RBSE Solutions Class 12 Business Studies Chapter 12 Entrepreneurship Development Programme-Meaning, Objectives and Importance

RBSE Class 12 Business Studies Chapter 12 Textbook Exercise

RBSE Class 12 Business Studies Chapter 12 Very Short Answer Type Questions

 

Question 1. What is Entrepreneurship Development Programme?
Answer: An Entrepreneurship Development Programme (EDP) helps identify people who could become entrepreneurs. It then provides them with the necessary skills and knowledge to start and successfully manage different businesses.
In simple words: An EDP finds future business owners and teaches them what they need to know to start and run a company.

🎯 Exam Tip: Clearly define EDPs by mentioning their two main functions: identifying potential entrepreneurs and equipping them with skills.

 

Question 2. State any two objectives of Entrepreneurship Development Programme.
Answer: Two main objectives of an Entrepreneurship Development Programme are:
1. To promote and support the first generation of entrepreneurs and business people.
2. To help people develop important entrepreneurial qualities like leadership and innovation.
In simple words: EDPs aim to create new entrepreneurs and help people gain skills needed for business.

🎯 Exam Tip: When listing objectives, choose clear and distinct points that highlight different aspects of EDPs.

 

Question 3. What are small and medium-scale industries?
Answer: Small and medium-scale industries are businesses where the cost of their plant and machinery is up to one crore rupees, and in some specific cases, it can be up to five crore rupees. These industries are important for local economies.
In simple words: These are businesses with a certain limit on how much money they spend on machines and factories, typically up to one or five crore rupees.

🎯 Exam Tip: Remember the specific financial thresholds for plant and machinery costs that define small and medium-scale industries, as this is a key differentiator.

 

Question 4. What is meant by Industrial Environment?
Answer: The industrial environment refers to the overall conditions that support the creation of new businesses and help existing businesses grow and improve. It includes factors that affect industry development.
In simple words: Industrial environment means how easy it is for new companies to start and for old companies to expand.

🎯 Exam Tip: Focus on the two key aspects of industrial environment: establishment of new enterprises and growth/development of existing ones.

RBSE Class 12 Business Studies Chapter 12 Short Answer Type Question

 

Question 1. Discuss briefly the objectives of Entrepreneurship Development Programme (EDP).
Answer: The main objectives of entrepreneurship development programmes are as follows:
1. To encourage and support the first generation of entrepreneurs and industrialists.
2. To help individuals develop important entrepreneurial qualities.
3. To assist in setting up new businesses and creating project plans.
4. To help enterprises grow in all parts and sectors of the country.
5. To offer training for managing a business and for marketing its products.
6. To support the growth of small-scale and cottage industries.
7. To provide solutions for problems and questions entrepreneurs may have.
8. To share information about government plans and schemes with entrepreneurs.
In simple words: EDPs aim to create new entrepreneurs, help them grow, develop their skills, support small businesses, and inform them about government help.

🎯 Exam Tip: When discussing objectives, list distinct points and provide a brief explanation for each to show comprehensive understanding.

 

Question 2. State the role of entrepreneurship development programmes in developing the economy.
Answer: Entrepreneurship is considered crucial for economic development. Entrepreneurship Development Programmes (EDPs) are very effective in producing entrepreneurs who can speed up economic growth. These programmes provide the tools and knowledge needed for individuals to contribute to the economy.
In simple words: EDPs create more entrepreneurs, which helps the country's economy grow faster and stronger.

🎯 Exam Tip: Highlight the direct link between entrepreneurship, EDPs, and the acceleration of economic development in your answer.

RBSE Class 12 Business Studies Chapter 12 Long Answer Type Questions

 

