Question

One of the reasons Omega Distributors, a local manufacturing company, is considered a good place to work is that the managers encourage and reward their employees for developing new products and ways of improving existing products and services. In this example, Omega Distributors’ managers are carrying out the ________ role.
A) talent implementer
B) developer
C) entrepreneur
D) visionary
E) improvement

Answer 1

Answer:

C) entrepreneur

Explanation:

According to my research on different business roles and responsibilities, I can say that based on the information provided within the question In this example, Omega Distributors’ managers are carrying out the entrepreneur role. An entrepreneur is a a person who sets up a business or businesses, taking on financial risks in the hope of profit. Which is what they are encouraging employees to become by developing new products and thinking of financial risks that can pay off and provide benefits for the company.

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Answer 2

The option (C) is correct. Omega Distributors’ managers are carrying out the entrepreneur role.

Further Explanation:

Entrepreneur Role:

An entrepreneur is an individual who establishes the business carries the operational activities to run the business. An entrepreneur is liable for the risk associated with the business and the rewards generated by the business. Following are the main role of an entrepreneur:

• The entrepreneur takes the risk of introducing a new product in the market.

• The entrepreneur is liable for the improvement of the business activity to generate profit for the business.

In the given case, the managers of the Omega Distributors’ are carrying the entrepreneur role because they are encouraging the employees to make new products in order to improve the existing products. Managers are taking the risk of introducing the new product. Therefore, they are carrying the role of an entrepreneur.

Justification for the correct and incorrect option:

A.

Talent implementer: This is an incorrect option.

A talent implementer is a person who allocates the work and uses the talent of the individuals in the most effective manner.

B.

Developer: This is an incorrect option.

The developer is liable for the development of the business. The main aim of the developer is to carry out the activities which would develop the size of the business.

C.

Entrepreneur: This is the correct option.

The entrepreneur is liable for the introduction of the new product and carries out the risk associated activities.

D.

Visionary: This is an incorrect option.

Visionary is the person who carries out the planning for future activities in an effective manner.

E.

Improvement: This is an incorrect option.

Improvement role aims at providing improvement in the current business activities.

Learn more:

1. Learn more about the management characteristics

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2. Learn more about the CRM system

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3. Learn more about the position in the organization

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Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Role of an Entrepreneur

Keywords: Omega Distributors, manufacturing company, managers, encourage, reward, employees, developing, products, improving, existing, products, services, talent implementer, developer, entrepreneur visionary, improvement.