BACHELOR OF BUSINESS ADMINISTRATION WITH HONOURS

SEMESTER 3 / 2022

MPU3223_V2

ENTREPRENEUSHIP 2

MATRICULATION NO: 940327025315001

IDENTITY CARD NO. : 940327-02-5315
TELEPHONE NO. : 017-5397005
E-MAIL : jessonkim@oum.edu.my
LEARNING CENTRE : Seberang Jaya

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CONTENT LIST

BIL CONTENT PAGE

1.0 Introduction 3
2.0 Part 1 - Discuss the characteristics of successful entrepreneurs 4
in Malaysia
2.1 Introduction of businessmen & their organization
Robert Kuok Hock Nien 4-5
Syed Mokhtar Al-Bukhary 6-7
2.2 Quality characteristics of entrepreneurship 8-10
2.3 Characteristics possessed by selected businessmen
Robert Kuok Nien’s characteristics 11-12
Syed Mokhtar Al-Bukhary’s characteristics 13-14
2.4 Characteristics that contribute significantly to the success of the
selected businessman.
Robert Kuok Hock Nien 15-16
Syed Mokhtar Al-Bukhary 17-8
3.0 Summary 19
4.0 Reference 20
5.0 Part 2 - Online class participation 21-23

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Introduction

Businessman and Entrepreneur

It is a common assumption that businessman and entrepreneur are the same, but both
words refer to a different individual possessing a distinct approach to business. to put
is in other words, a businessman follows a set path engraved by some other person
with an unoriginal idea, whereas an entrepreneur thinks and believes in making his
own path with new ideas.

In the future, an entrepreneur can become a businessman. However, between

businessman and entrepreneur, there is a thin line difference businessman is a market
player, whereas, the entrepreneur is a market leader. In the below article, we will help
you understand the differences between businessman and entrepreneur.

Who is a Businessman?
A businessman is an individual who operates or starts a business with the same old
business idea. The businessman chooses to do business that is high in demand or give
him maximum profits in return. The firm faces stiff competition because many
companies already exist in the market having the same business ideas. However, the
risk factor is very less as the concept has been tried and tested by other existing
companies, so the chance of failure is low.

Who is an Entrepreneur?
An entrepreneur is an individual who has an exclusive idea to initiate and establish a
new venture and bring a change in the world. An entrepreneur is highly creative and
innovative, takes a risk and endures the unpredictability of business. The business
started by entrepreneurs with a new concept for the first time is known as Start-up.
The entrepreneur is an integral part of the operation, who builds and deploys the
other functions of the operations i.e. labour, land, and capital. Later in the future, the
entrepreneur becomes a businessman.

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Part 1-Discuss the characteristics of successful entrepreneurs in Malayisa

2.1 - Introduction of businessmen and their organization

Name: Robert Kuok Hock Nien
Age: 98 years old
Industry: Hotels, real estate & commodities
Known works: Shangri-La Hotels and Resorts, Cheras LeisureMall, The LINC KL

If there really is a real sugar daddy, it’s Robert Kuok. Not because he is a Casanova
or some sort, but simply because the sugar business made him a celebrity business.
Robert Kuok Hock Nien was born in October 6, 1923, in Johor Bahru and he was the
youngest among three brothers. He is an influential Malaysian Chinese businessman.
According to Forbes his net worth is estimated to be around $9 billion, making him
the richest person in Southeast Asia.

Most of his businesses are privately held by him or his family. Apart from a
multitude of enterprises in Malaysia, his companies have investments in many
countries throughout Asia. His business interests range from sugarcane plantations
(Perlis Plantations Bhd), sugar refinery, flour milling, animal feed, oil and mining to
finance, hotels, properties, trading and freight (International Shipping Corporation,
Transmile Group) and publishing.

Just like Boon Siew and Lim Goh Tong who migrated from China, Kuok's father
arrived in Malaya from Fujian, China at the beginning of the 20th century. And unlike
the late Boon Siew and Goh Tong, Kuok is one educated wealthy man. He received
his early education in an English school and later enrolled into the Raffles College in
Singapore, with Lee Kuan Yew as one of his school mates. He had a short stint
working with Japanese company, Mitsubishi after his studies in Raffles was halted
due to Japanese invasion, before helping his father with trading business.

