1.0 INTRODUCTION
Entrepreneurship is one of the fields of work that has many benefits to individuals, communities, and countries. According to Rosli Mahmood (2010) say that the word of entrepreneur came from the French word which is entreprendre that means assuming or trying.
In Malaysia, an entrepreneur was popular among the public only in the mid-1970. After 1969, these entrepreneurs have arisen in the context of the drafting and implementation of the New Economic Policy (NEP).
There are no specific terms of the meaning of entrepreneurship because too much different perspective that expressed by the leaders of world business. Entrepreneurship also defined as a creation of value through the ability to identify business opportunities, risk management, and soft skills to mobilize human resources, finances, and materials to enable a project to work functionally.
Next, the entrepreneur can be defined as someone who runs a business that success with a profit motive and practice of strategic planning to succeed. Entrepreneurs also should have a good characteristic such as innovation to create something new.
Successful entrepreneurs absolutely have experienced failure during wants to develop their business. A good entrepreneur takes this failure as their own motivation to achieve real success in their future. Entrepreneurs not only focused on dealers but across every human being.
For this task, researchers should identify nine characteristics of entrepreneurs and its examples of entrepreneurs who have such characteristics.
Through this assignment, we can gain new knowledge related to entrepreneurs in Malaysia and abroad. In fact, this assignment also exposes students to study and apply for the future.
2.0 ENTREPRENEUR SKILLS AND PERSONAL QUALITIES
2.1 NETWORKED
A network is a very important element that an entrepreneur should have. By possessing excellent networked, it contributes to the success of entrepreneurs. One of the goals of an entrepreneurial network is to bring together a broad selection of professionals and resources that complement each other's effort.
One of an entrepreneur that displayed such trait is Dato Siti Nurhaliza aged 37-year-old. She was born 11 January 1979 in Kampung Awah, Temerloh Pahang. Dato Siti Nurhaliza is a Malaysian singer, songwriter, producer, presenter and also a businesswoman which is the founder of SimplySiti. Until now, she has won more than 200 local awards. She rose to fame as a platinum artist since her winning of in reality show, "Bintang HMI 1995" since she was only 16 years old and she was got offers in the form of singing contracts from four different international recording companies.
Her first attempt to participate in a business industry after her first trial with her CTea products but it came to a dead end and the production of her branded tea was stopped in March. Then, she focused more on her new business named SimplySiti. Her husband, Datuk Seri Khalid Mohd Jiwa and two other business partners always giving support and helping her before she ventured into the cosmetic industry after 2 years of research with AC Nielsen to study marketing and targeting customers.
SimplySiti cosmetics are made in a corporation located in Korea with the new nanotechnology. Before being released into the market, Dato Siti Nurhaliza brings her new brand to Jabatan Kemajuan Islam Malaysia (JAKIM) to get Halal certification. Besides, JAKIM also visits the factory in Korea to check out every single aspect of the production with strict regulations to ensure the products are safe, customer-friendly and absolutely halal.
Several SimplySiti products such as powder and especially her lipstick released bear the names from her popular singles' and albums' title. Consumers also can get all of the product from over 200 Watsons, Guardian and Jusco outlets throughout Malaysia, with the first kiosk at JB Central in Johor Baharu. They also are planning to widen and promote the products to Brunei, Indonesia, Singapore and Middle East countries.
Dato Siti also has signed a contract with a British toiletries company like Standard Soap for producing new products such as shampoo, antiperspirant, and much more toiletries. In February 2011, SimplySiti toiletries could get a profit up to £5 million.
Dato Siti was personally involved in the products promotion including starring in the product's television commercials advertisement and touring biggest malls around Malaysia and at the same time, she also released a theme song for the SimplySiti products titled "It Used to Be My Secret, Now It's Yours".
2.2 OPEN RISK TAKER
The open risk taker is someone who dares to take a big risk in entrepreneur worlds. This challenges will be in serious condition when the entrepreneur was new in business and they have to learn from bottom to be a successful entrepreneur. To be a successful entrepreneur in this world, a person must have full confident to face the risk that they will face today and also in the future. The risk taker is meant we are willing in doing something even though we know we might lose be lost everything we have or facing another high risk.
