Question
Explain any six idea fields which act as convenient frames of reference for an entrepreneur at the time of generating ideas.

Answer

Idea fields:-
  1. Natural resources.
  2. Existing products or services.
  3. Market driven or demand driven.
  4. Trading related ideas.
  5. Service sector ideas.
  6. Creative efforts.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

What facts are needed for market planning?
'The process of generation of ideas' can be streamlined by developing an awareness about it and these work as the convenient frames of references for this'.
  1. Identify the concept stated in the above lines.
  2. Explain any three sources of the concept identified which are used by an Entrepreneur.
Answer each of these questions in about fifty words:
Explain the objectives and functions of SIDC.
Explain the factors affecting the formulation of a financial plan.
What does 'product' mean in marketing mix? Explain the various elements of product mix.
Why big brands make head towards for franchising? Explain with an example.
Give the salient features of Limited Liability Partnership Act, 2008.
Explain the steps for the development of the tool of cash management that helps an entrepreneur in knowing how much cash generation and expenditure is anticipated over a chosen period of time in future.
Floral Art and Craft' opened its first store in Mumbai in the year 2010 with the objective of providing its customers with fresh flowers creatively packed and value for money.It procures fresh flower directly from the farmers. The organization makes sure that the farmers adopt organic means to nourish the soil and do not use chemical fertilizers as it degrades the soil fertility. Packaging material is procured from specially abled craftsman of I CAN.
Floral Art and Craft's facebook and twitter page encourages two way communication with its customers. These social media channels provide a platform through which it can interact with customers and access their opinion about the brand. The store also uses direct e-mails to their frequent customers to inform them about different schemes and other promotional messages. Its website promotes the store by organizing different flower decorating classes and competitions using the products of I CAN.
  1. Identify the promotion strategy adopted by I CAN. Also state the lines from the text that helped to identify the form.
  2. State any two features of this type of promotion strategy.
  3. State two values communicated to the society.
What do you understand by Trend Spotting? What are the ways by which entrepreneurs can spot trends?