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Module 1

- The business environment consists of internal and external factors. The external environment includes the macroenvironment and microenvironment. - The macroenvironment comprises broad factors such as economic, technological, political-legal, and socio-cultural forces. The microenvironment includes factors close to the business such as suppliers, customers, competitors and public. - The internal environment encompasses internal factors that are under the business's control including organizational structure, culture, resources and employees. The structure and culture shape how the business operates. Resources such as financial, physical and human resources are key to business success.

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0% found this document useful (0 votes)

202 views366 pages

Module 1

Uploaded by

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TECHNOLOGY

ENTREPRENEURSHIP
(ACS 3073)
EN MAHATHIR MUHAMAD
MODULE 1: OVERVIEW
OF ENTREPRENEURSHIP
LEARNING OUTCOMES

Explain the definitions of entrepreneurship, intrapreneurship and

technopreneurship
Describe the similarities and differences between entrepreneurship
and
technopreneurship

Differentiate the entrepreneurial and technopreneurial processes

Discuss entrepreneurship development in Malaysia and Asia

ENTREPRENEURSHIP
ENTREPRENEURSHIP

AN ENTREPRENEUR IS DEFINED AS A
PERSON WHO ORGANIZES, OPERATES,
AND ASSUMES THE RISK(S) FOR A
BUSINESS VENTURE
EXAMPLE OF
TECH-
ENTREPRENEUR
THAT YOU KNOW
YOU KNOW
THEM?
INTRAPRENEUR
INTRAPRENEUR
• INDIVIDUALS IN ORGANIZATIONS WHO HAVE
HIGH ENTREPRENEURIAL CHARACTERISTICS.
• BELIEVE ON TALENT AND ABILITY
• OWN INITIATIVE AND CREATIVITY
TECHNOPRENEUR
ENTREPRENEUR WHOSE BUSINESS
INVOLVES HIGH TECHNOLOGY
Technolog Entrepreneurshi Technopreneurshi
y p p
SIMILIARITY ENTREPRENEURSHIP AND
TECHNOPRENEURSHIP
• ABLE TO DETERMINE RISK AND HAS THE COURAGE TO TAKE RISKS
• INDEPENDENT AND SELF-CONFIDENT, YET KNOWS WHEN TO GET
HELP
• LIKES A CHALLENGE
• HARDWORKING AND TENACIOUS
• NOT EASILY DISCOURAGED
• ROBUST, VERY ENERGETIC AND CAN HANDLE STRESS
• HAS A STRONG SENSE OF SELF-WORTH
• A POSITIVE THINKER WHO DOES NOT DWELL ON SETBACKS
• OFTEN HAS A CLOSE FRIEND OR RELATIVE WHO OWNS A BUSINESS
ENTREPRENEUR VS
TECHNOPRENEUR
ENTREPRENEUR VS INTRAPRENEUR
CHARACTERISTIC OF SUCCESSFUL
ENTREPRENEUR
Motivated by Desire for
personal and independence React quickly to
family and a strong change
considerations sense of initiative

Dedicated to
their businesses
ENTREPRENEURIA
L
PROCESS
ENTREPRENEU
RIAL PROCESS
TECHNOPRENEURIA
L
PROCESS
TECHNOPRENEU
RIAL PROCESS
TECHNOPRENEURSHIP
DEVELOPMENT
UNITED
STATE ASIA MALAYSIA

SILICON VALLEY TAIWAN CYBERJAYA

SINGAPORE - PC c

INDIA -
BANGALORE
TECHNOPRENE
UR FLAGSHIP
APPLICATION
MALAYSIA
ECONOMIC
TRANSFORMATIO
N AND DRIVERS
SUMMARY
• ENTREPRENEURSHIP IS THE PRACTICE OF EMBARKING ON
A NEW BUSINESS OR REVIVING AN EXISTING BUSINESS BY
POOLING RELIABLE RESOURCES IN ORDER TO
EXPLOIT NEW-FOUND OPPORTUNITIES.
• TECHNOPRENEURS ARE ENTREPRENEURS WHO USE
TECHNOLOGY AS THEIR DRIVING FACTOR IN
TRANSFORMING RESOURCES INTO GOODS AND SERVICES,
AND OFFERING SOLUTIONS THAT GIVE RISE TO NEW
BUSINESS MODELS, REVENUES AND ECONOMIC GROWTH
SUMMARY (VIDEO)
CHAPTER
1 2
Business
Environment
Learning Outcomes

At the end of this chapter, you should be able to:

• explain the components of business environment

• list out the major components of macroenvironment
• describe the major components of microenvironment
• explain the major factors of internal elements

TECHNOPRENEURSHIP Second Edition All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 31
The Components of Business
Environment (cont.)
Internal Environment (cont.)
Structure
• The structure of a firm is the hierarchical arrangement of
tasks and people which determines
– how information flows within the firm,
– which departments are responsible for which
activities, and
– where the decision-making power rests.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 32
The Components of Business
Environment (cont.)
Flat structure: An organizational
structure in which most middle
management functions are
eliminated, allowing senior
management to have greater
exposure to customers and to those
in the organization that deal with
customers

Tall structure: An organizational

structure with an overall narrow span
and more hierarchical levels. In such
organizations, there are usually many
managers, and each manager is in
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charge
TECHNOPRENEURSHIP of only
Second a small group of people.
Edition
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 33
The Components of Business
Environment (cont.)
• Also known as cross-functional team
• Is a hybrid type of departmentalization
• In which personnel from several specialties are brought together to
complete limited-life tasks

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Organizational Culture

• A pattern of shared basic assumptions the firm learns as

it solves its problems of external adaptation and internal
integration that have worked well enough to be
considered valid, and to be taught to new members as
the correct way to perceive, think, and feel in relation to
those problems.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 36
The Components of Business
Environment (cont.)
Resources
Human
– Human resources are the vital resource for all businesses.
These are the people who work for an organization. Their skills
and knowledge are invaluable to the managers.
Monetary
– Monetary resources are amounts of money used by managers to
pay for goods and services for the organization.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Raw materials
– Raw materials are the elements used directly to manufacture
products.
– Examples of raw materials would be wood, rubber, metal and
lead used to make a pencil.
Capital resources
– Capital resources are the machines used during the
manufacturing process. Modern machines can greatly improve
the efficiency of the manufacturing process. If an organization
uses old obsolete machinery it may not be able to compete with
an organization using more efficient machinery.

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Customers
• Customers are people and organizations in the
environment who acquire goods or services from the
organization.
• Customers obviously represent uncertainty to an
organization. Their tastes can change and they can
become dissatisfied with the organization’s product or
service.
• For example, MIAT (organization) offers training courses
for aircraft engineers (customers) to serve the airlines
industry namely MAS, AirAsia, etc.

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Competitors
• Competitors are other organizations in the same industry or
type of business that provide goods or services to the same
set of customers.
• In most industries, competitive moves by one firm affect other
firms in the industry, which may incite revenge or
countermoves.
• Competitors compete with each other for market share and
for the favourable comments of the investment analysts.
• In many industries, every new product introduction, marketing
promotion, and capacity expansion has implications for the
revenues, costs and profits of other competitors.
TECHNOPRENEURSHIP Second Edition All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 41
Microenvironment (cont.)

Suppliers
• Suppliers for industries provide equipment, supplies,
component parts, and raw materials. The labour and
capital markets from which firms draw their employees
and investment funds are also a source of supply.
• Powerful suppliers can raise their prices and therefore
reduce profitability levels in the buying industry.
• They can also exert influence and increase uncertainty
for the buying industry by threatening to raise prices,
reducing the quality of goods or services provided, or not
delivering supplies when needed.
TECHNOPRENEURSHIP Second Edition All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 42
Microenvironment (cont.)

Government Agencies
• Government agencies provide infrastructure, advisory
services, training, and financial supports to existing and
future technopreneurs.
• For example, the Ministry of International Trade and
Industry (MITI) is a government agency that has been
given the mandate and responsibility to plan, legislate
and implement international trade and industrial policies
that will ensure Malaysia’s rapiddevelopment towards
achieving National Economic Policy and Vision 2020.

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Non-Government Organization (NGO)

• Consumer societies, political organizations, religious
groups, business societies, environmental groups and
others are among interest groups that can influence
businesses.
• These groups can play their respective roles in business
through campaigns against products or services, and by
disseminating information regarding certain products,
which can further influence consumers and pressure the
government into taking action on certain issues.

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Financial Institutions
• A financial institution is an institution that provides
financial services for its clients or members.
• The finance industry encompasses a broad range of
organizations that deal with the management of money.
• Among these organizations are banks, credit card
companies, insurance companies, consumer finance
companies, stock brokerages, and investment funds.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment - Political

• The political environment can impact business organizations
in many ways. It could add a risk factor and lead to a major
loss. Organizations should understand that the political
factors have the power to change results.
• It can also affect government policies at local to federal
levels.
• Some political factors that have a significant impact on
businesses are
• government policies,
• tax laws and tariff ,
• stability of government, and All Rights Reserved
TECHNOPRENEURSHIP Second Edition
• entry
© Oxford Fajar Sdn. Bhd. (008974-T), mode regulations.
2016 1– 47
Macroenvironment (cont.)

Components of a Macroenvironment - Economy

• Economic forces can be grouped into three main
categories:
– current conditions
– economic cycles
– structural changes

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment – Socio-Cultural

• Socio-culture is the influence in a society and its culture that
changes people’s attitudes, beliefs, norms, customs, and
lifestyles.
• Demographic change is a major concern for an organization,
since changes in the number and age of the population will
directly affect the demands for particular products and
services.
• Demographics also play an important role in an organization’s
approach to marketing and advertising.
• Some of the demographic issues are population size and
distribution, age distribution, education levels, income levels,
etc.
TECHNOPRENEURSHIP Second Edition All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 49
Macroenvironment (cont.)

Components of a Macroenvironment - Technology

• Technological analysis requires scanning and monitoring
from the beginning of basic research to product
development and commercialization.
• Technology is an increasingly important environmental
influence and is prompting managements to reconsider
the way they fundamentally operate.
• Advances in information technology in particular can
affect all aspects of a business, from its overall strategic
position to how it manages marketing, design, production
and distribution.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment – Technology

Change
• Technological change is an increase in the efficiency of a
product or process that results in an increase in output,
without an increase in input.
• Technological change takes two forms:
• breakthrough invention : Breakthrough (pure) invention
refers to the creation of something new that is different from
the existing technology or products that will create a new
platform for future research and process innovation.
• Process innovation refers to the changes in design, product
formulation and manufacturing, materials, and distribution.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment – Environment

• Key environmental issues affecting businesses include

industrial waste, sustainable development of raw
materials and water and air emissions.
• These issues affect businesses because laws require
businesses to change equipment and procedures to
meet imposed standards, which cost businesses money.
• Many businesses undertake stricter changes in an effort
to preserve the environment and ‘do what’s right’.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment – Environment

• Some environmental factors are

– geographical location,
– the climate and weather,
– waste disposal laws,
– energy consumption regulation, and
– people’s attitude towards the environment.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Components of a Macroenvironment – Legal

• Federal, state and local governments can infl uence what an organization
can and cannot do. Some federal legislations are known to give signifi cant
implications.
• Organizations spend a great deal of time and money to meet governmental
regulations but the effects of these regulations can extend beyond time and
money. They also reduce managerial discretion by limiting the choices
available to managers.
• Legal systems vary between countries and often have a direct impact on
organizations by placing boundaries on what they can and cannot do.
• Examples of such legislation include
– Green Technology Regulation,
– Occupational Safety and Health Act (OSHA)
–
TECHNOPRENEURSHIPIntellectual
Second EditionProperty Acts All Rights Reserved

– Bhd.Employment
© Oxford Fajar Sdn. (008974-T), 2016Act 1955. 1– 54
CHAPTER
1 3
Business Opportunities
Through Creative and
Innovative Ideas
Learning Outcomes

At the end of this chapter, you should be able to:

• Identify, evaluate and select business opportunities

• Identify the types of risk
• Define and describe creativity
• Discuss the characteristics of a creative individual
• Differentiate between forms of innovation and types of
innovation

TECHNOPRENEURSHIP Second Edition All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 57
When Is An Idea An
Opportunity
• What it is
– Can it be converted into a product or service
– Novelty, disruptive technology
• Not just any idea, not just any product
– New invention?
– Replacement product?
– Substitute product? [better mouse trap?]
– Solving a problem vs. good to have
– Disruptive – does it change the way you live, work?
• Can it sell
– Market?
– Will people buy?
– How do I reach them?
TECHNOPRENEURSHIP Second Edition All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 58
Identifying, Evaluating and
Selecting a Business Opportunity
• Step 1: Identifying Customers’ Needs and Wants
• Step 2: Environmental Scanning, Self-Evaluation and
Community Values/Norms
• Step 3: Screening of Business Opportunities
• Step 4: Selecting the Best Business Opportunity

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Creativity behaviour

Age Group Highly Creative

(%)
5 or younger 90
6 and 7 10
8 and older 2
• (Logical, realistic, should, right/wrong, bad, no)

TECHNOPRENEURSHIP Second Edition All Rights Reserved

How to Generate Creative Ideas

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• IKEA
– Stylish, quality furniture
– Knockdown format
– Unique and fun buying experience
– Affordable
• DELL
– Uses leading-edge supply chain management
– Real-time inventory
– Provides clients with customization
– Passes efficiency and costs reduction to clients
• Apple
– Innovative User Experience
– Stylish look and feel
– Image
– Radical technology applications

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Why Is Creativity Important?

