INTRODUCTION
This assignment discusses "Features
of Entrepreneurship". We have taken the initiative in setting up this
task. We have also selected some famous figures or prominent entrepreneurs in
Malaysia. As we know, there are many successful entrepreneurs in the country,
but we have chosen a number of businessmen. Among Loh Boon Siew, Dato 'Ameer
Ali Mydin, Tan Sri Mokhtar Al-Bukhary, Dato' Wira Dr. Maznah, Tan Sri Dr.
Jeffrey Cheah, and Irfan Khairi. Each of the selected figure has its own
characteristics and the entrepreneurs in their business practices so that was
awarded the status of "entrepreneurs". The word entrepreneur was
first introduced in 1970, the time of launch of the New Economic Policy. In
times of Malacca, they expressed themselves in business is called as merchants,
while in 1900 they were known as traders. However, the word entrepreneur has
the same meaning as the English word "entrepreneur". The word
entrepreneur is derived from a French word that means to shoulder the duties or
responsibilities. This word has been used since 1775 by Richard Cantillon,
referring to the entrepreneurial activity. Kamus Dewan New Edition defines an
entrepreneur who runs a company that is the employer. Employers are intended as
a massive job to make industrial goods or work items. Generally, we can
conclude that the entrepreneur is someone who takes risks in starting or
setting up a business and work on it. By 2020, Malaysia has been moving towards
industrial development of the country, targeting the business sector is an
important sector in the country. This is because, the business sector is the
sector that generates high income to the state. As we know, in today's era of
modernity, many individuals who have dabbled in business no matter age or even
gender. Overall, we have agreed to choose some of the most renowned figures in
Malaysia for the completion of the assignment.
1.
TASK 1A - IDENTIFY AND EXPLAIN THE
QUALITIES OF ENTREPRENEURSHIP
1.1 FAILURE IS A CHOICE
- Irfan Khairi -
Failure in business is a common thing
that has become commonplace to someone becoming entrepreneurs. Although there
were entrepreneurs who had never experienced failure in their business, but in
fact most of the entrepreneurs who are involved in this business must fail
either during the process of starting a business or running a business.
However, the failure is an option for entrepreneurs whether to make it a
catalyst for the continued successful or even make it as a factor to keep in
despair. Typically, these failures will be taken as a lesson and used as
experience to avoid the repeated failures of events in the future.
Examples of entrepreneurs who bounce back
from failure is Irfan Khairi, an internet millionaire is now increasingly
recognized. At the beginning of his involvement in internet business, she
offers their services in the form of a website, brochures, book covers, and so
on. However, the business is not doing well even result in losses. It is caused
by improper way and no focus entirely on the business. Failure that has led to
his rise to vigorously explore the science of internet business. He also
attended short courses, scoop tips from the Internet and makes experts in the
field of internet business as an example. (Irfan Khairi, 2010). Thus began the
development in the field of internet business it is involved in making it a
millionaire now.
1.2 TEAM ORIENTED
- Sapura Kencana Group -
Working in a team is an important aspect
to ensure a company's success or failure. Although a fair entrepreneurs have
high self-reliance, but cooperation as a team are also essential for the
survival of a business. This is because, an entrepreneur cannot do all the work
alone as production work, clerical or marketing. The efforts required of the
fair in a business team member to ensure the success of a business.
A family-owned business empires can be
used as a business that can be emulated. It becomes an attraction to the public
because of the understanding held between family members and teamwork in Sapura
Kencana Petroleum makes these two successful entrepreneurs, namely Dato
'Shamsuddin and Director Tan Sri Dato' Seri Sc crowned the 12th richest in Malaysia
with a wealth stood at 1.05 billion. Their father, Tan Sri Shamsuddin Kadir was
the original founder of the company. Originally, the company's core business is
based on the auto, defense, energy and ICT subsequently is. However, in the
late 90s, his son, M. Shamsuddin has assumed his duties in the company.
Gradually turn the group into what it is today, that is largely an oil and gas
company.
