All questions of Entrepreneurship as Innovation and Problem Solving for Commerce Exam

Bunker Roy is the founder of the Barefoot College. The Barefoot College is a non-profit organization that provides education and training to rural communities in India and around the world. It is known for its innovative approach to education, which emphasizes practical skills and hands-on learning. The Barefoot College has gained international recognition for its work in empowering communities and promoting sustainable development.

There are numerous types of computer software that are commonly used, including:

1. Operating Systems: These are the core software that manage computer hardware and software resources. Examples include Windows, macOS, and Linux.

2. Productivity Software: These applications help users create and manage documents, spreadsheets, presentations, and databases. Examples include Microsoft Office, Google Workspace, and OpenOffice.

3. Web Browsers: These programs allow users to access and navigate websites on the internet. Examples include Google Chrome, Mozilla Firefox, and Microsoft Edge.

4. Antivirus Software: These programs protect computers from malware and viruses. Examples include Norton Antivirus, McAfee, and Avast.

5. Graphic Design Software: These applications enable users to create and edit digital graphics and images. Examples include Adobe Photoshop, CorelDRAW, and GIMP.

6. Video Editing Software: These programs are used to edit and modify videos. Examples include Adobe Premiere Pro, Final Cut Pro, and iMovie.

7. Gaming Software: These applications are designed for playing video games on computers. Examples include Steam, Epic Games Store, and Xbox Game Pass.

8. Database Management Software: These programs help users store, organize, and manage large amounts of data. Examples include Microsoft Access, MySQL, and Oracle.

9. Communication Software: These applications allow users to communicate with others over the internet. Examples include Skype, Microsoft Teams, and Slack.

10. Multimedia Software: These programs are used for playing and managing various types of media, such as music and movies. Examples include Windows Media Player, iTunes, and VLC Media Player.

These are just a few examples of the many types of computer software available. There are countless other categories and specific applications that cater to different needs and interests.

Understanding KFC
KFC stands for "Kentucky Fried Chicken," a popular fast-food chain known for its fried chicken. Here’s a detailed explanation of why the correct answer is option 'C':

Origin of the Name
- KFC was founded by Colonel Harland Sanders in 1952 in Kentucky, USA.
- The name reflects its origins, highlighting the state of Kentucky, which is renowned for its fried chicken recipes.

Menu Specialization
- KFC specializes in fried chicken, offering a unique blend of 11 herbs and spices that are a closely guarded secret.
- The menu often features various chicken dishes, sides, and complementary items, all emphasizing chicken as the main ingredient.

Brand Evolution
- Over the years, KFC has expanded its menu to include chicken sandwiches, wraps, and desserts, but the core identity remains tied to fried chicken.
- The branding and marketing strategies have reinforced the connection to its Kentucky roots, making "Kentucky Fried Chicken" synonymous with quality fried chicken.

Global Reach
- KFC has become a global icon, with thousands of outlets worldwide, adapting its menu to local tastes while maintaining its signature fried chicken offering.
- The name KFC has become a universal identifier for the brand, further solidifying its connection to fried chicken.
In summary, KFC stands for "Kentucky Fried Chicken," highlighting its American origins and specialization in fried chicken, making option 'C' the correct choice.

Role played by Arun:

Arun played the role of both an innovator and a problem solver.

Innovator:

As an innovator, Arun identified the problem of time and efficiency loss in plucking apples in his family's orchard. He recognized that a lot of time was being wasted in the traditional method of plucking apples. To address this issue, he came up with an innovative solution - a simple plucking device attached with a net and a knife. This device helped in saving considerable time and money by streamlining the apple plucking process.

Problem Solver:

Arun also played the role of a problem solver. He observed the problem of time loss in plucking apples and actively worked on finding a solution. By identifying the root cause of the problem, which was the traditional plucking method, he brainstormed and developed a practical solution to overcome it. His plucking device not only solved the problem of time loss but also contributed to cost-saving for his family's orchard.

Both (a) and (b):

Therefore, Arun's role can be identified as both an innovator and a problem solver. He innovatively designed a plucking device to address the problem of time loss, demonstrating his ability to come up with creative solutions. Additionally, he actively worked towards solving the problem by implementing his device, showcasing his problem-solving skills.

Conclusion:

Arun's role in the situation can be summarized as a combination of being an innovator and a problem solver. His innovative mindset and problem-solving abilities contributed to the development and implementation of a practical solution for the inefficiencies in apple plucking, ultimately benefiting his family's orchard.

