Question 1. Explain the
concept of entrepreneurship with the help of a diagram.
The Concept of Entrepreneurship
An entrepreneur is an individual person or a group of persons who take initiative, have the skill for
innovation and bear risk, put up a new viable project that creates wealth and
provides employment opportunity, and leads to growth of all sectors of an
economy. He/she performs various activities by adopting a process of action
called entrepreneurship and carries out creative innovation for fulfilling his
objectives. Hence, the process/steps of entrepreneurship are creative,
innovative, and objective-oriented. The entrepreneur is one who provides a factor of
production responsible for setting up a business/enterprise. As the fourth
factor, he organizes, manages, utilizes, and controls all factors of production
(resources) like land, labor, capital, raw-materials machinery, energy, and
space. Enterprise is an organization of structure, rules policies, culture, and
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Question 2. How an enterprise gives benefit society, the country, and an entrepreneur?
Question 3: Explain and discuss the “dark side” of entrepreneurship.
Question 4: Name the sources of entrepreneurial stress and discuss the ways of dealing with stress.
Question 5: Define ethics and discuss some conflicts over the ethical nature of decisions.
Question 6: How does an entrepreneur stimulate the economy?
Question 7: Procedure or steps for starting up a small-scale business?
Q. 8: What are the Techniques for generating an idea?
Q. 9: Define business plan. Explain the steps/ procedure/ guidelines for writing a business plan?
Q. 10: Define a business plan and reasons for writing a business plan?
Q. 11: Write the types of the business plans?
Question 12: What are the common Myths (misconceptions) about Entrepreneurs?
Question 13: Describe the common Pathways that an entrepreneur chooses for purchasing a business venture?
Q. 14 what are the basic steps for Acquiring an established entrepreneurial venture?
Q. 15: What are the Sources of Innovation?
Question 16: Discuss the approaches to Entrepreneurship.
Question 17: What is Environmental Scanning?
Question 18: Explain three major reasons why new ventures fail.
Question 19: List and describe three pitfalls in selecting a new venture.
Question 20: What are three critical factors in a new venture assessment?
Question 21: What are the five specific feasibility phases that a new venture will go through?
Question 22: What sorts of legal issues can be overlooked when assessing an entrepreneurial opportunity?
Question 23: What is a business opportunity?
Question 24: Describe the elements of a business opportunity.
Question 25: Briefly explain the new-old approach to creating new ventures.
Question 26: What is the role of business brokers in acquiring an established entrepreneurial venture?
Question 27: Why did the Federal Trade Commission enact the Franchise Rule?
Question 28: What do you know about Business Plan?
Question 29: Who should write the plan?
Question 30: Discuss the Importance of the business plan.
Question 31: Define Marketing Strategy. What does the Marketing strategy of a company include?
Question 32: Define Marketing Mix. What are the components of the Marketing Mix?
Question 33: Define Entrepreneurial strategy. Describe the entrepreneurial strategy process. What are the four major elements of the process and what does each entail?
Question 35: Brieﬂy identifies and describes the stages of development for a new venture.
Question 37: Define Entrepreneur. Give a note on the Entrepreneurial Process.
Question 38: Define Entrepreneur. What are essential Qualities required for an entrepreneur?
Question 39: Define Entrepreneurship. Discuss factors that are affecting Entrepreneurship: