1.0 INTRODUCTION
Entrepreneurship
is the development of a business from the ground up, than it coming up with an
idea and turning it into a profitable business or process of designing, launching
and runing a new business. Entrepreneurship also is the journey of opportunity
exploration and risk management to create value for profit and social good.
An
entrepreneur is someone who can take any idea, whether it be a product or
service, and have the skill set, will and courage to take axtreme risk to do
whatever it takes to turn that concept into reality and not only bring it to
market, but make it a viable product or service that people want.
Most
people think being an entrepreneur is all about coming up with an idea, but
that’s just one part. It’s also important to know right form the start how you
will reach interested customers in an effective and affordable way.
The
Malaysian Government launched 1 Malysia Entrepreneur, or 1MET, in 2013. It is
an intative by the govermant of Malaysia to enable entrepreneurs from all
segments of society to successfully start and grow their own business by
leveraging public & private sector resources.
However,
there is a high failure rate amongst start-up businesses. Research shows that a
majority of entrepreneurs lack any form of training in entrepreneurship.
Amongst the common reasons cited for failure are intense competition, lack of
customers, and lack of knowledge and must compete in the red ocean, further
reducing their chances of success as they compete against stronger incumbents.
Entrepreneurship is fabled to be black box and arandom act resuting from
some combination of genius, luck, or trial and error. But, what if
entrepreneurship could be cultivated through creative education, and failure
minimized through the use of proven methodologies and frameworks.
2.0 Biography
Tan Sri Syed Mokhtar Al-Bukhary
Tan Sri Syed
Mokhtar Al-Bukhary was born in 1951 into a middle class family. His father is
in the cow breeding business. His mother is a homemaker. He was not born with a
silver spoon in his mouth. Due to poverty, he cannot afford education, thus he
complete his secondary education without furthering it into university level.
He starts to help his father in his business, by managing the account. He helps
his mother during his free time by selling agricultural product and also roti
canai before leaving for school. Life was a bed of roses for Syed Mokhtar
during his childhood.
He is a private man who does not like to show off
his luxurious life. He is easily approached by everyone. For him, status is not
something important in his life. There is time when he is up and there is time
when he is down. Lifestyle is just like a disease for him that can detroiter
people. Besides, Syed Mokhtar is a strong Muslim, thus he always hold strongly
to the Muslim principal of giving out charity with a sincere heart. He helps
the needy and even built mosques across the country. It shows his integrity and
reliability traits.
His hardship in 1951 has propelled him to the success that
he have today. He and his father sells grocery to their neighbor around their
neighborhood. As business grows, they expend from one state to the next, and
they event imported cow from the neighboring country, Thailand to sell it in
the local market. His down to earth and humbleness makes it easier for him to
cooperate with business man from other races. He take over a business that
seems to fail and turn it around until he earn the profit.
There's no secret for success. Syed Mokhtar is only
a human being that created by god but the difference is his way of getting
mature. He believes that whoever will success if they really work hard for it.
It may take some time. There will no short cut for success. He knows his own
strengths and weaknesses. He would ask for help from the other people when he
is unable to do it. He go through the hard way but that is the right way. He
has nothing at the beginning. However he will learn what he does not know, asks
help from the others. He does not feel ashamed for that because he is not
stealing. He works on his own. The attitude of being lazy and shame should be
changed. He thinks that a person has to be patience and put more effort in
order to run a business successfully. He keeps on searching for opportunities
and business so that he can keep on helping the others to excel. He is not
doing this solely for himself but for everyone. For him, God will only help
those who are willing to work hard. Determination, hardworking and never give
up easily are his keys in achieving success.
Based
on our example of entrepreneur, we have describe five traits of entrepreneurial
that he demonstrates as entrepreneur that assist he to be a successful in their
venture.
2.1 Proactive
Proactive means the ability to see what we can do and struggle to
get and make it true. This is one of the good habit that we can describe about
Tan Sri Syed Mokhtar. He very smart to use any initiative that he has. For an
example, he was taking an initiative to repair our national mosque which is the
most visited placed in Malaysia by traveler. He was making it more cheerful and
luminous. Based on what he have done, automatically our social community will
know him very well and at the same time promoted him and also his company or
product.
