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BMR-Dec-2018.Pdf Management Review BangiISSUE 03 / DECEMBER 2018 NAVIGATING THE FUTURE OF BUSINESS UKM-Graduate School of Business (UKM-GSB) Universiti Kebangsaan Malaysia 43600 UKM Bangi, Selangor Darul Ehsan © UKM-Graduate School of Business (UKM-GSB) All rights reserved. No part of this publication may be reproduced, stored, or transmitted in any form or by any means, whether electronic, photocopying, recording, or otherwise, without the written permission of the UKM-Graduate School of Business (UKM-GSB). Third edition December 2018 Perpustakaan Negara Malaysia ISSN 2600-8343 Printed by: Awal Hijrah Enterprise No. 12A & 12B, Jalan 3/69, Seksyen 3, 43650 Bandar Baru Bangi, Selangor. Typeset, Layout and Design by: Muhammad Hafizdzul Ahmad, UKM-Graduate School of Business,UKM i 30 9 1 EDITORIAL NOTE CORPORATE FINANCE WHY DO SOME FINTECH STARTUPS ENHANCING STRATEGIC DECISIONS IN FAIL? 2 THE AGE OF ANALYTICS KASHIF IBADULLAH KHAN 20 MOHD SIDEK ABD GHAFAR SUSTAINABILITY IN INVESTING 5 LOW SOO WAH WHIZZING TO THE FUTURE WITH AI IN 22 BUSINESS OPERATION MANAGEMENT SUZANNE TAN SERVICE OPERATIONS FLEXIBILITY FARAHANIS WAHEDA ZAMRI 7 FAZLI IDRIS KAEDAH PEMASARAN PERNIAGAAN MENUJU KE ARAH SISTEM PEMBUATAN 24 ATAS TALIAN 9 LEBIH EFFISIEN DENGAN LEAN WAN MOHD HIRWANI WAN HUSSAIN ARAWATI AGUS DISINFORMATION: ECONOMIC LOSS 28 AND SHORT-RUN GAINS ACCOUNTING MOONYATI YATID CLOUD ACCOUNTING ECOSYSTEM 11 NASUHA NORDIN E-COMMERCE: THE FUTURE OF LAST 30 MILE CONNECTIVITY TECHNOLOGY MANAGEMENT M. HAFIZ RASLAN INNOVATION LAB: A PATHWAY FOR M. QIDRAN M. JOHARI 13 FUTURISTIC BUSINESS SHANTINI NAIR A/P CHANDRA SAIKHARAN HUMAN RESOURCE MANAGEMENT PERANAN KEJURULATIHAN LEADING IN THE DIGITAL AGE 32 PENGURUSAN DALAM 15 ANIS NABILAH ROZALI & MENINGKATKAN PRESTASI PEKERJA DI NOOR NASHIRA AZDA AB HALIM JABATAN PERKHIDMATAN AWAM NURSAADATUN NISAK AHMAD THE RISE OF ROBOTIC PROCESS IDA ROSNITA ISMAIL 18 AUTOMATION TO SUSTAIN AZMAN ISMAIL COMPETITIVENESS IN BANKING INDUSTRY AN ADVICE TO NEWBIES IN GAINING HAN YEE KWAN & 35 TRUST PREMAH A/P MANOHARAN AHMAD SHAHRIL BIN SHAHARUDDIN OPEN PLAN OFFICE: BAD FOR 37 EMPLOYEES? NUR AMALINA KHAIROL MOKHTAR ii 45 JOB CHALLENGES OF EMPLOYEES IN 39 NATIONAL ANTI-DRUGS AGENCY AWARENESS OF ‘TEMPORARINESS’ FARAHRINA FRANCIS MARTIN 57 AND THE ROLE OF PLANNED CHANGE MOHD NUR IMAN ABD MAJID FOR AN ORGANISATIONAL SURVIVAL MOHMAD ADNAN ALIAS MACRO-MANAGING IS THE WAY TO 41 MANAGE MILLENNIALS FOR BETTER PERFORMANCE MARKETING ARUN KUMAR S/O MURUGASU CAN MALAYSIA ATTRACT MORE 59 TOURISTS FROM CHINA? THE WORKINGS OF A SMART LONG FEI 43 PAYCHECK ADVANCE AZRA SYAKIRAH BINTI ZULFAKAR GOVERNANCE CREATING MEANINGFUL WORK ENSURING “1MDBS” NEVER HAPPEN 45 THROUGH JOB CRAFTING 61 AGAIN IDA ROSNITA ISMAIL P GUNASEGARAM HAZLAN ABDUL HAMID ASSURANCE OF SHARIAH 63 COMPLIANCE: IS IT ONLY FOR ISLAMIC FINANCIAL PRODUCTS? MANAGEMENT NUR LAILI AB GHANI MOVING FORWARD IN BUSINESS 47 AMIRUDDIN ABDUL SHUKOR MEMAHAMI FASA KEMEROSOTAN 50 PRESTASI ELAK KEGAGALAN ORGANISASI KHAIRUL AKMALIAH ADHAM NUR SA’ADAH MUHAMAD NUR FAIDAH MOHAMAD ARIFF THE PUBLIC SERVICE OF THE FUTURE 53 JOHN ANTONY XAVIER TAPPING THE UNTAPPED - TACIT 55 KNOWLEDGE IN AN ORGANIZATION SYED UZAIR OTHMAN 63 iii EDITORIAL NOTE EDITORIAL Upon spending many personal and organizational resources, we often reminisce our past contributions towards achieving ADVISOR: organizational aims. Successful implementation and execution Dean UKM-GSB of business processes boost our confidence: we made the right CHIEF EDITOR: decisions about certain chosen practices. Celebration follows Ida Rosnita Ismail and legends are created. Little is known to many, there is a lurking ASSOCIATE EDITORS: danger awaiting unconsciously complacent businesses. Mary John Antony Xavier Parker Follet, the mother of modern management, had once Nasuha Nordin Rasidah Mohamad Said cautioned: if a problem has been solved, the method used to solve it probably will generate new problems. MANAGING EDITOR: Syed Uzair Othman This words of caution tell us that we need to move forward, EDITORIAL ADVISORY continuously. What is good at present may not be good in the COUNCIL: Othman Yong future. Best practices that we have now can be replaced easily, Low Soo Wah especially in today’s world. The constantly evolving external and Arawati Agus internal business environments put the pressure on organizations John Antony Xavier every single seconds. A change in customer demands, employees’ Fazli Idris needs, business processes, legal decision, government’s policies, DESIGN & PRODUCTION: technological improvement, or even platonic movement of the Muhammad Hafizdzul Ahmad earth requires a business to reconsider its strategic directions. Hence, no business should remain plateaued, and no business should become the yesterday’s news. MANAGEMENT We conclude