PM&E Unit 2 2 Marks Question Answers

What’s invention? An Innovation is the practical perpetration of ideas that affect in the preface of new goods and services or enhancement in the immolation goods and services. 22. What’s the part of invention in entrepreneurship? Ans. The part of invention in entrepreneurship includes 1 Creative development. 2. Brand buttressing 3 Responding to trade and competition 4 patient enhancement.2.3. What are the different types of invention? Ans. The different types of invention are 1 Technology invention. 2. Business model invention. 3. Organizational invention 4 Process invention. 24. Define product and performance invention. Ans. In this type of invention either a new product is developed or the performance of the being product is bettered.2.5. Name different types of inventions on the base of change in pronounced and technology. Ans. Different types of inventions on the base of change in pronounced and technology are 1 Incremental invention. 2 Disruptive invention I 3. Architectural invention 4. Radical invention2.6. Define business model invention. Ans. Business model invention is the art of enhancing advantage and value creation by making contemporaneous and mutually probative changes to the association operating model. Define radical invention. Ana Radical invention involves the creation of technologies, services and bushiness models that open up in entirely new requests 28 What’s idea generation? AKK Iden generation is the process of creating, developing and communicating ideas which are abstract, concrete or visual. 2 Marks Questions 20. Name colorful ways of iden generation. colorful ways for idea generation are 1 Mind Mapping 2 Reverse Allowing AB 3. Brainstorming 4. gallop 5 part- Playing 6 Synectics2.10. What does SCAMPER stands for. Ans. The word SCAMPER is an acronym. S- cover, C- Combine, acclimatize.M. Modify. P Put to another use, E- exclude, A R-Rear2.11. What are business openings? Ank A business occasion is a packaged business investment that allows a buyer to begin a new business. 212 What are the characteristics of good business openings? Ana The characteristics of good business openings are 1. produce intellectual property. 2 Low launch- up cost 3. Making long term guests i 4. Targeting specific request2.13. How to identify good business openings? Ans. Good business openings can be linked by. 1. Analysis of internal demand 2 Vacuity of raw accoutrements 3. threat in business openings 4. assaying performance of being units. 214. What types of directorial chops are needed by an entrepreneur? Ans directorial chops that are needed by an entrepreneur are 1. Time operation 2 Business planning. Hand operation. 4. client operation 5. fiscal operation 6. Deals operation2.15. What do you mean by value creation? Ans. Value creation is the process that creates affair which are more precious than input.2.16. What’s feasibility study of a design? Ans. Feasibility study is a detailed disquisition of the proposed design to determine whether the design is financially economically and technically feasible or not.2.17. Name different strategy to grow an enterprise. Ans. Different strategies to grow an enterprise are 1. Hire the right people. 2 Focus on established profit sources 3. thrills your client service 4. Research your challengers.2.18. Explain process invention. Ans Reuse invention involve product, delivery client commerce, invention in the process can ameliorate the effectiveness or effectiveness of being styles.2.19. Define incremental invention. Ans. Incremental Innovation utilizes your being technology and increases value to the client( features, design changes,etc.). within your being request.2.20. What do you understand by brand underpinning? Ans Brand underpinning refers to the set of conditioning where company ensures that brand equity created doesn’t cheapen with time. Questions An Technical Appraisal is the specialized review to ascertain that the design is sound with respect to colorful parameters similar as technology, factory capacity, raw material vacuity, position, force vacuity, etc. SQ- 10R( HSMC- Sem- 7 & 8)3.14. List the aspects of specialized appraisal. Burro Aspects of Technical Appraisal 1. Manufacturing Process Technology 2. Specialized Arrangements 3 Materal Inputs and serviceability 4. Product Mix 5. Plant Capacity 6 position and point3.15. What’s environmental appraisal? Ans Environmental appraisal is the process of relating openings and pitfalls facing by an association and to dissect all the factors of business surroundings.$.16. List significance of environmental appraisal? Ank Importance of environmental appraisal is as follows Identification of strength. Identification of weakness. 1. 2. 3 Identification of openings. 4 Identification of trouble. 5 Optimum use of coffers.3.17. Define request appraisal. Ans Market appraisal is form of assessment that’s done to ascertain for fact that the design under which the particular product is manufactured is vended at the stylish of its price value.3.18 List compass of request exploration. Ans compass of request exploration is as follows dimension of request eventuality. 1 2 Determination of request characteristics. 3. request share analysis. 4. Competitive products studies.3.19. Name styles for demand soothsaying. Ans styles for demand soothsaying are 1 Moving average system 2. ladened moving average system 3. Exponential smoothing.3.20. What are the rates demanded to be studied in directorial appraisal. 4 UNIT Project Financing( 2 Marks Questions)4.1. Define design cost estimation. Ans. Cost estimation in design operation is the process of vaticinating the fiscal and other coffers demanded to complete a design within a defined compass 3. installations 4. merchandisers 2 Marka Questions4.2. Name the rudiments of cost estimation. Ans. The rudiments of cost estimation in design operation 1. Labour, 2 Accoutrements and outfit.4.3. Give the significance of cost estimation. Ans. The significance of cost estimation in a design includes 1 further accurate planning. 2 Advanced profit perimeters. 3 bettered resource operation. 4. Stronger customer connections.4.4. Name different types of design cost estimation fashion. Ans. Different types of design cost estimation ways are 1. similar Estimating. 2 Statistical Modeling. 3. Bottom- Up Estimating. 4. Top-down Estimating.4.5. Define working capital. Ans. Working capital is described as the capital which isn’t fixed. Working capital is considered as the difference between the book value of current means and current arrears.4.6. separate between gross working capital and net working capital. Project Management & Entrepreneurship AnkS.No. 1 2 Gross working capital Gross Working Capital is the general conception which determines the working capital conception The gross working capital is the capital invested in total current means of the business concern. SQ- 13 R( HSMC- Sem- 7 & 8) Net working capital Net Working Capital is the specific conception which considera both current means and current. liability of the concern. Net Working Capital is the excess of current means over the current liability of the concern during a particular period.4.7. Name different types of working capital. Ans. Working capital may be of different types as follows 1. Gross Working Capital. 2. Net Working Capital. 3. endless Working Capital. 4. Temporary or Variable Working Capital.4.8. Name different types of finances. Ans. Different types of finances for starting a design are 1. Governmental Grant. 2. Fund by mates. 3. espoused plutocrat. 4. Investor finances,4.9. Name the base on which sources of finances are classified. Ans. The sources of finances are classified as, On the base of period 2. On the base of power 3. On the base of source of generation4.10. What’s capital budgeting? Ans. Capital budgeting is the planning process used to determine whether an associations long term investments similar as new ministry. new shops and exploration development systems are worth funding of cash through establishment.4.11. Name different types of pitfalls involved in a design. Ans. Different types of pitfalls in a design are 1. functional pitfalls. 2. Security pitfalls. 3. Legal pitfalls. 4. Strategic pitfalls.4.12. Name different types of misgivings involved in a design.

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