The New Nation - Internet Edition

For the first time a three-day unique and distinguished festival began yesterday at Daffodil International University (DIU) in the city.

Faculties of Business and Economics, DIU and Career Development Center (CDC), both together serving over a five thousand students, have partnered to bring the heights of excitement to the Summer 2008.

DIU 1st Business Festival 2008 has a great significance to all of us. In order to make this festival successful, it has been divided into several events, like Business Plan Competition (Young Entrepreneurs' Fair), Business Quiz Competition, Business Case Competition, Workshop on 'Presentation Skills', Seminar of 'Student Volunteerism and Reduction of Hazardous Child-Labor', a Panel Discussion on "Career Planning" with distinguished and renowned personalities from our business arena and so on. These events are expected to play a significant role for the development of the students to be most effective and role personnel in future. The question may raise, why these are the events include at this festival? Why, other business concerns are not going to consider here? If we go for the reasoning, the answers will be as follows.

Firstly, if we consider the importance of Business Case Analysis, we can easily find that a good business case helps to make right decisions and avoid horrible waste. The vast majority of unsuccessful projects fail not because of poor project management, but because of poor decisions with respect to the choice of projects. Our students, though they are not professional yet, will try to solve some business cases and give us their feedback logically, what they think about the mentioned situations. In one side, it will help students to think about a situation or matter in different dimensions; in another side, it will develop the students' analytical skill to present the answers systematically.

There is a fallacy that a business case is a thick tedious manuscript, written by professional consultants in an incomprehensible language. It's printed on high-quality paper stock and placed onto the top shelf of an executive's office to be used as a breeding ground for dust bunnies. This is not a business case; this is a disaster.

The sole role of a business case is that of a communication tool, composed in a language that the target audience understands and with enough detail to facilitate decision making on his or her part. There's -no magic formula when it comes to the size of a business case. The size is irrelevant. What is relevant is that the business case provides all the necessary information to

- make the job of the decision maker possible. So, A Business Case is a persuasive and compelling argument advocating a course of action intended to achieve one or more business objectives. A well-crafted business case proves to readers that the recommended action is the best option to pursue. As its name implies, a business case presents a definite point of view.

To put it simply, a business case is the body of facts' and evidence presented to senior management to support a recommended course of action. Generally, a business case is prepared when a major change in policy, direction, technology, etc. is proposed.

A business case consists of a thorough analysis of business needs, opportunities, threats, and options developed for senior management's consideration and decision. This includes clear identification of proposed benefits (both quantitative and qualitative), cost-benefit analyses, risk analyses, alternative and sensitivity analyses, and return on investment (RO) calculations. So, we think, this event will play a significant role in this festival for our business students and upcoming leaders in this society by which they can take the best decision in their professional and academic career.

Secondly, a business plan is simply a resume for proposed business. Its primary importance is that a business plan becomes a calling and system anyone is going in to talk to a property manager about leasing space for the business, or are meeting with a potential lender or investor, the business plan will announce/outline who the person is and what is the purpose.

In most cases, a business plan is created to explain and illustrate the vision, have for the business, and to persuade others to help entrepreneur achieve that vision. To accomplish this, the plan will need to demonstrate on paper that a person has a firm visualization of what the business is going to be. It needs to convince others that the business concept can be successful, and that the entrepreneur possesses the expertise-alone or collectively-to assure that it will be both successful and profitable.

While it is obviously important to be able to present the business concept in a way that allows others to understand quickly and precisely what the entrepreneur hopes to be doing, need to develop a business plan for the entrepreneur own use. The process of developing a business plan will require focusing on exactly what the person is trying to achieve, precisely where the entrepreneur wants to be going, and exactly how planning to get there. It will force the person to detail the many expenses involved to open the business, the projected sales and monthly expenses of actual operation, and the volume of business the entrepreneur will need to geflerate to meet obligations.

As a result, our students are going to prepare the business plan, submit the plan and will try to implement the project virtually through the entrepreneurs' fair. We will then go for the judgment based on four: criteria, the plan idea (business idea), deliberation, presentation skills and total outlook of the stall, will determine' the best three teams.

Thirdly, the business quiz competition will help the students to gain basic knowledge of different business fields like management, marketing, accounting, finance, human resources and general knowledge of current business affairs. This competition' will be very much beneficial for the participants to build their confidence, exercise the business knowledge, show the ability with constraint time, prepare them as optimistic individuals and update the knowledge on different business aspects. .

Next, the workshop on "Presentation skill" wilt be very much effective for our students, who need to develop their skill to deliver their knowledge towards the target audiences. As a student of business, this skill has the significant role for developing the career in future. We add this event here considering the importance of this skill in this 2151 century business environment. As business graduates, if individuals fail to present themselves and fail to negotiate with proper manner, business may not be -flourishing with competitive pace.

Another most important event of this festival is the panel discussion on Career Planning with the leaders of different sectors and industry, The students will enjoy the discussion about the prospects and opportunities for the future leaders (upcoming graduates) from the leaders of different sectors. Afterwards, there will be a question and answer session, where the managerial leaders will answer the questions of our students on their career planning. This panel discussion will provide the realistic and holistic information to the students by which they will choose their actual fitted field of profession after their graduation.

Overall, DIU 151 Business Festival 2008 is going to inspire and motivate our students for further development and try to make them serious on their study which has the great importance for future career. This is the festival to create awareness among the students, do something effective for future development, motivate and encourage everyone for doing the best, and prepare our students by which they can compete in this fast moving business world .