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MRDE-004: Entrepreneurship and Rural Development

MRDE-004: Entrepreneurship and Rural Development

IGNOU Solved Assignment Solution for 2022-23

If you are looking for MRDE-004 IGNOU Solved Assignment solution for the subject Entrepreneurship and Rural Development, you have come to the right place. MRDE-004 solution on this page applies to 2022-23 session students studying in MARD courses of IGNOU.

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Assignment Code: MRDE-004/TMA/2022-23

Course Code: MRDE-004

Assignment Name: Land Reforms and Rural Development

Year: 2022-2023

Verification Status: Verified by Professor


Note: The assignment has three sections. It contains questions, which require long, medium, and short answers. A long answer should not exceed 1000 words. Medium answers should not exceed 500 words each. Short answers should not exceed 100 words each.


Long Answers Questions


Attempt any One of the following:


Q1) Discuss the primary management functions in managing a rural enterprise.

Ans) A new business owner needs a long-term plan. Thus, planning is the most essential management function. Selecting a product line and technology is essential. Production/services must be organized next. The business needs men, money, and materials to start production. To run the business, the entrepreneur-manager must hire and select suitable staff. To help readers understand the complexities of managing a rural enterprise, this section discusses each of these four primary management functions with examples and cases.  Management functions include planning, decision-making, organizing, and staffing.


Planning: Planning incorporates goal setting and a strategy. Business management requires it. Strategic and tactical planning. Strategic Planning: Entrepreneurs' vision, mission, and long-term goals constitute strategic planning. Successful entrepreneurs rarely plan. Small and rural firms struggle with strategy. Management is adaptable. Predictive management—setting goals, policies, and strategies—is too expensive. Larger firms invest heavily in capital and human resources, anticipate demand, and control the market to achieve their goals, while smaller firms must adapt to market forces. Rural entrepreneurs need long-term planning. Small units may manage through close connections or kinship. Management's adaptability makes smaller units less professional.


Operational Planning: After setting long-term goals and strategic plans, an entrepreneur attempts to operationalize enterprise activities to achieve them. In this attempt, she clearly states daily operational plans with short-term goals. These operational plans may succeed. Operational planning is essential to entrepreneurial success. To achieve short- and long-term goals, successful entrepreneurs use operational planning. Rural entrepreneurs achieve short-term goals with operational planning. Rural entrepreneurs plan and execute well because they control their daily business activities. A rural entrepreneur's daily operational plans are successful because she usually starts an enterprise for which she has sufficient knowledge, skills, and competencies.


Decision-Making: Managing a business or small business and turning it into a profitable, productive organization requires decision-making. Entrepreneur-managers must make smart decisions at the right time. It involves finding, choosing, and implementing a solution to a problem or opportunity to achieve business goals. Rural entrepreneurs make many daily decisions to manage production, sales volumes, working capital needs, product or service quality, costs, profits, etc. Entrepreneurs make wise decisions. Entrepreneurs must take risks to make good decisions. The results and consequences usually determine a decision's rightness.


Product Choice: Entrepreneurs make many product choices. An electric mains switch is easier to market than a simple product. Simple product marketing takes longer and yields less. With difficult products, the entrepreneur can even monopolies the market, but with simple products, he faces heavy competition from many market players. Selecting the right technology boosts product quality and market share. A spice manufacturer installed an imported machine to powder spices at low temperatures without affecting quality, unlike indigenous machines that generate heat during grinding. The product's quality returns an entrepreneur's investment. Successful entrepreneurs make decisions that work out. Their business success may be due to good decision-making.


Services/Production: Successful rural entrepreneurs organise production or services. According to the project concept, she instals machinery, organises space, and starts the business. Checking production reduces waste and quality for rural management. Technical entrepreneurs manage production. Product line beginners focus about production. Thus, small enterprises need manufacturing and never waste production time. The entrepreneur-manager studies the raw material market, identifies new dealers, and spends a lot of time buying superior supplies and components for the business. Entrepreneurs manage rural enterprises to cut costs. Management must know all raw material components and suppliers to price competitively. Finding reliable raw materials takes time. It needs multiple tests. Good managers recognise "no pain, no gain." Startups hire many qualified and unskilled individuals. Staff—workers, technicians, mechanics, foremen, supervisors, managers, etc.—is the most significant resource for production and the company's ideal project.


Staff Recruitment: The entrepreneur must find people who share her dream, values, standards of excellence, and quality products or services. Entrepreneurs struggle to find the right people.


Management Staffing: They hire relatives in management for ease, familiarity, understanding, and lesser risk. Results are mixed. Some relatives collaborated, but conflicts closed companies. Entrepreneurs' adaptive management style requires primary partnerships. Retired government employees or middle-aged people rarely become small business managers due to high expectations and performance criteria. Most small-business managers are inexperienced. They're self-taught. To keep things going, the entrepreneur-owner must undertake other people's work. Hiring managers requires skills and personalities. Emotionless managers are good. Skilled shop floor supervisors and foremen affect production and quality.


