Wednesday, 27 December 2017 11:56

Management Consulting

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Growth in the the Malaysian economy is anticipated to be around 4.7% in 2016. This may appear somewhat encouraging but in reality the expected terrain within which the economy will grow is somewhat gloomy.

It has been estimated that in 2015 alone, more than 20,000 employees from various sectors in Malaysia lost their jobs, an increase of almost 10,000 recorded in 2014. The Malaysian Employers Federation, MEF expects the numbers in 2016 to rise as the economy, which is closely linked to revenues from the oil and gas sector continues its descend. Things have reached a stage where the Government itself have frozen intake of public sector employees in 2015, except for critical positions. This means a loss of 15,000 job opportunities in the public sector.

The immediate concern now is how to provide job opportunities to the growing number of people who find themselves unemployed. If left unaddressed, this problem can have serious spillover effects on further curtailment of economic recovery due to suppressed internal consumption of goods and services offered.

The way forward is to intensify efforts at promoting the development and sustenance of an entrepreneurial culture in Malaysia. The realization among the unemployed that that their future now lies in their hands has to set in. The days of working for an employer for a fixed wage is gone. Under the present circumstances, the cultivation of an entrepreneurial mindset and persistence in seeking out successful products and services will unlock the huge untapped opportunities that technology presents itself.

Management consulting firms in Malaysia need to reassess their priorities and view the emergence of entrepreneurial growth as an opportunity for their own survival. They should cast aside their predisposition to provide consulting services only within their domain of expertise and identify how to navigate this emerging need of new breed entrepreneurs towards success. They should invest time and efforts in helping entrepreneurial skills develop and flourish.

Entrepreneurial skills center around attitudes (soft skills), such as persistence, networking and self-confidence on the one hand and enabling skills (hard skills) on the other hand, including basic start- up knowledge, business planning, financial literacy and managerial skills. By contributing in whatever way they can, management consulting firms can help considerably in developing these entrepreneurial competencies and skills, which are transferable and beneficial in many work contexts. The aim is not only to strengthen the capacity and desire of more individuals to start their own enterprises, but also to develop an entrepreneurial culture in society.

Sharma Management International, as a responsible Management consulting firm in Malaysia aims to garner support from relevant stakeholders in its effort to develop entrepreneurial skills in Malaysia. What it plans to do is to

  1. Encourage retrenched employees to seek opportunities as entrepreneurs in technology based industries by identifying suitable technologies that provide opportunities for the Malaysia.
  2. Educate and equip potential and early stage entrepreneurs in the areas of
    1. Management Development Program (MDP)
    2. Entrepreneurship Development program (EDP)
    3. Technical Skills Development Program (TSDP)
    4. Stakeholder Management Skills Development Program (SMSDP)
  3. Connect entrepreneurs to mentors, venture capitalist and entrepreneurial incubators to maintain the continuity of entrepreneurial development in Malaysia.

Hopefully Sharma Management International will be able to spearhead the concept of entrepreneurial consulting for potential and new entrepreneurs and in the process better the lives of people affected by the economic turmoil we are all in.

Read 1010 times Last modified on Wednesday, 27 December 2017 14:19
Dr Rumesh Kumar

Dr Rumesh Kumar is a certified project management professional, a certified professional trainer and performance improvement consultant specializing in the areas of leadership development, continual productivity improvement and enhancement of interpersonal skills.

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