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Entrepreneurship Management V2
Assignment - A
1. What do you mean by entrepreneur and entrepreneurship?
2. Name the sources of finance available to entrepreneur
3. Write a note on venture capital.
4. Discuss the methods of price determination
5. What do you mean by e-business? Discuss the implication of e-business on entr
epreneur.

Assignment - B
6. Explain the problems faced by entrepreneurship.
7. Discuss the stages of entrepreneurial project implementation.
8. What do you mean by vendor development? Discuss the vendor selection decision
factors?
Case Study
Zimmerman Sales and Service
Elmer Zimmerman decided to go into business for himself because he wanted to be
his own boss. At age 19, therefore, he began buying out a financially insecure f
arm automation business because he wanted the challenge of turning that business
into a profit-making enterprise.
Elmer's parents owned a dairy farm where he enjoyed working for many years. His
high school agri-business instructor at Mahoning County Joint Vocational School,
however, would not allow Elmer to work on the home farm because it was not larg
e enough to support another family. Therefore Elmer, at age 17, began to work at
a business that sold, serviced, and installed farm automation equipment such as
milking equipment, computer feeders, feed and barn cleaning systems, augurs, an
d so forth. It was this business that Elmer later purchased.
Buying out an existing business had its pluses and minuses. On the plus side, El
mer had an existing client list with which to work. On the minus side, Elmer sta
rted out with $20,000 worth of outstanding debts that were his as part of the pu
rchase agreement. Even though he started out in debt, Elmer believed that the pu
rchase was a good one because the business was located in a good dairy district
of Ohio. Elmer felt, after working in the business for two years, that if he off
ered the farmers a good product at a good price and performed good service, sale
s would follow.
Elmer was right. He was able to make arrangements to pay off the $20,000 in debt
by making regular payments with little or no interest. Annual sales at the clos
e of business at year's end had tripled since he took over the business.
Elmer employed two full-time and two part-time persons. In addition to his emplo
yees, Elmer uses the services of a professional accountant. Zimmerman Sales and
Services began as a sole proprietorship because there are fewer state and federa
l regulations and less "red tape". However, the accountant pointed out that sinc
e Elmer's business has increased over 300 percent in two years, the tax structur
e and liability needs make it advantageous to incorporate.

In addition to Elmer's high school background, which gave him a good overall bac
kground in farm operations (an important factor in dealing with clients), Elmer
received an associate degree from an Agriculture Technical Institute
Questions for Discussion:
Q1. What made Zimmerman to get into business and why did he purchase loss making
business?
Q2. What are the plusses and minuses of buying existing loss making business giv
en in the case?
Q3. Why did he decide to start his own business rather than continuing with exis
ting family business?
Q4. What factors made him to be successful in his business?
Assignment - C
Q.1. Small-scale industries can be classified into
types.
A. 7 main
B. 5 main
C. 4 main
D. 3 main
Q.2. IPR stands for
A. Indian production resolution
B. None of the above
C. Indian production revolution
D. Industrial Policy Resolution
Q.3. ___________ an important problem
faced by small-scale industries in th
e country.
A. Problem of raw material
B. Problem of Marketing
C. Problem of Finance
D. Problem of under uti
lization
Q.4. -------------------- is the process of identifying opportunities for new b
usiness ventures
A. Project identification
B. Arranging term finance
C. Selection of the product
D. Recruitment of staff
Q.5. The systematic development of a project idea for the eventual purpose of
arriving at an investment decision is termed as
A. Project Feasibility
B. Proj
ect Profiles
C. Project Formulation
D. Project Process
Q.6. ------------------ is the method, a sample market is surveyed before the n
ew product is offered for sale.
A. Sales experience method
B. Sample survey
C. Vicarious method
D. Complete enumeratio
n survey
Q.7. "As those that do not change with increase or decrease in production is def
ined as
A. Variable cost
B. Break even ana
lysis
C. Fixed cost
D. None of thes
e
Q.8.--------------------- is a blue print giving the complete framework and stru
cture of the venture that is taken for implementation.
A. Project report
B. Selection of the product
C. Cost analysis
D. Selection of site
Q.9. --------------- is an
artificial being invisible, intangible and exis
ting only in contemplation of law.
A. Product
B. Service
C. Corporation
D. All of these
Q.10. Which of the following are not the main features of partnership form of bu
siness ownership/organization?
A. Profit and loss sharing
B. Restrictions of transfer of sha
re

