Small and medium enterprises have been discovered to have a shorter lifespan during the economic depression. High corporate capital, inadequate financial resources, and limited technical and managerial competencies contribute to the challenges (Beck-Kunt et al., 2005). Latham (2009) and Robbins & Pearce II (1993), claim that small and medium-sized firms are most susceptible to economic depression. As a result, the social and economic pandemics associated with people’s wellbeing, for instance, the COVID-19 pandemic, are likely to cause a detrimental impact on enterprises that rely on strong relationships with people, whether they are suppliers or consumers.
Numerous non-governmental (NGOs) and governmental organizations have offered SMEs different forms of support to prevent the sector from subsiding due to the COVID-19 epidemic. According to Ahmad et al. (2019), the governments formulated different approaches to combating the impact of the pandemic. According to Song et al. (2020), SMEs received aid from financial institutions and international and non-governmental organizations during the pandemic. In addition, the entrepreneurs have used different tactics to deal with the pandemic’s aftermath. According to Thorgren and Williams (2020), experts projected that SME’s practices and views would aim to reduce expenditure, disaster management at the start of the pandemic, and the adoption of modern technology.
Studies show that COVID-19 crisis business performance and response processes examined each action separately to see how it affected firms’ performance. For instance, it was found that modern technology helps SMEs tackle the crisis’ effects (Guo et al. 2020). The results emphasize the benefits of IT in facilitating SMEs in mitigating the various problems resulting from the COVID-19 pandemic. Conventionally, strategic agility lowers the detrimental outcome of the pandemic on SMEs performance. As a result, these findings are an administrative technique for small business’ crisis response methods.
Few studies have been conducted on businesses’ performance techniques after the COVID-19 outbreak. According to Omar et al. (2020), when the enterprises were confronted with the COVID-19 pandemic, the SMEs depended on marketing and financial approaches for survival. These findings are noteworthy because they aimed at the SME’s long-term performance rather than their short-term existence. Therefore, further studies should be conducted on the effects of strategic measures on small and medium enterprises’ long-term performance and competence.
Furthermore, few studies have been conducted on the effects of foreign aid to SMEs following the COVID-19 crisis on their sustainability. As a result, the purpose of this study is to investigate the various innovative strategies used by SMEs to deal with the economic effects of COVID-19. The current study analyzed the impact of SMEs ‘ innovative techniques on their existence and performance. The study looked into the function of assistance in intervening in the relationship between SMEs’ innovative tactics and their commercial survival and performance. The current research on SMEs’ organizational and marketing innovation techniques in response to the COVID-19 pandemic aftermath in Saudi Arabia is essentially founded on the premise that, during disasters, innovative processes may aid in improving the performance of an enterprise, thus ensuring its survival.
This research contributes to the expanding body of research on SMEs’ strategies and foreign aid during calamities. It provides novel clues for SMEs and regulators on the function of international funding in facilitating innovation strategies for a firm’s survival.
SMEs’ performance and innovation practices
All enterprises must have innovative strategies to compete in a world of rivalry, technical advancement, and cyclical crises. Innovation is adopting modern technology or a managerial approach to ensure entrepreneurial success. (Tornatzky et al., 1990). Therefore, “innovative practices” is the execution of modern approaches to challenges facing SMEs, such as new product, service, or process concepts; current marketing strategies; or modern administrative procedures for the betterment of the performance of an enterprise. Organizational innovation initiatives are driven by a desire for remuneration in the form of enhanced performance. As a result, innovation is the implementation of new strategies in a firm’s procedures to improve performance.
On the other hand, success is the achievement of the institution’s sales, market share, strategic goals, profitability, and competition (Hult et al., 2004). According to Yildz et al. (2014), performance is the ability of an organization to effectively execute its tasks that leads to business success. Achieving a high level of performance naturally signals commercial success. Therefore, measuring a company’s performance allows it to expand its aspects of operations while also allowing it to take corrective action to address the flaws.
