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
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.
TEAM ORIENTED
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
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.
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