SAMPLE QUESTION FOR ENTREPRENEURSHIP WITH
MARKING SCHEME
ENTREPRENEURSHIP
Class : XI Marks : 35
Time : 1.30
Answer All The Questions
1.
Who is an Intrapreneur? (1)
2.
State one crucial feature of Fabian
Entrepreneurs? (1)
3.
"They are highly ambitious are
normally not satisfied by slow progress in their
jobs."
This applies for which entrepreneurs? (1)
4.
What is the importance of an Intrapreneur
in an organization? (2)
5.
"Attitude is not by birth; it is
acquired" Explain the sources of attitude.
(3)
6.
Differentiate between an Intrapreneur and
Entrepreneur. (3)
7.
Explain
the features of attitude. (4)
8.
What
are the basic differences between Maslow‟s and McClelland‟s Theory of Needs? (4)
9.
"We can appoint an employee but not
an entrepreneur." Describe difference between
an
employee and an entrepreneur in the light of this statement. (5)
10. Explain
any ten types of entrepreneurs. (5)
11. "Competencies
is a set of defined behaviors." State the types of competencies
required
by an entrepreneur? Explain. (6)
MARKING
SCHEME
ENTREPRENEURSHIP
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Question
Number
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Value points
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Total
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1.
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Intrapreneurs
are usually employees within a company who are assigned a special idea or
project, and are instructed to develop the project like an entrepreneur
would. Intrapreneurs usually have the resources and capabilities of the firm
at their disposal.
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1
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2.
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Such
entrepreneurs are very shy and lazy. They are very cautious.
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1
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3.
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Motivated Entrepreneurs
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1
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4.
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An
inside entrepreneur, or an entrepreneur within a large firm, who uses
entrepreneurial skills without incurring the risks associated with those
activities. Intrapreneurs are usually employees within a company who are
assigned a special idea or project, and are instructed to develop the project
like an entrepreneur would. Intrapreneurs usually have the resources and
capabilities of the firm at their disposal. The intrapreneur's main job is to
turn that special idea or project into a profitable venture for the company.
These individuals can work independently but even more important can work
seamlessly as part of an integrated team structure and also effectively
embrace and embody the culture of the entrepreneur‟s host organisation.
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2
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5.
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1.
Direct personal experience:
The
quality of a person‟s direct experience with the attitude object determines
his/her attitude towards it.
2.
Group Associations:
People
are influenced to one degree or another by other members in the group to
which they belong.
3.
Influential Others:
A
consumer‟s attitude can be formed and changed through personal contact with
influential persons such as respected friends relatives and experts.
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3
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6.
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Intrapreneurs
are usually employees within a company who are assigned a special idea or
project, and are instructed to develop the project like an entrepreneur
would. Intrapreneurs usually have the resources and capabilities of the firm
at their disposal.
An entrepreneur being the owner of the enterprise
assumes all risks and uncertainty involved in running the enterprise
considers and thinks about one‟s business 24 hours,
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3
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7.
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1.
Affects behaviour: People
have a natural tendency to maintain consistency between attitude and
behaviour. Attitudes can lead to intended behaviour if there is no
external intervention.
2.
It is invisible: It
constitutes a psychological phenomenon which cannot be directly observed.
However, we may observe an attitude indirectly through observing its
consequences
3.
Attitudes are acquired: Attitudes are gradually learnt over a period of
time. The process of learning attitudes starts right from childhood
and continues throughout the life of a person. However, in the beginning,
the family members have a greater impact on the attitude of a child.
4.
Attitudes are pervasive: They are formed in the process of socialisation
and may relate to anything in the world. For instance a person may
have positive and negative attitudes towards religion, politics, politicians
or countries.
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4
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8
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Maslow’s
Hierarchy of Needs Theory:
This
theory was proposed by Abraham Maslow and is based on the assumption
that people are motivated by a series of five universal needs. These needs
are ranked, according to the order in which they influence human behaviour,
in hierarchical fashion.
Physiological
needs are
deemed to be the lowest- level needs. These needs include the needs such as
food and water.
Safety
needs --
the needs for shelter and security -- become the motivators of human
behaviour.
Social
needs include
the need for belongingness and love.
Ego
and esteem needs become
the motivating needs.
Self-actualization; The need for
self-realization, continuous self-development, and the process of becoming
all that a person is capable of.
McClelland’s
Theory of Needs:
According
to David McClelland, regardless of culture or gender, people are driven by
three motives:
Achievement
Affiliation
Power
Since
McClelland's first experiments, over 1,000 studies relevant to achievement
motivation have been conducted. These studies strongly support the theory.
Achievement:
The
need for achievement is characterized by the wish to take responsibility for
finding solutions to problems, master complex tasks, set goals and get
feedback on level of success.
Affiliation:
The
need for affiliation is characterized by a desire to belong, an enjoyment of
teamwork, a concern about interpersonal relationships, and a need to reduce
uncertainty.
Power:
The
need for power is characterized by a drive to control and influence others, a
need to win arguments, a need to persuade and prevail
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4
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9
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1.
Motive: The
motive of an entrepreneur is to start a venture by setting up of an
enterprise. One undertakes the venture for his personal gratification;
whereas the employee‟s job is to render one‟s service in the ongoing
or new enterprise set up by someone else.
2.
Status: An
Entrepreneur is the owner of the enterprise, whereas an employee is the
servant in the enterprise owned by entrepreneur.
3. Risk
Bearing: An
entrepreneur being the owner of the enterprise assumes all risks and
uncertainty involved in running the enterprise considers and thinks about
one‟s business 24 hours, where as an employee being servant does not
bear any risk, all that, can happen is one may lose one‟s job with or
without some compensation. One thinks of one‟s enterprise that one is
working on duty for certain hours only.
