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Saudi Electronic University Homework Help

Management Question

Description

I want the answer without similarity at all, and Conceptual and professional, they’re important. I have a solution model.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences

Assignment 3
Entrepreneurship and small business (MGT 402)
Due Date: 30/11/2024 @ 23:59
Course Name: Entrepreneurship and small
business
Course Code: MGT402

Student’s Name:

Semester: First

CRN: 16505

Student’s ID Number:

Academic Year:2024-25-1st

For Instructor’s Use only
Instructor’s Name: Dr. Mir Satar
Students’ Grade: / 10

Level of Marks: High/Middle/Low

General Instructions – PLEASE READ THEM CAREFULLY
•
•
•
•
•
•
•
•

Restricted – ‫مقيد‬

The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced
for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No
pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.

Learning Outcomes:
1. Describe the place of small business in history and explore the strengths and weaknesses
of small business.
2. Design a solid projected financial plan and conduct a breakeven analysis for a small
company.
3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner.
4. Illustrate the ability to think independently and systematically on developing a viable
business model.

Assignment Workload:
This assignment is an individual assignment.

Critical Thinking
Students are supposed to read the attached Case -Panda Sunglasses. Based on your
understanding of the case and basic concepts of Entrepreneurship.
Answer the following question:
1. How can social entrepreneurs such as the founders of Panada Sunglasses use their
companies’ social missions to attract customers and promote their business? (2 marks)
2. How should the founders of Panada Sunglasses define a unique selling proposition for
their company that resonate with customers? (2 marks)
3. Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing
plan for the company? (2 marks)
4. Use the business model canvas to illustrate Panda Sunglasses business model. Can you
identify other revenue streams that could support the company? How can the company
strengthen its relationships with customers? (2marks)
5.How should the founders of Panda Sunglasses use social media to market their company
and its products? What can they do to increase the traffic to and generate more sales from
their company’s Web site? (2 marks)
The Answer must follow the outline points below:
• Each answer should be within the range of 300 to 350-word counts.
• Reference
Note: You can support your answer with the course book.
You can use secondary sources available on internet.

Restricted – ‫مقيد‬

Answer:
1.
2.
3.
4.

Restricted – ‫مقيد‬

Case 1

Panda Sunglasses
How Should a Start-Up Business with
a Social Mission Market Its Sunglasses
with Bamboo Frames?

incent Ko showed his entrepreneurial potential in high
school in Rockville, Maryland, when, as a young hockey
player, he invented a drying rack for hockey pads that he sold
to his teammates, then on eBay, and finally on a Web site for
the company he created. A few years later, while attending
George Washington University in Washington, D.C., Ko and
two friends, Luke Lagera and Mike Mills, were inspired by
the growing social entrepreneurship movement and the success of companies such as TOMS shoes, a company founded
by Blake Mycoskie that donates a pair of shoes to someone in need for every pair it sells. One day while walking
through the Georgetown shopping district, the friends noticed a display of sunglasses and decided to create a business
that would market cool sunglasses and provide eye examinations to someone in need for every pair sold. In keeping with
the idea of a socially responsible company, Ko suggested
that they make their sunglasses frames from eco-friendly
bamboo, a lightweight, sturdy wood that grows extremely
fast. Having grown up in China, Ko was familiar with the
properties of the renewable wood and knew that it was the
perfect material from which to make sunglasses frames.
They created a company, Panda Sunglasses, and set out
to find companies that could make the product they envisioned. Ko knew bamboo was the most commonly used wood
in China, so the team began looking for a company in China
to manufacture the frames to their specifications. Not only
did they find a Chinese wood shop that would make their
sunglasses frames, but they also located a Chinese eye wear
manufacturer to produce the polarized lenses. Pairing the two
companies gave them their unique, stylish sunglasses, which
float. They created a Web site and began selling them at $120
a pair. Through a connection that Lagera had, the young
entrepreneurs found an ideal partner in the Tribal Outreach
Medical Association (TOMA), a nonprofit organization that
provides eye examinations and other health services for tribal
communities. They quickly reached a deal: For every pair of
Panda Sunglasses sold, the company would pay for one eye
exam through TOMA.
The entrepreneurs’ next challenge was to market their
unique sunglasses and their potential to help people in need.
They knew that without sales, their effort at “conscious capitalism” would be for naught. None of the three cofounders
had any experience in the retail industry, but they learned
quickly on the job. The young men had just graduated and
took “regular” jobs to pay their bills, but they remained
690

dedicated to making Panda Sunglasses a success. After testing sales of their sunglasses online, the trio began applying for
spots in various trade shows geared toward accessories. One
of the shows they applied to was the prestigious ENK International trade show, which attracts more than 250,000 buyers
and press members from across the globe. Companies that are
accepted to the juried show find sales leads that generate total
sales of more than $1 billion. Mills sent Ko an e-mail in which
he joked that they would be willing to set up in a broom closet
at ENK if their application were accepted. Ko forwarded that
e-mail to executives at ENK, who responded with, “We’ll find
you a booth instead.” At the ENK show, Ko says he and his
cofounders, fresh out of college, created a booth that featured
a giant bamboo backdrop that attracted a great deal of attention. At one point, they struck up a conversation with three
women, who they learned were buyers from the retail chain
Nordstrom. The trade show opened many doors for the young
company, and less than two years after starting, Panda Sunglasses was generating annual sales of $350,000.
Questions
1. How can social entrepreneurs such as the founders of
Panda Sunglasses use their companies’ social missions
to attract customers and promote their businesses?
2. How should the founders of Panda Sunglasses define
a unique selling proposition for their company that
resonates with customers?
3. Write a brief memo to the founders of Panda
Sunglasses outlining a bootstrap marketing plan
for the company.
4. Use the business model canvas to illustrate Panda Sunglasses’s business model. Can you identify other revenue
streams that could support the company? How can the
company strengthen its relationships with customers?
5. How should the founders of Panda Sunglasses use
social media to market their company and its products?
What can they do to increase the traffic to and generate
more sales from their company’s Web site?
Sources: Based on Nancy Dahlberg, “Start-up Spotlight: Panda,” Miami
Herald, June 29, 2014,
4207736/startup-spotlight-panda.html; Olga Khazan, “Panda Glasses
Are TOMS Shoes for Your Face,” Washington Post, May 24, 2012, http://
www.washingtonpost.com/blogs/on-small-business/post/panda-glassesare-toms-shoes-for-your-face/2012/05/23/gJQAsOPhlU_blog.html;
Alicia Ciccone, “Vincent Ko, Panda Sunglasses: Sustainable Bamboo
Eyewear That Gives Back,” Huffington Post, May 25, 2012,
.huffingtonpost.com/2012/05/25/vincent-ko-panda-sunglasses_n_1544043
.html; “Panda Sunglasses Are More Than Meets the Eye,” Asian Fortune,
April 25, 2014, .asianfortunenews.com/2014/04/pandasunglasses-are-more-than-meets-the-eye/; Zach Gordon, “Alums’
Business Aims to Help the Needy,” The Hoya, May 17, 2012,
.thehoya.com/alums-business-aims-to-help-the-needy/.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

Department of Business Administration

College of Administrative and Financial Sciences

Assignment 1

Course Name: Entrepreneurship and
small business

Semester: 2nd

Student’s Name: SEU ELITE
Student’s ID Number:

Course Code: MGT402

Entrepreneurship and small business (MGT 402)
Due Date: 14th January 2023 @ 23:59- The 6th week

CRN:

Academic Year: 2022-23

For Instructor’s Use only

Instructor’s Name:

Level of Marks: High/Middle/Low

Students’ Grade: Marks Obtained/Out
of 15

Instructions – PLEASE READ THEM CAREFULLY
 The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.

