Karan, a rural boy, identifies the potential of organic farming in the village. He meets the zonal agricultural officer, who, looking at the determination of this 20 years old, helps him arrange and procure multiple resources required for his farm land. Then Karan takes a loan of Rs. 50,000/- from SBI as his seed money of Rs. 10,000/- is not enough to cater the requirement. Karan ties up with a nearby city’s vegetable shop owner to sell his yield. His hard work pays and the organic vegetables are a hit. This organic vegetable producer exhibits to be a good entrepreneur with good entrepreneurial skills. Do you agree? Justify giving reasons for your answer.
Answers
Karan, a rural boy, identifies the potential of organic farming in the village. This organic vegetable producer exhibits to be a good entrepreneur with good entrepreneurial skills.
Yes, this statement is justified as he first identified the opportunity and took the risk of starting organic farming , arranged finance for his venture he took a loan of Rs. 50,000/- from SBI and worked hard. His organic vegetables were a hit. This indicates that his entrepreneurial venture had been successful and that his hard work has paid off.
Hope this answer will help you.
Here are some more questions from this chapter :
Why are entrepreneurs called agents of progress for a nation? What role do they play in the Nation’s development?
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Shivi, a dropout from 10th std is forced by her mother to start working as help. Shivi agrees on the condition to do only "cooking" in 2-3 houses. One family turns out to be Punjabi, other Gujarati and the third one is Rajasthani. She cooked their kinds of food for an year and to everyone’s surprise, she expressed her desire to open up a small eating joint of her own. All alone, determined, she finally opens "Apna Bhoj", a small eating joint with her savings and it became a hot spot because of the fusion food platter being offered. Do you think Shivi is an entrepreneur? Give reasons for your answers.
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Answer:
No Karan is not an entrepreneur as he doesn't innovate anything new. He is merely doing business