1.0 INTRODUCTION
Entrepreneurship
is the process of creativity and innovation to create new products and services
to meet human needs. It provides products or services required by users. In
providing products and services that are good, they will find better ways to
maximize resources and reduce waste.
With this, people will get the products (goods) and better services at lower
prices. Entrepreneurship helps improve the lives of millions of people through
new products and services introduced to the market. Entrepreneurship is an
individual who not only create wealth but also at encouraging the distribution
of wealth.
In
economics aspect, entrepreneurship focuses on aspects of gain profit and
wealth. Both of these aspects encourage a person to engage in entrepreneurial
activities. To achieve both these aspects, entrepreneurs will seek to identify
and find business opportunities that generate profits for
the organization. In addition, entrepreneurs also are part of the input
expenditure other than raw materials, land and capital. Input for an entrepreneur
is profit. The advantage is the price paid because of the risks taken by an
entrepreneur. Therefore, to become a successful entrepreneur and competitive
they need to have the characteristics of entrepreneurs such as integrity, reliability,
ethical consciousness and soon.
2.0 THE ENTREPRENEURIAL TRAITS AND
EXAMPLE OF ENTREPRENEUR
2.1.0 Integrity and Reliability
Entrepreneurs
must have a high regard for integrity and reliability between both suppliers
and other inputs. In a new venture a reputation must be established. Both of
reliability and integrity will set the business up to begin to build a loyal
following brands and a good name amongst consumers. This is important in a
supplier because without a good supplier a business cannot function well.
Faiza
Bayumi Ahmad Sayed is an entrepreneur who has the integrity and reliability
features. She is a founder of the Faiza Brand Rice under the private limited
company. She migrated to Malaysia in 1964 because followed her husband, Tuan
Haji Abu Bakar Ahmad. Migrated to Malaysia at a young age and was not fluent in
Malay is the initial challenge to start business world at Malaysia. Through
observation, she discovered that rice wholesalers mostly supplied by another
races. She start learn about many various types of rice and finally she applied
for a license to sell various types of rice and rice ponni Include, basmati rice,
fragrant rice and Siam. Because of the integrity and reliability in her
entrepreneurship, her company now been identified by her customers. Her company
provides high quality guarantee products, made one hundred percent Muslim and
halal. In conclusion, for being a successful entrepreneur, we must conduct any
business with honesty and trust to attract customer’s reliability.
2.1.1 Foresight
Foresight means the ability to
anticipate the needs, issues and development that will exist or not exist. By
having this ability, an individual can plan better business strategy for a long
time. Successful entrepreneurs need to have a forward-looking nature within
them. Entrepreneurs who have the foresight or forward-looking nature is someone
who knows how to plan, analyze, formulate and take every opportunity. The
advantage of having this feature is their ability to predict whether it can
give profitable or loss to them.
Harsukhlal
Maganlal Kamdar is entrepreneurs who have the foresight of what he did. Harsukhlal
Maganlal Kamdar is the Founder and Managing Director Kamdar.Harsukhlal
supermarkets are entrepreneurs born in Gujarat. It can be seen at who considers
himself capable of developing business in Pulau Pinang at some point. Finally
he managed to open Kamdar in Penang after facing many hurdles. After that, he
has expanded his business to Kuala Lumpur. However, four years after opening,
the store was closed and Harsukhlal then decided to go alone to Kuala Lumpur in
1977 and tried to improve the situation. In 1980, with his attitude that has
the foresight that Kamdar will succeed in Kuala Lumpur.Kamdar business
continues to grow rapidly. He continued to open retail outlets in major cities
throughout Peninsular Malaysia. Harsukhlal also intends to further expand its
business to the Sabah and Sarawak. Even though the problems of economic
recession happen in Malaysia, Kamdar remained as local supermarkets competitive.
In conclusion, as an entrepreneur, we shall have a distant view of our business
and never give up in advancing the business. This feature makes Harsukhlal
Maganlal Kamdar succeed in business and make a name Kamdar popular until now.
2.1.2 Ethical Consciousness
In
general moral principles of business ethics is the standard of conducting business
practiced by the community of dealers and obtained by people who deal with it
as a treatment Fair (fair behavior) in business operations. Ethics are the
guidelines that determine whether something was done wrong or right. Each party
has an interest in the existence of the business will be taken if a violation
happen during business time. Entrepreneurs who have ethical consciousness in
business can highlight their benefits to a competitor company. Businesses with
ethical consciousness would be easy, accompanied by various parties for dealing
with their company.