(1) To ensure an organization’s survival

(2) To explore new markets
(3) To exploit natural resources

TECHNOPRENEURSHIP Second Edition All Rights Reserved

CREATIVITY INNOVATION

TECHNOPRENEURSHIP Second Edition All Rights Reserved

What is innovation?

“Innovation is finding ways to deliver new or better goods

or services.”
Kinicki and Williams 2003

“Innovation is also deemed as the creation of something

new in the marketplace that alters the supply-demand
equation.”
(Chell, 2001)

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Comes from the ability to see what others are seeing,

but thinking what no one else is thinking.
(Successful exploitation of new ideas)

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Strategies
Recognize your own Change your perception
ability

Change your Dare to Fail

organizational culture

TECHNOPRENEURSHIP Second Edition All Rights Reserved

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 69
MODULE 3: BUSINESS
OPPORTUNITIES THROUGH
CREATIVE AND INNOVATIVE
IDEAS
FACULTY OF BUSINESS AND ENTREPRENEURSHIP, UMK
LEARNING OUTCOMES

• Identify, evaluate and select business opportunities

• Identify the types of risk
• Define and describe creativity
• Discuss the characteristics of a creative individual
• Differentiate between forms of innovation and types of
innovation
WHEN IS AN IDEA AN
OPPORTUNITY?

Add Significant Solve Significant Good Fit with the

Value to Customer Problem Founder

Has Robust
Market
ROBUST MARKET
Large Enough
High Growth
High Margins
High Profit Potential
Attractive
Strong and Early Free Cash Flow
IDENTIFYING, EVALUATING AND
SELECTING A BUSINESS OPPORTUNITY
STEP 1: IDENTIFYING CUSTOMERS’
NEEDS AND WANTS

SERVICE NEEDS

IDENTIFY

PRODUCT WANTS
STEP 2: ENVIRONMENTAL SCANNING, SELF-
EVALUATION AND
COMMUNITY VALUES/NORMS
ENVIRONMENT SELF- VALUES
FACTOR 1

FACTOR 2

FACTOR 3
AL SCANNING EVALUATION -Beneficial to
- Macro and Micro community
perspective
SELF-EVALUATION
STEP 3: SCREENING OF BUSINESS
OPPORTUNITIES

MONOPOLY
CAPITAL
POWER AND
LEGALITY REQUIREMENT RISKS
LEVEL OF
S
COMPETITION
TYPES OF BUSINESS RISKS
TYPES OF FINANCIAL RISKS
STEP 4: SELECTING THE BEST
BUSINESS OPPORTUNITY
• An entrepreneur needs to assess the business risks, as well as
evaluate and review the first three steps before making the
decision to venture into a business.

• Thus, the success or failure of a business venture depends on

the entrepreneur’s business opportunity selection.
CREATIVITY
CREATIVITY
• Creativity involves the development of unique and novel
responses to problems and opportunities.
CREATIVITY
PROCESS
CREATIVITY PROCESS

PHASE 4 :
PHASE 2:
EVALUATION AND
• COMPILE INCUBATION • FORMULATING IMPLEMENTATION
INFORMATION SOLUTIONS
• EXAMPLE : JOIN • GET RID OF • EXAMPLE : • TRANSFORMED
SEMINAR; TRAVEL PROBLEM DAYDREAM; INTO REALITY
• BRAINSTROM FANTASIZE • TEST THE IDEA

PHASE 1:
KNOWLEDGE PHASE 3: IDEAS
ACCUMULATION
HOW TO GENERATE CREATIVE
IDEAS
CHARACTERISTICS OF CREATIVE
INDIVIDUALS
INNOVATION
INNOVATION
• Innovation is the transformation of new knowledge into new products
and services

• Innovation is a process by which entrepreneurs convert opportunities

into marketable ideas (Howell & Higgins, 1990)

• According to Drucker (1985), innovation is the specific instrument of

entrepreneurs, the means by which they exploit change as an opportunity
for a different business or a different service.
FORMS OF INNOVATION
TYPE OF INNOVATION

INVENTION EXTENTION

DUPLICATIO
N SYNTHESIS
SUMMARY
• Business opportunities exist in two situations: (a) when the existing product does not meet
the demands and preferences of customers, and (b) when customers demand a new product
to meet their specifications

• There are four major steps in identifying, evaluating and selecting a business opportunity:
(a) identifying customers’ need and wants, (b) environmental scanning, conducting self-
evaluation and evaluating the community’s values and norms, (c) screening business
opportunities and (d) selecting the best business opportunity.
CHAPTER
4 4
Building Your Own
Start-up Technology
Venture
Learning Outcomes

At the end of the topic, students should be able to:

1. Outline the role of SME in the Malaysian economy.

2. Discuss the definition and importance of SME in economy.
3. Describe the characteristics of small businesses.
4. Identify the levels of management and the general management
functions.
5. Differentiate the various types of business establishments in Malaysia.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• SMEs play a major role in the Malaysian economy.

• The development of SMEs started during New Economic Policy (1971–
1990).
• A survey done in 2011 found that there were 645,136 SMEs established
in Malaysia, made up of 97.30%of 662,939 total establishments.
• These SMEs employed a total of 3,669,259 workforce in 2011.
• Contribute up to 35.9% of total GDP in 2014.
• The importance of small and medium-sized businesses:
 creating job opportunities,
 contributing to the prosperity of big and multinational corporations.
 enhance the industry through creativity and innovation.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• On 2 October 2009, Small and Medium Enterprise Corporation Malaysia

(SME Corp. Malaysia) was setup.
• SME Corp is now the central point of reference for information and
advisory services for all SMEs in Malaysia.
• The SME Masterplan 2012-2020 will be the 'game changer' to accelerate
the growth of SMEs to achieve high income nation status by 2020.
• The Masterplan is based on public-private partnership whereby the lead
agencies will undertake this programme in collaboration with the private
sector.
• The SME Masterplan aims at raising the contribution of SMEs to the
economy to 41% by 2020.
• SME GDP has been growing at a faster pace of 6.6% compared to 5% of
the overall GDP growth.
• The employment associated with SME is to increase from 59% to 62%.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

The use of common definitions for SMEs will:

• strengthen government efforts to create effective policies and support
programmes for specific target ;
• make it easier to provide technical and financial assistance to SMEs; and
• allow for the identification of SMEs in the various categories and levels.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

SMEs can be grouped into :

Micro, Small, or Medium

These groupings are decided based on

EITHER
the numbers of people a business employs
OR
on the total sales or revenue generated by a business in a year.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Management - The entrepreneur leads the company and acts as

both manager and worker.
• Resources - often has limited resources.
• Organisational Structure - structure is often flat and informal.
• Flexibility of Change - The business has more flexibility to adapt to
changes in the environment due to it size and informal structure.
• Firm Age - business can still be considered as new if the
establishment ages two-to-five years.
• Annual Revenue - annual revenue of five million ringgit can be used
as the proximity to characterize the upper limit of SMEs.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Definition:
A management function that involves defining goals, establish strategies for
achieving those goals, and developing plans to integrate and coordinate
activities.

• Much of this information will come directly from the vision and mission
statements of the company.
• Setting objectives for the goal and following up on the execution of the
plan are two critical components of the planning function.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Plans are developed for the entire organizational unit and individuals for a
certain period of time.

Its activities include:

• analyzing current situations;
• anticipating the future;
• determining the organizational objectives;
• deciding the activities to be involved;
• choosing strategies, and
• determining resources to achieve organizational goals.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Definition:
A management function that involves determining what tasks are to be done,
who is to do them, how the tasks are to be grouped, who report to whom,
and where decisions are to be made.

The specific roles of a manager include:

• specifying job responsibilities;
• grouping jobs into work units, and
• allocating resources.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Leading is influencing people’s behavior through motivation,

communication, group dynamics, leadership and discipline.
• The purpose of leading is to channel the behavior of all personnel to
accomplish the organization’s mission and objectives.
• It involves the manager’s efforts to stimulate high performance through
directing, motivating and communicating with employees.
• Managers who want to lead effectively need to discover what motivates
their employees and inspires them.
• As leaders, managers increase productivity by:
 • directing the workforce;
 • motivating their subordinates, and
 • communicating with employees.

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• Controlling is a four-step process of establishing performance standards

based on the firm’s objectives, measuring and reporting actual
performance, comparing the two, and taking corrective or preventive
action as necessary.
• The controlling function involves monitoring the firm’s performance to
make sure goals are being met.
• An effective manager will share this information with his or her
employees. Controlling activities include:
 setting performance standards that indicate progress towards long-
term goals;
 monitoring staff performance through performance data evaluation,
and
 identifying performance problems by comparing performance data
against standards and taking corrective actions.

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Top-level managers (Strategic managers)

• Senior executives are responsible for the overall management and effectiveness of
the organization.
• They also focus on long-term issues and emphasize on the survival and growth of
the organization.
• They are concerned with the interactions between the organization and its external
environment.
• Top-level managers include the Chief Executive Officer (CEO), Chief Operating
Officer (COO); President, Vice-President, and members of the top executive
committee.

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Middle-level managers (Tactical managers)

• Middle-level managers are managers who are located in the middle of the
organizational hierarchy, and at work, they report to top-level managers.
• They are the link between top-level managers and frontline managers.
• They are responsible for translating the general goals and plans developed by
strategic managers into more specific objectives and activities.

Frontline managers (Operational managers)

• They are the lower level managers who supervise the operational activities of the
organization.
• They are the link between management and non-management personnel.
• They implement the specific plans developed with middle managers and serve as
the link between management and non-management personnel.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

In order to be a good manager, there are certain skills that are crucial to be acquired
by the managers. Those skills involve both hard skills and soft skills.
Technical skills
Technical skill is the ability to perform a specialized task involving a particular method
or process. The tasks can be in the areas of engineering, business, computer, etc.

Conceptual and decision skills

Conceptual and decision skills are about a manager’s ability:
• To recognize complex and dynamic issues;
• To examine the numerous and conflicting factors that influence these issues and
problems;
• To resolve the problems for the benefit of the organization and its members;
• To demonstrate skills in creating clarity out of confusion, ambiguity, and
uncertainty;
• To be able to define skilfully and gain agreement on who has what responsibility
and authority, and
• To manage in a way that builds motivation and commitment to cross-departmental
and corporate goals.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Interpersonal and communication skills

• Interpersonal and communication skills are “people skills”. They are about the
ability to lead, motivate and communicate effectively with others.
• Managers who have excellent interpersonal and communication skills show the
following traits:
 Ability to create, through management, a climate and spirit conducive to high performance.
 Ability to understand the relationships among tasks and between the leader and followers.
 Ability to lead in those situations where it is appropriate.
 Skilled at helping, coaching, and managing conflict.
 Creatively handle conflicts, generate consensus decisions, and share power and information.
 Recognize that high-quality decisions require a rapid flow of information in all directions.
 Accept that knowledge, competence, logic, and evidence need to prevail over official status or
formal rank in an organization.
 Encourage innovation and calculated risk rather than punishing or criticizing whatever is less
than perfect.
 Expect and encourage others to find and correct their own errors and to solve their own
problems.
 Make heroes out of other team members and contributors.
 Generate trust among colleagues and subordinates.
 Perceived as honest, direct, open and spontaneous.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Marketing – product management, pricing strategy, promotion and advertising

strategy, distribution management.
• Operations/production – manufacturing management, inventory control, cost
analysis and control, quality control, production planning.
• Finance – managing cash flow, credit and collection management, public and
private offerings.
• Entrepreneurial management – problem solving, communications, planning and
negotiating, decision-making
• Law and taxes – company law, contract law, Malaysian tax law
• Information technology – information and management systems tools, business
to business, business to consumer, business to government, all via the Internet,
sales, marketing, manufacturing, and merchandising tools, financial, accounting,
and risk analysis and management tools, telecommunications and wireless
solutions for corporate information, data, and process management.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Business in Malaysia can be registered under any one of the following Acts:
1) Business registration Act 1956 (Amendment 1978) and Procedures Of Business
Registration 1957. Two types of businesses that can be formed under this Act:
sole proprietorship and partnership
2) Company Act 1965. There are three types of companies that can be formed under
this Act: private limited, public limited and unlimited. There are companies that are
limited by shares.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• A sole proprietorship is formed under the Business Act 1956 (Amendment 1978).
• This form of business structure is solely owned by one person, where the
management rests on that person whose liability is unlimited.
• A sole proprietorship is by far the simplest business structure.
• A sole proprietorship may have any number of employees or may grow to any level
in the sales revenue.
• The name of the owner or any other name may be used for the name of the
business.
• Normally, a sole proprietorship business requires a small amount of capital to start
with, compared with other forms of business entities.
• Examples of sole proprietorship businesses are tailor shops, beauty saloons,
restaurants, launderettes and mini markets.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Advantages Disadvantages

• Easy to manage because the owner or proprietor • Limited source of capital that could limit the
can make decisions by himself. business activities.
• The owner enjoys a certain degree of flexibility • The liability of business is unlimited. If the business
since as a sole owner he can react quickly and incurs debts for which the business assets are not
positively regarding necessary changes in business. sufficient to cover, the owner must be prepared to
• Easy to form and dissolve with minimum settle the debt with his personal assets.
formalities. • The future development of the business is limited
• As nobody shares the rewards of the business, all and depends on the management capability of the
profits will go to the owner. owner and the condition of his health.
• Not subjected much in government rules and • The owner is solely responsible for carrying out all
regulations. For instance, the yearly financial the tasks, therefore, a lot of time and effort need to
statement that needs to be submitted to the Inland be spent in managing the business.
Revenue Board does not require any form of • The lifespan of the business depends upon the age
validation by a qualified auditor. of the owner and how efficiently he manages the
• The owner pays income tax based on his total business. In addition, the business will be dissolved
individual income. if the owner passes away. If someone wishes to
continue the business, it will have to be re-
registered.

