Assam ASSEB HS Entrepreneurship Development cheat sheet

Entrepreneur (French 'entreprendre' = to undertake): a person who combines land, labour, capital and enterprise to produce goods or services and bears the risk of the outcome.

Four factors of production: land, labour, capital, entrepreneurship; entrepreneurship is the organising factor that coordinates the other three.

Definitions: Schumpeter - innovator who carries out new combinations; Cantillon - bearer of risk; Drucker - one who searches for change and exploits it as opportunity.

Nature: economic activity, creative and innovative, dynamic, risk-bearing, organising, profit-oriented; it is a process, not a single act.

Significance: employment generation, capital formation, balanced regional development, raising per-capita income, export earnings, dispersal of economic power, social change.

Schumpeter's five innovations: new product, new method of production, new market, new source of raw material, new organisation of industry.

Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 classifies enterprises by investment in plant and machinery (manufacturing) or equipment (services); revised limits are notified periodically.

Intrapreneur: an employee inside an existing firm who innovates using the firm's resources; differs from entrepreneur in risk-bearing and ownership.

Competency = knowledge + skill + attitude applied to a task; it is observable behaviour, not a personality trait.

McClelland's entrepreneurial competencies: initiative, seeing and acting on opportunities, persistence, information seeking, concern for quality, commitment to work contract, efficiency orientation, systematic planning, problem solving, self-confidence, assertiveness, persuasion, use of influence strategies, monitoring.

Opportunity-seeking and initiative are the competencies most consistently associated with venture creation.

Kakinada (Andhra Pradesh) and Gujarat experiments: training in achievement motivation increased the number of new enterprises among participants.

Competency clusters: planning (systematic planning, problem solving), execution (persistence, efficiency), and people (persuasion, influence, monitoring).

Distinguish competency from motive: a motive is an inner drive; a competency is demonstrable behaviour that can be trained.

Self-efficacy (Bandura): belief in one's capability to execute a task; high self-efficacy raises persistence after failure.

Competency gap analysis: compare required competencies for a venture with the promoter's present competencies, then close gaps by training, hiring a partner, or outsourcing.

Motivation = internal drive that directs behaviour toward a goal; entrepreneurial motivation includes need for achievement (nAch), need for power, need for affiliation, independence, and desire for wealth.

McClelland: high nAch is linked to moderate risk-taking, personal responsibility for outcomes, and feedback on results - the classic entrepreneurial profile.

Maslow's hierarchy (physiological, safety, social, esteem, self-actualisation) explains how unmet needs become motives for starting a venture.

Herzberg's two-factor theory: hygiene factors (pay, conditions) prevent dissatisfaction; motivators (achievement, recognition, growth) create satisfaction.

Vroom's expectancy theory: motivation = expectancy × instrumentality × valence; if any factor is zero, effort collapses.

Growth mindset (Dweck): ability is developable through effort; fixed mindset treats ability as static and increases fear of failure.

Fear of failure, low self-confidence and lack of finance are the most cited barriers to first-time venture creation.

Entrepreneurial orientation dimensions: innovativeness, proactiveness, risk-taking, competitive aggressiveness, autonomy.

Idea generation is divergent thinking (many options); evaluation is convergent thinking (selecting); never mix the two stages.

Creativity = ability to produce novel and useful ideas; innovation = successful implementation of a creative idea into a product, process or business model.

Brainstorming rules: defer judgement, encourage wild ideas, build on others' ideas, quantity before quality, one conversation at a time.

Other techniques: mind mapping, SCAMPER (Substitute, Combine, Adapt, Modify, Put to other use, Eliminate, Reverse), focus groups, Delphi method, lead-user analysis, observation of customer pain points.

Sources of ideas: own experience and skills, market observation, complaints and unmet needs, government schemes and industrial reports, trade fairs, suppliers, universities, and changes in technology, law or demography.

Drucker's seven sources of innovation: unexpected success or failure, incongruity, process need, industry/market structure change, demographics, changes in perception, new knowledge.

Types of innovation: product, process, incremental, radical, disruptive; the innovation funnel shows many ideas narrowing to few launches.

Idea screening criteria: market demand, feasibility, cost, competitive strength, risk, and fit with the promoter's skills and resources.

