MIDTERM EXAMINATION Spring 2009 MGT602- Entrepreneurship (Session - 2) uestion No! "###( M$r%s!

" ) - &'e$se (hoose one An in)i*i)u$'+s nee) to ,e re(ogni-e) is ($''e)! Nee) .or in)epen)en(e Nee) .or $..i'i$tion Nee) o. .$/e Need for achievement(pg 25) uestion No! 2 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is $ pro(ess o. se''ing goo)s to other (ountries2 Non e3uit4 $rr$nge/ents M$n$ge/ent (ontr$(ts Exporting(page 32) Dire(t .oreign in*est/ent uestion No! 5 ( M$r%s! " ) - &'e$se (hoose one The (o/,ining o. t1o or /ore in)epen)ent ,o)ies into $ sing'e ,o)4 is %no1n $s! Joint venture(page31) Merger Ri*$'r4 &rote(tionist $ttitu)es http!66,oo%s7goog'e7(o/7p%6,oo%s2 i)8s0"&0$gn9&:;<pg8&A95<)380hi(h=o.=the=.o''o1ing=/etho)= entrepreneur=($n=use=to=)o=intern$tion$'=,usiness=1ith='e$st=ri s% >5?<h'8en<ei80@usTO-GDoS$*gOA5uTt@g<s$8X<oi8,oo%#resu't<(t 8,oo%thu/,n$i'<resnu/8"<*e)80;;o 61E1AAB*8snippet<38Coint >20*enture<.8.$'se uestion No! D ( M$r%s! " ) - &'e$se (hoose one An i(e (re$/ pro)u(ing (o/p$n4 /erges 1ith $ (otton spinning (o/p$n4 this /erger is $n eA$/p'e o.! Diversified activity merger (page 34) &ro)u(t eAtension /erger M$r%et eAtension /erger Eerti($' /erger uestion No! F ## ( M$r%s! " ) - &'e$se (hoose one ;o/,in$tion o. $t 'e$st t1o .ir/s $t )i..erent /$r%et 'e*e's is ($''e)! Coint *enture

S4nerg4 Gori-ont$' /erger ertica! merger(pg 3") uestion No! 6 ## ( M$r%s! " ) - &'e$se (hoose one The (on(ept o. 0or') 0i)e 0e, p$ges 1$s )e*e'ope) in! "960s "9H0s "9I0s 1##$s(pg 44) uestion No! H ## ( M$r%s! " ) - &'e$se (hoose on 0hi(h o. the .o''o1ing gr$nts prote(tion to o1ner .ro/ $n4one e'se /$%ingJ using $n) se''ing the i)enti.ie) inno*$tion2 %ti!ity patent(pg 4&) Design p$tent &'$nt p$tent Intern$tion$' p$tent uestion No! I ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ings st$te/ents is NOT true $,out tr$)e/$r%s2 'he entrepreneur can not fi!e after the mar( a!ready )een in use A tr$)e/$r% (ou') ,e $ s'og$n or $ p$rti(u'$r soun) So/e tr$)e/$r%s h$*e no re'$tionship 1ith the pro)u(t The .i'ing )$te .or the tr$)e/$r% ,e(o/es the .irst )$te use o. the /$r% http://books.google.com/books? id=s01P0agnLPUC&pg=PA167&lpg=PA167&d =!he"#iling"date"#o$"the"t$adema$k" becomes"the"#i$st"date"%se"o#"the"ma$k&so%$ce=bl&ots=$C&'C%(1)*&sig=pA+,( &,-U .1/%012U345d71li6&hl=en&ei=/0nd!7837s&ec9e:n&UL&sa=8&oi=boo k*$es%lt&ct=$es%lt&$esn%m=;&<ed=0C'626A')3)=<=onepage& =!he>?0#iling >?0date>?0#o$>?0the>?0t$adema$k>?0becomes>?0the>?0#i$st>?0date>?0%se >?0o#>?0the>?0ma$k&#=#alse uestion No! 9 ( M$r%s! " ) - &'e$se (hoose one A((or)ing to the go*erning ,o)ies o. (o//on '$1sJ the 'i.e o. tr$)e se(ret is! "2 4e$rs "H 4e$rs 20 4e$rs *s !ong as it remains confidentia! http+,,)oo(s-goog!e-com-p(,)oo(s. id/s$10$agn10%23pg/0*#33d4/5hich6of6the6fo!!o7ing6m ethod6entrepreneur6can6use6to6do6internationa!6)usiness 67ith6!east6ris(

