TextBook Solutions
- How scanning of environment is beneficial to an entrepreneurs? Scanning of environment is always beneficial to an entrepreneur to know the present situation in the market, the various changes occurring i... 1
- How Peter F. Drucker defined the word entrepreneur? Peter F. Drucker defined entrepreneur as one who has always searches for an opportunity. 1
- What is the basic test for a successful entrepreneur? The basic test of a successful entrepreneur is the identification of business opportunity in the environment and initiating steps to produce... 1
- Market driven or demand driven ideas (a)For an entrepreneur market is the only place where he can carry out or generate maximum ideas. Such a study yields valuable data about tr... 1
- “An opportunity may be derived from the needs and problems of the society.” Comment. “An opportunity may be derived from the needs and problems of the society”. Yes, it is a correct statement. An entrepreneur is one who perce... 1
- What are the factors an entrepreneur has to keep in mind while assessing the market? (i) Demand: The demand assessment will be based on the size of market being targeted and also involve a study of the groups of consumers, th... 1
- What is Idea Generation? The process of creating, developing, and communicating ideas which are in an abstract, concrete, or visual form. It includes the process of... 1
- What is required to convert an idea into an opportunity? Sensing entrepreneurial opportunities is only a process of converting an idea into an opportunity and then into an enterprise. 2
- What is the meaning of trend spotting? It is an immediate identification of new trends like fashions, activities, designs, assumptions, etc. 1
- Define the term environment scanning. Environment scanning refers to careful monitoring of an organization’s internal and external environments for detecting early signs of oppor... 1
- What is a business opportunity? It refers to an attractive and accessable economic idea which could be implemented to create a business, earn maximum profit, and leads to f... 1
- Characteristics of Entrepreneurship Entrepreneurship is a process of setting up a new business organization. It is the process where one decides to build a business career by f... 1
- An entrepreneur must be an innovator. Innovation is a dynamic change brought by an entrepreneur by bringing new combinations of factors of production. Innovation by the entrepren... 1
- Entrepreneur must be a good communicator. An entrepreneur needs to communicate effectively with different people like customers, suppliers, creditors, employees, etc. from time to ti... 1
- A successful businessman takes a calculated risk. A successful businessman should be calculative in taking a risk. He should be prepared to face challenges and look for opportunities in ever... 1
- Entrepreneurship is the best source for self- employment. ( 1) Intellectual capabilities: An entrepreneur is a creative thinker. He always thinks more creatively and better than others. He always gi... 2
- Define entrepreneur. Explain qualities of successful entrepreneur. An entrepreneur is a person who starts a business and is willing to risk loss in order to make money." Successful business people have many... 1
- How does the Penetrating Price Method of pricing facilitate in expanding the market? Penetrating Price Method of pricing is one in which the price of the product is decided lower than the original price of the product with mi... 1
- Mention the disadvantages of penetrating pricing method. Following are the disadvantages of penetrating pricing method: 1. This method is applicable only to the products and services, which have hi... 1
- Mention two factors affecting pricing of the commodity. Cost of production, goals of firm, prevalent competition etc. affect the price of the commodity. 1
- Explain the important factors affecting the choice of channels of distribution by the manufacturer. The choice of channel depends on product factors, company factors, competitive factors, market factors and environmental factors. Product re... 1
- Explain the factors affecting channels of distribution with relation to market considerations Market considerations affecting the choice of channel are the size of the market, its geographical concentration, the size of orders and the... 1
- Read the following article from a Business Newspaper and answer: (a) Reason: market expansion (growth into new, high-growth markets) to improve profitability. Line from the passage: "Fone India's main moti... 1
- ‘Ganpati Steel Ltd.’ is a large and creditworthy company manufacturing steel for the Indian market. The company ‘Ganpati Steel Ltd.’ has used three methods of flotation of new issues to raise funds for their expansion plan. Prospectus: The... 1