Old MGT 602 ~*~ENTERPRENUERSHIP QUIZ DISSCUSSION~*~

Question # 1 Total Marks: 1
Gazelles are the firms with:
Select correct option:


High growth rate

Moderate growth rate

Zero% growth rate

Low growth rate


Question # 2 Total Marks: 1
The resources acquired from others(creditors, banks etc) are usually:
Select correct option:


Easily available

Difficult to obtain

Very useful

Very cheap


Question # 3 Total Marks: 1
Which of the following firm achieves modest growth:
Select correct option:


High potential growth firm

Foundation firm

Life style

Public company


Question # 4 Total Marks: 1
Which of the following statements about the intrepreneurial climate is (are) true?
Select correct option:


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


Question # 5 Total Marks: 1
The difference in the entrepreneurial and managerial domains has contributed towards an increase interest in:
Select correct option:


Forming new firms

Partnership

Intrapreneurship

Private firms


Question # 6 Total Marks: 1
The commitment of administrative domain to the resources is for:
Select correct option:


Periodic intervals

Total amount needed

For certain tasks

For long time


Question # 7 Total Marks: 1
Which one of the following is NOT an intrapreneurial leadership characteristic?
Select correct option:


Understands environment

Encourage the team work

Not flexible

Persistent


Question # 8 Total Marks: 1
Which one of the following is the first step in the entrepreneurial process?
Select correct option:


Developing successful business ideas

Deciding to become an entrepreneur ?????

Growing the entrepreneurial firm

Moving from an idea to an entrepreneurial firm


Question # 9 Total Marks: 1
Factors contribute to the creation of new venture EXCEPT:
Select correct option:


Government

Finance

High interest rates

Role models


Question # 10 Total Marks: 1
The activities which occur when the new venture is started are called:
Select correct option:


Motivation

Goal orientation

Departure point

Business skills


Question # 1 1 Total Marks: 1
The entrepreneur must possess the abilities:
Select correct option:


Creative

Conceptualization

Understanding environment

All of the given options


Question # 12 Total Marks: 1
In terms of chronological age, most entrepreneurs initiate their entrepreneurial carrier between ages of:
Select correct option:


15 and 22

22 and 45 22 55

45 and 57

57 and 63


Question # 13 Total Marks: 1
Which one of the following is the first step in the entrepreneurial process?
Select correct option:


Developing successful business ideas

Deciding to become an entrepreneur ???

Growing the entrepreneurial firm

Moving from an idea to an entrepreneurial firm


Question # 14 Total Marks: 1
Which of the following factors does not affect a person for being an entrepreneur?
Select correct option:


Family background

Education

Personal values

Gender


Question # 15 Total Marks: 1
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.
Select correct option:


Male

Female

Young

All of the given options


Question # 16 Total Marks: 1
The activities which occur when the new venture is started are called:
Select correct option:


Motivation

Goal orientation

Departure point

Business skills


Question # 17 Total Marks: 1
Which one of the following is NOT an intrapreneurial leadership characteristic?
Select correct option:


Understands environment

Encourage the team work

Not flexible

Persistent


Question # 18 Total Marks: 1
Which of the following firm achieves modest growth:
Select correct option:


High potential growth firm

Foundation firm

Life style

Public company


Question # 19 Total Marks: 1
The startups which rarely go public are called:
Select correct option:


Life style

Foundation Company

Small company

High potential venture


Question # 20 Total Marks: 1
It is proved that most businesses failed because of improper planning of an/a:
Select correct option:


Investor

Marketer

Entrepreneur

Consultant


Question # 21 Total Marks: 1
Which one of the following culture that has a climate and reward system that favor conservative decision making?
Select correct option:


Entrepreneurial

Intrapreneurial

Corporate

None of the given options


Question # 22 Total Marks: 1
Which of the following firm achieves modest growth:
Select correct option:


High potential growth firm

Foundation firm

Life style

Public company


Question # 23 Total Marks: 1
In terms of chronological age, most entrepreneurs initiate their entrepreneurial carrier between ages of:
Select correct option:


15 and 22

22 and 45

45 and 57

57 and 63


Question # 24 Total Marks: 1
Which of the following has a contradictory relationship with an individual for being an entrepreneur?
Select correct option:


His birth order

Parents’ social status

Parents’ occupation

Relationship with parents


Question # 25 Total Marks: 1
Which one of the following is the fourth step in the entrepreneurial process?
Select correct option:


Developing successful business ideas

Deciding to become an entrepreneur

Growing the entrepreneurial firm

Moving from an idea to an entrepreneurial firm


Question # 26 Total Marks: 1
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.
Select correct option:


Male

Female

Young

All of the given options


Question # 27 Total Marks: 1
All of the following are the broad categories of External forces EXCEPT:
Select correct option:


