MTTM 8 Solved Assignment 2021-22

 

MTTM 8 Solved Assignment 2021-22

MANAGING ENTREPRENEURSHIP AND SMALL BUSINESS IN TOURISM

MTTM 8 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Programme: MTTM/MTM

Course Code: MTTM 8/MTM-8

Assignment Code: MTTM 8/ MTM-8/ TMA/2021

Total Marks: 100

Note: This TMA consists of ten questions, out of which you have to attempt any five. The question carries 20 marks each and should be answered in about 500 words. Send your TMA to the Coordinator of your Study Centre.

1. Explain in detail the stages of Product Design. What factors influence the choice of technology in establishing a new business?

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1. Idea Generation:
The design process begins with understanding the purchasers and their needs. Ideas for brand spanking new products can come from a spread of sources both within and out of doors the firm. Internal sources include employees, research and development, marketing research sales department and reverse engineering.
The external sources include customers, legislation, environment, technology and strategic position of the organisation. Competitors also are the source of ideas for brand spanking new products or services. Perceptual maps, bench marking and reverse engineering can help companies learn from their competitors.

Perceptual maps helps to match customer perceptions of a company’s products with competitor’s products. It’s a visible method of comparing customer perceptions of various product or services:

1. Bench marking refers to finding the simplest in school product or process, measuring the performance of your product or process against it and making recommendations for improvement supported the results.

2. Reverse engineering refers to carefully dismantling and inspecting competitors products to seem for design features which will be incorporated to enhance one’s own products.
2. Screening Ideas:
The purpose of screening ideas is to eliminate those ideas that don’t appear to possess high potential then avoid the prices incurred at subsequent stages. Using group of individuals , proposals would be supported by graphics, models and an overview specification and judged against a group of criteria like necessity to the firms survival, role in filling out an existing product/service, degree of overlap with existing products and services, utilizing existing processes and capabilities, impact on overall sales and profits of the corporate .

To have a far better evaluation of ideas, each of the size of the ideas is scored on a 0-10 scale and every dimension is attached weights as per these dimensions. The resulting aggregate score helps choose which idea to progress and which idea should be dropped.

3. Feasibility Study:
Initial screening of the ideas is meant to prevent the ideas, which are unsuitable for further considerations. Feasibility study consists of a marketing research, an economic analysis, and technical and strategic analysis. Marketing takes the ideas that are generated and therefore the customer needs that are identified from the primary stage of the planning process and develops alternative product concepts. The marketing research through customer analysis and market survey assesses whether there’s an enough demand for the proposed product to take a position in developing further.

If the sufficient demand exists, then there’s an economic analysis that aims at establishing the assembly and development costs and compares them with estimated sales volume. The profit potential of the merchandise are often studied using quantitative techniques like cost benefit analysis, decision theory, net present value (NPV) or internal rate of return (IRR).The risk analysis is additionally administered . Finally, technical and strategic analysis cares with technical viability of the merchandise with reference to technology, process of manufacture, availability of materials etc. Performance specifications are written for product concepts that pass the feasibility study and are approved for development.

2. What do you mean by entrepreneurial competencies? Explain the steps for developing entrepreneurial competencies?

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3. What is a Small Scale Enterprise (SSE)? Discuss the role of entrepreneurship in SSE and economic development.

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4. Discuss the need for financial planning in small scale enterprises. Explain the types of loans in Indian perspective for such small scale businesses.

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5. Define family business. Discuss the management control mechanisms in family business.

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6. Differentiate between selling and marketing orientation? Explain in detail the market demand analysis.

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7. What is SWOT analysis? Explain its importance in entrepreneurship.

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8. Explain Human Resource Planning. Discuss in detail the need for training and development.

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9. Discuss in detail the forms of a business organization. Discuss the characteristics of a Company.

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10. Discuss the stages of growth for a small enterprise. Explain various Growth Strategies.

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MTTM 8 Solved Assignment 2021-22 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

POST GRADUATE DIPLOMA IN AUDIO PROGRAMME PRODUCTION Master’s Degree Programmes (MASTER’S IN TOURISM MANAGEMENT (MTM/MTTM) ASSIGNMENTS

Dear Learner,

You have to submit one assignment in each course, i.e. MTTM 8, MTTM 8. All these are Tutor Marked Assignments (TMAs). Before attempting the assignments, please read the instructions provided in the Programme Guide carefully.

Kindly note, you have to submit these assignments to the Coordinator of your Study Centre within the stipulated time for being eligible to appear in the term-end examination. You must mention your Enrolment Number, Name, Address, Assignment Code and Study Centre Code on the first page of the assignment. You must obtain a receipt from the Study Centre for the assignments submitted and retain it. Keep photocopies of the assignments with you.

After evaluation, the assignments have to be returned to you by the Study Centre. Please insist on this and keep a record with you. The marks obtained by you will be sent by the Study Centre to the Student Evaluation Division at IGNOU, New Delhi.

Guidelines for Doing Assignments

There are five questions in each assignment, all carry equal marks. Attempt all the questions in not more than 500 words (each). You will find it useful to keep the following points in mind:

Planning: Read the assignments carefully. Go through the units on which they are based, make some points regarding each question and then rearrange them in a logical order

Organization and Presentation: Be analytical in your selection of the information for your answer. Give adequate attention to the introduction and the conclusion. Make sure that your answer is logical and coherent; has a proper flow of information.

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