UNIT 1 INTRODUCTION TO CYBERPRENEUSHIP Notes By Farihan

UNIT 1 INTRODUCTION TO CYBERPRENEUSHIP Notes By : Farihan Elyana Bt Zahari

LESSON LEARNING OUTCOME: 1. Define the meaning of cyberpreneurship 2. Identify the difference between conventional entrepreneur and cyberpreneur. 3. Identify sources of entrepreneurial ideas. 4. Determine entrepreneurial ideas. 5. List characteristic of successful cyberpreneur 6. Describe the current and future challenges and opportunities of cyber business 7. Identify business opportunities in a given scenario Notes By : Farihan Elyana Bt Zahari

What is Cyberpreneurship ? • Cyberpreneur ØGenerally is an entrepreneurs who make money by selling product through the Internet. • Cyberpreneurship ØIn this case the entrepreneur to do promotions using electronic brochure which is known as copywriting. Sales of products and services on the Internet. Copywriting ? ? Notes By : Farihan Elyana Bt Zahari

• What is cyberpreneur? • -combination of the words “cyber” and “enterpreneur”. • -meaning has 2 : - 1) an enterpreneur who has online based bussiness on the internet that targets international consumers. 2) is someone starting or running a bussiness in cyberspace and the internet. • What is enterpreneur? • -is any person who starts a bussiness enterprise with the intent on seeing it become successfull and working towards that end. • What is cyberpreneurship? • -varies from organization which merely promotes itself by using an electronic brochure called a home page on the internet, to companies and organizations which sell their products and services through the use of electronic mail (email) on the internet. • Technopreneurs? • -Technopreneurs are entrepreneurs who are into the core businesses involving technology-based industries. They make use of technology to come out with new or innovative products through a process of commercialization. Notes By : Farihan Elyana Bt Zahari

Conventional Entrepreneur vs Cyberpreneurship Notes By : Farihan Elyana Bt Zahari

Sources of entrepreneurial ideas a) primary sources refer to first-hand data or information gathered directly through : ~ observations. ~ experiments. ~ interviews. ~ surveys. Notes By : Farihan Elyana Bt Zahari

Sources of entrepreneurial ideas b) Secondary source involved gathering data that have already been compiled and are available. it is initially conducted for one purpose using existing data which is : ~ reliable ~ available references ~ mass media and electronic media although secondary source relatively inexpensive, they often become outdated and outmoded, given that they are used for a purpose other than for which was intended. Reliable existing data - can be used by entrepreneur is existing data which is reliable. - example : information obtained from annual report of companies. Reference - an entrepreneur can use reference such as publish information from then library, internet and so on. Mass media and electronic media - advertisement and information in the newspaper, magazines and internet. Information on raw materials can be a business opportunity for an entrepreneur. Notes By : Farihan Elyana Bt Zahari

How to get idea in business ? a) Recognizing customer needs and wants c) Performing self-assessment b) Analysing or scanning the environment demographics, population structure, income, and taste Study on local resouces New government policies and regulations Import and export data e) Matching societal values, community’s response or people’s acceptance Industrial linkage Development projects by the public and private sectors Technological breakthrough d) Screening or choosing business opportunities f) Preparing or constructing a business plan Experience Competition Knowledge Legality Skills Fixed capital requirement, working, capital and growth opportunities Financial ability Interest Mass media and electronic media Networking Notes By : Farihan Elyana Bt Zahari Business risk, financial risk such as credit, cash liquidy, loan and currency exchange

Characteristics of Successful Cyberpreneurship Seeking Feedback Internal focus of control Committed Opportunity Orientation Initiative & Responsibility Confidence & optimistic Moderate risk taker Flexible Characteristics of Successful Cyberpreneurship Energetic knowledge Independent & an organizer Ability to set vision Creative & Innovative Drive to achieve Tolerance for failure Notes By : Farihan Elyana Bt Zahari

Challenges of cyber business Keeping up with the market Planning ahead Problem solving Cash flow and financial management Right system Skill and attitude Notes By : Farihan Elyana Bt Zahari

APPROACHES TO SEEKING A BUSINESS IDEA • There are several approaches of seeking business ideas q. Fulfilling needs and interests q. Analysing life problems q. Diversifying q. Observing q. Using the usage of goods changes in the community the latest technology q. Observing and establishing a network Notes By : Farihan Elyana Bt Zahari

Discuss in group • Type of business you will involve. Explain detail about product. Need to pesent in next class Notes By : Farihan Elyana Bt Zahari