In the current era of Startups where comapnies are starting and shutting down ev
ID: 373914 • Letter: I
Question
In the current era of Startups where comapnies are starting and shutting down every hour, enterpreneures need to foucs on many aspects to not only sustain but excel at whatever they are doing.
Enterpreneuer needs to think of all the people associated with him in his venture and when i say people they need not be in the company premises but even outside the premises like environment, society etc. Each and every stakeholder who is getting affected by company's operation need to satisfied.
Corporate Social responsibility is what many countries have imposed while others do it willingly. One way or the other but every enterpreneuer should focus and help the society as well maybe helping poor kids to study, helping in women sanitation etc.
Business operations is another very very curcial aspect for any business which if done right can help any kind of business to be best in class. Operations Management is the thing which needs to be implemented to remove "Muda" i.e. waste "Muri" i.e. overburden and "Mura" i.e. unevenness.
Product/services is the core of any business. What you are going to offer needs to be answered first up rather than how you are going to offer it. A strong product backed by strong idea will always keep business afloat. enterpreneures needs to explore blue ocean and tap the untouched market.
If you need more explanation, let me know :)
Explanation / Answer
b) What are some of the measures that an entrepreneur could take to ensure sustainability of his business? You are to focus on the following aspects: i. Stakeholder ii. Social ii. Product/Services iv. Business Operations (5 marks) (5 marks) (5 marks) (5 marks)