Question
Explain the diagram of creativity.

Answer


Creativity is an ability of an entrepreneur to achieve perceived goals.
Stages involved in the process of creativity are as follows:
  1. Observe: First he observes the trends and search for ideas from shared experience, attention, listening, history and learning.
  2. Analyse: Whatever idea he perceives, he analyses it with respect to his objectives and goals.
  3. Incubate: The ideas perceived and analysed are incubated in the mind of the entrepreneur where he builds certain consensus, pattern, imagine that how will the concept come into the picture. This is the transition phase. This is the reflection time.
  4. Create: Now, He builds the prototype and evaluates the viability of the plan by testing it and creating the final product and establishes the venture.

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

Distinguish between Private Company and Public Company.
OR

Give the points for deciding the selection of Private or Public Company.
Explain any four important aspects to be considered while doing market assessment by an entrepreneur.
OR
What is market assessment? Why is it needed for an entrepreneur?
What are the rules for advertising?
Venture capital is different from loan. How?
Certain industrial units face difficulty in procuring finance from traditional sources because of the risk associated with them. Name such units. Specialised financial institutions were established to meet the long-term financial requirements of such enterprises on economic and social grounds. What values are conveyed by the government on establishing SFI?
Answer each of these questions in about one hundred and fifty words:
Write a short note on IIBI.
Lalita wants to buy a house. The seller wants 20 lakhs, but Lalita is willing to pay only 17 lakhs.
Which form of negotiation method would be appropriate for Lalita?
Harish is working as the chief accountant in ABC infrastructure Ltd. He came to know that the company is planning to announce an interim dividend. He purchased 2000 shares of the Co. at the market price of Rs. 215 with the expectation of an appreciation in the market price. When the price increased to Rs. 537 he sold his holdings & made a handsome profit. Name the related concept which social values have been affected here?
What is a Public Company?
A factory is engaged in manufacturing shirts. The following information is available to you:
Sales - Rs. 2,00,000.00
Direct Labour Cost (1000 Units) - Rs. 20,000.00
Direct Material Cost (1000 Units) - Rs. 50,000.00
Direct Expenses (1000 Units) - Rs. 10,000.00
Fixed Cost - Rs. 60,000.00
Find out:
  1. Variable cost per unit.
  2. Total cost.
  3. Quantity to be sold at Break-Even-Point.