MIDTERM EXAMINATION Spring 2009 MGT602- Entrepreneurship (Session - 1 !

uestion No" 1 ## ( M$r%s" 1 - &'e$se (hoose one A typical inventor is usually ________________________ . )igh'* (re$ti+e , in 'o+e -ith the in+ention (&g 2. Does not encourage change Willing to modify the invention in order to augment commercial benefit None of the given options !uestion No" 2###( M$r%s" 1 - &'e$se (hoose one Being ones own boss is a need of: In/epen/en(e Achievement Affiliation Authority (&g 20

!uestion No" 1 ## ( M$r%s" 1 - &'e$se (hoose one here is an evidence that an entrepreneur usually has________________ parents. Se'2 e3p'o*e/ Discouraged Non supportive !trict (&g 22

!uestion No" 4 ## ( M$r%s" 1 - &'e$se (hoose one "n which of the following business arrangements two companies form a third company# $erger 5oint +entures (&g 11 $anagement contracts !ynergy

!uestion No" 0 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following method entrepreneur can use to do international business with least ris%# Turn%e* pro6e(ts (Re2 -e7 hey are less ris%y in countries where the political and economic environment is such that a longer&term investment might e'pose the firm to unacceptable political and(or economic ris% )oint venture $erger !ynergy !uestion No" 6 ## ( M$r%s" 1 - &'e$se (hoose one he combining of two or more independent bodies into a single body is %nown as: 5oint +enture (&g 11 $erger *ivalry +rotectionist attitudes !ynergy !uestion No" 8 ## ( M$r%s" 1 - &'e$se (hoose one $embers of distribution channels are e'cellent sources for new ideas because: The* $re 2$3i'i$r -ith the nee/s o2 the 3$r%et (&g 19 hey earn a handsome profit from new business hey do not bother if entrepreneur bears a loss hey have well&developed sales force http:((boo%s.google.com.p%(boo%s# id,s-.+-agn/+012pg,+A.342d5,Which6one6of6the6following6is 6a6method6for6obtaining6new6ideas6and6solutions6by6focusing 6on6problems# 2hl,en2ei,uA7w /1$A8emc"9t5as:2sa,;2oi,boo%_result2ct,resul t2resnum,.2ved,-11<<=A>wAA?v,onepage25,$embers@A-of @A-distribution@A-channels@A-2f,false !uestion No" . ( M$r%s" 1 - &'e$se (hoose one Which one of the following is the main problem for the entrepreneur in the beginning stages of creating a new venture# /ac% of e'perience 9i3ite/ resour(es (&g 10

/ac% of education None of the given options !uestion No" 9 ## ( M$r%s" 1 - &'e$se (hoose one Which one of the following protects continuity of the businessBspecially in partnershipC# +roperty insurance 1asualty insurance /ife insurance :on/ing (Repe$te/ !uestion No" 10 ## ( M$r%s" 1 - &'e$se (hoose one Which one the following is the best protection against product liability# Avoid negligence ;$rn (onsu3ers o2 $n* potenti$' h$<$r/s (&g 02 Dive warranty Avoid misrepresentation !uestion No" 11 ## ( M$r%s" 1 - &'e$se (hoose Ene Which one of the following is NE an internal factor# New technology $anufacturing M$r%eting +ersonnel !uestion No" 12 ## ( M$r%s" 1 - &'e$se (hoose one Which one of the following can serve entrepreneur as a consultant of the business plan# /awyers Accountants M$r%eters (&g 04 All of the given options !uestion No" 11 ## ( M$r%s" 1 - &'e$se (hoose one Why should an entrepreneur do a feasibility study for starting a new venture# To see i2 there $re possi7'e 7$rriers to su((ess o identify possible sources of funds o estimate the e'pected sales o e'plore potential customers !uestion No" 14 ( M$r%s" 1 - &'e$se (hoose one (&g 06

he mar%eting perspective of business plan considers the venture through the eyes of: "nvestor =usto3er (&g 04 >ntrepreneur $ar%eting manager !uestion No" 10 ( M$r%s" 1 - &'e$se (hoose one Which one of the following contracts should be in written form# *eal estates /ease *entals A'' o2 the gi+en options (p$ge 01
Any deal involving real estate must be in writing to be valid. Leases, rentals, and purchases all need written agreements

