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SPRING 2014, SME MANAGEMENT (MGT601), ASSIGNMENT NO. 02, DUE DATE: 11TH AUGUST, 2014 MARKS: 20

ASSIGNMENT:
The small and medium enterprises (SMEs) are considered as the engine of growth & prosperity
not only for the individuals but also for the countries. They accelerate economic activity, create
jobs, enhance capital formation and undoubted fully work as a back bone of economy for many
countries (Taiwan, Korea, Japan, China etc).
All the entrepreneurs are keen to consider factors that are considered essential for the success
of any enterprise, but do all these factors really take to make a business successful? This is not
an easy question to answer, as each entrepreneur has a different definition of success, however
the answer of success is too simple: “The key to a successful business is customer service and
retention that is so much more important than marketing.
An entrepreneur is one man show, who has to make all decision regarding the enterprise
(Finance, Procurement, Marketing, HR, Supply chain etc). In true sense an entrepreneur is
responsible for the success and failure of business, thus the errands increases and right decision
making becomes the need of the hour.
Considering the fact that you are running a small enterprise (Hudabia sports), who are indulged
in manufacturing Soccer balls, Beach Volley Balls, Hand balls, Rugby balls, Soccer Suits, Goal
keeper suits & Gloves and related products and a bit successful in capturing orders but it
becoming difficult to retain and attract new one due to stiff competition from competitors in
the same category and also lacks its marketing ability and limited financial resources to actively
locate its business and find potential customers. The economy is dwindling, inflation is at its
peak and power crisis is prevailing.
Being a student of Small & Medium Enterprise subject and having the strong market
knowledge,
What would be the possible hurdles for Hudabia sports in export of mentioned goods?
What would be the strong controllable factors that Hudabia sports can use to uplift its
products and exports? Justify your answer with solid arguments and relevant facts.
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Government policies regarding the export and import of different products have been changing over the years. The articles being exported from Pakistan are track suits, footballs (including soccer balls, volley balls, rugby balls), boxing, cycling, motto sports uniforms, gloves, shorts, T shirts, wind breakers, Judo/karate kits, casual wears, stockings, etc. All of these goods needs some sort of raw materials to manufacture, and this raw material includes artificial leather, latex, bladder, chemicals, PV sheets, Rexene, and lot more, so if all of these items would be imported in the country duty free, then the industrial output will carry high quality products, as there is a cost associated to it in which artificial leather has a 50% of import duty, same is the case with chemicals which are used in different processes also has different import duties, but some items like the bladder, latex, scoder are free of import duty, means they are duty free items, and items like these helps manufacturers to even import in bulk and use them according to the needs, whereas items which include import duties are more cost efficient so manufacturer lays his hand tight in accruing this cost very common, as in the past years government has increased the import duties of almost all items, which is discouraging imports of raw materials also, if the government of Pakistan take corrective actions and try to find a solution on how to resolve the lack of availability of raw materials in order to save the industry. There are some import Quotas set by the government of Pakistan, but these quotas are not applied in the sports sector as government has not set any sort of quotas for imports related to raw materials used for sports goods.(“Custom income tax and Custom Duties”, a Book, yearly publication, section of import duties, page no. 57-99) .
