Question

The United Nations has declared 2023 as the International Year of Millets. Many start up firms were influenced with this news and have started to create their own version using millets. One such company was 'Young You'; they created a new variety of product using millets which was targetted at the young generation.

Which of the following stage of enterprise process has the company followed in the above case?

विकल्प

• Opportunity spotting by analysing the needs and problems that exist in the environment.

• Evaluating the ideas received from different sources to find a creative solution.

• Identifying a product or service through innovation.

• Setting up a project and nurturing it to success.

Answer 1

Identifying a product or service through innovation.

Explanation:

As a result of the United Nations Organisation declaring 2013 as the International Year of Millets, the company "Young You" is identifying a product through innovation. In this way, the company started to work on innovating a new product made up of millets.