Entrepreneurship Report Draft 1

7/24/2019 Entrepreneurship Report Draft 1

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1.0 EXECUTIVE SUMMARY

During the hot sunny day, it will definitely help to refresh people with cold pudding

and beverages. Therefore, for this entrepreneurship project we decided to sell pudding with

two types of flavors with toppings and mineral water. The two types of flavors were chocolate

and corn.

We conducted our business for three days during UTHM ! th"onvocation. We sold

our products at Tun#u Tun $minah library, badminton court and football field since there

were competitions held at badminton court and football field during the first day of

convocation.

%efore we sold our products, preparations were being done such as buying the

materials and e&uipments needed for production of products. The prices of the materials and

e&uipments needed were being surveyed first to ensure we can obtain the best price. The

pudding were being prepared a night before the actual day of the sales.

$fter the first day of sale, we got to #now that the most of the customer preferred

chocolate flavor pudding compared to corn. Therefore, we produced more chocolate flavor

pudding to satisfy the needs' of customer. The account for our sales was being calculated to

#now the profit of the business.


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2.0 BUSINESS DESCRIPTION

2.1 Business Backg!un"

$li %aba (tall is our business company's name which was established for the

academic purpose of )ntrepreneurship. This business was founded by our group which

consists of si* members. +ur business sold cold pudding dadih- and some beverages during

the University's !th "onvocation "eremony which was held from rd to !th +ctober at the

Dewan (ultan /brahim, UTHM. %esides, we also sold our products during badminton and

football competitions which were held in UTHM on rd+ctober.

The idea to sell this product comes after long discussion. +nce we #new the upcoming

convocation ceremony is going to be held in UTHM, we too# that opportunity to sell our

products. We made another discussion among other groups which involve in selling their

things about area of mar#eting and our products in order to minimi0e the competition.

%efore we start our business, we listed all the ingredients needed to ma#e a cold

pudding. Then, we made a survey about the prices of the ingredients in order to determine the

net price for each item that we are going to sell on that day. +nce we obtained all the

information about the prices, we made a target of selling. %y doing so, we can estimate the

profits if we manage to sell all the products on that day.

During the convocation day, we sold our products at Tun#u Tun $minah 1ibrary

which is located near the convocation hall. The place was strategic as the people fre&uently

too# a rest and wait their relatives who were graduating that day throughout the convocation

ceremony. %esides, we also sold our products at badminton court and football field whereas

the competitions were held.

We hope that we will provide a better service in the future, where the priority is thecomfort and satisfaction of the customers.

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2.2 Missi!n S#a#e$en#

The mission of our company is to produce a high &uality and new local brand of

pudding to the world. We aim to be the first company to produce and e*port the local brand

Malaysian pudding dadih- throughout the world by providing the best value, wide assortment

of goods and continuous e*cellence based on our business formula. However, the most

important goal of our company is to increase revenue and profits in order to generate a fair

return to our investors.

2.% &!a's ( O)*ec#i+es

2.%.1 O)*ec#i+es

To ma*imise the business profit in a short term.

To provide good and 3halal' products that can meet the satisfaction of the customers.

To introduce Malaysian brand of pudding to the world

To ensure the ability of the business to compete with competitors in the mar#et.

2.%.2 Oganisa#i!na' g!a's

The main goal of every organi0ation is to earn profits and to remain as a competitive

organi0ation. The goal of the organi0ation is to4

)nsure the company is able to provide good and 3halal' product for customers.

)nsure good relations between management, employees and customers.

To produce s#illed manpower who can wor# well in the organi0ation.

)nsure the welfare of the employees guaranteed.


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2., M!##! an" -!g!

5your satisfaction guaranteed6

2. -!ca#i!n

Universiti Tun Hussein +nn Malaysia,

789:: ;arit


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2./ Basic In!$a#i!n

"ompany's >ame 4 $li %aba

1ocation 4 Universiti Tun Hussein +nn,

789:: ;arit + 7,=1> !, T$M$> W$=$

789:: ;T


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2. Manage$en# Tea$

2..1 unc#i!ns an" Res3!nsi)i'i#ies

Ceneral Manager

To plan and prioriti0e the company, determine the mission of developing rules and

procedures.

