Entrepreneurship Management 2A

SECTION – A

Q1: Explain the emergence of entrepreneurs in society. Define the role of push and pull factors affecting women entrepreneurs.

Q2: Explain the relationship between Entrepreneurship and Entrepreneur.

Q3: What do you mean by venture capital and explain various stages of financing?

Q4: Select any consumer good product and discuss its planning and development stages in detail.

Q5: 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.

Q6: What is feasibility report? What factors are required for preparing the report?

Q7: What is the role of commercial banks? Explain the types of assistance and finance given by them to the entrepreneurs.

Q8: “E-Commerce is a boon to small scale enterprises, `entrepreneurs and customers”. Explain.

SECTION – B

Case Study for Amity MBA and BBA Assignments Solution

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.

Q1. What according to you are the critical factors contributing to the success of Chanel’s products?

Q2. Explain the qualities of successful entrepreneur with reference to the case study?

Q3. Critically examine the statement “Optimism and determination are the twin ingredients for success” in the case of Gabrielle Bonheur

SECTION – C

MCQ for Amity mba solved assignments

Question No. 1: Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance?
a. Need for independence
b. Need for achievement
c. Need for affiliation
d. Need for authority

Question No. 2: Andrew Carnegie is an example of entrepreneur of which century:
a. Earliest period
b. 19th and 20th century
c. Middle ages
d. 17th century

Question No. 3: Which of the following is alternatively called corporate venturing?
a. Intrapreneurship
b. Entrepreneurship
c. Act of stating a new venture
d. Offering new products by an existing company

Question No. 4: Which of the following factors has allowed small companies to act like they are big ones?
a. Customers
b. Competition
c. Economic development
d. Technology

Question No. 5: -Gazelles are the firms with:
a. High growth rate`
b. M moderate growth rate
c. Zero% growth rate
d. Low growth r

Question No. 6: Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:
a. Motivation
b. business skills
c. Departure point
d. Goal orientation

Question No. 7: Foundation companies are formed from:
a. Fashion
b. Research and development
c. Most popular business
d. winding up company

Question No. 8: Following are the types of non equity arrangements EXCEPT:
a. Licensing
b. T turnkey project
c. Direct export
d. Management contracts

Question No. 9: Which of the following areas are preferred by women entrepreneurs?
a. Administration
b. organization
c. Utilities
d. Manufacturing

Question No. 10: Which of the following factors does not affect a person for being an entrepreneur?
a. Gender
b. Education
c. Family background
d. values

Question No. 11: Which one of the following is the fourth step in the entrepreneurial process?
a. Developing successful business ideas
b. Initiating New rules
c. Deciding to become an entrepreneur
d. Growing the entrepreneurial firm

Question No. 12: The activity which occurs when the new venture is started are called:
a. Business skills
b. Motivation
c. Departure point
d. Goal orientation

Question No. 13: Government can help in forming new venture by providing:
a. finance
b. technology
c. infrastructure
d. funds

Question No. 14: Professional support network includes following EXCEPT:
a. Personal affiliations
b. Mentor
c. Friends
d. Trade associations

Question No. 15: -All of the following are the broad categories of External forces EXCEPT:
a. Economic forces
b. S Socioeconomic forces
c. Technological forces
d. Competitive forces

Question No. 16: 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?
a. Supplier
b. Retailer
c. Competition
d. Government bureau

Question No. 17: Which of the following cannot be covered under the copyright protection?
a. Computer software
b. Poems and songs
c. Computer hardware
d. Models and sculpture

Question No. 18: The business plan should be prepared by:
a. Entrepreneurs
b. Consultants
c. Engineers
d. Small business administration services

Question No. 19: The longest lasting trade agreement with the objective of liberalizing trade by eliminating or reducing tariffs, subsidies and quotas is:
a. Free trade area – FTA
b. European community – EC
c. General agreement on tariffs and trade – GATT
d. The North American free trade agreement – NAFTA

Question No. 20: The period in which the money person entered into a contract with the go-between to sell his goods is known as
a. Middle ages
b. 18th century
c. 17th century
d. Earliest period

Question No. 21: ———-viewed the entrepreneur as a risk taker who “buy(s) at an uncertain price, therefore operating at a risk”.
a. Eli Whitney
b. Edward hariman
c. Richard cantillon
d. Thomas Edison

Question No. 22: 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.
a. venture capitalist
b. entrepreneur
c. businessman
d. buyer

Question No. 23: What is the primary concern of founders who trade equity for capital for their growing venture?
a. Capitalization
b. Control
c. Valuation
d. Investor capabilities

Question No. 24: The commitment of administrative domain to the resources is for:
a. Periodic intervals
b. Total amount needed
c. For certain tasks
d. For long time

Question No. 25: External forces directly affect all of the following EXCEPT:
a. Market segmentation strategies
b. Types of products/services offered
c. Management structure of organization
d. Choice of businesses to acquire or sell

Question No. 26: 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:
a. Economic development
b. Balance of payment
c. Barter system
d. International trade

Question No. 27: Which one of the following is NOT a condition of a contract?
a. An offer is made
b. Consideration is given
c. An acceptance of offer
d. Contract must be illegal

Question No. 28: Developing a new idea through inquiry and testing is called:
a. Forced relationship
b. Heuristics
c. Scientific method
d. Value analysis

Question No. 29: Entrepreneurial success has been significant because of the culture and the political and economic systems in _______.
a. Asian countries
b. Eu ropean countries
c. Transition economies
d. Middle East

Question No. 30: Members of distribution channels are excellent sources for new ideas because:
a. They are familiar with the needs of the market
b. They earn a handsome profit from new business
c. They do not bother if entrepreneur bears a loss
d. They have well-developed sales force

Question No. 31: The importance of intellectual property should be understood by entrepreneur even before:
a. Hiring a manager
b. Engaging an attorney
c. Developing a product
d. Establishing new venture

Question No. 32: Which one of the Following is not the way by which an entrepreneur can enter into international business?
a. Export
b. Non equity arrangements
c. Direct foreign investment
d. Communication

Question No. 33: A typical inventor is usually ______________________.
a. Highly creative & in love with the invention
b. Does not encourage change
c. Willing to modify the invention
d. Not enthusiastic

Question No. 34: A contract must be signed by:
a. At least one party
b. Both the parties
c. Not necessary to sign
d. By third party

Question No. 35: A patent is granted for a specified amount of time because of the assumption:
a. That during this time firm will cover its development costs
b. That firm will earn a sufficient profit during this period
c. To limit the monopoly of the firm
d. That it will stimulate idea and development of a better product

Question No. 36: Which of the following is not a source of idea generation?
a. Consumers
b. Federal government
c. Brain storming
d. training

Question No. 37: Which of the following geographical area is having least interest to U.S. entrepreneurs?
a. Europe
b. The Far East
c. Central Asia
d. Transition economies

Question No. 38: Government can help in forming new venture by providing:
a. Finance
b. Technology
c. Infrastructure
d. Subsidiaries

Question No. 39: Which of the following factors does not affect a person for being an entrepreneur?
a. Work history
b. Nationality
c. Education
d. Personal values

Question No. 40: The transitional disturbance and lack of reform has led to boom black market in:
a. China
b. Hungary
c. Singapore
d. Poland