Proceedings of the Business Innovation and Engineering Conference 2020 (BIEC 2020)

Critical Success Factors in Business Operation and Its Impact on Productivity Growth

Authors
Rahimi Abidin, Nor Hasni Osman, Rushanim Hashim
Corresponding Author
Rahimi Abidin
Available Online 28 July 2021.
DOI
https://doi.org/10.2991/aebmr.k.210727.007How to use a DOI?
Keywords
Service sector, business management, strategic, productivity, sustainable
Abstract

Service sector in Malaysia continues to be the top source of employment. In the private sector, most jobs are created in sub-sectors such as trade, tourism, finance, insurance and business services. These industries operate in a competitive environment where customers are increasingly able to make choices. In a volatile business environment with rapid changes in regional and global markets, industry players need to emphasis on key success factors that enable organizations to track and measure progress toward achieving their strategic goals and meeting their mission. This study highlighted critical success factors in business operation among industry player in the services sector, which may contribute to the productivity growth. A survey was conducted with a total of 542 industry players who involve in completing the questionnaire. Descriptive and correlation analysis were used to analyze the critical factors that need to be considered in operating their businesses. Based on the result, it can be concluded that in sustaining and achieving a better performance, the companies in service sectors focus on the realization in operation management, followed by market positioning, marketing and distribution network, business diversification, cost structure, project management and raw material procurement. The finding also shows that all these factors are significantly contributing to the productivity growth in the service sector.

Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the Business Innovation and Engineering Conference 2020 (BIEC 2020)
Series
Advances in Economics, Business and Management Research
Publication Date
28 July 2021
ISBN
978-94-6239-409-4
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.210727.007How to use a DOI?
Copyright
© 2021, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Rahimi Abidin
AU  - Nor Hasni Osman
AU  - Rushanim Hashim
PY  - 2021
DA  - 2021/07/28
TI  - Critical Success Factors in Business Operation and Its Impact on Productivity Growth
BT  - Proceedings of the Business Innovation and Engineering Conference 2020 (BIEC 2020)
PB  - Atlantis Press
SP  - 36
EP  - 40
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210727.007
DO  - https://doi.org/10.2991/aebmr.k.210727.007
ID  - Abidin2021
ER  -