UNIVERSITI UTARA MALAYSIA

SEMESTER PERTAMA SESI 2015/2016

FIRST SEMESTER SESSION 2015/2016

SADE1013

ASAS KEUSAHAWANAN /

INTRODUCTION TO ENTREPRENEURSHIP

TUGASAN KUMPULAN

GROUP ASSIGNMENT

                                                                 

CONTENTS 

DESCRIPTION	PAGES
INTRODUCTION	1
TASK 1 – SECTION A	2-11
TASK 1 – SECTION B	12-20
CONCLUSION	21
REFERENCES	I-IV
APPENDIX II	V
APPENDIX III	VI-VIII
APPENDIX IV	IX
APPENDIX V	X

INTRODUCTION

An entrepreneur defined as someone who starts their own business, especially when this involves seeing a new opportunity. (Cambridge Dictionaries Online, 2015) An entrepreneur is also a decision maker, decides what, how, and how much of a good or service will be produced.

An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.

According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. (What is an entrepreneur, 2015)

Successful entrepreneurs must have their own entrepreneur skills and personal characteristics in order to run their businesses.

The objective of this assignment is to provide an understanding and importance of the enhancement of entrepreneurial skills and personal qualities with supportive evidence by linking to successful entrepreneurs in Malaysia and the world. In addition, this assignment identify and analyse embodied entrepreneurial skill by entrepreneurs.

In the Section A of this assignment, we will identify and describe the entrepreneurial traits that highly needed and applied to operate the business by the entrepreneurs with different examples of different entrepreneurs. These entrepreneurial traits are networked, open risk taker, observant, visionary, failure is an option, open culture, outcome oriented, team oriented and proactive.

In the Section B of this assignment, we will identify one successful entrepreneur and explain how he or she demonstrates any five entrepreneurial traits that highlighted in the Section A and how this assists them to be successful in their venture.

TASK 1: SECTION A

1.0 NETWORKED

According to Cambridge Dictionaries Online, ‘Network’ means to meet people who might be useful to know, especially in your job career. (Cambridge Dictionaries Online, 2015) Networked is known as, “Developed and used contacts found in business for purposes beyond the reason for the initial contact.” (Anastasia, 2015)

Business Networking is an effective and useful low-cost method of marketing used to develop sales opportunities and new contacts in the business world through connecting in the mind with other individuals who share similar ideas and opinions. Business networking normally involves a face-to-face at a meeting and gathering at any time and any place. Besides, it includes other contact methods like phone, email, and increasingly social and business networking websites. (Anastasia, 2015)

Many businesses use networking as a main factor in their marketing plan. It helps to establish a strong feeling of trust between those involved and put reliance on each other to play a big part in raising the profile and revenue of a company. Suppliers and businesses can be considered as networked businesses, and will tend to source the business and their suppliers through their existing connections and those of the companies they deal closely with.

One of the entrepreneurs who builds a networked business is Jeff Bezos. He is the founder a company called Amazon.com. He is the current chief executive officer of the company. (Jeff Bezos Biography, 2015) What is Amazon.com? Amazon.com is a giant of online retailer based in the United States.

Bezos started his business as an online bookstore, but he diversified Amazon’s offering with the CDs, video, apparel, electronics, toys, furniture, food, jewellery and more through major retail partnerships. (Jeff Bezos Biography, 2015) For example, his company had partnerships with several merchants such as DC Comics for the exclusive digital rights to many popular comics. (Streitfeld, 2011)

Besides, in partnership with United States Postal Service to begin shipping orders on Sundays started in urban areas of Los Angeles and New York. This decision enables the company shortens the delivery time for the high volume shipments and improve the customer satisfaction. (Alistair Barr, Donna Leinwand Leger, 2013)

By building perfect business networks and maintaining good relationships with suppliers, merchants and other partners, the founder leads Amazon.com to a whole new level when it outpaces Walmart in 2015 to become the largest and most valuable e-commerce retailer in the United States. (Li, 2015)

2.0 OPEN RISK TAKER

‘Risk’ defined as the possibility of something bad happening at some time in the future (Cambridge Dictionaries Online, 2015) while ‘open risk taker’ means a person willing to do things that involve risks like physical harms or financial loss in order to achieve his or her goals. (What is risk taker, 2015) The risks of business refers to the possibility of poor profits or losses due to some unpredictable factors such as the changes in tastes and preferences of consumers, government policy and fierce competition.

Well planning and financial management can assist an entrepreneur to identify the risks such as strategic risk, financial risk, operational risk, compliance risk and reputation risk. (Griffin, 2015) Open risk takers take calculated risk when they need to make decisions for the business. They look for information and expertise to evaluate if it is worth pursuing the chance which is usually risky. They are able to act on incomplete information and make judgments when incomplete information is sufficient for action. The practice of effective information management using information to determine the probability that their plans will be successful.

Tan Sri Dato Seri (Dr.) Lim Goh Tong was a Malaysian Chinese entrepreneur who well known for his vision and courage in changing Genting Highlands from desolate highlands into the one and only casino resorts in Malaysia. He was an open risk taker in developing the Genting Resort. He had an idea to develop a highland resort when he was enjoying his dinner in Cameron Highlands.

