BUSINESS

MPC: MALAYSIA BUSINESS EXCELLENCE FRAMEWORK AN ESSENCE OF BUSINESS TRANSFORMATION

12/07/2021 11:34 PM

KUALA LUMPUR, July 12 -- Malaysia Productivity Corporation (MPC) has urged industries and organisations to adopt the Malaysia Business Excellence Framework (MBEF) to achieve business sustainability, competitive advantage, and operational excellence.

Director-general Datuk Abdul Latif Abu Seman said organisations that hooked onto the operational excellence have proven to be more resilient and will survive during the challenging period.

“Achieving operational excellence helps organisations to stay competitive and make customers happy while keeping costs low. An excellence-oriented culture has never been more important for an organisation to withstand change and accelerate growth while acting fast to the unprecedented challenges.  

“Companies are facing huge challenges to navigate the impact of the COVID- 19 pandemic. There are issues that need to be addressed, ranging from decreasing demand and increased competitiveness, changing consumer behaviour, labour, and raw materials shortages,” he said in a statement.

Industry champions have warned businesses that a full recovery may not be possible in the near future, he added.

“Clearly, many businesses worldwide are impacted and will struggle as they will face closure of businesses, old business model taken over by new business model, difficulty in attracting new investors or investors pulling out from the country.

"Chief executive officers and business owners will have to rethink the way they have been operating and reinvent their business models. They need to step out of their comfort zone and take radical approach to overcome the challenges.

"The business owners need to have a sense of urgencies and realise that there are business problems that need to be solved. Many of them will have to take a multi-pronged approach to out-manoeuvre an uncertain future,” he said.

Realising the urgent need of transforming the business and restoring the economy, MPC, the leading productivity, quality and innovation agency, has established MBEF to assist organisations to achieve sustainability and competitive edge. 

The framework is also used as a tool to assess and recognise organisations participating in Quality Management Excellence Award (QMEA), introduced in 1990, by the Ministry of International Trade and Industry.

-- BERNAMA

 

 


 


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