NAME: HARSHIL BHATIA
SYBMS: B
ROLL NO: 152
Subject: BPEM
1] What do you mean by entrepreneur? How it
is different from businessman?
ANS: The word entrepreneur is derived from the French
word “entreprenerd”. It means to undertake. An
entrepreneur is a person who bear risk and uncertainties in
business. The venture established by entrepreneur is known
as startup company. Which is formed the very first time
regarding the idea or innovation.
Definition: joseph a. Schumpeter
“The entrepreneur in advance economy is an individual who
introduce something new in economy, a method of
production is not been tested by experience by branch of
manufacture concerned, a product with which consumers are
not yet familiar”
The following are the difference between ENTREPRENEUR
AND BUSINESSMAN
1] A person who brings his unique ideas to startup copany is
known as entrepreneur
A businessman is person who starts a business with old
ideas
2] A businessman makes his place in market with his efforts
and dedication, whereas entrepreneur creates the market for
his own business.
3]the nature of businessman is calculative, whereas
entrepreneur is intuitive.
4]The businessman is market player where as entrepreneur is
market leader.
2]WHAT ARE DIFFERENT TYPES OF
ENTREPRENEUR AND HOW THEY WORK?
ANS: Entrepreneur are found in every economic system and
in every form of economic activity as well as in other social
and cultural activity. Some of different type of entrepreneur
are:
A] entrepreneur according to the type of
business
1] BUSINESS ENTREPRENEUR: these are individual who
conceive and idea for new project then create business into
reality. they tap both production and marketing resource to a
new business opportunity.
2] TRADING ENTREPRENEUR: Trading entrepreneur does not
include manufacturing work, he only undertakes trading
activity.
3] INDUSTRIAL ENTREPRENEUR: an industrial entrepreneur is
a product oriented man who starts industrial unit for making
some new products.
4] CORPORATE ENTREPRENEUR: a corporate undertaking is a
form of business organisation which is registered under act
and legal entity. He is the individual who plans and manages
corporate body.
5] AGRICULTURAL ENTREPRENEUR: these entrepreneurs
undertake agricultural activities such as raising and marketing
crop, the government motivates and encourage then to
undertake agricultural activity.
B] ENTREPRENEUR ACC. TO USE OF
TECHNOLOGY
1] TECHNICAL ENTREPENEUR: HE is as good as craftsmen.
Because of his craftsman ship he develops quality goods. he is
concerned on production and not on marketing.
2] NON-TECHNICAL ENTREPRENEUR: HE IS ONLY CONCERNED
WITH DEVELOPING ALTERNATIVE MARKETING AND
DISTRIBUTING STRATEGIES IN ORDER TO PROMOTE THEIR
BUSINESS.
3] PROFESSIONAL ENTREPRENEUR: he is the person who
establish a business and sell out running business and start
another venture with another procced.
C] ENTREPRENEUR ACC. TO GROWTH
1] GROWTH ENTREPRENEUR: growth entrepreneur are those
takeup high growth industry with prospect for substancial
growth.
2] SUPER GROWTH ENTREPRENEUR: Shows enormous growth
performance in the venture.
3] DEFINE ENTREPRENEURSHIP AND
EXPLAIN ITS ADVANTAGE.
ANS. 1] ACC. To A.H. COLE: “ Entrepreneurship is a
purposeful activity of an individual or groups, undertake to
initiate, maintain profit by production or distribution of goods
and services.”
2] ACC. TO PETER P. DUCKER: entrepreneurship is neither an
art or science its is practice. it is knowledge based. Knowledge
in entrepreneurship is means to an end that is by practise”
Advantage of entrepreneurship are as follows
1. They gets to discover what they really are.
2. There are fewer restriction to worry in world of
entrepreneur.
3. They can choose to pursue any idea they want.
4. They are innovators of their industry.
5. Everyday is exciting in the world of entrepreneur.
4] what are different dimension involved in
entrepreneurship? Give eg.
Ans: entrepreneurship is a very broad concept. The
description of entrepreneurship can be redefined
1]STRATEGIC ORIENTATION: this is good dimension. It
becomes clear that definition of entrepreneurship is not
sufficient. They should create opportunity and grab it.
Commitment of trustee is time consuming.
2]COMMITMENT OF RESOURSE: it is multi-staged
commitment with minimum requirement of resources at each
crucial stage. It is attempt to create maximum value by
minimizing the set of resources.
3]RESOURSE CONTROL: entrepreneur must lean utilization of
resources by efficient manner. An organisation need a
specialized resource such as high-tech patent rights.
4]MANAGEMENT STRUCTURE: entrepreneurs must decide
management hierarchy. The promoter needs knowledge
which is direct contact as follows.
5]REWARD PHILOSOPHY: entrepreneurial companies are
different from management philosophy regarding
compensation and reward.
