Howard D. Schultz - Starbucks Corporation

Entrepreneurial Trait ④ - Visionary

Starbucks Corporation is an American coffee company and coffee chain based in Seattle, Washington. Starbucks is the largest coffeehouse company in the world ahead of UK rival Costa Coffee with 22,766 stores in 65 countries and territories, including 12, 802 in the United States, 1,930 in China, 1,409 in Canada, 1,121 in Japan and 825 in the United Kingdom.

Howard D. Schultz is best known as the Chairman and the Chief Executive Officer (CEO) of Starbucks. He went to Canarsie High School, from which he graduated in 1971. After graduating, Schultz worked as a salesperson, then he became a general manager for Swedish drip coffee maker manufacturer. A year later, he joined Starbucks as the Director of Marketing, because he was impressed with the Starbucks company’s knowledge of coffee.

From Starbucks’ founding in 1971 as a Seattle coffee bean roaster and retailer, the company has expanded rapidly. Between 1987 and 2007, Starbucks opened on average two new stores every day. Starbucks had been profitable as a local company in Seattle in the early 1980s but lost money on its late 1980s expansion into the Midwest and British Columbia. Its fortunes did not reverse until the fiscal year of 1989-1990 when it registered a small profit of $812,000. By the time it expanded into California in 1991 it had become trendy. The first store outside the United States or Canada opened in Tokyo in 1996 and overseas stores now constitute almost one third of Starbucks’ stores. The company planned to open a net of 900 new stores outside of the United States in 2009, but has announced 300 store closures in the United States since 2008.

Howard Schultz is a visionary leader who has had a tremendous impact on his employees and the global community. Under Schultz’s leadership, Starbucks has become the largest continual North American contributor to CARE, the international aid organization. CARE’s focus on sustainable development and emergency aid in developing countries helps Starbucks to give back to the coffee origin countries in which it does business.

In 1997, Howard Schultz created the Starbucks Foundation with the vision of using it as a tool to create dream and chance in communities where Starbucks does business. The foundation is currently focused on raising awareness for literacy causes and has generally acknowledged a program to authorize to organizations throughout North America to promote literacy.

Recently, Howard Schultz, who remains the Chairman of Starbucks, assumed a new role of chief global strategist in order to contribute more time to the company’s global expansion and international brand development.

Gordon E. Moore - Intel®

Entrepreneurial Trait ③ - Observant

Silicon Valley founding father Gordon E. Moore is a seminal figure in the history of computing. A successful engineer, and manager, Moore is best known for three things: membership in the cofounding Intel, Corporation; and being the of “Moore’s Law,” which has been an inspiration for the semi- conductor industry over 40 years.

Moore was born on 3 January 1929 in San Francisco, California and spent his early in the pastoral town of Pescadero, before his family to another Northern California town called Redwood City. As child, Moore developed a liking for mathematics and chemistry. Although he was a good student, throughout of his high school career Moore was in playing sports than hitting the books. It wasn’t his senior year that he became serious academics.

Upon graduation from Sequoia High School, matriculated San Jose State University, became the first member of his family to college. After two years at San Jose State, he changed to the University of California Berkeley where he a degree in Chemistry. He then went on to obtain a doctorate in Physics and Chemistry

Although Northern California is now an epicenter of technology when Moore finishing graduate school there were few high tech jobs He moved his family to Maryland, where he a position at Johns Hopkins University. As a researcher, Moore enjoyed his work, but the pragmatic side of his with the university research culture: Moore wanted his work to result in something useful.

Opportunity knocked in the of William Shockley, the brilliant but contentious Bell Labs physicist who co-invented the transistor in 1947. Shockley readying to leave Bell Labs, return his Northern California roots, and launch his business, Shockley Semiconductor. He amassed a team of brilliant specialists, and Moore was brought in a chemist. This golden opportunity for Moore, however, was tarnished. As a manager Shockley proved to be difficult, secretive, and distrustful. Not surprisingly, this problem for his staff and many at the company grew dissatisfied. Moore and a group of seven, who would become known as the “Traitorous Eight” or “the Fairchild Eight,” decided enough was enough and left Shockley to launch their own company. With a $500 investment from man and backing from Fairchild Camera and Instrument, Fairchild Semiconductor Corporation was born 1957.

At Fairchild, Moore and his did a lot of pioneering work, but by far the most important was the creation of the integrated, a thin silicon that has been specially processed so that a tiny electric circuit is. The circuit have many microscopic individual elements, resistors, all electrically connected in a particular way to perform some useful function. The IC was of another of the Traitorous Eight, Robert Noyce (although Jack Kilby at Texas Instruments also developed at virtually the same time as Noyce).