Opportunity = a market need that can be served profitably with available or obtainable resources; an idea becomes an opportunity only if it is attractive, durable and timely.

Timmon's three tests: market demand and size, economic value (profitability), and competitive advantage; a venture needs all three.

Opportunity window: the period during which market conditions make a venture viable; it closes as competitors enter or technology shifts.

Pain point approach: identify a customer problem that is frequent, urgent and currently solved poorly or expensively.

Business idea development steps: idea generation → screening → market assessment → feasibility study → prototype/testing → business plan → launch.

Feasibility has four dimensions: market, technical, financial and organisational/legal.

Value proposition: the specific benefit the venture delivers and why it beats the customer's current alternative, stated from the customer's viewpoint.

Distinguish need from want: a need is a basic requirement; a want is a culturally shaped desire; demand is want backed by purchasing power.

Business plan = written document describing the venture's goals, strategy, market, operations, management and financial projections for a defined period.

Standard sections: executive summary, promoter profile, product/service description, market analysis, marketing plan, operations plan, management plan, financial plan, risk assessment, implementation schedule, annexures.

Executive summary is written last but placed first; it must stand alone and be no more than one to two pages.

Financial plan components: projected income statement, cash flow statement, balance sheet, break-even analysis, and funding requirement with its use.

SMART objectives: Specific, Measurable, Achievable, Relevant, Time-bound.

A plan is judged by its assumptions: state the basis for sales forecasts and cite verifiable sources for market data.

Audiences differ: bankers and investors look for repayment capacity and returns; government scheme officers look for eligibility and employment generation; partners look for roles and exit terms.

Pitch deck versus plan: the deck is a short visual summary (about 10–15 slides); the plan is the full supporting document.

Market assessment answers who the customer is, how many exist, what they buy, at what price, and from whom.

Market segmentation bases: geographic, demographic, psychographic, behavioural; the target segment must be measurable, accessible, substantial and differentiable.

TAM (total addressable market), SAM (serviceable addressable market) and SOM (serviceable obtainable market) narrow the estimate to a realistic share.

Demand estimation methods: survey of buyers, expert opinion, test marketing, and analysis of secondary data from census, National Sample Survey, and industry associations.

Primary data are collected fresh (survey, interview, observation); secondary data already exist; primary is costlier but more specific.

Competition analysis: identify direct, indirect and substitute competitors; compare on price, quality, availability, service and brand.

Pricing methods: cost-plus, going-rate, penetration (low launch price), skimming (high launch price), and value-based pricing.

Sampling: a sample must be representative; a biased sample makes the whole market estimate unreliable regardless of size.

Marketing mix (4Ps): Product, Price, Place, Promotion; for services add People, Process, Physical evidence (7Ps).

Product levels: core benefit, actual product (features, design, quality, brand), augmented product (warranty, after-sales service).

Product life cycle: introduction, growth, maturity, decline; strategy changes at each stage.

Distribution channels: direct (producer to consumer) is short; producer → wholesaler → retailer → consumer is long; channel choice trades reach against margin.

Promotion mix: advertising, personal selling, sales promotion, publicity/public relations, direct marketing.

Break-even point (units) = Fixed cost ÷ (Selling price per unit − Variable cost per unit); contribution per unit is the denominator.

Sales process: prospecting, qualifying, approach, presentation, handling objections, closing, follow-up.

Brand and customer relationship: repeat purchase is cheaper to obtain than a new customer; customer lifetime value guides retention spending.

Business finance covers estimating, raising and managing funds for the venture; the finance function includes planning, procurement and control.

Fixed capital is invested in long-term assets (land, building, machinery); working capital funds day-to-day operations.

Working capital = Current assets − Current liabilities; the operating cycle (inventory days + receivable days − payable days) determines its size.

Sources by duration: long-term (equity, term loans, debentures), medium-term (lease, hire purchase), short-term (bank overdraft, cash credit, trade credit, bill discounting).

Owned funds = equity and retained earnings, carry no fixed obligation; borrowed funds carry interest and repayment obligations but preserve ownership.

Capital structure: the mix of debt and equity; a high debt-equity ratio raises financial risk even as it lowers cost of capital.

Financial statements: income statement shows profit over a period; balance sheet shows assets, liabilities and capital at a date; cash flow shows actual receipts and payments.