Dato 'Shamsuddin Director has been
appointed chairman of the group, with Tan Sri Dato' Seri Resources Corporation
President / CEO. Initially difficult for Shahril but he began to play a more
active role in society. At first, investors are still difficult and less
certain to receive Investor despite growing oil and gas sector rapidly. In
connection with it, the group company has transformed itself into a provider of
oil and gas is the most integrated and largest in the country and today, it
seems has struck the right chord with investors brotherhood. In conclusion,
teamwork is one of the important features that should be included in a
business. Both these figures have proven entrepreneur with multiple success
they earn up to today.
1.3 OBSERVANT
- Neeta Gosalia -
Successful entrepreneurs must have the
characteristics of entrepreneurs within them. One of these features is observant.
Entrepreneurs who have the foresight is someone who knows how to plan, analyse,
formulate and take every opportunity to appear before your eyes. Entrepreneurs
who have this trait exaggerated predict things before doing things, whether the
matter would be an advantage or disadvantage to them.
This feature is available in a prominent figure
with its own product called Herbal namely Neeta Neeta Gosalia. He was born in a
family that wants a son. The third of six siblings born into a family of this
woman Gujeratis conservative and assume this girl as a disaster. This is
because people Gujeratis in Kuala Pilah when it held that only their boys were
able to keep the family well. But on this day, family Gosalia greatly admired
by the success of his daughters especially Neeta who embarked herbal hair
products and skin care centre which is Neeta's Herbal.
Has opened a total of 23 branches nationwide
and 10 overseas branches, Neeta never or boast, but he also helped the sisters
to another so that each has the status of a sound financial position. It turns
out that despite the softness of character and decency Indian woman wearing a
sari was stored wisdom that made him an admired entrepreneur community. This
ability is recognized by his own father through interaction convince customers
to buy objects of jewellery in the jewellery store owned by his father. In
addition, his father also admitted that he never regretted having all of his
daughter because he educated his children gritty as men.
He started this business with the idea to
produce a herbal potion, inspiration comes from his own bitter experience. He
has experience hair loss problems very serious at a young age of 17 years. For
Indian women, the condition is not only embarrassing but also cause feelings of
trauma to his men, who experience it. His arrival to Kuala Lumpur to continue
their studies at the Sixth Form have found her with Visualigam who is now a
husband. Although the relationship they received strong opposition between the
two sides due to differences in karma but ultimately, they are united as husband
and wife. Results encouragement from her husband, Neeta has travelled to India
to seek expert assistance on traditional herbal hair loss problems confronting
him. He began practicing punching and herbs gathered from the expert said.
After a month of practicing, his hair began to grow up healthy and has led to
great interest in him to continue to study the contents of the weed.
With financial assistance from her husband, she
signed a three-year course in Ayurvedic colleges in India. Upon his return to
Malaysia, Neeta Neeta and her husband have opened Herbs in Brickfields, Kuala
Lumpur to create his own production, especially for hair care with traditional
herbal ingredients such as shampoos, tonics, lotions, creams hair oil dam at
the age of 21 years. The output of goods received but still fierce opposition
from Western countries produced goods. Goods west widespread impact among
consumers because the user is not given enough exposure on herbal products. In
addition, users often misinterpret the effectiveness of herbal products is
combined with non-fragrant aroma than products in western countries.
After two years of opening Neeta Herbal, they
are almost out of business because they do not realize the effectiveness of
this product. Plus, the cost of marketing to these products costly. At that
time, the fate of Neeta really fortunate to have been invited to attend the
Miss Plans published by the renowned station TV3 has brought the name of the
product. From there, Neeta and her husband quickly noticed the importance of a
good marketing plan to ensure that their products are known.
Since then, Neeta and husband no longer looked
back. By 1991, they had decided to expand the business by supplying their
products to selected stores in the country. There, they managed to penetrate
the US market and UK and open some outlets there. In 2007, a successful outlet
has opened in Hyderabad, India. This success is the family of the infinite is a
major milestone for Neeta. Now, in addition to Neeta happy husband and three
children and when asked about his success, he replied, "Success in
business is not only measured how consult money you earn or how big the
business you have, but for me it's about a family who always supported and
believe in my ability. "
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1.4 OUTCOMEORIENTED
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- Datuk Wira Dr. Maznah –
As a outcome oriented focus the mind acts on the received
results and impact. An entrepreneur will strive to achieve continued in various
ways to further develop them. One way is usahwan will try to market and grow
their business internationally. In addition, entrepreneurs will also diversify
their products or goods.
