TASK 1 A

TASK 1 A

                                     Tan Sri Lim Goh Tong

Failure is an Option

Failure is always an option, a phrase popularized by Adam Savage from MythBusters, is a powerful ideology all of us should embrace. It runs counter to the old saying by buttoned-down military commanders, managers, football coaches and other commonly associated power figures that failure is not an option. That phrase was (and still is) used by managers of all levels and types in a misguided attempt at motivation. However, it’s unlikely to motivate smart folk and wouldn’t be used it they understood the true motivations behind creative individuals. The old notion of failure not being an option is irrelevant to digital professionals. Failure is a beautiful things, and if we organize our business around it, we can again a serious advantage over competitors who think they’re infallible and spend inordinate amounts of time trying to be perfect versus trying lots of things, failing like crazy, and seeing what sticks. The truth is we all fail, every one of us, and when we really stop and remove the societal stigmas associated with it, we realize it’s not actually a negative. It we’re organized properly to take advantage of the web there is no such thing as failure. Actually, the only real cost of failure in modern business is wasting time worrying about it. This is because we should be getting data from everything we’re doing, and like a meteorologist using that feedback to constantly improve our methods. Data is now every one’s domain and if we don’t understand how to use it yet, it’s time to lean.   

The trait of failure is an option that can be apply on a successful entrepreneur has been proven by the founder of Genting Highlands Resort, Tan Sri Lim Goh Tong. Tan Sri Lim Goh Tong said, “Once the goals have been clearly defined, with the greatest amount of determination and hard work, one can conclusively realize one’s goals. When he popped out with idea of transform isolated mountain into a world class resort, the people around him as the project is hopeless and wasting time. However, he invested all of the financial resource that he possessed and time. The success of the project seem as a must because of the failure would drag him to bankruptcy. In the beginning, the problem like utility supply, sewerage system and access road are the obstacle to Tan Sri Lim Goh Tong to solve it. Unexpectedly with his courage and effort of hardship, the construction of the road was finished in less than four years, where it estimated will take around 15 years to finish. In the middle of the project, Tan Sri Lim Goh Tong faced financial troubles. He tried to seek financial help from his friends, but again they suggested dropping the entire project and turning him down. From his hardship and determination, the whole Genting Highlands project had been completed in the year 1971, even though all of these issues had blocked him towards the success path. The spirit of his determination and making failure is an option made him to the success path.

                                                Daniel Tenner

Open Culture

“Open Culture” is a concept according to with knowledge should be spread freely and its growth should come from developing, altering or enriching already existing works on the basic of sharing and collaboration, without being restricted by rules linked to the legal protection of intellectual property. Open culture can give the meaning that is to change the way we work or the environment in our workplace. It aims to increase the quality of the workers performance in the organization and reduce their stress when they have to work. We as an entrepreneur acknowledged that in order an organization to perform well, the people in the workplace must be inspired, motivated and committed. As a result, we can achieve the objectives of the organization, have more dedicated workers, swept up excellent achievement awards and increase the productivity and quality of our product. When we get started down the open culture path, we will be tempted to give up. In fact, this will happen over and over along the way, many, many times. Open culture are hard. They’re not immediately intuitive, and they’re likely not comparable to any of the companies we’re worked in before. Not only that but open cultures cause endless problems : issues that would normally remain hidden under the surface for months (eventually resulting in people quitting) tend to rapidly bubble to the surface in a transparent culture. This is good because the, we can solve them, but it’s also bad, because we feel like there are constantly new problems arising.

One of the entrepreneurs that use this open culture traits is Daniel Tenner who is the founder of GrantTreee, Woobius and swombat.com. He is also a speaker, writer, amateur investor and DJ. GrantTree is a well-known United Kingdom (UK) government funding faqs. This organization expertise is in The Seed Enterprise Investment Scheme also known as SEIS which is a tax break designed to help new companies in the UK. It aims to makes new company more investable for the investor.

Besides that, the smart grants which an organization can get match funding for the organization high-tech and innovative projects. Their team also have expert in power-up fund where an organization can get the grant and tax credit money right when they need it. This organization has provided R&D tax credits which can regain back up to 32% of your development costs. The objective is to encourage technical firms by using tax incentives in developing their own products. In addition, they want to make UK more competitive on the world view.

As an entrepreneur in this field, Daniel Tenner has use open culture trait to give a good vibe in his organization. He believes that open culture can improve the organization performance by improving his workers productivity and reduce stress among the workers. In order to apply this trait, he has used three principles to make sure he successfully uses this trait. The first principle he use is transparency. Transparency means that there is no secret among the workers whether at the highest position in the organization or the lowest position in that organization. Every worker must get the same information and direction of the organization.

Based on this open culture traits, GrantTree has proven that open culture is one of the traits that leads an entrepreneur to achieve success in a business. Although GrantTree has only 23 employee but they manage to achieve about 1.3million turnover last year by practicing this traits. Now, they aim to achieve about 2million in this year.