The Invention of Microwave Ovens
The microwave oven is a revolutionary kitchen appliance that has transformed cooking methods worldwide. The credit for its invention goes to Percy Spencer, an American engineer.
Who is Percy Spencer?
- Percy Spencer was born on July 19, 1894, in Howland, Maine.
- He worked for Raytheon, a company involved in radar technology.
The Accidental Discovery
- In 1945, while working on radar systems, Spencer noticed that a candy bar in his pocket had melted.
- This unexpected observation led him to experiment with different food items, including popcorn kernels, which popped when exposed to radar waves.
Development of the Microwave Oven
- Recognizing the potential for cooking food using electromagnetic waves, Spencer and his team developed the first microwave oven.
- The first commercial model, called the "Radarange," was introduced in 1947, and it was initially used in restaurants and commercial kitchens due to its size and cost.
Impact on Cooking
- The microwave oven became more accessible for home use in the 1970s, revolutionizing food preparation.
- It allowed for faster cooking and reheating, changing household cooking habits significantly.
Conclusion
Percy Spencer's ingenuity and accidental discovery led to the creation of the microwave oven, making him a pivotal figure in modern culinary technology. His invention has not only saved time in the kitchen but has also paved the way for further innovations in food preparation.

Explanation:

Martin & Osberg:
- The quote is from Martin & Osberg, who are known for their work in the field of social entrepreneurship.
- They emphasize on the importance of creating large-scale transformational benefits for society as a whole.

Social Entrepreneur:
- A social entrepreneur is someone who pursues innovative solutions to social problems.
- They aim to create positive change in society by addressing issues such as poverty, inequality, and environmental degradation.

Value Creation:
- Social entrepreneurs focus on creating value not just in terms of financial returns, but also in terms of social impact.
- They strive to bring about meaningful and lasting change that benefits a significant portion of society.

Transformational Benefits:
- The goal of a social entrepreneur is to bring about transformational benefits that go beyond individual or short-term gains.
- These benefits can include improved access to education, healthcare, or economic opportunities for marginalized communities.

Society at Large:
- Social entrepreneurs seek to create value for society at large, rather than just for a specific group or organization.
- Their work has the potential to impact a broad range of stakeholders and contribute to the overall well-being of society.
In conclusion, the definition provided by Martin & Osberg highlights the key principles and goals of social entrepreneurship, emphasizing the importance of creating transformative benefits for society on a large scale.

Explanation:

Objective of Entrepreneur:
- The primary objective of a traditional entrepreneur is typically wealth creation through the successful operation of a business.
- Traditional entrepreneurs focus on generating profits and maximizing financial returns for themselves and their stakeholders.

Objective of Social Entrepreneur:
- Social entrepreneurs, on the other hand, have a broader objective that goes beyond just wealth creation.
- While they may still aim to generate revenue and be financially sustainable, their main goal is to create positive social or environmental impact.
- For social entrepreneurs, wealth creation is often seen as a means to an end rather than the ultimate goal.
- They prioritize addressing social issues, creating innovative solutions, and driving positive change in society.

Correct Answer:
- In this case, Vijay is correct in stating that for social entrepreneurs, wealth creation is a means to an end.
- The ultimate objective of social entrepreneurs is to bring about social change and make a positive impact, with financial sustainability being a tool to achieve these goals.

Dr Verghese Kurien is the founder of Amul Diary.
Here is a detailed explanation:
Introduction:
Dr Verghese Kurien was an Indian social entrepreneur and is widely known as the "Father of the White Revolution" in India. He revolutionized the dairy industry in India by establishing Amul, a cooperative dairy company.
Explanation:
Dr Verghese Kurien's contribution to the dairy industry and the establishment of Amul Diary can be elaborated as follows:
1. Background: Dr Kurien was born in Kerala, India, in 1921. He studied in the United States and obtained a degree in mechanical engineering from Michigan State University.
2. Amul Diary: In 1949, Dr Kurien was appointed by the Government of India to manage the struggling Kaira District Cooperative Milk Producers' Union Limited (now known as Amul). Under his leadership, Amul transformed into a successful cooperative model, empowering farmers and revolutionizing the dairy industry.
3. White Revolution: Dr Kurien's efforts led to the "White Revolution," which refers to the significant increase in milk production in India. Through the cooperative model, small-scale milk producers were organized, and their livelihoods were improved.
4. Operation Flood: Dr Kurien played a crucial role in the implementation of Operation Flood, a national program aimed at making India self-sufficient in milk production. This program resulted in India becoming the world's largest milk producer.
5. Impact: Dr Kurien's innovative approach and dedication to the cooperative movement transformed the lives of millions of farmers in India. His work not only ensured a steady supply of milk but also created employment opportunities and improved rural economies.
6. Recognition: Dr Verghese Kurien's contributions were internationally recognized, and he received numerous awards, including the Ramon Magsaysay Award and the World Food Prize.
7. Legacy: Dr Kurien's legacy continues through the continued success of Amul and the cooperative movement in India. His ideas and principles have inspired similar initiatives in other countries.
In conclusion, Dr Verghese Kurien is widely acknowledged as the founder of Amul Diary, and his visionary leadership revolutionized the dairy industry in India.

