ENGINEERING ENTERPENURESHIP

Quiz No 2

Submitted By: -

Ahsan Waheed Abbasi 206-FET/BSEE/F17

Submitted To: -

Sir. Humayun Shujja.

Department of Electrical Engineering

Faculty of Engineering and Technology

International Islamic University, Islamabad

Answer 1: -
On a scale of 1 to 10, I could rate Smarty Pants at 6. And on the other hand, I could rate
DonorChoose at 8 out of 10. Obtaining clients testimonials is a pretty spectacular
approach that Smarty Pants. Prime real estate on its Web site is devoted to “What
Parents Are Saying about Smarty Pants Multi-Vitamins.” Pictures of parents and kids
are included. Samantha S. from New York, New York, for example, says “My girl is a
very picky eater and I love that she loves Smarty Pants.”
Donors Choose prominently displays the impact it makes. In the final week of March
2011, which was a typical week, it collected money from 31,615 donors, 1,525 projects
were completed, and 90,577 students were affected. Its financial records are audited by
a public accounting firm, and its records are available to the public upon request. This,
in my opinion, builds credibility and agree with to donors to exceptional extent. You as a
donor can be very certain that your cash is used for the proper and meant purpose.
That is what credibility and agree with are all about.
Answer 2: -
It is not reasonable for an organization to address its famous character on its site. It is
not right to put or contact something that you know is not right. In like manner, great
words, and terrible internment. Groups that remark on their moral guidelines will depend
on reality according to brilliant and talented customers who execute and diminish
validity and bargain.
The firm will depend on clients to impact its moral principles and not presently the actual
organization.
Answer 3: -
Building validity and trust help a firm or association keep away from lawful debates. A
decent standing for an organization is acquired after some time because of conveying
extraordinary administrations and positive input from partners. The manner by which an
organization really conveys its administrations to customers decides its standing, trust,
and validity. Organizations need to consider partners needs and discover more
approaches to pacify existing and unsurprising requests to make more viable
organizations and turn away legitimate disputes.
Answer 4: -

Following are the things that new companies, regardless of whether for-benefit or
charitable do that need to cause validity and doubt:

Most new businesses will be in a rush to get more customers, so they lose the center
and assurance to comply with time constraints to an excessive number of individuals.
They dread that truism no will prompt a misfortune in business. New businesses site or
logo or email address looks ridiculous or crude, so clients will be dicey about the
believability of the organization. Showing clients criticisms on the site is a smart thought,
however not giving the names of individuals who composed those inputs spikes doubt.
Passing on a beginning up's motivation is a smart thought, yet while depicting the
organization using words, for example, "revolutionary" or the "industry's best" will be
excessively smooth. An organization is not showing any presence in the long-range
informal communication destinations, at that point additionally, it stirs doubt. A new
business asserts that it is helping a cause and requests that customers or clients
contribute not appearance how it is spending will not acquire the trust from the
benefactors.

Summary

In case of a prospective customer in a for-profit context or a prospective donor in a

nonprofit context, it is important that the company or organization presents itself in a
manner that builds credibility and trust during first encounters. There are a few different
ways organizations and associations can assemble believability and trust. We present
eight procedures that are fundamental in virtually all cases in the following rundown.
Coming up next are instances of how two associations—one for-benefit and one not-for-
profit—are building validity and trust by means of these methods: Have an attractive
logo, corporate e-mail address, and professional-looking Web site. Display prominently
on your Web site the media coverage you have received. Get expert testimonials and
feature them on your Web site and in your literature. Ask customers, donors, or
recipients of the good or service you provide to test that good or service and then to
comment about their experiences. There is nothing that builds credibility and trust faster
than a founder telling the sincere story of why he or she is launching a company or
starting a nonprofit. Smarty pants (profitable) and Donner Choose (non-profitable) firms
follows these eight techniques successfully and done a successful venture.