Question 1
What are the steps to be a good entrepreneur? Write your suggestion and recommendation based on your observation and experience in Malaysia.
1.0 Introduction
An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her husband, who were eager to change their ordinary life, took the plunge and sacrificed RM5,000 of their saving. Only then she realized that apart from managing the operation, she also had to be a manager, a clerk, an accountant and a receptionist. To grow their business, they had to sell their house and moved to a slum that came without electricity. But she persevered. Today, it’s difficult to find someone who has never heard of Securiforce.
From research, there have a many steps to be a good entrepreneur:
1. Experience in career
Those having experience in career employed and successful implement responsibility during the career usually were capable of doing business decision that is good compared them that green. This group also possess bright outlook to get capital and usually their effort never afford halfway. For example, Mydin is excellent example in this matter. Those who there is follow the talk surely have heard experience career.
2. Business planning
There are opinions stating tha...
... middle of paper ...
.... Retrieved on 26 February 2014.
Park, N., & Peterson, C. (2006); Methodological issues in positive psychology and the assessment of character strengths. In A.D. Ong & M. van Dulmen (Eds.), Oxford Handbook of Methods in Positive Psychology (pp.292-305). Oxford: Oxford University Press; available from [Book]. Retrieved on 28 February 2014
Peterson, C., (2006). A Primer in Positive Psychology New York, NY: Oxford University Press; available from [Book]. Retrieved on 3 March 2014
Forbes (2013); Why Entrepreneurs Need Good Mentors; available from [article].pp- 55-60.
Retrieved on 4 March 2014
Majalah Niaga(2013); Super Entrepreneur Tip: Do not Ever Stop Trying- edition 26; available from [magazine] pp 30-32. Retrieved on 7 March 2014
Saat Sulaiman; Usahawan cemerlang: tip dan panduan keusahawanan; available from [Book]pp 14-80. Retrieved on 9 March 2014
Larson, Reed W. “Toward A Psychology of Positive Youth Development.” American Psychologist 55.1 (2000): 170-183. Web. 12 April 2014.
“Seligman (1998) noted positive psychology’s focus is to make the lives of all people rewarding and to build positive experiences”(Costello & Stone, 2012). His concern and main focus was to train and support staff, faculty, and administrators of positive psychology approaches and overall, helping their students grow as learn...
Positive Psychology is the strengths and virtues a person or a community poses that lead to its optimal performance and allow it to thrive.This is a beneficial study that has the chance to improve the lives of many as well as preventing some negative situations. This review looks into what Positive Psychology is and how it impacts our lives. The sources I selected look into a broad overview of Positive Psychology, and it looks into deeper more specific aspects of Positive Psychology. This review has to lead me to believe that if we see ourselves and the future in a positive way it will have a positive effect on our lives.
Wong, P. T. (2011). Positive psychology 2.0: Towards a balanced interactive model of the good life. What to do about the negative?, 52(2), 69-70.
Martin Seligman and Mihaly Csikszentmihalyi defined actual theory of positive psychology in 1998 that looks at all attributes of a person’s psychology. Traditional psychology is not overlooked, nor does it replace it. Positive psychology is viewed as a form of therapy that simply looks at the positive rather than just the treatment.
An entrepreneur is an individual who is willing to develop, manage and organize an enterprise with the aim of profit making along with the risks involved. The word entrepreneur has its origin from the French word ‘entrepreneurs’ which means ‘to undertake’. In the business context entrepreneurship is the act of starting a business with the aim of making profits. According to Baumol et al.,. 2008, there are different types of entrepreneurs. Innovative entrepreneurs bring new products and services in the market and use new marketing techniques. On the other hand, replicative entrepreneurs bring new selling propositions to an existing market. Many capitalist societies encourage their citizens to start their own businesses to boost individual, as
It is interesting to note that the field of positive psychology, described by Seligman and Csikszentmihalyi (2000) as “a science of positive subjective experience, positive individual traits and positive institutions” (p. 5), has flourished over the last 15 years. This has been a time of relative peace and prosperity, conditions most would associate with contentment and joy, but also a time, as argued by Ryan and Deci (2001, p. 142), during which the more affluent among us may have discovered that financial security and material possessions alone do not necessarily equate to happiness. As Seligman and Csikszentmihalyi (2000, p. 6) explain, prior to World War II, making the lives of all people more productive was one of three aims of the field of psychology, the other two being to cure mental illness and detect and foster extraordinary ability. Following the war however, the economic benefit to psychologists of treating mental illness narrowed the focus of psychology firmly on repair rather than prevention. Psychologists came to see people as passive beings being acted upon by external stressors and it is this view that positive psychology aims to change. Sheldon and King (2001, p. 216) maintain that the field of positive psychology encourages psychologists to embrace a more unrestricted and valued perspective of human potential, hopes and strengths; a view also espoused by Seligman and Csikszentmihalyi (2000, p. 8) who suggest that the major psychological theories (psychoanalytical, behavioural and humanistic) have now been transformed by the bolstering of a new science of “strength and resilience” (p. 8). Much research therefore is currently focusse...
All of the sudden entrepreneurship is in the ride. The perception goes common that if the nation’s businesses, irrespective of the size can become more entrepreneurial then it will yield better productivity and compete more effectively and efficiently in today’s fastest growing world marketplace, Howard H. Stevenson and David E. Gumpert.
Richard S. Lazarus (2003) Target Article: Does the Positive Psychology Movement Have Legs?, Psychological Inquiry: An International Journal for the advancement of Psychological Theory, 14:2,93-109, DOI: 10.1207/S15327965PLI1402_02
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how
An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.
There stands many poems about entrepreneurs. The poem Entrepreneurship by Eric Niehoff presents the exact attitudes needed by an entrepreneur to attain success. “Creative and driven, bound to succeed, seeing opportunity, where others concede” (Niehoff).This illustrates t...
1. WHY? Develop your "why". As an entrepreneur, not all times you have in business will be perfect. In fact, there will be many, many difficulties along the way. However, if you can develop your why, you can achieve success. Your why must be this personal, passionate, emotional drive that keeps you going, when the world tells you to give up. It is the reason you commit and work so hard. Pushing on when it seems all the odds and world is against you. Your "why" becomes your driving will to wake up and do it again tomorrow.
Every entrepreneur endeavours to carry out their business venture with an expectation of achieving profit, success and competitive advantages in business arena. So, in order to define the term “entrepreneurship” it refers to such an individual who comes up with innovative and creative business ideas by which he or she can earn economical benefits from capital market (Baum et al 2014). Therefore, entrepreneurship is a process of evaluating effective ways by which an entrepreneur can easily combine the resources with market value, and that will be beneficial for the entrepreneur to gain huge success and profitability in business. Moreover an entrepreneurship also refers to such business activities which can create both monetary as well as non-monetary benefits for an entrepreneur. According to (Bohari et al 2013), an entrepreneur is a person who has the