(SEM VIII) THEORY EXAMINATION 2023-24 PROJECT MANAGEMENT & ENTREPRENEURSHIP

SECTION A

(2 Marks each – Short Answers)

a. Features of an entrepreneur
An entrepreneur is innovative, risk-taking, achievement-oriented, self-confident, creative, goal-focused, and capable of organizing resources efficiently.

b. Achievement motivation
Achievement motivation is the inner drive to excel, achieve set goals, take responsibility, and perform tasks better than standards.

c. Four major themes of entrepreneurship and innovation
The four themes are opportunity recognition, innovation, risk management, and value creation.

d. Feasibility study of a project
A feasibility study evaluates the technical, financial, market, legal, and operational viability of a proposed project before implementation.

e. Project goals
Project goals are specific objectives that define what a project aims to achieve within given time, cost, and quality constraints.

f. Cash flow statement vs forecast
A cash flow statement shows actual inflow and outflow of cash, while a forecast predicts future cash movements.

g. Market assessment
Market assessment is the analysis of market size, demand, competition, customer needs, and pricing potential.

h. Types of growth strategy
Growth strategies include market penetration, market development, product development, and diversification.

i. Objectives of marketing management
Marketing management aims to satisfy customer needs, increase sales, build brand value, and achieve organizational goals profitably.

j. Legal structure in social entrepreneurship
Common legal structures include NGOs, trusts, societies, cooperatives, and social enterprises registered as companies.

SECTION B

(Attempt any three – 10 Marks each)

2(a) Highlighting entrepreneur’s skills during hiring process

Entrepreneurial skills can be highlighted through problem-solving examples, leadership roles, innovation projects, risk-handling experiences, business initiatives, and measurable achievements. Candidates should demonstrate adaptability, initiative, teamwork, decision-making, and value creation through real-life case examples.

2(b) Strategies for a sustainable enterprise model

A sustainable enterprise model focuses on long-term value creation by balancing economic viability, social responsibility, and environmental protection. Key strategies include efficient resource utilization, customer-centric innovation, ethical practices, stakeholder engagement, risk management, and continuous improvement.

2(c) Project life cycle and its five stages

The project life cycle represents the stages a project passes through from start to completion. The five stages are:                                                                 Project initiation

Project planning                                                        Project execution

Monitoring and control                                            Project closure

Each stage ensures systematic management and successful project delivery.

2(d) Feasibility evaluation and stakeholder identification

Feasibility evaluation ensures project viability by assessing technical, financial, market, legal, and operational aspects. Establishing project purpose defines objectives, while stakeholder identification recognizes individuals or groups affected by or influencing the project.

2(e) Signals and causes of industrial sickness

Signals include declining sales, rising debts, cash flow problems, poor productivity, and management inefficiency. Causes include outdated technology, poor planning, market competition, financial mismanagement, and external economic factors.

SECTION C

3(a) Entrepreneurship as a process of giving birth to an enterprise

Entrepreneurship is a continuous process that begins with idea generation, opportunity recognition, resource mobilization, risk-taking, and innovation. It transforms ideas into viable enterprises that create economic and social value.

3(b) Problems faced by entrepreneurs in India

Entrepreneurs face challenges such as lack of finance, bureaucratic hurdles, inadequate infrastructure, limited market access, skill gaps, and regulatory complexity.

4(a) Entrepreneurial motivation and its importance

Entrepreneurial motivation refers to internal and external forces that drive individuals to start and sustain enterprises. It is essential for persistence, innovation, risk-taking, and long-term success.

4(b) Five elements of a sustainable business model

The five elements are value proposition, customer segments, revenue streams, cost structure, and long-term environmental and social sustainability.

5(a) Classification of projects

Projects can be classified based on size, purpose, sector, ownership, location, and technology. Purpose-based classification is most rational as it aligns projects with development objectives.

5(b) Project identification process

Project identification involves idea generation, preliminary screening, feasibility analysis, market study, resource assessment, and selection of the most viable project.

6(a) Project cost estimation vs project estimate

Project cost estimation is the process of forecasting total project cost, while project estimate is the detailed cost calculation prepared for approval and execution.

6(b) Six steps for financial projections

The six steps are sales forecast, expense estimation, cash flow projection, income statement preparation, balance sheet projection, and break-even analysis.

7(a) Types of social entrepreneurship

Types include:

Non-profit social enterprises: Focus on social impact without profit motive

For-profit social enterprises: Generate profits while solving social problems

7(b) Marketing practices in social enterprises

Social enterprises use cause-based branding, community engagement, storytelling, ethical pricing, partnerships, and digital marketing to promote social impact.