Entrepreneurship is found in self Datuk Wira Dr. Maznah.
He is the Executive Chairman of Securiforce. Securiforce company is one of the
security company found in Malaysia. She has led the company name Securiforce of
33 years ago is not known until known and become a friend of the biggest
security company in Malaysia. Securiforce company can compete with more than
400 companies of security.
He has led more than 68 branches and over 6000 staff who
led the 4000 staff of the security guards. Most encouraging is bullet-proof van
used by the company is the result of his own release from the company's own
Securiforce. Along with the advancing technology, the company expanded Security
internationally Total Security solution concept. This concept not only include
security guard services but also includes services such as logistics,
cash-in-transit, cash management, high-tea cargo management, lormoured tarcking
services and various other services.
As a result of his persistence and staff to lead the
company, now Securiforce already has several subsidiaries that are thriving.
Among them is the power of Fair Sdn Bhd which is a property development company
in Bandar Tun Razak. The company runs services such as building apartments or
condominiums, penthouses, exclusive and complex sites.
Securiforce company owned Dr.Maznah also has been
expanding internationally by setting up another company named Securiforce
Logistics forwarding agents representing land, sea and air. The service covers
the Asian region, Europe and the East. Securiforce also has a branch in
Singapore, Thailand, China, Korea, Turkey and Germany. More interesting about the
journey of her success is all subsidiaries which he established and built
thriving without financial assistance from the bank.
1.5 VISIONARY
- Dato 'Aliff Shukri Kamarzaman-
Visionary is one of the characteristics or
features that should be included in a person who wants to be successful. This
trait is important for everyone, especially to the individual entrepreneur.
This is because a person with a vision never tire to keep trying to improve
themselves. In business, entrepreneurs are exposed to any potential or
unexpected risk. Thus, the visionary nature that is within an entrepreneur can
help themselves to survive in the business.
Dato 'Aliff Shukri Kamarzaman is a business
founder D'Herbs Holdings (M) or previously in the D'Herbs Healthy Marketing
where originally only sold four products, namely foundation, slimming products,
and lipstick lip treatment. Now, the efforts made by the determined efforts of
his products widely marketed or commercialized throughout Malaysia, Brunei and
Singapore. Furthermore, the products one by one managed to get a place in the
hearts of consumers as a main product.
With stand and determination Dato 'Aliff
Shukri, it can be proved that he is an entrepreneur with a vision of the
company. As we all know, a condemnation and criticism levelled against him by
the public since the company began to operate. However, he only took the
criticism in a positive perspective to keep moving forward. He has set a goal
or ultimate vision which makes D'Herbs level of a single company that produces
health and beauty products with an open concept that is easier and simpler. In
addition, have the best system in the management, effectiveness, quality and
reasonable price so affordable for all groups so as to generate revenue and
profit for both - sides between producers and traders. As an entrepreneur and
visionary, Dato 'Aliff Shukri has set a goal and a desire to help all levels of
either men or women who face health problems internally and externally to come
up with a more confident and stylish. In addition, through his company will be
able to help them out there to generate more lucrative to sell the products of
D'Herbs.
In conclusion, Dato 'Aliff Shukri is a
visionary entrepreneur. This is where he has proven its success has now been
almost 90 new products in collaboration with a network of 35 employees D'Herbs
that help the smooth running of the company in each branch established.
1.6 OPEN RISK TAKER
- Tan Sri
Dr. Jeffrey –
Entrepreneurs
are risk-taking entrepreneur who is opening a new business taking the
opportunities that exist even though it will bring very high risks in business
in order to gain more profit than the other entrepreneurs. This is because
entrepreneurs need to always make decisions that have been taken into account
by the risk reward to be gained. One of the leaders of entrepreneurs that can
serve as a model for risk-taking feature is Tan Sri Dr. Jeffrey Cheah, the
founder and leader of Sunway Group.
