Question

opportunity 11. An entrepreneur has the to produce noge mask in this Corona ving times. o discuss four ways by which entrepreneurs can use their traits to Pursue this business opportunity. discuss tour (w challenges you likely to face as an entrepreneur during the production, of the face marks. chargctenstice Cute 2. Corona Virus has brought business ideas to many entreprenens, alil Identity business opportunity as an entrepreneur 1 Explain fourly reasons stated in 6.ai) is Dne why you think what you opportunity, 6) Discuss how you will make the ff. feasibility analysis on the business idea (production of face sheilds) i) Concept testing (%) Usability testing

The Subject/Course is *Entrepreneurship in Home Economics Education

Answer 1

1)

                                    In the given case, it is said that the entrepreneur has the opportunity to produce masks during these times. The following are the four ways by which the entrepreneur can use the traits to pursue this business opportunity

· The entrepreneur could approach the textile sector and make arrangements for procurement of materials that is suitable for the mask production in a large scale

· The youth who are unemployed due to the current situation could be give an opportunity to be a part of this by offering attractive wages

· The allied sectors of textile industry could be tied up with and since they are under stress, the new given opportunity would attract them towards this opportunity

· The existing shops and establishments may be remodified in such a way as to accommodate the new establishment

b)

                        The following are the four major challenges that would be faced by the entrepreneur while making such establishments

· The initial investment is a major risk. As many similar establishments have sprang out, the entrepreneur would have to find certain low cost or variety manufacturing process so as to reduce this risk of investment

· The identification of proper employees who could manufacture the required number of products within the stipulated time framework would be challenging

· The transmission and redistribution of the final product to the last mile shops would be challenging as there are many restrictions on the transportation of goods within the nation

· It would be challenging always to maintain the standard and quality of the final product and thus the entrepreneur would have to make proper precautions to maintain the same.