Economic forces

Socioeconomic forces

Technological forces

Competitive forces


Question # 28 Total Marks: 1 External forces directly affect all of the following EXCEPT:
Select correct option:


Market segmentation strategies

Types of products/services offered

Management structure of organization

Choice of businesses to acquire or sell


Question # 29 Total Marks: 1
There is evidence that an entrepreneur usually has _______________ parents.
Select correct option:


Self employed

Discouraged

Non supportive

Strict


Question # 30 Total Marks: 1
Government can help in forming new venture by providing:
Select correct option:


Finance

Technology

Infrastructure

Subsidiaries

Question # 2 of 10 Total Marks: 1
The decision to start a new business is taken when one perceives that forming a new business is:
Select correct option:


Possible

Desirable

Accurate

Both a and b

entrepreneurs differ from male entrepreneurs in terms of following EXCEPT:
Select correct option:


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?
Select correct option:


Supplier

Retailer

Competition

Government bureau

of the following factors has allowed small companies to act like they are big ones?
Select correct option:


Competition

Economic development

Technology

Customers

Government can help in forming new venture by providing:
Select correct option:


Finance

Technology

Infrastructure

Subsidiaries

Question # 7 of 10 Total Marks: 1
Which two work environments should be good for spawning the new enterprises?
Select correct option:


Finance and marketing

Finance and R&D

Marketing and R&D

Marketing and IT

The entrepreneur must possess the abilities:
Select correct option:


Creative

Conceptualization

Understanding environment

All of the given options

Question # 9 of 10 Total Marks: 1
It is proved that most businesses failed because of improper planning of an/a:
Select correct option:


Investor

Marketer

Entrepreneur

Consultant

Question # 10 of 10 Total Marks: 1
Which of the following receives highest investment?
Select correct option:


High potential venture

Foundation firm

Life style

Public company

of the following has a contradictory relationship with an individual for being an entrepreneur?
Select correct option:


His birth order

Parents’ social status

Parents’ occupation

Relationship with parents

Question # 2 of 10 Total Marks: 1
Which one of the following is required to develop a good team for creating something new?
Select correct option:


Relationship with team members

Open discussion

Non flexible behavior

Discouragement of team member’s ideas

Question # 3 of 10 Total Marks: 1
The startups which rarely go public are called:
Select correct option:


Life style

Foundation Company

Small company

High potential venture

Question # 4 of 10 Total Marks: 1
Good entrepreneurs are usually from families which are:
Select correct option:


Landlords

Capitalists

Can be from any family with supportive parents ???????

Conservative parents

Question # 5 of 10 Total Marks: 1
___________ is required if a company wants to be more flexible in adopting changes.
Select correct option:


Management commitment

Contact with customers

Technology

More productivity

Question # 6 of 10 Total Marks: 1
Which two work environments should be good for spawning the new enterprises?
Select correct option:


Finance and marketing

Finance and R&D

Marketing and R&D

Marketing and IT

Question # 7 of 10 Total Marks: 1
It is proved that most businesses failed because of improper planning of an/a:
Select correct option:


Investor

Marketer

Entrepreneur

Consultant

Question # 8 of 10 Total Marks: 1
Which one of the following is the first step in the entrepreneurial process?
Select correct option:


Developing successful business ideas

Deciding to become an entrepreneur ???
Growing the entrepreneurial firm

Moving from an idea to an entrepreneurial firm

Question # 9 of 10 Total Marks: 1
Female entrepreneurs differ from male entrepreneurs in terms of following EXCEPT:
Select correct option:


Motivation

Business skills

Departure point

Goal orientation

Question # 10 of 10 Total Marks: 1
The decision to start a new business is taken when one perceives that forming a new business is:
Select correct option:


Possible

Desirable

Accurate

Both a and b

MGT602
1st question was write the principles of corporate culture.
2nd one was trademark and types

Q #1: The entrepreneur was distinguished from capital provider in:
A. Middle ages
B. 18th century
C. 17th century
D. 19th and 20th century

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 #5: The intersection of knowledge and a recognized social need to start a product
development process is called:
A. Iterative synthesis
B. Product-evolution process
C. Ordinary innovation
D. Situation analysis

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 a
corporate culture?
A. Lack of intrapreneurial talent
B. Lack of freedom to make autonomous decisions
C. 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 #14: Which of the following is alternatively called corporate venturing?
A. Entrepreneurship
B. Intrapreneurship
C. Act of stating a new venture
D. Offering new products by an existing company

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 #18: Female entrepreneurs differ from male entrepreneurs in terms of all of the
following EXCEPT:
A. Motivation
B. Business skills
C. Departure point
D. Goal orientation

