Entrepreneurship as Innovation and Problem Solving — Entrepreneurship STD 11 Commerce — Question

Good marketing information should possess many characteristics. State any two which according to you are the most important.

Explain the role of entrepreneurs as innovators.

What do you mean by goodwill?

Briefly explain the following two commercial functions to be performed by an entrepreneur.

1. Finance.
2. Marketing.

Business is an institution. How?

What is entrepreneurial strategy?

Why is finance called as a master key?

Which goods are used by final consumers?

Dinesh, after completing his studies, returned to his hometown, Jabalpur. Jabalpur is famous for its soft marble and many craftsmen make beautiful statues from this marble. Yet, he was surprised to learn that they made barely enough to fulfil their basic needs.
On researching about the probable reasons for their plight, he found that they were unorganised and lacked the financial strength to market their produce. He decided to organise these craftsmen in the form of a cooperative society. The cooperative society provided finance to the craftsmen, and helped them to market their products through a e-portal. Within 2 years, the standard of living of the craftsmen improved considerably.

1. To which category of entrepreneur does Dinesh belong to?
2. Identify the values exhibited by Dinesh.

State the broad classification of the factors relating to barriers to entrepreneurship.