A Strategy and Model of Change for SMEs in the Hong Kong Manufacturing Industry

The re-establishment of the Hong Kong manufacturin g industry as a local pillar of economy is vital in the restructuring of the e conomy in Hong Kong. The SMEs should play a key role in such a process. It requi res major changes to take place in the operation of the enterprises in order to enhance their competitiveness and therefore the chance of success in the restruc turing process. It is suggested that the strategy of going for high value-added products and related services together with the practice of "focused factory" s hould be adopted by the SMEs in the industry. Effective change management by the top managers and owners in the SMEs is an underpinning element for the success. Basing upon the characteristics of the SMEs in the industry, a model of change is proposed. The roles that should be played by the top management and owners in the industry are suggested and discussed. It is believe that the proposal and s uggestions made would help the industry to effectively manage the changes that a re necessary for the industry to shape the competitiveness of the industry in th e world arena in future.

The re-establishment of the Hong Kong manufacturin g industry as a local pillar of economy is vital in the restructuring of the e conomy in Hong Kong. The SMEs should play a key role in such a process. It requi res major changes to take place in the operation of the enterprises in order to enhance their competitiveness and therefore the chance of success in the restruc turing process. It is suggested that the strategy of going for high value-added products and related services together with the practic...