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MGT602 Entrepreneurship
1
The venture's form of ownership should be included and described in the production plan section of the
business plan.
A)True
B)False
http://www.vuzs.info/
2
Investors consider the section on description of the venture as important because they can determine the
amount of investment needed without having to read through the entire plan.
A)True
B)False
3
Most entrepreneurs have difficulty with gathering operations information and do not often know where to
begin.
A)True
B)False
4
Potential investors are not very insistent on specifications that need to be included in the business plan.
A)True
B)False
5
The business plan is an integration of functional plans such as marketing, finance, manufacturing, and
human resources.
A)True
B)False
6
Typically business plan projections are made on a ____________.
A)bi-monthly schedule
B)quarterly schedule
C)six-month schedule
D)12-month schedule
http://www.vuzs.info/
7
The names, addresses, and resumes of the directors and officers of the corporation forms part of the
_______________ plan.
A)operations
B)organizational
C)production
D)marketing
8
A production plan usually includes:
A)pricing.
B)evaluation of the weaknesses of the business.
C)names of suppliers of raw materials.
D)flow of orders for goods and/or services.
9
Raw materials, labor skills, space and location form a part of __________ information needs.
A)marketing
B)financial
C)operations
D)planning
10
Which of the following is not among the three perspectives that should be considered in preparing a
business plan?
A)marketing perspective
B)perspective of the entrepreneur
C)investor perspective
D)technical perspective
1
If the entrepreneur closely monitors the progress of the existing plan, he or she need not be concerned
about contingencies.
A)True
B)False
http://www.vuzs.info/
2
If the market for a new venture is highly concentrated, it is advisable to consider direct sales.
A)True
B)False
3
During situation analysis, the entrepreneur should provide a review of past performance of the product
and the company.
A)True
B)False
4
While a marketing plan may enable the entrepreneur to understand and recognize the critical issues, it
may not help in the event of any change in the environment.
A)True
B)False
5
Gathering information from primary sources is the first step in market research.
A)True
B)False
6
Monitoring ___________ during the implementation of the marketing plan allows the entrepreneur to
establish controls on the process.
A)sales data
B)research data
C)consumer data
D)technical data
7
Advertising and promotion for the business-to-business market involve all of the following EXCEPT:
A)indirect sales
B)trade magazine advertising.
C)direct sales.
D)trade shows.
8http://www.vuzs.info/
10
The least expensive form of ownership to start is a:
A)corporation.
B)limited liability company.
C)partnership.
D)sole proprietorship.
2-Your ________ is a concise communication of your strategy including your business definition
and your competitive advantage
a) Target market analysis
b) Mission statement
c) Values statement
d) Business plan
4-Inner control (discipline), risk taking, innovativeness, change oriented personality are
a) Business management skills
b) Technical skills
c) Personal entrepreneurial skills
d) None of the mentioned options
5-Proactiveness includes
a) Initiative taking
b) Risk taking
c) Competitive aggressiveness
d) All of the mentioned options
6-Some of the world's greatest entrepreneurs have overcome challenges from their childhood
and youth, including:
a) Learning disabilities
b) Extreme poverty
c) Abuse
d) All of the mentioned options
8-Profit is a sign that an entrepreneur has added value to the “scarce” ________ that he or she
is using.
a) Resources
b) Employees
c) Goods
d) Ideas
1-Combination of at least two firms doing similar businesses at the same level is:
Horizontal Merger
Vertical Merger
Product Extension Merger
Diversified Activity Merger
2-A ______________ is an entity formed between two or more parties to undertake economic
activity together.
Indirect Exporting
Joint Venture
Licensing
Entrepreneurship
-____________ is a method of developing new ideas when the individuals are unaware of the
problem.
Checklist Method
Free Association Method
Gordon Method
Scientific Method
Individuals influencing an entrepreneur’s career choice and style are known as which of the
following?
► Role model
► Moral-support network
► Professional support network
► Support system
The activity which occurs when the new venture is started is called:
► Motivation
► Business skills
► Departure point
► Goal orientation
What is the process by which individuals pursue opportunities without regard to resources they
currently control?
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
Which one of the following is the process of entrepreneurs developing new products that over
time make current products obsolete?
► New business model
► Anatomization
► Creative destruction
► None of the given options
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
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
Product planning and development process
Generally divided into five major stages: idea stage, concept stage, product development stage,
test marketing stage, test marketing stage, and commercialization stage
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
Scientific method
This is a more structured method of problem solving, including principles and rules for concept
formation, making observations and experiments, and finally validating the hypothesis.
Which of the following allows the entrepreneur to establish controls on the process during the
implementation of the marketing plan?
Sales data
Research data
Consumer data
Technical data
Which of the following shows the characteristic of the venture that has experience in related
business?
Strength
Weakness
Opportunity
Threat
Advertising and promotion for the business-to-business market involve all of the following
EXCEPT:
Indirect sales
Trade magazine advertising
Direct sales
Trade shows
Which of the following shows the characteristic of the venture that has experience in related
business?
Strength
Weakness
Opportunity
Threat
Which of the following represents the environment in which entrepreneurship can’t grow?
Boom
Vacuum
Maturity
Introductory Phase
Its correct answer is "vacuum" because rest three are not environment rather these are
different stages of business. As the main feature of entrepreneurship is "independence”. So in
vacuum environment an entrepreneur cannot grow.
"What the entrepreneur hopes to accomplish" includes in which section of business plan?
Vision statement
Mission Statement
Goal Statement
All of the above
The description of the venture should be detailed in this section. This should begin with the
mission statement or company mission, which describes the nature of the business and what
the entrepreneur hopes to accomplish.
Which of the following shows the standard acceptable term of a Limited Liability Company?
Three
Ten
Twenty
Thirty
Page no 73
6. The standard acceptable term of an LLC is 30 years.
The S corporation combines the tax advantages of which one of the following?
Proprietorship and limited liability company
Partnership and corporation
Corporation and limited liability company
Partnership and proprietorship
Page no 73
1. A popular new entity is the limited liability company (LLC), which offers similar
Advantages as the S Corporation but with more liberal tax rules under subchapter K. This form is a
partnership-corporation hybrid with the following characteristics:
Which of the following shows the results from the difference between actual cash receipts and
cash payments?
Revenue
Profit
Cash flow
Income statement
What is the primary concern of entrepreneurs, who trade equity for their growing venture?
Control
Valuation
Investor capabilities
Capitalization
When the business does not have assets to support a loan, the entrepreneur may go for which
one of the following options?
Character loan
Straight commercial loan
Installment loan
Long term loan
.Character loans.
a. When the business does not have assets to support a loan, the entrepreneur may need
a character loan.
b. These loans must have assets of an individual pledged as collateral, or have the
loan cosigned by another
Which of the following number of years a mortgage loan may possibly cover?
10
20
30
40
In which of the following techniques, money is given to a firm for developing a technology and
involves a tax shelter?
Small business administration loans
Cash flow financing
Small business innovation research grant
Research and development limited partnership
This method of financing provides funds from inventors looking for tax shelters. A
typical R&Dpartnership arrangement is established with a sponsoring company developing the technology
with funds being provided by a limited partnership of individual investors. Research and development
limited partnerships are particularly good when the project involves a high degree of risk or significant
expense.
Which of the following includes grants from the U.S. government to small technology based
businesses?
Small business administration loans
Small business innovation research grant
Research and development limited partnership
Installment loans
Page no 87
Which of the following is a formalized method for obtaining funds from private investors?
Private placement
Private offering
Regulation D
Bootstrap financing
http://books.google.com.pk/books?id=s01P0agnLPUC&pg=PA336&lpg=PA336&dq=Which+of+the+followi
ng+is+a+formalized+method+for+obtaining+funds+from+private+investors%3F&source=bl&ots=rCMCD
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When did the Sindh Small Industries Corporation launch its credit scheme?
1972-73
1978-79
1988-89
1992-93
The SSIC also launched a credit scheme in 88,/89.
Which of the following is a type of leverage ratio?
Debt ratio
Net profit margin
Return on investment
Current ratio
Conflicts in Management thoughts and Entrepreneur thoughts are resolved by which of the
following company?
Xerox page 16
Unilever
Walls
Volta
In which of the following era entrepreneur enters into a contract with government to perform a
service?
20th century
Earliest period
Middle ages
17th century
In the 17th century the entrepreneur was a person who entered into a contract with the government toper
form a service Richard Cantillon, a noted economist of the 1700s, developed theories of the entrepreneur
and is regarded as the founder of the term.
In entrepreneurial domain the commitment to opportunity has short time span but in
managerial domain it is:
For 1 month
For 6 months
For long time span
For 1 year
► Locus of control
► Feeling about independence
► Need for achievement
► Risk taking
Risk Taking
Risk taking seems a part of the entrepreneurial process. However, it has not yet been empirically
A typical inventor is usually ________________________.
► Financial status
► Qualification
► Social status
► Achievement
Which one of the following is an important source of idea generation due to their familiarity
with the needs of market?
► 1960s
► 1970s
► 1980s
► 1990s
► One
► Three
► Four
► Not specific
► New product
► Original product
► Ornamental
► All of the given options
Which of the following is a method of selling goods to another country by taking care of
transactions?
► Indirect exporting
► Direct exporting
► Importing
► Management contract
Most of the finance for the new firm comes from following resources EXCEPT:
► Friends
► Foreign aid
► Relatives
► Personal savings
► Public company
► Life style
► High potential venture
► Foundation firm
► 15 and 22
► 22 and 45
► 45 and 57
► 57 and 63
It has been observed that usually the entire country is organized under single:
► Economic system
► Culture
► Living standard
► Legal environment
► Creative
► Conceptualization
► Understanding environment
► All of the given options
An individual’s desirability to form a new venture depends upon all of the following Except:
► Culture
► Family
► Teachers
► Personal savings
The perception that starting a new company is desirable results from an individual’s culture,
subculture, family, teachers and peers.
Identify the type of innovation which refers to new products with significant technological
advancement.
► Ordinary innovation
► Technological innovation
► Breakthrough innovation
► Technical innovation
• Most innovations introduced in the market are ordinary innovations, with little uniqueness.
• Technological innovations refer to new products with significant technological
advancements. • Breakthrough innovations mean the development of new products with
some technological change
Question No: 31 ( M - 1 ) .
Which of the following best describes “contract”?
► It refers to a legally binding agreement between two parties
► 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 refers to a legal document giving official permission to do something
There are three perspectives that should be considered when preparing the plan. Which of the
following does NOT refer to the plan?
► Entrepreneurial perspective
► Marketing perspective
► Investor’s perspective
► Religious perspective
The entrepreneur understands the new venture better than anyone. The marketing
perspective considers the venture through the eyes of the customer. The investor looks for
sound financial projections. The depth of the business plan depends on the size and scope of
the proposed venture. The business plan is valuable to the entrepreneur and investors because:
Business plan should be prepared by an entrepreneur. All of the following should be consulted
while preparing this plan EXCEPT:
► Lawyers
► Accountants
► Marketing consultants
► General public
WHO SHOULD WRITE THE PLAN
The business plan should be prepared by the entrepreneur; however, he or she may consult
many sources. Lawyers, accountants, marketing consultants, and engineers are useful
supplemental sources. Other resources are the Small Business Administration, Service Core of
Retired Executives, Small Business Development Centers, universities, friends, and relatives. To
help determine whether to hire a consultant, the entrepreneur needs to make an objective
assessment of his or her own skills.
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
Which one of the following can serve entrepreneur as a consultant of the business plan?
► Lawyers
► Accountants
► Marketers
► All of the given options
► Independence
► Achievement
► Affiliation
► Authority
Need for independence. Being one’s own boss-one of the strongest needs of an entrepreneur
The difference between the value of a country’s imports and exports over time is called:
► Deficit exports
► Deficit imports
► Balance of payment
► Balance of debt
Ref: http://en.mimi.hu/business/exports.html
The difference between the value of a country's imports and exports during a specific period of times
called the balance of trade.
A/an ______ is an online connection between the company and its customers.
► Internet advertising
► Website
► E-Commerce
► World Wide Web
Website A website is an online connection between the company and its customers and can be
developed in-house or outsourced. There are several important features of every website.
Which of the following grants protection to owner from anyone else making, using and selling
the identified innovation?
► Utility patent
► Design patent
► Plant patent
► International patent
1. Utility Patents
A utility patent has a term of 17 years, beginning on the date the Patent and Trademark Office (PTO)
issues it. NAFTA (North American Free Trade Agreement) establishes a minimum period of 20 years. The
patent grants the owner protection from anyone making, using, and/or selling the invention.
► Entrepreneurs
► Consultants
► Engineers
► Small business administration services
A business plan is a written document prepared by the entrepreneur that describes all the
relevant external and internal elements involved in starting a new venture.
The product life cycle starts with which stage of product planning and development process?
Which one of the following gives suggestions for new product and also help to market new
products?
► Increase in cost
► Decrease in cost
► Increase in profit
► None of the given options
Trade barriers pose problems for entrepreneurs who want to become involved in international
business. Trade barriers increase the costs of exporting projects to a country.
A person who managed large project was termed as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
► 19th and 20th century
Middle Ages
In this age the term entrepreneur was used to describe both an actor and a person who
managed large production projects.
► Financial reward
► Long hours
► Financial insecurity
► Loneliness
► Government
► Finance
► High interest rates
► Role models
Most of the finance for the new firm comes from following resources EXCEPT:
► Friends
► Foreign aid
► Relatives
► Personal savings
What is the process by which individuals pursue opportunities without regard to resources they
currently control?
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
Conceptualized entrepreneurship as a process by which individuals - either on their own or
inside organizations - pursue opportunities without regard to the resources which they currently
control.
► European countries
► Asian countries
► Far East countries
► Middle East countries
Page 37 Entrepreneurial success in some Asian countries has been significant because of the
culture and the political and economic systems.
► Spouses
► Friends
► Business associates
► Relatives
Moral support network of family and friends. Most entrepreneurs indicate that their spouses are their
biggest supporters. Friends can provide advice that is more honest than that received from others, plus
encouragement, understanding, and assistance. Relatives can also be sources of moral support,
particularly if they are also entrepreneurs.
► Personal affiliations
► Mentor
► Trade associations
► Friends
Page 26 read Professional-Support Network
The former USSR received technology and syrup from Pepsi and provided it with Soviet vodka
and rights to distribute it in the US. This is an example of:
► Economic development
► Barter system
► Balance of payment
► International trade
Type of System Barter or third-party arrangements have been used to increase business
activity with the Commonwealth of Independent States, the former U.S.S.R.
__________ is prepared on the bases of levels of the internal structure of the business.
► Organizational Plan
► Production Plan
► Marketing Plan
► Financial Plan
The organizational plan section should describe the venture’s form of ownership. If the venture
is a corporation, this should include the number of shares authorized, share options, and names
and addresses of the directors and officers. It is helpful to provide an organization chart
indicating the line of authority. This chart shows the investor who controls the organization and
how members interact.
Which
of the following is NOT a guiding principle in a traditional corporate culture?
► Follow given instructions
► Take responsibility and ownership
► Do not take initiative
► Do not make mistakes
The guiding principles in a traditional corporate culture are:
1. Follow instructions given 2. Do not make mistakes 3. Do not fail 4. Do not take initiative 5. Stay within
your turf and protect your backside 6. This restrictive environment is not conducive to creativity,
flexibility, and risk taking
In order to minimize the negative effect of any disruption in an organization, which of the
following characteristics an intrapreneur must possess?
► He should be diplomatic
► He should be conservative
► He should be autocratic
► He should be authoritative
PAGE 20
The intrapreneur must be a good diplomat to minimize disruption.
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
Which of the following is the title or cover page that provides a brief summary of the business
plan’s content?
► Introductory page
► Executive summary
► Environmental and industry analysis
► Description of venture
PAGE 57
The title page provides a brief summary of the business plan’s contents,
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Balochistan
15. Which one of the following culture that has a climate and reward system that
favor conservative decision making?
Entrepreneurial
Intrapreneurial
Corporate
None of the given options
16. LMM stands for:
Locally Manufactured Machinery
Locally Manufactured Marble
Local Marble Market
Local Meat Market
17. Which one of the following is NOT an external factor?
New regulations
Competition
Social changes
Manufacturing
18. What can be the effect on cash flows due to delays in payments by the
clients?
Positive cash flows
Negative cash flows
No effect on cash flows
None of the given options
19. Which of the following is independently owned and operated and not
dominant in its field of operation?
Diversified Organization
International Business
Small Business
Entrepreneurship
20. __________ is commonly used to measure the short-term solvency of the
venture?
Debt to equity ratio
Current ratio
Profitability ratio
Activity ratio
21. A ______ is also essential if a new venture is a manufacturing concern.
Market analysis
Operations plan
Bank loan
Organizational plan
22. In which rule under ‘Regulation-D’, a company can sell up to $500,000 of
securities to any number of investors in any 12-month period?
Rule 502
Rule 503
Rule 504
Rule 505
23. A marketing Plan answers the _______ types of questions
1
2
3
4
24. All of the following are essential 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 cabinets
25. Which one of the following method shows the term which is related to
starting from scratch to a bigger picture?
Upward movement method
Incremental method
Downward movement method
None of the above options
26. Which type of Job analysis enlists the qualification of individual?
Job Description
Job Specification
Job identification
All of the above options
27. Which of the following factor can create the managerial difficulties in the joint
ventures between foreign companies?
Cultural differences
Economic policies
Public ignorance
Government taxes
28. In which of the following situation the company is considered to be on
breakeven point?
No Profit no lose
Profits are higher then expenses
Expenses are higher then profits
None of the given options
29. Which one of the following is a method for obtaining new ideas and solutions
by focusing on problems?
Gordon method
Checklist method
Goodwill
Skilled employees
Favorable location
Political instability
Which one of the following plans should contain control points to ascertain progress and to initiate
contingency plans if necessary?
Financial plan
Marketing plan
Business plan
Operational plan
Which of the following section of business plan provides complete overview of the product, service and
operations of a new venture?
Production plan
Marketing plan
Description of venture
Industry analysis
Which of the following business size has lot of adjustment capacity against the changes?
Small
Middle
Large
High growth
Real estates
Lease
Rentals
The members of the board should be carefully selected by considering which of the following criteria?
Select individuals who can work with a diverse group and will commit to the venture’s mission
Select candidates who will show good judgment in business decision making
Segmentation
Saturation
Marketing plan
Marketing system
Which of the following term describes the situation of two or more firms that offer essentially the same good or
service in the market?
Direct channel
Indirect competition
Direct competition
Indirect exports
Which of the following business form has advantage of no capital stock tax or penalty for retained earnings in
the business?
Proprietorship
Corporation
S corporation
A short-term, internal source of funds can be obtained by reducing all of following EXCEPT
Short-term assets
Cash
Fixed assets
Inventory
Which form of the business has the most freedom in terms of selling one’s interest in the business?
Sole proprietorship
Partnership
Corporation
S Corporation
SBA provides:
On the part of entrepreneur which of the following has/ have a great concern to the Investors
Experience
Commitment
Knowledge
On which of the following factors the death or withdrawal of a limited partner has no effect?
Job analysis
Job description
Job specification
Job evaluation
10 Agencies
11 Agencies
12 Agencies
13 Agencies
Equipment can be used to secure long term financing, usually on a ______ basis.
1 to 2 years
3 to 6 years
3 to 10 years
4 to 5 years
4
Targeting the market consists of ______ Procedures
Corporations generally possess not more than two of the following four characteristics: (1) limited liability, (2)
centralized management, (3) one time taxation, and (4) least expensive to start. The two characteristics most
likely to be absent in corporations are __________.
Before setting the product price, which of the following elements the entrepreneur needs to consider?
Costs
Markups
Competition
From which of the following R & D limited partnerships provide funds to entrepreneurs in high technology
fields?
Which of the following is the most important for the entrepreneur, while starting a new venture, to make an
assessment of?
