Tan Sri Syed Mokhtar Al-Bukhary
Friday, 14 October 2016 05:35 | Written by your name 0 comments
Syed Mokhtar Al-Bukhary was born in Alor Setar,
Kedah in 1951 at middle class family. His family hailed from Hadhramaut,
Yemen. Before deciding to live in Kedah, his father traveled as far as Central
Asia to trade. Then, his father went to Thailand, before finally deciding to
live in Alor Setar, Kedah in the mid 1940’s. This business leader has seven
siblings and he is the third child. Shortage of money led his family to send
him to live with his uncle, Syed Omar in Johor Bahru, to study there. Syed
Mokhtar lived in Johor Bharu and continued his studies there until form two,
before returning to Kedah to study up to form five at Saint Micheal’s School. His success story in business began by helping his parents in cattle
business around 1960-an. However, this did not last long due to the outbreak of
disease which hit their livestock. Hence, Tan Sri Syed Mokhtar took other
initiative by applying for MARA’s assistance to start a lorry business in the
1970s. The lorry company which is known as “Syarikat Kenderaan
Sentosa” now owns more than 40 lorries.
Know as a man with a vision, his efforts did not
stop at that point. In 1974, Tan Sri Syed Mokhtar bought his first shop house
under the hire-purchase agreement with Urban Development Authority of Malaysia
(UDA).
The next year, he expanded his business empire
by establishing Shah Company, known as a rice supplier to FELDA, MARA Senama,
Pernas Edar and Sergam Sdn Bhd after having succeeded in obtaining the rice
trading license from Lembaga Padi Negara or BERNAS. Tan Sri Syed Mokhtar
described his achievement in business was the outcome of government’s
initiative in implementing the New Economy Policy (NEP).
Since then, Tan Sri Syed Mokhtar’s business
continued to expand rapidly until he was awarded as one of the richest
Bumiputera corporate figure in Malaysia, received recognition from Malaysian
Business as the seventh richest man in Malaysia in 2005 and recently named as
the fiftieth richest man by Forbes in 2013.
Tan Sri Dato’ Seri
Syed Mokhtar Albukhary is one of Malaysia’s most recognised and successful
business figures. With a large and heavily-diversified business portfolio, he
brings exceptional knowledge, experience and foresight in managing diverse
business environments. Tan Sri Syed Mokhtar’s breakthrough into mainstream
corporate activities came in the 1990’s, with controlling interests in several
public-listed companies including Johore Tenggara Oil Palm Berhad and Johor
Port Berhad. As a prominent corporate figure in Malaysia, with an estimated net
worth valued at US$2.5 billion according to Forbes, Tan Sri Syed Mokhtar
manages the core of his multi-billion dollar empire via a well-diversified
portfolio, driven primarily through three investment vehicle companies - MMC
Corporation Berhad, DRB-Hicom Berhad and Tradewinds (M) Berhad. Tan Sri Syed
Mokhtar tried to look from another point of view and cause great idea. MMC
Corporation Berhad’s primary businesses lie within three sub-divisions: energy
and utilities, airports, ports and infrastructure, and engineering and
construction. MMC is the largest shareholder of Gas Malaysia Berhad, and also manages
the operations of Port of Tanjung Pelepas (Malaysia's largest container
terminal). Its engineering and construction division has established itself as
a leading player in the industry with several key developments including the
innovative Stormwater Management and Road Tunnel (SMART) motorway, the
first-of-its-kind, dual purpose tunnel in the world.
How This Assits Them to be Successful In Their Venture.
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1. Open risk taker
Risk taker
can be defined as individual or business that tend to act in a way that can
cause physical harm or financial loss, but it also might turn out to be
profitable or rewarding. A good entrepreneur must have risk taking trait in
himself, someone who afraid to take a risky move in his business won’t be able
to develop his company or business into something more profitable. In a
business an entrepreneur will have to face a lot of decision making that will
forced the decision maker to make a risky move in order to save the business or
to make the company growth toward another level. Risk taking is really
necessary move in business if the company want to become more profitable than
it already is. Risk taking move can push a business toward its limit and be at
full potential rather than playing safe and have a fix business income.
