Week 11(25/4/2013) - KEE120056

This week the lecture continues on last week's topic, SKILLS IN PROJECT MANAGEMENT. 

This week also marks the end of the syllabus for GXEX 1412 Basic of Entrepreneurship Culture. 

Next week is Week 12, selling and poster display will be going on. 

We look forward to see you... 

For more information about our business, please visit our business blog.

Week 10(2/5/2013) - KEE120056

SKILLS IN PROJECT MANAGEMENT

1. Things that I've learnt from this week's class.

- Management is a process. It involves a small number of people guiding/leading a larger number of people, often sharing the similar aims.

- The four managing functions: Planning, Organizing, Leading, and Control.

- The attributes of a leader.

*MARKETING

- The fundamentals of marketing: market segmentation, different analyses techniques commonly found and used(eg. SWOT analysis)

- Marketing strategy

- Finance

  

2. How do I feel about the things that I've learnt from this week's lecture?

Although I have already know most of the things being taught this week, the sharing of knowledge by the lecturer further deepens my understanding and grasp on this particular topic

3. How am I going to apply the knowledge that I've gained?

I will try to do the SWOT analysis in my daily life as I find it quite useful and practical. I will try to lead as I admires the attributes of a leader compared to a follower.

# Management and strategy is important as a good start is a battle half won. 

Week 10 (2/5/2013) KEE120049

Things that I have learnt from this week lesson:

    On this lesson, I have learnt about the PROJECT MANAGEMENT SKILL which is useful to do our project in this course. The most important thing in the project management is PLANNING. This is because planning will always ensure a successful project if we make a very well-planned project and we follow what we have planned to carry out the whole project. There is 2 types of planning, such as the long term planning and the day to day planning which is also known as operation. 

     Besides planning, we also need a strong ORGANISATION which can carry out the project in order. A well managed organisation will enable the project to be carry out according to the schedule and ensure that the project can be completed successfully. 

    What does a well manage organisation need? Definitely it needs a very successful leader. A wise and smart leader is able to conduct the whole project well without feeling panic even when there is problems encountered. A well organize structure of an organization is also very important since we have to create several department which is in charge in different types of job. We need to consider about their abilities in order to distribute the job accurately. We need to know which field is their major and then only we decide to give him what post. 

     Next, before we want to start a project or business, we need to do some research about the market of the products which we are going to promote. This is to ensure that we will get the biggest profit and to ensure that there is no loss in our project. 

How do I feel about the things that I've learnt from this week's lecture?
The knowledge that I have learnt through this week lesson is very useful to me. This is because it taught me how to ensure my project to be successfully done and completed. It also detailed out all the important criteria which can help to ensure my project do not failed.  How am I going to apply the knowledge that I've gained?
I will apply the knowledge learnt in this week when I want to start a project or business. This is very important as we must ensure whatever we done, we do not want any failure and what we want is only success. In order to success, we need to have project management skill which is very important in handling a project. 

Week 10 (2/5/2013)_KEE120053
Project Management Skills
Things that I have learnt in this week's lecture:
Management

• Process of administration and coordination of resources effectively & efficiently toward organisational objectives
• Functions are Planning, Organizing, Leading & Control

Planning

• Long term strategic
• Daily operation
• Fixed
• Once off
• MBO
• Contigency

Organizing

• Job scope
• Job distribution
• Job enlargement and enrichment
• Job rotation

Leading

• Characteristic of a leader
• High EQ
• Knowledgeable
• Strongly motivated
• Confident
• Honest
• Cognitive

Control

• Strategic
• Tactic
• Operation

Basic of Marketing

• Market size
• Market Segmentation
• SWOT analysis
• Marketing strategy
• Finance
• Proforma income statement

How do I feel about the things that I have learnt from this week's lecture?
I am glad to exposed to this management knowledge because it provide me the characteristic of a leader and the management skills. It is very useful to me as to be start and conduct a project

How am I going to apply the knowledge that I've gained?

