Traits of An Entreprenuers

Initiative

By definition a searchable via the website bing.com initiative meant business or individual effort to access and start doing things with self-reliance. In addition, the initiative also brings meaning to the power of opportunity to act or take charge before others do. Meaning of the word initiative also carry, inventiveness and other else.

He has a lot  of Institutions and he contribute and supports initiatives which aims to promote and sophistication level of Saudi society through the publication of the legal culture and this institution supported conscious initiative and The aim of conscious initiative, which launched its program through the Forum business women Chamber of Commerce in Riyadh recently to publish the legal culture in society in general and targeted legal education for women in particular, through educational lectures and pillars of free legal advice provided by specialists of both sexes in all legal areas of concern to women in various areas, both on a practical or personal level.

Al waleed bin Talal is a contributing effectively in various fields of national and hide his eagerness to everyone in the provision of housing for every poor family, also provides assistance to the needy, and he does his important role in participating in the support of the nation, representing businessmen generous. The entrepreneurial Alwaleed supports peace around the world through his charitable and humanitarian organizations .

Donations Highness Prince Alwaleed Bin Talal Foundation include more than 80 countries from Afghanistan to Japan, and from Gaza to the Gambia, has reached over 30 years ago more than 10 billion riyals (0.23 billion US dollars) have been spent through his charities and humanity to make the world a better place. Has established his three charities with the slogan  "Commitment Without Boundaries": Alwaleed Bin Talal Foundation - Saudi Arabia, and Alwaleed Bin Talal Humanitarian - Lebanon, and Alwaleed Bin Talal Foundation - Global (registered in Lebanon). Institutions operating locally and across the Middle East region and globally to fight poverty, unemployment and spreading the culture of inter-religious dialogue and civilizations as well as women and youth support.And here I will talk about is “Global Humanitarian Foundation” which is also chaired by His  Highness Prince Alwaleed the world to eradicate poverty and ensure rapid and effective relief to poor countries affected by natural disasters and to provide training, education and employment for women and young people in the Middle East opportunities by supporting the development and humanitarian projects in partnership with specialized organizations in its field.

The Foundation also established centers and supporting studies and forums that encourage dialogue and rapprochement between the different religions in the world, and contribute to the preservation of literary heritage and Islamic art museums in the world.He focused on bridging the gap between communities and societies and religions; another division focuses on female empowerment in Saudi Arabia; another on alleviating poverty and educating people in our country and our region; and another assists those countries that face catastrophes or natural disasters such as the tsunami in Japan. He believes in networking, because today business, economics, and finance are intertwined with politics. So in business, you have to be in politics and economics as well, especially in our part of the world.

Perceptiveness

         He is the central figure behind the Kingdom Holding Company, one of the largest international holding companies successful in the world, he was choosen twice by Forbes magazine as one of the most intelligent and creative investors in the world, Alwaleed bin Talal is one of the places the agenda for the operations of Kingdom Holding Company in the world, and provides the guiding vision that has seen remarkable success and global recognition, he got numerous awards and accolades from esteemed organizations and associations, and the kings and heads of state in the world.and he always look forward and try to start before everyone,and In 1979, Prince Alwaleed bin Talal decided to establish his own company, Kingdom Foundation for Trading & Contracting, a company which, in 1996, to become the Kingdom Holding Company.

          After completing his first major dealings, Prince Alwaleed chose to invest profits in the real estate sector in the Saudi capital Riyadh, and this was a wise decision, in many ways, it has proved to be the foundation upon which the Kingdom Holding Company today, In the early nineties of years, it was almost impossible to think that the Saudi royal family can strongly appears on the global investment banking arena, but in 1991, this is exactly what happened. A great coup that puts Alwaleed in the global spotlight event, when invested heavily in shares of Citibank (subsequently, Citigroup) in a bold move that surprised many. But, surprise quickly turned to admiration and he gets his banking giant regained full health, it returned to its position as a leading global financial institution. Investment has yielded Prince Alwaleed bin Talal, Citigroup an extraordinary level of revenue, and represents the largest proportion of Prince Alwaleed personal wealth.

