Cost management skills among the owners of Malaysian small and medium enterprises (SMEs) in the era of globalisation

Muhammad Rosni Amir Hussin, Rose Alinda Alias and Kamariah Ismail

International Journal of Entrepreneurship and Small Business, 2013, vol. 20, issue 2, 205-213

Abstract: In the era of globalisation or internationalisation, as a developing country, it is crucial for the Malaysian Government to propose an SME development plan to assist the SMEs to meet the new business challenges in the competitive global business environment. This is because SMEs in Malaysia need to prepare themselves in various aspects, especially in respect of entrepreneurial skills and knowledge to face the challenges in this new economic era. From the literature, globalisation or internationalisation is considered to be among the most important motivations for Malaysian SMEs owners to strengthen their entrepreneurial skills and knowledge to compete with the big world players. Among the important skills that have been discussed in the literature is cost management skills. Therefore, this paper will give an overview of the skill in costing among the owners of Malaysian SMEs in the era of globalisation. Furthermore, this paper will provide recommendations concerning how to improve cost management skills among Malaysian SMEs.

Keywords: globalisation; internationalisation; SME development; cost management skills; Malaysia; small and medium-sized enterprises; SMEs; developing countries; entrepreneurial skills; entrepreneurship. (search for similar items in EconPapers)
Date: 2013
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