Finall_project Rabee Ail

8/3/2019 Finall_project Rabee Ail

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Declaration"Being a final project report presented in part requirement

forEnerpenural Festival stall in Bachelors of Business Information and

Technology at the University of Management and Technology Lahore."

Presented by:

Fasiha Inam

Khola

Rabee

Ameer Malik

Ossama Waheed

Humza Ejaz

Presented to:

Mr. Manqoosh ul Rahman

"We declare that this report is, in entirely our own work, that it has not previously

been presented, in whole or part, for any other award, or published, in whole or

part, elsewhere."

Fasiha Inam .

Khola .

Rabee .

Ameer Malik .

Ossama Waheed .

Humza Ejaz .



Acknowledgement

We are thankful to Mr. Manqoosh-ur-Rehman for

assigning us this final project of Entrepreneur. We

appreciate his efforts and time for helping us and

providing his assistance throughout the project. Secondly

all the members of the group for giving time and helping

in different parts of this report. Lastly special thanks to

our parents for their prayers for accomplishment of this

task.

“Knowledge is in the end based on

acknowledgement.”

Acknowledgers:

Fasiha Inam

Khola

Rabee

Ameer Malik

Ossama Waheed

Humza Ejaz



Contents

Executive summary........................................................................4

Conclusion

Executive summary

Our stall was of “ sweet Corn” in Enterpenurial festival .

We were realy sucessfull in running that stall . The

products that we sold were Sweet corn , Brownies and we

also place some antiques in our stall . The reason behind

choosing this business was , that sweet corn is not well

known in most of the asian countries specialy in

pakistan. Asian people mostly eat corns as “bhutta”which we can buy from patthan’s (Private stall) . And in

more porshe area salty corns are being sold ,so people

now are not well aware of “sweet Corn” . We analysed

the gap in the mark and took the opertunity and created

it our business . We had a very positive response from

our stall and people liked the idea of “sweet Corn” and

Brownies . In the repot we gave the over all analysis of

our business . We have given Industry analysis , SWOT

analyis , PEST analysis which would help us in maintaing



and developing our business well. We have also given

operational detail , Hirachical model , Riska analysis and

exit strategies

Business Description

Form of business:

When beginning a business, one must decide what form of business entity to establish. So theform of business which we are going to start is of General Partnership; which means that all theowners will bear the personal responsibility for the operations and the liabilities of the business.In our business, every partner will bring specific benefit to the business in the form of capital,labor, or physical assets.

Owners:

This business was started by four friends in the form of partnership. There is no single owner. So

the owners of this business are: Osama Waheed , , Fasiha Inam. Ameer Raza and Humza Ijaz.

Name of business:

The name of venture is “Super Corn”.Business description:

We have decided to open up our venture in UMT. The business which we are going to start is basically selling sweet corns, and brownies. We will be operating this business from the cyclewhich is easily movable.

Location

The location of “Super Corn” is UMT.

Product description:

For now, we will be operating in two products; sweet corns and brownies.

• Sweet corn (also called sugar corn,) is a variety of maize with high sugar content.Cooked sweet corn has significant antioxidant activity, which has been suggested toreduce the chance of heart disease and cancer. Cooked sweet corn also releases increasedlevels of ferulic acid, which provides health benefits, such as battling cancer.

• Super Sponge (Brownie) we offer various types of brownies with differentconsistencies and, of course, ingredients. We typically serve hot and cold brownie.



Gap identification:

We observed that in pakistan specialy in lahore , their are very limited place where Brownies

and as well as Sweet corn were sold . And Cooked corn were only sold in more Upper class or we can say allied class areas with cost alot . Also Sweet corn is something that very less peoplenew about .

So we decided to open the business of Sweet corn and brownies . We will target all threeclaesses (lower,middle,upper) . And we will not bound our worker to stuck in one place . we willgive him a cycle . So that he can also sell within the streets and colonys.

Market and Reaserch analysis

For research we choose lahore . We took convenice sampling . We mostly asked our friendasand family that wather they liked our idea and what amenedes we should made in it . For the price of sweet corn and Brownies we visited Pace , Mall of lahore , Liberty market and fortress

Research and Analysis

INDUSTRY ANALYSIS

Porters Model:

1) Competitive rivalry:

Intensity of rivalry depends on the number of competitors and their capabilities. So in our

business, for now competitive rivalry is quite low because there is no such strong competitor in

the market for our product or business. There are competitors in the form of other food items,

but as for corns and brownies, there is no competitor. In the case of food variety available in the

campus, our business has high competitive rivalry but in the case of sweet corns and brownies,

there is low competitive rivalry.

