Common Traits of Entreprenuers Around the World

Before the assignment start, we need to clearly know about the objective of this assignment is to understand the importance of the enhancement of entrepreneurial skills and personal qualities. This assignment will come out with the supportive evidence by list out the successful entrepreneurs in Malaysia and the world.

James Adams, an online supplier of Canon cartridges and also a tech writer. His review product, Canon CLI-521. He mentioned that the successful businessman have common traits. Firstly, we can realise that they disciplined in daily life. Secondly, they have confident due to the knowledge can help their businesses to be succeed. The entrepreneurs are always a self-starter since they should start it themselves if something want to be done. Next, they are competitive and followed by creativity.

Determination can be seen on successful entrepreneurs because they never believe that something cannot be done. They have well communication skills to promote their product and as a leader to encourage their employees. Besides, they have strong work ethic. They do everything related to their work no matter in the workplace or not. Passion also known that an entrepreneur love their work, therefore they are willing to work for extra hours until the business become successful. An successful entrepreneurs wish to go further once they observe it (Adams).

In this assignment, we have 2 sections need to complete. In section 1, we are required to explain relevant entrepreneurial traits which are visionary, networked, open risk taker, observant, open culture, failure is an option, team oriented, outcome oriented and proactive and analyse through application on successful entrepreneurs. In section 2, we need to brief about a successful entrepreneur with supportive examples that how he perform any five of ten entrepreneurial traits that we mentioned just now.

Networked

Mark Zuckerberg
 

Networked is one of the entrepreneurial traits that is strongly required and practiced for the entrepreneurs to run the business. It is the process of developing and maintaining connections with people. For this entrepreneur trait, we have selected Mark Zuckerberg, the founder of Facebook in the business perspective as the representative of networked entrepreneur.

Zuckerberg began his networked trait during the time when he created computer games for kids with a bunch of friends who are artists to draw for the game. (Wikimedia Foundation, Inc., 2016). While Mark Zuckerberg is studying in Harvard University, with his friends’ help, Mark has started operation of Facebook in his hostel room. Zuckerberg’s friends then promoted Facebook to other universities and Facebook users increased dramatically since then. (Wikimedia Foundation, Inc., 2016) From this, we can see that Mark Zuckerberg always makes use of the personal network he has to build his business.

In 2004, Zuckerberg and his team moved to California and hooking up with PayPal co-founder, Peter Thiel, who later invested in the company. With the investment from this well-built business network, they acquired their first office in 2004. (Entrepreneur Media, Inc. , 2008)

In April 2009, Zuckerberg listened to the financing strategies by former Netscape Chief Financial Officer, Peter Currie. In an interview of Zuckerberg, he mentioned about the advise from Steve Jobs towards creating an executive team that is "as high quality and good things as you are". We can conclude that Zuckerberg has always tried to manage his business network to gain more experience about other factors affecting an organization performance. (Wikimedia Foundation, Inc., 2016) Business leaders cannot run a company all by themselves; they need to make use of their network, either investors, management team or partnerships. Great leaders need partnering with the right people in to achieve success. (Walter, 2014)

Open Risk Taker

Warren Buffett

 

Being an open risk taker is another important entrepreneur trait. Most successful entrepreneurs work hard through planning and preparations to minimize the risk involved and take a calculated risk. For this entrepreneur trait, we have selected Warren Edward Buffett who is well-known as the investor with highest accomplishment in the world. Buffett is now 86 years old, but he is able to maintain his position as the chairman, CEO and largest shareholder of Berkshire Hathaway. (Wikimedia Foundation, Inc. , 2006)

According to Warren Buffett, “The basic ideas of investing are to look at stocks as business, use the market's fluctuations to your advantage, and seek a margin of safety. That is what Ben Graham, the Father of Value Investing taught us. A hundred years from now they will still be the cornerstones of investing.” (Wikimedia Foundation, Inc. , 2016) From this, we can see that Buffett is an entrepreneur applying the definition of risk in his investment career.

