MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved
MGT602 Entrepreneurship Final term Papers & MCQs
The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing:
Entrepreneurship
Intrapreneurship
Managerial domain
Administrative domain
For the success of business plan the goals should be
Limitless
Generalized
Specific
Imaginary
LMM stands for:
Locally Manufactured Machinery
Locally Manufactured Marble
Local Marble Market
Local Meat Market
Which of the following is NOT essential part of the contract?
All the parties involved should be named
Transaction should be described in detail
Obtain signatures of the persons involved
Place where contract takes place
Normally sponsor links are used in which of the following type of promotion?
Publicity
Trade shows
Personal selling
Internet advertising
The Grameen Bank model is affectively used by which of the following institute?
Education sector
Finance Sector
Rural Sector
NGOs
Which one of the factors should be considered while assessing the space for business?
Parking
Access from roadways to facility
Delivery rates
All of the given options
An actor and a person who managed large project were termed as the entrepreneur in the
_________.
Earliest period
Middle ages
17th century
19th and 20th century
Which of the following usually is NOT deducted to the salaries?
Provident fund
Income Tex
Insurance
Zakat
LLC is more flexible than
S Corporation
Limited Partnership
Sole Proprietor
All of the above
Which of the following is NOT an example of collecting primary data?
Internet
Focus Group
Interview
Observation
Which two work environments should be good for spawning the new enterprises?
Finance and marketing
Finance and R&D
Marketing and R&D
Marketing and IT
Which one of the following should consider in economy while conducting environmental analysis?
GNP
Disposable income
Unemployment
Channel of distribution
__________ is commonly used to measure the short-term solvency of the venture?
Debt to equity ratio
Current ratio
Profitability ratio
Activity ratio
Which one of the following is a barrier to new product creation and development?
Trial and error
Opportunity parameter
Opportunity cost
Intrapreneurship culture
What is a target market?
A group of customers a venture reaches by accident
All consumers who purchase the venture’s product
A specific group of potential customers toward which a venture aims its marketing plan
A chain of discount stores
In stage of responsibility allocation process the entrepreneur follows:
Highly centralized decision making process
Highly decentralized decision making process
Somewhat centralized decision making process
No particular standard
Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?
Creative destruction
New business model
Anatomization
None of the given options
Factors contribute to the creation of new venture EXCEPT:
Government
Finance
High interest rates
Role models
Which one of the following gives suggestions for new product but also helps to market
new product in the market?
Existing products and services
Distribution channels
Federal government
Consumers
The chief motivational factor for _________________ entrepreneurs to leave jobs is the frustration of not being allowed to perform at the level of which they are capable.
Male
Female
Young
All of the given options
Which of the following is the most important for the entrepreneur, while starting a new
venture, to make an assessment of?
Risk
Profit
Market
Competitors
An entrepreneur doing business within the national border is called:
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
A typical inventor is usually ________________________.
Highly creative & in love with the invention
Does not encourage change
Willing to modify the invention in order to augment commercial benefit
None of the given options
According to the governing bodies of common laws, the life of trade secret is:
12 years
17 years
20 years
As long as it remains confidential
A contract must be signed by:
At least one party
Both the parties
Not necessary to sign
By third party
Selling goods to another country by taking care of transactions is called:
Indirect exporting
Direct exporting
Importing
Management contract
Which of the following is alternatively called corporate venturing?
Entrepreneurship
Intrapreneurship
Act of stating a new venture
Offering new products by an existing company
In USA Public Limited Companies may have ______ Director/s
1
2
3
4
Which one of the following is an important source of idea generation due to their
familiarity with the needs of market?
Existing products and services
Distribution channels
Federal government
In which of the following situation the company is considered to be on breakeven point?
No Profit no lose
Profits are higher then expenses
Expenses are higher then profits
None of the given options
Which of the following shows the example of collateral?
Real State
Shares
Tangible property
All of the given options
The difference in the entrepreneurial and managerial domains has contributed towards an increase interest in:
Forming new firms
Partnership
Intrapreneurship
Private firms
Which of the following is NOT a requirement of Disclosure Document?
Description of the invention
Claims for invention’s usefulness
Photos of invention
Cover letter
Professional support network includes following EXCEPT:
Personal affiliations
Mentor
Trade associations
Friends
Which of the following is NOT a characteristic of a marketing plan?
It should be flexible
It should be long and detailed
It should be based on facts and valid assumptions
It should provide a strategy
Degree of influence and control on other people is called:
Locus of control
Locomotion of control
Locust of control
Loss of control
Normally sponsor links are used in which of the following type of promotion?
Publicity
Trade shows
Personal selling
Internet advertising
Which of the following is essential if your business deals with the Paper production?.
Operational Plan
Bank loan
Production plan
Organizational plan
Which one of the following is NOT an internal factor?
New technology
Manufacturing
Marketing
Personnel
The longest lasting trade agreement with the objective of liberalizing trade by eliminating
or reducing tariffs, subsidies and quotas is:
Free trade area – FTA
European community – EC
General agreement on tariffs and trade – GATT
The North American free trade agreement – NAFTA
In which of the following business, the records are needed to be maintained on the basis
of monthly charges paid by the customers?
Pharmaceutical
Service venture
Online venture
Auto industry
Which of the following is the previous name of SME?
SPCC
SMEDA
SBFC
FMBC
The entrepreneur’s_______________ depends on his perception of the opportunity.
Commitment to opportunity
Commitment of resources
Control of resources
Strategic orientation
Which of the following are the key factors for choosing the type of financing?
Availability of funds
Assets of the venture
Prevailing interest rates
All of the above options
The difference between the value of a country’s imports and exports over time is called:
Deficit exports
Deficit imports
Balance of payment
Balance of debt
Licensing is a significant marketing strategy to:
Use intellectual property of others
Pirate others’ patents
Grow the business in new markets
Control the costs
The _________ plan should contain control points to ascertain progress.
