INTRODUCTION
An
innovator or pioneer in a general definition is a person or an organization
which is one of the first to do something and often opens up a new area or
market for others and achieves an innovation. Meanwhile an entrepreneur is an
individual who own a new enterprise, venture or idea and took calculated risk
for a good output, Entrepreneur in English is a term applied to the type of
character who is willing to take risk and taking chances in a new venture or
enterprise and accepts full responsibility for the outcome. A French economist,
Jean-Baptiste Say is believed to have coined the word “entrepreneur” in the
1800. Innovator and entrepreneur do not share the same meaning but indeed,
there is a significant relationship between innovator and entrepreneur. A person
can be an innovator and entrepreneur at the same time.
In Malaysia, there are many
innovators and entrepreneurs that manage to gain recognition at the
international stage. Most of the entrepreneurs manage to achieve the success by
running businesses that sell either products or services. Those successful
people are Colonel Sanders, Steve Jobs, Tan Sri Mokhzani Mahathir, Dato’ Seri
Vida and Tan Sri Mokhzani Mahathir. However, some of them do not get fame by
running business. They would think out of the box and be innovative. Some of
the successful innovators are Eric Leong, Jimmy Choo, and Tan Sri Lim Kok Wing. Their creativity
in certain aspects such as interior design, shoes design and knowledge of
designing let the whole world see them.
Among
all these successful local innovators and entrepreneurs, they have their own
ways to achieve success. Everyone of them goes through different path of life.
Some may get it in an easy way, some may be not. They have their own reasons to
fight for, different motivation to work things out and various ways to achieve
it.
For
this assignmen, we would like to know details about the entrepreneurs and
innovators in Malaysia. The reasons and motivation that make them to be so
successful is something that we are interested in. The sharing from them about
it would be so precious that it would be guidance for us in life. Besides, we would
collect feedback and opinion from the public about why and how entrepreneurs
and innovators in Malaysia succeed. Hope that we can get the general
perspective about it.
TASK 1
(A) Entrepreneur
Traits
FAILURE IS AN OPTION
Colonel
Sanders
Failure is an Option, it is about an
entrepreneur who failed multiple times before they are successful. It is a
common thing for most entrepreneurs to fail before they become successful in
their business. Human learn from mistake. Failure should not stop an
entrepreneur from keep trying. Through a failure, entrepreneurs will be able to learn from their past mistake and
learn a better way to improve their sale, business, performance and
productivity.
This
entrepreneur traits is most suitable to relate with the most famous food
entrepreneur, Colonel Sanders. His life and business story is very stunning and
inspiring. It shows how hard work, dedication, ambition and dream can change
someone life and a world. His success story also remains also that it is never
too late to success and achieved our dream as long as we have the determination
and faith in ourselves.
Colonel
Harland Sanders is a founder of a very successful and famous fried chicken. He
start his business by travelling from door to door in houses and restaurant
around his area. Soon, he started to travel by car and cook his fried chicken
recipe on the spot at the restaurant and if the owner of the restaurant liked
his food, there will come into agreement and the owner will be selling his
chicken in their restaurant. Many people believe that he was turned down many
times before he was first accepted by a restaurant owner.
He
is a world-known figure Kentucky Fried Chicken (KFC) with the tagline ‘Finger
Linking Good’. He was turned down one thousand and nine times before his
chicken was accepted by the world. He started at the age of 65, but by the year
of 1964, Colonel Sanders already had 600 franchises selling his chicken brand.
Many people would think that it will be too late to start anything, either a
new career or a new business at the of 65, but it is a different story for
Colonel Sanders. He strongly believe there are no age limit or the phrase ‘too
late’ in the effort to achieve your dream. He also believe that every hard work
and dedication will be paid one day and that we should not give up too easily
no matter how many times we failed.