Staff: Entrepreneurs can run most businesses. She requires trained people to manage important responsibilities. Manpower includes workers, foremen, managers, technicians, mechanics, and others. Teamwork can achieve organisational goals. Good managers help skilled workers become experts. Good managers maximise staff. They want shop floor efficiency. Thus, talent recognition, job freedom, and adequate remuneration must be addressed. Entrepreneurs must recruit and develop excellent talent. To become company assets, they need development chances.


Training Amateurs: Rural industries may not employ skilled workers, making them hard to find. However, unskilled laborers learn everything on the job and may take longer. In such cases, skilled labour may leave. When these people leave, unskilled labour may take over with mixed results.

Unskilled workers are rarely given technical training for fear of them leaving for better opportunities. Machine operators need specialized training to perform specific tasks. Staff should be assessed, given tasks, and trained to become experts. Otherwise, the employee may become jack-of-all-trades but master of none.


HR: Entrepreneurs must be patient and empathetic to assess production issues and work with employees to improve product quality. The company should also train humble, creative, and inquisitive workers to boost production. It's also important to avoid sycophancy in the company, which could kill it. Sycophancy in the workplace can make the company sick and sink it. Instead, protect and consider a "No." Avoid bad decisions and business chaos by not listening to a "Yes" man or sycophant. It's important to listen to and promote capable, objective staff. Independent thinkers and doers are competent. Nepotism, or favouring relatives, is also bad management. Therefore, the entrepreneur must lead her business to efficiency and competence.


Medium Answers Questions


Attempt any Two of the following:


Q1) Highlight the entrepreneurial experience ‘Back to Roots’ of Shri Sanjay Singh.

Ans) Sanjay earned an Electrical Engineering Diploma from Institute of Engineering & Technology. Rural Technology, Allahabad, B.E. Institution of Engineers (Electrical) Calcutta. He earned a master's degree afterwards for his employment. In Sociology and a Certificate Course in Empowering Women through Self Support Groups from IGNOU. Sanjay is the first engineer in his family and subdivision.


He had a chance in January 1998 to become an entrepreneur and leave engineering. He was a busy Project Officer (Faculty Member) in the Northern Regional Office of Entrepreneurship Development Institute of India (EDII) and was given the critical International Labour Organization (ILO) at Moradabad to help the Brassware cluster get more work done.


He attended a business workshop while in office.

ILO hosted "Productivity and Competitiveness in the Brass Metalwork Industry."

In January 2000, Moradabad adopted International Labour Standards, followed by the Declaration and Hyderabad in July 2001. ED11 granted him a Moradabad small business project.


India's Science and Technology Department. Job requirements. Micro-level opportunity identification and relevance. local setting up, identifying, choosing, and educating entrepreneurs, and helping them acquire technical, financial, and other business aid. expanding. He was to start 200 small enterprises in four years. He helped almost 200 businesses in a year, and the government commended him. From 2002 through 2006, Sanjay directed Science projects.


Pratapgarh receives technology from the Department of Science and Technology's Technology Entrepreneurship Development Project Gram Vikas Seva Sansthan (U.P.). He supported the following:

  1. Small and micro-businesses should be supported.

  2. Institutionalizing enterprise promotion programs

  3. Putting together training for the leaders of NGOs

  4. SIDBI's RIP program in Uttar Pradesh, Madhya Pradesh, Bihar, and Orissa

  5. Setting up workshops, seminars, and training programs to build up people's skills.

  6. local institutions in small business growth

  7. Giving local institutions advice and professional help in setting up enterprise promotion programs

  8. Setting up programs for faculty development in entrepreneurship

  9. Making connections with national and international organizations that give money or help.

  10. Under Small Industries Bank of India's Rural Industries Program (RIP) (SIDBI), they gave more help with technology and markets in the states of Uttar Pradesh, Bihar, Orissa, and M.P. Some of the changes he made are storing and processing potatoes. Technology Showcase in U.P.'s Gazipur and Maunath Bhanjan districts. to Betul & Dhar in M.P.

  11. Ceramics and Pottery Design and Technology Demonstration items in Chunar and Mirzapur, both in Uttar Pradesh.

  12. Brassware Technology Demonstration

  13. Production happens in Mirzapur, Uttar Pradesh, Hazaribagh and Buxar, Bihar, and Balasore, Orissa.

  14. ED11 had also set up the Handicraft Exporters Meet in Moradabad.

  15. Central Glass and Ceramics Research provides training for ceramics and pottery business owners.

  16. Institute, Khurja, U.P.

  17. With help from the Nav Bharat Jagriti Kendra in Hazaribag, he set up the RIP.

  18. Within a year, 204 small businesses were set up, and the finance minister at the time, Shri. Yashwant Sinha said that the work was great.


Q2) Why is democratic state more conducive for entrepreneurship?

