Vijay Eswaran’s Unconventional Approach to Business: Why It Works
Vijay Eswaran is a Malaysian entrepreneur and CEO of QI Group of Companies. He has been recognized for his achievements by many organizations, including Ernst & Young, which named him one of the “Top 50 Asian Entrepreneurs”.
Vijay Eswaran also advocates for a diverse workforce and has spoken extensively on the subject, citing that a diverse workforce can increase profitability by 15%. However, his concern with racial inclusivity extends far beyond mere profitability and will be key to making Malaysia an economic powerhouse again. He knows that we must find ways to develop skillsets in areas with shortages – and it is up to industry leaders like him to make this happen or risk being left behind globally.
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The Digital Revolution: Eswaran sees the digital revolution as a direct attack on countries that rely on traditional industry, particularly developing nations like Malaysia. He states that we must be careful with what technology we adopt and focus on adopting technologies that give us an edge over the rest of the world, such as those developed locally by Malaysians. To do this, he believes that Malaysia must become more competitive in attracting foreign talent – something he says his company does every year to stay ahead of our global competitors.
Transportation: Vijay Eswaran also believes that the government must proactively provide infrastructure for businesses to thrive, particularly in the transportation department. According to Eswaran, we need to catch up to other countries in this regard. For example, we do not have an efficient rail system, which is a direct comparison to Singapore. With the Singaporean population only one-fifth of ours and a smaller surface area than Penang alone, it is clear that investment in transportation infrastructure will pay off immensely for Malaysia.
Mentorship: Finally, Eswaran stresses that millennials tend to use mentorship as an excuse to avoid taking the initiative with their careers. He believes that we should not let them hide behind excuses like this. Instead, he encourages individuals to take the initiative instead of waiting for mentorship from others.