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ASSIGNMENT
| DRIVE | WINTER 2014 |
| PROGRAM | Bachelor of Commerce in Information System |
| SUBJECT CODE & NAME | BM0024-SMALL BUSINESS MANAGEMENT AND ENTREPRENEURSHIP DEVELOPMENT |
| SEMESTER | 5 |
| CREDITS | 4 |
| MARKS | 60 |
Answer all the questions. Each question carries 10 Marks.
1. Write a Note on Entrepreneurial Functions
Answer : An entrepreneur performs a series of functions necessary right from the genesis of an idea up to the establishment and effective operation of an enterprise. He carries out the whole set of activities of the business for its success. He recognises the commercial potential of a product or a service, formulates operating policies for production, product design, marketing and organisational structure. He is thus a nucleus of high growth of the enterprise.
According some economists, the functions of an
2. Discuss Different Phases in Entrepreneurial Development Program
Answer : EDP is primarily designed to induce motivation and competence among young prospective entrepreneurs. So the cause and curriculum of Entrepreneurship Development programme will be so designed that it will induce motivation and competency. The course curriculum of EDP should be designed to cover the following aspects:
- It will give general introduction to entrepreneurship.
3. What is Project, Explain the 3 Stages of Project Life Cycle
Answer : The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. There is first an Initiation or Birth phase, in which the outputs and critical success factors are defined, followed by a Planning phase, characterized by breaking down the project into smaller parts/tasks, an Execution phase, in which the project plan is executed, and lastly a Closure or Exit phase, that marks the completion of the project.
4. Explain the Internal and External Sources of Finance for an Enterprise
Answer : All businesses need money. Where the money comes from is known as ‘sources of finance’. Now there are two different types of sources of finance: internal (finance from inside the business) and external (finance from outside the business). New businesses starting up need money to invest in long-term assets such as buildings and equipment. They also need cash to purchase materials, pay wages, and to pay the day-today- bills such as water and electricity. In-experienced entrepreneurs (or social entrepreneurs) often underestimate the
5. Write a Note on MODVAT and Small Scale Industries
Answer : Modvat stands for “Modified Value Added Tax”. It is a scheme for allowing relief to final manufacturers on the excise duty borne by their suppliers in respect of goods manufactured by them. eg ABC Ltd is a manufacturer and it purchases certain components from PQR Ltd for use in manufacture. POR Ltd would have paid excise duty on components manufactured by it and it would have recovered that excise duty in its sales price from ABC Ltd. Now, ABC Ltd has to pay excise duty on toys manufactured by it as well as bear the excise duty
6. Discuss New Small Enterprise Policy 1991
Answer : New Small Enterprise Policy, 1991.:-
The Industrial Policy announced on July 24, 1991 heralded the economic reforms in India and sought to drastically alter the industrial scenario in our country. The most visible sign of the countries economic crisis in early 1991 was:
• Extremely low foreign exchange reserves of Rs. 2400 crore (just enough to buy from abroad only three weeks requirements.)
• Inflation was as high as 13.5%
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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