The role of Malaysian palm oil industry in the Malaysian sustainable economic development
In traditional business philosophy, companies are largely motivated by three determinants in order to maintain their competitiveness: product quality, cost and product delivery. The efficiency dimension of the company is determined by producing a product maintaining its quality, with less cost and...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Institute of the Malay World and Civilization, Universiti Kebangsaan Malaysia
2017
|
| Online Access: | http://journalarticle.ukm.my/12420/1/IMAN-2017-05SI3-02.pdf http://journalarticle.ukm.my/12420/ http://www.ukm.my/jatma/jilid-5terbitan-khas-bil-1/ |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | In traditional business philosophy, companies are largely motivated by three determinants in order to maintain their
competitiveness: product quality, cost and product delivery. The efficiency dimension of the company is determined by
producing a product maintaining its quality, with less cost and distributing it using efficient delivery system. Regardless
of social and environmental issues, companies were used to focus on financial and economic aspects of the business in
order to determine the growth of their profitability and market share. However, in the last few decades, especially as
of the United Nations Conference on Environment and Development (UNCED) or the Earth Summit in 1992, business
companies began to incorporate environmental issues as one of determinant factors for their profitability and market
share. This study assesses the role of Malaysian palm oil industry in the Malaysian sustainable economic development.
Utilizing secondary data, the paper uses the concept of national income accounting approach to show the contribution
of Malaysian palm oil industry in the aggregate economy. The study shows that the Malaysian palm oil industry is
playing a significant role in sustaining Malaysian economic development via high production and cleaner environment.
Keywords: Green economy; sustainable development; sustainable oil palm; palm oil industry |
|---|