After his father’s death, Kuok and his two brothers made a decision to continue the
business legacy, starting with sugar distribution and a few other commodities under
the new post-colonial government. Their business skills were picked up from their

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father, who was an avid trader. In 1961, he made a coup by buying cheap sugar from
India before the prices shot up. Kuok’s massive involvement in sugar industry
allowed his company to become the government’s supplier and Kuok opened up
sugar refinery plants to grow it further. At the peak of his business, he was controlling
as much as 80% of the Malaysian sugar market with production of 1.5 million tonnes,
equivalent to 10% of the global export market, and so earned his nickname "Sugar
King of Asia".

Driven by the success of his sugar business, Kuok swiftly expanded his business
into flour milling, shipping, logistics, oil and gas and hotels. His rise to success, fame
and prominence is attributed to both his expertise in spotting opportunities and his
strong network with the big, corporate and government people. In 1971, he built the
first Shangri-La Hotel in Singapore. His foray into Hong Kong property was in 1977,
when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East
waterfront, where he built the second hotel, the Kowloon Shangri-La. Kuok controls
the Shangri-La hotel chains and is the largest shareholder of Transmile Group
Berhad, which was involved in accounting irregularity scandal in 2007, plunging
down the share price. Besides that, his Kerry Group acquired a 34.9% stake in the
South China Morning Post from Murdoch’s News Corporation in 1993.

His companies have investments in many countries, including Singapore, Thailand,

Mainland China, Indonesia, Fiji and Australia. Businesses in China include 10
bottling companies for Coca Cola, ownership of the Beijing World Trade Centre.
His political influence is attested by his having been selected as one of the advisors
on Hong Kong’s future in the run up to the transfer of sovereignty of Hong Kong, and
his minority stake in CITIC Pacific. He was also instrumental in conveying
information and setting up the meetings between Malaysia and China governments
leading to full diplomatic cross recognition of the two countries.

Kuok has married twice and has eight children. He officially retires from the Kerry
Group on April 1, 1993. Nowadays, Kuok Khoon Ean, one of the Robert’s sons,
handles most of the day-to-day operations of his business. He is residing in Hong
Kong currently.

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Name: Syed Mokhtar Al-Bukhary
Age: 71 years old
Industry: food, manufacturing and shipping
Known works: MMC, Pelabuhan Tg.Pelepas, Bernas

Syed Mokhtar Al-Bukhary is the Chairman of the AlBukhary Corporation.  Born in

1952 in Alor Setar, Malaysia, he grew up in a financially struggling family of traders.
Due to a lack of funds his highest level of education was Form 5 (essentially high
school).  In the 1960s he assisted his parents with their cattle business until a disease
outbreak compromised their livestock.  Afterwards, he turned attention to his own
entrepreneurship.  In the early 1970s he obtained a loan from the government to start
a lorry business.  In 1974, he bought a shop house under a hire-purchase agreement
with Urban Development Authority of Malaysia (UDA). The next year, he obtained a
rice-trading license and founded Shah Company, a rice supplier.
 
Over the next decade, he began networking with United Malays National
Organization, a political party.  His connections enabled him to win land deals as well
as infrastructure and privatization contracts.  However, he made his first significant
earnings during the 1990s stock market boom in Malaysia.  He bought stocks then
sold them at a premium, which provided him with the money he needed for his first
large-scale business venture – the purchase of the main port in Johor from the
government.  In 1996 he convinced Kuala Lumpur to give him the rights to overhaul
it; however, the next year he ran out of money, halting construction.  He used his
contacts to get the Finance Ministry to restart the project; it directed a state
investment firm to purchase a 40% stake in the operation.
 
