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Malaysia has shifted from a labor-intensive, agriculture-based economy since its independence in 1957 to a knowledge and innovation-based economy. Human capital development (HCD) is a key enabler for driving and sustaining Malaysia's socioeconomic growth. The education and training system is the main platform for HCD intervention. To sustain and achieve goals, long-term survival, competitive advantage, and sustainability, the workforce is optimized through comprehensive HCD interventions to provide the necessary knowledge, skills, and competencies needed to work effectively in a rapidly changing and complex environment. Numerous efforts have been made by the government to ensure that the education and training system has the capacity to enhance the quality and availability of intellectual and skilled human capital to support the transition toward knowledge-intensive activities, sustain economic growth, and compete in the global market. The country's development plans and policies as well as the economic development which lead toward a knowledge-based economy with a knowledge-based workforce have charted out clear transformation journeys for the development of the human capital ecosystem. This chapter presents an overview of the landscape of HCD in Malaysia. Relevant reports, plans, policies, and strategies to strengthen human capital through education and training is reviewed. Finally, a few issues and challenges that Malaysia experiences are discussed.

Malaysian public and private universities have faced unprecedented challenges due to multiple government policies in the short and medium term – coupled with economic uncertainty, budget cuts, and the entrepreneurial university (EU) agenda. This pressure is aimed to both public and private universities in accordance with the third mission of the Malaysian Education Development Plan 2015–2025 and ranking agencies by effectively engaging with the community and business, generating income in the process of tackling fundraising. The purpose of this study is to fill that gap by exploring the perspectives of those who are part of the Entrepreneurship Architecture implementation, as intermediaries of knowledge exchange and the impact of interaction by embedding Artificial Intelligence (AI) in achieving the mission of Entrepreneurship University by the government. Therefore, the main objective of this study is to develop a new model for internal parties in public universities as a guide for policy development and strategies to achieve the EU agenda. The Entrepreneurship Architecture Model will be used to identify the existing determinants, the AI infrastructure, and how the demographic factors, e.g., staff and related universities, support the model.

Malaysian small and medium-sized enterprises (SMEs) are facing human capital development issues due to unskilled employees. The institutes of Malaysian education are providing ineffective science, technology, engineering, and mathematics (STEM) education which are generating unskilled graduates as a future workforce. The low capability of Malaysian graduates affect the performance of Malaysian SMEs. Therefore, the main purpose of this study is to examine the effect of STEM education in solving the human capital development issues for the enhancement of Malaysian SMEs performance. The current literature explores the ineffective system of STEM education for Malaysian graduates which result in human capital development issues in Malaysian SMEs. The curriculum of Malaysian education institutions plays a pivotal role in making the university graduates skillful since a teacher should teach the syllabus according to the need of the national curriculum and the student must learn practical knowledge for the sake of the professional employee in future. Hence, this study identified the significance of properly provided STEM education to deal with the human capital development issues faced by Malaysian SMEs. Effective STEM education is important in generating the human capital as it makes the university graduates skilled and capable which enable them to successfully meet the industry needs in future. Likewise, through the development of human capital, the performance of Malaysian SMEs could be improved.

The purpose of this study is to examine the key challenges currently prevalent in the Machinery and Equipment (M&E) sector of Malaysia and to offer an integrative Industry 4.0 strategic roadmap. The Environmental Scan 2016 and 2018 provides a basis for the identification of the challenges in the M&E sector of Malaysia. The study further investigates the challenges by analyzing the responses of four major stakeholders in a Focus Group Discussion. The findings reveal that the M&E sector suffers from very low automation adoption. This study is among the first few to analyze the challenges in the M&E sector and lay out a strategic roadmap encompassing the role of each stakeholder at every phase of the transition toward Industry 4.0. The proposed method of transitioning through targeted incentive schemes will help academics and practitioners in developing concrete and workable action plans to conduct the transition process.

