Entrepreneurship Management

231. What is the role of technology forecasting in innovation?

  1. It helps in understanding the future application of existing technology.
  2. It helps in understanding the development of new technologies.
  3. It helps in understanding the market of a technology.
  4. All of the above
Correct answer: (D)
All of the above

232. What is the innovation gap?

  1. An opening that rivals might exploit
  2. The time that elapses between invention and innovation
  3. A nation's lack of inventiveness
  4. An opening that can be exploited by an entrepreneur with a good idea
Correct answer: (D)
An opening that can be exploited by an entrepreneur with a good idea

233. Which of the following is correct?

  1. Technology is the use of engineering knowledge for wealth generation.
  2. Innovations are scientific inventions.
  3. Innovations are new ideas.
  4. Innovations are new ideas.
Correct answer: (A)
Technology is the use of engineering knowledge for wealth generation.

234. "Realizing that solid waste management is poor in India, some reasons were identified. One of the reason is almost zero segregation of waste at source. Waste segregation after collection is a very difficult task." How will you use this observation in challenge book?

  1. Waste of efforts in segregation
  2. Pain of citizens for poor solid waste management
  3. Opportunity to use latest technology for Solid waste management
  4. All of the above
Correct answer: (D)
All of the above

235. Which of the following is correct?

  1. Science is a systematic way of studying any phenomenon.
  2. Science is all about experimentation.
  3. Science is concerned with explaining things in a rational manner.
  4. All of the above
Correct answer: (D)
All of the above

236. What is the general shape of a technology life cycle?

  1. S curve
  2. Normal distribution curve
  3. Bell curve
  4. Straight line
Correct answer: (A)
S curve

237. According to MSME Act in India, what is the limit of investment in plant and machinery for a micro enterprises involved in manufacturing?

  1. Rs 5 lakhs
  2. Rs.20 lakhs
  3. Rs.25 lakhs
  4. There is no such limit in the act.
Correct answer: (C)
Rs.25 lakhs

238. Which of the following is not included in the parameters of sustainable development?

  1. Carrying capacity
  2. Inter and Intra-generation equity
  3. Gender disparity and diversity
  4. None of the above
Correct answer: (D)
None of the above

239. Innovations provide

  1. The primary means for differentiating your product from your competitors'
  2. Higher profit margins
  3. Potential barriers to entry
  4. All of the above
Correct answer: (D)
All of the above

240. Basic framework of Insights is proposed on the basis of

  1. Contentions
  2. Information
  3. Observation
  4. Connections, Contradictions and Creative Desperation
Correct answer: (D)
Connections, Contradictions and Creative Desperation
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