Rajasthan Board RBSE Class 12 Business Studies Chapter 12 Entrepreneurship Development Programme-Meaning, Objectives and Importance
RBSE Class 12 Business Studies Chapter 12 Textbook Exercise
RBSE Class 12 Business Studies Chapter 12 Very Short Answer Type Questions
Question 1.
What is Entrepreneurship Development Programme?
Answer:
Entrepreneurship Development Programme refers to the identification of potential entrepreneurs and equip them with the required skills and knowledge needed for starting and running various enterprises.
Question 2.
State any two objectives of Entrepreneurship Development Programme.
Answer:
- To help in establishment of new ventures and formulation of projects.
- To develop small-scale and cottage industries.
Question 3.
What are small and medium-scale industries?
Answer:
Industries with cost of plant and machinery upto one crore or fire crore in some
cases.
Question 4.
What is meant by Industrial Environment?
Answer:
Industrial environment means establishment of new enterprises, and growth and development of existing enterprises.
RBSE Class 12 Business Studies Chapter 12 Short Answer Type Question
Question 1.
Discuss briefly the objectives of Entrepreneurship Development Programme (EDP).
Answer:
Following are the objectives of entrepreneurship development programmes:
- To promote first generation entrepreneurs and industrialists.
- To develop entrepreneurship qualities.
- To help in establishment of new ventures and formulation of projects.
- To develop enterprises in all areas and spheres of country.
- To provide training to operate business and for marketing.
- To develop small-scale and cottage industries.
- To provide solutions for entrepreneurial doubts and problems.
- To provide knowledge about government planning and programmes.
Question 2.
State the role of entrepreneurship development programmes in developing the economy.
Answer:
Entrepreneurship has been considered as the backbone of economic development. Entrepreneurship development programme is an effective way to develop entrepreneurs who can help accelerate the pace of socio-economic development, balanced regional growth, optimum use of local resources and create gainful self employment. Arthur Cole has also accepted the social utility of entrepreneurship development programmes stating, “with study of entrepreneurship development programmes, the social and economic activities are strengthened.”
RBSE Class 12 Business Studies Chapter 12 Long Answer Type Questions
Question 1.
Give the meaning and definition of entrepreneurship development programmes. Discuss its objectives.
Answer:
In simple words, entrepreneurship development programmes refer to developing entrepreneurial abilities among people. It refers to inculcation, development and polishing of those entrepreneurial skills into a person which are needed to establish and successfully run his enterprise. It deals with careful identification of potential entrepreneur need-based entrepreneurial training and pre and post project implementation and follow up and support. Meaning of entrepreneurship development programme is implementing those efforts by which following goals, can be achieved:
- An educational process and endeavour in human resources development.
- To help in establishment of new ventures and formulation of projects.
- Entrepreneurship development programme enhances the motivation, knowledge, operational skills of potential entrepreneurs and assists them to develop their own ventures and run them successfully.
- Train them to use entrepreneurial skills in daily life activities.
Following are the main objectives of Entrepreneurship Development Programmes :
(i) To promote first generation entrepreneurs and industrialists :
Entrepreneurship development programmes are based on the belief that entrepreneurs are not born, they are created. It is primarly meant for developing entrepreneurs by giving them the required training, counselling, support and motivation.
(ii) To develop entrepreneurial qualities :
Entrepreneurship development programmes identifies protential entrepreneurs and through continuous training, motivation, counselling develop necessary qualities in them and make them competent to face the uncertainties, and take profitable risk for successful running of their enterprises.
(iii) To provide knowledge about government planning and programmes :
Another objective of entrepreneurship development programmes is to inform the entrepreneurs about the various schemes, incentives, plans and programmes started by government and to create awareness about such programmes. Entrepreneurship development programmes also help the entrepreneurs to identify those department and institutions from where they can get various types of information.
(iv) Helps in formulation of new projects :
Entrepreneurship development programmes provide the required assistance to entrepreneurs for starting new ventures and projects. They help the potential entrepreneurs to develop their projects, ideas, into bankable projects. They also provide the necessary knowledge about project formulation and project implementation, market analysis, working capital requirements to the entrepreneurs for running their business.
(v) To provide knowledge about advantages and disadvantages :
Entrepreneurship development programmes make the people aware of pros and cons of being an entrepreneur, advantages and disadvantages of entrepreneurship, the possible challenges and problems which might come in the way of establishment and operation of any enterprise.