!uestion No" 16 ( M$r%s" 1 - &'e$se (hoose Ene Which of the following body issues patents# &TO DA NAF A F A (&g 48

!uestion No" 18 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following is a idea generation method that focuses on parameters# Brainstorming *everse brainstorming =re$ti+e pro7'e3 so'+ing !ynectics

(&g 40

!uestion No" 1. ( M$r%s" 1 - &'e$se (hoose one Which of the following is a more structured method of problem solvingG including principles and rules for concept formationG ma%ing observations and e'perimentsG and finally validating the hypothesis# S(ienti2i( 3etho/ 9euristics Attribute listing (&g 41

Halue analysis !uestion No" 19 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following techni5ues is an e'cellent method for initially screening ideas and concepts in addition to generating new ideas# >o(us group +roblem inventory analysis Brain storming *everse brainstorming Soi'e/ re2eren(e http:((boo%s.google.com.p%(boo%s# id,s-.+-agn/+012pg,+A.342d5,Which6one6of6the6following6is 6a6method6for6obtaining6new6ideas6and6solutions6by6focusing 6on6problems# 2hl,en2ei,uA7w /1$A8emc"9t5as:2sa,;2oi,boo%_result2ct,resul t2resnum,.2ved,-11<<=A>wAA?v,onepage25,Focus @A-group2f,false

!uestion No" 20 ## ( M$r%s" 1 - &'e$se (hoose one Developing a new idea through in5uiry and testing is called: 9euristics Forced relationship S(ienti2i( 3etho/ Halue analysis

(Repe$te/

!uestion No" 21 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following two wor% environments should be good for spawning the new enterprises# Finance and mar%eting Finance and *2D M$r%eting $n/ R,D ( Repe$te/ $ar%eting and " !uestion No" 22 ## ( M$r%s" 1 - &'e$se (hoose one A foundation company is formed through which of the following# Fashion $ost popular business

A winding up company Rese$r(h $n/ /e+e'op3ent

(&g 0.

!uestion No" 21 ( M$r%s" 1 - &'e$se (hoose one Which of the following is a fourth step in the entrepreneurial process# Developing successful business ideas Deciding to become an entrepreneur Gro-ing the entrepreneuri$' 2ir3 (Repe$te/ $oving from an idea to an entrepreneurial firm !uestion No" 24 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following factors is the most important in forcing 0.! companies to focus on new product development and increased productivity# >ntrepreneurship )*per (o3petition (&g 16 Dovernmental laws Ergani7ational culture !uestion No" 20 ( M$r%s" 1 - &'e$se (hoose one "n some countriesG point of purchase displays are not allowed in retail stores. !uch differences are studied by international entrepreneurs under which of the following type of environment# >conomic +olitical 1ultural Te(hno'ogi($'

(Repe$te/

!uestion No" 26 ( M$r%s" 1 - &'e$se (hoose one "n entrepreneurial domain the commitment to opportunity has short time span but in managerial domain it is: For . month For = months >or 'ong ti3e sp$n For . year

(&g 10?$n/ Re2"on'ine 7oo%

!uestion No" 28 ## ( M$r%s" 1 - &'e$se (hoose one he resources ac5uired from outsidersBcreditorsG ban%s etcC are usually: >asily available Di22i(u't to o7t$in (sure Hery useful

Hery cheap !uestion No" 2. ## ( M$r%s" 1 - &'e$se (hoose one "n an entrepreneurial domainGan entrepreneur is used to have resources for which of the following# &erio/i( inter+$'s Whole proIect For certain tas%s None of the given options http:((boo%s.google.com.p%(boo%s# id,s-.+-agn/+012pg,+A.342d5,Which6one6of6the6following6is 6a6method6for6obtaining6new6ideas6and6solutions6by6focusing 6on6problems# 2hl,en2ei,uA7w /1$A8emc"9t5as:2sa,;2oi,boo%_result2ct,resul t2resnum,.2ved,-11<<=A>wAA?v,onepage25,entrepreneurial @A-domain2f,false !uestion No" 29 ( M$r%s" 1 - &'e$se (hoose one he difference of the entrepreneurial and managerial domains has contributed towards an increase interest in which of the following# Forming new firms +artnership Intr$preneurship +rivate firms

