Due to the COVID-19 pandemic, many of us are facing different kinds of challenges and started new ways to deal with them. Starting from February, we will have different alumni from East Asia region to share their insights and stories monthly in 2021.

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Thriving in Adversity
Mr. Barry Tong

Hong Kong has yet to recover from the pandemic-ravaged economy. While spurring all-round recovery is of utmost importance among businesses, as a leadership from professional service sector, one should stabilise internal operation and help the firm navigate through turbulences during the challenging time.

From a macro perspective, insights determine how far you can go. It is important to keep abreast of business news, whether domestic or international. One of the good ways to maintain competitive edge is to closely monitor the measures taken by competitors and avoid being the laggard of the industry. Industry and market trends provide market intelligence on how to attract potential customers. A Chinese idiom says, “know yourself and know your enemies, and you will never be defeated.” Having a thorough understanding of the situation in different industries is your advantage over your competitors.

Resource planning and allocation at company level are also crucial. Through evaluating the company’s financial and non-financial indicators, we have to set out plans proactively to guide the company to sustainable development. It is especially important to make sure resources are utilised properly and to avoid redundance in order to keep the company healthy.

The other key to success is to manage and connect with different stakeholders. Marketing and networking events can maintain the firm’s exposure and approach potential clients. Continuous communication with existing clients and stakeholders such as regular catch-up meetings, either physically or virtually, is also vital for building strong customer relationship. While it is important to sustain such external relationships, strike a balance between clients’ requests and staff needs is not to be ignored. Arrange a reasonable schedule and avoid unrealistic deadline helps to maintain a good team spirit and high motivation at work. Transparency and communication within the team are vital as well. At times of special arrangement to fight the pandemic, agile mentality is even more important to adapt to new policy or ad hoc arrangement (e.g. work-from-home arrangement).

The pandemic has led to a new era, in which remote communication has become the new norm and an essential part of the workplace. While most face-to-face events, conferences and meetings have to be moved online, and we may experience challenges in adapting to this new practice, such online means of communication has been proven to be feasible and we have been relying more on these online platforms for work such as publishing our recent research reports.

All in all, you will encounter a lot of problems as a leader, but prioritisation of tasks is one of the keys to successful leadership in my opinion and my motto of lifelong learning has helped me progressed throughout every stage of my career.

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*The views and opinions expressed in this section are those of the authors and do not necessarily reflect the editorial positions of UoM East Asia Centre.

Manchester Global MBA Alumnus: Mr. Barry Tong
- Advisory Partner of Grant Thornton Hong Kong
- President of Hong Kong Chapter of the Association of Certified Fraud Examiners ("ACFE")
- Senior Fellow of the Hong Kong Securities and investment Institute ("HKSI Institute")