8393h!/en3ei/$:us';<=Do>avg;x3u't:g3sa/?3oi/)oo(@re su!t3ct/)oo(A thum)nai!3resnum/13ved/$22oB"7E7**Cv/onepage34/tra de82$secret82$3f/fa!se uestion No! "0 ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is the /$in pro,'e/ .or the entrepreneur in the ,eginning st$ges o. (re$ting $ ne1 *enture2 9$(% o. eAperien(e 1imited resources(pg 1$) 9$(% o. e)u($tion None o. the gi*en options

uestion No! "" ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing insur$n(e is (o/pu'sor4 .or (o/p$nies $((or)ing to '$12 9i.e insur$n(e &ropert4 insur$n(e Disa)i!ity and vehic!e coverage(pg54) Ge$'th ($re (o*er$ge uestion No! "2 ################# ( M$r%s! " ) - &'e$se (hoose one Ge$'th insur$n(e pre/iu/ is 'ess eApensi*e i. there is! One insure) p$rti(ip$nts Ten p$rti(ip$nts 1arge group of participants s/$'' group o. p$rti(ip$nts

ery

uestion No! "5 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing prote(ts (ontinuit4 o. the ,usiness(spe(i$''4 in p$rtnership)2 &ropert4 insur$n(e ;$su$'t4 insur$n(e 9i.e insur$n(e :onding (http+,,777-ans7ers-com,topic,insurance) http+,,777-entrepreneur-com,encyc!opedia,term,D2222-htm!

6 Mar 2009 ... Thus, large life insurance companies began to enter the property and liability insurance field. ... The Fidelity and Casualty Company of Ne !or" issued the first contract to .... Bonding, or fidelity insurance, is designed to protect an .... of under riters or"ing indi#idually or in partnerships uestion No! "D ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one the .o''o1ing is the ,est prote(tion $g$inst pro)u(t 'i$,i'it42 A*oi) neg'igen(e 5arn consumers of any potentia! ha<ards (page 52) Gi*e 1$rr$nt4 A*oi) /isrepresent$tion uestion No! "F ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is NOT stu)ie) in in)ustr4 $n$'4sis2 E(ono/i( (on)itions Te(hno'og4 $)*$n(e/ents ;rgani<ationa! cu!ture (page 5&) 9eg$' (on(erns uestion No! "6 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing $ssesses the i/p$(t o. eAtern$' .$(tors on ,usiness2 Environmenta! ana!ysis(pg 5&) &ro)u(t .ore($st In)ustr4 $n$'4sis Org$ni-$tion$' (u'ture uestion No! "H ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is NOT $n en*iron/ent$' .$(tor2 E(ono/4 ;u'ture Te(hno'og4 2ompetition (page 5&) uestion No! "I ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is NOT in('u)e) in .our ;+s e*$'u$tion ,4 'en)er2 ;h$r$(ter ;ost 2ontinuity(pg 55) ;ontri,ution uestion No! "9 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is NOT essenti$' p$rt o. the (ontr$(t2 A'' the p$rties in*o'*e) shou') ,e n$/e) Tr$ns$(tion shou') ,e )es(ri,e) in )et$i' O,t$in sign$tures o. the persons in*o'*e)