However, there is a relationship between performance and innovation for small and medium-sized businesses. Innovation capabilities have a positive impact on SMEs’ success. The critical cause of the progress in SME’s financial metrics is developing new inventions (Zulu-Chisanga et al., 2016). Similarly, the specific performance of a business is a result of the competent implementation of strategies. Managerial strategies influence the SME’s income more than technological advancements (Lin and Chen 2007). As a result, SMEs’ innovative approaches can help organizations perform better in all environments, including the COVID-19 pandemic. As a result, the following options have been proposed:
H1: The practices of SME in terms of innovation have a major positive on its impact its performance.
SME survival and innovation practices
The term “enterprise survival” was used to describe how long it takes a business to complete its operations from its inception to termination (Bercovitz & Mitchell, 2007). Besides the managers, the enterprise’s long-term viability benefits numerous people in the community. Among them are employees, customers, and suppliers. According to Danes et al. (2008) and Kalleberg & Leicht (1986), survival is crucial for business performance. If a company adapts to its environment, it will survive. It is evident that SMEs have a shorter lifespan, are profitable, and are more influenced by external environmental influences than huge corporations. According to Miner (1997), some analysts believe that a business’s survival is the primary determinant of its success. In the case of a pandemic, SMEs’ survival is jeopardized. Problems impede SMEs’ performance and risk their projects since their adverse effects spread to the firm’s external environment (Dhochak & Sharma, 2015). For instance, limited funding options during a crisis due to lack of proper information, economic inefficiencies, and poor capital throughout the market affect the businesses.
Several studies show a correlation between corporate innovation and long-term survival. According to Ortiz-Villajos (2014), the capacity to innovate determines a company’s long-term survival. Moreover, innovation is the driving force for an enterprise’s sustainability and performance; it allows for expansion and growth and continues prospects (Gaynor, 2002). The use of innovations to mitigate the challenges that SMEs encounter can contribute to their prosperity and survival. An organization’s longevity is inextricably related to its innovativeness. Various research has evaluated this correlation by pinpointing key characteristics connected to corporate longevity and innovation. For example, a competitive advantage is a crucial pillar of a firm’s survival. Companies can’t survive and thrive unless they’re creative (Schumpeter, 1942). As a result, various innovative measures to combat the adverse effects of SMEs can lead to positive aftermath. Hence, the second hypothesis of the study is as follows:
H2: The practices of a SME in terms of innovation have a significant positive impact on its performance.
SMEs and external Assistance
External assistance is the financial aid that a business receives from a third party (Global, I, 2018). SME’s commonly seek outside help because it provides the experience and expertise needed to improve their competitive position and strategic prospects. On the other hand, SMEs can obtain financial assistance from advocates, agencies, institutions, and the government to optimize their farms’ capabilities, increase their competitiveness, support business growth and expansion, and improve performance. External aid is either indirect or direct. Direct external assistance entails financial assistance such as the acquisition of assets, completion of development plans, or purchase of technology to counter financial shortages. According to Nishimura & Okamuro (2011) and Freitas & Von Tunzelmann (2008), direct external aid is usually offered in compliance with government regulations or the agreements of a financial intermediary. This aid helps to eliminate ignorance and increase information availability. Indirect external support is a form of ideas, advice, and consulting given by specialists and advisory officers. The research shows that SMEs obtain little benefit from it due to inadequate awareness and an inability of entrepreneurs to choose suitable assistance.
SMEs depend on external assistance for the development and implementation of ideas provided. Woodman et al. (1993) stated that the foundation for innovations is obtained from the company’s external environment and business information. Besides, enterprise breakthroughs come from the combination of external and internal knowledge. According to Amabile (1996) and Scott & Bruce (1994), external assistance can also provide personnel and financial resources to an organization to aid internal innovation.
