Friday, June 12, 2020

OLYMPIC YEAR 2020 AND COVID-19 PANDEMIC AFFECTING BUSINESSES

The COVID-19 pandemic also known as the coronavirus pandemic is an ongoing pandemic of coronavirus 2019 caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The outbreak was first identified in Wuhan, China in December 2019. The World Health Organisation declared the outbreak a Public Health Emergency of International Concern on 30 January 2020 and a pandemic on 11 March 2020 (Source: https://en.wikipedia.org/wiki/COVID-19_pandemic)



Daily activities and businesses throughout the world were largely affected by this Pandemic especially in Malaysia whereby we have had our Movement Control Order that prohibits us from travelling interstate, working in non-essential places and so on.

Some businesses had been said to have lost in a reported region of up to 70% and above total earnings for the year 2020. These would include airlines, hotels, gaming and horse-races. Traditional businesses and small-medium enterprises find it hard to cope with bank loans to serve and the askance for them to be more agile in running their businesses.

Those that did well during this time of crisis are medical suppliers such as mask-makers, rubber gloves and those related to essential goods including food takeaways and animal feed.

It is my understanding that there are three things to look urgently into. They are:-

1) Human Resources;
2) Expenses relating to Certifications;
3) IT infrastructure and marketing.

Human Resources

Salary often forms a large part of operations. A note of caution should be given on retention of staff and not just removing staff for the sake of reducing costs. Your staff represents your business image and the carry-on of your business in good times and in bad times. Ideally, it will be good to sit down with the HR and come to an agreement with the staff to reduce their salary up to an acceptable level until businesses return back to normal, when possible.

Expenses relating to Certifications

Businesses that rely on certifications including quality management, trading, import and export should view the overall objective of whether certificates are needed. In some cases, to obtain the certification, improvements must be made to fulfill the criteria of the certification and these may cost a lot of money. Make sure not only to compute the costs of consultants and certifications but also the cost of improvements and meeting the requirements of certifications.

IT infrastructure and marketing

At this time, companies will look to follow their neighbours by spending into IT infrastructure and doing a lot of marketing and promotion of the businesses. However, this solution may not work well as there are many competitors in the market and they have invested much earlier than you into their businesses. One of the good options to consider is to find a business partner to work with on workable IT solution with co-branding. This will reduce the risk of failing in spending monies into IT infrastructure and marketing.

Should you have any questions, please email to contactus@miens360.com

Thank you and stay safe.









Monday, June 03, 2019

CELEBRATING OUR 20TH ANNIVERSARY

In 2019, MIENS celebrates its 20th anniversary.


Established in Kuala Lumpur, Malaysia on the 3rd June 1999, we have advised and consulted many types of organisations ranging from small family-sized to one of the largest in the world.

We continue to provide advisory and consultancy for the greater good of our clientele. The sectors that we serve well include retailers, manufacturers, food processes, fishmeals, industrials and government agencies.


Our own Strategic Action Plan (2016-2025) focuses on helping to start own businesses, promoting financial bottom-line, productivity, management systems, technology and innovation, access to financing, enhancing market access and international, meeting the policy and regulatory environment, expanding entrepreneurship and human capital development.

Do contact contactus@miens360.com should you be interested to discuss business with us.

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       Behind every successful effort, there is THE THINKING FIRM.

Friday, September 30, 2011


                                 
                               Malaysian National Forest Stewardship Standard Drafting,
                               Qliq Hotel, Damansara Perdana, 17 April 2017



Aust. High Commission Hi-Tea,
Suffolk House, Penang, 
23 September 2015

Saturday, August 13, 2011


FSSC 22000 Lead Auditor, Ixora Hotel, Penang, 27th to 31st July 2016
together with
PT Musim Mas, Aik Joo Can, Mondelez (formerly Kraft), Acidchem, Maestro Swiss, MSM Prai, Soon Soon Oil Mills, Preceptor

Saturday, January 29, 2011

Sunday, May 01, 2005

LATEST ARTICLES

Effective July 10 2016, all new articles had been shifted to Wordpress format. Thank you.

Please goto https://xfulcrumx.wordpress.com to view.

First post in Wordpress

https://xfulcrumx.wordpress.com/2016/07/10/1/


Old articles

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