Entrepreneurship 249 | NIOS Solved Assignments (2021 - 2022)

NIOS Solved Assignments (2021-22)
Entrepreneurship (249)
Tutor Marked Assignment
Max Marks: 20

Note:

(i) All questions are compulsory. The Marks allotted for each question are given beside the questions.

(ii) Write your name, enrollment numbers, AI name and subject on the first page of the answer sheet.

entrepreneurship 249 solved assignment 2021 - 22

1. Answer any one of the following questions in about 40-60 words.        2
(a) What is entrepreneurial creativity? Identify its two main characteristics? (See Lesson 4)

Ans: Entrepreneurial creativity is defined as the paradigm shift in generation and implementation of novel, appropriate ideas to establish a new venture that results in the improved efficiency or effectiveness of a system. Its two important aspects are process and people.

Characteristics of entrepreneurial creativity

(a) Imaginative: Creative thinking starts with imagination as it brings about something that did not exist or was not known before, so it has to be imagined first.

 (b) Purposeful: Creative imagination must have a purpose, an objective to serve the responsibilities of the business.

(b) Explain first generation entrepreneurs with the help of an example. (See lesson – 9)

Ans: The first generation entrepreneurs are the ones that started their own businesses without any help or help of investors.

An example of a first generation entrepreneur is when an individual decided to start his own business without any help or help of investors. This may be because he was in the financial position to do so, but it could also be because he had experience in a certain field and knew what it takes to succeed in that industry.

Some first generation entrepreneurs take money from family members, friends or family friends to start their business while others take loans from local banks. It is important for these individuals to have a good idea of how much they will need for this start-up process before they begin.

2. Answer any one of the following questions in about 40-60 words.      2
(a) What is the purpose of MUDRA loan scheme? (See lesson 15)

Ans: The biggest bottleneck to the growth of entrepreneurship in the Non– Corporate Small Business Sector (NCSBS) is lack of financial support to this sector. More than 90% of this sector does not have access to formal sources of finance. GOI is setting up MUDRA Bank through a statutory enactment for catering to the needs of the NCSBS segment or the informal sector for bringing them in the mainstream.

(b) Who are social entrepreneurs? Name any two social entrepreneurs. (See Lesson 6)

Ans: Social entrepreneurs are people who use their business skills to make a positive impact on society. They do this by solving social problems that they believe in and striving to create a better world. Anyone can be a social entrepreneur and many of them come from different backgrounds and sectors including:

Ø People with disabilities,

Ø Volunteers,

Ø Diversity advocates,

Ø Lobbyists,

Ø Mentors for youths, etc.

Some of the most notable social entrepreneurs include:

1.    Muhammad Yunus - created the concept of microcredit, which has been used to help over 100 million people worldwide

2.    Al Gore - helped develop climate change awareness and solutions, including the film An Inconvenient Truth

3.    Elon Musk - co-founder of Tesla Motors and SpaceX.

3. Answer any one of the following questions in about 40-60 words.             2
(a) State the importance of E-resources in the 21st century for entrepreneurs. (See Lesson 17)

Ans: The 21st century is the century of technology. Our ability to work with Information and Communication Technologies (ICT) is making our life a lot easier. It is helping us through so many ways from weather forecast to digital marketing. Most of us enjoy working on our desktop computer, laptop and smart phone. We search a variety of information, communicate with friends and do financial transactions like paying bills or taxes online.

The government is making efforts to help new and existing entrepreneurs by creating various e-resources. These e-resources provide all necessary information on your fingertips. Entrepreneurs can also apply for government schemes and certificates through a simple online process.

(b) What is a village industry? (See Lesson 15)

Ans: A village industry is an economic term that describes an area that has close proximity to other areas where the economic activity is concentrated. These village industries are often characterized by limited market size, limited target audience, limited scale, and limited profit potential.

Village industries are also called “the hidden economy” because they often occur in areas where people do not expect business to take place.

4. Answer any one of the following questions in about 100 to 150 words.     4
(a) What lesson do you learn from the case study of ‘Lijjat Papad’ (See Lesson 9)

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(b) Does innovation help in solving social problems? Explain. (See Lesson 6)

Ans: Social problems can be solved by innovation, which is important for advancement of society. That is because it solves social problems by enhancing the society’s capacity to act. It strengthens efficient and sustainable ways for resolving collective problems. New technology plays a vital role by developing new products and services that caters to the need of society while using resources efficiently . Some real life examples are mentioned in this chapter for better understating of how social problems are tackled in real life situations and how these problems lead to developing business ideas.

5. Answer any one of the following questions in about 100 to 150 words.              4
(a) Discuss the necessity of creativity in entrepreneurship. (See Lesson 4)

Ans: Entrepreneurship requires creativity, both in the idea and the execution of an idea. However, many entrepreneurs struggle to find time for creativity. The lack of creativity in business can lead to stagnation in the long run.

Creativity has always been an important part of entrepreneurship. It’s not just about creating new products for your customers, or coming up with innovative ideas that haven’t been thought of before. Creativity is also about exploring the unknown, making connections, and opening up new doors for you and your business.

Creativity is crucial in growing a startup because it’s necessary to make connections with networks that can provide resources to grow your business into something bigger.

(b) Explain Prime Minister Employment Generation Programme (PMEGP). (See Lesson 15)

Ans: The scheme aims to generate employment opportunities in rural as well as urban areas of the country by setting up new self-employment ventures, projects or micro enterprises. It also aims:

1.    To provide continuous and sustainable employment to a large segment of traditional and prospective artisans and rural and urban unemployed youth in the country, to help arrest migration of rural youth to urban areas.

2.    To increase wage earning capacity of artisans and contribute to increase in the growth rate of rural and urban employment.

The scheme is implemented by Khadi and Village Industries Commission (KVIC) as the nodal agency at the national level. At the state level, the scheme is implemented through state bodies, District Industries Centres (DICs) and banks.  The maximum cost of the project/unit admissible under the manufacturing sector is Rs25 lakh and under business/service sector is Rs10 lakh.

6. Prepare any one project out of the given below:           6

(a) Your friend wants to start his own enterprise and become successful. Help him identify important characteristics for becoming a successful entrepreneur. (See lesson 9)

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(b) Interview 5 entrepreneurs located near you and find out the E-resources used by them for their enterprise and how it has benefitted them. (See Lesson 17)

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