INDIVIDUAL ASSIGNMENT BPME2013 LEG BLOG !!!

Monday 24 March 2014

THE ENTREPRENEUR: MARK ZUCKERBERG

I choose Mark Zuckerberg because his over the years has become one of the most influential people in the world. He was founder and creator of Facebook. Nowadays, many people using the Facebook to connect with other around world.

Mark Zuckerberg was born May 14, 1984 in White Plains, New York. He was American computer programmer, Internet entrepreneur and philanthropist. He was one of the five founders of the biggest social networking website Facebook.

He was the second of four children and the only son in the educated family. Mark Zuckerberg and his three sisters, Arielle, Randi and Donna were raised in Dobbs Ferry, New York, a small town about 10 miles north of New York City. Mark’s father, Edward Zuckerberg, is a dentist and mother, Karen Zuckerberg, is a psychiatrist.

Mark Zuckerberg got interested in programming yet in elementary school. The fact that the world is divided between programmers and users, Mark Zuckerberg found out when he was 10 years old and got his first PC Quantex 486DX on the Intel 486. In middle school he began to write software and use computers. He learned Atari basic programming and a tutor he had considered a “prodigy.”

At Ardsley High School, Mark Zuckerberg excelled in in classics. He transferred to Academy of Phillips Exeter, an exclusive preparatory school in New Hampshire where he won prizes in math, astronomy and physics. While he was still in high school, he took a college graduate program in computer programming. He built a program called Zucknet where the computer at home could communicate with his father’s computer at his dental practice. He also used his creativity to build computer games often out of ideas his friends would draw for him. When he eventually went to go to college, he claimed to be able to read and write in Latin, French, Hebrew, English and Greek. His overall knowledge and intelligence helped him excel at college, where he would often recite poems such as the epic ‘The Iliad’.

In college Mark Zuckerberg was already known as a “programming prodigy” due to the work he had done in high school. There he wrote a program he called CourseMatch that helped students choose their subjects on the basis of lists of courses from other users. In college the students had books called “Facebooks.” They had the pictures and names of people that lived in the student dorms. Mark Zuckerberg build a website, where there were two pictures of males and two of females. People that visited the site had to choose which person was hotter. This site went up over one weekend and it was called Facemash. However, the college shut it down because the popularity of it kept students from getting onto the Internet. Also some students didn’t like the idea of their pictures being used and Mark Zuckerberg was forced to apologize for his actions.

In 2004 Mark Zuckerberg began writing a new website which he called TheFacebook. He had several students help him with TheFacebook including Eduardo Saverin, Andrew McCollum, and Dustin Moskovitz. The site was initially just a Harvard site but soon expanded to other colleges and universities. By 2005 “TheFacebook” was known just as Facebook. The site opened up to anyone over age 13 in 2006. By 2007 the site had over 100,000 businesses listing their companies on Facebook and creating pages. By 2011 it became the largest digital photograph host and had over 350 million accessing the site over mobile phones.

On May 18th 2012 Facebook made its IPO (initial public offering), offering 421 million shares to private investors at the price of $38. This set the value of the whole company at $104 billion, which made Facebook the biggest business going public till then. Almost everybody wanted to buy a piece of the booming social miracle, so rising almost $16 billion from the market was like a walk in the park. However, things didn’t went well for investors. Just two weeks after the IPO, the market price of the shares fell dramatically by 27% to $27.72 per share. During the next months the price even further, reaching level around $19 . All this didn’t made investors really happy, some of whom lost around 50% of their investments for a few months. More than 40 lawsuits were filled the first week after the IPO. The price has recovered in 2013 and currently it’s around $41.

Mark Zuckerberg was named to the 100 wealthiest and most influential people in the world list put out by Time magazine in 2010. Mark Zuckerberg who is also Jewish, is listed as one of the most influential Jews in the world as well. His net worth is estimated at 16.8 billion in 2013 and currently he is the CEO (Chief Executive Officer) of the social company. There is no doubt that Facebook has changed the way we communicate online and today it remains a very popular site thanks to this young entrepreneur.

This video is a brief biography on the founder and CEO of Facebook Mark Zuckerberg. In this video you will see the secret's to Mark Zuckerberg's success and how you can use the same steps to becoming successful and potentially as successful as the youngest billionaire in the world.