5] WHICH ARE DRIVING FORCES INVOLVED
IN CONTENT OF ENTREPRENEURSHIP.
ANS.1] push your limits
• There is no golden rule to be sussesful, which is why
successful have developed their empire on their own,
keep pushing the envelop of possibilities
• One who has built his house with his own hands has no
shame to dig and build walls
2] aim big
• Success is jouney and not destination, the dream has to
be big enough.
• They keep the lamp glowing till end.
3] learn from mistakes:
• In due course of trial and error one learns what is wrong.
• Try to learn from every mistake
4] be a man of action:
• It has been noticed that many startup doesnot successed
,they earn overnight and fall.
• Success is good servant but bad master,it makes up their
ego.
5] love your work:
• There are people who work 12-14 hrs to earn bread and
work somewhere they don’t love
• You live only once .
6] write down difference between
entrepreneur, intrapreneur, traditional
manager.
Ans.
entrepreneur intrapreneur Traditional
manager
1 primary
Opportunity to create money Ability to advance in
cooperate reward.
Promotion and related
cooperate reward.
motive
2 survival and achieving 5-10 Depending on urgency to Short term meeting with
time years goal. meet self imposed and weekly , monthly,
cooperative timetable quarterly basis.
orintation
Activity Direct involvement Direct involvement more than Delegates and
delegation involvement more than
direct involvement.
Risk Moderate risk taker Moderate risk taker Careful
Status Not concerned about status Not concerned about Corned about status
symbol traditional. symbol.
Decision Follows dreams with decision Able to get other to agree to Usually agress with upper
help management position
Who serves Self and customer Self and customer sponser Others
Relationship Transaction and deal making Transaction in heirarchy Hierarchy as basic
with others relationship.
7] WHAT DO YOU MEAN BY BUSINESS
ETHICS.
ANS. BUSINESS ETHICS IS A form of applied ethics that
examine ethical principle and moral that can arise business
environment.it applies to all aspects of business conduct and
is relevant to conduct of individual. These ethics originate
from individual. They help those business to maintain a better
connection.
Interest in business ethics accelerated dramatically during
1980s and 1990s both within major corporationwithin
acamadia, for eg most major corporation today promote their
commitment to non economic value under heading such as
ethics codes.
8] WHAT ARE FAIR AND UNFAIR PRACTICE
OF BUSINESS ETHICS.
ANS.1] FAIR BUSINESS PRACTICES:
➢ Investors ensure safety of money and timely payment of
interest.
➢ Employee provision of fair opportunity in promotion
➢ Competition unscurplous tactics and method should be
avoided while handling competitors
➢ Government rules and regulation regarding taxes, duties
and unlawful activity like corruption
➢ Environment polluting industries should ensure
compliance with government norms.
2]unfair business practice:
Unfair business practise encompass fraud, misrepresentation
and prohibited by law in many countries. unfair business
practice may rise in many areas include:
➢ Tenancy matters
➢ Matters involving advertising and sale of product and
service
➢ Matters involving insurance claim
➢ Debt collection in case of default
9] what do you mean by workplace ethics?
What are their benefits?
Ans.
Workplace ethics are set of value, moral and standard
that need to be followed by both employer and
employee in work place. It is set of rules and regulation
that need to be followed by all staff. Following are the
benefits:
1. Attention to business ethics has substancially
Improved society
2. Ethics program help maintain modern problem
3. Ethic program cultivate strong teamwork
4. Ethics program support employee and meaning
5. Ethics program help ensure policies are legal
6. Ethics program promote strong public image
7. Ethic program help avoid criminal act
10]write down theory of entrepreneurship by
Schumpeter
Ans.
Joseph Schumpeter has done some pioneer work on
entrepreneurship according to him entrepreneurship is
creative of doing things that are not done in ordinary course
of business. An entrepreneur is innovator they are creative
and forensee the potentially opportunity and try to exploit it.
a) Introduction of new product of new quality of
existing product
b) Introduction of new method of production that is
not yet tested.
c) Opening of new market where it has not previously
entered
d) The conquest of new source of supply of raw
material
e) Creating a monopoly position or breaking a
monopoly position.
11] what are different factors favouring
entrepreneurship?
Ans.
Definition of entrepreneurship:
“It is a process of creating something different with value by
devoting necessary time and effort.
Assuming the accompanying financing, psychic, social risk and
receiving the resulting reward of monetary and personal
satisfaction and independence.
Innovation, new product, new method, new market new
market new sources of supply carries out a new
organisation innovation creativity entrepreneurship
exploiting profitable business opportunities:
❖ Growth of education- science technology and
management
❖ Developed infrastructural facilities
❖ Financing facilities
❖ Training facility
❖ Protective and promotional facilities
❖ globalization
12] WHAT IS ROLE OF ENTREPRENEUR IN
CULTURAL DEVELOPMENT?
