1.0 Introduction
Entrepreneurs are individuals who manage the
company. The entrepreneur also who is exercising initiative by organizing a
venture to take benefit of an opportunity and make a decision like what, how,
and how much of a good or service will be produced. The entrepreneur usually a
sole proprietor, a partner, or the one who owns the majority of shares in an
incorporated venture. The word of entrepreneur originates from the French word
which is “entreprendre”. Entreprendre means take task and try. The word
entrepreneur is already used by Richard Cantillon in 1775 years. That mean
activity in business has long existed.
2.0 Essential entrepreneurial characteristics needed by entrepreneurs.
1. Internal locus of control
Internal
locus of control is a step for someone to trust for your own ability without
influence from external factor. Internal locus of control that higher is very important
for entrepreneur because the entrepreneur need to handle their own business
with full of confident and use their own ability with optimum to success.
Entrepreneur that has this role usually confident on making their own decision
that has been made with their own importance to entrepreneur and also to
everyone. Entrepreneur that has internal locus of control is not easy to be
influence by other external factor such as rumor, fake information and others
thing that is detrimental to entrepreneurs.
2. Take a risk to bear it
The meaning of ‘take a risk to bear it’
is that the entrepreneur has to face the obstacle of the world of entrepreneur
that might bring profit or loss to their own business. Entrepreneur need to
evaluate and considerate when to take a risk. This is because, the risk that
need to bear will ensure make a good profit for the business. If the
entrepreneur didn’t make an evaluate and considerate on the risk, it might make
the business to bear a loss on the business. To avoid the loss, the
entrepreneur need to manage the risk that have been face with good so that the
entrepreneur can get benefit from the risk that have been take. For example, Tan Sri
Syed Mokhtar Al-Bukhari where he was involved in Islamic banking by acquiring a
series of Bank Muamalat Malaysia Berhad. Financial and banking sector of the
high risk and require that entrepreneurs can face these risks to avoid losses.
However, he is very efficient because before he ventured into this field. He
has already bearing risks faced by him until now Bank Muamalat Malaysia still
standing strong.
3. Initiative and responsibility
Initiative and
responsibility means that the entrepreneurs have a passion or a habit to carry
out its duties without having been ordered or forced. Attitude took the
initiative and responsibility should be in every entrepreneur to demonstrate
positive characteristics of entrepreneurs is in itself. An entrepreneur who
has the initiative and responsibility will seek opportunities that exist and
explore uncharted areas of business by entrepreneur’s apart cares about the
community. For example, Tan Sri Loh Boon Liew, who have initiative and
responsible attitude toward the controlling interest acquired Honda
motorcycles.
4. Social entrepreneurship
Social
entrepreneurship means the contribution of entrepreneurs to social
organizations or nonprofit organizations to provide aid to underprivileged
communities and social entrepreneurship to be a trend for entrepreneurs who
want to succeed. This is because the
act of helping the poor can indirectly cause the hearts of our customers and
clients feel confident about the products manufactured by the entrepreneur.
Thus, the entrepreneur will take the opportunity to carry out beneficial
activities and add value to the objectives of the society. They exist in
communities, sometimes known as the entrepreneur community. Such as, Syarikat Faizah that make a
sponsorship through the program of Bersamamu that been organized by TV3. With
the establishment of this program, it has make Syarikat Faizah as famous for
its own product and always be the user’s choice.
5. Creative and innovative
Creative means entrepreneurs who
are able to produce new products to meet user needs and requirements while
innovative means that entrepreneurs always want to progress and innovate
something. Entrepreneur that are creative and innovative are entrepreneurs who
can generate new ideas and concepts and be able to translate it into products
that can be commercialized. Successful entrepreneurs need to have this feature
to gain a competitive edge, particularly in the use of high technology and
latest. If not, the
entrepreneurs will be left behind and unable to compete in global market. For
example, Michael Dell of entrepreneurs Dell Corporation is the first to
introduce on-line computer purchase directly online using the internet to
consumers. Until now, users can make purchases through the Internet to date
considered to be more convenient and economical.