Several research studies have been conducted to determine the link between external assistance and business achievement. The utilization of external support increases the financial index of small businesses (Kent, 1994). By Larsson et al. (2003). Thus, external service has been defined as a type of advice obtained by SMEs from managerial consultancies and has a productive impact on company development. External consultants increase the viability, performance, and expansion of SMEs. Moreover, utilizing external assistance improves a company’s competitive advantage. Dollinger (1985) emphasized the significant impact of the macro environment on the performance of SME’s. According to Bylund and McCaffrey (2017) and Matlar et al. (2005), there is a positive association between a firm’s performance and the use of outside assistance.
However, researchers stated the link between innovative practices and business success warranted the use of a supporting variable as a moderator factor (Covin & Slevin, 1989; Jones & de Zubielqui, 2017; Li & Atuahene-Gima, 2001). This moderator would then originate from the company’s external environment. Therefore, there is a positive correlation between a business’s achievement and its survival chances. Additionally, documented research illustrates that an organization’s long-term viability depends on sustained excellence. Therefore, macro environmental conditions and disasters, such as the COVID-19 epidemic, directly affect a firm’s survival and performance. External aid obtained by SMEs to mitigate the COVID-19 outbreak’s effects, cements the correlation between enterprise performance and innovation processes. As a result, the following recommendations are made:
H3: When a SME receives more external help, the favorable relationship between its innovation activities and performance may be stronger.
H4: When a SME receives more external help, the beneficial relationship between its innovative activities and survival may be stronger.
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Snap Judgement In Active Navy Duty Free Sample
Being in the Navy is a military career that gives one an opportunity of discovering that experience is by far the most intricate and most complex teacher. It is the only exam that comes even before the lessons are taught. This is where you have to take care of yourself, your family, education, your health, and all the while ensuring your career comes first. “Don’t postpone important and special events.” (Gladwel, 2006). Such events include investing, doctor’s appointments, planning for your education, attending family events, and planning your career as only you will be able to do all these for yourself.
This is mainly learned the hard way. You end up wishing that you would have treated them as a priority and planned well for them. Early in the career, you are assigned a mentor who will advise you accordingly, all the lessons necessary to survive and thrive in the Navy. “It is of essence that all the vital aspects of one’s life are well aligned and put in place.” (Gladwel, 2006). Otherwise, it all catches up with you, mounting into one big problem that is not easy to deal with or sort out without inconveniencing the other.
While in the Navy, there is a whole lot to accomplish, but time is not usually a laxity. The time available to achieve all is hardly there, and most people are tempted to put all in one basket, which usually ends up in disaster. “When you set out your goals and objectives depending on priority, it usually gets easier to manage and achieve all of the goals set.” (Gladwel, 2006). This way, one can focus on a more significant impact comparatively smoothly. One should be careful not to give much time to activities that don’t matter so much.
Once you have accomplished all that is important and have a little extra time left, you can embark on the activities that are not much of a priority and address them accordingly. According to Gladwel, one should have a very positive mindset while in the Navy. “Optimism is an asset to make it through the Navy successfully. It is a virtue that can multiply huge accomplishments while in active service. A negative attitude pushes most people away, while optimism, on the other hand, draws people towards your intentions.” (Gladwel, 2006). It doesn’t matter what is going on; it is easy to disarm conflict unknowingly when you put on a happy face.
While in the Navy, reading is one way of getting through swiftly while expanding and increasing your knowledge. “Blogs, journals, magazines, and books are a perfect source of information and knowledge. One should purpose to create time and schedule reading time at least a few minutes every day to grow and learn through the ideologies of other people.” (Gladwel, 2006). If the work schedule does not allow for such a provision, one should consider listening to audiobooks instead.
The Navy also teaches people to learn the art of listening. This should not at any time be confused with hearing, which could be passive, and not active listening, which combines both learning and understanding. This is a vital virtue in the Navy because all your colleagues, subordinates, peers, instructors, supervisors, family, and friends always want and expect you to listen and not just hear them. A good audience must constantly repeat what he just heard to show the person addressing them that they were indeed listening and not just hearing them.