Buffett always looks further than the intrinsic value of an investment and concentrates on management of the company and the capability inhibiting by the  product in the marketplace. (Smith) Buffett and partners bought Berkshire Hathaway, a textile mill which had not make any profit for a long period. They operated the mill and used the gain from the textile business to be funds for other investments. “Opportunity comes along with risk” which is foreseen by Buffett and the risk is taken to giving a chance in succeed later.

In 1987, Berkshire Hathaway acquired a 12% ownership in Salomon Inc. After a scandal involving the CEO of Salomon Brothers, the CEO left the company and Buffett became Chairman until the crisis passed. Although Salomon Inc. is in difficulties and this may risk Berkshire Hathaway, Buffett is taking the risk to continue owning Salomon, and finally the risk becomes his accumulated wealth. (Wikimedia Foundation, Inc. , 2016)

In 2002, Buffett put in US$11 billion in assisting U.S. dollars against other currencies. By April 2006, his net profit from this investment was more than US$2 billion. In 2009, Burlington Northern Santa Fe Corp. has been purchased by Buffett to extend on new business area instead of only concentrating in financial industry. (Smith) Although Buffett is a risk taker, as an entrepreneur, he diversified his investment to minimize the risk.

Observant

 

Tan Sri Lim Goh Tong
Source: lifeofchina.lofter.com

Observant entrepreneurs are able to observe the problems, the needs or even the want consumers have at the moment, they manage to realize the consumers’ desire by initiating business while making profit for themselves. (Friel, 2014).

It is found on the late Tan Sri Lim Goh Tong, the founder of Genting Highlands Resort. Lim was initially working on a hydro-electric power project which is mostly patronised by the British colonials seeking cool refuge from the land of tropical heat in Malaysia. The idea of building resort on the hill was firmly conceived during his visit to Cameron Highlands. Lim was having his dinner and the cool breeze he enjoyed struck him as the standard of living that should have in Malaysia. His realised that there are high on demand that people visiting mountain resorts for vacation to enjoy the cool breeze at the hilltop. It was certainly a great business potential to build a mountain resort that is nearer to Kuala Lumpur as there is a significant driving distances from Kuala Lumpur to Cameron Highlands. Since then, Lim searched for the suitable location at Kuala Lumpur’s vicinity to build hilltop resort. He found Gunung Ulu Kali of 1,800 metre which is just 58 kilometre from Kuala Lumpur. A series of expedition and exploration at Gunung Ulu Kali including a collection of wealth date of topography, drainage and soil conditions were constructed in developing the plans for building the resorts. (Lim Goh Tong, 2016)

 Although there were numerous adverse occurrence throughout the project, Lim was proved by his action in transforming remote mountain into a holiday resort at last ,which was first thought to be impossible and risky by the people around him. Lim spend all he had on the project by selling rubber state and from the investment income of iron-mining, sub-contracting and hardware business, his friends rejected his favour to invest in the project at the same time. He began the construction with his team once being approved by the Federal and State government, the whole project was completed within seven year. Since the opening of first hotel in 1971 namely Highlands Hotel, Genting Highlands Resort continued to grow from strength to strength. (Genting, 2015)

 

The earlier look of Genting Highlands Holiday Resorts in the 70s
Source: skyscrapercity.com

 

To date, Genting Group is a diversified one ranging from the initial resort activities and hotels to plantation, power generation as well as oil and gas exploration and production. In conclusion, being observant is the key to be a successful entrepreneur.

Visionary

Jack Ma

Visionary refer to whom can envision the future. In extension, a visionary can also be a person with distinctive and have specify their vision of the future.

When mentioned about visionary, I linked it to Jack Ma. He not only is the founder of Alibaba Group Holding Limited but also the executive chairman of the group. Alibaba Group Holding Limited is a Chinese based e-commerce company, mainly are consumer-to-consumer business(portal Taobao, similar to eBay.com), business-to-consumer and business-to-business sales services. (Wikimedia Foundation, Inc, 2016).

In 1994, Ma heard about the Internet. He never written a line of code and never do sales to the customer before this and the first time he start to acquire computer at the age of 33. Start from year 1995, he went to the United States and with his friends', during that time, he got know about Internet. He search the word “beer" but find none information from China but many other countries have a lot of information related to the word “beer”. He and his friend decided to set up an "ugly" website which related to China. He had received emails within five hours after he set up the website from ethnic Chinese say that wishing to know about him. At the same time, Ma found that the Internet able to offer something excellently (Wikimedia Foundation, Inc, 2016).

