The concept of entrepreneurship was first established in the 1700, and the meaning has evolved ever since. Many simply equate it with starting one’s own business. Most economists believe it is more than that. People who own, operate, and take the risk of a business venture are called entrepreneurs. They are enganaged in entrepreneurship, the process of running a business of one’s own. Entrepreneurs come from all types of backgrounds and create all kinds of businesses. People of all ages choose to become entrepreneurs. Every entrepreneur has these qualities in different degrees. But what if a person lacks one or more? Many skills can be learned. Or, someone can be hired who has strengths that the entrepreneur lacks. The most important strategy is to be aware of strengths and to build on them. Entrepreneurs are non-conformists. Being non-conformists, they are innately driven to differentiate from the status quo. They don’t listen when someone tells them something cannot be done. Entrepreneurs are motivated by achievement rather than power or money. They set high goals that they can reach through application of their skills. They are more interested in creating something than getting rich (which ironically, sometimes is the result).Entrepreneurs prefer to do new things, or to do familiar things in a different and better way. Entrepreneurs have a preference for innovation. Entrepreneurs have high uncertainty tolerance. They are willing to accept that they cannot predict the future, but recognize that they can guide it through their actions. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience.But research indicates that most successful entrepreneurs share certain personal attributes, including creativity, dedication, determination, flexibility, leadership, passion,self-confidence,and smarts. But in this discussion, we will focus on just a few of traits include networked, open risk taker, observant, visionary, failure is an option, open culture, outcome oriented, team oriented, and proactive.
Tuesday, 22 November 2016
A SUCCESSFUL ENTREPRENEUR
Name: Tan Sri Mokhzani Bin Tun Dr Mahathir
Age: 55 years old
Status: married
Education : Bachelor of Arts / Science, University of Tulsa
Company : Syarikat Minyak Dan Gas Sapura Kencana Petroleum
Total wealth : AS $ 1.2 Bilion (until 2014)
1.OPEN RISK TAKER
Tan Sri Mokhzani Mahathir has open risk taker straits. Many challenges that he was done to achieve his successful. For examples, he recently resigned from a Board Sapura Kencana, but still maintain 9.12% stake in the company through its New Khasera. As a result of the fall in world oil prices and its impact on the stock Sapura Kencana. Forces magazine ranked Mokhzani put in place the 26th richest person in Malaysia with its value fell to us$700 million (RM2.52 billion). In this situations, he must takes risks to achieve a benefits and be patient to continue his business. With its characteristics, he must be high-spirited to develop the company to raise the name of Malaysia.
2. NETWORK
Tan Sri Mokhzani Mahathir has broad network with different countries.Sapura Kencana company Isactive in Thailand, India, New Zealand, China, Australia, Middle East, America and Brazil. Therefore, he established a good relationships with the whole world companies. He also established a group and organisation so that his company will be thrive and create cooperation among shareholders. With its characteristic, he should has self-confidence and ensure that the network would be built not in vain.
3. VISIONARY
Tan Sri Mokhzani Mahathir has a highly visionary. The profits distributed a little to the government. He did not use all his profits to his family only. His company paid taxes Malaysia RM165 million to the government in 2013 to the construction of public infrastructure for a people. With its characteristics, Mokhzani Mahathir must be give a lot of charity to the poor so that his business will be more advanced and not be a selfish.
4.PROACTIVE
Tan Sri Mokhzani Mahathir is a proactive person. The basic level his company developed is more geared toward solving problems of engineering structures fabrication of highly complex and complicated and at the same time he does not compromise the safety and quality set. Kencana Petroleum excellence providing the best services in petroleum engineering and fabrication has attracted many foreign companies to create cooperation with them. With its characteristics, he should always proactive, rasional and sensible so that his company will be more famous.
5.TEAM-ORIENTED
Tan Sri Mokhzani Mahathir has a team-oriented principle.He find Chong HinLoon, fouder of Kencana Petroleum and now an adviser and Deputy Executive Chairman of Kencana Petroleum Berhad. At that point, ChongHin Loon was trying to find partner among the indigenous. He meeting with the already versed in the affairs of petroleum engineering really bring good luck to Kencana Petroleum. With its characteristics, he should always find a good business person to make a team so that his company will get more profits.