Mr.
Mydin is the owner of the company Mydin Mohamed HOLDINGS.BHD. He is looking for
opportunities to improve the profitability of the company and also conscious of
its social responsibility. The wholesale pricing are affordable for customers,
especially those with low income. In addition, MYDIN also keep its ethics in
business. This can be seen in the quality of products MYDIN sales. The
companies continue to monitor the quality of goods marketed even if it's cheap.
MYDIN MOHAMED HOLDINGS BHD companies attach great importance to labeling and Halal
status of products sold in stores MYDIN. MYDIN group also emphasizes ethical
awareness in management and involve employees in activities that could be
contributing to society.
2.1.3
Ability to Learn from Mistakes
Everyone
make a mistake. But from the mistake, people must learn from this experience to
avoid the second mistake happen again. If we make mistakes, we should admit it
and not blame others and should take it as a lesson in life. You need to be
brave and honest and say this is the mistake I did and must be held accountable
for it. A smart entrepreneur is someone who recognizes about their mistakes and
tries to fix it.
From
this point of view we can see through these figures. Leo Laporte is founder and
host of the network “Twit the Tech Guy” and “This Week in Tech”. Belle Beth
Cooper stated that, He's being one of a character who ability to learn from
mistakes. Leo Laporte said: “my biggest mistake was trying to do it all myself.
As a founder I felt like I knew everything I needed to know about media,
content, even the technology involved to reach my audience. And I did. I just
didn’t know anything at all about making a viable business: finance, marketing,
advertising, and human resources”.
After
a few years of rapid growth my company had stalled out, and I was spending more
time fighting fires than I was doing the stuff I loved (and that made us
money).Hiring a business partner then giving her full scope to do her job felt
a little like giving up my company but it was a vital step toward success.
However,
to succeed in a business we cannot do everything on its own. We also need the
help of others to generate ideas for more constructive and progress towards
competitiveness. The main reason these figures do not succeed because he is
convinced that he can do all alone. After he realized that he could not afford
and should take the initiative so that he can be successful in business.
2.1.4 Perceptiveness
Perceptiveness is those who understand or can
think about something correctly. Perceptive entrepreneur is who have a
visionary, wise and they can see what others cannot. In addition, the
perceptive power of entrepreneurship is one of the most important competencies
for the feature, so he must have a tendency to look and think about the
situation or condition that can be effectively and further develop a business.
This perceptiveness attitude will lead entrepreneur to predict the future
through their imagination.
For example we can see through the character
named Tan Sri as someone who has a vision for the company that he founded to
bring Honda motorcycles in Malaysia. Decentralization with the establishment of
the first motorcycle manufactured in Malaysia, namely Assembly Plant Boon Siew
Boon Siew Sdn Bhd owned in Mak Mandin Industrial Estate, Pulau Pinang. With the
establishment of this factory in 1969, Honda motorcycle is no longer installed
in Japan but it was installed in Malaysia and it can indirectly save
installation costs and sales.
Among the features is identified entrepreneurship
as Tan Sri who succeeded and highly respected in Malaysia. Even though he was
illiterate and could not read but he was very visionary in business. Because he
was always look forward and able to anticipate and prepare for what will happen
and lead of him continued success.
In conclusion, an entrepreneur must have a
vision of the nature and characteristics of the tendency of his to be
successful are very high. With the example I have proved with perceptiveness
person will succeed
2.1.5 Time
Competence
Time Competence is the time efficiency of
someone who is very punctual with time when dealing in business. To become a
successful entrepreneur, time efficiency is very important to us. Therefore, we
should use the time efficiently to achieve our career. As the saying goes,
"time is money".
Tan Sri Tony Fernandes is a person who has
time competence. His full name is Anthony Francis Fernandes, but him also known
as Tony Fernandes. In addition, he is also very popular with the title "Tokei
Tiger" and also "Asian Tycoon". He was born on 30 April 1964 in
Kuala Lumpur, Malaysia. He is one of the successful young entrepreneurs in our
country.
That was shown their time competence
was successful. High motivation made him tread step by step to realize his dreams.
All obstacles that he faces he manages to escape until he become successful. He
is a man who seems to be so focused in what he was interested in, so willing to
pawn whatever he had, although still far from adequate as the capital of the company.
