(Podcast) Entrepreneurship

Episode 5 outlines the techniques of preparing a business plan which will help students to evaluate a business plan objectively, critically and practically. Students will be taught how to produce a blueprint for a realistic business plan. They will also be exposed to several methods and techniques of presenting an effective business plan.

Episode 7 discusses the importance of networking for entrepreneurs. Networking is one of the business approaches that contributes to entrepreneursÊ success. If entrepreneurs have very good networking with both external and internal customers, it will be easier for them to gain business opportunities and overcome some of the problems related to their business. This is because good networking relationships will enable them to gain support and cooperation from the networking circle. Therefore, every entrepreneur should develop networking skills to achieve their business goals and objectives.

Episode 8 discusses the evaluation of entrepreneurial opportunities. This topic also explains six common pitfalls in selecting new ventures. Students will be exposed to the critical factors involved in new venture assessment and the underlying factors of venture success. An effective evaluation process for new ventures will also be looked at in this topic.

Episode 9 discusses the need for personal financial planning and looking at the steps and benefits of financial planning as well. It will also explain the power of money in terms of building financial success and the basic budgeting and spending plan for an entrepreneur. The topic will also discuss the early signs of financial trouble that could be faced by an entrepreneur and explain the approaches on how an entrepreneur could get out of the financial trouble.

Episode 10 explains entrepreneur wealth building by having a good saving habit as this practice will ultimately increase the entrepreneur's net worth in the long term. The topic will also discuss an entrepreneur's need to plan for future uncertainties by taking into consideration the several types of insurance or takaful coverage. Students will be exposed to the various types of loans and credit cards available. They will learn how to manage their loans efficiently and avoid falling into a credit trap and become a credit defaulter.

Episode 1 introduces and defines entrepreneurship and discusses the evolution of entrepreneurship from the earliest period until today. It describes the importance of entrepreneurship to individuals, society and country. This topic also explains ten entrepreneurial myths as well as the scenario of entrepreneurship development in Malaysia.

Episode 2 focuses on 16 of the most often cited entrepreneurial characteristics. The entrepreneur self-assessment test is a means of getting insights into the individual entrepreneurial potential. This topic describes not only the differences between a small business owner and an entrepreneur but also the differences between a conventional manager and an entrepreneur.

Episode 3 is devoted to creativity and innovation. Entrepreneurs need to know the definition of creativity and innovation and their advantages and relationship in entrepreneurship. This topic explains the barriers towards creativity and innovation, as well as the strategy to encourage creativity and innovations among entrepreneurs in todayÊs business. Students will be exposed to opportunities and challenges in producing creative and innovative ideas, products and services that meet the challenges of todayÊs competitive business environment.

Episode 4 focuses on the environmental assessment in pursuing business opportunities and identifying threats that exist in the environment. It also explains elements in the internal and external environment of business ventures that influence entrepreneurial decisions and activities.

Episode 6 describes the various types of ventures that an entrepreneur can undertake. Here, students will be introduced to three common types of ventures. It will also explain the various phases of start-up steps to be taken when an entrepreneur wants to buy an existing business venture. We will also discuss some of the advantages and disadvantages of the different types of ventures, the legal structures for new ventures and various sources of capital for an entrepreneur starting a new venture.