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Introduction to Business (MGT 211)
Assignment # 01
Marks= 20
Students in nearby rural areas can not reach City College on time due to non-availability of proper transportation system. Suppose you want to start a business of pick and drop of students by purchasing a bus. Keeping this scenario in mind, please answer the following questions:
1. What will be your objective to start a business? (5)
2. Which business structure is most suitable for this business; give the logical reasons for adopting this business structure? (10)
3. What sorts of promotional activities will you perform before opening this business? (5) Important Tips
1. This Assignment can be best attempted from the knowledge acquired after watching video lecture no. 1 to lecture no 15 and reading handouts as well as recommended text book).
2. Video lectures can be downloaded for free from www.youtube.com/vu.
Schedule
Opening Date and Time
April 22, 2011 At 12:01 A.M. (Mid-Night)
Due Date and Time
April 27 , 2011 At 11:59 P.M. (Mid-Night)
Note: Only in the case of Assignment, 24 Hrs extra / grace periodafter the above mentioned due date is usually available to overcome uploading difficulties which may be faced by the students on last date. 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.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. No assignment will be accepted through e-mail after the due date.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Every student will work individually and has to write in the form of an analytical assignment.
• Give the answer according to question, there will be negative marking for irrelevant material.
• For acquiring the relevant knowledge don’t rely only on handouts but watch the video lectures and use other reference books also.
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Please friends any one have solution of this assignmnet.plz post ur ideas.Thanks

Well, dear fellow students and colleagues, this is one idea solution for guide line, hope will help all......thanks

 

Question 1:  Students in nearby rural areas cannot reach City College on time due to non-availability of proper transportation system. Suppose you want to start a business of pick and drop of students by purchasing a bus. Keeping this scenario in mind, please answer the following questions:

1. What will be your objective to start a business?

2. Which business structure is most suitable for this business; give the logical reasons for adopting this business structure?

3. What sorts of promotional activities will you perform before opening this business?

 

Answer 1:

  1. 1.    Objectives to start business as “Sole Proprietor”
    1. a.      To start will make a business plan which contains objectives of business and the ways to achieve the plan.
    2. b.      The objectives to start my business will therefore be:-

(1)    To inform and attract the customers, will give a suitable name to business i.,e “School Pick and Drop Service”

(2)    Depending on availability of capital whether owned or borrowed, try to start business with  single bus (2nd hand) thus economizing on cost and getting high profit rate.

(3)    With the passage of time and increase in profit, more buses will be arranged.

(4)    Try to arrange reliable, efficient and cheap transportation

(5)    Arrange labour i.e, hiring driver / conductor on cheap wages

(6)    Besides the cost / profit factor, will ensure good will and good ethic to get sympathies of customers (school kids)

(7)    I will maintain direct relationship with workers i.e, driver and conductor to ensure maintenance of bus.

(8)    Also will keep a worker to collect monthly profit from parents to ensure accountability of funds.

(9)    Will provide incentive to customers as well as workers i.,e

(1)    Customer: For more than two kids, the family will be waived off the payment of one kid

(2)    Worker: For efficient work and honesty without any complaints from parents, a onetime bonus of Rs 1000 will be paid.

  1. 2.    Business Structure and Logics for adopting
    1. a.      It will be “Sole Proprietor Ship”
    2. b.      Logical reasons for adopting this structure :-

(1)    Is a small scale work and can easily be formed

(2)    Can be controlled and owned by one man and thus is independent to owner

(3)    It does not require any complicated legal provision like registration thus saving in legal expenses and taxes

(4)    One man (owner) can singly operate and get entire profit as well as loss.

(5)    Single owner is the sole master, therefore has full freedom of action

(6)    Owner can have direct relationship with customer

(7)    Will give personal satisfaction to owner being operated by himself

(8)    Will help giving employment to locals i.e, social benefits

  1. 3.    Promotional Activities
    1. a.      Announcement in college and village mosques
    2. b.      Issue of broachers at college and villages
    3. c.      Personal interaction with college principal and teachers to promote bus service
    4. d.      Writing on bus sides with paint along with drawings of school kids
    5. e.      Broachers will include fol details:-

(1)    Name of business i.e, Al-Hadid Pick and Drop Service”

(2)    Emphasis on service performance i.e, strict following of timings

(3)    Means of transport being used i.e, bus

(4)    Seat capacity, comfort of kids, carriage of bags

(5)    Monthly charges for each kid, also incentive announced for any family utilizing service having more than two kids, one kid will be free

(6)    Timings for bus, pick and drop

(7)    Route of bus with timings

All the best, take care
thankx zafar brother
thnx :)
v well done bro :) , tx for d idea .
sss
Thanks zafar bhai we appreciated alot

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