QUESTION 4 a) Give FIVE (5) reasons for preparing a business plan. (5 Marks) b) Business registration is compulsory for all entrepreneurs. There are four types of business entities available for startups in Malaysia. The fifth option, cooperative, is more likely for a group that has the same interest and would like to enjoy a certain degree of profit or benefits. Each of these business forms has distinct characteristics, advantages and disadvantages, differing scope of business activities, registration requirements and capital requirements as well as registration procedures. Choosing the best business entity will depend on the degree of commitment of the (s) and business goals. From the summary above, briefly discuss the most common THREE (3) types of business entities in Malaysia. (9 Marks) c) Eskandar plans to open a new business. You are required to advise him on the various licenses that has to apply in order to start the business. Identify TWO (2) of those licenses and the relevant agencies to provide them. (2 Marks) QUESTION 5 a) Define management. Briefly explain by using the FOUR (4) function of management on how entrepreneur can benefit from those functions in managing their daily business. (8 Marks) b) In preparing the organization plan, it is important include the organizational structure of the business organization. Briefly explain the various types of organizational (6 Marks)
