New World Development (NWD) has concluded a program that aims to identify entrepreneurial talent that could potentially be put to use in new business initiatives and projects within the group.
“A．Entrepreneur Adventure Programme” was conducted in January and February as part of efforts to discover human resources talent to lead new projects within the business conglomerate.
In the program, prospective entrepreneurs, either as individuals or as teams, competed in a form of hackathon.
Under the theme “New World Cultural Tech”, participants laid out policy proposals on 14 issues including education, e-sports and multimedia, the Hong Kong Economic Journal reported.
“Quite a number of large enterprises in the United States enlist entrepreneurs who possess innovation by means of new thinking. This doesn’t only prepare for the current moment but for the future,” said Jenny Chiu, NWD’s human resources director.
Chiu said the group has to pave a road for the next 10 years by drawing potential entrepreneurs, enabling them to become pioneers leading projects in the group.
To achieve this aim, NWD does away with a number of traditional constraints. For instance, the organizer won’t ask anything on the individuals’ academic qualifications. In terms of the judging criteria, the participants were expected to take critical questions from business experts during a tutoring period.
Each of the top three winning teams can receive a cash prize. Other outstanding participants can also be given real job opportunities such as being as a full-time staff member or appointed as consultant or project partner, receive funding, or being invited to join the Business Incubator of the company.
Kenneth Chan, NWD’s assistant general manager for strategic planning who instructed participants in the “tutors’ counseling session”, said individuals should be hired according to their talents, and that there is no one single formula all the way from the start to end in relation to recruitment.
Methods for recruiting talents can be innovative, according to Chan, but the judging criteria cannot be formed “out of the blue” where they cannot go beyond all boundaries.
Participants have to be line with the vision of the company, he said, adding that they need to possess critical thinking, creativity and strategic planning ability, in addition to team spirit and leadership, while clearly understanding their contributions in different roles.
As far as product development is concerned, the entrepreneurs have to mark a distinct positioning for their products and must have the ability to solve problems arising in areas such as personnel, finance, and legal matters. They should be able to make ideas come to fruition through good implementation skills.
Adapted from an article that appeared in the Hong Kong Economic Journal on Feb 20
Translation by Jonathan Chong
[Chinese version 中文版]
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