Business
Marketing
Financial
Operational
Which one of the following method shows the term which is related to starting from
scratch to a bigger picture?
Upward movement method
Incremental method
Downward movement method
None of the above options
Which is one of the most important leadership qualities among managers and employees
in the organization?
Entrepreneurship
Communication
Motivation
Staffing
Which of the following contains large number of new ideas?
Files of Patent office
Official Gazette
Government patent Board
All of the given option
Which of the following firm achieves modest growth:
High potential growth firm
Foundation firm
Life style
Public company
Which of the following is representing a single expense account?
Depreciation
Cash account
Wages & Salaries
Utilities account
Which one of the following is a barriers to new product creation and development?
Trial and error
Opportunity parameter
Opportunity cost
Intrapreneurship culture
Targeting the market consists of ______ Procedures
1
2
3
4
Which one of the following is important for international business to avoid trade barriers?
Protectionist attitude
Entrepreneurial partnering
Free trade areas
None of the given options
Which of the following ratio will be helpful for assessing the firm’s capital structure?
Current ratio
Acid test ratio
Profitability ratio
Debt to equity ratio
A typical inventor is usually ________________________.
Highly creative & in love with the invention
Does not encourage change
Willing to modify the invention in order to augment commercial benefit
None of the given options
Following are the types of non equity arrangements EXCEPT:
Licensing
Management contracts
Direct export
Turnkey projects
In terms of chronological age, most entrepreneurs initiate their entrepreneurial carrier
between ages of:
15 and 22
22 and 45
45 and 57
57 and 63
Which of the following is included in the description of the business?
Location
Products offered
History
All of the given options
Companies identify their assets with the date of purchase, because it can be helpful in
determining depreciation for:
Goodwill
Trade rebate
Tax purposes
Capital structuring
What is the primary concern of founders who trade equity for capital for their growing
venture?
Capitalization
Investor capabilities
Valuation
Control
The creative process for problem solving that involves making the strange familiar in first
step and then making the familiar strange through personal, direct or symbolic analogy is
called:
Synectics
Gordon method
Checklist method
Scientific method
Capital rising entirely depends on the entrepreneur in which of the following entity?
Corporation
Sole Proprietorship
Partnership
All of the above
Which of the following is another exit to the equity partnership arrangement?
Impartial partnership
General partnership
Royalty partnership
Minor partnership
Selling goods to another country through a person in the entrepreneur’s home country is known as:
Trading
Direct export
Indirect export
Domestic sales
Developing a new idea through inquiry and testing is called:
Heuristics
Forced relationship
Scientific method
Value analysis
What can be the effect on cash flows due to delays in payments by the clients?
Positive cash flows
Negative cash flows
No effect on cash flows
None of the given options
The Marketing Plan section should focus for the strategies of
First Year
First two years
First Three Years
First four years
The business plan should be prepared by:
Entrepreneurs
Consultants
Engineers
All of above options
All of the following are essential to maintain secrecy EXCEPT:
Train employees to refer sensitive questions to one person
Discuss business in public places
Provide escorts for all office visitors
Use simple security such as locked file cabinets
Assessment of the needed resources by the entrepreneur starts with:
An appraisal of the entrepreneur’s present resources
An assessment of economic conditions of the country
A scanning of friends and family for funds
A survey of banks and other financial institutions in the area
The former USSR received technology and syrup from Pepsi and provided it with Soviet
vodka and rights to distribute it in the US. This is an example of:
Economic development
Barter system
Balance of payment
International trade
Health insurance premium is less expensive if there is:
One insured participants
Ten participants
Large group of participants
Very small group of participants
In which of the following year implementation of SBA Financial plan took place?
1971
1972
1973
1974
The resources acquired from others(creditors, banks etc) are usually:
Easily available
Difficult to obtain
Very useful
Very cheap
Lenders are primarily interested in the:
Personal relationship
Ability to pay back loan
Progress of the venture
The entrepreneur utilizes the resources through:
Identifying and evaluating the opportunity
Developing a business plan
Implementing the business plan
Manage the enterprise
Focus group discussion carries in
Formal Way
Informal Way
Both of the above
Problemat way
Which one of the following best represents the environment of an entrepreneurial
oriented organization?
Corporate culture
Entrepreneurial culture
Intrapreneurial culture
Traditional culture
Question No: 1 ( Marks: 1 ) – Please choose one The level at which an individual is viewed by society is called:
► Financial status
► Qualification
► Social status
► Achievement
Question No: 2 ( Marks: 1 ) – Please choose one Individuals who help the entrepreneur in business activities are called:
► Role models
► Moral support networks
► Professional support networks
► Business support networks
Question No: 3 ( Marks: 1 ) – Please choose one Following are the problems in developing the economies EXCEPT:
► Gap of knowledge
► Variable rate of return
► Same communication style
► Different accounting system
Question No: 4 ( Marks: 1 ) – Please choose one Which one of the following is a business arrangement in which someone else is allowed
to use something of the company?
► Patent
► Trade mark
► Copy right
► Licensing
Question No: 5 ( Marks: 1 ) – Please choose one Which of the following method entrepreneur can use to do international business with
least risk?
► Turnkey projects
► Joint venture
► Merger
► Synergy
Question No: 6 ( Marks: 1 ) – Please choose one Combination of at least two firms at different market levels is called:
► Joint venture
► Synergy
► Horizontal merger
► Vertical merger
Question No: 7 ( Marks: 1 ) – Please choose one A patent is granted for a specified amount of time because of the assumption:
► That during this time firm will cover its development costs
► That firm will earn a sufficient profit during this period
► To limit the monopoly of the firm
► That it will stimulate idea and development of a better product
Question No: 8 ( Marks: 1 ) – Please choose one A/an ______ is an online connection between the company and its customers.
► Internet advertising
► Website
► E-Commerce
► World Wide Web
Question No: 9 ( Marks: 1 ) – Please choose one
Which one of the following is the next stage to the Concept Stage of Product Planning
and Development Process?
