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7/28/2019 eMBA Apr13 Session 2
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The ProgramSession Topic Curriculum Date
1 Introduction
Welcome the students Explain course and schedule The Contract Students expectation of the course InteractionI the Business Case Study #1 InteractionThe Name Ball Interaction-I the Investor Part 1 Discussion Singapore Incorporated and Entrepreneurship
9th April7.00 pm to 8.15pm
2 Entrepreneurship
Presentation Entrepreneurship Process
Presentation Leadership and Entrepreneurship explained InteractionI the Business Case Study #2 Discussion Doing Business in India and China
9th April9.00 pm to 10.15 pm
3 The Entrepreneur
Interaction Jockey Quiz Presentation Myths about entrepreneurship Presentation The ten mistakes a new entrepreneur make InteractionI the Business Case Study #3 Self Assessment - Are you the entrepreneurial type? Discussion Challenges of an Entrepreneur
10th April7.00 pm to 8.15 pm
4 Business Planning
Presentation Generating ideas and opportunities Presentation Types of Business Plan Presentation Making assumptions and identifying constraints InteractionI the Business Case Study #4 Interaction Briefing on The Coffee Stall Business Discussion Business Entertainment
10th April9.00 pm to 10.15 pm
5Site Visit at DignityKitchen
Understanding of social entrepreneurship Learning the value of business (The Coffee Stall Business)
11th April6.00 pm to 8.30 pm
6
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The ProgramSession Topic Curriculum Date
7 Getting Started in Business
Presentation Understanding and evaluating business risks Presentation Taking Risk Presentation Funding Types and Process Presentation Closing the Deal Interaction - I the Investor Part 2 InteractionI the Business Case Study #5 Discussion - My Business Values
13th April2.00 pm to 3.15pm
8 Doing Business
Presentation Business structures & its incorporation
Presentation Processes and System Presentation Maintaining a business Presentation Growth of a Business InteractionI the Business Case Study #6 Discussion Learning from the $100 Experience
13th April4.00 pm to 5.15 pm
9 Success in Business
PresentationDeath of a business Presentation Why business failed Presentation Element of Success in Business
Discussion Bad Business Practice
13th April6.00 pm to 7.15 pm
10 Assessment I the Business Individual Assessment14th April
10.00 am to 11.15 am
11 Assessment The $100 Experience Business Plan Presentation14th April
12.00 pm to 1.15 pm
12 Conclusion
Course Review Result of your Assessment Review of The Contract
14th April2.00 pm to 3.15 pm
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Session 2Entrepreneurship
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PresentationEntrepreneurship ProcessLeadership and Entrepreneurship explained
InteractionI the Business Case Study #2
DiscussionDoing Business in India and China
Preview & AssignmentBackground ReadingQuestions and Answers
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Introduction to
Entrepreneurship
PresentationChristopher Benjamin Consultancy Services 5
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Entrepreneurship ProcessWhy Do It?
Identify theNeeds
Generating theidea
Research,Evaluate andCommunicate
Document
Implement
Review,modify and
adapt
Build theKNOWLEDGE
andLearn the SKILL
Need a platform
Need an entity tangible or
intangibleNever start with how to write abusiness plan but with an idea
Focus on needs not want,
business last longer
Age, sex, religion, language
are not barrier to success,
the mind is
Moral value is the
conscious of the
entrepreneur
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Competencies
..hopes to develop
these competencies
some but not all.
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Entrepreneurship is about seeingopportunities and bringing about changes
Entrepreneurship is a skill - Can belearned
Difficult to teach Need to practice
Entrepreneurship
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Entrepreneurship is defined as
The process of organising a commercialundertaking
Webster Dictionary
Entrepreneurship
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The entrepreneur shifts economicresources out of an area of lower and into
an area of higher productivity and greateryield.
French economist J. B. Say around 1800
Entrepreneurship
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All new small businesses have many factors in common.But to be entrepreneurial, an enterprise has to have
special characteristics over and above being new andsmall. Indeed, entrepreneurs are a minority among newbusinesses. They create something new, somethingdifferent; they change or transmute values.