Jack Ma’s successful formula stated that be a visionary not a technocrat. The executive coach, Jeremy Kourdi said in The New Economy Video that Jack Ma is a man of great vision. He impressed with the story of him met up 18 people of his friends and sharing about his vision for two hours. His vision was flowing out of him for two hours and finally he able to start Alibaba group with the money (The New Economy, 2015).

 

Failure is an Option

Thomas Alva Edision

 

In this era of globalization, many entrepreneurs have faced mistakes or failure when they invent something new and make business. Those who are willing to learn will eventually become successful after mistakes and failures lead them to make some improvements.

 

Thomas Edision (1847-1931) was an American businessman besides being the famous inventor for light bulb. He designed many devices which greatly affect the life around the world especially the practical light bulbs which bring light to the people in this world. (Wikipedia, 2016)

Thomas Edision faced many challenges and obstacles when he first worked on the invention of a practical light bulb. He and few of his teams faced failed experiments for several times. For instance, they faced the number of negative laboratory tests for almost up to 50,000 times and a minimum of 700 times. This eventually caused a visitor to the lab who conveyed his feelings of pity to Thomas Edision about the number of times of the failed experiments and results (Williams, 2012). Thomas Edision then responded to him by quoting "I have not failed, I've just found ten thousand ways that won't work." Although he faced with these failures, he never gave up and continued with different creations of the light bulbs which eventually bring a large impacts and different to our everyday lives (Congress).  
 

In a nutshell, the failures or mistakes did not stop Thomas Edison from searching for new chances to start inventing and exploring ways to invent the new light bulb. He improves from the mistakes and failures when encountered with challenges and obstacles and never give up trying other ways to succeed. Finally, he succeeded in inventing the light bulbs after going through many ups and downs.

Open Culture

Larry Page and Sergey Brin

 

Open culture is defined as a concept where the development of ideas or knowledges should be free from any restrictions and on also on the basis of collaboration and sharing among people. (Open Culture, 2010). It is founded on the working environment in Google company. Founded by Larry Page and Sergey Brin during their PhD studies, it is an American multinational technology company specializing services and products related to the Internet. They practise open culture in their working environment since the start-ups. The employee (Googlers) are all hands-on contributors to feel comfortable in sharing ideas and opinions. Moreover, the offices and cafes are specially created in encouraging Googlers’ interaction across the teams and departments. It is expected that they would spark conversation about either work or play. (Our Culture, 2009)

Meanwhile, there is a weekly all-hands meeting on Fridays called TGIF where Googlers review news and products launches from the past week and a Question and Answer (Q&A) session with the founders.  Larry Page and Sergey Brin are default to open upon the concept that the Googlers are their greatest asset. This allows Googlers to believe that they are trustworthy adults and have good judgement that promotes them to do their jobs more effectively as well as contribute in the ways that beyond the top-down managers’ expectation. (Passion, Not Perks, 2011)

The Google culture of transparency accesses Googlers to nearly every Google’s code to view the goals and objectives of each Googler. Exposing more information to employees lead them to be more context which helps in high performance. In addition, to prevent backstabbing issue among the Googlers, whoever makes complain via email would be added to the email thread, instead, they are asked to have direct conversations with colleagues to solve the conflict. (D'Onfro, 2015)

 

The so-called Truck Pit, one of the four cafeterias in Google’s East Coast headquarters.

A snapshot of Google Engineering Headquarters in Zurich.

 

 

 

Outcome Oriented

Steve Jobs

 

Outcome oriented or result oriented is used to describe a person or an  organization that only focuses on result rather than how does the process is going to run on produce the product or deliver services.

A successful entrepreneur who has this characteristic was Steve Jobs. Steve Jobs was a genius American successful entrepreneur, marketer, and inventor. He also was the co-founder, chairman, and CEO of Apple Inc. Sunil Maheshwari (2014) said that Steve Jobs drew a two-by-two grid after some weeks of product review sessions in 1997. At the top of two columns, he wrote “Consumer” and “Professional”. He labelled the two rows as “Desktop” and “Portable.” Steve Jobs only told his team members, this is their job and only focus on this four great products - one for each quadrant. The rest should be abandoned.

