Devilal
Product Planning and Development Process Product planning and development is the process through which a business creates a new product or improves an existing one. It involves several stages to ensure the product meets customer needs and is ready for the market. The stages of product planning and development are as follows: 1. Idea Stage: … Read more
E-Commerce Benefits and Challenges E-commerce refers to buying and selling goods and services over the Internet. It has become a vital part of modern business, allowing companies to reach a global audience. The benefits of E-commerce are as follows: 1. Global Reach: E-commerce allows businesses to sell to people all over the world, not just … Read more
The Creative Process Creativity is the ability to develop new ideas and to discover new ways of looking at problems & opportunities. It is the process of thinking something new. The creative process is something that can be developed and improved over time, as everyone has the potential to enhance their creative skills through practice. … Read more
Entrepreneurial Strategy and Risk Mitigation Entrepreneurial strategy refers to the plan and actions an entrepreneur takes to achieve business goals and gain a competitive edge in the market. It involves identifying opportunities, navigating risks, and utilizing resources effectively to succeed in the business environment. This strategy helps an entrepreneur make informed decisions and choose the … Read more
Types of Entrepreneurs An entrepreneur is a person who starts a new business venture bearing certain risk to earn the profit. They recognize viable business ideas and carry them out. Any person at any age who starts and operates the business is an entrepreneur. The different types of entrepreneurs are: 1. Social Entrepreneur: A social … Read more
Entrepreneurial vs Managerial Decision Making The differences between entrepreneurial decision-making and managerial decision-making are as follows: Entrepreneurial Decision Making Managerial Decision Making It makes new rules and processes. It follows the existing rules and procedures. This approach is based on innovation and growth. This approach is based on efficiency and stability. The decision-making process is … Read more
Intrapreneurship vs Entrepreneurship The differences between intrapreneurship and entrepreneurship are as follows: Intrapreneurship Entrepreneurship They work within a company. They start their own business. They use company resources. They use personal or external funding. They take lower risks rather than the company bears losses. They take higher risks and may face personal losses. They follow … Read more
The Entrepreneurial Process Starting a new business requires careful planning and execution. The entrepreneurial process helps guide individuals through the steps needed to turn their ideas into successful ventures. If I am planning to start a new business, then I follow the following entrepreneurial process: i. Idea Generation and Evaluation: This stage involves finding potential … Read more
Entrepreneurship’s Role in Nepal’s Economic Growth Entrepreneurs play a crucial role in the economic development of a nation. Here are some of the ways in which entrepreneurs contribute to the economic development of a nation: i. Job Creation: Entrepreneurs start new businesses that need employees, creating job opportunities for people. This helps reduce unemployment and gives people … Read more
The Role of Entrepreneurship in Economic Growth Entrepreneurs play a crucial role in the economic development of a nation. Here are some of the ways in which entrepreneurs contribute to the economic development of a nation: i. Job Creation: Entrepreneurs start new businesses that need employees, creating job opportunities for people. This helps reduce unemployment and gives … Read more