Ratio measures: gross profit margin = (Sales − Cost of goods sold) ÷ Sales; net profit margin = Net profit ÷ Sales; current ratio = Current assets ÷ Current liabilities.

Cost of capital = weighted average of the cost of each source; the venture must earn at least this rate to create value.

Costing methods: job costing (custom orders), process costing (continuous production), contract costing (long projects), service costing.

Elements of cost: direct material + direct labour + direct expenses = prime cost; add factory overheads = works/factory cost; add administration overheads = cost of production; add selling and distribution overheads = cost of sales.

Fixed costs do not vary with output (rent, salaries, insurance); variable costs vary with output (raw material, direct labour, power); semi-variable costs have both elements.

Contribution = Sales − Variable cost; Profit = Contribution − Fixed cost.

Break-even sales (value) = Fixed cost ÷ P/V ratio, where P/V ratio = Contribution ÷ Sales.

Margin of safety = Actual sales − Break-even sales; expressed as a percentage of actual sales it measures cushion against loss.

Startup funding stages: own and family savings → seed/angel → venture capital → private equity → public issue; each stage demands more scale and governance.

Sole proprietorship: single owner, unlimited liability, full control and profit, limited capital; simplest to form.

Partnership: two to fifty partners under the Indian Partnership Act, 1932; liability unlimited and joint; governed by the partnership deed.

Limited Liability Partnership (LLP): partners' liability limited to agreed contribution; at least two designated partners, one resident in India; governed by the LLP Act, 2008.

Hindu Undivided Family (HUF) and cooperative society are other forms; cooperatives follow the principle of one member, one vote.

Company: separate legal entity, perpetual succession, limited liability; private company needs minimum two members and two directors; public company minimum seven members and three directors; governed by the Companies Act, 2013.

One Person Company (OPC): a private company with one member, allowed under the Companies Act, 2013.

Setup sequence: idea and feasibility → choose form → register name and entity → obtain PAN, TAN, GST registration if applicable → Udyam registration → licences (factory, pollution, food safety) → arrange premises, finance and manpower → commence operations.

Udyam Registration (replacing Udyog Aadhaar) is the online MSME registration on the government portal and forms the base for scheme benefits.

MSME Development Act, 2006 provides the statutory framework for MSME promotion; the Ministry of MSME is the nodal ministry.

Udyam Registration is the online registration that makes an enterprise eligible for MSME benefits; Aadhaar and PAN are required.

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) gives collateral-free loan guarantee cover to eligible micro and small enterprises.

Stand-Up India supports greenfield enterprises by SC/ST and women entrepreneurs; MUDRA (Pradhan Mantri MUDRA Yojana) offers Shishu, Kishor and Tarun loans through banks.

Startup India: DPIIT recognition, income-tax exemption under specified conditions, self-certification of compliance, and Fund of Funds support.

Institutional support: District Industries Centre (DIC) for registration and local clearances; SIDBI for MSME finance; NSIC for marketing and raw material support; NEDFi for the North-East; Khadi and Village Industries Commission (KVIC).

Assam-specific support: Assam Industrial Development Corporation (AIDC), Assam Small Industries Development Corporation (ASIDC), and the state's startup and MSME policies.

Awareness gap, collateral demands and complex documentation are the commonly reported reasons entrepreneurs fail to use available schemes.

Business ethics = principles of right conduct applied to commercial decisions; they concern fair dealing with customers, employees, suppliers and competitors.

Ethical issues: misleading advertising, adulteration, tax evasion, insider trading, bribery, exploitation of labour, and environmental damage.

Corporate Social Responsibility (CSR): voluntary or mandated contribution of business to society; Section 135 of the Companies Act, 2013 requires CSR spending by companies crossing specified profit, turnover or net-worth thresholds.

Triple bottom line: People, Planet, Profit - social, environmental and economic performance measured together.

Sustainability = meeting present needs without compromising the ability of future generations to meet theirs (Brundtland definition).

Sustainable practices for small firms: waste reduction, energy and water efficiency, local sourcing, recyclable packaging, fair wages.

Social entrepreneurship: a venture whose primary mission is solving a social problem, with earned income supporting the mission.

Consumer protection framework in India: Consumer Protection Act, 2019, covering e-commerce and establishing the Central Consumer Protection Authority.

