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 حل واجب BE322/4 حلول واجبات الجامعة العربية المفتوحة تواصل 00966597837185

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تاريخ التسجيل : 27/09/2012

مُساهمةموضوع: حل واجب BE322/4 حلول واجبات الجامعة العربية المفتوحة تواصل 00966597837185   الأربعاء أكتوبر 10, 2018 5:43 pm

حل واجب BE322 00966597837185 حلول واجبات الجامعة العربية المفتوحة من المهندس أحمد

http://aoua.alafdal.net/t181-topic
ARAB OPEN UNIVERSITY
FACULTY OF BUSINESS STUDIES
B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES
Fall - 1st 2018/2019

B322 - TMA (Fall 2018/2019)
_____________________________________


Introduction
This TMA has three questions. Answer all of questions. The questions in this assignment are mainly about developing entrepreneurial ideas. The last question (Q3) is based on the case study below (page 5). Q1 requires you to propose an idea in connection with business concepts given in Block I. Q2, based on question Q1, asks you to reflect and elaborate on the ‘marketing mix’ (4 Ps or 7 Ps) needed to achieve your entrepreneurial objectives. Q3 asks you to show an understanding of market research. Furthermore, you should show an insight into the reasons why market research can reduce the risks of a new product launch in relation to the case study.

Question 1 (30 marks)
As an entrepreneur, explain your business idea and describe it as a business proposition using the business competition chain as illustrated in sessions I and II. Word count: 500 words (+/-10%).

Question 2 (30 marks)
Based on the idea produced in Question 1, elaborate on the main barriers to innovation/creativity faced when starting a business using ‘the innovation uncertainty matrix’ to illustrate, and provide practical solutions to overcome them. Word count: 500 words (+/-10%)

NOTE: The following question (3) is based on the case study below (page 5). However, students are required to use external sources (in addition to the case study) to find and use relevant concepts and examples in their answer.


Question 3 (40 marks)
Define the concept of marketing mix. Discuss in detail the promotion and price elements used in the case study. Support your answer with relevant examples from the case study. Word count: 700 words (+/-10%)









































Guidance to Question 01:
Keep in mind that this question is intended to test your ability to be innovative. Try to express your idea logically and creatively using the business competitive chain. You need to show the validation of your idea. “Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service or website. The entire purpose is to expose the idea to your target audience before you build and release the final product”. Examples of some steps to validate your idea: look for it, seek feedback and build a minimum viable product (MVP). If your idea has support and your testing goes well and you feel that you might have a winning idea, then finally start building your identity and brand around it now.
Your tutor’s feedback will be helpful in clarifying to you any misconceptions you might have about the idea you are proposing and how it can be articulated.
Guidance to Question 02:
Based on the idea produced in Question 1, explain the main barriers to innovation/creativity faced when starting a business using ‘the innovation uncertainty matrix’ (book 1, session 3), you will identify and discuss potential barriers to creativity and innovation, and propose solutions to overcome these obstacles.

Guidance for Question 3
You are expected to define marketing mix and to discuss two of its elements: promotion and price, using examples from the case to support your answer. You can refer to session 7 (Workbook 2) for some helpful ideas/concepts, in addition to the case study.


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حل واجبات الجامعة العربية المفتوحة لجميع المواد والتخصصات,مع نخبة من أفضل الاساتذه والمهندسين المتخصصين
اميل المهندس أحمد A_Al_SHORA@hotmail.com
ARAB OPEN UNIVERSITY
FACULTY OF BUSINESS STUDIES
B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES
Fall - 1st 2018/2019

B322 - TMA (Fall 2018/2019)
_____________________________________


Introduction
This TMA has three questions. Answer all of questions. The questions in this assignment are mainly about developing entrepreneurial ideas. The last question (Q3) is based on the case study below (page 5). Q1 requires you to propose an idea in connection with business concepts given in Block I. Q2, based on question Q1, asks you to reflect and elaborate on the ‘marketing mix’ (4 Ps or 7 Ps) needed to achieve your entrepreneurial objectives. Q3 asks you to show an understanding of market research. Furthermore, you should show an insight into the reasons why market research can reduce the risks of a new product launch in relation to the case study.

Question 1 (30 marks)
As an entrepreneur, explain your business idea and describe it as a business proposition using the business competition chain as illustrated in sessions I and II. Word count: 500 words (+/-10%).

Question 2 (30 marks)
Based on the idea produced in Question 1, elaborate on the main barriers to innovation/creativity faced when starting a business using ‘the innovation uncertainty matrix’ to illustrate, and provide practical solutions to overcome them. Word count: 500 words (+/-10%)

NOTE: The following question (3) is based on the case study below (page 5). However, students are required to use external sources (in addition to the case study) to find and use relevant concepts and examples in their answer.


Question 3 (40 marks)
Define the concept of marketing mix. Discuss in detail the promotion and price elements used in the case study. Support your answer with relevant examples from the case study. Word count: 700 words (+/-10%)




Guidance to Question 01:
Keep in mind that this question is intended to test your ability to be innovative. Try to express your idea logically and creatively using the business competitive chain. You need to show the validation of your idea. “Idea validation is the process of testing and validating your idea prior to launching your business name, tagline, product, service or website. The entire purpose is to expose the idea to your target audience before you build and release the final product”. Examples of some steps to validate your idea: look for it, seek feedback and build a minimum viable product (MVP). If your idea has support and your testing goes well and you feel that you might have a winning idea, then finally start building your identity and brand around it now.
Your tutor’s feedback will be helpful in clarifying to you any misconceptions you might have about the idea you are proposing and how it can be articulated.
Guidance to Question 02:
Based on the idea produced in Question 1, explain the main barriers to innovation/creativity faced when starting a business using ‘the innovation uncertainty matrix’ (book 1, session 3), you will identify and discuss potential barriers to creativity and innovation, and propose solutions to overcome these obstacles.