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THE PROBLEM FACED BY ENTREPRENEURS DURING START-UP

1. Overwhelming Feelings

There is always a huge learning curve when you first start a business. Although you may have lots of experience in the corporate world in your field, it's totally different when you're the captain of your own ship. Now, you have to be the boss, the marketer, the secretary, the customer service person, the shipper, and the list goes on! But these overwhelming feelings surely do not only come to starting entrepreneurs. Some experienced and successful entrepreneurs tend to feel overwhelmed at times too so don't be discouraged.

2. Lack of Support

Sometimes entrepreneurs find it difficult for family and friends to understand their drive. We aren’t built the same way as most. Push through any criticism you encounter and stay focused, you’ll find that, following success, those very same people will often be singing a very different tune. Find support in colleagues and industry connections. Get involved in professional organizations that are related to your endeavor and stay motivated by connecting with other successful entrepreneurs. You aren’t alone.

3. Growing a Business

The challenge in growing a business mostly lies in the lack of financial resources. Let's face it, money begets money. If you have the money, it's easier to put your product out there in hundreds of thousands of people just like the bigger brands, the Fortune 500 companies. You see them on TV, radio, billboards, social media, and sometimes maybe in your inbox!

Unfortunately, for most small business and starting entrepreneurs, this is not the case. You have to work hard to make money so you can use that to make more money! How ironic, isn't it? But that's where the challenge is! I really do believe that this area of having your own business teaches you a lot about persistence and creates such an experience for you that molds you as a business person.

4. Negative Mindset

Often, entrepreneurs find themselves discouraged in the beginnings of a start-up. Failure and lackluster achievements almost always have that affect, it’s natural. What sets true entrepreneurs apart from the crowd is their stamina and willingness to push through the rougher times. Keep your head up and stay focused. Don’t let yourself fall in to the mindset that you can’t accomplish your goals. Good things usually take time to develop. With vision and determination comes success, it’s inevitable.

5. Feelings of Wanting to Give Up

Because a business takes time to grow and it usually takes a lot of effort to make it work, feelings of wanting to give up do come sometimes, especially when you're not seeing the results that you want when you want it. Perhaps your funds are already starting to get depleted or you're getting physically and mentally drained.

6. Misplaced Purpose

Money is something we’re all concerned with, but don’t let it blind you from the main goals of your business. Your passion should be focused on your customers and products. Focus on your organization’s message, how you set yourself apart from the competition, and why your business is a valuable asset to consumers, the money will come.

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THE ENTREPRENEUR: TAN SRI TONY FERNANDES

I choose Tan Sri Tony Fernandes because he was a Malaysian entrepreneur who has successfully transformed a company that is plunging down a long time ago to a well-known brand around the world.

Tony Fernandes was born April 30, 1964 in Kuala Lumpur. He was recognized for his efforts in flying the Malaysian entrepreneurial spirit on both local and global fronts. Tony Fernandes's father was a physician, originally from Goa and Portuguese-Eurasian mother, Ena Dorothy Fernandes of Malacca, Malaysia. At a young age, he used to follow his mother, a businesswoman, to Tupperware dealer parties and conventions. He was educated at The Alice Smith School in Kuala Lumpur. He graduated from Epsom College, UK, London School of Economics in 1983.

Tony Fernandes worked very briefly with Virgin Atlantic as an auditor, subsequently becoming the financial controller for Richard Branson's Virgin Records in London from 1987 to 1989. Tony Fernandes was admitted as Associate Member of the Association of Chartered Certified Accountants (ACCA) in 1991 and became Fellow Member in 1996. He is currently a member of the Institute of Chartered Accountants in England and Wales (ICAEW). Upon his return to Malaysia, he became the youngest managing director of Warner Music (Malaysia) Sdn Bhd. He subsequently became the South East Asian regional vice-president for Warner Music Group from 1992-2001.

When Time Warner Inc announced its merger with America Online Inc., Tony Fernandes left to pursue his dream of starting a budget no-frills airline. However, his application for a license from the Malaysian government was rejected. He never give up and until he came to meet with the Prime Minister, Tun Dr. Mahathir Mohamad in October 2001 through Datuk Pahamin A. Rejab, the former secretary-general of the Malaysian Domestic Trade and Consumer Affairs Ministry. Instead of starting from scratch, Mahathir advised Tony Fernandes to buy an existing airline. AirAsia, the heavily indebted subsidiary of the Malaysian government-owned conglomerate, DRB-Hicom, was losing money. Tony Fernandes mortgaged his home and used his personal savings to acquire the company, comprising two Boeing 737-300 jet aircraft and debts of US$11 million (RM40 million), for one ringgit (about 26 US cents), and transformed it into an industry player. One year after his takeover, AirAsia had broken even and cleared all its debts. Its initial public offering (IPO) in November 2004 was oversubscribed by 130 per cent.

