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MIDTERM EXAMINATION Spring 2009 MGT602- Entrepreneurship

Question No: 1 ( Marks: 1 ) - Please choose one

Which of the following has not yet been empirically established as a distinguishing characteristic of entrepreneurs?



► Locus of control

► Feeling about independence

► Need for achievement

► Risk taking



Question No: 2 ( Marks: 1 ) - Please choose one

The level at which an individual is viewed by society is called:



► Financial status

► Qualification

► Social status

► Achievement



Question No: 3 ( Marks: 1 ) - Please choose one

Which one of the following is a business arrangement in which someone else is allowed to use something of the company?



► Patent

► Trade mark

► Copy right

► Licensing



Question No: 4 ( Marks: 1 ) - Please choose one

Which of the following method entrepreneur can use to do international business with least risk?

► Turnkey projects

► Joint venture

► Merger

► Synergy



Question No: 5 ( Marks: 1 ) - Please choose one

A company dealing in beer has a merger with cigarettes manufacturing firm. This merger is called:



► Horizontal merger

► Product extension merger

► Market extension merger

► Vertical merger



Question No: 6 ( Marks: 1 ) - Please choose one

Which one of the following is an important source of idea generation due to their familiarity with the needs of market?



► Existing products and services

► Distribution channels

► Federal government

► Consumers



Question No: 7 ( Marks: 1 ) - Please choose one

Members of distribution channels are excellent sources for new ideas because:



► They are familiar with the needs of the market

► They earn a handsome profit from new business

► They do not bother if entrepreneur bears a loss

► They have well-developed sales force



Question No: 8 ( Marks: 1 ) - Please choose one

Which one of the following is the most important characteristic of a successful business websit?



► Speed

► Innovation

► Graphics

► Products



Question No: 9 ( Marks: 1 ) - Please choose one

Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process?



► Idea Stage

► Product Planning Stage

► Product Development Stage

► Test Marketing Stage



Question No: 10 ( Marks: 1 ) - Please choose one

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



► 12 years

► 17 years

► 20 years

► As long as it remains confidential



Question No: 11 ( Marks: 1 ) - Please choose one

SBA stands for:



► Small business accountants

► Small business administration

► Small business adequacy

► Small business advisors



Question No: 12 ( Marks: 1 ) - Please choose one

Why should an entrepreneur do a feasibility study for starting a new venture?



► To see if there are possible barriers to success

► To identify possible sources of funds

► To estimate the expected sales

► To explore potential customers



Question No: 13 ( Marks: 1 ) - Please choose one

Information regarding all of the following is related to operations, EXCEPT:



► Location

► Promotion

► Raw materials

► Labor skills



Question No: 14 ( Marks: 1 ) - Please choose one

Which one of the following guide the firm through the long term decision making?



► Mission statement

► Product forecast

► Industry analysis

► None of the given options



Question No: 15 ( Marks: 1 ) - Please choose one

Which of the following is included in the description of the business?



► Location

► Products offered

► History

► All of the given options



Question No: 16 ( Marks: 1 ) - Please choose one

For which of the following copy right acquisition is desirable?



► Songs

► Poems

► Models

► All of the given options



Question No: 17 ( Marks: 1 ) - Please choose one

Which of the following is TRUE for Disclosure Document?



► It gives recognition that he was the inventor of the idea in past

► It gives recognition that he is the first the inventor of the idea

► It gives recognition that he will be the invent an idea in future

► It gives recognition that he wants to copy the idea



Question No: 18 ( Marks: 1 ) - Please choose one

Which of the following is aidea generation method that focuses on parameters?





► Brainstorming

► Reverse brainstorming

► Creative problem solving

► Synectics



Question No: 19 ( Marks: 1 ) - Please choose one

The transitional disturbance and lack of reform has led to a booming black market in:



► China

► Hungary

► Singapore

► Poland



Question No: 20 ( Marks: 1 ) - Please choose one

Which of the following geographical area is of least interest to U.S entrepreneurs?



► Europe

► The Far East

► Central Asia

► Transition economies



Question No: 21 ( Marks: 1 ) - Please choose one

Which one of the following gives suggestions for new product and also help to market new products?



► Existing products and services

► Distribution channels (Doubted)

► Federal government

► Consumers



Question No: 22 ( Marks: 1 ) - Please choose one

Which of the following is used by entrepreneurs to acquire experience in an international market before making a major commitment?



► Merger

► Joint venture

► Minority interest

► Majority interest



Question No: 23 ( Marks: 1 ) - Please choose one

GATT is established in 1947, under:



► German leadership

► French leadership

► U.S. leadership

► U.K. leadership



Question No: 24 ( Marks: 1 ) - Please choose one

The entrepreneur was distinguished from capital provider in:



► Middle ages

► 18th century

► 17th century

► 19th and 20th century



Question No: 25 ( Marks: 1 ) - Please choose one

A person who managed large project was termed as the entrepreneur in the _________.



► Earliest period

► Middle ages

► 17th century

► 19th and 20th century



Question No: 26 ( Marks: 1 ) - Please choose one

Which of the following factor is most important in forming a new business?



► Finance (doubted)

► Marketing

► Government support

► Family support



Question No: 27 ( Marks: 1 ) - Please choose one

What is the process by which individuals pursue opportunities without regard to resources they currently control?



► Startup management

► Entrepreneurship

► Financial analysis

► Feasibility planning



Question No: 28 ( Marks: 1 ) - Please choose one

Which one of the following is the process of entrepreneurs developing new products that over time make current products obsolete?



► New business model

► Anatomization

► Creative destruction

► None of the given options



Question No: 29 ( Marks: 1 ) - Please choose one

Which of the following shows the process of creating something new?





► Business model

► Modeling

► Innovation

► Creative flexibility



Question No: 30 ( 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: 31 ( Marks: 1 ) - Please choose one

In the administrative domain, the commitment of resources is for which of the following?

► Periodic intervals

► Total amount needed

► For certain tasks

► For long time



Question No: 32 ( Marks: 1 ) - Please choose one

Which of the following is alternatively called corporate venturing?



► Entrepreneurship

► Intrapreneurship

► Act of stating a new venture

► Offering new products by an existing company



Question No: 33 ( Marks: 1 ) - Please choose one

Which is the most common cause of business failure?



► Insufficient capital

► Unstable market

► Insufficient experience

► Poor entrepreneurship


Answer Requested



Question No: 34 ( Marks: 1 ) - Please choose one

Which of the following areas are preferred by women entrepreneurs?





► Administration

► Utilities

► Manufacturing

► None of the above



Question No: 35 ( Marks: 1 ) - Please choose one

Degree of influence and control on other people is called:





► Locus of control

► Locomotion of control

► Locust of control

► Loss of control



Question No: 36 ( Marks: 1 ) - Please choose one

Individuals influencing an entrepreneur’s career choice and style are known as which of the following?



► Role model

► Moral-support network

► Professional support network

► Support system



Question No: 37 ( Marks: 1 ) - Please choose one

The activity which occurs when the new venture is started is called:



► Motivation

► Business skills

► Departure point

► Goal orientation



Question No: 38 ( Marks: 1 ) - Please choose one
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