Report on Write a clear and concise summary of the Business Case, with a special reference to the type of Business and Ownership.

1.Answer:

This is the business case study that revolves around a boy who is being called by the name of Sif. He completed his degree in engineering and he worked at many different companies and through working in designated areas he learnt a lot and he also found out that oil and gas company is the one that is facing number of different challenges and then he looked for the reasons that why such a big oil and gas company is facing these challenges. By doing different research he found out that there are different students who don’t have any interest in pursuing their degree in engineering and if they do so, they only get their degree because of the pressure that is being given by their parents. Then he decided to explore out the number of different possibilities for creating awareness and bringing interest in the field of science and especially engineering in the young children of Oman. It would definitely benefit the society and then as a result all the future generations would also get help because of these efforts. There is not a single thing that becomes successful without doing proper planning about it or doing research on it accordingly. Give time to everything before starting any new business because time that is being given before starting the business would definitely give a much positive impact and results would be fruitful as well. There are number of different marketing strategies that can be used in today’s world as it is the time of where latest technology is being used by the young generation. They use social media and all of the young generation is one social media and this is one easy way or platform to grab the attention of all the young youth to get them motivated.

2. Uniqueness & Identification of Success /Failure Factors: [400 words]                                    [10 Marks]

a)    Saif Al Manji is a “Winner of the fifth edition of Entrepreneur’s Conclave 2016” as well as the “Brand Ambassador of 2017”. What made him a successful entrepreneur?  

As Saif is the winner for the fifth edition of the Entrepreneur’s conclave along with the Brand Ambassador as well. There are certain qualities that made him one successful entrepreneur and those are:

o   His hardworking and honesty.

o   The way he did different research to look out for the challenges that are being faced by the companies in Oman by the lack of interest.

o   His passion and motivation.

o   He was a self-disciplined person.

o   He had the ability to take different risks at different situations.

o   He was creative enough in digging out the ideas and thinking as well.

o   He was persistence enough.  

o   He was not scared of anything like taking any risk in life or doing any activity. He did each and every task in a very confident way.

o   He used to take what he only do seriously.

o   He was determinant and open minded as well.

o   He had the capability of learning and he never used to get afraid of accepting his flaws or accepting them.

b)    Explain, why is it important to plan carefully before starting a new business?

Business plan is considered to be one of the most efficient as well as important strategic tool for the entrepreneurs. A good business plan is not just the one that helps the different entrepreneurs to get focused on the specified steps which are very important for them to make their different ideas of business successful. This also helps them in achieving their short-term as well as the long-term objectives to get successful. There are certain things or factors that needs to be in the mind before starting out any of the new business and they are:

·         Development of a powerful message.

·         Focus upon the customers and then understand the market carefully.

·         Understanding of their own skills, strengths along with the time that is available.

·         Try to have a mentor.

·         Write a business plan successfully and accordingly.

There is not a single thing that becomes successful without doing proper planning about it or doing research on it accordingly. Give time to everything before starting any new business because time that is being given before starting the business would definitely give a much positive impact and results would be fruitful as well.

2.Answer:

3.  Management of Challenges: [250 words]                                                                                       [10 Marks]

a.    Mention any two challenges faced by Saif Al Manji and explain how he overcame these challenges.    

Saif faced number of different challenges. He had to make out the numerous commitments as well as the decisions for working out dedicatedly for the project which he started. There is no doubt in it that it affected his personal as well as his family life as well. But he was a passionate worker and he decided to follow his dreams and work dedicatedly for the project for making it a reality. At the first place, Saif found it much difficult to leave his secured and safe job but the passion along with the support and help of society helped him out a lot. Through the planning of contingency, it helped him out a lot for the establishment of “Engineering for kids of Oman”.                  

Another challenge was to keep their interest developed so he decided to offer number of different programs according to their age group to maintain their interest by involving them.

b.    Saif Al Manji requires Financial support to expand his business; with reference to existing ecosystem in Oman, suggest any two options he can utilise and justify the reasons for choosing these options.   

He can seek help from his different fellow friends to donate some amount of the money to expand his business as this would definitely help the whole community. He should make a proper plan for the business so that he can convince the different people to donate money.

Second thing which he can do is to take loan from different banks by showing them their plan and once the business get expanded, he can return the amount of money to them.

3.Answer:

4. Discussion of Case Specific Factors: [400 words]                                                                 [20 Marks]                                                               

a. “Oman needs STEM-related talent to compete globally, and we will need it even more in the future. It’s not a matter of choice.” why was it important for Saif Al Manji to work with the issues of national interest?” Discuss.

It was essential for Saif to work with all such issues of the national interest as it was effecting the different large companies in Oman because they definitely want a new youth to come and give different ideas to grow and make these companies grow because it would definitely effect the future of the Oman along with the whole new young generation as well. It would motivate the new youth.

b. Suggest marketing strategies that can be more effective for EFK Oman and justify the reasons of choosing these strategies.                                                                                                                                  

There are number of different marketing strategies that can be used in today’s world as it is the time of where latest technology is being used by the young generation. They use social media and all of the young generation is one social media and this is one easy way or platform to grab the attention of all the young youth to get them motivated.

Advertisement on Facebook, Instagram and other social media applications.

Investing in the content marketing as well.

These two are the best marketing strategies that can be used.

c. What learning do you take from this case to be a successful Entrepreneur? Provide minimum five points.

Doing appropriate and timely research as well as working on the ideas to start up a new business. Each and every single business model is the one that starts with one of the big idea.

Try to surround yourself with the team that motivates or inspires you.

To be determinant and patient in every situation. One needs to learn that no matter what the situation is, never get hyper but be patient.

Passionate to achieve the goals and work on them to be successful.

Try to help out the other people and don’t get selfish but try to think about the others in every situation.

d. If Saif Al Manji was given an advance of OMR 50,000/- by Al Rafad Fund, how would he have spent this as his start-up expenditure? Provide your answer in terms of the startup expenditure break up you learned by using the table given at the end.' 

4.Answer:

5. Organisation & Writing Mechanics:                                                                                                  [5 Marks]

Content, Grammar, Spelling and Formatting

Organisation and flow of the content. Work is neat and free of spelling and grammar error.