Entrepreneur (French 'entreprendre' = to undertake): a person who combines land, labour, capital and enterprise to produce goods or services and bears the risk of the outcome.

Four factors of production: land, labour, capital, entrepreneurship; entrepreneurship is the organising factor that coordinates the other three.

Definitions: Schumpeter - innovator who carries out new combinations; Cantillon - bearer of risk; Drucker - one who searches for change and exploits it as opportunity.

Nature: economic activity, creative and innovative, dynamic, risk-bearing, organising, profit-oriented; it is a process, not a single act.

Significance: employment generation, capital formation, balanced regional development, raising per-capita income, export earnings, dispersal of economic power, social change.

Schumpeter's five innovations: new product, new method of production, new market, new source of raw material, new organisation of industry.

Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 classifies enterprises by investment in plant and machinery (manufacturing) or equipment (services); revised limits are notified periodically.

Intrapreneur: an employee inside an existing firm who innovates using the firm's resources; differs from entrepreneur in risk-bearing and ownership.

Competency = knowledge + skill + attitude applied to a task; it is observable behaviour, not a personality trait.

McClelland's entrepreneurial competencies: initiative, seeing and acting on opportunities, persistence, information seeking, concern for quality, commitment to work contract, efficiency orientation, systematic planning, problem solving, self-confidence, assertiveness, persuasion, use of influence strategies, monitoring.

Opportunity-seeking and initiative are the competencies most consistently associated with venture creation.

Kakinada (Andhra Pradesh) and Gujarat experiments: training in achievement motivation increased the number of new enterprises among participants.

Competency clusters: planning (systematic planning, problem solving), execution (persistence, efficiency), and people (persuasion, influence, monitoring).

Distinguish competency from motive: a motive is an inner drive; a competency is demonstrable behaviour that can be trained.

Self-efficacy (Bandura): belief in one's capability to execute a task; high self-efficacy raises persistence after failure.

Competency gap analysis: compare required competencies for a venture with the promoter's present competencies, then close gaps by training, hiring a partner, or outsourcing.

Motivation = internal drive that directs behaviour toward a goal; entrepreneurial motivation includes need for achievement (nAch), need for power, need for affiliation, independence, and desire for wealth.

McClelland: high nAch is linked to moderate risk-taking, personal responsibility for outcomes, and feedback on results - the classic entrepreneurial profile.

Maslow's hierarchy (physiological, safety, social, esteem, self-actualisation) explains how unmet needs become motives for starting a venture.

Herzberg's two-factor theory: hygiene factors (pay, conditions) prevent dissatisfaction; motivators (achievement, recognition, growth) create satisfaction.

Vroom's expectancy theory: motivation = expectancy × instrumentality × valence; if any factor is zero, effort collapses.

Growth mindset (Dweck): ability is developable through effort; fixed mindset treats ability as static and increases fear of failure.

Fear of failure, low self-confidence and lack of finance are the most cited barriers to first-time venture creation.

Entrepreneurial orientation dimensions: innovativeness, proactiveness, risk-taking, competitive aggressiveness, autonomy.

Idea generation is divergent thinking (many options); evaluation is convergent thinking (selecting); never mix the two stages.

Creativity = ability to produce novel and useful ideas; innovation = successful implementation of a creative idea into a product, process or business model.

Brainstorming rules: defer judgement, encourage wild ideas, build on others' ideas, quantity before quality, one conversation at a time.

Other techniques: mind mapping, SCAMPER (Substitute, Combine, Adapt, Modify, Put to other use, Eliminate, Reverse), focus groups, Delphi method, lead-user analysis, observation of customer pain points.

Sources of ideas: own experience and skills, market observation, complaints and unmet needs, government schemes and industrial reports, trade fairs, suppliers, universities, and changes in technology, law or demography.

Drucker's seven sources of innovation: unexpected success or failure, incongruity, process need, industry/market structure change, demographics, changes in perception, new knowledge.

Types of innovation: product, process, incremental, radical, disruptive; the innovation funnel shows many ideas narrowing to few launches.

Idea screening criteria: market demand, feasibility, cost, competitive strength, risk, and fit with the promoter's skills and resources.

Opportunity = a market need that can be served profitably with available or obtainable resources; an idea becomes an opportunity only if it is attractive, durable and timely.

