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Title Name Amity solved Assignment of Innovation in Business and Entreprise
University AMITY
Service Type Assignment
Course MBA
Semister Semester-III-Entrepreneurship Cource: MBA
Short Name or Subject Code Innovation in Business Enterprises
Commerce line item Type Semester-III-Entrepreneurship Cource: MBA
Product Assignment of MBA Semester-III-Entrepreneurship (AMITY)

Solved Assignment


  Questions :-

Innovation in Business & Entreprise

Assignment A

1.         Write a brief note on the following:

a. Simplicity and innovation

b. Creativity and innovation

2.         How would you promote innovation at grass-root level? Support your understanding with relevant examples.       

3.         Explain briefly the process of innovation through idea generation.  

4.         Explain the concept of Disruptive Innovation. How would you implement this technique in an entrepreneurial venture? Support your answer with relevant examples.        

5.         You are successfully running a new venture in telecom sector. How would you innovate in the space of using reverse innovation? Support your answer with examples.       

6.         Create a Customer centered innovation map for an industry of your choice. Explain the difference in approach while implementing this strategy as compared to the Producer centered innovation.       

7.         What do you understand by the Discovery-driven planning process? How does it differ from the conventional planning process. Support your answer with relevant examples.         

8.         How does team-building impact the innovation strategy of an organization? Support your answer with relevant examples.

 

Assignment B 

Case Detail : 

Mansukhbhai Prajapati, a potter living in rural Gujarat, is completely untaught in English. But the lack of formal education has not hindered this grassroots entrepreneur from building a thriving business using just clay. Prajapati, who belongs to Nichimandal, a village in Rajkot, Gujarat, is the founder of Mitticool Clay Creation, a company that makes refrigerators, water filters, cookers, hot plates and other such items of daily use from clay. It all began when Prajapati first built a clay refrigerator that naturally cools the food inside, and does not depend on conventional sources of energy. This cooling process can keep water, fruits and vegetables fresh for a week, while milk can be preserved for three days. The product now is priced at just `2,000 — almost one-tenth of the basic refrigerator models from LG, or Whirlpool.

"This fridge also preserves the original taste of vegetables and fruits," says Prajapati. Mitticool´s products have captured the imagination of the rural areas. Today it has revenues of around `30 lakh and has sold over one lakh products in just six years since it started off. Prajapati is among the new breed of several hundred grassroots innovators in India who are using imagination and innovation to solve basic issues of deprivation at the bottom of the pyramid. 

Such innovations are finding a market not just in India but also in other emerging markets and even developed nations. For instance, while Prajapati sells to Indian retailers such as Big Bazaar, he says that the same products have also reached customers in London, America, Singapore and Africa, thanks to the National Innovation Foundation (NIF). "We are reversing the model of globalisation. It is now emerging from India," says professor Anil Gupta, faculty member at the Indian Institute of Management, Ahmedabad, and executive vice-chairman of NIF. "This model is not about business to consumers, but grassroot to global markets." 

"India´s rural market spread along 600,000 villages, covering 110 million rural households and over 700 million people. This offers huge market for low-priced utility products," says Paul Basil, founder and CEO, Villgro Innovations Foundation, an NGO that focuses on rural markets. These innovations are becoming a force to reckon with at a time when large corporations are spending billions of dollars to kick-start new innovations. 

Just as Jeganathan´s mission is to cut infant mortality, the common factor for innovation at the grassroots level is the impact they have on a large number of people. Piramal Water is a for-profit business set up under the aegis of the Piramal Foundation. The company provides medium-scale water purification machines to rural franchisees. These franchise owners in turn distribute the clean water to the households in the area surrounding the unit. The company has 117 franchises and provides potable water to around 65,000 rural Indians. "We provide the machine, maintenance and servicing," said Anand Shah, CEO, Piramal Water. The franchise owner pays `2 lakh upfront and 40% of the revenues to Sarvajal. A can of 20 litres of drinking water is made available at just `4. "We are not just providing clean water, we are also trying to create rural entrepreneurs," says Shah.

Despite so many innovations, only firms like SKEPL have been able to scale up. "For these innovations to scale and reach to global audience, it is important that ventures are run as for-profit businesses," says Rita Soni, CEO, Nasscom Foundation. Despite all these, India is set to become a hub for grassroot innovations and a test market for MNCs to tap other emerging countries as well. According to NIF´s Gupta, large corporations cannot think the way these innovators can, because they are closer to the problem. "They are teaching them new rules. The future is going to be dematerialised economy as it will be driven by knowledge," says Gupta of NIF.

 

Question

1.         Based on the article, list down the challenges faced by the innovator at grassroot level. Support your arguments with relevant assumptions. 

2         Piramal Water, in the case above, is a classic example of making profit through satisfying the needs of consumers at the bottom of the pyramid. Do a critical analysis of their model with the limited information given in the case. Support your argument with relevant assumptions.

3.         Critically evaluate the statement "Such innovations are finding a market not just in India but also in other emerging markets and even developed nations". Support your answer with examples.

 

Assignment C

 

Question No.  1           Marks - 10

Innovation is defined as_________  

 Options          

  1. the commercialization of a new product or process   
  2. The invention of a new product or process.   
  3. New product or process idea.
  4. the implementation of a new production method

 

Question No.  2           Marks - 10

Process innovation refers to:  

 Options          

  1. the development of a new service     
  2. the development of a new product    
  3. the implementation of a new or improved production method         
  4. the development of new products or services

 

Question No.  3           Marks - 10

Innovation can help to provide a temporary competitive advantage when   

 Options          

  1. barriers to entry are high        
  2. barriers to imitation are low and intellectual property rights are difficult to enforce
  3. there are few other competitors         
  4. barriers to entry are low

 

Question No.  4           Marks - 10

Following establishment of a dominant design in the product life cycle, what would you expect to happen?           

 Options          

  1. Emphasis on product innovation rather than process innovation      
  2. Emphasis on process innovation rather than product innovation      
  3. Competition to increase as new firms enter the industry       
  4. Competition to decrease as more firms exit than enter the industry

 

Question No.  5           Marks - 10

Established firms relative to new firms are better at:

 Options          

  1. all types of innovation
  2. innovation which is competence-enhancing  
  3. innovation which is competence-destroying  
  4. Innovation which is disruptive

 

Question No.  6           Marks - 10

In which markets are network effects likely?

