JSPM’s Institutes Pune

BHAGWANT INSTITUTE OF TECHNOLOGY BARSHI

Course Title: Entrepreneurship Development Course Code: 22032 Semester: Sixth

Name: Anurag Ajaykumar Tated Enrollment No.: 1815850066

INDEX

Sr. Page
Practical Outcome Remarks
No. No.
1 Submit a profile summary of a successful entrepreneur indicating
2
milestone achievements.
2 Generate business idea(product/service) for intrapreneurial and
entrepreneurial opportunitiesthrough brainstorming. 5

3 Undertake self-assessment test to discover your entrepreneurial

traits. 9

4 Survey industries of your stream, grade them according to the

level of scale of production, investment, turnover, pollution to 12
prepare report on it.
5 Visit a bank/financial institution to enquire about various funding
schemes for small scale enterprise. 16

6 Collect loan application forms of nationalise banks/other financial

institutions. 18

7 Collect the information from financial agencies that will help you
set up your business enterprise. 28

8 Compile the information from the government agencies that will

help you setup your business enterprise. 31

9 Prepare Technological Feasibility report of a chosen product or

service. 36

10 Prepare Financial Feasibility report of a chosen product or service.

38

11 Prepare a set of short, medium and long term goals for starting a
chosen small scale enterprise. 42

12 Prepare marketing strategy for your chosen product/service.

46

13 Prepare a business plan for your chosen small scale enterprise.

50

_________________
Signature of Faculty
 PRACTICAL NO. 1

Name of Student: Anurag Ajayumar Tated

Enrollment No. : 1815850066

 Practical Outcome:
Submit a profile summary of a successful entrepreneur indicating milestone achievements.

A success story of McDonald’s

 Origin
In 1917, 15-year-old Ray Kroc lied about his age to join the Red Cross as an ambulance
driver, but the war ended before he completed his training. He then worked as a piano player,
a paper cup salesman and a Multimixer salesman. In 1954, he visited a restaurant in San
Bernardino, California that had purchased several Multimixers. There he found a small but
successful restaurant run by brothers Dick and Mac McDonald, and was stunned by the
effectiveness of their operation. The McDonald’s brothers produced a limited menu,
concentrating on just a few items – burgers, fries and beverages – which allowed them to
focus on quality and quick service.

They were looking for a new franchising agent and Kroc saw an opportunity. In 1955, he
founded McDonald’s System, Inc., a predecessor of the McDonald’s Corporation, and six
years later bought the exclusive rights to the McDonald’s name and operating system. By
1958, McDonald’s had sold its 100 millionth hamburger.

 A Unique Philosophy
Ray Kroc wanted to build a restaurant system that would be famous for providing food of
consistently high quality and uniform methods of preparation. He wanted to serve burgers,
fries and beverages that tasted just the same in Alaska as they did in Alabama.

To achieve this, he chose a unique path: persuading both franchisees and suppliers to buy into
his vision, working not for McDonald’s but for themselves, together with McDonald’s. He
promoted the slogan, “In business for yourself, but not by yourself.” His philosophy was
based on the simple principle of a 3-legged stool: one leg was McDonald’s franchisees; the
second, McDonald’s suppliers; and the third, McDonald’s employees. The stool was only as
strong as the three legs that formed its foundation.
 System First
First and foremost, Kroc advocated adherence to the system approach. So while many of
McDonald’s most famous menu items – like the Filet-O-Fish, Big Mac, and Egg McMuffin
– were created by franchisees, the McDonald’s operating system required franchisees to
follow the core McDonald’s principles of quality, service, cleanliness and value.

 The Roots of Quality

McDonald’s passion for quality meant that ingredients were tested, tasted and perfected to fit
the operating system. Kroc shared his vision of McDonald’s future, selling his early suppliers
on future volumes. They believed in him and the restaurant boomed.
Again, Ray Kroc was looking for a partnership, and he managed to create the most integrated,
efficient and innovative supply system in the food service industry. These supplier
relationships have flourished over the decades. In fact, many McDonald’s suppliers operating
today first started business with a handshake from Ray Kroc.

 Hamburger University
In 1961, Kroc launched a training program, later called Hamburger University, at a new
McDonald’s restaurant in Elk Grove Village, Illinois. There, franchisees were trained on the
proper methods for running a successful McDonald’s restaurant. Hamburger U utilized a
research and development laboratory in nearby Addison, Illinois to develop new cooking,
 freezing, storing and serving methods. Today, more than 275,000 franchisees, managers, and
employees have graduated from the program.

 The Legend Lives On

Right up until he died on January 14, 1984, Ray Kroc never stopped working for McDonald’s.
His legacy continues to this day, providing McDonald’s customers with great tasting,
affordable food; crew and franchisees with opportunities for growth; and suppliers with a
shared commitment to provide the highest quality ingredients and products.
From his passion for innovation and efficiency, to his relentless pursuit of quality, to his many
charitable contributions, Ray Kroc’s legacy continues to be an inspirational and integral part
of McDonald’s – today and into the future.
 PRACTICAL NO. 2
Name of Student: Anurag Ajaykumar Tated
Enrollment No. : 1815850066

 Practical Outcome
Generate business idea(product/service) for intrapreneurial and entrepreneurial opportunities
through brainstorming.

Brainstorming

 What is Brainstorming?

Madison Avenue advertising executive Alex Osborn developed the original approach and
published it in his 1953 book, "Applied Imagination." Since then, researchers have made many
improvements to his original technique.
The approach described here takes this research into account, so it's subtly different from
Osborn's approach.
Brainstorming combines a relaxed, informal approach to problem solving with lateral thinking.
It encourages people to come up with thoughts and ideas that can, at first, seem a bit crazy.
Some of these ideas can be crafted into original, creative solutions to a problem, while others
can spark even more ideas. This helps to get people unstuck by "jolting" them out of their
normal ways of thinking.
Therefore, during brainstorming sessions, people should avoid criticizing or rewarding ideas.
You're trying to open up possibilities and break down incorrect assumptions about theproblem's
limits. Judgment and analysis at this stage stunts idea generation and limit creativity.
Evaluate ideas at the end of the session – this is the time to explore solutions further, using
conventional approaches.
 Why Use Brainstorming?

Conventional group problem solving can often be undermined by unhelpful group behaviour.
And while it's important to start with a structured, analytical process when solving problems,
this can lead a group to develop limited and unimaginative ideas.
By contrast, brainstorming provides a free and open environment that encourages everyone to
participate. Quirky ideas are welcomed and built upon, and all participants are encouraged to
contribute fully, helping them develop a rich array of creative solutions.
 Group Brainstorming
Here, you can take advantage of the full experience and creativity of all team members. When
one member gets stuck with an idea, another member's creativity and experience can take the
idea to the next stage. You can develop ideas in greater depth with group brainstorming than
you can with individual brainstorming.
Another advantage of group brainstorming is that it helps everyone feel that they've contributed
to the solution, and it reminds people that others have creative ideas to offer. It's also fun, so it
can be great for team building!
Group brainstorming can be risky for individuals. Unusual suggestions may appear to lack
value at first sight – this is where you need to chair sessions tightly, so that the group doesn't
crush these ideas and stifle creativity.

