(PDF) Entrepreneurship and Family Business

Added on - 05 Apr 2021

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ENTREPRENEURSHIP, NEW VENTURE CREATION AND FAMILY BUSINESS (DipanjayBhalerao sir)27thJanuaryRitesh Agarwal (OYO Rooms) & Falguni Nair (Nykka)Personality traits – ambitious, determined, curious, unique, focused, gratitude, perseverance28thJanuaryDuolingo – Luis von AhnPhilanthropic- Von Ahn saw in his home country, Guatemala, that learning English was expensivefor people, but he believes that “free education will really change the world”. So he developedDuolingo The website and app are accessible without charge while offering a premium service for afee.Passionate- Von Ahn’s interest has been improving the world using human skills in computertechnology.For example, Von Ahn’s PhD thesis was the first work on Games With A Purpose, or GWAPs, whichare games played by humans that generate useful information as a side effect.He has also been trying to digitalize millions of old books and make them searchable online.Innovative- In 2007, Luis von Ahn inventedreCAPTCHA, a new form of CAPTCHA. ReCAPTCHA wassold to Google in 2009 and the service is known to display several hundreds of million CAPTCHAsevery day.From the Central American nation of Guatemala, he went to the US in 1996, aged 18, to do a mathsdegree at Duke University in North Carolina. After that he studied computer science at CarnegieMellon University in Pittsburgh.He specialized in "human-based computation", which in very simple terms is how humans andcomputers can best work together to solve complicated tasks.29thJanuaryOpportunities in covid-19Learning a language to feel connected to people around the world. Learning a new language hasproved to be a popular hobby among those in lockdown, asDuolingo’s 2020 language reportrevealsa surge in downloads of the app.A renewed commitment to multilingualism within society, and to languages within education, iscritical to preparing present and future generations of citizens who will be responsible for buildinginternational collaborations and fostering harmony at home.Duolingo steps in to support online classrooms at homeClassroom language learners have long turned to Duolingo as a tool to complement school lessonsand give them a fun, varied way to learn a language on their own time, at their own pace.
Compatible to practice for tests like TOEFL and IELTS.1stFebruaryhttps://hbr.org/2013/05/a-better-way-to-think-about-yo2ndFebruaryNykaa Business model:Key partnersCustomer segmentsKey activitiesIt offers beauty and wellness productsThe idea is to bring the offline shopping experience online and provide a store-like shoppingexperience to digital customersKey resourcesNykaa sells more than 35,000 products from 650 brands.It deals in high- end products from brands like MAC, Lakme, etc.Value propositionsThey provide easy shopping experience, the virtual makeover tool, beauty advice, tutorials andcelebrity looks.Customer relationshipsCreating customer satisfactionEducating people about the USP’s of the different productsRecommending specific products based on their unique needsChannelsNykaa has online as well as offline presence in 35 storesNykaa has two store formats – Nykaa Luxe and Nykaa On-Trend.The Luxe format features luxury beauty brands.The On-Trend format features curated products by category based on their popularity.Cost structureThe costs include the salaries paid to employees, maintenance costs and the marketing costs.Inventory Model:The company stores the stock of goods purchased directly from manufacturers.They store the products in their warehouses.The products are sold directly from there.In this, the profit margin is high.Revenue streamsThey purchase directly from the brands.This helps in getting high commission over the products.
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