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• A partnership is a legal business entity with two or more partners.

• A partnership business is also incorporated under the Business registration Act
1956 (Amendment 1978).
• A partnership is carried out by more than one person but not exceeding 20
persons.
• Professional businesses, such as legal firms, architectural and accounting firms,
the members could amount up to 50 persons
• In a partnership, partners agree to undertake a joint business and jointly own the
business.
• In this form of business entity, partners carry out the business, share the capital,
profits and losses.
• Every partner is considered the company’s representative and acts on behalf of the
company.

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Advantages Disadvantages

Easy to set up with few formalities. Business liabilities are unlimited, which may involve
• Easier to secure financial assistance from financial personal assets of all partners of the company.
institutions compared with a sole proprietorship. • The lifespan of the partnership business depends on the
• Equity can be increased through enlisting additional life spans of the partners. If any of the partners passes
partners. away or is declared bankrupt, the business is
• Business risks can be reduced and distributed among automatically dissolved, unless there is an agreement
partners. In cases of losses, each partner will share the otherwise.
burden. • If no Letter or Agreement is made, unethical behavior or
• The responsibilities of managing and handling the misconduct may happen.
business can be divided equally among partners. • Risks of personal clashes among partners.
• A lot of ideas, talents, and skills can be pooled for better
management.
• As in a sole proprietorship business, income tax is not
imposed on the partnership itself but on the owners as
individuals.

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 4– 121
Company: Private Limited
Company
•A private limited company is a legal entity and its identity is separated from the identity of the
company’s members (Companies Act 1965).
• Private limited companies cannot sell shares to the public, and are distinguished by the title
“Sendirian Berhad”, shortened to “Sdn Bhd” or “S/B”.
• The minimum members in a private limited company is two (2) and the maximum is fifty (50).
• The characteristics of a Private Limited Company are as follows:
 Right and responsibility
 A company has a specific right and responsibility. It can acquire assets under its own
name.
 A company can also take a legal action and face legal action under its own name.
 Lifespan
 The lifespan of a company is not dependent upon the death or resignation of its members.
 A company can be dissolved when its members are no longer interested in continuing the
business.
 Liabilities
 The liabilities of the members in a company are limited to the local shares contributed to
the company’s capital.
 Personal assets are not affected regardless of what happens to the company.
 Memberships
 The two members of the company can act as a director and founder of the company.
 The members of the company will appoint The Board of Directors who will manage and run
the business operation subject to the Companies Acts 1965. All Rights Reserved
TECHNOPRENEURSHIP Second Edition
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 4– 122
Company: Private Limited
Company

Advantages Disadvantages

Funds are easy to acquire through the exchange of share A Private Limited Company is subject to more rules and
ownership or loan from a financial institution. regulations compared to other types of companies. A
• All shareholders are legally protected by law. company must always abide by the rules and fulfills the
• Shareholders are not burdened with the management terms set by the Companies Commission of Malaysia.
of the business because the responsibility to manage • The company’s shares cannot be transacted through the
and run the business is held by the Board of Directors, share market.
who is appointed by the company’s shareholders. • The company must pay corporate tax.
• The liabilities of the company’s members are limited to • The qualified Auditors must audit the company’s yearly
capital that they contribute to the company. financial statement and the statement must be
Shareholders’ personal assets are not affected. complete and regularly updated.
• The life span of the business is not dependent upon the • The financial affairs of the company must be made
age or resignation of its members. transparent to the general public.
• It has greater potential for expansion. • The cost of setting up the company is high. The cost
• Legally, the company is one business entity by itself. includes the payment charged according to the
authorized capital, professional fees, filing charges, the
printing of the company’s Memorandum of Association
and Articles of Association, shares certificates and
company’s seal.

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• Public limited companies can only offer shares to the public if a prospectus which
complies with the requirements of the Companies Act 1965 has been registered with
the Registrar of Companies.
• The proposal for the issue or offer of shares to the public has to be submitted to the
Securities Commission for approval.
• Public limited companies are distinguished by the title “Berhad”, shortened to “Bhd”.
• Public limited company must have a minimum of two members and there is no
maximum member limit.
• It can be either an unlisted or a listed company on the stock exchanges.
• However, certain public limited companies (mostly nationalised concerns)
incorporated under special legislation are exempted from bearing any of the
identifying suffixes.

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• Unlimited companies are no different from the sole proprietorship and partnership
business entities.
• The only differences are that they have a special article of association and are free
to return the capital to their members.
• Members (also called “Shareholders”) are not liable for the company’s debts beyond
the amount of share capital they have subscribed.
• However, the public will have access to financial affairs of the company.
• In the event of death or changes among shareholders and/or directors of the
company, it need not be winded up.
• Every limited company has to appoint:
(1) Auditors to verify and report financial affairs, records, accounts and statements;
and
(2) Must have at least a company secretary for the Annual General Meeting
(AGM), board and shareholders’ meetings.

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 4– 125
The Differences Between Type
of Business
Business firm Company limited by shares
1 Legal standing • Not separated from individual/ individuals who own the business • Legally separated from owners and individuals who run business

2 Liability • Not limited • Limited to the remaining unpaid amount of the members’ shares

3 Succession • Once the identity of individual participants changes (e.g. partners • There is perpetual succession
die, resign or new partners or sole proprietor dies or becomes
• Company continues to exist unless it is liquidated or deregistered
bankrupt) the sole proprietor is dissolved or the partnership is
dissolved • Can transfer interest to other parties by executing share transfer
forms

4 Formation • Register with Registrar of Business • Incorporated under the Companies Act 1965
• Some partnerships may have partnership agreements • Lodge statutory forms and memorandum of association and
articles of association with the Companies Commission of Malaysia
(“CCM”) otherwise known as Suruhanjaya Malaysia

5 Owner • 1 for sole proprietor • 2 to 50 max (no limit for PLCs)

• 2 to 20 max for partnership
6 Ownership of • Jointly owned by the individual/ individuals who own business • Owned by the company, not the shareholders
properties
7 Management • Managed by individual/ individuals who own a business. • Managed by the Board of Directors. Every company must have at
least 2 directors who are principally residing in Malaysia. Directors
• All partners are entitled to participate in the management of the
may or may not be the shareholders of the company.
partnership
• There must be at least 1 company secretary.

8 Annual returns • Not required to submit any report to the Registrar of Business • Lodge with Companies Commission of Malaysia’s returns
• Lodge annually with the Annual Return and audited accounts

9 Taxation • Profits made are added to the individual’s/ individuals’ personal • Company is subject to income tax at the rate applicable.
income and are individually liable for the profit under personal
income tax.

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• Companies wishing to operate in Malaysia must register with the Companies

Commission of Malaysia (Companies Division).
• Under the regulations of the Companies Commission of Malaysia, there are
different procedures established for local companies and foreign companies.
• The company must submit copies of documents like the Memorandum and Articles
of Association, Statutory Declaration of Compliance and Statutory Declaration, plus
relevant fees.
• The Registrar of Companies will bestow a certificate of incorporation once
registration procedures are completed and approved.
• Companies must file the registration of its members, directors, managers,
secretaries and interest holders with the Commission at all times.
• Foreign companies must incorporate a local company or register a branch in
Malaysia in order to conduct a business in this country.
• The Registrar of Companies will bestow upon the applying company the status of a
foreign company operating in Malaysia once all procedures are completed
and approved.

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Ts. MAHATHIR BIN MUHAMAD

FACULTY OF ENTREPRENEURSHIP AND BUSINE
SS, UMK
LEARNING OUTCOMES
• Outline the role of SMEs in the Malaysian economy
• Discuss the definition and importance of SMEs in economy
• Describe the characteristics of small businesses
• Identify the levels of management and the general management
functions
INTRODUCTION
• To start technology business you MUST have potential in ambitious,
talented and experience people

• Create the technology product without using a lot of money

• Garage Entrepreneur – Is it relevant?

• Many Entrepreneur – Start-Up with Small Scale

SMALL MEDIUM
ENTERPRISE
( SME
)
SME DECRIPTION (VIDEO)
MANAGEMENT FUNCTIONS

MANAGEMENT IS PROCESS OF
WORKING WITH PEOPLE AND
RESOURCES TO ACCOMPLISH
ORGANIZATIONAL GOAL
#1 MANAGEMENT FUNCTIONS :
PLANNING
• Process of developing the business’ mission and
objective
• Determining how they will be accomplished
• Manager should determine the GOALS
• Archive the GOALS
PLANNING ACTIVITY
Analyzin Determine
Anticipatin
g current Organization
g the
situations Objective
future

Decide the Choose the Determine

activities strategies the resources
#2 MANAGEMENT FUNCTIONS :
ORGANIZING
• Organizing is establishing the internal
organizational structure of the organization
• Focus on : DIVISION ; COORDINATION ;
CONTROL TASK AND INFORMATION
• Include the delegate the TASK to the STAFF
• MANAGER responsible organize people and resources
SPECIFIC ROLE OF MANAGER
Specifying job responsibilities

Grouping jobs into work units

Allocating resources
#3 MANAGEMENT FUNCTIONS :
LEADING
• Leading is influencing people’s behavior through
motivation, communication. group dynamics. leadership
and discipline.
• Mission of leading to accomplish organization MISSION
• Managing NOT SAME with Leading activity
• Leader become MOTIVATOR
HOW MANAGER INCREASE
PRODUCTIVITY

Directing the Motivating Communicatin

workforce their g with
subordinates employees
#4 MANAGEMENT FUNCTIONS :
CONTROLLING
Four step process of establishing performance standards:
1) FIRM’S OBJECTIVE
2) MEASURING AND REPORTING
ACTUAL PERFORMANCE
3) COMPARING THE TWO
4) TAKING CORRECTIVE OR PREVETIVE ACTION
MANAGEMENT
LEVELS
Top-level
Managers
(Strategic
Managers
)
Middle-level
Managers (Tactical
Managers)

Frontline Manager
(Operational Managers)
MANAGEMENT
SKILLS
Interpersonal and
Conceptual and Communication
Technical Skills
Decision Skills Skills

Operations/
Marketing Finance
production

Entrepreneurial Information
Law and taxes
Management Technology
(IT)
SUMMARY
• Small Business important establishment that contribute to the
Malaysia ECONOMY
• Entrepreneur need to understand the different classification of
SMEs
• Able to understand the management function (Planning ;
Organizing; Leading and; Controlling)
• There are threes (3) - (Top-Level ; Middle-Level;
Frontline-Level)
CHAPTER
4 5
Business Models for
Technology Venture
Learning Outcomes

At the end of the topic, students should be able to:

1. Outline the definition of the business model.

2. Discuss the business model framework.
3. Describe the characteristics of various business models for technology venture.
4. Identify the business model strategy.
5. Discuss the concept of business model innovation.

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• The concept of the business model has become popular with the new types of
businesses, often created using the Internet, and which have been in need of new
business models.

• When designing a new business, the model it uses is likely to be a crucial factor in
its success.

• To extract value from an innovation, any firm needs an appropriate business

model.

• Business models convert new technology to economic value.

• Some familiar business models cannot be applied, so a new model must be

devised.

• Not only is the business model important, in some cases the innovation is in the
business model itself (Business Model Innovation).

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Given the complexities of products, markets, and the environment in which

the firm operates, very few individuals, if any, fully understand the
organization’s tasks in their entirety.

• The technical experts only know their domain and the business experts
would only be expected to know theirs.

• A business model draws on a multitude of business subjects, including

economics, entrepreneurship, finance, marketing, operations, and
strategy.

• The business model itself is an important determinant of the profits to be

made from an innovation.

• A mediocre innovation with a great business model may be more

profitable than a great innovation with a mediocre business model.

