WUS 101 - CORE ENTREPRENEURSHIP

SEMESTER 1 2022/2023

TASK 3 BUSINESS REPORT

PREPARED BY:
GREEN FARM (GROUP 242)

GROUP MEMBERS:
NAME MATRIC NO.

NATASHA LEE PHEY YING 161900

NUR HAFIQAH BINTI DOLFAKAR 162380

NURUL HUSNA BINTI ARIFFIN 164387

ISMAT LUQMAN BIN NAZARUDIN 161592

CHARLIZE CARMEN SINIDOL 161479

WANNEYNA CHAICARAN A/P WENAI 164693

PROVIDED FOR:

WUS101 LECTURER
ASSOCIATE PROFESSOR DR. MOHD SAYUTI BIN HASSAN

DATE:

26 JANUARY 2023
LETTER OF SUBMISSION

Natasha Lee Phey Ying,

School of Biological Sciences,
Main Campus,
Universiti Sains Malaysia,
11800 Minden,
Pulau Pinang.

Assoc. Prof. Dr. Mohd. Sayuti Bin Hassan,

WUS 101 – Core Entrepreneurship Lecturer,
Universiti Sains Malaysia,
11800 Minden,
Pulau Pinang. 26 JANUARY 2023

Sir,

SUBMISSION OF WUS 101 GROUP 242 TASK 3 BUSINESS REPORT

With reference to the above, I, Natasha Lee Phey Ying, with identity card number
020613131184 and matric number 161900, have dutifully attached the business report of our
group for your assessment.

Total Online Sales: RM270

Total Profit: RM17.45

Product sold: HLT CUTE G2i

2. With this, it is hoped that my work will gain your attention.

3. If there are any issues regarding my report, please contact me via email,
natashalee@student.usm.my or phone number +60 198830613.

Thank You.

Yours Respectfully,

—-----------------------------------
NATASHA LEE PHEY YING (161900)
Student,
Universiti Sains Malaysia.
TABLE OF CONTENTS

NO. DESCRIPTION PAGE

1.0 BUSINESS BACKGROUND 1-8

2.0 MARKETING STRATEGY 9-10

3.0 RISK MANAGEMENT 11

4.0 MANAGEMENT OF COMMUNICATION NETWORK 12-13

5.0 FINANCES 14

6.0 PROBLEMS AND CHALLENGES FACED 15-16

7.0 APPENDIX 17-19

1.0 BUSINESS BACKGROUND

Business Name: Green Farm

Group Number: Group 242
Business Structure: Partnership Business
Partner:
1. Natasha Lee Phey Ying
2. Nur Hafiqah Binti Dolfakar
3. Nurul Husna Binti Ariffin
4. Ismat Luqman Bin Nazarudin
5. Charlize Carmen Sinidol
6. Wanneyna Chaicaran A/P Wenai

Business Starting Date: 1.5.2022

Initial Capital: RM 252.55
Product Type: Hydroponic sets
Supplier: JJ HyGrowtech Sdn. Bhd.

1.1 BUSINESS PURPOSE

Green Farm seeks to redefine farming by using urban technology and design to fully optimise
space and allow various plants and home vegetables to grow faster, healthier and safer
without the usage of toxic chemicals. The idea of establishing this business is to supply
eco-friendly hydroponic sets for consumers to improve the quality of fresh plants such as
vegetables and others at the comfort of their own home garden. It is also committed to raise
awareness and community engagement in self-sustainability as well as food security. Our
business will also be providing education, experience and research in the hydroponic field.

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1.2 BACKGROUND OF OWNERS
Partner 1

Full name : Natasha Lee Phey Ying

Identification Card No : 020613-13-1184

Date of Birth : 13 June 2002

Age : 20

Gender : Female

Permanent Address : 34A, Lot 4568, Lorong 11 D, Jalan Song, 93350 Kuching, Sarawak,
Malaysia.

Phone Number : 019-8830613

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skill
- Leadership
- Multilingual (Bahasa Melayu, English, Chinese)
- Work ethic
- Problem solving
- Good time management

2. Hard skill
- Microsoft Office
- Powerpoint
- Spreadsheets
- Graphics
- Gmail and Outlook

Working Experience :
1. Cashier
2. Part time tutor
3. Stall assistant manager

Current Work : Full-time student

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Partner 2

Full name : Nur Hafiqah Binti Dolfakar

Identification Card No : 020901-01-1830

Date of Birth : 1 September 2002

Age : 20

Gender : Female

Permanent Address : No 92 A Felda Air Tawar 1, Kota Tinggi, 81920, Johor.

