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LEARNING LOG

WEEK 10 (16 NOVEMBER & 19 NOVEMBER)


For this week topic is the Small & Medium Enterprise. Most SME businesses looking for
venture money aren't going to find big firms interested in what they're doing, and that's where
the invisible venture capital market becomes critical; this highly elusive source of financing
is very unstructured and largely informal, comprising a diverse set of high net worth
individuals. Part that I understand is every part of entrepreneurship must be started from the
small and medium enterprise. So, SME sector was one of the factors to success in this sector.
If we dont have an SME seller in our area, raw material and capital for certain big business
are depend on the SME raw material.
WE HAVE DONE WITH ALL ABOUT OUR SYLLABUS. What can I conclude that via
learning an entrepreneurship course, when we are still studying, we can apply to use that
entrepreneurship skill and knowledge to start a new branding business in the market. So with
the entrepreneurship knowledge, the graduate student are not difficult to think about where
companies can take their to be employed, what company who are select them and many more
problems. Entrepreneurship can help the unemployment person to solve their problem
because they just need a model and a skill that, can they be used to start a small business as
an entrepreneur.
Other than that, for this subject we must to look closer into the entrepreneurial individual and
then we can develop an understanding of our aptitude for entrepreneurship. It also can help us
to build skill for identifying, analysing , and try to create change of entrepreneurial
opportunities. As example, like our assignment about business plan can develop collaboration
skills, improve synthesis and presentation skills as class giving, receiving and acting upon
constructive classmate feedback.

LEARNING LOG
WEEK 9 (9 NOVEMBER & 12 NOVEMBER)
During this week I have learned about the global aspect that influence of entrepreneurship on
9 November, plus a chapter of e-commerce relations to entrepreneur.
So, for this week I understand that global aspect can improve and help entrepreneurs to
develop a connection with a business within the country or internationally. Many strategies
that entrepreneurs can be used to introduce their business to global like via the web, joint
venture, import export and much more. The easiest way to enter the global market is the
entrepreneur have to develop a new product that suitable to distribute to all world markets. So
from this way, your business cam makes a good connection to all business country. But,
anything that we do still have a barrier to get in. It same cases to enter the world market,
many barriers like politic and cultural that important for entrepreneurs to focus before doing
business to global. Beside that many business have done their business via online because the
Internet is the most important part in our life in this era. So, many business company has been
decided to sell their product via e-commerce way to make the transaction become faster and
easier for the consumer and owner. Other than that, via online, business become to be a lower
cost transaction to save our time, money and create many opportunities.
In this chapter, I can reflect that if I want to do the business in the future I will use a the
online way to be my first step to enter the global.It is because if we used this advantage via
using website only we can make a large popular business in the international market even
though you dont have a enough capital to be doing it.

LEARNING LOG
WEEK 8 (2 NOVEMBER & 5 NOVEMBER)
This week's 3 chapter on topic Strategic Management and Women Entrepreneur has been
covered.
For those of this three topic, I understand that if we want to develop a company, we need
know a right mission, mission, identifying the SWOT aspect in internal and external based
and also about key term to be successful. Strategic planning is the process of thinking about
and creating these scenarios, and the business plan is the document that communicates the
fact that you have figured it out. Like example for Air Asia Airline ,the owner has been
realised that via flying the plane almost the time of the day will make the refund for his loss
on the earlier capital. So, he decided the mission and vision of the company to be consistent
to become fulfill the requirement of key term of success.
Next chapter about Women Entrepreneur, based on the video that I have seen I realized that
many women in the world has become one of the successful entrepreneur because they need
to improve their life. Nowadays, many women would do not have many time to do full time
work, so one of the change for this group to improve their life is get involve into
entrepreneurships. Women are increasingly turning away from corporate employment toward
family-embracing entrepreneurship. So, from this knowledge of the entrepreneur women can
drive up their life not only to their income but relationship, skill and so on.

LEARNING LOG
WEEK 7 (26 OCTOBER & 29 OCTOBER)
A topic that I learned during this week is about benefits and procedures for buying an existing
business and family business.
What I learned in class for this week is how entrepreneur took a low risk to be failing in
business. Now, many entrepreneurs take a strategy to create their business by buying the
existing business. It is because one of the entrepreneur that buying the existing business is
can keep spending the larges cost. Opened the business via our self will take highly cost on
location, factory and building, for seeking the employee and so on. So, as the entrepreneur
who are take change to create business by buying existing business will be one of the right
decision also because he can save the cost from the first step until he can to launching the
business.
I also think that buying the existing business is the best idea too, but before they decide to
buy the existing business the owner would like to investigate how finances, structure, culture,
supplier. In-depth Research about internal and external will be ensuring that you can make
easy profit from the business.
For Family Business chapter on 26 October , I realized that family businesses might be
considered incompatible to entrepreneurship because they are usually tradition-bound, multigenerational, and considered diametrically opposed in terms of assumptions and actions.
Running a family business can be very rewarding as you share your stresses and successes
with your loved ones.

