retrenchment notice

Topics: Economic growth, Entrepreneurship, Joseph Schumpeter Pages: 3 (895 words) Published: April 6, 2014
5.IMPACT OF MALAYSIAN ENTREPRENUERSHIP

According to Peter Drucker , entrepreneurship is defined as ‘a systematic innovation, which consists in the purposeful and organized search for changes, and it is the systematic analysis of the opportunities such changes might offer for economic and social innovation. In Malaysian environment, there are increase numbers of entrepreneurs from various categories and size of business. Entrepreneurship related to decrease of poverty, job creation and economy development. Entrepreneurship activity was bringing positive impact Malaysia environment in economy development, society and education.

Entrepreneurship Aids the Economy Development
Economy development or growth in country was measure by Gross Domestic Product (GDP), Table 1 showed Malaysia GDP.

CountryCategoryDateActualHighestLowestUnitFrequently
MalaysiaGDP1960-2012303.53303.53242.00USD BillionYearly Table 1: Malaysia GDP
Sources: World Bank Group

The Gross Domestic Product (GDP) in Malaysia was worth 303.53 billion US dollars in 2012. The GDP value of Malaysia represents 0.49 percent of the world economy. GDP in Malaysia is reported by the World Bank Group. From 1960 until 2012, Malaysia GDP averaged 65.6 USD Billion reaching an all time high of 303.5 USD Billion in December of 2012 and a record low of 2.4 USD Billion in December of 1961. The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.

Entrepreneurship was lead to economy development through taxes that company pay to government, offering job to society so less unemployment rate and reduction of poverty and increase living standard. An example, Tan Sri Bukhari is most successful entrepreneur in Malaysia. He was start up a business and create a job to people. Besides...
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