Date post: | 21-Oct-2014 |
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Business Kit Manual Trainingfor Advisors
Prepared by: Mohamad Fadhilullah @Bobby
Brunei Entrepreneurship Education Scheme 2
Table of Contents
• Achievers Guide• Part A: Setting the Scene• Part B: Running a BEES Company• Appendices
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Brunei Entrepreneurship Education Scheme 3
Achievers’ Guide
• Introduction to BEES• Company Concepts• Sequence of Events• Shares• Regular Meetings• Liquidation
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Brunei Entrepreneurship Education Scheme 4
Introduction to BEES
• Purpose of BEES• The role of BEES Advisers• The Business Kit
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Brunei Entrepreneurship Education Scheme 5
Purpose of BEES
• Providing Practical Experience to learn business
• Understand business process• Principles of Business• Self Discovery• Teamwork• Build Enterprising attitudes and
mindsets
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Roles of BEES Adviser
• Counsel and Guide• NOT to Lead and Direct• Allow Achievers to make mistakes• NOT to solve it for them
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The Business Kit
• Contains Forms and Documentation• To ensure smooth running of BEES• IT is a Guideline
IF it doesn’t FIT, improvise
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Company Concepts (ACH 2)
• Legal Structure– Sole Proprietor– Partnership– Cooperatives– Sendirian Berhad / Private Limited
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BEES Company Company Structure (ACH4)
Shareholders
Board of Directors
Managing Director /
CEO
Secretary Finance Production Sales and Marketing
Human Resource
Research and Development
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Sequence of Events (ACH9 and B-15)
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• Initial meeting with advisers– Formulate objectives– Consider possible products and
company name– Decide regular meeting time and
location– Discuss capitalization – Issue share books
Week 1
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• First General Meeting– Decide on company name– Select product(s)– Elect Chairman/Managing Director and
remain executive directors– Organize executives to carry out Market
Research– Administration – complete company
registration documents and opening bank account
Week 2
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Brunei Entrepreneurship Education Scheme 13
• Decide product prototype, production plan, target market, pricing, agree salaries
• Administration – documents to be completed and sent to BEES secretariat • e.g. Memorandum and articles, company
registration, list of machinery or tools, advisers record, tenancy agreement, etc
Week 3
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• Business Plan • Health and Safety at work• Agenda for first board meeting to
be discussed • Notice of board meeting is posted on
Notice board • Sales of Shares• Production Starts
Week 4
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• First Board Meeting• Copy of memorandum and articles of
association and certificate of incorporation posted on notice board.
• Trading Commences
Week 5
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• Opening Meeting• Administration and production • Shop Floor Work • Closing meeting
Week 6 till Week 15
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• Board Meetings• Monthly management information
Monthly
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• Board Meeting• Date set for Winding Up• Run Down of Stocks Planned• Liquidation Procedure Initiated
Week 16
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• Disposal of Fixed Assets• Disposal of raw materials, stocks &
work in progress completed• Stocks of Finished Goods Cleared
Week 17
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• Reports to shareholders & final account drawn up
• Liquidation report Issued• Discussion of disposal of trading
surplus (if any)
Week 18
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• Declaration of Dividends• Allocation of dividends to share
holders• Taxes and Zakat Paid• Reports & Accounts adopted and
circulated to members• Letters of Appreciation
Week 19
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• Bank Account close• Final General Meeting• BEES ends
Week 20
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Shares
• Price of Shares is $2.00 each• Max authorize capital is $1,000• Each achiever must be a
shareholder• Maximum Shares per person is 25
Shares
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Regular Routines
• Weekly Meetings• Short opening and closing– Opening – check and update plan,
coordinate admin and production– Closing – to consider work completed
and compare with original plan
• Monthly meeting – to formally receive progress.
