Term Project Report
-
Upload
muhammad-ali -
Category
Documents
-
view
219 -
download
0
Transcript of Term Project Report
-
8/4/2019 Term Project Report
1/21
ENTREPRENEURSHIP
&
SMALL BUSINESS
TERM PROJECT REPORT
CASE STUDY OF MR. JAVEED
OWNER OF JAVEED NEHARI
-
8/4/2019 Term Project Report
2/21
SUMBMITTED TO:
DR FAZAL A KHALDI
SUBMITTED BY:
Dated: 05th
September 2011
SYED MUHAMMAD ALI 2010-3-11-11048
RANA JAVED 2010-3-11-11042
MUHAMMAD BILAL HUSSAIN 2008-1-07-9203
SYED KAMRAN AHMED 2008-1-02-9248
-
8/4/2019 Term Project Report
3/21
LETTER OF TRANSMITTAL
August 20, 2011
Dr Fazal A Khaldi
Course Instructor
Entrepreneurship & Small Business
Institute of Business Management
Dear Sir:
We have been assigned to submit a report on an interview and case study of any
entrepreneur, for which we have selected Javeed Nehari. This report leads us to
exploring horizons of moving an idea to a business, managing and growing the business
Hotel.
Evaluating case study in real work environment had been an exhilarating experience for all
of us and is going to help in our professional career
We express our deep gratitude to you for giving us such great deal of learning opportunity
Regards,
SYED MUHAMMAD ALI
RANA JAVEDMUHAMMAD BILAL HUSSAINSYED KAMRAN AHMED
-
8/4/2019 Term Project Report
4/21
ACKNOWLEDGMENT
We would first like to thank Almighty ALLAH for His Blessings. This report is dedicated to our
parents, without whom none of our accomplishments in life could have been achieved. Their
unconditional love and unending support of our personal endeavors has been a major factor in giving us
the strength to pursue MBA program.
We are very grateful to Dr Fazal A Khaldi course instructor for Entrepreneurship and Small Business,
who provided the opportunity to learn the successfully launching new venture domain. We truly
appreciate his efforts to make the concepts easy and relevant examples given throughout the course. We
would also like to thank our institution for the support and patronage we received.
And last but not least we would like to extend our heartiest thank to Mr. Javeed for his support,
cooperation & guidance in collecting the data for completing this project which was of utmost
importance.
Regards,
SYED MUHAMMAD ALI
RANA JAVEDMUHAMMAD BILAL HUSSAINSYED KAMRAN AHMED
-
8/4/2019 Term Project Report
5/21
TABLE OF CONTENTS
LETTER OF TRANSMITTAL .......................................................................................................................... 3
ACKNOWLEDGMENT ................................................................................................................................. 4
EXECUTIVE SUMMARY .............................................................................................................................. 6
DECISION TO BECOME AN ENTREPRENEUR .............................................................................................. 8
Introduction........................................................................................................................................... 7
DEVELOPING SUCCESSFUL BUSINESS IDEA ............................................................................................... 9
Recognizing the opportunity and generating the idea ....................................................................... 10
Feasibility analysis ............................................................................................................................... 12
Industry and competitor analysis ........................................................................................................ 12
Business model .................................................................................................................................... 13
MOVING FROM AN IDEA TO A BUSINESS OF HOTEL ............................................................................... 16
Building a team .................................................................................................................................... 15
Assessing a financial strength and viability ......................................................................................... 16
Ethical and legal foundation ................................................................................................................ 16
Business plan ....................................................................................................................................... 16
Finance or Funding .............................................................................................................................. 16
MANAGING AND GROWING THE BUSINESS OF HOTEL ........................................................................... 17
Marketing issues ................................................................................................................................. 18
Intellectual property............................................................................................................................ 18
Evaluate the challenges of growth ...................................................................................................... 18
Strategies of growth ............................................................................................................................ 18
RECOMMENDATION FOR THE JAVED NIHARI ......................................................................................... 19
Segment the CEO ................................................................................................................................. 19
Restaurants Ambiance ....................................................................................................................... 19
Spacious Space .................................................................................................................................... 19
Avail the opportunities ........................................................................................................................ 19
Expand the Business ............................................................................................................................ 19
1- There are economies of scale that will benefit an expanded operation ................................ 20
2- Your competitors expanding ................................................................................................... 20
Home Delivery Service ........................................................................................................................ 20
Export .................................................................................................................................................. 20
-
8/4/2019 Term Project Report
6/21
EXECUTIVE SUMMARY
This report comprises of case study of Javeed Nehari Hotel. The objective of this report is to
study the complete real situation and different stages of business and to relate the
entrepreneurship and small business theory with the practices pursued by the Javeed Nehari
Hotel.
