entrtepreneur

Task A
Open Culture
“Open Culture” is a concept knowledge that can be spread freely based on trust to the employees. The company will growth by developing, altering or enriching works base on sharing and collaboration, without being restricted by rules which connected to the legal protection of intellectual property. A leader can be open culture by having a mindset on how we did it, the lesson learned and the result we are achieving by not hesitate to share and voice out the problems and challengers that the company facing. As a team, we had shared dissatisfaction for how many agencies choose to work. We believe that most employees business are actually have talent in business and conventional pyramidal structures squash and suppress this talent.
                                                       Mark Zuckerberg
Mark Elliot Zuckerberg was born on May 14, 1984 in White Plains, New York. He is the only son of four children. Edward Zuckerberg, his father was a dentist and mother, Karen Zuckerberg became a psychiatrist. He married with Priscilla Chan on May 19, 2012. Mark Zuckerberg has a net worth US$38.6 billion in July 2015. He started an interest in computers when he was about 12, he knows how to use Atari BASIC to establish a messaging program and he named it “Zucknet”. To improve his computer skill, his parents hired a software developer, David Newman to tutor him privately once a week. David calls him “prodigy” and he told reporters that “it was hard to stay ahead”. Mark registered “TheFacebook.com” as the domain name, and now known throughout the world as Facebook.com on 4th February 2004.
Mark Zuckerberg‘s mentioned that “I think as a company, if you can get those two things right, having clear direction on what you are trying to do and bringing in great people who can execute on stuff, then you can do pretty well”. Mark allow his employees the freedom to develop their interest by taking risk and take an opportunity to share the innovative ideas. The ways Facebook held an interview process is special. They only hire employees who are suitable and right fit to the company’s culture. Once the employees was being hired, they will take part in intensive training which will been taught “hacker way” of fast and creative. Facebook also allowed to work on the projects that they are most interested and creative to be a part of the team by sharing the information and ideas on those that are allocate to them.
Outcome Oriented
Outcome oriented can be define as the final result of a business after being through the strategic process and activity in the organization. An outcome oriented will be valid and successful while the company have a cooperate team, good management and have a great communication skill with others company. This is the key of successful with controlling internal and external organization to earn or gain better outcome. Outcome orientation based on results “win or lose” to achieve the target. If someone who really want to win, he or she will put a lot of effort, focus and think more about the details to make sure the final results.
                                                 Warren Buffett
Warren Edward Buffett was born on August 30, 1930 in Omaha, Nevraska. He was the only son of three children. Howard Buffett, Buffett’s father was a stockbroker and later became a U.S. Congressman and his mother, Leila Stahl Buffett was a homemaker. Buffett married on 1952 with Susan Buffett and had three children. Buffett net worth US$72.2 billion, awards the richest person in every state in 2015. Warren very interested in business and investing when he was young. At 11 years old, Buffett made his first investment by buying three shares of Cities Service Preffered for himself and another three for his sister Doris. He sold his share when it reached $40 and earned a small profit. Since Buffett was interested in business and investment, he apply to Harvard Business School but he is too young. Then he applied to Columbia where the popular investors Ben Graham and David Dodd taught. This experience change his life forever.
Buffett had been an investment salesman and later starts a partnership with his close friends and family. The partnership had a special law which is Warren himself would invest only $100, if needed the re-invested management fees, this would grow his stake of partnership, the money only can be added or withdrawn on 31st of December and partners would not have input about the investment that they made. He mentioned that “I would take half of the partnerships gains over 4% and would repay the partnership a quarter of any loss incurred”. On 1959, Warren opened partnerships with total seven partners and had 9.5% stake in more than a million dollars partnership assets. In 1962, Warren saw an opportunity in Berkshire Hathaway in New England textile company and began to buy stock aggressively.
Team Oriented
Team oriented can be describe as a team is a group of people who working together to share the same goal and together to achieve these objectives. As a team, everyone also is a factor of business’s operation and decision-making. Everyone have an equal voice to speak out. Therefore team orientated can be also describe as open communication and collaborates with others. Business emphasizes the spirit of teamwork and cooperation. The success rate of a product that produces from an effective team will be greater than the sum of individual efforts.