It is not a strange, if that's of interest to ordinary goals, but to have an
airline's certainly not something in him that is not expected to have
sufficient capital and only armed with enthusiasm and a strong spirit.
With higher self-confidence that has long
existed in him selves, Tan Sri Tony Fernandes desired to have an own airline.
He determined and he bought Air Asia with his lease and uses all his savings to
buy it including two aircraft obsolescence. With efficiencies that are now
proven he has become one of the richest in Malaysia. So we have to take it as a
lesson in life for success in the future.
2.1.6 Versatility
The
meaning of versatility is the versatility of
an entrepreneur who
has the ability to develop a career in business.
These ideas must be innovative, creative and
productive. With these ideas, automatically an entrepreneur is
able to adapt him or herself in the performance of tasks to achieve success in
business. For example, a figure that
is versatile features being like Thomas Alva Edison.
He can design
a wide variety of designs have been caused by his
creative ideas, innovative,
and productive in
the production of his invention.
Thomas
Alva Edison was a versatile creator. Thomas Alva Edison was born in 1847 in
Milan, Ohio, United States. He only got a formal education for three years and
then he was kicked out of school because his teachers thought these children a
fool. He was an inventor who can serve he has created over 1000 inventions. His
first invention is an electronic voice recorder which sells for 40,000 dollars.
After that, he began to make incandescent bulbs, electric power distribution
system that enables the development of electric lamps for the home. With the
establishment of the first electric lighting for homes, Edison has laid the
foundation for the development of the industry. Next, Edison also contributes
to the development of the film camera that is extraordinary. In addition, among
other creations made by him is the dictation machine, a coffee machine and a
storage battery. This shows Thomas Alva Edison was a versatile figure
entrepreneur with various inventions that he did. In conclusion, its versatile entrepreneur
inside Thomas Alva
Edison is that he can design a variety of inventions
every creation sold for high prices for
example, his creation 40,000 million dollars is an
electronic voice recorder was
much more than that
designed by him. This
shows that he is
a versatile.
2.1.7 Decisive
The
meaning of decisive word is to the effect that an
entrepreneur must have the determination and do not be hesitant in anything done and the
decision made by the firm in business. With
a firm stand that is in the entrepreneur will lead to success will be his
harp in the future. Example of entrepreneur who has the characteristics of decisive is Alexander Ljung. He is the cofounder and
CEO of SoundCloud which is the popular audio platform that has raised more than
$63 million in venture funding. According to CrunchBase, he shared the
importance of learning the power of simplicity in today’s complex world.
“In
recent years, T.S. Eliot’s reported quote – ‘If I had more time, I would have
written a shorter letter’ – has struck with me when making numerous decisions
specifically around leadership, design, and product. The advice I would offer
my 21 years old self is to remember that it takes more mental (and sometimes
physical) bandwidth to create something simple or communicate something simple
or communicate something complicated in basic terms, but ultimately, that’s a
lot nicer for the user experience,” Ljung said. “It is not about building every
feature or understanding everything the first time around. It is about creating
the best, tailored experience for your community and company. I’d remind myself
of the importance to leverage design as a decisive advantage and to not afraid
to challenge people to break down their knowledge into easily digestible,
clearer statements (Nasri, 2014).
Based
on his statement above, it shows us that he is very particular in making the
decision. He knows what he is doing in his life and it actually shows how
decisive he is.
2.1.8 Initiative
The
meaning of the initiative is voluntary. An
entrepreneur who has a high power business
will enable him to see a situation or condition more
efficiently and can lead entrepreneur is
more advanced than others. For the example figure entrepreneur that has
initiative characteristic is Tengku
Amran Harris Tengku
Ismail. He has a high
effort in achieving what they want in life. Although he was disabled
but it will never stop him to achieve what he wants.
Tengku
Arman Harris Tengku Ismail, 36 years
old is having hearing problem. Tengku Arman is one of disabled
entrepreneurs who succeed in making batik
silk company in
Terengganu due to the persistence and perseverance. He used to studying at the middle school in Penang Special Education and Vocational
school in Shah
Alam, Selangor. Before he is involved into creating batik silk he used to work in a
workshop in Kuala
Lumpur in 1990.
After working for a year in
the workshop, he began to work in another place where
is in making batik silk. Tengku
Amran started working
at the factory Romi Batik in Cendering
in 1991 and batik
in Batu Buruk
for several years before opening his own company. To be a successful an entrepreneur in the
industry, he began to build the
company near to his family home to produce
batik on a small scale. The Social Welfare
Department (SWD) has provided him the supporting financial of RM2, 000 to
develop the company. Due to his effort, he was able to open two
shops that have known as "Anas
Butik" in Subangjaya.
