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ENTREPRENEURSHIP Class 11 Ch 3
TIME ALLOWED: 1 HOUR MAXIMUM MARKS: 30

1. What are the initial steps an organization should take after establishing its mission, vision,
and strategy, focusing on its core competencies? [2]

2. Entrepreneurship journals, books and available literature are filled with stories of
Entrepreneurs striking it rich because they had a great ideas. These, however, tend to give a
false impression about great workable ideas. Analyse any two such misconceptions about
great idea. [2]

3. What are the key elements that should be included in the General Introduction section of a
business plan? [2]

4. What are focus groups and discuss the way they function. [2]

5. Explain any two structured approaches that might be adopted to generate ideas. [2]

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6. Describe the key actions an organization must undertake to ensure the successful

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implementation of its strategy. [3]

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7. Discuss briefly any six features of a feasibility study of a business plan. [3]

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8. Explain any three misconceptions related to Business idea. [3]

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9. Read the following passage carefully and answer the questions that follow: GreenTech
Innovations, is developing a new line of eco-friendly home appliances. To refine their

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product concepts, they decide to conduct a group session. The group consists of
environmentally conscious consumers and is led by a skilled moderator. The moderator
presents the proposed designs of the appliances and asks specific questions to gather A
feedback on their functionality, design, sustainability, and potential market appeal.
a. Identify the method mentioned in the above passage to generate idea.
b. Describe how the focus group session conducted by GreenTech Innovations can be
beneficial in the product development process, as outlined in the provided passage.
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[3]
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10. Read the following passage carefully and answer the questions that follow:
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Nandita Bijur 'It's a dream come true'.

People all around were saying, "There goes Malti's daughter, the successful business
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woman'. Nandita was a brave child, a strong headed youngster who had a dream which has
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reaped successful results. She is the owner of Uma Food Products, an enterprise worth
several crores of rupees today. How do you convert childhood pain and humiliation into
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ammunition for success? How do you take many small negatives and turn it into a huge
positive? Nandita Bijur is the best person to answer these questions because this is exactly
what she did. Tall and attractive, Nandita exudes strength, determination and drive. She
started her business with an investment of only ₹ 5000 from her personal savings and
through sheer grit and hard work, turned it into a huge success.

Nandita never had a childhood

Nandita's childhood was very traumatic and left many scars on her psyche. When she and
her elder brother were only about six and eight, their mother, Malti, fell ill. It was a long
drawn illness. Since their father was away at work most of the time and there was no one
else to take care of her, Malti was moved to her father's house (Nandita's maternal
grandfather's house.) Malti needed a great deal of care and attention and she lived in her
father's house for over fifteen years. While still a child, Nandita was thrust into the role of
the "women of the house." She never had much time to go out and play like the other little
girls in the neighbourhood. She had to take care of her brother and father. They seemed to
lean on her for support. She shopped and cooked and went to school. She was always tired
and often it was a struggle to stay awake to do homework. Sometimes she was so tired in
school that her eyes would automatically close and her head drop on her desk. She

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remembers wanting pretty dresses to wear and colourful ribbons in her hair like the other
girls. But there was no one around to take her for shopping. Her father did the best he

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could, but he couldn't do very much. She had two aunts who were kind and loving and she
is eternally grateful to them. The highlights of her life were those rare occasions when

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someone took her to visit her mother. She loved her mother dearly and her heart ached for
her and she desperately wished she could wave a magic wand and make her well. But her

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mother's condition did not improve.

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Nandita's inner strength and determination surfaces

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Most relatives were not very kind and sometimes forgot she and her brother even existed.

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It hurt her deeply when they were not invited to their first cousin's wedding. Relatives
frequently referred to her as 'poor Nandita', which burned her up. Very early in her teens
Nandita decided that she was not a 'poor thing' and refused to be called that. She would
show them. She decided that a day would come when the same people who now pointed
to her and said, "There goes Malti's daughter, poor thing": would say instead, "There goes
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Malti's daughter, the successful businesswoman." Nandita's husband, a good, kind man
Nandita married in her early 20 's. Her husband was supportive. "He has a quiet strength
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that is very healing, she says. That was the beginning of her turnaround. Nandita was a
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school teacher and her husband, Pramod, a chemist. Neither had any entrepreneurs in their
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families. But they had a shared dream-to start a small business of their own. However, there
was one big problem. They didn't have the capital to invest in a business. Soon they had
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two children and they needed both their incomes to live a comfortable life.
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The idea for an ice cream mix

