The person who conceives the business idea, brings the organisation into existence and carry on the business activity and top of it bears risk is called.
Entrepreneur
Understanding the Role in Business
The question asks to identify the term for a person who is central to starting and running a business, specifically mentioning conceiving the idea, creating the organization, conducting business activities, and bearing the risk.
Analyzing the Options
Let's examine the roles described in the options to see which one best fits the description provided in the question:
- Professional: A professional is someone engaged in a specific occupation, often requiring specialized education or training. While they might work within a business or even run their own professional practice, this term doesn't specifically capture the act of conceiving the initial business idea or bearing the primary business risk in a general sense.
- Entrepreneur: An entrepreneur is commonly defined as a person who starts a business and is willing to take on the risks involved in hopes of making a profit. This definition strongly aligns with conceiving a business idea, bringing an organization into existence, carrying on business activities, and crucially, bearing the associated risks.
- Employer: An employer is simply a person or organization that hires and pays people to work. While an entrepreneur is typically an employer once the business grows, the term 'employer' itself doesn't encompass the initial idea conception or the primary risk-bearing aspect of starting the venture.
- Manager: A manager is responsible for overseeing and directing the operations and people within an established organization. Managers work within the structure created by someone else (often an entrepreneur) and are focused on executing strategies and maintaining operations rather than conceiving the fundamental business idea or bearing the ultimate financial risk of the enterprise's existence.
The Role of an Entrepreneur
Based on the analysis, the term that perfectly describes the person who:
- conceives the business idea,
- brings the organisation into existence,
- carry on the business activity, and
- bears risk,
is an Entrepreneur.
Entrepreneurs are innovators who see opportunities, gather resources, organize operations, and manage the uncertainties and risks inherent in launching and running a new venture.
Important Questions from Miscellaneous
A stone is thrown horizontally from the top of a 20 m high building with a speed of 12 m/s. It hits the ground at a distance R from the building. Taking g = 10 m/s2 and neglecting air resistance will give :
A sphere of volume V is made of a material with lower density than water. While on Earth, it floats on water with its volume f1V (f1 < 1) submerged. On the other hand, on a spaceship accelerating with acceleration a < g (g is the acceleration due to gravity on Earth) in outer space, its submerged volume in water is f2V. Then:
A railway wagon (open at the top) of mass M1 is moving with speed v1 along a straight track. As a result of rain, after some time it gets partially filled with water so that the mass of the wagon becomes M2 and speed becomes v2. Taking the rain to be falling vertically and the water stationery inside the wagon, the relation between the two speeds v1 and v2 is :
Consider the following statements:
1. Distance between the longitudes becomes zero on North Pole and South Pole.
2. Distance between the longitudes is maximum on the Equator.
3. Number of longitudes is more than number of latitudes.
Which of the statements given above is/are correct?
One block of 2⋅0 kg mass is placed on top of another block of 3⋅0 kg mass. The coefficient of static friction between the two blocks is 0⋅2. The bottom block is pulled with a horizontal force F such that both the blocks move together without slipping. Taking acceleration due to gravity as 10 m/s2, the maximum value of the frictional force is :