Malaysia is one of the developing countries which is progressing in terms of infrastructural facilities, but the country is facing a problem of having very low growth in population and this led to the frequent migration of workers with language proficiency to come to the country as foreign workers, language proficiency implications among which is causing injury to workers in the construction especially foreigners as they are getting it difficult to understand instruction during operations, safety guides and interpreting safety warning signs due to their low language proficiency. Because of this, the research aimed to reduce the rate of accident happening among the foreign workers and, therefore, the research sets three objectives: the research identified the common types of accidents faced by foreign workers due to language proficiency in construction sites, the research also investigated the extent to which language proficiency is affecting foreign workers and lastly provides an effective communication method that will help to minimise the rate of these types of accidents. The research found that language proficiency is causing several types of accidents that comes with different injury cases ranging from non-severe, severe and fatal once of about 44% of the total accident cases happening in the Malaysian construction industries.

This chapter describes the journey of four social entrepreneurs in the Malaysian landscape. The objectives of the case study are to provide a description of the social entrepreneurship development in Malaysia and to illustrate how social entrepreneurs start their ventures, and mobilise change within this landscape. Primary data was collected through a survey and indepth interviews. Four social entrepreneurs participated in this study. The findings show that the Malaysian social entrepreneurship landscape is thriving and supportive, giving many opportunities for individuals to establish social enterprises. The indepth interviews revealed that the social entrepreneurs were motivated to start their social enterprises after being exposed to various socio-economic problems of diverse communities. They leveraged on their strength, both technical and business to create social enterprises. Digitalisation is a major enabler for the social enterprises where ICT tools are used to create solutions to optimise socio-economic impact. Training, coaching and mentoring are also widely used to empower the target beneficiaries. All the social entrepreneurs are deeply aware of the sustainable developmental goals (SDGs) and have strategically incorporated the relevant SDGs into their business model to guide impact measurement. This case study contributes to the field by providing insights on the what drives the ‘selfless side’ of an individual to start a social enterprise, and how do social enterprises leverage on available resources to grow and sustain their ventures. It also provides insights on how to pilot and scale social enterprises.

Interdisciplinary higher education is becoming more important in learning across subject boundaries. This is occurring in global, national and institutional contexts. In Malaysia, interdisciplinarity is clear in the country's National Higher Education Strategic Plan (2007). While varying interpretations of interdisciplinary learning and teaching exist, there are also commonalities. These common elements address complex problems and focus questions by drawing on the disciplines. They also integrate insights and produce new understandings of complex problems. In this chapter, 21 senior administrators (deans, deputy deans and program chairs) from three public universities in Malaysia were surveyed, and 10 respondents were interviewed to determine their views on their use of the interdisciplinary approach: that is, their level of awareness, their perceptions of interdisciplinarity, and their self-reported level of knowledge of what interdisciplinarity means. The findings showed that 76% of the respondents were aware of interdisciplinarity, and that most respondents had a ‘moderately sufficient’ level of self-reported knowledge about the application of interdisciplinarity in current courses. The interview sessions also revealed that respondents interpreted the interdisciplinary approach in different ways. The implications of the results from this exploratory study suggest that public universities in Malaysia have various obstacles to deal with before effective interdisciplinary learning and teaching can be implemented.

The study critically evaluates the theory of International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Using the extensive structured review of literature using the Scopus database tool, the study reviewed 79 articles, and in particular the topic-related 57 articles were analysed. Nine journals contribute to 51% of articles (29 of 57 articles). In particular, the three journals published 15 articles: Critical Perspectives on Accounting (7), Accounting, Organizations and Society (4), and Journal of Applied Accounting Research (4). In total, 83% (47 of 57) of the articles were published 2009–2018. A total of 1,168 citations were found from 45 articles since 12 articles were without citations. The highest cited authors were Ball (2006) – 410 citations, Kothari, Ramanna, and Skinner (2010) – 135 citations, and Napier (1989) – 85 citations. In particular, five theories have been used widely: institutional theory (13), accounting theory (6), agency theory (3), positive accounting theory (3), and process theory (2). Future studies’ focus could be on theory implications in IFRS adoption/implementation studies in a country or a group of countries’ experience. Future studies could also focus on various theories rather depending on a single theory (i.e. institutional theory).