2.2 Visionary
Visionary means someone who have target to achieve based on target
and goal that he have. Someone who willing to do anything and brave enough as
long as his goal is achieves and his mission is completed. Tan Sri Syed Mokhtar
Al Bukhari also is a visionary one. He have proven it through a Yayasan
al-Bukhary that he established with a big and meaningful objective. This
foundation was established on Mac 1996 as a charity group which is helps the
poor, support the development of art and culture in Islam and also to encourage
the understanding among civilization. The other objective of this foundation is
to encourage the valuable of Islamic relation. This foundation has divide into
two group. The first one is work for a charity and the other one is to make
sure the flow of the donation in every company that Tan Sri Syed Mokhtar was
in. Until now, Yayasan al-Bukhary was expend more than 300 million for religion
activities, civilization and education. Other than that Yayasan al-Bukhary also
support a poor student. Such as support poor Muslim student from every ASEAN
country to study in Malaysia. As a proof we can see there are many association
under Yayasan al-Bukhari was built and was help many student and also poor
people in this country and also the other country and his vision to help them
was achieve very well.
2.3 Observant
Entrepreneur in this 21st century must grab any chance and also
know how to analysis, formulates and take and action towards any chance that
they have. Based on Tan Sri Syed Mokhtar sl-Bukhary, he is very smart in to
take an action and grab the chance that he have. For example, he has include
himself in project of privatization Johor Port Sdn Bhd and Johor Tenggara Oil
Palm Sdn Bhd.
Trough of Johor
Port Sdn Bhd, he was involved in Tanjung Pelepas Port project. He have success
to show or introduce that port and also was attract two international
shipping company, which is Maersk Sealand from Denmark and Evergreen Marine
from Taiwan to move from Singapore to Tanjung Pelepas , On this side, we can
see Tan Sri Mokhtar is someone who have capable to see any chance and know to
arrange the future. Other than that, Tan Sri Mokthar was put his abilities in
every company that have potential to get profit. For an example, he have invest
in popular rice company, BERNAS. His ability to see the chance in every company
is his key to success until he declare to be among the richest in Malaysia.
2.4 Failure is
an option
Failure is a word that, understandably, carries a negative
connotation. Nobody wants to fail, really. But failure, if we are
doing anything worthwhile, is inevitable. What's important is to plan for
failure, learn for it, try to avoid damage and do the best to recover
gracefully. For an example, Tan Sri Mokhtar Al-Bukhary is someone who never
knew about failure in his life and he always learn from mistakes. He always be
careful in his business. He responsible on what he was doing. He always thinks
that wealth hat we get come from responsible. He said, he must do kindness
although it small but it bless. He also didn’t selfish. Success and wealth is
belongs to Allah and use it in the right way. He never gives up, strong to wake
up from mistakes.
Don’t make religion is the place to us to rely when we in trouble.
I act according to the needs of affected but continue to strive to make every
problem resolved as soon as possible. When he has a problem, he can solve the
problem with wise and calm. He did not give up under any circumstances.
He said, to develop a strong business need to be patient and work.
He also advises young entrepreneurs do not want to succeed quickly.
Every effort is absolutely necessary through a phase of adversity, challenges
and so on. He took off his own example that starts from the bottom with the
help of his father sold the cattle and buffalo in the village before reaching
the stage now. If we go through the hard way, then we will find a way to
appreciate and love. Usually when a breakthrough short, too easy for the
business we do it crashed. "If we go through the hard way, then we will
find a way to appreciate and love," he explained briefly.
2.5 Open
risk taker
An individual or business that tends to behave in a way that can potentially cause
physical harm or financial loss. but might also present
an opportunity for a rewarding outcome. Most business types that thrive on innovation will encourage a risk taker mentality among management to help support the creative process in other staff members. For an example, Tan Sri Mokhtar always found the ways to explore
and try something new in entrepreneurship. For example in shipping,
agriculture, clothing, private projects and many more. Among the
initiative undertaken to finance the poor Muslim students from across ASEAN to
study in Malaysia. In 2000, Yayasan al-Bukhary give donated a total of RM775
million to the Oxford Centre for Islamic Studies, which is a famous center of
Islamic learning in the world. Yayasan al-Bukhary is also currently assisting
the Institute of Educational Development (MIED) in the project for establishing
the Institute of Medicine, Science and Technology Asia (AIMST) in Sungai
Petani, Kedah.
