This week I our group had done the final presentation for our business activity project. We had done the final presentation at IT building room B0030 from 12.30pm until 2.00pm. Before we do the final presentation, we need to submit the final business activity report and CD that include the final report, final presentation materials, progress report, and etc.
The presentation in class need to done for 30 minutes per group. When do the presentation, we need to present the power point presentation, video or multimedia presentation, and the website presentation. We present about the activity that we done when doing our business activities. There are many interesting condition happen when we done the business activity. For the example, one time when we are take care of our booth Varsity Mall, there are foreign student want to buy the raya card to their friend, but they didn’t know to read the Malay language. They ask we either have raya card in the English language. Unfortunately, we just have the card in the Malay language. Besides that, they also want us to transfer and help them to write the greeting in Malay language. But we didn’t really understand their request.
For the video presentation, we record the situation when selling the raya card, and the way that went to our booth. We also had shown the web site for the presentation. From the web site, people can know the products that sell by our group; they can contact us when they interest to buy our product. In addition, the price of the different product also put at the web. So that people can know the price without any problem.
Lastly, we enter the last class for our IT Entrepreneurship. We submit the peer evaluation form to our lecturer. Madam Rafidah told to us the objective of the course. Before we end the class, our group member and I were took the photo with madam Rafidah.
Monday, 26 October 2009
Saturday, 17 October 2009
Student Weekly Blog (11)
This week our group will work on the final report for the presentation. We also need to do the video for the presentation. We had finished done the website for the business activity, the web of our group is www.bahau.net/dediserve. Besides that, our group had done the last weekly report, which is about the last progress of business activity.
This week I had learned from my IT entrepreneurship lecturer, madam Rafidah about the good final report. At the class, madam showed for us the example of good final report. She bought four examples of final report to show for us, there are three types of good final report and one of bad final report. The report is good because it has search information, and has the thing that needed by lecturer. While the bad report is didn’t put introduction, didn’t put something that especially require by lecturer, and collect anything that didn’t useful or necessary then put it together to the report.
Besides that, our lecturer also showed to us the video presentation from her previous student. She told to us the video presentation does not need to put the entire picture that took when done the business activities. If we put the entire picture, it will make the presentation become bad. I knew that our assignment needs to burn into the disk. The good example of slide presentation must have interest, colorful, and more clearly. While, for the final report, it must follow the format of report, must clearly, and look tidiness.
At this week, our group had done one meeting at the foyer library. We discuss about the amount that we gain from the business activity. We also claim our expenditure for the business activity. After that, we discuss the final report that we need to pass up, and do the presentation.
This week I had learned from my IT entrepreneurship lecturer, madam Rafidah about the good final report. At the class, madam showed for us the example of good final report. She bought four examples of final report to show for us, there are three types of good final report and one of bad final report. The report is good because it has search information, and has the thing that needed by lecturer. While the bad report is didn’t put introduction, didn’t put something that especially require by lecturer, and collect anything that didn’t useful or necessary then put it together to the report.
Besides that, our lecturer also showed to us the video presentation from her previous student. She told to us the video presentation does not need to put the entire picture that took when done the business activities. If we put the entire picture, it will make the presentation become bad. I knew that our assignment needs to burn into the disk. The good example of slide presentation must have interest, colorful, and more clearly. While, for the final report, it must follow the format of report, must clearly, and look tidiness.
At this week, our group had done one meeting at the foyer library. We discuss about the amount that we gain from the business activity. We also claim our expenditure for the business activity. After that, we discuss the final report that we need to pass up, and do the presentation.
Student Weekly Blog (10)
This week I also will work on the slide of preparing for and evaluating the challenges of growth. I will read the slide, and do some note that related to the chapter.
I knew that there were challenges of growth. Although growth has many advantages, it has many challenging and rigorous process. Firm growth often includes the raising additional capital, recruiting new employees, learning how to supervise a larger organization, accepting more risk, and increased anxiety for the owners and managers of a firm. There is also having many managerial capacity problems. The problem with managerial capacity is that firms are not always prepared or able to grow because of limited “managerial capacity.”
Managerial capacity problem in a firm’s administrative framework is a complex problem. It is because if a firm has insufficient managerial services to properly implement its new product and service ideas, it will not grow up. The additional challenges is when a firm grows, it is faced with the dual challenges of adverse selection and moral hazard. Adverse selection means that as the number of employees a firm needs increases. While the moral hazard means that as a firm grows and adds personnel, the new hires typically do not have the same ownership incentives as the original founders.
The typical challenges of growing a firm are the cash flow management, price stability, quality control, and capital constraints. Capital constraints are an ever-present problem for growing firms. The growth increases rather than decreases the challenges in this area. Besides that, there are also myths about growth. The first myth is growth companies are predominately technology and health care companies. While the second myth is rapid-growth firms emerge only in rapid-growth industries. The third myth is to grow quickly; you must have a first-mover advantage.
The attributes of successful growth firms are growth-oriented vision, commitment to growth, business growth planning, participation in business alliances, and geographic location that facilities knowledge absorption. For the growth-oriented vision, it is clearly communicates to relevant stakeholders the important of growth to an organization. The real mission will successful and it needs to change for more suitable if want to success in growth firms. Commitment to growth is a drive and commitment to achieve growth. It is frequently mentioned as a necessary precursor for successful growth. Business growth planning is a plan that helps a firm organize for growth and address the relevant managerial and strategic issues necessary to maintain growth.
