Dr Mah: During the pandemic, companies must transform to save themselves

KUALA LUMPUR: Companies must transform in order to save themselves during the pandemic, says MCA deputy president Datuk Dr Mah Hang Soon.

In a statement on Friday (Sept 3), he urged companies to make a variety of changes and reforms in order to break free from the pandemic and continue to operate.

“All businesses should use transformation as one of their self-help tactics.

"Enterprises can only stay competitive in today’s society by modifying their business models, responding to the obstacles and impacts posed by the pandemic, mastering and understanding public consumption habits, and making use of the government's incentives," he said.

He said during the pandemic, the government introduced a number of assistance programmes and initiatives to help the people.

"When the outbreak lasts more than a year, however, businesses must undergo transformations with government assistance to address any present issues.

"In addition to government assistance, companies must adapt to numerous problems and transform their strategies to continue operations," said Dr Mah, who is also the Deputy Minister of Education during the virtual corporate clinic for business day of epidemic enterprises.

He added that all businesses must stay alert of the many government-implemented policies for the benefit of the people and the entire society's consumption habits, as well as how to better blend in their business model into society.

"In addition to the influence on the corporate world, Industry 4.0 and Industry 5.0 have had a significant impact on the lives of citizens.

"As a result, the ability to adapt to changes is a key factor for continuous operations.

"Companies are not detached bodies. They are interrelated to many aspects, and the company's every move affects the wellbeing of everyone. Thus, many lives will be affected if businesses fail to overcome the current difficulties,” he said, adding that Go Care MCA's Virtual Corporate Clinic incorporated a variety of resources, such as commercial loans, online sales, and corporate transformation advice, and can fully cater to the demands of a variety of industries

The clinic first activity was a collaboration of MCA Economic Bureau, MCA Youth, Wanita MCA, Social Development Committee, CRSM GoCare, LA Branding and KOJADI.

Tan Tuan Peng, Chairman of the MCA Economic Bureau, said the Virtual Corporate Clinic was the first of its kind in Malaysia.

"Career matching, online sales, education and value-added programmes, and business transformation are its four core activities.

"The majority of Malaysia’s small and medium-sized businesses are suffering serious consequences as a result of the pandemic.

"As a result of the pandemic, many people's earnings have decreased, and some have even lost their jobs," he said, adding that more than 40 organisations have participated in career matchings and recruitments on the platform as a result of the pandemic's influence, the present sales paradigm has shifted, and online sales have become the norm.

He said MCA Youth would promote online marketing and feature Internet celebrities or e-commerce experts to provide tips for Internet sales on the business platform.