CAPITAL UNIVERSITY OF SCIENCE AND TECHNOLOGY

FACULTY OF MANAGEMENT AND SOCIAL SCIENCES

DEPARTMENT OF BUSINESS ADMINISTRATION
MBA PROFESSIONAL PROGRAM (June-2020)

QUIZ NO 01

QUESTION ANSWER

SUBMITTED TO

SIR DR M ISHFAQ KHAN

SUBMITTED BY

MUHAMMAD ISHFAQ BMBE183015

QUESTION NO 01:
What do you understand from the concept of Entrepreneurship? You are
required to explain it with at least five examples. You may also use the
images/figure/diagrams in examples for the clarification of Entrepreneurship.
(Instruction: keep example simple)?
ANSWER:
Concept of Entrepreneurship:
Entrepreneurship is the act of setting out on your own and starting a business instead of working
for someone else in his business. While entrepreneurs must deal with a larger number of
obstacles and fears than hourly or salaried employees, the payoff may be far greater as well.
TIPS:
Entrepreneurs must deal with a larger number of obstacles and fears than hourly or salaried
employees, but the payoff may be far greater. Good entrepreneurs have interest and vision, the
skills to start a business and the willingness to invest.

Interest and Vision:

The first factor for entrepreneurial success is interest. Since entrepreneurship pays off according
to performance rather than time spent on a particular effort, an entrepreneur must work in an area
that interests her. Otherwise, she will not be able to maintain a high level of work ethic, and she
will most likely fail. This interest must also translate into a vision for the company's growth.
Even if the day-to-day activities of a business are interesting to an entrepreneur, this is not
enough for success unless she can turn this interest into a vision of growth and expansion. This
vision must be strong enough that she can communicate it to investors and employees.

Many Areas of Skill:

All of the interest and vision cannot make up for a total lack of applicable skill. As the head of a
company, whether he has employees or not, an entrepreneur must be able to wear many hats and
do so effectively. For instance, if he wants to start a business that creates mobile games, he
should have specialized knowledge in mobile technology, the gaming industry, game design,
mobile app marketing or programming.

Financial and Emotional Investment:

An entrepreneur must invest in her company. This investment may be something less tangible,
such as the time she spends or the skills or reputation she brings with her, but it also tends to
involve a significant investment of assets with a clear value, whether they be cash, real estate or
intellectual property. An entrepreneur who will not or cannot invest in her company cannot
expect others to do so and cannot expect it to succeed.
Organization and Delegation:
While many new businesses start as a one-man show, successful entrepreneurship is
characterized by quick and stable growth. This means hiring other people to do specialized jobs.
For this reason, entrepreneurship requires extensive organization and delegation of tasks. It is
important for entrepreneurs to pay close attention to everything that goes on in their companies,
but if they want their companies to succeed, they must learn to hire the right people for the right
jobs and let them do their jobs with minimal interference from management.

Risk and Rewards:

Entrepreneurship requires risk. The measurement of this risk equates to the amount of time and
money you invest into your business. However, this risk also tends to relate directly to the
rewards involved.
An entrepreneur who invests in a franchise pays for someone else's business plan and receives a
respectable income, while an entrepreneur who undertakes groundbreaking innovations risks
everything on an assumption that something revolutionary will work in the market. If such a
revolutionary is wrong, she can lose everything. However, if she is right, she can suddenly
become extremely wealthy.

EXAMPLE NO 01:

Walt Disney co-founded the Walt Disney Company, one of the leading motion picture studios.
He was also the visionary of theme parks like Disneyland and Walt Disney World. His brand
started with the creation of the Mickey Mouse character and eventually expanded to include
characters like Snow White, Cinderella and more. As an entrepreneur, he had to overcome
adversity with challenges such as people stealing his work, commercial failures and more.
However, he kept pushing through staying committed to his vision.

EXAMPLE NO 02:
Mark Zuckerberg created several products before building Facebook. He created an instant
messaging tool that his father used in his dentistry practice to communicate with his receptionist.
Zuckerberg also created music software that Microsoft and AOL were interested in buying even
though he was only a teenager. Within the year he first founded Facebook, he had already had 1
million users. Today, Mark Zuckerberg has a net worth of $68.3 billion.

EXAMPLE NO 03:
Sara Blakely first started her Spanx brand in 1998. She was one of the first creators of
women’s leggings. Her brand specializes in shapewear and also includes bras, panties, hosiery
and more. She’s also the inventor of arm tights which allows women to wear their summer
clothing year round. At one point, Blakely was the youngest self-made female billionaire.
EXAMPLE NO 04:

Steve Jobs' vision of a "computer for the rest of us" sparked the PC revolution and made Apple
an icon of American business. But somewhere along the way, Jobs' vision got clouded -- some
say by his ego -- and he was ousted from the company he helped found. Few will disagree that
Jobs did indeed impede Apple's growth, yet without him, the company lost its sense of direction
and pioneering spirit. After nearly 10 years of plummeting sales, Apple turned to its visionary
founder for help, and a little older and wiser Jobs engineered one of the most amazing
turnarounds of the 20th century.