Risk
Profit
Market
Competitors
Which of the following is used to finance floor plans of retailers such as automobile and appliance dealers?
Line of credit
Trust receipt
Accounts receivable
Real estate
Which of the following is NOT an example of gathering data from secondary sources?
Trade magazines
Newspaper
Government agencies
Focus group
Which of the following financing does not require any collateral and offers the investor some form of
ownership position in the venture?
Line of credit
Equity
Character loan
No
Triple
Single
Double
Which of the following section of business plan provides complete overview of the product, service and
operations of a new venture?
Production plan
Marketing plan
Description of venture
Industry analysis
Which of the following statement is calculated from projected revenues minus projected costs?
Transferability of interest
In which of the following royalty partnership and joint venture are used to reap the benefits of the effort?
Funding stage
Development stage
Growth stage
Exit stage
Which one of the following best describes the flow of goods and services from production to the customer?
Organizational plan
Marketing plan
Operations plan
Financial plan
Location
Products offered
History
Which statement of the following relates with the ultimate goal of Business
Profit Statement
Goal Statement
Mission Statement
Vision Statement
Economy
Material price
Inflation
Fuel price
Partnership firm
Sole Proprietor
Investors usually prefer the income statement which projects the sales volume of _____ years
1
2
Which one of the following responds to the question of: “Where do we want to go?” and specify things such as
market share, profits, sales, market penetration etc.?
Mission statement
Vision statement
Which variable of the following has the critical decisions of media alternatives, message, role of personal
selling, media budget and coupons, etc?
Product
Price
Channel of Distribution
Promotion
What is the primary concern of founders who trade equity for capital for their growing
venture?
Capitalization
Investor capabilities
Valuation
Control
All of the following are the major components of any research and development partnership EXCEP
Contract
Sponsoring company
Tax shelter
Limited partnership
Which statement of the following relates with the ultimate goal of Business
Profit Statement
Goal Statement
Mission Statement
Vision Statement
S Corporation
Limited Partnership
Sole Proprietor
On the part of entrepreneur which of the following has/ have a great concern to the
Investors
Experience
Commitment
Knowledge
Product development
Test marketing
Commercialization
According to the governing bodies of common laws, the life of trade secret is:
12 years
17 years
20 years
As long as it remains confidential (Right Answer)
Which one of the following depends on the type of production system but is
designed to make sure that the product performs satisfactorily?
Select correct option:
Inventory control
Quality control
Sales control
Production control (Right Answer)
Innovation
Graphics
Products
Interviewing
Focus group (Right Answer)
Questionnaire
Observation
Which one of the following has the critical decisions of materials, style, features,
options, brand name, packaging, sizes and warranties?
Product
Price
Channel of distribution (Right Answer)
Promotion
Real estates
Lease
Rentals
All of the given options (Right Answer)
Which one of the following best describes the flow of goods and services from
production to the customer?
Organizational plan
Marketing plan
Operations plan (Right Answer)
Financial plan
Double taxation
Centralized Management
Disposable income
Unemployment
The marketing perspective of business plan considers the venture through the
eyes of:
Investor
Customer(Right Answer)
Entrepreneur
Marketing manager
Which one of the following is the method of developing new idea through a
thought process progression?
Synetics (Right Answer)
Heuristics
Forced relationships
Value analysis
Which one of the following plans should contain control points to ascertain
progress and to initiate contingency plans if necessary?
Financial plan(Right Answer)
Marketing plan
Business plan
Operational plan
Which of the following includes duties, purpose, responsibilities, scope and
working conditions of a job along with the job’s title and the designation of the
person to whom the employee reports?
Job design
Job specification
Job description(Right Answer)
Job analysis
Hiring a manager
Engaging an attorney (Right Answer)
Developing a product
Proprietorship
Partnership
S corporation
All the given options (Right Answer)
By telephone
Face to face
Online
Newspaper (Right Answer)
Which one of the following is the systematic assembly of all the facts about a job?
Job Specification
Job Description
Job Identification
Job Analysis
Networking
Trade associations
Recent publication
All of the above
1
2
3
4
New regulations
Competition
Social changes
Manufacturing
GNP\
Disposable income
Which one of the following is an important source of idea generation due to their
Federal government
Consumers
3
4
Which one of the following plans should contain control points to ascertain
progress and to initiate contingency plans if necessary?
Financial plan
Marketing plan
Business plan
Operational plan
Real estates
Lease
Rentals
All of the given options
Select individuals who can work with a diverse group and will commit to the
venture's mission
Select candidates who will show good judgment in business decision making
All of the given options
Short-term assets
Cash
Fixed assets
Inventory
SBA provides:
1
2
On the part of entrepreneur which of the following has/ have a great concern to
the Investors
Experience
Commitment
Knowledge
All of the above
Before leaving his job as a brand manager for a leading toy manufacturer in
France, John smith was
11 Agencies
12 Agencies
13 Agencies
3
4
Before setting the product price, which of the following elements the entrepreneur
needs to consider?
Costs
Markups
Competition
Which of the following is the most important for the entrepreneur, while starting a
new venture, to make an assessment of?
Risk
Profit
Market
Competitors
The Internet.
Spreadsheet program.
Graphics program.
Market size
Suppliers
Economic conditions
All the given options
The creative process for problem solving that involves making the strange
familiar in first
step and then making the familiar strange through personal, direct or symbolic
analogy is
called:
Synectics
Gordon method
Checklist method
Scientific method
Consultants
Engineers
SBA loans
Commercial bank loans
SBA microloans
Partnership
Sole proprietorship
Job Description
Job Specification
Job identification
Which of the following plans help to provide an organization chart indicating the
lines of
authority?
Physical
Business
Organizational
Marketing
On the part of entrepreneur which of the following has/ have a great concern to
the
Investors
Experience
Commitment
Knowledge
All of the above
Brain storming
Reverse brainstorming
SPCC
SMEDA
SBFC
FMBC
Heuristics
Forced relationship
Scientific method
Value analysis
Which of the following term is used to identify, "what the job holder does"? "how it is
done"? & "why it is done"?
► Job specification ► Job evaluation ► Job description ► Job title
Which of the following term is used to identify the physical & mental skills, required to
perform by an individual within a particular position in an organization?
► Job title ► Job specification ► Job description ► Job evaluation
“A person is known by the company he/she keeps”; is well described by which of the
term?
Which of the following abilities are categorized as the Technical skill of an individual?
► Judgment & creativity ► Analysis & communication
► Knowledge & proficiency ► Innovation & advancement
The intellectual & mechanical process used by an organization to transform inputs into
outputs is termed as:
► Task ► People ► Structure ► Technology
Under which of the following authority, an HR manager took the decision to provide
training to its employees regarding the operations of newly installed machine?
► Staff ► Functional ► Line ► Implied
'There is no need to make any new appointment'; therefore, the organization has
transfered Mr. Azam to another branch. This step of the organization is taken to:
► Increase the labor supply than demand
► Maintain the balance of labor supply and demand
► Decrease the labor supply than demand
► Devastate the balance of labor supply and demand
Previous company records & customer satisfaction surveys may serve as a source for:
► Cultivating learning culture within the organization
► Determining deficiencies that require training
► Developing career development plans for employees
► Identifying training outcomes through evaluation
Which of the following are the groups of social nature that are formed around friendship
and common interests?
Jamal Enterprises' top management refused to consider its female marketing manager
for the post of Vice President. This action of the company is representing which of the
following?
► Gender discrimination ► Legal consideration
► Reverse discrimination ► Glass ceiling effect
The number of people hired for a particular job compared to the number of individuals in
the applicant pool is often expressed as:
The extent to which an employment selection test provides consistent results is known
as:
► Reliability ► Dependability ► Consistency► Trustworthiness
Which of the following test indicates the person’s inclination towards a particular
occupation that provides satisfaction to that individual?
All of the following areas are covered in an employee orientation program, EXCEPT:
► Organizational history ► Employee benefits
► Organizational issues ► Organizational politics
Which of the following term reflects the process of preparing organizational people
according to the future needs?
► Learning ► Training ► Development ► Need analysis
Which of the following term best represents the individuals who have interests in an
organization and are influenced by it?
Mr. Ahmed was working as a computer operator, but he was unable to work in Ms Excel
with the required speed. Due to this reason management has forcefully retired him &
appointed a new person to replace him, the company is said to be indulged in:
► Rightsizing ► Affirmative action ► Downsizing ► Discrimination
“Self-motivated & result oriented individuals with sound knowledge of combined cycle
gas turbine power plant operations and practical experience of mechanical, electrical and
I&C maintenance of plant.”
This section of job advertisement represents which of the given term?
How hesitation among newly hired employees can be eliminated through socialization
within an organization?
Socialization: In order to reduce the anxiety that new employees may experience,
attempts should be made
to integrate the person into the informal organization.
Which of the following defines the levels of authority to perform the assigned tasks?
The actions of people at work place are studied under which of the following discipline?
Which of the following is served as criteria for declaring a particular job as worth-full?
The thorough & detailed study regarding jobs within an organization is termed as:
Which of the following term describes the unique combination of psychological traits that
describes a person’s behaviors?
Which of the given statement reflects the Relationship between HRM & Management?
The intellectual & mechanical process used by an organization to transform inputs into
outputs is termed as:
Under which of the following authority, an HR manager took the decision to provide
training to its employees regarding the operations of newly installed machine?
The best hiring occurs when the goals of which of the following should consistent to each
other?
The process by which people acquire skills & abilities required to perform jobs at hand, is
known as:
► Learning ► Training ► Development ► Need analysis
Which of the following department is responsible for handling safety & health issues of
employees?
Organizations started giving more focus on the quality of work life (QWL) during:
Which of the following information is NOT collected through observation method while
conducting job analysis?
Which of the following method is used to inform employees about the company's job
openings?
Which of the following is a test validation method that determines whether a test
measures certain traits that are important in performing a job or not?
During which of the following interview, an interviewer asks probing and open-ended
questions?
Which of the following source can be used to ensure the authentication of the
information provided by the job applicant?
All of the following areas are covered in an employee orientation program, EXCEPT:
The mental process to interpret environment as per one's own understanding is known
as:
Which of the following act represents a situation in which employment decisions are NOT
affected by illegal discrimination?
There are several sources that can identify the training needs. List & explain any five of
such sources.
Decision regarding the delivery medium for training is made prior to which of
the following step?
In order to appoint a lecturer for management, the senior faculty asked Mr. Ali
to deliver a sample lecture to one of the MBA batch. The evaluation form is
provided to students to grade Mr. Ali as a competent teacher in terms of his
communication & convincing abilities. What type of test is said to be conducted
for the evaluation of Mr. Ali?
► Keep pool of large size to get best out of it► Address personnel needs of
applicants
► Meet economies of scale for an organization► Clearly understand organizational goals
Which of the following identifies the minimum acceptable qualification that the
incumbent must possess to perform a particular job successfully?
People within a group who initiate the work, give new ideas and also collect
information about the task, are actually performing:
► Information collector roles ► Task oriented roles
► Relationship oriented roles ► Individual roles
Which of the following skills are required most by the Top-level managers?
► Technical skills ► Interpersonal skills ► Conceptual skills► All of the given
Which of the following aspect should be considered during task analysis, before
conducting the training in an organization?
► Individuals who require training ► Shortcomings in existing technology
► Ineffective feedback system of organization ► Areas where training is required
________ team allows groups to meet without concern for space or time and
enables organizations to link workers together.
Managers who are indulged in establishing policies & procedures are fall under
which category?
Which of the following term best represents the individuals who have interests
in an organization and influenced by it?
►5 ►3 ►8 ►4
The ability to think about abstract & complex situations is refered to as:
Which of the following terminology describes the legal legislation in which job
applicant should not be rejected on the basis of discriminatory practices?
Which of the following emerged when individuals realized the strength they
could gain by joining together to negotiate with employers?
► Trade unions ► Human relation movement► Employment legislations ►None of
Achievable & quality performance standards can be set with the help of
accurate:
VALUES: Values are the basic conviction about what is right and wrong.
ETHICS: Ethics are the rules and principles that tell what is right and wrong.
► Job evaluation
► Job description
► Job title
Question No: 3 ( Marks: 1 ) - Please choose one
Which of the following term is used to identify the physical & mental skills,
required to perform by an individual within a particular position in an
organization?
► Job title
► Job specification
► Job description
► Job evaluation
► Job analysis
► Job specification
► Job worth
► Job description
► Upgraded technology
► Human mind
► Competitors' pressure
► Prejudice
► Stereotype
► Introversion
► Extroversion
► Operational skills
► People
► Structure
► Technology
Question No: 11 ( Marks: 1 ) - Please choose one
Under which of the following authority, an HR manager took the decision to
provide training to its employees regarding the operations of newly installed
machine?
► Staff
► Functional
► Line
► Implied
► Hereditary testing
► Gene testing
► Instinct testing
► Genetic testing
Socialization: In order to reduce the anxiety that new employees may experience,
attempts should be made
to integrate the person into the informal organization.
Permalink Reply by + M.Tariq Malik on May 10, 2012
at 5:54pm
UMAIR SID ……………………… SOLVED BY SID
MIDTERM EXAMINATION
Spring 2010
MGT501- Human Resource Management (Session - 2)
Which of the following skills are required most by the Top-level managers?
Organizations started giving more focus on the quality of work life (QWL)
during:
Which of the following test can best evaluate the routine production activities
of job that require coordination & physical strength?
In order to appoint a lecturer for management, the senior faculty asked Mr. Ali
to deliver a sample lecture to one of the MBA batch. The evaluation form is
provided to students to grade Mr. Ali as a competent teacher in terms of his
communication & convincing abilities. What type of test is said to be conducted
for the evaluation of Mr. Ali?
For the post of CCR in a call center, candidate has passed the usual selection
criteria- the employment test, interview and background checks. What should
be the next step?
► To verify educational documents ► To pass screening interview
► To complete application blank ► To give him appointment letter
SOLVED
Contingent workers:
Defiant ion:” workers or employee who are hired in a organization for temporary or for a
short time called contingent workers”
Significance of such workers for an organization:
Easy to complete tasks:
Technically skilled:
Not required to give them High bounces:
May be Consultant:
Over all we can say this methodology may lead not poor or Garbage.
Permalink Reply by + M.Tariq Malik on May 10, 2012
at 5:55pm
Jumair sid J
MIDTERM EXAMINATION
Decision regarding the delivery medium for training is made prior to which of
the
following step?
Which of the following identifies the minimum acceptable qualification that the
incumbent must possess to perform a particular job successfully?
People within a group who initiate the work, give new ideas and also collect
information about the task, are actually performing:
Which of the following skills are required most by the Top-level managers?
Managers who are indulged in establishing policies & procedures are fall under
which category?
Which of the following term best represents the individuals who have interests
in an
organization and influenced by it?
► Workforce ► Stakeholders ► Customers ► Stockholders
Who collects information from institutions & organizations outside their own,
and facilitate the organizational personnels with that gathered information?
►5 ►3 ►8 ►4
The ability to think about abstract & complex situations is refered to as:
Which of the following terminology describes the legal legislation in which job
applicant should not be rejected on the basis of discriminatory practices?
Which of the following emerged when individuals realized the strength they
could gain by joining together to negotiate with employers?
► Trade unions ► Human relation movement
► Employment legislations ► None of the given options
Achievable & quality performance standards can be set with the help of
accurate:
ANSWER:
VALUES: Values are the basic conviction about what is right and wrong.
ETHICS: Ethics are the rules and principles that tell what is right and wrong.
Reply by + Aqib on February 24, 2015 at 9:10am
Which one of the following should consider in economy while conducting environmental analysis?
Select correct option:
GNP
Disposable income (Tariq)
Unemployment
Channel of distribution
future of the new venture depends on the ________. Select correct option:
Positive Cash flow (shafia)
Employees loyalty
Business ideas
Economy
following has NO liability on the part of entrepreneur business? Select correct option:
Partners
Board of advisors
Shareholders (shafia)
Board of directors
Which of the following ratio will be helpful for assessing the firm’s capital structure?
Select correct option:
Current ratio
Acid test ratio
Profitability ratio
Debt to equity ratio (MK)
page no 100 :Debt to equity ratio assesses the firm’s capital structure. It provides a measure of risk by
considering the funds invested by creditors and investors.
Licensing
Management contracts
Direct export (MK)
Turnkey projects
Pgae no 31 Lesson 11
Which of the following is essential if your business deals with the Paper production?.
Select correct option:
Operational Plan
Bank loan
Production plan (MK)
Organizational plan
Page 58
If a new venture is a manufacturing operation, a production plan is necessary. This plan should describe the
complete manufacturing process, including whether or not the process is to be subcontracted.
The startups which rarely go public are called: Select correct option:
Life style
Foundation Company (MK)
Small company
High potential venture
page no 8 : A type of company formed from research and development that usually does not go public. This
firm can grow in five to ten years from 40 to 400 employees.
following factor can create the managerial difficulties in the joint ventures between foreign companies? Select
correct option:Cultural differences (MK)
Economic policies
Public ignorance
Government taxes
Page no 103 : Cultural differences can create managerial difficulties. Government policies sometimes can
have a negative impact on the venture. The benefits usually outweigh the drawbacks.
________ is commonly used to measure the short-term solvency of the venture? Select correct option:
Debt to equity ratio
Current ratio (MK)
Profitability ratio
Activity ratio
Page no 99 : Current ratio is commonly used to measure the short-term solvency of the venture or its ability to
meet its short-term debts.
Which of the following is NOT a characteristic of a marketing plan? Select correct option:
It should be flexible
It should be long and detailed (MK)
It should be based on facts and valid assumptions
it should provide a strategy
Which of the following is the best option for starting the business with equity financing? Select correct option:
Sole Proprietor
Corporation (doubted) mk
Partnership firm
None of the above
Page 81 : Equity financing offers the investor some form of ownership position in the venture.
a. The investor shares in the profits of the venture.
b. Key factors in choosing the type of financing are availability of funds, assets of the venture, and prevailing
interest rates.
c. Usually a combination of debt and equity financing is used.
NWFP (glory)
Sindh
Punjab
Balochistan
ref at pg 84 under training center heading lec 37
Which one of the following is a method for obtaining new ideas and solutions by focusing on problems?
Select correct option:
Goodwill
Skilled employees
Favorable location
Political instability (umeed)
The private investors are primarily interested in recovering his/her investment plus a good________.
Select correct option:
Dividend
Shares prices
Rate of return (umeed)
Business repute
The creative process for problem solving that involves making the strange familiar in first step and then
making the familiar strange through personal, direct or symbolic analogy is called:
Select correct option:
Synectics (glory)
Gordon method
Checklist method
Scientific method
ref at pg 35 lec 16 under creative problem heading
20 NOV 2011
Leave a Comment
The resistance of employees in an organization against flexibility, growth, and diversification can be
overcome by developing:
Entrepreneurship
Intrapreneurship
Managerial domain
Administrative domain
Limitless
Generalized
Specific
Imaginary
Normally sponsor links are used in which of the following type of promotion?
Publicity
Trade shows
Personal selling
Internet advertising
The Grameen Bank model is affectively used by which of the following institute?
Education sector
Finance Sector
Rural Sector
NGOs
Which one of the factors should be considered while assessing the space for business?
Parking
Delivery rates
_________.
Earliest period
Middle ages
17th century
Provident fund
Income Tex
Insurance
Zakat
S Corporation
Limited Partnership
Sole Proprietor
Internet
Focus Group
Interview
Observation
Which two work environments should be good for spawning the new enterprises?
Marketing and IT
Which one of the following should consider in economy while conducting environmental analysis?
GNP
Disposable income
Unemployment
Channel of distribution
Current ratio
Profitability ratio
Activity ratio
Which one of the following is a barrier to new product creation and development?
Opportunity cost
Intrapreneurship culture
A specific group of potential customers toward which a venture aims its marketing plan
No particular standard
Which one of the following is the process of entrepreneurs developing new products that over time make
current products obsolete?
