Organised by the Research Institute for Business of The Hang Seng University of Hong Kong (HSUHK), the kick-off ceremony of the 9th Junzi Corporation Scheme 2019, which was fully supported by about 50 sponsored organizations, including Trade and Industry Department, Privacy Commissioner for Personal Data, Hong Kong (PCPD), Hong Kong Trade Development Council (HKTDC), Hong Kong Productivity Council (HKPC), the Chinese Manufacturers’ Association of Hong Kong, the Hong Kong General Chamber of Commerce and Federation of Hong Kong Industries, etc, was held at the HKTDC SME Centre of the Hong Kong Convention and Exhibition Centre on 3 May 2019 (Friday). The officiating guests of the kick-off ceremony included Dr. Dennis NG Wang Pun, BBS, MH, President of the Chinese Manufacturer’s Association of Hong Kong; Mr. Stephen WONG Kai Yi, Barrister, the Privacy Commissioner of the PCPD and Mr. Mohamed Din BUTT, the Executive Director of the HKPC. The conference also invited Mr. WONG Cho Lam, the entertainer cum entrepreneur, to be the guest who shared about his understanding of “five virtues of Junzi” and the principle of conducting business with integrity.
Professor Simon HO Shun Man, President of HSUHK, said at his speech that the ethical awareness of Hong Kong enterprises has been gradually elevating in recent years. The overall business ethics index of Hong Kong, which is based on the computation of the HSUHK Hong Kong Business Ethics Index in 2018, is fairly favourable and stable. However, the ethical index of enterprises may deviate during the economic downturn. Therefore, it is of vital importance to actively promote the culture with values such as trustworthy, fairness, integrity, propriety, mutual trust, etc, so that enterprises can achieve the five virtues of “benevolence, rightness, propriety, wisdom, and trustworthiness” and continuously enhance their business ethics. In the Chinese tradition, if one can attain the “five virtues” of “benevolence, rightness, propriety, wisdom, and trustworthiness”, he can be named as a “Junzi”. Likewise, as a legal entity, a company can achieve these five virtues and to be called a “Junzi Corporation”. As early as in the era of the Hang Seng School of Commerce (HSSC) and the Hang Seng School of Management (HSMC, the former name of HSUHK), led by some professors who attached importance to business ethics, efforts have been made to promote a culture of corporate integrity and business ethics in curriculum design and student activities. Eight years ago, Dr. Felix TANG Tzu Lung of HSMC pioneered the “Junzi Corporation Scheme” as a research project with the aim to enrich the Western business theories which are dominating by motivation theory, consequentialism and obligation theory, with the virtue theory (the “five virtues” of Chinese tradition). While the kick-off ceremony of the past eight sessions of the “Junzi Corporation Scheme” was held on campus, this is the first time it was held at the Hong Kong Convention and Exhibition Centre. We believe that HSUHK will have more activities to go out of the campus.
Dr. Dennis NG Wang Pun, BBS, MH, President of the Chinese Manufacturer’s Association of Hong Kong, in his speech said that although the “Junzi Corporation Scheme” has entered the 9th session, the kick-off ceremony has given a refreshing look since this is the first time the “Junzi Corporation Scheme” was held after HSUHK had won its official name to become a university. Whether it is “HSUHK” or the predecessor “HSMC”, the school has cultivated many business talents for Hong Kong for many years. It not only teaches students how to “earn money”, but more importantly, indoctrinates business ethics, social responsibility and the importance of sustainability in conducting business operations. He pointed out that even if the enterprise wants to make money, it must adhere to the concept of “Junzi is fond of money but takes the right path”. As long as the enterprise adheres to business ethics or the five virtues of the Junzi concept, it can make sustainable profits. Observing to the five virtues are the foundation of business, and profit is one of the results. If one only cares about making money but forsakes the fundamentals, it will incur costs on investors, employees and the whole society.
Mr. Mohamed Din BUTT, the Executive Director of the HKPC, said “the “five virtues” of Junzi is the essence of the Chinese cultural thoughts. It has nurtured countless local “Junzi entrepreneurs”, which embody “benevolence”, “rightness”, “propriety”, “wisdom” and “trustworthiness” of the Confucian business culture. In the development of technology and in the phase of moving toward digital transformation, the enterprise should meanwhile demonstrate corporate values, such as caring for stakeholders, respect for the law, mutual respect, wisdom, reliability, that is, the “five virtues” of Junzi, in order to establish a good corporate image, drive greater business opportunities, and hence practise sustainability. The “Junzi Corporation Award” is of great significance to the inheritance of the Confucian business culture. It is hoped that all kinds of enterprises will actively participate and make Hong Kong a “capital of Junzi””.
Mr. Stephen WONG Kai Yi, the Privacy Commissioner for the PCPD, believes that in a data-driven economy, more corporations are using big data and artificial intelligence to expand their businesses, and customers’ expectation for personal data protection are ever increasing. Accordingly, in addition to complying with the law and requirement, corporations should be supplemented to “data ethics’, which is a part of corporate data governance. Corporations should incorporate data ethical data governance into corporate governance and daily operations, and handle personal data with “respect”, “reciprocity” and “fair value” as well as incorporate appropriate safeguard measures. These measures will not only enhance the confidence of customers, but also show the corporations’ commitment to protecting privacy and exemplifying the principle of accountability, and hence enhancing goodwill and competitive advantage, which are also important components of the “Junzi Corporations”.
