Entrepreneurship as Innovation and Problem Solving — Entrepreneurship STD 11 Commerce — Question

Kunal is thinking of starting his own business by manufacturing iron sheets. He is well aware of the fact that starting a business requires a wide range of data. Provide him with a list of institutions, providing information related to their functional importance.

'Connectwell, a company providing DTH services is facing intense competition from 'Orange', a USA based MNC. The company instead of withdrawing from the market, decides to fight to retain and increase its market share. Which are the key areas on which it should focus?

When does a firm opts to pursue expansion strategy?

Name the plan that shows the inflows and utilization of funds.

There are many misconceptions related to a business idea. State any two such misconceptions and the realities behind such misconceptions.

Give the distinct features of 'direct tax'. Also give examples of direct tax.

'Sugar-on' is a company engaged in the production of sugar. While deciding on the price per kg of sugar they totally disregarded the regulations laid down by the government regarding this product. The government had fixed a price-ceiling on this product @ 28 per kg, but ‘Sugar-on' decided to sell it for 32 per kg.

1. Which factor related to determining the price of the product has been overlooked by the company?
2. State the value affected by the company.

Financial planning requires an entrepreneur to take certain decisions. State those decisions.

What are non-economic activities? Give the different categories of such activities with one example each.

In ‘market penetration strategy', an enterprise attempts to increase the sale of its current products in the current markets by adopting certain approaches. Explain the various approaches briefly.