 How to Use the Tool

You often get the best results by combining individual and group brainstorming, and by
managing the process according to the "rules" below. By doing this, you can get people to focus
on the issue without interruption, you maximize the number of ideas that you can generate, and
you get that great feeling of team bonding that comes with a well-run brainstorming session!
To run a group brainstorming session effectively, follow these steps.
Step 1: Prepare the Group
First, set up a comfortable meeting environment for the session. Make sure that the room is
well-lit and that you have the tools, resources, and refreshments that you need.
How much information or preparation does your team need in order to brainstorm solutions to
your problem? Remember that prep is important, but too much can limit – or even destroy –
the freewheeling nature of a brainstorming session.
Consider who will attend the meeting. A room full of like-minded people won't generate as
many creative ideas as a diverse group, so try to include people from a wide range of
disciplines, and include people who have a variety of different thinking styles.
When everyone is gathered, appoint one person to record the ideas that come from the session.
This person shouldn't necessarily be the team manager – it's hard to record and contribute at
the same time. Post notes where everyone can see them, such as on flip charts or whiteboards;
or use a computer with a data projector.
If people aren't used to working together, consider using an appropriate warm-up exercise, or
an icebreaker.
Step 2: Present the Problem

Clearly define the problem that you want to solve, and lay out any criteria that you must meet.
Make it clear that that the meeting's objective is to generate as many ideas as possible.
Give people plenty of quiet time at the start of the session to write down as many of their own
ideas as they can. Then, ask them to share their ideas, while giving everyone a fair opportunity
to contribute.

Step 3: Guide the Discussion

Once everyone has shared their ideas, start a group discussion to develop other people's ideas,
and use them to create new ideas. Building on others' ideas is one of the most valuable aspects
of group brainstorming.
Encourage everyone to contribute and to develop ideas, including the quietest people, and
discourage anyone from criticizing ideas.
  Steps to Starting a Home-Based Photography Business
If you're ready to start getting paid to take pictures, here are the steps to get started.

1. Decide what types of photography services you’ll offer.

Businesses and individuals need photographers for many reasons. Businesses need pictures
oftheir products for brochures. Realtors need images of the homes they’re selling. Magazines
need photos related to the articles they’re publishing. Or you can stick with non-business
photography and take portraits or photograph weddings.
2. Develop your business plan. The business plan outlines the details of your business,
including the services you offer, how you’ll differ from the competition, financial
projections, and marketing strategies. This is a good time to determine your pricing structure.
For example, if you want to make $50,000 per year and believe you can book 26 weddings
a year, you’d need to charge nearly $2,000 per wedding. Your pricing needs to take into
accountthe cost of equipment, supplies, and travel, as well as your time.
3. Decide your business structure. The easiest and lowest cost option is sole proprietor;
however, creating a limited liability company (LLC) will offer greater protection of your
personal assets should you run into legal problems.
4. Create a business name. What you name your business will become the brand image, so
choose a name that fits the type of photography you want to do. If you want to take kid portraits
you can have a whimsical name, but if you want to do business photography or weddings,
you’ll want something that sounds professional or elegant. If you don’t use your given name
in your business name, you’ll likely need to file a name statement with your county clerk’s
office. You also need to check with the U. S. Patent and Trademark office to ensure the name
isn’t protected by trademark.
5. Officially establish your business. Once you have a business name and set up your business
structure, you need obtain business license or permits as required by your city or county.
Although you may take photos using a digital camera, since you’ll be giving people prints,
youmay need to collect sales tax if you live in a state that charges sales tax. Your state’s
comptroller or tax office will have the necessary forms and information on how to collect
and pay sales tax. Once you have your business license, you can open a business bank
account.
6. Gather needed equipment and supplies. If photography is your hobby, you may already
have much of the equipment you need; however, you’ll have to assess if the quality is high
enough to charge for services. Along with a camera, you’ll also need lenses, flashes,
batteries,photo editing software, quality photo paper and packaging used to deliver the photos
to clients.You may also need lights and screens to control lighting.
7. Create marketing materials. Along with business cards and brochures, build a website. Get
permission from your subjects before posting their photos online. Also, set up social media
accounts on networks your target market can be found. For example, if you’re doing wedding
photos, you should have a Parget market.
8. Market, market, market. The key to success in a photography business is marketing. You
can’t take and get paid for photos if no one hires you. Along with business cards, brochures
and a website, use your personal and professional networks to spread the word about
your business. Attend trade shows and events geared toward your market. For example, if
you wantto do wedding photography, attend wedding shows. If you want to take pet portraits,
attend dogshows.
Bonus Income Option: Sell Your Photos Online
Along with getting paid to take professional photos, you can also sell the photos you take
yourself (not those you're paid to take). Many stock photo sites will buy or allow you to sell
your photos.
 PRACTICAL NO. 3
Name of Student: Anurag Ajaykumar Tated
Enrollment No. : 1815850066

 Practical Outcome:
Undertake self-assessment test to discover your entrepreneurial traits.

Success in entrepreneurship isn’t just about your idea or your money. Plenty of people
haveinteresting ideas or a lot of cash to throw around — and they never quite manage to
find success in their ventures.
If you want to be an entrepreneur, take a step back and evaluate whether or not you have
thefollowing characteristics. (And remember: if you don’t have these traits now, you can
develop them down the road to improve your chances of success.)
1. Self-Motivation
One of the most important traits of entrepreneurs is self-motivation. When you want to
succeed, you need to be able to push yourself. You aren’t answerable to anyone else as
anentrepreneur, and that sometimes means that it’s hard to get moving without anyone
to make you. You need to be dedicated to your plan and keep moving forward — even if
youaren’t receiving an immediate pay check.
2. Understand What You Offer
As an entrepreneur, you need to know what you offer, and how it fits into the market.
Whether it’s a product or a service, you need to know where you fit in. That means you need
to know when it’s time to tweak things a little bit. This also includes knowing whether you
are high end, middle of the road or bargain. Being able to position yourself and then adjust
asneeded is an important part of entrepreneurship.

3. Take Risks
Successful entrepreneurs know that sometimes it’s important to take risks. Playing it safe
almost never leads to success as a business owner. It’s not about taking just any risk, though.
Understanding calculated risks that are more likely to pay off is an important part of being an
entrepreneur. You’ll need to be willing to take a few risks to succeed.
4. Know How to Network
Knowing how to network is an important part of entrepreneurship. Sometimes who you
know is an important part of success. Being able to connect with others and recognize
partnership opportunities can take you a long way as a business owner. Figure out where to
go
for networking opportunities and make it a point to learn how to be effective.
5. Basic Money Management Skills and Knowledge
We often think of successful entrepreneurs as “big picture” people who don’t worry so much
 about managing the day to day. And it’s true that you might have an accountant or other team
members to help you manage the business. However, if you want to be successful, you should
still have basic money management skills and knowledge. Understand how money works so
that you know where you stand, and so that you run your business on sound principles.
6. Flexibility
To a certain degree, you need to be flexible as an entrepreneur. Be willing to change as
needed. Stay on top of your industry and be ready to adopt changes in processes and product
as they are needed. Sometimes, you also need flexibility in your thinking. This is an essential
part of problem-solving. You want to be able find unique and effective solutions to issues.