Question 1. Give the meaning and definition of entrepreneurship development programmes. Discuss its objectives.
Answer: In simple terms, Entrepreneurship Development Programmes (EDPs) aim to build entrepreneurial abilities in people. They involve teaching, improving, and refining the business skills needed to start and successfully manage a business. EDPs carefully identify potential entrepreneurs, provide them with training based on their needs, and offer support before and after a project starts. The main purpose of an entrepreneurship development programme is to achieve the following goals:
1. It serves as an educational process focused on developing human resources.
2. It helps in establishing new businesses and forming proper project plans.
3. EDPs boost the motivation, knowledge, and practical skills of future entrepreneurs, helping them create and successfully run their own ventures.
4. They train entrepreneurs to apply their business skills in their daily activities and decisions.
Following are the main objectives of Entrepreneurship Development Programmes:
(i) To promote first-generation entrepreneurs and industrialists: EDPs are based on the idea that entrepreneurs are made, not just born. They primarily aim to develop new entrepreneurs by offering necessary training, advice, support, and motivation.
(ii) To develop entrepreneurial qualities: EDPs identify potential entrepreneurs and, through continuous training, motivation, and counselling, help them develop the essential qualities needed. These programmes prepare them to handle uncertainties and take calculated risks for successful business operations.
(iii) To provide knowledge about government planning and programmes: Another goal of EDPs is to inform entrepreneurs about various government schemes, incentives, plans, and programmes. They also raise awareness about where entrepreneurs can get different types of information and support.
In simple words: EDPs teach people how to start and run businesses. Their goals include creating new business owners, developing their skills, supporting new ventures, and informing them about government help.

🎯 Exam Tip: Clearly distinguish between the meaning/definition of EDPs and their objectives. Structure your answer with clear headings for each part and provide concise explanations.

 

Question 1. (v) To provide knowledge about advantages and disadvantages:
Answer: Entrepreneurship Development Programmes (EDPs) inform people about the pros and cons of being an entrepreneur. They highlight the benefits and drawbacks of entrepreneurship and explain the potential challenges and problems that might arise when starting and running any business.
In simple words: EDPs teach people both the good and bad parts of starting a business and what problems they might face.

🎯 Exam Tip: Emphasize that EDPs provide a balanced view, covering both the positive (advantages) and negative (disadvantages) aspects of entrepreneurship.

 

Question 1. (vi) To provide training to operate business and marketing:
Answer: One goal of Entrepreneurship Development Programmes is to provide various training programmes. These trainings are for potential first-generation entrepreneurs, existing industrial workers, and managers. The aim is to encourage the growth of micro and small-scale businesses throughout the country.
In simple words: EDPs train new entrepreneurs and existing workers in business operations and marketing to boost small businesses.

🎯 Exam Tip: Mention the target groups for training (new entrepreneurs, existing workers/managers) and the specific outcome (promoting micro and small-scale enterprises).

 

Question 1. (vii) To develop small scale and cottage industries:
Answer: Entrepreneurship Development Programmes encourage setting up and expanding micro, small-scale, and cottage industries. They do this by helping businesses use local resources effectively. Technical skills, knowledge, financial support, and various other benefits are provided to help these industries grow in the country.
In simple words: EDPs help small local businesses and home-based industries grow by providing training, money, and other support.

🎯 Exam Tip: Focus on the promotion of small and cottage industries and the types of support offered by EDPs (skills, knowledge, finance, incentives).

 

Question 2. Elucidate the importance of entrepreneurship economic development of nation.
Answer: Entrepreneurship is seen as the foundation of economic development. An Entrepreneurship Development Programme (EDP) is an effective way to create entrepreneurs who can speed up social and economic progress. The following points highlight how EDPs are important for national development:
(i) Rapid economic and balanced development of the nation: Entrepreneurship development drives industrialization and leads to economic growth. It is also a key factor for balanced regional development. When inspired by these programmes, entrepreneurs start businesses in remote and less developed areas, which helps these regions grow in a balanced way.
In simple words: Entrepreneurship is the backbone of a nation's economy. EDPs help the country grow quickly and evenly by encouraging businesses, especially in rural areas.

🎯 Exam Tip: When explaining the importance, link entrepreneurship directly to industrialization, economic growth, and balanced regional development.

 

Question 2. (iii) Helps in capital formation:
Answer: Entrepreneurship development programmes (EDPs) equip people with all the skills and knowledge needed to start new businesses, expand existing ones, develop new products, design services, and create markets. All these activities involve gathering savings and investing them into productive and profitable ventures, which helps increase the rate of capital formation in the economy.
In simple words: EDPs teach people to start businesses, which encourages saving and investing money in useful projects, helping the country build more wealth.

🎯 Exam Tip: Connect the various entrepreneurial activities fostered by EDPs (new ventures, product development, market creation) to the broader economic benefit of capital formation.

