BUS227 MID SEM, ESSAY PART

WRITE UP

BY- Bhavdeep Singh Mann

Due Date- 21 Feb

Submitted on- 21 Feb

Student ID- 300187051

CRN-13062

Phone Number- 7080813128

Email- [email protected]

Class- Monday 9:30 AM class

 ACKNOWLEDGEMENT

I want to give a special gratitude to my professor, Dr.

Shyam Vyas whose contribution in stimulating
suggestions and encouragement. Therefore he also
invested his full effort in guiding me to achieve the goal
helped me to coordinate and complete my write up
Certificate of Originality

This is to prove that the content contained in this document and future content is
the original work of our group and has not been plagiarized in any way. In
addition, we would like to declare that we –

1) Have used my own words only

2) Have not copied from any source

3) Have not plagiarised

4) Have cited all the sources from where adapted or quoted in the submission
Answer 1
1.0- According to a report by Orios Venture Partners, Indian entrepreneurs raised
$42 billion in 2021, up from $11.5 billion the previous year. According to the 'The
Indian Tech Unicorn Report 2021,' India will have 46 unicorns (businesses valued
at $1 billion) in 2021, more than tripling the overall number to 90.

ShareChat, Cred, Meesho, Nazara, Moglix, MPL, Grofers (now Blinkit), upGrad,
Mamaearth, GlobalBees, Acko, Spinny, and other services are among them.
According to government numbers released on Friday, India's economy shrunk
7.5 percent in the three months ending in September compared to the same
period a year ago. The figures show that India is in the midst of its worst recession
since at least 1996, when the country began releasing its gross domestic product
figures.
Despite massive government investment aimed at rescuing the thousands of
small firms severely harmed by India's extended, hurriedly imposed shutdown,
the latest data solidified India's status as one of the world's worst-performing big
economies. Job losses at SMEs will almost certainly be greater in the aggregate.

Given the magnitude of the Covid-19 pandemic, it is crucial to understand

entrepreneurs' experiences in these trying times, as well as their views for the
medium and long term, in order to continue and support this vital sector of the
global economy.

1.1- Benefit: Financial Gains

One of the most appealing aspects of owning a business is the potential for
greater financial benefits. Successful business entrepreneurs might earn more
money in exchange for the risks they take. A $15-per-hour tax preparer is aware
that the firm he works for charges several hundred dollars for the job he offers.
When an employee believes his worth exceeds the pay scale, starting his own
company makes a lot of sense.

1.2-

Advantage: Personal Growth and Satisfaction

Building a successful new firm gives business owners a great deal of personal
gratification. For some, starting a business is the realisation of a long-held desire.
It enables people to progress beyond a certain skill set and learn business and
leadership abilities that lead to continued personal development, pride, and joy.

Financial Risk is a disadvantage.

One of the most significant hazards of having a business is losing money. There
are materials and business establishment expenditures to consider, as well as
monthly commitments. The cost of doing business varies based on the type and
size of the company. When launching a firm, many entrepreneurs take out a loan,
which means they are in debt from the start while also striving to create revenue.
Commitment of Time

A time commitment is required when starting a business. The flexibility to work

on your own schedule and live your own life is available, but it is frequently
surrendered in order to maintain the success of the company. So, while a business
owner may be able to attend his child's baseball game, he may still work a
standard 90-hour work week.

Pierre Omidyar's style of doing things. On his personal website, a computer

programmer began auctioning off items in 1995. AuctionWeb, as it was then
known, was primarily a personal endeavour, but when the quantity of online
traffic necessitated upgrading to a commercial Internet account, Omidyar was
forced to begin charging users fees. To manage all of the payment checks, he
recruited his first employee. eBay is the new name for the site.

The path of Don Vultaggio and John Ferolito. A couple of Brooklyn pals
established a beer distributorship out of the back of an old VW bus in the 1970s.
After seeing how good Snapple did, they decided to try their hand at soft drinks
and released AriZona Green Tea two decades later. AriZona teas are now the
most popular in America and are sold all over the world. The company is still
owned by the friends.