2. Visionary
Visionary
can be define as having or showing clear ideas what going to happen in the
future. Visionary characteristic will be very useful for an entrepreneur to
predict what community will need in the future. Through this prediction an
entrepreneur can satisfy the need of community in the future and make profit
from it. Visionary skill also can help an entrepreneur to have a proper
planning for its own business in the future and make a right decision. Through
proper planning and right decision making, an entrepreneur can avoid from
making any unnecessary expenditure and at the same time making profitable
expenditure from the right decision making.
3. Observant
An observant
can be define as good at watching and listening or noticing everything that
going on around you. Through observant characteristic an entrepreneur can learn
something about business by observing it’s competitor, customer, and other
else. A good entrepreneur will use this observant skill to improve his business
by applying everything that he learn from observing everything that going
around him. Therefore, his business will become more competent and profitable
after improvement have been made.
4. Proactive
Controlling
a situation by making things happen or by preparing for possible future problem
can be define as proactive. Proactive person will initiate something to happen
rather than wait for something to happen. Proactive entrepreneur will always try
to search for a new product or services that are innovative and useful for a
community. Proactive characteristic surely will help an entrepreneur to explore
a new market for a new product or services and becoming the pioneer or
dominator company for that product or services market.
5. Failure is an option
Failure
is something that everyone want to avoid especially for an entrepreneur because
failure in business means a loss which will affected the company and the
entrepreneur itself. Failure actually is a learning process, through failure an
entrepreneur can learn the mistake that been made causing the failure and try
to not repeat it again. After knowing the mistake an entrepreneur can take
correction step and fix the mistake to improve business performance. Failure in
business is a common thing and will happen frequently even for a successful
company. Therefore, from failure an entrepreneur can improve its own business
and gaining an experience for the company and its own self benefit.
Entrepreneur characteristics in Tan Sri Syed Mokhtar Al-Bukhary
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1.
Failure is an option
Tan
Sri Syed Mokhtar had experienced a business failure when livestock undergo
bankruptcy. Nevertheless, he continued to rise by trying other businesses. His
failure and learn a lesson and experience for his future. After that, he was
successful in business. This success adds his enthusiasm and confidence to
develop themselves in the business world. In addition, Bukhari Shipping also
suffered losses. This led him to incur losses US400,000 dollars.
Based
on the situation on the above, it is clear that Tan Sri Syed Mokhtar also
experienced a failure in business. However, the spirit of Tan Sri to strive to
fruition today. Past failures is a catalyst for success in the future.
2.
Observant
Tan
Sri Syed Mokhtar has been watching and appreciating science practiced by his
father's business. This was because he had watched his father dealing with
suppliers of cattle and buffaloes from Thailand. This allows him to learn a
little bit of business processes. Tan Sri also wise in choosing the underlying
business sector. This is because, he wisely observes expanded needs at a
specific time. At first, he was involved with necessities such as rice and
sugar. Later, he was involved with shipping, in line with current needs.
Therefore,
he is a smart businessman in observing and evaluating the pros and cons of an
action. Observation is very important to get good ideas in business.
3.
Proactive
Tan
Sri Syed Mokhtar Tan Sri Syed Mokhtar al-Bukhari is a proactive. This is because,
he managed to find opportunities that exist in the business environment. In
addition, he was also careful in doing business. He has many personal
characteristics and superior should be emulated by all parties. He is always
looking for any business opportunities that exist and will try to tap into
those opportunities. For example, he has entered into various sectors, where it
has nothing to do with each other. He had entered the food industry,
manufacturing, shipping and more. Therefore, he continues to be proactive in
going into business. Successful entrepreneurs are entrepreneurs who are always
proactive in every action taken.
4)
Visionary
Tan
Sri Syed Mokhtar al-Bukhary has a vision to improve the living standards of
their families. Patience and perseverance through various obstacles to become
the main reason for his success. He is also a man with a vision. This is
because, he is willing to donate his wealth to the poor and religious. Tan Sri
Syed Mokhtar always look forward. Tan Sri Syed Mokhtar's vision is to help
others by using his own wealth. Therefore, he must work hard to ensure that the
vision is achieved. In Islam, his good deeds will be rewarded in the afterlife.