 

Question 2. (iv) Builds Industrial Environment:
Answer: Entrepreneurship development programmes create a positive environment for entrepreneurship. Through these programmes, new businesses are set up, new technologies and inventions are introduced, and new products are promoted. Also, new markets are discovered, and new enterprises are opened in less developed areas. Existing businesses are modernized and expanded. This all leads to an increase in industrial activities, improving the overall industrial environment.
In simple words: EDPs create a good mood for business by helping new companies start, bringing in new ideas, and improving old businesses, making the industrial sector stronger.

🎯 Exam Tip: Focus on how EDPs foster a positive ecosystem by encouraging innovation, market expansion, and modernization of existing industries.

 

Question 2. (v) Development of small-scale and cottage industries:
Answer: Entrepreneurship development programmes help by providing various benefits, financial aid, and infrastructure to develop medium, small-scale, and cottage industries. Entrepreneurs receive training, skills, knowledge of government schemes, and managerial and financial support for the growth of these industries.
In simple words: EDPs help small local industries by giving them money, training, and support to grow and develop.

🎯 Exam Tip: Remember to specify the types of support provided (incentives, subsidies, infrastructure, training, knowledge) that lead to the development of these industries.

 

Question 2. (vi) Increase in employment opportunities:
Answer: Entrepreneurship development programmes offer business education and training to help people become entrepreneurs. They encourage the creation of new businesses, expansion of existing ones, and the development of new products, designs, services, and markets. This creates opportunities for self-employment and also generates jobs for others.
In simple words: EDPs teach people how to start their own businesses and create new products, which makes more jobs for everyone.

🎯 Exam Tip: Explain how entrepreneurship leads to both self-employment and job creation for others through business growth and innovation.

 

Question 2. (vii) Knowledge of legal provisions and government policies to the entrepreneurs:
Answer: To start a new business, an entrepreneur needs to know about available help, legal rules, government policies, and more. Entrepreneurship development programmes provide information on legal requirements and government policies. This makes it easier and more convenient to establish and operate businesses.
In simple words: EDPs teach entrepreneurs about business laws and government rules, making it easier for them to start and run a company.

🎯 Exam Tip: Highlight that EDPs simplify the complex process of starting a business by providing clear information on legal and policy frameworks.

RBSE Class 12 Business Studies Chapter 12 Additional Questions

 

Question 2. Objective of entrepreneurship development programme is:
(a) Development of entrepreneurial qualities
(b) Providing knowledge about government planning and programmes
(c) Helping entrepreneurs in formulation of projects
(d) All of the options
Answer: (d) All of the options
In simple words: An entrepreneurship development programme aims to help people develop business skills, understand government plans, and create business projects.

🎯 Exam Tip: Remember that EDPs have a broad range of objectives, covering personal development, knowledge acquisition, and practical support, so "All of the options" is often a correct choice in such comprehensive questions.

 

Question 3. Primary objective of entrepreneurship development programme is:
(a) To provide knowledge about advantages and disadvantages of entrepreneurship
(b) To promote first generation entrepreneurs
(c) Helping the entrepreneurs in formulation of projects
(d) To provide training of running the enterprise and distribution of products
Answer: (b) To promote first generation entrepreneurs
In simple words: The main goal of an entrepreneurship development programme is to encourage and support people who are starting their first business.

🎯 Exam Tip: Distinguish between primary and secondary objectives; often, the most fundamental aim is to create new entrepreneurs.

 

Question 4. Which is not an objective of entrepreneurship development programme?
(a) Banning the small-scale and cottage industries
(b) To provide solutions to entrepreneural problems and doubts
(c) To develop enterprises in all areas of the country
(d) None of the options
Answer: (a) Banning the small-scale and cottage industries
In simple words: Entrepreneurship programmes do not ban small industries; instead, they help them grow.

🎯 Exam Tip: Read "not an objective" questions carefully. Look for the option that contradicts the known goals of the programme.

 

Question 5. "Entrepreneurship is an important medium of social change and entrepreneurial culture." This has been said by:
(a) Arthur Cole
(b) Donald B. Trow
(c) Ribson K
(d) Yel Bozen
Answer: (c) Ribson K
In simple words: Ribson K said that entrepreneurship helps change society and build a business-minded culture.

