TE-CL

Subient: oed Management

Aasianmert -d
Q) bat are he chaotenstics o Successkhl entrepreneur

Curiasty| Adaptabilty

Chosacteristics a
Successfu
entrepreneus

leam Building! Peraistence

Long-term facusl
 Cuniaakyl
Suceestul entremnene urs haue a sense atuiosihy
that allouyg them to ceoinuauslu seek nes
apportunihe
Rather han settlbaa torolhot they knao, cusios
entrepreneurs ask challena lna queshions explore
Q. Adaptability'
Along ith curigiteconmes the need forsbructuret
erpenmentahonaHh eac opporkuniky thatiadses,
an entre preneur must un tests to determine 4s
sorthhile to pursue,
3.Team Building
A Qreat entrepteneut ausare a their strenaths &
uieaknessthey build wel-rounded teams
T4's the entrepreneunal team, Tather 4han an
individua)that dire Q venture toard SuCCeSS.
4.Pecsistente
alile many euCce sstul entre preneurs tonortable
with the possibilty af taling Tt doesn'4 the
give up easily. ather, dheu see dalures as oppT
tunities to leara & qroLa
5. Lona Texm Fous.
inallymoat people think a entrepreneurshi_ as the
praLess aF staching a business lahile the earu
stages o Iaunching a wentue are ccal to its
Success the process doesn end once tlsls aperahonal
O2) ERplain in delatl
)Raduct Developnenl )Process

)Roduct Devalopment!
oduct deuelopmnent aeters to the complete
carmplete poce1g
o binging a eoo pmduct to market of Impnov) nq
an enshng
Tdea Ghener alkon his inYolves biainstorming 2X
ionovaiy e deas todeuelop a neus oroductcollech'n q
(ontepl Develapment& screening: Ideasc
based on leasibiliby custorner demand analy zed
alue
DesianRototypicg: Cnqineers X desianers Create
patnbypes to iS ualize the pOduct test
Tesing Nalidaionheproduct
testing for qualktydurabilit X undergoes igorouS
market aceptance.
Rroduchion &Conmerializaian: Moss
follawed by moxkeing producon beaios,
distbuhon
feed back anhnuous Inaprovement Based
customer
teedbackaprovements
enhaneepertomanne soistacion made to

EXERCISE NUTLE
WITH EXPERIENTIAL LEARNING
 )oLess
Plannins ContepSyslan-leuelyDelailastinguciuc
develapment Design Relinement Ramp-up
dasian

Plaming The planning arluly is olenraPeed to

phase zero" berause i precedes the oeck
approval X launch o the actua prdut develapro t
Concept development In the concest development phase
the needs a he taTaet mar ket identihed
alkernaive product contepts are aenerated & evaluated
System -level desiqn. The system-level design phase
inludes the deliniion o the prsduck architecture
decomposiion o the oroduct into Subayste ms
Components

Detail deaign The dekal desian phase includeg the

Complete specicakon a the qeometg materals 2
tolerancea cl alI the unique parts n the prodet

Testing Resnement The tashigg aliaement phase

iovolues the Comstuch on eval uaton o mulhple
preproduchion version.s Pthe patuck
Produch'or mamerup' n the mmduchon Tamp-up
phase, the orocluct is pmade using the intended
productin Sy stem
Qa) baplaiy the legal issuesrelaled Ho procuc
developrment entre preneurship in dektleith
suitable exanmples,
legal Sues in product deuelopment entrepreneur ship,

Trademarks - Pastect hrand naoes, logosX Symbcls.

Unauthorized use
E - A new sneaker Company
Compang ng a lago Similar to
Nike's swoosh may tace tcodemark intiageme nt
2. Patents Garant exclusive nghks to n iavention
prevenhing sthers Rrorn copying orselliag it
Ez:- A tech startup developing neu type of wireless
charaer mustpatentIE to preventcompeitors
Arom Copying the desiqn

3.Capyight - rotects onginal content like sotare

code bosks music & desians
Ex A qame
A developer copyaq charactersfom
another aame without per
permissian Violates copyight laoi

L4. Trade-Secreks Canfidenial busines aformationsuch as

formulas O proces1es that providea Competiiue edqe
Exs Coca-Calq pratets its secret Yecipe as atrade
secret ta maintain ts markek hosiian

5.licen SaagGrants permission to use inte llectua

exkaia Conditions
papery under certaa
Oa) plai, io dotaà hous_productdevelapoent Yelfes
Çustomerneeds.
Raduct developmentanrcess that transfoMS <an
dea nto market reods praduct A key factor in
this praLess
s underatanding addressoq customer needE
LTdentliag Maket Gapsi
problems customers tace Research helps ad
EqEg A smastphane
company improves.
Compang impraves batteq ile based
Complaints