Firstly, he started collecting data and information on the geographical structure, drainage, soil conditions and other related aspects. He found that Genting Sempah is the most ideal location to build a highland resort. The data and information are very useful in preparing the plans for developing the resort. Although it was a risky and reckoned project, he invested all his money into it. Finally, he managed to finish the project with his calculated risk management. (Lim Goh Tong, 2015)

3.0 OBSERVANT

Observant means someone who is good or quick at noticing things. (Cambridge Dictionaries Online, 2015) Observant entrepreneurs are always looking for the next great idea by paying attention to what’s happening, not only right around them, but also around the world. They usually observe potential opportunities long before others. (Strock, 2015)

Entrepreneurs should be observant of their surroundings as it is the way to unleash their inner creativity. When they ask questions each time, the creative juices start flowing. After they verify the solution in the pre-existing market, they should know well about its respective industry. Knowing its history and observing trends facilitates their solution remains relevant. (Barnhouse, 2015)

One example of observant entrepreneur is Lei Jun. He is the co-founder of the fast-growing mobile phone manufacturer Xiaomi and also known as the Steve Jobs of China. He co-founded the company with his friend, Lin Bin in 2010.

Lei Jun observed that the prices of the flagship mobile phones in the market are too expensive, which beyond the purchasing power of the people in developing countries. He came out an idea to make phones with high power of rivals at a much lower price. (Price, 2015)

The company has gained reputation and growing up fast in its homeland, China as well as in some developing countries like India and Malaysia. The low-cost mobile phones attracted the people who wanted a compact mobile phone with a lower price tag. This showed that Lei Jun was successfully observing the opportunities to start his business. Xiaomi has become hugely popular in the market thanks to the observant leadership by Lei Jun. (Lei Jun - Forbes, 2015)

4.0 VISIONARY

According to Cambridge Dictionaries Online, ‘visionary’ means a person who possesses the ability to visualize how a country, society, industry, and so on will develop in the future and to plan in a suitable method. (Cambridge Dictionaries Online, 2015)

Warren Buffett is known as the "Oracle of Omaha." He is an investment teacher and one of the richest and most respected businessmen in the world. He was born in Nebraska in 1930. When he was young, he had a clear vision ever. He always wanted to be rich by investing his money intelligently. He demonstrated keen business abilities at a young age.

When he was 13, he started running his own businesses as a paperboy and selling his own horse racing tip sheet. When he was studying in high school, he purchased a used pinball machine with his friends for $25 and installed it in a barbershop. The earning profit enabled them to purchase other machines and later Buffer owned machines in three different locations before he decided to sell the business for $1,200. After he finished his master’s degree in 1951, he sold securities for Buffett-Falk Company and worked for his mentor for two years as an analyst at Graham-Newman Corp.

Later in 1956, he formed Buffett Partnership Ltd. in Omaha. By learning and using the knowledge from the book “The Intelligent Investor” authored by Benjamin Graham, he was successfully identified undervalued companies such as Berkshire Hathaway and became a millionaire. He started accumulating stock of Berkshire Hathaway in the early 1960s and by 1965 he had taken over the company. Buffett became one of the world's richest men and a celebrated philanthropist by overseeing the growth of a conglomerate with holdings in the media, insurance, energy and food and beverage industries. (Warren Buffett Biography, 2015)

Buffett is a visionary person because he invests in businesses with superior economic characteristics. He is successful because of his skilled management teams. He also looks for companies with long histories of above-average earnings growth. Buffett is not same like other investors, who pay attention to stock market fluctuations, macroeconomics, or market predictions. Instead, he just sticks to his long-term investment plan. As long as a firm's fundamentals that he invests do not change, he will not sell even in times of economic crisis.

5.0 FAILURE IS AN OPTION

‘Failure is an option’ can be defined in three types which are making room for failure, learn from each failure and fail fast. Making room for failure means that nobody wants to fail, but failing is unavoidable on your way to success. George Bernard Shaw explained that a life spent making mistakes are not only more commendable, but more valuable than a life spent doing nothing. So, if you have never failed, then it possibly means that you do nothing. Failure means you do something instead of you just sitting in your ways.

First of all, learn from each failure means that even though you want to make room for failure, you must not just fail. You need to fail intelligently. That means each failure has to teach you something. Do not fail only and get nothing out of it. Learn something from each failure that enhances you not the best, but to be better and better all the time.

