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MGT402 – Entrepreneurship and Small Business

Daniel Kevins

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Entrepreneurship and Small Business

ASSIGNMENT -1

Submission Date by students:Before the end of Week- 7th

Place of Submission: Students Grade Centre

Weight:05 Marks

Learning Outcome:

1. Demonstrate a solid understanding of the potential of entrepreneur in today’s competitive business world. (Lo 1.2)

2. Demonstrate ability to think independently and systematically on developing a viable business model (Lo 1.3 & 3.7).

3. Understand the place of small business in history and explore the strengths and weaknesses of small business. (Lo 1.1).

Assignment Workload:

This assignment is an individual assignment.

Start-up Business Plan

Imagine you started a new business as an entrepreneur in Saudi Arabia.

Please, think and share information on the following items:

1. Owners, capital structure and company profile

a. Your Business Name, Address, E‐Mail

b. Form of ownership:What is the legal structure? Sole proprietor, Partnership, Corporation…..

C. Investment capital

2. Company Business Description (300 – 400 words)

A. Scope and type of business

What business will you be in? What will you do? What market segment will you choose?

  • Business idea: what is your big idea? Is it a product or a service? What makes your idea different?
  • Mission Statement
  • Company’s short-term and long-term goals and objectives.
  • Target market and demographics: Who will your customers be? Where do they live? What is your target market passionate about?

    • B. Business Philosophy

    What is important to you in your business?

  • Describe your Industry: Is it a growth industry? What long term or short-term changes do you foresee in the industry? How will your company take advantage of it?
  • Describe your most important company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?
  • Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT.
  • Scale of the business and its growth anticipation: what is the growth rate per year for five years? What do your 5-year financials look like? What is your path to profitability?
  • Who is your competition and how do you beat them?
  • Start-up costs: what costs do you expect to make the business run for the next five years?

    • 3. Products and Services

    a. Describe in detail your products or services (Technical specifications).

    b. Size of business: how many employees? How many offices and retail facilities?

    c. What factors will give you competitive advantages or disadvantages? Examples, include level of quality or unique or proprietary features.

    Entrepreneurship and Small Business

    ASSIGNMENT -2

    Submission Date by students:Before the end of Week- 11th

    Place of Submission: Students Grade Centre

    Weight: 05 Marks

    Learning Outcome:

    • Utilize strong analytical skills and tools to formulate an effective Bootstrap Marketing Plan on which a small business can build a competitive edge in the market place. (Lo 1.8).
    • Deliver and communicate marketing massages in coherent and professional manner. (Lo 4.4).

    Assignment Workload:

    This assignment is an individual assignment.

    Start-up Business Plan

    Imagine you started a new business as an entrepreneur in Saudi Arabia (In Continuation to the Assignment -1).

    Please, think and share information on the following items:

    4. Marketing Plan

    a. Market Research- Why? (1 Mark)

    b. Market Research- How? Primary or Secondary Data? (1 Mark)

    c. In your marketing plan, be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all‐important sales projection. (3 Marks)

    Product

  • Describe the most important features. What is special about it?
  • Describe the benefits. That is, what will the product do for the customer?

    • Customer

  • Identify your targeted customers or your ideal customer: How many of them are there? It’s important here to be specific.

    • • Demographics

  • Customer relationships: How do customers want to interact with the business?

    • Competition

  • What products and companies will compete with you?
  • How will your products or services compare with the competition? Identify the organization’s competitors and their strategies, along with ways to counter competition and gain market share.
  • How is your target market solving their problem today? Are there alternatives or substitutes in the market?
  • Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself.

    • Strategy

  • Outline a marketing Strategy.

    • Promotion

  • How will you promote your Product?
  • What will be your promotional budget?

    • Distribution Channels

  • How do you sell your products or services?
  • What are the costs associated with distribution?
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    Daniel Kevins

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