To start a business, we need a lot of funding. This means that we need to find many ways to get money such as make bank loans, use personal savings, and ask family, nephew and others as capital to start the business. In economic terms, we call it as margin cost which means we need to sacrifice an amount to get the new amount. Furthermore, the entrepreneur willing to do everything even they know it is a big risk and can be one of the disadvantages and passive income for their business. An entrepreneur also has to operate effectively in an environment that filled with a various type of risk. The entrepreneur needs to be brave and take a big risk through the business in their own world.
Normally, an entrepreneur will have the willingness to take any risk in their business in order to succeed in their business. The entrepreneur has to possess the courage to take the risks and also need to be balanced with the knowledge and understanding of how to access, control and manage the risks involved so as they are not creating some new threats and new problems to their business on their future. So, a good entrepreneur must always remember their mission, goals, and objective.
One of the examples of a successful entrepreneur that brave to take any risk is Dato Seri Dr. Hasmiza Othman well known as Dato Seri Vida. She is 43 years old and a Chief Executive Officer and a founder of Vida Cosmetic or Vida Beauty Sdn Bhd. She is a holder of a Bachelor of Education of Malay Literature and History. She was born in Kelantan.
This is few words about the founder of this product "Qu Puteh". She had lost her children in a fire that hit her house. Dato Seri Vida also been a single mother for many years and taking care of her child alone before remarried. Dato Seri Vida admits that she was born in a poor family before becoming an orphan at the age of 9 years old since her father died. Her mother also totally lost money sources when the unexpected tragedy suddenly happened. So, from there, she knows what is business when she was selling nasi lemak every morning and got profit 30 cents per selling. Besides, the most distressing when her mother did not have any choices rather than sold a piece of land to support her cost of her expenditure in Universiti Sains Malaysia as she is the only children in her family who are able to continue a study on the tertiary level.
After graduate, for the first time Dato Seri Vida chooses salon business as her career. From there, she began to make various beauty products to fulfill customers' needs in her salon. What's more, when it was about 15 years of her career, a scale of beauty products from domestic demand boosted up and this forced her to have own beauty products on a smaller scale. After getting outstanding sales amount of RM 500 000, she dared to take a high risk to buy some ads to promote her products through online marketing. As a result, she suffered heavy losses when her product had no response from any customer. But, it is not a reason for her to give up. She tried again and again until she achieved her target.
One of the examples that she dared to take is she has sponsored about RM 3 million in “Anugerah Juara Lagu 29” and “Gegar Vaganza”. The impact of her products, "Qu Puteh" is a remarkable and trending phenomenon among Malaysians.
However, Dato Seri Vida almost labelled as glamor-seeker when she advertised herself and her products during a live "Anugerah Juara Lagu 29" and almost along ads began. But, her product got a high rating from customers due to her sponsorship and her promoting style until she became an unusual phenomenon.
2.3 OBSERVANT
The other word for observant is sensitive with surrounding. For example, Dato Siti Nurhaliza which a superb singer and also an icon in the field of entrepreneurship.
Dato Siti Nurhaliza's effort in order to progress in the field of entrepreneurship has been recognized by Employee Young Entrepreneur Award 2005 by the School of Management (PPP), Universiti Sains Malaysia (USM) and the Academy of Management Asia. The award given is to give recognition to employees who successfully made a name entertainment at the international level.
Chairman of the Organizing Committee of the Alumni Gala Dinner PPP, Prof Madya Dr. Yuserrie Zainuddin said the establishment Siti Nurhaliza Productions (SNP), a brilliant idea manifested in the entertainment industry functions to manage an orderly and professional performance. He also believes that no exaggeration to say that Siti Nurhaliza branded itself through the distribution of products that have a major impact in ensuring a person's name is associated with a particular drink.
The failure of C-Tea product absolutely gave a small negative perception on the abilities of the top singer in the field of business. But the company remains strong until this day and still in a process of gaining momentum to a maximum career level. She introduced a range of cosmetic products cosmetics such as lipstick, foundation, eyeshadow and also facial cream Simply5 under her new brand SimplySiti.
