Question 1

a. Entrepreneurs are born not made. This can be justified due to the reasons stated below. To become a
successful entrepreneur some inborn qualities and traits are essential. Now industries are operating in a
highly competitive environment and the entrepreneurs must process and apply the skills and traits in an
appropriate manner to become successful entrepreneurs.

b. There are many characteristics of successful entrepreneurs. They are 1. Adaptability and decision
making, 2. Ambitious, curiosity and self-confidence. 3. Team building capability, 4. Persistence and risk
tolerance. The conditions and customer requirements are changing day by day. Therefore, successful
entrepreneurs must be adaptive to the changing environment. If the customer requires additional
features for a product, then to become successful the entrepreneur must adapt to the situation to come
out with a product with the features suggested by the customers. Decision making is another required
characteristic for an entrepreneur. When the product reaches the maturity and decline stage of the
product life cycle, the entrepreneur must have the decision-making ability to go for new product
development. As an example when product sales decline, appropriate decisions regarding product
development is to be taken. Ambition, curiosity and self-confidence are the other characteristics of a
good entrepreneur. Curiosity is necessary to make an entrepreneur capable of exploiting new horizons.
Team building capacity is another characteristic of a successful entrepreneur. Managing a team
successfully to meet the objectives of the company is very important. An entrepreneur is to be
ambitious and have confidence in him. As an example, we can say that successful entrepreneurs know
how to handle risky situations and always learn from their mistakes.

c. Entrepreneurship activities are important to the development of a country in terms of national

income, employment, GDP etc, to name a few. Entrepreneurship brings development to the nation and
is it has a significant contribution to the domestic and international economy. Entrepreneurship allows
industries to come out with improved and innovative products and services using modern technologies.
New businesses are created with innovative ideas and very talented people get a chance to work for the
development of society. Many established firms are originated as start-ups. Entrepreneurship helps a
large number of people in rural areas to get employment and daily livelihood. Entrepreneurship fosters
incremental as well as radical innovation.

Question 2

b) The COVID-19 crisis caused significant interruption and is probably going to affect economies all
throughout the world. SMEs have regularly been more affected than large firms by the COVID-19 crisis,
which have exposed their greater vulnerability.

Between 1 January and 1 April 2020, the drop in income for SMEs in the United States added up to 40%
to 50%. with incomes in January 2021 still 31% down contrasted with the previous year.

The COVID-19 pandemic situation and resulting monetary emergency have put numerous areas of the
American economy under unprecedented strain. The Treasury Department is offering financial help to
American industry so they can all the more likely help American laborers and have a vital influence in
driving the national recovery effort.

The United States Federal Reserve (Fed) has announced various crisis liquidity and lending programs
that range purchases in the public capital markets of government, mortgage, and corporate bonds19
and in the private loan market. The Main Street Lending Program will uphold bank lending by presenting
to purchase loans that meet specific rules to just for profit companies and non-profit organizations with
up to 15,000 employees or incomes of not exactly USD 5 billion. Principle repayments are deferred for
two years, and interest installments by one year, with limitations on buybacks, dividends and
compensation for borrowers to decrease moral hazard.

c) If you're creating your business plan for navigating the business, there are a few points you'll need to
consider.

Characterize your difficulties

In the beginning phases of COVID-19, it was enticing to focus in on firefighting as opposed to improving
whole procedures. Nonetheless, you need to distinguish both the speedy successes and the drawn out
plays for your image to remain agile in a perishing market. Clearly define the short-term and long
difficulties you're facing and what they mean for your product and your team, and make the important
corrections to your plan.

Make big decisions

While altering your existing business plan is a certain something, simply deciding and making a move are
essential to versatility. Meet talk with important employees, either remotely or face-to-face, and be
deliberate with your conclusions. You'll need to refocus, discover conceivable situations and pick your
battles. As troublesome as it very well might be, this will incorporate ending plans or items that no
longer make sense.

Be agile

Utilize the resources accessible to you. Join the better than ever working environment security measures
suggested by the World Health Organization, embrace remote working, represent labor force
adaptability and incline toward your network.

Question 3

b) What distinguishes an ordinary idea from an extraordinary one is the possibility of transforming it into
a salable product or service. Consequently, not all ideas are opportunities. B. Barringer and R. Ireland
write in their book, Entrepreneurship, that most startup ideas emerge in one of the two following ways:

Internal Reasons: When the entrepreneur decides to establish a company, he starts looking in the
market for opportunities and needs that he can meet by offering a certain product or service.

External Reasons: When the entrepreneur notes a gap or a need in the market, he establishes a
company that offers solutions and products for people with this need.

An opportunity should have several specific qualities, such as the right timing, the right product, or an
added value that the service offers to consumers to encourage them to purchase it.

The three key approaches to identify the best investment opportunities are:

1. Observing Trends
Study how customers interact with products. For instance, the latest PayPal report points to the fact
that mobile transactions in the Arab world are set to increase from 10% to 20% by 2015. Such
information shows that there is both a desire and a trend in our markets for mobile shopping, and an
entrepreneur might find in this case an opportunity to build a mobile application for purchases from
major local stores.

