Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

Explain demand driven ideas' and trading related ideas' as idea fields.

Surjeet belongs to a lower middle class family with no business background. He, however wants to venture into the business and has a innovative idea. He has approached various banks but due to his family background he has not been able to avail any finance. Suggest some options to him.

Radhika after graduating from college went back to her home town in Meghalaya. It was a small town with very few job opportunities. The Karbi tribal women in that area were uneducated but still practiced the method of obtaining traditional colours from natural wild herbs. Their most popular dye was indigo obtained from the leave called 'sibu'. Using these colours, they added variety to their textiles. The women were mainly confined to their homes and they did not know how to make a living out of their talent. Shiela went from door to door analysed the problem that existed. She thought of setting up a voluntary association of rural women who would be able to join and leave the organisation at their own will without any coercion or intimidation.

1. Name the process which helped Shiela in converting an idea into an opportunity.
2. Identify the kind of organisation that Shiela has decided to set-up.
3. State any two values which Shiela wants to communicate to the society.

Geeta has completed her B.Tech. in Chemical Engineering from a famous Indian Institute of Technology. She wants to start a chemical production unit wherein such chemicals will be produced which are used in automobile colouring and are being imported from other countries now-a-days. The technology to be used by Geeta is new and untried involving high-risk factors along with high growth potential. She wants to raise funds for her project from such a source that provides private equity capital as seed funding to early stage, to give shape to her ideas.

1. Suggest Geeta the source of finance from where she can fund her project.
2. Give the meaning of the source suggested in (a) above and state any four features of this source.

“Creative products and services are born as results of problem solving”. Explain with the help of an example.

A company dealing in pharmaceuticals plans to promote its products through advertising and does not deter from making false claims. Give the rules of advertising of the company. Is the stand of the company correct? Which values stand violated by the Company's Act?

How NABARD is different from TFCI.

What are the major categories of entrepreneurial ideas? Discuss them with an example each from your observations and readings.

Success of franchises such as McDonald's, Burger King, KFC, Boston Market, Subway, Midas, Jiffy Lube, Holiday Inn, Mail Boxes and Merry Maids is that, all these firms have established an excellent franchise system that effectively provides the necessary services to the franchisee. With respect to the above, describe the advantages of Franchising to the franchisee.

Which persons/ professionals are consulted by the entrepreneur while preparing a business plan?