Disaster Risk Management Strategies Among SMEs in Malaysia (S/O 14702)
This study aims to identify the knowledge gap and document the current coping strategies against the natural disaster risks among Micro, Small and Medium Size Enterprises (MSMEs) in Malaysia. A survey among manufacturing MSMEs’ owners was conducted in Kedah and Penang to obtain primary data for the...
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| Main Authors: | , , |
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| Format: | Monograph |
| Language: | English |
| Published: |
UUM
2021
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| Subjects: | |
| Online Access: | https://repo.uum.edu.my/id/eprint/31634/1/14702.pdf https://repo.uum.edu.my/id/eprint/31634/ |
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| Summary: | This study aims to identify the knowledge gap and document the current coping strategies against the natural disaster risks among Micro, Small and Medium Size Enterprises (MSMEs) in Malaysia. A survey among manufacturing MSMEs’ owners was conducted in Kedah and Penang to obtain primary data for the study. The study employed standard descriptive statistics such as frequency distribution, minimum and maximum value, and percentage to analyse the data. In addition, crosstab with Fisher’s Exact Test was used to compare the frequency distribution of two categorical (i.e. row and column) variables and to examine relationship between the variables. It was found that most of the MSMEs are having low awareness levels in the principles and risk management frameworks, risk financing methods and types of insurance. Based on the survey, several current coping strategies used by the respondents have been identified and documented. Among the measures to mitigate disaster risks are compliance with standard operating procedures (SOP), plan their supply chains and purchase insurance schemes. The findings also found that there are very low levels of awareness on the DRR programs and attraction to participate in such programs among MSMEs. Regarding the DRR resources, DRR finance instruments, reference materials and types of insurance, most of them are not aware of the existing guidelines/frameworks/strategies/concepts that are currently in-use for common reference in many countries. As the coping capacities matter, there are key issues such as lack of expertise and too costly/insufficient funds that potentially deter the implementation of preferred mitigation measures taken by MSMEs for protecting their businesses against the effect of any natural hazard. Finally, several policy recommendations were suggested for various stakeholders; policy makers, government agencies, SME business associations and MSME operators in the states of Kedah and Penang, respectively, based on the findings of this study |
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