17.

Corporate entrepreneurship and role of entrepreneur

Large, established companies are being forced to find new ways to adapt to increasing
pressure from smaller, faster and more agile companies. These new players are
identifying and exploiting opportunities by disrupting markets, taking market share and
threatening the very existence of established businesses.

Though not a new concept, corporate entrepreneurship is gaining momentum and is

widely being recognized as the answer to these organisational woes. Behaving like a
startup and harnessing the power of innovation, whilst retaining the benefits of being a
large company, is allowing businesses to retain their competitive advantage and
continue to flourish.

But what is behind this concept, and what do you need to know about it? Let’s start with
a corporate entrepreneurship definition, and then cover four points that will bring you
right up to speed.

Get in touch today and find out how we can help you transform your business through
corporate entrepreneurship.

A definition of corporate entrepreneurship

Corporate entrepreneurship, or intrapreneurship as it is often referred to, is the concept

of supporting employees to think and behave like entrepreneurs within the confines of
an existing organisational structure. Employees with the right vision and skills are
encouraged to identify opportunities and develop ideas which lead to innovative new
products, services or even new lines of business.

Corporate entrepreneurship programs should produce ideas which are disruptive in

nature, rather than smaller, incremental changes. Also, innovations tend to be led by
employees, rather than being implemented by management.

Why do you need corporate entrepreneurship?

Innovation is the lifeblood of a company; without it, the company will die. But many
larger organisations struggle to innovate successfully due to their structures,
bureaucracy and culture. Implementing a corporate entrepreneurship program provides
companies with a systematic way of increasing their innovation capabilities, the benefits
of which can be huge:

Growth: Successful corporate entrepreneurship ensures a consistent stream of new

innovations in the product and service pipeline, which in turn leads to future revenues
and growth for the organisation.

Increased productivity and employee morale: Corporate entrepreneurship programs

allow employees to tackle new opportunities, immersing them in work which they find to
be both challenging and interesting. When employees are engaged and feel that their
contributions are valued by the company, productivity goes up.

Source of competitive advantage: Employees are an organisation’s greatest asset

when it comes to identifying opportunities and threats in the market. They can provide
insights not available to competitors, and are a valuable source of ongoing competitive
advantage.

Employee recruitment and retention: Allowing employees to pursue their ideas and
opportunities for the business leads to higher levels of job satisfaction. A result of this is
lower levels of staff turnover. In addition, companies that are known for encouraging
corporate entrepreneurship will in turn attract other talented, entrepreneurially minded
employees, creating a positive cycle.

18. Entrepreneurial Motivation

19. Planning and evaluation of projects

27,28,29
VENTURE CAPITAL (VC)
Origin and Evolution
The concept of venture capital is a relatively new phenomenon in the Indian industrial
scenario. It is a new financial service which facilitated the development of new breed of
entrepreneurs to start high-risk and high-technology projects for higher returns. As the name
suggests, it implies capital provided to start a new venture.
The origin of venture capital may be traced back to General Doritos who set up the
American Research and Development Fund (AR and D) at Massachusetts Institute of
Technology in 1946 to finance the commercial exploitation of new technologies developed in
universities in USA. Allured by the performance of the AR and D, large companies in the USA
like Xerox, 3m and General Electric entered into the field of venture capital. The Japanese
suddenly followed the Americans and started venture capital division in their country.
The beginning of 1950 marked the growth of venture capital companies in different
countries. The origin of venture capital in UK is also traceable during the 19 th century when
European Merchant Bankers helped the growth of industry in their dominions like South Africa,
India and USA. Inspired by the success of venture capital abroad, many companies in India
came forward to promote venture capital. The TATA Group’s Investment Corporation of India
successfully developed a number of companies like Associated Bearings, CEAT Types during
the Independence period. In the post-Independence period, venture capital financing was first
started by IFCI which sponsored The Risk Capital Foundation In 1975.
Concept, Aims and Features of Venture Capital
Venture capital is a form of equity financing especially designed for funding high-risk,
high-technology and high-reward projects. It is equity finance based upon the fact that a
partnership can be formed between the entrepreneur and the venture capitalist or the investors
and thus, represents an attempt to innovative entrepreneurship which goes beyond the
conventional projects and project financing. Venture capital implies investment in such types of
enterprise where the uncertainties have yet to be reduced to risks. This type of capital is
provided to the entrepreneurs who have conceived good business ideas have sound knowledge
of the particular business but lack financial resources to implement them. Venture capital is
important enough to help the small and medium entrepreneurs to launch innovative enterprises.
Thus, venture capital can be defined as equity support to fund new concepts that involve
a high risk and at the same time, have high growth and profit potential.