► Idea Stage
► Product Planning Stage
► Product Development Stage
► Test Marketing Stage
Question No: 10 ( Marks: 1 ) – Please choose one Which of the followings give the owners a negative right, preventing anyone from
making, using, or selling the invention?
► Patent
► Copyright
► Trade mark
► Trade secret
Question No: 11 ( Marks: 1 ) – Please choose one Which one of the following is a longest lasting trade agreement with the objective of
liberalizing trade by eliminating or reducing tariffs, subsidies and quotas?
► Free trade area – FTA
► European community – EC
► General agreement on tariffs and trade – GATT
► The North American free trade agreement – NAFTA
Question No: 12 ( Marks: 1 ) – Please choose one Which of the following grants protection to owner from anyone else making, using and selling the identified innovation?
► Utility patent
► Design patent
► Plant patent
► International patent
Question No: 13 ( Marks: 1 ) – Please choose one Which one of the followings statements is NOT true about trademarks?
► The entrepreneur can not file after the mark already been in use
► A trademark could be a slogan or a particular sound
► Some trademarks have no relationship with the product
► The filing date for the trademark becomes the first date use of the mark
Question No: 14 ( Marks: 1 ) – Please choose one According to the governing bodies of common laws, the life of trade secret is:
► 12 years
► 17 years
► 20 years
► As long as it remains confidential
Question No: 15 ( Marks: 1 ) – Please choose one Which one of the following is the main problem for the entrepreneur in the beginning
stages of creating a new venture?
► Lack of experience
► Limited resources
► Lack of education
► None of the given options
Question No: 16 ( Marks: 1 ) – Please choose one Which one of the following protects continuity of the business(specially in
partnership)?
► Property insurance
► Casualty insurance
► Life insurance
► Bonding
Question No: 17 ( Marks: 1 ) – Please choose one A legally binding agreement between two parties is called:
► A contract
► Licensing
► Insurance
► A copyright
Question No: 18 ( Marks: 1 ) – Please choose one Information regarding all of the following is related to operations, EXCEPT:
► Location
► Promotion
► Raw materials
► Labor skills
Question No: 19 ( Marks: 1 ) – Please choose one Which of the following is NOT studied in industry analysis?
► Economic conditions
► Technology advancements
► Organizational culture
► Legal concerns
Question No: 20 ( Marks: 1 ) – Please choose one Which one of the factors should be considered while assessing the location for
business?
► Parking
► Access from roadways to facility
► Delivery rates
► All of the given options
Question No: 21 ( Marks: 1 ) – Please choose one Which one of the following is NOT included in four C’s evaluation by lender?
► Character
► Cost
► Continuity
► Contribution
Question No: 22 ( Marks: 1 ) – Please choose one Which of the following is a characteristic of a good partner?
► Help to achieve goals
► Share entrepreneur’s vision
► Do not exploit the partnership
► All of the given options
Question No: 23 ( Marks: 1 ) – Please choose one Having more than 50% ownership position that provides the entrepreneur with
managerial control is called:
► Joint venture
► Majority interest
► Horizontal merger
► Diversified activity merger
Question No: 24 ( Marks: 1 ) – Please choose one Which one of the following is a sound strategic option for an entrepreneur when
synergy is present?
► Merger
► Joint venture
► Minority interest
► Majority interest
Question No: 25 ( Marks: 1 ) – Please choose one Which of the following is a method of selling goods to another country by taking care
of transactions?
► Indirect exporting
► Direct exporting
► Importing
► Management contract
Question No: 26 ( Marks: 1 ) – Please choose one Following are the types of non-equity arrangements EXCEPT:
► Licensing
► Management contracts
► Direct export
► Turnkey projects
Question No: 27 ( Marks: 1 ) – Please choose one Andrew Carnegie is an example of entrepreneur of which century:
► Earliest period
► 19th and 20th century
► Middle ages
► 17th century
Question No: 28 ( Marks: 1 ) – Please choose one A person who managed large project was termed as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
► 19th and 20th century
Question No: 29 ( Marks: 1 ) – Please choose one In some countries, point of purchase displays are not allowed in retail stores. Such
differences are studied by international entrepreneurs under __________.
► Economic Environment
► Political Environment
► Cultural Environment
► Technological Environment
Question No: 30 ( Marks: 1 ) – Please choose one
Which of the following factor is most important in forming a new business?
► Finance
► Marketing
► Government support
► Family support
Question No: 31 ( Marks: 1 ) – Please choose one Most of the finance for the new firm comes from following resources EXCEPT:
► Friends
► Foreign aid
► Relatives
► Personal savings
Question No: 33 ( Marks: 1 ) – Please choose one The intersection of knowledge and a recognized social need to start a product
development process is called which of the following?
► Iterative synthesis
► Product-evolution process
► Ordinary innovation
► Situation analysis
Question No: 34 ( Marks: 1 ) – Please choose one A foundation company is formed through which of the following?
► Fashion
► Most popular business
► A winding up company
► Research and development
Question No: 35 ( Marks: 1 ) – Please choose one Which of the following factors is the most important in forcing U.S companies to focus
on new product development and increased productivity?
► Entrepreneurship
► Hyper competition
► Governmental laws
► Organizational culture
Question No: 38 ( Marks: 1 ) – Please choose one Individuals influencing an entrepreneur’s career choice and style are known as which of
the following?
► Role model
► Moral-support network
► Professional support network
► Support system
Question No: 39 ( Marks: 1 ) – Please choose one An entrepreneur is also successful in international business as well if he understands:
► Difference of domestic and international business
► Domestic business
► International business
► None of the given options
Question No: 40 ( Marks: 1 ) – Please choose one Which of the following is NOT an important aspect of international success?
► Planning
► Diversification
► Reporting
► Control
Question No: 41 ( Marks: 5 ) What is meant by role models? What role do they perform?
Question No: 42 ( Marks: 5 )
Briefly discuss the product planning and development process.