"ontrol and giving instructions to subordinates.

To identify and resolve the problems effectively.

Ta#e care of employee's welfare.

FiceACeneral Manager

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Help general manager or other e*ecutives plan, develop, implement and oversee

company initiatives and project.

"oaches and cheerleaders or motivating personnel to meet company goal.

$nalyse and implement policies and procedures, oversee short and longAterm business

plans and initiatives and also help in budgeting activities.

Mar#eting Manager

+versees promotion and communicating the companyGs appearance to the public.

To ensure that the target of daily mar#et is achieved and customers are satisfied with

&uality of service.

;roduce identification mar# of the company signage and directions-.

+perations Manager

)nsure services are provided with the best &uality.


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purchase of inputs.

%.0 PRODUCT DESCRIPTION

%.1 C!$3e#i#i+e A"+an#age

$ competitive advantage is an advantage over competitors gained by offering

consumers greater value, either by means of lower prices or by providing greater benefits and

service that justifies higher prices. /n case of our business, we were offering the consumer the

good and easy to get product. $lthough the price that we offered was very low and affordable

for consumers, we still get the benefits as our target. /n addition to the satisfaction of the

customers, we also can meet the satisfaction of our company.

%.2 Re+ie4 ! i$5s T!3 C!$3e#i#!s an" T6ei Re'a#i+e Make# S6ae

When we start our project, we could see that the other competitor have their own

strategies and wor# hard to run their business. They used to sell variety of food and drin# at

the public places which have easy access for the costumer. Their product also really attractive

and suited with the customers' desires. irm $ which was selling snac# and beverages near

convocation hall and irm % which was selling food and pudding were our main rivals. $s our

competitors #ept attracting their customers, we tried to find another ways to compete with

them to increase the number of customers.

%.% E7a$ine Make#s #6a# C!$3e#i#!s Se+e an" #6e S#a#egies T6e8

E$3'!8

+ur competitors basically sold food type products which were more attractive than

beverages that we sold. +ne of the advantages they had was they have a specific place to sell

their product and they ran the business near the convocation hall so costumer can easily buy

their merchandise. The days entrepreneurial project was held from I.:: am to .:: pm daily.

The competitors sold food such as drin#, snac# and pudding which were suitable to be eaten

at any time and relieved their thirst during a hot day.

%., Baies #! En#8

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%arriers to entry are factors that prevent us to startup the business. $s a whole, we

comprise one of the five forces that determine the intensity of competition in an industry. The

intensity of competition in a certain field determines the attractiveness of a mar#et as e*amplethe low intensity means that the mar#et is attractive.

%.,.1 Ne#4!k eec#

$ networ# effect is the effect that multiple users have on the value of a good or service

to other users. The greater the number of people using the specific good or service the greater

the individuals benefit. /f a strong networ# already e*ists it may limit new entrants who fail to

gain sufficient numbers of users to create a positive networ# effect. The spread of popularity

of the telephone in the 2: th"entury, and more recently the increased popularity of social

media, are e*ample of strong networ# effects. However, we used the wrong strategy as we did

not use social networ#ing websites such as aceboo#, Twitter and /nstagram as our medium to

attract more costumers.

%.,.2 Cus#!$e '!8a'#8

1arge incumbent firms may have e*isting customers loyal to established products. The

presence of established strong brands within a mar#et can be a barrier to entry in this case. $s

in our business project, there are several loyal customers that helped us on promoting our firm

to others and also supported us by buying our products. +ur loyal customer includes our

classmates, the visitors from outside and public people.

%. S#a#egies #! O+ec!$e Baies

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.!. "ost 1eadership (trategy

The goal of our business to earn a suitable profit for the company and to offer products

or services at the lowest cost in the industry. The strategy also gives a huge challenge due to

the loss and draining profitability from all mar#et players. ;roducts are to be created at the

lowest cost in the industry. $n e*ample was to bought our ingredient at the shop with lowest

prices and sold the products reasonably to the customers.

