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B.C.O.S – 185
ENTREPRENEURSHIP IGNOU BCOS 185 Solved Assignment 2023-24
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NOTE: All questions are compulsory.
Section
A
Q.1 Discuss the role of entrepreneur in employment generation.
Entrepreneurs
play a crucial role in employment generation, and their impact on job creation
is significant for both developed and developing economies. The role of
entrepreneurs in employment generation can be understood through various
aspects:
Job Creation in
Startups: Entrepreneurs often begin their journey by establishing new
businesses or startups. These startups require a range of skilled and unskilled
labor, such as employees, managers, technicians, and support staff. As these
ventures grow, they create jobs for individuals with varying skill sets and
qualifications.
Expansion of
Existing Businesses: Entrepreneurs also contribute to employment generation by
expanding existing businesses. They invest in new facilities, products, and
markets, which often necessitates hiring more workers to meet the increased
demand or to support new ventures.
Innovation and
New Industries: Entrepreneurs are often at the forefront of innovation,
creating new products, services, and technologies. These innovations can lead
to the development of entirely new industries, spurring job creation in areas
that did not exist previously. For example, the rise of the tech industry and
companies like Apple and Google has created millions of jobs globally.
Entrepreneurial
Ecosystems: Entrepreneurship fosters the growth of entrepreneurial ecosystems,
including incubators, accelerators, venture capital firms, and support
organizations. These ecosystems provide the necessary infrastructure and resources
for startups to thrive and create jobs.
Supply Chain
and Ancillary Services: Entrepreneurial ventures rely on a network of
suppliers, distributors, and service providers. These businesses, often small
and medium-sized enterprises (SMEs), benefit from the demand generated by
startups, which in turn leads to job creation in various industries.
Rural and Urban
Development: Entrepreneurs can stimulate economic activity in both urban and
rural areas. In rural regions, agricultural and agribusiness entrepreneurs can
create jobs in farming, processing, and distribution. In urban areas,
technology startups, manufacturing, and service industries create jobs and
drive economic growth.
Skill
Development: Entrepreneurs often invest in training and development programs to
equip their workforce with the necessary skills. This not only benefits the
employees but also enhances the overall skill level of the workforce in the
region, making it more attractive to potential investors and job seekers.
Encouraging
Entrepreneurship: Successful entrepreneurs often inspire others to start their
own businesses. As a result, there is a multiplier effect on job creation as
more people become entrepreneurs and hire their own employees.
Flexibility and
Adaptability: Entrepreneurs are known for their ability to adapt to changing
market conditions. During economic downturns or crises, they may pivot their
businesses to different sectors or services, helping to preserve jobs and
support local economies.
Economic
Growth: A thriving entrepreneurial ecosystem contributes to overall economic
growth, which, in turn, has a positive impact on job creation. As businesses
expand and new opportunities emerge, more people are hired to meet the growing
demand.
In conclusion,
entrepreneurs play a vital role in employment generation by creating new
businesses, expanding existing ones, driving innovation, and contributing to
the overall economic development of a region. They are key drivers of job
creation and are essential for fostering economic prosperity and reducing
unemployment. Therefore, policies and support mechanisms that encourage
entrepreneurship can have a significant impact on employment opportunities and
overall economic well-being.
Q.2 What do you understand by ‘Entrepreneurship’? Explain the
need for entrepreneurship development in India.
Q.3 Discuss the role of entrepreneurs in bringing about social stability
and balanced regional development.
Q.4 List the various marketing promotion schemes run by the
Ministry of MSME.
Q.5 “Entrepreneurship is an environment-oriented activity.”
Explain that how does economic environment assist in development of
entrepreneurship.
Section
B
Q.6 What legal formalities are to be complied by an entrepreneur
for establishment of a new unit? Explain in brief.
Q.7 State the various functions of Entrepreneur.
Q.8 What do you mean by Business Plan? How do you prepare
Business Plan?
Q.9 What are the remedies to the problems faced by women
entrepreneurs?
Q.10 Discuss the challenges faced by entrepreneurs in India.
Section
C
Q.11
Write short notes on the following:
a) SWOT Analysis.
b) Creativity
Q.12
Distinguish between:
a) Innovation and Invention
b) Entrepreneur and Manager
IGNOU
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