 Options          

  1. Markets subject to increasing returns 
  2. ´Multi-level markets   
  3. Hi-tech product markets        
  4. All of the above

 

Question No.  7           Marks - 10

Which of the following are valuable in a standards war?      

 Options          

  1. Competitive advantage          
  2. Late mover advantage
  3. Early mover advantage          
  4. Technological advantage

 

Question No.  8           Marks - 10

The fundamental challenge of knowledge transfer in multinational firms is:

 Options          

  1. transferring explicit knowledge across borders         
  2. transferring tacit knowledge across borders  
  3. creating tacit knowledge in overseas subsidiaries      
  4. transferring tacit and explicit knowledge across borders

 

Question No.  9           Marks - 10

What potential advantages can be gained from involving overseas subsidiaries in R&D activities?

 Options          

  1. Local subsidiaries offer financial advantages such as lower land and labour costs  
  2. Local subsidiaries offer access to local companies    
  3. Local subsidiaries offer access to technical knowledge and skills    
  4. Local subsidiaries offer financial advantages as well as access to local markets, technical knowledge and skills

 

Question No.  10         Marks - 10

Outsourcing of innovation globally is more likely where      

 Options          

  1. Innovations are autonomous  
  2. Innovations are systemic        
  3. Innovations are systemic or autonomous       
  4. Innovations are made by service sector firms

 

Question No.  11         Marks - 10

Being a manager, with no environmental uncertainty or threat of competitors’ new products, would be simple without ______________.     

 Options          

  1. government regulations          
  2. diversity         
  3. cultural differences    
  4. organizational change

 

Question No.  12         Marks - 10

Managing change is an integral part of ______________     

 Options          

  1. top management’s job
  2. middle-level management’s job         
  3. the first-line manager’s job    
  4. every manager’s job

 

Question No.  13         Marks - 10

Which of the following is not an external force of change?  

 Options          

  1. marketplace    
  2. government laws and regulations      
  3. economic changes      
  4. workforce

 

Question No.  14         Marks - 10

Which one of the following is an important source of idea generation due to their familiarity with the needs of market?          

 Options          

  1. Existing products and services          
  2. Distribution channels 
  3. Federal government   
  4. Consumers

 

Question No.  15         Marks - 10

Which of the following statements about the entrepreneurial climate is (are) true?  

 Options          

  1. Trial and error are discouraged          
  2. Resources of the firm need to be available and easily accessible      
  3. A multi-disciplinary approach is discouraged
  4. Failure are not allowed

 

Question No.  16         Marks - 10

A patent is granted for a specified amount of time because of the assumption:       

 Options          

  1. That during this time firm will cover its development costs  
  2. That firm will earn a sufficient profit during this period       
  3. To limit the monopoly of the firm     
  4. That it will stimulate idea and development of a better product.      

 

Question No.  17         Marks - 10

Which one of the following is a barriers to news product creation and development          

 Options          

  1. Trial and error
  2. Opportunity parameter           
  3. Opportunity cost        
  4. Intrapreneurship culture

 

Question No.  18         Marks - 10

 Which is the balance points of Entrepreneurship?    

 Options          

  1. Means of social changes        
  2. Increase in employment opportunities           
  3. Optimum utilisation of resources       
  4. All of the above

 

Question No.  19         Marks - 10

Which of the following techniques is an excellent method for initially screening ideas and concepts in addition to generating new ideas?       

 Options          

  1. Focus group   
  2. Brain storming
  3. Problem inventory analysis    
  4. Reverse brainstorming

 

Question No.  20         Marks - 10

Which one of the following is NOT an intrapreneurial leadership characteristic?    

 Options          

  1. Understands environment      
  2. Encourage the team work      
  3. Not flexible    
  4. Persistent

 

Question No.  21         Marks - 10

Which is the part of concept of Entrepreneurship?   

 Options          

  1. High achievement capacity    
  2. Organisation building
  3. Group level reaction   
  4. All of the above

 

Question No.  22         Marks - 10

Which is the cause of emergence of Entrepreneurship?        

 Options          

  1. Environmental factors
  2. Socio-cultural factors 
  3. Individual factors      
  4. All of the above

 

Question No.  23         Marks - 10

_____________ is the practice of starting new organisations or revitalising nature organisations particularly new business generally in response to identified opportunities.    

 Options          

  1. Partnership     
  2. Marketing       
  3. Research Management           
  4. Entrepreneurship

 

Question No.  24         Marks - 10

The decision to start a new business is taken when one perceives that forming a new business is   

 Options          

  1. Possible          
  2. Desirable        
  3. Accurate         
  4. Both (a) and (b)

 

Question No.  25         Marks - 10

Entrepreneurial experience becomes increasingly important as         

 Options          

  1. Work load increases   
  2. Complexity of venture increases        
  3. Complexity of work increases
  4. None of the above

 

Question No.  26         Marks - 10

Individuals who help the entrepreneur in business activities are called        

 Options          

  1. Role models   
  2. Moral support networks         
  3. Professional support networks           
  4. Business support networks    

 

Question No.  27         Marks - 10

Which is types of creativity? 

 Options          

  1. Creativity by serendipity       
  2. Exploratory creativity
  3. Normative creativity  
  4. All of the above

 

Question No.  28         Marks - 10

Which statement is true?        

 Options          

  1. Forecasting enables the Entrepreneur to develop plausible projections for the future
  2. Assessing the environment is the most difficult and important of the four tasks of environmental analysis           
  3. Stakeholder analysis helps the entrepreneur identify which groups and interests are friendly to the new venture and which are hostile
  4. All of the above

 

Question No.  29         Marks - 10

Developing a new idea through inquiry and testing is called

 Options          

  1. Heuristics       
  2. Forced relationship    
  3. Scientific method       
  4. Value analysis

 

Question No.  30         Marks - 10

Which of the following firm achieves modest growth          

 Options          

  1. High potential growth firm    
  2. Foundation firm         
  3. Life style        
  4. Public company

 

Question No.  31         Marks - 10

The entrepreneur utilizes the resources through         

 Options          

  1. Identifying and evaluating the opportunity   
  2. Developing a business plan    
  3. Implementing the business plan         
  4. Manage the enterprise

 

Question No.  32         Marks - 10

Which is the objects of Entrepreneurial Development Programmes?

