Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)

Abstract

Facing the Covid-19 Crisis: A Study of Challenges and Strategies of Consulting Firms of Quantity Surveyors in Malaysia

Author(s): Zulkiflee Abdul-Samad, Wan Ainsya Sofia Wan-Ahmad-Sofian, Mahanim Hanid, Hafez Salleh, Siti Suhana Judi, Aimi Sara Ismail

The COVID-19 crisis is widely regarded as the most severe worldwide health crisis of the century, affecting the economy and our everyday life. It has primarily posed a problem to the construction industry, notably consulting businesses that provide Quantity Surveying (QS) services. Some of the QS consultancy firms’ challenges is the wellbeing of the employees and employers, financial issues, and the sustainability of their business during the crisis. Therefore, QS firms must plan for a proper organisational strategy to face these issues. The main objective of this paper is to identify the implementation of strategic management by local firms during the COVID-19 crisis. This paper used a Quantitative approach which involved a total of 393 local QS firms. The response rate is 32 percent. As a result, several COVID-19 challenges, strategies, and advantages were identified and listed. Also, an analysis of Friedman’s Test was used in this study. Through this analysis, this paper found that the strategies used has a significant impact on the benefits. This main finding suggests that strategic planning does have a beneficial impact on the practised QS firms in this crisis. This paper contributes to understanding how strategic planning helps QS firms adjust to the COVID-19 crisis and influences more QS firms to adopt strategic management.

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