Entrepreneurial Opportunity — Entrepreneurship STD 12 Commerce — Question

“Sensitivity to environmental factors is essential for an entrepreneur.” In light of above statement explain the importance of environment scanning.

Answer each of these questions in about one hundred and fifty words:
What are the disadvantages of franchising to the franchisee?

Answer each of these questions in about two hundred and fifty words:
Explain in detail Porter’s Generic Value Chain with the help of a diagram.

'One of the keys to business success is to anticipate what the market will want or need.'Since it is not possible for an entrepreneur to see into the future, there is one best way. This 'best way' will help the entrepreneur to understand the market and produce goods or provide services accordingly.

1. Identify the concept discussed in the above lines.
2. Explain any three ways in which an entrepreneur can perform the activities related to the concept identified.

How environmental scanning is helpful for an entrepreneur?

Read the following text carefully:
Mr. Prasad started a cakes and confectionery business in 2010 by the name of ‘Happiness to Order’. In no time his bakery became the talk of the town for customized cakes as per the occasion. He used high-quality liquid glucose and icing sugar to make the fondants for his cakes. Seeing the popularity, he opened 4 more outlets in different localities.
Over the years people have become cautious of what they eat and are cutting down on sugar. The fondants that were once the USP of his bakery were now losing market to the competitors as they introduced a healthier version of bakery products, especially cakes without gluten or sugar but almond flour, oats flour, etc.
His cooks advised him to experiment with healthier options which Mr. Prasad was reluctant to try. He could not adapt to the changing environment and all 5 outlets started running into loss. Eventually, he decided to close the business. He owes ₹ 15,00,000 to his supplier firm whom he had taken goods on credit in the past year.
On the basis of the given text and common understanding, answer the following questions:
(I) Mr. Prasad’s business funds are insufficient to repay the debts, can the supplier claim Mr. Prasad’s assets? Give valid reasons in support of your answer.
(II) “Environment scanning is important for an entrepreneur.” Justify the statement, giving valid reasons in support of your answer.

Distinguish between Internal and External Expansion.

How will you show that market mix is dependant on the type of the product?

Number of people who took their meals and the total billing for each of the 5 weeks is in the HOTS following table. What are the unit of sale' and the 'unit price' in this case? If the variable cost is 50% of the sale price, calculate the 'unit cost' and the gross margin' per unit of sale.

Weeks	Number of people taking meals	Total amount billed (₹)	Average amount billed (₹) per customer
Week 1	120	18,000	150
Week 2	60	12,300	205
Week 3	70	10,220	146
Week 4	80	17,680	221
Week 5	90	21,600	240
Total	420	79,800

Dr. Bhim is a senior cardiologist and is concerned about the depleting health index. He researched and found that proper eating habits can improve the quality of life. He initiated ‘MediBytes’, a unique canteen, where the food is provided as per one’s health needs. The food served at MediBytes has no fast food and no aerated drinks. It provides zero-oil food with all the basic nutrients required for the body. Initially these canteens were started in hospitals but since people are becoming health conscious, MediBytes is planning to open their branches in other locations also.

1. Identify and explain the idea field that was explored by Dr. Bhim.
2. State any two idea fields with examples other than the one identified in (a) above.