“COMPILE COMPETITION REPORTS TO ENHANCE COMPETITIVE EDGE”
Business Efficiency is not determined based merely on handling procedures and processes as reported in “Malaysia’s Competitiveness Improves”(NST, 25 march 2011 at page 2).
According to Competition philosophy, it must revolve around the core need to effectively address customer delivery services(CDS) which has become a primary component in a Business Competitiveness assessment adopted by IMD.
It can be seen that Malaysia’s achievement hovers between position 18th and 23rd in past IMD reports(Singapore ranks 3rd and Hong Kong was in 2nd place according to “The World Competitiveness Scoreboard 2010”, IMD World Competitiveness Yearbook 2010).
While services-related initiatives have been established by the government to see better improvement, the lack or absence of clear understanding and communication between the upper management level and the lower executive management level could cripple the competitive performance of a business entity set up.
Customer Quality services must be made a central part in a business environment which strives to uphold consumerism interest.
Uncompetitive practices exist in many areas in the business and market environment before the enactment of the Competition Act 2010.
The Malaysian Competition Act 2010 was gazetted on 10 June 2010 and is expected to be implemented in January 2012. Hence, there is currently no national report which can be used to gauge ‘˜National Competitiveness’ performance in any meaningful manner to counter the data used by IMD in the compilation of their yearly IMD report. Hence the need to compile a ‘˜National Competitiveness Report’ in the nearest future for business and corporate reference (and especially so after the coming into force of the Malaysian Competition Act 2010).
This is where the government need to prioritize in order to ensure the achievement of all the economic objectives not just under the Government Transformation Programmes(GTP) and the National Key Economic Areas(NKEAs) but also the needed competition transformation in the business industry which will be taken as a criteria in the assessment of other aspect of transparency, competitiveness and efficiency by other international economic and financial assessment reports.
Jeong Chun Phuoc
Expert Consultant and an Advocate in Competitive Legal Intelligence(CLI)
and a Reader in Competitive Syariah Intelligence(CSI)
He can be reached at [email protected]
**The above professional analysis is the writer’s personal view and in no way represent the view/position of the research institutes/thinktanks/organisations to which he is currently attached to.