Enterprise Growth Strategies — Entrepreneurship STD 12 Commerce — Question

State the important considerations that an entrepreneur should keep in mind while purchasing the right quality and quantity of material at a right time and price.

Give two examples of service sector ideas.

Who should write the business plan?

Differentiate between RoE and Rol.

At zero level of output, total expenses are also zero. Do you agree? Why or why not?

What is the need of finance?

Why is environment an important factor for entrepreneurship? State.

What do you mean by scanning of environment?

Blockbuster
This case study also applies to lack of agility but it's essentially location that has led to the downfall of Blockbuster. The company that delivers movies to 15 million doorsteps these days isn't Blockbuster the retail chain that once dominated the industry but an upstart company, Netflix company, that used little more than a website and knowledge of the postal service to topple a far more powerful and wealthy rival. The place for a video rental store these days is not on the high street but on the internet. Some fundamental rules changed and Blockbuster didn't get it fast enough whatever performance yardstick. Blockbuster was using to measure business success and guide strategic planing underestimated the impact of the change.

1. What were the reasons for Blockbuster's failure?
2. Which company caused the downfall of Blockbuster?

“One of the components of a business plan effectively establishes how the entrepreneur will compete and operate in the marketplace. It acts as a guideline regarding the marketing objectives, strategies, and activities to be followed by any new enterprise.”
(I) Identify the component of the business plan discussed above.
(II) Explain the steps described in the plan that help an entrepreneur find the group of customers whose needs the enterprise aims to fulfil.