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Character Of Entrepreuner Essay

997 words - 4 pages

Entrepreneurship is categorised as innovation and risk taking in order to succeed in a business, it is the capability and willingness to develop, organize and manage business venture along with any of its risk in order to make a profit. According to this case, entrepreneurship is evaluated to be an innovative skills which can clearly been seen in Hussain. He possesses such skill because he is able to produce an idea to sell books rather than to sell chocolates in the market. Innovation simply means introducing new ideas or methods in the business sector. This is because Hussain instead of waiting opportunity to come, he created his own opportunity. He was the first person to open a bookshop ...view middle of the document...

He also knew that his potential customers are schools and government departments because they need a lot stationary like papers, books and pens, therefore he took advantages by convincing them to buy educational goods from his bookshop. He managed to identify three problems, which could be summarized in three categories: managing customers’ orders in proper ways, avoiding travelling to Dubai and finding another outsource to import the product, and making use of the space of his big store. From here we can derived that he is able to understand and identify the problems he faced when his business was growing rapidly. Hussain is able to apply the great words of wisdom by Sun Tzu which is as said, in order to defeat your opponent; you must first understand your opponent.

Entrepreneurship is also known to be an ability to face the challenges and mould them into opportunities. Hussain had a desire to expand his business, he decided to ask for a bank loan but the bank rejected his application, but this impediment makes him to sell his bookshop and his pickup truck. He realise he is in need of money, instead of dwelling on the sad reply by the bank he find his own way of making money. Later on, he started a new company fully equipped with fax, telephone and two workers. His business profit growths dramatically from there on. Hussain made use of all the expansion that his son prepared in enhancing the new opportunity. His business order was well managed and he applied JIT techniques in his business. Due to the Hussain’s good knowledge, he took a high risk as he had some struggle in the company due to the low growth in sales, liquidity problem taking place, and many post-dated cheques returned due to inadequate fund. Hussain successfully investigated the matter and realized that recruitment was not fixed properly specially in the marketing department....

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