BB0028 – ENTREPRENEURSHIP DEVELOPMENT

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q. 1Write a note on types of Entrepreneurs as classified by Danhof.

 

Ans : Entrepreneurs can be of different types. Some may prefer to go it alone or share the risk in groups with others. They are found in every economic system and every form of economic activity as well as in other social and cultural activities. Basing on the above features C. Danhof has broadly classified entrepreneurs into four types. These are discussed below.

 

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. Thus, innovative

 

 

 

Q. 2 What is SIDO? Explain its functions.

 

Ans : SIDO:-

 

Small industries are back bone of any nation. Development of SSI means bringing all way prosperous and growth of the nation. This is so as it directly or indirectly generate wealth, improves the economic condition of people by generate employment, contributes to GDP and so on.

Thus realizing the importance of this sector, government has come forward with extending many a facilities and supports for the development of SSI in the country. SIDO is one amongst them.

SIDO is as apex body and nodal agency for formulating, policy-making, coordinating and monitoring agency for the development of small scale entrepreneurs.

 

 

 

                                         

Q. 3 Discuss MODVAT in detail

 

Ans : 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

 

 

 

Q. 4Explain New Small Enterprise Policy, 1991.

 

Ans : 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.)

 

 

 

 

Q.5 Elaborate the TQM Process in Small Scale Enterprises.

 

Ans : Introduction:

 

There are many approaches in the business domain in order to achieve and exceed the quality expectations of the clients. For this, most companies integrate all quality-related processes and functions together and control it from a central point. As the name suggests, Total Quality Management takes everything related to quality into consideration, including the company processes, process outcomes (usually products or services) and employees.

 

Basic Principles of TQM:

 

 

 

Q. 6 Digital is a leading laptop manufacturing company. It decides to add some more new products to the existing product line like – digital cameras and MP4 players. Help them to understand the basics for internal growth of business and discuss the advantages and disadvantages as well.

 

Ans : Internal growth strategies:-

 

Internal growth strategies involve efforts taken within the business, such as new product development, other product-related strategies, and international expansion. Almost all businesses start by featuring internal growth, and many businesses stick with this strategy as they grow. Here are the most common internal growth strategies:

 

•             New product development

 

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