Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

Explain the concepts of 'Cost, Revenue and Break-Even-Point'. Also explain how Break-Even-Point is calculated.

What is meant by moving-up the value chain? Explain with the help of an example.

Vinay was a young entrepreneur who wanted to start a new business with an initial investment of 25 lakhs. He was not sure of what business he has to undertake. His friend suggested seeking the help of professionals who would spot the latest trends in the market and give him an idea, but Vinay decided to do it by himself. Suggest the various ways by which he can do it.

Lalita Devi did her post-graduation from Manipur University, Imphal. She had offers to join reputed firms in metropolitan cities like Delhi and Mumbai. Instead of joining any of these firms she decided to do some creative work in Imphal. She observed that a special type of chilli is grown by the farmers of most of the villages around Imphal. This chilli has a distinct flavour and the pickle made from it has a taste that may be liked by many people in other parts of the country. But the farmers were neither trained in the farming of this kind of chilli on a large scale nor was there a secured market for their produce. Lalita Devi met eighteen like-minded women of the area and formed an organisation for doing the business of pickle manufacturing. Each of them contributed Rs.2,00,000 towards its capital and were equally responsible for its management. On the one hand, they assured the farmers to purchase the chilli produced by them and on the other hand, the organisation with the help of the local agriculture department arranged for the training of the farmers. They also employed 10 local unemployed graduate girls for doing the various operations of pickle manufacturing.

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

Answer each of these questions in about fifty words:
Enumerate the importance of franchising.

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

Why is scanning of environment considered as interface between spotting and product identification? Support your answer with at least one example.

When and how to seek Venture Capital Finance?

Explain Joint Hindu Family/ Firm (HUFs).

What is a partnership deed? List out the various contents of partnership deed. Which values stand violated if partners enter into an oral agreement?