ASSIGNMENT – Entrepreneurship Development and Small Business

Entrepreneurship Development

Q:1 It can be defined as a process of improving the skills and knowledge of entrepreneur through various training and
classroom programmes. Identify the term.
Q:2 What is meant by Start-Up India Scheme? Discuss the features of Startup India Scheme.
Q:3 Define Intellectual Property Rights.Why Intellectual Property Rights are important?
Q:4 State any three ways to fund start up.
Q:5 Explain the process of Entrepreneurship Development.
Q:6 Why is Entrepreneurship Development important?
Q:7 What are the benefits given to entrepreneurs for establishing startups?
Q:8 Why is there a need to develop entrepreneurs?
Q:9 Aman is a musician.He created a lot of musical notes for his upcoming video.He presented his compositions to his uncle
Raj.Uncle Raj used most of the musical compositions of Aman in his video.What could have Aman done to save his work?
Identify and explain it.
Q:10 Is there any programme launched by the Government to protect the inventions by entrepreneurs?
Q:11 Entrepreneurship is dynamic.Explain.
Q:12 Explain Angel Investment and Venture Capital financing as a way to fund start up?
Q:13 ITC Ltd. challenged Britannia Industries Ltd. for the use of their trade secret of no added sugar and no maida in a range
of their biscuits named Sunfeast Farmalite Biscuits.As per the former Company, latter Company’s product Nutrichoice
Digestive Zero was also a no added sugar and no maida product and also had a packaging which was deceptively similar to
product packaging of Sunfeast Farmalite.Allegedly, both the products were being sold in the colour combination of yellow
and blue.
a) Which concept of business protection laws can help ITC Ltd. to protect themselves against Britannia Industries?
b) What is the basic purpose served by the above identified concept?
Q:14 Endless Robotics was started in 2016 with the vision of making intelligent robots that can be used by people,
businesses ,industries and governments across the world to solve problems that directly or indirectly impact quality of human
resources , capital, environment and global lifestyles.This company is working towards innovation, development or
commercialization of processes driven by technology. This company with the simple mindset of helping the world make a
seamless transition into the Industrial Revolution.
a) Identify under which flagship initiative of Government of India Endless Robotics was started?
b) State the meaning of enterprise established under the flagship initiative of Government of India.
Q:15 Latha has decided to persue a Startup Venture to offer organic pet food.She has already done a self introspection to be
assured of her potential in the concerned field.Furthermore, she has conducted an online research with participation of pet
owners , regarding the extent to which the need of availability of organic food is unsatisfied
a) Identify the steps involved in the process of entrepreneurship development which have been discussed in the above
paragraph.
b) State briefly the remaining steps which need to be carried out by Latha in order to complete the process.
Q:16 Narayana Murthy , he is an Indian IT industrialist and co-founder of Infosys , a multinational company providing
business consulting, technology, engineering and outsourcing services.Murthy and six software professionals founded Infosys
in 1981 with an initial capital investment of Rs 10,000 which was provided by his wife Sudha Murthy.
Identify and explain the concepts which are being highlighted in the given paragraph in context of establishment of the
company.
Q:17 After doing M.Com from Himachal Pradesh University Of Shimla, Komalika went back to her village in Kinnaur district
of Himachal Pradesh. She wanted to contribute for the development of women of her village , so she formed an organization,
the membership of which was open for all the women villagers on a voluntary basis by paying Rs 500 only which will be
treated as their capital.Komalika knew that the land of her village was suitable for the farming of medicinal plants. So she
motivated the members of her organization for growing medicinal plants in their fields under the guidance and help of local
agricultural department. It was also decided that the organization will purchase the produce of each member and sell the same
to drug manufacturing companies at a very good price which was not possible for the members individually.A computer
training center for young boys and girls of the village was started under the guidance of Komalika from te surplus of profits.
a)Name the process that helped Komalika in developing an idea into an opportunity.
b) Identify the kind of organisation formed by her.