The report covers all parts of entrepreneurship of successfully launching new ventures.
DECISION TO BECOME AN ENTREPRENEUR
Entrepreneurship is becoming a focal point in much of the popular press as well as in
academia. Economic theory has yet to make a concerted effort at explaining
entrepreneurship, either its role in economic development or its determinants.
DEVELOPING SUCCESSFUL BUSINESS IDEAS
A new idea is often the basis for starting up a business. Many entrepreneurs spot a gap in the
market and start businesses that provide a product or service that fills it. Others come up with
ways to improve an existing product.
MOVING FROM AN IDEA TO A BUSINESS OF HOTEL
Every successful business starts with an idea. Getting the idea, however, is the easy
part! Translating that idea into a viable business model is where most people fail. Most
businesses fail in the idealization phase.
MANAGING AND GROWING THE BUSINESS OF HOTEL
Once a start-up business is up and running, how does an entrepreneur manage it? Often the
entrepreneurial spirit of self-confidence, creativity, focus and control leads to financial and
personal grief as the enterprise grows. A hands-on entrepreneur who gives birth to the business
loves perfecting every detail. But after the start-up, continued growth requires a shift in
management style.
-
8/4/2019 Term Project Report
7/21
-
8/4/2019 Term Project Report
8/21
DECISION TO BECOME AN ENTREPRENEUR
Some entrepreneurs are open about the reasona layoff followed by a time without finding a
new job forced them to improvise. Fair enough. Others look back and claim that a brave
moment of clarity prompted them to leap into a new lifestyle when in reality they, too, were
forced by circumstance.
As per our academic understanding the three primary reasons that people become
entrepreneurs and start their own firms are:
Desire to be their own boss
Desire to pursue their own ideas
Financial rewards
But in our discussion with Mr, Javeed, the reason was that he wanted to do his own business
without considering the other circumstances because at that time when he started he did not
had anything to lose if his idea gets fail.
Introduction
Mr Javeed the owner of Javeed Nehari hotel started his business from a handcart at
Kareemabad of Halwa Pori then his brother advised him to open a very small shop of Naan.
After that he decided to start Nehari at same place. His ancestors belongs to Dehli (India) and
had the same business of Nehari. Luckily he set a formula masalas of Nehari that became too
much popular than everyone likes it. Very slowly and steadily he continued his business and
now it has become that largest hotel of Nehari in Karachi. He is associated with this business
more than 32 years.
He thinks that there is no need to open its branches in the city or any other place of Pakistan
because same taste will not be possible to provide at each place and ultimately the
reputation will effect and the business may suffer.
We interview of Mr. Javeed and attempted to explore the strategies and management due to
which a very small shop became the largest Nehari Hotel of Pakistan.
-
8/4/2019 Term Project Report
9/21
-
8/4/2019 Term Project Report
10/21
DEVELOPING SUCCESSFUL BUSINESS IDEA
When Mr. Javeed started his business at that time he did not think about the idea that how
much it would be successful because he was not educated and not well aware about the
business plan or idea. Now if we consider his idea then we can analysis those 30 years before
the idea which came in Mr. Javeed mind had chances of success. A detailed study was
carried out and attempted to correlate with our course.
Marketing a restaurant business used to be a relatively simple thing: Create an ad, run it in the
paper or give a chunk of cash to the Yellow Pages people, and youre state. Even your
biggest and worst mess ups didnt usually get known outside of a small c ircle of people.
Restaurant marketing success today depends not as much on what you say about yourself but
what other people say about you.
It doesnt matter if these comments are based on facts or fiction, or if one of your staff
happened to have a bad night, or if you had to fire an employee and now they are retaliating
by smearing your restaurant business online. Its of no consequence if the customer was irate
and unreasonable. These comments are now there for the entire world to see and judge and
as a result, your restaurant business suffers.