Thus, he contributed a lot for charity purposes.
Therefore,
Tan Sri has set up Yayasan al-Bukhary to help the poor, especially in the field
of education. Until now, Yayasan al-Bukhary has spent more than RM300 million
for religious, cultural and educational. Among the major projects undertaken
are the construction of complex al-Bukhary costing RM400 million in Kedah. The
complex plays an important role by providing facilities such as mosques,
orphanages, and others.
Therefore, clearly show that Tan Sri Mokhtar
Al Bukhary a figure with the foresight to realizing his vision. He has helped
to increase the welfare and development of Islam in Malaysia.
5.
Open risk taker
Tan Sri Syed Mokhtar
Al-Bukhari took a risk when he dabbled in business. He was courageous to
initiate steps in the business such as rice, sugar and others. He said to take
the risk because he did not have a lot of knowledge about the underlying
business sector. With the daring nature to bear the risk, the underlying
business. He has successfully diversified its business without relying on the
sale of the business only.
2.9 PROACTIVE
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Being
proactive means, “creating or controlling a situation by causing something to
happen rather than responding to it after it has happened”. This is a vital
skill in the entrepreneur world.
Proactive
is also one of the entrepreneurial traits that must needed and applied to
operate the business by the entrepreneurs. Proactive can define as a more
aggressive and acting in advance of a future situation, rather than just
reacting. It means taking control and making things happen rather than just
adjusting to a situation or waiting for something to happen. Proactive
entrepreneur generally do not need to be asked to act, nor do they require
detailed instructions. Proactive behaviour can be contrasted with other
work-related behaviours, such as proficiency or adaptability.
Tan Sri Robert Kuok Hock Nien
One
of the entrepreneurs that shown proactive characteristics is Tan Sri Robert
Kuok Hock Nien. He is proactive entrepreneurs. He started a new business or a
business that has not been taken up by other entrepreneurs in Malaysia. Tan Sri
Robert Kuok famous for his initiative in which he was the first person involved
in the sugar business in Malaysia. From that, we know that he is one of the
proactive entrepreneurs in Malaysia. He said he took the initiative to start a
business trading in the sugar business since sugar is very important in the
food sector. In 1968, he expanded his business to the sugar trade in sugar
production. He starts a sugarcane plantation and started a joint venture with
the government. After that, he established Perlis Plantations Bhd (PPB) and
Perlis state government to clear 5,800 hectares of land for planting sugarcane
FELDA owned.
Finally,
he had mastered 80% of the Malaysian sugar market same as production of 1.5
million tonnes of sugar which is equivalent to 10% of world sugar trade. Now,
10% of the sugar in the world is owned by him. In short, the initiatives of the
sugar business to business give him the opportunity to build a business empire,
and thus dubbed the "Sugar King of Asia". With proactive
characteristics that have, now Tan Sri Robet Kuok Hock Nien became a successful
entrepreneurs in Malaysia.
2.8 TEAM ORIENTED
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Team
is a group of people organized to work together or joined in order to do
something together. While team oriented is known as team-mate, team spirit and
team teaching. The most important is the team must consist of group of people
who shared the same goals and dare to take a risk by working together to
achieve goals. On the other hand, they have to be able to work as an essential
part of team.
The
entrepreneur carrying out the responsibilities and tasks together and work
together to achieve the goals you want to achieve. Team Oriented may allow each
individual in the group complete the task properly and efficiently where they
involve knowledge, skills, and discussions with each other, share ideas, mutual
trust and its efforts to achieve the objectives while improving employee
performance. Team Oriented focus on common goals and work together to enable
every individual in the team has a chance to contribute their own ideas.
The
characteristic that must have in team oriented is someone must have tendency
and pleasure to work in team and putting team’s best interest as priority
instead of own individual pursuits. For example, you just do not think about
yourself but include others in your decision. Everyone has a contribution factor
in operation and decisions that concern the venture. No one is more superior
and everybody has an equal say without any repercussion which is unintended
consequence that occur after event especially the unwelcome one.
