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 ARAB OPEN UNIVERSITY FACULTY OF BUSINESS STUDIES B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES 2014/2015 SEMESTER II B322 - TMA - SPRING 2015 _____________________________________ Please read these instructions carefully, and contact your tutor if

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مُساهمةموضوع: ARAB OPEN UNIVERSITY FACULTY OF BUSINESS STUDIES B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES 2014/2015 SEMESTER II B322 - TMA - SPRING 2015 _____________________________________ Please read these instructions carefully, and contact your tutor if   السبت مارس 28, 2015 8:46 pm

ARAB OPEN UNIVERSITY
FACULTY OF BUSINESS STUDIES
B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES 2014/2015 SEMESTER II

B322 - TMA - SPRING 2015
_____________________________________

Please read these instructions carefully, and contact your tutor if you require any further clarifications. You should submit your completed assignment to your tutor to arrive no later than week 11.

Please use standard A4 size paper for submitting the hard copy of your TMA. Your name, personal identifier, course and assignment numbers must appear at the top of each sheet. A soft copy of your TMA must be uploaded to the university moodle within the indicated cut-off date. The hard & soft copies must be identical. Please leave wide margins and space at the end of each sheet for tutor comments. It is better to use double spacing so that you can easily handwrite corrections to your drafts and tutors have space to include their feedback on the script. Start each question in the assignment on a new page. Any extended text should ideally be word-processed, but, diagrams and accompanying notes may be hand drawn and hand written and on an A4 paper.

_____________________________________________

Completing and sending your assignments
When you have completed your TMA, you must fill in the assignment form (PT3), taking care to fill all information correctly including your personal identifier, course code, section & tutor, and assignment numbers. Each TMA and its PT3 form should be uploaded on the AOU branch moodle within the cut-off date. Late submissions require approval from the branch course coordinator and will be subject to grade deductions. All assignments are treated in strict confidence.
If you feel that you are unable to meet the cut-off date of the TMA because of unusual circumstances, please contact your tutor as soon as possible to discuss a possible extension to the cut-off date.
Plagiarism
The Arab Open University Definitions of cheating and plagiarism
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.
• Utilization of, or proceeding to utilize, contraband materials or devices in examinations.”
Penalty on plagiarism
The following is the standard plagiarism penalty applied across branches as per Article 11 of the university by-laws:
1) Awarding of zero for a TMA wherein more than 20% of the content is plagiarized.
2) Documentation of warning in student record.
3) Failure in the course to dismissal from the University.
All University programmes are required to apply penalties that are consistent with the University by laws.

Examples of Plagiarism

Copying from a single or multiple sources, this is where the student uses one or more of the following as the basis for the whole, or a good part, of the assignment:
1. Published or unpublished books, articles or reports
2. The Internet
3. The media (e.g. TV programs, radio programs or newspaper articles)
4. An essay from an essay bank
5. A piece of work previously submitted by another student
6. Copying from a text which is about to be submitted for the same assignment


Introduction
This TMA has four questions. You should answer all of them. The questions in this assignment are mainly about developing entrepreneurial ideas. The last question (question 4) is the only question that is based on the case study below (page 5). 1 A) is namely to be able to propose your idea in connection with business concepts given in Block I. 1 B) based on question 1 part A, reflect and elaborate on the ‘marketing mix (4 Ps or 7 Ps) needed to achieve your entrepreneurial objectives. In Q2) you should be able to demonstrate your understanding and reflect on the marketing research process. In Q3), you should show understanding and insight into important concepts such as the knowledge pyramid to justify the success of your venture. 4 A) you should be able to demonstrate your understanding on the distinction between management and leadership. B) You should show good understanding of Maslow’s hierarchy of needs and the democratic style of leadership.