 Assignments submitted through email will not be accepted.
 Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
 Students must mention question number clearly in their answer.
 Late submission will NOT be accepted.

 Avoid plagiarism, the work should be in your own words, copying from students
or other resources without proper referencing will result in ZERO marks. No
exceptions.
 All answered must be typed using Times New Roman (size 12, double-spaced)
font. No pictures containing text will be accepted and will be considered
plagiarism).
Submissions without this cover page will NOT be accepted
 Place of Submission is Blackboard.

 Weight 15 Marks

Learning Outcomes:

1. Describe the place of small business in history and explore the strengths and weaknesses of
small business. (LO 1)
2. Design a solid projected financial plan and conduct a breakeven analysis for a small company.

(LO 3)

3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner. (LO 5)

Case Study

Students are supposed to read the attached Case -Panda Sunglasses. Based on your understanding
of the case and basic concepts of Entrepreneurship.

Answer the following question:
1. How can social entrepreneurs such as the founders of Panada Sunglasses use their companies’
social missions to attract customers and promote their business? (3 marks)
2. How should the founders of Panada Sunglasses define a unique selling proposition for their
company that resonate with customers? (3 marks)
3. Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing plan
for the company? (3 marks)
4. Use the business model canvas to illustrate Panda Sunglasses business model. Can you identify
other revenue streams that could support the company? How can the company strengthen its
relationships with customers? (3 marks)

5.How should the founders of Panda Sunglasses use social media to market their company and its
products? What can they do to increase the traffic to and generate more sales from their
company’s Web site? (3 marks)
Reference should be included.



Answers:

Answer 1
Panda Sunglasses founders are defined as social entrepreneurs who aim at finding
vast business opportunities that can benefit the community/society and the globe.

This means that they aim at ensuring that their products and services are known to all

people in the globe and that despite making great profits and sales, the community
benefits from such business operations. In their scenario, the company’s social mission

incorporates environmental and humanitarian aspects. This is because it entails having
sunglasses that are environmental friendly by using renewable and sustainable wood.
This would help in ensuring that the environment is well protected as they would be no
need of producing commodities that because to the people through environmental

pollution. When eco-friendly materials are used in this context it proves that the

company minds about the society’s welfare.
Also, the eyewear frames will aid the society in attaining a greener environment

unlike when plastic frames are used to make the glasses. It is crucial to highlight that
plastics are not environmental friendly and that they serve as pollutants which affect the
community and especially the people’s health in diverse ways. Additionally, as social
business visionaries the company’s cofounders offered free eye checkups to the less
privileged people for each pair of sunglasses they sold. This is because they considered

that there are people in the community who have eye problems but cannot afford to pay
for eye examinations. The more the sales, then this means that more people will be
offered help
With all

the

social

missions

that

the

cofounders

established,

they

easily identified potential clients and partners. Such stakeholders aided in propelling

the businesses and ensuring that there was stable continuity. The social missions aided

the company’s founders garner popularity and empower individuals to buy the
sunglasses with bamboo frames via online sites, the web and international trade shows

that help in attracting many clients even in the future. From a client’s viewpoint, the
founders find and exhibit that the firm considers the people’s interest by ensuring that
they help the community through the CSR program of offering free examinations and a
pair of sunglasses from all sales. This means that the initiative was not only about profit

making but also about ensuring that customers are content with the business being

conducted. Also the CSR initiative an ensuring use of ecofriendly materials in making
the sunglasses is an edge to help in attracting many clients and fosters business to gain
competitive advantage (Sánchez‐Tornéet al., 2020).
Answer 2

The unique selling proposition (USP) ought to be unique and provide something
that the competition does not offer (Caldieraro & Cunha, 2022). An ideal USP is brief
and helps clients comprehend what they are capable to do for them. The USP ought to

link the target clients and outline the three main merits. It might focus on the intangible
emotional

and

psychological merits that services and

products

provides.

This

is because they ae vast benefits in the products and services offered to clients that are
not regularly outlined. Further, they should establish a list of vital facts that aim at
supporting the firm’s USP. These would include fully trained workers, full-time service

which means 24 hours and ecofriendly raw materials.

Fully-trained employees are vital as they would aid in increasing the company’s
productivity, improving the team functionality, reducing layoffs, reducing the high rate

of employee turnover. It also aids in curbing and identifying evident skill gaps, building
and engaging competitive merit and bettering the employee engagement (Green &
Taylor, 2022). Itwould thus be crucial to ensure that is an exploration of training and
development initiatives in the firm to ensure that the workers pursue careers that can

help in boosting their skills and expertise that is highly needed in production, marketing

and sales of the sunglasses. Having a 24-hour functionality would aid in ensuring that
all activities run as planed which means there would be no delay in production. In this
case, there would be more sales as products would be available upon demand. In return,
the more sunglasses are sold this would imply that more people would get free
consultations and free pairs of sunglasses to help cater for their eye problems yet they
cannot easily afford to cater for such bills.

In my opinion, the company’s founders have already attained the concept of USP.
Their products are unique from those of the existing competitors. The bamboo stands
helps in creating uniqueness. Also the founders, uphold environmental protection that
will help in attracting clients who are seeking to purchase, fashionable, quality and long
lasting products that foster social responsibility. It is important to understand that

customers want to be associated with business or firms that ok forward to promote the
needs of the community as they feel valued. CSR also helps in gaining more sales

through customer attraction as there are those clients who would like to support a
business that is willing to help the less privileged people in society/in the globe

(Scarborough & Cornwall, 2015).
Answer 3

To Panda Sunglasses’ co-founders

In the verge of saving money reducing expenses, I would suggest on time cost

saving advertisement which can be conducted through the weblogs, the internet or by
employing business cards. This would help in creating awareness to more people as
people are now more connected to social media using different platforms. Also most
people own gadget that can help them access the things posted in the internet time after
time. Blogs offer extensive content regarding the products that companies offer and also
the different services customers get to enjoy. In the blogs there would be an outline of
the social responsibility carried out by the company. This would help the community

and the globe comprehend that despite the company focusing on making vast profits
there is also a focus on upholding their interests. This is because of the aspect of
ensuring that those who cannot afford to pay for eye checkups are considered after each
sales of a pair of spectacles made by the company.
I would also mention that by utilizing Twitter and Facebook the company would

easily reach the target marker at no cost. Because many people can easily access such

sites and when important details are shared on such social media platforms then more
customers can access the content and understand what the company offers.

