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ENTREPRENEURSHIP

An individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

Entrepreneurs play a key role in any economy. These are the people who have the skills and initiative necessary to take good new ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn.

NAME:- MR Manish Kothari BUSINESS:-Semi precious color jewelry and precious stones TYPE :-First generation entrepreneur TYPE OF ENTREPRENEUR:Innovative entrepreneur

Q1 What were the problems faced by you when you were staring the business ?

ANS1 There were many problems faced by me when I


started the business some problems faced by me were:- , Location Employees Raw material And many more problems were faced by me and when we started the business the problems were reducing slowly slowly.

Q2 From where you get the raw material and


were is your manufacturing unit ?

Ans2 We get our raw material from Africa and Bangkok


we get it from the miners or from the local market with a help of a middle man. Manufacturing unit is located in Jaipur due to cheap labour and skilled labour for the business

Q3 Was there financial problem ? ANS3 No, there was no financial problem to start the
business I had enough capital to invest in the business and by rotation in the business and profit earned increased the profits and the profits were invested in the business as capital.

Q4 What do you with the finished goods do you


send them out of India or in the local markets ?

ANS4 We sell some goods in the local market and


export more goods to USA , Thailand and Honkong Goods sold any where on the globe we take help of a middle man.

Q5 Which market is the best for selling the goods in India


or out of India ?

ANS5 The best market is the USA because we get our


payments fast and our able to make more profits in that market in India or Honkong we get our payments late and less profit .

Q6 What are the process of manufacturing semi


precious stones ?

ANS6 It is a four stage process which includes: Sorting


Pre forming Polishing

Heating (some stones)

Sorting information Table

Q6 What amount of risk does this business have ?


ANS6 We have a lot of risk in this business because when we import goods we have risk of goods being lost , when we our goods for pre forms or for polish it can be changed and most important when we sell goods and not getting payments for the goods .

Q7 For minimizing your risk what steps have taken ? ANS7 We have taken many steps to minimize the risk
because risk is an important factor or feature of a business . Steps taken are : Insurance of the goods All machines required for the process are setup in the office Safety of goods from theft or fire we have both the systems installed in the office and many more steps we have taken to minimize the risk .

Q8 what would you like to do with your profit ? ANS8 I like spend my profits in land or as my capital in the business for more profits but less looses and when we sell land money received is also used as capital in the business.