1. BẢNG ĐÁNH GIÁ THÀNH VIÊN
TRONG QUÁ TRÌNH THẢO LUẬN NHÓM
Nhóm: 4
Môn: Tiếng Anh 3
Lớp học phần: 1401ENTH1611
STT Họ và tên Nhận xét
1 Giang Thị Bích Ngọc A
2 Trần Thảo Nguyệt A
3 Trần Thị Ngọc A
4 Đỗ Thị Ngân A
5 Đỗ Thị Kim Ngân A
6 Nguyễn Thị Ninh A
7 Nguyễn Thị Nguyên A
2. Outline
Introduction
1. Market and market demand
2. Finance/capital
3. Knowledge/expertise
4. Competition
5. Location
6. Law and rules
7. Staff/man power
Conclusion
3. Many people see starting a business as something that they will never
be able to do because of finances, interest or knowledge …However more
and more people are beginning to open their minds to new business
ventures. It seems like it is popular move. By opening a business there
could be huge profit to be made. On the other hand, there are some risks
and losses that may occur so you should consider carefully before setting
up a new business. It requires hard work from the business founders and
presidents. This paper will talk about the general things which need
considering before starting a new business.
1. Market and market demand.
Many companies become more and more popular and competition is
fierce. This means the idea of companies working to get money and
customers before other companies get them.
First, you need assess market demand. Assessing market demand is one
of the most important ways that businesses decide what to sell and how to
go about selling the products they produce. It will help you to develop
effective strategies to promote and sell your product to as many potential
customers as possible. A business should estimate what its share of the
market could be in order to assess its business potential. Once you have
analysed the entire potential market for your product, study the
competitors and their customers. Then gauge what amount of this market
you can realistically see your business capturing. Properly assessing the
market demand for a given product is very important. Failure to
accurately project the desirability of a good or service can lead to
production levels that are in excess of the number of units that will
actually be sold. As a result, the company is left with a huge inventory of
finished goods that generate no profit at all. In some cases, failing to
4. project market demand properly is enough to force a company to go out
of business.
Second - market research. The original concept is the basic ideas for
something. In designing products and services, market research -finding
out what people want - is of course very important. This may involve
questionnaires or surveys with question about what people buy and why,
perhaps with interviews in the street or by telephone. There may be
consumer panel and focus groups, where ordinary people meet to discuss
product ideas informally.
Because market demand can change over time, own companies invest
resources in constantly checking the current status of consumer wants and
needs. Keeping the interest of current customers by making
improvements to existing products and possibly introducing new products
that are also of interest to those same customers and perhaps the
researchers will make sales forecasts estimates of how many products
will be sold.
2. Finance/ capital
To start a business, if you only have good ideas and accordance of
market demand is not enough to implement your business plan, you need
to have good preparation of financial capital. What is the capital?
- Financial capital is money used by entrepreneurs and businesses to buy
what they need to make their products or provide their services to areas of
the economy where their activity is based on, such as retail, corporate,
investment banking, etc… It includes:
1. Financial assets or the financial value of assets, such as cash.
2. The factories, machinery and equipment owned by a business and used
in production.
5. Capital for a small business is simply money. It is the financing for the
small business or the money used to operate and buy assets. Should very
small businesses even worry about their cost of capital? The answer to
that is absolutely yes! Even very small businesses need money to operate
and that money is going to cost something. Companies want that cost to
be as low as possible.
Why is Capital Important?
In order to build new plants, buy new equipment, develop new
products, and upgrade information technology, businesses have to have
money or capital. For every decision like this, a business owner or Chief
Financial Officer (CFO) has to decide if the return on the investment is
greater than the cost of capital or the cost of the money it takes to invest
in the project. Business owners do not usually invest in new projects
unless the return on the capital they invest in these projects is greater than
or at least equal to the cost of the capital they have to use to finance these
projects. Cost of capital is the key to all business decisions.
How do you prepare the capital?
