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Questions and Answers
What is the main objective of the Entrepreneurship Action Plan of Higher Education Institutions 2016–2020?
What is the main objective of the Entrepreneurship Action Plan of Higher Education Institutions 2016–2020?
Which document advocates for producing "holistic, entrepreneurial and balanced graduates"?
Which document advocates for producing "holistic, entrepreneurial and balanced graduates"?
What are some avenues being used to incorporate entrepreneurship into Malaysian development policy?
What are some avenues being used to incorporate entrepreneurship into Malaysian development policy?
What is the significance of entrepreneurship in facing economic uncertainties?
What is the significance of entrepreneurship in facing economic uncertainties?
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What is the primary reason for incorporating entrepreneurship into Malaysian development policy?
What is the primary reason for incorporating entrepreneurship into Malaysian development policy?
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What was a primary motivation for the establishment of the New Economic Policy (NEP)?
What was a primary motivation for the establishment of the New Economic Policy (NEP)?
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Which principle was introduced to promote unity and a common value system among Malaysians?
Which principle was introduced to promote unity and a common value system among Malaysians?
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What does the term 'Bumiputeras' refer to in the context of Malaysia?
What does the term 'Bumiputeras' refer to in the context of Malaysia?
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What is one of the objectives of the NEP's strategy to accelerate societal restructuring?
What is one of the objectives of the NEP's strategy to accelerate societal restructuring?
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What effect did the NEP have on Malay-Chinese tensions?
What effect did the NEP have on Malay-Chinese tensions?
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Which of the following best describes the focus of the NEP's employment restructuring?
Which of the following best describes the focus of the NEP's employment restructuring?
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What was a significant social issue arising from the economic progress in Malaysia?
What was a significant social issue arising from the economic progress in Malaysia?
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Which ethnic groups have been identified as being more economically advanced compared to the Bumiputeras?
Which ethnic groups have been identified as being more economically advanced compared to the Bumiputeras?
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What percentage of non-Malay equity ownership was achieved by 1990?
What percentage of non-Malay equity ownership was achieved by 1990?
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What is the Bumiputera Commercial and Industrial Community (BCIC)?
What is the Bumiputera Commercial and Industrial Community (BCIC)?
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What did the NEP seek to eliminate in Malaysian society?
What did the NEP seek to eliminate in Malaysian society?
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What was the mean monthly household income of non-Malays in 1990?
What was the mean monthly household income of non-Malays in 1990?
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What major event highlighted the fragility of Malaysia's pluralistic society in 1969?
What major event highlighted the fragility of Malaysia's pluralistic society in 1969?
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What was a key focus of the National Development Plan (NDP)?
What was a key focus of the National Development Plan (NDP)?
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What role did the Department of National Unity play in Malaysia after 1970?
What role did the Department of National Unity play in Malaysia after 1970?
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What purpose did the New Economic Policy (NEP) serve?
What purpose did the New Economic Policy (NEP) serve?
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How did the number of Bumiputera businesses compare to non-Bumiputera businesses by the end of the NDP period?
How did the number of Bumiputera businesses compare to non-Bumiputera businesses by the end of the NDP period?
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Which of the following strategies was NOT part of the NEP's objectives?
Which of the following strategies was NOT part of the NEP's objectives?
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What effect did the economic position of the Bumiputeras have on their social relationships?
What effect did the economic position of the Bumiputeras have on their social relationships?
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What was the incidence of poverty among Malaysians in 1999?
What was the incidence of poverty among Malaysians in 1999?
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What was the result of the racial conflict between Malays and Chinese in 1969?
What was the result of the racial conflict between Malays and Chinese in 1969?
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Which group primarily includes the Bumiputeras of Malaysia?
Which group primarily includes the Bumiputeras of Malaysia?
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What change occurred in the incidence of hard-core poverty from 1990 to 1999?
What change occurred in the incidence of hard-core poverty from 1990 to 1999?