With social media and review sites everywhere, the reputation of your restaurant business isunder constant scrutiny of literally thousands would-be-guests. Some of them could be strolling
down the local street and reading your restaurant reviews on their cell phone while others
would be miles and miles away, on their computer, planning their trip to your city.
Recognizing the opportunity and generating the idea
As we all know that an opportunity is a favorable set of circumstances that creates a need for
a new product, service or business. Trends create opportunities for entrepreneurs to pursue.
The most important trends are:
Economic forces.
Social forces.
Technological advances.
Political action and regulatory change.
-
8/4/2019 Term Project Report
11/21
When Javeed Nehari business is correlated with opportunity so we can say when this business
was set at that time the circumstances were
At that time there was no Nehari restaurant in the vicinity.
-
8/4/2019 Term Project Report
12/21
Feasibility analysis
Feasibility analysis is the process of determining whether a business idea is viable. It is the
preliminary evaluation of a business idea, conducted for the purpose of determining whether
the idea is worth pursuing.
Timing of Feasibility Analysis
The proper time to conduct a feasibility analysis is early in thinking through the
prospects for a new business.
The thought is to screen ideas before a lot of resources are spent on them
Components of a Properly Conducted Feasibility Analysis
A properly conducted feasibility analysis includes four separate components, as
discussed in the following slides.
Forms of Feasibility Analysis
I. Product/Service Feasibility
II. Industry/Target Market Feasibility
III. Organizational Feasibility
IV. Financial Feasibility
Is an assessment of the overall appeal of the product or service being proposed? Before a
prospective firm rushes a new product or service into development, it should be sure that the
product or service is what prospective customers want.
Industry and competitor analysis
Industry analysis is a type of investment research that begins by focusing on the status of an
industry or an industrial sector. Why is this important? Each industry is different, and using one
cookie-cutter approach to analysis is sure to create problems. Imagine, for example,
comparing the P/E ratio of a tech company to that of a utility. Because you are,
in effect, comparing apples to oranges, the analysis is next to useless.
-
8/4/2019 Term Project Report
13/21
Business model
Market Trends
The market trend for restaurants is headed toward a more sophisticated customer. The
restaurant patron today relative to yesterday is more sophisticated in a number of different
ways.
Food quality
The preference for high-quality ingredients is increasing as customers are learning to
appreciate the qualitative differences.
Presentation/appearance
As presentation of an element of the culinary experience becomes more pervasive, patrons
are learning to appreciate this aspect of the industry.
Health consciousness
As Americans in general are more cognizant of their health, evidenced by the increase
in individuals exercising and health club memberships, patrons are requesting more healthy
alternatives when they eat out. They recognize that an entree can be quite tasty, and
reasonably good for you.
Selection.
People are demanding a larger selection of foods, they are no longer accepting a limited
menu.
The reason for this trend is that within the last couple of years the restaurant offerings have
increased, providing customers with new choices. Restaurant patrons no longer need to
accept a limited number of options. With more choices, patrons have become more
sophisticated. This trend is intuitive as you can observe a more sophisticated restaurant patron
in larger city markets such as Seattle, Portland or New York where there are more choices
available.
-
8/4/2019 Term Project Report
14/21
SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the hotel and
describes the opportunities and threats facing Javeed Nehari hotel.
Strengths
Strong relationships with vendors that offer high-quality ingredients and fast/frequent
delivery schedules.
Excellent staff who are highly trained and very customer attentive.
Great retail space that is bright, hip, clean, and located in at a commercial location.
High customer loyalty among repeat customers.
High-quality food offerings that exceed competitors offerings in quality, presentation,
and price.
Weaknesses
A limited marketing budget to develop awareness.
The struggle to continually appear to be cutting edge.
Opportunities
Same franchise can be opened at different locations of city and country. Increasing sales opportunities in take out business.
The ability to spread overhead over multiple revenue centers.
Threats
Competition from local restaurants that respond to Javeed Nehari superior offerings.
Available restaurants at Yaseenabad chains found in other markets coming to Eugene.
A slump in the economy reducing customer's disposable income spent on eating out.