Besides that, Yayasan al-Bukhary involved in projects initiated by
non-Muslims are also highlighted. Although, Yayasan al-Bukhary has more emphasis
on charitable projects that characterized Islam, it still contributes to
projects run by non-Muslim organizations. For example, Yayasan al-Bukhary
contributed RM1 million for Langkawi Project, which was initiated by the MCA
project to raise funds for carrying out educational projects in rural areas and
also provide scholarships to needy students.
Tan Sri Syed Mokhtar Al Bukhary was a man who never knew the
meaning of failure and he always learn from any mistakes. He is also a prudent
business mainly about the purchase and acquisition of a stake in a company and
project. He seems to think of the interests of the public, especially the
indigenous before making any important decisions in business. He has a superior
personalized exemplary of all parties.
3.0 Trait
3.1 Observant
In the fourth edition of the Oxford Dictionary, the
term if the observant means that the ability to foresee or the activity of
anticipating what will happen or needed in the future. By having this
capability, an individual can make a perfect plan for the long term.
In the way to become a successful
entrepreneur, one of the elements that should be available in their personally
is to have observant. The entrepreneur who knows how to plan, analyse,
formulate and take each open door as an opportunity is the entrepreneurs who
have observant. This is an essential esteem as an entrepreneur because it
allows them to considerably further to develop its business. The advantage of
entrepreneurs that have this feature is their ability to predict things before
they happen whether the matter will give benefits or misfortunes on them.
Besides that, observant also is a situation
that can benefit or bring success to an emerging or established to be taken
immediately. Chances are approaching a person in a state of vague and uncertain.
Someone who is competent and willing only to grabbing the opportunity that
exists in front of him. Observant slow captured will fall into the hands of
others.
Every business starts from
the opportunities that can be identified and taken the opportunity to be
developed. The existence of business opportunities to offer goods in a given
market depends on changes and trends in environmental factors there are include
economic, socio-cultural, political, legal, technological and competitive
level.
For example, Tan Sri Dato’
Shahril Shamsuddin is a Malaysian aged 59, He is an oil and gas entrepreneur
was appointed as President and Chief Executive Officer (“CEO”) for Sapura
Kencana Petroleum. In year 2009, he won the Malaysia Ernst & Young
Entrepreneur of the Year Award.
Shahril start to take over
the reins from his father when he was 30
year old. He trust that to achieve better success because it has turned out to
be a piece of his character now. He makes his father as his tutor in the
business. Shahril’s father who worked hard with one goal, which is to give education
to their children, and it turned into the catalyst for him to resemble his dad. Shahril has
guided his company into range of new businesses and projects in several
countries included Malaysia, Australia, Brazil, Mexico, Vietnam, China, West
Africa and others.
Sapura Kencana Company has a market capitalization of Rm22 billion today
with assets worth Rm15billion and staff of 11000 employees. However Shahril
decided does not to build a giant company. He started off simply with build an
organization that was technically very strong and provide accorded value to
customers.
Shahril was a far-sighted and observant people who would like to build
up a huge organization but no quality. He more concentrate on the quality of
work embraced by its individuals. Shahril and his group member gather and think
about the services which is haven’t or not offered in Malaysia and elimination the idea what services are
offered in Malaysia. Toward the eng of nineties, they realize there are almost
no company oil and gas services provider, while the country is an oil producer.
Shahril get the opportunity to put together
a team and filling that gap. While many company were very interested in IT,
they quitted that area and went into oil and gas. In that time, not many people
understood the business and field so it become a juggernaut of doing things.
Shahril was very observant because he decide quit of the field of IT and
ultimately choose the field of oil and gas which he think has the potential to
grow.
In the end, SapuraKencana has has able to grow faster due to the
relationship of the field of oil and gas with a particular party. SapuraKencana
became a largest market in Brazil and able to done the task because it has a
good work record. Shahril and his team have make sure no mistake and continue
working hard to strengthen its position and get more contract.