In conclusion, Datuk Siti Nurhaliza is an entrepreneur who is kept on track with the demand changes.
2.4 VISIONARY
Visionary mean someone who had the foresight about the progress or development of future things. This feature can be seen in the figure of the late entrepreneur Tan Sri Dato' Loh Boon Siew. In about 1980, practically only 10 motorcycles are on the roads, 7 of whom are from Honda Boon Siew.
Believe or not the name of Boon Siew on a motorcycle Honda is not coming from Japanese name but it is the name of the individual responsible for bringing in Honda motorcycle involved to Malaysia, the late Tan Sri Dato 'Loh Boon Siew.
As a successful entrepreneur, Tan Sri viewed as visionist for the company for bringing Honda motorcycles to Malaysia. This can be seen from the construction of the first motorcycle factory in Malaysia Assembly Plant, which is owned by Boon Siew Boon Siew Sdn Bhd in Mak Mandin Industrial Estate, Penang which is Honda motorcycle is not installed in Japan only but it is also installed in Malaysia to save the cost of transportation from Japan to Malaysia that may affect the raising of the motorcycle price.
Then, Boon Siew Sdn Bhd has introduced several new models of Honda motorcycles began in 1971, which Honda model S90Z. On this day, there are various types of Honda motorcycle in the market such as Wave 100, Wave 125R/S/X/Ultimo and more.
With his noble attitude, Tan Sri Loh Boon Siew always plan some new marketing strategies such as launching a new model of Honda Motorcycle to success in the field of motoring. Not all entrepreneurs have the ability to look ahead like Tan Sri. A positive attitude can be classified as the main weapon to move forward in the Malaysian automotive industry.
2.5 FAILURE IS AN OPTION
Mark Zuckerberg is a successful entrepreneur in the world and his wealth is USD 41.8 billion. He is an entrepreneur who believes a failure is an option to stay at a failed stage or move to success stage. Before he became a successful entrepreneur, he also one of the failure person but he believes that there is no easy way to success in life.
His first failure encounter was in 2006, Harvard Connection Maker claimed that Zuckerberg stole their idea and Zuckerberg is required to pay their loss due to his claimed as an idea stolen.
Meanwhile, Zuckerberg insisted that his idea is based on two significantly different types of social networks, but the lawyers find records Zuckerberg and got him probably be deliberately stealing intellectual property. Zuckerberg later apologized and said he regretted them.
In addition, he created CourseMatch at Harvard University and this application is quite useful on the campus because it can help students to communicate with other friends before he created Facebook.
CourseMatch helped students to choose their classes based on the user's choice and subjects and communicate with other friends and pick the same class in order to learn together. CourseMatch also functions as users can share their time schedule and registration information with their friends.
In addition, Mark Zuckerberg also created FaceMash at Harvard University and also quite famous. FaceMash is an application which user can compare any students' images on campus and allow users to vote on which one of the most interesting image.
This application is very popular in the campus because students like to compare a picture of pretty women who are in college. Although, this application had bad feedback like there is no students' privacy and due to the University commanded, Mark Zuckerberg to close this application.
From there, FaceMash was labelled as a failure Mark Zuckerberg product because it has no chance to keep growing. Finally, as an entrepreneur who believes a failure is an option for achieving successful and now the company has quite a few applications like Facebook and other applications and games which have some contracts with Mark Zuckerberg. Until nowadays, he is always trying to improve Facebook to get more users by updating new function and interface.
2.6 OPEN CULTURE
Tan Sri Syed Mokhtar Al-Bukhary was born in 1951 in Alor Setar, Kedah. He is a businessman and richest Malay entrepreneur in Malaysia which controls the various industries in Malaysia. Tan Sri Syed Mokhtar started a business as an entrepreneur by selling meat in 1970.
In 1972, he was granted the permit for the four trucks of class A. With the financial assistance of RM110,000 from MARA, he bought another two lorries and start paddy business. Then he set up a company and apply for a license Bernas rice trade in 1975. Not only that, Tan Sri Syed Mokhtar had set up a special Foundation, namely Al-Bukhary Foundation.