If we still continue with the government policies which are effecting the manufacturing of sports goods, then we come across one more component that is rebates, rebates are a form of subsidies which are given to exporters on a given percentage of export or a fraction of their total exports, in Pakistan in Zia’s regime, subsidy given to exporters on export of different products was about 35%, just to encourage exports and bring foreign exchange into the country, and gradually it went on declining, in Nawaz Sharif’s 1st regime, this subsidy on export was declined to 15%, and in 2000-01 this was around 5.85%, and nowadays it has declined to almost 0, namely exists, now government of Pakistan is giving 0.45% subsidy on total amount of exports, which means if an exporter is exporting worth of 10 million Rs, he is getting a subsidy of 45,000 Rs, which is almost nothing, which in some terms is discouraging exports. (“Custom Rebates, a Book, yearly published, section of rebates for encouragement, pg 101-110) and (“Notification of Rebates and Exemptions, published by Ministry of Commerce”)
As every business needs funds and investments to increase its operations and increase the size of its business, funds are also required for day to day expenditures which occur in processing, so the Government of Pakistan has allowed all the exporters to take loan on showing their total yearly exports, government gives a fraction according to the feasibility report and yearly exports, which comes around to 60 to 70 percent, which means an exporter can take a loan of 60 to 70 percent of its total yearly exports, which can be paid back by easy instalments or annually and bi annually or even monthly payments, this type of loan which is specifically given to exporters is named as Part – ii loan in Banking terms, and as every loan has an interest rate attached to it, in this scenario interest rate is relatively lower to about 7.5% currently, this interest rate has also been fluctuating over the years, in 2000 it was about 3% and in 2005 it increased to 9.5% and then government made some adjustments to it due to decline in exports, and made it 7.5% in 2006, from then onwards till 2010 it is still 7.5%.
According to the article WTO has also restricted Pakistani manufacturing industries from using child labour, the sports goods industry in Pakistan is not very much technological, although they are still working on the unique method of manufacturing the ball, which is sewed by the labour force, and in international market the handmade ball has its demand, and in order to meet that demand in last decade and even before that Sialkot started hiring child labour due to shortage of labour force, on average an unskilled worker can sew to about 2 – 3 balls in a day and the wage rate is also according to the ball sewed, so when Pakistan became a member of WTO in 1995, after inspections WTO set up a barrier for Pakistani sports goods in order to stop the use of child labour, WTO’s motive was to eliminate child labour, and this is also an important point in the ISO certifications that companies which are registered with ISO certification are also restricted to use child labour, if they don’t do so, their certification can be cancelled
The terrorist attacks that were carried out on USA on 11th September, 2001, had significant and far-reaching effects on the global economy. The shock was a bit too hard for an already weak economy to absorb. Since then Pakistan’s participation in the international campaign has caused uncertainty in the country, as it has been facing major challenges, like domestic political and economic instability and increased law and order concerns amongst other reasons. One element which was significant was adverse effects in the confidence of consumers and business as the consumer confidence was declining and business sentiment was depressed. Since the start of the anti-terror campaign, an overall sense of uncertainty has prevailed in the country, which has contributed to capital flight and slowed down economic activities making foreign investors jittery.” The economy was slowing down substantially, with major engines of growth simultaneously showing signs of weakness; the growth rate is expected to be only 3.5 per cent in 2010. In such an economy the export sector is bound to suffer highly which naturally includes the sports goods exports as well

