DIP – Business Enterprise

1. Lim SeiKee @ cK DIP – Business Enterprise

2. What is enterprise? • An enterprise is simply another name for a business.  • You will often come across the use of the word when reading about start-ups and other businesses…“Ali’s enterprise” or “Azimah set up her successful enterprise after leaving teaching”.

3. Secondly, and perhaps more importantly, the word enterprise describes the actions of someone who shows some initiative by taking a risk by setting up, investing in and running a business. 

4. KEY WORDS • Initiative and risk.

5. A person who takes the initiative is someone who “makes things happen”.  • He or she tends to be decisive. • A business opportunity is identified and the person does something about it. • Showing initiative is about taking decisions and being bold – not everyone is like that!

6. Risk-taking is slightly different.  • In business there is no such thing as a “sure fire bet”. • All business investments carry an element of risk – which is the chance or probability that things will go wrong.  • At the worst, the risk of an enterprise might mean the person making the investment loses all his/her money or becomes personally liable for the debts of the business.

7. The trick is to take calculated risks, and to ensure that the likely returns from taking a risk are enough to make the investment worthwhile. • Someone who shows enterprise is an “entrepreneur”.

8. What the main risks are in a new business (e.g. unexpected costs, lower than expected sales, failure to secure distribution) • The probability of the risks happening (this has to be an estimate) • What would happen if the risks occur – cost, cash etc

9. Rewards from enterprise • That’s enough about the negative side of setting a business up. What about the rewards?

10. INTANGIBLE REWARDS • A sense of satisfaction • Building something • Being in control • Making that first sale • Opening a new location • Employing more people • Getting an industry award or good publicity • Getting great feedback from customers

11. These are the kind of non-financial rewards that give entrepreneurs a buzz. • However, ultimately, it is the financial rewards that justify the effort and make taking the risk worthwhile.

12. Your first assignment! @ 3rd OCT’13 • Presentation.

13. Discussion Qs • What are the good reasons to start a business? • What are the major uncertainty when starting a new business? • What are the key reasons why governments are keen to encourage startups? • What are the potential rewards to enterprise?

14. Your Group • Group 1: 1, 9, 17, 25, 33, 41, 49, 57. • Group 2: 2, 10, 18, 26, 34, 42, 50, 58. • Group 3: 3, 11, 19, 27, 35, 43, 51. • Group 4: 4, 12, 20, 28, 36, 44, 52. • Group 5: 5, 13, 21, 29, 37, 45, 53. • Group 6: 6, 14, 22, 30, 38, 46, 54. • Group 7: 7, 15, 23, 31, 39, 47, 55. • Group 8: 8, 16, 24, 32, 40, 48, 56.

15. Presentation Tips • 1. Preparedness • = Completely prepared and rehearsed • 2. Organization • = Presents information in logical, interesting sequence which audience can follow • 3. Subject Knowledge • = Shows a full understanding of the topic

16. 4. Mechanics • = Slides are written with no errors in grammar, capitalization and punctuation • 5. Graphics • = Graphics, sound and/ or animation • 6. Posture and Eye Contact • = Stands up straight, looks relaxed and confident

17. 7. Volume • = Volume is loud enough to be heard by all audience members • 8. Presentation • = Visually organized and complete • 9. Time-limit • = 10 – 15 mins time