BIZMART BOOK AND SUCH (STUDENT'S STRATEGIC ENTREPRENERSHIP)
Bizmart Book and Such is
an entity of business in UiTM Kelantan developed for retail laboratory and as
income generator for university. It aims to become as a referred business
training centre for university’s students. The novelty of this strategic
entrepreneurship model, it has simulated retail lab run at real time, on real
business transactions. Any student may utilized their knowledge learned in the
classroom and practice real retail business with guidance from the lecturers
who has expertise in retail, marketing, management and finance. Plus, they earn
wages too. Started from inventory purchase planning, stocking, displaying
inventories and selling, students also involve in decision making activities
such as deciding to add product lines or product mixes, purchase budgeting,
pricing strategy initiative and many more. Since Bizmart initiated in 2014 with
only one unit retail lot, today it has expended to serve another two segments
of printing and bookstore. In short, Bizmart is a shop runs for the students,
by the students, located in a university and own by the university. The
potential for Bizmart’s retail lab model is huge, including business
development and ideas that utilized university students’ openness of
participation and training. This model also has potential for syllabus
incorporation and CGPA integration, contributes to university’s productivity,
and become an economic and effective in house for students’ retail training
centre. Bizmart has also achieves excellent ROI and contribute to the
university in many ways. Bizmart Philosophies are created in
order to support the development of this business model (strategic
entrepreneurship) without compromising the fundamental of business elements.
Bizmart main philosophies is to ensure the goodness of products and services so
that the entity meet the standard of providing only quality products and
services. The second important in Bizmart model is the highest philanthropic of
business objective which is being profitable. This is important to serve the
operation cost, as well as generating income to the university. Third, Bizmart
is giving cheaper alternatives to students to purchase quality products and
services. Forth, inflows of economy for university with reducing leakages to
external business competitors. Fifth, Bizmart is a training centre for business
for students with the support of academics professional in the university.
Lastly, Bizmart could serve as a CSR unit to university in quantitative and
qualitative measures. Bizmart is based on fundamental of practice for business
by the university, to the society. The elements involved in the nature of
business may not distinct from the conventional practices. However, since the
inception, Bizmart has utilized the specialty of Faculty of Business and
Management in order to implement and reengineered the retails system for
starters, especially the graduates who passionate in involving business
specifically in retails. This entity
surfaces the theoretical foundation into more practical
solution without compromising the critical elements of business. These elements
could be the guidance for the stakeholders to next establish necessary modules
of retails practicality. Moreover, this guideline could become phenomenon as
the university drives the initiative of ‘income generating university’. The
ultimate objectives Bizmart sees in future to become the one stop centre for
retails training, simulation, benchmarking for quality retailing not only for
the scope of UiTM Kelantan, but to serve the points to the society as a whole.
The standard operational procedures of business management are the crucial to
the success of this entity. All in all, the
knowledge attained by everybody could be the catalyst of expertise transfers.
Bizmart is making UiTM Kelantan better and better. After all, as the
stakeholders, it is a responsibility to keep the innovative empowered within.
Within the committee members, and within the society,
Keywords: Strategic
Entrepreneurship, Incubator, Retail, UiTM Kelantan
- PUTRA FAIZURRAHMAN BIN ZAHID
- NURUL SYAQIRAH ZULQERNAIN
- NIK SURIATI NIK HASSAN
- SITI SARAH MOHAMAD
- ZURINA ISMAIL (DR.)
- NIK NOR HASIMAH NIK ISMAIL (DR.)