ANS. Culture is relevant to all level of society. Culture is
about people, about their shared understanding across
cultural groups. As such it is not about individual and their
personal values, beliefs and personality.
Entrepreneurship is a process of doing something new and
something different for purpose of creating wealth for
individual and adding value to society.
The individual entrepreneur lives works and is to subject to
broader context to community, their society and global forces
including economy. When entrepreneur does something new
something innovative he or she challenges the accepted idea
of how things work around here. a culture that has history of
encouraging entrepreneurship and legitimizing entrepreneur
activity will further attract entrepreneurs.
13] what IS RELATIONSHIP BETWEEN
ENTREPRENEURSHIP AND ADMINISTRATIVE
CULTURE?
ANS. An entrepreneur starts and builds a business
enterprise. He is a leader of the company and chief executing
officer. An administrator is someone who manages a
department or functional area within a organisation. His job is
to complete the task assigned to him. An entrepreneur must
have administrative ability to perform task efficiently.
*Acceptance of risk
An entrepreneur a business venture accepts that it may not
succeed and hey may lose money.
An administrator is not an owner of company so its potential
failure affects only him.
*independence and team player
An entrepreneur is often motivated by desire to be his own
boss. the administrator has narrow scope
*generalist and specialist
An entrepreneur has better chance of success if he has
understanding of his business.
An administrator can be more narrowly focused for instance a
controller in large company doesnot need to have extensive
knowledge.
14] WHO IS INTRAPRENEUR AND WHAT IS
ITS RULES AND FUNCTION
ANS. An intrapreneur is an inside entrepreneur or
entrepreneur in large firm who uses entrepreneurial skills
without incurring the risk assosiated with those activities
Intrapreneur is usually the employee within a company who
are assigned to work on special ideas and they are instructed
Yo develop the project like entrepreneur would.
*there are many characteristics of intrapreneur:
1. Creates new venture- giving birth to new venture within
existing organisation
2. Innovates product/services- tendency toward
technological leadership by way of continual innovation.
3. Innovates process- under competitive business process
should be reinvented.
4. Proactive- intrapreneur attempt to lead rather than
follow
5. Risk taking-
6. Renews organisation-an intrapreneur is expected to
transform the organisation rhrough reneval of key ideas.
15] BASIC DIFFERENCE BETWEEN
INTRAPRENEUR AND ENTREPRENEUR
ANS.
entrepreneur Intrapreneur
Primary Independence and Independence and
motive opportunity to ability to advance
create money in cooperate world
Time Survival and Depends on
orientation achieving 5-10 yrs urgency to meet
self imposed and
coperte timetable
Failure and Deals with mistake Attempts to hide
mistakes and failure risky projects from
view until ready
Family Entrepreneurial Entrepreneurial
professional, small professional, small
business business
16] WRITE DOWN 10 COMMANDMENT OF
INTRAPRENEUR WITH PROPER EXAMPLE
ANS.
I. Come to work each day ready to be fired.
II. Circumvent any order aimed at stopping your dream.
III. Do any job needed to make your project work, regardless
of the job description.
IV. Find people help you.
V. Follow your intuition about the people you choose and
work only with best.
VI. Work underground as long as you can
VII. Never bet on race unless you are running it
VIII. Remember its easy to ass for forgiveness than
permission.
IX. Honour your sponsor
X. Express gratitude
17] DEFINE WOMEN ENTREPRENEUR AND
SEOT ANALYSIS RELATED TO WOMEN
ENTREPRENEUR
ANS.
The term ‘women entrepreneur” deals with that section of
Women entrepreneur may be defined as women or group of
women who initiate, organise and operate business
enterprise. Women are expected to innovate or adopt
economic activity.
WOMEN ENTREPRENEUR IS DEFINED AS “AN ENTERPRISE
OWNED AND CONTROLLED BY WOMEN HAVING MINIMUM
FINANCIAL INTEREST OF 51% OF EMPLOYMENT GENERATED
IN ENTERPRISE TO WOMEN”
STRENGTH WEAKNESSES
• TARGETING • WHERE
ENTREPRENEURIAL AND ENTREPRENEURSHIP
BUSINESS TRAINING EDUCATION EXISTS IT
AND COACHING IS MAINLY PROMOTES
AVAILABLE FOR FULL TIME
WOMEN EMPLOYMENT
• STARTUP ARE • TARGETED SUPPORT
GENERALLY ABLE TO FOR FEMALE
ACCESS A WIDE VARIETY ENTREPRENEUR IS NOT
OF FINANCIAL SUPPORT INTIGRATED INTO
• THE REGULATIVE MAINSTREAM SUPPORT
ENVIRONMENT IS AND FEMALE LIFE
GENERALLY CIRCUMSTANCE
SUPPORTIVE • THE EDUCATION
SYSTEM DOES LITTLE TO
ENCORAGE WOMEN
EDUCATION
OPPORTUNITIES THREATS
• SUPPORT FOR • WOMEN ARE UNDER
ENTREPRENEURSHIP REPRESENTED IN
EDUCATION IS
GROWING AND AS FINANCIAL INDUSTRY
RESULT MANY EU ITSELF.