MIDTERM EXAMINATION
Spring 2009
MGT602- Entrepreneurship (Session – 4)
Time: 60 min
Marks: 50
Question No: 1 ( Marks: 1 ) – Please choose one
Which of the following has not yet been empirically established as a
distinguishing characteristic of entrepreneurs?
► Locus of control
► Feeling about independence
► Need for achievement
► Risk taking
Which one of the following is a business arrangement in which someone else is allowed
to use something of the company?
► Patent
► Trade mark
► Copy right
► Licensing
Question No: 4 ( Marks: 1 ) – Please choose one
Which of the following method entrepreneur can use to do international business with
least risk?
► Turnkey projects
► Joint venture
► Merger
► Synergy
Question No: 5 ( Marks: 1 ) – Please choose one
A company dealing in beer has a merger with cigarettes manufacturing firm. This merger
is called:
► Horizontal merger
► Product extension merger
► Market extension merger
► Vertical merger
Question No: 6 ( Marks: 1 ) – Please choose one
Which one of the following is an important source of idea generation due to their
familiarity with the needs of market?
► Existing products and services
► Distribution channels
► Federal government
► Consumers
Question No: 7 ( Marks: 1 ) – Please choose one
Members of distribution channels are excellent sources for new ideas because:
► They are familiar with the needs of the market
► They earn a handsome profit from new business
► They do not bother if entrepreneur bears a loss
► They have well-developed sales force
Question No: 8 ( Marks: 1 ) – Please choose one
Which one of the following is the most important characteristic of a successful
business websit?
► Speed
► Innovation
► Graphics
► Products
According to the governing bodies of common laws, the life of trade secret is:
► 12 years
► 17 years
► 20 years
► As long as it remains confidential
Question No: 11 ( Marks: 1 ) – Please choose one
SBA stands for:
► Small business accountants
► Small business administration
► Small business adequacy
► Small business advisors
Question No: 12 ( Marks: 1 ) – Please choose one
Why should an entrepreneur do a feasibility study for starting a new venture?
► To see if there are possible barriers to success
► To identify possible sources of funds
► To estimate the expected sales
► To explore potential customers
Question No: 13 ( Marks: 1 ) – Please choose one
Information regarding all of the following is related to operations, EXCEPT:
► Location
► Promotion
► Raw materials
► Labor skills
Question No: 14 ( Marks: 1 ) – Please choose one
Which one of the following guide the firm through the long term decision making?
► Mission statement
► Product forecast
► Industry analysis
► None of the given options
Question No: 15 ( Marks: 1 ) – Please choose one
Which of the following is included in the description of the business?
► Location
► Products offered
► History
► All of the given options
Question No: 16 ( Marks: 1 ) – Please choose one
For which of the following copy right acquisition is desirable?
► Songs
► Poems
► Models
► All of the given options
Question No: 17 ( Marks: 1 ) – Please choose one
Which of the following is TRUE for Disclosure Document?
► It gives recognition that he was the inventor of the idea in past
► It gives recognition that he is the first the inventor of the idea
► It gives recognition that he will be the invent an idea in future
► It gives recognition that he wants to copy the idea
Question No: 18 ( Marks: 1 ) – Please choose one
Which of the following is idea generation method that focuses on parameters?
► Brainstorming
► Reverse brainstorming
► Creative problem solving
► Synoptic
Question No: 19 ( Marks: 1 ) – Please choose one
The transitional disturbance and lack of reform has led to a booming black market in:
► China
► Hungary
► Singapore
► Poland
Question No: 20 ( Marks: 1 ) – Please choose one
Which of the following geographical area is of least interest to U.S entrepreneurs?
► Europe
► The Far East
► Central Asia
► Transition economies
Question No: 21 ( Marks: 1 ) – Please choose one
Which one of the following gives suggestions for new product and also help to market
new products?
► Existing products and services
► Distribution channels
► Federal government
► Consumers
Question No: 22 ( Marks: 1 ) – Please choose one
Which of the following is used by entrepreneurs to acquire experience in an international
market before making a major commitment?
► Merger
► Joint venture
► Minority interest (Doubted)
► Majority interest
Question No: 23 ( Marks: 1 ) – Please choose one
GATT is established in 1947, under:
► German leadership
► French leadership
► U.S. leadership
► U.K. leadership
Question No: 24 ( Marks: 1 ) – Please choose one
The entrepreneur was distinguished from capital provider in:
► Middle ages
► 18th century
► 17th century
► 19th and 20th century
Question No: 25 ( Marks: 1 ) – Please choose one
A person who managed large project was termed as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
► 19th and 20th century
Question No: 26 ( Marks: 1 ) – Please choose one
Which of the following factor is most important in forming a new business?
► Finance
► Marketing
► Government support
► Family support
Question No: 27 ( Marks: 1 ) – Please choose one
What is the process by which individuals pursue opportunities without regard to
resources they currently control?
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
Question No: 29 ( Marks: 1 ) – Please choose one
Which of the following shows the process of creating something new?
► Business model
► Modeling
► Innovation
► Creative flexibility
In the administrative domain, the commitment of resources is for which of the
following?
► Periodic intervals
► Total amount needed
► For certain tasks
► For long time
Question No: 32 ( Marks: 1 ) – Please choose one
Which of the following is alternatively called corporate venturing?
► Entrepreneurship
► Entrepreneurship
► Act of stating a new venture
► Offering new products by an existing company
Question No: 33 ( Marks: 1 ) – Please choose one
Which is the most common cause of business failure?
► Insufficient capital
► Unstable market
► Insufficient experience
► Poor entrepreneurship
Question No: 34 ( Marks: 1 ) – Please choose one
Which of the following areas are preferred by women entrepreneurs?
► Administration
► Utilities
► Manufacturing
► None of the above
Question No: 35 ( Marks: 1 ) – Please choose one
Degree of influence and control on other people is called:
► Locus of control
► Locomotion of control
► Locust of control
► Loss of control
Question No: 36 ( Marks: 1 ) – Please choose one
Individuals influencing an entrepreneur’s career choice and style are known as which of
the following?