3.2 Open culture
The meaning of open culture is a concept about
which knowledge should be freely, uninhibitedly and growth must come from the
developing world, change or advance the work officially existing on the
partnership or in the cooperation, without being border to the protection of
the law of knowledge property. In a business connection, an entrepreneur needs
to acknowledge remote societies and accept foreign cultures.
In this era, entrepreneurs must be an open
culture. An entrepreneur who has an open
culture is someone who can accept other cultures other than that she understand
and always ready to accept something new. Entrepreneurs are willing to accept
something new habit will be more successful than others. Entrepreneurs are
always thinking of something new and have creative minds and innovative.
Entrepreneurs can also detect the entrepreneurial opportunities that exist in
society. Entrepreneurs can also gain more business through its own idea pleased
to accept the opinions of others.
Martin Winterkorn (born at 24 May 1947), the
Chief Executive Officer of Volkswagen in German since 2007. It also the main
company of the Volkswagen Group and former chairman of the supervisory board of
Audi and Porsche Automobile Holding SE. He is the chairman of management of the
Volkswagen Group subsidiary Audi AG. In 2007, he succeeded Bernd Pischetsrieder
as CEO of Volkswagen.
As a chairman of Volkswagen, Martin Winterkorn
always interest and pay attention with people, be that consumer, his client,
supplier and his employees. Martin said that as a success entrepreneur, open
culture is a fundamental to him to pay attention and always consideration to
the culture in which those people live and work. But that as it may, this goes
individual personal interest. Culture is by a wide margin sustainable of
advantage we have in this business today. Due to culture is the hardest thing
to duplicate, competitor can imitate product and match cost overnight however
culture takes energy, commitment and years to build. The open culture is a
process work both ways, it can be advantages for a company but if can’t wisely
apply the concept in the business it also come with disadvantages. If a strong
culture can g about as a defensive shield for a business when difficulties are
out of control, a weak or incoherent
culture can just simply prompt decay from the inside.
As an open culture entrepreneur, Martin
realize that business will live and incredible by how motivated, inspired and
committed to his employees. An agencies of car, it was similar like all service
business, are just structures loaded with people who are more or less good at
what they do than their rivals. Therefore, he settled on a cognizant decision
to make them as their greatest need, to change the way of work and this implied
making an open culture. For Martin, the meaning of open is philosophy of
collective creativity and aggregate obligation. They tried to destroy the
traditional hierarchy to encourage talent, creativity and did away with
sign-off procedures which is grow a company with freely and out the box with
using another culture.
Furthermore, one of the benefit of building an open culture in
Volkswagen is developed a truly diverse team. Nowadays, in the advertising
industry there are still struggles with the issue of diverse gender inequality,
this is important in the culture of social. In a company, creativity always is
the lifeblood of work. Martin allow people to set their own agenda and try to
attract new and diverse range of talent. They work hard to break the mould also
included women to work hard and really hard to create a culture.
Volkswagen today official group
is comprised of three women and five men and buck the industry by having more
female in senior management than men. It is about making a culture that is
attractive and accessible to a various scope of the best talent in Volkswagen.
This shows that Martin Winterkorn has a very open culture entrepreneur in
carrying out his responsibilities as a successful entrepreneur to take care
women’s right and creativity using open culture to grow his company become
better.
3.3 Outcome oriented
Outcome oriented is focus the mind acts on the
effect and received result. As an outcome oriented entrepreneur will put effort
and energy to achieve continued in different approaches to encourage further
develop them. Entrepreneur more concern and interest in the final outcome
rather that going through a process. From numerous points of view it really is
great. That is an honourable thing while entrepreneur it as long as desired
result and that the procedure has integrity. It does not matter of the process
how to get the result, but entrepreneur more focus on the last result. One of
the way entrepreneur will attempt to market and develop their business
internationally. Likewise, entrepreneur will diversify and broaden their
product or good.
An entrepreneur who has outcome oriented is
Dato’ Jimmy Choo Yeang Keat. Jimmy Choo
was born on 15 November 1948 is a Malaysian fashion shoe designer based in
London, England. Jimmy Choo now is a citizen of United Kingdom. He was born in Penang, Malaysia. He was founder of Jimmy Choo Ltd which is
handmade particular women’s shoes and men’s shoes. His father was opening shoes
shop and his father taught him to make shoes, Jimmy Choo made his first shoe
when he was 11 years old. Due to his father also a shoes maker so he gained a
lots of techniques in making shoes from his father.
