Samacheer Kalvi 12th Commerce Guide Chapter 24 Types of Entrepreneurs

Tamilnadu State Board New Syllabus Samacheer Kalvi 12th Commerce Guide Pdf Chapter 24 Types of Entrepreneurs Text Book Back Questions and Answers, Notes.

Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 24 Types of Entrepreneurs

12th Commerce Guide Types of Entrepreneurs Text Book Back Questions and Answers

I. Choose the Correct Answers

Question 1.
Choose the type of entrepreneur that isn’t based on function
a) Innovative
b) Classical
c) Fabian
d) Drone
Answer:
c) Fabian

Question 2.
Choose the type of Entrepreneur that is not based on Motivation:
a) Pure
b) Corporate
c) Spontaneous
d) Induced
Answer:
c) Spontaneous

Question 3.
Which of the following is the Activity of a Business Entrepreneur?
a) Production
b) Marketing
c) Operation
d) All of the above
Answer:
d) All of the above

Question 4.
Find the odd one out in context of Trading Entrepreneur.
a) Selling
b) Commission
c) Buying
d) Manufacturing
Answer:
d) Manufacturing

Question 5.
Corporate Entrepreneur is also called as ………………
a) Intrapreneur
b) Promoter
c) Manager
d) Shareholder
Answer:
c) Manager

Question 6.
Poultry, Flowers, Fruits etc are called allied Products of …………………. entrepreneur.
a) Corporate
b) Retail
c) Trading
d) Agricultural
Answer:
d) Agricultural

Question 7.
………………….. Entrepreneur Supply Serviçes Unlike.
a) Hoteliers
b) Banking
c) Airlines
d) Livestock
Answer:
d) Livestock

Question 8.
Motive of a Pure Entrepreneur is
a) Rendering service
b) Earning profit
c) Attaining status
d) Both b&c
Answer:
d) Both b&c

Question 9.
Which of these is based on Technology?
a) Modern
b) Professional
c) Corporate
d) Industrial
Answer:
c) Corporate

Question 10.
Which of the below is not a Characteristic of a Fabian Entrepreneur?
a) Conservative
b) Risk averse
c) Sceptical
d) Adaptive
Answer:
d) Adaptive

II. Very Short Answer Questions

Question 1.
What is the other name of a business entrepreneur?
Answer:
The term entrepreneur means the person who takes steps for commencing the business. So he is otherwise called an organiser or proprietor.

Question 2.
Mention the other name for the corporate entrepreneur.
Answer:
Corporate Entrepreneur is also called “PROMOTER”.

Question 3.
Who are agricultural entrepreneurs?
Answer:
Agricultural entrepreneurs are those entrepreneurs who raise farm products and market them.

Question 4.
State the name of the following ventures:
Answer:

• Started by individuals for-profit motive – Private Entrepreneur
• Started by Government -State Entrepreneur
• Started by individuals and Government together – Joint Entrepreneur
• Started as a family business – Classical Entrepreneur

Question 5.
Give some examples of pure entrepreneurs.
Answer:
Dhirubhai Ambani, Jamshedji Tata, T.V. Sundaram Iyengar, Seshadriji, Birla, Narayanamurthi, and Azim Premji are few examples of pure entrepreneurship.

III. Short Answer Questions.

Question 1.
Who is a private entrepreneur?
Answer:

• Venture started by individual either alone or collectively at their own risk after mobilising various resources in order to earn profit are called “Private Entrepreneur”
• (e.g) Mr. Sridhar Vembu – Zotto

Question 2.
How does a professional entrepreneur operate?
Answer:

• Professional Entrepreneur is one who is having rich expertise in starting a venture but lack interest in continuing the venture as an owner.
• He/She Simply sells out the venture started by him/her to someone else after its successful take-off.
• They keep on conceiving new ideas to develop alternative projects.
• (e.g) Mr. Srini Raju – Professional Entrepreneur.

Question 3.
Explain about the imitative entrepreneur.
Answer:

• Imitative entrepreneur is one who simply imitares existing skill, knowledge or technology already in place in advanced countries.
• A simply re-engineer or redesign the products developed in advanced countries and produce a version to their local conditions.
• For Example, Many electronic products invented in advanced arteries are simply re-engineered in developing countries.

Question 4.
Write about Fabian Entrepreneur?
Answer:
Fabian Entrepreneur:

• These entrepreneurs are said to be conservatives and skeptical about plasticisìng any change in their organisation.
• They are of a risk-averse type. They do not simply change to the changes happening in the environment.
• But they adapt themselves to the changes only as a last resort when they fear that non-adaptability to changes will inèvitably lead to loss or collapse of the enterprise.

