Entrepreneur's World

UNIVERSITI UTARA MALAYSIA

SEMESTER PERTAMA SESI 2015/2016

FIRST SEMESTER SESSION 2015/2016

SADE 1013

ASAS KEUSAHAWANAN / INTRODUCTION TO ENTREPRENEURSHIP

TUGASAN KUMPULAN

GROUP ASSIGNMENT

NAME OF LECTURER : PROFESSOR MADYA HOE CHEE HEE

GROUP : GROUP 8

DATE OF SUBMISSION : 26 NOVEMBER 2015 (THURSDAY)

NAME OF STUDENT	MATRIX NUMBER
FAWIZA IZZATI BINTI ZULIKRAM	238137
NURUL SYAFIQAH BINTI OTHMAN	238210
NUR AMIRAH FARHANAH BINTI AZHLAN	238275
NUR’AIN BINTI CHE WAHAB	238279
NURSAHIRAH AMIRAH BINTI MOHAMAD	238336
CHIN ZHAN PENG	238358

CONTENTS

1. Introduction 1

2. (Entrepreneurial traits)

a) Proactive 2-3

b) Networked 3-5

c) Open risk taker 5-7

d) Observant 7-9

e) Visionary 10

f) Team oriented 10-11

g) Outcome oriented 11-12

h) Failure is an option 12-13

i) Open culture 13-17

3. Tony Fernandez, a successful entrepreneur 18-22

4. Conclusion 23

5. Reference 24

INTRODUCTION

The definition of an entrepreneur is someone exercises initiative by organizing a venture to take benefit of an opportunity and as a decision maker, decides what and how much of a good or service will be produced. While, entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

In general, entrepreneur is a person who is organize and operate a business, always with considerable initiative, while taking on greater than normal financial risk in order to do so. While entrepreneurship is a process of creating something new and different for the purpose of creating wealth for individuals and add value to the community.

Being an entrepreneur requires much more than just big idea. A true entrepreneur is a rare breed. It’s someone who processes a unique cocktail of traits, skills and characteristics that enable them to beat the odds and go after their dreams.

Task A

a. Proactive

Definition of proactive

(Business Dictionary) Action and result oriented behavior, instead of the one that waits for things to happen and then tries to adjust (react) to them. Proactive behavior aims at identification and exploitation of opportunities and in taking preemptory action against potential problems and threats, whereas reactive behavior focuses on fighting a fire or solving a problem after it occurs.

(Oxford Dictionaries) (Of a person or action) creating or controlling a situation rather than just responding to it after it has happened: Example ‘employers must take a proactive approach to equal pay.

Tan Sri Syed Mokhtar Shah bin Syed Nor Al-Bukhary

Tan Sri Syed Mokhtar Albukhary the third of seven children in the middle class family. He was born on 1952 at Alor Star, Kedah. He just finishes his studies until form five at Saint Michael's School. He never went to university but he has a lot of knowledge and experience of entrepreneur because of the experience when his youth. After finish school, he helps his father breeding cow business but the business not last long because of disease epidemic. After that, he selling meat and do a packaging of fresh meat and selling it.

Syed Mokhtar Albukhary started a transporting business. After successfully ‎acquiring a license for four Class A lorries in 1972, Syed Mokhtar Albukhary secured a loan in the ‎amount of RM110, 000 from the Majlis Amanah Rakyat (MARA). He then established a transportation company named Syarikat Pengangkutan Sentosa and it now owns more than ‎‎40 lorries.

Because of the proactive traits that he has, his not stop a business at that stage. He identify and exploitation of opportunities. He expands his business with rice trading business. His success gets a rice trading license from Lembaga Padi Negara.

After that, the business owned by Tan Sri Syed Mokhtar continued to grow rapidly until he was awarded as one of the richest Bumiputera corporate figure in Malaysia, thus gaining recognition from Malaysian Business as the 7th richest man in Malaysia in 2005 and the 50th richest in Malaysia by Forbes in 2013. He has expanded his business empire with an interest in giant companies in Malaysia such as MMC Corporation Berhad, the Port Bernas, Gardenia, DRB-Hicom, Bank Muamalat, Pernas, Malakoff Berhad, Johor Port Berhad and more. He also established the Museum of Islamic Art, Yayasan Al-Bukhary and Al-Bukhary International University.

