Entrepreneurship Assignment Essay

1696 Words Jul 1st, 2012 7 Pages
Abstract
Entrepreneurs are people who see opportunities where others people see crisis or confusion. They were the pioneers of today’s business. Entrepreneurship is the symbol of business tenacity and achievement. There are always a key individual who attributes to the success of a business, for example Steve Jobs of Apple, Michael Dell of Dell Computers, Fred Smith of FedEx. Their applications of creativity, risk taking, innovation and the passion lead the way to the successful of the business which contributes a lot to the economic growth.

In Malaysia, one of the successful entrepreneurs is the founder of the Tune Group of Companies named Tony Fernandes, who introduced the first budget no-frills airline, AirAsia, to Malaysians with
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Tony Fernandes mortgaged his home and sank his savings to acquire the company, comprising two ageing Boeing 737-300 jets(9M-AAA and 9M-AAB) and US$11 million (RM40 million) worth of debts, for 26 US cents (one ringgit), and transformed it into an industry player.
Everyone thought that Tony Fernandes was going crazy, because coming after the September 11th disaster, nobody wanted to fly, and prediction was the company was going to fail. But after one year of the takeover, AirAsia had broken even and cleared all its debts.

Asia’s leading airline AirAsia was established with the dream of making flying possible for everyone, with the slogan “Now Everyone Can Fly”. Since 2001, AirAsia has swiftly broken travel norms around the globe and has risen to become the world’s best. With a route network that spans through more than 20 countries, AirAsia continues to pave the way for low-cost aviation through the innovative solutions, efficient processes and a passionate approach to business. AirAsia’s vision is “To be the largest low cost airline in Asia and serving the 3 billion people who are currently underserved with poor connectivity and high fares”. (www.airasia.com.my)

From starting his humble airline company with a mere two planes several years ago, Tony Fernandes has proven time and time again that the determination to create a world class airline brand and ultimately making his mark in the aviation industry is possible when one is

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