Assignment 1

ENTREPRENEURSHIP
ASSIGNMENT 1
NAME : MOHD HADRI ARIF BIN SABAIN
MATRIC NO : 4143004811

DEPARTMENT : MECHANICAL ENGINEERING
CODE : KFS 3122
LECTURER : MR. MUHAMAD RODZI BIN CHE ROSE
JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

IJAZAH SARJANA MUDA KEJURUTERAAN (KEPUJIAN) MEKANIKAL
QUESTION 1
In order of importance, list your own list of entrepreneurial competencies(at

least five) and justify each order.
ANSWER
1. Opportunity competencies
>> Competencies related to recognizing and developing market
opportunities through various means
2. Relationship competencies
>> Competencies related to person-to-person or
individual-to-group-based interactions, e.g., building a context
of cooperation and trust, using contacts and connections,
persuasive ability, communication and interpersonal skill
3. Conceptual competencies
>> Competencies related to different conceptual abilities, which
are reflected in the behaviors of the entrepreneur, e.g.,
decision skills, absorbing and understanding complex
information, and risk-taking, and innovativeness
4. Organizing competencies
>> Competencies related to the organization of different internal
external human, physical, financial and technological
resources, including team-building, leading employees,
training, and controlling
5. Strategic competencies
>> Competencies related to setting, evaluating and implementing the
strategies of the firm

IJAZAH SARJANA MUDA KEJURUTERAAN (KEPUJIAN) MEKANIKAL 1
QUESTION 2
Define business risks, give examples
ANSWER
Business risk is the possibility a company will have lower than

anticipated profits or experience a loss rather than taking a profit.
Business risk is influenced by numerous factors, including sales
volume, per-unit price, input costs, competition, the overall economic
climate and government regulations.
Concept of OSHA 1994
Example :
>>natural disasters, such as floods, storms, bushfires and drought
>>pandemic, such as human influenza, swine flu or bird flu
>>legal, such as insurance issues, resolving disputes, contractual breaches,

non-compliance with regulations, and liabilities
global events, such as pandemics and interruptions to air traffic
>>technology, such as computer network failures and problems associated

with using outdated equipment
>>regulatory and government policy changes, such as water restrictions,

quarantine restrictions, carbon emission restrictions and tax
>>environmental, such as climate change, chemical spills and pollution
>>work health and safety, such as accidents caused by materials, equipment,

or location of your work
>>property and equipment, such as damage from natural disasters, burst

water pipes, robbery and vandalism
>>security, such as theft, fraud, loss of intellectual property, terrorism,

extortion and online security and fraud
>>economic and financial, such as global financial events, interest rate

increases, cash flow shortages, customers not paying, rapid growth and
rising costs

QUESTION 3
When entrepreneurs seek financing, financial institutions often require a

business plan before making decision. Why?
ANSWER
A business plan is a written document which described the proposed

business or project to be undertaken in a comprehensive manner. It is
also known as a working paper, business proposal, project paper or
prospectus.
Reasons For Preparing a Business Plan :
1. Opportunity for entrepreneur to assess the business

venture objectively, critically and practically.
2. To study and evaluate the feasibility of the business.
3. To convince venture capitalists, investors and bankers in

order to raise capital and obtain support for the venture.
4. As a guideline for day-to-day management of the business.
5. To be able to distribute business resources more effectively.

QUESTION 4
Explain five important factors in product packaging.
ANSWER
1.It Differentiates Your Brand From Others
2.Packaging Color Sways Consumer Purchase Habits
3.Product Packaging Is a Marketing Tool
4.Packaging Creates Brand Recognition
5.Promotion

QUESTION 5
List and discuss the factors affecting pricing.
ANSWER
1. Competition:
While fixing the price of the product, the firm needs to study the degree of
competition in the market. If there is high competition, the prices may be kept
low to effectively face the competition, and if competition is low, the prices
may be kept high.
2. Consumers:
The marketer should consider various consumer factors while fixing the
prices. The consumer factors that must be considered includes the price
sensitivity of the buyer, purchasing power, and so on.
3. Government control:
Government rules and regulation must be considered while fixing the prices.
In certain products, government may announce administered prices, and
therefore the marketer has to consider such regulation while fixing the prices.
4. Economic conditions:
The marketer may also have to consider the economic condition prevailing in
the market while fixing the prices. At the time of recession, the consumer may
have less money to spend, so the marketer may reduce the prices in order to
influence the buying decision of the consumers.
5. Channel intermediaries:
The marketer must consider a number of channel intermediaries and their

expectations. The longer the chain of intermediaries, the higher would be the
prices of the goods.

REFERENCES
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1013&context=etd_
coll
www.investopedia.com/terms/b/businessrisk.asp
http://smallbusiness.chron.com/importance-product-packaging-
marketing-648.html
Jackson, D. S., John S. Demott, and Allen Pusey, Dirty Tricks in Dallas, Time,
March 7, 1983, http://www.time.com/time/magazine/article/0,9171,953755,00.
html (accessed December 15, 2009).


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ENTREPRENEURSHIP

NAME : MOHD HADRI ARIF BIN SABAIN

CODE : KFS 3122

LECTURER : MR. MUHAMAD RODZI BIN CHE ROSE

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

In order of importance, list your own list of entrepreneurial competencies(at

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

Define business risks, give examples

Business risk is the possibility a company will have lower than

>>natural disasters, such as floods, storms, bushfires and drought

>>pandemic, such as human influenza, swine flu or bird flu

>>legal, such as insurance issues, resolving disputes, contractual breaches,

>>technology, such as computer network failures and problems associated

>>regulatory and government policy changes, such as water restrictions,

>>environmental, such as climate change, chemical spills and pollution

>>work health and safety, such as accidents caused by materials, equipment,

>>property and equipment, such as damage from natural disasters, burst

>>security, such as theft, fraud, loss of intellectual property, terrorism,

>>economic and financial, such as global financial events, interest rate

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

When entrepreneurs seek financing, financial institutions often require a

A business plan is a written document which described the proposed

Reasons For Preparing a Business Plan :

1. Opportunity for entrepreneur to assess the business

2. To study and evaluate the feasibility of the business.

3. To convince venture capitalists, investors and bankers in

4. As a guideline for day-to-day management of the business.

5. To be able to distribute business resources more effectively.

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

Explain five important factors in product packaging.

1.It Differentiates Your Brand From Others

2.Packaging Color Sways Consumer Purchase Habits

3.Product Packaging Is a Marketing Tool

4.Packaging Creates Brand Recognition

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

List and discuss the factors affecting pricing.

The marketer must consider a number of channel intermediaries and their

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

JABATAN KEJURUTERAAN MEKANIKAL, UNIVERSITI SELANGOR

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