Important Short questions and Answers: Entrepreneural Environment

1. What is Business Environment?

Business environment is the sum total of all external and internal factors that influence a business. You should keep in mind that external factors and intern.al factors can influence each other and work together to affect a business.

2. List out the objectives of Entrepreneurial Training.

^§    Set/ reset the objectives of business

^§    To prepare for Accepting unforeseen risk

^§    To take strategic decision

^§    Scan business opportunities

3. What is Entrepreneurship Development?

Entrepreneurial Development Programme means the programme designed to help a person in strengthening his entrepreneurial motive and in acquiring skills & capabilities necessary for playing his Entrepreneurial role effectively.

4. List out the steps involved in Entrepreneurship Training Programme.

Setting Training objectives

Training objectives

Developing course content

5. List out the contents of EDP.

•      General Introduction to Entrepreneurship

•      Motivation Training

•      Management skills

•      Support system & procedure

•      Fundamentals of project feasibility study

•      Plant Visits

6. What is DIC?

•      DIC were established in May 1978 in order to cater to the needs of Small Units.

•      Each district has a DIC at its headquarters.

•      DIC responsibility is to act as a chief coordinator in respect of various Government departments and other agencies.

7. Mention the Nature of International Entrepreneurship.

^ü   Involvement of Two countries

^ü   Language differences

^ü   Government Interventions

^ü   Payment in Foreign Currency& Differ from Internal Business

8. Write a brief note on SISI.

^Ø   SISI was Established in 1956. Small Industries Services Institute are setup one in each state to provide consultancy and training to small & prospective Entrepreneurs.

Assistance:

^Ø   Technical consultancy& advisory service

^Ø   Common Facility service

^Ø   Training Facilities

^Ø   Testing Facilities

^Ø   Marketing Assistance

9. What is the role of the Entrepreneurship in economic development?

·        Capital formation

·          Improvement in per capita income

·        Generation of employment

·        Balanced regional development

·        Improvement in living standards

·          Economic development.

10.            What are the objectives of EDPs?

20.                        Develop and strength their entrepreneurial quality.

21.                        Analysis environmental set up relating to small industry and small business.

22.                        Select product

9.     Formulate project for the product

10.                        Know pros and cons in becoming an entrepreneurs

11.                        Develop a broad vision about the business.

11.            What are the phases of EDPs?

^v   Pre- training Phase

^v   Training Phase

^v   Post-training Phases

12.            Define Training.

Training may be defined as any procedure initiated by an enterprise which intends to foster and enhance learning among the employees working in the enterprise. So far as the training in small-scale units is concerned, the owner himself takes the responsibility for developing and conducting the training programmes.

13.            What are the objectives of training?

1. To improve job performance by enhancing employee‟s knowledge and skill

2. To prepare employees well competent to discharge the new responsibilities.

3. To impart skill how to operate the new machinery and equipments

4. To reduce the wastage and accidents.

5. To build a second line for more responsible positions at a later stage.

14.            What are the methods of training?

1. on the job training

2. Apprenticeship training

3. Job Rotation

4. outside training.

15.            What are the characteristics of a successful Training programme?

1. Its objectives and scope are clearly defined

2. The training techniques are related directly to the needs and objectives of the organization

3. It employs accepted principles of learning.

16.            What is on the job training?

The oldest and most commonly used training techniques in the small scale units is the on the job training. It consists of the employees receiving training form their supervisors or other departmental members while they perform their regular jobs.

17. What is Job Rotation?

In this training programmed, employees are moved from job to job for a few hours a day, a few days at several weeks. Thus if one employee is absent, another employee can be well fill in the absence.

18. What is Apprenticeship training?

It combines both formal classroom learning and on the job experience. This kind of training programmed is provided mainly in the technical cadres. Plumbers, electricians and bankers are example or such training.

19. How training is given in the small scale industries?

The training opportunities for both skilled and unskilled employees.

(i) Fear that the trained employees would demand for higher salaries

(ii) Employees training will dislocate their schedule

(iii) Imparting training to employees involves sizeable expenses.

20. What is Development?

Development is concerned with the growth of an employee in all respects. The term development is generally used for employees working in the managerial ladder.

21. Write any four financial institution names.

DBI

IFCI

ICICI

LIC

UTI

21.            List of Loans available for starting Industrial venture in India.

· Industrial Development Bank of India(IDBI) · Industrial Finance Corporation of India (IFCI)