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.
Friday, 31 July 2009
Student Weekly Blog Report (3)
This week I actually have two meeting with my group members for two subjects on Tuesday, 28 July. But when I was finished my class on Sunday, 26 July, our university suddenly needed to close for one week, because of H1N1 that occur in our university. So our meeting needs to cancel because they were went to their home. Most of my friends were gone to their home after received the news that they cannot go out from university after 8.00pm. But after that, I knew that was rumor, we can went home at tomorrow. However, I still stay at my hostel because of my hometown was at Sarawak.
I had accomplished the note that needed to do on the holiday. Besides that, I also sent the proposal that I done to my group leader of IT Entrepreneurship through the e-mail. I hope that she can understand the thing that I want to explain. Cause of this one week holidays, I afraid that, we need to rush to finish our assignment. It is because, so many assignment and quiz that we need to handle in one week. I afraid there were no many time to finish it.
For this week, I had learned about business plan that need to do when we want to do a business. Business plan is a written narrative, it typically 25 to 35 pages long, that describes what a new business plans to accomplish. Besides that, the business plan also is a dual-purpose document that used in both inside and outside the firm. There are two primary audiences for a firm’s business plan, one of the audience is firm’s employees, will another one is investors and other external stakeholders.
The first guideline for writing business plan is structure of the business plan. To make the best impression, business plan should follow a conventional structure, such as the outline for the business plan. There are many software packages available that employ an interactive, menu-driven approach to assist in the writing of a business plan. We also need the sense of excitement that along with facts and figures. Business plan needs to project a sense of anticipation and excitement about the possibilities that surround a new venture. The second guideline for writing a business plan is content of the business plan; the business plan should have clear and concise information on all the important aspects of the proposed venture. There are three types of business plan, which are summary business plan, full business plan, and operational business plan.
In an investor presentation, it must include the ten power point slides, such as title slide, problem, solution, business model, management team, industry and target market, competition, intellectual property, financial projections, and current status, amount of money requested, and projected use of funds.
I had accomplished the note that needed to do on the holiday. Besides that, I also sent the proposal that I done to my group leader of IT Entrepreneurship through the e-mail. I hope that she can understand the thing that I want to explain. Cause of this one week holidays, I afraid that, we need to rush to finish our assignment. It is because, so many assignment and quiz that we need to handle in one week. I afraid there were no many time to finish it.
For this week, I had learned about business plan that need to do when we want to do a business. Business plan is a written narrative, it typically 25 to 35 pages long, that describes what a new business plans to accomplish. Besides that, the business plan also is a dual-purpose document that used in both inside and outside the firm. There are two primary audiences for a firm’s business plan, one of the audience is firm’s employees, will another one is investors and other external stakeholders.
The first guideline for writing business plan is structure of the business plan. To make the best impression, business plan should follow a conventional structure, such as the outline for the business plan. There are many software packages available that employ an interactive, menu-driven approach to assist in the writing of a business plan. We also need the sense of excitement that along with facts and figures. Business plan needs to project a sense of anticipation and excitement about the possibilities that surround a new venture. The second guideline for writing a business plan is content of the business plan; the business plan should have clear and concise information on all the important aspects of the proposed venture. There are three types of business plan, which are summary business plan, full business plan, and operational business plan.
In an investor presentation, it must include the ten power point slides, such as title slide, problem, solution, business model, management team, industry and target market, competition, intellectual property, financial projections, and current status, amount of money requested, and projected use of funds.
Student Weekly Blog Report (2)
This week I will do the note for IT Entrepreneurship. Besides that, I also have the meeting with my group, for discuss the four application that based on theme for business ideas proposal.
I had accomplished the two reports that need to do, after I went to the workshop that presented by Dr. Ahmad Affendi Shabdin and Dr.Siti Jamilah Bidin. I also had put my picture to my blog, and dispose a little bit for the blog.
My most concern thing was the proposal that need to do. I had done the proposal; it is about education and lesson to people from the animation. The theme of the proposal is One Malaysia. Besides that, I also concern to the report that I done after listened the workshop, because I didn’t used any format to write the report. I just wrote the report like writing normal essay.
At the end of week reflections, I learned about creativity, the business idea, and opportunity analysis. There are many sources of new idea such as consumers, the informal monitoring of potential ideas and needs; we can analysis uncovers ways to improve offerings that may result in a new product or services from the existing products and services; and distribution channels that help market to newly the developed products. Besides that, federal government and research and development also are sources of new ideas.
There are three methods of generating new ideas. Focus group is the one of the idea. Focus groups mean that moderator focuses discussion of the group in a directive or nondirective manner. Brainstorming and problem inventory analyses are another two of new ideas. Brainstorming is the method that allows people to be stimulated to greater creativity, while for the problem inventory analysis, it like the analogous to focus groups and can be used to test a new product idea.
I also learned that creativity is an important attribute of a successful entrepreneur, and it is tend to decline with age, education, lack of use and bureaucracy. There are many type of creative problem solving techniques. For the example, brainstorming is used in creative problem solving and idea generation; reserve brainstorming is a group of method for obtaining new ideas focusing on the negative; brainwriting is the form of written brainstorming; and Gordon method is for developing new ideas when the individuals are unaware of the problem.
For the market and opportunity to do the business, we need to address the size and the characteristics of the market. Market data should be collected for at least three years. Besides that, it can be done through gathering as mush secondary data as possible. Entrepreneur can determine if the market is large enough and suitable to warrant time or not to enter the market. Entrepreneur and the entrepreneurial team need to be assessed at least one person on the team needs to have experience in the industry area of the new idea.