Time Competence

In managing the financial and administrative matters, Adelson more closely and act more decisively in making the decision. This is because indirectly will result in future returns .In short period Adelson has done a variety of businesses including the construction of The Venetian, a casino resort at Bethelem, Pennsylvania. Later, when he wanted to invest in Macao, China Adelson know that investment in the early stages of the 265 million just in one year because he has 69% of the stock and increase the wealth when he took stock and put on the public in 2004.

With speed and discretion available to him made him wise in time and steal Wealth with period not too long and not too short. Every decision he outline the most risky and he wisely making any investment and loans for increasing profits each already invested. thought out and move forward causing her to compete in the whole country and opened a branch business in each country.

Especially, They challenge themselves to learn more and do more. They understand that all businesses are affected by certain internal and external factors, some of which are out of their control or beyond their abilities. They understand these limitations, and either build their own capacity so that they can get what they need, or work with people with different expertise and experience in order to overcome these barriers.

“Like success, failure is many things to many people. With positive mental attitude, failure is a learning experience, a rung on the ladder, and a plateau at which to get your thoughts in order to prepare to try again.” – W. Clement Stone

“Excuses cost a dime and that’s why the poor can afford a lot of it.” – Robert Kiyosaki

Ethical consciousness

If recent history teaches us anything is that ethics and character, especially in business. Big organizations like Enron, Arthur Andersen and Health South have been destroyed and others were seriously damaged by executives with huge gold and intelligence but no moral understand.  In today’s extreme competitive, high tech, interdependent business world, charisma without conscience and cleverness without character are a recipe for economic and personal failure of epic proportions. 

“To educate the mind without the morals is to educate a menace to society.” --Theodore Roosevelt.

Competitiveness, ambition and innovation will always be important to success but they must be regulated by core ethical principles.

Let’s start with a basic definition, ethical principles are universal standards of right and wrong prescribing the kind of behavior an ethical or person should and should not engage in. These principles provide a guide to making decisions but they also establish the criteria by which your decisions will be judged by others.

In business, how people judge your character is critical to supportable success because it is the foundation of trust and believability. Both of these essential assets can be destroyed by actions which are or are perceived to be unethical. So, successful executives must be concerned with both their character and their credit. 

Abraham Lincoln described character as the tree and credit as the shadow. Your character is what you really are, your credit is what people think of you. So, your credit is purely a function of perceptions. While your character is determined and defined by your actions.

Promise-keeping. Keep promises and fulfill responsibility. Ethical executives can be trusted because they make every reasonable effort to fulfill the letter and spirit of their promises and responsibility. They do not interpret agreements in an unreasonably technical or legalistic style in order to explain non-compliance or create justifications for leaving their responsibility.

Fairness. Strive to be fair and just in all dealings. Ethical executives are basically committed to fairness.  They do not operation power arbitrarily nor do they use overreaching or indecent means to gain or maintain any advantage nor take undue advantage of another’s mistakes or difficulties. Ethical executives clear a responsibility to justice, the equal treatment of individuals, liberality for and acceptance of diversity. They are open-minded, willing to admit they are wrong and where appropriate, they change their positions and beliefs.

Caring. explain compassion and a true concern for the well-being of others. Ethical executives are caring, compassionate, generous and kind. They understand the concept of stakeholders and they always consider the business, financial and emotional effect of their actions on all stakeholders. Ethical executives seek to accomplish their business objectives in a style that causes the least harm and the greatest positive good.

Respect for others. Treat everyone with respect. Ethical executives explain respect for the human dignity, autonomy, privacy, rights, and interests of all those who have a stake in their decisions, they are polite and treat all people with equal respect and dignity regardless of sex, race or national origin. Ethical executives keep to the Golden Rule, striving to treat others the way they would like to be treated.

Law abiding. Obey the law. Ethical executives comply with laws, rules and regulations relating to their business activities.

Commitment  to excellence. Pursue excellence all the time in all things. Ethical executives pursue excellence in performing their duties, are well-informed and prepared, and constantly try to increase their proficiency in all areas of responsibility.