7. Passion
Finally, successful entrepreneurs are passionate. They feel deeply about their product or
service or mission. Passion is what will help you find motivation when you are discouraged
and it will drive your forward. Passion is fuel for successful entrepreneurship. If you find
yourself losing your passion, that might be the clue that it’s time to move on to something
else (that stokes your passion). There are many serial entrepreneurs that create successful
businesses, sell them, and then create something else.
As you consider your characteristics, think about how to better develop them to help
youbecome a better entrepreneur.

The Rules
The Rules For each question, simply answer “yes” or “no”.
If you can’t answer a question yourself, ask your partner, your friend, your mom, your dog etc.
There’s no trick question here. If you answer “yes” to a question, you have a hint of an
entrepreneur in you. The more “yes” you give, the more likely that you are an entrepreneur.
If you answer “yes” to all the question, well, you’re a liar. Some are contradictory, yet they
areall are traits of an entrepreneur. How many entrepreneurs do you know who both prefer
working late, yet wake up super early? That doesn’t add up.
Also note that this is by no means a scientific experiment. I have not done any research on
thetopic. Rather, these questions come from my own experience as a serial entrepreneur, and
by closely following other entrepreneurs.
I numbered the question so they are easier to reference in the comments, as well as a means
toprovide a point of reference on how far along you are with them. There are 25 questions
in total.
Without further ado, it’s time to figure out if you’re an entrepreneur, once and for all!

1) Do you think you are an entrepreneur?

2) Do you like to create things?
3) Do you like helping people solve their problems?
4) Do you like solving your own problems “creatively”?
5) Do you push through even when people tell you your idea is bad?
6) Do you create things from “raw material”? — let’s define “raw material” as
something you can readily acquire/purchase.
7) Do you work very late, when everyone else is asleep?
8) Do you wake up very early, when everyone else is asleep?
9) Do you Google yourself out of situations?
10) Do you prefer working for yourself, instead of for other people?
11) Do people doubt you when you talk about your own projects?
12) Do new ideas about ways to improve things keep you up at night?
13) Did you invest in crypto-currency?
14) Did you invest in crypto-currency 5–9 years ago?
15) Are your bank investments somewhat risky?
16) Are you a self-starter? Have you initiated projects yourself?
17) Have you started a business before?
18) Have you started more than one business?
19) Have you rejected an offer to sell a business?
20) Have you organized groups of people working together towards the same goal?
21) Have you taken a loan to execute your own project(s)?
22) Have you ever pitched to an investor?
23) Have you ever raised money?
24) Is working on own your project(s) your idea of fun?
25) Is working on your project(s) sometimes more enticing than hanging out with yourfriends?

The truth is, if you answered “yes” to the first question, you’re probably right, and the rest of
the questions just confirmed it for you.
On the flip-side, if you answered “no” to the first question, the rest of the questions may have
changed your mind.
There’s no real answer as to the number of “yes” you should have answered to know you’re an
entrepreneur.
Just one “yes” is enough to say you’ve got a hint of an entrepreneur in you.
5–10 “yes” is a good indication that you are an entrepreneur, but may not have fully realized
ityourself.
Above 10 “yes”, you probably already knew you were an entrepreneur. But it’s nice to validate
it, no?
So, to all you entrepreneurs out there, whatever you are working on, I have four words for you:
You can do this!
 PRACTICAL NO. 4
Name of Student: Anurag Ajaykumar Tated
Enrollment No.: 1815850066

 Practical Outcome: Survey industries of your stream, grade them according to the level
of scale of production, investment, turnover, pollution to prepare report on it.

ACC Cement Ltd

 Introduction:

CC Limited (ACC) is a leading player in the Indian building materials space, with a pan-India
manufacturing and marketing presence. With 17 cement manufacturing units, over 90 ready
mix concrete plants, over 6,600 talented employees, a vast distribution network of 50,000+
dealers & retailers and a countrywide spread of sales offices, it contributes tremendously to the
landscape of the country.
For over 80 years, ACC has been synonymous with cement, establishing its reputation as a
pioneer organisation that consistently sets new benchmarks in research and innovative product
development.
History was created more than eight decades ago when the doyens of the Indian cement
industry unified their operations to build the foundation of a company that has only grown
stronger with every passing year. From the Bhakra Nangal Dam in 1960 to the Mumbai-Pune
Expressway, ACC cement is at the heart of iconic landmarks across the country.
Our success over the years can be attributed to our unrelenting focus on customer centricity,
ethical business practices and sustainable development. We pay tribute to our motto of
‘Cementing Relationships’ with every single interaction with our range of stakeholders.
ACC’s brand architecture comprises the Gold range and Silver range of products assuring
superior quality for general construction as well as for specialised applications and
environments. The ready mix concrete product range provides one-stop solutions from basic
requirements to high grades of concrete to build the country’s tallest structures.
Sustainability is an integral part of our business strategy, with our Sustainable Development
2030 Plan focused on four broad themes: Climate, Circular Economy, Water & Nature and
People & Communities. Our corporate social responsibility efforts benefit local communities
across the country by furthering economic and social progress. ACC’s earliest initiatives in
community development date back to the 1940's – long before the term 'corporate social
responsibility' was coined.
ACC was among the first Indian companies to include commitment to environmental
protection as one of its corporate objectives. Since inception, we have integrated this
commitment into all activities of our value chain, from mining to sales to promoting the use of
alternative fuels and resources, resulting in one of the lowest carbon footprints in the cement
industry.
In 2005, ACC became part of the Holcim Group of Switzerland. Subsequently, in 2015, Holcim
and Lafarge came together in a merger to form LafargeHolcim – the global leader in building
materials and solutions. Being a part of this large group has fuelled ACC’s growth and the
resultant technology sharing continues to help us stay ahead of the curve in the dynamic Indian
market.
ACC has rich experience in mining, being the largest user of limestone. As one of the
largest cement producers in India, it is also among the biggest customers of the domestic
coal industry, of Indian Railways, and a considerable user of the country’s road transport
network services for inward and outward movement of materials and products.

 Management:
Name Designation
Ashish Prasad Chief Marketing Officer
Bhogendra Mishra Head - Human Resource
D Sundaram Ind. Non-Executive Director
Deepak Mehra Chief Commercial Officer
Falguni Nayar Ind. Non-Executive Director
Jan Jenisch Non Exe.Non Ind.Director
Kiran Patil Chief Manufacturing Officer
M R Kumar Non Exe.Non Ind.Director
Manoj Chhura Chief Procurement Officer
Martin Kriegner Non Exe.Non Ind.Director
N S Sekhsaria Chairman
Neeraj Akhoury Non Exe.Non Ind.Director
Pralhad Mujumdar CEO - ACC Concrete & BtoB Business
Rajiv Choubey Chief Legal Officer & Co. Secretary
S K Roongta Ind. Non-Executive Director
Shailesh Haribhakti Ind. Non-Executive Director
Sridhar Balakrishnan Managing Director & CEO
Sunil Mehta Ind. Non-Executive Director
Suresh Rathi Chief Supply Chain Officer
Vinayak Chatterjee Ind. Non-Executive Director
Yatin Malhotra Chief Financial Officer
 To be one of the most respected companies in India; recognised for challenging
Vision conventions and delivering on our promises.
To be a driving force in creating a confident future for our people, our customers,
Purpose our shareholders and our nation.

