Entrepreneurship Development Unit I Quiz

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What is the importance of the growth of entrepreneurial activities?

The growth of entrepreneurial activities brings new employment opportunities and contributes to the growth and development of a nation.

According to Warren Buffett, why are entrepreneurs considered essential?

Entrepreneurs are considered essential because they have the potential to transform the way we live and work through their innovative ventures.

What is Entrepreneurship Development concerned with?

Entrepreneurship Development is concerned with assisting budding entrepreneurs to boost their skills and abilities to become proficient in handling their businesses.

Name one theory of entrepreneurship and its proponent.

Innovation Theory by Schumpeter Signup and view all the answers

What are some characteristics and qualities of an entrepreneur?

Some characteristics of an entrepreneur include being innovative, risk-taking, and resilient. Signup and view all the answers

How do external influences impact Entrepreneurship Development?

External influences such as socio-cultural, political, economic factors, and personal attributes play a role in shaping entrepreneurial culture. Signup and view all the answers

What was the main objective of the experiment conducted in the text?

To break the barrier of limited aspirations by inducing achievement motivation. Signup and view all the answers

How were the participants grouped during the training programme?

They were grouped into three batches. Signup and view all the answers

What was included in the syllabi of the training programme to help improve the trainees' motivation?

<ol> <li>Concrete and regular feedback, 2) Models of achievement to emulate, 3) Setting plans and goals based on success, 4) Encouragement to think and talk to themselves positively.</li> </ol> Signup and view all the answers

How was the impact of the training programme on participants' behavior assessed?

The impact was observed after a period of two years. Signup and view all the answers

How was the participants' need for achievement assessed during the training programme?

By using the Thematic Apperception Test (TAT). Signup and view all the answers

What method was used to assess the participants' need for achievement in the training programme?

Thematic Apperception Test (TAT) with ambition-related pictures. Signup and view all the answers

How did McClelland conclude that the training programme positively influenced the entrepreneurial behavior of the participants?

By counting all themes related to achievement and determining one's need for achievement Signup and view all the answers

What role do traditional beliefs and imitation of western culture play in determining one's behavior as an entrepreneur?

They do not determine one's behavior as an entrepreneur Signup and view all the answers

How can the need for achievement motivation be developed, especially in younger minds?

Through cross-country experiments and programs like 'Junior Achievement Programme' and 'Young Enterprise' Signup and view all the answers

What is the objective of the 'Junior Achievement Programme' in the United States of America?

To instill achievement motivation in the minds of the younger generation Signup and view all the answers

In the United Kingdom, what is the purpose of the 'Young Enterprise' program?

To induce achievement motivation in younger minds Signup and view all the answers

How have the experiments/programs focusing on achievement motivation impacted the development of entrepreneurship?

Efforts have been made to develop a school curriculum that fosters a high need for achievement among students Signup and view all the answers

What is the role of the need for achievement (N-Ach) in promoting entrepreneurship?

N-Ach promotes entrepreneurship by fostering a drive to excel, advance, and grow. Signup and view all the answers

How does McClelland describe the three types of needs acquired through life experiences?

The three types of needs are: Need for Achievement, Need for Power, and Need for Affiliation. Signup and view all the answers

What did McClelland find regarding societies that possess a high level of N-ach?

Societies with high N-ach levels tend to have higher levels of economic well-being. Signup and view all the answers

What are the five major components of the N-ach trait according to McClelland?

(a) Responsibility for problem solving, (b) Setting goals, (c) Reaching goals through one's own effort, (d) Need for and use of feedback, (e) Preference for moderate risk-taking. Signup and view all the answers

How does McClelland suggest middle childhood experiences impact the development of N-ach?

Middle childhood experiences shape N-ach through family socialization practices emphasizing excellence, self-reliance, and low father dominance. Signup and view all the answers

What is the significance of the Thematic Apperception Test in assessing achievement motivation?

The Thematic Apperception Test is used to assess achievement motivation by analyzing individuals' responses to ambiguous images. Signup and view all the answers