MCQExams
0:0:1
CBSE
JEE
NTSE
NEET
Practice
Homework
×
CBSE Questions for Class 11 Commerce Business Studies Small Business And Entrepreneurship Quiz 7 - MCQExams.com
CBSE
Class 11 Commerce Business Studies
Small Business And Entrepreneurship
Quiz 7
Key elements of entrepreneurship :
I. Innovation
II. Risk taking
III. Good looking
IV. Vision
V. Social help to needy people
VI. Organizing skills
Select the correct answer from the options given below
Report Question
0%
I, III, VI
0%
I, II, III, VI
0%
I, II, III, V, VI
0%
I, II, IV, VI
Explanation
To be an Entrepreneur is a challenge in itself. It needs to have some important characteristics to be a successful entrepreneur. The traits are:-
1. Risk Taker
2. Innovator.
3. Motivator.
4. Capital provider
5. profit maker
6.Challenge Taker.
These are the common characteristic a person needs to have to be an entrepreneur.
Which of the following is a characteristic of intrapreneurship?
X. Intrapreneurship is a risk taking factor, which is responsible for the end result in the form of profit or loss
Y. It cultivates entrepreneurial skills
Z. Its followers are called managers.
Report Question
0%
X and Y
0%
Y and Z
0%
X and Z
0%
X, Y and Z
Explanation
Key characteristics of an Intrapreneur:
1) Intrapreneurship is a novel way of making organizations more profitable where imaginative
employees entertain entrepreneurial thoughts.
2) An intrapreneur thinks like an entrepreneur looking out for opportunities, which profit the organization.
3) It is in the interest of an organization to encourage intrapreneurs.
4) Intrapreneurship is a significant method for companies to reinvent themselves and improve
performance.
5) In intrapreneurship there is backing from the headquarters so there is less chances of failure.
6) Intrapreneurs create wealth for Company
7) Intrapreneurs are responsible for keeping companies current.
Hence, option B is correct.
_______ viewed entrepreneurship as a force of "creative destruction".
Report Question
0%
John Schumpeter
0%
Joseph Schumpeter
0%
Peter Drucker
0%
Dr Marshal
Explanation
Schumpter viewed entrepreneurship as a force of "creative Destruction". The entrepreneurs carry out "new combinations", thereby helping render old industries obsolete. Established ways of doing business are taken over by innovations and new ideas.
Which of the following is characteristic(s) of an entrepreneur?
Report Question
0%
Entrepreneur must have creative thinking and must be able to analyze problems and situations.
0%
He should guard his business secrets from his competitors.
0%
He must have clear objectives as to the exact nature of business or the nature of goods
0%
All of above
Explanation
Some characteristics that an entrepreneur needs to have are:-
1. Mental ability:- to have creative thinking and must be able to analyse situations and problems.
2. Business Secrecy:- he should protect his business secrets from his competitors.
3. Clear objectives:- must have a clear objectives of what to be pursued in the future.
4,. Communication ability:- should poses a good communication ability and skills.
5. Human Relation:- he must maintain good relation with suppliers,customers,employees etc.
Which of the following characteristic(s) of an entrepreneur?
Report Question
0%
He must maintain good relations with his customers, employees etc
0%
He should have good communication skills
0%
He should guard his business secrets from his competitors
0%
All of above
Explanation
Some characteristics that an entrepreneur needs to have are:-
1. Mental ability:- to have creative thinking and must be able to analyse situations and problems.
2. Business Secrecy:- he should protect his business secrets from his competitors.
3. Clear objectives:- must have a clear objectives of what to be pursued in the future.
4,. Communication ability:- should poses a good communication ability and skills.
5. Human Relation:- he must maintain good relation with suppliers,customers,employees etc.
Key elements(s) of entrepreneurship:
I. Innovation
II. Risk taking
III. Good looking
IV. Vision
V. Social help to needy people
VI. Organization skills
Report Question
0%
I, III, VI
0%
I, II, III, VI
0%
I, II, III, V, VI
0%
I, II, IV, VI
Explanation
Some of the key elements of entrepreneurship are;-
1. Innovative:- a person needs to be innovative to be an entrepreneur.
2. Risk taking:- a person must be able to undertake risk to be an entrepreneur.
3. Vision:- to be successful or scan the working environment one needs to have vision.
4. Organizing skills:- a person must posses organising skills.
Hence, D is the correct option.
Research indicated that most successful entrepreneurs share certain personal attibutes, including:
Report Question
0%
Leadership
0%
Passion
0%
Self-confidence
0%
All of above
Explanation
An entrepreneur in order to be successful should possess some personal characteristics apart from the business idea he poses or the amount of capital he has to invest.
5 important personal traits are identified that an entrepreneur needs to poses. They are:-
1. Passion to do something;
2. Motivation/ determination to excel;
3. Creativity to think differently;
4. Dedication to what they do;
5. Risk-taker.
___ has rightly been identified with the individual, as success of enterprise depends upon imagination, vision, innovativeness and risk taking.
Report Question
0%
Salesmanship
0%
Entrepreneurship
0%
Intrapreneurship
0%
Any of above
Explanation
Entrepreneurship means setting up a business with some innovative ideas and creative thinking by assuming financial and other risks. The process by which individuals pursue opportunities without regard to resources they currently control. entrepreneurship has rightly been identified with the individual, as the success of an enterprise depends upon imagination, vision, innovativeness, and risk-taking.
According to ___ 'the entrepreneurship is essentially a creative activity or it is an innovative function."