Dr. Felix TANG Tzu Lung, the Director of the Research Institute for Business, Associate Professor of the Department of Marketing cum chairman of Junzi Corporation Program Executive Committee shared that “Junzi Corporation Scheme” is the largest inter-disciplinary academic activity of HSUHK, and has contributed significantly to the business ethics education in Hong Kong and its meticulousness is widely recognized by the academics. In the past eight years, the Junzi Corporation Survey has tracked seven industries, selected 210 representative companies, trained and dispatched 460 investigators, with 30 professors and 11 different participating units co-operating to form a questionnaire in the 18 Districts of Hong Kong. Nearly 20,000 Hong Kong citizens’ opinions on business ethics and business practices were collected, and the criteria of the five virtues of Junzi were analysed in depth, as well as the “Junzi Corporation” Industry Score and the “HSUHK Hong Kong Business Ethics Index” were published annually.
On the premise of attaching importance to academic and scientific, the “Junzi Corporation Scheme” of this year will greatly enhance the contribution and influence of application. Dr. Tang emphasized that the concept of Junzi is not to pursue a perfect business ethics. A “Junzi Corporation” is a company that values business ethics. A company will not be perfect, but it has a “Junzi” spirit and is constantly moving toward to be a “Junzi”. Asked if the “Junzi Corporation” should be low-key, Dr. Tang believes that the good things that the “Junzi Corporations” have done for the society deserved to be and should be recognized by the public.
Dr. Kelvin HO Kwok Wai, Lecturer of the Department of Marketing of HUSHK, said that the “Junzi Corporation Award” has officially begun to accept registration. As the only corporate selection activity to promote business ethics in Hong Kong, the “Junzi Corporation Scheme” is one of the annual events of HSUHK. The “Junzi Corporation Award” designs to recognize the contribution of local “Junzi corporations” and “Junzi entrepreneurs” to Hong Kong’s social ethics and to actively promote Confucian business culture, such as “Junzi Corporation”. The criteria for judging the “Junzi Corporation Award” are the “five virtues’ of the Confucian concept, namely “benevolence”, “rightness”, “propriety”, “wisdom” and “trustworthiness”. The judging panel comprises Mr. Mohamed Din BUTT, the Executive Director of the HKPC, and the representatives of five universities in Hong Kong. The awards are presented by HSUHK and the recognition is unquestionable.
In addition, the “Junzi Corporation Scheme” of this year will initiate the “non-profit organization elections” for non-profit organizations. The election will be held at the website channel, HK01.com, in October 2019 by way of a referendum. The program is inviting non-profit organizations to participate and soliciting sponsorship from the corporations, and cordially inviting all enterprises and non-profit organizations to actively participate and register for the election of “Junzi Corporation Awards” of 2019.
Mr. WONG Cho Lam, the renowned entertainer, agreed with the “five virtues” of “benevolence, rightness, propriety, wisdom and trustworthiness”, that helped to improve the relationship between his investment company and his artists, when sharing at the kick-off ceremony. The sharing mainly focuses on his personal understanding and practice of being a “Junzi” and the “five virtues” of Junzi. In short, Cho Lam thinks that being a “Junzi” starts from the onset of “benevolence”, who does one’s best to “rightness” and goes with a “propriety” attitude, learning from the past or other people’s experience and learning to be wise in order to win a wide and sustainable “trustworthiness”.
Professor Simon HO Shun Man, President of HSUHK, delivered the opening speech for the Junzi Corporation Scheme.
Dr. Dennis NG Wang Pun, BBS, MH, President of the Chinese Manufacturer’s Association of Hong Kong gave a speech.
Professor HO Shum Man, President of HSUHK, and Dr. Felix TANG Tzu Lung, Director of the Research Institute for Business, issued a certificate of appreciation to the sharing guest Mr. WONG Cho Lam.
Dr. Kelvin HO Kwok Wai, a Lecturer of Department of Marketing of HSUHK, explained the details about the “Junzi Corporation Award”.
Mr. WONG Cho Lam, the renowned entertainer cum entrepreneur, served as a sharing guest.
Professor HO Shum Man, President of HSUHK, and Dr. Felix TANG Tzu Lung, Director of the Research Institute for Business, issued a certificate of appreciation to the sharing guest Mr WONG Cho Lam.
The 9th Junzi Corporation Scheme 2019 was officially launched
(left) Dr. FONG Wing Ho, Vice-President of HSUHK; Dr. Felix TANG Tzu Lung, Director of the Research Institute for Business and Associate Professor of the Department of Marketing of HSUHK; Mr. Mohamed Din BUTT, the Executive Director of the HKPC; Dr. Dennis NG Wang Pun, BBS, MH, President of the Chinese Manufacturer’s Association of Hong Kong; Professor Simon HO Shun Man, President of HSUHK; Mr. Stephen Wong Kai Yi, Barrister, the Privacy Commissioner of the PCPD; Professor Bradley R. Barnes, Dean of School of Business; and Professor HUI Yer Van, Vice-President of HSUHK.
All guests participated in and toasted for the Junzi Corporation kick-off ceremony.