MIDTERM EXAMINATION

FALL 2006
Marks: 35
MGT602 - ENTREPRENEURSHIP (Session - 3 )
Question No: 1 ( Marks: 1 ) - Please choose one
Writing a business plan can ensure that
You achieve your expense projections.
You figure out how to make your business work.
You meet your target revenue goals.
You make a profit.
Question No: 2 ( Marks: 1 ) - Please choose one
Your ________ is a concise communication of your strategy including your business definition and your competitive advantage
Target market analysis
Mission statement
Values statement
Business plan
Question No: 3 ( Marks: 1 ) - Please choose one
High-potential ventures are
Ventures that have high growth potential and therefore receive great investor's interest (page 7)
Very low growth ventures
Small ventures that support the owners and usually do not grow
None of the mentioned options
Question No: 4 ( Marks: 1 ) - Please choose one
Inner control (discipline), risk taking, innovativeness, change oriented personality are
Business management skills
Technical skills
Personal entrepreneurial skills (page 11)
None of the mentioned options
Question No: 5 ( Marks: 1 ) - Please choose one
Proactiveness includes
initiative taking
risk taking
competitive aggressiveness
All of the mentioned options (page 16)
Question No: 6 ( Marks: 1 ) - Please choose one
Some of the world's greatest entrepreneurs have overcome challenges from their childhood and youth, including:
Learning disabilities
Extreme poverty
Abuse
All of the mentioned options
Question No: 7 ( Marks: 1 ) - Please choose one
The evaluation process involves looking at
Risks and return of the opportunity
Opportunity's fit with the skills and goals of the entrepreneur
Opportunity's differential advantage in its competitive environment
All of the mentioned options (page 13)
Question No: 8 ( Marks: 1 ) - Please choose one
Entrepreneurs view change as
An opportunity
An inevitable situation
A problem
None of the above options
Question No: 9 ( Marks: 1 ) - Please choose one
Profit is a sign that an entrepreneur has added value to the scarce ________ that he or she is using.
Resources
Employees
Goods
Ideas
Question No: 10 ( Marks: 1 ) - Please choose one
Breakthrough innovations are
A new product with just physical change
A new product with some technological change (page 5)
Same product with some technological change
None of the mentioned options
Question No: 11 ( Marks: 5 )
Explain the effect of educational environment, and employment history in the development of
entrepreneur's career
Question No: 12 ( Marks: 5 )
Differentiate between the entrepreneurial and managerial styles considering two business dimensions
1.
Commitment of Resources
2.
Control of Resources
Question No: 13 ( Marks: 5 )
Suppose if you want to start a new venture, while considering the future of the entrepreneurship,
what comes in your mind to further proceed in this field?
Question No: 14 ( Marks: 10 )
Explain entrepreneurial process in detail stating its four phases clearly