We can see the successful of Syed Mokhtar because of he looking forward and creat a situation to expand his business. He very ingenious enough to find opportunities to start all his business.

b. Networked

Definition of networked

(Wikipedia) Networking is a socioeconomic business activity by which groups of like-minded business people recognize, create, or act upon business opportunities.

(Investopedia) A process that fosters the exchange of information and ideas among individuals or groups that share a common interest. Networking may fall into one of two categories - social or business. In the latter category, one of the implicit objectives is to form professional relationships that may boost one's future business and employment prospects.

(Cambridge Dictionary Online) a large system consisting of many similar parts that are connected together to allow movement or communication between or along the parts, or between the parts and a control centre.

Tan Sri Dato' Loh Boon Siew

Loh Boon Siew was born in Hui, Fujian province in China. The province of Fujian is the poorest territories assume in China. Because of the poorest of family, Loh Boon Siew never had an opportunity to go to school. Since childhood, he works as collecting pig dung. Pig dung used as fuel to survive his life. According to history, Loh Boon Siew is illiterate. He even can’t write or read. When he 12 years old, his father brought him to Pulau Pinang. He worked as an apprentice car mechanic (earning three dollar monthly) upon his arrival.

At 18 years old, he purchased 11 buses using his saving. He reconditions the buses and sold them. After that, he uses the income he earned to buy another 39 buses. After war world 2 ends in 1945, he started selling bicycle and accessory of motorcycle then he expands his business by selling a used transport.

In 1958, Tan Sri Dato ' Loh Boon Siew and Mr. Soichiro Honda, the two large figures met for the first time. At that time each had their own dreams. For Tan Sri Dato’ Loh Boon Siew, his intention is to revolutionize the automotive industry in Malaysia, while for Mr. Soichiro Honda did his dream was to create an efficient motor transport to the community. Although initially it is only on offer to the public, the motorbike but after that the partnership has grown and both have realized that those dreams have been merged into one common vision, to promote a better quality of life for Malaysian through movement. In this case, we can see the networked of Loh Boon Siew with Mr. Soichiro to improve business transport for community.

The successful of Loh Boon Siew in business and corporate figures, placing him as one the richest person in Pulau Pinang. Until this day, the name of Tan Sri Loh Boon Siew is still comparable to a corporate member of another renowned even had died in 1995.Until now the legacy of Loh Boon Siew remains strong in Malaysia as long as the motorcycle brand Honda been on road.

c. Open risk taker

Definition of open risk taker

(Learner’s Dictionary) The act or fact of doing something that involves danger or risk in order to achieve a goal.

(Business dictionary) An individual or business that tends to behave in a way that can potentially cause physical harm or financial loss, but might also present an opportunity for a rewarding outcome. Most business types that thrive on innovation will encourage a risk taker mentality among management to help support the creative process in other staff members.

Tan Sri Lim Goh Tong

Businesses need someone who dares to take risks. If we dare to take risks, our business will continue to grow. The best example of an entrepreneur who dares to take risks is Tan Sri Lim Goh Tong. The best example is the opening of Genting Highlands Resort. The advent of him as a very poor result he strive harder to improve the standard of living. He successfully makes the Genting Highland Resort as entretaiment centers and world-renowned vacation. The late Tan Sri is the founder of Genting Group and honorary life President. He died as Southeast Asian’s richest person with assets worth RM 421.8 billion.

Lim Goh Tong was born on 1918 in Axian, Fujian, China. At the age of 16 years old his father died and he was forced to leave school to work to survive his family by trade vegetables. At the age of 19 years, since the situation of war in China, Lim go change the fate of all alone to Malaysia worked as carpenter. In his travel he took become serfs and mandor of a building. Short story eventually he became a large contractor and became one of the richest entreprenuers in Malaysia with Genting Highlands and notably also the cruise industry with its luxurious cruise ships such as Star Cruises and Superstar Pisces.

The idea of building a hilltop resort was first conceived when Lim Goh Tong was having a dinner in Cameron Highlands. As he was enjoying the soothing cool breeze of Cameron Highlands, an idea struck him that as the standard of living rose steadily in Malaysia, more and more people would visit mountain resorts for relaxation and recreation, but Cameron Highlands was too far away from the capital city Kuala Lumpur, therefore building a mountain resort nearer to Kuala Lumpur would have great business potential. After doing some research, Lim found Gunung (mountain in Malay) Ulu Kali at a place called Genting Sempah to be an ideal location for his plan.