OUTCOME ORIENTED
Steve
Jobs
“Outcome-oriented” is synonymous
with “result-oriented,” “strategic,” and “effective.” It refers to philanthropy
where donors seek to achieve clearly defined goals; where they and their
grantees pursue evidence-based strategies for achieving those goals; and where
both parties monitor progress toward outcomes and assess their success in
achieving them in order to make appropriate course corrections. (Brest, 2012)
The entrepreneur which match the
outcome trait is Steve Paul Job. This is beacuse because from the beginning of
his career, Steve Jobs is very concerned with the level quality output. He always
wants to produce a product which could satisfy many consumers . Steven Paul Job
start the company named Apple Computer in 1976 along with his friend, Steve
Wozniak. They financed their
entrepreneurship through the family garage Jobs had and selling the scientific
calculator Wozniak had. The journey
started when they started making machines which were smaller, cheaper,
user-friendly and innovative. At that time they sold their personal computers
for $666.66 each and earned a profit of around $774.00. The company started
growing and then Apple Computers had its market value of $1.2 billion by the
end of 4 years from the start of the company. Jobs at that time was handling
the marketing department of Apple but then he became the CEO. (Bakshi, 2016)
PROACTIVE
Jimmy
Choo
Being proactive means, “creating or
controlling a situation by causing something to happen rather than responding
to it after it has happened”. This is a vital skill in the entrepreneur world.
A proactive entrepreneur is usually always planned ahead. These kind of
entrepreneur are always ready to face various expected situations and they
usually have a better and specific goal in their business. They know what they
want and what they need to achieve. They make a proper plan and took calculated
risk. (Hilils, 2014)
For instance, a proactive
entrepreneur are usually targeting a possible problem before they occur and its
solutions. They are also are being very precautionary and they alway have a
backup plan to face any potential situation and problem. A proactive entrepreneur also are very
organised and they make a list regarding a task that need to be achieved. They
will take a step to be at position that they want to be. They continuously seek
for an opportunity to develop their business and they are need to be a very
good problem solver too. (Hilils, 2014)
Jimmy Choo is chosen to represent
proactive entrepreneur trait because of his continoeus enthusiasm to learn in
making shoes. His father is a shoe maker and initially, he learn making shoes
from his father. In the early 1980s,
Choo decided to further his studies and made his way to England to
pursue footwear and shoe designing at Cordwainers Technical College in
Hackney (now part of the London College of Fashion). In order to pay for his
education, Choo took up several part-time jobs at restaurants and worked as
a cleaner at a shoe factory. (Khoo, 2015)
In
1986 after graduating, he started to work at a shop in Hackney which
he opened by renting an old hospital building. His turning point was when
his creations became featured in Vogue magazine in the 1988 issue. Even
Princess Diana of Wales took notice in his work around 1990 and
soon became a loyal customer.
OPEN RISK TAKER
CEO
KENCHANA SAPURA PETROLEUM, TAN SRI MOKHZANI MAHATHIR
Entrepreneur
is an open risk taker . Risk taker refers to an individual who calculated or
moderate risks to start and operate a business by calculating the cost and
benefits in any decisions that he needs to make. Entrepreneurship involves
accepting a variety of necessary risk such as financial risks, physical risks
and social risks depending on the field pursued by the entrepreneur.
Entrepreneurs often rely in intensive research and business experience before
engaging in any risky business decision.
For
example, Tan Sri Mokhzani Mahathir is figured as a risk taker entrepreneur. He
is CEO of Sapura Kenchana Petroleum which is very famous company of oily and
gasses in Malaysia. Even he is son of our former Prime Minister, Tun Mahathir
bin Mohamad, he is very humble and has his own creadibility to leading his
company. Every businessman wants to build his own empire in bussines, same goes
to Tan Sri Mokhzani. For him, to be a successful entrepreneur must have a
discipline and desire to make dream comes true. Other than that, an
entrepreneur also should not afraid to take a risk because every business have
a risk whether it is small risk or large risk. Before joining Kenchana
Petroleum in 2001, Tan Sri Mokhzani has experience up and down in corporate
world. He failed to regain control of 12.6 percent of shares in Tongkah
Holdings and 32.9 percent in Pantai Holdings during crisis in 1997. However it never takes away his will to
keep involving himself in local corporate world. He decided to resign his
position as assistant treasurer of UMNO Youth Malaysia as he wanted to
concentrate on his business that had been affected by the financial
crisis. This shows that Tan Sri Mokhzani was taking risk to left his position
just because want to concentrate to his business and now he was the successful
entrepreneur.