Phone Number : 011-6211 6079

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skill
- Multilingual (Bahasa Melayu, English, Korean)
- Work Ethic
- Problem Solving

2. Hard skill
- Microsoft Office
- Powerpoint
- Spreadsheets
- Access
- Outlook

Working Experience :
1) Sales Associate
2) Cashier
3) Promoter

Current Work : Full-time student

3
Partner 3

Full name : Nurul Husna Binti Ariffin

Identification Card No : 031021-07-0270

Date of Birth : 21 October 2003

Age : 19

Gender : Female

Permanent Address : No. 6, Lorong Gamelan 7, Taman Gamelan, 14200 Sungai Bakap, Pulau
Pinang

Phone Number : 017-4041458

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skills
- Bilingual (Bahasa Melayu, English)
- A good team player
- Willingness to learn
- Adaptability
- Time Management Skills

2. Hard skills
- Computer skills (Microsoft Office,Word, Spreadsheets, PowerPoint, Canva)

Working Experience :
1) Cashier
2) Promoter

Current Work : Full-time student

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Partner 4

Full name : Ismat Luqman Bin Nazarudin

Identification Card No : 020429-08-1383

Date of Birth : 29 April 2002

Age : 20

Gender : Male

Permanent Address : No 236 Jalan Besar 36400 Hutan Melintang, Perak

Phone Number : 011-36517103

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skills
- Bilingual (Bahasa Melayu, English)
- Creative
- Attentive

2. Hard skills
- Microsoft Office
- Word
- Spreadsheets

Working Experience :
1) Cashier
2) Promoter
3) Waiter

Current Work : Full-time student

5
Partner 5

Full name : Charlize Carmen Sinidol

Identification Card No : 020214-12-0592
Date of Birth : 14 February 2002
Age : 20
Gender : Female

Permanent Address : Kg. Suok, Jalan Datuk Peter Mojuntin, 89500 Penampang, Sabah,
Malaysia

Phone Number : 010-9307929

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skills
- Leadership
- Teamwork
- Communication
- Problem solving
- Creativity
- Adaptability
- Organisational

2. Hard skills
- Computer skills (Microsoft Office,Word, Spreadsheets, PowerPoint, Canva)

Working Experience :
1) Cashier
2) Promoter
3) Admin
4) Food & Beverage
5) Shell Gas Station Attendant
6) Mary Kay Independent Beauty Consultant
7) Part time tutor

Current Work : Full-time student, Mary Kay Independent Beauty Consultant

6
Partner 6

Full name : Wanneyna Chaicaran A/P Wenai

Identification Card No : 990506-06-5772

Date of Birth : 06 May 1999

Age : 23

Gender : Female

Permanent Address : No 737, Lorong 30, Taman Cempaka Indah, 08010, Sungai Petani,
Kedah.

Phone Number : 016-860 4804

Marital status : Single

Entrepreneurship Related Courses Attended : WUS 101 - CORE ENTREPRENEURSHIP

Skill/Competency :
1. Soft skills
- Communication
- Multilingual (Asli, Siamese, Malay, Mandarin, English, Indo, Thai, Canto, Hokkien)
- Adaptability
- Active listening
- Negotiation

2. Hard skills
- Computer skills (Canva, Google docs, Words, Powerpoint)
- Abacus (ticketing)

Working Experience :
1) Cashier 6) Park Ranger (The Habitat)
2) Waitress 7) Admin
3) Barista 8) Virtual Tour Facilitator & Conductor
4) Bartender 9) Illustrator
5) GreenSmiths Mentor (NGO) 10) Translator

Current Work : Full-time student

: Part-time waitress/bartender

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1.3 Organisation plan

8
2.0 MARKETING STRATEGY

A marketing strategy is referred to as a comprehensive, long-term game plan formulated by a

company to achieve their goals. This plan is executed by understanding the needs of
consumers in order to make them purchase their services or products. A marketing strategy
encompasses many aspects from the company's value proposition, key brand messaging, data
on target customer demographics, to other high-level elements which are essential for a
successful business. The main purpose of a marketing strategy is to obtain a sustainable
competitive advantage over rival companies. The effectiveness of a company’s value
proposition can be determined by the quality of its marketing asset, which can be displayed
by a social media campaign, print advertisement design and mass customization. A detailed
marketing strategy not only involves goal setting, researching the market and product
development plans, but covers "the four Ps" of marketing—product, price, place, and
promotion.

