| Logistics Management Research Center | |||
| HKBU | School of Business | Text | English | ¤¤¤å | |||
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Introduction Nowadays, Hong Kong is experiencing an industrial transition and upgrading towards knowledge economy, logistics firms have unprecedented development opportunity as economic integration with the Pearl River Delta (PRD), China's access into the World Trade Organization (WTO), the Closer Economic Partnership Arrangement (CEPA) between the Central Government of China and Hong Kong Government, as well as the high contribution of logistics management to regional economic development. However, the logistics firms in Hong Kong are far from capitalizing from these great opportunities. Small- and medium-sized logistics enterprises (SMLEs), accounting for 98% of Hong Kong enterprises, are constrained by inherited and derived operation problems. These problems, such as lack of long-term vision and strategy, mentality of SMLE owners and their opportunistic behaviour, small scale of business operations and tight cash flow, outdated logistics management concepts and skills, heavy reliance on low cost are operations, nominal added values and innovation in logistics services etc., prohibiting them to appreciate the benefits of CEPA and economic integration. Instead, SMLEs are suffering much fierce competitions from multinational companies in the high-end logistics sectors, and from local logistics firms in the PRD region in low-end logistics sectors. Actually, they face an increasingly difficult challenge in the economic transition, and they are in a vulnerable position when they expand their logistics business in the Mainland. |
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