enterpunership

SECTION 2: Situation-based Questions (40 MARKS. 10 MARKS EACH) (Answer the question in 6-7 lines) Assume you are an entrepreneur coach in an incubator. Read the situations given and provide advice to them. Also provide strong logic for you're the advice that you are giving them 1. Kareem Khan has just retired from his job at the age of 60 years. He now wants to start the venture and run it successfully. His friends however think that he is too old for this venture, which confuses Kareem. Give advice to Kareem Khan. 2. Salim's father wants him to join the family business right after he finishes his schooling. Salim wants to pursue further education and study business before joining the family business. Salim's father believes that Salim can learn business through practical experience better, rather than through academic pursuits. Discuss whether you agree or disagree with Salim's father. Justify 3. 'Entrepreneurs are gamblers' - This is what 22-year-old Rehman believes who has started a coffee shop business. He is taking huge risks when it comes to loan borrowing, expansion of his business etc. that many feel is too much too soon. However, Rehman believes entrepreneurial journey is a high-risk, high gain game and one has to take big risks if one wants to grow fast. As a mentor to Rehman, give him some advice. 4. Kashif has recently started a readymade garment business. He has made no profits in the first two years. However, by the end of second year he has been able to break-even. Kashif, however, is very disheartened at not being able to make profits. He is planning to exit the business and Page 3 of 4