Open Culture

Corporate venturing is an umbrella term coined by management gurus and

convers a range of mutually beneficial relationships between companies. Often it

involves a larger company investing in a smaller, younger company in partnership

where strengths are traded, and risks and rewards are shared. The smaller company

retains its independence and the larger company gains a window on a new

technology, produst or niche area. It can also entail a larger company “spinningout” a

small venture started within it.

One of the advantages of a larger company investing in a smaller one will be

clear if you look at our overall approach to productivity. In most indian firms,supply

chains are still operated and driven on a lowest price competition basis rather than

on what provides the best solution to take the business forward. Our attitude begins

and ends with seeking the lowest price rather than seeking a longer term partnership

approach. The partnership approach is not really embedded in our supply chain

culture. You need to to get that right before you make the next leap forward to a

more formalised corporate venturing approach.

The employees in new companies created by our young entrepreneurs seem

to have four things that enables them to contribute to the success of the venture they

are in formed, engaged, empowered and rewarded. The entrepreneurial environment

is very open with individuals being able to readily access information and have a

clear appreciation of the aims for the enterprise and their contribution to it. It is all

about access to information. Everyone here knows everything about the company so

that they are empowered to understand the big picture. I believe the more you

understand them, the more they care.

I need to make it clear that it does not make sense for an entrepreneur to

build a company full of entrepreneurs. You need a balance of skills, competencies

and personalities. Surely, the motivation of employees will be different to those of the

entrepeuner that founded the enterprise. I think what is important is that you must

have open culture with very healthy communication relations so that if anybody has

an ideas about how something could be improved, that idea can be picked up,

nurtured and turned into something really exciting. Raghu, N. (2009).

This can be referred to Tan Sri Dato’ Loh Boon Siew. He really struggle hard

to manage their business. While traveling Tan Sri to become a successful

entrepreneur looks easy but what happened was the opposite. This scenario not only

apply to Tan Sri own but almost all successful entrepreneurs today have gone

through the same twists and turns before becoming a successful entrepreneur. This

is because in the world of entrepreneurship, external environmental factors can

affect an individual's journey to becoming a successful entrepreneur. Among the

external factors which should be evaluated by an entrepreneur is politic, economy

and social-culture. This factor is the most important factor that must be taken by an

entrepreneur. This is due to political and legal stability to a country that can

guarantee the country's economic stability. This is all about how open culture can be

the important way for Tan Sri to increase and develop their business. All the

opportunity there is on his mind before he could be successful entrepreneur in

Malaysia. MALAYSIA, Open University. (2007).

As Tan Sri, political stability in Malaysia at the start of her business has

helped her to succeed. This is due to the economy at that time are being planned by

the government for the newly independent country. Of course the success of Tan Sri

to get the license as the sole distributor for Honda in Malaysia had tremendous

support from the Malaysian government. This in turn can increase the level of the

national economy at the time.

A successful entrepreneur must also be able to predict the economic growth

of a country. This is due to stable economic growth can spur sustainable economic

growth and in turn can help entrepreneurs to succeed. Although the start-up Tan Sri

simply by leveraging with only 15 motorcycles brought into Malaysia, but with an

advanced emerging economy after independence has led to high demand for

motorcycles than with cars. This is because the socio-economic conditions of the

people of Malaysia at that time not yet exactly thriving.

Socio-cultural factors are divided into two, namely changing demographics

and social conditions of local communities. Both of these factors should be perfectly

predictable it can help entrepreneurs to identify potential and business opportunities.

Socio-cultural factors can also identify consumers' purchasing power. After the

country gained independence in 1957, the social trend of the people then began to

change. With only a bicycle to a place like the office, the people of Malaysia at that

time was introduced by the colonial motorcycle before independence. But most of

the motorcycle brought in by the colonizers is large like Norton brand which is not in

accordance with the size of a small body of Malaysian society. By looking at the

socio-cultural situation that is changing this, Tan Sri Loh Boon Siew had been

successful in identifying new business opportunities, namely by selling motorbikes

small size and light weight, better known by motorcycle 'cub'. Sudin, Haron. (1990).

As Tan Sri Loh Boon Siew, his idea came suddenly while in Osaka, Japan

that is what has made him a successful entrepreneur. With the concept of "Not to

reinvent the wheel" that has facilitated his efforts to become a successful

entrepreneur. By simply bringing Honda motorcycles in Malaysia of 15 slave units in

the beginning, it has remained in the hearts of Malaysians. To date, more than 2

million units of Honda motorcycles are on the roads in Malaysia

Reference

Raghu, N. (2009). Unleashing Your Entrepreneurial Potential. SAGE Publications Ltd : United Kingdom.

MALAYSIA, Open University. (2007). OUMM2103 Entrepreneurship. Kuala Lumpur: UNITEM Sdn. Bhd

Sudin Haron, (1990). Kearah Menjadi Usahawan yang Berjaya. Kuala Lumpur: Dewan Bahasa dan Pustaka.