SME Management (MGT 601)

Fall 2023 Assignment 1 Marks: 10

Learning Objectives:
This assignment aims to make students able to identify the characteristics of an Entrepreneur.
Learning Outcomes:
After attempting this assignment, students will be able to identify the different traits of an
Entrepreneur who make him successful in the entrepreneurial world.
______________________________________________________________________________

Scenario:

Sarah is a young woman who recently graduated from college with a degree in business. She's
always had a passion for fashion and a keen eye for spotting the latest trends. Sarah decides to start
her own online clothing boutique. As she embarks on her entrepreneurial journey, several
characteristics become evident which are as follows:
 Sarah is highly motivated to succeed in the competitive fashion industry. She sets
ambitious sales goals for her boutique and constantly seeks innovative ways to improve
her products and services.
 Sarah prefers to take personal responsibility for every aspect of her business, from
selecting the inventory and managing the online store to handling customer inquiries. She
believes that by being in control, she can ensure the best outcomes for her boutique.
 Sarah recognizes that the fashion industry is inherently risky due to changing trends and
consumer preferences. Despite this, she takes calculated risks, such as investing in
limited-edition items that are likely to sell well, balancing risk and reward effectively.
 Sarah is constantly thinking about the future of her boutique. She anticipates upcoming
fashion trends and plans her inventory accordingly to stay ahead of the competition.
 Sarah exhibits a high level of energy and enthusiasm in her work. She's always on the
lookout for new and creative ways to market her boutique and connect with her customer
base.

Required:

Being a student of SME Management your task is to identify which four characteristics of an
entrepreneur, are demonstrated by Sarah in her journey to establish her online clothing boutique.
Can you identify these characteristics? Mention them in the below given table.
 Characteristics of an entrepreneur present in Sarah

Characteristic 1

Characteristic 2

Characteristic 3

Characteristic 3

Please note that you only have to identify the characteristics and write them the given TABLE
ONLY
IMPORTANT INSTRUCTIONS:

• Students are advised to study the whole text carefully.

• Try not to include any irrelevant material in the solution.
• Try to come up with precise and original answers.
• Any act of plagiarism like copy-paste from the internet will result in ZERO marks.
• Assignments reaching after the due date would not be considered.
• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.

FORMATTING GUIDELINES:
• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS Word format.
• Use black font color only.

RULES FOR MARKING:

Please note that your assignment will not be graded or graded as Zero (0) if:
• It is submitted after the due date.
• The file you uploaded does not open or is corrupt.
• It is in any format other than MS Word or Open Office, e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, the internet, books, journals etc.

24 hours extra/ grace period after the due date is usually available to overcome uploading
difficulties. This extra time should only be used to meet the emergencies and above
mentioned due dates should always be treated as final to avoid any inconvenience.

Good Luck!