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ENTREPRENEURSHIP
FROM CHAPTER NO 1 TO 10
QUIZ 1
- Any patents, trademarks , copyright or trade secrets held by the entrepreneur is known as
- Disclosure document
- Patent
- Intellectual property
- None of the mentioned
- The organization will never be able to make the necessary changes without_________
- Top management commitment
- Employees
- Workers
- None of the mentioned
- The ways entrepreneurs make decisions.
- Entrepreneurial domain.
- Reverse brain storming
- Heuristics
d.Reverse brain storming
- A trademark is 5. A word, symbol, name or device that a business uses to identify its goods.
1. A legal protection for information on foreign products.
- Legal protection for intellectual works.
- Legal protection for a U.S. product exported to another country.
- locus of control is
- A feeling
- Attitude
- Attribute
- None of the above
- Licensing arrangements have
- Low risk process involved
- Easy way to generate incremental income
- Several pitfalls
- All of the above
- Personal characteristics to be a successful entrepreneur includes
- Understanding environment
- Creating management options
- Encourage open discussion
- All of the above
- International entrepreneurship is
- Licensing
- Exporting
- Both of the mentioned options
- None of the two mentioned
Which of the following is not a characteristic that is helpful for an entrepreneur to have? a. Self-esteem b. Caution c. Drive d. Optimism
- Hindrance for going in the international business is known as
- Synergy
- Turn key point
- Trade barrier
- Minority interest
ENTREPRENEURSHIP (MGT 602)
From chapter No 13 to 22
Assignment No. 2 (Quiz)
Questions:
1. A set of reasons for engaging in a particular behavior, especially human behavior is
known as _____________.
a. Values
b. Vision
c. Entrepreneurship
d. Motivation
2. Which of the following techniques is an excellent method for initially screening ideas
b. Majority interest
c. Horizontal merger
d. Diversified activity merger
9. 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 contract
b. Indirect exporting
c. Licensing
d. Turn-key project
10. The development of a new venture based on an inventor's work often requires
________.
a. Expertise of an entrepreneur
b. Heavy investment from financers
c. Skilled human resources
d. Highly educated staff
Entrepreneurship (MGT602)
Quiz # 02
- __________________ is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs. a. Target Market b. Market Analysis c. Market Segmentation d. All of the Above
- A business where an individual is both the owner and conductor of the business affairs is called__________________. a. Sole Proprietorship b. Partnership c. Corporation d. None of the above
- In __________________, the entrepreneur has the right to sell any assets. a. Proprietorship b. Partnership c. Limited Liability Company d. None of the given options
- ____________________are lists of the general tasks, or functions, and responsibilities of a position. a. Job Specifications b. Job descriptions c. Job Requirements d. Jobholder
- A________________ can be a budget, a plan for spending and saving future
income. a. Marketing Plan b. Financial Plan c. Production Plan d. Organizational Plan
- ________________ involves an interest-bearing instrument, usually a loan, the payment of which is only indirectly related to sales and profits. a. Equity Financing b. Internal or External Funds c. Banking Funds d. Debt Financing
- The idea and actions that explain how a firm will make its profits refers to a. Mission b. Goal c. Strategy d. Objective
- SBIR stands for: a. Small Business Information Research b. Small Business Innovation Research c. Small Business Intelligent Research d. Small Business Inventory Research
- _______________is what the "W" in the SWOT analysis stands for. a. Wedge b. Work/life c. Worth of Business d. Weakness
- Benefits can focus on which of these? a. Value and Cost b. Imitation and Innovation c. Internal and External aspects d. None of the given options
Entrepreneurship(MGT602)
Quiz No 1
- An entrepreneur's primary motivation for starting a business is
1. To make money
7. Entrepreneurs:
1. Are the life of the party
2. Are bores at a cocktail party
3. Will never go to parties
4. Just fit into the crowd at a party
8. Entrepreneurs and ventures capitalists:
1. Get along well
2. Are the best friends
3. Are cordial friends
4. Are in conflict
9. An entrepreneur's primary motivation for high ego and need for achievement is based
upon a relationship with:
1. Spouse
2. Mother
3. Father
4. Children
- An individual usually begins his or her first significant entrepreneurial business enterprise at what age
1. Teens
2. Twenties
3. Forties
4. Fifties
Entrepreneurship (MGT602)
Quiz # 1
1. NAFTA stands for:
a) North American Free Trade Agreements
b) North Asian Free Trade Agreements
c) National Asian Free Trade Agreements
d) National American Free Trade Agreements
2. The factor______________ is probably the most prevalent reason for
mergers.
