Scribd
Upload
326 views

Cambodian Mekong University: Understanding Business Assignment

This document contains an assignment from Cambodian Mekong University on understanding business. It includes an introduction to business concepts as well as research on key terms, entrepreneurship, reasons for business failure, business plans, management skills, employee motivation, and product uniqueness. The assignment was presented by 7 group members and covered topics such as definitions of business, why study business, features and objectives of business, and common business roles. It also defined 5 key terms, discussed entrepreneurship and success factors, major reasons for business failure, elements of a business plan, important business management skills, and techniques for making products unique.

Uploaded by

Ali GM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
326 views

Cambodian Mekong University: Understanding Business Assignment

This document contains an assignment from Cambodian Mekong University on understanding business. It includes an introduction to business concepts as well as research on key terms, entrepreneurship, reasons for business failure, business plans, management skills, employee motivation, and product uniqueness. The assignment was presented by 7 group members and covered topics such as definitions of business, why study business, features and objectives of business, and common business roles. It also defined 5 key terms, discussed entrepreneurship and success factors, major reasons for business failure, elements of a business plan, important business management skills, and techniques for making products unique.

Uploaded by

Ali GM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 19

CAMBODIAN MEKONG UNIVERSITY

Is the university that cares for the value ofeducation

Understanding Business
Assignment
Lecturer: Mr. Heng Norovong
Presentation Date: 20th April 2019
Group Members
1. Em Chanraksmey ID: 1257160701
2. Heng Narykanika ID: 1257160607
3. Sous Sokheng ID: 1256170423
4. Hoem Sodaly ID: 1257160403
5. Chhay Phearom ID: 1257160312
6. Mom Sokvisal ID: 1256160276
7. Ann Kheng ID:
Contents
Part 1: Introduction Part 2: Concepts & Research
1.1 Overview of business 2.1 5 key terms (chapter 1-10)
1.2 Definitions of business 2.2 Entrepreneurship & success
1.3 Why study business? 2.3 Major reasons for business
1.4 Features of business failure
1.5 Objectives of business 2.4 Business plan & elements
1.6 People in business 2.5 Business management and
skills
2.6 Employee motivation
2.7 What makes a product unique?
1.1 Overview of business
• Cambodia has attained lower middle-income status with gross
national income (GNI) per capita reaching US$1,230 in 2017
• Driven by garment exports and tourism, Cambodia has sustained
an average growth rate of 7.7% between 1995-2017, the sixth
fastest-growing economy in the world.
• According to official estimates, the poverty rate in 2014 was
13.5% compared to 47.8% in 2007
1.2 Definitions of business
• An organization or economic system where goods and services
are exchanged for one another or for money.
• A person's regular occupation, profession, or trade.
• A business is defined as an organization or enterprising entity
engaged in commercial, industrial, or professional activities
1.3 Why study business?
• Business includes those in the scientific, medical, education
and government sectors, along with those who are simply
consumers of products and services
• Becoming knowledgeable about how businesses operate helps
everyone understand how the engine that drives the world's
economies works
1.4 Features of business
o There are five broad feature of business:
• Dealings in goods and services
• Production and exchange
• Continuity and regularity in dealings
• Profit motive
• Element of risk
1.5 Objectives of business
 Economic objectives  Social objectives
— Profit Earning — Providing Goods & Services
— Market Share / Creation of at Reasonable Prices
Customers — Employment Generation
— Increasing Productivity — Fair Remuneration to
Employees
1.6 People in business
— Administrator Officer (CEO) — Controller
— Agent — Chief Financial — Chief Operating
— Ambassador Officer (CFO) Officer
— Baron — Chairman — Coordinator
— Boss — Chairperson — Dealer
— Businessman — Chairwoman — Dealmaker
— Businessperson — Change agent — Deputy
— Businesswoman — Chief — Developer
— Capitalist — Chief executive
— Chief Executive — Company man
1.6 People in business (Cont.)
— Director-general — interlocutor — Proprietor
— Director — Line manager — Road manager
— Entrepreneur — Magnate — Social
— Executive — Manager entrepreneur
— Executive — Managing — Stakeholder
director director — Supervisor
— Executive officer — Middleman — Trade
— Executive — Officer
secretary — Ombudsman
— Foreman — Operator
— Industrialist — Product owner
2.1 5 key terms (chapter 1-10)
— Ethics: are beliefs about what’s right and wrong or good and
bad.
— Business Ethics: is a term often used to refer to ethical or
unethical behavior by employees in the context of their job.
— Unethical Behavior: is a behavior that conforms to
individual beliefs and social norms about what is defined as
wrong and bad.
— Ethical Behavior: is a behavior that conforms to beliefs and
social norm about what’s right and good.
— Managerial Ethics: standard of behavior that guide
individual managers their work.
2.2 Entrepreneurship & success
• Entrepreneurship is the process of seeking business
opportunities under condition of risk.
• Entrepreneurship is the act of creating a business or businesses
while building and scaling it to generate a profit. (Nicole, 2018)
• An entrepreneur is a person who sets up a business with the aim
to make a profit (Nicole, 2018)
2.2 Entrepreneurship & success
o An important of entrepreneurship
― Entrepreneurs create jobs
― Entrepreneurs create change
― Entrepreneurs give to society

o How to make an entrepreneurship success


— Hard work, drive, and education
— Market demand for the products or services being provided.
— Managerial competence
— Luck
2.3 Major reasons for business failure
• Managerial incompetence or inexperience
• Neglect. Some entrepreneurs try to launch ventures in their spare
time, another devote only limited time to new businesses.
• Weak control systems.
• Insufficient capital. Some entrepreneurs are overly optimistic
about how soon they'll start earning profits
2.4 Business plan & elements
• Business Plan is an internal document that lays out the overall
strategy and marketing plan for a business, an initial business start-
up plan or a proposal for one-off projects.
• Business Elements
o Value Proposition o Key Activities
o Customer Segments o Key Resources
o Channels o Key Partners
o Customer Relationships o Revenue Streams
o Cost Structure
2.5 Business management and skills
• Business Management is a management of the resources
available to a business is crucial to its survival and growth.
• Business skills
o Delegation Skills o Analytical Skills
o Communication Skills o Sales and Marketing Skills
o Negotiation Skills o General Management Skills
o Strategic Planning o Cash flow Management Skills
o Leadership Skills o Financial Management Skills
o Team Building Skills o Time Management Skills
2.6 Employee motivation
• Invest your time and effort with them
• Share responsibilities and empower
• Seek employee
• Treat your employees like your partner
• Provide incentives
• Use good communication
• Put your promise into action
2.7 What makes a product unique?
 4 crucial generations of product development are
— Invention and Commercialization Generation (1890-1950)
— Project Success Generation (1950-1980)
— Time-To-Market-Generation (1980-2000)
— Research & Development Productivity Generation (2000-2020)
 There are techniques of creating special
— Quality
— Low-cost
— Flexibility
— Dependability
Questions & Answers

Thank

for

your

attentions!

You might also like