Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

Why financial control is considered as an important activity?

A sole proprietor does not require registration, but may require certain general formalities. Name any two such formalities.

What is a ‘Project Report’? Explain.

What purpose does a sales budget' serve?

Explain 'Operational Plan' as a feature of a feasibility plan.

Define ‘Cost’ and name the major elements which determine the cost.

Enlist the various sources which lead to the emergence of basic ideas.

Ankit is into the business of manufacturing low-cost diesel-cars in Germany. He is earning good profits and ambitiously considering overseas expansion. He scans the environment for finding out the opportunities and threats that may influence his current and future plans. He zeroes down on India as a potential place for his business expansion as Indian Government has announced favourable trade regulations. On selling, the first lot of cars were above the permissible limit. The government asked him to make necessary modifications in his cars if he wanted to continue business in India. He readily agreed to meet the emission norms set by the Indian Government.

1. Quoting the lines from the above para identify any two environmental factors.
2. Also, state any two values which Ankit tried to communicate to the Indian society.

CRM is essential for a business, why?

Sanjana graduated from National Institute of Fashion Studies and wants to start her own boutique. She wants to understand the feasibility and viability of the proposed venture. This will also facilitate her in assessing and making provisions for the bottlenecks in the progress and implementation of the idea. She also wants to know about the success of the project along with the risk factors involved.
Identify and give the meaning of the document which is required by Sanjana on the basis of the above para.