OBSERVANT
CEO STARBUCK, HOWARD SCULTZ
In
business, observant is an ability of entrepreneur to expect what will happen in
the future. A successful entrepreneur always use this traits. As an
entrepreneur, observant is important to achieve goals. An individual who has
foresight is an individual that has clear direction and potential to make his
bussines go further.
For
an example, we can refer to Howard Schultz as a trait of observant. He was born
on July 19, 1953. He is a chairman and
chief executive officer (CEO) of Starbuck Coffee Company. He also a
former owner of Seattle Supersonic. His
first venture in his coffe bussines, he actually very wise when he notice that
every street has coffee bar but they did not serve an excellent expresso. So,
he’s being observe this situation and wanted to change his coffee house to be
more comfort which is suitable for meeting places and public squares that were
important element of Italian culture and society. Eventhough he has to face
many challenges to stick for what actually he want, finally he success in his
business and can make Starbuck number one largest coffee bar in the world.
VISIONARY
CEO GO PRO, NICK WOODMAN
Visionary
is someone or something that think about future or advancements in a creative
and imaginative way. According to
business dictionary, a visionary also should come out with vision statement.
What is vision statement? It is an insprirational description of what an
organization would like to achieve or accomplish in the mid-term long or
long-term future. It is intended to serves as a clear guide for choosing
current and future courses for an action.
For
examples, visionary traits refers to Nicholas D. ‘Nick’ Woodman. He was born in
June 24, 1975. He is an American and philantrophist. He is a founder and GoPro CEO. He is grew up in Menlo Park. His
personal problem brought him to this creative idea. He’s not good to take a
great pictures and videos while surfing. After a few months intenses focus, a
prototype were introduced. In 2002, he founded camera maker after building
first prototype his mom’s sewing machine and drill. He released his first
camera, a 35 mililiter waterproof film version and sell it everywhere. Woodman
is now focused on building a bigger platform to allow GoPro users share video
easily. Now, GoPro has made Woodman worth $1.3billion. This is because his
visionary on what does he plan in his vision statement in the mid-term long and
long-term future. Finally he has achieves his goals .
NETWORKED
Mark
Zuckerberg CEO Facebook
Networking
marketing is a tactic single most powerful way to accelerate and sustain the
success of any individual or organization. Networking is s relationship that is
build for lasting and mutually beneficial. Network of the network also means
that the network business is a relationship which is generally based on
activities related to the business. It’s move of a business relationship with
parties outside the business organization. Parties involved with entrepreneus
in this network is that customer, supplier, banks, accountant, government,
business associations, professional bodies and the like. Business relationship
as a process of interdependence which continuous interaction and exchange that
took place between at least two individual. These relationships wiil create a
chain network of relationships between entrepreneurs and the exterior.
Mark
Elliot Zuckerberg or better known as Mark Zuckerberg DA14 born in May 1984 and
was born in White Plains, New York, USA. He is a computer program and Internet
entrepreneur. It is known because creating social networks Facebook status with
his friends Dustin Moskovitz, Eduardo Saverin, and Chris Hughes in 2004 when he
was a student at Harvard University. Mark was educated at Phillips Exeter
Academy and went on to Harvard University but not yet expired. He is chairman
and CEO of Facebook today. Mark is known as a smart kid who excels in classic
literature and is fluent in four languages.
As an example of a successful
entrepreneurs in the networks is the founder of Facebook. The name of the
Facebook is Mark Zukerberg. He was born in 1984 in New York. When he wanted to
wake up, he is a students of Harvard University. Facebook at the time it was
only used by Harvard students to interact with each other. After that, he began
to spread Facebook to other universities. The earliest universities that have
spread this is Stanford, Dartmouth, Columbia, Cornell< and Yale. Finally,
Facebook was opened to the public until now. Within 2 years after the famous
Facebook even offered by Google and Yahoo by nearly USD $ 1 Billion “ FACEBOOK IS NOT FOR SALE ” he said simply.
While many people said he was not relevant because it does nit selt up, but he
remained with the principle of “FACEBOOK IS NOT FOR SALE ”. After 3 years, Mark
Zukerberg is the youngest self-made billionaire crowded for “ World Youngest
Self-Made Billionaire “ by Forbes Magazines with an estimated network as $ 1.5
Billion USD. It shows Mark Zukerberg only use this type in informal networks as
more Mark Zukerberg initially launch site facebook that we along among
university students.