• Try to improve myself according to the leadership list 
• Planing for any project using the guidance
• Use the marketing knowledge to conduct my business
• Learn to be a leader

Week 7(4/4/2013) - KEE120056

Business Planning

1. Things that I've learnt from this week's class.

• The importance of having a business plan

> To enable us to evaluate, think and improve the business which we are planning on.

> To enable us to gauge the returnability of a prospect business.

> To make the possible problem that might occur be more observable.

• The format of a formal business plan and important aspects to consider when writing a business plan

In this week's lecture it was highlighted that: 

 A professional executive summary should be around 25-35 pages

à it is to explain BRIEFLY but thoroughly the main elements of business as a separate document.

In the business plan, we must focus on explaining to people in a few pages regarding what are you/ your business going to do. 

In short, business plan is as if a summary on what our business is all about.

The following should be included in the appendices: 

•      Proforma financial statement
•       Balance sheet
•       Cash flow analysis (the flow of money, total project cost, total financing)
•       Income statement
•       Business registration document à for your corporate identity
•      Operation document à permission to do business    

2. How do I feel about the things that I've learnt from this week's lecture?

I feel that it was an imperative lecture as literally every business needs a business plan. I am glad that I was exposed to such a thing now and I am able to apply all the knowledge that I have gained as soon as now! 

3. How am I going to apply the knowledge that I've gained?

I will apply all the knowledge that I have gained from this lecture and lead my team to write a good business plan. I have confidence that we can gain a lot more by writing a good business plan. I am looking forward to cooperate with my team in coming out with a very marketable business plan.

A good plan is a good start. And a good start means the job is half done!

Week 7(4/4/2013)_KEE120053
Business Plan
This week class is about
1) What is business plan?
2) Important of business plan
3) Guidance to prepare a business plan

1) What is business plan?
It is a written document that explain a business which must consists of
(a) analysis
(b) forecast
(c) expectation
(d) strategy

2) Important of business plan
(a) others can evaluate the business objectively and critically
(b) show the validation of the business
(c) find out the requirement resource for the business
(d) realize the future problem

3)Guidance
Format
(a)Title of front page

• Title 
• Name & address of business
• Writer's name
• Date prepared

(b) Table of content
(c) Executive Summary

• Briefly explain main elements of the business

(d) Structure of Business plan
(e) Appendices

Structure of business plan
(a) Introduction

• Name of business
• addressed to whom
• Sole-proprietorship or partnership
• personal detail

(b) Purpose
(c) Business background

• General information
• industrial information

(d) Marketing

• Product/service information
• marketing information
• Price
• Promotion
• Distribution
• Competition
• Management
• Operation

(e) Finance

• modal
• source
• investment
• distribution

This lesson make me clear about business plan. Business plan is important and necessary in preparation of a business. After this lesson, a rough idea of how to write a business plan is on mind. A good business plan can reduce risk of a business. Beside that, it can help to find out future problem and identify the validation of a business. So every business must have a business plan before start.

During the preparation of a business, there are many thing to do and take note. One of it is business plan. From this lesson, I learn the important and the way to write a business plan. The content is important because it may lead a business to a right way. Besides how to do a business plan this lesson also teach me to plan in my life. I will always use the guidance to do a plan in my life not only for business.

Post 5 (KEE 120057)

A business plan comprises analysis from our research, expectation and implementation of our business idea. It displays viability of our business and helps to identify problems associated with our project. A business plan should include the following:

1. Front Page:

            •          Title

            •          Name and address of our business

            •          Name of writer

            •          Date prepared

2. Contents
3. Executive summary

            •          To explain briefly the main elements of business

4. Structure of business plan
5. Appendices

The business plan is then subdivided into the following parts:

     1.       Introduction

     2.       Purpose

     3.       Background information

            •          General information

            •          Industrial information

     4.       Marketing

            •          Details of product or service

            •          Targeting market

            •          Price

            •          Promotion

            •          Distribution

            •          Competition

     5.       Management

     6.       Operation

     7.       Finance

Establish our own business has never been an easy job. It requires meticulous planning, cooperation and commitment of many parties. A good business proposal gives insight and confidence to our business partners.

I can adopt this format in preparing my business plan.