Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
Amaar Afzal and Radhey Shyam, both students of Class XI at Sarvodaya Vidyalaya No 1, Mori Gate, have been friends since Class VI. During the outbreak of COVID-19, when the lockdown started and everyone rushed out to buy masks, Afzal observed that there was shortage of masks and those that were available were highly priced. He and his friend came up with the idea of manufacturing masks, using surgical paper. The duo decided to set up a unit and were able to do so within three days. “Surgical papers in different colours are easily available. Even I helped those making the masks,” added the boy, saying the entrepreneurship curriculum being run for students of classes IX to XII helped him understand how to start the business. Our main motive was to ensure that the masks costing Rs 2/mask reached everyone.” he added. So far, the duo have been able to distribute over 50,000 masks. They also set up a small cart at Bhagirath Palace market for selling them. Identify the concept from the aforesaid case study, as the students find solution to shortage of masks.
Options:
Implementation
Strategic positioning
Problem identification
Idea and opportunity assessment
Correct Answer:
Problem identification
Explanation:
there was shortage of masks and those that were available were highly priced.(problem)
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.