Question

You are an entrepreneur who is deciding the operational plan for your business.
While deciding the technology to be used, you come across three alternatives:
a) Use a cheaper technology which lets you dispose of the waste water and lets
you fix the price of your product low.
b) 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.
c) Use the technology that recycles the waste, do not change the price. And go
about cost cutting though efficient utilization of resources.

Answer 1

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