Question 1 (30 marks)
A) Suggest an idea that could turn into a business proposition using the business competition chain as illustrated in session I and II. Word count: 500 words (15 marks)
B) Based on the idea produced in question 1 part A, identify and discuss the concept of the marketing mix required when introducing a new idea and starting a new venture. Word count: 400 words (15 marks)

Question 2 (20 marks)
Explain and discuss how your start-up business will go about identifying the groups or market sectors that will buy your product or service, using the stages in “the marketing research process.” Word count: 550 words (20 marks)

Question 3 (20 marks)
The key to innovation and entrepreneurial success lies in the ability to make effective use of individual and shared knowledge. Discuss and justify the success of your idea using the ‘information – knowledge pyramid’. Word count: 550 words (20 marks).

NOTE: The following question (question 4) is based on the case study below (page 5). However, students are required to use external sources (in addition to the case study) to find and use relevant concepts and examples in their answer.

Question 4 (30 marks)
A) Outline and explain the difference between leadership and management. Use examples to illustrate. Word count: 500 words (15 marks)
B) Employees are motivated by different things. In relation to Maslow’s hierarchy of needs, outline and discuss the way a democratic style of leadership helps to motivate employees. Use examples to illustrate. Word count: 500 words (15 marks)


Deductions (20%)

• PT3 Form (5% marks)
• Report Presentation and Structure, and word count (5% marks)
• Referencing (10% marks)


Guidance to Question 01
A) Keep in mind that this question is intended to test your ability of being innovative. Try to express your idea logically and creatively using the business competitive chain. Your tutor’s feedback will be helpful in clarifying to you any misconceptions you might have about the idea you are proposing and how it can be articulated. B) Applying the concept of the marketing mix requires a company to conduct useful market research and to develop and market each of the four Ps—Product, Price, Place, and Promotion; etc. Reflect and elaborate on the marketing mix needed to achieve your entrepreneurial objectives.

Guidance to Question 02
Refer to Figure 7.1 and Box 7.1 (session VII, page 41).You should show good understanding of the course material along with the proper way of connecting it with your newly started business. You should be capable to illustrate your thoughts and reflect critically on the marketing research process in relation to the new venture.

Guidance for Question 03
You should be able to connect the knowledge pyramid concept to your proposed ideas in order to show your reader an understanding of related materials given in session V. Keep in mind that this question is intended to test your ability of being reflective and practical. Try to express your idea in an effective and practical manner using the information-knowledge pyramid (figure 5.2, page 84).

Guidance for Question 04
A) Outline and discuss the difference between management and leadership. In addition to the case study, use external sources of info to answer this part.
B) You should show good understanding of Maslow’s hierarchy of needs and the democratic style of leadership. Outline and evaluate the way(s) democratic leadership style influences employees’ motivation. In addition to the case study, use external sources of info to answer this part.

CASE STUDY (related to question 4)
“Using a range of management styles to lead a business”

