Some Strategic Management Practices among Small and Medium-Size Enterprises in Malaysia’s Construction Services Sector
AbstractMany unconventional management practices and styles have emerged which are being tested. They are, in alphabetical order, A (accounting, auditing and accountability); B (budgeting of time, financial and physical resources); C (communication, information and technology); D (development and research of products, markets and marketing techniques); E (environmental and ethical management policies); F (finance, funding and financial issues); G (globalisation, regionalisation, outsourcing and networking); H (honesty, honour, integrity and intrinsic values); I (Islamic, religious, faith-related and moral values); and J (justice, compassion and altruistic social values). From the study, it was observed that the “A”, “B”, “C” strategies and other intrinsic values of the entrepreneur and faith-related management options were most frequently adopted. These impact-giving sets of strategies may be chosen and developed into core and job competencies. Thus, the contractors may be re-classified into the respective capability and competency levels to match their jobs and vice versa. Seeking fortune through trade (of goods and/or services) or business is encouraged as a form of Ibadah with rewards for profits in this world and Falah (success). Religious practices are very advantageous in management.
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Bibliographic InfoArticle provided by Advances in Management in its journal Advances in Management.
Volume (Year): 2 (2009)
Issue (Month): 7 (July)
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