In our competitive market economy, to earn a profit is the ultimate motive and purpose of the commercial enterprise.
Undeniably, nothing is free in the world, thus profit motive can also be construed as the only underlying reason why a taxpayer or company participates in business activities of any kind. It must be determined during the business transactions to determine the deductibility of any expenses involved.
Profit is something all the businessmen especially foreign transnational companies strive for when running business. It is a byproduct of satisfying the needs of their customers. While profit is needed to stay in business, so long as is a business, every effort must be taken into consideration to satisfy the needs of the customers. When the customers are happy and exhibiting that they are well taking care, thus it will result profits.
Most charitable organizations believe that the private sector is greedy, often than not, these charitable organizations are unproductive and financially dependable on private sector.
Political interference in enforcing corporate social responsibility could jeopolized the normal function of the market and rejected by efficient profit oriented company including Malay-controlled companies.
It is justified by the joint research paper titled “Does race matter in getting an interview? A field experiment of hiring discrimination in Peninsular Malaysia”, by Universiti Malaya (UM) senior lecturer in development studies Dr Lee Hwok Aun and Universiti Kebangsaan Malaysia (UKM) research fellow Dr Muhammed Abdul Khalid.
They found that in the engineering industry, Malays were most likely to be rejected by foreign-controlled companies, followed by Malay-controlled companies and lastly Chinese-controlled firms. They noted that the racial discrimination was sharper in engineering jobs than in the accounting or finance sector.
Ironically, it’s claimed by some academicians and economists that it’s the outcome and negative impact caused by the University intake system.
It’s reported that Malaysia’s mushrooming local higher education institutions churned out a total 184,581 graduates last year, according to the latest statistics released on the Higher Education Ministry’s website. Of that figure, 44,391 people or 24 per cent are unemployed. The Najib administration has set aside some RM500 million in its Budget 2013 to spend on jobless youths to make them marketable.
The question remains: Why 24 per cent of the local graduates are unmarketable?