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• A business explicitly or implicitly employs a particular business model that

describes the architecture of the value creation, delivery, and capture mechanisms
employed by the business enterprise.
• The essence of a business model is that it defines the manner in which the
business enterprise delivers value to customers, entices customers to pay for
value, and converts those payments to amazing profits.
• It reflects the management’s hypothesis about what customers want, how they
want it, and how an enterprise can self-organize to best meet those needs, get
paid for doing so, and make a profit.
• The term business model is used to represent the core aspects of a business,
including purpose, offerings, strategies, infrastructure, organizational structures,
trading practices, and operational processes and policies.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

•Some of the definitions that are applicable for a business model are:

 The plan implemented by a company to generate revenue and make a

profit from operations. The model includes the components and
functions of the business, as well as the revenues it generates and the
expenses it incurs.

 A business model describes the rationale of how an organization

creates, delivers, and captures value (economic, social, or other forms
of value). The process of business model construction is part of
business strategy.

 Business models are used to describe and classify businesses,

especially in an entrepreneurial setting. Company managers use
business model to explore the possibilities for future development of
their companies. Well-known business models operate as recipes for
creative managers.

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 5– 153
Business Model vs Business
Plan
• A business plan is a detailed document, typically 50 to 100 pages, with a lot of
financial projections.
• To set up a new business and apply for a loan, the lending institution will demand a
business plan.
• The lender wants all the details to assess whether or not the business is viable and
subsequently able to repay the loan.

• A business model describes the specific way the business expects to make money.
• A business model is a proprietary methodology used to acquire service and retain
customers.
• Being on paper, an ideal business model should be outlined on one page, and it
would be more clearly shown as a diagram than as words.
• Business model is the single-most important factor in the business success.
• If the business model is not working well, then the business is not going to be
working very well.
• Most entrepreneurs spend too much time on everything but the business model.
• model. In many cases, the existing business is the problem.
• All the planning in the world cannot fix a flawed model.

TECHNOPRENEURSHIP Second Edition All Rights Reserved

The following are the six components of the business model used to make up the
basic framework describing the elements of a business model:
1) Value proposition – a description of the customer’s problem, the product that
addresses the problem, and the value of the product from the customer’s
perspective.
2) Market segment – the group of customers to target on, recognizing that different
market segments have different needs. Sometimes, the potential of an innovation
is unlocked only when a different market segment is targeted.
3) Value chain structure – the firm’s position and activities in the value chain and how
the firm will capture part of the value that it creates in the chain.
4) Revenue generation and margins – how revenue is generated (sales, leasing,
subscription, support, etc.), the cost structure, and targeted profit margins.
5) Position in value network – identification of competitors, complementors, and any
network effects that can be utilized to deliver more values to the customer.
6) Competitive strategy – how the company will attempt to develop a sustainable
competitive advantage, for example, by means of a cost, differentiation, or niche
strategy.

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• The Business Model Canvas is a single reference model based on the

similarities of a wide range of business model conceptualizations.
• It is a strategic management template for developing new or documenting
existing business models.
• It assists firms in aligning their activities by illustrating potential trade-offs.
• It describes the elements of business models.
• The business model canvas defines a business model as how an organization
creates, delivers, and captures value.
• One of the simplified business models is by simplifying the business modeling
into a 9-step process, known as the Business Model Canvas.
• It instantly creates a shared visual language while defining a business.

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 5– 157
Business Model Canvas
Key Partners
• Who are our key partners?
• Who are our key suppliers?
• Which key resources are we acquiring from partners?
• Which key activities do partners perform in?

Motivations for partnerships:

• Optimization and economy
• Reduction of risk and uncertainty
• Acquisition of particular resources and activities
Key Activities
• What key activities do our value propositions require?
• Our distribution channels?
• Customer relationships?
• Revenue streams?

Categories
• Production • Customer relationships?
• Problem solving • Revenue streams?
• Platform/network

Types of resources
• Physical
• Intellectual (brand patents, copyrights, data)
• Human
• Financial

Key Resources
• What key resources do our value propositions require?
• Our distribution channels?

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 5– 158
Business Model Canvas
Key Partners
• Who are our key partners?
• Who are our key suppliers?
• Which key resources are we acquiring from partners?
• Which key activities do partners perform in?

Motivations for partnerships:

Categories
• Production • Customer relationships?
• Problem solving • Revenue streams?
• Platform/network

Types of resources
• Physical
• Intellectual (brand patents, copyrights, data)
• Human
• Financial

Key Resources
• What key resources do our value propositions require?
• Our distribution channels?

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Channels Customer Segments

• Through which channels do our customer • For whom are we creating value?
segments want to be reached? • Who are our most important customers?
• How are we reaching them now?
• How are our channels integrated? • Mass market
• Niche market
• Segmented
• Diversified
• Multi-sided platform

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Cost Structure Revenue Streams

• What are the most important costs inherent in our business• For what value are our customers really willing to pay?
model? • For what do they currently pay?
• Which key resources are the most expensive? • How are they currently paying?
• Which key activities are the most expensive? • How would they prefer to pay?
• How much does each revenue stream contribute to overall revenues?
Is your business more: Types Fixed pricing: Dynamic pricing:
• Cost driven (the leanest cost structure, low price value • Asset sale • List price • Negotiation
proposition, maximum automation, extensive outsourcing) • Usage fee • Product feature (bargaining)
• Value driven ( focused on value creation, premium value • Subscription fees dependent • Yield management
proposition) • Lending/renting/leasing • Customer segment • Real-time market
• Licensing dependent
Sample characteristics: • Brokerage fees • Volume dependent
• Fixed costs (salaries, rents, utilities) • Advertising
• Variable costs
• Economies of scale
• Economies of scope

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 5– 161
Aligning Business Model and
Business Strategy
• The process of a business model design is part of business strategy.
• The implementation of a company’s business model into organisational
structures and systems is part of a company’s business operations.
• The brand is a consequence of and has a symbiotic relationship with the
business model since the business model determines the brand’s motto and
the brand equity becomes a feature of the model.
• The business model’s contrasting concept is compared to strategy,
identifying the following three differences:
1) Creating value vs. capturing value – the business model’s focus is on value
creation. While the business model also addresses how that value will be
captured by the firm, a strategy goes further by focusing on building a
sustainable competitive advantage.
2) Business value vs. shareholder value – the business model is the
architecture for converting innovation to economic value for the business.
However, the business model does not focus on delivering that business
value to the shareholder.
3) Assumed knowledge levels – the business model assumes a limited
environmental knowledge, whereas strategy depends on a more complex
analysis that requires more certainty in the knowledge of the environment
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Type of Business Model

• In the early history of business models, it is very typical to define business

model types such as bricks-and-mortar or e-broker.

• However, these types usually describe only one aspect of the business (most
often the revenue model).

• Therefore, more recent literature on business models concentrates on

describing the business model as a whole instead of looking at only one
most visible aspect.

• The following examples provide an overview for various business model

types that have been in discussion since the term ‘business model’ was first
introduced.

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• This is a business model by which a company integrates both offline (bricks)

and online (clicks) services.
• One example of the bricks-and-clicks model is when a chain of stores allows
the users to order products online, but lets them pick up their orders at a
local store. .
• The bricks and clicks strategy has typically been used by traditional retailers
who have extensive logistical and supply chains.
• It is easier for a traditional retailer to establish an online presence than it is
for a start-up company to employ a successful pure dot.com strategy.
• Advantages:
• Leveraging their core competency.
• Leveraging existing supplier networks.
• Leveraging existing distribution channels.
• Leveraging brand equity.
• Leveraging stability.
• Leveraging existing customer base.
• Leveraging a lower cost of capital.
• Leveraging learning curve advantages.

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• Direct selling is marketing and selling products to consumers directly,

away from a fixed retail location.

• Sales are typically made through party plan, one-to-one

demonstrations, and other personal contact arrangements.

• One definition of direct selling is the direct personal presentation,

demonstration, and sales of products and services to consumers,
usually in their homes or at their workplaces.

• Direct selling is distinct from direct marketing because it is about

individual sales agents reaching and dealing directly with clients.

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• Franchising is the practice of using another firm’s successful business model.

• A franchise model leverages a customer’s desire for the familiar to create
loyalties across towns, and even across countries.
• For the franchisor, the franchise is an alternative to building ‘chain stores’ to
distribute goods and avoid investment and liability over a chain.
• The franchisor’s success is the success of the franchisees.
• The franchisee is said to have a greater incentive than a direct employee
because the franchisee has a direct stake in the business.
• Franchising is not merely a win-win for the franchisee and the franchisor,
because such strength in the market place allows for a larger organization,
which benefits the economies of scale and that means lower prices for
consumers and customers.
• Those who partake in the products and services of the franchised outlets are
also likely to have peace of mind, knowing that they will receive quality, great
service and consistency.

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• The word ‘freemium’ is made up from the words ‘free’ and ‘premium’.
• The freemium business model works by offering basic downloadable digital
product for free, while charging a premium for advanced or special features.
• The free product or service include digital offerings such as software, content,
games, web services, etc. while a premium is charged for advanced features,
functionality, or related products and services.
• Adopting this new business model is a way of adapting to the changing market and
the conditions of the production.
• There are basically two reasons for choosing a freemium business model:
1) Marketing. By definition, having a free product makes it really easy to get customers.
And Internet economics make this very attractive, because the marginal cost of every
new free user will be very low. Free users can also be good marketing tools because
even though a free user might not convert, he or she can invite other free users who
might.
2) Network effects. A network effect is what happens when a product or service becomes
more valuable when more people use it. If the technopreneur is in a market that lends
itself to network effects, a free basic product is necessary to ensure business venture
survival.

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• It is a lot more expensive to get new customers than to keep the existing ones.
• Business models that create brand loyalty help keep the customers.
• The loyalty business model is a business model used in a strategic
management in which company resources are employed to increase the loyalty
of customers and other stakeholders in the expectation that corporate objectives
will be met or surpassed.
• A typical example of this type of model is that the higher quality of the product or
service leads to customer satisfaction, which leads to customer loyalty, and
further leads to profitability.
• This model looks at the strength of the business relationship; it proposes that
this strength is determined by the level of satisfaction with recent experiences,
overall perceptions of quality, customer commitment to the relationship, and
bonds between the parties.

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• The online auction business model (internet auction, electronic auction, e-auction)
is one in which participants bid for products and services over the Internet.
• The functionality of buying and selling in an auction format is made possible
through auction software which regulates the various processes involved.
• Strengths of the online auction business model are given below:
 No time constraint – Bids can be placed at any time. This convenience increases the
number of bidders.
 No geographical constraint – Seller and bidders can participate from anywhere that has
Internet access. This makes them more accessible and reduces the cost of attending an
auction.
 Intensity of social interactions – The social interactions involved in the bidding process
are very similar to gambling. The bidders wait in anticipation hoping they will win.
 Large number of bidders – A large number of bidders is available due to the potential for
a relatively low price, the broad scope of products and services available, the ease of
access, and the social benefits of the auction process.
 Large number of sellers – Because of the large number of bidders, there is the potential
for a relatively high price, reduced selling costs, and ease of access.
 Network economies – The large number of bidders will encourage more sellers which in
turn will encourage more bidders, which will encourage more sellers, etc., in a virtuous
spiral.

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• Professional open-source is an open source software business model where an

open source software vendor generates revenue from paid professional services,
maintenance and support provided with the software.
• Some open source software vendors also provide commercial licenses of open
source software or customer-specific versions of open source software to
customers.
• There was a growing stigma that such a package could not be trusted as stable or
supported. As a consequence, larger businesses would often choose commercially
distributed software over a product that was released under an open-source
license.
• The business model of these companies tries to offer open-source software with a
free license, while using professional services, maintenance and support for these
products to derive revenue.

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• Service sector is one of the important economic development recently in

industrialized economies.
• The service economy in developing countries is mostly concentrated in financial
services, health, and education.
• Products today have a higher service component than in previous decades.
• In the management literature, this is referred as the servitization of products.
• Many manufacturing companies treat its business as a service business.
• These companies see the physical goods as a small part of the “business
solutions” industry.
• They have found that the price elasticity of demand for “business solutions” is
much less than that for hardware.

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• The subscription business model is a business model that has long been used by
magazines and record clubs.

• Rather than selling products directly, more and more companies are selling
monthly or yearly access to a product or service.

• This converts a one-time sale of a product into a recurring sale of a service and
can lead to the building of brand loyalty.

• Many other industries are using the subscription model such as phone companies,
newspapers, cable providers, cell phone companies, Internet providers, pay-TV
channels, software providers, business solutions providers and financial services
firms.

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Subscription Business Model
Impact on the vendor
• Businesses are beneficial because they are assured a constant revenue stream. This
greatly reduces uncertainty and the risks of the enterprise
• In many cases, the subscription-pricing structure is designed so that the revenue
stream from the recurring subscription is considerably greater than the revenue from
simple one-time purchases.
• In some subscription schemes (like magazines), it also increases sales, by not giving
subscribers the option to accept or reject any specific issue.
• Reduces customer acquisition costs, and allows personalized marketing or database
marketing.

Impact on the customer

• Consumers can also benefit by purchasing the product regularly, suggesting that they
will benefit from the convenience.
• It is also useful for those people that are looking for structure and constancy in their
otherwise hectic lives.
• There are also many people that use regular subscriptions to fulfill a need to be
affiliated with a business/cause.
• Subscription pricing can make blunt the sting of paying for expensive items. By
spreading the cost over certain period, the purchase seems more affordable.

