1.0 INTRODUCTION
Entrepreneurs can define as an individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn. Among the examples of entrepreneurs who holds the youngest billionaire in Malaysia,
2.0 NINE ENTREPRENEURIAL TRAITS
2.1 Networked
Networked is one of the traits that should be on every entrepreneur to make any business run smoothly and be successful in expanding the product produced. If the entrepreneur has a good network of users from outside or even inside, it will be easier for entrepreneurs to gain an edge on the business opportunities and solve problems on their business. A well-networked relationship will allow them to get the support and cooperation of the network circle. Thus, every entrepreneur needs to build networking skills, as it will be the catalyst to achieving their goals and business objectives. Entrepreneur network is divided into several types, namely personal networks, public networks and business networks.
Personal Network refers to an informal network. This type of network involving direct contact between entrepreneurs and confronted with certain parties such as parents, friends, family, former teachers or lecturers, members of social associations and youth groups. These parties are usually the first source of supply for entrepreneurs to get help at various stages of starting a business.
The public network refers to public resources that enable entrepreneurs to enhance their knowledge, as well as the intermediate information with certain parties such as magazines, newspapers, the Internet, books, and TV. It also includes can be obtained through seminars, workshops, and associations. Meanwhile, the business network is an association of entrepreneurs with the business outside of the organization such as customers, suppliers, banks, accountants, government, business associations, professional bodies and others.
Founder of Alibaba.com, Jack Ma is the entrepreneur that has an extensive network. This is evident when he decided to create a "homepage" for China in the Internet, family members willing to lend him money as capital. Family members showed that fully support even though they do not know what the Internet and the "homepage". In 1995, he needed a capital of RMB20 thousand to start its Internet business. He spent his savings of RMB6.5 million and a loan of RMB13.5 thousand of his family members. This has proved Jack Ma has a strong personal network.
After getting their money, Jack Ma set up an Internet business company. With the help of his friend, he sent the manuscript to the newspaper, China Trade News and get support Deputy Editor, Shun Yan Jun of the company. With the help of Shun Yan Jun, Jack Ma get the chance to explain the Internet. With the help of his friend, he got the chance one by one to develop its Internet business.
Therefore, he always gives talks to share with people not only focus on strategies to reap the maximum benefits, also need to build their own social networks. This is due to the extensive network allows a person to obtain help and support in a timely manner, regardless of mental, physical or financial.
2.2 Open Risk Taker
For them who want to start a business must have the courage to face any risk. This is because, as an entrepreneur, there will be fluctuations in managing the business. Therefore, they must be willing to face all obstacles and dangers, losses and competition. Entrepreneurs who take risks are individuals who dare to face failure because they can learn through failure and make it as a lesson that can be avoided in the process of product innovation beyond.
One of a successful entrepreneur in Malaysia who is known for the famous trademark "Qu Puteh Qu Puteh Barulah Puteh" Dato 'Seri Dr. Hazmiza Othman, better known as Dato 'Vida is a famous cosmetics entrepreneur in Malaysia. She is an entrepreneur who dares to take the risks in her business as an entrepreneur in cosmetics field, especially in Malaysia is now a range of cosmetics that have been developed by other entrepreneurs in Malaysia. A deep interest in this field made she was willing to leave the world of educator and choose salon business as a career choice. A wave of beauty products from the abroad demand made her bold in its own production beauty products on a small scale.
Things began to favor her when she began the long strides of her career by becoming a lecturer at the National Vocational Training Council (VLK). With arrears of RM 500,000, she ventured to buy ads to promote her products. However, she has suffered huge losses due to no response from the consumer. This loss, however, was unable to break her spirit to continue to do business. From this experience, she was provided sponsorship in popular TV programs such as AJL29 and Gegar Vaganza. And for the feedback, tv station should follow her way. And in that way, once she has made advertising a household product and the product sales soared so much that she was forced to distribute her products to stockists in the quota.