He studies in London with course about
manufacture of footwear and fashion. After graduating, he opened a shoes store
by rented a shop which in front of the abandoned hospital. He worked hard for
four years, and until he coverage fashion design by Vogue, which is famous in
the British fashion magazine. After 4 years, Jimmy Choo design shoe is one of
the favourite to Princess Diana and has bought his design around the year 1990.
Start from there, Jimmy Choo name immediately popular and jumped on the
international stage. Brand of Jimmy Choo has been classify with style, luxury
and really as well as the extreme popular of artists around the world in todoy.
A pair of Jimmy Choo Brand women’s shoes can cost around thousands of US
dollars. Although his shoes very expensive but still many famous people have
booked his shoes.
Jimmy Choo is a very hardworking and outcome
oriented entrepreneur due to no matter how difficult to maintain his company in
the starting point but he never give up and look at the result believe all the
effort he contribute will get the result. He outcome oriented don’t look in the
short term and put his sign far look at the long term and put his effort hard
and get the pay back in the future result and finally his brand shoes became
one of the favourite brand to Princess Diana and bring his brand on the
international stage. Moreover, Jimmy expanded his company in the US and also
opened two stores in New York and Beverly International Hills. When Jimmy Choo
started earning retail location in the City the expansion has been stopped.
There are 167 Jimmy Choo’s stores in 35 countries in the wide range. Jimmy Choo
became a partner who create the vision goal and one of the most valuable luxury
brands in the world.
In conclusion, the result showed that Jimmy
Choo is an outcome oriented entrepreneur who has managed to set up his own
company with the result from what he contribute with his own effort. In the way
to become a successful entrepreneur, Jimmy Choo faced many challenges before.
In today world, brand of Jimmy Choo became one of the popular luxury brands in
the fashion world which is appealing to the masses.
4.0 Failure is an option
Failure is not the opposite of
success, while failure is part of our success. Everyone say that if you never
meet the failure, you will never get success in the future. Not everyone can
accept the failure, some of them may give up on their works just because of the
failures. What we should do is learn
from the mistakes as some experiences then moving on to our target. We should
seek for the failures, but we shouldn’t avoid it either. This is because when
we choose to avoid it means that we are not trying. We should use the
possibility of failure as a motivator to prepare all the possibilities. If we
are prepared for failure as an option, then we won’t end up in the gutter
because we will be vigilant and flexible while still working toward our
business goals. There are so many entrepreneurs faced failure before but
finally get success now.
One of the entrepreneurs is Walt
Disney. Walt Disney also known as Walter Elias Disney was born in December 5,
1905, in Hermosa section of Chicago, Illinois. Disney had three brothers and
one sister. They moved from Chicago to
Missouri and finally settled in Kansas City when Walt in nine years old. In the
Kansas City, Disney worked in Kansas newspaper company but finally got fired due
to lack of creativity and imagination. In 1921, Walt Disney created a animation
scene in Kansas City called ‘Laugh-O-Grams’. This cartoon quite popular caused
Walt able to create a studio and hired some employees which were Harman's
brother Hugh and Iwerks. They created a cartoon which called Alice in
Cartoonland which was a series seven-minute fairy tales that combined
the live action and animation. Company’s
profit can’t unable to pay the employee’s salaries. Finally, the company
burdened with debt, and Disney was forced to declare bankruptcy.
After experience the bankruptcy,
Disney and his brother move to Hollywood and built a company called ‘Disney’s
Brother Studio’ there. Iwerks draw a successful rabbit cartoon called Oswald
the Lucky Rabbit, distributed by Universal Pictures and this made him
became a popular figure. In February 1928, the renewal contract for Oswald, some said that Charles Mintz had stolen the
right of Oswald while some said that Walt Disney knew that Universal owned the
Oswald character. But Walt was surprised that his animators being signed by
Mintz to contracts except Iwerks. Disney developed another cartoon which called
Mickey Mouse in 1928 with the use of silent cartoon entitled Plane Crazy. He
made the first Mickey debut in Steamboat Willie which premiered at the Colony
Theatre in New York.
