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Answered on 25 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Differentiate between a private company and a public company on the basis of minimum and maximum number...

Sujoy D.

Tutor

It is important to know the difference here so I am glad you asked. As their names suggest, both limit the liability for its stockholders as long as the company runs as it should and doesn't run into problems that would pierce the corporate veil. There are certainly differences which exist between the... read more

It is important to know the difference here so I am glad you asked. As their names suggest, both limit the liability for its stockholders as long as the company runs as it should and doesn't run into problems that would pierce the corporate veil. There are certainly differences which exist between the two though.

i. A private company does do not offer stock to the general public is usually referred to as closely-held because stockholders are typically the founders, family members, and/or employees has no duty to disclose finances to the public & avoids the SEC.

ii. A public company can generate a great deal of financing by selling stock to the general public, which is traded on an exchange must abide by numerous SEC reporting requirements has separation between ownership and control of the company.

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Answered on 27 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Mr. Raghav retired as CEO of a well reputed IT company after having worked for 40 years in USA. He returned...

Ashok Kumar Filix

Home Tutor

Industry connection.
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Answered on 25 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

State the factors which lead to effective employee relationship.

Sujoy D.

Tutor

Building and maintaining healthy employee relations is an essential prerequisite in attaining ultimate success for your business. But how do we do so? Enhancing communication channels and motivation in employees can accomplish this. In addition to this, creating a uniformed vision, embracing equality... read more
Building and maintaining healthy employee relations is an essential prerequisite in attaining ultimate success for your business. But how do we do so? Enhancing communication channels and motivation in employees can accomplish this. In addition to this, creating a uniformed vision, embracing equality and being a great leader is a must. Building better employee relations requires a sound balance between: Employees needs are being met and the company is producing profitable and on-going business. As you can imagine, fostering great employee relationships holds many advantages for an organizations success Here are some advantages of positive employee relationships: A sound employee relationship maintains a harmonious atmosphere at the workplace: one that is healthy among and between all levels of employees. Happy employees are more confident and productive. They take on increased responsibilities more efficiently. A stronger employee relationship leads to better employee morale and job satisfaction. This creates lower stress levels and increased enthusiasm, in turn, enhances their abilities to better meet the company's goals and objectives. This fosters a building of trust and loyalty towards the company. Improved communication channels lead to conflict reduction, reduced staff turnover rates, and absenteeism levels. This reduces unnecessary costs associated with re-hiring and re-training new employees. It allows misunderstood situations to be clarified and put in place quick solutions to rectify the issue effectively. Companies that nurture employee relations enhance an employees motivation to be creative. This encourages a culture of innovative thinkers and cultivates a teamwork type ambiance. read less
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Answered on 25 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Why does an entrepreneur need to scan environment? Explain

Sujoy D.

Tutor

Environmental analysis will help the firm to understand what is happening both inside and outside the organization and to increase the probability that the organizational strategies developed will appropriately reflect the organizational environment. Environmental scanning is necessary because there... read more

Environmental analysis will help the firm to understand what is happening both inside and outside the organization and to increase the probability that the organizational strategies developed will appropriately reflect the organizational environment. Environmental scanning is necessary because there are rapid changes taking place in the environment that has a great impact on the working of the business firm. Analysis of business environment helps to identify strength weakness, opportunities, and threats. SWOT analysis is necessary for the survival and growth of every business enterprise.

The following is the need and importance of environmental scanning:

1. Identification of strength: Strength of the business firm means the capacity of the firm to gain an advantage over its competitors. Analysis of internal business environment helps to identify the strength of the firm. After identifying the strength, the firm must try to consolidate or maximize its strength by further improvement in its existing plans, policies, and resources.

2. Identification of weakness: Weakness of the firm means limitations of the firm. Monitoring internal environment helps to identify not only the strength but also the weakness of the firm. A firm may be strong in certain areas but may be weak in some other areas. For further growth and expansion, the weakness should be identified so as to correct them as soon as possible.

3. Identification of opportunities: Environmental analyses help to identify the opportunities in the market. The firm should make every possible effort to grab the opportunities as and when they come.

4. Identification of threat: Business is subject to threat from competitors and various factors. Environmental analyses help them to identify the threat from the external environment. Early identification of threat is always beneficial as it helps to diffuse off some threat.

5. Optimum use of resources: Proper environmental assessment helps to make optimum utilization of scarce human, natural and capital resources. Systematic analyses of business environment help the firm to reduce wastage and make optimum use of available resources, without understanding the internal and external environment resources cannot be used in an effective manner.

6. Survival and growth: Systematic analyses of business environment help the firm to maximize their strength, minimize the weakness, grab the opportunities and diffuse threats. This enables the firm to survive and grow in the competitive business world.