2.3 Observant
Thus with the sharpness of observation indirectly will be able to identify the problems to be faced and can finish with the best methods that do not affect the product. In this case, the entrepreneur must have a high sharpness of observation as the keen power of observation by us to each situation will make an entrepreneur it can improve the performance of indirect products or objects that they produce something very interesting to the customer.
Howard Schultz a successful entrepreneur in the United States and intelligent observation market. He is the owner of the cafe chain coffee drinks market leading Starbucks. It was built with the concept as a "third place" for everyone to visit the home and workplace. He wanted to create an "experience" unique for each customer visit and as a place to relax at the Starbucks. It is one concept so strongly attached to Starbucks customers are attracted to Starbucks.
Starbucks not only sell coffee but also as a place where visitors can surf the Internet. He found that the Wifi service and environment is of importance for the present generation. So, Starbucks also offers WiFi service so successfully attract generation Y to sit longer in Starbucks outlets and so can sell more coffee. Starbucks comfortable interior atmosphere caused many who like to relax at home or had a brief meeting.
Through observation Howard Schultz, Starbucks Card was issued to facilitate the customers and as a means to maintain customer loyalty to Starbucks. Starbucks Card is a program that provides superior value cards, gift support, and increases the frequency of visits to the store by the card holder and integrated with their mobile applications. Careful observation of his business operations finally meets market demand. In conclusion, Howard Schultz is an entrepreneur who is observant we should emulate as these features are very important for an entrepreneur to meet the demands of society and the market.
2.4 Visionary
That can be related with entrepreneur, Tan Sri Tony Fernandes who is Air Asia group CEO. Together with partners,he founded Tune Air Sdn Bhd, with a vision to democratize air travel and fee it from the clutches of the elite by offering low fares and high-quality services. They bought it but loss-making Air Asia from its Malaysian owner DRB-Hicom, for token RM1(USD 0.25 CENTS) ,and agreed to take on the airline`s RM 40 million debt. Next, driven by Fernandes and with the help of his partners, Air Asia repaid that debt in less than two years despite the fact that it was operating in an extremely challenging environment in the post on 11th September 2001. It started with two planes (Boeing 737-300 `s),one destination (Langkawi Island) and a staff of 250. It show if we have a vision or target and we do with discipline it can make our dream came true.
2.5 Failure is an option
The definition of failure is a lack of success without effort and option is what your choice for the result. Besides that, failure can be devastating, but it can also make us stronger and smarter. The path of entrepreneurship is equal parts rewarding and challenging. The obstacles and setbacks along your path to success are always opportunities for growth, change, and improvement, but let face it sometimes your spirit falters when you`re in the midst of a tough spot.
An example of an entrepreneur is Dato` Jimmy Choo Yeang Keat founder of brand ambassador of Jimmy Choo, it refers to the story of his life after graduation, he was trying to open shoe stored with rent a former hospital building was abandoned. He very disappoints after four years the sale of its very depressed. Although, his designs have covered a famous fashion magazine in the UK and the name of Jimmy Choo is well-known, but he was still disappointed because sales had declined.
But with his attitude that does not easily give up, he continues to learn from past failures and work even harder. After four years, the fate of doomed Jimmy Choo changed when Princess Diana was pleased with his designs and then buy it. Ever since that day, Princess Diana continues to fall in love with Jimmy Choo brands. Jimmy Choo name and its sales continue to soar away. Now Jimmy Choo brand associated with style, luxury, and authenticity, as well as into a frenzy of artists and celebrities around the world.
Various challenges have been met by Dato 'Jimmy Choo, but thanks to his determination to overcome many obstacles in the pursuit of his ambition to make the brand of Jimmy Choo to continue known in the eyes of the world until now. Therefore, every challenge and failure is an initial step to success
2.6 Open culture
The definition of open culture is a concept refer to which knowledge should be spread freely and its growth should come from developing ,altering or enriching already existing works on the basis of sharing and collaboration without being restricted by rules linked to the legal protection of intellectual property. Beside that , in a context of globalization,the consequence is that all citizens should have equal access to information.
