The business world today has gone beyond the requirement to stay competitive against peers within the same industry, as it is getting more popular in which other sector’s non-specialists are coming into your sector to share a pie from the market. For instance, after the pandemic 2019/2020 coronavirus or at least in the midst of having such outbreak of illness, many manufacturers have switched or added on their product range from distribution to manufacturing of glove, vaccine, upstream, midstream to downstream for the sake of supplying to such high demand of global. Especially in the glove production industry, in which Malaysia can enjoy mass supply at an affordable raw material cost since we are one of the countries in the whole world that can enjoy plenty of and also the top largest numbers of rubber tree plantation suppliers to other nations too. A rubber glove is undoubtedly the star performing product and its players are all doing well to carry out a lot of share buybacks, high dividend to shareholders to many of them get dual-listing in other stock exchanges of the world; in addition to that, they are also major players who venture into other industries since they have piled up cash to utilize with.
It is common to see vertical diversification or penetration of players within the similar sector, such as building materials producer or trader venture into a contractor or main contractor turns to developer and property developer or land banks owner put themselves into the design and build, developer or becoming a turnkey EPCC (engineering, procurement, construction and commission) as well as BOO (build, own, operate) in the engineering field. Developers tend to be growing their own construction arm as a builder, trading house or material producer from a lightweight block, Industrialized Building System (IBS) that comprises structural products, prefabrication, modular houses, precast concrete and related interior and exterior materials vendors. Subsequently, players shall place their eyes not only on their existing competitors in the past or current, they have to also pay attention to the potential and upcoming ones. Of course, in a free market, everyone shall be granted an equal opportunity to do so when criteria can be met.
Innovation is a must to be derived internally from every organization, horizontal diversification shall also be coupled with a strategized full range of product and service providers in the same field when financial and portfolio of sufficiency are there. Continuous learning needs to be implemented by the entrepreneur or business owner, consistent and updated technical and non-core skills training have to be offered to the team. Ensuring quality product and project service to gain confidence while compiling their strengths in terms of experience, project reference, track record, financial and non-financial resources including talent acquisition and brand reputation are often the main objective to go around with during the commerce life of the company. Besides hiring outsourced coaches to the office or site for education, internal culture and external mirroring of the whole supply chain’s stakeholders must be built. As simple as equipping the knowledge from vendors’ product briefing, installation on-site and other paper-based or real project execution are nevertheless few of the best ways to pick up the know-how.
How to Perform Better in Construction & Engineering Industry in Malaysia
Aathaworld Sdn Bhd operates a platform also to allow customers and vendors to carry out their project tendering, sourcing and marketing that cover a wide range of products and services, inclusive of project or building types of residential, commercial and industrial. Different sectors and demand nature can also be supplied by our chain of suppliers, sub-contractors, consultants (such as architect, engineer, interior designer) and manufacturer. As a trustable offline and online platform intermediary in Malaysia, we resolve your sourcing and marketing challenges by either looking for customer, supplier or contractor for your projects as well as grabbing tenders to quote in KL Kuala Lumpur, Selangor, Klang Valley, JB Johor Bahru, Penang, Malacca (Melaka), Seremban Negeri Sembilan, Perak, Pahang, Kuantan, Kelantan, Terengganu, Perlis, Alor Setar Kedah, as well as Sabah and Sarawak for East Malaysia. Our supply chains of product and service are also able to cater for overseas countries especially Southeast Asia (SEA) countries such as Singapore, Myanmar (Burma), Cambodia, Vietnam, Laos, Thailand, Indonesia, Philippines, Brunei, Bangladesh as well as China, Taiwan, Hong Kong, Australia and New Zealand. As a commercial, residential and industrial project coordinator, we always believe collaborate and input our best role to fit are always best strategy. Do consult us for your design, supply, installation, fabrication, repair, upgrade or maintenance projects (as we can also be involving in certain part as a whole to ensure the quality of customer and vendor) in Malaysia today at info@aathaworld.com or call (WhatsApp) to +(60)11-7001 1003 (Monday to Friday) or +(60)11-1188 1003 (Saturday, Sunday & Public Holiday).
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