Individual Assignment of Deepak Bhatia (EMBA10) Roll Nbr EWD10014What Entrepreneur must know about MOTIVATION SKILLS

1. Definition / Brief Description: To get people to move in a particular direction a manager has to use motivating skills. This is done by offering rewards and recognition for achieving goals. This could be either in the form of personal growth or some type of bonus or reward. The goals are set and feedback provided on performance. Guidance and training to people is given to improve their skills and to help them develop their careers.

2. Importance & Relevance for Entrepreneurs:

Winning customers is what it has always been the importance and relevant for Entrepreneurs Relevance is at the center of the customer’s buying decision. Market and customer relationship is importance of relevance to getting the outcome the Entrepreneurs desire. Entrepreneurs that are succeeding in the marketing right now are focused on strengthening customer relevance first by methodically and systematically understanding the full customer needs, and demonstrating total commitment by building an offering that meets every aspect of that need completely.

Entrepreneurs who have relevant knowledge of the product they are dealing are in advantage because they know what they are selling to their customers.

3. Related theory: Nil

4. General Examples / Cases / Diagrams:

At age 18, Shawn Nelson was watching TV on the couch when he decided "a huge beanbag thing" might be more comfortable. He bought 14 yards of vinyl, cut it into a baseball shape, and spent three weeks filling it with anything soft he could find. The finished LoveSac was 7 feet wide, and everyone who saw it tried it out--and loved it.

When neighbors started placing orders, Nelson decided to start his company almost as a joke. With free help from his friends, he made the LoveSacs in his parents' basement and sold them at trade shows, events and even the drive-in. Business was moderate at best, until he got a call on his cell phone that changed his life: a quarter-million-dollar order from Too Inc., which was looking for a back-to-school offering for its Limited Too stores. "I answered the phone and said, 'Twelve thousand LoveSacs? Sure, no problem. That's what we do; we're the best in the world at it,'" remembers Nelson.

Undaunted, Nelson amassed $50,000 in credit card debt building a factory. He worked 19-hour days and slept at the factory. "It nearly broke me emotionally, physically, mentally," Nelson says. "My hands were cracked and bleeding. We

finished the order [for Too Inc.] but ate up all our profits." Just when things seemed darkest, a deceptively simple idea presented itself: Open a mall store. Not just any store, but one designed from the beginning to look like an upscale chain--even before it was a chain. It paid off: With some 55 stores, about half of them franchised, LoveSac is looking at sales topping $30 million this year.

5. UAE specific example:

Kimoha Entrepreneurs Limited, an ISO 9001:2000 company, has achieved many milestones since it launched its operations in Jebel Ali Free Zone, Dubai.

Kimoha started with the aim of producing paper stationery for office equipment. After 19 years of relentless performance and commitment to excellence, Kimoha has acquired name synonymous to quality and prompt service.

Kimoha initiated with Emigo thermal facsimile rolls, carbonless telex rolls and cash register rolls and later diversified the product line to more specialty products like printed ATM rolls, printed industrial labels, security labels, air baggage tags and inkjet paper products for the sign industry and visual media.

Timely diversification and support from a well-trained team in each product line are the driving force behind the steady growth of Kimoha.

After achieving ISO 9001:2000 certification in the year 2003, we vouch for the continuing commitment to the quality of our products, creativity, customer-care and better services by employing the best engineering practices, controlled processes and by meeting international standards to fulfill our customer’s implied needs.

Ability to provide customized services has earned us an enviable position in both local & international markets.

Having established ourselves in the field of paper stationery, we have ventured into trading and supply of telecommunication accessories, building materials, kitchen and laundry equipment, swimming pool water treatment chemicals and irrigation equipment on a turnkey basis.

6. Other related topics to read further: Nil

7. References used:

www.entrepreneur.comwww.kimoha.com/

8. My picture:

3-line Description To become an Entrepreneur we have to be dedicated and focused to the goal we strive for and to learn from the mistakes we make during decision making in the business. Entrepreneur has to think strategically to achieve the goals. Entrepreneurs have to be good networkers in order to have a better relationship which in turn will have a good effect on the business.