In addition, fail fast is defined as time is precious. If you failed, then you had better failed fast. It is because it will make you learn and improve faster. It will make you be ready for crucial time sooner. The basic point here is to shorten your comment cycle. Try to find a way that can quickly get comments on your efforts, so that you can change yourself shortly. Do not wait until everything is perfect. However, it is better you test it once and refine from there. The word of the open source world applies here is released early, released often. (Latumahina, 2010)

Bill Gates is currently one of the world’s wealthiest individuals, but he did not get his fortune in a traditional style to success. Gates entered the entrepreneurial prospect with a company so-called Traf-O-Data, which targeted to process and analysing the data from traffic tapes. He tried to sell the idea together with his business partner, Paul Allen, but the product hardly even worked. It was a complete ruin. However, the failure was an option which did not hold Bill Gates back from discovering new opportunities. After a few years, he created Microsoft, and forged a new path to success. Thus, this is how Bill Gates makes an option from the failure to create something new towards his successful journey. (Jayson Demers, 2014)

6.0 OPEN CULTURE

‘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 intelligentsia property. (''OPEN CULTURE'' - A DEFINITION, 2015)

Mark Zuckerberg is known as a Facebook co-founder, a Chairman and CEO of the company. He is also a software designer. Facebook is co-founded by himself and his classmates Dustin Moskowitz, Eduardo Saverin and Chris Hughes from Harvard University in 2004, known as the leaders of Facebook. Zuckerberg began writing code in secondary school, because he preferred to play on the computer. His thoughts far more than their peers. In the 1990s his father had taught him to hire software developer David Newman after Atari BASIC Programming as his tutor. Newman said Zuckerberg was a child prodigy.

His ideas to create Facebook started when the beginning of "The Photo Address Book" which was the system to create a picture at the core of the site, to expand private school student exchanges, students can list each other's basic information, such as class, school, dating preferences, phone number and so on. Mark Zuckerberg created Facebook not to make money, but he wanted to create a public information pipeline between interpersonal. When he was featured in ‘Connection’ magazine interview in 2010, he said he was still trying for the same goal: "I am most concerned about is how to make the world more open. (Mark Zuckerberg Biography, 2015)

In order to make the operation of the company more fluidly, Zuckerberg decided to move the headquarters of Facebook to a massive open floor plan office in 2015. By having an open floor plan where the staffs work close together, it helps them to share information and communicate with each other for better cooperation. The open and transparent workplace is the key to building the best services for the community. Zuckerberg doesn’t have a special and fancy office room for his daily working. He works on the type of desk as everybody else in the open office. (Gillett, 2015)

In conclusion, Facebook grew up fast and became the most popular social media in the world thanks to the open culture which facilitated a better communication for changing ideas and enhance the creativity and innovation of the company to stand out from its competitors.

7.0 OUTCOME ORIENTED

‘Outcome oriented’ can be defined as an entrepreneur emphasize achievement, results, and action as important values. It describes an entrepreneur who considers the outcomes are the standards based on results like winning or losing. After identifying the goals and objectives, when he works for some plans and concentrate on the result. It also refers to an entrepreneur have the clear achievement and goals set up in his mind before he makes a decision for his company. If a company wants to continue developing and expanding the company in the future, the outcome oriented culture can drive a company to a better achievement. (Bauer, 2011)

When a company foster an outcome orientated culture, the workers will more motivated and willing to work-hard for the company to achieve the goal of the company. Once the objective is determined, no matter what problems and challenges they face, they will keep on going.

A suitable example of an outcome-oriented culture may be Starbucks Corporation. Howard D Schultz is an American businessman, known as the chairman and Chief Executive Officer (CEO) of Starbucks.

In 1982, after he joined Starbucks as the director of marketing, he focused on maintaining the qualities of each product. He also investigated a variety of special flavours of products. He had a clear goal to enter the international market to increasing his volume of business. He converted his business from traditional methods to franchise and expanded to the whole world, until now the world has more than 12,000 of chain stores includes Malaysia, Thailand, Australia, Taiwan, Japan and other countries. (Howard Schultz Biography, 2015)

Howard D Schultz had a clear concept before he started his business. His successful career let him achieved the world's largest coffee chain. In the future, Starbuck will continue improved and maintained their products and increasing the value of share market. Starbuck will publish various products not only coffee but also involving other merchandises. Starbuck will be more focusing on marketing strategy and packaging production, in order to accomplish the objective and ambitious of company.

8.0 TEAM ORIENTED

Entrepreneurs who focus on team-oriented means that they emphasize the cooperation among employees. (Bauer, 2011) Businesses that highlight a spirit of teamwork and collaboration enable employees to take advantage of their individual strengths. The effective teams can create a product which is greater than the sum of the individual effort. There are some tactics that can foster a team orientation, including team building and diversity workshops, merit systems that recognize team oriented culture.

Team oriented businesses value diversity and understand that generating different opinions to a team effort fosters opportunities for new ideas and useful solutions to problems. Besides that, a lot of exercises are available to guide groups to work as a cohesive team. Effective workshops can strengthen the communication and collaboration skills of the employees. Some workshops also incorporate trust-building exercise that ease employees open up and learn to rely on other’s to achieve a common objective.

Tasks and projects are done more quickly and efficiently when tasks are designated based on the strengths and abilities of each employee. The successful teams have a sense of shared purpose and understand that diversity contributes to problem-solving and creative solutions. (Eigen, 2015)

For example, AirAsia emphasizes on building a strong, team oriented corporate culture. AirAsia is a low-cost airline which introduced by a Malaysian entrepreneur, Tony Fernandes.