that breaking the routine is hard but it keeps a business moving along with its growth. Against this background, SENIOR MANAGER: the third issue of Bangi Management Review includes articles Rohazaini Hasan focusing on the theme “Navigating the Future of Business”. In this SENIOR EXECUTIVE: issue, readers will find twenty-eight interesting articles covering Muhammad Aizuddin Saharudin a wide array of business and management issues. It includes SENIOR SOCIAL RESEARCH operations management, finance, accounting, human resource OFFICER: management, information technology, marketing, governance, Samruhaizad Samian @ Samion and general management. WEBMASTER: Mohd Fadzil Ramli We hope that readers will gain new knowledge and interesting MARKETING EXECUTIVE: insights from our contributors’ masterpieces. May be, the ideas Mohamad Safwan Asraff can be the impetus for both researchers and practitioners in creating a better path for the future of businesses. Guidelines For Authors Bangi Management Review (BMR) is a practitioner-oriented magazine owned by UKM-Graduate School of Business. BMR is aimed at sharing the research knowledge and best practices among scholars and practioners in Malaysia. BMR accepts submissions of approximately 1,200 words to 1,500 words from recognized authorites in their fields on topics and trends important to management education. All submissions will be reviewed by BMR’s Editorial Advisory Council. Publication decisions will be made within four weeks of submission. Accepted articles will be edited to conform to BMR’s format. BMR is published twice a year. We welcome your submissions, suggestions, and comments. Email us at [email protected] 1 CORPORATE FINANCE WHY DO SOME FINTECH STARTUPS FAIL? By Kashif Ibadullah Khan Welcome to the Despite evidence of the failure of a significant number of fintech startups, there is little interest to perform a post-mortem to disrupting world of find out what went wrong with their strategies and execution plans. Unlike other conventional industries, fintech startups are fintech! expected to deliver hyper-growth. Analysing failures of fintech startups offer compelling insights on factors that contribute to These startup companies have garnered attention and news by strategy failure. riding on the wave of innovations like blockchain, digital wallets, peer-to-peer transactions and distributed ledgers technologies. Scalability was not embedded in the business One may ask why there is such a hype around Fintech these days. model Fintech (financial technology) usually refers to startup companies that use technology to enhance financial products, services and There is nothing more important for a fintech than having clarity customer experience. For example, payment services were once about how it delivers and captures the value. The effectiveness an exclusive function of the bank. Today fintech’s electronic of the business model and the manner by which a fintech will wallet and peer-to-peer payment services are now available create value takes top priority in strategy formulation. everywhere, even to the unbanked population. Banking today is about moving bits and bytes from one computer server to The basic premise to start any successful startup is a great idea. another. This idea must be tried and tested before it becomes a viable product or service. A business model is the enabler of value The financial services industry has faced a disruption from creation and a fintech must address the ‘scalability’ equation in fintech startups; they are all ready to use the technology to the model. deliver innovative customer and service experience. They are lightweight, agile, risk-taking, scalable, carry no legacy baggage Incorporating scalability in the business model means a fintech and operate with build fast, fail fast and fail better operating must achieve profitable growth quickly. This has become one of model. the fundamental factors for investors in their decision-making. If a fintech is not scalable then it carries a strategic risk in business These companies are competing head-to-head for customers from day one. with established financial institutions. Venture capitalist-backed fintech startups raised 5.4 billion USD in the first quarter of 2018 Factors like capital adequacy and human resource expertise globally. The value of investments in worldwide fintech startups needed to generate incremental growth are vital for scalability. developing peer-to-peer payments and lending services have hit Scalability offers economies of scale and lowering of costs. 1.8 billion USD. Every dollar of revenue earned should cost less than that of the previous dollar. A transformation of the financial industry is in progress across the globe. In an attempt to shake off institutional complacency,
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