mgt602 entrepreneurship final term mcq & papers 100% solved _ vu seekerz

4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/XXXXXXXXXWhich 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 structuringWhat 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 entrepreneurs 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 entrepreneurs 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 tradeHealth insurance premium is less expensive if there is: One insured participants Ten participants Large group of participants Very small group of participantsIn which of the following year implementation of SBA Financial plan took place? 1971 19721973 1974The resources acquired from others(creditors, banks etc) are usually: Easily available Difficult to obtain Very useful Very cheapLenders are primarily interested in the: Personal relationship Ability to pay back loan Progress of the ventureThe entrepreneur utilizes the resources through: Identifying and evaluating the opportunity Developing a business plan Implementing the business plan Manage the enterpriseFocus group discussion carries in Formal Way Informal Way Both of the above Problemat wayWhich one of the following best represents the environment of an entrepreneurial oriented organization? Corporate culture Entrepreneurial culture Intrapreneurial culture Traditional cultureQuestion No: 1 ( Marks: 1 ) Please choose one The level at which an individual is viewed by society is called: Financial status Qualification Social status AchievementQuestion 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 networksQuestion 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 systemQuestion 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 LicensingQuestion No: 5 ( Marks: 1 ) Please choose one Which of the following method entrepreneur can use to do international business withleast risk? Turnkey projects Joint venture Merger SynergyQuestion 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 mergerQuestion 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 productQuestion 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 WebQuestion No: 9 ( Marks: 1 ) Please choose oneWhich one of the following is the next stage to the Concept Stage of Product Planning and Development Process? Idea Stage4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/1/76 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/8/76 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/9/76 Product Planning Stage Product Development Stage Test Marketing StageQuestion 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 secretQuestion 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 patentQuestion 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 markQuestion 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 confidentialQuestion 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 optionsQuestion 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 BondingQuestion No: 17 ( Marks: 1 ) Please choose one A legally binding agreement between two parties is called:A contract Licensing Insurance A copyrightQuestion No: 18 ( Marks: 1 ) Please choose one Information regarding all of the following is related to operations, EXCEPT: Location Promotion Raw materials Labor skillsQuestion No: 19 ( Marks: 1 ) Please choose one Which of the following is NOT studied in industry analysis? Economic conditions Technology advancements Organizational culture Legal concernsQuestion 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 optionsQuestion No: 21 ( Marks: 1 ) Please choose one Which one of the following is NOT included in four Cs evaluation by lender? Character CostContinuityContributionQuestion No: 22 ( Marks: 1 ) Please choose one Which of the following is a characteristic of a good partner? Help to achieve goals Share entrepreneurs vision Do not exploit the partnership All of the given optionsQuestion 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 exportingDirect exporting Importing Management contractQuestion No: 26 ( Marks: 1 ) Please choose one Following are the types of non-equity arrangements EXCEPT: Licensing Management contracts Direct export Turnkey projectsQuestion 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 centuryQuestion 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 centuryQuestion 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 EnvironmentCultural EnvironmentTechnological Environment4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/10/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/16/76 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/15/76 Question No: 30 ( Marks: 1 ) Please choose oneWhich 