a) Taxation
b) Economies of scale
c) Inflation
d) Mergers
3. A _____________ merger is a combination of two firms producing the same
products but selling them in different geographic markets.
a) Diversified Activity Merger
b) Product Extension Merger
c) Vertical Merger
d) Market Extension Merger
4. One of the most frequent reasons an entrepreneur forms a joint venture is
to share the ________________.
a) Resources
b) Cost
c) Cost and risk of a project
d) Profit
5. _______________ involves having a foreign purchaser in the local market or
using an export management firm.
a) Direct Exporting
b) Indirect Exporting
c) Management Contracts
d) Turn-Key Projects
6. The ______________measures the payments that flow between any
individual country and all other countries.
a) International Business
b) Economies of Scales
c) Balance of Payment
d) None of the given options
7. ________________ 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 Sue
b) Shotgun Sam
c) Hidden Agenda Harry
d) Inventor Irving
8. One study found that the typical minority business owner was the
a) 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 failures
b) Tries to avoid mistakes and surprises
c) Attempts to hide risky projects from view until ready
d) None of the given Options
a) Foundation
b) Life-Style Firm
c) High-Potential Venture
d) Both b and c
18. _________________ involve such things as writing, listening, oral
presentations, coaching and technical know-how.
a) Business Management skills
b) Personal entrepreneurial skills
c) Technical skills
d) None of the given options
19. The ___________________ means to do things in his or her own way and
time.
a) Need per independence
b) Need for achievement
c) Personal values
d) Ethics
20. ________________ is a reason or set of reasons for engaging in a
particular behavior, especially human behavior.
a) Moral value
b) Act
c) Motivation
d) None of the options
- The _______ plan shows whether the business is economically feasible or not. a. Financial b. Business c. Economic d. Marketing
- In which of the following, the ownership of venture is reflected by ownership of shares of stock? a. Partnership b. Limited partnership c. Corporation d. Proprietorship
- Bankers say that most businesses fail because of the _____ inability to plan properly. a. Investor's b. Marketer's c. Entrepreneur's d. Consultant's
- The _________ of a venture could be that the company has experience in related business. a. Strength b. Weakness c. Opportunity d. Threat
- The marketing plan should focus on strategies and for the first year, goals and strategies should be projected __________. a. Daily b. Weekly c. Monthly d. Quarterly
- Which of the following is not a characteristic of marketing plan? a. It should provide a strategy to accomplish the company mission b. It should provide for the use of existing resources c. It should be simple and short d. It should be rigid
- Secondary data can be obtained from all of the following sources, except: a. Internet b. Magazine c. Bureau of statistics d. Focus group
- Which of the following is one of the simplest form and lowest in entry costs. a. Direct mail marketing b. Online marketing c. Sales promotion d. Export marketing
- In ________, the death of entrepreneur results in the termination of venture. a. Proprietorship b. Limited company c. Limited partnership d. Corporation
- In partnership, the ability to raise capital depends on the __________ of the business. a. Expansion b. Success c. Size d. Nature Entrepreneurship (MGT 602) Quiz # 2
- Which of the following is NOT recognized an important component to organizational vision? a. The vision should be built on a foundation of the organization's core values and beliefs. b. The vision should elaborate a purpose for the organization. c. The vision should include a brief summary of what the organization does. d. The vision should specify detailed and short-term goals.
- Which of the following components of organizational vision
- All of the following are important elements of the financial data and projections section of a business plan EXCEPT: a. SWOT analysis b. Projected income statements c. Break-even analysis d. Cost controls
- Which of the following is NOT an important characteristic when writing a business plan? a. Clear, realistic financial projections b. Detailed market research c. Brief summary since the investor is more interested in the details in the business plan. d. Proof of vision
- A(n) ___________ is a form of organization in which the owner maintains complete control over the business and is personally liable for business debts. a. Sole proprietorship b. General partnership c. corporation 5 d. Limited liability company
- A(n) _____________ is a form of business organization in which two or more business owners share the management and risk of the business a. Limited liability company b. General partnership c. Corporation d. Sole proprietorship
- A(n) ____________ is a form of business organization in which there are general partners and limited liability partners. a. Sole proprietorship b. General partnership c. Limited liability partnership d. Corporation
- A(n) ___________ is a legal business entity that is separate from its owners and managers. a. Sole proprietorship b. General partnership c. Corporation d. Limited liability company
- A(n) ____________ is a form of legal protection for a distinctive word, name, phrase, logo, symbol, design, slogan, or any combination of these elements. a. Trademark b. Patent c. Contract d. Procedure
- Which of the following is NOT one of the three different types of patents?
a. Utility patent b. Design patent c. Plant patent d. All of the selections if a valid type of patent.