Datuk Steven Lim,he was the founder of secret recipe and also was a prominent entrepreneur who has an open culture to deliver satisfaction and comfort to all our diverse communities by the culture of their respective countries. After that, he is wise to seek opportunities to complement the lack of something in the food business and seek to establish a new concept of appropriate globally around the world. Cakes become the product of choice primarily because even coming from the West, but it has become a universal food. Not only that, this product is also included in the product category of fun and interest all ages.
2.7 Outcome Oriented
An outcome-oriented entrepreneur is an entrepreneur who has a clear sight of his/her goals. Their goals are usually long-term, therefore they need to be the focus and have a really concrete destination of the outcome. They don’t waste their time thinking about the problems in hand, rather they find solutions and alternatives that will surely lay waste the problems to get to their targeted results.
An example of an outcome oriented entrepreneur is Oprah Winfrey. She is not just an entrepreneur but a talk show host, author, philanthropist, actress and much more. She would fit this trait because she was doing and influencing so much, the outcome of her actions is just superb. The Oprah Winfrey show had such a massive positive influence on society that it had broken many social and cultural barriers.
2.8 Team Oriented
Konosuke Matsushita, known as the ‘God Of Management’, is the founder of Matsushita Electric Industrial Company (makers of Panasonic, Technics, and Quasar brand products). Konosuke Matsushita became nearly obsessed by the image of happy, hard-working people who donated their time to the temple when he visits a temple of the Tenrikyo sect. As a result, he concludes that people will be more productive and more satisfied if the corporation could be made meaningful like a religion.
Besides, Konosuke Matsushita also drafted seven principles to guide him and his workers. It is a set of standard for the employees’ proper mental attitude for their daily work which includes a contribution to society, fairness, and honesty, cooperation and team spirit, untiring effort for improvement, courtesy, and humility, adaptability, and lastly gratitude. The principle has renamed to ‘Seven Spirits of Matsushita’ because of the guiding principles are such powerful statements and an extension of the Japanese cultural into business.
Wealth for society as well as shareholders and work to alleviate poverty is what Konosuke Matsushita believe that a company should build. His business philosophy led to paternalistic leadership. Paternalistic leadership is a managerial approach where employees are viewed as part of a ‘family’ within the company.
2.9 Proactive
Proactive employees generally do not require to be asked to act, nor do they require detailed ordinant dictations. Proactive demeanor can be contrasted with other work-cognate demeanors, such as proficiency, i.e. the fulfillment of prognosticable requisites of one’s job, or adaptability, the prosperous coping with and support of change initiated by others in the organization. In regard to the latter, whereas adaptability is about responding to transmute while proactively is about initiating change. Proactively is not restricted to compartments.
Employees can be proactive in described their role by the way they perform a task to be more efficient. Likewise, demeanor labeled as Organizational Citizenship Behaviour (OCB) can be carried out proactively or passively. For example, the altruistic OCB can be proactive in nature example offering avail to co-workers before they ask for assistance.
The characteristics of a proactive posture are not facilely offended at something that does not fit, responsible for his own actions and celebrate before acting. Proactive people are actors of change and opt not to be victims, to be reactive, or to inculpate others, fixate on the things they cannot change and do not worry about things they cannot change, do not incriminate circumstances or environmental conditions that if anyone is not in accordance with his wishes and being able to take the right decision, even in a very arduous situation.
For the example of peoples who are successful Entrepreneur Tan Sri Mokhzani Mahathir, Net worth US $ 1.2 Billion (2014). He is very proactive in oil and gas business. There are positive features and many features that help entrepreneurs build their careers. One of the qualities that should be possessed by an individual entrepreneur is curiosity. Curiosity is one of the defense mechanisms of human life. From this sense of man has the tendency to identify previously unknown things this man showed a proactive. Figure entrepreneurs who demonstrate curiosity is very deep. Tan Sri Mokhzani Mahathir, 52-year-old Malaysian, was appointed to the Board of Sapura Kencana Petroleum on 9th December 2011 as Executive Director and Vice Chairman.