0!ace 7here contract ta(es p!ace (page 53) uestion No! 20 ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is NOT $ (on)ition o. $ (ontr$(t2 An o..er is /$)e An $((ept$n(e o. o..er 2ounter offer ;onsi)er$tion is gi*en http!66,oo%s7goog'e7(o/7p%6,oo%s2 i)8s0"&0$gn9&:;<pg8&A95<)380hi(h=o.=the=.o''o1ing=/etho)= entrepreneur=($n=use=to=)o=intern$tion$'=,usiness=1ith='e$st=ri s% >5?<h'8en<ei80@usTO-GDoS$*gOA5uTt@g<s$8X<oi8,oo%#resu't<(t 8,oo%-thu/,n$i'<resnu/8"<*e)80;;o 61E1AAB*8snippet<38$ >20(ontr$(t<.8.$'se uestion No! 2" ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is $ se(tion o. p$tent $pp'i($tion2 *!! of the given options (page 4&) Intro)u(tion Des(ription o. ,usiness ;'$i/s uestion No! 22 ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is $ /ore stru(ture) /etho) o. pro,'e/ so'*ingJ in('u)ing prin(ip'es $n) ru'es .or (on(ept .or/$tionJ /$%ing o,ser*$tions $n) eAperi/entsJ $n) .in$''4 *$'i)$ting the h4pothesis2 >cientific method (page 41) Geuristi(s Attri,ute 'isting E$'ue $n$'4sis uestion No! 25 ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing gi*es suggestions .or ne1 pro)u(t $n) $'so he'p to /$r%et ne1 pro)u(ts2 EAisting pro)u(ts $n) ser*i(es Distri)ution channe!s (repeated ) 1$$8 ?e)er$' go*ern/ent ;onsu/ers uestion No! 2D ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is $ (h$r$(teristi( o. $ goo) p$rtner2 Ge'p to $(hie*e go$'s Sh$re entrepreneur+s *ision

Donot eAp'oit the p$rtnership *! of the given options (repeated)(1$$8 sure ) uestion No! 2F ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is $ /etho) o. se''ing goo)s to $nother (ountr4 through $ person in the entrepreneur+s ho/e (ountr42 Tr$)ing Dire(t eAport Endirect export (pg 34) Do/esti( s$'es uestion No! 26 ## ( M$r%s! " ) - &'e$se (hoose one An)re1 ;$rnegie is $n eA$/p'e o. entrepreneur o. 1hi(h (entur4! E$r'iest perio) 1#th and 2$th century0= (4) Mi))'e $ges "Hth (entur4

uestion No! 2H###( M$r%s! " ) - &'e$se (hoose one In 1hi(h o. the .o''o1ing entrepreneur 1$s %no1n $s $n inno*$tor2 E$r'iest perio) Mi))'e $ges "Hth (entur4 2$th century(pg3) uestion No! 2I ## ( M$r%s! " ) - &'e$se (hoose one In 1hi(h o. the .o''o1ing er$ entrepreneur enters into $ (ontr$(t 1ith go*ern/ent to per.or/ $ ser*i(e2 E$r'iest perio) Mi))'e $ges 1&th century (pg3) 20th (entur4 uestion No! 29 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing t1o 1or% en*iron/ents shou') ,e goo) .or sp$1ning the ne1 enterprises2 ?in$n(e $n) /$r%eting ?in$n(e $n) R<D Far(eting and G3D (repeated) M$r%eting $n) IT

uestion No! 50 ## ( M$r%s! " ) - &'e$se (hoose one The interse(tion o. %no1'e)ge $n) $ re(ogni-e) so(i$' nee) to st$rt $ pro)u(t )e*e'op/ent pro(ess is ($''e) 1hi(h o. the .o''o1ing2 Eterative synthesis(0= &) &ro)u(t-e*o'ution pro(ess Or)in$r4 inno*$tion Situ$tion $n$'4sis uestion No! 5" ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is $ se(on) step in the entrepreneuri$' pro(ess2 Deve!oping successfu! )usiness ideas(0= 13) De(i)ing to ,e(o/e $n entrepreneur Gro1ing the entrepreneuri$' .ir/ Mo*ing .ro/ $n i)e$ to $n entrepreneuri$' .ir/ uestion No! 52 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is NOT in('u)e) in the opportunit4 e*$'u$tion pro(ess2 9ength o. the opportunit4 Re$' $n) per(ei*e) *$'ue o. opportunit4 =oa!s and o)Hectives of customers (page 13) Ris%s $n) re1$r)s o. opportunit4

