INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following statements is incorrect about New Economic Policy (NEP) objective and strategies?
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The NEP was formulated to eradicate poverty by raising income levels and increasing employment opportunities for all Malaysians, irrespective of race.
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The NEP was formulated to accelerate the process of restructuring Malaysian society to correct economic imbalances, so as to reduce and eventually to eliminate the identification of race by economic function.
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NEP strategies included focusing on restructuring of racial composition in employment and on the restructuring of wealth ownership.
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The NEP also focused on the creation of a Malay Commercial and Industrial Community, later known as Bumiputera Commercial and Industrial Community (BCIC).
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The NEP was formulated to spearhead Malaysia’s progress in high-technology industries.
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Explanation:
Detailed explanation-1: -The correct answer is Human resources. Economic growth means more output.
Detailed explanation-2: -Analyzing the industry is not a stage of the entrepreneurial process.
Detailed explanation-3: -Nationality of a person doesn’t affect him being an entrepreneur. The factors like Education applies to the knowledge of an entrepreneur, the working experience of an entrepreneur helps in the workings of the business, most importantly the personal values of achievement and ethics helps in growth of an entrepreneur.
Detailed explanation-4: -Surprisingly, growth of sales is generally not considered a critical factor in assessing new ventures.
There is 1 question to complete.