Entrepreneurship

OUM: OUMM 2103

Topic 7
Dr. Azahari Jamaludin
Email: bjazahari@oum.edu.my
 Topic 7: Fill-In The Blank
• Name the first advantages of having good networking.
Accessibility.
• Successful networking is the result of proper planning, careful
construction and execution.
• Name the two types of networking. Formal networking &
informal networking.
• When an entrepreneur established networking with childhood
friends, family etc. this networking is called informal networking.
• When an entrepreneur established networking with various
people who have a symbiotic relationship with the entrepreneur
this networking is called formal networking.
• What type of networking provides opportunities for the
entrepreneur to gain new information or exchange of
information? Informal networking.
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• What are the three ways for entrepreneurs to establish strategic
networking? Good planning, ask yourself and learning networking
technique.
• What is the first strategy for developing effective networking? Ready
to listen.
• What could be the result of good relationships with other people?
Positive changes.
• This strategy is a technique for developing relationships between
entrepreneurs and other people who have business experience &
those who will be involved in the business in the future. Name this
strategic networking: Strategy for Networking Consolidation.
• Entrepreneurs must show their capacity, personality and skills when
responsibility is given to them. Name this strategic networking:
Strategy for Developing Self-Confidence.
• Name the first strategies that could help you to be confident.
Communicate Effectively and with Full Confidence.
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• As an entrepreneur, you must prove that you are capable of
managing changes and guiding others to cope with the changes.
This statement refers to: Prove Your Abilities to Others.
• When you show that you are ready to help others. This
statement refers to: Show Concern for Other People.
• What is the first barrier in building strategic networks.
Emotional.
 Topic 7: Entrepreneurial Networking
Questions & Answer

• Describe Four (4) of the factors that explain the

importance of networking: pp: 102 – 104
– Develop Trust
– Build Confidence
– Reduce Red Tapes
– Increase Information
– Source of Creativity

• Explain Five (5) reasons why networking is important for

entrepreneurs: pp: 102 – 104
– Develop Trust
– Build Confidence
– Reduce Red Tapes
– Increase Information
– Source of Creativity
 Topic 7: Entrepreneurial Networking
Questions & Answer

• List down Four (4) effects of failure to build

good networking: pp: 105
– Increase Cost
– Waste Time
– Waste of Resources
– Damage the Entrepreneur Reputation
– Damage the Firm’s Reputation
 Topic 7: Entrepreneurial Networking
Questions & Answer

• Explain what are the Five (5) techniques to build

confidence in networking: pp: 107 - 108
– Communicate Effectively and with Full Confidence
– Prove Your Abilities to Others
– Show Concern for Other People
– Always be Fair
– Ready to Admit Your Own Mistake
– Show Teamwork Spirit
 Topic 7: Entrepreneurial Networking
Questions & Answer

• Using examples, distinguish tangible and intangible resources in

networking

• Provide Three (3) advantages in informal and formal networking:

pp: 101 – 102
– Formal Networking
• Creating business opportunities
• Solving problems
• Share experience and strengths
– Informal Networking
• Gaining new or exchanged information
• Free of change
• Getting morale support and advice
• Help making decision and reduce business risks
 Topic 7: Entrepreneurial Networking
Questions & Answer

• Discuss Five (5) possible barriers to building strategic networks:

pp: 109
– Physical
– Emotional
– Negative
– Psychological
– behavioural

• List Two (2) factors that are important in networking: pp: 102
– Build Confidence
– Develop Trust

• List Two (2) strategies for developing effective networking: pp: 105
– Ready to Listen
– Ready to Compromise
 Topic 7: Entrepreneurial Networking
Questions & Answer
• List Two (2) techniques to develop confidence in
entrepreneurs: pp: 107 – 108
– Communicate effectively and with full confidence
– Prove your abilities to other

• Define “strategic networking”: pp: 101

• Discuss the main types of networking: pp: 101 – 102

– Formal networking
– Informal networking