BB0028 – Entrepreneurship Development

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Nov/ Winter 2012

Bachelor of Business Administration-BBA Semester 6

BB0028 – Entrepreneurship Development- 4 Credits

(Book ID: B0157)

Assignment Set- 1 (60 Marks)

Note: Each question carries 10 Marks. Answer all the questions.

Q.1 What are the essential characteristics of Entrepreneurship? [10]

Answer :  Entrepreneurship is the act of setting out on your own and starting a business instead of working for someone else in his business. While entrepreneurs must deal with a larger number of obstacles and fears than hourly or salaried employees, the payoff may be far greater as well.

Interest and Vision

The first factor for entrepreneurial success is interest. Since entrepreneurship pays off according to performance rather than time spent on a particular effort, an entrepreneur must work in an area that interests her. Otherwise, she will not be able to maintain a high level of work ethic, and she will most likely fail. This interest must also

Q.2Explain the different phases in entrepreneurial development programme

Answer : 1.Pre-training phase:

•Pre-training phase consists of all activities and preparation to launch training programme. Pre-training phase of EDP consists of the following activities :

•Selection of entrepreneurs for the training programme.

•Arrangements of infrastructure are for the programme like selection of place of training.

•Deciding guest faculty for the programme from education industry and banks.

•Taking necessary steps for inauguration of programme.

•Formation of selection committee to select trainees from the programme.

•Making provision with regard to publicity and campaigning for the programme.

Q.3What are the basic problems faced by the women entrepreneurs?

Answer 1. Shortage of Finance:

Women entrepreneurs always suffer from inadequate financial resources and working capital. They are not able to afford external finance due to absence of tangible security and credit in the market.

Women have a very less property and bank balance to their name. Male members of the family do not want to invest their capital in the business run by women due to lack of confidence in their ability to run venturesuccessfully.The

Q.4 What are the sources from which an entrepreneur can obtain business ideas. [10]

Answer : EXPLORING BUSINESS OPPORTUNITIES   

Sources of business Ideas

Business ideas are a starting point in the journey to starting a business. Entrepreneurs can develop or generate business ideas in a variety of ways:

• The technical skills and experience they possess. These give them opportunities to exploit what they know and can do.
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Q.5 Ms Latha G. wants to set up her own garment manufacturing unit. She needs to submit report about the project, in order to get the loan. What all essential details she should mention in the project report. [10]

Answer : How to Report Status on a Project

Your boss has asked you to take the lead on a project in your company. Maybe you are a project manager, or maybe you are not. One thing is certain. Very few people know how to report status on a project, even when they are expert project managers. The basic problem? Most people do not understand the perspective of a manager who is being pressed for information about a big project. Here are some basic rules of reporting status that you can use to further your reputation as someone who knows how to keep management and the project team informed and drive a project to success.

Q.6 Mr Rag van is the owner of Furniture manufacturing company. He needs some more

finance to get some new machines and also expand his business. Suggest the different sources of finance he could use to get the required funds. [10]

Answer : Limited Companies for extending Capital for different purpose in business, financing by two major forms:-

·         Internal sources-

·         External sources

In internal financing, the sources of finance obtained from inside of the business or organization whereas External sources, a third party is involved. Usually internal financing has no cost to the business, while the external source that a third party involved, and contain more cost for the business. The internal sources in summaries:-

·         Holding the profits instead of dividing to the share holders-

·         A tight credit control-

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