The team-oriented culture helps employees to understand the strategy of the company and focus on maintaining low costs and high productivity. Employees are motivated when bonuses awarded by the company. In order to increase the loyalty of employees, ECOS (Employee share ownership scheme) is made available. Tony Fernandes encourages open communication in AirAsia to create a dynamic working environment. Employees can directly express their opinions to the company’s management such as the way to increase the efficiency and productivity of the company’s operation.

Thus, the culture of team-oriented is the key to build the loyal, high efficiency and creative team to achieve as a successful company.

9.0 PROACTIVE

            According to Cambridge Dictionaries Online, ‘proactive’ means taking action by causing change and not only reacting to change when it happens. (Cambridge Dictionaries Online, 2015)

             Jack Ma is a Chinese businessman and philanthropist. He is the founder and executive chairman of Alibaba Group, a highly successful e-commerce businesses. He is the first mainland Chinese entrepreneur to arise on the cover of Forbes. (Jack Ma - Forbes, 2015) As of November 2014, he is the richest man in China and 18th richest person in the world, with an estimated net worth of $29.7 billion based on Bloomberg Billionaires Index. (William Mellor, Lulu Yilun Chen and Zijing Wu , 2014)

            Jack Ma is a proactive person because he is taking risks to stab at an internet business. He can see the opportunity of the internet because he thinks the internet will change the world one day. At the beginning, when he talked about the internet, the other investors thought he was crazy and did not want to invest in his business. But today, his company becomes the largest initial public offering in US financial history. This is because his proactivity to start the business at the beginning.

            In order to fight the sake of fake goods online, Jack Ma met the head of China’s top government agency on product quality and work with the authorities. The company would use data and cloud-computing capabilities to provide information to the authorities. The sale of counterfeit merchandises online had affected the image of Chinese companies, products as well as the nation as a whole. Jack Ma showed his proactivity reaching out to the government agencies to enhance cooperation. (Wong, 2015)

TASK 1: SECTION B

BIOGRAPHY – LARRY PAGE

Larry Page is known as an Internet entrepreneur and computer scientist. Larry Page worked with his teammate, Sergey Brin to create the Google search engine back in 1998.

Page was born in Michigan in 1973 whose parents were computer experts. His father, Carl Page, was an expert and pioneer in computer science and artificial intelligence while his mother was an instructor in computer programming. Thus, it was not surprising that he was influenced by the environment of the family to study in computer engineering at Stanford University after earning a Bachelor of Science degree in engineering from University of Michigan.

In the campus, he met Sergey Brin and developed a search engine that listed results according to the popularity of the pages, naming it ‘Google’. The company has become the world’s most popular search engine among its competitors. The search engine processed around 6 billion searches daily in 2013.

Page was ranked No.13 of the richest people in the United States on ‘Forbes 400’ in September 2013. In the next month, he was ranked No.17 in the list of 2013 “Most Powerful People” on Forbes. As a CEO of Google, Page responsible for the company daily operation with the assists of Brin, the director of special projects for the company, and Eric Schmidt who served as executive chairman. 

In August 10, 2015, Page and Brin established a new parent company named Alphabet to oversee Google and its subsidiaries. Both of them served as CEO and president of the new company. (Larry Page Biography, 2015)

1.0 VISIONARY

Larry Page is a visionary leader who has changed how human to interact with their society. He changed how the people use the Internet to search for any information by Google search engine. Google search engine originally used as a search engine on the Stanford University website and grew more popularity among the Sanford users and later it became available to the Internet users. Page and his partner Brin developed the PageRank algorithm to build a search engine that analysed the relevance of backlinks than connected one web page to another.

Google search engine comes with a simple design has attracted a massive number of Internet users. (Is Google good for you?, 2003) Later, Google began selling advertisement in the search engine web page which associated to the keywords searched by Internet users to generate more income for the company. According to a market research report by comScore in 2009, Google ranked as the top 1 search engine with the market share of 65.6% in the United States among the other competitors such as Yahoo, Microsoft, Ask Network and AOL LLC Network. (comScore Releases November 2009 U.S. Search Engine Rankings, 2009)

 Page had a vision that the smartphone will become a trend in the market. In 2005, his company acquired Android for USD50 million to fulfil his ambition to place handheld computers in the possession of users to ease them access Google from anywhere. (Manjoo, 2015) Page had a passion for the development of Android and poured large amounts of time with Android CEO as well as cofounder Andy Rubin. 3 years later from the acquisition, T-Mobile released the G1, the very first smartphone running on Android operating system. According to the 2015 Q2 analysis report by IDC, Android was dominant of the mobile operating system with the market share of 82.8% in worldwide among the others like iOS, Windows and Blackberry OS. (Smartphone OS Market Share, 2015 Q2, 2015)

In 2010, Google announced that they were working on self-driving cars which involved billions of dollars invested in the technology. Page dedicated to work on the project before he became a CEO of Google in 2011. This showed that the ambition of Page on his vision to bring Google to the forefront of the technology. (Banks, 2015)

 Page showed his vision to the wearable technology in the future when Google started developing Google Glass. Google Glass is a type of technology with optical head-mounted display. (Goldman, 2012) Google Glass displays information in a smartphone-like hands-free format. Users communicate with the Internet via natural language voice commands. (Newman, 2012) Google Glass features a touchpad, camera and display with variable functions such as taking photo and recording video.

