Elevate your business expertise with the latest instalment of the YourStory weekly quiz! This segment is crafted to test and refine your business acumen, presenting 5 thought-provoking questions to kickstart the challenge. Are you prepared to put your skills to the test?
Lateral Sparks, our esteemed weekly quiz, serves as a platform that not only assesses your industry knowledge and lateral thinking abilities, but also presents genuine challenges encountered by entrepreneurs in their startup journeys. It offers an excellent opportunity to step into their shoes and consider how you would navigate similar situations. Following the quiz, you can compare your solutions to the actual strategies adopted by these entrepreneurs.
Apart from the quiz, remember to explore YourStory’s Book Review section, which provides key insights from a diverse range of books on creativity and entrepreneurship. Furthermore, our PhotoSparks segment captures artistic creativity, ensuring a visually captivating experience.
Without further ado, let’s delve into the quiz questions!
Question 1: The ecommerce experience
Conventional retailers transitioning into the ecommerce sphere often encounter issues such as customer drop-offs, payment errors, and checkout complications. The pivotal question is, how can these challenges be addressed to benefit both customers and retailers?
Question 2: Networking for success
In today’s business landscape, achieving success involves more than just knowledge, but also connections. However, effective networking extends beyond simply being connected to individuals or gaining social influence. How can significant and impactful networks be cultivated?
Question 3: Product launches
Artificial Intelligence (AI) has transformed the landscape of product launches, offering a more efficient and targeted approach. Besides this, in what other ways can AI contribute to the success of product launches?
Question 4: Education for tribal children
Children in remote villages often lack access to quality education and encounter difficulties in finding relevant job opportunities. Furthermore, they have limited exposure to technology and emerging prospects. How can these pressing issues be addressed?
Question 5: Content creators
Content creation presents an exciting and lucrative opportunity, but also comes with its own set of challenges, including financial sustainability, customer loyalty, and finding suitable partners. What are some effective strategies that content creators can employ?
And now, for the answers!
Question 1: The ecommerce experience
Fabindia has benefited from Razorpay’s Optimizer, an AI-powered tool that offers real-time insights and guidance. By leveraging this tool, the company has witnessed a significant increase in transaction success rates, resulting in satisfied customers and a boost in revenue.
Question 2: Networking for success
Rinku Kaul, Lead – Human Resources, Advanced Technology Centers in India, Accenture, emphasized the significance of building strong relationships and gradually expanding one’s network. She emphasized that establishing trusted connections is essential for unlocking missed opportunities.
Question 3: Product launches
According to Sriram PH, CEO & Co-founder of DaveAI, AI-generated content enhances marketing efforts, streamlines pricing and sales, and enhances customer interaction. Additionally, generative design tools play a crucial role in creating engaging visual content.
Question 4: Education for tribal children
The Riverside Natural School, founded by Priya Nadkarni and Digvijay Singh, is devoted to providing holistic education and career opportunities to tribal children. Through activities such as football, farming, and technology training, the school aims to foster comprehensive development.
Question 5: Content creators
During YourStory’s TechSparks Mumbai conference, content creators RJ Princy Parikh, Anshuman Sharma, Ayush Shukla, and Rohit Shroff shared valuable insights. Their advice included the importance of experimentation, relatability, and identifying unique monetization opportunities.
In addition to these insights, YourStory has also released a pocketbook titled ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ – a valuable resource for aspiring innovators.
It’s time to put your creativity and innovation to the test with Edition 129 of the YourStory quiz. Enjoy the challenge, embrace the learning experience, and here’s to discovering new possibilities!