Business Studies · 1st Puc Commerce
Ch 9MSME and Business Entrepreneurship — 1st PUC Business Studies, concept-first.
Micro, Small and Medium Enterprises (MSME) are a driving force in India's development. They act as a vital link in the country's industrialisation through production, employment and exports, widening the entrepreneurial base and putting local raw materials and indigenous skills to work.
Key concepts
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Classifying and Defining MSME
The **size** of a business unit can be measured by several parameters — the **number of persons employed**, the **capital invested**, or the **turnover** of the business. To keep a single, consistent standard, the Govern…
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Introduction
Micro, Small and Medium Enterprises (MSME) are a driving force in India's development. They act as a vital link in the country's industrialisation through production, employment and exports, widening…
Micro, Small and Medium Enterprises
To understand MSMEs, it helps to know how 'size' is defined for enterprises in India. Several parameters can measure the size of a business unit — the number of persons employed, the capital invested,…
Role of MSME
MSMEs occupy a distinct position in India because of their contribution to the country's socio-economic development. Emphasising MSMEs has always been an integral part of India's industrial strategy.
Problems Associated with MSME
The full potential of MSMEs is often not realised because of several problems tied to their size and scale of operations.
MSME and Entrepreneurship Development
Entrepreneurship is the process of setting up one's own business, as distinct from taking up employment or practising a profession.
Intellectual Property Rights (IPR)
Over the past two decades, Intellectual Property Rights (IPR) have risen to a stature where they play a major role in the growth of the global economy.
Why is IPR Important for Entrepreneurs?
IPR matters to entrepreneurs for several reasons:
Types of IPs
IPRs are essential for fostering creativity and contribute to a nation's economic growth. They let creators and inventors control their creations, and they create incentives for artists, entrepreneurs…
Key Terms
- Small scale industries — Industrial units with modest investment in plant and machinery and turnover, making up about 95% of India's industrial units.
Summary
Role of small business in India — Small-scale industries play a very important part in the socio-economic development of the country.
Very Short Answer Questions
Short Answer Questions
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- Q1What is MSME?Free
- Q2State the meaning of entrepreneurship.Free
- Q3MSME and Entrepreneurship are connected. Do you agree? Give two reasons.Free
- Q4State the role of MSME in development of a country.Preview
- Q5What are the different parameters used to measure the size of MSME?Preview
- Q6State the meaning of Village and Khadi industries.Preview
- Q7State any three major problems faced by MSMEs.Preview
Long Answer Questions
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- Q1How do small scale industries contribute to the socio-economic development of india? Discuss.Free
- Q2Describe the role of small business in rural India.Free
- Q3Discuss the problems faced by small scale industries.Preview
- Q4What measures has the government taken to solve the problem of finance and marketing in the small scale sector?Preview
- Q5‘Innovation is integral to MSME’. Discuss giving reasons to your answer.Preview
- Q6‘Creativity and Innovation is the key to MSME’. Justify the statement.Preview