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MGT211 GDB Solution & Discussion Last Date: December 04, 2014.
MGT211 - Introduction To Business Graded Discussion Board GDB 1 Solution Fall 2014 of Virtual University (VU)
Graded Discussion Board
INTRODUCTION TO BUSINESS (MGT211)
This is to inform that Graded Discussion Board (GDB) No. 01 will be opened on December 02, 2014 for discussion and last date for posting your discussion will be December 04, 2014.
Topic/Area for Discussion
“Success and Failure of Business”
This Graded Discussion Board will cover from first 14 lessons.
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Please Discuss here about this GDB.Thanks
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Objective of GDB
The basic objective of this discussion is to make students familiar with what are the causes of success or failure of business
After attempting this GDB students will be able to:
Mr. Akram started a business of Furniture, for this purpose he hired a shop in a market. He also employed two people from his family for other business activities. After five months he realized that he was not earning even normal profit and his business was not successful as he expected. Finally he had to close his business. After this he started to find out the causes of its failure.
Point of Discussion:
Consider yourself as Mr. Akram and discuss the possible causes of failure (any five) in business.
Marking scheme: Each point contains 1 mark
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jo ans hain vo thakrebn thek hain but dificult
1. Hired not qualified & lack knowledge employees regarding specific business.
2. Lack of market knowledge & market demands.
3. Lack of market experience in the specific field.
4. Lack of understand customer's demands & requirements.
5. To hire the relatives, because it will be hard to give punishment & can't
force due to some limitations. As well as the employees will be more flexible &
relaxed while working.
6. Depending & Trust on the employees based on some relation.
i think 5 point should be
1. unlimited liability
2. lack of competence
3. lack of reliable persons
4. lack of experiance
5. limited growth
think possible causes of failure (any five) in business are
1. Shortage of Information about furniture market.
2. Shortage of Information about customer demand.
3. Quality of the product not according to market demand.
4. Less experience in relevant field.
5. Slow Production Process