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Entrepreneurship and Venture Capital Management
June 2021 Examination
1. M/s ABC is selling a mobile from last 9 Months. The sales have dropped for their existing model. Company has been facing competition from newly launched products by competitor. The competitors have innovated their products recently. As a consultant explain why Innovation is important to M/s ABC. What are two types of Innovation the organization should apply and provide examples for both the types of innovation for M/s ABC? (10 Marks)
Ans 1.
INTRODUCTION:
For building a new entrepreneurial enterprise, both innovation and entrepreneurship is required so that a commercial venture can be established successfully. Many businesses are still looking for new ways to combine these two ideas to drive business.
Innovation is the starter of novel merchandises, services, processes, sources of supply, or organizational structures into a market or sector. The goal of innovation is to help a company develop and renew itself
2. Elaborate a business model canvas for any start-up ideas that you have or any of new business that you can think of. (10 Marks)
Ans 2.
INTRODUCTION:
Earlier, the business organizations were very much dependent on various tools for building the models of their business, for implementing strategies and even for the innovations. Due to the complexity and time-consuming research process, the idea was dropped or say started to decline. Today’s startups, especially those in the technology field, cannot afford such amenities. For staying ahead of the competition, they need to develop quickly, and reinvent as many times as possible, they need a fully
3. One of your friends Ram has set up a new e-commerce company recently. E-commerce set-up typically would need employees with high customer responsiveness. Company is envisaged to have average age group of 32 to 35 over a period of next 5 years’ growth / hiring.
a. What are different traits that you recommend your friend to consider while hiring the leadership team. List at least three characteristics that you would recommend Ram to consider, while hiring any staff member. (5 Marks)
Ans 3a.
INTRODUCTION:
A leadership team is a group of managers, educators, and other members of staff who effectively influence the critical decisions for governance and/or guide and organize development programs for the organization. They are the company’s financial and organizational executives. They define priorities, plan a policy, and ensure that the strategy is carried out successfully.
b. Under what circumstances do you recommend firing of employees and what steps do you recommend to manage sensitivities around firing of any employee
Ans 3b.
INTRODUCTION:
Getting fired refers to whether an employer terminates a worker’s job against his or her wishes. There are a number of reasons why companies dismiss their workers. Most people, on the other hand, do not need a legitimate excuse to terminate their jobs.
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