Personality Characteristics Hampering the New Economic Models


  • Ms. Sulastini
  • Mr. Hairul
  • Ismi Rajiani Faculty of Technology Management and Technopreneurship Universiti Teknikal Malaysia, Melaka
  • Edna Buyong


entrepreneurs, risk-taking propensity, tolerance for ambiguity, internal locus of control, innovativeness, independence


Malaysia is under economic reform shifting  from New Economic Policy to New Economic Model.  Unlike the previous model, The New Economic Model implicitly will lead the Malays to market based-economy. Conditioned this way, all ethnics forming 1 Malaysia will compete. Drawing on cultural approach, characteristics of South East Asian Malays (hereafter referred to as Bumiputera) are identified which may account for selected personality characteristics being significant predictors of entrepreneurial spirit. Although numerous personality characteristics have been associated with entrepreneurs, this study is limited to; risk-taking propensity, tolerance for ambiguity, internal locus of control, innovativeness, and independence. Generally, these characteristics are not prevalent in Malaysian Bumiputera’s culture. Lack of these characteristics may hamper the effectiveness of the rhetoric of entrepreneurship  as expressed in the language of New Economic Model.



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How to Cite

Sulastini, M., Hairul, M., Rajiani, I., & Buyong, E. (2014). Personality Characteristics Hampering the New Economic Models. Asian Journal of Business and Management, 2(2). Retrieved from