MGT602 Mid Spring 2010

Question No: 1

( Marks: 1 )

- Please choose one

Individuals who help the entrepreneur in business activities are called:

Role models

Moral support networks Professional support networks (page 25) Business support networks

Question No: 2

( Marks: 1 )

- Please choose one

Following are the problems in developing the economies E !EP":

Gap of knowledge

Variable rate of return #a$e co$$unication st%le( Page No& 2') Different accounting system

Question No: (

( Marks: 1 )

- Please choose one

hich one the following is the best protection against product liability!

Avoid negligence

 )arn consu$ers of an% potential ha*ar+s "Page No& 52) #ive warranty $void misrepresentation

Question No: ,

( Marks: 1 )

- Please choose one

hich one of the following reviews the trends and competitive strategies!

Environmental analysis Page No. 57

%roduct forecast &ontingency plan Industry analysis

Question No: 5

( Marks: 1 )

- Please choose one

$ utility patent has a term of:

10 years

,- %ears 2- %ears Page No& ,. '( years

Question No: .

( Marks: 1 )

- Please choose one

hich of the following body issues patents!

 GATT

)$F*$ F*$ P"/ Page No& ,.

Question No: 0

( Marks: 1 )

- Please choose one

hich of the following is a more structured method of problem solving+ including principles and rules for concept formation+ making observations and e,periments+ and finally validating the hypothesis!

S ienti!i met"od #Page No. $1%

-euristics $ttribute listing Value analysis

Question No: 1

( Marks: 1 )

- Please choose one

hich one of the following gives suggestions for new product and also help to market new products!

Existing products and services

2istri3ution channels (Page No& (1) Federal government &onsumers

Question No: '

( Marks: 1 )

- Please choose one

#$** is established in ./01+ under:

German leadership

French leadership 4&#& lea+ership 2343 leadership

http !!www"google"com"pk!search#client$firefox%a&rls$org"mo'illa()Aen%*+ ()Aofficial&channel$s&hl$en&source$hp&,$GATT-is-esta.lished-in-1/01(23-u nder()A----------(E2(/4(5A-German-leadership---------(E2(/4(5A-6rench-leadership--------(E2(/4(5A-*"+"-leadership(278ot-+ure(2/--------(E2(/4(5A-*"9" -leadership&meta$&.tnG$Google-+earch

Question No: 1-

( Marks: 1 )

- Please choose one

Factors contribute to the creation of new venture E !EP":

Government

Finance 5igh interest rates 5ole models

Question No: 11

( Marks: 1 )

- Please choose one

$ foundation company is formed through which of the following!

 Fashion Most popular business $ winding up company 6esearch an+ +e7elop$ent (Page No& 0)

Question No: 12

( Marks: 1 )

- Please choose one

hich one of the following is the primary cause of failure in small businesses!

:oor financial control

%oor location Manage$ent $istakes Improper inventory control http:66www3scribd3com6doc67./88..86M$549*I)#:*9;*:(0<:9,am:=uestions:$nswers

Question No: 1(

( Marks: 1 )

- Please choose one

hich of the following is a fourth step in the entrepreneurial process! Developing successful business ideas Deciding to become an entrepreneur 8rowing the entrepreneurial fir$ Moving from an idea to an entrepreneurial firm

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Question No: 1,

( Marks: 1 )

- Please choose one

hich one of the following is N/" a phase of entrepreneurial process!

=dentification and evaluation of opportunity

Development of business plan 2eci+ing to 3eco$e an entrepreneur (page 1( an+ 1,) Determination of re>uired resources

Question No: 15

( Marks: 1 )

- Please choose one

hich one of the following is not the entrepreneurial leadership characteristic!

*nderstands environment

9ncourage the team work Not fle9i3le (page 2-) %ersistent

Question No: 1.

( Marks: 1 )

- Please choose one

hich of the following system is necessary for e,pansion or elimination of intrapreneurial units!

Management #page 1& and 20%

9valuation

 5eward *raining

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This expansion is attained through the infusion of the intrapreneurial management strategy

Question No: 10

( Marks: 1 )

- Please choose one

hich of the following factor does not affect a person for being an entrepreneur!

Nationalit% (page 2,) 9ducation %ersonal values ork history

Question No: 11

( Marks: 1 )

- Please choose one

%rofessional support network includes all of the following E !EP":

:ersonal affiliations

Mentor *rade associations :rien+s (Page No& 2.)

Question No: 1'

( Marks: 1 )

- Please choose one

Following are the types of foreign direct investment E !EP":

>oint venture

?anagement contracts @:age )1A

Minority interest Merger

Question No: 2-

( Marks: 1 )

- Please choose one

Following are the types of non:e>uity arrangements E !EP": @icensing Management contracts 2irect e9port (Page (1) *urnkey pro?ects

Question No: 21

( Marks: 1 )

- Please choose one

$ccording to which of the following+ an entrepreneur is the person who brings resources+ labor+ materials and other assets into combinations that increase their value! Econo$ist (Page No& ,) %sychologist Businessman ;ociologist

Question No: 22

( Marks: 1 )

- Please choose one

hich of the following abilities must be possessed by an entrepreneur!