6. Level Workforce
In order to achieve success in business,
entrepreneurs must always be willing to work hard and sacrifies time and energy
to develop a business. Entrepreneurs need a high level of employment,
especially at the beginning and pre-commencement of business. At the beginning
of this, entrepreneurs need to do a lot of work and study analytically to
achieve the goals and vision of his efforts. Therefore, entrepreneurs have to
work hard, to sacrifice everything and work more than others for the success of
the business. For example at age 19, Tan Sri Syed Mokhtar Al-Bukhari has used
his teenage doing business with the purchase of cattle and buffalo. In
addition, after-school Tan Sri Syed Mokhtar helped his pet shearing. He also
studies business and sell vegetables and roti canai in the market. Tan Sri Syed
Mokhtar also strives to ensure successful family business and always make sure
that he gets the experience that can be used for the future.
7. Leadership
Leadership qualities that are in
themselves entrepreneurs should be consistent with the objectives and vision of
the business. This is because of the nature of leadership is very important for
the development of a business. Successful entrepreneurs must have a high
perceived leadership qualities. Entrepreneurs themselves will determine the
goals and direction to be achieved by the business. Up to now there are a lot
of leadership qualities that are used by leaders including leadership,
charismatic, transactional leadership, transformational leadership and
visionary leadership. Entrepreneurs who possess strong leadership able to
motivate its employees. Entrepreneurs also need to be smart design, control and
administration of the business very well. For example, entrepreneurs who have
leadership qualities, especially Muslim entrepreneurs is Muhammad s.a.w where
he helped Siti Khadijah doing business in Mecca and so he gained the trust of
Siti Khadijah own.
8. Viable
Viable means entrepreneurs are always at
the forefront in any circumstances whatsoever that hinder. A viable
entrepreneurs will find new ideas and can integrate these ideas into the
rational and creative solutions. In addition, they will also always find
strategies more efficient than existing, and because of that they are always
ahead of the other competitors. For example, the founder and leader of the
airfare cost, Tan Sri Tony Fernandes. He is an entrepreneur with a viable and
competitive in ensuring the success of Air Asia. This feature makes him a
creative and dynamic in all actions they perform.
9.Can
see and take opportunities
The business chances exist because
some people make a nonsense problem. As example, differentiation in technology,
customers have changing taste, and the changes of life style. The entrepreneurs
grab and implement the chance as a precondition to be a success. As
entrepreneur, that can predict and analyses chance, they will never miss the
important chance that can bring a great return to their organization easily.
Entrepreneurs who have this characteristic can be said as unique because they
can see the bright future better than others towards the chance that will be
taken. As example, the nature that can find and get business chance that have
big potential to give the best profit belonged to Tan Sri Syed Mokhtar, it
cause he cannot only focus at one business only. Thus, he make a diversify in
business sector followed the changes and current demand. Tan Sri Syed Mokhtar
Al-Bukhari had involved himself in transport sector, rice trade, sugar and
cloth to fulfill current demand. At the same time, Tan Sri Syed Mokhtar had
taken the opportunities to involved in shipping sector. Tan Sri Syed Mokhtar
also always analyses surrounding and current demand, thus get the chance on what
happened.
1Optimistic
Optimistic mean characteristic of
entrepreneur that always think the future and always set positive thinking
toward every action is taken. Entrepreneur like this can afford to face the
challenges, difficulties and hardship. The optimistic entrepreneur though that
every hardship is usually in business sector that will be face with others.
Entrepreneur like this has bright opportunity to achieve goal in the future. As
example, Tan Sri Lim Goh Tong is a project manager of Genting Highlands. Once
upon a time, many people told that the project was in process are idiot, crazy
and waste time. All of their assumption totally wrong, when the project succeed
has complete, until he become famous as well as being among the ten richest
people in Malaysia and Southeast Asia.
