SEM.3 ENTRENEURSHIP PRACTICAL ASSIGNMENT

GLS UNIVERSITY’S

FACULTY BUSINESS ADMINISTRATION (GLSBBA)

PRACTICAL ASSIGNMENT 2019-20

SY BBA: SEMESTER III

SUBJECT CODE: CORE COURSE: 170101304

 ENTREPRENEURSHIP PROCESS AND BEHAVIOUR

The group can choose between Assignment A and Assignment B

ASSIGNMENT A: Detail Submission (10 marks) + short viva (5 marks)

·        Each group would be of 10 members each

·        Each group would be given one of the following topics

1. Search the business press (Business Week, Fortune, The Wall Street Journal, and others) to identify future entrepreneurial opportunities. These opportunities may meet any of Schumpeter’s criteria.

·        What different options would an entrepreneur have in developing these opportunities?

·        Could you develop these?

·        Distinguish between the opportunities of which you could take advantage and those that you could not, even though others might be able to.

 2. Interview an entrepreneur. Find out what “rules” he or she followed to become a successful entrepreneur. Ask your entrepreneur if he or she agrees with Sam Walton’s rule 10.

(TO BE CONTINUED….)

Rule 1: Commit to your business and believe in it. Rule 2: Share your profits with your partners (employees). Rule 3: Motivate your partners, challenge them, and keep score. Rule 4: Communicate everything. Rule 5: Appreciate your associates with wellchosen words. Rule 6: Celebrate your successes. Rule 7: Listen to everyone and get them talking. Rule 8: Exceed your customers’ expectations. Rule 9: Control your expenses. Rule 10: BREAK ALL THE RULES. Swim upstream. Go the other way.

 3. Interview a government official in your city or county. How does this person view entrepreneurship? What does the government do to encourage or discourage entrepreneurship? Why do they do this?

4. Read a non business book or article about entrepreneurship. (Hint: Go to the library.) Or see a video that depicts entrepreneurs in action. How is entrepreneurship treated in this material? How does it complement or add to the economic and managerial approach we take in the business school?

5. Construct your own entrepreneurial resume. This resume should emphasize your entrepreneurial experience, skills and abilities. The format should be:

• Name and contact information at the top

 • Entrepreneurial objective next

• Body of the resume: List your experience, most recent to earliest in this section. Emphasize things that are entrepreneurial. Words that are entrepreneurial descriptors include: initiated, founded, developed, designed, created, originated, organized, implemented.

• References. Show off your connections and list influential people you might know or might know you.

6. Here is a list of problems to help students develop a business idea. Perform an environmental analysis on one of these and then develop five business ideas that would help solve the problem.

·        Traffic in big cities is too heavy during rush hour.

·        Cybercrime is spreading.

·        There are so few chances for married people to have some time to themselves.

·        Older people complain about their aches and pains all the time.

·        Getting documents (licenses, permits, certificates, etc.) from the government takes forever.

(TO BE CONTINUED….)

·        Public and municipal services are constantly deteriorating.

·        It is a bother to make a good cup of coffee in the office.

·        Children play too many violent video games.

·        Minor surgery is only minor when someone else is having it.

·        Too many people do not really understand the value of an online degree program.

7. developing a business idea

 1. Exercise envisioning. Sit in a quiet and dark room and begin to think about what kind of business you would like to start. Close your eyes and let your mind’s eye see yourself working in that business. What do you see? Is it a manufacturing business, a service or retail outlet, a construction site, or something else? Notice the physical setting and the people. What are they doing? Which are employees and which are customers? Are the people happy? Busy? Confused?

2. Develop 20 ideas for a new business. Make the 20 ideas into 100 ideas, no matter how unusual or apparently strange. Sort the ideas into the 10 best, and make the concepts more original. At the end of the exercise, you should have 20 to 30 truly creative new business ideas.

 3. For each of the group or individual’s best ideas, do the following short assignment:

 a. Describe the business in 25 words or less. The description should include the product/service, the customer, and the technology employed.

b. Describe the opportunity that you believe this business exploits. In other words, why do you think this is a great business idea?

 c. Describe the resources you believe you would need to execute this new venture idea.

d. What  will be the source of competitive advantage?

e.. Estimate how much money it would cost to actually get this business started. The estimate will be very rough, but try to make an educated guess.

Or

ASSIGNMENT B: Social Welfare Project / Live Action Project   (10 marks) + short viva (5 marks)

The Group can pick up one unorganized sector set up and work closely with them firstly to understand their business functioning and secondly could apply the technical skills they possess practical and bring solution to daily life/ existential issues the business might be exposed too

ASSESMENT DETAILS	MARKS
Presentation ( I,II )	10 MARKS
Write up (I,II )	05 Marks
Theory Assignment	10 Marks
TOTAL	25 Marks