Perspective

PerspectivePrevailing Economic And Business Landscape

The challenges in the economic and business landscapes are becoming more evident. Hazy words such as ‘globalization’, ‘competitiveness’ and ‘sustainability’ are making better sense now than they were 10 years ago. Once thought as theoretical and applicable only to large companies, they are currently deliberated by companies of all types and sizes. They are the new realities of today’s corporate landscape.

The application of Sun Tzu’s The Art of War into mainstream corporate management is testament as to how tense and competitive the corporate environment can be. More recently, the acronym VUCA, derived from the military vocabulary which stands for volatility, uncertainty, complexity and ambiguity in battleground scenarios has also found way into the realm of strategic corporate management. Companies must not only be responsive but also able to manage the challenges and adversities in the prevailing corporate environment.

Key and influential global indexes such as the World Bank’s Doing Business, the World Economic Forum’s Global Competitiveness Report and the International Institute for Management Development’s World Competitiveness Yearbook have identified corporate governance, corporate responsibility and innovation as part of the components to attain economic competitiveness. Corporate governance relates to the establishment and management of systems, processes and structures in a company. Corporate responsibility is about harmonizing corporate existence or operations with the expectations of the society, environment and economy. Finally, innovation pertains to value creation.

Pinnacle Perintis Sdn Bhd (Pinnacle Perintis) believes companies must strive to achieve sustainability. A sustainable business operation entails harmonious co-existence with the prescribed regulatory parameter, society, environment, the economy as well as the ability to continuously churn innovative products and services in addition to attaining profitability. The Economic Triple Helix – the balanced integration of corporate governance, corporate responsibility and innovation into corporate operations is key to attaining business sustainability.

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