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 entrepreneurs 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 optionsQuestion No: 40 ( Marks: 1 ) Please choose one Which of the following is NOT an important aspect of international success? Planning Diversification Reporting ControlQuestion 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 EXAMINATIONSpring 2009MGT602- Entrepreneurship (Session 4)Time: 60 minMarks: 50Question No: 1 ( Marks: 1 ) Please choose oneWhich 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 takingWhich one of the following is a business arrangement in which someone else is allowed to use something of the company? PatentTrade markCopy right4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/17/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/20/76http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/19/83 LicensingQuestion No: 4 ( Marks: 1 ) Please choose oneWhich of the following method entrepreneur can use to do international business with least risk? Turnkey projects Joint venture Merger SynergyQuestion No: 5 ( Marks: 1 ) Please choose oneA company dealing in beer has a merger with cigarettes manufacturing firm. This mergeris called: Horizontal merger Product extension merger Market extension merger Vertical mergerQuestion No: 6 ( Marks: 1 ) Please choose oneWhich 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 ConsumersQuestion No: 7 ( Marks: 1 ) Please choose oneMembers 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 forceQuestion No: 8 ( Marks: 1 ) Please choose oneWhich one of the following is the most important characteristic of a successful business websit? Speed Innovation Graphics ProductsAccording to the governing bodies of common laws, the life of trade secret is: 12 years 17 years 20 years As long as it remains confidentialQuestion No: 11 ( Marks: 1 ) Please choose oneSBA stands for: Small business accountants Small business administration Small business adequacy Small business advisorsQuestion No: 12 ( Marks: 1 ) Please choose oneWhy should an entrepreneur do a feasibility study for starting a new venture?To see if there are possible barriers to successTo identify possible sources of funds To estimate the expected sales To explore potential customersQuestion No: 13 ( Marks: 1 ) Please choose oneInformation regarding all of the following is related to operations, EXCEPT: Location Promotion Raw materials Labor skillsQuestion No: 14 ( Marks: 1 ) Please choose oneWhich one of the following guide the firm through the long term decision making? Mission statement Product forecast Industry analysis None of the given optionsQuestion No: 15 ( Marks: 1 ) Please choose oneWhich of the following is included in the description of the business? Location Products offered History All of the given optionsQuestion No: 16 ( Marks: 1 ) Please choose oneFor which of the following copy right acquisition is desirable?SongsPoemsModels4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/21/76 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/24/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/23/83 All of the given optionsQuestion No: 17 ( Marks: 1 ) Please choose oneWhich 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 ideaQuestion No: 18 ( Marks: 1 ) Please choose oneWhich of the following is idea generation method that focuses on parameters? Brainstorming Reverse brainstorming Creative problem solving SynopticQuestion No: 19 ( Marks: 1 ) Please choose oneThe transitional disturbance and lack of reform has led to a booming black market in: China Hungary Singapore PolandQuestion No: 20 ( Marks: 1 ) Please choose oneWhich of the following geographical area is of least interest to U.S entrepreneurs? EuropeThe Far EastCentral AsiaTransition economiesQuestion No: 21 ( Marks: 1 ) Please choose oneWhich one of the following gives suggestions for new product and also help to market new products? Existing products and services Distribution channels Federal government ConsumersQuestion No: 22 ( Marks: 1 ) Please choose oneWhich 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 interestQuestion No: 23 ( Marks: 1 ) Please choose oneGATT is established in 1947, under: German leadership French leadership U.S. leadership U.K. leadershipQuestion No: 24 ( Marks: 1 ) Please choose oneThe entrepreneur was distinguished from capital provider in:Middle ages18th century17th century 19th and 20th centuryQuestion No: 25 ( Marks: 1 ) Please choose oneA person who managed large project was termed as the entrepreneur in the _________. Earliest period Middle ages 17th century 19th and 20th centuryQuestion No: 26 ( Marks: 1 ) Please choose oneWhich of the following factor is most important in