Twelve years ago Malaysian Export Academy - MEA- put forth a call to action to increase the Malaysian exporters’ ability to find a ‘Way Forward in International Trade’. We are glad that this vision, which seemed gainsay at one time , is now taking shape and will create an impact in times to come.
AS IT IS
An epidemic persists today. We are all obsessed with globalization and in this midst in rebound the World Trade volume continues to grow at an ultra-rapid pace. A recent review on regional integration efforts, transit, trade facilitation, and exports found the consulting firm McKenzie & Company estimating international trade reaching $70 trillion by 2025.
These interpretations express a climate of robust excitement, optimism and the pioneering of new products and services . In its positive tone, international trade is growing intensely with an upturn in manufacturing output, communication infrastructure and expanded oppotunites in logistics and maritime business.
Without doubt when done correctly, cross-border trade switches and models organizations to realize significant opportunities to rapidly work up untapped and new markets, expand strategic sourcing and generate higher-margin business models.
Countless organizations are expanding internationally and while some organizations surge ahead and reap strong benefits in the global economy and are achieving high performance, others grow more slowly or fall behind in relative or even absolute terms. In both cases, company performance directly collate with the maturity and strength of its people talent.
Successful organizations around the world know that it takes dynamic and talented people to run a global business. Needless to say expanding or re-directing activity in order to participate in the new opportunities necessitates an assessment of talent needs. Success by this measure belongs equally to the organizations themselves as they become aware of the importance of trade to their growth performance (the demand side) and to the development of their human capital (the supply side).
THE BUSINESS CHALLENGE
To put crudely and honestly in today's terms, the exact details of import, export and international regulations are rather whimsical. They are long, complicated and are constantly changing and expanding their reach. Fast breaking import export regulatory requirements for international cargo and enforcement policy changes have intensified the pressure on organizations to respond quickly and responsibly. Too much is at stake to do otherwise.
Benefits of International Trade can be reaped further, when occurring ‘upheavals’ such as in documenting processes, training of internal departments, record-keeping, developing documentation for customers and partners, and responding to ad hoc trade compliance issues can be managed and maintained by the aptness , preparedness and skill set of the organization’s workforce .
MALAYSIAN EXPORT ACADEMY There is plenty of evidence that the lack of right talent and skills in a business actively limits the organization’s ability to grow. Failures in talent management are an ongoing source of pain for executives in modern organizations. Over the past, talent management practices have by and large been dysfunctional, leading corporations to lurch from surpluses of talent to shortfalls to surpluses and back again.
As organizations become increasingly diverse and their boundaries flexible and amorphous, their competitive advantage in the current global economy depends primarily on their people's skills, talent, and educational attainment. It depends highly on smart, sophisticated people who are technologically literate, globally astute, and operationally agile.
Organizations must understand their business processes, recognize their vulnerabilities, and be conversant with their regulatory requirements, hence programs of organizational change and renewal must also be undertaken to keep firms competitive. This requires ongoing training for all employees to succeed in today's global marketplace
The main thrust a business can ward its competition with is its people talent.
This is where MEA comes in. We offer a rapid but a measured approach
MEA At A Glance
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