Over the past century there has been a dramatic increase in the world economy. The automobile and railway corporations have shown the rapid development in the economy. This paper is divided into four parts. The formal business report presents the detailed information about Kowloon-Canton Railway Corporation (KCRC), its purposes, bases of operations, mode of operation, and information about stakeholders, reputation quotient and industry in the first part. The second part of the essay critically discusses the professional industry standards (Public Services). The third part describes the relevant types of communication that would be engaged in the position of manager as well as the code of ethics for the whole corporation. This research raised many questions which require further investigation.
Kowloon-Canton Railway Corporation
KCRC was established in Hong Kong in December 1982. The main objective of the company is to construct and operate a network of heavy rails, light rails, feeder buses routes and provide railway operations in Hong Kong. On December 2, 2007, it ceased to be the operator of the KCR network, whose role was assumed by MTR Corporation Limited based on a 50-year concession agreement, which may be extended. Thus, KCRC remains the owner of the KCR network and MTR Corporation Limited makes annual payments to KCRC for the right to operate on the network.
Professor K C Chan GBS is a Chairman and Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government of KCRC. Professor K C Chan, GBS, JP stated in the annual report that due to the merger in December 2007, the company was able to manage its business even in the economy crisis with the help of MTR Corporation Limited (MTRCL) (Annual Report 2014). Moreover, a small part of the company`s revenue comes from MTRCL payments. KCRC is a leading railway operator with the perfect reputation, especially due to the quality of its customer services, cost efficiency, reliability, and safety.
The management team works closely with the above mentioned organizations in order to maintain a favorable working environment at any time. The following four Key Performance Indicators have to be stabilized for the efficient work in future:
- Turnover of the company;
- Earnings before interest, tax, depreciation, and amortization;
- Debt to equity ratio;
- Interest cover.
American Standard & Poor`s Financial Services LLC awarded KCRC as the company with a high reputation. (Standard & Poor’s Ratings Services, 2016). Moreover, Standard & Poor`s has affirmed the corporation rating at AAA/A-1+, thus the company has the highest rating that could be assigned by Standard & Poor’s. The financial commitment on the obligations is very strong.
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Professional Industry Standards
KCRC belongs to the Public Services Industry being a public transportation company. The Public Services Industry is fragmented, as it divides the production within the industry between several companies. The primary demand factors are population growth, increase in the local income and tourist travel as well as a growing demand to provide social services. The profitability drivers can be observed as implementing and delivering corresponding citizen-centered services, especially delivering government services due to its lower cost. The Public Services Industry is highly labor intensive with low level of capital utilization, including educational and environmental services, public transportation and public administration. Public organizations are usually operated at the federal or local levels, being financed out of the taxes and donations. According to the trade statistics, total global export in the Public Services Industry is $351,414,634,000, and total global import amounts to $354,590,043,000 (Globaledge.msu.edu, 2016). The main problem of the industry in the United States, China or Hong Kong is its continuing struggle with an increasing deficit. As a result, the government has to curtail some unnecessary public services such as retirement packages or transportation.
Relevant Types of Communication Working in the Position of Manager
A communication is an important tool for a professional and skillful manager. A manager has to know how to create and delegate new ideas and strategies, how to assess advantages and disadvantages of the company. There are two main types of communications for the managers such as top-down and bottom-up communication. As a manager, I have to communicate policies, procedures, instructions and clearly assign them to the employees as well as be always ready to communicate in various business issues face-to-face, online or in writing. Additionally, a manager is a positive, enthusiastic and self-motivated person with an eagerness to embrace new challenges, working well in teams, striving to the best results.
Conclusion
KCRC is a company wholly owned by the Government of Hong Kong and its activity is regulated by the amendments to the constituent documents of KCRC, as amended in 2007 because of merger of rail networks KCR and MTR so that the concession contract for provision of services shall be concluded with MTR Corporation Limited.
Comparing KCRC with the companies with a similar annual turnover, KCRC has fewer environmental footprints, employing small amount of people who have to work in the office. The sole stakeholder of the corporation is the government and MTRCL (Annual Report 2014). The main principles of the company are working with a team of passionate in order to make Hong Kong the best place to live and work. Furthermore, the corporation provides a variety of jobs, functions as well as consultations about efficient business strategies all over the world.