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Coursework title: Individual Assignment

2. Subject Code: MBAPML205

3. Subject Name: ENTREPRENEURSHIP DEVELOPMENT

4. Academic Year: 2018 June Start

5. Student First Name: VINOD

6. Student Last Name: KUMAR JAKHAR

7. Student ID No.: 180755118265

8. Student’s personal Email ID: vinod4dubai@gmail.com

1. Using a diagram, explain business planning process.

BUSINESS PLANNING PROCESS

It is a set of theoretical and practical steps to be taken in order to know what is your current

situation, where you want your business to be in the future and how you are going to do

your business to get there.

Planning is important for all the types of organizations irrespective of its size, variety of

products, number of employees there is no standard planning process as such. Among

which few of crucial steps are listed below.

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1) Perception Of Opportunities.
This is not an actual step in the planning however before going for the planning process one

has to study & find opportunities in the environment. If an opportunity does not exist in the

surrounding whole planning process may fail. So, to make planning more successful one has

to study legal, political framework or existing position, change in customer mindset change

in technology competition, the present position of the industry level. Here organization

has to analyze its own strengths & weakness if the good opportunity is existing in the

surrounding organization can proceed to the next step.

For Eg. For Industries like hotels, the market is good nowadays because the income has been

increased over the last 5-6 years, the lifestyle of youth has been changed, even females are

working more in number these days, etc.

2) Establishment of Objectives
Once the opportunity is perceived in the organization and unit objectives are been set from

which specific results are expected at the end of planning. The organizational objectives

should be specific to all key result areas.

For e.g. Sales profitability, R& D, quality & so on. Once these objectives are set the

objectives of lower units that are department objective setting is a crucial task that guides

the organization throughout the planning process. Planning Premises

3) Planning premises
It is nothing but study of external & internal environment i.e. SWOT analysis is nothing but

the study of external & internal environment i.e. SWOT analysis

External environment includes the study of following

1. Indian Economy.

2. National income availability of natural resources.

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 3. Availability of natural resources.

4. Political, social, legal technology.

5. Competitors plan –their status in the market.

While internal environment includes

1. Availability of the workforce.

2. Availability Of funds cost-effectiveness.

3. Cost-effectiveness.

4. Brand strength.

5. High market share.

This one will analyze strength/weakness/opportunity & treat in the organization & out of an

organization.

4) Identification of alternative
This is an important step where companies find various alternatives to achieve a particular

objective.

For e.g. If a company wants to launch a new mobile hand, this can be done in various ways

1. Creating mobile for youth

2. Creating for low- or high-class-income group

3. Whether smartphone including 3g & 4 g features

4. There should be mobile manufactured in India or out of India

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5. Evaluation of Alternatives
Various alternatives are evaluated for different criteria like cost, future competition,

generation of profit, the requirement of manpower, etc. Out of this best suitable alternative

is been selected

6) Choice of alternative
After the evaluation of the various parameter, the best alternative is selected this alternative

is selected by keeping in the view of environmental factor. Planning process & objectives

7) Formulation Of Supporting Plan

Once the best alternative or plan is selected a various supporting plan are prepared to

support the main plan like as

1. Buying of raw material

2. Recruitment of new staff

3. Training of staff

4. Advertisement plan

5. Buying of equipment’s

8) Establishing a sequence of activities

Once the supporting plan was prepared the sequence of actions are  decided

for eg Who will do a specific task when it will be completed what exactly he has to do etc

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Write the advantages of PRP. Explain the major content of Preliminary
Project Report?

Project Preliminary Report is a formal document that describes specific activities, events,

occurrences, or subjects of a project to explain progress of the project up to a certain point

in time (but not later than completion time). This document is presented and communicated

at project status meetings to explain what goals, deliverables and results are produced and

what activities are still in progress. The document serves as the basis for developing the final

project report.

ADVANTAGES OF PRELIMINARY PROJECT REPORT

1. At the stage of preparing Preliminary Project Report you may have in mind not just 1

venture/product, but 3-4 ideas to choose from.

2. Preliminary Project Report helps you to understand to move ahead and to understand

what is important for future plan success.

3. You will get help with your business expenditures from Preliminary Project Report.

4. It will help you to get the new vendors, investors to your business.

5. Preliminary Project Report will help you in get an idea of the budget which goanna

investing in your business.

6. Preliminary Project Report you get enough data such as projected production level,

RAW material requirements, infrastructure requirement, requirements of power and

water, production and economic viability of the projects etc. which help in decision-

making.

7. Preliminary Project Report instill confidence in you and motivates to start the time-

consuming process of data collation and preparation of a Detailed Project Report

(DPR).

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THE MAJOR CONTENT OF PRELIMINARY PROJECT REPORT:

1. Name of the entrepreneur, Address, Educational Qualifications, Work Experience, Any

special training, type, location and name of project, type of the organization

(proprietary / partnership etc.).

