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Question
Justify the following statement.
Entrepreneurship is the best source for self-employment.
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Solution
- Entrepreneurship means the willingness of an individual to start a new business venture by taking risk and managing it in this technology enabled competitive global environment.
- The entrepreneurs are passionate to innovate, lead, invent or pioneer with a disruptive product or technology.
- The size of the business, the type of work involved, the age or the formal education of the entrepreneur etc. do not restrict the entry of the entrepreneur.
- Similarly, the label of success or failure also does not matter.
- Entrepreneurs are the people who have the courage to offer and to share an idea or a product or a service with the world. They try to make market a better place where the needs of consumers can be satisfied.
- Thus, Entrepreneurship is the best source for self-employment.
RELATED QUESTIONS
Write short answer of the following.
Discuss the factors motivating the entrepreneur.
Match the correct pairs:
| Group 'A' | Group 'B' |
| a. Economic activity b. Highly optimistic c. External values d. Internal values e. Motivation |
1. Self fulfillment 2. Entrepreneurship 3. Passion 4. A sense of belonging 5. Entrepreneur 6. Positive or negative 7. Benefit 8. Dimension 9. Necessity Based 10. Market opportunity |
Distinguish between: Entrepreneur and Manager
'Entreprendre' means to ______.
A successful businessman takes a calculated risk.
An entrepreneur is a person who starts a ______.
Select the correct option.
(Innovation, Niche Tourism, Agro tourism, Entrepreneurship)
| Group A | Group B |
| l) The idea of bringing Urban resident to agricultural farm | _________________ |
| 2) Agro-tourism is a form of | _________________ |
| 3) __________________ | To introduce new combination of products & features |
| 4) ___________________ | A full time job which requires, dedication & Hard-work. |
Answer in one sentence.
Who described ‘Entrepreneurship’ as the founding of a private enterprise?
Explain the following term/concept:-
Entrepreneur
Define an entrepreneur.
Select the correct option.
(Innovation, niche tourism, agro-tourism, entrepreneurship, Start-up India)
| Group A | Group B |
| A. The idea of bringing urban residents to agricultural farm | _____________________ |
| B. Agro tourism is form of | _____________________ |
| C. __________________ | To introduce new combination of products and features |
| D. A full-time job which requires dedication and hard work. | _____________________ |
| E. ______________ | Entity having headquarter in India |
Select the correct option.
(Innovation, niche tourism, agro-tourism, entrepreneurship, Startup India)
| Group A | Group B |
| A. the idea of bringing urban residents to agricultural farm | _____________________ |
| B. Agro tourism is form of | _____________________ |
| C. __________________ | To introduce new combination of products and features |
| D. A full-time job which requires dedication and hard work. | _____________________ |
| E. ______________ | Entity having headquarter in India |
Which of the below is a factor of production?
Explain the following term/concept in detail.
Entrepreneur
Study the following case/situation and express your opinion:
Mr. Sumedh is a young MBA degree holder and Mr. Mayur is a B.Com graduate. Mr. Sumedh is willing to start a dairy farm at his village. Mr. Mayur is willing to work as a cashier in a private company.
- Find out the dream of Mr. Sumedh and Mr. Mayur.
- State any 1 feature of entrepreneur.
- To become a successful entrepreneur, which qualities Mr. Sumedh should have?