1.3- Components of Finance

Evaluate your own resources after learning about the investment required to
purchase an existing firm or franchise, as well as the early start-up expenditures.
The amount of personal savings you have to put to the initial investment is part of
a financial assessment. To demonstrate good faith and willingness to take a risk
with the lender, banks often need entrepreneurs to contribute a share of the
investment. When analysing your odds of success, consider the financial options
available from the seller, investors, and lenders.

Research into the market

Perform significant market research to establish the feasibility of your business so

you know exactly what you're getting into. You need to know who your
consumers are, where they are located, and what kind of competition exists in
your area, in addition to gleaning statistics on trends and existing customer
buying behaviours. Consider market research to be the initial step in opportunity
analysis, as it will assist you figure out exactly how you'll offer items or services to
a certain market.

Assessment of the Risk

A risk assessment is part of a comprehensive review of a business prospect. An

honest assessment of the potential risks associated with your new business can
assist you in anticipating issues and determining if the risks are worth the
investment. Factors that could negatively effect your business, such as the overall
state of the economy, weather events, and the competitiveness of your
competitors, are all details to examine throughout the risk assessment process.
Internal factors to consider include your personal health, the amount of financing
you have available, and the quantity and sort of personnel you'll need to run the
company efficiently.

1.4- The difficult part of the start-up has already been completed. Plans and
procedures should be in place for the company.

Purchasing an existing business ensures immediate cash flow.

The company will have a financial history, which will give you a sense of what to
expect and make obtaining loans and attracting investors easier. Existing
customers, contacts, goodwill, suppliers, staff, plant, equipment, and stock will all
be acquired. There is already a market for your product or service. Existing
employees and managers will be able to share their knowledge. The company's
antiquated machinery and equipment may require significant upgrades. You will
almost always need to put down a considerable sum of money up front, as well as
budget for professional costs such as those charged by solicitors and accountants.
The company could be in a lousy location or be poorly managed, with low
employee morale. External variables can have an impact on future growth, such
as increased competition or a decreasing sector. To turn around underperforming
enterprises, a significant amount of capital may be required. The personality of
the seller and their established ties may be a big element in the company's
success.

1.4-

A business format franchise is a franchising agreement in which the franchisor

provides the franchisee with an established business, complete with name and
logo, to operate independently.

A product franchise is a franchising agreement that allows manufacturers to

distribute items while also allowing merchants to use their names and
trademarks.

A manufacturing franchise is a licencing agreement that permits a manufacturer

to make and sell products under the franchisor's name and trademark.

Franchise terms to remember: A company's permission to sell or distribute its

goods or services in a specific area.

Regular royalty payments, expansion with less financial risk, and a larger global
presence are all advantages for the franchisor.

Reduced risk, lower startup costs, existing brand familiarity, and parent company
marketing help are all advantages for franchisees.

Potential franchisees can choose a franchise based on their location, interests,

resources, and needs, making it a flexible approach to engage into a franchising
agreement.

- Payments of royalties

Franchisee advantages include: – A better likelihood of success due to a tried-and-

true business model – Franchisor support, training, and experience

- National marketing and brand recognition

Lack of control over franchisees, reputational issues, and slow expansion through
franchising compared to mergers and acquisitions are all disadvantages for
franchisors.
High costs and royalty payments, as well as rigorous product standards and other
start-up hurdles, are all disadvantages for franchisees.

It's critical to reach an agreement with a franchisee who is interested. Franchisors

who are just concerned in collecting fees and payments from franchisees will not
give enough support.

High entrance expenses, which include fees and start-up capital, as well as annual
royalty payments, may be disadvantages for franchisees.

- Uninterested franchisors' lack of support

Steps to become a franchisor-

Determine whether or not your company is suitable for franchising.

Make sure you have the resources (both time and money) to complete the
project.