uestion No! 55 ( M$r%s! " ) - &'e$se (hoose one The resist$n(e o. e/p'o4ees in $n org$ni-$tion $g$inst .'eAi,i'it4J gro1thJ $n) )i*ersi.i($tion ($n ,e o*er(o/e ,4 )e*e'oping 1hi(h o. the .o''o1ing2 Entrepreneurship Entrapreneurship(0= 1") M$n$geri$' )o/$in A)/inistr$ti*e )o/$in uestion No! 5D ## ( M$r%s! " ) - &'e$se (hoose one In entrepreneuri$' )o/$in the (o//it/ent to opportunit4 h$s short ti/e sp$n ,ut in /$n$geri$' )o/$in it is! ?or " /onth ?or 6 /onths 9or !ong time span (page 15) ?or " 4e$r uestion No! 5F ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h one o. the .o''o1ing is not the intr$preneuri$' 'e$)ership (h$r$(teristi(2

:n)erst$n)s en*iron/ent En(our$ge the te$/ 1or% Not f!exi)!e (page 2$) &ersistent uestion No! 56 ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is *er4 i/port$nt to )e*e'op $ goo) te$/ .or (re$ting so/ething ne12 Nepotis/ ;pen discussion (page 2$) Non .'eAi,'e ,eh$*ior Dis(our$ge/ent o. te$/ /e/,er+s i)e$s uestion No! 5H ## ( M$r%s! " ) - &'e$se (hoose one The en*iron/ent o. $n entrepreneuri$' oriente) org$ni-$tion is ($''e)! ;orpor$te (u'ture Entrepreneuria! cu!ture(0= 14) Intr$preneuri$' (u'ture Tr$)ition$' (u'ture uestion No! 5I###( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing $re %no1n $s ,$rriers to ne1 pro)u(t (re$tion $n) )e*e'op/ent2 Tri$' $n) error ;pportunity parameters(0= 14) Opportunit4 (ost Intr$preneurship (u'ture uestion No! 59 ( M$r%s! " ) - &'e$se (hoose one In)i*i)u$'s in.'uen(ing $n entrepreneur+s ($reer (hoi(e $n) st4'e $re %no1n $s 1hi(h o. the .o''o1ing2 Go!e mode! (page 25) Mor$'-support net1or% &ro.ession$' support net1or% Support s4ste/ uestion No! D0 ## ( M$r%s! " ) - &'e$se (hoose one 0hi(h o. the .o''o1ing is NOT $n i/port$nt $spe(t o. Intern$tion$' su((ess2 &'$nning Diversification (repeated ) Reporting ;ontro' uestion No! D" ( M$r%s! F )