C. Contractual relationship
D. None of these
Q.11. the decision taken by the entrepreneur well in advance regarding the futur
e financial aspects of his/her enterprise is called
A. Financial analysis
B. Financial statem
ent
C. Financial planning
D. None of these
Q.12.The_____________ form of organization is based on the philosophy of selfhelp and mutual help
A. Cooperation
B. Co-operative
C. Organization
D. Restrictions
Q.13. A share holder is paid dividend, while a debenture holder is paid----------------A. Bonus
C. Increment
C. Interest
D. None of these
Q.14.The____________ of companies is also determined by the competitiveness foun
d among them.
A. Borrowed funds
B. Capital structure
C. Debt capital
D. Owner's capita
l
Q.15 U.No.5; P.No.92; is a process of assigning a distinct name to the product
so as to differentiate it from the competitive products of similar nature.
A. Trade mark
B. Bra
nding
C. Brand mark
D. Non
e of these
Q.16._______________ is one of the important segments of economic growth.
A. Mobilizing
B. Entrepreneur
C. Entrepreneurial
D. None of these
Q.17._________________ is a mental attitude to undertake expected risks during t
he endeavor to realize objectives.
A. Entrepreneurship
B. Organisation
C. Mobilising
D. Management
Q. 18.The evolutions of the concept of entrepreneur are broadly classified into
three groups Viz.,
A. Risk-bearer, organizer & innovator B. Risk-bearer, organize & inventor
B. Risk-bearer, inventor & organizer
D. None of these
Q.
A.
B.
C.
D.

19.which are two Managerial Control of the Entrepreneurial Functions?

Managing Finance & Managing factory
Managing Competition & Managing Finance
Managing Finance & Managing Production
Managing Production & Managing Competition

Q.20.________________ and____________ are the qualities apparently found in wome

n entrepreneurs.
A. Non-Intelligence & Un-patience B. Intelligence & Unmerciful approach
C. Intelligence & Patience
D. None of these
Q.21._____________ and______________ are the two sources of the Finance.
A. Shot-term & Long-term
B. Short-term & External
C. Internal & External
D. Long-term & Intern
al
Q.22.____________ entrepreneurs are unwilling to make any change in the producti
on system, even if the system causes losses repeatedly.

A. Initiative
C. Drone

B. Innovative
D. Fabian

Q.23.A____________ is the servant in the enterprise owned by the entrepreneur.

A. Entrepreneur
B. Manager
C. Employee
D. None of these
Q.24.Adam Smith described ---------------- as a person who only provides capita
l without taking active part in the leading role in enterprise.
A. Manager
B. Owner
C. Entrepreneur
D. Director
Q.25.ln the words of Schumpeter--------------- is a creative activity.
A. Management
B. Directing
C. Leading
D. Entrepreneur
ship
Q.26.Schumpeter argues that, the basic function of an entrepreneu
r is
A. challenging
B. Developing
C. Determination
D. innovation
Q.27. The section of any business plan demonstrates that you know your customers
.
A. market analysis
B. Customer analysi
s
C. Vendor analysis
D. None of these
Q.28.---------------------------------- estimates of product
ased on the market analysis and assumptions about the
he pricing, promotion, and distribution strategies.
A. Demand forecast
B.
C. Pricing strategy

or service sales, b
effectiveness of t
Promotion analysis
D. None of these

Q.29. ------------- has a significant influence to price determination o

f market oriented companies.
A. Competition
B. Demand
C. Pricing strategy
D. None of these
Q.30. While demand and competition are external factor, the-------------- are in
ternal.
A. Customers
B. Costs
C. Competition
D. None of these
Q.31.--------------- is one of the popular techniques of strategic sourcing, whi
ch improves the value we receive from suppliers.
A. Vendor selection
B. Vendor management
C. Vendor development
D. None of these
Q.32.-------------- is the branch of logistics that deals with the tangible comp
onents of a supply chain.
A. Materials management
B. Vendor management
C. Vendor development
D. None of these
Q. 33. The two most important factors to consider in a make-or-buy decision are
cost and the availability of
.
A. Production capacity
B. Working capital
C. Manpower
D. None of these
Q.34.----------------------- is a carefully planned and organized effort to acco
mplish a specific and usually one-time objective,

A. Vendor selection
C. project management

B. Marketing
D. None of these

Q.35. Someone who improves an existing business can be called

A. An intrapreneur
B. A professional
C. A co-worker
D. A changeling
Q36. Where there is no legal separation between the assets and liabilities of a
business, and the assets and liabilities of an individual, the business is
A. A sole trader
B. A
limited company
C. A cooperative
D. A p
artnership
Q.37. One of the key legal documents required in the formation of a limited comp
any is
A. A PAYE statement
B. The ar
ticles of registration
C. A memorandum of association
D Registration of
corporation
Q38. Acquiring the use of equipment such as machinery without owning it, is know
n as:
A. Leasing
B. Hire purchase
C. Factoring
D.
Acquisition
Q39. A cash flow forecast will form part of which section of the business plan
A. Operations
B. Marketing
C. Finance
D. Executive su
mmary
Q40. A key aspect of the financial section of the business plan is
A. A statement of management skills
B. A realistic sales forecast
C. Production capacity
D. A description of co
mpetitors
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