Introduction
For organisations to develop they require a direction. The people who manage the business provide the direction. Taking responsibility for making decisions and running a business well is a skill. Businesses place considerable emphasis on getting the right people with the right skills into key posts. They need to ensure that these people have the opportunities to develop decision-making skills.
Enterprise Rent-A-Car (Enterprise) employs more than 75,000 employees and operates a fleet of cars exceeding one million vehicles worldwide. It has become one of the foremost car-hire companies and is the largest purchaser of cars in the world. Jack Taylor founded the company in St Louis in 1957. The owner had a simple belief: ‘Take care of your customers and employees first and profits will follow.’ This belief forms the foundation of Enterprise’s four key business objectives of:
• Customer satisfaction
• Fleet growth
• Employee development
• Profitability.
These four business objectives link together:
• Enterprise does not sell a product. It provides a service – the use of a car. To deliver great service Enterprise needs well-trained and motivated staff. As the company grows, it opens new local offices and creates new opportunities for employees.
• Customers expect to be treated in a particular way by a service-orientated business. Enterprise uses its Enterprise Service Quality Index (ESQi) to measure the quality of service it provides. Satisfied customers will come back and give repeat business. They may also recommend the service to others.
• This leads to growth of the business and greater profitability.
This case study focuses on leadership within Enterprise. It shows how its managers use a range of management and leadership styles to support Enterprise’s focus on customers.
Leadership and management
Management involves control and organisation to get something done. In the course of business, managers use many different skills. They:
• plan and organise people and resources
• set and monitor budgets
• control operations or services in order to meet customers’ needs.
The ability to manage is essential at all levels in the organisation.
However, for a business to excel, leadership is vital. A leader is somebody who sets the direction and inspires other people. A leader is able to influence others in meetings or when making decisions. This helps to achieve the goals of the organisation. Enterprise has leaders at all levels of its business, not just senior management. Some people are natural leaders. For example, the captain of a school football team will probably have the ability to influence others. Leaders can also develop through training and education. Leaders are also managers. For example, an Enterprise General Manager leads a regional group of City Managers. City Managers are leaders of their front-line management employees. Andy Taylor, the current Chairman and Chief Executive Officer (CEO) of Enterprise, was a manager for his father Jack Taylor. He carried out the processes and systems his father set up. Today, Andy leads and manages the business.
There are many different management styles. These styles influence how leaders communicate with employees. For example, Enterprise operates an ‘open door’ policy. This enables everybody within the organisation to have direct contact with senior managers. This might be through meetings or having lunch in the same dining area. The CEO Andy Taylor is following the values set by his father by making opportunities for employees to meet and talk to senior managers. This shows an informal style and a lack of hierarchy. Enterprise puts a high value on teamwork and open communication between employees at all levels. Managers have their own preferred management style. Some prefer an autocratic style where they tell employees what to do and how to do it. Others prefer a democratic style where they help their team to discover solutions to problems for themselves. However, the management style must change to fit the circumstances. Some decisions must be made at the highest level. For example, a manager would need to give immediate instructions on a health and safety issue or in a fire. However, if changing an office layout, the manager could leave the team to investigate and decide on the solution for themselves.
Enterprise employs motivated individuals with the potential to become good leaders. When recruiting, Enterprise looks for leadership qualities in candidates. It considers leadership to be a core competence. It recognises that the skills and capabilities to lead others are essential for business growth. Recruits learn how to run parts of the business. The focus is on making decisions that improve customer service. General managers are empowered to make decisions covering a region. Branch managers have the authority to deliver good customer service locally. Each local branch operates like a small business. Managers make decisions that support the needs of their customers. Front-line management trainees are encouraged to use the best management style to suit different customers.
Autocratic style
An autocratic style of leadership is when a leader makes a decision alone. The leader conveys the decision to staff and they have to work within the scope of that decision. For example, in order to deliver good customer service, managers instruct all staff to follow Enterprise’s guidelines for dealing with customers. Douglas McGregor in 1960 used the terms Theory X and Theory Y to identify two very different forms of management style:
• A Theory X manager tells employees what to do and supervises their work. This involves using strict controls within the business. This reflects an autocratic style.
• In contrast, a Theory Y manager believes employees want to do well. The manager provides individuals with the opportunity to take control of their work. They can contribute towards solving a problem or issue. This helps motivate them to do better.
Enterprise needs its employees to use their skills to deliver high levels of customer service. This means an autocratic management style is inappropriate in daily routines. A branch manager sets the standards for the team but encourages team members to be flexible and responsive to each customer. This ensures that customers get the service they expect. However, there are many examples of autocratic style in use at Enterprise. These relate to issues which affect the whole organisation or which are central to the business. For example:
• Andy Taylor insisted all branches use ESQi, the customer satisfaction measure, because it met the business objective. In order to gain commitment to using the process, employees had the prospect of promotion when they achieved high scores. This was a big motivator for staff.
When the Senior Vice President of European Operations at Enterprise decided on the company’s diversity programme, employees were clear that this decision was compulsory and not an option.
• The Vice President of Corporate Communications for Enterprise established an environmental committee. Its aim was to influence the behaviour of the whole organisation by reducing waste and improving its carbon footprint. As the industry leader, Enterprise attempts to set high standards when it comes to the impact of rental cars on the environment.
Democratic style
In contrast to the autocratic style, Enterprise uses democratic decision-taking in many parts of the business. Everyone has the opportunity to contribute ideas to the decision. There are two types of democratic decision-making:
1. Persuasive democratic management – here the leader makes the decision first and then persuades employees that he or she has made the right decision
2. Consultative democratic management – this involves the group contributing to the decision making process, with the leader making the final decision.
The team is central to delivering good customer service. The consultative approach helps Enterprise achieve this business objective.
Enterprise operates through an extensive network of local offices. Branch managers and their staff need to make decisions to meet the changing needs of customers in a fiercely competitive market. Each office operates with a large degree of autonomy. This means that, in many areas of operation, local offices have the power to govern themselves and make changes without referring to senior management. They use different management styles with customers on different occasions. Examples of incidents they may have to deal with include:
• A car has been in an accident and a customer needs a hire car urgently. Local managers take a consultative approach to understand the issues and find the right solution for customers who might be upset or worried.
• A customer wants a vehicle for a weekend break. Branch staff will be more authoritative in recommending a specific vehicle to suit their needs. This helps to satisfy this customer and ensure repeat business. This independent approach enables Enterprise employees to have ownership of many of their activities. This acts as a motivator for staff. In 1943, Abraham Maslow, looking at motivation, identified a hierarchy of needs for individual employees. Everyone has needs for water, food, warmth and safety. These have to be met before a person can move on to fulfilling their higher needs.