3.0 BIOGRAPHY
COMPANY’S NAME : SELERAKU TRADING SDN BHD
3.1 Biography
Seleraku Trading Sdn Bhd. business started from 2008 by the late Mohd Farid at 2009. From the beginning of the business and his idea to create Oblong from 2008. They used the ingredient to produce the product to send at the hotel in Langkawi because the late Mohd Farid had many contact people at the hotel in Langkawi so that most of their product was supplied to the hotel in Langkawi . When they produce the latest of Oblong product then they supply to the hotel prior than another place. Their market starts from small-scale because with the capacity of old place can't produce many products it because they use the manual because they don't have any machine to produce the product. They lived in Kepala Batas, Alor Setar and they start the business from build the small building beside their house only with use the manual system to make Oblong, the meat slice that supplies to a hotel. After that, when they were expanding their business, the late Mohd Farid died. So they move to Hosba in 2010. The late Mohd Farid started to make the with meat by small scale and then when becoming bigger they produce the product. From his father do the cow slaughter until now, then the now latest product was the last product of Oblong. So they move to Hosba and renovate the building by following the available aspect for food production. They move to Hosba at 2010 then they have the new product of Oblong like Obolat, Kebab, Satay and supply to the hotel and be continue until now. When the late Mohd Farid died, Mrs. Zunita takes over his place. So they expand the business by themselves at Hosba.
2.2 NETWORKED
Networked is one of the traits that should be on every entrepreneur to make any business run smoothly and be successful in expanding the product produced. If the entrepreneur has a good network to users from outside or even inside, it will be easier for entrepreneurs to gain an edge on the business opportunities and solve problems on their business. A good networked relationship will allows them to get the support and cooperation of the network circle. Thus, every entrepreneur needs to build networking skills, as it will be the catalyst to achieving their goals and business objectives. Entrepreneur network is divided into several types, namely personal networks, public networks and business networks.
Personal Network refers to an informal network. This type of network involving direct contact between entrepreneurs and confronted with certain parties such as parents, friends, family, former teachers or lecturers, members of social associations and youth groups. These parties are usually the first source of supply for entrepreneurs to get help at various stages of starting a business.
The public network refers to public resources that enable entrepreneurs to enhance their knowledge, as well as the intermediate information with certain parties such as magazines, newspapers, the Internet, books and TV. It also includes can be obtained through seminars, workshops and associations. Meanwhile, the business network is an association of entrepreneurs with the business outside of the organization such as customers, suppliers, banks, accountants, government, business associations, professional bodies and others.
Founder of Oblong Sempoi, the late Mohd Farid is the entrepreneur that has an extensive network . This is evident when he decided to expand his business by agent at the Langkawi which the agent will distribute these products of each hotel in Langkawi so the customer can recognize his product by eating his food. His product also did the sale at carnival MAHA. This product is also a francises which his product has high rating.
2.3 Open risk taker
Risk is defined as the probability of loss, accident, weakness and collapse while open risk taker can be referred to an individual or business who has the courage and tends to behave on a way that can potentially cause physical and financial loss to a business where also present an opportunity for a rewarding outcome. It is important for an entrepreneur to exhibit open risk taker trait since it able to advance the society and generate higher return.
Open risk taker trait is important to an entrepreneur as it can advance the society by moving forward. When the entrepreneur take an initiatives to involve in certain activities which has never carry out by other as they interpret this project is full of uncertainly or risk. There is a possibility to implement the project successfully and contribute benefit to the society.