The adopted son of a Mountain View, Calif., machinist, Steve Jobs showed an early interest in
electronics and gadgetry. While in high school, he boldly called Hewlett-Packard co-founder and
President William Hewlett to ask for parts for a school project. Impressed by Jobs, Hewlett not
only gave him the parts, but also offered him a summer internship at Hewlett-Packard. It was
there that Jobs met and befriended Steve Wozniak, a young engineer five years his senior with a
penchant for tinkering.

After graduating from high school, Jobs enrolled in Reed College in Portland, Ore. but dropped
out after one semester. He had become fascinated by Eastern spiritualism and took a part-time
job designing video games for Atari in order to finance a trip to India to study Eastern culture
and religion. "Steve was difficult but valuable," Atari co-founder Nolan Bushnell told the San
Jose Mercury News. He was very often the smartest guy in the room, but he let people know
that." By not showering for days and constantly criticizing his co-workers, Jobs alienates so
many colleagues that Bushnell forced Jobs to work the overnight shift so as not to interact with
other workers.

EXAMPLE NO 05:
Arianna co-founded the Huffington Post in 2005 and built it into a profitable $30 million
business over six years.  In the process, she helped create 200+ jobs, raise $35+ million of
capital, and build a nationally recognized brand.  She also invented a whole new kind of media
business, one built from the ground up to take advantage of the digital medium, one that cleaned
the clocks of dozens of richer, more powerful, and better-branded competitors.  Along the way,
Arianna also fought off a steady fusillade of griping and naysaying from those who dismissed
her ideas as trash, theft, and idiocy, eventually overcoming these criticisms and
building Huffington Post into an establishment brand.
QUESTION NO 02:
What do you understand from the concept of business IDEA? You are required to explain it with
at least five examples. You may also use the images/figure/diagrams in examples for the
clarification of business IDEA. (Instruction: keep example simple)?

ANSWER:
Concept of business IDEA:
An idea for a business that includes basic information such as the service or product, the target
demographic, and a unique selling proposition that gives a company an advantage over
competitors. A business concept may involve a new product or simply a novel approach to
marketing or delivering an existing product. Once a concept is developed, it is incorporated into
a business plan.

1. Examples of Food Business Ideas:

So, you’ve decided to start a food business, but how do you differentiate yourself? What are
successful food businesses doing to put themselves a topping or two above their competitors?
When starting your food business ensure you incorporate the lessons from these companies to
ensure your food business idea is a success.

2. Examples of Home Service Business Ideas:

Everyone is busy these day. After work, no one wants to have to climb up on a ladder to try and
fix a hole in the roof or a shorting light fitting. This creates a business opportunity for you. Here
are 10 home service business ideas and examples of successfully operating businesses.

3. Examples of Personal Trainer Business Ideas:

There is a growing number of people looking for an interesting way to get their daily/weekly
dose of exercise in. You can offer an innovative personal trainer business idea to capture their
interest and continue to engage them. Before you launch, it’s always beneficial to find out what
your competition are up to. Find some examples of personal trainer business ideas here.

4. Examples of Childcare Business Ideas:

Parents sometimes need help looking after their children, no matter what age. If you have
experience with children and a youth development, education or caretaking qualification, you
can start your childcare business idea. Here are 10 examples of childcare business ideas you can
use to get your business off the ground.
5. Examples of Educational Business Ideas:

There is a growing emphasis on students to improve and increase their education and on adults to
continue improving their education. With this solid demand in the educational industry, you can
launch a business either improving on skills or teaching brand new skills.

QUESTION NO 03:

What do you understand from the concept of business Opportunity? You are required to explain
it with at least five examples. You may also use the images/figure/diagrams in examples for the
clarification of business Opportunity. (Instruction: keep example simple)?

ANSWER:
Concept of business Opportunity:
A business opportunity is a consumer need or want that can potentially be met by a new
business.

Sources of opportunities include:

Problems:
Many well-known companies were started because an entrepreneur wanted to solve a problem.

Change:
Our world is continually changing. Change often produces needs or wants that no one currently
meeting.

New Discoveries:
The creation of totally new products and services can happen by accident.

Existing Product and Services:

You can get ideas for opportunities from businesses that already exist by looking for ways to
improve a product significantly.

Unique knowledge:
Entrepreneurs sometimes of turn one of a kind experiences or uncommon knowledge into
product or service that benefits others.

1. Business Opportunity Examples – Travel:

Hotel Et: Reaches out to businesses all around the globe on a daily basis and negotiates a
discount not available to the public. If the business accepts the offer, they are loaded into a
system of over 1 million deals. They provide the training and support, you provide the drive.
You can help families and people take the vacation they deserve.
Coastal Travel: you will market a line of three travel products that allow our clients to plan their
own vacations and save up to 75% off the best internet price. We are looking for individuals we
can teach this business to, so they can market these products and earn $1,000, $3,200, or $9,705
depending on which product their client chooses to purchase.
Cruises Inc. offers you the flexibility to work when you want, where you want, and how often
you want. They provide all the training and support, so you have the tools to make a commission
on the sales of exciting cruise, tours, and resort vacations.

