MGT602 MID 29May2010

MIDTERM EXAMINATION

Spring 2010

MGT602- Entrepreneurship (Session - 2)

Time: 60 min

Marks: 47



Question No: 1 ( 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: 2 ( 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: 3 ( Marks: 1 ) - Please choose one

Which one of the following is NOT included in four C’s evaluation by lender?

► Character

► Cost

► Continuity

► Contribution



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

Which of the following is NOT essential part of the contract?

► All the parties involved should be named

► Transaction should be described in detail

► Obtain signatures of the persons involved

► Place where contract takes place



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

Which 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 options



Question No: 6 ( 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: 7 ( Marks: 1 ) - Please choose one

Andrew Carnegie is an example of entrepreneur of which century:

► Earliest period

► 19th and 20th century

► Middle ages

► 17th century



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

Which of the following two work environments should be good for spawning the new enterprises?

► Finance and marketing

► Finance and R&D

► Marketing and R&D

► Marketing and IT



Question No: 9 ( 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: 10 ( 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: 11 ( Marks: 1 ) - Please choose one

Which one of the following is a firm that achieves modest growth?

► High potential growth firm

► Foundation firm

► Life style

► Public company



Question No: 12 ( 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: 13 ( Marks: 1 ) - Please choose one

Which of the following typical culture has a climate and reward system that favors conservative decision making?

► Entrepreneurial

► Intrapreneurial

► Corporate

► None of the given options



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

What 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 marketability



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

All the following qualities are requisites for an entrepreneur Except:


► Driven by perception of opportunity

► Learning from business failure

► Cognitive adaptability

► Effectuation



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

Which one of the following factor does not differ in motivating male and female entrepreneurs?

► Independence

► Money

► Job satisfaction

► Opportunity



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

Female entrepreneurs differ from male entrepreneurs in terms of all of the following EXCEPT:

► Motivation

► Business skills

► Departure point

► Goal orientation



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

Which one of the following may need the business plan?

► Employees

► Investors

► Advisors

► All of the given options



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

Which of the following refers to new products with some technological change?

► Ordinary innovation

► Technological innovation

► Breakthrough innovation

► Technical innovation



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

Which of the following is/are known as barriers to new product creation and development?

► Trial and error

► Opportunity parameters

► Opportunity cost

► Intrapreneurial culture



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

According to research, when do the female entrepreneurs tend to start their first significant venture?

► In their mid 20s

► In their mid 30s

► In their mid 40s

► In their mid 50s



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

Which of the following statements describes “International entrepreneurship”?

► It is the process of an entrepreneur conducting business activities across national boundaries

► It is the process of an entrepreneur conducting business activities within the national boundaries

► It is an innovative corporate management style that encourages employees within an organization to create new product ideas

► It is a business structure in which an individual and his company are considered a single entity for tax and liability purposes



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

Which of the following best describes the term “indirect exporting”?

► It refers to selling goods made in one country to another country

► It refers to buying and selling of commodities

► It refers to a commercial activity of buying and bringing in goods from a foreign country

► It refers to selling goods to another country through a person in the entrepreneur’s home country



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

Identify the term which best describes the term “management contracts”?

► It refers to selling goods made in one country to another country

► It refers to buying and selling of commodities

► It is a commercial activity of buying and bringing in goods from a foreign country

► It is method of doing specific international task



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

Which of the following best defines “minority interest”?

► It refers to having less than 50 percent ownership position

► It refers to forming a third company by combining two companies

► It refers to having more than 50 percent ownership position

► It refers to selling goods made in one country to another country



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

In which of the following centuries the people of Malaysia peninsula were converted from Islam?

► 14th century

► 15th century

► 16th century

► 17th century



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

Identify the statement which best defines “reverse brainstorming”.

► It refers to groups of individuals providing in a structured format

► It refers to a group method for obtaining new ideas focusing on the negative

► It refers to a method for individuals to solve problems through one of four mechanisms

► It refers to a method for developing new ideas when the individuals are unaware of the problem



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

Identify the statement which best defines “checklist method”

► It refers to developing a new idea through a list of related issues

► It refers to a group method for obtaining new ideas focusing on the negative

► It refers to a method for individuals to solve problems through one of four mechanisms

► It refers to a method for developing new ideas when the individuals are unaware of the problem



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

Which one of the following is a method for obtaining new ideas and solutions by focusing on problems?

► Problem inventory analysis

► Gordon method

► Checklist method

► Scientific method



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

Which of the following statements best defines “forced relationship”?

► It refers to developing a new idea through a chain of word associations

► It refers to developing a new idea by looking at product combinations

► It refers to developing a new idea through inquiry and testing

► It refers to developing a new idea by evaluating the worth of aspects of ideas



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

How many major stages of “product planning and development process” are there?

► Four

► Five

► Six

► Seven



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

Which of the following denote no relationship between the mark and the goods or services?

► Coined marks

► Arbitrary marks

► Suggestive marks

► Descriptive marks



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

A design patent has a term of:

► 20 years

► 14 years

► 10 years

► 40 years



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

Lenders focus on four Cs of credit. Identify which of the following is NOT included in those four Cs.

► Character

► Cash flow

► Collateral

► Code of ethics



Question No: 35 ( Marks: 3 )

Briefly discuss licensing and its benefits.



Question No: 36 ( Marks: 5 )

What is a business plan and what purpose does it serve?



Question No: 37 ( Marks: 5 )

Discuss the role of “export management firm” in indirect exporting.