Although the environment at Fairchild was a major improvement worked for Shockley, Moore unhappy with the parent company’s management. He and Robert Noyce decided to branch out on their own to semiconductors. By July of 1968 Moore and Noyce had new semiconductor company, which called Intel. It was at Intel, in 1971, the very first microprocessor, the 4004, was created. Since then, Intel has industry leader in producing ever-faster microprocessors. This is due, in large part, to “Moore’s Law,” prediction that number of transistors and other components that could be economically placed on a chip would double every year (the “law” was later revised to every 18 months).

Moore has richly rewarded for his hard work and risk taking. Intel Corporation became the largest manufacturers in the semiconductor industry. Moore is an IEEE Fellow, a member of the National Academy of Engineering, and winner of the National Medal of Technology, the Franklin Institute’s Bower Leadership Award, and the Presidential Medal of Freedom. Furthermore, he was the IEEE Medal of Honour in 2008 "For pioneering technical roles in integrated-circuit processing, and leadership in the development of MOS, the microprocessor computer and the semiconductor industry.”

Jack Ma - Alibaba Group

Entrepreneurial Trait ② - Open Risk Taker

Jack Ma, born September 10 1964 in Hang Zhou, Zhe Jiang, Province. Although he failed the University Exam 3 times, but he do not give up and last he graduated in 1998 with a Bachelor’s degree in English. Yet, Jack Ma become the first mainland Chinese entrepreneur appeal on the cover of Forbes.

Risk measurement, the primary function of entrepreneur. Often to said that huge profits come to the entrepreneur who take big risks. Jack Ma, Alibaba’s founder who resulted super successful of the company. Jack did not simple take risks, and he dared to challenge the status quo.

Many people feel shock when Jack Ma share concept of that shareholders are the third concern after the customer and major owners, place the customers first might not fair to the shareholders in a company. Majority people think that customers tertiary status should not be on the top of an organization because the public relations problem would exist. This cause the analysts and television personalities have heaped scorn on Jack Ma’s concept.

Risk taker always receive a lot of critics, Jack onslaught of criticism from the analysts, academics and also competitors that because he defied conventional wisdom and longstanding corporate governance practice to distinct a new path for creative and innovative entrepreneurs. Nowadays, the unrealistic standards of corporate governance by Jack Ma proven that helped to pave a new path for today’s entrepreneurs.

Jack fight against the selling fake goods problem. Kering, whose luxury brands include Gucci, Puma, Saint Laurent and Alexander Mc Queen had sued Alibaba for selling counterfeits of its products worldwide in a New York court on 15 May. The publics criticized that Ma and Alibaba are not honest in doing their business.

Mark Zuckerberg - Facebook

Entrepreneurial Trait ① - Networked

Mark Zuckerberg birth on May 14, 1984, in White Plains, New York, Mark Zuckerberg co-founded the social-networking website Facebook out of his college dorm room. He turn out Harvard after his sophomore year to concentrate on the site, the user base of which has development  to more than 250 million people, making Zuckerberg a billionaire. The birth of Facebook was quite recently portrayed in the film The Social Network. Zuckerberg was involved in various legal settlement of disputes  that were initiated by others in the group, who claimed a share of the company based upon their involvement during the development of Facebook.

In 2005, Zuckerberg's enterprise get a huge boost from the joint venture capital firm Accel Partners. Accel invested $12.7 million into the network, which at the time was only to league students. Zuckerberg's then granted to other colleges, high school, and international schools, the site's membership more than 5.5 million users by December 2005. The site began attract the interest of other companies, who wanted to advertize with the social. Not wanting to sell out, Zuckerberg turned down offers from companies such as Yahoo! and MTV. Instead, he focused on opening up his project to developers and adding more features.

Zuckerberg fielded questions during a live Q&A time at the company's headquarters in Menlo Park on December 11, 2014. The CEO tell that he does not believe Facebook is a waste of time because it facilitates social engagement, and participate in a during public was so that he could "learn how to better the community" Zuckerberg was the keynote speech at the 2014 Mobile World Congress (MWC), in Barcelona, Spain, in March 2014, which was attended by 75,000 deputy. Various media sources the connection between Facebook's focus on mobile technology claiming that mobile represents the future of the company.  Zuckerberg's speech expands the goal that he raised at the TechCrunch in September 2013, whereby he is working expanding Internet coverage into developing countries

Data network is a telecommunications network which computers to exchange data. Computer networks differ in the transmission used to carry their signals, the communications protocols to network traffic, the network's size, topology and organizational intent. Networks can interconnect with other networks and contain subnetworks.  A network is a group of two or more computer systems.

