SUMAIYA RANA

02-111211-134
BBA 5E
ENTREPRENEURSHIP
13-03-2023
ASSIGNMENT# 01

Q: 1 Explain the entrepreneurial characteristics of Tariq. How

did they evolve over a period of time?
Ans: The entrepreneurial characteristics of Tariq
are:

CHARACTERISTICS:
Decision making skills:
At the beginning of his career Tariq was worried
about his future career.
Risk taker:
He putted all his finances on risk at a very critical
financial condition.
Passion:
Tariq had very much interest in machines and he
was always curious to learn their use and the way
they work. This let him to opt for mechanical
engineering degree.
Optimistic:
He was very much confident with his future
career, as he was having a positive mindset.
Desire to excel:
Tariq was interested to join army, as he was
motivated from the pride and owner of war era of
1965.
Leadership skills:
He joined army as a captain.
Team building:
His job requirement was working in teams.
Focused:
Tariq was focused on learning the work.
Learning from failure:
After the war of 1971, Tariq became very
skeptical about his career and lost his interest in
army which was his career. He was subject to pay
back the expenses that had on him after he
resigned from the program.
Tariq was a mechanical engineer graduated from
university of engineering and technology. After
that he worked in different construction
companies such as national construction company
Millat tractors and PEL, from where he got
sufficient experience in the field that led him to
establish his own construction company koldkraft
Pakistan that had been way successful in its initial
times. His business success was directly related to
the economic condition of the company.
Therefore, due to the economic crises the
company had been stagnant for 3 years. Which
let the company to be diversified in various
industries in order to maintain growth and
survival of the company.

Q2. What is the roll of formal education in

starting an entrepreneurial venture? Do you
think an MBA will help and train you in this
regard?

Ans: According to my perceptions, formal

education can help us to cultivate creativity and
teamwork which are both essential in capacities
to shine in the organizational life. The education
train us the ability to develop multiple
opportunities and ideas and ability to make it all
real, it helps the entrepreneur to think in all
possible ways and find the best way to develop
business with full potential
If we talk about how MBA can train us on this
regard so it is important to know that, It is the
program of study that equips us with skills
related to the business planning, marketing,
strategy and finance. If we want to become an
entrepreneur, an MBA could be the first step for
us. In order to kick-start a business, we need to
have extensive knowledge about the market
trends, customers’ needs and the business
environment.
It is not necessary to have MBA degree to own
and run a business. An MBA degree is not
imperative to become a successful entrepreneur;
however, it gives us an edge over our
contemporaries. Moreover, we will be able to
make critical decisions so our start-up venture
can become successful.
There are many advantages of MBA some of
them are:
 Budget management
 Leadership skills
 Diversity management
 Research and development
 Planning skills

3.How did Tariq start his venture? What were

the most important things i.e. finance, people or
idea to start his business.
Ans: First, he started to look for the engineering
projects on the basis of his education, then he
started counting on the network he made while
working at PEL. He went to his bank manager
for finance but failed to get the letter of credit.
Due to the strength to face the failure he got stuck
to his mission and carried on. Even after he
realized that the all the contacts, he made at PEL
are of no use at all. Still he kept on looking for
alternatives. Where he found initial support from
his brother and close friends in less formal
network. After which he got orders of engineering
projects and his confident for success grew very
much. Even his colleagues from PEL got
interested and provided him the support. Those
people who joined him as partners enjoyed the
work that’s what the important part is.
Furthermore, they expanded by manufacturing
tractor parts. Considering the rapid growth in the
industry. As reality perception, They bought in
the manufacturing of the parts of tractors that
were difficult to manufacture in Pakistan through
time and effort. They worked extensively across
the manufacturing industry and got succeeded
after few revisions of samples. They learned from
the experience of ford to change their approach
They kept on looking for new opportunity to
Pakistan and to serve to more than one industry.
Therefore, they further expanded themselves in
refrigeration unit to provide service to Prime
Dairies. The important thing was that Tariq
focused on the projects where he knew he could
deliver his best. HE further explored on the
refrigeration. He discovered unsolved problems
such as the imported units were not designed for
the climate of Pakistan. So, he started developing
more localized and robust designs, and
introduced them in the market. Further Tariq
was offered with the opportunity to install reefers
on vehicles by Prime Dairies. They became
pioneers in developing quality standard
refrigeration solutions for logistics in Pakistan.
By the time he restructured his business. To new
location and registered as KoldKraft PVt ltd
company. The company expanded in specializing
in
Engineering
Design
Manufacture
Installation
 Commercial refrigeration
Process systems The clients included
Dairies
Poultries
Agricultural storageFood
Beverages
Chemical
Pharmaceuticals
Hotel and Restaurants