This weekly quiz of Your story tests your domain knowledge, business acumen and lateral thinking skills (see last week’s quiz here). In this sixteenth edition of the quiz, we present five issues addressed by real-life entrepreneurs in their startup journey.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs themselves have actually done. Would you do things differently?
Discover YourStory Book review also, with takeaways from over 320 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.
Q1: Growth and capital
Times of furious business growth require a lot of financial outlay in marketing and recruiting. But another type of capital is also essential to ensure better performance and better productivity of the company. What is this other form of capital?
Q2: The climate opportunity
Industry and government play a key role in meeting the challenges of climate change. Civil society too. Which actor has the greatest stake in the climate future, and how can they be better involved?
Q3: Not just to “get high”
This “drug” isn’t just about getting high, but it has other positive benefits when used appropriately. It is even used to help patients around the world who are battling cancer, bipolar disorder, mental disorders, skin problems, and menstrual cramps. How is it possible?
Q4: Toys and design
According to the research platform IMARC Group, the Indian toy market was valued at $ 1.23 billion in 2020, with strong room for growth. Advocates lobbied not only for attractive design, but also for cognitive and even cultural characteristics in toys. What is the other key characteristic of toys?
Q5: Beyond “refuse and reduce”
âDeny and reduceâ is a mantra promoted by the green movement to avoid single-use plastics and reduce excessive consumption. But there are other elements of the circular economy which also have a positive socio-economic impact. How do organizations exploit these other elements?
Congratulations on coming this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on entrepreneurs’ solutions. Happy reading, happy learning – and happy creating!
A1: Growth and capital
“For a business to stay the course and solve real-world problems at scale with long-term impact, knowledge capital must take precedence over speed to market,” argues Praval Singh, Vice President of Marketing and Customer Experience at Zoho.
âA good chunk of your funds and income should be spent on continually diversifying, broadening and deepening your expertise in the field,â he adds. Founders and leaders should also focus on cultural capital and nurture valuable know-how. Learn more about knowledge management here.
A2: The climate opportunity
The preparation of CoP26 (the 2021 United Nations climate change conference) also included a specific component dedicated to youth leadership in the fight against climate change, called Youth4Climate. âThe intersection of youth leadership and cross-sector solutions offers many opportunities to involve young people in achieving the goals of COP26,â explains Archana Sinha, co-founder and CEO of the Nourishing Schools Foundation.
There are crucial leadership opportunities for young people in creating educational content on climate change and promoting climate resilient farming systems. For example, some children have also started allotment gardens to apply their learning. Learn more about these vital initiatives here.
A3: Not just to “get high”
Many countries still consider cannabis as a drug or as an illegal means of medical treatment. Fortunately, regulators allow its access to patients in need under medical supervision, in addition to its use at cultural festivals in the form of bhaang.
âPeople now study medical cannabis with an open mindset and an understanding of what it has to offer from a therapeutic standpoint,â explains Yash Kotak, Marketing Director of Bombay Hemp Company. Learn more about the uses and impacts of cannabis here.
A4: Toys and design
Shreya Mittal, founder of Delhi-based Curious Cub, stresses that toys must also be safe and environmentally friendly. Children tend to explore toys with all of their senses, including their mouths.
Curious Club is a preschool education platform that imparts age-appropriate cognitive skills through playtime. âHaving a completely safe toy ensures that a child can play without reservation. From where, wooden and fabric toys are the best options to give at this tender age because they contain no chemicals, âshe says. Read more about Curieux Club here.
A5: Beyond “refuse and reduce”
âRecycle and donateâ are important elements of a circular and generous economy. For example, siblings Yash Gupta and Akansha Gupta launched in Indore Daanpatra as an online platform that collects donations of all kinds and delivers them to needy communities.
Clothing, toys, books, shoes, utensils, electronics and furniture have been donated to more than 11.5 lakh of needy families. âThere is nothing unnecessary. We need to know how the waste can be used, âYash describes. Learn more about how recycling improves lives here.
YourStory also published the paperback “Proverbs and quotes for entrepreneurs: a world of inspiration for startups” as a creative and motivating guide for innovators (downloadable as apps here: Apple, Android).