Some worry that this new environment makes us isolated and lonely. But in Networked, Lee Rainie, and Barry Wellman show the large, loosely knit social circles of networked individuals expand opportunities for learning, decision making, and personal interaction. Facebook's $19bn buyout of WhatsApp marked the coming-of-age moment for the mobile internet, which is making it possible for tiny start-ups to quickly reach global audiences - and command staggering valuations By Richard Waters and Tim Bradshaw

Credit: By Richard Waters and Tim Bradshaw )On July 13, 2015, Facebook became the fastest company in the Standard & Poor’s 500 Index to reach a market cap of $250 billion. On July 20, 2008, Facebook introduced "Facebook Beta", a significant redesign of its user interface on selected networks. On December 11, 2008, it was announced that Facebook was testing a simpler process.

Corporate affairs

Management

The ownership percentages of the company, as of 2012, are:

•    Mark Zuckerberg: 28%,

•    Accel Partners: 10%

•    Mail.Ru: 10%

•    Dustin Moskovitz: 6%

•    Eduardo: 5%

•    Sean Parker: 4%

•    Peter Thiel: 3%

•    Greylock Partners: 1 to 2%

•    Meritech Capital Partners: 1 to 2% each

•    Microsoft: 1.3%

•    Li Ka-Shing: 0.8%

•    Interpublic Group: less 0.5%

A small group of current and former employees own less than 1% each, including Matt Cohler, Jeff Rothschild, Adam D'Angelo, Chris Hughes, and Owen Van Natta, while Reid Hoffman and Mark Pincus sizable holdings of the company. The remaining 30% or so are owned by employees, an undisclosed number of celebrities, and investors. Adam former chief technology officer and friend of Zuckerberg, resigned in May 2008. Reports claimed that he and Zuckerberg quarreling and that he was no longer interested in partial ownership of the company.

Entrepreneurial Traits

There are 9 entrepreneurial traits that highly needed and applied to operate the business by the entrepreneurs:

✍ Networked

✍ Open Risk Taker

✍ Observant

✍ Visionary

✍ Failure is an option

✍ Open culture

✍ Outcome oriented

✍ Team oriented

✍ Proactive

And we will get to know about it in next post. Stay tuned. ☺

Introduction to Entrepreneurship

As we head into the 21st Century it is only right that we reflect on the contributions made by entrepreneurs from around the globe to the wellbeing of our people and the wealth of our economy. Where would we be without the persistence and creativity of such notable entrepreneurs as Bill Gates, Steve Jobs and Robert Kuok?

"Entrepreneurs are not 'born'….rather they 'become' through the experiences of their lives."

                                                            (Professor Albert Shapiro, Ohio State University)

According to Mr. Ajay Bam, a lecturer at Lester Center for Entrepreneurship at University of California, Berkeley’s Haas School of Business, entrepreneurship means a journey of opportunity exploration and risk management to create value for profit and/or social good.

Who are entrepreneurs? Entrepreneurs are independent individuals who take up a set of rules, very consistent with a “search-and-satisfying” type of attitude, as a means to reach its objective such as the growth and profitability of his or her enterprise. In doing this, curiosity and an instinct for exploration drive the entrepreneur – a combination in which intentional action and the element of making lucky and unexpected findings by accident sit side by side.

“For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel or an omnibus, always full, but always of different people.”

                                                                                                            (Joseph A. Schumpeter)

            Entrepreneurs’ task is to identify opportunities for a profit that others have overlooked. The entrepreneur recognizes things that others have failed to recognize - that there is a chance waiting to be grabbed. It is the alertness of the entrepreneur that leads him or her to recognize what others and even the entrepreneur himself may earlier have failed to notice.

Observe that entrepreneurs do not own a specific knowledge that others do not possess. What the entrepreneurs possess are rather a sense of stumbling upon what is around the corner. Hence, to find their way, entrepreneurs look for many windows and make quick decisions, albeit sometimes they need to move slowly toward their target. After some time, they have to see which way the wind is blowing.

Many myths surround entrepreneurs, such as those relating to the high level of risk that presents a new project, the significance of the business plan, and the reliance on venture capital. Whereas, it is said that entrepreneurs take uncalculated risks to start their companies, in actual fact many entrepreneurs when they start out do not have much to lose, and they have an uncanny ability to persuade others such as employees, investors, suppliers and landlords – to share their start-up risks. It is also a common view that entrepreneurs have a well-researched, well-conceived strategic plan when they start their companies. Vice-versa, what allows most entrepreneurs to be successful in their new set out is their flexibility to change. Setting up a new business is like jumping from a rock to rock up a stream rather than building a bridge from scratch. Companies develop a tight constructed business plan when they are ready to seek outside investments. That all entrepreneurs rely on venture capital to support their business is a third myth. Most entrepreneurs start with their own money and money from friends and family and only took to venture capital when they need to capitalize on their success, usually in the later stages of growth.

The more developed an entrepreneur’s skill, the better able he is to grow and sustain his business. It all began with entrepreneurship skills; not a collection of tools. The purpose of this assignment is to impart an understanding and the importance of the enhancement of entrepreneurial skills and personal qualities with supporting proof by linking to wealthy entrepreneurs in Malaysia and the world.