Chapter 15 Guidelines For Business Practicum

Fundamentals of Entrepreneurship All Rights Reserved
Oxford Fajar Sdn. Bhd. (008974-T), 2013 1 1

CHAPTER 15
GUIDELINES FOR BUSINESS PRACTICUM

Objectives
Through business practicum, students are

expected to learn the practical aspect of the whole
business process from identifying business project,
preparation of business plan, mobilising resources
and implementing the business project, writing
business report and making a presentation.

Learning Outcomes
At the end of this course student would be able to:

Prepare a viable a business plan
Conduct business practical
Prepare and present a business report

Business Practicum Activities
Schedule

Guidelines for Supervisor
The main task of a supervisor is as follows:

To advise students identify the business opportunity
To advise students prepare the business plan.
To advise students conduct business practical as
planned.
To advise students to prepare the business report.
To evaluate the students performance.

Guidelines for Supervisor
The tasks can be done in three meetings between the

supervisor and the students namely:
The Pre-practical Meeting
Practical Meeting
Post-practical Meeting.
As a guideline for supervisor to award marks for
students, refer to the Evaluation Form in Appendix 2.

Guidelines for Meeting,
Presentation and Attendance

Guidelines for Meeting, Present
and Attendance (cont.)

Guidelines for Meeting, Presenta

Guidelines for Meeting, Present

Guidelines for Students
Students are requested to form their own group.

Each group should comprise of 10 to 15 students.
Each group should appoint a leader.
Group leader should form organizational positions for
everyone in the group.
Students are required to propose a business plan based on
their business idea that is feasible as shown in their
feasibility analysis.
All groups will be assigned by the supervisor the place, date
and stall number for business practicum.

Guidelines for Students
Supervisor, through the faculty will provide facilities such as

tent, table, chairs and electrical point.
Students will provide their own equipment, materials and
other necessities for their business activities.
Students are not allowed to sublet their businesses to other
party. However they may get their inventories or raw
materials from suppliers. Any negotiation between students
and suppliers are at their own discretion
Supervisor will appoint members of the faculty to be panel
to evaluate and advice students during pre-practical
presentation, business practical and post-practical
presentation.

Business Plan Format

Executive Summary
Executive summary contains highlights the

important components of the report such as the
product or products offered, duration of business
practicum, market potential, project management,
project cost and the expected returns.
In this case, product refers to both goods and
services.

Executive Summary (cont.)
Example of a Table of Contents

Executive Summary (cont.)
Background Information
Introduction
This section gives summary of the entire business
undertaken in one or two paragraphs only. Important
information in this section includes:
Name of the Company
Nature of Business
Industry Profile
Location of the Business
Date of Business Commencement
Factors in selecting the proposed business

Business Profile
This section will give details of the business.

Shareholders Profile
This section gives details of the shareholders of the

business.
This information highlights the shareholders owners
credibility to manage the business. Do provide details
information of every shareholder.
In this case, one table is prepared for every shareholder.
Some basic information includes item 1.2.1 to 1.2.11 as
shown in Table 15.4.

Guidelines For Business
Practicum
Introduction
This section briefly discusses the objective or
purpose of the business. It includes the vision,
mission and objectives laid out by the
entrepreneurs. Vision and mission statements
outline the ultimate goals of the organization
whereby the objectives will specify how they are to
be achieved.
Vision
Mission
Objectives
Practicum
Location of the Business

This section provides information on the location
of the project. The information includes:
The physical location of the project undertaken
such designated premises, type of building,
structure, condition, size and cost of the building.
The basic amenities available for the business
such as water supply, electricity and telephone
lines.

Practicum
Business Practicum: Business Practical Report

GUIDELINES FOR BUSINESS
PRACTICUM
Executive Summary
Executive summary contains highlights the important
components of the report such as the product or products
offered, duration of business practicum, market potential,
project management, project cost and the expected
returns. In this case, product refers to both goods and
services.

Practicum
Business Organization
Organization Chart
Organization Chart shows business structure according to
the departments or positions in the company. It will
demonstrate lines of authority and responsibility through
the organization.