PRODUCTION
Production Capacity 33.05 MTPA Installed cement capacity
Total Cement Plants 17
Captive Power Plants 9
Ready Mix Concrete Plants 80
Employees ~ 6,400
Channel Partners 56,000
TURNOVER (DEC 2020)
Net Sales Turnover 13487.54 Crores
Other Income 209.98 Crores
Total Income 13988.52 Crores

POLLUTION

 Environment and Governance

1) 3.7% Reduction in net specific Co2 emissions of cementitious materials
2) 9.3 MT Usage of waste derived resources
3) 22% Decrease in specific NOx emissions
4) 27% Reduction in specific dust emissions

 Sustainable Construction
ACC is concerned with the environmental impacts of its products. The most significant
ways this concern is exhibited is through its utilization of waste by-products such as fly ash
and slag to manufacture blended cements which help conserve limestone resources ACC
promotes sustainable construction in other ways such as by implementing environment-
friendly projects of its own and by advocating the use of concrete to build India’s roads.
 ACC is inspired by the LafargeHolcim Foundation for Sustainable Construction to promote
and encourage sustainable construction projects in the country.

 Alternative Fuels & Raw Materials

a) Redefining Waste
ACC has a robust approach to promote the use of Alternative Fuels and Raw Materials
(AFRM) through the co-processing of hazardous and non-hazardous wastes in cement
kilns. This gives us opportunities to offer unique and sustainable waste management
solutions to waste generators - industries, municipalities and other bodies for an
effective means of disposal of industrial wastes, municipal solid wastes and biomass.
This task is undertaken under the umbrella of Geocycle.

b) Geocycle India
We have always been on the forefront of understanding and managing environmental
challenges sustainably. We understand that sustainable waste management is the need
of the hour and we have taken the lead in providing safe waste management solutions
to industries and municipalities.
 PRACTICAL NO. 5

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome:
Visit a bank/financial institution to enquire about various funding schemes for small scale
enterprise.
 Government Loan Schemes for Small Scale Business

Name of the Rate of Interest

Loan Amount Repayment Tenure
Scheme (p.a.)

SIDBI Make
in IndiaLoan Up to 10 years including 3
for Rs.25 lakh to Rs.50 years moratorium.
9.45% to 12.70% lakh
Enterprises
(SMILE)

Pradhan Mantri Varies from bank to bank

Varies from
MudraYojana Up to Rs.10 lakh
bank tobank
(PMMY)

Credit -
Guarantee - Up to Rs.200 lakh
Scheme

Bank Credit 5 years to 7 years

Varies from
Facilitation Up to Rs.5 crore
bank tobank
Scheme

Up to base rate + 7 years

Stand-Up India Rs.10 lakh to Rs.1
3% +tenor
Scheme crore
premium

MSME As per the bank

Rs.10 lakh to Rs.1
Loans in 59 8% onwards crore
minutes
 Documents Required:

Application Filled and duly signed

form

KYC Business entity proof, partnership deed, incorporation certificate,

Documents shops, and establishment certificate,

PAN Card  Of partners/directors/proprietors/promoters

 Of the business entity

Financials  Projected turnover and current year performance

 Tax audit reports, balance sheet, profit and loss report, VAT
returns, audited and provisional financials, etc.

Address  Of the business entity

Proof  Of directors/promoters/partners/proprietors

Bank For the last 6 months

Statements
Photographs Passport-size photograph of applicant/co-applicants
 PRACTICAL NO. 6

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcomes:
Collect loan application forms of nationalise banks/other financial institutions.

HDFC BANK

HDFC Bank Limited is an Indian banking and financial services company, headquartered in
Mumbai, Maharashtra. HDFC Bank is India’s largest private sector bank by assets and by
market capitalisation as of April 2021. It is the third largest company by market capitalisation
on the Indian stock exchanges. It is also the thirteenth largest employer in India with nearly
120,000 employees.

HDFC Bank provides a number of products and services including wholesale banking, retail
banking, treasury, auto loans, two-wheeler loans, personal loans, loans against property,
consumer durable loan, lifestyle loan and credit cards. Along with this various digital products
are Payzapp and SmartBUY.
 PRACTICAL NO. 7

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome:
Collect the information from financial agencies that will help you set up your business
enterprise.

 Source of Finance
Sources of finance for business are equity, debt, debentures, retained earnings, term loans,
working capital loans, letter of credit, euro issue, venture funding etc. These sources of
funds are used in different situations. They are classified based on time period, ownership
and control, and their source of generation. It is ideal to evaluate each source of capital
before opting for it. Sources of capital are the most explorable area especially for the
entrepreneurs who are about to start a new business. It is perhaps the toughest part of all
the efforts. There are various capital sources, we can classify on the basis of different
parameter Having known that there are many alternatives to finance or capital, a company
can choose from. Choosing the right source and the right mix of finance is a key challenge
for every finance manager. The process of selecting the right source of finance involves in-
depth analysis of each and every source of fund. For analyzing and comparing the sources,
it needs the understanding of all the characteristics of the financing sources. There are many
characteristics on the basis of which sources of finance are classified.
On the basis of a time period, sources are classified as long-term, medium term, and short
term. Ownership and control classify sources of finance into owned and borrowed capital.
Internal sources and external sources are the two sources of generation of capital. All the
sources have different characteristics to suit different types of requirements. Let’s
understand them in a little depth.
 Medium term sources of finance
Medium term financing means financing for a period of 3 to 5 years and is used generally
for two reasons. One, when long-term capital is not available for the time being and second
when deferred revenue expenditures like advertisements are made which are to be written
off over a period of 3 to 5 years. Medium term financing sources can in the form of one of
them:
A) Preference Capital or Preference Shares
B) Debenture / Bonds
C) Medium Term Loans from
D) Financial Institutes
E) Government, and
F) Commercial Banks
 G) Lease Finance
H) Hire Purchase Finance

 Short Term Sources of Finance

Short term financing means financing for a period of less than 1 year. The need for short-
term finance arises to finance the current assets of a business like an inventory of raw
material and finished goods, debtors, minimum cash and bank balance etc. Short-term
financing is also named as working capital financing. Short term finances are available in
the form of:
A) Trade Credit
B) Short Term Loans like Working Capital Loans from Commercial Banks
C) Fixed Deposits for a period of 1 year or less
D) Advances received from customers
E) Creditors
F) Payables
G) Factoring Services
H) Bill Discounting etc.

