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Business kit manual training 20130416

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  • Ask QuestionsHow many shares maximum if $1,000 is maximum? 500 shares.25 shares is how much? A: 50.
  • Transcript

    • 1. Business Kit Manual Training for Advisors Prepared by: Mohamad Fadhilullah @Bobby
    • 2. Table of Contents • Achievers Guide • Part A: Setting the Scene • Part B: Running a BEES Company • Appendices 16-Apr-13 2Brunei Entrepreneurship Education Scheme
    • 3. Achievers’ Guide • Introduction to BEES • Company Concepts • Sequence of Events • Shares • Regular Meetings • Liquidation 16-Apr-13 3Brunei Entrepreneurship Education Scheme
    • 4. Introduction to BEES • Purpose of BEES • The role of BEES Advisers • The Business Kit 16-Apr-13 4Brunei 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 16-Apr-13 5Brunei Entrepreneurship Education Scheme
    • 6. Roles of BEES Adviser • Counsel and Guide • NOT to Lead and Direct • Allow Achievers to make mistakes • NOT to solve it for them 16-Apr-13 6Brunei Entrepreneurship Education Scheme
    • 7. The Business Kit • Contains Forms and Documentation • To ensure smooth running of BEES • IT is a Guideline IF it doesn’t FIT, improvise 16-Apr-13 7Brunei Entrepreneurship Education Scheme
    • 8. Company Concepts (ACH 2) • Legal Structure – Sole Proprietor – Partnership – Cooperatives – Sendirian Berhad / Private Limited 16-Apr-13 8Brunei Entrepreneurship Education Scheme
    • 9. BEES Company Company Structure (ACH4) Shareholders Board of Directors Managing Director / CEO Secretary Finance Production Sales and Marketing Human Resource Research and Development 16-Apr-13 9Brunei Entrepreneurship Education Scheme
    • 10. Sequence of Events (ACH9 and B-15) 16-Apr-13 Brunei Entrepreneurship Education Scheme 10
    • 11. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 11
    • 12. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 12
    • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 13
    • 14. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 14
    • 15. • First Board Meeting • Copy of memorandum and articles of association and certificate of incorporation posted on notice board. • Trading Commences Week 5 16-Apr-13 Brunei Entrepreneurship Education Scheme 15
    • 16. • Opening Meeting • Administration and production • Shop Floor Work • Closing meeting Week 6 till Week 15 16-Apr-13 Brunei Entrepreneurship Education Scheme 16
    • 17. • Board Meetings • Monthly management information Monthly 16-Apr-13 Brunei Entrepreneurship Education Scheme 17
    • 18. • Board Meeting • Date set for Winding Up • Run Down of Stocks Planned • Liquidation Procedure Initiated Week 16 16-Apr-13 Brunei Entrepreneurship Education Scheme 18
    • 19. • Disposal of Fixed Assets • Disposal of raw materials, stocks & work in progress completed • Stocks of Finished Goods Cleared Week 17 16-Apr-13 Brunei Entrepreneurship Education Scheme 19
    • 20. • Reports to shareholders & final account drawn up • Liquidation report Issued • Discussion of disposal of trading surplus (if any) Week 18 16-Apr-13 Brunei Entrepreneurship Education Scheme 20
    • 21. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 21
    • 22. • Bank Account close • Final General Meeting • BEES ends Week 20 16-Apr-13 Brunei Entrepreneurship Education Scheme 22
    • 23. 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 16-Apr-13 23Brunei Entrepreneurship Education Scheme
    • 24. 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 meeting 16-Apr-13 24Brunei Entrepreneurship Education Scheme
    • 25. Possible Operational Problems • Cash flow or lack of it • Overtrading 16-Apr-13 25Brunei Entrepreneurship Education Scheme
    • 26. 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 16-Apr-13 26Brunei Entrepreneurship Education Scheme
    • 27. 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, assista nce • Review experience and Lessons learnt 16-Apr-13 27Brunei Entrepreneurship Education Scheme
    • 28. Final meeting • Invite all participants and shareholders • Review the experience gained • Discuss the Many Lessons Learned 16-Apr-13 28Brunei Entrepreneurship Education Scheme
    • 29. Part A: Setting the Scene Guidelines for Achievers
    • 30. Functions, Roles and Responsibilities <a-8> 16-Apr-13 Brunei Entrepreneurship Education Scheme 30
    • 31. 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 structure 16-Apr-13 31Brunei Entrepreneurship Education Scheme
    • 32. 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 16-Apr-13 32Brunei Entrepreneurship Education Scheme
