Based onthe concept that I had learned from Entrepreneurship, I learn how to delivervalue proposition to its targeted customers through different channels. Effectivechannels will distribute a company’s value proposition in effective and fastways. Marketing channels such as through newspaper, radio and television andmedia like Facebook and Amozon. Thefirst decision to be made when trying to sell products or services to thetarget market whether directly or through intermediary services. Nowadays,Berjaya Media Berhad use online to update their latest news.
Consumers canthrough www.thesundaily.my,this website to read the latest national andinternational news. BerjayaGroup Berhad apply the tools like SWOT strategy in analyzing and developing newbusiness models and strategies.
SWOT Analysis is a useful technique for understanding ourcompany’s Strengths, and Weaknesses, and for identifying both the opportunitiesopen to us and the Threats we will be face. Strength and Weaknesses are ofteninternal to our organization, while opportunities and threats generally relateto external factors. Company can use this strategy to identify what theweakness for products and services that provide by the competitor company andwe can try to improve it in our new products. This can help us to compete withcompetitor. This strategy allow the entrepreneur to understand each of thestrategies easily.
This give company convenience to display their strategies. Every people have the chance tobecome an entrepreneur. To be an entrepreneur is not difficult matter, but to becomea successful entrepreneur is difficult. A successful entrepreneur will alwaystake hard work and persistence to achieve a desired achievement in theirbusinesses. If an entrepreneur decides just to stand at the current step, thenthey may be override by other competitors. So, if want to be a successfulentrepreneur, they have to challenge themselves.
In order to maintain themarket position, entrepreneur has to meet a lot of challenges and willing totake risks. Entrepreneur must have the driven tolearn something new and adapt to new processes and technology that can maketheir business stronger and more efficient. If they are passionate about whatthey do, they will not feel that putting in long hours for their business willfeel like sacrifice their time. Each entrepreneur will have their owncriterion. Most of the criterions which can be found from majority of the entrepreneurs are creativity, initiative, ability to learnfrom mistake, right attitude, perseverance, passion and proactive. Everyentrepreneur will have different entrepreneurial features. Therefore, we shouldnot simply do the comparison between those successful entrepreneurs.
Theentrepreneur that I choose is Vincent Tan. He has fulfill the entrepreneurialtraits such as versatility, time competence, power of conviction and foresight.The family background of Tan Sri Vincent Tan stimulates him to fight for hisown future. He is an admirable person as he builds his own success by his own.He fights off the challenges that he faced during his journey of developmenthis business successful.
He never gives up and until today, he has become asuccessful entrepreneur. His success has brings a lot of prosperity to hisfamily. Before that, he faced financial crisis when he was kid, but now he hasbrings much of the assets to his family. So, now his generation will not facethe financial crisis that he met before and they can further their studies atoversea. It also a way that can help to fulfill vision of Tan Sri Vincent Tanthat he cannot achieve when he was young before. To be a successfulentrepreneur means that when they are making decision they have learned tolisten to their instinct and depends on their wisdom and knowledgeable.
Whenentrepreneur are believe in and trust themselves, it shows that they areconfidence. Majority of the people are more likely to follow and have faith in confidentleader as leader can lead them to overcome all the possible obstacles and gainprofit instead. When entrepreneur feel uncertain or facing problems, there’snothing wrong with asking help from people or find a mentor for advice, butalso have to learn to trust yourself and your own judgment without input fromothers. Every entrepreneurs must learn to trust themselves as they are alreadystarting the journey of entrepreneurial success. Last but not least, tobecome an entrepreneur is not difficult but being a successful entrepreneur isdifficult. A successful entrepreneur should be open minded to consider all thefactors that will bring the advantage and disadvantage to their business.
Whenentrepreneurs are making the decisions they should take count on all the consideration. Asuccessful entrepreneur can overcome all the risks they faced and take thisobstacles as an opportunity to develop their business. Normally people take obstacles as a barrier fromsuccess but actually obstacles can give us experience when we are planning torun our business.
So, entrepreneurs must accept the obstacles openly andsincerely.