Report Question
0%
Schumpeter
0%
Joseph Schumpeter
0%
Peter Drucker
0%
Dr. Marshal
Explanation
In the 20th Century, economist Joseph Schumpeter focused on how the entrepreneur's drive for innovation and improvement creates upheaval and change.
Established ways of doing business have been transformed by the creation of new and better ideas. According to him, "Entrepreneurship is essentially a creative activity or it is an innovative function".
Which of the following is characteristics of an entrepreneur?
Report Question
0%
He must maintain good relations with his customers, employees etc
0%
He should have good communication skills
0%
He should guard his business secrets from his competitors
0%
All of above
Explanation
Some characteristics that an entrepreneur needs to have are:-
1. Mental ability:- to have creative thinking and must be able to analyse situations and problems.
2. Business Secrecy:- he should protect his business secrets from his competitors.
3. Clear objectives:- must have a clear objectives of what to be pursued in the future.
4,. Communication ability:- should poses a good communication ability and skills.
5. Human Relation:- he must maintain good relation with suppliers,customers,employees etc.
Key element(s) of entrepreneurship: _____________
I. Innovation
II. Risk taking
III. Good looking
IV. Vision
V. Social help to needy people
VI. Organizing skills
Select the correct answer from the options given below:
Report Question
0%
I, III, VI
0%
I, II, III, VI
0%
I, II, III, V, VI
0%
I, II, IV, VI
Explanation
Some of the key elements of entrepreneurship are;-
1. Innovative:- a person needs to be innovative to be an entrepreneur.
2. Risk-taking:- a person must be able to undertake risks to be an entrepreneur.
3. Vision:- to be successful or scan the working environment one needs to have a vision.
4. Organizing skills:- a person must possess organizing skills.
___________should prevail over realism.
Report Question
0%
Optimism
0%
Pessimism
0%
Optimism or pessimism
0%
Optimism and pessimism
Explanation
Optimism means being hopeful and confidence about the future or success of something.
Entrepreneurship is characterized by the following features viz _______.
Report Question
0%
essence of entrepreneurship is the willingness to assume risk arising out of the creation and implementation of new ideas
0%
entrepreneurship involves a continuous search for new ideas
0%
entrepreneurship is a process, a journey, not the destination; a means, not an end
0%
all of the above
Explanation
Entrepreneurship is the process of developing some new process, business,ideas from the existing one by applying skills and potentials. It is characterized by the following features:- entrepreneurship is a process, a journey, not the destination; a means, not an end, it involves a continuous search for new ideas and the essence of entrepreneurship is the willingness to assume risk out of the creation and implementation of new ideas.
__________must find, evaluate, and develop an opportunity by overcoming the forces that resist the creation of
something new.
Report Question
0%
An entrepreneur
0%
An intrapreneur
0%
A businessman
0%
An innovation leader
Explanation
An entrepreneur is the person who by applying his skills and knowledge and by overcoming risks brings something new in to existence. An entrepreneur must find,evaluate and develop an opportunity by overcoming the forces that resists the creation of something new.
Which of the following, entrepreneurship does not offer ___________.
Report Question
0%
Independence and freedom
0%
Recognition
0%
Opportunity of being own boss
0%
Less income
Explanation
Entrepreneurship is the process of bringing something new in to existence. Being an entrepreneur offers the freedom to do something of own, to be your own boss and to take decisions independently. It also helps in gaining recognition and fame.
___ is the most common type of entrepreneur. He likes innovation and enjoys working on something new keeping in view the ideas that are formulated by him in order to pursue his innovation.
Report Question
0%
The hard workers entrepreneur
0%
The optimizer entrepreneur
0%
The idealist entrepreneur
0%
Sustainer type of entrepreneurs
Explanation
Idealist entrepreneur is the most common type of entrepreneur. He/she likes innovation and enjoys working on something new or doing something creative or meaningful. They are the person who put up their skills for achieving something unique.
__________ assesses how easily suppliers may drive up prices.
Report Question
0%
Supplier Power
0%
Customer Power
0%
Company Power
0%
Industry Power
Explanation
In Porter's five forces model, supplier power refers to the pressure suppliers can exert on business by raising prices, lowering quality, or reducing availability of products.
The man to coin the word 'Intrapreneur':
Report Question
0%
Thomas Malthus
0%
Gifford Bentinck
0%
Gifford Pinchot
0%
Thomas Pogge
Explanation
Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. Gifford Pinchot is the author of the 1985 book entitled intrapreneuring.
_________is the one to go through minimum income risk.
Report Question
0%
Manager
0%
Entrepreneur
0%
Both a and b
0%
None of them
Explanation
A manager is an employee in any organization and does not take any risk related to the business. He is faced with minimum income risk as he/she is eligible for salary which is usually fixed and does not depend on any risk.
Which of the following is not the characteristics of entrepreneurship?
Report Question
0%
Innovation
0%
Organising skills
0%
Indifference approach
0%
Risk-taking
Explanation
To be an Entrepreneur is a challenge in itself. It needs to have some important characteristics to be a successful entrepreneur. The traits are:-
1. Risk Taker
2. Innovator.
3. Motivator.
4. Capital provider
5. profit maker
6. Challenge Taker.
These are the common characteristics a person needs to have to be an entrepreneur.
Hence, C is the correct option.
0:0:1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
0
Answered
0
Not Answered
0
Not Visited
Correct : 0
Incorrect : 0
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Practice Class 11 Commerce Business Studies Quiz Questions and Answers
<
>
Support mcqexams.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page