But, by getting Apple to focus on making just four computers, he saved the company. “Deciding what not to do is as important as deciding what to do,” he believed. (Sunil Maheshwari, 2014) But in the end, for something this complicated, it's really hard to design products by focus groups. A lot of times, people don't know what they want until you show it to them, said by Steven Job (1998).  Mui (2011), he also mentioned in Forbes that Steve Jobs had told his team, never ask customers what they want because they never know what they want. Steve Jobs and his team find out what they want without direct ask them. Steve Jobs believe the products are the best result to let customers know what they want. Therefore, they kept on inventing creative and innovative products. “Stay Hunger, Stay Foolish”, said by Steve Job (2005). He meant to his team, never be satisfied and always push yourself and do the things that peoples say cannot be done or impossible. In 2007, I-Phone first generation was successful introduce to market. Steve Jobs was die on 5 Oct 2011, but his spirit also being remembered by everyone of his team.

 

Team Oriented

Chad Hurley, Steve Chen and Jawed Karim.

           
           Team oriented means we think of others in making decisions and not just only ourselves. This is because everyone supplies in the functions or conditions that concern on their businesses. A team involves with a group of people who work towards the same targets in order to achieve their success.
 
           YouTube is a video-sharing website located in San Bruno, California, United States which was invented by three ex-PayPal employees in February 2005. It was created and introduced by Steve Chen together with Chad Hurley and Jawed Karim as his co-creators. The founders sold their creations of YouTube for about 1.65 billions dollars to Google which caused them to be millionaires after that.
 
           Steve Chen from Taiwan was born in 1978 and at the age of 15, he migrated to the United States. He Studied at University of Illinois and become one of the employee at PayPal after graduated. During that time, he met with his co-founders and co-inventors of YouTube who are Chad Hurley and Jawed Karim (Editors, 2016). Being employees at PayPal, Hurley designed the company's trademark logo. The creativity and inventiveness of YouTube came from Jawed Karim with the halftime faux pas committed by Janet Jackson with her breast was exposed not in purpose and Justin Timberlake.

            They teamed up to create YouTube as a place for the public to enjoy and share the videos to the worldwide with the presence of the Internet. Besides, public can watch and uploads their video on www.YouTube.com which allows YouTube videos to be places on non-YouTube pages. The three inventors and founders work together to think of the name "YouTube.com" which started its operation on 15 February 2005 and the website was elaborated for the following few months. Before making its official debut, the three of them has offered the public for a view of the site in May, 2005 (Bellis, 2005).

            In conclusion, users are unable to use the YouTube websites if these three founders and inventors did  not create it. Hence, with the invention of this website, users are able to view and upload videos from time to time. Eventually, YouTube has become part of their entertainment during leisure time too. 

Proactive

Business Dictionary (n.d.) explains proactive is about actions and results are behavior-oriented, instead of others are waiting things happen then they only try to react to it. It also explains that proactive behavior aims at identification and exploitation of opportunities and in taking pre-emptory action against potential problems and threats, whereas reactive behavior focuses on fighting a fire or solving a problem after it occurs.

Bill Gates is founder of the world largest computer software, Microsoft. Bill Gates is a proactive entrepreneur. He realizes smartphone market is become bigger. Smartphones nowadays are multifunctional. It not only can make call, be music player, take note etc. It also can browse website now as long as it connected with internet or wireless fidelity (WIFI). Peoples prefer to browse internet with smartphone compare with computer or laptop. He foreseen the trend of elimination of computer world in the future. He starts to take action that how to survive Microsoft in the future. So in 25 April 2014, Microsoft completed to takeover Nokia.

According to Microsoft (2014), Windows Phone is the fastest to grow in the smartphone market compared to Andoid Operating System (OS) and Iphone Operating System (IOS), and its portfolio of award-winning devices continues to expand. In the fourth quarter of 2013, International Data Corporation, IDC (2013) said that the Nokia mobile phone business, Microsoft will target the affordable mobile devices market, a $50 billion annual opportunity, delivering the first mobile experience to the next billion people while introducing Microsoft services to new customers around the world. Bill Gates believes that Window Phone will be lead the smartphone market in the future. Meanwhile, peoples hesitate investment of Microsoft on Window Phone is a correct or wrong strategy since OS and IOS are leading the smartphone market nowadays.

Conclusion

In a nutshell, the enhancement of entrepreneurial skills and personal qualities is important to create a successful entrepreneur. Throughout this assignment, we get to know more about the successful entrepreneurs in Malaysia and the world. It proved that not only the entrepreneurs in the world can success but in Malaysia also have Tan Sri Dato Seri Lim Goh Tong and Tan Sri Anthony Francis "Tony" Fernandes.

There is a question among the student which entrepreneur formed by made or born? There was a debate formed at Barclays Bank in London and most of the speakers agreed that an entrepreneur was more made than born. Jamal Edwards(founder of SB.TV, an online youth-oriented broadcaster) said that there is matter of nature versus nurture. He agreed that an entrepreneur was 5 percent born with their abilities and 95 percent made by life experiences (Dawson, 2014).

 

Task (b) has proven that an entrepreneur have more than one trait can lead the entrepreneur become more successful in a short period of time. Tan Sri Anthony Francis "Tony" Fernandes, the founder of AirAsia airline is the number 28 on the Forbes list of Malaysia's Richest due to his net worth at $650 million (Wikimedia Foundation, Inc, 2016).

As employees that are going for work in the company, they are taught that weaknesses are bad and that they should be improved. As entrepreneurs, they are focusing on weaknesses as futile and they draw on their strengths. There are many different ways in which can apply these mind-sets to become successful at whatever we choose to do with our career (Chan, 2016).

Tan Sri Tony Fernandes: A visionary entreprenuer

           

Tan Sri Tony Fernandes
Source: asianentrepreneur.org

         One of the traits that an entreprenuer must have is visionary. The meaning of visionary is thinking about or planning the future with imagination or wisdom. To be more precise, a person with visionary trait has the power to predict how a society, industry or country will become in the future. This trait can be seen in Tan Sri Tony Fernades where he has an imaginative ideas and long-range experience for his several companies. When he was a child, he has dreamt of three wonderful things which are operating an airline, owning an English football and Formula One racing team.
         
           Tony Fernandes' vision has turned AirAsia to be one of the famous and well-recognised airlines brands in the world. Many observers are proud of the success of AirAsia all thanks to the responsibility and strong leadership of Tony Fernandes. Back to the time in 2011, Tony Fernandes met up with our fourth Prime Minister. Tun Dr, Mahatir Mohamad. At that time, Dr. Mahatir Mohamad has persuaded Tony Fernandes to buy over a previous airline, AirAsia which was in high debt/

              Thus, Tony Fernandes bought AirAsia at a lowest price of 25 pence in September 2001 by mortgaging his house and spent all his long savings to get hold of the company and transfigure it into an industry player(Channel). Tony Fernandes took over AirAsia in 2001 and during that time, the airline had only two planes and millions of debt. Year 2001 appeared to be a hard time to join the airline industry but Tony Fernandes, CEO of AirAsia insisted on doing so and has risked all he can to reintroduce an aging and indebted airline that he has bought for only 25 pence.

               Apart from this, Tony Fernandes did not have any existing experience in the industry but still he has joined with other teams together to buy over the airline even though he has to mortgaged his house. He made a dream when he was sleeping in his office at Kuala Lumpur's airport of re-introducing AirAsia as a successful budget airline(Suisse). As a result, the AirAsia company had doubled from only two planes to a fleet of 86 planes in order to fly 30 million of people from one destination to another around the world. Tony Fernandes did a great job when he planned to develop the low cost airline on 11 September 2001 as he thought that it will be awesome to be able to help those poort families to travel around the world. This enables them to save on their money and time.

                The implementation and introduction of the low cost airline is only one of the successes that Tony Fernandes manged to gain. Till now, AirAsia has become one of the famous and well-recognised budget airlines in the world (Business, 2010). This example has shown us that Tony Fernandes has managed to achieve his dreams with his visionary trait although he faced with a heavily debt's business in the beginning and able to re-launch AirAsia into a profitable airlines.

