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Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Opportunity4 Marks
Question
“Creative products and services are born as results of problem solving”. Explain with the help of an example.
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Answer

Creativity is an important key component of the talents and abilities needed for an entrepreneur. Often he can apply it to develop new products and services and creative products and services are born as results of problem solving. For example
  1. Someone found that while tightening screws, overtightening often resulted in damage to the fixtures. Here was a problem and the solution came in the form of a self-adjusting screwdriver which prevented overtightening.
  2. When doctors found monitoring of dosage of medicine to be given to patients on a regular basis by using traditional methods using a syringe cumbersome, by looking into a problem of most of the patients a pharmaceutical firm developed a new process of implanting the dosage of medicine required the patient for even discharge of in time and required dosage into the blood stream.

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