Tag: functions and role of an entrepreneur

Questions Related to functions and role of an entrepreneur

Select the statement which is not true for entrepreneurs.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. They have leading power of quality

  2. They change the way businesses convent inputs into outputs.

  3. They apply innovative ideas

  4. They generally stick to the processes already in use

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Correct Option: D
Explanation:

Entrepreneurs usually think out of the box than the same old process of doing things, rather they believe in doing things with innovation and make sure they achieve what they desire for.

To impose deadlines for himself is the requirement of ___________.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. entrepreneurs

  2. intrapreneur

  3. manager

  4. none of the above

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Correct Option: B
Explanation:

Intrapreneur is an entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities. An intrapreneur is mostly assigned to a project by the organization to which deadlines are imposed by himself to prove progress in its work. 

Which statement is not true of entrepreneurs?

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. They apply innovative ideas

  2. They take risks

  3. They change the way businesses convert inputs into outputs

  4. They generally stick to the processes already in use

Show answer
Correct Option: D
Explanation:

An entrepreneur is a person who is innovative in his ideas and thinks out of the box, they are open to take risks involved in the business process and they take different ideas to change the way of doing business and create more output from the input used.

Analyzing the business plan is required only for _________.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. start up company

  2. both start up company as well as established company

  3. companies that are not professionally managed

  4. both b and c

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Correct Option: B

Which one of the following is true about investment cost per job?

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. Investment costs per job are high in large and medium industries

  2. Investment costs per job are high in small scale enterprises

  3. Investment costs per job are high in micro enterprises

  4. Investment costs per job are higher in micro enterprises than small scale enterprises

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Correct Option: A
Explanation:
Investment cost per job are high in large and medium industries. Large industry has to rely heavily on extensive capital investment in its start-up stage, leading to a high investment costs per job.

Secondary research in Entrepreneurship is __________.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. research that has already been done for other purposes but is recognized for specific purpose

  2. research that has already been done for general purpose

  3. research that has already been done for public purpose

  4. all of the above

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Correct Option: A

Entrepreneur was distinguished from capital provider in _______.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. 17th century

  2. 18th century

  3. 19th and 20th century

  4. middle ages

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Correct Option: A

Who are artiste entrepreneurs?

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. Artist in T.V. serials

  2. Proclaim themselves to be artist

  3. Persons with creativity orientation

  4. Artist in movies

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Correct Option: C
Explanation:
Artiste- Often found in businesses demanding creativity such as web design and ad agencies. As an artist , typically youll tend to build your business around the unique talents and creativities you have.

Entrepreneur utilizes the resources through ___________.

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. identifying and evaluating the opportunity

  2. developing a business plan

  3. implementing the business plan

  4. manage the enterprise

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Correct Option: C

What is an idea behind an Entrepreneur doing a feasibility study?

organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

  1. To see of there are possible barriers to success

  2. To identify possible sources of funds

  3. To estimate the expected sales

  4. To explore potential customers

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Correct Option: A