forming a new business? Finance Marketing Government support Family supportQuestion No: 27 ( Marks: 1 ) Please choose oneWhat is the process by which individuals pursue opportunities without regard to resources they currently control? Startup management Entrepreneurship Financial analysis Feasibility planningQuestion No: 29 ( Marks: 1 ) Please choose oneWhich of the following shows the process of creating something new?Business modelModelingInnovation Creative flexibilityIn the administrative domain, the commitment of resources is for which of the following? Periodic intervals Total amount needed For certain tasks For long timeQuestion No: 32 ( Marks: 1 ) Please choose oneWhich 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 oneWhich is the most common cause of business failure? Insufficient capital Unstable market Insufficient experience Poor entrepreneurship Question No: 34 ( Marks: 1 ) Please choose oneWhich of the following areas are preferred by women entrepreneurs?AdministrationUtilitiesManufacturing4/26/2014MGT602 Entrepreneurship Final Term MCQ & Papers 100% Solved | VU Seekerz



http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/33/73 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/30/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/29/83 None of the aboveQuestion No: 35 ( Marks: 1 ) Please choose oneDegree of influence and control on other people is called: Locus of control Locomotion of control Locust of control Loss of controlQuestion No: 36 ( Marks: 1 ) Please choose oneIndividuals influencing an entrepreneurs career choice and style are known as which of the following? Role model Moral-support network Professional support network Support systemQuestion No: 37 ( Marks: 1 ) Please choose oneThe activity which occurs when the new venture is started is called: Motivation Business skills Departure point Goal orientation 1. An entrepreneurs primary motivation for starting a business isa. To make moneyb. To be independentc. To be famousd. To be powerful 2. To be successful in an entrepreneurial venture, you needa. Moneyb. Luckc. Hard workd. A good idea 3. Entrepreneurs are best asa. Managersb. Venture capitalistsc. Plannersd. Doers 4. A successful entrepreneur relies on which of the following for critical management advice a. Internal management teamb. External management professionalsc. Financial sourcesd. No one 5. Entrepreneurs are:a. High risk takersb. Moderate risk takersc. Small risk takersd. Doesnt matter 6. Entrepreneurs typically forma. Service businessesb. Manufacturing companiesc. Constructive companiesd. A variety of ventures 7. Entrepreneurs:a. Are the life of the partyb. Are bores at a cocktail partyc. Will never go to partiesd. Just fit into the crowd at a party 8. Entrepreneurs and ventures capitalists:a. Get along wellb. Are the best friendsc. Are cordial friends d. Are in conflict 9. An entrepreneurs primary motivation for high ego and need for achievement is based upon a relationship with:a. Spouseb. Motherc. Fatherd. Children 10. An individual usually begins his or her first significant entrepreneurial business enterprise at what agea. Teensb. Twentiesc. Fortiesd. Fifties 1. Personal characteristics to be a successful entrepreneur includese. Understanding environmentf. Creating management optionsg. Encourage open discussionh. All of the above2. Without top management commitment, the organization wille. Be able to make changesf. Not be able to make any changesg. Not be able to make effective changesh. None of the above3. Entrepreneurial experience becomes increasingly important ase. Work load increasesf. Complexity of venture increasesg. Complexity of wok increasesh. None of the above4. Entrepreneurs are concerned about basic issues of:e. Sales, costs and benefitsf. Customers, sales and costsg. Risk, costs and benefitsh. None of the above5. Licensing arrangements havee. Low risk process involvedf. Easy way to generate incremental incomeg. Several pitfallsh. All of the above6. Joint ventures have been used by entrepreneur:e. When the entrepreneur wants to purchase local knowledgef. When rapid entry in to the market is neededg. Both of the options givenh. None of the above 7. A horizontal merger ise. Is the combination of firms in successive stages of productionf. Is the combination of firms that produce closely related projects in same areag. Is the combination of firms that produce same products and sell in different areash. None of the above8. Main reason(s) for merger is (are)e. When synergy is presentf. When complementary resources can be combinedg. Economies of scale can be achievedh. All of the above9. First stage of production planning and development processes