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Total Marks	5
Starting Date	Monday, May 13, 2024
Closing Date	Friday, May 17, 2024
Status	Open
Question Title	Business idea vs opportunity
Question Description	Prepared By:  Jawad Hassan SEMESTER SPRING 2024 Entrepreneurship (MGT602) Graded Discussion Board No.1 Due Date: May 17, 2024 Marks: 5 Topic: Difference between a business idea and an opportunity Learning objectives: The objective of this activity is to make students know about the basic difference between a business idea and an opportunity. Learning outcome: Students will learn to identify the factors that hinder the transformation of a business idea into a viable opportunity. Background Concept: While studying entrepreneurship we observe a conceptual difference between an idea and an opportunity. An idea is something conceived in the mind, a thought or notion. It may or may not qualify as an opportunity. In contrast, an opportunity must meet specific criteria of attractiveness, endurance, timing, and value addition. Scenario: It's the morning of April in 2024. Kashif (a jobless skilled tire mender) is seated outside the medical hospital cafeteria. He overhears two gentlemen conversing about Akhbaar-Chowk, a newspaper distribution center in the midst of the city, where hundreds of hawkers used to come on bicycles daily at dawn (the first hour of the day before daybreak) to pick up newspapers in the mid-90s. Listening to this and assuming so much bicycle traffic he idealizes this situation as a business opportunity and gets inspired to open a bicycle tire repair shop outside of Akhbaar-Chowk. As an entrepreneurship student, I believe that this temptation of Kashif will only last as an idea and will not likely turn into a legitimate/profitable business opportunity. Requirement: Do you agree with my stance? Give four arguments either supporting or opposing it.   Note about the argument and the marking scheme: You need to write only four points to clarify your argument. 1.25 Marks for each point = 5 Marks Craft your answer in the light of the concept of opportunity criteria (attractiveness, endurance, timing, and value addition). Student’s Guide Keep your discussion with the mentioned scenario and irrelevant answers and material will not be graded.  Be careful from those blogs who are promoting cheating culture among our students and killing their creativity and critical thinking. Answers copied from such blogs will be straightaway marked as zero. Similarly any relevant or irrelevant material copied from internet sources will get the same treatment. It can seriously damage your grades. Note: For acquiring the relevant knowledge, do not rely only on handouts but also watch the course video lectures and read additional material available online or in any other mode. Important Instructions: Your discussion must be based on logical facts. The GDB will open and close on above specified date and time. Please note that no grace day or extra time will be given for posting comments on GDB. Use the font style “Times New Roman” and font size “12”. Your answer should be relevant to the topic i.e. clear and concise. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course. Books, websites and other reading material may be consulted before posting your comments; but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0) even if you provide references. You should post your answer on the Graded Discussion Board (GDB), not on the Moderated Discussion Board (MDB). Both will run parallel to each other during the time specified above. Therefore, due care will be needed. Obnoxious or ignoble answer should be strictly avoided. You cannot participate in the discussion after the due date via email. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over. For planning your semester activities in an organized manner, you are advised to view schedule of upcoming Assignments, Quizzes and GDBs in the overview tab of the course website on VU-LMS. Note related to load shedding: Please be proactive Dear students, As you know that Pre Mid-Term semester activities have been started and load shedding problem is also prevailing in our country. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs. Good Luck

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