Someone
has to be positive with team members and maintain open communication and an
open mind when requesting feedback from the team. One should request feedback
from the team so that we can recognize and use individual strength of team
members. On the other hand, we should also accept shared responsibility and
ownership of projects.
Larry Page
Take
for example, Larry Page is one of the entrepreneur that works with team
oriented. Larry is an American computer scientist and successful internet
entrepreneur. He is also a co-founder of Google Incorporation with Sergey Bin.
Living in a background as his father was a computer science professor at
Michigan State University and his mother was an instructor in computer
programming at Lumann Briggs College at Michigan State University making his
childhood was usually a mess with computers, science magazine all over the
place.
The
biggest achievement of Larry Page began when he started research project with
Sergey Bin in September 1998. By year of 2000, Google search engine attracted a
loyal following among the growing number of internet users. Until now, Google
has grown 40,000 employees worldwide. This management team represent that Larry
Page knows how to make the team co-operate and become oriented.
Larry
Page focuses on allowing employees to pay attention to their crazy ideas and
cultivate the best of them. He also says that his employees should follow the
qualities such as empower your team and don’t micromanage, have a clear vision
and strategy for the team and uses the participating leadership style and
laissez-faire management style which giving much freedom to his employees so
they can make the most out of their creativity.
Larry
wants his team to feel that they’re having a meaningful impact and are contributing
to the good of the society. This shows that Larry Page wants the team to become
oriented.
Another
example that related to the team oriented traits is Datuk Hisham Bin Ismail is
a specialist holistic Malaysian entrepreneurs. He practiced various industries
which include food, beverage, cosmetic and alternative medicine. He
manufactures and produces a wide range of products for contract manufacturing
to SMEs throughout Malaysia. He believes that a successful entrepreneur must be
viable and beneficial to the community through partnerships and collaboration
within a team and to discuss with other entrepreneurs.
2.7 OUTCOMES ORIENTED
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According to Webster’s Dictionary, an outcome is “something that follows as a result
or consequence.” The term “outcome,” then, emphasizes something which is the
result of particular conditions or actions. Outcomes are not always positive or
desired. Sometimes our actions lead to outcomes that are neither wanted nor
intended.
Entrepreneurs
who are tend to be an outcome oriented people will have the mind-set that ask
how they can achieve something, what they could do now to get there, how does
getting the results feel and so on. If you think outcome oriented, you tend to
see at the end in your mind and you are looking for the fastest way to go
there. No matter how good the process, at the end of the day, the final results
is what people looking for and that is the proof that we have done well. An
entrepreneur should run their business by expecting good results. Actually,
process oriented is as important as outcome oriented. To become an excellent
entrepreneur, we must be able to define how much profits or revenue that we can
gain through our investment, whether it is highly demand and how you can
survive. If entrepreneurs cannot define it, there will be more risk in the
future or even worse they had to shut down their businesses.
An outcome-oriented approach really shines when we move away
from a project-centric funding model. In projects executed with
outcome-oriented teams, the teams don’t live as long as the outcome is relevant
to the business. They are disbanded at the end of the project which means we
lose sight of the outcome until another release in the same area is funded with
another team. This also leads to a problem of instability of management and
reporting structure.
A outcome oriented entrepreneur analyses productivity of
employees based on the number of tasks that he completes in a specified period
and the quality of products or services rendered by him. Entrepreneur are at
liberty to utilize personalized processes in an effort to achieve set targets
at the business. The primary goal of a result-oriented individual or
organization is to meet objectives and realize positive growth.
Varun Manian
Example
of entrepreneur that is suitable to be related with outcome oriented is Varun
Manian which is one of the youngest and most successful entrepreneur in India.
He is the Managing Director of Radiance Realty and Radiance Media Group all of
which are a part of the Radiance Group of Companies. Furthermore, Varun Manian
entered the residential real estate business with the inception of Radiance
Realty Developers India Limited. Radiance Realty, is a property development
firm based in Chennai and it focuses on building luxury residential projects.