Many doubt the efforts of Lim Goh Tong, who take high risk with high investment in construction of Genting Hingland. But Lim Goh Tong refused all affect the views of his plan. He never gives up and went ahead firmly with his plan. After getting approvls from the federal and state governments, Lim began the project in the face of a colossal task. Among the problems were building the access road towards the hilltop, water and electricity supplies, sewerage system and fire safety. Lim managed to build the access road towards the summit in three years when it was estimated to take fifteen years. Several sources of water in the mountain were identified; water supply was secured by building water-collection stations and water filtration plants with treated water stored in reservoirs. Electricity is supplied through a central electricity generation system with 12 big generators and many more.

As of now, Genting Highlands is one of the most successful casino resorts in the world and is one of the primary tourist attractions in Malaysia. Lim's company, Genting Group operates Genting Highlands and has diversified into many other industries such as plantations, property, paper, power generation, oil and gas exploration and cruise industries. Tan Sri Lim Goh Tong died on 23 October 2007 and was laid to rest at Gohtong Memorial Park on 29 October 2007.

d. OBSERVANT

The definition of observant is someone who is good at noticing things, or someone who follows the rules and requirements of a particular religion. A person who always spots when you get a new haircut or a new outfit is an example of someone who is observant. The feature of an entrepreneur is obtained by observant.

The example of entrepreneurs who obtained the observant is Ali Hassan Mohd Hassan. He is the founder of Al-Ikhsan. At 11 years old Ali Hassan has been involved in the business of selling ice cream made her mother. Pay determination in business with an empire called Al-Ikhsan. Foster interest in the business since childhood with strong life principles adhere to the teachings of Islam, today a total of 59 boutiques Al-Ikhsan nationwide exist and be evidence of a great business empire. Syarikat Al-Ikhsan is a company that provides international standard sports equipment the products offered are exclusive and closely linked to the world sports arena such as the Football League, the European Cup, Formula 1, the Beijing Olympics and the World Cup 2010.Kejayaan achieved by these companies start with small capital and start with humility.

At the beginning Ali Hassan Mohd Hassan only sells its products on a small scale to friends and lecturers him while he was still studying at Universiti Teknologi Malaysia (UTM), Skudai, Johor. He also works part-time as the pizza to cover the study and living expenses. Although he received a scholarship, he told all of which were given to her mother, "because we're not happy." In trying tireless in their studies and earn a living at the time, he finally managed to get UTM Diploma in Mechanical Engineering in 1993. He is an outstanding students was offered the chance to study abroad, but declined because more inclined to undertake the first business. His business started in 1993 in a narrow space in Holiday Plaza, Johor Baharu. With business capital undertaken by the sweat of his own. He began to seriously pursue this business in 1994 when it found that demand for sporting goods was interested.

He said the success of a business, there are some key elements necessary, including patience, determination, there is no sense of shame and perseveres. Even if we fail once or difficult to obtain bank loans, we have to persevere and continue to create only. Do not think of anything, try anything that positive. Do not be shy to ask customers what they are not satisfied. Let them complain to grow the business to a higher level again. He can still remember the expression customers for the items on display at the first little store and a lot of shortcomings. It does not exist does not exist. So, I tried to get the goods they want because they want to satisfy customers. Although complaining did we interpret the opinion or criticism given that as a negative. That's a sign they love us and want to see our business grow, "he said.

The recipe for success is supported in themselves, Ali Hassan actually fully anchored in faith to claim Islam. Formula Al-IKHSAN's past and present are not we leaving the five prayers, take care of our parents as soon as possible, and give regular charity, alms and help them which sadly. He gave up everything to God and trusting in the event of power to do things because God alone, the devastation is here different. From miracle will happen with the permission of Allah. We have to believe in the promise of God that those who follow His commandments, victory and success will be given in this world and hereafter. At first difficult but now all the magic it shows results. Besides firm hold on the claims of religion, Al-Ikhsan weapons are always one step ahead of its competitors is the price of products sold at very affordable sport for all levels society. Now there were more than 75 boutiques Al-Ikhsan across the country form which is a proof of his great empire. In fact, most of the products on the Al-Ikhsan not available in other stores. The choice of products is vast and sold at reasonable prices.

