BUSINESS E-PORTFOLIO REPORT
PORTFOLIO
I. WHAT KIND OF BUSINESS PRACTICUM, INDUSTRY, PRODUCTS/SERVICES?
NZCRUNCHIES
NZCrunchies is one of the bumiputra product brands of NZ Frozen Industries Sdn Bhd which to this day, is still looking for highly visionary members, eager to further expand their business. Through it is viral snacks, NZ Crunchies provides an opportunity to generate income for all groups regardless of race and religion. There are 8 flavour which is Cheese Primo, Golden Salted Egg, Savory Chicken Floss, Roti Bakar, Seaweed Teriyaki, Chocolate Supreme, Milky Matcha and Korean BBQ.
II. WHO IS IN YOUR COMPANY?
CEO
CEO which stands for Chief Executive Officer, is the highest-ranking individual in a company or organization. The CEO is responsible for the overall success of a business entity or other organization and for making top-level managerial decisions. They may ask for input on major decisions, but they are the ultimate authority in making final decisions. In addition to the overall success of an organization or company, the CEO is responsible for leading the development and execution of long-term strategies, with the goal of increasing shareholder value. The typical duties, responsibilities, and job description of a CEO include communicating on behalf of the company with shareholders, government entities, and the public, leading the development of the company’s short- and long-term strategy, creating and implementing the company or organization’s vision and mission and so on.
DROPSHIPPER
Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product using the dropshipping model, it purchases the item from a third party and has it shipped directly to the customer. As a result, the seller doesn’t have to handle the product directly. There are some benefits from dropshipping such as less capital is required, low overhead, easy to get started and others but by dropshipping also has disadvantages like get low margins, inventory issues and shipping complexities.
WEB DESIGNER
Web designer is someone who prepares content for the Web. This role is mainly related to the styling and layout of pages with content, including text and images. Web designers use many technologies but commonly rely on hypertext and hypermedia resources including HTML, and additional Web design tools. Other than that, Web designers are often proficient in various higher-level programming languages used to create scripts for the Web. Many of them also focus on the ability to create good-looking sites that will display well on a range of browsers and devices.
MARKETING
Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company. Product, price, place, and promotion are the Four Ps of marketing. The Four Ps collectively make up the essential mix a company needs to market a product or service. At its core, marketing seeks to take a product or service, identify its ideal customers, and draw the customers' attention to the product or service available.
ACCOUNTANT
An accountant is a professional who is responsible for keeping and interpreting financial records. An accountant performs financial functions related to the collection, accuracy, recording, analysis and presentation of a business, organization or company's financial operations. In a smaller business, an accountant's role may consist of primarily financial data collection, entry and report generation.
III. HOW DID YOU PROMOTE THE LOCAL BUSINESS OF YOUR PRODUCTS?
Digital channel is a platform used by entrepreneurs to promote their business nowadays due to easy and fast access and dissemination of information. As well as our company, NZCrunchieslicious also use digital channels as a platform for us to promote our products. There are two ways of how our company promote our local business which is by using social media and website.
Social media
As we all know, social media is a platform that has a variety of applications that allow all communities to connect with each other such as WhatsApp, Instagram, Twitter, Facebook and Snapchat. Our company has used Instagram, Twitter, WhatsApp and Facebook as the platform to promote our products but the main platform that frequently used are Instagram, WhatsApp and Twitter. The use of social media as a promotional platform is very convenient as it helps in saving costs such as transportation cost, advertisement cost and save energy due to we do not have to do many things that involve a lot of procedures and energy, just by using some devices and stable internet access we already able to spread information about the products all over the state. In addition, most society nowadays more interested in seeing and reading what is displayed on social media due to the ease and speed of information accessed. Plus, social media build good communication relationships between sellers and buyers as they can communicate using more friendly and informal language
Moreover, social insight also one of the benefits which company can use to promote the product. Social insight can be referred as information obtained about an organization or company reputation related to the product being promoted. Social insight can help the seller to understand the customer’s needs because social insight shows which content or most viewed products by the consumers.