1Confident
Confident in the abilities themselves, an entrepreneur
needs to have confidence in the ability, capacity and capability to secure
itself-founded business success. Confidence in the abilities themselves mean,
entrepreneurs have a stand in making any decision despite stiff opposition from
various quarters. Entrepreneurs must be bold and confident in all actions to
achieve the goals and vision organization. For exam, Tan Sri The Hong Piow
before setting up his own bank, he only served as a clerk at the Overseas
Chinese Banking Corporation (OCBC) until promoted to officer. His knowledge, experience
and confidence during his tenure at the Maybank manager and was subsequently
promoted to general manager with confidence and determination, he finally
founded Public Bank and was appointed Chief Executive Officer (CEO) of the
bank. Now, Public Bank a bank that is rapidly developing under the auspices of
Tan Sri The.
3.0 How successful entrepreneur in Malaysia using the entrepreneurial
characteristics to achieve success in his/her business
For
selecting a successful entrepreneur figure based on examples of leaders who
have been studied, Tan Sri Syed Mokhtar Al-Bukhary is that researchers select
the human on the basis of his success in becoming one of the richest Bumiputera
entrepreneurs in Malaysia. Name Tan Sri Syed Mokhtar Al-Bukhary, is very known
and respected among Malaysians, especially the Malays because he was a figure
of Malay entrepreneurs who have a love of wealth and welfare matters. Born in
Alor Setar, Kedah was born in 1951. He was the third child of seven siblings,
actually he came from a disadvantaged background. The difficulties faced by his
cause, he intended to change the pattern of family life by going into business.
In
the early stages of education, he started school in Alor Setar and then on
reaching the age of 9 years old, he was educated in Johor Baharu after being
sent him to live with his uncle Syed Omar, so that he entered two levels. After
that, he returned to Alor Star and then continue his studies up to form five at
Saint Michael's College (Rosli Mahmood et al., 2010). The inability of his
life, causing his desire to continue their studies at a higher level had been
forgotten.
By
the 1970s, his father's livestock business has been in decline due to the
outbreak of foot and mouth disease that has spread throughout southern
Thailand, Kedah and Perlis. This resulted in all animals died from the
outbreak. Since then, Tan Sri Syed Mokhtar has taken over his father's business
and he decided to no longer engage in farming, but instead sell frozen meat on
a small scale (Rosli Mahmood et al., 2010). At this point, he began to engage
in business as an entrepreneur on a small scale to large scale such as the
present. Among the six characteristics that should be emulated by entrepreneurs,
who are on the inside of Tan Sri Syed Mokhtar Al-Bukhary is daring to take
risks, a network of entrepreneurs, proactive, failure on their own choice and
have a vision of its own.
1
Dare to take risks
Risk refers to the uncertainly in
decision-making and the impact borne by the decision maker is Rosli Mahmood et
al (2010) stated that in theory, the higher the risks and the higher the
returns will be accepted. He was a bold first move in the commodity business
with only rice and then expand its business into other commodities, namely
sugar through Bukhari Sdn. Bhd. even do not have a lot of knowledge about it.
Later, he went on to establish Bukhary (KL) Sdn. Bhd. for the contract to
supply rice, tea, ghee, powdered milk and chocolate from the government. Certain
extent through his courageous efforts in taking the risk of going into business
has paid off so much that he can diversify his business selling without a need
to rely on a business revenues only (Ashadi Zain, 2005).
2
Web entrepreneurs
According to Mohd Salleh Din et al. (2005), a
network of entrepreneurs brings meaning to the relationship that occurs and is
maintained by an entrepreneur with the surrounding community in order to
achieve mutual benefit. In 1979, after obtaining the supply contract from the
government, he founded Susu Mas Sdn. Bhd. which is a joint venture with New
Zealand Milk Products and markets its products under the brand Anchor and
Fernleaf. In this feature to create a network of entrepreneurs, too, can be
seen when Tan Sri Syed Mokhtar began to implement the barter system by
converting the output of cocoa and tea from China. The purpose of this is to
create a business network to expand the market for its products around the
world (Rosli Mahmood et al., 2010).