Model sports shoes and other equipment worn by famous international football players are also available in this store. Every item launch in Europe can be found in AL-day courtesy same. At end of 2010, Al-Ikhsan has also started planning to open a sports shop for women called Al-Ikhsan Sports Girl. According to Ali, the opening of these premises to meet the demands of women who said that the clothing and equipment of leading brands of high quality sports scarce in the local market. Obviously listening to feedback from the market, AL-IKHSAN able to survive, even thrive with successful. Now, Al-Ikhsan store chain is among the biggest names in today's young people are fond of popular branded sports products such as Nike, Adidas, Puma, Reebok, Umbro, Lotto and Diadora rates murah.Kejayaan Ali Hassan Al-Ikhsan expand the store is expected to inspire the Malay entrepreneurs often perceived stereotype of a story of failure, to strive tireless, steadfast, while learning to listen to customers' needs in building business. Ali Hassan validates the Malay saying goes, where there's a will there's a way.

e. VISIONARY

Visionary Entrepreneur is a 60-minute documentary built around a 20-minute interview of Steve Jobs that was conducted by the Silicon Valley Historical Association in 1994. It aims to draw parallels between Silicon Valley and the Renaissance period, describing in detail the printing press's effect on the world, and how that compares to the advent of the personal computer. Several experts delve deeply into a discussion of the Renaissance in order to show how Steve Jobs was our modern day Cosimo de' Medici.

During the video, Steve Jobs is able to share his advice to young entrepreneurs. He talks about risk and the willingness to fail, the role of building illegal blue boxes prior to founding Apple Computer, and how he chose to approach life.

Also included are lengthy interviews with Nolan Bushnell (the founder of Atari), who talks about Jobs’ time at Atari, and Steve Wozniak and Mike Markkula, who discuss starting Apple. The founders of Oracle, Adobe, and Sun Microsystems spend time with us as well, detailing the impact Jobs had on their lives and businesses.

Silicon Valley Historical Association president, John McLaughlin, who interviewed each participant, narrates.

f. TEAM ORIENTED

TONY FERNANDES

Team oriented is a trait that distinguish team players are the desire to achieve consensus and involve others in decision-making, communicating openly and honestly, caring about fellow team members, being accountable for problems and trying to understand other points of view. These traits sometimes are listed in merit rating systems and become criteria for recognition, promotions or remedial training.

Tony Fernandes says that, employees come first before his customers. He believes that in having a happy workforce, his staffs will look after his customers anyway. His company is said to have a culture department whose sole job is to organize parties. He has been known to search out new staff in queues. He looks for people who are driven, who have ambition and who are humble. He has hired many people at very strange places. With all great businesses, employees are the vital human resources that drive the core of daily’s revenues and profits. Being invested in his or her employees will portray a leader as caring and understanding, more like a family in a business rather than just a worker and boss relationship. As it is widely practiced in the hospitality industry, take care of your employees and they will take care of your customers.

g. OUTCOME ORIENTED

RUSSELL SIMMONS

Outcome orientation - where "what matters" is the outcome, i.e. whether you win or lose or achieve a certain target - is presumably contrasted with something like a process orientation, where the focus is on the way you play or perform.

The CEO then explained that the performance objectives and expected results are developed directly from the business plan. They're evaluated formally in quarterly operational review sessions. Managers are expected to organize their departments in the same way, assigning each team member the necessary subtasks required to achieve the overall department objectives. Even more impressive, is that everyone is assigned work that not only stretches them, but allows them to excel at something they want to do and intrinsically motivating. Furthermore, managers are expected to coach their team members to achieve their performance objectives in a constructive, not autocratic way. Doing this successfully is one of the major performance objectives for all managers. Every company wants to hire people who are results-oriented. Unfortunately, they then put a lid on the types of results-oriented people they'll hire. It would be better to define the results required first and then find people who will excel at achieving them. This is how you create a results-oriented culture. Not by wishing it, but by building it one hire at a time and holding those making the hiring decisions fully responsible for them.

h. FAILURE IS AN OPTION

It seems that failure tends to be more public than success. Or at least that’s what we perceive it to be. We fret it, we try to avoid it, and we question ourselves every time we have unconventional ideas. But the simple truth is – no great success was ever achieved without failure. It may be one epic failure. Or a series of failures – such as Edison 10,000 attempts to create a light bulb or Dyson’s 5,126 attempts to invent a bagless vacuum cleaner. But, whether we like it or not, failure is a necessary stepping stone to achieving our dreams.

