Leading the firm was Edwin Lee, a young entrepreneur who took his every chance to drive the company to new rates of accomplishment. In the month of November 2001, subsequent to realizing that there were none company brokerage firms in Hong Kong, Lee set up HKBI and began to offer "matchmaking" services for prospective business sellers and buyers. As the business diversified into too many additional services without proper preparation, the business price that was rising become a cash flow calamity for HKBI in 2005. Lee turned his firm around, earning himself the award of Hong Kong's Innovative Entrepreneur of the Year 2007 and then restructured his business model into a more organized and integrated way. HKBI's business model and attempts in boosting entrepreneurship had additionally received recognition worldwide.
Meanwhile, local competitors began to tap into the underdeveloped sector in Hong Kong, and many of them were former HKBI employees. Lee understood when a blue ocean started to turn red, he needed to continue to reinvent his business to safeguard HKBI's market leader position. He seen HKBI to become a little business property developer later on. How did choose it as his employees striking out independently and becoming his competitors while one the goals of HKBI was to boost entrepreneurship?
PUBLICATION DATE: June 12, 2012 PRODUCT #: HKU974-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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