An entrepreneur is an individual who starts a business and risks losses (in terms of money, time and reputation) for profits. Therefore, profits are the rewards entrepreneurs receive for producing goods and services that consumers
want. 

Human resource planning is the process of assessing the future human resource need, determining the availability of the type of people needed and creating plans for how to meet the need.The correct answer is C.

Forces of Demand and Supply

A shortage is when quantity demanded is larger than quantity supplied.

Generally, a small business is independently owned and operated and not dominant in its field of operation with little in?uence in its market.We can measure the size according to the number of employees or the monetary value of a business such as its balance sheet total. Business size standard
varies widely according to the industry and geography.

Organizational effectiveness is the degree to the achievement of organizational goals based on the statements and expectations.

In international business environment there are many appeals and advantages of strategic alliances. These are listed below:
• Better access to feasible countries from host country to import and market products/services.
• Capture economies of scale.
• Fill missing information in technical expertise of local markets.
• Share distribution facilities and dealer network.
• Take advantage of partner’s local market knowledge and networks.
• Combine competitive energies toward defeating mutual rivals.

Internal environmental factors affecting HRM are personal characteristics, job characteristics, and organizational factors.External environmental factors affecting HRM are workforce and demographic trends, government regulations, and economic challenges and trends.The correct answer is A.

Multinational Corporations

A multinational corporation (MNC) is an organizational form, which has operations in more than two countries and it consists of a central firm – usually in the home country- and branches or subsidiaries in foreign countries.

Off-the-job-training involves training methods such as conferences, classroom groups, mobile learning, audiovisual techniques, lectures, computer-based training, and internet-based training.well as it improves employee morale.47 Off-the-job-training takes place at locations away from the work site. This approach offers a controlled environment and allows focused study without interruptions. Conferences, classroom groups, mobile learning, audiovisual techniques, lectures, computer-based training and internetbased training are some of the techniques for offthe-job-training. 

The contingency approach emphasizes that leadership style and best managerial approach change according to environmental factors. Different contingency theories examine the match between the leadership approach and the environmental composition. The correct answer is A.

Economies of scale is the cost advantage that arises with increased output of a product.

Options B,C,D and E are disadvantages of using internal recruiting sources. However, option A is a disadvantage of using externa recruiting sources. The correct answer is A.

Competitive Strategies in Foreign Markets

Licensing is an appropriate choice when a firm has valuable technical know-how or a patented product but lacking international capabilities for positioning in foreign markets. If a firm desires to avoid risks of committing resources to unfamiliar, volatile, unstable markets, licensing would be a good start. Basic disadvantage is the risk of providing valuable technical know-how to foreign firms and losing some control over its use.

Workforce diversity :One of the most powerful forces affecting work organizations is changing worker demographics such as gender, age, ethnicity, seniority, and occupation. The age distribution, characteristics, values, and
expectations of today’s workforce are remarkably different from that of the past

Job posting is publicizing the open job to employees (often by literally posting it on bulletin boards or company intranets) and listing the job’s attributes, like qualifications, supervisor, working schedule, and pay rate. The correct answer is B.

A successful business not only generates income from its sales for the owner(s), it also employs working people with wages and salaries and other potential benefits such as health care, training and retirement.