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70 percent of HK companies have low or insufficient innovative efficiency capability

Anuradha Shukla | Sept. 20, 2017
Financial services and banking stands out with 10 percent of them scoring "excellent" -- the highest rating in Fuji Xerox's Enterprise Innovative Efficiency Capability Index.

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Credit: Storyblocks

Fuji Xerox has released an Enterprise Innovative Efficiency Capability Index (EIECI) in Hong Kong.

The index reveals the efficiency of all companies from small, medium to large sizes, and also sets an industry standard to measure innovative efficiency in an objective and consistent way.

It was revealed that more than 70 percent of the companies in Hong Kong scored "low" or "insufficient" in innovative efficiency capability.

Only 8 percent of the respondents scored "good" or "excellent", and the overall EIECI score is only 42.24 out of 100 at a rating of "low" - the second lowest in the scale.

"We are thrilled to create an unprecedented index for Hong Kong enterprises to benchmark themselves, through funding and conducting a collaborative research project with Knowledge Management and Innovation Research Centre of The Hong Kong Polytechnic University," said Herbert Hui, managing director, Fuji Xerox (Hong Kong). "By introducing Enterprise Innovative Efficiency Capability Index, we want to highlight the importance of increasing efficiency with innovation to business decision-makers and management. We look forward to conducting this research annually and increasing the representativeness of this Index further with more participations."

 

Plenty of room for improvement

The EIECI reveals that Hong Kong enterprises are facing plenty of room for improvement on innovative efficiency.

The EIECI research was carried out from May to August this year through online survey collection and in-depth interviews with 100 respondents from companies of various sizes.

The survey shows efficiency level of Hong Kong enterprises in an innovative way and looks into the company in these five dimensions: strategy, customer-centric, office environment, process and empowered employee.

Among all, financial services & banking stands out with 10 percent of them scoring "excellent" -- the highest rating in innovative efficiency capability.

A fifth (20 percent) of the respondents from tourism and 7 percent of the surveyed trading & logistics companies scored "good" -- the second highest rating.

Manufacturing and professional & producer services performed comparatively poorly in the EIECI survey, with 29 percent and 28 percent of respondents respectively scoring "insufficient", the lowest rating of the index.

 

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