Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

Nitin is a young entrepreneur who has decided to venture into the business of manufacturing cycles for children. He wants to have an assessment that in how many days, his investment will start generating cash flows. So, give him the operating cycle of a manufacturing company.

You are an entrepreneur who is deciding the operational plan for your business.

1. Use a cheaper technology which lets you dispose of the waste water and lets you fix the price of your product low.
2. Use a technology that is a little expensive as it lets you recycle that waste water into water fit for drinking. In this case, you will have to fix the price a little higher in order to earn profits.
3. Use the technology that recycles the waste, do not change the price. And go about cost cutting though efficient utilisation of resources.

Give reasons for your selection of an alternative.

What are the various types of brand names from the entrepreneur’s perspective?

Explain how demand and project innovation and changes' help an entrepreneur in assessing the market?

Answer each of these questions in about one hundred and fifty words:
Apoorva wants to start a new business near to her locality, for which she requires capital State different types of national level and state level financial institutions from where Apoorva can access capital according to her needs and requirements.

Rex saloon chain started in 2010 managed to keep the business going till 2013. The saloons could build a good customer base and could cover the costs. The owner Mrs Lily now thought of growing the business and tried to set new goals. She decided that she will be increasing marketing efforts and try to further sales growth to 20% in a span of one year. The aim for profit would be to ₹5 lakh per saloon. What do you think, is Lily able to set realistic goals of her business?

Answer each of these questions in about two hundred and fifty words:
While there are benefits to going public, at the same time additional obligations and reporting requirements on the companies and its directors means disadvantages too what are they? Explain.

Explain any four important aspects to be considered while doing market assessment by an entrepreneur.
OR
What is market assessment? Why is it needed for an entrepreneur?

Explain creative process.

State the factors that an entrepreneur has to take into consideration while assessing the market.