SME Development in Malaysia: Domestic and Global Challenges

The primary objectives of this paper are to analyze and discuss the development of Malaysian SMEs and their role, as well as various contributions, in the national economy. The paper goes further by reviewing extant literature to identify the major challenges facing this sector in Malaysia as well as government policies aimed at the development of SMEs. We find that, while the government has implemented many programs to strengthen the performance of SMEs in the economy, Malaysian SMEs still face many challenges, both domestic and external, which could hinder their resilience and competitiveness. A number of strategies which could assist them to access new markets, increase their revenues and expand their customer bases are identified.Malaysian economy, Malaysian SMEs, government assistance programs

Role of Relational Capabilities on the Supply Chain Performance of Indonesian Textile Sector with Moderating Effect of Technology Adoption

In modern era dynamic business environment has been changed. In these days competition is no longer between organizations, but between supply chains. The supply chain dependency leads the business focused on supply chain performance. The objective of this study is to examine the influence of relational capabilities on the supply chain performance of Indonesian. This study also intended to investigate the moderating role of technology adoption on the relationship between relational capabilities on the supply chain Performance. To fulfil the objectives of this study, the data was collected from the managing directors, supply chain managers, planning managers, and procurement managers. Structure Equation Modelling was applied for the assessment of hypotheses. This study’s findings show that supplier partnership, customer relationship and information sharing significantly influence the supply chain performance of Indonesian textile companies. Results also indicated that technology adoption has moderating effect on the relationship between supplier partnership, and information sharing with supply chain performance of Indonesian textile companies. Additionally, results indicate that technology adoption has no moderating role on the relationship of customer relationship with supply chain performance. This study contributes to Supply chain Management literature and provides empirical evidence that relational capabilities are those factors that could enhance supply chain performance of the firms with technology adoption

Can Malaysia escape the middle-income Trap ? a strategy for Penang

How can Penang upgrade and diversify its economy? This paper addresses this question using a number of methodologies that have been developed for assessing competitiveness and identifying the direction of future industrial evolution. The results show that although Penang was successful in attracting foreign direct investment to the electronics industry, this has not translated into a deepening of industrial capabilities or the nurturing of innovation capacity in Penang. No large Malaysian firms in Penang have taken the lead in innovation and there is little new entry by local firms, despite incentives provided by local and national governments are generous. Universiti Sains Malaysia, the principal university in Penang, is contributing through provision of skills, and it is beginning to multiply university industry linkages. However, the university’s research activities are too limited and too diffuse to significantly initiate innovation by local industry. Under the current circumstances, and given its relatively small size, Penang will have to try much harder to strengthen its competitive advantage in its most important industry -electronics- through actions that build research capital. It will also have to increase its efforts to develop the potential of other value-adding activities, such as medical services and tourism. A strategy focused on localization economies is likely to be the most feasible option.Technology Industry,Tertiary Education,E-Business,ICT Policy and Strategies,Agricultural Knowledge&Information Systems

The public relations campaign for Bangkok fashion week, Thailand

The purpose of this project is to apply public relations theoretical frameworks and advertising strategies to the public relations campaign for Bangkok Fashion week to increase the number of domestic participants

2011 Otis Report on the Creative Economy Report of the Los Angeles Region

Examines the combined economic impact of the arts, design, and entertainment industries in Los Angeles and Orange counties, including trends in employment, salaries, revenues, and nonprofit arts groups. Offers projections for 2015 and industry snapshots

Cultural districts and economic development

The aim of this paper is to analyze the economic properties as well as tbe institutions governing the start-up and the evolution of cultural districts. Cultural districts are a good example of economic development based on localized culture. The first part of the paper (sections 1-3) reviews the relationships between culture, viewed as an idiosyncratic good, and the theory of industrial districts. The sections 4-6 of the paper present a discussion of two models of cultural districts: the industrial cultural district (mainly based on positive externalities, localized culture, and traditions in "arts and crafts"), and the institutional cultural district (mainly based on property rights assigmnent and symbolic values). The section 7 deals with other models of quasi-industrial-districts, namely the museum cultural district (mainly based on network externalities and the search for optimal size), and the metropolitan cultural district (mainly based on communication technology,performing arts, leisure time industries and e-commerce). Policy issues will be analyzed in the final section 8. The hypothesis of a possible convergence of all districts models towards the institutional district, based on the creation of a system of property rights as a means to protect localized production will be discussed.

