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SC3 – Business Idea. Lim Sei Kee @ cK. Assessment Scheme. Coursework 50 % Assignment (Report and Presentation) Practical 50% Practical (Business Operation). Discussion Qs. 1. Define the term ‘business’. 2. What are the objectives of conducting business?

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sc3 business idea

SC3 – Business Idea

Lim SeiKee @ cK

assessment scheme
Assessment Scheme
  • Coursework 50%
  • Assignment (Report and Presentation)
  • Practical 50%
  • Practical (Business Operation)
discussion qs
Discussion Qs
  • 1. Define the term ‘business’.
  • 2. What are the objectives of conducting business?
  • 3. What do you need to have to start a business?
  • 4. How to start a business?
business
Business
  • Trade of goods
  • Trade of services
  • Objective: Making profit
how to start a business
How to start a business?
  • RIGHT BUSINESS IDEA!
  • Simple idea, a solution to a problem or a dream in someone’s head
remember successful entrepreneurs
Remember successful entrepreneurs?
  • What do they have?
  • PASSION
  • EG: Software (Bill Gates), Real Estate (Donald Trump), Entertainment (Walt Disney)
  • What else?
other than passion what is important
Other than passion, what is important?
  • Skills!

Good cook  open café

Good mechanic  open garage

Good teacher  open tuition school

a business needs
A business needs:
  • Finance
  • Labour
  • Customers
  • Suppliers
  • Premises and equipment
  • Management organization & structure
how to start a business1
How to start a business?
  • What type of business?
  • Nature of business?
  • Name?
  • Location?
  • Resources?
  • Cost of product / service?
  • Price?
no homework for today
No homework for today!
  • BUT,
  • Think about

- the business ideas that you may have

  • your group members