Practicum
Marketing Plan
The Products
This section describes clearly product or products that are
offered to the customer. A viable business plan must be
able to offer product or products that are able to fulfil the
needs and wants of the target market

Practicum
Marketing Plan
The Target Market
This section identifies the customer who purchased our
product or products.

Practicum
Marketing Plan
The Market Size
This section estimates the size of potential customers in
the market who will purchase our product or products. It is
stated in terms of product units or Ringgit of sales based on
a specified period of time; such as day, a week, a month or
a year; according to the practicum period.

Practicum
Marketing Plan
The Competition
This section analyses the expected competition from other
businesses offering similar or substitute product or products
as ours. An analysis of competitors strengths and
weaknesses will enable the entrepreneur to formulate a
suitable strategy to deal with the expected competition. If
they are many competitors in the market, entrepreneurs
need to identify at least three main competitors for this
section.

Practicum
Marketing Plan
The Sales
This section estimates the expected sales to be generated
when the business is fully operational. It is normally stated
in terms of Ringgit of product or products sold during the
practicum period.

Practicum
Operations Plan
Operations Schedule
This section specifies the planned product units or
operations hours of the business. This schedule is planned
to meet the target sales as planned in the Marketing Plan
earlier. This schedule is prepared according to the duration
of the business; either on a daily, weekly or monthly basis.

Practicum
Operation Plan

Practicum
Operation Plan
Raw Materials Purchased
This section lists all the raw materials; including their
amounts and costs required to produce the desired
product or products. It is prepared according to the
operations schedule based on the duration of the
business. Raw materials planning could be done
either on a daily, weekly or monthly basis.

Practicum
Operation Plan
Raw Materials Purchased

Operation Plan
Operations Overhead
This section lists other operations expenses needed to operate
the business such as rental and utility bills.

Practicum
Financial Plan
The Financial Plan summarizes all the financial information
planned in the administration, marketing and operations
sections of the business plan. It determines the total project
costs and how entrepreneurs plan to finance their
businesses. In addition, financial plan also determine the
viability of the business through forecasted cash flow,
income and balance sheet statements.

Practicum
Financial Plan
Project Cost
This section summarizes the entire cost needed to operate
the business comprise of all fixed assets costs, overhead
and other expenses identified in the administration,
marketing and operations plans.

Financial Plan
Project Cost

Practicum
Financial Plan
Source of Financing
This section summarizes the sources of financing for
business operations comprise of shareholders funds and
external borrowings, if any. The total source of financing
must equals total project costs.

Financial Plan
Source of Financing

Practicum
Financial Plan
The Cash Flow Statement
This statement highlights details of the cash inflow and
outflows of the business according to the duration of the
business; either on a daily, weekly or monthly basis.

Forecast Cash Flow Statement Financial
Plan

Guidelines For Business Practicum
Financial Plan
The Income Statement

Practicum
Financial Plan
The Balance Sheet

Practicum
Financial Plan
Overall Financial Performance


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Fundamentals of Entrepreneurship All Rights Reserved

Oxford Fajar Sdn. Bhd. (008974-T), 2013 1 1

Fundamentals of Entrepreneurship All Rights Reserved

Through business practicum, students are

Fundamentals of Entrepreneurship All Rights Reserved

At the end of this course student would be able to:

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

The main task of a supervisor is as follows:

Fundamentals of Entrepreneurship All Rights Reserved

The tasks can be done in three meetings between the

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Students are requested to form their own group.

Fundamentals of Entrepreneurship All Rights Reserved

Supervisor, through the faculty will provide facilities such as

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Executive summary contains highlights the

Fundamentals of Entrepreneurship All Rights Reserved

Example of a Table of Contents

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

This section will give details of the business.

Fundamentals of Entrepreneurship All Rights Reserved

This section gives details of the shareholders of the

Fundamentals of Entrepreneurship All Rights Reserved

Location of the Business

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

Fundamentals of Entrepreneurship All Rights Reserved

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