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Evaluating Business Opportunities. (VVN)
Assignment A
1 . Explain the legal issues related to a new venture in B-2-C space. You are expected to clearly state your assumptions.
2 . What is the process of identifying business opportunity? What role does Macro analysis play in identifying these opportunities? Explain with relevant examples.
3 . Critically evaluate the statement ‘Failure is not about insecurity. It’s about lack of execution’. Support your answer with examples.
4 . What role does market research plan in evaluating the new business opportunity? Describe different tools available with an entrepreneur to evaluate the opportunities.
5 . Explain in brief the steps involved in structuring the new business venture?
6 . In the early stage of venture, what financial options are available with an entrepreneur? Connect different finance options with the Business Life Cycle of the venture to clearly differentiate the options.
7 . Find an innovative solution to the problem of availability of clean drinking water in rural India using any thinking technique of your choice. Your solutions should have clear mention of assumptions, risks, finances and team you work with.
8 . You are a young entrepreneur planning to start a unit to manufacture plastic granules for industrial use.
a. What are the various sources of funds available to you to arrange for working capital?
b. How would you convince, select and recruit your executive team to work with you?
Assignment B
Case Detail :
If a company can be named Google or Zynga and be successful, why notBooginHead? I know what you’re thinking: What’s a BooginHead, and can I use it as a Scrabble word? According to company founder Sari Crevin, the name refers to those times when someone “does something they shouldn’t, but they do it regardless and it makes you laugh.” A prime example is her toddler son, Jake, who liked to toss his sippy cup on the floor over and over just for the sheer enjoyment of watching mom pick it up every time.
The thing about cute-product businesses like this one is that they can seem easy. Create an adorable product with an “awwwww” factor, and the rest is a breeze. Not so fast. “The juvenile industry is incredibly competitive,” Crevin says. “It’s one of the few industries where mom and pop operations can compete right alongside larger companies on the shelves. Because of that, the barrier to entry is smaller and each year you have more copycat competitors entering the space. But, also because of that fact, there is room for new and innovative products that otherwise would never make it to market.”
Like many entrepreneurs, Crevin, a former Microsoft human resource manager, started the business because of personal experience. “I couldn’t find a product that met my own needs and standards. I was tired of chasing after my one-year-old’s sippy cup that he loved to throw from his high chair and stroller. I didn’t want to walk into a store and see that someone else had already come up with an idea like SippiGrip and got it into stores first. I never want to look back and say, “coulda, woulda, shoulda.’ ”
Here are the three biggest mistakes Crevin made in starting the business: read and learn.
1. Trademark and brand name searches and clearances. “Over year ago, out of the blue, I got a letter from Platex that informed me that I could not use any form of the word ‘binky’ and my second product was called ‘BinkiGrip’. There was a lot of scrambling to change the name and the packaging for everything I had in production. I ended up changing it twice before landing on PaciGrip.
2. Not investing in a good graphic designer sooner. “I worked with a lot of designers who were a lot less expensive but just couldn’t deliver the kind of brand image I was looking for. Now that I have been working with my current designer for over two years, it’s great to know that with each new product, packaging design and marketing materials generated, someone is watching out to make sure my brand’s look and feel is consistent.”
3. Short-term financial decisions. “There were many times in the beginning where I made financial decisions based on the short term rather than looking at the larger picture. What might have seemed expensive at the time, like flying in product for a retailer instead of letting it arrive by sea, really wasn’t taking into account what was best for the company or the client long-term.”
Now for the three best decisions Crevin made.
1. Invested in a good lawyer. “There are many places to cut corners, but a lawyer isn’t one of them. Trademark and patent applications can be very tricky.” Take note, those people heading over to LegalZoom.
2. Made product changes based on customer input. “I always listened to my customers and made changes and upgrades based on their needs. After reading reviews online for PaciGrip I realized how important it was that it worked with all brands of pacifiers. That alteration made it universally compatible and it is now my best-selling product.”
3. Early trade show entry. “Even when my initial product, the SippiGrip, was still in the early stages, I took a leap and signed on as a vendor at the ABC Kids Expo Trade Show.”
BooginHead now has sales exceeding $1 million a year. Crevin credits other mompreneurs for inspiration, including Tamara Monosoff of Mom Invented and Kim Lavine of Mommy Millionaire.
Questions:
1. What, according to you, are the most important factors one should consider while choosing a brand name?
2. What factors would you consider while establishing yourself in the so-called “juvenile industry”? Explain your answer with assumptions clearly stated in the beginning of your answer.
3. With reference to the above case, what are short-term finance options available for an entrepreneur?
Assignment C
Question No. 1
All but which of the following is considered to be a myth associated with entrepreneurship?
