chapter 2(a) preparation as an entrepreneur

8/10/2019 Chapter 2(a) Preparation as an Entrepreneur

http://slidepdf.com/reader/full/chapter-2a-preparation-as-an-entrepreneur 1/16

PREPARATION AS AN

ENTREPRENEUR

Chapter 2



Skills Development Preparation

• Technical Skills

• People Skills

•

Conceptual Skills• Administrative Skills



WHO ARE ENTREPRENEURS?

• Know How To Make A Difference

• Know How To Spot And Exploit Opportunities

•

Know How To Find The Resources Required• People Who Add Value

• Have & Maintain A Good Network



WHO ARE ENTREPRENEURS?

• Create Capital

• Manage Risk & Uncertainties

•

Determine In The Face Of Adversity• Involves Creativity & Innovation

• Enterprising Activity



STRATEGIES TO START A BUSINESS

Entrepreneurship activityplanning

Identifying the market

Price setting strategy

Marketing strategy

Developing skilled manpower

Total project cost



TYPES OF BUSINESS SURVIVAL

STRATEGIES

Stabilising

Strategy

Growth

Strategy

Termination

Strategy

Mix

Strategy

Corporate

Strategy



Business Support System

1. Financial Support System2. Entrepreneur and Management Training

3. Technological Support

4. Infrastructure Support (location andpremise)

5. Marketing Support

6. Research and project Recognition

7. Informational Support



Financial Support System

• Majlis Amanah Rakyat (MARA)

• Commercial Banks

• Bank Pembangunan Infrastruktur Malaysia

Berhad (BPIMB)

• Malaysian Industrial Development Finance

Berhad (MIDF)

• Bank Pertanian Malaysia Berhad

• SME Bank



Entrepreneur and Management

Training

• Majlis Amanah Rakyat (MARA)

• Malaysian Entrepreneurship

Development Centre (MEDEC)

• State Economic Development

Corporation (SEDC)

• National Productivity Corporation (NPC)



Technological Support

•Palm Oil Research Industry Malaysia

(PORIM)

•

Forest Research Institute of Malaysian(FRIM)

•Malaysian Institute of Microelectronic

System (MIMOS)



Infrastructure Support (location

and premise)

•Urban Development Authority

(UDA)

•Majlis Amanah Rakyat (MARA)

•State Economic Development

Corporation (SEDC)



Marketing Support

•Federal Agricultural Marketing Authority

(FAMA)

•Malaysian External Trade Development

Corporation (MATRADE)•Ministry of International Trade and

Industry (MITI).



Research and Project Recognition

6. Research and Project Recognition•Standard and Industrial Research Institute

of Malaysia (SIRIM)

•Malaysian Palm Oil Board (MPOB)

•Research Rubber Institute Malaysia(RRIM)

•Malaysian Agricultural research and

Development Institute (MARDI)



Informational Support

•Informational assistance is offered to an

entrepreneur in the form of business opportunities,statistics, discovery, research development and

technological development.

•Example:

•Forest Research Institute of Malaysia (FRIM)

•Malaysian Industrial Development Authority (MIDA)

•Malaysian External Trade Development Corporation

(MATRADE).•Standard and Industrial Research Institute of

Malaysia (SIRIM)



Retirement Accounts

•Entrepreneur would have saved funds for retirement

purposes. He can use this money to fund the development of

his venture.

Stock Market•

Offering stock in the entrepreneurs’ venture to the public. •Investor will be able to share any profits equal to the value of

the share they contribute (dividends).

Government LoansGrants and Government subsidized loans.



Banks and Other Financial Institutions

•Banks and financial institutions offer loans to individualswho have assets that can serve as collateral for the loan.

•There are 3 types of financing provided by banks and

financial institutions :

i. Long-term financing

• 5 – 25 years

ii. Medium-term financing

• 2 – 7 years iii. Short-term financing

• Overdraft

chapter 2(a) preparation as an entrepreneur

Documents