One evening, on his way back from work, Pramod felt like eating some ice cream. He
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noticed an ice cream mix in a store and bought it. When he got home, he asked Nandita to
make some ice cream using the mix, which she did. When they finished their dinner, they
had the ice cream for dessert. Nandita was disappointed. It just didn't taste as good as the
ice cream she had earlier made at home. That night when everyone went to sleep, Nandita
tossed and turned in bed thinking about the perfect ingredients that would make a great
ice cream mix. At about 4 am she woke up, tiptoed into the dining room, and wrote down
on a piece of paper the recipe for an ice cream mix. Little did she know then that this recipe
that she penned down on a scrap of paper in the wee hours of the morning, would, a few
years later, make them rich. When Pramod woke up in the morning, Nandita gave him the
piece of paper with the recipe for the ice-cream mix and told him, 'I know what our
business is going to be. We're going to make an excellent ice-cream mix that people are
going to love. When she made the ice cream at home with her own recipe, her kids
exclaimed, 'Mummy, this is yummy! She decided to call it "Yummy Ice-Cream." She took out
₹ 5000 from her savings account and invested it in buying the ingredients and packaging
materials.

The start of a business

At first she made the ice cream mix at home in her own kitchen. She packaged it and sold it

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to friends and neighbours. She continued with her teaching job and made the ice cream
mix in the evening. The demand for the ice cream grew in leaps and bounds. Soon it grew

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so big that she had to work all night and even enlist the help of her children and husband
to meet the demand. She realized that she would have to quit her job and do this full time

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as she couldn't do both. She recognized that she would need to rent a place to make her
products. She couldn't continue to do it at home. So she rented a small shed for her first

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factory in Jogeshwari. It covered an area of 550 square feet.

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Malti's daughter becomes a businesswoman

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Nandita got a bank loan for ₹ 70,000 for the factory premises and pledged her jewellery to

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get an additional loan for ₹ 40,000. "I was such a novice that I didn't even know that I
needed a current account to run a business," she says. The first year was very tough. Since
her business was new nobody gave her any credit. All her suppliers wanted cash, yet she
had to supply her retailers and customers on credit. At first, she couldn't afford to hire
many staff so her children helped at the factory after school. During this whole period, the
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one thing that kept her going was the determination, "Malti's daughter is not a "poor
thing." 5 / 7 Section D She told me, "I wanted to prove to myself and others that I could
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succeed and make something out of my life. I wanted my children to be wealthy. I wanted
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them to give salaries to others and not work to get a salary. These thoughts kept me going
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even during the most difficult times." As Nandita became more and more successful with
her ice cream mix, she introduced new products such as Gulab jamun mix and Basundi mix.
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She now has over 40 products. Soon her sales shot up and she hired more employees. Her
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husband still continued to work at his job. A crisis hits and almost wipes her out Nandita
hired a capable distributor for her products. Her sales quadrupled. She hired even more
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employees and moved to a bigger factory. The distributor suggested a major advertising
blitz. So, she invested ₹ 6 lakhs on TV commercials, magazine and newspaper
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advertisements, displays, bill boards and so on. Then one day, disaster struck. Nandita did
not know that there was already a company by the name of "Yummy Ice Creams" in Goa.
Nandita had not bothered to find out if the name "Yummy Ice Cream" was already
registered and trademarked by someone else. The businessman from Goa arrived with CBI
officers and stormed into her factory and her home. He threatened to sue her until she was
ruined. The distributor intervened and mediated and she also took legal advice. They
negotiated with the Goa businessman and settled out of court. This proved so expensive
that she almost gave up.
Back to square one
Now once again she had no money and nobody would give her any credit. Her accounts in
the banks had been closed down. Once again she had to pay cash for everything she
bought yet give credit to her retailers and customers. This was a very trying period. Once
again, her determination that Malti's daughter will be a successful businesswoman, kept her
going. She changed the name of her company to "Uma Food Products" after her mother-
in-law and grandmother, who were both called Uma. Her packaged mixes were renamed
"Eat-me".

Nandita and her husband save the business

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At about this time, Nandita's husband quit his job and joined the business. He became the
distributor of their products, thereby saving payments to the distributor. The first thing she

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did was to pay off the bank loan because she needed to have a bank account in order to be
able to write cheques. For this, she took a loan from a private lender at extortionate rate of

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24 %. They worked day and night and paid off all their loans. Since that time, things have
only looked up. She learned a great deal from her mistakes and felt confident to run a

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successful business venture. She has been successful running her business now for the past

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9 years. Nandita's advice to new entrepreneurs
1. Don't give up. Keep at it to succeed.

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2. Pay the creditors, suppliers and vendors on times. It builds credibility.
3. Treat employees like family. If employers are happy, one's business will be successful.

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Read the passage above and answer the questions given below:
a. Identify the approach undertaken by Nandita to generate idea according to the
above passage.
b. For generating idea through the above technique, a number of specific approaches
can be used. List two such approaches and explain them.
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c. How did Nandita expand her business product range after the initial success of the
ice cream mix?
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d. What significant challenge did Nandita face with her "Yummy Ice Cream" product?
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e. How did Nandita manage her financial crisis after the legal challenge?
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f. What advice does Nandita give to new entrepreneurs based on her experience?
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