Week 11 (KET 120044)

This week, we continued on the last of our syllabus, which is Skills in Project Management.

With our syllabus completed by this week, we can finally start our small business on next week. This will definitely put us to the test on whether we can apply the knowledge and skills that we have learned during the lectures in the past 10 weeks.

We will start our work soon and be prepared to run our business.

Week 11(9/5/2013) - KET120007

THIS WEEK THE LECTURE CONTINUES ON LAST WEEK'S TOPIC, SKILLS IN PROJECT MANAGEMENT. 


This week also marks the end of the syllabus for GXEX 1412 Basic of Entrepreneurship Culture.

Next week is Week 12, selling and poster display will be going on.

Week 10 ( 5/52013)

This is our poster.. Here show all the details of our business.. location , operating hours, menu, contact number.. So please do support us ^^!

Week 10 (KET 120044)

This week, we learned about:

Management

Process of administration and coordination of resources effectively & efficiently toward organisational objectives.
Functions are Planning, Organizing, Leading & Control

Planning

• Long term strategic
• Daily operation
• Fixed
• Once off
• MBO
• Contigency

Organizing

• Job scope
• Job distribution
• Job enlargement and enrichment
• Job rotation

Leading

• Characteristic of a leader
• High EQ
• Knowledgeable
• Strongly motivated
• Confident
• Honest
• Cognitive

Control

• Strategic
• Tactic
• Operation

Basic of Marketing

• Market size
• Market Segmentation
• SWOT analysis
• Marketing strategy
• Finance
• Proforma income statement

How do I feel about the things that I have learnt from this week's lecture?

I am glad to exposed to this management knowledge because it provide me the characteristic of a leader and the management skills. It is very useful to me as to be start and conduct a project

How am I going to apply the knowledge that I've gained?

• Try to improve myself according to the leadership list 
• Planing for any project using the guidance
• Use the marketing knowledge to conduct my business
• Learn to be a leader

Week 10 (KET120040)

Week 10 !!

Almost comes to an end ! Sad....But still take a look what new knowledge I have gained :D

The most important thing in the project management is planning. We carry out our project according to our plan. It is just like a map for which road we gonna take when we travel, it helps in keeping us on the track with our initial objectives. There is 2 types of planning, such as the long term planning and the day to day planning which is also known as operation. 

     After planning, we need a strong organisation which can execute the project according to the well-planned schedule and ensure the progress is up to date with the planner.

    A well-managed organisation definitely needs a capable leader. A wise and smart leader is able to conduct the whole project well without feeling panic even when encountered with problems. A well organized structure of an organization is also very important since we have to create several department which is in charge in different types of job. Right people must be assigned wisely according to their specialties into particular department. 

     Next, we need to do marketing research of the products which we are going to promote before starting a business. This is to ensure that we will get the biggest profit and to ensure that there is no loss in our project. A chinese idioms is well said : "Known well of your enemies, victory of every war".

How do I feel about the things that I've learnt from this week's lecture?
The knowledge that I have learnt through this week lesson is very useful to me. This is because it taught me how to ensure my project to be successfully done and completed. 

How am I going to apply the knowledge that I've gained?
I will apply the knowledge learnt in this week when I want to start a project or business. In order to success, we need to have project management skill which is very important in handling a project. I will try my best to acquire the traits of a successful leader which will be useful in my future group work or even working in the society !



Seet Cheng Hou (KET120040)

Week 10(2/5/2013) - KET120007

SKILLS IN PROJECT MANAGEMENT

1. Things that I've learnt from this week's class.
- Management is a process. It involves a small number of people guiding/leading a larger number of people, often sharing the similar aims.
- The four managing functions: Planning, Organizing, Leading, and Control.
- The attributes of a leader.

*MARKETING
- The fundamentals of marketing: market segmentation, different analyses techniques commonly found and used(eg. SWOT analysis)
- Marketing strategy
- Finance

 
2. How do I feel about the things that I've learnt from this week's lecture?
Although I have already know most of the things being taught this week, the sharing of knowledge by the lecturer further deepens my understanding and grasp on this particular topic


3. How am I going to apply the knowledge that I've gained?
I will try to do the SWOT analysis in my daily life as I find it quite useful and practical. I will try to lead as I admires the attributes of a leader compared to a follower.



# Management and strategy is important as a good start is a battle half won. 

WEEK 10

Week 10, we are reminded to submit our business plan by next week. Besides, this week topic is about Management Skills. I find the skills learned is so applicable not only to business but useful to our daily lives as well.

Management is a process of administrate & coordinate the resources effectively. The 4 management functions are:

1) Planning -framework activities done to obtain objectives
 - long term planning-> research
 - operational -> day-to-day basis
 - fixed -> (eg: 5-years Malaysia plan)
 - one-off -> come only once (eg: dinner)
 - Management By Objective (MBO) -> (eg: top level is the thinking, and strategy formulation, whereas bottom level implement in action)
 - contingency -> Alternative plan B

2) Organizing
 - Job design
 - Job Description
 - Job Enlargement
 - Job Enrichment
 - Job Rotation
 - Know your command chain

Organisation structure
 - function based like production & finance
 - division based is 2 or more department
 - matrix combined function & project based department
 - chain structure (eg: Giant, Tesco, Mydin)

3) Leading
Leading Attributes of Leaders
 - passionate
 - high emotional control
 - honest
 - motivating
 - cognitive ability
 - confident and firm
 - knowledgeable

4) Control 
Have long term strategy (eg: Bank has policies to enable payback)

Basics of Marketing
Government sells

Market Size
either monthly or yearly

Market Segmentation
in terms of geographic/ Demographics/ psycho graphics

SWOT analysis
 - Strength / weakness
 - Market share number
 - Sales forecast

Marketing strategy
 - product/ service
 - price
 - promotion
 - place to obtain products easily

Finance
 - Cash budget
 - Capital Budget
 - Operational budget

Proforma Income Statement:
 - Sales Forecast
 - Profit Target
 - Balance Sheet*



HON CHIEW EE
KET 120009