This mean more customers would be motivated to purchase a pair of sunglasses to help
boost the company’s growth and also to foster the CSR initiative(Sánchez‐Torné et al.,
2020). Once the company’s products begin selling the clients will notice the value of
the products and begin talking about them their friends. This is also termed as word of

mouth marketing which helps in pushing a business forward since customers tend to

believe the reviews of their fellows as compared to the content posted by the company.
Also, you may also check out free radio and television advertisements as such

platforms would help in putting out content to the public. In a nutshell, it is important
to search for new advertising, promotion and marketing opportunities as this would help
in gaining popularity in the market hence attaining more profits while still focusing on
social responsibility. It would also be vital to consider customers’ needs as this would
aid in communicating the company’s value in a comprehensive manner to help create

better awareness. I am certain that the firm’s values will be attained as the products are
embraced by the society.
Answer 4
Environmental friendly commodities are made of natural materials that have no
negative impact on the surroundings. Such products help clients appreciate companies

and also help in conserving the environment (Alamsyah et al., 2020). The company’s

business model entails different aspects. One of them is the structure of cost which
matters in the model as the expense of all factors is considered in the business. This is

because the costs incurred have to be considered to ensure that no losses are
encountered in the process of conducting business as losses would mean slowing down
of activities or even closure of the company in the long run. Lagging begin would be

far.

bad as the cofounders have worked hard over the years to attain the success gained so

The other aspect is main resources, whereby the company has eco-friendly
resources such as bamboo which are used to make the spectacles. The other one is
collaborations or partnerships, the company emphasizes on collaborating with retailing
partners and not with normal companies that provide sunglasses. This is because the
company is more affiliated to manufacturing eco-friendly commodities. Another one is
main activities and in this case the two key activities entail focusing on social and
environmental activities such as eye-test facilities which are offered freely to less

privileged people once each sale is made. There is value establishment by the firm,
clients buy the environmental friendly products made from bamboo and which are
unique from those offered by existing competitors. This also helps in creating value for
the clients.
The other aspect is generating revenue. The company aims at gaining profits

without compromising the environment and this has helped retain and attract new

clients. Lastly, there is the component of targeted client segment who are adult, middleaged and young clients who are willing to purchase unique spectacles that uphold

environmental friendliness. There are different revenue streams that can support the
firm. It is vital to comprehend that revenue streams are revenue-generating dealings.
The firm earns revenue when products are purchased and thus to generate more income,
the form can market its products to help gain more revenue ashes would boost overall

growth. Lastly, the firm can strengthen its relationship with its clients and tis can be

achieved though marketing and promotional tactics to help reach a wider clientele. The
company can also ensure that it upholds uniqueness in the production of its products as
this is a concept that helps more customers want to be associated with the firm.
Answer 5

Panda Sunglasses can utilize social media by marketing its products and services
by starting a blog which entails client feedback and review of the products they have
purchased. Offering reviews helps in identifying the areas that need vital rectifications

as this could help in propelling the goals of the business. Also, most of
the feedback offered by clients helps in creating an ideal basis for new customers to
check on the products and services from the company (Infante & Mardikaningsih,
2022). In this case, they are able to conduct an easy and close reference of the reviews
and make wise choices about the available goods and services. They can also create

YouTube videos that can help in expounding to the community the products and
services that are offered.

It is key to highlight that in today’s era most people are now able to access
YouTube via their gadgets and this in return helps them comprehend the services and

products offered. The videos should be comprehensive and also well created to help in
ensuring better understanding. The founders can also embrace use of social media
networking such as LinkedIn, Pinterest, Twitter, Instagram and Facebook. Such

platforms have become commonly used in the community as most people have active
accounts in one or more platforms. It has become easy to access different content

from different companies and businesses hence the need to keep up with the current
trends in the market(Scarborough & Cornwall, 2015). This would help in boosting
competitive merit through creating of sales
and earnings of moreprofits as compared to the existing competitors in the market.
The company should ensure that it posts different
content regarding the services and products offered including the extent at which the
company fosters environmental friendliness. This would help the customers know that

the company values their interests. Also, to gain more traffic on the
company’s website the co-founders can ensure that when existing and potential
customers search for the spectacles their site appears first on the search engine. This
would aid in reducing the likelihood of searching for the products and services in
other places hence more customers being affiliated to the company. In return, it would

mean that more sales ae been accumulated hence helping more people as each pair of
sunglasses sold means heling out a person who is not easily able to afford the regular

checkups or even no able to afford to buy a pair of sunglasses depose having eye

problems.

E
IT

References

Alamsyah, D., Othman, N., & Mohammed, H. (2020). The awareness of
environmentally friendly products: The impact of green advertising and green
brand image. Management Science Letters, 10(9), 1961-1968.

Attached: Case 1 Panda Sunglasses

Caldieraro, F., & Cunha Jr, M. (2022). Consumers’ response to weak unique selling
propositions: Implications for optimal product recommendation
strategy. International Journal of Research in Marketing, 39(3), 724-744.

Green, A., & Taylor, A. (2022). Getting the right skills in place for manufacturing:
challenges and opportunities. A Research Agenda for Manufacturing Industries
in the Global Economy.

Infante, A., & Mardikaningsih, R. (2022). The Potential of social media as a Means of
Online Business Promotion. Journal of Social Science Studies (JOS3), 2(2), 4549.
Sánchez‐Torné, I., Morán‐Álvarez, J. C., & Pérez‐López, J. A. (2020). The
importance of corporate social responsibility in achieving high corporate

reputation. Corporate Social Responsibility and Environmental

Management, 27(6), 2692-2700.

Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small

business management (11th ed.). UpperSaddle River, NJ: Prentice Hall.

ISBN: 9780133506327 (print); 9780133508239 (e-text).

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

Department of Business Administration

College of Administrative and Financial Sciences

Assignment 1

Course Name: Entrepreneurship and
small business
Semester: 2nd

Student’s Name:

SEU ELITE

Student’s ID Number:

Course Code: MGT402

Entrepreneurship and small business (MGT 402)
Due Date: 14th January 2023 @ 23:59- The 6th week

CRN: 22970

Academic Year: 2022-23

For Instructor’s Use only

Instructor’s Name: Farhat anjum

Level of Marks: High/Middle/Low

Students’ Grade: Marks Obtained/Out
of 15

Instructions – PLEASE READ THEM CAREFULLY
 The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.

 Weight 15 Marks

Learning Outcomes:

(LO 3)

3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner. (LO 5)

Case Study

Students are supposed to read the attached Case -Panda Sunglasses. Based on your understanding
of the case and basic concepts of Entrepreneurship.



Answers:
Question One
Social entrepreneurs, such as the founders of Panada Sunglasses, can leverage their social
missions to attract customers and promote their businesses. When organizations have a social
mission, they communicate to their consumers, stakeholders, and employees of their values and

principles. This helps attract consumers that share similar values and principles and directly
promote the organization’s brand identity. One important factor to understand is that people are

increasingly interested in social enterprises, organizations that give back to the community.
Other than their corporate goals, businesses are also required to have social ones, goals, and

objectives that communicate their value for the community and establish their contribution
towards growth and development. Research points to successful businesses such as Apple Inc.
actively leveraging their social missions to communicate with the community on their intent to
operate ethically and in consideration of the community’s needs (Gupta et al. 2020). This

influences the development of a positive brand identity characterized by an image that is largely
established on cultivating the relationship between the organization and the community.

Essentially, social entrepreneurs such as the founders of Panada Sunglasses use their Companies’
social mission to attract consumers and promote their business towards actualization.
Question Two

To define a unique proposition for their Company that resonates with the consumers,

entrepreneurs should identify one factor that provides them with a competitive advantage. To
understand this, it is necessary to first define and explain the meaning of a unique selling
proposition. A unique selling proposition, according to the readings provided thus far, points to

business and corporate factors that essentially make your organization/business better than the
competition in the market. It is a clear and specific benefit that differentiates the business from
competitors and makes it stand out in the market. Based on the information provided, Panada
Sunglasses can begin by defining the social aspect they have heavily invested in (Sahasranamam
& Nandakumar, 2020). With good promotional and advertisement strategies, the brand can
ensure that it communicates its desire to ensure the provision of good eye care to the community

and especially to those that cannot find it affordable. It can capture the fact that for every
sunglass sold, the business is willing to donate the same amount of money or a specific sum to an

optical healthcare organization.

