O itted partners in nation- building
BUSINESSES, big and small, have significant roles to play in the growth of a country and its economy. From employment of a nation’s citizens to the investment in its economy, businesses contribute in numerous ways.
The job of a business is to provide goods and services, and, more importantly, fuel for the nation to move forward. In what can be considered a chicken and an egg situation, businesses build nations through their processes within and without via the work they are engaged in. In turn, countries ensure a climate where businesses can prosper, grow and contribute.
Typically, large corporations contribute to nation building through their roles and responsibilities.
Their roles include being largescale employers, being involved in the creation of business activities and momentum gearing, and through their contribution in the nurturing and upskilling of talent.
In terms of responsibilities, large corporations play as much a part in the communities they operate from as they do in the country they are established in.
They are essentially large organisms in the ecosystem of the country, shaping the environment, interacting with businesses, organisations, communities and governments, creating demand, and providing a significant portion of the supply.
The biggest factor in a company’s ability to influence is its size. Large corporations can create trends, run campaigns and set standards in their quality of service, and influence manufacturing outcomes because of their resources.
One good example of the contribution of large companies in Malaysia can be seen in our ports, roads and transportation systems that have spurred the nation forward.
Companies such as Westports Malaysia and Northport, Plus Malaysia Bhd and Malaysia Airlines have poured billions of ringgit into transport and infrastructure, creating hundreds of thousands of jobs, not to mention the large amount of taxes being generated for the government to then invest into other areas such as education and healthcare.
From companies also arise leaders – chief executives and chairmen of some of the top companies in the country.
Malaysia has an amazing group of leaders such as Tan Sri Tony Fernandes, Tan Sri Syed Mokhtar Al- Bukhary and Tan Sri Datuk Francis Yeoh, who have not only decided how their companies operate but are thought- leaders, transforming how this country thinks and behaves.
One such example was the way the country handled a national crisis, after the crash of Flight AK8501. Fernandes was praised for the way he personally ran things and dealt with the loved ones of the passengers and crew.
One of the mechanisms of growth is innovation. Joseph Schumpeter, analyst and advocate of capitalism, says without the removal of old products, enterprises and organisational processes, there will be no room for growth. Success lies in the hands of those who think innovation and achieve innovation.
This is one of the reasons that small and medium enterprises are said to be the backbone of the economy, because they are largely thought to be more innovative, have less red tape surrounding their efforts to grow and evolve, and have more dedicated and focused team members. But to say that large firms are too large to innovate and significantly contribute is untrue. Both big and large firms are critical to the success of today’s economy.