► Role model
► Moral-support network
► Professional support network
► Support system
Question No: 37 ( Marks: 1 ) – Please choose one
The activity which occurs when the new venture is started is called:
► Motivation
► Business skills
► Departure point
► Goal orientation
1. An entrepreneur’s primary motivation for starting a business is
a. To make money
b. To be independent
c. To be famous
d. To be powerful
2. To be successful in an entrepreneurial venture, you need
a. Money
b. Luck
c. Hard work
d. A good idea
3. Entrepreneurs are best as
a. Managers
b. Venture capitalists
c. Planners
d. Doers
4. A successful entrepreneur relies on which of the following for critical management advice
a. Internal management team
b. External management professionals
c. Financial sources
d. No one
5. Entrepreneurs are:
a. High risk takers
b. Moderate risk takers
c. Small risk takers
d. Doesn’t matter
6. Entrepreneurs typically form
a. Service businesses
b. Manufacturing companies
c. Constructive companies
d. A variety of ventures
7. Entrepreneurs:
a. Are the life of the party
b. Are bores at a cocktail party
c. Will never go to parties
d. Just fit into the crowd at a party
8. Entrepreneurs and ventures capitalists:
a. Get along well
b. Are the best friends
c. Are cordial friends
d. Are in conflict
9. An entrepreneur’s primary motivation for high ego and need for
achievement is based upon a relationship with:
a. Spouse
b. Mother
c. Father
d. Children
10. An individual usually begins his or her first significant entrepreneurial
business enterprise at what age
a. Teens
b. Twenties
c. Forties
d. Fifties
1. Personal characteristics to be a successful entrepreneur includes
e. Understanding environment
f. Creating management options
g. Encourage open discussion
h. All of the above
2. Without top management commitment, the organization will
e. Be able to make changes
f. Not be able to make any changes
g. Not be able to make effective changes
h. None of the above
3. Entrepreneurial experience becomes increasingly important as
e. Work load increases
f. Complexity of venture increases
g. Complexity of wok increases
h. None of the above
4. Entrepreneurs are concerned about basic issues of:
e. Sales, costs and benefits
f. Customers, sales and costs
g. Risk, costs and benefits
h. None of the above
5. Licensing arrangements have
e. Low risk process involved
f. Easy way to generate incremental income
g. Several pitfalls
h. All of the above
6. Joint ventures have been used by entrepreneur:
e. When the entrepreneur wants to purchase local knowledge
f. When rapid entry in to the market is needed
g. Both of the options given
h. None of the above
7. A horizontal merger is
e. Is the combination of firms in successive stages of production
f. Is the combination of firms that produce closely related projects
in same area
g. Is the combination of firms that produce same products and sell in
different areas
h. None of the above
8. Main reason(s) for merger is (are)
e. When synergy is present
f. When complementary resources can be combined
g. Economies of scale can be achieved
h. All of the above
9. First stage of production planning and development processes is
e. Idea stage
f. Concept stage
g. Establishing and evaluating criteria stage
h. None of the above
1. NAFTA stands for:
a) North American Free Trade Agreements
b) North Asian Free Trade Agreements
c) National Asian Free Trade Agreements
d) National American Free Trade Agreements
2. The factor______________ is probably the most prevalent reason for mergers.
a) Taxation
b) Economies of scale
c) Inflation
d) Mergers
3. A _____________ merger is a combination of two firms producing the same products but selling them in different geographic markets.
a) Diversified Activity Merger
b) Product Extension Merger
c) Vertical Merger
d) Market Extension Merger
4. One of the most frequent reasons an entrepreneur forms a joint venture is to share the ________________.
a) Resources b) Cos t c) Cost and risk of
a project d) Profit
5. _______________ involves having a foreign purchaser in the local market or using an export management firm.
a) Direct Exporting
b) Indirect Exporting
c) Management Contracts
d) Turn-Key Projects
6. The ______________measures the payments that flow between any individual country and all other countries.
a) International Business
b) Economies of Scales
c) Balance of Payment
d) None of the given options
7. ________________ is an entrepreneurial type who quickly identifies new promising business opportunities but rarely, if ever, follows through on the opportunity to create a successful new venture.
a) Simplicity Sue
b) Shotgun Sam
c) Hidden Agenda Harry
d) Inventor Irving
8. One study found that the typical minority business owner was the
a) Oldest child in a blue-collar family and married.
b) Oldest child in a white-collar family and married.
c) Youngest child in a blue-collar family and married.
d) Youngest child in a white-collar family and married.
9. Traditional managers are:
a) Deals with mistakes and failures
b) Tries to avoid mistakes and surprises
c) Attempts to hide risky projects from view until ready
d) None of the given Options
11. Risk decisions are often postponed until
a) Hard facts can be gathered or a consultant hired to illuminate the
unknown.
b) Hard facts can be gathered or an auditor hired to illuminate the
unknown.
c) There is no need to gather facts and hired a consultant/auditor
d) None of the given options
12. _________________ is one method of stimulating, and then
capitalizing on, individuals in an organization who think that
something can be done differently and better.
a) Strategic Orientation b) Capitalization
c) Intrapreneurship d) Management
13. The typical _________________ has a climate and reward system
that favor conservative decision making.
a) Entrepreneurship culture
b) Corporate culture
c) Intrapreneurial culture
d) None of the given options
14. Female entrepreneurs normally start their venture at the age of
_____________ years.
a) 35-45 b) 25-30 c) 20-25 d) 40-45
15. Male entrepreneurs normally start their venture at the age
of____________ years.
a) 20-25 b) 25-35 c) 40-50 d) After the age of retirement.