Through social insight, companies can track customer and community interactions across products as a whole. For example, in WhatsApp, company can trace how many people that view the product displayed in WhatsApp status while in Twitter, company can trace how many people engaging and visit company main profile. Website is also a platform that our company used to promote our local business, but the use of this website is more to as a platform to convey information about the company and product as a whole to customers such as opening hours, delivery times, the amount of stock remaining and sold out, link to our company social media and so on.
Plus, our company also have classified each information by category which will make it easier for customers to access information quickly. This is because there are some members of the company do not look at social media all day so this will cause customers to wait, if there are customers who want to ask questions related to the product then they can just browse our website to get that information. This shows that our company very concerned about customer satisfaction with the products and services offered as our company believe customer satisfaction are the main things to consider in business development. through the product displayed. This shows that social media indeed good for entrepreneurs to grow their business.
Website
Website is also a platform that our company used to promote our local business, but the use of this website is more to as a platform to convey information about the company and product as a whole to customers such as opening hours, delivery times, the amount of stock remaining and sold out, link to our company social media and so on. Plus, our company also have classified each information by category which will make it easier for customers to access information quickly. This is because there are some members of the company do not look at social media all day so this will cause customers to wait, if there are customers who want to ask questions related to the product then they can just browse our website to get that information. This shows that our company very concerned about customer satisfaction with the products and services offered as our company believe customer satisfaction are the main things to consider in business development. Moreover, owning a website shows how effectively the company engages with social network to expand its product market.
IV. WHAT WAS YOUR COMPANY'S ACHIEVEMENT?
Total sales
In this running business, each of our partnership have their own total sales. They manage to get their own customer based on their resindence’s area. In addition, after they get an order they would send the order to the dropshipper and the dropshipper will complete the order. Other than that, we can get the profit from the sales that we get. So, after we add all the sales of NZCrunchies that we have sold about 181 jar. For us, it is a big amount for us eventhough the others group come with total sales one thousand for three month. We started selling of our product since in the mid of October. Every month at least we have less than 50 jar of sales. We have tried our best in this selling project.
Followers and likes
For this business project, we have registered our own Instagram account. On Instagram we reach our customers and also we get new followers. In addition, we also update all information on NZCrunchies there. So, all our followers can find out about our products by browsing our page. In addition to Instagram account, we also have a website and also a twitter account. The function of all these applications is the same that we update about our products. Furthermore, from the application we also get orders from our followers.
In addition, each of us has our own followers. For our Instagram account the number of followers we get is not more than 200. While on our twitter account we have followers. From all these followers we receive orders and they are also part of our customers. Next, on Instagram we uploaded a lot of pictures of our product and each of these pictures we got at least 50 likes per picture.
Vision
To provide a delicious snack that will be remembered by everyone each day.
To ensure customer satisfied with our product.
To create a new experience in world of business.
Goal
Ensure customer satisfaction.
Increasing a number of customers of each month.
Keep our loyal customers and improve our services day by day.
Objective
Objectives are an important part of running a business. This is because every member knows the objectives to be achieved in running a business whether short-term or long-term business. So the objective in this business is first we want to gain knowledge in business. We have never been in a business environment before. So, this project can make us acquire many new things like how to be a dropshipper, how to manage customers, what kind of products we can sell in our place and more.
Next, the objective in this business is that we want everyone to know what we are selling. In this project we sell NZcrunchies products. This type of product is food and beverage. Apart from that, we can also make this food brand widely known and generate a lot of sales. As we all know, nowadays there are too many types of snacks that are the concern of the people of this country. Indirectly maybe this project that we do can help this brand to be better known by the public and become famous.
In addition, the other objective is to offer a diverse of snacks. Products that we sold have a various type of flavour. All of the flavour is suitable for any stage of age for example children and also elderly. Other than that, the diverse of flavour can attract the customer. In addition, the variety of flavours customers can choose the available flavours and enjoy it no matter where.
Customer feedback
Based on our product that we sell, so far we get a good feedback from our customer. Some of our customer very satisfied with our services and our product. Not only that the delivery charges that we set also does not burden our customers. This is because we want our customers not to be burdened if we put a high shipping charge price. In addition, for your information, we also do the delivery services and postage services. For postage services we cover all states in peninsular Malaysia and we are using J&T Express. So far this service is quite fast because within two days our customer already receive their orders.
