BMO6622 - Managing Innovation & Entrepreneurship: Mahmud's Report

This report examines the entrepreneurial journey of Mahmud, a Saudi Arabian businessperson in the solar panel industry, who founded Saudi Solar Vibes. The report details the inception of the business idea, driven by the growing use of solar energy, and the initial evaluation process that involved gathering feedback from potential clients. Mahmud's business was financed through bank loans, personal savings, and contributions from friends and family. The report highlights Mahmud's entrepreneurial skills, such as self-discipline and focus, which were crucial for the business's growth. It also addresses the challenges faced, including market penetration, and the strategies employed to overcome them, such as expanding the customer range and utilizing social media advertising. The report emphasizes Mahmud's resilience and adaptability in managing his business, as well as his vision for expanding the business to neighboring countries. The provided marking guide and interview template show the assignment's requirements and evaluation criteria.

Managing Innovation and Entrepreneurship 1
MANAGING INNOVATION AND ENTREPRENEURSHIP
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Professor’s name
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Report on Mahmud’s Business

Managing Innovation and Entrepreneurship 2
Mahmud is a Saudi Arabian businessperson who deals with solar panels. His enterprise
goes by the name Saudi Solar Vibes. The name was as an inspiration based on the positive
effects the sun in our day to day lives. Mahmud settled for the solar power business because of
the fast growing use of solar energy within the country. Additionally, solar panels do not emit
any hazardous fumes thus promoting a safe surrounding for human and animal life.
After developing the business idea, Mahmud conducted an evaluation. The aim of doing
the assessment was to determine the likelihood of his business to grow. Talking to his target
customers played a significant role in the making the idea a reality. From the responses received
from his potential clients, Mahmud was able to do a few analysis and made necessary changes to
his enterprise project. With the few adjustments and the chosen product, Mahmud later opened a
shop and started growing the solar business.
To start up his business, Mahmud applied for bank loans which he topped up with his
savings. Additionally, he received contributions from friends and family. Mahmud got his
product to the market by controlling his current clients, talking to more customers and through
social media advertisements.
Mahmud’s short-term goal after initiating his enterprise was to bring in a revenue of
about 8% by the end of three months. On the other hand, his Long-term goal was to raise the
profit margin to 10% by the end of the year. The business took around one year for it to be stable
and bring in enough revenue. His family and friends played a significant role in the development
of his business.

Managing Innovation and Entrepreneurship 3
For Mahmud’s solar business to grow he exercised very crucial entrepreneurial skills like
self-discipline, focus, accountability, and self-respect. His ability to manage people enabled him
to run the organisation efficiently. The enterprise’s vision of bringing in more revenue at the end
of the fiscal year was a motivating factor that got Mahmud, and his employees focused all the
time.
Despite the progress at Saudi Solar Vibes, Mahmud’s business was not inevitable of
challenges. The firm experienced a problem of market penetration. To manage this challenge he
had to expand his customer range. He also promoted his solar panels through other advertising
channels like video blogs and Facebook.
Mahmud embraces business failure by learning from the mistakes. According to him
shortcomings encountered in businesses provide an avenue for making adjustments in the
industry to prevent future problems. Resilience, self-respect, reliability, and accountability
played a significant role in helping Mahmud cope with his employees, other businesspersons,
and clients.
Optimizing the e-mail, and boosting his social media content enables Mahmud to be
efficient in his day to day business activities. Mahmud’s enterprise has managed to grow
immensely and has new shops within the country, and he is looking forward to expanding the
business to the neighboring countries. But he still needs to broaden his customer range.