Correct Answer - Option 1 : study how these persons are trying to implement new research-based processes, design products by recognizing the new or changing needs of the society or markets, and how they plan to apply and employ technology to their vision and then select proposals.
The correct answer is option 1
Summary: Here, in this case, the situation is you are head of the department which promotes the industries, you are making a good profit out of this but in present years young and talented youths are coming with new innovative ideas, in which new techniques are used, now problem is that you finds it difficult to accept their proposal and also assist them financially. So in this case you need to study how these persons are trying to implement new research-based processes, design products by recognizing the new or changing needs of the society or markets, and how they plan to apply and employ technology to their vision and then select proposals.
| Answer |
Statement |
Conclusion |
| Most appropriate |
study how these persons are trying to implement new research-based processes, design products by recognizing the new or changing needs of the society or markets, and how they plan to apply and employ technology to their vision and then select proposals. |
Here, you need to study the new techniques and strategies which are used by today's society in promoting the business industries and also try to learn from it, forgetting all the past strategies and processes you were following. |
| appropriate |
take time for studying the proposals in detail and take initiative in developing new rules for proposal selection that are flexible and consider the knowledge age needs of a particular industry. |
Taking the time and studying it properly would be a good decision as it will help you in giving the clarity whether to pass the proposal or not. |
| Less considerable |
select proposals that are developed by persons ready with venture capital to handle the risk of loss and let them experiment with their new ideas for promoting entrepreneurship in the state. |
As new, businesses is having a risk factor too, so comparing all the business proposals, we need to sort those business proposals which risk ready and have large venture capital to handle it.
Comparing the above options this might be less considerable.
|
| Inappropriate |
work with the rule book as you did for the last twenty-five or more years to be on the safe side because you are expected to handle available funds' responsibility. |
Here working on the processes which you are using for a long time will not be relevant in this case, as, in this today's world we need to work with the technology and with new ideas so you also need to upgrade your self, and if the proposal of the business industry seems to be bright in future then without thinking of the funds, you should pass it. |
