CMAT Innovation and Entrepreneurship Section

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Updated on
February 3, 2024

CMAT Innovation and Entrepreneurship Section: Pattern, Syllabus, Type of Questions, How to Prepare

 

CMAT 2024 exam question paper pattern is changed by NTA. Instead of four compulsory sections CMAT 2024 question paper has five mandatory sections with Innovation and Entrepreneurship as the new compulsory section. With 20 questions is the new compulsory section Innovation and Entrepreneurship in CMAT 2024, this section is equally important in calculation of your CMAT score and percentile. Earlier this section was optional and many candidates avoided this section but no such choice is available for CMAT 2024 and all the candidates who appear in CMAT 2024 must attempt the  Innovation and Entrepreneurship Questions otherwise they will not be able to qualify the exam.

 

In this article below, we will discuss What is CMAT Innovation and Entrepreneurship, CMAT Innovation and Entrepreneurship Syllabus, type of questions, how to prepare for CMAT Innovation and Entrepreneurship 2024, best preparation books and study material, among other details. But before checking out all about the new section in CMAT Innovation and Entrepreneurship 2024, let’s know the CMAT 2024 sectional composition, number of questions in each section and scoring scheme:  

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The five Sections in CMAT 2024 paper pattern with number of questions and maximum scoring chances are as under:

CMAT 2024 Exam Sections Number of Questions Maximum Marks Section-wise
Language Comprehension    20 80
Quantitative Techniques and Data Interpretation  20 80
Logical Reasoning  20 80
General Awareness  20 80
Innovation & Entrepreneurship  20 80
Total Sections-5 100 400

Table of Contents

  1. What is Innovation and Entrepreneurship Section in CMAT 2024?
  2. CMAT Innovation and Entrepreneurship Syllabus
  3. Innovation and Entrepreneurship Questions for CMAT 
  4. How to prepare for CMAT Innovation and Entrepreneurship 2024?

1. What is Innovation and Entrepreneurship Section in CMAT 2024?

  • Innovation and Entrepreneurship is recently included 5th Section in CMAT exam
  • This section was included as optional section in CMAT 2021 with 25 questions and additional time limit of 30 minutes
  • Since 2022 it has been made the compulsory section
  • NTA CMAT Innovation and Entrepreneurship section 2024 consists of questions on Business & Economy, Latest Who’s Who, Comprehension passages among other topics
  • It is mandatory to attempt the Innovation and Entrepreneurship Questions for CMAT 2024 to qualify the exam
  • Total number of questions in CMAT 2024 are 100 with each of the 5 sections having 20 questions of MCQ type 

Total CMAT exam 2024 time duration including the 5th section is reduced to 3 hours as compared to 3½ hours earlier

 

cmat previous question paper

2. CMAT Innovation and Entrepreneurship Syllabus: Overview

  • CMAT Syllabus is divided into five sections – Language Comprehension; Quantitative Techniques and Data Interpretation; Logical Reasoning; General Awareness and Innovation & Entrepreneurship
  • Each of the five sections including CMAT Innovation and Entrepreneurship has equal weightage of 20% with 20 questions

2.1 CMAT Syllabus on Innovation and Entrepreneurship
The recently included new section in CMAT exam on Innovation and Entrepreneurship with 20 questions, covers comprehensive test on your knowledge regarding Innovative business practices, Government plans and policies, global entrepreneurs and personalities among others.  

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2.2 Key topics in CMAT Syllabus on Innovation & Entrepreneurship are

  • Government Publications, Policies and Practices on Innovation and Entrepreneurship for example who publishes Economic Survey of India; Publication of Gazettes; Process to Sell off the Assets of Bankrupt firm
  • Launch of New Business Ventures with New Ideas like –Who launched the first live Payments Bank in India; Who launched Paytm, Ru Pay, UPI App based Tez, Bhim, etc.
  • Terminology-like Boot strapping, Auctioner, Liquidator, Mixed Economy, Tenacity, Neuroticism, Evironmental Scanning, Innovation Management, Start Ups, Overtrading, Difference among Proprietor, Partnership, Private Ltd firms and companies; Marketable Product, Patent, Trade Mark, Break Even Point
  • Latest Who’s Who, Places, Books in News: For example – Which City in India is ranked as one of the five fastest growing start up cities in the world;  Title of Biography of JRD Tata; Which country is ranked no.1 in ease of doing business in last 5 years
  • Process and Stages to Start Entrepreneurship Venture: You are supposed to know basics about the process like business viability; developing business plan; Key areas that help to understand feasibility of business
  • Comprehension Passage followed by Bunch of Questions: This key part of syllabus in this section is the Comprehension passage with 600-700 words, on any business or economy topic especially on entrepreneurship, innovation business plan or others. There is one passage which is followed by 10-12 questions on phrases used in passage, Statement & Arguments, true false, inferences from the passage, fill in the blanks among other type of questions

2.3 Syllabus Topics as Shared by IMS Learning
Prasad Sawant, faculty at IMS Coaching appeared in CMAT exam which also had the 5th section on Innovation and Entrepreneurship. According to him “There are broadly three areas that are tested in this section”:

  1. Reading Comprehension: The topic of the passage was ethnic minorities and financial institutions. So, one can expect to have a passage related to business/management/innovation/entrepreneurship, etc.
  2. Business GK/Current affairs: These involved direct questions related to business GK (organizations, founders, etc.) and current affairs (esp. focusing on Indian business).
  3. Management/Innovation/Entrepreneurship questions: These are direct questions related to management concepts/fundamentals.

