College of Administrative and Financial Sciences Assignment 1, 2 & 3 Student’s Name: Course Name: Entrepreneurship and Small Business Najeeb Mohammed Alrazeeni Course Code: - MGT 402 Student’s ID Number: 170063140 Semester: II CRN: 21612 Academic Year: 1440/1441 H For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented; marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Read carefully Grading Rubric below for specific criteria: 0-5 Marks. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page, assignment instructions, and assignment questions will NOT be accepted. You must submit the assignment the assignment instructions, cover page and assignment questions. without deleting Department of Business Administration Entrepreneurship and Small Business - MGT 402 Assignment 1, 2 & 3 Course Learning Outcomes: Marks: 15 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). 4. 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 marketplace. (Lo 1.8, 4.3 & 4.5). 5. Deliver and communicate marketing massages in coherent and professional manner. (Lo 4.4). BUSINESS PLAN Project yourself as an entrepreneur of a small-scale business in Saudi Arabia. Assignment Objectives & Requirements: 1. Owners a. Your Business Name, Address, E‐Mail 2. General Business Description (300 – 500 words) A. What business will you be in? What will you do? •Mission Statement •Company goals and objectives B. Business Philosophy a. What is important to you in your business? • To whom will you market your product? • 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? • Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liability corporation (LLC)? Why have you selected this form? 3. Products and Services (300 – 500 words) a. Describe in depth your products or services. (Technical specifications) b. What factors will give you competitive advantages or disadvantages? Examples include level of quality or unique or proprietary features. 4. Marketing Plan (300 – 500 words) a. Market Research- Why? b. Market Research- How? Primary or Secondary Data? 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. Facts about your industry • What is the total size of your market? • Current demand in target market. • Trends in target market—growth trends, trends in consumer preferences, and trends in product development. • Growth potential and opportunity for a business of your size. • What barriers to entry do you face in entering this market with your new company? • How will you overcome the barriers? • How could the change in technology, change in government regulations, change in the economy, change in your industry, affect your organization. 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, their demographics Competition • What products and companies will compete with you? • How will your products or services compare with the competition? Strategy • Outline a marketing Strategy. Promotion • How will you promote your Product? • What will be your promotional budget? Method of setting prices •Compare your prices with those of the competitors. Are they higher, lower, the same? Why? •How important is price as a competitive factor? • Do your intended customers really make their purchase decisions mostly on price? • What will be your customer service and credit policies? Distribution Channels How do you sell your products or services? Legal Environment • Licensing and bonding requirements • Health, workplace, or environmental regulations • Special regulations covering your industry or profession • Insurance coverage • Trademarks, copyrights, or patents (pending, existing, or purchased Personnel •Number of employees • Type of labor (skilled, unskilled, and professional) • Where and how will you find the right employees? • Quality of existing staff • Pay structure • Training methods and requirements • Who does which tasks? • For certain functions, will you use contract workers in addition to employees? Inventory • What kind of inventory will you keep: raw materials, supplies, finished goods? • Average value in stock (i.e., what is your inventory investment)? • Rate of turnover and how this compares to the industry averages? • Seasonal buildups? • Lead‐time for ordering? Suppliers: Identify key suppliers. • Credit and delivery policies 5. Financial Plan (300 – 500 words) The financial plan consists of a 12‐month profit and loss projection, a cash‐flow projection, a projected balance sheet, and a break‐even calculation. Together they constitute a reasonable estimate of your company's financial future. 6. Conclusion (300 – 400 words) Assignment Submission • There will be three submissions for this assignment as the following: Submission Week Due Date Point covered First Submission Week 7 1,2, &3 Second Submission Week 11 Third Submission Week 13 4 5&6 Word Count 1. 0-50 2.300-500 3.300-500 4. 300-500 5.300-500 6. 300-500 Instructor’s assessment based on the sincere effort and participation in the followings: • Class • Blackboard • Discussion Board • Wiki • Blogs TOTAL MARKS Marks 5 5 5 10 25 MGT402 – Assignment Rubric Marks:5 Percentage 100 Percentage: 50 Marks: 2.5 Requirements Percentage: 50 Marks: 2.5 Content Exceeds Expectation Meets Expectation 76-100 51-75 0-50 Includes all the required components, as specified in the assignment. Includes most of the required components, as specified in the assignment. 51-75 Includes some of the required components, as specified in the assignment. 0-50 76-100 Demonstrates substantial and extensive knowledge of the materials, with no errors or major Demonstrates adequate knowledge of the materials; may include some minor errors or omissions. Below Expectation Demonstrates fair knowledge of the materials and/or includes some major errors or omissions. omissions. Answers: 1) owners a) name of the business: AR cosmetics, Saudi Arabia, Jeddah. ARcosmetics.com 2) general business description: A) business is into cosmetic industry, with wide range of cosmetic makeup products, with natural ingredients, which are, chemical free, paraben free, cruelty free. Mission: to be a competitive firm in cosmetic industry, by providing quality products, which are safe and halal. To run the business with all the ethical standards and right practices and earn a high position in the market. Goals/Vision: AR cosmetic aims to be a leading firm with satisfied customers. To take the business to a global level and provide quality cosmetic to the world consumers. B) company philosophy: a) AR cosmetic will be an ethically driven business, which considers it's stakeholders as an important element and satisfying them will be the major priority. Quality products, external and internal customer satisfaction, attaining set goals and running successfully with a competitive strength is the important concern for the business organization. Product will be marketed to both men and women, considering there need and lifestyle habits. They will segmented by demographic and psychographic factors and are provided with variety of products. Cosmetic industry is in growth stage, because, it is ever growing and demanded, cosmetic and makeup products are heavily purchased by all the people globally. I foresee that customers will shift their preference to natural cosmetics, because they are becoming more aware about the product composition which they are using due to wide information available on Internet. They are concerned about there skin and product they are applying on it. In the long run the customers will demand those products which are safer and reasonably priced. Company will take this change as an advantage to position the brand by meeting the customers need and creating more need with wide range of cosmetic products and making them aware that they will be provided with such goods which they feel are safe for there skin. A unique natural composition and demand factor will be our competitive strength. Our unique product concept and composition is our strength, we are focusing both the male and female customers, we have all the right resources and man power which are our core competencies. Industry attractiveness, demand and customer's preference change to natural and safe products, right management and talented workforce will be our success factor. Our major competitive strength will be our ingredients, composition of the products, it's packaging and utilizing online platforms to reach out large number of customers. As the owner of the firm, I worked in ABC company which is one of the leading brand in cosmetics, I know the insight of the business and how to make the business successful. With expertise and experience I can take the business to a new level. The business will be a partnership with 2 more partners who are well experienced in the same industry and have good knowledge about the product ingredients and it's production. Partnership will be suitable form for us because, We will be having limited liability, and 3 owners equally sharing profits and losses. 3) products and services a) wide range of products which includes, lipsticks, mascara, foundation, night cream, foot Cream, moisturizer, perfume, soaps, shampoos, nail enamel, which are all provided with natural and safe ingredients in a multipurpose packaging, it's unique feature will be it's travel friendly packaging, multi-purpose Product in a single unit, it will be available in different sizes and Colors combination, Products will be differentiated meeting both the needs of men and women customers. b)Product features and it's unique concept will give competitive advantage and it will be made available through online and offline stores. It's packaging will be another feature, and it's targeting strategy will also constitute to competitive strength. It will be priced competitively so that large customers will be attracted. But, there are numerous other brands competing strongly with distinctive features and natural ingredients composition. Which will be a threat. 
Purchase answer to see full attachment