KPMG China partner shares her views on how businesses can adapt on their road to recovery.
Alice Yip, partner, head of consumer & industrial markets, Hong Kong at KPMG China, has been providing professional services to clients in the consumer, retail and industrial sectors for more than 25 years.
She is experienced in handling initial public offering projects and has assisted a number of enterprises in raising funds from the United States and Hong Kong capital markets and has been actively involved in a number of cross-border projects for her clients.
“The current environment will test most businesses’ ability and leaders’ agility to operate and manage in a crisis,” said Alice in an interview with Hong Kong Business. She also shared her insights on what business leaders can learn from the crisis, effective responses of companies, and their roads to recovery.
Which particular markets or sectors are your main focus? Can you share with us your work experience or any backstory that has contributed to your professional career?
I am the Head of Consumer & Industrial Markets, Hong Kong at KPMG China and have been providing professional services to clients in the consumer, retail and industrial sectors for more than 25 years. Experienced in handling initial public offering projects, I have assisted a number of enterprises in raising funds from the United States and Hong Kong capital markets and have been actively involved in a number of cross-border projects for my clients.
I am a frequent public speaker on changing industry trends and the new reality driven by digital transformation, data analytics and consumer behaviour involving various media channels.
I was the Chairman of ACCA Hong Kong for the term 2016/2017 and was elected as a member of ACCA Global Council since 30 November 2017. I was appointed by the Chief Executive on 28 December 2018 to be a member of the Antiquities Advisory Board
What can leaders learn from the crisis? For those whose companies and industries have been badly hit, what do owners need to consider on the road to recovery?
An effective response by a company requires strong leadership which will safeguard the business and discover opportunities amid a crisis. Businesses have to rapidly establish their immediate and longer-term risks, and develop a rapid response covering the following areas:
On the road to recovery, business owners have to adapt and improvise:
How can the management support their employees and stakeholders during these tough times?
Of paramount importance is the safety and well-being of employees and their families. Management should establish clear protocols for employee communications, messaging, and working expectations, and align these with relevant prevailing local emergency laws.
Management should also establish clear, consistent communications channels with employees, suppliers, customers, and their stakeholders. In addition, management should set up a feedback loop in which management can garner insights and viewpoints from these stakeholders, and feed these into business plans.
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