The Foundation is implemented based on farming, engineering, infrastructures, and construction. Al-Bukhary Foundation was established to help the poor, promoting understanding between civilizations, and support the development of Islamic art and culture as his Corporate Social Responsibility.
Before making any important decisions in business, he also thinks twice about the public interest and public rate affordability. In addition, he also reached out to the community with a contribution to social responsibility. For example, Tan Sri Syed Mokhtar sponsoring tuition classes for selected students in English Courses as well as carry out beautification and some activities at Masjid Negara.
In addition, he also donated RM1 million to Tsunami Fund and each year he will sponsor to poor Muslims in Malaysia who are not able to perform the pilgrimage. Tan Sri Syed Mokhtar also donate millions to charity projects annually under the Al-Bukhary Foundation to support the efforts of Islamic art and culture and help people with disabilities.
He had contributed a lot of facilities in a country like a build Quran Institute, open Al-bukhary tuition to poor students around the country, build a Museum of Islamic Art and others.
Moreover, Tan Sri Syed Mokhtar also active in the global development program. His biggest programs in Indonesia is Al-bukhary Orphans Program. Besides, he contributed money and food to earthquake victims in Sichuan, China, to buy and renovate Central House and so on.
2.7 PROACTIVE
This world changes so fast so that entrepreneur could make innovation today and become obsolete tomorrow. They always study and keep learning to survive or adapt to changing of a trend.
They always read industry journals, books, magazines and survey peoples' problem also attend a seminar and update themselves with the latest industrial trend. Really humbled person and learn when availed the opportunity.
Wiseman said; “a cap that is full is useless… to succeed in business”.
Mark Zuckerberg which one of entrepreneur that proactive to build a website that can connect everyone via any browser before smartphone arrive.
2.8 TEAM ORIENTED
Almost all of the successful entrepreneur can stand alone or run their business by their own hand. They ask a team of employees or any consultant will not only focus on main competitions but also improve the efficiency of its operations and generate many innovative ideas to bring them up to management.
Steve Jobs ask for help from his friend that have ideas about programming to build and iPhone as minicomputer that function in a cell phone whereas they call smartphone nowadays.
2.9 OUTCOME ORIENTED
An entrepreneur that apply this key trait did not bother about the day-to-day problems or overwhelmed over it because they have their own vision for the company or organizations. They target to settle the future problem and not the usual problem. They like to solve and follow the trend while bringing impact and force effort and ability to achieve the vision. Steve Jobs also applied this outcome-oriented key trait which he combines the so many applications in one item. The mp3 player, the camera which back then only can record 3gp format and also can do the browsing only using the iPhone.
3.0 CONCLUSION
Overall, the conclusions drawn from this work is all good entrepreneur must have the characteristics of entrepreneurs to become guidelines for success. This is because ordinary entrepreneurs should have these characteristics to become a successful entrepreneur. Most successful entrepreneurs have encountered when the failure to achieve real success. An entrepreneur also no need for profit only but they also need to take care of the welfare society. Finally, if we want to become a successful entrepreneur we must have the characteristics of a great entrepreneur and should be applied to ourselves for our future.
REFERENCE
Academia. (2015, 21 October). Tokoh Usahawan. Retrieved from https://www.academia.edu/6652804/Tokoh_usahawan. ; translated.
BiogfrafiKu.com. (2015). Biografi Bill Gates. Retrieved from http://www.biografiku.com/2009/01/biografi-bill-gates.html. ; translated.
Usahawan.com. (2015). Rahsia Kejayaan Tan Sri Syed Mokhtar Al-Bukhary. Retrieved from http://www.usahawan.com/tokoh-perniagaan/rahsia-kejayaan-tan-sri-syed-mokhtar-al-bukhary.html ; translated.
Entrepreneurship (2015, 26 october). Entrepreneurship ft visionary Retrieved from http://sade10131.blogspot.my/2015/10/entrepreneurship-ft-visionary.html