Q #19: Which of the following areas are preferred by women entrepreneurs?
A. Administration
B. Utilities
C. Manufacturing
D. None of the above

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


Answers


1--B
2--A
3--A
4--A
5--A
6--C
7--B
8--C
9--A
10--D
11--B
12--D
13--C
14--A
15--A
16--D
17--D
18--C
19--B
20--D

Mgt 602 complete project

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

mgt602 Enterpreneurship project(sample)





Name: THE BREAD BAKERS

Location: Mall Road Lahore

Status: Private Limited Company

Working days: 365

Production capacity: 100-breads/ day

Introduction
The proposed company plans to establish a project for baking the flavored breads in different and unique shapes and sizes. Every bakery offers the bread, which is milky or simple, or diet in only one usual flavor. No bakery offers the flavored breads so far. This company’s main concern is the baking of that bread. This company will helps in enjoying the people the different flavors in different shapes. All the relevant data has been collected from the bakeries and the market. Its baking process is almost identical to the baking process of the simple bread. There’s no problem in getting the required equipment as well as the material as it is all locally available.
The company “Bread Bakers” is the first company concerning with the manufacturing of the flavored bread. It is the company, which don't only deals with the different flavors of bread but also the shapes of the bread.

We are a full service providing bread bakers offering a wide variety of fresh breads, which have unique flavors and shapes. We have that new world style taste and freshness that is all but obsolete in today's society.
Nature of business
This business is on the basis of partnership. Every partner will equally participate in the activities of business. Nature of business of The Bread Bakers is to carry out the breads such as: Flavored breads and multi –shaped bread.

Mission Statement
To provide our customers with bread that actually looks and tastes good.

Vision
The building of a community within the baking industry who voluntarily come together to meet common need and accomplish common goals.

Management Plan
Partnership Deed
In this service organization there are four partners who collaborate with each other. The profit deed is decided in the equal basis.
Departments

• Production Department
• Purchasing Department
• Finance & Accounts Department
• Marketing Department
Manufacturing unit Location
Our manufacturing unit is located in --------------------------------
We have selected this place because the portion of factory is free so, there are no rent charges and we have our own transportation facility so this is very feasible for us.
Raw Material

Following are the main raw material for the proposed project:
• Flour
• Yeast
• Flavors
• Milk
• Eggs etc.
The entire raw material is locally available in abundance. There is no problem in collecting the raw material from the local sources.

Characteristics of the project

The project, which is being initiated in response to the market demand, will produce quality breads according to the customer’s needs. The product will be a new product in the market. Presently there is no such brand, which produces such flavored breads in unique shapes. The existing bakeries are producing the simple breads but this unit will initiate a new trend in the market. These items have a main emphasis on the morning time when the breads are mostly utilized. It is basically for those persons who are taste conscious and look for some thing new for their breakfast. This item will be distributed to all the exiting bakeries where a separate shelve will be placed.

Distribution Channels

Bread is easily available in every bakery. As we are offering different flavors of bread so we have decided that our distribution channels will be all existing bakeries like China Bakery, Meer Bakery, Asim bakery, al-Meraj bakery, etc. We choose these distribution channels because these bakeries already have a large number of customers they daily visit these bakeries & when they will see our product over there they would surely like to have these flavored bread, so the reason of choosing these bakeries is that we are new in the market & we have no customer orientation. That’s why our distribution sources are all these existing bakeries.
Product Profile
Main Products
As all the other existing bakeries are providing the three main types of bread so with the flavored breads our main emphasis will be on the same three breads which includes:
• Milky bread
• Simple bread
• Diet bread
These introduced flavors are available in each bakery.
Bread flavors
Our bread flavors along with our brands include the following flavors

• Chocolate flavored bread by Bread Bakers
• Strawberry flavored bread by Bread Bakers
• Vanilla flavored bread by Bread Bakers
• Mango flavored bread by Bread Bakers
• Pineapple flavored bread by Bread Bakers
• Banana Chip flavored bread by Bread Bakers
• Fruit Nut Breads by Bread Bakers
• Butter Top Bread by Bread Bakers
• Cheese flavored bread by Bread Bakers
• Garlic flavored bread by Bread Bakers
• Ginger flavored bread by Bread Bakers

Bread shapes
Our bread is not only concern with the flavors but also with the shapes of the bread, and there are different shapes which includes :
• Oval
• Round
• Square
• Triangle
• Rectangle
• Long-shaped
• Cone-shaped

Specialty
Most of the people don’t like corners of the bread. The Bread Baker’s is the first who consider this need first and now introducing the corner less bread first time in the area. Our specialty is in corner less bread in different sizes as well as flavors.