Question Three

The success of Panada Sunglasses is highly dependent on the marketing and advertising
technique leveraged. One important factor to understand is that the business has been launched,
proving both viable and feasible. To survive in the market, however, the organization must

continually ensure that they market their products and services, centering on the inherent unique
selling proposition or an element that provides for competitive advantage.

One channel that can be leveraged is social media marketing. It is essential to note that

we live in an increasingly technological and advanced world. The development of the internet, in
particular, has exposed businesses to multiple marketing and advertising opportunities, with
different platforms and applications being rolled out. Panada Sunglasses needs to first define its
target consumers. Once this is done, the organization should identify an area to focus on,
narrowing down on locations that offer much promise of success and actualization. Through
platforms such as Facebook, Instagram, and LinkedIn, the business can connect with this target

audience, leveraging practices such as email and content marketing to influence interest and
attention.
Question Four
The following CANVA model belongs to Panada Sunglasses:


Customer Segment- Young and savvy consumers. These are individuals that are looking for



Value proposition- The consumer primarily engages the business because of its eco-friendly

ness, a factor that also provides for differentiation.


stylish yet eco-friendly sunglasses.

Channels- Retail and digital channels should be leveraged in selling the products and



promoting the organization’s brand image and identity.

Customer Relationships – The customers would be engaged through retail channels, using
different promotional activities to popularize their socially responsible nature.
Revenue Streams- The revenue stream should be transaction based.



Key Activities- One of the primary activities is the eco-friendly nature of the product, and the



second activity is the social contribution provided in the form of free eyesight for every

product sold.



Key Resources- The organization should ensure strategic tie-ups with retail partners,
leveraging different strategic marketing practices to promote their social nature and compete
with other sun glass Companies.



Key Partnerships- In developing key partners, the entrepreneurs should ensure to focus on
brands and organizations that are extremely eco-friendly. This does well to promote its
values and principles, a factor that later reflects on its image and reputation.

Question Five
The founders of Panda Sunglass can use social media to market their Company and its
products. Through platforms such as Instagram and Facebook, the organization can ensure to
communicate its products and services while at the same time creating awareness in new
customer segments. Social media is considered one of the most powerful communication and
interactive tools, connecting people from all over the world (Felix et al. 2017). With platforms

such as Facebook and Instagram, Panada Sunglasses can ensure that it reaches different customer

segments across the world. To increase traffic on these platforms and pages, they can first ensure
to use the of different social media and marketing techniques such as offering Give-away,
leveraging influencer and celebrity marketing, and contributing to key and important subject

matters. One important factor to understand is that existing on these platforms is not enough.
Ensuring that consumers get to interact with the brand, its products, and its services is key and

center on making sales, revenues, and profits.

References
Felix, R., Rauschnabel, P. A., & Hinsch, C. (2017). Elements of strategic social media
marketing: A holistic framework. Journal of Business Research, 70, 118-126.

Gupta, P., Chauhan, S., Paul, J., & Jaiswal, M. P. (2020). Social entrepreneurship research: A

review and future research agenda. Journal of Business Research, 113, 209-229.

Sahasranamam, S., & Nandakumar, M. K. (2020). Individual capital and social entrepreneurship:

Role of formal institutions. Journal of Business Research, 107, 104-117.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences

Assignment 2 MGT402 (3rd Term 2022-2023)
Deadline: 03/06/2023 @ 23:59
Course Name: Entrepreneurship and
small business
Course Code: MGT402

Student’s Name: SEU ELITE

Semester: 3rd

CRN:

Student’s ID Number:

For Instructor’s Use only
Instructor’s Name: Dina Sharqawi

Level of Marks: High/Middle/Low

Students’ Grade: /15

Academic Year: 1444 H (2022-2023)3rd Term

Instructions – PLEASE READ THEM CAREFULLY




This assignment is an individual assignment.
Due date for Assignment 2 is 03/06/2023

 The Assignment must be submitted only in WORD format via allocated folder.
 Assignments submitted through email will not be accepted.

 Students are advised to make their work clear and well presented; marks may be reduced
for poor presentation. This includes filling your information on the cover page.

 Students must mention question number clearly in their answer.
 Late submission will NOT be accepted.
 Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.

 All answered must be typed using Times New Roman (size 12, double-spaced) font. No
pictures containing text will be accepted and will be considered plagiarism).
 Submissions without this cover page will NOT be accepted.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
Entrepreneurship and small business
ASSIGNMENT -2

Submission Date by students: Before the end of Week- 11th
Place of Submission: Students Grade Centre
Weight: 15 Marks
Learning Outcome:
1. Outline the solid understanding of the potential of entrepreneurs in today’s competitive business world.
2. Describe the place of small business in history and explore the strengths and weaknesses of small
business.
3. Demonstrate the ability to deliver and communicate marketing messages in a coherent and professional
manner.
Assignment Workload:
This assignment is an individual assignment.

Critical Thinking

Students are supposed to read the attached Case -Panda Sunglasses. Based on your understanding of the
case and basic concepts of Entrepreneurship.

2. How should the founders of Panada Sunglasses define a unique selling proposition for their company
that resonate with customers? (3 marks)
3. Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing plan for the
company? (3 marks)
4. Use the business model canvas to illustrate Panda Sunglasses business model. Can you identify other
revenue streams that could support the company? How can the company strengthen its relationships with
customers? (3 marks)
5.How should the founders of Panda Sunglasses use social media to market their company and its
products? What can they do to increase the traffic to and generate more sales from their company’s Web
site? (3 marks)
The Answer must follow the outline points below:

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
 Each answer should be within the range of 300 to 350-word counts.
 Reference
Note: You can support your answer with the course book.
You can use secondary sources available on internet.
Answer:

Social entrepreneurs like the founders of Panda Sunglasses can leverage their companies’ social

missions to attract customers and promote their businesses in several ways.

Storytelling and Authenticity: Sharing the inspiring story behind the company’s creation and

social mission can create an emotional connection with potential customers. The founders can share
their personal experiences and motivations to frame their brand as authentic and genuinely committed to
making a difference. This storytelling approach can be done through a compelling “About Us” section
on their website, interviews, blog posts, or social media posts.

Cause-related marketing: Partnering with a non-profit organization, like the Tribal Outreach
Medical Association (TOMA), creates opportunities for cause-related marketing campaigns. These

campaigns showcase the company’s dedication to giving back and promoting its products. Panda
Sunglasses could market its “Buy One, Give One” model as a key selling point by emphasizing that each
purchase directly contributes to eye examinations for those in need.
Social media engagement: Social entrepreneurs can use social media platforms to showcase

their company’s social impact, engage with customers, and reach a broader audience. Regularly sharing
updates on donations and impact stories helps keep customers informed about the tangible difference

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
they’re making through purchasing from Panda Sunglasses. This visibility can encourage loyalty, wordof-mouth referrals, and potential collaborations with other organizations.
Events and trade shows: Participating in trade shows or hosting events that align with the

company’s values or target audience is another way to gain exposure and attract customers. In these
settings, founders can demonstrate how their sunglasses are unique in design and purpose. Collaborating

with like-minded businesses or participating in community programs can further boost the company’s
reputation and reach.

