UNIVERSITI KUALA LUMPUR BUSINESS SCHOOL
PRINCIPLE OF MANAGEMENT
GROUP MR76
Sunday, 17 December 2017
Monday, 4 December 2017
Sunday, 3 December 2017
SUCCESSFUL STORY OF VIVVY YUSOF
Another success story from Malaysia is that of Vivy Yusof. Like Neelofa, she spotted a gap in the Muslim fashion market. The popular 29-year-old blogger used her social following to grow FashionValet, an e-commerce site carrying leading designer labels from around Asia as well as her own brand of scarves and branded accessories catering to style-savvy young Muslim women.
She and her husband, Fadzarudin Anuar, started Fashion Valet (FV) in 2010, a fashion, e-commerce site that brings homegrown, high-end designers closer to consumers. Back from studying in London, Yusof and Anuar got frustrated during a shopping trip – driving from shop to shop, in heavy traffic under the rain. It was that kind of inconvenience that sparked the idea of bringing online shopping to Malaysia.
Yusof approached designers, asking them to create ready-to-wear pieces for FV. "They were skeptical at first but I urged them to try. I basically introduced the idea because RTW for designers was not that big in 2010," she said. From a MYR100,000 ($24,195) capital, 10 designers and a staff of 20, FV grew to 500 brands and hundreds of staff in just six years with offices in Kuala Lumpur, Singapore, and Jakarta.
It's here that Yusof is choosing to innovate with her brand, capitalizing on the rise in number of women donning the hijab. Under FV, Yusof devied a muslimah urban lifestyle label called dUck, which offers hijabs and soon, some home items and stationery. The name comes from Yusof's own blog and has its own store in one of KL's swankiest malls. The idea came about after she started wearing the hijab and found it hard to find a store that sells all colours in different fabrics. "I wanted a store where they are always available and not sold out – that was the plan."
GROUP MEMBERS
Last but not least, this is our group members 
Nabila Fazleen Binti Ahmad Ros
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Siti Zulaikha Binti Salleh
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Syakirah Balqis Binti Muhammad
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62212117165
62214117387
SUCCESSFUL STORY OF NEELOFA
28-year-old Noor Neelofa Mohd Noor, better known as Neelofa, became inspired after deciding to don a hijab–the headscarf worn by Muslim women to cover their hair. The Malaysian actress and TV host identified a gap in the "modest wear market" and launched a handful of lifestyle brands -- one of them the Naelofar hijab, which now sells in 38 countries, including her latest concession in the heart of London’s upmarket Chelsea district.
Neelofa credits a big part of her success to entering the market at the right time. Last year, a report by Reuters estimated that Muslim consumers spent $266 billion on clothing and footwear in 2013 -- and it expects this market to account for more than 14% of the global fashion market by 2019.
Apart from building a successful business, Neelofa hopes to inspire a new generation of female entrepreneurs in her country. “I want to use my success as an example to inspire women not just to make money but also to have good confidence in themselves, be strong and not necessarily rely on men,” she says.
COMMERCIAL VIDEO OF NAELOFAR HIJAB RAYA 2015
Commercial video of Naelofar Hijab for Raya 2015
ENTREPRENEUR SKILLS FOR GROWTH ORIENTED BUSINESS
Entrepreneur
is a complex term that’s often defined simply as running your own business.
While entrepreneurship is the process of designing, launching and running a new
business which is often initially a small business. The person who creates
these businesses is called as entrepreneur. Entrepreneurships are likely
linking to the economic growth.
The
growth intentions of an entrepreneur were influenced by their own attitudes, by
the views of other people. For example by observing their spouse, business
partner, accountant or banker, and by the perceived feasibility of success. The
attitudes of the entrepreneur were influenced by positive factors such as
financial implications, contribution to the community and recognition of the
community but they were negatively influenced by factors such as work-family
balance, additional stress, and potential loss of control. The combination of
these influences contributed to the accumulation on an entrepreneur’s growth
intentions, which combined with competitive advantage and managerial skills
determined the growth outcome of the firm.
Next
is views of significant others. Based on the journal, this point discussed
about how the others views can lead to growth outcomes. Much of the literature
reviewed agreed that the most significant barrier to growth was based upon
psychological or motivational factors. If there is not a strong commitment by
the entrepreneur / management team to grow the business, then it is unlikely to
happen of its own accord. However, even if the commitment to growth is
demonstrated, then issues such as management capability, funding, shortage of
orders, sales / marketing capacity and poor product / service offering has also
been featured in the literature as being the primary barriers to firm growth. Perceived
feasibility is one of the factors of growth intention. When the entrepreneur
realized what will happen in the future, it will lead to a business growth.