🎯 Exam Tip: For quotation-based questions, accurately recall the author associated with the specific statement.

 

Question 6. Importance of entrepreneurship development is:
(a) Rapid and balanced economic and balanced development of nation
(b) Optimum utilisation of resources
(c) Providing knowledge of government policies and legal provisions to entrepreneurs
(d) All of the options
Answer: (d) All of the options
In simple words: Entrepreneurship development is important for fast and balanced national growth, using resources well, and informing entrepreneurs about government rules.

🎯 Exam Tip: Understand the multi-faceted importance of entrepreneurship, covering economic, resource, and informational aspects.

 

Question 7. “Entrepreneurs help in balanced development of nation.” This has been said by:
(a) Prof. Nurksey
(b) Donald B. Trow
(c) Arthur Cole
(d) None of the options
Answer: (a) Prof. Nurksey
In simple words: Prof. Nurksey stated that business owners help a country develop evenly and stably.

🎯 Exam Tip: Pay attention to specific quotes and the economists or thinkers associated with them.

 

Question 8. Reason of Japanese and Chinese economies being on the top:
(a) Entrepreneurship
(b) Abundance of natural resources
(c) Unemployment
(d) All of the options
Answer: (a) Entrepreneurship
In simple words: Entrepreneurship is the main reason why the economies of Japan and China are very strong.

🎯 Exam Tip: Recognize entrepreneurship as a key driver of economic success, especially in resource-scarce but innovation-rich economies.

 

Question 9. "Entrepreneurship is an important medium of social change and entrepreneurial culture.” This has been said by:
(a) Prof. Nurksey
(b) Donald B. Trow
(c) Arthur Cole
(d) Yel
Answer: (b) Donald B. Trow
In simple words: Donald B. Trow said that entrepreneurship is a key way to bring social change and build a business-minded culture.

🎯 Exam Tip: Note the slight variation in similar quotes and correctly attribute them to the specific individuals.

 

Question 10. Which of the following is not included in entrepreneurship development?
(a) Developing small-scale and cottage industries
(b) Capital formation
(c) Decrease in employment opportunities
(d) Rapid and balanced economic development of the nation
Answer: (c) Decrease in employment opportunities
In simple words: Entrepreneurship development does not reduce jobs; it actually creates more job opportunities.

🎯 Exam Tip: Understand that entrepreneurship generally increases, rather than decreases, employment opportunities.

RBSE Class 12 Business Studies Chapter 12 Very Short Answer Type Questions

 

Question 1. Write the primary objective of Entrepreneurship Development Programme.
Answer: The primary objective of Entrepreneurship Development Programme is to promote first-generation entrepreneurs and industrialists.
In simple words: The main goal of an EDP is to encourage new people to become business owners.

🎯 Exam Tip: State the core objective directly and concisely, focusing on the creation of new entrepreneurs.

 

Question 2. How do entrepreneurship development programmes help in formulation of projects?
Answer: Entrepreneurship programmes help in creating projects by providing necessary business knowledge and offering financial and managerial assistance.
In simple words: These programmes provide knowledge, money, and management help to entrepreneurs so they can plan their projects.

🎯 Exam Tip: Identify the key resources (knowledge, financial, managerial assistance) that EDPs provide to aid project formulation.

 

Question 3. What are Cottage Industries?
Answer: Cottage industries are small-scale manufacturing units, usually run from home or on a very small scale, often using local resources and traditional skills. They typically produce goods like handicrafts, pottery, or textiles.
In simple words: Cottage industries are small businesses run from homes, often making traditional handmade goods.

🎯 Exam Tip: Define cottage industries by emphasizing their small scale, home-based nature, and use of local resources/traditional skills.

 

Question 4. What is the role of entrepreneurship development programmes in the economic and industrial development of the country?
Answer: Entrepreneurship development programmes help increase opportunities, promote balanced industrial growth, and prepare young people to be future entrepreneurs in the country. Thus, they play a crucial role in the nation's economic and industrial development.
In simple words: EDPs are important for a country's economic and industrial growth because they create opportunities, balance development, and train future business leaders.

🎯 Exam Tip: Focus on how EDPs contribute to opportunities, balanced growth, and youth empowerment as key aspects of national development.

