How to start up business in Malaysia. Negotiation, communication and etiquette

Academic Paper from the year 2019 in the subject Business economics - Company formation, Business Plans, grade: A, , language: English, abstract: This paper is about how to start up business in Malaysia. It discusses why it is important to be knowledgeable about the way people communicate in a business context. How the protocols are applied differently to Malay, Chinese and Indian such as the way each race should be greeted and addressed. Furthermore, this study also discusses why it is also crucial for foreign businessmen to be knowledgeable of the culture and the way Malaysians communicate with each other. Which definitely will assist them to prevent any failures in businesses. Malaysia is situated in Southeast Asia which is one of the best countries in the world for foreigners to invest or set up a new business. As a foreigner who is planning to start or extend business in Malaysia, a few things need to take into account before you move forward. As Malaysia is a multicultural country where the different ethnic group has different types of norms, beliefs, customs, and culture which must not be hurt by any means. Malaysia is an emerging and diversified economic country. In 1990s, the economy of Malaysia leaps and bounds. Malaysia has become a prominent and diversified emerging industrial country in Asia and the world's emerging market economies. Tourism is the third largest source of foreign exchange earnings in Malaysia, knowledge economy services are also expand at the same time.