V. SALES/PROFIT OF YOUR COMPANY/LOCAL BUSINESS?
Our company has been in business since mid-October 2020 until the beginning of January 2021. The following are the total sales, sales performance, income statement during the 4 months and go e-commerce screenshots.
October (2020)
Total sales for October is RM170. This is because in mid-October, NZCrunchieslicious has just been set up where each member of the company also still not skilled in handling, stocks, orders and so on. The promotion held are also not aggressive as done in the following months.
November (2020)
Total sales for November is RM1130 due to the promotional activities are done on a large scale where each member conducts a promotion 6 - 7 times a week. Promotions are widely done on social media especially on WhatsApp and Instagram. As a result of that massive promotion, we found that many customers started to be interested in buying our products. Among the best-selling products and often in demand from customers are Cheese Primo, Chocolate Supreme and Roti Bakar. Therefore, in mid-November, we discussed and decided to do more promotions for the three flavours to attract customers to buy our products. In addition, we also offered delivery service (Cash on Delivery) where each delivery will be charged according to the distance. This delivery service is very helpful in increasing sales because customers prefer to pay delivery fee rather than pay for postage.
December (2020)
Total sales for December is RM440 due to less promotion are done. In addition, the sales dropped due to the MCO ordered by the government to curb the COVID19 pandemic. This affects the sales as the company not be able to perform delivery services causing number of customers also decreases.
January (2021)
Total sales for January is RM90 due to sales for January has just begun, which on 9th October and 10th October.
TOTAL SALES (INDIVIDUAL)
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SALES PERFORMANCES
(MID OCTOBER, NOVEMBER, DECEMBER 2020 AND EARLY 2021)
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NZCRUNCHIESLICIOUS
INCOME STATEMENT
FOR 3 MONTHS (MID OCTOBER, NOVEMBER, DECEMBER 2020 AND EARLY JANUARY 2021)
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GO E-COMMERCE
REFLECTION ABOUT THE BUSINESS
NURUL TASNIM BT SAMSUDIN
What kind of problems?
There are three challenges faced by the company throughout the conduct of this business namely competition challenges, expensive postage cost and products sold less popular.
Competition is the major challenge facing by our company as there are other companies producing and selling similar products. Companies need to compete in attracting customers to buy our products by lowering prices as customers prefer product with cheap price to ensure the company is able to survive in the market. In addition, this competition challenges not only exists among companies but also exist within company members due to every member also compete in their sales to earn high commission. Each member is very aggressive in promoting products in social media such as WhatsApp, Twitter and Instagram, especially in early November where up the sales can reach about RM1000. This shows that competition exist in inside and outside of the company is enormous.
Next, postage cost that is quite expensive especially for the customers who live in Sabah and Sarawak. Postage cost for Semenanjung is about RM8 meanwhile RM15 for Sabah and Sarawak, where there is have difference about RM7. Most of the customers from Sabah and Sarawak will cancel their purchase after knowing the postage price to be paid where it will affect the sales and stock of our company. This is because even though we only a dropship, but sometimes the stock is given according to the number of orders have made. If cancellation of purchase was made then company has to hold a lot of stock and the stock is not necessarily sold out because demand of each customer is different.
Lastly, products sold are less among buyer. This problem exists as a result of the competition challenge due to customers are more interested in buying the same product than other companies. As a company that running dropship indeed it affects company reputation and sales performance as we have to compete with them. Other than that, our promotion was less aggressive especially at the early October (mid-October) where at that time the company had just been established and the members of the company still did not understand and skilled to operate the business.
Solutions for the problems
There are few solutions that have been discussed and made by the company according to the problem which is practicing healthy competition, provide Cash on Delivery (COD) services and aggressive promotion.
Practicing healthy competition is more focused on the competition in the company where the competition between company members. This practicing healthy competition is to cultivate the spirit of not giving up and increase the positive value in each individual to ensure that they always positively in doing business and it also helps to strengthen relationships among the company members. For example, if there are member who achieve more than RM100 sale for a month, we will congratulate and make it as a motivation to be more aggressive in promoting our local business.
Next, provide Cash on Delivery services. This solution is derived from the expensive postage cost where the idea also come to increase company’s profits due to our company losing many customers from that issue, so we decide to focus on customers close to us such as family and friends. We decided to offer delivery service and delivery fee apply according to the distance. To some extent, the services our company offered help in increasing the profitability as well as the company can build good relationship with customers.
