Week 3 24 30 July 2006

AGENDA Entrepreneurial traits, skills and knowledge

Strategic management Quality management Managing competitors Managing human resource Managing finance
MOHD KHATA BIN JABOR SPE3002 / SPK5002

Strategic Management
What is strategic management? The importance of strategic management Types of business strategy Strategy approaches Factors affecting strategy approaches

MOHD KHATA BIN JABOR SPE3002 / SPK5002

What is strategic management?

Setting vision, mission and objectives Comprehensive plan to face any challenges Systematic approach to use resources

MOHD KHATA BIN JABOR SPE3002 / SPK5002

The Importance of Strategic Management

Improve communication process Explain the tasks and responsibilities of each staff Greater Commitment Greater sense of responsibility and ownership Proactive and creative in decision making
MOHD KHATA BIN JABOR SPE3002 / SPK5002

Strategy Approaches
Stablisation strategy Development strategy Stopping strategy Mixed strategy Corporate strategy

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Factors Affecting Strategy Approaches

New entry threat Purchasing power Replacement threat Power of supplier and retailer Competition among the industries Alternative strategy

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Quality Management
Quality concepts Measures fulfilling customers needs Quality function Scopes for customer service Customer management principles

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Quality Concepts
Quality in product design Quality in standard

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Measures Fulfilling Customers Needs

Availability Reliability Validity Service

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Quality Functions
Continuous monitoring Continuous warranty Benchmarking Planning Analysis Action

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Scopes for Customer Service

Main service Defect warranty Quality assurance Consultation service Education and training Spare parts

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Customer Management Principles

Honesty Cooperation Commitment Customer friendly Adapt to local culture

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Managing Competitors
Competition factors Strategies to compete Strategic marketing plan

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Competition Factors
Existing companies New entrants Purchasing power Power of retailer and supplier Replacement products

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Strategies to Compete
Market niche Customer friendly Appreciate staffs Handle wastage Serious in quality Personal commitment Fast action Benchmarking
MOHD KHATA BIN JABOR SPE3002 / SPK5002

Strategic Marketing Plan

Product design Pricing Distribution channels Promotions

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Managing Human Resource

Entrepreneur and employees The importance of effective human resource management Human resource activities

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Entrepreneur and employees

Ensure quality and quantity Target date Work plan Wastage Higher operation and administration cost Vandalism

MOHD KHATA BIN JABOR SPE3002 / SPK5002

The Importance of Effective Human Resource Management

Higher belief among the staffs Greater skills Minimize stress Increase motivation Identify good staffs Staff development

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Human Resource Activities

Human resource planning Recruitment and selection Training and development Motivation Career development Reward management Staff relation or union Staff evaluation Safety and health
MOHD KHATA BIN JABOR SPE3002 / SPK5002

Managing Finance
The importance of financial management Company finance Financial analysis mechanisms Company future plan

MOHD KHATA BIN JABOR SPE3002 / SPK5002

The Importance of Financial Management

Accounting records Accounting reports Cash expenses Profit and loss statement Balance sheet

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Company Finance
Loan management
Status and history Company prospect Objectives of the loan Payment schedule Credit rating

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Financial Analysis Mechanisms

Business monitoring Profitability monitoring Cost monitoring Asset monitoring

MOHD KHATA BIN JABOR SPE3002 / SPK5002

Company Future Plan

Expansion Future profitability

MOHD KHATA BIN JABOR SPE3002 / SPK5002