16. The ________________ is the process through which innovation develops and commercializes through entrepreneurial activity, which in turn stimulates economic growth.
a) Product-evolution process
b) Technological innovations
c) Breakthrough innovations
d) None of the given options
17. A____________________ is a type of company formed from research and development that usually does not go public.
a) Foundation
b) Life-Style Firm c) High-Potential Venture d) Both
b and c
18. _________________ involve such things as writing, listening, oral presentations, coaching and technical know-how.
a) Business Management skills
b) Personal entrepreneurial skills
c) Technical skills
d) None of the given options
19. The ___________________ means to do things in his or her own
way and time.
a) Need per independence
b) Need for achievement
c) Personal values
d) Ethics
20. ________________ is a reason or set of reasons for engaging in a
particular behavior, especially human behavior.
a) Moral value
b) Act
c) Motivation
1. Any patents, trademarks , copyright or trade secrets held by the
entrepreneur is known as
a. Disclosure document
b. Patent
c. Intellectual property
d. None of the mentioned
2. The organization will never be able to make the necessary changes
without_________
a. Top management commitment
b. Employees
c. Workers
d. None of the mentioned
3. The ways entrepreneurs make decisions.
a. Entrepreneurial domain.
b. Reverse brain storming
c. Heuristics
d. Reverse brain storming
4. A trademark is
5. A word, symbol, name or device that a business uses to identify its
goods.
a. A legal protection for information on foreign products.
b. Legal protection for intellectual works.
c. Legal protection for a U.S. product exported to another country.
6. locus of control is
e. A feeling
f. Attitude
g. Attribute
h. None of the above
7. Licensing arrangements have
i. Low risk process involved
j. Easy way to generate incremental income
k. Several pitfalls
l. All of the above
8. Personal characteristics to be a successful entrepreneur includes
i. Understanding environment
j. Creating management options
k. Encourage open discussion
l. All of the above
9. International entrepreneurship is
a. Licensing
b. Exporting
c. Both of the mentioned options
d. None of the two mentioned
Which of the following is not a characteristic that is helpful for an
entrepreneur to have?
a. Self-esteem
b. Caution
c. Drive
10. Hindrance for going in the international business is known as
a. Synergy
b. Turn key point
c. Trade barrier
d. Minority interest
1. An entrepreneur’s primary motivation for starting a business is
m. To make money
n. To be independent
o. To be famous
p. To be powerful
2. To be successful in an entrepreneurial venture, you need
i. Money
j. Luck
k. Hard work
l. A good idea
4. A successful entrepreneur relies on which of the following for critical
management advice
i. Internal management team
j. External management professionals
k. Financial sources
l. No one
6. Entrepreneurs typically form
m. Service businesses
n. Manufacturing companies
o. Constructive companies
p. A variety of ventures
7. Entrepreneurs:
i. Are the life of the party
j. Are bores at a cocktail party
k. Will never go to parties
l. Just fit into the crowd at a party
8. Entrepreneurs and ventures capitalists:
i. Get along well
j. Are the best friends
k. Are cordial friends
l. Are in conflict
9. An entrepreneur’s primary motivation for high ego and need for achievement is based upon a relationship with:
i. Spouse
j. Mother
k. Father
l. Children
10. An individual usually begins his or her first significant entrepreneurial business enterprise at what age
i. Teens
j. Twenties
k. Forties
l. Fifties
10. Personal characteristics to be a successful entrepreneur includes
q. Understanding environment
r. Creating management options
s. Encourage open discussion
t. All of the above
11. Entrepreneurial experience becomes increasingly important as
m. Work load increases
n. Complexity of venture increases
o. Complexity of wok increases
p. None of the above
12. Entrepreneurs are concerned about basic issues of:
i. Sales, costs and benefits
j. Customers, sales and costs
k. Risk, costs and benefits
l. None of the above
13. Licensing arrangements have
q. Low risk process involved
r. Easy way to generate incremental income
s. Several pitfalls
t. All of the above
14. Joint ventures have been used by entrepreneur:
m. When the entrepreneur wants to purchase local knowledge
n. When rapid entry in to the market is needed
o. Both of the options given
p. None of the above
15. A horizontal merger is
m. Is the combination of firms in successive stages of production
n. Is the combination of firms that produce closely related projects
in same area
o. Is the combination of firms that produce same products and sell in
different areas
p. None of the above
16. Main reason(s) for merger is (are)
m. When synergy is present
n. When complementary resources can be combined
o. Economies of scale can be achieved
p. All of the above
17. First stage of production planning and development processes is
m. Idea stage
n. Concept stage
o. Establishing and evaluating criteria stage
p. None of the above
1. What causes people to do something?
Need for achievement
Need for independence
Motivation
None of the mentioned options
2. Individuals who help the entrepreneur in business activities
Role models
Professional-support network
Parents
None of the mentioned options
3. The managers in an organization strongly supporting
intrapreneurship is called ———
Top management commitment
Upper management commitment
Lower management intrapreneur
Upper management intrapreneur
4. ————- involves a manufacturer giving a foreign manufacturer
the right to use a patent, trademark or technology in return for a
royalty
Licensing
Turn-key projects
Management contracts
1. A set of reasons for engaging in a particular behavior, especially human
behavior is
known as _____________.
a. Values
b. Vision
c. Entrepreneurship
d. Motivation
2. Which of the following techniques is an excellent method for
initially screening ideas and concepts in addition to generating new
ideas?
a. Focus group
b. Brain storming
c. Problem inventory analysis
d. Reverse brainstorming
3. The creative process for problem solving that involves making the
strange familiar in first step and then making the familiar strange
through personal, direct or symbolic analogy is called _________.
a. Synoptic
b. Gordon method
c. Checklist method
d. Scientific method
4. When the multiplicity of environments become too complex to
handle, the international entrepreneurs often __________.
a. Go for mergers
b. Diversify
c. Decentralize operations
d. Sale out the foreign business
5. An entrepreneur into the hosiery business found out the reason his
hosiery was not selling was due to its color. What could be the best
source of this information?
a. Supplier
b. Retailer
c. Competition
d. Government bureau
7. Entrepreneurial success has been significant because of the culture
and the political and economic systems in _________.
a. European countries
b. Asian countries
c. Transition economies
d. Middle east
9. The under-developed or lesser developed countries need
manufacturing technology
and infrastructure and yet do not want to turn over substantial portion
of their
economy to foreign ownership. Which of the following is a solution to
this dilemma?
a. Management contract
b. Indirect exporting
c. Licensing
d. Turn-key project
10. The development of a new venture based on an inventor’s work
often requires
________.
a. Expertise of an entrepreneur
b. Heavy investment from financers
c. Skilled human resources
d. Highly educated staff
Solution No. 1
Gazelles are the firms with:
High growth rate
Moderate growth rate
Zero% growth rate
Low growth rate
The resources acquired from others(creditors, banks etc) are usually:
Easily available
Difficult to obtain
Very useful
Very cheap
Which of the following firm achieves modest growth:
High potential growth firm
Foundation firm
Life style
Public company
Which of the following statements about the intrepreneurial climate is (are) true?
