Exploring the Role of Strategic Innovation Management Practices in Transforming State-Owned Enterprises in Malaysia: A Focus on Kuala Lumpur
DOI:
https://doi.org/10.53819/81018102t4171Abstract
This study probed the critical role of strategic innovation management (SIM) practices in the transformation of state-owned enterprises (SOEs) in Kuala Lumpur, Malaysia. The examination focused on identifying and understanding the mechanisms and impacts of SIM practices within the context of SOEs. Malaysia's unique economic ecosystem, with a significant portion of its market dominated by SOEs, created a rich environment for this research. The adoption and implementation of SIM saw little research in this context previously, thus the study filled an essential gap in the literature. Through a mixed-method approach, the research delineated how strategic innovation initiatives have been instrumental in driving change and competitiveness in Malaysian SOEs. The findings revealed that effective application of SIM practices resulted in enhanced operational efficiency, financial performance, and overall competitiveness of SOEs. These outcomes were particularly prominent in sectors where innovation is paramount for success. The research also shed light on potential barriers that impede the successful implementation of SIM, highlighting areas that require policy interventions. In conclusion, the study underscores the importance of strategic innovation management as a critical catalyst for the transformation and growth of state-owned enterprises in Malaysia, offering valuable insights for policymakers, managers, and future research.
Keywords: Strategic Innovation Management, State-Owned Enterprises, Transformation, Operational Efficiency, Policy Interventions, Kuala Lumpur.
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