The Google Glass is also being used in the healthcare sector. In December 2013, Medopad, a London based mobile health solution provider, announced the first wearable health record. Doctors can use the Medopad application for Google Glass to check patient records, collaborate with 5 other doctors to work simultaneously by sharing what they are viewing and able to conduct surgery with another watching remotely through Google Glass. (Google Glass & Medopad: Rich and Dan tell their stories, 2014)

Google not only introduced wearable technology to Glass but also smartwatches. The company developed Android Wear operating system for the smartwatches which support Bluetooth and Wi-Fi connectivity. Users can control their phones by using Android Wear powered smartwatches such as playing music and receiving calls. Via Google Fit integrated in the operating system, Android Wear able to do ride and run tracking, step counter as well as calorie expenditure. Android Wear smartwatches will able to show notifications like email, message, reminders, stocks, traffic and flight status. (D'Orazio, 2014)

Page showed his passion to build and develop more technology with his visionary leadership. He has changed how the people use the World Wide Web and communicate with others which is quick and effective.

2.0 OPEN RISK TAKER

            Larry Page believed that in order to gain big rewards, the first way is to take big risks. Larry Page is an educated risk-taker. When he started out the company with his partner, they used their credit cards and their friends and families credits cards to buy bandwidth for the company, predicting Google needed a lot of data. However, this was a big, risky move, especially the fact that they used credit cards as opposed to getting a loan. Larry Page was very specialized in the area of computers and he was confident that it was going to work out. His confidence was the way to ensure he overcame the big risks and doubt. (Larry Page, 2015)

            Besides, Larry Page took huge risks when he was focusing big ideas. This is because in the past few years, he had shaped the narrative of himself and Google that’s Google will only interested in big, world-changing ideas and this idea called “Moonshots”. Larry Page had created gospel of 10X. Most of the companies will happy to improve the product by 10 percent.

            Since then, Google had presented what it considers 10X improvements. It founded Calico, an anti-aging company designed to ultimately cure death. It developed its own self-driving car. It also announced development of tiny, magnetic nanoparticles that will able to search the human body for cancer and other diseases.

As Page sees it, it all comes down to ambition that is a commodity of which the world simply did not have a large enough supply. In the midst of one of its periodic booms, Silicon Valley, has become short-sighted, he says. Page estimates that only 50 investors are chasing the real breakthrough technologies that have the potential to make a material difference to the lives of most people on earth. If there is something holding these big ideas back, it is not a shortage of money or even the obstacle of insurmountable technical hurdles.

Moreover, Larry Page also takes the risk of fighting with other social media like Facebook and Twitter. After the dismal performance of Wave, the search giant last year launched Google+, its latest plan to break into the profitable social media space where it faces strong competitors like Facebook and Twitter. It is still far behind Facebook in numbers over 100 million against Facebook’s more than 800 million. If it can attract users from Facebook to join Google+, it would shake up the social media space, not to mention grow its revenue.

            Furthermore, Larry Page took a risk on managing a large company. Page was CEO when Google was founded and that was about 24,200 employees ago. Processes, procedures and the usual corporate bloat all become risks at a company as large as Google. Another problem is Larry Page has no experience to run a company as large as Google. Larry Page is really brave to take risk in his business management.

3.0 FAILURE IS AN OPTION

During Larry Page’s first occupation as CEO, Page entered on a failed effort to fire all of Google's project managers in 2001. Page's plan complicated all of Google’s engineers reporting to a VP of engineering, who would straight report to him. Page explained that he did not like non-engineers managing engineer due to their limited technical knowledge. (Carlson, 2014) Although Page made the mistakes of overestimating their limited managing information, but he tried to make an option to document his management’s beliefs for his team to use as a reference.

First, do not be representative which means everyone does everything with your best to make things go faster. Second, do not get in the manner if you are not adding value which means let the people really doing the jobs talk to each other while you are working something else. Third, do not be an officer who doing nothing. Fourth, ideas are more vital than age because someone is junior does not mean they do not respect and support.

Page explained that No Period which means the worst thing you can do is to stop somebody from undertaking something. If you say no, you should assist them to look for a better way to get it done. Even though Page's new model was unmaintainable and led to dissatisfaction among the affected employees, his concern with engineers being managed by non-engineering staff gained power more roughly. Eventually, the practice of only establishing engineers into the management roles of engineering teams was well-known as a standard across Silicon Valley. (Nisen, 2014)

Larry Page also understood that the faster Google’s search engine respond to the users, will attract more users to use it frequently. He fussed over milliseconds and pushed his engineers from those who developed systems to those who constructed data centres to think about lag times. He also pushed for keeping Google’s home page excellently fitted in its design because it would support the search results load faster. (Helft, 2014)

The way Page sees improvement means that you are fundamentally doing the same thing as everybody else. You possibly would not fail dramatically, but you are sure not to succeed wildly. That is why Page expects his employees to produce products and services that improvements are better than the competition. That means he is not satisfied with determining a couple of hidden proficiencies or adjusting key to complete modest achievements. (Levy, 2013)

Larry page tried to make an option to overcome and fixed Google’s public image problems when Google failed to win over consumers in many other attempts. It is because there are perception and reality problems. Google has to work as humble and realistic, not arrogant. Google finally learned how to speak appropriately in public without causing a disturbance on every incident. When it moves toward to Google’s brand name, it has a lot working for it with search, like YouTube and Android. Therefore, Google should win trust and surprise its fans over and over again. (Takahashi, 2011)

In conclusion, this is how Larry Page makes an option for overcoming his failure towards success.

