Entrepreneurship 1 Marks Question

Those devices which are mobile help in the growth of business. Smart mobility is changing the way the people interact. Smart devices have become a part of our lives. It includes mobiles, smart phones, I-pads, I-phones, etc.

Various sector specific schemes of the government are as follows:

1. Schemes implemented through KVIC(Khadi and Village Industries Commission).
2. Schemes implemented through Coir Board.
3. Schemes for priority sector.
4. Animal Husbandry Schemes.
5. Dairy Development Schemes.
6. Fisheries Development Schemes.
7. Agriculture Development Schemes.
8. Tea Board Schemes.
9. Tourism Industry Schemes.
10. Scientific and Engineering Research Schemes.

Natural factor is responsible for the loss caused to Manish.

Social entrepreneur can assess a social problem and find a solution to remove poverty among the masses and thus improve their standard of living.

Father of Green Revolution in India is M.S. Swaminathan and in the world is Norman Borlang.

The factors relating to barriers to entrepreneurship can be classified as:

1. Environmental barriers,
2. Personal barriers.

When the entrepreneurs are more intelligent, persistent and competent they enjoy a challenge.

The source of most innovative ideas is an individual's interest in a specific problem or area of study.

Yes, the above statement is true because solutions to problems open an area of revenue generation.

According to J. Gregory Dees, Social entrepreneurship is which combines the passion of a social mission with an image of business-like discipline, innovation, and determination.

Over time, cloud-based services is expected to grow sophisticatedly and is expected to evolve into full-scale business processes as a service. It enables the firms to reduce cost, increase efficiency and will enable the firms to reduce risk.

Business risks mean the possibility of some unfavourable occurrence.

Barriers to entrepreneurship are the factors which inhibit the growth of entrepreneurship.

Some common social media networks are Google, Facebook, Twitter, WhatsApp, Instagram, etc.

GPS stands for Global Positioning Service.

According to Martin and Osberg, "The Social Entrepreneur aims for value in the form of large-scale transformational benefit that accrues either to a significant segment of society or to society at large”. Moreover, the social entrepreneur targets his/ her programs at the underserved, neglected, or highly disadvantaged population that lacks the financial means or political clout to achieve the transformative benefit on its own.

Two such schemes are as follows:

1. Animal husbandry schemes.
2. Dairy development schemes.

J Gregory Dees defines social entrepreneurship as,
“Social entrepreneurship is which combines the passion of a social mission with an image of business like discipline, innovation and determination”.

Creativity and innovation are the distinguishing marks of an entrepreneur.

Business Intelligence: It is the ability of an organization to collect, maintain, and organize data.
Example: Sales data during an off season discount.

By 2016, Gartner-a consultancy firm, 'expects all Forbes' Global 2000 companies to use public cloud services, transforming much of the current IT hardware, software and database markets into infinitely flexible utilities.

To be a successful entrepreneur, one has to be a problem solver.

Social media refers to an interaction among people in which they create, share, and/ or exchange information and ideas between various people around the world and through networks.

For an entrepreneur, the main motivating factor which urges them to continue in their entrepreneurial pursuit is challenge.

Example of insurable risk is ‘loss by fire' and an example of non-insurable risk is loss to an enterprise due to fluctuations in price and demand.

If a prospective entrepreneur does not have access to capital for setting up his her new enterprise. He or she will feel discouraged to proceed further.

Innovativeness, creativity and potential for hard work are some qualities an entrepreneur must have to become a successful entrepreneur.

Risk is the chance of loss and refers to the possibility of some adverse occurrence.

Telemetric applications.

The type of risk is non-insurable risk.

Business risk means the possibility of some favourable occurrence.

Two schemes initiated by the government in this regard are as follows:

1. Tax holiday scheme.
2. Composite loan scheme.

Innovation means to implement the creative ideas in practice.

Creativity and innovation are the distinguishing marks of the entrepreneur.

Systematic study of barriers will lead to a proper understanding of the fields areas in which they occur.

Creativity is a continuous activity for the entrepreneur, who always sees new ways of doing things.

Entrepreneurs take efforts to solve problems faced by the people due to which they are referred as problem solvers. When one problem is solved a new commodity is created i.e. a new value is created.

Example: NZTE, Technology NZ.

According to B.O. Wheeler, “Risk is the chance of loss. It is the possibility of some adverse occurrence".

A Canon engineer accidently rested his hot iron on his pen, ink was ejected from the pens point a few moments later. This principle led to the creation of the inkjet printer for the world.

Telemetric applications are being developed for use in medical informatics, health care and other fields.

Sales data during an off season discount produces large amounts of information. This can be used for developing new opportunities. Implementing an effective strategy for the new opportunity for gaining competitive edge and having long-term stability.

Any person who undertakes risks, enjoys challenge and habitually creates and innovates to build something of recognised value around perceived opportunities can be referred as entrepreneur.

Business intelligence is the ability of an organization to collect, maintain, and organize data.

Creativity and innovation are the distinguishing marks of the entrepreneur.

The study suggests that the amount of digital information created each year will increase to 35 trillion gigabytes by 2020.

External risks are the risks that arise due to the events occurring outside the firm or the business venture. These are beyond the control of entrepreneurs as they cannot be forecasted. Probability occurrence cannot be determined.

Risk is due to natural factor.

Non-insurable risks are those whose probability cannot be determined and which cannot be insured against.
For example: Fluctuations in price and demand.

Martin and Osberg define social entrepreneur as, “The social entrepreneur aims for value in the form of large-scale transformational benefit that accrues either to a significant segment of society or to society at large”.