Assalamualaikum and very good evening, This blog has been made for our group assignment of SADE 1013 Introduction to Entrepreneurship. Our Lecturer's name is Prof. Madya Hoe Chee Hee. Our group member consists of 5 people, Nor Farah Hanum Bt Mohd Rahim (238576), Wan Nadhirah Bt Wan Zainol (239667), Nur Fariha Atika Bt Che Ramlee (239454), Ong Ning (239515) & Shelline Khow (239674) . Proudly, all of us are from Universiti Utara Malaysia, Sintok, Kedah. Our main goals of making this blog is to expose the public or those seeking information about successful entrepreneurs. In addition, to sharing some information what we have been done by group assignment. We hope will give some benefits for people out there. Thank You!
SUCCESSFUL ENTREPRENEUR
Task 1 a)
1) NETWORKED - Jack Ma
Networked is the entrepreneurial trait that highly needed
and applied to operate the business. Networking refers to a process of developing and engaging in correlatively
beneficial informal relationships. Entrepreneurs meet regularly with one
another to discuss problems that will lead to an exchange of ideas and
experiences. In a perspective of business, networked is the result of past
relations of strategy and resources for future strategies. The relationship of
the right obligation is the result of supply which originally led to the
company networked, experience and investment.
They can use networking as a
tool for finding investors, customers, staff, suppliers and business partners
with minimal cost to their business. This
means that, apart from additional analysis on relations companies and
understand what the networked, this also involved all additional resources
through socially constructed.
Moreover,
as business networking developing more business and opportunities, a lot of
businesses now have created networking activity as part of their business
strategy. Business networking is a more cost effective method of generating new
business because it involves personal commitment. Nonetheless, associations of this type
are useful source of information about regulatory matter that impact a
business, effective methods of communication or administration and frequently
association also competitive information and share the results.
Formal networks are often an effective means of reaching out to the
public. For an example, Jack Ma.
In
1994, Ma heard about the Internet. Then in early year of 1995, with his
friend’s help, he went to United States and he got introduced to the Internet.
During his first encounter he searched the word "beer". Although he
found information related to beer from many countries, he was surprised to find none from China. Further, he tried to
search for general information about China and again he was surprised to find
none. So Jack Ma and his friend decided to create a website related to China.
Within five hours of creating the website he had received emails from some
Chinese wishing to know about him. This is when Jack Ma realized that the
Internet had something great to offer. In April 1995, Ma, his wife and a friend
collected twenty thousand dollars and started an Internet company. Their
company was dedicated to creating websites for companies. He named their
company "China Yellow Pages." Within three years, his company had
made 5 million Chinese Yuan which was equivalent to 800 thousands USD.
From
1998 to 1999, Jack Ma headed an information technology company established by
the China International Electronic Commerce Center, a department of
the Ministry of Foreign Trade and Economic Cooperation. In 1999, he
decided to quit and went back to Hangzhou with his team in order to found
Alibaba in his apartment with a group of 17 friends. He started a new round of venture
development with 500 thousands Yuan. Alibaba is a China-based business to
marketplace site which currently serves more than 79 million members from more
than 240 countries and territories.
2) Failure is an option - Walt Disney
Most entrepreneur
will face with failure before they success. People think that failure is not an
option, but they are wrong! Failure is an option because you cannot predict
what will happen in future. Failure allows you to identify what’s not working
well and finding the main course why you fail. Making sure failure is an option
in entrepreneurship is a way for you to become more successful. So, do not
despair advance, as not necessarily failed once, will fail forever. As fail make you depress and thinking there
is no success you can do, you need to always have a positive minds. Success did
not come easily without hard work and determination. You need to be more
matured and think rationally about the business.
Besides,
nothing was wasted if you learn something from the failure. Most important you
need to stay positive about yourself. The one
investment that will never let you down is an investment in yourself. Because
that is an investment no one can take away from you. Once you fail does not
mean you fail forever. Every effort that you make after a failure is the
opportunity for you to success. Giving up is not the solution for someone who
want to success.
Walt Disney is a good example of entrepreneur that has gone
through failure before he became a successful person. Walt Disney or his real
name Walter Elias Disney was an American entrepreneur, cartoonist, animator,
voice actor and film producer. He was born in Chicago, Illinois, United States
on December 5, 1910 and died in December 15, 1966. Before Walt Disney became successful there are several
difficulties he needs to overcome.
Firstly, he was fired from working with a
newspaper company named Kansas City Star Newspaper. He was told that he is lack
of imagination, not creative and did not have good idea. In 1921, he decided to
build his own animation company. Laugh-O-Gram Film is his very first animation
company. It was state in Kansas City. Unfortunately, in 1923, Laugh-O-Gram Film
was forced to shut down. The company was announced as bankrupt. This animation
company was full of debt because the distribution company in New York where he made a deal with
went out of business.
Later in
1926, Walt Disney created a cartoon character called Oswald the Lucky Rabbit,
distribute through Universal Pictures. Luckily, this brings success and the
character became a popular figures. Later on, some said that Charles Mintz had
stolen the right of Oswald while some said that Walt Disney knew that Universal
owned the Oswald character. Walt
Disney created a new cartoon character in 1927, based on a mouse that had lived
in his office in Kansas City. This
cartoon called Mickey Mouse. Later in 1933, The Three Little Pigs
was rejected by the distributors because it only has four characters. But after
up and downs incident, it became very successful.