IV. Long Answer Questions

Question 1.
Explain in detail classification according to the type of business
Answer:
Classification of Entrepreneur according to the type of business:

1. Business Entrepreneur: He is called a solo entrepreneur. He is the one who finds out an idea for a new product or service and establishes a business enterprise.
2. Trading Entrepreneur: Trading entrepreneurs are those who restrict themselves to buying and selling finished goods.
3. Industrial Entrepreneur: These are entrepreneurs who manufacture products to cater to
4. Corporate Entrepreneur: He is called a promoter. He takes initiative necessary to start an entity under a corporate format.
5. Agricultural Entrepreneur: These entrepreneurs are those who raise farm products and market them.

Question 2.
Discuss the nature of functional entrepreneurs.
Answer:
Innovating Entrepreneur: [Mrs. Kiran Mazumdar Shaw – BIOCON Ltd]

• An innovative Entrepreneur is one who is always focused on introducing a new project or introducing something new in the venture already started.
• Their innovation may take the form of Brand New product, upgraded product, Discovering untapped market, New method of production, New method of distribution of product, simplification of complex process and so on.

Imitative Entrepreneur: [Mr. Kavin Bharti Mittal – Hike Messenger – Imitated Whatsapp]

• An imitative Entrepreneur is one who simply imitates existing – skill – knowledge or Technology already in place in advanced countries.
• He simply re-engineers or re-designs the products developed in advanced countries and produces a version suited to their – local conditions.

Fabian Entrepreneur: [Narasus Coffee – KONAR TAMIL GUIDE]

• These Entrepreneurs are said to be conservatives and not easily convinced about plasticizing any change in their organisation.
• They do not simply change to the changes happening in the environment.
• But they adapt themselves to the changes only as a last resort when they fear that non-adaptability to changes will inevitably lead to loss or collapse of the enterprise.
• They are of a risk-averse type.
• They would like to follow [customs-Religion-Tradition] in the footsteps of predecessors.

Drone Entrepreneur: [Gopal Tooth Powder – Iruttu Kadai Halwa – Thirunelveli]

• Drone Entrepreneurs are those who are totally opposed to changes unfolding in the environment.
• They used to operate in the NICHE Market.
• The only difference between Fabian and Drone is Fabian – adapts to changes eventually as a last resort.
• Drone – never adapts himself to change.

12th Commerce Guide Types of Entrepreneurs Additional Important Questions and Answers

I. Choose the Correct Answers

Question 1.
Find the odd one out from the context of Technological Entrepreneurs.
a) Technical
b) Non-Technical
c) Professional
d) Classical
Answer:
d) Classical

Question 2.
Pick the odd one out from the context of Entrepreneurs based on Ownership.
a) Private
b) Government
c) Joint
d) Modern
Answer:
d) Modern

Question 3.
Poultry, Fishery, Piggery, Cattle, Flower, Fruits, Honey, etc. are examples for ……………… Entrepreneur.
a) Business
b) Trade
c) Service
d) Agriculture
Answer:
d) Agriculture

Question 4.
The entrepreneurs classified on the basis of type of business are __________
(i) Industrial entrepreneur
(ii) Technical entrepreneur
(iii) Professional entrepreneur
(iv) Business entrepreneur
(a) (i) and (iii)
(b) (i) and (iv)
(c) (ii) and (iii)
(d) (ii) and (iv)
Answer:
(b) (i) and (iv)

Question 5.
Promoter is called as ………………… Entrepreneur.
a) Business
b) Corporate
c) Trade
d) Industrial
Answer:
b) Corporate

Question 6.
A solo entrepreneur is also called as ……………….. Entrepreneur.
a) Retail
b) Service
c) Business
d) Technical
Answer:
C) Business

Question 7.
Hoteliers, Airlines, Financial providers, Advertising Firms, Beauty Parlour, Motor Repairers are an example for ………………… Entrepreneur.
a) Service
b) Corporate
c) Modern
d) Government
Answer:
a) Service

8. Which one of the following is correctly Matched?
a) Business Entrepreneur – Takes up production operation
b) Trade Entrepreneur – Buying and selling
c) Industrial Entrepreneur – Value addition
d) Retail Entrepreneur – Started by the Government
Answer:
d) Retail Entrepreneur – Started by the Government

II. Match the following.

Question 1.

a) i-4, ii-3, iii-2,iv-1
b) i-4, ii-2, iii-3, iv-1
c) i-3, ii-4, iii-1, iv-2
d) i-2, ii-3, iii-4, iv-1
Answer:
a) i-4, ii-3, iii-2,iv-1

Question 2.

a) i-4, ii-3, iii-2, iv-1
b) i-3, ii-4, iii-1, iv-2
c) i-2, ii-1, iii-4, iv-3
d) i-1, ii-2, iii-3, iv-4
Answer:
a) i-4, ii-3, iii-2, iv-1

III. Assertion and Reason

Question 1.
Assertion (A) : Spontaneous Entrepreneurs have a natural inclination to start the venture.
Reason (R) : Their inner urge and inborn traits drive them to start the venture.
a) (A) and (R) are True. (R) is the correct explanation of (A).
b) (A) and (R) are False.
c) (A) is True and (R) is False
d) (A) and (R) are True. (R) is not the correct explanation of (A)
Answer:
a) (A) and (R) are True. (R) is the correct explanation of (A).