Media coverage: Securing positive press coverage or endorsements from influential figures can
help amplify Panda Sunglasses’ message and raise awareness of their social mission among potential
customers. Crafting well-written press releases or pitching human interest stories to writers can generate
media buzz and increase their visibility.

By combining these strategies, social entrepreneurs like the founders of Panda Sunglasses can
effectively leverage their social missions to attract customers and promote their businesses. This helps

drive sales and reinforces the company’s commitment to making a positive impact in the world.

The founders of Panda Sunglasses should define a unique selling proposition (USP) that

resonates with customers by focusing on three key aspects: social mission, eco-friendliness, and product
quality.
Social Mission: The most crucial part of Panda Sunglasses’ USP is its commitment to helping
others through its business model. For every pair of sunglasses sold, they provide an eye examination for
someone in need through their partnership with TOMA. This aspect should be highlighted in their

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
marketing campaigns to create an emotional connection with customers who want to contribute to a
socially responsible cause while purchasing. By emphasizing this aspect, the founders can differentiate
themselves from competitors and create a strong brand image.

Eco-Friendliness: Another unique aspect of Panda Sunglasses is their choice to use bamboo for
the frames, an eco-friendly and sustainable material. Bamboo grows fast, making it an ideal renewable

resource for environmentally conscious consumers. The founders should market their sunglasses as
“green” products that look stylish and help protect the environment by using sustainable materials. By

of eco-conscious consumers.

integrating environmental responsibility into its USP, Panda Sunglasses can tap into the growing market

Product Quality: Lastly, the founders should emphasize the high-quality polarized lenses and
stylish sunglasses design in their USP. The founders have ensured that their products are durable,

fashionable, and functional by choosing top-notch Chinese manufacturers for both the lenses and
frames. The fact that the sunglasses float can be an added advantage, especially for consumers interested

in water-based activities like swimming or boating. By showcasing its product’s superior quality and
unique features alongside its social mission and eco-friendliness, Panda Sunglasses can create a
powerful USP that resonates with customers (Ghafoorzadeh,2009).
3.

Subject: Bootstrap Marketing Plan for Panda Sunglasses
Dear Vincent Ko, Luke Lagera, and Mike Mills,

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
I congratulate you on the success of Panda Sunglasses so far. As you continue to grow and expand your
business, I am pleased to present a bootstrap marketing plan to enhance your brand presence further and
reach more customers efficiently.

Social Media Presence:
1. Utilize social media platforms like Instagram, Facebook, and Twitter for organic growth.

creates through providing eye examinations.

2. Share engaging content showcasing your sunglasses, brand values, and the impact your company

3. Collaborate with micro-influencers, including eco-friendly advocates and fashion enthusiasts, by
offering them product samples in exchange for reviews or promotions.
Content Marketing: Create a blog on your website with informative articles about sunglasses
trends, bamboo manufacturing techniques, and stories about the communities that benefit from your

partnership with TOMA. This will help drive organic traffic to your website and improve search engine
rankings while raising awareness about your social mission.

Local Events Participation: Take part in local events such as farmers’ markets, craft fairs, and

eco-friendly conferences where you can set up a booth to showcase and sell your sunglasses directly to
potential customers. Building personal connections in these environments will also create word-ofmouth referrals that can significantly increase sales.
Customer Referral Program: Implement a referral program that rewards existing customers for
introducing new people to your products. Offer discounts or services such as free shipping for the
referrer and referee as an incentive.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
Email Marketing: Build an email list of past customers and interested individuals by providing
a newsletter sign-up option on your website. Send regular newsletters featuring exclusive offers,
promotional discounts, or events to encourage repeat business.

Collaborate with TOMA: Leverage your partnership with TOMA by utilizing their network to

highlighting the social impact of Panda Sunglasses.

access new markets or promotional opportunities through joint events or co-branded campaigns

Craft an appealing brand story: Create and share a heartfelt brand story focusing on how you

are contributing towards environmental sustainability and providing eye care to underserved
communities (Piller,2023). Appeal to emotions by including real-life testimonials from those positively
impacted by your mission.

By implementing these cost-effective marketing strategies, Panda Sunglasses can continue to

financial stability.

build a strong brand identity and foster meaningful connections with customers, assuring growth and

Wishing you continued success.
Best regards,

[Your Name]
4.

Using the business model canvas, we can visualize Panda Sunglasses’ business model as follows:
1. Key Partners: Tribal Outreach Medical Association (TOMA), a Chinese wood shop for
making the frames, a Chinese eyewear manufacturer for polarized lenses

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
2. Key Activities: Designing sunglasses with bamboo frames, marketing sunglasses, providing
eye exams through TOMA partnership
3. Key Resources: Bamboo for frames, lenses, and manufacturing partners in China.

4. Value Propositions: Stylish sunglasses with eco-friendly bamboo frames and eye examinations
for those in need for every pair sold.

5. Customer Relationships: Building connections through trade shows and commitment to social
responsibility.

6. Channels: Online sales via their website and participation in trade shows like ENK
International.

7. Customer Segments: Environmentally and socially conscious consumers and potential buyers
at trade shows.

8. Cost Structure: Production costs for bamboo frames and lenses, shipping, operating costs of
the website, and attending trade shows.

9. Revenue Streams: Main revenue stream is sales of sunglasses at $120 a pair.
To identify other revenue streams that could support the company:
1. Sell other eco-friendly accessories or products that complement their bamboo sunglasses.
2. Collaborating with well-known designers or brands to create limited edition lines.
3. Offering customization options such as personalized engraving or various lens options at an

additional cost.
4. Licensing their bamboo frame technology to other eyewear companies.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
5. Implementing a subscription model where customers receive exclusive designs periodically
throughout the year.
To strengthen its relationships with customers:

1. Implementing a loyalty program that rewards customers with discounts or special offers based
on repeat purchases.

2. Engaging with customers via social media channels where they share stories of social impact
and customer experiences.

3. Proactively seeking customer feedback and implementing improvements based on their
suggestions.

4. Providing regular updates on the company’s progress and the impact of the partnership with
TOMA, showcasing their commitment to social responsibility.

5. Hosting events or partnering with environmentally-focused or charitable organizations to

further promote the brand’s values and build connections within the community that shares their mission.

The founders of Panda Sunglasses can effectively use social media for marketing their

company and its products by implementing the following strategies:
1. Share their story: The founders should share their journey, mission, and vision on various

social media platforms. Emphasizing their social entrepreneurship aspect – providing eye examinations
through the Tribal Outreach Medical Association (TOMA) for every pair sold – will resonate with
potential customers who value conscious capitalism.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
2. Engage with customers and influencers: By connecting with relevant influencers, such as ecofashion bloggers and ethical business leaders, on social media platforms, the founders can expand their
reach to a larger audience (Short,2022). They should also engage with customers by responding to

comments, answering questions, and sharing user-generated content featuring their sunglasses.
3. Publish visually appealing content: By posting high-quality images and videos of their

bamboo sunglasses in various settings on platforms like Instagram, Pinterest, and Facebook, they can
showcase the unique features of the product and attract more interest from potential customers.

4. Run targeted advertisements: The founders can run paid ads on platforms like Facebook and
Instagram to increase brand exposure to a broader audience who appreciate sustainable and sociallyconscious products.