is e. Idea stagef. Concept stageg. Establishing and evaluating criteria stageh. None of the above 1. NAFTA stands for:a) North American Free Trade Agreementsb) North Asian Free Trade Agreementsc) National Asian Free Trade Agreementsd) National American Free Trade Agreements2. The factor______________ is probably the most prevalent reason for mergers. a) Taxationb) Economies of scalec) Inflationd) Mergers3. A _____________ merger is a combination of two firms producing the same products but selling them in different geographic markets.a) Diversified Activity Mergerb) Product Extension Mergerc) Vertical Mergerd) Market Extension Merger4. One of the most frequent reasons an entrepreneur forms a joint venture is to share the ________________.a) Resources b) Cos t c) Cost and risk of a project d) Profit5. _______________ involves having a foreign purchaser in the local market or using an export management firm.a) Direct Exportingb) Indirect Exportingc) Management Contractsd) Turn-Key Projects6. The ______________measures the payments that flow between any individual country and all other countries.a) International Businessb) Economies of Scalesc) Balance of Paymentd) None of the given options7. ________________ is an entrepreneurial type who quickly identifies new promising business opportunities but rarely, if ever, follows through on the opportunity to create a successful new venture.a) Simplicity Sueb) Shotgun Samc) Hidden Agenda Harryd) Inventor Irving8. One study found that the typical minority business owner was thea) Oldest child in a blue-collar family and married.b) Oldest child in a white-collar family and married.c) Youngest child in a blue-collar family and married.d) Youngest child in a white-collar family and married.9. Traditional managers are:a) Deals with mistakes and failuresb) Tries to avoid mistakes and surprisesc) Attempts to hide risky projects from view until readyd) None of the given Options11. Risk decisions are often postponed untila) Hard facts can be gathered or a consultant hired to illuminate theunknown.b) Hard facts can be gathered or an auditor hired to illuminate theunknown.c) There is no need to gather facts and hired a consultant/auditord) None of the given options12. _________________ is one method of stimulating, and then capitalizing on, individuals in an organization who think that something can be done differently and better.a) Strategic Orientation b) Capitalizationc) Intrapreneurship d) Management13. The typical _________________ has a climate and reward system that favor conservative decision making.a) Entrepreneurship cultureb) Corporate culturec) Intrapreneurial cultured) None of the given options14. Female entrepreneurs normally start their venture at the age of_____________ years.a) 35-45 b) 25-30 c) 20-25 d) 40-4515. Male entrepreneurs normally start their venture at the age of____________ years.a) 20-25 b) 25-35 c) 40-50 d) After the age of retirement. 16. The ________________ is the process through which innovation develops and commercializes through entrepreneurial activity, which in turn stimulates economic growth. a) Product-evolution processb) Technological innovationsc) Breakthrough innovationsd) None of the given options17. A____________________ is a type of company formed from research and development that usually does not go public.a) Foundationb) Life-Style Firm c) High-Potential Venture d) Both b and c18. _________________ involve such things as writing, listening, oral presentations, coaching and technical know-how.a) Business Management skillsb) Personal entrepreneurial skillsc) Technical skillsd) None of the given options19. The ___________________ means to do things in his or her own way and time.a) Need per independenceb) Need for achievementc) Personal valuesd) Ethics20. ________________ is a reason or set of reasons for engaging in a particular behavior, especially human behavior.a) Moral valueb) Actc) Motivation1. Any patents, trademarks , copyright or trade secrets held by the entrepreneur is known asa. Disclosure documentb. Patentc. Intellectual propertyd. None of the mentioned2. The organization will never be able to make the necessary changes without_________a. Top management commitmentb. Employeesc. Workersd. None of the mentioned3. The ways entrepreneurs make decisions.a. Entrepreneurial domain.b. Reverse brain stormingc. Heuristicsd. Reverse brain storming4. A trademark is5. A word, symbol, name or device that a business uses to identify its goods.a. A legal protection for information on foreign products.b. Legal protection for intellectual works.c. Legal protection for a U.S. product exported to another country. 