- You are required to read the case “SplendidShoes” and write a report addressing the following tasks:
Using relevant review of literature, discuss the primary causes of the small business failures in the Sultanate of Oman.
Critically analyse the major entrepreneurial characteristics that Majid and Sultan should possess or develop in order for SplendidShoes to succeed.
By using relevant literature review, examine major business – idea generating techniques.
Case Study: SplendidShoes
Majid owns a well-established shoe making business, SplendidShoes, which has a good brand name. He has been operating the business successfully as a sole trader. The innovative designs and quality products that it manufactures are key to the success of SplendidShoes.
Due to the rising demand, Majid wants to expand and open new branches. He wants to convert his business into a partnership. He is thinking of taking his best friend Sultan, who is an accountant, as a partner. However, to expand the enterprise, the partners will require more money. A bank is ready to provide finance but has requested Majid and Sultan to prepare a business plan. As a sole trader, Majid kept limited records of business transactions. Sultan has always told Majid that a business should have proper financial record keeping and proper inventory (stock) control. Otherwise, this may lead to poor management of the business.
Both Majid and Sultan are aware of the risks that are present in an enterprise. Sultan is energetic and enthusiastic about the new experience as an entrepreneur. He thinks that investing in new IT equipment can improve communication with all stakeholders in the business, reduce waste and improve the productivity at SplendidShoes.
The three key elements of the SplendidShoes strategy are affordability, attractiveness and comfort – in other words, comfortable shoes at good prices.
Deliverables
Submission
Submission of the individual report will be done via Turnitin Link on MOVE. At the time of submission, you need to make sure that the assignment is your own and all the sources have been acknowledged.
Is there a size limit?
1500 words (+/-10%)
