Entrepreneurship Development Set 13 MCQs

Q1 | . describes the direction, the enterprise is going in, what its goals are, where it wants to be,and how it is

project report

technical anlaysis

market analysis

financial analysis

Q2 | A business arrangement where one party allows another party to use a business Name and sell its products or services is known

A cooperative.

A franchise

An owner-manager business

A limited company

Q3 | Innovation can best be defined as_______.

the generation of new ideas.

the evolution of new ideas.

the opposite of creativity.

the successful exploitation of new ideas.

Q4 | Which of these statements best describes the context for entrepreneurship?

Entrepreneurship takes place in small businesses.

Entrepreneurship takes place in large businesses.

Entrepreneurship takes place in a wide variety of contexts.

Entrepreneurship does not take place in social enterprises.

Q5 | Entrepreneurship can best be described as _________.

a process that requires setting up a business.

taking a significant risk in a business context.

having a strong vision.

a process involving innovation, new products or services, and value creation.

Q6 | Entrepreneurial development is the key to achieve all-round ---------------- through acceleration of industrial and entrepreneurial activities.

economic development

increase in profits

shareholders value

business development

Q7 | According to sociological approach, entrepreneurship

Process of sensitivity

Process of role performance

Process of economic change

All of these

Q8 | Which of the following attitudes Is not generally associated with successfulentrepreneurship :

Competition and co-operation

Desire to influence others

Innovation and product improvement

Status quo in business

Q9 | The function of entrepreneur are:

To imagine a business idea

To study project feasibility

To setup enterprise

All the above

Q10 | Which of the following sentence is not a characteristic of entrepreneurship:

Risk taking

Innovation

Creative activity

Managerial training

Q11 | An entrepreneur is:

Born

Made

Bom and made both

All of these

Q12 | Which of the following sentence is inconsistent in the context of entrepreneur:

He is owner of the business

He is risk taker

He operates production activities

He searches out business opportunities

Q13 | Maslow’s Hierarchy of needs theory is governed by the fact that:

People are universally motivated by needs

People are socially motivated by needs

People are politically motivated by needs

None of the above

Q14 | In under developed countries, local mobile phone companies use the same technology used by big companies to manufacture their products. Which of the following type of Entrepreneurs is highlighted above:

Trading Entrepreneurs

Imitative Entrepreneurs

First generation Entrepreneurs

Innovative Entrepreneurs

Q15 | All but which of the following is considered to be a myth associated with entrepreneurship?

Successful entrepreneurs are born not made

First ventures are always successful

All entrepreneurs must willingly invest significant sums of money

Successful entrepreneurs must have a break-through invention

Q16 | Entrepreneurial culture and growth orientation consists of all of the following except:

Encouraging employees to generate ideas

Focusing on opportunities.

The desire to grow at a slow and controlled pace.

Being creative.

Q17 | Intrapreneurship often takes the form of

A semi-autonomous group (e.g. an internal venture team), operating within the overarching structure of the parent organization.

A spinout venture from a university to commercial a new invention.

A subsidiary of a large corporation developing a new product.

A semi-autonomous group operating outside the overarching structure of the parent organization.

Q18 | A ______________ is a professional money manager who makes risk investment from apool of equity capital to obtain a high rate of return on investments.

venture capitalist

entrepreneur

businessman

buyer

Q19 | A business plan is important for all of the following reasons EXCEPT:

a business plan forces a firm's founders to systematically think through each aspect of their new venture.

a business plan provides lenders and investors assurance that they will earn a decent return.

a business plan provides an investor with something to react to.

a business plan is a selling document that enables a company to present itself to potential suppliers and business partners.

Q20 | A new venture's business plan is important because ______.

It helps to persuade others to commit funding to the venture.

Can help demonstrate the viability of the venture.

Provides a guide for business activities by defining objectives.

All the above.

Q21 | To provide financial assistance to entrepreneurs the government has set up a number of___________.

financial advisors.

financial intermediaries.

Industrial estates.

financial institutions.

Q22 | _____________ can be defined as a specifically evolved work plan densed to achieve a Specific objective within a specific period of time

Idea generation.

Opportunity Scanning.

Project.

Strategy

Q23 | _____________ is used to accomplish the project economically in the minimum availabletime with limited resources

Project Scheduling.

Network Analysis.

Budget Analysis.

Critical Planning

Q24 | ______________ is a form of financing especially for funding high technology, high riskand Perceived high reward projects

Fixed capital.

Current capital.

Seed capital.

Venture capital.

Q25 | _____ is a favorable set of circumstances that creates a need for a new product, service, orbusiness.

A niche

A venture

A trend

An opportunity