ENTREPRENEUR : TRAITS OF TAN SRI SYED MOKHTAR AL-BUKHARY

TAN SRI SYED MOKHTAR AL-BUKHARY

INTRODUCTION

Entrepreneurs are those who innovate, willing to take risks and generate new ideas to create solutions for future problems. They are also able to help the organization has matured and established new organizations in taking chances. The most obvious form of entrepreneurship is to start a new business or referred to as "start-up the company". This, entrepreneurship has been expanded to include aspects of social and political forms of entrepreneurial social entrepreneurship.

More than that, entrepreneur also is a catalyst for development and economic growth of a country. Forward and backward economy of a country is dependent on a dynamic entrepreneur and visionary. They are a unique individual and different from ordinary human. Entrepreneurial traits that exist in individual entrepreneurs not only able to develop their own self-entrepreneurs, but also responsible for the development of society and the state. When talking about the entrepreneurial activities within a firm or large organization, it refers to entrepreneurship and involve "corporate venturing" of large business entities set up "spin-off organizations". Companies have realized the advantages of the internal potential of entrepreneurial activity and often has a specialist innovation within their organizations to develop creative solutions to complex problems. Google has become famous for allowing all employees to dedicate 20 percent of their time to any new project of their choosing. Entrepreneurs have become an important part of business.

Various kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some non-governmental organizations. The concept of entrepreneurship has emerged as a particular idea, creating social entrepreneurship, political entrepreneurship and entrepreneurial knowledge.

Joseph Schumpeter described an entrepreneur as "one who is willing and able to convert a new idea or invention into a successful innovation." Entrepreneurship using what Schumpeter called creative destruction hurricane. Schumpeter's ideas include more than a single innovation, as he goes on to explain how innovative thinking allows for sustainable growth and long-term economy for the people who enable it.

1.0  NINE ENTREPRENEUR TRAITS

1.1  Networked
Networks is the business tools that play important role to make sure the entrepreneur will become the successful entrepreneur. If the entrepreneur have a good networks with internal users and external users, that become easy to entrepreneur to have an advantages towards their business opportunity and solving their business problem. Good network that an entrepreneur have will increase their change to get support and cooperation within the networks. So, every single entrepreneur should start to build their own networking skills because this skill will help them to achieve their business vision and mission. There were two type of network which is official network and non-official network.

1.2  Open risk taker

As an entrepreneurs, challenge is the first thing to defeat before achieve a success. One of entrepreneur behaviour is to take a risk. Entrepreneur as an open risk taker can be describe as an individual or business organization that tends to behave in a way that can potentially cause physical harm or financial loss, but might also present an opportunity for 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.

1.3  Observant
Observant can be defined as quick to notice or perceive, or careful in the observing of law, custom, and so on. An entrepreneur must have the ability to observe the environment around him such as changing in technologic, changes in customer tastes, changes in living style, and so on. The observant entrepreneur will quick to notice something. A successful entrepreneur view even further to develop its business. The observant entrepreneur will sensitive to the change environment such as change of technology, change of customer taste and so on. The observant entrepreneur will plan, analyse, formulate, and take every opportunity with the change of environment.

1.4  Visionary
A visionary entrepreneur is one who is able to see what others are not able to see. They always have fresh and unique ideas and want to do something that no one else had done. A vision is more than an idea. When we say an entrepreneur has vision, that means he is able to see far into the future without being farsighted and remain rooted in the present without being near-sighted. They have prior vision of what they want to do and achieve in their life. They will strive hard in order to turn their vision into reality.

1.5  Failure is an option

Nobody wants to fail, but failing is an obstacles that each entrepreneur have to face on their way to success. This is a kind of the principles in entrepreneur life but unfortunately, people often do the exact opposite. They cannot go through the failure and surrender. They don’t tolerate failure but they tolerate fear. They let fear get in the way of reaching their dreams. A super entrepreneur can through this failure without surrender if he or she have a good interior control in their self.

1.6  Open culture

Entrepreneurial culture is a set of norms, beliefs and practices shared by a group or organization. It can also be said is a process of development and personality attitude towards entrepreneurs for outstanding work done by him. In business, the idea of a culture is all too often dismissed by those at the top companies but that was are excellent way to developed a company.It is still considered the preserve of the Human Resources Department and rarely makes its way onto the agenda of the people in leadership.

