Entrepreneurships (Two Mark Questions)
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.
List the different types of Entrepreneurs?
The different types of Entrepreneurs are
What are the characteristics of an Entrepreneur?
The various characteristics are hard work, Achievement, optimistic, Independence,
foresight, Organiser Innovator.
List out some successful entrepreneurs in our country?
Tata, Birla, Modi, Dalmia, Kirlosker are some for the successful entrepreneurs in our
Classify the entrepreneurship Functions?
They are classified into Risk- bearing organization and innovation.
What do you mean by solo operators?
Solo operators are entrepreneur who essentially work alone and if needed at all,
employ a few employees
Who are active partners?
Active partners are those entrepreneurs who start/carry on an enterprise as a joint
Who are inventors?
Entrepreneurs with their competence and inventiveness invent new products. They are
called as inventors.
Give any two difference between entrepreneurs and Intrapreneur? Entrepreneurs
An entrepreneurs is independent
Intrapraneur is dependent on the
entrepreneurs (ie) the owner
Funds are not raised by the
Funds required for the enterprise
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.
Give any two difference between Entrepreneur and manager
A manger is the servant in the enterprise
owner of the enterprise
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.
Give any two functions of an entrepreneur?
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.
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.
What are the basis elements of Entrepreneurship?