6. locus of control ise. A feelingf. Attitudeg. Attributeh. None of the above7. Licensing arrangements havei. Low risk process involvedj. Easy way to generate incremental incomek. Several pitfallsl. All of the above8. Personal characteristics to be a successful entrepreneur includesi. Understanding environmentj. Creating management optionsk. Encourage open discussionl. All of the above9. International entrepreneurship isa. Licensingb. Exportingc. Both of the mentioned optionsd. None of the two mentionedWhich of the following is not a characteristic that is helpful for an entrepreneur to have?a. Self-esteemb. Cautionc. Drive10. Hindrance for going in the international business is known asa. Synergyb. Turn key pointc. Trade barrierd. Minority interest1. An entrepreneurs primary motivation for starting a business ism. To make moneyn. To be independento. To be famousp. To be powerful2. To be successful in an entrepreneurial venture, you needi. Moneyj. Luckk. Hard workl. A good idea4. A successful entrepreneur relies on which of the following for criticalmanagement advicei. Internal management teamj. External management professionalsk. Financial sourcesl. No one6. Entrepreneurs typically formm. Service businessesn. Manufacturing companieso. Constructive companiesp. A variety of ventures7. Entrepreneurs:i. Are the life of the partyj. Are bores at a cocktail partyk. Will never go to partiesl. Just fit into the crowd at a party8. Entrepreneurs and ventures capitalists:i. Get along wellj. Are the best friendsk. Are cordial friendsl. Are in conflict9. An entrepreneurs primary motivation for high ego and need for achievement is based upon a relationship with:i. Spousej. Motherk. Fatherl. Children10. An individual usually begins his or her first significant entrepreneurial business enterprise at whatagei. Teensj. Twentiesk. Fortiesl. Fifties10. Personal characteristics to be a successful entrepreneur includesq. Understanding environmentr. Creating management optionss. Encourage open discussiont. All of the above11. Entrepreneurial experience becomes increasingly important asm. Work load increasesn. Complexity of venture increaseso. Complexity of wok increasesp. None of the above12. Entrepreneurs are concerned about basic issues of:i. Sales, costs and benefitsj. Customers, sales and costsk. Risk, costs and benefitsl. None of the above13. Licensing arrangements haveq. Low risk process involvedr. Easy way to generate incremental incomes. Several pitfallst. All of the above14. Joint ventures have been used by entrepreneur:m. When the entrepreneur wants to purchase local knowledgen. When rapid entry in to the market is neededo. Both of the options givenp. None of the above15. A horizontal merger ism. Is the combination of firms in successive stages of productionn. Is the combination of firms that produce closely related projects in same areao. Is the combination of firms that produce same products and sell in different areasp. None of the above16. Main reason(s) for merger is (are)m. When synergy is presentn. When complementary resources can be combinedo. Economies of scale can be achievedp. All of the above17. First stage of production planning and development processes ism. Idea stagen. Concept stageo. Establishing and evaluating criteria stagep. None of the above1. What causes people to do something?Need for achievementNeed for independenceMotivationNone of the mentioned options2. Individuals who help the entrepreneur in business activitiesRole modelsProfessional-support networkParentsNone of the mentioned options3. The managers in an organization strongly supporting intrapreneurship is called Top management commitmentUpper management commitment Lower management intrapreneurUpper management intrapreneur4. - involves a manufacturer giving a foreign manufacturer the right to use a patent, trademark or technology in return for a royaltyLicensingTurn-key projectsManagement contracts1. A set of reasons for engaging in a particular behavior, especially human behavior is known as _____________.a. Valuesb. Visionc. Entrepreneurshipd. Motivation2. Which of the following techniques is an excellent method for initially screening ideas and concepts in addition to generating new ideas?a. Focus groupb. Brain stormingc. Problem inventory analysisd. Reverse brainstorming3. The creative process for problem solving that involves making the strange familiar in first step and then making the familiar strange through personal, direct or symbolic analogy is called _________.a. Synopticb. Gordon methodc. Checklist methodd. Scientific method4. When the multiplicity of environments become too complex to handle, the international entrepreneurs often __________.a. Go for mergersb. Diversifyc. Decentralize