Observing such trends can be done through statistical reports published free of charge based on
research done by specialized companies and institutions. Some reports may not be free; these usually
contain more valuable and detailed information.

2. Solving a Problem

Recognize problems and develop innovative ways to solve them. Anti-virus software companies are
entirely built on this approach. The Wasselni app, for to take a regional example, is a startup project in
the Arab world that ameliorates an issue faced by almost everyone: traffic.

3. Gaps in the Marketplace:

Look for very specific segments of customers that other companies do not serve because they prefer to
target broader groups. Do you remember how Maktoob offered an Arabic language e-mail interface
back in 1998? At that time, big e-mail service providers such as Yahoo! and Hotmail were not paying any
attention to the Arab markets. Maktoob successfully took advantage of the opportunity to build one of
the biggest web companies in the Arab world.

These approaches might be helpful for entrepreneurs still in the planning phase, but they can also be
useful for entrepreneurs with existing projects looking for opportunities to develop and expand their
businesses.

c) Khaveena has to conduct the following feasibility studies to know the business viability:

1. Market Feasibility: Khaveena has to study the existing market players in the target market, their
customer base, future market growth, and projection of sales. This gives her insight into how feasible is
the market for the new entrants.

2. Financial Feasibility: Once the potentiality of the market is known, it is important to understand how
profitable is the market. To understand this, Khaveena has to conduct a feasibility study about the initial
investment required to enter the market, taxation, profit margins, and financial resources to expand the
market.

3. Organizational Feasibility: After making a market and financial feasibility study, Khaveena has to study
the business in the target market from the organizational perspective to understand whether the
market fits the organizational objectives, legal aspects, and availability of the required skill sets in the
target market.

4. Technical Feasibility: Technical feasibility study should be done to understand the feasibility of
transportation sources, manufacturing facilities (if required), hardware and software requirements to
conduct the business in the target country.

Thus by conducting the above feasibility studies, Khaveena can assess the business viability in the target
market.
d) ASEAN is a regional group in South-East Asia specifically formed to promote international trade in the
region. The group contains 10 countries with a combined population of 650 million. Further, the tropical
climate, increase in the health consciousness across the globe, increase in income patterns and GDP in
the past decade can provide a viable market. Since ASEAN countries are smaller in size, they provide
enough ground and scope for Khaveena to understand the culture and then extend to other Asian
countries. Thus, it is worth for Khaveena to extend her business to ASEAN countries. Professional
services firms (PSF) will be in high demand as investor confidence in ASEAN grows, especially in the
areas of business consulting, accounting, tax, legal, and marketing. PSF can tailor solutions to the
region's commercial systems and consumer markets.

Technology use is on the rise.

Entrepreneurs and small and medium-sized businesses (SMEs) in the region, particularly in technology,
risk management, and international tax advice services, are increasingly turning to professional service
organizations with deep local knowledge. As a result of the coronavirus outbreak, IT solutions are
becoming increasingly popular, as companies are compelled to use them to stay competitive.

countries in the ASEAN region are becoming more efficient. Thailand, Vietnam, Indonesia, and the
Philippines make up the majority of ASEAN countries, which means they can be used for increasingly
advanced manufacturing operations, such as the assembly of components into more complex goods.
These countries are efficiency driven economies, which are those that have reached the second stage of
development, where efficiency in producing products becomes the main competitive advantage.

These countries are distinguished by rising educational standards and a more developed regulatory
framework.

Investors in Singapore and Malaysia, two of the region's biggest innovation-based economies, can have
peace of mind knowing that labor contracts and disputes are subject to strict adherence to the rule of
law. These nations have the know-how and resources necessary to set up high-value manufacturing
operations and offer specialized services. They can do so.

Question 4

1.In Malaysia, one of the most effective marketing approach and best well-known app is Facebook.
Currently, majority of product sellers are using Facebook as their marketing tool. And cheap
advertisement in Facebook is another advantage for Halim. In Facebook, there is separate place for
selling and posting products. First of all, halim must follow some channels in order to post in particular
area meaning he should find channels to follow related his own product. Once he posts his product, he
can pay the marketing advertisement service for boosting the views. There might be a lot of customer
once his post boosted with views. View is customer and it helps to sell his products

2.Pros and cons of social media live

Pros or the advantages of social media live include such as it helps in creating brand awareness without
any Advertisement, more brand engagement, through sharing of the live streaming, helps in saving cost,
reduces the time to generate the content, recording, editing and posting
Cons include Technical issues lagging, blurred videos, warped sounds, or the slowness for people which
leads to losing viewers, tighten live censorship policies, controversies due to competition and
confidentiality for creating brand image, multiple brands live stream in a day.

3.Logistic and IT support system that Halim must outlay the success of social media marketing initiatives,
including representation of their operations related to the procurement, distribution, maintenance, and
replacement of materiel which they can show on their contents in their blog on the Website, social
media apps such as Facebook, twitter etc.