This week I will work on the slide that given by lecturer, about feasibility analysis. Before we start the lecture, our lecturer was told us to apply the knowledge that we learned from the lecture when doing some business idea, and business activity. We needed to take the lecture into mind, so it will apply useful knowledge for us whatever we are doing. When do the business idea, we must solve the problem that occur to us.
Our group had finished applied the license for do the business activity. We also had done the meeting for discuss the problem that occur for the place to do the business activity, and some plan to promote our goods. Business activity of our group is to sell the raya cards, and the favorite food to Malay culture, the “buah kurma”.
In the end of this week, I known that before do the business activity, we need to analysis. I had learned that what feasibility analysis is. Feasibility analysis actually is the process of determine whether a business idea is viable or not. It is the preliminary evaluation of a business idea that conducted the purpose to determine whether the idea is worth pursuing. Feasibility analysis takes the guesswork to a certain degree that out of a business launch, and provides an entrepreneur with a more secure notion whether a business idea is feasible or viable.
There are four forms of feasibility analysis, such as product or service feasibility analysis, industry or market feasibility analysis, organizational feasibility analysis, and financial feasibility analysis. Product or service feasibility analysis is an assessment of the overall appeal of the product or service being proposed. Before a prospective firm rushes a product or service into development, it should be confident that the product or service is what its prospective customers want.
Industry or market feasibility analysis is an assessment of the overall of the market for the product or service being proposed. There are three primary issues that a proposed business needs to consider, they are industry attractiveness, market timeless, and the identification of a niche market. It means that, we need to know where the suitable place and the time that can do the business.
Organizational feasibility analysis is concerned with determining whether the business itself has sufficient skills and has the resources that bring a particular product or service idea to market successfully. For this we need to consider whether we have enough of resource to do the business. There are two primary issues to consider in this organizational feasibility analysis. They are management prowess, and resource sufficiency.
For the financial feasibility analysis, quick financial assessment is usually sufficient. It basically talks about how much you can make it. Before we starting the business, we must consider the cost that we need to spend. In the financial feasibility analysis, the most important issues need to consider are total start-up cash needed, financial performance of similar businesses, and the overall attractiveness of the proposed venture.
Saturday, 29 August 2009
Sunday, 16 August 2009
Student Weekly Blog Report (5)
This week I will read through the note that given by my IT Entrepreneurship lecturer, madam Rafidah Adbul Razak. I will refresh my mind about the lecture that told by my madam.
I had pass out the two reports that had done after I went to workshop which conducted by University. Besides that, our group were started to do some preparation for our business activity. We wanted to open stall at Varsity Mall for do our business activity.
This week I had learned about debriefing for project business idea. In assessment, we need to do the business idea, and then we also need to continue do peer evaluation, report, and presentation. In the learning outcomes, there are included content knowledge, process skills, and habits of mind.
In content knowledge, we need creativity, idea, and opportunity analysis. From this, we need to know the methods of generating ideas and innovation, creative problem solving, and opportunity recognition. We can generate ideas and innovation from the exercise that given by lecture. We will try to come up some idea to solve the exercise, and recognize the question is difficult or not. Besides that, there are three major hurdles to overcome before any idea can come to fruition. The main challenge that needs to overcome is identify a problem. The second challenge is ideas generation, and the third challenge is ideas selection.
I also learned that good business idea should solve problems or provide a need, improve a better way to accomplish task, and cause people want to buy. If we have many ideas, we must choose which idea is the best. There are many examples of value propositions, such as Head and Shoulders:”You get rid of dandruff”, Olay:”You get younger-looking skin”, and Air Asia:”Everyone can fly”.
There are three process skills, such as communication, self-management, and group process. In communication, we need always give some opinion; speaking; and do publishing presenting. For self-management, we need to take attention on time and task management. For the example, we must take responsibility to manage the instruction that given by lecturer. While in group process, it is about the teamwork and collaboration. We must learn, give idea, and work together with each other to solve problem that occur. In addition, habit of minds is about reflective on learning. First, we must creative, imagining, and innovating. Secondly, we must know applying knowledge to new situations. Thirdly, we need to think and communicate clarity.
Project demonstrates is about real project or call “Real World”. It also realistic to create own motivation, need to use imagination in thinking, and it is under conditions of uncertainty. Passionate is most important that need in doing the project demonstrates.
I had pass out the two reports that had done after I went to workshop which conducted by University. Besides that, our group were started to do some preparation for our business activity. We wanted to open stall at Varsity Mall for do our business activity.
This week I had learned about debriefing for project business idea. In assessment, we need to do the business idea, and then we also need to continue do peer evaluation, report, and presentation. In the learning outcomes, there are included content knowledge, process skills, and habits of mind.
In content knowledge, we need creativity, idea, and opportunity analysis. From this, we need to know the methods of generating ideas and innovation, creative problem solving, and opportunity recognition. We can generate ideas and innovation from the exercise that given by lecture. We will try to come up some idea to solve the exercise, and recognize the question is difficult or not. Besides that, there are three major hurdles to overcome before any idea can come to fruition. The main challenge that needs to overcome is identify a problem. The second challenge is ideas generation, and the third challenge is ideas selection.
