2^ND WIEF GRADUATES ENTREPRENEURSHIP TRAINING

The 2^nd WIEF Graduates Entrepreneurship Training was a basic entrepreneurship programme targeted at young graduates who would like to learn about business and entrepreneurship.  This 4-day practical training programme showed how you could start and run a successful small business. It taught you the fundamentals of successful business startups and how to run it.

At the end of the programme, participants gained a great deal of insight and exposure on the real scenarios of entrepreneurship and consider business and entrepreneurship as an alternative career path that would offer you greater job satisfaction as well as economic success.

The Course was taught through:

1.    A series of mini lectures and exercises
2.    Group roundtable discussions and experience sharing
3.    Project Planning / Business Plan Project
4.    A “Bring Your Own Case” experiential workgroup.

OBJECTIVES OF THE COURSE

1.    Clear some misconceptions about going into business.
2.    Learn the truths behind the many business myths.
3.    Open your mind to some not normally thought of business ideas and opportunities.
4.    Get tips on choosing a business to get into & starting your business right to enhance its success.
5.    And make new friends who may be your future business partners / associates / customers.

WHO ATTENDED?

This Workshop was designed for:
1.    Young graduates who wish to be entrepreneurs.
2.    Young entrepreneurs who have just started their business less than a year.
3.    Young entrepreneurs who are in the business between 1 – 3 years.
4.    Masters & PhD students in Entrepreneurship

The participation of young graduates from neighbouring countries at the Course were an added advantage as transnational networking:

1.    Helped participants understand the business culture in other countries.
2.    Provided a powerful stimulant for contacts and collaboration.
3.    Promoted multicultural interactions and awareness of cross-cultural perspective which would stimulate creativity and innovation in business, and
4.    Helped facilitate cross-border and cross-industry partnerships amongst them.

DURATION
4 days

LANGUAGE
English

The Business Plan Project

The participants form groups of five (5) that will each identify a new venture or an existing venture, which the group chose and developed a comprehensive Business Plan for.

The Business Plan Project will provided an excellent opportunity for the participants to use their creativity, to encourage them to “think business,” while reinforcing the many learning outcomes of the other training courses of the programme.

Session 1 – BYOB – The Entrepreneurial Revolution – An Attractive Option

The entrepreneurial revolution
Going into business – why you should seriously consider it
Understanding what doing business is all about – clearing some misconceptions and myths
Do I have what it takes to go into business?
Going into business – some models
Session 2 – Looking For A Business – Some Models

Looking for business ideas
From ideas to opportunities
A product looking for a market, A market looking for a product
Looking for a business – some other approaches
Readymade businesses
Session 3 – Creativity & Innovation – The Key To Success

Creativity and innovation – the key to success
Creativity – 2 perspectives
Creativity and innovation – in the context of business – its contribution to the financial performance of the company
Creativity / innovation and technology – incremental to disruptive innovation – from evolutionary to revolutionary
Session 4 – Reaching My Customers – Know Exactly What I Am Selling

Knowing exactly what I am selling
Knowing who my customers are and what they are looking for when they buy
Making the 4 Ps work
Reaching my customers
Connecting with customers online
Session 5 – Networking For Business Success

Networking – why it is the number one business building tool today
The networking process
creating / building the network
maintaining the network
using the network
Session 6 – Money Matters – Needs and Sources

Knowing the financing needs of my business – minimising the financing needs
Importance of keeping financial records
Working out some projections
Some sources of financing for the business
Session 7 – Putting It Together – Developing The Business Plan

Need for / importance of planning
Principles and processes of business planning – some useful tools
Components of a good business plan
Developing my business plan
Presentation of business plan

Lim Chow Tiong (CT), an associate of SBF Group Of Consulting Companies, has more than 35 years of working experience comprising of 12 years in financial institutions and 23 years in Multinational Companies (MNCs) manufacturing electronics and medical devices.

He held various finance portfolios that covered retail to corporate banking prior to joining the manufacturing sector. His involvement with MNCs centered on Supply Chain Management with him holding Site, Regional and Global Procurement roles.  He was also seconded to APAC Legal as a Contracts Manager and to the US as a Purchasing Lead Manager.  Also, held the position of Head of Asia Pacific Purchasing for an established German medical device company.

In the course of his work he has had the opportunities to attend numerous conferences, seminars and trainings in Asia, Europe and US.  He has taught and continues to teach within and outside the company varied courses that further strengthen the competencies of the workforce in Supply Chain Management. Such courses include Effective Negotiations, Strategic Sourcing, Risk Management, Effective Communication, Management and Leadership, Business Ethics and Code of Conduct, and Stakeholder Engagement. He had also presented a working paper on building linkages for SME development at an UNCTAD workshop.

He is extremely passionate in training young potential entrepreneurs in the areas of Management and Leadership and Supply Chain Management. Hence he constantly avails himself to share, train and discuss the various facets of Supplier Line Operations and People Development with BA/MBA students at NUS, SMU and private colleges. Currently he is an adjunct lecturer for a British MBA program on Business Ethics and Law.

He holds a graduate diploma in Business Administration and a MBA from the Entrepreneurship Institute of Australia (EIA).