Trial and error are discouraged.
Resources of the firm need to be available and easily accessible
A multidisciplinary approach is discouraged.
Failures are not allowed
The difference in the entrepreneurial and managerial domains has contributed
towards an increase interest in:
Forming new firms
Partnership
Intrapreneurship
Private firms
The commitment of administrative domain to the resources is for:
Periodic intervals
Total amount needed
For certain tasks
For long time
Which one of the following is NOT an intrapreneurial leadership characteristic?
Understands environment
Encourage the team work
Not flexible
Persistent
Factors contribute to the creation of new venture EXCEPT:
Government
Finance
High interest rates
Role models
The activities which occur when the new venture is started are called:
Motivation
Goal orientation
Departure point
Business skills
The entrepreneur must possess the abilities:
Creative
Conceptualization
Understanding environment
All of the given options
In terms of chronological age, most entrepreneurs initiate their entrepreneurial
carrier between ages of:
15 and 22
22 and 45 22 55
45 and 57
57 and 63
Which of the following factors does not affect a person for being an
entrepreneur?
Family background
Education
Personal values
Gender
The chief motivational factor for _________________ entrepreneurs to leave
jobs is the frustration of not being allowed to perform at the level of which they
are capable.
Male
Female
Young
All of the given options
The activities which occur when the new venture is started are called:
Motivation
Goal orientation
Departure point
Business skills
Which one of the following is NOT an intrapreneurial leadership characteristic?
Understands environment
Encourage the team work
Not flexible
Persistent
The startups which rarely go public are called:
Life style
Foundation Company
Small company
High potential venture
It is proved that most businesses failed because of improper planning of an/a:
Investor
Marketer
Entrepreneur
Consultant
Which one of the following culture that has a climate and reward system that
favor conservative decision making?
Entrepreneurial
Intrapreneurial
Corporate
None of the given options
Which one of the following is the fourth step in the entrepreneurial process?
Developing successful business ideas
Deciding to become an entrepreneur
Growing the entrepreneurial firm
Moving from an idea to an entrepreneurial firm
All of the following are the broad categories of External forces EXCEPT:
Economic forces
Socioeconomic forces
Technological forces
Competitive forces
External forces directly affect all of the following EXCEPT:
Market segmentation strategies
Types of products/services offered
Management structure of organization
Choice of businesses to acquire or sell
There is evidence that an entrepreneur usually has _______________ parents.
Self employed
Discouraged
Non supportive
Strict
Government can help in forming new venture by providing:
Finance
Technology
Infrastructure
Subsidiaries
The decision to start a new business is taken when one perceives that forming a
new business is:
Possible
Desirable
Accurate
Both a and b
entrepreneurs differ from male entrepreneurs in terms of following EXCEPT:
Motivation
Business skills
Departure point ???
Goal orientation
An entrepreneur into the hosiery business found out the reason his hosiery was
not selling was due to its color. What could be the best source of this
information?
Supplier
Retailer
Competition
Government bureau
of the following factors has allowed small companies to act like they are big
ones?
Competition
Economic development
Technology
Customers
Which two work environments should be good for spawning the new enterprises?
Finance and marketing
Finance and R&D
Marketing and R&D
Marketing and IT
Which of the following receives highest investment?
High potential venture
Foundation firm
Life style
Public company
of the following has a contradictory relationship with an individual for being an
entrepreneur?
His birth order
Parents’ social status
Parents’ occupation
Relationship with parents
Which one of the following is required to develop a good team for creating
something new?
Relationship with team members
Open discussion
Non flexible behavior
Discouragement of team member’s ideas
Good entrepreneurs are usually from families which are:
Landlords
Capitalists
Can be from any family with supportive parents ???????
Conservative parents
___________ is required if a company wants to be more flexible in adopting
changes.
Management commitment
Contact with customers
Technology
More productivity
It is proved that most businesses failed because of improper planning of an/a:
Investor
Marketer
Entrepreneur
Consultant
Female entrepreneurs differ from male entrepreneurs in terms of following
EXCEPT:
Motivation
Business skills
Departure point
Goal orientation
Q #2: ___________ Process of creating incremental wealth is called
Entrepreneurship.
A. Dynamic
B. Static
C. Continues
D. Systematic
Q #3: Most important factor in forming a new business is:
A. Finance
B. Marketing
C. Govt Support
D. Family Support
Q #4: Which one of the following is the process of entrepreneurs developing new
products that over time make current products obsolete?
A. Creative destruction
B. New business model
C. Anatomization
D. None of the given options
Q #6: Which one of the following is the primary cause of failure in small
businesses?
A. Poor financial control
B. Poor location
C. Management mistakes
D. Improper inventory control
Q #7: Which one of the following is the first step in the entrepreneurial process?
A. Developing successful business ideas
B. Deciding to become an entrepreneur
C. Growing the entrepreneurial firm
D. Moving from an idea to an entrepreneurial firm
Q #8: Which of the following is NOT included in the opportunity evaluation
process?
