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SC3 – Business Idea

Lim Sei Kee @ cK. SC3 – Business Idea. Assessment Scheme. Coursework 50% Assignment (Report and Presentation) Practical 50% Practical (Business Operation). Discussion Qs. 1. Define the term ‘business’. 2. What are the objectives of conducting business?

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SC3 – Business Idea

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  1. Lim SeiKee @ cK SC3 – Business Idea

  2. Assessment Scheme • Coursework 50% • Assignment (Report and Presentation) • Practical 50% • Practical (Business Operation)

  3. Discussion Qs • 1. Define the term ‘business’. • 2. What are the objectives of conducting business? • 3. What do you need to have to start a business? • 4. How to start a business?

  4. Business • Trade of goods • Trade of services • Objective: Making profit

  5. How to start a business? • RIGHT BUSINESS IDEA! • Simple idea, a solution to a problem or a dream in someone’s head

  6. Remember successful entrepreneurs? • What do they have? • PASSION • EG: Software (Bill Gates), Real Estate (Donald Trump), Entertainment (Walt Disney) • What else?

  7. Other than passion, what is important? • Skills! Good cook  open café Good mechanic  open garage Good teacher  open tuition school

  8. A business needs: • Finance • Labour • Customers • Suppliers • Premises and equipment • Management organization & structure

  9. How to start a business? • What type of business? • Nature of business? • Name? • Location? • Resources? • Cost of product / service? • Price?

  10. No homework for today! • BUT, • Think about - the business ideas that you may have • your group members

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