7. To plan long-term business strategy: A business organization has short-term and long-term objectives. Proper analyses of environmental factors help the business firm to frame plans and policies that could help in the easy accomplishment of those organizational objectives. Without undertaking environmental scanning, the firm cannot develop a strategy for business success.

8. Environmental scanning aids decision-making: Decision-making is a process of selecting the best alternative from among various available alternatives. An environmental analysis is an extremely important tool in understanding and decision­ making in all situation of the business. The success of the firm depends upon the precise decision-making ability. Study of environmental analyses enables the firm to select the best option for the success and growth of the firm.

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Answered on 29 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Explain the following features of a cooperative society: a. Democratic management, b. Capital and return...

Vinuta Bhujang

Saraswati Nrutya Shale

Cooperative society is an association of like minded people who come together voluntarily so as to meet cultural, economical needs and common goals. Following are the features of Cooperative Society a. Democratic Management: The members of the society elect the managing committee who manage the functioning... read more
Cooperative society is an association of like minded people who come together voluntarily so as to meet cultural, economical needs and common goals. Following are the features of Cooperative Society a. Democratic Management: The members of the society elect the managing committee who manage the functioning of the organization. Hence every decision is taken by obtaining consent from majority of members. b. Capital and return thereon: The capital of the society is formed by subscription of shares by the members and acts as a Share Capital. The share holders are entitled to get 9% of dividend. Shares cannot be transferred. c. Distribution of surplus: After the dividend payment, the surplus amount which is left out is used fro the welfare of the society. Certain percentage of amount is also kept in the general reserve. read less
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Answered on 02 Feb CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Why is stock exchange important for an investor?

Sujoy D.

Tutor

The ability to issue stock is critical to a business because stocks reflect an important source of capital used to raise cash, which also provides an alternative to debt financing. Each industry has its own optimum capital structure, which refers to the mix of debt and equity (stock) financing a company... read more

The ability to issue stock is critical to a business because stocks reflect an important source of capital used to raise cash, which also provides an alternative to debt financing. Each industry has its own optimum capital structure, which refers to the mix of debt and equity (stock) financing a company uses. Therefore, the industry a company is situated in often will have some impact on the amount of stock it issues relative to its overall capital structure.

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Answered on 02 Feb CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

A stationery shop sells 30,000 pens per year. Purchase cost is Rs. 2 per pen; Holding cost is 20% of...

Sujoy D.

Tutor

EOQ = squareroot of double the annual demand and cost per order to holding cost. Annual demand -D -30000 Cost per order -C- 2 Holding cost % - 20 Holding cost - I x C =0.4 Therefore EOQ = 547.
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Answered on 02 Feb CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

Disha, a graduate of Horticulture from Kurushetra University came across a barren land near Solan when...

Sujoy D.

Tutor

a. Natural Resources : Ideas can be generated on the basis of natural resources. b. i. Existing products or services: A great business idea combines skill with imagination and market demand. Example: Improved packaging in chips to retain freshness ii. Market driven or demand driven: One important method... read more

a. Natural Resources : Ideas can be generated on the basis of natural resources.

b. i. Existing products or services: A great business idea combines skill with imagination and market demand. Example: Improved packaging in chips to retain freshness

ii. Market driven or demand driven: One important method for generating ideas is to carry out market research. It is an organized manner to gather information about target markets and help to understand the latest trends. Eg., need for smart phones.

iii. Trading related: Trading these days are not confined to ordinary grocer or distributor outlets. Eg, Flipkart.

iv. Service sector: Service sector is growing worldwide due to advancements in information and technology. Eg. Career counseling centers

v. Creative efforts: Apart from applying creativity to spot and harness opportunities, it can also be developed to develop new products and services. Eg, Flat screen TV.

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Answered on 25 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

What are the advantages and the disadvantages of the pricing strategy?

Sujoy D.

Tutor

The marketing mix determines the marketing elements related to selling a product. Marketing mix factors include the product itself, promotion, placement, and price. The price is the most adjustable element of the marketing mix, so the price has a high number of associated strategies. The price of a product... read more

The marketing mix determines the marketing elements related to selling a product. Marketing mix factors include the product itself, promotion, placement, and price. The price is the most adjustable element of the marketing mix, so the price has a high number of associated strategies. The price of a product communicates the company's intended value of the product. Strategies pricing the product too low or too high can have unintended consequences.

Managers use a combination of strategies to determine product price.

The marketing mix determines the marketing elements related to selling a product. Marketing mix factors include the product itself, promotion, placement, and price. The price is the most adjustable element of the marketing mix, so the price has a high number of associated strategies. The price of a product communicates the company's intended value of the product. Strategies pricing the product too low or too high can have unintended consequences.