The inventor of Potato chips is George Crum.
The invention of potato chips is credited to George Crum, a Native American chef who worked at Moon's Lake House in Saratoga Springs, New York, during the mid-1800s. The story goes that the invention of potato chips was an accidental creation resulting from a customer's complaint about the thickness of their fried potatoes. Here is a detailed explanation of the invention of potato chips by George Crum:
Background:
- George Crum was a chef at Moon's Lake House, a popular restaurant in Saratoga Springs, New York.
- The restaurant was known for its French-fried potatoes, which were usually served in thick slices.
The Incident:
- One day, a customer ordered a plate of French-fried potatoes and expressed dissatisfaction with the thickness of the slices.
- In response to the complaint, George Crum decided to slice the potatoes as thin as possible to prove a point.
The Invention:
- George Crum sliced the potatoes extremely thin and fried them until they were crispy.
- The result was a batch of thin, crunchy, and delicious fried potato slices, which became known as "Saratoga chips."
Popularity:
- The invention of potato chips quickly gained popularity among the restaurant's patrons.
- Other guests started requesting the "Saratoga chips," and they soon became a staple on the restaurant's menu.
Legacy:
- The popularity of potato chips spread beyond Moon's Lake House and became a favorite snack across the United States.
- In 1853, George Crum opened his own restaurant, "Crum's Place," where he continued to serve his famous potato chips.
Conclusion:
- The invention of potato chips is attributed to George Crum, a Native American chef who worked at Moon's Lake House in Saratoga Springs, New York.
- George Crum's accidental creation of thin and crispy potato chips became a beloved snack and continues to be enjoyed worldwide.

GPS stands for Global Positioning Systems.
Explanation:
- GPS stands for Global Positioning Systems, which is a technology that uses satellites to provide location and time information anywhere on Earth.
- It was initially developed for military purposes but is now widely used in various civilian applications.
- GPS works by using a network of satellites orbiting the Earth. These satellites constantly transmit signals that can be received by GPS receivers.
- The GPS receiver calculates the distance between itself and multiple satellites by measuring the time it takes for the signals to reach the receiver.
- By using the distance measurements from multiple satellites, the GPS receiver can determine the user's precise location.
- In addition to providing location information, GPS can also provide other data such as speed, heading, and elevation.
- GPS has revolutionized navigation and has become an essential tool in various industries including transportation, agriculture, surveying, and outdoor recreation.
- It has also enabled the development of numerous applications such as navigation systems, tracking devices, and location-based services on smartphones and other devices.
- Overall, GPS has greatly improved our ability to navigate and understand our position in the world.

The inventor of X-rays is Wilhem Roentgen.

Explanation:
Wilhem Roentgen, a German physicist, is credited with the discovery of X-rays. He made this groundbreaking discovery in 1895 while experimenting with cathode rays. Roentgen noticed that a fluorescent screen in his lab started to glow even when it was not directly exposed to cathode rays.

Discovery of X-Rays:
Roentgen referred to the mysterious rays causing the fluorescence as "X-rays" because their nature was still unknown. He conducted further experiments and discovered that these rays could pass through solid objects, including human flesh, but were absorbed by denser materials such as bones and metal.

Contributions and Impact:
Roentgen's discovery of X-rays revolutionized the field of medicine and had numerous applications. Here are some of the key contributions and impacts of X-rays:

1. Medical Imaging: X-rays became an essential tool in medical diagnostics. They allow doctors to visualize and diagnose various conditions, including fractures, tumors, and infections, without invasive procedures.

2. Radiation Therapy: X-rays are also used in radiation therapy to treat cancer. High-energy X-rays can destroy cancer cells or hinder their growth, helping in the fight against cancer.

3. Airport Security: X-ray machines are widely used in airport security to scan luggage and identify any suspicious items or illegal substances.