Future Integration
In future we, The Bread Baker’s are panning to launch a new product…The Stuffed Bread. It is new and different concept. Stuffed bread is a product in which different material will be stuffed according to the choice of our customers.
Market Analysis
Market Research
Before starting any business it is important to recognize the need of customer that either there is demand of particular product exists or not.
The Bread Bakers conducted the research, which shows that the flavored bread is one of the innovations in bread industry in Gujranwala and people are willing to use it.

Target market
The Bread Baker’s are providing their products in different sizes in very reasonable prices. Our main emphasis is on middle-income group and higher income group.

Age Distribution
The Bread Bakers conducted the research on the basis of age sector to analyze that which age sector will like our bread most.
According to our research:
o Children from age of 10 to 15 years will like it 38%.
o People from the age of 15 to 22 years will like it 25%.
o People from the age of 22 to 35 years will like it 23%.
o People from the age of 35 onwards will like it 14%.

This research shows that younger are more willing to use our product.

Market Distribution
The Bread Baker’s also conducted research on the basis that where they should provide there product in which quantity
The research shows that we should provide our product in Satellite Town market 39% of our production. 30% in Model Town, 12 % in Wapda Town, 10% in People’s Colony and 9% in Cantt area.
Strategies

PRICING STRATEGY

Penetration pricing
As we are in the initial stage so our main emphasis is to penetrate in the market by capturing the market share.
There are many pricing strategies but we have to choose this penetration pricing strategy because we are the new entrants & we want to capture a big market share so we have chosen this type of strategy to penetrate in the market.

PRICES
All the existing bakeries are offering the following prices of the breads

Milky, Simple, Diet
Large Rs. 22
Small Rs.18

But we are providing the following prices of the flavored breads.

o Fruit Nut Breads Rs. 40/-
o Chocolate flavored bread Rs. 30/-
o Strawberry flavored bread Rs. 30/-
o Vanilla flavored bread Rs. 30/-
o Mango flavored bread Rs. 30/-
o Pineapple flavored bread Rs. 30/-
o Cheese flavored bread Rs. 35/-
o Garlic flavored bread Rs. 35/-
o Ginger flavored bread Rs. 30/-
o Butter Top Bread Rs. 30/-
o 100% Whole Wheat Bread Rs. 30/-

Entrance Strategy
The entry growth strategy for The Bread Bakers should be to focus initially and more specially to youth and status-quo customers.

Marketing Strategy
The Bread Bakers needs a comprehensive marketing strategy based on company’s philosophy, potential growth strategy and long-term objectives of gaining a strong hold in the bread industry.

MGT602 Entrepreneurship QUIZ Questiong



Question # 1 of 10 Total Marks: 1
___________ is required if a company wants to be more flexible in adopting changes.
Select correct option:


Management commitment
Contact with customers
Technology
More productivity

Question # 2 of 10 Total Marks: 1
External forces directly affect all of the following EXCEPT:
Select correct option:


Market segmentation strategies
Types of products/services offered
Management structure of organization
Choice of businesses to acquire or sell

Question # 3 of 10 Total Marks: 1
Good entrepreneurs are usually from families which are:
Select correct option:


Landlords
Capitalists
Can be from any family with supportive parents
Conservative parents

Question # 4 of 10 Total Marks: 1
There is an evidence that an entrepreneur usually has _______________ parents.
Select correct option:


Self employed
Discouraged
Non supportive
Strict


Question # 7 of 10 Total Marks: 1
Which one of the following makes formation of new ventures within a corporate structure difficult?
Select correct option:


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:
Select correct option:


Personal affiliations
Mentor
Trade associations
Friends

Question # 9 of 10 ( Total Marks: 1
An individual’s need to be recognized is called:
Select correct option:


Need for independence
Need for affiliation
Need of fame
Need for achievement

Question # 10 of 10 Total Marks: 1
Which of the following is NOT a characteristic of an entrepreneur?
Select correct option:


