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MGT601 Assignment 1 Fall 2021


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Assignment
SME Management (MGT601)
Fall 2021
Due Date: 27 December, 2021.
Total Marks: 10

Leaning objectives: To make students explain how SME could evaluate the new venture opportunities.

Learning Outcome: tudents will comprehend the identification of new venture opportunities and possible reasons of failure.

Background: The challenges of starting a new enterprise from the stage of its conception to functioning are multidimensional. A crucial task in starting a new business enterprise is the systematic analysis and evaluation of its feasibility and long term profitability. A study relating to the reasons for
failure of new ventures has found that most of the factors underlying the failure lie within the control of entrepreneur. There is a need to undertake a comprehensive market study before launching new products. For avoiding failure of new venture, it is important to work on the identification of the new venture opportunity.

Case: Mr. Shahzad Khan, a chef started his new business of fusion food restaurant. He had no
experience in dealing a restaurant and running a business. He just was a senior chef in a famous
hotel chain. He created many dishes and has many best-selling dishes in that hotel to his credit.
He wanted to introduce fusion food but his idea was not welcomed. Due to his inspiration, he
planned to quit his job and start his own restaurant of fusion food. His only expertise is creating
new dishes and cooking, so he put all his budget and effort on creating an awesome menu for his
restaurant. He spent all his life savings in the business but due to the budget constraints of his
startup, he did not hire a marketing manager and did marketing according to his limited
knowledge. He hired a few interns as helpers for his small set-up. His idea of fusion food was not
accepted and welcomed by locals and ultimately the business failed and he was not able to
achieve his sales target.
Requirement:
Being a student of SME management you need to give answers to the following questions.
Question:
1. What are the reasons for the failure of chef’s new venture of fusion food?
2. What are the possible drawbacks in choosing the new venture opportunity that he should
have considered while finalizing his new venture related to fusion food?
Note: Provide at least 3 reasons for the failure of his new venture and 4 possible drawbacks.
Marks: 6 (reasons of failure) + 4 (drawbacks)
Note:
24 hours extra / grace period after the due date are usually available to overcome uploading
difficulties. This extra time should only be used to meet the emergencies and mentioned due
dates should always be treated as final to avoid any inconvenience.
IMPORTANT INSTRUCTIONS
 Students are advised to study the whole text carefully.
 Try not to include any irrelevant material in the solution
 Try to come up with precise and original answers.
 Any act of plagiarism like copy paste from internet will result in ZERO marks.
 Assignments reaching after the due date would not be considered.
OTHER IMPORTANT INSTRUCTIONS:
DUE DATE: 27 December, 2021
 Make sure to upload the solution file before the due date on VULMS.
 Any submission made via email after the due date will not be accepted.
FORMATTING GUIDELINES:
 Use the font style “Times New Roman” or “Arial” and font size “12”.
 It is advised to compose your document in MS-Word format.
 You may also compose your assignment in Open Office format.
 Use black and blue font colors only
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.
Good Luck

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