LEARNING LOG
WEEK 6 (12 OCTOBER 2014)
For the week lesson, we are only doing some revision in class from chapter 1 to 4 for
midterm examination. Nothing much that I can reflect for this week, but I still think that I had
to struggle to score this midterm examination.
LEARNING LOG
WEEK 5 (8 OCTOBER 2014)
Lesson in class for this week has been talked about Franchising and the Entrepreneur.
Franchising is form of business organization in which a firm which already has a successful
product or service from the franchisor enters into a continuing contractual relationship with
franchisees operating under the franchisor's trade name and usually with the franchisor's
guidance, in exchange for a fee. Some of the most popular franchises in the United States
include Subway, McDonalds, and 7-Eleven. But buying a franchise can be quite expensive,
especially if you are considering linking up with a franchisor that represents an
internationally respected brand which is already a household name. As a result, there are very
few entrepreneurs that can afford to completely finance the franchise from their own
resources.
What I realised, franchising is an example of a new entry that focuses on imitation to reduce
the risk of downside loss for the franchisee . The franchising also about contractual vertical
marketing system through which franchisor and franchisees are exploiting business
opportunities in competitive manner. So the franchisee is getting all necessary skills through
training and procedures to run a business in one specific industry.

LEARNING LOG
WEEK 4(28 SEPTEMBER &1 OCTOBER 2014)
This week I learned about how to write the business plan and entrepreneur networking.
For my group assignment ,we need to prepared one business plan. So we learned about this
topic for take the information for the step of what important point that should we have in the
business plan. A business plan is a formal statement of a set of business goals, the reasons
they are believed attainable, and the plan for reaching those goals. It may also contain
background information about the organization or team attempting to reach those goals.
Business plans may also target changes in perception and branding by the customer, client,
taxpayer, or larger community. When the existing business is to assume a major change or
when planning a new venture, a 3 to 5 year business plan is required, since investors will look
for their annual return in that timeframe.
And for be one of the successful when starting the business, the entrepreneur need larges
networking from friend, different company or anything to getting timely advice from top
experts can be the difference between a successful company and one that struggles along. All
entrepreneurs need help, no matter if theyve founded 10 companies or none at all. No one is
an expert about all of the subjects that running a start-up company requires.
For me until now, finding great advice has generally depended on whom you know, or whom
you raise money from.

LEARNING LOG

WEEK 3 (21 SEPTEMBER & 24 SEPTEMBER 2014)


21 OCTOBER , in the Creativity and Innovative lesson I understand that part of the
entrepreneurship is the thought that entrepreneurs are creative, innovative, go-getters, risk
takers, driven. All of this will implies a high self-esteem and determination. But in reality,
having a clear understanding of creativity, innovation and entrepreneurship allows managers
of institutions and corporations, as well as individual, manage each area differently to get the
best results.
So, I think that entrepreneurship is more about creating wealth than it is about creating a
company. It is closely linked to creativity, entrepreneurs must have something new to offer. It
is related to innovation, entrepreneurs must find new ways of getting in the market, making
something new, doing things differently.

On 24th October , I learned about industry and competitor analysis. Industry and competitor
analysis in marketing and strategic management is an assessment of the strengths and
weaknesses of current and potential competitors.
For me, company need his analysis provides both an offensive and defensive strategic context
to identify opportunities and threats. Profiling all of the relevant sources of industry
competitor analysis into one framework in the support of efficient and effective strategy
formulation, implementation, monitoring and adjustment.

LEARNING LOG

WEEK 2( 14 & 17 SEPTEMBER 2014)


The week 2nd I had learned about Business Opportunities. A business opportunity is a
consumer need and want that can the entrepreneur to create new business chance. Many of
business idea was appear when have a gap in the market. Three methods for determining the
feasibility of business ideas are Cost, Opportunity and SWOT Analysis .
This is the process of adding up all the expected benefits of an opportunity and subtracting
all the expected costs. If the benefits outweigh the costs, the opportunity may be worthwhile.
An opportunity-cost analysis examines the potential benefits that you forfeit when you
choose one course of action over others. This is a business evaluation method that draws its
name from the four areas it evaluates is Strengths, Weaknesses, Opportunities, and Threats.

LEARNING LOG

WEEK 1( 7 & 10 SEPTEMBER 2014)


During this week is the add drop session of semester 2014/2015.In the second class on
Wednesday ,I learned about the Theory and Introduction about Entrepreneurships.
Entrepreneurship is the process of starting a business or other organization. The entrepreneur
develops a business model, acquires the human and other required resources, and is fully
responsible for its success or failure. Entrepreneurship operates within an entrepreneurship
ecosystem.
What I realized that entrepreneurship is a role played by or the task performed by the
entrepreneur. The central task of the entrepreneur is to take moderate risk and invest money
to earn profits by exploiting an opportunity. For this he must have far-sightedness to perceive
an opportunity so that he can exploit it well in time. Although an entrepreneur has to perform
diverse functions yet he must manifest many qualities in himself to be a good entrepreneur.
Entrepreneurship can be defined as the propensity of mind to take calculated risks with
confidence to achieve a pre-determined business or industrial objective. That points out the
risk taking ability coupled with decision making

BPME3073
ENTREPRENEURSHIP
FIRST SEMESTER 2014/15

LEARNING LOG ASSIGNMENT


PREPARED BY:
JU-RAIZAH BINTI ABU BAKAR (226426)
PREPARED FOR:
DR. YEOH KHAR KHENG
DUE DATE
23 NOVEMBER 2014