                   By looking at Fernandes's achievements of running an airline, this shows that he has visionary trait where each of every entreprenuer should have and has achieved awards for the award of 'Visionaries & Leadership Series' for his fantastic work in AirAsia ( Wikipedia, 2016). Moreover, he also dates to dream big when he was only three years old. Like what Fernandes has quoted, "believe the unbelievable, dream the impossible and don't take no for an answer'.

Tan Sri Tony Fernandes: An open culture Airasia corporate environment

          The success of being the world’s leading low-cost airline is not only the fruitful effort from Tan Sri Tony Fernandes and his team, but also the working culture Tony stemmed ever since he started to run AirAsia airlines. He stresses over openness, innovation and a never-say-die attitude, thus, he practises open culture in the working environment.

In the physical working places of AirAsia, the management department do their work on a huge stage in an open space office with only few physical barriers between desks. Moreover, in the reception area, there is a flight attendant team where the chief pilots deserve for a corner desk monitoring the operation team. It is a sign of respecting the pilots are part of the team where they have their own physical space in the company even though their main responsibility is flying the plane. Although Tony is the CEO of AirAsia, that does not make him much different on his working space. His office is set up at the heart of the company with no walls or doors surrounded. Tony sees his team members in the office and so do them. The cafeteria is also another feature to be mentioned where it is set up for every single people in the team including trainee, captain and ground handling staff. This is to expose them to have interaction with each other regardless of working position. (Ghandour, 2012)      

A snapshot of AirAsia Headquarter at Sepang District, Malaysia.

Source: business.inquirer.net

            Tony encourages the employee to use their first name on the name cards with no titles at all. Instead of conforming to preconceived concept on the duty of cabin crew, Tony pushes them to develop their own personality. He looks every employee valuable in running the operation. Anyone inside or outside the corporate either, can walk up to Tony even just for a high-five or providing their opinion or suggestion or maybe just grumble about football. This makes Tony to be open and easily involved on every issue the employee or even the consumers discuss about in order to keep innovating in the industry. The informal culture helps in keeping the internal operating cost down since AirAsia is a low-cost carrier. (Govindasamy, 2009)

There is no such hierarchy in the corporate as well as the commitment to job flexibility, its culture and management style reflect Tony Fernandes’s personality as informal, friendly and cheerful. He uses his personal style in creating a unique identity for Air Asia. It is also evident based on his usual dressing with a coordinate of jeans, open-neck shirt and the signature Air Asia red coloured base-ball cap, visible even during working hour in the company. It is ultimately to provide clear and precise interaction under Air Asia’s unstuffy and open culture. (Grant, 2015)

Photo shows are the look of Tony’s office in Malaysia.

Source: business.inquirer.net

Tan Sri Tony Fernandes: An observant entreprenuer

Tony Fernandes has the trait of observant because he use less than 1 dollar to purchase of a bankrupt company and start his airline empire. He are the “vanguard” of the low-cost air travel. AirAsia start operate in January 2002 from 2 planes that from a bankrupt company  to more than 180 of national airlines. Anyway, Fernandes not only focus on airfare but also start a hotel chain and offers car rental (Ng, 2014).

AirAsia can be the internet company, he said. The traditional distribution channels are expensive, therefore the tickets sell through websites will bring down their costs. AirAsia are trying to sell ancillary goods and services which are not included airfare. For example, checked-in baggage(not handcarry), preferred seating, in-flight meals, WiFi, rental car bookings through airasia main website, hotel through airasiago website and redemption of miles through airasiabig website(Balea, 2015). He said: “We expect ancillary income, such as from these additional online services, to contribute to our bottomline.” (TTG Asia Media Pte Ltd, 2005).

AIRASIA has partnership with the car rental business named GoCar, in a partnership with Asian Rent-A-Car which is a subsidiary of Scomi Group. It offered at Kuala Lumpur International Airport, Senai International Airport, Penang and Kuantan. The rates of car rental start at RM30 (US$8) per day (TTG Asia Media Pte Ltd, 2005).