.!.2 Differentiation (trategy

The goal of differentiation strategy is to provide a variety of products, services, or

features to consumers that competitors are not yet offering or are unable to offer. This strategy

gives a direct advantage to the company which is able to provide a uni&ue product or service

that none of its competitors are able to offer. $n e*ample that we had implemented in our

business project was by selling 3dadih' and drin#s during the convocation day and at the field

during a football game. We also bring our product all entire UTHM. (o that, the customer can

easily get the product without need to go to the specific booth.

.!. /nnovation (trategy

The goal of innovation strategy is to leapfrog other mar#et players by the introduction

of completely new or notably better products or services. %y using this strategy, we were able

to sell our 3dadih' which has their own ingredient and have topping was totally different from

other firms. +ur 3dadih' also had a favourable response from the customers as no firms sold

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the same type of product.

.!.9 +perational )ffectiveness (trategy

The goal of operational effectiveness as a strategy is to perform internal business

activities better than competitors, ma#ing the company easier or more pleasurable to do

business with than other mar#et choices. /t improves the characteristics of the company while

lowering the time it ta#es to get the products on the mar#et with a great start. +perating as one

firm, we were very comfortable wor#ing with each other thus ma#ing all the wor#s to be

easier to be done.

,.0 MAR9ET ANA-YSIS

,.1 De$!ga36ics

The target groups were divided into two groups based on the agerefer Table 9.-4

Table 9. Demographic /nformation

Age 1:;2 %0;/0

&en"e Male or emale Male or emale

Inc!$e Dependent on parents or loan $verage


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)vent4 UTHM !th"onvocations


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.0 MAR9ETIN& MIX

.1 P!"uc# >s6!4 in 3ic#ue?

We offered puddings dadih- and water mineral for the food and drin# mar#et which

were sold during the University's !th"onvocation "eremony. We provided customers with

two types of flavours which were chocolate and corn. ;uddings have pleasant taste,

characteristic aroma and colourful appearance. /n addition, puddings have a sil#y and smooth

structure which is neither too li&uid nor contains solid particles. The corn and chocolate

puddings were homemade and pac#ed into small cups. They are small and light enough to be

easily carried for selling, and these actually have cut off the costs to ship both in and out.

"hocolate and corn pudding are e*pected to have high potential to satisfy customer's needs as

they can provide customers with cool and comforting feelings after eating especially during

the summer.

.2 Pice

The price was established based on the affordability of the customers in campus. Therefore,

the price of the products was affordable for all the students in the campus. The price was fi*ed

as shown as the figure below.. ;udding dadih- 4


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;ersonel selling is where businesses use people to sell the product after meeting faceA

toAface with the customer. $li %aba group members all involved in promoting the

product through attitude, appearance and specialist product #nowledge. We aimed to

inform and encourage the customer to buy, or at least trial the products.

;ointAofAsale displays. ;uddings were #ept safe by putting them in ice bo* during hot

weather at outdoor mar#ets and a printed cardboard display stand with small posters

was displayed when selling the products.

(ales promotion. 3buy five puddings and get one free pudding' was a special sale

promotion used to attract the interest of customers to buy more puddings.

., P'ace

;uddings and water minerals were sold at badminton hall and football field. +n rd

+ctober 2:!, there were badminton and football competitions held in badminton hall and

football field. +n the same day, convocation ceremony was also held in Tun#u /brahim /smail

hall, UTHM. These places were acted as a result of evaluation of the mar#etplace. Members

of $li %aba group made peddling to sell the products directly to the customers.

/.0 OPERATIONA- P-AN

/.1 P!"uc#i!n $e#6!" an" c!n#!'

Due to the capacity of our business is &uite small, we decide to ma#e our product

by ourselves

We have scheduled some meeting before we run our project to ma#e sure

everything will run smoothly

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We have decide a day for us to search for all the needed for the project

$ll the preparation are made by our team

/.2 -!ca#i!n

1ocation of our project also has been decided during the meeting

We ta#e the advantages from the event that being held at UTHM at that time

We decide to sell our product at estival onvo#esyen UTHM !, football event,

badminton event and some open places

/.% Pe$i# an" 'icensing

Due to capacity and our selling method, we didn't re&uesting for any permit

because we not even have a specific places and stall for our product

+ur selling method more li#ely to doorAtoAdoor method

/., Risk $anage$en#

- )very business have ris# even a small business li#e us

-


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- +ur product only sold in a small capacity, and also a short term project. (o we decide

to only buy the goods at the nearest shop and did not have any transaction with

supplier

/. Ce"i# 3!'icies

- +ur project only re&uired small amount of capital so we decide to have the capital that

collected among our team.

