eMBA Nov12 Session 8

7/28/2019 eMBA Nov12 Session 8

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Entrepreneurship

Course

EMBA Batch

April 2013

Session 8


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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 Discussion Guan Xi and networking

Discussion Business entertainment


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


5 Site Visit at DignityKitchen

Understanding of social entrepreneurship Learning the value of business (The Coffee Stall Business)

11th April6.00 pm to 8.30 pm6


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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


9 Success in Business

PresentationDeath of a business Presentation Why business failed Presentation Element of Success in Business

Discussion Bad Business Practice


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



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Session 8Doing Business

Christopher Benjamin Consultancy Services 4

PresentationBusiness structures & its incorporationProcesses and SystemMaintaining a businessGrowth of a Business

InteractionI the Business Case Study #6

Discussion

Learning from the $100 ExperienceBackground ReadingQuestions and Answers


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Business Structure and

Incorporation

Presentation



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Type of Commerce

Structure & Incorporation

Sole Proprietor

Investment

Limited LiabilitiesPartnership

PartnershipPrivate Limited

Roles & Responsibilities

Shareholding %age

Director and Shareholder

Offshore and Local Registration

Office



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Type of Commerce

For-profit:

A for-profit or commercial venture iscreated and remains viable due to thedesire to sell something for a profit. Thisproduct may be a good or a service

Non-profit:

A non-profit venture is created andremains viable as a result of a desire toimprove the quality of life for a group. Aperson founding a non-profit may beconsidered a social entrepreneur, since

he or she is motivated by the desire tohave an impact on society instead ofearning money. Non-profits often dedicatethemselves to social issues such asenvironmental concerns, animal rights,unemployment, health care, andadvocacy for underserved groups suchas senior citizens and women.

Large scale and small scale.

Entrepreneurial activity may take place within a largecompany or within the home, school, church or localcommunity organization.

Service provision and goods production.Entrepreneurs can be at work providing a servicesuch as delivering food, mowing lawns,developing atechnology or they can be at work producing andselling a product such as hockey sticks, software,tires, or advertising brochures.

Local/national/international.

Activity can take place at home, in school, in the stateor internationally.



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Sole-Proprietors, Partnerships and Limited Liability Partnerships

Almost anyone or any company can register except un discharged bankrupts may not beallowed to register such entities in Singapore.

You must appoint a local managerif none of the owners registering is ordinarily resident

in Singapore. For LLPs, a local managermust be appointed in all cases.

A person is not "ordinarily resident" if he/she:- does not have a local address; and- cannot legally remain in Singapore for a long period of time.

The local manager must be above 21 years old and be one of the following:

- a Singapore Citizen- a Singapore Permanent Resident- an Employment Pass holder- an Approval-in-Principal Employment Pass holder- a Dependant Pass holder

Incorporation



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Incorporation


Companies

Almost anyone or any company can incorporate a company. However, there must be atleast one directorof the company who is above 21 and be one of the following:

- a Singapore Citizen- a Singapore Permanent Resident- an Employment Pass holder- an Approval-in-Principal Employment Pass holder- a Dependant Pass holder

Directors cannot be bankrupts orpersons convicted of dishonesty.

There must be at least one shareholder and one director. They can be the sameperson. However, most companies opt to have at least 2 directors as banks and otherfinancial institutions usually require 2 signatories


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Incorporation


Check Availability Of Business Name

You will need to decide on a name for your business and then make sure no one else has taken it.

Choose A Place Of Business

When registering your business, you will be asked to provide a local address for your place of business.Premises must be approved for business use by the Urban Redevelopment Authority (URA).P.O. Boxes cannot be used as a registered business address.Residential flats or properties can only be used under the Home Office Scheme (HO)

Obtain Licenses & Permits

Certain types of businesses such as private schools, childcare centers and video companies require

licenses and permits

Top-Up Your Medisave

For a sole-proprietorship, partnership or an LLP, ensure that your Medisave contributions are up-to-datewith the Central Provident Fund Board (CPF Board).


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Incorporation


Rules For Business Firms

Business firms are sole-proprietorships and partnerships.

1. Business must be carried out under the registered business name. You cannot use

any other name.

2. Print your registration number on all letterheads, invoices, bills or other documentsused for the purposes of the business.

3. Renew your business registration on time

4. Notify ACRA immediately if there is a change of business particulars, such as achange of address, business activity or partners.