Decisive

       

       The word “Entrepreneur” that must be consists of traits such as decisive, resolute, courage, initiative, perceptiveness, and bravery and so on. One of important character traits for entrepreneurial success is to be decisive. Entrepreneurs live in constant motion and unending flurry of action, its needs to make a decision in order to collect all the facts and carefully to be decision making. An entrepreneur have to makes decision making requires selection from total alternatives and entrepreneurs with their analytical ability evaluate the alternatives and come out with the best one decision in a given situation.

          

          An Entrepreneur needs to be decisive person who shows the ability to make strength of a decision quickly but effectively then have the ability to act. When an Entrepreneur spends too long time to make a decision even though that entrepreneur lack of knowledge or fear to making the wrong one, it creates a period of worry in the employees. It’s a matter of trusting your instincts, and understanding that you can be fall but you can always recover and correct it.

           

         Entrepreneurs have to make the best decision to get the perfect result, but that you’ll never have sufficient information and enough time to make the perfect decision. Thus, the best decision is to do the best you can given currently data from at that time and just move. This can show that you can always adjust and solve the emergency situation as you go and have confidence from employees that you try and make decision, better than do nothing.

        

         To being decisive, does not mean that being a stubborn or arrogant but it is the ability to make decisions with speed and clarity. In any situation, the ability to make decisions is important. William Hewlett and David Packard are good example of entrepreneur who decisiveness. What makes the lives of the two men and their companies different from the others is that Hewlett and Packard, often with excellent business decision and they know how to make a decision. The secret of their success is that choosing the right things to do in a right time.

        

    As a conclusion, entrepreneur needs to be decisive person who shows the ability to make strength of a decision quickly but effectively. The greatest success comes to that entrepreneur who is not afraid to fail and ready to learn from that mistake to improve their company. The experience will make an entrepreneur be a right decisive. Therefore, the decisive is the important characteristic of Entrepreneur. Without a decision no progress can be made.

Foresight

            

           A process that will lead to success in the business, certainly the most important thing is to have an entrepreneur who fully of efficient because the business has come a long process that was effective and to be a good entrepreneur must have the aptitude to lead the organization towards to be success in business. To become a creative entrepreneur, one should have foresight characteristic within him or her. This shows him or her, a way to achieve success. 

          

         Foresight "means you will do anything that need to see forward, and have ability to see what will happen in the future. That because the foresight will be successful in the business of making in a long-term. People who just see for a narrow, it would have been successful in the short term but it is not stable and finally you will be fail. However, you have to look ahead and see what might happen in the future.

         

           The entrepreneurs have a good foresight to know about business environment in the future. They well imagine the probable changes to take place in market, consumer attitude, technological developments etc. and take timely actions accordingly. The beginning of business, an entrepreneur should start with a systematic process and preparing in advance to prevent or avoid mistakes as much as possible with good future planning and good foresight how to handle the problem effectively. There are uncertainly for entrepreneur to visualize the likely changes in the future but the change is a crucial opportunity to business. The new things may take place during this period. If we know how to handle them, that can change the problems to be a new business opportunity.

        

           Jon Erik Prichard is the best example for entrepreneur who have foresight trail. Jon Erik Prichard is a high technology entrepreneur. He realized as wireless technology with speech and hand writing recognition software would result in a truly mobile computer and easily to communicate. People can use this computer, anytime, anywhere, without annoying to hook up a modem or cable network. Prichard introduced his Qbe Personal Computing Tablet. It requires no keyboard, no wires and no mouse. Almost people do not believe and thought he was insane but in fact, there are many future technologies Prichard count ever will exist. Prichard believed in his ideas and believed that his product would be perfect for the market once it was ready.

       

          This can be saying that, an entrepreneur should have ability to predict for the future and belief in their own idea. The greatest success comes to that entrepreneur who is looking foresight; for example create a new thing that people think impossible but you can make it become true and so on. Thus, foresight is a process that will lead to success in the business.

