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INTRODUCTION
An
entrepreneur is one of the necessary sections of commercial rise. Basically
he/she is a person liable for arranging a trade or an operation. In case he/she
is one who has the leadership, experience for modernization and who glances for
high triumphs. He/she is a catalytic assistant of difference and entirety for
the great of society. He/she provides new green field strategies that generate
worth, open up many enrollment conveniences and starts to the growth of other
zones.
The
phrase ‘entrepreneur’ is borrowed from the French verb “entreprender”. It means
“to undertake”. In the recent 16th century, the Frenchmen who
standardized and manage military excursions were attributed to as
“entrepreneurs”, over 1700 A.D., the term was used for architects and
contractors of public works.
The
phrase “entrepreneur” was practiced to business originally by the French
economist, Caltillon, in the 18th century; nominate a trader who
investments the means of construction for joining them into easily sold brands.
Another Frenchman J.B.SAY, enlarged Cantillon’s opinions and conceptualized the
entrepreneur as an coordinator of a business stiff, central to its distributive
and production activities. Further underlining the entrepreneur’s emphasis to
the business, Say did meager with his entrepreneurial investigation.
New
Theory of Entrepreneur – The phrase “entrepreneur” has been defined as one who
distinguishes and classifies a new position in his surroundings and conducts
the making of such regulations in the economic scheme as he/she deems
fundametal. He/she assumes of an industrial enterprise for the direction,
examples appreciable initiative, grit and persistence in delivering his project
to achievement and in this operation, implements one or more of him/her
succeeding.
TASK
1
FAILURE
IS AN OPTION
.
Failure is always an option, a phrase
popularized by Adam Savage from MythBusters, is a powerful ideology all of us
should embrace. It runs counter to the old saying by buttoned-down military
commanders, managers, football coaches and other commonly associated power
figures that failure is not an option.
Managing Director of Boutique Fareeda,
Mrs. Mawar bin Abdul Karim is the best example of the entrepreneur that making
failure as an option. Her determination and strong will enable her comeback
success. Her determination to change the fate of the family makes her strive
and never give up, and the result was born into the frenzy. She began involving
herself in the field of beauty and opened a beauty salon in Pulau Pinang. The
business received no response and only lasted a year only. After the failure of
her beauty salon business, she did not have any work to do and it put herself
in pressure. She determined to find a way to support her family. She must do something
to change the fate of the family, and she began dealing hijab from Dubai on a
small scale.
Mawar
Fareeda is one of the best example of the entrepreneur that making failure as an option. She believed
failure is something to be avoided, but it’s also only a temporary setback on a
bigger, more significant course. Obviously, she overcame those initial bouts of
failure in field of beauty when she opened a beauty salon in Pulau Pinang but
then now she is one of the well known entrepreneur in Malaysia.
Networked
Networking
means having your business network and business with other members of the
partnership. This characteristic can be seen in Tan Sri Syed Mokhtar Al
Bukhary, who is the owner of various company networks in energy, ports ,
hotels, manufacturing and supermarkets. Tan Sri Syed Mokhtar Al bukhary was a
prominent Malaysian entrepreneur who is very famous and successful in the field
of business.
He
started the business at age 19 years old as an entrepreneur beef and buffalo ,
he only have SPM at that time. However,
the outbreak of foot and mouth disease in 1970, has made his business bankrupt.
He no longer breed but now turn sell the meat cubes. After that, he has been
diversifying its business by moving into the transport business. He managed to
get a permit for the four trucks of Class A under Sentosa Motor Company. Tan
Sri Syed Mokhtar later formed a company in 1975 and awarded the contract to use
truck-lorry to start a business to supply rice to the FELDA, MARA namesake, Pernas
Edar and others. Later, he expanded his business to other commodities such as
sugar by Bukhari Sdn. Bhd. Yearly income Bukhary Sdn. Bhd. now stands at RM250
million.
After successfully developing the business of the
commodity transport, he stepped toward the manufacturing sector. He secured a
contract to supply 120,000 pairs of shoes and 330,000 pairs of uniforms to the
army in the Ministry of Defence. Following that, he set up two companies,
namely Amtek Holdings to manufacture shoes and Oriental Garments Uniform
Division to manufacture clothing. Amtek Holdings was listed on the Second Board
of the Kuala Lumpur Stock Exchange in 1998, listing the money he earned he
bought Spark Manshop to market branded clothing Crocodile.