Ans) According to Ezra N. Suleiman, liberal democracy includes political participation, voting rights for all, the right to elect and be elected, access to various sources of information, and inclusive citizenship. Norberto Bobbio defined democracy's institutional basis as primary norms that determine who will make decisions, what procedures should be followed, ever-increasing participation in decision-making to make the regime and state more democratic, making "real choices," and individualistic vision and contract as the basis of society. This is liberal democracy and the democratic state. Western democracy is justified by maximising individual utilities and powers, according to C B MacPherson. These claims are based on providing greater freedom of choice, rootedness in individual personality, equity, utility maximization, and human capacity enhancement. This attempted to combine materialistic utilitarianism and humanism.

Karl Marx called democracy "the essence of every political constitution."


Democracy treated people as people, not legal entities, he said. Scholars like Benjamin Barber, C. Pateman, David Held, J. Keane, and C. Gould saw that democracy was developing and that it meant allowing people to define their own lives while respecting others' rights. Democracy, according to Seymour Lip set, allows the majority of the population to influence decision-making and constitutionally alter governing officials. Democracy is a fight for votes that empowers the people, according to Joseph Schumpeter. Thus, most definitions of democracy need citizen engagement in policymaking and power selection.


State involvement in democratic governance and policymaking is crucial. A rising economy. This framework will explore governmental intervention in developing economies.


State's Role: Development, development economics, and development administration took off in underdeveloped countries after World War II. The State's resources were used to implement development-oriented economic policies. The developmental state's role in any political system was to deliver capital, material, and services to support production. Thus, state intervention was essential to economic development, particularly in developing nations. This idea was later questioned. The State's primary role was shifted to helping markets develop.


Government and Business: The importance of business ownership to the political process grows in states that have adopted democratic government. The development of rural areas, the state's ability to be more democratic and representative, and the promotion of entrepreneurial activity are all areas that stand to benefit from institutional and functional innovations.


Democracy and Innovation: In economies that are still in the process of developing, entrepreneurs may adapt previously tested innovations for the community's benefit. In nations like these, business owners are up against a significant technological and managerial skills gap as a result of the absence of modern technology and management practices. The situation dictates both the choices and creative responses made. As a result, multiple innovations are necessary for successful entrepreneurship.


Short Answers Questions


Attempt any Five of the following:


Q1) Working Capital

Ans) A business owner needs money for numerous operating charges, Money is needed to buy raw materials, consumables, packaging, salaries, rent, premiums, and other services. She would need "working capital" to cover these expenses. The business owner can recoup this money when the goods sell. Until then, the money is making the product. Working capital is the money that is always locked up in current assets such raw materials, work in progress, finished goods, credit granted, and cash needed to maintain sales and manufacturing. The "operational cycle" helps you calculate working capital.


Q2) Break-Even analysis

Ans) Break-even analysis determines prices. Break-even points determine fixed and variable costs. Even if they lose money, the firm owner will profit after two production cycles. Better break-even. To profit, sell the break-even point. If she knows how much to sell, the business owner may order supplies, make products, and sell them. Estimate these basics and calculate your break-even point. Profits anticipate production and working capital. Risk-taking entrepreneurs set "realistic aspirations". Sales match production costs. Sales equal production expenses at break-even. Entrepreneurs maximise their equipment, machines, and labour.


Q3) Market Research

Ans) It helps to get first-hand information. The benefits are greater the more accurate and recent the data is. Marketing research, according to the American Marketing Association, is "the systematic gathering, recording, and analysing of data about problems in the marketing of goods and services."


The marketing research process has five steps, which are:

  1. Problem definition

  2. Plan for research

  3. Field work

  4. Data analysis

  5. Reporting and putting it into action


Market research makes market assessment more scientific. NIR can reveal market structure and competition. It may also test and anticipate marketing plan components.


Q4) Partnership

Ans) Proprietorship responsibility is "joint and several". Partnership entrepreneurship demands trust. Partners must also cooperate to attain goals. Partnerships have two or more persons, contractual relationship, lawful business, profit sharing, agency relationship, limitless responsibility, and non-transferable interest.  Ideal partnerships involve good will, common approach, formal agreement, registration, appropriate capital, abilities, and stability. Indian Partnership Act, 1932 oversees partnerships. Partnerships offer easy formation, big resources, combined abilities and judgement, flexibility, quick decisions, careful operations, survival capability, stronger human-public relations, increased growth potential, and minority interest protection. Conflict, split authority, corporate instability, public distrust, implied authority, unrestricted responsibility, non-transferable interest, and social losses are disadvantages.


Q5) Mal-Integration of Rural and Urban Economy

Ans) Towns had manufacturing, banking, and mercantile capital. Unfortunately, urban manufacturers had to rely on aristocratic consumption and exports, a small market. Most rural residents were impoverished due to persistent rural sector drain. Rural Mughal India lacks the "" to develop organised factory-type industries in towns. Most peasants sold their harvests to satisfy high land revenue demands, slowing rural consumption and preventing a substantial domestic market for mass-produced industrial goods. Exporting commodities did not stimulate industrial or economic activity. Gold, silver, and precious stones were largely imported and hoarded. They represented vast unproductive riches. Merchants relied on monarchs' village extraction because urban enterprises were disconnected from rural markets.

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