Lim Goh Tong Essay

Successful communication channel be ofter managed by what type of leaders? Successful furrow are ofter managed by leaders who know how to teleph hotshot their human resources (HR) to produce better products and service compared to their competitors. b) How potty a change of wit fire be the pre-requisite step for building and existing entrepreneurs to persist in the business?A change of mindset can be the pre-requisite step for building and existing entrepreneurs to stay in the business because it having a positive mindset and to step up efforts to deal with constant changes and ch tout ensembleenges in a highly competities market place. c) What are the make factors to be considered in the exercise? The key factors to be considered in the exercise are entrepreneur mustiness be smart and resilient in mobilizing all its resources, including HR to move towards common goals and to deal with challenges that fall the business.It requires the creation the creation of a more ferti le and knowledge business culture with people that deeply understand the business environment. d) What are the key factors to be considered in the exercise? The key factors to be considered in the exercise are considering knowledge as a factor that can make a distint digression and identifying emerging key and new method of conducting business and making it more matched. e) What the factors to achieve entrepreneurial advantage to sharpen a companys competitive adge?The factors to achieve entrepreneurial success to sharpen a companys competitive adge depends on the mogul to attract, retain and develop competent people continuously. f) wherefore is having leadership qualification is important? Having leadership mightiness is important because it stand in good property for the entrepreneur to help worker in problem-solving as well as to provide guidance on the right work ethics and maximize the employee performance. g) How to be a successful entrepreneur? To be a successful ent repreneur , one should have the ability to plan, arrange and control the business in all(prenominal) aspect. .Based on your understanding, give one guinea pig of successful entrepreneur in Malaysia. That constributes a pickle in Malaysia economy. Give the strength of his (her) product/service. Lim Goh Tong is absolute story of a rag-to-riches story. He migrated from China mainland in his youth. And as fate would have it, the two by and by became friends when he was on his way to build Genting. From the mean solar day he was born until his death, Lim Goh Tong did non speak English, he only communicated in Chinese and Malay language. nevertheless his language barrier did non prevent him from negotiating one of the largest contracts around. Financial. His strength could be seen from his early age intricate in petty trade. He everlastingly keeps several(prenominal) of his revenue for future used and increases his capital. 2. Intellectual . Lim Goh Tong always did a survey and made a feasibility study whether to project to be taken real produce profit or loss. He leave alone not close the deals unless money back guaranteed. 3. localisation .Choice of location is gave him ahead of others. Genting Resort was build to encourage local people to enjoy airy environment near Kuala Lumpur. 4. Diversification on output Offered. Genting Group has diversified from its initial hotel and resort hotel activities to plantations, properties, write up manufacturing, power generation, oil and gas, electronic commerce and cultivation technology development under Genting Group. 5. Government endure and Regulation. Genting was extremely advantage after government denote in October 2002 to restrict development of highlands.It will cause no competition for Genting Group on their resort business. 6. Product Diversification . Lim Goh Tong knows to play his card. He is not dependent on his Casino business. He has compile Company dealing in Star Cruise, belongings D evelopment, Education, Construction, Oil and Gas, Investment, Plantation, Independent Power Industry and Hospitality. He has well diversified revenue and will not worry on economic trend if kick downstairs in certain industry. 6. Favorable access to scattering net works.Lim Goh Tong relationship with all the Prime take care of Malaysia make his job easy. He received a pioneer placement from Tun Abdul Razak on his Genting business. In 1976 the status was extended another year by Tun Hussin Onn by dint of Tan Sri Mohd Noah who is in-law to Razak and Hussin Onn. 7. Market Trend. Lim Goh Tong always take up the trend from his early involvement in turn of events industry. After WW2 he bought all unused clayey machinery and reconditioned it before it was sold to tin miner and good-for-naught Estate Company for their rehabilitation work.