2) Power of suppliers:



Suppliers are also essential for the success of an organization. Raw materials are needed to

complete the finish product of the organization. Suppliers do have power. Our suppliers are Sun

Corn, Hateem Traders and Hyper Star.

3) Power of buyers:

Buyers or customers can exert influence and control over an industry in certain circumstances.

This happens when:

It is very low because there is no such company which is offering the same product like us.

There is little differentiation over the product and substitutes can be found easily. So we are

differentiating from others in our menu. There are substitutes but not of the same food item.

Secondly, customers are sensitive to price. So our pricing is low as our target market is

university, students or faculty is not willing to pay much.Switching to another product is not costly that is why we are differentiating, we are providing

better quality of food, Good in taste, Low price and healthy and nutritious food. We will be

catering those who are diet conscious as well calories lover. As a result, buyers do not have any

choice currently.

4) Threats of substitutes:

As already mentioned, our target market is university, so for now there is no substitute if the

same product available. Substitutes are there but of different menu. Prices of our products are

reasonable and affordable. As in order to be successful, one has to look at different perspectives

in which prices is a major part.

5) Threat of new entrants:

The threat of a new organization entering the industry is high when it is easy for an organization

to enter the industry i.e. entry barriers are low. So in our business, threat of new entrants is high.

As it is a food market where entry barriers are very low.



PEST ANALYSIS:

Political Factor:

Political environment in Pakistan has been following the ups and downs since the existence of

Pakistan. When examining political factors, we need to look at any political changes that could

affect our business. So in our business, there is no such thing which will be affected by

government or any law.

Economic Factor:

It is important to consider the state of an economy in the short and long-terms. Economic

factors will affect our business in the form of:

1. Interest rates

2. Prices of the commodities

3. Tax that will be charged by the campus

Social Factor:

The elements that build society. Social factors influence people's choices and include the beliefs,

values and attitudes of society. So understanding changes in this area can be crucial. Such

changes can impact purchasing behavior.

Typical things to look at for each of these include:

• Consumer attitudes to your product & industry

• Attitudes to health - attitudes to wealth - attitudes to age (children, the elderly, etc.)

Technological Factor:

Technological factors can lower barriers and reduce minimum efficient levels. So it is vital for

Competitive advantage. It will affect our business. In such a way that continuous

improvement in technology or the equipments that will be used in this business will reduce

our production time and will increase the efficiency level.



SWOT Analysis:Strengths:

1. Eatables are always consumers focused.

2. Availability3. Taste

4. Students want some light to eat during classes’ time.

5. healthy source of nutrients

6. low cost of production

Weakness:

1. The first weakness is that we are starting this business for the first time. We have no

practical experience of this business before.

2. Taste of the products can be rejected by target market.

3. There is a rigid mentality of people to adopt to the change in their lifestyle

4. People are unaware of this sweet corn

5.

Opportunity:

1. Sweet corns market is expanding day by day.

2. Food habits are changing

3. Standard of living is improving which means people are more towards the nutritious

food

Threats:

1. Copying by new Competitors, it will cause serious problem for our business.

2. If students get any problem it can be blamed to us

3. Approval from institutes

4. Food variety is increasing in the campus which may cause a threat to our business.

5. fashion of junk food is increasing day by day in youngsters



KEY SUCCESS FACTORS:

1. Low Cost of Production

2. Quality of food

3. Knowledgeable sales staff

4. Location

5. Prices

6. Product itself (globalization)

IFE/EFE MATRIX:

MARKET SIZE & TRENDS:Growth potential

As today’s generation increasingly is turning towards the light and nutritious food as well junk

food to satisfy their appetite, SWEET CORNS is playing an ever-growing role. Specifically our

sweet corns are now preferred by youth and professionals. So in our business, there is a high

growth potential. In order to expand our business, we will be using following strategies:

1. Market penetration which means we will be selling our products to the existing market

as our products are also an existing one. We will increase the consumption of our

products by users by introducing loyalty schemes.2. Market development: which means we will sell our existing products to the new

market.

