April 2003

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Entrepreneurship

N. B. 1) Question numbers 1 and 2 in Section I are compulsory.

2) From question numbers 3 to 7 in Section II answer any three.

3) Figures to the right indicate full marks.

4) Support your answer with examples wherever possible.

Section I

(1)    Explain the following concepts (10):

(a)    Acquisitioning,

(b)   Franchising,

(c)    Entrepreneur v/s Intrapreneur,

(d)   Elements in process of innovation,

(e)   Customization.

(2)    Analyse the following case and answer the questions given at the end.

Nilam Patnekar is one of the many women who own their own businesses and he experience is not very different from others, who must contend with being a mother, a spouse and a family cheerleader in addition to owning and operating a business. Nilam is more successful than most women. She became a Lakhpati at the age of 28.

She is the owner and president of ‘Sonica Industries’ a hardware company. The company markets various industrial accessories. It was her first business, though she had some family background of this business. Her two brothers were also in same line of business. But she borrowed some money, put in some of her savings and started her own venture. She was the first woman ever to enter into this business, most of her clients could not understand that a woman could sell industrial hardware.

During her rise to success and in management of her business, she also managed a family, stayed involved with school and community affairs.

In Nilam’s mind, there is nothing more exhilarating than owning her own business, and for her, the fun is in facing the challenges of making the film grow.

Today, more and more women are making this choice rather than pursuing traditional careers. For the past few years, the number of women starting new ventures is three times as large as the number of men. There are several good reasons for this trend. Some women find that owning of business is the only way to combine a decent income with time for their children by having the flexibility to control their schedules. Others see themselves as unlikely corporate managers and recognizing the gender problem that exists for achieving success, they choose the entrepreneurial route. Still others see entrepreneurship as a way of controlling their lives, pursuing interests that would be impossible in a corporate job.

The dual roles of mother and entrepreneur often conflict, and husbands and wives tend to develop separate career tracks that often cannot be reconciled. Women can also find it lonely in a business world, especially if clients are predominantly men, this was a problem for Nilam too.

Many women, however, have businesses that fit well with their interest and with women customers. These include services in beauty care, nutrition, education, entertainment etc. nevertheless, being in business often exacts a double price for women, yet for those with determination like Nilam, the rewards are always waiting.

 

Questions:

(a)    Why many women nowadays prefer to start their own ventures, rather than pursuing traditional career paths? (5)

(b)   Describe the profile of an independent woman entrepreneur with reference to the given case. (7)

(c)    Describe opportunities that women might find rewarding as business ventures, also discuss the advantages and disadvantages of unusual enterprises such as industrial hardware in the case.

 

Section II

(3)    Explain the characteristics of successful entrepreneurs with reference to any successful entrepreneur. (10)

(4)    Do you feel the service sector creates more job opportunities than the manufacturing sector – if yes, give reasons. (10)

(5)    Give an account of the emergence of entrepreneurial class and elaborate the various types of entrepreneurs. (10)

(6)    As a consultant, how would you plan the project for your client? (10)

(7)    Explain the concept and importance of outsourcing in Indian economy. (10)

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