Common Management Admission Test (CMAT) is a widely recognized exam that assesses an individual’s ability to manage and lead in the business world. This year, a new subject has been added to the exam – Innovative Entrepreneurship. This subject focuses on the latest trends and techniques in entrepreneurship, providing a comprehensive guide to mastering the art of business. Whether you are an aspiring entrepreneur or a seasoned business professional, this guide will equip you with the skills and knowledge needed to succeed in the competitive world of business. In this article, we will explore the CMAT new subject in Innovative Entrepreneurship and provide a complete guide on how to ace the exam and become a successful entrepreneur.
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The Innovative Entrepreneurship section of CMAT focuses on the latest trends and techniques in entrepreneurship. It covers topics such as innovation management, design thinking, business model innovation, social entrepreneurship, and startup funding. The section is designed to assess the candidate’s ability to identify and evaluate new business opportunities, develop innovative ideas, and create value for customers.
Syllabus and Exam Pattern of CMAT New Subject in Innovative Entrepreneurship
The syllabus for the Innovative Entrepreneurship section of CMAT includes the following topics:
- Innovation management
- Design thinking
- Business model innovation
- Social entrepreneurship
- Startup funding
- Intellectual property rights
- Entrepreneurial finance
- Venture capital
- Angel funding
- Crowdfunding
The exam pattern for the Innovative Entrepreneurship section of CMAT is as follows:
- Total number of questions: 25
- Total marks: 100
- Duration: 180 minutes
- Marking scheme: Each correct answer carries 4 marks, and each incorrect answer carries a negative mark of 1.
Preparation Tips to crack CMAT New Subject in Innovative Entrepreneurship
Preparing for the Innovative Entrepreneurship section of CMAT requires a strategic approach. Here are some tips to help you crack the exam:
- Understand the syllabus: The first step in preparing for any exam is to understand the syllabus. Go through the syllabus for the Innovative Entrepreneurship section of CMAT and make a list of topics that you need to focus on.
- Create a study plan: Once you have understood the syllabus, create a study plan that suits your schedule. Allocate time for each topic and make sure you stick to the plan.
- Practice mock tests: Practice mock tests to get familiar with the exam pattern and to evaluate your preparation level. Analyze your performance and identify areas that need improvement.
- Read business news: Stay updated with the latest business news and trends. This will help you understand the practical application of the concepts you learn.
- Solve previous year question papers: Solve previous year question papers to get an idea of the types of questions asked in the exam. This will also help you manage your time during the exam.
Best Books and Study Materials for CMAT New Subject in Innovative Entrepreneurship
Here are some recommended books and study materials for the Innovative Entrepreneurship section of CMAT:
- “Innovation and Entrepreneurship” by Peter F. Drucker
- “Design Thinking: Integrating Innovation, Customer Experience, and Brand Value” by Thomas Lockwood
- “Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers” by Alexander Osterwalder and Yves Pigneur
- “Social Entrepreneurship: What Everyone Needs to Know” by David Bornstein
- “Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist” by Brad Feld and Jason Mendelson
- Apart from these books, there are several online resources available, such as Coursera, Udemy, and edX, that offer courses on entrepreneurship and innovation.
Coaching and Online Resources for CMAT New Subject in Innovative Entrepreneurship
Coaching institutes and online resources can be helpful in preparing for the Innovative Entrepreneurship section of CMAT. Here are some popular coaching institutes and online resources:
- IMS Learning Resources
- T.I.M.E
- Career Launcher
- TestFunda
- TestPotter
- Apart from these coaching institutes, there are several online resources available, such as MockBank, TestSeries.io, and Testbook, that offer mock tests and study materials for CMAT.
Career Opportunities in Innovative Entrepreneurship
Innovative entrepreneurship opens up a world of career opportunities. Here are some career options in innovative entrepreneurship:
- Entrepreneur: Start your own business and become an entrepreneur.
- Innovation Manager: Work with companies to identify new business opportunities and develop innovative ideas.
- Business Development Manager: Develop and implement strategies to grow the business.
- Product Manager: Develop and manage new products and services.
- Venture Capitalist: Invest in startups and help them grow.
Future Scope of Innovative Entrepreneurship in India
India has a bright future in innovative entrepreneurship. The government has been taking several initiatives to promote entrepreneurship in the country. The Startup India program, launched by the government in 2016, aims to create a conducive environment for startups to grow and flourish. The program offers several benefits, such as tax exemptions, funding, and mentorship, to startups.
Apart from the government’s initiatives, several private players have also been investing in startups. The rise of technology and the internet has also created new opportunities for entrepreneurship in India. With the right skills and knowledge, aspiring entrepreneurs can make a significant contribution to the country’s economic growth.
Conclusion
Innovative entrepreneurship is the key to success in today’s fast-paced business world. The addition of the Innovative Entrepreneurship subject in CMAT is a step in the right direction, as it will equip aspiring entrepreneurs with the skills and knowledge needed to succeed in the competitive business world. By following the tips and strategies mentioned in this guide, you can crack the CMAT Innovative Entrepreneurship section and become a successful entrepreneur.