Viva Questions and answers – entrepreneurship development
[Link] is an entrepreneur?
A person who start a new business by undertaking the risk and enjoy the profit is
called an entrepreneur
2. is entrepreneurship?
Entrepreneurship is the act of being an entrepreneur. Entrepreneurship refers to the
process of creating a new enterprise and bearing any of its risks, with the view of
making the profit.
[Link] is swot analysis?
Process of analysing the strength weakness opportunities and threat of an
organisation
[Link] is value preposition?
It is the Value that a company promises to deliver to their customers in order to buy
company’s products. It is a problem of customer that we are trying to solve
[Link] for generating a business idea?
Identify the industry where you want to start your business define the business
goals and customers add demographics and psychographics test your business
idea validate your business idea select the pricing strategy SWOT analysis
[Link] for generating business idea?
Brainstorming
Personal experience
Copying ideas
Purchasing franchise
[Link] is design thinking?
Design thinking means understanding human behavior in order to develop or
improve products or services.
[Link] in design thinking?
Empathizing definingideationprototypingtesting
[Link] is feasibility analysis?
A preliminary evaluation conducted in order to determine whether the product or
service will be viable . that is whether it will be successful or not
[Link] in feasibility analysis?
Product /service analysis environmental analysis market/industry analysis
financial analysis
[Link] are porters five force?
Threat of new entrants
Threat of substitutes
Competitive rivalry
Bargaining power of customers
Bargaining power of suppliers
[Link] is PESTEL?
Political
economical
social
technological
environmental
legal
[Link] is business model?
A business model is an outline of how a company plans to make money.
[Link] are various business models?
Subscription model- subscriptions for accessing contents- netflix
Bundling model - selling two or more products together as a single unit-
adobe creative suit
Freemium model- provide free access for some time and then add
subscription - spotify
Razor blade model-attracting customers with a premium product and then
selling them as lesss expensive over time- apple
Product to service model - The customer will be able to purchase a result
than a product. E.g. Uber,
Crowd sourcing model-Crowdsourcing involves receiving opinions,
information, or work from many different people using the internet or social
media.- youtube
Franchising model- the franchiser work with franchise and franchise pays
the franchiser a percentage of the profit.
Manufactural model- utilizing raw materials to create a product to sell.
[Link] is business model canvas?
It is a strategic management tool to quickly and easily define and communicate a
business idea or concept.
[Link] in business model canvas?
value preposition
Key partners
Key activities
Key resources
Customer relations
Channels
Customer segments
Cost structure
Revenue stream
[Link] is business plan?
It is a formal written document which contains the goals of a business, the methods
for attaining those goals and time frame for achieving the goal etc.
[Link] are the portals for registration of start ups?
K swift
mca portal
udhyam portal
start up india
[Link] is micro small and medium enterprise?
A microenterprise is one where investment does not exceed Rs 1 crore
and turnover not over Rs 5 crore.
a small enterprise, investment does not exceed Rs 10 crore and turnover
is not more than Rs 50 crore.
A medium enterprise has been classified as a business where the
investment does not exceed Rs 50 crore and turnover is less than Rs 250
crore.
[Link] strategies ?
Penetration
Market development
Alternative channels
Diversification
Product expansion
Market segmentation
partnership
