Business Finance and Arithmetic — Entrepreneurship STD 11 Commerce — Question

Explain the following competencies of an entrepreneur.

1. Enterprise launching competencies.
2. Enterprise management competencies.

Give the formats of:

1. Cash book with cash column only.
2. Cash book with cash and bank column.

In ‘market penetration strategy', an enterprise attempts to increase the sale of its current products in the current markets by adopting certain approaches. Explain the various approaches briefly.

What does the concept of market by DYDDY advocates to?

Rahul, an owner of a huge Departmental Store, charges exorbitantly due of no competition around to the misses out on no opportunity to earn profit. He finds nothing wrong as the main goal of business is to earn 'Profit'. Discuss any four values which you find are lacking in him as a rational businessman.

Modern concept of market has been defined by Peter Drucker as, “The purpose of the business is to create customers and customers do not have geographical boundaries”. What is features of this concept of market can be inferred on the basis of the above definition?

Mr. Sanjay is the HR Manager of 'Sprint India Limited', a company engaged in the manufacturing of sports goods. With the approaching Commonwealth Games, the company is flooded with orders. Due to lack of competent staff, Mr. Sanjay decides to outsource some of the work. The company's management agrees on the condition that the quality of the work should not be compromised upon. Suggest Mr. Sanjay the different methods through which work can be outsourced. Also, identify the value being communicated by the company.

“Market offering can be prepared by following a step-by-step process". Explain the steps involved in the process of preparing a ‘market offering'.

Explain briefly the following myths relating to entrepreneurship.

1. Start-ups cannot be financed with debt.
2. Banks don't lend money to start-up.

Explain any two disadvantages of being an Entrepreneur?