Timmon's three tests: market demand and size, economic value (profitability), and competitive advantage; a venture needs all three.

Opportunity window: the period during which market conditions make a venture viable; it closes as competitors enter or technology shifts.

Pain point approach: identify a customer problem that is frequent, urgent and currently solved poorly or expensively.

Business idea development steps: idea generation → screening → market assessment → feasibility study → prototype/testing → business plan → launch.

Feasibility has four dimensions: market, technical, financial and organisational/legal.

Value proposition: the specific benefit the venture delivers and why it beats the customer's current alternative, stated from the customer's viewpoint.

Distinguish need from want: a need is a basic requirement; a want is a culturally shaped desire; demand is want backed by purchasing power.

Business plan = written document describing the venture's goals, strategy, market, operations, management and financial projections for a defined period.

Standard sections: executive summary, promoter profile, product/service description, market analysis, marketing plan, operations plan, management plan, financial plan, risk assessment, implementation schedule, annexures.

Executive summary is written last but placed first; it must stand alone and be no more than one to two pages.

Financial plan components: projected income statement, cash flow statement, balance sheet, break-even analysis, and funding requirement with its use.

SMART objectives: Specific, Measurable, Achievable, Relevant, Time-bound.

A plan is judged by its assumptions: state the basis for sales forecasts and cite verifiable sources for market data.

Audiences differ: bankers and investors look for repayment capacity and returns; government scheme officers look for eligibility and employment generation; partners look for roles and exit terms.

Pitch deck versus plan: the deck is a short visual summary (about 10–15 slides); the plan is the full supporting document.

Market assessment answers who the customer is, how many exist, what they buy, at what price, and from whom.

Market segmentation bases: geographic, demographic, psychographic, behavioural; the target segment must be measurable, accessible, substantial and differentiable.

TAM (total addressable market), SAM (serviceable addressable market) and SOM (serviceable obtainable market) narrow the estimate to a realistic share.

Demand estimation methods: survey of buyers, expert opinion, test marketing, and analysis of secondary data from census, National Sample Survey, and industry associations.

Primary data are collected fresh (survey, interview, observation); secondary data already exist; primary is costlier but more specific.

Competition analysis: identify direct, indirect and substitute competitors; compare on price, quality, availability, service and brand.

Pricing methods: cost-plus, going-rate, penetration (low launch price), skimming (high launch price), and value-based pricing.

Sampling: a sample must be representative; a biased sample makes the whole market estimate unreliable regardless of size.

Marketing mix (4Ps): Product, Price, Place, Promotion; for services add People, Process, Physical evidence (7Ps).

Product levels: core benefit, actual product (features, design, quality, brand), augmented product (warranty, after-sales service).

Product life cycle: introduction, growth, maturity, decline; strategy changes at each stage.

Distribution channels: direct (producer to consumer) is short; producer → wholesaler → retailer → consumer is long; channel choice trades reach against margin.

Promotion mix: advertising, personal selling, sales promotion, publicity/public relations, direct marketing.

Break-even point (units) = Fixed cost ÷ (Selling price per unit − Variable cost per unit); contribution per unit is the denominator.

Sales process: prospecting, qualifying, approach, presentation, handling objections, closing, follow-up.

Brand and customer relationship: repeat purchase is cheaper to obtain than a new customer; customer lifetime value guides retention spending.

Business finance covers estimating, raising and managing funds for the venture; the finance function includes planning, procurement and control.

Fixed capital is invested in long-term assets (land, building, machinery); working capital funds day-to-day operations.

Working capital = Current assets − Current liabilities; the operating cycle (inventory days + receivable days − payable days) determines its size.

Sources by duration: long-term (equity, term loans, debentures), medium-term (lease, hire purchase), short-term (bank overdraft, cash credit, trade credit, bill discounting).

Owned funds = equity and retained earnings, carry no fixed obligation; borrowed funds carry interest and repayment obligations but preserve ownership.

Capital structure: the mix of debt and equity; a high debt-equity ratio raises financial risk even as it lowers cost of capital.

Financial statements: income statement shows profit over a period; balance sheet shows assets, liabilities and capital at a date; cash flow shows actual receipts and payments.