• Half year board meeting16-Apr-13
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Possible Operational Problems
• Cash flow or lack of it• Overtrading
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To avoid problems
• Do not take on business that will stretch resources
• Try and obtain credit from suppliers of raw materials
• Establish the credit worthiness or prospective customers
• “Just in Time” vs “Just in Case”• Do not rely on one major customer
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Liquidation
• Set Date• Agreement• Section directors draft
report• Remaining Assets to
dispose• Outstanding invoices
& customers• Final payments of
salaries and commission
• Accountant produce Profit & Loss
• BOD discuss bonus and returns
• Close account• Letters of appreciation
to advisers/teachers, assistance
• Review experience and Lessons learnt
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Final meeting
• Invite all participants and shareholders
• Review the experience gained• Discuss the Many Lessons Learned
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Part A: Setting the Scene
Guidelines for Achievers
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Functions, Roles and Responsibilities <a-8>
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Board of Directors <A-9>
• Set Targets, plans and timescales• Agree staffing and resources• Communication and Coordination• Determines financial returns– Remuneration to employees– Dividends to shareholders
• Maximized profits, minimize costs• Devise effective organizational
structure16-Apr-13
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Managing Director/ Chairman <A-10>
• Elected by the Board• May be the same or separate• MD ensures that investment of
shareholders• Ensure resources are allocated
effectively• Bear the ultimate responsibility for
company activities
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Company Secretary <A-11>
• Memorandum and articles of association
• Legal compliance• Keep company records• Agenda and Meeting notices• Formal minutes of meetings• communication
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Finance Director/ Accountant <A-14>
• Record financial data• Report financial information• Budgeting and Control• Costing, break even and pricing• Workout Example <A-25>
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Human Resource Director <A-34>
• Keep Records of employees• Recruiting and training staff• Health, Safety, and Security• Recognizing and Dealing with
personal factors
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Production Director <A-38>
• Organize to provide goods or services
• Product design and engineering• Stock and inventory• Quality control• Training and Safety• Industrial employee relations
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Marketing Director<a-36>
• Market Research• Feedback on improvement for
products and services• Discuss distribution methods• Forecast sales• Works with sales teams
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Sales Director <A-41>
• Locate and sell to customers• Plan and implement sales targets• Sales training• Stock control• Promotion and advertising• After sales service
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Part B: Running the BEES Company
• Initial Meeting• First General Meeting• Company notice board• Agenda for first General meeting• Share books• Payment of Registration fee• Business plan
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Initial Meeting (informal)
• Advisers start the meeting (assign a temporary secretary)– Introduces BEES, themselves, their roles– Ask achievers to introduce themselves, interests and
aspiration– Decide the time and day for weekly meetings,
location of notice board– Discuss role of business within economy– Discuss organization roles and responsibilities– Ask achievers to share their strengths and
weaknesses, role,– Discuss business name, products and objectives,
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First General Meeting (Adviser) <Part B-2>
• Elect a chairman who will be appointed MD– Not necessarily the most popular or the most
willing
• Identify the most suitable person for their post• All members may nominate themselves• Contested positions may present themselves
before casting of votes• Once all positions are filled, post it on
company notice board• HANDOVER meeting to NEW CHAIRMAN
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First General Meeting (Achievers Chairman )
• Officially elect the Company secretary• Officially appoint the executives– Finance, production, marketing, sales, r&d,
HR, etc– Total and position is up to achievers– Assistants to positions may be appointed
• Discuss– Business Plan (market, products,
operations)– Shares
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The Company Notice Board <Part B-4>
• Discussed as early as possible• Should be prominent, seen by all
interested parties• Posted– a copy of “Rules of Procedures at
Meetings” – A copy of completed “memorandum and
articles of association”
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Share Books <Part B-5>
• Read rules and regulation in appendix 1
• WEAR achiever card when selling shares
• Secretary maintain record on form sec/5
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Payment of company registration fee<Part B-6>
• Registration fee is $10 and payable to the BEES secretariat upon submission of the Articles of Association
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Regular Routines <B-9>
• Weekly meetings• Company Diary of events• Opening meeting• Production and administration• Formal control and reporting
mechanisms
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Possible format of meetings
• Chairman calls meeting to order• Secretary records the names of those present• Secretary reads minutes of previous meetings.
Chairman asks those present to confirm they are true. Chairman signs.
