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Tobin Starts a Catering Company of His Own and Earns

question 107

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Tobin starts a catering company of his own and earns a substantial profit in the first year itself. His total earnings are more than what he used to earn as a salaried person. Which of the following advantages of entrepreneurship is highlighted in the given scenario?


Definitions:

Therbligs

Basic physical elements of motion.

Frederick W. Taylor

Known as the father of scientific management, he introduced time studies and standardized work processes to improve industrial efficiency.

Frank Gilbreth

An early proponent of time and motion study, aiming to improve workplace efficiency by analyzing tasks and reducing unnecessary motions.

Assembly Operation

The process in manufacturing where individual components are joined to form a complete product or part of a product.

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