MGT602 mid term 2009

MIDTERM EXAMINATION Fall 2009MGT602- Entrepreneurship (Session - 4) Marks: 50Question No: 1 ( Marks: 1 ) - Please choose oneBeing one’s own boss is a need of:► Independence► Achievement► Affiliation► Authority Question No: 2 ( Marks: 1 ) - Please choose oneIndividuals 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 oneThe difference between the value of a country’s imports and exports over time is called:► Deficit exports► Deficit imports► Balance of payment► Balance of debtQuestion 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 oneAn ice cream producing company merges with a cotton spinning company this merger is an example of: ► Diversified activity merger► Product extension merger► Market extension merger► Vertical mergerQuestion No: 6 ( Marks: 1 ) - Please choose oneWhich one of the following is important for international business to avoid trade barriers?► Protectionist attitude► Entrepreneurial partnering► Free trade areas► None of the given optionsQuestion No: 7 ( Marks: 1 ) - Please choose oneWhich of the following contains large number of new ideas?► All of the given option► Files of Patent office► Official Gazette► Government patent BoardQuestion No: 8 ( Marks: 1 ) - Please choose oneWhich 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 methodQuestion No: 9 ( Marks: 1 ) - Please choose oneAll of the following are essentials 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 cabinetsQuestion No: 10 ( Marks: 1 ) - Please choose oneLicensing is a significant marketing strategy to:► Use intellectual property of others► Pirate others’ patents► Grow the business in new markets► Control the costsQuestion No: 11 ( Marks: 1 ) - Please choose oneWhich one the following is the best protection against product liability?► Avoid negligence► Warn consumers of any potential hazards► Give warranty► Avoid misrepresentationQuestion No: 12 ( Marks: 1 ) - Please choose oneWhich one of the following is NOT an external factor?► New regulations ► Competition► Social changes► Manufacturing Question No: 13 ( Marks: 1 ) - Please choose oneWhich one of the following is NOT an internal factor?► New technology► Manufacturing► Marketing ► PersonnelQuestion No: 14 ( Marks: 1 ) - Please choose oneSBA stands for:► Small business accountants► Small business administration► Small business adequacy► Small business advisorsQuestion No: 15 ( Marks: 1 ) - Please choose oneInformation regarding all of the following is related to operations, EXCEPT:► Location► Promotion► Raw materials► Labor skillsQuestion No: 16 ( Marks: 1 ) - Please choose oneWhich one of the following assesses the impact of external factors on business?► Environmental analysis► Product forecast► Industry analysis► Organizational cultureQuestion No: 17 ( Marks: 1 ) - Please choose oneWhich one of the following is NOT an environmental factor?► Economy► Culture► Technology► CompetitionQuestion No: 18 ( 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: 19 ( 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 givenQuestion No: 20 ( Marks: 1 ) - Please choose oneFor which of the following copy right acquisition is desirable?► Songs► Poems► Models► All of the given optionsQuestion No: 21 ( Marks: 1 ) - Please choose oneWhich one of the following can be registered under design patent?► New product► Original product► Ornamental► All of the given optionsQuestion No: 22 ( Marks: 1 ) - Please choose oneWhich of the following is a characteristic of a good partner?► Help to achieve goals► Share entrepreneur’s vision► Do not exploit the partnership► All of the given optionsQuestion No: 23 ( Marks: 1 ) - Please choose oneWhich one of the following is a sound strategic option for an entrepreneur when synergy is present?► Merger► Joint venture► Minority interest► Majority interestQuestion No: 24 ( Marks: 1 ) - Please choose oneWhich one of the following is the way by which an entrepreneur can enter into international business?► Export► Non equity arrangements► Direct foreign investment► All of the given optionsQuestion No: 25 ( Marks: 1 ) - Please choose oneThe entrepreneur must possess the abilities:► Creative► Conceptualization► Understanding environment► All of the given optionsQuestion No: 26 ( Marks: 1 ) - Please choose oneMost of the finance for the new firm comes from following resources EXCEPT:► Friends► Foreign aid► Relatives► Personal savingsQuestion No: 27 ( Marks: 1 ) - Please choose oneWhich one of the following is a firm that achieves modest growth?► High potential growth firm► Foundation firm► Life style► Public companyQuestion No: 28 ( Marks: 1 ) - Please choose oneA foundation company is formed through which of the following?► Fashion► Most popular business► A winding up company► Research and development Question No: 29 ( Marks: 1 ) - Please choose oneWhich of the following are the Fast-growth young companies?► Gazelles ► Life style► Foundation Company► None of the given optionsQuestion No: 30 ( Marks: 1 ) - Please choose oneWhich of the following is a fourth step in the entrepreneurial process?► Developing successful business ideas► Deciding to become an entrepreneur► Growing the entrepreneurial firm► Moving from an idea to an entrepreneurial firmQuestion No: 31 ( Marks: 1 ) - Please choose oneWhich of the following is a second step in the entrepreneurial process?► Developing successful business ideas ► Deciding to become an entrepreneur► Growing the entrepreneurial firm► Moving from an idea to an entrepreneurial firmQuestion No: 32 ( Marks: 1 ) - Please choose oneThe resources acquired from outsiders(creditors, banks etc) are usually:► Easily available► Difficult to obtain► Very useful► Very cheapQuestion No: 33 ( Marks: 1 ) - Please choose oneWhich one of the following is not the intrapreneurial leadership characteristic?► Understands environment► Encourage the team work► Not flexible► PersistentQuestion No: 34 ( Marks: 1 ) - Please choose oneWhich of the following system is necessary for expansion or elimination of intrapreneurial units?► Management► Evaluation► Reward► TrainingQuestion No: 35 ( Marks: 1 ) - Please choose oneWhat takes place during the product-evolution process?► Innovation is developed and commercialized through entrepreneurial activity► The product/service is evaluated and any scope of further development is charted► The business branches into separate units of development and marketing► The product/service is evaluated to identify its global marketabilityQuestion No: 36 ( Marks: 1 ) - Please choose oneWhich of the following factor does not affect a person for being an entrepreneur?► Family background► Education► Personal values► GenderQuestion No: 37 ( Marks: 1 ) - Please choose oneThe activity which occurs when the new venture is started is called:► Motivation► Business skills► Departure point► Goal orientationQuestion No: 38 ( Marks: 1 ) - Please choose oneFollowing are the types of foreign direct investment EXCEPT:► Joint venture► Management contracts► Minority interest► MergerQuestion No: 39 ( Marks: 1 ) - Please choose oneIn an entrepreneurial domain, an entrepreneur is used to have resources for which of the following?► Periodic intervals► Whole project► For certain tasks► None of the given optionsQuestion No: 40 ( Marks: 1 ) - Please choose oneIndividuals who give psychological support to an entrepreneur are called:► Role models► Moral support networks► Professional support networks► Informal networksQuestion No: 41 ( Marks: 10 ) Entrepreneurship has gained much importance in some countries. Those countries encourage new ideas and are amongst the developed countries. But in some countries it is not much popular due to many reasons.Requirement:A. Does entrepreneurship has gained importance in the Controlled and Transition Economies? Discuss the situation of entrepreneurship in the Controlled and Transition Economies.B. In U.S entrepreneurship is very important. Most of the well established companies are interested in doing international business in the developed countries like U.S.A. Is there any specific reason?