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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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