Peter Drucker
Entrepreneurship
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It is ident i fy ing anoppor tun i tyand executing on that
opportunity for the purpose ofwealth creation. An
entrepreneursees, evaluates and explo itsopportuni t ies, whereas a manager concentrates on the
effective use of available resources to achieve optimum
results.
- SM Lee Kuan Yew, Feb 2002
Entrepreneurship
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Entrepreneurship is a behavior that includes:
initiative taking
the organizing and harnessing of social and
economic factors for wealth creation
the acceptance of risk or failure
Entrepreneurship
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Why is entrepreneurship important?
Entrepreneurship contributes to job creation and
growth
Entrepreneurship is crucial to competitiveness
Entrepreneurship to unlock personal potential
Entrepreneurship and societal interests
Entrepreneurship
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What does it take to produce more entrepreneurs?
Entry barriers
Risk and reward
Fostering capacity and skills
Making entrepreneurship accessible to all members of society
Entrepreneurship
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How can enterprises be geared to growth?
The regulatory environment
Taxation
Access to skilled labour
Access to finance
Helping firms to exploit knowledge and international opportunities
Intrapreneurship and corporate venturing
Entrepreneurship
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Three pillars for action towards an entrepreneurial
society
Bringing down barriers to business development andgrowth
Balancing the risks and rewards of entrepreneurship
A society that values entrepreneurship
Entrepreneurship
Singapore ?????
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Why should we learn entrepreneurship?
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To move to an information societywhere strategic resources are
information, knowledge and
creativity
To find solutions to
problems or needs
To accept andresponse to
changes
To adjust to an
increasingly global,
competitive economy
To find new ways
to solve social
problems
To improve performance
To stimulate new business and
the economy new jobs and
opportunities
To inspire and enhance
opportunities for women, youth
and elderly.
To help the number of
failed businessTo help shift workers from
a manufacturing/industrial
base to a service
oriented industry
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NOT
EVERYONE
IS
ANENTREPRENUER..
Entrepreneurship
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Leadership andEntrepreneurship
PresentationChristopher Benjamin Consultancy Services 20
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Leadership and Entrepreneurship
Setting
Direction
Delivering
the Service
Personal Qualities
Self belief
Self awareness
Self management
Drive for improvement
Personal integrity
Collaborative
working
Broad
scanning
Effective
and strategic
influencingEmpowering
others
Holding to
account
Leading change
through people
Seizing the future
Intellectual
flexibility
Political
astuteness
Drive for results
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Leadership and Entrepreneurship
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I. Visionary Evangelist
II. Team and Consensus Builder
III.Manager of Execution
Entrepreneurial leaders can fall under these threeleadership styles
Leadership and Entrepreneurship
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Leadership and Entrepreneurship
I. Visionary Evangelist
Persuades employees to work toward his/her vision of thefuture.
Creates, sells, and drives the strategy of the organization.
Serves as the spokesperson for the organization anddemonstrates confidence in its potential for success.
Takes charge, pushes for action and instills a sense ofurgency to achieve the organizations goals.
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Leadership and Entrepreneurship
I. Visionary Evangelist
Very bright get to core issues quickly
Creative and visionary yet realistic and savvy
Inspirational motivators
Open to new ideas will seek others advice before making a decision
Learn from mistakes & failures
Willing to take risks but also like to have a plan
Make firm, clear cut decisions
High level of drive & desire to achieve excellence
Confident but understand their limits
Enthusiastic & passionate love their work & their product
Can sell ideas, influence & negotiate
Make good first impression
Enjoy positions of influence
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Example
Steve Job of Apple
Dennis Wee of DWR
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Leadership and Entrepreneurship
II. Team and Consensus Builder
Develops teamwork, commitment, alignment and employeemotivation by involving, empowering and creating a positivework environment.
Develops loyalty by investing in building relationships with
others and by showing interest in employees needs, growthand career development.
Is open to their ideas and willing to share power.