Aims of venture capital:

a) It fulfills the ambition of entrepreneurs.
b) It breathes life into promising business initiative.
c) It provides telescopic faculty with a free sense of direction.
d) It helps in building enterprise vision.
e) It partners enterprises on to thrilling success.

Features of venture capital:

a) It assumes a high degree of risks in the expectation of earning a high return.
b) It finances high-technology projects.
c) It takes active interest in guiding the assisted enterprise.
d) The gestation period is usually high. It takes generally 4 to 5 years to yield the desired
level of profit.
 e) It is a long-term investment and the returns are in the form of capital gains.
f) Venture capitalists normally liquidate their investment in the assisted company when it
reaches a certain stage of profitability.
g) Unlike the traditional loans, does not carry interest charges. Instead, it carries a royalty
linked to sales generated by the company after commercialization.

Venture Capital: Financing Steps

First step-Seed money finance: Small amount of financing needed to prove a concept or to
create a product. Marketing is not included in this stage.

Second step-Start-up: Financing for a firm that started up in the past one year. Funds are
utilized to pay for marketing and product development.

Third step-First round financing: Additional money to start sales and manufacturing after a
firm has spent its start-up capital.

Fourth step-Second round financing: Finance kept for working capital for a firm that is selling
its product, but is still losing money.

Fifth step-Third round financing: Financing for a firm that reaches breakeven point and is
contemplating an expansion project.

Sixth step-Fourth round financing: Money provided for firms that are likely to go public soon.
This is also known as bridge finance.

Sources of Venture Capital

The important funds and the schemes by which the venture capitalists in our country provide
financial assistance can be deputed as follows:

1. Programme for Advancement of Commercial Technology (PACT): The first venture

capital funding in India was US AID’s Programme for Advancement of Commercial
Technology which started in 1995 to provide finance to Indian firms in commercializing
the innovative technologies by Indo-US joint ventures.
2. Technology Development and Investment Corporation of India (TDICI): This was
the first venture capital company of India and was promoted by ICICI in 1986.
3. Risk Capital and Technology Finance Corporation (RCTFC): This institution is an
independent body launched by Industrial Finance Corporation of India (IFCI) to
enhance the purview of venture-capital operations. It assists the entrepreneurs
 especially those who engage themselves in technological development.

1. Venture capital scheme of IDBI: IDBI’s venture capital fund has been set up with an
initial corpus of Rs 10 crores. This scheme of IDBI has been emerging as major
source of venture-capital funding. It is designed especially to assist projects which
promote new and untested technologies in Indian conditions.

Apart from the above organizations, many of the players provide venture capital for the first
generation entrepreneurs.

Criteria adopted by venture capitalists to provide venture capital finance:

The following criteria are adhered to by the venture capitalists while making investment
decisions:
a) The integrity, business acumen and the entrepreneurial spirit of the entrepreneur
b) The track record of the entrepreneur and his management team
c) The technical feasibility and commercial viability of the project, process or service
d) Large and rapidly-growing market opportunity
e) Competitive advantage in terms of price or cost
f) Potential for adequate profitability and attractive returns over a period of four to seven
years.
Merits of venture capital:
(a) Venture capital helps in accelerating the pace of industrialization in the country.
(b) It helps in developing new technologies and new methods of production.
(c) It helps the first-generation entrepreneurs both small and medium scale to translate their
ideas into reality.
(d) It generates employment opportunities.
(e) It promises entrepreneurship in the country.
CONTRACT FARMING
Contract farming can be defined as an agreement between farmers and processing
and/or marketing firms for the production and supply of agricultural products under forward
agreements, frequently at predetermined prices.
The arrangement also invariably involves the purchaser in providing a degree of
production support through, for example, the supply of inputs and the provision of technical
advice. The basis of such arrangements is a commitment on the part of the farmer to provide a
specific commodity in qualities and at quality standards determined by the purchaser and a
commitment on the part of the company to support the farmer’s production and to purchase the
commodity. Contract farming is thus a means of allocating the distribution risk between
processor and grower. The latter assumes risk associated with production while the former
assumes the risks of marketing the final produce.
An FAO guide “contract farming: partnerships for growth” argues that well managed
contract farming has proven effective in linking small farm sector to sources of extension advice,
mechanization, seeds, fertilizer and credit, and to guaranteed and profitable markets for
produce. “It is an approach that can contribute to both increased income for farmers and higher
profitability for sponsors.” When efficiently organized and managed, contract farming reduces
risk and uncertainty for both parties and provides the producer the opportunity to add value to
his production.
With effective management, contract farming can be a means to develop markets and to
bring about the transfer of technical skills in a way that is profitable for both the sponsors and
farmers. The contract farming system should be seen as a partnership between agribusiness
and farmers. Exploitative arrangements by managers are likely to have only a limited duration
and can jeopardize agribusiness investments. Similarly, farmers need to consider that
honouring contractual arrangements is likely to be to their long-term benefit.
Merits and problems of Contract farming:
FARMERS
Advantages for farmers
 Inputs and production services are often supplied by the sponsor – This is usually done
on credit through advances from the sponsor
 Contract farming often introduces new technology and also enables farmers to learn new
skills
 Farmers’ price risk is often reduced as many contracts specify prices in advance
 Contract farming can open up new markets which would otherwise be unavailable to
small farmers
Problems faced by farmers
 Particularly when growing new crops, farmers face the risks of both market failure and
production problems
 Inefficient management or marketing problems can mean that quotas are manipulated
so that not all contracted production is purchased
 Sponsoring companies may be unreliable or exploit a monopoly position
 The staff of sponsoring organizations may be corrupt, particularly in the allocation of
 quotas
 Farmers may become indebted because of production problems and excessive
advances

SPONSORS
Advantages for sponsors
 Contract farming with small farmers is more politically acceptable than, for example,
production on estates
 Working with small farmers overcomes land constraints
 Production is more reliable than open-market purchases and the sponsoring company
faces less risk by not being responsible for production
 More consistent quality can be obtained than if purchases were made on the open
market
Problems faced by sponsors
 Contracted farmers may face land constraints due to a lack of security of tenure, thus
jeopardizing sustainable long-term operations
 Social and cultural constraints may affect farmers’ ability to produce to managers’
specifications
 Poor management and lack of consultation with farmers may lead to farmer discontent
 Farmers may sell outside the contract (extra-contractual marketing) thereby reducing
processing factory throughput
 Farmers may divert inputs supplied on credit to other purposes, there by reducing yields

TYPES OF CONTRACT FARMING:

Contract farming agreements can be classified into three, not mutually exclusive
categories: i) market–specification, ii) resource providing, and iii) production management.
Market specification contracts are pre-harvest agreements that bind the firm and grower to a
particular set of conditions governing the sale of the crop. These conditions often specify price,
quality and timing.
Resource providing contracts oblige the processor to supply crop inputs, extension, or credit,
in exchange for a marketing agreement.
Production management contracts bind the farmer to follow a particular production method or
input regime, usually in exchange for a marketing agreement or resource provision. In various
combinations, these contract forms permit firms to influence the production technology and
respond to missing markets without having to operate their own plantations.
Eaton and shepherd have presented five organizational models for contract farming.
a) Centralized Model: The sponsor purchases crops from farmers for processing, and
markets the product. Quotas are distributed at the beginning of each growing season
and quality is tightly controlled. This model is generally associated with tobacco, cotton,
sugarcane, bananas, coffee, tea, cocoa and rubber crops.
b) Nucleus estate Model: The sponsor owns and manages – plantation, usually close to
a processing plant, and introduces technology and management techniques to farmers
(sometimes called “satellite” growers). Mainly used for tree crops, but has also been
applied to dairy production.
c) Multipartite Model: Usually involves statutory bodies and private companies jointly
participating with farmers. Common in china, where government departments, township
committees and foreign companies have entered into contracts with villages and
individual farmers.
d) Informal or Individual developed Model: Individual entrepreneurs or small companies
make simple, informal production contracts with farmers on seasonal basis, particularly
for fresh vegetables and tropical fruits. Super markets frequently purchase fresh
produce through individual developers.
e) Intermediary Model: Formal subcontracting of crop production to intermediaries is
common in Southeast Asia. In Thailand, large food processing companies purchase
crops from individual “collectors” or farmer committees, who make their own informal
arrangements with farmers.