(vi) To provide training to operate business and marketing :
One objective of Entrepreneurship development programmes is to impart various training programmes to first generation potential entrepreneurs, existing industrial workers and managers, to promote micro and small scale enterprises in the country.
(vii) To develop small scale and cottage industries :
Entrepreneurship development programmes encourage the establishment and development of micro, small scale, and cottage industries by utilising the locally available resources. Technical skills, knowledge, financial assistance and several other incentives are given to promote the development of small and cottage industries in the country.
Question 2.
Elucidate the importance of entrepreneurship economic development of nation.
Answer:
Entrepreneurship has been considered as the backbone of economic development. Entrepreneurship development programme is an effective way to develop such entrepreneurs who can help and accelerate the pace of social and economic development. Following are the points to understand the importance of entrepreneurship development programmes in development of nation:
(i) Rapid economic and balanced development of the nation :
Entrepreneurship development is a tool of industrialisation and the path to economic growth. Apart from this, entrepreneurship development programme is the basic pillar of balanced regional development. Getting inspired and motivated with these programmes, entrepreneurs set up industrial units in remote and backward areas which help in balanced regional development of the nation.
(ii) Optimum utilisation of resources :
Entrepreneurship development programmes train the entrepreneurs with best methods and techniques for utilising the local resources. By optimum utilisation of natural, financial and local resources, they prepare a healthy base for sound, economic and industrial development.
(iii) Helps in capital formation :
Entrepreneurship development programme helps in equipping the people with all the skills and knowledge required for establishment of new business ventures, expansion of existing enterprises, development of new products, designing services and create markets. All these activities involve mobilizing of savings and their investment into productive and profitable channels which helps in increasing the rate of capital formation.
(iv) Builds Industrial Environment :
Entrepreneurship development programmes create ail optimistic environment towards entrepreneurship and through these programmes, new ventures are set up, new technologies, new inventions, new products are introduced and promoted, new markets are discovered and new enterprises are opened in backward areas, existing entreprises are modernised and expanded. This leads to increase in industrial activities, developing the industrial environment.
(v) Development of small-scale and cottage industries :
Entrepreneurship development programmes help in providing various incentives, subsidies, infrastructural facilities, assistance, to develop medium, small-scale and cottage industries. Entrepreneurs are imparted training and skills, given knowledge of government schemes, provided managerial and financial assistance for the establishment of small-scale and cottage industries.
(vi) Increase in employment opportunities :
Entrepreneurship development programmes provide entreprenurship education, training programmes to develop entrepreneurs, create new enterprises, existing of new enterprises, developing of new products, new designs, services and markets, thus creating self employment opportunities as well as employment for others also.
(vii) Knowledge of legal provisions and government policies to the entrepreneurs :
In order to start a new venture, an entrepreneur requires information about available assistance, support, knowledge of legal provisions, government policies, etc. Under entrepreneurship development programmes, information about legal requirements, government policies are provided, which facilitates the establishment and running of these enterprises in an easy and convinient way.
RBSE Class 12 Business Studies Chapter 12 Additional Questions
RBSE Class 12 Business Studies Chapter 12 Objective Type Questions
Question 1.
The role of entrepreneurship development programmes is :
(a) Entrepreneurs are provided with knowledge and techniques by which their mental and technical capabilities are increased.
(b) They help the entrepreneurs in establishment of their new enterprises.
(c) They help in increasing the internal strength of an entrepreneur and inspire and direct him/her to choose the path of courage.
(d) All of these
Answer:
(d) All of these
Question 2.
Objective of entrepreneurship development programme is :
(a) Development of entrepreneurial qualities
(b) Providing knowledge about government planning and programmes
(c) Helping entrepreneurs in formulation of projects
(d) All of the above
Answer:
(d) All of the above
Question 3.
Primary objective of entrepreneurship development programme is :
(a) To provide knowledge about advantages and disadvantages of entrepreneurship
(b) To promote first generation entrepreneurs
(c) Helping the entrepreneurs in formulation of projects
(d) To provide training of running the enterprise and distribution of products
Answer:
(b) To promote first generation entrepreneurs
Question 4.
Which is not an objective of entrepreneurship development programme?
(a) Banning the small-scale and cottage industries
(b) To provide solutions to entrepreneural problems and doubts
(c) To develop enterprises in all areas of the country
(d) None of these
Answer:
(a) Banning the small-scale and cottage industries
Question 5.
