Brief Answer Questions:
[10 × 2 = 20]Define Intrapreneur.
Write two characters of disruptive innovation.
Point out three components of creativity.
Write two sources of business idea.
Give two reasons of conducting feasibility analysis.
Write the application of resource mapping.
Name four major types of business resources in Nepal.
State four objectives of Business Canvas Model.
Write the use of business demography in operation of business.
Mention source of data for decision making.
Short Answer Questions: (Attempt any SIX Questions)
[6 × 5 = 30]What is entrepreneurship? Explain its features.
What do you mean by intellectual property? Explain various types of intellectual property rights.
How do you identify a business opportunities? Explain.
Define resource visualization. Describe the methods of effective resource visualization in Nepal.
Explain the process of registration and renewal of sole trading concern in Nepal.
Define business plan. Explain the different types of business plan.
Describe briefly any four spheres of business demography.
Long Answer Questions: (Attempt any THREE Questions)
[3 × 10 = 30]Successful entrepreneur is driven by mindset not by the quality. Explain the statement. Also discuss the power of motivation for the success of entrepreneurial business.
Feasibility analysis is a pre-requisite for the inception of entrepreneurial firm. Do you agree? Describe the market and organizational feasibility analysis.
Business Model Canvas (BMC) is the future forecaster of the business firm that shows the path of growth of a business. Based on the statement, analyze the nine-building blocks of BMC with an example of a real-life business firm.
Resource mapping provides detrimental ideas to a person for deciding types of business. If you want to establish entrepreneurial business, what sort of resource mapping is required? Discuss with template.
Comprehensive Answer / Case / Situation Analysis Questions:
[4 × 5 = 20]Analyze the following case carefully and answer the questions that follow:
Mrs. Rashmi Agarwal, who is a postgraduate in Economics, established Rashmi Garments, in May 1987, by installing two machines bought at Rs 20,000. The idea of starting her own business came in 1984, when she saw an advertisement in the newspaper for a one-month Entrepreneurship and Business Resource Mapping Development Program (EDP) conducted by the Small Industry Service (SISI), Okhla, New Delhi. She learned how to start her venture.
She decided to start a garment unit as she had learned something about garments during her school days. To add to her technical know-how, in 1985, she enrolled herself in a two-year part-time course in fashion design with the Young Women's Christian Association (YWCA), New Delhi, and completed the course in 1987. In the meantime, on the basis of her husband's bank account, she applied for the Director of Industries (DI) in Delhi. The position was allotted to her in Oct 1987 and at the Flatted Factory Complex (FFC), Jhilmileadiali, New Delhi, a space measuring 56 sq. meters was allotted to her. Mrs. Rashmi Agarwal, who had been earlier living with a joint family, had shifted to her newly constructed house at Vikaspuri 25 km away from her unit.
Mrs. Rashmi Agarwal has two school-going children - a girl and a boy aged seven and four years respectively, and they were admitted to a school in Karol Bagh near her unit so that she could take care of them after they returned from school. Mr. A.K. Agarwal is a Postgraduate with M.Sc. (chemistry) and working as a Circle Officer with the Delhi Administration. He had witnessed an event in his neighborhood, where a young man had been ill-treated by her for laws. This had left a great impact on him and his interest in seeing his wife Mrs. Rashmi Agarwal, do something outside the home turned into his determination to make her economically independent. During the initial stages, since Mrs. Agarwal's unit was not in full production, workers were unwilling to join as they were unsure about the survival. After a great deal of effort, she was able to get through the local machine dealer Rs 1,000 per month each.
Agarwal's initial strategy was to approach the customers in the local market with sample pieces of her items. The response was not encouraging, despite keen pricing. This proved Mrs. Agarwal then decided to supply the items at cost price. This proved successful in getting an entry into the market. In the next month, she was approached by three dealers for supplies. She took her. Afterwards these three dealers approached her. Taking this as an opportunity, Mrs. Agarwal decided to sell her items at 10% -15% profit. This was acceptable to her old as well as new customers. She then employed three more workers and added two more machines to her unit to meet the demands of her customers. In the initial couple of months, it was difficult for her to cope with the customer's requirements regarding the type, size, and quantity of the items.
Mrs. Rashmi has reinvested more than 70% of the profit into her venture. Gradually, her total investment grew from Rs 20,000,- to Rs 50,000,- and the turnover also increased from Rs 5,000/- to Rs 60,000/- per month. She now had eight workers including one cutting and designing master and one sales man-two machines in her unit and there were more than ten customers in the local market. She always took care of her workers and was ready to help them any time, however, she did not get their help at the time of her need. The workers well all worked from up late into the evening and sometimes even on weekly holidays, however, at the same time, they also had their problems and limitations.
Mrs. Rashmi thinks to spend spare time with her children properly. Mrs. Rashmi used to participate in the discussions with the customers. This increased her confidence in the marketing business. In the absence of her husband, she had begun to make the decisions. Though the market demand for Rashmi Garments, is increasing, yet Mrs. Rashmi Agarwal is finding it difficult to cope, due to lack of space and manpower. She thinks to expand her business and at the same time, she would like to spend more time at home with her growing children.
Questions:
a. Critically evaluate Mrs. Rashmi Agarwal as an successful entrepreneur.
b. What were the key factors responsible for the initial growth of Rashmi Garments?
c. If you want to establish an entrepreneurial business, what factors would motivate you to do so?
d. Identify problems that Mrs. Rashmi Agarwal had faced in her enterprise entitled "Rashmi Garments"