After that he developed the business by buying MMC
Corporation and engineering company responsible for making the Port of Tanjung
Pelepas in Johor became known to the world in a short period. Its success can
be seen in attracting shipping company Evergreen Marine of Taiwan and Maersk
Sealand of Denmark to move its operations from Singapore to Johor. Foundation
(Muslims) Al-Bukhary set up to help the poor, support the development of art
and culture. Yayasan al-Bukhary spent more than RM300 million for religious,
cultural and educational. Among the initiatives is doing is financing the poor
Muslim students from around the ASEAN studying in Malaysia. In fact, in 2000,
Yayasan al-Bukhary donated RM7.75 million to the Oxford Centre for Islamic
Studies, which is a famous center of Islamic learning in the world. Yayasan
Al-Bukhary even more emphasis on charity projects that characterized Islam, it
still contributes to projects run by non-Muslims. He has contributed RM1
million for the Langkawi Project, the MCA project to provide scholarships to
needy students. His sincerity in doing business allows him to expand his
business network.
OPEN RISK TAKER
Open
risk taker is 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 rewarding outcomeThe open risk taker, Jeff Bezos was born on 12th
of January in 1964. He is an American technology entrepreneur and shareholder.
As the founder and CEO of Amazon.com, he has played an extraordinarily
meaningful part in the growth of e-commerce. Amazon.com is an online merchant
of books and later of a wide variety of products and services, most recently
video streaming.
Bezos
started his first company from garage in 1995. By 1998, he was in charge of a
$22.1 Billion market existence. He took the risk of working in his garage and
believed it could be something.Furthermore, Bezos no way block to take risk. He
said that, “We are willing to go down a bunch of dark passageways, and
occasionally we find something that really works.” He continued his journey by
founding a space tourism company, Blue Origin. On November 23, 2015, Blue
Origin’s New Shepard space vehicle successfully flew to space, reaching its
planned test altitude of 329,839 feet (100.5 kilometers) before shooting an
historic vertical landing back at the launch site in West Texas. Bezos does not
afraid to take risk. A bigger problem, he said, would be if a company stopped
taking risks, forcing it to make a desperate play to survive late in the game.
He is going to convert Amazon from the world’s largest online retailer into
what is soon to be recognized as one of the world’s leading tech companies.
TEAM
ORIENTED
Team
oriented means that you just don’t think of yourself, you include others in
your decisions. Everyone has a contributing factor in the operations and
decisions that concern the business or venture. No one is more superior in the
business and everybody has an equal say without any reprecussions.
For
sure everyone knows Tony Fernandes is a successful entrepreneur in the airline
business and creator of Malaysia “Tune Air Sdn. Bhd.”. He always pursued his
mother to make announcing of Tupperware at everywhere when he was youthful.
After receiving a university degree from the London School of Economics in
1987, he worked shortly with Virgin Airlines as an auditor, and afterwards from
1987 until 1989, he became financial executive to Virgin Records, a Richard
Branson in London. He used RM1 acquired the Air Asia from DRB-Hicom was about
US$11 (RM40 million) in October 2001. So, he used his own method and skill to
settle the trouble.
Tony
Fernandes more suggest team-oriented used in his company. It means that it is a
group of people work together not work as individuals. Their duty is to ensure
the procedure and goals are always aligned with the organization’s durable
vision and objectives. They figure the problem together and making compromise
based on the report they investigated.
After
Tony Fernandes took over the company, he sticked off some employees to reduce
the cost of the company and led a team of employee to run the business process
became more productivity and capability.
He
reconstructed the company and displaced the job to all departments and created
the new vision and mission for his company. Futhermore, the eyesight for the
Air Asia is to be a cheaper airline around the Asia. While for the mission, Air
Asia wants to be a terrific airline company to work by which worker are
regarded as part of the big family. Tony Fernandes said that employees appeared
number one and clients came number two. The employees will entertain the
customers needed if they had a happy workforce.
In
conclusion, to be a great entrepreneur, there is a must to be a team oriented.
Because to have a good team, one person must lead and show the good guide to
their team. If Tony Fernandes can’t become the leader, Air Asia might be
unknown to the world. In addition, there are also many others entrepreneurs to
be set as example other than Tony Fernandes who can has a team oriented characteristics
in order to achieve success.
Outcome
oriented
Outcome
oriented is important for entrepreneur. This is because outcome oriented means
that the entrepreneur has the clear sight of his/her goal. They have sure and
focus with what they want to achieve. They does not waste time thinking about
the problems that come to stop them, rather they find the solution and
alternatives on how to cope with the problems. To become the successful
entrepreneur these are the basic skills which need to inculcate among them.
