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Entrepreneurial ideas emerge from observing problems, leveraging personal skills, and adapting to a constantly changing environment. This lecture explores how ideas originate and why they remain limitless in a dynamic world. Sources of Entrepreneurial Ideas 1...

Entrepreneurship is not confined to a specific personality type, age, or background. Through diverse stories, this lecture highlights how entrepreneurs vary widely in their journeys, industries, and approaches, emphasising that anyone can embark on this path. ...

Entrepreneurship involves creating future goods/services through opportunity discovery, evaluation, and exploitation. It is not limited to a linear process or innate traits—anyone can learn and adapt to its dynamic nature. Core Concepts 1. Entrepreneurship D...

Effectuation is a decision-making framework used by entrepreneurs to navigate uncertainty. Unlike traditional causal logic (goal-first planning), effectuation starts with available resources and adapts through experimentation, partnerships, and leveraging surp...

Expert Insights This section profiles three entrepreneurs—Achintya Krishna, Mayank Nagori, and Payoshni Saraf—highlighting how they applied effectual principles, leveraged resources, and set clear success metrics to build and scale their ventures. Achintya Kr...

IDEA EVALUATION Core Purpose: Assess initial concepts for viability, appeal, and problem-solving potential. Key Components Origins of Ideas Rooted in personal experiences/pain points (e.g., hydration tracking, fitness access). "Solve your own problem first,...

Core Framework: The 2×2 Grid Evaluates ideas based on Potential (economic/social impact) vs. Challenge (implementation difficulty). Quadrant Characteristics Recommendation Gold Mine High Potential, Low Challenge Pursue immediately (e.g., scalable SaaS)...

Expert Insights Achintya Krishna on Opportunity Evaluation Began with sports video drills for grassroots athletes—discovered a gap in structured digital coaching. Added tournament registration to solve a real need but found it low-margin and logistically com...

Question 1: What is the Market Opportunity Navigator and how does it help in decision-making? Answer: The Market Opportunity Navigator is a strategic framework that helps entrepreneurs evaluate and prioritize business ideas based on two main criteria: market p...

Defining the Lifecycle Approach The Lifecycle Approach is a holistic method of evaluating the total environmental impact of a product or service across all stages of its existence, from raw material extraction to final disposal or recycling. What it Measures I...

Externalities are the unpriced, unintended costs or benefits of an economic activity that affect a third party. They represent a form of market failure because the price of a good or service does not reflect its full social impact, leading to an inefficient al...

Classification of Economic Goods Goods are categorized based on two key properties: Rivalry and Excludability. Rivalry: A good is rivalrous if one person's consumption reduces its availability for others (e.g., eating an apple prevents others from eating it)...

1. Kashmir Floods (2014): A Case of Urban Flooding Causes: Extreme Rainfall Event: Received 156.7 mm of rainfall on September 5 (compared to an average monthly rainfall of 56.4 mm). One-week rainfall was over 500 mm, a 10-year high. Failure of Drainage I...

Drivers of the Tragedy of the Commons Definition: The drivers are the underlying conditions and incentives that lead individuals to overuse shared finite resources, resulting in their depletion or degradation. Key Drivers and Mechanisms Driver Description ...

1. Game Theory and Sustainability Definition: A tool used in economics and behavioral sciences to study strategic decision-making among individuals or groups. Relevance to Sustainability: Helps explain why people overuse shared resources (commons) even when it...

1. Is the Tragedy of the Commons Inevitable? Garrett Hardin's View: Garrett Hardin, in his influential 1968 paper, argued that the tragedy is inevitable because individuals, acting in their own self-interest, will inevitably deplete a shared resource. He propo...

1. Elinor Ostrom’s Core Contributions Elinor Ostrom was the first woman and first political scientist to win the Nobel Prize in Economics (2009). Her central question was: How can communities manage shared resources sustainably without state coercion or privat...

1. Foundational Period (Pre-1970s) Indian Forest Act (1927): Consolidated laws on forests, transit of forest produce, and timber duties. Insecticides Act (1968): Regulated the import, manufacture, and use of insecticides to protect humans and animals. 2. ...

1. The Need for Sustainable Food Systems A sustainable food system ensures food security without compromising social, ecological, economic, or cultural foundations. It addresses: Environmental Impact: Reducing degradation caused by conventional agriculture. ...

Pathways to Sustainable Food Systems 1. Reverse Unsustainable Practices Policy Interventions: Incentivize organic inputs & diverse cropping Reduce subsidies for chemical fertilizers/pesticides Examples: Amul’s organic fertilizers; 2023 "Year of Millets" prom...