economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not
necessarily motivated by profit but regard it as a standard for measuring
achievement or success.
Entrepreneurship can be defined as the activity of setting up a
business, and taking on financial risks
in hope of making profit. An entrepreneur is an individual who operates and
organizes a business by taking higher risk than normal and taking benefit from
the opportunities. They seek business opportunities by identifying what is
needed, wanted and desired by the consumers. Entrepreneur should be innovative and creative by create some
value-added products or services, take risks in investing money and make the
products available to customers. Entrepreneur essential to create superior
quality products which not only meet but also exceed customer satisfaction.
Customer need to satisfied with our products. In return, we can gain profit and
also success in our business.
In short, entrepreneur
are the prime movers of economic progress, they play a key role in any economy.
Commonly entrepreneur seen as an innovator, a person who introduce new ideas,
methods, goods and services. They help to improve standard of living lifestyle
and quality of life of the people. Entrepreneur commonly face many obstacles
when building their companies, like financial, human resources, material
resources and others.
As entrepreneur, they
need to sacrifice and spend their time on work and try to work hard to achieve
aspired objectives. They also need to have an ability to take the risk and to accept
failure. They need to be aware of something change, smart thinking and take a
quick action in the perfect timing. They must able to accept failure in doing
their business as economy ever change and we cannot directly know what is going
to happen in the future, we just can forecast it.
Tan Sri Dato’ Seri Vincent Tan Chee Yioun is an
entrepreneur in Malaysia that I had chosen to discuss in this assignment. He is
a legendary entrepreneur who starts selling hamburgers and builds his business
empire. Tan Sri Vincent Tan currently is the Chairman of Berjaya Group, owner
of Cardiff City Football Club, owner of FK Sarajevo and owner of Belgian
football club, Koninklijke Voetbalclub Kortrijk. He is grew up from the poor
family and this background has motivated him to start his legendary story. He
has the skills and competencies of ability to learn from mistakes, versatility,
foresight, ethical consciousness and time competence. In 1997 financial crisis,
when he started the project of building Berjaya Times Square in Kuala Lumpur he
was encountered a challenge. But he used his skills and ability to overcome all
the problems that he faces.
He is a famous
philanthropist too as he helped the less fortunate people through monetary
donations and other material support. His generosity had been improved
lifestyle of the millions of people lives. Tan Sri Vincent Tan is smart and
brave to face any difficulties or setbacks, for example he has been venturing
in many countries apart from Malaysia. His attitude make him become so
successful today and known by everyone around the world.
He is also the
self-made entrepreneur who run the Berjaya Group and become so popular and known
by people around the world. Even though Tan Sri Vincent Tan without advantage
of higher education, but he has proven that nothing is impossible in this land
of opportunity. Tan Sri Vincent Tan was a person that create miracle in the