20 years ago, it was predicted that increased application of technology will ultimately displace large number of workers. It is now happening to managers and professionals.
The preferred option for most people remains secure employment with a large corporation - and preferably one which adopts best practices for staff welfare and development. This ideal is still possible, though the probability of achieving it is more limited than in the past.
But Hong Kong has established for itself a reputation for enterprise, for keeping ahead of the game, and for exploiting to the full its greatest natural resource - the talent of its people. Now, there are voices to be heard, encouraging us, to start our own business.
This is indeed possible as the 90 participants at the Entrepreneurship for the 21st Century Programme have learned from the Course Director, Mr. Louis Pong Wai Yan, Chariman of L. P. Lammas International Limited, and the successful entrepreneurs Mr. Pong invited to address the participants.
Starting one's own business is not easy, but there are rules and tips that would-be entrepreneurs may follow to maximise the likelihood of success. Over 15 sessions, the first of which was held on 27 September 2001, participants have been or will be taken through these issues:
1) The Entrepreneurial Process,
2) The Venture Idea,
3) Opportunity Recognition,
4) Screening Venture Opportunities,
5) The Entrepreneurial Manager,
6) The New Venture Team,
7) The Family Venture,
8) The What, Whether, and Why of the Business Plan,
9) The Deal: Valuation, Structure, and Negotiation,
10) Obtaining Debt Capital, and
11) Managing Rapid Growth.
At the final session, participants will be required to present their business idea to a panel of judges.
The winner will be awarded $1 million by the Course Director to put the business idea into practice.
About two-thirds of the participants are HKU graduates and seasoned professionals who are interested in starting their own business. The remaining one-third comprises current undergraduates, postgraduate students and administrative staff of HKU.
Friends in the media are invited to attend one of the sessions and interview the Course Director. Filming of the event and interviews with participants will be arranged on request. Enquiry to Ms Cindy Chan (Tel: 2859 2314) of the Careers Education and Placement Centre, The University of Hong Kong. Please note that the course ends on December 6, 2001.
Going Fishing - for employment or income?
15 Nov 2001
The Hong Kong community has been warned about possible deteriorating employment prospects, both for new graduates as well as seasoned professionals. Indeed, unemployment in the general population stood at 4.5% in the last quarter of 2000. By comparison, new graduates from HKU were more fortunate than the general norm. At the end of the year, only 2.3% of that year's cohorts were unemployed. Prospects for this year are bleak: the number of graduate positions has dropped by 43% since September 2001. Confidence has been further undermined by the frequent report about redundancy and cuts in salary and bonus.
Without doubt, the job market is shrinking. Re-structuring of the economy and the current financial crisis are but some of the causes of this state of affair. As far back as 20 years ago, it was predicted that increased application of technology will ultimately displace large number of workers. It is now happening to managers and professionals.
The preferred option for most people remains secure employment with a large corporation - and preferably one which adopts best practices for staff welfare and development. This ideal is still possible, though the probability of achieving it is more limited than in the past.
But Hong Kong has established for itself a reputation for enterprise, for keeping ahead of the game, and for exploiting to the full its greatest natural resource - the talent of its people. Now, there are voices to be heard, encouraging us, to start our own business.
This is indeed possible as the 90 participants at the Entrepreneurship for the 21st Century Programme have learned from the Course Director, Mr. Louis Pong Wai Yan, Chariman of L. P. Lammas International Limited, and the successful entrepreneurs Mr. Pong invited to address the participants.
Starting one's own business is not easy, but there are rules and tips that would-be entrepreneurs may follow to maximise the likelihood of success. Over 15 sessions, the first of which was held on 27 September 2001, participants have been or will be taken through these issues:
1) The Entrepreneurial Process,
2) The Venture Idea,
3) Opportunity Recognition,
4) Screening Venture Opportunities,
5) The Entrepreneurial Manager,
6) The New Venture Team,
7) The Family Venture,
8) The What, Whether, and Why of the Business Plan,
9) The Deal: Valuation, Structure, and Negotiation,
10) Obtaining Debt Capital, and
11) Managing Rapid Growth.
At the final session, participants will be required to present their business idea to a panel of judges.
The winner will be awarded $1 million by the Course Director to put the business idea into practice.
About two-thirds of the participants are HKU graduates and seasoned professionals who are interested in starting their own business. The remaining one-third comprises current undergraduates, postgraduate students and administrative staff of HKU.
Friends in the media are invited to attend one of the sessions and interview the Course Director. Filming of the event and interviews with participants will be arranged on request. Enquiry to Ms Cindy Chan (Tel: 2859 2314) of the Careers Education and Placement Centre, The University of Hong Kong. Please note that the course ends on December 6, 2001.
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