Assemble a team of experts to assist you.

Everything should be documented.

Decide on the offering.

Make a growth strategy.

Make a budget for marketing.

Create a well-defined, detailed mutual evaluation process.

Question2
I had always thought of Elon Musk as a great leader and an innovation guru. I had
nothing but respect for him. The First Order of Business Musk

The Good: He fled South Africa alone, with nothing and no one. He moved to
Canada, where he resided for a while without a fixed address until he was
reunited with his brother. They relocated to Palo Alto and launched their first
company. Before mapquest, Zip2 was basically mapquest (which was Google
Maps before Google Maps). It was eventually sold for $307 million.

The Bad: While Elon and his brother were able to build a successful firm, they had
issues with the influence of their investors. Instead of going in the B2C route that
Musk had intended for, the financiers compelled the firm to focus on media
businesses as more of a business directory. To make matters worse, Elon also had
his first merger cancelled.

Musk, the Young and Wealthy

The Good: Aside from the McLaren acquisition, Elon invested his whole fortune in
his next business, a firm that would revolutionise the banking system. People
thought he was insane at the time, and that consumers would never trust the
internet's security for online banking. X.com, his startup, was more successful
than anyone could have imagined. He even beat over PayPal, which was founded
by Peter Thiel, when the two companies decided to join, with Elon becoming the
largest shareholder.

The Bad: You might be thinking to yourself, 'Wait, I thought Elon established
Paypal?' While Elon was on his honeymoon, one of the most heinous Silicon
Valley coups of all time took place. Following that,

Question 3
The union budget will boost the startup ecosystem greatly since the government
will place a strong emphasis on investment-driven growth, which will encourage
businesses of all sizes, both public and private, to invest. Strategic investments,
divestments, and asset monetization would also be used to raise additional funds.
The government should assist startups by enacting policies and providing support
mechanisms that encourage domestic capital participation. In addition to offering
incentives for the establishment of incubators, tax breaks for FDIs, and tax relief
for entrepreneurs, 385 of the 3,100 Indian firms that were sponsored between
2014 and June 2020 have shut down, resulting in a $760 million loss. According to
a Nasscom survey, financing dried up, and over 40% of companies ceased
operations in May 2020. During the pandemic, startups faced tremendous
obstacles. Now, as the finance minister prepares to unveil the Union Budget
2022-23 on February 1st, the startup ecosystem, especially MSMEs, is anticipating
the government's choice to elevate the startup environment. Their first demand
will be for a two- to three-year volume-based GST exemption. As a result, the
government should lower the GST rate on new businesses from 18 percent to 5%
across industries. They also anticipate a widening of the market.

Question 4
In the 1990s, India transitioned from an inward-looking democratic socialist
economy that discouraged international trade/investment and allowed private
business but overregulated it to a set of market reforms that attracted foreign
investment, connected India to the global market, and allowed Indian companies
to expand internationally. In the face of new waves of policy changes,
globalisation trends, and competition from foreign investors, a wide range of
actors, both in the official (governed by government policies) and informal
(governed by market forces) sectors, juggled to secure their own niches.

The service sector was jumpstarted, entrepreneurship and innovation were

promoted, global business leaders were formed, and the jugaad phenomenon, a
distinctive Indian feature that drove Indians to strive and flourish, was
institutionalised as a result of India's upward development curve. 1 Jugaad, a
Hindi word, is commonly associated with disruptive and inventive techniques at
many levels in Indian industry, which is highly organic in nature. It is a method of
dealing with everyday difficulties faced by Indians and striving to discover
solutions without the assistance or intervention of any institution. It has allowed
Indians to not only survive, but also to develop in an overcrowded, competitive
market. "Frugal engineering" is a term used to describe it. Before colonial rule,
caste, region, and language—or religion-based business communities—ruled India
for centuries. Traditional trading patterns were disrupted, and economic power
was passed to colonial overlords, thanks to the colonists. The loss of historic
family businesses under British control led to the introduction of new banking
systems, managing agencies, and chambers of trade that seamlessly tied the
Indian subcontinent to the world economic order. The new business players were
both foreign and domestic. Sindhis and Chettiars, for example, are traditional
business communities.