Lastly, aggressive promotion. Our company realizes that we need to do more promotion in order to attract customers. Our company aware of this when the sales volume for October is less encouraging even though we have reached the target. Therefore, we have done an aggressive promotion especially on WhatsApp and it did give results where total sales for November is about RM1000.
Suggestion/recommendation for the company could do better in the future?
My suggestion to the company could do better in the future is should encourage relationship among co-workers. For examples, always share opinions with each other and should not expect solutions from others only. If there is a problem face by the company, each member should think of ideas and ways to solve the problems or company members can do brainstorming together in order to produce quality solutions. This is because the company is an organization that is built together and this organization should be develop together. I believe that strong cooperation and teamwork between company members indeed help in growing the business due to high productivity. Therefore, every member in the company plays important role in ensuring this business is achieving the vision and objectives of the business.
Moreover, I suggest company should be more aggressive in promoting their products. This is because product promotion is the main factor of effectiveness of a business. If the promotion is done aggressively then more people will know about the product and indirectly it will affect the number of customers. Other than that, company should expand and diversify their way of promotion. For an example, company can use paid advertising services on Youtube or use paid review service made on Instagram. This method will inevitably result in high expenses as the company will have to make payment for the services used, but the company will also gain benefit because the products are promoted widely and more people will recognize the product where indirectly will increase the sales of products.
NURUL ALIAH BT MATZALI
What kind of problems?
In running this business I have encountered some problems. Among the problems encountered while being a dropshipper in this project is that I do not know the actual flow to become a dropshipper. This is because there is no previous experience in operating any online business. Besides, I also do not know whether it is necessary or not to hold stock because as a dropshipper only need to take orders and submit orders to agents. I had this problem during the start time to start this project.
The next problem I face is the existence of competition in the surrounding area. There was one of my contacts who also sell the same product. So at that time I’m was challenged because I was worried that no customer would buy with me. In addition, maybe this is because due to this product is cheaper and that’s why many people decide to sell this product to earn a side income.
Besides that, the next problem that I faced was managing my time. In this problem I need to focus on my study and on-going business. In this business, I need to manage my time wisely and divide my time to manage all orders. Also if I do not manage my time there are actually some orders that I delay for postage. So this problem will also affect my customer.
Solutions for the problems
Referring to the problem I am facing above there are solutions that I have found. The solution to the first problem was that I learned a lot about how to be a dropshipper from my agent. I also learned how to manage stock, set charges for shipping and even postage and so on. This helped me to solve this problem.
The solution to the second problem is that I create healthy competition. Competition in this business is a common occurrence and competition will also make us for more enthusiasm. To overcome this problem I improve and further improve the way of marketing to attract more customers. For example, I often post about this product on my Instagram account and also my whatsapp status.
Next, the solution to the third problem is that I make my own schedule to manage this business and also my study. For example, at night if I got an order I will prepare and make delivery the next day. I try not to delay an order because I want to make my customer satisfied with our product and services.
Suggestion/recommendation for the company could do better in the future?
Overall, in this project I really satisfied with all of our members. My suggestion to me and my partnership to do better in business field is do not give up easily and continue to seek knowledge in this field. This is because as we know, the current economy is not so strong and stable. So, try to find side income because we do not know what will happen in the future and indirectly if we have a business then we will have savings for the future.
In addition, my recommendation to all my partnership is to do better in business maybe we can try to find related classes in this business. For example, nowadays there are many online classes that teach how to become an online entrepreneur, how to increase sales and so on. Hence, from there we can gain knowledge and make the business much more better than before.
SITI NURHAINI BINTI MUHAMAD ZIN
What kind of problems?
The problems that I faced when I do this business, first is many customers complain about postage. The price of the product that I sell is low but when the price plus with postage the customer fell that the price is high. Because of that, many customers cancel to buy when they know the postage price.
The second problems that I faced is competition challenges. At first this product has less competition compare to another product that available in market right now. But day by day, there are a lot of people also sell the same product. This problem can make my company difficult to highlight business and also challenging to attract customers.
