About Tony Fernandes
Name: Anthony Francis Fernandes.
Born: 30th April 1964 (Age 52).
Residence: Kuala Lumpur, Malaysia.
Education: Epsom College and Alice Smith School.
Occupation: Group Chief Executive Officer
Director of AirAsia Berhad and founder of Tune Group Sdn Bhd
Chairman of Queens Park Rangers.
Net Worth: USD 530 million (2015).
OPEN RISK TAKER
In the field of business, risk refers to the possibility of facing losses. According to Richard Cantillon, founder of the concept of entrepreneurship, entrepreneurs refers to those who “run the risk”. Risk is an inevitable element in every stage in the process of entrepreneurship, especially the initial stages of a business, and so on in every decision-making process throughout the course and development of the business. However, for a successful entrepreneur, the risk often associated with opportunities and advantages to achieve success and make a profit. Typically, a substantial risk will bring healthy profits and conversely, those who avoid all risk will gain a minimum. However, losses may face the risk of making big a decision is greater than the small risk. Therefore, an entrepreneur should collect adequate information and always be aware of the current changes, to evaluate and consider the risks to be taken. With this, an entrepreneur may be to maximize profits or minimize losses faced by business.
Entrepreneurship is demonstrated in Tony Fernandes when he decided to engage in budget airline in Malaysia. Aviation is an area of business that is highly dependent on market conditions and the global economy. The plane is produced and supplied by multinational companies such as Boeing and Airbus. In addition, the demand for tickets is also highly dependent on international economic conditions that will determine the purchasing power of customers. Oil prices also unstable plane, and is always up and down according to global market. In addition, the demand for airline tickets in Malaysia is very small due to the high prices. At that point, the open skies policy has not been implemented in countries in the region, and destinations that can be reached by small carriers are very limited. Due to the above factors, few dare to venture into the field of budget airlines in Malaysia.
Fernandes also took many risks in the acquisition of Austrian Airlines. For this purpose, he has leased mortgaged his house to buy an airline suffered losses continuously and have millions of debt. Not only that, a time chosen by Fernandes to engage in aviation is also the most inappropriate time and high risk, is after 11 September activity. At that time, the airline industry is facing huge losses because people did not dare to fly.
However, as an entrepreneur who takes risks, challenges and risks be regarded by Fernandes as an opportunity that can bring benefits in addition to helping in the development of his business and the budget airline industry. Fernandes took advantage of the 911 incident, which caused a decline in the cost of aircraft rental and labour costs due to a decline in demand for the aviation industry. With low operating costs, he is able to offer low prices on airline tickets and enhances the ability of the public to buy tickets. In effect, every Tiger gets warm welcome in Malaysia. In one year, AirAsia is able to explain the whole debt and no longer suffer losses.
Visionary entrepreneur is someone who has a clear vision and of itself, and is able to imagine what will come. An entrepreneur is not able to plan everything, so they should be flexible to reflect how fleeting the future of their companies.
For example, Tony Fernandes is an entrepreneur with a vision towards the company which are AirAsia. Tony Fernandes, who served as CEO sees opportunities in Malaysia to introduce the slogan ‘Now Everyone Can Fly’ by charging low fares to Malaysians. Formerly from commercial airline, AirAsia has now become one of the successful companies in Malaysia. By charging fares as low as RM99 from Johor Baharu to Kota Kinabalu, and many Malaysians have the chance to fly AirAsia. AirAsia has flown to 28 destinations in Asia including Bangkok, Jakarta and Macau. Tony Fernandes also keeps costs low with rapid recovery rates. He makes a profit by providing the cargo on board the minimum selling and marketing joint venture with another company.
FAILURE IS AN OPTION
“Failure is an option”, this phrase was popularized by Adam Savage of Myth Busters, a strong ideology that we must all grasp. It is contrary to the old adage by military commanders, managers, coaches’ football and other power generation are often attributed that failure is not an option.
Failure is a beautiful thing, and if you run your business in a lot of competition, you can generate more advantage over your competitors. Competitors who many think that they are better than you and often spend a lot of time to be perfect rather than try a lot of things to be successful in business. The truth is we all fail, every one of us ever tasted failure, and when we really stop and remove the views of people who said that failure is not an option, and you will realize that it is not really a negative.
You need to establish a digital marketing at the macro level to succeed and of course be able to provide increasing returns. I am not saying not a great success and that you do not have to strive for it. But ironically, the more you fail, the more you will succeed. Failure should always be an option on the table is not going to make or break what you are doing overall. Expect failure, take it, have a term for it, do not freak out about it, and realized that if you structure it right, it is a positive one.
