Entrepreneurship Blog

TOPIC 3  What do you understand the good concept and tools for risk management? How to manage risk as an entrepreneur? Maahir Hamdan 22/03/2024 Risk management is an important issue of entrepreneurship that entails figuring out, assessing, and mitigating capacity risks to attain long-term achievement. Entrepreneurs face various sorts of dangers, inclusive of financial, operational, strategic, criminal, and reputational dangers, that can affect their overall performance, recognition, and survival. The biggest risk is not taking any risk... In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks. (Zuckerberg, 2016) Hazard control is an essential element of entrepreneurship that includes identifying, assessing, and mitigating ability risks to acquire long-term period success. marketers face various kinds of dangers, which include monetary, operational, strategic, felony, and reputational risks, that may have an effect on their perfor...

 TOPIC 2 How to adapt the Society 5.0 and its development, include learning and developing some essential entrepreneurial skills? Maahir Hamdan 22/04/2024 Society 5.0 describes 'A human-centered society that balances economic advancement with the resolution of social problems by a system that highly integrates cyberspace and physical space ( Ivezi, 2021 ).  In the era of Society 5.0, a delicate fusion of technology and society shapes our very existence. To navigate this transformative landscape successfully, individuals must cultivate essential entrepreneurial skills. Embracing Society 5.0 involves harnessing technology’s potent force to drive innovation and foster growth.  At the heart of this adaptation lies cloud data synchronization. By leveraging cloud technology for data synchronization, individuals can streamline operations, enhance accessibility, and promote collaboration. In the dynamic landscape of Society 5.0, seamless integration between technology and society...

Risk Management  Alief Rama 12/4/2024      The concept of risk management in regards to the field of entrepreneurship is quite the hefty one as most successful entrepreneur would be required to take a degree of risk to "level up" their business. This brings me to the topic of risk management and how a good understanding of it would aid in managing risks as a future entrepreneur.          With every opportunity comes risk. The idea is that in summary, Risk is simply opportunity in the face of entrepreneurship. Without the risks taken, a company might as well halt it's grow or would do so at an extremely slow pace.  Recognizing the numerous benefits that come with establishing an awareness of market demands can make a significant difference for new entrepreneurs. On the other end of the scale, attempting to uncover possibilities without risk can provide less-than-ideal results. If you want to be a category king, you have to go where no one...

 TOPIC 1 What will be the problems you plan to solve with AI? Maahir Hamdan 12/03/2024 Artificial Intelligence (AI) holds transformative potential, reshaping our work dynamics and daily lives. By harnessing AI, we can finally address age-old challenges that have persisted throughout civilization. AI can, first and foremost, aid in lowering human mistakes. Even if we would prefer to believe that we are perfect, humans are fallible. In domains such as finance, medicine, and engineering, minor mistakes can yield noteworthy outcomes. AI can reduce this risk by producing computations that are trustworthy and accurate without the bias or inaccuracy of humans. "AI can help reduce human error" (Source: "Artificial Intelligence and Human Error", Harvard Business Review, 2021) AI has the potential to significantly affect the replacement of hazardous or harmful tasks in another field. workers in industries like mining, production, and production face dangerous situations that ...

Society 5.0 Alief Rama 30/3/2024      The Japanese government refers to Society 5.0 as the "Super Smart Society," with the goal of establishing a society in which individuals may address a range of societal issues by integrating technological advancements like artificial intelligence, robots, and big data. As much as I understood, they may be referring to our current general whose main motivations and       From my understanding, the concept of Society 5.0 revolves around a massive amount of data from physical sensors is stored in cyberspace. In cyberspace, AI analyzes this huge data, and the results are presented as feedback to humans in physical space in numerous forms. Achieving Society 5.0 would lead to economic prosperity and reduced environmental deterioration. (Azzarudin, 2020).     With the introduction of Society 5.0, the newer generation will be forced to integrate technology-centered views and machine thinking to not only increase...

Good Ideas & Innovation Good ideas often stem from a combination of personal experiences, market knowledge, hobbies, and interactions with others. They can also arise from dissatisfaction with existing products or services, or from identifying gaps in the market. The web page you’re viewing suggests that good ideas can come from various sources such as patent offices, government initiatives, technology transfers, trade shows, and even news events. It emphasizes that ideas are not inherently good or bad; their value is determined by implementation and the ability to turn them into opportunities (Johnson S., 2010). There are 7 patterns that creates innovative environments: 1.  The Adjacent Possible - pattern of small steps of making an advance is the dominant pattern for innovation. From that, most innovations are an accumulation of incremental advances. 2. Liquid Networks - states that an idea is a network of cells in the brain exploring the adjacent possibility of the idea in t...

 Risk Management Julian Ong 31/3/2024 Enterprise Risk Management (ERM) is a comprehensive approach to identifying, assessing, and managing risks across an organization to achieve its objectives. For entrepreneurs, understanding and implementing ERM is crucial for the sustainability and growth of their businesses. Good Concepts of ERM Holistic View: ERM provides a clear and complete view of risks, considering all parts of a business and how they are interrelated (Marker A., 2021). Strategic Alignment: Risks are evaluated in relation to the company's strategic goals, ensuring that risk management contributes to accomplishing these objectives (Marker A., 2021). Proactive Approach: ERM is a proactive way of managing risks, identifying potential risks before they occur, allowing preventive measures to be taken (Marker A., 2021). Tools for Risk Management: Risk Assessment Matrix: A tool to evaluate and prioritize risks based on their chances of occurring and effect on the busin...