He
started the business in the tin ore mining through the River Wey company with a
capital of RM100,000 just although the business is likely to face many risks.
The company proved to be viable in 1977 during an economic recession. Then,
develop its business towards the quarry and sand. In 1987, the impact of the
recession is felt because the company Sunway Holdings Berhad face losses that
nearly wiped out the company's shareholders' funds. However, the company is still
strong because Tan Sri Dr. Jeffrey has begun to take steps to diversify the
risk that the company may be disseminated. Sunway Holdings Berhad became
involved in property development, manufacturing, hospitality and entertainment
related business. The results of this business diversification, he managed to
establish Sunway City Berhad, Sunway Construction Berhad and Sunway Building
Berhad. These figures should serve as an example for his skill in taking risks
into consideration when recession occurs. Its success has been proven as listed
in the main board of the Kuala Lumpur Stock Exchange in 1984 as Sunway Holdings
Berhad as encouraging performance of the company and was also named the best
company managed by Asia Money magazine.
1.7 NETWORKED
- Tan Sri Mokhtar Al-Bukhary –
Business
networking means any communication that occurs and is maintained by an
entrepreneur with the society in order to achieve mutual benefit. This benefit
will be obtained by the two parties, namely the entrepreneurs and the public.
This situation is called a win-win situation. Furthermore, an entrepreneur must
meet the needs of society while they also gain. Among prominent features
business networking in business is Tan Sri Mokhtar Al-Bukhary.
Tan Sri
Mokhtar Al-Bukhary has established business Susu Mas Sdn Bhd, a joint venture
between his company and the New Zealand dairy company Milk Products. These
products are marketed under the brand Anchor and Fernleaf. Furthermore, this
business gets his milk supply contract by the government at the time. This
contract is a license to him to do business with companies abroad and foreign
entrepreneurs.
In
addition, Tan Sri Mokhtar Al-Bukhary also to practice open network when he
began performing barter system to produce cocoa from its factory and converted
with tea from China. This proves that he is also doing trade with overseas
businesses. As a result, he was able to expand its business network at the
international level and expanded its product around the world and not only in
the country of Malaysia. This proves that he is a successful entrepreneur for
successfully doing business even when tested with multiple challenges involved
in this business. Furthermore, he has been declared as one of the success in
Malaysia.
1.8 OPEN CULTURE
- Tan Sri Loh Boon Siew –
'' Open Culture '' is a concept by which
knowledge should be freely and growth must come from the developing world,
change or enrich the work already existing on the basis of partnership and
cooperation, without being bound to the rules relating to the protection of the
law of intellectual property. In a business context, an entrepreneur needs to
accept foreign cultures.
This is important because an open culture
to attract customers to believe and trust in the products marketed by a
business in a country. Through knowledge of foreign cultures, entrepreneurs can
understand cultural differences in terms of demographic and social conditions
of local communities. Tan Sri Loh Boon Siew is a figure that has open in its
business culture. This can be seen when Tan Sri Loh Boon Siew visit to Osaka,
Japan, he saw a small, lightweight motorcycles and in accordance with the
physical characteristics of Malaysians were smallish. He took this opportunity
to collaborate with the designer motorcycle manufacturer Honda is to be
marketed in Malaysia. This bike is better known by motorcycle 'cub'. Therefore,
he has ordered the motorcycle unit for sale in Penang as key business
locations.
1.9 PROACTIVE
- Datuk Wira (Dr.) Haji Ameer Ali bin Mydin –
According to the fourth edition of the dictionary
Council, proactive means a positive attitude whether individuals, institutions
and others who drafted or perform an action (after carefully thought) well in
advance of the occurrence of a problem that absolutely require action in
respect of (acts done only after something that happens) .Seseorang which have
a proactive attitude often have a vision for the future, look to the future
with optimism, always active and thinking about what they can do to improve the
quality of life. Proactive attitude tends to lead to action (action) is positive.
