3rd week(7/3)

It's already week 3 but it was only my second time attending this class. It's quite a good thing that the class is conducted in English (which supposed to be in Malay, I guess) because I believe university students now are more adapted to English language in class.

Besides the jokes told by lecturer, i learnt quite a lot of things about entrepreneurship.

I was taught about the Nine Building Blocks of Business. After some research on the web, I found out what the "9" blocks actually mean.

Customer Segments – An organization serves one or several customer segments.
Value Propositions – It seeks to solve customer problems and satisfy customer needs with value propositions.
Channels – Value propositions are delivered to customers through communication, distribution, and sales Channels.
Customer Relationships – Customer relationships are established and maintained with each customer segment.
Revenue Streams – Revenue streams result from value propositions successfully offered to customers.
Key Resources – Key resources are the assets required to offer and deliver the previously described elements…
Key Activities – …by performing a number of key activities.
Key Partnerships – Some activities are outsourced and some resources are acquired outside the enterprise.
Cost Structure – The business model elements result in the cost structure.

Another new information I learnt from the previous lecture was that Islamic bank actually doesn't charge interest for their loan. If so, then how does the bank make profit to sustain it's operation? Well, the bank earns from buying and selling private properties. Citing an example if the house which the bank owns costs RM200,000, it is sold maybe for RM250,000. I'm not sure how the bank owns the house but I know that Islamic bank forbidden 'riba', so no interest for loan.