Policy Memo Assignment: Public Management for Technology Innovation in Hong Kong

Question

Task: Policy Memo Assignment Task:
Hong Kong – a laggard in innovation and technology development? Suppose that you are a consultant working for the Hong Kong Innovation and Technology Bureau. You are tasked to write a policy memo to advice on further actions to improve Innovation rates and technology development in Hong Kong.

Read background material for this case and do some additional research on this topic. Try to think through the themes :

-Harnessing STI for the Pursuit of Economic Growth
-Innovation as a Management Process
-Learning from Markets
-Learning Through Alliances
-Changing modes of knowledge production inside the public scientific system

This might help you to think of some recommendations and approaches that have been overlooked by Hong Kong authorities so far. Your policy memo will be evaluated based on the quality of writing and analysis. In specific, your memo will be graded in the following four aspects:

1. Clarity in writing
2. Persuasiveness in argumentation
3. Analytical rigor (use of evidence and comprehensiveness)
4. Demonstration of understanding of relevant materials (concepts, theories, and tools)

Answer

Policy Memorandum
To- Hong Kong Innovation and Technology Bureau
From-Innovation and Technological Consultant
Date-23.10.2021
Subject- Advice on further actions to improve innovation rates and technology development in Hong Kong

Executive summary
The overall policy memorandum prepare herein policy memo assignment will focus on improving the rates of innovation and technological development in Hong Kong. The policy will reflect on the background and context wherein it has been found that there is plenty of space for the improvement in innovation and technological development in Hong Kong as it ranks 11 in comparison to other nations.

Considering the identified issue, a brief recommendation has been discussed in which the nation can improve its economy and increase GDP through development. In addition to this, alternatives have been illustrated which mostly focuses on the advantages of the given recommendations rather than its disadvantages. Eventually, limitations and barriers that the nation is facing against the development wherein it shows a lack of interest in innovation and technology of young universities students and conservative environment and culture that compels them to choose their careers in finance and business.

Background and context
Laggard technologies are those that are not utilized to any considerable level for the development of new software systems currently, either for producing revenue through products or for internal use systems. Hence, the systems that are based on laggard technologies are yet in production and these systems should be keenly maintained and enhanced. In recent years, worldwide innovation and technology activities have been increasing, and the high-tech industry develops promptly(Tsui et al., 2020). The government of Hong Kong, the common public, and businesses are responsive to the comparatively slow growth of technology.

Considering the global ranking in innovation and technology, Honk Kong ranks at 11 and seems like there is plenty of space to improve(Division of public policy, 2018). Despite the fact that the activities of innovation and technology in Honk Kong endured growing, the global wide-ranging ranking of Honk Kong stays submissive. Thus, this policy look forward to make some actions to improve innovation rates and technology development in Hong Kong.

Recommendations
Based on the issues that have been identified above and concerning the management process in innovation, harnessing STI for the pursuit of Economic growth, learning through markets and alliances, a brief recommendation has been made. With the economy of China approaching a New Era and innovation and technology development in the Mainland being encouraged by the national strategies of revitalizing China through education and science, Hong Kong can make complete utilization of China's constructive or approving policies, advantages of regional cooperation prospects and international financial centers, to drive its innovation and technological development (Jie, 2017) t. Here, it can be said that one of the key opportunities or the strategy that Hong Kong Innovation and Development Bureau can follow is the series of fresh ideas and initiatives by the government that is encouraging to promote the development of innovation and technology. On the other hand, the Bureau can use the IT strategy by focusing more on electronic information management, electronic procurement, services of government human resources management; government data centre service arrangements as well as electronic communications infrastructure.

Alternatives
The recommendations that have been given above will help to make innovation and technology a priority which will eventually help to support the development from all fronts that include the resources of R&D, offering more investment funding, support from technology talent as well as existing legislation and regulations. Here, it can be said that when the government of Hong Kong will boost R&D resources, and set a goal of doubling the ratio of GDP, it will be helpful for the technological and innovation development to improve its infrastructure for a better future in technology(Legco.gov.hk, 2021). However, an innovative environment, as well as effective government promotion and guidance, will be a key factor to improve the innovation and technological development in Hong Kong. In addition to this, it can be said that these actions will deliver real support for the innovation and development rate in Hong Kong which will eventually help the government to strengthen its economy and increase productivity and brings citizens better and new goods and services for standard living.

Limitations and barriers
There is no doubt that the Hong Kong Innovation and Technology Bureau gets full support from the government and addresses several policies for the development. But there seems limitations and barriers for development from the end of young generations wherein University students are yet more likely to choose majors in finance and business, as they believe that innovations are a game for them that generally shows the lack of spirit of adventure. In the recent past report revealed by the forum, Hong Kong ranked third in worldwide competitiveness after the United States and Singapore.

Yet, in terms of innovation, the centre of finance performed comparatively poor with the 26th ranking(Juecheng& Boning, 2019). The people of Hong Kong are excellent, the city has also been friendly and shows more necessity to innovation in recent years, but the conservative atmosphere seems to be the major barrier and limitation for the development of innovation and technology.

Conclusion
In conclusion, it can be said that there are huge opportunities for innovation and technological development in Hong Kong as the government have full support to promote the development in the recent past. Hence, in order to improve the development in innovation and development, brief recommendations have been given with opportunities to focus more on national strategies. But due to the conservative environment and culture, the young generations are paying more attention and interest in technology as they show more interest in finance and business and it is said to be the key barriers and limitations for development.

References
Division of public policy.(2018). Hong Kong – a laggard in innovation and technology development? https://ppol.ust.hk/public_uploads/2020016A_Laggard_of_I_T_Develo.pdf

Jie, S. (2017).Seizing Opportunities, Hong Kong’s Innovation and Technology Has a Bright Future. https://www.bochk.com/dam/investment/bocecon/SY2017032(en).pdf

Juecheng, Z., & Boning, H. (2019).Hong Kong needs to further strengthen innovation - Global Times.Policy memo assignment Www.globaltimes.cn. https://www.globaltimes.cn/content/1168854.shtml

Legco.gov.hk. (2021).Innovation and technology industry in Hong Kong. https://www.legco.gov.hk/research-publications/english/1617fsc21-innovation-and-technology-industry-in-hong-kong-20170712-e.pdf

Tsui, Prof. L., Lun, R., & Cheung, E. (2020).The Ecosystem of Innovation and Technology in Hong Kong. https://www.ourhkfoundation.org.hk/sites/default/files/media/pdf/ScTech_full_report_eng.pdf