I also learned that good business idea should solve problems or provide a need, improve a better way to accomplish task, and cause people want to buy. If we have many ideas, we must choose which idea is the best. There are many examples of value propositions, such as Head and Shoulders:”You get rid of dandruff”, Olay:”You get younger-looking skin”, and Air Asia:”Everyone can fly”.
There are three process skills, such as communication, self-management, and group process. In communication, we need always give some opinion; speaking; and do publishing presenting. For self-management, we need to take attention on time and task management. For the example, we must take responsibility to manage the instruction that given by lecturer. While in group process, it is about the teamwork and collaboration. We must learn, give idea, and work together with each other to solve problem that occur. In addition, habit of minds is about reflective on learning. First, we must creative, imagining, and innovating. Secondly, we must know applying knowledge to new situations. Thirdly, we need to think and communicate clarity.
Project demonstrates is about real project or call “Real World”. It also realistic to create own motivation, need to use imagination in thinking, and it is under conditions of uncertainty. Passionate is most important that need in doing the project demonstrates.
Saturday, 8 August 2009
Student Weekly Blog Report 4
This week I will finish my assignment that given by my discrete structure lecturer. I also will read the note that given by Madam Rafidah in learncare, and do some note for the topic that I had learned.
I had gone to the third workshop that presented by Dr.Shaidah Jusoh at PSB Auditorium, on 5 August, 10.00 to 11.00am. The title that presented by her was about “How to improve your memory”. Besides that, this week our group had done the presentation about four applications that based on theme One Malaysia for business idea proposal.
This week I learned about the oral presentation. For the preparation and delivery of presentation, we need to write a script, know subject method, practice the script and keep it around for quick reference during talk. We need to step up an outline of our talk and cue cards, then practice and bring it for reference, and use them during talk.
There are five actions need to take attention when delivering an oral presentation, such as timing, volume, pacing, speed, gestures and posture, and verbal crutches. For the timing, we must make sure to keep within the 7-minutes time limit. Anything under 6 minutes is also a problem. We usually are giving 15 minutes to present the assignment those more than 10 pages. While, time for class presentation is usually around 10 minutes, if over than 10 minutes, that means the person didn’t practice for the presentation. We can do some rehearsal, write a script, or find some other way to get the timing right.
For volume, we must speak loud enough so that all of our audiences can hear us. If sound not loud, we can use microphone to speech. We might find some way to practice speaking a little louder in the days before the oral presentation. Sometimes, someone will talk too fast when they are nervous. These make audience hard to follow. If you speak a bit more slowly and deliberately than you do in normal conversation, audience will more understand what you want to present.
Besides that, we must avoid always do many gestures and posture. We can plan to keep our hands clasped together or holding onto the podium and only occasionally making some gesture. We need to avoid give our back to the audience, and avoid slouching at the podium and leaning against the wall. We also need to watch out too many nervous verbal habits like “uh,” “you know,” and “okay”. Before the oral presentation, we need to practice speaking without nervous verbal, so we can more confident do the presentation.
I had gone to the third workshop that presented by Dr.Shaidah Jusoh at PSB Auditorium, on 5 August, 10.00 to 11.00am. The title that presented by her was about “How to improve your memory”. Besides that, this week our group had done the presentation about four applications that based on theme One Malaysia for business idea proposal.
This week I learned about the oral presentation. For the preparation and delivery of presentation, we need to write a script, know subject method, practice the script and keep it around for quick reference during talk. We need to step up an outline of our talk and cue cards, then practice and bring it for reference, and use them during talk.
There are five actions need to take attention when delivering an oral presentation, such as timing, volume, pacing, speed, gestures and posture, and verbal crutches. For the timing, we must make sure to keep within the 7-minutes time limit. Anything under 6 minutes is also a problem. We usually are giving 15 minutes to present the assignment those more than 10 pages. While, time for class presentation is usually around 10 minutes, if over than 10 minutes, that means the person didn’t practice for the presentation. We can do some rehearsal, write a script, or find some other way to get the timing right.
For volume, we must speak loud enough so that all of our audiences can hear us. If sound not loud, we can use microphone to speech. We might find some way to practice speaking a little louder in the days before the oral presentation. Sometimes, someone will talk too fast when they are nervous. These make audience hard to follow. If you speak a bit more slowly and deliberately than you do in normal conversation, audience will more understand what you want to present.
Besides that, we must avoid always do many gestures and posture. We can plan to keep our hands clasped together or holding onto the podium and only occasionally making some gesture. We need to avoid give our back to the audience, and avoid slouching at the podium and leaning against the wall. We also need to watch out too many nervous verbal habits like “uh,” “you know,” and “okay”. Before the oral presentation, we need to practice speaking without nervous verbal, so we can more confident do the presentation.
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