This
outcome oriented entrepreneur can be seen in Dato Aliff Syukri the entrepreneur
who has success in their life. He has the clear vision to make his business
(D’Herbs) become success in the future. D’Herbs vision is to become a company
that produces single level beauty and health products with an open concept that
easier and simpler.
D’Herbs
was founded on September 2010 where they operate only in the lot of shops on
the 2nd floor with one employee only. But with his effort, he have move forward
further by producing nearly 90 series of new products with a total of 35 staff
members who helped the company journey. With this ultimate vision,he will kept
trying to make more of its products on the market and become the successful
entrepreneur.
PROACTIVE
Tatparanandam Ananda Krishnan was born on 1st April 1938 in Brickfields, Kuala Lumpur to a Tamil parent that was originated from Sri Lanka, India. He studied at Vivekananda Tamil School in Brickfields and furthers his studies at Victoria Institution in Kuala Lumpur. He then furthers his studies in the University of Melbourne, Australia as a Colombo Plan scholar for B.A. (Honours) degree majoring in political science and he had boarded in the Melbourne suburb of Hawthorn. After that, he had obtained a Masters in Business Administration from Harvard Business School and graduated in 1964.
Proactive is
means controlling a situation by causing something to happen rather than
waiting to respond to it after it happens. In other words, an entrepreneur with
proactive, he will try to make something happen instead of waiting for them
happen to him. He will poss a vision of what he want and work in a directed way
to achieve it. Ananda Krishnan is a proactive entrepreneur as he able to
identify the opportunity and take action to make positive changes.
It
was reported that when he was studying for his master, he was also been working
on the student newspaper. Ananda Krishnan’s first
entrepreneurial venture was a Malaysian consultancy MAI Holdings Sdn Bhd. He
later on started as oil trader by setting up the Exoil Trading which went on to
purchase oil drilling concessions in various countries. After that, he finds
opportunity in other industry such as gambling and gaming in Malaysia, study
farming in Australia, running cartoon animation studios in California and
Manila, and making some investments in the private companies from Hong Kong to
the Channel Islands.
Ananda
Krishnan finding opportunity not only in Malaysia but also in other countries
as well. This shows well he is a very proactive entrepreneur that keeps on
finding opportunities.
Ananda Krishnan showed that he is a
proactive person in business. He takes actions before the threat arise. This
decision on privatizing was his alone though he discussed and analyzed with
other entrepreneurs and his shareholders. His proactive planning and good
decision-making skills help ed him to achieve the goals.
If
you're an entrepreneur, it is very important to incorporate more proactive
behaviour into your everyday life. You will not only be more successful, but
you'll be less stressed. If you're less stressed, you'll have more time to
focus on your business, family, friends, and life in general. By making a few
changes to your attitude and behaviour, you can be more productive and content
as an entrepreneur.
OBSERVANT
Observant
means keen observer of power and carefully surrounding sensitive. As example,
Howard Schultz, an American businessman. He is known well as the chairman and
Chief Executive Officer (CEO) of Starbucks Corps.
Howard
Schultz thought of having idea of opening Starbucks while he at Italy. While he
was at a Milan’s espresso bar, he observe that the coffee shop played an
essential role in the social life of many Italians. The coffee shop become the
point where neighborhood or a group of friends met, hung out and lingered every
hours of the day. He can see the business opportunity in this case. After the
observation, “why not open a coffee bar in Seattle?” come to mind, he said in
an interview of The New York Times.
Before,
Starbucks the found everywhere retail chain in the 1990s turned coffee drinking
into national pastime. Also we can see Howard Schultz, as the mastermind behind
Starbucks’ extremely surprising growth. By bringing the Italy “coffeehouse
culture” concept to the United States and packaging it for mass consumption,
this maverick marketer changed an also-known four-store chain in the leading
retailer of specialty coffee in North America.
Then,
according to his vision, Schultz set out to completely make a change fix and
some change to Starbucks. Before, Starbucks just have the $1-per-cup “basic”
brew, after that he expanded Starbucks’ offerings to include more exotic coffee
beverages such as coffee Frappuccino. There are also café latte, caramel
macchiato and iced coffee. He also seek to make a more attracting atmosphere
for his customers like make sure the coffee shop clean and well-lighted place
where they could relax and enjoy their drinks in comfort.
