2.2 OPEN RISK-TAKER
Friday, 14 October 2016 03:51 | Written by your name 0 comments
Open
risk taker is one of the entrepreneurial traits that must needed and applied to
operate the business by the entrepreneurs. Open risk taker can define as
someone who brave to take risks loss or injury in the hope of gain or
excitement. Open risk taker also can define as an individual or business that
tends to behave in a way that can potentially cause physical harm or financial
loss, but might also present an opportunity for a rewarding outcome. Successful
entrepreneurs are always putting themselves in a position where the risk exists
and requires the strength to deal with the risks that would coming.
Henry Ford
As
being an entrepreneur would make them have to go through many risks now and
then. Every business will have to face risks. As an example of entrepreneur is
Henry Ford. Henry Ford was born on July 30, 1863 in Greenfield Township,
Michigan, United States. Henry Ford was an American industrialist, the founder
of Ford Motor Company and the sponsor of the development of the assembly line
technique of mass production.
Henry
Ford takes risk by working on automobiles itself in 1896 because at that time
there were many other working on automobiles with gas powered engines. It was
really competitive that many new companies would be gone by the day. Besides,
to manufacture automobiles in the late 1890s required a massive amount of
capital. It is quite a big risk to be taken since there is no certainty the
production will success with that tremendous amount of capital.
In
addition, Henry Ford wanted to find the people that can believe him and can be
trusted by him. Henry Ford had designed a prototype and then keep trying to
refine the design. But the thing is it was taking very long so that Murphy and
the stockholders were getting restless and not believing him. The board of
directors dissolved the company in 1901 because they lost faith in Henry Ford.
After
that, Henry Ford found an ideal partner, Alexander Malcomson. Like Henry Ford,
he is also a risk taker so he agreed to support through financial and not to
meddle in the manufacturing process. After the assembly plant ready, Henry Ford
get a team of workers to make 15 cars a day. After a lot of hardship, he could
produce his own car from the inside out. And now he is a well-known entrepreneur
in the world.
In
conclusion, to be a great entrepreneur there is a must to take a few risks. If
Henry Ford did not take the risks, he might be unknown to the world.
Furthermore, there are also many others entrepreneurs to be set as example other
than Henry Ford that brave to take risks in order to become a great
entrepreneur.
Tan Sri Dato' Sri Dr. Anthony Francis Fernandes
One
of the entrepreneurs that shown open risk taker characteristics is Tan Sri Dato’ Sri Dr Anthony
Francis Fernandes, also known as Tony Fernandes. He was the Chief Executive
Officer(CEO) of Air Asia and founder of Tune Group. He take risk and made a decision to buy the loss-making Air
Asia. Tony Fernandes initially bought over Air Asia from DRB-Hicom in 2001
with the price only RM1 but Air Asia
have debt about RM40 million and have two ageing Boieng planes. He set
the vision of Air Asia is "To become the largest low cost airline in Asia
and serving the three billion people who are often charged high fares.” No have
anyone willing to take risk, but Tony Fernandes even went as far as to mortgage
his house and use up most of his personal savings to sustain and grow Air Asia.
At that time, nobody understand what he thinking by doing all these things and
most of the people simply think that he was hysterical. But finally, because of
his brave to take risk, now he became a successful entrepreneur and became a
Millionaire in Malaysia.