To estimate the amount of capital needed to start a business, business
owners must check the market and plan as detailed as possible. Then
calculate an appropriate number. In addition to raising capital from
relatives, friends, you can seek financing from collaborators, partners and
customers in many different ways. You also have to consider alternatives
to bank loans. The terms and conditions for borrowing funds will need to
be studied such as the cost of borrowing, security required, rate of interest
and the repayment terms. The owner will need to approach a number of
banks to get information about their terms of lending and draw a
comparative analysis to identify which funding is the most beneficial for
him.
3. Knowledge/expertise
6. If you want a company, you need to have extensive knowledge of all
areas such as markets, finance, funding, legal issues ... understanding of
the social movements so that you can timely resolution of issues that may
impact your company. Also you need to have good communication skills
which will help you a lot in finding business partners, investor…
Experience life as a condition to help you grow. Once you solve the job
is when you integrate yourself more experience accumulated over the
course of your study, work. Working style is also important to help your
company create. Whose nimble style, vivacious, open, sociable will be
more successful than people with poor behavior.
4. Competition
When starting a new business, we have many things to do and think.
One of them, the completion is always happened. We can’t avoid it. The
question which needs to be answered is “What is unique about the
product / service which will be offered to survive the market
competition”? Information such as who are the competitors, what is their
market strategy and what factors are required to compete with them are
important. You need to reduce the completion, here are some suggestion:
First, You must find the companies which have the same products with
your company and you should focus on the large companies or the top
companies of strength.
Second, find the quality of products which those companies provide. You
should find the price of goods then you compare between your company
and the others to raise a good price.
Third, don’t forget the communication. It is very important to give our
products to customer’s hand. You should focus on marketing. It will
bring you the good opinions of customer.
5. Location
A good location goes a long way in making the business successful.
7. The location needs to be carefully chosen. Some places have advantages
over the others. You can save out on taxes, water and electricity costs if
you are located in some areas. The raw materials can be easily sourced,
the manpower would be easily available and you can save out on
transportation costs in case of certain locations. Setting up a business in
certain location could lead to subsidy and rebates from the Government.
In the case of a retail business one needs to be located in a well-populated
area and one which is easily accessible. Certain niche products / services
of different competitors are available at a single location.
6. Law, rules on setting up a new business.
We know that to participate in the relations the enterprises need the
compulsory rules which help the government supervise them better:
First, they must be established lawfully. It means they need the legal
business license and business registration.
Second, they have a well-organized structure and possessing property
independent from that of individuals, organizations. They must bear own
liability with such property.
In the end, they independently enter into legal relations in own name.
7. Staff- human power
Human resource is one of the most important problems that the founder
needs to concern about when starting their own business. Therefore,
preparing human resources is essential. First, we make a list of necessary
departments and estimate the suitable numbers of employees. Second, we
give technical requirements to each position. Final, we employ
disciplined people, train professional employees and give them
advantages working environment to develop their abilities so that the
effect of work will improve.
8. In conclusion, there are many things which need considering before
setting up a new business, but in our opinion, there are seven important
factors that mentioned. We hope this paper will help you in the future
when you have ideals to open a new business.
TÀI LIỆU THAM KHẢO
http://bizfinance.about.com/od/startyourownbusiness/a/How_to_Start_a_
New_Business.htm
https://www.gov.uk/set-up-business-uk/overview
http://www.moneysupermarket.com/c/news/top-tips-for-setting-up-your-own-
business/0012363/
http://www.thisismoney.co.uk/money/smallbusiness/article-1583963/A-guide-
setting-business-starting-company.html
http://www.yourzenlife.com/post/10-key-factors-in-starting-your-own-business
http://www.smallbusinessbc.ca/starting-a-business/understanding-your-competition
http://www.careerbuilder.com/Jobs/Company/C8C3316B6PXVWV26W
SN/Staff-Management/
http://www.slideshare.net/RonRomero_LSG/10-important-factors-to-consider-
before-starting-your
http://www.bls.gov/ooh/management/financial-managers.htm
