The term “Upgrading and Transformation” in this Award means an essential reformation in the core business performed by an enterprise. An enterprise re-organises its business structure in the light of the changing environment and evolving market, resulting in the development of a new profit-making model. This Award emphasises the effectiveness and sustainability of the overall planning and results of the upgrading and transformation of an enterprise.
Participating companies must be able to demonstrate the feasibility of the overall planning and sustainability of the Upgrading and Transformation Programme, such as the reasons for change, objectives, scope and proposal, which enable them to attain initial and remarkable achievements, to enhance their competitiveness partially or in a comprehensive manner, to achieve immediate benefits or long-term sustainable development. In addition, they can be served as exemplars of the industry.
The core business reform programme will be assessed according to the following criteria:
Visions and Objectives of Reform (10%)
- How does the enterprise analyse the internal and external business environment?
- How does the enterprise formulate reform’s visions and objectives according to the analysis of external business environment and internal capabilities?
- How does the enterprise pass down the vision and objectives of the reform to enlist support from stakeholders?
Programme Plan (20%)
- How does the enterprise formulate feasible and practicable reform programme for core business?
- How does the enterprise ensure itself achieve sustainable growth as well as market expansion?
Implementation and Adjustment (20%)
- How does the enterprise implement the reform programme progressively, including organising resources, building up changes and coordination abilities, etc.?
- How does the enterprise regularly review the effectiveness of reform and keep making improvements?
Effectiveness of Programme (30%)
- How does the enterprise assess phased, specific and measurable achievements of the core business reform, such as profit improvement, development of new technology, brand building, market expansion and increase in the number of sales channels?
- Enterprises ‘overall business performance after the implementation of the programme (including financial performance, market share, customer satisfaction, etc.)
- How does the enterprise enhance social impact and facilitate social development through the reform of its core business (such as resources saving, pollution reduction, creation of job opportunities, and nurturing of talents, etc.)?
Sustainability of Reform (20%)
- How does the enterprise ensure long-term sustainability in order to maintain and enhance the effectiveness of its core business reform programme?
- How does the enterprise predict future changes in internal and external environment, and ensure the sustainable development of its core business reform programme?
Assessment and Judging
Phase 1: Preliminary Assessment and Shortlisting
Submissions from all entrants will be screened by the “HKYIC Professional Assessment Team”.
Phase 2: Judging Interview
Shortlisted enterprises will be invited to present their submissions to the “HKYIC Judging Panel” consisting of representatives from government department, chambers of commerce, industrialists, experts and scholars. They may be asked to receive observational visits, and to supply additional
information or supporting documents. Based on the interviews and information provided, the “HKYIC Judging Panel” will nominate finalists to the “Final Judging Panel”.
Phase 3: Final Judging
“The Final Judging Panel” consisting of members invited by the HKSAR Government and Leading Organisers of the Hong Kong Awards for Industries will make the final decision regarding award recipients based on the recommendation of the “HKYIC Judging Panel” .