Creative destruction
Anatomization
Government
Finance
Role models
Which one of the following gives suggestions for new product but also helps to market
Distribution channels
Federal government
Consumers
The chief motivational factor for _________________ entrepreneurs to leave jobs is the frustration of not
being allowed to perform at the level of which they are capable.
Male
Female
Young
Which of the following is the most important for the entrepreneur, while starting a new
Risk
Profit
Market
Competitors
An entrepreneur doing business within the national border is called:
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
According to the governing bodies of common laws, the life of trade secret is:
12 years
17 years
20 years
Indirect exporting
Direct exporting
Importing
Management contract
Entrepreneurship
Intrapreneurship
1
2
3
4
Which one of the following is an important source of idea generation due to their
Federal government
No Profit no lose
Real State
Shares
Tangible property
The difference in the entrepreneurial and managerial domains has contributed towards an increase
interest in:
Partnership
Intrapreneurship
Private firms
Photos of invention
Cover letter
Personal affiliations
Mentor
Trade associations
Friends
It should be flexible
Locus of control
Locomotion of control
Locust of control
Loss of control
Normally sponsor links are used in which of the following type of promotion?
Publicity
Trade shows
Personal selling
Internet advertising
Which of the following is essential if your business deals with the Paper production?.
Operational Plan
Bank loan
Production plan
Organizational plan
New technology
Manufacturing
Marketing
Personnel
The longest lasting trade agreement with the objective of liberalizing trade by eliminating
European community – EC
Pharmaceutical
Service venture
Online venture
Auto industry
SPCC
SMEDA
SBFC
FMBC
Commitment to opportunity
Commitment of resources
Control of resources
Strategic orientation
Which of the following are the key factors for choosing the type of financing?
Availability of funds
The difference between the value of a country’s imports and exports over time is called:
Deficit exports
Deficit imports
Balance of payment
Balance of debt
Business
Marketing
Financial
Operational
Which one of the following method shows the term which is related to starting from
Incremental method
Which is one of the most important leadership qualities among managers and employees
in the organization?
Entrepreneurship
Communication
Motivation
Staffing
Official Gazette
Foundation firm
Life style
Public company
Which of the following is representing a single expense account?
Depreciation
Cash account
Utilities account
Which one of the following is a barriers to new product creation and development?
Opportunity parameter
Opportunity cost
Intrapreneurship culture
1
2
3
4
Which one of the following is important for international business to avoid trade barriers?
Protectionist attitude
Entrepreneurial partnering
Which of the following ratio will be helpful for assessing the firm’s capital structure?
Current ratio
Profitability ratio
Licensing
Management contracts
Direct export
Turnkey projects
15 and 22
22 and 45
45 and 57
57 and 63
Location
Products offered
History
Companies identify their assets with the date of purchase, because it can be helpful in
Goodwill
Trade rebate
Tax purposes
Capital structuring
What is the primary concern of founders who trade equity for capital for their growing
venture?
Capitalization
Investor capabilities
Valuation
Control
The creative process for problem solving that involves making the strange familiar in first
step and then making the familiar strange through personal, direct or symbolic analogy is
called:
Synectics
Gordon method
Checklist method
Scientific method
Capital rising entirely depends on the entrepreneur in which of the following entity?
Corporation
Sole Proprietorship
Partnership
Impartial partnership
General partnership
Royalty partnership
Minor partnership
Selling goods to another country through a person in the entrepreneur’s home country is known as:
Trading
Direct export
Indirect export
Domestic sales
Heuristics
Forced relationship
Scientific method
Value analysis
What can be the effect on cash flows due to delays in payments by the clients?
First Year
Entrepreneurs
Consultants
Engineers
The former USSR received technology and syrup from Pepsi and provided it with Soviet
Economic development
Barter system
Balance of payment
International trade
Ten participants
In which of the following year implementation of SBA Financial plan took place?
1971
1972
1973
1974
Easily available
Difficult to obtain
Very useful
Very cheap
Personal relationship
Formal Way
Informal Way
Problemat way
oriented organization?
Corporate culture
Entrepreneurial culture
Intrapreneurial culture
Traditional culture
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 Individuals who help the entrepreneur in business
activities are called:
► Role models
Question No: 3 ( Marks: 1 ) – Please choose one Following are the problems in developing the
economies EXCEPT:
► Gap of knowledge
Question No: 4 ( Marks: 1 ) – Please choose one Which one of the following is a business
arrangement in which someone else is allowed
► Patent
► Trade mark
► Copy right
► Licensing
Question No: 5 ( Marks: 1 ) – Please choose one Which of the following method entrepreneur can use
to do international business with
least risk?
► Turnkey projects
► Joint venture
► Merger
► Synergy
Question No: 6 ( Marks: 1 ) – Please choose one Combination of at least two firms at different market
levels is called:
► Joint venture
► Synergy
► Horizontal merger
► Vertical merger
Question No: 7 ( Marks: 1 ) – Please choose one A patent is granted for a specified amount of time
because of the assumption:
► That during this time firm will cover its development costs
Question No: 8 ( Marks: 1 ) – Please choose one A/an ______ is an online connection between the
company and its customers.
► Internet advertising
► Website
► E-Commerce
Which one of the following is the next stage to the Concept Stage of Product Planning
► Idea Stage
Question No: 10 ( Marks: 1 ) – Please choose one Which of the followings give the owners a negative
right, preventing anyone from
► Patent
► Copyright
► Trade mark
► Trade secret
Question No: 11 ( Marks: 1 ) – Please choose one Which one of the following is a longest lasting trade
agreement with the objective of
► European community – EC
Question No: 12 ( Marks: 1 ) – Please choose one Which of the following grants protection to owner
from anyone else making, using and selling the identified innovation?
► Utility patent
► Design patent
► Plant patent
► International patent
Question No: 13 ( Marks: 1 ) – Please choose one Which one of the followings statements is NOT true
about trademarks?
► The entrepreneur can not file after the mark already been in use
► The filing date for the trademark becomes the first date use of the mark
Question No: 14 ( Marks: 1 ) – Please choose one According to the governing bodies of common
laws, the life of trade secret is:
► 12 years
► 17 years
► 20 years
► Lack of experience
► Limited resources
► Lack of education
Question No: 16 ( Marks: 1 ) – Please choose one Which one of the following protects continuity of
the business(specially in
partnership)?
► Property insurance
► Casualty insurance
► Life insurance
► Bonding
Question No: 17 ( Marks: 1 ) – Please choose one A legally binding agreement between two parties is
called:
► A contract
► Licensing
► Insurance
► A copyright
Question No: 18 ( Marks: 1 ) – Please choose one Information regarding all of the following is related
to operations, EXCEPT:
► Location
► Promotion
► Raw materials
► Labor skills
Question No: 19 ( Marks: 1 ) – Please choose one Which of the following is NOT studied in industry
analysis?
► Economic conditions
► Technology advancements
► Organizational culture
► Legal concerns
Question No: 20 ( Marks: 1 ) – Please choose one Which one of the factors should be considered
while assessing the location for
business?
► Parking
► Delivery rates
Question No: 21 ( 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: 22 ( Marks: 1 ) – Please choose one Which of the following is a characteristic of a good
partner?
Question No: 23 ( Marks: 1 ) – Please choose one Having more than 50% ownership position that
provides the entrepreneur with
managerial control is called:
► Joint venture
► Majority interest
► Horizontal merger
Question No: 24 ( Marks: 1 ) – Please choose one Which one of the following is a sound strategic
option for an entrepreneur when
synergy is present?
► Merger
► Joint venture
► Minority interest
► Majority interest
Question No: 25 ( Marks: 1 ) – Please choose one Which of the following is a method of selling goods
to another country by taking care
of transactions?
► Indirect exporting
► Direct exporting
► Importing
► Management contract
Question No: 26 ( Marks: 1 ) – Please choose one Following are the types of non-equity
arrangements EXCEPT:
► Licensing
► Management contracts
► Direct export
► Turnkey projects
Question No: 27 ( Marks: 1 ) – Please choose one Andrew Carnegie is an example of entrepreneur of
which century:
► Earliest period
► Middle ages
► 17th century
Question No: 28 ( Marks: 1 ) – Please choose one A person who managed large project was termed
as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
Question No: 29 ( Marks: 1 ) – Please choose one In some countries, point of purchase displays are
not allowed in retail stores. Such
► Economic Environment
► Political Environment
► Cultural Environment
► Technological Environment
► Finance
► Marketing
► Government support
► Family support
Question No: 31 ( 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: 33 ( Marks: 1 ) – Please choose one The intersection of knowledge and a recognized
social need to start a product
► Iterative synthesis
► Product-evolution process
► Ordinary innovation
► Situation analysis
Question No: 34 ( Marks: 1 ) – Please choose one A foundation company is formed through which of
the following?
► Fashion
► A winding up company
► Entrepreneurship
► Hyper competition
► Governmental laws
► Organizational culture
Question No: 38 ( Marks: 1 ) – Please choose one Individuals influencing an entrepreneur’s career
choice and style are known as which of
the following?
► Role model
► Moral-support network
► Support system
Question No: 39 ( Marks: 1 ) – Please choose one An entrepreneur is also successful in international
business as well if he understands:
► Domestic business
► International business
Question No: 40 ( Marks: 1 ) – Please choose one Which of the following is NOT an important aspect
of international success?
► Planning
► Diversification
► Reporting
► Control
Question No: 41 ( Marks: 5 ) What is meant by role models? What role do they perform?
MIDTERM EXAMINATION
Spring 2009
Time: 60 min
Marks: 50
► Locus of control
► Risk taking
Which one of the following is a business arrangement in which someone else is allowed
► Patent
► Trade mark
► Copy right
► Licensing
Which of the following method entrepreneur can use to do international business with
least risk?
► Turnkey projects
► Joint venture
► Merger
► Synergy
A company dealing in beer has a merger with cigarettes manufacturing firm. This merger
is called:
► Horizontal merger
► Vertical merger
Which one of the following is an important source of idea generation due to their
► Distribution channels
► Federal government
► Consumers
Members of distribution channels are excellent sources for new ideas because:
► They are familiar with the needs of the market
business websit?
► Speed
► Innovation
► Graphics
► Products
According to the governing bodies of common laws, the life of trade secret is:
► 12 years
► 17 years
► 20 years
► Location
► Promotion
► Raw materials
► Labor skills
Which one of the following guide the firm through the long term decision making?
► Mission statement
► Product forecast
► Industry analysis
► Location
► Products offered
► History
► Poems
► Models
► Brainstorming
► Reverse brainstorming
► Synoptic
The transitional disturbance and lack of reform has led to a booming black market in:
► China
► Hungary
► Singapore
► Poland
► Central Asia
► Transition economies
Which one of the following gives suggestions for new product and also help to market
new products?
► Distribution channels
► Federal government
► Consumers
► Merger
► Joint venture
► Majority interest
► German leadership
► French leadership
► U.S. leadership
► U.K. leadership
Question No: 24 ( Marks: 1 ) – Please choose one
► Middle ages
► 18th century
► 17th century
A person who managed large project was termed as the entrepreneur in the _________.
► Earliest period
► Middle ages
► 17th century
► Finance
► Marketing
► Government support
► Family support
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
► Business model
► Modeling
► Innovation
► Creative flexibility
following?
► Periodic intervals
► Entrepreneurship
► Entrepreneurship
► Insufficient capital
► Unstable market
► Insufficient experience
► Poor entrepreneurship
► Administration
► Utilities
► Manufacturing
► Locus of control
► Locomotion of control
► Locust of control
► Loss of control
Individuals influencing an entrepreneur’s career choice and style are known as which of
the following?
► Role model
► Moral-support network
► Support system
The activity which occurs when the new venture is started is called:
► Motivation
► Business skills
► Departure point
► Goal orientation
a. To make money
b. To be independent
c. To be famous
d. To be powerful
a. Money
b. Luck
c. Hard work
d. A good idea
a. Managers
b. Venture capitalists
c. Planners
d. Doers
4. A successful entrepreneur relies on which of the following for critical management advice
c. Financial sources
d. No one
5. Entrepreneurs are:
d. Doesn’t matter
a. Service businesses
b. Manufacturing companies
c. Constructive companies
d. A variety of ventures
7. Entrepreneurs:
d. Are in conflict
a. Spouse
b. Mother
c. Father
d. Children
a. Teens
b. Twenties
c. Forties
d. Fifties
e. Understanding environment
g. Several pitfalls
7. A horizontal merger is
in same area
different areas
e. Idea stage
f. Concept stage
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.
c) Vertical Merger
4. One of the most frequent reasons an entrepreneur forms a joint venture is to share the
________________.
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
a) Simplicity Sue
b) Shotgun Sam
d) Inventor Irving
8. One study found that the typical minority business owner was the
unknown.
unknown.
c) Intrapreneurship d) Management
a) Entrepreneurship culture
b) Corporate culture
c) Intrapreneurial culture
_____________ years.
of____________ years.
16. The ________________ is the process through which innovation develops and
commercializes through entrepreneurial activity, which in turn stimulates economic growth.
a) Product-evolution process
b) Technological innovations
c) Breakthrough innovations
d) None of the given options
17. A____________________ is a type of company formed from research and development that
usually does not go public.
a) Foundation
b and c
18. _________________ involve such things as writing, listening, oral presentations, coaching
and technical know-how.
c) Technical skills
c) Personal values
d) Ethics
a) Moral value
b) Act
c) Motivation
entrepreneur is known as
a. Disclosure document
b. Patent
c. Intellectual property
without_________
b. Employees
c. Workers
a. Entrepreneurial domain.
c. Heuristics
4. A trademark is
goods.
6. locus of control is
e. A feeling
f. Attitude
g. Attribute
k. Several pitfalls
i. Understanding environment
9. International entrepreneurship is
a. Licensing
b. Exporting
a. Self-esteem
b. Caution
c. Drive
a. Synergy
b. Turn key point
c. Trade barrier
d. Minority interest
m. To make money
n. To be independent
o. To be famous
p. To be powerful
i. Money
j. Luck
k. Hard work
l. A good idea
management advice
k. Financial sources
l. No one
m. Service businesses
n. Manufacturing companies
o. Constructive companies
p. A variety of ventures
7. Entrepreneurs:
l. Are in conflict
9. An entrepreneur’s primary motivation for high ego and need for achievement is based upon a
relationship with:
i. Spouse
j. Mother
k. Father
l. Children
10. An individual usually begins his or her first significant entrepreneurial business enterprise at what
age
i. Teens
j. Twenties
k. Forties
l. Fifties
q. Understanding environment
s. Several pitfalls
in same area
different areas
m. Idea stage
n. Concept stage
Motivation
Role models
Professional-support network
Parents
None of the mentioned options
royalty
Licensing
Turn-key projects
Management contracts
behavior is
known as _____________.
a. Values
b. Vision
c. Entrepreneurship
d. Motivation
ideas?
a. Focus group
b. Brain storming
d. Reverse brainstorming
3. The creative process for problem solving that involves making the
strange familiar in first step and then making the familiar strange
a. Synoptic
b. Gordon method
c. Checklist method
d. Scientific method
a. Go for mergers
b. Diversify
c. Decentralize operations
5. An entrepreneur into the hosiery business found out the reason his
hosiery was not selling was due to its color. What could be the best
a. Supplier
b. Retailer
c. Competition
d. Government bureau
a. European countries
b. Asian countries
c. Transition economies
d. Middle east
manufacturing technology
and infrastructure and yet do not want to turn over substantial portion
of their
this dilemma?
a. Management contract
b. Indirect exporting
c. Licensing
d. Turn-key project
often requires
________.
a. Expertise of an entrepreneur
Solution No. 1
Easily available
Difficult to obtain
Very useful
Very cheap
Foundation firm
Life style
Public company
Which of the following statements about the intrepreneurial climate is (are) true?
Partnership
Intrapreneurship
Private firms
Periodic intervals
Understands environment
Not flexible
Persistent
Government
Finance
Role models
The activities which occur when the new venture is started are called:
Motivation
Goal orientation
Departure point
Business skills
Creative
Conceptualization
Understanding environment
15 and 22
22 and 45 22 55
45 and 57
57 and 63
Which of the following factors does not affect a person for being an
entrepreneur?
Family background
Education
Personal values
Gender
jobs is the frustration of not being allowed to perform at the level of which they
are capable.
Male
Female
Young
The activities which occur when the new venture is started are called:
Motivation
Goal orientation
Departure point
Business skills
Understands environment
Not flexible
Persistent
Life style
Foundation Company
Small company
Investor
Marketer
Entrepreneur
Consultant
Which one of the following culture that has a climate and reward system that
Entrepreneurial
Intrapreneurial
Corporate
Which one of the following is the fourth step in the entrepreneurial process?
Developing successful business ideas
All of the following are the broad categories of External forces EXCEPT:
Economic forces
Socioeconomic forces
Technological forces
Competitive forces
Self employed
Discouraged
Non supportive
Strict
Finance
Technology
Infrastructure
Subsidiaries
The decision to start a new business is taken when one perceives that forming a
Possible
Desirable
Accurate
Both a and b
Motivation
Business skills
Goal orientation
An entrepreneur into the hosiery business found out the reason his hosiery was
not selling was due to its color. What could be the best source of this
information?
Supplier
Retailer
Competition
Government bureau
of the following factors has allowed small companies to act like they are big
ones?
Competition
Economic development
Technology
Customers
Which two work environments should be good for spawning the new enterprises?
Marketing and IT
Foundation firm
Life style
Public company
entrepreneur?
Parents’ occupation
Which one of the following is required to develop a good team for creating
something new?
Open discussion
Landlords
Capitalists
Conservative parents
changes.
Management commitment
Technology
More productivity
Investor
Marketer
Entrepreneur
Consultant
EXCEPT:
Motivation
Business skills
Departure point
Goal orientation
Entrepreneurship.
A. Dynamic
B. Static
C. Continues
D. Systematic
A. Finance
B. Marketing
C. Govt Support
D. Family Support
Q #4: Which one of the following is the process of entrepreneurs developing new
A. Creative destruction
C. Anatomization
Q #6: Which one of the following is the primary cause of failure in small
businesses?
B. Poor location
C. Management mistakes
Q #7: Which one of the following is the first step in the entrepreneurial process?
process?
Q #9: The resistance of employees in an organization against flexibility, growth, and diversification can
be overcome by developing:
A. Entrepreneurship
B. Intrapreneurship
C. Managerial domain
D. Administrative domain
A. Commitment to opportunity
B. Commitment of resources
C. Control of resources
D. Strategic orientation
Q #11: Which of the following statements about the entrepreneurial climate is (are) true?
Q #12: Which of the following makes the formation of new venture difficult within corporate culture?
Q #13: Which of the following factors has allowed small companies to act like they are big ones?
A. Competition
B. Economic development
C. Technology
D. Customers
A. Independence
B. Achievement
C. Affiliation
D. Authority
C. Need of fame
Q #17: Which one of the following factors does not affect a person for being an entrepreneur?
A. Family background
B. Education
C. Personal Values
D. Gender
Q #20: Which one of the following is NOT TRUE about male entrepreneurs?
A. Males often have investors, bank loans, or personal loans in addition to personal funds
C. Men are often more confident and less flexible and tolerant
Plan Outline:
a. Mission
b. Objectives
c. Keys to Success
d. Company Ownership
e. Company History
3.0 Services
g. Service Description
h. Competitive Comparison
i. Sales Literature
j. Fulfillment
k. Technology
l. Future Services
m. Market Segmentation
i. Main Competitors
ii. Competition and Buying Patterns
o. Marketing Strategy
i. Promotion Strategy
p. Sales Strategy
i. Sales Programs
2. Organizational Structure
3. Appendix
Self employed
Discouraged
Non supportive
Strict
Which one of the following makes formation of new ventures within a corporate structure
difficult?
