1. Define entrepreneurship?

(1)

Entrepreneurship may be defined as a systematic innovation which

consists of the purposeful and organised search for changes, and a
systematic analysis of the opportunities that such change might offer for
economic and social transformation.
2. When it wanes, as it surely will in difficult times, take some guilt time.
This statement shows which attitude of an entrepreneur.
(1)
Have passion for business
3. They are the loyal workers who make the world function. Identify the
personality type of entrepreneur and mention any two characteristics of
them.
(1)
AUTHORITARIANS
4. Who is social entrepreneur?

(1)

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.
5. Give one point of difference between primary and secondary forces.

(1)

The Internal Environment refers to the forces operating in the market

that are close or within the organization and affect its ability to serve its
customers directly.
These macro forces refer to all forces that are part of the larger society
and are the "uncontrollable" to which companies adapt through setting the
"controllable" factors.

6. Innovation is the hallmark of Entrepreneurship. Why is innovation

referred as the basic function of an entrepreneur?
(2)
It is the basic function of an entrepreneur. As an innovator, the
entrepreneur has to introduce new combinations of the means of
production, new product, new market for a product and new sources of raw
material. They introduce something new in any branch of economic activity.
He/she foresees a potentially profitable opportunity and tries to exploit it.
7. Mark possesses entrepreneurial skills, who is not willing to take risk, but
prepared to develop good projects for his organization. How important his
contribution will be to his organization?
(2)

8. They are very shy and lazy. Identify and explain the type of
entrepreneur.

(2)

Fabian entrepreneurs
They are very cautious. They do not venture or take risks. They are rigid
and fundamental in their approach.
They follow the footsteps of their predecessors. They imitate only when
they are sure that failure to do so would result in a loss of the relative
position in the enterprise.
9. Departments goal leads to the execution of successful business plan.
Justify the statement.
(2)
The key to a successful execution is alignment. Strategy, people, and
work processes need to be effectively linked. The strategic plan must be
understood by the entire organization, the right people need to be in the
right jobs to allow for maximum work performance, and action plans must
be developed, implemented, and reviewed.
10. Define traditional markets.

(2)

The concept of a traditional market corresponds to the early production

phase when there was a general scarcity of manufactured goods in the
market. The phase of 'pre-industrial revolution' world was characterized by
an agriculture-cum-handicraft economy, with no elaborate distribution
system. The agriculturist, whether he produced corn or cotton, meat or
butter disposed of the surplus in his immediate neighborhood.
11. Innovations lead to entrepreneurial ventures. Justify it by giving three
examples?
(3)
12. You intend to start a service organisation at your locality what will be your
commercial function and explain any two of it?
(3)
Commercial Functions
Production
Finance
Marketing
Personnel
Accounting

13. Do you agree that an entrepreneur is called as an agent of progress in the

society? Justify your view by discussing any three points.
(3)

14. Why is systematic planning a must for an entrepreneur?

(3)

Every entrepreneur has limited resources in terms of time, finance, and

manpower. They invest their lifes saving and total energy in creating
entrepreneurial ventures and cannot afford to lose or waste these. Before
putting the whole enterprise into operation, he is required to develop a
detailed blueprint.

15. The thoughts feelings and tendencies to behave are acquired gradually. In
the light of this statement describe the sources of attitudes.
(3)
16. Do you think that business plan serves any purpose for an entrepreneur?
Support your view.
(3)
17. Performing sellers sustain and succeed in the market. How?

(3)

18. Highlight the pros and cons of Entrepreneurship.

(4)

19. Explain the types of feasibility study.

(4)

20. Being a seasoned entrepreneur, decides to start a petroleum refinery what

type of external risk you will face. Explain.
(4)
21. What role is played by marketing research?

(4)

22. Explain any eight essential attitude of an entrepreneur.

(6)

23. Do you think that E-Business is creating great opportunities to the

developing countries? Give reasons.

(6)

24. Rachel decides to start high end fashion designing store at her locality what
kind of market factors or forces she can control? Explain.
(6)