Lesson in Management “Plan your Profit”

“ A Case Study on Annual Food Festival 2008”

If we go by the feed back
Year 2006: Food sale was not even at Break Even
Year 2007: Food sale was at Break Even
Year 2008: Break Even Crossed with good scope for Profitability. Which can be increased in many folds in future?
Year 2009?
The initial feed back & responses was very disheartening, that students are not keen to operate/ display food stalls in Annual Food Festivals on the occasion of college annual day on 7th March 2008.
It was showing that as if we are a failure in training the managerial skills and in building successful entrepreneurs. Apprehensions from the students were some how genuine. But I will advise all that we should believe in our self and in our efforts. And accordingly should make strategies for the success. It was really a tough challenge to keep students motivated. But one thing is clear that to run a running business with definite volume is not a challenging assignment but decision to start a business from scratch and achieving success as desired is definitely a marvelous story.
One can not be successful unless he is a risk taker. Taking risk with application of mind is known as “strategist”.
DO YOUR BUSINESS THE WAY YOU WANT IT TO RUN.
Evaluate Past Performances
Estimate your target.
Forecast sales
Plan strategies to achieve your target
Plan for sale: Advertise/PR/Publicity( through friends, peers etc)
Generate customer
Adopting changes as per the situation( timely/flexible)
Maintain quality
We are happy to see that our future entrepreneurs has this quality & they have understood the fact.
They are able to sell their concept & plan & managed success.
Now I can feel that we are giving right training.
Role of team work has definitely played a crucial part in this success story. Whole hearted involvement & guidance of faculties have shown path to success. This is called TQM strategies in management parlance.
With this show students have broken the myth that “ sale will not be there”. Which was required to explain about the “success through the management concepts”.
This small step of achievement will become big leap in future endeavors. That’s why I consider it as a big achievement in the direction of successful entrepreneurship and management.
Now you have tasted the success. Keep it alive & don’t let it die easily.

Formulate your own path towards the goal which you have set. Success will follow.

“ No one can stop us.”