Friday 20 November 2015

TASK 1 : PART I ( INTRODUCTION)

              
1.0       

  Entrepreneurial Traits

1)         Visionary
Any success in life must begin with a vision. A vision is the ability to see what others cannot see. It is being able to have a picture in the mind of exactly the result that is intended to produce. The visionary entrepreneur is able to see exactly what his or her business is going to look like in every detail when it is finished.
What does it mean by finished? A business is an investment. We are building an asset. And any asset whether it is, a stock, real estate, or a business must have an exit strategy before we start. Once our business is working exactly how we envisioned it, in every detail, we are either going to sell it, or we are going to keep it, which means we are buying it yourself. And if we buy our own business, we do better make sure that it is worth the price that we pay for it.
Let's look at the difference between a business owner and an entrepreneur. A business owner starts a business to be his or her own boss or to create a secure job for him or herself. They usually start a business in his or her own field of knowledge. Rarely does a business owner have a vision of what they want for their life, let alone for their business. So, they end up working in their business day in and day out, and they end up being nothing but an overworked and underpaid employee.
An entrepreneur on the other hand, builds a business because it is exciting and challenging. It requires every part of them to make it successful. They have a picture, a clear vision of how that business is going to work in every detail and the result it is going to produce. They never work in their business; rather they work on their business. An entrepreneur rarely starts a business in his or her own field of knowledge. They put the right system in place to make their vision become a reality. An entrepreneur looks at systems. They don't get tied up in the day to day activities of their business. This frees them up to start new businesses, and either sells existing their businesses, or takes them public.





This is why an entrepreneur like Donald Trump can run as many as 50 businesses at one time. This is because he is a true visionary. Donald John Trump who is born in June 14 1946 is an American real estate developer, television personality, business author and political candidate. He is the chairman and president of The Trump Organization, and the founder of Trump Entertainment Resorts. Trump's career, branding efforts, lifestyle and outspoken manner helped make him a celebrity, a status amplified by the success of his NBC reality show, The Apprentice.
As an example, three people have come to Donald Trump's defense following his stormy week - namely his children Donald Jr, Ivanka and Eric. The trio gave the presidential hopeful a ringing endorsement as a 'true visionary' and an 'incredible dad'. In a statement they told People: 'Our father, Donald J. Trump is a true visionary and a great mentor. He is a brilliant negotiator with a proven track record of getting things done. 'Most importantly, he is an incredible dad and role model. He raised us to work hard and strive for excellence in all that we do.

2)        Failure is an Option
No matter how many times we chant “Failure is not an option,” our rational mind is going to whisper, “Want to bet?” Because stuff happens, and any entrepreneur who thinks she or he controls all the contingencies is delusional. It’s our mind set about the stuff that happens that makes all the difference. Going into a venture trying convince our self that failure is not an acceptable option can not only hamper our creativity in planning for contingencies, it also makes it much harder to bounce back from failure if it happens. Change that mantra to “I will not allow myself to be a failure.” Now we are setting our intention on an outcome we can control, because we are the only judge that matters here. Projects fail, businesses fail, people fail to do the things they promised or wanted to do. But no one is a failure until they choose what they want to be.




Dato’ Aliff Syukri is an entrepreneur that believed failure is an option to make his business success. He is well known by his tagline ‘Terlajak Laris’. It was his marketing strategy to promote his product. Failure makes him have more experience and that experience made his to lead the company today. He started his business since he was seven years old and his spirit is present to do a business when he see his schoolmate has 50 cents of pocket money while he was only has 20 cents of pocket money. In getting capital for his business, he has been going to the bank to make some loan but he was rejected by the bank. He is still not going to give up and he tried to get a loan from his friends. He finally collected RM 100,000 from the initial loan and the money accumulated as a result of his business at the market for 2 years. It is enough to help Dato’ Syukri build his own brand named D’herbs.

3)         Open Culture
''Open Culture'' is a concept according to which knowledge should be spread freely and its growth should come from developing, altering or enriching already existing works on the basis of sharing and collaboration, without being restricted by rules linked to the legal protection of intellectual property. In a context of globalization, the consequence is that all citizens should have equal access to information.





Open culture can be seen from entrepreneur Tan Sri Syed Mokhtar, he did a lot of charity work and welfare particularly in the state of Perak and Kedah. He always think about the interest of public before making any decisions in business. He also reaching out to the community by contributing to social responsibility. For example, Tan Sri Syed Mokhtar sponsored tuition classes for Malay students and gave a contribution of RM 1mil for Tsunami Fund. Other than that, every year he give sponsors to the Muslims in Malaysia who are unable to perform the haj.
Next, Tan Sri Syed Mokhtar also donate a million of his money to charity project every year under Yayasan Al-Bukhary to suppport the efforts of Islamic Art and Culture.  He opens Al- Bukhary tuition to the poor students around the country. He also the one has many contributions in the global development.
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REFERENCES
Notter, J., & Grant, M. (2011). Open Culture: Decentralization. In Humanize: How people-centric organizations succeed in a social world. Indianapolis, Ind.: Que ;.
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