Innovation Business Models and Entrepreneurship-

2021

Solution for Week 6

1. Micro Finance Institutions are examples of
a. Sustainable innovation
b. CSR policy
c. Both a and b
d. None of the above
2. Sustainable innovation is the creation of something new that improves performance in the
which of the following dimensions of sustainable development?
1) Social
2) Environmental
3) Economic
4) Cultural
5) Technological
a. 1, 2, 4
b. 1, 3, 4
c. 1, 2, 3
d. 2, 3, 5
3. Match the association of product and process with usage and problem and identify its
factor.
A No innovation i Old Product/Process, New
Usage/Problem
B Old product/process used in a new ii New Product/Process, New
way Usage/Problem
C Process just-in-time iii Old Product/Process, Old
Usage/Problem
D Most innovative: new product that iv New Product/Process, Old
leads to new opportunities Usage/Problem

a. A- ii, B- iv, C- i, D- iii

b. A- iii, B- ii, C- iv, D-i
c. A- iii, B- i, C- iv, D- ii
d. A- ii, B- iii, C-i, D-iv
4. Which of the following is an example of radical innovation?
a. Appy fizz
b. Netflix
c. Coco-Cola Diet
d. LCD
5. ____________ has been redefined in amended KVIC Act, 1956, as “any industry located in a
rural area which produces any goods, renders any service with or without the use of power
and in which the fixed capital investment per head or artisan or worker does not exceed Rs.
One lakh (Rs. One lakh and fifty thousand in case of village industry located in hilly area) or
 such other sum as may, by notification in the Official Gazette, be specified by the central
government, from time to time by the Central Government.”
a. Micro industries
b. Small industries
c. Medium industries
d. Village industries
6. Which is the scheme for promoting innovation and rural entrepreneurship?
a. NREGA
b. Livelihood Business Incubators
c. Pradhan Mantri Mudra Yojna
d. Ambedkar Social Innovation and Incubation Mission
7. Which among these is an example of innovation resulting from social initiatives?
a. Improvement in working conditions
b. Use of sustainable materials
c. Reduced expenses
d. Ability to meet growing demand
8. Which is not related to the 5 C’s of insight development?
a. Creativity
b. Connection
c. Contradiction
d. Curiosity
9. Which of the examples seem to be associated with Insight and Entrepreneurship?
a. Clocks
b. Footwear
c. Furniture
d. All the business and products are a resultant of Insight and Entrepreneurship.
10. What do you mean by MSME?
a. Marketing and Sales Management Enterprises
b. Medium, small and Marketing Enterprise
c. Micro Small and Medium Enterprises
d. Macro, Small and Micro Enterprises

Key
1. A
2. C
3. C
4. B
5. D
6. B
7. A
8. A
9. D
10. C