Subject: Entrepreneurship
Introduction to Entrepreneurship Questions
Group A: Very Short Questions
1. (2023 Fall Q. No. 1) List out the government agencies supporting entrepreneurship development in Nepal.
Answer: The government agencies supporting entrepreneurship development in Nepal are as follows:
i. National Planning Commission (NPC)
ii. Trade and Export Promotion Center (TEPC)
iii. Department of Cottage and Small Industries (DCSI)
2. (2023 Spring Q, No. 1) List out any five types of entrepreneurs.
Answer: The types of entrepreneurs are as follows:
i. Innovative Entrepreneur
ii. Imitative Entrepreneur
iii. Social Entrepreneur
iv. Technical Entrepreneur
v. Small Business Entrepreneur
3. (2023 Spring Q. No. 2) How does an entrepreneur differ from an intrapreneur? List out any 3 differences.
Answer: The differences between entrepreneur and intrapreneur are as follows:
| Entrepreneur | Intrapreneur |
|---|---|
| They start and own their own business. | They innovate and develop ideas within a company. |
| Entrepreneurs bear personal financial and business risks. | Intrapreneurs face minimal personal risk as the company supports them. |
| Entrepreneurs have full independence in decision-making. | Intrapreneurs work under the rules and structure of the organization. |
4. (2023 Spring Q. No. 9) Entrepreneurs lead to balanced economic development. Mention any three points.
Answer: Entrepreneurs lead to balanced economic development in the following ways:
i. Increases savings
ii. Encourages investment
iii. Supports economic growth
iv. Promotes capital formation
5. (2022 Fall Q. No. 10) Define social entrepreneurship with one example.
Answer: Social entrepreneurship refers to the practice of creating and managing ventures that aim to solve social, environmental, or cultural issues while generating profits. These entrepreneurs focus on making a positive impact on society. For example, the Naya Nepal Foundation is a social entrepreneurship that helps poor people in villages by giving them better education, healthcare, and farming skills.
6. (2021 Spring Q. No. 1) List out any four importance of entrepreneurship.
Answer: The importance of entrepreneurship are as follows:
i. Promotes job creation
ii. Encourages economic growth
iii. Fosters innovation
iv. Promotes capital formation
7. (2021 Spring Q. No. 2) What do you mean by the term intrapreneurship?
Answer: Intrapreneurship means acting like an entrepreneur while working in a company. Intrapreneurs are employees who come up with new ideas, products, or services and work on them within the company. They use the company’s resources to create something new, just like an entrepreneur would do on their own.
8. (2020 Fall Q. No. 1) Distinguish entrepreneurship and intrapreneur.
Please see 2023 Spring Q. No. 2
9. (2020 Fall Q. No. 6) List some of the ethical responsibilities of companies.
Answer: The major ethical responsibilities of companies are as follows:
i. Ethical Decision-Making
ii. Honesty and transparency
iii. Fair treatment of individuals
iv. Protecting customer privacy
v. Supporting community development
10. (2019 Spring Q. No. 1) List out five features of an entrepreneur.
Answer: The features of an entrepreneur are as follows:
i. Hardworking
ii. Desire for High Achievement
iii. Highly optimistic
iv. Independent
v. Foresight
vi. Good Organizer
vii. Innovative
11. (2019 Fall Q. No. 1, 2018 Spring Q. No. 1, 2018 Fall Q. No.1) What is entrepreneurship?
Answer: Entrepreneurship is the act of identifying a business opportunity, gathering resources, and creating a new business. It involves taking risks and being innovative to meet consumer demands and create value. It drives economic growth and creates jobs.
12. (2017 Fall Q. No.1) Who are entrepreneurs?
Answer: An Entrepreneur is a person who recognizes a viable idea for a business product or service and carries it out. Any person of any age who starts and operates a business is an entrepreneur.
13. (2017 Fall Q. No. 2) Differentiate entrepreneurs with managers.
Answer: The differences between entrepreneurs and managers are as follows:
| Entrepreneurs | Managers |
|---|---|
| Entrepreneurs start new businesses and take risks. | Managers run existing businesses and make sure everything works well. |
| Entrepreneurs look for new ideas and opportunities. | Managers follow plans and ensure daily tasks are done. |
| Entrepreneurs work alone and make big decisions. | Managers work with teams and follow company rules. |
14. What are the entrepreneurial functions of an entrepreneur?
Answer: The entrepreneurial functions of an entrepreneur are as follows:
i. Taking initiative
ii. Risk Bearing
iii. Bring innovation
iv. Decision making
Group B: Descriptive Answer Questions
(2023 Fall Q. No. 17) What background characteristics are expected in a person to be present in order to be identified as an entrepreneurial stuff? – Answer (Click Here)
(2023 Spring Q. No. 11) Define entrepreneurship. Explain the various traits of a successful entrepreneur. – Answer (Click Here)
(2022 Fall Q. No. 11) In what ways entrepreneurs play a pivotal role in the economic development of a nation? Explain with suitable examples. – Answer (Click Here)
(2021 Spring Q. No. 11) “Entrepreneurship plays a vital role in the economic development of a country.” Discuess. – Answer (Click Here)
(2020 Fall Q. No. 11, 2019 Spring Q. No. 11, 2018 Spring Q. No. 11, 2017 Fall Q. No. 11) Explain the role of entrepreneurship in the economic development of a country like Nepal. – Answer (Click Here)
(2020 Fall Q. No. 12) Imagine you are planning to start new business. Describe the entrepreneurial process relating to your start-up. – Answer (Click Here)
(2019 Fall Q. No. 11) What could be the role of entrepreneurship in the economic development of Nepal under new political setup? Justify your answer with a suitable example.
See 2020 Fall Q. No. 11
(2019 Fall Q. No. 14) Differentiate between intrapreneurship and entrepreneurship. Explain the factors that create a climate for entrepreneurship within the organization. – Answer (Click Here)