PUBLIC PRIVATE PARTNERSHIP IN AGRICULTURE

PPP is a risk-sharing relationship between the public and private sectors which is
developed to bring about a desired public policy outcome. Private sector entrepreneurs having
the necessary skill, finance and risk taking ability are selected by the public sector as partners.
Trust & cooperation are essential for the success of such venture. The concept of PPP may be
utilized in diverse areas such as setting up of big input industry, to multilane highways to field
level activities like Joint Forest Management etc.

Kinds of partnerships:-
Permanent - Temporary
Long term - Need based
Bilateral - Indo-swiss, Indo-dutch etc.
Multilateral - world Bank, EU and other countries
Foreign donor - External donor + Govt + NGO
MNCs + Industry - De-Nocil, Kesoram, Nagarjuna.
NGO - Adarsh gaon (AnnaHazare), BAIF, Myrada, RDT etc.
Professional bodies- Univ. & Res. Institutes – ICAR, SAU, IVRI other universities.

IMPRTANCE OF PUBLIC PRIVATE PARTNERSHIP

1. Public sector capital resources are getting scarce Hence it becomes necessary to utilize
funds available with private sector.
2. Climate change, natural resource management, etc. are some important areas where
concept of PPP can be used or employed.
3. PPP can enhance the process of development because of higher investment by two sectors.
4. General resistance by people towards privatization can be greatly reduced by resorting to
PPP mode.
5. Expertise available with private sector may be properly used to build required infrastructure.
6. Public sector organizations are generally under funded, Hierarchical and follow standard
packages.
7. While private sector is characterized by flexibility, decentralization being more innovative
and demand driven.
8. Growing commercial and specialized nature of agriculture demands sound R & D, quick and
technically sound advice with appropriate market information. Neither private sector nor
public sector can fully shoulder this. A PPP mode is appropriate to take this challenge.

The public & private sectors in agriculture and allied sectors can come together and work in
partnership mode in providing supply & services to farmers in following areas.
1. Input production & distribution
2. Human resource sharing
3. Marketing.
4. Extension delivery system
5. Enterprise establishment & management
6. Institutional
PARTNERSHIP SUCCESS FACTORS:
 Need & demand based partnerships with common interest and objective are successful.
 There must be compatibility among partners in the areas of their functioning.
 Team spirit, Trust and Credibility sustain the partnerships longer.
 All partners should have role clarity
 Activity / project should be cost effective and must meet requirements of national & global
policies.
 Partners should be constantly innovative & dynamic to face emerging challenges.

JOINT VENTURE
A joint venture is a new enterprise owned by two or more participants. It represents a
combination of subsets of assets contributed by two (or more) business entities for a specific
business purpose and a limited duration. It is essentially a medium to long-term contract which
is specific and flexible. Though, the joint venture represents a newly created business
enterprise, its participants continue to exist as separate firms. A joint venture can be organized
as a partnership firm, a corporation or any other form of business organization which the
participating firms choose to select. It is a restricted or a temporary partnership between two or
more firms to undertake jointly complete specific venture. It is a type of external growth strategy
adopted by business firms.
A joint venture (often abbreviated JV) is an entity formed between two or more parties to
undertake economic activity together. The parties agree to create a new entity by both
contributing equity, and they then share in the revenues, expenses, and control of the
enterprise. The venture can be for one specific project only, or a continuing business
relationship. This is in contrast to a strategic alliance, which involves no equity stake by the
participants, and is a much less rigid arrangement. A joint venture may be a corporation, limited
liability company, partnership or other legal structure, depending on a number of considerations
such as tax and liability. Joint ventures are similar to partnerships, but are usually limited to one
or two projects.
Joint ventures are of limited scope and duration. They involve only a small fraction of each
participant's total activities. Each partner must have something unique and important to offer the
venture and simultaneously provide a source of gain to the other participants. However, the
participants' competitive relationship need not be affected by the joint venture arrangement.
A small firm with a new product idea that involves high risk and requires relatively large
amounts of investment capital may form a joint venture with a large firm. The larger firm might
be able to carry the financial risks and be interested in becoming involved in a new business
activity that promises growth and profitability. In addition, the larger firm might thereby gain
experience in the new area of activity that may represent the opportunity for a major new
business thrust in the future. Tax advantage is a significant factor in many joint ventures. It also
helps in expanding the firm's operations into foreign countries. The local partners contribute in
the form of specialized knowledge about local conditions, which are essential to the success of
the venture.

