Arrange the following steps of process of setting up a business in the correct order.
A. Resources Mobilisation
B. Assessment of feasibility of the idea & preparation of a business plan.
C. Development of product/service idea.
D. Scanning the environment for entrepreneurial opportunities.
E. Appraisal by the Funding Agencies
Choose the correct answer from the given below :
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A- D - C - B - E
The steps are shown in a flowchart called “Process of Setting up a Business”. The five steps in the question follow its order from the top:
(A) Resources Mobilisation — the first box of the flowchart. The entrepreneur gathers (mobilises) the resources needed to start.
(D) Scanning the environment for entrepreneurial opportunities — next. The entrepreneur looks around for a business opportunity.
(C) Development of product/service idea — then the general opportunity is narrowed down to one specific product or service.
(B) Assessment of feasibility of the idea & preparation of a business plan — then the idea is checked to see whether it can work (feasibility). The findings are written down as a business plan.
(E) Appraisal by the Funding Agencies — last of these five. The business plan goes to the funding agencies, such as a bank or a State Finance Corporation, who study (appraise) it before giving money.
Note: This question is from the chapter Entrepreneurship Development, which is not in the current NCERT book (2026-27). The chapter is in the pre-rationalised NCERT, from which the extract below is taken. NCERT (Pre-rationalised Edition):
|