2.Custoamiz\ng teatures Paducts

specihc issues ore designed to sahe
Ea A tness app adds perSanalizedworkat plans
3 Enhancdag Usex
Us Experence (ux)
satis faction Ensures ease t use
Eq: A fasd delitery
app impioves aheckaut X
trackla
4.Contnuous Improve ment - Custamer
product updates Reedhack AveS
Eq- A game apan nes
teviens campans bugsGn plage
5.Conapeikve Aduantage Meeting
stand out Custamer needs helps
Eg E icA
Pocus_on
makers
facus
(onscious huyers fast chargng
 Cuatomizing STdentiying Manlket
Features Caaps

Prsstuct develaprnert celies

on custamer needs by fatacaings

Enhanting User Caonpeiie. Canbinuous

bapenene Advontage Tnaprove ment

Q5)Wte short note

Patent
A patent ie a legal night qranked ta an inventor
qiuing them xcusive cantrol
Cantralgver theirnvenion tor
apeche peiod (lusually 20 yrs Tt prevents atbers
om making using seling the inention oit hout
permission

Iypes op fatent

OHRhy akentS Reatec tunctHanal iinsentiang like

mochine prnLesses ar otsare

2.Destan Patents Boteck the unigue appearan

destgn oP product
 3. Plant Patents Protect plant varetieg
develaped thrauch reproductton
Example: A company inuenhag a w type af
ot sixeless
charaing technalogu Can patent it to stop
compehtor a Copyionq it

Copyright is alega pratecheon quen to

oiqina cnrks, Such as hosk s music lms soFtuare &
arteoork
qrants exclusive mabts to seproduce, cistibute
display the aork, tyisally lating the creator's
Iehone plus So-70 yeas, (depending orhe Count
Eaample A musiciancomposing a ang automaieally
holds Copyghtpreuenbng others
ithout permissian

iTrademork
A
A trademark isa lega proteciontar brand names
logns, symbals, slagans r any cnique identier
4hat disinauishes a businesss
rom compektars Tt help huildpoducts qr SeYVices
brand eca gnihon
Xprevents unauthorzed use
Example Nikek Tust Do Tt" slog gn.
are trademar ked, prevening ather Companies slagan
iag thenm
usiog
Gs) plaio in
io detail tacdors afleching emergiog
entrepreneurship.

Envitonmental FaiiticalL
Fersanalty Factars tactofs
Fatars

Factos afechinq
Entrepreneurship

Esonomk
Soio- Economis
tactors

. Persanality Pactors
aality conidenceX ianvahon ifiuene
R'sktaking
entreprenuna Success
Strong leadership,pnsblem-saluing skills
persistence
ore key taits

2.Enuionmenta Pactors.
Auoilabiiby o itastructure ike transpitation
Cammunlcahan technaleau Aeeess to aus materras
Skilled, labar, market opparhunih'es
 3. Rlitical Cacturs
Goveroment palicies, requlakonaease oP oing
lbusiness affeat entrepreneurship.
Bliial stabilityencauraaes inveshment a qrouth
4. SoclaEsanamie actars
Educahon Jevel skill developnent
mindse intluene entepreneuship

5.Esnamie factors'
Avoila.ility capital R finaneial inahkuhan tor
Aanding
Toterest rates intaian & econami stabiliy affeck
prakalbiliky
Q) Epbig Racduct Planning
DRoduct planmiag is the þroes ot strotesizing
Lmanaging a produt tums ideastoage
to its market intraduction beyond
) T! ioslues analszing ustomer needesig
develaping l cantinuously mproving the produet
toensure tsSuccess nthe market

)The pcoduck planidenki kes the portPealla the

products to be develapeday he arganizaian
the tiakng_af theis introducian to the market
 u) The planniag proces s. cnsidersproductdevelopment
appsrtunitiea identie d by many Sources including
Suggestians hg na markehng research customers,
xrent product davelapnent teams 2 benchsmarking
Campeiors.

8) Eplain. detail 6 akages io Rroduet Development

RoceSS.

Planning-> Contept System-level Dekail Teshiog Faduchan

develapent desian Desian ReRnement Ranp-lp
Stoae l: planning'
The planning achuihy iss aken reP&ered to
"ohose " becatuse it orecedes the preject
appraval launch o the actual prduct develapment
Slage2 oncept developrnent
Tn the cancept development
GP the phase, the needs
target market are ldenihed alternahve
product Cncepts are aenersted && evaluated
Stoge 3 System-level desig n
The Sy
stem-level desian
oP the phase includes the
produc
product
archikechuce
decamposiHarn
Intosubsustems , camponents deinition
a the

CAL

WITH E X P E R I E N T I A E
Stage 4 Detalldestan
The deba) desian phaseincludes the camplete
Spechcah'an o the aeonmetry materials 2
talerances a all the uniq ue paIts in the
product

Stage 5 Testing Rebnement The teshihg rebóement

phase nvalves the constructian & evaluahan of
Mulhple Prepraduchon wersiong o tbe pradue
stage S Praduch'an RampUp
Tn the produchin rampup phase, the produet
s made intended
using the prcduchon system