Question

You are an entrepreneur who is deciding the operational plan for your business. While deciding for the technology to be used, you come across two alternatives: 

(i)Use a cheaper technology which lets you dispose off the waste water and lets you fix the price of your product low. 

(ii)Use a technology that is a little expensive as it lets you recycle that waste water into water fit for drinking. In this case you will have to fix the price a little higher in order to earn profits. 

(iii) Use the technology that recycles the waste, do not change the price. And go about cost cutting though efficient utilization of resources. Give reasons for your selection of alternative

Answer 1

As an entrepreneur I will go for the third alternative i.e. alternative Ec’. 

This is because of following:

(i) It indicates the efficient utilization of resources.

(ii) It will also mean proper utilisation and re-utilisation of resources. It shows the entrepreneur’s concern for environment.

(iii) This step indicates that the entrepreneur is aware of his responsibility as a mark of citizenship.

(iv) This step reflects the resourse fullness trait of the entrepreneur.