Options
Successful entrepreneurs are born not made
First ventures are always successful
All entrepreneurs must willingly invest significant sums of money
Successful entrepreneurs must have a break-through invention
Question No. 2
A/An ______ is best described by stating it is any business that is independently owned and operated and is not dominate in its market.
Options
strategic alliance
corporation
small business
proprietorship
Question No. 3
For small business owners, one of the most important objectives is _______.
Options
market presence
growth
profitability
innovation
Question No. 4
Which of the following is not considered a common characteristic of an entrepreneur?
Options
Self-confidence
High need for achievement
Internal locus of control
External locus of control
Question No. 5
The entrepreneur who is committed to the entrepreneurial effort because it makes good business sense is classed as a/an _____.
Options
inventor
opportunist
hacker
craftsperson
Question No. 6
Jyoti is one of the newest and most successful entrepreneurs in the technology industry. She handles numerous dealings with other companies for the exchange of goods and services. Her primary goal is to ensure that all parties involved receive favorable and acceptable terms. Jyoti is most probably excellent at the entrepreneurial skill of _______.
Options
negotiating
networking
leadership
analysis
Question No. 7
The steps involved in an entrepreneurial endeavor include all but which one of the following?
Options
Hiring a partner
Selecting the type of legal structure
Obtaining financing
Business plan formulation
Question No. 8
The ideas for new businesses that are obtained by entrepreneurs are derived from many sources. These various sources include all but _______.
Options
replication of an existing business
trade journals
family members
children
Question No. 9
Common reasons for entrepreneurial failure include all but which one of the following?
Options
Poor implementation
Lack of capital
Adequate financial support
Faulty product design
Question No. 10
A/An ________ is defined as the blueprint describing the business strategy for entering the marketplace and explains the business to potential investors.
Options
competitor analysis
spin-off
business alliance
business plan
Question No. 11
Of the following, which one is not considered a key component of a business plan?
Options
Sources of funding
Market trend analysis
Methods for dissolution of the organization
Description of products or services
Question No. 12
A(n) ________ is defined as a form of business that is an association of two or more people acting as co-owners of a business.
Options
proprietorship
partnership
corporation
conglomerate
Question No. 13
Which one of the following would not be considered an advantage to a partnership formation?
Options
Potential for double taxation
Less governmental control
Ease of formation
Direct share of profits
Question No. 14
Which one of the following would not be considered a disadvantage of a corporation?
Options
Limited continuality of life of enterprise
Extensive government regulations of activities
High incorporation fees
Corporate capital, profits, dividends, and salaries are double taxed
Question No. 15
Entrepreneurships require financial backing in order to get started in the business world. Which of the following is not one of the methods commonly utilized to obtain the financial resources needed?
Options
Equity
Commercial loans
Personal finances provided by friends
Venture capitalists
Question No. 16
_________ financing is raising money by selling part of the ownership of the business to investors.
Options
Debt
Equity
Venture capitalist
All of the above
Question No. 17
Of the following, which one would not be considered an alternative to independent entrepreneurship?
Options
Franchise
Spin-off
Intrapreneurship
Extrapreneurship
Question No. 18
Of the following, which is best identified as an independent entrepreneurship that produces a product or service that originated in a large company?
Options
Spin-off
Franchise
Intrapreneurship
Diversification
Question No. 19
Of the following, which is best identified when a business with an established name and product is sold to additional owners along with the rights to distribute product?
Options
Intrapreneurship
Entrepreneurship
Franchise
Spin-off
Question No. 20
Management tactics purported to maximize innovation for an entrepreneurship include all but which of the following items?
Options
Cutting of losses
Culture
Benchmarking
Capabilities
Question No. 21
______ is best described as doing something differently and has been described as discontinuous or complementary change.
Options
Entrepreneurship
Innovation
Variance
Enterprise
Question No. 22
In franchising, the entrepreneur assumes fewer risks because the franchise provides all but which one of the following?
Options
Established market for the product
Management assistance in operating the business
Economies of scale for purchasing
Oversale of rights
Question No. 23
Fewer, larger buyers is the key characteristic of _________
Options
Business market
Consumer market
Both a and b
None of the above
Question No. 24
Because of the _________ and the importance and power of large customers, suppliers are frequently expected to customize their offerings to the individual business customer needs.
Options
Larger customer base
Mid-sized customer base
Smaller customer base
None of the above
Question No. 25
_________ is the demand for business goods which results from the demand for consumer goods.
Options
Inelastic demand
Derived demand
Fluctuating demand
None of the above
Question No. 26
What is innovation?