                                                   Larry Page
Larry (Lawrence) Page is an American computer scientist and internet entrepreneur. He was born on the 26th March 1973 in Michigan. Larry founded Google with Sergey Brin and he is the current CEO of Google’s parent company, Alphabet Inc. He received Bachelor of Science in Computer Engineering from Michigan University and Master of Science in Computer Science from Stanford University. As of November 2014, Google has almost 55,600 employees and operates in more than 40 countries in the world.
Larry Page believes if employees feeling happy and the company are like family will get better productivity. He always leads, guides, communicates and motivates his employees. Larry builds stronger relationships with his employees. He doesn’t just act as a leader, he also like a friend and family to the employees. As a team, Larry always sharing or exchange opinion and creativity with his employees. Employees at Google are equal and can show out their creativity. Larry gives his employees 20% of free time to stimulate creativity and innovation. Almost half of Google’s innovations are accountable from this 20% of free time. In company, top executives have to meeting once per week to collaborate and make quick choices. Their communication and cooperation produce a good efficiency. Nowadays, Google is still most productive than other big companies.




Proactive
By definition, proactive mean that control or create a situation by causing things to happen instead of waiting to respond after things happened. People who are proactive will not wait for the answers to appear, they will initiative to find the answers. Proactive also mean that ability to spot opportunities. Being proactive brings a lot of advantages to a business. A proactive company recognizes after that plan and invests in new opportunities. Being proactive is a kind of thinking and action.

                                                          Li Ka Shing
Mr. Li Ka Shing is a Hong Kong business magnate, investor, and philanthropist. He was born on 30 January 1928 in Chao Zhou, China. As of 16 April 2014, he is the richest person of East Asian with a net worth of $31.9 billion. In 1940, Li’s family fled to Hong Kong to escape Japanese invaders. After his father died, he had to work when he was 14 years old. He built a factory, Cheung Kong Industries in 1950 and then started investing in real estate. Now, he is the current Chairman of Cheung Kong (Holdings) Limited and Hutchison Whampoa Limited.
Mr. Li Ka Shing has always been proactive in his company. He research and analysis environmental after that prepare to make a decision according to his findings and analysis. Mr. Li are always has the confidence to spot opportunities. He finds the opportunities that overlooked by other investors around the globe. He move in the existing markets that have untapped potential. Li Ka Shing always expands his corporate efforts in a new direction, example outside of Asia. He proactive does shape the environment by introducing new products, services, technologies or business models. Mr. Li acts as a leader rather than a follower because he proactive and has the volition to seize new opportunities.
Networked
Network from the business perspective refers to how an entrepreneur establishes contacts and sales opportunities through referrals and introduction. For example, these methods could include, but not necessary either through face-to-face contact, email, social as well as business networking websites or gatherings (Alan Chapman, n.d.). Also Oxford Dictionary suggests that the word ‘network’ means “a group or system of interconnected people or things” or “a group of people who exchange information and contacts for professional or social purposes” (Oxford Dictionary, 2015).
Therefore, this entrepreneur trait could clearly be seen in our very own ‘King of Sugar’, Robert Kuok Hock Nien. It all started with his father, Kuok Keng Kang and his brothers’ (Robert’s uncles) that established a grocery shop, Tong Seng & Co., that trades a variety of provisions such as rice, sugar, soy beans, flour and etc (Yen Ching-Hwang, pg 13, 2006). As Chinese immigrants, education to his parents was of utmost importance and priority, therefore; his three sons Robert, Philip and William was sent overseas to provide them with the opportunity to learn and study further and more extensively. Robert was studying in Raffles Singapore and from where he became friends with Tun Abdul Razak and Tun Hussein Onn as well as Lew Kuan Yew whom the two turned out to be our very own Malaysian prime ministers and the other turned out to become Singapore’s first prime minister after its independence (referenceforbusiness.com, 2015). Due the Japanese Occupation that occurred around the 1940s’, Robert’s education at Raffles ended unexpectedly which resulted with him having to return and later work with his father in the grocery shop along with his brother, Philip.