• Chairman asks for other matters. Followed by immediate discussion, and decision; or to be discussed later.
• Various BRIEF reports are presented or discussed. Chairman invites Q n A.
• Chairman Enquires any other business which requires attention
• Meeting adjourned
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BRIEF Reports
• MD makes general statement• Financial Report from Accountant• Sales achievement from Sales and
Marketing Manager• Production achievement from
Production Manager• Other Reports– Achiever attendance, motivation, safety,
and disputes16-Apr-13
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Half year board meeting
• Special board meeting• May be done in may• To deal with – Resignation of all executives– The election of new executives
• All are eligible for election to the various executive positions.
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Closing down the company
• Initial liquidation• Intermediate procedures• Closing liquidation procedures
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Appendices
• Appendix 1 – Rules and Regulations• Appendix 2 – Banking Procedures
<not discussed in-depth>• Appendix 3 – Rules and Procedures• Appendix 4 – BEES Convention • Appendix 5 – The Business plan
Template
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• General• Health & Safety• Membership• Board of Directors and Meetings• General Meetings• Financial• Miscellaneous • Banking procedures
Appendix 1 – Rules and Regulations
<Part C>
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• BEES Company are registered with BEEs secretariat
• The MAA do Not have legal force, but must be treated as formal documents, may be amended by 2/3 votes
• Shares must be limited to friends and acquaintances
• School work must always come first
General
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• Advised to wear old and sensible clothes for production purpose
• Insurance may be invalidated if found negligient
• Know location of telephones and first aid kits
• List any tools and equipment used in manufacturing
• Not recommended to produce fresh food stuffs or resell unbranded goods for consumption
Health and Safety
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• Limited to active participants• Should be Between 13 and 16 yrs.• Full-time students of the school• Each achiever MUST own at least 1 share, but no
more than 25.• Absence of 3 successive meetings shall
automatically forfeit membership and board directorship
• Any member may be dismissed by 2/3 votes• Each shareholder is entitled to 1 Vote• Achievers with Minimum attendance of 80% are
given certificates.
Membership
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• Quorum is ½ of board• Board meetings shall be held monthly• Special meetings may be called by
chairman or at least 3 directors• Executives are elected during initiation
and at mid-term• Decision of board are made by a
majority vote• Chairman is tie breaker
Board of Directors and board meetings
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• Failure to repay share capital reverts to education charity
• Salary can be paid by hourly, daily, or attendance rate basis which is decided by board of directors
• Liquidation report must be drawn at the end of period
• Corporation tax and zakat is sent to bees• Surpluses may be distributed as dividends• Proportion of profit allocated to Dividends
SHOULD be limited to 25%.
Financial
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• The word “Sdn Bhd” must not appear in company name. Instead use “a BEES Company”
• Regular meeting date and location must be establish
• Business should not commence until registration is completed
• Do not infringe any local laws• If any equipment is hired, a reasonable charge
must be levied for its use• If doubt exists, contact BEES secretariat
Miscellaneous
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• Currently no procedures• Teacher in Charge is the Bank• Opening accounts• Closing the Accounts
Appendix 2 – Banking Procedures
<C-6>
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• All business activities controlled by the the elected Board
• Company Secretary must put a notice of meeting 5 days before it is to take place
• All meetings should take place during regular scheduled hours <except for special meetings>
• Chairman is responsible of orderly conduct of meetings,
• Secretary will record names of present and take minutes
Appendix 3 – Rules of Procedures of Meetings
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• MUST include following items–Minutes of last meeting–Matters arising– Reports of Directors– Any other urgent Business– Decision on matters shall be decided by
majority present, Chairman is the tie breaker
Agenda of Board Meetings <C-8)
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• Company Annual Report– Reports form executive directors– Final Profit and Loss Account, Balance
Sheet and Liquidation Report
• Lessons learnt– What could have been done differently– What would happen in the future
• Organization Chart• Report submitted to BEES Secretariat
Appendix 4 – BEES Convention
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• Products and Service• Market Research• Market Strategy• Organization • Operations• Financials
Appendix 5 – Business Plan <C-12>
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