Question

Read the extract below:

As the world is drowned in the rubble of plastic it has become a now or never situation to protect the world. Indian entrepreneurs, Mrs. and Mr. Smith launched ‘Green India’ in 2021 with the aim to provide a simple replacement for harmful plastic with bamboo-based products. Using technology for processing of the bamboo plant, the brand has developed around 22 products, with manufacturing around 30 lakh Bamboo toothbrushes which have been delivered across India and 18 countries in the world. “India is the second-largest bamboo grower in the world and also one of the biggest bamboo importers. It made me think about how we are underutilising our bamboo resources,” comments Mr. Smith. This agripreneur has since engaged 4,000 farmers from villages of Nanded in Maharashtra to manufacture products. After completing his masters degree from the University of Maharashtra, he joined the IT industry in France. It was there that the idea of starting a sustainable business struck him. He was supported by his wife who helps with human resources and accounts. He gives credit to social media platforms for the boost to sales and growing popularity of eco-friendly products. Green India is now looking to add another 1,000 families to completely depend on their products. Their major aim is to reduce 1 million kilogram of plastic waste every year from next year onwards.

On the basis of the given text and common understanding, answer the following questions:

1. Identify the idea field used by Mr. Smith to launch the business.
2. Explain any two more idea fields other than the one identified above.
3. Giving reasons, mention any two socio-economic benefits that the above business has.

Answer 1

1. Natural
2. • Existing product: A business will improve or change its existing products by modifying the ingredients or expanding the offering. This is done to keep up with competition and increase sales.
   • Market driven: Market research provides important information to identify and analyze the market need, market size, competition and general environment. This helps in idea generation and better decision making.
3. Socio-economic benefits are:
   • Better utilisation of local resources: Using locally grown bamboo which was underutilised.
   • Supporting environment/sustainability: Provide a simple replacement for harmful plastic with bamboo-based products.