Versatility

            

          Jimmy Choo is a Malaysian born fashion designer whose handmade shoe designs earned him fame and success early in his career. Born into a family of shoemakers, Choo got his start in fashion design early and worked with shoes throughout his schooling and formative years. Shortly after his graduation from a London technical college he was designing, hand crafting and selling his own shoes and gaining international attention with his unique and detailed work. Many celebrity customers in his early career, including the glamorous Princess Diana of Wales, helped transform his growing popularity into worldwide notoriety. After the success of his handmade shoes made him a household name in the fashion industry, he worked together with an editor of British 'Vogue' magazine to cofound his own company, ‘Jimmy Choo Ltd’, which became a major worldwide fashion label, within a few short years. He sold his controlling stake in the company, but still remains involved in the design work for the haute couture section of the business, leaving the running of the successful ready to wear and accessory lines to his business partner Tamara Mellon of 'Vogue'. Today Choo's name remains synonymous with high fashion and self-made success, especially in his native country of Malaysia.

           From a small workshop to a premier brand, Jimmy's journey as a shoemaker has earned him not only name and fame but also a lot of awards. His work were admired and he has been credited globally for his art of designing. In the year 2000 he was bestowed a state award carrying the title of Dato' by the Sultan of Pahang state in Malaysia for his achievements. In the year 2002 he was conferred an OBE by Queen Elizabeth II in recognition of his services to the shoe and fashion industry in the UK. In the year 2004 Choo was awarded the Darjah Setia Pangkuan Negeri by the Yang di-Pertua Negeri (Governor) of his home state of Penang, which also carries the title Dato'. He has also been awarded a fellowship by the University of the Arts London, conferring the use of the title Professor.

Choo is currently involved in the planning, development and creation of a shoemaking educational institute in his homeland Malaysia. Today, the designer has returned to the roots of his craftsmanship at a shop in London where he produces hand-made shoes and the site acts as the headquarters for the brand’s fashion design line. For him, education is a key to success in life and along with manufacturing shoes, he also teaches people how to craft deluxe footwear. He became the spokesman for British Council in an attempt to reach out to international students and he also became footwear education ambassador at London College of Fashion.

Integrity

             Tan Sri Syed Mokhtar Albukhary, is well known as as a “Philanthropist Millionaire”. Born in 1951 in Alor Setar, Kedah, from a family of Hadhramawt, Yemen origin, Tan Sri Syed Mokhtar and his seven siblings had a very simple life when they were young. Due to hardship in life, he only managed attend school until Form Five in order to give way to his other siblings to further their studies.

            A unique fact, which can actually be viewed as his first direct involvement in business, is ‎that he used to help his father with his business’ accounting. This took place during ‎recession period, when his father went to his school and ask him to go through his ‎accounting book and take care of it. This valuable experience is one of the solid ‎foundations Syed Mokhtar acquired before he involved in the real world of ‎business. ‎

In the mid 1970s, his father’s cattle business ran into trouble following the outbreak of ‎foot-and-mouth disease. The outbreak spread throughout southern Thailand, Kedah and ‎Perlis. As a result, nearly all their livestock perished. However, this downturn in event actually had a silver lining. Since then, Syed Mokhtar ‎took over his father’s business and decided never again to become involved in the cattle ‎business. Instead, he decided to go into the business of selling meat. As a start, at the age of 19, Syed Mokhtar scoured markets around Alor Setar to buy ‎unsold meat from the vendors there. The meat would then be re-sold to bumiputera ‎traders in the surrounding area. ‎

This Malaysian tycoon has expanded his business empire at a bigger scale by owning a controlling interest in giant companies in Malaysia such as MMC Corporation Berhad, Tanjung Pelepas Port, BERNAS, Malakoff Berhad, Johor Port Berhad, to name a few. Known as a generous figure with a remarkable humanity, he set up the Islamic Art Museum, Al-Bukhary Foundation, Al-Bukhary International University as well as Al-Bukhary Complex. Besides that, he was also responsible in the renovations of the National Mosque and sponsors the less fortunate Malaysians to perform their Hajj. More recent, this millionaire with a big heart has built several mosques in some districts in Negeri Sembilan, apart from Alor Setar, Senai Airport, Johor and also at Jalan Pudu.

When we know the ways to be a better leader, it will develop your leadership skills. There are a few ways to ensure a person to grow and develop as a better leader. The first one is learn from the experience. The experience that we face can be good or bad. It is important to learn from the past experience because I will become more careful on doing things. The experience that I get from doing things is very precious. It is because the experience that will get is not the same like reading a theory in the book.