(HOTS) Questions - Entrepreneurial Opportunity, Entrepreneurship, Class 12 | Additional Study Material for Commerce PDF Download

Q1. What is environment ? Why is Environment Scanning necessary ? (2 marks)
Ans. Environment is a collection of such factors on which an enterprise has no control. Entrepreneurial opportunities exists in business environment. So to grab the entrepreneurial opportunities, it is must to scan the business environment.

Q2. When does a project become successful in the long run ? (1 mark)
Ans. The project becomes successful in the long run only when it is compatible with the social, legal, political, economic and technical aspects of the environment.

Q3. What is the interface between sensing an opportunity and a business project ? (2 marks)
Ans. Sensing and perceiving a business opportunity may not always become a sound business project. The interface between sensing an opportunity and a business project can be shown in the fo llowing diagram :

Q4. What is the meaning of environment scanning ? (2 marks)
Ans. Environment scanning means carefully examining various factors prevailing in the environment. So scanning implies understanding the social, cultural, economic, political and legal factors.

Q5. Entrepreneur perceives opportunity from :
(a) Problem
(b) Needs
(c) Problems and needs
(d) None of these.
(1 mark)
Ans. (c) Problems and needs

Q6. Needs of a person are :
(a) Social
(b) Physical
(c) Psychological
(d) All the above.
(1 mark)
Ans. (d) All the above.

Value Based Question:
Q1. An organization has done plantation around its factory premises and only after purifying the wastes, it throws it into the drains. Which values are being followed by the organization ? (3 marks)
Ans.
(i) Safety from Water and Air Pollution.
(ii) Protection of Environment.
(iii) Fulfilling the Social responsibility.

Q2. An airlines is planning to expand over the next five years. What would be the PESTEL factors it should consider ? (3 marks)
Ans. The PESTEL factors it should consider are as follows :
(i) Political : Political unrest, terrorism, landing rights in foreign countries.
(ii) Economic : Oil prices, exchange rates, taxation, economic boom or depression.
(iii) Social : Change in population size, fashion.
(iv) Technological : Engine efficiency, new aircraft being planned, better and chooper video conferening.
(v) Ecological : Concern about the impact of carbon emissions from jet engines, noise, resistance to airport extension.
(vi) Legal : Health and safety regulations, consumer legislation, safety and security legislations.