KEY SUCCESS FACTORS FOR MALAYSIAN SMES COMPANIES’ ENTREPRENEURIAL LEADER
Keywords:Characteristics of Entrepreneurs, Success of a company, Key success factors, Malaysian SMEs
The SMEs Industry in Malaysia has expanded to almost every sector including manufacturing, services, agriculture, tourism, mining and quarry. Understanding the importance of retaining and expanding more entrepreneurs, this study had investigated success factors of entrepreneurial leaders at SME companies in Malaysia. The objective of this study is to analyze the success factors of entrepreneurs in the Malaysian SMEs. Data has been collected from top 50 SME award winning companies. The study has used the qualitative
approach,, where interviews are dispersed on these selected companies. We administered some questions based on key characteristics of an entrepreneur, as well some structured questions to determine a successful of a company. The result shows that, entrepreneurs are confident, determine, diligent, flexible, responsive to challenges, responsible, foresight, courageous, aggressive, and committed. Consistent to this, several elements that makes the company successful includes (1) strong financial control, (2) continuous improvement, (3) product quality and product safety as top priority, (4) hard work and team work, and (5) eagerness in taking challenges. These results has deemed that entrepreneurs in many aspects are also leaders that are risk averse and determine, and are eager to work on continuous improvement in a financially strong company.
Carland, J. W., Hoy, F., Boulton, W. R., & Carland, J. A. C. “Differentiating entrepreneurs from small business owners: A conceptualization,” Academy of management review, vol. 9, no. 2, pp. 354-359, 1984. DOI: https://doi.org/10.5465/amr.1984.4277721
Cunningham, J. B., & Lischeron, J. “Defining entrepreneurship,” Journal of small business management, vol. 29, no. 1, pp. 45-61, 1991.
Hornaday, J. A., & Aboud, J. “Characteristics of Successful Entrepreneurs,” Personnel Psychology, vol. 24, no. 2, pp. 141-153, 1971. DOI: https://doi.org/10.1111/j.1744-6570.1971.tb02469.x
Indarti, N., & Langenberg, M. “A Study of Factors Affecting Business Success among SMEs.” Empirical evidences from Indonesia, 2005.
MITI, Ministry of International Trade and Industry, Malaysia, 2010.
Pelham, H. R., & Rothman, J. E. “The debate about transport in the Golgi—two sides of the same coin?,” Cell, vol. 102, no. 6, pp. 713-719, 2000. DOI: https://doi.org/10.1016/S0092-8674(00)00060-X
Saleh, A. S., & Ndubisi, N. O. “An evaluation of SME development in Malaysia,” International Review of Business Research Papers, vol. 2, no. 1, pp. 1-14, 2006.
SMIDEC, Policies, Incentives, Programmes and Financial Assistance for SMEs in Malaysia, 2000.
SMIDEC, Policies, Incentives, Programmes and Financial Assistance for SMEs in Malaysia, 2004.
SME Corp Malaysia, Annual Report, 2013.
Storey, D. J. “Understanding the small business sector.” University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, 1994.
Ucbasaran, D., Westhead, P., & Wright, M. “The focus of entrepreneurial research: contextual and process issues,” Entrepreneurship Theory and Practice, vol. 25, no. 4, pp. 57-80, 2001. DOI: https://doi.org/10.1177/104225870102500405
How to Cite
License and Copyright Agreement
In submitting the manuscript to the journal, the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere.
- That its release has been approved by all the author(s) and by the responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and copyright agreement.
Authors who publish with International Journal of Engineering Technologies and Management Research agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License (CC BY-SA 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or edit it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
For More info, please visit CopyRight Section