Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
Thaely was initially developed as design exercise by founder Ashay Bhave to develop an ethically produced sneaker that only uses components recycled from waste materials. The aim of the exercise was to find a solution to 100 billion plastic bags used each year which eventually turn into waste, that use 12 million barrels of oil and kill 100,000 marine animals annually. The waste plastic bag fabric was developed and perfected over the course of two years, from 2017-2018. To test and prove the fabric, a rough prototype was created with the help of a local shoe repair store in Mumbai with existing patterns, last and soles. This was a test to prove that the fabric could be used like traditional leather with existing manufacturing techniques. The test was successful and the finished prototype functioned and looked like a traditional leather sneaker. Today the demand for the sneakers has risen manifold and has created employment opportunities for many in the region. Read the case study and identify the concept.
Options:
Strategic positioning
Problem identification
Analytical planning
Opportunity assessment
Correct Answer:
Problem identification
Explanation:
Problem identification: A problem is a roadblock in a situation, something that sets up a conflict and forces you to find a solution. When an entrepreneur identifies such a road block, he/she is said to have identified the problem.