Explain How Globalization Could Present Both Opportunities and Threats to Entrepreneurs in Malaysia?

NUR ZULAIHA BINTI REDZUAN

62212215317

(ME50)

1. Explain how globalization could present both opportunities and threats to entrepreneurs in Malaysia? Use examples where appropriate (5%)

The world is moving away from self-contained national economies toward an interdependent, integrated global economic system. Globalization refers to the shift toward a more integrated and interdependent world economy. Globalisation also a strategy in which organisation treats the entire world or major regions of it  domain for conducting business. It includes management decisions about business activities for the whole world.  The government will also ensure that its policies are friendly to knowledge creation and utilisation. Will embark on sociological change, to root knowledge in our culture. The private sector must also play its part. Companies must be more willing to invest in their employees, as well as to invest in research and development (R&D) and in new technology. Need to see more knowledge intensive activities across the country. Entrepreneurs successfully created new technologies, job opportunities, creting a competitive environment and improve people’s living standards in a country. Entrepreneurship continue to be developed as one of the national development agenda that is essential for balanced economic development. The changing world environment with unpredictable challenges, the ability to recognize opportunity is different. Only those who have the exprience and encourage ti be potential to see new opportuniities and resources needed to enable these opportunities are exploited. So, entreprenuers who want to explore the international market must changed their minds and think globally in order to apply different strategies for countries with different social, political and economic.

1. Elaborate on how the concept of ENTREPRENEURSHIP ECOSYSTEM could help governments to be more effective in developing the entrepreneurship sector in their respective countries? (5%)

The entrepreneurship ecosystem refers to the elements individuals, organizations or institutions  outside the individual entrepreneur that are conducive to, or inhibitive of, the choice of a person to become an entrepreneur, or the probabilities of his or her success following launch. In entrepreneurship ecosytem have six type can help government to be more effective such as a culture that rewards innovation, creativity, and experimentation, policies and leadership that provide regulatory and capital support, availability of appropriate finance including microloans, private equity, and public capital, quality human capital that includes both skilled and unskilled workers from home and abroad, venture friendly markets for products, distribution channels, and entrepreneur networks and a range of institutional infrastructure supports including incubation centers, legal, and accounting advisors. The entrepreneurial ecosystem approach therefore offers a distinctive perspective on the clustering of economic activity that is either ignored or underplayed in previous studies. First, the explicit focus is on entrepreneurial activity and especially on high growth firms. Second, the emphasis is on local and regional environments and the conditions required to generate and support ambitious entrepreneurship. Third, it emphasises the interactions between framework conditions and local/regional geographical environments. And because of this distinctive perspective the policy agenda that follows is different from that of conventional ‘economic development’, ‘innovation’ and ‘cluster’ policies, emphasising a much more facilitative approach to assistance.