3
Proactive
Proactive generally intends to take action
before it's time to act (Sudin Haron, 1990). In fact, this feature also
involves the positive attitude of an individual or institution in planning or
performing an action, which will be considered criticality in advance again.
This is to prevent the occurrence of something that absolutely requires the act
in question. The action will not be done by the entrepreneur only after
something has happened. These features prove that Tan Sri Syed Mokhtar
Al-Bukhari wise approach to ensure the success of a business project that has
been designed by him. As an example, he ventured into the manufacture of
military uniforms for the Ministry of defense. There is 120,000 pairs of shoes
and 330,000 pairs of uniforms. It has made their mark in the field of garment
manufacturing. Eventually he formed Amtek Division to manufacture shoes and
Oriental Garment Uniform clothing (Rosli Mahmood et al, 2010). Wisdom
possessed by him in taking the opportunity given, cause he has also managed to
remove shoes and military clothing designer Louis and Lee Cooper.
4
Failure of choice
Each individual's success need not be
obtained without fail. When businesses that have failed, it depends on the
individual's choice to continue to let failure because difficulty for success
or as a catalyst for a person to rise from the previous and subsequent failure
to motivate the success of any matter undertaken (Drucker, 1985). This feature
also proved in his success, he never failed before achieving success at the
present time. Some examples of failure experienced by him is when he
established the shipping company Shipping Bukhari's role as a broker of vessels
under the cabotage policy. A German-made ship was purchased by him in US1
million dollars, for the transport of rice from Thailand to Sabah and Sarawak.
However, losses have been suffered by him forced him to sell the vessel at a
price of USD600, 000 dollars. So, she was seen as a huge mistake in choosing to
venture into this shipping, so bring a large number of losses (Ashadi Zain,
2005). But, failure faced by him, was taken as a positive lesson so much that
can further its business in various fields of lucrative income.
5
Vision
In short, the vision is an ambitious goal and
foresight to be achieved at certain times (Mohd Salleh Din et al., 2005). When
we mention the name of Tan Sri Syed Mokhtar Al-Bukhari, of course, his name
will be followed by the title "Billionaire Philanthropist". He was
not only a visionary in the field of business, but he is a very loving
entrepreneur welfare. This is so because, he believes that the sustenance comes
from God is not for him alone but for the public as well. This is one of the
handles or the vision of his life. In addition, he also believes that the good
things we are doing on this earth will remain and be taken to the next.
Therefore, he has set up Yayasan al-Bukhary in March 1996 to help the poor and
support the development of art and culture in the Muslim community (Ashadi
Zain, 2005).
6 Result
oriented
As can be appreciated, the success of Tan Sri
Syed Mokhtar Al Bukhary is based on the characteristics of entrepreneurship
that exists on his own. Among these are results-oriented. He said to create
success in this aspect is because he makes money as a result of an SBA loan of
RM110, 000 to purchase two trucks to transport rice Mercedes 911LS under his
own company, namely the Transport Company Limited. As the business grew, he had
purchased several lorries to facilitate the transportation of goods and more
than 40 trucks have until now. He is wisely generating opportunities and
develop other business to business results-oriented way before. For example, he
established the company to apply for licenses Shah and trading of rice from the
National Rice Board, which is now known as Bernas and managed to get a contract
for the supply of rice to the FELDA, MARA namesake, Pernas Edar and Sergam Sdn.
Bhd., A subsidiary of the Johor State Economic Development Corporation. After
success with the Company Shah, he set up a joint venture with two Chinese
businessmen, namely Ghiak Gee Ng and Chua Chong Tan. Ghiak Gee was Chong Tan
rice traders while the rice millers. Of rice, he later expanded its business to
other commodities, such as sugar.