Lack of knowledge
Personal affiliations
Mentor
Trade associations
Friends
Risk taking
With a commercial history of only 300 years, which country was a new comer to
► Japan
► U.S
► China
► U.K
► Business expansion
► Complex transactions
► Uncontrollable factors
Which of the following techniques is an excellent method for initial screening
► Focus group
► Brain storming
► Reverse brainstorming
Which one of the following is a method for obtaining new ideas and solutions by
focusing on problems?
► Gordon method
► Checklist method
► Scientific method
The marketing perspective of business plan considers the venture through the
eyes of:
► Investor
► Customer
► Entrepreneur
► Marketing manager
► An offer is made
► An acceptance of offer
► Counter offer
► Consideration is given
Trade barriers cause:
► Increase in cost
► Decrease in cost
► Increase in profit
► Trading
► Direct export
► Indirect export
► Domestic sales
Which of the following is required for a company that wants to be more flexible
in adopting changes?
► Management commitment
► Technology
► More productivity
Which of the following typical culture has a climate and reward system that
► Entrepreneurial
► Intrapreneurial
► Corporate
Which of the following are known as barriers to new product creation and
development?
► Opportunity parameters
► Opportunity cost
► Intrapreneurship culture
► Increasing productivity
► Innovativeness
► Proactiveness
Which of the following factor does not affect a person for being an
entrepreneur?
► Family background
► Education
► Personal values
► Gender ??
The former USSR received technology and syrup from Pepsi and provided it with
Soviet vodka and rights to distribute it in the US. This is an example of:
► Economic development
► Barter system
► Balance of payment
► International trade
► International entrepreneurship
► Intrapreneurship
► Domestic entrepreneurship
► Employees
► Investors
► Advisors
► Joint venture
► Management contracts ??
► Minority interest
► Merger
Solved MCQs of Entrepreneurship (with proper reference and explanation)
Question No: 1
Which of the following shows the process of creating something new?
► Business model
► Modeling
► Innovation
► Creative flexibility
Reference:
(page # 4)
Innovation, the act of introducing something new,
Question No: 2
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
Reference & Explanation:
(Page # 39 of handouts)
Consumers Potential entrepreneurs should pay close attention to the final focal point of a new
product-the customer. This can be an informal or formal survey of consumers expressing their
opinions. Care should be taken to ensure that the idea represents a large enough market.
Existing Companies Entrepreneurs should establish a formal method for monitoring and evaluating
the products and services in the market. This may uncover ways to improve on present products,
resulting in new product ideas.
Distribution Channels
Members of distribution channels are also excellent sources for new ideas because they are familiar
with the needs of the market. Not only do channel members frequently have suggestions for new
product, but they can also help in marketing the entrepreneur’s newly developed products.
Federal Government
The federal government can be source of new product ideas in two ways. First the files of the Patent
Office contain numerous new product possibilities. Although the patents may not be feasible new
product introduction, they can suggest other marketable product ideas. Several government agencies
and publications are helpful in monitoring patent applications. Second new product ideas can come
in response to government regulations. For example the Occupational Safety and Health Act
(OSHA), aimed at eliminating unsafe working condition in industry, mandated that first aid kits be
made available in business establishments employing more than three people. The kit had to contain
specific item that varied according to the company and the industry. In response to OSHA, both
established and newly formed ventures marketed a wide variety of first aid kits.
Question No: 3
The GATT, as an international agreement, is a treaty. Under United States law it is classified as a
congressional-executive agreement. Based on the Reciprocal Trade Agreements Act it allowed the
executive branch negotiating power over trade agreements with temporary authority from Congress.
At the time it functioned as a provisional, but promising trade system.
(http://en.wikipedia.org/wiki/General_Agreement_on_Tariffs_and_Trade)
Question No: 5
What is the process by which individuals pursue opportunities without regard to resources
they currently control?
► Startup management
► Entrepreneurship
► Financial analysis
► Feasibility planning
Reference & Explanation:
Entrepreneurship is a process by which individuals - either on their own or inside organizations -
pursue opportunities without regard to the resources they currently control. (Stevenson & Jarillo,
1990, p. 23)
(http://findarticles.com/p/articles/mi_hb6648/is_n3_v19/ai_n28666393/)
Stevenson's definition would be as follows: The continuous process by which individuals pursue
opportunities without regard to resources they currently control, with the intent of increasing value
and/or advantage. I have made the underlined additions because entrepreneurship should never be
considered a single event. It is a continuing, non–ending process in search of increasing value and
ever increasing advantage.
(http://www.babson.edu/entrep/fer/papers97/mitton/mit6.htm)
Question No: 8
► Minority interest
► Joint venture
► Majority interest
► Exporting
Reference:
(page # 36)
Minority interest
Question No: 9
Having more than 50% ownership position that provides the entrepreneur with managerial
control is called:
► Joint venture
► Majority interest
► Horizontal merger
Reference:
(Page # 34)
Majority interest
Question No: 10 - (
Which one of the following is the process of entrepreneurs developing new products that over
time make current products obsolete?
► New business model
► Anatomization
► Creative destruction
► None of the given options
Reference :
Creative destruction occurs when something new kills something older. A great example of this is personal
computers. The industry, led by Microsoft and Intel, destroyed many mainframe computer companies, but in
doing so, entrepreneurs created one of the most important inventions of this century
(http://www.investopedia.com/terms/c/creativedestruction.asp)
(http://wps.prenhall.com/bp_barringer_entrep_1/29/7476/1913875.cw/content/index.html)
Question No: 11
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
Reference:
(page # 16)
Hyper competition has forced U.S. companies to focus on new product development and increased
productivity.
Question No: 12
The activity which occurs when the new venture is started is called:
► Motivation
► Business skills
► Departure point
► Goal orientation
Reference:
(Page # 23)
Departure points
The activities occurring when the venture is started
Question No: 15
The level at which an individual is viewed by society is called:
► Financial status
► Qualification
► Social status
► Achievement
Reference:
(Page # 25)
Social status
The level at which an individual in viewed by society
Question No: 16
Which one of the following is an important source of idea generation due to their familiarity
with the needs of market?
► Existing products and services
► Distribution channels
► Federal government
► Consumers
Reference & Explanation:
(Page # 39 of handouts)
Consumers Potential entrepreneurs should pay close attention to the final focal point of a new
product-the customer. This can be an informal or formal survey of consumers expressing their
opinions. Care should be taken to ensure that the idea represents a large enough market.
Existing Companies Entrepreneurs should establish a formal method for monitoring and evaluating
the products and services in the market. This may uncover ways to improve on present products,
resulting in new product ideas.
Distribution Channels
Members of distribution channels are also excellent sources for new ideas because they are
familiar with the needs of the market. Not only do channel members frequently have suggestions
for new product, but they can also help in marketing the entrepreneur’s newly developed products.
Federal Government
The federal government can be source of new product ideas in two ways. First the files of the Patent
Office contain numerous new product possibilities. Although the patents may not be feasible new
product introduction, they can suggest other marketable product ideas. Several government agencies
and publications are helpful in monitoring patent applications. Second new product ideas can come
in response to government regulations. For example the Occupational Safety and Health Act
(OSHA), aimed at eliminating unsafe working condition in industry, mandated that first aid kits be
made available in business establishments employing more than three people. The kit had to contain
specific item that varied according to the company and the industry. In response to OSHA, both
established and newly formed ventures marketed a wide variety of first aid kits.
Question No: 17
Members of distribution channels are excellent sources for new ideas because:
► They are familiar with the needs of the market
► They earn a handsome profit from new business
► They do not bother if entrepreneur bears a loss
► They have well-developed sales force
Reference & Explanation:
(Page # 39 of handouts)
Consumers Potential entrepreneurs should pay close attention to the final focal point of a new
product-the customer. This can be an informal or formal survey of consumers expressing their
opinions. Care should be taken to ensure that the idea represents a large enough market.
Existing Companies Entrepreneurs should establish a formal method for monitoring and evaluating
the products and services in the market. This may uncover ways to improve on present products,
resulting in new product ideas.
Distribution Channels
Members of distribution channels are also excellent sources for new ideas because they are
familiar with the needs of the market. Not only do channel members frequently have suggestions
for new product, but they can also help in marketing the entrepreneur’s newly developed products.
Federal Government
The federal government can be source of new product ideas in two ways. First the files of the Patent
Office contain numerous new product possibilities. Although the patents may not be feasible new
product introduction, they can suggest other marketable product ideas. Several government agencies
and publications are helpful in monitoring patent applications. Second new product ideas can come
in response to government regulations. For example the Occupational Safety and Health Act
(OSHA), aimed at eliminating unsafe working condition in industry, mandated that first aid kits be
made available in business establishments employing more than three people. The kit had to contain
specific item that varied according to the company and the industry. In response to OSHA, both
established and newly formed ventures marketed a wide variety of first aid kits.
Question No: 18
Which one of the following is the most important characteristic of a successful business
website?
► Speed
► Innovation
► Graphics
► Products
Reference:
(Page # 44)
A successful website has three characteristics: speed, speed, and speed. Short download time should be the
primary concern of website developers.
Question No: 19
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
Reference:
(Page # 45)
Product planning and development process
Generally divided into five major stages: idea stage, concept stage, product development stage, test marketing
stage, and commercialization stage
Question No: 20 (
1. Location
2. Manufacturing operations
3. Raw materials
4. Equipment
5. Labor skills
6. Space
7. Overhead
Question No: 23
In the administrative domain, the commitment of resources is for which of the following?
► Periodic intervals
► Total amount needed
► For certain tasks
► For long time
Reference:
Commitment of Resources
An entrepreneur is used to having resources at periodic intervals that are often based on certain tasks or
objects being reached. These resources, often acquired from others, are usually difficult to obtain, forcing the
entrepreneur to maximize any resources used. This multistage commitment allows the resource providers
(such as venture capitalist or private investors) to have as small an exposure as possible at each stage of
business development and to constantly monitor and track record being established. Even though the funding
may also be implemented in stages in the administrative domain, the commitment of the recourses is for the
total amount needed. Administratively oriented individuals respond to the resources of the rewards offered
and receive personal rewards by effectively administering the resources under this control.
(http://books.google.com/books?id=s01P0agnLPUC&pg=PA42&lpg=PA42&dq=In+the+administrative+domai
n,+the+commitment+of+resources+is+for+which+of+the+following&source=bl&ots=rCNwzs25w3&sig=08Td
nkl46ViZSrIM4ti5s0QNRPk&hl=en&ei=JLzFS4bNJY-
TsQadsJHBAQ&sa=X&oi=book_result&ct=result&resnum=1&ved=0CAYQ6AEwAA#v=onepage&q&f=false )
► Indirect exporting
► Direct exporting
► Importing
► Management contract
Reference:
(Page # 30)
Direct exporting through independent distributors or through one’s own overseas sales office is
another entry method. An independent foreign distributor directly contacts foreign customers and
takes care of all technicalities.
Reference:
(page # 7)
Gazelles
► Life style
► Foundation Company
Reference:
(page # 8)
A venture has high growth potential and therefore receives great investor interest. The company may
start out like a foundation company, but its growth is far more rapid. After five to ten years the
company could employ around 500 employees. These firms are also called gazelles and are most
important for the economic development of an area
Which of the following factor has allowed small companies to act like they are big ones?
► Technology
► Customers
► Economic development
► Competition
Reference:
(Page #21)
A company needs to use technology to make itself faster and more flexible. Technology has
allowed small companies to act like they are big ones. Large companies can use technology to
make them responsive and flexible
Solved Exam papers
MGT602 Entrepreneurship Final Term 2009 Solved by
Mehreen Humayun 2
View Comments
FINALTERM EXAMINATION
Spring 2009
MGT602- Entrepreneurship
Shared By Shahaan Zulfiqar
Solved by vuZs Team
Mehreen Humayun
www.vuzs.info
Time: 120 min
M - 80
Question No: 1 ( M - 1 ) .
There is an evidence that an entrepreneur usually has _______________ parents.
Self employed
Discouraged
Non supportive
Strict
Entrepreneurs tend to have self-employed fathers, and many also have entrepreneurial mothers.
Question No: 2 ( M - 1 ) .
Following are the problems in developing the economies EXCEPT:
Gap of knowledge
Variable rate of return
Same communication style
Different accounting system
There are still many difficulties in doing business in developing and transition economies due to:
a. Gaps in the knowledge of the Western system regarding business plans, marketing, and profits
b. Widely variable rates of return.
c. Non-convertibility of the ruble.
d. Differences in the accounting system.
e. Nightmarish communications.
www.vuzs.info
Question No: 3 ( M - 1 ) .
Which of the following techniques is an excellent method for initial screening of ideas and concepts?
Focus group
Problem inventory analysis
Brain storming
Reverse brainstorming
Focus groups:
· number of group members from 6-12
· Moderator focuses discussion of the group in a directive or nondirective manner.
· An excellent method for initially screening ideas and concepts.
Question No: 4 ( M - 1 ) .
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
Product planning and development process: Generally divided into five major stages: idea stage, concept
stage, product development stage, test marketing stage, test marketing stage, and commercialization stage.
www.vuzs.info
Question No: 5 ( M - 1 ) .
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
Scientific method: This is a more structured method of problem solving, including principles and rules for
concept formation, making observations and experiments, and finally validating the hypothesis.
Question No: 6 ( M - 1 ) .
Which of the following is used by entrepreneurs to acquire experience in an international market before
making a major commitment?
Merger
Joint venture
Minority interest
Majority interest
The joint venture provides ready access to new international markets.
Question No: 7 ( M - 1 ) .
Which of the following plan shows the economically feasibility of business?
Business
Financial
Economic
Marketing
Financial Plan: The financial plan determines the investment needed for the new venture and indicates
whether the business plan is economically feasible.
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Question No: 8 ( M - 1 ) .
What are the number of questions a marketing plan usually answers?
5
2
3
4
Understanding the marketing plan: The marketing plan should answer three basic questions:
Where have we been? -The history of the marketplace, marketing strengths and weaknesses, and market
opportunities.
Where do we want to go (short term)? - Marketing objectives and goals in the next twelve months.
How do we get there? -Specific marketing strategy that will be implemented.
Question No: 9 ( M - 1 ) .
Which of the following allows the entrepreneur to establish controls on the process during the implementation
of the marketing plan?
Sales data
Research data
Consumer data
Technical data
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Question No: 10 ( M - 1 ) .
Which of the following shows the characteristic of the venture that has experience in related business?
Strength
Weakness
Opportunity
Threat
Question No: 11 ( M - 1 ) .
Advertising and promotion for the business-to-business market involve all of the following EXCEPT:
Indirect sales
Trade magazine advertising
Direct sales
Trade shows
Question No: 12 ( M - 1 ) .
Which of the following shows the characteristic of the venture that has experience in related business?
Strength
Weakness
Opportunity
Threat
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Question No: 13 ( M - 1 ) .
In which of the following, banks are usually reluctant to give loan?
Sole Proprietor
Public Limited Companies
Partnership firm
Private Limited Companies
Question No: 14 ( M - 1 ) .
In which of the following majority holds the management control?
Partnership
Corporation
Limited liability company
All of the given options
In a partnership the majority usually rules unless the partnership agreement states otherwise.
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Question No: 15 ( M - 1 ) .
Which of the following represents the shares in borrowing of Large Enterprises in Pakistan?
68%
65%
66%
67%
Ref: Video Lecture#45, Time 10:45
Question No: 16 ( M - 1 ) .
Which of the following represents the environment in which entrepreneurship can’t grow?
Boom
Vacuum
Maturity
Introductory Phase
Ref: A business does not function in a vacuum. It has to act and react to what happens outside the factory
and office walls.
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Question No: 17 ( M - 1 ) .
"What the entrepreneur hopes to accomplish" includes in which section of business plan?
Vision statement
Mission Statement
Goal Statement
All of the above
The description of the venture should be detailed in this section. This should begin with the mission statement
or company mission, which describes the nature of the business and what the entrepreneur hopes to
accomplish.
Question No: 18 ( M - 1 ) .
Which of the following shows the standard acceptable term of a Limited Liability Company?
Three
Ten
Twenty
Thirty
Lesson 29
The standard acceptable term of an LLC is 30 years.
Question No: 19 ( M - 1 ) .
Which one of the following provides a guideline in determining hiring procedures?
Job description
Job specification
Job analysis
Job evaluation
The job analysis serves as a guide in determining hiring procedures.
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Question No: 20 ( M - 1 ) .
The S corporation combines the tax advantages of which one of the following?
Question No: 21 ( M - 1 ) .
Which of the following is the base of Job Advertisement?
Job Description
Job Specification
Job identification
All of the above options
Ref: Job Advertisement: Before you write your job ad, complete a job profile and/or job description.
A job advertisement is placed when a vacancy arises within a company or organization.
Question No: 22 ( M - 1 ) .
Which of the following shows the results from the difference between actual cash receipts and cash
payments?
Revenue
Profit
Cash flow
Income statement
Cash flow results from the difference between actual cash receipts and cash payments.
Question No: 23 ( M - 1 ) .
What is the primary concern of entrepreneurs, who trade equity for their growing venture?
Control
Valuation
Investor capabilities
Capitalization
Reference by Zubair Hussain
Capitalization: Its primary concern is capitalization, because Entrepreneurs offer share in his/her company in
return of money, when he lacks money to fulfill the need of capital.
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Question No: 24 ( M - 1 ) .
When the business does not have assets to support a loan, the entrepreneur may go for which one of the
following options?
Character loan
Straight commercial loan
Installment loan
Long term loan
Character loans: When the business does not have assets to support a loan, the entrepreneur may need a
character loan.
Question No: 25 ( M - 1 ) .
Which of the following number of years a mortgage loan may possibly cover?
10
20
30
40
Ref: As with other types of loans, mortgages have an interest rate and are scheduled
to amortize over a set period of time, typically 30 years.
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Question No: 26 ( M - 1 ) .
In which of the following techniques, money is given to a firm for developing a technology and involves a tax
shelter?
Question No: 27 ( M - 1 ) .
The overall coordinating party in an agreement is:
Limited partner
Major partner
Minor partner
General partner
Liability of Owners: The proprietor and general partners are liable for all aspects of the business.
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Question No: 28 ( M - 1 ) .
Which of the following includes grants from the U.S. government to small technology based businesses?
Question No: 29 ( M - 1 ) .
Which of the following is a formalized method for obtaining funds from private investors?
Private placement
Private offering
Regulation D
Bootstrap financing
Private placement refers to the process of obtaining funds from private parties such
as investors.
Question No: 30 ( M - 1 ) .
When did the Sindh Small Industries Corporation launch its credit scheme?
1972-73
1978-79
1988-89
1992-93
The SSIC also launched a credit scheme in 88, /89.
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Question No: 31 ( M - 1 ) .
Which of the following is a type of leverage ratio?
Debt ratio
Net profit margin
Return on investment
Current ratio
Debt ratio helps the entrepreneur assess the firm’s ability to meet all its obligations.
Question No: 32 ( M - 1 ) .
The mean age of entrepreneurial enterprises in Pakistan is:
12 years
15 years
20 years
22 years
Age Pattern: “The mean age of entrepreneur was found to be 42 years and of their enterprises 12 years. It is
comparable to the Korean age pattern (46)”.
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Question No: 33 ( M - 1 ) .
In most cases, the venture capitalist:
Question No: 34 ( M - 1 ) .
Conflicts in Management thoughts and Entrepreneur thoughts are resolved by which of the following
company?
Xerox
Unilever
Walls
Volta
Question No: 35 ( M - 1 ) .
The entrepreneur must possess the abilities:
Creative
Conceptualization
Understanding environment
All of the given options
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Question No: 36 ( M - 1 ) .
In which of the following era entrepreneur enters into a contract with government to perform a service?
20th century
Earliest period
Middle ages
17th century
17th Century: In the 17th century the entrepreneur was a person who entered into a contract with
the government to perform a service Richard Cantillon, a noted economist of the 1700s, developed theories
of the entrepreneur and is regarded as the founder of the term.
Question No: 37 ( M - 1 ) .
Which one of the following is a firm that achieves modest growth?