 Options          

  1. Promotion of self-employment          
  2. Promotion of cottage and small scale industries        
  3. Promotion of first generation businessmen    
  4. All of the above

 

Question No.  33         Marks - 10

Which is the advantage of product layout?   

 Options          

  1. Smooth production without any interruption
  2. Mechanisation of material handling   
  3. Low cost of material handling           
  4. All of the above

 

Question No.  34         Marks - 10

Which of the following contains large number of new ideas?          

 Options          

  1. Files of Patent office 
  2. Official Gazette         
  3. Government patent Board     
  4. All of the above

 

Question No.  35         Marks - 10

Analysis of the business environment includes         

 Options          

  1. Forecasting to project the future        
  2. Monitoring to track development      
  3. Scanning to detect change     
  4. All of the above

 

Question No.  36         Marks - 10

A typical inventor is usually  

 Options          

  1. Highly creative & in love with the invention 
  2. Does not encourage change   
  3. Willing to modify the invention in order to augment commercial benefit    
  4. None of the above

 

Question No.  37         Marks - 10

All of the following are essential to maintain secrecy EXCEPT       

 Options          

  1. Train employees to refer sensitive questions to one person   
  2. Discuss business in public place         
  3. Provide escorts for all office visitors 
  4. Use simple security such as locked file cabinets

 

Question No.  38         Marks - 10

Which one of the following is a sound strategic option for an entrepreneur when synergy is present?        

 Options          

  1. Merger
  2. Joint venture  
  3. Minority interest        
  4. Majority interest

 

Question No.  39         Marks - 10

The activity which occurs when the new venture is started is called

 Options          

  1. Motivation     
  2. Business skills
  3. Departure point          
  4. Goal orientation

 

Question No.  40         Marks - 10

Which of the following is the most important for the entrepreneur, while starting a new venture, to make an assessment of?

 Options          

  1. Risk    
  2. Profit  
  3. Market
  4. Competitors
  Answers :-

Sz/01/2017

Innovation in Business &Enterprise MBA SEM 111

  

Assignment A 

  1. Write a brief note on the following:
  2. Simplicity and innovation

Answer:- Simplicity is that the property, condition, or quality of being easy or un-combined. It usually denotes beauty, purity, or clarity. easy things area unit typically easier to clarify and perceive than difficult ones. it´s additionally a term accustomed denote candour , guilelessness, innocence, straightforwardness, and freedom from duplicity. Simplicity is that the state or quality of being easy. one thing that {is easy| is straight forward |is easy} to grasp or make a case for appears simple, in distinction to one thing difficult. Simplicity, clarity, and priority area unit intimately joined. For a corporation to take care of a spotlight on its highest priorities, it should change and repeatedly clarify them in order that everybody within the organization is aware of implicitly what to try and do and what to not do. The priorities inevitably begin to mean various things to totally different individuals. If priorities aren´t endlessly simplified and processed, they´re continuously at the mercy of consequent new factor, our natural forgetfulness, and a failure to shield the most effective practices from the encroachment of recent, however less effective, practices or programs.

While the method of translating a thought or invention into an honest or service that makes price or that customers pays. To be referred to as AN innovation, a thought should be replicable at a {cost-effective} cost and should satisfy a particular want. Innovation involves deliberate application of knowledge, imagination and initiative in etymologizing bigger or totally different values from resources, and includes all processes by that new ideas area unit generated and reborn into helpful product. In business, innovation usually results once ideas area unit applied by the corporate so as to any satisfy the requirements and expectations of the purchasers.

  1. Creativity and innovation

Answer:- Creativity is that the capability or act of conceiving one thing original or uncommon

Innovation is that the implementation of one thing new.

Invention is that the creation of one thing that has ne´er been created before and is recognized because the product of some distinctive insight.

If you´ve got a brainstorm meeting and create by mental act dozens of latest ideas then you´ve got displayed creative thinking however there´s no innovation till one thing gets enforced. someone has got to take a risk associate degreed deliver one thing for an original plan to be become an innovation. associate degree invention may well be a product or device or methodology that has ne´er existed before. therefore each invention is associate degree innovation. however each innovation isn´t associate degree invention.

Innovations will be progressive or radical. each improvement that you simply build in merchandise or services will be seen as associate degree progressive innovation. Most businesses and most managers area unit smart at progressive innovation. They see issues within the current set-up and that they fix them. Radical innovations involve finding a wholly new thanks to do things. intrinsically they´re usually risky and troublesome to implement. Larger organisations and most managers area unit poor at radical innovation. If you had been creating L-P records then you´ll have introduced progressive innovations in your style and selling. but if this was your strategy then a radical innovation, the CD, would eventually kill you. The CD manufacturer might equally introduce varied progressive enhancements. all over again a radical innovation, music downloads over the net, would build your giving obsolete. therefore we´d like to perpetually hunt for progressive innovations and radical innovations. we´d like to develop creative thinking and switch it quickly into innovation.

  1. How would you promote innovation at grass-root level? Support your understanding with relevant examples.

Answer:- Grass-root level innovations might hold the key to overcoming a number of the resource challenges we tend to face today; and that we can be missing them. The solutions below square measure some exceptional samples of grassroots level innovations. The question is – what number different potential world ever-changing solutions have remained in obscurity at supply, ne´er replicating sufficiently to form a major change? to push innovation at grass root level we´ve got to targeted on following aspects:-

Combating temperature change, water and food security in arid regions

A single farmer in Burkina Faso started AN agricultural revolution within the semi-desert space wherever he lives, that has unfold to different elements of Burkina Faso and into neighbour countries. The ´tree farming´ approach he championed (by in person movement to around one hundred different villages by motorbike) has re-greened ample acres within the dry Sahel region; enough in order that the results is seen from space. The innovation: pits that were mamma to concentrate precipitation onto crop roots were created larger, and manure was value-added to them throughout the season. Tree seeds within the manure up with the crops and these tree saplings hyperbolic soil fertility, protected crops from overwhelming heat, and acted as windbreaks. At the macro level, square measureas with trees are additional economical for water gather than areas while not. Water tables within the areas with arboriculture have up since the strategy gained quality, despite a growing population.

System of rice intensification: increasing crop yields whereas reducing water demand and chemical usage.

