Explanation : Administrative Entrepreneurship: The entrepreneurial activity under this category is centered around administrative techniques and functions. It gives a new option to handle prevailing or future situations in a more effective way that provides advantages and competitive edge.
Total Quality Management, job redesigning, new techniques of doing things, participative management or management by consensus is a few of the examples of administrative entrepreneurship that increase overall organizational efficiency and that nukes the firm successful and sustainable in the competitive market environment.
Explanation : The latest definition of Sickness given by the Working Group on Rehabilitation of Sick Units set up by the RBI (Kohli Committee)
is given below:-
“A small scale industrial unit is considered sick when
(a) If any of the borrowal accounts of the unit remains substandard for more than six months, i.e., principal or interest, in respect of any of its borrowal accounts has remained overdue for a period exceeding one year will remain unchanged even if the present period for classification of an account as substandard is reduced in due course; OR
(b) There is erosion in the net worth due to accumulated losses to the extent of 50 percent of its net worth during the previous accounting year, and
(c) The unit has been in commercial production for at least two years.”