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• In the past decade, globalization has become an overwhelming trend that is affecting
almost every facet of the economy.
• Coupled with new emerging market forces, which intensify the competition and
economic growth, players in all industries are looking for ways to exploit the
advantages of globalizing operations and expansion to world markets.
• Globalisation brings the pressure of falling margins and intense competition.
• Shared Services and Outsourcing (SSO) is embraced dramatically as one of the
solutions to transform organizations’ costs and revenue structures.
• SSO is now viewed as a strategic tool for top companies to compete globally.

• The primary driving factor for the SSO adoption is cost-benefits.

• SSO is also as a catalyst for unprecedented business transformation.
• Companies need to integrate the front, middle and back-end operations virtually and
seamlessly (vertical integration effectiveness across the business value chain).
• The most popular business process for the SSO is IT Services & Support, followed
by Back-office Processing, Human Resource and Customer Service and Call Center.

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Brief descriptions of each driver of SSO are summarized below:

1) Improving asset utilization – is another way of improving operating excellence for
an organization. With SSO, business functions can be centralized and shared
across multiple regions, thus optimizing available resources.
2) Reducing operating cost –cost saving has always been the key factor for the
decision to outsource or adopt shared services.
3) Improve competitiveness – SSO is now becoming one of the prerequisites to stay
competitive. Reducing costs and focusing on the core business are some of the
ways to sharpen companies’ competitive edge.
4) Focus on core competencies - To keep up with the competition, companies must
rely strongly on their core products or services with intensive focus on research
and development (R&D) to produce innovative products or solutions. Firms are
increasingly looking into the SSO as a solution to gain competitive advantage.
5) Improve on employee productivity – Engaging in SSO can eliminate overlapped
business processes or functionalities.
6) Improve customer service –. With SSO, businesses can leverage on the expertise
of established service providers to continuously improve their customer services.

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• Business Model Innovation (BMI) refers to the

creation or reinvention, of a business itself.
• A business model innovation results in an entirely
different type of company that competes not only on
the value proposition of its offerings, but aligns its
profit formula, resources and processes to enhance
that value proposition, capture new market
segments and alienate competitors.

The role of the BMI is defined by stating that:

1) a simplifying technology is needed to spark the
disruption,
2) a new business model is needed to maximize the
reach of the technology,
3) a comprehensive value network must finally evolve
to support it.

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Five strategic circumstances companies commonly face that often require business
model change are:

1) The opportunity to address the needs of large groups of potential customers who
are shut out of a market entirely because existing solutions are too expensive or
complicated for them. This includes the opportunity to democratize products in
emerging markets (or reach the bottom of the pyramid).
2) The opportunity to leverage a brand-new technology, wrapping the right business
model around it or the opportunity to leverage a tested technology in a whole new
market.
3) The opportunity to bring a job-to-be-done focus to a marketing-driven industry.
Such industries tend to make offerings into commodities. But a job’s focus allows
companies to redefine the industry’s profit formula.
4) The need to fend off low-end disruptors.
5) The need to respond to a shifting basis of competition. Inevitably, what defines an
acceptable solution in a market will change over time, leading core market
segments to commoditize.

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• The Business Model Innovation is an important tool to capture, design, innovate

and transform the business.
• In order to transform an organization and align it as a business model, the
business model innovation should be in connection with:
 The main business goals of the organization, e.g. strategic business
objectives, critical success factors and key performance indicators, which a
holistic business model approach should include.
 The main business issues/pain points and thereby organizational
weaknesses, which a holistic business model approach should include for
they represent the threat to the company’s business model.
 Some clear cause and effect linkages between the competencies, desired
outcomes and performance measurements e.g scorecards.
 An emphasis on the business model management and thereby a continuous
improvement and governance approach to the business model.

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MODULE 5: BUSINESS
MODELS FOR
TECHNOLOGY VENTURE
FACULTY OF ENTREPRENEURSHIP AND BUSINESS,
UMK
ROLE OF BUSINESS MODEL
 BUSINESS MODEL USED FOR A BROAD RANGE
OF INFORMAL AND FORMAL DESCRIPTION TO
REPRESENT THE CORE ASPECTS OF A BUSINESS
 INCLUDING PURPOSE, OFFERINGS,
STRATEGIES, INFRASTRUCTURE,
ORGANIZATIONAL STRUCTURES, TRADING
PRACTICES AND OPERATIONAL PROCESSES
AND POLICIES

BUSINESS MODEL
DEFINITION
BUSINESS MODEL VS BUSINESS PLAN

BUSINESS MODEL BUSINESS PLAN

 A SINGLE DIAGRAM OF YOUR  DOCUMENT INVESTORS MAKE YOU
BUSINESS WRITE IN DETAILED DOCUMENT
COMPONENTS OF BUSINESS MODEL

REVENUE
VALUE VALUE CHAIN
GENERATION
PROPOSITION STRUCTURE
AND MARGINS

POSITION IN
MARKET COMPETITIVE
VALUE
SEGMENT STRATEGY
NETWORK
BUSINESS MODEL CANVAS
UBER BUSINESS MODEL
TYPE OF BUSINESS MODEL
Bricks and
Direct
Clicks

Franchise Freemium
Online Professional
Loyalty
Auction Open-Source

SUBSRIPTIO
Servitization
N BUSINESS
of Products
MODEL
SUMMARY

 Having a business model is crucial to the success

of a business
 After select business model , next step is to
develop the business plan whereby all aspects of
business laid down in the document for various
purposes
CHAPTER
1 6
Technology Venture
Business Plan
Learning Outcomes

At the end of this chapter, you should be able to:

1. Explain the concept of a business plan and

demonstrate its value
2. Discuss the importance of a business plan
3. Define the parties who need a business plan
4. Develop and present a complete outline of an
effective business plan

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What is a Business Plan?

 Business Plan is a roadmap, a guide to achieve goals and how to achieve

it.
 It is simple and formal document that describes a plan on how you
are going to drive your business and make it successful.
 Can be defined as a written document that serves as a blueprint and
guide for a proposed business project that entrepreneur or technopreneur
intends to undertake.
 Information gathered regarding the project is used in the business plan to
predict the business’ viability, forecast success and propose strategies for
the project.

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Entrepreneurs use a
business plan to :
 Develop the business mission and vision
 Analyse the performance of their business
 Identify wo are the main competitors, and
analyse their strength and weaknesses
 Increase their opportunity for success
 Identify the right way of managing the
business
 Recognize the barriers of the business and
 Increase their stakeholders’ confidence

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Components of a Business
Plan
Executive Summary
The executive summary is an independent element of the business
plan. It should contain a briefed overview which provide readers or
potential investors a brief but dynamic description of the most
important aspects of the business plan. In particular, it should
highlight the business description, product or service, the value to
the customer, the relevant markets, competition, operations,
risk/opportunities, management expertise, financial and capital
requirements, source of fund, used fund and possible return on
investment.

The reader should be able to read and comprehend the summary in

ten minutes. (The summary, between one or three pages length )

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Components of a Business
Plan
INTRODUCTION TO THE COMPANY
2.1 Company Background
2.1.1 Company’s Name :
2.1.2 Company’s Vision :
2.1.3 Company’s Mission :
2.1.4 Percentage of Bumiputra’s share : %
2.1.5 Date of Registration :
2.1.6 Date of Operation :
2.1.7 Company’s Registration Number :
2.1.8 Correspondence Address :
2.1.9 Telephone Number :
2.1.10 Type of Industry :
2.1.11 Contribution : RM
(* NB – non Bumiputra, B – Bumiputra)
Figure 1.1 Share holders information
No. Name & IC No. Position Contribution Shareholder status

RM % NB B

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Components of a Business
Plan
2.2 Business Project Background
2.2.1 Technical Aspect
2.2.1.1 Product / Service / Technology
(a) Product or services offered
(b) Market needs (demand)
(c) Degree of innovation and
(d) Feasibility and profitability
Essentially, the following are also worth including:
* core technologies
* current development or R & D status
* strategy for current or future products and
* intellectual property

2.2.1.2 Project Location

* Location
* Area and land status.
* Price comparison if your company wanted to
purchase the property. If rental give a copy of
tenancy agreement.(Appendix)

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Components of a Business
Plan
2.2.1.3 Factory Building
• Type of existing building (Bricks or wood – material used)
• Area and land status
• Development cost and cost comparison
(at least 3 comparison)(Appendix)
• Contractor or developer name and their experience.
• Gantt chart.
• If rental give a copy of tenancy agreement.(Appendix)
2.2.1.4 Proposed Machine/Vehicle/Equipment
Types of Quantity Capacity % of current Purchased Types of
machinery/ usage price (RM) financing
vehicles

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Components of a Business
Plan
2.2.1.5 Raw Material Requirement/Others Important Input

Type Quantity Price Total Name and

Required per unit (RM) location of
per year (RM) supplier

Total

Figure 2.3: Raw Material Requirement

Give justification cost per unit and resources of raw material

(import/domestic/recycle).
Overall raw material status and suppliers capability, price
fluctuation
and threat)
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Components of a Business
Plan
2.2.1.6 Production Process
Flow chart of the product and explanation at every process.

2.2.1.7 Quality Control And Pollution

Quality control procedure and environment certification
(if needed) and company suggestion on how to fulfill the
requirement from Ministry of Environment)

2.2.1.8 Technology transfer (if any)

Technology supplier, term and condition

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Components of a Business
Plan
2.2.1.9 Gantt Chart (Start from the date loan approved)

No Particular Week Week Week Week Week Week

1 2 3 4 5 6

1. Agreement Preparation

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Components of a Business
Plan
2.2.1.10 Maraketing Programmes (Marketing Aspect)
Type and development of industry, who is the main user, demand size or
market current status, projection for 5 years and the factor influence the
projection. Supply status (import and domestic) for the past 3 years and
current status.

This section should describe how the sales projections you are making in
your financials will be attained in terms of positioning, marketing activities
and promotional campaigns.
It should include:
* Your overall marketing strategies, incl. Events, materials and
primary tactics
* Your pricing strategy (this could also be covered in Revenue
Model segment)
* Your marketing and sales messages
* Your promotional strategy

This section is actually a representation of the overall content of your

more detailed company Marketing plan.
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Components of a Business
Plan
2.2.1.11 Company’s Target Market
Who is company’s target market and basic requirement of your target, list of current
and future costumer. Customer requirement per annum. Product distribution, prices,
credit terms and season market or all season. If by contract please give the contract
terms and condition. Government regulation if any. Marketing Strategies to increase
market or mind share)

2.2.1.12 Benefits & Customer Value

Your innovative product or services should have its benefits to the end customer.
It is important to indicate how your product differs from others that are now or will
be on the market.
Discuss the function of your product or services and the value in which the
customer will gain from it.
If comparable products, technology or services are already available from your
competitors you must convincingly substantiate the added value your customers
will receive. If you are offering a range of innovative products or services,
categorize them and describe how the integrated products will benefit consumers .

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Components of a Business
Plan
2.2.1.13 Market & Competitors Information Main Competitor
Name, Location, Brand, projection output per annum, market share (%).
Competitor background, operation date, capacity, pricing, performance and
their expansion planning.

Competitor’s Brand Output Market share Market Value

Name & Projection per (RM)
Address year

Total

Describe the market segment or target market you are in. Also, indicate
which main factors are now influencing or may influence the given industry
segment. Show what factors will affect developments (technology, legislative
initiatives, etc.) and what relevance these factors have for your business.

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Components of a Business
Plan
2.2.1.14 SWOT Analysis
Define the strengths and weaknesses of your competitors.
Evaluate your major potential competitors using the same criteria,
e.g. sales volume and revenues (pricing), growth, market share,
cost positioning, product lines, customer support, target groups,
and distribution channels.

Evaluate your own company according to these same criteria, and

make a comparison as to how sustainable your competitive
advantage will be.

Strength & Weaknesses or SWOT (if possible)

Broadly, list the competitors in your market segment, and briefly
describe the strength and weaknesses against your product or
services
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Components of a Business
Plan
Strength Weakness

Internal

Opportunities Threats

External

TECHNOPRENEURSHIP Second Edition All Rights Reserved

(a) Product – your current product or service appropriate or suitable for today’s
Market and customers? You product superior in any way to those or your
competitors?
(b) Price – Your prices ideal for your current market? Why?
(c ) Place – Where will your product or service be sold, displayed or stored?
(d) Promotion – How will your products be promoted? (advertisements,
Websites, new channels, etc.
(e) People – Who will offer your product or services to customer? Who will
carry out specific tasks or responsibilities?
(f) Process – How will your products or service reach customers? Do you have
An effective process to minimize costs?
(g) Physical evidence – How will customers know that your product or service
is in the marketplace? How will they recognize your presence and
establishment?
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Components of a Business
Plan
2.2.1.16 Growth Strategies to Compete The Competitor

Growth strategies. State what are the strategies that your

company plans to achieve in growing the company. (Quality,
packaging, pricing, distribution, promotion, credit terms,
services, design or branding)

Technology and Product Development Strategies

* To have flawless mobilization
* To rapidly deploy the system integration by
initially
* To understudy closely with the
* To invest consistently in potential experts.
* To develop smart partnership with
* To exploit the ready infrastructure
* To extend into developing
* To exploit the database for
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Components of a Business
Plan
2.3 Employment of Knowledge Workers

2.3.1 Company’s organization

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Components of a Business
Plan
2.3.2 Director’s name and background (Appendix 1)
Name
Age
Qualification,
Experience,
Share hold from other company, value and percentage of ownership.
Net asset value,
Specialization.