Despite their misfortune, they have had the opportunity to learn and grow with a strong foundation in English Education and thus enabled them to socialize among the elite members of the society of Johor as well as the crème de la crème of the Malay, Chinese, Indian and also the Eurasian English-educated families whom, which after the declaration of Independence Day of Malaysia and also the implementation of a new economic policies from the Malaysian Government then has given Robert Kuok the means to expand his business (Leo Suryadinata,2012).
During the war, he was working in Mitsubishi’s Shoji Kaisha, a Japanese company which at that time was the sole distributer of essential foods such as sugar, wheat and rice. Throughout the years of hardship, he has accumulated the skills and contacts to organise the family business into a more professional line, thereby granting him the opportunity to utilise the knowledge he acquired in attempt to connect with some of his former business associates from Japan as well as those of the Agency Houses immediately after the war which he then further extended his association with two outstanding Japanese companies after setting up the Malayan Sugar Manufacturing in 1959. (Irene Sia, 1995, pg.4).
Later in the 1960s’ his ability to fend off the mainland Chinese authorities from cornering the sugar market in Malaya has eventually led him to be selected as a part of the 150-members of the Preparatory Committee(1996)  to make sure the return of Hong Kong to China a success since he has indirectly been investing in China through his Shangri-La hotel chain including the joint – ventures between him and the Chinese central government through his firm, Kerry Trading based in Hong Kong (Terence Gomez, 2012).
The connections made which eventually became his network has led Robert to diversify his business and move into assorted commodities such as palm oil, shipping and logistics, property and also one of the most influential English-language newspaper in the East Asia base in Hong Kong (Bloomberg Business, 2013)
From his actions, we could clearly see that Robert Kuok is by far, one of the many entrepreneurs out there that clearly encompasses as well as portrays the network trait in the field entrepreneurship.
Open Risk Taker
An individual that tends to behave in a way that can potentially cause physical harm or loss, but might also present an opportunity for a rewarding outcome. This traits is an important part of starting up any business.  Most business types that thrive on innovation will encourage a risk taker or an entrepreneur mentality among management to help support the creative process in other staff members.
                                                                                 Bill Gates
William Henry “Bill Gates” is an American business magnate, philanthropist, investor, computer programmer, and inventor. He was born on 28 Oktober 1955. In 1975, Gates co-founded Microsoft, that became the world’s largest PC software company, with Paul Allen. During his career in Microsoft, Gates held the positions of chairman, CEO and the chief software architect, and was the largest individual shareholder until May 2014. Gates has authored and co-authored several books. His wealth was more than $82 billion. Gates is currently the richest man in the world.
While founding Microsoft, the billionaire Bill Gates took a great amount of risks. He had to drop out of Harvard University in order to help create Microsoft. He could have stayed in college to learn more but instead he took the risk to drop out from his college and objectify his dream of creating Microsoft. He took a huge risk by starting his business based on his insight that the personal computer would be a useful tool on every office desk and in every home. When Gates was asked about these risks he feels that he did not take a risk but instead he had a plan. If his business failed, it would not hurt him as he still have enough money for his backup plan. As for dropping out of Harvard, he did not drop out, he just took a formal leave of absence that left him tied to Harvard if things did not work out.
Bill Gates would do anything to win and was prepared to travel in the wilderness of the unknown future.  He even went up against Steve Jobs and was not threatened to copy or borrow ideas from other great innovators and technology companies.
In the end, everything paid off when his company became a tech giant worth billions of dollars.
Observant
Observant is someone who is excel in noticing things, or someone who follows the rules and requirements of a particular religion. An entrepreneur is observant. This mean that an he will observe the community or which place he start a business, he is observing how the way the people are living, what are the things he can offer, maybe products or services in order for people to improve their lives in that community. They will definitely fully watch the world around them including products, process, services, customers and users, technologies and companies. Their observations help them gain insight into an ideas for new way of doing things.
                                                                               Mike Lazard’s
Mike Lazard’s was born in Istanbul, Turkey on March 14, 1961. He is a Greek-Canadian businessman, investor in quantum computing technologies, and founder of BlackBerry, which created and manufactures the BlackBerry wireless handheld device. With an estimated net worth of $US 800 million (as June 2011), Lazard’s was ranked by Forbes as the 17th wealthiest Canadian and 651st in the world.