2. Business Opportunity Examples – Finance:

GetBizFunding.com helps business owners and entrepreneurs achieve their dream by providing

loans and financing to start-ups and existing businesses. They’ll train you and offer you support
to help you become a finance agent and earn income.

Charter Financial is a national purchaser of owner financed real estate notes. They teach you
how to be a referral agent for the business so you can these types of notes. The average fee per
transaction is a little over $3,000+.

Virtual Financial Group allows anyone, regardless of experience to break into the life
insurance industry. They provide training and support to help you get licensed to take advantage
of this booming industry.

Profit Architects, Inc. training provides the best education to become a successful Business
Broker and Business Consultant. We are seeking individuals who want to be their own boss and
are interested in an opportunity earning $100,000+ per year as a home based Business Broker,
Business Consultant and Money Broker.

Be-Biz-Broker will teach you everything you need to help business seekers and owners buy and
sell their businesses.  We will help you establish your Business Transfer Consulting practice
easily out of your home or expand your current practice! Business Transfer Consulting doesn’t
require you to have an office, staff or specialized equipment.
3. Business Opportunity Examples – Technology:

Advanced Interactive Marketing System allows you to sell advertising space to local area
businesses with little to no selling! It can all in one digital advertising display network and phone
charging station – customers charge phones while they eat!

IXQTV simply refer people to the IXQtv Streaming TV Service. You earn $10 to $20 when they
join and then $10 to $15 on each referral Every Month! There are NO LIMITS on how many
people you can refer! This industry is on the rise, get in now!

Blast is a text marketing platform which allows businesses to text messages and promotions to
their subscribers.  Start Your Own Business in Text Marketing! You can work from anywhere,
creating a recurring revenue stream and helping your clients grow their business with Text.

Rely Circle is the world’s first rewards-based referral marketing social selling network that gets
businesses more customers by tracking and incentivizing successful referrals.  You will make
money by helping your local businesses grow!

The Local Project is driving network expansion and growth in specific regions in the USA.
You can earn anywhere from $50,000 to $250,000 per year.

4. Business Opportunity Examples – Health and Wellness:

Care Lumina is a health and beauty direct selling company and is looking for leaders to become
top Brand Ambassadors. Work from home; part time or full time or from anywhere around the
world. We provide complete training and leads so no sales experience is needed to build your
global beauty company.

Vasayo has been strategically designed from its inception to learn from the past and leverage the
present so that we can take advantage of the future.  Vasayo products feature Advanced Delivery
Technology to offer you quality ingredients PLUS an exceptional delivery system…because you
don’t want one without the other!

HempWorx produces CBD products made with organic hemp grown in Kentucky and are 100%
free of any synthetic or artificial ingredients. They give you a replicated landing page with high
conversions and full-time support with whatever you need. Start selling and cash in on the
emerging $7.1 Billion Cannabis industry!

Zurvita Home-Based Business Opportunity will give you the tools to earn a minimum of
$1200 and qualify for a new car in 30 days or less. Their nutrition products sell themselves,
making this something you don’t want to miss.

5. Business Opportunity Examples – Food and Drink:

Salad Master is in the business of making life better. You will be in a business where the market
is thriving and more people care about their vitality and continue to get healthier every year.
Salad master is a proud member of the Direct Selling Association (DSA) and is one of the
longest operating and most respected companies in the direct sales industry.

Local Foodie (Text Message Ads) gives you the opportunity to launch your own local
advertising business that generates a recurring monthly income.

QUESTION NO 04:
What do you understand from the routes to entrepreneurship? You are required to explain it with
at least five examples. You may also use the images/figure/diagrams in examples for the
clarification of business routes?

ANSWER:
Routes to entrepreneurship
One of the main goals of the current knowledge transfer model is the creation of companies that
exploit the knowledge generated at universities.  Currently, this is one of the best existing
knowledge transfer models, since it not only helps exploit research results, but it also enriches
the local industry and helps UGR graduates enter into the labor market.
The objective of the "Tithe Route of Entrepreneurship" is to foster entrepreneurial culture among
the university community, and promote and facilitate the development of business projects.
"The Route of Entrepreneurship" is composed of three phases that require increasing
involvement of participants. "The Route of Entrepreneurship" offers some guidance on the
different aspects of entrepreneurial culture and provides the participants with the tools necessary
to develop their entrepreneurial skills. Below you can find a general description of the three
phases.
1. A tour around the business incubator and accelerator BIC located at the Healthcare
Technology Park of Granada (one morning). Firstly, participants are shown on-site the
mechanisms and organisms involved in the creation of a company, then an entrepreneur give a
short talk on his/her experience. Next, a visit is organized to different companies of your area of
interest for you to learn from the experiences of other entrepreneurs.
2. Workshops for entrepreneurs (two days). Specific workshops focused on motivation and skill
development are organized for those who showed interest during the first phase.
3. Training courses (five days). Those needing a more comprehensive training are offered an
advanced course on business creation, business operation plan design, practical cases,
simulations, etc.