3reative

 &onceptualiCation 2nderstanding environment ;ll of the gi7en options

Question No: 2(

( Marks: 1 )

- Please choose one

hich of the following options can be very helpful to start:up new ventures! ;eed &apital <nfrastructure correct *echnology 9,perience #oogle ;earch: )ew ventures needing capital must depend on a well documented and fre>uently updated plan3 *he ob?ectives are two fold3 :irst+ to give prospective investors a realistic valuation of the feasibility and risks involved with a thorough analysis of capital needs and applications3 #econ+l%+ to provide the entrepreneurial team with a detailed operational guideline )ikiPe+ia: =enture capital "also known as =! or =entureD is provided as seed funding to early:stage+ high:potential+ growth companies and more often after the seed funding round as growth funding round Question No: 2, ( Marks: 1 ) - Please choose one hich of the following

$ccording to -enning and Bardim+ female e,ecutives tend to be the firstborn3 supports this research! Because firstborn has to be more responsible Because firstborn needs special care >ecause first3orn ten+s to 3e $ore fle9i3le (correct) >ecause first3orn recei7es special attention

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Question No: 25

( Marks: 1 )

- Please choose one hich of the

In terms of personality+ there are strong similarities between men and women entrepreneurs3 following +oes not refer to this statement! Both are energetic Both are goal oriented *hey want to be independent Males are $ore confi+ent than wo$en (page 20)

Question No: 2.

( Marks: 1 )

- Please choose one

hich of the following businesses women entrepreneurs prefer to start! Manufacturing &onstruction E+ucational ser7ices (page 1-) -igh:technology fields

T"is "ig" ed' ation level o! t"e (omen entreprene'rs and t"eir parents is re!le ted ... Ed' ational Servi es )a(*Medi al Servi es +istri,'tion and -onstr' tion ... !indings t"at entreprene'rs tend to start ,'sinesses in !ields in ("i " t"ey.... Some (omen entreprene'rs may pre!er to maintain small. easy/to/ manage...

Question No: 20

( Marks: 1 )

- Please choose one

E%aying for goods indirectly through another sourceF refers to: Barter *rading "hir+-part% arrange$ent (Page No& (.) Balance of payment

Question No: 21

( Marks: 1 )

- Please choose one

hich of the following best defines Ediversified activity mergerF! It refers to combining two firms with noncompeting products It refers to forming a third company by combining two companies <t refers to co$3ining at least two totall% unrelate+ fir$s (Page No& (2) It refers to combining at least two firms at different market levels

Question No: 2'

( Marks: 1 )

- Please choose one

hich of the following statements best defines EbrainstormingF! It refers to groups of individuals providing in a structured format <t refers to a group $etho+ for o3taining new i+eas an+ solutions (Page ,-) It refers to a method for obtaining new ideas and solutions by focusing on problems It refers to a method for obtaining new ideas focusing on the parameters

Question No: (-

( Marks: 1 )

- Please choose one

Identify the statement which refers to ElicensingF3 It grants holder protection from others making+ using or selling similar idea It may be a word+ symbol+ design or some combination that identifies the source of certain goods It protects original works of authorship <t is a contractual agree$ent gi7ing rights to others to use intellectual propert% in return for a ro%alt% or fee (Page No& 5()

Question No: (1

( Marks: 1 )

- Please choose one

hich of the following denote no relationship between the mark and the goods or services! !oine+ $arks Page No&,' $rbitrary marks ;uggestive marks

 Descriptive marks

Question No: (2

( Marks: 1 )

- Please choose one

hich of the following trademarks is used to suggest certain features+ >ualities+ ingredients or characteristics of a product or service! &oined mark $rbitrary mark #uggesti7e $ark Page No& ,' Descriptive mark

Question No: ((

( Marks: 1 )

- Please choose one

Data that support the opportunity for the venture should be briefly stated in the e,ecutive summary3 If this venture is an internet business+ all of the following facts should be stated by an entrepreneur 9G&9%*: #rowth in the number of internet users #rowth in the average amount of time spent on the internet #rowth in sales dollars generated on the internet 8rowth rate of population

Question No: (,

( Marks: 1 )

- Please choose one

hich of the following make the business plan difficult to control and implement! "oo general goals an+ o3?ecti7es *oo specific goals and ob?ectives 5ealistic goals and ob?ectives )one of the given options

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Question No: (5

( Marks: ( )

Describe any three issues that should be addressed in e,ecutive summary3

1. 3rie! des ription o! t"e ,'siness on ept 2. 4ny data t"at s'pport t"e opport'nity !or t"e vent're. 5. Statement o! yo' t"is opport'nity (ill ,e p'rs'ed.

Question No: (.

( Marks: 5 )

Briefly discuss the status of entrepreneurship in 9urope3

E'rope 1" Europe has only recently .ecome interested in entrepreneurship" 2" Risk taking has .een discouraged and .usiness failure considered a social disgrace" )" +everal changes in the social and political climate have changed this traditionalM security% conscious culture" 0" Exemplifying this new thinking are academicsM especially scientists and engineers" <" Today more individuals are emerging in .oth academic circles and large companies who are look for a challenge" 4" 8ew government policies are making it easier to raise money for starting up .usinesses" 1" The *"9" created the 5usiness Expansion +cheme in 1/7) to provide capital to new .usiness ventures" 7" =n 6rance several economic and social factors cause difficulties" /" Nenture capital is managed .y .ankersM who are risk averse"

10" Another hurdle is the 6rench contempt for .oth failure and success" 11" Research in =reland and +weden has explored the nature of European entrepreneurship"

Question No: (0

( Marks: 5 )

Discuss what kind of information should be mentioned in Edescription of ventureF section of a business plan3

+es ription o! t"e 6ent're The description of the venture should .e detailed in this section" This should .egin with the mission statement or company mission. which descri.es the nature of the .usiness and what the entrepreneur hopes to accomplish" The new venture should .e descri.ed in detailM including the productM locationM personnelM .ackground of entrepreneurM and history of the venture" The emphasis placed on location is a function of the type of .usiness" ?aps that locate customersM competitorsM and alternative locations can .e helpful" =f the .uilding or site decision involves legal issuesM the entrepreneur should hire a lawyer