➢ TASK 1 1.1. What is an enterprise? An enterprise is another word for a profit business or company but it is most often associated with entrepreneurial success which often referred to as ‘enterprising’. 1.2. Why have you chosen to be an entrepreneur? Some people become entrepreneurs because they see it as a mandatory journey to take. My prior experience and achievement in education makes me realize that working for others is no longer a life suited. A fire in my hearts tells me that I have a strong purpose in the world that surpasses the reality of being an employee. I am driven with the need to succeed and control my own destiny. Owning a business gives me no limitations on the profit and opportunities that I can gain. 1.3. Skills needed to be an entrepreneur • LEADERSHIP Leadership is exercising good judgement and taking the correct decisions. The quality of leadership is crucial to the successful running of an enterprise. Leaders are inspirational and have the type of personality that people believe in. This encourages the employees and other workers. • TIME MANAGEMENT Careful priority, planning, defining milestones, execution and iteration are all important. None of that would lead towards progress without the right project management and time allocation methodology that gets the work done. 1 • STRATEGIC THINKING Learning to decompose a problem to its core and reveal opportunities for growth. Figuring out creative solutions and identifying the low-hanging fruits. Defining the scope for an MVP and testing within limited time and with a low budget. • SELF-CONFIDENCE It is important that an entrepreneur is confident in themselves, especially in their ability to succeed. Their confidence about their ability, their product, and enterprise helps others to believe in them and reflects positively on the business’s reputation. • CREATIVITY It is important to think creatively. Entrepreneurs often have original and creative ideas, but it can be challenging to put such ideas into practice and make them work. It requires confidence to overcome the fear that the idea will fail. • FINANCE Finance management will make or break a business. Handling resources properly and carefully assessing investments compared to ROI is a solid requirement for entrepreneurs. • CURIOSITY Great entrepreneurs are tasked to discover new problems, reveal potential niche opportunities, refactor their original business process, and innovate. This is contingent on being passionate about different fields of study and business cases outside of one’s comfort zone. 2 1.4. Skills I possess • EFFICIENCY I have a higher performance when it comes to solving a problems. Applying the rules and other techniques for yielding higher results in less time. Switching between different chores and progressing efficiently day-to-day. • COMMUNICATION I understand others, I often focus on what I should say. However, communication is not all about talking and more about listening. I just not listen well but I also understand the emotions that the speaker Is trying to convey. • SALES Being comfortable doing outreach and creating new business opportunities. I find the right sales. • RESILIENCE I handle rejections, stress, burnouts, lack of focus, slow progress. I have the determination and eagerness to fight the same dragon every morning is instrumental when it comes to building a business from scratch. 1.5. Choose 3 Ideas 1.5.1: Selling printed T-shirts or hoodies with school logo. T-shirts or clothes that reflects the spirit of the school can sell very well. Printing hoodies or t-shirts does not cost much and you can order it online or contact a local print shop. ADVANTAGES 1.School uniform reduces: A uniform mandate makes every students wear the same outfit. Since every students are wearing the same thing, there is a reduced level of peer pressure to wear certain fashion styles. 3 2.They create uniformity: There can be a better sense of unity because everyone will wear the same clothes and they have a single identity. 3.A sense of belonging and Pride: The t-shits or hoodie will be an indicator of what school you belong to. This is beneficial for students who study in schools that are well known foe ex; PSC. You can proudly wear the hoodie or t-shirt and “show” other people that you attend a good school. 1.Easy to hand down to others years after years: it is true that T-shirts can take a beating over a year. With proactive care, the T-shits/hoodie can be handed down to others each year. It is possible to get by with only purchasing one set of uniforms because they can be handed down to the next child. DISADVANTAGES 1.Reduces individuality of the student due to the school logo: Students can sometimes lose their individuality through fashion. But they also teach students that it is more important to think and act like a team instead of acting like an individual. 