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Description
| SESSION | JUNE/JULY2023 |
| PROGRAM | BACHELORof business administration (BBA) |
| SEMESTER | V |
| course CODE & NAME | dBB3114–Entrepreneurship |
| CREDITS | 4 |
| nUMBER OF ASSIGNMENTS & Marks | 02
30 Marks each |
Assignment Set – 1
- What do you mean by entrepreneurship? What are its main elements?
Ans 1.
Entrepreneurship:
Entrepreneurship refers to the process of starting and operating a new business, typically with the aim of capitalizing on novel ideas, products, or services. At its core, entrepreneurship embodies the spirit of innovation and risk-taking. An entrepreneur is someone who perceives an opportunity, often accompanied by market gaps or unmet needs, and is willing to undertake the risk of establishing a venture to address these issues. Entrepreneurs often differentiate themselves by their willingness to transform traditional processes, enhance the
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- List the functions of mentors. Explain in detail types of mentoring.
Ans 2.
Functions of Mentors:
Mentors play a pivotal role in guiding and nurturing entrepreneurs on their journey to success. Their functions extend beyond just offering advice and support; they encompass a wide range of activities aimed at fostering personal and professional growth. Here are some essential functions of mentors:
- Providing Guidance and Feedback: Mentors offer valuable insights and feedback based on their experience. They help entrepreneurs make informed decisions, solve
- Are all the business ideas good opportunities? Discuss some criteria when the idea is truly an opportunity. Comment.
Ans 3.
Not all business ideas are necessarily good opportunities. To determine whether a business idea is a genuine opportunity, you should evaluate it against certain criteria. Here are some key factors to consider when determining if an idea is truly an opportunity:
Market Demand: A good business opportunity addresses a real need or problem in the market. Analyze whether there is a demand for the product or service you plan to offer. Conduct market research and gather data to support your assessment.
Assignment Set – 2
- What is social entrepreneurship? What are the challenges faced by social entrepreneurs?
Ans 1.
Social Entrepreneurship
Social entrepreneurship refers to the practice of using entrepreneurial principles and innovative approaches to address social, environmental, or community issues. Unlike traditional entrepreneurship, where the primary goal is profit maximization, social entrepreneurs prioritize creating positive social impact alongside financial sustainability. Their ventures aim to tackle pressing societal problems, such as poverty, inequality, environmental degradation, and healthcare access, by developing sustainable and scalable
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- Explain different stages of business. In which stage is harvesting possible.
Ans 2.
In the context of entrepreneurship and business development, there are typically several stages that a business goes through from its inception to maturity. These stages can vary in number and terminology depending on the source, but a common framework includes the following stages:
Idea Generation and Conceptualization:
In this initial stage, entrepreneurs come up with business ideas and concepts. They identify opportunities in the market and start brainstorming potential solutions.
- Discuss different marketing strategies for new venture. Explain with suitable examples.
Ans 3.
Marketing strategies are essential for the success of any new venture. They help businesses create awareness, attract customers, and ultimately drive sales. Here, we will discuss several marketing strategies for new ventures, along with suitable examples to illustrate their effectiveness.
- Digital Marketing: In today’s digital age, online marketing is crucial. Leveraging social media platforms, search engine optimization (SEO), and content marketing can help new ventures reach a wider audience. For instance, a new e-commerce store can