3. Product development: which means we will also introduce new products in our

business for the existing as well new market. We will modify our products which can

appeal to existing market, with a different selling way (on vans etc), variety in flavors

of corns and brownies.

Barriers to growth

1. Customer Satisfaction If customers are not satisfied, there will no repeat purchases, no

referrals to other prospects, and no feedback to guide product improvements. Oneunhappy customer can be more costly than acquiring ten new customers.

2. Positioning

3. Market: Market barriers can take two forms:

• The market isn’t ready to accept our products.

• The market isn’t big enough for these products



1. Information Chaos:Information chaos causes great confusion; complete disorder. If people will not provideus with their feedback, it will be difficult for us to enter in any market.

Competitor’s analysis:

In order to do competitor’s analysis, we must know who our competitors are? What are their

strategies and objectives? How they are going to react if we make certain changes in our business?

Keeping all these points in our mind, we analyzed that our competitor for now is the cafeteria.Their objective is to energize the appetite of their customers. Before our business or the launchof our product, our competitor has the major market or it have the whole market share. But as weentered this market, most of their customers got attracted towards Sweet Corns and Super Sponge. By observing the response of customers towards our products, our competitors tried toregain their customers by reducing their prices or by adding more dishes to their menu. Strengthof our competitors was, that there was no other competitors of their.

Marketing Strategy

Market Segmentation:

Diet conscious women / men

Young enthusiastic students

Professional people

People who love to try different food items

Target Market:

Institutions

Students

Facility members

Staff

Product Description:

Unique Selling Proposition:

‘Energize your appetite’

Sweet corn (also called sugar corn,) is a variety of maize with high sugar content. Cookedsweet corn has significant antioxidant activity, which has been suggested to reduce the chance of



heart disease and cancer. Cooked sweet corn also releases increased levels of ferulic acid, which provides health benefits, such as battling cancer.

Super Sponge (Brownie) we offer various types of brownies with different consistencies and,of course, ingredients. We typically serve hot and cold brownie.

Value proposition:

We are differentiating from others in such a way there is no other person in institute practicing

this type of business. Our prices are lower than other products. Sweet corns are nutritious and

good for health.

Pricing Strategy:

Cost:

Cost of corn: Rs. 300 per packet

Cost of cup and spoon: Rs. 3 per cup and spoon

Cost of plate and folk: Rs. 5 per plate and per folk

Butter: Rs. 110 for 2 days

LPG gas: Rs.100 per day

Tissue papers: Rs. 50 per day

Brownies flavoring: Rs. 350 per kilo

Prices:

Sweet Corn Small Cup: Rs. 50

Sweet Corn Large Cup: Rs. 70

Sweet Sponge (Brownie): Rs. 60 per piece

Sales and Distribution Channels

We define distribution as the method companies use to deliver products or services to their

target market and channel as the means by which products or services are distributed so the

distribution channel which we are going to use is: selective distribution; which means that our

products will not be available at every cafeteria or universities. Instead there will be only one

distributor i.e. at the cafeteria in one institute. Also known as the exclusive distribution; an

extreme form of selective distribution.



Selling refers to the exchange of goods and services for an amount of money or its equivalent in

kind. It also helps in achieving the organizational goals. So managing sales in an organization is

a critical activity. Selling strategies which we will be using are:

• Direct selling

•Instant service

• Double-win strategy

• Relationship based selling

Advertisement & Promotion:

For the advertisement the most used medium now a days are the social websites. We give ads

and product details, pricing and most important of all our differentiation.

The second most important medium is the print media we will use posters, broachers for the

attraction of consumers.

For the promotional activities or for the initiation we use sampling technique. Most of the

students avoid paying if they don’t know the taste of the product and they go for some substitute

which they already tried.

We use pull strategy for promotion and advertisement activities.

Promotional Strategy

• Word-of-Mouth

• Publicity

• Sampling

• Discounting

• Advertising

• Personal selling

•

Public relations

Advertisement:

Direct Mail

• Point of Sale



• Outdoor

(Signage/Billboards)

• Internet

OPERATIONAL DETAILS

Capacity Management:

In starting our on hand capicity would be of 4 to 5 days . If the business suceeded then we will

maximize our capacity

Inventory Management:

There are no finished goods which have to be managed as the production and supplying to the

sellers is continues. Unless the raw material has to be managed which is not a big deal because

for better quality and taste we have to use the fresh products excepting the things which can be

stored for longer time like sugar, flavors etc.

