Question 1

Which is the methods for creativity?

Accepted Answer

All the options listed (Brainstorming, General group processing, Synetics method, and Creative decision making) are recognized methods for fostering creativity. Each of these techniques is designed to stimulate creative thinking and generate innovative ideas in a group or individual setting.

Question 2

The psychological factor of entrepreneurship includes ____________________

Accepted Answer

The psychological factors of entrepreneurship encompass innovation, a high achievement drive, organization building, and a desire to influence others. These elements are crucial in shaping an entrepreneur's mindset and actions.

Question 3

Which is the part of society?

Accepted Answer

All of these options (Owner of the business, Suppliers, Government, Customers) are parts of society as they all play significant roles within the social and economic structures of communities.

Question 4

Which is the element of social responsibility?

Accepted Answer

Elements of social responsibility include going beyond the limits of the law, recognizing the role of businesses as social institutions, acting with morality and good faith, and engaging in a continuous process of ethical behavior and improvement.

Question 5

Which is the factors affecting the plant layout?

Accepted Answer

All of the options listed (managerial policies and decisions, nature of plant location, plant environment, and factory environment) are factors that can affect plant layout. These elements influence how a plant is organized and operated to ensure efficiency, safety, and productivity.

Question 6

Volume of production includes _______________________________

Accepted Answer

Volume of production encompasses various production types, including job production (customized, one-off items), batch production (producing a set quantity of items at a time), and mass production (producing large quantities of standardized products). These are all methods to manage and organize production volumes.

Question 7

Which is the determinants of plant lay-out?

Accepted Answer

The determinants of plant layout include the nature of the product, the nature of machines and equipment, the available space, and the need for balance in the production process. All these factors are crucial in designing an efficient and effective layout.

Question 8

Which is the tools of plant lay out?

Accepted Answer

All of these options (Flow charts, Process flow diagram, Templates, Machine data card) are tools used in planning and organizing the layout of a plant. They help in visualizing the process flow, arranging equipment, and ensuring efficient use of space and resources.

Question 9

Which is the step of procedure of plant layout?

Accepted Answer

The procedure of plant layout involves all the given steps: determining objectives, studying material lists, forming an overall plan, and selecting the plant. These steps are integral to designing an efficient and effective layout.

Question 10

"Innovation is the 'super star' of entrepreneurship" who said

Accepted Answer

Peter F. Drucker is widely recognized for his contributions to management theory and practice, and he emphasized the importance of innovation in entrepreneurship.

Question 11

Which is the balance points of entrepreneurship?

Accepted Answer

Entrepreneurship plays a crucial role in the economy by optimizing the use of resources, creating jobs, driving social changes, and addressing socio-economic challenges, making all the listed options correct aspects of its balance points.

Question 12

Which is the central level of organization for the support of entrepreneurs?

Accepted Answer

All of these organizations, AISIB, SIDO, SISI, and NSIC, play a central role in supporting entrepreneurs by providing various forms of assistance such as financial support, technical advice, and business development services.

Question 13

Who is the chairman of the "All india small scale industries board"?

Accepted Answer

The chairman of the All India Small Scale Industries Board is typically a Central Minister, often the Minister of Micro, Small and Medium Enterprises (MSME).

Question 14

All india small scale industries board is a _____________________________

Accepted Answer

The All India Small Scale Industries Board is an advisory committee that provides guidance and recommendations on the development and promotion of small-scale industries in India.

Question 15

Which is the apex body in India for the setting the policy in respect of entrepreneurship development?

Accepted Answer

The answer of Which is the apex body in India...

Question 16

Which is the entry barrier of industry structure?

Accepted Answer

All of these options represent barriers to entry in an industry. Economics of scale, proprietary product differences, brand identity, and switching costs can all deter new competitors from entering a market by making it more difficult or expensive to compete.

Question 17

An entrepreneur can utilize strategies including _______________________

Accepted Answer

Entrepreneurs can utilize a variety of strategies to enhance their business, including rent-seeking strategies to maximize profits without creating new wealth, growth strategies to expand their business, and quality strategies to improve their products or services. Therefore, all of these strategies are applicable.

Question 18

Strategic management includes ________________________

Accepted Answer

Strategic management encompasses all the given options: strategy formulation, planning, analysis, and strategy implementation, as they are integral parts of the strategic management process.

Question 19

_____________________means identifying and imitating the best in the world at specific tasks & functions

Accepted Answer

Benchmarking involves identifying and imitating the best practices in the world at specific tasks and functions. It is a process of measuring an organization's internal processes and performance data against industry leaders or best practices from other industries to identify areas for improvement.

Question 20

The stage of assessing entrepreneurial opportunities include ______________________

Accepted Answer

The stage of assessing entrepreneurial opportunities includes identifying resources, analyzing capabilities, evaluating competitive advantage, and developing a strategy. These components are crucial for understanding the feasibility and potential success of a new business venture.

Quiz 4: Creativity, Entrepreneurship, and Plant Layout