Introduction to Business (MGT211), GDB # 1, Due Date May 17, 2016.

[Binte Ahmed]

Introduction to Business (MGT211)                                                 

Spring, 2016                                       

Graded Discussion Board # 01

Due Date: May 17, 2016

Total Marks: 10

Topic: Scope of the Business

Objective

To make the students familiar with the basic concept of the scope of business.

Learning outcome of the activity

After this activity, students will be able to take better decision while initiating a new business.

Case study

Mr. Ali is a Government officer by profession and worked for 20 years in income tax department in Lahore. Through his contacts with certain business people and research, he came to know the rising trends of business in Pakistan. He searched different business ideas and found that there is a huge opportunity of starting poultry farm business due to the increased demand of chicken in the market.  He has enough capital to start the business but is lacking the business skills. He has never engaged in any business earlier and doesn’t have a slight idea of how to start a business. He has gathered information about franchising of a well-known poultry business in order to reduce the chances of failure and got guidance from the franchisers in all affairs of the business. The overall cost of franchising is too high and he will have to give a proportionate profit to franchiser every year which reduces the attractiveness of this business for him. Moreover, one of his friends who has previously worked in agri-business sector, is also willing to start the same business but has not enough capital. He had many discussions with Mr. Ali and offered him to become a partner. Mr. Ali is reluctant to partnership as there are no effective regulations to control the partnership activities.

Requirement

 Looking into the above scenario, which mode of business you would suggest Mr. Ali to go for? Whether to start the new business solely or opt for a partnership or franchise? Justify your answer with logical reasons.

Important:

Grace period of extra 24 hours after the due date is usually available to overcome uploading difficulties. 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:

• Take help from internet for collecting the information.
• Carefully watch relevant lectures and consult the relevant material from handouts along with recommended books.
• Attempt the assignment by yourself and it will be entertained positively.

Other Important Instructions:

Deadline:

• Make sure to upload the solution file before the due date on VULMS.
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• Use the font style “Times New Roman” or “Arial” and font size “12”.
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• You may also compose your assignment in Open Office format.
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Referencing Guidelines:

• Use APA style for referencing and citation.  For guidance search “APA reference style” in Google and read various website containing information for better understanding or visit http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html

Rules for Marking

Please note that your assignment will not be graded or graded as Zero (0), if:

• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.

 

 

Note related to load shedding: Please be proactive

Dear Students!

As you know that Pre Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

[13 Prince TS]

Soon

[Saleem.]

I think partnership is the best business...???

[Mohsin Shehroz]

Based on the given information subject should go for Franchise. First he has to hire a lawyer to acquire all the knowledge about legal matters for franchise. Mr.Ali was desk worker for government sector from last 20 years. He might doesn't know the proper situation of market. therefor opening a franchise will be great idea, it will be high costly but the margin of risk will be miner. When he will gather the experience he can go for sole proprietorship. Later on expansion of business can allow him to go for partnership.

Best of luck.  

[Mohsin Shehroz]

Kindly change the words and synonyms of GDB , dont write it as same it is.

try to write it in your words the idea is on below comment.  

[+M.Tariq Malik]

According to the given information he should go for the franchiser and start his business. It will be costly bur it will minimize the risk and possibilities of failure. After sometime when he got experience about the business he could change it in to sole proprietor ship.

[+M.Tariq Malik]

Based on the given information subject should go for Franchise. First he has to hire a lawyer to acquire all the knowledge about legal matters for franchise. Mr.Ali was desk worker for government sector from last 20 years. He might doesn't know the proper situation of market. therefor opening a franchise will be great idea, it will be high costly but the margin of risk will be miner. When he will gather the experience he can go for sole proprietorship. Later on expansion of business can allow him to go for partnership.
it is copied.

[+M.Tariq Malik]

Franchise would be too much costly option for a startup business. Although it provides immediate profits in business but most of the profits would go to franchiser. Further there would be too many restrictions from Franchiser to Franchisee. Franchiser gives it name, potential customers, financial advises and guidance to adopt their procedures and processes but in the end implementation of everything is the responsibility of investor or Franchisee. Any small breach of franchiser policy or procedure could cost the investor a withdrawal franchise status and investor could loss all paid cost and huge fee of getting franchise.

So best option with given conditions could be partnership business and there is the law relating to partnerships is contained in Pakistan as per the Partnership Act, 1932 ("Partnership Act"). Further Partnership would given him the freedom to apply their own marketing strategy with other partnership benefits as well.

[+M.Tariq Malik]

Please Discuss here about this GDB.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

[+M.Tariq Malik]

GDB Solution:
From the above scenario, I would like to suggest Mr. Ali to go for franchising as it will suit him more than any other kind of business including proprietorship or partnership. In case of franchising,,
1) He will get access to business which has already world-wide fame and hence he will need to do less effort.

2) Another advantage of franchising is there will be less chance of failure and loss as it has been repeatedly tested over the years.

3) Mr. Ali will have support and guidance from the franchiser which leads his business to the height of success and prosperity.

[1f06h8yo7xfu3]

complete solution plz?

[salman zulfiqar]

Assalam.o.alikum plz give me complete solution.

[Mazhar]

i need solution mgt211??