Need for independence
Need for affiliation
Need for achievement
Risk taking

Offline Quiz 2
Q# 1: International entrepreneur’s decisions are more complex because of:
A. Business expansion
B. Analysis of Huge information is difficult
C. Complex transactions
D. Uncontrollable factors
Q# 2: Which one of the following is NOT the problem in developing the economies
under different developed countries?
A. Gap of knowledge
B. Variable rate of return
C. Different accounting system
D. Same communication style
Q# 3: 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
Q# 4: In stage of responsibility allocation process the entrepreneur follows:
A. Highly decentralized decision making process
B. Somewhat centralized decision making process
C. Highly centralized decision making process
D. No particular standard
Q# 5: Following are the types of foreign direct investment EXCEPT:
A. Joint venture
B. Management contracts
C. Management contracts
D. Merger
Q# 6: An ice cream producing company merges with a cotton spinning company this
merger is an example of:
A. Product extension merger
B. Diversified activity merger
C. Market extension merger
D. Vertical merger
Q# 7: Which one of the following gives suggestions for new product but also helps to
market new product in the market?
A. Existing products and services
B. Distribution channels
C. Federal government
D. Consumers
Q# 8: Which one of the following is important for international business to avoid trade
barriers?
A. Protectionist attitude
B. Entrepreneurial partnering
C. Free trade areas
D. None of the given options
Q# 9: Which one of the following is NOT a source of idea generation?
A. Consumers
B. Brain storming
C. Focus group
D. None of the given options
Q# 10: A patent is granted for a specified amount of time because of the assumption:
A. That during this time firm will cover its development costs
B. That firm will earn a sufficient profit during this period
C. To limit the monopoly of the firm
D. That it will stimulate idea and development of a better product
Q# 11: Which of the following is NOT followed in brainstorming?
A. The wilder idea is better
B. Criticism is done by the group members
C. Quantity of ideas is required
D. The session should be fun, with no on dominating the discussion
Q# 12: Developing a new idea through inquiry and testing is called:
A. Heuristics
B. Scientific method
C. Forced relationship
D. Value analysis
Q# 13: The product life cycle starts with which stage of product planning and
development process?
A. Test marketing stage
B. Product development stage
C. Commercialization stage
D. Product planning and development process is a part of product life cycle
Q# 14: The evaluation criteria for the new product should include all of the following,
EXCEPT:
A. Determination of market demand
B. Pricing and marketing policies of other competing firms
C. Determination of the suppliers
D. Product should be profitable
Q# 15: Which of the following is NOT a requirement of Disclosure Document?
A. Description of the invention
B. Photos of invention
C. Claims for invention’s usefulness
D. Cover letter
Q# 16: Which of the following grants the owner protection from anyone else making,
using and selling the identified innovation?
A. Utility patent
B. Design patent
C. Plant patent
D. International patent
Q# 17: Which of the following can NOT be covered under the copyright protection?
A. Computer software
B. Computer hardware
C. Poems and songs
D. Models and sculpture
Q# 18: Licensing is a significant marketing strategy to:
A. Use intellectual property of others
B. Pirate others’ patents
C. Grow the business in new markets
D. Control the costs
Q# 19: Which one of the following is the main problem for the entrepreneur in the
beginning?
A. Lack of experience
B. Lack of education
C. None of the given options
D. Limited resources
Q# 20: Which of the following is NOT essential part of the contract?
A. All the parties envolved should be named
B. Transaction should be described in detail
C. Obtain signatures of the persons envolved
D. Place where contract takes place




1 d
2 d
3 a
4 a
5 d
6 b
7 b
8 b
9 c
10 b
11 b
12 a
13 d
14 c
15 c
16 a
17 b
18 a
19 d
20 b


OR

1 D 11 B
2 D 12 A
3 A 13 D
4 A 14 C
5 A 15 C
6 B 16 A
7 B 17 B
8 C 18 A
9 C 19 D
10 B 20 B

Q #1: The entrepreneur was distinguished from capital provider in:
A. Middle ages
B. 18th century
C. 17th century
D. 19th and 20th century


Q #2: ___________ Process of creating incremental wealth is called
Entrepreneurship.
A. DynamicB. 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 destructionB. New business model
C. Anatomization
D. None of the given options


Q #5: The intersection of knowledge and a recognized social need to start a
product
development process is called:
A. Iterative synthesis
B. Product-evolution process
C. Ordinary innovation
D. Situation analysis


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 entrepreneurC. 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. EntrepreneurshipB. 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 a
corporate culture?
A. Lack of intrapreneurial talentB. Lack of freedom to make autonomous decisions
C. 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 #14: Which of the following is alternatively called corporate venturing?
A. EntrepreneurshipB. Intrapreneurship
C. Act of stating a new venture
D. Offering new products by an existing company


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 independenceB. 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 #18: Female entrepreneurs differ from male entrepreneurs in terms of all of
the
following EXCEPT:
A. Motivation
B. Business skills
C. Departure pointD. Goal orientation



Q #19: Which of the following areas are preferred by women entrepreneurs?
A. Administration
B. Utilities
C. Manufacturing
D. None of the above


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

1. Any trademarks , copyright or trade secrets held by the entrepreneur is as

• Disclosure document
  
• Patent
  
• Intellectual
  property
  
• None of the mentioned
  

2. The organization will never be able to make the necessary changes without_________

• Top management commitment
  
• Employees
  
• Workers
  
• None of the mentioned
  

3. The ways entrepreneurs make decisions.

• Entrepreneurial domain.
  