By 2000, the port, called Tanjung Pelepas, was completed and functioning.  Syed
sought business partners, and negotiated with Danish shipper Maersk Sealand
International for a 30% interest and the right to manage the port’s operations.  Prior to
closing the agreement, he reacquired the government’s 40% stake; he then turned
around and sold the 30% interest to Maersk for approximately 730 million ringgit in
2001, making a profit of more than 200 million ringgit.  Over time Syed’s wealth
grew as he diversified his business interests into other areas such as engineering,

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media, and banking.  
 
Syed has gained a controlling interest in many major local firms; his portfolio is
largely driven by three investment vehicle companies.  MMC Corporation Berhad,
DRB-Hicom Berhad, and Tradewinds Berhad.   MMC Corporation Berhad’s primary
activities involve energy and utilities, airports, ports and infrastructure, and
engineering and construction. MMC manages the operations of Tanjung Pelepas,
which is Malaysia’s largest container terminal. It has established itself as a leading
player in the industry with several key developments including the Stormwater
Management and Road Tunnel (SMART) motorway, the first-of-its-kind, dual
purpose tunnel in the world.
 
Syed Mokhtar Al-Bukhary believes that his success has given him an imperative to
give back.  Consequently, in 1996 he established the Albukhary Foundation.  Its
mission is to forge a more equitable and tolerant world through initiatives that bridge
the divide between the haves and have-nots, as well as between Muslim and non-
Muslim worlds.  Initially the organization was focused on his home country of
Malaysia; however, as his business reach grew and he gained more of an international
presence, its scope expanded to four continents: Asia, Europe, Africa, and Australia.
 

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2.2 - Quality Characteristics of Entrepreneurship

Great entrepreneurs come from all walks of life. In Entrepreneurship Essentials, it’s
noted that “there’s no single personality profile, and it’s important to pay attention to
the entrepreneurial team, rather than focus on the individual.”

There’s no single personality profile that describes every successful entrepreneur;

however, certain characteristics are particularly important when it comes to starting
and leading a venture.

Entrepreneur characteristics are qualities that help entrepreneurs achieve their goals.
An entrepreneur is someone who creates, organizes and runs their own business.
Examples of entrepreneurs include:

Online business owners: Online entrepreneurs include bloggers, e-commerce or any

business owner who performs commercial activities mostly online.
Home-based business owners: Home-based entrepreneurs run their business from
their home as opposed to offices.
Inventors: Inventors are entrepreneurs who build their idea and sell it on the market.
Small business owners: Small businesses employ less than 500 employees.

In every case, entrepreneurship involves innovating new ideas, putting them into
action and persevering through challenges. Some entrepreneur characteristics are
natural personality traits, but there are also skills and characteristics you can cultivate
through practice.

1. Creativity
Becoming an entrepreneur starts with an idea. You need to see opportunities, find
innovative ways to do things and bring solutions to the public.
2. Passion
Passion is what drives entrepreneurs. They usually love what they do, and this helps
them invest their time in their projects.

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3. Motivation
Motivation is the will to accomplish certain things. Entrepreneurs are driven to make
their business a success and push themselves..
4. Product or service knowledge
Entrepreneurs know what they have to offer and to whom they can sell it. Clearly
define the category of products or services you sell and how they provide value to
consumers. Also, study your target clients to make sure you answer their needs.
5. Ability to network
The ability to connect with people and to recognize opportunities for partnership is
crucial to successful entrepreneurship. Meeting new people might facilitate access to
resources or knowledge that your business needs. It allows you to learn from the
success of others, promote your services or goods and meet new clients.
6. Self-confidence
Entrepreneurs believe they can achieve their goals. They may have doubt, but they
persevere through it. Self-confidence is essential because it allows you to feel better
and makes it easier to overcome challenges, take risks and be persistent.
7. Optimism
Entrepreneurs are dreamers with a plan in place: They see the positive side of the
situation and always move forward. Optimism supports creativity, so it helps business
leaders finding new ideas for their products or services and increases their chances of
success.
8. Vision
Entrepreneurs have vision. They see a big picture they wish to accomplish, which
fuels their efforts and pushes them to do more. Moreover, vision is what defines the
culture and identity of an organization. Not only does it keep entrepreneurs energized,
but it allows them to motivate others and keep them working towards the company's
success.
9. Goal mindset
Entrepreneurs are goal oriented. They know what they want to achieve, set a goal and
work toward that objective. Determination is vital to overcome possible challenges,
and it also inspires trust from the people who work with you.
10. Risk-taking
Entrepreneurs are ready to take risks. They plan for the unknown so they can make

