Entrepreneurs in Malaysia
Entrepreneurs are innovators or developer who recognizes and seize opportunities; converts those opportunities into a workable/marketable idea; adds value through time, effort, money or skills; assumes the risk of the competitive marketplace to implement these ideas and realizes the rewards from these efforts (Kuratko, 2009). Based on this explanation, we can assume that entrepreneurs are people who take risks and efforts to venture into a new business. In order for them to take such risks, they need to have certain characteristics; entrepreneurship characteristics.
There are many characteristics that are attributed to entrepreneurs. There is not a set list of characteristics that an entrepreneur should have. According to Dr. Donald F. Kuratko’s definition of entrepreneurship characteristics, there are 17 attributes related to an entrepreneur. They are:- * Commitment, determination and perseverance * Drive to achieve * Opportunity orientation * Initiative and responsibility * Persistent problem-solving * Seeking feedback * Internal locus of control * Tolerance of ambiguity * Calculated risk taking * Integrity and reliability * Tolerance for failure * High energy level * Creativity and innovativeness * Vision * Self-confidence and optimism * Independence * Team building
(Kuratko, 2009)
According to Professor Jeffry A. Timmons, there are 20 attributes of characteristics that are related to an entrepreneur. They are:- * Total commitment, determination and perseverance. * Drive to achieve and grow. * Orientation to goals and opportunities. * Taking initiative and personal responsibility. * Persistence in problem-solving. * Verdical awareness and a sense of humour. * Seeking and using feedback. * Internal locus of control. * Tolerance of ambiguity, stress and uncertainty. * Calculated risk taking and risk sharing. * Low need for status and power, *
There are many characteristics that are attributed to entrepreneurs. There is not a set list of characteristics that an entrepreneur should have. According to Dr. Donald F. Kuratko’s definition of entrepreneurship characteristics, there are 17 attributes related to an entrepreneur. They are:- * Commitment, determination and perseverance * Drive to achieve * Opportunity orientation * Initiative and responsibility * Persistent problem-solving * Seeking feedback * Internal locus of control * Tolerance of ambiguity * Calculated risk taking * Integrity and reliability * Tolerance for failure * High energy level * Creativity and innovativeness * Vision * Self-confidence and optimism * Independence * Team building
(Kuratko, 2009)
According to Professor Jeffry A. Timmons, there are 20 attributes of characteristics that are related to an entrepreneur. They are:- * Total commitment, determination and perseverance. * Drive to achieve and grow. * Orientation to goals and opportunities. * Taking initiative and personal responsibility. * Persistence in problem-solving. * Verdical awareness and a sense of humour. * Seeking and using feedback. * Internal locus of control. * Tolerance of ambiguity, stress and uncertainty. * Calculated risk taking and risk sharing. * Low need for status and power, *
References: Donald F. Kuratko (2009) Introduction to Entrepreneurship. 8th ed. Asia: South-Western. C. Henry, F. Hill, C. Leitch (2003) Entrepreneurship Education and Training. Great Britain: Ashgate Publishing Limited. Anon. (2007) Tony Fernandess [Online]. Malaysia: AirAsia. Retrieved from: http://www.etawau.com/Who/T/TonyFernande.htm [Accessed 20th October 2010]. Jeff Chu (2007) The $3 Flight [Online]. Malaysia: Portfolio.com. Retrieved from: http://www.entrepreneur.com/growyourbusiness/portfoliocombusinessnewsandopinion/article185664.html [Accessed 20th October 2010]. Anon. (2007) Tony Fernandes [Online]. Malaysia: Wikipedia. Retrieved from: http://en.wikipedia.org/wiki/Tony_Fernandes [Accessed 20th October 2010].