- Which of the following is recognized as the most common type of patent? a. Utility patent b. Design patent c. Plant patent d. Cultural patent
- All of the following are signals of potential decline in organizational performance EXCEPT: a. Poor communication within the organization b. Intolerance of work incompetence c. Fear of conflict and taking risks d. Negative cash flow
- All of the following are recognized as important people practices of successful organizations EXCEPT: a. Employment security b. Selective hiring c. Increased status differences d. Training
- Which of the following is NOT a characteristic of an effective team? a. External support b. Clear goals c. Irrelevant skills d. Mutual trust
Entrepreneurship (MGT602) Quiz # 2
1. In brainstorming
No criticism is allowed Quantity of ideas is desired None of the mentioned options Both of the mentioned options
2. A technique that asks questions about objects or ideas in an effort to develop a new idea is
Heuristics Matrix charting Forced relationships Attribute listing
3. The solution development is
Big-Dream approach Parameter Analysis
Retailer
- Which of the following statement is true for tax advantage of proprietorship?
There is double tax on profits There is no capital stock tax or penalty for re tained earnings Both of the options given None of the options given
3. Industry analysis should include information on:
Market size of competitor's product Growth rate of suppliers New products entry Economic conditions
4. We need to update the business plan because…………
Environmental factors and internal factors can change the direction of the plan Goals set by the entrepreneurs may be unreasonable. Goals may not be measurable. Goals may not be specific
5. Marketing research involves the gathering of data in order to determine information as:
Who will buy the product? What price should be charged? What is the most effective promotion strategy? All of the mentioned options
6. The marketing plan describes how the products will be distributed, priced, and promoted?
True False
7. The marketing plan should be a superficial document.
True False
8. The LLC is similar to an S corporation, but is more flexible
True False
9. The entrepreneur should have a good idea of who the customer or target market will be:
True False
10. The organizational plan section should not describe the venture's form of ownership
True False
Entrepreneurship(MGT 602)
Quiz 04
- The most often used type of funds is
Inter nally gener ated funds Externally generated funds Commercial bank funds None of the mentioned options
2. Which of the following is not type of Bank Loans?
Inventory loans Accounts payable loans Equipment loans Real estate loans
- Conventional bank loans include:
Lines of credit In stallment loans Straight com mercial loans All of the mentioned options
- When an entrepreneur is unable to secure a regular com mercial bank loan, an alternative is a:
Small and medium enterprise loan Character loan Small Business Ad ministration (SBA) Guaranty Loan Equipment loan
3. The managers in an organization strongly supporting intrapreneurship is called -----
Top management commitment Upper management commitment Lower management intrapreneur Upper management intrapreneur
4. ------------- involves a manufacturer giving a foreign manufacturer the right to use a patent, trademark or technology in return for a royalty
Licensing Turn-key projects Management contracts None of the mentioned options
5. Female entrepreneurs differ in terms of --------------------, -----------------------, and ---------- -----------------
Motivation Business skills Occupational background
6. In terms of ------------------------------, most entrepreneurs initiate their entrepreneurial careers between the ages of 22 and 45.
Chronological age
7. Creativity tends to decrease with age and education
True False
8. Arriving activity occurring when the venture is started
True False
9. The creator is an individual who creates something new
True False
10. An attribute indicating the sense of control that a person has over life is called locus of control
True False
- In chronological age , most entrepreneurs start their careers between ages a) 22 and 55 b) 30 and 55 c) 40 and 65
d) None of the given options
___________________ is the combination of at least two firms doing similar businesses at the same market level. a) Diversified activity Merger b) Horizontal Merger c) Joint Venture d) Vertical Merger
Which of the following is NOT recognized as a misconception about entrepreneurship?
a) Entrepreneurship is found only is small businesses.
b) Entrepreneurship is easy.
c) Successful entrepreneurship needs only a great idea.
d) Entrepreneurial ventures and small businesses are different
9) All of the following are recognized as potential sources of entrepreneurial ideas EXCEPT:
a) Work experiences, skills, and abilities
b) Familiar and unfamiliar products and services
c) Personal interests or hobbies
d) All of the selections are recognized as potential sources of entrepreneurial ideas.
10) An _______________________ is an individual who creates something for the first time, is a
highly driven individual motivated by his or her own work and personal ideas.
a) Entrepreneur
b) Inventor
c) Both a and b
d) None of the given options
1 The term entrepreneur came from:
a) Latin
b) French
c) English (UK)
d) none of the given option
2 The term entrepreneur is translated as:
a) between-giver
b) between-taker
c) receiver
d) giver