In a recent article, another agricultural approach was explored in depth: the system of rice intensification (SRI). Through applying zero value techniques to rice farming, little scale rice farmers have hyperbolic their crop yields by anyplace from 30-50% whereas reducing water and chemical usage. What should be noted is that this answer has been around for thirty years. SRI is attributable to Henri First State Laulanie, UN agency came upon the methodology whereas operating with farmers in Madagascar in 1983. He discovered AN organization to push SRI. it absolutely was concerned by Norman Uphoff at the Cornell Institute for Food, Agriculture and Development and advocated for post 1998, and shortly different countries started adopting the strategy. SRI is currently calculable to be utilized by 4-5 million farmers worldwide.

These examples square measure atiny low sample of grassroots solutions. take into account the concept of employing a plastic bottle as a light-weight bulb in slums while not power as another sacred example of bottom up innovation. The question then is the way to make sure that these solutions square measure discovered and disseminated, instead of remaining localised within the areas they´re formed. luckily, there square measure each personal and charitable organisations actively rising the probabilities of ideas spreading.

  1. Explain briefly the process of innovation through idea generation.

Answer:- Idea generation is that the inventive method or procedure that a corporation uses so as to work out solutions to any variety of adverse challenges. It involves turning out with several ideas in a very discussion, choosing the most effective plan or ideas, operating to form a thought to implement the concept, then really taking that concept and swing it into observe. the concept may be tangible, one thing you´ll bit or see, or intangible, one thing symbolic or cultural. Innovation poses challenges. If one step of {the method|the method} is weak or if a corporation lacks a scientific process for acceptive and nurturing innovative ideas, the organization can trust good fortune. however with the proper approach, mentality and resources, a corporation will reap the strategic edges of growth. whereas the aim of innovation is “simply” to form business price (simply is in quotes as a result of it’s clearly not really easy to do), the worth itself will take many alternative forms. As we have a tendency to noted higher than, it may be progressive enhancements to existing merchandise, the creation of breakthroughs like entirely new merchandise and services, value reductions, potency enhancements, new business models, new ventures, and numberless alternative forms further.

The method of making innovation is to find, create, and develop ideas, to refine them into helpful forms, and to use them to earn profits, increase potency, and/or cut back prices. Here we have a tendency to concentrate on the way to try this, the method of innovation.

In the pursue innovation it’s obvious that several ideas at the input stage become a number of completed, helpful innovations at the output stage, thus folks pronto visualize the innovation method as a funnel: various ideas are available in the wide endwise the left, and a number of finished innovations come back to promote from the slender finish at the proper.

Ideas ar so the seeds of innovation, even as ore taken from the bottom is that the stuff of steel, or waving fields of wheat offer the stuff for bread. however it takes plenty of labor to mine the raw ore and rework it into steel, or to arrange the fields to grow the wheat long before it becomes bread. It’s an equivalent with innovation; we have a tendency to don’t begin by assembling raw ideas. Instead, we all know that innovation may be a core component of our organizations’ strategy, thus we´ve got to start out the innovation method itself with strategic thinking to assure that the outputs of innovation ar totally aligned with our strategic intent.

  1. Explain the concept of Disruptive Innovation. How would you implement this technique in an entrepreneurial venture? Support your answer with relevant examples.

Answer:- Disruptive innovation, a term of art coined by Clayton Christensen, describes a method by that a product or service takes root at first in easy applications at rock bottom of a market so unrelentingly moves up market, eventually displacing established competitors. A unquiet innovation is associate innovation that makes a brand new market associated price network and eventually disrupts an existing market and price network, displacing established market leading companies, merchandise and alliances.

Disruptive innovations had a significant impact on business structures, from visit pc marketing to communications, and have typically given rise to social modification within the method. however the social changes caused by unquiet innovations area unit for the most part unintended; they´re merely the by-products of following a business chance. With chemical change innovations, however, social modification is that the primary objective.

Generally, unquiet technologies underperform established merchandise in thought markets. however they need different options that a couple of fringe (and typically new) customers price.” In different words, unquiet innovations can open up a brand new section within the market, that early adopters get on 1st to be followed by the final client audience.

On the opposite hand, progressive innovations area unit, in line with the Business wordbook, “a series of little enhancements to associate existing product or product that sometimes helps maintain or improve its competitive position over time.” As against unquiet innovations, progressive ones area unit a lot of organic process in nature, as they won’t enable you to carve out a brand new market, however instead strengthen your position within the market by merely processing your already existing providing, or provide a product with a small twist on one thing that was already winning, and build it your own.

It looks wide established within the business world that each unquiet and progressive innovations area unit thought-about, well, innovations. So, why did Apple catch most flack for launching a product that provided associate organic process step in their established i pad’s lifecycle? One word: Expectations. individuals have grownup to expect Apple to “wow” them at each new product launch, whereas the corporate itself looks content with tweaking its already winning merchandise. that the general public’s perception looks to be that unquiet innovations solely is known as innovations, whereas progressive ones area unit solely refinements.

Let’s take associate example of a burgeoning bourgeois, or already within the method of mounting your own little business. Your concern is that a product/service you’re able to launch isn’t innovative enough, that you simply won’t be ready to differentiate yourself from the competition. what is going to verify the success of your business is however you manage it, from thought to launch, whether or not the market features a want for it, so commercialism the euphemism out of it. once making an attempt to boost capital to fund your business, investors and VC’s (Venture Capitalists) are going to be gazing your business set up, and the way you intend on sustaining growth for your company, not simply at however “innovative” your product/service is. Execution, and semi permanent viability area unit key, not nice and glossy new stuff that’s getting to generate a couple of oohs and aahs for two minutes so fade out. thus certify you’ve done your prep (i.e., marketing research, resources designing, etc.) and take the leap!

  1. You are successfully running a new venture in telecom sector. How would you innovate in the space of using reverse innovation? Support your answer with examples.

Answer:- Reverse innovation or trickle-up innovation may be a term bearing on associate degree innovation seen 1st, or seemingly to be used 1st, within the developing world before spreading to the industrialised world. The term was popularized by Dartmouth professors Vijay Govindarajan and Chris Trimble and GE´s Jeffrey R. Immelt. the method of reverse innovation begins by specializing in wants and necessities for low-priced merchandise in countries like Asian country and China. Once merchandise square measure developed for these markets, they´re then sold-out elsewhere - even within the West - at low costs that produce new markets and uses for these innovations.