En'ist $n4 .i*e (h$r$(teristi(s in 1hi(h /$'e entrepreneurs $re )i..erent .ro/ .e/$'e entrepreneurs7
Education 'd%cation@appea$s@impo$tant@in@the@%pb$inging@o#@the@ent$ep$ene%$A@in@the@le<el@o#@ed%cation@ obtained@and@in@pla,ing@a@maBo$@$ole@in@coping@)ith@p$oblems.@Altho%gh@#o$mal@ed%cation@is@not@ necessa$,@#o$@sta$ting@a@ne)@b%sinessA@it@does@p$o<ide@a@good@backg$o%nd.@7n@ed%cationA@#emale@ ent$ep$ene%$s@p$e<io%sl,@eCpe$ienced@some@disad<antageA@)ith@#e)@ha<ing@deg$ees@in@ enginee$ingA@scienceA@o$@math.@!he@abilit,@to@deal@)ith@people@and@comm%nicate@clea$l,@in@)$itten@ and@spoken@)o$k@is@also@impo$tant.@ Personal Values Dt%dies@ha<e@#ailed@to@indicate@that@ent$ep$ene%$s@can@be@di##e$entiated@on@pe$sonal@<al%ed@#$om@ manage$sA@%ns%ccess#%l@ent$ep$ene%$sA@o$@the@gene$al@p%blic.@Leade$shipA@s%ppo$tA@agg$essionA@ bene<olenceA@con#o$mit,A@c$eati<it,A@<e$acit,A@and@$eso%$ce@seeking@ma,@also@be@impo$tant.@A@ s%ccess#%l@ent$ep$ene%$@is@#$e %entl,@cha$acte$i1ed@as@a@)inne$E@)inning@ma,@be@a@p$e$e %isite@ #o$@his@o$@he$@act%all,@becoming@one.@ Age 'nt$ep$ene%$ial@age@is@the@age@o#@the@ent$ep$ene%$@$e#lected@in@the@eCpe$ience.@'nt$ep$ene%$ial@ eCpe$ience@is@one@o#@the@best@p$edicto$s@o#@s%ccess.@7n@ch$onological@ageA@most@ent$ep$ene%$s@sta$t@ thei$@ca$ee$s@bet)een@ages@??@and@--.@'a$lie$@sta$ts@in@an@ent$ep$ene%$ial@ca$ee$@seem@to@be@bette$@ than@late$@ones.@:ene$all,A@male@ent$ep$ene%$s@sta$t@thei$@#i$st@<ent%$e@in@thei$@ea$l,@50sA@)hile@ )omen@tend@to@do@so@in@thei$@middle@50s.@ Work History 0issatis#action@)ith@oneFs@Bob@o#ten@moti<ates@the@la%nching@o#@a@ne)@<ent%$e.@P$e<io%s@technical@ and@ind%st$,@eCpe$ience@is@also@impo$tant@once@the@decision@to@sta$t@a@b%siness@is@made.@ 'Cpe$ience@in@the@#ollo)ing@a$eas@is@pa$tic%la$l,@impo$tant:@#inancingE@p$od%ct@o$@se$<ice@ de<elopmentE@man%#act%$ingE@de<elopment@o#@dist$ib%tion@channelsE@and@p$epa$ation@o#@a@ ma$keting@plan.@As@the@<ent%$e@becomes@establishedA@manage$ial@eCpe$ience@and@skills@become@ mo$e@impo$tant.@'nt$ep$ene%$ial@eCpe$ience@becomes@inc$easingl,@impo$tant@as@the@compleCit,@o#@ the@<ent%$e@inc$eases.@ MOTIVATION /hile@motivations ma,@<a$,A@the@$eason@cited@most@o#ten@#o$@becoming@an@ ent$ep$ene%$@independence(not@)ants@to@)o$k@#o$@an,one@else.@&the$@moti<ating@#acto$s@di##e$@ bet)een@male@and@#emale@ent$ep$ene%$s.@+one,@is@the@second@$eason@#o$@menFs@sta$ting@a@<ent%$e.@ Gob@satis#actionA@achie<ementA@oppo$t%nit,A@and@mone,@a$e@the@second@o$de$@$easons@#o$@)omen.

uestion No! D2 ## ( M$r%s! F ) X7K7L ;o/p$n4 h$s '$un(he) $ pro)u(t in the /$r%et7 An) the (usto/ers $re (o/p'$ining $,out the 3u$'it4 o. the pro)u(t7 ;o/p$n4 is not t$%ing $n4 $(tion $g$inst it7 ;usto/ers 1$nt to sue the (o/p$n47 Go1 /$n4 1$4s (usto/ers ($n ('$i/ reg$r)ing pro)u(t 'i$,i'it42 An) $'so suggest the ,est 1hi(h is suit$,'e in this situ$tion 1ith soun) re$sons7