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(b) How many words have shifted from the passive list to the active list?
Ans.All language learners have a much wider passive (or receptive) vocabulary (i.e. words they
recognise and understand) than the range of active (or productive) vocabulary that they actually can
(and do) make use of. Generally, as our learning progresses, the words in our passive vocab get
transferred to our active repertoire as we become confident enough to use them. Up to a certain level,
that process seems to be fairly natural; we need and want to talk about things which pushes us to start
using new words. Somewhere around intermediate level though, that process often stalls. You reach a
point where you can communicate most basic ideas adequately, so you just rely on the same old,
familiar words and phrases you've grown comfortable with. It may be that your passive vocabulary
continues to expand as you read more complex texts on a variety of subjects and you 'learn' new words,
but whether those words then get put to use is quite a different matter, because they're often not
strictly needed to communicate.
Firstly, just because you've met a word once doesn't mean you know it. Learning vocabulary is a
complex and gradual process that involves repetition and recycling; you need to encounter a word
repeatedly in different contexts to get a feel for it. Especially at higher levels, you need to understand
how a word's used (its register, collocations, colligation) in order to really get to know it. And of course,
English is a highly polysemous language; a single word can have several different meanings or be used in
different expressions, so you can't just tick a single sequence of letters off a list and say you know it!
And then there's knowing and there's knowing. We really need to consider whether we're focusing on a
particular lexical item because we want students to recognise it (as part of their passive vocab) or
whether we expect them to actually start using it as part of their active vocabulary. And we need to
think about how we can shift words from the passive category to the active. When students say they
already 'know' word, we need to challenge them to start using it; to explicitly recognise and encourage
that process of shifting from one set to the other.
Innovation, on the other hand, is completely measurable. Innovation is about introducing change into
relatively stable systems. It’s also concerned with the work required to make an idea viable. By
identifying an unrecognized and unmet need, an organization can use innovation to apply its creative
resources to design an appropriate solution and reap a return on its investment.
Organizations often chase creativity, but what they really need to pursue is innovation. Theodore Levitt
puts it best: “What is often lacking is not creativity in the idea-creating sense but innovation in the
action-producing sense, i.e. putting ideas to work.”
Entrepreneurs need to use economic calculation if they are to direct factors of production toward their
most valued uses. Market prices allow entrepreneurs to make meaningful comparisons of social value
between different consumers’ and producers’ goods because prices are all expressed in terms of the
same good. These same objective prices are determined by the subjective preferences of buyers and
sellers:
If the expected price of a final product is greater than the sum of the prices of the factors of
production, the entrepreneur will produce that good.
When entrepreneurs reap a profit, they do it precisely by providing those goods that people
value the most in the least costly manner.
One cannot neatly sever the components responsible for economic expansion from one another and
find a single key that explains economic progress:
A highly developed division of labor would be impossible without the accumulation and use of
capital goods.
Likewise, the entrepreneur must invest real capital in the production process and if he errs in his
market forecast, he can indeed reap large losses.
At the same time, capital per se never guarantees economic progress either, because it must be
wisely utilized.
Economic progress is the happy consequence of a highly developed division of labor, taking advantage
of an increasing capital stock wisely invested by entrepreneurs.
b) Small Scale industries are businesses that require few people to run.
Ans.Small scale industries play a vital role in the economic development of our country.
This sector can stimulate economic activity and is entrusted with the responsibility of realising various
objectives generation of more employment opportunities with less investment, reducing regional
imbalances etc. Small scale industries are not in a position to play their role effectively due to various
constraints. The various constraints, the various problems faced by small scale industries are as under:
(1) Finance: Finance is one of the most important problem confronting small scale industries Finance is
the life blood of an organisation and no organisation can function proper у in the absence of adequate
funds. The scarcity of capital and inadequate availability of credit facilities are the major causes of this
problem. Firstly, adequate funds are not available and secondly, entrepreneurs due to weak economic
base, have lower credit worthiness. Neither they are having their own resources nov are others
prepared to lend them. Entrepreneurs are forced to borrow money from money lenders at exorbitant
rate of interest and this upsets all their calculations. After nationalisation, banks have started financing
this sector. These enterprises are still struggling with the problem of inadequate availability of high cost
funds. These enterprises are promoting various social objectives and in order to facilitate then working
adequate credit on easier terms and conditions must be provided to them.
(2) Raw Material: Small scale industries normally tap local sources for meeting raw material
requirements. These units have to face numerous problems like availability of inadequate quantity,
poor quality and even supply of raw material is not on regular basis. All these factors adversely affect t e
functioning of these units. Large scale units, because of more resources, normally corner whatever raw
material that is available in the open market. Small scale units are thus forced to purchase the same raw
material from the open market at very high prices. It will lead to increase in the cost of production
thereby making their functioning unviable.
(3) Idle Capacity: There is under utilisation of installed capacity to the extent of 40 to 50 percent in case
of small scale industries. Various causes of this under-utilisation are shortage of raw material problem
associated with funds and even availability of power. Small scale units are not fully equipped to
overcome all these problems as is the case with the rivals in the large scale sector.
These are designed to be done in a few days, and aim to provide "go-no go" decisions. Fortunately,
most of the feasibility analysis is used in the business plan.
b) Venture capital
Ans.Venture capital is financing that investors provide to startup companies and small businesses that are
believed to have long-term growth potential. For startups without access to capital markets, venture capital is an
essential source of money. Risk is typically high for investors, but the downside for the startup is that
these venture capitalists usually get a say in company decisions.
Venture capital generally comes from well-off investors, investment banks and any other financial
institutions that pool similar partnerships or investments. Though providing venture capital can be risky
for the investors who put up the funds, the potential for above-average returns is an attractive payoff.
Venture capital does not always take a monetary form; it can be provided in the form of technical or
managerial expertise. For new companies or startup ventures that have a limited operating history,
venture capital funding is increasingly becoming a popular capital raising source, as funding through
loans or other debt instruments is not readily available.
c) Listening skills
Ans.Listening is the ability to accurately receive and interpret messages in the communication process.
Listening is key to all effective communication. Without the ability to listen effectively, messages are
easily misunderstood. As a result, communication breaks down and the sender of the message can
easily become frustrated or irritated. If there is one communication skill you should aim to master, then
listening is it.
Listening is so important that many top employers provide listening skills training for their employees.
This is not surprising when you consider that good listening skills can lead to better customer
satisfaction, greater productivity with fewer mistakes, and increased sharing of information that in turn
can lead to more creative and innovative work.
d) Report writing
Ans.There are many different types of reports - scientific lab reports, business reports, systems analysis
reports, management case study reports, feasibility studies, client case work reports. All of these
different reports have their own formats and conventions.In this tutorial you can examine a sample
first-year management case study report. The report received a grade of High Distinction. Comment is
made by the subject lecturer and Language and Learning staff on the structure, presentation, and
expression used in the report, and improvements are suggested. In your field of study, you will need to
find out exactly what the accepted report conventions are. Note that these conventions may vary from
one subject to the next. A report is written for a clear purpose and to a particular audience. Specific
information and evidence are presented, analysed and applied to a particular problem or issue. The
information is presented in a clearly structured format making use of sections and headings so that the
information is easy to locate and follow. When you are asked to write a report you will usually be given
a report brief which provides you with instructions and guidelines. The report brief may outline the
purpose, audience and problem or issue that your report must address, together with any specific
requirements for format or structure. This guide offers a general introduction to report writing; be sure
also to take account of specific instructions provided by your department.