TEAM ORIENTED
Tan
Sri Dr Jeffrey Cheah Fook Ling is the founder and Chairman of Sunway Group
Orientation
team is working effectively with others. In general, team orientation should
use the power of individuals in the group to provide benefits to the group
(Sunway Group, 2015). This is because, orientation, teamwork is essential to
achieve the goal. They always work as a team in implementing an organization.
In addition, work in a team allows entrepreneurs to listen to the views of the
members of either team from subordinate employees or partners
(Jeffreycheahfoundation.org.my, 2015).
Furthermore,
work in a team also allows members of the team to exchange ideas or give ideas
to increase business but also facilitate the management of an organization.
Working in a team oriented environment can be very difficult, especially when
everyone in the group wanted to implement the best ideas, demonstrate their
ability to group and has a strong impact on the overall project and company
(Sunway.edu.my , 2015). Without a strong teamwork, it can be difficult for
managers and executives to determine which employees can complete tasks well.
In fact, working in a team can also facilitate and accelerate the settlement
process work. Working in groups can also strengthen the relationship between
managers and emplayees or partners.
Tan
Sri Dr Jeffrey Cheah Fook Ling is an entrepreneur who demonstrated his
orientation team, Tan Sri Dr Jeffrey Cheah Fook Ling is the founder and
Chairman of Sunway Group (Jeffreycheahfoundation.org.my, 2015). He was born in
Pusing, Perak and has six siblings. He pursued higher in Footscray Institute of
Technology, now known as the University of Victoria in Melbourne, Australia
(Sunway Group, 2015).
Tan
Sri Dr Jeffry Cheah Fook began his career as an accountant at a motor assembly
plant in Malaysia but soon quit her job to take care of Sunway Group. At 1974,
he founded the Sunway Group which today is one of the great conglomerate with
core businesses in real estate and construction. In addition to 12 established
business divisions include 50 locations worldwide with 13,000 employees (Sunway
Group, 2015).
Tan
Sri Dr Jeffrey Cheah Fook Ling is very committed to the work and contributed to
the exceptional durability and success of the group. As a leader, Tan Sri Dr
Jeffrey also uses a collaboration together with Tan Sri Sabaruddin Chik,
Minister of Culture, Arts and Tourism Malaysia and a member of the project
management team, onsite mining land with an area of 800 acres and is now
known as Sunway Resort Bandar Sunway in 1980 (Sunway.edu.my, 2015).
Company
Tan Sri Dr Jeffrey Cheah Fook Ling is Sunway group has become a successful
company (Jeffreycheahfoundation.org.my, 2015). This is because he is very
committed to practice the spirit of working in a team. Although Tan Sri Jeffrey
commitment to teamwork with staff of nearly 13.0000, the company has expanded
worldwide. It has been a core value for entrepreneurs (Sunway Group, 2015)
OPEN CULTURED
Tan
Sri Dato’ Loh Boon Siew CEO of Boon Siew Honda
Open
culture in the context of entrepreneur is an entrepreneur who can be open or
have a good behavior toward employees and customers. Openness is meant to give
and receive all suggestions and complaints with positive thoughts in order to
correct the deficiencies that exist in the company. An entrepreneur must not
only be willing to listen to the views or ideas from individuals in positions
of responsibility, but the views subordinates or younger workers should also be
taken into account in making a decision. This will stimulate an increase in
sales when a product is produced in both added functions and their use in
accordance with the development of modern times.
Tan
Sri Dato’ Loh Boon Siew was born in Fukian province in China on 1916. He and
his father came to Malaysia and he started to work as a mechanic. To earn more
income, at night he washed the bus and the payment only 10 cents for each bus.
On 18 years old he set up a workshop and purchased 11 buses by using his saving
money RM 2,000. Operating through his Penang Yellow Bus Company Sdn Bhd after
that within three years, the thriving company had a fleet of forty-one buses.
