Commerce Accountancy · General Awareness

Entrepreneurship and Innovation

1,063 Questions

Entrepreneurship and innovation questions address business management, economic development, and small scale industries. These topics are highly relevant for commerce students and competitive exams focusing on business administration. Review these questions to understand enterprise structures.

Small scale industriesWomen entrepreneurs enterpriseLegal risk mitigationMultinational corporationsKnowledge based industries

Entrepreneurship and Innovation Questions

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

___ is the "inside entrepreneur".

  1. Shareholder

  2. Part time director

  3. Intrapreneur

  4. All of above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

Not every business needs an Entrepreneur, but every business needs an Intrapreneur.

  1. True

  2. False

  3. Partly true

  4. None of above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. Without the minor goals the major goals cannot be achieved. So, intrapreneur are important for a business

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

Intrapreneur faces competition from -

  1. Entrepreneurs

  2. Managers

  3. Employees within the organization

  4. All the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

___ have to face rivalry within the organization they work.

  1. Entrepreneurs

  2. Owner

  3. Shareholder

  4. Intrapreneurs
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

Research indicates that most successful entrepreneurs share certain personal attributes, including ___

  1. Leadership

  2. Passion

  3. Self confidence

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An entrepreneur in order to be successful should posses 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:-
Passion to do something.
Motivation/ determination to excel
Creativity to think differently.
Dedication to what they do.
Risk taker

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

Key characteristic(s) of Intrapreneurship: __________.

  1. It promotes the managers to be more innovative and take more responsibility while demonstrating charismatic leadership qualities.

  2. Intrapreneurship projects are funded by large business organization and agreed percentage of profits are remitted to the fund provider/head quarters of the business.

  3. Intrapreneurship will cultivate entrepreneurial skills/culture within the corporate culture where managers will be motivated to accept more risk.

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Intrapreneurship is being an entrepreneur inside or within the organization. Intrapreneurship will cultivate entrepreneurial skills/culture within the corporate culture where managers will be motivated to accept more risk.

Ir promotes the managers to be more innovative and take more responsibility while demonstrating charismatic leadership qualities and intrapreneurship projects are funded by large business houses and agreed percentage of profits are remitted to the fund provider.

Multiple choice business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

Which of the following can be treated as trait of entrepreneur?

  1. He is a moderate risk taker

  2. He is innovative

  3. He peruses the deviant pursuits

  4. All of above
Reveal answer Fill a bubble to check yourself
D Correct answer
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.

Multiple choice commercial studies structure of business e-advertising, e-marketing and e-security introduction to internet and e-commerce emerging modes of services e-tailing e-commerce and mobile commerce

Fast growth plus relatively low market share means that there is still enormous opportunity for new players to outpace traditional industry leaders.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

True. 

IF the market is growing fast and the sellers have very low market share then it indicates that there are enormous opportunities for all the new players to compete with the traditional industry leaders and outpace them. 

Multiple choice brochure/leaflet/flyer/pamphlet writing english

Select the best option. 

If you are writing a brochure introducing a company or institution, you should include which of the following?

  1. only the biggest achievements of the company

  2. the financial growth pattern of the company

  3. the past, present, and future plans of the company

  4. the history and creation of the company
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Choice C is correct as telling everything about the company would be truthful and give information about what is planned in the future. Choice a is wrong as it would be giving partial information. Choice B is wrong as only financial information is not enough. Choice D is wrong as giving the history of the institution will not show how it has grown. 

Multiple choice long-term and short-term finance sources of business finance business studies

The ______________ of a business is a key determinant.

  1. cost

  2. financial strength

  3. legal status

  4. control
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The financial strength of a business is a key determinant as finance is the life blood of any business. Finances are required by a company to carry out various activities. They can be classified into long-term capital needs and working capital needs.

Multiple choice contemporary indian society civics

Which is not an example of commercialization?

  1. Setting up of marriage bureaus

  2. Teaching of personality development in the institutions

  3. Personality development in household environment

  4. All of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Among the given options, both the statements define commercialization. It is an act of Conversion of an object into a product so that it can be traded in the market is called commercialization. Setting up of marriage bureaus and personality development institutes is an example of commercialization. Household personality development is not done for profit and hence is not an example of commercialization.

Multiple choice book keeping and accountancy accounting procedures - rules of debit and credit modern approach of rules of accounts meaning and classification of accounts classification of accounts

Single entry system is suitable to _________ firms.

  1. small

  2. big

  3. medium

  4. all of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Single entry system is an incomplete and informal accounting method. It is primarily suitable for small businesses that do not require complex financial reporting.

Multiple choice organisation of commerce and management multinational corporations global enterprises meaning and features of mncs public sector undertakings & global enterprises

Which of the following is not a characteristic of MNCs?

  1. Huge size

  2. Operation in a single nation

  3. Large number of products

  4. Marketing strategies
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

MNC'S are gigantic corporations which have their operations in a number of countries. They are characterized by their huge size, large number of products, advanced technology, marketing strategies and network of operations all over the world.

Multiple choice organisation of commerce and management multinational corporations global enterprises meaning and features of mncs public sector undertakings & global enterprises

Highly developed research and development departments help in the task of developing _________.

  1. new advanced products

  2. higher profits

  3. patents and copyrights

  4. monopoly of the MNCs
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Global enterprises are characterized by having highly sophisticated research and development departments engaged in the task of developing new products and superior designs for existing products.

Multiple choice elements of business multi national corporations advantages and disadvantages of mncs meaning and definition multinational companies - meaning and features

The advantages of Multinational corporation is ________.

  1. business gets management expertise from MNC.

  2. always enjoy political harmony in host countries in which their subsidiaries operate.

  3. enjoy subsidies from government in order to conduct worldwide operations.

  4. both a&b
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Advantages of multinational companies. Multinationals create jobs which boosts the local economy and more workers to tax. They bring expertise in that skills of workforce are improved, some may use IT that would never have before or other skills now deemed basic by the western or developing world.