After 2012, he never looked back and continued to add feathers to his cap on
the property development front. During this journey he set up Radiance Facility
force, Radiance Home Solutions and Radiance Total Care. This shows that he have
outcome oriented which he had achieve a lot of excellent result on his business.
Bill Gates
One
of a very successful and also a very well-known entrepreneur is none other than
Bill Gates. He owns an assets which is worth 79.2 billion USD and as we all
know that the source of his wealth is from the Microsoft. He is an investor,
inventor, philanthropist, computer programmer and American business magnate. He
is a very good example of the outcome oriented entrepreneur. This is because he
said that he prefer to hire a lazy person to do the hard job as the person will
find an easy way to do it. This shows that he cares more about the outcome
rather than the process itself. Other than that, he is a drop out student from
Harvard University, but he shows that even though that he has been kick out
from university, he still manage to become the richest person in the world.
After all, the results is what matters most. He is a very good example of the outcome
oriented entrepreneur. This is because he said that he prefer to hire a lazy
person to do the hard job as the person will find an easy way to do it. This
shows that he cares more about the outcome rather than the process itself.
Other than that, he is a drop out student from Harvard University, but he shows
that even though that he has been kick out from university, he still manage to
become the richest person in the world. After all, the results is what matters
most.
2.6 OPEN CULTURE
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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.
For every entrepreneur should have open culture
trait. Open Culture'' can be consider as a concept according to the 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.
Chris Hirst
Chris Hirst which is the one of the open culture
entrepreneur in the world. He is the
chief executive of ad agency Grey London. Chris Hirst has shown how the agency
built a culture with an "Open" philosophy by his efforts.
Grey London has been doubled in size to over 300
people and become one of the most talked about agencies in London since under
his appointment to the agency 3 years ago. He is graduate in Harvard Business
School from Oxford University with a MEng. With his transformation into the
exciting, successful creative business talent, he established Grey London as
one of the UK’s most sought compare after advertising agencies, creating famous
campaigns in leading brands.
“Not just being different, but being better. Not
better in the abstract or in a corporate sense, but better for them as
individuals.” said by Chris Hirst which are he used to identify their
stakeholders and make sure they see the result of their change programme. This
make their personal association with a winning team, the potential career
development and their client who
commissions a breakthrough piece of creative, make Grey London as a successful
company.
As an open culture entrepreneur, Chris Hirst
dedicated to creating the best possible business culture and environment at
Grey London and attracting the very best talent from all backgrounds. Chris
Hirst bringing with them a new perspective and therefore, opening up new possibilities
just because he believe the culture is alive and transformational.
Vivy Yusof
Vivy Yusof is the example of entrepreneur who has
this trait. She is not just entrepreneur but she also a celebrity and icon for
majority young women in Malaysia. She is the co - founder of e-commerce
website, FashionValet.com. FashionValet.com is the one of the popular
e-commerce fashion website in Malaysia. It started with RM100,00 of capital
from her and her husband’s saving and launched in November 2010 which has only
10 brands. That moment, it was the first multi-label online site in Malaysia.
Now, it be one of Asia’s leading multi label online sites carrying Asian
designer labels, and The dUCk Group, a lifestyle brand of headscarves and
stationery which has over 400 brands.
Another reason why they take risk in this
opportunity is because they frustrated at the lack of online shopping options
available to Malaysians. They had to driving around and being stuck in traffic
jam and crowded parking lots. Both of
them was studied in United Kingdom (UK) where online consumerism was a part of
daily life. Just click a button even for groceries. They enjoyed the
convenience of shopping online and it soon take over the way them
conventionally shopped. After they graduating university and returned to
Malaysia, they realised that e-commerce was non-existent at home back in 2010.
Another reason that make give them ideas and strengthen to created online site
is when they had talked with local
designers and realised they were having challenges in reaching out to the
masses and developing a solid customer base. So, they created FashionValet.com
to push Malaysia towards expanding its consumer habits but also to promote
local designer and their immense talent. They made cooperation with many of
designers not just local designer but almost country in Asia.
Now, Vivy Yusof is one of successful entrepreneur and she sharing her
experiences to all Malaysian on his own television programme, Love Vivy.
