NEAC: Get the foundations right first

THE Prime Minister’s call for a new national economic council is both timely and necessary if Malaysia is to deal effectively with the strong prospects of a regional economic slowdown (“Public backs PM’s proposal”, Nation, The Star, Feb 3; online at bit.ly/star_economy).

While the NEAC 2.0 (National Economic Action Council) has drawn public support, there remains some vexing questions, including who makes up its members. These change agents are tasked with driving the new polices on how best to steer our country’s economy in these uncertain and difficult times.

Top businessmen and experts rightly called for impartiality. Hence, it is important that the council include a good balance of representatives from key policy planners, private business and key industry players from diverse sectors. Inclusiveness also calls for key consumer groups to have their input.

As an organisation, this council needs to have the right balance of diverse managers and leaders, as they will, in turn, enable the best use of the Four Ms of successful management – namely, materials, machines, money and methods.

It will be great if NEAC 2.0 is able to resurrect Malaysia’s “Asian Tiger” endeavours. A keen sense of bipartisanship and a strong focus on fostering the elements of entrepreneurship will help us deal with headwinds from any regional or global economic crises. The political will to put our nation’s interest first must prevail.

Management guru Peter Drucker’s “management is doing things right, leadership is doing the right things” quote highlights that NEAC 2.0 is very much about providing clear and sound leadership. Effective leadership is putting the right foundations first. Effective management, by business and industry, is about cultivating discipline when carrying out these right policies.

SZE LOONG STEVE NGEOW

Kajang, Selangor