Business, Management and Accounting
8 years ago

Majority of SMEs in Malaysia Embrace Strategic Planning for Survival

International Journal of Business and Society
The strategic planning of SMES in Malaysia: A view of external environmental scanning
Wei Cheng, Kadzrina Abdul Kadir, Abdul Manaf Bohari

Paper Summary

Small and Medium Enterprises (SMEs) in Malaysia are facing tough competition and need strategic planning to survive. A study in the Northern states of Malaysia found that most SMEs do have formal strategic planning in place. They also pay attention to scanning the external environment for opportunities and threats. The strategic planning model by Wheelen and Hunger is found to be applicable to SMEs in this region. This shows that SMEs in Malaysia are adapting to the competitive market by using strategic planning methods.

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