4. Material Analysis: X-ray diffraction techniques are used to analyze the structure and composition of materials, such as crystals and metals. This has significant applications in material science and research.

5. Non-Destructive Testing: X-rays are employed in non-destructive testing to detect flaws or defects in various objects without damaging them. This is particularly useful in industries such as aerospace and manufacturing.

Conclusion:
Wilhem Roentgen's discovery of X-rays has had a profound impact on various fields, especially medicine and technology. His pioneering work laid the foundation for the development of X-ray technology, which continues to advance and benefit society to this day.

Ela Bhatt is the founder of SEWA (Self-Employed Women's Association).
SEWA is a trade union and self-help organization that focuses on improving the working and living conditions of women in the informal economy. Here is a detailed explanation of Ela Bhatt's role and achievements:
1. Background:
- Ela Bhatt is an Indian social activist and lawyer.
- She was born on September 7, 1933, in Ahmedabad, Gujarat, India.
2. Founding of SEWA:
- Ela Bhatt founded SEWA in 1972 with the aim of organizing and empowering women working in the informal sector.
- SEWA started as a small organization with a few members and has grown into a nationwide movement.
3. Objectives of SEWA:
- SEWA works towards securing the rights and livelihoods of women in the informal economy.
- It focuses on issues such as fair wages, social security, healthcare, and skill development for women workers.
- SEWA also provides financial services and access to markets for women entrepreneurs.
4. Impact of SEWA:
- Under Ela Bhatt's leadership, SEWA has made significant contributions to the empowerment of women in the informal sector.
- It has organized thousands of women workers and helped them gain access to better working conditions and livelihood opportunities.
- SEWA has also played a crucial role in advocating for policy changes to protect the rights of women in the informal economy.
5. Recognition and Awards:
- Ela Bhatt's work with SEWA has been widely recognized and honored.
- She has received numerous awards, including the Ramon Magsaysay Award, the Right Livelihood Award, and the Padma Bhushan, one of India's highest civilian awards.
In conclusion, Ela Bhatt is the founder of SEWA, a prominent organization that has been instrumental in improving the lives of women working in the informal sector. Her efforts and leadership have made a significant impact on the empowerment of women in India.

The inventor of the Pacemaker is John Hopps.

Explanation:

- John Hopps was a Canadian electrical engineer and physicist who is credited with inventing the first cardiac pacemaker.
- He developed the pacemaker in the late 1940s and early 1950s while working on a project to find a way to use radio frequency heating to treat hypothermia.
- While conducting experiments on hypothermia, Hopps discovered that an electrical pulse could stimulate the heart to beat.
- This breakthrough led him to develop the world's first external cardiac pacemaker, which was a device that used electrical impulses to regulate the heartbeat.
- Hopps' pacemaker was a significant advancement in medical technology, as it provided a way to manage and control irregular heart rhythms, which can be life-threatening.
- His invention paved the way for the development of modern pacemakers, which are now implanted into the body and can regulate the heart's rhythm internally.
- John Hopps' invention of the pacemaker revolutionized the field of cardiology and has saved countless lives since its introduction.

In conclusion, the inventor of the pacemaker is John Hopps, who developed the first external cardiac pacemaker in the late 1940s and early 1950s. His invention has had a profound impact on the field of cardiology and has been instrumental in saving numerous lives.

The inventor of Penicillin is Sir Alexander Fleming.
Explanation:
- Sir Alexander Fleming, a Scottish biologist, pharmacologist, and botanist, is credited with the discovery of Penicillin.
- He made this groundbreaking discovery in 1928 while working at St. Mary's Hospital in London.
- Fleming noticed that a petri dish containing Staphylococcus bacteria had been contaminated by a mold called Penicillium notatum.
- He observed that the bacteria surrounding the mold did not grow, indicating that the mold was producing a substance that inhibited bacterial growth.
- Fleming named this substance "Penicillin" and recognized its potential as an antibacterial agent.
- However, it was not until the 1940s that Penicillin was developed into a practical antibiotic, thanks to the efforts of other scientists like Howard Florey and Ernst Chain.
- Penicillin revolutionized medicine by effectively treating bacterial infections and saving countless lives.
- Sir Alexander Fleming was awarded the Nobel Prize in Physiology or Medicine in 1945 for his discovery of Penicillin.

How he can make a positive impact on society. They are driven by a passion for creating positive change and are constantly seeking innovative solutions to social problems. They are not satisfied with the status quo and are always looking for ways to improve and make a difference.