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11. Persuasiveness
Entrepreneurs know their business and how to talk about it to people. They need to
persuade others to believe in their idea.
12. Decision-making
Entrepreneurs need to make quick decisions and take action for the success of their
business.
13. Tenacity
Entrepreneurs overcome challenges. They persevere through difficulties and hold on
to their goals and dreams.
14. Money management
Entrepreneurs need to understand the financial situation of their business. Even if
they hire a specialist like an accountant, they are the decision-maker and must know
their situation to run the business successfully.
15. Adaptability
When they start a business, entrepreneurs often need to multitask. Flexibility in your
schedule, as well as in your thinking, is crucial to continue growing in challenging
situations.

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2.3 - Characteristics possessed by businessmen

Robert Kuok Hock Nien’s characteristics

 
1. Risk Taking
Kuok almost became bankrupt in 1963. He made a prediction that didn’t turn out in
his favour, which caused him a huge financial loss. “I got too ambitious and stocked
up 100,000 to 200,000 tonnes of sugar to cater for the future market. I thought the
market would grow and I can make big money, but the market fell sharply in July and
August.” However, things soon picked up for him because a typhoon caused the
granulated sugar production in Cuba to become crippled. “At the end of August, a
severe typhoon hit Cuba and caused catastrophic damages to the sugarcane
plantations,” Kuok said. This in turn spiked the international sugar price, and Kuok
was able to sell his sugar for a good price again. At the end Cuba was producing 5.5
million tonnes of sugar annually and was one of the major players in the industry at
that time.
 
2. Product or service knowledge
Success is 90% hard work and knowledge. Always keep ourselves up to date with the
latest information and study an issue from different perspectives. For instance, in the
sugar business, Kuok studied about the demand, supply, production, consumption,
and the shipping process in order to stay on top. 

3. Self confidence
“Every business has its own risks. It’s okay to back down and miss the opportunity IF
there’s a better one in the near future. But if you’re not bold enough and retreat every
single time, then you will always be poor.” 
So, be brave and take risks!
 
4. Tenacity
When he first started trading in rice, there were about 40 relatively large rice
merchants in Singapore and Malaysia. They achieved success by leaps and bounds,
but it was all short-lived.

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“Some of them instructed their workers to spill sea water on sacks of sugar, and then
seek compensation from the insurance company. The tens of thousand dollars
claimed was used to subsidise their operating cost.”
“We knew about their dirty tactics but we didn’t complain about it. Instead, we just
kept working hard.”
 
5. Vision
For example, in April 1973, China was facing a severe shortage of money and sugar.
Two Chinese high-level officials from the Ministry of Foreign Trade had secretly
asked a favour from Kuok. They needed 300,000 tonnes of sugar, which is equivalent
to one million tonne of sugar today. The request had to be kept confidential because if
it’s leaked, the insane demand would spike the international sugar price.
Kuok only had small amount of sugar in his inventory at that time, so he sent a few
employees to Brazil to buy huge amounts of sugar. At the same time, Kuok registered
himself for the upcoming  international sugar conference in Geneva, Switzerland to
counter the rumours that he’s stocking up sugar in Brazil. Thanks to his quick
thinking and action, he managed to stock up sugar from Brazil, London, New York,
and Paris. True enough, the price started rising days after Kuok’s employees signed
the contract with the Brazilian government as the news have leaked out.

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Syed Mokhtar Al-Bukhary’s characteristics

1. Tenacity
Tan Sri Syed Mokhtar had experienced a business failure when livestock undergo
bankruptcy. Nevertheless, he continued to rise by trying other businesses and finally
get a huge success on it. This success adds his enthusiasm and confidence to develop
themselves in the business world.