Suppliers:

Our suppliers are Sun Corns, hyperstar, and Hateem Traders. There is no contract with them.

Locations:

Our factory location where Brownies are baked and our cycles are last stop is near Township.

Logistics:

Sellers take brownies from the production house and sweet corn ingredients because sweet corns

can be cooked in cycle steamer.

Human Resource Management

Organogram



Staffing Planning:

In start of our business we have;

1 head Cook

3 helpers

10 Sales people who will use cycles and go to different institutions for the

selling activity.

Salaries:Salary of Salesperson- PKR 7000

Salary of Chef/Cook – PKR. 9000

Job Descriptions

JD of Salesperson

Statement of the Job

Sell goods for wholesalers or manufacturers to businesses or groups of individuals. Work requires substantial knowledge of items sold.

Duties of the Job

1. Greet customers and ascertain what each customer wants or needs.2. Compute sales prices, total purchases and receive and process cash or

credit payment3. Prepare sales slips or sales contracts.4. Inventory stock and requisition new stock5. Maintain records related to sales

6. Provide customers with product samples and catalogs.

7. Recommend products to customers, based on customers' needs andinterests.

JD of Chef/ Cook



Statement of the Job

Prepare and cook large quantities of food for institutions, such as schools, orcafeterias.

Duties of the Job

1. Prepare and cook foods of all types, either on a regular basis or forspecial guests or functions

2. Check the quality of raw or cooked food products to ensure thatstandards are met.

3. Plan, direct, or supervise the food preparation or cooking activities of multiple kitchens.

4. Apportion and serve food to facility residents, employees, or patron

5. Wash pots, pans, dishes, utensils, and other cooking equipment.

6. Direct activities of one or more workers who assist in preparing and

serving meals.7. Cook foodstuffs according to menus, special dietary or nutritional

restrictions, or numbers of portions to be served.

Job Specifications

Js of Chef/Cook:

Knowledge

Food Production

Skills

1. Time Management — managing ones owns time and the time of others.

2. Monitoring — Monitoring/Assessing performance of you, otherindividuals, or organizations to make improvements or take correctiveaction.

3. Service Orientation — actively looking for ways to help people.

4. Quality Control Analysis — Conducting tests and inspections of products, services, or processes to evaluate quality or performance.

Education

High school diploma or equivalent



Less than high school diploma

Some college, no degree

JS of Sales Person:

Knowledge

1. Sales and Marketing

2. Customer and Personal Service

Skills

1. Negotiation — bringing others together and trying to reconciledifferences.

2. Persuasion — persuading others to change their minds or behavior.

3. Service Orientation — actively looking for ways to help people.

4. Coordination — adjusting actions in relation to others' actions.

EducationSome college, no degree

Critical risk

1. Potential problems

Our potential problem comes out from our threats. i.e. what if our idea get copied by any

other? Or what if any competitor enters into this market and start giving us tough time?

2. Obstacles & risks

According to the Entrepreneurial Strategy Matrix we fall in the second quadrant i.e. iR Low

innovation and high risks. It is easily copy by competitors. The risks are What if we face a

major financial loss? And what if the venture fails? etc. The problem could be in the form of

any disruption of the forecasts.

3. Contingency plan

We have made certain back up or contingency plans for certain situations. For instance,

if some-thing happens to any of us five entrepreneurs we have succession plans for that.

Exit strategy



Our exit strategies we have decided that say for instance due to some unfortunate reason we are

not able to meet our financial projections within 4 years and we are not reach the growth stage.

So, instead of going for liquidation we will be using following exit strategies:

• Shut it down

•Sell it

Milestone Schedule

All of the following are in Appendix

PERT

CPM

Manpower Loading

Conclusion

To sum up with , “sweet Corn” is a realy good idea to work on .The uniquness about this product is its “sweetness” people arenot well awre of its taste and flavor.The target customer of this



product would mostly be Kids but youngsters and adults prefrencesses would also be kept in mind . So if it is launchedwithi in lahore at fortress ,pace , liberty , makro ,metro it will behighly sucessfull

Finall_project Rabee Ail

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