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Chapter 1Small Business Management
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Case Study – Upin & IpinCreators of Upin & Ipin - Nizam Abdul
Razak, Safwan Abdul Karim and Usamah Zaid - among founding members of Les' Copaque.
Trio were Multimedia University graduates who started off as animators in another local animation, till in 2005, they met a former oil dealer, Haji Burhanuddin Radzi, and his wife, Hajjah Ainon Ariff, to set up Les' Copaque.
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Case Study – Upin & Ipin…continued
First series - produced specially for Ramadan in 2007 to instil the significance of the holiest month amongst its audience.
According to Safwan, "We started this short four-minute animation series last year to test local market acceptance and to gauge how it would react to our story telling capabilities.“
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Nizam believed - international animation market may be interested in a particular Malaysian cultural aspect made of a relaxed, unhurried village life.
He explained in a 2008 report, "Famous animation series, such as Japan’s Doraemon, are based on their respective local rather than international culture. We believe we can do the same with ours."
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Upin & Ipin…concept
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Wielded its influence in countries of the Malay archipelago - in Malaysia and Indonesia which share linguistic and cultural similarities.
Its first season landed its first award, for Best Animation in KLIFF 2007.
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Upin & Ipin…influence
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1. Definition of SMEshttp://www.smecorp.gov.my/v4/node/14
Central point of reference for SMEsAdopted a common definition of SMEs to
facilitate identification in various sectors and subsectors.
To formulate effective development policies, support programmes, provision of technical and financial assistance.
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An enterprise is considered an SME in each of the respective sectors based on Annual Sales Turnover or Number of Full-Time Employees
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Manufacturing, Manufacturing-Related Services and Agro-based industriesEnterprises with full-time employees not
exceeding 150 OR
with annual sales turnover not exceeding RM25 million"
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Micro Small Medium
Sales Turnover < RM 250,000 or
< RM 10 million
< RM 10 and < 25 million
Full time employees
< 5 5 and 50 51 and 150
Category: Manufacturing, Manufacturing-Related Services and Agro-based Industries
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Services, Primary Agriculture and ICTEnterprises with full-time employees not
exceeding 50OR
with annual sales turnover not exceeding RM5 million
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Micro Small Medium
Sales Turnover < RM 200,000 or
< RM 200,000 and < RM 1 million
< RM 1 million and < 5 million
Full time employees
< 5 Between 5 and 19
Between 20 and 150
Category: Services, Primary Agriculture and ICT
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2. FocusSmall businesses are imitative in nature – doing what other
businesses have done with a twist.Considered an entrepreneur if:
Self-employed (e.g. accountant, graphic designer, lawyer)FoundersFranchiseeBusiness buyersHeirs
Highly entrepreneurial businesses are characterized by novelty – products, services, and business models are INNOVATIVE.
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3. Key Differences between Small Businesses and High-Growth Ventures
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4. Small Business and Economy
1. In the US, small business - the engine of job creation, generating 75% of the 3.4 million new jobs
Small businesses employ > half of all Americans
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Malaysia? Great important to Malaysia economy. Recognized as the backbone of the economy andplayed a significant role in:• Generating employment• Nurturing a culture of entrepreneurship• Opening up new business opportunities• Supporting the large scale industries
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With a small capital requirement – always considered as a platform for young and aspiringentrepreneurs to start their businesses.
According to the National SME DevelopmentCouncil, 99.2 percent (518,996) of total businessestablishment in Malaysia are made up of SMEs. • Employs about 5.6 million people• Contributes 32% to Malaysian gross domestic product• 19% of total exports of the nation.
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Innovations - Creative Destructionthe way that newly created goods, services,
or companies can hurt existing competitorsE.g CD players; however, in 2001, the iPod
was released. E.g. The availability of online news has
resulted in declining circulation of newspapers
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5. RewardsGrowth rewards
what people get from facing and beating challenges
Income rewards $$$money made by owning one’s own business
Flexibility rewards ability of business owners to structure life in
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Figure 1.2
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6. Myths about Small BusinessesNot enough financingYou can’t start a business during a recessionTo make profits, you need to make somethingIf you fail, you can never try againStudents don’t have the skills to start a business
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Revision
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