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This Assignment 3 extension of Assignment 1 , in attachment 2 files , the file assignment 3 (is a requirement ) but Assignment 1 extension. more important, I need at least 6 references.
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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-1
MGT 402-Entrepreneurship and small business
Due Date: 14/10/2023 (End of Week-7) @ 23:59
Course Name: Entrepreneurship and
small business
Student’s Name: Aseel Silsilah
Course Code: MGT402
Student’s ID Number: s180218799
Semester: First
CRN: 13881
Academic Year: 2023-24
For Instructor’s Use only
Instructor’s Name: Abdulrahman I. Almanie
Students’ Grade: /10
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.
• 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
• Place of Submission is Blackboard.
• Weight 10 Marks
Learning Outcomes:
1. Describe the place of small business in history and explore the strengths and weaknesses of
small business.
2. Design a solid projected financial plan and conduct a breakeven analysis for a small company.
3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner.
4. Illustrate the ability to think independently and systematically on developing a viable business
model.
Assignment Workload:
This assignment is an individual assignment.
An entrepreneur Start-up
Business Plan
A business plan is any simple plan, not only limited to the business start-up plan that helps the
management to understand the current situation of the enterprises (strengths, weakness,
opportunities and threats) and look forward into the future. A start-up plan is a business plan which
consists of the mission, vision, objectives and action plans for the future of the new enterprises
while the business plan drawn during the operation of the firm is vital for running the firm
effectively, acquire new customers, partners, loans and so on. According to Fiore (2005), a
business plan involves two dimensions; an organizing tool to simplify and clarify your business
goals and strategy, the second one is a selling document that sells the business idea and shows that
a product or a service can make a profit and attract funding and company resources.
Imagine you started a new business as an entrepreneur in Saudi Arabia. Briefly mention the
specific steps which you consider necessary to a successful business plan.
Please, think and share information on the following items:
1. Owners, capital structure and company profile (2 Marks)
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 (4 Marks)
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 (4 Marks)
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.
•Who is your competition and how do you beat them?
Note: Use APA style of referencing
Answers:
1.
Business Name: Prospect Energy Solutions
Address: Riyadh
Email: [email protected]
Form of Ownership: Partnership
Investment Capital: 500,000 Saudi Riyal
2.
A
Prospect Energy Solutions is an eco-friendly products and services business that targets the
Kingdom of Saudi Arabia’s solar energy market. This business primarily focuses on solar energy
solutions, whereby we offer customized solutions to our clients through solar panel installation,
maintenance, and consulting services. The KSA’s growing interest inspires Prospect Energy
Solutions’ business idea in renewable energy and abundance of sunlight, two reasons making this
business a lucrative venture. As such, the business offers solar energy products and consulting
services to its customer base. However, we not only stop at the basic sale of products and services;
our business goes further and offers complementary services such as energy efficiency services,
financing options, and maintenance and support. This, together with our exceptional customer
service, makes our business stand out among competitors.
Mission Statement: Prospect Energy Solutions’ mission is to transform lives, businesses, and
communities in the KSA by harnessing the sun’s power and pioneering sustainable energy
solutions that empower clients to embrace a cleaner, more eco-friendly future aligned with the
KSA’s sustainable development goals.
The business’s short-term goals are primarily to lock on market penetration, establish a
customer base, and strengthen our online presence in the KSA’s solar energy products and services
market. These goals align with our long-term view of becoming the leading company in the
kingdom’s solar energy sector. In addition, we aim to diversify our portfolio and expand
internationally in the long term.
Our primary target market is residential, commercial, and industrial clients seeking to
embrace the kingdom’s initiatives to promote clean and affordable energy. Residential client
demographics include homeowners or renters who live in primarily urban and suburban areas
where electricity is costly; our solutions would offer them a chance to save costs and energy
independence. On the other hand, commercial clients’ demographics include urban and suburban
retail, hospitality, and healthcare businesses that aim to reduce operating costs by increasing their
energy efficiency and sustainability. Lastly, our industrial clients include large-scale industrial and
manufacturing companies in industrial zones and with heavy energy consumption; solar energy is
a viable way for these companies to reduce their energy costs.