Mike Lazard’s visualized a successful opportunity that would change the technology industry. Throughout the years, Mike Lazard’s has projected many important skills in his career. Mike is an example of a successful entrepreneur because he envisioned a dream of wireless communication and made it come to life by researching, planning and seeking opportunities that will enable him to launch a business venture.
As Mike observing that RIM (BlackBerry, formerly Research In Motion) has grown quickly, Mike going forward and continue to focus both on short-term and long-term growth, strategic planning from every crucial aspects, a customer and market-based product approach, and flawless execution. In order to work closely with the product and sales teams to deliver the most competing products and services, he is involved in the process of recruiting a new Chief Marketing Officer.



Visionary
Visionary Entrepreneur are known popular because of their own strategic abilities and they have their own ability to view things with the long-term perspective. Based on Cambridge Business English Dictionary, visionary means by a person who has the ability to imagine how something will develop in the future. However, vision can also turn into reality by creating a specific strategic planning.
                                                                                 Jorge Lemann
Jorge Paulo Lemann is an example of entrepreneur that have visionary. Jorge Paulo Lemann was ranked as the 26th rich person in the world by Bloomberg Billionare Index, the net worth that he own was US$ 25.6 billion. He born on August 26, 1939 in Rio de Janeiro, Brazil. In 1961, he has received his Bachelor of Arts degree in economics from Harvard University. In his youth time, he has won 5 times in the Brazilian national tennis championship. He is twice married and has five children. His first wife was Maria, a psychoanalyst who died in April 2005. After his first wife died, he married again with his  second wife, which is Susanna Lemann, who gave birth to three children.
He worked as a trainee at Credit Suisse in Geneva from 1961 to 1962. [1] In 1966, The first company that Jorge Paulo Lemann had equity interest, a lending company called Invesco, went bankrupt in 1966. Jorge Paulo Lemann and his partners, Carlos Alberto Sicupira and Marcel Herrmann Telles has founded the Banco Garantia, an investment banking firm in 1971, but Jorge Paulo Lemann sold out Banco Garantia to Credit Suisse Boston for $675 million in 1998. He and his partners saw a potential in the liquor industry. As a result, they had bought out two of Brazilian breweries that is Brahma beer and Companhia Antarctica Paulista, now is a part of InBev and controlled a majority share of this extremely profitable Brazilian beer production. He is now the third richest person in Brazil.
Failure Is An Option
Based on Cambridge Business English Dictionary, failure means by a situation in which a company has been unsuccessful and has to stop operating. While by getting failure, we can learn many things and knowledge, we also will get experience from that failure to make sure the wrongs. We learn knowledge and experience from the plan of failure, and try to avoid damage and do our best to recover gracefully. Each failure will teach us something, so don’t just fail and get nothing out of it. Learn something from each failure that makes you be better and better over time.
                                                                              Milton Hershey
The example of entrepreneur that looks failure is an option is Milton Snavely Hershey, other names for him is “The Chocolate King”. Milton Snavely Hershey born on September 13, 1857 in Derry Township, Pennsylvania, United States. He died when he 88 years old, on October 13, 1945 in Hershey, Pennsylvania, United States, because Pneumonia. Milton Snavely Hershey had help out on the family farm when he was young, and he had learned on of the value of hard work and perseverance on early time. Because of this, Milton Snavely Hershey had a very limited education, that is finish schooling after 4th grade.
After Milton Snavely Hershey left school, he found a good local printer who published a German-English newspaper, and he become their apprenticed in 1871. The work ended quickly because he doesn’t like that kind of work. When he was 14 years old, his mother arranged he to be a apprenticed in the Lancaster County confectioner named Joseph Royer. Milton Snavely Hershey had learned the craft of creating confections after the next 4 years. He moved to Philadelphia to start his first confectionery business in 1876, but the business only survived for six years, then going to bankrupt in 1882. After that, he traveled to Denver. He finding work at a local confectioners, and learned how to make caramels using fresh milk. He then went to New Orleans and Chicago looking for opportunities. In 1883, before he settling in New York City, he doing training at Huyler's. He started his second business , but it only trade for 3 years and closed in 1886.