Typically, corporations begin their globalisation efforts by removing dearly-won options from their established product, and plan to sell these de-featured merchandise within the developing world. This approach, sadly, isn´t terribly competitive, and targets solely the foremost affluent segments of society in these developing countries. Reverse innovation, on the opposite hand, ends up in merchandise that square measure created domestically in developing countries, tested in native markets, and, if triple-crown, then upgraded purchasable and delivery within the developed world.

The term ´reverse innovation´ was originally outlined otherwise as - innovation blowback - by John Hagel III and John Seely Brown in their 2005 McKinsey Quarterly article titled Innovation blowback: tumultuous management practices from Asia. In essence, their message warns that "the outer boundary of today´s world business surroundings is wherever innovation potential is that the highest... Edges outline and describe the borders of corporations, markets, industries, geographies, intellectual disciplines, and generations. they´re the places wherever unmet client wants realize surprising solutions, wherever tumultuous innovations and blue oceans get birthed, and wherever edge capabilities remodel the core competencies of the corporation.

For example:- reverse innovation will be found across varied industries and geographies:

Nokia is testing new business models for advertisements in Kenya; it´s additionally created new options in its hand-held phones sold-out within the U.S.A., supported observations of however phones square measure shared in Ghana. Microsoft is making new phone app services for "dumb" phones which permit users with existing, non-smartphone devices to access internet sites like Twitter, Facebook. designed for markets in Asian country and South Africa, there´s shocking potential for these apps as a low-priced cloud computing platform.

  1. Create a Customer centred innovation map for an industry of your choice. Explain the difference in approach while implementing this strategy as compared to the Producer centred innovation.

Answer:- This post is a component of HBR’s making a Customer-Centred Organization. we have a tendency to all apprehend that folks “hire” product and services to induce employment done. workplace staff rent word-processing computer code to form documents and digital recorders to capture meeting notes. Surgeons rent scalpels to dissect soft tissue and electro cautery devices to regulate patient hemorrhage.

While all this appears obvious, only a few firms use the angle of “getting the duty done” to find opportunities for innovation. In fact, the innovation journey for several firms is small over hopeful wandering through client interviews. Such unsystematized inquiry could sometimes surface attention-grabbing titbits of knowledge, however it seldom uncovers the most effective ideas or Associate in Nursing complete set of opportunities for growth. Job mapping differs substantively from method mapping in this the goal is to spot what customers try to induce done at each step, not what they´re doing presently. for instance, once Associate in Nursing anaesthesiologist checks a monitor throughout a surgical treatment, the action taken is simply a method to Associate in Nursing finish. police investigation a modification in patient important signs is that the job the anaesthesiologist is attempting to induce done. By mapping out each step of the duty and locating opportunities for innovative solutions, firms will discover new ways in which to differentiate their offerings.

Anatomy of a client Job

Over the past ten years, we´ve got mapped client jobs in dozens of product and repair classes that span skilled and shopper services, sturdy and expendable merchandise, chemicals, software, and lots of alternative industries. Our work has unconcealed 3 elementary principles regarding client jobs.

All jobs square measure processes.

Every job, from transplantation a heart to cleanup a floor, includes a distinct starting, middle, and end, and contains a collection of method steps on the manner. once mapping the duty of laundry garments, for instance, a corporation would quickly discover that the step of “verifying that stains are removed” typically comes at the top of the duty sequence, when the garments are far from the washer, dried, folded, and place away—too late to try and do a lot of of something regarding it. If the washer itself may discover the presence of any remaining stains before the wash cycle ended—sequence once verification takes place—it may take the required actions at a way a lot of convenient purpose within the job.

All jobs have a universal structure.

That universal structure, despite the client, has the subsequent method steps: shaping what the duty requires; distinguishing and locating required inputs; making ready the elements and therefore the physical environment; confirming that everything is ready; execution the task; observance the results and therefore the environment; creating modifications; and terminal the duty. as a result of issues will occur at several points within the method, nearly all jobs conjointly need a drag resolution step.

  1. What do you understand by the Discovery-driven planning process? How does it differ from the conventional planning process? Support your answer with relevant examples.

Answer:- Discovery-driven designing could be a multi-step designing approach designed for brand new ventures. It encourages planners to maneuver far from the normal method of simply making monetary projections. one in every of the core ideas of the discovery-driven designing methodology is to develop a group of careful assumptions round the projections. they must even be quantified and tested against the set up. What it will is that the following: instead of simply speech “These ar the results we have a tendency to ar expecting” you currently have a platform for responsive a vital question “What needs to prove true for our plan/ forecast to work”? you ought to rank the assumptions by importance and/ or the amount of uncertainty. the method of developing ought to|this could} be quite valuable itself and one should be in a very position to spot vital issues or opportunities. Once the assumptions are created and tested, they must be assessed on AN on-going basis.

While within the standard designing, Surveys have indicated that as several as five hundredth of firms ar but happy with results from high-priced Strategic designing Sessions. A cause for these poor results could also be discovered within the long list of excuses given by each parties. the fact is that “lack of qualified research” is that the main cause for this horrific failure rate. Offsite brain storming sessions in a very relaxed setting ar meant to feature a resourceful price to communications and ideas that the team can discover and share. knowledgeable supporter with a transparent understanding of your business model is in a position to inspire “out of the box thinking” not offered throughout the same old feverish setting. Quality preparation, a positive team in a very relaxed setting, and knowledgeable supporter that understands your business model ought to internet the superb results you expect from this method. standard Strategic Planners give a proper document shortly when the off-site meeting.

For Example:- Let’s assume we have a tendency to ar a sales manager. we´ve got to develop a sales forecast for ensuing quarter. Following a best practices approach, we have a tendency to solely scrutinize our greatest customers thoroughly. we have a tendency to pay time developing the forecast – revenue numbers by client, by product family, by month. Perfect. The numbers look nice once we compare them against budget. And our boss is pleased with the planning of the forecast. Most processes stop right there. an honest manager would most likely raise many robust queries here and there. however developing assumptions permits U.S.A. to travel more than that. Incorporating this into the method as a step may facilitate U.S.A. establish risks and opportunities.

Discovery-driven designing represents a really fascinating and pragmatic approach. I extremely suggest that you just browse a lot of concerning this subject. the thought of incorporating assumptions and their take a look at into our daily designing and prognostication exercises might be quite powerful. It’s not rocket-science. Some firms already try this. However, it´s sometimes done at a high level (GDP growth higher than a pair of.5%). Managers in the slightest degree levels will take pleasure in this concept.