operationsd. Sale out the foreign business5. An entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information?a. Supplierb. Retailerc. Competitiond. Government bureau7. Entrepreneurial success has been significant because of the culture and the political and economic systems in _________.a. European countriesb. Asian countriesc. Transition economiesd. Middle east9. The under-developed or lesser developed countries need manufacturing technology and infrastructure and yet do not want to turn over substantial portion of their economy to foreign ownership. Which of the following is a solution to this dilemma?a. Management contractb. Indirect exportingc. Licensingd. Turn-key project10. The development of a new venture based on an inventors work often requires________.a. Expertise of an entrepreneurb. Heavy investment from financersc. Skilled human resourcesd. Highly educated staffSolution No. 1Gazelles are the firms with:High growth rateModerate growth rateZero% growth rateLow growth rateThe resources acquired from others(creditors, banks etc) are usually:Easily availableDifficult to obtainVery usefulVery cheapWhich of the following firm achieves modest growth:High potential growth firmFoundation firm Life stylePublic companyWhich of the following statements about the intrepreneurial climate is (are) true?Trial and error are discouraged.Resources of the firm need to be available and easily accessibleA multidisciplinary approach is discouraged.Failures are not allowedThe difference in the entrepreneurial and managerial domains has contributed towards an increase interest in:Forming new firmsPartnershipIntrapreneurshipPrivate firmsThe commitment of administrative domain to the resources is for:Periodic intervalsTotal amount neededFor certain tasksFor long timeWhich one of the following is NOT an intrapreneurial leadership characteristic?Understands environmentEncourage the team workNot flexiblePersistentFactors contribute to the creation of new venture EXCEPT:GovernmentFinanceHigh interest ratesRole modelsThe activities which occur when the new venture is started are called:MotivationGoal orientationDeparture pointBusiness skillsThe entrepreneur must possess the abilities:CreativeConceptualizationUnderstanding environmentAll of the given optionsIn terms of chronological age, most entrepreneurs initiate their entrepreneurial carrier between ages of:15 and 2222 and 45 22 5545 and 5757 and 63Which of the following factors does not affect a person for being an entrepreneur?Family background EducationPersonal valuesGenderThe 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.MaleFemaleYoungAll of the given optionsThe activities which occur when the new venture is started are called:MotivationGoal orientationDeparture pointBusiness skillsWhich one of the following is NOT an intrapreneurial leadership characteristic?Understands environmentEncourage the team workNot flexiblePersistentThe startups which rarely go public are called:Life styleFoundation CompanySmall companyHigh potential ventureIt is proved that most businesses failed because of improper planning of an/a:InvestorMarketerEntrepreneurConsultantWhich one of the following culture that has a climate and reward system that favor conservative decision making?EntrepreneurialIntrapreneurialCorporateNone of the given optionsWhich one of the following is the fourth step in the entrepreneurial process?Developing successful business ideasDeciding to become an entrepreneurGrowing the entrepreneurial firmMoving from an idea to an entrepreneurial firmAll of the following are the broad categories of External forces EXCEPT:Economic forcesSocioeconomic forcesTechnological forcesCompetitive forcesExternal forces directly affect all of the following EXCEPT:Market segmentation strategiesTypes of products/services offeredManagement structure of organizationChoice of businesses to acquire or sellThere is evidence that an entrepreneur usually has _______________ parents.Self employedDiscouragedNon supportiveStrictGovernment can help in forming new venture by providing:FinanceTechnologyInfrastructureSubsidiariesThe decision to start a new business is taken when one perceives that forming a new business is:PossibleDesirableAccurateBoth a and b entrepreneurs differ from male entrepreneurs in terms of following EXCEPT:MotivationBusiness skillsDeparture point ???Goal orientationAn entrepreneur into the hosiery business found out the reason his hosiery was not selling was due to its color. What could be the best source of this information? Supplier RetailerCompetitionGovernment bureauof the following factors has allowed small companies to act like they are big ones?CompetitionEconomic