Entrepreneurship Project Essay

1333 WordsNov 4, 20146 Pages
Department of Management College of Business Administration MGT314 Entrepreneurship Management Course Assignment Spring AY13-14 Group Project Assignment Each group is required to submit a written project assignment. The length of this project should be between 20-25 pages, typed using font size 12, 1” margin all round and 1½ spacing in Times New Roman. The project assignment is about: • Entrepreneurial Challenges in Managing Small and Medium-Sized Enterprises (SMEs) Businesses in the United Arab Emirates This is an exciting assignment to practice and hone your skills in business and entrepreneurship. You are expected to work in teams and present an oral presentation (i.e. in PowerPoint) at the end of semester. The purpose of this assignment is to help you to develop your skills in recognising the strengths and weaknesses in an existing business environment in your country. Pick a small or medium-sized local business. It can be either a retail business or a service business, but not a wholesale business or a manufacturing business. Visit the business two or three times and observe its operations. Talk with the business owner/founder/manager and the staff. Write a report in which you address both the practical and where applicable theoretical concepts surrounding the following issues: a. Briefly describe the business and its legal type. Discuss why the owner/s originally went into business and why its legal form was chosen. What forms of local support were/are available to this particular business? (3 marks) b. Did the owner purchase/inherit an existing business or did he/she start up a new business? Discuss the advantages and disadvantages of starting up an existing business compared to purchasing an existing one. What are the challenges in doing business in the UAE (note: feedback from the owner may be useful in answering this

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