Starting up a Business Club
Name:
Institution:
Executive Summary
The proposal focuses on outlining different
aspects of starting up a business club in college. The description of the club
illustrates the hierarchy, its aims and objectives as well as the
targets set. Requirements give a guideline on what is needed to make the
business club a success. The proposed solution indicates the strategies that
should be implemented to solve the problems, which may arise in starting the
business. There are various benefits to be achieved from
starting up a business club, as it will be discussed in that section.
Introduction
In a global community where economic recovery is an important aspect, the younger generation should be given a platform through which they are provided with important information on the venues that can be used to become well-seasoned entrepreneurs. A business club enables the students to create business plans and get proper advice on how to make it a reality. There are various strategies taught in regards to business. They include writing up business plans, approximating costs and establishing a network where business ideas can be shared by the club members. The introduction of business clubs has prompted universities to offer entrepreneur programs and centers, positively contributing to fulfilling of the functions of the club.
Description
Business Club Name:
Business Club Chair person:
Business Club Start Date:
Business Club Start up Deadline
A Business Club is a group of individuals who share a similar vision in terms of entrepreneurship. It provides an environment where ideas can be shared between the members enabling them to learn from each other. It is well organized and communication used is professional. The club conducts events and meetings, which brings students from other colleges together. It comprises of members from the same college. They are tasked with the responsibility of scheduling meetings. The meetings held are essential as they provide a format to present innovative and creative ideas from the members. There is usually a membership fee contributed used to purchase any material required by the club. The relationships created are further strengthened by meetings held weekly, or monthly depending on the flexibility of the time schedules of its members. The club is usually looking for new means to develop itself and the members further.
The Requirements/ Procedure
The procedure used in setting up a business club involves various processes. Prior to creating the club, a program should be selected. This is to ensure the approach used is distinct and unique to the university. Considering the university is in Saudi Arabia, the program chosen has to be in line with those offered by universities in the region. The program chosen is the Creativity and Leadership. As indicated by the name, it suggests it is a multidisciplinary program. It relates with the geographical position of the college. Saudi Arabia is a trade center and any businesses set up in the region have to be creative, innovative and properly managed to ensure success. The program is about creativity and leadership, which translates to innovative ideas and proper management.
The second requirement is support. This can be attained from the faculty involved with clubs in the university. Support is crucial as it validates the formation of the club and convinces potential members to join. In every campus initiative set up, its success is guaranteed by the support it receives. The professors in the Finance and Business departments can guarantee to support the club incase the club faculty is unavailable.
The third part requires the members to establish a support system, the mission of the club and its registration thus making the club of official. During this process, the club members should also seek funding from the college. They should also focus on developing a mission statement and a vision. Performing these tasks means that they should create a business plan for the specific idea they have selected . The involvement of the alumni, organizations and faculty is also beneficial to the business club, its funding and activities. The main concern is that the club should not focus on getting immediate results but rather take it as a progressive process.
The last process is implementing the actions, which will enable the club to achieve its mission. This can range from coming up with s design to set up the business not yet ventured by other students. Utilization of opportunity, resources and people is crucial in ensuring the success of the business club and the venture pursued.
The Benefits
There are various benefits, which can be derived from starting up a business club. During the meetings which are held by different speakers and creating a network, they members are able to
- To raise their business profile
- Have a platform through which new businesses can be started increasing the numbers of ventures available.
- Create new techniques, skills and thought process that will earn them profits.
- Develop important business relationships with like minded individuals increasing the overall productivity of the club
- Engage manufacturers’ and suppliers who might be present in the meetings or the network.
- Develop their businesses and their employers. The students in the club might have their own small business they run in or outside the college. The business club provides resourceful information, which nurtures business ideas of the owner, which in turn applies, to the staff.