MGT 402 Saudi Electronic University Entrepreneurship & Small Business Worksheet

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MGT 402

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‫المملكة العربية السعودية‬ ‫وزارة التعليم‬ ‫الجامعة السعودية‬ ‫اإللكترونية‬ Kingdom of Saudi Arabia Ministry of Education Saudi Electronic University College of Administrative and Financial Sciences Assignment-2 MGT402 – Entrepreneurship and Small Business Deadline: 20/11/2021 @ 23:59 Course Name: Entrepreneurship and Small Student’s Name: Business Course Code: - MGT 402 Student’s ID Number: Semester: I CRN: Academic Year: 1443/1444 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 will NOT be accepted. 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: 1. 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). 2. 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? Running head: STARTUP BUSINESS PLAN. 1 Question 1: EXECUTIVE SUMMARY. The business name is Healthy Harvest Fruits and Vegetables. The business will have a sole proprietorship legal structure. The ownership and control of the agri-business will be at an individual level for a start. the agri-business is not a separate legal entity from the owner of the business (Rahman, 2021). Investment capital can be sourced from small business administration loans, as it offers low-interest rates and easy payment terms for the business owner. This is just to get the business running. QUESTION 2: Healthy Harvest Fruits and Vegetable company business description. A. SCOPE AND BUSINESS TYPE. I will venture into the agricultural business. I will produce fruits and vegetables using greenhouse farming to supplement the local market supply. My major business goal is to produce products with low chemical content levels in fruits and vegetables. The idea is unique as the product will be grown more naturally using natural light and limited chemical input. The mission statement is 'unlocking nature's potential and improve the quality of life. The short-term goal of the business is to increase fruit and vegetable supply to meet the high market demand levels and to provide low chemically induced products for the consumption of the local population. The long-term goal of the business is to provide economic, environmental, and social sustainability to the business owner and the small surrounding community. The objective of the business is to address the community's concern to implement sustainable agriculture such as low crop yields. The target market is local supermarkets and grocery shops in the surrounding residential settlement. The market preference is fresh farm produce such as tomatoes, pepper, and citrus fruits. THE CONGO BASIN 2 B. BUSINESS PHILOSOPHY. Agri-business is a growth business. The short-term changes in the agricultural business are artificial intelligence and automation in planting and harvesting crops to improve their capacity and efficiency (Mir, 2021). The long-term changes in the agricultural sector include pest management using genetically modified plants, precision planting, and irrigation equipment, plant breeding resulting in increased plan produce and invention in fertilizer formulation and application input devices. Healthy Harvest Fruits and the Vegetable company will use its objective to adapt to technological inventions and innovations to increase its product produce. The company's strength and core proficiencies the company is its goal to produce low chemical level produce to improve the quality of life in the local population. Easy adaptation to the ever-changing technology is a major strength as it increases to produce and keeps the growing business at per with the market demand and supply. The strength of the business is the high demand for fruits and vegetables in the local population. The weakness of the business is the high capital layout required to adapt to the everevolving technology. The company has an advantage/opportunity as the government has reduced taxation for the production of farm produce. A threat to the business is that the product is highly perishable, this increases loss to the farmer. The company growth rate is approximated to be around 4.5 percent for the period between 2021-2026 (Abuselidze, 2021). The financial aspect for the next five years is promising as the agricultural market in Saudi Arabia has had minimal impact. The start-up cost is estimated to be 170000 Saudi Riyal. The business is capital intensive this reduces labor shortage and increases the production efficiency. THE CONGO BASIN 3 QUESTION 3: Product and Service. Technology to supply water to the crops in the greenhouse is drip irrigation as it is highly effective to minimize water shortage in the arid area. Translucent lighting to provide light for the crops to photosynthesis. Adapting artificial intelligence to increase planting and harvesting efficiency. The business is small scale, the owner runs the business solely and uses the residential premise as the business office, with employees of around 10 people. Low chemical level produce gives the company a competitive advantage as it attracts more consumers. Large scale farmers with high supply quantity are at a competitive disadvantage to the growing small scale farmer. References Abuselidze, G. a. (2021). EMPIRICAL ANALYSIS OF AGRICULTURAL DEVELOPMENT FINANCING AND THE WAYS TO IMPROVE AGRIBUSINESS MANAGEMENT. Economic Science for Rural Development Conference Proceedings. Mir, H. a. (2021). Improving the Food and Agriculture Sector Tehran Stock Exchange by using Artificial Intelligence. Agricultural Marketing and Commercialization Journal, 90--114. Rahman, M. N. (2021). DYNAMICS OF FOREIGN DIRECT INVESTMENT IN THE SAUDI ARABIAN ECONOMY. Academy of Entrepreneurship Journal, 1--16. ‫المملكة العربية السعودية‬ ‫وزارة التعليم‬ ‫الجامعة السعودية‬ ‫اإللكترونية‬ Kingdom of Saudi Arabia Ministry of Education Saudi Electronic University College of Administrative and Financial Sciences Assignment-1 MGT402 – Entrepreneurship and Small Business Deadline: 23/10/2021 @ 23:59 Course Name: Entrepreneurship and Small Student’s Name: Business Course Code: - MGT 402 Student’s ID Number: Semester: I CRN: Academic Year: 1443/1444 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 will NOT be accepted. 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.
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Business Plan

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Business Plan
The full potential of our business's marketing plan to be actualized, there are two points
that it focuses on, the end goal of the market plans and the steps required for their achievement.
Through market research, the Company has been able to acquire information for the market plan.
The Healthy Harvests Fruits and Vegetables the achievement of these goals will require effective
relations with the target audience, which will be done through interaction on social media,
measures to increase client traffic in the Company's platforms offices and lines together with the
active conversion of prospects to clients. The first six months of the Company's marketing plan
rollout will have dominated all the necessary a...


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