Last but not least, products sold are not known or less popular among buyers. It is because, the product that I sell is a new product. Usually, customers will buy flavours commonly used in other products such as cheese, salted age and Korean BBQ. It is because most other flavours are flavours that are rarely heard and found. They worried if that flavour is not suitable for them.
Solutions for the problems
The first solution due to expensive postage, so we provide cash on delivery (COD) service. It is cheaper than postage. The service is also the same as postage: the product will be delivered directly to the home by the seller himself but at a lower price because it only involves oil cost.
The second solution is practice healthy competition by doing the right marketing strategies. Good strategic marketing not only promotes the products and company names, but it can also attract customers to buy the product from our company.
The final solution for this problem is always to promote the product on social media. Nowadays, social media is the most important platform to promote a business item. It is because everyone has social media. With just one click all the information about the product can be accessed by the buyer. All the buyer's feedback about the product can be uploaded in the social media like Instagram, status WhatsApp, Facebook and others to be better known by buyers.
Suggestion/recommendation for the company could do better in the future?
The first suggestion is an increase in terms of product sales. To increase product sales, each member must always introduce products sold to customers, for example, by always promoting products on social media such as WhatsApp, Instagram, telegram, and others. This can attract buyers to try the products sold as well as increase product sales.
Other than that, communication is the most important thing in a group. As a group we need to always communicate with each other and often do a consultation to identify our company problems and also how to increase the sale of the product. All the suggestion and idea not only can help the company but it also can help the member in the group.
The last suggestion is I hope in future our company will have our own product. There are many advantages if we produce our own product, for example, it easier to control the product, we know what we want and what we need to do. Not only that but having our own product also can increase our perceived expertise.
NUR AMMIRA BT JAAIB
What kind of problems?
Dropshipper is an order fulfillment method that does not require a business to keep products in stock. Instead, the store sells the product and passes on the sales order to a third-party supplier, who then ships the order to the customer. A common problem among online dropshipping merchants is running out of stock. Worse, the drop shipper does not update it with you. This issue will affect the dropship business as the required items are not available. It is more problematic if the prospect has finished ordering and paying us, and it is also possible that we will lose trust from the customer.
Solutions to the problems
We can contact customers immediately. It is better to call them directly and tell them the situation and state the alternatives. We can also find other suppliers who also supply the product as preparation if this happens.
Suggestion/recommendation for the company could do better in the future?
Running a business requires daily effort. We'll need to spend at least an hour a day on our store as we grow our sales. Each day, we'll need to process orders so that products arrive at your customers promptly. We'll also need to respond to customer inquiries within 24 hours (ideally less) so that customers can depend on us. Marketing efforts will also need to take place each day to make sure that our ads are always running.
NAJWA NADHIRAH IFFAH BT MOHD ZAIDI
What kind of problems?
Throughout running this business, I have encountered some problems. One of the problems I face is the products I sell are less popular among buyers. This is because, this product is still new in the market, so people are not very familiar with the product I sell. In addition, I also face the problem of perishable products. Because of the products I sell are like chips, so, they are easily destroyed if not taken care of properly. Lastly, Expensive postage costs are also one of the problems I have. This is because I will get orders from customers who are near or far from me.
Solutions to the problem
In order to solve the problems I face, I have provided and arranged several ways such as I will keep promoting products on social media, so that, more people know the product brand and can attract buyers to try new things. In addition, to solve problems related to perishable products, I have provided packaging that can reduce the risk of the chips to break by using packages such as bubble wrap before posting the goods to customers. To solve the problem of expensive postage, I have provided Cash on Delivery (COD) services. So if the customer is close to me, I can go send the order myself. But if the order I get is far from me, I can pass the order to my other company members to COD the goods if the customer is close to other company members area to reduce costs by the customers.
Suggestion/recommendation for the company could do better in the future?
My suggestion for the future of the company is that we need to constantly organize and devise ways to promote our products more aggressively and creatively so that more customers will be attracted to our products. In addition, maintaining relationships among members in the company is also important because we need to be united in the success of the business, we run so that the objectives, goals missions, and visions of our company is achieved.
TEAM MEMBER
Use this space to write a brief description of what this team member does. You can include relevant degrees, experience or other special qualifications they may have.