 

Question 5. What has been written by Arthur Cole in context to social importance of entrepreneurship development programmes?
Answer: According to Arthur Cole, "By studying entrepreneurship development programmes, our social and economic activities are strengthened." This means that understanding and implementing EDPs helps improve both societal well-being and economic performance.
In simple words: Arthur Cole said that learning about entrepreneurship programmes makes our society and economy stronger.

🎯 Exam Tip: Quote Arthur Cole's statement accurately and briefly explain its meaning in the context of social and economic strengthening.

 

Question 6. “Entrepreneur helps in rapid economic and balanced development of the nation.” Who said this?
Answer: This statement was made by Prof. Nurksey.
In simple words: Prof. Nurksey said that entrepreneurs help a country grow fast and in a balanced way.

🎯 Exam Tip: Accurately recall the author associated with the given quote about balanced national development.

 

Question 7. “Entrepreneurs increase the employment opportunities in the country.” Who said this?
Answer: This statement was made by Ribson.
In simple words: Ribson stated that entrepreneurs create more jobs in the country.

🎯 Exam Tip: For specific quotes about employment, remember the individual who stated it.

 

Question 8. “Entrepreneurship is an important medium of social change and entrepreneurial culture.” Who said this?
Answer: This statement was made by Donald B. Trow.
In simple words: Donald B. Trow said entrepreneurship is a key way to change society and build a business culture.

🎯 Exam Tip: Connect the idea of entrepreneurship as a catalyst for social change and culture to Donald B. Trow.

RBSE Class 12 Business Studies Chapter 12 Short Answer Type Questions (SA – I)

 

Question 1. Objectives of Entrepreneurship Development Programmes is providing knowledge about advantages and disadvantages of setting up their own entreprise. Explain.
Answer: One important objective of Entrepreneurship Development Programmes (EDPs) is to educate people about the benefits and drawbacks of becoming an entrepreneur. They clarify the possible challenges and problems that might occur when starting and running any business. This helps aspiring entrepreneurs make informed decisions.
In simple words: EDPs teach future business owners about the good things and bad things of starting a business so they can be prepared.

🎯 Exam Tip: Emphasize that EDPs provide a balanced perspective, enabling entrepreneurs to understand both the positive and negative aspects of their ventures.

 

Question 2. How do Entrepreneurship Development Programmes help in providing encouragement to innovation and product diversification?
Answer: Entrepreneurship Development Programmes (EDPs) promote innovation and product diversification. New products, new technologies, new markets, and modern machinery are possible only through innovation and market research. Under EDPs, entrepreneurs receive help to understand the potential of various markets and are encouraged to conduct further research and investigation. This support leads to new ideas and a wider range of products.
In simple words: EDPs encourage new ideas and different products by helping entrepreneurs research markets and develop new technologies.

🎯 Exam Tip: Highlight the link between EDPs, market research, and the resulting innovation and diversification of products and services.

 

Question 3. Why Entrepreneurship Development Programmes are said to be the basic pillar of balanced development?
Answer: Entrepreneurship Development Programmes (EDPs) are considered the basic pillar of balanced development because they inspire entrepreneurs to establish new businesses in underdeveloped and remote areas. This helps achieve balanced economic development. As Prof. Nurksey stated, "Entrepreneur helps in creating path of balanced economic development."
In simple words: EDPs are important for balanced growth because they help start businesses in undeveloped areas, spreading wealth evenly.

🎯 Exam Tip: Connect EDPs to balanced development by focusing on their role in promoting enterprises in previously undeveloped or remote regions.

 

Question 4. How optimum utilisation of resources is possible through Entrepreneurship Development Programmes?
Answer: Entrepreneurship Development Programmes (EDPs) train entrepreneurs in the best methods and techniques to use local resources efficiently. By using natural, financial, and human resources in the best possible way, EDPs contribute significantly to economic development. This ensures that no resource goes to waste.
In simple words: EDPs teach business owners how to use local resources like nature, money, and people in the best way possible to help the economy grow.

🎯 Exam Tip: Explain that EDPs enhance resource utilization by imparting efficient methods and techniques to entrepreneurs, leading to economic benefits.