Failure is not the alternative to success. It’s something to be avoided, but it’s also only a temporary setback on a bigger, more significant course. Everybody encounters failure at one point or another. What truly matters is how you react to and learn from that failure.

Colonel Sanders

Whether you like KFC or not, the story of Colonel Harland Sanders is truly amazing. This story is inspirational because it’s an example of how perseverance, dedication, and ambition along with hard work can create success; regardless of your age.

Colonel Harland Sanders has become a world-known figure by marketing his “finger lickin’ good” Kentucky Fried Chicken.

One of the most amazing aspects of his life is the fact that when he reached the age of sixty-five, after running a restaurant for several years, Harland Sanders found himself penniless. He retired and received his first social security check which was for one hundred and five dollars. And that was just the beginning of his international fame and financial success story…

Col. Sanders was a fellow who really loved to share his fried chicken recipe. He had a lot of positive influence from those who tasted the chicken. Now, the Colonel was retired and up in age and while most people believed in the sanctimony of retirement, the Colonel opted to sell the world on his cool new chicken recipe. With little in terms of means at his disposal, Colonel Sanders traveled door to door to houses and restaurants all over his local area. He wanted to partner with someone to help promote his chicken recipe. Needless to say, he was met with little enthusiasm.

He started travelling by car to different restaurants and cooked his fried chicken on the spot for restaurant owners. If the owner liked the chicken, they would enter into a handshake agreement to sell the Colonel’s chicken. Legend has it that Colonel Sanders heard 1009 “no”s before he heard his first “yes”.

He was turned down one-thousand and nine times before his chicken was accepted once!

Colonel in front of his first KFC store. The deal was that for each piece of chicken the restaurant sold, Sanders would receive a nickel. The restaurant would receive packets of Colonel’s secret herbs and spices in order to avoid them knowing the recipe. By 1964, Colonel Sanders had 600 franchises selling his trademark chicken. At this time, he sold his company for $2 million dollars but remained as a spokesperson. In 1976, the Colonel was ranked as the world’s second most recognizable celebrity.

i. OPEN CULTURE

The business wasn’t in denial, but it just seemed like the "uncrackable" problem. This time, we did it differently. Our strategy for change was to change our culture. We called this Open. It is both an expression of a culture and how we believe today’s people-based businesses should work in order to survive, evolve and thrive. It is a philosophy of collective creativity and collective responsibility. It encourages increased collaboration between departments, the agency and its clients. Any business can be Open; what follows is a brief description of how we did it, the lessons learned and the results we’re achieving.

As a team, we have a shared dissatisfaction for how most agencies choose to work. Despite selling creativity, many behave in the exact opposite way and the most conservative department is often the creative department. We believe that most "people" businesses are actually "talent" businesses and conventional pyramidal structures squash and stifle this talent. This makes them slower, less innovative and ultimately frustrating places to work. In 2009, we set about turning this pyramid upside down, re-framing the role of management as coaches and cultural guardians.

To achieve actual change rather than paper change we needed three things: vision, courage and urgency, with the greatest focus on the latter—because talking about change rather than doing it is where most programs come unstuck. We set metrics, a timeline, identified our key stakeholders (primarily in our case staff and clients) and published targets for all to see. It was scary, because metrics and transparency set targets that demonstrate success, but can also highlight failure.

Focusing on actions ahead of words and documents, we held focus groups internally, removed all offices, official processes—even sacrosanct "sign-offs"—and department boundaries, creating a place that allowed people to be the best they could be. We believed that if we did this, breaking the traditional parent/child relationship that exists in most businesses, we would achieve radical change. And we have. Over the past three years we have transformed our creative output, winning awards around the world, and doubling in size (revenue). Crucially, our staff and client satisfaction scores have also skyrocketed.

Yet the job is not complete. Open positively affects our business on a daily basis, and with the desire to change as strong as ever, continues to drive us forward.

