Entrepreneurship and Innovation

What is the root cause of alterations in manufacturing?

Directions: Read the following passage and answer the question on the basis of the content of the passage.
Manufacturing industries are a vital component of all modern economies and all of them require employees who are skilled - in and knowledgeable about - manufacturing processes. Manufacturing is undergoing major transformation due to the unforeseen challenges arising from the current trend of miniaturisation, the emergence of new materials and the growing interaction between biologists and engineers to learn more from nature and living objects. Traditionally, a "top-down" approach has been used in manufacturing. Recently, “bottom-up" approaches have begun for manufacturing today's highly complex products. For small to mid-size manufacturers, a well constructed manufacturing process that maximises the capabilities of your tools, parts and available labour is an essential part of an efficient go-to-market strategy.

What is not included as the efficient part of go-to-market strategy?

Directions: Read the following passage and answer the question on the basis of the content of the passage.
Manufacturing industries are a vital component of all modern economies and all of them require employees who are skilled - in and knowledgeable about - manufacturing processes. Manufacturing is undergoing major transformation due to the unforeseen challenges arising from the current trend of miniaturisation, the emergence of new materials and the growing interaction between biologists and engineers to learn more from nature and living objects. Traditionally, a "top-down" approach has been used in manufacturing. Recently, “bottom-up" approaches have begun for manufacturing today's highly complex products. For small to mid-size manufacturers, a well constructed manufacturing process that maximises the capabilities of your tools, parts and available labour is an essential part of an efficient go-to-market strategy.

Which of the following options connects with the term ‘bottom-up’?

Directions: Read the following passage and answer the question on the basis of the content of the passage.
Manufacturing industries are a vital component of all modern economies and all of them require employees who are skilled - in and knowledgeable about - manufacturing processes. Manufacturing is undergoing major transformation due to the unforeseen challenges arising from the current trend of miniaturisation, the emergence of new materials and the growing interaction between biologists and engineers to learn more from nature and living objects. Traditionally, a "top-down" approach has been used in manufacturing. Recently, “bottom-up" approaches have begun for manufacturing today's highly complex products. For small to mid-size manufacturers, a well constructed manufacturing process that maximises the capabilities of your tools, parts and available labour is an essential part of an efficient go-to-market strategy.

Family business leaders retire early.

So what’s actually new to add to your list of “Big Concerns” for the future? With all due respect to professional prognosticators, which we are not, we’d add three items, based on a recent set of small-session meetings with executives in the United States, Eastern Europe, the Middle East and India.

The first item – and biggest by far –  concerns family businesses, which make up a major portion of many economies. Such companies, of course, have distinct strengths. They can give employees a sense of humanity and belonging creating engagement. And in hard times, their cultures can be forgiving and resilient.

But we sense a growing fault line beneath the foundation of many family businesses. The first reason is linked to the traditional family company focus on the preservation of wealth, rather than the accumulation of it. That “protect the assets” approach may have worked in less complex times, but it could prove devastating in a global environment where risk taking and growth are essential to survival.

And then there is succession, which has never been easy within family firms. But today, increasingly longevity means that many patriarchs are staying in power for years longer, essentially forcing a whole new generation of family members into other pursuits. “Kids” these days do not wait until they are 50 to take charge and have an impact. It’s awkward and stultifying.

The CEO of one of India's best companies is amused by the publicity his methods have received. He believes that CEO's receive too much credit for corporate profits and claims that, “people assume too easily that CEOs are geniuses when a company is profitable and morons when a company is not.”

According to the CEO's statement, it can be inferred that he believes which one of the following to be true?

Directions: Read the passage/argument and answer the question that follows it.

Small companies are always very defensive in terms of protecting their own turf. They tend to firmly resist any attempt at invasion of their territory by another bigger rival company and will do their best to avert it from happening. They quote examples to prove that such incursions have invariably eaten into their market shares and consequently, profits. They fail to realize that ultimately, competition is going to do a whole world of good to their operations.

Which of the following will tend to support most the standpoint of small companies?

Directions: The following question consists of a single sentence with one blank only. You are given five words as answer choices and from the five choices you have to pick up the one that will make the sentence meaningfully complete.

Such arrangements would considerably lower the ________ at which businesses could reduce debt and replace it with equity capital, thereby helping spawn many more entrepreneurs.