Assignment on entrepreneurship

Submitted to

Sir

Hammad Hassan
Submitted by
Muham mad Huzaifa Anee s Ahmad Class 4th Section MBA E

Institute of business and management sciences

University of agriculture faisal abad

Entrepreneurs are achievers

Having dealt with entrepreneurial competencies at some length, and other factors that were discovered from life and work of the successful entrepreneur one would like to , conclude that , being an entrepreneur ,at that , was not necessarily the specially preserve of some special sort of people , any body embark on entrepreneurial ventures and indeed succeed. The roots lied in will of such people. Everyone had the potential. Some would need it for making a living, and some would be fired by need to achieve something and be somebody in life .

Setting up and running small business

Whereas personality of entrepreneur mattered a lot , yet for the success of business ventures, the following practical measures, in different combinations , would be extremely relevant and crucial for success. Selecting a name Location Layout Product range Displays Employee behavior Service Customer handling Convenient hours inventory management pricing promotion control system

introduction of business
Commercial embroidery is a new business introduced in Pakistan a few years ago. There is a lot of potential in this business because of less number of factories in the market and an increasing demand of embroidery in local as well as international market. Industrial embroidery machines (multi head machines) of different makes & origins (Japanese, Chinese and Korean) are used for embroidery.

Opportunity Rationale
The trend of usage of embroidery on garments of all sorts is on a rise since last few years. Initially, the embroidery work was used to be done on export garments as per foreign customer's requirements. However, with the passage of time the trend has changed and local market of ladies suits has also emerged as a main customer of embroidery work. Also, the cotton fabric of ladies suits, which is exported to middle east market, is embroided before being exported. Apart from these, the embroidery work is also done on bed sheets, table cloths, and sofa covers, badges etc. Almost 70% of the potential embroidery business exists with the local market while the remaining 30% is done for foreign market. So there is a potential for new people to come into the business of commercial embroidery.

Project Brief
The proposed project is designed as a small-scale commercial embroidery unit. This unit will be capable of providing its services to local garments and fabric manufacturers as well as to those garment manufacturers who are dealing in export and require embroidery work on their garments. This sort of project is quite flexible in a way that there is no processing of raw materials required and each machine is independent in its working. The project can be started even with a single machine. However keeping in view the potential and industry norms, the project will be more feasible and economical with two embroidery machines.

Introduction of entrepreneur
Our selected entrepreneur is Mr Abid who formely was an employee in an embroidery in small state after working for 7 years he realized that he is not for serving anyone else so he decide to start his own business in same field in 2009 , he started hid business under muzaamal embroidery with one machine and in just 3 years he doubled the number of machines which shows his passion for work, consistency and hard work therefore we selected him for this study

Questionnaire
i. ii. iii. iv.
v.

How do you come up with that idea What opportunity did you address Define your product When did you start your business Does your business have a social ,environmental or community focus How many employee Do you have and what are their responsibilities Who is your major market Why did you select it

vi. vii. viii.

ix.

x.

Where did you get money to start your business What form of business do you have and why How do you set your price Your previous sales figures Employee number increased or decreased Basic education

xi.
xii. xiii. xiv.

xv.

Description of questions
How do you come up with that idea
As we know that entrepreneur are always with new ideas and innovative product . if we just talk about HOW we may say that different factors are involved its not a single dependent on single factor. Intuition Observing changing needs and wants of customers Experience in that specific field

In our case of entrepreneur , first he worked as a technical manager at a embroidery in small state too. After saving much money needed for business ,he shared its business with a partner.

What opportunity did you address

This business was established in 2009 , economic conditions were quiet good and stable in Pakistan.so at that time new business conditions were quiet favorable as compare to recent scenario In Embroidery field , there are less competitors and demand is too much high so that was opportunity which he addressed and in my point of view he has quiet successful business still in very good position .

Define your product

Who is your major market

Females of all age group are our major target market . while in faisal abad its major market is MAKKI TARGET.

Annual sales

Sale in first year of business was nearly 4 million per annum . 6 million in next year while in 2011 they installed new machine which ultimately effect sales for 2011 was 8 million which is clear inbar chart given blow

Where did you get money to start your business

Our entrepreneur started his business through family support but with the passage of time he realized that he should expand their business than he went for partnership with his friend to expand their business. As earlier we discuss he has partnership business becuase he want to divide his business risk and maximize his profit. So we also think some how he succeed in his business through partnership.

Refrences

Entrepreneurs Smeda.gov.pk Google images

by SM NAQI

Muazzam embroideries Docu.com