INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Indian Administration Officers
|
|
|
Professional Managers
|
|
|
Next generation
|
|
|
None of the above
|
Detailed explanation-1: -Family business always interested to handover the change of his business to: Indian Administration Officers.
Detailed explanation-2: -Answer: Family business always interested to handover the change of his business to: Next Generation. Explanation: Family business generally revolves around the fund given by the family members.
Detailed explanation-3: -Family unity Holding regular family meetings. Educating family members about the business. Building conflict-resolution skills. Learning about the components of good communication.
Detailed explanation-4: -Innovators Such entrepreneurs tend to be extremely passionate and obsessive, deriving their motivation from the unique nature of their business idea. Innovative entrepreneurs also find new ways to market their products by choosing product differentiation strategies that make their company stand out from the crowd.
Detailed explanation-5: -1: Plan. It’s surprising just how many family businesses haven’t put time into planning for succession. 2: Empower the next generation. 3: Choose your successor carefully. 4: Communicate. 5: Step back.