INITIATIVE AND FUNDS
LEVEL TO SUPPORT
FURTHER
DEVELOPMENT.
18] DEFINE SOCIAL ENTREPRENEUR ,ROLE
AND IMP
ANS.
A social entrepreneur is a person who persues novel
application that have potential to solve community based
problems. These individual are willing to take risk and effort to
create positive changes in society through their initiatives.
Widespread use of ethical practice such as impact investing,
conscious consumerism and corporate social entrepreneurs.
Social entrepreneur play the role of change agent in sector
sector:
• Adopting a mission to create and sustain social value
• Recognizing and relentlessly pursuing new opportunities
to serve that mission
• and learning
• Acting boldly without being limited by resource currently
in hands
• Exhibiting a heightened sense of accountablility to
constituencies served and for the outcomes created
19] WHAT DO YOU MEAN BY SOCIAL
BENEFIT
ANS.
• Social benefits is the total benefit to society from
producing or consuming a good/service
• Social benefit include all the private benefits plus any
external benefits of production/consumption
• If a good has significant external benefits, then social
benefit will be greater than private benefit.
Example
I. Gym at work
II. Free books
III. Extended maternity and paternity leave
IV. Flexible holiday with paid trips
V. Cultural exchanges for children.
20] WRITE DOWN DIFFERENCE BETWEEN
ENTREPRENEUR AND SOCIAL
ENTREPRENEUR
ANS.
entrepreneur Social
entrepreneur
Goal Capture a market Fill a market gap,
securely change the world
Objective Build a business, Create sustainable
earn profit solution for social
Profit motive Maximize Profit as mean to
shareholder value financial
sustainability
Risk Basic business risk basic business risk
Link to social indirect Direct
problems
Growth competitive for Collaborate for
one company society impact
capital benefit from Contend with
robust financial unpredictable and
and managerial fragmented
service financing
21] WHAT ARE DIFFERENT THREATS AND
LIMITS ARISE FOR SOCIAL ENTREPRENEUR
AND HOW IT CAN BE SOLVED
ANS.THREATS:
• The impact of auterity
• Despite two third of charities seeing increasing demand
for their swevices between 2008 and 2014 small and
medium sized charities saw a fall in their income by
around 17%
• The ceos we spoke to explained that with many social
enterprises depending on public sector business local
authority cost cutting is causing real concern.
• Managing diversification
• The challenge posed by autertity has led many social
enterprise ceos to explore new business model and
diversification
• Increasing competition:
• With intense focus on prise at local authority level,
social enterprise are in more competitive environment
• Accessing finance
• The number of social organisation seeking finance for
working has risen from 28% in 2011 to 43% in 2015
• Collaboration:
• In the rapidly changing environment there is also a
growing desire for collaboration the harsh climate social
enterprise are working in is forcing many to partner with
other organisation.
• Retaining social purpose:
• With diversification collaboration and increasing
competition comes the potential for distraction. Many
will encounter difficulties in striking and maintaining
acore ethos
22] what is role of government in social
entrepreneur
Ans.
• Much social enterprise has occurred in countries with
national government with low level of state capacity to
address social problem. Yet little or no social change
caused due to social entrepreneur could have become
large scale without enabling instution
We develop a typology of describing the function of
government in social entrepreneur in term of level of
state capacity.
➢ There is now growing body of evidence for
government to legistimately champion social
➢ Enterprise as way of achieving the social policy
goals of fairer more just society through
➢ It focus on meeting unmet social needs addressing
environmental challenges encouraging
➢ Ethical market and raising the bar for social
responsibility
➢ Landscape development network and capacity
building opportunity which both encourage
➢ Social inclusive outcome which appears to be the
current focus of Australian government
23] explain NGO THE ROLE AND
RESPONSIBILITY TOWARD GOVT. WITH
PROPER EXAMPLE
ANS.
• A non profit organisation that operates independently
of any government typically one whose purpose is to
address a social or political issue
• Thousand of people have been displaced seeking rufege
at police station churches and accommodation set up by
ngo
• NGO activity include, but not limited to environment,
social and human right work.NGO play acritical part in
developing society and promoting citizen participation.
THE IMPORTANCE OF NGO IN INDIA:
India has made rapid progess in socio economic sphere in
the last seven decades million have been brought out of
poverty. Life expectancy has shot up,literacy rate has almost
tripled and people have better access to healthcare services.
However given vastness of india both in terms of demography
and area and its socio cultural diversity million are still bereft
of decent life
