ENTREPRENEURSHIP MANAGEMENT
ASSIGNMENT A
1. Explain the emergence of entrepreneurs in society. Define the role of push and pull factors affecting women entrepreneurs.
2. Explain the relationship between Entrepreneurship and Entrepreneur.
3. What do you mean by venture capital and explain various stages of financing?
4. Select any consumer good product and discuss its planning and development stages in detail.
5. Answer any three of the following question.
a. Examine the difference between creativity and innovation.
b. State the difference between Entrepreneur and Intrapreneur.
c. Explain role of business angels
d. Reasons for failure of an entrepreneur
e. Process of setting up an enterprise.
6. What is feasibility report? What factors are required for preparing the report?
7. What is the role of commercial banks? Explain the types of assistance and finance given by them to the entrepreneurs.
8. “E-Commerce is a boon to small scale enterprises, `entrepreneurs and customers”. Explain.
ASSIGNMENT B
CASE STUDY
Case Study
Gabrielle Bonheur "Coco" Chanel
About the entrepreneur
Gabrielle Bonheur "Coco" Chanel (19 August 1883 – 10 January 1971) was the founder of the French luxury fashion house Chanel. Chanel was born in France. She was the second daughter of Albert Chanel and Jeanne Devolle, a market stallholder and laundrywoman. Chanel became a licensed modiste (hat maker) in 1910 and opened a boutique at 21 rue Cambon, Paris named Chanel Modes. Chanel's modiste career bloomed once theatre actress Gabrielle Dorziat modelled her hats in the F Noziere's play Bel Ami in 1912 (Subsequently, Dorizat modelled her hats again in Les Modes). In 1913, she established a boutique in Deauville, where she introduced luxe casual clothes that were suitable for leisure and sport. Chanel launched her career as fashion designer when she opened her next boutique, titled Chanel-Biarritz, in 1915, catering to the wealthy Spanish clientele.
Early beginning
While she failed to get steady work as a singer, it was at Moulins that she met rich, young French textile heir Étienne Balsan,While living with Balsan, Chanel began designing hats as a hobby, which soon became a deeper interest of hers. "After opening her eyes," as she would say, Coco left Balsan and took over his apartment in Paris.
In 1909 Chanel met and one of Balsan's friends, Captain Arthur Edward 'Boy' Capel. Capel financed Chanel's first shops and his own clothing style, notably his jerseyblazers, inspired her creation of the Chanel look. In 1909, Gabrielle Chanel opened a shop on the ground floor of Étienne Balsan's apartment in Paris—the beginnings of what would later become one of the greatest fashion empires in the world.
Chanel became a licensed modiste (hat maker) in 1910 and opened a boutique at 21 rue Cambon, Paris named Chanel Modes. Chanel's modiste career bloomed once theatre actress Gabrielle Dorziat modelled her hats in the F Noziere's play Bel Ami in 1912. From her first millinery shop, opened in 1912, to the 1920s, Gabrielle 'Coco' Chanel rose to become one of the premier fashion designers in Paris, France. Replacing the corset with comfort and casual elegance, her fashion themes included simple suits and dresses, women's trousers, costume jewelry, perfume and textiles.
By the 1920s, her fashion house had expanded considerably, and her chemise set a fashion trend with its "little boy" look. Her relaxed fashions, short skirts, and casual look were in sharp contrast to the corset fashions popular in the previous decades. Chanel herself dressed in mannish clothes, and adapted these more comfortable fashions which other women also found liberating.
In 1922 Coco Chanel introduced a perfume, Chanel No. 5, which became and remained popular, and remains a profitable product of Chanel's company. Pierre Wertheimer became her partner in the perfume business in 1924, and perhaps also her lover. Wertheimer owned 70% of the company; Coco Chanel received 10% and her friend Bader 20%. The Wertheimers continue to control the perfume company today.
Coco Chanel introduced her signature cardigan jacket in 1925 and signature "little black dress" in 1926. Most of her fashions had a staying power, and didn't change much from year to year -- or even generation to generation.
Earnest Beaux created the fragrance for Coco and she named it after her lucky number 5. The fragrance was a success. The signature scent was a result of her belief in superstitions; she was scheduled to show her collection on the fifth day of the fifth month. Coco informed Harper's Bazaar, "simplicity is the keynote of all true elegance", in 1923.
During the early years Chanel’s prime strategy was “simplicity is the keynote of all true elegance”. But as the brand grew and got recognition of the elite people of the west their strategy changed Chanel is now known to be a high-end luxury brand for luxury clothing and beauty product. Chanel today is a brand for the customers to want luxury product and spend the extra amount for brand and quality Chanel thus ensures brand value and quality.
In order to promote and advertise their product it uses the medium to expensive fashion shows at the most expensive places around the world with super-models showcasing their products. They also advertise in high-end lifestyle and fashion magazines.
They also retail through expensive departmental store around the world and also have their exclusive boutiques at expensive malls and five star hotels. Thus ensuring the exclusivity its customer wants.
Coco Chanel mastered the idea of creating exclusive fashion goods for the ultra rich class of customers. She focused on the theme of creating elegance through simplicity.
Her socially mixed with the high end social group of France and gained knowledge of those people to create goods for such customers.
Still today her legacy is continued as Chanel is still a brand for the ultra rich and is known for its exclusivity and latest designs and concept.