5. Collaborate with like-minded brands: The founders can partner with eco-friendly and socially

responsible businesses in joint promotional campaigns and virtual events to increase brand visibility.
To increase traffic and generate more sales from their company’s website, Panda Sunglasses can:

1. Optimize the website for search engines (SEO): Using relevant keywords related to bamboo

sunglasses, eye care, sustainable fashion, etc., the founders can improve their website’s visibility on
search engine result pages.

2. Implement retargeting ads: Depending on visitor behavior on the Panda Sunglasses site,

retargeting ads can be set up across platforms such as Google Display Network or Facebook Ads to
remind them about the sunglasses they saw but didn’t purchase.
3. Offer exclusive promotions and discounts: To incentivize website purchases, the founders can
offer exclusive discounts or limited-time promotions for online shoppers.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
4. Create a blog: By creating a blog with valuable content about eco-friendly fashion, social
entrepreneurship, etc., the founders can increase organic traffic and establish themselves as leaders in
the niche.

5. Enhance user experience (UX) on the website: Panda Sunglasses should ensure that their
website is easy to navigate, visually appealing, and optimized for mobile devices to provide an engaging

shopping experience for customers.

References

Ghafoorzadeh, S. (2009). Customers’ Loyalty & Brand Experience: Branding Strategy to Successfully

Experience”.

Approach Consumers’ Minds and Promote Customers’ Loyalty: Generating the “Brand

Piller, L. W. (2023). Designing for circularity: sustainable pathways for Australian fashion small to
medium enterprises. Journal of Fashion Marketing and Management: An International
Journal, 27(2), 287-310.

Short, H. L. (2022). Exploring the Role of Social Media Influencers in Promoting Sustainable Fashion
on Twitter.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences

Assignment 2 MGT402 (3rd Term 2022-2023)
Deadline: 03/06/2023 @ 23:59
Course Name: Entrepreneurship and
small business
Course Code: MGT402

Student’s Name:

Semester: 3rd

CRN:

Student’s ID Number:

Academic Year: 1444 H (2022-2023)3rd Term
For Instructor’s Use only
Instructor’s Name:

Level of Marks: High/Middle/Low

Students’ Grade: /15

Instructions – PLEASE READ THEM CAREFULLY




This assignment is an individual assignment.
Due date for Assignment 2 is 03/06/2023

 The Assignment must be submitted only in WORD format via allocated folder.
 Assignments submitted through email will not be accepted.

 Students are advised to make their work clear and well presented; marks may be reduced
for poor presentation. This includes filling your information on the cover page.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
Entrepreneurship and small business
ASSIGNMENT -2

Critical Thinking

Students are supposed to read the attached Case -Panda Sunglasses. Based on your understanding of the
case and basic concepts of Entrepreneurship.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

1. Social entrepreneurship has become increasingly popular in recent years as consumers become more

socially conscious and aware of the impact businesses have on society and the environment. Social
entrepreneurs like the founders of Panda Sunglasses can use their social mission as a competitive

advantage to attract customers and promote their business.

One strategy that social entrepreneurs can use is to highlight their impact and the positive changes their
products or services can bring to society. For instance, Panda Sunglasses can emphasize their use of ecofriendly and sustainable materials in their product designs, which resonate with customers who care

about environmental sustainability. This can be a powerful differentiator against traditional sunglasses
brands that may not prioritize eco-friendly designs.

Another approach that social entrepreneurs can use is to create engaging marketing campaigns and
narratives that resonate with customers’ values and aspirations towards creating a better world. For
example, Panda Sunglasses can communicate their commitment to donating a portion of their profits to
charity organizations, which can inspire customers to feel good about their purchases while also
supporting a social cause they care about. This can create a sense of community among customers who
share a common social vision with Panda Sunglasses and can further boost brand loyalty.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
Moreover, the founders of Panda Sunglasses can leverage social media platforms to reach a wider
audience and interact with their existing customers. They can create content that showcases their social
mission, unique product features, and customer advocacy. Additionally, they can use social media to

answer customers’ questions, receive feedback, and build lasting relationships with customers. Social
media also provides an opportunity for social entrepreneurs to collaborate with like-minded

organizations and influencers, which can help them expand their reach and promote their mission.
In conclusion, social entrepreneurs such as the founders of Panda Sunglasses can leverage their social

mission to attract customers and promote their business by highlighting their impact, creating compelling
narratives, and leveraging social media to engage with customers and expand their reach. By doing so,
they can differentiate themselves from their competitors and create a loyal community of customers who

share their social vision and support their brand.

2. To define a unique selling proposition that resonates with customers, the founders of Panda
Sunglasses need to understand their target market and what their customers care about. They can
conduct surveys and research to identify their customer’s pain points or unfulfilled needs and create a
solution that aligns with their values and choices. Based on this, Panda Sunglasses can create a
compelling brand story that taps into the customer’s emotions and showcases how their products can
deliver unique value propositions beyond just sunglasses.
One approach Panda Sunglasses can take is to emphasize the design and materials of their products. As
noted in the case study, the sunglasses are made from sustainable bamboo and recycled materials, which

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
can appeal to customers who value eco-friendly and sustainable products. Emphasizing Panda
Sunglasses’ expertise in designing eco-friendly sunglasses and creating a range of styles that are
fashionable, functional, and sustainable can help differentiate them from other eyewear brands.

Panda Sunglasses can also focus on their company’s social mission and philanthropic impact. For

example, Panda Sunglasses donates a part of its profits to wildlife preservation charities. Their
commitment to social responsibility and sustainability can be emphasized in their value proposition to
appeal to consumers who care about making a positive impact through their purchases. This can create a

sense of community among customers who share their values, which can further boost customer loyalty
and advocacy.

Finally, Panda Sunglasses can also leverage customer feedback to refine and enhance their unique

selling proposition. By actively engaging with customers and soliciting their opinions and preferences,
Panda Sunglasses can assess their needs and tailor their products and messaging to better align with

customers’ values and expectations. By doing so, they can create a more personalized, customer-centric
value proposition that resonates with their target market.
Overall, defining a unique selling proposition that resonates with customers requires an understanding of
customers’ needs, preferences, and values. Panda Sunglasses can leverage their sustainable materials,
philanthropic impact, and customer feedback to create a compelling value proposition that distinguishes
them from their competitors and creates a loyal community of customers.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
3. Dear Founders of Panda Sunglasses,
I’m writing to provide you with a cost-effective marketing plan for your brand that will help boost sales
and increase brand awareness. Please find below the key strategies I recommend for your bootstrap

marketing plan:

1. Develop a Strong Social Media Presence – Social media is a critical tool for any e-commerce
business, and Panda Sunglasses is no exception. Make use of Instagram, Facebook, Twitter, and

Pinterest to establish a robust following and interact with clients by sharing high-quality product images,
lifestyle photographs, and behind-the-scenes content.

2. Utilize Influencer Marketing – Identify appropriate influencers in the eco-friendly and sustainability
arena who share your brand’s principles and give them a free pair of Panda Sunglasses in exchange for a

review or social media post. This approach can aid in expanding your reach to new audiences and
developing trust among prospective customers.

3. Collaborate with Non-profits – As a socially and environmentally conscious brand, partnering with
non-profit organizations is an excellent way to build trust and give back to the community. Consider
collaborating with charities such as The Ocean Cleanup or WWF and allocating a portion of the
proceeds to their initiatives.

