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
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
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
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
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.
2. 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
3. The difference in the entrepreneurial and managerial domains has contributed towards an increase interest in:
Forming new firms
Partnership
Intrapreneurship
Private firms
4. 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
5. Entrepreneur may start his business by considering following number/s of option/s
1
2
3
4
6. Licensing is a significant marketing strategy to:
Use intellectual property of others
Pirate others’ patents
Grow the business in new markets
Control the costs
7. Directors in corporation are elected by the______
Middle Level Managers
Entrepreneur
Shareholders
Low level Managers
8. An actor and a person who managed large project were 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
9. Front level managers have _______ Skill
Conceptual
Communicational
Technical
All of the above
10. The ______ plan describes how the product will be distributed and priced.
Financial
Production
Venture
Marketing
11. Why should an entrepreneur do a feasibility study?
To see if there are possible barriers to success
To identify possible sources of funds
To estimate the expected sales
To explore potential customers
Before preparing a business plan, the entrepreneur should do a quick feasibility study to see if there are possible barriers to success
12. Which of the following geographical area is having least interest to U.S. entrepreneurs?
Europe
The
Far East
Central Asia
Transition economies
13. Degree of influence and control on other people is called:
Locus of control
Locomotion of control
Locust of control
Loss of control
14. External forces directly affect all of the following EXCEPT:
Market segmentation strategies
Types of products/services offered
Management structure of organization
Choice of businesses to acquire or sell
15. THERE is evidence that an entrepreneur usually has _____________ parents.
Self employed
Discouraged
Non supportive
Strict
16. Moral support network includes following EXCEPT:
Spouses
Friends
Business associates
Relatives
17. Andrew Carnegie is an example of entrepreneur of which century:
Earliest period
19th and 20th century
Middle ages
17th century
18. Which one of the following is the fourth step in the entrepreneurial process?
Developing successful business ideas
Deciding to become an entrepreneur
Growing the entrepreneurial firm
Moving from an idea to an entrepreneurial firm
19. According to McClelland’s need theory, entrepreneurs possess which of the following needs?
Need for achievement
Need for power
Need for affiliation
Need for esteem
20. Which one of the following makes formation of new ventures within a corporate structure difficult?
Lack of intrapreneurial talent
Lack of freedom to make autonomous decisions
Lack of market opportunity
Lack of knowledge
21. Selling goods to another country through a person in the entrepreneur’s home country is known as:
Trading
Direct export
Indirect export
Domestic sales
22. Which one of the following is a barriers to new product creation and development?
Trial and error
Opportunity parameter
Opportunity cost
Intrapreneurship culture
23. The decision to start a new business is taken when one perceives that forming a new business is:
Possible
Desirable
Accurate
Both a and b
24. Which one of the following is the first step in the entrepreneurial process?
Developing successful business ideas
Deciding to become an entrepreneur
Growing the entrepreneurial firm
Moving from an idea to an entrepreneurial firm
25. Being one’s own boss is a need of:
Independence
Achievement
Affiliation
Authority
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
27. Which of the following factors has allowed small companies to act like they are big ones?
Competition
Economic development
Technology
Customers
28. Which of the following receives highest investment?
High potential venture
Foundation firm
Life style
Public company
29. In stage of responsibility allocation process the entrepreneur follows:
Highly centralized decision making process
Highly decentralized decision making process
Somewhat centralized decision making process
No particular standard
30. The entrepreneur’s_____________ depends on his perception of the opportunity.
Commitment to opportunity
Commitment of resources
Control of resources
Strategic orientation
31. Which of the following is NOT a characteristic of an entrepreneur?
Need for independence
Need for affiliation
Need for achievement
Risk taking
32. Following are the types of non equity arrangements EXCEPT:
Licensing
Management contracts
Direct export
Turnkey projects
33. Which one of the following is a firm that achieves modest growth?
High potential growth firm
Foundation firm
Life style
Public company
34. Which one of the following best represents the environment of an entrepreneurial oriented organization?
Corporate culture
Entrepreneurial culture
Intrapreneurial culture
Traditional culture
Another:
1. Which one of the following is NOT included in four C’s evaluation by lender?
Character
Cost
Continuity
Contribution
2. Which one of the following options has NOT a total taxable entity?
Minor partner
Limited partner p 87
General partner
All of the given options
3. It is proved that most businesses failed because of improper planning of an/a:
Investor
Marketer
Entrepreneur
Consultant
4. The entrepreneur was distinguished from capital provider in:
18th century
17th century
19th and 20th century
Middle ages
5. In an international perspective, which of the following decisions are NOT covered under strategic planning of an entrepreneur?
What are unique characteristics of each market?
Who should be involved in marketing decisions?
What customer benefits are provided by the product?
What are the company’s major strengths and weaknesses?
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
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
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
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
35. An ice cream producing company merges with a cotton spinning company this merger is an example of:
Diversified activity merger
Product extension merger
Market extension merger
Vertical merger
36. Which one of the following contracts should be in written?
Real estates
Lease
Rentals
All of the given options
37. SBA provides:
Finance without interest
Finance with interest
Guarantees for getting loans
Financing up to 90 % of principal amount
.
38. Stakeholders are present in_______
Partnership
Corporation
Sole Proprietorship
None of the above
39. 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
40. Which of the following is the previous name of SME?
SPCC
SMEDA
SBFC
FMBC
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