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. These factors can predict with perfect if it can help entrepreneurs to identify potential and business opportunities. Meaning that, Socio cultural is a factors can also identify the purchasing power of consumers.

1.7  Outcome oriented

One of the features that must be available on a successful entrepreneur is a results-oriented spirit. Outcome oriented entrepreneur will concerned with performance or results obtained at a later date. Entrepreneurs will be more competitive and will get a better grade product and quality. Entrepreneurs with outcome oriented will always trying to create something new to meet the needs and desires of their market. This way will expand the market and users of goods or services. The main objective of the orientation is characterized entrepreneurs who are always looking forward to see the opportunities that may be present in the future and how to take advantage of those opportunities.

1.8  Team oriented

Team oriented can be defined as a group of individual who carrying out the responsibilities and task together and work together to achieve the goals. Everyone has a contributing factor in the operations and decisions that concern the business or venture. No one is more superior in the business and everybody has an equal say and work as part of the team. In order to expand or flourish the business, team spirit is the key to success because an effective team is more productive than an individual effort.

1.9  proactive

According to the second edition of the Student Dictionary, means to be positive and proactive plan and control the actions carried out much earlier than expected will force things or events.

2.0  BIOGRAPHY OF TAN SRI SYED MOKHTAR AL-BUKHARY

Tan Sri Syed Mokhtar Shah bin Syed Nor Al-Bukhary is the richest Bumiputra corporate figure in Malaysia. He was born in Alor Setar, Kedah on 1952. He was the founder of Albukhary Foundation. He has four children with his wife, Zarah Al Bukhary. Behind his successful life, he just SPM graduate. He started his business with selling meat in small scale on 1970. With involvement in diversified business areas which include transportation and logistics, plantations, property development, defense and armory as well as engineering and power generation, he has a net worth estimated to be RM7.55 billion according to Forbes making him the 8th richest Malaysian. Right now, he has three others companies under Al Bukhary which is DRB-Hicom Bhd, Malaysia Mining Corporation (MMC) and Tradewinds Malaysia Berhad.

3.0  FIVE TRAITS OF TAN SRI SYED MOKHTAR AL-BUKHARY

3.1  Open risk taker

We can say that Tan Sri Syed Mokhtar is an open risk taker person. He very courage and had higher self-confidence and determination in doing his business. He involved diversifying business areas from selling meat until set up the company and keep expand his business to in and outside Malaysia. After successful transportation, packaging and barter sector, he keep moving to manufacturing sector and got the supply garment uniform contract. He take the decisions to establish two more company which are Amtek Holdings and Oriental Garment Uniform Division. Then he involved in shipping sector and established Bukhary Shipping under CABOTAGE policy. He bought a ship that made from German at price USD1million which named as Angsa Mas. Unfortunately, he faced losses that forced he to sell his ship at price USD 600,000 which is loss as much USD400,000. Tan Sri Syed Mokhtar never give up, he continue invoved another sector which is property sector and bought some land and set up the project under Bukhary Development. As we can see, though he bears loss and failure shipping sector, he still courage and confidence to do other sectors.

3.2  Visionary

Tan Sri Syed Mokhtar Al Bukhary is a visionary entrepreneur. After his father's livestock farming business effected by disease which spread to Thailand, Kedah and Perlis. The diseases make the death of livestock and his father need to bear all the losses. From that, he don’t want to get involved in livestock faming because to avoid from bearing losses in future. So, he take the alternatives to sell the meat in small scale by looking unsold meat at Alor Star and resell to restaurants and other sellers. Other life story that we can relate Tan Sri Syed Mokhtar as visionary entrepreneur is when he participate trade delegation to Canton Trade Expo at China. He grab the opportunity by executing the barter system which is exchange his cocoa with tea from China. It gave benefits to the company in future and also grew the economy because of export and import.

