Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:

During the clampdown after the government abrogated Article 370 in August 2019, a 31-year-old man from Srinagar decided to start Kashmir’s first tiffin service.Hailing from the Valley, Rayees Ahmad, along with his wife Nida Rehman, started their dream venture Tiffin Aaw — meaning “meal has come” — with the motive of serving hot plates of healthy, home-cooked meals.The concept of starting this kind of service for the first time in the valley struck in Ahmed’s mind in November 2019, three months after the abrogation of Article 370. “During the bone-chilling foggy night when all restaurants were closed in the city, I got a call from one of my friends saying he had not eaten anything since morning due to the lockdown and requested if I can arrange something for him,” Ahmad told SocialStory.“I entered the kitchen, packed the food in a Tiffin box, and left to drop the order at his office on my two-wheeler,” he recalled, adding “After collecting the Tiffin box a few days later, an idea struck my mind; this is something I need to do.” Thereafter, Ahmed translated his useful idea to reap the benefit of starting his venture commercial level. He made persistent effort to work out analytically the details of his venture, developed marketing strategies, etc.Ahmad recalled that on the first day, he delivered about 25 boxes – packed inside a cardboard box and wrapped in a blanket to keep them warm. Today, they deliver upto 150 boxes a day. Ahmad — also known as “Kashmir's Swiggy Boy” — prefers to call himself the “Tiffin man of Kashmir”, and claims his food is 100 percent homemade without any preservatives, taste enhancers, and colours.
After collecting the Tiffin box a few days later, an idea struck my mind; this is something I need to do":- Identify the process that provided the stimulus for opportunity discovery and new venture creation to Ahmed:

Identify the element of innovation reflected through above example.

Options:

Analytical planning

Organising Resources

Implementation

Commercial Application

Correct Answer:

Commercial Application

Explanation:

The correct answer is Option 4: Commercial Application

Commercial application refers to the process of implementing innovative ideas or concepts for commercial purposes. In this case, Ahmed's idea of starting Kashmir's first tiffin service was innovative because it addressed a specific need in the community during the clampdown after the abrogation of Article 370. However, the element of innovation is most strongly reflected in the commercial application of his idea. Ahmed translated his useful idea into a commercial venture by developing a business plan, implementing operational processes, and delivering the tiffin service to customers on a daily basis. Therefore, "commercial application" accurately describes the element of innovation reflected through the example.

There are 4 elements in Innovation Process:

Analytical planning: Carefully identifying the product or service features, design as well as the resources that will be needed.

Resource organization: Obtaining the required resources, materials, technology, human or capital resources.

Implementation: Applying the resources in order to accomplish the plans and delivering results.

Commercial application: The provision of value to customers, reward employees, and satisfy the stake holders.