Week 4: Understanding Business

Monday, 13 November – Sunday, 19 November 2017

 

Lili Kassay (Facilitator)     –   Natasa Sfiri & Jutta Pauschenwein: Moderators

Learning objectives: You will

  • how to develop vision and mission statements
  • recognize and detect opportunities,
  • turn ideas into opportunities,
  • commercialize ideas and evaluate opportunities.

Introduction

Hockey player Levente Szuper

…. speaks about his experiences … in Hungarian.

Financial literacy as basis for business

The best idea will not work if you don’t develop your finanancial literacy.

How to write a mission and a vision statement

Mission and vision statements are at the heart of your business. In the next session you can learn waht they are and how to create them.

2 Comments

  1. ASHOK KUMAR

    I want to express my dream and first attempt it was one and half year earlier to begin with Fencing League in India (for National Level). I gave my presentation to some company owners regarding all about my ideas of organisation, management, financial involvements, technical aspects, matches, Number of team, Number of players and we had a discussion on it and they were agreed to buy or start with 8 teams in each weapon/event (as there are three events/weapon in fencing). There were few persons from federation also. so, it was like a joint venture. But later on I wasn’t catch-up with the term that is called “follow Up” and it resulted in no further progress. May be the persons from companies used to hold survey for financial risk or Investment-Returns/gains policy. This was my failure to turn the opportunity or my dream into reality.

    Now, 2 months earlier I got another chance with some businessman who is very interested to build on it and like my concept, but he wants to make it mega international event and assured me to get some more stake holders for it. I am supposed to invest no capital and also I am having not any to invest in, but the whole conduct idea/stage and planning, technical aspect, rules & regulation is of mine. There is big financial mobilization is require for such an mega event, We are going to hire professionals for accounts and Finance purpose and some of from event management also. Now I am gonna afraid of Financial Risk involvement for stake holders, there is an uncertainty in my mind when I am calculating Budget and values after going through
    Richard A Lambert’s video on “Finance and Accountancy” as there is an example of manager’s job two types extreme fixing of bottom line or not paying any attention fixing at very high line. This video give a real picture of awareness for the risk factors lies in entrepreneurship, and helps in strategy of Finance and Accountancy for a firm.

    I am also looking into the aspect of popularization of the event with positive media support because, future of this business relays on fame a lot. Vedio from TEDx Westmount: Hicham Amrani, How to deal with uncertainty, gives courage and it is giving clear distinctions for uncertainty: Real or Perceived, Doubt

    Reply
  2. Vilma

    Great video in Hungarian language! At least now we know how it sounds if you are talking hungarian:) to understand it i guess takes a lot of time!

    Reply

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