AOA.............

plz discus assignment MGT 601....

 

Hurdles in export
Short and Medium Enterprise loans
Inflation Rate
Export Quotas
Import Quotas
Import licenses
WTO agreements
(World Trade Organization)
Import duty
Interest Rates
Percentage change in Exchange rate
Rebates
Export of Sports Goods
(Dependent Variable)
3.4.1 Variable reference list
Government Policies
Subsidies
I hope it is of some help :)

plz upload idea or solution

 Mgt601 2nd Assignment August 2014

Government policies regarding the export and import of different products have been changing over the years. The articles being exported from Pakistan are track suits, footballs (including soccer balls, volley balls, rugby balls), boxing, cycling, motto sports uniforms, gloves, shorts, T shirts, wind breakers, Judo/karate kits, casual wears, stockings, etc. All of these goods needs some sort of raw materials to manufacture, and this raw material includes artificial leather, latex, bladder, chemicals, PV sheets, Rexene, and lot more, so if all of these items would be imported in the country duty free, then the industrial output will carry high quality products, as there is a cost associated to it in which artificial leather has a 50% of import duty, same is the case with chemicals which are used in different processes also has different import duties, but some items like the bladder, latex, scoder are free of import duty, means they are duty free items, and items like these helps manufacturers to even import in bulk and use them according to the needs, whereas items which include import duties are more cost efficient so manufacturer lays his hand tight in accruing this cost very common, as in the past years government has increased the import duties of almost all items, which is discouraging imports of raw materials also, if the government of Pakistan take corrective actions and try to find a solution on how to resolve the lack of availability of raw materials in order to save the industry. There are some import Quotas set by the government of Pakistan, but these quotas are not applied in the sports sector as government has not set any sort of quotas for imports related to raw materials used for sports goods.(“Custom income tax and Custom Duties”, a Book, yearly publication, section of import duties, page no. 57-99) .
If we still continue with the government policies which are effecting the manufacturing of sports goods, then we come across one more component that is rebates, rebates are a form of subsidies which are given to exporters on a given percentage of export or a fraction of their total exports, in Pakistan in Zia’s regime, subsidy given to exporters on export of different products was about 35%, just to encourage exports and bring foreign exchange into the country, and gradually it went on declining, in Nawaz Sharif’s 1st regime, this subsidy on export was declined to 15%, and in 2000-01 this was around 5.85%, and nowadays it has declined to almost 0, namely exists, now government of Pakistan is giving 0.45% subsidy on total amount of exports, which means if an exporter is exporting worth of 10 million Rs, he is getting a subsidy of 45,000 Rs, which is almost nothing, which in some terms is discouraging exports. (“Custom Rebates, a Book, yearly published, section of rebates for encouragement, pg 101-110) and (“Notification of Rebates and Exemptions, published by Ministry of Commerce”)
As every business needs funds and investments to increase its operations and increase the size of its business, funds are also required for day to day expenditures which occur in processing, so the Government of Pakistan has allowed all the exporters to take loan on showing their total yearly exports, government gives a fraction according to the feasibility report and yearly exports, which comes around to 60 to 70 percent, which means an exporter can take a loan of 60 to 70 percent of its total yearly exports, which can be paid back by easy instalments or annually and bi annually or even monthly payments, this type of loan which is specifically given to exporters is named as Part – ii loan in Banking terms, and as every loan has an interest rate attached to it, in this scenario interest rate is relatively lower to about 7.5% currently, this interest rate has also been fluctuating over the years, in 2000 it was about 3% and in 2005 it increased to 9.5% and then government made some adjustments to it due to decline in exports, and made it 7.5% in 2006, from then onwards till 2010 it is still 7.5%.


According to the article WTO has also restricted Pakistani manufacturing industries from using child labour, the sports goods industry in Pakistan is not very much technological, although they are still working on the unique method of manufacturing the ball, which is sewed by the labour force, and in international market the handmade ball has its demand, and in order to meet that demand in last decade and even before that Sialkot started hiring child labour due to shortage of labour force, on average an unskilled worker can sew to about 2 – 3 balls in a day and the wage rate is also according to the ball sewed, so when Pakistan became a member of WTO in 1995, after inspections WTO set up a barrier for Pakistani sports goods in order to stop the use of child labour, WTO’s motive was to eliminate child labour, and this is also an important point in the ISO certifications that companies which are registered with ISO certification are also restricted to use child labour, if they don’t do so, their certification can be cancelled




Hurdles in export
Short and Medium Enterprise loans
Inflation Rate
Export Quotas
Import Quotas
Import licenses
WTO agreements
(World Trade Organization)
Import duty
Interest Rates
Percentage change in Exchange rate
Rebates
Export of Sports Goods
(Dependent Variable)
3.4.1 Variable reference list
Government Policies
Subsidies

: Mgt601 2nd Assignment August 2014

The terrorist attacks that were carried out on USA on 11th September, 2001, had significant and far-reaching effects on the global economy. The shock was a bit too hard for an already weak economy to absorb. Since then Pakistan’s participation in the international campaign has caused uncertainty in the country, as it has been facing major challenges, like domestic political and economic instability and increased law and order concerns amongst other reasons. One element which was significant was adverse effects in the confidence of consumers and business as the consumer confidence was declining and business sentiment was depressed. Since the start of the anti-terror campaign, an overall sense of uncertainty has prevailed in the country, which has contributed to capital flight and slowed down economic activities making foreign investors jittery.” The economy was slowing down substantially, with major engines of growth simultaneously showing signs of weakness; the growth rate is expected to be only 3.5 per cent in 2010. In such an economy the export sector is bound to suffer highly which naturally includes the sports goods exports as well

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