Product

The products we sell are Hydroponic sets, called HLT CUTE G2i. We ordered these products
from our supplier, JJ HyGrowtech Sdn. Bhd. Upon receiving the stocks, we always ensure
that the products we receive are in good condition for guaranteed high quality for our
customers. Before posting a single or bulk order from our customer, we will secure the item
in a box of an appropriate size. This is not only to oblige the responsibility of an organised
business with high-quality products and fine material, but to also give a good presentation of
these products to our customers. Overall, this will give a good impression to our customers.
This will also encourage other customers who see reviews from previous customers to buy
our products.

Price

Before we set the price for our selling items, we analysed the market price for hydroponic
sets. We also made estimations for the postage fee for both East Malaysia and West Malaysia.
Once we’ve collected sufficient information, we set RM90 for each set. The postage fee that
we will be charged by the courier company is RM48 for East Malaysia and RM20 for West
Malaysia.

9
Place

Our stocks are stored in one of our shareholders' dorms in University Sains Malaysia (USM),
Penang which is convenient since all of us are staying in the same campus. Our market area
covers the whole of Malaysia, including Sabah and Sarawak. Hence, our customers varied
from every single corner of Malaysia. We used J&T Express as our courier company. For
every order we received, we delivered our items to the post office. We placed the addresses
given by our customers and chose J&T Express for the delivery. For customers within the
campus area, we also provide free Cash on Delivery (COD) services for them.

Promotion

Even though the world is slowly subsiding back into the face to face norm, the 2020
pandemic has caused a great impact on online advertising. Hence, online platforms are the
most suitable approach for our product promotion. We created a poster to promote our
products with striking and informative captions to attract our targeted audience. The captions
also included the features and benefits of the products. These posters and captions were
spread across social media platforms including Instagram story and Whatsapp. When we
received an order from Instagram, our customers were directed to our Whatsapp number to
retrieve the customer’s information for direct ordering. Some customers directly contacted us
after replying to our Whatsapp Status posts. To catalyse the promotion process, all of the
stakeholders of our company shared information on our products to sell to the people around
us personally.

10
3.0 RISK MANAGEMENT

3.1 Operation

● Lack of experience and skills in running an online business

Lacking experience and skills are the problems that we faced when running an online
business. Lack of skills such as marketing and communication can be quite intimidating for
many businesses. Therefore, we try to find information about online business and learn a few
skills to improve ourselves in terms of knowledge and communication. Moreover, we also
seek advice from experienced entrepreneurs so that we can run our online business
successfully. As we believe, an entrepreneur needs to possess more than just a basic
knowledge to run an online business. Skills like how to manage business finances and how to
promote business in the market are types of skills that need to be acquired by an entrepreneur.
Indeed, we need to learn marketing in order to let people know that we are running an online
business.

3.2 Market

● High competition
High competition in selling plants at the market also affects our business. Competition exists
in terms of price and quality. For example, other companies sell their products cheaper but
their quality is way better than ours. So, we promote our products more frequently using
social media platforms such as Instagram, Facebook, and WhatsApp to obtain us new
customers. We also use some promotional materials to enhance the chances for our products
to compete with other companies. We develop proactive and efficient strategies to ensure our
business stays ahead by maintaining an online presence to grab any chances.

● Lack of demand for products

Customers also seem not really interested in our products. Therefore, we try to improve our
products by studying all of the feedback given by the customers. We need customers to
provide honest opinions about our services so that we can improve it in order to obtain new
customers. We try to improve our services so that customers will put trust in our business and
they might support our business to strive for triumph.

11
4.0 MANAGEMENT OF COMMUNICATION NETWORK

We chose JJ HyGrowtech Sdn. Bhd. as our supplier because:

Quality and reliability

The quality of the supplies is consistent - our customers associate poor quality with us, not
our suppliers. Equally, if our supplier lets us down with a late delivery or faulty supplies, we
may let our customer down. JJ HyGrowtech Sdn. Bhd. has been delivering good quality
products and is consistently reliable.

Speed and flexibility

Flexible suppliers help us respond quickly to changing customer demands and sudden
emergencies. For example we can accommodate last minute requests and changes from
customers by liaising with our supplier.

Value for money

The lowest price is not always the best value for money. We want reliability and quality from
our suppliers. We decided how much we’re willing to pay for our supplies and the balance we
want to strike between cost, reliability, quality and service.

Strong service and clear communication

We need our suppliers to deliver on time, or to be honest and give us plenty of warning if they
can't. JJ HyGrowtech Sdn. Bhd. will talk with us regularly to find out what needs we have
now and how they can serve us better in the future.