Industry Standard and Life-Cycle Pricing: Pricing according to a mix of the cost of producing the product and industry standard is easy, but lacks competitive strategy. The price should be used in conjunction with the other elements of the marketing mix. If a product is supposed to be high-end, it should be priced accordingly. Sometimes, managers make the mistake of leaving the price the same. The price of the product should vary throughout the product's life cycle; the price strategist should set different prices for product introduction, growth, maturity, and decline.

Management Pricing: Some managers assume that consumers who wish to purchase a product would pay whatever the product is priced. Under this line of thought, many managers price the product at what they think it should cost, not what the consumer thinks it should cost. This may lead to a loss in sales because consumers often interpret prices along with past purchasing experiences and information from research.

Consumer-Based Pricing Strategies: Consumers tend to consider prices in terms of what they think the price should be, comparing their perceived price with the actual price. The discrepancy in either direction (too high or too low) may cause the consumer to purchase the product from another company. A consumer-based pricing strategy can be advantageous because it goes inside the mind of the intended consumer to predict what the consumer would be willing to pay for a product. Market research and attention to other elements of the marketing mix help determine the consumer's ideal price.

Pricing According to Demand: Price strategy may also be tied to the economic law of supply and demand. The law of supply and demand states that prices should rise as demand for the product rises. The rise in price leads to a rise in profits, which allows the company to produce more products. The additional products lead to a surplus, the surplus causes prices to fall once more, and the lower prices lead to an increase in demand, starting the cycle over again. Advantages of demand pricing include the ability to optimize prices using charts and mathematics that predict ideal prices. However, demand pricing may lead to revenue loss by failing to take into account variables such as production costs and the consumers desired price.

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Answered on 25 Jan CBSE/Class 12/Commerce/Entrepreneurship Tuition/Class XI-XII Tuition (PUC)

State the concepts of Enterprise Marketing and Growth Strategies.

Sujoy D.

Tutor

Enterprise marketing can be defined as the marketing efforts used by a large-scale business in order to attract and secure new clients. With enterprise marketing, there is a high level of focus on generating and creating new leads, as opposed to simply maintaining an existing customer base. Enterprise... read more

Enterprise marketing can be defined as the marketing efforts used by a large-scale business in order to attract and secure new clients. With enterprise marketing, there is a high level of focus on generating and creating new leads, as opposed to simply maintaining an existing customer base.

Enterprise marketing efforts are similar to traditional marketing efforts, except that they are scaled to meet the needs of large businesses. In order to have an effective enterprise marketing strategy, it's imperative that the entire company is on board with the plan. It is also crucial that your content is flawless and on-point. Strategies and options for enterprise marketing:

There are several key goals for enterprise marketers, including increasing market share, growing sales/turnover, increasing customer loyalty, enhancing the strength of the brand, and effectively managing costs to increase profitability. For example, a company can achieve growth by expanding internally or externally, either through hiring or acquisitions/mergers.

One benefit associated with growth is that a company can then take advantage of the economies of scale in order to reduce costs. This can translate into better buying power or attract more efficient decision makers to the team, ultimately lowering overall costs and increasing profitability.

Defining and targeting your audience is a key component of an effective enterprise marketing strategy. Customer relationship management (CRM) tools are also incredibly valuable in tracking leads, conversions and more. Working off referrals is one way to see the health of your brand's reputation in the market.

Most small companies have plans to grow their business and increase sales and profits. However, there are certain methods companies must use for implementing a growth strategy. The method a company uses to expand its business is largely contingent upon its financial situation, the competition, and even government regulation. Some common growth strategies in business include market penetration, market expansion, product expansion, diversification, and acquisition.

Burger Joe's is a local fast-casual restaurant with only one location that is looking to grow their business. In order to expand, they will need to implement a growth strategy, which is the method that a company uses in order to achieve their goals for expansion.

As Burger Joe's decides how to expand, they have several options from which to choose.

In general, there are two categories of growth, and these each contain their own strategies:

a. Inorganic growth is growth through a partnership. This typically consists of a merger where two businesses come together to form one company; or an acquisition where another company buys most of another company.

b. Organic growth is a growth strategy where a company works to increase their number of customers, revenue, and overall business development.

Organic growth is made up of four growth strategies:

i. Market penetration is increasing marketing efforts with current products or services in the market that they are already operating in.

ii. Market development is expanding into a new market using their current products or services.

iii. Product development is adding a new product or service to what they are already offering.

iv. Diversification is entering a new market with a new product or service.

These four strategies can be broken down into two categories: existing markets, products, or services and new markets, products, or services. Companies will select one or more growth strategies to reach their business goals.

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