2. Observant
Tan Sri Syed Mokhtar has been watching and appreciating science practiced by his
father's business. This was because he had watched his father dealing with suppliers
of cattle and buffaloes from Thailand. This allows him to learn a little bit of business
processes. Tan Sri also wise in choosing the underlying business sector. This is
because, he wisely observes expanded needs at a specific time. At first, he was
involved with necessities such as rice and sugar. Later, he was involved with
shipping, in line with current needs.

3. Proactive
Tan Sri Syed Mokhtar managed to find opportunities that exist in the business
environment. In addition, he was also careful in doing business. He has many
personal characteristics and superior should be emulated by all parties. He is always
looking for any business opportunities that exist and will try to tap into those
opportunities. For example, he has entered into various sectors, where it has nothing
to do with each other. He had entered the food industry, manufacturing, shipping and
more. Therefore, he continues to be proactive in going into business. Successful
entrepreneurs are entrepreneurs who are always proactive in every action taken.

4) Vision
Tan Sri Syed Mokhtar has a vision to improve the living standards of their families.
Patience and perseverance through various obstacles to become the main reason for
his success. He is also a man with a vision. This is because, he is willing to donate his
wealth to the poor and religious and contributed a lot for charity purposes. Therefore,
he has set up Yayasan al-Bukhary to help the poor, especially in the field of

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education. Until now, Yayasan al-Bukhary has spent more than RM300 million for
religious, cultural and educational. Among the major projects undertaken are the
construction of complex al-Bukhary costing RM400 million in Kedah.

5. Risk taking
Tan Sri Syed Mokhtar Al-Bukhari took a risk when he dabbled in business. He was
courageous to initiate steps in the business such as rice, sugar and others. He said to
take the risk because he did not have a lot of knowledge about the underlying
business sector. With the daring nature to bear the risk, the underlying business. He
has successfully diversified its business without relying on the sale of the business
only.

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Characteristics that contribute significantly to the success

Robert Kuok Hock Nien

Politics and Business are Inseparable
 One of his brothers, William advised him "You have to get interested in politics.
If you get big in the business-world, politics will not leave you alone."
 Robert realized he was right and admitted that "Politics and economics are
indivisible; politics and life are inseparable."
 Robert also said "I very often talk politics in business. That's why I am what I
am. I feel that the two are indivisible, and my partner had better know how I feel
about life. Otherwise, how can any partnership last?"

You Must Work Hard in Life

 As a young man, Robert believed that there was no substitute for hard work. He
said, "I never had a day's rest, except for my 1947 honeymoon to Hong Kong
with Joy, and a six-month trip to Europe with Mother in 1951. I worked everyday
of my life, including Sundays."
 "Man must work; work is therapeutic, it binds your mind and body together.
When you work, you wake up earlier than everybody; you go to bed earlier than
everybody because you need to recharge your batteries. You're are not wasting
your life away."
 “I believe man should gradually acquire wealth, working hard. By gradually
acquiring it, he knows the meaning of thrift and how to conserve wealth.”

Focus on the Basic

 Robert focused from the beginning on commodities with very ready markets:
basic foodstuffs such as rice, sugar and wheat flour.
 As he said: "One thing I learned from the Japanese is that you should focus on
products for which there are large, established markets, and for which demand is
uniform and sustainable."
 "Basic process food such as sugar and flour have virtually no variation. There is
basically only one product, which greatly simplifies factory investment."
Plot Your Next Move while People are Wasting Their Time Away

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 In Kuala Lumpur circa 1953, most real businesses were conducted in clubs called
'messes' during cocktail hours. Men lounged around, and the girls sat with them.
 Robert feels it was a decadent culture, and many of the Chinese businessmen in
Kuala Lumpur would be in these Clubs every night. He said, “People were
drinking themselves stupid.”
 "While these people play on their banjos, I can plan, plot and drive my business
plans forward."