-
8/4/2019 Term Project Report
15/21
-
8/4/2019 Term Project Report
16/21
MOVING FROM AN IDEA TO A BUSINESS OF HOTEL
Building a team
Assessing a financial strength and viability
Ethical and legal foundation
Business plan
Finance or Funding
-
8/4/2019 Term Project Report
17/21
-
8/4/2019 Term Project Report
18/21
MANAGING AND GROWING THE BUSINESS OF HOTEL
Marketing issues
Intellectual property
Evaluate the challenges of growth
Strategies of growth
-
8/4/2019 Term Project Report
19/21
RECOMMENDATION FOR THE JAVED NIHARI
A restaurant owner is the one who has all of the responsibilities of maintaining and running the
business. A restaurant owner is sometime also the restaurant manager.
Segment the CEO
He should divide the responsibilities and must hire or promote someone to take care of many
of the required daily functions of the business, This including overseeing, ordering and tracking
all of the food, supplier, equipment and other inventories needed. It also consists of
maintaining the building and equipment. Other jobs may include hiring, training, directing,
scheduling and dismissing employees.
The Finance, promotions, and goals of the business are part of the owners responsibilities. He
should keep an eye on the market, seek opportunities and new ideas.
Restaurants Ambiance
When you walk into a restaurant with great ambiance or atmosphere, whether it be lovely
furnishing, soft lighting, beautiful dcor, paintings, fresh flower, what ever it is , it makes you
more comfortable in your surroundings. The chances are in this type of place the food will be
delicious. It makes everything taste good. It will be something you will not soon forget.
Javed Nihari restaurants ambiance needs improvement, so we would recommend him to
improve the restaurants ambiance. Food is only part of what makes eating out so much fun.
Spacious Space
Restaurant sitting arrangement and space is inadequate and customers usually wait for tables
and many peoples do not come to restaurant due to space deficiency. It is recommend to
enhance the space, so that customer do not wait and gladly willing to come to restaurant.
Avail the opportunities
This is the time to avail the opportunity of expending the business, as now a days therestaurants business is flourishing and many new restaurants are opening, so that it is suitable
time to use their name and launch new outlets and products.
Expand the Business
The decision to extend the scope of your business must be a result of thoughtful
consideration of various factors, including the financial, logistical, even your
-
8/4/2019 Term Project Report
20/21
emotional readiness. The rule of thumb is that you should only expand when there are
untapped opportunities that can benefit your business. There may be a niche that
you want to capture; or a location not serviced even by your competitors.
1- There are economies of scale that will benefit an expanded operation As your businessincreases in size, costs per unit fall, resulting in lower prices or higher profit - or both. You should
only expand if economies of scale will allow your business either to sell your products or
services at lower prices or to take more profit per item.
2- Your competitors expandingMarket intelligence should play a key part in your decision toexpand your business. You may be able to get important clues about the market, and some
indication about your competitor's situation. Getting information about your competitors can
give you the leading edge, as it can show you ways in which your company benefit the
customer and be unique. Zahid Niahri has started the outlets on different location in the city
and successfully running the new outlets. Following your competitor's lead does not necessarily
mean that you have to duplicate exactly what they are doing. Instead, you can use their
ideas to stimulate your own thinking.
Home Delivery Service
Its important in business to not only have a good product but to market it as well! After all,
what use is the best product if no one knows about it?
We would recommend him to launch the home delivery service, because no one is offering
this service in Nihari restaurants. This will not only increase the sells but also swell the brand
name.
You can use call centers for order booking and third party for the distribution.
Export
There is one more opportunity to export the Nihari out of country in tin packing, like Ahmed
sweets. You can get a big export market in UAE, Saudi Arabia, UK & USA etc., because there is
large number of Asians populace and they like to eat Asian foods.
-
8/4/2019 Term Project Report
21/21
SO IF YOU WANT YOUR BUSINESS TO SUCCEED, DEDICATE YOURSELF TO IMPROVING YOUR PRODUCT TO GIVE YOUR
CUSTOMERS MORE OF WHAT THEY WANT, AND THEYLL REWARD YOU BY COMING BACK - AND THEYLL BRING THEIR
FRIEND ALONG TOO!
This concludes our comprehensive studies of Javeed Nehari Hotel
END OF REPORT