Ratio measures: gross profit margin = (Sales − Cost of goods sold) ÷ Sales; net profit margin = Net profit ÷ Sales; current ratio = Current assets ÷ Current liabilities.

Cost of capital = weighted average of the cost of each source; the venture must earn at least this rate to create value.

Costing methods: job costing (custom orders), process costing (continuous production), contract costing (long projects), service costing.

Elements of cost: direct material + direct labour + direct expenses = prime cost; add factory overheads = works/factory cost; add administration overheads = cost of production; add selling and distribution overheads = cost of sales.

Fixed costs do not vary with output (rent, salaries, insurance); variable costs vary with output (raw material, direct labour, power); semi-variable costs have both elements.

Contribution = Sales − Variable cost; Profit = Contribution − Fixed cost.

Break-even sales (value) = Fixed cost ÷ P/V ratio, where P/V ratio = Contribution ÷ Sales.

Margin of safety = Actual sales − Break-even sales; expressed as a percentage of actual sales it measures cushion against loss.

Startup funding stages: own and family savings → seed/angel → venture capital → private equity → public issue; each stage demands more scale and governance.

Sole proprietorship: single owner, unlimited liability, full control and profit, limited capital; simplest to form.

Partnership: two to fifty partners under the Indian Partnership Act, 1932; liability unlimited and joint; governed by the partnership deed.

Limited Liability Partnership (LLP): partners' liability limited to agreed contribution; at least two designated partners, one resident in India; governed by the LLP Act, 2008.

Hindu Undivided Family (HUF) and cooperative society are other forms; cooperatives follow the principle of one member, one vote.

Company: separate legal entity, perpetual succession, limited liability; private company needs minimum two members and two directors; public company minimum seven members and three directors; governed by the Companies Act, 2013.

One Person Company (OPC): a private company with one member, allowed under the Companies Act, 2013.

Setup sequence: idea and feasibility → choose form → register name and entity → obtain PAN, TAN, GST registration if applicable → Udyam registration → licences (factory, pollution, food safety) → arrange premises, finance and manpower → commence operations.

Udyam Registration (replacing Udyog Aadhaar) is the online MSME registration on the government portal and forms the base for scheme benefits.

MSME Development Act, 2006 provides the statutory framework for MSME promotion; the Ministry of MSME is the nodal ministry.

Udyam Registration is the online registration that makes an enterprise eligible for MSME benefits; Aadhaar and PAN are required.

Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) gives collateral-free loan guarantee cover to eligible micro and small enterprises.

Stand-Up India supports greenfield enterprises by SC/ST and women entrepreneurs; MUDRA (Pradhan Mantri MUDRA Yojana) offers Shishu, Kishor and Tarun loans through banks.

Startup India: DPIIT recognition, income-tax exemption under specified conditions, self-certification of compliance, and Fund of Funds support.

Institutional support: District Industries Centre (DIC) for registration and local clearances; SIDBI for MSME finance; NSIC for marketing and raw material support; NEDFi for the North-East; Khadi and Village Industries Commission (KVIC).

Assam-specific support: Assam Industrial Development Corporation (AIDC), Assam Small Industries Development Corporation (ASIDC), and the state's startup and MSME policies.

Awareness gap, collateral demands and complex documentation are the commonly reported reasons entrepreneurs fail to use available schemes.

Business ethics = principles of right conduct applied to commercial decisions; they concern fair dealing with customers, employees, suppliers and competitors.

Ethical issues: misleading advertising, adulteration, tax evasion, insider trading, bribery, exploitation of labour, and environmental damage.

Corporate Social Responsibility (CSR): voluntary or mandated contribution of business to society; Section 135 of the Companies Act, 2013 requires CSR spending by companies crossing specified profit, turnover or net-worth thresholds.

Triple bottom line: People, Planet, Profit - social, environmental and economic performance measured together.

Sustainability = meeting present needs without compromising the ability of future generations to meet theirs (Brundtland definition).

Sustainable practices for small firms: waste reduction, energy and water efficiency, local sourcing, recyclable packaging, fair wages.

Social entrepreneurship: a venture whose primary mission is solving a social problem, with earned income supporting the mission.

Consumer protection framework in India: Consumer Protection Act, 2019, covering e-commerce and establishing the Central Consumer Protection Authority.