4.0 TEAM ORIENTED

When Google established in 1998, it had only three men. They were Craig Silverstein Larry Page and Sergey Brin, they are the founders of Google. Team-oriented culture emphasize the cooperation between each other to contribute to the company. The cooperation such as sharing ideas and opinions as well as discussion enable to help in making decision and generate new ideas in order to create some innovative and creative technologies.

The concept of team oriented must in a company. Everyone has a contributing factor in the operations and decisions that concern the business. No one is more superior in the business and everybody has an equal say without any repercussions. Google has always been to encourage employees to innovate, so that they can give full play to their imagination, thereby forming innovative atmosphere. They have always wanted to create an atmosphere so that employees can get together, through a variety of ways to expand surprising innovations.

“We try to keep as many channels of expression, so that different people and different ideas can be displayed in different ways." said Larry Page. They included pipeline like Google Café, encouraged staffs within the team or between teams interact to achieve dialogue at work and leisure. Employees can send e-mail directly to any corporate leaders when they have any idea or innovation, (Mathew J. Manimala, 2013)

“Google Moderator” was a Google service created by Google engineers as an innovative management tool that used crowdsourcing to rank user-submitted questions, suggestions and ideas. Whenever employees wanted to start technical discussions or hold a company meeting, anyone could ask questions, and then the others voted to choose their favourite issues. With this tool, employees could understand the existing ideas, questions, suggestions, to seek new ideas based on the theme, event or meeting. (Arrington, 2008)

Google started a project called Google Universal Ticketing Systems (GUTS). The project could provide an avenue for employees to submit any problems, and then to assess the state of the problems. (He, 2013)

Larry Page has a very open and equal way of leading, making him a democratic leader. Furthermore, he urges his employees to believe in crazy ideas because those ideas might really change the world. He respects all the workers in the company as he will accept the good ideas no matter the ideas come from a manager or a low-level employee.

Since Larry is an introvert, he is more likely to listen and include other people’s creative ideas. Introverts are said to be the best leaders for proactive employees. Because of Larry’s strong leadership skills, there are people that are committing to a few more years to the corporation because of their belief in Larry. Larry tries his best to avoid an autocratic method of leading by building his team to gather more insight and ideas to help Google’s growing. He insists on being participate in hiring new employees and continues to seek thousands of brilliant graduates to join Google's team.

Nevertheless, Page leads his employees towards new horizons of innovations and advancing technologies. Currently, he is working to train a nimbler and faster management approach. Page says that his employees should follow the qualities such as being a good leader, empower your team, avoid micromanaging and express interest in your team members’ well-being.

Larry Page is a leader that is working, not one, but many steps at a time to make sure that he can offer what's best for Google and his employees and that is what makes him not just Google's CEO, but a great leader that will surely boost Google's services and maintain employees’ happiness. Larry Page believes that if you have more people and more resources, you can do more things, get more things solved.

5.0 OPEN CULTURE

Larry Page fosters an open culture in the working environment of Google to make the decision making process run faster. The company aims to maintain the open culture often associated with starts up. The open culture lets everyone in the company to be a hands-on contributor and feels comfortable expressing views and ideas. Every week, an all-hands (“TGIF”) meeting will be held. The employees can ask questions directly to Larry, Sergey and other executives about any issues of the company. (Our Culture - Google, n.d.)

Furthermore, employees are encouraged to use any channels of expression to communicate and share their ideas and points of view. Larry encourages transforming ideas into actions: “Almost everyone who has owned an idea that’s somewhat revolutionary or wildly successful was first told they were insane.” The company also introduced Googlegeist which is a survey system to collect feedback on hundreds of issues and assist the management focus on what’s working and the parts that need to be improved. (Malone, 2014)

Besides, the offices and cafes of Google are designed to encourage interactions between employees within and across teams and to spark conversation about work as well as play. (Our Culture - Google, n.d.)

Larry made Google the happiest workplace of 2014. Google ranked on the top of Forbes list of best places to work for the fifth year in a row this year. In 2015, Google was hailed Glassdoor’s Best Place to Work 2015 for the first time. (Malone, 2014)

A lot of Google employees comment that the culture feels like that of a startup, an open environment where creativity and productivity thrives. Larry Page has successfully managed to align the culture of the Google workplace to that of a family. The culture empowers and promotes a work life balance to the employees. In addition, open culture helps in bridging the gap in the organisation and fostering success. (Malone, 2014)

CONCLUSION

In conclusion, entrepreneurs need to practice entrepreneurial skills and traits in order to achieve success. Entrepreneurs who are proactive and open risk takers enable them to run their business with ambition such as expanding their businesses into new market.

