CHAPTER-13 ENTREPRENEURSHIP DEVELOPMENT

Describe briefly the role of achievement motivation in entrepreneurship.

Clarify how motivation and abilities impact an individual's decision to choose entrepreneurship as a career.

Clarify how motivation and abilities impact an individual's decision to choose entrepreneurship as a career.

Examine the nature of relationship between entrepreneurship and economic development.

Describe briefly the steps involved in starting a new business.

Which of the following attitudes is not generally associated with successful entrepreneurship

(a) Investing in R and D

(b) Live your business day by day

(c) Innovate and improvise continually

(d) Produce as per customers' requirements

Which of the following attitudes is not generally associated with successful entrepreneurship

(a) Investing in R and D

(b) Live your business day by day

(c) Innovate and improvise continually

(d) Produce as per customers' requirements

How does entrepreneurship result in increasing the spectrum and scope of economic activities?

In the roles and functions of the entrepreneur identified by Kilby, which of the following is not an aspect of 'political administration'?

(a) Dealing with public bureaucracy

(b) Managing human relations within the firm

(c) Introducing new production techniques and products

(d) Managing customer and supplier relations

''Entrepreneurs undertake moderate risks''. Elaborate this statement.

Which of the following statements does not clearly distinguish between entrepreneurship and management?

(a) Entrepreneurs found the business; managers operate it

(b) Entrepreneurs are the owners of their business; managers are employees

(c) Entrepreneurs earn profits; managers earn salaries

(d) Entrepreneurship is once for all activity; management is a continuous activity

Why is entrepreneurship regarded as a creative activity?

Why is entrepreneurship regarded as a creative activity?

In economics, which of the following is not a function of the entrepreneur?

(a) Risk-taking

(b) Provision of capital and organization of production

(c) Innovation

(d) Day to Day conduct of business

Clarify the meaning of the terms 'entrepreneur', 'entrepreneurship' and 'enterprise'.

Entrepreneurs undertake

(a) Calculated risk

(b) High risk

(c) Low risk

(d) Moderate and calculated risk