In 1886, he returning to Lancaster, he established the Lancaster Caramel Company, and it company quickly became an outstanding success. By using utilizing a caramel recipe and everything, every experiment that he had obtained during his previous travels, he successful make his company prospered. It was this business that established him as a candy maker, and set the stage for future accomplishments. In 1898, the forty years old Milton Snavely Hershey had married with Catherine Kitty Sweeney, an Irish-American Catholic girl came from Jamestown, New York. This show Milton Snavely Hershey looks failure is an option, doesn’t matter how many times he has failed, but he still fight for it, he success make his company become the world’s largest chocolate manufacturing company.




Task B

A successful entrepreneur that we choose in this coursework is Tan Sri Tony Fernandes. He is a Malaysian entrepreneur who established Tune Air Sdn. Bhd. and introduced the first budget no-frills airline, Air Asia. He has the largest holding in Air Asia which suffered a crash in 28 December 2014 when an Air Asia Indonesia plane carrying 162 people went into the Java Sea after trying to avoid a storm. However, he won high marks for his handling of the disaster, responding quickly and keeping the public with his one million Twitter followers well informed. He and Kamarudin Meranun built Air Asia and started the Tune Group. Fernandes began operations in India last year with Air Asia India. Besides that, Forbes Asia valued Fernandes' net worth at $530 million, ranking him at number 33 on the Forbes list of Malaysia's Richest in 2015.
Entrepreneurial Traits
Open Risk Taker
One of the characteristics of entrepreneur is willing to take risks. An open risk taker is an individual who take an action that have the potential to cause physical harm or financial loss but it also can bring benefits to the person. (Business Dictionary, 2015) Tony Fernandes is one of the examples.
Tan Sri Anthony Francis Fernandes or Tony Fernandes as the founder of Tune Air Sdn. Bhd has taken a big risk to buy AirAsia. In 2001, Tony Fernandes come out with an idea of developing Low Cost Carrier at that time. Low Cost Carrier (LCC) can also be known as no frills, no discount or budget carrier. Fernandes thought that Low Cost Carrier could work in Southeast Asia and he wanted to make all the Malaysian can afford to pay for flight. He had a meeting with the Prime Minister, Tun Dr. Mahathir Mohamad to talk about Low Cost Carrier and to persuade Mahathir to give him official endorsement to be a new operator in the Malaysian aviation industries. Mahathir suggest him to buy AirAsia instead of getting a new airline license.
AirAsia is originally the sister airlines of Malaysia Airlines. It is the subsidiary of Malaysian government-owned conglomerate, DRB-HICOM (merger between Diversified Resources Berhad and Heavy Industries Corporation of Malaysia Berhad) that founded in 1993 and operated in 1996. Fernandes bought the airline with one ringgit (USD$ 0.26 at that time) which comprised two ageing Boeing 737-300 jet aircraft but AirAsia had debts worth RM40 million (USD11 million). To support and grow AirAsia, he mortgaged his house and used his personal saving. In December 2001, Tune Air got 99.25% equity of RM 51.68million shares from DRB-HICOM.
With debts of RM40 million, no one wanted to take the risk to buy AirAsia because they thought it will not survive. While as a Low Cost Carrier, everyone also thought it could not work in Malaysia and Fernandes would not clear the debts with this no frills carrier. Tony Fernandes proved everyone wrong. One year after takeover AirAsia, he managed to clear all the debts and turned Air Asia from a failing government linked airline to a successful budget airline. He cut the cost that included use the single type of aircraft, eliminate the travel agents commission by online ticketing, charged for the meal in flight, reduced turnaround time on the ground and ensured frequent flights. The ticket price set for USD $0.99 only which it attracted the customers who could afford it.