Observant and visionary characteristics help entrepreneurs looking for opportunities to build or expand their ventures by imagining the development and trend of the world in future.

Entrepreneurs who foster an open culture and team oriented makes the organisation works more efficiently by sharing and changing ideas and opinions directly to the company’s management. The employees in the company work as a family to improve the operation of the company to achieve the goal.

Entrepreneurs were not successful at the first attempt when they started their own businesses. They faced failure and learned from the mistakes, then improve their planning.

The practice of outcome oriented in the company helps it to achieve the goal by motivating the employees. By judging the achievement of the company, entrepreneurs determine either success or failure of the company.

REFERENCES

(2015). Retrieved from Cambridge Dictionaries Online: http://dictionary.cambridge.org/dictionary/english/

Alistair Barr, Donna Leinwand Leger. (2013, 11 11). Amazon starts Sunday delivery with US Postal Service. Retrieved from USA Today: http://www.usatoday.com/story/tech/2013/11/11/amazon-sunday-delivery-usps/3479055/

Anastasia. (2015, 2 22). What qualities make a good networker. Retrieved from Entrepreneurial Insights: http://www.entrepreneur.com/encyclopedia/networking

Arrington, M. (2008, 9 25). Use Google Moderator To Crowdsource Group Questions. Retrieved from Tech Crunch: http://techcrunch.com/2008/09/25/use-google-moderator-to-crowdsource-group-questions/

Banks, R. (2015, 1 30). Industry profile: Larry Page, CEO of Google. Retrieved from Mobile Industry Review: http://www.mobileindustryreview.com/2015/01/industry-profile-larry-page.html

Barnhouse, J. (2015, 7 29). 5 QUALITIES THAT MAKE AN ENTREPRENEUR SUCCESSFUL. Retrieved from Start Capital: http://www.startcapital.com/5-qualities-that-make-an-entrepreneur-successful/

Bauer, T. (2011). Characteristics of Organizational Culture . Retrieved from Professional Educational Organization International: http://www.peoi.org/Courses/Coursesen/orgbeh1/contents/frame15b.html

Carlson, N. (2014, April 24). The Story Of How Larry Page Got Forced From The Top Of Google And Came Back A Decade Later. Retrieved from Business Insider Malaysia: http://www.businessinsider.my/larry-page-the-untold-story-2014-4/2/#ufmOkwtWMQJkRtiH.97

comScore Releases November 2009 U.S. Search Engine Rankings. (2009, 12 16). Retrieved from comScore: http://ir.comscore.com/releasedetail.cfm?ReleaseID=430895

D'Orazio, D. (2014, 3 18). Google reveals Android Wear, an operating system for smartwatches. Retrieved from The Verge: http://www.theverge.com/2014/3/18/5522226/google-reveals-android-wear-an-operating-system-designed-for

Eigen, D. (2015). Team Orientation in a Businesses Culture. Retrieved from Chron.com: http://smallbusiness.chron.com/team-orientation-businesses-culture-48497.html

Gillett, R. (2015, 9 16). Mark Zuckerberg shows that he works at the same kind of desk as everybody else. Retrieved from Business Insider Malaysia: http://www.businessinsider.my/mark-zuckerberg-virtual-tour-frank-gehry-designed-building-2015-9/

Goldman, D. (2012, 4 4). Google unveils 'Project Glass' virtual-reality glasses. Retrieved from CNN Money: http://money.cnn.com/2012/04/04/technology/google-project-glass/

Google Glass & Medopad: Rich and Dan tell their stories. (2014, 3 31). Retrieved from Impact Hub Westminster: http://westminster.impacthub.net/2014/03/31/google-glass-medopad-rich-and-dan-tell-their-story/

Griffin, D. (2015). Types of Business Risks. Retrieved from Houseston Cronical: http://smallbusiness.chron.com/types-business-risk-99.html

He, L. (2013, 3 29). Google's Secrets Of Innovation: Empowering Its Employees. Retrieved from Forbes: http://www.forbes.com/sites/laurahe/2013/03/29/googles-secrets-of-innovation-empowering-its-employees/

Helft, M. (2014, 11 18). How music education influenced Larry Page. Retrieved from Fortune: http://fortune.com/2014/11/18/larry-page-music-education/

Howard Schultz Biography. (2015). Retrieved from Biography.com: http://www.biography.com/people/howard-schultz-21166227

Is Google good for you? (2003, 12 19). Retrieved from BBC News: http://news.bbc.co.uk/2/hi/technology/3334531.stm

Jack Ma - Forbes. (2015). Retrieved from Forbes: http://www.forbes.com/profile/jack-ma/

Jayson Demers. (2014, DECEMBER 9). 6 Stories of Super Successes Who Overcame Failure. Retrieved from Entrepreneur: http://www.entrepreneur.com/article/240492

