Critical Success Factors in Business Operation and Its Impact on Productivity Growth
- https://doi.org/10.2991/aebmr.k.210727.007How to use a DOI?
- Service sector, business management, strategic, productivity, sustainable
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.
- © 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 -