In earlier of 2002, AirAsia took its first flight as Low Cost Carrier and it served for six destinations only. After June 2004, it managed to serve 26 destinations and had carried 2.8 million passengers. (AirAsia Websites, 2006) From these stats, we can know that Tony Fernandes’s idea worked in Malaysia. Although he took some big risk for buying AirAsia that have RM 40 million of debts and developed the Low Cost Carrier in Malaysia and even mortgaged his house, he proved that he can do it. He thought about the risk he will take and minimized it. He turned AirAsia into a profitable airline and one of the largest low budget airline in the world.

Networked
Networked is an entrepreneurial traits that give the meaning of an interconnected system of people or things. Networked business is a socioeconomic business that carried out by entrepreneur and allow entrepreneur to build new business relationship as well as generate business opportunities. There are several types of networked such as personal network, public network and business network.
Personal Network
Tony Fernandes has parent as his personal network. His father was a doctor and his mother was a Malaysian citizen women entrepreneur from Malacca. Tony Fernandes was much influenced by his mother, who was active in selling Tupperware to faraway places. For Tony Fernandes, his mother was a wonderful woman because her remarkable ability to sell things to anyone. As such, he personally learned a lot from his mother who turned out to be so important in facing the business nature. While Tony Fernandes had his early education at Epsom College, United Kingdom, he received the news of the family in Malaysia that his mother passed away, but his could not go home because his faces financial problems. The expensive airline tickets a hindrance to his to return home. Because of it, he complained, "How wonderful if there are companies airlines offering cheaper fares." This is one of the factors that led him to have his own airline company which can be enjoyed by all, especially the lower class.
Public Network
Tony Fernandes also said the idea to set up the airline came spontaneously while he was watching television in London. "I'm interested to see ads a low-cost airline, Easyjet. Then I rushed to Luton Airport in London and spent two days there. I'm interested in the business concept and plan to introduce it in Malaysia and keep the dream to develop the concept in the Asian region." Tony Fernandes has managed to make use internet and social networks such as Facebook and Twitter. The perfect marketing plan through internet also expand AirAsia because according research about 70% up to 80% of purchases in the internet for the Malaysia market was the purchase of a plane ticket AirAsia. Turns out that his very innovative in ensuring the AirAsia brand remains fresh, relevant, competitive and closer to the soul of the Malaysian. By simply using Facebook, AirAsia can display any promotion was conducted.
Business Network
Tony Fernandes believes that every employee is an asset of the company. No matter where they are placed and what they do, each of them is the driving force of the company. AirAsia called its employees as ‘All Stars’ it is because the main factors that contributed to success is the role played by its employees.
AirAsia X also announced that Sir Richard Branson of Virgin Group will take a share of 20% in AirAsia X to help fund the initial operations such as the purchase of planes. Branson also predicted the possibility of establishing a close relationship between Virgin Blue and AirAsia X, such as code-sharing and frequent flyer program in the future.
Tony Fernandes also collaborates with its competitors who are able to challenge the status of AirAsia offers a low cost flight. Latest AirAsia is trying to discuss potential areas of collaboration with stakeholders Malindo Airways recently established.
Visionary
Tan Sri Anthony Francis or Tony Fernandes is a Malaysian Indian Entrepreneur. One of the characteristics of Tony Fernandes is visionary. A visionary leader is a leader who having or showing a powerful imagination and clear ideas about what should be happen or done in the future.
Tony Fernandes also can be known as a visionary leader and he also achieves a award like “ Visionary and Leadership Series ” award for his outstanding work in Air Asia. He also make a statement regarding his visionary, that is “ Dream the impossible, believe the unbelievable, and never say no for any answer ”.
When Tony Fernandes still is a child, he had some big dreams like running an airline, owning an English football club, and owning a Formula One racing team. He also willing to take the high risks and optimistic in achieving his dreams.
As a CEO of Air Asia, Tony Fernandes introduce the “ Low Cost Airline ”. He also perdition Dr. Mahathir to raise the idea with the leaders of neighboring Thailand, Indonesia, and Singapore and eventually successful to get the landing rights to Air Asia and other discount carriers.
Therefore, visionary lets Tony Fernandes become sensitive towards what will happen in the business environment, so it makes Tony and his working partners will take the actions rapidly to prevent its happen and become more serious. As conclusion, visionary is a characteristics to enable him to become a young and successful entrepreneur.