1. A) If you want to start a real business in Bangladesh, what are the nine steps that you will have
to follow? (2 points) B) How will you incorporate design thinking principles if you are creating
an app for financial literacy for children in Bangladesh? (3 points)
2. If you are making a survey questionnaire for ULAB students to understand what problems they
are facing (and possibly make a business out of it), what sampling method you will choose and
why? (1 point) Make at least 20 questions with answer choices. (4 points)
3. From a Porter’s Five Forces perspective, explain in which cases supplier power is high? (don’t
write what five forces are, just the points for supplier’s power being high) Illustrate all the
points/examples from higher education industry in Bangladesh.   (bullet point format)
4. What is the purpose of an executive summary and exit plan in a business plan? (2 points) B)
Describe your SMART goal? Why is it a smart goal, explain. (3 points)
5. A) What is emotional intelligence? Are you emotionally intelligent? Give specific examples of
your emotional intelligence, if you are not, how do you plan to demonstrate in future? As an
entrepreneur why is it important to be emotionally intelligent? (3 points) B) From the Elon
Musk video, what have you learned about taking risk and failure? Talk about Elon Musk’s
biggest failures and come backs in light of the video.
 
Good luck!
Answer Question No: 1
A. If you want to start a real business in Bangladesh, what are the nine steps that you will have
to follow?
If I want to start a business, I have to follow nine specific procedures and legal steps to set up a business
in Bangladesh. They are,
i. Name Clearance Certificate for Company
ii. Pay Stamp Duty at a Designated Bank
iii. Register at Registrar of Joint Stock Companies and Firms (
iv. Make a Company Seal
v. Open a Bank Account
vi. Trade License
vii. Tax Identification Number Certificate for Company
viii. VAT Registration
ix. Registration with the Bangladesh Investment Development Authority

B. How will you incorporate design thinking principles if you are creating an app for financial
literacy for children in Bangladesh?
As we know financial literacy is very important us and as well as for the children. So, if I want to make a
financial literacy app for children in Bangladesh, First I have to Empathize the children and sit with the
children to understand their point of view. So, I can assume their mindset. Then ask them why or what
they want do in the future. Second empathize help to define the problem. Therefore, this stage-based on
what I have learned about children and the context and I will examine my perceptions and integrate them,
so I can characterize the main issues. Third, I will gather all information and do brainstorm and try my best
to make an app enjoyable for children. Forth, I will make a concept prototype app and also the working
prototype app where all dancing characters, funny music, digital mockups, skits and simulations, story
mode etc. Finally, I will test multiple prototypes, each with a change in a variable, so that children can
think about prototypes and tell me what they like or dislike. So, I can solve the problems.
Answer Question No: 2
The Problem I am facing in the University the most is the transportation in the bus From Campus A to the
Permanent Campus. As I have to include everyone for the sampling who use the bus service, for that I
will choose rating scale and dichotomous sampling to get the information about how others are feeling
about this problem. The Questionnaire patter I will be close ended so that the students don’t have to spend
too much time to help me with the survey.

No Question Excellent Very Goo Fair Poor Ye No

Good d s
1. . Is the bus service comfortable?
2. Is the amount of buses being
sufficient?
3. What about time management?
4. Is the bus seats are wide
enough?
5. What about the Ac service?
6. Is bus stopping service?
7. Bus drivers are friendly and
punctual
8. Pick up and drop off are
maintained well
9. Sitting arrangement is good
10. Waiting time for bus
11. Cleanliness of the bus
12. Are you satisfied with the
driver’s driving
13. Condition of the bus
14. Student capacity in the bus
15. Do you think driver takes
perfect route
16. Do you want a booking app for
the bus
17. Do you want more buses for
the all the students
18. Don’t you want separate girls’
bus
19.
20.
Answer Question No: 3
From a Porter’s Five Forces perspective, explain in which cases supplier power is high? (don’t
write what five forces are, just the points for supplier’s power being high) Illustrate all the
points/examples from higher education industry in Bangladesh. (bullet point format)
Supplier power is high if,
i. they are in concentrated numbers compared to buyers.
ii. there are high switching costs associated with a move to another supplier.
iii. they are able to integrate forward or begin producing the product themselves.
iv. they have specific expertise or technology needed to manufacture goods.
v. their product is highly differentiated.
vi. there are no substitutes available.
vii. there are strong end users who can exert power over the organization in favor of a
supplier.
Higher education industry in Bangladesh,
i. Two sectors of higher education exist in Bangladesh they are private and public thought there
are some technical institutions also available.
ii. Result structure followed by American grading policies.
iii. University Grants Commission (UGC) as the apex body of the government for higher
education is responsible for funding of public universities.
iv. Private universities do not get any government assistance in terms of funding and they need
to receive approval from the UGC to operate and award degrees.
Answer Question No: 4
A. What is the purpose of an executive summary and exit plan in a business plan?
The purpose of the executive summary is to explain the main features of our business in a way that will
make the reader want to learn more. It also includes all the information so that investors can see the
potential behind our business without having to read the entire plan.
In a business exit plan is an entrepreneur's strategic plan to sell his or her ownership to investors or
another company. Entrepreneurs always think an exit strategy before going into business because the
choice of exit plan has a significant influence on business development choices. Exit plan helps
entrepreneurs swiftly move into their next big project.
B. Describe your SMART goal? Why is it a smart goal, explain?
My smart goal is become a successful entrepreneur. I have a clothing brand named FRsquare, I want to
establish this brand into the world market. There are many reasons why it is a smart goal:
i. My goal is very clear and I have the confidence that I can achieve it.
ii. I always tracking my works to see how far I have to go and how much I achieve.
iii. Of course, setting this goal that is too ambitious but I will struggle to achieve it. This will sap at
my motivation, both now and in the future.
iv. To be honest clothing or gourmets is not my study sector but I learnt many things about this
sector and doing business and it is profitable so far.
v. I give myself ten years of timeframe to achieve this goal.