  1. How does team-building impact the innovation strategy of an organization? Support your answer with relevant examples.

Answer:- More and additional organizations ar specializing in groups as sources of innovation as a result of analysis and knowledge have shown that groups ar more practical than people at generating new answers to tough or novel issues. groups generate new information in organizations by combining the specific and understood information of individual team members. AN understanding of understood information by team leaders will greatly enhance the effectiveness of individual interactions and improve the natural action of groups. Teambuilding techniques that improve the flexibility of team members to transfer, capture, and mix understood information into new information could also be a supply of sustained competitive advantage for a corporation. In easy terms, express information could also be delineated as info that may be written and communicated from one person to a different. On the opposite hand, understood information is info that will not be simply known or expressed. for instance, AN tough swimmer’s understood information of respiration and muscle management permits the swimmer to stay buoyant, albeit the swimmer isn´t consciously aware that she or he possesses or uses such information.

Explicit and understood information exist at the individual, group, and structure levels. At the individual level, express information includes knowing accounting or basic cognitive process sports trifle, whereas understood information might embody woodwork skills or a way to knead dough to provide the most effective flavour. Written structure policies and structure charts ar samples of express structure information. structure understood information includes the organization’s culture, routines, and alternative information-based assets. the most goals of team-building ar to enhance productivity and motivation. Taking staff out of the workplace helps teams break down political and private barriers, eliminate distractions, and rejoice. the advantages of team-building programs ar thus vital that several firms have incorporated teambuilding methods into their normal coaching info.

Some of these edges include:

  • Improves morale and leadership skills
  • Finds the barriers that thwart creative thinking
  • Clearly defines objectives and goals
  • Improves processes and procedures
  • Improves structure productivity
  • Identifies a team’s strengths and weaknesses
  • Improves the flexibility to downside solve

Solve by www.solvezone.in contact for more details at 8882309876

Assignment B

Case Detail:-

Mansukhbhai Prajapati, a potter living in rural Gujarat, is completely untaught in English. But the lack of formal education has not hindered this grassroots entrepreneur from building a thriving business using just clay. Prajapati, who belongs to Nichimandal, a village in Rajkot, Gujarat, is the founder of Mitticool Clay Creation, a company that makes refrigerators, water filters, cookers, hot plates and other such items of daily use from clay. It all began when Prajapati first built a clay refrigerator that naturally cools the food inside, and does not depend on conventional sources of energy. This cooling process can keep water, fruits and vegetables fresh for a week, while milk can be preserved for three days. The product now is priced at just `2,000 — almost one-tenth of the basic refrigerator models from LG, or Whirlpool.  

This fridge also preserves the original taste of vegetables and fruits," says Prajapati. Mitticool´s products have captured the imagination of the rural areas. Today it has revenues of around `30 lakh and has sold over one lakh products in just six years since it started off. Prajapati is among the new breed of several hundred grassroots innovators in India who are using imagination and innovation to solve basic issues of deprivation at the bottom of the pyramid.

Such innovations are finding a market not just in India but also in other emerging markets and even developed nations. For instance, while Prajapati sells to Indian retailers such as Big Bazaar, he says that the same products have also reached customers in London, America, Singapore and Africa, thanks to the National Innovation Foundation (NIF). "We are reversing the model of globalisation. It is now emerging from India," says professor Anil Gupta, faculty member at the Indian Institute of Management, Ahmedabad, and executive vice-chairman of NIF. "This model is not about business to consumers, but grass-root to global markets."

"India´s rural market spread along 600,000 villages, covering 110 million rural households and over 700 million people. This offers huge market for low-priced utility products," says Paul Basil, founder and CEO, Villgro Innovations Foundation, an NGO that focuses on rural markets. These innovations are becoming a force to reckon with at a time when large corporations are spending billions of dollars to kick-start new innovations.

Just as Jeganathan´s mission is to cut infant mortality, the common factor for innovation at the grassroots level is the impact they have on a large number of people. Piramal Water is a for-profit business set up under the aegis of the Piramal Foundation. The company provides medium-scale water purification machines to rural franchisees. These franchise owners in turn distribute the clean water to the households in the area surrounding the unit. The company has 117 franchises and provides potable water to around 65,000 rural Indians. "We provide the machine, maintenance and servicing," said Anand Shah, CEO, Piramal Water. The franchise owner pays `2 lakh upfront and 40% of the revenues to Sarvajal. A can of 20 litres of drinking water is made available at just `4. "We are not just providing clean water, we are also trying to create rural entrepreneurs," says Shah.

Despite so many innovations, only firms like SKEPL have been able to scale up. "For these innovations to scale and reach to global audience, it is important that ventures are run as for-profit businesses," says Rita Soni, CEO, Nasscom Foundation. Despite all these, India is set to become a hub for grassroot innovations and a test market for MNCs to tap other emerging countries as well. According to NIF´s Gupta, large corporations cannot think the way these innovators can, because they are closer to the problem. "They are teaching them new rules. The future is going to be dematerialised economy as it will be driven by knowledge," says Gupta of NIF.

Question

  1. Based on the article, list down the challenges faced by the innovator at grass root level. Support your arguments with relevant assumptions.

Answer:- Low tech, grass-root level innovations might hold the key to overcoming a number of the resource challenges we have a tendency to face today; and that we may be missing them. The solutions below ar some exceptional samples of grassroots level innovations. The question is what percentage different potential world ever-changing solutions have remained in obscurity at supply, ne´er replicating sufficiently to create a big modification. Grassroots innovation movements get innovation processes that ar socially comprehensive towards native communities in terms of the information, processes and outcomes concerned. whether or not centered in resource-based sectors, or producing and services, whether or not in rural or urban settings: negative voices and movements sporadically need a quite completely different vision and observe of innovation and technological modification. Examples traditionally embrace, the acceptable technology movement within the Seventies, the People’s Science Movement in Bharat|Bharat|Asian country|Asian nation} within the 1980s; and nowadays embrace the Honey Bee Network in India, and also the technologies for social inclusion movement in geographical area. we have a tendency to cluster these initiatives underneath the label ‘grassroots innovation movements. we have a tendency to embrace in grassroots innovation movements folks and organisations coming back from outside native communities, like engineers and designers, however World Health Organization interact the grassroots in innovation processes in their concepts from the point in time, and place native information and communities within the lead within the framing of a cooperative innovation activity. Our purpose with this comparison is to spot enduring challenges endeavour grassroots innovation movements which will type the idea of a framework for understanding their information manufacturing contributions to deliberating property pathways. while the contexts and times ar quite completely different, a number of the basics endure exactly as a result of these movements share similar visions and principles. Methodologically we have a tendency to adopt a retrospective analytical approach, whereby recalling and contex tualising the acceptable technology movement and ‘thinking with history’ sensitises United States of America to challenges endeavour grassroots innovation movements nowadays. As such, our work attracts upon the archives and literature related to applicable technology.