5. Notify ACRA the moment you decide to end your business

6. Keep your Medisave contributions up-to-date


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Incorporation



Rules Specifically For Limited Liability Partnerships

1. The manager must make an Annual Declaration to ACRA stating whether thebusiness is able or unable to pay its debts as it becomes due in the normalcourse of business.

2. The first Annual Declaration must be made within 15 months of the date of

registration.


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Rules For Companies

1. Appoint a company secretary within six months of incorporation. If the company only has one director, he/she cannotbe the company secretary.

2. Your registered office must be open and accessible to the public for not less than three hours between 9am and 5pmon weekdays.

3. Print your company registration number on all letterheads, invoices, statements of accounts, official notices andpublications.

4. Notify ACRA within the prescribed time if there is a change of company particulars, such as a change of address,business activity or directors.

5. The first Annual General Meeting (AGM) of your company must be held within 18 months of the date of incorporation.

6. You must appoint an auditor within three months of the date of incorporation. Your annual accounts must be auditedand filed with ACRA within one month of the AGM.

7. Companies with less than 20 individual shareholders (Exempt Private Companies) do not need to appoint an auditor,audit their accounts or file them with ACRA if their revenue is less than S$5 million for the financial year.

Incorporation


http://www.acra.gov.sg/
http://www.acra.gov.sg/http://www.acra.gov.sg/


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Maintaining a business

Presentation



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Business is like a CarThe Driver? Roadmap = Business Plan

Store

DriverCo-driver

Fuel = money

Passenger=

worker

Engine= Production



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Money Financial Management and Control

People Human Resource Management

People DevelopmentProcess

Quality Product Service Excellence

Product / Service

Innovate / Innovate / Innovate Continual improvement

Legislature Understand and Comply

Maintaining a Business



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Business The Way Ahead

BusinessThe Way Ahead

Stability

Retrenchment

Growth

Alliance

Merger

Diversification

GenericGrowth

Turnaround

Divestment

Liquidation

Horizontal

Vertical

Non Related

Related

Non Related

Related



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Business The Way Ahead

No. ofTransactionsper period of

time

ReturnsResourcesAvailability

Opportunities



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Systems and Processes

Presentation



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ManagementCommitment

EmployeeOwnership

Mission

Objectives

Strategy

Warehousing&Logistics

HumanResource

Manufactur

ing

Financial&

Accounting

Purchasing

Manageme

ntInformation

Strategic Alignment

APPROACHTOSTRATEGIC PLANNING



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Management System Certification


Quality ISO 9000harmonised methodology for building, sustaining and improving qualityperformances

Environmental ISO 14000

a system of management to achieve sustainable business development throughcontinuous improvement in environmental performance

Health & Safety OHSAS 18000helps organisations establish and maintain a system of management to improvethe welfare, health and safety of employees at the workplace.

Food ISO 22000 / HACCPfood safety management systems standard based on the principles of ISO 9001.

Information Security BS7799provides a code of practice for the implementation of security controls to protectinformation within both commercial organisations and government departments


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An internationally recognised standard

A model to help develop a quality system

A means of demonstrating quality assurance

What is ISO 9000?



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BS5750 (1979)

outside the defence industry

ISO 9000 (1987)

international perspective

ISO 9000 (1994)

Accommodate service-oriented industry

ISO 9000 (2000)

Wider aspect of business

ISO 9000 (2008)

Compatibility with other management system

Brief History of ISO



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ORGANISATION

Control

Elements

Supplier

Control

Elements

Data Raw

Material

Customer

Quality

Service/Product

ISO 9000 CONCEPT



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Integrates 8 quality management principles:

Customer focus

Leadership

People involvement

Process approach

Systems approach to management

Factual basis to decision making

Continual improvement

Supplier partnerships

ISO 9001:2008



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CONTROLS

INPUTS OUTPUTSPROCESS

RESOURCES

Procedure

Specification

Training

Objective

Equipment

PeopleMaterials

Information

ISO 9001 - Process Approach



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MANAGEMENT RESPONSIBILITY

RESOURCE MANAGEMENT

MEASUREMENT, ANALYSIS,

IMPROVEMENT

C

US

T

O

M

E

R

C

US

T

O

M

E

R

INPUT OUTPUTPROCESS

PROCESS MANAGEMENT

A P

C D

Integrated Process



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InputsOutputsMajor Process

Sub

Process

Sub

Process

Sub

Process

Sub

Process

Activity

Activity Activity ActivityActivity

Task Task Task Task

Process Management



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Growth of a Business

Presentation



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The Stages of Growth

Phase 1Entrepreneurial

Phase 2Direction

Phase 3Delegation

Phase 4Co-ordination

Phase 5Collaboration

Structure Informal FunctionalCentralisedHierarchicalTop down

DecentralisedBottom-up

Staff functionsIntroducedSBUsDecentralisedUnits mergedinto productgroups

Matrix typestructure

Systems Immediateresponse tocustomer feedback

StandardsCost centresBudgetSalary systems

Profit centresbonusesManagement byexception

FormalplanningProceduresInvestmentcentresTightexpenditure

controls

Simplified &integratedinformationsystems

Style/People IndividualisticCreativeEntrepreneurialOwnership

StronglydirectiveImpersonal

Full delegation& autonomy

Watchdog Team-orientatedInterpersonalskills at a premiumInnovativeEducational bias



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Phase 1Entrepreneurial

Phase 2Direction

Phase 3Delegation

Phase 4Co-ordination

Phase 5Collaboration

Strengths FunMarket Response

Efficient Highmanagement

motivation

More efficientallocation of

corporate &local resources

Greaterspontaneity

Flexible &behaviouralapproach

Weaknesses Founder often

temperamentallyunsuited tomanaging Bossoverloaded

Unsuited

DiversityCumbersomeHierarchyDoesn't growpeople

Top managers

lose control asfreedom breedsparochialattitudes

Bureaucratic

divisionsbetweenline/staff,headquarters/field etc.

Psychological

saturation

The Stages of Growth



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Case Study #6

Anu Barber Shop



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Interaction:I the Business

Scenario:Anu has been convicted for drug abuses for five times and served over 15 years inChangi Prison and in drug rehabilitation centre.

In his last prison stint, he learn a barber trade and wanted to start up a barber shopwhen he is discharged.

In his business plan presentation to a group of investors, the concern were whetherhe will return to drug abuse again and in his barber shop business will he pushdrugs to young children who come to have their hair cut.

Ex-prisoner (drug offence) looking for $10,000funding to start up a barber shop

ChristopherBenjaminConsultancyServices



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Anu Barber Shop

Recently released from prison, for possession of illegal drugs

Under Drug Rehabilitation Program for Business Startup he presentedhis plan to start up a small business

Intend to open a barber shop catering to young adults and children

The renovation will be trendy and modern

Pricing will be competitive

3 years to 12 years = $8.00

13 years old and above = $10.00

Investor will be entitle to 50% of the business with a guarantee returnof 3% per annual.

Funding requirement of S$20,000 of which $10,000 from own savings.



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I the Business

Assessment



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I the Business


Preparation / ConceptualizationOne minute PresentationQuestions and Answers

Score 10% Content Clarity of thought & expression Handling of Q & A

Topic ?Purpose :

To build confidenceTo think on the spot

To verbalize ideas and opportunitiesWhere ?

When ?


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I the BusinessIndividual Assessment

Held on Session 10

Conceptualize a business idea and Sell in ONE MINUTE

Assessment will held at:Car Park

CanteenGardenElevatorBoard Room

YOU HAVE ONLY ONE CHANCE

SIX Business Ideas ????



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I the Business

Roll No Time (hrs) LocationMariane 1000 Elevator

Carlos 1010 Roundabout

Piyush 1015 Roundabout

Prabhu 1020 Garden

Sudipto 1030 Roundabout

Kiran 1035 Roundabout

Swapnil 1045 Elevator

Amresh 1055 Canteen

Laxman 1100 Canteen

Naveen 1105 Garden

Karthik 1110 Roundabout

Sarathbabu 1115 Elevator

Kumar Katra 1125 Roundabout

Priyajit 1135 GardenChristopher Benjamin Consultancy Services 42


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The S$100 Experience Presentation


Presentation

5 minutes formal presentation on a powerpointwhich include

Ideas & the opportunities Your business concept Financial and earning Nominated charity

5 minutes individual sharing of the $100 Experience

Starts at 1200 hrs


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Questions & AnswersMy email address: [email protected]

Documents

eMBA Nov12 Session 8