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What was a perceived impact of the NEP by the non-Malay community?
What was a perceived impact of the NEP by the non-Malay community?
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What was the aim of the National Vision Policy (NVP) introduced in 2001?
What was the aim of the National Vision Policy (NVP) introduced in 2001?
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What was a specific goal of the National Vision Policy regarding Bumiputera participation?
What was a specific goal of the National Vision Policy regarding Bumiputera participation?
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Which principle is NOT a core element of the New Economic Model (NEM)?
Which principle is NOT a core element of the New Economic Model (NEM)?
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How did the proportion of Bumiputera in professional and technical employment categories change between 1990 and 2000?
How did the proportion of Bumiputera in professional and technical employment categories change between 1990 and 2000?
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What is one objective of the National Vision Policy focused on economic status?
What is one objective of the National Vision Policy focused on economic status?
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Which organization formulated the New Economic Model (NEM)?
Which organization formulated the New Economic Model (NEM)?
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What was one of the aims of the National Development Plan (NDP)?
What was one of the aims of the National Development Plan (NDP)?
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What outcome is associated with the NVP's focus on creating a knowledge-based society?
What outcome is associated with the NVP's focus on creating a knowledge-based society?
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What is a primary aim of the New Economic Model (NEM) for Malaysia by the year 2020?
What is a primary aim of the New Economic Model (NEM) for Malaysia by the year 2020?
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Which aspect is emphasized as crucial for achieving the objectives of the New Economic Model?
Which aspect is emphasized as crucial for achieving the objectives of the New Economic Model?
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How does the Malaysian government plan to support entrepreneurial growth?
How does the Malaysian government plan to support entrepreneurial growth?
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What initiative is the Ministry of Higher Education (MOHE) focusing on?
What initiative is the Ministry of Higher Education (MOHE) focusing on?
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What is an essential goal of the New Economic Model regarding the Malaysian economy?
What is an essential goal of the New Economic Model regarding the Malaysian economy?
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What is one of the support measures mentioned for young entrepreneurs?
What is one of the support measures mentioned for young entrepreneurs?
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What attribute is highlighted as essential for graduates in the context of entrepreneurship?
What attribute is highlighted as essential for graduates in the context of entrepreneurship?
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Which goal is NOT aligned with the New Economic Model's vision for Malaysia?
Which goal is NOT aligned with the New Economic Model's vision for Malaysia?
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Study Notes
Introduction to Entrepreneurship in Malaysia
- The book, "Introduction to Entrepreneurship," by Sodri Ariffin and Syahira Hamidon, covers entrepreneurship development in Malaysia.
- The text focuses on the historical and policy perspectives of entrepreneurial development in Malaysia.
Chapter 2 Objectives
- The chapter aims to introduce students to:
- The development of entrepreneurship in Malaysia.
- Various government supports and incentives for entrepreneurial activities.
- Malaysia's economic and entrepreneurship development history.
Learning Outcomes
- By the end of the chapter, students should be able to:
- Understand the historical perspective of entrepreneurial development in Malaysia.
- Analyze past and present Malaysian government policy on entrepreneurial development.
List of Topics
- Malaysian Progress after Independence
- The New Economic Policy (NEP)
- The National Development Plan (NDP)
- The National Vision Policy (NVP)
- The New Economic Model (NEM)
- Entrepreneurship in Higher Education
Introduction
- Understanding the historical context and rationale behind government policies related to entrepreneurship is crucial for understanding Malaysia's economic history and challenges.
- This understanding enables Malaysians to contribute to nation-building.
Malaysian Progress After Independence
- Malaysia gained independence from the British in 1957.
- Post-independence, while progress was made socially and economically, benefits were not evenly distributed across ethnic groups.
- Indigenous populations (Bumiputeras), including Malays, Kadazans, Ibans, faced economic disadvantages compared to the Chinese and Indian communities.