  1. Primal Water, in the case above, is a classic example of making profit through satisfying the needs of consumers at the bottom of the pyramid. Do a critical analysis of their model with the limited information given in the case. Support your argument with relevant assumptions.

Answer:- Primal Water is a classic example of creating profit through satisfying the requirements of customers at all-time low of the pyramid. all-time low of the pyramid that truly suggests that all-time low of the wealth pyramid or all-time low of the financial gain pyramid is that the largest, however poorest socio-economic cluster. In world terms, this is often the four billion folks that survive but say $3,000 annually. The phrase “bottom of the pyramid” is employed particularly by folks developing new models of doing business that deliberately target that demographic usually victimisation new technology. This field is additionally usually stated because the Base of the Pyramid or simply the BoP. many articles are written on the potential market by members of business colleges providing practice on the burgeoning market. throughout the past decade, several multinationals have return up short attempting to create a profit by finding the pressing wants of low-income communities. Preoccupied with their social missions, corporations have optimistically taken on difficult comes, solely to be shocked once weak client demand and obstacles like dangerous roads keep revenues low and prices high. Overstretched and enlightened, several switch gears and structure their ventures as break-even social investments that area unit destined to stay tiny. Demand is concerning human centred analysis: however will an organization manage its publicity and communication so as to resonate with the Bop consumer?

Her last purpose on Dignity is very fascinating and might be found within the “design for all” approach: in making a zealous offer, company ought to make sure that it will stigmatize the Bop client. in other words, the merchandise or service can not be perceived as a “designed and created for the poor”. Bop customers area unit like several alternative ones on now and don´t wish to own one thing that may highlight their current economic scenario.

It is quite fascinating to ascertain that these 2 analyses each underline the complexness of the Bop client and therefore the issue to deal with them. selling managers from Western countries can extremely have to be compelled to amendment their outlook and develop new sets of tools if they require to figure with efficiency, however is additionally looks that there´s abundant left to be drained order to totally perceive Bop question.

  1. Critically evaluate the statement "Such innovations are finding a market not just in India but also in other emerging markets and even developed nations". Support your answer with examples.

Answer:- Such innovations area unit finding a market not simply in Republic of India however additionally in alternative rising markets and even developed nations. for example, whereas Hindu deity sells to Indian retailers like huge Bazaar, he says that identical product have additionally reached customers in London, America, Singapore and continent, due to the National Innovation Foundation (NIF). "We area unit reversing the model of economic process. it´s currently rising from Republic of India," says academic Anil Gupta, academician at the Indian Institute of Management, Ahmedabad, and govt vice-chairman of NIF. "This model isn´t regarding business to customers, however grass-root to international markets."

"India´s rural market unfold on 600,000 villages, covering a hundred and ten million rural households and over 700 million individuals. This offers Brobdingnagian marketplace for low-cost utility product," says Paul Basil, founder and chief executive officer, Villgro Innovations Foundation, an  organisation that focuses on rural markets. These innovations have become a force to reckon with at a time once massive companies area unit defrayment billions of greenbacks to kick-start new innovations.

Assignment C

Question No.  1          Marks - 10

Innovation is defined as_________ 

 Options          

  1. the commercialization of a new product or process
  2. The invention of a new product or process.
  3. New product or process idea.
  4. the implementation of a new production method

Question No.  2          Marks - 10

Process innovation refers to:           

 Options          

  1. the development of a new service
  2. the development of a new product
  3. the implementation of a new or improved production method
  4. the development of new products or services

Question No.  3          Marks - 10

Innovation can help to provide a temporary competitive advantage when        

 Options          

  1. barriers to entry are high
  2. barriers to imitation are low and intellectual property rights are difficult to enforce
  3. there are few other competitors
  4. barriers to entry are low

Question No.  4          Marks - 10

Following establishment of a dominant design in the product life cycle, what would you expect to happen?           

 Options          

  1. Emphasis on product innovation rather than process innovation
  2. Emphasis on process innovation rather than product innovation
  3. Competition to increase as new firms enter the industry
  4. Competition to decrease as more firms exit than enter the industry

Question No.  5          Marks - 10

Established firms relative to new firms are better at:       

 Options          

  1. all types of innovation
  2. innovation which is competence-enhancing
  3. innovation which is competence-destroying
  4. Innovation which is disruptive

Question No.  6          Marks - 10

In which markets are network effects likely?        

Options          

  1. Markets subject to increasing returns
  2. ´Multi-level markets
  3. Hi-tech product markets
  4. All of the above

Question No.  7          Marks - 10

Which of the following are valuable in a standards war?

Options          

  1. Competitive advantage
  2. Late mover advantage
  3. Early mover advantage
  4. Technological advantage

Question No.  8          Marks - 10

The fundamental challenge of knowledge transfer in multinational firms is:    

Options          

  1. transferring explicit knowledge across borders
  2. transferring tacit knowledge across borders
  3. creating tacit knowledge in overseas subsidiaries
  4. transferring tacit and explicit knowledge across borders

Question No.  9          Marks - 10

What potential advantages can be gained from involving overseas subsidiaries in R&D activities?    

Options          

  1. Local subsidiaries offer financial advantages such as lower land and labour costs
  2. Local subsidiaries offer access to local companies
  3. Local subsidiaries offer access to technical knowledge and skills
  4. Local subsidiaries offer financial advantages as well as access to local markets, technical knowledge and skills

Question No.  10        Marks - 10

Outsourcing of innovation globally is more likely where  

Options          

  1. Innovations are autonomous
  2. Innovations are systemic
  3. Innovations are systemic or autonomous
  4. Innovations are made by service sector firms

Question No.  11        Marks - 10

Being a manager, with no environmental uncertainty or threat of competitors’ new products, would be simple without ______________.    