2. Details of machineries and equipment such as specifications and price, and addresses

of their suppliers.

3. Details of raw materials required such as quantity, price and source.

4. Type of Utilities required such as Electricity, Water, fuel, etc., and annual expenditure

on these utilities.

5. Type and no. of manpower requirement such as skilled, semi-skilled, unskilled etc.,

and details of expenditure on their salaries.

6. Details of fixed capital requirement for land/building, machinery, furniture & fixtures,

etc.

7. Details of working capital requirement for raw material stock, semi-finished goods

stock, finished goods stock, one moth production expenses (utilities + salaries).

8. Total cost of the project which is a summation of fixed capital, working capital,

preliminary & pre-operative expenses.

9. Means of Finance such as term loan, working capital loan, own investment, subsidy,

etc..

10. Project profitability analysis which includes calculation of sales revenue,

manufacturing expenses, selling & distribution expenses, administrative expenses,

Interest, depreciation, gross profit, Income tax, and net profit.

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Explain the story of Rahul Bajaj?

Rahul Bajaj was born 10 June 1938 and is one of the prominent go getter industrialists of our
Country and is a member of the Indian Parliament. He hails from the business family of Rajasthani
Marwadi. His father Jamnalal Bajaj was also a great businessman

Rahul Bajaj has flagship company Bajaj Auto with brand Chetak. Rahul Bajaj has been awarded the
Padma Bhushan in 2001.

Rahul Bajaj is currently listed 34th on the Forbes list of richest people in India.

Rahul Bajaj is an alumnus of Harvard Business School, and graduate from prestigious St. Stephen’s
College, Delhi University and later he did his PG from Government Law College, Mumbai.

Rahul Bajaj has created one of India's best companies in the difficult days of the licence-permit raj.
Bajaj Auto has flagship factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer
in India and its Chetak brand had a 10-year waiting period

Rahul Bajaj is India's most outspoken industrialist. As chairman of the Bombay club Bajaj was among
the few to have vehemently opposed India 's liberalization programme in the early 1990's.

Top Scooter players of the World like Honda, Suzuki, Yamaha, Piaggio, Garelli, Peugot entered
through collaborations or joint ventures in India but Bajaj Auto continued to dominate in the market
and Mr. Rahul Bajaj took the competition with great competency and quality control.

While Hero Honda captured the motor-cycle market Bajaj hung on to its scooter business. Post the
liberalization and the change in the demographic profile the younger Indian began to prefer motor-
cycles to scooter. Bajaj Auto finally re strategized the market and now Bajaj is also having quite
heavy share in Motor cycle segment of Auto market.

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Rahul Bajaj believes in giving people a lot of independence. He prefers them to learn while on the
job. Rahul Bajaj is very assertive and thinks that he created one of India's best companies in the
difficult days of the license-permit.

Achievements
Apart from his achievements as the CEO of BAL, his individual achievements are:
 He is the only top executive to have served two terms as president of the Confederation of
Indian Industry (CII).
 For his contribution to Indian industry, he was awarded the nation's third-highest civilian
honor, the Padma Bhushan, in 2002.
 He was nominated to the Rajya Sabha from Maharashtra in June.
 He was said to be the 20th richest man of India according to the Forbes India poll on top 40
richest persons in India.
 The Government of India appointed Mr. Bajaj as the Chairman of the Development Council
for Automobiles and Allied Industries, 1975-77.
 In 1975, Mr. Bajaj received the “Man of the Year” Award from the National Institution of
Quality Assurance.
 Mr. Bajaj was selected as Business India's Businessman of the Year 1985.
 Mr. Bajaj was Chairman of Indian Airlines between 1986-89.
 Mr. Bajaj received the Bombay Management Association Award for The Most Distinguished
Services in the Field of Management – 1990.
 Mr. Bajaj was appointed by His Royal Highness, The Prince of Wales as a Member of the
Prince of Wales International Business Leaders Forum in February 1992.
 FIE Foundation awarded Mr. Bajaj the Rashtrabhushan Award in 1996. Lokmanya Tilak
Smarak Trust awarded Mr. Bajaj the Tilak Award in 2000.
 He was also conferred the Alumni Achievement Award by the Harvard Business School in
September 2005.

Rahul Bajaj has strong feeling that Management Graduates should have following must qualities
to succeed in their future corporate life:

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  Listen effectively as that would give enough space to rationalize and innovate
 Think like an entrepreneur as that would give space to become at least Intrapreneur during
job
 Cross functionality will help to go for adopting skills of multi-tasking
 Smart work combined with hard work

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Reference’s:
 Singhania University-MBA Text Book, E.2017, Legal Aspects Of Business
 Entrepreneur and Entrepreneurship: A Quick Guide to Establish MSME in India, E.2014
 Entrepreneurial Development, S S Khanka, E:2006
 https://business.mapsofindia.com/business-leaders

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