Besides that, participation in business alliances will also help success in growth firm. Business alliances help firms share costs, increase speed to market, gain economies of scale, and gain access to essential resources, knowledge, and foreign markets. Ggeographic location that facilitates knowledge absorption is a firm located in a geographic area that is in close proximity to important external sources of knowledge. It will have better to access the knowledge.
I knew that there were challenges of growth. Although growth has many advantages, it has many challenging and rigorous process. Firm growth often includes the raising additional capital, recruiting new employees, learning how to supervise a larger organization, accepting more risk, and increased anxiety for the owners and managers of a firm. There is also having many managerial capacity problems. The problem with managerial capacity is that firms are not always prepared or able to grow because of limited “managerial capacity.”
Managerial capacity problem in a firm’s administrative framework is a complex problem. It is because if a firm has insufficient managerial services to properly implement its new product and service ideas, it will not grow up. The additional challenges is when a firm grows, it is faced with the dual challenges of adverse selection and moral hazard. Adverse selection means that as the number of employees a firm needs increases. While the moral hazard means that as a firm grows and adds personnel, the new hires typically do not have the same ownership incentives as the original founders.
The typical challenges of growing a firm are the cash flow management, price stability, quality control, and capital constraints. Capital constraints are an ever-present problem for growing firms. The growth increases rather than decreases the challenges in this area. Besides that, there are also myths about growth. The first myth is growth companies are predominately technology and health care companies. While the second myth is rapid-growth firms emerge only in rapid-growth industries. The third myth is to grow quickly; you must have a first-mover advantage.
The attributes of successful growth firms are growth-oriented vision, commitment to growth, business growth planning, participation in business alliances, and geographic location that facilities knowledge absorption. For the growth-oriented vision, it is clearly communicates to relevant stakeholders the important of growth to an organization. The real mission will successful and it needs to change for more suitable if want to success in growth firms. Commitment to growth is a drive and commitment to achieve growth. It is frequently mentioned as a necessary precursor for successful growth. Business growth planning is a plan that helps a firm organize for growth and address the relevant managerial and strategic issues necessary to maintain growth.
Besides that, participation in business alliances will also help success in growth firm. Business alliances help firms share costs, increase speed to market, gain economies of scale, and gain access to essential resources, knowledge, and foreign markets. Ggeographic location that facilitates knowledge absorption is a firm located in a geographic area that is in close proximity to important external sources of knowledge. It will have better to access the knowledge.
Student Weekly Blog (9)
This week, I will work on the note that giving by my IT Entrepreneurship lecturer, madam Rafidah. At this week, our group had finished done our business activity.
At the end of this week, I had learned the preparing for and evaluating the challenges of growth. The objectives that I learned from this chapter are to explain the term sustained growth, describe the potential downsides to firm growth, and discuss the seven most common reasons firms pursue growth. Besides that, I also learned how to explain the advantages of having scalable business model, describe the basic idea behind benchmarking and how benchmarking can be used to help a firm executes a successful growth strategy.
There are two types of growth, which are nature of firm growth and double-edged sword. Nature of firm growth is the most entrepreneurial firms want to grow. From this firm, growth in sales revenue is exciting and is an important indicator of an entrepreneurial venture’s potential for future success. The second type of growth is double-edged sword. Growth is an indication of a firm’s success; it can threaten the stability of a firm’s operations in every area.
The reasons for firm growth are to capture economies of scale, capture economies of scope, execute a scalable business model, and be the market leadership. Economies of scale will occur when increasing production lowers the average cost of each unit produced. Market leadership will motivate a firm to grow because they will be recognized as the brand leader when they are successful. Besides that, there are also another three reasons for growths which are influence, power, and survivability, need to accommodate the growth of key customers, and the ability to attract and retain talented employees. I also learned the benchmarking that against successful growth firms. I knew that, by benchmarking, a firm can improve the quality of an activity by identifying and copying the methods of other firms that have been successful in that area.
At the end of this week, I had learned the preparing for and evaluating the challenges of growth. The objectives that I learned from this chapter are to explain the term sustained growth, describe the potential downsides to firm growth, and discuss the seven most common reasons firms pursue growth. Besides that, I also learned how to explain the advantages of having scalable business model, describe the basic idea behind benchmarking and how benchmarking can be used to help a firm executes a successful growth strategy.
There are two types of growth, which are nature of firm growth and double-edged sword. Nature of firm growth is the most entrepreneurial firms want to grow. From this firm, growth in sales revenue is exciting and is an important indicator of an entrepreneurial venture’s potential for future success. The second type of growth is double-edged sword. Growth is an indication of a firm’s success; it can threaten the stability of a firm’s operations in every area.
The reasons for firm growth are to capture economies of scale, capture economies of scope, execute a scalable business model, and be the market leadership. Economies of scale will occur when increasing production lowers the average cost of each unit produced. Market leadership will motivate a firm to grow because they will be recognized as the brand leader when they are successful. Besides that, there are also another three reasons for growths which are influence, power, and survivability, need to accommodate the growth of key customers, and the ability to attract and retain talented employees. I also learned the benchmarking that against successful growth firms. I knew that, by benchmarking, a firm can improve the quality of an activity by identifying and copying the methods of other firms that have been successful in that area.
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