developmentTechnologyCustomersWhich two work environments should be good for spawning the new enterprises?Finance and marketingFinance and R&DMarketing and R&DMarketing and ITWhich of the following receives highest investment?High potential ventureFoundation firmLife stylePublic company of the following has a contradictory relationship with an individual for being an entrepreneur?His birth orderParents social statusParents occupationRelationship with parentsWhich one of the following is required to develop a good team for creating something new?Relationship with team membersOpen discussionNon flexible behaviorDiscouragement of team members ideasGood entrepreneurs are usually from families which are:LandlordsCapitalistsCan be from any family with supportive parents ???????Conservative parents___________ is required if a company wants to be more flexible in adopting changes.Management commitmentContact with customersTechnologyMore productivityIt is proved that most businesses failed because of improper planning of an/a:InvestorMarketerEntrepreneurConsultantFemale entrepreneurs differ from male entrepreneurs in terms of followingEXCEPT:MotivationBusiness skillsDeparture pointGoal orientationQ #2: ___________ Process of creating incremental wealth is calledEntrepreneurship.A. DynamicB. StaticC. ContinuesD. SystematicQ #3: Most important factor in forming a new business is:A. FinanceB. MarketingC. Govt SupportD. Family SupportQ #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 modelC. AnatomizationD. None of the given optionsQ #6: Which one of the following is the primary cause of failure in small businesses?A. Poor financial controlB. Poor locationC. Management mistakesD. Improper inventory controlQ #7: Which one of the following is the first step in the entrepreneurial process?A. Developing successful business ideasB. Deciding to become an entrepreneurC. Growing the entrepreneurial firmD. Moving from an idea to an entrepreneurial firmQ #8: Which of the following is NOT included in the opportunity evaluation process?A. Length of the opportunityB. Real and perceived value of opportunityC. Goals and objectives of customersD. Risks and rewards of opportunityQ #9: The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing:A. EntrepreneurshipB. IntrapreneurshipC. Managerial domainD. Administrative domainQ #10: The entrepreneurs_______________ depends on his perception of the opportunity.A. Commitment to opportunityB. Commitment of resourcesC. Control of resourcesD. Strategic orientationQ #11: Which of the following statements about the entrepreneurial climate is (are) true?A. Trial and error are discouragedB. Resources of the firm need to be available and easily accessibleC. A multidisciplinary approach is discouragedD. Failures are not allowedQ #12: Which of the following makes the formation of new venture difficult within corporate culture?Lack of entrepreneurial talentLack of freedom to make autonomous decisionsLack of market opportunityD. All of the given optionsQ #13: Which of the following factors has allowed small companies to act like they are big ones?A. CompetitionB. Economic developmentC. TechnologyD. CustomersQ #15: Being ones own boss is a need of:A. IndependenceB. AchievementC. AffiliationD. AuthorityQ #16: An individuals need to be recognized is called:A. Need for independenceB. Need for affiliationC. Need of fameD. Need for achievementQ #17: Which one of the following factors does not affect a person for being an entrepreneur?A. Family backgroundB. EducationC. Personal ValuesD. GenderQ #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 fundsB. Males often have more experience in manufacturing, finance, or technical areasC. Men are often more confident and less flexible and tolerantD. Men usually list outside advisors as the least important supportersPlan Outline:1.0 Executive Summarya. Missionb. Objectivesc. Keys to Success2.0 Company Summary d. Company Ownershipe. Company Historyf. Company Locations and Facilities3.0 Servicesg. Service Descriptionh. Competitive Comparisoni. Sales Literaturej. Fulfillmentk. Technologyl. Future Services4.0 Market Analysis Summarym. Market Segmentationn. Service Business Analysisi. Main Competitors ii. Competition and Buying Patterns iii. Business Participants iv. Distributing a Service5.0 Strategy and Implementation Summaryo. Marketing Strategyi. Promotion Strategy ii. Distribution Strategy iii. Positioning Statement iv. Pricing Strategyp. Sales Strategyi. Sales Programs ii. Sales Forecast6.0 Management Summary2. Organizational Structure3. AppendixThere is an evidence that an entrepreneur usually has _______________ parents.Self employedDiscouragedNon