7
Integrity
Tan Sri Syed Mokhtar Al-Bukhary is a familiar
figure in Malaysia. He is a prominent businessman of integrity and an example
to other entrepreneurs. It is thus seen when he managed to get rice trading
license from the National Rice Board or Bernas. He has become one of our
suppliers of rice to countries with a share-holding of 52% in the joint venture
company between NG Ghiak Gee and Chua ChongTan to supply rice. This shows that
he definitely trusted by others so that he was able to open his own company,
namely Bukhary Sdn Bhd. He also gained the trust of other stakeholders such as
the Chinese nation to go into business with him. It is well known that
large-scale business requires a lot of investment and also have a high risk.
However, Tan Sri Syed Mokhtar Al-Bukhary is a respected entrepreneur and
disanjumgi by other business partners as he ventured into various businesses in
the packaging industry, manufacturing, food, transportation and so on and
successfully manage its business wisely. This made him an icon of integrity of
business prospects. Not only had he managed to expand its market to overseas
and gain the confidence of consumers overseas. In fact, he also recognized with
numerous awards and gained recognition from magazines and famous people. Among
them are the Panglima Setia Mahkota (PSM) by His Majesty Seri Paduka Baginda
Yang di-Pertuan Agong which carries the title Tan Sri and the Dato 'Setia
Mahkota Kedah (DSDK) by HRH the Sultan of Kedah which carries the title Dato'
Award of Distinction (2009), he was also selected as Maal Hijrah 1429H,
Malaysia's Award Chosen One 'and Time Magazine (2002) and many others.
8
Firm
Tan Sri Syed Mokhtar AlBukhary an indigenous
richest individuals in Malaysia. Estimated wealth amounted to RM10.6 billion.
The secret of success and wealth Tan Sri Syed Mokhtar AlBukhary due to his
entrepreneurial savvy to practice. He also adhered to the principle that we all
need to be strong and successful so that we have the ability to help others.
The nature of his intelligence could be proved by any new business strategy
will be conducted, he will appoint several people as a business partner to run
his business and as the largest shareholder in the company. He also decided to
save the MMC and Pernas who are experiencing severe losses and management
disarray. In addition, every day, he would call 100 people composed of
leading-leading businesses to get the latest input business development
respectively. He also advised not to engage in business in the form of
Ali-Baba. They take equity allocated to them and then sell to the Chinese
people with a higher price. Malays were only involved in business in name only,
the reality of doing business that is Chinese. Examples of such tax permits and
licenses, and IPOs. According to Tan Sri Syed Mokhtar AlBukhary, as a trader,
it is important to not just be an errand boy alone. There needs to be
innovative and constantly improve themselves and the business. For example,
from suppliers to manufacturers. Tan Sri Syed Mokhtar AlBukhary also reminded
never to do something outside of your financial capabilities, create first,
talk later and wealth must be distributed.
9
Initiative
As a successful entrepreneur, Tan Sri Syed
Mokhtar has the characteristics of entrepreneurs who took the initiative. This
is so because, the foundation built by him, namely al-Bukhary Foundation has
conducted mega projects, namely the construction of a business complex (Souq)
al-Bukhary in Alor Setar worth RM400 million which have been completed. Complex
al-Bukhary, who was later named Centre of Excellence Sharifah Rokiah include
Dialysis and Hospital Albukhary, Hostel Albukhary, Masjid Al-Bukhary, the
Public Education Center 'cottage' Modern Home Orphanage Albukhary Center Special
Children and Elderly Care Center. The Foundation is also developing the Islamic
Arts Museum Malaysia in Kuala Lumpur worth RM100 million. Four-storey building
is the first museum in the Asia Pacific region which displays the result of
Islamic art. In fact, 12 mosques were built by the Foundation around the world.
This clearly shows that he took the initiative to build a large complex in
addition to doing charitable funds to establish care centres, provision of
education and more.