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OUTCOME ORIENTED
Datu Wira Maznah Hamid
The concept of outcome oriented is individual or organization work with a major achievement on the desired result. Individual or organization must have set a great result together to achieve the goal-oriented. Outcome oriented are same with goal-oriented for its elaboration, especially regarding the benefits to be gained if the goal can having achieved. The main result is they tend to focus on the goal of an activity or technique involved. Individual or organization would think the best methods that can be more valuable for what results they are trying to achieve in the end activities. Outcome oriented also give benefit to an entrepreneur where in the outcome frame, it involves the evaluation of the results of activities and techniques used to achieve the goal. In addition, an entrepreneur with outcome oriented threat need to be aware of the threat in surrounding to make sure that can be handle and shape the future that they want it to be. Every action that they take will influence the position of the business.
Datuk Wira Dr. Maznah Hamid is Securiforce Group Executive Chairman. She established and steered Securiforce from an unknown entity 35 years ago, to become the largest Security provider in Malaysia, successfully raising over more than a hundred other competitive companies of a similar nature. She started her business with merely RM5000 from her savings compared to other companies of a similar nature that began with capitals between RM500, 000 to RM1milion. She now holds nearly 65 branches with employees reaching to almost 6000, hundreds of firearms and numerous armoured vehicles. Sacrifice Group has also expanded their services to our valued customer by offering a Global Logistics and Supply Chain Services with the establishment of Securiforce Logistics which the headquarters in Kuala Lumpur and operating their owned overseasoffices in Singapore, Thailand, Indonesia, Vietnam, China, Hong Kong, Korea, Turkey. The company also have registered his representative offices in Philippines, Germany and United Kingdom. Datuk Dr. Maznah also has the vision to have collaborated with few potential partners in the Middle East, Europe and USA to enhance our logistics services in the respective country. For her outstanding leadership qualities and distinguished entrepreneurship, she was invited to introduce the motivational programme at TV3 in 1990, where she was made Motivational Counselor and Success Counselors at both RTM and TV3. Hence, we quite often hear her familiar voice over the radio, and see her appearances on television.
References:
http://securiforce.com.my/ver3.0/profile-of-datuk-wira-dr-maznah-hamid/
NETWORKED
Datuk Siti Nurhaliza
Generally, the network means of interaction with other people to exchange information and build relationships with each other, especially for someone pursuing a career in various businesses.Entrepreneur uses the network as a tool to interact through socialmedia. In companies, networks play a role to make their businesssuccessful. For business network, these entrepreneurs reveal the ability to access external information and broader knowledge about their entrepreneurship. Entrepreneurial networks includes links to organizations, groups, companies, and also to others who help them establish the business.Besides that, it is important for entrepreneurs assert themselves in order to access to get benefits information. In network connection, the network size of a country is very important to spread the information as widely networks. When the network size of company large, there are many people can assess about their company and can know about their business. Entrepreneurs will have a higher number of contacts that will in turn increase the chance to receive and use information that is useful for the growth business.
Dato Siti Nurhaliza Bt Tarudin is the one who has few networks to work on her new business. She has participated in business cosmetic industry since March 2010. The cosmetics product is known as simplicity. The cosmetics are produced in Korea and with the help of well-known local entrepreneurship, Datuk Seri Mohammad Khalid Jiwa as she ventured into the cosmetics industry after two years of research with AC Nielsen to study the market and targeted customers. AC Nielsen is a global marketing research firm which located in New York City, United States of America. Simplicity Sdn. Bhd has come out with SimplySiti Skin Care and Make-up products that scientifically-designed and clinically-proven by the international cosmeticians. All her product range such as Simplicity C Bright, SimplySiti New Age and SimplySiti Acne Solution and Simply 5creams. Simplicity has over 400 outlets in Malaysia with key retailers; Aeon, Aeon Big, Aeon Wellness, Guardian, Keluargaku, Royale Pharma, Sogo, Tesco and Watsons. The brand is available for online purchase and with selected digital trade partners.
