The Management Of 21st Century: Hong Kong

Hong Kong is the most suitable place for business. It is characterized by its

high degree of internationalization, business friendly environment, rule of law, free

trade and free flow of information, open and fair competition. Therefore, the business

management is a very important part in the business. The management of Hong Kong

includes the external environment and the internal environment.

The external environment includes the economic environment, labour market

and social environment.

In the economic environment, Hong Kong has faced the Asian financial turmoil

in 1997. But now, the overall economic condition progressively improved. Later,

China will be a member of the World Trade Organization (WTO). Hong Kong will

gain a lot of business opportunity in different trades, such as banking, insurance,

telecommunication. Those businesses need the new management for their future. For

example, they must plan the new organizationÐŽ¦s goals, or they estimate the demand of

human resources in the future. However, this phenomenon will disappear very soon

when China would be a member of WTO after two years. It is because Hong Kong

may not be the intermediate between China and the world since China will open their

market for the world. Therefore, the Hong Kong companies may plan how to reduce

the labour supply within an organization at that time.

In the labour market, manpower is Hong KongÐŽ¦s most treasured asset. Because

of much labour supply, it does not enough labour demand in the market. Moreover,

there are many graduates who do not have the working experience. Most of the

companies do not employ them because the companies do not want to waste the

training cost and time if the employee only work for few months. Also, if the

employee has working experience, the employee would do the job faster and easily

since the employee has the same working experience. Therefore, most of the Hong

Kong companies setting the minimum recruitment requirement must need one to four

years working experience. This is the present of human resources management in

Hong Kong.

In the present social society of Hong Kong, there are many families who have

been divorced. As a result, there are many single parent families in Hong Kong. The

parent in the single parent family are so difficult to take care their children when they

are working. Most of the managers in Hong Kong concern the single parent

family life which may affect their working. The manager may let them to phone call

their children in the working hours, or let them go to home early if their children have

problems. This provides a good atmosphere between the manager and the employee.

Besides the external environment, the internal environment includes workforce,

work/task demand and incentive system.

About the workforce in Hong Kong, there are many different racial people who

work in the same company. Although they work in the same company, the company

may have different management for them. It is because their culture are so many

different. Also, some of the companies have been globalization. The management of

the Hong Kong company may not be suitable for the company in other countries. It is

because there is different structure and culture in different companies. Therefore, the

company must set the most suitable