Jeff Bezos Biography. (2015). Retrieved from Biography.com: http://www.biography.com/people/jeff-bezos-9542209

Larry Page. (2015, 8 21). Retrieved from Google+: https://plus.google.com/+LarryPage/posts

Larry Page Biography. (2015). Retrieved from Biography.com: http://www.biography.com/people/larry-page-12103347j

Latumahina, D. (2010, April 12). Failure Is an Option, But Fear Is Not. Retrieved from LifeOptimizer: http://www.lifeoptimizer.org/2010/04/12/failure-is-an-option-fear-is-not/

Lei Jun - Forbes. (2015). Retrieved from Forbes: http://www.forbes.com/profile/lei-jun/?list=billionaires

Levy, S. (2013, 1 17). GOOGLE’S LARRY PAGE ON WHY MOON SHOTS MATTER. Retrieved from Business: http://www.wired.com/2013/01/ff-qa-larry-page/

Li, S. (2015, 7 24). Amazon overtakes Wal-Mart as biggest retailer. Retrieved from Los Angeles Times: http://www.latimes.com/business/la-fi-amazon-walmart-20150724-story.html

Lim Goh Tong. (2015). Retrieved from UKEssays: http://www.ukessays.co.uk/essays/culture/lim-goh-tong.php

Malone, C. (2014, 12 26). HOW LARRY PAGE MADE GOOGLE THE HAPPIEST WORKPLACE OF 2014. Retrieved from Knote: http://knote.com/2014/12/26/larry-page-happiest-workplace/

Manjoo, F. (2015, 5 27). A Murky Road Ahead for Android, Despite Market Dominance. Retrieved from The New Yorks Times: http://www.nytimes.com/2015/05/28/technology/personaltech/a-murky-road-ahead-for-android-despite-market-dominance.html?_r=0

Mark Zuckerberg Biography. (2015). Retrieved from Biography.com: http://www.biography.com/people/mark-zuckerberg-507402

Mathew J. Manimala, K. P. (2013, :May / June ). Leadership that empowers. Retrieved from http://iveybusinessjournal.com/publication/distributed-leadership-at-google-lessons-from-the-billion-dollar-brand/.

Miguel Helft. (2014, 11 18). How music education influenced Larry Page. Retrieved from Fortune: http://fortune.com/2014/11/18/larry-page-music-education/

Newman, J. (2012). Google's 'Project Glass' Teases Augmented Reality Glasses. Retrieved from PCWorld: http://www.pcworld.com/article/253200/googles_project_glass_teases_augmented_reality_glasses.html

Nisen, M. (2014, 4 25). Larry Page’s lost decade was the best thing to ever happen to Google. Retrieved from Quartz: http://qz.com/202710/larry-pages-lost-decade-was-the-best-thing-to-ever-happen-to-google/

''OPEN CULTURE'' - A DEFINITION. (2015). Retrieved from CIAC: http://www.ciac.ca/en/open-culture-definition-en

Our Culture - Google. (n.d.). Retrieved from Google: https://www.google.com/about/company/facts/culture/

Price, R. (2015, 6 8). The founder of China’s biggest startup reveals the secret to its success. Retrieved from Business Insider: http://www.businessinsider.my/xiaomi-ceo-lei-jun-discusses-secret-behind-success-pig-flying-whirlwind-2015-6/

Smartphone OS Market Share, 2015 Q2. (2015). Retrieved from IDC: http://www.idc.com/prodserv/smartphone-os-market-share.jsp

Streitfeld, D. (2011, 10 18). In a Battle of the E-Readers, Booksellers Spurn Superheroes. Retrieved from The New York Times: http://www.nytimes.com/2011/10/19/technology/bookstores-drop-comics-after-amazon-deal-with-dc.html

Strock, J. (2015, 3 9). Marwa Hijazi | Entrepreneurs and Leaders. Retrieved from Serve To Lead: http://servetolead.org/entrepreneurs-and-leaders/

Takahashi, D. (2011, 4 4). Ten challenges facing Google’s new CEO Larry Page. Retrieved from Venture Beat: http://venturebeat.com/2011/04/04/ten-challenges-facing-googles-new-ceo-larry-page/

Warren Buffett Biography. (2015). Retrieved from Biograhpy.com: http://www.biography.com/people/warren-buffett-9230729

What is an entrepreneur. (2015). Retrieved from Business Dictionary: http://www.businessdictionary.com/definition/entrepreneur.html

What is risk taker. (2015). Retrieved from Business Dictionary: http://www.businessdictionary.com/definition/risk-taker.html

William Mellor, Lulu Yilun Chen and Zijing Wu . (2014, 11 10). Ma Says Alibaba Shareholders Should Feel Love, Not No. 3. Retrieved from Bloomberg: http://www.bloomberg.com/news/articles/2014-11-09/ma-says-alibaba-shareholders-should-feel-love-not-no-3

Wong, G. (2015, 2 10). Alibaba’s Jack Ma meets China’s product quality chief. Retrieved from Market Watch: http://www.marketwatch.com/story/alibabas-jack-ma-meets-chinas-product-quality-chief-2015-02-10