I had accomplished the two reports that need to do, after I went to the workshop that presented by Dr. Ahmad Affendi Shabdin and Dr.Siti Jamilah Bidin. I also had put my picture to my blog, and dispose a little bit for the blog.
My most concern thing was the proposal that need to do. I had done the proposal; it is about education and lesson to people from the animation. The theme of the proposal is One Malaysia. Besides that, I also concern to the report that I done after listened the workshop, because I didn’t used any format to write the report. I just wrote the report like writing normal essay.
At the end of week reflections, I learned about creativity, the business idea, and opportunity analysis. There are many sources of new idea such as consumers, the informal monitoring of potential ideas and needs; we can analysis uncovers ways to improve offerings that may result in a new product or services from the existing products and services; and distribution channels that help market to newly the developed products. Besides that, federal government and research and development also are sources of new ideas.
There are three methods of generating new ideas. Focus group is the one of the idea. Focus groups mean that moderator focuses discussion of the group in a directive or nondirective manner. Brainstorming and problem inventory analyses are another two of new ideas. Brainstorming is the method that allows people to be stimulated to greater creativity, while for the problem inventory analysis, it like the analogous to focus groups and can be used to test a new product idea.
I also learned that creativity is an important attribute of a successful entrepreneur, and it is tend to decline with age, education, lack of use and bureaucracy. There are many type of creative problem solving techniques. For the example, brainstorming is used in creative problem solving and idea generation; reserve brainstorming is a group of method for obtaining new ideas focusing on the negative; brainwriting is the form of written brainstorming; and Gordon method is for developing new ideas when the individuals are unaware of the problem.
For the market and opportunity to do the business, we need to address the size and the characteristics of the market. Market data should be collected for at least three years. Besides that, it can be done through gathering as mush secondary data as possible. Entrepreneur can determine if the market is large enough and suitable to warrant time or not to enter the market. Entrepreneur and the entrepreneurial team need to be assessed at least one person on the team needs to have experience in the industry area of the new idea.
Wednesday, 22 July 2009
Student Weekly Blog Report
This week, I would like to do my report. I had gone to the study skills workshops planner for first semester session 2009/2010. For this, I will write the report about the knowledge that I get from the facilitator. Besides that, I also will design my blog and put something information to my blog, so that my lecturer and friends will know more about me.
I had gone to listen the workshop, which was presented by Dr.Ahmad Affendi Shabdin, at PSB Auditorium, on 14 July. It was about presentation skills. After that, I continue to listen the workshop by Dr.Siti Jamilah Bidin, it was about How to Use Good Grammar in Spoken and Written Academic Texts.
My most important concerns are my assignment and group project. Every new semester, there was away having many assignment and group project to do. I very afraid that I can’t tackle so must things to do, but I still try doing my best. I think that, there is nothing impossible.
I had learned the meaning of entrepreneurship in the lecture. I learn that, entrepreneurship is the process of creating something new and it also take risks. When entrepreneur successful in their project, they will get reward. Before being entrepreneur, they must have four aspects. Those are creation process, require devotion of time and effort, rewards of being an entrepreneur, and require assumption of necessary risks. Besides that, people want to become an entrepreneur because they desire to become their own boss, pursue their own ideas, and financial reward. But to become the successful entrepreneur, they must away passion for the business, tenacity despite failure, take attention to product or customer focus, and execution intelligence.
I also learned make meaning from the video that show by lecturer. From the video; I learned that, there are three key to start the organization. We must increase the quality life, right a wrong, and prevent the end of something good. We need to comprehend the right from the wrong. So we can improve the quality of the organization. Besides that, I also told by my lecturer that, we can’t only know the way to earn the money. We also must help the person that needs our help, like donate the money to the old folk, orphanage, and etc. I think that it is good to help person than earn many money to buy things that not very important. We can earn again our money when it is not enough, but we can’t buy life with money.
I had gone to listen the workshop, which was presented by Dr.Ahmad Affendi Shabdin, at PSB Auditorium, on 14 July. It was about presentation skills. After that, I continue to listen the workshop by Dr.Siti Jamilah Bidin, it was about How to Use Good Grammar in Spoken and Written Academic Texts.
My most important concerns are my assignment and group project. Every new semester, there was away having many assignment and group project to do. I very afraid that I can’t tackle so must things to do, but I still try doing my best. I think that, there is nothing impossible.
I had learned the meaning of entrepreneurship in the lecture. I learn that, entrepreneurship is the process of creating something new and it also take risks. When entrepreneur successful in their project, they will get reward. Before being entrepreneur, they must have four aspects. Those are creation process, require devotion of time and effort, rewards of being an entrepreneur, and require assumption of necessary risks. Besides that, people want to become an entrepreneur because they desire to become their own boss, pursue their own ideas, and financial reward. But to become the successful entrepreneur, they must away passion for the business, tenacity despite failure, take attention to product or customer focus, and execution intelligence.
I also learned make meaning from the video that show by lecturer. From the video; I learned that, there are three key to start the organization. We must increase the quality life, right a wrong, and prevent the end of something good. We need to comprehend the right from the wrong. So we can improve the quality of the organization. Besides that, I also told by my lecturer that, we can’t only know the way to earn the money. We also must help the person that needs our help, like donate the money to the old folk, orphanage, and etc. I think that it is good to help person than earn many money to buy things that not very important. We can earn again our money when it is not enough, but we can’t buy life with money.
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