Not only Penang Yellow Bus Company Sdn Bhd and his mechanic shop, he also had
ventured into sale of used cars, spare parts, batteries and tires. But on 1942,
his money was confiscated by the invading Japanese army. In 1945 the Japanese
were defeated, and he started selling bicycles, tires and motorcycle
accessories, and soon he expanded his business to used cars, transports and
buses. (Menkhoff & Solvay, 2012)
Examples
such as Tan Sri Dato 'Loh Boon Siew the Boon Siew Honda Founder. He is
co-founder Soichiro Honda Honda Datuk Loh Boon Siew Hui comes from the village,
district Sial, a region that is considered the poorest in China at one time.
Family life is very poor Datuk Loh cause he never had the opportunity to go to
school. Since childhood he worked to find additional money to family income.
Various jobs he never did. At the age of 18, he was keen to run their own
business and often think of a way how to get the opportunity to do so. Various
efforts he made to achieve that interest. After the second world war ended,
Datuk Loh has had his own business by opening a used car shop and become
distributors some type of British motorcycles.
In 1958, he traveled to Japan to eat
the wind and saw a Honda motorcycle that has never been used in Malaysia and
think might get a good market if brought to Malaysia. Tan Sri Dato Loh Boon
Siew has decided to make a deal by ordering 12 units of motorcycles. The
motorcycle then sold to his friend without taking any profit. Honda brought
ridiculed by people who consider it useless and perishable, but it did not
dampen his desire to introduce a motorcycle so that by the year 1963, Honda
became the most popular vehicle.
He was the one who managed to put the
Honda as the third largest vehicle sold in this country in recent years. This
success proved that he is very open minded and now he has reason to be proud of
its success in the realm of business and corporate leaders, thus placing him as
one of the richest in Penang and among the 10 leaders of Malaysia's leading
entrepreneurs.
(B)
ENTREPRENEUR THAT DEMOSTRATE FIVE ENTREPRENEURIAL TRAITS
BIOGRAPHY
DATUK SERI VIDA
Name :Datuk Seri Dr. Hajjah Hasmizah
Othman
Originate :Machang, Kelantan
Age
: 44
Siblings :Youngest from three sibling
Education :Degree
of Education (Malay Literature and History) from Universty Sains Malaysia (USM)
and Master Doctor of Philosophy (PhD) degree in Biology from the University of
Monash
Career :Entrepreneur
health products and cosmetics
INTRODUCTION OF DATO’
VIDA
Intrepreneurs
for Vida Beauty is Dato’ Dr. Hasmiza Othman, popularly known as Datuk Seri Vida or Dr Vida
after her Ipoh-based cosmetics company Vida Beauty Sdn Bhd, Hasmiza has gained
a name among Malay households nationwide for her sponsorships of TV shows with
its tagline “Qu Puteh, Qu Puteh, barulah putih” that easily beats a tattoo into
its viewers’ brains. This is because she was recognized with production and
quality of its products are increasingly prominent in our homeland. She is
native of Kelantan and has been in the business world is almost 16 yaers old.
She holds a Bachelor in Business Education of University Sains Malaysia in
Penang. There are further studies which make her ger her PhD in biology at the
University of Monash.
Before
she started this business she was one of the trainer at the National Secondnary
School Poi Lam, Ipoh. She
sacrifice her career has yielded very worthwhile to get all her business planning
arrangement. With a bold effort, she managed to open a total 38 branches around
Perak, Kuala Lumpur, Johor, Kelantan, Kedah and Penang.
Vida
Beauty was established on 1st December 2006 on a small scale and has
begun to expand its retail widely on 1st May 2008. So far, Vida
Beauty has a total workforce of 120 qualified workers and highly viscous in
helping to improve the targets regulated by the management company.
5
ENTREPRENEURIAL TRAITS THAT DATO’ VIDA DEMOSTRATES AND HOW ASSIST THEM TO BE
SUCCESSFUL IN THEIR VENTURE
OPEN RISK TAKER
When
an entrepreneur involved in an investment , all arrangements have been taken
into account in order to avoid the risk that entrepreneurs should not faced.
Each entrepreneurs need to think wisely in doing an action and thinking about
potential risks.
As
example, Dato Seri Vida get outstanding money of RM500,000 she ventured to buy
ads to promote their products. But ultimately as a result of advertising, she
suffered heavy losses when the product is directly received no responds she has
suffered high-losses reached millions of Ringgit due to sponsor and create ads
to be. She was determined to use a more efficient way. Finally, she was
successful where its sale have sored and are in high demand.
