Arab Open University

Tutor Marked Assignment (TMA) – PT3 Form

Academic Year 2019-2020 Semester: Summer

Branch: Kuwait Program: Business Administration
Course Title: Principles of Entrepreneurship for Non-Specialists/English Course Code: GB102E
Student Name: Abdul Hussain Syed Students ID’: 190599

Section Number: 101 Tutor Name: Batal al Mutairi

Notes on plagiarism:
A. According to the Arab Open University By-laws, the following acts represent cases of cheating and plagiarism:
 Verbatim copying of printed material and submitting them as part of TMAs without proper academic
acknowledgement and documentation.
 Verbatim copying of material from the Internet, including tables and graphics.
 Copying other students’ notes or reports.
 Using paid or unpaid material prepared for the student by individuals or firms.

B. Penalties for plagiarism ranges from failure in the TMA to expulsion from the university.

Declaration: I hereby declare that the submitted TMA is my own work and I have not copied any other person’s
work or plagiarized in any other form as specified above.
Student Signature
Abdul Hussain Syed
 Starting a new Business

Part 1
Based on my formal education the Course that I had opted was commerce which I have taken in my High
school, what attracted me the most was the business subject, the term "business" itself refers to earn profit
and be my own boss which inspired me the most, I believe I have few of the skills which we require to
run or start a business. The most important skills which I have noticed in me is the leadership quality,
making proper decisions under pressure, interacting with people, group work and Management.

Based on my previous work experience, I worked as a Procurement administrator which is totally a

different job considering my education. It’s basically a computer job which was really hectic and was not
fun at all to work. However, I have developed few skills during the job which is very satisfying for me i.e.
interacting with the vendors/suppliers, managing inventory stocks, team work and time management
played a very important role.

Based on my hobbies, I love playing basketball as it releases stress over time. I got involved in basketball
because I was interested in the sport and I started playing it every day since I was a kid, also I got into my
school basketball teams. Basketball is very enjoyable to play when you get to know the rules. According
to me, I feel the skills which I have developed while playing basketball is focusing on your goal, Training
is very important and opponent’s strengths and weakness - this can be used as a basis for starting a
business.

I knew from a very early age what’s the best thing which I would love doing is to being my own boss
which itself is an advantage, I can control my schedule and destiny at the same time.

As I have mentioned earlier, I have good interacting skills because of my previous job and it could only
be possible through the team work, without them I wouldn’t have developed the skills. So, yes I do enjoy
working with people.

I highly prefer working in a retail, as I get to have my own chains of retails and sell the product at any
reasonable price.
Part 2
Gap analysis

Based on my research the best and profitable business is the clothing store, it brings a lot of opportunities
considering the fashion and trends for youngsters. Current state for products isn’t worth meeting the
expected strategy as I am lagging behind with the trend, I need to improve it in the coming years so yes
there is a gap in it. There are a lot of other retail clothing chain stores in the current location where I
planned to open a business, they provide with a better quality of products so there is one more gap, in
order to remove the gap I must shift the location to a more convenient place where there are no
competitors or provide customers with a good quality products.

Part 3

This business plan is based on retail chain stores for clothing. The capital for starting a business will be-
let’s say 100,000 kwd for a 5 year plan. The average contributions are 1000 kwd monthly so according to
the plan, during the first year the principle will be around 112,000 kwd, second year 124,000, third year
136,000, fourth year 148,000 and fifth year 160,000. There is a good growth of 10% each year which is a
very fair profit if we obtain goals as planned. The business will start on a partnership basis for opening
the clothing store, we must think of a good location where we can build my business perfectly for a good
start up profit and think of a good interior designs as this store is mainly focusing on youngsters so we
need something that would attract the youth. Launch online facilities for more convenient services. The
management team will provide a clear objective of in the five year period. The financial targets will be
shown to be realistic given the strengths of the business and its strategic position. The management team
will be committed to achieve the strategic goals. They have a clear plan of strategic stages to realize the
potential of the business and generate healthy returns for all stakeholders and with proper teamwork will
be able to build a perfect business.