Tan Sri Tony Fernandes is a unique feature of selecting failure as an option. This is because Tony Fernandes, Air Asia has bought the company after the events of 11 September 2001. 11 September 2001 events are events where most of the aviation industry worldwide has suffered a loss and this is the worst situation in the history of aviation. Since the incident, most of the people of the world have expressed their concern to board a plane, especially air transport. Tan Sri Tony Fernandes has thrown various allegations and verbal abuse on him. There is also an economist with an interest in the aviation industry have predicted he would go bankrupt in the near future due to the effects of the events of 11 September 2001 black.
However, in the opinion Tan Sri Tony Fernandes said he felt that the time chosen to buy the company AirAsia is precisely because of the impact of these events many workers from various airlines around the world have been laid off over the company’s profits. Among the workers who have been laid off are the pilot, flight attendant, flight attendants, clerks and others. With this, he took the opportunity to take these workers experienced at lower prices thus it can save cost Air Asia. This proved AirAsia is able to explain the entire debt only after a year without any loss. There are also airlines that sell their company’s assets including aircraft for the purpose of the company’s financial balance.
Teamwork means members willing and love to work and perform tasks as an organization. The team spirit is very important in determining the success of an organization, and can be formed through the establishment of a workplace culture that encourages this spirit. For former workplace culture like this, all members of the organization are treated fairly and equally. There is no any party even more powerful and important than others, and the contributions and suggestions of all members recognized evenly. In the spirit of this team, the organization can get many benefits, such as tasks carried out more effectively, increase the motivation of the members of the organization to achieve success, system more open communication, and diversity of the members could be fully utilized.
For example, Tony Fernandes is constantly striving to create a culture and environment that can foster cooperation within the organization. Inside or outside the organization, Fernandes rarely found without a baseball cap, T-shirts, and jeans. This is to foster an informal culture in the organization so that collaboration is easy to set up. Fernandes believes that every individual in the organization, he played an important role in business success. In addition, anyone who is capable, regardless of the identity and rank, can take the initiative to help the development of the business. For the purposes of understanding the process and problems of each business unit, Fernandes himself constantly works in each unit different for each day. Thus, on a certain day each month can be viewed Fernandes worked as cabin crew on one day and as a clerk check the other day. Next, Fernandes also established a special organizational unit for the “dissemination and feast”. These actions show just how important cooperation or “teamwork” within the organization to Fernandes.
Proactive means the positive attitude of individuals, institutions and others in drafting or perform an action after carefully thought much earlier than the occurrence of a matter of course requires appropriate action that is not done only after something has happened. According to Frankl (1962), proactive ehaviour is the most important form of human life, namely the ability of individuals to find meaning in life and strive to fulfil the meaning of life as a personal responsibility.
There are various features in the individual proactive. First, proactive person is always responsible. They do not blame circumstances for their ehaviour. Behavior is the product of choice in a conscious, based on values, and not the product of a mood, a state, or social pressure to be accepted. Second, proactive people focus their capacity on the circle of influence (accounted for all the things that can be affected). They do things that they think can produce something new. The nature of their energy is positive, expand and enlarge, causing their circle of influence increases. Third, focus on spheres of influence. Proactive people work from the inside out (in the side – out), which is trying to make a change by changing themselves first, even from the inside of him, namely by examining the paradigm of truth and the perceptions. Fourth, the proactive life centered on the principle (principle centered) then translates these principles into the values that have been chosen. Based on these values, he made a choice and carries it out. Fifth, people proactively develop and use “four unique human endowment” optimally. Four awards are as believed by followers of the sect of humanistic psychology as the unique properties that make humans different from other living beings. Covey said “four unique human gifts” it is self-consciousness (self-awareness), conscience (conscience), the creative imagination (creative imagination) and freedom of the will (independent will).
Proactive attitude can be seen in Tony Fernandes himself when he transformed the landscape of aviation since taking over Air Asia which is facing a loss in 2001. For example, he implemented many marketing plans through internet so that makes 70% to 80% of purchases on the internet for Malaysian market is buying a plane ticket from Air Asia. In addition, proactive attitude can be seen inside Tony Fernandes when he had opened the hub and the second in 2003 at the Senai Airport, Johor Bahru is located near Changi Airport in Singapore after the Kuala Lumpur International Airport as the operations center (hub). Air Asia is forging ahead with paving the way international flights to Thailand and then established airline called Thai AirAsia, the business cooperation with Shin Corporation. During the five months up to June 30, 2004, Thai AirAsia has carried around 380,400 passengers, 86.7 per cent of passenger routes in the region.