2.3.3 Main staff name and background if different than above. (Appendix 2)
Name
Age
Qualification
Experience
Share hold from other company, value and percentage of ownership.
Net asset value,
Specialization.

Number of permanent workers and contract workers.

2.3.4 Justification
Explain the credibility of the management team to run the business.
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Components of a Business
Plan
2.4 FINANCIAL PROJECTIONS
2.4.1 Financial Overview
This section represents the conservative, achievable and
management projections of revenue, cost, expenses and cash
flow.

These includes:
* P&L projections for 3 years (in RM)
* Cash flow projections for 3 years (in RM)
* Performa Balance Sheet for 3 years (in RM)
* Major capital requirements or expenditure
* Breakdown of sales (in detail)
* Breakdown of R&D expenditure in detail
* Last 3 Years Revenue and Profit after tax (should your
company already been in operation the last 3 years)

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Components of a Business
Plan
2.4.2 Financial Qs to consider
Key questions that can be observed:
* How will your revenues and expenses develop?
* What assumptions underlie your financial planning?
* What sources of capital are available to you to sustain
operations?
* How will you realize profits?
* What can an investor expect should they invest in your
company?

3.0 Conclusion or Appendices

State the strength and potential of the project.
* Project risk and solution to overcome the risk and
* Anything else that you wish to include

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CHAPTER
1 7
Marketing Strategy
For Technology
Ventures
Learning Outcomes

At the end of this chapter, you should be able to:

• Describe the environmental forces that influence the
marketing decision process
• Discuss the development of a marketing strategy,
including market segmentation, targeting, and positioning
• Discuss the dimensions of a marketing strategy,
including the role of product, price, distribution channels,
and promotion
• Explain the roles of e-marketing to a marketing strategy

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Figure 6.1 The Marketing Environment and the Marketing Mix

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Competitive and Economic Forces – general

economic situation (prosperity, inflation, recession,
depression, recovery, and shortages in supply or
decreases in demand), consumer purchasing power,
unemployment rates and competitive relationship.

• Political, Legal, and Regulatory Forces – political

actions of interest groups; regulatory bodies; regulatory
activities and law enforcement; laws and regulator’s
interpretation of laws. Specific laws, for instance, require
that all health claims statement be documented and
demand that advertisements be truthful.

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• Technological Forces – advanced technologies such

as computers can assist in developing a new-product,
and improve distribution activities as well as promotional
activities.

• Social Forces – the public’s attitudes and opinions

toward issues such as standards of living, the
environment, quality of life, ethics and lifestyles. For
example, public concerns have encouraged hotel and
restaurant owners to seek halal certification for their
facilities.

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Selecting and Establishing
Market Segmentation, Targeting
and Positioning

Figure 6.2 The three-step process in selecting and targeting a market

position

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Selecting and Establishing Market
Segmentation, Targeting and
Positioning (cont.)

Figure 6.3 Target market strategies

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Selecting and Establishing
Market Segmentation, Targeting
and Positioning (cont.)
Market Positioning

• A firm is to set a position within the selected target market

that differentiates it from its potential and current
competitors.

• Position is about how the firm is situated relative to

competitors. Can be understood by analyzing the features
of its products or services. For example, Porsche‘s
position in the automobile markets differs from Proton’s and
Perodua’s position in substantial ways.

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Selecting and Establishing
Market Segmentation, Targeting
and Positioning (cont.)
Market Positioning

• The term differentiation emphasizes the image a firms wants

to be perceived by its customers and answers the question,
“Why should someone in our target market buy our
product or service instead of our competitors?”
• Normally, firms develop or create a tagline. For example,
Universiti Kuala Lumpur’s tagline ‘Where knowledge Is
applied’ and has successfully made you think immediately of
its products or services.

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Product Strategy
• A product is a good/service/idea consisting tangible and intangible
characteristics that give satisfaction and benefits to customers. The
following is the process flow from idea development to the
commercialization process of developing new products.

Figure 6.4 Product Development Process

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Product Strategy: Product Classification

• Products can be classified as either consumer or industrial products.

• Consumer products are purchased for household or family or individual

daily use or activities.
– Convenience products are purchased regularly, without a lengthy
search, and are for immediate use. Normally, users buy any available
brand in the store.
– Shopping products are bought after the user has compared
competitive products. Decisions to buy are influenced by the
product’s price, attributes, quality, style, after-sales service, and
image.
– Specialty products are products that the users make a special effort
to purchase. Purchased not on a regular basis, normally has a lower
turnover, and users are not willing to accept a substitute product as
well. For example buying a house.
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Marketing Strategy (cont.)

• Industrial products are used directly or indirectly in the business

operation or manufacturing processes to produce other products. They can
be classified as the following:
– Raw materials are natural resources and usually require additional
processing for use in production.
– Major equipment or machine is used for production purposes to
produce a final product or a semi-complete product.
– Accessory equipment does not become part of the final product. It is
used for production, office, or management purposes.
– Component parts are final items and ready to be installed into the final
product.
– Processed materials are things that are used directly in production or
management operations.
– Supplies are materials that make management, production, and other
business operations possible.
– Industrial services include financial service, legal advisor, marketing
research, auditors, and maintenance services.
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Marketing Strategy (cont.)

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Product Strategy: Product line and Product mix

– A product line is a group of closely related products

that are treated as a unit of product because of their
similar marketing strategies and production processes
or end-use considerations.

– On the other hand, product mix is all the products

offered by the organization.

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Figure 6.5 The Product life cycle

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Product Strategy: Branding

• Branding is the process of assigning a name and
identifying products. A brand is a set of positive or negative
attributes that customers associate with a firm.

• Examples of positive attributes include trustworthy,

innovative, dependable, durable, and easy to deal with;
while cheap, unreliable, or not easy to deal with are
examples of negative attributes.

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Figure 6.6 The different meaning of a brand

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 233
Marketing Strategy (cont.)

Product Strategy: Branding (cont.)

• Effective branding is to create a strong personality for a firm,

designed to appeal to the chosen target market. For example,
Pizza Hut has projected a brand that conveys an experience framed
around warmth and hospitality, encouraged customers to linger and
buy more of its products.

• How to develop a good brand? First, a brand must have meaning and
value for which customers are willing to pay. Whether it is high quality,
low price, fashion-forward, user-friendly, or dependable–-create a
relationship between firms and their customers.

• There are several ways to develop a good brand, such as through

advertising, promotion, sales force, public relations, and excellent
performance. A brand can be in the form of a name, logo, website, and
even letterhead.

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Product Strategy: Branding (Con’t)

• Brand equity denotes the set of assets that are linked to a brand
which enable it to raise a firm’s market value.

• Co-branding a relationship between two or more firms where the

firms promote each other’s brands. For example, Maybank co-brands
MasterCard and VisaCard with Jusco, AEON, and many more.

• Two main categories of brands: (1) manufacturer brands initiated

and owned by the manufacturer to identify products from the point of
production to the point of purchase, and (2) private brands owned
and controlled by a wholesaler or retailer.

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Product Strategy: (cont.)

• Packaging is the external container that holds and

describes the product.

• Labeling present important information on the package.

Warranties, contents, nutritional information, safety
precautions, and instructions are the kinds of information
contained on labels.

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Pricing Strategy
• Most firms use one of the three methods to set the price for their
products – Cost-based pricing, Value-based pricing, and
Competitor-based pricing.
– In cost-based pricing – setting prices based on the costs for
producing, distributing, and selling the product plus a fair rate of
return for effort and risk.

– In value-based pricing – setting prices based on consumers’

perceptions of value rather than on the seller’s production cost.

– In competitors-based pricing – set prices to reflect the way

they want consumers to interpret their own price relative to the
competitors’ offerings. For example, setting a price very close to
a competitor’s price signals to consumers that the product is
similar, whereas setting the price much higher signals greater
features, better quality, or some other valued benefit.
TECHNOPRENEURSHIP Second Edition All Rights Reserved
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 237
Marketing Strategy (cont.)

Pricing Strategy
• Pricing objectives:
(1) maximization of profits and sales,
(2) boosting market share,
(3) maintaining the status quo, and
(4) survival

• Pricing new products: price skimming or penetration pricing

• Psychological pricing – based on emotional rather than rational

responses to the price. for example even pricing or odd pricing ($9.99
rather than $10) is an example of psychological pricing. RM10.90

• Temporary price reductions or price discounts are often employed

to boost sales. For example, quantity (bulk purchases) discounts,
seasonal discounts, promotional discounts.

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Place (Distribution Channel) Strategy

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Place (Distribution Channel) Strategy (cont.)

• Intensive distribution makes a product available in as many

outlets as possible. This type of distribution is usually used for
convenience goods.

• Selective distribution uses only a small portion of all available

outlets. It is used most often for products for which consumers
compare price, quality, and style.

• Exclusive distribution exists when a manufacturer gives a

middleman the sole right to sell a product in a defined geographic
territory. This method is used when products are purchased and
consumed over a long period of time and requires service or
information to develop a satisfactory sales relationship.
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 240
Marketing Strategy (cont.)
Promotion Strategy
• The role of promotion is to communicate with individuals, groups,
and organizations to facilitate an exchange directly or indirectly.
• A push strategy is used to motivate middlemen to push the product
down to their customers. With a pull strategy, promotion creates
consumer demand for the product so that consumers will exert
pressure on marketing channel members to make the product
available.

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Promotion Strategy:
Promotion Mix: Promotion, Advertising, Personal Selling, and
Public Relation

• Typical objectives are stimulating demand, stabilizing sales, or

informing, reminding, and reinforcing consumers.

• The main goals of advertising include the following:

– To increase customer awareness of the product.
– To communicate and disseminate a product’s comparative
features and benefits.
– To create a relationship between a product and a certain
lifestyle.

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Promotion Strategy: Advertising

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Promotion Strategy: Public Relations

• PR refers to building good relations with the company’s various

publics by obtaining favorable publicity, building a good corporate
image, and handling or heading off unfavorable rumours, stories,
and events.

• The following are several techniques that fit the definition of public
relations:
– Press release
– Media coverage
– Articles
– Blogging
– Newsletter
– Conference
– Community
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 244
Marketing Strategy (cont.)

Promotion Strategy: Personal selling

• Personal selling is a direct, two-way communication with buyers and
potential buyers.
– Step 1. Prospecting—identifying potential buyers,
– Step 2. Approaching—using a referral or calling on a customer
without prior notice to determine interest in a product,
– Step 3. Presenting—getting the prospect’s attention with a
demonstration,
– Step 4. Handling objections,
– Step 5. Closing—asking the prospect to buy the product,
– Step 6. Follow-up—checking customer satisfaction with the
purchased product.

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Promotion Strategy: Sales promotion

• Sales promotion uses such items as coupons, contests, and free

samples to persuade buyers to purchase products.
• The major tools of sales promotion are store displays, premiums,
trading stamps, samples and demonstrations, coupons, contests
and sweepstakes, refunds, and trade shows.
• Sales promotion stimulates customer purchasing and increases
dealer effectiveness in selling products. It is used to enhance and
supplement other forms of promotion. Sales promotions are
generally easier to measure and less expensive than advertising.

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Figure 7.11 The Online marketing mix

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• Online Product Strategy

– Similar to the assortment selection practices of retailers
– Once the assortment has been selected, the merchant must come
up with some creative expression for the product because this is a
common practice in the retail industry.
– Collaborative filtering
• Online Pricing Strategy
– Dynamic pricing
– Forward auction
– Reverse auction
• Online Place (Distribution Channel) Strategy
– Remote hosting
– Affiliates

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• Online Promotion Strategy

– Banner advertising
– Sponsored link
– E-mail
– Viral marketing or word-of-mouse
– E-coupons
• Online Personalization Strategy
– any aspects of a website that is custom made to
individuals in response to a returning customer. When the
users return they are only shown the information that
they signed up for or find relevant.
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 249
Online Marketing Strategy (cont.)

• Online Privacy Strategy

– To “control to access” allow individuals to reasonably
manage their personal information that they are willing to
giving away.
– Addresses issues such as what information is being
collected, how that information is being used, if the
information were to be sold or shared with third parties
and if so in what context.

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• Online Customer Service Strategy

– Frequently asked questions (FAQs) and Help desks
– E-mail
– Chat room

• Online Community Strategy

– Refers to customers or users who get together and communicate
with each other in such a way that promotes the advantages of
visiting the sponsor’s website.

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• Online Security Strategy

– The issue of concern to the purchaser is mainly on how
someone (e.g. hacker) can easily intercept the purchase
transactions and the credit card data.
– To address these issues, a security policy that deals with
the site aspects, the security of the transaction, the
technology being utilized, the customer’s liability if his or
her credit card number is being stolen, and a breach of
security should be implemented.

