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  • Essay / Quantity Surveyors Malaysia - 2925

    According to the Boards of Quantity Surveyors Malaysia (BQSM), there are currently 345 registered Quantity Surveyors (QS) consultancies in Malaysia (BQSM, 2014). In order to remain competitive in the challenging construction industry, QS companies must adopt the best strategy that suits them. Without proper planning, insufficient projects and compensation will result in poor cash flow and eventually be eliminated. The size of the company undoubtedly affects the choice of strategy used (Abidin, Nor'aini Yusof and Adros, 2010). These companies may have a different strategic orientation and affect the strategic planning process. The planning process will then have an impact on the company's decision on policy formulation and management style. Four types of categories are used to differentiate these companies, which are “Prospector”, “Defender”, “Analyzer” and “Reactor” type. “Prospector” companies tend to be entrepreneurial, innovative, and oriented toward new opportunities, while “defender” companies tend to defend the existing market. “Analyzer” companies are a hybrid of the “prospector” and “defender” types and may have a relatively more stable and dynamic environment. The last type is “Reactor” companies which have short-term planning and continually evolve according to the latest needs (Hassan, 2010). In Malaysia, business size can be divided into two broad groups, namely small and medium enterprises (SMEs) and large enterprises. There are different definitions of SMEs widely used in Malaysia. Although different organizations have different ways of defining SME, most typically include annual revenue generated, number of full-time employees, and/or total funds available. A widely used definition of SME is that of the Small and Medium Industries Development Corpo...... middle of paper ...... particularly for new graduates, it can help reduce errors and prevent serious legal problems. A mentor who does not provide feedback is not an effective mentor and the mentor-mentee relationship is considered a failure (Hoffmeister, Cigularov, Sampson, Rosecrance, & Chen, 2011). Each mentoring relationship is unique in itself, as different people will have different encounters and experiences. The nature of the job can be the same, namely that of a cost consultant; Yet other factors, such as company work culture, work environment, technological advancements, and human resources, which vary, will change the need for mentoring. Lessons learned must be able to be applied effectively to provide useful and practical advice to mentees. The mentoring process and procedure should be updated from time to time to maintain its relevance and accountability (Karallis & Sandelands, 2009).