IV. Very Short Answer Questions

Question 1.
Who is a service entrepreneur?
Answer:
The entrepreneurs enter into the business of giving service products to end consumers. Example: Banking, Insurance and Transport services.

Question 2.
Who is First Generation Entrepreneur?
Answer:
A person who starts venture by virtue of his knowledge, skills, Talents and Competence without any family background or prior exposure to the venture initiated by him.

Question 3.
Who is a modern Entrepreneur?
Answer:
A person is one who keenly observes the dynamics of the market with eagle eye and identifies the unfilled gaps if any in product or service marketing.

Question 4.
Who is Classical Entrepreneur?
Answer:

• A person is one who starts his own venture as a family Business. They are called Life Timers.
• They engage in business as a matter of routine.

V. Short Answer Questions

Question 1.
Write Short notes on:
a) State Entrepreneur
b) Joint Entrepreneurship
Answer:
a) State Entrepreneurship:

• Ventures Marled government in various formats like Government Company, Public Corporation or Departmental Organisations.
• (e.g) BHEL – RBI – Railways.

b) Joint Entrepreneurship:
Ventures Started and owned by both private individuals and the Government.

Question 2.
Who are technical entrepreneurs?
Answer:
Technical entrepreneurs are those craftsmen like welder, fitter, turner, carpenter and goldsmith, photographer, a weaver who start small business. They manufacture products/services of high quality. They simply focus on production rather than on marketing.

Question 3.
List down few examples of pure entrepreneurship.
Answer:

• Mr. Dhiruhai Ambani Reliance Industries.
• Mr. JRD. Tata – Tata Groups
• Mr. N.R. Narayana Murthy – Infosys
• Mr. T.V. Sundaram Iyengar – TVS Groups
• Mr. Birla – Birla Groups
• Mr. Nandan Nilekani – Infosys

Question 4.
Explain about the agricultural entrepreneur.
Answer:
Agricultural entrepreneurs are those who raise farm products and market them.

• They use various inputs like labour, Feritilizer, insecticide, seeds, etc.
• I hey sell the products through Brokers. Co-operative Entities or directly.
• He raises allied products like Poultry, fishery (‘aiding, Piggery, flowers, fruits, etc
• (e.g) Mr. R. Govinda Raj Sri Krishna Integrated farm – Nagapattinam.

VI. Long Answer Questions

Question 1.
Explain the classification of Entrepreneurs according to Technology Adopted.
Answer:
Technical Entrepreneur: [Mr. Vishaal Meiwani – Combatant Gentlemen]

• Technical Entrepreneurs are such of those CRAFTSMEN like Fitter – Electrician – Welder – Potter –  Photographer –  Weaver and so on –  who start small ventures of High Quality
• They simply focus on production rather than on marketing.

Non-Technical Entrepreneur: [Ms. Suchi Mukherjee – Limeroad]
Non-Technical Entrepreneurs are those who do not possess any technical competence to produce goods/services but have special talents to market the products successfully to channel members and end consumers.

Professional Entrepreneur: [Mr. Srini Raju]

• Professional Entrepreneur is one who is having rich expertise in starting a venture but lack interest in continuing the venture as an owner.
• He simply sells out the venture started by him to someone else after its successful Take-off.
• They keep on conceiving new ideas to develop alternative projects.

Question 2.
Explain the classification of Entrepreneurs according to Motivation.
Answer:
Pure Entrepreneur: [Mr. N.R. Narayana Miirthy – INFOSYS]

• Pure Entrepreneurs are individuals who are propelled to enter into a venture by psychological and Economical motives.
• Their egos do not permit them to work for somebody else.
• Their aims are to earn more profit and to attain social status.

Induced Entrepreneur:

• An Induced Entrepreneur is one who is inspired to take up the venture, attracted by the Government concessions and incentives.
• The Government provides loans at a nominal rate of interest, subsidies, tax breaks, Tax holidays, Technology from abroad, etc.

Motivated Entrepreneur: [Mr. A.D. Padmasingh Isaac – Aachi Group of Companies]

• Motivated Entrepreneurs are those motivated to take up a venture by the desire for self-fulfillment.
• They are motivated to produce and market products or services by the sheer prospect of Making Huge Profits.

Spontaneous Entrepreneur:

• These Entrepreneurs have a natural inclination to start the venture.
• They are supposed to be BOLD, optimistic, and enterprising people.
• They have a passion for meeting challenges.
• Their inner urge and inborn traits drive them to commence their ventures.

Question 3.
Distinguish between the rural and urban entrepreneur. [AB] [ICE]
Answer:

Question 4.
Explain the various types of Entrepreneurs?
Answer: