MGT602 MID 31May2010

Question No: 1    ( 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 networks

   

Question No: 2    ( 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 system

   

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

 Which one the following is the best protection against product liability?

       ► Avoid negligence

       ► Warn consumers of any potential hazards

       ► Give warranty

       ► Avoid misrepresentation

   

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

 Which one of the following reviews the trends and competitive strategies?

       ► Environmental analysis

       ► Product forecast

       ► Contingency plan

       ► Industry analysis

   

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

 A utility patent has a term of:

       ► 10 years

       ► 40 years

       ► 20 years

       ► 80 years

   

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

 Which of the following body issues patents?

       ► GATT

       ► NAFTA

       ► FTA

       ► PTO

   

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

 Which of the following is a more structured method of problem solving, including principles and rules for concept formation, making observations and experiments, and finally validating the hypothesis?

       ► Scientific method

       ► Heuristics

       ► Attribute listing

       ► Value analysis

   

Question No: 8    ( 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

       ► Federal government

       ► Consumers

   

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

 GATT is established in 1947, under:

       ► German leadership

       ► French leadership

       ► U.S. leadership

       ► U.K. leadership

   

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

 Factors contribute to the creation of new venture EXCEPT:

       ► Government

       ► Finance

       ► High interest rates

       ► Role models

   

Question No: 11    ( 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: 12    ( Marks: 1 )    - Please choose one

 Which one of the following is the primary cause of failure in small businesses?

       ► Poor financial control

       ► Poor location

       ► Management mistakes

       ► Improper inventory control

    

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

 Which 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 firm

   

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

 Which one of the following is NOT a phase of entrepreneurial process?

       ► Identification and evaluation of opportunity

       ► Development of business plan

       ► Deciding to become an entrepreneur

       ► Determination of required resources

   

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

 Which one of the following is not the intrapreneurial leadership characteristic?

       ► Understands environment

       ► Encourage the team work

       ► Not flexible

       ► Persistent

   

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

 Which of the following system is necessary for expansion or elimination of intrapreneurial units?

       ► Management

       ► Evaluation

       ► Reward

       ► Training

   

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

 Which of the following factor does not affect a person for being an entrepreneur?

       ► Nationality

       ► Education

       ► Personal values

       ► Work history

   

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

 Professional support network includes all of the following EXCEPT:

       ► Personal affiliations

       ► Mentor

       ► Trade associations

       ► Friends

   

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

 Following are the types of foreign direct investment EXCEPT:

       ► Joint venture

       ► Management contracts

       ► Minority interest

       ► Merger

   

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

 Following are the types of non-equity arrangements EXCEPT:

       ► Licensing

       ► Management contracts

       ► Direct export

       ► Turnkey projects

   

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

 According to which of the following, an entrepreneur is the person who brings resources, labor, materials and other assets into combinations that increase their value?

       ► Economist

       ► Psychologist

       ► Businessman

       ► Sociologist

   

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

 Which of the following abilities must be possessed by an entrepreneur?

       ► Creative

       ► Conceptualization

       ► Understanding environment

       ► All of the given options

   

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

 Which of the following options can be very helpful to start-up new ventures?

       ► Seed Capital

       ► Infrastructure

       ► Technology

       ► Experience

   

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

 According to Henning and Jardim, female executives tend to be the firstborn. Which of the following supports this research?

       ► Because firstborn has to be more responsible

       ► Because firstborn needs special care

       ► Because firstborn tends to be more flexible

       ► Because firstborn receives special attention

   

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

 In terms of personality, there are strong similarities between men and women entrepreneurs. Which of the following does not refer to this statement?

       ► Both are energetic

       ► Both are goal oriented

       ► They want to be independent

       ► Males are more confident than women

   

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

 Which of the following businesses women entrepreneurs prefer to start?

       ► Manufacturing

       ► Construction

       ► Educational services

       ► High-technology fields

   

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

 “Paying for goods indirectly through another source” refers to:

       ► Barter

       ► Trading

       ► Third-party arrangement

       ► Balance of payment

   

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

 Which of the following best defines “diversified activity merger”?

       ► It refers to combining two firms with noncompeting products

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

       ► It refers to combining at least two totally unrelated firms

       ► It refers to combining at least two firms at different market levels

   

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

 Which of the following statements best defines “brainstorming”?

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

       ► It refers to a group method for obtaining new ideas and solutions

       ► It refers to a method for obtaining new ideas and solutions by focusing on problems

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

   

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

 Identify the statement which refers to “licensing”.

       ► It grants holder protection from others making, using or selling similar idea

       ► It may be a word, symbol, design or some combination that identifies the source of certain goods

       ► It protects original works of authorship

       ► It is a contractual agreement giving rights to others to use intellectual property in return for a royalty or fee

   

Question No: 31    ( 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: 32    ( Marks: 1 )    - Please choose one

 Which of the following trademarks is used to suggest certain features, qualities, ingredients or characteristics of a product or service?

       ► Coined mark

       ► Arbitrary mark

       ► Suggestive mark

       ► Descriptive mark

   

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

 Data that support the opportunity for the venture should be briefly stated in the executive summary. If this venture is an internet business, all of the following facts should be stated by an entrepreneur EXCEPT:

       ► Growth in the number of internet users

       ► Growth in the average amount of time spent on the internet

       ► Growth in sales dollars generated on the internet

       ► Growth rate of population

   

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

 Which of the following make the business plan difficult to control and implement?

       ► Too general goals and objectives

       ► Too specific goals and objectives

       ► Realistic goals and objectives

       ► None of the given options

   

Question No: 35    ( Marks: 3 )

 Describe any three issues that should be addressed in executive summary.

   

Question No: 36    ( Marks: 5 )

 Briefly discuss the status of entrepreneurship in Europe.

   

Question No: 37    ( Marks: 5 )

 Discuss what kind of information should be mentioned in “description of venture” section of a business plan.