OPEN CULTURE
Open
culture generally is refer to the concept that is when a knowledge should be
spread freely. This spreading knowledge are not tied to any legal protection of
Intellectual Property Current. In Malaysia we have Datuk Steven Sim whose
practice open culture characteristic in his business.
Steven
Sim, the founder and owner of Secret Recipe, the Malaysian halal-certified café
chain company established since 1997. Secret Recipe made its own mark, known
for its large-scale range of good quality gourmet cakes. It has since extended
gradually to become one of the fastest growing lifestyle cakes and café chain
in the region with over 280 café outlets now. Secret Recipe first outlet at
SS2, Petaling Jaya.
Steven
Sim always want to be different. He also said; “to be different, we must
identify the features of a brand that can extend beyond. These features are
what makes a brand truly unique and distinctive compared with its competitors”.
He seriously apply this in his business to make sure the business always have open
culture concept while keep it Halal, clean and tasty for every outlet. For
every outlet, Muslims can enjoy it as-well-like non-Muslims enjoy the cuisines
and cakes.
Overall,
Datuk Steven Sim can be categorized as open culture entrepreneur because he can
detect the low in food industry and make it a business opportunity to him. He
was able to create something or concept that every culture, anyone can enjoy it
and flexible to globalization.
VISIONARY
Visionary
emphasizes self-discipline and have a good academic record. Steve Jobs was an
entrepreneur that had the vision that high. This is evidenced by how he was
able to raise the brand Apple.
In
the management of Steve Jobs, he never attempted to meet market demands and
wishes for the people. He created something that will make people have a desire
to buy Apple products. He believes that we should not create something to meet
the market demand but we have to create something that is actually needed by
society that they themselves do not know that they need.
Steve
Jobs was a visionary in the manufacture of its products. He set the benchmark
high in innovating a product is to demand excellence in all Apple products. He
did not get too focused on profit alone, but he wants them to design, develop
and bring a better product on the market.
Because
of that, Apple made sure they did not produce a new product which is similar to
other brands, but they produce better products and high quality. Steve Jobs
often innovative products such as the iPad 2 is thinner than 33 percent of iPad
1.
Five
(5) Entrepreneurial Traits on Steve Jobs
1.OPEN RISK TAKER
Mean
daring to take risks incurring any eventuality when designing something. Dare
to take risks also are brave through life itself. Steven Paul Jobs or Steve
Jobs is known as one of the most successful entrepreneurs. Although, initially
Steve Jobs had failed in his business. Steve Jobs is known because he has a
personality that is very high. He has a vision to take risks. Steve Jobs
founded Apple and bring the company back to life after he was fired and then
save it from failure severe. This means that he makes tough choices and make
decisions that he himself is not sure whether the result of the decision made.
The history of the life of Steve Jobs at Apple is fraught with risk and
difficulty is very high, and is told in the book "Becoming Steve Jobs".
Steve Jobs is one of the entrepreneurs that take risks. He decided to revoke
the use of flash of the iPhone as a misunderstanding by Adobe. Steve Jobs
refused to use Adobe Flash on the iPhone and iPad. At that time, Steve Jobs
action is a great bet because most of the multimedia content on the internet is
dominated by Flash. Steve Jobs to take risks to create something that was not
created by him again. When everyone is busy using mobile phones which has a
button, he created his first touch screen for iPhone. Although a bit odd to
have a smartphone without a touch screen at that moment. But this is a big
issue in 2007. Everyone is familiar with the "button" before the
creation of the iPhone until the iPhone and a concern about whether people
accept or not accept the creation. iPhone is a smartphone that is created has a
touch screen or touchscreen and does not have any button or keypad altogether.
In conclusion, Steve Jobs is taking a big risk and hard to deal with. His
attitude to risk-taking has not deterred him from continuing to raise the name
of Apple worldwide.
2.
VISIONARY
Visionary
emphasizes self-discipline and have a good academic record. Steve Jobs was an
entrepreneur that had the vision that high.
This is evidenced by how he was able to raise
the brand Apple. In the management of Steve Jobs, he never attempted to meet
market demands and wishes for the people. He created something that will make
people have a desire to buy Apple products. He believes that we should not
create something to meet the market demand but we have to create something that
is actually needed by society that they themselves do not know that they need.
Steve Jobs was a visionary in the manufacture of its products. He set the benchmark
high in innovating a product is to demand excellence in all Apple products. He
did not get too focused on profit alone, but he wants them to design, develop
and bring a better product on the market. Because of that, Apple made sure they
did not produce a new product which is similar to other brands, but they
produce better products and high quality. Steve Jobs often innovative products
such as the iPad 2 is thinner than 33 percent of iPad 1.
