Questions and Answers
Which of the following describes a rural entrepreneur?
A corporate entrepreneur operates their business under a legally registered company.
True
What is the minimum percentage of ownership for an enterprise to be classified as a women-owned business according to the Government of India?
51%
According to the Kkhadi and Village Industry Commission, a rural industry is one that produces goods in areas with a population not exceeding ______.
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Match the following roles of entrepreneurs with their corresponding terms:
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Which of the following best represents the relationship between entrepreneurs and entrepreneurship?
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An organization can be represented as one of the relationship terms associated with entrepreneurship.
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What is a key characteristic of a village or rural industry as defined by KVIC?
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Which type of entrepreneur is characterized by caution and skepticism towards change?
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Drone entrepreneurs are known for embracing new technologies and innovative practices.
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What classification does Arthur H Cole suggest for entrepreneurs?
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A __________ entrepreneur introduces changes that reflect a complete break from the existing scheme of enterprise.
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What distinguishes large scale entrepreneurs from small scale entrepreneurs?
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Match the types of entrepreneurs with their characteristics:
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Empirical entrepreneurs are known for their revolutionary ideas and innovations.
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What do drone entrepreneurs feel about their traditional business methods?
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Who established the first iron and steel industry with the help of 'swadeshi contribution'?
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The swadeshi movement led to a decline in indigenous entrepreneurship in India.
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Which communities played a significant role in the emergence of indigenous entrepreneurship in India?
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The Marwaris controlled only ______ companies before independence.
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Match the following entrepreneurial figures with their contributions:
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What was the main focus of the post-independence industrial policy in India?
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What was one of the main goals of the state government regarding industrialization?
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The Monopolies Inquiry Commission in 1964 reported that Marwaris controlled 10 large industrial houses out of 37.
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How many directorships did Marwaris have by 1951?
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The government of Uttar Pradesh developed NOIDA before focusing on the eastern region.
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Name two locations where industrial estates were developed in eastern Uttar Pradesh.
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Gurgaon is now considered a leading ______ of the country.
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Match the following locations with their industrial status:
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What was lacking in eastern UP and Jharkhand that hindered entrepreneurship?
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Incentives alone were sufficient for entrepreneurship to flourish in industrially backward regions.
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What raw materials were specifically mentioned as resources for the small scale units?
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What does the term 'motivation' primarily refer to?
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Assertive individuals lack confidence in communicating their ideas.
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What term describes the relationship between the interests of workers and management?
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Motivation is derived from the Latin word '______'.
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Match the concepts with their definitions:
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According to Mcfarland, what does motivation explain?
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Top performers do not monitor employee performance regularly.
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What is a key factor that contributes to the future success of an organization?
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Study Notes
Types of Entrepreneurs
- Imitative entrepreneurs in underdeveloped countries adapt production methods from developed nations.
- Fabian entrepreneurs are cautious and skeptical, imitating changes only when necessary to maintain position.
- Drone entrepreneurs cling to traditional technologies and practices, resisting modern changes despite lower returns.
Arthur H Cole Classification
- Empirical entrepreneurs rely on established practices, avoiding revolutionary changes.
- Rational entrepreneurs stay informed about economic conditions and implement significant changes.
- Cognitive entrepreneurs leverage expert advice, introducing transformative changes that break from existing enterprise practices.
Classification Based on Scale of Enterprise
- Small-scale entrepreneurs often lack the capabilities for large-scale production and revolutionary technology.
- Large-scale entrepreneurs have the resources, talent, and R&D facilities to implement technological advancements.
Other Types of Entrepreneurs
- Corporate entrepreneurs operate within legally registered companies or trusts.
- Rural entrepreneurs focus on industries in rural areas, specifically khadi and village industries.
- Women entrepreneurs are defined as those owning at least 51% of their enterprise and employing at least 51% women.
Relationship Between Entrepreneurs and Entrepreneurship
- Entrepreneurs are producers, while entrepreneurship is the production process.
- Entrepreneurs are organizers, with entrepreneurship reflecting organization.
- Entrepreneurs innovate and bear risks; entrepreneurship involves innovation and risk-bearing.
- Entrepreneurs motivate, create, lead, imitate, visualize, plan, and invest, complementing the entrepreneurial process.
Historical Context of Entrepreneurship
- Industrialization efforts in underdeveloped regions were supported by government incentives, leading to the establishment of small-scale units.
- Indigenous entrepreneurship grew from initiatives like the Swadeshi movement, promoting local goods and manufacturing prior to India’s independence.
- Post-independence, rapid industrialization saw increased investments from the Marwari community, growing from 6 companies to 618 directorships within a few decades, dominating several industries.
Theories of Entrepreneurship
- Entrepreneurship theories stem from various disciplines, highlighting its complexity rather than fitting into a single category.
- Successful entrepreneurs treat problems as challenges, developing strategies to address them.
Characteristics of Effective Entrepreneurs
- Assertive entrepreneurs communicate effectively, aligning their team with organizational goals.
- Top performers monitor operations closely to ensure alignment with organizational objectives.
- Fostering employee welfare and well-being is essential for organizational success, promoting interdependence between management and employees.
Understanding Motivation
- Motivation arises from internal drives that influence behaviors aiming to satisfy personal and societal needs.
- The term motivation comes from the Latin “Motive,” representing the mental state that directs behavior towards goals.
- According to McFarland, motivation encompasses the forces that guide human behavior, including urges and aspirations.
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Description
This quiz explores various types of entrepreneurs, focusing on their characteristics and suitability for different economic environments. It highlights the Fabian entrepreneur, known for their cautious approach and tendency to imitate successful production methods. Understand the nuances that distinguish each entrepreneurial style and their impact on development.