A STUDY ON COMPETITIVENESS OF READY-MADE GARMENTS FOR EXPORT-LED ECONOMIC GROWTH IN BANGLADESH: ISSUES AND CHALLENGES

Abstract: Bangladesh achieved remarkable economic development in the last few decades, and the ready-made garment (RMG) industry played a vital role in this regard. The future economic development of the country depends on the success and continuation of such industrial sectors for export-led growth of the country. Considering the importance of the export-led economic growth strategy, this study assessed the global competitiveness of this industry. Michael Porter’s Diamond model of national competitiveness is used as the main analytical framework to assess the sources of competitiveness. A SWOT analysis is also conducted to identify future challenges and critical success factor for the continuing contribution of the industry. The study followed a mixed method approach to investigate the research questions. Secondary literature, consisting mainly of reports and documents from government and the private sector, were collected to comprehend the contemporary industry. A survey of 199 respondents from 150 RMG factories was conducted to assess effects and relative weights of different factors included in the National Diamond model and to understand the basis of the competitiveness of the RMG industry of Bangladesh. A further 30 face-to-face interviews with representatives from five different stakeholder groups including international buyers were conducted to get further explanations and insights of different factors of importance for achieving and maintaining the competitiveness of the RMG industry of Bangladesh. The findings of the study reveal that not all the dimensions of Porter’s National Diamond model contributed to the competitiveness of the RMG industry. Among the four main National Diamond dimensions, the RMG industry of Bangladesh appeared to enjoy competitiveness without having a favorable demand condition in the domestic market. The other three main dimensions—i.e., the factor conditions, related and support industries, and industry strategy, structure and rivalry—mostly played conducive roles in the development of the RMG industry in Bangladesh and provided the impetus to achieve competitive advantage in the global market. However, within factor conditions, the availability of a large unskilled workforce, strategic locations and reasonable infrastructure acted as sources of competitive advantage despite some limitations including a lack of highly skilled mid-level RMG professionals, limited access to adequate financing, and deficiencies in R&D activities. Similarly, regarding related and support industries, a large number of backward-linkage knitwear industries positively contributed towards competitiveness, though industry respondents indicated an absence of well-developed clusters as a limitation compared to other countries. In the case of industry strategy, structure and rivalry, collaborative actions by the industry association regarding compliance issues, as well as collective responses to buyers’ needs, were identified as sources of competitive advantage, while sub-contracting to non-compliant factories and a lack of systematic R&D (e.g., an absence of a common e-platform) were considered as limitations. The findings indicate that the positive impact of favorable factors of those three dimensions (factor conditions, related and support industries, and industry strategy, structure and rivalry) were relatively stronger than the negative impacts, and contribute to the achievement of competitive advantage of the industry. Other than the four main factors, the study also found that government support has played a significant role in the development of the RMG industry in Bangladesh. The government provided these supports through various policy initiatives, financial incentives, and the negotiation of favorable trade agreements including tariff and import-quota free access to the European Union under the Generalized System of Preference (GSP) scheme. The study also recognized that three chance events greatly influenced the development of the RMG industry of Bangladesh and positively affected growth in the sector: a quota system levied against traditional RMG exporters (e.g. South Korea, Hong Kong) in the 1970s; the Multi-Fibre Arrangement (MFA) that governed world trade in textiles and garments from 1974 to 1994 and provided beneficial access for Bangladeshi exporters; and compliance issues raised after the 2013 Rana Plaza garment factory catastrophe. The findings further highlight the importance of Porter’s double, multiple and rough diamond propositions in maintaining the continuous growth and development of the RMG industry in Bangladesh. It also briefly points out the potential impact of current COVID -19 pandemic on the RMG industry of Bangladesh. Finally, it proposes further research avenues to advance knowledge on competitiveness from different perspectives along with policy implications for the RMG sector of Bangladesh

Factors affecting college students’ brand loyalty toward fast fashion: A consumer-based brand equity approach

Purpose: The purpose of this paper is to empirically investigate the factors affecting consumer’s fast fashion brand loyalty by examining US college students’ perceptions and loyalty toward fast fashion.Design/methodology/approach: Using consumer-based brand equity approach, a research model which examines the factors affecting consumer’s brand loyalty in the fast fashion context was proposed. It was hypothesized that consumer’s perceptions of fast fashion, including brand awareness, perceived quality, perceived value, brand personality, organizational associations, and brand uniqueness, affect consumer brand loyalty. Based on the valid data from 419 US college students, this study employed structural equation modeling to investigate the factors affecting US college students’ brand loyalty toward fast fashion.Findings: Results reveal that for the US college students, brand awareness, perceived value, organizational associations, and brand uniqueness are the contributing factors to generating consumer’s loyalty toward fast fashion brands.Originality/value: Due to the fact that fast fashion has become a key feature of the global fashion industry over the last decade, there is phenomenal growth in the availability of fast fashion brands in the US markets. This study provides valuable insights about young consumers’ perceptions of fast fashion brands and the factors’ contributions to their brand loyalty