Tony Fernandes biggest achievement has been to turn the AirAsia airline into an international carrier. Before the creation of AirAsia, countries in the region did not have open-skies agreements. In mid-2003, Tony Fernandes lobbying pushed Dr Mahathir to raise the idea with the leaders of neighbouring Thailand, Indonesia, and Singapore. As a result, those nations have granted landing rights to AirAsia and other discount carriers. Tony Fernandes opened up the budget carrier sector in the region.

Tony Fernandes's many awards include honoured by the King of Malaysia with the title Tan Sri, Dato' Sri and also by the government of France with the Legion d'Honneur Order. In 2011, according to a Team Lotus press release, Tony Fernandes was awarded a CBE or Commander of the Order of the British Empire "for services to promote commercial and educational links" between Malaysia and the UK. He was named as one of the world's 100 most creative people in business for 2011 by New York-based business magazine Fast Company, and awarded the Inaugural ‘Travel Business Leaders Award’ winner by CNBC.

Sources:

http://en.wikipedia.org/wiki/Tony_Fernandes

THE ENTREPRENEUR: ROBERT KUOK HOCK NIEN

I choose Robert Kuok Hock Nien because he’s amazing story of rising up from poverty and becoming Southeast Asia’s richest person has become a shining inspiration for a lot of people. Robert’s philosophy in business can be summed up into four words: work hard, work smart. So, from a very young age, Robert has not only learned the value of diligence and hard work, but he has also discovered that it takes brains to become successful in the business world, and life in general.

Robert Kuok Hock Nien born October 6, 1923 in Johor Bahru, Johor. He is a Malaysian Hockchiu entrepreneur who made his money in sugar, palm oil, shipping, and property. He currently resides in Hong Kong. He was youngest of 3 brothers, Robert Kuok graduated from Raffles Institution, Singapore. He worked in the grains department of Mitsubishi, a Japanese industrial conglomerate between 1942 and 1945. After his father died in 1948.

In year 1949, Robert Kuok and his 2 brothers founded Kuok Brothers Sdn Bhd, trading in agricultural commodities. Under the new post-colonial government, Robert Kuok started in the sugar business alongside the government. He established the Malaysian Sugar Manufacturing Company in 1958 collaboration with Mitsui Bussan Kaisha Ltd and Nissin Sugar Manufacturing. In 1964, he built the first sugar mill Malaysia, Malayan Sugar Manufacturing with a monopoly of the government. In year 1961, Robert Kuok made a coup by buying cheap sugar from India before the prices shot up. He continued to invest heavily in sugar refineries, controlled 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, and so earned his nickname "Sugar King of Asia".

After achieving success in the business of sugar refining, Robert Kuok quickly moved into other businesses, and establish the largest flour mill in Malaysia. His company hold investments in other countries including Singapore, Thailand, China, Indonesia, Fiji and Australia. Business in China including 10 bottling company for cola-cola and ownership of the World Trade Center, Beijing.

In year 1971, Robert Kuok built the first hotel in the Shangri-La Hotel and Resorts Chain in Singapore. His foray into the Hong Kong property began in 1977, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront. Here, he built his 2nd hotel, the Kowloon Shangri-La. In 22 November 1985, Robert Kuok won the Golden Pyramid award that made him the Malaysian Entrepreneur for 1985.

In year 1993, Robert Kuok's Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation. After April 1, Robert Kuok officially retired from the Kerry Group and currently resides in Hong Kong.

He also holds a degree of influence in the political scene. He played a significant role as an intermediary in organising meetings between the Malaysian and Chinese governments to create complete diplomatic cross recognition between both countries.

According to Forbes his net worth is estimated to be around $14.7 billion on Feb 2012, making Robert Kuok the richest person in Malaysia and second richest in Southeast Asia after Dhanin Chearavanont of Thailand, according to Forbe's List of World Billionaires 2013 which Robert Kuok was placed 76th. As of December 2012, According to the Bloomberg Billionaires Index, Robert Kuok has an estimated net worth of 17.3 billion making him the 40th richest person in the world.

Sources:
1. http://malaysiafactbook.com/Robert_Kuok
2. http://en.wikipedia.org/wiki/Robert_Kuok
3. http://www.myworklife.my/interactive/malaysian-talents/robert-kuok/