2.Intruders can easily blend in: if administrators or teachers are searching intruders then it becomes easy to blend into that environment. That would allow them to move freely through-out the school. For that reason, check-in procedures, an entry airlock, or other security measures may be taken. 3. Time consuming: making such large number of products can take a lot of time. Therefore, it will take more time to sell all the products. 1.5.2: CAR WASH This car wash is an event which will be a fundraiser, in which cars or other vehicles inside the school yard will be washed by hand. The car wash will take place in the school car park. Fun to do. And is a great way to raise funds . 4 ADVANTAGES 1.More money will be collected if it is charitable Many people say that instead of setting a fixed price, we should make it as a donation. People will pay more than the actual price. This has worked surprisingly well in the past. 2.Lots of customers Cars tend sometimes to get dirtier as there is more pollution. So, if promoted well there should be no shortage of customers. Teachers will profit to this as they sometimes get the time to clean/wash their cars after school as some give private tuitions. 3.Availability of tools Items such as soap, sponges, towels, buckets, hoses, window cleaner, clothesline home. Thus, saving us More money. DISADVANTAGES 1.Layout The layout is ultra-important and inevitably determines how many cars we can wash. If our marketing is done correctly and have a good location, we will have a lot of cars to wash. Thus, our layout will change from location to location and we will have to wash them efficiently. 2. Damage the car The cleaning products may do more damage than good. They can dull the paint of the car. You could end up with fine scratches and swirls mark since your cleaning supplies usually include an old rag or sponges. 3.Time We will need to sacrifice a fair amount of time and energy to get the job done. 5 4.Water pollution The water you use will travel down the drain, and it could also penetrate the ground below. This means that all chemicals we are using are going into the ground where they can have a profound effect on several ecosystems 1.5.3: ICE CREAME PARLOUR Ice cream parlor is where people go to buy ice cream. Ice cream is basically a soft, sweet frozen food made with milk and cream typically flavored with vanilla, fruits or other ingredients. ADVANTAGES 1.Everyone loves ice cream Everybody loves ice cream. Even those who say they don’t won’t be able to resist a yummy scoop of ice cream with all trimmings on a hot summer day. Most people know that ice cream is fattening but ice cream has some health benefits too. 2.Prevents Mood Swings Ice cream contains a compound that stimulates the production of thrombospondin which is a hormone that uplifts the mood and prevents mood swings. This hormone also reduces stress levels. It also relaxes the nervous system, prevents insomnia and stimulates the brain. 3.Excellent Source of Energy Ice cream is the best source of energy which contains carbohydrates, fats and proteins to produce energy. 4.Rich in Vitamins Ice cream contains high source of vitamins A, B-6, B-12, C, D and E. Ice cream also has vitamins K which cures blood clotting. 6 DISADVANTAGES 1.Making of Ice Cream Ice cream isn’t always as simple as following a recipe, which means a fun experiment can quickly become a frustrating endeavor. Your final result may not look good. That’s why we will have to buy ice creams form a local supermarket where the ice creams are pre-made. 2.Hot Climate Ice cream can easily melt in hot weather conditions. If it is melted outside the freezer, refreezing it and eating it would be unsafe. When ice cream melts bacteria such as Listeria can grow. 3.High in Sugar Diabetics can’t eat ice cream because it contains copious amount of sugar in every serving. 1.5.4: Selling Boulette (fish Dumplings) Boulette are basically fish dumplings that you can find in Mauritius which are served in various ways and in different combinations. I chose this idea as from the previous students who did this project made a lot of money and the recipe, preparations were quite simple and easy and it's not like every day you eat Boulette. ADVANTAGE 1.Availability Good thing is that Boulette are not available everywhere only in few Restaurants or you can easily make it at home. 2. Easy to make as ingredients are simple. 