3. FAILURE IS A OPTION
Failure
is an option means the failure experienced by us will be an option for us to
continue to rise or find a way to achieve success. Precious legacy of Steve
Jobs is a failure and a failure to appreciate how his life as he did reach the
end of its life. Failure is a design of his life. It is our personal uniqueness
that makes us worth as a human being. That is internalized by Steve Jobs. He
took many years to find a way so that Apple will achieve success. But failure
in life is driven by the desire to be better and aspire to change the world.
Apple Inc., formerly known as Apple Computer Inc.
This
organization is a multinational company that creates electronic equipment,
computer software and everything related to computing, whether for personal or
business use. Apple Inc was founded by Steve Jobs and Steve Wozniak on 1 April
1976 and registered in 1977.
Apple
Inc located in Cupertino, California. At first, Apple Inc. was headquartered in
the garage and just sell the circuit boards to hold one of the components in
the computer. Apple Inc business start-up capital is US $ 1300 (£ 3963), the
proceeds from the sale microbus by Steve Jobs and one of the components of the
computer and calculator sales by Wozniak. His business grew well after the
first Apple 1 computer sells for US $ 666 (RM 2026). Apple Inc's main product
is the iPhone, the iPod music game and a variety of Macintosh computers.
Changes made by Apple Inc. was based on "Developmental Change". This
is because Apple wants to expand their business to innovate by creating a
larger smartphone, MP3, etc. other than computers. After Steve Jobs took over
Apple Inc, Apple Inc has increased profit after nearly bankrupt in 1996. As a
result of the leadership of Steve Jobs, a product marketed by Apple Inc has
been ahead of other competitors.
4. TEAM ORIENTED
The
definition of team oriented refers to the working atmosphere in the team who
practice the cooperation and work together to carry out the task of achieving
the same objective.
In
Apple, not everyone has the skills to work with Steve Jobs, even if a person
has a lot of experience. Apple requires team work they call their special work
teams. The creation of a product, the team spirit is important because there
may be a product that can be produced only with an individual based on a single
idea. This is because the group, many ideas can be generated from thinking so
much of a product can be produced by creative and innovative, based on the
ideas that were presented and critiqued to achieve better results. Every
employee at Apple has their own job functions but there is a 'fine line'
between those functions in which each of them must be able to collaborate with
each other despite their different projects. They also will only take workers
who are not satisfied or content with what you have.
With
this it is clear that teamwork through quality management with the cooperation
of all employees at all levels, whether at the top level and guarantee the
success of a business subordinates.
5.OUTCOME ORIENTED
For
Apple, the goals you want to target are not profit, but Apple has set the main
goal is clear, namely to design, develop and bring to market products better.
For them, the result of the preferred and loved by the public because of its
design that has been marketed to them will bring income. Steve Jobs does not
have the characteristics of an employee's dream boss. He is known for an
autocratic leadership style and difficult for those working under him. Those
who worked with him say he can not only change a decision that has been made in
an instant he would be embarrassing sometimes even those who disagree with his
views.
But
the characteristics possessed by the Apple name he has raised and developed the
original Apple brand that he had been the verge of collapse. Apple to ensure
that they do not merely produce a new product that just simply different from
competitors' products, but they are ensuring the product is better and has high
quality. For Apple, simply produce different products and the new are easy. The
emphasis on the aspect of 'better' on Apple products reflects the company's
stand to not want to be a company that continues to manufacture new products
just simply because they want to live without thinking about long-term effects.
For Apple, it is a waste if a company is using all its resources including
employee work time only to produce a new product that does not give new value
to the buyer.
CONCLUSION
As
a conclusion, we can conclude that every entrepreneur have their own goal and
their own principle in order to achieve the goals. Every one of them have a
particular characteristic which bring them to their goals. This assignment
taught us that we need to have entrepreneur traits that mostly needed and
applied to manage the business by the entrepreneurs.
Through
this assignment we can study and recognize certain entrepreneurial skill by
these entrepreneurs. After done this assignment we can say that we reached the
objective of this assignment which is to provide an understanding and
importance of the improvement of entrepreneurial skills and personal qualities
with supportive evidence by linking to successful entrepreneurs in Malaysia and
the world.
It
also can give inspiration to us to involve ourself in business. There is no
succesful entrepreneur without any challenge. All entrepreneur have their own
challenge in business that can inspire them to become more stronger and success
in their business.
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at 07:30