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Leadership and Entrepreneurship
II. Team and Consensus Builder
Develop loyalty by showing interest, talking to people & investing in relationships
Sociable, friendly, warm, supportive & approachable
Read people & situations accurately diplomatic, tactful & astute Persuasive know how to influence and win others over to their side
Put group interest ahead of self-interest
Liberal with praise & encouragement
Balance emphasis on people & results
Trusted & credible strong values, high integrity, conscientious Open & forthright no hidden agendas
Teambuilder emphasize cooperation & alignment
Empowering style
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ExampleAnita Roddick of BodyShop
Oliver Lum of Hyflux
Manmohan Singh & HuJintao
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Leadership and Entrepreneurship
III. Manager of Execution
Provides organization, focus and clarity of direction to employees.
Good administrator.
Structured, disciplined, and skilled at setting short term targets andgoals.
Good at setting priorities and meeting commitments. Sets up systems
and processes. Worries about the details.
Monitors results versus plans and provides the rigor and controlnecessary to stay on course and correct for deviations from the plan.
Gets results.
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Leadership and Entrepreneurship
III. Manager of Execution
Model hard work but not workaholic
Succeed through steadiness and determination
Disciplined & focusedclear goals & priorities
Keep it simple
Avoid perfectionism
Keep others informed
Prefer to set a course and stick with it but willing to be flexible
Feel bound to meet commitments
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Example
Donald Trump
Sim Wong Hu of Creative
Mahathir Mohamed
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Leadership and Entrepreneurship
I. Visionary Evangelist
II. Team and Consensus Builder
III. Manager of Execution
Which are You?
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Case Study #2
Project Nutritient
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Interaction:I the Business
Scenario:
Nutirient, a soy based product is developed mainly for post operation patient where solid foodintake is restricted. It is well certified and an established channel of distribution.
One of founder investor (with 25% holding) discovered that his younger brother (anotherfounder investor with 25% holding) has been manipulating the supply chain and pocketingextra money into his personal account. The elder brother after several failed attempts to
persuade his brother to come clean, decided to sue the brother and unfortunately publicize thecompany predicament.
With the falling sales following the publicity, the younger brother in desperation decided tocollaborate with several other minority shareholders to raise the money to keep the businessgoing.
To raise US$250,000 in exchange for 55%equity or as loan with repayment of X% p.a.
ChristopherBenjaminConsultanc
yServices
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1. The product is soya bean based compound, brand name Nutritient. It is a complete and balancednutritional drink with the necessary minerals and vitamins, packaged in our standard 400 gramssize container or 20gram sachet.
2. The product has been certified in China by the health authority and recommended by the ChinaNutrition Society. There is no direct competition to this product in the local market.
3. The only competition is the oversea equivalent called Ensure, manufactured by Wyeth. In
Singapore, the product has been approved by the Agri-Food & Veterinary Authority of Singapore(AVA)
The Product
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1. The fund requirement is US$250,000 which will be used for working
capital and expansion of the current business only.- Establish new factory to increase production.- Improved product packaging for export market.
2. The fund can be for equity of the business (for 55% stake holding) ora loan to the company at an agreed loan rate and repayment period.
Funding Requirements
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Discussion
Doing Business in
India and China
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China
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http://www.youtube.com/watch?v=2rPnLi6Onpshttp://www.youtube.com/watch?v=2rPnLi6Onps7/28/2019 eMBA Apr13 Session 2
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China
Anshan
Zibo
Guangzhou
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1980s
Anshan, Liaoning Province
As an Employee
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Background
Steel Foundry development project 3.5m investment with Anshan Iron and Steel Corporation
Participants include Chinese Gov, ECGB and Midland BankInternational
18 months project
Lesson LearnedFailure to understand the cultural differencesContractual failure
Need for good people
Steel Foundry Project in Anshan
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1990s
Guangzhou, Guangdong
As an Investor..
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Guangdong
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Guangdong Business Environment
Total Number of Industrial Enterprises (unit) 24494
Grouped by Ownership
State-owned with State-holding Industry 2103 9%
Fully State-owned Industry 1344 5%
Collective-owned Industry 2513 10%
Cooperative Enterprises 305 1%
Share Holding Enterprises 5549 23%
Foreign Funded Industry 2070 8%
Enterprises Funded by Entrepreneurs from Hong Kong, Macaoand Taiwan 8549 35%
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Background
Dubai owned companyEstablish 100% foreign owned wholesale/retail business
Registered in Guangzhou
Chinese managedBudgeted US$1m investment
Lesson LearnedLegal Representative
Registration of businessPaid up capital
Free trade fine detailsChanging policies
Hardware Distributor in Guangdong
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2000s
Zibo, Shantung
As a Consultant.