Vincent tan

Tan Dato' Seri Vincent Tan Chee Yioun (born 1952);known simply as Vincent Tan, is a Malaysian businessman and investor. He is the chairman and chief executive of Berjaya Corporation Berhad, which is in a wide array of businesses which includes golfing, property, resorts, and gambling in a group known as the Berjaya Group.

In 2010, he entered the Forbes billionaire list with an estimated worth of US$1.3 billion (RM4.2 billion). Tan's success in the Malaysian business sector has been attributed in part to his close association with prominent Malay political figures.

A success entrepreneur story

Tan Sri Dato’ Seri Vincent Tan, started his business from humble beginnings in 1971. Through his entrepreneurial skills and leadership, and a series of acquisitions and organic growth, he transformed a steel company which he acquired a major controlling stake in 1984 into Berjaya Corporation Berhad, a diversified conglomerate in Malaysia listed on Bursa Malaysia.

Tan Sri Vincent is a pioneer in many innovative business sectors in Malaysia and has always worked towards providing new experiences to Malaysians. In the early 1980s, he brought in the McDonald’s franchise business into Malaysia. Besides businesses held through the Berjaya Corporation group of companies, Tan Sri Vincent is involved through other holdings in Internet-related businesses, water utilities, broadcasting and telecommunications.

The Berjaya Group is currently involved in diverse businesses such as consumer marketing, multi-level direct selling, hotels and resorts, recreational development, property investment and development, financial services, food and beverage, media, education, motor vehicle distribution, gaming and lottery management, and the environmental sanitary landfill business.

Among Tan Sri Vincent’s most notable accomplishments is the acquisition of Cosway Malaysia Sdn Bhd in October 1993, a very successful direct selling marketing company in Malaysia. He later introduced eCosway.com in 2001, an online business portal to tap into the international market.

In the food and beverage industry, Tan Sri Vincent is the master franchise holder for Kenny Rogers Roasters’ restaurants worldwide with over 300 restaurants. In Malaysia, he is the franchise holder for Starbucks Coffee since 1998, Wendy’s restaurants since 2007 and Krispy Kreme Doughnuts restaurants since 2008. He is also the franchise holder for Papa John’s Pizza restaurants in Malaysia since 2008 and granted the first right of refusal for the potential expansion of the business to Vietnam, Singapore, Thailand, Indonesia and The Philippines. Tan Sri Vincent is also the franchise holder for Borders Bookstore in Malaysia since 2005.

In property development and investment, the Berjaya Group entered into several joint ventures in countries like Vietnam, China, South Korea and Thailand to undertake various property related developments, infrastructure and hotel and resort projects. The Group owns and operates a chain of 18 four- and five-star hotels in cities and tropical island resorts in Malaysia and abroad, offering over 4,000 rooms.

In 2008, Berjaya University College of Hospitality, Malaysia’s first university college specializing in Hospitality, Tourism and Services education opened in Berjaya Times Square Kuala Lumpur. He also owns the SUN newspaper since 1993, the third national English daily and Malaysia’s first and only free national newspaper.