 External Sources
An external source of finance is the capital generated from outside the business. Apart from
the internal sources of funds, all the sources are external sources. Deciding the right source
of funds is a crucial business decision taken by top-level finance managers. The usage of
the wrong source increases the cost of funds which in turn would have a direct impact on
the feasibility of the project under concern. Improper match of the type of capital with
business requirements may go against the smooth functioning of the business. For instance,
if fixed assets, which derive benefits after 2 years, are financed through short-term finances
will create cash flow mismatch after one year and the manager will again have to look for
finances and pay the fee for raising capital again.
 PRACTICAL NO. 8

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome:
Compile the information from the government agencies that will help you setup your
business enterprise.
 Here is the list of government schemes launched to develop and encourage
entrepreneurship in India.
1. Start-up India Seed Fund
On 16 January 2021, Prime Minister Narendra Modi announced the launch of the 'Startup
India Seed Fund' — worth INR 1,000 crores — to help startups and support ideas from
aspiring entrepreneurs. PM Modi said that the government is taking important measures to
ensure that startups in India do not face any capital shortage.

2. Startup India Inititaive

The Prime Minister of India launched the Startup India Initiative in the year 2016. The idea
is to increase wealth and employability by giving wings to entrepreneurial spirits. The
government gives tax benefits to startups under this scheme and 798 applicants have made
use of this scheme to date. The Department of Industrial Policy and Promotion is
maintaining this initiative and is treating it as a long term project. Moreover, the overall
age limit for startups has been increased from two years to seven years. And for
biotechnology firms, the age limit is ten years from the date of incorporation. It is one of
the best government-sponsored startup schemes for entrepreneurs as it is provides several
concessions.
3. Aspire
The government has made continuous efforts to improve the social and economic aspects
of life in rural areas of India. Since 56% of the Indian population lives in the rural areas,
the government is promoting entrepreneurship and innovation in the rural sector. The
ASPIRE scheme aims at increasing employment, reducing poverty, and encouraging
innovation in rural India. However, the main idea is to promote the agro-business industry.
The Ministry of Medium and Small Enterprises has tried to boost economic development
at the grassroots level. The total budget of the scheme was INR 62.5 crores for the period
of 2014-2016.

4. MUDRA Bank
Micro Units Development Refinance Agency (MUDRA) banks has been created to enhance
credit facility and boost the growth of small business in rural areas. The government has
introduced this scheme to support small businesses in India. In 2015, the government
allocated INR 10,000 crores to promote startup culture in the country. The MUDRA banks
provides startup loans of up to INR 10 lakhs to small enterprises, business which are non-
corporate, and non-farm small/micro enterprises. MUDRA comes under Pradhan Mantri
Mudra Yojana (PMMY) which was launched on 8 April 2015. The loans have been
 categorized as Tarun, Kishore, and Shishu. The assets are created through the bank’s
finance and there is no collateral security.

5. Ministry of Skill Development and Entrepreneurship

The task of promoting entrepreneurship was earlier given to different departments and
government agencies. In 2014, the Prime Minister decided to dedicate an entire ministry to
build this sector as he felt that skill development required greater push from the
government's side. Furthermore, the idea is to reach 500 million people by the year 2022
through gap-funding and skill development initiatives.
6. ATAL Innovation Mission
In the budget session of 2015, the Indian government announced the Atal Innovation
Mission (AIM); with the name coming from Atal Bihari Vajpayee, the Former Prime
Minister of India. Atal Innovation Mission was established to create a promotional platform
involving academicians and draw upon national and international experiences to foster a
culture of innovation, research, and development. The government allocated AIM about
INR 150 crores in the year 2015.

7. eBiz Portal

This is the first electronic government-to-business(G2B) portal. The main purpose of the
portal is to transform and develop a conducive business environment in the country. eBiz
Portal was developed by Infosys in a public-private partnership model. It is a
communication center for investors and business communities in India. The portal has
launched 29 services in 5 states of India, viz., Andhra Pradesh, Delhi, Haryana,
Maharashtra, and Tamil Nadu. The government will add more services to the scheme with
time.
8. Credit Guarantee Fund Trust for Micro and Small Entreprises (CGTMSE)
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE ) was
set up by the government of India to provide business loans to micro-level businesses,
small-scale industries, and startups with zero collateral. It allows businesses to avail loans
at highly subsidized interest rates without requiring security. By working along with SIDBI
(Small Industries Development Bank of India), the government provides a maximum
amount of up to INR 100 lakhs under this scheme for boosting new enterprises as well as
rehabilitating the existing ones. Primarily meant for manufacturing units, this loan can be
availed in the form of working capital or term loan.
 PRACTICAL NO. 9

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome: Prepare Technological Feasibility Feasibility report of a chosen

product or service.

1. Dr. Fixit Pidicrete URP

Dr. Fixit Pidicrete URP is based on modified styrene butadiene latex

supplied as a ready to use bonding agent in liquid consistency. It is
used for repair of spalled concrete – floors, columns, beams, chhajas,
slabs. Waterproofing of toilets & bathrooms, small terraces etc. It
bonds strongly to old & new concrete and to plasters. It reduces
shrinkage, prevents cracking, dust pick up & improves abrasion
resistance.

Make Dr. Fixit - Pidilte

Packaging 500 gm, 1 kg, 5 kg, 10 kg, 20 kg & 50 kg
Supplier Tated Agencies, Barshi (9422066343)
Costing 500 gm – Rs 180/-
1 kg – Rs 350/-
5 kg – Rs 1635/-
10 kg – Rs 3035/-

Specifications
Base SBR Latex
pH 7 to 9
Specific gravity 300C 1.01 +/- 0.02
Compressive Strength – 7 days BS6319 part2:1983
Slant shear bond 30 N/mm2
Total active solid content 34 +/- 2%
Dosage 10 litres per 50 kg OPC cement
Functions
a. It prevents cracking by improving flexural strength.
b. Reduces viscosity of cement injection grout for better fluidity & bonding.

2. ACC F2R Superfast

Scientifically developed with a unique blend of ingredients, ACC F2R

SUPERFAST is a revolutionary new cement with superior strength,
superfine quality and super-fast setting formula that enables robust
construction in quick time.

Make ACC Cement Ltd

Packaging 50 kg bag
Supplier Tated Agencies, Barshi (9422066343)
Costing 50 kg – Rs 380/-
Specifications
Appearance / colour Grey powder
Compressive strength (7 days) 36 Mpa
Compressive strength (28 days) 53+ Mpa
Fineness 380 m2/kg
Final setting time 205 minutes
Features
a. Faster setting time
b. Dense & impervious concrete ensures less cracks and higher strength.
c. Improved resistance from sulphate & chloride attack.
 PRACTICAL NO. 10

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome: Prepare Financial Feasibility report of a chosen product or service.

 Financial Plan
 Phoebe's Photo Studio will become profitable in its fifth month of operation, by May 2006.
It will grow vigorously each year after that to its optimum level during 2008.
 This optimum level will produce sales sufficient for a generous net profit, even with the
owner's and employee's salaries.
 The business will be funded with an investment by the owner and loan secured by real
estate.

 Start-up Funding
 The start-up requirements for Phoebe's Photo Studio including start-up expenses, current
assets, cash on hand, and long-term assets were presented earlier in this plan.
 Start-up funding is presented in the table below.
 The owner, Phoebe Peters will provide a seed investment.
 A loan for the balance will be secured by real estate.