Question No: 38 ( M - 1 ) .
In entrepreneurial domain the commitment to opportunity has short time span but in managerial domain it is:
For 1 month
For 6 months
For long time span
For 1 year
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Question No: 39 ( M - 1 ) .
Moral support network includes all of the following EXCEPT:
Spouses
Friends
Business associates
Relatives
Moral support network of family and friends. Most entrepreneurs indicate that their spouses are their
biggest supporters.
Question No: 40 ( M - 1 ) .
Professional support network includes all of the following EXCEPT:
Personal affiliations
Mentor
Trade associations
Friends
1. A mentor-protégé relationship is an excellent way to secure the needed professional
advice.
2. Affiliations with individuals developed in hobbies, sporting events, civic involvements
and school alumni groups are excellent sources of referrals, advice, and information.
3. Trade associations are good network additions, as they keep up with new
developments and can provide overall industry data.
Question No: 41 ( M - 5 )
Differentiate the operating budget from capital budget?
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Question No: 42 ( M - 5 )
It is said that advertising agencies are meant for the promotional tools. Why do you think that it is a correct
statement?
Question No: 43 ( M - 10 )
An "S Corporation" is a corporation which has elected to have its profits pass through to its shareholders, in
the same manner as a partnership or sole proprietorship. Write down the pros and cons of "S Corporation".
Question No: 44 ( M - 10 )
Suppose you want to calculate the net worth of your business. What kind of statement will you use in order to
calculate the net profit? Also discuss its key feature.
Question No: 45 ( M - 10 )
Product or service is the basis of building the marketing plan. What are the major factors which should be
included while writing the marketing plan of a product or service?
MGT602 latest MCQs for Final Papers
by
Mar 9, 2014
Question No: 1 ( Marks: 1 ) - Please choose one
If cash disbursement for some items becomes greater than budgeted then it may
indicate a need for tighter _______.
Cash control
Cost control
Asset control
Debt control
All of the following are the most effective sources of hiring entry level and less
skilled positions except:
Networking
Business associates
Personnel agencies
Venture capitalist
Transferability of interest
Which one of the following shows the financial condition of the business at a
specific time?
Ignorance
Small setup
Bad governance
Undocumented activity
By which one of the following control elements the firm can ensure maximum
service to the customer?
Inventory control
Quality control
Sales control
Production control
Which of the following is the maximum amount that SBA can guaranteed unless it
is a specialized program?
$65,000.
$350,000.
$750,000.
$1,000,000.
Question No: 9 ( Marks: 1 ) - Please choose one
Online venture
Auto industry
Which of the following is independently owned and operated and not dominant in
its field of operation?
Diversified Organization
International Business
Small Business
Entrepreneurship
The sole proprietor has complete freedom to sell or transfer any part of business.
The sole proprietor makes all decisions and can act immediately
The owner of a sole proprietorship faces double taxation
In which form of the business the entrepreneur makes all decisions and can act
immediately?
Sole proprietorship
Partnership
Corporation
S Corporation
Which of the following is the special type of partnership where liability is limited
and continuity options are more flexible?
General partnership
Limited partnership
Which of the following describes the interaction between internal and external
factors that affect venture’s ability to provide goods and services to meet
customer needs?
Marketing research
Marketing system
Marketing plan
Marketing mix
Double taxation
Considering strengths and weaknesses of the venture is one step for preparing:
Financial Plan
Marketing Plan
Business Plan
Organizational Plan
Business experience
Change in law
Marketing Plan
Marketing Research
Marketing Mix
Target Market
12-14 People
14-16 People
Virtual University MCQs BANK - MCQs Collection
from Online Quizzes
MGT602 solved MCQs from new quizzes 4/8/2010
View Comments
Which one of the following should consider in economy while conducting environmental analysis?
Select correct option:
GNP
Disposable income (Tariq)
Unemployment
Channel of distribution
Economic Trends: The macro economic environment analysis will identify trends such
as changes in personal disposable income, interest rates, inflation and unemployment
rates.
Which of the following source of capital is relatively faster and less costly than other funding? Select correct
option:
Outsourcing
Public offering
Bootstrap financing
page # 89: A private offering is faster and less costly than other funding.
future of the new venture depends on the ________. Select correct option:
Employees loyalty
Business ideas
Economy
following has NO liability on the part of entrepreneur business? Select correct option:
Partners
Board of advisors
Shareholders (shafia)
Board of directors
Which of the following ratio will be helpful for assessing the firm’s capital structure?
Select correct option:
Current ratio
Acid test ratio
Profitability ratio
Debt to equity ratio (MK)
page no 100 :Debt to equity ratio assesses the firm’s capital structure. It provides a measure of risk by
considering the funds invested by creditors and investors.
Licensing
Management contracts
Direct export (MK)
Turnkey projects
Pgae no 31 Lesson 11
Which of the following is essential if your business deals with the Paper production?.
Select correct option:
Operational Plan
Bank loan
Production plan (MK)
Organizational plan
Page 58
If a new venture is a manufacturing operation, a production plan is necessary. This plan should describe the
complete manufacturing process, including whether or not the process is to be subcontracted.
The startups which rarely go public are called: Select correct option:
Life style
Small company
page no 8 : A type of company formed from research and development that usually does not go public. This
Life style
Public company
following factor can create the managerial difficulties in the joint ventures between foreign companies? Select
correct option:Cultural differences (MK)
Economic policies
Public ignorance
Government taxes
Page no 103 : Cultural differences can create managerial difficulties. Government policies sometimes can
have a negative impact on the venture. The benefits usually outweigh the drawbacks.
________ is commonly used to measure the short-term solvency of the venture? Select correct option:
Profitability ratio
Activity ratio
Page no 99 : Current ratio is commonly used to measure the short-term solvency of the venture or its ability to
meet its short-term debts.
Which of the following is NOT a characteristic of a marketing plan? Select correct option:
It should be flexible
Which of the following is the best option for starting the business with equity financing? Select correct option:
Sole Proprietor
Corporation (doubted) mk
Partnership firm
Page 81 : Equity financing offers the investor some form of ownership position in the venture.
b. Key factors in choosing the type of financing are availability of funds, assets of the venture, and prevailing
interest rates.
NWFP (glory)
Sindh
Punjab
Balochistan
Which one of the following is a method for obtaining new ideas and solutions by focusing on problems?
Select correct option:
ref pg 35
Goodwill
Skilled employees
Favorable location
Political instability (umeed)
The private investors are primarily interested in recovering his/her investment plus a good________.
Select correct option:
Dividend
Shares prices
Rate of return (umeed)
Business repute
The creative process for problem solving that involves making the strange familiar in first step and then
making the familiar strange through personal, direct or symbolic analogy is called:
Select correct option:
Synectics (glory)
Gordon method
Checklist method
Scientific method
Entrepreneurship(MGT602)
Solved MCQ's
Motivation
Role models
Professional-support network
Parents
Licensing
Turn-key projects
Management contracts
Motivation
Business skills
Occupational background
Chronological age
True
False
True
False
True
False
10. An attribute indicating the sense of control that a person has over life is called locus of
control
True
False
5) In chronological age , most entrepreneurs start their careers between ages
a) 22 and 55
b) 30 and 55
c) 40 and 65
b) Horizontal Merger
c) Joint Venture
d) Vertical Merger
b) Entrepreneurship is easy.
9) All of the following are recognized as potential sources of entrepreneurial ideas EXCEPT:
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
Hiring a manager
Engaging an attorney
Developing a product
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New regulations
Competition
Social changes
Manufacturing
An offer is made
An acceptance of offer
Consideration is given
Which one of the following is a sound strategic option for an entrepreneur when synergy is present?
Joint venture
Minority interest
Majority interest
http://groups.google.com/group/vuZs
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
Which of the following grants the owner protection from anyone else making, using and selling the
identified innovation?
Utility patent
Design patent
Plant patent
International patent
Ten participants
Consumers
Brain storming
Focus group
The product life cycle starts with which stage of product planning and development process?
Commercialization stage
The creative process for problem solving that involves making the strange familiar in first step and then
making the familiar strange through personal, direct or symbolic analogy is called:
Synectics
Gordon method
Checklist method
Scientific method
Which of the following geographical area is having least interest to U.S. entrepreneurs?
Europe
Central Asia
Transition economies
for more contents visit
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In an international perspective, which of the following decisions are NOT covered under strategic
planning of an entrepreneur?
Life insurance
Property insurance
When the multiplicity of environments become too complex to handle, the international entrepreneurs
often __________.
Go for mergers
Diversify
Decentralize operations
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Entrepreneurship(MGT602)
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The creative process for problem solvin that involves makin the stranefamiliar in first step and
then makin the familiar strane throuh personal, direct or symbolic analoy is called:
Synectics
ordon method
Checklist method
Location
Products offered
History
Which of the followin can not be covered under the copyriht protection?
Computer software
Computer hardware
In an international perspective, which of the followin decisions are NOT covered under strateic plannin of
an entrepreneur?
http://groups.google.com/group/vuZs
Real estates
Lease
Rentals
Which one of the factors should be considered while assessin the space for business?
Parkin
Delivery rates
Which of the followin is a more structured method of problem solvin, includin principles and rules for
concept formation, makinobservations and experiments, and finally validatin the hypothesis?
Scientific method
Heuristics
Attribute listin
Value analysis
Hirin a manaer
Enain an attorney
Developin a product
Consumers
Federal overnment
Brain stormin
Concept
Product development
Test marketin
Commercialization
Manaement contracts
Direct export
Turnkey projects
Plannin
Diversification
Control
Ten participants
21) Which one of the following is the next stage to the Concept Stage of Product Planning and
Development Process?
Idea Stage
Official Gazette
23) According to the governing bodies of common laws, the life of trade secret is:
12 years
17 years
20 years
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18th century
17th century
Individuals influencing an entrepreneur’s career choice and style are known as:
Role model
Moral-support network
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Support system
Ref:
Role models
The person with capital was differentiated from the one who needed the capital in the:
Middle ages
17th century
18th century
20th century
Ref:
In the 18th century the person with capital was differentiated from the one who needed capital. In other
words, entrepreneur was distinguished from the capital provider.
Many of the inventions developed during this time as was the case with the inventions of Eli Whitney and
Thomas Edison were unable to finance invention themselves. Both were capital users (entrepreneurs),
not capital providers (venture capitalists.) Whitney used expropriated crown property. Edison raised
capital from private sources.
Which one of the following is the next stage to the Concept Stage of Product Planning and Development
Process?
Idea Stage
Ref:
Concept Stage
In the concept stage the refined idea is tested to determine consumer acceptance without manufacturing
it. One method of testing is the conversational interview in which respondents are exposed to statements
that reflect attributes of the product. Features, price, and promotion should be evaluated in comparison
to major competitors to indicate deficiencies or benefits. The relative advantages of the new product
versus competitors should be determined.
In this stage, consumer reaction is determined, often through a consumer panel. The panel can be given
samples of the product and competitors’ products to determine consumer preference. Participants keep
the record of their use of product and comment on its virtues and deficiencies.
Investor
Marketer
Entrepreneur
Consultant
Ref:
Ref:
Before preparing a business plan, the entrepreneur should do a quick feasibility study to see if there are
possible barriers to success
A feedback loop
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Employees loyalty
Business ideas
Economy
An ice cream producing company merges with a cotton spinning company this merger is an example of:
Vertical merger
Ref:
A diversified activity merger is a conglomerate merger involving the consolidation of two unrelated firms.
Partnership firm
Sole Proprietor
Joint venture
Management contracts
Minority interest
Merger
Ref:
Management contracts
Entrepreneurs can contract their management techniques and skills, often following a turn-key project.
The management contract allows the purchasing country to gain foreign expertise without turning
ownership over to a foreigner
Ref:
LICENSING Licensing is an arrangement between two parties, where one party has proprietary rights
protected by a patent, trademark, or copyright. This requires the licensee to pay a royalty to the holder
of the proprietary rights in return for permission to copy the
Entrepreneurial
Intrapreneurial
Corporate
Ref:
The typical corporate culture has a climate and reward system that favors conservative decision making.
Emphasis is on gathering large amounts of data as the basis for a rational decision. Risky decisions are
often postponed until hard facts are gathered or a consultant is hired. Often there are so many approvals
required that no individual feels personally responsible for the
Which one of the following is the first step in the entrepreneurial process?
According to the governing bodies of common laws, the life of trade secret is:
12 years
17 years
20 years
Speed
Innovation
Graphics
Products
Inventory
Fixed asset
Heuristics
Forced relationship
Scientific method
Value analysis
Personal affiliations
Mentor
Trade associations
Friends
Brain storming
Focus group
Photos of invention
Cover letter
Which one of the following is a sound strategic option for an entrepreneur when synergy is present?
Merger
Joint venture
Minority interest
Majority interest
Ref:
Two firms get together and form a third company in which they share the equity. Joint ventures have
been used by entrepreneurs in two situations:
1. When the entrepreneur wants to purchase local knowledge and an established facility.
2. When rapid entry into a market it needed. The keys to success of joint ventures have not been well
understood. Reasons for forming a joint venture today are different than those in the past. Originally,
joint ventures were used for trading purposes and were one of the oldest ways of transacting business.
Joint ventures in the U.S. took the form of vertical joint ventures used by mining concerns and railroads.
Motives for the significant increase in the use of joint ventures:
Which of the following conversion system is most complex and requires careful evaluation of inventory?
LIFO to FIFO
No particular standard
Finance
Technology
Infrastructure
Subsidiaries
Ref:
The government also contributes by providing the infrastructure to help a new venture.
In which of the following business, the records are needed to be maintained on the basis of monthly
charges paid by the customers?
Service venture
Online venture
Auto industry
Which of the following budget is required for the purchase of new equipment?
Sales Budget
Operational Budget
Capital Budget
Manufacturing Budget
Ref:
A capital budget may project expenditures for new equipment, vehicles, or new facilities
Self employed
Discouraged
Non supportive
Strict
The ______ plan describes how the product will be distributed and priced.
Financial
Production
Venture
Marketing
Economic
Cultural
Technological
Locus of control
Locomotion of control
Locust of control
Loss of control
Personal relationship
No concern
Fashion
Which one of the following ratios is a more careful test of the short-term liquidity of the venture?
Debt ratio
Activity ratio
Profitability ratio
Ref:
Acid test ratio is a more rigorous test of the short-term liquidity of the venture
Which of the following gives the owners a negative right, preventing anyone from making, using, or
selling the invention?
Patent
Copyright
Trade mark
Trade secret
Which of the following contains all backup material that is not included in the text of business plan?
History of entrepreneur
Financial plan
Appendix
Bibliography
Periodic intervals
1972
1973
1975
1976
Which of the following is the best option for starting the business with equity financing?
Sole Proprietor
Corporation
Partnership firm
Official Gazette
What can be the effect on cash flows due to delays in payments by the clients?
Ref:
Using internal credit makes the firm responsible for collecting delinquent payments, and payment delays
can create negative cash flows.
Middle ages
17th century
The activity which occurs when the new venture is started are called:
Select correct option:
Motivation
Business skills
Departure point
Goal orientation
Which statement of the following relates with the ultimate goal of Business
Profit Statement
Goal Statement
Mission Statement
Vision Statemen
Which one of the following is the systematic assembly of all the facts about a job?
Job Specification
Job Description
Job Identification
Job Analysis
___________ is required if a company wants to be more flexible in adopting changes.
Management commitment
Technology
More productivity
In which rule under ‘Regulation-D’, a company can sell up to $500,000 of securities to any number of
investors in any 12-month period?
Rule 502
Rule 503
Rule 504
Rule 505
Ref:
Under Rule 504 a company can sell up to $500,000 of securities to any number of investors in any 12-
month period.
Current ratio
Profitability ratio
Activity ratio
Ref:
Liquidity Ratios Current ratio is commonly used to measure the short-term solvency of the venture or its
ability to meet its short-term debts. The current liabilities must be covered from cash or its equivalent
On the part of entrepreneur which of the following has/ have a great concern to the Investors
Experience
Commitment
Knowledge
Independence
Achievement
Affiliation
Authority
Ref:
Need for independence. Being one’s own boss-one of the strongest needs of an entrepreneur
An actor and a person who managed large project were termed as the entrepreneur in the _________.
Earliest period
Middle ages
17th century
Ref:
Middle Ages
In this age the term entrepreneur was used to describe both an actor and a person who managed large
production projects. In such large production projects, this person did not take any risks, managing the
project with the resources provided. A typical entrepreneur was the cleric who managed architectural
projects.
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Entrepreneurs
Consultants
Engineers
Ref:
Sole Proprietor
General Partnership
Limited Partnership
Corporation
Ref:
Real State
Shares
Tangible property
Ref:
The collateral or tangible assets being secured
Which one of the following culture that has a climate and reward system that favor conservative decision
making?
Entrepreneurial
Intrapreneurial
Corporate
Ref:
The typical corporate culture has a climate and reward system that favors conservative decision making.
Management commitment
Technology
More productivity
Ref:
Without top management commitment, the organization will never be able to make the necessary
changes.
When the multiplicity of environments become too complex to handle, the international entrepreneurs
often __________.
Go for mergers
Diversify
Decentralize operations
http://www.vustudents.net
1-Which of the following factors has allowed small companies to act like they are big
ones?
A. Competition
B. Economic development
C. Technology P:21
Technology has allowed small companies to act like they are big ones. Large
companies can use technology to make them responsive and flexible
D. Customers
In the 18th century the person with capital was differentiated from the one who needed
capital. In other words, entrepreneur was distinguished from the capital provider.
B. 17th century
D. Middle ages
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1
3-Gazelles are the firms with:
Gazelles
4-Female entrepreneurs differ from male entrepreneurs in terms of all of the following
EXCEPT:
A. Motivation P:27
Factors in the start-up process for male and female entrepreneurs are different, especially
in such areas as support systems, sources of funds, and problems. Men are motivated by
the drive to control their own destinies. Women tend to be more motivated by the need for
achievement arising from job frustration.
B. Business skills
C. Departure point
D. Goal orientation
5-Foundation companies are formed from:
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2
A. Fashion
C. A winding up company
Foundation companies:
A type of company formed from research and development that usually does not go
public.
A. Licensing
B. Management contracts
D. Turnkey projects
B. Utilities
C. Manufacturing
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3
Select correct option
• Management commitment P: 20
Step 1:
• Technology
• More productivity
9-Which one of the following is the fourth step in the entrepreneurial process?
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4
10-When the multiplicity of environments become too complex to handle, the
international entrepreneurs often .
• Diversify
• Decentralize operations
11-The activity which occurs when the new venture is started are called:
• Motivation
• Business skills
• Goal orientation
12-Individuals influencing an entrepreneur’s career choice and style are known as:
Moral-support network
Professional support network
Support system
• Personal affiliations
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• Mentor
• Trade associations
14-All of the following are the broad categories of External forces EXCEPT:
• Economic forces
• Socioeconomic forces
• Technological forces
• Competitive forces
15-An entrepreneur into the hosiery business found out the reason his hosiery was not
selling was due to its color. What could be the best source of this information?
• Supplier
• Competition
• Government bureau
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► Independence P:25
► Achievement
► Affiliation
► Authority
With a commercial history of only 300 years, which country was a new comer to the
international arena?
► Japan
► U.S
► China
► U.K
► Mergers
► Trade barriers
Trade barriers pose problems for entrepreneurs who want to become involved in
international business. Trade barriers increase the costs of exporting projects to a
country. Voluntary export restrictions may limit the ability to sell products in a country
from production facilities outside the country. An entrepreneur may have to locate
assembly or facilities in a country to conform to the local content regulations.
► Rivalry
► Protectionist attitudes
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Which one of the following is an important source of idea generation due to their
familiarity with the needs of market?
Distribution Channels
Because they are familiar with the needs of the market, channel members often have
suggestions for new products. These channel members can also help in marketing the
new product.
► Federal government
► Consumers
All ideas, no matter how illogical, must be recorded, with participants prohibited from
criticizing or evaluating during the brainstorming session.
