Entrepreneurship, Startups & Women Entrepreneurs — Practice

Question 1

Who is an intrapreneur?

Accepted Answer

An employee who innovates and takes entrepreneurial initiative inside an existing organisation, creating new products or processes without founding a separate firm.

Question 2

What does SCAMPER stand for?

Accepted Answer

Substitute, Combine, Adapt, Modify, Put to another use, Eliminate and Reverse, a checklist for generating ideas by changing an existing product or process.

Question 3

State the purpose of the Stand-Up India scheme.

Accepted Answer

It facilitates bank loans of 10 lakh rupees to 1 crore rupees for at least one Scheduled Caste or Scheduled Tribe borrower and one woman borrower per bank branch, to set up new enterprises.

Question 4

Explain design thinking as a method for generating business ideas.

Accepted Answer

Design thinking is a user-centred method with five stages: empathise with users' real problems, define the problem clearly, ideate many solutions, prototype a simple version and test it with users. It reduces the risk of building a product nobody wants and suits startups because it iterates quickly from feedback.

Question 5

List and explain the main sections of a business plan.

Accepted Answer

The executive summary gives the venture in one page. The product and market section describes customers, size and competitors. The marketing plan sets price, place and promotion. The operations plan covers location, process, supply and people. The financial plan gives startup cost, projections, break-even and funding sources. The risk section identifies key risks and mitigation. Together they show whether the venture is viable.

Question 6

How would you test the feasibility of a new business idea?

Accepted Answer

Test market feasibility by identifying customers, demand, price and competitors, technical feasibility by checking that the product can be made with available technology and skills, and financial feasibility through capital need, break-even and return. A SWOT analysis adds the internal strengths and weaknesses and external opportunities and threats. Only ideas that pass all tests move to a full plan.

Question 7

Compare Startup India and MUDRA Yojana.

Accepted Answer

Startup India (2016) recognises innovative startups through the Department for Promotion of Industry and Internal Trade and offers compliance relief, tax benefits, a fund of funds and seed support. MUDRA Yojana (2015) provides collateral-free loans to micro enterprises in Shishu, Kishor and Tarun categories. The first targets scalable, innovation-led ventures, the second finances small and informal businesses.

Question 8

Discuss the challenges faced by women entrepreneurs in India and suggest measures to address them. (~250 words)

Accepted Answer

Women entrepreneurs, a small share of business owners, mostly run micro enterprises. Financial barriers include lack of collateral and property in their names. Social barriers include mobility limits, gender norms and a double burden of household and business work. Institutional gaps include fewer networks, mentors and market linkages. Skill gaps reduce their use of technology and digital marketing. Measures include collateral-free credit through MUDRA and Stand-Up India, Self Help Group federations that pool savings and market access, incubators and women-only accelerators, skill and digital-literacy programmes, and reforms in property and inheritance rights. Safe transport, childcare support and public procurement from women-led firms further help. Progress must reach small towns and villages, not just urban startups, and should be measured by enterprise survival and income, not only loans disbursed.

Question 9

"A good idea is not enough; a business plan decides whether a venture survives." Discuss. (~250 words)

Accepted Answer

Many ventures fail not for lack of ideas but for lack of planning. A plan forces the entrepreneur to test whether customers exist and will pay, to cost operations realistically and to identify break-even and cash needs, which are the main causes of early failure. It also communicates the venture to lenders and investors, who rely on the financial plan and risk analysis. The marketing plan aligns price, place and promotion with the target customer, while the operations plan tests location, supply and staffing. Yet plans have limits: markets change, so a plan must be reviewed and adjusted, and over-detailed plans can hide the need to test with real customers early. The strongest approach pairs a clear plan with quick prototyping and feedback, and updates the financial projections as evidence arrives.

Practice — Entrepreneurship, Startups & Women Entrepreneurs

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