CMAT Innovation and Entrepreneurship: How to Prepare, Syllabus, and QuestionsAnisha Mukhija
The Common Management Admission Test (CMAT) is a national-level exam held each year for students seeking admission to MBA/PG programs. This test is performed once a year by the National Testing Agency. The CMAT test pattern has changed this year. Last year, NTA added an optional subject called CMAT Innovation and Entrepreneurship, which consisted of 25 questions worth 4 points each. However, according to the NTA notice, CMAT will include 20 questions of 4 marks each in the Innovation and Entrepreneurship segment this year. Students taking this test must be familiar with the CMAT Syllabus and Exam Pattern in order to do well.
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CMAT Exam Pattern
CMAT will consist of the following sections:
|Quantitative Techniques and Data Interpretation||20||80|
|Innovation & Entrepreneurship||20||80|
What is Innovation & Entrepreneurship?
The first thing that springs to mind when you come across this section is what innovation means. Simply put, it indicates that you came up with a unique concept or solution by using your imagination. Business management is concerned with the principles of innovative management terminology in this context. You identify your creativity and explain how to stimulate it. It highlights the significance of an innovation strategy in our daily lives. It defines a product portfolio, outlines how innovation initiatives should be chosen and managed, and emphasizes the relevance of teams, team structures, and networks in the innovation process.
Reason for Including This Section in CMAT
The main purpose for including this component in CMAT 2021 was to attract students who want to be entrepreneurs after finishing their post-graduate studies. Few colleges, such as Mumbai’s Sydenham Institute of Management Studies and Research and Entrepreneurship Education and Pune’s International School of Business & Media, provide degrees that address the fundamentals of entrepreneurship and its development. Their main goal is to teach practical business information so that interested applicants can have a bright business mind. Candidates who want to be business owners in the future should definitely take this portion.
CMAT 2022 Innovation and Entrepreneurship Scope and Syllabus
Innovation and Entrepreneurship Syllabus
Terminology of Innovation Management Concepts
Individual adoption of innovation over the life cycle
Creativity and the stimulation of it
There are three kinds of concept management systems.
Project management for innovation
- Entrepreneurship Development Concepts
- Entrepreneurial Concept Evolution
- Successful Entrepreneur Attributes and Characteristics
- Entrepreneur vs. Intrapreneur, Manager vs. Entrepreneur, and Entrepreneurship vs. Entrepreneurship
- The Entrepreneur’s Role in the Indian Economy and Other Developing Economies
- Culture of Entrepreneurship
Developing an Entrepreneurial Venture
- The Business Planning Procedure
- Searching and Scanning for Environmental Data
- Problems and possibilities must be identified.
- Defining a Business Concept
- Basic Government Procedures that must be followed
- Feasibility in terms of technology, finance, marketing, personnel, and management
- Estimating and Financing Funds Requirements – Schemes provided by commercial banks and financial institutions such as IDBI, ICICI, SIDBI, and SFCs
- Venture Capital Finance
Government and Entrepreneurship Development
- The Role of Central and State Governments in Promoting Entrepreneurship
- Other Agencies’ Role in Entrepreneurship Development
Few Examples of Innovation and Entrepreneurship Questions
- A startup is defined as an entity that is headquartered in India, was opened less than 10 years ago, and has an annual turnover of less than-
(1) Rs. 10 crore
(2) Rs. 100 crore
(3) Rs. 50 crore
(4) Rs. 1 crore
- What type of financing do “Angel investors” usually provide?
(3) Stock sales
(4) None of the above
- Who has launched the UPI-based payments app in the country by the name of TEZ?
- A business where an individual is both the owner and conductor of the business affairs is called:
(1) Proprietorship Firms
(2) Partnership Firms
(3) Private Limited Company
(4) None of the above
- Which of the following is not one of the traits of an entrepreneur?
(1) Opportunity Exploration
(3) External locus of control
(4) Risk Taking
The section will also have passage-based questions.
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