• Reverse
  brain storming
  
• Heuristics
  

d.Reverse brain storming


4. A trademark is

A
word, symbol, name or device that a business uses to identify its goods.

• A legal protection for information on foreign
  products.
  
• Legal protection for intellectual works.
  
• Legal protection for a U.S. product exported to
  another country.
  

6. locus of control is


a. A feeling


b. Attitude


c.
Attribute


d. None
of the above





7.
Licensing arrangements have


a. Low
risk process involved


b. Easy
way to generate incremental income


c. Several
pitfalls


d.
All of
the above





8.
Personal characteristics to be a successful entrepreneur
includes


a. Understanding
environment


b. Creating
management options


c. Encourage
open discussion


d.
All of
the above





9.
International entrepreneurship is

• Licensing
  
• Exporting
  
• Both of the mentioned options
  
• 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


d.
Optimism





10. Hindrance for going in the international
business is known as

• Synergy
  
• Turn key point
  
• Trade
  barrier
  
• Minority interest
  

5) In chronological age , most entrepreneurs
start their careers between ages


a)
22
and 55


b) 30
and 55


c) 40
and 65


d) None
of the given options





6) ___________________ is the combination of
at least two firms doing similar businesses at the same market level.


a) Diversified
activity Merger


b)
Horizontal
Merger


c) Joint
Venture


d) Vertical
Merger





7) Which of the
following is NOT recognized as a misconception about entrepreneurship?





a) Entrepreneurship is found only is small businesses.


b) Entrepreneurship is easy.


c) Successful entrepreneurship needs only a great idea.


d)
Entrepreneurial ventures and small businesses are different





9) All of the
following are recognized as potential sources of entrepreneurial ideas EXCEPT:



a) Work experiences, skills, and abilities


b) Familiar and unfamiliar products and services


c) Personal interests or hobbies


d)
All of the selections are recognized as potential sources of entrepreneurial
ideas.





10) An
_______________________ is an individual who creates something for the first
time, is a highly driven individual motivated by his or her own work and
personal ideas.


a) Entrepreneur


b)
Inventor


c) Both a and b


d) None of the given options

1. An entrepreneur’s primary motivation for starting a
business is

• To
  make money
  
• To be independent
  
• To be
  famous
  
• To be
  powerful
  

2. To be successful in an entrepreneurial venture, you need

• Money
  
• Luck
  
• Hard
  work
  
• A good
  idea
  

3. Entrepreneurs are best as

• Managers
  
• Venture
  capitalists
  
• Planners
  
• Doers
  

4. A successful entrepreneur relies on which of the
following for critical management advice

• Internal
  management team
  
• External management
  professionals
  
• Financial sources
  
• No one
  

5. Entrepreneurs are:

• High
  risk takers
  
• Moderate risk takers
  
• Small
  risk takers
  
• Doesn’t
  matter
  

6. Entrepreneurs typically form

• Service
  businesses
  
• Manufacturing
  companies
  
• Constructive
  companies
  
• A variety of ventures
  

7. Entrepreneurs:

• Are
  the life of the party
  
• Are
  bores at a cocktail party
  
• Will
  never go to parties
  
• Just fit into the crowd at a
  party
  

8. Entrepreneurs and ventures capitalists:

• Get
  along well
  
• Are
  the best friends
  
• Are
  cordial friends
  
• Are in conflict
  

9. An entrepreneur’s primary motivation for high ego and
need for achievement is based upon a relationship with:

• Spouse
  
• Mother
  
• Father
  
• Children
  

10. An individual usually begins his or her first significant
entrepreneurial business enterprise at what age

• Teens
  
• Twenties
  
• Forties
  
• Fifties
  

1. One
effective way to begin the marketing plan is


a. To make a list of the
information that will be needed to prepare the marketing plan.

• Gathering Data from Secondary Sources
  

c. Gathering Information from Primary Sources.

• None of the options given
  

2. A
focus group


a. Is a sample of 10 or 12
potential investors who participate in a discussion?


b.Is
a sample of 10 or 12 potential employees who participate in a discussion?


c.
Is a sample of
10 or 12 potential customers who participate in a discussion?

• None of the options given
  

3. The
situation analysis is


a. Defining Target Market/Opportunities
and Threats.

• Considering Strengths and Weaknesses
  

c.
A review of where the com­pany has been
and considers envi­ronmental factors.

