Entrepreneurship Assignment 01, ZAKRIA..

SUBMITTED BY: SYED ZAKRIA IRTAZA
SUBMITTED TO: MR. MOHSIN BANDEY

SUBJECT: ENTREPRENEURSHIP
ROLL NO: 11
CLASS: BBA (6TH)
SESSION: 2017-2021
DEPARTMENT OF MANAGEMENT SCIENCES
4.1
ANSWER 01
Kazoo & Company business plan was to not try to be like Wal-Mart or Toy “R” Us. But, Nelson
set out to build a business that would offer unique products and services to its clientele. Nelson is
thinking about not to compete with supercenter but how to create something new to fulfill what
the customer’s needs and wishes. The Kazoo & Company prefer to sell unique items like Gotz
Dolls from Germany and a wide range of educational toys. In order to make strong relationship
with the vendors, she understands about what to buy and what to buy for her store. The impact
when Nelson was focusing on those kind of specific things for her business, it has the possibility
that she will ignore a bit about the customers service. Nelson in the Kazoo & Company has
provide such a good customers service for the customers. The time she spend for thinking about
those things will sometimes make her forget about her customers and about the “educational”
points in her products.
ANSWER 02
Yes, she could have convinced the investor. It wasn’t easy for her to get the money together to
close the deal. The competition in the market was very strong (Walmart, Toy “R” Us, Target,
Amazon etc).
Entrepreneur’s level belief on business plan is crucial particularly in the first 4 years. As 33% of
business fail in the initial phase, therefore a strong belief to the business plan is required and
important and a must.
Investors, employees and staff needed to believe that the business plan would work.
ANSWER 03
Service Oriented Store, located in Denver, Colorado.
The mission statement of Kazoo & Company states that “Kazoo toys and Kazoo & Company
offer a truly unique toy shopping experience. We know our toys, we know your kids and we love
good customer service. We remain dedicated to providing the best possible tools for your child’s
healthy play”.
Kazoo & Company established by Diana Nelson in 1998. Kazoo Toys is among 500 American
fastest growing company. They differentiate from the large retailer. Toys R Us or Walmart helps
customers to pick the most suitable toys for their children, allows therapist or speech therapist to
bring their patients along with them, pays attention closely with all the customer for future
experience.
ANSWER 04
Drop shipping is a supply chain management technique in which the retailer doesn’t keep goods
in stock, but instead transfer customer orders and shipment details to either the manufacturer or a
vendor who then ships the goods directly to the customer.
Advantages are to save money, reduce inventory management, strengthen relationship between
Kazoo and its vendors, easy manage inventory stock, eliminates some duplication of effort.
The risk factor in this is that back ordering can be happened.
4.2
ANSWER 01
The company has good offerings to increase its user number and are given below:
 Yelp providing Google map for searching the favorite local business.
 We got enough information that we need for any restaurant.
The company is now working in many countries and they are spreading their business in other
countries too. If company gives its services in Bangladesh, then it should be said, “Yes! Several
times”.
ANSWER 02
 People normally ask their friends for a recommendation about a restaurant, any shop or
parlor which they are looking for.
 One had ever created such a website that help people to get available recommendation by
friends.
 Request and recommendation provided by mail.
The revised plan of Yelp is:
 Dropped the email your friend’s idea.
 Give a platform for people who write reviews of local business from their own
interest.
 The website itself was also redesigned.
Comparison of Yelp is:
 People have to sign up first for using this service.
 Users have facilities to upload their photos.
 It is free in both plans.
 The name Yelp is same in both plan.
The contrast of Yelp is:
INITIAL PLAN REVISED PLAN
The color of website was masculine gray The color is more feminine than initial.
and blue.
Recommendation by email. No email system for recommendation.
ANSWER 03
 The founders of Yelp decided not to pay for reviewers. They wanted their site to be built
by people who simply wanted to share their experiences.
 To follow the craigslist model and build Yelp city by city.
 Add credibility to their site with the idea of requesting reviewers to profiles.
 They also decided to make Yelp fun to connect with their users.
 Bring favorable review to the top and negative to the bottom.
 Post a message for owner.
ANSWER 04
 To start their business nationwide at once, they needed a big budget. They had to take big
amount of loan.
 We can see that by following craigslist model and build Yelp city by city. But with this
model, they are also now under profitability. Yelp is not currently profitable.

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SUBMITTED BY: SYED ZAKRIA IRTAZA

SUBMITTED TO: MR. MOHSIN BANDEY

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