4.
Rewards: The
reward, an entrepreneur gets, for bearing risks involved in the enterprise is
profit or at times handsome profit, which is uncertain, where as an
employee gets rewarded for one‟s services rendered in the enterprise
as salary which is fixed and certain as per appointment letter issued.
In addition, one gets a bonus as per prescribed rules and festival
tokens etc. in cash or kind, sometimes on performance.
5.
Innovations: The
entrepreneur himself/herself thinks over what and how to produce goods and services.
One has to bear in mind about meeting the changing demands of the customers.
Thus one’s job gets to meet up the targets decided by one’s employees.
6.
Qualification: An
entrepreneur needs to possess qualities and qualifications like high
achievement motive, originality in thinking, farsightedness, risk
bearing abilities and much more where as an employee needs to possess
qualification as per the status in the enterprise which are pre-set
and detailed in black and white, like an accountant can be C.A/M.Com etc. and
a manager may be an M.B.A. in Marketing/Finance or Human Resource etc
as per the nature of the enterprise.
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5
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10
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1.
Innovative Entrepreneur: In the early phases of economic development,
entrepreneurs have initiative to start new ventures and find
innovative ways to start an enterprise.
2.
Imitative Entrepreneur: There is a second group, generally referred as imitative
entrepreneurs. They usually copy or adopt suitable innovations made by
innovative entrepreneurs.
3.
Fabian Entrepreneurs: The third type are the Fabian Entrepreneurs. Such
entrepreneurs are very shy and lazy. They are very cautious. They do
not venture or take risks.
4.
Business Entrepreneur: Business entrepreneurs are those who develop an
idea for a new product or service and then establish an enterprise to
materialise their idea into reality.
5.
Trading Entrepreneur: Entrepreneurs who undertake trading activities
whether domestic or overseas are Trading Entrepreneurs.
6.
Industrial Entrepreneur: Industrial entrepreneurs essentially
manufacture products and offer services, which have an effective demand in
the marketing.
7.
Corporate Entrepreneur: Corporate Entrepreneurs are those who through
their innovative ideas and skill able to organise, manage and control
a corporate undertaking very effectively and efficiently.
8.
Agricultural Entrepreneur: Agricultural entrepreneurs are those who
undertake agricultural as well as allied activities in the field of
agriculture.
9.
Technical Entrepreneur: The entrepreneurs who are technical by nature
in the sense of having the capability of developing new and improved
quality of goods and services out of their own knowledge, skill and
specialisation are called a technical entrepreneur.
10.
Motivated Entrepreneurs: Motivated Entrepreneurs are motivated by
their desire to make use of their technical and professional expertise
and skill in performing the job or project they have taken up.
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5
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11
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The
entrepreneurial competencies can be classified under the following
categories:
Entrepreneurial
Competencies: These
are certain basic competencies to be acquired by an entrepreneur. They relate
to the type of behaviour exhibited in the performing of various tasks
in the discharge of his functions.
Initiative:
One
of the most fundamental competencies required for the entrepreneurs is the
ability to take initiative. It is rather the first step in the
enterprise. An entrepreneur has to be keen observer of the society,
the commercial trends, the product types, the change dynamics and the
consumer trends. Once he/she decides to take the initiative, what
matters is the speed with which he/she is going to function.
Creativity
and Innovation: Competency
in creativity and innovation are sometimes basic traits of certain
individuals. He/she might not have any new ideas. He/she may use the
creative ideas and innovative products and services to meet the
challenges of a situation, take advantage of the utility of an idea or
a product to create wealth.
Risk
Taking and Risk Management: An entrepreneur ventures into new
ideas and new service. He/she treads into areas of uncertainty. There
are several elements such as demand supply in the market, resources availability,
acceptability of the product design and service which throw a potential
challenge to the entrepreneur.
Problem
Solving: Once
an entrepreneur is aware that he has ventured on a new area and has taken
certain calculated risks, he/she should also be aware that many
problems are bound to come in the path of progress. He/she should
understand that there is more than one way of solving problems, look
for alternative strategies or resources that would help to solve the problem,
generate new ideas, products, services etc. For example: When an
entrepreneur faces cash
Leadership:
An
entrepreneur should also be an effective leader who should be able to guide
and motivate his/her entire team. Whenever a company faces problem it
is the will power and effective business acumen and communication
skills which oversees the success of the corporation.
Persistence:In most cases,
the entrepreneurial pursuits are new and need very close attention. Creating
a need in the market for the enterprise is one of the main
requirements of the entrepreneur. This calls for intense perseverance
on the part of the entrepreneur. Roadblocks to success should not deter
the entrepreneur.
Quality
Performance: Since
entrepreneurs value outstanding performance, one of the behavioural skills
necessary is the sensitivity to and concern for the „standards‟ and
„quality of work‟. One develops the skill of comparing the quality of
the product/services with certain standards, which he/she himself evolves
or are set by others.
Information
Seeking: Information
plays a very crucial role at every stage of enterprise building and
management. The quality and extent of information collected and the
way these have been used to make various decisions by and large
decides the success and failure of any entrepreneurial venture.
Systematic
Planning: Every
entrepreneur has limited resources in terms of time, finance, and manpower.
They invest their life‟s saving and total energy in creating
entrepreneurial ventures and cannot afford to lose or waste these.
Before putting the whole enterprise into operation, he is required to develop
a detailed blueprint.
Persuasion
and Influencing Others:
One
of the important functions of an entrepreneur is to influence the environment
comprising of individuals and institutions, for mobilizing resources,
obtaining inputs, organising production and selling products and services.
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6
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