MGT602_ Entrepreneurship

Final Term MCQ & Papers

Solved

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

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

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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 NOTan 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. 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

Is that available in pdf format?

Past papers 

Attachments:

jazakALLAH Khair 

jazakALLAH Khair 

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