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.

Week 7 (4/4/2013) KEE120049

Things that I have learnt from this week lesson:
This week lesson, have learnt about the business plan. 
What is the meaning of business plan?
Business plan is a written document to explain the business that is to be ran comprehensively covering analysis, forecast and expectations plus implementation of business strategy.


There are several importance about the Business Plan:
1. to provide others an opportunity to meticulously, critically and
    objectively evaluate ideas and business projects.
2. to display the viability of a planned project.
3. Assist someone to assess requirements of business necessities so
    that distribution of resources could be done effectively. 
4. To provide someone with the realisation that there could be 
    future problems associated with running the project. 

How do I feel about the things that I've learnt from this week's lecture?
I feel that the things that I have learnt from this week lesson is very important because as we know, a well-planned business is very important in order to make it successfully. This is to prevent any loss for doing starting a business. Besides that, a well planning business can also reduce the risk of the business as well. So, before we start a business or any important things in our life, we need to plan it well before we start to do. 






How am I going to apply the knowledge that I've gained?
I will apply the knowledge I gain in this week which is PLANNING in my life from now on. I will plan my future and my studies well just like we plan our business for the project. I will also consider about the time for studies and also entertainment everyday in order to balance my studies and my entertainment. I will also include sports in my daily lifestyle because in order to maintain a healthy body, we need to exercise frequently every week. So, I will plan my lifestyle properly and nicely so that my life will be easier in the next ten years. 

Post 4 (KEE 120057)

On the sixth week, we are taught on how to begin our business. There are four aspects which we should take care of before starting our business, i.e. business capital, product or service, business location and business facility. Negotiation is inevitable in the process of gaining customer and partnership. It is therefore an important skill for an entrepreneur to acquire. An entrepreneur must do some preparation before negotiation to give a positive first impression.  Those include attire, posture, gesture, eye contact and body odour. In the process of negotiation, an entrepreneur should present the strength of his product or service, be calm and tolerate in accepting comment from others. He should also choose the media of communication smartly. There are some difficulties to communicate effectively, for example language of communication, emotion of the speaker, subjective opinion of listener and timing. We should use different approaches when we deal with different situations.

I realize that this course does not solely impart knowledge of entrepreneurship. What is being taught in the lesson can be applied somewhere else. In fact, if we practise the concepts being taught properly, we may become a successful man rather than a successful entrepreneur.

I can apply the negotiation skills to communicate effectively when someone disagrees with my idea.

Week 6(28/3/2013) KEE120052

Finally, this week we were taught about how to start a business. After all those week on preparation for starting a business, eventually it comes to a real start on this sixth week.

We have been taught a lot on starting a business, the main concept to use is the 5W1H concept, that are WHO, WHERE, WHEN, WHAT, WHICH and  HOW. this is to identify the problems before and after starting up our business. other than that, we also learnt:

• The existing market
• Business facilities (must be easily be found by customers)
• Negotiation skills (before negotiate, make sure we have proper dressing, appearance and style)
• Communication skills

With these skills above, I will not only apply them in my entrepreneurship, in fact i will also apply in daily life. For example, with the negotiation skills obtained, i will apply it in many ways such as bargaining with other people. With the communication skills, i can communicate well with others, which can help me to deliver my message effectively to my audience.

Week 6 (28/3/2013) KEE120049

Things that I have learnt from this week lesson:
I have learnt about the skill to start a business.
First of all we need to identify the resources required. There are several techniques to identify the resources required:
1. Business capital
2. Product or service
3. Business location
4. Business facilities
5. Negotiation skills
6. Preparation for negotiation
7. Negotiation process





How do I feel about the things that I've learnt from this week's lecture?
I feel that I learnt the ways to identify the resources for starting my business and I can manage to find the best choice for starting my business which will bring me the biggest profit in my life. I have also feel that after learning this lesson, I will be able to be a successful business man.



How am I going to apply the knowledge that I've gained?
I will use the technique to find the most suitable business that I can start in a certain area such as around the UM and also around my housing area.

WEEK 6 (28th March 2013) KEE120047

During week 5 , i was exposed to the topic "SKILLS TO START A BUSINESS"during my entrepreneur class.

Our objectives are : To identify resources required to start a business.
: To know the techniques of effective negotiation skills.
: To know the methods of effective communication.

Negotiation skills are purchasing and and selling requires negotiation process involving preparations, planning, strategies, tactics and communication skills to effect a two way agreement.
1.Involving at least two parties.
2.Agenda, objective and timing.
3.Conducive environment.
4.Elected representative has authority to decide.
5.Internal negotiations or external negotiations.

Preparations of negotiation. Focus on non-verbal communication:
1. Dressing, appearance and style.
2. Way of walking.
3. Gestures.
4. Body language, way you seat yourself, and posture.
5. Eye contact.
6. Body odour.

Exhibit positive first impressions, cooperate, avoid threatening situations and secure important information on the other side:
1. Annual growth,sale trend, installment, subcontract costs.
2. Secure evidence of business documents like sales invoices and inventories.

What I feel about this topic is in order to start a business successfully, we should master the techniques of effective negotiation skills.

I will try to apply these knowledge if I can be an investor in the future.

Thank You.

(28-3-13)Week 6__KEE120059

How to Kick start your business.

   Weeks after weeks, finally it's the time we learn how to set up and start a business. Anyhow, I find the learnings of the week really did give us a brief idea of what to prepare and which part to be mindful and aware of. It's somehow sharing some similarities and applying the concepts in the NINE BUILDING BLOCKS OF BUSINESS MODEL CANVAS we have been introduced to few weeks ago.

   For a successful business start up, we must make sure that we have prepared to the ground for the business before we invest to confirm better available profit. We should always stay clear of what's the resources we might need for our business. A very simple technique must be applied- 5W1H technique.(What, Which, Where, When, Who, How) 

  

   Furthermore, we must be aware of our business capital. Business capitals we need are not solely in term of financial, but in term of workforces, raw materials and equipments too. We must always have to calculate our available capital and necessary capital. Insufficient capital or even over floated capital sometimes may lead to bad business start up and eventually another failure of running business.

  Besides, localised and targeted products and services with high value propositions that would satisfy aimed customer segment will be vitally important for a successful business. We must always make sure our own best way to these 3 S-SUPPLIES, STORE & SALES. Be clear, firm and strong of getting a reason why smart customers on market nowadays what to buy your products or services.

  And also, to start a business, we must first get a business location in which our customer segments could easily get to us. It can be a shop in housing area, a booth in hypermarket, a small stall in shopping complex, or simply  a virtual internet store. Then, we must prepare ourselves for our business by getting enough business facilities such as lay out facilities, basic facilities and basic equipments for initial starting of our business and basic documents required.

   And now, we came to the most crucial and determining part of all the needs of business running- Communication skills & negotiating skills. These 2 vital skills and too fluid and dynamic to describe as we know for every single case in daily life or businesses, different communication skills and negotiating behaviour would be required. Furthermore, it will have to change according to different persons you speak to or try to persuade. Anyhow, for every single case, we must always remember to stay calm and analyse the situation diligently. Always be clear of our objectives and expected outcome of meetings. 

Yi An