Next, proactive also be defined as those which are relatively unaffected by the
power situation around him, even those who are able to influence change in
their environment. High proactive person is able to identify opportunities and
take the appropriate action to take advantage of this opportunity, show
initiative and maintain it until meaningful change occurs. The opposite of
proactive is passive or reactive, that people who tend to adapt or compromise
the situation, and try to transform themselves to have a positive influence on
the situation around him.
This proactive feature is compatible with leading
figures in the Malaysian entrepreneur Datuk Wira (Dr.) Haji Ameer Ali bin
Mydin, who was the founder of the Company Mydin Mohamed Holdings Berhad latest
after succeeding his father, Mr. Mydin Mohamed bin Ghulam Hussein. Businesses
are carried out for generations in a family. He has continued this legacy as
the founder of a new supermarket MYDIN despite the fact that this supermarket
is a small grocery store on the former, which has been developed into a leading
supermarket and has many branches in various states of Peninsular Malaysia.
Now, Supermarkets Mydin has become a famous supermarket in Malaysia and likes
to visit as it provides a wide range of goods and offering low prices or price
compared to other supermarkets. The supermarket is a supermarket that is known
is due to the proactive attitude adopted by Datuk Wira (Dr.) Haji Ameer Ali
himself. He took the initiative to look for opportunities in the market while
meeting customer demand in the market. For example, he has taken action to
provide daily necessities such as food, beverages, groceries, fresh food, and
others who focused on "halal". This led Mydin to be preferred
primarily to customers who are Muslims. In fact, he is constantly looking for
feedback from customers to meet any new demand in addition to reasonably priced
and affordable for all classes of customers, despite having to compete with
other businesses.
In fact, the success achieved by the Group MYDIN are
actually based on the characteristics of leadership practiced by Datuk Wira
(Dr.) Haji Ameer Ali bin Mydin very proactive, disciplined, honest, show up on
time and so on. With this attitude on display, many successes have been
achieved by him. Among them, he was awarded the title of Dato' by the Sultan of
Pahang in 1999. This recognition is given in appreciation of his contribution
in driving the retail industry and local entrepreneurs in Malaysia. In
addition, he is also the recipient of the Asia Pacific Entrepreneurship Awards
Entrepreneurship Award (APEA) for Malaysia Region, the recipients 'Malaysia
Business Leadership Awards 2009' by the Kuala Lumpur Chamber of Commerce, and
so on. Therefore, the characteristics of entrepreneurship practiced by Datuk
Wira (Dr.) Haji Ameer Ali has stood out with numerous accolades earned and he
did not ripple or forget yourself, even making him more enthusiastic in
promoting the legacy of the family business and the more famous around the
world on par with other supermarkets.
2.
TASK 1B -
BIOGRAPHY OF A SUCCESSFUL ENTREPRENEURS
2.1 BIODATA
TONY FERNANDES
- Tan Sri
Tony Fernandes –
Tan Sri
Tony Fernandes, whose real name is Anthony Francis Fernandes is a leading
low-cost airline the first in Malaysia. He was born on 30 April 1964 in Kuala
Lumpur, Malaysia. Fernandes is a nation of mixed Portuguese Goa Melaka. His
father, Dr. Stephen Edward Fernandes had died and his mother, Ena Dorothy
Fernandes. Since childhood, he showed an interest in the business as often by
his mother to Tupperware convention.
After
graduating from the London School of Economics, he worked for Virgin Airlines
as an auditor before becoming financial controller at Virgin Records in London.
After returning to Malaysia, he was a managing director at Warner Music
(Malaysia) Sdn. After that, he was appointed Regional Vice President South East
Asia for Warner Music Group. Fernandes had to leave the company at the time of
Time Warner Inc. want to join the America Online in order to realize his dream
of establishing a low-cost airline, now known as Air Asia. He has many features
that make it as a successful entrepreneur and a prominent today.
2.1.1 OBSERVANT
He is known for his foresight when he bought Air Asia when it was
experiencing severe losses and then he was struggling after possible to change
the company Air Asia from a small airline to an airline which offers low fares
now grow quickly. Air Asia is now visible when the chart has pioneered low-cost
airlines are successful in the world.