The Navy is also an excellent place to learn and internalize that nothing is ever permanent and that all situations can be changed by thinking as a first step. One has to think of their current situation and purpose to change, think about your objectives, and what precisely you would like to accomplish. Despite the common perception that members are subjects of instruction in the military, they are still allowed to think for themselves. In the military, members are not expected to act on what they are thinking individually; they are still allowed to think, analyze and make informed decisions.
We all know that adversity is part and parcel of everyday life. Persistence here is very critical to succeed in the Navy. Judgment and skills are developed going by experience. This includes obstacles and challenges. One should purpose and intentionally commit to their actions and anything they promise to do. When you fail to accomplish what you say you would, you expose yourself, your credibility to being questioned, and resistance grows amongst your peers. Overall, results matter, so one should be careful not to confuse accomplishment with activity. When positive results are not achieved, then intent and effort become irrelevant.
In the Navy, one usually has at least one mentor to look up to. A trusted advisor that one can talk to, seek and share ideas. “It is generally advisable to have mentors both in and outside the military. Depending on your position, you can also offer your mentorship services to other juniors who need your insights and guidance.” (Gladwel, 2006). The decisions one has to make while in the military tend to impact their lives after service. It dictates how one’s occupation, lifestyle, location, and income take.
Gladwel, M. (2006). The Power of Thinking Without Thinkinghttp://dspace.vnbrims.org:13000/xmlui/bitstream/handle/123456789/4124/BlinkThePowerofThinkingWithoutThinking.pdf?sequence=1
Social Mobility In Hong Kong Essay Sample For College
The concept of social mobility is useful in explaining why individuals in society move to a different social ladder. Various factors such as earnings, education, and occupation determine one’s level of social class. It is imperative that a government plays a vital role in empowering its people to move a social ladder. That is by creating jobs for the youths and increasing the earnings of individuals. The growth engines are essential in increasing earning and enhancing the quality of life. Over the years, different cities have continued to identify and create opportunities to enable their citizens to move the social ladder. One of such cities is Hong Kong which has been striving to create social harmony where all residents succeed by getting better income, access to quality education, and getting better employment opportunities. Regarding that, social mobility movement occurs when one moves a social ladder by changing their social status. A social ladder refers to the social status a person holds, and that is different from what the parents held. The research will provide a detailed discussion of social mobility its relationship with earning, education and occupation. Also, the research will identify strategies Hong Kong Government will apply in creating job opportunities for its youth.
According to Birbalsing (2021), social mobility occurs when one acquires different social status. The shift can be to the low, higher, intra-generational, or inter-generational. Notably, the change can be good or bad. The concept provides that no society is completely closed and that there are no two or more societies are the same. The speed of social mobility depends on a country or state’s ability to support its people to achieve their goals. As such, social mobility can happen when individuals from one social ladder to another. While it is more or less beneficial in motivating persons to pursue different activities that enhance their standards of living, their governments play a vital role in creating opportunities that help them move up the social ladder. As highlighted by Rolfe (2017), social mobility takes different forms, and individuals can experience it at different stages of their life. That implies the factors for social mobility are independent and can overlap.
Further, social mobility can be horizontal, vertical, or upward. With horizontal social mobility, a person changes their occupation and maintains the same social standing. For example, a doctor can shift from practicing medicine and move into teaching a medical school, and in that case, their prestigious social standing remains almost the same. As noted by Rolfe (2017), changing an occupation may not necessarily mean climbing a social ladder. For instance, one can change religion, political affiliation, or territory without creating any social impact. As such, one may not achieve any horizontal social mobility. On one end, vertical social mobility happens when a person goes for a different occupation, increases earnings, or subscribes to a religion that alters their societal position. A person is likely to move from one social stratum to another and that can be either ascending or descending. Ascending occurs when an individual moves to a higher social rank (Birbalsing, 2021). For example, if one left a job and started doing business that earns more income, they will have moved from a lower social group to a higher one. Finally, with upward social mobility, a person attains a higher social status. Despite the change, one can also experience some challenges. For instance, if one becomes a political leader, they will lose their privacy and their interaction with their families (Gugushvili et al., 2021). Hopefully, their way of thinking and behaving will change to adapt to the new status. Considering an example of a managerial role, one should work on their communication skills to effectively engage with the employees and other stakeholders. Other social mobility changes that can occur to an individual are downward mobility, inter-generational, and intra-generational.