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OPEN RISK TAKER
Datuk Sani Salleh
Every person that enters the business world wants to be a successful entrepreneur. But, there are no easy ways to become a successful entrepreneur and recognized public except working hard and not give up. One of the characteristics that entrepreneurs should have to be success is open risk taker. The meaning of open risk taker is the act or fact of doing something that involves danger or risking order to achieve a goal.
One of the entrepreneur that have characteristics as successful entrepreneur is Datuk Wan Mohammad Sani Salleh, who is the managing director Sani United Sdn Bhd (SUSB). In 1994, He wasfinishing his Diploma in Business Management at Sunway College. Datuk Wan Mohammad Sani Salleh starts the business by opening repair workshops in Kuala Lumpur and Terengganu. After that, he tries the new business that relates to his interest which is a bus. Since ten years ago, he has become well- known when the red express bus engraved with his own name which is ‘Sani Express’.
Datuk Sani also a perceptive person that always dares and confident with what he does. Once he has made a wrong decision, then he ‘fell’. But that’s not the ending of his career life, he continues his business and its give him a lesson that before make any decision he must think very well. He works so hard to achieve his dreams to have his own express bus business and that business shows the fabulous result after three years. Datuk Wan Mohammad Sani Salleh is someone that not afraid to face the failure and willing to face all the risk. He bears a great risk because the loan was made, but he is brave and confident with his decision. Now, he has shown that he takes the right path because he gets the extraordinary success with the establishment of Sani Express.
The conclusion is, to be a successful entrepreneur, the courage to take risks is very important. Without this character, the entrepreneur will fail to explore the new things for their business. Willing to take the risk with all decisions that has been made is the first step to have the success business.
Reference:
http://potatololipopcuppa.
Reference:
http://potatololipopcuppa.
OPEN CULTURE
Vivy Yusof
Open culture is one of the characteristics that should have as an entrepreneur. Someone that wants to be an entrepreneur, they should always know everything that happens to the surrounding. Open culture can be considered as a concept that according to the knowledge should be spread freely. Open culture can be grownthrough developing, altering or enriching already existing works without being restricted by rules linked to the legal protection of intellectual property. Every company that enters international market have to face a lot of cultural challenges. Know and understand the characteristicsof every culture that have in the world are important to enterinternational markets.
Every entrepreneur that wants to success should practice the concept of open culture. One of the entrepreneurs that have this characteristic is vivid Yusof. She is the founder of e-commerce website FashionValet.com. Upon graduating with a law degree at the London School of Economics in the United Kingdom (UK), she decided the legal life didn’t for her and she return to Malaysia to work with her dad’s company the Proven Group which is in property development.The entrepreneurial spirit that she has made her decided to have her own business. She came up with the idea with her husband to have an online store. FashionValet was born in November 2010. It is the first multi- label online site in Malaysia at the time and only had 10 brands. But, now FashionValet have over 400 brands and offices in Malaysia and Jakarta, Indonesia.
Without facing any challenges, an entrepreneur can’t be successful.Vivy Yusof has faced many challenges, especially in their early days. Starting her own company and creating a whole new is terrifying, but with the right determination, support and a little bit of luck, shebelieves that she can take on any difficulties that come in her way.FashionValet have many competitors because the barrier to entry to start an online shopping website is non- existent. Anyone can do it. Even have many competitors, Fashionvalet have been around 5 years and growing the revenue more than double each year. With the competition, Vivy Yusof forcedto innovate, to think, to re- strategies to survive. FashionValet were strong because it has the best team with fresh ideas and commitment to work hard because they love what they do.
Grow up in entrepreneurial families makes her more motivate to be an entrepreneur. With her creative idea and hard work she is a successful entrepreneur that well known in Asia. She had said that to be a successful entrepreneur, it's the need to always want to win and be number one. Once you have this drive, you will want to see your business do well and you do not need any other motivation but yourself. Vivy Yusof shows that to be an entrepreneur, open culture is a one of the important characteristics.