10 Ability to learn from mistake
He never knew
about failure in his life and he always learn from mistakes. He always be
careful in his business. He responsible on what he was doing. He always think
that wealth hat we get come from responsible. He said, he must do kindness
although it small but it bless. He also didn’t selfish. Success and wealth is
belongs to Allah and use it in the right way. He never give up, strong to wake
up from mistakes. Don’t make religion is the place to us to rely when
we in trouble. I act according to the needs of affected but continue to strive
to make every problem resolved as soon as possible. When he has a problem, he
can solve the problem with wise and calm. He did not give up under any
circumstances. He said, to develop a strong business need to be patient and
work. He also advise young entrepreneurs do not want to
succeed quickly. Every effort is absolutely necessary through a phase of
adversity, challenges and so on. He took off his own example that starts from
the bottom with the help of his father sold the cattle and buffalo in the
village before reaching the stage now. If we go through the hard way, then we
will find a way to appreciate and love. Usually when a breakthrough short, too
easy for the business we do it crashed. "If we go through the hard way,
then we will find a way to appreciate and love," he explained briefly.
11 Perceptiveness
He built his business at Kuala Lumpur to grab the
opportunity to get the job from the government and him success to start
commodity business such as sugar and rice. He is always looking for other
business opportunities that can help others develop youth themselves and not
just for himself alone. He is very happy to help others people. Tan Sri Syed
Mokhtar Shah bin Syed Al-Bukhary started his business as an entrepreneur meat
in 1970. He is also the owner of Yayasan
Al-Bukhary and is involved with the business based on farming, construction,
engineering, infrastructure and ports. But in the 80s he wisely the money by
switching to a transport plane that had brought him success and made it the
richest Bumiputera corporate figure in Malaysia. He wisely took a chance and
use the opportunity to forge greater success. This is because, not everyone
will see it as an opportunity.
4.0 Conclusion
In summary, the combination of the six characteristics of entrepreneurs on the inside of Tan Sri Syed Mokhtar Al-Bukhari, it has been proven that he is an entrepreneur who should be emulated by the public. Therefore, efforts towards a better must be continued and put into practice because there is no simple and easy way to become a successful entrepreneur. In fact, even if someone is coming from a poor family that is no reason to deprive a person of success in this world and the hereafter as practiced by Tan Sri Syed Mokhtar Al-Bukhary.
In summary, the combination of the six characteristics of entrepreneurs on the inside of Tan Sri Syed Mokhtar Al-Bukhari, it has been proven that he is an entrepreneur who should be emulated by the public. Therefore, efforts towards a better must be continued and put into practice because there is no simple and easy way to become a successful entrepreneur. In fact, even if someone is coming from a poor family that is no reason to deprive a person of success in this world and the hereafter as practiced by Tan Sri Syed Mokhtar Al-Bukhary.
References
Aini Hayati Mohamed, 2015. Pengajian Perniagaan. Petaling jaya, Selangor : Penerbitan Sasbadi Sdn. Bhd
Ong Chai Lin, 2010. Prinsip-prinsip Keusahawanan. Malaysia : Penerbitan Cengage Learning Asia Pte Ltd
Google (2016). The Characteristic of Entrepreneur – 2.1 Retrieved november 8, 2016 from https://www.academia.edu
Google (2016). 10 Characteristics of successful entrepreneur – 2.1 Retrieved november 9, 2016 from http://www.investopedia.com
Aini Hayati Mohamed, 2015. Pengajian Perniagaan. Petaling jaya, Selangor : Penerbitan Sasbadi Sdn. Bhd
Ong Chai Lin, 2010. Prinsip-prinsip Keusahawanan. Malaysia : Penerbitan Cengage Learning Asia Pte Ltd
Google (2016). The Characteristic of Entrepreneur – 2.1 Retrieved november 8, 2016 from https://www.academia.edu
Google (2016). 10 Characteristics of successful entrepreneur – 2.1 Retrieved november 9, 2016 from http://www.investopedia.com
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