For them who want to start a business must have a courage to face any risk. This is because, as an entrepreneur there will be fluctuations in managing the business. Therefore, they must be willing to face all obstacles and dangers, loses and competition. Entrepreneurs who take risks are individuals who dare to face failure, because they can learn through failure and make it as a lesson that can be avoided in the process of product innovation beyond.
The owner Madam Zuraini who dare to take the risk in his business. His business income was drop about 50% after GST. But he still move on and tried to control the losses. On the other hand, he tried to open the small stall to sell his product, and it was achieve. The capital of modal needed just RM500.Unfortunately,the customers who managed the stall not return the stall but they sold it . But he still further on his business until now.
2.4 OBSERVANT
As an entrepreneur must have the sharpness of perception. It allows an entrepreneur to evaluating the strategy and ideas to advice grow the business. Entrepreneur nowadays are not only have to know how to look and take a chance but need to know how to analyze, formulate and have a keen perception to make a decision and stick with every decision opinionated. As an entrepreneur must have a mindset that is very long in producing a business that can benefit them. Entrepreneur are people who always find a way out of problem they are facing and when the problem was discovered way out, they will use the best method to solve the problem as quickly as possible in order to give a good result for them.
Thus, with the sharpness of observation indirectly will be able to identify the problem to be faced and can finish with the best methods that do not affect the product. In that case, the entrepreneur must have a high sharpness of observation as keen power of observation by us to each situation will make an entrepreneur it can be improve the performance if indirect products or objects that they produce into something very interesting to the customer.
The late of Mr. Mohd Farid the owner who dare take the observation in his business. Now, his business was taken over by his wife Mrs. Zunita binti Nordin. The most recent event is followed by MAHA 2016 in Serdang, Johor Bahru. His business have many joint venture with other companies such as MARA, TEKUN and others than that. Most of the event is followed by, on the ground picked up by a particular party. If there are no obstacles ceremony they will attending that event.
2.5 Failure is option
The definition of failure is a lack of success without effort and option is what your choice for the result. Besides that, failure can be devastating, but it can also make us stronger and smarter. The path of entrepreneurship is equal parts rewarding and challenging. The obstacles and setbacks along your path to success are always opportunities for growth, change, and improvement, but let face it sometimes your spirit falters when you`re in the midst of a tough spot.
An example of founder Oblong Burger Mr.Farid,late husband of the Madam Zuraini refer to his story before 2008 he tried to created something different about burger meat but he always failed but he still keep tried and tried until 2008 he found new recipe it was Oblong Burger.Now Oblong Burger was the main income to their company products.
But after the year there are many competitors followed their concept about Oblong Burger but they can followed that their products have 90 percent meat.Then before the company under Koridor Utara produce stall to clients.The capital of stall is RM500 but clients just needed to paid RM 250.There are many stall was sold but the income was less because customer was dishonest about their business.
With Madam Zuraini attitudes that does not easily to give up,she continue to learn about the past failure and get up with many products like burger ban,Obolat,Kebab ,Sate and Meatball.From the scenario above we can said that failure is option to someone to achieve.
2.6 Team oriented
The definition of team oriented is to build a successful business is not a one-man show instead, the entrepreneur has to surround themselves with talented, like-minded people to fill in the gaps. Ideas contributed by team members can use to form best ideas by combining or modifying it.
An example company of Seleraku Trading Sdn Bhd had managed 50 staff in factory and 10 staff for job at outside the factory.And one from 50 staff from factory was from Bangladesh.He was loyal employee because started worked with company about 9 years and he did high risk job to managed meat grinding machine.He very professional about machine.
Madam Zuraini also provide the facilities to the employees such as dormitory,lunch and tea time for free because she believed that it can build team oriented with other in company.She also give to her employee bonus every month to appreciate their worked.Besides that,Madam Zuraini also used paternalistic leadership its meaning that managerial approach where employees are viewed as part of a`family` within the company because she always concern about the employee problems.
Therefore,we can decide that Madam Zuraini used team oriented to their management.
good job for your blog
ReplyDelete