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VISIONARY
Henry Ford
Any success in life must always begin with a vision. A visionary entrepreneur is one who is able to see what others are not able to see. In other words this class of entrepreneurs have the right kind of picture in their mind that lets them know what will be the outcome of their business venture. While every business in an investment, entrepreneurs are actually into building an asset. When the business unfolds and flourishes the way you wanted it to, then you would either prefer to keep it or sell it. If you are keeping it, the meaning is you are buying your business yourself. Remember, you will always want to buy something that is really worth the price and this should be the prime concern of an entrepreneur in developing the business to excellent heights. A visionary entrepreneur does exactly this when he ventures into his business idea.
Henry Ford is considered one of America’s foremost industrialist who shaped and influenced the entire globe. His leadership forged so many aspects of everyday life, that it is hard to image a world without his impact.The unique vision he had, combined with the ability and knowledge to make his dreams happen are what set him apart from other inventors.
He envisioned new processes to create vehicles that would speed up the auto making process and make vehicles affordable for many. Ford had a dream that the automobile, once it was mass-produced and owned by many people, would become a useful tool to advance society.
He helped implement techniques like assembly lines that made automobile manufacturing a faster and more economical undertaking. This allowed automobile pricing to go down to the point where many people could afford to buy and drive cars.
One of Henry Ford’s other visions was of gas stations, which would make it convenient for new automobile owners to get the fuel they needed quickly and cheaply.He was also instrumental in seeing that roads were well made and that enough roads would be created to give people good, viable pathways to use their automobiles.
He also had visions of selling automobiles that were made by Ford to other countries, helping other economies to advance as well.The Ford Motor Company, founded in 1903, soon became an international companyThey included Europe, Brazil, Egypt, Indonesia and China. Ford was not only competitive with many other auto makers, they often exceeded competitors in sales and innovation..
Biography of Henry Ford
Born on July 30, 1863, near Dearborn, Michigan, Henry Ford created the Ford Model T car in 1908 and went on to develop the assembly line mode of production, which revolutionized the industry. As a result, Ford sold millions of cars and became a world-famous company head. The company lost its market dominance but had a lasting impact on other technological development and U.S. infrastructures.
Famed automobile manufacturer Henry Ford was born on July 30, 1863, on his family's farm in Wayne County, near Dearborn, Michigan. When Ford was 13 years old, his father gifted him a pocket watch, which the young boy promptly took apart and reassembled. Friends and neighbors were impressed, and requested that he fix their timepieces too.Unsatistfied with farm work, Ford left home the following year, at the age of 16, to take an apprenticeship as a machinist in Detroit. In the years that followed, he would learn to skillfully operate and service steam engines, and would also study bookkeeping.
In 1888, Ford married Clara Ala Bryant and briefly returned to farming to support his wife and son, Edsel. But three years later, he was hired as an engineer for the Edison Illuminating Company. In 1893, his natural talents earned him a promotion to chief engineer.All the while, Ford developed his plans for a horseless carriage, and in 1896, he constructed his first model, the Ford Quadricycle. Within the same year, he attended a meeting with Edison executives and found himself presenting his automobile plans to Thomas Edison. The lighting genius encouraged Ford to build a second, better model.
After a few trials building cars and companies, in 1903, Henry Ford established the Ford Motor Company. Ford introduced the Model T in October of 1908, and for several years, the company posted 100 percent gains.However, more than for his profits, Ford became renowned for his revolutionary vision: the manufacture of an inexpensive automobile made by skilled workers who earn steady wages.In 1914, he sponsored the development of the moving assembly line technique of mass production. Simultaneously, he introduced the $5-per-day wage ($110 in 2011) as a method of keeping the best workers loyal to his company. Simple to drive and cheap to repair, half of all cars in America in 1918 were Model T's.
Henry Ford died of a cerebral hemorrhage on April 7, 1947, at the age of 83, near his Dearborn estate, Fair Lane. Ford, considered one of America's leading businessmen, is credited today for helping to build America's economy during the nation's vulnerable early years. His legacy will live on for decades to come.
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