Walt
Disney had won 22 Academy Awards and get four honorary Academy Awards from a total of 59 nominations. He is
one of the successful entrepreneur which won’t give up easily although faced a
lot of failures. He came from the hard times and get the important lessons and events, which would
serve him later. All this things make him grew up and get succeeded.
4.1 Networked
Networked is one of the important traits
for a successful entrepreneur to achieve his or her career goal. Networked is a
group of people use for interconnected to each other which can provide useful
information to each other, provide mutual assistance and also update the latest
news from them. For example, if you are a sales representative, you may ask
from your customer for the personal details and also introduce them about your
products. Other than that, networked is the best way and also easiest way to
connect with your families, friends, business partners, neighbour, employees
and whom you always frequently contact.
If
you have networked for your business, you can develop a lot of opportunities
and also enlarge your business range. Networking is a structure plan to know
more people who will do business with you or introduce you to those who will.
By this opportunity, we can learn how to structure the industry or firm by
following forum or talk about business by Multi-Level Marketing (MLM). We can
gain a lot of benefits if we generate the business networking. For examples, it
can increase your interpersonal confident, increase opportunities and
connection of business. By attending more networking events, you will be dared
to talk with more people and even though he or she was stranger. You will
increase your own confident if you do more this.
We
have to be proactive if we need to network our business. We need to put more
effort in our business like do something specific each week that is focused on
networking for business growth. If we need to success our business, firstly we
need to some plans about our business, commit to it, learn network skills and
execute our plan. We can ourselves some questions: What do I want to achieve?
How many leads (prospects) do I want per month? Where do my customers and
prospects go to network? What business organizations would benefit my business?
How can I build my image and my business's image? What would I like to
volunteer to do in the community? This will help us to understand our business
plan, focus on it and face those challenges. Sure that this will makes our
business success one day.
Get
to know the co-founder of Instagram, Kevin Systrom, he is an American
entrepreneur, a computer programmer and CEO of Instagram. He with Mike Krieger
launched Instagram in San Francisco on October 6, 2010. Instagram got 100,000
users in their first week, and sold it for $1 billion less than two years
later. Kevin Systrom once said entrepreneurs should not be afraid to have
simple solutions to simple problems.
Kevin
does not use the biggest employees for building up Instagram. The success of
Instagram is by having the best people working on it and having the group or
system of people in place. Kevin surrounds with people who willing to share
their ideas, giving an opinion. He also knows what the users of Instagram want
by observing their behaviour. This shows that Kevin Systrom only uses the
network to build up his career and business.
4.2 Proactive
There were many unexpected
challenges that we will meet in our business. What we can prepare for
controlling all the challenges that we will face it. A business should have
system that allows us to detect all the problems and viruses of the company in
advance. These systems must be always updated, have flexibility to adjust the
new challenges and opportunities in a shifting business landscape.
There are some ways to become a most
proactive people. Firstly, be a solution-focused can lead you to become a
successful business leader. There are too many problems in a company, if you
are trained to solve problems quickly, it won’t cause us to waste our money.
Focus the final outcome that we want and find out the solutions. Next, be
consistent when doing something. We can’t stop making progress of one thing
while we need to continue it until we success. Doing the right things will move
us to further down the path to success.
Mark
Zuckerberg, the founder of Facebook is one world best-known of a proactive
entrepreneur. “Make things as simple as possible, but not simpler.” Is one of
the favourite sentence of Zuckerberg which make him willing to go further than
others have and do things others won’t did. He always do what had to be done to
build his company.
As a
proactive entrepreneur, Zuckerberg was clear about his mission which are
"Facebook's mission is to give people the power to share and make the
world more open and connected." and saw it through by a combination of
hard work, passion, and the courage to dream big. Although there are several
big companies were highly valued his ability in creating software and try to
hire him before he graduate, but he rejected all the attractive offers and
start his own brand social. Finally, with his future ability, he grant a big
success and become the youngest entrepreneurs in history.
Zuckerberg
also adapt situation quickly such as he caved in to public opinion, giving
users more control over their privacy when he faced growing criticism over
privacy allegations. Besides, he knows when to guide policy and when to give up
control. This all has made Facebook be a network created in part with the help
of user interaction.
