Question

Training broadens the vision of entrepreneurs.

Answer 1

This statement is True. This is because.

TRAINING

1. The traditional school of thought had been thinking that `entrepreneurs are born and not made' where as the modern observation mentions that some entrepreneurs may be born but a large of them can be made by education and training. Hence today there is a need of training to produce eligible future entrepreneurs.

2. Training is a scheme of instructions :which is planned, systematic, consistent, pervasive and monitored to measure its effectiveness. It is an integral input of managerial development.

3. Training broadens the vision of entrepreneurs by providing them suitable opportunities for an interchange of experience within and outside an industry. It builds necessary skills of new entrepreneurs. It imparts knowledge of marketing of goods production methods, consumers education, etc. Training exposes an entrepreneur to the latest development which can directly or indirectly affects him.

4. With the help of training there can be minimization of excessive scraps, defective outputs and wastages in the production process. Training helps in improving overall efficiency of an entrepreneur. The process of training helps an entrepreneur to accept new technology, team spirit, standardization, reduces fatigue, minimizes industrial accidents, etc.

5. Some methods of training are lecture method, demonstration method, individual instructions, group instructions, meetings, conferences, seminars, etc.