Options          

  1. government regulations
  2. diversity
  3. cultural differences
  4. organizational change

Question No.  12        Marks - 10

Managing change is an integral part of ______________

Options          

  1. top management’s job
  2. middle-level management’s job
  3. the first-line manager’s job
  4. every manager’s job

Question No.  13        Marks - 10

Which of the following is not an external force of change?         

Options          

  1. marketplace
  2. government laws and regulations
  3. economic changes
  4. workforce

Question No.  14        Marks - 10

Which one of the following is an important source of idea generation due to their familiarity with the needs of market?    

Options          

  1. Existing products and services
  2. Distribution channels
  3. Federal government
  4. Consumers

Question No.  15        Marks - 10

Which of the following statements about the entrepreneurial climate is (are) true?      

Options          

  1. Trial and error are discouraged
  2. Resources of the firm need to be available and easily accessible
  3. A multi-disciplinary approach is discouraged
  4. Failure are not allowed

Question No.  16        Marks - 10

A patent is granted for a specified amount of time because of the assumption:

Options          

  1. That during this time firm will cover its development costs
  2. That firm will earn a sufficient profit during this period
  3. To limit the monopoly of the firm
  4. That it will stimulate idea and development of a better product.

Question No.  17        Marks - 10

Which one of the following is a barrier to news product creation and development?   

Options          

  1. Trial and error
  2. Opportunity parameter
  3. Opportunity cost
  4. Intrapreneurship culture

Question No.  18        Marks - 10

 Which are the balance points of Entrepreneurship?       

Options          

  1. Means of social changes
  2. Increase in employment opportunities
  3. Optimum utilisation of resources
  4. All of the above

Question No.  19        Marks - 10

Which of the following techniques is an excellent method for initially screening ideas and concepts in addition to generating new ideas?  

Options          

  1. Focus group
  2. Brain storming
  3. Problem inventory analysis
  4. Reverse brainstorming

Question No.  20        Marks - 10

Which one of the following is NOT an intrapreneurial leadership characteristic?        

Options          

  1. Understands environment
  2. Encourage the team work
  3. Not flexible
  4. Persistent

Question No.  21        Marks - 10

Which is the part of concept of Entrepreneurship?         

 Options          

  1. High achievement capacity
  2. Organisation building
  3. Group level reaction
  4. All of the above

Question No.  22        Marks - 10

Which is the cause of emergence of Entrepreneurship?  

 Options          

  1. Environmental factors
  2. Socio-cultural factors
  3. Individual factors
  4. All of the above

Question No.  23        Marks - 10

_____________ is the practice of starting new organisations or revitalising nature organisations particularly new business generally in response to identified opportunities.      

 Options          

  1. Partnership
  2. Marketing
  3. Research Management
  4. Entrepreneurship

Question No.  24        Marks - 10

The decision to start a new business is taken when one perceives that forming a new business is       

 Options          

  1. Possible
  2. Desirable
  3. Accurate
  4. Both (a) and (b)

Question No.  25        Marks - 10

Entrepreneurial experience becomes increasingly important as  

 Options          

  1. Work load increases
  2. Complexity of venture increases
  3. Complexity of work increases
  4. None of the above

Question No.  26        Marks - 10

Individuals who help the entrepreneur in business activities are called  

 Options          

  1. Role models
  2. Moral support networks
  3. Professional support networks
  4. Business support networks

Question No.  27        Marks - 10

Which is types of creativity?

 Options          

  1. Creativity by serendipity
  2. Exploratory creativity
  3. Normative creativity
  4. All of the above

Question No.  28        Marks - 10

Which statement is true?     

 Options          

  1. Forecasting enables the Entrepreneur to develop plausible projections for the future
  2. Assessing the environment is the most difficult and important of the four tasks of environmental analysis
  3. Stakeholder analysis helps the entrepreneur identify which groups and interests are friendly to the new venture and which are hostile
  4. All of the above

Question No.  29        Marks - 10

Developing a new idea through inquiry and testing is called       

 Options          

  1. Heuristics
  2. Forced relationship
  3. Scientific method
  4. Value analysis

Question No.  30        Marks - 10

Which of the following firm achieves modest growth       

 Options          

  1. High potential growth firm
  2. Foundation firm
  3. Life style
  4. Public company

Question No.  31        Marks - 10

The entrepreneur utilizes the resources through  

 Options          

  1. Identifying and evaluating the opportunity
  2. Developing a business plan
  3. Implementing the business plan
  4. Manage the enterprise

Question No.  32        Marks - 10

Which is the objects of Entrepreneurial Development Programmes?    

 Options          

  1. Promotion of self-employment
  2. Promotion of cottage and small scale industries
  3. Promotion of first generation businessmen
  4. All of the above

Question No.  33        Marks - 10

Which is the advantage of product layout?           

 Options          

  1. Smooth production without any interruption
  2. Mechanisation of material handling
  3. Low cost of material handling
  4. All of the above

Question No.  34        Marks - 10

Which of the following contains large number of new ideas?     

 Options          

  1. Files of Patent office
  2. Official Gazette
  3. Government patent Board
  4. All of the above

Question No.  35        Marks - 10

Analysis of the business environment includes      

 Options          

  1. Forecasting to project the future
  2. Monitoring to track development
  3. Scanning to detect change
  4. All of the above

Question No.  36        Marks - 10

A typical inventor is usually

 Options          

  1. Highly creative & in love with the invention
  2. Does not encourage change
  3. Willing to modify the invention in order to augment commercial benefit
  4. None of the above

Question No.  37        Marks - 10

All of the following are essential to maintain secrecy EXCEPT  

 Options          

  1. Train employees to refer sensitive questions to one person
  2. Discuss business in public place
  3. Provide escorts for all office visitors
  4. Use simple security such as locked file cabinets

Question No.  38        Marks - 10

Which one of the following is a sound strategic option for an entrepreneur when synergy is present?           

Options          

  1. Merger
  2. Joint venture
  3. Minority interest
  4. Majority

Question No.  39         Marks - 10

The activity which occurs when the new venture is started is called

 Options          

  1. Motivation     
  2. Business skills
  3. Departure point          
  4. Goal orientation

Question No.  40         Marks - 10

Which of the following is the most important for the entrepreneur, while starting a new venture, to make an assessment of?

 Options          

  1. Risk    
  2. Profit  
  3. Market
  4. Competitors

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