TONY FERNANDES

Dr. Anthony Francis Fernandes , also known as Tony, Ph.D., serves as the Group Chief Executive Officer of AirAsia (India) Private Limited. Dr. Fernandes has been the Group Chief Executive Officer of AirAsia Berhad since November 6, 2013. Dr. Fernandes serves as Senior Advisor of Crescent Point Group. Dr. Fernandes served as Group Chief Executive Officer of AirAsia Berhad from December 2001 to June 2012. He served as Group Chief Executive Officer of AirAsia ASEAN Inc. He joined AirAsia Berhad in 2001. He served as Financial Controller of Virgin Communications London from 1987 to 1989. He served as Senior Financial Analyst at Warner Music International London from 1989 to 1992. He served as Managing Director of Warner Music Malaysia from 1992 to 1996. He served as Regional Managing Director of Asean from 1996 to 1999 and Vice President, Asean at Warner Music South East Asia from 1999 to 2001. He co-founded TMSB and Tune Group Sdn Bhd. He has been a Non-Executive Director of Thai AirAsia Co., Ltd. since September 19, 2003. He serves as a Non-Independent Non-Executive Director of TMSB and Tune Group Sdn Bhd. He serves as a Director of AirAsia (B) Sdn Bhd. He serves as a Director of Airspace Communications Sdn. Bhd. He has been a Non-Independent & Non-Executive Director of Tune Ins Holdings Berhad since October 5, 2012. He serves as a Member of Advisory Board and Director of Crescent Point Group. He serves as a Director of AirAsia (B) Sdn Bhd. Dr. Fernandes has been a Non-Executive Director of AirAsia Berhad since June 30, 2012, AirAsia X Berhad since July 18, 2006 and Caterham Cars Group Limited since April 1, 2012. Dr. Fernandes served as an Independent Non Executive Director of Star Media Group Berhad (Star Publications Malaysia Bhd) from May 23, 2012 to November 20, 2013. He served as a Non-Independent Non-Executive Director at Malaysian Airline System Bhd from August 11, 2011 to April 30, 2012. He served as an Executive Director of AirAsia Berhad from December 2001 to June 30, 2012. He was the proud recipient of the Masterclass Global Chief Executive Officer of the Year award at the 2nd Malaysia Business Leadership Award (MBLA) 2010 ceremony for his immense contributions to the country’s economy. Dr. Fernandes graduated with a Bachelor of Science in Accounting and Finance from the London School of Economics in 1987. He was admitted as an Associate Member of the Association of Chartered Certified Accountants in 1991, and became a Fellow Member in 1996. He also received an Honorary Doctorate of Business Innovation from Universiti Teknologi Malaysia (UTM) in March 2010.

TRAITS THAT APPLIED BY TONY FERNANDES

Traits that had been shown by Tony Fernandes in his management is failure is an option.Tony Fernandes faces many of challenges before he become a successful entrepreneur. One of the major challenge that faced by Tony Fernandes is to obtain an airline licence .Unfortunately , his initial application for an airline licence was rejected by the Malaysian Government.Then he proceeded to consult the prime minister Tun.Dr.Mahathir Mohamad who advised him to buy an existing airline instead of starting from scatch. Ultimately, it came down to a decision between buying Pelangi Air or AiraAsia , and he made the better decision .After he acquiring AirAsia , AirAsia was heavily in debt and its assets only included two old aircraft .To make matters worse ,AirAsia was struggling .And on top of it , Tony Fernandes had to mortgage his home and his personal savings to acquire the company. But, all the challenges faced by Tony Fernandes did not turned his spirit.His main idea of reforming AirAsia as a short-haul low cost carrier was a major success .He had a clear mission and vision for his company with his tagline “Now everyone can fly” .Moreover , he was able to enlist some of the leading low-cost airlines experts to restructure AirAsia’s business model .

Another trait that has been shown by Tony Fernandes , the Group Chief Executive Officer of Air Asia is being visionary .Tony Francis Fernandes was known for his visionary where he bought the loss-making Air Asia and then transformed it from a small and struggling airline to become one if the fastest-growing and most successful low fare airlines in the world. Tony Fernandes had the certain intuition and judgemental powers. He can anticipate situations that may arise. He purchased Air Asia in December 2011 from its Malaysia owner DRB-Hicom for a token or RM1 and took up the airline's RM40 million debts. He set Air Asia Group's vision as "To be the largest low-cost airline in Asia and serving the 3 billion people who are currently underserved with poor connectivity and high fares." In order to achieve he vision, he introduced a low fares and non-frills airline, Air Asia to Malaysians with the tagline "Now everyone can fly", which is aimed at making flying affordable so everyone can fly. He can predict that the lowest fares of Air Asia airline will make it become a profitable airline. This proven by Air Asia repaid that debt in less than two years with the driven by Fernandes and the help of his partners. The Air Asia airline quickly reached profitability within two years because of its cheap fares and high-quality service. Air Asia now has been voted as the world’s best low-cost airline among the users. In a word, Tony Fernandes was an entrepreneur with a visionary. His vision have turned Air Asia to become the budget airline pioneer in Asia and the largest low-cost airline in the world.That is how Tony Fernandes applied visionary traits in his business.(Based on

