Spring 2012
Entrepreneurship (MGT602)
Sample solution of Assignment no.01
Requirements:
Assume that you are a researcher and conducting a research on the process of adoption of
entrepreneurship among young graduates. You are required to answer following questions.
1. What are the phases of entrepreneurial process you will identify while going
through this scenario? Justify your answer. (10 marks)
The process of Entrepreneurship is mainly described in four phases. (2 marks)
1. Identification of the opportunity
2. Evaluation of the opportunity
3. Development of the business plan
4. Determination of the required resources
5. Management of the resulting enterprise
In the given scenario following phases of entrepreneurial processes are identified.
• Mr. Javaid’s observations revealed an opportunity in its current employment tenure. He
identified an opportunity of manufacturing auto-parts at a small scale.
(identification of
the opportunity)
(2 marks)
• Mr. Javaid’s initial evaluation unveiled the reasonably high demand of auto-parts in the
market. These initial encouraging results motivated him to start his own business and
fulfill his vision. Besides, manufacturing of these auto-parts at low cost also urged him
to commence his own business.
(evaluation of the opportunity)
(2 marks)
• His personal savings and borrowings from friends and family members helped him to
accumulate the financial resources. This initial investment led him to commence his
own entrepreneurial venture.
(determination of required resources)
(2 marks)
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