 Important Assumptions
 We assume a stable economy with reasonable growth and a steady rise in interest rates.
 We also assume that our competitors won't adopt our strategy within the first two years.
 After that, our approach is likely to make a change in what our competitors charge for
digital files, because they'll see it's effective in bringing in repeat business as well as new
business.

 Break-even Analysis
 The average monthly expenses are shown in the table below.
 With low average direct unit costs, we will need to make the monthly sales displayed to
break even.
 We expect to pass the breakeven point in May.

 Key Financial Indicators

 The benchmarks chart, below, shows a quick comparison of Sales, Gross Margin %, and
Operating Expenses over the next three years. Although Operating Expenses will rise
slightly in future years, they are not rising proportionally with sales growth.
 The higher operating cost ratio in the first reflects the higher costs of advertising to establish
visibility at the start of the business.

 Projected Profit and Loss

 This business is projected to become profitable in May 2006, after the start-up advertising
is completed and customers begin to discover the service. For the year 2006, the business
will be profitable.
 It will grow at a vigorous rate over the next two years. Our utility costs include monthly
charges for high-speed Internet access via a corporate account, which will essential to
delivering our finished images to most of our customers.
 The optimum level of profitability for this one-photographer shop is reached in 2008. Our
profit margins are much higher than the industry average because of our innovative
product-delivery options - digital images require no film, no paper, and no chemicals, just
storage units (CDs and DVDs) and delivery (computer and Internet access).
 A financial feasibility study projects how much start-up capital is needed, sources of
capital, returns on investment, and other financial considerations.
 The study considers how much cash is needed, where it will come from, and how it will be
spent. It can focus on one particular project or area, or on a group of projects (such as
advertising campaigns).
 The study is an assessment of the financial aspects of something. It could be anything, but
is most often used to consider a few key points that, if refined correctly, should answer
most of the basic questions of anyone who takes a seat at the table.

 Start-Up Capital Requirements

 Start-up capital is how much cash you need to start your business and keep it running until
it is self-sustaining.
 You should include enough capital funds (cash, or access to cash) to run the business for
one to two years.
 Although many business or sole proprietorships determine their capital requirements
individually, larger corporations may use the help of their respective bank or capital firm
to pinpoint capital requirements for either a round of funding or business launch.

 Finding Start-Up Capital Funding Sources

 There are many ways to raise capital for your business, but no matter what route you take,
investors are more likely to invest, banks are more likely to approve loans, and large
corporations are more likely to give you contracts if you have personally invested in the
business yourself.
 Depending on the size of your business, you may be able to utilize one of the many Small
Business Administration's (SBA) Microloan programs. Using these, you will not need
much capital, as the program allows for a much smaller down-payment on their lending
partner's loans.
 These can vary, but are around three-to-twelve percent. When you make a list of funding
resources, be sure to include anything that you can contribute to the business, including
free labor. If you are starting a nonprofit organization, your donated professional time may
even be tax deductible for you Investors can be a friends, family members, professional
associates, client, partners, share holders, or investment institutions.
 Any business or individual willing to give you cash can be a potential investor. Investors
give you money with the understanding that they will receive "returns" on their investment,
that is, in addition to the amount that is invested they will get a percentage of profits. In
order to entice investors you need to show how your business will make profits, when it
will begin to make profits, how much profit it will make, and what investors will gain from
their investment.
 The investment return section should offer both a description of how investors will be
involved and discuss different variables that will affect the profitability of your business,
offering more than one scenario.

 Paying Back Investors

 How investors will be paid will vary according to individual investment offers.
 Read every offer over very carefully —not all investors will be right for your business.
 The investment section of your financial feasibility study should not make specific or
binding offers to investors.
 Do not state investors will be paid specific dollar amounts by certain dates. Instead, list
general practices for how investments return will be distributed, assuming different
business scenarios.
 For example, you might state that investors will be paid X amount of dollars or X% on their
investment at the end of any business quarter where profits exceed a certain threshold.
 Project total revenue, deduct business expenses, and then from the remaining amount,
decide what percentage will be distributed to investors.
 You should never promise 100% of the remaining amount to investors.
 You need to keep cash on hand to continue operating your business, to grow your business,
and to build reserves.
 Most investment returns are typically distributed on a quarterly, bi-annual, or annual basis.
 Consider how the various distribution cycles could affect your business' cash flow during
the first two years of operation.
 In other words, do not just run one set of numbers, examine each type of distribution and
support why you think the option you choose is the best one.
 PRACTICAL NO. 11

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome: Prepare a set of short term, medium term and long term goals for
starting a chosen small scale enterprise.

 Introduction
 Business owners develop plans to reach their overall goals, and they usually find it useful
to separate planning into phases. This allows you to track immediate improvements while
evaluating progress toward eventual goals and targets. The different time frames of the
planning process place the focus on time-sensitive aspects of the company's structure and
environment. You can differentiate planning based on the time frames of the inputs and
expected outcomes.
 Strategic Planning Characteristics
Many businesses develop strategic planning within a short-term, medium-term and long-
term framework. Short-term usually involves processes that show results within a year.
Companies aim medium-term plans at results that take several years to achieve. Long-
term plans include the overall goals of the company set four or five years in the future
and usually are based on reaching the medium-term targets. Planning in this way helps
you complete short-term tasks while keeping longer-term goals in mind.

 SHORT TERM GOALS

Breaking your goals down into time related chunks makes them more achievable…remember
the ‘T’ in the acronym SMART relates to time.

Short term goals are generally defined as those which can be achieved within two or three
months but this very much depends on what it is you’re planning: sales targets (how much
growth?), new recruits (how many people?), learning a new skill (is two months realistic to
learn coding, part-time, from scratch?). So make sure your goals are also realistic.

“Dream big dreams, but never forget that realistic short-term goals are the keys to your
success” – Mac Anderson
If we look at the example of increasing turnover used earlier; increasing turnover by £1k per
week for a quarter could be classed as a short-term goal.

Breaking it down under SMART shows the target is:

Specific – 10 k per week

Measurable – income is trackable

Achievable – you have researched/verified this is possible

Relevant – increasing turnover is VERY relevant to business success

Timely – you have set a deadline

Setting the goals isn’t the end of the story though!

If they aren’t *achievable, if you haven’t put the plans in place to ensure the increase in
turnover is possible then no matter how amazing your goal setting is, you will never reach
them.

If it was simply a case of coming up with the targets and following through by setting them
down in writing, we’d all be successful. You need to have a framework in place to ensure that
the target, in this specific instance increasing turnover, can be met.

That may mean employing an extra salesperson, paying overtime to production operatives,
putting in more hours yourself – even putting up prices. Give yourself the best possible chance
of success and do not rely on chance.

 MEDIUM TERM GOALS

A short-term goal is achievable within a few months, a medium-term goal however is designed
to take several months to up to five years to reach fulfilment. Increasing your turnover (the
short-term goal mentioned above) may cause you to set another goal to relocate to larger
premises within five years. This would be classed as a medium term goal.
Similarly, an increase in personnel, a revised remuneration package, internal organisational
change and reducing production costs via economy of scale, would also fall under the banner
of medium-term goals.