Apart from that,Tony also applied open risk taker trait in doing his business.When it come to solve the risk,Tony came a huge step-out. When Warner merged with AOL in early 2001, prompting the usual executive reshuffle, Fernandes junked the path of taking the ordinary path, i.e. finding another job in music. Instead, some 31 years after his initial prediction, he started an airline. By chance, while flying from New York to London, he watched an in-flight interview with Stelios Haji-Ioannou, founder of the low-cost-airline easyJet. "And I thought: ‘Wow, what a concept,'" Fernandes recalls. "I went straight to Luton airport and spent all day there. It was fascinating to see how people were flying to Barcelona for eight pounds or to Paris for four pounds. I thought: I've got to take this idea to Malaysia." Conceding that same idea to be "quite crazy and a little bit naïve," the self-declared airline chief discovered he could not get a license to open a discount carrier in his home country. So he talked the then-prime minister into selling him a near-bankrupt, state-owned company with two jets and $11 million in debt. While the PM might have been convinced, most lenders and industry analysts were not. "When we started, they said it wouldn't work," Fernandes remembers. "They said we would die". Some critics told that Air Asia would not be successful but Tony proof all the critics were wrong; Air Asia succeeded. It now flies to over 20 countries, boasts a lucrative cargo service, was named the World's Best Low Cost Airline by Skytrax for 2009-2013, and has steadily posted solid profits. In its latest full-year, 2012, the carrier reported net income of 1.9 billion Malaysian ringgit ($613.10 million). Nice company, nice profits, and the legacy is even greater. Thanks to Air Asia, the countries Malaysia, Thailand, Indonesia, and Singapore now have open-skies agreements that grant access to discount carriers.

Besides, team oriented also was applied by Tony. Tony says, employees come first before his customers. He believes that in having a happy workforce, his staffs will look after his customers anyway. His company is said to have a culture department whose sole job is to organize parties. He has been known to search out new staff in queues. He looks for people who are driven, who have ambition and who are humble. He has hired many people at very strange places. With all great businesses, employees are the vital human resources that drive the core of daily’s revenues and profits. Being invested in his or her employees will portray a leader as caring and understanding, more like a family in a business rather than just a worker and boss relationship. As it is widely practiced in the hospitality industry, take care of your employees and they will take care of your customers.

Lastly , the traits that applied by Tony Fernandes is being proactive. Until today, the search for answers continue for AirAsia flight QZ8501 flying from Surabaya to Singapore which led to the loss of 162 lives. In the midst of it stands group CEO Tony Fernandes, who just yesterday sent out a letter to AirAsia customers for their support.In the letter, Fernandes stated the past few weeks have been the “most difficult weeks” of his life since starting AirAsia 13 years ago. Tony also said he wanted to reach out and thank for the warmth and support given.Since the tragic incident, Fernandes has also actively taken to his Twitter account to provide updates on the flight search plans which has led to many PR professionals lauding his commitment to being transparent to the public. In terms of AirAsia and Tony Fernandes himself, I think they have done an excellent job. Their response has been swift and comprehensive. Fernandes’ personal touch is befitting of the AirAsia brand and of his high-profile as CEO .He added both Fernandes and the AirAsia brand have used social media very effectively to communicate at every juncture and have stuck to the facts and have not been drawn into conjecture despite some of the early misreporting on the tragedy. .(Based on Scott Pettet, vice-president of APAC at LEWIS PR).While most brands and CEOs could surely pick up a tip or two from Fernandes’ savvy social media ways, Kerr was quick to add that no CEO was actually going to suddenly turn on a social channel during a crisis and suddenly be successful in communicating in the same way.Fernandes is rewriting the text book for how leaders should act during a modern-day crisis and has been a social media leader for years. Successful CEOs will be proactive in building personal credibility and strong peer relationships online – and hope they never have to manage a crisis such as this.

CONCLUSION

On the overall, the definition of the concept of entrepreneurship and perspectives are very spacious. History of the origins of the terms of entrepreneurs has itself produce many famous people. Besides, the concept of entrepreneurship theory of multiple perspectives by that provides an overview of entrepreneurship is not only to the extent but doing business activity involving the establishment of features an entrepreneurial character in addition to other processes that must be taken.

Furthermore, entrepreneurs have a special feature that other individual differentiate them. There are many different marks obtained by the entrepreneur by success. However, any person the opportunity to succeed as an entrepreneur features for entrepreneurs is not an entrepreneur is most natural born, but due to factors such initiatives have power and success high, high locus of internal control and the ability conviction self.