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Entrepreneurship Management
June 2024 Examination
Q.1. JAMES, is an aspiring entrepreneur, who has completed his academic and
professional experience in the Business field. He has an innovative idea for a new startup,
but lacks capital for the same. Hence, he approached to a few angel investors for the
same. In order to get a proper funding James needs to show that his start-up idea is
viable. State details of what JAMES needs to present in order to get a proper funding.
Give reasons for the same. (10 Marks)
Ans 1.
Introduction:
In the realm of entrepreneurship, innovative ideas often emerge from individuals like James
who possess academic and professional expertise in the business field. However, the
translation of these ideas into successful ventures frequently hinges on securing adequate
funding. For James, who finds himself in this common predicament, seeking support from
angel investors becomes imperative. Nonetheless, merely approaching investors is
insufficient; James must meticulously prepare to showcase the viability of his startup idea.
This necessitates a comprehensive presentation that not only highlights the novelty of the
concept but also demonstrates its potential for success in the market. In this discussion, we
delve into the essential components James needs to include in his presentation to secure the
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Q2. The evolution of Entrepreneurship has started from the Marco Polo ear before 18th
century. Since then, there have been immense changes in the entrepreneurial sector as
there are many new trends that have emerged. State whether the above statement is
True or False. Give reasons with suitable examples for your answer. (10 marks)
Ans 1.
Introduction:
The assertion that entrepreneurship traces its roots back to the Marco Polo era before the 18th
century raises intriguing questions about the historical trajectory of entrepreneurial activities.
However, it is essential to critically examine this claim to understand the true origins and
evolution of entrepreneurship. While trade and commerce have existed since ancient times,
the modern concept of entrepreneurship, characterized by innovation, risk-taking, and value
creation, has evolved over centuries. In this introduction, we will explore the validity of the
statement and provide insights into the historical context of entrepreneurship. By delving into
key historical milestones and examining how they have shaped the entrepreneurial landscape,
we can gain a deeper understanding of the evolution of entrepreneurship and its significance
in driving economic progress and societal change. Ultimately, this exploration will enable us
Q3. Apar Institute is an institute that conducts entrepreneurship development
programmes at the outskirts of Delhi. The institute was formed 2 years ago and was
facing difficulties in providing quality training to the prospective entrepreneurs.
There was a slew of problems related to the institute for budding entrepreneurs.
Firstly, the institute was located at a remote location which was arduous for people to
locate. Even if someone located the institute, it was difficult to commute from home to
the institution as it was located far from the city. The institute lacked proper training
infrastructure such as mic, overhead projector, furniture etc.
Even the faculty appointed by institute showed a lackadaisical attitude and did not take
a keen interest in teaching. The method of selecting the candidates was also flawed as
there was no prior aptitude test or scrutiny. Hence, who so ever came to get enrolled for
the programme was given admission. It was assumed that the candidate would already
possess the required aptitude skills.
The course and curriculum did not cover the basic aspects of entrepreneurship
development programme such as educating about institutes providing support, which
financial institutes to approach for funds, performing feasibility studies, etc. The
duration of the programme was very short. The programme lasted for 21 days, which
was very less considering the quantum of time required. Even after completion of the
program, there was no evaluation performed to check how many candidates have
established their own enterprise and how it is being run.
The institute owner decided to change the way the institute is functioning. The owner
emulated a government-run institute in an urban area and incorporated the
required changes. Firstly, the institute decided to appoint more enthusiast and
motivated trainers to impart education. The infrastructure of the institute was
revamped and replaced with quality equipment. The institute even conducted online
classes for candidates who could not commute to the institute. The course and
curriculum were aligned with the fundamentals of the entrepreneurship development
programme. At last, a thorough evaluation was done for each candidate who was
enrolled in the programme. At last, a thorough evaluation was done for each candidate
who was enrolled in the programme to gauge how much the program benefited the
candidate.
Q3A. If you were the Management head of Apar Institute, what changes you need to
incorporate to attract more number of students? (5 marks)
Ans 3a.
Introduction:
As the Management Head of Apar Institute, the goal is to identify and implement necessary
changes to attract more students to the entrepreneurship development programs offered by the
institute. Addressing the existing challenges and aligning the institute’s offerings with the
needs and expectations of prospective entrepreneurs is essential to enhance its appeal and
reputation. In this response, we will explore key changes that need to be incorporated to
attract a larger number of students to the institute’s programs.
Concept and application
1. Enhanced Marketing and Outreach Efforts: One of the primary strategies to attract
more students to Apar Institute is to improve its marketing and outreach efforts. This
Q3B. If the Apar Institute had to do a competitor analysis which tool, would you
recommend them and how would they utilize the same. (5 marks)
Ans 3b.
Introduction:
In the fiercely competitive landscape of entrepreneurship development programs, conducting
a thorough competitor analysis is crucial for Apar Institute to gain insights into its
competitors’ strengths, weaknesses, strategies, and market positioning. Choosing the right
tool for competitor analysis can significantly impact the effectiveness and depth of the
insights gained. In this response, we will explore a recommended tool for competitor analysis