HK companies score low on innovative efficiency

Fuji Xerox Hong Kong's first Enterprise Innovative Efficiency Capability IndexOver 70% of Hong Kong enterprises scored “low” or “inefficient” in Fuji Xerox Hong Kong's first Enterprise Innovative Efficiency Capability Index (EIECI), the company announced.

The research, conducted with PolyU's Knowledge Management and Innovation Research Centre, found that only 8% of Hong Kong respondents scored either “good” or “excellent” on the scale. The overall innovative efficiency score for all companies was also low at only 42.24 out of 100.

PolyU chair professor and director for the Knowledge Management and Innovation Research Centre professor WB Lee said the results demonstrate that Hong Kong enterprises have plenty of room for improvement on innovative efficiency.

“According to the research results, the innovative efficiency capability of responding companies is relatively low in general. We hope EIECI can help Hong Kong businesses to let go their outdated mindsets of measuring efficiency in traditional ways such as effort, resources [and] energy,” he said.

“Instead, they should measure efficiency in an innovative way, and revolutionize their companies with innovation.”

The research surveyed 100 respondents from companies in various sizes in six large industries, including the four pillars of the Hong Kong economy – financial services, trading and logistics, tourism and professional services. The research measured a company's EIECI in five dimensions - strategy, customer-centric, office environment, process and empowered employee.

The financial services and banking sector had the highest overall rating in innovative efficiency capability, with 10% of companies scoring the highest “excellent” rating. Meanwhile 20% of respondents from the tourism industry scored “good”, compared to 7% for trading and logistics.

By contrast, the manufacturing and the professional and producer services industries performed comparatively weakly, with 29% and 28% of respondents respectively scoring the lowest “insufficient” rating.

Arup is one of the responding companies in the research that scored "excellent" on the EIECI scale. It has exhibited strength particularly in the office environment and empowered employee dimensions.

"The index provides a useful framework for an enterprise to identify its strengths and weaknesses, enabling the enterprise to develop strategies to improve its efficiency capabilities," said Ricky Tsui, R&D director for East Asia at Arup.  

Tsui said that Arup has set up a creative space, which is an open area for staff to interact and brainstorm ideas for various projects, as well as to host different activities. Furthermore, Arup University is also established not only to provide training but also to empower staff to explore business trends, inspire new ideas and share new knowledge internally. 

Fuji Xerox plans to conduct the EIECI research annually to help Hong Kong enterprises improve their performance in this area.