Many notable names originated as a result of joint family ownership and

hereditary business. The Birlas, for example, who came from Rajasthan's ancient
business caste, began as opium and jute traders in Calcutta (Kolkata) and then
expanded into the jute, cotton, sugar, chemical, paper, and insurance industries.
Other names emerged from atypical business castes, such as the Kirloskars, who
were descended from Maharashtrian brahmins.

KUMBAKONAM BANK LTD KUMBAKONAM BANK LTD KUMBAKONAM

Kumbakonam Bank, now known as City Union Bank Ltd, was established as a
limited business on October 31, 1904. It started off with a regional focus and an
agency model, and it opened its first branch in 1930. In 1987, the name was
changed to City Union Bank.

PHOENIX MILLS LTD was founded in 1905.

In 1905, Ramnarain Ruia, the head of the Ruia business family at the time,
purchased Phoenix Mills and two additional mills to start his textiles business. The
company was registered on the Bombay Stock Exchange (BSE) in 1959, and in
1987, it expanded into real estate, constructing the well-known shopping district
of High Street Phoenix in Mumbai. Big Bazaar, India's first hypermarket, opened in
the mall in 2001.
Answer-5
When it comes to organisational growth, business development is the thread that
connects all of a company's operations or departments, assisting sales, revenues,
product offers, talent, customer service, and brand awareness. Someone in
charge of business development can help impact change and foster growth across
departments in a number of ways. Here are four reasons why it's crucial to grow
your business.

It's an important approach for increasing revenue and cutting costs. The bottom
line is one of the most popular metrics for assessing growth, and it is one of the
most common measures for measuring growth. Developing ways to help improve
the amount of money flowing into an organisation while ensuring less money is
going out is an important part of the business growth process.

It has the potential to enhance the company's overall image. Marketing is critical
to a company's success, and a business developer can assist in the development
of a stronger brand. A business developer can collaborate closely with the
marketing team to create campaigns that solidify the company's target
demographic while also expanding the company's reach to new customers and
markets.

It might pave the way for expansion into new markets. Taking advantage of new
areas of opportunity could be a successful growth strategy, and staying on top of
industry trends and prospects is an important part of business development. A
business developer can find strategies to penetrate these markets and reach new
segments of clients by examining demographics and customer data.

It might pave the way for expansion into new markets. Taking advantage of new
areas of opportunity could be a successful growth strategy, and staying on top of
industry trends and prospects is an important part of business development. A
business developer can find strategies to penetrate these markets and reach new
segments of clients by examining demographics and customer data.
Answer-6(a)
A business plan is regarded as a critical tool for any company. It is a written
document that describes in detail the nature, aims, and financial situation of a
business, particularly a new one, as well as how the business will achieve its goals.
A business plan can also be written for an existing company that is expanding its
operations or applying for a loan or funding request.

A business plan is extremely important for people who are just starting out and
developing their own company, whether it's a tiny freelance business from home
or a new venture with an office and a starting pool of employees. It's a road map,
an overview, or a document that outlines what your company is, what its
objectives are, and how it plans to achieve those objectives. So, aside from
identifying your company, what else can a business plan accomplish for you?

What is the size of your product's market? What is the rate of growth? What
percentage of the market does your product have the potential to capture?

Issues in creating a business plan-

What problem are you trying to solve? For whom are you solving it? What is your
grand plan? What do you want to be when you grow up?

What exactly is the service or product you're offering? What is the solution to the
problem? What makes it special?

Who are your rivals? What sets you apart from them? What are the segment's
entry barriers?

How do you plan to run your business?

Are you able to quantify the advantages to the customers? What is the starting
point for the price?

What stage is your product at right now?