Social entrepreneurs are also highly adaptable and open-minded. They are willing to take risks and think outside the box to find new and effective solutions. They are not bound by traditional ways of doing things and are willing to challenge established norms and systems.

Another quality of a social entrepreneur is their ability to inspire and mobilize others. They have a strong vision and are able to communicate it effectively to others, inspiring them to join their cause and work towards a common goal. They are natural leaders and are able to build strong teams and networks to support their work.

Additionally, social entrepreneurs are highly resilient and persistent. They understand that creating social change is a long and challenging process, and they are willing to face setbacks and obstacles along the way. They are not easily discouraged and are able to persevere in the face of adversity.

Overall, a social entrepreneur is someone who is driven by a deep sense of purpose and is dedicated to making a positive impact on society. They possess qualities such as passion, adaptability, leadership, and resilience, which enable them to create innovative solutions and inspire others to join their cause.

What does IDC stand for?
Answer: International Data Corporation

Definition:
IDC stands for International Data Corporation. It is a global market intelligence firm that provides advisory services and market research on various technology and industry sectors.
Explanation:

• IDC is an acronym that stands for International Data Corporation.


• It is a well-known market intelligence firm that specializes in providing advisory services and market research.


• Founded in 1964, IDC offers insights and analysis on various technology and industry sectors.


• The company conducts extensive research on market trends, emerging technologies, and industry forecasts.


• They provide valuable information and data to help businesses make informed decisions and develop effective strategies.


• With a global presence, IDC has offices in major cities worldwide and a team of industry experts and analysts.


• Their research and reports cover a wide range of topics, including cloud computing, artificial intelligence, cybersecurity, digital transformation, and more.


• Organizations rely on IDC's research and analysis to stay updated on market trends, competitive landscapes, and future opportunities.

Conclusion:
IDC stands for International Data Corporation, a renowned market intelligence firm that offers advisory services and market research on various technology and industry sectors.

Verghese Kurian is the founder of Amul Diary.

Explanation:
- Verghese Kurian is widely known as the "Father of the White Revolution" in India.
- He played a pivotal role in establishing Amul Diary, which is a well-known cooperative dairy company in India.
- Under his leadership, Amul Diary revolutionized the dairy industry in India by introducing a cooperative model that empowered farmers and ensured fair prices for their milk.
- Kurian's efforts in organizing farmers into cooperatives and implementing modern dairy practices led to a significant increase in milk production and improved the livelihoods of millions of dairy farmers.
- Amul Diary's success story has inspired similar cooperative movements in other sectors across the country.
- Verghese Kurian's visionary leadership and contributions to the dairy industry have made a lasting impact on the agricultural and economic development of India.

Introduction:
The institute established by the government with the objective of supplying machinery and equipment to small enterprises on a hire purchase system is the National Small Industries Corporation (NSIC).

Explanation:
The NSIC was established in 1955 with the aim of promoting, aiding, and fostering the growth of small-scale industries in India. It is an ISO 9001 certified company under the Ministry of Micro, Small and Medium Enterprises (MSME).

Objective:
The primary objective of the NSIC is to provide machinery and equipment on a hire purchase system to small enterprises. This initiative helps small businesses overcome the challenge of accessing capital and acquiring necessary machinery and equipment for their operations.

Services Offered:
The NSIC offers various services to support small enterprises. Some of the key services provided by the NSIC include:

1. Hire Purchase Scheme: The NSIC supplies machinery and equipment to small enterprises on a hire purchase basis. This allows small businesses to acquire necessary assets without the need for upfront capital investment.

2. Raw Material Assistance: The NSIC assists small businesses by providing raw materials on credit. This enables small enterprises to procure essential inputs for their production processes without immediate payment.

3. Marketing Support: The NSIC helps small businesses in marketing their products by providing assistance in securing orders, participating in trade fairs and exhibitions, and promoting their products through various channels.

4. Export Promotion: The NSIC facilitates the export of products manufactured by small enterprises by providing various export-related services such as training, market research, and export documentation support.

5. Technology Upgradation: The NSIC helps small businesses in adopting modern technology and upgrading their manufacturing processes through various schemes and programs.

6. Finance and Credit: The NSIC assists small enterprises in obtaining financial support by facilitating loans and credit facilities from banks and financial institutions.

Conclusion:
The National Small Industries Corporation (NSIC) was established by the government to provide machinery and equipment to small enterprises on a hire purchase system. The NSIC also offers a range of other services to support the growth and development of small businesses in India.