Characteristics:
 Contribution by partners of money, property, effort, knowledge, skill or other assets to
the common undertaking.
 Joint property interest in the subject matter of the venture.
 Right of mutual control or management of the enterprise.
 Right to share in the property.
Reasons for forming a joint venture:
 Build on company's strengths
 Spreading costs and risks
 Improving access to financial resources
 Economies of scale and advantage of size
 Access to new technologies and customers
 Access to innovative managerial practices

Benefits of Joint Venture:

 Joint ventures perform a useful role in assisting companies in the process of
restructuring.
 It can enable a firm to achieve market penetration into new areas overtime, enter and
develop new product markets, expand into new geographic areas and participate in new
technology driven value activities.
 They can also be used by smaller firms protectively as an element of long-range
strategic planning. Thus, a small firm in a highly concentrated industry can negotiate
joint ventures with several of the industry's dominant firms to form a self-protective
network of counterbalancing forces.

30, 31. Overview of food industry inputs, Characteristics of Indian food processing
industries and export
Essential conditions for processing industry in Agriculture, Horticulture, Fishery, Dairy
and different Foods
Irrespective of the nature of raw materials or finished products, the food processing
industry should have the following basic conditions.
1. Food processing industry should be set up and run in a clean and Hygienic environment.
2. Availability of raw materials and infrastructural facilities, including trained manpower
must be ensured.
3. Strict quality control all through, form collection of raw materials to finished product, and
must be enforced.
4. Enhance shelf-life of products, with no contamination or deterioration of the product.
5. The food produced should be hygienic, wholesome and tasteful and Suit the taste of
consumers.
6. The produce should have good market demand and generate employment and income.
7. The endeavor should be economically viable and socially desirable.

Characteristics of Food Processing Industry:

 The food processing industry in India ranks fifth in terms of production, consumption export
and expected growth and contributes 6.3% of GDP.
 Food processing industry / Sector is highly fragmented comprising of Fruits & vegetables,
milk & milk products, meat & poultry, marine products, grain processing, beer & alcoholic
beverages and convenience food & drink
 Entrepreneurs in this sector are small & unorganized & this sector constitutes 42%
 Though organized sector is small (25%) it is growing at a much faster rate.
 Small scale Industries in Food processing sector constitutes 33%
 Fruits & vegetables processing industry is also fragmented with large number of units in
house hold & small scale sector with low capacity up to 250 tonnes per annum.
 Primary milling of grains is important activity of Grain processing industry.
 Oil seed processing is largely concentrated in cottage industry.
 Branded grains as well as processed products is gaining popularity due to hygienic
packaging
 Products of bakery & bread manufacturing are reserved for small – scale sector. In Biscuits
80% is under unorganized sector only.
 India’s Dairy Industry was considered as one of the successful development industries in
Post – Independent era with total milk processing around 35% of which organized sector
 accounts 13% & remaining at (farm level) unorganized
 Dairy cooperatives account for major share in organized sector
 Since 2001 exports of dairy products is increasing at 25%.
 Poultry industry is also among faster growing sectors with 8% increase per year
 Meat export is largely driven by poultry, buffalo, sheep & goat growing at 30% per annum
 Exports of marine products have been inconsistent and declining trend due to adverse
European & American markets. Ex: Antidumping initiated against Indian shrimp by
America.
 Changing life styles, food habits, post liberalization trends, organized food retail gave boost
to processing sector.
 In India processing sector is characterized by poor infrastructure, in adequate quality
control, inefficient supply chain, high transportation, high taxation & packaging cost.
 Availability of raw material, priority sector status to agro processing by Govt. and vast
domestic market are major strengths of processing industry
 Setting up of SEZ/AEZ, food parks & mega food parks and promotional schemes, opening
of global markets provide lot of opportunity for entrepreneurs in this sector.