What is your plan for entering the market? What distribution outlets do you
intend to use?
Financial estimates for the year Up to 4-5 years in the future, which should be
both optimistic and practical.

What amount of money do you hope to raise? What is it going to be used for?
How long do you think it'll last?

The executive summary is the most crucial element of your business plan, and it
may be the only one that is read, so polish it! The purpose of the executive
summary is to persuade the investor to read the whole of your business plan. His
inbox is probably clogged with business plans, and he needs to sort through them.
As a result, he's quite likely to skim through each business plan in under two
minutes and pick only the most intriguing projects. Then, when it comes to the
content, get right to the point. Introduce the idea, the team, the market, the
potential for profitability, and the financial requirements in a few paragraphs.
Don't try to cover everything in great detail; keep it high-level, and if the investor
is interested, he'll read the rest of the plan to learn more.

Answer6-(b)
The product category we've chosen is a hybrid of real estate and hospitality, with
a strong focus on restaurant-style bakery/café operations.

The geographic location of the café will be emphasised heavily, as the goal is to
develop and control the area with low competition while also giving the highest
quality product/service to attract the attention of the neighbouring communities.
The café's main offerings will be bakery items, but it will also cater to clients' fast-
food needs. The group members have strategized that moderate to high volume
specialised client areas, especially alongside/near the highway, such as
Kalka/Pinjore, would be ideal. focusing on a specific type of customer

• THE BUSINESS INDUSTRY AND PRODUCT CATEGORY HAVE BEEN FIRMLY

STATED

• A GEOGRAPHICAL LOCATION HAS BEEN DETERMINED FOR THE BUSINESS

My contribution to the group is that Ive arranged talks and meetings with the NPS
and made efforts to learn from the NPS

Question-7
In my opinion, Elon Musk is the true entrepreneur, Elon Reeve Musk FRS is a
business mogul and entrepreneur. He is the founder, CEO, and Chief Engineer of
SpaceX, as well as an early-stage investor, CEO, and Product Architect of Tesla,
Inc., the founder of The Boring Company, and a co-founder of Neuralink and
OpenAI.

qualities and qualifications would tend to indicate that a person may become a
successful entrepreneur are- Passion. Entrepreneurs are usually tremendously
enthusiastic about their work. Motivation. Knowledge of the product or service.
Risk management is the management of risks. Self-confidence. Money
management is an important skill. Ability to make decisions based on vision.

Entrepreneurship is a powerful force that propels economic growth, productivity,

and job creation. Countries with a high level of entrepreneurial activity have a
higher economic growth rate. Small firms account for 97.9% of all enterprises in
Canada, producing over half of all GDP created by the private sector, according to
the Government of Canada. Small businesses employ more than 8.4 million
Canadians, making them the country's largest employer. Small businesses are vital
because they give opportunity for entrepreneurs and meaningful jobs with higher
work satisfaction than jobs in bigger, typical enterprises. They boost local
economies by keeping money close to home and supporting communities and
neighbourhoods.

Successful business owners do so much good – both nationally and locally – that
the value of their contributions cannot be assessed solely in monetary terms.

The entrepreneur is both a resource and a person in their own right. The
successful businessman or woman, who is likely to have developed a notable
product or service, grown a significant client base, and made a profit during a
period of global financial doom and gloom, has a wealth of insight, intellect, and
inventiveness to share.

Almost every firm now has a code of ethics. Part of this is due to the fact that
technology and digital communication have made it simpler to spot and broadcast
ethical blunders. Companies are dedicating greater resources on corporate ethics
in order to avoid unwanted consequences. According to one survey of
accountants, 55 percent believe the relevance of corporate ethics will increase in
the next three years. Companies are creating ethical workplaces through
employing the right individuals, in addition to developing formal processes.
According to a recent survey, "high integrity and honesty" is the second-most
crucial characteristic for corporate executives. Today's business leaders must
comprehend the relationship between corporate ethics and success.