5.0 Open Risk Taker
Risk taker is an individual or
business that tends to show that can potentially cause physical harm or
financial loss, but might also present an opportunity for a rewarding outcome.
The Malaysia’s richest entrepreneur,
Robert Kuok Hock Nien (also known as The Sugar King of Asia) is an example for
this trait. He started his own business by founding Kuok Brothers Company when
he was 26 years old. During one of the board meeting, he bravely proposed the
shareholder to invest all their money in the sugar refinery business which
causing an uproar in the meeting because in that time, no ones in Malaysia had
been engaged in that industry before. His action was considered risky by others
shareholder but eventually the sugar refineries business had been successful
controlled 80 percent of sugar market of the country.
Besides that, Mr. Robert Kuok also
invested in hospitality industry which he built a hotel called Shangri-La. He
took risk to invest the hotel where at that time many people were more
interested in trading instead of invested in real estate or hotel. Plus, he
invested the hotel in China in year 1983 where China then was began in the
fifth year of reform. Since China was newly reform, the tourist facilities
especially the toilet was poor causing few people will travel to China and this
may lead him to lose his business. However, China become one of the most
prosperous country in tourism industry now.
Moreover, Mr. Robert Kuok and then
Ministry of Foreign Trade invested US$500 million to build the China World
Trade Center in Beijing in the year 1984 and it was considered the largest
investment plan implemented by foreign parties in China. It was also considered
as a risky decision because many people did not think it was a good idea to
invest in such environment at that time. And now, the building has successful
attract Mobil, HSBC, Toyota as well as global 500 companies settled in the
office due to its advantageous geographical location and modern facilities.
At last, Robert Kuok said that he
barely to bankrupt because he too brave to keep two hundred thousand tons of
sugar in May of 1963 for preparation in future market as he believed the market
would grow. Unexpectedly, the market not only stagnant but also fell sharply in
July and August. However, at the end of August the typhoon hit and damaged most
sugar cane farm in Cuba and saved him from being bankrupt. He revealed it when
he was interviewed with CCTV “Dialogue” on 5th Jun 2011. He also
said that: “there are risk in every business; if you are not bold enough to
grab on the first or next opportunities, then you shall be a poor person
forever” in the said interview.
Robert Kuok is now ranking 110 in
the world’s richest person with $9.4 billion fortune according to Forbes
Magazine 2015.
5.1 Visionary
Visionary defined as a person who has the ability to image how a
country, society, industry which would develop in the future and to plan in a
right way. Put it in another way, a vision is the
ability to see what others cannot see. The visionary entrepreneur is able to
see exactly what his or her business is going to look like in every detail.
This entrepreneurial trait is
suitable apply to Lei Jun. He is founder, chairman and Chief Executive Officer
of a mobile phone Xiao Mi. He was just over forty years old when he set up Xiao
Mi in 2009. His vision is to make his mobile brand which is Xiao Mi to become
the first global smartphone within five to ten years. Xiao Mi set up less than
five years so far but became the first choice in the Chinese market two years
after it established and three years later became the third choice in the
global market.
In fact, Lei Jun has been in
research of mobile internet over past five years. Those years, Lei Jun only
using the smartphone instead of using computer because he wanted to see the
possibilities if the mobile phone could replace the computer. He noted that
over the past few years, the entire mobile phone industry is Moore's Law
category. "Chip doubling every eighteen months basically, double the
number. And once solved these three problems which are hardware configuration,
input and output, battery problem, the phone will leapfrogged computer”, he
said.
In order to achieve his vision, he
created a phone that has high quality and multiple function as same as Apple or
Samsung but relatively the price is cheaper than former so that everyone can
own a smartphone that is high quality with cheaper price. It’s target actually
is young and highly educated wish to buy but cannot afford the expensive
smartphone. He wants from top to bankers down to undergraduates could afford it
and like the smartphone.
For reduce the overhead, Lei Jun
take direct online marketing strategy instead of taking intermediaries to
distribute its product and also do not do any advertising to promote the
product. The company also will collect the recommendation of its royal fans
about the design and features and publish updated to meet ever-increasing
demands of fans every Friday in the internet.
Lei Jun think that smart Ehome is a
substantial part of our development and he is going to make his product could
act as a center that can connect all the devices. He believed that household
appliances will be equipped with those smart ideas in the near future and the
phone has become the most convenient control center when the time comes.