Check and Read Complete and Section Wise CMAT Syllabus

 

3. Innovation and Entrepreneurship Questions for CMAT 
CMAT Innovation and Entrepreneurship Questions are based on all above topics but are not very difficult. All the questions are of MCQ type. The pattern of CMAT Previous Question Paper for Innovation and Entrepreneurship reflects that questions are not difficult. Below are shared some of the questions that were asked last year:

 

Q.1 Someone legally appointed to sell off the assets of a bankrupt is called

  1. An Auctioneer
  2. A liquidator
  3. A Terminator
  4. An advocate

Q.2 The term bootstrapping is often associated with

  1. Start-Ups
  2. Venture Capital Funds
  3. Financial institutions
  4. Non-Financial Institutions

Q. 3 Ru pay has been launched by

  1. National Securities Depository Limited
  2. National Payments Corporation of India
  3. Central Depository Services Limited
  4. Reserve Bank of India

Q.5 Mixed Economy refers to

  1. Coexistence of small and large industries
  2. Coexistence of agriculture and industry
  3. Coexistence of public and private sector
  4. Coexistence of domestic and foreign enterprises

Q.6 The idea and actions that explain how an entrepreneur will make his/her venture profitable and impactful is commonly referred to as

  1. Mission
  2. Goal
  3. Strategy
  4. Objective

Apart from the individual multiple choice questions, there is a comprehension passage of moderate difficulty in this section, on business, innovation in business, entrepreneurship followed 7-8 questions of MCQ type. It is like an RC Passage as you attempt in Language Comprehension section. Mr Prasad Sawant of IMS Coaching found the RC to be the area where one could have maximized the score. Attempt CMAT Mock Tests and Previous Question Papers

 

4. How to prepare for CMAT Innovation and Entrepreneurship?
The newly added 5th section on Innovation & Entrepreneurship is a comprehensive test on your knowledge regarding Innovative business practices, Government plans and policies, global entrepreneurs, personalities among others.  The areas on which questions are framed and that you need to prepare for CMAT Innovation and Entrepreneurship 2023 are:

  • Concepts of innovation and business
  • Innovation of the life cycle
  • Entrepreneurship and its Development
  • Start ups, Make in India, How to start a venture
  • Government policy and guidelines on Entrepreneurship

4.1 CMAT Preparation Books & Study Material for Innovation and Entrepreneurship
Some of the updated and comprehensive best books on CMAT Innovation and Entrepreneurship section as per the CMAT syllabus, study material, practice papers and questions are:

  • National Policy on Skill Development and Entrepreneurship 2015- Published by Govt of India
  • Document on Atal Incubation Centre (AIC)
  • MSME Market Development Program by Govt of India
  • Woman Entrepreneurship Platform by Government of India 
  • Venture Capital Scheme by Govt of India
  • End to End Energy Efficiency Scheme of Govt of India
  • Standup India program 2016 by Govt of India
  • Innovation and Entrepreneurship by Peter F. Drucker
  • Entrepreneurship & Innovation Management by R. Gopal

4.2 Tips from IMS on how to prepare for CMAT Innovation and Entrepreneurship 2024?

In view of Prasad Sawant of IMS Learning, the questions related to comprehension passage are easier than on other topics. The management or innovation and entrepreneurship awareness are the trickiest to prepare for, especially for the students who have not studied it in any form during their graduation curriculum. Students who are from Commerce/BBA/BMS/BAF or allied backgrounds might have a slight advantage. He shares below the key tips on how to prepare for Innovation and Entrepreneurship section for CMAT 2024

  • As the questions don’t need a lot of critical thinking, devoting around 20-25 minutes for this section in the first round should be sufficient. If time permits, you can always revisit the section in the second round.
  • Avoid taking unnecessary risks if your overall attempts are on the lower side, but if your attempts are very high, it won’t hurt to take a few chances.
  • Your regular verbal and RC preparation should be sufficient and no extra preparation is required. This is because students are already prepared for the verbal section and also because it is a level playing field and everyone starts with the same information.
  • For the business GK and current affairs, you can use the GK zone and compendium available in my IMS dashboard.
  • For the management specific questions, IMS has a 5-parts compilation of notes (part 1, part 2, part 3, part 4, part 5) which collectively have 125 important pointers that you can refer
  • A good free source ‘MIT Open Courseware’ as below is available to prepare for Innovation and Entrepreneurship section. You can search for a particular topic and get concise notes from the site of MIT. Skimming through these would be sufficient and you need not spend too much time on studying extremely technical concepts.

Source: IMS Learning

 

For example, Massachusetts Institute of Technology report on  “Entrepreneurship and Innovation at MIT” examines the impact of MIT graduates who have founded and built for-profit companies. The report estimates that, as of 2014, living MIT alumni have launched more than 30,000 active companies, creating some 4.6 million jobs and generating $1.9 trillion in annual revenue. The cumulative result is the equivalent of the 10th largest economy in the world. The high-impact companies span a wide range of industries including A123 Systems, Akamai, iRobot, InVivo Therapeutics and Dropbox. The courses below represent a selection of the entrepreneurship-related courses. When arranged by topic these courses include topics on Finance, Law, Leadership, Marketing and Planning, Operations, Strategy and would be a good help in preparation for CMAT inniovation and entrepreneurship section

 

Hope the above information is useful in understanding all about the NTA CMAT Innovation and Entrepreneurship section and its preparation plan. MBAUniverse.com is updating this page on regular basis to add most updated information from AICTE, NTA in regard to various aspects of this new section in CMAT. So, book mark this page to get maximum out of the guidance and tips on CMAT Innovation and Entrepreneurship section  

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