TOPIC 1
The fist topic is discuss about the basic
culturelization of entrepreneurship. The Objectives is to evaluating the importance of the study of entrepreneurship and to explain
the concept of entrepreneur & entrepreneurship and the other objective is
to identify attributes of entrepreneurship. Entrepreneurship is important to
give rise to successful individuals having highly viable & competitive
businesses and Catalyst for change & growth of national economy- increase
rate of per ca-pita product & income, structural change of business &
society. Entrepreneurs
start a business is to freedom & satisfaction, fill in the time,try out new fruitful
venture, maintain family business
and grab market
opportunities.
TOPIC 2
This topic is discuss about the self-competency
analysis. The objective of this topic toward undergraduates is will
Self-develop
entrepreneurship abilities and exhibit attributes of entrepreneurship. There
are many type Self-Competency Analysis of Entrepreneurial Abilities which is
Initiative, View & Grab Opportunities, Steadfast, Information
seeking, focused on Quality Work, Commitment to Agreements, Efficiency-focused,
Systematic Planning, Solving problems, self-confidence, iron-willed
and instill confidence in others. There
are many power strategies like legitimate power, reward power, Penalty power,
expert power and Referent power. Failure
factors of entrepreneurs are because of undisciplined, unethical & irresponsible.
Second is because of ill-equipped
mentally and physically for challenges.
Third is not able to plan well and
not serious in running business
forth is wrong
strategies used and the last is because of
poor
environmental scanning and poor
business knowledge. A lot of companies have chosen to downsize, and maybe that
was the right thing for them. We chose a different path. Our belief was that if
we kept putting great products in front of customers, they would continue to
open their wallets.
TOPIC 3
This topic is discuss about Entrepreneurial ethics.
The objective of this topic is to understand the concept of divine acceptance
in business and to understand entrepreneurial ethics & business culture.
Divine acceptance concept of
Entrepreneurship
in the Eyes of Islam is making the manufacturing/Service Business
to seek for legal providence and also provide the manufacturing, distribution,
agriculture and services sector.
TOPIC 4
This
topic is discuss about creativity & innovation. The objective of
this topic is to understand aspects of creativity & innovation. At the same
time,to improve Knowledge of approach towards thinking creatively &
innovatively. And the most important is to learn how to determine
strategies to encourage creativity & innovativeness. The Creative Process by Kuratko
& Hodgetts (2004) have 4 stages which is, first assimilation
of knowledge via readings, discussions, seminars, workshops to create new
products/services. Second stage is incubator. It is does
not care where the source of ideas originates as development of creative ideas
is very vital. Third stage is idea.Acquired ideas unplanned for during
lunch/dinner, travelling etc.And the last stage is assessment &
implementation.It is Transform ideas into reality finally & without doubt. Importance
of Developing Creative Ideas is by use thinking skills innovation &
exploit ideas to develop concrete business planning.Also by viewing
the environment in a topsy turvy way & approach problems as realized
business opportunities.
TOPIC
5
This topic is discuss about Business
Opportunities . The definition Of Opportunity is a new
ideas generated via innovative process by establishing a new business,
developing new products or services.And the objective of business opportunities is
Identify business opportunities and evaluate & Choose viable
& profitable business opportunities. Situations Contributing To Business
Opportunities is Customers requiring new products/services solving their
problems or needs and existing products/services not able to solve problems or
fulfill their needs.So the Solution is by Identify Strengths, Minimizing
weaknesses, using opportunities & lessening threats.
In addition, the Process Of
Identifying, Evaluating & Choosing Opportunities can be conducted by analyse
environment & market with understanding of customer needs and also evaluating
of Self-competency, societal needs & analyses business ideas. Moreover, they
must choose the business opportunities & set up a business structure. The effect
of environmental
& Market Factors is Demographic Change like age, sex, income, education,
family members’ count and so on. The other effect is Psychographic Change which
is taste, status & ego and also Import & export data regarding demand
& supply of products/services in market & identifying opportunities. What
we can get by evaluation of match between self & business is experience,
knowledge, expertise, finance, interest and networking.
Besides that, the evaluating match of business with society is values, norms and culture. While the evaluating
match of self with environment is laws, level of competition, capital
requirements and risks.Based on all the above factors conceive a concrete idea,
choose a business & develop a business plan.
TOPIC 6
For this week we discuss about skills to start a business.
The objective study is to identify resources required to start a business,
know the techniques of effective negotiation skills and know the methods of
effective communication. Skills to identify resources
required is by using this format 5W1H technique.(What, Which, Where, When, Who,
How).in this topic,
we also discuss about negotiation skills. Purchasing and selling requires negotiation process
involving preparations, planning, strategies, tactics and communication skills
to effect a two way agreement.It is Involving
at least two parties. Next is preparations of negotiation that focus on
non-verbal communication like dressing, appearance and style, way of walking, gestures, body language, way you seat yourself, and posture, eye contact
and body odour. The Negotiation process:
•
Be ready to compromise.
•
Relax and do not overeact.
•
Sell yourself and your objectives.
•
Present yourself & secure feedback.
•
Take your time/Don’t rush decisions.
TOPIC 7
In this topic, we will discuss about business plan. This topic is importance to understand to provide others an opportunity to meticulously, critically and objectively evaluate ideas and business projects and as a guided in preparing business plan. The other important of BP is to provide someone with the realization that there could be future problems associated with running the project and also to display the viability of a planned project. The definition Of BP is a written document to explain the business that is to be runned comprehensively covering analysis,forecast and expectations plus implementation of business strategy.
Format Business Plan:
- Title Of Front Page:
•
Title of BP.
•
Name & Address of Business.
•
Name of Writer.
•
Date Prepared.
- Table Of Contents:
•
Major Titles according to page.
- Executive Summary:
•
To explain briefly the main elements of
business as a separate document.
- Structure of BP:
•
Introduction
•
Purpose
•
Business Background.
•
Ownership background.
•
Marketing (Method & strategy)
•
Finance (Capital & cost)
•
Conclusion & justification.
- Appendices.
Checklist
of BP Format
TOPIC 8
In this topic, we will learn about the Skills For Project Management. Management is the process of administration, and coordination of resources effectively & Efficiently toward organizational objectives. Organisation involves group of individuals cooperating to achieve mutual objectives. There are four management functions which is planning, organising, leading & control.
PLANNING
•
Strategic involving long-term planning.
•
Operational is day –to- day planning.
•
Fixed. The same annually but may change
annually.
•
Once Off. Only once and then new planning.
•
MBO. Involves planning of all division,
department and section leaders.
•
Contigency. Alternative plans like plan B.
In this topic, we also study about organising process. Job Design,which is how the pattern of jobs assigned.Job Description,who list of duties. Job Enlargement, giving more assignments which are related. Job Enrichment, giving more in-depth assignments and key ones.Job Rotation, do different jobs in the department or other departments.
Organisational Structure
•
Function Based like production, finance etc.
•
Division Based have two or more departments.
•
Matrics combine function and project base
departments.
MARKETING
STRATEGY
•
Product. Differentiate it. Price.Lowest
price possible.
•
Promotion to entice purchases.
•
Place to get products within easy reach and
convenience.
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