DEVELOPING STRATEGIC ENTREPRENEURSHIP FRAMEWORK FOR COOPERATIVE GROWTH IN MALAYSIA

Abstract

Strategic entrepreneurship is characterized by the simultaneous pursuit of opportunities and advantages, leading to firm growth. Unfortunately, cooperative entrepreneurial ventures demonstrate effectiveness in recognizing opportunities but contribute only 3 percent to Malaysia's GDP, falling short of the government's target of 10 percent set in the National Cooperative Policy (DKN) 2011-2020. This figure is notably lower compared to other countries, such as 8.6% in Vietnam, 9% in France, and 16.4% in Switzerland although they may face challenges in identifying new opportunities. Strategic entrepreneurship serves as a distinct and unique construct through which cooperatives can generate wealth. This construct involves key elements such as an entrepreneurial mindset, a culture centered around entrepreneurship, entrepreneurial leadership, strategic resource management, and the application of creativity to foster innovations. In this context, a model of strategic entrepreneurship is emulated from Ireland et al. (2003). Thus, this study aims to contribute significantly to the development of a model, grounded in practical insights, to guide successful cooperative growth strategies in Malaysia.