IP address issue for VM in Oracle virtual box

The issue that i used to face whenever I import a VM into oracle virtual box and start it is no IP (the VM will not be assigned with any IP, I normally want to access the VM from my laptop or some other machine).
Here are the steps i followed to resolve this,

1. The network adapter in the settings for the VM should be Bridged adapter (this we will always do it, i am just mentioning just not to miss anything)
2. Go to the VM and open a terminal(mine is a linux VM).
3. Open the network setting by running "system-config-network" command.
   
4. Select Device Configuration
5. Select eth0 and Activate it.
6. 
   Once activated, click on save, save&quit buttons.
7. From the command prompt run following commands,
8. ifdown eth0
9. ifup eth0
10. ifconfig will give the new IP for the VM.