Launch of PRIMA research in Malaysia

 

26 September 2001

Shamsir Jasani Grant Thornton, the Malaysian member of Grant Thornton International has today announced its collaboration with the national management organisation, the Malaysian Institute of Management (MIM) to conduct a nationwide research project in Malaysia.

Entitled “The Family & The Business”, this survey aims to address the classic and contemporary issues faced by family-owned businesses in Malaysia today. This research is part of a unique service product by Grant Thornton, known as the People and Relationship Issues in Management (PRIMA) which explores the issues and attitudes facing family-run and owner-managed businesses around the world. By identifying the overlaps and potential conflicts between family, ownership and management goals, Grant Thornton helps find solutions which are tailored to the owner-manager's overall needs and circumstances.

According to Shamsir Jasani Grant Thornton's Managing Partner, Dato' N. K. Jasani, global competition and technology are among the factors that threaten the viability of many family businesses in Malaysia. Adding to the pressure is the gloomy possibility facing indebted companies, whose family founders may lose control as a result of rehabilitation or restructuring.

“At Grant Thornton, we take a unique approach to understand the complexity and special circumstances surrounding family-owned businesses. For these companies, the issues are complex; commercial goals will need to be balanced against personal and family considerations. One of the purposes of strategic planning, therefore, is to define these various objectives, and identify how they can be reconciled.”

Grant Thornton has over 600 offices in more than 100 countries worldwide. Its PRIMA programme has met with much success in Europe and the Americas, with its first Asian launch being Japan. It was recently introduced in the Asia Pacific region, with Thailand as the first country to use the service. This service continues to expand around the globe and by the end of this year, an estimated 30 countries will be involved in the international academic research into family businesses which underpins PRIMA.

The PRIMA research is an ambitious project and this is the first time that research has been undertaken into the attitudes, dynamics and concerns of family-run businesses in a variety of cultures and markets worldwide. All participating firms conduct their own research project in their respective countries with a recognised academic body.

“With the trend of globalisation fast descending onto the business environment in Malaysia as a result of the coming about of AFTA and the WTO liberalisation of trade, this research is timely to gain further understanding of the complex issues concerning family-owned business,” said Dr Tarcisius Chin, the CEO of the Malaysian Institute of Management.

Being the commissioned research body, the Malaysian Institute of Management will collect, compile and analyse the responses from the survey. The findings are expected to be ready by the end of the year. These results will be published in aggregate and compared with other countries in Asia Pacific as well as those from other major parts of the world. The survey was officially launched on 24 September 2001, with thousands of questionnaires sent out to family-owned businesses throughout the nation.

In Malaysia, family-run businesses which have developed into middle-sized companies and in some cases conglomerates have been the backbone of Malaysia's economic growth. However, these companies have faced the difficult decision of attempting to balance between the needs of the family and those of the business.

“As business advisers, we are committed to looking beyond the basic business needs of the operation to the people who are at the core of the business itself, and develop strategies to manage the transition with minimal disruption to both the business and the family structure,” said Dato' N. K. Jasani.

Any family-run businesses who have not received the questionnaires but wish to participate in this survey are welcome to contact:

The Research and Publications Unit
Malaysian Institute of Management
Management House, 227 Jalan Ampang
50250 Kuala Lumpur
Fax: 03-2164 3224
Email: respubl@mim.edu