 

Question 5. What is the role of Entrepreneurship Development Programmes in execution of government policies and plans.
Answer: Entrepreneurship Development Programmes (EDPs) play a crucial role in carrying out government policies and plans. Through EDPs, government policies and plans related to cottage industries are put into action. This ensures that government initiatives reach their intended beneficiaries and achieve their goals effectively. EDPs act as a bridge between government objectives and their practical implementation.
In simple words: EDPs help put government plans and policies into action, especially for small local businesses, making sure they succeed.

🎯 Exam Tip: Highlight EDPs as a vital link between government policy formulation and their effective implementation, particularly concerning specific industrial sectors.

 

Question 7. Explain the role of Entrepreneurship Development programmes in increasing employment opportunities.
Answer: Entrepreneurship development programmes (EDPs) provide entrepreneurs with education and support to establish new businesses, expand existing ones, and develop new products, designs, services, and markets. These activities create opportunities for self-employment and also generate employment for others, thereby increasing overall employment opportunities.
In simple words: EDPs create more jobs by helping people start and grow businesses, develop new products, and expand into new markets.

🎯 Exam Tip: Explain how EDPs boost employment through direct self-employment, business expansion, and the development of new offerings.

 

Question 8. Entrepreneurship Development Programmes are a medium of social change. Explain.
Answer: Entrepreneurship development programmes (EDPs) are an important way to bring about social change and foster an entrepreneurial culture. They help create a self-reliant society. Entrepreneurs, with their fresh ideas and creativity, can introduce many social changes and help people move away from old ways of thinking. By creating jobs, forming capital, and providing products at fair prices, entrepreneurship improves society's standard of living.
In simple words: EDPs change society by making people self-reliant, encouraging new ideas, creating jobs, and improving living standards through business.

🎯 Exam Tip: Focus on the transformational aspects of EDPs, such as fostering self-reliance, challenging traditional thinking, and improving quality of life.

RBSE Class 12 Business Studies Chapter 12 Short Answer Type Questions (SA – II)

 

Question 1. What is Entrepreneurship Development Programme? Explain.
Answer: Meaning of Entrepreneurship Development Programmes (EDPs): Generally, Entrepreneurship Development Programmes aim to find and identify promising young individuals from different groups. They provide these individuals with business knowledge and technical skills to help them establish new businesses and ventures, and assist them in running these smoothly. Through these programmes, entrepreneurs receive information and assistance regarding financial, human, and market aspects for the growth and expansion of their enterprise.
Following are the points to understand entrepreneurship development programme:
4. Making the entrepreneurs capable to use entrepreneurial behavior in day-to-day activities. This point means EDPs help entrepreneurs apply business skills effectively in their daily tasks.
In simple words: EDPs find young talent, teach them business skills, and help them start and grow companies, preparing them to apply these skills every day.

🎯 Exam Tip: Provide a clear definition of EDPs, covering identification, skill provision, and ongoing support. Include a brief explanation of how EDPs translate skills into practical daily application.

 

Question 2. "Entrepreneurship Development Programmes are a medium of social change". Explain.
Answer: Society consists of diverse groups of people with different beliefs and customs. Entrepreneurship helps make society self-reliant. It helps break traditional and outdated ways of thinking and shifts society towards industry-oriented mindsets. According to Donald B. Trow, "Entrepreneurship is an important medium of social change and entrepreneurial culture." In short, entrepreneurship helps in advancing society. It encourages innovation and progress.
In simple words: EDPs are a way to change society for the better by helping people become independent, think in new ways, and develop a business culture.

🎯 Exam Tip: Focus on how entrepreneurship addresses traditional thinking, fosters self-reliance, and builds an industrial mindset to explain its role in social change.

RBSE Class 12 Business Studies Chapter 12 Long Answer Type Questions

 

Question 1. Differentiate between Entrepreneurship and Management.
Answer: The differences between entrepreneurship and management are shown in the table below:

In simple words: Entrepreneurship is about starting new businesses, taking risks, and earning profits as an owner, while management is about running existing businesses, following plans, and earning a salary as an employee.

🎯 Exam Tip: When differentiating, ensure each point clearly contrasts entrepreneurship and management, using precise terms for each aspect.

(No educational content found within the specified page range. The pages primarily contain navigation links and copyright information, which are skipped as per content processing rules.)