3.3  Outcome oriented

Tan Sri Syed Mokhtar Al Bukhary not only contribute within in Malaysia but also includes international arena. For example, he was responsible for luring the well-known shopping mall in London like Harrods. By this, he can attract them to invest in Malaysia by his company, Amtek Holdings Sdn. Bhd. The project of Museum of Islamic Art at Kuala Lumpur tighten his stature in international area. It also would promote Malaysia to others countries and attract them to visit Malaysia. He also took part in social sector especially in the Islamic Social and welfare activities. For example, Al Bukhary Mosque Complex which is landmark in Kedah. He was granted with several awards for his vast services and contributions. His Majesty Seri Paduka Baginda Yang di-Pertua Agong and HRH the Sultan Kedah awarded Panglima Setia Mahkota (P.S.M) and Dato’ Setia Mahkota Kedah (D.S.D.K) respectively. As a result he got title of Tan Sri and Dato’. Besides, he also awarded the task of building the site for 2100MW coal fired power station at Tanjung Bin after SKS Ventures are 100% owned by Tan Sri Syed Mokhtar and Zainal Hatim.IN rice trading business, he awarded the rice trading license from Lembaga Hasil Padi Negara. Also granted successions of supplier contract government-linked corporation as partner with Zainal Hatim.

3.4  Team Oriented

A good entrepreneur can create a peaceful atmosphere among the co-workers in order to achieve the organization’s goals. It also will lead in increasing of business productivity because the employee will always motivate and no pressure when complete the tasks. In 1996, Tan Sri Syed Mokhtar Al-Bukhary established Al Bukhary Foundation. At earlier stage, the foundation focus on Malaysia by providing numerous programs that aimed in eradicating poverty and fostering racial harmony. The example of the programmes are, Albukhary Scholarship Programme, Albukhary Tuition Programme, Hajj Pilgrimage Programme, Khidmat Van Jenazah Albhukary Care, Rohingya Education Centre, and The Read Programme. Then, the businesses had grew day by day until he established presence in the international arena. Hence the charity work developed. The foundation contributes most of it fund in education about RM 633,157,312 followed by RM 421,381,837 in Welfare and Social Department, RM 287,177,518 in Cultural Programme, RM 196,797,189 in Religion, RM 58,555,170 in International Programme and RM 35,407,445 in Sports.

3.5  Proactive

Tan Sri Syed Mokhtar Al Bukhary is a proactive person. It can be prove when he started a business of selling cattle and buffalo at the age of 19 years. At this stage of age, hard to find a person that have a positive and a foresighted thinking. But, he managed to involve himself in a business. To be story about the beginning of his business, there is an unease in his father’s cattle business. Those cattle are affected by outbreak of food-and-mouth which caused almost all of the livestock perished. So, he decided to take over his father’s business but he change the focus from cattle business into selling meat business. He bought the meat from the vendors around Alor Setar and resold them to the bumiputera traders. His proactive action got positive feedback from the public and also motivated him to expand the business. Two year later, 1972, he jumped into transportation business. In this business, he started with acquiring a license for four Class A lorry and made RM110, 000 loan from Majlis Amanah Rakyat (MARA) to buy two Mercedes Benz lorry. After that, he managed to set up a transportation company, Syarikat Pengangkutan Sentosa.

Another of his famous foresight, he invested in three major investment vehicle which are Malaysian Mining Corporation (MMC) Berhad, DRB-Hicom Berhad and Tradewinds Group. All of three investments brought different opportunities for him. Through MMC Berhad, he got a significant stake in the scope of energy and utilities, infrastructures and engineering and construction sectors. While in the DRB Hicom Berhad, he abled to widen the business into five segments which are automotive, manufacturing, finance, hospitality and integrated property development industries. He also expand his business in agriculture sector by invested in Tradewinds Group.

CONCLUSION

As conclusion, entrepreneurs are those who innovate, willing to take risks and generate new ideas to create solutions for future problems. They are also able to help the organization has matured and established new organizations in taking chances. Entrepreneur also is a catalyst for development and economic growth of a country. Forward and backward economy of a country is dependent on a dynamic entrepreneur and visionary. They are a unique individual and different from ordinary human. Entrepreneurial traits that exist in individual entrepreneurs not only able to develop their own self-entrepreneurs, but also responsible for the development of society and the state. We can conclude that the success entrepreneur should have all this nine traits in their business, with this traits, they can improve their business to make sure that their business always growth and reach the global market.