OPEN CULTURE
Open
minded culter is a concept where knowledge should be freely distributed or
open. Open-minded entrepreneurs like this will always be an open mind. An
etrepreneurs will use the idea of self and independent-minded to the success of
her business.
For
example, Dato Seri Vida fell happy and gratefull for the result of its products
have been able to help the various layers from the young to the old who have
health problems to return to live as usual. This can be prove by the testimony
of Pamoga users that showed 98% back to normal.
FAILURE IS AN OPTION
Failure
in business is common to be faced by every entrepreneur. Failed once does not
mean it will continue to fail until the end. The failure of the positive side
can be used as motivation to continue the business. Motivation is also a recipe
for an entrepreneur to run the business. An entrepreneur cannot easily give up
and think negatively because the entrepreneur must have the attitude to
continue to strive for success in future.
For
example, while she was working and educator, she has been working and has some
saloon. After any saloon saloon she tries to make its her own product. She runs
of RM800,000 for her product but not a penny of return on investment. After
that, she did not despair and had the idea to market products for the elderly
that is good. She produces Pamoga 500 bottles a years and finished products
despite various marketing she was doing.
TEAM ORIENTATED
An
entrepreneur that takes into account the opinions of others in a group or
organization has calculated the teamwork. A group consists of individuals who
work together to achieve a vision and goals. Teamwork attitude exists when an
entrepreneur does not only take into account its own opinion, even take
suggestions from the group in making a decisions. Each member in the group have
contributing factors such as skills and experience to the success of a program.
Businesses that emphasized teamwork to maximize individual strengths in each of
its employees. When each group is working effectively, the resulting product
will collectively bigger than the sum of individual efforts. There are several
ways to promote employment teamed.
As
example, Vida Beauty now have more than 400 stockiest all around Malaysia
including in Brunei and Singapore with 130 workers. Vida beauty was established
on 1st December 2006 on a small scale and has begun to expand its
retail widely on 1st may 2008. With the proper planning and
effective plan, Vida Beauty has managed to have 38 branches in several states
of Perak, Kelantan, Penang, Johor, Kedah and Kuala Lumpur. So far, Vida Beauty
has a total workface of 120 qualified workers and highly viscous in helping to
improve the targets regulated by the management company.
VISIONARY
Every
individual must have the vision of themselves to achieve success in their
lives. Vision plays an important role in the life of an individual to make a
person have on identity. Vision is the foresight of a person as well as with
regard to future development in order to achieve an important goal. Someone who
has a goal will keep trying to achieve success and the courage to face the
problem.
This
can be clearly we see that Datuk Seri Vida this an individual who has a
high-minded attitude although she has experienced various obstacles and
received condemnation from various quarters. She never give up, but she
continues to rise with the new design.
For
example, after herself had advertised her products for two days in a row, have
yielded so surprising. Where on the third day, she had visited the store and
she found out the customer was so crowded because they want to buy a product or
better known as Pamoga. From there she achieved success after success. It is
clearly that an entrepreneur needs to adopt a visionary, risk taking and not
easily discouraged.
Conclusion
After
completing this task, the conclusion was made that someone involved in the
entrepreneurial world has managed to educate themselves to always strive to be
forward. Entrepreneurship has also been implementing the integrity of the
entrepreneurs themselves. , Each individual has the opportunity to become a
successful entrepreneur if the individual is applying the characteristics of
entrepreneurs in their lives because most entrepreneurs are not born naturally,
they require training, guidance, confidence and so to achieve the success they
dreamed
In
addition, individuals who engage in business will always hone their ideas to
constantly innovate in their business. They will always try something new to
expand their business. Learning from the mistakes that have been done also is
one of the most admired after gaining success in business in future
undertakings by entrepreneurs.
This
clearly proves, by engaging in business can make a person more creative in
thinking. High spirits would also exists within successful entrepreneurs even
aware of the existence of a potential risk in the face. The success of an
entrepreneur is not present for individuals who are dependent on others without
any effort from yourself.
Finally,
teach entrepreneurship as a career in itself. Be an individual who started a
good thing at the same time can also provide benefits to other parties.
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