Strategy, communication, scale: test your business creativity with Edition 156 of our weekly quiz!
This insightful feature from YourStory tests and strengthens your business acumen! Here are 5 questions to kick off this 156th 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 156th 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?
Check out YourStory’s Book Review section as well, with takeaways from over 355 titles on creativity and entrepreneurship, and our weekend PhotoSparks section on creativity in the arts.
Q1: Healthy food
Many people are becoming conscious about their eating choices in the face of growing rates of high cholesterol and blood pressure. The pandemic spurred the movement towards healthy food as well. How can this opportunity be tapped?
Q2: Brand scale
Disorganised markets are ripe for disruption by digital platforms and D2C brands, especially to bring in standardisation and quality. But what new approaches can ensure brands succeed at scale as well, and not just at launch?
Q3: Business strategy
Keeping customers satisfied at all times is key for business success. But sometimes product improvements call for a break in normal routines. How can this be effectively managed for long-term success?
Q4: Festive season logistics
The festival season leads to huge pressures for ecommerce and logistics firms. AI-powered tools can help sellers optimise resources. What other digital tools can bring business impact here?
Q5: Environmental communication
In the face of climate change and pollution, it is imperative to increase awareness about the environment and spur people to corrective action. Animation can be used here as a communication vehicle. What else lends itself to effective messaging here?
Answers!
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: Healthy food
Divya Arora Musaddi launch snack brand Heka Bites in 2021 to offer snacks high in nutrition and free from preservatives. They are made from jowar, makhana, quinoa, and chickpea.
It offers 20 SKUs that includes snacks, trail mixes, and nut mixes. There are also raw and unprocessed seeds and nuts like pumpkin seeds, chia seeds, and makhana. Read more here about the price range of its products, pan-India plans, and cultural preservation of food.
A2: Brand scale
A brand that has grown from Rs 100 crore to Rs 500 crore can no longer remain just an online-only brand, according to Ananth Narayanan, CEO, Mensa Brands. “You need to make stores. You need to make offline work,” he says.
This transition calls for a completely different skill set, due to the unique challenges of offline expansion. See more of his insights from the TechSparks 2024 conference here, and the company’s plan to take its party supplies business global.
A3: Business strategy
Leadership’s consumer obsession is key for business growth, according to Swiggy Co-founder Phani Kishan. This can even lead to tough calls which involve stoppage of service during upgrades.
Swiggy was earlier using a telephonic system to provide consumer updates, and made a bold decision to temporarily halt operations for a couple of days to launch its app instead. Read more here about how the IPO-bound unicorn spent 48 hours educating its partners before restarting operations.
A4: Festive season logistics
“Chatbots and virtual assistants are now commonplace, simulating human interactions and providing 24/7 support,” explains Ravi Goel, Chief Business Officer at RapidShyp, an ecommerce shipping platform. Smart contracts can automate transactions and reduce manual interventions.
“Courier recommendation tools powered by AI are instrumental in selecting the best courier partners for specific zones, ensuring optimal delivery performance and enhancing overall efficiency in logistics operations,” he adds. Read more here about how API integration has become the backbone of modern logistics.
A5: Environmental communication
Illustrator Rohan Chakravarty created Green Humour as a series of cartoons and comics focused on wildlife, nature conservation, and sustainability. Humour can offer appeal while communicating about important issues like the environment.
“Humour and satire act like a slap on one cheek and a kiss on the other, as it highlights the seriousness of an issue and makes the topic more approachable,” he explains. Read more here about how he has leveraged cartoons for deeper engagement.
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).