Enterpreneurship Development

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Module -1
Entrepreneurships (Two Mark Questions)
1.

Define Entrepreneurship ?
It is defined as the activity of an individual or a associated individuals, undertaken to

initiate, maintain or aggrandize profit by production or distribution of economic goods and services.
2.

List the different types of Entrepreneurs?
The different types of Entrepreneurs are

1.
3.

Innovating Entrepreneur
Fabian Entrepreneur

2.
4.

Imitative Entrepreneur
Drone Entrepreneur

3.

What are the characteristics of an Entrepreneur?
The various characteristics are hard work, Achievement, optimistic, Independence,

foresight, Organiser Innovator.
4.

List out some successful entrepreneurs in our country?
Tata, Birla, Modi, Dalmia, Kirlosker are some for the successful entrepreneurs in our

country.

5.

Classify the entrepreneurship Functions?
They are classified into Risk- bearing organization and innovation.

6.

What do you mean by solo operators?
Solo operators are entrepreneur who essentially work alone and if needed at all,

employ a few employees

7.

Who are active partners?
Active partners are those entrepreneurs who start/carry on an enterprise as a joint

venture.

8.

Who are inventors?
Entrepreneurs with their competence and inventiveness invent new products. They are

called as inventors.
9.

Give any two difference between entrepreneurs and Intrapreneur? Entrepreneurs

(i)

An entrepreneurs is independent

Intrapreneur
Intrapraneur is dependent on the
entrepreneurs (ie) the owner

(ii)

Funds are not raised by the

Funds required for the enterprise
10.

An entrepreneurs himself raises

by the intrapreneur

Define innovating Entrepreneurs?
Innovating entrepreneurs is one who introduces new goods, inaugurates new methods

of production, discovers new market and reorganizes the enterprise. 11.

Define imitative entrepreneurs?
Imitative entrepreneurs do not innovate the charges themselves, they only imitate

techniques and technology innovated by others.
12.

Give any two difference between Entrepreneur and manager
Entrepreneur

1.

Manager
A manger is the servant in the enterprise

owner of the enterprise
2.

An entrepreneur is the

owned by the entrepreneur

The reward of an entrepreneur

A manager gets salary

get for bearing risks involved

as reward for the services rented by him

in the enterprise is profit

in the enterprise salary of a manager is

which is highly uncertain

certain and fixed.

13.

Give any two functions of an entrepreneur?
™

™

™

™
14.

Determination of business objects
Raising necessary funds
Recruitment of men
Undertaking the business operations

Who are challengers?
These are the entrepreneurs who plunge into industry because of the challengers it

presents. When one challenge seems to be met, they begin to look for new challenges. 15.

Who are Buyers?
These are entrepreneurs who do not like to bear much risk. Hence in order to reduce

risk involved in setting up a new enterprise, they like to buy the ongoing one. 16.

Where did the word entrepreneur evolved from ?
The word entrepreneur has been taken from the French language where it cradled and

originally meant to designate an organizer of musical or other entertainments. 17.

Explain about life timers?
These entrepreneurs take business as an integral part of their life. Usually, the family

enterprise and business which mainly depend on exercise of personal skill fall in this type. 18.

Explain about done entrepreneurs?
These entrepreneurs refuse to adopt opportunities to make changes in formula. Such

enterprise may suffer from loss.

19.

Define Intra preneurs?
They are new breed of Entrepreneurs. They emerge with in the confine of existing

industry. Top executives are encouraged to hold new ideas.
20.

What are the basis elements of Entrepreneurship?
(i)

Risk Bearing...
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