SMALL BUSINESS

Q:1 Give two egs. Of traditional industries and two egs. Of modern small industry.
Q:2 What are the different parameters used to measure the size of business?
Q:3 State the features of cottage industry.
Q:4 What is the definition used by the Government of India for small scale industries under MSMED Act.
Q:5 What are the investment limits for micro manufacturing enterprises and micro service enterprises.
Q:6 What is the parameter used by the government to identify manufacturing enterprises.
Q:7 What is the parameter used by government to identify service enterprises.
Q:8 What is the investment limit in plant and machinery for medium manufacturing enterprises?
Q:9 Manish has set up a manufacturing unit to produce all kinds of school and office supplies such as pencils,pens,paper of
different varieties,notebooks etc. in Noida.His total investment in Plant & Machinery is about Rs 3 Crore.Identify the category
into which his business will fall as per the Micro,Small & Medium Enterprises Development(MSMED ) Act,2006.
Q:10 Being an animal lover himself,Rajesh recently started a business of offering Mobile Pet Grooming at the convenience of
the doorstep of the clients.His total investment in the equipment is Rs 8 lakhs.In what category will his business fall under
Micro,Small & Medium Enterprises Development(MSMED)Act,2006.
Q:11 Amar completed a vocational course in entrepreneurship,after his school education.Finding the job market tough,he
decided to set up his own business in his hometown village.He set up an enterprise investing Rs 20 lakhs in plant &
machinery,manufacturing hand bags.He also employed 20 youths from his village as well as from the nearby
villages.Gradually,due to his hard work and committed work force his business expanded and he converted his small town
business into a company amar & Sons Private Ltd. under companies Act,2013.Once a Tourist Richmond from London visited
his village and happened to meet Amar,Who is now CEO of Amar & Sons Private Ltd.Mr. Richmond told Amar that he wants
to invest in the company to share the profits of the company though he does not want voting right.
a)Identify the category of small manufacturing enterprise initially set up by Amar.
b) Also name the other two categories of the similar business and their features.
c)Which security can be issued by Amar & Co. Pvt Ltd for people like Mr. Richmond.Also discuss its meaning
Q:12 Give the classification of enterprises in accordance with the provisions of Micro, Small and Medium Enterprises
Development Act,2006.
Q:13 The Board of Directors of Bio Pure Water Ltd. decided to set up its first unit in the hilly area of Himachal Pradesh.The
company decided to invest Rs 50 lakhs to aquire plant and machinery,Rs 1 crores to buy land, Rs 25 lakhs to buy raw material
and Rs 20 lakhs to maintain day to day expenses.
A)Name the Act of industries which is applicable to the above industry.
b)Which category of part (a) will the above industry come?
c)State the investment limits in this category.
d) Write any one commercial reason for setting up of unit in the hilly region.
e)According to you, what are the options available to the company for meeting its long-term and short-term needs.
Q:14 What percentage do small industries contribute to total exports from India.
Q:15 How much small industries in India account for total industrial units?
Q:16 Do you think small business units can survive in a competitive market?Explain the factors which make way for the
scope of small business enterprises?
Q:17 How do the small scale industries contribute to socio-economic development of India?
Q:18 How does small business help in improving economic conditions of rural India?
Q:19 How small business contribute to balanced regional development?
Q:20 Abhimanyu is running a small catering business in Delhi wherein the food is prepared purely as per customized
specifications.He had started this business primarily because he perceived an opportunity for entrepreneurship in it due to
changing lifestyles of people.He gives the option to the clients to either take delivery of readymade dishes from his unit,only
on prior order basis,or there is also a provision for his team members to visit the client’s houses and prepare the dishes there
itself.He caters to parties with 10 people onwards and offers a wide range of cuisine to choose from like
Indian,Continental,Thai to name a few.He endeavours to maintain a personal touch and good personal relations with both
customers and employees.As the size of the organization is small quick and timely decision can be taken without consulting
many people,unlike a large sized organization.the government does not have to interfere in the functioning of a small scale
unit.In context of above case:
a)Identify the various points highlighting the role of small business in above case study.
b)Also mention any three other reasons because of which role of small business cannot be overlooked in our country.