We use social media for customers to contact and find us because:

We can repost
We are active on social media platforms trying to constantly promote and introduce our
products. We also provide answers to customers' inquiries. Oftentimes when a customer is
happy with our product they will tag us on their social media and we will repost it on our
page. That to us is indirect publicity for our product which we appreciate.

12
Recruit skilled staff, for example through job networking sites like LinkedIn
Through social media customers get a glimpse of our company's operation so we might
attract people who are interested in working in our company alongside us.

Stay on top of industry news

In the online world, things move fast—and we can't afford to be left behind. Keeping a virtual
ear to the ground through social listening is a way to stay informed about upcoming changes
to our industry that could affect the way we do business.

13
 5.0 FINANCES

Sales Performance

ITEM Purchasing Quantity Total Sales Balance Selling Total Sales

Price (RM) Purchases (unit) (unit) Price (RM) (RM)

HLT CUTE G2i 65 3 195 3 0 90 270

Courier fees for one item ordered from East Malaysia = RM 48.00
Courier fees for one item ordered from West Malaysia= RM 20.00
Free shipping for orders pick up within campus area using Cash On Delivery (COD)
Subsidy of courier fees by Pusat Rancangan Kokurikulum per item= RM20.00

First order (2 products shipped to Sarawak state):

Total cost = Purchasing cost + Courier Fees item - Subsidy
= RM130 + RM97.55 - RM40.00
= RM187.55

Second order (1 product picked up from USM):

Total cost = Purchasing cost + Courier Fees Item
= RM65 + RM 0
= RM65

GRAND TOTAL COST= RM 187.55 + RM65

= RM 252.55

TOTAL SALES = RM90 x 3

= RM 270

PROFIT = RM 270 - RM252.55

= RM 17.45

RETURN ON INVESTMENT (ROI) = NET PROFIT/CAPITAL X 100%

= RM 17.45/ RM 252.55 X 100%
= 6.91 %

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6.0 PROBLEMS AND CHALLENGES FACED

1. Stay competitive in the marketplace

In the business world, everyone aims to expand their market share and attract more
customers. Since our online shop is still very new in the markets, it is difficult for us to
compete with other shops because customers might compare the prices of our products to
other competitors with lower pricing and higher product quality. Thus, we have to be
innovative and creative to make our products more attractive to get more attention from
customers.

2. Product pricing

Deciding on how much to charge for products is definitely one of the difficult decisions in
our online business. If the price of products is set too high, the customers will be less likely to
buy our products. If the price of products is set too low, the profit of our products will be low
and would not cover our expenses and gain net profit. After we had a fruitful discussion, we
decided to set RM90 for each HLT CUTE G2i to attract customers especially for people who
have interest in gardening.

3. Time management

Time management is also a challenge for us during online business. This is because we have
to balance our time for studies and the business. As a student, managing both study and
business work can be a difficult task for us. In this situation, we have to find some solutions
to make that balance more manageable such as clarify our priorities, make short-term and
long-term plans, establish our goals and stick to them.

15
HOW CAN WE OVERCOME THE PROBLEMS

1. Promote more often and widely with an efficient way

We put more effort on our products by promoting our product through mass media and by
joining any plantation group that contains people who love plants. We try to blend with the
people first, getting to know and create a great bonding which then we approach them with
our best product that would fit with their needs and criteria thus in order to better fulfil the
needs of the clients and facilitate their buying, we will create an online store website and
promote it on social media channels. By doing this, we can attract more new clients to buy
our items and expand our business.

2. Make the customer experience the best quality of our product

A satisfied client is more likely to become a devoted one who can help us advertise our items
in the marketplace and boost product sales, which is why a happy customer experience is
crucial to the success of our firm. For instance, we constantly monitor the communications
we get from clients and strive to reply as soon as we can. Additionally, we keep a cheerful
outlook while offering outstanding customer service, such as by utilising joyful emoticons to
convey friendliness and good humour.

3. Commitment and Trust

Each member of our group made a commitment to spend at least 30 minutes daily to check in
on the business no matter how busy we are. Everyone would need to fulfil their role with full
responsibility and do the tasks assigned to themselves. If someone in our group is ill or could
not complete their jobs within the given period of time due to some valid reasons, other group
members will have to take over the task to ensure the business is not affected. Our group
members put trust in our business in hopes that it will grow and expand. We also try to
prioritise this business at the same level as our academics.

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7.0 APPENDIX

Transaction history and postage fee receipts

17
Promotional flyer

18
Product photo

19