.0 INANCIA- P-AN

.1 P!*ec# I$3'e$en#a#i!n C!s#

RM RM>I? Pe'a)uan Ase#

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Te#a3

Mesin dan peralatan :

;erabot dan #eleng#apan :

enderaanA#ereta :

Ubahsuai :;apan tanda : :

>II? Peun#ukan M!"a'

9e*a

%elanja pemasaran J

!

%elanja operasi

J

J

I:

%elanja pentadbiran

J

J

J

8:

9

!!

>III? Pe)e'an*aan 'ain

Deposit sewa

:

Deposit air dan eletri#

:

%elanja permulaan

: :

@u$'a6 k!s 3!*ek

,

Pe)e'an*aan 'ua

*angka >?

22.

@UM-Aame 4 Tiong ah Eong

Cender 4 emale

>


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Pes!na' In!$a#i!n

E"uca#i!n -e+e'

2:: (;M from (M$ Taiping

2 2:2 olej Mara ulim Matriculation-

Undergraduate at UTHM %achelor of "ivil )ngineering with Honour-

Pes!na' A)i'i#8

(trong presentation s#ill

2 Cood interpersonal s#ill

1eadership

9 (elfAdiscipline

! %e enthusiastic in doing wor#

8 Cood management

22

>ame 4 Muhammad $00amudeen %. /dris

(ha0ali

Cender 4 Male

>


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Pes!na' In!$a#i!n

Date of $pplication 4

N : N 2:!

2

>ame 4 Wong Eee Hui

Cender 4 emale

>o. Home- 4 :!A8I2!9

Mobile- 4 :8A!27BI7

)mail $ddress 4 yeehuiwongIgmail.com

Marital (tatus 4 (ingle


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E"uca#i!n -e+e'

. 2:: (;M from (M Methodist $"(, (itiawan

2. 2:2 (T;M from (M Methodist $"(, (itiawan

. Undergraduate at UTHM %achelor of "ivil )ngineering with Honour-

Pes!na' A)i'i#8

. (elfADiscipline

2. Cood time management

Pes!na' In!$a#i!n


N : N 2:!

29


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E"uca#i!n -e+e'

. 2:2 (;M from (e#olah Menengah $gama (impang 1ima

2. 2: Craduated from ;enang Matriculation "ollege


Pes!na' A)i'i#ies

. $ble to spea# well in )nglish

2. $ble use Microsoft +ffice

Pes!na' In!$a#i!n

2!

>ame 4 Muhammad Hu0aini bin

=amaluddin

Cender 4 Male

>


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E"uca#i!n -e+e'

. 2:2 (;M from (e#olah Menengah $gama ;erse#utuan 1abu

2. 2: Craduated from Malacca Matriculation "ollege


Pes!na' A)i'i#ies


2. +btained culinary certificate from ;T;T1 "ollege.

. +btained basic motor control certificate from /ndustrial Training /nstitute Cong %ada#

9. )*cel in using Microsoft Word, Microsoft )*cel, Microsoft ;ower ;oint and $dobe

;hotoshop.

Pes!na' In!$a#i!n

28

>ame 4 Mohd (hafi& /mran %in $bdul

$0i0

Cender 4 Male

>o. Home- 4 :IA829:2I

Mobile- 4 :A899B

)mail $ddress 4 i&mranI9yahoo.com

Marital (tatus 4 (ingle
mailto:[email protected]:[email protected]


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N : N 2:!

E"uca#i!n -e+e'

. 2:: (;M from (e#olah Menengah %u#it uda lang

2. 2:2 Craduated from (M Methodist $"(- lang


Pes!na' A)i'i#ies


2. $ble use Microsoft +ffice

2B

>ame 4 oh "hiew )e

Cender 4 emale

>


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P6!#!s !n #6e Se''ing Da8s

;udding.

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(elling pudding to outsiders coming for UTHM convocation.

(elling mineral water to UTHM students.

2I


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Documents

Entrepreneurship Report Draft 1