Small Business Test - 23

Any type of business starts with an Idea. So the first step of entrepreneurial firm is seed stage means having a business idea. The second step follows with the establishment of a start up business with the idea generated in the first step.  Every business has an early stage which becomes the third stage. After sustaining every ups and downs in the early stage, the business gains an established phase and then it converts in to a corporate.

To be an Entrepreneur is a challenge in itself. It needs to have some important characteristics to be a successful entrepreneur. The traits are:-

Ownership/title of the goods is passed to the buyer if there is a legal sales done. Once the goods is passed to the buyer against sale, it is the responsibility of buyer to sale the same it his own risk.

characteristic are:

To be an Entrepreneur is a challenge in itself. It needs to have some important characteristics to be a successful entrepreneur. The traits are:-

A juggler is well known for balancing several activities. The juggler entrepreneur likes the concept that the business gives them a chance to handle everything themselves. They are usually people with lots of energy and exist on the pressure of meeting deadlines,paying bills and of course making payroll.

Regional Rural Banks that were set up in the rural area of the country was facing many problems related to the branch expansion, slow progression, Procedural rigidities, and Difficulties in deposit mobilisation. 

For this, the committees that were associated with the RRB’s pointed out the shortcomings of the RRB’s and gave many suggestions and recommendations that could improve the working of RRB’s in the country.

In June 1977, the Reserve Bank of India appointed a committee to monitor the working of RRB.  Professor M.L. Dantwala headed it and the committee submitted a report to the Reserve Bank of India with some important suggestions like Providing rural credit in a more efficient manner, Sponsoring banks should provide training to the staff of the RRB, The RRB should adequately recruit technical staff, etc.

The Working Group on RRBs i.e. the Kelkar Committee in 1984 recommended that small and uneconomic RRBs should be merged in the interest of economic viability and with this suggestion the government of India stops its further establishments of Regional Rural Banks in India so that no further problem can be there associated with the RRB’s.

According to the Khusro Committee, which was led by Dr. A.M. Khusro there was no place for RRB in the country rural system in near future and they should be merged with sponsored banks.

Thus all of the above options are correct. 

Key characteristics of an Intrapreneur:
1) Intrapreneurship is a novel way of making organizations more profitable where imaginative employees entertain entrepreneurial thoughts.
2) An intrapreneur thinks like an entrepreneur looking out for opportunities, which profit the organization.
3) It is in the interest of an organization to encourage intrapreneurs.
4) Intrapreneurship is a significant method for companies to reinvent themselves and improve performance.
5) In intrapreneurship there is backing from the headquarters so there is less chances of failure.
6) Intrapreneurs create wealth for Company
7) Intrapreneurs are responsible for keeping companies current.

Schumpter viewed entrepreneurship as a force of "creative Destruction". The entrepreneurs carry out "new combinations", thereby helping render old industries obsolete. Established ways of doing business are taken over by innovations and new ideas.

Some characteristics that an entrepreneur needs to have are:-