            Air Asia has cooperated with many hotels around Asia Country and create an icon of “flight+hotel” on Air Asia official website to allow their customer which to made hotel booking. This system help the travellers to save time because they can reserve for the hotel accommodation after they book a flight but also can book a hotel without make any flight reservation In Air Asia official website which have icons “flight+hotel” and “hotel”, both will direct proceed to AirAsiaGo webpage. Hotel that booked through the website have the lowest price guarantee.

Tan Sri Tony Fernandes: Failure is an option

           Apart from this, Tony Fernandes has the traits of failure is an option. This can be seen in 2011, Tony Fernandes who the successful Malaysia airline entrepreneur in Malaysia is the new majority owner of Queens Park Rangers Football Club having bought the whole of Bernie Ecclestone's 66% stake in the club for around £35m. Conn David (2011) mentioned that, Tony wishes to be involved in football and create a football club and turn it from raw diamond into diamond. Queen Park Ranger (QPR) is the best raw diamond. He wants the fans to be proud of what they're doing and be involved as much as they can.

Queens Park Rangers Football Club (QPR) is a one of the famous English football club in White City, London that play in The Championship or it also called as the second tier of English football. QPR achieved in winning the League Cup in 1967 and being runners-up in the old First Division in 1975–76. Besides, they were reaching the final of the FA Cup in 1982, where they lost 1–0 to Tottenham Hotspur in a replay after they drew 1–1 in the initial final match.

During Tony became the majority owner of QPR, QPR was in English Premier League (EPL) season 2011-2012. QPR was playing their fifth season in EPL, and they success finished the season in 17^th place which compete with other football clubs. If they are lower than 17^th place, they will be delegation to the Championship. In EPL season 2012-2013, QPR unfortunately delegated to The Championship after drawing with Reading Football Club. Starting from season 2013-2014 until now, QPR still not able to promote to EPL. Although QPR is still not getting promote to EPL, Tony still believes that one day QPR will be success to get the champion.

Tan Sri Tony Fernandes: An open risk taker

There is a myth that entrepreneurs are risk taking investors. It should be clarified that entrepreneurs take calculated risk which is affordable by themselves and the organizations or business. Tan Sri Dr. Anthony Francis Fernandes has the entrepreneur trait as an open risk taker. Being a successful entrepreneur, he has initiated the Tune Group of companies by purchasing  AirAsia on 2 December 2001. Tune Group is a leisure and entertainment corporation having a mission to provide affordable leisure, initially in Asian markets. The group is now mainly trading on  airways, hotel and telecommunication services. (About Us)

Ever since the rising of technology usage in daily life, telecommunication industry is having a keen competition among service providers. Tony Fernandes is taking a high risk to enter the industry with Tune Talk, playing the role of Mobile Virtual Network Operator (MVNO). (Tune Talk Sdn. Bhd. )

Tune Talk is meeting an ever increasing demand for affordable yet high-quality telecommunication service. To provide high quality service, Tune Talk cooperates with premier telecommunication provider, Celcom (Malaysia) Berhad by signing an agreement enabling Tune Talk to ride on the extensive network of Celcom and reduce the cost of building and maintaining cellular network. (Tune Group, 2016) From this agreement, we can see how Tony Fernandes take the risk for Tune Talk to continue compete in the market.

The telecommunication industry has been penetrated by several main network providers; they are Maxis, Digi, Celcom, Hotlink and others. To compete with these experienced providers, Tune Talk needs to introduce more affordable and attractive promotion packages with more benefit for subscribers at a lower cost. Tony Fernandes has made use of the benefits to be provided by Tune Group to attract more consumers to subscribe to Tune Talk, such as AirAsia Traveller plan which provide roaming service for overseas travellers and collect AirAsia Big Points with Tune Talk subscriptions and top up. (Tune Talk Sdn. Bhd. )

Beside reducing operating cost and concentrate on developing great promotion packages to subscribers, Tune Talk also tried to employ efficient web-based technologies to better serve their customers. Although entering the telecommunication industry is a high risk act but Tony Fernandes has been a good example of open risk taker entrepreneur that takes the risk for better development in telecommunication industry.