Tag: small business and enterprises

Questions Related to small business and enterprises

Social entrepreneurs play the role of change agents in  the social sector by -

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Adopting a mission to create and sustain social value recognizing and relentlessly pursuing new opportunities to serve that mission

  2. Engaging in a process of continuous innovating, adaptation and learning.

  3. Acting boldly without being limited by resources currently in hand

  4. All of the above

Show answer
Correct Option: D
Explanation:

Social entrepreneurs play the role of change agents in the social sector by Acting boldly without being limited by resources currently in hand, Engaging in a process of continuous innovating,adaptation and learning, adopting a mission to create and sustain social value recognizing and relentlessly pursuing new opportunities serve that mission.

National Skill Development Corporation (NSDC) operates through partnership with  

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Private Sector

  2. Central Ministries

  3. State Government

  4. All of the above

Show answer
Correct Option: D
Explanation:

National Skill Development Corporation is a non profit organisation set up as a public private  company in order to create and fund vocational training and skill training. It operates through partnership with private sector,state government and central ministries.

Among the following which are to be considered as a type of entrepreneur?
(i) Idealist (ii) Optimisers (iii) Hard workers (iv) Sustainers (v) Improver (vi) Advisor (vii) Superstar (viii) Artiste (ix) Visionary (x) Analyst (xi) Fireball (xii) Jugglers (xiii) Hero (xiv) Healer

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. (i),(iv), (vi), (ix), (xii), (xiv)

  2. (ii), (iii), (vii), (xi), (xiii)

  3. (v), (viii), (x), (xi), (xii)

  4. All of the above

Show answer
Correct Option: D

For the economic and industrial development Micro, Small and Medium Enterprise play an important role such as
(1) They have the capacity to absorb skilled and
unskilled labour available in the country.
(2) Such institution provide lots of employment and  allow income to get concentrated  in few hands        or in few areas.
(3)They help in eradication of poverty by providing  self-employment opportunities.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Only (1)

  2. Only (2)

  3. Only (3)

  4. Only (1) & (3)

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Correct Option: D

In an international perspective, which of the following decisions are NOT covered under strategic planning of an Entrepreneur?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. What are unique characteristics of each market?

  2. Who should be involved in marketing decisions?

  3. What customer benefits are provided by the product?

  4. What are the company's major strengths and weaknesses?

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Correct Option: A

Entrepreneurship is characterized by the following features viz _______.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. essence of entrepreneurship is the willingness to assume risk arising out of the creation and implementation of new ideas

  2. entrepreneurship involves a continuous search for new ideas

  3. entrepreneurship is a process, a journey, not the destination; a means, not an end

  4. all of the above

Show answer
Correct Option: D
Explanation:

Entrepreneurship is the process of developing some new process, business,ideas from the existing one by applying skills and potentials. It is characterized by the following features:- entrepreneurship is a process, a journey, not the destination; a means, not an end, it involves a continuous search for new ideas and the essence of entrepreneurship is the willingness to assume risk out of the creation and implementation of new ideas.

____ are the ones who predominantly are focused to start a business to improve the world. Their motto is to work in a manner which is morally and ethically correct so as to contribute to a noble cause.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. The hard workers entrepreneur

  2. The idealist entrepreneur

  3. The improver types of entrepreneur

  4. The optimizer entrepreneur

Show answer
Correct Option: B
Explanation:

The idealist entrepreneur likes innovation and enjoys working on something new or something meaningful. They are the ones who predominantly are focused to start a business to improve the world. Their motto is to work in a manner which is morally and ethically correct so as to contribute a noble cause.

Answer is B.

What led to development of Entrepreneurship in India?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Growing concern for economic development

  2. Increase in population

  3. Too many professionals in India.

  4. Both (a) and (b)

Show answer
Correct Option: A
Explanation:

The 1991 economic liberalization in India led to Entrepreneurship as a catalyst in growth of business and economic development, that transformed India from a struggling economy to one of the best economies in the world.

Generally micro entrepreneurs operate ____________.

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. for their choice

  2. for their need

  3. for their luxury

  4. none of the above

Show answer
Correct Option: A
Explanation:
Those who startup microenterprises are usually referred to as micro entrepreneurs. They start up the enterprises by their choice.

The typical corporate culture has a climate and reward system that favors Conservative decision-making. Often there are individuals who want to come out of it. Which one of the following is the first step in the Entrepreneurial process?

organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

  1. Developing successful business ideas

  2. Deciding to become an Entrepreneur

  3. Growing the Entrepreneurial firm

  4. Moving from an idea to an Intrapreneur

Show answer
Correct Option: B