- The disparity in economic opportunity created dissatisfaction and mistrust amongst ethnic groups, culminating in the 1969 racial riots.
Malaysian Progress After Independence (continued)
- This led to the realization that economic issues needed urgent attention.
- Consequently, a severe social problem required government intervention.
The New Economic Policy (NEP)
- The NEP, introduced in 1971, aimed to address socio-economic imbalances, particularly poverty and racial disparities.
- The policy intended to correct economic imbalances within Malaysian society.
- One strategy was to eradicate poverty, raise income levels, and increase employment opportunities for all Malaysians, regardless of their ethnicity.
The New Economic Policy (NEP) (continued)
- Further, the policy sought to restructure Malaysian society in terms of race and wealth distribution.
- This included an effort to promote a more equitable distribution of economic resources and opportunities.
- The NEP also introduced Rukunegara, a national ideology aimed at fostering unity and common values transcending ethnic and socio-economic differences.
The New Economic Policy (NEP) (continued)
- Despite efforts to reduce inequality, some argue that NEP remains discriminatory towards non-Malay communities.
- However, Non-Malays, particularly the Chinese, benefited from poverty eradication initiatives in 1970.
- Data on income growth for these groups suggests a positive correlation with economic reform.
The National Development Plan (NDP)
- Introduced in 1991, the plan aimed to tackle poverty and improve employment opportunities.
- An emphasis on addressing hard-core poverty was a key aspect of this plan.
- The plan also focused on developing a more active Bumiputera Commercial and Industrial Community (BCIC).
The National Development Plan (NDP) (continued)
- Despite an increase in Bumiputera businesses, these remained smaller compared to non-Bumiputera businesses.
- Poverty and hard-core poverty levels decreased during the NDP period. This period saw significant improvements in employment participation of Bumiputeras, though they tended to be in lower-paying roles.
The National Vision Policy (NVP)
- Introduced in 2001, the NVP aimed to create greater harmony and inclusiveness among different ethnic groups.
- The policy also targeted to maximize the economic participation of all groups and strengthen national unity.
The National Vision Policy (NVP) (continued)
- The NVP sought to shift the country towards a more knowledge-based economy.
- This also involved addressing the needs of indigenous people in Sabah and Sarawak.
- Furthermore, the program tried to improve the financial situation of the lowest 30% income earners.
The New Economic Model (NEM)
- Launched in 2010, the NEM aimed to turn Malaysia into a high-income, inclusive, and sustainable developed nation by 2020.
- Its core principles included high income, inclusiveness, and sustainability.
- The model also envisioned a "market-led" economy with well-governance, regional integration, entrepreneurship, and innovation.
The New Economic Model (NEM) (continued)
- One of the most important objectives for NEM is support for the growth of entrepreneurship and SME (small and medium sized enterprises).
- Special programs, dedicated funds, incubation facilities, advisory services, and training are intended to foster this growth.
Entrepreneurship in Higher Education
- The Malaysian government aims to cultivate a more entrepreneurial mindset among young people.
- This is seen by the introduction of entrepreneurship programs and support for graduates in higher education.
- The Ministry of Higher Education (MOHE) has initiated initiatives that encourage graduates to be entrepreneurs.
Entrepreneurship in Higher Education (continued)
- The Malaysia Education Blueprint has been designed to help generate more entrepreneurial graduates.
- The ministry also implemented entrepreneurship action plans to enhance entrepreneurship.
Summary
- Malaysian government policy on entrepreneurship is multifaceted, employing different avenues including technology, education, and media.
- Policies aim to shape a more positive attitude toward business, promote growth, drive economic development, foster social good, and address economic uncertainties.
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Description
This quiz explores the key components of the Entrepreneurship Action Plan of Higher Education Institutions from 2016 to 2020, and its relevance in producing well-rounded graduates. It also highlights the significance of entrepreneurship in economic development and policies in Malaysia.