4. Host Contests – Hosting contests is an excellent way to encourage customers to interact with your
brand and increase brand recognition. Host photo contests on social media and provide free sunglasses
or other branded items as awards.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
5. Partner with Other Brands – Collaborating with other sustainable fashion brands can help increase
your reach and build brand recognition. Consider partnering with eco-friendly clothing or accessory
brands and organizing a giveaway or joint campaign.

I firmly believe that executing these strategies will increase brand recognition and drive revenue while

remaining cost-effective. Please let me know if you have any questions or require further assistance.

Sincerely,

4. As per the canvas, the company’s main revenue streams come from the sale of its eco-friendly and
sustainable sunglasses to customers through its e-commerce platform.

However, it can explore other revenue streams such as:

1. Wholesale: Selling its products to distributors, retailers, and other businesses that align with its
values.

2. Subscriptions: Offering subscription options where customers can receive a new pair of sunglasses
each month or season.

3. Licensing: Expanding the brand by licensing its name and designs for use in other products such as
clothing, accessories, or home décor.
To strengthen its relationships with customers, Panda Sunglasses can:

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
1. Offer Excellent Customer Service: Providing excellent customer service and responding to customer
inquiries promptly can build trust and loyalty with customers.
2. Personalize the Customer Experience: Using customer data to personalize the shopping experience

can help make customers feel valued and understood.

3. Social Responsibility: Emphasizing Panda Sunglasses’ commitment to social and environmental
responsibility through partnerships with non-profit organizations or other social initiatives can help

customers feel good about purchasing from the company.

4. Community Building: Creating an online community for customers to share photos, reviews, and tips
can foster a sense of belonging and loyalty among customers.

Overall, Panda Sunglasses’ commitment to sustainability and social responsibility should continue to be

at the forefront of its business strategy as it seeks to expand its customer base and revenue streams.

5: The founders of Panda Sunglasses can use social media to market their company and products in
several ways. Here are a few suggestions:
1. Create visually appealing content: Panda Sunglasses can leverage social media channels such as
Instagram, Facebook, and Pinterest to showcase their sustainable and trendy collection of shades. They
can create visually appealing posts that highlight the features of their products and resonate with their
target audience.

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
2. Run targeted ads: Social media channels allow businesses to run targeted ads based on interests,
demographics, and behaviour. Panda Sunglasses can create targeted ads to reach potential customers
who are interested in eco-friendly products and are likely to be interested in their sunglasses collection.

3. Collaborate with influencers: The founders of Panda Sunglasses can collaborate with influencers who

align with their brand’s values and have a significant following on social media. Influencers can post
about Panda Sunglasses products and share discount codes with their followers, which could drive

traffic and sales to the site.

To increase traffic and generate more sales from their company’s website, Panda Sunglasses can
implement the following strategies:

1. Optimize website content: Panda Sunglasses can optimize website content for search engines using
SEO (Search Engine Optimization) techniques. They can include relevant keywords in their website’s

content and metadata to appear higher in search results.
2. Offer promotions: Panda Sunglasses can offer promotions to customers visiting their site, such as
discounts or free shipping. This is an excellent way to incentivize potential customers and encourage
them to make a purchase.

3. Provide personalized experiences: The founders of Panda Sunglasses can collect data from customers
and use it to provide personalized experiences such as targeted emails and product recommendations

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences
4. Speed up website load times: Slow website load times can deter customers from making a purchase.
Panda Sunglasses can speed up their website’s load times by optimizing images, website code, and

leveraging caching mechanisms.

References:

Scarborough, N.M. & Cornwall, J. (2015). Entrepreneurship and effective small business
management (11th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN: 9780133506327 (print);
9780133508239 (e-text).

–

Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing: Strategy, implementation and
practice (7th ed.). Pearson.

–

Kietzmann, J. H., Hermkens, K., McCarthy, I. P., & Silvestre, B. S. (2011). Social media? Get
serious! Understanding the functional building blocks of social media. Business Horizons, 54(3),
241–251.

–

Hoffman, D. L., & Novak, T. P. (2018). Marketing in the age of Alexa. Business Horizons, 61(4),
561-569.

–

O’Connor, L., Frew, A. J., Harwood, T., & van der Heijden, H. (2016). Search engine optimization:
A review of the literature. International Journal of Management Reviews, 18(4), 492-512.

–

Based on Nancy Dahlberg, “Start-up Spotlight: Panda,” Miami Herald, June 29, 2014,
.miarniherald.com/2014/06/29/v-print/4207736/startup-spotlight-panda.html;
Olga
Khazan, “Panda Glasses

–

Are TOMS Shoes for Your Face,” Washington Post, May 24, 2012,
.washingtonpost.com/blogs/on-small-business/post/panda-glassesare-toms-shoes-foryour-face/2012/05/23/gJQAsOPhlU_blog.html;

–

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences

‫المملكة العربية السعودية‬
‫وزارة التعليم‬
‫الجامعة السعودية اإللكترونية‬

Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University

College of Administrative and Financial Sciences

Assignment-2
MGT 402-Entrepreneurship and small business
Due Date: 11/11/2023 @ 23:59

Course Name: Entrepreneurship and
small business

Student’s Name: SEU ELITE

Course Code: MGT402

Student’s ID Number:

Semester: First

CRN:
Academic Year: 2023-24

For Instructor’s Use only
Instructor’s Name:
Students’ Grade:

/ 10

Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented; marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.

• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students
or other resources without proper referencing will result in ZERO marks. No
exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced)
font. No pictures containing text will be accepted and will be considered
plagiarism).
Submissions without this cover page will NOT be accepted
• Place of Submission is Blackboard.
• Weight 10 Marks

Learning Outcomes:
1. Describe the place of small business in history and explore the strengths and weaknesses of
small business.
2. Design a solid projected financial plan and conduct a breakeven analysis for a small company.
3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner.
4. Illustrate the ability to think independently and systematically on developing a viable business
model.
Assignment Workload:
This assignment is an individual assignment.

4. Use the business model canvas to illustrate Panda Sunglasses business model. Can you identify
other revenue streams that could support the company? How can the company strengthen its
relationships with customers? (2marks)
5.How should the founders of Panda Sunglasses use social media to market their company and its
products? What can they do to increase the traffic to and generate more sales from their
company’s Web site? (2 marks)
The Answer must follow the outline points below:
• Each answer should be within the range of 300 to 350-word counts.
• Reference
Note: You can support your answer with the course book.
You can use secondary sources available on internet.

