Enterpreneurship MCQ Quiz in తెలుగు - Objective Question with Answer for Enterpreneurship - ముఫ్త్ [PDF] డౌన్‌లోడ్ కరెన్

The correct answer is Risk-bearing theory.

Key Points Risk-Bearing Theory

• The risk bearing theory of profit is established by Hawley. It suggests that entrepreneur’s profit depends on his risk taking behavior.
• That is, how much risk the entrepreneur will bear during the production determines the amount of profit enjoyed by him.
• During production the entrepreneur may not know the exact demand for his product in the market or change in consumers’ taste and preferences that affects the market demand. If the entrepreneur’s production exceeds the demand, he will incur loss for not selling his entire output.
• This implies that there is a demand side risk associated with production. If there is no compensation or reward for risk, there will be no incentive for taking risk.
• The nature of risk and the riskbearing capacity vary across industries. The higher the risk under taken, the more will be the profit earned.

Additional Information Frictional theory- One explanation of economic profits or losses is frictional profit theory. It states that markets are sometimes in disequilibrium because of unanticipated changes in demand or cost conditions. Unanticipated shocks produce positive or negative economic profits for some firms.

Monopoly theory- It occurs when a firm restricts output so as to prevent prices from falling to the level of costs.

Innovation theory- nnovation theory of profits was proposed by Schumpeter. He essentially means that if an entrepreneur wants to make profits he needs to make innovations in terms of the products/services.

Hence, the correct answer is Risk-bearing theory of profit.

The correct answer is Women Entrepreneurship Platform.

Key Points Women Entrepreneurship Platform:

• NITI Aayog has launched a Women Entrepreneurship Platform (WEP) for providing an ecosystem for budding & existing women entrepreneurs across the country.
• SIDBI has partnered with NITI Aayog to assist in this initiative.
• As an enabling platform, WEP is built on three pillars- Iccha Shakti, Gyaan Shakti & Karma Shakti
• Iccha Shakti represents motivating aspiring entrepreneurs to start their business
• Gyaan Shakti represents providing knowledge and ecosystem support to women entrepreneurs to help them foster entrepreneurship
• Karma Shakti represents providing hands-on support to entrepreneurs in setting-up and scaling up businesses.

Hence, the correct answer is Women Entrepreneurship Platform.

Key Points

• An entrepreneur is someone who starts a new firm, taking on most of the risks and reaping the majority of the gains.
• Entrepreneurs are frequently regarded as innovators or sources of new ideas since they replace existing products with new ones to introduce new concepts to the market.

Drone entrepreneurs:

• Entrepreneurs who are characterized by a refusal to adopt opportunities and make changes in production systems even if it affects the returns of the organization are called Drone entrepreneurs.
• These business owners are very conservative and do not want to change anything about the company, so they are hesitant to change.
• Even though they are losing money, they are content with their current business model and do not want to change it.
• Entrepreneurs who use drones are individuals who vehemently oppose environmental changes as they take place.
• They used to work in a specialised industry.

Thus, the correct answer is Drone entrepreneur.

Additional InformationFabian Entrepreneurs:

• These entrepreneurs have reservations about the proposed modifications to the company. 
• They don't come up with any inventions; instead, they merely adopt them once they are happy with their chances of success.
• They wait a while until the innovation is thoroughly tried by others and does not incur a significant loss in the event of failure.

Imitative entrepreneurs:

• Entrepreneurs who only replicate the new inventions created by innovative entrepreneurs are known as "imitative entrepreneurs."
• These only copy the technology, procedures, and methodologies invented by others; they don't actually create any advances of their own.

Lifetimer entrepreneurs:

• Such business-people view their profession as a vital aspect of who they are.
• Family businesses that rely primarily on the use of individual talent fall under this category.

The correct answer is Personal Values

Key Points Out of the three options, personal values can most effectively motivate entrepreneurs at their best.

Money: While financial success is often a goal for entrepreneurs, it's rarely the sole motivator. Many entrepreneurs are driven by a desire to build something meaningful, solve a problem, or make a positive impact. Money can be a tool to achieve these goals, but it's not the primary motivator for many.

Pull influences:  External factors like influential connections can provide initial opportunities, but true and sustained motivation comes from within the entrepreneur.

Personal Values: Personal values are the core beliefs and principles that guide an entrepreneur's decisions and actions. When an entrepreneur is passionate about their idea and driven by a desire to see it succeed based on their values, it can be a powerful and long-lasting source of motivation. This intrinsic motivation can fuel the entrepreneur through challenges and setbacks, helping them persevere and achieve their goals.

For example, an entrepreneur might be passionate about environmental sustainability and motivated to create a product that reduces waste. This alignment with their personal values can be a more powerful motivator than simply the potential for financial gain.

Of course, money and external factors can play a role, but for sustained success and overcoming challenges, personal values are often the most significant motivator for entrepreneurs.

The correct answer is Networking.

Key Points From the provided options, the most relevant term for the use of social capital by entrepreneurs to gather information is:

Networking

Networking involves building and maintaining relationships with others, and it is a key mechanism for leveraging social capital. Entrepreneurs often use their networks to access valuable information, advice, and resources, contributing to their overall success in business.

