Technology, tradition, transformation: test your business creativity with Edition 110 of our quiz!
This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 110th quiz. Ready?
Lateral Sparks, the weekly quiz from YourStory, tests your domain knowledge, business acumen, and lateral thinking skills (see the previous edition here). In this 110th edition of the quiz, we present issues tackled by real-life entrepreneurs in their startup journeys.
What would you do if you were in their shoes? At the end of the quiz, you will find out what the entrepreneurs and innovators themselves actually did. Would you do things differently?
Q1: Tradition and transformation
Many traditional handicrafts and artisanal products are in danger of extinction. They suffer from inadequate market access due to the sector’s unorganised structure, and have to cope with customers’ unreasonable bargaining. What’s an effective way out of this, and where is the entrepreneurial opportunity?
Q2: Drones in agriculture
Drones can combine aerial and AI capabilities to transform practices in sectors like agriculture. Impacts include early identification of pest infestations and application of fertiliser only in needed areas. What are other benefits that drones can deliver?
Q3: App development
From ecommerce giants to local eateries, mobile apps have become a valuable tool for reaching out to and engaging with customers. However, not everyone has the tech and design skills to create such apps, or can afford to hire developers. What’s an effective solution here?
Q4: AI in healthcare
AI chatbots and virtual assistants are already delivering improvements to the healthcare sector. They can provide personalised care to patients, and are available 24/7. What are other advantages that AI can deliver in healthcare?
Q5: Supply chain efficiency
Retailers and manufacturers need to improve their supply chain efficiencies to increase profitability and customer satisfaction. This helps minimise downtime, expedite delivery, and add value to the business. How can such efficiency be brought in?
Congratulations on having come this far! But there’s more to come – answers to these five questions (below), as well as links to articles with more details on the entrepreneurs’ solutions. Happy reading, happy learning – and happy creating!
A1: Tradition and transformation
The Looms of Ladakh cooperative showcases the pashmina weaving skills and products of 450 women from 16 villages in Ladakh. Co-founder and director Abhilasha Bahuguna launched this collective to offer artisan-led luxury branded products.
The cluster offers systematic skills transfer in knitting and weaving. Read more here about the cooperative’s inspiring journey in scaling up R&D, using solar-heated studios, setting up stores in five-star hotels, and positioning in international markets.
A2: Drones in agriculture
Drones can provide advanced decision-support systems and targeted intervention in agriculture. They can also help reduce wastage of critical resources like water, according to Amandeep Panwar, Co-founder and CEO of BharatRohan.
“It is not just a financial boon but a leap towards sustainable agriculture that mitigates environmental impact,” he adds. Read more here about how drones generate extensive datasets that offer an in-depth look into crop health, growth patterns, and other variables.
A3: App development
Founded by Vikas Nangia, AppMySite eases and speeds up the process of mobile app development with a no-code platform. This reduces some of the high costs and lengthy development timelines associated with traditional app development methods.
“From helping customers build apps for their websites, we’ve now launched products that allow users to build apps without needing a website to begin with,” Nangia explains. Read more here about its white-label products that allow digital agencies and enterprises to showcase the apps as their own portals.
A4: AI in healthcare
AI chatbots and assistants can analyse patterns and underlying causes of medical complications to help doctors make better decisions in treatment. They can also automate certain tasks to smoothen workflows and boost efficiency.
AI can share data-driven insights based on patient's information, and build collective intelligence across healthcare organisations. Read more here about the importance of data privacy, accountability, and explainability for AI in healthcare.
A5: Supply chain efficiency
“By automating routine tasks and reducing manual procedures such as booking, document management, and shipment tracking, businesses can achieve streamlined processes,” explains Rahul Pillai, Founder and CEO of Hybrid Shifting Solutions India. Freight consolidation merges smaller shipments into larger ones to reduce costs.
“Prompt resolution of issues necessitates expedited information flow between departments regarding warehouse backlog or any delay in the supply delivery fleet,” he adds. Read more here about how supply chain technologies can enhance service quality.
YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).