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• Online Site Design Strategy

– help contribute to more traffic to the website.
– identity and representative of a company or an individual
involved in e-business.
– promotes the company’s name or brands by creating
more business opportunities, generating more revenue
for the company and ultimately, increasing the
company’s return on investment.

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At the end of this chapter, you should be able to:

• Define the transformation process
• Design the process flowcharts for a particular
production system
• Organize the material requirement planning process
• Calculate the operational cost and cost per unit
• Prepare the operation plan for their proposed business
plan

TECHNOPRENEURSHIP Second Edition All Rights Reserved

• Operation management is the business function

that plans, coordinates, and controls the
resources needed to produce a company’s products
and services. (Reid and Sanders)

• Production is the creation of goods and services.

(Heizer and Render)

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• The role of operations management is to transform

a company’s inputs into the finished products
or services.
• Inputs include human resources, facilities and
processes, as well as materials, technology and
information.
• Outputs are the goods and services that a
company produces and delivers.

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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 258
The Transformation Process
(cont.)
Transformation processes can be categorized as
follows:
• Physical location (as in manufacturing)
• Location (as in transportation)
• Exchange (as in retailing)
• Storage (as in warehousing)
• Physiological (as in health care) and
• Informational (as in telecommunication).

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• Productivity is the ratio of outputs (goods and

services) divided by the inputs (resources, such as
labor and capital).
• Productivity measures how well resources are
used.

output
Productivi ty 
input

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• Productivity computed as a ratio of output to all

organizational inputs.

•Example:
Mahogany Furniture is a furniture shop that focuses on
making office table. The weekly ringgit value of its output,
including finished goods and work in progress, is
RM28,560. The value of inputs, such as labor, materials
and capital is approximately RM 32,440.

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Total productivity = Output

Input
= RM 28560
RM 32440
= 0.88

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• Partial Productivity: Productivity computed as a

ratio of output to only one input (e.g., labor,
materials, machine).

• Examples:
Mahogany Furniture has just purchased a new
sanding machine that is able to process 27 tables
in 8 hours. What is the productivity of the sanding
machine?

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number of tables
Machine Productivi ty 
processing time
27

8 hours
 3.375 tables/ho ur

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Example:
• Mahogany Furniture hires two new workers to paint
tables. If the workers paint 22 tables in 8 hours,
what is their productivity?

number of tables
Labour Productivity 
total labour hours
22tables

2 workers x 8 hours
 1.4 tables/hou r

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• Productivity computed as a ratio of output to

several, but not all inputs.
• Example:
Mahogany Furniture will sell the table at RM382
per unit. The labor and materials costs are
RM 168 and RM 98 respectively. What is the
multifactor productivity ratio for Mahogany
Furniture?

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output
Multifacto r Productivi ty 
(labour  materials)
RM382

RM168  RM 98
 1.4 3

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• Process planning involves the identification of the

step-by-step processes from beginning to end in
making the product or in providing the services.

• Also called: manufacturing planning, process

planning, material processing, process
engineering, and machine routing.

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• A flow chart is a graphical or symbolic

representation of a process.

• Each step in the process is represented by a

different symbol and contains a short description
of the process step.

• The flow chart symbols are linked together with

arrows showing the process-flow direction

TECHNOPRENEURSHIP Second Edition All Rights Reserved

Flowchart is useful:
(1) To develop an understanding of how a process is
done
(2) To study a process for improvement
(3) To communicate to others on how a process is
done
(4) To document a process
(5) When planning a project

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• Layout refers to the arrangement of machine,

equipment, workers and other facilities used in the
operations.

• Types of layout:
(1) Layout based on product
(2) Layout based on process
(3) Layout based on marketing

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• The following factors must be considered when designing the layout:

(1) Machinery, equipment and work station should be arranged in such a
manner that the materials can flow smoothly throughout the
production area.
(2) Different types of products should be separated to avoid mix-up.
(3) Movement of raw materials should be minimized.
(4) Operation space must be utilized efficiently.
(5) Layout should enable effective supervision.
(6) A conducive work station is designed so that maintenance work can
be performed easily.
(7) Movement of workers should be minimized.
(8) The layout plan should be flexible so that it is adaptable and can
meet future requirements.

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• Material requirement planning involves four steps

as follows:
(1) Identify and list down the raw materials required
(2) Prepare the bill of materials
(3) Calculate the quantity of raw materials required
(4) Identify the supplier

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• Capacity is the maximum output rate that can be

achieved by a facility. The facility may be an entire
organization, a division, or only one machine.
• There is no one way to measure capacity.
Different people have different interpretations of
what capacity means, and the units of
measurement are also often very different.

• Below are examples of the way to calculate capacity.

(1) Output rate (per month, per day, per hour)
Example:
• Average sales forecast/month = RM 25,200.00
• Price per unit = RM 15.00
• Number of output per month = RM
25,200.00

• If the number of working days per month is 24 days,

the amount of output to be produced per day is:

• = 1,680 units
24 days
• = 70 units per day

• If the effective working hours per day is 7 hours, the

amount of output to be produced per hour is:
• = 70 units
7 hours
• = 10 units per hour

(2) Machine capacity

Example:
• 1 machine can produce 50 units of products per day

• No. of Machine Required = Planned Production / day

Machine Productive Time / day

• = 70 units per day
50 units per day
• = 1.4 machines
• Thus, we need 2 machines to produce 70 units per day
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 285
Capacity Planning (cont.)

(3) Workers’ capacity

Example:
• If 1 worker can assemble 2 units per hour, than his
hourly capacity is
• = 2 units/ 1 hour = 2 units per hour

• Therefore, the number of workers required to produce 70

units per day is:
• = production capacity per hour required
Workers’ capacity per hour
• = 10 units per hour = 5 workers
2 units per hour
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 286
Location

• One of the important problems of launching an

industrial enterprise is the choice of suitable
location which will help in minimization of
production cost and maximization of profit.

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 288
Operational Cost and Cost Per
Unit
• Operation cost consists of activities and processes
that convert raw materials into finished goods.
Operation cost includes costs of direct material,
direct labour and overheads.
• Operations cost & cost/unit can be calculated using
this formula:

Operations costs = Direct materials cost + Direct

labour cost + Overhead cost

Cost per unit = Total Operations Cost (RM)

• Raw materials that can be physically and directly

associated with the finished product during the
manufacturing process are called direct materials.
Example:

• The work of factory employees that can be

physically and directly associated with converting
raw materials into finished goods is considered
direct labour
• Examples:
(1) Bottlers at Coca-Cola
(2) Bakers at Secret Recipe
(3) Typesetters at NSTP printing plan

• Consists of costs that are indirectly associated with

the manufacture of the finished product.
• These costs may also be manufacturing costs that
cannot be classified as direct materials or direct
labor.
• Manufacturing overhead includes: indirect
materials, indirect labor & indirect expense.

(1) Indirect material

• Materials that do not physically become part of
the finished product. For example:
lubricants, polishing compound, sandpaper.
• Cannot be traced with the finished product
because it is too small in terms of cost. For
example: cotter pins, lock washer.

(2) Indirect labour

• The wages of maintenance people, time-
keepers, and supervisors are usually
identified as indirect labor.
• Their efforts have no physical association
with the finished product, or it is impractical to
trace the costs to the goods produced.

(3) Factory-related cost / indirect expense

• Costs associated with the occupancy of the

factory.
• Factory-related costs are not easily traced or
identified with particular products.
• For example: factory rent, factory insurance,
factory building and equipment depreciation,
factory utilities, and factory and equipment
maintenance.

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 295
MODULE 9: TECHNOLOGY-BASED
RESEARCH AND DEVELOPMENT
FACULTY OF BUSINESS AND ENTREPRENEURSHIP, UMK
LEARNING OUTCOMES
• Identify the research and development technology process flow in
Malaysia
• Discuss the most popular research and development cluster in Malaysia
• Describe the current research and development challenges in Malaysia
• Explain the high-tech innovative and research culture in Malaysia
WHY R&D???
R&D VIDEO
INTRODUCTION
• R&D focus on long-term profitability for a company.
• R&D classified into BASIC research and APPLIED
research
RESEARCH AND DEVELOPMENT
CLUSTER

Pharmaceuticals Business R&D Alliance

R&D
Re-orientaion
PRODUCT RESEARCH AND
DEVELOPMENT
R&D CLUSTER OBJECTIVES
• To encourage collaboration between key players to produce
leading-edge products and technologies
• To promote Multimedia technology transfer to Malaysia and
encourage local high-tech start ups
• To increase local R&D activities to improve Malaysia human
capital and competitiveness
R&D CHALLENGES
• Formation and collaborative network
• Globalization
• Innovation products
• Managing intellectual property
• Customer- centric orientation
• Minimal resources
COMMERCIALIZATION
TECHNOLOGY COMMERCIALIZATION
CYCLE OF INNOVATION
MODULE 10 :
INTELLECTUAL PROPERTY
MANAGEMENT
FACULTY ENTREPRENEURSHIP AND BUSINESS
UNIVERSITI MALAYSIA KELANTAN
LEARNING OUTCOMES

 List MyIPO Objectives

 Describe the forms if intellectual property (IP)
protection
 Explain function of MyIPO
 Demonstrate the importance of IP protection
 Explain international agreements, conventions
and treaties involved in IP
Introduction

 Ideas and knowledge are important part of global

trade
 Intellectual
Property rising proportion of
economic output
MyIPO
Forms of Intellectual Property

Patent Trademark Copyright

Industrial Geographical
Design Indication
Patent

 An exclusive right granted for an invention, which

is a product or process that provides a new way of
doing something, or offers a new technical
solution to a problem
Trademark

A sign which distinguishes the goods and services

of one trader from those of another. A mark
includes words, logos, pictures, names, letters,
numbers or a combination of these
Copyright

 Theexclusive right given to the owner of a

 Theornamental or aesthetic aspect of an article.

The design may consist of 3D features such as the
shape and configuration of an article, or 2D
features, such as pattern and ornamention
Geographical Indication

 Anindication where the goods are produced,

where a given quality, reputation or other
characteristics of the goods is essentially
attributable to their geographical origin
12
Chapter
1

Financing
and
Venture Capital
Financing and Venture Capital

1. Identify different sources and stages of finance

available to both internal and external managements.
2. Explain the advantages and disadvantages of the
different sources of funds.
3. Describe the factors governing the choice between
different sources of funds.

The financing source is crucial in determining the smooth flow of the

business venture’s sustainability.

Figure 12.1 shows the stages of financing.

Pre-seed financing
Relatively small amount of capital provided to an inventor or entrepreneur

Seed financing
Financing provided to newly-formed companies for use in completing product
development and in implementing the initial marketing.

First-round financing
Financing is provided to companies that have expanded their initial capita

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 321
Growth and Expansion Stage
Second-round financing
Financing is provided for company expansion, seen in producing and shipping
products, and which needs to support growing accounts’ receivables and
inventories. Although the company has clearly made progress, it is yet to reap
profit at this stage.

Third-round financing
Funds are provided for major expansion of a company which has increasing sales
volume; is breaking even; or has achieved initial profitability.
Funds are utilized for further plant expansion, marketing, and working
capital; or for the development of an improved product, a new technology,
or an expanded product line.

Bridge financing
Financing is provided for a company expected to go public within six
months to a year.
Often,
bridge financing is structured so that it can be repaid from the
proceeds of a public offering.

Capital is required to finance investments in:

fixed assets (land, building, machine and equipment) &
working capital.

There are three sources:

(a) The entrepreneur’s own funds,
(b) Debts financing (e.g. banks, finance companies), and
(c) Equity financing (e.g. angels/investors)

Factors for Technopreneurs to consider:

• Impact on company performance:
How the financing will affect the company’s performance.
• Requirements of financing source:
Understand that different sources of financing will have different
requirements.
• Availability of financing information:
For some types of financing, technopreneurs can easily obtain information
concerned online,
but they may not be able to do so for others.

There are two types of financing:

1. Debt financing
2. Equity financing.

1. Debt Financing Involves:

• A payback of funds, plus interest.
• Debt places a burden of repayment & interest on the entrepreneurs.
• The easiest way to raise money
• Borrower is able to get funding & maintain control of the business.
• Lending terms are outlined in advance,
• Usually include a payback schedule and interest rates.

Sources of debt financing include:

• banks, • federal government, • state & local government
programmes, & • finance companies.

Financial institutions
Such as banks, building societies and credit unions
Include business loans, lines of credit, overdraft facilities, invoice financing,
equipment leases & asset financing.
Retailers
If you require finance to purchase goods such as furniture, technology or
equipment, many stores offer store credit through a finance company. Suppliers
Most suppliers offer trade credit that allow businesses to delay payment for
goods. The terms often vary and trade credit may only be offered to businesses
that have an established relationship with the supplier.

• Selling a stake in the business for money.