7 3.ingredients are cheap and it is available in most supermarkets. DISADVANTAGES 1.Time consuming It is quite time consuming to prepare and make the food and also to prepare the add-ons. 2. Some students might be vegetarians. PESTLE Analysis ❖ POLITICAL Factors The fish dumplings benefit widely as it operates in a stable and sound democratic environment. Nonetheless; the Mauritian Government has laid down many laws so as to protect the end users of product, this is why Food Act was enacted in 1999 and amended several times to be in line with new customer expectations. A 15% value added Tax is also levied on all products offered for sale. Imports of all foodstuffs require an FDP issued by the ministry of health & Quality of life. ❖ ECONOMIC Factors Manufacturing of the fish dumplings have transformed over the years with new technology in automatic machinery, the industry is still Laboure intensive. The economic state of our island has deteriorated with unemployment rates hat have increased to a percentage of 7%. This has in turn led to a decrease in consumer buying power and many tend to view the purchase of fish dumplings as a luxury. Increased prices coupled with high cost of living usually force consumers to concentrate on the basic needs, which is not the case for fish dumplings. 8 ❖ SOCIAL Factor Fish dumplings has also been affected by social change; there has been a big change in Mauritian's lifestyle who now enjoy to go out, buy and enjoy fish dumplings at restaurants, mostly teenagers and adults. This change has also occurred due to restaurants opening in big mall like “Ocean Basket” at Bagatelle. Mauritians are also concerned about their health. This is why Mauritians are reluctant to consume fish dumplings which contain fat . ❖ Technological Factors Internet is an easy tool to get any information about any products, and many people like to have complete information on a product and a company’s goodwill before making any purchase. Buyers check the ingredients and other elements also. Popular fish dumplings brand is more seen on television and Billboards like “Maremer”. Nonetheless, automation has improved the manufactured of fish dumplings products: the preparation and filling of fish dumplings are ready made available in packages are now mechanized. ❖ LEGAL Factor There are many influential legislations and regulatory factors in a firm’s environment that can alter the firm’s operations. Fish dumplings companies need to design its strategies according to each country and region’s Health and Safety laws as well as keep a close watch on changing Tax and economic policies. ❖ ENVIRONMENTAL Factors Every large organization takes social initiatives for environmental sustainability. These companies are committed to practice environmentally sound businesses throughout the world, thus playing a vital role in preserving natural resources. Fish dumplings ‘s manufacturing needs to be environmentally sound and it needs to ensure that its impact is minimal. 9 SWOT Analysis STRENGH • • • • • • • Unique and varied flavors Good location: next the Cantine Everybody likes fish dumplings Sell at a low price than other shops No other competitors Limited risk High profitability WEAKNESSES • Competitors can offer similar products quickly • Limited start-up cost • High transportation costs • Limited flexibility in pricing • Lack of experience of owning and managing a business • Climate may affect the sale • Lack of brand recognition when compared to other OPPORTUNITIES • Affiliate relation with related vendors • Development of the products • Develop better communication with customers • Achieve our objective • Push for fish dumplings which are better for the health THREATS • Changes in regulations can impact the business • Products are already sold by major competitors • Increases in price inputs can cause upward pricing • Trend of towards eating healthier that focus on eating less fat 10 QUESTIONNAIRE NAME: ________________________ AGE: __________________________ GENDER: _______________________ OCCUPATION: ___________________ Please spare a few minutes of your valuable time to answer this simple questionnaire by circling your answer. 1.How often do you visit restaurants to eat dumplings. A. Everyday B. Weekends C. Once a month D. Rarely 2. which of the following fish dumplings brand do you like the most? A. Dodo B. Maremer C. Figo D. BoBo 3. Are you satisfied with the services provided by the other brand chain? A. 4. At what time of the day do you prefer to eat fish dumplings? A. Morning B. Noon C. Evening D. Night 5.What variety of dumplings would you like to have in the school? A. Fish B. fish & chicken C. Cheese fillings 6. If I sell fish dumplings inside the school would you be interested in buying them? A. Yes B. No C. depend on the price 11 7. Where would it be easier for you to buy the fish dumplings? A. Next to the canteen B. In the school yard C. In a class 8. How do you rate the price decided for the products? (Rs 25) A. Cheap B. Affordable C. Costly 9. What would you suggest on top of the fish dumplings? A. Fish sauce B. Queue d’oignon C. Sui Mai D. All of them 10. Reasons for not making a purchase? A. High price B. Topping not available C. Other ( Allergies/ dislike it) 11. Please give any suggestion, if any? ___________________________________________________________________ ___________________________________________________________________ Thank You DATE: ____________ SIGN: _______ 12