Additional Information Secondary Research:

Explanation: Secondary research involves the analysis and utilization of existing data and information from sources such as publications, reports, and databases. While secondary research is a valuable method for information gathering, it is not specifically related to leveraging social capital. Social capital is more focused on interpersonal relationships and networks.
Pilot Testing:

Explanation: Pilot testing refers to a small-scale trial or test of a product, service, or process before full implementation. It is a method used to assess feasibility and identify potential issues. However, pilot testing is not directly related to leveraging social capital. Social capital involves tapping into relationships and networks to gather insights and support, which may contribute to decisions regarding pilot testing.
Informal Parameters:

Explanation: "Informal parameters" is not a standard term in the context of gathering information or leveraging social capital. It may be a phrase that is not commonly used in business or research literature. Without a specific definition or context, it is challenging to relate it directly to the concept of using social capital for information gathering.
In summary, while networking is directly related to leveraging social capital for information gathering, the other options—secondary research, pilot testing, and informal parameters—are not specifically aligned with the concept of utilizing social capital in the entrepreneurial context.

The correct answer is Monitor.

Key Points Henry Mintzberg, a renowned management scholar, identified ten managerial roles that can be grouped into three categories: interpersonal, informational, and decisional roles. The decisional roles involve making decisions and managing conflicts. The specific decisional roles identified by Mintzberg are:

1. Entrepreneur:

   • Involves initiating new ideas to improve organizational performance and responding to opportunities.

2. Disturbance Handler:

   • Involves addressing conflicts and crises that disrupt the organization's normal functioning.

3. Resource Allocator:

   • Involves deciding how resources such as time, money, and personnel will be allocated to achieve organizational goals.

4. Negotiator:

   • Involves representing the organization in negotiations, such as labor contracts, sales, purchases, or mergers.

Explanation:

• When communicating with potential investors, the primary focus of a start-up should be to explain its unique selling proposition (USP).
• The USP is what differentiates the start-up from its competitors and gives investors a reason to invest.
• It could be a unique product, a novel approach to solving a problem, a significant cost advantage, or any other factor that gives the start-up a competitive edge.

• Seed capital is the initial funding that is required to start a new business or venture.
• It often comes from the founders' personal assets, friends, or family, as it's typically used before the venture can generate any revenues or attract more substantial funding, such as venture capital.
• The goal of seed funding is to support the early development stage of a company, allowing it to reach significant milestones and prove the viability of its business model.
• This kind of funding is not typically considered long-term assistance (option A) because it is meant to support the early stages of a company's growth rather than its long-term needs. It is also not related to the purchase of seeds (option B) despite its name, nor is it necessarily short-term assistance (option D), as the time frame can vary significantly depending on the business's development and success.
• Ultimately, seed capital plays a critical role in fostering innovation and entrepreneurship, helping to take business ideas from conception to reality.

The correct answer is Both (A) and (R) are correct and (R is the correct explanation of (A).

Key PointsAssertion (A): Entrepreneurship has emerged as a focal point of policy in the majority of countries.

• Entrepreneurship has indeed gained significant attention and importance in policy discussions and initiatives in many countries around the world. Governments recognize the potential of entrepreneurship to stimulate economic growth, create jobs, and foster innovation.
• They often implement policies and programs to encourage entrepreneurial activities, such as providing financial incentives, simplifying regulatory frameworks, offering support services, and promoting entrepreneurship education.

Reason (R): Entrepreneurship contributes to job generation, innovation, and promotes social cohesion.

• Entrepreneurship plays a crucial role in job creation, as new businesses often require a workforce to operate and grow.
• Small and medium-sized enterprises (SMEs), typically driven by entrepreneurs, are important sources of employment globally. By starting and expanding businesses, entrepreneurs provide opportunities for people to gain employment and contribute to the economy.

The correct answer is B only.

Key PointsLet us analyze the statements: 

B. Technology cannot create value for 'not-for-profit' organizations.

• Technology can indeed create value for not-for-profit organizations.
• While the primary goal of not-for-profit organizations may not be profit generation, technology can still play a crucial role in improving their efficiency, effectiveness, and impact.
• It can help streamline operations, enhance communication and collaboration, automate processes, improve data management and analysis, and enable better service delivery to the intended beneficiaries.

Additional Information A. Technology is a differentiator among similar business enterprises.
This statement is correct. In today's competitive business landscape, technology plays a crucial role in differentiating similar enterprises. By leveraging technology effectively, organizations can gain a competitive advantage by offering innovative products or services, improving operational efficiency, enhancing customer experience, and staying ahead of market trends. Technology can enable businesses to stand out and attract customers by providing unique value propositions and capabilities.

C. Pace of technology affects the business model of modern enterprises.
This statement is correct. The pace of technology advancement has a significant impact on the business models of modern enterprises. Rapid technological changes can disrupt industries, create new opportunities, and require businesses to adapt their strategies and operations. For example, the rise of e-commerce has transformed the retail sector, and the emergence of digital platforms has revolutionized various industries. Organizations need to stay abreast of technological advancements to remain competitive and adjust their business models accordingly.

D. Needs and Goals be defined before acquisition of technology.
This statement is correct. Before acquiring technology, it is crucial to define the needs and goals of the organization. By clearly understanding the organization's requirements and objectives, decision-makers can choose technology solutions that align with their specific needs. Defining needs and goals beforehand helps avoid unnecessary investments, ensures that the technology addresses critical business challenges, and maximizes the chances of successful implementation and utilization.

E. Organizations often underestimate or neglect the importance of managing the process of change once a decision to acquire technology has been made. Implementing new technology involves significant changes in workflows, business processes, and employee roles. Without proper attention to change management, organizations may face challenges such as resistance from employees, difficulties in adoption and utilization of the technology, and failure to realize the full benefits of the technology investment. 

Hence, the correct answer is B only.