REGULATION & GOVERNANCE
Broadly, from report released in January 2019 by A.T. Kearney Inc., one of the World’s premier think tanks according to the University of Pennsylvania’s list of best for-profit think tanks, global economic outlook for the near period of 2019–2023 is under significant stress, reducing near-term growth prospects and heightening uncertainty about the medium-term outlook. However, the research maintains that emerging markets in Asia are expected to sustain robust growth in the medium term but states the escalated trade tension between United States and China will decelerate economic growth of the latter. Equally, positive but with signs of weakness is also developed markets of Asia, namely Australia, Japan and South Korea. Australia’s low wage growth may stifle consumption and government spending, while Japan and South Korea may be affected by the looming risks of tax imposition by US tariffs on automotive imports. Specifically, high technology markets are characterised by a high degree of technological innovation and short product life-cycles, it is widely assumed the long-run success of high technology firms depends on how well they “manage technology.” Malaysia has yet to become a major player in technology markets, but there is some aspect of this business that Malaysia can champion given the country strategic advantages like location, people, education level and language proficiency. Malaysia is prominent in the manufacturing of high technology products including electronics, automotive and pharmaceutical and; global business services (GBS) where at least 500 GBS companies are operating in Malaysia. One of the most important aspects in business is marketing.
Critical?” found out that the strongest determinant of financial performance in high technology markets is not R&D capability, but the interaction of marketing capability and R&D. They estimate firm-specific capabilities in high technology markets regarding marketing that also includes a higher marketing capability that enhances the firm’s ability to exploit its prior base of innovative technologies. Firms with a higher base of innovative technologies gain the most from their enhancement of marketing capability. In other words, marketing managers in firms that have the best track record for technological innovation have the strongest case to make for importance of marketing. Governmental Venture Capital (GVC) organisations in Malaysia have induced substantial investment to the tune of hundreds of millions or even billion ringgits over the past two decades in technology-based companies and, may want to take this finding to heart. Convergence of technology seems a major driving force towards a seamless user experience, greater emphasis is placed on product or services personalisation and localisation with markets driven significantly by the youth segment of the world population. This creates greater economic value where increased trade activities between countries promote international partnership on high technology products or services. In technological convergence, a cardinal example to convey the concept is that telephones, television, and computers began as separate and mostly unrelated technologies but have converged in many ways into interrelated parts of a telecommunication and media industry underpinned by common elements of digital electronics and software.
In a study conducted by the University of Chicago, titled “Success in High Technology Markets: Is Marketing Capability
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Malaysian Technology Strategic Outlook 2019/2020 Intergration of High Technology
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