With downward mobility, a person moves from a higher position to a lower position. Considering the case of job loss, one will lose income. Consequently, one cannot sustain their standard of living. It can also be a stressful experience trying to adapt to new declined social status. In the case of inter-generational mobility, one shift from one generation to another. What happens when it grows from a child to an adult or old age (Birbalsing, 2021). The change requires one to think and act differently. Lastly, with intra-generational change, one position to another can happen once in one’s lifetime. For instance, one can start working as a clerk before they become managers and directors. In a family setting, one can achieve higher social status than their siblings.
Application of the concept of social mobility
When an individual’s level of income shits, they move from one economic status to another. Depending on the level of income, one can create or pursue growth opportunities that benefit them. Looking at the case of Hong Kong, its economy has continued to grow by over 6.6% since 1978. The trend is attributed to the business opportunities created by the Mainland Door Policy of 1978 (LEGCO, 2019). In line with that, Hong Kong has managed to relocate its manufacturing operations to leverage itself as a service economy. The ample job opportunities the transformation created positively impact the income of the residents. With the high demand for the workforce, the citizens get better pay. With a monthly income of over 14%, the residents have significant disposable income to pay for their luxury needs. Arguably, the positive change in income has seen more people move up the social ladder (Gugushvili et al., 2021). The city of Hong Kong is grouped among the top globally in terms of income and grouped into the five quintiles.
The increased earnings have improved access to decent houses. The residents can afford to build their own houses. As a social mobility indicator, increased income implies individuals can own private houses as opposed to renting flats. While that is a plus for a well-performing economy, the change has impacted the real estate developers. Whit the increase of about 30% in household income, the trend will influence the decisions of the residents in constructing their houses (LEGCO, 2019). The change will necessitate the construction of houses that match the standards of the market. In accordance, income is an important factor in social mobility. It influences not only the disposable income but also the needs of the consumers. Basically, the level of earnings determines the kind of products and services one consumes (Rolfe, 2017). Since it is significant to afford some lifestyle, the residents of any given city consider their disposable income and the buying decisions they make. In so doing, they shift their social ladder by accessing benefits they never had.
Level of education as social mobility factor
When an individual gets more knowledge, they understand their needs and the decisions they make when purchasing a product or service. For example, with quality education systems, students can get information about the available job opportunities. For instance, they can evaluate the quality of the content they get by looking at the rankings of their universities. Most importantly, the specific features of a particular education system provide a ranking of an individual in society (LEGCO, 2019). For example, an individual pursuing a degree from an elite university will regard themselves as superior in community. In so doing, they tend to develop behaviors congruent with the members of the group.
In Hong Kong, the level of education remains a critical factor in influencing social mobility. As individuals attain a particular level of education, they acquire certain societal status. Currently, over 27.3% of the population in Hong Kong has post-secondary education. The enrolment doubled from 11.3% in 1991. The trend is attributed to the rapid expansion of education opportunities that benefit youths aged between 15 and 24 years. In 2011, the number of students aged between 15 and 24 years increased by 39.3%. The numbers are expected to reach 60% in ten years’ time (LEGCO, 2019). Regarding that, education attainment continues to play a role in determining one’s social status. Notably, individuals who attain post-secondary education, climb up the social ladder after getting good jobs. It so happens that they recognize opportunities in the market and also pursue career prospects that pay well. Education, therefore, plays a significant role in determining an individual’s social status (CFI, n.d.). For example, one can attain certain status by pursuing a course that gives them a high chance of getting employed.