It proves to us that, he was able to
open his own company even though
he was disabled.
In conclusion, with the effort he can now prove
that the disabled person can be successful even if
no attempt had reached a high in what is
desired.
2.2
BIOGRAPHY OF SUCCESSFUL ENTREPRENEUR
Faiza
Bawumi Sayed Ahmad
Name : Faiza Bawumi Sayed Ahmad
Age : 70 years old
Origin : Egypt
Position : Managing Director Faiza Company Ltd
Education : Diploma in Tailoring
Faiza
Bawumi Sayed Ahmad is the owner and Managing Director of the rice wholesalers
Faiza Company Ltd. She was setting up her company from small business at home
until being the leading business in Malaysia. Now, Faiza Company is located at
Batu Pahat, Johor and has their own marketing office in several states
nationwide (Norlela, 2008).
Faiza
was born in Egypt in year 1945. Indeed, she also which born in the family who
is involve in the business. Been in the business since childhood she was the
cashier in her father’s shop.
The
experience that led her to be seriously involve in the business. After married
and having a first son, she followed her husband to migrate in Malaysia in year
1964. Faiza is always looking useful activities that could do to avoid the free
time alone. Faiza has shown many attributes as a successful businesswoman such
as versatility, decisive, integrity, perceptiveness and initiative.
As a versatility person, the experience led
her to participate seriously in business. She whohas
adiplomainartstitchesthenshe started sewing embroidery with RM 4 capital
and sells a variety of groceries. She also purchases fabrics to make little
neighbors dress shirts. Then, she produced a set of pillowcase. The result is
beautiful and neat seams sold to friends. Next, she was dealing encyclopedia
set, followed crockery business. Through small scale business, she saves money
to make the next business capital (Zami, 2013).
Using
her saving, she are interested to produces her own curry
powder. She started to buy all type of spices and produce it by her own style
and using Bunga Raya brand. FaizaBawumi also invested millions of money on
TajMahal product which is ponni rice from India. So, after get positive result
about the benefit of the rice from research reported by Universiti Putra
Malaysia, she apply the exclusive license from Beras Nasional (BERNAS). Even
though, Faiza Bawumi has many products, she’s now exploring new areas including
marketing noodles, chili sauces and soy sauces. This can prove that
he was capable of doing many things and has knowledge in various fields.
She
is an initiative person because she is motivated to do things and willing to
get things done by owns self. Faiza was interested in producing different spice
blends for the curries and other Malaysian dishes. She experimented with her
own blend of spices and curry powder. With each new blend, she sold a small
quantity to relatives and friends and asked for their feedback. Over time,
Faiza perfected her recipes and sold them to shops. A few years later, she
bought bigger equipment for her spice blending and work and opened her own
sundry shop (Tan, 2013).
Learned from experienced; Faiza had improvised the
recipes to suit the taste of Malaysian. Since then, the journey through the
open door has begun as the market demand shows positive growth for the
following years. That was at this time when Faiza was divined to formed
independent business unit to spearhead the spice business strategically (Behind The Scene).
Other
than that, Faiza also has become Petronas gas distributor. With the help of her
son, she drives a station wagon and
distributes gas cylinders to everywhere. A few years later, Faiza bought
another spice grinder and a shop in the town of Batu Pahat. The shop is divided
into two; the front is a grocery store whiles the backside processing of
spices. In year 1982, Faiza Company formally established. Faiza developed the
business to apply for a license wholesalers. The customers who bought the
spices he also buys rice from it. Faiza sells variety of types of rice in
Johor, Malacca and Kuala Lumpur (Norlela, 2008).
Besides,
Faiza is a perceptive person. She is
good at understanding things of figuring things out. In the 1990s, there was a
growing awareness to eat healthily. Faiza did some research and imported the
‘Ponni’ rice which is said to be good for diabetic patients (Tan, 2013).
‘Ponni’ rice is planting in Kartanaka, South India. It is believed to have
special herbal quality (Norlela,
2008).
