Responsibilities of Entrepreneurs

What refers to the duty or obligation to satisfactorily perform or complete a task (assigned by someone, or created by one’s own circumstances) that one must fulfill?

• Responsibility

• Accountability

• Transparency

• Fairness

What responsibility of an entrepreneur which makes sure that the physical environment of the workers is well taken-cared of by providing a well illuminated and ventilated workable space for the employees?

• Pay wages/salaries and taxes

• Assignment of right jobs

• Create and maintain an ergonomic workplace

• None of the above

Businesses must treat their injured employee with respect and file the claim without attempting to cause a delay in processing or attempt to deter the worker from filing a claim at all.

• Facilitate employees’ compensation insurance

• Support career development

• Train and educate employees

• Enforce anti-discrimination law

The entrepreneur should provide employment security to the employees of his organization, which will cause the sense of satisfaction among them and they will work with full interest, dedication, and commitment and will feel free from the apprehensions of losing a job and will have the higher degree of faith in the employer.

• Respect human rights

• Give rewards and Benefits

• Give security and employment

• All of the above

The following are responsibilities of an entrepreneur to the government EXCEPT for:

• Compliance of government rules

• Payment of taxes

• Give rewards and benefits

• None of these

Loans are obtained for particular objectives. Hence, entrepreneurs should utilize the loan amount only for the desired objectives.

• Obtain loans on reasonable conditions

• Follow mortgage rules

• Follow business ethics

• Poor utilization of debt capital

The entrepreneurs have the responsibility to provide regular information to the suppliers regarding changes happening in the demand of the commodities in domestic or in foreign markets.

• Pay fair prices of Goods at a reasonable time

• Promote healthy competition

• Inform about changes in market

• None of the above

Any unhealthy and hostile rivalries among dealers should not be permitted by the entrepreneur.

• Motivate indigenous supplies

• Provide technical advice

• Inform suppliers of future developments

• Promote healthy competition

What is your analysis of the given statements below? Statement 1: A supplier is an entity (person or institution) that extends credit by giving another entity permission to borrow money intended to be repaid in the future. Statement II: Mismatching of jobs with employee’s qualification is encouraged.

• Both Statements are true

• Only Statement 1 is true

• Only Statement II is true

• Both Statements are false

What are the responsibilities of an entrepreneur towards the individual development of employees?

• Provide free trainings for all employees.

• Let the employees find their own training camp.

• Provide trainings for the managers only

• Offer privileges like free trip to other country once the sales target is achieve.