A. Length of the opportunity
B. Real and perceived value of opportunity
C. Goals and objectives of customers
D. Risks and rewards of opportunity
Q #9: The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing:
A. Entrepreneurship
B. Intrapreneurship
C. Managerial domain
D. Administrative domain
Q #10: The entrepreneur’s_______________ depends on his perception of the opportunity.
A. Commitment to opportunity
B. Commitment of resources
C. Control of resources
D. Strategic orientation
Q #11: Which of the following statements about the entrepreneurial climate is (are) true?
A. Trial and error are discouraged
B. Resources of the firm need to be available and easily accessible
C. A multidisciplinary approach is discouraged
D. Failures are not allowed
Q #12: Which of the following makes the formation of new venture difficult within corporate culture?
Lack of entrepreneurial talent
Lack of freedom to make autonomous decisions
Lack of market opportunity
D. All of the given options
Q #13: Which of the following factors has allowed small companies to act like they are big ones?
A. Competition
B. Economic development
C. Technology
D. Customers
Q #15: Being one’s own boss is a need of:
A. Independence
B. Achievement
C. Affiliation
D. Authority
Q #16: An individual’s need to be recognized is called:
A. Need for independence
B. Need for affiliation
C. Need of fame
D. Need for achievement
Q #17: Which one of the following factors does not affect a person for being an entrepreneur?
A. Family background
B. Education
C. Personal Values
D. Gender
Q #20: Which one of the following is NOT TRUE about male entrepreneurs?
A. Males often have investors, bank loans, or personal loans in addition to personal funds
B. Males often have more experience in manufacturing, finance, or technical areas
C. Men are often more confident and less flexible and tolerant
D. Men usually list outside advisors as the least important supporters
Plan Outline:
1.0 Executive Summary
a. Mission
b. Objectives
c. Keys to Success
2.0 Company Summary
d. Company Ownership
e. Company History
f. Company Locations and Facilities
3.0 Services
g. Service Description
h. Competitive Comparison
i. Sales Literature
j. Fulfillment
k. Technology
l. Future Services
4.0 Market Analysis Summary
m. Market Segmentation
n. Service Business Analysis
i. Main Competitors
ii. Competition and Buying Patterns
iii. Business Participants
iv. Distributing a Service
5.0 Strategy and Implementation Summary
o. Marketing Strategy
i. Promotion Strategy
ii. Distribution Strategy
iii. Positioning Statement
iv. Pricing Strategy
p. Sales Strategy
i. Sales Programs
ii. Sales Forecast
6.0 Management Summary
2. Organizational Structure
3. Appendix
There is an evidence that an entrepreneur usually has _______________ parents.
Self employed
Discouraged
Non supportive
Strict
Which one of the following makes formation of new ventures within a corporate structure
difficult?
Lack of intrapreneurial talent ??
Lack of freedom to make autonomous decisions
Lack of market opportunity
Lack of knowledge
Question # 8 of 10 Total Marks: 1
Professional support network includes following EXCEPT:
Personal affiliations
Mentor
Trade associations
Friends
Which of the following is NOT a characteristic of an entrepreneur?
Need for independence
Need for affiliation
Need for achievement
Risk taking
With a commercial history of only 300 years, which country was a new comer to
the international arena?
► Japan
► U.S
► China
► U.K
International entrepreneur’s decisions are more complex because of:
► Business expansion
► Analysis of Huge information is difficult
► Complex transactions
► Uncontrollable factors
Which of the following techniques is an excellent method for initial screening
of ideas and concepts?
► Focus group
► Problem inventory analysis
► Brain storming
► Reverse brainstorming
Which one of the following is a method for obtaining new ideas and solutions by
focusing on problems?
► Product inventory analysis
► Gordon method
► Checklist method
► Scientific method
The marketing perspective of business plan considers the venture through the
eyes of:
► Investor
► Customer
► Entrepreneur
► Marketing manager
Question No: 16 ( Marks: 1 ) – Please choose one
Which one of the following is NOT a condition of a contract?
► An offer is made
► An acceptance of offer
► Counter offer
► Consideration is given
Trade barriers cause:
► Increase in cost
► Decrease in cost
► Increase in profit
► None of the given options
Which of the following is a method of selling goods to another country through
a person in the entrepreneur’s home country?
► Trading
► Direct export
► Indirect export
► Domestic sales
Which of the following is required for a company that wants to be more flexible
in adopting changes?
► Management commitment
► Contact with customers
► Technology
► More productivity
Which of the following typical culture has a climate and reward system that
favors conservative decision making?
► Entrepreneurial
► Intrapreneurial
► Corporate
► None of the given options
Which of the following statement about the intrapreneurial climate is true?
► Trial and error are discouraged
► Resources of the firm need to be available and easily accessible
► A multidisciplinary approach is discouraged
► Failures are not allowed
Which of the following are known as barriers to new product creation and
development?
► Trial and error
► Opportunity parameters
► Opportunity cost
► Intrapreneurship culture
All of the following are true regarding male entrepreneurs EXCEPT:
► Typically most male entrepreneurs are first-borns ??
► Dissatisfaction with present job is a departure point for a male entrepreneur
► Male entrepreneurs mostly have a occupational background of middle-management
or administrative-experience in the field
► Male entrepreneurs tend to be opinionated and persuasive in their approach
Entrepreneurial endeavors consist of all of the following key elements Except:
► New business venturing
► Increasing productivity
► Innovativeness
► Proactiveness
Which of the following factor does not affect a person for being an
entrepreneur?
► Family background
► Education
► Personal values
► Gender ??
The former USSR received technology and syrup from Pepsi and provided it with
Soviet vodka and rights to distribute it in the US. This is an example of:
► Economic development
► Barter system
► Balance of payment
► International trade
An entrepreneur doing business within the national border is called:
► International entrepreneurship
► Intrapreneurship
► Domestic entrepreneurship
► None of the given options
Which one of the following may need the business plan?
► Employees
► Investors
► Advisors
► All of the given options
Following are the types of foreign direct investment EXCEPT:
► Joint venture
► Management contracts ??
► Minority interest
► Merger
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