Policy Initiatives For Food Processing Industry

In order to promote investment in the food processing sector, several policy initiatives
have been taken. These include:
1. Food processing industry has been declared a priority area. So, it qualifies for a number of
fiscal relief and incentives to encourage commercialization and value addition to agricultural
products.
2. Full repatriation of profits and capital is allowed.
3. Almost the entire sector is delicensed, freeing it from bureaucratic hassles.
4. Automatic approvals for foreign investment up to 100 percent, except in few cases, and also
technology transfer.
5. Zero-duty import of capital goods and raw materials for 100 percent export-oriented units.
6. Government grants given for setting up common facilities in Agro Food Park.
7. Vision 2015 adopted by the Ministry of Food Processing Industries envisages:
a) Trebling the size of the processed food sector.
b) Increasing level of processing of perishables from 6 percent to 20 percent.
c) Value addition to increase from 20 percent to 35 percent.
d) Share in global food trade to increase from 1.5 percent to 3 percent.
Mega Food Park:
Mega Food Park is an industrial park meant for the food processing industry only. The
government has planned to set up 30 mega food parks to help India double its share in global
trade of processed food by 2015, out of which 10 are under implementation in the first phase.
These are –
1. Shirwal (Maharashtra)
2. Ranchi (Jharkhand)
3. Chikmagalur (Karnataka)
4. Dharmapuri (Tamil Nadu)
5. Jalandhar (Punjab)
6. Haridwar (Uttarakhand)
7. Jagdishpur – Raibareily (UP)
8. Jangipur (West Bengal)
9. Chittor (Andhra Pradesh)
10. Nalbari – Assam (North East)
The Mega Food Parks are envisaged to be a well defined agri/horticultural processing zone
continuing state of the art processing facilities with support infrastructure and well established
supply chain. The proposed scheme aims to provide a mechanism to bring together farmers,
processors and retailers, and link agricultural production to the market so as to ensure
maximum value addition, minimize wastage and improve farmers’ income.
The Mega Food Park is designed to link the farmers with the retail markets with
minimizing the intermediaries, thus helping farmers earn higher returns from their produce.
These food parks will be spread over 10 to 100 hectares. Minimum size of 10 hectares shall
enable smaller food processing units to start operation within the SEZ. The government will
provide a subsidy of Rs. 50 crore per park to private investors and will have cold warehousing,
grading centers and research laboratories.
The Mega Food Parks will create an integrated value chain from the farm gate to the
consumer and will envisage complete backward and forward linkages along with common
processing facilities.

Opportunities & Scope in Food Processing Industry In India

 Vast source of raw materials is available: India is one of the largest producers of wheat &
rice, second largest producer of Groundnut, fruits & vegetables and tops in production of
 mangoes and bananas. India is the world’s largest producer of milk. India has potential to
be leading global food supplier if it creates efficient supply chain & marketing.
 Shift from conventional farming to commercial farming
 With huge population of 1.08 billion India has large growing market with 350 million strong
urban middle class and changing food habits.
 A large part of shift in consumption is to processed food market accounting 32% of total food
market.
 According to the confederation of Indian Industry (CII), the food processing sector has
potential of attracting US $33 billion of investment in 10 years & generates employment of 9
million person days.
 Government has introduced several schemes to promote food processing sector.
 Foreign Direct Investment in the country’s food sector is poised to hit the US $ 3 - billion
mark in coming year. FDI approvals in food processing have doubled in last one year alone.
 In an effort to boost food sector Government is working on Agri-zones & concept of mega
food parks.
 Conducive food policy environment: National policy on food processing aims at increasing
the level of food processing from present 2% to 10% by 2010 & 25% by 2025. Government
has allowed 100% FDI in processing sector. The policy seeks to create an appropriate
environment for entrepreneurs to set up food processing units through infrastructure
development, promotion of farward, backward linkages.
 The vision 2015 of GOI for the food processing sector aims at target increase of Level
processing of perishables from 6 % to 20% value addition from 20 to 35% share in Global
trade from 1.5 to 3% (by 2015).

B. Tech. (Food Technology)

SEMESTER FINAL THEORY EXAMINATIONS
 THIRD YEAR – SECOND SEMESTER 2020-21

FDBM 344 ENTREPRENEURSHIP DEVELOPMENT

KEY FOR PART A

I. Fill in the blanks

1. Julian B. Rotter 6. Foreign Trade Policy
2. Finance 7. Entrepreneur
3. Adoptive 8. Controlling
4. Human Needs 9. Motivation
5. Need Of Achievement 10. Mega Food Park

II. Expand the following

1. SEZ - SPECIAL ECONOMIC ZONE
2. FDI - FOREIGN DIRECT INVESTMENT
3. SME- SMALL MEDIUM ENTERPRISES
4. PPP - PUBLIC–PRIVATE PARTNERSHIP
5. KVIC - KHADI AND VILLAGE INDUSTRIES COMMISSION

III. Underline the correct answer

1. B 2. B 3. B 4. A 5. C
6. A 7. B 8. C 9. D 10. D
11. D 12. D 13. D 14. B 15. A
16. C 17. A 18. A 19. C 20. B

IV. Match the following

4 9 6 10 8 2 1 3 7 5