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BackgroundIndian hotelier building 8 hotels in India
Complete turnkey by Chinese Visit to China in 2005
Contract signed on 2006 Work starts in 2007
Lesson LearnedLanguage Issues
AttitudeInternational exposure Contractual difference
Hotel Development for India
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The Rules for the Chinese Market
Think Chinese
Learn Chinese
Be Chinese
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Ch i P fil f th
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Changing Profile of the
Chinese Business person
1980s / 1990s Communist turns Capitalist
2000s The Little Emperors
Beyond The Professional Socialist
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India
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Malaysian Chinese Vegetarian Business in India
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BackgroundManufacture vegetarian ready-to-eat food productCollaboration with IndianStart import then factoryTarget Indian vegetarian market
Lesson LearnedUnderstanding of Indian culture
Legislature requirementsLack of cold chain structure
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BackgroundDistribution of Chinese brand of consumer electronics
Indian partnershipPlan for Retail / Wholesale / Assembly
Started in Delhi
Lesson LearnedChina brand
Import dutiesNeed for latest productIndian supply chain
Chinese Government-owned
Electronic Firm to India
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BackgroundChinese motorcycle manufacturer partnership with Indian
suppliersManufacture motor cycle repair kit
Under license for major brand
Lesson LearnedLanguage issues
Lack of leadershipIndian trust and Chinese reputation
Indian engineering skill & Chinese design capability
Automotive Component Distributor in India
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The Rules for the Indian Market
Respect
Patience
Tolerance
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China & Indiain comparison.
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Chi d I di
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China and India
- Business Commonality
Large Population
Young people
Growing middleclass
Spending power
High consumption
Affluent
Economic growth
Low cost labour
High educational leveland technically able
Vast natural resources
Large returningnational
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Chi d I di
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China and India
- Business Differences
China State owned enterprises
Bureaucrat Leadership
Singular entity
Single child mindset
Do and think approach
Politically bias
Rapid growing infrastructure
India Family managed business
Patriarch leadership
Multi facet entities
Extended family mindset
Think Think Think and do approach
Religious bias
Weak infrastructure
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India & China
Sell to the mass market
Whats sells Infrastructure
Lifestyle and Brand(Food / Consumer Electronic / Automotive)
Education
China and India
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Other Lessons Learnt
Human Resources
Beyond paper qualificationThe Chinatown
TailorSocial Issues
Female distractionThe Cow and the Milk
Business Practices
Kickback and corruptionThe Scholarship
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Talking to the Chinese
Contractual Relationship Compromise-in your favor
-- in their favor
People, People,
People
Ice Breaking Topic
Child
Study
Money
Minority vs Majority
Repatriation of Fund
MiscellaneousExpenses
Who to pay?
How to pay?
How much?
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Financial Crisis
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Financial Crisis
China & India
Its happening in GuangzhouMin Wage / Insurance for workerArrogance and GDP / HKFactory Closure
Beijing China Builders FairIndian and African vs the European and the American
Its happening in Mumbai Corruption Lack of confidence in market Job lostBanks are conservative and no mini-bonds
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Being Successful in Business Development
ADAPT! ADAPT! ADAPT!
Local Knowledge important important to have a representative
Need for good people
Less focus on initial entry and more on a longer term view
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New Market Development for Small Business
Developing oversea business is not cheap
Finding the right network to start off
Cultivating the network
Need for people to sustain the new market
Making money out of the new market
Taking money out of the new market
What next?
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Background Reading
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Innovation & Entrepreneurship by Peter Drucker Entrepreneurship Strategies & Resources by Marc DollingerEntrepreneurs Helpline by Alexandrino FerreriaHarvard Business Review on entrepreneurship by Harvard Business SchoolSingapores Homegrown Entrepreneurs tell you how to do it by Russell R Miller
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Questions & AnswersMy email address: [email protected]