Q:21 Name a few areas where SSI’s feels threatened with the onslaught of global competition.(Technological skill,Quality
standards, managerial and marketing competencies of MNC’s)
.Q:22 What provides competitive strength to small business.
Q:23 How small business is able to take advantage of business opportunities timely.
Q:24 Since small scale industries can be widely spread and benefits of industrialization can be reaped by every region.How
does this feature of SSI contribute to the country?
Q:25 Bhuvan wants to start small scale industry manufacturing Khadi items.His friend who is making craft items,suggests him
to start an industry as government is offering various benefits to small scale industries.
a)State the institutions set up by government of India to help small scale industries.
b) State any five incentives offered by government for SSI.
Q:26 Name the institute which provides an administrative framework for small scale industries at district level.Also explain
how it promotes small business.
Q:27 Yaangba lives in Manipur.He has started a jute bag making business on a small scale basis.With the increasing awareness
about the environment pollution the demand for the jute bag has increased exponentially.Jute fabrics are strong,durable,light,
colorfast,attractive and cheaper than most fabrics made from other fibers.These are anti-static,UV protective,carbon dioxide
neutral and naturally decomposition is possible.There are a lot of uses of a Jute Bag.Jute sacking bags are mainly used for
packing cement,sands,agro products,sugar and other bulky items.These bags are ideal for transporting bulk food items like-
onion,potatoes,flour,rice and fertilizers.Apart from these,colourful decorative jute shopping bag has very good demand.
Briefly describe any one agency he can approach for seeking assistance in setting up his business. (DSIC)
Q:28 Shenoy after completing his graduation want to start a factory for the production of stylish and reasonable jute bags as
an alternative to plastic bags.He has no idea how to start a factory.He discussed the matter with his friend Gurpreet,who is
running a craft item factory.Gurpreet suggested him to start a factory in a backward rural area and can avail benefits of various
schemes launched by the government for opening of small scale industries.
a)State the institution set up by government of India to help small scale business.
b) State any three incentives offered by government for small scale industries.
Q:29 Name the institution which was set up in 1955 to promote the growth of SSI.
Q:30 Parineeta has set up in a Ghaziabad unit to manufacture various types of home decoration items.She deals in various
kinds of vases,chimes,figurines, and other things that can beautify houses.She now wishes to export her products to different
countries and develop export-worthiness.In context of the above case:
a) Briefly describe any one such agencies that she can approach in this regard. (NSIC With its functions)
Parineeta wants to safeguard that her business unit scores a higher rating when she approaches the financial institutions for her
increased financial requirements.How can she ensure this?
Q:31.what is the purpose of NSIC.expalin the various function rendered by NSIC to promote small business
Q:32 what are the incentives/subsidies provided by Government for industries in backward and hilly areas.
Q:33 Give full form of NSIC and DIC.
Q:34 Name the scheme launched by NSIC to rate small business.Also explain the need for such a scheme.
Q:35 What institutional measures have been taken by government for promotion of small industrial units.
Q:36 State few forms of support to SSI by the government.
Q:37 Sanjay has been born and brought up in Delhi. When he joined college, he made good friends with Satya Prakash who
belong to a village in Assam. On the onset of summer vacations, when Satya Prakash extended an invite to Sanjay to visit his
village , Sanjay accepted the proposal immediately. On visiting the village,Sanjay observed that the villagers are engaged in
different types of business activities which can be carried out successfully with the help of local talent and resources.Also,
these businesses are able to provide customized services to the local villagers in order to fulfill their specific needs.State any
four other points highlighting the role of small business which has not been mentioned in the given paragraph.