Acquiring higher education is deemed to determine occupational and economic status. Notably, one will get better employment terms for completing higher education studies. An important issue that derives from undertaking higher education is the ability to identify and investigate opportunities in the market. As an indicator of recognition and knowledge, one can use the knowledge attained to create distinct attributes that give a competitive advantage in the labor market. Further, education attainment in most countries influences the recruitment of graduates (Gugushvili et al., 2021). Most employers look at the GPA scores to rate job candidates. Most often, those who have better scores and from leading universities get consideration. In a societal context, that defines one’s level of income and standards of living. Considering the case of Australia, students with the highest quartile have better socioeconomic status than those with low quartiles. The relationship between higher education attainment and social status is significant as it impacts one’s cognitive ability to determine and make critical decisions.
Conclusively, education is central in evaluating and determining an individual’s social status. One can use experience and skills gained to look for employment with better payment. In so doing, one can access basic services such as medical care, housing, security, and family obligations. As a measure of social class, the level of education should be used to understand the opportunities one can get (LEGCO, 2019). In the job market, education could help create flexibility in identifying and accessing offers that suit one’s choice. In line with that, one can use education to bargain for better opportunities. That is essential in setting specific social standards that benefit an individual.
Occupation as a social mobility factor
Occupation is expressed and determined by activities an individual engages in to generate income. For example, one can work as a doctor, lecturer, consultant, or educator to earn some income. A person’s socioeconomic status greatly depends on the occupation. In Hong Kong, several occupation opportunities have been opening, and professionals are benefiting the most. The aspects of skill and knowledge play a vital role in influencing recruitment (LEGCO, 2015). In 2011, the demand for a high-skilled workforce increased to 39% from 23.2% in 1991. Although there is still a gap in meeting the market demand, creating more job opportunities for professionals is essential. Individuals working in professional occupations stand a better chance of improving their social status.
The youth aged between 15 and 24 years benefit the most from the job opportunities created by the market. Since most of them highly regard social status, their occupation is vital as it defines the services they acquire (CFI, n.d.). While upward occupation mobility is essential in enhancing one’s quality of life, it is important to note not all get equal opportunities. The aspect of social inequality plays a part in determining an individual’s prospects in the job market and society. In society, such occupations as medicine, engineering, law, or accounting are highly regarded. Individuals who occupy them are perceived to be in the upper-middle and upper social classes (LEGCO, 2015). That is because the occupations correspond with high income and brilliant educational attainment. Nevertheless, the persons holding such occupations may get higher social classes without necessarily having a lot of income. Qualifying in the occupations requires one to have relevant degrees. Since the number of persons who hold them is relatively small, their regard in society is very high.
Additionally, educational attainment and occupation are pre-requisites for prestigious esteem. In society, a perceived may be perceived to be of a certain class by virtue of the degrees they have or their work. Independent of their level of income, one can acquire high social status because of the job they do. While the variables may not be linked, evaluation by society may place an individual in a particular class. For example, a university professor will rank high in a social stratum because of their education attainment (LEGCO, 2015). Also, that is because of the esteem the professors hold and the role they play in creating and nurturing the minds of individuals. Consequently, occupation in society is a key factor in determining a person’s social class. Even without a lot of income, one could hold a high social class because of their occupation or training.
Strategies for the Hong Kong government
Research shows that providing quality education to the youth and creating employment opportunities enables them to climb the social ladder. Hong Kong being China’s special administrative region, youth employment and education are strong instruments for improving their living standards (LEGCO, 2015). With over 7.5 million people, the city is bound to grow and increase its population. It is looking forward to creating a more versatile education program that will help the young generation in the region to improve their social status (Thomson, 2018). Same way, providing more job opportunities to the youth will increase their income and will have an influence in raising their social standards. The case of Hong Kong could draw lessons from Finland, which has initiated and implemented various programs to empower its youth. To enhance its response to the educational and employment needs of its young generation, the following strategies ought to be implemented.