    • 33. Company Secretary <A-11> • Memorandum and articles of association • Legal compliance • Keep company records • Agenda and Meeting notices • Formal minutes of meetings • communication 16-Apr-13 33Brunei Entrepreneurship Education Scheme
    • 34. Finance Director/ Accountant <A-14> • Record financial data • Report financial information • Budgeting and Control • Costing, break even and pricing • Workout Example <A-25> 16-Apr-13 34Brunei Entrepreneurship Education Scheme
    • 35. Human Resource Director <A- 34> • Keep Records of employees • Recruiting and training staff • Health, Safety, and Security • Recognizing and Dealing with personal factors 16-Apr-13 35Brunei Entrepreneurship Education Scheme
    • 36. 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 16-Apr-13 36Brunei Entrepreneurship Education Scheme
    • 37. Marketing Director <a-36> • Market Research • Feedback on improvement for products and services • Discuss distribution methods • Forecast sales • Works with sales teams 16-Apr-13 37Brunei Entrepreneurship Education Scheme
    • 38. Sales Director <A-41> • Locate and sell to customers • Plan and implement sales targets • Sales training • Stock control • Promotion and advertising • After sales service 16-Apr-13 38Brunei Entrepreneurship Education Scheme
    • 39. 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 16-Apr-13 39Brunei Entrepreneurship Education Scheme
    • 40. 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, 16-Apr-13 40Brunei Entrepreneurship Education Scheme
    • 41. 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 16-Apr-13 41Brunei Entrepreneurship Education Scheme
    • 42. First General Meeting (Achievers Chairman ) • Officially elect the Company secretary • Officially appoint the executives – Finance, production, marketing, sales, r&d, HR, e tc – Total and position is up to achievers – Assistants to positions may be appointed • Discuss – Business Plan (market, products, operations) – Shares 16-Apr-13 42Brunei Entrepreneurship Education Scheme
    • 43. 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” 16-Apr-13 43Brunei Entrepreneurship Education Scheme
    • 44. 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 16-Apr-13 44Brunei Entrepreneurship Education Scheme
    • 45. 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 16-Apr-13 45Brunei Entrepreneurship Education Scheme
    • 46. Regular Routines <B-9> • Weekly meetings • Company Diary of events • Opening meeting • Production and administration • Formal control and reporting mechanisms 16-Apr-13 46Brunei Entrepreneurship Education Scheme
    • 47. 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 16-Apr-13 47Brunei Entrepreneurship Education Scheme
    • 48. 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 disputes 16-Apr-13 48Brunei Entrepreneurship Education Scheme
    • 49. 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. 16-Apr-13 49Brunei Entrepreneurship Education Scheme
    • 50. Closing down the company • Initial liquidation • Intermediate procedures • Closing liquidation procedures 16-Apr-13 50Brunei Entrepreneurship Education Scheme
    • 51. 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 16-Apr-13 51Brunei Entrepreneurship Education Scheme
    • 52. • General • Health & Safety • Membership • Board of Directors and Meetings • General Meetings • Financial • Miscellaneous • Banking procedures Appendix 1 – Rules and Regulations <Part C> 16-Apr-13 Brunei Entrepreneurship Education Scheme 52
    • 53. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 53
    • 54. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 54
    • 55. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 55
    • 56. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 56
    • 57. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 57
    • 58. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 58
    • 59. • Currently no procedures • Teacher in Charge is the Bank • Opening accounts • Closing the Accounts Appendix 2 – Banking Procedures <C-6> 16-Apr-13 Brunei Entrepreneurship Education Scheme 59
    • 60. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 60
    • 61. • 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) 16-Apr-13 Brunei Entrepreneurship Education Scheme 61
    • 62. • 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 16-Apr-13 Brunei Entrepreneurship Education Scheme 62
    • 63. • Products and Service • Market Research • Market Strategy • Organization • Operations • Financials Appendix 5 – Business Plan <C-12> 16-Apr-13 Brunei Entrepreneurship Education Scheme 63

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