(&g 16

!uestion No" 10 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following is alternatively called corporate venturing# >ntrepreneurship Intr$preneurship (&g 21 Act of stating a new venture Effering new products by an e'isting company !uestion No" 11 ## ( M$r%s" 1 - &'e$se (hoose one Which one of the following is not the intrapreneurial leadership characteristic# 0nderstands environment >ncourage the team wor% Not 2'e@i7'e (&g 20 +ersistent !uestion No" 12 ## ( M$r%s" 1 - &'e$se (hoose one

Which of the following typical culture has a climate and reward system that favors conservative decision ma%ing# >ntrepreneurial +artnership "ntrapreneurship +rivate firms

Corporate culture

)E"N NEW

(Pg 18)

!uestion No" 11 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following statement about the intrapreneurial climate is true# rial and error are discouraged Resour(es o2 the 2ir3 nee/ to 7e $+$i'$7'e $n/ e$si'* $((essi7'e (&g 19 A multidisciplinary approach is discouraged Failures are not allowed !uestion No" 14 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following is NE true about corporate entrepreneurs# hey prefer direct involvement to delegation hey tend to be moderate ris% ta%ers hey usually attempt to hide ris%y proIects from view until ready The* 2o''o- their /re$3s -ith /e(isions http://highered.mcgraw-hill.com/novella/MixQuizProcessingServlet !uestion No" 10 ( M$r%s" 1 - &'e$se (hoose one Which of the following factor does not affect a person for being an entrepreneur# N$tion$'it* (&g 22 >ducation +ersonal values Wor% history !uestion No" 16 ## ( M$r%s" 1 - &'e$se (hoose one Which of the following areas are preferred by women entrepreneurs# A/3inistr$tion 0tilities $anufacturing (&g 28

None of the above !uestion No" 18 ( M$r%s" 1 - &'e$se (hoose one Which one of the following is NE true about male entrepreneurs# M$'es o2ten h$+e in+estors? 7$n% 'o$ns? or person$' 'o$ns in $//ition to person$' 2un/s (&g 28 $ales often have more e'perience in manufacturingG financeG or technical areas $en are often more confident and less fle'ible and tolerant $en usually list outside advisors as the least important supporters !uestion No" 1. ( M$r%s" 1 - &'e$se (hoose one An entrepreneur doing business within the national border is called: Intern$tion$' entrepreneurship "ntrapreneurship Domestic entrepreneurship None of the given options (&g 29

)E"N NEW

!uestion No" 19 ## ( M$r%s" 1 - &'e$se (hoose one An entrepreneur is also successful in international business as well if he understands: Difference of domestic and international business Do3esti( 7usiness (&g 29 "nternational business None of the given options !uestion No" 40 ## ( M$r%s" 1 - &'e$se (hoose one Which one of the following may need the business plan# >mployees In+estors (&g 04 Advisors All of the given options !uestion No" 41 ( M$r%s" 0 "n which classification the research on Jbusiness ethics can be bro%en down#
esearch on business ethics can be bro!en down into "our broad classi"ications# 1. Pedagogically$oriented in%uiry &. 'heory$building without empirical testing

(. )mpirical research, measuring the attitudes and ethical belie"s o" students and academic "aculty *. )mpirical research within business environments

!uestion No" 42 ## ( M$r%s" 0 AB1 firm Ba renowned companyC wants to own foreign subsidiary in other country named K.AB1 firm wants to reduce the ris% with a 5uic% entry in the mar%et of country K. but the firm is not much familiar with the culture and mar%et structure of the country K. Which type of investment would you suggest the AB1 firm should do.!upport your answer with sound reasoning.