Your medium-term goals will often be set as a result of achieving short term targets – in fact
they are often driven by the achievement of short-term goals. Think of the chicken and egg
scenario – could a relocation be achieved without increased turnover: would a relocation work
without increasing staff? Everything is interlinked so make sure your goals are too.

 LONG TERM GOALS

As the name suggests, long term goals are those which will take many years to come to fruition
– usually between 5 – 10 years.

Planning any more than 10 years in advance is notoriously tricky (at least without a crystal ball
or a time machine) but that’s not to say you can’t set such long term goals – especially in terms
of an exit plan for example – just be prepared to continually adapt and adjust to take account
of changing situations.

“If the plan doesn’t work, change the plan but never change the goal.” – Unknown

Long term goals can be achieved by using a series of short- and medium-term goals as stepping
stones along the way to the end point. Breaking down your longer-term targets into a series of
smaller (and thus more achievable) steps is a great way to ensure your ultimate success.

How to Go About Goal Setting

The obvious start is to know where it is you want to end up!

Have a clear goal (or series of goals) in sight. For example:

 Increase turnover by £xx

 Increase ROI by xx%
 Increase sales by xx%
 Become the go to supplier by 2030
 Hand over the running of the business by 2035
The easiest way to arrive at goals is to simply sit down and write down ALL your personal or
organisational dreams and aspirations for the next 10 years or so (personal and business) – it
doesn’t matter how far fetched and impossible any of them may seem and at this stage you
don’t need to work out how you will achieve them. Just write them down.
Once you have your list – it may contain only a few items or it may be pages long – it’s time
for a brainstorming session to refine some of the ideas lurking in your mind. If you have a
management team this may be a good time to bring them in.

There’s lots of different ways to brainstorm:

Mind mapping can be extremely freeing and useful. Start with the goal or target, write it on a
large piece of paper and surround it with a ‘bubble’ then simply jot down anything that comes
to you (or your team) when you consider the initial idea. This could be words, images, other
ideas.

Brain dump – similar to mind mapping but even less structured! Simply write down anything
and everything that comes to mind.

List making – focus on one goal at a time and create lists of what may be required to achieve
it – including breaking it down into smaller steps and goals.

A useful way to look at goal setting in your business (and personally) is to use the ‘staircase’
method to figure out the necessary steps.

Start with ultimate GOAL – let’s say to achieve a £million turnover within 10 years – put that
as your top step.

The bottom step is where you are now – £250k for argument’s sake.

Then work out how many steps you will need to reach the top stair, the goal of £1million.

Each of these steps can become a goal along the way to achieving the end result.
 PRACTICAL NO. 12

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome: Prepare marketing strategy for your chosen product/service.

Marketing Strategy for a Cement Industry

1. Know what’s really happening in the market

The CEO should begin by acquiring comprehensive market intelligence (within the bounds of
the law, of course) and developing a clear view of the micromarkets the company competes in
as well as its own position within them. The ultimate objective is to determine the best possible
price and volume-placement approach for each micromarket. The model of each micromarket
should be based on a combination of data, such as a granular forecast of demand by segment
and of changes in supply; a profound understanding of each micromarket’s pricing regime and
potential transition points; and an accurate estimate of competitors’ manufacturing costs, their
landed costs, and their financial objectives and priorities. This analysis both provides a detailed
picture of market dynamics and pinpoints opportunities to create value.

Understanding market dynamics is also important to help cement companies avoid two errors
common to the industry. The first one is misreading the motivations and priorities of other
market players. For example, cement executives might conclude that a competitor is acting
irrationally when it seeks to maximize short-term returns rather than long-term cash generation.
In fact, executives with a clear view of market dynamics would understand that the competitor
is anything but irrational and is simply making a set of decisions based on different strategic
objectives and priorities. As basic as this sounds, this ability to read the thinking of competitors
is often missing when cement companies make commercial decisions.

2. Determine your strategy

Having gained a clear sense of market dynamics and opportunities, cement company CEOs can
then define their own company’s objectives, determine on which micromarkets to focus, and
whether to position the company as a premium player or a low-cost producer. They can then
set market-share aspirations, anticipate potential changes, and develop a set of strategic
initiatives to address opportunities and issues.

Scenario modeling is particularly helpful in this regard because it allows a CEO to identify
potentially emerging issues and think through the actions and processes (such as governance,
escalation, and decision rights) needed to react to them. One practical approach we have seen
is to compile a playbook of strategic initiatives to apply in different market scenarios. If, for
example, competitors change their plant footprints, a CEO might consider responding by
adjusting the geographical scope of the company’s customer landscape.

Such a playbook might have helped an African producer that was recently blindsided by a surge
of imports when shipping rates fell. The resulting glut forced the producer to lower its prices.
The playbook could have also helped the producer prepare for the construction of new plants,
which can quickly change the pricing dynamic in its key micromarkets.

The specifics of the strategy will necessarily vary from one company to the next, depending on
variables such as each company’s competitive position, its present-day capabilities, and above
all its specific micromarket context. But with the help of scenario modeling, deep analysis of
marketing dynamics, and appropriate goal setting, a CEO can develop a clear and practical
strategy for growth.

3. Create structural advantages

With a strategy in place, top-performing cement companies map out the structural moves that
will create competitive advantage in a specific micromarket. Structural moves to maximize
profits include acquiring productive assets, taking production offline, dedicating production
capacity to exports, or even shutting down kilns or integrated plants indefinitely (a rare move
that nevertheless can make economic sense). Alternatively, companies may conclude it is in
their interest to segment their products and control their volume to manage capacity or refine
their quality standards to strengthen their value proposition.

A producer with a leading position in Europe, for example, adjusted to a sharp drop in demand
in one country by shutting down several kilns, keeping only its grinder active. The company
then divested one of these inactive kilns in 2013. By the following year, it had reassigned its
assets, which gave it control of an integrated plant and a grinder in a different micromarket.

In the mid-1990s, another company created structural advantages for itself in China by teaming
with a joint-venture partner to focus on high-growth micromarkets there. After a few years,
some of those micromarkets had matured. At that point the company divested its plants in those
micromarkets and added capacity in other parts of the country that were still growing rapidly.

4. Test and implement commercial practices

Once the company has committed to its structural moves, it can build its commercial activities
at the regional or micromarket level. To determine the most suitable course, the producer
should simulate the impact of different tactical initiatives, such as more fine-grained customer
segmentation or changes in the pricing regime, in various market scenarios. These simulations
can provide some initial feedback about what moves are likely to have the greatest success and
how the commercial team might profitably refine its tactics.

The team should then run live market tests to determine whether outcomes match expectations.
To ensure that the commercial team executes the initiative effectively, the producer should
prepare a blueprint that provides guidelines for recommended tactics and describes the likely
effect of various scenarios.

5. Change mind-sets and build capabilities

Responsibility for developing and implementing a concise, legally compliant commercial

strategy within a given micromarket rests squarely with the local or regional CEO. But its
successful execution hinges on instilling a mind-set that supports the company’s strategic
objectives. If ROIC is the target, for example, a profitability mind-set should prevail (e.g.
reduced discounts, maintaining price discipline). If cash generation is the objective, then a
volume orientation would be more appropriate (e.g. discounting, volume pricing, trading losses
for share). To build the appropriate mind-set in commercial teams, commercial leaders should
adjust incentives to strike the right balance between value and volume that supports the chosen
strategy, and actively manage performance to provide timely feedback and direction to teams.