Learn by Observing How Others Do It

 From 1953-1958 Robert made numerous trips to Bangkok to meet rice traders
and learn first-hand how the Chinese did their business there.
 Robert said, "I watched their ways, observing their faults and mistakes, and
vowed to myself to never commit the same errors."
 “I don't believe a man can become a successful businessman merely by reading a
book. I think it's better to observe the falling leaves than to read someone else's
advice.”
 In the 1960s and the first half of the 1970s, Robert spent a lot of time in excellent
European hotels. He said, "My mind took mental photographs of everything I
saw and experienced - various physical comforts and discomforts and, of course,
service qualities."

Be Resilience and Find Solutions to Problems instead of Worrying about them

 “The road to success is paved with challenges, and, with each test of failure, a
man must show resilience.”
 “Worrying never provides the solution to a problem. In fact, worrying
exacerbates the problem. It weakens the mind and eventually the physique to the
point where people die from frustration, from worrying about their failure.”
 “Problems must not be seen as brick walls. You can walk through a problem.
Penetrate it and go on to the other side; forget it and start life afresh.”

Perspective on the Ultimate Goal in Life

 “I believe the ultimate goal in life should be to adopt moral values and to
emphasize morality in all actions, so as to achieve a more fair and just world.”

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Syed Mokhtar Al-Bukhary
Work hard to succeed
“I am ashamed because the Chinese are hundreds of times richer in our land
Malaysia. This is Malaya. But I know Malays, if they want to succeed, they have to
work hard day and night. We have the strength that God gives us over other nations.
But to progress we have to work.”

Don’t be ashamed
“I originally did not know anything. Everyone who wants to succeed and has
succeeded originally starts from zero (reset to zero). What I don’t know, ask for help
from someone else. I’m not ashamed. I’m not stealing. I’m my own business. This
lazy and shy attitude that the Malays have to overcome. We have to be brave because
it’s true. When we get more profit and sustenance, we can help people.”

Wisely look for opportunities

“I need to continue to look for opportunities so that I can continue to help other
develop themselves. I’m not doing all this for myself done.”

Be confident & don’t be afraid of yourself

“Many people believe that he must have RM 10 million or Rm 20 million in new
hands to live safely. This is what causes them to drift away from helping others. They
are more afraid of themselves. They forget that wealth cannot help forever.”

Nothing is impossible
‘There is no reason why Malays cannot progress. We must have the courage to fight
our own enemy, which is lust. Lust will always lead to negative things. Turn it into a
positive. So, you have succeeded in fighting your lust. If you become journalists, you
have to cultivate the spirits one day to take over the newspaper. There is no reason
why it cannot happen.”

Persevere, diligent and not easily give up

“The success and weakness of the Malays is not due to due race and our religion. It
has to do with our attitudes and the way we think. Perseverance, diligence and not

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giving up easily are the keys to success. But this matter lacks in the way the Malays
think.”

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3.0 Summary
As conclusion, entrepreneurs are those who innovate, willing to take risks and
generate new ideas to create solution for future problems. They are also able to help
the organization has matured and established new organization in taking chances.
Entrepreneur also is a catalyst for development and economic growth of a country.
Forward and backward economy of a country is dependent on a dynamic
entrepreneur and visionary. They are a unique individual and different from ordinary
human. Entrepreneurial traits that exist in individual entrepreneurs not only able to
develop their own self-entrepreneurs, but also responsible for the development of
society and state. We can conclude that the success entrepreneur should have all this
nine traits in their business, with this traits, they can improve their business to make
sure that their business always growth and reach the global market.

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4.0 Reference
1) Al Bukhary Character Analysis http://www.ipl.org/essay/Al-Bukhary-
Character-Analysis

2) (2016 Nov 07) Successful Entrepreneur

http://uniutamaentrepreneur.blogspot.com

3) Kenali Tan Sri Robert Kuok: orang paling kaya di Malaysia

https://dailyrakyat.com/kenali-tan-sri-robert-kuok-orang-paling-kaya-di-malaysia

4) (2014 Nov 11) Robert Kuok Hock Nien

https://www.studymode.com/essays/Robert-Kuok-Hock-Nien-62879098.html

5) (2009 Jul 31) Lessons From The Sugar King

https://redboxstudio.com/2009/07/lessons-from-the-sugar-king/

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5.0 - Part 2 Online class participation

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