B
The most important thing to me in this business lies in its capacity for a positive
environmental impact by attracting environmentally conscious clients. This is key in furthering the
kingdom’s commitment to sustainability and reduction of carbon emissions. The KSA’s energy
industry is predominantly oil-based. However, with the government’s strive to reduce oil
dependency, renewable and alternative energy sources are becoming mainstream. In particular, the
government’s vision is to increase renewable energy production to 5.9 gigawatts by 2030
(“GOV.SA,” 2023). This depicts the lucrativeness and growth that the renewable energy sector is
exposed to. This is in addition to developing technologies such as electric vehicles or the megacity
called Neon, which has been dubbed a futuristic city that will be “operated by smart technologies,
artificial intelligence, and solar energy” (Kosarova, 2020). Furthermore, today’s policies and
raised climate goals are driving the shift towards renewable to new records (“International Energy
Agency,” 2021). Also, the decreasing costs of renewable energy continue to fuel its explosion in
the global and local energy sectors (Jaeger, 2021; “United Nations,” n.d.). All these constitute an
ensemble of changing factors that will fuel the renewable energy sector today and in the future. As
such, our company is placing itself at the core of this disruption in the predominantly oil-based
energy sector by penetrating the market when it is still young and hoping to grow with it.
Our business’s core competencies lie in our pursuit of innovation and empowering
customer approach. We strive to relentlessly pursue the latest advancements in solar technology
to offer state-of-the-art solutions that maximize energy production and efficiency for our clients.
This, coupled with empowering our clients with the knowledge, resources, and financing options,
constitutes the backbone of our strengths and competitive strategy. In addition, the partners’
adeptness in entrepreneurial and management skills helps in decision-making and leadership.
SWOT
Strengths:
•
Our tailored or customized solutions for clients.
•
Adequate management.
Weaknesses
•
High initial solar installation costs may deter clients (Guangul & Chala, 2019).
•
Solar energy is dependent on weather.
Opportunities
•
Renewable energy market growth.
•
Government initiatives that seek to expand renewable energy.
Threats
•
Rapid technological disruption.
•
Regulatory changes
•
Intense competition in the local and international renewable energy industries.
Our competition is primarily locally established businesses providing similar renewable energy
products and solutions. Other competitors are those in the same business internationally, especially
those who have already entered the Saudi Arabian and Middle East renewable energy markets.
Our competitive advantage involves extensive comprehension of the local market, culture, and
regulatory landscape. This will make it easier for us to follow regulatory procedures, adapt our
services to specific regional demands, and cultivate long-lasting partnerships with our clients and
partners. Being a local player helps us build confidence and trust with prospective clients. We can
use our knowledge of local weather conditions, grid infrastructure, and government incentives to
provide more accurate assessments and recommendations.
References
Gov.Sa. (2023). Sustainable Development.
https://www.my.gov.sa/wps/portal/snp/content/SDGPortal/!ut/p/z0/04_Sj9CPykssy0xPL
MnMz0vMAfIjo8zi_QxdDTwMTQz93YMt3AwCzXyMg1wMAw0NLA31g1Pz9AuyH
RUBEXub1w!!/
Guangul, F. M. & Chala, G. T. (2019). Solar Energy as Renewable Energy Source: SWOT
Analysis. Research Gate. DOI:10.1109/ICBDSC.2019.8645580
https://www.researchgate.net/publication/331266856_Solar_Energy_as_Renewable_Ener
gy_Source_SWOT_Analysis
International Energy Agency. (2021). Renewable electricity growth is accelerating faster than
ever worldwide, supporting the emergence of the new global energy economy.
https://www.iea.org/news/renewable-electricity-growth-is-accelerating-faster-than-everworldwide-supporting-the-emergence-of-the-new-global-energy-economy
Jaeger, J. (2021). Explaining the Exponential Growth of Renewable Energy. World Resources
Institute. https://www.wri.org/insights/growth-renewable-energy-sector-explained
Kosarova, D. (2020). Saudi Arabia’s Vision 2030. Research Gate.
https://www.researchgate.net/publication/346531524_SAUDI_ARABIA’S_VISION_203
0
United Nations. (n. d.). Renewable Energy – Powering A Safer Future.
https://www.un.org/en/climatechange/raising-ambition/renewable-energy
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-3
MGT 402-Entrepreneurship and small business
Due Date: 02/12/2023 (End of Week-7) @ 23:59
Course Name: Entrepreneurship and
small business
Student’s Name:
Course Code: MGT402
Student’s ID Number:
Semester: First
CRN: 13881
Academic Year: 2023-24
For Instructor’s Use only
Instructor’s Name: Abdulrahman I. Almanie
Students’ Grade: / 10
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.
• 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
• Place of Submission is Blackboard.
• Weight 10 Marks
Learning Outcomes:
1. Describe the place of small business in history and explore the strengths and weaknesses of
small business.
2. Design a solid projected financial plan and conduct a breakeven analysis for a small company.
3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner.
4. Illustrate the ability to think independently and systematically on developing a viable business
model.
Assignment Workload:
This assignment is an individual assignment.
Start-up Business Plan
Assume yourself as an entrepreneur of a small-scale business in Saudi Arabia.
(In Continuation to the Assignment -1)
3. Products and Services (4 Marks)
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 (6 Marks)
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.
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?
Distribution Channels
How do you sell your products or services?
Answers:
1.
2.
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