MTTM 8 Solved Assignment 2024-25
MANAGING ENTREPRENEURSHIP AND SMALL BUSINESS IN TOURISM
MTTM 8 Solved
Assignment 2024-25 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
Assignment Code: ASST/ MTTM 8 /2024-25
Marks: 100
Attempt all the questions:
Q1. What are the major
entrepreneurial competencies? Explain how these competencies can be developed
through systematic training?
Major entrepreneurial
competencies encompass a range of skills, attitudes, and behaviors crucial for
success in starting and managing a business. These competencies typically
include:
Creativity and Innovation: The ability to generate novel ideas, think outside the box, and find innovative solutions to problems.
Opportunity
Recognition: Identifying potential business opportunities in the market,
understanding customer needs, and foreseeing trends.
Risk Management:
Evaluating risks associated with business decisions and taking calculated risks
when necessary.
Vision and Goal
Setting: Having a clear vision for the business and setting achievable goals to
work towards that vision.
Resilience and
Persistence: Being able to bounce back from failures, setbacks, and obstacles,
and persisting in the face of challenges.
Networking and
Relationship Building: Building and maintaining relationships with
stakeholders, including customers, suppliers, investors, and partners.
Financial
Management: Understanding basic financial concepts, managing budgets, cash
flow, and making informed financial decisions.
Leadership and
Team Building: Leading effectively, inspiring and motivating others, and
building high-performing teams.
Communication
Skills: Communicating effectively with various stakeholders, including
employees, customers, investors, and partners.
Adaptability
and Flexibility: Being open to change, adapting to new situations, and
adjusting strategies as needed.
Systematic training
can help develop these competencies through various approaches:
Formal
Education: Pursuing courses, degrees, or certifications in entrepreneurship,
business management, or related fields provides structured learning
opportunities covering various competencies.
Workshops and
Seminars: Attending workshops, seminars, and conferences focused on
entrepreneurship allows individuals to learn from experienced entrepreneurs,
industry experts, and peers.
Mentorship and
Coaching: Having a mentor or coach who is an experienced entrepreneur can
provide personalized guidance, support, and feedback tailored to an
individual's specific needs and challenges.
Experiential
Learning: Engaging in hands-on activities such as business simulations, case
studies, and entrepreneurial projects provides practical experience and
opportunities to apply theoretical knowledge.
Networking
Events: Participating in networking events, startup competitions, and industry
gatherings facilitates building connections, learning from others, and
identifying potential mentors, collaborators, or investors.
Internships and
Apprenticeships: Gaining practical experience by working for startups, small
businesses, or entrepreneurial ventures allows individuals to observe, learn,
and practice entrepreneurial competencies in a real-world setting.
Continuous
Learning and Self-Reflection: Cultivating a habit of continuous learning
through reading books, articles, and blogs on entrepreneurship, as well as
reflecting on personal experiences and seeking feedback, helps individuals
continually improve and refine their competencies.
By combining
these approaches in a systematic and intentional manner, individuals can
enhance their entrepreneurial competencies and increase their chances of
success in starting and managing their own businesses.
Q2. Define market
orientation. Explain why an entrepreneur should go for market assessment.
Q3. Explain why
product or service design is important to any organization. Discuss the various
stages involved in product design.
Q4. ‘Small Scale
Enterprises have many characteristics which make them pivotal in accelerating economic
growth’. Discuss with examples.
Q5. Discuss the role
of important financial institutions rendering promotional assistance &
credit facilities assistance to small scale industrial units/enterprise.
Q6. What do you mean
by Business Plan? What type of location would you go for if you are in the
tourist transport business.
Q7. What do you mean
by Proprietorship? What are the advantages and disadvantages of Proprietorship?
Q8. Describe the
various stages of growth in the life of a small-scale enterprise. Support your
answer with examples from the tourism industry.
Q9. What are the
various financial ratios that are commonly used by entrepreneurs to assess
their own performances. Give a detailed check list to assess oneself.
Q10. Discuss some of
the commonly employed management practices in family business. Discuss the positive
aspects of family business.
MTTM 8 Solved
Assignment 2024-25 : All assignments are in PDF format which would be send
on email/WhatsApp (9958676204) just after payment.
MTTM 8 Solved
Assignment 2024-25, MTTM 8 Solved Assignment 2024-25, MTTM 8 Solved Assignment
2024-25, MTTM 8 Assignment, IGNOU
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IGNOU MTTM 8 Solved
Assignment 2024-25 :- Those students
who had successfully submitted their Assignments to their allocated study
centers can now check their Assignment Status. Alongside --assignment status,
they will also checkout their assignment marks & result. All this is often
available in a web mode. After submitting the assignment, you'll check you MTTM
8 Solved Assignment 2024-25 only after 3-4 weeks. MTTM 8 Solved Assignment 2024-25
it'd take 40 days to declare MTTM 8 Solved Assignment 2024-25
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