FACTORS THAT INFLUENCE WOMEN ENTREPRENEUR SUCCESS IN MALAYSIA
Woman
is a female human being. The term woman is usually reserved for an adult, with
the term girl being the usual used for female children. While woman
entrepreneur can be defined as a female who create and lead a certain business.
There are a lot of characteristics on how to be a success woman
entrepreneurial.
Firstly,
women should have the entrepreneurial characteristics. To be a success
entrepreneur, women must understand more about those activities and
understanding the personality of the entrepreneur must be studied. They need to
go deeper on the field that they are chosen and the business selected.
Entrepreneurial characteristics are very important to be identified among
entrepreneurs as it has received attention all over the world.
Second
is need for achievement. A person with need for achievement refers to the one
who prefer a moderate difficulty task, accept responsibility and look for the
outcomes. Most of successful women entrepreneurs have the characteristics of
need for achievement compared to other characteristics. Besides, among risk
taking and locus of control, need for achievement is also one of the important
characteristics. Furthermore, a higher level of need for achievement can be
found in business founders besides its very important for the development of
economic and business growth. The achievement behavior is not only encouraging
the entrepreneurs to become succeeds but it also avoids being a failure.
Next,
need to be a risk taking. Risk taking is also identified as one of the dimension
in entrepreneurial characteristics that influence the success among women entrepreneurs.
It is described as the willingness of entrepreneurs to involve in the risky
work. In another study, risk taking is referred as entrepreneur’s orientation
towards taking chances in making an uncertain decision. Another opinion has
refer the success of women is whenever the women is willing to take challenge
in uncertain decision. Risk taking has been found as one of the characteristics
which lead to the success among women entrepreneurs.
Besides,
women with self-confident are the women who do not easily give up and also do
not have many excuses such as husband and children in achieving their goals. In
order to success entrepreneurs in general should believe that they able to
achieve what has been set for their goals and they should have a confidence in
themselves. Furthermore, entrepreneurs need to be competent with their business
and also have high self-esteem. One of the personal characteristics need by
entrepreneurs to achieving their success is self-confidence. In addition, among
rural women entrepreneurs in Malaysia has defined confidence as the belief of
the entrepreneurs towards their business that has been established and also
their willingness to face any challenge or unexpected failure in future.
Lastly,
Innovativeness has been claimed as core characteristics of entrepreneur. In
another study, entrepreneurs have been characterized as innovative as result
from their creativity and knowledge. Entrepreneurs should be innovative since
the absence of the characteristics might lead to low survival rate among women
entrepreneurs. As been mentioned earlier, women entrepreneurs facing a lot of
barriers in the path of growing their business.
As a conclusion, the
involvement of women in entrepreneur field can enhance the increase in economic
growth. A good successful women entrepreneur also can increase the number of
job opportunity
in their country. Furthermore, business activities also can make people be more
creative and learn to be a risk taker especially for women group. With these
characteristics, women entrepreneur can help themselves to study and learn more
about how to prepare to be a success entrepreneur not only in locally but also
internationally. http://www.ijrbsm.org/papers/v4-i1/3.pdf
FEMALE ENTREPRENEUR IN CHINA
Entrepreneurial activity by women in
the People’s Republic of China has become more active in recent years with much
greater attention being paid within and outside of China. Entrepreneurial
behavior is impacted by both motivation and personal characteristics.
Entrepreneurial motivations, in turn, are underpinned by the institutional
environment as well as push and pull factors.
These
two factors internal and external had give a big impact on women
entrepreneurship activity in China. The internal factor is from individual push
or pulls factors. Push factors include low income, future limitations on employee
opportunities, loss of employment, and too much competition for jobs while pull
factors include interest in business, self-fulfillment, personal control, and
maintain technological skills. External factor is from institutional
environment. The interaction of internal
and external factors determines personal entrepreneurial behaviors. External
institutional environment and internal push or pull factors stimulate a person's
expectations and create the existence of entrepreneurial need, resulting in the
formulation of entrepreneurial motivation.
Next
is entrepreneurial expectation. In this case, the entrepreneurs need to
identify what they expect from the entrepreneurship activities. When they are
already list down or know the expectation from the business, they will know
what are the needs in order to establish the business or the goals. To be an
entrepreneur, motivation also is highlighted in China. Motivation is like
bringing them up in whatever decision they choose to do. Motivation can come
from personal, family and also the country itself.
Personal
characteristic also may be to the next stage which is the entrepreneurial
decision. Personal characteristic can be defined as how the entrepreneur reacts
on the entrepreneurship activities. As an entrepreneur, they should have
positive characteristics on business field such as a broad of networking among
others entrepreneur.
All
the elements above are the pathway before the entrepreneur making a certain
decision on their activities. As a good entrepreneur, they cannot easily making
a decision without thinking the advantage and disadvantage from their action.
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