Lastly, he also mentioned wireless
internet, future of the world is bound to be ‘software + hardware + services’
triathlon-style competition. In fact, Lei Jun had founded Joyo net and sold to
Amazon with $75 million high-priced in 2000 and he also an investor in Vancl,
his old subordinate founded one whereby help him distribute the product that is
why he said Xiao Mi is ready for the competition.
5.2 Team Oriented
Team oriented is one of the most effective ways
that the team member able to generate ideas and solutions to solve problem. At
the same time, communication plays a very important role among the team members
in a team oriented. This is because that good communication between team
members not only can accelerate the process of doing something but also can
prevent disputes between team members and indirectly build a harmonious working
environment. Businesses are not built by one person only but requires
contribution from team members to achieve success in the businesses.
Examples of entrepreneurs who have the team
orientation is Jack Ma or Ma Yun. Jack Ma is a Chinese businessman who
graduated from the institute Hangzhou and he operates the largest e-commerce in
China called Alibaba. He has set up the Alibaba when Internet has not yet
become a trend in society. Leadership that existed in Jack Ma has caused him
success to persuade 17 of his friend to set up the Alibaba. It is clearly
evident show that entrepreneurs who have the vision and mission will make the
right decision in terms of consideration of the challenges ahead. Jack Ma's
have the quality of leadership that make him take the opportunities to build up
to the Alibaba group and its sales reached 240 million dollars worldwide.
Furthermore, Jack Ma have the qualities of initiative and responsibility. He
teaches 17 friends always put the customer at the first followed by the
employee or employees and ultimately is shareholder. This is because there are
no shareholders who are satisfied when there are a lot of dissatisfied
customers. Successful entrepreneurs will be responsible for the attitude and
behavior that made by them.
The other example that can be seen the quality
of teamwork orientation is Amway co-founder Jay Van Andel and Richard De Vos.
In 1949, Van Andel and DeVos has been running a direct sales business as a
distributor of a food supplement called Nutrilite. Nutrilite is provide the
health products that rich in vitamins and nutrients and needed by the human
body. It can be seen that Jay Van Andel and Richard De Vos take the
opportunities when they found the people at that time adopt a healthy
lifestyle. In 1959, "Amway Sales Corporation" was established. At the
same time, they continue to expand their business by adding products that are
in high demand in the community such as cleanser as "Cleaner Organic
Liquids", cosmetic as "Artistry" and home care products which
are "i-cook" and "Atmosphere". Amway has achieved a very
successful under the contribution of Jay Van Andel and Richard De Vos and able
to grow from home care products to the world’s leading market of health and
beauty. Therefore, the demand of Amway products is higher make the company
Amway offered the more of employment opportunities to people who interest about
direct-selling enterprise. Amway has become a multi-national direct-selling of
the health products, cosmetic and home care product and it was found that more
than 3 million people around the world have involved in the direct selling
enterprise of Amway. The features of entrepreneurs which are Jay Van Andel and
Richard De Vos make their responsible to cooperated when doing the systematic
planning to take the opportunity in market. They have an awareness that the
orientation team were played an important role to achieve the success.
6.0 CONCLUSION
In
conclusion, entrepreneurship is the development of a business from the ground
up, than it coming up with an idea and turning it into a profitable business or
process of designing, launching and runing a new business. Entrepreneurship
also is the journey of opportunity exploration and risk management to create
value for profit and social good. For full assignment, we are explain about biography
Tan Sri Syed Mokhtar Al-Bukhary, Trait, Failure is an option, and open risk
taker. For point of Biography Tan Sri Syed Mokhtar Al-Bukhary , have example of
entrepreneur become Proactive, Visionary, observant, failure is an option and open
risk taker. Next, Trait is talk about observant, open culture and outcome
oriental. Second is failure is an option its discuss about networked and
proactive. Lastly, about open risk taker its touch about visionary and team
oriented. For full assignment we can
find the enhancemant of entrepreneurs skills as successful entrepreneurs and
know about introduction of entrepreneurship, Tan Sri Syed Mokhtar Al- Bukhary,
Tranit, Failure is an option and Open risk taker.
7.0
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