Entrepreneurship And Innovation - Study Mode

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[#211] Arrange the following five steps of small business development in the order in which they shall occur 1. Survival 2. Success 3. Existence 4. Resource Maturity 5. Take off

(A) 3, 1, 2, 5 and 4

(B) 3, 2, 1, 4 and 5

(C) 2, 3, 4, 1, and 5

(D) 3, 2, 1, 5 and 4

Correct Answer

(A) 3, 1, 2, 5 and 4

[#212] Who plays an important role in the success of products and services and in increasing the marketing share of the firm in business?

(A) Functional level managers

(B) Corporate level managers

(C) Business level managers

(D) All of the above

Correct Answer

(D) All of the above

[#213] Match the following List-I (Authors) List-II (Statement) a. F. G. Moore 1. Any arrangement of a machine and facilities is a layout just as any house plan is a plan b. M. E. Hurley 2. Plant layout involves the development of physical relationships of among building, equipment and production operations which enables the manufacturing process to be carried efficiently c. R. C. Davis 3. Plant lay-out may be defined as the work of planning and organisation the physical conditions and relationship between plant, equipment and operations that will make possible a satisfactory degree of manufacturing economy and effectiveness d. George R. Terry 4. Plant lay-out is the arrangement of machines work areas and service areas within a factory

(A) a-1, b-4, c-3, d-2

(B) a-3, b-2, c-4, d-1

(C) a-1, b-2, c-3, d-4

(D) a-3, b-1, c-2, d-4

Correct Answer

(C) a-1, b-2, c-3, d-4

[#214] Entrepreneurial Judo strategy aims at which one of the following?

(A) Filling holes left by others in the industry

(B) Developing effectiveness in the industry

(C) Mobilising finance and effectiveuse to reduce NPAs

(D) Creating competitive environment in the environment of SMMEs

Correct Answer

(A) Filling holes left by others in the industry

[#215] Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R) . Read the statements and choose the correct answer. Assertion (A) Entrepreneurial innovation and experimentation constantly destroy the old and introduce new equilibria, making possible higher standards of living. Reason (R) Markets do not passively tend towards equilibrium until profit margtns are wiped out.

(A) Both (A) and (R) are correct and (R) is the correct explanation of (A)

(B) Both (A) and (R) are correct, but (R) is not correct explanation of (A)

(C) (A) is correct, but (R) is incorrect

(D) Both (A) and (R) are incorrect

Correct Answer

(A) Both (A) and (R) are correct and (R) is the correct explanation of (A)