► Internet advertising
► Website P:44
Website
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A website is an online connection between the company and its customers and can be
developed n-house or outsourced. There are several important features of every website.
► E Commerce
Which one of the following is the next stage to the Concept Stage of Product Planning
and Development Process?
► Idea Stage
Generally divided into five major stages: idea stage, concept stage, product
development stage, test marketing stage, test marketing stage, and commercialization
stage
To maintain secrecy
1. Train employees to refer sensitive questions to one person.
journals.
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5. Use simple security such as locked file cabinets and shredders.
10. Protection against the leaking of trade secrets is difficult to enforce, and legal action
can be taken only after the secret has been revealed.
Licensing
Contractual agreement giving rights to others to use intellectual property in return for a
royalty or fee
► Lack of experience
► Limited resources
Control of Resources
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10
The administrator is rewarded by effective resource administration and has a drive to own
or accumulate as many resources as possible. The entrepreneur, under pressure of
limited resources strives to rent resources on an as-needed basis.
► Lack of education
► One
► Three page # 54
► Four
► Not specific
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Which one of the following is NOT an cfactor?
► Economy
► Culture
► Technology
► Competition P:57
Which one of the following guide the firm through the long term decision making
► Product forecast
► Industry analysis
Which one of the following is NOT included in four C’s evaluation by lender?
► Character
► Cost
► Continuity page#85
► Contribution
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► Songs
► Poems
► Models
► 10 years
► 40 years
► 20 years Page # 46
1. Utility Patents
A utility patent has a term of 17 years, beginning on the date the Patent and
Trademark Office (PTO) issues it. NAFTA (North American Free Trade
► 80 years
► NAFTA
► FTA
► PTO Page # 46
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Which of the following is a idea generation method that focuses on parameters?
► Brainstorming
► Reverse brainstorming
► Synectics
► Heuristics
► Forced relationship
► Value analysis
► Decrease in cost
► Increase in profit
► None of the given options
► Joint venture
► Majority interest
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► Exporting
Having more than 50% ownership position that provides the entrepreneur with manager
► Joint venture
In technical sense anything over 50% of the equity of the firm is majority interest.
► Horizontal merger
Which of the following is a method of selling goods to another country by taking care of all
technicalities?
► Indirect exporting
► Management contract
Which of the following two work environments should be good for spawning the new
venture?
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► Marketing and R&D
► Marketing and IT
► Gazelles Page # 7
► Life style
► Foundation Company
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In some countries, points of purchase displays are not allowed in retail stores. Such
differentrepreneurs under which of the following type of environment?
► Economic
► Political
► Cultural
► Technological
Which of the following factor has allowed small companies to act like they are big
► Technology Page # 21
Step 3: A company needs to use technology to make itself faster and more flexible.
Technology has allowed small companies to act like they are big ones. Large
companies can use technology to make them responsive and flexible.
► Customers
► Economic development
► Competition
► Intrapreneurship Page # 21
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Question No: 32 ( Marks: 1 ) - Please choose one
► Understands environment
► Management
► Evaluation
► Reward
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► Training
Which of the following typical culture has a climate and reward system that favors conse
conservative decision making.?
► Entrepreneurial
► Intrapreneurial
► Corporate Page NO 18
The typical corporate culture has a climate and reward system that favors conservative
decision making.
Which of the following makes the formation of new venture difficult within a corporate?
Which of the following are known as barriers to new product creation and development?
► Trial and error
► Opportunity cost
► Intrapreneurship culture
Which of the following factor does not affect a person for being an entrepreneur?
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19
► Family background
► Education
► Personal values
► Gender
► Locus of control
► Locomotion of control
► Locust of control
► Loss of control
Which of the following plan describes market conditions and strategy related to
► Production plan
► Operational plan
► Financial plan
► Marketing plan
► Role models
► Informal networks
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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 PAGE NO 25
Motivations
2. Which of the following techniques is an excellent method for initially screening ideas and
concepts in addition to generating new ideas?
a. Focus group
1. Focus Groups – these are the groups of individuals providing information in a structural
format. A moderator leads a group of people through an open, in-depth discussion rather
than simply asking questions to solicit participant response. Such groups form comments in
open-end in-depth discussions for a new product area that can result in market success. In
addition to generating new ideas, the focus group is an excellent source for initially
screening ideas and concept.
b. Brain storming
d. Reverse brainstorming
3. The creative process for problem solving that involves making the strange familiar in
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21
First step and then making the familiar strange through personal, direct or symbolic
Analogy is called .
a. Synectics Page # 40
b. Gordon method
c. Checklist method
d. Scientific method
a. Go for mergers
b. Diversify
c. Decentralize operations
5. An entrepreneur into the hosiery business found out the reason his hosiery was not
selling was due to its color. What could be the best source of this information?
a. Supplier
d. Government bureau
6. In some countries, points of purchase displays are not allowed in retail stores. Such
differences are studied by international entrepreneurs under
environment.
a. Economic
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22
b. Political
c. Cultural
d. Technological
7. Entrepreneurial success has been significant because of the culture and the political
and economic systems in . http://www.vustudents.net
a. European countries
c. Transition economies
d. Middle east
8. Having more than 50% ownership position that provides the entrepreneur with
managerial control is called .
a. Joint venture
c. Horizontal merger
infrastructure and yet do not want to turn over substantial portion of their
a. Management contract
b. Indirect exporting
c. Licensing
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d. Turn-key project H.outs Page No: 31
Turn-key projects
Entrepreneur builds a facility, trains the workers, and trains the management to
10. The development of a new venture based on an inventor’s work often requires
C. 17th century
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D. 19th and 20th century
A. Dynamic P:04
Static
C. Continues
D. Systematic
Finance
B. Marketing
C. Govt Support
D. Family Support
Q #4: Which one of the following is the process of entrepreneurs developing new
products that over time make current products obsolete?
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25
A. Creative destruction
C. Anatomization
Q #5: The intersection of knowledge and a recognized social need to start a product
A. Iterative synthesis
P:7
Iterative synthesis
The intersection of knowledge and social need that starts the product development
process
B. Product-evolution process
C. Ordinary innovation
D. Situation analysis
Q #6: Which one of the following is the primary cause of failure in small businesses?
B. Poor location
C. Management mistakes
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D. Improper inventory control
Q #7: Which one of the following is the first step in the entrepreneurial process?
Q #8: Which of the following is NOT included in the opportunity evaluation process? A.
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Q #9: The resistance of employees in an organization against flexibility, growth, and
diversification can be overcome by developing:
A. Entrepreneurship
B. Intrapreneurship P:16
C. Managerial domain
D. Administrative domain
Commitment of resources C.
Control of resources
D. Strategic orientation
Strategic Orientation
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Q #11: Which of the following statements about the entrepreneurial climate is (are)
true?
Fourth, the resources of the firm need to be available and easily accessible. Often,
insufficient funds are allocated not to creating something new but instead to solving a
problem that have an immediate effect on the bottom line.
Q #12: Which of the following makes the formation of new venture difficult within a
corporate culture?
big ones?
A. Competition
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B. Economic development
C. Technology P:21
Technology has allowed small companies to act like they are big ones. Large
D. Customers
Entrepreneurship
B. Intrapreneurship
A. Independence P:25
B. Achievement
C. Affiliation
D. Authority
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Q #16: An individual’s need to be recognized is called:
C. Need of fame
Q #17: Which one of the following factors does not affect a person for being an
Entrepreneur?
A. Family background
B. Education
C. Personal Values
D. Gender
Q #18: Female entrepreneurs differ from male entrepreneurs in terms of all of the
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following EXCEPT:
A. MotivationP:27
Factors in the start-up process for male and female entrepreneurs are different, especially
in such areas as support systems, sources of funds, and problems. Men are motivated by
the drive to control their own destinies. Women tend to be more motivated by the need for
achievement arising from job frustration.
B. Business skills C.
Departure point D.
Goal orientation
A. Administration
B. Utilities
C. Manufacturing
C. Men are often more confident and less flexible and tolerant
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D. Men usually list outside advisors as the least important supporters
A. Finance
B. Technology
C. Infrastructure P:06
Individual will tend to be more successful in forming in fields in which they have worked.
The government also contributes by providing the infrastructure to help a new
venture.
D. Subsidiaries
A. Earliest period
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B. Middle ages
Middle Ages
In this age the term entrepreneur was used to describe both an actor and a person
who managed large production projects. In such large production projects, this
person did not take any risks, managing the project with the resources provided. A
typical entrepreneur was the cleric who managed architectural projects.
C. 17th century
4-An actor and a person who managed large project were termed as the entrepreneur in the
.
A. Earliest period
B. Middle ages
Middle Ages
In this age the term entrepreneur was used to describe both an actor and a person
who managed large production projects. In such large production projects, this
person did not take any risks, managing the project with the resources provided. A
typical entrepreneur was the cleric who managed architectural projects.
C. 17th century
D. 19th and 20th century
A. Male
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B. Female
C. Young
6-The former USSR received technology and syrup from Pepsi and provided it with
Soviet vodka and rights to distribute it in the US. This is an example of:
A. Economic development
B. Barter system
C. Balance of payment
D. International trade
9. An entrepreneur falls in love with the new venture, while the inventor falls in love
with the invention.
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D. None of the given options
C. Need of fame
A. Motivation
B. Goal orientation
C. Departure point
Departure points
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D. Business skills
Iterative synthesis
The intersection of knowledge and social need that starts the product development
process
B. Product-evolution process
C. Ordinary innovation
D. Situation analysis
a. To make a list of the information that will be needed to prepare the marketing
plan. Page # 62
b. Gathering Data from Secondary Sources
2. A focus group
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c. Is a sample of 10 or 12 potential customers who participate in a
discussion? Page NO 63
Focus groups
The situation analysis is a review of where the company has been and considers many of
the environmental factors.
Pricing.
One of the difficult decisions is determining the appropriate price for the product. Factors
such as costs, discounts, freight, and markups must be considered. Marketing research
can help determine a reasonable price that consumers are willing to pay.
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5. Which of the following statement is true for marketing system?
The marketing system identifies the major interacting components, both internal and
external, that enable the firm to provide products to the marketplace. Environment
factors, although largely uncontrollable, should be studied.
b. Distribution place
a. How much and when the funds are coming into the organization. b.
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8. Before developing the pro forma income statement, the entrepreneur should
b. Capital budgets.
c. Cash flow results from the difference between all cash available and cash payments.
d. Cash flows only when actual payments are made or received. Handouts
Page#78
2. Cash flow results from the difference between actual cash receipts and cash
payments.
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The S Corporation combines the tax advantages of the partnership and the corporation.
2. Shareholders benefit from all of the income and the deductions of the business. b.
S Corporations represent almost half of all corporate fillings.
c. A popular new entity is the limited liability company (LLC)
d. Limited liability Company (LLC) offers similar disadvantages as the S
Corporation
a. To make a list of the information that will be needed to prepare the marketing
plan. Page # 62
2. A focus group
Focus groups
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3. The situation analysis is
The situation analysis is a review of where the company has been and considers many of
the environmental factors.
Pricing.
One of the difficult decisions is determining the appropriate price for the product. Factors
such as costs, discounts, freight, and markups must be considered. Marketing research
can help determine a reasonable price that consumers are willing to pay.
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The marketing system identifies the major interacting components, both internal and
external, that enable the firm to provide products to the marketplace. Environment
factors, although largely uncontrollable, should be studied.
b. Distribution place
a. How much and when the funds are coming into the organization. b.
b. Capital budgets.
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d. Both of the options given (a, b) Handouts Page # 75
c. Cash flow results from the difference between all cash available and cash payments.
d. Cash flows only when actual payments are made or received. Handouts
Page#78
2. Cash flow results from the difference between actual cash receipts and cash
payments.
The S Corporation combines the tax advantages of the partnership and the corporation.
2. Shareholders benefit from all of the income and the deductions of the business. b.
S Corporations represent almost half of all corporate fillings.
c. A popular new entity is the limited liability company (LLC)
d. Limited liability Company (LLC) offers similar disadvantages as the S
Corporation
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1. One effective way to begin the marketing plan is
a. To make a list of the information that will be needed to prepare
the marketing plan. Page # 62
b. Gathering Data from Secondary Sources
c. Gathering Information from Primary Sources.
d. None of the options given
2. A focus group
a. Is a sample of 10 or 12 potential investors who participate in a
discussion?
b. Is a sample of 10 or 12 potential employees who participate in a
discussion?
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b. It identifies the major interacting components, both internal and
external Page # 64
The marketing system identifies the major interacting components, both internal
and external, that enable the firm to provide products to the marketplace.
Environment factors, although largely uncontrollable, should be studied.
c. Cash flow results from the difference between all cash available and cash
payments.
d. Cash flows only when actual payments are not made but only received.
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10. Which of the statement is not true?
a. The S Corporation combines the tax advantages of the
partnership and the corporation. Handouts page # 72
The S Corporation combines the tax advantages of the partnership and the
corporation.
1. It is designed so that the venture income is declared as personal
income on a pro rata basis.
2. Shareholders benefit from all of the income and the deductions of the
business.
b. S Corporations represent almost half of all corporate filings.
c. A popular new entity is the limited liability company (LLC)
d. Limited liability Company (LLC) offers similar disadvantages as the S
Corporation
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b. Indirect exporting
c. Licensing
d. Turn-key project H.outs Page No: 31
Turn-key projects
Lesser-developed countries are able to obtain manufacturing technology
without surrendering economic control through turn-key projects. A foreign
entrepreneur builds a facility, trains the workers, and trains the
management
to run the installation.
Which one of the following should consider in economy while conducting environmental
analysis?
Select correct option:
GNP
Disposable income (Tariq)
Unemployment
Channel of distribution
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Employees loyalty
Business ideas
Economy
following has NO liability on the part of entrepreneur business? Select correct option:
Partners
Board of advisors
Shareholders
(shafia) Board of
directors
Which of the following ratio will be helpful for assessing the firm’s capital structure?
Select correct option:
Current ratio
Acid test ratio
Profitability ratio
Debt to equity ratio (MK)
page no 100 :Debt to equity ratio assesses the firm’s capital structure. It provides a
measure of risk by considering the funds invested by creditors and investors.
Licensing
Management contracts
Direct export (MK)
Turnkey projects
Pgae no 31 Lesson 11
Which of the following is essential if your business deals with the Paper production?.
Select correct option:
Operational Plan
Bank loan
Production plan (MK)
Organizational plan
Page 58
If a new venture is a manufacturing operation, a production plan is necessary. This plan
should describe the complete manufacturing process, including whether or not the
process is to be subcontracted.
The startups which rarely go public are called: Select correct option:
Life style
Foundation Company (MK)
Small company
High potential venture
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page no 8 : A type of company formed from research and development that usually
does not go public. This
firm can grow in five to ten years from 40 to 400 employees.
following factor can create the managerial difficulties in the joint ventures between
foreign companies? Select correct option:Cultural differences (MK)
Economic policies
Public ignorance
Government taxes
Page no 103 : Cultural differences can create managerial difficulties. Government
policies sometimes can have a negative impact on the venture. The benefits usually
outweigh the drawbacks.
Which of the following is the best option for starting the business with equity financing?
Select correct option:
Sole Proprietor
Corporation (doubted) mk
Partnership firm
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None of the above
Page 81 : Equity financing offers the investor some form of ownership position in the
venture.
a. The investor shares in the profits of the venture.
b. Key factors in choosing the type of financing are availability of funds, assets of the
venture, and prevailing interest rates.
c. Usually a combination of debt and equity financing is used.
NWFP (glory)
Sindh
Punjab
Balochistan
ref at pg 84 under training center heading lec 37
Which one of the following is a method for obtaining new ideas and solutions by
focusing on problems?
Select correct option:
Goodwill
Skilled employees
Favorable location
Political instability (umeed)
The private investors are primarily interested in recovering his/her investment plus a
good .
Select correct option:
Dividend
Shares prices
Rate of return (umeed)
Business repute
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The creative process for problem solving that involves making the strange familiar in first
step and then making the familiar strange through personal, direct or symbolic analogy
is called:
Select correct option:
Synectics (glory)
Gordon method
Checklist method
Scientific method
ref at pg 35 lec 16 under creative problem heading
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Offering new products by an existing company
6. An entrepreneur is a person who is a:
Risk taker
Initiator
Actor
All of the given options
7. Following are the important aspects of international success
EXCEPT:
Planning
Diversification
Reporting
Control
8. A typical inventor is usually .
Highly creative & in love with the invention
Does not encourage change
Willing to modify the invention in order to augment commercial benefit
None of the given options
9. All of the following are the broad categories of External forces
EXCEPT:
Economic forces
Socioeconomic forces
Technological forces
Competitive forces
10. An entrepreneur doing business within the national border is
called:
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
11. Selling goods to another country by taking care of transactions
is called:
Indirect exporting
Direct exporting
Importing
Management contract
12. The difference between the value of a country’s imports and
exports over time is called:
Deficit exports
Deficit imports
Balance of payment
Balance of debt
13. Which one of the Following is the way by which an
entrepreneur
can enter into international business?
Export
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53
Non equity arrangements
Direct foreign investment
All of the given options
14. In some countries, point of purchase displays are not allowed
in retail stores. Such differences are studied by international
entrepreneurs under environment.
Economic
Political
Cultural
Technological
15. The chief motivational factor for
entrepreneurs to leave jobs is the frustration of not being allowed to
perform at the level of which they are capable.
Male
Female
Young
All of the given options
16. Gazelles are the firms with:
High growth rate
Moderate growth rate
Zero% growth rate
Zero% growth rate
17. When the multiplicity of environments become too complex to
handle, the international entrepreneurs often
Go for mergers
Diversify
Decentralize operations
Sale out the foreign business http://www.vustudents.net
18. The activity which occurs when the new venture is started are
called:
Motivation
Business skills
Departure point
Goal orientation
19. Which one of the following is the process of entrepreneurs
developing new products that over time make current products
obsolete?
Creative destruction
New business model
Anatomization
None of the given options
20. The entrepreneur utilizes the resources through:
Identifying and evaluating the opportunity
Developing a business plan
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54
Implementing the business plan
Manage the enterprise
21. Which of the following areas are preferred by women
entrepreneurs?
Administration
Utilities
Manufacturing
None of the above
22. An individual’s need to be recognized is called:
Need for independence
Need for affiliation
Need of fame
Need for achievement
23. Which one of the following is NOT an intrapreneurial leadership
characteristic?
Understands environment
Encourage the team work
Not flexible
Persistent
24. When the Directorate of Industries, Balochistan was formed?
1972
1973
1975
1976
25. Which one of the following is important for international
business to avoid trade barriers?
Protectionist attitude
Entrepreneurial partnering
Free trade areas
None of the given options
26. SBIR grant program is controlled by:
10 Agencies
11 Agencies
12 Agencies
13 Agencies
27. Which one of the following is the systematic assembly of all
the
facts about a job?
Job Specification
Job Description
Job Identification
Job Analysis
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SOLVED BY 4 MAD’s GROUP
TEAM: SALMAN ASIF, ASIM, AYESHA, AMNA
1. is required if a company wants to be more flexible
in
adopting changes.
Management commitment
Contact with customers
Technology
More productivity
2. Which 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
3. The entrepreneur must possess the abilities:
Creative
Conceptualization
Understanding environment
All of the given options
4. Which of the following statements about the intrepreneurial
climate is (are) true?
Trial and error are discouraged.
Resources of the firm need to be available and easily accessible
A multidisciplinary approach is discouraged.
Failures are not allowed
5. Which of the following is alternatively called corporate
venturing?
