DCM3201 ENTREPRENEURSHIP DEVELOPMENT MARCH 2025

Description

SESSION	MARCH 2025
PROGRAM	BACHELOR OF COMMERCE (B.COM)
SEMESTER	VI
COURSE CODE & NAME	DCM3201 ENTREPRENEURSHIP DEVELOPMENT

 

 

Set – 1

 

 

Q1. (i) Define the term Entrepreneurship. Discuss the elements of Entrepreneurship.

 (ii) Elaborate on the functions of the District Industries Centre.

Ans 1.

1. Definition of Entrepreneurship

Entrepreneurship refers to the process of identifying a business opportunity, taking risks, and organizing resources to establish and manage a new venture with the aim of making a profit and contributing to economic development. It involves innovation, creativity, and the ability to turn ideas into successful enterprises. An entrepreneur is someone who assumes financial and operational risks to bring innovative ideas to life.

Elements of Entrepreneurship

There are several key elements that define entrepreneurship. The first is innovation, which includes developing new products, services, or processes that add value to the market.

 

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Q2. Explain the objectives of linking creativity and innovation in entrepreneurship.    10

Ans 2.

Linking Creativity and Innovation in Entrepreneurship

In the modern competitive business environment, creativity and innovation are central to entrepreneurial success. Creativity refers to the ability to generate new and original ideas, while innovation is the process of implementing those ideas into practical and profitable outcomes. The integration of these two elements enables entrepreneurs to develop unique products, services, and solutions that address market needs and create competitive advantage.

Objectives of Linking Creativity and Innovation

The first objective of linking creativity and innovation is to differentiate the business from

 

 

Q3. (i) Explain the qualities of a mentor.

(ii) Enumerate the concept of SWOT analysis.

Ans 3.

1. Qualities of a Mentor

A mentor is an experienced individual who offers guidance, support, and advice to someone less experienced, typically in a professional or educational context. In entrepreneurship, mentors play a crucial role by helping aspiring entrepreneurs navigate complex business challenges and make informed decisions. Certain qualities make mentors particularly effective.

One essential quality is experience and expertise. A good mentor has extensive knowledge in the relevant industry and is familiar with the hurdles and opportunities that entrepreneurs

 

 

Set – 2

 

 

Q4. (i) Explain the feasibility study in a business plan. How feasibility study is different from a business plan?

(ii) Explain the different stages of financing by venture capitalists.

Ans 4.

1. Feasibility Study in a Business Plan

A feasibility study is a detailed analysis that assesses whether a proposed business idea is viable, sustainable, and profitable. It is conducted before the preparation of a formal business plan to determine whether to proceed with the business idea. A feasibility study investigates multiple aspects such as technical feasibility, financial viability, legal compliance, market demand, and organizational capability.

Technical feasibility evaluates whether the product or service can be produced with the

 

 

Q5. (i) Mention the documents required for trademark in India.

(ii)Discuss any four common characteristics of high-growth new ventures.       

Ans 5.

1. Documents Required for Trademark in India

A trademark is a legal protection granted to a brand name, logo, slogan, or any other distinctive mark associated with a business. In India, the registration of a trademark is governed by the Trade Marks Act, 1999. To file for a trademark, several important documents are required to complete the application process.

First, the applicant must provide a copy of the logo or brand name in JPEG format. It should be clear and visually distinct to ensure it is not already in use or similar to an existing

 

 

Q6. (i) Describe testing of hypotheses in a Lean Startup. Analyse the steps involved.

(ii) Explain different stages of business. At which stage is harvesting possible. 

Ans 6.

1. Hypothesis Testing in a Lean Startup

In the Lean Startup methodology, hypothesis testing is a fundamental approach used to validate business ideas with minimal resources. It involves creating assumptions about the product, customer behavior, or market and then testing those assumptions through experiments. The goal is to learn quickly and iterate before investing heavily in product development.

The process begins by formulating a clear hypothesis, which is a statement that can be tested.