• None of the options given
  

4. One
of the difficult decisions


a. Is about the
distribution of the product


b.Is determining the appropriate price for the product.


c. Is about the promotion
of the product

• None of the options given
  

5. Which
of the following statement is true for marketing system?

• It is all about the internal envoi mental factors
  
• It identifies the major
  interacting components, both internal and external
  
• It’s about the financial needs of the venture
  
• None of the options given
  

6. In
setting marketing goals and objectives the entrepreneur must

• Set the price
  
• Distribution place
  
• Must satisfy customers
  
• None of the
  above
  

7. The
financial plan provides a complete picture of:


a. How
much and when the funds are coming into the organization.


b. Where
the funds are going.


c. How
much cash is available?


d.
Al of the
options given


8. Before
developing the pro forma income statement, the entrepreneur should


a. Prepare operating
budgets


b. Capital budgets.


c. None of the
options given


d.
Both of the
options given (a,b)





9.
Which of the
following statement is true?

• Cash flow is same as profit.
  

b.
Profit is the
result of subtracting expenses from sales.


c. Cash flow results
from the difference between all cash available and cash pay­ments.

• Cash flows only when actual payments are not made but
  only received.
  

10. Which of the
statement is not true?





a. The S Corporation
combines the tax advantages of the partnership and the corporation.


b.S
Corporations represent almost half of all corporate fil­ings.


c. A popular new entity is
thelimited
liability company (LLC)

• Limited liability
  Company(LLC)
  offers similar disadvantages as the S Corpora­tion
  

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


None
of the mentioned options





5. Female
entrepreneurs differ in terms of --------------------, -----------------------,
and ---------------------------





Motivation


Business skills


Occupational background





In brainstorming





No criticism is allowed


Quantity of ideas is desired


None of the mentioned options


Both of the mentioned options





2. A
technique that asks questions about objects or ideas in an effort to develop a
new idea is





Heuristics


Matrix charting


Forced relationships


Attribute
listing





3. The
solution development is





Big-Dream
approach


Parameter
Analysis


Creative synthesis


None of the
above





4. Perceived benefits /risks involve the
following factors:





Utility to customer


Consumption
habits


Buying motives


All of the above





5. A
patent is





A document between government and an
inventor


Grants
holder protection from others making, using, or selling similar idea


A public domain


None of the above


Marketing mix includes:





Product
or service


Financing


Consumer


Retailer








2. Which of the following statement is true
for tax advantage of proprietorship?





There is
double tax on profits


There is no capital stock tax or penalty
for re­tained earnings


Both of the
options given


None of the
options given








3. Industry analysis should include
information on:





Market size of competitor’s product


Growth rate of suppliers


New products entry


Economic conditions








4. We
need to update the business plan because…………





Environmental factors and internal factors can change the direction of
the plan


Goals set by the
entrepreneurs may be unreasonable.


Goals may not be
measurable.


Goals may not be
specific








5. Marketing
research involves the gathering of data in order to determine information as:





Who will buy the product?


What price
should be charged?


What is the
most effective promotion strategy?


All of the mentioned options

1. The importance of intellectual property should be
understood by entrepreneur even


before _________.


a. Hiring a manager


b.
Engaging an attorney


c. Developing a product


d. Establishing new venture





2. Which of the following is not followed in
brainstorming?


a. Criticism
is done by the group members


b. The wilder idea is batter


c. Quantity of ideas is required


d. The session should be fun, with no on dominating
the discussion





3. 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:


a. Economic development


b.
Barter system


c. Balance of payment


d. International trade





4. A patent is granted for a specified amount of
time because of the assumption:


a. During this time firm will cover its development
costs


b. Firm will earn a sufficient profit during this
period


c. To limit the monopoly of the firm


d.
It will stimulate idea and development of a batter product





5. Developing a new idea through inquiry and testing
is called _________.


a. Heuristics


b.
Scientific method


c. Forced relationship


d. Value analysis





6. In an international perspective, which of the
following decisions are not covered


under strategic planning of an entrepreneur?


a.
What are unique characteristics of each market?


b. Who should be involved in marketing decisions?


c. What customer benefits are provided by the
product


d. What are the company’s major strengths and
weaknesses?





7. Which of the following grants the owner
protection from anyone else making, using


and selling the identified innovation?


a.
Utility patent


b. Design patent


c. Plant patent


d. International patent





8. The problem inventory analysis should b used
primarily to:


a. Reflect a new business opportunity


b.
Identify product idea for further evaluation


c. Solve unknown problems


d. Develop a list of problems





9. Selling goods to another country through a person
in the entrepreneur’s home


country is known as _________.


a. Export


b. Direct export


c.
Indirect export


d. Domestic sales





10. Which of the following statements is not true
about trademarks?


a. A trademark could be a slogan or a particular
sound


b. Some trademarks have no relationship with the
product


c. The filing date for the trademark becomes the
first date use of the mark


d. The entrepreneur
can not file after the mark already been in use








11. The product life cycle is included in which
stage of product planning and


development process?