“Entrepreneurship development programmes are an essential part of economic development.” This has been said by :
(a) Arthur Cole
(b) Donald B. Trow
(c) Ribson K
(d) Yel Bozen
Answer:
(c) Ribson K
Question 6.
Importance of entrepreneurship development is :
(a) Rapid and balanced economic and balanced development of nation
(b) Optimum utilisation of resources
(c) Providing knowledge of government policies and legal provisions to entrepreneurs
(d) All of these
Answer:
(d) All of these
Question 7.
“Entrepreneurs help in balanced development of nation.” This has been said by :
(a) Prof. Nurksey
(b) Donald B. Trow
(c) Arthur Cole
(d) None of these
Answer:
(a) Prof. Nurksey
Question 8.
Reason of Japanese and Chinese economies being on the top :
(a) Entrepreneurship
(b) Abundance of natural resources
(c) Unemployment
(d) All of these
Answer:
(a) Entrepreneurship
Question 9.
“Entrepreneurship is an important medium of social change and entrepreneural cultures.” . This has been said by :
(a) Prof. Nurksey
(b) Donald B. Trow
(c) Arthur Cole
(d) Yel
Answer:
(b) Donald B. Trow
Question 10.
Which of the following is not included in entrepreneurship development?
(a) Developing small-scale and cottage industries
(b) Capital formation
(c) Decrease in employment opportunities
(d) Rapid and balanced economic development of the nation
Answer:
(c) Decrease in employment opportunities
RBSE Class 12 Business Studies Chapter 12 Very Short Answer Type Questions
Question 1.
Write the primary objective of Entrepreneurship Development Programme.
Answer:
To promote first generation entrepreneurs and industrialists.
Question 2.
How do entrepreneurship development programmes help in formulation of projects?
Answer:
Entrepreneurship programmes, by providing necessary knowledge and financial and managerial assistance, helps in formulation of projects.
Question 3.
What are Cottage Industries?
Answer:
Those industries which are operated with low capital, simple tools, personal resources and domestic techniques of production, and which employ family members are called cottage industries.
Question 4.
What is the role of entrepreneurship development programmes in economic and industrial development a country?
Answer:
Entrepreneurship development programmes help in increasing the opportunities, promoting balanced industrial development and making the youth as future entrepreneurs in the country, and thus play an important role in economic and industrial development of the country.
Question 5.
What has been written by Arthur Cole in context to social importance of entrepreneurship development programmes?
Answer:
According to Arthur Cole, “With studying of entrepreneurship development programmes our social and economic activities are strengthered.”
Question 6.
“Entrepreneur helps in rapid economic and balanced development of the nation.” Who said this?
Answer:
Prof. Nurksey.
Question 7.
Entrepreneurs increase the employment opportunities in the country.” Who said this?
Answer:
Ribson.
Question 8.
“Entrepreneurship is an important medium of social change and entrepreneural culture.” Who said this?
Answer:
Donald B. Trow.
RBSE Class 12 Business Studies Chapter 12 Short Answer Type Questions (SA – I)
Question 1.
Objectives of Entrepreneurship Development Programmes is providing knowledge about advantages and disadvantages of setting up their own entreprise. Explain.
Answer:
Entrepreneurship development programmes makes the people aware of pros and cons of being an entrepreneur, advantages and disadvantages of entrepreneurship, the possible challenges and problems which might come in the way of establishment and operation of any enterprise.
Question 2.
How do Entrepreneurship Development Programmes help in providing encouragement to innovation and product diversification?
Answer:
Through entrepreneurship development programmes, innovation and product diversification is encouraged. New products, new technologies, new markets, new machinery and equipments are possible only through innovation and market survey. Under entrepreneurship development programmes, enterpreneurs are assisted to understand the prospects of various markets and are encouraged to perform further research and investigation.
Question 3.
Why Entrepreneurship Development Programmes are said to be the basic pillar of balanced development?
Answer:
Entrepreneurship Development Programmes are said to be the basic pillar of balanced development because by getting inspired from these programmes, entrepreneurs establish new’ ventures in under-developed and remote areas and help in balanced economic development. According to Prof. Nurksey, “Entrepreneur helps in creating path of balanced economic development.”
Question 4.
How optimum utilisation of resources is possible through Entrepreneurship Development Programmes?