Now, Syarikat Faiza Sdn. Bhd. markets a variety of high quality rice all over
Malaysia. Similarly, Faiza Marketing Sdn. Bhd. handles her spice business (Tan, 2013). In 1997, the
company also has a joint venture with Padi Beras Nasional and became a member
of the Bernas Group. Faiza rice mill now operates on a site area of 40, 000
square feet. It uses high-tech machinery and equipment for the processing and
packaging of rice. The company also has a production capacity of two hundred
metric tons of rice a day. The part of transportation also supported by lorries
equipped to market the products nationwide (Norlela, 2008).
Thus, in 1998 Faiza Marketing Sdn. Bhd. (FMSB) was
incorporated and Mrs. Najwa Abu Bakar (Daughter of Mrs Hajjah Faiza) was the
person who works tirelessly to spread the wing in marketing and manufacturing a
wide range of spices product, to where it is now. Nowadays, with more than 20
types of products and proper promotion channel, FAIZA spices has become one of
the most trusted household brand name throughout the region, under the tagline
Hygiene & Quality. The most popular brand is Faiza Raja Curry, Faiza Curry,
Faiza Beriani and Faiza Bukhari.(Behind The Scene)
Furthermore,
she also is a decisive person. She makes decisions quickly and effectively
based on what she wants to do. As a successful entrepreneur, she must have to
be decisive. Any doubtful in decision making could affect her business. So, she
need to be firm in her decision without any influenced from others in able to
take decision independently.
For
example, she’s not only the manager director of
Faiza Sdn.Bhd but she struggling to ensure his company established in
1992 that is on the right track and gain the profit for each year. After 45
year in this business, she mention that his successful not only for accumulating
wealth but she want to fulfill the aim which is to be the biggest tax payers in
Malaysia thus helping lighten the burden of the most people who are not afford (Zami, 2013). Despite her
success, Faiza does not forget the poor and needy. Having a soft spot for
single mothers, her companies sponsor the TV3 charity programmed ‘Bersamamu’
that highlights the plight of the poor and needy. She is also planning to set
up a foundation, Yayasan Faiza to reach more people.
Next,
she is an integrity and reliability person who is being honest and having
strong moral principles. She always is consistent good in quality or
performance thus able to trust. For entrepreneurial traits, integrity and
reliability must have in entrepreneur because being honest and serve good
quality of product or services can make customer feel confident and trust to
them. This is important in order to keep good reputation of business and ensure
the customer loyalty to be user of the product.
Faiza Bawumi
Company is now known as a high quality product, made one hundred percent Muslim
and halal. She hoped that the involvement in the production of the product it
gives preference to Muslims to obtain a high quality product and without
misgivings to doubt his legal status. To support the trusted status of his
product, Faiza company has also received numerous awards including best
wholesalers in 2000, operational excellence awards Padiberas Nasional Berhad
(Bernas) in 2001 and a gold award for rice and Taj Mahal by Reader's Digest
Super Brand. So, this is the concrete prove show that integrity
and reliability of Faiza Bawumi to the customers.
3.0
CONCLUSION
The
others say that successful entrepreneur is born, not made. However, there have
argument saying that good entrepreneurship is a talent that can be learned and
nurtured. The truth probably lies somewhere in the middle. In our opinion, we
believed that as an entrepreneur we must have a combination of character,
vision, talent, energy, timing and a bit of luck. Entrepreneur can change the
way we live and work. If successful, their innovations may improve our standard
of living. In short, in addition to creating wealth from their entrepreneurial
ventures, they also create jobs and the conditions for prosperous society.
According
to the Islamic perspective, an entrepreneur refers to the personality of a
Muslim entrepreneur by how they are solving the problem regarding to Islamic
value such as ambition, intuition, emotionally and physically preparation.
Based on Quran, Allah has stated: “And We have certainly established you upon
the earth and made for you therein ways of livelihood. Little are you
grateful.” (Surah Al-A’raf: 10). All entrepreneur are leader even there a not a
leader to any organization, there are leader and responsible to let their own
selves.
By
any chance, entrepreneur also creates the job opportunity to the society. As an
entrepreneur, they can help develop the lives of others by providing the jobs
thus they have their own income to support their daily life. Additionally, the
cascading effect of increased employment and higher earnings contribute to
better national income in form of higher tax revenue and higher government
spending. This revenue can be used by the government to invest in other,
struggling sectors and human capital.
In
conclusion, there a lot of the outcome that we get from this assignment
including interested us to be an entrepreneur, get know further about the
traits of successful entrepreneur and also can apply this knowledge in the
future. As an entrepreneur, we must grab the opportunity of business and
perform with our own way based on the knowledge and skills availability.
