CROSS INDUSTRY EXCHANGE SEMINAR: SME SURVIVAL KIT DURING CRISIS 跨行業交流研討會: 危機衝撃下中小企生存包

Teal Belt Consultants
6.10.2021, 04:00

Seminar

The World New Economy Council is happy to announce the successful completion of the second cross-industry exchange seminar co-hosted by the COUNCIL and MANESE L INTERIORS, on October 5, 2021.

Speech and Discussions

Dr. Ngan Lei Tjen, the honorary speaker of the seminar, shared her recommended SME survival kits during a crisis, based on her insights from numerous consultation sessions with owners of diverse SMEs and start-ups during the pandemic. The seminar participants then exchanged innovative ideas on their business transformation during the pandemic.

Quotes

"The pandemic has led to two major developments. Firstly, it drives permanent cognitive and behavioral changes among people who now think differently, live differently, and spend differently. Secondly, these cognitive and behavioral changes urge technology advancement and push faster forward the New Economy development. Businesses must adopt to these profound changes to survive in the transition to New Economy.” said Dr. Ngan.

She went on to say that “…Practically all SME businesses are significantly impacted by the above changes resulted from the genuine concerns about staying healthy and the shift of both spending level and spending attitude due to the economic stress. In addition, the irreversible advancement of the internet and mobile technology magnifies the impact.”

“…The impact on the SMEs' revenues could go either positive or negative direction, depending on their industries and their adaptation to the fast forward New Economy pace", said Dr. Ngan. “For example, with the community's deep-down concerns about staying healthy with social distancing, the sectors which manage to promote online a healthy lifestyle thrive. Examples are developers of mobile weight-training or exercise applications that facilitate health-keeping discipline at a social distance, online and physical shops selling sports gear, online and physical shops selling health food supplements.”

"…The health concerns together with the spending attitude hit hard some SMEs which are managed in more traditional manner," said Dr. Ngan. "…but if these industries would accept progressively application of data technologies, and to strengthen its management fundamentals, they have good chance of turn-around."

Sharing

A seminar guest, Mr. Sam Wong, shared his transformation idea. He is a taxi company owner who believes that the traditional method to manage the taxi-owner/driver teams is demotivating in the present circumstances.

He is lobbying the industry leaders to dedicate more resources to individualized data collection and analytics to help understand the taxi owners/drivers' ecology.

He believed that the taxi companies must take more initiative to gather data on taxi customer profile change, their complaint/satisfaction trends, the taxi owners/drivers' income change, their stress level change, the competitions they face, and their sources satisfactions/dissatisfactions.

The outcomes of the data analytics will enable the taxi companies to provide optimal solutions to support a better ecology for the taxi-owners/drivers to thrive.

The Council would like to thank the honorary guests who joint the seminar.

Honorary Speaker:

Dr. Ngan Lei Tjen, Founder of World New Economy Council Limited

Sharing Guests:

Mr. Teddy K C Chan

Supply Chain Veteran, Electro-mechanical components manufacturing (Manufacturing Industry)

Miss Carrie S K Fong

Online Shop Owner (Design Industry)

Mr. Rice L Lee,

Business Partner, Health Risk Assessment Center (Health Industry)

Miss Manese M S Leung

Co-founder, Manese L Interiors (Well-being Industry)