Options
The establishment of new methods of production, supply and distribution
The renewal and enlargement of the range of products and services and the associated markets
The introduction of changes in management, work organization, and the working conditions and skills of the workforce
All of the above
Question No. 27
Why do entrepreneurship and innovation go hand-in-hand?
Options
Entrepreneurs are both owners and managers of the business, so they are more likely to take calculated risks to pursue business opportunities
Entrepreneurs have the capability and motivation to pursue innovative commercial opportunities that are riskier and more radical than normal.
Entrepreneurs identify business opportunities and assemble the resources and capabilities needed to create value
All of the above
Question No. 28
What is a “born global” firm?
Options
A firm that exploits commercial opportunities that arise from bridging resource inputs and market niches in different global locations
A firm that has positioned itself as an international entrepreneurial broker
A firm that is, from its beginnings, immediately or very quickly reliant on a global presence to survive and succeed
All of the above
Question No. 29
Bobby believes that what takes place within his new company is mostly the result of fate or factors that are outside of his control. It could be stated that Bobby possesses a/an ______.
Options
innovative spirit
external locus of control
high need for achievement
internal locus of control
Question No. 30
Which of the following is not of the three generic forms of innovation activity in the organization’s innovation location framework?
Options
Sensing
Pooling resources
Responding
Implementing
Question No. 31
Which of the following is not of the four types of distribution configurations in the organization’s innovation location framework?
Options
Local-for-global.
Centre-for-global.
Local-for-local.
Local-for-centre.
Question No. 32
What are the key drivers for the internationalization of innovation activities in an organisation?
Options
Political power-seeking.
Monopoly-seeking.
Rent-seeking.
None of the above.
Question No. 33
All of the following are true, except:
Options
Ambidexterity is the ability of a firm to be embedded into domestic market R&D and innovation networks.
Ambidexterity is the ability of a firm to manage effectively today’s and tomorrow’s business demands.
Ambidexterity is the ability of a firm to be aligned and efficient in its management of today’s business demands and to be adaptive to changes in the environment.
Ambidexterity is the ability of a firm to continually come up with new technology platforms and new products, but also to improve current product lines.
Question No. 34
What are small and medium sized enterprises (SMEs)?
Options
Indian manufacturing firms qualify as SMEs if they invest less-than US$2 million in plant and equipment.
SMEs are firms with less-than 500 in the US.
SMEs are firms with less-than 250 employees in Europe.
All of the above.
Question No. 35
Which of the following are true, except:
Options
SMEs often lack financial resources.
SMEs often lack scale and scope.
SMEs often lack entrepreneurship, innovation and adaptation.
SMEs often lack manpower.
Question No. 36
Which of the following statement is true about the degree of involvement in international trade and FDI of small firms?
Options
In the European Union, more than seventy-five percent of all SMEs export or have exported at some point during the last 3 years.
A relatively small number of SMEs sell products and services outside their domestic market, compared to the total number of active SMEs.
SMEs are more prominent than large multinational firms as sources of FDI.
Most SMEs in the United States and India are actively engaged in international trade and FDI
Question No. 37
Which of the following are key areas of dispute about “born global” firms?
Options
Are born-global firms really global in terms of their cross-border trade and/or FDI, or are they regional?
How quickly does a small firm need to develop a global presence to be called a born global firm?
Is a firm born global (or global at all) if it simply exports and imports products and services and has no FDI ?
All of the above
Question No. 38
Why is it more likely that a small firm is “born regional”?
Options
Given their limited resources small firms can be expected to reduce risk by selecting nearby countries in their home region as the final destination of their internationalization strategy from inception
Small and young ventures may be able to acquire information about local customer’s preference and/or local business practices more easily in nearby countries, and to adapt their products and services more easily to meet the specific needs of local customers in the same home region.
The resources and capabilities internalized within firm boundaries can be exploited more easily in similar institutional contexts within regions than across different regions
All of the above
Question No. 39
What is dynamic capability?
Options
The firm’s ability to integrate, build, and reconfigure internal and external competences to address rapidly changing environments.
The firm’s ability to maximize profits through international business activities
The firm’s ability to grow quickly on the basis of temporary opportunities
The firm’s ability to focus on wealth-creating activities
Question No. 40
How do SME managers know which markets to enter?
Options
Through the use of social networking sites, e.g. LinkedIn and Facebook
By learning the language of the potential target country markets
By clicking Google maps
None of the above
We Also Provide SYNOPSIS AND PROJECT.
Contact www.kimsharma.co.in for best and lowest cost solution or
Email: solvedstudymaterial@gmail.com
Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only)