Phl urged to rethink business strategies

KUALA LUMPUR – The chairman of the Malaysia External Trade Development Corporation (MATRADE) has said that there is a need for local businesses to rethink business strategies in managing and operating their businesses to ensure their growth and survival in today’s business environment.

In his welcome remarks to delegates at the opening of the KL International Trade Forum 2010 (KLITF ’10), Dato’ Mah Siew Keong stated that new initiatives, technology improvements and staying ahead of the competition were forces that would influence the way companies, including Malaysian firms do business.

Commenting on KLITF ‘10’s theme of “Business Unusual”, Mah said “implementing “Business Unusual” calls for swift and decisive actions, as bold, new measures need to be taken with new frontiers to be exploited. “Business Unusual” provides insights and perspectives on the way forward in doing things differently.”

He explained that from the government’s perspective, “Business Unusual” could be interpreted as implementing policies that supported economic activities towards a high income economy.

Mah added that knowledge, skills, innovation, and creativity would be the driving forces that will push the government in meeting its national development goals. This would necessitate a rethinking of the government’s policies and strategies from doing business as usual.

“The theme “Business Unusual” resonates the urgent need for both the public and private sectors to work closely together to address common challenges that we are faced with today,” he said.

KLITF ’10 was organized and hosted by MATRADE and held concurrently with INTRADE Malaysia 2010. The theme of KLITF ’10, “Business Unusual”, provides insights in doing business differently, focusing on bold and creative approaches in managing companies using innovation and resiliency in the face of adversity. Over 1,000 participants from different countries, including the Philippines attended KLITF ’10.