Entrepreneurship
Intrapreneurship
Act of stating a new venture
Offering new products by an existing company
6. An entrepreneur is a person who is a:
Risk taker
Initiator
Actor
All of the given options
7. Following are the important aspects of international success
EXCEPT:
Planning
Diversification
Reporting
Control
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56
8. A typical inventor is usually
. Highly creative & in love with the invention
Does not encourage change
Willing to modify the invention in order to augment commercial benefit
None of the given options
9. All of the following are the broad categories of External forces
EXCEPT:
Economic forces
Socioeconomic forces
Technological forces
Competitive forces
10. An entrepreneur doing business within the national border is
called:
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
11. Selling goods to another country by taking care of transactions
is called:
Indirect exporting
Direct exporting
Importing
Management contract
12. The difference between the value of a country’s imports and
exports over time is called:
Deficit exports
Deficit imports
Balance of payment
Balance of debt
13. 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
14. In some countries, point of purchase displays are not allowed in
retail stores. Such differences are studied by international
entrepreneurs under environment.
Economic
Political
Cultural
Technological
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57
15. The chief motivational factor for
entrepreneurs to leave jobs is the frustration of not being allowed to
perform at the level of which they are capable.
Male
Female
Young
All of the given options
16. Gazelles are the firms with:
High growth rate
Moderate growth rate
Zero% growth rate
Zero% growth rate
17. When the multiplicity of environments become too complex to
handle, the international entrepreneurs often
Go for mergers
Diversify
Decentralize operations
Sale out the foreign business
18. The activity which occurs when the new venture is started are
called:
Motivation
Business skills
Departure point
Goal orientation
19. Which one of the following is the process of entrepreneurs
developing new products that over time make current products
obsolete?
Creative destruction
New business model
Anatomization
None of the given options
20. The entrepreneur utilizes the resources through:
Identifying and evaluating the opportunity
Developing a business plan
Implementing the business plan
Manage the enterprise
21. Which of the following areas are preferred by women
entrepreneurs?
Administration
Utilities
Manufacturing
None of the above
22. An individual’s need to be recognized is called:
Need for independence
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Need for affiliation
Need of fame
Need for achievement
23. Which one of the following is NOT an intrapreneurial leadership
characteristic?
Understands environment
Encourage the team work
Not flexible
Persistent
24. When the Directorate of Industries, Balochistan was formed?
1972
1973
1975
1976
25. Which one of the following is important for international
business to avoid trade barriers?
Protectionist attitude
Entrepreneurial partnering
Free trade areas
None of the given options
26. SBIR grant program is controlled by:
10 Agencies
11 Agencies
12 Agencies
13 Agencies
27. Which one of the following is the systematic assembly of all the
facts about a job?
Job Specification
Job Description
Job Identification
Job Analysis
1. The importance of intellectual property should be understood by
entrepreneur even before:
Hiring a manager
Engaging an attorney
Developing a product
Establishing new venture
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page 46 Intellectual property which includes patents, trademarks,
copyrights, and trade secrets represent important assets of entrepreneur
and should be understood even before engaging the services of an attorney.
The marketing perspective considers the venture through the eyes of the
customer p#54
The organizational plan section should describe the venture’s form of ownership.
If the venture is a corporation, this should include the number of shares
authorized, share options, and names and addresses of the directors and officers.
It is helpful to provide an organization chart P#58
Entrepreneur
Shareholders
Earliest period
Middle ages
17th century
Middle Ages: In this age the term entrepreneur was used to describe both
an actor and a person who managed large production projects
Communicational
Technical
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Financial
Production
Venture
Marketing
Europe
The
Far East
Central Asia
Transition economies
Locus of control
Locomotion of control
Locust of control
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Loss of control
parents.
Self employed
Discouraged Non
supportive Strict
Spouses
Friends
Business associates
Relatives
Middle ages
17th century
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18. Which one of the following is the fourth step in
the entrepreneurial process?
Lack of knowledge
Direct export
Indirect export
Domestic sales
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22. Which one of the following is a barriers to new
product creation and development?
Opportunity parameter
Opportunity cost
Intrapreneurship culture
Possible
Desirable
Accurate
Both a and b
Independence
Achievement
Affiliation
Authority
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26. An entrepreneur into the hosiery business found out the
reason his hosiery was not selling was due to its color.
What could be the best source of this information?
Supplier
Retailer Competition
Government bureau
Competition
Economic development
Technology
Customers
Foundation firm
Life style
Public company
No particular standard
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30. The entrepreneur’s depends on his
perception of the opportunity.
Commitment to opportunity
of resources
Strategic orientation
Risk taking
Licensing
Management contracts
Direct export
Turnkey projects
Life style
Public company
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Corporate culture
Entrepreneurial culture
Intrapreneurial culture
Traditional culture
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6. Which one the following is the uncontrollable factor
in international trade?
Economic
Cultural
Technological
All of the given options
7. The plan should contain control points to
ascertain
progress.
Business
Marketing
Financial
Operational
8. The business plan should be prepared by:
Entrepreneurs
Consultants
Engineers
Small business administration services
9. Which of the following is included in the description of the
business?
Location
Products offered
History
All of the given options
10. According to the governing bodies of common laws, the life of
trade secret is:
12 years
17 years
20 years
As long as it remains confidential
11. Stake holders are present in
Partnership
Corporation
Sole Proprietorship
None of the above
12. The most sensitive plan in the business plan is?
Operational Plan
Production Plan
Marketing Plan
Financial Plan
13. Which statement of the following relates with the ultimate goal
of Business
Profit Statement
Goal Statement
Mission Statement
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Vision Statement
14. Major contribution of export comes from:
Leather goods
Surgical instrument
Sports goods
All of the given options
15. Targeting the market consists of Procedures
1
2
3
4
16. Which one of the following is NOT a condition of a contract?
An offer is made
An acceptance of offer
Contract must be illegal
Consideration is given
17. Which of the following has not yet been empirically established
as a distinguishing characteristic of entrepreneurs?
Locus of control
Feeling about independence
Need for achievement
Risk taking
18. The most important characteristic of a successful business
website is::
Speed
Innovation
Graphics
Products
19. In Focus group discussion carries in
Formal Way
Informal Way
Both of the above
Problematic Way
20. Which of the following factors does not affect a person for
being
an entrepreneur?
Family background
Nationality midterm file
Education
Personal values
21. Which of the following has a contradictory relationship with an
individual for being an entrepreneur?
His birth order
Parents’ social status
Parents’ occupation
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Relationship with parents
22. The commitment of administrative domain to the resources is
for:
Periodic intervals
Total amount needed p 15
For certain tasks
For long time
23. Which of the following grants the owner protection from anyone
else making, using and selling the identified innovation?
Utility patent p 47
Design patent
Plant patent
International patent
24. The startups which rarely go public are called:
Life stylep 8
Foundation Company
Small company
High potential venture
25. In which of the following sources the large positive cash flow
may need to be invested?
Long term
Short termp 78
Average term
None of the above options
26. Which of the following is/are a source of idea generation?
Consumers
Federal government
Brain storming p40
All of the above
27. Which one of the factors should be considered while assessing
the space for business?
Parking
Access from roadways to facility
Delivery rates
All of the given options
28. Which one of the following is NOT the problem in developing
the
economies of different under developed countries?
Gap of knowledge
Variable rate of return
Same communication style p 29
Different accounting system
29. Capital rising entirely depends on the entrepreneur in which of
the following entity?
Corporation
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Sole Proprietorship
Partnership
All of the above p 70
30. The resistance of employees in an organization against
flexibility, growth, and diversification can be overcome by
developing:
Entrepreneurship
Intrapreneurship p 16
Managerial domain
Administrative domain
31. Sales revenue of the internet based business can be projected
from the:
Number of customers
Number of Hits p 78
Number of clicks
All of the above options
32. A short-term, internal source of funds can be obtained by
reducing all of following EXCEPT
Short-term assets
Cash
Fixed assets
Inventory
33. Professional support network includes following EXCEPT:
Personal affiliations
Mentor
Trade associations
Friends
34. Factors contribute to the creation of new venture EXCEPT:
Government
Finance
High interest rates
Role models
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The-Nature-%26-Importance-Of-
Entreprenurs.ppt+Factors+contribute+to+the+creation+of+new+venture+G
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overnment+Role+models+finance+High+interest+rates&cd=7&hl=en&ct=cl
nk&gl=pk
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Hiring a manager
Engaging an attorney
Developing a product
Establishing new venture
An entrepreneur into the hosiery business found out the reason his hosiery was
not selling was due to its color. What could be the best source of this
information? http://www.vustudents.net
Supplier Retailer
Competition
Government bureau
The transitional disturbance and lack of reform has led to boom black market in:
China
Hungary
Singapore
Poland
Page # 38 In Poland, the transitional upheaval and lack of reform has led to a
thriving black market.
Question # 4 of 15 ( Start time: 12:53:48 AM ) Total Marks: 1
Which of the following is NOT a requirement of Disclosure Document?
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Description of the invention
Claims for invention’s usefulness
Photos of invention
Cover letter
The person with capital was differentiated from the one who needed the
capital in the:
Middle ages
17th century
18th century
20th century
page 3 In the 18th century the person with capital was differentiated from
the one who needed capital
The marketing perspective of business plan considers the venture through the
eyes of:
Investor Customer
Entrepreneur
Marketing manager
The marketing perspective considers the venture through the eyes of the
customer p#54
www..net
Question # 7 of 15 ( Start time: 12:58:24 AM ) Total Marks: 1
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Earliest period
19th and 20th century
Middle ages
17th century
Page # 3
Economic
Cultural
Technological
Members of distribution channels are also excellent sources for new ideas
because they are familiar with the needs of the market P#39
Question # 10 of 15 ( Start time: 01:00:27 AM ) Total Marks: 1
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Partnership
Intrapreneurship
Private firms
www..net
Question # 11 of 15 ( Start time: 01:01:29 AM ) Total Marks: 1
The most sensitive plan in the business plan is?
Operational Plan
Production Plan
Marketing Plan
Financial Plan
Periodic intervals
Total amount needed
For certain tasks
For long time
In the administrative domain, the commitment of resources is for the total
amount needed
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77
Which of the following plans help to provide an organization chart indicating the
lines of authority?
Physical Business
Organizational
Marketing
The organizational plan section should describe the venture’s form of ownership.
If the venture is a corporation, this should include the number of shares
authorized, share options, and names and addresses of the directors and officers.
It is helpful to provide an organization chart P#58
1
2
3
4
Indirect exporting
Direct exporting
Importing
Management contract
Direct exporting :Selling goods to another country by taking care of the transaction
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Question # 3 of 15 ( Start time: 01:17:19 AM ) Total Marks: 1
Entrepreneur
Shareholders
Market analysis
Operations plan
Bank loan
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Organizational plan
www..net
Dynamic
Static
Continuous
Systematic
The combining of two or more independent bodies into a single body is known as:
Joint venture
Merger
Rivalry
Protectionist attitudes
An actor and a person who managed large project were termed as the entrepreneur in the
.
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80
Earliest period
Middle ages
17th century
Middle Ages: In this age the term entrepreneur was used to describe both an actor and a
person who managed large production projects
Management contracts
Direct export
Turnkey projects
Pg#31
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81
Front level managers have Skill
Conceptual
Communicational
Technical
8-10 People
10-12 People
12-14 People
14-16 People
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No particular standard
Which one of the following gives suggestions for new product but also helps to market
new product in the market?
Distribution channels
Federal government
Consumers
Distribution Channels Because they are familiar with the needs of the market, channel
members often have suggestions for new products. These channel members can also help
in marketing the new product.
Investor
Marketer
Entrepreneur
Consultant
Which one of the Following is the way by which an entrepreneur can enter into
international business?
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83
Export
The evaluation criteria for the new product should include all of the following, EXCEPT:
Understands environment
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Encourage the team work
Not flexible
Persistent
www..net
Need of fame
The plan describes how the product will be distributed and priced.
Financial
Production
Venture
Marketing
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Question # 13 of 15 ( Start time: 01:37:45 AM ) Total Marks: 1
Which of the following is the best option for starting the business with equity financing?
Corporation
Partnership firm
Sole Proprietor
Location
Products offered
History
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Product should be profitable
Which of the following contains all backup material that is not included in the text of
business plan?
Select correct option:
History of entrepreneur
Financial plan
Appendix
Bibliography
The appendix contains any backup material not included in the text of the document
Entrepreneurship
Intrapreneurship
Act of stating a new venture
Offering new products by an existing company
Intrapreneurship, also called corporate venturing, is not without problems P#21
Balance of debt
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87
An entrepreneur doing business within the national border is called:
Select correct option:
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
Real estates
Lease
Rentals
Consumers
Brain storming
Focus group
Spouses
Friends
Business associates
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Relatives
Middle ages
17th century
18th century
20th century
In the 18th century the person with capital was differentiated from the one who needed
capital
Before preparing a business plan, the entrepreneur should do a quick feasibility study to see
if there are possible barriers to success
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89
Question No: 1 ( Marks: 1 ) - Please choose one
There is an evidence that an entrepreneur usually has
parents.
Self employed
Discouraged
Non supportive
Strict
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 of the following techniques is an excellent method for initial screening
of ideas and concepts?
Focus group
Problem inventory analysis (Doubtful) page 35
Brain storming
Reverse brainstorming
Question No: 4 ( 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: 5 ( 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: 6 ( Marks: 1 ) - Please choose one
Which of the following is used by entrepreneurs to acquire experience in an
international market before making a major commitment?
Merger
Joint venture
Minority interest
Majority interest
Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following plan shows the economically feasibility of business?
http://www.vustudents.net
90
Business
Financial
Economic
Marketing
Question No: 8 ( Marks: 1 ) - Please choose one
What are the number of questions a marketing plan usually answers?
5
2
3
4
Question No: 9 ( Marks: 1 ) - Please choose one
Which of the following allows the entrepreneur to establish controls on the
process during the implementation of the marketing plan?
Sales data
Research data
Consumer data
Technical data (Doubtful)
Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following shows the characteristic of the venture that has
experience in related business?
Strength
Weakness
Opportunity
Threat
Question No: 11 ( Marks: 1 ) - Please choose one
Advertising and promotion for the business-to-business market involve all of
the following EXCEPT:
Indirect sales page 59
Trade magazine advertising
Direct sales
Trade shows
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following shows the characteristic of the venture that has
experience in related business?
Strength
Weakness
Opportunity
Threat
Question No: 13 ( Marks: 1 ) - Please choose one
In which of the following, banks are usually reluctant to give loan?
Sole Proprietor
Public Limited Companies
Partnership firm
Private Limited Companies
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91
Question No: 14 ( Marks: 1 ) - Please choose one
In which of the following majority holds the management control?
Partnership page 63
Corporation
Limited liability company
All of the given options
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following represents the shares in borrowing of Large
Enterprises in Pakistan?
68%
65%
66%
67%
Question No: 16 ( Marks: 1 ) - Please choose one
Which of the following represents the environment in which entrepreneurship
can’t grow?
Boom
Vacuum
Maturity
Introductory Phase
Question No: 17 ( Marks: 1 ) - Please choose one
"What the entrepreneur hopes to accomplish" includes in which section of
business plan?
Vision statement
Mission Statement
Goal Statement
All of the above
Question No: 18 ( Marks: 1 ) - Please choose one
Which of the following shows the standard acceptable term of a Limited
Liability Company?
Three
Ten
Twenty
Thirty
Question No: 19 ( Marks: 1 ) - Please choose one
Which one of the following provides a guideline in determining hiring
procedures?
Job description
Job specification
Job analysis
Job evaluation
Question No: 20 ( Marks: 1 ) - Please choose one
The S corporation combines the tax advantages of which one of the
following?
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92
Proprietorship and limited liability company
Partnership and corporation
Corporation and limited liability company
Partnership and proprietorship
Question No: 21 ( Marks: 1 ) - Please choose one
Which of the following is the base of Job Advertisement?
Job Description
Job Specification
Job identification
All of the above options
Question No: 22 ( Marks: 1 ) - Please choose one
Which of the following shows the results from the difference between actual
cash receipts and cash payments?
Revenue
Profit
Cash flow
Income statement
Question No: 23 ( Marks: 1 ) - Please choose one
What is the primary concern of entrepreneurs, who trade equity for their
growing venture?
Control
Valuation
Investor capabilities
Capitalization page 85
Question No: 24 ( Marks: 1 ) - Please choose one
When the business does not have assets to support a loan, the entrepreneur
may go for which one of the following options?
Character loan
Straight commercial loan
Installment loan
Long term loan
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following number of years a mortgage loan may possibly cover?
10
20
30 Google search
40
Question No: 26 ( Marks: 1 ) - Please choose one
In which of the following techniques, money is given to a firm for developing
a technology and involves a tax shelter?
Small business administration loans
Cash flow financing
Small business innovation research grant
Research and development limited partnership
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93
Question No: 27 ( Marks: 1 ) - Please choose one
The overall coordinating party in an agreement is:
Limited partner
Major partner
Minor partner
General partner
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following includes grants from the U.S. government to small
technology based businesses?
Small business administration loans
Small business innovation research grant
Research and development limited partnership
Installment loans
Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following is a formalized method for obtaining funds from
private investors?
Private placement
Private offering
Regulation D
Bootstrap financing
Question No: 30 ( Marks: 1 ) - Please choose one
When did the Sindh Small Industries Corporation launch its credit scheme?
1972-73
1978-79
1988-89
1992-93
Question No: 31 ( Marks: 1 ) - Please choose one
Which of the following is a type of leverage ratio?
Debt ratio
Net profit margin
Return on investment
Current ratio
Question No: 32 ( Marks: 1 ) - Please choose one
The mean age of entrepreneurial enterprises in Pakistan is:
12 years
15 years
20 years
22 years
Question No: 33 ( Marks: 1 ) - Please choose one
In most cases, the venture capitalist:
Seeks control of the company
Never expects a seat on the board of directors
Expects the management team to run the daily operations (doubtful)
Prefers not to interfere in planning and expertise areas
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94
Question No: 34 ( Marks: 1 ) - Please choose one
Conflicts in Management thoughts and Entrepreneur thoughts are resolved
by which of the following company?
Xerox page 15
Unilever
Walls
Volta
Question No: 35 ( Marks: 1 ) - Please choose one
The entrepreneur must possess the abilities:
Creative
Conceptualization
Understanding environment
All of the given options
Question No: 36 ( Marks: 1 ) - Please choose one
In which of the following era entrepreneur enters into a contract with
government to perform a service?
20th century
Earliest period
Middle ages
17th century
Question No: 37 ( 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: 38 ( Marks: 1 ) - Please choose one
In entrepreneurial domain the commitment to opportunity has short time
span but in managerial domain it is:
For 1 month
For 6 months
For long time span
For 1 year
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Trade associations
Friends
1. Disclosure document
2. Patent
3. Intellectual property
4. None of the mentioned
5.
6. 2. The organization will never be able to make the necessary changes
without
1. Entrepreneurial domain.
2. Reverse brain storming
3. Heuristics
4. d.Reverse brain storming
5.
5. A word, symbol, name or device that a business uses
to identify its goods.
1. A feeling
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2. Attitude
3. Attribute
4. None of the above
5.
6. 7 Licensing arrangements have
1. Understanding environment
2. Creating management options
3. Encourage open discussion
4. All of the above
5.
6.
7. 9.International entrepreneurship is
1. Licensing
2. Exporting
3. Both of the mentioned options
4. None of the two mentioned
1. Synergy
2. Turn key point
3. Trade barrier
4. Minority interest
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1. One effective way to begin the marketing plan is
2. A focus group
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98
b. It identifies the major interacting components, both internal
and external
c. It’s about the financial needs of the venture
d. None of the options given
a. How much and when the funds are coming into the
organization.
b. Where the funds are going.
c. How much cash is available?
d. Al of the options given
c. Cash flow results from the difference between all cash available and
cash pay ments.
d. Cash flows only when actual payments are not made but only
received.
10. Which of the statement is not true?
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99
d. Limited liability Company (LLC) offers similar
disadvantages as the S Corpora tion
Question No: 1 ( Marks: 1 ) - Please choose one
There is an evidence that an entrepreneur usually has
parents.