When employees are empowered to make decisions, this improves their sense of worth and self-esteem. It also helps them to use creative skills within their role and motivates them to perform better. Making decisions at a local level helps to meet customers’ needs and enables individuals to take a pride in their job. This recognises that employees are motivated by factors other than financial ones. These include praise, recognition or having more responsibility.
Enterprise’s emphasis is on satisfying customers to grow the business. It also rewards hard work. To increase motivation, employees who achieve high levels of customer satisfaction have the opportunity of promotion. In addition, staff who perform well or who make the biggest improvement are recognised through the Enterprise newsletter or by membership of the Enterprise ‘Elite Club’. This reinforces self-esteem.
Laissez-faire
Derived from the French meaning ‘leave alone’, this is a loose leadership style. It allows employees to carry out activities freely within broad limits. It differs from the democratic style in that individuals are able to behave independently and make their own decisions, rather than coming together on an agreed course of action.
Small entrepreneurial teams manage and lead local Enterprise offices. These teams are decentralised and make many decisions on their own. This shows a type of laissez-faire structure. However, this management style has drawbacks. Some employees might not be able to motivate themselves or make the right decisions alone. Therefore individuals within Enterprise teams work to corporate guidelines for dealing with customers. Staff also receive regular training and feedback. Employees in a local branch have a sense of ownership for many of their activities. At the same time, they have the support and career structure of a large multinational company.
Many Enterprise branches contribute to regional and corporate decisions. For example, Enterprise’s Jack Taylor Founding Values Award demonstrates the laissez-faire approach. This is part of Enterprise’s corporate responsibility programme. Each region manages and participates in community projects. These may involve, for example, working in a nursing home or gardening for the elderly. If the region wins the award, it is free to use the money as it chooses. In 2007 the winning region in South East England received a grant of £10,000 to use for community projects in its area. As part of Enterprise’s commitment to conservation, it has planted 40,000 trees in Scotland and is committed to planting 50 million over the next 50 years. All these activities enable employees to use their ideas in a creative way.
Conclusion
Management is about getting things done. Leadership is about achieving goals by creating a direction for a business and inspiring employees to take initiative and make the right decisions. Enterprise managers need the skills to motivate, lead and influence others. Enterprise aims to employ people who can take on a leadership role and help to grow the business for the longer term. Its management and training programmes help to provide employees with the skills necessary to lead others.
This case study illustrates that within a business, there are leaders at different levels within the hierarchy. Depending upon the circumstances, leaders will use different leadership styles. By developing leaders who are able to make decisions at a local level, Enterprise can respond more closely to customer needs within a competitive service industry. Its high levels of customer service provide it with competitive advantage over its rivals.
Source: Adapted from http:// www.enterprise.co.uk





















Harvard Style - References / bibliography
How -to guide

Note: It is a requirement that all students include a header/footer of the following information on every single page of the TMA: Name, ID, Course Code, TMA #, Tutor name, section, and semester.

