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Jai Prakash Ltd., was running into losses for the past few years. The company appointed a consultant to look into the reasons for the loss. The consultant after analysing everything framed a sales strategy which helped the sales force spend time targeting the correct customer at the right time. This helped the company to revive their profits within a few months. Explain the types involved in this strategy.
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| Pooja after finishing her catering course wanted to start her pastry shop in her home town - Jaipur. She knew that there were a lot of national and international tourists who visit the place whom she considered as her target customers. She also planned to have a centralised kitchen to make the pastries and then use vans to transport to various shops all around Jaipur. For the same, she also decided to rent a warehouse near to her centralised kitchen. |
From the above case study, identify and explain the factors which Pooja has paid attention whilst doing market assessment.
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Explain the first five steps involved in idea and opportunity assessment.
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What is the meaning of trend spotting?
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What are the various ways in which an entrepreneur spot trends?
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What do you understand by Trend Spotting? What are the ways by which entrepreneurs can spot trends?
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Who can write the business plan?
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How many formats are available to design a successful business plan?
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What is a proforma income statement?
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What is a Business Plan?
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What is elevator pitch?
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How many sources of funds are available for arranging funds for business enterprises?
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How many choices are there to start a business by a business man? Explain each of them
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What is a business plan? Explain its importance.
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Explain, in detail, the various formalities required to start a business.
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A person has decided to start a small leather belt manufacturing unit. He/she is not aware of the various formalities involved in the process of setting up the unit. Explain to him/her the procedure.
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The first stage of a business plan is to come up with a business name supposing you are an entrepreneur, who is in the stage of deciding abusiness name for your enterprise would you :
(i)Keep the name of your enterprise, similar to one of the enterprises that are already doing really well in the same line of business?
(ii)Select/create a completely new name for your enterprise and create a brand name of your own? Give reasons. (Honestly)
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An entrepreneur is doing an industry analysis. While he/she is analyzing his/her competitions in his/her line of business, he realises that the competitors are far better in their business plans and their execution. Should the entrepreneur add unique selling point in the existing plan to get a creative niche above others or should he/she go for a completely different line of business where the competition is less and he/she is easily able to place his/her feet in the market? Give reasons. (creativity and problem solving)
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Raghav, an entrepreneur realises that the enterprise he wants to start has a potential risk of fire because the production process poses such a threat. Should he develop strategies to :
(i)Prevent the risk
(ii)Respond to the risk
(iii)Prevent as well as respond to the risk? Give reasons.
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What is value addition?
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