This is
clearly evident when he can anticipate situations that might occur. He bought
Air Asia in December 2011 of DRB-HICOM Malaysia owner at a price of RM1 and
RM40 million to take the airline's debt. He set the vision of Air Asia is to
become the largest low cost airline in Asia and serving the 3 million people
who are often charged high fares.
2.1.2 TEAM ORIENTED
In
addition, Tony Fernandes also has a team-oriented entrepreneurship. He took the
approach to the work done by the staff. According to him, by the way, he was
able to understand and track challenge in company operations. He also tried to
generalize and not put himself as the manager who has a special position to
just have the workspace open and very small. But what is more surprising is
that he does not have special rooms for himself and often assume that he is a
worker who had worked in the company.
2.1.3 NETWORKED
Tony Fernandes is also considered to be a successful entrepreneur
because it has a wide business network. Air Asia Group operates international
and domestic flights to over 400 destinations across 25 countries. Its main
operations centre is the Low Cost Carrier Terminal (LCCT) at Kuala Lumpur
International Airport (KLIA). He has established business with a number of
other airlines such as Thai Air Asia, Air Asia and Air Asia Japan Philippines.
With a route network covering more than 20 countries, Air Asia continues to
pave the way for a low-cost through innovative solutions, efficient processes
and earnest effort in the business. As a result, Air Asia currently has a
sister company of Air Asia X, Thai Air Asia, Air Asia Indonesia and the Philippines' Air Asia Inc.
2.1.4
OPEN RISK TAKER
In addition, Tony
Fernandes is also very brave in taking calculated risks. Tony Fernandes has
decided to take over a company owned by DRB-Hicom under the Air Asia Sdn. Bhd.
Although the company is saddled in debt levels. It is evident that the Air Asia
Berhad with a new image and concept, too, has led to major changes to make
profits in a relatively short period of time the Company has also become a
major competitor to airlines Malaysia Airlines (MAS) Berhad. He also pursued a
variety of risks in terms of customer criticism about his company's services
offering low cost flights. Customers also predicts that the company will lose
money and will not succeed. However, the forecast is not true at all because
the company is still strong until now.
2.1.5 VISIONARY
Tony Fernandes also
has an entrepreneurial visionary. Asia's leading airline was established with
the vision to enable everyone to fly or with the slogan 'Now everyone can fly'.
He decided to give the 3 billion people who do not get the maximum service as
poor connectivity and high fares. Many customers are satisfied with services
provided by airlines, which he did especially low-income groups to go to the
destination you want to target. Air Asia Berhad has broken the habit of the
global travel industry because of its business successfully grew rapidly to
become the best airline in the world.
3.
CONCLUSION
In conclusion, we can conclude that the
chosen entrepreneurs are among the best entrepreneurs in Malaysia. The
entrepreneurs have contributed significantly to the development of the national
economy. Generating a high income also contributed through business activities,
the activities carried out by the entrepreneurs. In addition, they also managed
to gain wide recognition until introducing Malaysia to the international arena.
However, the business carried on also markets products abroad and collaborating
with foreign investors in order to establish several new branches
outside-figure countries. The figure is also not only in Malaysia, but also
made his name internationally. Therefore, this proves that Malaysia has been
successful in business since time immemorial again. It as evidenced by the
achievement of these figures in the development of business from time to time
as well as improve the facilities in industrial fields such as labour,
infrastructure, technology, etc.
REFERENCES
- Irfan Khairi. 2010. Jadi Jutawan Sebelum Usia 30 Tahun Matlamat Irfan Khairi Tercapai. Diterima Daripada http://www.rahsiainternet.com/media/dewan-ekonomi.htm
- http://www.deherbs.com.my/v1/
- Air Asia Berhad. 2015. Directors Biography. Diterima Daripada http://www.airasia.com/my/en/about-us/ir-directors-biography.page
- http://www.psikoterapis.com/?en_apa-itu-proaktivitas-dan-apa-ciri-cirinya-,85
- Kamus Dewan Edisi Keempat, cetakan Dewan Bahasa & Pustaka, m/s: 1232)
- https://dahalmi.wordpress.com/2012/03/25/pasaraya-mydin-pengasas-dan-sejarah/