Self employed
Discouraged
Non supportive
Strict
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 of the following techniques is an excellent method for initial screening
of ideas and concepts?
Focus group
Problem inventory analysis (Doubtful) page 35
Brain storming
Reverse brainstorming
Question No: 4 ( 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: 5 ( 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: 6 ( Marks: 1 ) - Please choose one
Which of the following is used by entrepreneurs to acquire experience in an
international market before making a major commitment?
Merger
Joint venture
Minority interest
Majority interest
http://www.vustudents.net
100
Question No: 7 ( Marks: 1 ) - Please choose one
Which of the following plan shows the economically feasibility of business?
Business
Financial
Economic
Marketing
Question No: 8 ( Marks: 1 ) - Please choose one
What are the number of questions a marketing plan usually answers?
5
2
3
4
Question No: 9 ( Marks: 1 ) - Please choose one
Which of the following allows the entrepreneur to establish controls on the
process during the implementation of the marketing plan?
Sales data
Research data
Consumer data
Technical data (Doubtful)
Question No: 10 ( Marks: 1 ) - Please choose one
Which of the following shows the characteristic of the venture that has
experience in related business?
Strength
Weakness
Opportunity
Threat
Question No: 11 ( Marks: 1 ) - Please choose one
Advertising and promotion for the business-to-business market involve all of
the following EXCEPT:
Indirect sales page 59
Trade magazine advertising
Direct sales
Trade shows
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following shows the characteristic of the venture that has
experience in related business?
Strength
Weakness
Opportunity
Threat
Question No: 13 ( Marks: 1 ) - Please choose one
In which of the following, banks are usually reluctant to give loan?
Sole Proprietor
Public Limited Companies
http://www.vustudents.net
101
Partnership firm
Private Limited Companies
Question No: 14 ( Marks: 1 ) - Please choose one
In which of the following majority holds the management control?
Partnership page 63
Corporation
Limited liability company
All of the given options
Question No: 15 ( Marks: 1 ) - Please choose one
Which of the following represents the shares in borrowing of Large
Enterprises in Pakistan?
68%
65%
66%
67%
Question No: 16 ( Marks: 1 ) - Please choose one
Which of the following represents the environment in which entrepreneurship
can’t grow?
Boom
Vacuum
Maturity
Introductory Phase
Question No: 17 ( Marks: 1 ) - Please choose one
"What the entrepreneur hopes to accomplish" includes in which section of
business plan?
Vision statement
Mission Statement
Goal Statement
All of the above
Question No: 18 ( Marks: 1 ) - Please choose one
Which of the following shows the standard acceptable term of a Limited
Liability Company?
Three
Ten
Twenty
Thirty
Question No: 19 ( Marks: 1 ) - Please choose one
Which one of the following provides a guideline in determining hiring
procedures?
Job description
Job specification
Job analysis
Job evaluation
Question No: 20 ( Marks: 1 ) - Please choose one
http://www.vustudents.net
102
The S corporation combines the tax advantages of which one of the
following?
Proprietorship and limited liability company
Partnership and corporation
Corporation and limited liability company
Partnership and proprietorship
Question No: 21 ( Marks: 1 ) - Please choose one
Which of the following is the base of Job Advertisement?
Job Description
Job Specification
Job identification
All of the above options
Question No: 22 ( Marks: 1 ) - Please choose one
Which of the following shows the results from the difference between actual
cash receipts and cash payments?
Revenue
Profit
Cash flow
Income statement
Question No: 23 ( Marks: 1 ) - Please choose one
What is the primary concern of entrepreneurs, who trade equity for their
growing venture?
Control
Valuation
Investor capabilities
Capitalization page 85
Question No: 24 ( Marks: 1 ) - Please choose one
When the business does not have assets to support a loan, the entrepreneur
may go for which one of the following options?
Character loan
Straight commercial loan
Installment loan
Long term loan
Question No: 25 ( Marks: 1 ) - Please choose one
Which of the following number of years a mortgage loan may possibly cover?
10
20
30 Google search
40
Question No: 26 ( Marks: 1 ) - Please choose one
In which of the following techniques, money is given to a firm for developing
a technology and involves a tax shelter?
Small business administration loans
Cash flow financing
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Small business innovation research grant
Research and development limited partnership
Question No: 27 ( Marks: 1 ) - Please choose one
The overall coordinating party in an agreement is:
Limited partner
Major partner
Minor partner
General partner
Question No: 28 ( Marks: 1 ) - Please choose one
Which of the following includes grants from the U.S. government to small
technology based businesses?
Small business administration loans
Small business innovation research grant
Research and development limited partnership
Installment loans
Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following is a formalized method for obtaining funds from
private investors?
Private placement
Private offering
Regulation D
Bootstrap financing
Question No: 30 ( Marks: 1 ) - Please choose one
When did the Sindh Small Industries Corporation launch its credit scheme?
1972-73
1978-79
1988-89
1992-93
Question No: 31 ( Marks: 1 ) - Please choose one
Which of the following is a type of leverage ratio?
Debt ratio
Net profit margin
Return on investment
Current ratio
Question No: 32 ( Marks: 1 ) - Please choose one
The mean age of entrepreneurial enterprises in Pakistan is:
12 years
15 years
20 years
22 years
Question No: 33 ( Marks: 1 ) - Please choose one
In most cases, the venture capitalist:
Seeks control of the company
Never expects a seat on the board of directors
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Expects the management team to run the daily operations (doubtful)
Prefers not to interfere in planning and expertise areas
Question No: 34 ( Marks: 1 ) - Please choose one
Conflicts in Management thoughts and Entrepreneur thoughts are resolved
by which of the following company? http://www.vustudents.net
Xerox page 15
Unilever
Walls
Volta
Question No: 35 ( Marks: 1 ) - Please choose one
The entrepreneur must possess the abilities:
Creative
Conceptualization
Understanding environment
All of the given options
Question No: 36 ( Marks: 1 ) - Please choose one
In which of the following era entrepreneur enters into a contract with
government to perform a service?
20th century
Earliest period
Middle ages
17th century
Question No: 37 ( 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: 38 ( Marks: 1 ) - Please choose one
In entrepreneurial domain the commitment to opportunity has short time
span but in managerial domain it is:
For 1 month
For 6 months
For long time span
For 1 year
Question No: 39 ( Marks: 1 ) - Please choose one
Moral support network includes all of the following EXCEPT:
Spouses
Friends
Business associates
Relatives
Question No: 40 ( Marks: 1 ) - Please choose one
Professional support network includes all of the following EXCEPT:
Personal affiliations
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Mentor
Trade associations
Friends
Question No: 41 ( Marks: 5 )
Differentiate the operating budget from capital budget?
Question No: 42 ( Marks: 5 )
It is said that advertising agencies are meant for the promotional tools. Why
do you think that it is a correct statement?
Question No: 43 ( Marks: 10 )
An "S Corporation" is a corporation which has elected to have its profits pass
through to its shareholders, in the same manner as a partnership or sole
proprietorship. Write down the pros and cons of "S Corporation".
Question No: 44 ( Marks: 10 )
Suppose you want to calculate the net worth of your business. What kind of
statement will you use in order to calculate the net profit? Also discuss its
key feature.
Question No: 45 ( Marks: 10 )
Product or service is the basis of building the marketing plan. What are the
major factors which should be included while writing the marketing plan of a
product or service?
Role models
Professional-support network
Parents
None of the mentioned options
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Lower management intrapreneur
Upper management intrapreneur
Licensing
Turn-key projects
Management contracts
None of the mentioned options
Chronological age
True
False
True
False
True
False
True
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False
6) 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
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A patent is granted for a specified amount of time because of the
assumption:
That during this time firm will cover its development costs
That firm will earn a sufficient profit during this period
To limit the monopoly of the firm
That it will stimulate idea and development of a better product
Hiring a manager
Engaging an attorney
Developing a product
Establishing new venture
New regulations
Competition
Social changes
Manufacturing
Which one of the Following is the way by which an entrepreneur can enter
into international business?
Select correct option:
Export
Non equity arrangements
Direct foreign investment
All of the given options
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An offer is made
An acceptance of offer
Contract must be illegal
Consideration is given
Merger
Joint venture
Minority interest
Majority interest
International entrepreneurship
Intrapreneurship
Domestic entrepreneurship
Imports
Which of the following grants the owner protection from anyone else
making, using and selling the identified innovation?
Select correct option:
Utility patent
Design patent
Plant patent
International patent
Consumers
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Brain storming
Focus group
None of the given options
Quite confusing question Answer Required
The product life cycle starts with which stage of product planning and
development process?
Select correct option:
The creative process for problem solving that involves making the strange
familiar in first step and then making the familiar strange through personal,
direct or symbolic analogy is called:
Select correct option:
Select correct option:
Synectics
Gordon method
Checklist method
Scientific method
Europe
The Far East
Central Asia
Transition economies
In an international perspective, which of the following decisions are NOT
covered under strategic planning of an entrepreneur?
Select correct option:
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What are the company’s major strengths and weaknesses?
Life insurance
Property insurance
Disability and vehicle coverage
Health care coverage
Go for mergers
Diversify
Decentralize operations
Sale out the foreign business
Entrepreneurship(MGT602)
Recent Online Quiz No 2
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The creative process for problem solvin that involves makin the stranefamiliar in first step
and then makin the familiar strane throuh personal, direct or symbolic analoy is called:
Select correct option:
Synectics ordon
method Checklist
method
Scientific method Bottom of Form
Location Products
offered History
All of the iven options
Computer software
Computer hardware
Poems and sons
Models and sculpture
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What are the company’s major strenths and weaknesses?
Real estates
Lease
Rentals
All of the iven options
Parkin
Access from roadways to facility
Delivery rates
All of the iven options
Scientific method
Heuristics
Attribute listin
Value analysis
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Hirin a manaer Enain an
attorney Developin a
product Establishin new
venture
Consumers
Federal overnment
Brain stormin
All of the above
Concept
Product development
Test marketin
Commercialization
Licensin
Manaement contracts
Direct export
Turnkey projects
Plannin
Diversification
Reportin not sure
Control
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One insured participants
Ten participants
Lare roup of participants
Very small roup of participants
21) 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
23) According to the governing bodies of common laws, the life of trade secret is:
Select correct option:
12 years
17 years
20 years
As long as it remains confidential
18th century
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17th century
Middle ages
Individuals influencing an entrepreneur’s career choice and style are known as:
Select correct option:
Role model
Moral-support network
Support system
Ref:
Role models
Individuals influencing an entrepreneur’s career choice and style
The person with capital was differentiated from the one who needed the capital in the:
Select correct option:
Middle ages
17th century
18th century
20th century
Ref:
In the 18th century the person with capital was differentiated from the one who needed
capital. In other words, entrepreneur was distinguished from the capital provider.
Many of the inventions developed during this time as was the case with the inventions
of Eli Whitney and Thomas Edison were unable to finance invention themselves. Both
were capital users (entrepreneurs), not capital providers (venture capitalists.) Whitney
used expropriated crown property. Edison raised capital from private sources.
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Which one of the following is the next stage to the Concept Stage of Product Planning
and Development Process?
Select correct option:
Idea Stage
Ref:
Concept Stage
In the concept stage the refined idea is tested to determine consumer acceptance
without manufacturing it. One method of testing is the conversational interview in which
respondents are exposed to statements that reflect attributes of the product. Features,
price, and promotion should be evaluated in comparison to major competitors to
indicate deficiencies or benefits. The relative advantages of the new product versus
competitors should be determined.
Product Development Stage
In this stage, consumer reaction is determined, often through a consumer panel. The
panel can be given samples of the product and competitors’ products to determine
consumer preference. Participants keep the record of their use of product and comment
on its virtues and deficiencies.
Investor
Marketer
Entrepreneur
Consultant
Ref:
Bankers say that most businesses fail because of the
entrepreneur’s inability to plan effectively. The entrepreneur can enhance efficient
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Select correct option:
Ref:
Before preparing a business plan, the entrepreneur should do a quick feasibility study to
see if there are possible barriers to success
A feedback loop
Ref: http://highered.mcgraw-
hill.com/sites/0073210560/student_view0/chapters13/mixed_quiz.html
flow Employees
loyalty Business
ideas Economy
An ice cream producing company merges with a cotton spinning company this merger is
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119
an example of:
Select correct option:
Vertical merger
Ref:
A diversified activity merger is a conglomerate merger involving the consolidation of two
unrelated firms.
Banks are usually reluctant to give loan to the
Select correct option:
Partnership firm
Sole Proprietor
Joint venture
Management contracts
Minority interest
Merger
Ref:
Management contracts
Entrepreneurs can contract their management techniques and skills, often following a
turn-key project. The management contract allows the purchasing country to gain
foreign expertise without turning ownership over to a foreigner
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Use intellectual property of others
Ref:
LICENSING Licensing is an arrangement between two parties, where one party has
proprietary rights protected by a patent, trademark, or copyright. This requires the
licensee to pay a royalty to the holder of the proprietary rights in return for permission to
copy the
Which one of the following culture that has a climate and reward system that favor
conservative decision making?
Select correct option:
Entrepreneurial
Intrapreneurial
Corporate
Ref:
The typical corporate culture has a climate and reward system that favors conservative
decision making. Emphasis is on gathering large amounts of data as the basis for a
rational decision. Risky decisions are often postponed until hard facts are gathered or a
consultant is hired. Often there are so many approvals required that no individual feels
personally responsible for the
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Which one of the following is the first step in the entrepreneurial process?
Select correct option:
According to the
Select correct governing bodies of common laws, the life of trade secret is:
option:
12 years
17 years
20 years
Speed
Innovation
Graphics
Products
Developing a new
Select correct idea through inquiry and testing is called:
option:
Heuristics
Forced relationship
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Scientific method
Value analysis
Personal affiliations
Mentor
Trade associations
Friends
Consumers
Brain storming
Focus group
None of the given options
Which one of the following is a sound strategic option for an entrepreneur when synergy is
present?
Select correct option:
Merger
Joint venture
Minority interest
Majority interest
Ref:
Two firms get together and form a third company in which they share the equity. Joint
ventures have been used by entrepreneurs in two situations:
1. When the entrepreneur wants to purchase local knowledge and an established
facility.
2. When rapid entry into a market it needed. The keys to success of joint ventures have
not been well understood. Reasons for forming a joint venture today are different than
those in the past. Originally, joint ventures were used for trading purposes and were one
of the oldest ways of transacting business. Joint ventures in the U.S. took the form of
vertical joint ventures used by mining concerns and railroads. Motives for the significant
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123
increase in the use of joint ventures:
a. To share the costs and risks of an uncertain project.
b. ToTo gain synergy between the two firms.
Which of the following conversion system is most complex and requires careful
evaluation of inventory?
Select correct option:
FIFO to LIFO
LIFO to FIFO
No particular standard
In which of the following business, the records are needed to be maintained on the
basis of monthly charges paid by the customers?
Select correct option:
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124
Pharmaceutical
Service venture
Online venture
Auto industry
Which of the following budget is required for the purchase of new equipment?
Select correct option:
Sales Budget
Operational Budget
Capital Budget
Manufacturing Budget
Ref:
A capital budget may project expenditures for new equipment, vehicles, or new facilities
Self employed
Discouraged
Non supportive
Strict
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The session should be fun, with no on dominating the discussion
Select
The correct option:
plan describes how the product will be distributed and priced.
Financial
Production
Venture
Marketing
Economic
Cultural
Technological
Locus of control
Locomotion of control
Locust of control
Loss of control
Personal relationship
Ability to pay back loan
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Progress of the venture
No concern
Fashion
winding up company
Which one of the following ratios is a more careful test of the short-term liquidity of the
venture?
Select correct option:
Debt ratio
Activity ratio
Profitability ratio
Ref:
Acid test ratio is a more rigorous test of the short-term liquidity of the venture
Which of the following gives the owners a negative right, preventing anyone from
making, using, or selling the invention?
Select correct option: http://www.vustudents.net
Patent
Copyright
Trade mark
Trade secret
Which of the following contains all backup material that is not included in the text of
business plan?
Select correct option:
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History of entrepreneur
Financial plan
Appendix
Bibliography
Periodic intervals
1972
1973
1975
1976
Which of the following is the best option for starting the business with equity financing?
Select correct option:
Sole Proprietor
Corporation
Partnership firm
None of the above
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Official Gazette
What can be the effect on cash flows due to delays in payments by the clients?
Ref:
Using internal credit makes the firm responsible for collecting delinquent payments, and
payment delays can create negative cash flows.
All of the following are essential to maintain secrecy EXCEPT:
Select correct option:
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129
Use simple security such as locked file cabinets
Select
Andrewcorrect option:
Carnegie is an example of entrepreneur of which century:
Earliest period
19th and 20th century
Middle ages
17th century
The activity which occurs when the new venture is started are called:
Select correct option:
Motivation
Business skills
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Departure point
Goal orientation
Which statement of the following relates with the ultimate goal of Business
Select correct option:
Profit Statement
Goal Statement
Mission Statement
Vision Statemen
Which one of the following is the systematic assembly of all the facts about a job?
Select correct option:
Job Specification
Job Description
Job Identification
Job Analysis
Management commitment
Technology
More productivity
In which rule under ‘Regulation-D’, a company can sell up to $500,000 of securities to
any number of investors in any 12-month period?
Select correct option:
Rule 502
Rule 503
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Rule 504
Rule 505
Ref:
Under Rule 504 a company can sell up to $500,000 of securities to any number of
investors in any 12-month period.
Ref:
Liquidity Ratios Current ratio is commonly used to measure the short-term solvency of
the venture or its ability to meet its short-term debts. The current liabilities must be
covered from cash or its equivalent
On the part of entrepreneur which of the following has/ have a great concern to the
Investors
Select correct option:
Experience
Commitment
Knowledge
All of the above
Independence
Achievement
Affiliation
Authority
Ref:
Need for independence. Being one’s own boss-one of the strongest needs of an
entrepreneur
An actor and a person who managed large project were termed as the entrepreneur in the
.
Select correct option:
Earliest period
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Middle ages
17th century
19th and 20th century
Ref:
Middle Ages
In this age the term entrepreneur was used to describe both an actor and a person who
managed large production projects. In such large production projects, this person did
not take any risks, managing the project with the resources provided. A typical
entrepreneur was the cleric who managed architectural projects.
The evaluation criteria for the new product should include all of the
following, EXCEPT:
Entrepreneurs
Consultants
Engineers
Small business administration services
Ref:
A business plan is a written document prepared by the entrepreneur
Sole Proprietor
General Partnership
Limited Partnership
Corporation
Ref:
Corporations distribute profits through dividends to stockholders.
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Select correct option:
Real State
Shares
Tangible property
All of the given options
Ref:
The collateral or tangible assets being secured
Which one of the following culture that has a climate and reward system that favor
conservative decision making?
Select correct option:
Entrepreneurial
Intrapreneurial
Corporate
None of the given options
Ref:
The typical corporate culture has a climate and reward system that favors conservative
decision making.
Ref:
Without top management commitment, the organization will never be able to make the
necessary changes.
When the multiplicity of environments become too complex to handle, the international
entrepreneurs often .
Select correct option:
Go for mergers
Diversify
Decentralize operations
Sale out the foreign business
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Question No: 41 ( Marks: 5 )
Differentiate the operating budget from capital budget?
Question No: 42 ( Marks: 5 )
It is said that advertising agencies are meant for the promotional tools. Why
do you think that it is a correct statement?
Question No: 43 ( Marks: 10 )
An "S Corporation" is a corporation which has elected to have its profits pass
through to its shareholders, in the same manner as a partnership or sole
proprietorship. Write down the pros and cons of "S Corporation".
Question No: 44 ( Marks: 10 )
Suppose you want to calculate the net worth of your business. What kind of
statement will you use in order to calculate the net profit? Also discuss its
key feature.
Question No: 45 ( Marks: 10 )
Product or service is the basis of building the marketing plan. What are the
major factors which should be included while writing the marketing plan of a
product or service?
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