supportiveStrictWhich one of the following makes formation of new ventures within a corporate structure difficult?Lack of intrapreneurial talent ??Lack of freedom to make autonomous decisionsLack of market opportunityLack of knowledgeQuestion # 8 of 10 Total Marks: 1Professional support network includes following EXCEPT:Personal affiliationsMentorTrade associationsFriendsWhich of the following is NOT a characteristic of an entrepreneur?Need for independenceNeed for affiliationNeed for achievementRisk takingWith a commercial history of only 300 years, which country was a new comer to the international arena? Japan U.S China U.KInternational entrepreneurs decisions are more complex because of: Business expansion Analysis of Huge information is difficult Complex transactions Uncontrollable factorsWhich of the following techniques is an excellent method for initial screening of ideas and concepts? Focus group Problem inventory analysis Brain storming Reverse brainstormingWhich one of the following is a method for obtaining new ideas and solutions by focusing on problems? Product inventory analysis Gordon method Checklist method Scientific methodThe marketing perspective of business plan considers the venture through the eyes of: Investor Customer Entrepreneur Marketing managerQuestion No: 16 ( Marks: 1 ) Please choose oneWhich one of the following is NOT a condition of a contract? An offer is made An acceptance of offer Counter offer Consideration is givenTrade barriers cause: Increase in cost Decrease in cost Increase in profit None of the given optionsWhich of the following is a method of selling goods to another country through a person in the entrepreneurs home country? Trading Direct export Indirect export Domestic salesWhich of the following is required for a company that wants to be more flexible in adopting changes? Management commitment Contact with customers Technology More productivityWhich of the following typical culture has a climate and reward system that favors conservative decision making? Entrepreneurial Intrapreneurial Corporate None of the given optionsWhich of the following statement about the intrapreneurial climate is true? Trial and error are discouraged Resources of the firm need to be available and easily accessible A multidisciplinary approach is discouraged Failures are not allowedWhich of the following are known as barriers to new product creation and development? Trial and error Opportunity parameters Opportunity cost Intrapreneurship cultureAll of the following are true regarding male entrepreneurs EXCEPT: Typically most male entrepreneurs are first-borns ?? Dissatisfaction with present job is a departure point for a male entrepreneur Male entrepreneurs mostly have a occupational background of middle-management or administrative-experience in the field Male entrepreneurs tend to be opinionated and persuasive in their approachEntrepreneurial endeavors consist of all of the following key elements Except: New business venturing Increasing productivity Innovativeness ProactivenessWhich of the following factor does not affect a person for being an entrepreneur? Family background Education Personal values Gender ??The former USSR received technology and syrup from Pepsi and provided it withSoviet vodka and rights to distribute it in the US. This is an example of: Economic development Barter system Balance of payment International tradeAn entrepreneur doing business within the national border is called: International entrepreneurship Intrapreneurship Domestic entrepreneurship None of the given optionsWhich one of the following may need the business plan? Employees Investors Advisors All of the given optionsFollowing are the types of foreign direct investment EXCEPT: Joint venture Management contracts ?? Minority interest Merger Vu Seekerz (../)We Are Here Just For Your HelpPosted in Solved Past Papers and tagged 100% solved papers, business, Entrepreneurship, final term past papers, huge collection of past papers, Intrapreneurship, MGT602, MGT602 Solved Past Papers, PastPapers, Seekerz, Solved Past Papers, VU Past PApers, Vu Seekerz Older Entry (http://vuseekerz.wordpress.com/2011/11/20/cs-507-information-system-mid-termpapers-2/)Newer Entry (http://vuseekerz.wordpress.com/2011/11/20/fin623-taxation-management-mid-termsubjective-papers/)Blog at WordPress.com. The Bold Life Theme.FollowFollow VU SeekerzPowered by WordPress.com http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/31/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/76/83 http://vuseekerz.wordpress.com/2011/11/20/mgt602-entrepreneurship-final-term-mcq-papers-100-solved/75/83

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