Short :
How an entrepreneur redefines a value preposition?
An entrepreneur redefines a value proposition by:
Identifying customer needs
Creating innovative solutions
Communicating unique benefits
Differentiating from competitors
Refining and improving based on feedback.
Differentiate between internally stimulated ventures and externally stimulated ventures in terms of
opportunity recognition?
Internally stimulated ventures:
Identify opportunities through internal resource and capabilities
Driven by entrepreneur’s vision and passion
Often innovative and disruptive
Externally stimulated ventures:
Identify opportunities through external market needs and trends
Driven by market demand and customer needs
Often incremental and iterative
What is product and trade name franchising and how it differs from other type of franchising.
Product and trade name franchising:
Allows franchisees to sell a specific product or service under the franchisor’s brand name
Franchisees are not required to follow a specific business system or operations
Examples: Coca-Cola, Ford dealerships
It differs from other types of franchising (business format and pure franchise) in that it does not
involve a comprehensive business system or ongoing support.
Long:
Why has women entrepreneurship become popular over the last decade? Give at least two logical
reasons.
Women entrepreneurship has gained popularity over the last decade due to:
Increased empowerment and gender equality: women have gained greater control over their
lives, finances, and decisions, leading to a surge in entrepreneurial pursuits.
Access to resource and support: Governments organizations and networks have established
initiatives to provide funding mentorship and training specifically for women entrepreneurs
marking it easier for them to start and grow businesses.
These factors have contributed to a significant rise in women-led startups and small businesses
breaking down gender barriers in the entrepreneurial landscape.
A Fresh graduate wants to start his/her own business. He initially thinks of arranging investment on his
own. What other factors he/she must keep in mind other than investment?
1. Market demand and competition
2. Business model and revenue streams
3. Legal structure and registrations
4. Talent and team building
5. Marketing and sales strategy
6. Risk management and contingency planning
7. Industry trends and adaptability
8. Networking and mentorship
9. These factors are crucial for a sustainable and successful business venture.
Write the five common challenge of family-Owned businesses?
1. Succession planning: difficulty in transferring power and control to the next generation.
2. Family dynamics: Conflicts and emotions can affect business decisions.
3. Lack of professionalism: Blurred lines between personal and professional relationships.
4. Communication issues: Poor communication can lead to misunderstandings and conflicts.
5. Growth and innovation: Struggling to adapt to changing markets and innovate
These challenges can impact the longevity and success of family-owned businesses