Guidance for Question 3
You are expected to define marketing mix and to discuss two of its elements: promotion and price, using examples from the case to support your answer. You can refer to session 7 (Workbook 2) for some helpful ideas/concepts, in addition to the case study.



CASE STUDY (related to question 3)
“The Bathing Suits Start-Up Business”

When 38-year-old Malia Mills decided to launch her own swimwear company, she set out to do much more than just sell high-end bathing suits. Mills wanted to inspire a beauty revolution that would fundamentally change the way that women felt about themselves. Before she be¬came an entrepreneur, Mills had worked in the fashion world as a designer for established ap¬parel companies. Mills, a native of Hawaii, saved the money for her start-up investment by work¬ing for many years as a waitress in New York City. She started Malia Mills Swimwear in 1991.
The motto of Mills's business is "Love Thy Differences," and Mills is passionate about en¬couraging all women, regardless of age, weight, or body type, to feel good about themselves and to celebrate their uniqueness. In Mills's world, if a woman does not like the way she looks in a swimsuit, it is the suit that has to change, not the woman. As she explains, "We are passionate about inspiring women to look in the mirror and see what is right instead of what is wrong.”

The Polaroid Project
If you walk past the Malia Mills Swimwear flag¬ship store in New York's SoHo, the first things you will notice are the photographs in the window. Instead of showcasing fashion models, the window display features a collage of Polaroid pictures of customers wearing the company's signature swimwear. According to Mills's sister, Carol, who manages the store, "We've had so many customers walk in off the street because of those photographs. People are thrilled to see actual women in all colors, shapes, and sizes wearing our suits." The Polaroid project actu¬ally began as an offbeat idea thought up by a summer intern on a particularly slow sales day. Mills liked the idea of using photographs of her customers because it resonated with the core mission of her business.

Place Matters: Setting the Right Tone
To create a comfortable environment for her customers, Mills has constructed her stores to look and feel like cozy lounges. She herself always hated trying on bathing suits in depart¬ment stores under the glare of unflattering fluo¬rescent lights. In her boutiques, the lighting is soft and dressing rooms are located in the back so that the customers will not feel exposed to other shoppers. She provides free bottled water so that they can feel relaxed and at home. Sales associates are always on hand to assist with find¬ing the appropriate suits. Mills does not believe in a one-size-fits-all design philosophy. People's bodies do not come in packages of small, me¬dium, or large. Accordingly, her tops are sized like lingerie, and bottoms come in sizes 2 to 16. All pieces are sold as separates, which allows customers to mix and match across different style and fabric options, as well as size.

The Price/Production Connection
Malia Mills' suits are priced at the high end of the swimwear market. A bikini top or bottom will cost somewhere between$130 and $165, and one-piece suits run an average of $325. This pricing scheme reflects some of the choices Mills has made as an entrepreneur about how her suits are produced. For example, she chooses to manufacture in New York City instead of outsourcing production to Asia or elsewhere, where labor costs are lower. According to Mills, "It costs us much more per unit to sew our suits locally but supporting our community is worth it. The women (mostly) who sew our suits do so with extra care—we visit them often and they know how important quality is to us."
Mills chooses to import the fabrics she uses from Europe and she typically buys them in small quantities, which is more costly, so that her designs stay fresh. Mills also pays a premium to the fabric mills that custom-dye her materials in unique colors and this also contributes to the bottom line of her manufacturing costs. Her suits are so well made that she sometimes wor¬ries about undercutting herself in the market¬place. If the average woman owns two or three bathing suits and a Malia Mills suit can last several years, it could take a long time for a customer to seek a replacement.

Smart Selling Requires Trial and Error
Early on, Mills sold her suits wholesale to depart¬ment stores, but she found that this strategy did not fit well with her core mission. Mills's suits got lost on the racks next to other brand-name apparel, and the salespeople did not understand how to answer customers' questions about the unique features of her product, such as how they are sized differently from other swimsuits. Eventually, Mills decided to sell directly to the consumer. Maintaining control over the sales process has allowed Mills to stay true to her mis¬sion of providing women with an enjoyable and empowering experience, purchasing swimwear that fits in a relaxed environment.

Promotions: Getting the Word Out
Over the years, Mills has been successful in generating PR. Her company has been profiled in major publications such as the New York Times, Sports Illustrated, and Harper's Bazaar. It has helped to have celebrities such as Madonna wearing her suits, especially when they are pho¬tographed in public. Recently, Mills began pur¬chasing advertising for the first time in local print media. She is doing this as an experiment to see if it has a noticeable impact on generating new customers. In the meantime, the growth of Malia Mills Swimwear continues to be propelled by word of mouth and customer loyalty. Each day, the business connects with passersby who are lured into the store by the Polaroid photo¬graphs of ordinary women wearing her bathing suits. Once these women walk in off the street, there is a pretty good chance that they will walk out as customers.
Source: Based and adapted from Mariotti, S. and Glackin, C. (2013. Entrepreneurship: starting and operating a small business, edition 3. New Jersey: Pearson Education Limited.


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