Question # 01: (CLO 1, PLO 12)

Explain employment creation and training reference to Entrepreneurship & Economic

Development in Pakistan in current scenario.

Entrepreneur creates employment opportunities through their businesses. To develop any business, it
requires resources such as natural resources, financial resources, and human resources. Innovative
concepts and new technologies are important to grow your business. Entrepreneur combines all these
resources, innovative ideas, and new technologies into a profitable business enterprise and creates job
opportunities. Entrepreneur plays important role in creating employment opportunities with setting up the
new business enterprise. Or by expanding an existing business, they create job opportunities. The most
important advantage of entrepreneurship is that they create employment opportunities.

Economic development

To development of an entrepreneurship culture in the Pakistan, the system of laws and policies that are
promoting it will have to be dismantled. Entrepreneurship development as a conscious mechanism in
Pakistan is a recent post-colonial phenomenon. This has been an exciting period in which international
aid was sought with the purpose of achieving economic development. The international networking of
research with fledgling local counterparts dedicated themselves to developing policy instruments for
delivering this noble purpose. Sadly, even after 60 years poverty persists and other countries, like
Pakistan, are caught in poverty.

Health and Technology

The pandemic is going to have lasting ramifications, for at least the next decade, in how we take
care of others and ourselves. The ventilator shortage has exposed critical gaps in our
manufacturing capacity, gaps that a perceptive entrepreneur can move in to fill, producing
components currently hard to source domestically. We are also going to be seeing more of a
drive for advanced thermal scans and protective gear to help keep the virus contained once the
pandemic itself has passed. That means there is a huge opening now for the development of
sophisticated health technologies that can be deployed on a business and consumer level to a
market in need of keeping everyone safe.

Question # 02: (CLO 1, PLO 12)

Summarize case study 7.1 and 7.2 in your own words

Case 7.1:

Jack Peterson and Sarah Jones planned to start a business of selling accessories of iPhones, iPads and
iPods meeting in an introduction to entrepreneurship course at their local university. They also
developed a tentative name of their business as “iUser Accessories” and a website
www.iuseraccessories.com and posted it on GoDaddy.com. But they required a trademark to their
business through a trademark attorney. In order to check the feasibility of their business plan they
developed a concept statement and distributed it to 20 people related to their business and got a
positive response and also got the instruction to post videos on website about how could their
accessories help in better use of the iPhones, iPads and Ipods that costs $5.99 one-time download fee.
They planned a start-up of $66000 which was promised from their friends and relatives. They projected
that they will get money back in four months and both will get $35000 salaries yearly from the business.
To get trademark they get appointment from an attorney and before meeting him listed all the issues
and mailed them to the attorney. On the promised day the attorney had already sorted out the issues
and he told them both that they can get started with the business.
Case 7.2:

Credibility is of utmost importance for both profitable and non-profitable organizations without
which an organization cannot stand up. The 8 most important techniques to gain credibility and
trust are having an attractive logo, corporate e-mail address and professional looking website to
create a first impression, presenting the received media coverage as it is a sign of support, get
and present experts testimonials, give people a reason to care by explaining them in informal
ways, tell your story about how you come up with the idea of your business and it will attract and
inspire most of them, appear on social media applications such twitter and Facebook and tell
people how you will make good use of their money. This will help you get people’s credibility
and trust. The explanation is given through one profitable and one non-profitable organization.
First one is CoachUp that was launched by Jordan Fliegel who learned from this a lot through a
coach who teaches him basketball in 2012. 60000 athletes have gained training from 12000
coaches since the organization was launched. The other one is Charity water founded by Scott
Harrison in 2006 and has helped funding 11,700 water projects in 22 countries. The reason these
two organizations gained credibility and trust is that they extremely followed the above 8
techniques precisely i.e they have good attractive logo and e-mail addresses , have presented
good media coverage that they gained on their official website, presented the use of the money of
the investors on their respective websites etc.