Professor Judy Tsui is associate vice-president, dean of the faculty of business and director of the Graduate School of Business at Polytechnic University (PolyU). Here she gives us her insights into globalisation and the latest business trends.
A number of Chinese brands are emerging on the world stage and could become the next global names, as numerous brands from the West have done. What barriers do you think need to be overcome for Chinese brands to become global?
A successful global brand offers a unique experience and lasting value to different groups of customers. Delivery of quality product/service and management should be given priority. To go global, Chinese companies should focus on quality, safety and creativity. While quality and safety ensure the integrity of a brand, creativity refreshes it.
Customers value an overall brand experience that creates a feeling of individuality. Brand management should take a holistic approach where everything from product and service, through to shop environments and staff training, to internal and external communication should be carefully planned and co-ordinated to fulfil your promise in a consistent manner.
We hear a lot about globalisation, but what does it mean to local companies in Hong Kong compared with large multinationals that have regional offices here? Do small local companies benefit from globalisation, and how?
Globalisation means both threats and opportunities to small and medium-sized enterprises (SMEs).