Week 9 (KET 120044)

In last week of basic Entrepreneurship culture course, I got knowledge about Project management and basics of marketing . Beside 4 management functions which are planning , organizing , leading and control.
Project management
Easiest way to define project management is the application of knowledge , skills and techniques to execute projects effectively and efficiently.
 Basically what we should do is that be expertly managed to deliver the on-time, on-budget results, learning and integration which our organizations need.
To have a good project management all four functions play a very important role for example first of all we need  Planning which can help to have good coordination, focussed, have work environment in the form of participation and have effective control systems. Secondly Organizing which is the process of determining the task needed to be done( list of duties) thirdly which is so important is Leading . A good leader inspires team member, boosts morale and encourages effective communication among members. Excellent leadership can even increase the organization's income. And last not least is Control of business  which is the Strategic in long-term , it's so important to avoid our plans from failing.

the second part of lecture notes was about basic of marketing include market size, market segmentation, swot analysis, marketing strategy and finance.

Pro-forma income statement
•Sales Forecast
•Profit Target
•Balance Sheet

Break-even point: Fixed Cost/Selling price – Variable Cost

These are all that we have learned during that week. I will try my best to apply these knowledge when we start our business later in the future.