QUESTION1
What according to you are the critical factors contributing to the success of Chanel’s products?
QUESTION2
Explain the qualities of successful entrepreneur with reference to the case study?
QUESTION 3
Critically examine the statement “Optimism and determination are the twin ingredients for success” in the case of Gabrielle Bonheur
ASSIGNMENT C
Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance?
Options
Need for independence
Need for achievement
Need for affiliation
Need for authority
Andrew Carnegie is an example of entrepreneur of which century:
Options
Earliest period
19th and 20th century
Middle ages
17th century
Which of the following is alternatively called corporate venturing?
Options
Intrapreneurship
Entrepreneurship
Act of stating a new venture
Offering new products by an existing company
Which of the following factors has allowed small companies to act like they are big ones?
Options
Customers
Competition
Economic development
Technology
Gazelles are the firms with:
Options
High growth rate`
M moderate growth rate
Zero% growth rate
Low growth r
Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:
Options
Motivation
business skills
Departure point
Goal orientation
Foundation companies are formed from:
Options
Fashion
Research and development
Most popular business
winding up company
Following are the types of non equity arrangements EXCEPT:
Options
Licensing
T turnkey project
Direct export
Management contracts
Which of the following areas are preferred by women entrepreneurs?
Options
Administration
organization
Utilities
Manufacturing
Which of the following factors does not affect a person for being an entrepreneur?
Options
Gender
Education
Family background
values
Which one of the following is the fourth step in the entrepreneurial process?
Options
Developing successful business ideas
Initiating New rules
Deciding to become an entrepreneur
Growing the entrepreneurial firm
The activity which occurs when the new venture is started are called:
Options
Business skills
Motivation
Departure point
Goal orientation
Government can help in forming new venture by providing:
Options
finance
technology
infrastructure
funds
Professional support network includes following EXCEPT:
Options
Personal affiliations
Mentor
Friends
Trade associations
-All of the following are the broad categories of External forces EXCEPT:
Options
Economic forces
S Socioeconomic forces
Technological forces
Competitive forces
An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?
Options
Supplier
Retailer
Competition
Government bureau
Which of the following cannot be covered under the copyright protection?
Options
Computer software
Poems and songs
Computer hardware
Models and sculpture
The business plan should be prepared by:
Options
Entrepreneurs
Consultants
Engineers
Small business administration services
The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is:
Options
Free trade area – FTA
European community – EC
General agreement on tariffs and trade – GATT
The North American free trade agreement – NAFTA
The period in which the money person entered into a contract with the go-between to sell his goods is known as
Options
Middle ages
18th century
17th century
Earliest period
----------viewed the entrepreneur as a risk taker who “buy(s) at an uncertain price, therefore operating at a risk”.
Options
Eli Whitney
Edward hariman
Richard cantillon
Thomas Edison
A--------- is a professional money manager who makes risk investment from a pool of equity capital to obtain a high rate of return on investments.
Options
venture capitalist
entrepreneur
businessman
buyer
What is the primary concern of founders who trade equity for capital for their growing venture?
Options
Capitalization
Control
Valuation
Investor capabilities
The commitment of administrative domain to the resources is for:
Options
Periodic intervals
Total amount needed
For certain tasks
For long time
External forces directly affect all of the following EXCEPT:
Options
Market segmentation strategies
Types of products/services offered
Management structure of organization
Choice of businesses to acquire or sell
The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka and rights to distribute it in the US. This is an example of:
Options
Economic development
Balance of payment
Barter system
International trade
Which one of the following is NOT a condition of a contract?
Options
An offer is made
Consideration is given
An acceptance of offer
Contract must be illegal
Developing a new idea through inquiry and testing is called:
Options
Forced relationship
Heuristics
Scientific method
Value analysis
Entrepreneurial success has been significant because of the culture and the political and economic systems in _______.
Options
Asian countries
Eu ropean countries
Transition economies
Middle East
Members of distribution channels are excellent sources for new ideas because:
Options
They are familiar with the needs of the market
They earn a handsome profit from new business
They do not bother if entrepreneur bears a loss
They have well-developed sales force
The importance of intellectual property should be understood by entrepreneur even before:
Options
Hiring a manager
Engaging an attorney
Developing a product
Establishing new venture
Which one of the Following is not the way by which an entrepreneur can enter into international business?
Options
Export
Non equity arrangements
Direct foreign investment
Communication
A typical inventor is usually ______________________.
Options
Highly creative & in love with the invention
Does not encourage change
Willing to modify the invention
Not enthusiastic
A contract must be signed by:
Options
At least one party
Both the parties
Not necessary to sign
By third party
A patent is granted for a specified amount of time because of the assumption:
Options
That during this time firm will cover its development costs
That firm will earn a sufficient profit during this period
To limit the monopoly of the firm
That it will stimulate idea and development of a better product
Which of the following is not a source of idea generation?
Options
Consumers
Federal government
Brain storming
training
Which of the following geographical area is having least interest to U.S. entrepreneurs?
Options
Europe
The Far East
Central Asia
Transition economies
Government can help in forming new venture by providing:
Options
Finance
Technology
Infrastructure
Subsidiaries
Which of the following factors does not affect a person for being an entrepreneur?
Options
Work history
Nationality
Education
Personal values
The transitional disturbance and lack of reform has led to boom black market in:
Options
China
Hungary
Singapore
Poland