Topic > Quantitative Surveyors of Malaysia - 2925

According to the Boards of Quantitative Surveyors Malaysia (BQSM), currently, there are 345 registered Quantity Surveyors (QS) consultancy firms in Malaysia (BQSM, 2014). To remain competitive in the challenging construction industry, QS companies must adopt the best strategy suited to them. Without proper planning, insufficient projects and compensation will lead to bad cash flow and will eventually be eliminated. The size of the company certainly influences the choice of strategy used (Abidin, Nor'aini Yusof and Adros, 2010). These companies may have a different strategic orientation and influence the strategic planning process. The planning process will therefore have an impact on the company's decision in policy formulation and management style. Four types of categories are used to distinguish these companies, which are “Prospector”, “Defender”, “Analyser” and “Reactor” type. “Prospector” companies tend to be entrepreneurial, innovative and oriented towards new opportunities, while “defender” companies tend to defend the existing market. “Analyser” companies are the hybrid of the “Prospector” and “Defender” types and can have a relatively more stable and dynamic environment. The last type is the “Reactor” company which has short-term planning and continuously changes according to the latest needs (Hassan, 2010). In Malaysia, business sizes can be divided into two major groups, which are small medium enterprises (SMEs) and large corporations. There are various definitions of SMEs that are widely used in Malaysia. While different organizations have different ways of defining SMEs, most typically include annual revenue generated, number of full-time employees, and/or total available funds. A widely used definition of an SME is that of the Small and Medium Industry Development Corps...... half of the document ...... especially for new graduates it can help reduce errors and prevent serious legal problems. A mentor without providing any feedback is not an effective mentor, and the mentor-mentee relationship is considered a failure (Hoffmeister, Cigularov, Sampson, Rosecrance, & Chen, 2011). Every mentoring relationship is unique in itself as different people will have different encounters and experiences. The nature of the work can be the same, i.e. as a cost consultant; however, other varying factors, such as the company's working culture, work environment, technological advancement, and human resources, will change the need for mentoring. The lessons learned must be able to be applied effectively to provide useful and practical advice to students. The mentoring process and procedure needs to be updated from time to time to maintain relevance and accountability (Karallis & Sandelands, 2009).