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What is Family Business Legacy

Among the many forms of business operation in the Hong Kong commercial and industrial world, family business still maintains a significant position, especially among the small and medi-um companies. Invariably it is the wish of the first generation which starts the family business to see the business grow and develop with flying colours in future. In reality, some business fail to maintain satisfactory performance when the management role is passed to the second generation at a later stage, while some business continue to produce good result and further expand when the second generation takes over the management later.

Making a family business a successful family legacy is certainly not an easy task. While each fam-ily business, be it a printing company, a construction company or a restaurant, has its own unique issues, there must be some factors that contribute to the successful transfer and succession of business through the generations. Those factors and experience, when shared with others, will be of great values to the business world in general and eventually the community as a whole.

Best Family Business Legacy Selection 2014 is the first project of its kind organised by Junior Chamber International Tsuen Wan (JCI Tsuen Wan) with the following objectives:

. to give recognition of outstanding achievements made by family business with management succession through generations. . to encourage the use of practical and effective planning or strategy to ensure successful succes-sion of business by the next generation.. to encourage family business to develop future leaders for the benefit of not only the business itself, but also the related business field in general and the community as a whole.

Overview

Best Family Business Legacy Selection 2014 is a Selection of Family Business with outstanding achievements in the business legacy. The project will be carried out according to the following timelines:

Nomination Opening Announcement and Family Business Legacy Seminar Day: 10 August 2014

Nomination Period: 10 August - 26 September 2014

Judging Session: 11 October 2014

Result Announcement and Awards Presentation Ceremony: 15 November 2014

Nomination Procedures and Conditions1. Each nomination must be submitted with:A. The nomination form in which all the required details must be properly completed, and duly signed by both the proposer and the nominee;B. Copies of relevant documents to support the statement made in the nomination form.C. A Soft Copy of Presentation/PowerPoint which may be used in the Judging session.

Selection Criteria

. Performance of the business over a number of years

. Strategy to ensure successful succession of business by the next generation

. Skills in the transfer of wealth and knowledge developed in the business

. Development of family business leader in the next generation

Judging Session

The Judging session will be held on 11 October 2014, during which the shortlisted nominees will be interviewed by the Panel of Judges.

Prior to the Judging session, information given and claims made in a Nomination form will be examined and screened with regard to their correctness and authenticity. The Panel of Judges will be informed of the examination result and shortlisted nominees will be notified and required to attend the interview that allows for a more thorough assessment of the qualifications and perfor-mance of a family business under nomination and their views on family legacy.

All information pertinent to the nomination and the information of awardees will not be released to the public and media until a final decision on the selection has been reached.

National President’s Message

I am delighted that JCI Tsuen Wan has successfully launched its flagship project - Best Family Business Legacy 2014.The selection aims to give recognition to enterprises which have achieved outstanding achievements in its field, to encourage business continuity planning for small and medium enterprises, and to nurture talent for long-term strategic development, thus promoting corporate social responsibility in corporates & SMEs.

Succession planning is a process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. Through the succession planning process, the enterprise recruit superior employees, develop their knowledge, skills, and abilities, and prepare them for advancement or promotion into ever more challenging roles for better long-term development in future. This can help enterprises, employees and the society to achieve win-win situation.I hereby wish JCI Tsuen Wan all the success in its first flagship project.

Unite to Impact. Let’s Shine!

Senator Johnny KwanNational President, JCI Hong Kong

President’s Message

The preparation for the founding of JCI Tsuen Wan was started in August 2013, after several months, an introduction meeting of the Tsuen JCI prospective members was organized on 3rd September. Under our hard work, we successfully recruited the first batch of our founding members and the induction ceremony was held in December.

As JCI Tsuen Wan was newly founded, in order to allow our members to participate in the JCI system as soon as possible, we have arranged our members to attend different seminars organized by JCI Hong Kong and other JCI chapters. In addition, seminars introducing the JCI Protocol, Project Management Project Management and Parliamentary Procedures, etc. have also been held specially for our members, hoping to further familiarize our new members with JCI.

After a whole year of great efforts, JCI Tsuen Wan has gradually becoming matured. Despite our new members were relatively less experienced in the JCI operation in the beginning, after diversified training, our members have slowly adapted to the life of JCI.

Charles CheungPresident, JCI Tsuen Wan

Project Chairman’s message

This is the first flagship project of JCI Tsuen Wan.We are honoured to host this meaningful award which allows us to learn and to explore a lot in different field of businesses in Hong Kong.Our objective is to encourage and to share the successful stories behind different kinds of family businesses.

Rome was not built in a day. Time is always needed to create something great. And it’s true. It takes time — sometimes years — sometimes generations. Making a family business a successful family legacy is certainly not an easy task. With this opportunity, we believe by sharing factors of succession yields great values to the business world in general and eventually the community as a whole. Given this is our the first year of the award, there is area of improvement, we believe we can flourish this award selection in the coming years.In this project, my team and I started everything from scratch. As the chairman, I’m longing to see this award project to pass on year by year, just like how every business creator hunger to see his/her business get to pass on for generations.

Bosco Chong

Chairman of BSBL 2014 Organization Committee, JCI Tsuen Wan

The Judging Panel

The Panel of Judges consists of:

Chief Judge: Dr. David YK Wong, BBS, JP

Judges : Dr Samuel Yung, SBS, MH, JP Dr. Roy CP Chung, BBS, JP Mr. Michael Ngai

Selection Consultant: Legacy Academy Dr. Amen Lee

ChairmanBosco Chong

Promotion and NominationNicole Chung

Sub-committeeBenny Wong

Secretary, Treasurer and Registration

Daisy Mok

Sub-committeePatricia Lee

ProgramFlora Cheung

Sub-committeeNoelle Leung

LogisticBen Mak

Sub-committeeGiles Chan

AdvisorNIPP Paul Wu

BFBL Selection Organizing Committee

PromotionPromotionAwardee’s Information

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Supporting Organization

The Chinese Manufacturers’ Association of Hong Kong Youth CommitteeThe Chinese General Chamber of Commerce Young Executives’ CommitteeThe Hong Kong Chinese Importers’ and Exporters’ Association Youth DivisionFederation of Hong Kong Industries Young Executive CouncilNam Pak Hong Association Youth CommitteeHong Kong Youth Entrepreneur AssoicationThe Y. Elites Association Limited

Selection Consultant:

Legacy Academy