The choice of strategic objective will also dictate the strategic and commercial capabilities that
the company needs to build. These capabilities include market-dynamics analytics and
communications to clearly articulate organizational priorities and, of course, market strategy.
At the more tactical level, successful organizations invest in marketing (e.g. segmentation,
customer experience), pricing (e.g. pricing to value), and sales (e.g. negotiating, sales
operations) activities.

One way to build these capabilities is to create a center of excellence that spans the entire
organization, including every national or regional subsidiary. The center can train commercial
teams around specific scenarios, such as, for example, recognizing and reacting appropriately
when a rival threatens to destroy value by starting a price war.
 PRACTICAL NO. 13

Name of Student: Anurag Ajaykumar Tated

Enrollment No. : 1815850066

 Practical Outcome: Prepare a business plan for your chosen small scale enterprise.

If you are seeking outside funding, you are required to present a formal proposal. But, the
benefits of a business plan go beyond finding lenders. A strategy can help you grow your
company. Think of the concept like this: If you’re like most people, you probably wouldn’t
buy a car without doing some research. You would choose one after weighing the good and
bad traits of different vehicles. You’d make sure the car starts before signing the title. It’s a
similar situation with your business venture. You need to be sure your business has the potential
to be a worthwhile investment. A business plan can be a simple outline or a detailed document.
Your plan is a roadmap that steers you in the right direction. A business plan is not a promise
you have to keep over time.
Business Plans
So what can a solid strategy for building your business help you accomplish? Here are four
benefits of a business plan:
1. You can get outside funding
To get funding from lenders or investors, you need to show a business plan. Lenders want
to see that they are investing in a company that will last and grow. You must give lenders
a plan detailing the steps you will take as a business owner. Even if your lenders are friends
and family, it’s good to organize your ideas. A business plan helps others understand your
passion and see where their money is going. Communicating clear ideas to investors helps
prove you can get your business off the ground and build it up. You’ll need to know how
to write an exit strategy for a business plan as well. A thriving business is no good to your
investors if they have no way to eventually cash in on their investment.

2. You gain an understanding of your market

One key piece of your business plan is knowing how to conduct a market analysis. When
you conduct this study, you look at your industry, target market, and competitors. You can
see trends in decisions that could help, or harm, your business. Another great benefit of a
business plan is learning from someone else’s mistakes. Learning from other’s mistakes is
less time consuming and financially burdening than learning from your own mistakes. The
more prepared you are to deal with the aspects of your market, the easier it might be to
handle issues down the road.

3. You focus your strategies

The entrepreneur in you is eager to dive right into business. But, having a business plan can
help you pinpoint the best strategies for your company. Before you take the plunge into
ownership, work out the important details. This business plan benefit also helps you
 prioritize tasks. By looking at the big picture of your business, you can decide which
challenges to tackle first. A business plan could also help you choose which tasks to address
later.
4. You can check the financial numbers
Business plans include financial projections for your company. While the projections are
not a peek inside a crystal ball, they do represent a forecast of your financial health.
Planning for expenses will be important for keeping operations steady. Cash flow
projections help you see if your goals are possible. They also point out trends that could
potentially harm your business. The faster you spot upcoming issues, the faster you can
correct problems. Be sure that your projections match up to your expectations. Have you
set aside enough money to do the tasks at hand? Double-check your numbers so you are
prepared to handle your finances in the future. Business plan parts Here are a few items
you could include in your business plan:
 Company description telling how you will meet your customers’ needs.
 A market analysis that talks about your industry, target market, and competitors.
Services or products you will sell.
 Marketing plans for generating sales.
 Funding requests with a budget outlined.
 Financial projections from your financial statements.
 Your business plan could be anything between a basic outline to a 40-page presentation.
 If the plan is just to keep you on track, you can cover the areas you think need to be
addressed.
 The benefits of a business plan are not limited to a specific length, but can be tailored
to your needs.
 If you write your business plan for lenders, you will want a more formal, detailed plan.
Include a table of contents, a summary of your business, and an appendix with
supporting documents.

 Steps to Starting a Home-Based Photography Business

If you're ready to start getting paid to take pictures, here are the steps to get started.
1. Decide what types of photography services you’ll offer
Businesses and individuals need photographers for many reasons. Businesses need pictures
of their products for brochures. Realtors need images of the homes they’re selling.
Magazines need photos related to the articles they’re publishing. Or you can stick with non-
business photography and take portraits or photograph weddings.

2. Develop your business plan

The business plan outlines the details of your business, including the services you offer,
how you’ll differ from the competition, financial projections, and marketing strategies. This
is a good time to determine your pricing structure. For example, if you want to make
$50,000 per year and believe you can book 26 weddings a year, you’d need to charge nearly
$2,000 per wedding. Your pricing needs to take into account the cost of equipment,
supplies, and travel, as well as your time.

3. Decide your business structure

 The easiest and lowest cost option is sole proprietor; however, creating a limited liability
company (LLC) will offer greater protection of your personal assets should you run into
legal problems.

4. Create a business name

What you name your business will become the brand image, so choose a name that fits the
type of photography you want to do. If you want to take kid portraits you can have a
whimsical name, but if you want to do business photography or weddings, you’ll want
something that sounds professional or elegant. If you don’t use your given name in your
business name, you’ll likely need to file a name statement with your county clerk’s office.
You also need to check with the U. S. Patent and Trademark office to ensure the name isn’t
protected by trademark.

5. Officially establish your business

Once you have a business name and set up your business structure, you need obtain
business license or permits as required by your city or county. Although you may take
photos using a digital camera, since you’ll be giving people prints, you may need to collect
sales tax if you live in a state that charges sales tax. Your state’s comptroller or tax office
will have the necessary forms and information on how to collect and pay sales tax. Once
you have your business license, you can open a business bank account.

6. Gather needed equipment and supplies

If photography is your hobby, you may already have much of the equipment you need;
however, you’ll have to assess if the quality is high enough to charge for services. Along
with a camera, you’ll also need lenses, flashes, batteries, photo editing software, quality
photo paper and packaging used to deliver the photos to clients. You may also need lights
and screens to control lighting.

7. Create marketing materials

Along with business cards and brochures, build a website. Get permission from your
subjects before posting their photos online. Also, set up social media accounts on networks
your target market can be found. For example, if you’re doing wedding photos, you should
have a Parget market.

8. Market, market, market

The key to success in a photography business is marketing. You can’t take and get paid for
photos if no one hires you. Along with business cards, brochures and a website, use your
personal and professional networks to spread the word about your business. Attend trade
shows and events geared toward your market. For example, if you want to do wedding
photography, attend wedding shows. If you want to take pet portraits, attend dog shows.

9. Bonus Income Option: Sell Your Photos Online

Along with getting paid to take professional photos, you can also sell the photos you take
yourself (not those you're paid to take). Many stock photo sites will buy or allow you to
sell your photos.