One of the strategies the Hong Kong government could use to support its youthful generation is by promoting youth work education. The program will see the city’s youthful population enroll in different courses at different levels. In Finland, the education system enables youth to work as they attend their training. Also, the policy allows youth to pursue courses of their interests (OECD, 2012). Replicating and implementing the policy in Hong Kong will allow more young people to attend courses that will enable them to get job opportunities. The work education system is essential in allowing more youth to pay for their training. One of the challenges many young people face in Hong Kong face is the high cost of training (Ministry of Education and Culture, 2012). While the strict work timeliness hinders a majority from pursuing further education, their hopes of improving their social standards are shuttered (IEG, 2013). Consequently, introducing the policy will see young people aged between 15 and 24 years enroll in different trainings as they work.
Also, the Hong Kong government can introduce an education funding program for the youth. It will help bridge the social gap between low-income families and the rich (Ministry of Education and Culture, 2012). Since the issue cost is a significant consideration, the government could think of setting up a fund that supports students from low-income families. As provided in the recommendations by the Organisation for Economic Co-operation and Development (OECD), equity and quality education is essential to all learners. Irrespective of the socioeconomic status, all desiring learners get equal opportunity to pursue further education (The World Bank, 2019). Equity and quality policies support learners from disadvantaged families (OECD, 2012). By implementing the requirement, Hong Kong will ensure young people interested in higher education acquire skills and knowledge that empowers them in the job market. Reasonably, they fully participate in activities that shape modern society like communication, leadership, and development.
Strategies for youth employment opportunities
Looking into the case of Finland, creating employment opportunities offers all young people under the age of 25 years a place on-the-job training. The Youth Guarantee program also covers individuals under the age of 30 years who has not been employed. The specific elements in the guarantee include employment, training and education, provision of workshop training, and planning outreach for exposure. In Hong Kong, the policy will play a vital role in supporting the youth to attend training and also secure jobs. That is critical in helping them earn and improve their living standards (SDG, n.d.). In implementing the strategy, both the national government and local authorities, through the ministry of education, will conduct interactive sessions with interested students to identify their needs. As such, the government will develop a model like ‘Sanssi Card’ for Finland. It offers a wage subsidy for junior employees. Also, it lowers the criteria for getting hired. In most cases, the challenge young people encounter when searching for jobs is competition (Kiilakoski, 2019). The employers require they have some experience. However, that is not always possible since they are from school and cannot compete with ones already in the job market.
Further, the Hong Kong government can introduce a program that supports entrepreneurship and employment opportunities for the youth. One of the areas to focus on is skill development. Since the labour market is becoming highly competitive, bridging the skills gap through formal and informal training will help the population compete with the experienced workers (SDG, n.d.). Also, it could be necessary to look into issues related to national and institutional frameworks to create jobs that suit young people. For example, the government can introduce scheme projects that give preference to the youth. With affirmative action, young graduates will be absorbed and have places where they can acquire marketable skills. Most importantly, creating opportunities for entry-level jobs will enable one to access employment once they finish school. Finally, the government can consider avenues for strengthening leadership channels and identifying youths that are disadvantaged. Regarding that, skills training and programmes will offer technical support the target population could use to work in different capacities (Kiilakoski, 2019). The ultimate objective of all the interventions should be to empower young people by having an income. The basic value should be to enable them to afford decent life by changing their living standards. Notably, the situation in Hong Kong is evolving and becoming a commercial hub where a significant population could migrate to search for employment. The young population remains dominant, and their representation in society cannot be assumed. In response to that, it will be the responsibility of the government to identify employment opportunities that will benefit the youth.
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