Walt Disney road to success was full of
failure. These are example of failure faced by him. Instead of giving up, he used the failure itself as an option to get
started fresh with more improvement and became such a legend. He learnt from failure and continues to take risk. He faced criticism and
failure before his films started to success. After a few years, he built Disney Land and it became very popular and
all children dreamed to go there.
3) OUTCOME ORIENTED - Robert Kuok Hock Nien
Outcome oriented can also know as result
oriented it means that an entrepreneur who focus on the outcome and complete or
achieve the goal that has set in earlier stage.As an
entrepreneurship, the first step for you to achieve the outcome oriented is to
accept the contract from a client then work for them to achieve their desired
outcome. By James Lawley (2007), one of the distinguishing features of the
kinds of issues presented in therapy, compared to say coaching, is that the path
between current state and desired outcome is rarely a straight line.This is
because clients are likely to have multiple desires that are beneficial to them.
To fulfill the need of
customer desires, asan entrepreneurship they will put a lot effort to make sure the
product is in perfect condition and high qualities. An entrepreneurship that is
outcome oriented will always follows the strategic that has set in earlier so
that they can reduce the error; minimize the cost and maksimum the profit.
The entrepreneur who is outcome oriented is Robert Kuok.
Robert Kuok Hock Nien is a man who needs no introduction. He also has a character of outcome oriented. From being the ‘Sugar King of Malaysia’ to the ‘Sugar King of Asia’. Kuok is in the sugar business. His father arrived in Malaya from Fujian, China, at the beginning of the 20th century, and Robert was the youngest of three brothers. He was born on 6 October 1923, in Johor Bahru. The language that he speaks with his parents since he was small is Chinese Fuzhou dialect .During the World War2, Japan was attack Malaya. On that moment Kuok was proficient on his English and Japanese language.
He claims he began in
business as an office boy, and later started a business with relatives' support.
When he was graduate, he worked as a clerk in the rice-trading department of
Japanese industrial conglomerate Mitsubishi Shoji Kaisha between 1942 and 1945, in
Singapore, a conglomerate which with the help of Japanese military unit
monopolized the rice trade in Malaya during the occupation period. He was soon
promoted to head the rice-trading department. After the World War 2, he took
the skills that he learned from the Japanese back to his family's business in
Johor.
In 1948 Kuok father
has pass away. He and his two brothers and a cousin Kuok Hock Chin founded Kuok Brothers SdnBhd in 1949, it was a trading for
agricultural commodities. After Malaya gained independence Kuok continued the
relationship with Japanese. In 1959, Kuok formed Malayan Sugar Manufacturing
Co. Bhd. with two prominent Japanese partners. On the moment Kuok also brought
many influential Malay elite into his company as directors and shareholders who
include UMNO politician and Malay royalty. In 1961, he made a coup by buying
cheap sugar from India before the prices shot up. He continued to invest
heavily in sugar
refineries, controlled 80% of the Malaysian sugar market with production of
1.5 million tones, equivalent to 10% of world production, and so earned his
nickname "Sugar King of Asia".
In 1971, he built the
first Shangri-La Hotel, in Singapore. His
first foray into Hong Kong property was in 1977, when he acquired a plot of
land on the newly reclaimed Tsim Sha Tsui East waterfront, where he built the second
hotel, the Kowloon Shangri-La. In 1993, his Kerry Group
acquired a 34.9% stake in the South China
Morning Post from Murdoch's News
His companies have
investments in many countries, including Singapore, the Philippines, Thailand, Mainland
China, Indonesia, Fiji and Australia. Businesses in China include 10
bottling companies for Coca Cola,
and ownership of the Beijing World Trade
Centre.
4) OPEN CULTURE - (YBhg Tan Sri Dato’
Seri Dr. Jeffrey Cheah)
Open culture is a
concept according to which knowledge has to be spread widely and growth deeply to
the others with developing, altering or enriching already existing work on the
basic of sharing. In other word, open culture also meanings that an
entrepreneurship should able to receive and understand the different in others culture
and ready for every moment or think out of the box to make change through the creative
and innovation to make something new or different. To be an open culture entrepreneurship,
we have torealize that every event and situation is a business opportunity.
Ideas are constantly being generated about workflows and efficiency, people
skills or experience and potential new businesses. They have the ability to
look at everything around them and focus it toward their goals.The entrepreneurship
that is open culture will be more success compare to the others.
YBhg Tan Sri Dato’
Seri Dr. Jeffrey Cheahis an entrepreneurship who is open culture.
YBhg Tan Sri Dato’
Seri Dr. Jeffrey Cheah, AO is the visionary Founder and Chairman of Sunway
Group. He is an accountant by training; Tan Sri Jeffrey Cheah is a well-known
corporate figure in the regional business arena who is also passionately
involved in both governmental and non-governmental organization. He has been
conferred eight honorary Doctorates by leading universities worldwide and is among
the leading givers in the country. In recognition of his efforts, Tan Sri
Jeffrey Cheah was named one of Malaysia’s top philanthropists in Forbes Asia’s
Heroes of Philanthropy in 2009.
In 2008, he was
appointed Officer of the Order of Australia (AO) by the Prime Minister of
Australia, Kevin Rudd. The AO is one of Australia’s most prestigious and highly
respected awards conferred to a non-citizen of Australia. It is an order of
chivalry first established by Queen Elizabeth II for the purpose of according
recognition to Australians for outstanding achievement or commendable service.
The conferment was in recognition of Tan Sri Jeffrey Cheah’s meritorious
contribution to the advancement of education in Malaysia and service to
Australia-Malaysia bilateral relations.
