Last Updated 27 Jan 2021

Entre Notes

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Answer the following In about 15 words (i)List the tlelds in which Trailblazer' has business strengths. A. The trailblazer's business strengths could include the medical, technology, finance, legal and consulting fields. Being strong strategic thinkers, they focus easily on marketing and operations. (it) List the fields in which 'Motivator' has business strengths. A. The motivator's business strengths: They do well in retail, sales and HR. They do well in almost any business that Involves people, as long as Its d somewhat non- confrontational environment.

Ill) List the fields In which Collaborator has business strengths. A. collaborators are good at running customer service-oriented or retail businesses or any business where there is a need to convince others. Collaborators can be great salesmen in a warm selling market because they use their sociability to sell their expertise. (Iv) List the fields in which Diplomats' has business strengths. A. The diplomat's excel In retail or other people-oriented environments. They are good at multi-tasklng and can work well under pressure They get things done quickly end work well with deadlines, Q2.

Answer the following In about 50 words. (i) Describe the characteristics ot a 'go-getter' type ot personality. Ans. They have a higher-than-average level of both dominance and sociability and very driven and independent. Go-getters represent the largest percentage of the founders. Their natural style lends itself to managing and leading both processes and people. They can work well in ambitious and unfamiliar environments. means they can invest in, buy or start a business that's totally new and still make a success of It.

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They don't need to be an expert In the field to start the business, as they are good collaborators nd can learn as they go (it) What is brain storming? Ans. A group of persons sit together and generate a number of business ideas by innovating alternative ways of meeting the needs and solving problems. It is usually an unstructured discussion in which one idea leads to another. This is a very productive method of generating as many as possible. Oil) What do you mean by 'environment scanning? Ans.

One of the Important techniques that can be used to generate Ideas Is environment scanning, the screening of large amounts of Information to detect emerging trends. A lot of Information Is available from news magazines, reviews, government and consumer publications, trade publications, commercials, etc. These have to be scanned to obtain workable ideas. The challenge in this method is that there is too much information to scan from. However it is very useful way to generate ideas. (iv)What are focus groups? services in a structured setting.

In a typical focus group a moderator focuses the group discussion or whatever issues are being examined. A focus group can provide an excellent way to generate new ideas and to screen proposed ideas and concepts. v)Explain feasibility study? Ans. Centre for Entrepreneurship at University of Rochester explained that "a feasibility study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes, and assessing the range of costs and benefits associated with several alternatives for solving a problem. The information gathered and presented in a feasibility study will help entrepreneurs to: A) List in detail all the things they need to make the business work; B) Identify logistical and other business-related problems nd solutions; C) Develop marketing strategies to convince a bank or investor that their business is worth considering as an investment; and D) Serve as a solid foundation for developing their business plans. vi)What do you think is the reason for failure of business plan execution? Ans. Strategies most often fail because they are not executed well. Expected results and outcome may not happen and leading to underperformance. This creates significant frustration and cynicism within an organization. Even good plans can get a bad name because they are assessed by the results of its execution.

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