• Forces the entrepreneur to relinquish some degree of control. Basically,
the business owner gives up a share of the profits to the investor, and
possibly some control of operations. Investors speculate that the
business will succeed and that their shares will rise in value.
• When you think of equity financing, you can think of the stock market,
where company shares are bought and sold every day by businesses
wanting to raise money.

a) Self-funding:
• Personal savings
• Family or friends
b) Private investors
c) Venture capitalists
d) Stock Market
e) Government
f) Angels
g) Venture capital companies /
corporate ventures:

Equity Fund
Capital rising through share issues is a significant source of finance for potentially
strong entrepreneur-based companies in Malaysia

Debt Funds
Debt funds have a lower capital cost to the company than shares.
increase the financial risk attached to the shareholders’ investment.
As shareholders’ investment ranks last for the payment in the event of liquidation, they
are at greater risk.

Debentures and unsecured notes are funds sought from the public.

Short-term financing must be repaid within one year.

The most popular types of short-term credit include trade credit and bank
overdraft.
Trade Credit
Trade credit is an important source of short-term funds. It is relatively easy to
obtain if a business has a good credit record
Bank Overdrafts
Bank overdrafts are another means of short-term financing. A bank overdraft is
an arrangement whereby the bank agrees to allow a business to overdraw its
account up to a specific amount called the ‘overdraft limit’.

Financial ability is an important factor in determining whether a business

opportunity can be further developed or not.
• Provides financial services for its clients or members.
• Encompasses a broad range of organizations that deal with the management of
money.
Among these organizations are banks, credit card companies, insurance companies,
consumer finance companies, stock brokerages, and investment funds.
• Acting as financial intermediaries. Most financial institutions are highly
regulated by government bodies.
• Are the major source of debt financing for small businesses.
• The Micro Credit loan offered by BSN, CIMB Bank, AmBank and others is
one good example.

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 333
Government Funding Schemes and
Grants for Technology Ventures in Malaysia

Agencies that provide government-backed schemes & funds in Malaysia:

(a) Malaysian Venture Capital Management Berhad (MAVCAP)
(b) Multimedia Development Corporation (MDeC)
(c) Malaysian Technology Development Corporation (MTDC)
(d) Ministry of Science, Technology and Innovation (MOSTI)
(e) Small and Medium Industries Development Corporation (SMIDEC)
(f ) Malaysian Venture Capital Management Berhad (MAVCAP): A unique
venture capital company incorporated in 2001, MAVCAP is purely committed
to the technology sectors and invest in a mix of local and overseas businesses
to bring technologies and entrepreneurial skills together. Its investment
focus is placed on the ICT areas of
• communications and networking,
• electronics,
• semiconductors,
• the Internet,
• information technology,
• bio-tech and life sciences,
• medical and health services and device/equipment, and
• other new areas of high growth.
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© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 334
Funding schemes/grants offered by
the Malaysian government

Figure 12.2 Funding schemes/grants offered by the Malaysian government

There are two main types of funding offered by MAVCAP.

(i) Seed venture fund: idea/pre-start-up stage:

Table 12.1 Size of direct investment funding

SIZE FUNDING
Start-ups Between RM50,000 to RM500,000

Other than start-up Ranging from RM500,000 - RM10

million

(ii) Cradle Investment Programme (CIP): The objective of CIP is to generate

ICT, biotechnology and high growth areas, and new areas of growth in the
field of science and technology with innovative ideas.

(g) Multimedia Development Corporation (MDeC): MDeC has been entrusted

to manage the following funding and oversee the progress and completion of funded projects:
(i) The MSC Malaysia R&D Grant Scheme (MGS): A total sum of RM120
million has been allocated for the MGS to support R&D initiatives within
the MSC. The MGS will provide a grant of up to 50% of the approved
total project cost, or RM1.2 million, whichever is lower. The amount of
the grant approved will be determined by the merits of each case.
(ii) Technopreneur Pre-Seed Fund Programme: This grant is for projects with
ready prototypes suitable for seed/start-up funding. This programme is
targeted at local entrepreneurs whose ideas have been developed into
a business plan and which requires further development. The size of
funding is up to a maximum of RM150,000 for development up to 12
months. Project proposals eligible for consideration to fall under any of
the following clusters and qualifying activities:
• Creative media and content development
• Software development
• Internet-based businesses
• Support services
• Shared services outsourcing
• Hardware design

(h) Malaysian Technology Development Corporation (MTDC): MTDC’s

investment criteria are focused on the following:
• Non-ICT sector (focus on life sciences sector)
• Strategic technologies
• High investment return
• Clear and defined business vision
• Credible management team

There are two types of financial assistance offered by MTDC.

(i) Venture capital funds: MTDC invests in early, growth and late-stage
technology-based businesses. In order to diversify its risks, the equity
stake in any investment is limited to around 30%. The investment
horizon is limited up to five years.

(ii) Special-purpose government grants: The Technology Acquisition Fund

(TAF) facilitates the acquisition of strategic and relevant technology.
The Commercialisation of Research & Development Fund (CRDF)
provides partial grants to qualified R&D projects for commercialisation.
The Technology Acquisition Fund for Women (TAF-W) provides partial
grant to promote efforts by women entrepreneurs, assisting their companies to be at the
technological forefront, pursuing market reach with their products/services.

(i) Ministry of Science, Technology and Innovation (MOSTI):

The Flagship
Programme is a special grant scheme programme provided by MOSTI to
fund research in areas identified to have an impact on the development of
STI and aligned with the New Economic Model.
The programme has a topdown approach and the National Science and Research
Council (NSRC) sets the research priority areas and particular niches that need to
be implemented for the sustainability of current Government initiatives.

The funds offered by MOSTI include:

• ScienceFund:
The objectives of ScienceFund are
(i) to support research that can lead to the innovation of products or
processes for further development and commercialisation, and
(ii) to generate new scientific knowledge and strengthen national
research capacity and capability.

• TechnoFund:

The objectives of TechnoFund are:

(i) to undertake the development of new or cutting edge technologies or
further develop/value add existing technologies/products in specific
areas for the creation of new businesses and generation of economic
wealth for Malaysia,
(ii) to undertake market driven R&D towards commercialisation of R&D
outputs,
(iii) to encourage institutions, local companies and inventors to capitalise
their intellectual work through intellectual property (IP) registration,
and
(iv) to stimulate the growth and increase capability and capacity of
Malaysian technology-based enterprises, Malaysian Government
Research Institutes (GRI) and Institutions of Higher Learning (IHL)
through both local and international collaborations.

• InnoFund:
InnoFund can be categorized into Enterprise InnoFund (EIF)
and Community InnoFund (CIF). The objectives of InnoFund are
• to increase the participation of micro-businesses or individuals in
innovative activities, and
• to encourage technological innovation of new or existing
products, process or services for commercialisation.

(j) Small and Medium Industries Development Corporation (SME Corp):

SME Corp offers the following grants:

(i) Matching grant for business start-ups: This scheme provides matching
grant where 50% of the approved project cost is borne by the
government and the remainder by the applicant. For enterprises in the
manufacturing sector, incorporated under the Registration of Business
Act 1956, assistance is up to 80% of the approved cost. The maximum grant
allocated per application is RM 40,000. Sector coverage includes
manufacturing and manufacturing-related activities, such as product/
process development, software development, and product/process
design. Eligible expenses include preparation of business plan, related
feasibility studies, rental of incubators and business premises up to
24 months, rental of equipment and machineries, development of
prototype, product sample and testing.

(j) Small and Medium Industries Development Corporation (SME Corp):

SME Corp offers the following grants:

(ii) Matching grant for product and process improvement: This scheme
provides matching grant to SMEs for improvement and the upgrading
of existing products, product design and processes upgrading.
50% of the approved project cost is borne by the government and
the remainder by the applicant. The maximum grant allocated per
application is RM500,000. Sector coverage includes manufacturing
and manufacturing-related activities, such as product/process
development,software development, and product/process design.
Eligible expenses include technology feasibility studies, technology
transfer fees, development of prototypes and system design, product
testing, product registration, marking and labeling.

Risk is defined as the chances of having an unexpected or negative outcome.

There are three types of risks: business risk, non-business risk and financial risk.

Source: Adapted from http://www.simplilearn.com/financial-risk, retrieved 2 June 2016

Figure 12.3 Financial risk

Table 12.2 Types of financial risks

Type of Risk Explanation

Market Risk This risk increases due to movement in prices of financial instrument. Directional risk
and non-directional risk are types of market risks. Directional risk is caused due to
movement in stock price, interest rates and more, whereas non-directional risk can be
volatility risks.

Credit Risk This risk increases when one fails to fulfill their obligations towards their counter
parties. Sovereign risk and settlement risk are classified as credit risks. Sovereign risk
usually arises due to difficult foreign exchange policies, whereas settlement risk arises
when one party makes payment while the other party fails to fulfill the obligations.

Liquidity Risk This risk increases due to the inability to execute transactions. Asset liquidity risk and
funding liquidity risk are two types of liquidity risks. Asset liquidity risk arises either
due to insufficient buyers or insufficient sellers against sell orders and buy orders
respectively. Funding liquidity risk arises due to the buyer’s inability to repay the funds
in time as stipulated in the agreement.

Operational This risk increases due to operational failures, such as mismanagement or technical
Risk failures. Fraud risk and model risk can be classified as operational risks. Fraud risk
arises due to lack of controls, whereas model risk arises due to incorrect model
application. Legal Risk This risk involves legal constraints such as lawsuits. When a
company needs to face financial loses due to legal proceedings, it is legal risk.

END OF CHAPTER 12

© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 346
CHAPTER
1 15
Business Ethics and Corporate
Social Responsibility
Learning Outcomes

At the end of this chapter, you should be able to:

• Differentiate between ethics and business ethics

• Describe the concept of ethical behaviour in business and how companies

can benefit from having ethical stakeholders

• Explain the significance of corporate social responsibility (CSR)

• Discuss activities under corporate social responsibility and how it impacts

businesses

• Recognize the differences between Islamic and conventional ethical

systems

• The principles of conduct defining what is right and

wrong governing an individual or a group.
• Business ethics is the principles and standards that
determine the acceptable and right conduct in
business dealings and transactions.
• It is also concerned with moral judgments for
decisions taken in business dealings.

• In daily interactions, technopreneurs and their

employees are faced with temptations to commit
wrongdoing such as:

• Offering/ taking of bribes/ kickbacks

• Short-changing weights when selling products

• Using sub-standard products as genuine originals

• Personal values and social background especially of top

management

• External forces including bottom line performance figures

• Internal environment of the company including its policies

and business practices

• Ethics in finance

• Ethics in marketing and sales

• Ethics in dealing with intellectual property

rights

• Ethics in employee relations

• Ethics in production

 The code of ethics is normally prepared by human

capital.

 The code of ethics is to be displayed prominently in the

company.

 The code of ethics must be given to all employees and

stakeholders.

 The code of ethics is to be enforced fairly.

• Form ethics and integrity committees at division levels

• Set up SOPs for reporting and follow up

• Appoint an ethics ombudsman/ officers

• Set up training programmes on ethical behaviour

 Islam as a way of life. Ethics governs all aspects of a

Muslim’s life.

 In the Quran, Allah describes successful people in life

as those who are ‘inviting all that is good (khayr),
enjoining what is right (ma’ruf) and forbidding what is
wrong (munkar)’

• There are different factors that may affect an individual’s

ethics, the most important being the individual himself.
The others include

• the individual’s values and moral attitudes

• personality and character of individual

• family and peer influences

• situational factors

TECHNOPRENEURSHIP Second Edition
© Oxford Fajar Sdn. Bhd. (008974-T), 2016 1– 357
Differences From Other
Conventional Systems

 Islamic ethics are for guidance throughout life based on

teachings of Al-Quran and sayings and actions of
Prophet Muhammad (pbuh)

 In conventional (secular) system in, interpretations of

laws are based on current judgments and
contemporary values and standards. This can cause
biases of personalities involved.

• Open and transparent business practice that is based on

ethical values and respect for the community,
stakeholders, including the government.

• Integrating ethical practices into a company’s strategies

and operations

Company’s Social Responsibility

• Besides profits, companies must also concern

themselves with positive/negative effects of their
operations on the population, society and the
environment.

• Economic responsibility

• Legal responsibility

• Ethical responsibility

• Philanthropic or voluntary responsibility

• Investors looking for socially responsible companies

• Investors look for sustainable development

• Muslim investors looking for Syariah-compliant

companies

• Millennials like to work in companies that take their

CSR seriously.

• The Government has encouraged CSR activities for

Companies and Ministries and NGOs.

• Many companies are already involved.

• Amongst them are: PETRONAS, AMBANK, Bank

Islam, AXIATA, Universiti Kuala Lumpur, Nestle and
General Electric.

Areas of CSR by Malaysian Companies

• Education and skills building for children from poor

backgrounds

• Flood relief and rehabilitation

• Environmental, e.g. Mangrove habitat, Wetlands

• Human capital development for young people

• In Malaysia, the public is more concerned with corruption.

• The Government has set up the Anti-Corruption Agency

(now renamed Malaysian Anti-Corruption Commission).

• The private sector established the Corporate Integrity

Pledge (CIP) to stamp out corruption in business dealings.

• There has been attempts to stop money politics, but with

not much success till now.

• It is imperative that companies pay special attention to

ethical behaviours of their stakeholders, particularly top
management.

• By becoming good citizens with their CSR activities,

they can also improve their profits and performance.

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