MPSC State Service 2020 · CSAT · Question 75 of 77

All these years you are heading the department that looks after the promotion of industries and the rule till now is “we were doing this for many years and making good profits and to be safe we should continue with this process in nearing future”. But what you see now that young entrepreneurs with no experience of running a business are coming with their proposals with ideas you never heard of and making it difficult for you the selection for partial financial assistance. You will,

Decision Making

1. Astudy 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.Correct
2. Bwork with the rule book as you did for last twenty five or more years to be on the safe side because you are expected to handle available funds responsibilty.
3. Ctake 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.
4. Dselect 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.