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Entrepreneurial Planning — Entrepreneurship STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEntrepreneurial Planning3 Marks
Question
While doing the Manpower Planning an entrepreneur, decides to keep less qualified manpower and or give them low wages and salaries to enable higher profits. Do you think his/ her approach is correct and justified? Why?
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Answer

No, I don't think his/ her approach is correct and justified because of the below mentioned reasons:
  1. The product quality is likely to suffer because of less qualified manpower.
  2. Although, the entrepreneurs plan might lead to short-term profits, it is bound to give negative returns in the long-run as consumers become aware of the poor quality of the product and switch to competitors product.

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