Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

What do you understand by creativity and innovation?

Abhiraj Chaudhary is into the business of manufacturing low-cost Diesel Cars in Germany. He is earning good profits and ambitiously considering overseas expansion. He scans the environment for finding out the opportunities and threats that may influence his current and future plans. He zeros down on India as a potential place for his business expansion as Indian Government has announced favourable trade regulations. On selling the first lot of cars in India, the Indian Government noticed that the emissions from these cars were above the permissible limit. The government asked him to make necessary modifications in his cars if he wanted to continue business in India. He readily agreed to meet the emission norms set by the Indian Government.

1. Quoting the lines from the above para identify any two environmental factors.
2. Also, state any two values which Abhiraj Chaudhary tried to communicate to the Indian Society.

Distinguish between cost-plus pricing method and variable pricing method.

What do you understand by 'short selling' and 'squaring' off?

Chacko Ltd. has been manufacturing umbrellas since 1980. They are the market leaders in manufacturing small hand size umbrellas. They have their production unit in Kochi. The MD's son Abraham Chacko took over the family business in 2010. He had finished graduation from USA. Using his educational and networking skills, he was able to take up an export order. He also decided to operate an exclusive export oriented unit in Chellanam. The production work for this unit began in 2014. A dedicated team framed an operational plan for the entire process. Abraham visited the plan to evaluate and take appraisal of the work performed in the unit. State two ways as to how it will help Abraham.

Give two advantages and two disadvantages of Below The Line (BTL) approach of promotion.

An individual wants to start an enterprise that manufactures steam iron, which can be imported from Germany. The material available in Germany is a little better in quality. However, there are no safety issues with the one available in India. Which material would you go for and why? (social responsibility, import substitution).

State some service sector based ideas related to commercial establishment.

What are the factors involved in sensing opportunities?

What is the objective of business Plan?