ANSWERS:
1. Social Mission
A social mission is a responsibility that an organization uses to benefit society and the
environment while improving the economy. It’s a vision that a company has in place to show that
they are doing good and giving back to society. Consumers often view this as a positive trait and
often want to associate more with companies that have good social missions. An example is
provided in the case of the company TOMS Shoes which donates a shoe for every pair bought to
an individual in need. Therefore, consumers were excited based on the fact that they knew for
every pair they bought they were helping one person in need. This positive feeling is often essential
in improving sales by attracting consumers to a particular brand. As a young company trying to
navigate the market, Panda Sunglasses has to focus on its social mission of making sunglass frames
from eco-friendly products and also providing eye examinations to a needy person for every
sunglass bought. Even though they copied the same mission that TOMS used, Panda Sunglasses
maintained a unique approach to their corporate social responsibility which was to make the world
a better place through eye examination and protection of the environment (Lin et al., 2021).
Most sunglasses use plastic which is a huge problem to the environment and thus to use of
eco-friendly products such as bamboo has been effective in improving company sales. Consumers
often respond positively to this social mission because they believe that companies have a
responsibility to do good to the environment and the consumer. The founders of Panda Sunglasses
can therefore use social missions to attract consumers by spreading the message that they are
aiming to improve the environment and thus do good. Social missions are essential because they
drive organizations to make profits and thus allow them to focus on providing a better environment

to consumers. The founders of Panda Sunglasses have therefore created an environment where
their consumers feel good whenever they purchase their sunglasses because they know they are
made out of eco-friendly products that will not destroy the environment like plastics do.
2. Unique Selling Proposition
A unique selling proposition is the element that makes a product better than its competitors.
While selling a product companies have to understand that they compete with other businesses and
the best way to attract consumers is to allow them to have a different taste of the product than they
have with competitor products. For example, the Almarai dairy organization in Saudi Arabia has
a unique selling position in that it is a company that offers a wide variety of products developed
from cow and camel milk. Consumers within the Middle East region therefore understand that they
can get a wide variety of milk products such as cheese, yoghurt, and ghee from Almarai than they
can get from other companies. A unique selling proposition is a guarantee that consumers will get
a different experience using a product than they would using another product. The founders of
Panda need to focus on the fact that they use eco-friendly frames and that any sunglass bought
pays for an eye examination (Panasenko et al., 2021).
Using social media the company’s founders can spread the word to consumers that whenever
they use panda sunglasses they are using a product made out of an eco-friendly material and thus
competitors are not able to offer the same feeling. This unique selling point is essential for panda
consumers since it allows them to have a different feel of the products than they would if they
purchased sunglasses made out of plastic frames. Panda is therefore able to beat its competition by
focusing primarily on ensuring that consumers understand that their products are beneficial to the
environment. This gives consumers a positive feeling that they are contributing to the protection
of the environment from degradation. The company will continue attracting consumers using this

unique selling position by marketing it so that consumers understand how beneficial the product
is to the environment.
3. Bootstrap Marketing Plan
Bootstrap in marketing is when a company applies a minimal budget to promote a product.
The first step the company needs to take in implementing a minimal budget is focusing on the
expenses that the business is expected to incur. The main resources used to make the sunglasses
include bamboo and lenses. Outsourcing is one of the main ways in which the company has
lowered its expenses but it can go an extra mile to use cheaper and more durable products that are
eco-friendly. Minimizing the expenses incurred in the raw materials such as the cost of bamboo
and lenses would be essential for the company to lower their overall expenses. The company
worked to obtain a Chinese firm ready to make bamboo for them but it can also focus on sourcing
another firm to supply bamboo or increase the amount of bamboo they obtain from the first they
use currently. Having more than one firm supplying bamboo creates competition which assists in
lowering prices but the same can be achieved through ordering in bulk which would allow the
Chinese firms to set lower prices for their raw materials (Jin et al., 2019).
Focusing primarily on the expenses incurred after purchasing raw materials for the product is
the main way in which the company can minimize its budget. Panda Sunglasses can therefore focus
on ways in which it can obtain bamboo frames and lenses at a lower cost which will lower their
outsourcing budget and thus increase profits. A key way in which Panda can achieve this outcome
is by outsourcing to more Chinese firms and thus getting lower prices for the raw materials they
need because they will be creating a competitive environment in which Chinese firms have to
compete. An additional, way in which the company can lower its budget is through the automation

of most of its activities thus reducing the need for workers in most stages and thus cutting back on
wages.
4. Business Model
A business model is a strategic plan on how a company will make money. Panda Sunglasses
has an interesting business model since it rallies around consumers purchasing sunglasses that are
made out of eco-friendly products such as bamboo. By converting this eco-friendly material into
products that consumers can use, Panda is effectively creating value that consumers can use and
also protect the environment. This means that just like TOMS, Panda Sunglasses is primarily
relying on its social mission as the main way in which it can make money from consumers. TOMS
has used this business model and has been successful over the years in making money. Panda is
also using its social mission to convince buyers to purchase sunglasses from them and thus make
profits from this venture. However, to assist in boosting their income, Panda can also focus on
other revenue streams. Since sunglasses are considered to be accessories, Panda can focus on
making other accessories using eco-friendly products. For instance, by using eco-friendly products
such as bamboo, Panda can also include watches and necklaces that consumers can wear. Focusing
on improving its revenue streams can be accomplished by introducing other products that
consumers can use and still have the same feeling created while purchasing Panda sunglasses
(Casadesus & Ricart, 2011).
The main aim for Panda has to be to preserve its unique selling proposition. This is essential
because the company has to maintain a unique selling point that will allow its products to still feel
different from the products offered by competitors. Any other products that Panda sets out to sell
need to use the same model that allows the company to market them based on their social mission.
This means that selling accessories such as watches and necklaces using eco-friendly products

would be a positive marketing campaign that will attract consumers and thus strengthen its
relationship with consumers through constant engagement in marketing.
5. Social Media
Social media has been a major tool for marketing for most companies since they use its
popularity to market their product and services. Most consumer markets can be contacted or
reached out to through social media and thus organizations have realized that such avenues create
an opportunity for sales to increase. Panda can use social media to appeal to the target market that
their products are eco-friendly and thus consumers can take up the responsibility to protect the
environment. Creating this sense of responsibility to consumers will increase awareness through
social media that the company is doing well for society. The company can therefore spread its
business model and social mission on social media. The best way to strengthen the relationship
with consumers is through constant communication and thus other avenues have proven to be
expensive and yielded little returns. However, social media has proven to be the most effective
avenue that organizations can use to promote the presence of their products to the target market
(Bhanot, 2012).
Increasing website traffic involves having more individuals searching the internet for a
company. The first way in which the company can increase traffic is by having promotions that
consumers can obtain after visiting the website. Promotional products such as free sunglasses that
can only be obtained after unlocking a QR code on the company website are one of the main ways
in which the company can attract more people to its website. Creating an opportunity in which
consumers can win prices by interacting on the company website is an effective way to increase
traffic. The second way in which the company can attract more people to its website is through the
use of endorsements. Using influencers and celebrities is a great way in which companies can

attract more consumers. The same model can be applied to the company as they can use
endorsements as the main way in which they can attract more individuals to their website (Jin et
al., 2019).

References
Scarborough, N., & Cornwall, J. (2014). Entrepreneurship and Effective Small Business
Management. Prentice Hall.
Bhanot, S. (2012). Use of social media by companies to reach their customers. SIES Journal of
Management, 8(1).
Casadesus, R., & Ricart, J. E. (2011). How to design a winning business model. Harvard
business review, 89(1/2), 100-107.
Jin, S. V., Muqaddam, A., & Ryu, E. (2019). Instafamous and social media influencer
marketing. Marketing Intelligence & Planning, 37(5), 567-579.
Lin, Y. H., Lin, F. J., & Wang, K. H. (2021). The effect of social mission on service quality and
brand image. Journal of Business Research, 132, 744-752.
Panasenko, S. V., Cheglov, V. P., Ramazanov, I. A., Krasil’nikova, E. A., Stukalova, I. B., &
Shelygov, A. V. (2021). Improving the innovative development mechanism of the trade
sector. Journal of Advanced Pharmacy Education & Research| Jan-Mar, 11(1), 1051847.

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