Entrepreneurial Business Training Quiz

What is one of the challenges associated with the theory of systematic innovation?

Innovations are too predictable
Lack of opportunities in the environment
Entrepreneurial motives are not considered
Reliability and predictability of sources (correct)

What is the main focus of the Entrepreneurial Development Programme (EDP) as described in the text?

Promoting theoretical frameworks
Encouraging reliance solely on scientific knowledge
Strengthening entrepreneurial motives (correct)
Avoiding risks associated with entrepreneurship

Why is new scientific knowledge highlighted as not the most reliable source of successful innovations?

It may not always lead to successful innovations (correct)
It is too predictable
It is not applicable to entrepreneurship
It is difficult to access

What does the theory of systematic innovation require the entrepreneur to do?

Coordinate changes with available opportunities (D) Signup and view all the answers

What makes the view from the center of each window distinct and different?

Features unique to that window (A) Signup and view all the answers

What is the main purpose of an Entrepreneurial Development Programme (EDP) according to the text?

Acquiring necessary skills for entrepreneurship (B) Signup and view all the answers

What is the main function of an Entrepreneurship Development Programme (EDP)?

Imparting training and guiding future entrepreneurs (C) Signup and view all the answers

What is the purpose of the Post-Training Phase in an EDP?

Providing post-training assistance to successful candidates (C) Signup and view all the answers

What is the normal duration of an Entrepreneurship Development Programme (EDP)?

4-6 weeks (D) Signup and view all the answers

What is one of the activities related to the Training Phase of an EDP?

Contacting guest faculties for training sessions (C) Signup and view all the answers

Why is the Post-Training Phase considered important?

To provide post-training assistance due to business hardships (A) Signup and view all the answers

What is a common misconception among trainees according to the text?

Lack of information about programme changes (B) Signup and view all the answers

What distinguishes innovational profit from other incomes according to Schumpeter?

It is a temporary surplus resulting from innovation (D) Signup and view all the answers

According to Schumpeter, what is the real function of the entrepreneur?

Introducing innovations in business (A) Signup and view all the answers

What criticism does Schumpeter's theory face regarding risk-taking and profit?

Profit is not considered as the reward for risk-taking in this theory (D) Signup and view all the answers

What factor determining profit has Schumpeter's theory ignored?

Uncertainty bearing (A) Signup and view all the answers

What is one of the key focuses of Entrepreneurial Development Programmes (EDP)?

Creating employment opportunities (D) Signup and view all the answers

What does the text suggest about the localization and development of business and industries?

New industries are established in already well-developed areas (C) Signup and view all the answers

Why is selling goods considered difficult in the present age according to the text?

Lack of market information (D) Signup and view all the answers

Which aspect of business balance is highlighted in Entrepreneurial Development Programmes (EDP)?

Balancing components of the business (C) Signup and view all the answers

What is a primary purpose of Entrepreneurial Development Programmes (EDP) according to the text?

Generating employment opportunities (A) Signup and view all the answers

Why do Entrepreneurial Development Programmes (EDP) aim to develop in all parts of the country?

To ensure industrial growth across all regions (B) Signup and view all the answers

What is one of the main benefits of Entrepreneurship Development Programs (EDPs) mentioned in the text?

Increasing job opportunities through self-employment (B) Signup and view all the answers

How do Entrepreneurship Development Programs (EDPs) contribute to the local economy?

By guiding entrepreneurs to efficiently utilize local resources (C) Signup and view all the answers

What is one of the outcomes of entrepreneurs organizing factors of production effectively?

Increased per capita income (B) Signup and view all the answers

Why is it important for entrepreneurs to utilize local resources efficiently according to the text?

To develop the region at minimal cost (D) Signup and view all the answers

How do Entrepreneurship Development Programs (EDPs) contribute to improving the standard of living?

By providing innovative methods and technologies to entrepreneurs (A) Signup and view all the answers

Which group is primarily targeted by Entrepreneurship Development Programs (EDPs) according to the text?

Individuals looking to establish their own business (A) Signup and view all the answers