MGT601 Assignment 1 Solution and Discussion

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Assignment
SME Management (MGT601)
Fall 2019
Due Date: 24 January, 2020.
Total Marks: 10
Topic: TECHNICAL AND MARKETING FEASIBILITY OF THE IDENTIFIED PROJECT
Leaning objectives: To make students explain how SME could evaluate the new venture opportunities.
Learning Outcome: Students will comprehend the identification of new venture opportunities, reasons of failure and process to assure the market opportunities of a product.
Background:
The challenges of starting a new enterprise from the stage of its conception to functioning are multidimensional. A crucial task in starting a new business enterprise is the systematic analysis and evaluation of its feasibility and long term profitability. A study relating to the reasons for failure of new ventures has found that most of the factors underlying the failure lie within the control of entrepreneur. There is a need to undertake a comprehensive feasibility study in some areas especially the marketing feasibility of the new venture.
Case:
Mr. Omer Khan, started his new business of designer dresses. He had no experience in the production of fashion clothing and running a business. His only expertise is designing dresses, so he put all his budget and effort on designing dresses. Due to the low budget of his startup, he did not hire a marketing manager and did marketing according to his limited knowledge. He hired a few interns to generate sales from local markets. In a few months of his startup of designer dresses, the business failed and he was not able to achieve his sales target.
Requirement:
Being a student of SME management you need to give answers to the following questions.
Question:
What are the reasons for the failure of his new venture of designer dresses?
What are the processes which may be adopted to assure the market opportunities/market feasibility of his designer dresses?
Note: Provide at least 4 reasons for the failure of his new venture and 4 points in the processes that may be adopted to assure the market opportunities for his product.
Marks: 4 (reasons of failure) + 6 (four steps in processes to assure the market opportunities)
IMPORTANT:
24 hours extra / grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience

Instructions:
2. Write precise and to the point answer and avoid un-necessary details.
DEADLINE:
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”. • It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only. RULES FOR MARKING
Please note that your assignment will not be graded or graded as Zero (0), if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc. It is
cheated or copied from other students, internet, books, journals etc.
NOTE RELATED TO LOAD SHEDDING: PLEASE BE PROACTIVE
Dear students,
As you know that load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

1. Read the content given on Page No. 47 in lesson No. 16 of the handouts to grab the concept of
   “TECHNICAL AND MARKETING FEASIBILITY OF THE IDENTIFIED PROJECT”

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MGT601 Assignment 1 Solution and Discussion