Answer:
Entrepreneurship Development Programmes train the entrepreneur with best methods and techniques for utilising the local resources in an optimum way. Utilising natural, financial and human resources in the best possible way helps in economic development.
Question 5.
What is the role of Entrepreneurship Development Programmes in execution of government policies and plans.
Answer:
Entrepreneurship Development Programmes play a vital role in execution of government policies and plans. It is through entrepreneurship development programmes, that government policies and plans related to these problems are successfully executed, like creating job opportunities, self employment, eliminating poverty, concentration of economic power and improving standard of living.
Question 6.
What is the role of Entrepreneurship Development Programmes in the development of small-scale and cottage industries?
Answer:
Entrepreneurship Development Programmes help in providing various incentives, subsidies, infrastructural facilities and assistance to develop small-scale and cottage industries. Entrepreneurs are imparted knowledge and skills, assistance in government schemes, to run their enterprises efficiently and profitably.
Question 7.
Explain the role of Entrepreneurship Development programmes in increasing employment opportunities.
Answer:
Entrepreneurship development programmes provide the entrepreneur education and for establishing new enterprises, expansion of existing, enterprises, development of new products, new designs, services and markets, thus creating self employment as well as employment opportunities for others also.
Question 8.
Entrepreneurship Development Programmes are a medium of social change. Explain.
Answer:
Entrepreneurship development programmes are an important medium of social change and entrepreneural culture. A self-reliant society is created through entrepreneurship. Entrepreneurs, with their vision and creativity, can bring many social changes and can break away from traditional thinking. Creation of employment opportunities, capital formation and supply of products at reasonable price helps in increasing the standard of living of society.
RBSE Class 12 Business Studies Chapter 12 Short Answer Type Questions (SA – II)
Question 1.
What is Entrepreneurship Development Programme ? Explain.
Answer:
Meaning of Entrepreneurship Development Programmes :
In general terms, Entrepreneurship Development Programmes work with the objective of searching and identifying prospective youngsters from groups and providing them business knowledge and technical skills for establishing their new enterprises and ventures and assist them in running those ventures or enterprises smoothly. Through these programmes, entrepreneurs are provided with financial, human and market information and assistance for growth and expansion of the enterprise.
Following are the points to understand entrepreneurship development programme :
- Providing business knowledge and technical training to entrepreneurs to increase, their mental and technical abilities.
- To help in establishment of new ventures and formulation of projects.
- Development of entrepreneurs by increasing their inner strength and making them strong enough to choose the path of courage.
- Making the entrepreneurs capable to use entrepreneural behaviour in day to day activities.
Question 2.
“Entrepreneurship Development Programmes are a medium of social change”. Explain.
Answer:
Society is a group of different people in which beliefs and customs of people are different. Entrepreneurship helps in making the society a self-reliant society. Entrepreneurship helps in breaking the traditional and backward thinking and making the society industry oriented. According to Donald B. Trow, “Entrepreneurship is an important medium of social change and enterpreneural culture.” In brief, entrepreneurship helps in making a society advanced.
RBSE Class 12 Business Studies Chapter 12 Long Answer Type Questions
Question 1.
Differentiate between Entrepreneurship and Management.
Answer:
Following is the table of differences between entrepreneurship and Management:
| Basis of Difference | Entrepreneurship | Management |
| 1. Centralised | Centralised in establishing new enterprises. | Centralised planning of business. |
| 2. Attitude | Formal attitude of doing work. | Formal attitude of management. |
| 3. Risk | Bears risk. | Doesn’t bear risk. |
| 4 Prize | Share profits. | Get Salary. |
| 5. Position | Owner. | Employee. |
| 6. Requirement | Huge amount of resources are required. |
Limited resources are required. |
| 7. Inspiration | Inspired to achieve objectives. | Inspired to get the task completed. |
| 8. Specialisation | Perform all tasks whether specialized or not. | Specialised in a respective field. |
| 9. Decision Making | Making decision in every circumstances. | Making decision on the basis of experience. |
| 10. Scale of operating enterprise |
Establishing enterprises on small scale. |
Run big enterprises. |
| 11. Utilisation of resources |
Entrepreneurs are not worried about resources. They manage them as and when required. | Management uses the available resources. |
| 12. Important basic quality |
Identifying business opportunities and using them to the optimum. |
Setting up of organisation and maximum utilization of resources. |