a. Test marketing stage


b. Product development stage


c.
Commercialization stage


d. Product planning and development process is a
part of product life cycle





12. Which of the following can not be covered under
the copyright protection?


a. Computer software


b. Computer
hardware


c. Poems and songs


d. Models and sculpture





13. Idea of new product is tested in potential
consumers to determine consumer


acceptance at _________ stage.


a. Concept


b. Product development


c. Test marketing


d. Commercialization





14. According to the governing bodies of common
laws, the life of trade secret is:


a. 12 years


b. 17 years


c. 20 years


d. As long as
it remains confidential





15. Which of the following is used by entrepreneurs
to acquire experience in an


international market before making a major
commitment?


a. Merger


b. Joint venture


c. Minority
interest


d. Majority interest





16. The evaluation criteria for the new product
should include all of the following


except:


a. Determination of market demand


b.
Determination of the suppliers


c. Pricing and marketing policies of other competing
firms


d. Product should be profitable





17. Licensing is a significant marketing strategy
to:


a. Use intellectual property of others


b. Pirate others’ patents


c. Grow the
business in new markets


d. Control the costs


18. Automated stock replenishment, electronic
selling and processing of customers


orders and payments are examples of:


a. E-business


b. E-commerce


c. E-trading


d. E-transaction





19. The longest lasting trade agreement with the
objective of liberalizing trade by


eliminating or reducing tariffs, subsidies and
quotas is _________.


a. Free trade area – FTA


b. European community – EC


c. General
agreement on tariffs and trade – GATT


d. The north American free trade agreement – NAFTA





20. The most important characteristic of a
successful business website is


a.
Speed


b. Innovation


c. Graphics


d. Products

1. The _______ plan shows
whether the business is economically feasible or not.


a. Financial


b. Business


c. Economic


d. Marketing





2. In which of the following,
the ownership of venture is reflected by ownership of


shares of stock?


a. Partnership


b. Limited partnership


c. Corporation


d. Proprietorship





3. Bankers say that most
businesses fail because of the _____ inability to plan


properly.


a. Investor’s


b. Marketer’s


c. Entrepreneur’s


d. Consultant’s





4. The _________ of a venture
could be that the company has experience in related


business.


a. Strength


b. Weakness


c. Opportunity


d. Threat








5. The marketing plan should
focus on strategies and for the first year, goals and


strategies should be projected
__________.


a. Daily


b. Weekly


c. Monthly


d. Quarterly





6. Which of the following is
not a characteristic of marketing plan?


a. It should provide a strategy
to accomplish the company mission


b. It should provide for the
use of existing resources


c. It should be simple and
short


d. It should be rigid





7. Secondary data can be
obtained from all of the following sources, except:


a. Internet


b. Magazine


c. Bureau of statistics


d. Focus group





8. Which of the following is
one of the simplest form and lowest in entry costs.


a. Direct mail marketing


b. Online marketing


c. Sales promotion


d. Export marketing





9. In ________, the death of
entrepreneur results in the termination of venture.


a. Proprietorship


b. Limited company


c. Limited partnership


d. Corporation





10. In partnership, the ability
to raise capital depends on the __________ of the


business.


a. Expansion


b. Success


c. Size


d. Nature

1. Which of the following are NOT the Accredited
Investors?


a. Institutional investors


b. Investors who purchase less than $150,000 of the
issuer’s securities


c. Investors whose net worth is $1 million


d. Directors, officers, and general partners of the
issuing company





2. Advertising and publicity are used to:


a. Create awareness of the new venture


b. Communicate with customers


c. Promote the products


d. All of the given options ???





3. What is the practical maximum limit to the amount
of loan money guaranteed by


Small Business Administration?


a. $ ten thousand


b. $ hundred thousand


c. $ one million


d. There is no limit





4. All of the following should be followed by entrepreneur
for being effective


leader, EXCEPT:


a. Show respect for employees


b. Show concern for employees’ welfare


c. Try to do everything himself


d. Encourage and praise others





5. An entrepreneur may finance fixed assets by:


a. Inventory loans


b. Installment loans


c. Short-term debt


d. Long-term debt





6. The entrepreneur will find it easier to maintain
control over cash, disbursements


and inventory through:


a. Record keeping


b. Hiring new employees


c. Having more partners


d. Financial controls





7. Recruiting and hiring of new employees may occur
at which level?


a. Entry level


b. Middle management level


c. Senior management level


d. At all three levels





8. Which of the following is the oldest development
financing institution?


a. Small Business Finance Corporation


b. Khushhali Bank


c. Regional Development Finance Corporation


d. Industrial Development Bank of Pakistan





9. Under Rule 504 of Regulation D, a company can
sell up to ______ of securities in


any 12-month period.


a. $50,000


b. $100,000


c. $500,000

d. $1,000,000