Small and medium enterprises in the Malaysian economy : some lessons learned for SME development in the Philippines
Issue Date
6-2016
Abstract
Small and medium enterprises play a vital role in the agro-industrial development and growth of the Malaysian economy. This paper identifies the development issues, major challenges and prospects faced by the Malaysian SMEs entrepreneurs and managers and discusses crucial SMEs development interventions as well as some important lessons learned from their experiences to serve as 'guides' to the Philippine government and the local SMEs. Research findings reveal that development issues and challenges include limited adoption of technology, lack of human resources, competition from multinational companies and globalization. In addition, key factors of success were identified: ability to respond quickly to market signals, systematic production and operations management and personal networking. The Malaysian SMEs benefited from the economy's resilience and competitiveness which are attributed to the continuing fiscal reforms, diversification of the economy and up skilling of capabilities and expertise among others. The country focuses on SMEs strategies such as product innovations in food and beverage manufacturing industry and technology adoption, human capital development, access to financing, market access and infrastructures.
Source or Periodical Title
Journal of Economics, Management and Agricultural Development
ISSN
2449-4585
Volume
2
Issue
1
Page
55-74
Document Type
Article
College
College of Economics and Management (CEM)
Frequency
semi-annually
Physical Description
Illustrations; tables; references
Language
English
Subject
Small and medium enterprise; Malaysia; Economics
Recommended Citation
Montes, Nimfa Beatris D. and Baticados, Glenn N., "Small and medium enterprises in the Malaysian economy : some lessons learned for SME development in the Philippines" (2016). Journal Article. 5798.
https://www.ukdr.uplb.edu.ph/journal-articles/5798
En – AGROVOC descriptors
MALAYSIA; SMALL ENTERPRISES; ECONOMIC DEVELOPMENT; INNOVATION ADOPTION; TECHNOLOGY TRANSFER; ECONOMIC COMPETITION; PHILIPPINES