Think Like an Entrepreneur Assignment | Get Paper Help
Think like an Entrepreneur”-
You are an entrepreneur and just started your business (few months or a year back). You were doing fine but all of a sudden you experience a hump because of COVID-19. How will you save your business?
This assignment has three parts-
1. Think about Financial Management
2. Think about People (HR)
3. Think about Supply Chain Issues
Important point is that you think like a leader who own this business and not like a manager who won’t be affected much. You have to plan and prepare a strategy keeping in mind COVID-19 situation and its effects on economy and workforce.
1. You may select any business but you should know basics of it- How does cash flow in this particular industry? What kind of skills sets are required? What are the core competencies? What are the best practices in the industries? Use information from variety of sources- case studies, news articles, personal experience etc.
2. Now gather relevant information from vast amount of existing literature on internet- use news articles to understand what businesses are affected most? Where is your (selected) business in this scenario? What is the support available (or not) from government agencies? What your competitors are doing in this scenario? How is the supply chain affected (stopped or delayed)?
3. Now connect all the points and make a plan (report) for your business. Provide your strategy to survive in this condition. Give a timeline- what will you do with all three parts in next month, next 6 months, next 1 year. (example- Provide cost analysis- approx. debt situation as a part of your plan).
Remember-
Your assignment should reflect that you can understand the bigger picture of business. You are not just worried about one aspect but know how to prioritize these managerial functions.
Assignment/Report will be graded on-
1. Basic understanding of (selected) business and its most important requirements. Alignment of different financial, supply chain and people functions with it. (8)
2. Relevance of information collected and connected together to provide a meaningful business report. (6)
3. Overall presentation of report (includes silly mistakes, formatting/editing issues, list of sources among others) (6).
