Week 3 (7/3/2013) - KEE120056

GXEX 1412 Basic of Entrepreneurship Culture

Weekly review 

Well this is actually my second time following this class, since the first week I was still caught in the midst of adding and dropping subjects(Its add and drop week back then). Actually I was quite surprised to find out that this class in conducted in English medium (99 % of it!!!). I mean, normally this subject will be taught in Malay Language according to seniors and friends.

 The class was quite informative and conducted very much in a relaxed manner, which is great! =P Alright, so basically here's some reviews of what was going on...

1. Things that I've learnt from this week's class
    - Further explainations on the Nine Building Blocks of Business Model Canvas.
Basically the Nine Building Blocks of Business Model Canvas are:

      1. 3Ks

• Key Partners (People who helps us)
• Key Activities
• Key Resources

      2. 4Cs

• Customer Relationships
• Customer Segment
• Customer Channel (How are we going to distribute the products to the customers)
• Core Structure

      3. 1V

• Value Propositions (eg. To make the world a better place by planting more trees)

      4. 1R

• Revenue Stream ( Where is our money coming from?)

 
    - Business ethics:

•   Honesty in doing business.
•   Concept of fardhu kifayah and fardhu ain and how these concepts are applied in Business.
•   Fairplay in Business.
•   Human responsibility towards the environment.
•   All dealings must be free from interest(riba).

- A very nice example was given by the lecturer in demonstrating the concept of  riba. Some bank(s) doens't charge interest for the loans given out while most bank do.



2. How do I feel about the things that I've learnt from this week's lecture? 
I feel like I've gained more insights about how the reality world works. For example, how the concept of riba is strongly unacceptable in Islamic corporate organizations like Bank Islam and its effect towards the society.


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

• not selling expired goods (especially food and beverage)
• realizing my role as a businessman in this society.
• treat every transactions as it should be, with no discrimination and much fairness.
• always take the implications of my business/act on environment as one of the main considerations.
• avoid having loans at all.