• You have to use the Times New Roman Font Size 12 (except for the cover page).
• Line spacing should be 1.5
• All pages should be numbered
• Keep wide margins for your instructors' comments
• Align your text to the left. Don’t justify leaving spaces between words

Harvard Style Referencing:

• There are various ways of setting out references / bibliographies for an assignment.

• “Harvard Style” is a generic term for any referencing style which uses in-text references such as (Smith, 1999), and a reference list at the end of the document organized by author name and year of publication.

In this guide, we are using a “Harvard Style” which is based on the author-date system for books, articles and “non-books”.

NOTE: When you write your list of references/bibliography, please keep in mind the following points:

• Your bibliography should identify an item (e.g. book, journal article, cassette tape, film, or internet site) in sufficient detail so that others may identify it and consult it.
• Your bibliography should appear at the end of your TMA with entries listed alphabetically.
• If you have used sources from the Internet, these should be listed in your bibliography.

FOR A BOOK

The details required in order are:

1. name/s of author/s, editor/s, compiler/s or the institution responsible
2. year of publication
3. title of publication and subtitle if any (all titles must be underlined or italicized)
4. series title and individual volume if any
5. edition, if other than first
6. publisher
7. place of publication
8. page number(s) if applicable


• One author

Berkman, RI 1994, Find it fast: how to uncover expert information on any subject, Harper Perennial, New York.



• Two or more authors:

Cengel, YA & Boles, MA 1994, Thermodynamics: an engineering approach, 2nd edn, McGraw Hill, London.

Cheek, J, Doskatsch, I, Hill, P & Walsh, L 1995, Finding out: information literacy for the 21st century, MacMillan Education Australia, South Melbourne.

• Editor(s)
Pike, ER & Sarkar, S (eds) 1986, Frontiers in quantum optics, Adam Hilger, Bristol. Jackson, JA (ed.) 1997, Glossary of geology, 4th edn, American Geological Institute, Alexandria, Va.

• Sponsored by institution, corporation or other organization

Institution of Engineers, Australia 1994, Code of ethics, Institution of Engineers, Australia, Barton, A.C.T

• Series
Bhattacharjee, M 1998, Notes of infinite permutation groups, Lecture notes in mathematics no.1698, Springer, New York.

• Edition
Zumdahl, SS 1997, Chemistry, 4th edn, Houghton Mifflin, Boston.

• Chapter or part of a book to which a number of authors have contributed
Bernstein, D 1995, ‘Transportation planning’, in WF Chen (ed.), The civil engineering handbook, CRC Press, Boca Raton.

• No author or editor
Kempe's engineer's year-book 1992, Morgan-Grampian, London.
FOR AN ARTICLE

The details required, in order, are:
1. name/s of author/s of the article
2. year of publication
3. title of article, in single quotation marks
4. title of periodical (underlined or italicised)
5. volume number
6. issue (or part) number
7. page number(s)

• Journal article

Huffman, LM 1996, ‘Processing whey protein for use as a food ingredient’, Food Technology, vol. 50, no. 2, pp. 49-52



• Newspaper article
Simpson, L 1997, ‘Tasmania’s railway goes private‘, Australian Financial Review, 13 October, p. 10

FOR A NON- BOOK
NON-BOOK
The details required are the same as for a book, with the form of the item (eg video recording, tape, computer file, etc.) indicated after the year.

Get the facts (and get them organized) 1990, video recording, Appleseed Productions, Williamstown, Vic

FORM OF ITEM
Dr Brain thinking games 1998, CD-ROM, Knowledge Adventure Inc., Torrance, California

FOR WEB SITES AND OTHER ELECTRONIC SOURCES

_________________
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ARAB OPEN UNIVERSITY FACULTY OF BUSINESS STUDIES B322 – INVESTIGATING ENTREPRENEURIAL OPPORTUNITIES 2014/2015 SEMESTER II B322 - TMA - SPRING 2015 _____________________________________ Please read these instructions carefully, and contact your tutor if
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