MGT601 SME Management Assignment No. 2 Solution Spring Semester 2013

[Vuhelper]

MGT601 SME Management Assignment No. 2 Solution Spring Semester 2013


SEMESTER SPRING 2013
SME MANAGEMENT (MGT601)
ASSIGNMENT NO. 02
DUE DATE: 21ST JUNE, 2013
MARKS: 30
ASSIGNMENT:
The small and medium enterprises (SMEs) are considered as the engine of
prosperity for the vast majority of people, particularly in case of the disadvantaged
segment in developing and developed countries alike. They accelerate economic
activity, job creation and capital formation for the common good rather than
increasing surplus for the few.
Taiwan, a small island country, hosts 97.8% SMEs. Taiwanese SMEs contribute
85% to the country's GDP by engaging about 85% of non-agricultural labour force.
The vibrant SMEs of Taiwan have expedited economic growth making Taiwan the
sixth largest per capita ($16,400) earner in Asia and holder of the fifth largest
foreign exchange reserves in the world.
What does it really take to make a business successful? This is not an easy
question to answer, as each entrepreneur has a different definition of success. 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).
Consider that you are the head of a small enterprise (Ayan Art Furniture) in the
furniture sector, who are planning to serve the classical furniture requirements of
homes and offices. The entrepreneur has facing a stiff competition from competitors
in term of getting sales and also lacks its marketing ability to actively locate its
business and find potential customers. The economy is dwindling, inflation is at its
peak, power crisis is prevailing and purchasing power is decreasing overtime.
In the light of above what kind of actions Ayan Art Furniture has to take to establish
its SME setup. Also what can be possible draw backs in selecting new venture
opportunities?
At least mention five possible SME’s sectors in Pakistan, which have tremendous
potential for growth.
IMPORTANT:
24 hours extra / grace period 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.
OTHER IMPORTANT INSTRUCTIONS:
DEADLINE:
· 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 websites
containing information for better understanding or visit
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 started
and load shedding problem is also prevailing in our country.
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.