lOMoARcPSD|10397530 Individual Assignment 1 Principles and Practice of Management (Universiti Teknologi MARA) Studocu is not sponsored or endorsed by any college or university Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 FACULTY OF APPLIED SCIENCE BSC. BIOLOGY (HONS) MGT420 PRINCIPLES AND PRACTICE OF MANAGEMENT “A FAMOUS CONTEMPORARY LEADER” NAME: STUDENT ID: CLASS: AS2012A-2 LECTURER: DATE SUBMISSION: 1 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 TABLE OF CONTENT CONTENTS INTRODUCTION LEADER BACKGROUND LEADERSHIP STYLE LEADERSHIP TRAITS CONCLUSION REFERENCE PAGE NUMBER 3 4 5 6 7 8 2 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 INTRODUCTION Figure 1: 99 Speedmart 99 Speedmart is a wide chain of Malaysia’s convenience store and it is by far one of the biggest mini markets in Malaysia. The mart is founded by Lee Thiam Wah on the late 1900s then it has undergone a rebranding in the year 2000, as it was a traditional sundry store before that. It expanded and had an impressive growth ever since. By 2008, it is said that 99 Speedmart already had 100 stores. (Tan, 2021) Next, Datuk Seri Saifuddin Nasution Ismail mentioned in his speech that this franchise topped the sales in 2018 among all franchise business in Malaysia with RM3.4 billion sales. (99 Speedmart Is Top in Sales among Franchise Businesses, 2019) As 2022, 99 Speedmart have 2063 stores all around Malaysia and Singapore according to the Wikipedia. 3 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 LEADER BACKGROUND Figure 2: Lee Thiam Wah, Founder of 99 Speedmart Lee Thiam Wah is known as ‘King of Mini Marts’ among entrepreneurs and businessmen. In the year 1964, Lee was born in Klang. Lee is a wheelchair-bound man as a result of losing both his legs because of a severe medical issue, during his toddler phase. (Lee Thiam Wah: “the King of Mini Marts” in Malaysia, 2022) It was tough living in a poor family especially because he needs special care. He grew up in a low-income family, so Lee only finished his primary school and had to leave school because of the transportation cost. He mentioned that he envied his watching his siblings lead a normal live and got to go to the school. (Emily, 2017) At an early age of 14 years old, Lee has joined the business field and started selling snacks outside his home in Klang. During his teenager phase, Lee has been saving up money and by the time he reached 23 years old, Lee had RM17,000 in his savings. Then, he opened a grocery shop called ‘Pasaraya Hip Hoe’ and invested all his money on it. (Lee Thiam Wah: “the King of Mini Marts” in Malaysia, 2022) 4 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 LEADERSHIP STYLE 1) Expert Power Lee Thiam Wah posses a power that is based on a knowledge, skills and expertise, given that Lee has started doing small business during his youth. So, Lee applied his knowledge that he has learnt from that in managing and improving 99 Speedmart. Lee is an expert in the study between customer’s demand and product supplies in determining their prices. (Tan, 2021) Thus, he managed to set a lower price on a product that are smaller in size, it is well known as a mini market with a low price. On top of that, Lee Thiam Wah has shown passion towards knowledge. He loves to read newspapers and magazines during free times, and even borrowed books from his neighbours to continue studying. (Ruxyn, 2017) 2) Referent Power Lee Thiam Wah holds a significant power in influencing people especially his subordinates and co-workers because Lee is very tedious in managing the operations, which leads to the good relationship between him and the people he works with. (Tan, 2021) Lee has shown a great example to his employee through his dedication and spirit in establishing his business. Even with his physical condition, he is very committed and work hard consistently. Lee highlighted that due to his physical limitation, he ought to work harder. (Lee Thiam Wah: “the King of Mini Marts” in Malaysia, 2022) 5 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 LEADERSHIP TRAITS 1) Knowledge and Expertise According to source, Lee managed to set the lowest price possible on his products is because he had an experience in managing a sundry store beforehand. Thus, he is able to identify which fast-moving goods with high turnover rates and to make sure he would stock up on those. (Tan, 2021) This proves the expertise he had in the business field helped him and so does his knowledge. Lee definitely knows how to apply his knowledge he had in order to increase the efficiency and effectiveness. 2) Integrity and Honesty Lee Thiam Wah is familiar with honesty. He has been an honest businessman ever since he was young. Now, that his business is one of the top mini markets nationally, he never neglects this trait. He makes sure to monitor the operations and involves personally in putting order and receiving order. On top of that, Lee is on time with payments to the supplier. (Tan, 2021) This is an astounding trait because many of the big businesses failed to do so. 6 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 CONCLUSION In a nutshell, a leader must acquire certain leadership skills, traits and also behaviours. This is due to the fact that a terrible management by a leader in any organization will lead to a failure. A leader plays the most crucial part in organizing any types of organization. Lee Thiam Wah has shown an amazing leadership skill in managing his company, 99 Speedmart. He is one of the greatest founders known in Malaysia’s history. Hence, it is important for the leaders to take note and improvise their leadership in order to gain success. 7 Downloaded by Farhan (farhanrahman0409@gmail.com) lOMoARcPSD|10397530 REFERENCE 99 Speedmart. (2020, November 23). Wikipedia. https://en.wikipedia.org/wiki/99_Speedmart 99 Speedmart is top in sales among franchise businesses. (2019, March 25). KLSE Screener. https://www.klsescreener.com/v2/news/view/507617/99-speedmartis-top-in-sales-among-franchise-businesses Emily, K. (2017, September 20). Speeding into its 30th year | The Star. Www.thestar.com.my. https://www.thestar.com.my/metro/metronews/2017/09/20/speeding-into-its-30th-year-minimarket-chain-opens-1000thstore-thanks-to-tenacity-of-disabled-foun/ Lee Thiam Wah: “The King of Mini Marts” In Malaysia. (2022, January 24). Wiki Impact. https://www.wikiimpact.com/lee-thiam-wah-the-king-of-mini-martsin-malaysia/#:~:text=Dubbed%20as%20the%20 Tan, J. (2021, April 29). A Disability & Lack Of Higher Ed Didn’t Stop Him From Growing 99 Speedmart Into An Empire. Vulcan Post. https://vulcanpost.com/744309/99-speedmart-history-founder-lee-thiam-wah/ 8 Downloaded by Farhan (farhanrahman0409@gmail.com)
